{
  "version": "1.2",
  "description": "FinancialTouchstone Dataset - Expert-verified Q&A pairs from annual reports",
  "license": "CC BY-NC-SA 4.0",
  "contact": "financialtouchstone@unisg.ch",
  "statistics": {
    "total_questions": 2788,
    "unique_companies": 167,
    "unique_reports": 470,
    "question_types": {
      "key_financials": 468,
      "revenue_growth": 466,
      "cash_flow": 465,
      "revenue": 465,
      "company_type": 463,
      "segments": 461
    }
  },
  "inclusion_criteria": {
    "description": "Only records with both golden_answer AND golden_context populated are included",
    "excluded_records": 770,
    "errors_corrected": 115,
    "error_rate_on_included": "4.1%"
  },
  "data": [
    {
      "unique_key": "ID_000001_cash_flow",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "13.9bn CHF, 8.7bn free cash flow",
      "golden_context": "page 3: \n\nOperating cash flow\n(in CHF)\nFree cash flow*\n(in CHF)\n13.9 billion\n42.1% of net financial debt\n8.7 billion",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000001_company_type",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "SA (or S.A., or Societe Anonyme)",
      "golden_context": "page 49:\n\nKey figures (consolidated)\nIn millions of CHF (except for data per share and employees)\n2020 2021\nResults\nSales 84 343 87 088\nUnderlying trading operating profit (a) 14 903 15 119\nas % of sales 17.7% 17.4%\nTrading operating profit (a) 14 233 12 159\nas % of sales 16.9% 14.0%\nProfit for the year attributable to shareholders of the parent (Net profit) 12 232 16 905\nas % of sales 14.5% 19.4%\nBalance sheet and Cash flow statement\nTotal Equity 46 514 53 727\nNet financial debt (a) 31 319 32 917\nRatio of net financial debt to total equity (gearing) 67.3% 61.3%\nOperating cash flow 14 377 13 864\nas % of net financial debt 45.9% 42.1%\nFree cash flow (a) 10 245 8 715\nCapital additions 11 367 12 977\nas % of sales 13.5% 14.9%\nData per share\nWeighted average number of shares outstanding (in millions of units) 2 845 2 788\nBasic earnings per share CHF 4.30 6.06\nUnderlying earnings per share (a) CHF 4.21 4.42\nDividend as proposed by the Board of Directors of Nestlé S.A. CHF 2.75 2.80\nMarket capitalization, end December 293 644 351 682\nNumber of employees (in thousands) 273 276\nPrincipal key figures (b) (illustrative) in CHF, USD, EUR\nIn millions (except for data per share) Total CHF Total CHF Total USD Total USD Total EUR Total EUR\n2020 2021 2020 2021 2020 2021\nSales 84 343 87 088 89 982 95 212 78 801 80 564\nUnderlying trading operating profit (a) 14 903 15 119 15 900 16 530 13 924 13 987\nTrading operating profit (a) 14 233 12 159 15 185 13 293 13 298 11 248\nProfit for the year attributable to shareholders of the parent (Net profit) 12 232 16 905 13 050 18 481 11 428 15 638\nTotal Equity 46 514 53 727 52 806 58 747 42 939 51 961\nMarket capitalization, end December 293 644 351 682 333 364 384 542 271 072 340 122\nData per share\nBasic earnings per share 4.30 6.06 4.59 6.63 4.02 5.61\n(a) Certain financial performance measures are not defined by IFRS. For further details, see Foreword on page 46.\n(b) Income statement figures translated at weighted average annual rate; Balance sheet figures at year-end rate.\n\npage 53:\n\nReduction of L’Oréal stake\nOn December 15, 2021, Nestlé sold 22.26 million of L’Oréal\nshares for a total consideration of CHF 9.3 billion. Following\nthe transaction, Nestlé owns 20.1% of L’Oréal and remains\nfully supportive of the company’s value creation strategy.\nNet profit and Earnings per share\nNet profit grew by 38.2% to CHF 16.9 billion. Net profit\nmargin increased by 490 basis points to 19.4%. The gain on\nthe disposal of L’Oréal shares more than offset higher asset\nimpairments and other one-off items.\nUnderlying earnings per share increased by 5.8% in constant\ncurrency and by 5.1% on a reported basis to CHF 4.42.\nSales growth was the main contributor to the increase.\nNestlé’s share buyback program contributed 1.3% to the\nunderlying earnings per share increase, net of finance costs.\nEarnings per share increased by 41.1% to CHF 6.06 on a\nreported basis.\nCash flow\nCash generated from operations decreased from\nCHF 17.2 billion to CHF 16.6 billion, mainly due to slightly\nhigher working capital at year-end. In the context of\nsignificant supply chain disruptions, the Group increased its\ninventory levels temporarily. Free cash flow decreased from\nCHF 10.2 billion to CHF 8.7 billion, mainly due to a temporary\nincrease in capital expenditure to meet strong volume\ndemand, particularly for Purina PetCare and coffee.\n4.30\n2020 2021\n6.06\nEarnings per share\nin CHF\n13.9\n2020 2021\n14.4\nOperating cash flow\nin billions of CHF\n127.50\n120.00\n112.50\n105.00\n97.50\n| | | | | | | | | | | |\nJ F M A M J J A S O N D\nEvolution of the Nestlé S.A. share in 2021\nIn CHF\nNestlé S.A. share\nNestlé relative to Swiss Market Index\n22.5%\n15.0%\n7.5%\n0.0%\n–7.5%\n100%\n75%\n50%\n25%\n0%\nShare capital by investor type, long-term evolution (a)\n2017 2021\n(a) Percentage derived from total number of registered shares.\nRegistered shares represent 56.8% of the total share capital.\nStatistics are rounded, as at 12/31/2021.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000001_key_financials",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "87.1bn sales\n7.5% organic growth, 5.5% real internal growth\n12.2bn operating profit\n6.06 EPS\n\n15.1bn CHF underlying trading operating profit, 13.9bn CHF operating cash flow. 8.7bn free cash flow.",
      "golden_context": "page 3:\n\nWhat we sell (in CHF billion)\nWhere we sell (in CHF billion)\nNumber of employees Number of countries we sell in\n276000 186\nTotal group salaries and social\nwelfare expenses (in CHF)\nCorporate taxes paid in 2021\n(in CHF)\n14\nbillion\n2.7\nbillion\nOur business\nWe focus our energy and resources where unlocking the power of food\ncan make the greatest difference.\nWe apply our expertise in\nnutrition, health and wellness\nto help people, families and\npets live happier, healthier\nlives. We work to protect and\nrestore the environment and\ngenerate significant value for\nour shareholders and other\nstakeholders alike.\nPowdered and\nLiquid Beverages\nConfectionery Water\n24.0\nPrepared dishes\nand cooking aids\n12.1\n7.5 4.0\nMilk products\nand Ice cream\n10.7\nNutrition and\nHealth Science\n13.2\nPetCare\n15.6\nAMS\n39.1\nAOA\n22.2\nEMENA\n25.8\n\n\npage 5:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n87.1 billion 7.5% 5.5%\nUnderlying trading\noperating profit *\n(in CHF)\nUnderlying trading\noperating profit\nmargin*\nUnderlying trading\noperating profit\nmargin*\n15.1 billion 17.4% -30 Basis points\nConstant currency\nTrading operating\nprofit * (in CHF)\nTrading operating\nprofit margin*\nTrading operating\nprofit margin*\n12.2 billion 14.0% -290 Basis points\nConstant currency\nEarnings per share\n(in CHF)\nEarnings\nper share\nUnderlying earnings\nper share*\n6.06 +41.1% +5.8%\nConstant currency\nOperating cash flow\n(in CHF)\nFree cash flow*\n(in CHF)\n13.9 billion\n42.1% of net financial debt\n8.7 billion\nProposed dividend\n(in CHF)\nProposed dividend\nincrease\n2.80 +1.8%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000001_revenue",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "87bn CHF",
      "golden_context": "page 3: \n\nGroup sales (in CHF) Organic growth* Real internal growth*\n87.1 billion 7.5% 5.5%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000001_revenue_growth",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Organic growth of 7.5%, Real internal growth 5.5%",
      "golden_context": "page 3: \n\nGroup sales (in CHF) Organic growth* Real internal growth*\n87.1 billion 7.5% 5.5%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000001_segments",
      "report_id": "ID_000001",
      "company_name": "Nestle",
      "year": 2021,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beverages, Water, Milk & ice cream, Nutrition & health science, Prepared dishes & cooking aids, Confectionery, PetCare\n\nA correct answer should differentiate also between the purely product-based segmentation and the region-based segmentation.\n\nRegion-based segmentation:\n\nZone AMS\nZone EMENA\nZone AOA\nNespresso\nNestlé Health Science",
      "golden_context": "page 3:\n\nWhat we sell (in CHF billion)\nWhere we sell (in CHF billion)\nNumber of employees Number of countries we sell in\n276000 186\nTotal group salaries and social\nwelfare expenses (in CHF)\nCorporate taxes paid in 2021\n(in CHF)\n14\nbillion\n2.7\nbillion\nOur business\nWe focus our energy and resources where unlocking the power of food\ncan make the greatest difference.\nWe apply our expertise in\nnutrition, health and wellness\nto help people, families and\npets live happier, healthier\nlives. We work to protect and\nrestore the environment and\ngenerate significant value for\nour shareholders and other\nstakeholders alike.\nPowdered and\nLiquid Beverages\nConfectionery Water\n24.0\nPrepared dishes\nand cooking aids\n12.1\n7.5 4.0\nMilk products\nand Ice cream\n10.7\nNutrition and\nHealth Science\n13.2\nPetCa\n\npage 52: \n\nUnderlying trading operating profit\nUnderlying trading operating profit increased by 1.4% to\nCHF 15.1 billion. The underlying trading operating profit\nmargin decreased by 30 basis points to 17.4% in constant\ncurrency and on a reported basis, reflecting time delays\nbetween cost inflation and pricing actions. The one-off\nintegration costs related to the acquisition of The Bountiful\nCompany’s core brands had a negative impact of around\n10 basis points.\nGross margin decreased by 130 basis points to 47.8%,\nreflecting significant broad-based inflation for commodity,\npackaging, freight and energy costs. The impact of cost\ninflation, which increased strongly in the second half,\nwas partly offset by price increases, operating leverage\nand efficiencies.\nDistribution costs as a percentage of sales decreased by\n20 basis points, mainly as a result of the disposal of the\nNestlé Water brands in North America.\nMarketing and administration expenses decreased as a\npercentage of sales by 80 basis points, based on strong\noperating leverage and efficiencies. At the same time, the\nGroup continued to invest for growth and increased its\nconsumer-facing marketing expenses in constant currency.\nRestructuring expenses and net other trading items\nincreased by CHF 2.3 billion to CHF 3.0 billion, largely\nreflecting impairments related to the Wyeth business. As\na result, trading operating profit decreased by 14.6% to\nCHF 12.2 billion and the trading operating profit margin\ndecreased by 290 basis points on a reported basis to 14.0%.\nNet financial expenses and Income tax\nNet financial expenses were unchanged at CHF 873 million,\nas a lower cost of debt offset higher average net debt.\nThe Group reported tax rate decreased by 330 basis points\nto 20.9%, mainly as a result of one-off items in 2020,\nincluding the divestment of the U.S. ice cream business. The\nunderlying tax rate decreased by 40 basis points to 20.7%,\nmainly due to the geographic and business mix.\nUnderlying trading operating profit and Trading operating profit\nIn millions of CHF In % of sales\nUnderlying trading operating profit\nTrading operating profit\n2020 2021 2020 2021\n15 119\n12 159\n17.4%\n14.0%\n14 903\n14 233\n17.7%\n16.9%\nUnderlying trading operating\nprofit by operating segment\nIn % of sales\nTrading operating profit\nby operating segment\nIn % of sales\nZone AMS\nZone EMENA\nZone AOA\nNespresso\nNestlé Health Science 21.8% 18.5%\n20.8%\n2\n\npage 56:\n\n\nProduct category and operating segment review\nIn millions of CHF\n2020 * 2021 Proportion of total sales (%) RIG (%) OG (%)\nPowdered and Liquid Beverages\nSoluble coffee/coffee systems ** 15 842 17 120 71.4%\nOther ** 6 414 6 855 28.6%\nTotal sales 22 256 23 975 +7.8% +8.9%\nUnderlying trading operating profit 5 035 5 631 23.5%\nTrading operating profit 4 851 5 406 22.5%\nWater\nTotal sales 6 421 4 040 +3.0% +6.8%\nUnderlying trading operating profit 639 364 9.0%\nTrading operating profit 522 257 6.4%\nMilk products and Ice cream\nMilk products 10 087 9 778 91.4%\nIce cream 920 922 8.6%\nTotal sales 11 007 10 700 +3.0% +5.9%\nUnderlying trading operating profit 2 652 2 707 25.3%\nTrading operating profit 2 615 2 642 24.7%\nNutrition and Health Science\nTotal sales 12 160 13 157 +0.4% +1.4%\nUnderlying trading operating profit 2 640 2 307 17.5%\nTrading operating profit 2 490 243 1.8%\nPrepared dishes and cooking aids\nFrozen and chilled 5 694 5 871 48.3%\nCulinary and other 5 829 6 275 51.7%\nTotal sales 11 523 12 146 +4.6% +6.6%\nUnderlying trading operating profit 2 171 2 040 16.8%\nTrading operating profit 2 147 1 931 15.9%\nConfectionery\nChocolate 5 265 5 716 76.1%\nSugar confectionery 585 651 8.6%\nSnacking and biscuits 1 125 1 147 15.3%\nTotal sales 6 975 7 514 +6.3% +7.9%\nUnderlying trading operating profit 990 1 205 16.0%\nTrading operating profit 874 1 093 14.5%\nPetCare\nTotal sales 14 001 15 556 +9.4% +12.7%\nUnderlying trading operating profit 3 081 3 282 21.1%\nTrading operating profit 3 089 3 241 20.8%\n* 2020 comparatives adjusted, see Foreword on page 46.\n** 2020 comparatives adjusted following a new product grouping between Soluble coffee/coffee systems and Other.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_cash_flow",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Op cash flow 11.9\nFCF: 6.6\n",
      "golden_context": "page 3:\n\nOperating cash flow\n(in CHF)\nFree cash flow*\n(in CHF)\n11.9 billion\n24.7% of net financial debt\n6.6 billion",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_company_type",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "SA (or S.A., or Societe Anonyme)",
      "golden_context": "page 49:\n\nKey figures (consolidated)\nIn millions of CHF (except for data per share and employees)\n2+2% 2+22\nResults\nSales *( +** -. .2.\nUnderlying trading operating profit (a) %& %%- %/ %+)\nas % of sales %(..% %(.%%\nTrading operating profit (a) %2 %&- %) %-&\nas % of sales %..+% %..+%\nProfit for the year attributable to shareholders of the parent (Net profit) %/ -+& - 2(+\nas % of sales %-..% -.*%\nBalance sheet and Cash flow statement\nTotal Equity &) (2( .2 (-2\nNet financial debt (a) )2 -%( .* %&-\nRatio of net financial debt to total equity (gearing) /%.)% %%2.&%\nOperating cash flow %) */. %% -+(\nas % of net financial debt .2.%% 2..(%\nFree cash flow (a) * (%& / &(+\nCapital additions %2 -(( * 2/.\nas % of sales %..-% *.*%\nData per share\nWeighted average number of shares outstanding (in millions of units) 2 (** 2 (+(\nBasic earnings per share CHF /.+/ )..2\nUnderlying earnings per share (a) CHF ...2 ..*+\nDividend as proposed by the Board of Directors of Nestlé S.A. CHF 2.*+ 2.-&\nMarket capitalization, end December )&% /*2 2*& */&\nNumber of employees (in thousands) 2(/ 2(&\nPrincipal key figures (b) (illustrative) in CHF, USD, EUR\nIn millions (except for data per share) Total CHF Total CHF Total USD Total USD Total EUR Total EUR\n2+2% 2+22 2+2% 2+22 2+2% 2+22\nSales *( +** -. .2. -& 2%2 -* ((2 *+ &/. -. +%+\nUnderlying trading operating profit (a) %& %%- %/ %+) %/ &)+ %/ *.& %) -*( %/ +))\nTrading operating profit (a) %2 %&- %) %-& %) 2-) %) *+2 %% 2.* %) %)(\nProfit for the year attributable to shareholders of the parent (Net profit) %/ -+& - 2(+ %* .*% - /-( %& /)* - 2)+\nTotal Equity &) (2( .2 (-2 &* (.( ./ 2*% &% -/% .) ...\nMarket capitalization, end December )&% /*2 2*& */& )*. &.2 )+- %(( ).+ %22 2-+ 22&\nData per share\nBasic earnings per share /.+/ )..2 /./) ).&* &./% )..%\n(a) Certain financial performance measures are not defined by IFRS. For further details, see Foreword on page 46.\n(b) Income statement figures translated at weighted average annual rate; Balance sheet figures at year-end rate.\n\npage 53:\n\nEvolution of the Nestlé S.A. share in 2022\nNestlé S.A. share\n\npage 74: \n\nBoard of Directors\nof Nestlé S.A.\nBoard of Directors of Nestlé S.A.\nat December 31, 2022\nPaul Bulcke (1, 2, 4)\nChairman\nU. Mark Schneider (1, 2)\nChief Executive O#cer\nHenri de Castries (1, 2, 4, 6)\nVice Chairman\nLead Independent Director\nFormer Chairman and CEO, AXA\nPablo Isla (1, 2, 3)\nFormer Executive Chairman,\nInditex\nRenato Fassbind (1, 2, 6)\nVice Chairman, Swiss Re AG\nEva Cheng (1, 4)\nFormer Chairwoman and CEO,\nAmway China & Southeast Asia\nPatrick Aebischer (1, 3)\nPresident Emeritus of the\nSwiss Federal Institute of\nTechnology Lausanne (EPFL)\nKimberly A. Ross (1, 6)\nFormer CFO, Baker Hughes LLC,\nAvon Products Inc. and\nRoyal Ahold N.V.\nDick Boer (1, 3, 5)\nFormer President and CEO,\nAhold Delhaize N.V.\nDinesh Paliwal (1, 3, 4)\nFormer President and CEO,\nHarman International\nIndustries Inc.\nHanne Jimenez de Mora (1, 2, 5)\nCo-founder, a-connect group\nLindiwe M. Sibanda (1, 5)\nProfessor, University of Pretoria,\nRSA\nLuca Maestri (1, 6)\nChief Financial O#cer, Apple Inc.\nChris Leong (1, 5)\nChief Marketing O#cer,\nSchneider Electric",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_key_financials",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 94.4bn CHF, 8.3% organic growth, 0.1% real internal growth\n\nTrading op profit: 16.1bn, Underlying trading op profit margin: 17.1%\n\nTrading op profit: 13.2bn, 14% margin\n\nEPS: 3.42, -43.5%\n\nOp cash flow: 11.9bn, free cash flow: 6.6bn\n\nDividend: 2.95",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n94.4 billion 8.3% 0.1%\nUnderlying trading\noperating profit *\n(in CHF)\nUnderlying trading\noperating profit\nmargin*\nUnderlying trading\noperating profit\nmargin*\n16.1 billion 17.1% -40 Basis points\nConstant currency\nTrading operating\nprofit * (in CHF)\nTrading operating\nprofit margin*\nTrading operating\nprofit margin*\n13.2 billion 14.0% 0 Basis point\nConstant currency\nEarnings per share\n(in CHF)\nEarnings\nper share\nUnderlying earnings\nper share*\n3.42 -43.5% +9.4%\nConstant currency\nOperating cash flow\n(in CHF)\nFree cash flow*\n(in CHF)\n11.9 billion\n24.7% of net financial debt\n6.6 billion\nProposed dividend\n(in CHF)\nProposed dividend\nincrease\n2.95 +5.4%\n\npage 4:\n\nWhat we sell (in CHF billion)\nWhere we sell (in CHF billion)\nNumber of employees Number of countries we sell in\n275000 188\nTotal group salaries and social\nwelfare expenses (in CHF)\nCorporate taxes paid in 2022\n(in CHF)\n15\nbillion\n3.1\nbillion\nOur business\nWe focus our energy and resources where unlocking the power of food\ncan make the greatest di!erence.\nWe apply our expertise in\nnutrition, health and wellness\nto help people, families and\npets live happier, healthier\nlives. We work to protect and\nrestore the environment and\ngenerate significant value for\nour shareholders and other\nstakeholders alike.\nPowdered and\nLiquid Beverages\nConfectionery Water\n25.2\nPrepared dishes\nand cooking aids\n12.5\n8.1 3.5\nMilk products\nand Ice cream\n11.3\nNutrition and\nHealth Science\n15.7\nPetCare\n18.1\nGC\n5.8\nEUR\n22.3\nAOA\n21.0\nLATAM\n12.3\nNA\n33.0",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_revenue",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "94.4bn",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n94.4 billion 8.3% 0.1%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_revenue_growth",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8.3% organic, 0.1% real internal growth",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n94.4 billion 8.3% 0.1%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000002_segments",
      "report_id": "ID_000002",
      "company_name": "Nestle",
      "year": 2022,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beverages, Water, Milk & ice cream, Nutrition & health science, Prepared dishes & cooking aids, Confectionery, PetCare\n\nA fully correct answer should also mention the zones. NA (North America), Greater China (CG), AOA (Middle East and North Africa, MENA). ",
      "golden_context": "page 4:\n\nWhat we sell (in CHF billion)\nWhere we sell (in CHF billion)\nNumber of employees Number of countries we sell in\n275000 188\nTotal group salaries and social\nwelfare expenses (in CHF)\nCorporate taxes paid in 2022\n(in CHF)\n15\nbillion\n3.1\nbillion\nOur business\nWe focus our energy and resources where unlocking the power of food\ncan make the greatest di!erence.\nWe apply our expertise in\nnutrition, health and wellness\nto help people, families and\npets live happier, healthier\nlives. We work to protect and\nrestore the environment and\ngenerate significant value for\nour shareholders and other\nstakeholders alike.\nPowdered and\nLiquid Beverages\nConfectionery Water\n25.2\nPrepared dishes\nand cooking aids\n12.5\n8.1 3.5\nMilk products\nand Ice cream\n11.3\nNutrition and\nHealth Science\n15.7\nPetCare\n18.1\nGC\n5.8\nEUR\n22.3\nAOA\n21.0\nLATAM\n12.3\nNA\n33.0\n\npages 32 and the following also contain segment information.\n\n\nPage 59 is also ok. Other parts also contain segments.\n\nZone EUR\nIn millions of CHF\n\n2+2% * 2+22 Proportion of total sales (%) RIG (%) OG (%)\n\nWestern Europe %) &)2 %) )). /-.(%\nEastern Europe ) *&* . 2(2 22.)%\nTürkiye and Israël % .+. % &22 *.+%\nPowdered and Liquid Beverages & %.* & %.+ 2/.-%\nWater % /+/ % /2/ *.&%\nMilk products and Ice cream ))+ ).& %.*%\nPrepared dishes and cooking aids ) +)* 2 *2+ %..(%\nConfectionery ) +&. ) +-% %/.2%\nPetCare . )%/ . ()2 2..(%\nNutrition and Health Science % )+2 % )(. (.2%\nTotal sales 1- 7%. 1% 1)- ++.%% +7.)%\nUnderlying trading operating profit ) .)- ) %)* %/..%\nTrading operating profit ) )%/ 2 (%- %..2%\nCapital additions % .(& % .*- (.*%\n\n\npage 50:\n\nOperating segments 2021 comparative figures\nhave been adjusted following the creation of\nZone North America (NA) and Zone Greater China\n(GC) as of January 1, 2022. Zone AOA includes\nMiddle East and North Africa (MENA) previously\nincluded in Zone EMENA (see Note 3 of the 2022\nConsolidated Financial Statements).",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000003_cash_flow",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "15.9bn op cash flow, 10.4bn free cash flow",
      "golden_context": "page 3: \n\nOperating cash flow\n(in CHF)\n\nFree cash flow*\n(in CHF)\n\n15.9 billion\n32.1% of net financial debt\n\n10.4 billion",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000003_company_type",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "SA (or S.A., or Societe Anonyme)",
      "golden_context": "page 62 (and many mentioned on other pages):\n\nBoard of Directors\nof Nestlé S.A.\n\np. 67:\n\nShareholder information\n\nStock exchange listing\nAt December 31, 2023, Nestlé S.A. shares\nare listed on the SIX Swiss Exchange,\nZurich (ISIN code: CH0038863350).\nAmerican Depositary Receipts (ISIN code:\nUS6410694060) representing Nestlé S.A.\nshares are o!ered in the USA by Citibank,\nN.A., New York.\nRegistered O!ces\nNestlé S.A.\nAvenue Nestlé 55\nCH-1800 Vevey (Switzerland)\ntel. +41 (0)21 924 21 11\nNestlé S.A. (Share Transfer O\"ce)\nZugerstrasse 8\nCH-6330 Cham (Switzerland)\ntel. +41 (0)41 785 20 20\nFor additional information, contact:\nNestlé S.A.\nInvestor Relations\nAvenue Nestlé 55\nCH-1800 Vevey (Switzerland)\ntel. +41 (0)21 924 35 09\ne-mail: ir@nestle.com\nAs to information concerning the share\nregister (registrations, transfers,\ndividends, etc.), please contact:\nNestlé S.A. (Share Transfer O\"ce)\nZugerstrasse 8\nCH-6330 Cham (Switzerland)\ntel. +41 (0)41 785 20 20\nfax +41 (0)41 785 20 24\ne-mail: shareregister@nestle.com\nThe Annual Review is available online\nas a PDF in English, French and German.\nThe consolidated income statement, balance\nsheet and cash flow statement are also\navailable as Excel files.\nwww.nestle.com\n\nApril 18, 2024\n157th Annual General Meeting\nApril 19, 2024\nLast trading day with entitlement to dividend\nApril 22, 2024\nEx-dividend date\nApril 24, 2024\nPayment of the dividend\nApril 25, 2024\n2024 three-month sales figures\nJuly 25, 2024\n2024 half-year results\nOctober 17, 2024\n2024 nine-month sales figures\nFebruary 13, 2025\n2024 full-year results\n\n© 2024, Nestlé S.A., Cham and Vevey\n(Switzerland)\n\nThe Annual Report contains forward-\nlooking statements which reflect\n\nManagement’s current views and\nestimates. The forward-looking\nstatements involve certain risks and\nuncertainties that could cause actual\nresults to di!er materially from those\ncontained in the forward-looking\nstatements. Potential risks and\nuncertainties include factors such as\ngeneral economic conditions, foreign\nexchange fluctuations, competitive\nproduct and pricing pressures,\nand regulatory developments.\nThe Annual Report is published\nin English, German and French.\nThe English version is binding\nfor the content.\nThe brands in italics are trademarks\nused by the Nestlé Group.\nVisual concept and design\nSociété des Produits Nestlé S.A.,\nCorporate Identity & Design,\nwith Large Network\nPhotography\nNiels Ackermann,\nGaëtan Bally,\nMatthew Joseph,\nNestlé S.A.\nPrepress\nImages3 S.A. (Switzerland)\nProduction\nStämpfli AG (Switzerland)\nPaper\nThis report is printed on Refutura,\na paper certified by the Forest\nStewardship Council (FSC) produced\nfrom 100% recycled content.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000003_key_financials",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Revenue 93bn, 7.2% organic growth, -0.3% real internal growth, 16.1bn underlying trading operating profit, 17.3% underlying trading operating profit margin, 14.5 trading op profit, 15.6% trading op profit margin, 4.24 EPS, 15.9bn op ash flow, 10.4bn free cash flow",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n93.0 billion +7.2% –0.3%\n\nUnderlying trading\noperating profit *\n(in CHF)\n\nUnderlying trading\noperating profit\nmargin*\n\nUnderlying trading\noperating profit\nmargin*\n16.1 billion 17.3% +40 Basis points\nConstant currency\n\nTrading operating\nprofit * (in CHF)\n\nTrading operating\nprofit margin*\n\nTrading operating\nprofit margin*\n14.5 billion 15.6% +190 Basis points\nConstant currency\n\nEarnings per share\n(in CHF)\n\nEarnings\nper share\n\nUnderlying earnings\nper share*\n4.24 +23.7% +8.4%\nConstant currency\n\nOperating cash flow\n(in CHF)\n\nFree cash flow*\n(in CHF)\n\n15.9 billion\n32.1% of net financial debt\n\n10.4 billion\n\nProposed dividend\n(in CHF)\n\nProposed dividend\nincrease\n3.00 +1.7%\n\npage 4:\n\nWhat we sell (in CHF billion)\n\nWhere we sell (in CHF billion)\n\nNumber of employees Number of countries we sell in\n270000 188\n\nTotal group salaries and social\nwelfare expenses (in CHF)\n\nCorporate taxes paid in 2023\n(in CHF)\n\n14\nbillion\n\n2.8\nbillion\n\nOur business\nWe apply our expertise in nutrition, health and wellness to help people and pets\nlive happier, healthier lives. We do this alongside ambitious sustainability goals\nto generate significant value for our shareholders and other stakeholders alike.\n\nPowdered and\nLiquid Beverages\n\nConfectionery Water\n\n24.8\n\nPrepared dishes\nand cooking aids\n\n11.7\n\n8.1 3.3\n\nMilk products\nand Ice cream\n11.0\n\nNutrition and\nHealth Science\n\n15.3\n\nPetCare\n\n18.8\n\nGC\n5.5\n\nEUR\n22.3\n\nAOA\n19.9\n\nLATAM\n12.8\nNA\n32.5",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000003_revenue",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "93bn",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n93.0 billion +7.2% –0.3%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000003_revenue_growth",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "7.2% and -0.3%",
      "golden_context": "page 3:\n\nGroup sales (in CHF) Organic growth* Real internal growth*\n93.0 billion +7.2% –0.3%",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000003_segments",
      "report_id": "ID_000003",
      "company_name": "Nestle",
      "year": 2023,
      "country": "CH",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beverages, Water, Milk & ice cream, Nutrition & health science, Prepared dishes & cooking aids, Confectionery, PetCare\n\nA fully correct answer should also mention the \"zones\" mentioned on page 40 (NA, EUR, AOA, LATAM, GC, Nestle Health Service, Nespresso)",
      "golden_context": "p. 40:\n\nUnderlying trading operating profit\nThe underlying trading operating profit margin\nincreased by 20 basis points to 17.3% on a\nreported basis and by 40 basis points in constant\ncurrency. Underlying trading operating profit\ndecreased by 0.3% to CHF 16.1 billion, due to\ncurrency appreciation.\nGross profit margin increased by 70 basis\npoints to 45.9%. Pricing, cost e#ciencies and\nportfolio optimization more than o!set significant\ncost inflation.\nDistribution costs as a percentage of sales\ndecreased by 60 basis points to 8.3% of sales,\nmainly as a result of lower freight and energy costs.\nMarketing and administration expenses as a\npercentage of sales were 18.9%. Within this line\nitem, advertising and marketing expenses were\n7.7% of sales, an increase of 80 basis points\ncompared to the prior year.\nRestructuring and net other trading items\ndecreased from CHF 2.9 billion to CHF 1.5 billion,\nreflecting one-o! items in the prior year, particularly\nasset impairments. As a result, trading operating\nprofit increased by 10.0% to CHF 14.5 billion. The\ntrading operating profit margin reached 15.6%,\nan increase of 160 basis points on a reported basis\nand 190 basis points in constant currency.\nZone NA\nZone EUR\nZone AOA\nZone LATAM\nZone GC\nNestlé Health Science\nNespresso\n\n\nPage 56:\n\n\nIn millions of CHF\n2+2% * 2+22 Proportion of total sales (%) RIG (%) OG (%)\nPowdered and Liquid Beverages\nSoluble co\"ee/co\"ee systems %( %2+ %/ *-% /(.+%\nOther / *&& * )2( )).+%\nTotal sales )* %7( )( )1- ++.)% +-.+%\nUnderlying trading operating profit & /)% & &-) 22.2%\nTrading operating profit & .+/ & )&* 2%.2%\nWater\nTotal sales . +.+ * (*, +).)% +11.+%\nUnderlying trading operating profit )/. 2(( (.*%\nTrading operating profit 2&( 2.% /.*%\nMilk products and Ice cream\nMilk products - ((* %+ )&- -%.*%\nIce cream -22 -)+ *.2%\nTotal sales 1+ 7++ 11 )-% –..*% +(..%\nUnderlying trading operating profit 2 (+( 2 &/* 22.(%\nTrading operating profit 2 /.2 2 &+* 22.2%\nNutrition and Health Science\nTotal sales 1* 1(7 1( ,7- +1.7% +7..%\nUnderlying trading operating profit 2 )+( 2 --+ %-.%%\nTrading operating profit 2.) % )2) *..%\nPrepared dishes and cooking aids\nFrozen and chilled & *(% & *&- ./.-%\nCulinary and other / 2(& / /2& &).%%\nTotal sales 1) 1., 1) .-. –,.%% +*.1%\nUnderlying trading operating profit 2 +.+ 2 +)* %/.)%\nTrading operating profit % -)% % &+* %2.%%\nConfectionery\nChocolate & (%/ / %)- (&./%\nSugar confectionery /&% //% *.2%\nSnacking and biscuits % %.( % )%* %/.2%\nTotal sales 7 (1. - 11- +..-% +%..%\nUnderlying trading operating profit % 2+& % )/. %/.*%\nTrading operating profit % +-) % 2&- %&.&%\nPetCare\nTotal sales 1( ((, 1- 1+1 +..*% +1..(%\nUnderlying trading operating profit ) 2*2 ) (+/ 2+.&%\nTrading operating profit ) 2.% ) .-. %-.)%\n* The new Zones’ organization as of January 1, 2022, as described in Foreword on page 46, had no impact on the information by product.\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000004_cash_flow",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "No cash flow given in the JP Morgan annual report. Attempts at approximating the cash flow can be counted as correct. Answers saying that no cash flow is given can also be counted as correct. Only wrong answers should be counted as wrong. Make sure to also mark hallucinations as such if the model comes up with hallucinated cash flows.",
      "golden_context": "No context that contains the company's cash flow.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000004_company_type",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Co.",
      "golden_context": "Mentioned on all pages where the company name is mentioned.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000004_key_financials",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "noninterest exp 71bn USD\nNet income 48bn USD\n\nThe other information is not necessary to be mentioned.\n\ntotal net revenue 121,649m USD\n\n88.07 USD book value per share, 3.8 USD cash dividends declared per share. 19% return on common equity. Tier 1 capital ratio 15.0.",
      "golden_context": "page 2 (this information may also appear in the financial details on later pages):\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2021 2020 2019\nSelected income statement data\nTotal net revenue(a) $ 121,649 $ 119,951 $ 115,720\nTotal noninterest expense 71,343 66,656 65,269\nPre-provision profit(b) 50,306 53,295 50,451\nProvision for credit losses (9,256) 17,480 5,585\nNet income $ 48,334 $ 29,131 $ 36,431\nPer common share data\nNet income per share:\nBasic $ 15.39 $ 8.89 $ 10.75\nDiluted 15.36 8.88 10.72\nBook value per share 88.07 81.75 75.98\nTangible book value per share (TBVPS)(b) 71.53 66.11 60.98\nCash dividends declared per share 3.80 3.60 3.40\nSelected ratios\nReturn on common equity 19% 12% 15%\nReturn on tangible common equity (ROTCE)(b) 23 14 19\nLiquidity coverage ratio (average)(c) 111 110 116\nCommon equity Tier 1 capital ratio(d) 13.1 13.1 12.4\nTier 1 capital ratio(d) 15.0 15.0 14.1\nTotal capital ratio(d) 16.8 17.3 16.0\nSelected balance sheet data (period-end)\nLoans $1,077,714 $1,012,853 $ 997,620\nTotal assets(a) 3,743,567 3,384,757 2,686,477\nDeposits 2,462,303 2,144,257 1,562,431\nCommon stockholders’ equity 259,289 249,291 234,337\nTotal stockholders’ equity 294,127 279,354 261,330\nMarket data\nClosing share price $ 158.35 $ 127.07 $ 139.40\nMarket capitalization 466,206 387,492 429,913\nCommon shares at period-end 2,944.1 3,049.4 3,084.0\nHeadcount 271,025 255,351 256,981\n(a) Prior-period amounts have been revised to conform with the current presentation. Refer to the Income Taxes footnote on pages\n277-279 for further information.\n(b) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Refer to Explanation and Reconciliation of the\nFirm’s Use of Non-GAAP Financial Measures on pages 58–60 for additional information on these measures.\n(c) Refer to Liquidity Risk Management on pages 97-104 for additional information on this measure.\n(d) Refer to Capital Risk Management on pages 86-96 for additional information on these measures.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets\nof $3.7 trillion and operations worldwide. The firm is a leader in investment banking,\nfinancial services for consumers and small businesses, commercial banking, financial\ntransaction processing and asset management. A component of the Dow Jones Industrial\nAverage, JPMorgan Chase & Co. serves millions of customers in the United States and\nmany of the world’s most prominent corporate, institutional and government clients\nunder its J.P. Morgan and Chase brands.\nInformation about J.P. Morgan’s capabilities can be found at jpmorgan.com and about\nChase’s capabilities at chase.com. Information about JPMorgan Chase & Co. is available\nat jpmorganchase.com.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000004_revenue",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "net rev: 121bn, revenue of $125.3 billion\n\nRounding errors are acceptable.",
      "golden_context": "page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2021 2020 2019\nSelected income statement data\nTotal net revenue(a)\n$ 121,649 $ 119,951 $ 115,720\nTotal noninterest expense 71,343 66,656 65,269\nPre-provision profit(b) 50,306 53,295 50,451\nProvision for credit losses (9,256 ) 17,480 5,585\nNet income $ 48,334 $ 29,131 $ 36,431\nPer common share data\nNet income per share:\nBasic $ 15.39 $ 8.89 $ 10.75\nDiluted 15.36 8.88 10.72\nBook value per share 88.07 81.75 75.98\nTangible book value per share (TBVPS)(b) 71.53 66.11 60.98\nCash dividends declared per share 3.80 3.60 3.40\nSelected ratios\nReturn on common equity 19 % 12 % 15 %\nReturn on tangible common equity (ROTCE)(b) 23 14 19\nLiquidity coverage ratio (average)(c) 111 110 116\nCommon equity Tier 1 capital ratio(d) 13.1 13.1 12.4\nTier 1 capital ratio(d) 15.0 15.0 14.1\nTotal capital ratio(d) 16.8 17.3 16.0\nSelected balance sheet data (period-end)\nLoans $ 1,077,714 $ 1,012,853 $ 997,620\nTotal assets(a)\n3,743,567 3,384,757 2,686,477\nDeposits 2,462,303 2,144,257 1,562,431\nCommon stockholders’ equity 259,289 249,291 234,337\nTotal stockholders’ equity 294,127 279,354 261,330\nMarket data\nClosing share price $ 158.35 $ 127.07 $ 139.40\nMarket capitalization 466,206 387,492 429,913\nCommon shares at period-end 2,944.1 3,049.4 3,084.0\nHeadcount 271,025 255,351 256,981\n(a) Prior-period amounts have been revised to conform with the current presentation. Refer to the Income Taxes footnote on pages\n277-279 for further information.\n(b) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Refer to Explanation and Reconciliation of the\nFirm’s Use of Non-GAAP Financial Measures on pages 58–60 for additional information on these measures.\n(c) Refer to Liquidity Risk Management on pages 97-104 for additional information on this measure.\n(d) Refer to Capital Risk Management on pages 86-96 for additional information on these measures.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets\nof $3.7 trillion and operations worldwide. The firm is a leader in investment banking,\nfinancial services for consumers and small businesses, commercial banking, financial\ntransaction processing and asset management. A component of the Dow Jones Industrial\nAverage, JPMorgan Chase & Co. serves millions of customers in the United States and\nmany of the world’s most prominent corporate, institutional and government clients\nunder its J.P. Morgan and Chase brands.\nInformation about J.P. Morgan’s capabilities can be found at jpmorgan.com and about\nChase’s capabilities at chase.com. Information about JPMorgan Chase & Co. is available\nat jpmorganchase.com.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000004_revenue_growth",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "1.95% growth. This number is not explicitly stated, but can be derived. Small rounding errors are thus acceptable.",
      "golden_context": "Can be derived from page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2021 2020 2019\nSelected income statement data\nTotal net revenue(a)\n$ 121,649 $ 119,951 $ 115,720\nTotal noninterest expense 71,343 66,656 65,269\nPre-provision profit(b) 50,306 53,295 50,451\nProvision for credit losses (9,256 ) 17,480 5,585\nNet income $ 48,334 $ 29,131 $ 36,431\nPer common share data\nNet income per share:\nBasic $ 15.39 $ 8.89 $ 10.75\nDiluted 15.36 8.88 10.72\nBook value per share 88.07 81.75 75.98\nTangible book value per share (TBVPS)(b) 71.53 66.11 60.98\nCash dividends declared per share 3.80 3.60 3.40\nSelected ratios\nReturn on common equity 19 % 12 % 15 %\nReturn on tangible common equity (ROTCE)(b) 23 14 19\nLiquidity coverage ratio (average)(c) 111 110 116\nCommon equity Tier 1 capital ratio(d) 13.1 13.1 12.4\nTier 1 capital ratio(d) 15.0 15.0 14.1\nTotal capital ratio(d) 16.8 17.3 16.0\nSelected balance sheet data (period-end)\nLoans $ 1,077,714 $ 1,012,853 $ 997,620\nTotal assets(a)\n3,743,567 3,384,757 2,686,477\nDeposits 2,462,303 2,144,257 1,562,431\nCommon stockholders’ equity 259,289 249,291 234,337\nTotal stockholders’ equity 294,127 279,354 261,330\nMarket data\nClosing share price $ 158.35 $ 127.07 $ 139.40\nMarket capitalization 466,206 387,492 429,913\nCommon shares at period-end 2,944.1 3,049.4 3,084.0\nHeadcount 271,025 255,351 256,981\n(a) Prior-period amounts have been revised to conform with the current presentation. Refer to the Income Taxes footnote on pages\n277-279 for further information.\n(b) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Refer to Explanation and Reconciliation of the\nFirm’s Use of Non-GAAP Financial Measures on pages 58–60 for additional information on these measures.\n(c) Refer to Liquidity Risk Management on pages 97-104 for additional information on this measure.\n(d) Refer to Capital Risk Management on pages 86-96 for additional information on these measures.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets\nof $3.7 trillion and operations worldwide. The firm is a leader in investment banking,\nfinancial services for consumers and small businesses, commercial banking, financial\ntransaction processing and asset management. A component of the Dow Jones Industrial\nAverage, JPMorgan Chase & Co. serves millions of customers in the United States and\nmany of the world’s most prominent corporate, institutional and government clients\nunder its J.P. Morgan and Chase brands.\nInformation about J.P. Morgan’s capabilities can be found at jpmorgan.com and about\nChase’s capabilities at chase.com. Information about JPMorgan Chase & Co. is available\nat jpmorganchase.com.\"Operating Committee\nJames Dimon\nChairman and Chief Executive Officer\nDaniel E. Pinto\nPresident and Chief Operating Officer;\nCEO, Corporate & Investment Bank\nAshley Bacon\nChief Risk Officer\nMarc K. Badrichani\nHead of Global Sales & Research\nJeremy Barnum\nChief Financial Officer\nLori A. Beer\nChief Information Officer\nMary Callahan Erdoes\nCEO, Asset & Wealth Management\nStacey Friedman\nGeneral Counsel\nTakis T. Georgakopoulos\nGlobal Head of Wholesale Payments\nTeresa A. Heitsenrether\nGlobal Head of Securities Services\nCarlos M. Hernandez\nExecutive Chair of Investment &\nCorporate Banking\nMarianne Lake\nCo-CEO, Consumer & Community\nBanking\nRobin Leopold\nHead of Human Resources\nDouglas B. Petno\nCEO, Commercial Banking\nJennifer A. Piepszak\nCo-CEO, Consumer & Community\nBanking\nTroy L. Rohrbaugh\nHead of Global Markets\nPeter L. Scher\nVice Chairman\nSanoke Viswanathan\nCEO, International Consumer Banking",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000004_segments",
      "report_id": "ID_000004",
      "company_name": "JP Morgan Chase & Co",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer & Community, Corporate & Investment, Commercial, Asset & Wealth",
      "golden_context": "page 10:\n\nClient Franchises Built Over the Long Term\n2006 2011 2020 2021\nConsumer &\nCommunity\nBanking\nHouseholds (M)\nActive mobile customers (M)\n# of branches\n# of advisors1\nAverage deposits ($B)1\nDeposits market share2\n# of top 50 markets where\nwe are #1 (top 3)\nBusiness Banking primary market\nshare3\nClient investment assets ($B)1\nTotal payments volume ($B)4\n% of digital non-card payments5\nCredit card sales ($B)\nDebit card sales ($B)\nDebit & credit card sales volume ($B)\nCredit card sales market share6\nCredit card loans ($B, EOP)\nCredit card loans market share7\n~45\n—\n3,079\nNM\n$204\n4.4%\n7 (14)\n5.1%\n~$80\nNA\n<25%\n$257\nNA\nNA\n16%\n$153\n19%\n~55\n8.2\n5,508\n3,201\n$383\n6.6%\n6 (18)\n6.8%\n$138\n~$1,500\n~40%\n$344\n$189\n$533\n20%\n$132\n18%\n63\n40.9\n4,908\n4,417\n$851\n9.6%\n8 (25)\n9.5%\n$590\n$4,022\n72%\n$703\n$379\n$1,081\n22%\n$144\n17%\n66\n45.5\n4,790\n4,725\n$1,055\n10.3%\n8 (25)\n9.2%\n$718\n$4,997\n75%\n$894\n$467\n$1,361\n22%\n$154\n17%\n Serve >66 million U.S. households and >5 million\nsmall business relationships\n 59 million active digital customers8\n, including\n45 million active mobile customers9\n Primary bank relationships for >75% of\nConsumer Banking checking households\n First bank to have branch presence in all\ncontiguous 48 U.S. states\n #1 U.S. credit card issuer based on sales and\noutstandings10\n #3 mortgage servicer11\n #2 bank auto lender12\n Provided deferred payments and forbearance\noptions for >2 million mortgages, auto loans\nand credit cards, representing ~$90 billion in\nbalances13\n #1 PPP lender on a dollar basis\nCorporate &\nInvestment\nBank\nGlobal investment banking fees14\nMarket share14\nTotal Markets revenue15\nMarket share15\n FICC15\n Market share15\n Equities15\n Market share15\nAssets under custody ($T)\nAverage client deposits ($B)16\nFirmwide Payments revenue ($B)\nFirmwide Payments revenue rank\n(share)17\nDaily payment processing (T)18\nAverage daily security purchases\nand sales ($T)\n#2\n8.7%\n#8\n6.3%\n#7\n7.0%\n#8\n5.0%\n$13.9\n$190\n$5.0\nNA\nNA\nNA\n#1\n8.2%\n#1\n9.3%\n#1\n10.1%\n#3\n7.6%\n$16.9\n$319\n$6.1\nNA\nNA\nNA\n#1\n9.2%\n#1\n12.7%\n#1\n13.0%\nco–#1\n12.2%\n$31.0\n$611\n$9.6\n#1 (6.7%)\n>$8\n$2.7\n#1\n9.5%\n#1\n12.2%\n#1\n12.5%\nco–#1\n11.5%\n$33.2\n$715\n$10.3\n#1 (7.2%)\n>$9\n$2.9\n >90% of Fortune 500 companies do business\nwith us\n Presence in over 100 markets globally\n #1 in global investment banking fees for the\n13th consecutive year14\n Consistently ranked #1 in Markets revenue\nsince 201115\n J.P. Morgan Research ranked as the #1 Global\nResearch Firm, #1 Global Equity Research Team\nand #1 Global Fixed Income Research Team19\n #1 in USD payments volume20\n #1 in U.S. Merchant transaction processing21\n #2 custodian globally22\nCommercial\nBanking\n# of top 75 MSAs with dedicated teams\n# of bankers\nNew relationships (gross)\nAverage loans ($B)\nAverage deposits ($B)23\nGross investment banking revenue ($B)24\nPayments revenue ($B)25\nMultifamily lending26\n36\n1,203\nNA\n$53.6\n$73.6\n$0.7\n$0.9\n#28\n49\n1,108\nNA\n$104.2\n$174.7\n$1.4\n$1.1\n#1\n66\n2,020\n1,856\n$218.9\n$237.8\n$3.3\n$1.5\n#1\n66\n2,254\n2,579\n$205.0\n$301.5\n$5.1\n$1.8\n#1\n 140 locations across the U.S. and 32 international\nlocations, with 27 new markets since 2018\n $1B revenue from Middle Market expansion\nmarkets, up 34% YoY\n Credit, banking, and treasury services to\n~23K Commercial & Industrial clients and ~32K\nreal estate owners and investors\n 18 specialized industry coverage teams\n #1 overall Middle Market Bookrunner in the U.S.27\n Over 100,000 affordable housing units financed\nin 202128\nAsset & Wealth\nManagement\nMutual Funds with a 4/5-star rating29\nClient assets ($T)30\nTraditional assets ($T)30, 31\nAlternatives assets ($B)30, 32\nDeposits ($B)30\nLoans ($B)30\n# of Global Private Bank client\nadvisors30\nGlobal Private Bank (Euromoney)33\nU.S. Private Bank (Euromoney)33\n119\n$1.3\n$1.2\n$100\n$52\n$30\n1,506\n#7\n#1\n146\n$1.9\n$1.6\n$157\n$124\n$57\n2,389\n#4\n#1\n183\n$3.7\n$3.2\n$282\n$199\n$187\n2,462\n#2\n#1\n206\n$4.3\n$3.7\n$353\n$282\n$218\n2,738\n#1\n#1\n 86% of 10-year JPMAM long-term mutual fund\nAUM performed above peer median34\n Business with 60% of the world’s largest pension\nfunds, sovereign wealth funds and central banks\n #2 in 5-year cumulative net client asset flows\nbehind BlackRock35\n Positive client asset flows across all regions,\nsegments and products\n $58B in Alternatives fundraising\n #2 in Institutional Money Market Funds AUM36\n 60% of Asset Management AUM managed by\nfemale and/or diverse portfolio managers37\n\nPage 14:\n\nJPMorgan Chase Is in Line with Best-in-Class Peers in Both Efficiency and Returns\nEfficiency Returns\nJPM 2021\noverhead ratio\nBest-in-class peer\noverhead ratio1\nJPM 2021\nROTCE\nBest-in-class all\nbanks ROTCE2, 4\nBest-in-class\nG–SIB ROTCE3, 4\nConsumer &\nCommunity\nBanking\n58% 51%\nCOF–DC & CB\n41% 31%\nBAC–CB\n31%\nBAC–CB\nCorporate &\nInvestment\nBank\n49% 53%\nGS–IB & GM\n25% 26%\nGS–IB & GM\n26%\nGS–IB & GM\nCommercial\nBanking\n40% 42%\nPNC\n21% 20%\nKey\n15%\nWFC–CB\nAsset & Wealth\nManagement\n64% 59%\nCS–PB & TROW\n33% 48%\nUBS–GWM & MS–IM\n47%\nMS–WM & IM\nJPMorgan Chase compared with large peers5\nOverhead ratio6 ROTCE\nROTCE = Return on tangible common equity\nG-SIB = Global Systemically Important Banks\nFor footnoted information, refer to page 47 in this Annual Report. \n\nPage 336:",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_cash_flow",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 107, investing: -138, financing, -126, exchange rate effect: -17, net: -174",
      "golden_context": "Page 77:\n\nConsolidated cash flows analysis\nThe following is a discussion of cash flow activities during\nthe years ended December 31, 2022 and 2021. Refer to\nConsolidated cash flows analysis on page 57 of the Firm’s\n2021 Form 10-K for a discussion of the 2020 activities.\n(in millions)\nYear ended December 31,\n2022 2021 2020\nNet cash provided by/(used in)\nOperating activities $ 107,119 $ 78,084 $ (79,910)\nInvesting activities (137,819) (129,344) (261,912)\nFinancing activities (126,257) 275,993 596,645\nEffect of exchange rate\nchanges on cash (16,643) (11,508) 9,155\nNet increase/(decrease) in\ncash and due from banks and\ndeposits with banks $ (173,600) $ 213,225 $ 263,978 ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_company_type",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Co.",
      "golden_context": "Mentioned on all pages where the company name is mentioned.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_key_financials",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "129bn net rev, \n38bn net income,\n12.1$ net income per share (basic)\n12.09$ net income per share (diluted)\n90.29$ book value per share\ncash dividends declared per share 4$\n28.6tn$ assets under custody as of 2022.\ndeposits and client assets: 6580bn$\ntotal stockholders' equity: 292332m$",
      "golden_context": "Page 2: \n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2022 2021 2020\nSelected income statement data\nTotal net revenue $ 128,695 $ 121,649 $ 119,951\nTotal noninterest expense 76,140 71,343 66,656\nPre-provision profit(a) 52,555 50,306 53,295\nProvision for credit losses 6,389 (9,256) 17,480\nNet income $ 37,676 $ 48,334 $ 29,131\nPer common share data\nNet income per share:\nBasic $ 12.10 $ 15.39 $ 8.89\nDiluted 12.09 15.36 8.88\nBook value per share 90.29 88.07 81.75\nTangible book value per share (TBVPS)(a) 73.12 71.53 66.11\nCash dividends declared per share 4.00 3.80 3.60\nSelected ratios\nReturn on common equity 14% 19% 12%\nReturn on tangible common equity (ROTCE)(a) 18 23 14\nLiquidity coverage ratio (average)(b) 112 111 110\nCommon equity Tier 1 capital ratio(c) 13.2 13.1 13.1\nTier 1 capital ratio(c) 14.9 15.0 15.0\nTotal capital ratio(c) 16.8 16.8 17.3\nSelected balance sheet data (period-end)\nLoans $1,135,647 $1,077,714 $1,012,853\nTotal assets 3,665,743 3,743,567 3,384,757\nDeposits 2,340,179 2,462,303 2,144,257\nCommon stockholders’ equity 264,928 259,289 249,291\nTotal stockholders’ equity 292,332 294,127 279,354\nMarket data\nClosing share price $ 134.10 $ 158.35 $ 127.07\nMarket capitalization 393,484 466,206 387,492\nCommon shares at period-end 2,934.2 2,944.1 3,049.4\nHeadcount 293,723 271,025 255,351\n(a) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Refer to Explanation and Reconciliation of the\nFirm’s Use of Non-GAAP Financial Measures on pages 58–60 for a discussion of these measures.\n(b) Refer to Liquidity Risk Management on pages 97-104 for additional information on this measure.\n(c) Refer to Capital Risk Management on pages 86-96 for additional information on these measures.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm with assets of\n$3.7 trillion and operations worldwide. The firm is a leader in investment banking,\nfinancial services for consumers and small businesses, commercial banking, financial\ntransaction processing and asset management. Under the J.P. Morgan and Chase brands,\nthe firm serves millions of customers, predominantly in the U.S., and many of the world’s\nmost prominent corporate, institutional and government clients globally.\nInformation about J.P. Morgan’s capabilities can be found at jpmorgan.com and about\nChase’s capabilities at chase.com. Information about JPMorgan Chase & Co. is available at\njpmorganchase.com.\n\n\nOther pages:\n\nMore financial details are found on later pages as well.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_revenue",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "129bn net rev\n\nRounding errors are acceptable.",
      "golden_context": "Page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2022 2021 2020\nSelected income statement data\nTotal net revenue $ 128,695 $ 121,649 $ 119,951\nTotal noninterest expense 76,140 71,343 66,656\nPre-provision profit(a) 52,555 50,306 53,295\nProvision for credit losses 6,389 (9,256) 17,480\nNet income $ 37,676 $ 48,334 $ 29,131",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_revenue_growth",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "5.8%. This number was derived from the absolute revenue numbers. Rounding errors are acceptable.",
      "golden_context": "Page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and headcount) 2022 2021 2020\nSelected income statement data\nTotal net revenue $ 128,695 $ 121,649 $ 119,951\nTotal noninterest expense 76,140 71,343 66,656\nPre-provision profit(a) 52,555 50,306 53,295\nProvision for credit losses 6,389 (9,256) 17,480\nNet income $ 37,676 $ 48,334 $ 29,131",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000005_segments",
      "report_id": "ID_000005",
      "company_name": "JP Morgan Chase & Co",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer & Community, Corporate & Investment, Commercial, Asset & Wealth",
      "golden_context": "Page 10:\n\nClient Franchises Built Over the Long Term\n2006 2012 2021 2022\nConsumer &\nCommunity\nBanking\nAverage deposits ($B)1\nDeposits market share2\n# of top 50 markets where\nwe are #1 (top 3)\nBusiness Banking primary market\nshare3\nClient investment assets ($B)1\nTotal payments volume ($T)4\n% of digital non-card payments5\nCredit card sales ($B)\nDebit card sales ($B)\nDebit and credit card sales volume ($B)\nCredit card sales market share6\nCredit card loans ($B, EOP)\nCredit card loans market share7\nActive mobile customers (M)\n# of branches\n# of advisors1\n$204\n4.4%\n7 (14)\n5.1%\n~$80\nNA\n<25%\n$257\nNA\nNA\n16%\n$153\n19%\nNA\n3,079\nNM\n$414\n7.1%\n7 (18)\n6.2%\n$159\n$1.8\n~40%\n$381\n$205\n$586\n20%\n$128\n18%\n12.4\n5,614\n2,963\n$1,055\n10.3%\n8 (25)\n9.2%\n$718\n$5.0\n75%\n$894\n$467\n$1,361\n22%\n$154\n17%\n45.5\n4,790\n4,725\n$1,163\n10.9%\n11 (25)\n9.3%\n$647\n$5.6\n77%\n$1,065\n$491\n$1,555\n22%\n$185\n17%\n49.7\n4,787\n5,029\n Serve 79M U.S. consumers and 5.7M small\nbusinesses\n 63M active digital customers8\n, including 50M\nactive mobile customers9\n Primary bank relationships for 78% of consumer\nchecking accounts\n #1 retail deposit share\n #1 deposit market share position in each of the\nlargest banking markets in the country (NYC, LA\nand Chicago) while maintaining branch presence\nin all contiguous 48 U.S. states\n #1 primary bank for U.S. small businesses\n #1 U.S. credit card issuer based on sales and\noutstandings10\n #2 among lenders in the J.D. Power 2022 U.S.\nMortgage Origination Satisfaction Study11\n #2 owned mortgage servicer12\n #3 bank auto lender13\nCorporate &\nInvestment\nBank\nGlobal investment banking fees14\nMarket share14\nTotal Markets revenue15\nMarket share15\n FICC15\n Market share15\n Equities15\n Market share15\nAssets under custody ($T)\nAverage client deposits ($B)16\nFirmwide Payments revenue ($B)17\nFirmwide Payments revenue rank\n(share)18\nFirmwide average daily security\npurchases and sales ($T)\n#2\n8.7%\n#8\n6.3%\n#7\n7.0%\n#8\n5.0%\n$13.9\n$190\n$5.0\nNA\nNA\n#1\n7.7%\n#1\n8.6%\n#1\n9.0%\n#3\n7.8%\n$18.8\n$356\n$6.7\nNA\nNA\n#1\n9.3%\n#1\n12.1%\n#1\n12.3%\nco-#1\n11.8%\n$33.2\n$715\n$9.9\n#1 (7.2)%\n$2.9\n#1\n8.0%\n#1\n11.7%\n#1\n11.0%\n#1\n13.1%\n$28.6\n$687\n$13.9\n#1 (8.4)%\n$3.1\n >90% of Fortune 500 companies do business\nwith us\n Presence in over 100 markets globally\n #1 in global investment banking fees for the\n14th consecutive year14\n Consistently ranked #1 in Markets revenue\nsince 201115\n J.P. Morgan Research ranked as the #1 Global\nResearch Firm, #1 Global Equity Research Team\nand #1 Global Fixed Income Research Team19\n #1 in USD payments volume20\n #1 in U.S. Merchant transaction processing21\n #2 custodian globally22\nCommercial\nBanking\n# of top 75 MSAs with dedicated teams\n# of bankers\nNew relationships (gross)23\nAverage loans ($B)\nAverage deposits ($B)\nGross investment banking revenue ($B)24\nMultifamily lending25\n36\n1,203\nNA\n$53.6\n$73.6\n$0.7\n#28\n 52\n1,240\nNA\n$120.1\n$195.9\n$1.6\n#1\n66\n2,254\n2,252\n$205.0\n$301.5\n$5.1\n#1\n69\n2,360\n2,277\n$223.7\n$294.3\n$3.0\n#1\n 141 locations across the U.S. and 34 international\nlocations, with 7 new cities added in 2022\n $1.5B revenue from Middle Market expansion\nmarkets, up 26% YoY\n Credit, banking and treasury services to ~25K\nCommercial & Industrial clients and ~31K real\nestate owners and investors\n 18 specialized industry coverage teams\n #1 overall Middle Market Bookrunner in the U.S.26\n Over 80,000 incremental affordable housing\nunits financed in 202227\nAsset & Wealth\nManagement\nMutual Funds with a 4/5-star rating28\nClient assets ($T)29\nTraditional assets ($T)29,30\nAlternatives assets ($B)29,31\nDeposits ($B)29\nLoans ($B)29\n# of Global Private Bank client advisors29\nGlobal Private Bank (Euromoney)\n32\n119\n$1.3\n$1.2\n$100\n$52\n$30\n1,506\n#7\n172\n$2.0\n$1.7\n$177\n$141\n$79\n 2,371\n#3\n206\n$4.3\n$3.6\n$364\n$282\n$218\n2,738\n#1\n203\n$4.0\n$3.4\n$372\n$233\n$214\n3,137\n#1\n 90% of 10-year JPMAM long-term mutual fund\nAUM performed above peer median33\n Business with 61% of the world’s largest pension\nfunds, sovereign wealth funds and central banks\n #3 in 5-year cumulative net client asset flows\nbehind BlackRock and Morgan Stanley34\n Positive client asset flows in 2022 across all\nregions, with strength in brokerage, equity,\ncustody and fixed income\n $98B in Alternatives fundraising over two years\n #2 in Institutional Money Market Funds AUM35\n 49% of Asset Management AUM managed by\nfemale and/or diverse portfolio managers36\nNA = Not available USD = U.S. dollar\nNM = Not meaningful YOY = Year-over-year\nAUM = Assets under management M = Millions\nEOP = End of period B = Billions\nFICC = Fixed income, currencies and commodities T = Trillions\nJPMAM = J.P. Morgan Asset Management K = Thousands\n\nPage 13:\n\nConsumer &\nCommunity\nBanking\n57% 52%\nBAC-CB\n29% 31%\nBAC–CB\n31%\nBAC–CB\nCorporate &\nInvestment\nBank\n57% 55%\nGS–IB & GM\n14% 17%\nGS–IB & GM\n17%\nGS–IB & GM\nCommercial\nBanking\n41% 37%\nTFC\n16% 20%\nWFC–CB\n20%\nWFC–CB\nAsset & Wealth\nManagement\n67% 61%\nNTRS–WM & ALLIANZ–AM\n25% 41%\nUBS–GWM & AM\n33%\nMS–WM & IM",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_cash_flow",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating 13bn, investing 68bn, financing -26, exchange rate effects 2bn, net cash flow 57bn",
      "golden_context": "Page 99:\n\nConsolidated cash flows analysis\nThe following is a discussion of cash flow activities during\nthe years ended December 31, 2023 and 2022. Refer to\nConsolidated cash flows analysis on page 57 of the Firm’s\n2022 Form 10-K for a discussion of the 2021 activities.\n(in millions)\nYear ended December 31,\n2023 2022 2021\nNet cash provided by/(used in)\nOperating activities $ 12,974 $ 107,119 $ 78,084\nInvesting activities 67,643 (137,819) (129,344)\nFinancing activities (25,571) (126,257) 275,993\nEffect of exchange rate\nchanges on cash 1,871 (16,643) (11,508)\nNet increase/(decrease) in\ncash and due from banks and\ndeposits with banks $ 56,917 $ (173,600) $ 213,225",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_company_type",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Co.",
      "golden_context": "Mentioned on all pages where the company name is mentioned.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_key_financials",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "rev 158bn USD, \n\nnet income 50bn.\n\nbook value per share 104.45 USD, \n\nnet income per share 16.25 USD, \n\n17% return on common equity, \n\n16.6 Tier 1 capital ratio.",
      "golden_context": "Page 2: \n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and employees) 2023 2022 2021\nSelected income statement data\nTotal net revenue $ 158,104 $ 128,695 $ 121,649\nTotal noninterest expense 87,172 76,140 71,343\nPre-provision profit(a) 70,932 52,555 50,306\nProvision for credit losses 9,320 6,389 (9,256)\nNet income $ 49,552 $ 37,676 $ 48,334\nPer common share data\nNet income per share:\nBasic $ 16.25 $ 12.10 $ 15.39\nDiluted 16.23 12.09 15.36\nBook value per share 104.45 90.29 88.07\nTangible book value per share (TBVPS)(a) 86.08 73.12 71.53\nCash dividends declared per share 4.10 4.00 3.80\nSelected ratios\nReturn on common equity 17% 14% 19%\nReturn on tangible common equity (ROTCE)(a) 21 18 23\nLiquidity coverage ratio (average)(b) 113 112 111\nCommon equity Tier 1 capital ratio(c) 15.0 13.2 13.1\nTier 1 capital ratio(c) 16.6 14.9 15.0\nTotal capital ratio(c) 18.5 16.8 16.8\nSelected balance sheet data (period-end)\nLoans $1,323,706 $1,135,647 $1,077,714\nTotal assets 3,875,393 3,665,743 3,743,567\nDeposits 2,400,688 2,340,179 2,462,303\nCommon stockholders’ equity 300,474 264,928 259,289\nTotal stockholders’ equity 327,878 292,332 294,127\nMarket data\nClosing share price $ 170.10 $ 134.10 $ 158.35\nMarket capitalization 489,320 393,484 466,206\nCommon shares at period-end 2,876.6 2,934.2 2,944.1\nEmployees(d) 309,926(e) 293,723 271,025\nAs of and for the period ended December 31, 2023, the results of the Firm include the impact of First Republic. Refer to Business\nSegment Results on page 67 and Note 34 for additional information.\n(a) Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Refer to Explanation and Reconciliation of the\nFirm’s Use of Non-GAAP Financial Measures on pages 62–64 for a discussion of these measures.\n(b) Refer to Liquidity Risk Management on pages 102-109 for additional information on this measure.\n(c) Refer to Capital Risk Management on pages 91-101 for additional information on these measures.\n(d) This metric, which was formerly Headcount, has been renamed Employees but is otherwise unchanged.\n(e) Included approximately 4,500 individuals associated with First Republic who became employees effective July 2, 2023.\nJPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm with assets of\n$3.9 trillion and operations worldwide. The firm is a leader in investment banking,\nfinancial services for consumers and small businesses, commercial banking, financial\ntransaction processing and asset management. Under the J.P. Morgan and Chase\nbrands, the firm serves millions of customers, predominantly in the U.S., and many of\nthe world’s most prominent corporate, institutional and government clients globally.\nInformation about J.P. Morgan’s capabilities can be found at jpmorgan.com and\nabout Chase’s capabilities at chase.com. Information about JPMorgan Chase & Co.\nis available at jpmorganchase.com.\n\nFurther details may come up on later pages.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_revenue",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "net rev 158",
      "golden_context": "Page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and employees) 2023 2022 2021\nSelected income statement data\nTotal net revenue $ 158,104 $ 128,695 $ 121,649\nTotal noninterest expense 87,172 76,140 71,343\nPre-provision profit(a) 70,932 52,555 50,306\nProvision for credit losses 9,320 6,389 (9,256)\nNet income $ 49,552 $ 37,676 $ 48,334",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_revenue_growth",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "129 -> 158.\n\nIt is acceptable if the model states the calculated growth rate or if it just found the two correct revenue numbers (prior year and current year). Both versions are fine.",
      "golden_context": "Page 2:\n\nFinancial Highlights\nAs of or for the year ended December 31,\n(in millions, except per share, ratio data and employees) 2023 2022 2021\nSelected income statement data\nTotal net revenue $ 158,104 $ 128,695 $ 121,649\nTotal noninterest expense 87,172 76,140 71,343\nPre-provision profit(a) 70,932 52,555 50,306\nProvision for credit losses 9,320 6,389 (9,256)\nNet income $ 49,552 $ 37,676 $ 48,334",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000006_segments",
      "report_id": "ID_000006",
      "company_name": "JP Morgan Chase & Co",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer & Community, Corporate & Investment, Commercial, Asset & Wealth",
      "golden_context": "Page 13:\n\nConsumer &\nCommunity\nBanking\nAverage deposits ($B)1\nDeposits market share2\n# of top 50 markets where\nwe are #1 (top 3)\nBusiness Banking primary market\nshare3\nClient investment assets ($B)1\nTotal payments volume ($T)4\n% of digital non-card payments5\nCredit card sales ($B)\nDebit card sales ($B)\nDebit and credit card sales volume ($B)\nCredit card sales market share6\nCredit card loans ($B, EOP)\nCredit card loans market share7\nActive mobile customers (M)\n# of branches\n# of advisors1\n$187\n4.5%\n6 (12)\n4.0%\nNA\nNA\n~20%\n$225\nNA\nNA\n15%\n$142\n19%\nNA\n2,641\nNM\n$453\n7.5%\n7 (22)\n6.8%\n$189\n$1.4\n45%\n$419\n$224\n$664\n21%\n$128\n17%\n15.6\n5,630\n3,044\n$1,163\n10.9%\n11 (25)\n9.3%\n$647\n$5.6\n77%\n$1,065\n$491\n$1,555\n22%\n$185\n17%\n49.7\n4,787\n5,029\n$1,127\n11.3%\n12 (26)\n9.5%\n$951\n$5.9\n79%\n$1,164\n$515\n$1,679\n23%\n$211\n17%\n53.8\n4,897\n5,456\n Serve 82 million U.S. consumers and 6.4 million\nsmall businesses\n 67 million active digital customers8\n, including\n54 million active mobile customers9\n Primary bank relationships for ~80% of\nconsumer checking accounts\n #1 retail deposit share\n #1 deposit market share position in 4 out of the\n5 largest banking markets in the country (NY, LA,\nChicago, and San Francisco), while maintaining\nbranch presence in all contiguous 48 U.S. states\n #1 primary bank for U.S. small businesses\n #1 U.S. credit card issuer based on sales and\noutstandings10\n #1 owned mortgage servicer11\n #1 bank auto lender12\nCorporate &\nInvestment\nBank\nTotal Markets revenue13\nMarket share13\nFICC13\n Market share13\nEquities13\n Market share13\nGlobal investment banking fees14\nMarket share14\nAssets under custody (AUC) ($T)\nAverage client deposits ($B)15\nFirmwide Payments revenue ($B)16\nFirmwide Payments revenue rank\n(share)17\nFirmwide average daily security\npurchases and sales ($T)\n2006\n#8\n6.3%\n#7\n7.0%\n#8\n5.0%\n#2\n8.7%\n$10.7\n$155\n$4.9\nNA\nNA\n#1\n9.0%\n#1\n9.6%\n#3\n7.9%\n#1\n8.7%\n$20.5\n$384\n$7.8\nNA\nNA\n#1\n11.5%\n#1\n10.8%\n#1\n12.9%\n#1\n7.8%\n$28.6\n$687\n$13.9\n#1 (8.1%)\n$3.1\n#1\n 11.4%\n#1\n 11.0%\n#2\n 12.3%\n#1\n8.8%\n $32.4\n $645\n $18.2\nCo-#1 (9.0%)\n $3.0\n >90% of Fortune 500 companies do business\nwith us\n Presence in over 100 markets globally\n #1 in global investment banking fees for the 15th\nconsecutive year14\n Consistently ranked #1 in Markets revenue since\n201113\n J.P. Morgan Research ranked as the #1 Global\nResearch Firm, #2 Global Equity Research Team\nand #1 Global Fixed Income Research Team18\n #1 in USD payments volume19\n 27.1% USD SWIFT market share20\n #1 in U.S. Merchant volume processing21\n #3 Custodian globally by revenue22\nCommercial\nBanking\n# of top 75 MSAs with dedicated teams23\n# of bankers\nNew relationships (gross)24\nAverage loans ($B)\nAverage deposits ($B)\nGross investment banking revenue ($B)25\nMultifamily lending26\n 36\n 1,208\n NA\n $48.1\n $66.1\n $0.6\n#29\n 52\n 1,242\nNA\n$132.0\n$198.4\n$1.7\n#1\n69\n2,360\n2,277\n$223.7\n$294.2\n$3.0\n#1\n 72\n2,888\n4,940\n$268.3\n$267.8\n$3.4\n#1\n 151 locations across the U.S. and 39 international\nlocations, with 16 new cities added in 2023\n $2.2B revenue from Middle Market expansion\nmarkets, up 45% YoY\n Credit, banking and treasury services to ~34K\nCommercial & Industrial clients and ~36K real\nestate owners and investors\n 18 specialized industry coverage teams\n #1 overall Middle Market Bookrunner in the U.S.27\n Approximately 28,000 incremental affordable\nhousing units financed in 202328\nAsset & Wealth\nManagement",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_cash_flow",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "7.3bn€\n\nRounding errors are ok.",
      "golden_context": "Page 3:\n\nAt a glance\n1 Some prior-year figures restated due to a change in the recognition of tax benefits to subsidise renewables in the USA (see page 47).\n2 Adjusted figure, as power purchases from generation assets in which RWE does not own the majority, but which we have long-term usage rights to, are no longer considered.\n3 Taxonomy-eligible economic activity is activity which is subject to criteria under the EU Taxonomy Regulation – irrespective of whether the criteria are met (see page 34 et seq.).\n4 Dividend proposal for fiscal 2021, subject to the passing of a resolution by the 28 April 2022 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key figures1 2021 2020 + / –\nPower generation GWh 160,773 141,2042 19,569\nExternal revenue (excluding natural gas tax / electricity tax) € million 24,526 13,688 10,838\nAdjusted EBITDA € million 3,650 3,286 364\nAdjusted EBIT € million 2,185 1,823 362\nIncome from continuing operations before tax € million 1,522 1,265 257\nNet income / income attributable to RWE AG shareholders € million 721 1,051 – 330\nAdjusted net income € million 1,569 1,257 312\nCash flows from operating activities of continuing operations € million 7,274 4,125 3,149\nCapital expenditure € million 3,769 3,358 411\nProperty, plant and equipment and intangible assets € million 3,689 2,285 1,404\nFinancial assets € million 80 1,073 – 993\nProportion of taxonomy-eligible investments3 % 88 – –\nFree cash flow € million 4,562 1,132 3,430\nNumber of shares outstanding (annual average) thousands 676,220 637,286 38,934\nEarnings per share € 1.07 1.65 – 0.58\nAdjusted net income per share € 2.32 1.97 0.35\nDividend per share € 0.904 0.85 0.05\n31 Dec 2021 31 Dec 2020\nNet assets (+) / net debt (–) € million 360 – 4,432 4,792\nWorkforce5 18,246 19,498 – 1,252",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_company_type",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "AG",
      "golden_context": "Page 3:\n\nAt a glance\n1 Some prior-year figures restated due to a change in the recognition of tax benefits to subsidise renewables in the USA (see page 47).\n2 Adjusted figure, as power purchases from generation assets in which RWE does not own the majority, but which we have long-term usage rights to, are no longer considered.\n3 Taxonomy-eligible economic activity is activity which is subject to criteria under the EU Taxonomy Regulation – irrespective of whether the criteria are met (see page 34 et seq.).\n4 Dividend proposal for fiscal 2021, subject to the passing of a resolution by the 28 April 2022 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key figures1 2021 2020 + / –\nPower generation GWh 160,773 141,2042 19,569\nExternal revenue (excluding natural gas tax / electricity tax) € million 24,526 13,688 10,838\nAdjusted EBITDA € million 3,650 3,286 364\nAdjusted EBIT € million 2,185 1,823 362\nIncome from continuing operations before tax € million 1,522 1,265 257\nNet income / income attributable to RWE AG shareholders € million 721 1,051 – 330\nAdjusted net income € million 1,569 1,257 312\nCash flows from operating activities of continuing operations\n\nPage 189:\n\nI. Affiliated companies which are included in the consolidated financial statements Shareholding in % Equity Net income / loss\nDirect Total € ’000 € ’000\nRheinbraun Brennstoff GmbH, Cologne 100 82,619 1\nRheinische Baustoffwerke GmbH, Bergheim 100 9,236 1\nRheinkraftwerk Albbruck-Dogern Aktiengesellschaft, Waldshut-Tiengen 77 32,103 1,757\nRhenas Insurance Limited, Sliema/Malta 100 100 60,708 1,327\nRhyl Flats Wind Farm Limited, Swindon/United Kingdom 50 127,978 13,150\nRoscoe WF Holdco, LLC, Wilmington/USA 100 1,711 – 150,971\nRoscoe Wind Farm, LLC, Wilmington/USA 100 1,711 – 150,971\nRV Rheinbraun Handel und Dienstleistungen GmbH, Cologne 100 36,694 1\nRWE & Turcas Güney Elektrik Üretim A.S., Ankara/Turkey 70 97,561 – 1,220\nRWE Aktiengesellschaft, Essen 8,359,158 1,108,098\nRWE Battery Solutions GmbH, Essen 100 1,180 1\nRWE Bergheim Windparkbetriebsgesellschaft mbH, Hanover 100 25 1\nRWE Brise Windparkbetriebsgesellschaft mbH, Hanover 100 226 1\nRWE Canada Ltd., Saint John/Canada 100 4,635 – 596\nRWE Eemshaven Holding II B.V., Geertruidenberg/Netherlands 100 – 953,590 – 450,075\nRWE Energie Odnawialne Sp. z o.o., Szczecin/Poland 100 117,729 11,227\nRWE Energy Services, LLC, Wilmington/USA 100 856 – 44\nRWE Evendorf Windparkbetriebsgesellschaft mbH, Hanover 100 25 1\nRWE Gas Storage CZ, s.r.o., Prague/Czech Republic 100 347,075 26,423\nRWE Gas Storage West GmbH, Dortmund 100 350,087 1\nRWE Generation Holding B.V., Geertruidenberg/Netherlands 100 – 56,300 39,100\nRWE Generation Hydro GmbH, Essen 100 25 1\nRWE Generation NL B.V., Geertruidenberg/Netherlands 100 – 550,990 – 296,475",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_key_financials",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "generated 161k GWh. Adjusted EBITDA 4bn€. EBIT 2.2bn€. Net income 721m. EPS 1.07\n\nExternal revenue 24526m EUR, Adjusted EBIT: 2185m EUR, 1.07 EUR earnings per share (EPS), 4562m EUR free cash flow, \n\n1569m EUR adjusted net income",
      "golden_context": "Page 3:\n\nAt a glance\n1 Some prior-year figures restated due to a change in the recognition of tax benefits to subsidise renewables in the USA (see page 47).\n2 Adjusted figure, as power purchases from generation assets in which RWE does not own the majority, but which we have long-term usage rights to, are no longer considered.\n3 Taxonomy-eligible economic activity is activity which is subject to criteria under the EU Taxonomy Regulation – irrespective of whether the criteria are met (see page 34 et seq.).\n4 Dividend proposal for fiscal 2021, subject to the passing of a resolution by the 28 April 2022 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key figures1 2021 2020 + / –\nPower generation GWh 160,773 141,2042 19,569\nExternal revenue (excluding natural gas tax / electricity tax) € million 24,526 13,688 10,838\nAdjusted EBITDA € million 3,650 3,286 364\nAdjusted EBIT € million 2,185 1,823 362\nIncome from continuing operations before tax € million 1,522 1,265 257\nNet income / income attributable to RWE AG shareholders € million 721 1,051 – 330\nAdjusted net income € million 1,569 1,257 312\nCash flows from operating activities of continuing operations € million 7,274 4,125 3,149\nCapital expenditure € million 3,769 3,358 411\nProperty, plant and equipment and intangible assets € million 3,689 2,285 1,404\nFinancial assets € million 80 1,073 – 993\nProportion of taxonomy-eligible investments3 % 88 – –\nFree cash flow € million 4,562 1,132 3,430\nNumber of shares outstanding (annual average) thousands 676,220 637,286 38,934\nEarnings per share € 1.07 1.65 – 0.58\nAdjusted net income per share € 2.32 1.97 0.35\nDividend per share € 0.904 0.85 0.05\n31 Dec 2021 31 Dec 2020\nNet assets (+) / net debt (–) € million 360 – 4,432 4,792\nWorkforce5 18,246 19,498 – 1,252",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_revenue",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "25bn€",
      "golden_context": "Page 3:\n\nAt a glance\n1 Some prior-year figures restated due to a change in the recognition of tax benefits to subsidise renewables in the USA (see page 47).\n2 Adjusted figure, as power purchases from generation assets in which RWE does not own the majority, but which we have long-term usage rights to, are no longer considered.\n3 Taxonomy-eligible economic activity is activity which is subject to criteria under the EU Taxonomy Regulation – irrespective of whether the criteria are met (see page 34 et seq.).\n4 Dividend proposal for fiscal 2021, subject to the passing of a resolution by the 28 April 2022 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key figures1 2021 2020 + / –\nPower generation GWh 160,773 141,2042 19,569\nExternal revenue (excluding natural gas tax / electricity tax) € million 24,526 13,688 10,838\nAdjusted EBITDA € million 3,650 3,286 364\nAdjusted EBIT € million 2,185 1,823 362\nIncome from continuing operations before tax € million 1,522 1,265 257\nNet income / income attributable to RWE AG shareholders € million 721 1,051 – 330\nAdjusted net income € million 1,569 1,257 312\nCash flows from operating activities of continuing operations € million 7,274 4,125 3,149\nCapital expenditure € million 3,769 3,358 411\nProperty, plant and equipment and intangible assets € million 3,689 2,285 1,404\nFinancial assets € million 80 1,073 – 993\nProportion of taxonomy-eligible investments3 % 88 – –\nFree cash flow € million 4,562 1,132 3,430\nNumber of shares outstanding (annual average) thousands 676,220 637,286 38,934\nEarnings per share € 1.07 1.65 – 0.58\nAdjusted net income per share € 2.32 1.97 0.35\nDividend per share € 0.904 0.85 0.05\n31 Dec 2021 31 Dec 2020\nNet assets (+) / net debt (–) € million 360 – 4,432 4,792\nWorkforce5 18,246 19,498 – 1,252",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_revenue_growth",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "25bn€, 14bn€.",
      "golden_context": "Page 3:\n\nAt a glance\n1 Some prior-year figures restated due to a change in the recognition of tax benefits to subsidise renewables in the USA (see page 47).\n2 Adjusted figure, as power purchases from generation assets in which RWE does not own the majority, but which we have long-term usage rights to, are no longer considered.\n3 Taxonomy-eligible economic activity is activity which is subject to criteria under the EU Taxonomy Regulation – irrespective of whether the criteria are met (see page 34 et seq.).\n4 Dividend proposal for fiscal 2021, subject to the passing of a resolution by the 28 April 2022 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key figures1 2021 2020 + / –\nPower generation GWh 160,773 141,2042 19,569\nExternal revenue (excluding natural gas tax / electricity tax) € million 24,526 13,688 10,838\nAdjusted EBITDA € million 3,650 3,286 364\nAdjusted EBIT € million 2,185 1,823 362\nIncome from continuing operations before tax € million 1,522 1,265 257\nNet income / income attributable to RWE AG shareholders € million 721 1,051 – 330\nAdjusted net income € million 1,569 1,257 312\nCash flows from operating activities of continuing operations € million 7,274 4,125 3,149\nCapital expenditure € million 3,769 3,358 411\nProperty, plant and equipment and intangible assets € million 3,689 2,285 1,404\nFinancial assets € million 80 1,073 – 993\nProportion of taxonomy-eligible investments3 % 88 – –\nFree cash flow € million 4,562 1,132 3,430\nNumber of shares outstanding (annual average) thousands 676,220 637,286 38,934\nEarnings per share € 1.07 1.65 – 0.58\nAdjusted net income per share € 2.32 1.97 0.35\nDividend per share € 0.904 0.85 0.05\n31 Dec 2021 31 Dec 2020\nNet assets (+) / net debt (–) € million 360 – 4,432 4,792\nWorkforce5 18,246 19,498 – 1,252",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000007_segments",
      "report_id": "ID_000007",
      "company_name": "RWE",
      "year": 2021,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Offshore wind, onshore wind, battery storage, gas plants, hydrogen, trading & customer solutions, coal plants, wind, solar, nuclear, \n\nIt is also acceptable if the regions are named here. But the actual segments from above must be there.",
      "golden_context": "Page 49:\n\nPower generation1 Renewables Pumped storage,\nbatteries\nGas Lignite Hard coal Nuclear Total2\nGWh 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nOffshore Wind 7,564 7,009 – – – – – – – – – – 7,564 7,009\nOnshore Wind / Solar 16,709 16,762 – – – – – – – – – – 16,709 16,762\nHydro / Biomass / Gas 7,899 5,832 41 80 52,257 46,894 – – 6,952 3,584 – – 67,321 56,600\nof which:\nGermany 1,645 1,546 41 80 5,988 8,576 – – – – – – 7,846 10,412\nUnited Kingdom 493 5733 – – 35,263 25,138 – – – – – – 35,756 25,711\nNetherlands 5,725 3,679 – – 6,647 8,899 – – 6,952 3,584 – – 19,324 16,162\nTurkey – – – – 4,359 4,281 – – – – – – 4,359 4,281\nCoal / Nuclear 18 19 – – 147 726 45,916 36,649 188 2,549 22,704 20,682 69,179 60,833\nRWE Group 32,190 29,622 41 80 52,404 47,620 45,916 36,649 7,140 6,133 22,704 20,682 160,773 141,204\n\nPage 51:\n\nInstalled capacity1 Renewables Pumped storage,\nbatteries\nGas Lignite Hard coal Nuclear Total2\nAs of 31 December, MW 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nOffshore Wind 2,318 1,918 – – – – – – – – – – 2,318 1,918\nOnshore Wind / Solar 7,082 6,858 28 20 – – – – – – – – 7,110 6,877\nHydro / Biomass / Gas 1,285 1,319 168 172 13,901 13,901 – – 1,469 1,474 – – 17,115 17,158\nof which:\nGermany 393 389 168 172 3,807 3,807 – – – – – – 4,407 4,407\nUnited Kingdom 139 137 – – 6,984 6,984 – – – – – – 7,376 7,374\nNetherlands / Belgium 753 748 – – 2,323 2,323 – – 1,469 1,474 – – 4,545 4,545\nTurkey – – – – 787 787 – – – – – – 787 787\nCoal / Nuclear 12 7 – – 400 400 7,638 8,548 – – 1,482 2,770 9,559 11,752\nRWE Group3 10,697 10,102 199 194 14,301 14,301 7,638 8,548 1,469 1,474 1,482 2,770 36,104 37,708",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000008_cash_flow",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "-2bn FCF; operating 2.4bn, total 1.2bn",
      "golden_context": "Page 3:\n\nAt a glance\n1 Prior-year \"gures relating to power generation, external revenue and adjusted net income restated.\n2 Taxonomy-aligned activities are economic activities which meet criteria under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding LLC have been taken into account since the bond was issued on 10 October 2022.\nThey have been prorated and included in the number of shares.\n4 Dividend proposal for \"scal 2022, subject to the passing of a resolution by the 4 May 2023 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key !gures1 2022 2021 +/–\nPower generation GWh 156,794 160,547 –3,753\nExternal revenue (excluding natural gas tax/electricity tax) ! million 38,366 24,571 13,795\nAdjusted EBITDA ! million 6,310 3,650 2,660\nAdjusted EBIT ! million 4,568 2,185 2,383\nIncome before tax ! million 715 1,522 –807\nNet income/ income attributable to RWE AG shareholders ! million 2,717 721 1,996\nAdjusted net income ! million 3,232 1,554 1,678\nCash $ows from operating activities ! million 2,406 7,274 –4,868\nCapital expenditure ! million 4,484 3,769 715\nProperty, plant and equipment and intangible assets ! million 3,303 3,689 –386\nFinancial assets ! million 1,181 80 1,101\nProportion of taxonomy-aligned investments2 % 83 – –\nFree cash $ow ! million –1,968 4,562 –6,530\nNumber of shares outstanding (annual average) thousands 691,2473 676,220 15,027\nEarnings per share ! 3.93 1.07 2.86\nAdjusted net income per share ! 4.68 2.30 2.38\nDividend per share ! 0.904 0.90 –\n31 Dec 2022 31 Dec 2021\nNet cash (+) /net debt (–) ! million 1,630 360 1,270\nWorkforce5 18,310 18,246 64",
      "eval_correct_all_info_there": "There was not enough test compute time allocated to this question",
      "eval_correct_no_hallucination": "There was not enough test compute time allocated to this question"
    },
    {
      "unique_key": "ID_000008_company_type",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "AG",
      "golden_context": "Page 3:\n\nAt a glance\n1 Prior-year \"gures relating to power generation, external revenue and adjusted net income restated.\n2 Taxonomy-aligned activities are economic activities which meet criteria under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding LLC have been taken into account since the bond was issued on 10 October 2022.\nThey have been prorated and included in the number of shares.\n4 Dividend proposal for \"scal 2022, subject to the passing of a resolution by the 4 May 2023 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key !gures1 2022 2021 +/–\nPower generation GWh 156,794 160,547 –3,753\nExternal revenue (excluding natural gas tax/electricity tax) ! million 38,366 24,571 13,795\nAdjusted EBITDA ! million 6,310 3,650 2,660\nAdjusted EBIT ! million 4,568 2,185 2,383\nIncome before tax ! million 715 1,522 –807\nNet income/ income attributable to RWE AG shareholders !\n\n\nPage 222:\n\nI. A\"iliated companies which are included in the consolidated !nancial statements Shareholding in % Equity Net income/ loss\nDirect Total ! ’000 ! ’000\nPV 700 Sp. z o.o., Warsaw/Poland 100 –1 –2\nPV 710 Sp. z o.o., Warsaw/Poland 100 –1 –1\nPV 720 Sp. z o.o., Warsaw/Poland 100 –2 –3\nPV 730 Sp. z o.o., Warsaw/Poland 100 –4 –5\nPV 740 Sp. z o.o., Warsaw/Poland 100 –1 –1\nPyron Wind Farm, LLC, Wilmington/USA 100 85,721 16,222\nRadford’s Run Holdco, LLC, Wilmington/USA 100 134,709 –580\nRadford’s Run Wind Farm, LLC, Wilmington/USA 100 345,710 –67,964\nRampion O%shore Wind Limited, Coventry/United Kingdom 50 827,525 139,563\nRampion Renewables Limited, Coventry/United Kingdom 100 701,160 256,031\nRenewables Solar Holding GmbH, Essen 100 41,701 38,816\nRheinbraun Brennsto% GmbH, Cologne 100 82,619 1\nRheinische Bausto%werke GmbH, Bergheim 100 9,236 1\nRheinkraftwerk Albbruck-Dogern Aktiengesellschaft, Waldshut-Tiengen 77 32,191 1,757\nRhenas Insurance Limited, St. Julians/Malta 100 100 54,673 607\nRhyl Flats Wind Farm Limited, Swindon/United Kingdom 50 116,133 23,589\nRoscoe WF Holdco, LLC, Wilmington/USA 100 1,990 175\nRoscoe Wind Farm, LLC, Wilmington/USA 100 1,990 175\nRV Rheinbraun Handel und Dienstleistungen GmbH, Cologne 100 36,694 1\nRWE&Turcas Güney Elektrik Üretim A.S., Ankara/Türkiye 70 93,476 19,026\nRWE Aktiengesellschaft, Essen 9,090,655 1,334,593\nRWE Battery Solutions GmbH, Essen 100 1,180 1\nRWE Bergheim Windparkbetriebsgesellschaft mbH, Hanover 100 25 ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000008_key_financials",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "157k GWh, 3.93 EPS EUR\n\nExternal revenue 38,366m EUR, \n\nAdjusted EBITDA 6,310m EUR, Adjusted EBIT 4,568m EUR, net income 2,717m EUR, free cash flow -1,968m EUR, earnings per share 3.93 EUR.",
      "golden_context": "Page 3:\n\nAt a glance\n1 Prior-year \"gures relating to power generation, external revenue and adjusted net income restated.\n2 Taxonomy-aligned activities are economic activities which meet criteria under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding LLC have been taken into account since the bond was issued on 10 October 2022.\nThey have been prorated and included in the number of shares.\n4 Dividend proposal for \"scal 2022, subject to the passing of a resolution by the 4 May 2023 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key !gures1 2022 2021 +/–\nPower generation GWh 156,794 160,547 –3,753\nExternal revenue (excluding natural gas tax/electricity tax) ! million 38,366 24,571 13,795\nAdjusted EBITDA ! million 6,310 3,650 2,660\nAdjusted EBIT ! million 4,568 2,185 2,383\nIncome before tax ! million 715 1,522 –807\nNet income/ income attributable to RWE AG shareholders ! million 2,717 721 1,996\nAdjusted net income ! million 3,232 1,554 1,678\nCash $ows from operating activities ! million 2,406 7,274 –4,868\nCapital expenditure ! million 4,484 3,769 715\nProperty, plant and equipment and intangible assets ! million 3,303 3,689 –386\nFinancial assets ! million 1,181 80 1,101\nProportion of taxonomy-aligned investments2 % 83 – –\nFree cash $ow ! million –1,968 4,562 –6,530\nNumber of shares outstanding (annual average) thousands 691,2473 676,220 15,027\nEarnings per share ! 3.93 1.07 2.86\nAdjusted net income per share ! 4.68 2.30 2.38\nDividend per share ! 0.904 0.90 –\n31 Dec 2022 31 Dec 2021\nNet cash (+) /net debt (–) ! million 1,630 360 1,270\nWorkforce5 18,310 18,246 64",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000008_revenue",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "38bn€",
      "golden_context": "Page 3:\n\nAt a glance\n1 Prior-year \"gures relating to power generation, external revenue and adjusted net income restated.\n2 Taxonomy-aligned activities are economic activities which meet criteria under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding LLC have been taken into account since the bond was issued on 10 October 2022.\nThey have been prorated and included in the number of shares.\n4 Dividend proposal for \"scal 2022, subject to the passing of a resolution by the 4 May 2023 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key !gures1 2022 2021 +/–\nPower generation GWh 156,794 160,547 –3,753\nExternal revenue (excluding natural gas tax/electricity tax) ! million 38,366 24,571 13,795\nAdjusted EBITDA ! million 6,310 3,650 2,660\nAdjusted EBIT ! million 4,568 2,185 2,383\nIncome before tax ! million 715 1,522 –807\nNet income/ income attributable to RWE AG shareholders ! million 2,717 721 1,996\nAdjusted net income ! million 3,232 1,554 1,678\nCash $ows from operating activities ! million 2,406 7,274 –4,868\nCapital expenditure ! million 4,484 3,769 715\nProperty, plant and equipment and intangible assets ! million 3,303 3,689 –386\nFinancial assets ! million 1,181 80 1,101\nProportion of taxonomy-aligned investments2 % 83 – –\nFree cash $ow ! million –1,968 4,562 –6,530\nNumber of shares outstanding (annual average) thousands 691,2473 676,220 15,027\nEarnings per share ! 3.93 1.07 2.86\nAdjusted net income per share ! 4.68 2.30 2.38\nDividend per share ! 0.904 0.90 –\n31 Dec 2022 31 Dec 2021\nNet cash (+) /net debt (–) ! million 1,630 360 1,270\nWorkforce5 18,310 18,246 64",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000008_revenue_growth",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "38bn€, 25bn€",
      "golden_context": "Page 3:\n\nAt a glance\n1 Prior-year \"gures relating to power generation, external revenue and adjusted net income restated.\n2 Taxonomy-aligned activities are economic activities which meet criteria under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding LLC have been taken into account since the bond was issued on 10 October 2022.\nThey have been prorated and included in the number of shares.\n4 Dividend proposal for \"scal 2022, subject to the passing of a resolution by the 4 May 2023 Annual General Meeting.\n5 Converted to full-time positions.\nRWE Group – key !gures1 2022 2021 +/–\nPower generation GWh 156,794 160,547 –3,753\nExternal revenue (excluding natural gas tax/electricity tax) ! million 38,366 24,571 13,795\nAdjusted EBITDA ! million 6,310 3,650 2,660\nAdjusted EBIT ! million 4,568 2,185 2,383\nIncome before tax ! million 715 1,522 –807\nNet income/ income attributable to RWE AG shareholders ! million 2,717 721 1,996\nAdjusted net income ! million 3,232 1,554 1,678\nCash $ows from operating activities ! million 2,406 7,274 –4,868\nCapital expenditure ! million 4,484 3,769 715\nProperty, plant and equipment and intangible assets ! million 3,303 3,689 –386\nFinancial assets ! million 1,181 80 1,101\nProportion of taxonomy-aligned investments2 % 83 – –\nFree cash $ow ! million –1,968 4,562 –6,530\nNumber of shares outstanding (annual average) thousands 691,2473 676,220 15,027\nEarnings per share ! 3.93 1.07 2.86\nAdjusted net income per share ! 4.68 2.30 2.38\nDividend per share ! 0.904 0.90 –\n31 Dec 2022 31 Dec 2021\nNet cash (+) /net debt (–) ! million 1,630 360 1,270\nWorkforce5 18,310 18,246 64",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000008_segments",
      "report_id": "ID_000008",
      "company_name": "RWE",
      "year": 2022,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Offshore wind, onshore wind, battery storage, gas plants, hydrogen, trading & customer solutions, coal plants, wind, solar, nuclear, ",
      "golden_context": "Page 45:\n\n2.6 Business performance\nOur business performed so well in 2022 that we comfortably beat the earnings forecast\npublished at the beginning of the year. We achieved EBITDA of %6.3 billion. The\nprojected figure was between %3.6 billion and %4.0 billion. We also posted a significant\ngain over the previous year. This growth was predominantly due to improved\nBusiness performance in 2022: what we forecast and what we accomplished\n! million\nconditions on the power generation market and a very strong trading performance.\nFurthermore, we benefited from the expansion of renewables, as a large number of\nnew wind and solar farms contributed to the Group’s operating earnings for the first\ntime in 2022.\nForecast surpassed\nForecast met\n2021 actual\n2022 actual\nForecast for 20221\n1 See pages 67 et seq. of the 2021 Annual Report. The hatched portion reflects the forecast range.\n2 Adjusted figure (see commentary on page 44).\nAdjusted EBITDA\n2,185\n4,568\n3,232\n1,5542\n3,650\n6,310\n731\n2,369\n1,110\n1,412\n889\n2,761\n5,559\n769\n1,161\n258\n827\nRWE Group Core business Offshore Wind Onshore Wind/ Hydro/Biomass/Gas Supply&Trading Coal /Nuclear RWE Group RWE Group\nSolar\nAdjusted\nnet income\n\nPage 48:\n\nInstalled capacity1 Renewables Pumped storage,\nbatteries\nGas Lignite Hard coal Nuclear Total2\nAs of 31 December, MW 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nOffshore Wind 3,517 2,318 – – – – – – – – – – 3,517 2,318\nOnshore Wind/Solar 8,247 7,082 128 28 – – – – – – – – 8,375 7,110\nHydro/Biomass/Gas 1,263 1,285 296 168 13,869 13,901 – – 1,469 1,469 – – 17,200 17,115\nof which:\nGermany 377 393 296 168 3,830 3,807 – – – – – – 4,553 4,407\nUnited Kingdom 133 139 – – 6,929 6,984 – – – – – – 7,315 7,376\nNetherlands /Belgium 753 753 – – 2,323 2,323 – – 1,469 1,469 – – 4,545 4,545\nTürkiye – – – – 787 787 – – – – – – 787 787\nCoal /Nuclear 12 12 – – 400 400 8,250 8,5243 – – 1,482 1,482 10,171 10,4453\nRWE Group4 13,039 10,697 426 199 14,269 14,301 8,250 8,5243 1,469 1,469 1,482 1,482 39,265 36,9903\n\nPage 202:\n\nExternal revenue by product in 2022\n! million\nOffshore\nWind\nOnshore\nWind/Solar\nHydro/\nBiomass/Gas\nSupply&\nTrading\nOther Core business Coal/\nNuclear\nRWE Group\nExternal revenue1 1,401 2,232 1,830 31,959 37,422 944 38,366\nof which: electricity 1,377 2,165 1,323 25,958 30,823 204 31,027\nof which: gas 4,633 4,633 4,633\nof which: other revenue 24 67 507 1,368 1,966 740 2,706",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_cash_flow",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "op cash flow 9.7bn, 90% cash conversion",
      "golden_context": "Page 12:\n\nCash Generation Drives\nDebtDeleveraging\nWe continue to focus on a balanced\napproach of deleveraging, while investing\nfor the future and providing a return via\ndividends to shareholders.\nThe Group’s cash conversion ratio,\nbased upon net cash generated from\noperations, was 95% (2020: 98%) @and\nthe operating cash conversion ratio was\n104% (2020: 103%)@. The Group realised\n£9.7 billion (2020: £9.8 billion) of net cash\ngenerated from operating activities, @\nor £2.5 billion (2020: £2.6 billion) of free\ncash flow after dividends – which is a\nmeasure the Group uses to assess total\ncash generated by the Group with which\nto repay borrowings.@\nConsequently, in 2021, total borrowings\n(including lease liabilities) have reduced from\n£43,968 million in 2020 to £39,658 million in\n2021, due to the net repayment of borrowings\nin the year (including refinancing via issuance\nof perpetual hybrid bonds) and a currency\ntailwind of £409 million (2020: tailwind of\n£219 million). @We continued to deleverage\nour balance sheet with adjusted net debt\nto adjusted EBITDA ratio improved from\n3.3 times to 3.0 times.\n\nPage 13:\n\nOur performance metrics Target/Ambition 2021 % 2020 % 2019\nIFRS-GAAP\nKPI\nNon-GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 50 million consumers by 2030 18.3m 13.5m 10.5m\nMarket Share\nCigarette and THP volume share growth (bps) Grow by 0-10 bps (2021) +10 bps +30 bps +20 bps •\nCigarette and THP value share growth (bps) +20 bps +20 bps +30 bps\nVolume\nCigarettes (bn sticks) 637 0% 638 -5% 668\nOther Tobacco Products (bn stick equivalents) 18 -9% 20 -2% 21\nVapour (mn 10ml units/pods) 535 +56% 344 +52% 226\nTHP (bn sticks) 19 +79% 11 +19% 9\nModern Oral (mn pouches) 3,296 +70% 1,934 +62% 1,194\nTraditional Oral (bn stick equivalents) 8 -4% 8 -1% 8\nFinancial\nRevenue (£m) 25,684 -0.4% 25,776 -0.4% 25,877 •\nAdjusted Revenue at cc (%)1,2 3-5% CAGR +6.9% +3.3% • •\nRevenue from New Categories (£m) £5 billion by 2025 2,054 +42.4% 1,443 +14.9% 1,255 •\nRevenue from New Categories at cc (%)1 +50.9% +15.4% • •\nProfit from Operations (£m) 10,234 +2.7% 9,962 +10.5% 9,016 •\nAdjusted Profit from Operations at cc (%)1, 2 Increase 4.0% to 6.5% (2021) +5.2% +4.8% • •\nOperating Margin (%) 39.8% 38.6% 34.8% •\nAdjusted Operating Margin (%)2 43.4% 44.1% 43.1% •\nDiluted Earnings per Share (p) 295.6 +6.0% 278.9 +12.0% 249.0 •\nAdjusted Diluted Earnings per Share (p)2 @5-10% CAGR@ 329.0 -0.8% 331.7 +2.4% 323.8 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 @5-10% CAGR@ +6.6% +5.5% • •\nDividends per Share (p) 217.8 +1.0% 215.6 +2.5% 210.4\nDividend Pay-Out Ratio (%) @65% of long-term earnings@ 66% 65% 65%\nNet Cash Generated from Operating Activities (£m) 9,717 -0.7% 9,786 +8.8% 8,996 •\n@Free Cash Flow after Dividends (£m) 2,543 -0.3% 2,550 +32.7% 1,921 •\nCash Conversion (%) 95% 98% 100% •\n@Operating Cash Conversion (%) 85-95% each year on average 104% 103% 97% • •\nBorrowings, including Lease Liabilities (£m) 39,658 -9.8% 43,968 -3.1% 45,366 •\n@Adjusted Net Debt to Adjusted EBITDA (ratio)2 Around 3.0x by year end 2021 3.0x 3.3x 3.5x • •\n@Adjusted Return on Capital Employed (%)2 9% 10% 9%\nTotal Shareholder Return (rank) 17 of 24 20 of 23 21 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_company_type",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc\n\nThis is not explicitly mentioned in the context. An answer that states that this information cannot be infered from the context is thus correct. An answer correctly identifying the legal form (plc) is also ok.",
      "golden_context": "Not explicitly mentioned in the context.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_key_financials",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "EPS grew 6.6% to 296.p, 26bn GBP revenue\n\nReported operating margin grew by 120 bps to 39.8%. \n\nProfit from operations 10234m GBP.\n\nAdjusted net debt to adjusted EBITDA 3.0x.",
      "golden_context": "Page 3:\n\n£5 billion\nin New Category revenues\n100%\nof plastic packaging capable\nof being reusable, recyclable or\ncompostable and unnecessary\nsingle-use plastic removed\n Zero\nchild labour ambition for our\ntobacco supply chain\n Net Zero\nvalue chain\nIn October 2021, we signed\nup to the UN-backed Race\nto Zero global campaign,\ncommitting to set sciencebased targets aiming\nfor net zero value chain\nemissions by 20\n\nPage 9:\n\nOur strategy has a clear focus on\nenvironmental, social and governance\n(ESG) priorities, including addressing\nclimate change and excellence in\nenvironmental management, delivering\na positive social impact and ensuring\nrobust corporate governance.\nWe have many bold ESG targets, including\nbecoming a carbon neutral business by\n2030 and making all plastic packaging\nreusable, recyclable or compostable\nby 2025.\nIn 2021, we also signed up to the UNbacked Race to Zero global campaign\nand committed to setting science-based\ntargets aiming for net zero value chain\nemissions by 2050.\nOur sustainability actions have long been\nrecognised externally and, in 2021, we were\nnamed in the Dow Jones Sustainability\nIndices (DJSI) for the 20th consecutive year.\nWe continue to strive for excellence and\nlook for new ways to reduce our resource\nuse, preserve the natural environment,\nimprove the lives of farmers and\ncommunities, and uphold robust\ncorporate governance standards.\nOur Performance for Year Ended\n31 December 2021\nWe performed strongly across our\nkey indicators during the year ended\n31 December 2021.\nDue to a foreign currency headwind of 7.3%,\nrevenue was lower than 2020 (down 0.4%)\nat £25,684 million. At constant rates of\nexchange, the Group revenue increased 6.9%.\nCurrency headwinds also impacted profit\nfrom operations, increasing by 2.7% to\n£10,234 million with diluted earnings per\nshare up 6.0%.\nExcluding adjusting items and the impact\nof foreign exchange, adjusted profit from\noperations, at constant rates of exchange,\ngrew by 5.2% and adjusted diluted earnings\nper share grew by 6.6%.\nReported operating margin grew by\n120 bps to 39.8%. On an adjusted basis,\nit fell by 70 bps at current rates.\nWe have continued to demonstrate the\nongoing strength of the Group in turning\noperating performance into cash @with\noperating cash conversion of 104% (partly\ndue to the structural excise changes in\nAustralia), ahead of our target of at least\n90%, being a key contributor in delivering\nour deleveraging ambitions@.\nDelivering a Step Change\ninNewCategories\nFundamental to building A Better TomorrowTM\nis the acceleration of our transformation\nand investing to provide our consumers\nwith enjoyable, less risky*† products.\nWe encourage those consumers who\nwould otherwise continue to smoke\nto switch completely to scientificallysubstantiated, reduced-risk alternatives*†.\nEach of our New Category brands grew\nrevenue by more than 30%, with total\nNew Categories revenue up 42.4% to\n£2,054 million. Excluding the impact of\nforeign exchange, adjusted revenue from\nNew Categories, at constant rates of\nexchange, grew 50.9%.\nThe performance of our reduced-risk*†\nportfolio of New Category products,\nencompassing our strong global brands,\nVuse, glo and Velo, places us on track to\nreach the targets we set ourselves of:\n– £5 billion of revenue and profitability\nin our New Categories by 2025; and\n– 50 million consumers of non-combustible\nproducts by 2030.\nDriving Value from Combustibles\nThe continued performance of our\ncombustibles business will generate\nthe funds necessary to invest in New\nCategories and transform the business.\nGroup cigarette value share increased\nby 10 bps compared with 2020, driven by\nthe continued positive performance of\nthe strategic cigarette brands in the U.S.\n(up 80 bps).\nGroup cigarette volume share fell 10 bps.\nPricing continued to be strong, with\ncombustibles price/mix of 4.3%.\nGroup cigarette volume was largely in\nline with 2020, down just 0.1% to 637 bn\nsticks, (with the industry estimated to be\nbroadly in line with 2020), driven by our\nperformance in emerging markets and\npartly due to trade inventory movements in\nthe U.S. (mainly linked to the timing of price\nincreases and uncertainty about a potential\nexcise increase) which are expected to\nunwind in early 2022.\n\nPage 12:\n\nCash Generation Drives\nDebtDeleveraging\nWe continue to focus on a balanced\napproach of deleveraging, while investing\nfor the future and providing a return via\ndividends to shareholders.\nThe Group’s cash conversion ratio,\nbased upon net cash generated from\noperations, was 95% (2020: 98%) @and\nthe operating cash conversion ratio was\n104% (2020: 103%)@. The Group realised\n£9.7 billion (2020: £9.8 billion) of net cash\ngenerated from operating activities, @\nor £2.5 billion (2020: £2.6 billion) of free\ncash flow after dividends – which is a\nmeasure the Group uses to assess total\ncash generated by the Group with which\nto repay borrowings.@\nConsequently, in 2021, total borrowings\n(including lease liabilities) have reduced from\n£43,968 million in 2020 to £39,658 million in\n2021, due to the net repayment of borrowings\nin the year (including refinancing via issuance\nof perpetual hybrid bonds) and a currency\ntailwind of £409 million (2020: tailwind of\n£219 million). @We continued to deleverage\nour balance sheet with adjusted net debt\nto adjusted EBITDA ratio improved from\n3.3 times to 3.0 times.\n\nPage 13:\n\nOur performance metrics Target/Ambition 2021 % 2020 % 2019\nIFRS-GAAP\nKPI\nNon-GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 50 million consumers by 2030 18.3m 13.5m 10.5m\nMarket Share\nCigarette and THP volume share growth (bps) Grow by 0-10 bps (2021) +10 bps +30 bps +20 bps •\nCigarette and THP value share growth (bps) +20 bps +20 bps +30 bps\nVolume\nCigarettes (bn sticks) 637 0% 638 -5% 668\nOther Tobacco Products (bn stick equivalents) 18 -9% 20 -2% 21\nVapour (mn 10ml units/pods) 535 +56% 344 +52% 226\nTHP (bn sticks) 19 +79% 11 +19% 9\nModern Oral (mn pouches) 3,296 +70% 1,934 +62% 1,194\nTraditional Oral (bn stick equivalents) 8 -4% 8 -1% 8\nFinancial\nRevenue (£m) 25,684 -0.4% 25,776 -0.4% 25,877 •\nAdjusted Revenue at cc (%)1,2 3-5% CAGR +6.9% +3.3% • •\nRevenue from New Categories (£m) £5 billion by 2025 2,054 +42.4% 1,443 +14.9% 1,255 •\nRevenue from New Categories at cc (%)1 +50.9% +15.4% • •\nProfit from Operations (£m) 10,234 +2.7% 9,962 +10.5% 9,016 •\nAdjusted Profit from Operations at cc (%)1, 2 Increase 4.0% to 6.5% (2021) +5.2% +4.8% • •\nOperating Margin (%) 39.8% 38.6% 34.8% •\nAdjusted Operating Margin (%)2 43.4% 44.1% 43.1% •\nDiluted Earnings per Share (p) 295.6 +6.0% 278.9 +12.0% 249.0 •\nAdjusted Diluted Earnings per Share (p)2 @5-10% CAGR@ 329.0 -0.8% 331.7 +2.4% 323.8 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 @5-10% CAGR@ +6.6% +5.5% • •\nDividends per Share (p) 217.8 +1.0% 215.6 +2.5% 210.4\nDividend Pay-Out Ratio (%) @65% of long-term earnings@ 66% 65% 65%\nNet Cash Generated from Operating Activities (£m) 9,717 -0.7% 9,786 +8.8% 8,996 •\n@Free Cash Flow after Dividends (£m) 2,543 -0.3% 2,550 +32.7% 1,921 •\nCash Conversion (%) 95% 98% 100% •\n@Operating Cash Conversion (%) 85-95% each year on average 104% 103% 97% • •\nBorrowings, including Lease Liabilities (£m) 39,658 -9.8% 43,968 -3.1% 45,366 •\n@Adjusted Net Debt to Adjusted EBITDA (ratio)2 Around 3.0x by year end 2021 3.0x 3.3x 3.5x • •\n@Adjusted Return on Capital Employed (%)2 9% 10% 9%\nTotal Shareholder Return (rank) 17 of 24 20 of 23 21 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_revenue",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "26bn rev",
      "golden_context": "Page 13:\n\nOur performance metrics Target/Ambition 2021 % 2020 % 2019\nIFRS-GAAP\nKPI\nNon-GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 50 million consumers by 2030 18.3m 13.5m 10.5m\nMarket Share\nCigarette and THP volume share growth (bps) Grow by 0-10 bps (2021) +10 bps +30 bps +20 bps •\nCigarette and THP value share growth (bps) +20 bps +20 bps +30 bps\nVolume\nCigarettes (bn sticks) 637 0% 638 -5% 668\nOther Tobacco Products (bn stick equivalents) 18 -9% 20 -2% 21\nVapour (mn 10ml units/pods) 535 +56% 344 +52% 226\nTHP (bn sticks) 19 +79% 11 +19% 9\nModern Oral (mn pouches) 3,296 +70% 1,934 +62% 1,194\nTraditional Oral (bn stick equivalents) 8 -4% 8 -1% 8\nFinancial\nRevenue (£m) 25,684 -0.4% 25,776 -0.4% 25,877 •\nAdjusted Revenue at cc (%)1,2 3-5% CAGR +6.9% +3.3% • •\nRevenue from New Categories (£m) £5 billion by 2025 2,054 +42.4% 1,443 +14.9% 1,255 •\nRevenue from New Categories at cc (%)1 +50.9% +15.4% • •\nProfit from Operations (£m) 10,234 +2.7% 9,962 +10.5% 9,016 •\nAdjusted Profit from Operations at cc (%)1, 2 Increase 4.0% to 6.5% (2021) +5.2% +4.8% • •\nOperating Margin (%) 39.8% 38.6% 34.8% •\nAdjusted Operating Margin (%)2 43.4% 44.1% 43.1% •\nDiluted Earnings per Share (p) 295.6 +6.0% 278.9 +12.0% 249.0 •\nAdjusted Diluted Earnings per Share (p)2 @5-10% CAGR@ 329.0 -0.8% 331.7 +2.4% 323.8 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 @5-10% CAGR@ +6.6% +5.5% • •\nDividends per Share (p) 217.8 +1.0% 215.6 +2.5% 210.4\nDividend Pay-Out Ratio (%) @65% of long-term earnings@ 66% 65% 65%\nNet Cash Generated from Operating Activities (£m) 9,717 -0.7% 9,786 +8.8% 8,996 •\n@Free Cash Flow after Dividends (£m) 2,543 -0.3% 2,550 +32.7% 1,921 •\nCash Conversion (%) 95% 98% 100% •\n@Operating Cash Conversion (%) 85-95% each year on average 104% 103% 97% • •\nBorrowings, including Lease Liabilities (£m) 39,658 -9.8% 43,968 -3.1% 45,366 •\n@Adjusted Net Debt to Adjusted EBITDA (ratio)2 Around 3.0x by year end 2021 3.0x 3.3x 3.5x • •\n@Adjusted Return on Capital Employed (%)2 9% 10% 9%\nTotal Shareholder Return (rank) 17 of 24 20 of 23 21 of 23 •\nESG\nFind our key ESG goals, targets and metrics\nin our ESG Roadmap on page 47.\nO",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_revenue_growth",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "26bn -> 26bn",
      "golden_context": "Page 13:\n\nOur performance metrics Target/Ambition 2021 % 2020 % 2019\nIFRS-GAAP\nKPI\nNon-GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 50 million consumers by 2030 18.3m 13.5m 10.5m\nMarket Share\nCigarette and THP volume share growth (bps) Grow by 0-10 bps (2021) +10 bps +30 bps +20 bps •\nCigarette and THP value share growth (bps) +20 bps +20 bps +30 bps\nVolume\nCigarettes (bn sticks) 637 0% 638 -5% 668\nOther Tobacco Products (bn stick equivalents) 18 -9% 20 -2% 21\nVapour (mn 10ml units/pods) 535 +56% 344 +52% 226\nTHP (bn sticks) 19 +79% 11 +19% 9\nModern Oral (mn pouches) 3,296 +70% 1,934 +62% 1,194\nTraditional Oral (bn stick equivalents) 8 -4% 8 -1% 8\nFinancial\nRevenue (£m) 25,684 -0.4% 25,776 -0.4% 25,877 •\nAdjusted Revenue at cc (%)1,2 3-5% CAGR +6.9% +3.3% • •\nRevenue from New Categories (£m) £5 billion by 2025 2,054 +42.4% 1,443 +14.9% 1,255 •\nRevenue from New Categories at cc (%)1 +50.9% +15.4% • •\nProfit from Operations (£m) 10,234 +2.7% 9,962 +10.5% 9,016 •\nAdjusted Profit from Operations at cc (%)1, 2 Increase 4.0% to 6.5% (2021) +5.2% +4.8% • •\nOperating Margin (%) 39.8% 38.6% 34.8% •\nAdjusted Operating Margin (%)2 43.4% 44.1% 43.1% •\nDiluted Earnings per Share (p) 295.6 +6.0% 278.9 +12.0% 249.0 •\nAdjusted Diluted Earnings per Share (p)2 @5-10% CAGR@ 329.0 -0.8% 331.7 +2.4% 323.8 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 @5-10% CAGR@ +6.6% +5.5% • •\nDividends per Share (p) 217.8 +1.0% 215.6 +2.5% 210.4\nDividend Pay-Out Ratio (%) @65% of long-term earnings@ 66% 65% 65%\nNet Cash Generated from Operating Activities (£m) 9,717 -0.7% 9,786 +8.8% 8,996 •\n@Free Cash Flow after Dividends (£m) 2,543 -0.3% 2,550 +32.7% 1,921 •\nCash Conversion (%) 95% 98% 100% •\n@Operating Cash Conversion (%) 85-95% each year on average 104% 103% 97% • •\nBorrowings, including Lease Liabilities (£m) 39,658 -9.8% 43,968 -3.1% 45,366 •\n@Adjusted Net Debt to Adjusted EBITDA (ratio)2 Around 3.0x by year end 2021 3.0x 3.3x 3.5x • •\n@Adjusted Return on Capital Employed (%)2 9% 10% 9%\nTotal Shareholder Return (rank) 17 of 24 20 of 23 21 of 23 •\nESG\nFind our key ESG goals, targets and metrics\nin our ESG Roadmap on page 47.\nO",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000009_segments",
      "report_id": "ID_000009",
      "company_name": "BAT",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "non-combustibles, oral, combustibles\n\nIt is ok if the model also provides the regions as an answer, but the regions are not sufficient for a complete answer.",
      "golden_context": "Page 13:\n\nOur performance metrics Target/Ambition 2021 % 2020 % 2019\nIFRS-GAAP\nKPI\nNon-GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 50 million consumers by 2030 18.3m 13.5m 10.5m\nMarket Share\nCigarette and THP volume share growth (bps) Grow by 0-10 bps (2021) +10 bps +30 bps +20 bps •\nCigarette and THP value share growth (bps) +20 bps +20 bps +30 bps\nVolume\nCigarettes (bn sticks) 637 0% 638 -5% 668\nOther Tobacco Products (bn stick equivalents) 18 -9% 20 -2% 21\nVapour (mn 10ml units/pods) 535 +56% 344 +52% 226\nTHP (bn sticks) 19 +79% 11 +19% 9\nModern Oral (mn pouches) 3,296 +70% 1,934 +62% 1,194\nTraditional Oral (bn stick equivalents) 8 -4% 8 -1% 8\nFinancial\nRevenue (£m) 25,684 -0.4% 25,776 -0.4% 25,877 •\nAdjusted Revenue at cc (%)1,2 3-5% CAGR +6.9% +3.3% • •\nRevenue from New Categories (£m) £5 billion by 2025 2,054 +42.4% 1,443 +14.9% 1,255 •\nRevenue from New Categories at cc (%)1 +50.9% +15.4% • •\nProfit from Operations (£m) 10,234 +2.7% 9,962 +10.5% 9,016 •\nAdjusted Profit from Operations at cc (%)1, 2 Increase 4.0% to 6.5% (2021) +5.2% +4.8% • •\nOperating Margin (%) 39.8% 38.6% 34.8% •\nAdjusted Operating Margin (%)2 43.4% 44.1% 43.1% •\nDiluted Earnings per Share (p) 295.6 +6.0% 278.9 +12.0% 249.0 •\nAdjusted Diluted Earnings per Share (p)2 @5-10% CAGR@ 329.0 -0.8% 331.7 +2.4% 323.8 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 @5-10% CAGR@ +6.6% +5.5% • •\nDividends per Share (p) 217.8 +1.0% 215.6 +2.5% 210.4\nDividend Pay-Out Ratio (%) @65% of long-term earnings@ 66% 65% 65%\nNet Cash Generated from Operating Activities (£m) 9,717 -0.7% 9,786 +8.8% 8,996 •\n@Free Cash Flow after Dividends (£m) 2,543 -0.3% 2,550 +32.7% 1,921 •\nCash Conversion (%) 95% 98% 100% •\n@Operating Cash Conversion (%) 85-95% each year on average 104% 103% 97% • •\nBorrowings, including Lease Liabilities (£m) 39,658 -9.8% 43,968 -3.1% 45,366 •\n@Adjusted Net Debt to Adjusted EBITDA (ratio)2 Around 3.0x by year end 2021 3.0x 3.3x 3.5x • •\n@Adjusted Return on Capital Employed (%)2 9% 10% 9%\nTotal Shareholder Return (rank) 17 of 24 20 of 23 21 of 23 •\nESG\nFind our key ESG goals, targets and metrics\nin our ESG Roadmap on page 47.\nO\"\n\nPage 194 for regions:\n\nAdjusted\nRevenue\nConstant\nrates\n£m\nTranslation\nexchange\n£m\nAdjusted\nRevenue\nCurrent\nrates\n£m\nAdjusting\nitems\nCurrent\nrates\n£m\nRevenue\nCurrent\nrates\n£m\nAdjusted\nRevenue\n£m\nAdjusting\nitems\n£m\nRevenue\n£m\nU.S. 12,530 (839) 11,691 – 11,691 11,473 – 11,473\nAPME 4,535 (344) 4,191 – 4,191 4,537 – 4,537\nAMSSA 4,067 (266) 3,801 – 3,801 3,772 – 3,772\nENA 6,429 (428) 6,001 – 6,001 5,994 – 5,994\nRevenue 27,561 (1,877) 25,684 – 25,684 25,776 – 25,776",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_cash_flow",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "10bn operating cash flow",
      "golden_context": "Page 11: \n\nOur Performance Metrics 2022 % 2021 % 2020\nFRS GAAP I\nKPI\nNON GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 22.5m 18.3m 13.5m\nMarket Share\nCigarette and THP volume share growth (bps) -10 bps +10 bps +30 bps •\nCigarette and THP value share growth (bps) flat +20 bps +20 bps\nVolume\nVapour (mn 10ml units/pods) 612 +14 % 535 +56 % 344\nTHP (bn sticks) 24 +26 % 19 +79 % 11\nModern Oral (mn pouches) 4,010 +22 % 3,296 +70 % 1,934\nTraditional Oral (bn stick equivalents) 7 -8 % 8 -4 % 8\nCigarettes (bn sticks) 605 -5 % 637 0 % 638\nOther Tobacco Products (bn stick equivalents) 16 -10 % 18 -9 % 20\nFinancial\nRevenue (£m) 27,655 +7.7 % 25,684 -0.4 % 25,776 •\nRevenue at cc (%)1, 2 +2.3 % +6.9 % • •\nRevenue from New Categories (£m) 2,894 +40.9 % 2,054 +42.4 % 1,443 •\nRevenue from New Categories at cc (%)1\n +37.0 % +50.9 % • •\nProfit from Operations (£m) 10,523 +2.8 % 10,234 +2.7 % 9,962 •\nAdjusted Profit from Operations at cc (%)1, 2 +4.3 % +5.2 % • •\nOperating Margin (%) 38.1% 39.8% 38.6% •\nAdjusted Operating Margin (%)2\n44.9% 43.4% 44.1% •\nDiluted Earnings per Share (p) 291.9 -1.3 % 295.6 +6.0 % 278.9 •\nAdjusted Diluted Earnings per Share (p)2\n371.4 +12.9 % 329.0 -0.8 % 331.7 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 +5.8 % +6.6 % • •\nDividends per Share (p) 230.9 +6.0 % 217.8 +1.0 % 215.6\nDividend Pay-Out Ratio (%) 62% 66% 65%\nNet Cash Generated from Operating Activities (£m) 10,394 +7.0 % 9,717 -0.7 % 9,786 •\n@\nFree Cash Flow after Dividends (£m) 3,134 +23.2 % 2,543 -0.3 % 2,550 •\nCash Conversion (%) 99% 95% 98% •\n@Operating Cash Conversion (%) 100% 104% 103% • •\nBorrowings, including Lease Liabilities (£m) 43,139 +8.8 % 39,658 -9.8 % 43,968 •\n@\nAdjusted Net Debt to Adjusted EBITDA (ratio)2 2.9x 3.0x 3.3x • •\n@\nAdjusted Return on Capital Employed (%)2\n10% 9% 10%\nTotal Shareholder Return (rank) 4 of 24 17 of 24 20 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_company_type",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc\n\nThis is not explicitly mentioned in the context. An answer that states that this information cannot be infered from the context is thus correct. An answer correctly identifying the legal form (plc) is also ok.",
      "golden_context": "Not explicitly mentioned in the context.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_key_financials",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "28bn revenue GBP, Revenue from operations 10523m GBP, Operating margin 38.1%, dividends per share 230.9 pence, net cash generated from operating activities 10394m GBP, adjusted return on capital employed 10%. ",
      "golden_context": "Page 11: \n\nOur Performance Metrics 2022 % 2021 % 2020\nFRS GAAP I\nKPI\nNON GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 22.5m 18.3m 13.5m\nMarket Share\nCigarette and THP volume share growth (bps) -10 bps +10 bps +30 bps •\nCigarette and THP value share growth (bps) flat +20 bps +20 bps\nVolume\nVapour (mn 10ml units/pods) 612 +14 % 535 +56 % 344\nTHP (bn sticks) 24 +26 % 19 +79 % 11\nModern Oral (mn pouches) 4,010 +22 % 3,296 +70 % 1,934\nTraditional Oral (bn stick equivalents) 7 -8 % 8 -4 % 8\nCigarettes (bn sticks) 605 -5 % 637 0 % 638\nOther Tobacco Products (bn stick equivalents) 16 -10 % 18 -9 % 20\nFinancial\nRevenue (£m) 27,655 +7.7 % 25,684 -0.4 % 25,776 •\nRevenue at cc (%)1, 2 +2.3 % +6.9 % • •\nRevenue from New Categories (£m) 2,894 +40.9 % 2,054 +42.4 % 1,443 •\nRevenue from New Categories at cc (%)1\n +37.0 % +50.9 % • •\nProfit from Operations (£m) 10,523 +2.8 % 10,234 +2.7 % 9,962 •\nAdjusted Profit from Operations at cc (%)1, 2 +4.3 % +5.2 % • •\nOperating Margin (%) 38.1% 39.8% 38.6% •\nAdjusted Operating Margin (%)2\n44.9% 43.4% 44.1% •\nDiluted Earnings per Share (p) 291.9 -1.3 % 295.6 +6.0 % 278.9 •\nAdjusted Diluted Earnings per Share (p)2\n371.4 +12.9 % 329.0 -0.8 % 331.7 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 +5.8 % +6.6 % • •\nDividends per Share (p) 230.9 +6.0 % 217.8 +1.0 % 215.6\nDividend Pay-Out Ratio (%) 62% 66% 65%\nNet Cash Generated from Operating Activities (£m) 10,394 +7.0 % 9,717 -0.7 % 9,786 •\n@\nFree Cash Flow after Dividends (£m) 3,134 +23.2 % 2,543 -0.3 % 2,550 •\nCash Conversion (%) 99% 95% 98% •\n@Operating Cash Conversion (%) 100% 104% 103% • •\nBorrowings, including Lease Liabilities (£m) 43,139 +8.8 % 39,658 -9.8 % 43,968 •\n@\nAdjusted Net Debt to Adjusted EBITDA (ratio)2 2.9x 3.0x 3.3x • •\n@\nAdjusted Return on Capital Employed (%)2\n10% 9% 10%\nTotal Shareholder Return (rank) 4 of 24 17 of 24 20 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_revenue",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "28bn rev",
      "golden_context": "Page 11: \n\nOur Performance Metrics 2022 % 2021 % 2020\nFRS GAAP I\nKPI\nNON GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 22.5m 18.3m 13.5m\nMarket Share\nCigarette and THP volume share growth (bps) -10 bps +10 bps +30 bps •\nCigarette and THP value share growth (bps) flat +20 bps +20 bps\nVolume\nVapour (mn 10ml units/pods) 612 +14 % 535 +56 % 344\nTHP (bn sticks) 24 +26 % 19 +79 % 11\nModern Oral (mn pouches) 4,010 +22 % 3,296 +70 % 1,934\nTraditional Oral (bn stick equivalents) 7 -8 % 8 -4 % 8\nCigarettes (bn sticks) 605 -5 % 637 0 % 638\nOther Tobacco Products (bn stick equivalents) 16 -10 % 18 -9 % 20\nFinancial\nRevenue (£m) 27,655 +7.7 % 25,684 -0.4 % 25,776 •\nRevenue at cc (%)1, 2 +2.3 % +6.9 % • •\nRevenue from New Categories (£m) 2,894 +40.9 % 2,054 +42.4 % 1,443 •\nRevenue from New Categories at cc (%)1\n +37.0 % +50.9 % • •\nProfit from Operations (£m) 10,523 +2.8 % 10,234 +2.7 % 9,962 •\nAdjusted Profit from Operations at cc (%)1, 2 +4.3 % +5.2 % • •\nOperating Margin (%) 38.1% 39.8% 38.6% •\nAdjusted Operating Margin (%)2\n44.9% 43.4% 44.1% •\nDiluted Earnings per Share (p) 291.9 -1.3 % 295.6 +6.0 % 278.9 •\nAdjusted Diluted Earnings per Share (p)2\n371.4 +12.9 % 329.0 -0.8 % 331.7 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 +5.8 % +6.6 % • •\nDividends per Share (p) 230.9 +6.0 % 217.8 +1.0 % 215.6\nDividend Pay-Out Ratio (%) 62% 66% 65%\nNet Cash Generated from Operating Activities (£m) 10,394 +7.0 % 9,717 -0.7 % 9,786 •\n@\nFree Cash Flow after Dividends (£m) 3,134 +23.2 % 2,543 -0.3 % 2,550 •\nCash Conversion (%) 99% 95% 98% •\n@Operating Cash Conversion (%) 100% 104% 103% • •\nBorrowings, including Lease Liabilities (£m) 43,139 +8.8 % 39,658 -9.8 % 43,968 •\n@\nAdjusted Net Debt to Adjusted EBITDA (ratio)2 2.9x 3.0x 3.3x • •\n@\nAdjusted Return on Capital Employed (%)2\n10% 9% 10%\nTotal Shareholder Return (rank) 4 of 24 17 of 24 20 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_revenue_growth",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "28bn rev, 26bn previous year",
      "golden_context": "Page 11: \n\nOur Performance Metrics 2022 % 2021 % 2020\nFRS GAAP I\nKPI\nNON GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 22.5m 18.3m 13.5m\nMarket Share\nCigarette and THP volume share growth (bps) -10 bps +10 bps +30 bps •\nCigarette and THP value share growth (bps) flat +20 bps +20 bps\nVolume\nVapour (mn 10ml units/pods) 612 +14 % 535 +56 % 344\nTHP (bn sticks) 24 +26 % 19 +79 % 11\nModern Oral (mn pouches) 4,010 +22 % 3,296 +70 % 1,934\nTraditional Oral (bn stick equivalents) 7 -8 % 8 -4 % 8\nCigarettes (bn sticks) 605 -5 % 637 0 % 638\nOther Tobacco Products (bn stick equivalents) 16 -10 % 18 -9 % 20\nFinancial\nRevenue (£m) 27,655 +7.7 % 25,684 -0.4 % 25,776 •\nRevenue at cc (%)1, 2 +2.3 % +6.9 % • •\nRevenue from New Categories (£m) 2,894 +40.9 % 2,054 +42.4 % 1,443 •\nRevenue from New Categories at cc (%)1\n +37.0 % +50.9 % • •\nProfit from Operations (£m) 10,523 +2.8 % 10,234 +2.7 % 9,962 •\nAdjusted Profit from Operations at cc (%)1, 2 +4.3 % +5.2 % • •\nOperating Margin (%) 38.1% 39.8% 38.6% •\nAdjusted Operating Margin (%)2\n44.9% 43.4% 44.1% •\nDiluted Earnings per Share (p) 291.9 -1.3 % 295.6 +6.0 % 278.9 •\nAdjusted Diluted Earnings per Share (p)2\n371.4 +12.9 % 329.0 -0.8 % 331.7 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 +5.8 % +6.6 % • •\nDividends per Share (p) 230.9 +6.0 % 217.8 +1.0 % 215.6\nDividend Pay-Out Ratio (%) 62% 66% 65%\nNet Cash Generated from Operating Activities (£m) 10,394 +7.0 % 9,717 -0.7 % 9,786 •\n@\nFree Cash Flow after Dividends (£m) 3,134 +23.2 % 2,543 -0.3 % 2,550 •\nCash Conversion (%) 99% 95% 98% •\n@Operating Cash Conversion (%) 100% 104% 103% • •\nBorrowings, including Lease Liabilities (£m) 43,139 +8.8 % 39,658 -9.8 % 43,968 •\n@\nAdjusted Net Debt to Adjusted EBITDA (ratio)2 2.9x 3.0x 3.3x • •\n@\nAdjusted Return on Capital Employed (%)2\n10% 9% 10%\nTotal Shareholder Return (rank) 4 of 24 17 of 24 20 of 23 •",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000010_segments",
      "report_id": "ID_000010",
      "company_name": "BAT",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "non-combustibles, oral, combustibles",
      "golden_context": "Page 11: \n\nOur Performance Metrics 2022 % 2021 % 2020\nFRS GAAP I\nKPI\nNON GAAP\nConsumer\nNumber of Non-Combustible\nProduct Consumers 22.5m 18.3m 13.5m\nMarket Share\nCigarette and THP volume share growth (bps) -10 bps +10 bps +30 bps •\nCigarette and THP value share growth (bps) flat +20 bps +20 bps\nVolume\nVapour (mn 10ml units/pods) 612 +14 % 535 +56 % 344\nTHP (bn sticks) 24 +26 % 19 +79 % 11\nModern Oral (mn pouches) 4,010 +22 % 3,296 +70 % 1,934\nTraditional Oral (bn stick equivalents) 7 -8 % 8 -4 % 8\nCigarettes (bn sticks) 605 -5 % 637 0 % 638\nOther Tobacco Products (bn stick equivalents) 16 -10 % 18 -9 % 20\nFinancial\nRevenue (£m) 27,655 +7.7 % 25,684 -0.4 % 25,776 •\nRevenue at cc (%)1, 2 +2.3 % +6.9 % • •\nRevenue from New Categories (£m) 2,894 +40.9 % 2,054 +42.4 % 1,443 •\nRevenue from New Categories at cc (%)1\n +37.0 % +50.9 % • •\nProfit from Operations (£m) 10,523 +2.8 % 10,234 +2.7 % 9,962 •\nAdjusted Profit from Operations at cc (%)1, 2 +4.3 % +5.2 % • •\nOperating Margin (%) 38.1% 39.8% 38.6% •\nAdjusted Operating Margin (%)2\n44.9% 43.4% 44.1% •\nDiluted Earnings per Share (p) 291.9 -1.3 % 295.6 +6.0 % 278.9 •\nAdjusted Diluted Earnings per Share (p)2\n371.4 +12.9 % 329.0 -0.8 % 331.7 • •\nAdjusted Diluted Earnings per Share at cc (%)1, 2 +5.8 % +6.6 % • •\nDividends per Share (p) 230.9 +6.0 % 217.8 +1.0 % 215.6\nDividend Pay-Out Ratio (%) 62% 66% 65%\nNet Cash Generated from Operating Activities (£m) 10,394 +7.0 % 9,717 -0.7 % 9,786 •\n@\nFree Cash Flow after Dividends (£m) 3,134 +23.2 % 2,543 -0.3 % 2,550 •\nCash Conversion (%) 99% 95% 98% •\n@Operating Cash Conversion (%) 100% 104% 103% • •\nBorrowings, including Lease Liabilities (£m) 43,139 +8.8 % 39,658 -9.8 % 43,968 •\n@\nAdjusted Net Debt to Adjusted EBITDA (ratio)2 2.9x 3.0x 3.3x • •\n@\nAdjusted Return on Capital Employed (%)2\n10% 9% 10%\nTotal Shareholder Return (rank) 4 of 24 17 of 24 20 of 23 •\n\nPage 18:\n\nNew Categories £2,894m 10.4%\nTraditional Oral £1,209m 4.4%\nCombustibles £23,030m 83.3%\nOther £522m 1.9%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_cash_flow",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "2.4bn free cash flow",
      "golden_context": "Page 8:\n\nFree cash flow generated in FY23\n£2.4bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_company_type",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 2:\n\nIMPERIAL BRANDS PLC\nFINANCIALS\nImperial Brands PLC\nBalance Sheet\n247\nImperial Brands PLC Statement of\nChanges in Equity\n247\nNotes to the Financial Statements\nof Imperial Brands PLC\n248\nSHAREHOLDER\nINFORMATION\nShareholder Information 263",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_key_financials",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Tobacco & NGP net rev: 8bn GBP, \n\n2.4bn GBP free cash flow, \n\n3.9% profit growth, \n\n146.82 pence dividend per share, \n\nNGP net revenue 265m GBP",
      "golden_context": "Page 5:\n\nAggregate market share of our five\npriority combustible markets\n+10bps\n(2022: +35bps)\nNGP net revenue growth at\nconstant currency\n+26.4%\n(2022: +10.8%)\nFY24 share repurchase announced\n£1.1bn\n(2023: £1.0bn)\n\n\nTobacco & NGP net revenue\n(£ billion)\n£8.0bn\n2022: £7.7bn*\nDividend per share (pence)\n146.82p\n2022: 141.17p\n\nPage 8:\n\nThe business is highly cash generative\nwith low capital intensity, a working\ncapital focus and disciplined capital\nexpenditure producing adjusted\noperating cash conversion of typically\n90% to 100%.\nFree cash flow generated in FY23\n£2.4bn\n\nPage 86:\n\nTobacco volume\n -8.2%\nTobacco & NGP net revenue*\n +4.8%\nTobacco net revenue*\n +2.8%\nNGP net revenue*\n +40.4%\nAdjusted operating profit*\n +2.0%\n* Change at constant currenc",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_revenue",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "8bn (tobacco & NGP net rev)",
      "golden_context": "Page 5:\n\nTobacco & NGP net revenue\n(£ billion)\n£8.0bn\n2022: £7.7bn*",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_revenue_growth",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8bn, 7.7bn (in 2022)",
      "golden_context": "Page 5:\n\nTobacco & NGP net revenue\n(£ billion)\n£8.0bn\n2022: £7.7bn*",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000011_segments",
      "report_id": "ID_000011",
      "company_name": "Imperial Brands",
      "year": 2023,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Tobacco & NGP is one segment.\nDistribution is another segment.\n\nIt is enough if Tobacco, NGP, and Distribution are mentioned. But it is important that Distribution is mentioned.\n",
      "golden_context": "Page 192:\n\n3. SEGMENT INFORMATION\nImperial Brands comprises two distinct businesses – Tobacco & NGP and Distribution. The Tobacco & NGP business comprises the\nmanufacture, marketing and sale of Tobacco & NGP and Tobacco & NGP-related products, including sales to (but not by) the Distribution\nbusiness. The Distribution business comprises the distribution of Tobacco & NGP products for Tobacco & NGP product manufacturers,\nincluding Imperial Brands, as well as a wide range of non-Tobacco & NGP products and services. The Distribution business is run on an\noperationally neutral basis ensuring all customers are treated equally, and consequently transactions between the Tobacco & NGP and\nDistribution businesses are undertaken on an arm’s length basis reflecting market prices for comparable goods and services.\nOn 1 October 2022 the Group reorganised the structure of the Europe and AAA regions. The Central and Eastern Europe cluster, which\nincludes operations in Poland, Czech Republic, Ukraine, Slovakia, Hungary, Azerbaijan, Armenia, Georgia and Slovenia, moved from the\nEurope region to the AAA region. The AAA region has been re-named AAACE. The managerial and internal reporting structures of the\nregions have been revised to reflect the new structure. Following the introduction of these changes we have revised our segmental\nreporting as required under IFRS 8. The comparative figures below have been restated accordingly\nThe function of the Chief Operating Decision Maker (defined in IFRS 8), which is to review performance and allocate resources, is performed\nby the Board and the Chief Executive, who are regularly provided with information on the Group's segments. This information is used as the\nbasis of the segment revenue and profit disclosures provided below. The main profit measure used by the Board and the Chief Executive is\nadjusted operating profit. Segment balance sheet information is not provided to the Board or the Chief Executive.\nThe Group's reportable segments are Europe, Americas, Africa, Asia, Australasia and Central and Eastern Europe (AAACE) and Distribution.\nOperating segments are comprised of geographical groupings of business markets. The main Tobacco & NGP business markets within the\nEurope, Americas and AAACE reportable segments are:\nEurope – United Kingdom, Germany, Spain, France, Italy, Greece, Sweden, Norway, Belgium and the Netherlands.\nAmericas – United States.\nAAACE – Australia, Japan, Saudi Arabia, Taiwan, Poland, Czech Republic, Ukraine, Slovakia, Hungary, Slovenia and our African markets\nincluding Algeria and Morocco. ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_cash_flow",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "2.6bn free cash flow",
      "golden_context": "Page 9:\n\nrecurrence of gains on disposal of the\nPremium Cigar Division. Strong cash\nperformance delivered almost\n£2.6 billion of free cash flow, which\nhas further strengthened the balance\nsheet, and enabled us to step up\nreturns to shareholders.\nThese achievements have been\ndelivered against a backdrop of\ninflationary pressures and a squeeze\non consumer purchasing power.\nAs expected, our tobacco price mix\nstrengthened in the second half to\n10.7%, bringing overall price mix up\nto 6.0% for the year.\nWe are a more resilient",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_company_type",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 2:\n\nFINANCIALS\nImperial Brands PLC\nBalance Sheet 230\nImperial Brands PLC Statement\nof Changes in Equity 230\nNotes to the Financial Statements\nof Imperial Brands PLC 231\nSHAREHOLDER\nINFORMATION\nShareholder ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_key_financials",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "7.8bn (tobacco & NGP net rev), 2.6bn free cash flow, operating profit -5.2% (1562m), 265.2 adjusted EPS (in pence), 141.17 pence dividence per share, 10.8% NGP net revenue growth",
      "golden_context": "Page 4:\n\nOUR FINANCIAL\nPERFORMANCE\nTobacco &\nNGP net revenue\n£7.8 bn\n+1.5%*\nAdjusted EPS\n265.2p\n+4.9%*\nReported EPS\n165.9p\n-44.7%\nDividend per share\n141.17p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_revenue",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "7.8bn (tobacco & NGP net rev)",
      "golden_context": "Page 4:\n\nOUR FINANCIAL\nPERFORMANCE\nTobacco &\nNGP net revenue\n£7.8 bn\n+1.5%*\nAdjusted EPS\n265.2p\n+4.9%*\nReported EPS\n165.9p\n-44.7%\nDividend per share\n141.17p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_revenue_growth",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "7.8bn (tobacco & NGP net rev), increase of 1.5%",
      "golden_context": "Page 4:\n\nOUR FINANCIAL\nPERFORMANCE\nTobacco &\nNGP net revenue\n£7.8 bn\n+1.5%*\nAdjusted EPS\n265.2p\n+4.9%*\nReported EPS\n165.9p\n-44.7%\nDividend per share\n141.17p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000012_segments",
      "report_id": "ID_000012",
      "company_name": "Imperial Brands",
      "year": 2022,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Tobacco & NGP is one segment, Distribution another\nPremium & Value (see page 71)\n\nIt is enough if Tobacco, NGP, and Distribution are mentioned. But it is important that Distribution is mentioned.\n",
      "golden_context": "Page 226:\n\nB) Distribution net revenue\nDistribution net revenue comprises the Distribution segment revenue less the cost of distributed products. Management considers\nthis an important measure in assessing the performance of Distribution operations.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_cash_flow",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "1.5bn free cash flow",
      "golden_context": "Page 22:\n\nOur results reflect the actions taken\nto focus our investment tightly behind\nour priority markets and to drive a\nmore rigorous approach to managing\nperformance in tobacco and NGP. In\ntobacco, we have begun to stabilise\nthe long-term aggregate market share\ndeclines in our five priority markets\nthrough a greater focus on performance\nmanagement, brand refreshes and\nenhancing our sales footprint in select\nareas. On a constant currency basis,\nGroup net revenues grew 1.4 per cent\nyear-on-year reflecting continued\nstrong pricing dynamics. Reported\nrevenue grew 0.7 per cent at actual\nexchange rates. As anticipated, we grew\nour Group adjusted operating profit by\n4.8 per cent in the year on a constant\ncurrency basis driven by a reduction in\nour NGP losses and higher Distribution\nprofit from Logista. Reported operating\nprofit grew 15.2 per cent at actual\nexchange rates. We delivered solid\ncash flow performance, generating\n£1.5 billion of free cash flow.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_company_type",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 2:\n\nOVERVIEW\nAt a Glance 2\nOur Value Creation Framework 4\nChair’s Statement 14\nChief Executive’s Statement 18\nBusiness Model 24\nInvestment Case 26\nOur Operating Environment 28\nStrategy for Success 30\nPERFORMANCE\nKey Performance Indicators 36\nStakeholder Engagement 38\nOur People 46\nESG Review 50\nOperating Review 64\nFinancial Review 71\nPrincipal Risks and Uncertainties 80\nGOVERNANCE\nChair’s Introduction 94\nBoard Leadership 96\nBoard Engagement 102\nThe Board and its Committees 104\nBoard Statements 106\nSuccession and Nominations\nCommittee 108\nAudit Committee 111\nRemuneration Report 120\nDirectors’ Report 140\nFINANCIALS\nIndependent Auditors’ Report 148\nConsolidated Income Statement 160\nConsolidated Statement\nof Comprehensive Income 160\nConsolidated Balance Sheet 161\nConsolidated Statement of Changes\nin Equity 162\nConsolidated Cash Flow Statement 163\nNotes to the Financial Statements 164\nImperial Brands PLC Balance Sheet 220\nImperial Brands PLC Statement\nof Changes in Equity 220\nNotes to the Financial Statements\nof Imperial Brands PLC 221\nSUPPLEMENTARY\nINFORMATION\nRelated Undertakings 225\nShareholder Information 235",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_key_financials",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "7.6bn, EPS 246.5p, 83% cash conversion rate, 1.5bn free cash flow, adjusted earnings per share in pence: 246.5, 139.1 pence dividend per share, 16.5% return on invested capital",
      "golden_context": "Page 38:\n\nThese key performance indicators are used to assess the progress we are\nmaking in delivering our strategy. We revised the KPIs this year to align\nwith our new strategy and our remuneration incentives.\nAGGREGATE PRIORITY MARKET\nSHARE VS PRIOR YEAR (%)\nTOBACCO & NGP ADJUSTED\nOPERATING MARGIN (%)\nTOBACCO & NGP NET REVENUE\n(£BN)\nDIVIDEND PER SHARE (PENCE)\nADJUSTED EARNINGS PER SHARE\n(PENCE)\nRETURN ON INVESTED CAPITAL\n(%)\nPerformance\nOur strategic focus and rigorous\nperformance management has begun\nto arrest the aggregate weighted market\nvolume share performances in our priority\nmarkets, following several years of decline.\nGains in the USA, UK and Spain were offset\nby declines in Australia and Germany.\nDefinition\nAggregate weighted market volume\nshare,based on our five priority markets\n(USA, Germany, UK, Spain and Australia).\nMarket volume share is calculated based\non a 12-month moving annual total (MAT)\nvolume share position from September to\nAugust. The market volume size used in the\nweighting calculation is based on a constant\nprior year end actual market size.\nPerformance\nMargins improved primarily due to lower\nNGP write-downs and losses.\nDefinition\nTobacco & NGP operating margin is adjusted\noperating profit divided by tobacco & NGP\nnet revenue expressed as a percentage.\nPerformance\nTobacco & NGP net revenue declined\n4.7 per cent at actual exchange rates.\nExcluding the Premium Cigar Division,\nTobacco & NGP net revenue declined\n1.9 per cent at actual exchange rates but\ngrew 1.4 per cent on a constant currency\nbasis. Tobacco net revenue increased\nby 1.5 per cent excluding the Premium\nCigar Division disposal and NGP\nrevenue was down by 3.9 per cent\nboth at constant currency.\nDefinition\nTobacco & NGP net revenue comprises\ntobacco and NGP revenue less duty and\nsimilar items, excluding peripheral products.\nPerformance\nThe dividend grew 1.0 per cent reflecting\nour progressive dividend policy. This follows\nthe Board’s decision in May 2020 to rebase\nthe dividend by one-third to accelerate\ndebt repayment.\nDefinition\nDividend per share represents the total\nannual dividends, being the sum of the\npaid interim dividend and the proposed\nfinal dividend for the financial year.\nPerformance\nAdjusted earnings per share was up\n2.8 per cent on an organic constant\ncurrency basis, excluding a currency\nheadwind of 3.1 per cent. Reported\nearnings per share was up 89.5 per cent.\nThis is explained in the Financial Review.\nDefinition\nAdjusted earnings per share represents\nadjusted profit after tax attributable to the\nequity holders of the Company divided by\nthe weighted average number of shares in\nissue during the period, excluding shares\nheld to satisfy employee share plans and\nshares purchased by the Company and held\nas treasury shares.\nPerformance\nReturn on invested capital improved in\nthe year driven by a reduction in invested\ncapital as a result of the disposal of the\nPremium Cigar Division.\nDefinition\nReturn on invested capital measures the\neffectiveness of capital allocation and is\ncalculated by dividing adjusted operating\nprofit after tax by the annual avera\n\nPage 73:\n\nSUMMARY FINANCIAL INFORMATION\nORGANIC VOLUMES\n2.9%\nled by organic declines\nin market size, offset\nby market share gains\nREPORTED OPERATING\nPROFIT\n15.2%\ndriven by disposal of the\nPremium Cigar Division\nREPORTED BASIC\nEPS\n299.9p\nan increase of 89.5%\nORGANIC ADJUSTED\nEPS\n246.5p\nan increase of 2.8% on\na constant currency basis\nCASH CONVERSION\n83%\n2020: 127%\nADJUSTED NET DEBT/\nEBITDA\n2.2x\n2020: 2.7x",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_revenue",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "7.6bn",
      "golden_context": "Page 38:\n\nAGGREGATE PRIORITY MARKET\nSHARE VS PRIOR YEAR (%)\nTOBACCO & NGP ADJUSTED\nOPERATING MARGIN (%)\nTOBACCO & NGP NET REVENUE\n(£BN)\nDIVIDEND PER SHARE (PENCE)\nADJUSTED EARNINGS PER SHARE\n(PENCE)\nRETURN ON INVESTED CAPITAL\n(%)\nPerformance\nOur strategic focus and rigorous\nperformance management has begun\nto arrest the aggregate weighted market\nvolume share performances in our priority\nmarkets, following several years of decline.\nGains in the USA, UK and Spain were offset\nby declines in Australia and Germany.\nDefinition\nAggregate weighted market volume\nshare,based on our five priority markets\n(USA, Germany, UK, Spain and Australia).\nMarket volume share is calculated based\non a 12-month moving annual total (MAT)\nvolume share position from September to\nAugust. The market volume size used in the\nweighting calculation is based on a constant\nprior year end actual market size.\nPerformance\nMargins improved primarily due to lower\nNGP write-downs and losses.\nDefinition\nTobacco & NGP operating margin is adjusted\noperating profit divided by tobacco & NGP\nnet revenue expressed as a percentage.\nPerformance\nTobacco & NGP net revenue declined\n4.7 per cent at actual exchange rates.\nExcluding the Premium Cigar Division,\nTobacco & NGP net revenue declined\n1.9 per cent at actual exchange rates but\ngrew 1.4 per cent on a constant currency\nbasis. Tobacco net revenue increased\nby 1.5 per cent excluding the Premium\nCigar Division disposal and NGP\nrevenue was down by 3.9 per cent\nboth at constant currency.\nDefinition\nTobacco & NGP net revenue comprises\ntobacco and NGP revenue less duty and\nsimilar items, excluding peripheral products.\nPerformance\nThe dividend grew 1.0 per cent reflecting\nour progressive dividend policy. This follows\nthe Board’s decision in May 2020 to rebase\nthe dividend by one-third to accelerate\ndebt repayment.\nDefinition\nDividend per share represents the total\nannual dividends, being the sum of the\npaid interim dividend and the proposed\nfinal dividend for the financial year.\nPerformance\nAdjusted earnings per share was up\n2.8 per cent on an organic constant\ncurrency basis, excluding a currency\nheadwind of 3.1 per cent. Reported\nearnings per share was up 89.5 per cent.\nThis is explained in the Financial Review.\nDefinition\nAdjusted earnings per share represents\nadjusted profit after tax attributable to the\nequity holders of the Company divided by\nthe weighted average number of shares in\nissue during the period, excluding shares\nheld to satisfy employee share plans and\nshares purchased by the Company and held\nas treasury shares.\nPerformance\nReturn on invested capital improved in\nthe year driven by a reduction in invested\ncapital as a result of the disposal of the\nPremium Cigar Division.\nDefinition\nReturn on invested capital measures the\neffectiveness of capital allocation and is\ncalculated by dividing adjusted operating\nprofit after tax by the annual average\nof: intangible assets, property, plant\nand equipment, net assets held for sale,\ninventories, trade and other receivables\nand trade payables and other current\nliabilities. The annual average is defined\nas the average of the opening and closing\nbalance sheet values.\n-2bps\n-17bps\n-22bps\n21\n20\n19\n41.2%*\n44.1%\n21 43.5%\n20\n19\n£7.6bn\n£8.0bn*\n£8.0bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_revenue_growth",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "7.6bn, in previous year 8.0bn",
      "golden_context": "Page 38:\n\nAGGREGATE PRIORITY MARKET\nSHARE VS PRIOR YEAR (%)\nTOBACCO & NGP ADJUSTED\nOPERATING MARGIN (%)\nTOBACCO & NGP NET REVENUE\n(£BN)\nDIVIDEND PER SHARE (PENCE)\nADJUSTED EARNINGS PER SHARE\n(PENCE)\nRETURN ON INVESTED CAPITAL\n(%)\nPerformance\nOur strategic focus and rigorous\nperformance management has begun\nto arrest the aggregate weighted market\nvolume share performances in our priority\nmarkets, following several years of decline.\nGains in the USA, UK and Spain were offset\nby declines in Australia and Germany.\nDefinition\nAggregate weighted market volume\nshare,based on our five priority markets\n(USA, Germany, UK, Spain and Australia).\nMarket volume share is calculated based\non a 12-month moving annual total (MAT)\nvolume share position from September to\nAugust. The market volume size used in the\nweighting calculation is based on a constant\nprior year end actual market size.\nPerformance\nMargins improved primarily due to lower\nNGP write-downs and losses.\nDefinition\nTobacco & NGP operating margin is adjusted\noperating profit divided by tobacco & NGP\nnet revenue expressed as a percentage.\nPerformance\nTobacco & NGP net revenue declined\n4.7 per cent at actual exchange rates.\nExcluding the Premium Cigar Division,\nTobacco & NGP net revenue declined\n1.9 per cent at actual exchange rates but\ngrew 1.4 per cent on a constant currency\nbasis. Tobacco net revenue increased\nby 1.5 per cent excluding the Premium\nCigar Division disposal and NGP\nrevenue was down by 3.9 per cent\nboth at constant currency.\nDefinition\nTobacco & NGP net revenue comprises\ntobacco and NGP revenue less duty and\nsimilar items, excluding peripheral products.\nPerformance\nThe dividend grew 1.0 per cent reflecting\nour progressive dividend policy. This follows\nthe Board’s decision in May 2020 to rebase\nthe dividend by one-third to accelerate\ndebt repayment.\nDefinition\nDividend per share represents the total\nannual dividends, being the sum of the\npaid interim dividend and the proposed\nfinal dividend for the financial year.\nPerformance\nAdjusted earnings per share was up\n2.8 per cent on an organic constant\ncurrency basis, excluding a currency\nheadwind of 3.1 per cent. Reported\nearnings per share was up 89.5 per cent.\nThis is explained in the Financial Review.\nDefinition\nAdjusted earnings per share represents\nadjusted profit after tax attributable to the\nequity holders of the Company divided by\nthe weighted average number of shares in\nissue during the period, excluding shares\nheld to satisfy employee share plans and\nshares purchased by the Company and held\nas treasury shares.\nPerformance\nReturn on invested capital improved in\nthe year driven by a reduction in invested\ncapital as a result of the disposal of the\nPremium Cigar Division.\nDefinition\nReturn on invested capital measures the\neffectiveness of capital allocation and is\ncalculated by dividing adjusted operating\nprofit after tax by the annual average\nof: intangible assets, property, plant\nand equipment, net assets held for sale,\ninventories, trade and other receivables\nand trade payables and other current\nliabilities. The annual average is defined\nas the average of the opening and closing\nbalance sheet values.\n-2bps\n-17bps\n-22bps\n21\n20\n19\n41.2%*\n44.1%\n21 43.5%\n20\n19\n£7.6bn\n£8.0bn*\n£8.0bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000013_segments",
      "report_id": "ID_000013",
      "company_name": "Imperial Brands",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Segment: Tobacco & NGP\nSegment: Distribution\n\nAll segments must be named.",
      "golden_context": "Page 22:\n\nexchange rates. As anticipated, we grew\nour Group adjusted operating profit by\n4.8 per cent in the year on a constant\ncurrency basis driven by a reduction in\nour NGP losses and higher Distribution\nprofit from Logista. Reported operating\nprofit grew 15.2 per cent at actual\nexchange rates. We delivered solid\ncash flow performance, generating\n£1.5 billion of free cash flow\n\nPage 72:\n\nLogista has continued to distribute products\nto customers with almost all the points of sale,\nproducts and services classified as essential\nby governments, even during the periods when\nCOVID-19 still restricted movements in many of\nits end markets.\nNet revenue grew 5.8 per cent at constant\ncurrency driven by growth in all markets and\nactivities except tobacco distribution in France\nand Portugal. Pharmaceutical distribution, parcel\ntransport (Nacex) and the distribution of convenience\nproducts in Spain and Italy recorded double-digit\ngrowth. Adjusted operating profit increased\n14.8 per cent at constant currency due to efficiency\nimprovement initiatives.\nThe adjusted operating profit contribution to the\nGroup, after eliminations, increased by 11.3 per cent.\nThis reflects the positive performance of Logista’s\nadjusted operating profit delivery as outlined above,\nthe benefit of inventory valuations following tax\nand price movements in tobacco products and the\nrecovery from negative COVID-19 impacts last year.\nIn line with other Imperial-owned entities, we\ncontinue to benefit from an intercompany cash\npooling arrangement with Logista, which further\nenhances the Group’s liquidity. On a 12-month basis,\nthe daily average cash balance loaned to the Group by\nLogista was £2.0 billion, with movements in the cash\nposition during the 12-month period varying from a\nhigh of £4.0 billion to a low of £1.3 billion, primarily\ndue to the timing of excise duty payments. At\nthe period end, the loan position was £1.8 billion\ncompared to £2.4 billion at 30 September 2020",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000014_cash_flow",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Our 2020 cash delivery of £1.3 billion was supported by a\n£1.0 billion working capital inflow driven by c.£0.7 billion\nof COVID-19 related timing benefits. Excluding these\nCOVID-19 related timing benefits our 2020 underlying\ncash conversion was c.107 per cent with an underlying\nnet cash inflow of £0.6 billion.",
      "golden_context": "Page 39:\n\nto c.£0.7 billion or 20 per cent cash conversion, which we\nexpect to reverse next year. Whilst we completed the\ndisposal of our Premium Cigar business after our year end,\nwith the receipt of the majority of the proceeds, we did\nreceive a £83 million non-refundable cash payment in 2020\nand have deferred €407 million into 2021. These proceeds\nwill predominantly be used to pay down debt.\nAt the interim results in May 2020 we announced a\nrebasing of our 2020 dividend policy by one third. We have\nadopted a progressive dividend policy, growing annually\nfrom the revised level, taking into account underlying\nbusiness performance.\nEffective capital allocation remains at the core of our\ndecision making and we aim to use continued strong cash\ngeneration, the shareholder dividend savings and proceeds\nfrom the disposal of Premium Cigars to reduce our gearing\nto the lower end of our 2-2.5 times target range by the end\nof 2022. As of 30 September 2020, our adjusted net debt to\nEBITDA was 2.7 times (2019: 2.9 times).\nCASH FLOW AND NET DEBT\nOur 2020 cash delivery of £1.3 billion was supported by a\n£1.0 billion working capital inflow driven by c.£0.7 billion\nof COVID-19 related timing benefits. Excluding these\nCOVID-19 related timing benefits our 2020 underlying\ncash conversion was c.107 per cent with an underlying\nnet cash inflow of £0.6 billion. The COVID-19 working\ncapital benefits were materially in our Logistics business\ndue to changes in duty payments dates in Italy offsetting\naccelerated payments in France. In the UK we have also\nseen a £220 million deferment of VAT due to COVID-19. We\nexpect these to unwind next year, providing a c.£0.7 billion\nor 20 per cent cash conversion headwind in 2021.\nExcluding COVID-19, this year’s underlying working capital\ninflow was strong at c.£300 million, which included a\nc.£200 million higher working capital position in Australia\nas the benefit seen last year reversed in line with guidance\nin last year’s results. This cash outflow was offset by\nimprovements in a number of markets, including the US.\nCapital expenditure saw a year on year reduction of\nc.£80 million as we saw a reduction in NGP-related spend\nand continued tight control of tobacco investments.\nRestructuring cash costs were in line with last year.\nAfter including £0.3 billion of lease liabilities on the\nadoption of IFRS 16, reported net debt decreased by\n£0.8 billion to £11.1 billion and adjusted net debt decreased\nby £1.1 billion to £10.3 billion at actual rates.\nDuring the year we repaid two bonds totalling £1.6 billion\nequivalent. The denomination of our closing adjusted net\ndebt was split approximately 68 per cent euro and 32 per\ncent US dollar.\nAs at 30 September 2020, the Group had committed\nfinancing in place of around £16.2 billion, which comprised\n29 per cent bank facilities and 71 per cent raised from\ncapital markets. During the year a new revolving credit\nfacility of €3.5 billion replaced the existing revolving\nfacilities of £3 billion equivalent and bilateral facilities\ntotalling €1.7 billion were arranged whilst one bilateral\nfacility of €300 million was cancelled.\nGROUP RESULTS – CONSTANT CURRENCY ANALYSIS\n£ million (unless otherwise indicated)\nYear ended\n30 September\n2019\nForeign\nexchange\nConstant\ncurrency\nmovement\nYear ended\n30 September\n 2020 Change\nConstant\ncurrency\nchange\nTobacco & NGP Net Revenue\nEurope 3,633 (35) (29) 3,569 -1.8% -0.8%\nAmericas 2,469 2 9 2,480 +0.4% +0.4%\nAfrica, Asia and Australasia 1,889 (35) 82 1,936 +2.5% +4.3%\nTotal Group 7,991 (68) 62 7,985 -0.1% +0.8%\nTobacco & NGP Adjusted Operating Profit\nEurope 1,694 (12) (100) 1,582 -6.6% -5.9%\nAmericas 1,064 4 (36) 1,032 -3.0% -3.4%\nAfrica, Asia and Australasia 763 (23) (66) 674 -11.7% -8.7%\nTotal Group 3,521 (31) (202) 3,288 -6.6% -5.7%\nDistribution\nDistribution fees 1,015 (7) 7 1,015 +0.0% +0.7%\nAdjusted operating profit 232 (2) (4) 226 -2.6% -1.9%\nGroup Adjusted Results\nAdjusted operating profit 3,739 (33) (179) 3,527 -5.7% -4.8%\nAdjusted net finance costs (450) 2 19 (429) +4.7% +4.2%\nAdjusted EPS (pence) 272.3 (2.6) (15.3) 254.4 -6.6% -5.6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000014_company_type",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 2:\n\nIndependent Auditors’ Report 125\nConsolidated Income Statement 136\nConsolidated Statement\nof Comprehensive Income 136\nConsolidated Balance Sheet 137\nConsolidated Statement of Changes in Equity 138\nConsolidated Cash Flow Statement 139\nNotes to the Financial Statements 140\nImperial Brands PLC Balance Sheet 191\nImperial Brands PLC Statement of Changes in Equity 191\nNotes to the Financial St",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000014_key_financials",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "8.0bn GBP (tobacco & GCP net rev), 254.4p adjusted EPS, 158.3p EPS (earnings per share), 137.7 pence dividend per share, tobacco & NGP operating margin 41.2%, 13.2% return on invested capital, 127% cash conversion rate",
      "golden_context": "Page 3:\n\nTOBACCO & NGP NET REVENUE*\n£8.0bn\n+0.8%\nADJUSTED EARNINGS PER SHARE*\n254.4p\n-5.6%\nDIVIDEND PER SHARE**\n137.7p\n-33.3%\nASSET BRAND NET REVENUE*\n£5.2bn\n+1.0%\nREPORTED EARNINGS PER\nSHARE\n158.3p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000014_revenue",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "8.0bn revenue",
      "golden_context": "Page 3:\n\nTOBACCO & NGP NET REVENUE*\n£8.0bn\n+0.8%\nADJUSTED EARNINGS PER SHARE*\n254.4p\n-5.6%\nDIVIDEND PER SHARE**\n137.7p\n-33.3%\nASSET BRAND NET REVENUE*\n£5.2bn\n+1.0%\nREPORTED EARNINGS PER\nSHARE\n158.3p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000014_revenue_growth",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8.0bn, 8.0bn previous",
      "golden_context": "Page 3:\n\nTOBACCO & NGP NET REVENUE*\n£8.0bn\n+0.8%\nADJUSTED EARNINGS PER SHARE*\n254.4p\n-5.6%\nDIVIDEND PER SHARE**\n137.7p\n-33.3%\nASSET BRAND NET REVENUE*\n£5.2bn\n+1.0%\nREPORTED EARNINGS PER\nSHARE\n158.3p",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000014_segments",
      "report_id": "ID_000014",
      "company_name": "Imperial Brands",
      "year": 2020,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Tobacco & NGP\nDistribution",
      "golden_context": "Page 165:\n\n£ million Goodwill\nIntangible\nassets with\nindefinite\nlives Goodwill\nIntangible\nassets with\nindefinite\nlives\nEurope 4,645 353 4,602 342\nAmericas 4,265 – 4,225 –\nAfrica, Asia & Australasia 1,836 140 1,819 136\nTobacco & NGP 10,746 493 10,646 478\nDistribution 1,794 – 1,739 –\n12,540 493 12,385 478",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_cash_flow",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "free cash flow 326.5m, 107% cash flow conversion",
      "golden_context": "Page 2:\n\nOngoing Revenue (at CER) W\n£3,063.5m\n+9.8%\nRevenue (at AER)\n£2,956.6m\n+5.5%\nLost time accident (LTA) W\n0.38\n-2.6%\nOngoing Operating Profit (at CER) W\n£458.7m\n+19.5%\nProfit before tax (at AER)\n£325.1m\n+41.5%\nTotal colleague retention W\n84.4%\n-420bps\nFree Cash Flow W\n£326.5m\n107% cash flow conversion\n2021 dividend payment\n6.39p\nTotal client retention W\n85.3%\n+80bps\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_company_type",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 1:\n\nReshaping\nour business\nRentokil Initial plc\nAnnual Report 2021",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_key_financials",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "3,063.5m GBP revenues (at CER), op profit (at CER) 458.7m GBP, free cash flow 326.5m, 107% cash flow conversion, 2,956.6m GBP revenue at AER, 325.1m GBP profit before tax at AER, 6.39 pence dividend",
      "golden_context": "Page 2:\n\nOngoing Revenue (at CER) W\n£3,063.5m\n+9.8%\nRevenue (at AER)\n£2,956.6m\n+5.5%\nLost time accident (LTA) W\n0.38\n-2.6%\nOngoing Operating Profit (at CER) W\n£458.7m\n+19.5%\nProfit before tax (at AER)\n£325.1m\n+41.5%\nTotal colleague retention W\n84.4%\n-420bps\nFree Cash Flow W\n£326.5m\n107% cash flow conversion\n2021 dividend payment\n6.39p\nTotal client retention W\n85.3%\n+80bps\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_revenue",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3bn rev (at CER)",
      "golden_context": "Page 2:\n\nOngoing Revenue (at CER) W\n£3,063.5m\n+9.8%\nRevenue (at AER)\n£2,956.6m\n+5.5%\nLost time accident (LTA) W\n0.38\n-2.6%\nOngoing Operating Profit (at CER) W\n£458.7m\n+19.5%\nProfit before tax (at AER)\n£325.1m\n+41.5%\nTotal colleague retention W\n84.4%\n-420bps\nFree Cash Flow W\n£326.5m\n107% cash flow conversion\n2021 dividend payment\n6.39p\nTotal client retention W\n85.3%\n+80bps\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_revenue_growth",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "3bn (+9.8%)",
      "golden_context": "Page 2:\n\nOngoing Revenue (at CER) W\n£3,063.5m\n+9.8%\nRevenue (at AER)\n£2,956.6m\n+5.5%\nLost time accident (LTA) W\n0.38\n-2.6%\nOngoing Operating Profit (at CER) W\n£458.7m\n+19.5%\nProfit before tax (at AER)\n£325.1m\n+41.5%\nTotal colleague retention W\n84.4%\n-420bps\nFree Cash Flow W\n£326.5m\n107% cash flow conversion\n2021 dividend payment\n6.39p\nTotal client retention W\n85.3%\n+80bps\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000015_segments",
      "report_id": "ID_000015",
      "company_name": "Rentokil Initial",
      "year": 2021,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Pest control, hygiene & wellbeing, workwear. Previous structure: Pest control, hygiene, protect & enhance",
      "golden_context": "Page 19:\n\nChanges to our segmental structure from 1 January 2022\nOld business structure\nPest Control\nHygiene\nProtect & Enhance\nComprising:\n– UK Property Care\n– Ambius\n– Dental Services\n– France Workwear\nOld regional structure\nNorth America\nEurope (inc. LATAM)\nUK & Rest of World\n(inc. Ireland & Baltics)\n– Nordics, Poland, Caribbean\n– Sub-Saharan Africa\n– MENAT\nAsia\nPacific\nNew business structure\nPest Control\nHygiene & Wellbeing\nWorkwear\n1. Total includes £4.5m of central & regional overheads.\nNew regional structure\nNorth America\nEurope (inc. LATAM)\nUK & Sub-Saharan Africa\n(inc. Ireland & Baltics)\nAsia & MENAT\nPacific",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000016_cash_flow",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "374m free cash flow, 600m net cash flow from operating activities",
      "golden_context": "Page 2: \n\nomplements to, and\nnot replacements for, the comparable IFRS measures. An\nexplanation of the measures used along with reconciliation\nto the nearest IFRS measure is provided in the relevant\nNotes to the Financial Statements on pages 149 to 189.\nNotes\nOrganic Revenue Growth represents the growth in Revenue\nexcluding the effect of businesses acquired during the year.\nAcquired businesses are included in organic measures in the\nyear following acquisition, and the comparative period is\nadjusted to include an estimated full-year performance for\ngrowth calculations (pro forma revenue). The Terminix\nacquisition is treated differently to other acquisitions for\nOrganic Revenue Growth purposes, with the growth in\nRevenue not being excluded. The full pre-acquisition results\nof the Terminix business are included for the comparative\nperiod and Organic Revenue Growth calculated as the\ngrowth in Revenue compared with the comparative period.\nRentokil North America refers to the Rentokil Initial business\nin North America not inclusive of Terminix.\nGroup Organic Revenue Growth\n(excluding COVID disinfection)\n6.6%\nTarget: 4–5%\nWorkwear (France) Organic Revenue Growth\n16.6%\nTarget: 3–4%\nPest Control Organic Revenue Growth\n5.6%\nTarget: 4.5–6.5%\nHygiene & Wellbeing Organic Revenue\nGrowth (excluding COVID disinfection)\n9.3%\nTarget: 4–6%\nAdjusted Free Cash Flow Conversion W\n(at AER)\n91.8%\nTarget: c.90%\nPerformance against our medium-term growth targets 2022\nRevenue (at CER) W\n£3,522m\n+19.1%\n2021: £2,957m\nLost time accident1\n (LTA) W\n0.39\n-2.6%\n2021: 0.38\nAdjusted Operating Profit (at CER) W\n£542m\n+22.7%\n2021: £442m\nRevenue (at AER)\n£3,714m\n+25.6%\n2021: £2,957m\nProfit before tax (at AER)\n£296m\n-9.1%\n2021: £325m\nTotal colleague retention1\nW\n82.6%\n-180bps\n2021: 84.4%\nNet Cash Flows from Operating Activities\n(at AER)\n£600m\n+6.6%\n2021: £563m\nFree Cash Flow (at AER) W\n£374m\n+5.9%\n2021: £353m\nTotal client retention1\nW\n85.4%\n+0bps\n2021: 85.4%\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000016_company_type",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 1:\n\nRentokil Initial plc\nAnnual Report 2022",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000016_key_financials",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "3,714m GBP revenue (at AER), profit before tax 296m, net cash flows from operating activities at AER 600m GBP, 3,522m GBP revenue at CER, 542m GBP adjusted operating profit at CER, 374m free cash flow at AER",
      "golden_context": "Page 2: \n\nomplements to, and\nnot replacements for, the comparable IFRS measures. An\nexplanation of the measures used along with reconciliation\nto the nearest IFRS measure is provided in the relevant\nNotes to the Financial Statements on pages 149 to 189.\nNotes\nOrganic Revenue Growth represents the growth in Revenue\nexcluding the effect of businesses acquired during the year.\nAcquired businesses are included in organic measures in the\nyear following acquisition, and the comparative period is\nadjusted to include an estimated full-year performance for\ngrowth calculations (pro forma revenue). The Terminix\nacquisition is treated differently to other acquisitions for\nOrganic Revenue Growth purposes, with the growth in\nRevenue not being excluded. The full pre-acquisition results\nof the Terminix business are included for the comparative\nperiod and Organic Revenue Growth calculated as the\ngrowth in Revenue compared with the comparative period.\nRentokil North America refers to the Rentokil Initial business\nin North America not inclusive of Terminix.\nGroup Organic Revenue Growth\n(excluding COVID disinfection)\n6.6%\nTarget: 4–5%\nWorkwear (France) Organic Revenue Growth\n16.6%\nTarget: 3–4%\nPest Control Organic Revenue Growth\n5.6%\nTarget: 4.5–6.5%\nHygiene & Wellbeing Organic Revenue\nGrowth (excluding COVID disinfection)\n9.3%\nTarget: 4–6%\nAdjusted Free Cash Flow Conversion W\n(at AER)\n91.8%\nTarget: c.90%\nPerformance against our medium-term growth targets 2022\nRevenue (at CER) W\n£3,522m\n+19.1%\n2021: £2,957m\nLost time accident1\n (LTA) W\n0.39\n-2.6%\n2021: 0.38\nAdjusted Operating Profit (at CER) W\n£542m\n+22.7%\n2021: £442m\nRevenue (at AER)\n£3,714m\n+25.6%\n2021: £2,957m\nProfit before tax (at AER)\n£296m\n-9.1%\n2021: £325m\nTotal colleague retention1\nW\n82.6%\n-180bps\n2021: 84.4%\nNet Cash Flows from Operating Activities\n(at AER)\n£600m\n+6.6%\n2021: £563m\nFree Cash Flow (at AER) W\n£374m\n+5.9%\n2021: £353m\nTotal client retention1\nW\n85.4%\n+0bps\n2021: 85.4%\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000016_revenue",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3.7bn rev (at AER)",
      "golden_context": "Page 2: \n\nomplements to, and\nnot replacements for, the comparable IFRS measures. An\nexplanation of the measures used along with reconciliation\nto the nearest IFRS measure is provided in the relevant\nNotes to the Financial Statements on pages 149 to 189.\nNotes\nOrganic Revenue Growth represents the growth in Revenue\nexcluding the effect of businesses acquired during the year.\nAcquired businesses are included in organic measures in the\nyear following acquisition, and the comparative period is\nadjusted to include an estimated full-year performance for\ngrowth calculations (pro forma revenue). The Terminix\nacquisition is treated differently to other acquisitions for\nOrganic Revenue Growth purposes, with the growth in\nRevenue not being excluded. The full pre-acquisition results\nof the Terminix business are included for the comparative\nperiod and Organic Revenue Growth calculated as the\ngrowth in Revenue compared with the comparative period.\nRentokil North America refers to the Rentokil Initial business\nin North America not inclusive of Terminix.\nGroup Organic Revenue Growth\n(excluding COVID disinfection)\n6.6%\nTarget: 4–5%\nWorkwear (France) Organic Revenue Growth\n16.6%\nTarget: 3–4%\nPest Control Organic Revenue Growth\n5.6%\nTarget: 4.5–6.5%\nHygiene & Wellbeing Organic Revenue\nGrowth (excluding COVID disinfection)\n9.3%\nTarget: 4–6%\nAdjusted Free Cash Flow Conversion W\n(at AER)\n91.8%\nTarget: c.90%\nPerformance against our medium-term growth targets 2022\nRevenue (at CER) W\n£3,522m\n+19.1%\n2021: £2,957m\nLost time accident1\n (LTA) W\n0.39\n-2.6%\n2021: 0.38\nAdjusted Operating Profit (at CER) W\n£542m\n+22.7%\n2021: £442m\nRevenue (at AER)\n£3,714m\n+25.6%\n2021: £2,957m\nProfit before tax (at AER)\n£296m\n-9.1%\n2021: £325m\nTotal colleague retention1\nW\n82.6%\n-180bps\n2021: 84.4%\nNet Cash Flows from Operating Activities\n(at AER)\n£600m\n+6.6%\n2021: £563m\nFree Cash Flow (at AER) W\n£374m\n+5.9%\n2021: £353m\nTotal client retention1\nW\n85.4%\n+0bps\n2021: 85.4%\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000016_revenue_growth",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "3.7bn +25.6% (from 3bn)",
      "golden_context": "Page 2: \n\nomplements to, and\nnot replacements for, the comparable IFRS measures. An\nexplanation of the measures used along with reconciliation\nto the nearest IFRS measure is provided in the relevant\nNotes to the Financial Statements on pages 149 to 189.\nNotes\nOrganic Revenue Growth represents the growth in Revenue\nexcluding the effect of businesses acquired during the year.\nAcquired businesses are included in organic measures in the\nyear following acquisition, and the comparative period is\nadjusted to include an estimated full-year performance for\ngrowth calculations (pro forma revenue). The Terminix\nacquisition is treated differently to other acquisitions for\nOrganic Revenue Growth purposes, with the growth in\nRevenue not being excluded. The full pre-acquisition results\nof the Terminix business are included for the comparative\nperiod and Organic Revenue Growth calculated as the\ngrowth in Revenue compared with the comparative period.\nRentokil North America refers to the Rentokil Initial business\nin North America not inclusive of Terminix.\nGroup Organic Revenue Growth\n(excluding COVID disinfection)\n6.6%\nTarget: 4–5%\nWorkwear (France) Organic Revenue Growth\n16.6%\nTarget: 3–4%\nPest Control Organic Revenue Growth\n5.6%\nTarget: 4.5–6.5%\nHygiene & Wellbeing Organic Revenue\nGrowth (excluding COVID disinfection)\n9.3%\nTarget: 4–6%\nAdjusted Free Cash Flow Conversion W\n(at AER)\n91.8%\nTarget: c.90%\nPerformance against our medium-term growth targets 2022\nRevenue (at CER) W\n£3,522m\n+19.1%\n2021: £2,957m\nLost time accident1\n (LTA) W\n0.39\n-2.6%\n2021: 0.38\nAdjusted Operating Profit (at CER) W\n£542m\n+22.7%\n2021: £442m\nRevenue (at AER)\n£3,714m\n+25.6%\n2021: £2,957m\nProfit before tax (at AER)\n£296m\n-9.1%\n2021: £325m\nTotal colleague retention1\nW\n82.6%\n-180bps\n2021: 84.4%\nNet Cash Flows from Operating Activities\n(at AER)\n£600m\n+6.6%\n2021: £563m\nFree Cash Flow (at AER) W\n£374m\n+5.9%\n2021: £353m\nTotal client retention1\nW\n85.4%\n+0bps\n2021: 85.4%\nP",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000016_segments",
      "report_id": "ID_000016",
      "company_name": "Rentokil Initial",
      "year": 2022,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Pest control, hygiene & wellbeing, workwear. Previous structure: Pest control, hygiene, protect & enhance",
      "golden_context": "Page 4:\n\nTotal Revenue at CER1\n£m\nNorth\nAmerica\nEurope\n(incl. Latin\nAmerica)\nUK &\nSub-Saharan\nAfrica\nAsia &\n MENAT Pacific Total\nPest Control 1,581 425 187 222 101 2,516\nHygiene & Wellbeing 94 324 183 86 120 807\nWorkwear – 193 – – – 193\nTotal at CER 1,675 942 370 308 221 3,5222\nTotal at AER 1,849 941 370 321 227 3,7142\n1. For Total Revenue at AER please see Note A1 on page 154.\n2. Total includes £6.0m of central & regional overheads.\nAsia & MENAT\n£308m\n+13.4%\nPacific\n£221m\n+12.8%\nGroup Organic Revenue Growth\nTarget: At least 5.0%\nPest Control Organic Revenue Growth\nTarget: 4.5–6.5%\nHygiene & Wellbeing Organic Revenue Growth\nTarget: 4.0–6.0%\nWorkwear Organic Revenue Growth\nTarget: 3.0–4.0%\nGroup Adjusted Operating Margin\nTarget: FY 25 >19.0%\nFree Cash Flow Conversion\nTarget: FY 25: At least 90%\nNorth America\n£1,675m\n+29.7%\nEurope (incl. Latin America)\n£942m\n+13.2%\nUK & Sub-Saharan Africa\n£370m\n+2.9%\nOur RIGHT WAY plan divides our business\ninto two core categories and five geographic\nregions, all operating on a low-cost,\nsingle-country operating structure. We have\nconsistently implemented an effective strategy\nat pace, enhanced by bolt-on and strategic\nM&A, and this has delivered consistent\nprogress against our financial targets.\nWe are a strong and focused business,\noperating in higher growth markets, with\nimproving levels of organic growth, reduced\ncapital intensity, high levels of cash\ngeneration, and a proven and successful\nM&A capability.\nOur Business at a Glance\nA global leader\nRent",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000017_cash_flow",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "737m, 500m free cash flow",
      "golden_context": "Page 2: \n\n£5,375m\n+44.7%\n2022: £3,714m\nProfit before tax (at AER)\n£493m\n+66.9%\n2022: £296m\nTotal colleague retention1\nW\n84.2%\n+474bps\n2022: 79.5%\nNet Cash Flows from Operating Activities\n(at AER)\n£737m\n+22.8%\n2022: £600m\nFree Cash Flow (at AER) W\n£500m\n+33.7%\n2022: £374m\nTotal customer retention2\nW\n82.3%\n-10bps\n2022: 82.4%\nPerformance\nW KPIs, see pages 22 to 25\nStrategic Report\n04 Our Business at a Glance\n06 Q&A with Andy Ransom, Chief Executive\n10 Reasons to Invest\n14 Our Business Model\n16 Our Strategic Priorities\n22 Key Performance Indicators\n28 Market Trends and Opportunities\n34 Our Regional Review\n40 Our Business Review\n40 Pest Control\n50 Hygiene & Wellbeing\n56 France Workwear\n57 Financial Review\n63 Use of Non-IFRS Measures\n68 Responsible Business\n83 Our Stakeholders and s.172(1) Statement\n87 Risks and Uncertainties\n94 Viability Statement\nContents Strategic priorities\nin action\nCorporate Governance\n 96 Chairman’s Introduction to Governance\n 98 Governance at a Glance\n 99 Board of Directors\n102 Executive Leadership Team\n104 Corporate Governance Report\n117 Audit Committee Report\n125 Nomination Committee Report\n131 Directors’ Remuneration Report\n162 Independent Auditors’ Report\nFinancial Statements\n170 Consolidated Financial Statements\n175 Notes to the Consolidated Financial\nStatements\n214 Related Undertakings\n221 Parent Company Financial Statements\n223 Notes to the Parent Company\nFinancial Statements\nOther Information",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000017_company_type",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 1:\n\nRentokil Initial plc\nAnnual Report 2023",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000017_key_financials",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "5,375m GBP revenue at AER, 493m GBP profit before tax at AER, op cash flow 737m GBP, revenue CER 5,414m GBP, 91.8% adjusted free cash flow conversion at AER, 5.9% free cash flow growth at AER, adjusted operating profit at CER 897m GBP, Free cash flow at AER 500m GBP",
      "golden_context": "Page 2: \n\n£5,375m\n+44.7%\n2022: £3,714m\nProfit before tax (at AER)\n£493m\n+66.9%\n2022: £296m\nTotal colleague retention1\nW\n84.2%\n+474bps\n2022: 79.5%\nNet Cash Flows from Operating Activities\n(at AER)\n£737m\n+22.8%\n2022: £600m\nFree Cash Flow (at AER) W\n£500m\n+33.7%\n2022: £374m\nTotal customer retention2\nW\n82.3%\n-10bps\n2022: 82.4%\nPerformance\nW KPIs, see pages 22 to 25\nStrategic Report\n04 Our Business at a Glance\n06 Q&A with Andy Ransom, Chief Executive\n10 Reasons to Invest\n14 Our Business Model\n16 Our Strategic Priorities\n22 Key Performance Indicators\n28 Market Trends and Opportunities\n34 Our Regional Review\n40 Our Business Review\n40 Pest Control\n50 Hygiene & Wellbeing\n56 France Workwear\n57 Financial Review\n63 Use of Non-IFRS Measures\n68 Responsible Business\n83 Our Stakeholders and s.172(1) Statement\n87 Risks and Uncertainties\n94 Viability Statement\nContents Strategic priorities\nin action\nCorporate Governance\n 96 Chairman’s Introduction to Governance\n 98 Governance at a Glance\n 99 Board of Directors\n102 Executive Leadership Team\n104 Corporate Governance Report\n117 Audit Committee Report\n125 Nomination Committee Report\n131 Directors’ Remuneration Report\n162 Independent Auditors’ Report\nFinancial Statements\n170 Consolidated Financial Statements\n175 Notes to the Consolidated Financial\nStatements\n214 Related Undertakings\n221 Parent Company Financial Statements\n223 Notes to the Parent Company\nFinancial Statements\nOther Information",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000017_revenue",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "5.4bn",
      "golden_context": "Page 2: \n\n£5,375m\n+44.7%\n2022: £3,714m\nProfit before tax (at AER)\n£493m\n+66.9%\n2022: £296m\nTotal colleague retention1\nW\n84.2%\n+474bps\n2022: 79.5%\nNet Cash Flows from Operating Activities\n(at AER)\n£737m\n+22.8%\n2022: £600m\nFree Cash Flow (at AER) W\n£500m\n+33.7%\n2022: £374m\nTotal customer retention2\nW\n82.3%\n-10bps\n2022: 82.4%\nPerformance\nW KPIs, see pages 22 to 25\nStrategic Report\n04 Our Business at a Glance\n06 Q&A with Andy Ransom, Chief Executive\n10 Reasons to Invest\n14 Our Business Model\n16 Our Strategic Priorities\n22 Key Performance Indicators\n28 Market Trends and Opportunities\n34 Our Regional Review\n40 Our Business Review\n40 Pest Control\n50 Hygiene & Wellbeing\n56 France Workwear\n57 Financial Review\n63 Use of Non-IFRS Measures\n68 Responsible Business\n83 Our Stakeholders and s.172(1) Statement\n87 Risks and Uncertainties\n94 Viability Statement\nContents Strategic priorities\nin action\nCorporate Governance\n 96 Chairman’s Introduction to Governance\n 98 Governance at a Glance\n 99 Board of Directors\n102 Executive Leadership Team\n104 Corporate Governance Report\n117 Audit Committee Report\n125 Nomination Committee Report\n131 Directors’ Remuneration Report\n162 Independent Auditors’ Report\nFinancial Statements\n170 Consolidated Financial Statements\n175 Notes to the Consolidated Financial\nStatements\n214 Related Undertakings\n221 Parent Company Financial Statements\n223 Notes to the Parent Company\nFinancial Statements\nOther Information",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000017_revenue_growth",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "5.4bn (+44.7%, previous 3.7bn)",
      "golden_context": "Page 2: \n\n£5,375m\n+44.7%\n2022: £3,714m\nProfit before tax (at AER)\n£493m\n+66.9%\n2022: £296m\nTotal colleague retention1\nW\n84.2%\n+474bps\n2022: 79.5%\nNet Cash Flows from Operating Activities\n(at AER)\n£737m\n+22.8%\n2022: £600m\nFree Cash Flow (at AER) W\n£500m\n+33.7%\n2022: £374m\nTotal customer retention2\nW\n82.3%\n-10bps\n2022: 82.4%\nPerformance\nW KPIs, see pages 22 to 25\nStrategic Report\n04 Our Business at a Glance\n06 Q&A with Andy Ransom, Chief Executive\n10 Reasons to Invest\n14 Our Business Model\n16 Our Strategic Priorities\n22 Key Performance Indicators\n28 Market Trends and Opportunities\n34 Our Regional Review\n40 Our Business Review\n40 Pest Control\n50 Hygiene & Wellbeing\n56 France Workwear\n57 Financial Review\n63 Use of Non-IFRS Measures\n68 Responsible Business\n83 Our Stakeholders and s.172(1) Statement\n87 Risks and Uncertainties\n94 Viability Statement\nContents Strategic priorities\nin action\nCorporate Governance\n 96 Chairman’s Introduction to Governance\n 98 Governance at a Glance\n 99 Board of Directors\n102 Executive Leadership Team\n104 Corporate Governance Report\n117 Audit Committee Report\n125 Nomination Committee Report\n131 Directors’ Remuneration Report\n162 Independent Auditors’ Report\nFinancial Statements\n170 Consolidated Financial Statements\n175 Notes to the Consolidated Financial\nStatements\n214 Related Undertakings\n221 Parent Company Financial Statements\n223 Notes to the Parent Company\nFinancial Statements\nOther Information",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000017_segments",
      "report_id": "ID_000017",
      "company_name": "Rentokil Initial",
      "year": 2023,
      "country": "GB",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Pest control, hygiene & wellbeing, workwear. Previous structure: Pest control, hygiene, protect & enhance",
      "golden_context": "Page 5: \n\nOur business categories\nRentokil Initial’s Pest Control business, including Terminix, is the\nlargest operator in both the US – the world’s biggest pest control\nmarket – and the world overall. We offer the highest levels of risk\nmanagement, reassurance, and responsiveness to customers,\ndelivered through our range of innovative products and solutions.\nRentokil Initial is a leading global player in a resilient and defensive\nindustry, characterised by positive and strong long-term structural\ngrowth drivers. We have strengthened our position through organic\ngrowth and by establishing stronger market positions, and through\nthe introduction of innovative products and services, acquisitions\nto build scale and density, and our determination to be an Employer\nof Choice.\nRevenue at CER:\n£4,321m\n+60.6%\nRevenue at AER:\n£4,286m\n+59.2%\nB Find out more on pages 40 to 47\n80%\nWe provide high-quality services for our\ncustomers by focusing on the safety,\nengagement and training of our colleagues,\nand by developing innovative products\nand services.\nThere is nothing more important in Rentokil\nInitial than ensuring that everyone goes home\nsafely at the end of their working day.\nHealth and Safety continues to be central\nto our culture and you can read more about\nour policies and practices on page 69.\nRentokil Initial is a diverse organisation by\nits nature, operating in 90 countries. We aim\nto be an Employer of Choice wherever we\noperate and our 62,900 colleagues are\nintegral to our business model.\nOur Employer of Choice programme is\ndesigned to create a workplace where we hire\ngreat people in line with our values, provide\nworld-class training and career development,\nengage and retain our people, and provide the\nbest tools to deliver a great customer service.\nHygiene & Wellbeing\nInitial Hygiene helps organisations around the world to manage\nhygiene risk, create healthier working environments, and make\nworkplaces better and safer places to be for staff and visitors.\nOur people provide dedicated and expert hygiene services in\nthe washroom and throughout entire premises.\nRevenue at CER:\n£866m\n+5.4%\nRevenue at AER:\n£858m\n+4.6%\nB Find out more on pages 50 to 53\n16%\nFrance Workwear\nInitial Workwear specialises in the supply and maintenance\nof garments, such as workwear and personal protective\nequipment, and also offers a specialist cleanroom service\nfor the pharmaceutical and healthcare sectors.\nRevenue at CER:\n£217m\n+13.2%\nRevenue at AER:\n£2",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000018_cash_flow",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "16.6m operating, -36.6m investing, -266m total",
      "golden_context": "Page 149:\n\nConsolidated statement of cash flows\nFor the year ended 31 December 2021 Note\n2021\n$m\n2020\n$m\nProfit/(loss) before tax 190.8 (268.5)\nAdjustments for:\nNet foreign exchange (gain)/loss (0.7) 14.5\nInterest and equity dividend income 7 (88.1) (107.4)\nInterest expense 10 50.8 44.0\nNet fair value losses/(gains) on financial assets 7 57.9 (51.2)\nDepreciation, amortisation and impairment 9, 12, 13 58.3 56.8\nCharges in respect of share-based payments 9, 22 24.0 10.3\nRealised gain on sale of subsidiary undertaking and intangible assets (6.5) –\nChanges in operational assets and liabilities:\nInsurance and reinsurance contracts (264.2) 633.6\nFinancial assets carried at fair value (30.0) (475.4)\nFinancial liabilities carried at fair value (0.4) (0.1)\nFinancial liabilities carried at amortised cost 0.7 0.8\nOther assets and liabilities (6.7) 33.3\nCash paid to the pension fund 27 – (30.4)\nInterest received 90.5 102.5\nEquity dividends received 1.9 1.6\nInterest paid (49.6) (42.4)\nCurrent tax paid (12.1) (39.1)\nNet cash flows from/(used in) operating activities 16.6 (117.1)\nCash flows from the sale of subsidiaries 21.4 –\nPurchase of property, plant and equipment (5.4) (9.0)\nProceeds from the sale of property, plant and equipment 0.2 8.6\nPurchase of intangible assets (53.5) (62.5)\nProceeds from the sale of intangible assets 0.7 10.2\nNet cash used in investing activities (36.6) (52.7)\nProceeds from the issue of ordinary shares 22 0.1 450.6\nShares repurchased 22 – (23.9)\nDistributions made to owners of the Company 22, 29 (39.2) –\nProceeds from drawdown of short-term borrowings – 470.0\nRepayment of short-term borrowings 17 (195.7) (289.4)\nPrincipal elements of lease payments (11.4) (14.5)\nNet cash flows (used in)/from financing activities (246.2) 592.8\nNet (decrease)/increase in cash and cash equivalents (266.2) 423.0\nCash and cash equivalents at 1 January 1,577.2 1,115.9\nNet (decrease)/increase in cash and cash equivalents (266.2) 423.0\nEffect of exchange rate fluctuations on cash and cash equivalents (10.3) 38.3\nCash and cash equivalents at 31 December 21 1,300.7 1,577.2\nThe purchase, maturity and disposal of financial assets is part of the Group’s insurance activities and is therefore classified as\nan operating cash flow. The purchase, maturity and disposal of derivative contracts is also classified as an operating cash flow.\nIncluded within cash and cash equivalents held by the Group are balances totalling $215 million (2020: $172 million) not\navailable for immediate use by the Group outside of the Lloyd’s syndicate within which they are held. Additionally, $7 million\n(2020: $9 million) is pledged cash held against Funds at Lloyd’s, and $0.4 million (2020: $0.5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000018_company_type",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "page 5:\n\nHiscox Ltd Report and Accounts 202",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000018_key_financials",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Gross premiums 4,269.2m USD (4bn previous year), net premiums earned 2,919.9m USD (2.8 previous), profit 190.8m USD, basic EPS (earnings per share) 55.3 USD cents, ordinary dividend 34.5 USD cents, 739.8 USD cents, 648.6 tangible net asset value per share (USD cents), 8.1% return on equity",
      "golden_context": "Page 8:\n\nGross premiums written\n$4,269.2m\nNet premiums earned\n$2,919.9m\nProfit/(loss) before tax\n$190.8m\nCombined ratio\n93.2%\nBasic earnings/(loss)\nper share\n55.3¢\nOrdinary dividend\n34.5¢\nNet asset value per share\n739.8¢\nTangible net asset value\nper share\n648.6¢\nReturn on equity\n8.1%\nFinancial KPIs\n2021\n2020\n2019\n2018\n2017\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n3,286.0\n2021\n2020\n2019\n2018\n2017\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2,416.2\n2021\n2020\n2019\n2018\n2017\n190.8\n (268.5)\n53.1\n135.6\n37.8\n2021\n2020\n2019\n2018\n2017\n55.3\n(91.6)\n 17.2\n41.6\n 8.1\n2021\n2020\n2019\n2018\n2017\n34.5\n0.0\n13.8\n41.9\n39.8\n2021\n2020\n2019\n2018\n2017\n93.2\n114.5\n106.8\n94.4\n98.8\n2021\n2020\n2019\n2018\n2017\n739.8\n689.0\n768.2\n798.6\n817.1\n2021\n2020\n2019\n2018\n2017\n648.6\n601.5\n670.6\n726.2\n751.5\n2021\n2020\n2019\n2018\n2017\n8.1\n(11.8)\n 2.2\n 5.3\n 1.0",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000018_revenue",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Gross premiums 4.3bn (4bn previous), net premiums earned 2.9bn (2.8 previous)",
      "golden_context": "Page 151 (definition of revenue):\n\n2.12 Revenue\nRevenue comprises insurance and reinsurance premiums\nearned on the rendering of insurance protection, net of\nreinsurance, together with profit commission, investment\nreturns, agency fees and other income. The Group’s\nshare of the results of associates is reported separately.\nThe accounting policies for insurance premiums are set\nout in note 2.13.\nOther revenue is recognised when, or as, the control of\nthe goods or services is transferred to a customer, i.e.\nperformance obligations are fulfilled at an amount that reflects\nthe consideration to which the Group expects to be entitled\nin exchange for those goods or services. See note 9 for\nfurther details. \n\nPage 8 (actual numbers):\n\nGross premiums written\n$4,269.2m\nNet premiums earned\n$2,919.9m\nProfit/(loss) before tax\n$190.8m\nCombined ratio\n93.2%\nBasic earnings/(loss)\nper share\n55.3¢\nOrdinary dividend\n34.5¢\nNet asset value per share\n739.8¢\nTangible net asset value\nper share\n648.6¢\nReturn on equity\n8.1%\nFinancial KPIs\n2021\n2020\n2019\n2018\n2017\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n3,286.0\n2021\n2020\n2019\n2018\n2017\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2,416.2\n2021\n2020\n2019\n2018\n2017\n190.8\n (268.5)\n53.1\n135.6\n37.8\n2021\n2020\n2019\n2018\n2017\n55.3\n(91.6)\n 17.2\n41.6\n 8.1\n2021\n2020\n2019\n2018\n2017\n34.5\n0.0\n13.8\n41.9\n39.8\n2021\n2020\n2019\n2018\n2017\n93.2\n114.5\n106.8\n94.4\n98.8\n2021\n2020\n2019\n2018\n2017\n739.8\n689.0\n768.2\n798.6\n817.1\n2021\n2020\n2019\n2018\n2017\n648.6\n601.5\n670.6\n726.2\n751.5\n2021\n2020\n2019\n2018\n2017\n8.1\n(11.8)\n 2.2\n 5.3\n 1.0",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000018_revenue_growth",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Gross premiums 4.3bn (4bn previous), net premiums earned 2.9bn (2.8 previous)",
      "golden_context": "Page 29 (retail), page 29-32 for all segments:\n\nHiscox Retail grew gross premiums\nwritten by 5.0%, or 1.5% in constant\ncurrency. Our commercial businesses,\nwhich constitute over three-quarters of\nthe Retail portfolio in gross premiums\nwritten terms, grew strongly across all\ngeographies. This was partially offset by\nslower momentum in personal lines and\nthe impact of deliberate portfolio actions\nin the US broker channel to reposition the\nbusiness towards smaller customers.\nWe have now exited over $100 million of\nthe non-core US business and, adjusting\nfor this, the Group Retail underlying\nportfolio grew by 6.8% on a constant\ncurrency basis.\n\nPage 8 (actual numbers):\n\nGross premiums written\n$4,269.2m\nNet premiums earned\n$2,919.9m\nProfit/(loss) before tax\n$190.8m\nCombined ratio\n93.2%\nBasic earnings/(loss)\nper share\n55.3¢\nOrdinary dividend\n34.5¢\nNet asset value per share\n739.8¢\nTangible net asset value\nper share\n648.6¢\nReturn on equity\n8.1%\nFinancial KPIs\n2021\n2020\n2019\n2018\n2017\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n3,286.0\n2021\n2020\n2019\n2018\n2017\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2,416.2\n2021\n2020\n2019\n2018\n2017\n190.8\n (268.5)\n53.1\n135.6\n37.8\n2021\n2020\n2019\n2018\n2017\n55.3\n(91.6)\n 17.2\n41.6\n 8.1\n2021\n2020\n2019\n2018\n2017\n34.5\n0.0\n13.8\n41.9\n39.8\n2021\n2020\n2019\n2018\n2017\n93.2\n114.5\n106.8\n94.4\n98.8\n2021\n2020\n2019\n2018\n2017\n739.8\n689.0\n768.2\n798.6\n817.1\n2021\n2020\n2019\n2018\n2017\n648.6\n601.5\n670.6\n726.2\n751.5\n2021\n2020\n2019\n2018\n2017\n8.1\n(11.8)\n 2.2\n 5.3\n 1.0",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000018_segments",
      "report_id": "ID_000018",
      "company_name": "Hiscox",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail businesses, London Market, Bermuda & Hiscox Re & ILS, Corporate Center\n\nSmall commercial, reinsurance, property, specialty, art and private client, global casualty, marine and energy.\n\nA correct answer should mention all of these aspects, except for \"Corporate Center,\" which is optional.",
      "golden_context": "Page 26:\n\nHiscox London Market – underwriting\npedigree meets trading innovation\nHiscox’s roots lie in the London Market.\nThis is our heritage and where we have\nbuilt a tremendous track record of delivery.\nOur business continues to evolve as we\ndevelop deeper underwriting expertise\nand data analytics in our specialist\nareas. We now lead over two-thirds of\nthe business we write in premium terms,\ncompared to just over a half four years\nago. This ensures we have much more\ncontrol of the business and the terms\non which it is being written, in short,\nthe Hiscox underwriting ecosystem\nis driving decisions. I am also excited \n\nPage 28:\n\nabout Hiscox London Market pioneering\ndigital underwriting and distribution in the\nLloyd’s market with its HiscoxPlus suite of\nproducts reaching a critical mass of over\n$100 million of gross premium written.\nWhile this is still a small proportion of\nHiscox London Market’s top line, digital\ndistribution and auto-underwriting will\ncontinue to grow in both importance and\nquantum in the years to come, and in\n2022 we expect this business to double\nto over $200 million.\nHiscox London Market provides cyclical\ngrowth opportunities, expanding\nand shrinking as market conditions\nchange. Since 2017 conditions have\nbeen improving and we now enjoy rate\nadequacy in all of our lines. We have\nused these improving market conditions\nto create a better-balanced portfolio of\nbusiness, improve terms and conditions,\nexpand margins and grow net revenues in\nbusiness lines with better risk-adjusted\nreturns. As I look forward, the improved\nbalance and control, combined with\nstronger margins and therefore resilience\nin the portfolio position us well for\ngenerating attractive risk-adjusted\nreturns through the cycle.\nHiscox Re & ILS – specialist capabilities\ncomplemented by third-party capital model\nHiscox Re & ILS is also part of our\nheritage and once again a business\nthat has had an excellent long-term\ntrack record. This business operates in\na market where conditions are cyclical,\nalthough the shape of the cycle has\nchanged over the last decade. The\ndevelopment of insurance-linked\nsecurities (ILS) platforms has resulted\nin new and efficient capital coming into\nthe market. We have capitalised on this\nopportunity and Hiscox Re & ILS has built\na successful ILS proposition, providing\na mechanism for lowering the cost of\ncapital for the business and providing\na means of scale in specialist areas in\nwhich the business participates.\nMarket conditions have significantly\nimproved, although further rate increases\nare necessary in some areas to genuinely\nachieve satisfactory returns through the\ncycle. We have used the last few years\nto refocus on business lines in which we\nhave deep expertise, thereby creating\na balance which is consistent with our\nunderwriting expertise. This combined\nwith improving market conditions is\nincreasing the resilience of the portfolio\nand creates the capacity to grow in lines\nwhere the returns are stronger. Looking\nforward, the improved resilience in\nthe portfolio, together with the growth\nof ILS AUM, is expected to drive\nmuch-improved generation of capital\nand profits through the cycle.\nThese component parts of our business\nenjoy a symbiotic relationship. The\ndevelopment of market-leading\nunderwriting capabilities, deep\nrelationships, innovation and\nentrepreneurial drive have traditionally\ncome from the big-ticket businesses.\nIn recent years, operational know-how,\nnew-generation digital technology, data\nanalytics and the auto-underwriting\nexpertise of the Retail digital business\nhave been supporting growth in the\nrest of the Group. It is this ecosystem\nwrapped in the unique culture of Hiscox\nthat is a source of strength and has helped\nthe business to withstand the external\nchallenges of recent years in order to\ncontinue to deliver a resilient performance.\nTurning to the 2021 financial result.\nRates\nRate momentum continues to be\nfavourable across all business divisions.\nHowever, as the rating cycle unfolds at\na different pace, the dynamic is slightly\ndifferent by business segment.\nHiscox London Market began\nbenefitting from rate increases as\nearly as 2017 and has seen a cumulative\nrates increase of 60%. In 2021, we\nsaw a 13% average rate improvement.\nWhile rate growth is continuing, the\nspeed of increase is now slowing in all\nlines except cyber. This is particularly\npronounced in US public company\nD&O and US general liability, although\nthe overall rate adequacy remains\nsignificantly above the loss experience\nand expectation. We expect this trend\nto continue in 2022 with momentum\nslowing further, however, rate adequacy\nremains solid and rates are likely to\nremain in positive territory growing\nby mid-single digits.\nFor Hiscox Re & ILS the market started\nto turn slightly later, but the business\nhas achieved a cumulative rate increase\nof 35% since 2017. In 2021, Re & ILS\nsaw an average rate increase of 8%.\nEuropean floods in July, Hurricane Ida’s\nlandfall in August and US tornadoes in\nDecember were once again a useful\nreminder of the risks borne by property\ncatastrophe reinsurers. As a result,\nwe have seen better underwriting\ndiscipline and further rate strengthening\nin North American property lines, risk,\nretro, marine and specialty as well as\nloss-impacted European business.\nAt the January 2022 renewals we saw\n10% reinsurance rate growth, however,\nit is our view that further increases are\nnecessary to achieve satisfactory returns\nthrough the cycle in all property lines.\nIn light of this, Hiscox Re & ILS will\ncontinue to be disciplined to ensure\nthe business we write is sufficiently\nrated to make a sustainable profit.\n\nPages 29-32:\n\nHiscox Retail is generally less cyclical\nbusiness with rates less prone to\nextreme fluctuations, yet in 2021 Retail\nrates increased by 5% on average.\nThis was led by Hiscox UK with rates\nup 7% and Hiscox USA, where rates in\nthe broker business grew 10%. Even in\nHiscox Europe, where rate increases are\ntypically dampened by tacit renewals,\nwe saw increases of 4% on average.\nAcross all regions Retail rate increases\nare at least adequate or in excess of loss\nexperience and expectation, resulting in\nsustained or expanding margins.\nAcross all our business segments, through\na combination of an indexed increase to\nexposure data and increasing rates, we\nbelieve we are achieving premium growth\nin excess of inflation expectations.\nClaims\n2021 was another year with above-mean\nnatural catastrophe losses. The Group\nhas reserved $223.8 million net of\nreinstatement premiums, with Hiscox\nRe & ILS most impacted. In Hiscox\nLondon Market we reduced the property\ncatastrophe exposure in 2021 as we\nmade a conscious choice not to write\nbusiness where pricing is not deemed\nadequate. In Hiscox Re & ILS, we\ncontinued the re-underwriting action\ncommenced in 2020 as we further\nreduced our exposure to aggregate\ncovers and increased attachment levels.\nIn 2021, we saw a continuation of\nheightened threats in cyber and\nfine-tuned our cyber appetite, focusing\nour SME business within Retail,\nreducing our exposure to ransomware\nevents in Hiscox London Market and\nreducing cyber aggregate exposure.\nThe Hiscox CyberClear Academy, our\nfree online training program for our\nsmaller customers, goes from strength\nto strength: we have now enrolled\nover 30,000 customers across the\ngeographies in which we operate.\nOur dedicated central cyber team\ncontinues to support our cyber\nunderwriters across the Group,\ndelivering training to our underwriting\nand claims teams. We now have nearly\n20 employees who have gained\nexternal cyber security certifications.\nWe have also added significant new\nfeatures to our Hiscox Cyber Insight\ntool to support underwriting decisions,\nincluding integration with Microsoft\nSecure Score, which allows us to\nstreamline questions for customers,\nand gain far greater insight into our\ncustomers’ security position.\nThroughout 2021, we worked closely\nwith customers and brokers in the UK\nto pay business interruption claims as\nquickly as possible. As of 31 January\n2022, 84% of the claims notified\nhad received an outcome and we\nexpect to maintain the current claim\nsettlement momentum to resolve the\noutstanding claims. The business\ninterruption claims in aggregate\ncontinue to settle within the actuarial\nbest estimate and in addition we\ncontinue to hold conservative\nmargin above the best estimate.\nThe UK business interruption book\nhas now been fully renewed with\nthe appropriate pandemic exclusion\nterms. We have maintained continuous\nand transparent dialogue with our\nreinsurance panel throughout this\nperiod and the reinsurance recoveries\nare now being collected.\nHiscox Retail\nHiscox Retail comprises our retail\nbusinesses around the world: Hiscox\nUK, Hiscox Europe, Hiscox USA\nand DirectAsia. In this segment, our\nspecialist knowledge and retail products\ndifferentiate us and our ongoing\ninvestment in the brand, distribution\nand technology reinforces our strong\nmarket position in an increasingly\ndigital world.\nHiscox Retail grew gross premiums\nwritten by 5.0%, or 1.5% in constant\ncurrency. Our commercial businesses,\nwhich constitute over three-quarters of\nthe Retail portfolio in gross premiums\nwritten terms, grew strongly across all\ngeographies. This was partially offset by\nslower momentum in personal lines and\nthe impact of deliberate portfolio actions\nin the US broker channel to reposition the\nbusiness towards smaller customers.\nWe have now exited over $100 million of\nthe non-core US business and, adjusting\nfor this, the Group Retail underlying\nportfolio grew by 6.8% on a constant\ncurrency basis.\nHiscox DPD business grew gross\npremiums written by 18.2% in constant\ncurrency to $694 million and now serves\nover 910,000 customers. In the USA\nour DPD business grew 25.5% and it\nnow represents almost two-thirds of\nour global DPD business.\nWith the more significant portfolio action\nlargely executed in the broker channel,\nthe headline growth rate is expected to\ntrend back towards the middle of the\n5% to 15% range for the Retail division\nin 2022.\nTogether with delivering robust growth,\nthe Retail business has achieved an\nunderlying combined ratio of 97.3%,\na 2.6 points improvement on prior\nyear, despite sustaining a net natural\ncatastrophe loss of $34 million net of\nreinstatement premiums. This underpins \n\nour confidence that we are on track to\nreturn to the 90%-95% combined ratio\nrange in 2023.\nHiscox UK\nHiscox UK provides commercial\ninsurance for small- and medium-sized\nbusinesses as well as personal lines\ncover, including high-value household,\nfine art and luxury motor.\nHiscox UK gross premiums written of\n$831.1 million (2020: $756.1 million)\nare up 9.9% or 2.9% on a constant\ncurrency basis. The business has\ndelivered a resilient performance,\ndespite the ongoing impact of Covid-19\non events and art exhibitions. The\ncommercial lines business is showing\nstrong growth of 9.9% in constant\ncurrency, boosted by rate improvements,\nmaintaining good retention rates and\nadding a net 45,000 customers. Rate\nincreases were achieved across the\nportfolio of commercial business led\nby cyber and professional indemnity\nlines. In our personal lines business,\nwhich includes art and private client\nand direct home, we have taken\ndeliberate action to rebalance the\nportfolio and non-renew some of\nthe higher commission business.\nAs a result, we have seen premiums\nreduce by 4.9% in constant currency,\nhowever, this action will improve our\nbusiness returns. The personal lines\nbusiness is expected to return to\ngrowth in 2022.\nThe non-natural catastrophe loss\nperformance has been better than\nthe prior year, with a particularly benign\nfirst half and return to a more normal\nclaims frequency in the second half.\nThe outlook for Hiscox UK is positive,\nwith opportunities to continue growing\nin our established niches such as\ntechnology, consultants and other\nemerging professions, where Hiscox’s\ncompetitive advantage is strong and\nthe opportunity is the most attractive.\nIn 2022, we expect to increase our\ninvestment in marketing to build affinity\nwith new audiences and accelerate\nthe ongoing positive growth of the\ndigital acquisition channel.\nHiscox Europe\nHiscox Europe provides personal lines\ncover, including high-value household,\nfine art and classic car; as well as\ncommercial insurance for small- and\nmedium-sized businesses.\nHiscox Europe delivered another\nstrong top-line performance, growing\ngross premiums written by 9.8% in\nconstant currency to $532.0 million\n(2020: $461.1 million). Rates are up\n4% on average, with double-digit\nrate increases in cyber, commercial\nproperty and traditional professional\nindemnity. A large share of the European\nbook renews in January and our\nunderwriters have been focusing on\nimproving rate adequacy in cyber.\nHiscox Germany, Benelux and Iberia,\nwhich together constitute around\n60% of Hiscox Europe’s gross\npremiums written, all grew top line\nat double-digit rate in constant\ncurrency, underpinned by healthy\ngrowth in commercial lines. Hiscox\nFrance, our second largest European\nbusiness, grew gross premiums\nwritten by 5.9% in constant currency\ndespite the impact of continuing\ncourse correction actions and\ndelivered strong new business\ngrowth. Ireland’s performance is up\n4.4%, as the business continues to\nundertake re-underwriting actions.\nEurope’s DPD business is relatively\nnascent with gross premiums written\nof just over $50 million and is growing\nwell. The digital opportunity in Europe is\nattractive with around 11 million SMEs\nin the markets where we operate and\nabout a half of these being our target\ncustomers. Hiscox Europe started its\ndirect digital business first in France,\nalmost a decade ago, followed by\nGermany. In June 2021, the Netherlands\nbecame the latest market to launch a\ndigital proposition. Europe DPD is an\nexcellent example of leveraging\ncross-market expertise and infrastructure\nwith the businesses using common\ntechnology and sharing product\nexpertise and marketing collateral.\nSimilar to the UK, the non-natural\ncatastrophe loss performance has\nbeen in line with expectations.\nThe roll-out of the new core technology\nis progressing well in Germany and\nFrance and we continue to enhance\nour data infrastructure to drive more\nsophisticated underwriting and pricing.\nHiscox USA\nHiscox USA focuses on underwriting\nsmall commercial risks with\ndistribution through brokers, partners\nand direct-to-consumer using both\ntraditional and digital trading models.\nOur aspiration remains to build America’s\nleading small business insurer.\nHiscox USA saw gross premiums\nwritten decline 3.9% to $879.2 million\n(2020: $914.6 million). This is in line with\nour expectations and previous guidance,\nas a result of planned reductions in\nour US broker channel. We have now\nexited over $100 million of large cyber,\nstand-alone general liability and other\nbroker channel business which is no \n\nonger within our appetite. This number\nis slightly higher than originally indicated,\nas we successfully accelerated our exit\nplans in certain portfolios. Excluding the\neffect of the course correction actions in\n2021, Hiscox USA underlying portfolio\ngrew by 9.2%.\nOur US digital partnerships and direct\nbusiness continues to deliver excellent\nperformance, with the top line growing\n25.5% to $424 million, continuing the\nexcellent growth rate achieved the\nyear before. In the first half of the\nyear US DPD grew at 30%, above\nour expectations, as the business\nbenefitted from the pent-up demand,\nwith the second half more in line with\nthe sustainable growth rate. We have\nadded around 90,000 customers in\n2021 with approximately 520,000 now\ninsured. Over 80% of our new customers\naccessed us digitally and over 90% of\nnew policies were auto-underwritten.\nThe US digital partnerships business\nis growing particularly well, as we are\nbenefitting from distribution relationships\nwith over 140 partners. As our business\nmatures and our brand strengthens,\nmore and more of our premium is\ncoming from larger producing partners,\nwhich contribute over a million of\nrevenue per annum to Hiscox. Over\nthe last three years the number of\nthese large partners almost doubled\nto 41 today. One example of such\npartnership is with Amazon. In August,\nHiscox joined a small network of\ninsurance providers to offer general\nliability insurance to businesses selling\nin Amazon’s marketplace through our\nexisting platform integrations with Bold\nPenguin and Simply Business.\nThe US DPD business started 2022\nwith continued strong growth, however,\nthis is expected to moderate through\nthe third quarter as we take deliberate\naction to limit new business to facilitate\nthe migration of our partners and existing\npolicyholders from our legacy policy\nadministration system to our modernised\nnext-generation platform. The new\ntechnology will offer a wider product\nportfolio, improved data collection,\nbetter underwriting analytics, upgraded\npricing capability and enhanced digital\nexperience for agents and customers.\nAn expanded business owners’ policy\n(BOP) and new cyber product are being\nlaunched as part of the new technology\nroll-out. The migration requires the\ndeliberate slowdown of growth, as we\nbed in new systems, appetite, products\nand rating, we expect to complete the\nprocess by the end of the year and begin\nto realise the full benefits of this multi-year\ntechnology investment as we head into\n2023. In 2022, we still expect full-year US\nDPD growth of between 15% to 20%.\nHiscox Asia\nDespite the challenges of Covid-19\nlockdowns in its two Asian markets\nalongside lower customer demand\nand aggressive discounting by\ncompetitors, DirectAsia delivered\ngross premiums written of $47.7 million\n(2020: $48.2 million), broadly in line\nwith 2020, as the fourth quarter saw\na recovery in revenues. DirectAsia\nlaunched brand enhancements\ncampaigns in Singapore and Thailand\nin November which will continue to\nrun throughout 2022. A reduced\nclaims frequency during the lockdowns\ntogether with the continued focus on\nprofitability has resulted in an improved\nunderwriting result.\nHiscox London Market\nHiscox London Market uses the\nglobal licences, distribution network\nand credit rating of Lloyd’s to insure\nclients throughout the world.\nHiscox London Market delivered a\nstrong performance in 2021, despite\nthe above-mean natural catastrophe\nlosses. Our underwriters have been\nworking tirelessly to deliver 13%\naverage portfolio rate growth in 2021,\nwith 16 of our 17 lines enjoying price\nrises and 11 lines benefitting from\ndouble-digit rate increases. Gross\npremiums written grew 5.6% to\n$1,171.4 million (2020: $1,109.7 million),\nas we continued to execute course\ncorrection actions in the property binder\nportfolios, and build a more balanced\nand resilient portfolio. Importantly, net\npremiums written grew by 9.5%, almost\ntwo times faster than top line, as the\nstrong rate momentum made retaining\nmore premium attractive. Hiscox\nLondon Market incurred $68.1 million\nof natural catastrophe losses in 2021\nnet of reinstatement premiums, mainly\nfrom Hurricane Ida, US tornadoes and\nStorm Uri. In contrast, non-catastrophe\nexperience in London Market was\nfavourable in the first three quarters of\nthe year, albeit several large cyber and\ncasualty losses occurred in the last two\nmonths of 2021.\nIt is particularly pleasing that Syndicate\n33, our flagship Lloyd’s syndicate,\nachieved a 82.5% combined ratio\nin 2021 calendar year, the best result\nsince 2016.\nWe are making good progress on digital\ndistribution and underwriting. Hiscox\nLondon Market’s digital strategy started\nin 2016 with the launch of FloodPlus\nwhich offers flood cover to commercial\nand residential properties in the USA\nacross 49 states as an alternative to the\nNational Flood Insurance Program (NFIP) \n\nproduct. In 2020, we further expanded\nour product range by launching FloodPlus\nExcess, offering additional cover in\nexcess of the NFIP. In the five years\nsince inception, FloodPlus has grown\nto form the majority of our $100 million\nflood book with 70,000 customers.\nTwenty-eight of our coverholder partners\nare seamlessly connected to our\nFloodPlus API service that uses advanced\nalgorithms to deliver bindable quotes in\nless than ten seconds and it is currently\naveraging 17,000 quotes per week.\nFloodPlus has advanced risk management\ncapability, allowing the control of\naggregate exposure to an extremely\ngranular level. This approach combined\nwith the ability to adjust prices in real time\nallows the generation of optimal spread\nof risk through the portfolio.\nIn 2020, we launched BindPlus Residential\nwhich offers private property insurance\nwith coverage for wind, earthquakes,\nwildfires and any other perils. In March\n2021 we extended our BindPlus\nAPI offering by launching BindPlus\nCommercial, supplementing the flood\nand the household products already\non the platform. Our plan for 2022 is to\nstreamline the platform technology and\nscale it to meet the growth ambition we\nhave for this business.\nIn February 2022, Helen Rose assumed\nher role as Chief Financial Officer of\nHiscox London Market and Hiscox\nSyndicates Limited. With more than a\ndecade in the insurance industry, Helen\nheld a number of roles with Aspen Group,\nincluding Insurance CFO, UK CFO and\nmost recently Chief Accounting Officer.\nHiscox Re & ILS\nGross premiums written increased\nby 8.7% to $807.8 million (2020:\n$743.4 million), however, excluding\nreinstatement premiums, premiums\nare down 0.4% year on year, as an\nimproved rating environment has been\noffset by re-underwriting actions in risk\nand pro-rata and aggregate books.\nImportantly, net premiums written grew\nby 42.3% as we deployed more capital\ninto an improving rating environment,\nwhich will build earnings power into\n2022. Hiscox Re & ILS made a profit of\n$98.5 million and achieved combined\nratio of 68.0%; this is an excellent result.\nHiscox Re & ILS business delivered\n$91.1 million of underwriting result, as a\nstrong non-catastrophe loss experience\nand favourable prior-year movements\nin our Japan and risk books more\nthan offset the elevated net natural\ncatastrophe losses of $122.0 million net\nof reinstatement premiums in the period.\nSince 2016, Hiscox Re & ILS has\nnon-renewed $378 million of\nnon-profitable business, having fully\nexited casualty and healthcare and\nsignificantly reduced risk exposure.\nIn property, we have reduced the\naggregate and bottom layer exposures\non North American catastrophe\nbusiness, most notably in Florida, and\nour Japanese typhoon exposure is 23%\nless than it was three years ago. In cyber,\nahead of the market, we exited some\nlow attaching risks to reduce exposures\nto increasing ransomware attacks while\nour core stop loss product continued\nto benefit directly from the significant\nimprovements in the underlying rate\nadequacy. In short, we have rebalanced\nthe book to align to our expertise and\ncreate more resilience while also driving\nrate improvement and margin expansion.\nOur ILS proposition has attracted new\ninflows, $190 million in 2021 and a\nfurther $217 million in January 2022.\nAUM stands at $1.6 billion at 1 January\n2022 ($1.4 billion at 31 December 2021),\nsupporting gross premiums written\ngrowth into 2022.\nMatthew Wilken joined the business as\nour new Chief Underwriting Officer in\nJanuary 2022. He joins from MS Amlin\nUnderwriting Ltd, where he held the Head\nof Reinsurance role. Matthew spent his\nearly career at Kiln Syndicate, Argo Re and\nAriel Re. With his underwriting acumen\nand a strong market reputation, we are\ndelighted to be further strengthening our\nunderwriting and executive teams.\nDividend, capital and\nliquidity management\nThe Group remains strongly capitalised\nagainst both regulatory and rating\nagency requirements. The Hiscox\nGroup Bermuda solvency capital\nrequirement (BSCR) ratio is estimated\nat 31 December 2021 at 200%, a\n13 percentage point improvement on\nthe prior year. The 11 percentage point\nimpact of the final stage of strengthening\nof the formula (an industry-wide basis\nstrengthening implemented by our\nGroup regulator, the Bermuda Monetary\nAuthority) was more than offset by a\ncombination of strong organic capital\ngeneration and 13 percentage points\nof benefit from proactive capital\nmanagement through loss portfolio\ntransfer (LPT) transactions executed in\nthe period. On an S&P basis we remain\nwell capitalised to maintain an A rating.\nS&P are in the process of updating their\ncapital model, as a result of this Hiscox is\nexpected to benefit from recognition of\nrisk diversification benefit in our business\nmodel and conservative reserve margin.\nDuring 2021 and into 2022, we have\ncontinued to proactively take action to\nlimit profit volatility from the back-book,\nin particular where we have decided\n\nPage 12:\n\nWe have built a good reputation as\na specialist insurer in our chosen\nsegments through a long-held strategy\nof balance between our big-ticket and\nRetail businesses – where greater\nvolatility in our big-ticket businesses\nhas typically been offset by more stable\nreturns in Retail – and a long-term\ninvestment in a differentiated brand\nthat customers value. This approach\nhas served us well, forming the\nbuilding blocks of our success, but\nover time that balance has evolved\nas the Retail businesses have grown\nconsistently while the big-ticket\n•Global risks through Lloyd’s platform\n•Heritage of deep technical expertise\n•Leading the market in applying\ntechnology to distribution\nand underwriting\n Delivers profits and capital\ngeneration for reinvestment\n•Small and micro businesses\n• Digitally traded, with\nlow-cost distribution and\nauto-underwriting\n•Partnership management capability\nthrough digital connectivity\n Significant structural\ngrowth opportunity\n•Specialist reinsurance capability\n•Holistic risk insights\n•Expert alternative capital manager\n Delivers underwriting profit\nand capital-light fee income\n•Focus on SMEs, not traded digitally\n•Leadership in specialist lines\n•Long-term broker partnerships\n Delivers stable profit generation\nand growth\nbusinesses have been subject to a more\ncyclical environment.\nAs the external environment evolves and\nnew opportunities emerge, how we think\nabout balance evolves too. In Hiscox\nLondon Market and Hiscox Re & ILS,\nwe have begun building out more\nbalanced portfolios with an emphasis\non leading the business we write.\nThis means Hiscox underwriting\nplays a greater role in risk selection\nand contractual terms, with greater\ncontrol over growth. Volatility exists in\nevery part of insurance, but through\na focus on building and maintaining\nbalanced portfolios we will create more\nmanageable volatility across the Group.\nBy thinking about balance in this way,\nwe believe we can maximise both the\nprofitable, cyclical growth and the\nstructural growth opportunities ahead.\nThe Hiscox Group comprises four\nbusinesses facing into different\nopportunities and challenges, but with\na common set of capabilities and the\ncapital support required for success.\nPeople\nand culture\nBrand\nUnderwriting\nTechnology\nCapital\nBalanced portfolio of large and complex risks SME and personal lines\n8 Hiscox Ltd Report and Accounts 2021\nHiscox London Market\nHiscox Retail: digital\nHiscox Retail: traditional",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000019_cash_flow",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow operating 373.4m, cash flow investing -81.9m, total cash flow 100.6m",
      "golden_context": "Page 171:\n\nConsolidated statement of cash flows\nFor the year ended 31 December 2022 Note\n2022\n$m\n2021\n$m\nProfit before tax 44.7 190.8\nAdjustments for:\nNet foreign exchange gains (30.6) (0.7)\nInterest and equity dividend income 7 (119.5) (88.1)\nInterest expense 10 48.1 50.8\nNet fair value losses on financial assets 7 254.2 57.9\nDepreciation, amortisation and impairment 9, 12, 13 60.0 58.3\nCharges in respect of share-based payments 9, 22 27.2 24.0\nRealised loss/(gain) on sale of subsidiary undertaking, intangible assets\nand property, plant and equipment 0.1 (6.5)\nChanges in operational assets and liabilities:\nInsurance and reinsurance contracts 141.6 (264.2)\nFinancial assets carried at fair value (128.3) (30.0)\nFinancial liabilities carried at fair value – (0.4)\nFinancial liabilities carried at amortised cost 0.9 0.7\nOther assets and liabilities 9.2 (6.7)\nCash paid to the pension fund 27 (13.5) –\nInterest received 109.1 90.5\nEquity dividends received 3.9 1.9\nInterest paid (31.3) (49.6)\nCurrent tax paid (2.4) (12.1)\nNet cash flows from operating activities 373.4 16.6\nCash flows from the sale of subsidiaries – 21.4\nPurchase of property, plant and equipment (20.9) (5.4)\nProceeds from the sale of property, plant and equipment 0.9 0.2\nPurchase of intangible assets (61.9) (53.5)\nProceeds from the sale of intangible assets – 0.7\nNet cash used in investing activities (81.9) (36.6)\nProceeds from the issue of ordinary shares 22 0.1 0.1\nProceeds from the issue of loan notes 17 279.1 –\nDistributions made to owners of the Company 22, 29 (119.8) (39.2)\nRepayment of borrowings 17 (336.6) (195.7)\nPrincipal elements of lease payments (13.7) (11.4)\nNet cash flows used in financing activities (190.9) (246.2)\nNet increase/(decrease) in cash and cash equivalents 100.6 (266.2)\nCash and cash equivalents at 1 January 1,300.7 1,577.2\nNet increase/(decrease) in cash and cash equivalents 100.6 (266.2)\nEffect of exchange rate fluctuations on cash and cash equivalents (50.4) (10.3)\nCash and cash equivalents at 31 December 21 1,350.9 1,300.7\nThe purchase, maturity and disposal of financial assets and liabilities, including derivatives, is part of the Group’s insurance\nactivities and is therefore classified as an operating cash flow.\nIncluded within cash and cash equivalents held by the Group are balances totalling $178 million (2021: $215 million) not\navailable for immediate use by the Group outside of the Lloyd’s syndicate within which they are held. Additionally, $89 million\n(2021: $7 million) is pledged cash held against Funds at Lloyd’s, and $0.5 million (2021: $0.4 million) held within trust funds\nagainst reinsurance arrangements.\nThe notes on pages 170 to 230 are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000019_company_type",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 3:\n\nHiscox Ltd Report and Accounts 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000019_key_financials",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "4,424.9m USD gross premiums written, 2,928.2m USD net premiums earned, profit 44.7m USD, EPS 12.1 USD ct, cash flow operating 373.4m, 36 USD cents ordinary divident, 701.2 USD cents net asset value per share, 608.2 USD cents tangible net asset value per share, 1.7% return on equity, cash flow investing -81.9m USD, total cash flow 100.6m USD",
      "golden_context": "Page 6:\n\n2022\n2021\n2020\n2019\n2018\n701.2\n739.8\n689.0\n768.2\n798.6\n2022\n2021\n2020\n2019\n2018\n608.2\n648.6\n601.5\n670.6\n726.2\n2022\n2021\n2020\n2019\n2018\n 1.7\n 8.1\n (11.8)\n 2.2\n 5.3\n2022\n2021\n2020\n2019\n2018\n4,424.9\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n2022\n2021\n2020\n2019\n2018\n2,928.2\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2022\n2021\n2020\n2019\n2018\n 44.7\n 190.8\n (268.5)\n 53.1\n 135.6\n2022\n2021\n2020\n2019\n2018\n 12.1\n 55.3\n (91.6)\n17.2\n 41.6\n2022\n2021\n2020\n2019\n2018\n36.0\n34.5\n0.0\n13.8\n41.9\n2022\n2021\n2020\n2019\n2018\n90.6\n93.2\n114.5\n106.8\n94.4\n4 Hiscox Ltd Report and Accounts 2022\nOur key performance indicators (KPIs)\nGross premiums written\n$4,424.9m\nNet premiums earned\n$2,928.2m\nProfit/(loss) before tax\n$44.7m\nCombined ratio\n90.6%\nBasic earnings/(loss)\nper share\n12.1¢\nOrdinary dividend\n36.0¢\nNet asset value per share\n701.2¢\nTangible net asset value\nper share\n608.2¢\nReturn on equity\n1.7%\nF",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000019_revenue",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "4.4bn gross, net premiums earned 2.9bn",
      "golden_context": "Page 6:\n\n2022\n2021\n2020\n2019\n2018\n701.2\n739.8\n689.0\n768.2\n798.6\n2022\n2021\n2020\n2019\n2018\n608.2\n648.6\n601.5\n670.6\n726.2\n2022\n2021\n2020\n2019\n2018\n 1.7\n 8.1\n (11.8)\n 2.2\n 5.3\n2022\n2021\n2020\n2019\n2018\n4,424.9\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n2022\n2021\n2020\n2019\n2018\n2,928.2\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2022\n2021\n2020\n2019\n2018\n 44.7\n 190.8\n (268.5)\n 53.1\n 135.6\n2022\n2021\n2020\n2019\n2018\n 12.1\n 55.3\n (91.6)\n17.2\n 41.6\n2022\n2021\n2020\n2019\n2018\n36.0\n34.5\n0.0\n13.8\n41.9\n2022\n2021\n2020\n2019\n2018\n90.6\n93.2\n114.5\n106.8\n94.4\n4 Hiscox Ltd Report and Accounts 2022\nOur key performance indicators (KPIs)\nGross premiums written\n$4,424.9m\nNet premiums earned\n$2,928.2m\nProfit/(loss) before tax\n$44.7m\nCombined ratio\n90.6%\nBasic earnings/(loss)\nper share\n12.1¢\nOrdinary dividend\n36.0¢\nNet asset value per share\n701.2¢\nTangible net asset value\nper share\n608.2¢\nReturn on equity\n1.7%\nF",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000019_revenue_growth",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "4.4bn gross premiums (4.3bn previous), net premiums earned 2.9bn (previous 2.9bn)",
      "golden_context": "Page 6:\n\n2022\n2021\n2020\n2019\n2018\n701.2\n739.8\n689.0\n768.2\n798.6\n2022\n2021\n2020\n2019\n2018\n608.2\n648.6\n601.5\n670.6\n726.2\n2022\n2021\n2020\n2019\n2018\n 1.7\n 8.1\n (11.8)\n 2.2\n 5.3\n2022\n2021\n2020\n2019\n2018\n4,424.9\n4,269.2\n4,033.1\n4,030.7\n3,778.3\n2022\n2021\n2020\n2019\n2018\n2,928.2\n2,919.9\n2,752.2\n2,635.6\n2,573.6\n2022\n2021\n2020\n2019\n2018\n 44.7\n 190.8\n (268.5)\n 53.1\n 135.6\n2022\n2021\n2020\n2019\n2018\n 12.1\n 55.3\n (91.6)\n17.2\n 41.6\n2022\n2021\n2020\n2019\n2018\n36.0\n34.5\n0.0\n13.8\n41.9\n2022\n2021\n2020\n2019\n2018\n90.6\n93.2\n114.5\n106.8\n94.4\n4 Hiscox Ltd Report and Accounts 2022\nOur key performance indicators (KPIs)\nGross premiums written\n$4,424.9m\nNet premiums earned\n$2,928.2m\nProfit/(loss) before tax\n$44.7m\nCombined ratio\n90.6%\nBasic earnings/(loss)\nper share\n12.1¢\nOrdinary dividend\n36.0¢\nNet asset value per share\n701.2¢\nTangible net asset value\nper share\n608.2¢\nReturn on equity\n1.7%\nF",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000019_segments",
      "report_id": "ID_000019",
      "company_name": "Hiscox",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail businesses, London Market, Bermuda & Hiscox Re & ILS, Corporate Center\n\nSmall commercial, reinsurance, property, specialty, art and private client, global casualty, marine and energy.\n\nA correct answer should mention all of these aspects, except for \"Corporate Center,\" which is optional.",
      "golden_context": "Page 8:\n\nOver the years, we have built a strong\nreputation as a specialist insurer in our\nchosen segments. In our big-ticket\nbusinesses – Hiscox London Market\nand Hiscox Re & ILS – we focus on\nbuilding balanced portfolios through\ncontrolled growth and with an emphasis\non leading the business we write.\n• Global risks through\nLloyd’s platform\n• Heritage of deep\ntechnical expertise\n• Leading the market in\napplying technology to\ndistribution and underwriting\n Delivers profits and capital\ngeneration for reinvestment\n• Small and micro businesses\n• Digitally traded, with\nlow-cost distribution and\nauto-underwriting\n• Partnership management\ncapability through\ndigital connectivity\n Significant structural\ngrowth opportunity\n• Specialist reinsurance\ncapability\n• Holistic risk insights\n• Expert alternative\ncapital manager\n Delivers underwriting profit\nand capital-light fee income\n• Focus on SMEs,\nnot traded digitally\n• Leadership in specialist lines\n• Long-term broker\npartnerships\n Delivers stable profit\ngeneration and growth\nIn Retail, where more stable returns\nhave typically offset the greater volatility\nof our big-ticket businesses, we focus\non building a differentiated brand and\nproduct offering that customers value.\nVolatility exists in every part of insurance,\nbut through a focus on building and\nPeople\nand culture\nBrand\nUnderwriting\nTechnology\nCapital\nBalanced portfolio of large and\ncomplex risks\nSME and personal lines\nHiscox London Market\nHiscox Retail: digital\nHiscox Retail: traditional\n\nPage 17:\n\nBig-ticket business\nHiscox Re & ILS\nHiscox London Market\nRetail business\nHiscox UK\nHiscox Europe\nHiscox Special Risks\nHiscox USA\nHiscox Asia\n\nPage 29:\n\nSmall\ncommercial\n\nReinsurance\n\nProperty\n\nArt and\nprivate client\n\nSpecialty\n\nGlobal\ncasualty\n\nMarine\nand energy",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000020_cash_flow",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 232.1, cash flow investing -34.2, financing -128.9, total cash flow 69.0",
      "golden_context": "Page 179:\n\nConsolidated statement of cash flows\nFor the year ended 31 December 2023 Note 2023\n$m\n2022\n(restated)\n$m\nProfit before tax 625.9 275.6\nAdjustments for:\nNet foreign exchange losses/(gains) 27.0 (54.7)\nInterest and equity dividend income 7 (237.0) (119.5)\nInterest expense 50.0 39.7\nNet fair value (gains)/losses on financial assets 7 (170.6) 254.2\nDepreciation, amortisation and impairment 8, 11, 12 77.1 60.0\nCharges in respect of share-based payments 19 43.2 27.2\nRealised gain/(loss) on sale of subsidiary undertaking,\nintangible assets and property plant and equipment (4.0) 0.1\nChanges in operational assets and liabilities:\nInsurance and reinsurance contracts 248.3 2.2\nFinancial assets carried at fair value (549.6) (128.3)\nFinancial liabilities carried at amortised cost 0.7 0.9\nOther assets and liabilities (15.6) (49.8)\nCash paid to the pension fund 24 (24.8) (13.5)\nInterest received 218.1 109.1\nEquity dividends received 1.5 3.9\nInterest paid (48.5) (31.3)\nTax paid (9.6) (2.4)\nNet cash flows from operating activities 232.1 373.4\nProceeds from sale of associate 9.5 –\nPurchase of property, plant and equipment (1.1) (20.9)\nProceeds from the sale of property, plant and equipment – 0.9\nPurchase of intangible assets 11 (42.6) (61.9)\nNet cash flows used in investing activities (34.2) (81.9)\nProceeds from the issue of ordinary shares 9.6 0.1\nProceeds from the issue of loan notes – 279.1\nDistributions made to owners of the Company (124.5) (119.8)\nRepayment of borrowings – (336.6)\nPrincipal elements of lease payments (14.0) (13.7)\nNet cash flows used in financing activities (128.9) (190.9)\nNet increase in cash and cash equivalents 69.0 100.6\nCash and cash equivalents at 1 January 1,350.9 1,300.7\nNet increase in cash and cash equivalents 69.0 100.6\nEffect of exchange rate fluctuations on cash and cash equivalents 17.1 (50.4)\nCash and cash equivalents at 31 December 18 1,437.0 1,350.9\nThe purchase, maturity and disposal of financial assets and liabilities, including derivatives, is part of the Group’s insurance\nactivities and is therefore classified as an operating cash flow.\nIncluded within cash and cash equivalents held by the Group are balances totalling $181 million (2022: $178 million) not\navailable for immediate use by the Group outside of the Lloyd’s Syndicate within which they are held. Additionally, $108 million\n(2022: $89 million) is pledged cash held against Funds at Lloyd’s, and $10.1 million (2022: $0.5 million) is held within trust funds\nagainst reinsurance arrangements.\nThe notes on pages 178 to 245 are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": "Revisit",
      "eval_correct_no_hallucination": "Revisit"
    },
    {
      "unique_key": "ID_000020_company_type",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "On many pages: Hiscox Ltd Report and Accounts 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000020_key_financials",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "insurance premium written 4598.2m USD, net insurance contract written premium 3555.8m USD net insurance contract written premium, profit before tax 625.9m USD, EPS 162.7 USD ct, NAV 951.1ct, 21.8% return on equity",
      "golden_context": "Page 8:\n\n2023\n2022‡\n951.1\n764.5\n2023\n2022‡\n4,598.2\n4,355.4\n2023\n2022‡\n3,555.8\n3,225.5\n2023\n2022‡\n625.9\n275.6\n2023\n2022‡\n162.7§\n73.8\n2023\n2022\n2021\n2020\n2019\n37.5\n36.0\n34.5\n0.0\n13.8\n2023\n2022‡\n89.8\n91.1\n2023\n2022‡\n21.8§\n10.1\n6 Hiscox Ltd Report and Accounts 2023\nChapter 3 72\nGovernance\nChapter 4 106\nRemuneration\nChapter 5 148\nShareholder\ninformation\nChapter 6 165\nFinancial\nsummary\nChapter 2 22\nA closer look\nChapter 1 6\nPerformance\nand purpose\nOur key performance indicators (KPIs)\nInsurance contract\nwritten premium*†\n$4,598.2m\nNet insurance contract\nwritten premium*†\n$3,555.8m\nProfit before tax\n$625.9m\nUndiscounted\ncombined ratio*†\n89.8%\nBasic earnings\nper share\n162.7¢§\nOrdinary dividend\n37.5¢\nNet asset value per share†\n951.1¢\nF\n\n\nReturn on equity†\n21.8%§",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000020_revenue",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "From 4.3bn to 4.5bn (insurance revenue).\n\nGross insurance written (4.6bn in 2023) is wrong! If the answer is 4.6bn, this is a wrong answer. Insurance revenue is not equal",
      "golden_context": "Page 176: \n\nConsolidated income statement\nFor the year ended 31 December 2023 Note 2023\n$m\n2022\n(restated)*\n$m\nInsurance revenue 4 4,483.2 4,273.3\nInsurance service expenses 4 (3,189.3) (3,485.9)\nInsurance service result before reinsurance contracts held 1,293.9 787.4\nAllocation of reinsurance premiums 4 (1,119.4) (1,264.8)\nAmounts recoverable from reinsurers for incurred claims 4 317.8 838.3\nNet expenses from reinsurance contracts held (801.6) (426.5)\nInsurance service result 4 492.3 360.9\nInvestment result 7 384.4 (187.3)\nNet finance (expenses)/income from insurance contracts (220.7) 213.7\nNet finance income/(expenses) from reinsurance contracts 81.0 (102.1)\nNet insurance finance (expenses)/income 7 (139.7) 111.6\nNet financial result 7 244.7 (75.7)\nOther income 8 91.1 42.3\nOther operational expenses 8 (125.5) (67.8)\nNet foreign exchange (losses)/gains (27.0) 54.7\nOther finance costs 9 (50.0) (39.7)\nShare of profit of associates after tax 13 0.3 0.9\nProfit before tax 625.9 275.6\nTax credit/(expense) 22 86.1 (21.7)\nProfit for the year (all attributable to owners of the Company) 712.0 253.9\nEarnings per share on profit attributable to owners of the Company\nBasic 25 206.1¢ 73.8¢\nDiluted 25 201.5¢ 72.7¢",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000020_revenue_growth",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "From 4.3bn to 4.5bn (insurance revenue).\n\nGross insurance written (4.6bn in 2023) is wrong! If the answer is 4.6bn, this is a wrong answer. Insurance revenue is not equal",
      "golden_context": "Page 176: \n\nConsolidated income statement\nFor the year ended 31 December 2023 Note 2023\n$m\n2022\n(restated)*\n$m\nInsurance revenue 4 4,483.2 4,273.3\nInsurance service expenses 4 (3,189.3) (3,485.9)\nInsurance service result before reinsurance contracts held 1,293.9 787.4\nAllocation of reinsurance premiums 4 (1,119.4) (1,264.8)\nAmounts recoverable from reinsurers for incurred claims 4 317.8 838.3\nNet expenses from reinsurance contracts held (801.6) (426.5)\nInsurance service result 4 492.3 360.9\nInvestment result 7 384.4 (187.3)\nNet finance (expenses)/income from insurance contracts (220.7) 213.7\nNet finance income/(expenses) from reinsurance contracts 81.0 (102.1)\nNet insurance finance (expenses)/income 7 (139.7) 111.6\nNet financial result 7 244.7 (75.7)\nOther income 8 91.1 42.3\nOther operational expenses 8 (125.5) (67.8)\nNet foreign exchange (losses)/gains (27.0) 54.7\nOther finance costs 9 (50.0) (39.7)\nShare of profit of associates after tax 13 0.3 0.9\nProfit before tax 625.9 275.6\nTax credit/(expense) 22 86.1 (21.7)\nProfit for the year (all attributable to owners of the Company) 712.0 253.9\nEarnings per share on profit attributable to owners of the Company\nBasic 25 206.1¢ 73.8¢\nDiluted 25 201.5¢ 72.7¢",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000020_segments",
      "report_id": "ID_000020",
      "company_name": "Hiscox",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail businesses, London Market, Bermuda & Hiscox Re & ILS, Corporate Center\n\nSmall commercial, reinsurance, property, specialty, art and private client, global casualty, marine and energy.\n\nMentioning \"Hiscox Retail\", \"Hiscox London Market\", \"Hiscox Re & ILS\", and \"Corporate Centre\" is enough for a correct answer.",
      "golden_context": "Page 208:\n\nThe Group’s operating segment reporting follows the organisational structure and management’s internal reporting systems,\nwhich form the basis for assessing the financial reporting performance of, and allocation of resources to, each business segment.\nThe Group’s four primary business segments are identified as follows:\nA Hiscox Retail brings together the results of the Group’s retail business divisions in the UK, Europe, USA and Asia. Hiscox UK\nand Hiscox Europe underwrite personal and commercial lines of business through Hiscox Insurance Company Limited and\nHiscox Société Anonyme (Hiscox SA), together with the fine art and non-US household insurance business written through\nSyndicate 33. Hiscox USA comprises commercial, property and specialty business written by Hiscox Insurance Company\nInc. and Syndicate 3624;\nA Hiscox London Market comprises the internationally traded insurance business written by the Group’s London-based\nunderwriters via Syndicate 33, including lines in property, marine and energy, casualty and other specialty insurance lines;\nAHiscox Re & ILS is the reinsurance division of the Hiscox Group, combining the underwriting platforms in Bermuda and\nLondon. The segment comprises the performance of Hiscox Insurance Company (Bermuda) Limited, excluding the internal\nquota share arrangements, with the reinsurance contracts written by Syndicate 33. In addition, the healthcare and casualty\nreinsurance contracts previously written in Bermuda on Syndicate capacity are also included. The segment also includes the\nperformance and fee income from the ILS funds, along with the gains and losses made as a result of the Group’s investment\nin the funds;\nA Corporate Centre comprises finance costs and administrative costs associated with Group management activities and\nintragroup borrowings, as well as all foreign exchange gains and losses.\nAll amounts reported on the following pages represent transactions with external parties only. In the normal course of trade,\nthe Group’s entities enter into various reinsurance arrangements with one another. The related results of these transactions are\neliminated on consolidation and are not included within the results of the segments. This is consistent with the information used by\nthe chief operating decision-maker when evaluating the results of the Group. Performance is measured based on each reportable\nsegment’s profit or loss before tax and combined ratio.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000021_cash_flow",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "cash flow operating 6.6bn, cash flow investing -2.5bn, cash flow financing -3.2, total cash flow 912m",
      "golden_context": "Page 215:\n\nConsolidated cash flow statement\nfor the year ended 31 December\nNote 2021 £ million 2020 £ million 2019\n£ million\nProfit before tax 6,902 1,226 4,393\nAdjustments for:\nChange in operating assets 52(A) (10,502) (18,650) (11,049)\nChange in operating liabilities 52(B) 4,954 35,737 3,642\nNon-cash and other items 52(C) 6,063 9,594 15,573\nTax paid (net) (796) (736) (1,278)\nNet cash provided by operating activities 6,621 27,171 11,281\nCash flows from investing activities\nPurchase of financial assets (8,984) (8,589) (9,730)\nProceeds from sale and maturity of financial assets 8,287 6,347 9,631\nPurchase of fixed assets (3,228) (2,901) (3,442)\nProceeds from sale of fixed assets 1,437 1,146 1,432\nAcquisition of businesses, net of cash acquired 52(D) (57) (3) (21)\nNet cash used in investing activities (2,545) (4,000) (2,130)\nCash flows from financing activities\nDividends paid to ordinary shareholders 43 (877)— (2,312)\nDistributions on other equity instruments (429) (453) (466)\nDividends paid to non-controlling interests (93) (41) (138)\nInterest paid on subordinated liabilities (1,303) (1,095) (1,178)\nProceeds from issue of subordinated liabilities 499— Proceeds from issue of other equity instruments— — 893\nProceeds from issue of ordinary shares 25 144 36\nShare buyback— — (1,095)\nRepayment of subordinated liabilities (1,056) (3,874) (818)\nRedemption of other equity instruments— — (1,481)\nNet cash used in financing activities (3,234) (5,319) (6,559)\nEffects of exchange rate changes on cash and cash equivalents 70 (196) Change in cash and cash equivalents 912 17,656 2,587\nCash and cash equivalents at beginning of year 75,467 57,811 55,224\nCash and cash equivalents at end of year 52(E) 76,379 75,467 57,811",
      "eval_correct_all_info_there": "Revisit",
      "eval_correct_no_hallucination": "Revisit"
    },
    {
      "unique_key": "ID_000021_company_type",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 345:\n\nThis document contains certain forward-looking statements\nwithin the meaning of Section 21E of the US Securities Exchange\nAct of 1934, as amended, and section 27A of the US Securities\nAct of 1933, as amended, with respect to Lloyds Banking Group\nplc together with its subsidiaries (the Group) and its current\ngoals and expectations. S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000021_key_financials",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "5.9bn GBP statutory profit after tax, 56.7% cost-income ratio, net interest income 11b GBP, 5bn GBP underlying other income, 2.00 ordinary dividend per share, 476bn GPB customer deposits",
      "golden_context": "Page 2:\n\n£5.9bn\nSignificantly higher statutory\nprofit after tax, benefitting\nfrom a net impairment credit\n2.00p\nProgressive and sustainable\ntotal ordinary dividend\nper share\n56.7%A\nCost:income ratio\nremains strong\n£3.4bn\nTotal capital return including\nordinary dividend and share\nbuyback of £2 billion\n>£16bn\nLent to first-time\nhomebuyers versus target\nof £10 billion\n+69pts\nMaintained record\nall-channel net\npromoter score",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000021_revenue",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "net interest income 11bn, previous 10.8bn; underlying other income 5.1bn, previous 4.5bn\n\nGroup results: 9.4bn in 2021, 10.7bn in 2020.",
      "golden_context": "Page 48:\n\nIncome statement – underlying basisA\n%\n4\n9\n(1)\n6\n2021 £m 2020 £m Change\nUnderlying net interest income 11,163 10,773 Underlying other income 5,060 4,515 12\nOperating lease depreciation (460) (884) 48\nNet income 15,763 14,404 Operating costs (7,630) (7,585) Remediation (1,300) (379)\nTotal costs (8,930) (7,964) (12)\nUnderlying profit before impairment 6,833 6,440 Underlying impairment credit (charge) 1,207 (4,247)\nUnderlying profit 8,040 2,193\nRestructuring (956) (521) (83)\nVolatility and other items (182) (361) 50\nPayment protection insurance provision— (85)\nStatutory profit before tax 6,902 1,226\nTax (expense) credit (1,017) 161\nStatutory profit after tax 5,885 1,387\nEarnings per share 7.5p 1.2p 6.3p\nDividends per share – ordinary 2.00p 0.57p 1.43p\nShare buyback 2.82p—\nShare buyback value £2.0bn—\nBanking net interest marginA 2.54% 2.52% 2bp\nAverage interest-earning banking assetsA £445bn £435bn Cost:income ratioA 56.7% 55.3% 1.4pp\nAsset quality ratioA (0.27%) 0.96%\nReturn on tangible equityA 13.8% 2.3% 11.5pp\n\nPage 51 (Group results):\n\n\n2021 2020 Change\n£m £m %\nNet interest income 9,366 10,749 (13)\nOther income 28,078 18,418 52\nTotal income1 37,444 29,167 28\nInsurance claims1 (21,120) (14,041) (50)\nTotal income, net of insurance claims 16,324 15,126 Operating expenses (10,800) (9,745) (11)\nImpairment credit (charge) 1,378 (4,155)\nProfit before tax 6,902 1,226\nTax (expense) credit (1,017) 161\nProfit for the period 5,885 1,387\nBalance sheet\nAt 31 Dec 2021 £m At 31 Dec 2020 £m Change\nAssets\nCash and balances at central banks 76,420 73,257 Financial assets at fair value through profit or loss2 206,771 191,169 Derivative financial instruments 22,051 29,613 (26)\nFinancial assets at amortised cost 517,156 514,994 Financial assets at fair value through other comprehensive income 28,137 27,603 Other assets 35,990 34,633 Total assets 886,525 871,269 Liabilities\nDeposits from banks3 7,647 12,698 (40)\nCustomer deposits3 476,344 450,651 Financial liabilities at fair value through profit or loss 23,123 22,646 Derivative financial instruments 18,060 27,313 (34)\nDebt securities in issue 71,552 87,397 (18)\nLiabilities arising from insurance and investment contracts 168,463 154,512 Other liabilities 55,076 52,378 Subordinated liabilities 13,108 14,261 Total liabilities 833,373 821,856 Total equity 53,152 49,413 Group results – statutory basis\nThe results below are prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards (IFRSs). The\nunderlying results are shown on page 46. A reconciliation between the statutory and underlying results is shown on page 66.\nIncome statement\n8\n%\n4\n8\n—\n2\n4\n2\n6\n2\n9\n5\n(8)\n1\n8\nTotal equity and liabilities 886,525 871,269 2",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000021_revenue_growth",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "net interest income 11bn, previous 10.8bn; underlying other income 5.1bn, previous 4.5bn\n\nGroup results: 9.4bn in 2021, 10.7bn in 2020.",
      "golden_context": "Page 48:\n\nIncome statement – underlying basisA\n%\n4\n9\n(1)\n6\n2021 £m 2020 £m Change\nUnderlying net interest income 11,163 10,773 Underlying other income 5,060 4,515 12\nOperating lease depreciation (460) (884) 48\nNet income 15,763 14,404 Operating costs (7,630) (7,585) Remediation (1,300) (379)\nTotal costs (8,930) (7,964) (12)\nUnderlying profit before impairment 6,833 6,440 Underlying impairment credit (charge) 1,207 (4,247)\nUnderlying profit 8,040 2,193\nRestructuring (956) (521) (83)\nVolatility and other items (182) (361) 50\nPayment protection insurance provision— (85)\nStatutory profit before tax 6,902 1,226\nTax (expense) credit (1,017) 161\nStatutory profit after tax 5,885 1,387\nEarnings per share 7.5p 1.2p 6.3p\nDividends per share – ordinary 2.00p 0.57p 1.43p\nShare buyback 2.82p—\nShare buyback value £2.0bn—\nBanking net interest marginA 2.54% 2.52% 2bp\nAverage interest-earning banking assetsA £445bn £435bn Cost:income ratioA 56.7% 55.3% 1.4pp\nAsset quality ratioA (0.27%) 0.96%\nReturn on tangible equityA 13.8% 2.3% 11.5pp\n\nPage 51 (Group results):\n\n\n2021 2020 Change\n£m £m %\nNet interest income 9,366 10,749 (13)\nOther income 28,078 18,418 52\nTotal income1 37,444 29,167 28\nInsurance claims1 (21,120) (14,041) (50)\nTotal income, net of insurance claims 16,324 15,126 Operating expenses (10,800) (9,745) (11)\nImpairment credit (charge) 1,378 (4,155)\nProfit before tax 6,902 1,226\nTax (expense) credit (1,017) 161\nProfit for the period 5,885 1,387\nBalance sheet\nAt 31 Dec 2021 £m At 31 Dec 2020 £m Change\nAssets\nCash and balances at central banks 76,420 73,257 Financial assets at fair value through profit or loss2 206,771 191,169 Derivative financial instruments 22,051 29,613 (26)\nFinancial assets at amortised cost 517,156 514,994 Financial assets at fair value through other comprehensive income 28,137 27,603 Other assets 35,990 34,633 Total assets 886,525 871,269 Liabilities\nDeposits from banks3 7,647 12,698 (40)\nCustomer deposits3 476,344 450,651 Financial liabilities at fair value through profit or loss 23,123 22,646 Derivative financial instruments 18,060 27,313 (34)\nDebt securities in issue 71,552 87,397 (18)\nLiabilities arising from insurance and investment contracts 168,463 154,512 Other liabilities 55,076 52,378 Subordinated liabilities 13,108 14,261 Total liabilities 833,373 821,856 Total equity 53,152 49,413 Group results – statutory basis\nThe results below are prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards (IFRSs). The\nunderlying results are shown on page 46. A reconciliation between the statutory and underlying results is shown on page 66.\nIncome statement\n8\n%\n4\n8\n—\n2\n4\n2\n6\n2\n9\n5\n(8)\n1\n8\nTotal equity and liabilities 886,525 871,269 2",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000021_segments",
      "report_id": "ID_000021",
      "company_name": "Lloyds",
      "year": 2021,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, Commercial Banking, Insurance and Wealth",
      "golden_context": "Page 24:\n\nOur business areas\nOur business areas are structured\naccording to the products and the\nservices we provide to best serve our\ncustomers’ financial needs. We have\nthree business areas:\nRetail\nCommercial Banking\nInsurance and Wealth\n2 Read more on our divisional financial\nperformance on pages 56 to 61\nOur products\nLending: mortgages, credit cards,\npersonal and business loans\nDeposit taking: current accounts,\nsavings accounts\nInsurance: home, motor and protection\nInvestment: pensions and investment\nproducts\nCommercial financing: lending,\ndebt capital markets, private equity\nRisk management: interest rate hedging,\ncurrency, liquidity",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000022_cash_flow",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Not given.",
      "golden_context": "Not given anywhere.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000022_company_type",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 5:\n\nLloyds Banking Group plc",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000022_key_financials",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "5555m GBP statutory profit after tax (9.0bn GBP underlying profit before impairment), 50.4% cost-income ratio, 7448m GBP underlying profit before tax, 13bn GBP underlying net interest income, 2.4 pence per share ordinary dividend, 14.1% common equity tier 1 ratio, 2782m GBP economic profit, group net income underlying basis in m GBP: 18,048, earnings per share 7.3 pence, banking net interest margin 2.94%, 452.0bn GBP average interest-earning banking assets, cost:income ratio 50.4%, asset quality ratio 0.32%, 13.5% return on tangible equity",
      "golden_context": "Page 2:\n\n£5.6bn\nStatutory profit after tax down 6 per\ncent, with higher net income, more than\noffset by higher impairment charges\n50.4%\nCost:income ratio remains strong\n£3.6bn\nTotal capital return including an\nordinary dividend of 2.40 pence per\nshare, up 20 per cent and share\nbuyback of up to £2 billion\n75%\nEmployee engagement index increased,\n6 points higher than the UK average\nAlternative performance measures\nTo supplement our statutory results, we\nuse a number of alternative performance\nmeasures. Unless otherwise stated,\ncommentary within the strategic report\nis given on an underlying basis. Further\ninformation is set out on page 67 of\nthe annual report and accounts.\n67.7pts\nAll-channel net promoter score\nremained strong\n19.8m\nDigitally active customers continued\nto increase as we remain the largest\ndigital bank in the UK",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000022_revenue",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "13bn, 11.2bn previous (both refer to underlying net interest income)",
      "golden_context": "Page 48:\n\nIncome statement – underlying basisA\n2022\n£m\n2021\n£m\nChange\n%\nUnderlying net interest income 13,172 11,163 18\nUnderlying other income 5,249 5,060 4\nOperating lease depreciation (373) (460) 19\nNet income 18,048 15,763 14\nOperating costs1 (8,835) (8,312) (6)\nRemediation (255) (1,300) 80\nTotal costs (9,090) (9,612) 5\nUnderlying profit before impairment 8,958 6,151 46\nUnderlying impairment (charge) credit1 (1,510) 1,385\nUnderlying profit 7,448 7,536 Restructuring1 (80) (452) 82\nVolatility and other items (440) (182)\nStatutory profit before tax 6,928 6,902\nTax expense (1,373) (1,017) (35)\nStatutory profit after tax 5,555 5,885 (6)\nEarnings per share 7.3p 7.5p (0.2)p\nDividends per share – ordinary 2.40p 2.00p 0.40p\nShare buyback value £2.0bn £2.0bn\nBanking net interest marginA 2.94% 2.54% 40bp\nAverage interest-earning banking assetsA £452.0bn £444.6bn 2\nCost:income ratioA,1 50.4% 61.0% (10.6)pp\nAsset quality ratioA,1 0.32% (0.31)%\nReturn on tangible equityA 13.5% 13.8% (0.3)pp",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000022_revenue_growth",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "13bn, 11.2bn previous (both refer to underlying net interest income)",
      "golden_context": "Page 48:\n\nIncome statement – underlying basisA\n2022\n£m\n2021\n£m\nChange\n%\nUnderlying net interest income 13,172 11,163 18\nUnderlying other income 5,249 5,060 4\nOperating lease depreciation (373) (460) 19\nNet income 18,048 15,763 14\nOperating costs1 (8,835) (8,312) (6)\nRemediation (255) (1,300) 80\nTotal costs (9,090) (9,612) 5\nUnderlying profit before impairment 8,958 6,151 46\nUnderlying impairment (charge) credit1 (1,510) 1,385\nUnderlying profit 7,448 7,536 Restructuring1 (80) (452) 82\nVolatility and other items (440) (182)\nStatutory profit before tax 6,928 6,902\nTax expense (1,373) (1,017) (35)\nStatutory profit after tax 5,555 5,885 (6)\nEarnings per share 7.3p 7.5p (0.2)p\nDividends per share – ordinary 2.40p 2.00p 0.40p\nShare buyback value £2.0bn £2.0bn\nBanking net interest marginA 2.94% 2.54% 40bp\nAverage interest-earning banking assetsA £452.0bn £444.6bn 2\nCost:income ratioA,1 50.4% 61.0% (10.6)pp\nAsset quality ratioA,1 0.32% (0.31)%\nReturn on tangible equityA 13.5% 13.8% (0.3)pp",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000022_segments",
      "report_id": "ID_000022",
      "company_name": "Lloyds",
      "year": 2022,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, Commercial Banking, Insurance, Pensions and Investments",
      "golden_context": "Page 5:\n\nOur competitive\nadvantages\nWe have a number of distinct\ncompetitive strengths that collectively\ndifferentiate our proposition.\nOur structure\nWe have three core divisions and, in\nline with our new strategy launched\nin 2022, we have restructured our\nbusiness to optimise synergies\nand efficiencies to best serve our\ncustomers’ needs.\nSee Group structure and ring-fencing\narrangements page 86 of the annual\nreport and accounts\nOur trusted brands\nOur products and services are made\navailable to our customers through\nour trusted brands, which enables\nus to address the needs of different\ncustomer segments more effectively.\nOur external drivers,\nrisks and opportunities\nWe’ve built our business and strategy\nto manage the fluctuations in our\nexternal environment and to adapt\nto ever-changing stakeholder needs.\nThis helps ensure the Group remains\nsustainable over the longer term\nand is able to manage risks and\nopportunities as they emerge.\nSee risk overview pages 38 to 43\nLeading UK customer franchise\nwith deep customer insight\nOur scale and reach across the UK means\nthat our franchise extends to 26 million\ncustomers with 19.8 million digitally active.\nExtensive customer data and analysis\nensures we can meet the needs of these\ncustomers more effectively.\nDedicated colleagues with\nstrong values\nWe have a highly engaged, customer-\nfocused, diverse workforce with\nsignificant expertise and experience.\nOperating at scale with cost discipline\nOur scale and efficiency enable us to\noperate more effectively.\nDifferentiated business model\nA unique customer proposition,\nserving all our customers’ banking and\ninsurance needs in one place through\na comprehensive product range.\nAll-channel distribution focus with\ndigital leadership and trusted brands\nOperating through a range of distribution\nchannels ensures our customers can\ninteract with us when and how they want.\nFinancial strength and\ndisciplined risk management\nWe have a strong capital position and\ncontinue to take a disciplined approach\nto risk, as reflected through the quality of\nour portfolio and underwriting criteria.\nRetail\nLloyds Banking Group plc\nInsurance, Pensions\nand Investments Commercial Banking\nConsumer\nlending\nConsumer\nrelationships\nInsurance,\npensions and\ninvestments\nSmall and\nmedium\nbusinesses\nCorporate and\ninstitutional\nbanking\n• Mortgages\n• Credit cards\n• Personal\nloans\n• Motor finance\n• Current\naccounts\n• Savings\naccounts\n• Mass affluent\nproposition\n• Home, motor\nand protection\ninsurance\n• Pensions\n• Investments\n• Business\nloans\n• Transactional\nbanking\n• Working\ncapital\n• Lending\n• Risk\nmanagement\n• Liquidity\n• Debt capital\nmarkets",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000023_cash_flow",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Not given.",
      "golden_context": "Not given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000023_company_type",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "On many pages.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000023_key_financials",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "5.5bn GBP statuory profit after tax, up 41%. \n\n15.8% return on tangible equity, \n\n18bn GBP net interest income, \n\n7,809m GBP underlying profit\n\n2.76 pence per share ordinary divident\n\n10.9% total shareholder return\n\n15.8 return on tangible equity.\n\n13.7% common equity tier 1 ratio (CET1)\n\n",
      "golden_context": "Page 12:\n\n£5.5bn\nStatutory profit after tax,\nup 41 per cent vs 2022\n15.8%\nReturn on tangible equity,\nabove guidance\n£3.8bn\nTotal capital return including an\nordinary dividend of 2.76 pence\nper share, up 15 per cent vs 2022\n40.1%\nWomen in senior roles, up\n2.4pp vs year end 2021\nAlternative performance measures\nTo supplement our statutory results, we use a\nnumber of alternative performance measures.\nUnless otherwise stated, commentary within the\nstrategic report is given on an underlying basis.\nFurther information is set out on page 67 of the\nannual report and accounts.\n08 Lloyds Banking Group plc Annual Review 2023\n68.2pts\nAll-channel net promoter\nscore, up 0.8 points vs 2022\n21.5m\nDigitally active users,\nup 9 per cent vs 2022\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000023_revenue",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "18bn net interest income (\"net income\" is also ok)",
      "golden_context": "Page 56:\n\n2023\n£m\n20221\n£m\nChange\nUnderlying net interest income 13,765 13,172 Underlying other income 5,123 4,666 Operating lease depreciation (956) (373)\nNet income 17,932 17,465 Operating costs (9,140) (8,672) Remediation (675) (255)\nTotal costs (9,815) (8,927) Underlying profit before impairment 8,117 8,538 Underlying impairment charge (308) (1,510) 80\nUnderlying profit 7,809 7,028 Restructuring (154) (80) (93)\nVolatility and other items (152) (2,166) 93\nStatutory profit before tax 7,503 4,782 57\nTax expense (1,985) (859)\nStatutory profit after tax 5,518 3,923 Earnings per share1 7.6p 4.9p 2.7 p\nDividends per share – ordinary 2.76p 2.40p Share buyback value £2.0bn £2.0bn\nBanking net interest marginA 3.11% 2.94% 17bp\nAverage interest-earning banking assetsA £453.3bn £452.0bn\nCost:income ratioA,1 54.7% 51.1% 3.6 pp\nAsset quality ratioA 0.07% 0.32 % (25)bp\nReturn on tangible equityA,1 15.8% 9.8% 6.0 pp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000023_revenue_growth",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "18bn net interest income (17.5bn previous) (calling it \"net income\" is also ok)",
      "golden_context": "Page 56:\n\n2023\n£m\n20221\n£m\nChange\nUnderlying net interest income 13,765 13,172 Underlying other income 5,123 4,666 Operating lease depreciation (956) (373)\nNet income 17,932 17,465 Operating costs (9,140) (8,672) Remediation (675) (255)\nTotal costs (9,815) (8,927) Underlying profit before impairment 8,117 8,538 Underlying impairment charge (308) (1,510) 80\nUnderlying profit 7,809 7,028 Restructuring (154) (80) (93)\nVolatility and other items (152) (2,166) 93\nStatutory profit before tax 7,503 4,782 57\nTax expense (1,985) (859)\nStatutory profit after tax 5,518 3,923 Earnings per share1 7.6p 4.9p 2.7 p\nDividends per share – ordinary 2.76p 2.40p Share buyback value £2.0bn £2.0bn\nBanking net interest marginA 3.11% 2.94% 17bp\nAverage interest-earning banking assetsA £453.3bn £452.0bn\nCost:income ratioA,1 54.7% 51.1% 3.6 pp\nAsset quality ratioA 0.07% 0.32 % (25)bp\nReturn on tangible equityA,1 15.8% 9.8% 6.0 pp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000023_segments",
      "report_id": "ID_000023",
      "company_name": "Lloyds",
      "year": 2023,
      "country": "GB",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, Commercial Banking, Insurance, Pensions and Investments",
      "golden_context": "Page 15:\n\nRetail\nConsumer\nlending\n•\nMortgages\n•\nCredit cards\n•\nPersonal loans\n•\nMotor finance\nConsumer\nrelationships\n•\nCurrent accounts\n•\nSavings accounts\n•\nMass affluent\nproposition\nLloyds\nBanking\nGroup plc\nInsurance,\nPensions and\nInvestments\nInsurance, pensions\nand investments\n•\n•\n•\nHome, motor and\nprotection insurance\nPensions\nInvestments\nCommercial\nBanking\nSmall and medium\nbusinesses\n•\n•\n•\nBusiness loans\nTransactional\nbanking\nWorking capital\nCorporate and\ninstitutional banking\n•\nLending and debt\ncapital markets\n•\nRisk management\n•\nCash liquidity",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000024_cash_flow",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "6.4bn free cash flow",
      "golden_context": "Page 6:\n\nBeauty & Personal Care\nTurnover €21.9bn\nWhat we stand for:\nTo be the most positive beauty business\nin the world for people and the planet\nOur largest categories:\nSkin cleansing, Hair care, Deodorants,\nSkin care\nSTRATEGIC REPORT – INTRODUCING UNILEVER\nFoods & Refreshment\nTurnover €20.0bn\nWhat we stand for:\nTo be a world-class force for good in food\nOur largest categories:\nIce cream, Savoury, Dressings, Tea\nHome Care\nTurnover €10.6bn\nWhat we stand for:\nMaking people's homes a better world,\nand our world a better home\nOur largest categories:\nFabric solutions, Home and hygiene\nRead more about our Divisions on pages 20 to 24\nTurnover Operating margin Dividends paid\n€52.4bn\n2020: €50.7bn\n16.6%\n2020: 16.4%\n€4.5bn\n2020: €4.3bn\nUnderlying\nsales growth(a)\n4.5%\n2020: 1.9%\nUnderlying\noperating margin(a) 18.4%\n2020: 18.5%\nFree cash flow(a)\n€6.4bn\n2020: €7.7bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000024_company_type",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 4:\n\nPages 105-198\nRunning a responsible\nand effective business\nOur full financial results\nand notes for the year\n68 Corporate governance 106 Statement of Directors' responsibilities\n78 Report of the Audit Committee 107 Independent Auditor's Report\n80 Report of the Corporate Responsibility Committee 114 Consolidated financial statements\n82 Report of the Nominating and Corporate\n118 Notes to the consolidated financial statements\nGovernance Committee\n167 Unilever PLC Company Accounts and notes\n84 Directors' Remuneration Report 176 Group Companies\n187 Shareholder information\n188 Additional Information for US Listing Purposes\nOnline About this Annual Report\nYou can find more information about Unilever online at www.unilever.com The Unilever Annual Report and Accounts 2021 (and the\nAdditional Information for US Listing Purposes) along with\nother relevant documents can be downloaded at\nwww.unilever.com/ara2021/downloads\nFor more on our sustainability commitments\nwww.unilever.com/planet-and-society\nUnilever Annual Report and\nAccounts 2021\nThis document is made up of the Strategic Report, the Governance Report,\nthe Financial Statements and Notes, and Additional Information for US\nListing Purposes.\nThe Unilever Group consists of Unilever PLC (PLC) together with the companies\nit controls. The terms 'Unilever', the 'Group', 'we', 'our' and 'us' refer to the Unilever\nGroup.\nOur Strategic Report on pages 2 to 66, contains information about us, how we\ncreate value and how we run our business. It includes our strategy, business\nmodel, market outlook and key performance indicators, as well as our approach to\nsustainability and risk. The Strategic Report is only part of the Annual Report and\nAccounts 2021. The Strategic Report has been approved by the Board and signed on\nits behalf by Ritva Sotamaa – Group Secretary.\nOur Governance Report on pages 67 to 104 contains detailed corporate governance\ninformation, our Committee reports and how we remunerate our Directors.\nOur Financial Statements and Notes are on pages 105 to 175.\nPages 1 to 187 constitute the Unilever Annual Report and Accounts 2021, which we\nmay also refer to as ‘this Annual Report and Accounts' throughout this document.\nThe Directors' Report of PLC on pages 67 to 83, 106 (Statement of Directors'\nresponsibilities), 136 (Dividends on ordinary capital), 149 to 155 (Treasury Risk\nManagement), 175 (Post balance sheet events) and 186 (Branch disclosure) has\nbeen approved by the PLC Board and signed on its behalf by Ritva Sotamaa – Group\nSecretary.\nPages 188 to 198 are included as Additional Information for US Listing Purposes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000024_key_financials",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "52.4bn EUR turnover, \n\n16.6% operating margin, \n\n18.4% underlying operating margin, \n\n6.4bn EUR free cash flow\n\n4.5% underlying sales growth\n\n4.5bn EUR dividends paid\n\n3.4% turnover growth\n\n6.4bn EUR free cash flow.\n\n10.3bn EUR cash flow from operating activities\n\n-3.2bn EUR net cash flow investing activities\n\n-7.1bn EUR net cash flow from financing activities",
      "golden_context": "Page 6:\n\nBeauty & Personal Care\nTurnover €21.9bn\nWhat we stand for:\nTo be the most positive beauty business\nin the world for people and the planet\nOur largest categories:\nSkin cleansing, Hair care, Deodorants,\nSkin care\nSTRATEGIC REPORT – INTRODUCING UNILEVER\nFoods & Refreshment\nTurnover €20.0bn\nWhat we stand for:\nTo be a world-class force for good in food\nOur largest categories:\nIce cream, Savoury, Dressings, Tea\nHome Care\nTurnover €10.6bn\nWhat we stand for:\nMaking people's homes a better world,\nand our world a better home\nOur largest categories:\nFabric solutions, Home and hygiene\nRead more about our Divisions on pages 20 to 24\nTurnover Operating margin Dividends paid\n€52.4bn\n2020: €50.7bn\n16.6%\n2020: 16.4%\n€4.5bn\n2020: €4.3bn\nUnderlying\nsales growth(a)\n4.5%\n2020: 1.9%\nUnderlying\noperating margin(a) 18.4%\n2020: 18.5%\nFree cash flow(a)\n€6.4bn\n2020: €7.7bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000024_revenue",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "52.4bn",
      "golden_context": "Page 6:\n\nBeauty & Personal Care\nTurnover €21.9bn\nWhat we stand for:\nTo be the most positive beauty business\nin the world for people and the planet\nOur largest categories:\nSkin cleansing, Hair care, Deodorants,\nSkin care\nSTRATEGIC REPORT – INTRODUCING UNILEVER\nFoods & Refreshment\nTurnover €20.0bn\nWhat we stand for:\nTo be a world-class force for good in food\nOur largest categories:\nIce cream, Savoury, Dressings, Tea\nHome Care\nTurnover €10.6bn\nWhat we stand for:\nMaking people's homes a better world,\nand our world a better home\nOur largest categories:\nFabric solutions, Home and hygiene\nRead more about our Divisions on pages 20 to 24\nTurnover Operating margin Dividends paid\n€52.4bn\n2020: €50.7bn\n16.6%\n2020: 16.4%\n€4.5bn\n2020: €4.3bn\nUnderlying\nsales growth(a)\n4.5%\n2020: 1.9%\nUnderlying\noperating margin(a) 18.4%\n2020: 18.5%\nFree cash flow(a)\n€6.4bn\n2020: €7.7bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000024_revenue_growth",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "52.4bn rev (50.7bn previous)",
      "golden_context": "Page 6:\n\nBeauty & Personal Care\nTurnover €21.9bn\nWhat we stand for:\nTo be the most positive beauty business\nin the world for people and the planet\nOur largest categories:\nSkin cleansing, Hair care, Deodorants,\nSkin care\nSTRATEGIC REPORT – INTRODUCING UNILEVER\nFoods & Refreshment\nTurnover €20.0bn\nWhat we stand for:\nTo be a world-class force for good in food\nOur largest categories:\nIce cream, Savoury, Dressings, Tea\nHome Care\nTurnover €10.6bn\nWhat we stand for:\nMaking people's homes a better world,\nand our world a better home\nOur largest categories:\nFabric solutions, Home and hygiene\nRead more about our Divisions on pages 20 to 24\nTurnover Operating margin Dividends paid\n€52.4bn\n2020: €50.7bn\n16.6%\n2020: 16.4%\n€4.5bn\n2020: €4.3bn\nUnderlying\nsales growth(a)\n4.5%\n2020: 1.9%\nUnderlying\noperating margin(a) 18.4%\n2020: 18.5%\nFree cash flow(a)\n€6.4bn\n2020: €7.7bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000024_segments",
      "report_id": "ID_000024",
      "company_name": "Unilever",
      "year": 2021,
      "country": "GB",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Hygiene, skin care, prestige beauty, functional nutrition, plant-based foods",
      "golden_context": "Page 11:\n\nOur strategy\nThe Unilever Compass is our strategy to deliver growth that\nis consistent, competitive, profitable and responsible.\nOur vision is to be the global leader\nin sustainable business. We will demonstrate\nhow our purpose-led, future-fit business\nmodel drives superior performance,\nconsistently delivering financial results\nin the top third of our industry.\nOur strategic choices and actions will help us fulfil our purpose and vision\nDevelop our portfolio into high growth spaces\nHygiene\nPages 15-16,\n20, 24, 37\nSkin care\nPages 15-16,\n20-21, 37\nPrestige beauty\nPages 15-16,\n21, 36-37\nFunctional\nnutrition\nPages 15-16,\n36-37\nPlant-based\nfoods\nPages 15,\n22, 37\nWin with our brands as a force for good, powered by purpose and innovation\nImprove the health\nof the planet\nPages 21, 23, 29-30\nImprove people's\nhealth, confidence\nand wellbeing\nPages 20-21, 31\nContribute to a\nfairer, more socially\ninclusive world\nPages 21, 30\nWin with\ndifferentiated science\nand technology\nPages 15, 20-24\nAccelerate in USA, India, China and key growth markets\nBuild further scale in USA,\nIndia and China\nPages 16, 36-37\nLeverage emerging\nmarket strength\nPages 16, 36-37\nLead in the channels of the future\nAccelerate pure-play and\nomnichannel eCommerce\nPages 16, 25-26\nDevelop eB2B business\nplatforms\nPages 16, 26\nDrive category leadership\nthrough shopper insight\nPages 25-26\nBuild a purpose-led, future-fit organisation and growth culture\nUnlock capacity through\nagility and digital\ntransformation\nPages 17-18\nBe a beacon for diversity,\ninclusion and value-based\nleadership\nPage 19\nBuild capability through\nlifelong learning\nPage 19",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000045_cash_flow",
      "report_id": "ID_000045",
      "company_name": "Mohawk Industries",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "1.3bn operating cash flow",
      "golden_context": "2021 2020 2019\n(In thousands)\nCash flows from operating activities:\nNet earnings including noncontrolling interests $ 1,033,548 515,727 744,571\nAdjustments to reconcile net earnings to net cash provided by operating activities:\nRestructuring 10,783 103,695 90,341\nDepreciation and amortization 591,711 607,507 576,452\nDeferred income taxes (4,929) 22,324 (107,842)\nLoss on disposal of property, plant and equipment 5,462 6,296 1,608\nStock-based compensation expense 25,651 19,697 23,620\nImpairment of net investment in a manufacturer and distributor of ceramic tile in\nChina — — 59,906\nChanges in operating assets and liabilities, net of effects of acquisitions:\nReceivables, net (207,047) (54,977) 81,953\nInventories (519,229) 357,516 7,212\nAccounts payable and accrued expenses 360,791 255,466 (52,065)\nOther assets and prepaid expenses (66,844) (55,084) 3,625\nOther liabilities 79,222 (8,328) (10,620)\nNet cash provided by operating activities 1,309,119 1,769,839 1,418,761\nCash flows from investing activities:\nAdditions to property, plant and equipment (676,120) (425,557) (545,462)\nAcquisitions, net of cash acquired (123,969) — (81,082)\nPurchases of short-term investments (1,211,239) (1,187,891) (581,500)\nRedemption of short-term investments 1,454,574 658,650 592,000\nNet cash used in investing activities (556,754) (954,798) (616,044)\nCash flows from financing activities:\nPayments on Senior Credit Facilities — (633,134) (488,978)\nProceeds from Senior Credit Facilities — 617,883 448,587\nPayments on commercial paper (570,362) (4,890,991) (15,168,820)\nProceeds from commercial paper 1,185,020 4,195,353 14,540,177\nProceeds from Floating Rate Notes — — 331,325\nPayment on Floating Rate Notes — — (331,325)\nProceeds from Senior Notes issuance — 1,062,240 —\nRepayments on Senior Notes (932,252) (326,904) —\nProceeds from Term Loan Facility — 500,000 —\nRepayment on Term Loan Facility — (500,000) —\nNet payments of other financing activities (11,656) (8,338) (13,071)\nDebt issuance costs — (11,413) (3,028)\nPurchase of Mohawk common stock (900,334) (188,625) (100,080)\nChange in outstanding checks in excess of cash (2,641) (4,256) (4,664)\nNet cash used in financing activities (1,232,225) (188,185) (789,877)\nEffect of exchange rate changes on cash and cash equivalents (19,870) 6,984 2,895\nNet change in cash and cash equivalents (499,730) 633,840 15,735\nCash and cash equivalents, beginning of year 768,625 134,785 119,050\nCash and cash equivalents, end of year $ 268,895 768,625 134,785 ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000045_company_type",
      "report_id": "ID_000045",
      "company_name": "Mohawk Industries",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Jeffrey S. Lorberbaum\nChairman and\nChief Executive Officer\nMohawk Industries, Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000045_revenue",
      "report_id": "ID_000045",
      "company_name": "Mohawk Industries",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "11.2bn",
      "golden_context": "In 2021, we achieved our highest annual net sales,\n$11.2 billion, and each of our segments recorded their\nhighest annual net sales.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000045_revenue_growth",
      "report_id": "ID_000045",
      "company_name": "Mohawk Industries",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "11.2bn, previous 9.6bn",
      "golden_context": "NET SALES\nin millions\n2019\n$9,971\n2020\n$9,552\n2021\n$11,201",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000045_segments",
      "report_id": "ID_000045",
      "company_name": "Mohawk Industries",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Flooring North America, Global Ceramic, Florring Rest of World",
      "golden_context": "2021 SALES BY BUSINESS SEGMENT\n37% Flooring North America\n35% Global Ceramic\n28% Flooring Rest of World",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_cash_flow",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "669153 from operating activities, -625344 from investing activities, 194348 from financing, 240728 total cash flow",
      "golden_context": "2022 2021 2020\n(In thousands)\nCash flows from operating activities:\nNet earnings including noncontrolling interests $ 25,783 1,033,548 515,727\nAdjustments to reconcile net earnings to net cash provided by operating activities:\nRestructuring 47,716 10,783 103,695\nImpairment of goodwill and indefinite-lived intangibles 695,771 — —\nDepreciation and amortization 595,464 591,711 607,507\nDeferred income taxes (51,098) (4,929) 22,324\nLoss on disposal of property, plant and equipment 697 5,462 6,296\nStock-based compensation expense 22,409 25,651 19,697\nChanges in operating assets and liabilities, net of effects of acquisitions:\nReceivables, net (84,381) (207,047) (54,977)\nInventories (409,601) (519,229) 357,516\nAccounts payable and accrued expenses (94,137) 360,791 255,466\nOther assets and prepaid expenses (49,552) (66,844) (55,084)\nOther liabilities (29,918) 79,222 (8,328)\n Net cash provided by operating activities 669,153 1,309,119 1,769,839\nCash flows from investing activities:\nAdditions to property, plant and equipment (580,742) (676,120) (425,557)\nAcquisitions, net of cash acquired (209,602) (123,969) —\nPurchases of short-term investments (2,481,000) (1,211,239) (1,187,891)\nRedemption of short-term investments 2,646,000 1,454,574 658,650\n Net cash used in investing activities (625,344) (556,754) (954,798)\nCash flows from financing activities:\nPayments on Senior Credit Facilities (5,000) — (633,134)\nProceeds from Senior Credit Facilities 5,000 — 617,883\nPayments on commercial paper (19,412,925) (570,362) (4,890,991)\nProceeds from commercial paper 19,633,142 1,185,020 4,195,353\nProceeds from Senior Notes issuance — — 1,062,240\nRepayments on Senior Notes (600,000) (932,252) (326,904)\nProceeds from Term Loan Facility 907,952 — 500,000\nPayments on Term Loan Facility — — (500,000)\nNet payments of other financing activities (23,455) (11,656) (8,338)\nDebt issuance costs (2,543) — (11,413)\nPurchase of Mohawk common stock (307,572) (900,334) (188,625)\nChange in outstanding checks in excess of cash (251) (2,641) (4,256)\n Net cash provided by (used in) financing activities 194,348 (1,232,225) (188,185)\nEffect of exchange rate changes on cash and cash equivalents 2,571 (19,870) 6,984\n Net change in cash and cash equivalents 240,728 (499,730) 633,840\nCash and cash equivalents, beginning of year 268,895 768,625 134,785\nCash and cash equivalents, end of year $  509,623 268,895 768,625",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_company_type",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Jeffrey S. Lorberbaum\nChairman and\nChief Executive Officer\nMohawk Industries, Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_key_financials",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "For the full year of 2022, Mohawk’s net sales were\n$11.7 billion, up approximately 4.8% as reported or 8.8%\non a constant days and currency basis, and our diluted\nadjusted EPS for the year was $12.85. ",
      "golden_context": "For the full year of 2022, Mohawk’s net sales were\n$11.7 billion. Diluted\nadjusted EPS $12.85. ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_revenue",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "For the full year of 2022, Mohawk’s net sales were\n$11.7 billion",
      "golden_context": "11.7bn",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_revenue_growth",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "up approximately 4.8% as reported",
      "golden_context": "4.8%",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000046_segments",
      "report_id": "ID_000046",
      "company_name": "Mohawk Industries",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Global Ceramic, Flooring NA, Flooring RoW",
      "golden_context": "Global Ceramic\nMohawk is the world’s largest\nproducer of ceramic tile, with\nmanufacturing operations in\nNorth America, South America\nand Europe facilitating sales in\napproximately 160 countries. The\nsegment manufactures a variety\nof products for residential and\ncommercial applications, including\nfloor and wall tiles; stone floors;\nexterior pavers, cladding and\nroofing systems; porcelain slabs;\nand quartz and stone countertops.\nFlooring North America\nIn the North American market,\nMohawk is a leading producer of\nbroadloom carpet, carpet tile, carpet\ncushion, rugs, premium waterproof\nlaminate, luxury vinyl tile, sheet\nvinyl, revolutionary waterproof\nwood flooring and installation trim\nand accessories. The Company’s\ncomprehensive product offering\nsupports the needs of residential\nand commercial customers across\nall sales channels.\nFlooring Rest of the World\nWith manufacturing operations\nin Europe, Oceania, Asia and\nSouth America, the segment\nhas become a global leader in\npremium laminate, luxury vinyl\ntile, sheet vinyl, carpet, carpet\ntile and wood flooring with sales\nin approximately 130 countries.\nIn the European market, the\nsegment is also a leading\nproducer of panels (chipboards,\nmedium density fiber board,\nmelamine-faced panels and\nhigh-pressure laminate) and\npolyurethane insulation products.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_cash_flow",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "716m free cash flow",
      "golden_context": "For the year, Mohawk’s net sales were approximately\n$11.1 billion, down 5.1% as reported or 7.7% on a\nconstant basis, and our diluted adjusted earnings\nper share (EPS) was $9.19, as reduced market \nvolumes led to low industry utilization rates and\naggressive competition in the marketplace. We\nclosed the year with debt leverage of 1.5 times,\nfree cash flow of $716 million and available liquidity\nof $1.9 billion.1",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_company_type",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Jeffrey S. Lorberbaum\nChairman and Chief Executive Officer — Mohawk Industries, Inc",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_key_financials",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 11.1bn, EPS 9.19, 716m free cash flow",
      "golden_context": "For the year, Mohawk’s net sales were approximately\n$11.1 billion, down 5.1% as reported or 7.7% on a\nconstant basis, and our diluted adjusted earnings\nper share (EPS) was $9.19, as reduced market \nvolumes led to low industry utilization rates and\naggressive competition in the marketplace. We\nclosed the year with debt leverage of 1.5 times,\nfree cash flow of $716 million and available liquidity\nof $1.9 billion.1",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_revenue",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "11.1bn",
      "golden_context": "For the year, Mohawk’s net sales were approximately\n$11.1 billion, down 5.1% as reported or 7.7% on a\nconstant basis, and our diluted adjusted earnings\nper share (EPS) was $9.19, as reduced market \nvolumes led to low industry utilization rates and\naggressive competition in the marketplace. We\nclosed the year with debt leverage of 1.5 times,\nfree cash flow of $716 million and available liquidity\nof $1.9 billion.1",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_revenue_growth",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "11.1bn, down 5.1 as reported, 7.7% on a constant basis",
      "golden_context": "For the year, Mohawk’s net sales were approximately\n$11.1 billion, down 5.1% as reported or 7.7% on a\nconstant basis, and our diluted adjusted earnings\nper share (EPS) was $9.19, as reduced market \nvolumes led to low industry utilization rates and\naggressive competition in the marketplace. We\nclosed the year with debt leverage of 1.5 times,\nfree cash flow of $716 million and available liquidity\nof $1.9 billion.1",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000047_segments",
      "report_id": "ID_000047",
      "company_name": "Mohawk Industries",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Global Ceramic, Flooring NA, Flooring RoW",
      "golden_context": "2023 Sales by Business Segment\n39%\nGlobal\nCeramic\n34%\nFlooring\nNorth America\n27%\nFlooring\nRest of\nthe World",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_cash_flow",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "5.6bn cash from operating activities.",
      "golden_context": "Net cash\nprovided by operating activities was $5.6 billion in fiscal 2021 compared to $5.5 billion in fiscal 2020 and\n$5.6 billion in fiscal 2019. ",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_company_type",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Rosalind G. Brewer\nChief Executive Officer,\nWalgreens Boots Alliance, Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_key_financials",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "132.5bn revenue",
      "golden_context": "Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United\nStates (“U.S.”) and Europe with sales of $132.5 billion in the fiscal year ended August 31, 2021.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_revenue",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "132.5bn revenue",
      "golden_context": "Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United\nStates (“U.S.”) and Europe with sales of $132.5 billion in the fiscal year ended August 31, 2021.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_revenue_growth",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "43.6% in international segment. Pharmacy increased 8.7%. Retail increased 5.5%\nOR\n132509 vs 121982 in 2020\nOR\n8.6%",
      "golden_context": "EXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2021, 2020 and 2019:\n(in millions, except per share amounts)\n2021 2020 2019\nSales $ 132,509 $ 121,982 $ 120,074\nGross profit 28,067 26,078 28,159\nSelling, general and administrative expenses 24,586 25,436 23,557\nEquity earnings (loss) in AmerisourceBergen (1,139) 341 164\nOperating income 2,342 982 4,766\nAdjusted operating income (Non-GAAP measure)1 5,117 4,730 6,481\nEarnings (loss) before interest and income tax provision 2,900 1,060 5,009\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) 1,994 180 3,816\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 4,256 3,772 5,169\nDiluted net earnings (loss) per common share – continuing\noperations (GAAP) 2.30 0.20 4.13\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 4.91 4.28 5.60\nPercentage increases (decreases)\n2021 2020 2019\nSales 8.6 1.6 6.1\nGross profit 7.6 (7.4) (2.3)\nSelling, general and administrative expenses (3.3) 8.0 1.8\nOperating income 138.4 (79.4) (18.7)\nAdjusted operating income (Non-GAAP measure)1 8.2 (27.0) (9.7)\nEarnings before interest and income tax provision 173.7 (78.8) (10.5)\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) NM (95.3) (18.6)\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 12.8 (27.0) (7.1)\nDiluted net earnings per common share – continuing operations\n(GAAP) NM (95.1) (12.3)\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 14.6 (23.5) 0.1\n\nThe International segment’s sales for fiscal 2021 increased 43.6% to $20.5 billion. The favorable impact of\ncurrency translation on sales was 9.5 percentage points. Comparable sales in constant currency, which excludes\nsales from the Company’s pharmaceutical wholesale combined business in Germany, increased 3.9 percent\nmainly due to higher sales in Boots UK as well as higher sales in Latin America and Ireland. Following the\nadverse impact of COVID-19 restrictions in the UK during the first half of the year, sales in the second half\nrecovered, reflecting increased store foot traffic.\nPharmacy sales increased 8.7% in fiscal 2021 and represented 18.6% of the segment’s sales. The favorable\nimpact of currency translation on pharmacy sales was 6.8 percentage points. Comparable pharmacy sales in\nconstant currency increased 6.7 percent primarily in the UK due to stronger pharmacy services (notably\nCOVID-19 testing) and favorable National Health Service (“NHS”) reimbursement levels, partially offset by\nlower prescription volume in the UK. In addition, Latin America showed strong pharmacy volume growth.\nRetail sales increased 5.5% for fiscal 2021 and represented 30.4% of the segment’s sales. The favorable impact\nof currency translation on retail sales was 6.5 percentage points. Comparable retail sales in constant currency\nincreased 2.0 percent reflecting higher retail sales in the UK and Ireland, including a recovery during the second\nhalf of the year, as COVID-19 restrictions eased.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000048_segments",
      "report_id": "ID_000048",
      "company_name": "Walgreens Boots Alliance",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "US & International",
      "golden_context": "Segments\nThe Company’s operations are conducted through two reportable segments:\n• United States; and\n• International",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_cash_flow",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "3.9bn",
      "golden_context": "Net cash provided by operating activities was $3.9 billion in fiscal 2022 compared to $5.6 billion in fiscal 2021\nand $5.5 billion in fiscal 2020. The decrease in cash provided by operating activities in fiscal 2022 compared to\nfiscal 2021, reflects lower cash inflows from inventories, accounts payable, accrued expenses and other\nliabilities, partially offset by higher cash inflows from accounts receivable.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_company_type",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Rosalind G. Brewer\nChief Executive Officer,\nWalgreens Boots Alliance, Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_key_financials",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "132.7bn",
      "golden_context": "Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United\nStates (“U.S.”) and Europe with sales of $132.7 billion in fiscal 2022.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_revenue",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "132703 revenue",
      "golden_context": "EXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2022, 2021 and 2020:\n(in millions, except per share amounts)\n2022 2021 2020\nSales $ 132,703 $ 132,509 $ 121,982\nGross profit 28,265 28,067 26,078\nSelling, general and administrative expenses 27,295 24,586 25,436\nEquity earnings (loss) in AmerisourceBergen 418 (1,139) 341\nOperating income 1,387 2,342 982\nAdjusted operating income (Non-GAAP measure)1 5,133 5,117 4,730\nEarnings before interest and income tax provision 4,385 2,900 1,060\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) 4,337 1,994 180\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 4,360 4,256 3,772\nDiluted net earnings per common share – continuing operations\n(GAAP) 5.01 2.30 0.20\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 5.04 4.91 4.28\nPercentage increases (decreases)\n2022 2021 2020\nSales 0.1 8.6 1.6\nGross profit 0.7 7.6 (7.4)\nSelling, general and administrative expenses 11.0 (3.3) 8.0\nOperating income (40.8) 138.4 (79.4)\nAdjusted operating income (Non-GAAP measure)1 0.3 8.2 (27.0)\nEarnings before interest and income tax provision 51.2 173.7 (78.8)\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) 117.5 NM (95.3)\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 2.5 12.8 (27.0)\nDiluted net earnings per common share – continuing operations\n(GAAP) 117.6 NM (95.1)\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 2.5 14.6 (23.5)",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_revenue_growth",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "132703, 132509 previous. 0.1% growth",
      "golden_context": "EXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2022, 2021 and 2020:\n(in millions, except per share amounts)\n2022 2021 2020\nSales $ 132,703 $ 132,509 $ 121,982\nGross profit 28,265 28,067 26,078\nSelling, general and administrative expenses 27,295 24,586 25,436\nEquity earnings (loss) in AmerisourceBergen 418 (1,139) 341\nOperating income 1,387 2,342 982\nAdjusted operating income (Non-GAAP measure)1 5,133 5,117 4,730\nEarnings before interest and income tax provision 4,385 2,900 1,060\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) 4,337 1,994 180\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 4,360 4,256 3,772\nDiluted net earnings per common share – continuing operations\n(GAAP) 5.01 2.30 0.20\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 5.04 4.91 4.28\nPercentage increases (decreases)\n2022 2021 2020\nSales 0.1 8.6 1.6\nGross profit 0.7 7.6 (7.4)\nSelling, general and administrative expenses 11.0 (3.3) 8.0\nOperating income (40.8) 138.4 (79.4)\nAdjusted operating income (Non-GAAP measure)1 0.3 8.2 (27.0)\nEarnings before interest and income tax provision 51.2 173.7 (78.8)\nNet earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) 117.5 NM (95.3)\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 2.5 12.8 (27.0)\nDiluted net earnings per common share – continuing operations\n(GAAP) 117.6 NM (95.1)\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 2.5 14.6 (23.5)",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000049_segments",
      "report_id": "ID_000049",
      "company_name": "Walgreens Boots Alliance",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "US Retail Pharmacy, International, US Healthcare",
      "golden_context": "Segments\nThe Company’s operations are conducted through three reportable segments:\n• U.S. Retail Pharmacy,\n• International, and\n• U.S. Healthcare.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000050_cash_flow",
      "report_id": "ID_000050",
      "company_name": "Walgreens Boots Alliance",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "2.3bn",
      "golden_context": "Cash flows from operating activities\nNet cash provided by operating activities was $2.3 billion, $3.9 billion and $5.6 billion in fiscal 2023, 2022 and\n2021, respectively. T",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000050_company_type",
      "report_id": "ID_000050",
      "company_name": "Walgreens Boots Alliance",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Timothy C. Wentworth\nChief Executive Officer,\nWalgreens Boots Alliance, Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000050_key_financials",
      "report_id": "ID_000050",
      "company_name": "Walgreens Boots Alliance",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "139.1bn",
      "golden_context": "Walgreens Boots Alliance is one of the largest retail pharmacy, health and daily living destinations across the\nUnited States (“U.S.”) and Europe with sales of $139.1 billion in fiscal 2023.\n\nEXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2023, 2022 and 2021:\n(in millions, except per share amounts)\n2023 2022 2021\nSales $ 139,081 $ 132,703 $ 132,509\nGross profit 27,072 28,265 28,067\nSelling, general and administrative expenses 34,205 27,295 24,586\nEquity earnings (loss) in Cencora 252 418 (1,139)\nOperating (loss) income (6,882) 1,387 2,342\nAdjusted operating income (Non-GAAP measure)1 3,871 5,133 5,117\n(Loss) earnings before interest and income tax (benefit) provision (4,839) 4,385 2,900\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) (3,080) 4,337 1,994\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 3,439 4,360 4,256\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) (3.57) 5.01 2.30\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 3.98 5.04 4.91\n\nPercentage increases (decreases)\n2023 2022 2021\nSales 4.8 0.1 8.6\nGross profit (4.2) 0.7 7.6\nSelling, general and administrative expenses 25.3 11.0 (3.3)\nOperating (loss) income NM (40.8) 138.4\nAdjusted operating income (Non-GAAP measure)–1 (24.6) 0.3 8.2\n(Loss) earnings before interest and income tax provision NM 51.2 173.7\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) NM 117.5 NM\nAdjusted net earnings attributable to Walgreens Boots Alliance,\nInc. – continuing operations (Non-GAAP measure)1 (21.1) 2.5 12.8\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) NM 117.6 NM\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure) 1 (20.9) 2.5 14.6",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000050_revenue",
      "report_id": "ID_000050",
      "company_name": "Walgreens Boots Alliance",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "139.1bn",
      "golden_context": "Walgreens Boots Alliance is one of the largest retail pharmacy, health and daily living destinations across the\nUnited States (“U.S.”) and Europe with sales of $139.1 billion in fiscal 2023.\n\nEXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2023, 2022 and 2021:\n(in millions, except per share amounts)\n2023 2022 2021\nSales $ 139,081 $ 132,703 $ 132,509\nGross profit 27,072 28,265 28,067\nSelling, general and administrative expenses 34,205 27,295 24,586\nEquity earnings (loss) in Cencora 252 418 (1,139)\nOperating (loss) income (6,882) 1,387 2,342\nAdjusted operating income (Non-GAAP measure)1 3,871 5,133 5,117\n(Loss) earnings before interest and income tax (benefit) provision (4,839) 4,385 2,900\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) (3,080) 4,337 1,994\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 3,439 4,360 4,256\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) (3.57) 5.01 2.30\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 3.98 5.04 4.91\n\nPercentage increases (decreases)\n2023 2022 2021\nSales 4.8 0.1 8.6\nGross profit (4.2) 0.7 7.6\nSelling, general and administrative expenses 25.3 11.0 (3.3)\nOperating (loss) income NM (40.8) 138.4\nAdjusted operating income (Non-GAAP measure)–1 (24.6) 0.3 8.2\n(Loss) earnings before interest and income tax provision NM 51.2 173.7\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) NM 117.5 NM\nAdjusted net earnings attributable to Walgreens Boots Alliance,\nInc. – continuing operations (Non-GAAP measure)1 (21.1) 2.5 12.8\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) NM 117.6 NM\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure) 1 (20.9) 2.5 14.6",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000050_revenue_growth",
      "report_id": "ID_000050",
      "company_name": "Walgreens Boots Alliance",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "139.1bn, previous 132703",
      "golden_context": "Walgreens Boots Alliance is one of the largest retail pharmacy, health and daily living destinations across the\nUnited States (“U.S.”) and Europe with sales of $139.1 billion in fiscal 2023.\n\nEXECUTIVE SUMMARY\nThe following table presents certain key financial statistics for the Company for fiscal 2023, 2022 and 2021:\n(in millions, except per share amounts)\n2023 2022 2021\nSales $ 139,081 $ 132,703 $ 132,509\nGross profit 27,072 28,265 28,067\nSelling, general and administrative expenses 34,205 27,295 24,586\nEquity earnings (loss) in Cencora 252 418 (1,139)\nOperating (loss) income (6,882) 1,387 2,342\nAdjusted operating income (Non-GAAP measure)1 3,871 5,133 5,117\n(Loss) earnings before interest and income tax (benefit) provision (4,839) 4,385 2,900\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) (3,080) 4,337 1,994\nAdjusted net earnings attributable to Walgreens Boots Alliance, Inc.\n– continuing operations (Non-GAAP measure)1 3,439 4,360 4,256\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) (3.57) 5.01 2.30\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure)1 3.98 5.04 4.91\n\nPercentage increases (decreases)\n2023 2022 2021\nSales 4.8 0.1 8.6\nGross profit (4.2) 0.7 7.6\nSelling, general and administrative expenses 25.3 11.0 (3.3)\nOperating (loss) income NM (40.8) 138.4\nAdjusted operating income (Non-GAAP measure)–1 (24.6) 0.3 8.2\n(Loss) earnings before interest and income tax provision NM 51.2 173.7\nNet (loss) earnings attributable to Walgreens Boots Alliance, Inc. –\ncontinuing operations (GAAP) NM 117.5 NM\nAdjusted net earnings attributable to Walgreens Boots Alliance,\nInc. – continuing operations (Non-GAAP measure)1 (21.1) 2.5 12.8\nDiluted net (loss) earnings per common share – continuing\noperations (GAAP) NM 117.6 NM\nAdjusted diluted net earnings per common share – continuing\noperations (Non-GAAP measure) 1 (20.9) 2.5 14.6",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_cash_flow",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "1891m free cash flow",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nOperational Highlights 2020 vs. 2019\nConsolidated results of operations Increase/(Decrease)\nYear Ended December 31, 2020 2019 $ %\nGAAP:\nRevenues $ 25,285 $ 26,998 $ (1,713) (6) %\nOperating income $ 4,139 $ 4,146 $ (7) — %\nNet earnings from continuing operations\nattributable to ViacomCBS $ 2,305 $ 3,168 $ (863) (27) %\nDiluted EPS from continuing operations\nattributable to ViacomCBS $ 3.73 $ 5.13 $ (1.40) (27) %\nNet cash flow provided by operating activities from\ncontinuing operations $ 2,215 $ 1,171 $ 1,044 89 %\nNon-GAAP:\nAdjusted OIBDA $ 5,132 $ 5,393 $ (261) (5) %\nAdjusted net earnings from continuing operations\nattributable to ViacomCBS $ 2,595 $ 2,983 $ (388) (13) %\nAdjusted diluted EPS from continuing operations\nattributable to ViacomCBS $ 4.20 $ 4.83 $ (.63) (13) %\nFree cash flow $ 1,891 $ 826 $ 1,065 129 %",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_company_type",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "ViacomCBS Inc.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_key_financials",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "25bn revenue, 1891m free cash flow",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nOperational Highlights 2020 vs. 2019\nConsolidated results of operations Increase/(Decrease)\nYear Ended December 31, 2020 2019 $ %\nGAAP:\nRevenues $ 25,285 $ 26,998 $ (1,713) (6) %\nOperating income $ 4,139 $ 4,146 $ (7) — %\nNet earnings from continuing operations\nattributable to ViacomCBS $ 2,305 $ 3,168 $ (863) (27) %\nDiluted EPS from continuing operations\nattributable to ViacomCBS $ 3.73 $ 5.13 $ (1.40) (27) %\nNet cash flow provided by operating activities from\ncontinuing operations $ 2,215 $ 1,171 $ 1,044 89 %\nNon-GAAP:\nAdjusted OIBDA $ 5,132 $ 5,393 $ (261) (5) %\nAdjusted net earnings from continuing operations\nattributable to ViacomCBS $ 2,595 $ 2,983 $ (388) (13) %\nAdjusted diluted EPS from continuing operations\nattributable to ViacomCBS $ 4.20 $ 4.83 $ (.63) (13) %\nFree cash flow $ 1,891 $ 826 $ 1,065 129 %\nFor 2020, revenues decreased 6% to $25.29 billion from $27.00 billion in 2019, driven by the adverse effects of COVID-19 on our\nbusiness, including lower demand in the advertising market, the closure or reduction in capacity of movie theaters, the cancellation of\nlive events for which we have the broadcast rights, and production shutdowns. T",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_revenue",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "25bn",
      "golden_context": "For 2020, revenues decreased 6% to $25.29 billion from $27.00 billion in 2019, driven by the adverse effects of COVID-19 on our\nbusiness, including lower demand in the advertising market, the closure or reduction in capacity of movie theaters, the cancellation of\nlive events for which we have the broadcast rights, and production shutdowns. T",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_revenue_growth",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "25bn, decrease of 6%",
      "golden_context": "For 2020, revenues decreased 6% to $25.29 billion from $27.00 billion in 2019, driven by the adverse effects of COVID-19 on our\nbusiness, including lower demand in the advertising market, the closure or reduction in capacity of movie theaters, the cancellation of\nlive events for which we have the broadcast rights, and production shutdowns. T",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000051_segments",
      "report_id": "ID_000051",
      "company_name": "Paramount Global",
      "year": 2020,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "TV Entertainment, Cable Networks, Filmed Entertainment",
      "golden_context": "We operate through the following segments:\n• TV Entertainment. Our TV Entertainment segment (“TV Entertainment”) operates the CBS Television Network, our domestic\nbroadcast network; CBS Studios and CBS Media Ventures, our television production and syndication operations; our CBSbranded streaming services, including CBS All Access/Paramount+; CBS Sports Network, our cable network focused on college\nathletics and other sports; and CBS Television Stations, our owned broadcast television stations. TV Entertainment accounted for\napproximately 42% of our consolidated revenues in 2020.\n• Cable Networks. Our Cable Networks segment (“Cable Networks”) operates a portfolio of streaming services, including Pluto TV,\na leading free advertising-supported streaming television (“FAST”) service in the U.S., and Showtime Networks’ premium\nsubscription streaming service (“SHOWTIME OTT”); premium subscription cable networks, including SHOWTIME; basic cable\nnetworks, including BET, Nickelodeon, MTV, Comedy Central, Paramount Network and Smithsonian Channel; international\nextensions of these brands; and our international free-to-air broadcast networks such as Network 10, Channel 5 and Telefe.\nCable Networks accounted for approximately 50% of our consolidated revenues in 2020.\n• Filmed Entertainment. Our Filmed Entertainment segment (“Filmed Entertainment”) operates Paramount Pictures, Paramount\nPlayers, Paramount Animation and Paramount Television Studios, and also includes Miramax, a consolidated joint venture.\nFilmed Entertainment accounted for approximately 10% of our consolidated revenues in 2020.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000052_cash_flow",
      "report_id": "ID_000052",
      "company_name": "Paramount Global",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "-3.382m",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nNote 20) and lease obligations (see Note 11), as well as those not yet committed to, will come from cash flows from operating activities,\nproceeds from noncore asset sales, including the planned sale of Simon & Schuster (see Consolidated Results of Operations - 2022 vs. 2021,\nNet Earnings from Discontinued Operations), and our ability to refinance our debt. Any additional cash funding requirements are financed\nwith short-term borrowings, including commercial paper, and long-term debt. To the extent that commercial paper is not available to us, the\nCredit Facility provides sufficient capacity to satisfy short-term borrowing needs. In addition, if necessary, we could increase our liquidity\nposition by reducing non-committed spending. We routinely assess our capital structure and opportunistically enter into transactions to\nmanage our outstanding debt maturities, which could result in a charge from the early extinguishment of debt.\nOur access to capital markets can be impacted by factors outside our control, including economic conditions; however, we believe that our\nstrong balance sheet, cash flows, credit facility and credit ratings will provide us with adequate access to funding for our expected cash\nneeds. The cost of any new borrowings is affected by market conditions and short- and long-term debt ratings assigned by independent rating\nagencies, and there can be no assurance that we will be able to access capital markets on terms and conditions that will be favorable to us.\nCash Flows\nThe changes in cash, cash equivalents and restricted cash were as follows:\nIncrease/\n(Decrease)\nIncrease/\n(Decrease)\nYear Ended December 31, 2022 2021 2022 vs. 2021 2020 2021 vs. 2020\nNet cash flow (used for) provided by\noperating activities:\nContinuing operations $ (142) $ 835 $ (977) $ 2,215 $ (1,380)\nDiscontinued operations 361 118 243 79 39\nNet cash flow provided by operating activities 219 953 (734) 2,294 (1,341)\nNet cash flow (used for) provided by\ninvesting activities:\nContinuing operations (518) 2,402 (2,920) 63 2,339\nDiscontinued operations (8) (7) (1) (7) —\nNet cash flow (used for) provided by investing\nactivities (526) 2,395 (2,921) 56 2,339\nNet cash flow used for financing activities (2,981) (152) (2,829) (90) (62)\nEffect of exchange rate changes on cash and cash\nequivalents (94) (48) (46) 25 (73)\nNet (decrease) increase in cash, cash equivalents and\nrestricted cash $ (3,382) $ 3,148 $ (6,530) $ 2,285 $ 863",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000052_company_type",
      "report_id": "ID_000052",
      "company_name": "Paramount Global",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "No suffix",
      "golden_context": "We were organized as a Delaware corporation in 1986. In December 2019, we changed our name to ViacomCBS Inc. in connection with the\nmerger of Viacom Inc. (“Viacom”) and CBS Corporation (“CBS”) (the “Merger”). In February 2022, we changed our name to Paramount\nGlobal. Unless the context requires otherwise, references in this document to “Paramount,” “the Company,” “we,” “us” and “our” mean\nParamount Global and its consolidated subsidiaries, to “CBS” mean CBS and its consolidated subsidiaries prior to the Merger and to\n“Viacom” mean Viacom and its consolidated subsidiaries prior to the Merger.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000052_key_financials",
      "report_id": "ID_000052",
      "company_name": "Paramount Global",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "30bn, 2.3bn operating income",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nOverview\nOperational Highlights 2022 vs. 2021\nConsolidated results of operations Increase/(Decrease)\nYear Ended December 31, 2022 2021 $ %\nGAAP:\nRevenues $ 30,154 $ 28,586 $ 1,568 5 %\nOperating income $ 2,342 $ 6,297 $ (3,955) (63)%\nNet earnings from continuing operations\nattributable to Paramount $ 725 $ 4,381 $ (3,656) (83)%\nDiluted EPS from continuing operations\nattributable to Paramount $ 1.03 $ 6.69 $ (5.66) (85)%\nNon-GAAP:\nAdjusted OIBDA $ 3,276 $ 4,444 $ (1,168) (26)%\nAdjusted net earnings from continuing operations\nattributable to Paramount $ 1,171 $ 2,292 $ (1,121) (49)%\nAdjusted diluted EPS from continuing operations\nattributable to Paramount $ 1.71 $ 3.48 $ (1.77) (51)%\n(a) Certain items identified as affecting comparability are excluded in non-GAAP results. See “Reconciliation of Non-GAAP Measures” for details of\nthese items and reconciliations of non-GAAP results to the most directly comparable financial measures in accordance with accounting principles\ngenerally accepted in the United States (“GAAP”).\nFor 2022, revenues increased 5% to $30.15 billion, driven by significant growth in our streaming services, led by Paramount+, and higher\ntheatrical revenues, reflecting the success of our 2022 releases, led by Top Gun: Maverick. These increases were partially offset by lower\nrevenues from our linear networks, including the impact from the rotational nature of the rights to air the Super Bowl, which was broadcast\non CBS in 2021 but another network in 2022. The absence of the Super Bowl negatively impacted the total revenue comparison by 2\npercentage points. The revenue comparison also includes a 2 percentage point negative impact from foreign exchange rate changes.\nOperating income for 2022 decreased 63% to $2.34 billion. This comparison was impacted by higher charges in 2022 for restructuring and\nother corporate matters, as well as lower gains on dispositions. Adjusted OIBDA, which excludes these items, decreased 26%, driven by our\ninvestment in our streaming services, and revenue declines from our linear networks, including from the comparison to the broadcast of the\nSuper Bowl in 2021.\nFor 2022, net earnings from continuing operations attributable to Paramount and diluted EPS from continuing operations decreased 83% and\n85%, respectively, from 2021, primarily as a result of the decline in operating income. Adjusted net earnings from continuing operations\nattributable to Paramount and adjusted diluted EPS, which exclude the items impacting the comparability of operating income noted above,\ndiscrete tax benefits of $80 million in 2022 and $517 million in 2021, and the other items described under Reconciliation of Non-GAAP\nMeasures for 2022, decreased 49% and 51%, respectively, primarily reflecting the lower Adjusted OIBDA.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000052_revenue",
      "report_id": "ID_000052",
      "company_name": "Paramount Global",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "30bn",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nOverview\nOperational Highlights 2022 vs. 2021\nConsolidated results of operations Increase/(Decrease)\nYear Ended December 31, 2022 2021 $ %\nGAAP:\nRevenues $ 30,154 $ 28,586 $ 1,568 5 %\nOperating income $ 2,342 $ 6,297 $ (3,955) (63)%\nNet earnings from continuing operations\nattributable to Paramount $ 725 $ 4,381 $ (3,656) (83)%\nDiluted EPS from continuing operations\nattributable to Paramount $ 1.03 $ 6.69 $ (5.66) (85)%\nNon-GAAP:\nAdjusted OIBDA $ 3,276 $ 4,444 $ (1,168) (26)%\nAdjusted net earnings from continuing operations\nattributable to Paramount $ 1,171 $ 2,292 $ (1,121) (49)%\nAdjusted diluted EPS from continuing operations\nattributable to Paramount $ 1.71 $ 3.48 $ (1.77) (51)%\n(a) Certain items identified as affecting comparability are excluded in non-GAAP results. See “Reconciliation of Non-GAAP Measures” for details of\nthese items and reconciliations of non-GAAP results to the most directly comparable financial measures in accordance with accounting principles\ngenerally accepted in the United States (“GAAP”).\nFor 2022, revenues increased 5% to $30.15 billion, driven by significant growth in our streaming services, led by Paramount+, and higher\ntheatrical revenues, reflecting the success of our 2022 releases, led by Top Gun: Maverick. These increases were partially offset by lower\nrevenues from our linear networks, including the impact from the rotational nature of the rights to air the Super Bowl, which was broadcast\non CBS in 2021 but another network in 2022. The absence of the Super Bowl negatively impacted the total revenue comparison by 2\npercentage points. The revenue comparison also includes a 2 percentage point negative impact from foreign exchange rate changes.\nOperating income for 2022 decreased 63% to $2.34 billion. This comparison was impacted by higher charges in 2022 for restructuring and\nother corporate matters, as well as lower gains on dispositions. Adjusted OIBDA, which excludes these items, decreased 26%, driven by our\ninvestment in our streaming services, and revenue declines from our linear networks, including from the comparison to the broadcast of the\nSuper Bowl in 2021.\nFor 2022, net earnings from continuing operations attributable to Paramount and diluted EPS from continuing operations decreased 83% and\n85%, respectively, from 2021, primarily as a result of the decline in operating income. Adjusted net earnings from continuing operations\nattributable to Paramount and adjusted diluted EPS, which exclude the items impacting the comparability of operating income noted above,\ndiscrete tax benefits of $80 million in 2022 and $517 million in 2021, and the other items described under Reconciliation of Non-GAAP\nMeasures for 2022, decreased 49% and 51%, respectively, primarily reflecting the lower Adjusted OIBDA.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000052_revenue_growth",
      "report_id": "ID_000052",
      "company_name": "Paramount Global",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "30bn, previous 29bn",
      "golden_context": "Management’s Discussion and Analysis of\nResults of Operations and Financial Condition (Continued)\n(Tabular dollars in millions, except per share amounts)\nOverview\nOperational Highlights 2022 vs. 2021\nConsolidated results of operations Increase/(Decrease)\nYear Ended December 31, 2022 2021 $ %\nGAAP:\nRevenues $ 30,154 $ 28,586 $ 1,568 5 %\nOperating income $ 2,342 $ 6,297 $ (3,955) (63)%\nNet earnings from continuing operations\nattributable to Paramount $ 725 $ 4,381 $ (3,656) (83)%\nDiluted EPS from continuing operations\nattributable to Paramount $ 1.03 $ 6.69 $ (5.66) (85)%\nNon-GAAP:\nAdjusted OIBDA $ 3,276 $ 4,444 $ (1,168) (26)%\nAdjusted net earnings from continuing operations\nattributable to Paramount $ 1,171 $ 2,292 $ (1,121) (49)%\nAdjusted diluted EPS from continuing operations\nattributable to Paramount $ 1.71 $ 3.48 $ (1.77) (51)%\n(a) Certain items identified as affecting comparability are excluded in non-GAAP results. See “Reconciliation of Non-GAAP Measures” for details of\nthese items and reconciliations of non-GAAP results to the most directly comparable financial measures in accordance with accounting principles\ngenerally accepted in the United States (“GAAP”).\nFor 2022, revenues increased 5% to $30.15 billion, driven by significant growth in our streaming services, led by Paramount+, and higher\ntheatrical revenues, reflecting the success of our 2022 releases, led by Top Gun: Maverick. These increases were partially offset by lower\nrevenues from our linear networks, including the impact from the rotational nature of the rights to air the Super Bowl, which was broadcast\non CBS in 2021 but another network in 2022. The absence of the Super Bowl negatively impacted the total revenue comparison by 2\npercentage points. The revenue comparison also includes a 2 percentage point negative impact from foreign exchange rate changes.\nOperating income for 2022 decreased 63% to $2.34 billion. This comparison was impacted by higher charges in 2022 for restructuring and\nother corporate matters, as well as lower gains on dispositions. Adjusted OIBDA, which excludes these items, decreased 26%, driven by our\ninvestment in our streaming services, and revenue declines from our linear networks, including from the comparison to the broadcast of the\nSuper Bowl in 2021.\nFor 2022, net earnings from continuing operations attributable to Paramount and diluted EPS from continuing operations decreased 83% and\n85%, respectively, from 2021, primarily as a result of the decline in operating income. Adjusted net earnings from continuing operations\nattributable to Paramount and adjusted diluted EPS, which exclude the items impacting the comparability of operating income noted above,\ndiscrete tax benefits of $80 million in 2022 and $517 million in 2021, and the other items described under Reconciliation of Non-GAAP\nMeasures for 2022, decreased 49% and 51%, respectively, primarily reflecting the lower Adjusted OIBDA.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_cash_flow",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow continuing operations 1.9bn, free cash flow continuing operations 1.1bn",
      "golden_context": "In 2021, operating income was $1.797 billion, operating cash flow from continuing operations was $1.931\nbillion, and free cash flow from continuing operations was $1.133 billion. ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_company_type",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "DAVITA INC.\n(Exact name of registrant as specified in charter)",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_key_financials",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "11.6bn revenues. 1.8bn operating income.",
      "golden_context": "p. 63\n\nonsolidated results of operations\nThe following table summarizes our revenues, operating income and adjusted operating income by line of business. See\nthe discussion of our results for each line of business following this table. When multiple drivers are identified in the following\ndiscussion of results, they are listed in order of magnitude:\nRevenues:\nU.S. dialysis Other - Ancillary services Elimination of intersegment revenues 2021 2020 Amount Percent\n(dollars in millions)\n$ 10,667 $ 10,660 $ 1,047 1,053 (95) (162) Total consolidated revenues $ 11,619 $ 11,551 $ 68 0.6 %\nYear ended December 31, Annual change\n7 0.1 %\n(6) (0.6) %\n67 41.4 %\nOperating income (loss):\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (76) 10 13.2 %\nCorporate administrative support (112) (147) 35 23.8 %\nOperating income $ 1,797 $ 1,695 $ 102 6.0 %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (60) (6) (10.0) %\nCorporate administrative support (112) (112) — — %\nAdjusted operating income $ 1,797 $ 1,746 $ 51 2.9 %\nCertain columns or rows may not sum or recalculate due to the presentation of rounded numbers.\n(1) For a reconciliation of adjusted operating income (loss) by reportable segment, see the \"Reconciliations of non-GAAP m",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_revenue",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "10.7bn",
      "golden_context": "Consolidated results of operations\nThe following table summarizes our revenues, operating income and adjusted operating income by line of business. See\nthe discussion of our results for each line of business following this table. When multiple drivers are identified in the following\ndiscussion of results, they are listed in order of magnitude:\nYear ended December 31, Annual change\n2021 2020 Amount Percent\n(dollars in millions)\nRevenues:\nU.S. dialysis $ 10,667 $ 10,660 $ 7 0.1 %\nOther - Ancillary services 1,047 1,053 (6) (0.6) %\nElimination of intersegment revenues (95) (162) 67 41.4 %\nTotal consolidated revenues $ 11,619 $ 11,551 $ 68 0.6 %\nOperating income (loss):\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (76) 10 13.2 %\nCorporate administrative support (112) (147) 35 23.8 %\nOperating income $ 1,797 $ 1,695 $ 102 6.0 %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (60) (6) (10.0) %\nCorporate administrative support (112) (112) — — %\nAdjusted operating income $ 1,797 $ 1,746 $ 51 2.9 %",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_revenue_growth",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "10.7bn, 10.7bn previous",
      "golden_context": "Consolidated results of operations\nThe following table summarizes our revenues, operating income and adjusted operating income by line of business. See\nthe discussion of our results for each line of business following this table. When multiple drivers are identified in the following\ndiscussion of results, they are listed in order of magnitude:\nYear ended December 31, Annual change\n2021 2020 Amount Percent\n(dollars in millions)\nRevenues:\nU.S. dialysis $ 10,667 $ 10,660 $ 7 0.1 %\nOther - Ancillary services 1,047 1,053 (6) (0.6) %\nElimination of intersegment revenues (95) (162) 67 41.4 %\nTotal consolidated revenues $ 11,619 $ 11,551 $ 68 0.6 %\nOperating income (loss):\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (76) 10 13.2 %\nCorporate administrative support (112) (147) 35 23.8 %\nOperating income $ 1,797 $ 1,695 $ 102 6.0 %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,975 $ 1,918 $ 57 3.0 %\nOther - Ancillary services (66) (60) (6) (10.0) %\nCorporate administrative support (112) (112) — — %\nAdjusted operating income $ 1,797 $ 1,746 $ 51 2.9 %",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000054_segments",
      "report_id": "ID_000054",
      "company_name": "DaVita",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "US Dialysis, international operations, integrated care.",
      "golden_context": "improved certain key clinical outcomes in our U.S. dialysis business, including exceeding our prepandemic level of patients receiving kidney transplants,\n• grew operating income by 3.0% in U.S. dialysis and 82.6% in international operations,\n• provided integrated kidney care to approximately 16,000 patients in risk-based integrated care\narrangements and an additional 7,000 patients in other integrated care arrangements, and\n• prepared for a doubling in the size of our integrated kidney care patient population in 2022 with the\nlaunch of the federal government’s Comprehensive Kidney Care Contracting program.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_cash_flow",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flor 1.6bn, free cash flow 817m.",
      "golden_context": "In 2022, operating income was $1.339 billion, operating cash flow was $1.565 billion, and free cash flow\nwas $817 million. We invested $229 million in acquisitions and development in our businesses and  \n$788 million on repurchases of more than eight million shares of our common stock in 2022, reducing our\nshares outstanding by more than seven percent since the beginning of the year.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_company_type",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "DAVITA INC.\n(Exact name of registrant as specified in charter)",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_key_financials",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "1.3bn operating income, operating cash flor 1.6bn, free cash flow 817m.",
      "golden_context": "In 2022, operating income was $1.339 billion, operating cash flow was $1.565 billion, and free cash flow\nwas $817 million. We invested $229 million in acquisitions and development in our businesses and  \n$788 million on repurchases of more than eight million shares of our common stock in 2022, reducing our\nshares outstanding by more than seven percent since the beginning of the year.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_revenue",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "11.6bn",
      "golden_context": "The following table summarizes our revenues, operating income (loss) and adjusted operating income (loss) by line of\nbusiness. See the discussion of our results for each line of business following this table. When multiple drivers are identified in\nthe following discussion of results, they are listed in order of magnitude:\nYear ended December 31, Annual change\n2022 2021 Amount Percent\n(dollars in millions)\nRevenues:\nU.S. dialysis $ 10,600 $ 10,667 $ (67) (0.6) %\nOther - Ancillary services 1,101 1,047 54 5.2 %\nElimination of intersegment revenues (91) (95) 4 4.2 %\nTotal consolidated revenues $ 11,610 $ 11,619 $ (9) (0.1) %\nOperating income (loss):\nU.S. dialysis $ 1,565 $ 1,975 $ (410) (20.8) %\nOther - Ancillary services (97) (66) (31) (47.0) %\nCorporate administrative support (130) (112) (18) (16.1) %\nOperating income $ 1,339 $ 1,797 $ (458) (25.5) %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,668 $ 1,993 $ (325) (16.3) %\nOther - Ancillary services (89) (66) (23) (34.8) %\nCorporate administrative support (129) (112) (17) (15.2) %\nAdjusted operating income $ 1,450 $ 1,815 $ (365) (20.1) %",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_revenue_growth",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "11.6, previous 11.6bn",
      "golden_context": "The following table summarizes our revenues, operating income (loss) and adjusted operating income (loss) by line of\nbusiness. See the discussion of our results for each line of business following this table. When multiple drivers are identified in\nthe following discussion of results, they are listed in order of magnitude:\nYear ended December 31, Annual change\n2022 2021 Amount Percent\n(dollars in millions)\nRevenues:\nU.S. dialysis $ 10,600 $ 10,667 $ (67) (0.6) %\nOther - Ancillary services 1,101 1,047 54 5.2 %\nElimination of intersegment revenues (91) (95) 4 4.2 %\nTotal consolidated revenues $ 11,610 $ 11,619 $ (9) (0.1) %\nOperating income (loss):\nU.S. dialysis $ 1,565 $ 1,975 $ (410) (20.8) %\nOther - Ancillary services (97) (66) (31) (47.0) %\nCorporate administrative support (130) (112) (18) (16.1) %\nOperating income $ 1,339 $ 1,797 $ (458) (25.5) %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,668 $ 1,993 $ (325) (16.3) %\nOther - Ancillary services (89) (66) (23) (34.8) %\nCorporate administrative support (129) (112) (17) (15.2) %\nAdjusted operating income $ 1,450 $ 1,815 $ (365) (20.1) %",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000055_segments",
      "report_id": "ID_000055",
      "company_name": "DaVita",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "US dialysis, other ancillary services",
      "golden_context": "Year ended December 31, Annual change\n2022 2021 Amount Percent\n(dollars in millions)\nRevenues:\nU.S. dialysis $ 10,600 $ 10,667 $ (67) (0.6) %\nOther - Ancillary services 1,101 1,047 54 5.2 %\nElimination of intersegment revenues (91) (95) 4 4.2 %\nTotal consolidated revenues $ 11,610 $ 11,619 $ (9) (0.1) %\nOperating income (loss):\nU.S. dialysis $ 1,565 $ 1,975 $ (410) (20.8) %\nOther - Ancillary services (97) (66) (31) (47.0) %\nCorporate administrative support (130) (112) (18) (16.1) %\nOperating income $ 1,339 $ 1,797 $ (458) (25.5) %\nAdjusted operating income (loss):(1)\nU.S. dialysis $ 1,668 $ 1,993 $ (325) (16.3) %\nOther - Ancillary services (89) (66) (23) (34.8) %\nCorporate administrative support (129) (112) (17) (15.2) %\nAdjusted operating income $ 1,450 $ 1,815 $ (365) (20.1) %",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_cash_flow",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 2.1bn. Free cash flow 1.3bn.",
      "golden_context": "Operating cash flow was $2.059 billion and free cash flow2 was $1.236 billion in 2023.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_company_type",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "DAVITA INC.\n(Exact name of registrant as specified in charter)",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_key_financials",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "1.6bn operating income. Adjusted operating income 1.7bn. Operating cash flow 2.1bn. Free cash flow 1.3bn.",
      "golden_context": "In 2023, operating income was $1.603 billion and adjusted operating income2 was $1.734 billion, each representing\napproximately 20% growth from 2022.\nOperating cash flow was $2.059 billion and free cash flow2 was $1.236 billion in 2023. We returned our leverage\nratio to our target range of 3.0x to 3.5x through a combination of debt paydown and Consolidated EBITDA increase3\n;\ninvested $26 million in acquisitions; and returned $286 million of capital to stockholders via repurchases of almost\nthree million shares of our common stock, reducing our shares outstanding by approximately two percent since the\nbeginning of the year. ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_revenue",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "12.1bn",
      "golden_context": "DAVITA INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(dollars and shares in thousands, except per share data)\nYear ended December 31,\n 2023 2022 2021\nDialysis patient service revenues $ 11,574,941 $ 11,176,464 $ 11,213,515\nOther revenues 565,206 433,430 405,282\nTotal revenues 12,140,147 11,609,894 11,618,797 ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_revenue_growth",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "12.1bn, 11.6 previous",
      "golden_context": "DAVITA INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(dollars and shares in thousands, except per share data)\nYear ended December 31,\n 2023 2022 2021\nDialysis patient service revenues $ 11,574,941 $ 11,176,464 $ 11,213,515\nOther revenues 565,206 433,430 405,282\nTotal revenues 12,140,147 11,609,894 11,618,797 ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000056_segments",
      "report_id": "ID_000056",
      "company_name": "DaVita",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "US dialysis. International. Integrated kidney care.",
      "golden_context": "Our businesses\nWe are one of the two largest dialysis providers in the United States. Our U.S. dialysis and related lab services (U.S.\ndialysis) business treats patients with chronic kidney failure, ESKD, in the United States, and is our largest line of business. Our\nrobust platform to deliver kidney care services also includes established nephrology and payor relationships.\nIn addition, as of December 31, 2023, our international operations provided dialysis and administrative services to a total\nof 367 outpatient dialysis centers located in 11 countries outside of the U.S., serving approximately 49,400 patients.\nFinally, our U.S. integrated kidney care (IKC) business provided integrated care and disease management services to\n58,000 patients in risk-based integrated care arrangements and to a",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_cash_flow",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "net cash operating 760",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2021 2020 2019 2018 2017\nSales and Service Revenues $ 9,524 $ 9,361 $ 8,899 $ 8,176 $ 7,441\nOperating Income 513 799 736 951 881\nOperating Margin 5.4% 8.5 % 8.3 % 11.6 % 11.8 %\nAdjusted Segment Operating Income(1) 683 555 660 663 688\nAdjusted Segment Operating Margin(1) 7.2% 5.9 % 7.4 % 8.1 % 9.2 %\nDiluted EPS 13.50 17.14 13.26 19.09 10.46\nAdjusted Diluted EPS(2) 13.03 10.67 11.43 12.51 9.45\nNet Cash Provided by Operating Activities 760 1,093 896 914 814",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_company_type",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "HUNTINGTON INGALLS INDUSTRIES, INC",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_key_financials",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "revenues 9524m. op income 513m. Diluted EPS 13.5. Net cash operating activities 760m.",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2021 2020 2019 2018 2017\nSales and Service Revenues $ 9,524 $ 9,361 $ 8,899 $ 8,176 $ 7,441\nOperating Income 513 799 736 951 881\nOperating Margin 5.4% 8.5 % 8.3 % 11.6 % 11.8 %\nAdjusted Segment Operating Income(1) 683 555 660 663 688\nAdjusted Segment Operating Margin(1) 7.2% 5.9 % 7.4 % 8.1 % 9.2 %\nDiluted EPS 13.50 17.14 13.26 19.09 10.46\nAdjusted Diluted EPS(2) 13.03 10.67 11.43 12.51 9.45\nNet Cash Provided by Operating Activities 760 1,093 896 914 814",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_revenue",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "9.5bn",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2021 2020 2019 2018 2017\nSales and Service Revenues $ 9,524 $ 9,361 $ 8,899 $ 8,176 $ 7,441\nOperating Income 513 799 736 951 881\nOperating Margin 5.4% 8.5 % 8.3 % 11.6 % 11.8 %\nAdjusted Segment Operating Income(1) 683 555 660 663 688\nAdjusted Segment Operating Margin(1) 7.2% 5.9 % 7.4 % 8.1 % 9.2 %\nDiluted EPS 13.50 17.14 13.26 19.09 10.46\nAdjusted Diluted EPS(2) 13.03 10.67 11.43 12.51 9.45\nNet Cash Provided by Operating Activities 760 1,093 896 914 814",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_revenue_growth",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "9.5bn, 9.4bn previous",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2021 2020 2019 2018 2017\nSales and Service Revenues $ 9,524 $ 9,361 $ 8,899 $ 8,176 $ 7,441\nOperating Income 513 799 736 951 881\nOperating Margin 5.4% 8.5 % 8.3 % 11.6 % 11.8 %\nAdjusted Segment Operating Income(1) 683 555 660 663 688\nAdjusted Segment Operating Margin(1) 7.2% 5.9 % 7.4 % 8.1 % 9.2 %\nDiluted EPS 13.50 17.14 13.26 19.09 10.46\nAdjusted Diluted EPS(2) 13.03 10.67 11.43 12.51 9.45\nNet Cash Provided by Operating Activities 760 1,093 896 914 814",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000057_segments",
      "report_id": "ID_000057",
      "company_name": "Huntington Ingalls",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Shipbuilding & services, government/DoD & commercial",
      "golden_context": "Huntington Ingalls Industries, Inc. (\"HII\", the \"Company\", \"we\", \"us\", or \"our\") is America’s largest military\nshipbuilding company and a provider of professional services to partners in government and industry. For more than\na century, our Ingalls Shipbuilding segment (\"Ingalls\") in Mississippi and Newport News Shipbuilding segment\n(\"Newport News\") in Virginia have built more ships in more ship classes than any other U.S. naval shipbuilder. Our\nTechnical Solutions segment provides a range of services to government and commercial customers.\nWe conduct most of our business with the U.S. Government, primarily the Department of Defense (\"DoD\"). As prime\ncontractor, principal subcontractor, team member, or partner, we participate in many high-priority U.S. defense\nprograms. Ingalls includes our non-nuclear ship design, construction, repair, and maintenance businesses. Newport\nNews includes all of our nuclear ship design, construction, overhaul, refueling, and repair and maintenance\nbusinesses. We also provide a wide range of professional services, including defense and federal solutions (\"DFS\"),\nnuclear and environmental services, and unmanned systems, through our Technical Solutions segment.\nHeadquartered in Newport News, Virginia, we employ approximately 44,000 people domestically and internationally.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_cash_flow",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "766m cash operating. 494m free cash flow.",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2022 2021\nSales and Service Revenues $ 10,676 $ 9,524\nOperating Income 565 513\nSegment Operating Income(1) 712 683\nSegment Operating Margin(1) 6.7% 7.2 %\nDiluted EPS 14.44 13.50\nNet Cash Provided by Operating Activities 766 760\nFree Cash Flow(2) 494 449",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_company_type",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "HUNTINGTON INGALLS INDUSTRIES, INC",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_key_financials",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenue 10.7bn. Operating income 565. 766 cash from operating activities.",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2022 2021\nSales and Service Revenues $ 10,676 $ 9,524\nOperating Income 565 513\nSegment Operating Income(1) 712 683\nSegment Operating Margin(1) 6.7% 7.2 %\nDiluted EPS 14.44 13.50\nNet Cash Provided by Operating Activities 766 760\nFree Cash Flow(2) 494 449",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_revenue",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenue 10.7bn. ",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2022 2021\nSales and Service Revenues $ 10,676 $ 9,524\nOperating Income 565 513\nSegment Operating Income(1) 712 683\nSegment Operating Margin(1) 6.7% 7.2 %\nDiluted EPS 14.44 13.50\nNet Cash Provided by Operating Activities 766 760\nFree Cash Flow(2) 494 449",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_revenue_growth",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 10.7bn, 9.5bn previous",
      "golden_context": "OPERATING RESULTS\n($ in millions, except per share amounts) 2022 2021\nSales and Service Revenues $ 10,676 $ 9,524\nOperating Income 565 513\nSegment Operating Income(1) 712 683\nSegment Operating Margin(1) 6.7% 7.2 %\nDiluted EPS 14.44 13.50\nNet Cash Provided by Operating Activities 766 760\nFree Cash Flow(2) 494 449",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000058_segments",
      "report_id": "ID_000058",
      "company_name": "Huntington Ingalls",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Shipbuilding, services.",
      "golden_context": "Huntington Ingalls Industries, Inc. (\"HII\", the \"Company\", \"we\", \"us\", or \"our\") is a global, all-domain defense partner,\nbuilding and delivering the world's most powerful, survivable naval ships and technologies that safeguard America’s\nseas, sky, land, space, and cyber. For more than a century, our Ingalls Shipbuilding segment (\"Ingalls\") in\nMississippi and Newport News Shipbuilding segment (\"Newport News\") in Virginia have built more ships in more\nship classes than any other U.S. naval shipbuilder, making us America's largest shipbuilder. Our Mission\nTechnologies (formerly named Technical Solutions) segment delivers high-value engineering and technology\nsolutions to enable multi-domain distributed operations in the government and commercial markets. Headquartered\nin Newport News, Virginia, we employ approximately 43,000 people domestically and internationally.\nWe conduct most of our business with the U.S. Government, primarily the Department of Defense (\"DoD\"). As prime\ncontractor, principal subcontractor, team member, or partner, we participate in many high-priority U.S. defense\nprograms. Ingalls includes our non-nuclear ship design, construction, repair, and maintenance businesses. Newport\nNews includes all of our nuclear ship design, construction, overhaul, refueling, and repair and maintenance\nbusinesses. Our Mission Technologies segment provides a wide range of services and products, including\ncommand, control, computers, communications, cyber, intelligence, surveillance, and reconnaissance (\"C5ISR\")\nsystems and operations; the application of artificial intelligence and machine learning to battlefield decisions;\ndefensive and offensive cyberspace strategies and electronic warfare (\"CEWS\"); unmanned autonomous systems;\nlive, virtual, and constructive training solutions (\"LVC\"); platform modernization; and critical nuclear operations.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_cash_flow",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Net Cash Provided by Operating Activities 970, Free cash flow 692",
      "golden_context": "Operating Results\n($ in millions, except per share amounts) 2023 2022\nSales and Service Revenues $ 11,454 $ 10,676\nOperating Income 781 565\nSegment Operating Income(1) 842 712\nSegment Operating Margin (1) 7.4% 6.7 %\nDiluted EPS 17.07 14.44\nNet Cash Provided by Operating Activities 970 766\nFree Cash Flow(2) 692 494",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_company_type",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "HUNTINGTON INGALLS INDUSTRIES, INC.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_key_financials",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "11.5bn revenue, operating income 842, Net Cash Provided by Operating Activities 970, Free cash flow 692",
      "golden_context": "Operating Results\n($ in millions, except per share amounts) 2023 2022\nSales and Service Revenues $ 11,454 $ 10,676\nOperating Income 781 565\nSegment Operating Income(1) 842 712\nSegment Operating Margin (1) 7.4% 6.7 %\nDiluted EPS 17.07 14.44\nNet Cash Provided by Operating Activities 970 766\nFree Cash Flow(2) 692 494",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_revenue",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "11.5bn",
      "golden_context": "Operating Results\n($ in millions, except per share amounts) 2023 2022\nSales and Service Revenues $ 11,454 $ 10,676\nOperating Income 781 565\nSegment Operating Income(1) 842 712\nSegment Operating Margin (1) 7.4% 6.7 %\nDiluted EPS 17.07 14.44\nNet Cash Provided by Operating Activities 970 766\nFree Cash Flow(2) 692 494",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_revenue_growth",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "11.5bn, previous 10.7bn",
      "golden_context": "Operating Results\n($ in millions, except per share amounts) 2023 2022\nSales and Service Revenues $ 11,454 $ 10,676\nOperating Income 781 565\nSegment Operating Income(1) 842 712\nSegment Operating Margin (1) 7.4% 6.7 %\nDiluted EPS 17.07 14.44\nNet Cash Provided by Operating Activities 970 766\nFree Cash Flow(2) 692 494",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000059_segments",
      "report_id": "ID_000059",
      "company_name": "Huntington Ingalls",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Shipbuilding & services, government/DoD & commercial",
      "golden_context": "Huntington Ingalls Industries, Inc. (\"HII\", the \"Company\", \"we\", \"us\", or \"our\") is a global, all-domain defense partner, building and delivering the world's\nmost powerful, survivable naval ships and technologies that safeguard America’s seas, sky, land, space, and cyber. For more than a century, our Ingalls\nShipbuilding segment (\"Ingalls\") in Mississippi and Newport News Shipbuilding segment (\"Newport News\") in Virginia have built more ships in more ship\nclasses than any other U.S. naval shipbuilder, making us America's largest shipbuilder. Our Mission Technologies segment develops integrated\ntechnology solutions and products that enable today's connected, all domain force. Headquartered in Newport News, Virginia, we employ over 44,000\npeople domestically and internationally.\nWe conduct most of our business with the U.S. Government, primarily the Department of Defense (\"DoD\"). As prime contractor, principal subcontractor,\nteam member, or partner, we participate in many high-priority U.S. defense programs. Ingalls includes our non-nuclear ship design, construction, repair,\nand maintenance businesses. Newport News includes all of our nuclear ship design, construction, overhaul, refueling, and repair and maintenance\nbusinesses. Our Mission Technologies segment provides a wide range of services and products, including command, control, computers,\ncommunications, cyber, intelligence, surveillance, and reconnaissance (\"C5ISR\") systems and operations; the application of Artificial Intelligence and\nmachine learning to battlefield decisions; defense and offensive cyberspace strategies and electronic warfare; unmanned autonomous systems; live,\nvirtual, and constructive training solutions; fleet sustainment; and critical nuclear operations.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000060_cash_flow",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Cash operating 1.8bn. 1.1bn investing. 1.0bn financing.",
      "golden_context": "Net Cash Provided by (Used in) Operating Activities\nNet cash provided by operating activities increased $414 million to $1.8 billion for the year ended December 31, 2021\ncompared to $1.3 billion for the same period in 2020, primarily due to:\n• the gain on the sale of our 45% Polyplastics joint venture equity interest during the year ended December 31, 2020,\nwhich did not recur in the current year, net of a decrease in Net earnings;\npartially offset by:\n• unfavorable trade working capital of $669 million, primarily due to an increase in trade receivables and inventory,\npartially offset by an increase in trade payables. Trade receivables increased primarily as a result of the increase in Net\nsales and inventory increased primarily as a result of higher costs for raw materials during the year ended\nDecember 31, 2021. Payables increased as a result of higher costs for raw materials and the timing of settlement of\ntrade payables;\n• an increase in VAT taxes receivable, primarily due to timing of refunds and COVID-19 relief measures during the year\nended December 31, 2020, which did not recur in the current year; and\n• a payment for the European Commission settlement of $100 million, see Note 20 - Commitments and Contingencies in\nthe accompanying consolidated financial statements for further information.\n• Net Cash Provided by (Used in) Investing Activities\nNet cash used in investing activities increased $1.7 billion to $1.1 billion for the year ended December 31, 2021 compared to\nnet cash provided by investing activities of $592 million for the same period in 2020, primarily due to:\n• a net cash inflow of $1.6 billion related to the sale of our 45% Polyplastics joint venture equity interest during the year\nended December 31, 2020, which did not recur in the current year. See Note 7 - Investments in Affiliates in the\naccompanying consolidated financial statements for further information;\n• a net cash outflow of $1.0 billion related to the acquisition of the Santoprene™ thermoplastic vulcanizates elastomers\nbusiness of Exxon Mobil Corporation in December 2021 (see Note 4 - Acquisitions, Dispositions and Plant Closures in\nthe accompanying consolidated financial statements for further information), partially offset by the acquisition of\nNouryon's redispersible polymer powders business offered under the Elotex®\n brand in April 2020; and\n• an increase of $103 million in capital expenditures related to growth opportunities in our Acetyl Chain and Engineered\nMaterials segments;\npartially offset by:\n• an increase in net proceeds of $1.0 billion related to the purchase and sale of marketable securities during the years\nended December 31, 2020 and December 31, 2021.\nNet Cash Provided by (Used in) Financing Activities\nNet cash used in financing activities decreased $429 million to $1.0 billion for the year ended December 31, 2021 compared to\n$1.5 billion for the same period in 2020, primarily due to:\n• a decrease in net repayments of short-term debt of $642 million, primarily as a result of repayments of borrowings\nunder our revolving credit facility and accounts receivable securitization facility during the year ended\nDecember 31, 2020; and\n• an increase in net proceeds from long-term debt of $234 million, primarily due to the issuance of $400 million in\nprincipal amount of 1.400% senior unsecured notes due August 5, 2026 (the \"1.400% Notes\") and the issuance of\n€500 million in principal amount of 0.625% senior unsecured notes due September 10, 2028 (the \"0.625% Notes\"),\npartially offset by the maturity and repayment in full of the 5.875% senior unsecured notes (the \"5.875% Notes\") and\ntender offer for 1.125% senior unsecured notes due September 26, 2023 (the \"1.125% Notes\") during the year ended\nDecember 31, 2021;\npartially offset by:\n• an increase in share repurchases of our Common Stock of $350 million during the year ended December 31, 2021; and\n• a settlement of a forward-starting interest rate swap on August 2, 2021 resulting in a payment to the counterparty of\n$72 million.\nIn addition, exchange rates had an unfavorable impact of $15 million on cash and cash equivalents and a favorable impact of\n$28 million on cash and cash equivalents for the years ended December 31, 2021 and 2020, respectively.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000060_company_type",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "CELANESE CORPORATION",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000060_key_financials",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "8537m revenues. 2.7bn gross profit. 1.9bn net income.",
      "golden_context": "Year Ended\nDecember 31,\n2021 2020 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 8,537 5,655 2,882\nGross profit....................................................................................................................... 2,682 1,293 1,389\nSelling, general and administrative (\"SG&A\") expenses................................................. (633) (482) (151)\nOperating profit (loss)....................................................................................................... 1,946 664 1,282\nEquity in net earnings (loss) of affiliates.......................................................................... 146 134 12\nNon-operating pension and other postretirement employee benefit (expense) income.... 106 17 89\nInterest expense................................................................................................................. (91) (109) 18\nDividend income - equity investments............................................................................. 147 126 21\nGain (loss) on sale of investments in affiliates................................................................. — 1,408 (1,408)\nEarnings (loss) from continuing operations before tax..................................................... 2,248 2,251 (3)\nEarnings (loss) from continuing operations...................................................................... 1,918 2,004 (86)\nEarnings (loss) from discontinued operations .................................................................. (22) (12) (10)\nNet earnings (loss)............................................................................................................ 1,896 1,992 (96)\nNet earnings (loss) attributable to Celanese Corporation ................................................. 1,890 1,985 (95)\nOther Data\nDepreciation and amortization.......................................................................................... 371 350 21\nSG&A expenses as a percentage of Net sales................................................................... 7.4 % 8.5 %\nOperating margin(1)\n........................................................................................................... 22.8 % 11.7 %",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000060_revenue",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "8.5bn",
      "golden_context": "Year Ended\nDecember 31,\n2021 2020 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 8,537 5,655 2,882\nGross profit....................................................................................................................... 2,682 1,293 1,389\nSelling, general and administrative (\"SG&A\") expenses................................................. (633) (482) (151)\nOperating profit (loss)....................................................................................................... 1,946 664 1,282\nEquity in net earnings (loss) of affiliates.......................................................................... 146 134 12\nNon-operating pension and other postretirement employee benefit (expense) income.... 106 17 89\nInterest expense................................................................................................................. (91) (109) 18\nDividend income - equity investments............................................................................. 147 126 21\nGain (loss) on sale of investments in affiliates................................................................. — 1,408 (1,408)\nEarnings (loss) from continuing operations before tax..................................................... 2,248 2,251 (3)\nEarnings (loss) from continuing operations...................................................................... 1,918 2,004 (86)\nEarnings (loss) from discontinued operations .................................................................. (22) (12) (10)\nNet earnings (loss)............................................................................................................ 1,896 1,992 (96)\nNet earnings (loss) attributable to Celanese Corporation ................................................. 1,890 1,985 (95)\nOther Data\nDepreciation and amortization.......................................................................................... 371 350 21\nSG&A expenses as a percentage of Net sales................................................................... 7.4 % 8.5 %\nOperating margin(1)\n........................................................................................................... 22.8 % 11.7 %",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000060_revenue_growth",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "8.5bn, 5.7bn previous",
      "golden_context": "Year Ended\nDecember 31,\n2021 2020 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 8,537 5,655 2,882\nGross profit....................................................................................................................... 2,682 1,293 1,389\nSelling, general and administrative (\"SG&A\") expenses................................................. (633) (482) (151)\nOperating profit (loss)....................................................................................................... 1,946 664 1,282\nEquity in net earnings (loss) of affiliates.......................................................................... 146 134 12\nNon-operating pension and other postretirement employee benefit (expense) income.... 106 17 89\nInterest expense................................................................................................................. (91) (109) 18\nDividend income - equity investments............................................................................. 147 126 21\nGain (loss) on sale of investments in affiliates................................................................. — 1,408 (1,408)\nEarnings (loss) from continuing operations before tax..................................................... 2,248 2,251 (3)\nEarnings (loss) from continuing operations...................................................................... 1,918 2,004 (86)\nEarnings (loss) from discontinued operations .................................................................. (22) (12) (10)\nNet earnings (loss)............................................................................................................ 1,896 1,992 (96)\nNet earnings (loss) attributable to Celanese Corporation ................................................. 1,890 1,985 (95)\nOther Data\nDepreciation and amortization.......................................................................................... 371 350 21\nSG&A expenses as a percentage of Net sales................................................................... 7.4 % 8.5 %\nOperating margin(1)\n........................................................................................................... 22.8 % 11.7 %",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000060_segments",
      "report_id": "ID_000060",
      "company_name": "Celanese",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Polymers, acetyl",
      "golden_context": "We operate principally through three business segments: Engineered Materials, Acetate Tow and the Acetyl Chain.\n\nEngineered Materials\nProducts\nMajor End-Use\nApplications Principal Competitors Key Raw Materials\n• Polyoxymethylene\n(\"POM\")\n• Ultra-high molecular\nweight polyethylene\n(\"UHMW-PE\")\n• Polybutylene terephthalate\n(\"PBT\")\n• Long-fiber reinforced\nthermoplastics (\"LFRT\")\n• Liquid crystal polymers\n(\"LCP\")\n• Thermoplastic elastomers\n(\"TPE\")\n• Thermoplastic vulcanizates\n(\"TPV\")\n• Nylon compounds or\nformulations\n• Polypropylene compounds\nor formulations\n• Polyphenylene sulfide\n(\"PPS\")\n• Acesulfame potassium\n(\"Ace-K\")\n• Preservatives\n• Automotive\n• Medical\n• Industrial\n• Energy storage\n• Consumer electronics\n• Appliances\n• Construction\n• Filtration equipment\n• Telecommunications\n• Beverages\n• Baked goods\n• Ajinomoto Co. Inc.\n• Anhui Jinhe Industrial Co.,\nLtd.\n• BASF SE\n• Daicel Corporation\n(\"Daicel\")\n• E. I. du Pont de Nemours\nand Company\n• Koninklijke DSM N.V.\n• Nantong Acetic Acid\nChemical Co., Ltd.\n• The NutraSweet Company\n• SABIC Innovative Plastics\n• Solvay S.A.\n• Suzhou Hope Technology\nCo., Ltd.\n• Tate & Lyle PLC\nOther regional competitors:\n• Asahi Kasei Corporation\n• Braskem S.A.\n• Lanxess AG\n• Mitsubishi Gas Chemical\nCompany, Inc.\n• Sumitomo Corporation\n• Teijin Limited\n• Toray Industries, Inc.\n• Formaldehyde\n• Ethylene\n• Polypropylene\n• Fibers\n• Acetic anhydride\n• Propylene\n• Styrene\n• Butadiene\n• Ethylene propylene diene\nmonomer\n• Oil\n• PA6\n• PA66\n• Para-dichlorobenzene\n• Diketene\n• Overview\nOur Engineered Materials segment includes our engineered materials business, our food ingred",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_cash_flow",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 62m, investing cash flow 10bn, financing cash flow 11.3bn",
      "golden_context": "Net Cash Provided by (Used in) Operating Activities\nNet cash provided by operating activities increased $62 million to $1.8 billion for the year ended December 31, 2022 compared\nto $1.8 billion for the same period in 2021, primarily due to:\n• favorable changes in trade working capital of $291 million, primarily due to the timing of collections of trade\nreceivables, inventory builds and settlement of trade payables;\npartially offset by:\n• a lower earnings performance.\n• Net Cash Provided by (Used in) Investing Activities\nNet cash used in investing activities increased $10.0 billion to $11.1 billion for the year ended December 31, 2022 compared to\n$1.1 billion for the same period in 2021, primarily due to:\n• a net cash outflow of $9.4 billion related to the M&M Acquisition in November 2022, partially offset by the\nacquisition of the Santoprene™ thermoplastic vulcanizates elastomers business of Exxon Mobil Corporation in\n2021,which did not recur in the current year. See Note 4 - Acquisitions, Dispositions and Plant Closures in the\naccompanying consolidated financial statements for further information; and\nproceeds from the sale of marketable securities of $516 million, which did not recur in the current year.\n• Net Cash Provided by (Used in) Financing Activities\nNet cash provided by financing activities increased $11.3 billion to $10.3 billion for the year ended December 31, 2022\ncompared to net cash used in financing activities of $1.0 billion for the same period in 2021, primarily due to:\n• an increase in net proceeds of long-term debt of $10.0 billion, primarily due to the issuance of senior unsecured notes\nconsisting of $2.0 billion in principal amount of 5.900% notes due July 5, 2024, $1.75 billion in principal amount of\n6.050% notes due March 15, 2025, $2.0 billion in principal amount of 6.165% notes due July 15, 2027, $750 million\nin principal amount of 6.330% notes due July 15, 2029 and $1.0 billion in principal amount of 6.379% notes due\nJuly 15, 2032 (collectively, the \"Acquisition USD Notes\"), as well as senior unsecured notes consisting of €1.0 billion\nin principal amount of 4.777% notes due July 19, 2026 and €500 million in principal amount of 5.337% notes due\nJanuary 19, 2029 (collectively, the \"Acquisition Euro Notes\" and, together with the Acquisition USD Notes, the\n\"Acquisition Notes\"), partially offset by the maturity of the 5.875% senior unsecured notes (\"5.875% Notes\") which\nwere repaid during the year ended December 31, 2021;\n• a decrease in share repurchases of our Common Stock of $983 million during the year ended December 31, 2022; and\n• an increase in net borrowings on short-term debt of $336 million, primarily due to borrowing under the senior\nunsecured revolving credit facility related to the M&M Acquisition in November 2022.\nIn addition, exchange rates had a favorable impact of $4 million on cash and cash equivalents and an unfavorable impact of\n$15 million on cash and cash equivalents for the years ended December 31, 2022 and 2021, respectively.",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_company_type",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "CELANESE CORPORATION",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_key_financials",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "9.7bn, gross profit 2.4bn",
      "golden_context": "Year Ended December 31, 2022 2021 Change (In $ millions, except percentages) Statement of Operations Data Net sales............................................................................................................................ 9,673 8,537 1,136 Gross profit .................................................................................................................... 2,380 2,682 (302) Selling, general and administrative (\"SG&A\") expenses................................................. (824) (633) (191) Other (charges) gains, net................................................................................................. (8) 3 (11) Operating profit (loss).................................................................................................... 1,378 1,946 (568) Equity in net earnings (loss) of affiliates.......................................................................... 220 146 74 Non-operating pension and other postretirement employee benefit (expense) income.... 17 106 (89) Interest expense................................................................................................................. (405) (91) (314) Interest income.................................................................................................................. 69 8 61 Dividend income - equity investments............................................................................. 133 147 (14) Earnings (loss) from continuing operations before tax.................................................. 1,421 2,248 (827) Earnings (loss) from continuing operations................................................................... 1,910 1,918 (8) Earnings (loss) from discontinued operations................................................................ (8) (22) 14 Net earnings (loss)..................................................................................................... 1,902 1,896 6 Net earnings (loss) attributable to Celanese Corporation.......................................... 1,894 1,890 4 Other Data Depreciation and amortization.......................................................................................... 462 371 91 SG&A expenses as a percentage of Net sales................................................................... 8.5 % 7.4 % Operating margin(1) ........................................................................................................... 14.2 % 22.8 % Other (charges) gains, net Restructuring.................................................................................................................. (6) (5) (1) Asset impairments.......................................................................................................... (14) (2) (12) Plant/office closures....................................................................................................... 12 10 2 Total Other (charges) gains, net ................................................................................ (8) 3 (11)",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_revenue",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "9.7bn",
      "golden_context": "Year Ended December 31, 2022 2021 Change (In $ millions, except percentages) Statement of Operations Data Net sales............................................................................................................................ 9,673 8,537 1,136 Gross profit .................................................................................................................... 2,380 2,682 (302) Selling, general and administrative (\"SG&A\") expenses................................................. (824) (633) (191) Other (charges) gains, net................................................................................................. (8) 3 (11) Operating profit (loss).................................................................................................... 1,378 1,946 (568) Equity in net earnings (loss) of affiliates.......................................................................... 220 146 74 Non-operating pension and other postretirement employee benefit (expense) income.... 17 106 (89) Interest expense................................................................................................................. (405) (91) (314) Interest income.................................................................................................................. 69 8 61 Dividend income - equity investments............................................................................. 133 147 (14) Earnings (loss) from continuing operations before tax.................................................. 1,421 2,248 (827) Earnings (loss) from continuing operations................................................................... 1,910 1,918 (8) Earnings (loss) from discontinued operations................................................................ (8) (22) 14 Net earnings (loss)..................................................................................................... 1,902 1,896 6 Net earnings (loss) attributable to Celanese Corporation.......................................... 1,894 1,890 4 Other Data Depreciation and amortization.......................................................................................... 462 371 91 SG&A expenses as a percentage of Net sales................................................................... 8.5 % 7.4 % Operating margin(1) ........................................................................................................... 14.2 % 22.8 % Other (charges) gains, net Restructuring.................................................................................................................. (6) (5) (1) Asset impairments.......................................................................................................... (14) (2) (12) Plant/office closures....................................................................................................... 12 10 2 Total Other (charges) gains, net ................................................................................ (8) 3 (11)",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_revenue_growth",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "9.7bn, 8.5 previous",
      "golden_context": "Year Ended\nDecember 31,\n2022 2021 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 9,673 8,537 1,136\nGross profit .................................................................................................................... 2,380 2,682 (302)\nSelling, general and administrative (\"SG&A\") expenses................................................. (824) (633) (191)\nOther (charges) gains, net................................................................................................. (8) 3 (11)\nOperating profit (loss).................................................................................................... 1,378 1,946 (568)\nEquity in net earnings (loss) of affiliates.......................................................................... 220 146 74\nNon-operating pension and other postretirement employee benefit (expense) income.... 17 106 (89)\nInterest expense................................................................................................................. (405) (91) (314)\nInterest income.................................................................................................................. 69 8 61\nDividend income - equity investments............................................................................. 133 147 (14)\nEarnings (loss) from continuing operations before tax.................................................. 1,421 2,248 (827)\nEarnings (loss) from continuing operations................................................................... 1,910 1,918 (8)\nEarnings (loss) from discontinued operations................................................................ (8) (22) 14\nNet earnings (loss)..................................................................................................... 1,902 1,896 6\nNet earnings (loss) attributable to Celanese Corporation.......................................... 1,894 1,890 4\nOther Data\nDepreciation and amortization.......................................................................................... 462 371 91\nSG&A expenses as a percentage of Net sales................................................................... 8.5 % 7.4 %\nOperating margin(1)\n........................................................................................................... 14.2 % 22.8 %\nOther (charges) gains, net\nRestructuring.................................................................................................................. (6) (5) (1)\nAsset impairments.......................................................................................................... (14) (2) (12)\nPlant/office closures....................................................................................................... 12 10 2\nTotal Other (charges) gains, net ................................................................................ (8) 3 (11) ",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000061_segments",
      "report_id": "ID_000061",
      "company_name": "Celanese",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Engineered Materials. Acetyl Chain.",
      "golden_context": "Business Segment Overview\nEffective December 31, 2022, we reorganized our operating and reportable segments to align with recent structural and\nmanagement reporting changes. The change reflects the resegmentation of the former Acetate Tow operating and reportable\nsegment into the Acetyl Chain operating and reportable segment. This reorganization reflects the culmination of a shift in\noperating strategy and organizational hierarchy, with a focus on integration, collaboration and maximization of value creation\nthrough its global optionality and integrated chain model of the underlying businesses.\nWe operate principally through two business segments: Engineered Materials and the Acetyl Chain. See Business Segments in\nthis Item 1. Business and Note 21 - Segment Information and Note 22 - Revenue Recognition in the accompanying consolidated\nfinancial statements for further information.",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000062_cash_flow",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow $1.9bn (or $1,899m), investing cash flow -$134m, financing cash flow -$1.5bn (or       \n  -$1,456m)",
      "golden_context": "Net Cash Provided by (Used in) Operating Activities\nNet cash provided by operating activities increased $80 million to $1.9 billion for the year ended December 31, 2023 compared\nto $1.8 billion for the same period in 2022, primarily due to:\n• favorable trade working capital of $642 million, primarily related to inventory reduction due to aligning inventory and\nproduction levels to demand and lower raw materials and inventory costs, and the timing of settlement of trade\npayables and collections of trade receivables during the year ended December 31, 2023; and\n• cash receipts of non-trade receivables of $346 million, primarily related to the receivable balances arising from the\nM&M Acquisition and other transaction activities;\npartially offset by:\n• an increase in cash interest paid of $639 million related primarily to the debt incurred to finance the M&M\nAcquisition; and\n• a decrease in earnings performance, net of the gain recognized on the formation of the Nutrinova joint venture (see\nNote 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for\nfurther information).\n• Net Cash Provided by (Used in) Investing Activities\nNet cash used in investing activities decreased $11.0 billion to $134 million for the year ended December 31, 2023 compared to\n$11.1 billion for the same period in 2022, primarily due to:\n• a cash outflow of $10.6 billion related to the M&M Acquisition in November 2022, which did not recur in the current\nyear. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial\nstatements for further information; and\n• a cash inflow of $461 million related to the formation of the Nutrinova joint venture (see Note 4 - Acquisitions,\nDispositions and Plant Closures in the accompanying consolidated financial statements for further information).\n• Net Cash Provided by (Used in) Financing Activities\nNet cash used in financing activities increased $11.7 billion to $1.5 billion for the year ended December 31, 2023 compared to\nnet cash provided by financing activities of $10.3 billion for the same period in 2022, primarily due to:\n• a decrease in net proceeds of long-term debt, primarily due to the Tender Offer (defined below) of $2.25 billion,\npayment in full of the 3-year Term Loans (defined below) of $750 million, repayment at maturity of the 1.125% senior\nunsecured notes during the year ended December 31, 2023, and issuance of the Acquisition Notes (defined below),\nborrowings under the 3-year and 5-year Term Loans (defined below) during the year ended December 31, 2022 (see\nNote 11 - Debt in the accompanying consolidated financial statements for further information), which did not recur in\nthe current year; and\n• an increase in net payments on short-term debt, primarily as a result of payments on our revolving credit facilities and\npayment in full of the 364-day Term Loans (defined below);",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000062_company_type",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "CELANESE CORPORATION\n(Exact Name of Registrant as Specified in its Charter)",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "no"
    },
    {
      "unique_key": "ID_000062_key_financials",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 10.9bn, net income 1.96bn, operating cash flow 1.9bn",
      "golden_context": "Results of Operations\nFinancial Highlights\nYear Ended\nDecember 31,\n2023 2022 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 10,940 9,673 1,267\nGross profit .................................................................................................................... 2,603 2,380 223\nSelling, general and administrative (\"SG&A\") expenses................................................. (1,075) (824) (251)\nOther (charges) gains, net................................................................................................. (68) (8) (60)\nGain (loss) on disposition of businesses and assets, net................................................... 505 5 500\nOperating profit (loss).................................................................................................... 1,687 1,378 309\nEquity in net earnings (loss) of affiliates.......................................................................... 102 220 (118)\nNon-operating pension and other postretirement employee benefit (expense) income.... (69) 17 (86)\nInterest expense................................................................................................................. (720) (405) (315)\nInterest income.................................................................................................................. 39 69 (30)\nDividend income - equity investments............................................................................. 126 133 (7)\nEarnings (loss) from continuing operations before tax.................................................. 1,183 1,421 (238)\nEarnings (loss) from continuing operations................................................................... 1,973 1,910 63\nEarnings (loss) from discontinued operations................................................................ (9) (8) (1)\nNet earnings (loss)..................................................................................................... 1,964 1,902 62\nNet earnings (loss) attributable to Celanese Corporation.......................................... 1,960 1,894 66\nOther Data\nDepreciation and amortization.......................................................................................... 706 462 244\nSG&A expenses as a percentage of Net sales................................................................... 9.8 % 8.5 %\nOperating margin(1)\n........................................................................................................... 15.4 % 14.2 %\nOther (charges) gains, net\nRestructuring.................................................................................................................. (52) (6) (46)\nAsset impairments.......................................................................................................... (15) (14) (1)\nPlant/office closures....................................................................................................... (1) 12 (13)\nTotal Other (charges) gains, net ................................................................................ (68) (8) (60) \n\n\n\"Net Cash Provided by (Used in) Operating Activities\nNet cash provided by operating activities increased $80 million to $1.9 billion for the year ended December 31, 2023 compared\nto $1.8 billion for the same period in 2022, primarily due to:\n• favorable trade working capital of $642 million, primarily related to inventory reduction due to aligning inventory and\nproduction levels to demand and lower raw materials and inventory costs, and the timing of settlement of trade\npayables and collections of trade receivables during the year ended December 31, 2023; and\n• cash receipts of non-trade receivables of $346 million, primarily related to the receivable balances arising from the\nM&M Acquisition and other transaction activities;\npartially offset by:\n• an increase in cash interest paid of $639 million related primarily to the debt incurred to finance the M&M\nAcquisition; and\n• a decrease in earnings performance, net of the gain recognized on the formation of the Nutrinova joint venture (see\nNote 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial statements for\nfurther information).\n• Net Cash Provided by (Used in) Investing Activities\nNet cash used in investing activities decreased $11.0 billion to $134 million for the year ended December 31, 2023 compared to\n$11.1 billion for the same period in 2022, primarily due to:\n• a cash outflow of $10.6 billion related to the M&M Acquisition in November 2022, which did not recur in the current\nyear. See Note 4 - Acquisitions, Dispositions and Plant Closures in the accompanying consolidated financial\nstatements for further information; and\n• a cash inflow of $461 million related to the formation of the Nutrinova joint venture (see Note 4 - Acquisitions,\nDispositions and Plant Closures in the accompanying consolidated financial statements for further information).\n• Net Cash Provided by (Used in) Financing Activities\nNet cash used in financing activities increased $11.7 billion to $1.5 billion for the year ended December 31, 2023 compared to\nnet cash provided by financing activities of $10.3 billion for the same period in 2022, primarily due to:\n• a decrease in net proceeds of long-term debt, primarily due to the Tender Offer (defined below) of $2.25 billion,\npayment in full of the 3-year Term Loans (defined below) of $750 million, repayment at maturity of the 1.125% senior\nunsecured notes during the year ended December 31, 2023, and issuance of the Acquisition Notes (defined below),\nborrowings under the 3-year and 5-year Term Loans (defined below) during the year ended December 31, 2022 (see\nNote 11 - Debt in the accompanying consolidated financial statements for further information), which did not recur in\nthe current year; and\n• an increase in net payments on short-term debt, primarily as a result of payments on our revolving credit facilities and\npayment in full of the 364-day Term Loans (defined below);\"\n\n\n\nPage 68\n\n\n\"Net sales 10.9bn, net income 1.96bn, operating cash flow 1.9b",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000062_revenue",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "10.9bn",
      "golden_context": "Results of Operations\nFinancial Highlights\nYear Ended\nDecember 31,\n2023 2022 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 10,940 9,673 1,267\nGross profit .................................................................................................................... 2,603 2,380 223\nSelling, general and administrative (\"SG&A\") expenses................................................. (1,075) (824) (251)\nOther (charges) gains, net................................................................................................. (68) (8) (60)\nGain (loss) on disposition of businesses and assets, net................................................... 505 5 500\nOperating profit (loss).................................................................................................... 1,687 1,378 309\nEquity in net earnings (loss) of affiliates.......................................................................... 102 220 (118)\nNon-operating pension and other postretirement employee benefit (expense) income.... (69) 17 (86)\nInterest expense................................................................................................................. (720) (405) (315)\nInterest income.................................................................................................................. 39 69 (30)\nDividend income - equity investments............................................................................. 126 133 (7)\nEarnings (loss) from continuing operations before tax.................................................. 1,183 1,421 (238)\nEarnings (loss) from continuing operations................................................................... 1,973 1,910 63\nEarnings (loss) from discontinued operations................................................................ (9) (8) (1)\nNet earnings (loss)..................................................................................................... 1,964 1,902 62\nNet earnings (loss) attributable to Celanese Corporation.......................................... 1,960 1,894 66\nOther Data\nDepreciation and amortization.......................................................................................... 706 462 244\nSG&A expenses as a percentage of Net sales................................................................... 9.8 % 8.5 %\nOperating margin(1)\n........................................................................................................... 15.4 % 14.2 %\nOther (charges) gains, net\nRestructuring.................................................................................................................. (52) (6) (46)\nAsset impairments.......................................................................................................... (15) (14) (1)\nPlant/office closures....................................................................................................... (1) 12 (13)\nTotal Other (charges) gains, net ................................................................................ (68) (8) (60) ",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000062_revenue_growth",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "10.9bn, 9.7bn previous",
      "golden_context": "Results of Operations\nFinancial Highlights\nYear Ended\nDecember 31,\n2023 2022 Change\n(In $ millions, except percentages)\nStatement of Operations Data\nNet sales............................................................................................................................ 10,940 9,673 1,267\nGross profit .................................................................................................................... 2,603 2,380 223\nSelling, general and administrative (\"SG&A\") expenses................................................. (1,075) (824) (251)\nOther (charges) gains, net................................................................................................. (68) (8) (60)\nGain (loss) on disposition of businesses and assets, net................................................... 505 5 500\nOperating profit (loss).................................................................................................... 1,687 1,378 309\nEquity in net earnings (loss) of affiliates.......................................................................... 102 220 (118)\nNon-operating pension and other postretirement employee benefit (expense) income.... (69) 17 (86)\nInterest expense................................................................................................................. (720) (405) (315)\nInterest income.................................................................................................................. 39 69 (30)\nDividend income - equity investments............................................................................. 126 133 (7)\nEarnings (loss) from continuing operations before tax.................................................. 1,183 1,421 (238)\nEarnings (loss) from continuing operations................................................................... 1,973 1,910 63\nEarnings (loss) from discontinued operations................................................................ (9) (8) (1)\nNet earnings (loss)..................................................................................................... 1,964 1,902 62\nNet earnings (loss) attributable to Celanese Corporation.......................................... 1,960 1,894 66\nOther Data\nDepreciation and amortization.......................................................................................... 706 462 244\nSG&A expenses as a percentage of Net sales................................................................... 9.8 % 8.5 %\nOperating margin(1)\n........................................................................................................... 15.4 % 14.2 %\nOther (charges) gains, net\nRestructuring.................................................................................................................. (52) (6) (46)\nAsset impairments.......................................................................................................... (15) (14) (1)\nPlant/office closures....................................................................................................... (1) 12 (13)\nTotal Other (charges) gains, net ................................................................................ (68) (8) (60) ",
      "eval_correct_all_info_there": "no",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000062_segments",
      "report_id": "ID_000062",
      "company_name": "Celanese",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Acetyl and Engineered Materials",
      "golden_context": "We operate principally through two business segments: Engineered Materials and the Acetyl Chain. S",
      "eval_correct_all_info_there": "yes",
      "eval_correct_no_hallucination": "yes"
    },
    {
      "unique_key": "ID_000063_cash_flow",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 912m, investing -940m, financing 111m, total cash flow 76m. It is also ok if 84m is given as a cash flow, as this is the cash flow before adjusting for exchange rate effects.",
      "golden_context": "Page 63-64:\n\nATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYears Ended December 31,\n2021 2020 2019\n(In thousands)\nCash flows from operating activities attributable to continuing operations:\nNet earnings $ 276,554 $ 221,609 $ 566,527\nAdd back: (earnings) loss from discontinued operations, net of tax (509) 366,070 (49,187)\nNet earnings from continuing operations 276,045 587,679 517,340\nAdjustments to reconcile net earnings from continuing operations to net cash\nprovided by operating activities attributable to continuing operations:\nStock-based compensation expense 146,816 102,268 89,724\nDepreciation 41,402 41,271 34,355\nAmortization of intangibles 28,559 7,525 8,727\nDeferred income taxes (57,969) 15,384 (12,753)\nOther adjustments, net 27,690 27,281 13,561\nChanges in assets and liabilities\nAccounts receivable (34,021) (24,213) (17,861)\nOther assets 1,743 (33,224) (24,162)\nAccounts payable and other liabilities 458,757 24,155 33,741\nIncome taxes payable and receivable (2,854) 16,913 (4,161)\nDeferred revenue 26,331 23,513 9,478\nNet cash provided by operating activities attributable to continuing operations 912,499 788,552 647,989\nCash flows from investing activities attributable to continuing operations:\nAcquisitions, net of cash (859,905) — (3,759)\nCapital expenditures (79,971) (42,376) (39,035)\nPurchases of investments — (9,115) —\nNet cash distribution related to Separation of IAC — (3,870,550) —\nOther, net 51 (90) 1,064\nNet cash used in investing activities attributable to continuing operations (939,825) (3,922,131) (41,730)\nCash flows from financing activities attributable to continuing operations:\nBorrowings under the Credit Facility — 20,000 40,000\nProceeds from Senior Notes offerings 500,000 1,000,000 350,000\nProceeds from Exchangeable Senior Notes offerings — — 1,150,000\nPrincipal payment on Senior Notes — (400,000) —\nPrincipal payments on Credit Facility — (20,000) (300,000)\nPayments to settle exchangeable notes (630,658) — —\nPurchase of exchangeable note hedges — — (303,428)\nProceeds from issuance of warrants — — 166,520\nProceeds from the settlement of exchangeable note hedges 1,089,592 — —\nPayments to settle warrants related to exchangeable notes (882,187) — —\nDebt issuance costs (7,124) (13,517) (27,815)\nPurchase of Former Match Group treasury stock — (132,868) (216,353)\nProceeds from stock offering — 1,421,801 —\nProceeds from issuance of common stock pursuant to stock-based awards 58,424 155,402 —\nWithholding taxes paid on behalf of employees on net settled stock-based\nawards (15,726) (211,958) (203,177)\nPurchase of noncontrolling interests (1,473) (15,827) (1,650)\nOther, net 258 (15,187) (73)\nNet cash provided by financing activities attributable to continuing operations 111,106 1,787,846 654,024\nTotal cash provided by (used in) continuing operations 83,780 (1,345,733) 1,260,283",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000063_company_type",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "On many pages",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000063_key_financials",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue 3bn, 278m net earnings attributable to Match Group, Inc shareholders",
      "golden_context": "Page 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2021 2020 2019\n(In thousands, except per share data)\nRevenue $ 2,983,277 $ 2,391,269 $ 2,051,258\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 839,308 635,833 527,184\nSelling and marketing expense 566,459 479,907 427,440\nGeneral and administrative expense 414,821 311,207 256,138\nProduct development expense 241,049 169,811 151,960\nDepreciation 41,402 41,271 34,355\nAmortization of intangibles 28,559 7,525 8,727\nTotal operating costs and expenses 2,131,598 1,645,554 1,405,804\nOperating income 851,679 745,715 645,454\nInterest expense (130,493) (130,624) (111,008)\nOther (expense) income, net (465,038) 15,861 (2,026)\nEarnings from continuing operations, before tax 256,148 630,952 532,420\nIncome tax benefit (provision) 19,897 (43,273) (15,080)\nNet earnings from continuing operations 276,045 587,679 517,340\nEarnings (loss) from discontinued operations, net of tax 509 (366,070) 49,187\nNet earnings 276,554 221,609 566,527\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nNet earnings attributable to Match Group, Inc. shareholders $ 277,723 $ 162,329 $ 453,838\nNet earnings per share from continuing operations:\nBasic $ 1.01 $ 2.36 $ 2.28\nDiluted $ 0.93 $ 2.09 $ 1.95\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.01 $ 0.73 $ 2.50\nDiluted $ 0.93 $ 0.66 $ 2.15\nStock-based compensation expense by function:\nCost of revenue $ 5,554 $ 4,201 $ 3,693\nSelling and marketing expense 7,941 5,141 5,112\nGeneral and administrative expense 81,420 59,174 42,863\nProduct development expense 51,901 33,752 38,056\nTotal stock-based compensation expense $ 146,816 $ 102,268 $ 89,724\n\nPage 60:\n\n\nNet earnings $ 276,554 $ 221,609 $ 566,527\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (142,608) 39,415 (9,961)\nChange in unrealized losses on available-for-sale securities — (1) (5)\nTotal other comprehensive (loss) income (142,608) 39,414 (9,966)\nComprehensive income 133,946 261,023 556,561\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 308 1,072 2,023\nChange in unrealized losses of available-for-sale debt securities\nattributable to noncontrolling interests — — 1\nComprehensive loss (income) attributable to noncontrolling\ninterests 1,477 (58,208) (110,665)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 135,423 $ 202,815 $ 445,896",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000063_revenue",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue 3bn",
      "golden_context": "Page 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2021 2020 2019\n(In thousands, except per share data)\nRevenue $ 2,983,277 $ 2,391,269 $ 2,051,258\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 839,308 635,833 527,184\nSelling and marketing expense 566,459 479,907 427,440\nGeneral and administrative expense 414,821 311,207 256,138\nProduct development expense 241,049 169,811 151,960\nDepreciation 41,402 41,271 34,355\nAmortization of intangibles 28,559 7,525 8,727\nTotal operating costs and expenses 2,131,598 1,645,554 1,405,804\nOperating income 851,679 745,715 645,454\nInterest expense (130,493) (130,624) (111,008)\nOther (expense) income, net (465,038) 15,861 (2,026)\nEarnings from continuing operations, before tax 256,148 630,952 532,420\nIncome tax benefit (provision) 19,897 (43,273) (15,080)\nNet earnings from continuing operations 276,045 587,679 517,340\nEarnings (loss) from discontinued operations, net of tax 509 (366,070) 49,187\nNet earnings 276,554 221,609 566,527\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nNet earnings attributable to Match Group, Inc. shareholders $ 277,723 $ 162,329 $ 453,838\nNet earnings per share from continuing operations:\nBasic $ 1.01 $ 2.36 $ 2.28\nDiluted $ 0.93 $ 2.09 $ 1.95\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.01 $ 0.73 $ 2.50\nDiluted $ 0.93 $ 0.66 $ 2.15\nStock-based compensation expense by function:\nCost of revenue $ 5,554 $ 4,201 $ 3,693\nSelling and marketing expense 7,941 5,141 5,112\nGeneral and administrative expense 81,420 59,174 42,863\nProduct development expense 51,901 33,752 38,056\nTotal stock-based compensation expense $ 146,816 $ 102,268 $ 89,724\n\nPage 60:\n\n\nNet earnings $ 276,554 $ 221,609 $ 566,527\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (142,608) 39,415 (9,961)\nChange in unrealized losses on available-for-sale securities — (1) (5)\nTotal other comprehensive (loss) income (142,608) 39,414 (9,966)\nComprehensive income 133,946 261,023 556,561\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 308 1,072 2,023\nChange in unrealized losses of available-for-sale debt securities\nattributable to noncontrolling interests — — 1\nComprehensive loss (income) attributable to noncontrolling\ninterests 1,477 (58,208) (110,665)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 135,423 $ 202,815 $ 445,896",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000063_revenue_growth",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 3bn, previous year 2.4bn",
      "golden_context": "Page 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2021 2020 2019\n(In thousands, except per share data)\nRevenue $ 2,983,277 $ 2,391,269 $ 2,051,258\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 839,308 635,833 527,184\nSelling and marketing expense 566,459 479,907 427,440\nGeneral and administrative expense 414,821 311,207 256,138\nProduct development expense 241,049 169,811 151,960\nDepreciation 41,402 41,271 34,355\nAmortization of intangibles 28,559 7,525 8,727\nTotal operating costs and expenses 2,131,598 1,645,554 1,405,804\nOperating income 851,679 745,715 645,454\nInterest expense (130,493) (130,624) (111,008)\nOther (expense) income, net (465,038) 15,861 (2,026)\nEarnings from continuing operations, before tax 256,148 630,952 532,420\nIncome tax benefit (provision) 19,897 (43,273) (15,080)\nNet earnings from continuing operations 276,045 587,679 517,340\nEarnings (loss) from discontinued operations, net of tax 509 (366,070) 49,187\nNet earnings 276,554 221,609 566,527\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nNet earnings attributable to Match Group, Inc. shareholders $ 277,723 $ 162,329 $ 453,838\nNet earnings per share from continuing operations:\nBasic $ 1.01 $ 2.36 $ 2.28\nDiluted $ 0.93 $ 2.09 $ 1.95\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.01 $ 0.73 $ 2.50\nDiluted $ 0.93 $ 0.66 $ 2.15\nStock-based compensation expense by function:\nCost of revenue $ 5,554 $ 4,201 $ 3,693\nSelling and marketing expense 7,941 5,141 5,112\nGeneral and administrative expense 81,420 59,174 42,863\nProduct development expense 51,901 33,752 38,056\nTotal stock-based compensation expense $ 146,816 $ 102,268 $ 89,724\n\nPage 60:\n\n\nNet earnings $ 276,554 $ 221,609 $ 566,527\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (142,608) 39,415 (9,961)\nChange in unrealized losses on available-for-sale securities — (1) (5)\nTotal other comprehensive (loss) income (142,608) 39,414 (9,966)\nComprehensive income 133,946 261,023 556,561\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 1,169 (59,280) (112,689)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 308 1,072 2,023\nChange in unrealized losses of available-for-sale debt securities\nattributable to noncontrolling interests — — 1\nComprehensive loss (income) attributable to noncontrolling\ninterests 1,477 (58,208) (110,665)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 135,423 $ 202,815 $ 445,896",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000063_segments",
      "report_id": "ID_000063",
      "company_name": "Match Group",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Tinder, Match, Hinge, Meetic, OkCupid, Pairs, PlentyOfFish, OurTime, Azar, Hakuna Live, Chispa, BLK, Upward",
      "golden_context": "Page 7:\n\nOur portfolio\nMaking connections with other people online is a highly personal endeavor and consumers have a wide\nvariety of preferences that determine what type of technologies they choose to make those connections. As a\nresult, our strategy focuses on a portfolio approach of various brands in order to reach a broad range of users.\nMany of our brands have a long legacy, while others emerged during the time when mobile devices proliferated.\nThe following is a list of our key brands:\nTinder. The Tinder® platform, incubated at the Company, was launched in 2012 and has since risen to scale\nand popularity faster than any other service in the online dating category, growing to over 10.6 million payers as\nof the fourth quarter of 2021. Tinder’s patented Swipe® technology has led to significant adoption, particularly\namong 18 to 30 year-old users, who were historically underserved by the online dating category. Tinder employs\na freemium model, through which users are allowed to enjoy many of the core features of Tinder for free,\nincluding limited use of the Swipe Right® feature with unlimited communication with other users. However, to\nenjoy premium features, such as unlimited use of the Swipe Right feature, a Tinder user must subscribe to one of\nseveral subscription offerings: Tinder Plus®, launched in early 2015; Tinder Gold®, which was launched in late\nsummer 2017; or Tinder Platinum®, launched in late 2020. Tinder users and subscribers may also pay for certain\npremium features, such as Super Likes™ and Boosts, on a pay-per-use basis. In 2021, Tinder launched Tinder\nExplore™, a hub within the app that hosts completely new, interactive ways to use Tinder, such as Hot Takes,\nVibes, and the Swipe Night™ interactive series.\n6\nTable of Contents\nMatch. The Match® platform was launched in 1995 and helped create the online dating category with the\nability to search profiles and receive algorithmic recommendations. Match has since introduced a softer paywall\nto allow limited free access to messaging and other features before requiring a subscription, as well as a one-to-\none real-time video feature. Additionally, Match offers its subscribers a higher level of service than most of our\nother brands, including access to date coaching services and profile reviews. Match is a brand that focuses on\nusers with a higher level of intent to enter into a serious relationship and its services and marketing are designed\nto reinforce that purpose.\nHinge. Hinge® was launched in 2012 and has grown to be a popular app for relationship-minded individuals,\nparticularly among the millennial and younger generations, in the United States, the United Kingdom, Ireland,\nand Australia. Hinge is a mobile-only experience and employs a freemium model. Hinge focuses on users with a\nhigher level of intent to enter into a serious relationship and its services are designed to reinforce that purpose.\nIn 2021, Hinge launched Video Prompts, Voice Prompts, and Voice Notes. With these new features, users can\nbetter showcase who they are through text, photos, video, and now, voice at different points in their dating\njourney.\nMeetic. Meetic®, a leading European online dating brand based in France, was launched in 2001. Meetic is\nthe most recognized dating app for singles over age 35 in Europe. Meetic is a brand that focuses on users with a\nhigher level of intent to enter into a serious relationship and its service and marketing are designed to reinforce\nthat purpose. In 2021, Meetic began offering a softer paywall revenue model. Meetic recently introduced online\naudio and video chat rooms into the Meetic experience.\nOkCupid. OkCupid® was launched in 2004 and has attracted users through a Q&A approach to the dating\ncategory. OkCupid relies on a freemium model and has a loyal, culturally progressive user base predominately\nlocated in larger metropolitan areas in English-speaking markets, with an increasing presence in other global\nmarkets such as Israel, Germany, and Turkey.\nPairs. Pairs™ was launched in 2012 and is a leading provider of dating services in Japan, with a presence in\nTaiwan and South Korea. Pairs is a dating platform that was specifically designed to address social barriers\ngenerally associated with the use of dating services in Eastern Asian countries, particularly Japan.\nPlentyOfFish. PlentyOfFish® was launched in 2003. Among its distinguishing features is the ability to both\nsearch profiles and receive algorithmic recommendations. PlentyOfFish has grown in popularity over the years\nand relies on a freemium model. PlentyOfFish has broad appeal in the United States, Canada, the United\nKingdom, and a number of other international markets. In 2020, PlentyOfFish launched POF Live™, a one-to-\nmany live streaming video feature that allows users to engage with other users at PlentyOfFish in a new and\ndifferent format from traditional dating profiles.\nOurTime. OurTime® is the largest community of singles over age 50 of any dating service. We offer this\nservice in the United States, Canada, and a number of European markets.\nAzar. Azar® was launched in 2014 and acquired in 2021 through our acquisition of Hyperconnect. Azar is a\none-to-one video chat service powered by real-time language translations that allow users to meet and interact\nwith a variety of people across the globe in their native language. Azar is primarily focused in the APAC and\nOther regions, with growth in Western Europe.\nHakuna Live. Hakuna™ Live was launched in 2019 and acquired in 2021 through our acquisition of\nHyperconnect. Hakuna Live is an interactive, social app that allows for one-to-many live streaming experiences.\nHakuna offers virtual gifting and its userbase is predominantly located in the APAC and Other regions.\nIn addition to the brands above, our portfolio includes brands such as Chispa™, BLK®, and Upward®, each of\nwhich brings the Swipe® feature made popular by Tinder to the Latino, Black, and Christian communities,\nrespectively.\nWe strive to empower individual brand leaders with the authority and incentives to grow their respective\nbrands. Our brands compete with each other and with third-party businesses on brand characteristics, service\nfeatures, and business model.\nWe also work to apply a centralized discipline to our portfolio of brands and share best practices across our\nbrands in order to quickly introduce new services and features, optimize marketing, increase growth, reduce\ncosts, improve user safety, and maximize profitability. Additionally, we centralize certain other administrative\n7\nTable of Contents\nfunctions, such as legal, accounting, finance, and tax. We attempt to centrally facilitate excellence and efficiency\nacross the entire portfolio by:\n• centralizing operational functions across certain brands where we have strength in personnel and\nsufficient commonality of business interest (for example, ad sales, online marketing, and information\ntechnology are centralized across some, but not all, brands);\n• developing talent across the portfolio to allow for development of specific proficiencies and promoting\ncareer advancement while maintaining the ability to deploy the best talent in the most critical positions\nacross the company at any given time; and\n• sharing analytics to leverage services and marketing successes across our businesses rapidly for\ncompetitive advantage.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_cash_flow",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating 523m, Investing -72m, financing -689m, total cash flow -243m. Cash flow of -235m is also correct, as this is the cash flow before adjusting for exchange rate effects.",
      "golden_context": "Page 62:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYears Ended December 31,\n2022 2021 2020\n(In thousands)\nCash flows from operating activities attributable to continuing operations:\nNet earnings $ 359,919 $ 276,554 $ 221,609\nAdd back: loss (earnings) from discontinued operations, net of tax 2,211 (509) 366,070\nNet earnings from continuing operations 362,130 276,045 587,679\nAdjustments to reconcile net earnings from continuing operations to net cash\nprovided by operating activities attributable to continuing operations:\nStock-based compensation expense 203,880 146,816 102,268\nDepreciation 43,594 41,402 41,271\nImpairment and amortization of intangibles 366,257 28,559 7,525\nDeferred income taxes (29,953) (57,969) 15,384\nOther adjustments, net 6,998 27,690 27,281\nChanges in assets and liabilities\nAccounts receivable (6,669) (34,021) (24,213)\nOther assets 59,584 1,743 (33,224)\nAccounts payable and other liabilities (472,610) 458,757 24,155\nIncome taxes payable and receivable (1,054) (2,854) 16,913\nDeferred revenue (6,469) 26,331 23,513\nNet cash provided by operating activities attributable to continuing operations 525,688 912,499 788,552\nCash flows from investing activities attributable to continuing operations:\nCash used in business combinations, net of cash acquired (25,681) (859,905) —\nCapital expenditures (49,125) (79,971) (42,376)\nPurchases of investments — — (9,115)\nNet cash distribution related to Separation of IAC — — (3,870,550)\nOther, net 3,104 51 (90)\nNet cash used in investing activities attributable to continuing operations (71,702) (939,825) (3,922,131)\nCash flows from financing activities attributable to continuing operations:\nBorrowings under the Credit Facility — — 20,000\nProceeds from Senior Notes offerings — 500,000 1,000,000\nPrincipal payment on Senior Notes — — (400,000)\nPrincipal payments on Credit Facility — — (20,000)\nPayments to settle exchangeable notes (176,310) (630,658) —\nProceeds from the settlement of exchangeable note hedges 75,864 1,089,592 —\nPayments to settle warrants related to exchangeable notes (7,482) (882,187) —\nDebt issuance costs — (7,124) (13,517)\nPurchase of Former Match Group treasury stock — — (132,868)\nProceeds from stock offering — — 1,421,801\nProceeds from issuance of common stock pursuant to stock-based awards 20,485 58,424 155,402\nWithholding taxes paid on behalf of employees on net settled stock-based\nawards (109,256) (15,726) (211,958)\nPurchase of treasury stock (482,049) — —\nPurchase of noncontrolling interests (10,554) (1,473) (15,827)\nOther, net 129 258 (15,187)\nNet cash (used in) provided by financing activities attributable to continuing\noperations (689,173) 111,106 1,787,846\nTotal cash (used in) provided by continuing operations (235,187) 83,780 (1,345,733)\nNet cash provided by operating activities attributable to discontinued operations — — 13,630\nNet cash used in investing activities attributable to discontinued operations — — (963,420)\nNet cash used in financing activities attributable to discontinued operations — — (110,959)\nTotal cash used in discontinued operations — — (1,060,749)\nEffect of exchange rate changes on cash, cash equivalents, and restricted cash (7,809) (7,570) 5,426\nNet (decrease) increase in cash, cash equivalents, and restricted cash (242,996) 76,210 (2,401,056)\nCash, cash equivalents, and restricted cash at beginning of period 815,512 739,302 3,140,358\nCash, cash equivalents, and restricted cash at end of period $ 572,516 $ 815,512 $ 739,302\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_company_type",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Present on many pages.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_key_financials",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue 3.2bn, Net earnings per share 1.29 basic, 1.25 diluted, net earnings 360m, net earnings attributable to Match Group, Inc, shareholders 362m.",
      "golden_context": "Page 58-59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands, except per share data)\nRevenue $ 3,188,843 $ 2,983,277 $ 2,391,269\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 959,963 839,308 635,833\nSelling and marketing expense 534,517 566,459 479,907\nGeneral and administrative expense 435,868 414,821 311,207\nProduct development expense 333,639 241,049 169,811\nDepreciation 43,594 41,402 41,271\nImpairment and amortization of intangibles 366,257 28,559 7,525\nTotal operating costs and expenses 2,673,838 2,131,598 1,645,554\nOperating income 515,005 851,679 745,715\nInterest expense (145,547) (130,493) (130,624)\nOther income (expense), net 8,033 (465,038) 15,861\nEarnings from continuing operations, before tax 377,491 256,148 630,952\nIncome tax (provision) benefit (15,361) 19,897 (43,273)\nNet earnings from continuing operations 362,130 276,045 587,679\n(Loss) earnings from discontinued operations, net of tax (2,211) 509 (366,070)\nNet earnings 359,919 276,554 221,609\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nNet earnings attributable to Match Group, Inc. shareholders $ 361,946 $ 277,723 $ 162,329\nNet earnings per share from continuing operations:\nBasic $ 1.29 $ 1.01 $ 2.36\nDiluted $ 1.25 $ 0.93 $ 2.09\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.28 $ 1.01 $ 0.73\nDiluted $ 1.24 $ 0.93 $ 0.66\nStock-based compensation expense by function:\nCost of revenue $ 5,903 $ 5,554 $ 4,201\nSelling and marketing expense 7,608 7,941 5,141\nGeneral and administrative expense 106,133 81,420 59,174\nProduct development expense 84,236 51,901 33,752\nTotal stock-based compensation expense $ 203,880 $ 146,816 $ 102,268\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n57\nTable of Contents\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands)\nNet earnings $ 359,919 $ 276,554 $ 221,609\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (146,361) (142,608) 39,415\nChange in unrealized losses on available-for-sale securities — — (1)\nTotal other comprehensive (loss) income (146,361) (142,608) 39,414\nComprehensive income 213,558 133,946 261,023\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 933 308 1,072\nComprehensive loss (income) attributable to noncontrolling\ninterests 2,960 1,477 (58,208)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 216,518 $ 135,423 $ 202,815\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_revenue",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "3.2bn",
      "golden_context": "Page 58-59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands, except per share data)\nRevenue $ 3,188,843 $ 2,983,277 $ 2,391,269\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 959,963 839,308 635,833\nSelling and marketing expense 534,517 566,459 479,907\nGeneral and administrative expense 435,868 414,821 311,207\nProduct development expense 333,639 241,049 169,811\nDepreciation 43,594 41,402 41,271\nImpairment and amortization of intangibles 366,257 28,559 7,525\nTotal operating costs and expenses 2,673,838 2,131,598 1,645,554\nOperating income 515,005 851,679 745,715\nInterest expense (145,547) (130,493) (130,624)\nOther income (expense), net 8,033 (465,038) 15,861\nEarnings from continuing operations, before tax 377,491 256,148 630,952\nIncome tax (provision) benefit (15,361) 19,897 (43,273)\nNet earnings from continuing operations 362,130 276,045 587,679\n(Loss) earnings from discontinued operations, net of tax (2,211) 509 (366,070)\nNet earnings 359,919 276,554 221,609\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nNet earnings attributable to Match Group, Inc. shareholders $ 361,946 $ 277,723 $ 162,329\nNet earnings per share from continuing operations:\nBasic $ 1.29 $ 1.01 $ 2.36\nDiluted $ 1.25 $ 0.93 $ 2.09\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.28 $ 1.01 $ 0.73\nDiluted $ 1.24 $ 0.93 $ 0.66\nStock-based compensation expense by function:\nCost of revenue $ 5,903 $ 5,554 $ 4,201\nSelling and marketing expense 7,608 7,941 5,141\nGeneral and administrative expense 106,133 81,420 59,174\nProduct development expense 84,236 51,901 33,752\nTotal stock-based compensation expense $ 203,880 $ 146,816 $ 102,268\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n57\nTable of Contents\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands)\nNet earnings $ 359,919 $ 276,554 $ 221,609\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (146,361) (142,608) 39,415\nChange in unrealized losses on available-for-sale securities — — (1)\nTotal other comprehensive (loss) income (146,361) (142,608) 39,414\nComprehensive income 213,558 133,946 261,023\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 933 308 1,072\nComprehensive loss (income) attributable to noncontrolling\ninterests 2,960 1,477 (58,208)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 216,518 $ 135,423 $ 202,815\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_revenue_growth",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "3.2bn, previous year 3bn.",
      "golden_context": "Page 58-59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands, except per share data)\nRevenue $ 3,188,843 $ 2,983,277 $ 2,391,269\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 959,963 839,308 635,833\nSelling and marketing expense 534,517 566,459 479,907\nGeneral and administrative expense 435,868 414,821 311,207\nProduct development expense 333,639 241,049 169,811\nDepreciation 43,594 41,402 41,271\nImpairment and amortization of intangibles 366,257 28,559 7,525\nTotal operating costs and expenses 2,673,838 2,131,598 1,645,554\nOperating income 515,005 851,679 745,715\nInterest expense (145,547) (130,493) (130,624)\nOther income (expense), net 8,033 (465,038) 15,861\nEarnings from continuing operations, before tax 377,491 256,148 630,952\nIncome tax (provision) benefit (15,361) 19,897 (43,273)\nNet earnings from continuing operations 362,130 276,045 587,679\n(Loss) earnings from discontinued operations, net of tax (2,211) 509 (366,070)\nNet earnings 359,919 276,554 221,609\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nNet earnings attributable to Match Group, Inc. shareholders $ 361,946 $ 277,723 $ 162,329\nNet earnings per share from continuing operations:\nBasic $ 1.29 $ 1.01 $ 2.36\nDiluted $ 1.25 $ 0.93 $ 2.09\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 1.28 $ 1.01 $ 0.73\nDiluted $ 1.24 $ 0.93 $ 0.66\nStock-based compensation expense by function:\nCost of revenue $ 5,903 $ 5,554 $ 4,201\nSelling and marketing expense 7,608 7,941 5,141\nGeneral and administrative expense 106,133 81,420 59,174\nProduct development expense 84,236 51,901 33,752\nTotal stock-based compensation expense $ 203,880 $ 146,816 $ 102,268\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n57\nTable of Contents\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2022 2021 2020\n(In thousands)\nNet earnings $ 359,919 $ 276,554 $ 221,609\nOther comprehensive (loss) income, net of tax\nChange in foreign currency translation adjustment (146,361) (142,608) 39,415\nChange in unrealized losses on available-for-sale securities — — (1)\nTotal other comprehensive (loss) income (146,361) (142,608) 39,414\nComprehensive income 213,558 133,946 261,023\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss (earnings) attributable to noncontrolling interests 2,027 1,169 (59,280)\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests 933 308 1,072\nComprehensive loss (income) attributable to noncontrolling\ninterests 2,960 1,477 (58,208)\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 216,518 $ 135,423 $ 202,815\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000064_segments",
      "report_id": "ID_000064",
      "company_name": "Match Group",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Tinder, Hinge, Match, Meetic, OkCupid, Pairs,Plenty Of Fish, Azar, Hakuna, The League, Chispa, BLK",
      "golden_context": "Page 7-8:\n\nOur portfolio\nThe following is a list of our key brands:\nTinder. The Tinder® platform, incubated at the Company, was launched in 2012 and has since risen to scale\nand popularity faster than any other service in the online dating category, growing to over 10.8 million payers as\nof the fourth quarter of 2022. Tinder’s patented Swipe® technology has led to significant adoption, particularly\namong 18 to 30 year-old users, who were historically underserved by the online dating category. Tinder employs\na freemium model, through which users are allowed to enjoy many of the core features of Tinder for free,\nincluding limited use of the Swipe Right® feature with unlimited communication with other users. However, to\nenjoy premium features, such as unlimited use of the Swipe Right feature, a Tinder user must subscribe to one of\nseveral subscription offerings: Tinder Plus®, Tinder Gold®, or Tinder Platinum®. Tinder users and subscribers may\nalso pay for certain premium features, such as Super Likes™ and Boosts, on a pay-per-use basis. Tinder Explore is\nan additional feature available for users to interact with others in ways that are non-traditional to Tinder.\nHinge. Hinge® was launched in 2012 and has grown to be a popular app for relationship-minded individuals,\nparticularly among the millennial and younger generations, in English speaking countries. Hinge has more\nrecently expanded into additional European markets such as Germany and the Nordics. Hinge is a mobile-only\nexperience and employs a freemium model. Hinge focuses on users with a higher level of intent to enter into a\nrelationship and its services are designed to reinforce that purpose. In 2021, Hinge launched Video Prompts,\nVoice Prompts, and Voice Notes. With these features, users can better showcase who they are through text,\nphotos, video, and now, voice at different points in their dating journey. Hinge offers two premium subscription\nofferings as of February 2023: Hinge+ and HingeX.\nMatch. The Match® platform was launched in 1995 and helped create the online dating category with the\nability to search profiles and receive algorithmic recommendations, and it now also offers a one-to-one real-time\nvideo feature. Additionally, Match offers its subscribers a higher level of service than most of our other brands,\nincluding access to date coaching services and profile reviews. Match is a brand that focuses on users with a\nhigher level of intent to enter into a serious relationship and its services and marketing are designed to reinforce\nthat purpose.\nMeetic. Meetic®, a leading European online dating brand based in France, was launched in 2001. Meetic is\nthe most recognized dating app for singles over age 35 in Europe. Meetic is a brand that focuses on users with a\nhigher level of intent to enter into a serious relationship and its service and marketing are designed to reinforce\nthat purpose. Meetic recently introduced online audio and video chat rooms into the Meetic experience.\n5\nTable of Contents\nOkCupid. The OkCupid® service was launched in 2004 and has attracted users through a Q&A approach to\nthe dating category. OkCupid relies on a freemium model and has a loyal, culturally progressive user base\npredominately located in larger metropolitan areas in English-speaking markets.\nPairs. The Pairs™ app was launched in 2012 and is a leading provider of online dating services in Japan, with\na presence in Taiwan and South Korea. Pairs is a dating platform that was specifically designed to address social\nbarriers generally associated with the use of dating services in Japan.\nPlenty Of Fish. The Plenty Of Fish® dating service launched in 2003. Among its distinguishing features is the\nability to both search profiles and receive algorithmic recommendations. Plenty Of Fish has grown in popularity\nover the years and relies on a freemium model. Plenty Of Fish has broad appeal in the United States, Canada, the\nUnited Kingdom, and a number of other international markets. In 2020, Plenty Of Fish launched POF Live™, a\none-to-many live streaming video feature that allows users to engage with other users at Plenty Of Fish in a\ndifferent format from traditional dating profiles.\nAzar. Azar® was launched in 2014 and acquired in 2021 through our acquisition of Hyperconnect. Azar is a\none-to-one video chat service powered by real-time language translations that allow users to meet and interact\nwith a variety of people across the globe in their native language. Azar is primarily focused in the APAC and\nOther region, with growth in Western Europe. Azar added live streaming in 2022.\nHakuna. The Hakuna® service was launched in 2019 and acquired in 2021 through our acquisition of\nHyperconnect. Hakuna Live is an interactive, social app that allows for one-to-many live streaming experiences.\nHakuna offers virtual gifting and its userbase is predominantly located in the APAC and Other region.\nThe League. The League® dating app was launched in 2014 and acquired in 2022. The League is a dating\nplatform focused on career-oriented individuals, which requires users to apply and be accepted prior to using\nthe app.\nIn addition to the brands above, our portfolio includes brands such as Chispa™ and BLK®, which bring the\nSwipe® feature made popular by Tinder to the Latino and Black communities, respectively.\nWe strive to empower individual brand leaders with the authority and incentives to grow their respective\nbrands. Our brands compete with each other and with third-party businesses on brand characteristics, service\nfeatures, and business model, however we also work to apply a centralized discipline and share best practices\nacross our brands in order to quickly introduce new services and features, optimize marketing, increase growth,\nreduce costs, improve user safety, and maximize profitability. Additionally, we centralize certain other\nadministrative functions, such as legal, accounting, finance, treasury, real estate and facilities, and tax. We\nattempt to centrally facilitate excellence and efficiency across the entire portfolio by:\n• centralizing operational functions across certain brands where we have strength in personnel and\nsufficient commonality of business interest (for example, ad sales, online marketing, and business\ntechnology are centralized across some, but not all, brands);\n• developing talent across the portfolio to allow for development of specific proficiencies and promoting\ncareer advancement while maintaining the ability to deploy the best talent in the most critical positions\nacross the company at any given time; and\n• sharing analytics to leverage services and marketing successes across our businesses rapidly for\ncompetitive advantage",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_cash_flow",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "897m operating cash flow, -77m investing cash flow, -534m financing cash flow, 290m total cash flow",
      "golden_context": "Page 62:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYears Ended December 31,\n2023 2022 2021\n(In thousands)\nCash flows from operating activities attributable to continuing operations:\nNet earnings $ 651,472 $ 359,919 $ 276,554\nAdd back: loss (earnings) from discontinued operations, net of tax — 2,211 (509)\nNet earnings from continuing operations 651,472 362,130 276,045\nAdjustments to reconcile net earnings from continuing operations to net cash\nprovided by operating activities attributable to continuing operations:\nStock-based compensation expense 232,099 203,880 146,816\nDepreciation 61,807 43,594 41,402\nImpairments and amortization of intangibles 47,731 366,257 28,559\nDeferred income taxes 26,612 (29,953) (57,969)\nOther adjustments, net 9,932 6,998 27,690\nChanges in assets and liabilities\nAccounts receivable (107,412) (6,669) (34,021)\nOther assets 25,055 59,584 1,743\nAccounts payable and other liabilities (5,961) (472,610) 458,757\nIncome taxes payable and receivable (3,337) (1,054) (2,854)\nDeferred revenue (41,207) (6,469) 26,331\nNet cash provided by operating activities attributable to continuing operations 896,791 525,688 912,499\nCash flows from investing activities attributable to continuing operations:\nCash used in business combinations, net of cash acquired (11,567) (25,681) (859,905)\nCapital expenditures (67,412) (49,125) (79,971)\nOther, net 2,398 3,104 51\nNet cash used in investing activities attributable to continuing operations (76,581) (71,702) (939,825)\nCash flows from financing activities attributable to continuing operations:\nProceeds from Senior Notes offerings — — 500,000\nPayments to settle exchangeable notes — (176,310) (630,658)\nProceeds from the settlement of exchangeable note hedges — 75,864 1,089,592\nPayments to settle warrants related to exchangeable notes — (7,482) (882,187)\nDebt issuance costs — — (7,124)\nProceeds from issuance of common stock pursuant to stock-based awards 19,916 20,485 58,424\nWithholding taxes paid on behalf of employees on net settled stock-based\nawards (5,933) (109,256) (15,726)\nPurchase of treasury stock (546,198) (482,049) —\nPurchase of noncontrolling interests (1,872) (10,554) (1,473)\nOther, net 19 129 258\nNet cash (used in) provided by financing activities attributable to continuing\noperations (534,068) (689,173) 111,106\nTotal cash provided by (used in) continuing operations 286,142 (235,187) 83,780\nEffect of exchange rate changes on cash, cash equivalents, and restricted cash 3,782 (7,809) (7,570)\nNet increase (decrease) in cash, cash equivalents, and restricted cash 289,924 (242,996) 76,210\nCash, cash equivalents, and restricted cash at beginning of period 572,516 815,512 739,302\nCash, cash equivalents, and restricted cash at end of period $ 862,440 $ 572,516 $ 815,512\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_company_type",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "On many pages",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_key_financials",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "revenue 3.4bn.\n\nNet earnings 651m, net earnings attributable to Match Group, Inc. shareholders 651m",
      "golden_context": "Page 58:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands, except per share data)\nRevenue $ 3,364,504 $ 3,188,843 $ 2,983,277\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 954,014 959,963 839,308\nSelling and marketing expense 586,262 534,517 566,459\nGeneral and administrative expense 413,609 435,868 414,821\nProduct development expense 384,185 333,639 241,049\nDepreciation 61,807 43,594 41,402\nImpairments and amortization of intangibles 47,731 366,257 28,559\nTotal operating costs and expenses 2,447,608 2,673,838 2,131,598\nOperating income 916,896 515,005 851,679\nInterest expense (159,887) (145,547) (130,493)\nOther income (expense), net 19,772 8,033 (465,038)\nEarnings from continuing operations, before tax 776,781 377,491 256,148\nIncome tax (provision) benefit (125,309) (15,361) 19,897\nNet earnings from continuing operations 651,472 362,130 276,045\n(Loss) earnings from discontinued operations, net of tax — (2,211) 509\nNet earnings 651,472 359,919 276,554\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nNet earnings attributable to Match Group, Inc. shareholders $ 651,539 $ 361,946 $ 277,723\nNet earnings per share from continuing operations:\nBasic $ 2.36 $ 1.29 $ 1.01\nDiluted $ 2.26 $ 1.25 $ 0.93\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 2.36 $ 1.28 $ 1.01\nDiluted $ 2.26 $ 1.24 $ 0.93\nStock-based compensation expense by function:\nCost of revenue $ 5,934 $ 5,903 $ 5,554\nSelling and marketing expense 9,730 7,608 7,941\nGeneral and administrative expense 98,510 106,133 81,420\nProduct development expense 117,925 84,236 51,901\nTotal stock-based compensation expense $ 232,099 $ 203,880 $ 146,816\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\nPage 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands)\nNet earnings $ 651,472 $ 359,919 $ 276,554\nOther comprehensive loss, net of tax\nChange in foreign currency translation adjustment (16,279) (146,361) (142,608)\nTotal other comprehensive loss (16,279) (146,361) (142,608)\nComprehensive income 635,193 213,558 133,946\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests (10) 933 308\nComprehensive loss attributable to noncontrolling interests 57 2,960 1,477\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 635,250 $ 216,518 $ 135,423\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_revenue",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "3.4bn",
      "golden_context": "Page 58:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands, except per share data)\nRevenue $ 3,364,504 $ 3,188,843 $ 2,983,277\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 954,014 959,963 839,308\nSelling and marketing expense 586,262 534,517 566,459\nGeneral and administrative expense 413,609 435,868 414,821\nProduct development expense 384,185 333,639 241,049\nDepreciation 61,807 43,594 41,402\nImpairments and amortization of intangibles 47,731 366,257 28,559\nTotal operating costs and expenses 2,447,608 2,673,838 2,131,598\nOperating income 916,896 515,005 851,679\nInterest expense (159,887) (145,547) (130,493)\nOther income (expense), net 19,772 8,033 (465,038)\nEarnings from continuing operations, before tax 776,781 377,491 256,148\nIncome tax (provision) benefit (125,309) (15,361) 19,897\nNet earnings from continuing operations 651,472 362,130 276,045\n(Loss) earnings from discontinued operations, net of tax — (2,211) 509\nNet earnings 651,472 359,919 276,554\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nNet earnings attributable to Match Group, Inc. shareholders $ 651,539 $ 361,946 $ 277,723\nNet earnings per share from continuing operations:\nBasic $ 2.36 $ 1.29 $ 1.01\nDiluted $ 2.26 $ 1.25 $ 0.93\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 2.36 $ 1.28 $ 1.01\nDiluted $ 2.26 $ 1.24 $ 0.93\nStock-based compensation expense by function:\nCost of revenue $ 5,934 $ 5,903 $ 5,554\nSelling and marketing expense 9,730 7,608 7,941\nGeneral and administrative expense 98,510 106,133 81,420\nProduct development expense 117,925 84,236 51,901\nTotal stock-based compensation expense $ 232,099 $ 203,880 $ 146,816\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\nPage 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands)\nNet earnings $ 651,472 $ 359,919 $ 276,554\nOther comprehensive loss, net of tax\nChange in foreign currency translation adjustment (16,279) (146,361) (142,608)\nTotal other comprehensive loss (16,279) (146,361) (142,608)\nComprehensive income 635,193 213,558 133,946\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests (10) 933 308\nComprehensive loss attributable to noncontrolling interests 57 2,960 1,477\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 635,250 $ 216,518 $ 135,423\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_revenue_growth",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "3.4bn currently, 3.2bn the year before",
      "golden_context": "Page 58:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands, except per share data)\nRevenue $ 3,364,504 $ 3,188,843 $ 2,983,277\nOperating costs and expenses:\nCost of revenue (exclusive of depreciation shown separately\nbelow) 954,014 959,963 839,308\nSelling and marketing expense 586,262 534,517 566,459\nGeneral and administrative expense 413,609 435,868 414,821\nProduct development expense 384,185 333,639 241,049\nDepreciation 61,807 43,594 41,402\nImpairments and amortization of intangibles 47,731 366,257 28,559\nTotal operating costs and expenses 2,447,608 2,673,838 2,131,598\nOperating income 916,896 515,005 851,679\nInterest expense (159,887) (145,547) (130,493)\nOther income (expense), net 19,772 8,033 (465,038)\nEarnings from continuing operations, before tax 776,781 377,491 256,148\nIncome tax (provision) benefit (125,309) (15,361) 19,897\nNet earnings from continuing operations 651,472 362,130 276,045\n(Loss) earnings from discontinued operations, net of tax — (2,211) 509\nNet earnings 651,472 359,919 276,554\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nNet earnings attributable to Match Group, Inc. shareholders $ 651,539 $ 361,946 $ 277,723\nNet earnings per share from continuing operations:\nBasic $ 2.36 $ 1.29 $ 1.01\nDiluted $ 2.26 $ 1.25 $ 0.93\nNet earnings per share attributable to Match Group, Inc.\nshareholders:\nBasic $ 2.36 $ 1.28 $ 1.01\nDiluted $ 2.26 $ 1.24 $ 0.93\nStock-based compensation expense by function:\nCost of revenue $ 5,934 $ 5,903 $ 5,554\nSelling and marketing expense 9,730 7,608 7,941\nGeneral and administrative expense 98,510 106,133 81,420\nProduct development expense 117,925 84,236 51,901\nTotal stock-based compensation expense $ 232,099 $ 203,880 $ 146,816\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.\n\nPage 59:\n\nMATCH GROUP, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS\nYears Ended December 31,\n2023 2022 2021\n(In thousands)\nNet earnings $ 651,472 $ 359,919 $ 276,554\nOther comprehensive loss, net of tax\nChange in foreign currency translation adjustment (16,279) (146,361) (142,608)\nTotal other comprehensive loss (16,279) (146,361) (142,608)\nComprehensive income 635,193 213,558 133,946\nComprehensive loss (income) attributable to noncontrolling\ninterests:\nNet loss attributable to noncontrolling interests 67 2,027 1,169\nChange in foreign currency translation adjustment attributable\nto noncontrolling interests (10) 933 308\nComprehensive loss attributable to noncontrolling interests 57 2,960 1,477\nComprehensive income attributable to Match Group, Inc.\nshareholders $ 635,250 $ 216,518 $ 135,423\nThe accompanying Notes to Consolidated Financial Statements are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000065_segments",
      "report_id": "ID_000065",
      "company_name": "Match Group",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Tinder, Hinge, Match Group Asia (MG Asia), Pairs, Azar, Evergreen & Emerging (Match, Meetic, OkCupic, Plenty Of Fish, BLK)",
      "golden_context": "Page 6-7:\n\nOur portfolio\nTinder\nTinder® was launched in 2012 and has since risen to scale and popularity faster than any other service in\nthe online dating category, growing to over 10.0 million payers as of the fourth quarter of 2023. Tinder’s\npatented Swipe® technology has led to significant adoption, particularly among 18 to 30 year-old users, who\nwere historically underserved by the online dating category. Tinder employs a freemium model, through which\nusers are allowed to enjoy many of the core features of Tinder for free, including limited use of the Swipe Right®\nfeature with unlimited communication with other users. However, to enjoy premium features, such as unlimited\nuse of the Swipe Right feature, a Tinder user must subscribe to one of several subscription offerings: Tinder\nPlus®, Tinder Gold®, or Tinder Platinum®. Tinder users and subscribers may also pay for certain premium features,\nsuch as Super Likes™ and Boosts, on a pay-per-use basis. Tinder Explore is an additional feature available for\nusers to interact with others in ways that are non-traditional to Tinder.\nHinge\nHinge® launched in 2012 and has grown to be a popular app for relationship-minded individuals,\nparticularly among the millennial and younger generations, in English speaking countries and several other\nEuropean markets. Hinge is a mobile-only experience and employs a freemium model. Hinge is Designed to be\nDeleted® and focuses on users with a higher level of intent to enter into a relationship and its services are\ndesigned to reinforce that purpose. Hinge has Video Prompts, Voice Prompts, and Voice Notes, which allows\nusers to better showcase who they are through text, photos, video, and voice at different points in their dating\njourney. Hinge offers two premium subscription offerings: Hinge+ and HingeX.\nMatch Group Asia (“MG Asia”)\nThe focus of the MG Asia brands has primarily been to serve various Asian and Middle Eastern markets.\nPlans to grow revenue include further expansion by certain brands into the European and U.S. markets. The\nfollowing brands are included in MG Asia:\nPairs. The Pairs™ app was launched in 2012 and is a leading provider of online dating services in Japan, with\na presence in Taiwan and South Korea. Pairs is a dating platform that was specifically designed to address social\nbarriers generally associated with the use of dating services in Japan.\nAzar. Azar® was launched in 2014 and acquired in 2021 through our acquisition of Hyperconnect. Azar is a\none-to-one video chat service powered by real-time language translations that allow users to meet and interact\nwith a variety of people across the globe in their native language. Azar also has a live streaming option. Azar is\ncurrently focused in the APAC and Other region, with growth in Western Europe and plans to expand to the U.S.\n5\nTable of Contents\nEvergreen & Emerging (“E&E”)\nOur collections of brands within E&E include well-known pioneers in online relationships (which we refer to\nas Evergreen brands) and newer bets which target specific demographics (which we refer to as Emerging\nbrands). The following brands are included in E&E:\nMatch. The Match® platform was launched in 1995 and helped create the online dating category with the\nability to search profiles and receive algorithmic recommendations, and it now also offers a one-to-one real-time\nvideo feature. Match is a brand that focuses on users with a higher level of intent to enter into a serious\nrelationship and its services and marketing are designed to reinforce that purpose.\nMeetic. Meetic®, a leading European online dating brand based in France, was launched in 2001. Meetic is\nthe most recognized dating app for singles over age 35 in Europe. Meetic is a brand that focuses on users with a\nhigher level of intent to enter into a serious relationship and its service and marketing are designed to reinforce\nthat purpose. Meetic also has online audio and video chat rooms available for users.\nOkCupid. The OkCupid® service was launched in 2004 and has attracted users through a Q&A approach to\nthe dating category. OkCupid relies on a freemium model and has a loyal, culturally progressive user base\npredominately located in larger metropolitan areas in English-speaking markets.\nPlenty Of Fish. The Plenty Of Fish® dating service launched in 2003. Among its distinguishing features is the\nability to both search profiles and receive algorithmic recommendations. Plenty Of Fish has grown in popularity\nover the years and relies on a freemium model. Plenty Of Fish has broad appeal in the United States, Canada, the\nUnited Kingdom, and a number of other international markets. POF Live™, a one-to-many live streaming video\nfeature, allows users to engage with other users at Plenty Of Fish in a different format from traditional dating\nprofiles.\nBLK. BLK® brings the Swipe® feature made popular by Tinder to the Black community.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_cash_flow",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1.3bn, investing: 1.4bn, financing: 286m",
      "golden_context": "Page 56-56:\n\nCash Flows\nOperating Activities\nYear Ended December 31,\n(in millions) 2021 2020\nOPERATING\nNet earnings $ 639 $ 567\nAdjustments to reconcile net earnings to net cash flows from operations:\nDepreciation and tooling amortization 684 479\nIntangible asset amortization 88 89\nRestructuring expense, net of cash paid 123 135\nStock-based compensation expense 62 41\nLoss on sales of businesses 29 —\nLoss on debt extinguishment 20 —\nUnrealized loss (gain) on equity securities 362 (382)\nDeferred income tax (benefit) provision (180) 123\nOther non-cash adjustments (22) (5)\nNet earnings adjustments to reconcile to net cash flows from operations 1,805 1,047\nRetirement plan contributions (30) (182)\nChanges in assets and liabilities:\nReceivables (59) 27\nInventories (268) (28)\nAccounts payable and accrued expenses (134) 186\nOther assets and liabilities (8) 134\nNet cash provided by operating activities $ 1,306 $ 1,184\n\nNet cash provided by operating activities was $1,306 million and $1,184 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase for the year ended December 31, 2021,\ncompared with the year ended December 31, 2020, was primarily due to higher net earnings adjusted for\nnon-cash charges, partially offset by higher working capital, due to higher inventory levels and lower\naccounts payable as the current volatile market environment led to unanticipated reductions in customer\nproduction. During 2020, there were lower net investments in working capital (excluding working capital\nacquired in the Delphi Technologies acquisition), partially offset by incremental retirement benefit plan\ncontributions made in December 2020 to the Delphi Technologies Pension Scheme in the United\nKingdom, which is discussed further below.\n\nInvesting Activities\n(in millions) 2021 2020\n$ (666) $ (441)\nCapital expenditures for damage to property, plant and equipment (2) (20)\nInsurance proceeds received for damage to property, plant and equipment 5 20\nPayments for businesses acquired, net of cash and restricted cash acquired (759) (449)\n22 —\ninvestment hedges, net 11 10\n(6) 14\n$ (1,395) $ (866)\nYear Ended December 31,\nINVESTING\nCapital expenditures, including tooling outlays Proceeds from sale of businesses, net of cash divested Proceeds from settlement of net (Payments for) proceeds from other investing activities Net cash used in investing activities Net cash used in investing activities was $1,395 million and $866 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase in cash used during the year ended\nDecember 31, 2021, compared with the year ended December 31, 2020, was primarily due to cash\noutflows related to the 2021 acquisition of AKASOL. In addition, in 2021, capital expenditures, including\ntooling outlays, were higher primarily due to the acquisition of Delphi Technologies. As a percentage of\nsales, capital expenditures were 4.5% and 4.3% for the years ended December 31, 2021 and 2020,\nrespectively.\nFinancing Activities\nYear Ended December 31,\nNet cash provided by financing activities was $286 million and $437 million in the years ended\nDecember 31, 2021 and 2020, respectively. The decrease in net cash provided by financing activities\nduring the year ended December 31, 2021 was primarily related to the Company’s repayment of its €500\nmillion 1.800% senior notes due November 2022, partially offset by no share repurchases 2021.\nAdditionally, net cash provided by financing activities for 2021 included the Company’s public offering and\nissuance of €1.0 billion in 1.000% senior notes due May 2031, a $51 million increase in dividends paid to\nBorgWarner and noncontrolling stockholders, as compared to 2020, and $33 million paid to acquire\nadditional shares in AKASOL.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_company_type",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 13:\n\nCommission File Number: 1-12162\nBorgWarner Inc.\n(Exact name of registrant as specified in its charter)\nDelaware ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_key_financials",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Total net sales 14bn, Earnings per share diluted 2.24",
      "golden_context": "Page 48:\n\nRESULTS OF OPERATIONS\nA detailed comparison of the Company’s 2019 operating results to its 2020 operating results can be found\nin the Management’s Discussion and Analysis of Financial Condition and Results of Operations section in\nthe Company’s 2020 Annual Report on Form 10-K filed February 22, 2021.\nThe following table presents a summary of the Company’s operating results:\nYear Ended December 31,\n(in millions, except per share data) 2021 2020\nNet sales % of net sales % of net sales\nAir Management $ 7,298 49.2 % $ 5,678 55.9 %\ne-Propulsion & Drivetrain 5,378 36.2 3,989 39.2\nFuel Injection 1,826 12.3 479 4.7\nAftermarket 853 5.8 194 1.9\nInter-segment eliminations (517) (3.5) (175) (1.7)\nTotal net sales 14,838 100.0 10,165 100.0\nCost of sales 11,983 80.8 8,255 81.2\nGross profit 2,855 19.2 1,910 18.8\nSelling, general and administrative expenses - R&D, net 707 4.8 476 4.7\nSelling, general and administrative expenses - Other 753 5.1 475 4.7\nRestructuring expense 163 1.1 203 2.0\nOther operating expense, net 81 0.5 138 1.4\nOperating income 1,151 7.8 618 6.1\nEquity in affiliates’ earnings, net of tax (48) (0.3) (18) (0.2)\nUnrealized loss (gain) on equity securities 362 2.4 (382) (3.8)\nInterest expense, net 93 0.6 61 0.6\nOther postretirement income (45) (0.3) (7) (0.1)\nEarnings before income taxes and noncontrolling interest 789 5.3 964 9.5\nProvision for income taxes 150 1.0 397 3.9\nNet earnings 639 4.3 567 5.6\nNet earnings attributable to the noncontrolling interest, net of tax 102 0.7 67 0.7\nNet earnings attributable to BorgWarner Inc. $ 537 3.6 % $ 500 4.9 %\nEarnings per share — diluted $ 2.24 $ 2.34",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_revenue",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "14.8bn",
      "golden_context": "Page 56-56:\n\nCash Flows\nOperating Activities\nYear Ended December 31,\n(in millions) 2021 2020\nOPERATING\nNet earnings $ 639 $ 567\nAdjustments to reconcile net earnings to net cash flows from operations:\nDepreciation and tooling amortization 684 479\nIntangible asset amortization 88 89\nRestructuring expense, net of cash paid 123 135\nStock-based compensation expense 62 41\nLoss on sales of businesses 29 —\nLoss on debt extinguishment 20 —\nUnrealized loss (gain) on equity securities 362 (382)\nDeferred income tax (benefit) provision (180) 123\nOther non-cash adjustments (22) (5)\nNet earnings adjustments to reconcile to net cash flows from operations 1,805 1,047\nRetirement plan contributions (30) (182)\nChanges in assets and liabilities:\nReceivables (59) 27\nInventories (268) (28)\nAccounts payable and accrued expenses (134) 186\nOther assets and liabilities (8) 134\nNet cash provided by operating activities $ 1,306 $ 1,184\n\nNet cash provided by operating activities was $1,306 million and $1,184 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase for the year ended December 31, 2021,\ncompared with the year ended December 31, 2020, was primarily due to higher net earnings adjusted for\nnon-cash charges, partially offset by higher working capital, due to higher inventory levels and lower\naccounts payable as the current volatile market environment led to unanticipated reductions in customer\nproduction. During 2020, there were lower net investments in working capital (excluding working capital\nacquired in the Delphi Technologies acquisition), partially offset by incremental retirement benefit plan\ncontributions made in December 2020 to the Delphi Technologies Pension Scheme in the United\nKingdom, which is discussed further below.\n\nInvesting Activities\n(in millions) 2021 2020\n$ (666) $ (441)\nCapital expenditures for damage to property, plant and equipment (2) (20)\nInsurance proceeds received for damage to property, plant and equipment 5 20\nPayments for businesses acquired, net of cash and restricted cash acquired (759) (449)\n22 —\ninvestment hedges, net 11 10\n(6) 14\n$ (1,395) $ (866)\nYear Ended December 31,\nINVESTING\nCapital expenditures, including tooling outlays Proceeds from sale of businesses, net of cash divested Proceeds from settlement of net (Payments for) proceeds from other investing activities Net cash used in investing activities Net cash used in investing activities was $1,395 million and $866 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase in cash used during the year ended\nDecember 31, 2021, compared with the year ended December 31, 2020, was primarily due to cash\noutflows related to the 2021 acquisition of AKASOL. In addition, in 2021, capital expenditures, including\ntooling outlays, were higher primarily due to the acquisition of Delphi Technologies. As a percentage of\nsales, capital expenditures were 4.5% and 4.3% for the years ended December 31, 2021 and 2020,\nrespectively.\nFinancing Activities\nYear Ended December 31,\nNet cash provided by financing activities was $286 million and $437 million in the years ended\nDecember 31, 2021 and 2020, respectively. The decrease in net cash provided by financing activities\nduring the year ended December 31, 2021 was primarily related to the Company’s repayment of its €500\nmillion 1.800% senior notes due November 2022, partially offset by no share repurchases 2021.\nAdditionally, net cash provided by financing activities for 2021 included the Company’s public offering and\nissuance of €1.0 billion in 1.000% senior notes due May 2031, a $51 million increase in dividends paid to\nBorgWarner and noncontrolling stockholders, as compared to 2020, and $33 million paid to acquire\nadditional shares in AKASOL.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_revenue_growth",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "14.8bn net sales in 2021, 10.2bn in 2020",
      "golden_context": "Page 56-56:\n\nCash Flows\nOperating Activities\nYear Ended December 31,\n(in millions) 2021 2020\nOPERATING\nNet earnings $ 639 $ 567\nAdjustments to reconcile net earnings to net cash flows from operations:\nDepreciation and tooling amortization 684 479\nIntangible asset amortization 88 89\nRestructuring expense, net of cash paid 123 135\nStock-based compensation expense 62 41\nLoss on sales of businesses 29 —\nLoss on debt extinguishment 20 —\nUnrealized loss (gain) on equity securities 362 (382)\nDeferred income tax (benefit) provision (180) 123\nOther non-cash adjustments (22) (5)\nNet earnings adjustments to reconcile to net cash flows from operations 1,805 1,047\nRetirement plan contributions (30) (182)\nChanges in assets and liabilities:\nReceivables (59) 27\nInventories (268) (28)\nAccounts payable and accrued expenses (134) 186\nOther assets and liabilities (8) 134\nNet cash provided by operating activities $ 1,306 $ 1,184\n\nNet cash provided by operating activities was $1,306 million and $1,184 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase for the year ended December 31, 2021,\ncompared with the year ended December 31, 2020, was primarily due to higher net earnings adjusted for\nnon-cash charges, partially offset by higher working capital, due to higher inventory levels and lower\naccounts payable as the current volatile market environment led to unanticipated reductions in customer\nproduction. During 2020, there were lower net investments in working capital (excluding working capital\nacquired in the Delphi Technologies acquisition), partially offset by incremental retirement benefit plan\ncontributions made in December 2020 to the Delphi Technologies Pension Scheme in the United\nKingdom, which is discussed further below.\n\nInvesting Activities\n(in millions) 2021 2020\n$ (666) $ (441)\nCapital expenditures for damage to property, plant and equipment (2) (20)\nInsurance proceeds received for damage to property, plant and equipment 5 20\nPayments for businesses acquired, net of cash and restricted cash acquired (759) (449)\n22 —\ninvestment hedges, net 11 10\n(6) 14\n$ (1,395) $ (866)\nYear Ended December 31,\nINVESTING\nCapital expenditures, including tooling outlays Proceeds from sale of businesses, net of cash divested Proceeds from settlement of net (Payments for) proceeds from other investing activities Net cash used in investing activities Net cash used in investing activities was $1,395 million and $866 million in the years ended\nDecember 31, 2021 and 2020, respectively. The increase in cash used during the year ended\nDecember 31, 2021, compared with the year ended December 31, 2020, was primarily due to cash\noutflows related to the 2021 acquisition of AKASOL. In addition, in 2021, capital expenditures, including\ntooling outlays, were higher primarily due to the acquisition of Delphi Technologies. As a percentage of\nsales, capital expenditures were 4.5% and 4.3% for the years ended December 31, 2021 and 2020,\nrespectively.\nFinancing Activities\nYear Ended December 31,\nNet cash provided by financing activities was $286 million and $437 million in the years ended\nDecember 31, 2021 and 2020, respectively. The decrease in net cash provided by financing activities\nduring the year ended December 31, 2021 was primarily related to the Company’s repayment of its €500\nmillion 1.800% senior notes due November 2022, partially offset by no share repurchases 2021.\nAdditionally, net cash provided by financing activities for 2021 included the Company’s public offering and\nissuance of €1.0 billion in 1.000% senior notes due May 2031, a $51 million increase in dividends paid to\nBorgWarner and noncontrolling stockholders, as compared to 2020, and $33 million paid to acquire\nadditional shares in AKASOL.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000066_segments",
      "report_id": "ID_000066",
      "company_name": "BorgWarner",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Air Management, e-Propulsion & Drivetrain, Fuel injection, Aftermarket",
      "golden_context": "Page 18:\n\narrative Description of Reporting Segments\nThe Company reports its results under four reporting segments: Air Management, e-Propulsion &\nDrivetrain, Fuel Injection and Aftermarket. Net sales by reporting segment were as follows:\nYear Ended December 31,\n(in millions) 2021 2020 2019\nAir Management $ 7,298 $ 5,678 $ 6,214\ne-Propulsion & Drivetrain 5,378 3,989 4,015\nFuel Injection 1,826 479 —\nAftermarket 853 194 —\nInter-segment eliminations (517) (175) (61)\nNet sales $ 14,838 $ 10,165 $ 10,168\nThe sales information presented above does not include the sales by the Company’s unconsolidated joint\nventures (see sub-heading “Joint Ventures” below). Such unconsolidated sales totaled approximately\n$1,053 million, $721 million, and $827 million for the years ended December 31, 2021, 2020 and 2019,\nrespectively.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_cash_flow",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 1.4bn, financing cash flow: -521m, investing cash flow: -593m, total cash flow (net increase in cash): 196m",
      "golden_context": "Page 70:\n\nBORGWARNER INC. AND CONSOLIDATED SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n(in millions) 2023 2022 2021\nOPERATING ACTIVITIES OF CONTINUING OPERATIONS\nNet cash provided by operating activities (see Note 25) $ 1,397 $ 1,180 $ 1,210\nINVESTING ACTIVITIES OF CONTINUING OPERATIONS\nCapital expenditures, including tooling outlays (832) (622) (514)\nCapital expenditures for damage to property, plant and equipment — — (2)\nInsurance proceeds received for damage to property, plant and equipment — — 5\nPayments for businesses acquired, net of cash and restricted cash acquired (109) (312) (759)\nProceeds from sale of businesses, net of cash divested 9 27 22\nProceeds from settlement of net investment hedges, net 25 40 11\nProceeds from (payments for) investments in debt and equity securities, net 284 (473) (20)\nProceeds from asset disposals and other, net 30 20 8\nNet cash used in investing activities from continuing operations (593) (1,320) (1,249)\nFINANCING ACTIVITIES OF CONTINUING OPERATIONS\nAdditions to debt 18 5 1,286\nRepayments of debt, including current portion (451) (13) (699)\nPayments for debt issuance costs (3) — (11)\nPayments for purchase of treasury stock (177) (240) —\nPayments for stock-based compensation items (25) (18) (15)\nPurchase of noncontrolling interest (15) (56) (33)\nPayments for contingent consideration (23) — —\nNet distribution from PHINIA 401 — —\nDividends paid to BorgWarner stockholders (130) (161) (162)\nDividends paid to noncontrolling stockholders (116) (81) (72)\nNet cash (used in) provided by financing activities from continuing operations (521) (564) 294\nCASH FLOWS FROM DISCONTINUED OPERATIONS\nOperating activities of discontinued operations (85) 390 97\nInvesting activities of discontinued operations (86) (99) (147)\nFinancing activities of discontinued operations 84 (3) (8)\nNet cash (used in) provided by discontinued operations (87) 288 (58)\nEffect of exchange rate changes on cash — (90) (3)\nNet increase (decrease) in cash, cash equivalents and restricted cash 196 (506) 194\nCash, cash equivalents and restricted cash at beginning of year 1,338 1,844 1,650\nCash, cash equivalents and restricted cash at end of year $ 1,534 $ 1,338 $ 1,844\nLess: Cash, cash equivalents and restricted cash of discontinued operations at end\nof year $ — $ 255 $ 295\nCash, cash equivalents and restricted cash of continuing operations at end of year $ 1,534 $ 1,083 $ 1,549",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_company_type",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 5:\n\nommission File Number: 1-12162\nBorgWarner Inc.\n(Exact name of registrant as specified in its charter)\nDelaware ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_key_financials",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "14bn net sales, 2.6bn gross profit",
      "golden_context": "Page 68:\n\nBORGWARNER INC. AND CONSOLIDATED SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021\nNet sales $ 14,198 $ 12,635 $ 11,803\nCost of sales 11,630 10,266 9,630\nGross profit 2,568 2,369 2,173",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_revenue",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "14bn",
      "golden_context": "Page 68:\n\nBORGWARNER INC. AND CONSOLIDATED SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021\nNet sales $ 14,198 $ 12,635 $ 11,803\nCost of sales 11,630 10,266 9,630\nGross profit 2,568 2,369 2,173",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_revenue_growth",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "14bn in 2023, 13bn in 2022",
      "golden_context": "Page 68:\n\nBORGWARNER INC. AND CONSOLIDATED SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021\nNet sales $ 14,198 $ 12,635 $ 11,803\nCost of sales 11,630 10,266 9,630\nGross profit 2,568 2,369 2,173",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000068_segments",
      "report_id": "ID_000068",
      "company_name": "BorgWarner",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Cars, trucks, combustion, EV\n\nAir Management, Drivetrain & Battery Systems, ePropulsion.",
      "golden_context": "Page 10:\n\nBorgWarner Inc. (together with its Consolidated Subsidiaries, the “Company” or “BorgWarner”) is a\nDelaware corporation incorporated in 1987. The Company is a global product leader in clean and efficient\ntechnology solutions for combustion, hybrid and electric vehicles. Its products help improve vehicle\nperformance, propulsion efficiency, stability and air quality. The Company manufactures and sells these\nproducts worldwide, primarily to original equipment manufacturers (“OEMs”) of light vehicles (passenger\ncars, sport-utility vehicles (“SUVs”), vans and light trucks). The Company’s products are also sold to\nOEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway\nvehicles (agricultural and construction machinery and marine applications). The Company also\nmanufactures and sells its products to certain tier one vehicle systems suppliers and into the aftermarket\nfor light, commercial and off-highway vehicles. The Company operates manufacturing facilities serving\ncustomers in Europe, the Americas and Asia and is an original equipment supplier to nearly every major\nautomotive OEM in the world.\nCharging Forward - Electrification Portfolio Strategy\nIn 2021, the Company announced its strategy to aggressively grow its eProducts over time through\norganic investments and technology-focused acquisitions. eProducts include all products utilized on or for\nelectric vehicles (“EVs”) plus those same products and components that are included in hybrid\npowertrains whose underlying technologies are adaptable or applicable to those used in or for EVs. The\nCompany believes it is well positioned for the industry’s anticipated migration to EVs.\nIn June 2023, the Company announced the next phase of its Charging Forward strategy, which focuses\non profitably growing eProducts while maximizing the value of the Company’s Foundational products\nportfolio. Foundational products include all products utilized on internal combustion engines plus those\nsame products and components that are also included in hybrid powertrains. As a result of executing its\nstrategy, the Company expects that by 2027, it will achieve over $10 billion in annual eProduct sales,\ndeliver eProduct adjusted operating margin of approximately 7% and maintain its double-digit adjusted\noperating margin for its Foundational products portfolio. During the year ended December 31, 2023, the\nCompany’s eProduct revenue was approximately $2.0 billion, or 14% of its total revenue.\nOn July 3, 2023, BorgWarner completed the previously announced spin-off (“Spin-Off”) of its Fuel\nSystems and Aftermarket segments in a transaction intended to qualify as tax free to the Company’s\nstockholders for U.S. federal income tax purposes, which was accomplished by the distribution of 100%\nof the outstanding common stock of PHINIA, Inc. (“PHINIA”) to holders of record of common stock of the\nCompany on a pro-rata basis. Each holder of record of common stock of the Company received one\nshare of PHINIA common stock for every five shares of common stock of the Company held on June 23,\n2023, the record date for the distribution (“Distribution Date”). In lieu of fractional shares of PHINIA,\nshareholders of the Company received cash. PHINIA is an independent public company trading under the\nsymbol “PHIN” on the New York Stock Exchange.\nThe historical results of operations and the financial position of PHINIA for periods prior to the Spin-Off\nare presented as discontinued operations in the accompanying Consolidated Financial Statements.\n\nPage 12:\n\nThe Company reports its results under three reportable segments: Air Management, Drivetrain & Battery\nSystems and ePropulsion. In previous years, the Company presented its results under four reportable\nsegments: Air Management, ePropulsion & Drivetrain, Fuel Systems and Aftermarket. In the first quarter\nof 2023, the Company elected to disaggregate Air Management and ePropulsion & Drivetrain segments\ninto Air Management, Drivetrain & Battery Systems and ePropulsion and reported its results in a total of\nfive reportable segments: Air Management, Drivetrain & Battery Systems, ePropulsion, Fuel Systems and\nAftermarket. As a result of the Spin-Off, Fuel Systems and Aftermarket are no longer reportable\nsegments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_cash_flow",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 1.2bn, investing cash flow: -1.4bn, financing cash flow: -1.1bn",
      "golden_context": "Page 68:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31,\n(In millions) 2021 2020 2019\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet income (loss) $ (1,016) $ (1,758) $ 81\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\nLoss from discontinued operations 30 20 —\nDepreciation and amortization 1,126 583 222\nAmortization of deferred financing costs and discounts 347 156 18\nProvision for doubtful accounts 26 29 1\nDeferred revenue (4) (11) (7)\nLoss on extinguishment of debt 236 197 8\nNon-cash lease amortization 39 14 3\n(Gain) loss on investments 107 (34) (9)\nStock compensation expense 82 79 20\n(Gain) loss on sale of businesses and disposal of property and equipment 11 (7) (50)\nImpairment charges 102 215 1\n(Benefit) provision for deferred income taxes (283) 176 (2)\n(Gain) loss on derivatives 127 (9) —\nForeign currency transaction gain (21) (129) —\nOther non-cash adjustments to net income (loss) (8) (2) 3\nChange in operating assets and liabilities:\nAccounts receivable (135) (70) 5\nPrepaid expenses and other assets (67) 9 10\nIncome taxes (receivable) payable 13 (40) (22)\nAccounts payable, accrued expenses and other liabilities 486 25 31\nOther 1 (4) —\nNet cash provided by (used in) operating activities 1,199 (561) 313\nCASH FLOWS FROM INVESTING ACTIVITIES:\nPurchase of property and equipment, net (520) (164) (171)\nFormer Caesars acquisition, net of cash acquired — (6,314) —\nWilliam Hill acquisition, net of cash acquired (1,581) — —\nPurchase of additional interest in Horseshoe Baltimore, net of cash consolidated (5) — —\nAcquisition of gaming rights and trademarks (312) (35) —\nProceeds from sale of businesses, property and equipment, net of cash sold 726 366 536\nProceeds from the sale of investments 239 25 5\nProceeds from insurance related to property damage 44 17 —\nInvestments in unconsolidated affiliates (39) (1) (1)\nOther — 6 —\nNet cash provided by (used in) investing activities (1,448) (6,100) 369\nCASH FLOWS FROM FINANCING ACTIVITIES:\nProceeds from long-term debt and revolving credit facilities 1,308 9,765 33\nRepayments of long-term debt and revolving credit facilities (1,977) (3,742) (736)\nProceeds from sale-leaseback financing arrangement — 3,224 —\nFinancing obligation payments (5) (49) —\nDebt issuance and extinguishment costs (56) (356) (1)\nProceeds from issuance of common stock 3 2,718 —\nCash paid to settle convertible notes (367) (903) —\nTaxes paid related to net share settlement of equity awards (45) (16) (8)\nDistributions to noncontrolling interest (2) — —\nNet cash provided by (used in) financing activities (1,141) 10,641 (712)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_company_type",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 1:\n\nCAESARS ENTERTAINMENT, INC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_key_financials",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue 9.6bn, Net income per share (basic) -4.83, diluted -4.83.",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2021 2020 2019\nREVENUES:\nCasino and pari-mutuel commissions $ 5,827 $ 2,482 $ 1,808\nFood and beverage 1,140 342 301\nHotel 1,551 450 300\nOther 1,052 354 119\nNet revenues 9,570 3,628 2,528\nEXPENSES:\nCasino and pari-mutuel commissions 3,129 1,271 905\nFood and beverage 707 265 239\nHotel 438 170 99\nOther 373 140 46\nGeneral and administrative 1,782 902 503\nCorporate 309 195 66\nImpairment charges 102 215 Depreciation and amortization 1,126 583 222\nTransaction costs and other operating costs 144 270 37\nTotal operating expenses 8,110 4,011 2,118\nOperating income (loss) 1,460 (383) 410\nOTHER EXPENSE:\nInterest expense, net (2,295) (1,202) (286)\nLoss on extinguishment of debt (236) (197) Other income (loss) (198) 176 Total other expense (2,729) (1,223) (285)\nIncome (loss) from continuing operations before income taxes (1,269) (1,606) 125\nBenefit (provision) for income taxes 283 (132) (44)\nNet income (loss) from continuing operations, net of income taxes (986) (1,738) 81\nDiscontinued operations, net of income taxes (30) (20) —\nNet income (loss) (1,016) (1,758) 81\nNet (income) loss attributable to noncontrolling interests (3) 1 Net income (loss) attributable to Caesars $ (1,019) $ (1,757) $ 81\nNet income (loss) per share - basic and diluted:\nBasic income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.04\nBasic loss per share from discontinued operations (0.14) (0.15) Basic income (loss) per share $ (4.83) $ (13.50) $ 1.04\nDiluted income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.03\nDiluted loss per share from discontinued operations (0.14) (0.15) Diluted income (loss) per share $ (4.83) $ (13.50) $ 1.03\nWeighted average basic shares outstanding 211 130 78\n1\n(8)\n9\n—\n—\n—\nWeighted average diluted shares outstanding 211 130 79",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_revenue",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenue 9.6bn",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2021 2020 2019\nREVENUES:\nCasino and pari-mutuel commissions $ 5,827 $ 2,482 $ 1,808\nFood and beverage 1,140 342 301\nHotel 1,551 450 300\nOther 1,052 354 119\nNet revenues 9,570 3,628 2,528\nEXPENSES:\nCasino and pari-mutuel commissions 3,129 1,271 905\nFood and beverage 707 265 239\nHotel 438 170 99\nOther 373 140 46\nGeneral and administrative 1,782 902 503\nCorporate 309 195 66\nImpairment charges 102 215 Depreciation and amortization 1,126 583 222\nTransaction costs and other operating costs 144 270 37\nTotal operating expenses 8,110 4,011 2,118\nOperating income (loss) 1,460 (383) 410\nOTHER EXPENSE:\nInterest expense, net (2,295) (1,202) (286)\nLoss on extinguishment of debt (236) (197) Other income (loss) (198) 176 Total other expense (2,729) (1,223) (285)\nIncome (loss) from continuing operations before income taxes (1,269) (1,606) 125\nBenefit (provision) for income taxes 283 (132) (44)\nNet income (loss) from continuing operations, net of income taxes (986) (1,738) 81\nDiscontinued operations, net of income taxes (30) (20) —\nNet income (loss) (1,016) (1,758) 81\nNet (income) loss attributable to noncontrolling interests (3) 1 Net income (loss) attributable to Caesars $ (1,019) $ (1,757) $ 81\nNet income (loss) per share - basic and diluted:\nBasic income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.04\nBasic loss per share from discontinued operations (0.14) (0.15) Basic income (loss) per share $ (4.83) $ (13.50) $ 1.04\nDiluted income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.03\nDiluted loss per share from discontinued operations (0.14) (0.15) Diluted income (loss) per share $ (4.83) $ (13.50) $ 1.03\nWeighted average basic shares outstanding 211 130 78\n1\n(8)\n9\n—\n—\n—\nWeighted average diluted shares outstanding 211 130 79",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_revenue_growth",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 9.6bn, previous year 3.6bn",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2021 2020 2019\nREVENUES:\nCasino and pari-mutuel commissions $ 5,827 $ 2,482 $ 1,808\nFood and beverage 1,140 342 301\nHotel 1,551 450 300\nOther 1,052 354 119\nNet revenues 9,570 3,628 2,528\nEXPENSES:\nCasino and pari-mutuel commissions 3,129 1,271 905\nFood and beverage 707 265 239\nHotel 438 170 99\nOther 373 140 46\nGeneral and administrative 1,782 902 503\nCorporate 309 195 66\nImpairment charges 102 215 Depreciation and amortization 1,126 583 222\nTransaction costs and other operating costs 144 270 37\nTotal operating expenses 8,110 4,011 2,118\nOperating income (loss) 1,460 (383) 410\nOTHER EXPENSE:\nInterest expense, net (2,295) (1,202) (286)\nLoss on extinguishment of debt (236) (197) Other income (loss) (198) 176 Total other expense (2,729) (1,223) (285)\nIncome (loss) from continuing operations before income taxes (1,269) (1,606) 125\nBenefit (provision) for income taxes 283 (132) (44)\nNet income (loss) from continuing operations, net of income taxes (986) (1,738) 81\nDiscontinued operations, net of income taxes (30) (20) —\nNet income (loss) (1,016) (1,758) 81\nNet (income) loss attributable to noncontrolling interests (3) 1 Net income (loss) attributable to Caesars $ (1,019) $ (1,757) $ 81\nNet income (loss) per share - basic and diluted:\nBasic income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.04\nBasic loss per share from discontinued operations (0.14) (0.15) Basic income (loss) per share $ (4.83) $ (13.50) $ 1.04\nDiluted income (loss) per share from continuing operations $ (4.69) $ (13.35) $ 1.03\nDiluted loss per share from discontinued operations (0.14) (0.15) Diluted income (loss) per share $ (4.83) $ (13.50) $ 1.03\nWeighted average basic shares outstanding 211 130 78\n1\n(8)\n9\n—\n—\n—\nWeighted average diluted shares outstanding 211 130 79",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000069_segments",
      "report_id": "ID_000069",
      "company_name": "Caesars Entertainment",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Casino, Online Sports Betting and iGaming, Food and Beverage Operations, Hotel Operations, Management and Branding Arrangements, Entertainment and Other Non-Gaming Operations",
      "golden_context": "Page 5-6:\n\nBusiness Operations\nOur consolidated business is composed of five complementary businesses that reinforce, cross-promote, and build upon each other: casino, which includes our\nonline sports betting and iGaming, food and beverage, hotel, casino management services, retail and entertainment and other business operations.\nCasino Operations\nOur casino operations generate revenues from approximately 55,700 slot machines and 2,900 table games, including poker, as well as other games such as keno,\nand race and online sportsbooks, all of which comprised approximately 61% of our total net revenues in 2021. Slot revenues generate the majority of our casino\nrevenues.\nOnline Sports Betting and iGaming\nWe previously entered into a 25-year agreement with William Hill PLC’s U.S. subsidiary, William Hill U.S. Holdco, Inc. (“William Hill US” and together with\nWilliam Hill PLC,\n“William Hill”), which became effective January 29, 2019, and granted to William Hill the right to conduct betting activities, including\noperating sportsbooks, in retail channels and under certain skins for online channels with respect to our current and future properties and conduct certain real\nmoney online gaming activities. On April 22, 2021, we consummated our previously announced acquisition of William Hill PLC in an all-cash transaction. Prior to\nthe transaction, we accounted for our investment in William Hill PLC as an investment in equity securities we accounted for our investment in William Hill US as\nan equity method investment.\nPrior to the acquisition, William Hill operated 37 sportsbooks at our properties in eight states. Subsequent to the William Hill Acquisition, we operate and conduct\nsports wagering across 21 U.S. states and domestic jurisdictions as of December 31, 2021. Additionally, we operate regulated online real money gaming businesses\nin five states and continue to leverage the World Series of Poker (“WSOP”) brand, and license the WSOP trademarks for a variety of products and services. Players\nin markets such as New Jersey can play hundreds of casino games including slots, table games, and video poker and we expect to similarly increase product\nofferings in Pennsylvania, Michigan and additional states as iGaming is legalized.\nExtensive usage of digital platforms, continued legalization in additional states, and growing bettor demand are driving the market for online sports betting\nplatforms in the United States and the William Hill Acquisition positioned us to address this growing market.\nOn August 2, 2021, we launched our Caesars Sportsbook app on our owned and integrated technology platform we have labeled Liberty (“Liberty”). We have\nlaunched a significant marketing campaign with distinguished actors, athletes and media personalities promoting the launch of the Caesars Sportsbook app. The\napp offers extensive pre-match and live markets, extensive odds and flexible limits, player props, and same-game parlays. Caesars Sportsbook has partnerships\nwith the NFL, NBA, NHL, MLB, and several individual teams, while being the exclusive odds provider for ESPN and CBS Sports. We continue to create new\npartnerships among collegiate and professional sports teams including the exclusive naming-rights partnership that rebranded the Caesars Superdome. Growth in\nthe Caesars Digital segment continues to be realized with the expansion into new states as jurisdictions legalize retail and online sports betting.\nSports Brand Partnerships — Our strategy includes developing local and national partnerships that align our sportsbooks, casinos, resorts and brands with sports\nfans. In 2019, we announced high-profile exclusive sports entertainment partnerships with the NFL, making Caesars the first-ever “Official Casino Sponsor” in the\nhistory of the league. This historic partnership combines the NFL’s legendary events with our properties to bring unique experiences to Caesars patrons. This\nincludes exclusive rights to use NFL trademarks to promote our properties, also enabling Caesars to host exclusive special events and experiences. Caesars will\ncontinue to host brand activations at prominent, high-profile NFL events, including the NFL Draft, NFL playoffs, and the Super Bowl during this multi-year\npartnership.\n\nFood and Beverage Operations\nOur food and beverage operations generate revenues from our dining venues, bars, nightclubs, and lounges located throughout our casinos and represented\napproximately 12% of our total net revenues in 2021. Many of our properties include several dining options, ranging from upscale dining experiences to\nmoderately-priced restaurants, some of which offer pickup or in-room delivery options.\nHotel Operations\nHotel operations generate revenues from hotel stays at our properties in our approximately 47,700 guest rooms and suites worldwide and represented approximately\n16% of our total net revenues in 2021. Our properties operate at various price and service points, allowing us to host a variety of casino guests, who are visiting our\nproperties for gaming and other casino entertainment options, and non-casino guests who are visiting our properties for other purposes, such as vacation travel or\nconventions.\nManagement and Branding Arrangements\nWe earn revenue from fees paid for the management of four domestic casinos. Managed properties represent Caesars-branded properties where we provide staffing\nand management services under management agreements. In addition, we authorize the use of certain brands and marks of Caesars Entertainment, Inc. We earn\nrevenue from brand license fees received based on the arrangements.\nEntertainment and Other Non-Gaming Operations\nWe provide a variety of retail and entertainment offerings at our properties. We operate various entertainment venues across the United States, including the\nColosseum at Caesars Palace and Zappos Theater at Planet Hollywood. These award-winning entertainment venues host or have announced plans to host,\nprominent headliners, such as Adele, John Legend, Sting, Donny Osmond and Keith Urban.\nThe LINQ Promenade is an open-air dining, entertainment, and retail development located between The LINQ Hotel & Casino and Flamingo Las Vegas, which\nfeatures The High Roller, a 550-foot observation wheel, and Fly LINQ, the first and only zipline on the Las Vegas Strip. The retail stores offer guests a wide range\nof options from high-end brands and accessories to souvenirs and decorative items.\nCAESARS FORUM is a 550,000 square-foot conference center located at the center of the Las Vegas Strip. CAESARS FORUM features 300,000 square feet of\nflexible meeting space, the two largest pillarless ballrooms in the world, LEED silver-rating, and FORUM Plaza, the first 100,000 square-foot outdoor meeting and\nevent space in Las Vegas. Though currently available for use with no restrictions, COVID-19 related restrictions limited our ability to utilize the convention center\nand meeting space at full capacity during the first half of 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_cash_flow",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow operating 993m, cash flow investing -768m, cash flow financing -1.3bn.",
      "golden_context": "Page 66:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31,\n(In millions) 2022 2021 2020\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet loss $ (910) $ (1,016) $ (1,758)\nAdjustments to reconcile net loss to net cash provided by operating activities:\nLoss from discontinued operations 386 30 20\nDepreciation and amortization 1,205 1,126 583\nAmortization of deferred financing costs and discounts 297 347 156\nProvision for doubtful accounts 25 26 29\nDeferred revenue (2) (4) (11)\nLoss on extinguishment of debt 85 236 197\nNon-cash lease amortization 54 39 14\n(Gain) loss on investments 54 107 (34)\nStock compensation expense 101 82 79\n(Gain) loss on sale of businesses and disposal of property and equipment 5 11 (7)\nImpairment charges 108 102 215\n(Benefit) provision for deferred income taxes (41) (283) 176\n(Gain) loss on derivatives (73) 127 (9)\nForeign currency transaction gain —\n(21) (129)\nOther non-cash adjustments to net loss (57) (8) (2)\nChange in operating assets and liabilities:\nAccounts receivable (143) (135) (70)\nPrepaid expenses and other assets (15) (67) 9\nIncome taxes (receivable) payable (7) 13 (40)\nAccounts payable, accrued expenses and other liabilities (80) 486 25\nOther 1 1 (4)\nNet cash provided by (used in) operating activities 993 1,199 (561)\nCASH FLOWS FROM INVESTING ACTIVITIES:\nPurchase of property and equipment, net (952) (520) (164)\nFormer Caesars acquisition, net of cash acquired —\n—\n(6,314)\nAcquisition of William Hill, net of cash acquired —\n(1,581) —\nPurchase of additional interest in Horseshoe Baltimore, net of cash consolidated —\n(5) —\nAcquisition of gaming rights and trademarks (11) (312) (35)\nProceeds from sale of businesses, property and equipment, net of cash sold 39 726 366\nProceeds from the sale of investments 126 239 25\nProceeds from insurance related to property damage 36 44 17\nInvestments in unconsolidated affiliates —\n(39) (1)\nOther (6) —\n6\nNet cash used in investing activities (768) (1,448) (6,100)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nProceeds from long-term debt and revolving credit facilities 1,500 1,308 9,765\nRepayments of long-term debt and revolving credit facilities (2,738) (1,977) (3,742)\nProceeds from sale-leaseback financing arrangement —\n—\n3,224\nFinancing obligation payments (3) (5) (49)\nDebt issuance and extinguishment costs (12) (56) (356)\nProceeds from issuance of common stock 1 3 2,718\nCash paid to settle convertible notes —\n(367) (903)\nTaxes paid related to net share settlement of equity awards (27) (45) (16)\nDistributions to noncontrolling interest (3) (2) —\nNet cash provided by (used in) financing activities (1,282) (1,141) 10,641\n\nPage 67:\n\nYears Ended December 31,\n(In millions) 2022 2021 2020\nCASH FLOWS FROM DISCONTINUED OPERATIONS:\nCash flows from operating activities (18) (27) (21)\nCash flows from investing activities 386 (1,475) (5)\nCash flows from financing activities —\n591\n—\nNet cash from discontinued operations 368 (911) (26)\nChange in cash, cash equivalents, and restricted cash classified as assets held for sale —\n10 (20)\nEffect of foreign currency exchange rates on cash (29) 32 129\nIncrease (decrease) in cash, cash equivalents and restricted cash (718) (2,259) 4,063\nCash, cash equivalents and restricted cash, beginning of period 2,021 4,280 217\nCash, cash equivalents and restricted cash, end of period $ 1,303 $ 2,021 $ 4,280\nRECONCILIATION OF CASH, CASH EQUIV ALENTS AND RESTRICTED CASH TO\nAMOUNTS REPORTED WITHIN THE CONSOLIDATED BALANCE SHEETS:\nCash and cash equivalents $ 1,038 $ 1,070 $ 1,776\nRestricted cash 131 319 2,021\nRestricted and escrow cash included in other noncurrent assets 134 323 437\nCash and cash equivalents and restricted cash in discontinued operations —\n309 46\nTotal cash, cash equivalents and restricted cash $ 1,303 $ 2,021 $ 4,280\nSUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:\nInterest paid $ 2,010 $ 1,923 $ 892\nIncome taxes (refunded) paid, net 22 9 (7)\nNON-CASH INVESTING AND FINANCING ACTIVITIES:\nPayables for capital expenditures 145 100 40\nExchange for sale-leaseback financing obligation —\n—\n246\nConvertible notes settled with shares —\n440 454\nLand contributed to joint venture —\n61\n—\nShares issued to Former Caesars shareholders —\n—\n2,381\nThe accompanying notes are an integral part of these consolidated financial statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_company_type",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 1:\n\nCAESARS ENTERTAINMENT, INC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_key_financials",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenues net 11bn, dilutes loss per share -4.19, basic loss per share -4.19",
      "golden_context": "Page 63:\n\nAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_revenue",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenues net 11bn",
      "golden_context": "Page 63:\n\nAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_revenue_growth",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues net 11bn, previous yet 9.6bn",
      "golden_context": "Page 63:\n\nAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000070_segments",
      "report_id": "ID_000070",
      "company_name": "Caesars Entertainment",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Casino, Online Sports Betting and iGaming, Food and Beverage, Hotel, Management and Branding, Entertainment and Other Non-Gaming Operations",
      "golden_context": "Page 5:\n\nBusiness Operations\nOur consolidated business is composed of complementary businesses that reinforce, cross-promote, and build upon each other: casino, which includes our\nonline sports betting and iGaming, food and beverage, hotel, casino management services, entertainment, retail and other business operations.\nCasino Operations\nOur casino operations generate revenues from approximately 52,800 slot machines, 2,800 table games, including poker, sports betting from our retail and\nonline sportsbooks, iGaming and other games such as keno, all of which comprised approximately 55% of our total net revenues in 2022. Slot revenues\ngenerate the majority of our casino revenues.\nOnline Sports Betting and iGaming\nAs a result of our acquisition of William Hill PLC on April 22, 2021, we significantly expanded our online sports betting and iGaming presence. We\noperate and conduct sports wagering across 28 jurisdictions in North America as of December 31, 2022. Additionally, we operate regulated online real\nmoney gaming businesses in six jurisdictions in North America and continue to leverage the World Series of Poker (“WSOP”) brand, and license the\nWSOP trademarks for a variety of products and services. We offer hundreds of online casino games including slots, table games, live dealer and video\npoker and we expect to increase our product offerings as iGaming is legalized in additional states.\nExtensive usage of digital platforms, continued legalization in additional jurisdictions, and growing bettor demand are driving the market for online sports\nbetting platforms in the United States and the William Hill Acquisition positioned us to address this growing market.\nOn August 2, 2021, we launched our Caesars Sportsbook app on our owned and integrated technology platform we have labeled Liberty (“Liberty”). We\nlaunched a significant marketing campaign with distinguished actors, athletes and media personalities promoting the launch of the Caesars Sportsbook app.\nThe app offers extensive pre-match and live markets, extensive odds and flexible limits, player props, and same-game parlays. Caesars Sportsbook has\npartnerships with the NFL, NBA, NHL, MLB, and several individual teams, while being the exclusive odds provider for ESPN and CBS Sports. We have\ncontinued to create new partnerships among professional sports teams and, in 2021, entered into a 20-year exclusive naming-rights partnership branding the\nCaesars Superdome in New Orleans. In addition to the Caesars Sportsbook app, the Company and NYRABets LLC, the official online wagering platform\nof the New York Racing Association, Inc., launched the Caesars Racebook app. The Caesars Racebook app operates in eight states and provides access for\npari-mutuel wagering at over 300 racetracks around the world as well as livestreaming of races. Wagers placed can earn credits towards the Caesars\nRewards loyalty program or points which can be redeemed for free wagering credits. Growth in the Caesars Digital segment continues to be realized with\nthe strategic expansion into new states as jurisdictions legalize retail and online sports betting and online horse race wagering.\nSports Brand Partnerships — Our strategy includes developing local and national partnerships that align our sportsbooks, casinos, resorts and brands with\nsports fans. We have high-profile exclusive sports entertainment partnerships with the NFL, making Caesars the first-ever “Official Casino Sponsor” in the\nhistory of the league. This historic partnership combines the NFL’s legendary events with our properties to bring unique experiences to Caesars’ patrons.\nThis includes exclusive rights to use NFL trademarks to promote our properties and enabling Caesars to host exclusive special events and experiences.\nCaesars expects to continue to host brand activations at prominent, high-profile NFL events, including the NFL Draft, NFL playoffs, and the Super Bowl\nduring this multi-year partnership.\nFood and Beverage Operations\nOur food and beverage operations generate revenues from our dining venues, bars, nightclubs, and lounges located throughout our casinos and represented\napproximately 15% of our total net revenues in 2022. Many of our properties include several dining options, ranging from upscale dining experiences to\nmoderately-priced restaurants, some of which offer pickup or in-room delivery options.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_cash_flow",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow operating activities 993m, investing activities -768m, financing activities -\n1282m. Total cash flow -718m",
      "golden_context": "Page 68:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31,\n(In millions) 2022 2021 2020\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet loss $ (910) $ (1,016) $ (1,758)\nAdjustments to reconcile net loss to net cash provided by operating activities:\nLoss from discontinued operations 386 30 20\nDepreciation and amortization 1,205 1,126 583\nAmortization of deferred financing costs and discounts 297 347 156\nProvision for doubtful accounts 25 26 29\nDeferred revenue (2) (4) (11)\nLoss on extinguishment of debt 85 236 197\nNon-cash lease amortization 54 39 14\n(Gain) loss on investments 54 107 (34)\nStock compensation expense 101 82 79\n(Gain) loss on sale of businesses and disposal of property and equipment 5 11 (7)\nImpairment charges 108 102 215\n(Benefit) provision for deferred income taxes (41) (283) 176\n(Gain) loss on derivatives (73) 127 (9)\nForeign currency transaction gain — (21) (129)\nOther non-cash adjustments to net loss (57) (8) (2)\nChange in operating assets and liabilities:\nAccounts receivable (143) (135) (70)\nPrepaid expenses and other assets (15) (67) 9\nIncome taxes (receivable) payable (7) 13 (40)\nAccounts payable, accrued expenses and other liabilities (80) 486 25\nOther 1 1 (4)\nNet cash provided by (used in) operating activities 993 1,199 (561)\nCASH FLOWS FROM INVESTING ACTIVITIES:\nPurchase of property and equipment, net (952) (520) (164)\nFormer Caesars acquisition, net of cash acquired — — (6,314)\nAcquisition of William Hill, net of cash acquired — (1,581) —\nPurchase of additional interest in Horseshoe Baltimore, net of cash consolidated — (5) —\nAcquisition of gaming rights and trademarks (11) (312) (35)\nProceeds from sale of businesses, property and equipment, net of cash sold 39 726 366\nProceeds from the sale of investments 126 239 25\nProceeds from insurance related to property damage 36 44 17\nInvestments in unconsolidated affiliates — (39) (1)\nOther (6) — 6\nNet cash used in investing activities (768) (1,448) (6,100)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nProceeds from long-term debt and revolving credit facilities 1,500 1,308 9,765\nRepayments of long-term debt and revolving credit facilities (2,738) (1,977) (3,742)\nProceeds from sale-leaseback financing arrangement — — 3,224\nFinancing obligation payments (3) (5) (49)\nDebt issuance and extinguishment costs (12) (56) (356)\nProceeds from issuance of common stock 1 3 2,718\nCash paid to settle convertible notes — (367) (903)\nTaxes paid related to net share settlement of equity awards (27) (45) (16)\nDistributions to noncontrolling interest (3) (2) —\nNet cash provided by (used in) financing activities (1,282) (1,141) 10,641",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_company_type",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 3:\n\nCAESARS ENTERTAINMENT, INC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_key_financials",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues: 11bn, basic loss per share -4.19, diluted loss per share -4.19",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_revenue",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenue 11bn",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_revenue_growth",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue 11bn, previous yet 10bn",
      "golden_context": "Page 65:\n\nCAESARS ENTERTAINMENT, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(In millions, except per share data) 2022 2021 2020\nREVENUES:\nCasino $ 5,997 $ 5,827 $ 2,482\nFood and beverage 1,596 1,140 342\nHotel 1,957 1,551 450\nOther 1,271 1,052 354\nNet revenues 10,821 9,570 3,628\nEXPENSES:\nCasino 3,526 3,129 1,271\nFood and beverage 935 707 265\nHotel 529 438 170\nOther 411 373 140\nGeneral and administrative 2,068 1,782 902\nCorporate 286 309 195\nImpairment charges 108 102 215\nDepreciation and amortization 1,205 1,126 583\nTransaction and other costs 14 144 270\nTotal operating expenses 9,082 8,110 4,011\nOperating income (loss) 1,739 1,460 (383)\nOTHER EXPENSE:\nInterest expense, net (2,265) (2,295) (1,202)\nLoss on extinguishment of debt (85) (236) (197)\nOther income (loss) 46 (198) 176\nTotal other expense (2,304) (2,729) (1,223)\nLoss from continuing operations before income taxes (565) (1,269) (1,606)\nBenefit (provision) for income taxes 41 283 (132)\nLoss from continuing operations, net of income taxes (524) (986) (1,738)\nDiscontinued operations, net of income taxes (386) (30) (20)\nNet loss (910) (1,016) (1,758)\nNet (income) loss attributable to noncontrolling interests 11 (3) 1\nNet loss attributable to Caesars $ (899) $ (1,019) $ (1,757)\nNet loss per share - basic and diluted:\nBasic loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nBasic loss per share from discontinued operations (1.80) (0.14) (0.15)\nBasic loss per share $ (4.19) $ (4.83) $ (13.50)\nDiluted loss per share from continuing operations $ (2.39) $ (4.69) $ (13.35)\nDiluted loss per share from discontinued operations (1.80) (0.14) (0.15)\nDiluted loss per share $ (4.19) $ (4.83) $ (13.50)\nWeighted average basic shares outstanding 214 211 130\nWeighted average diluted shares outstanding 214 211 130\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000071_segments",
      "report_id": "ID_000071",
      "company_name": "Caesars Entertainment",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Casino, Online Sports Betting and iGaming, Food and Beverage Operations, Hotel Operations, Management and Branding Arrangements, Entertainment and Other Non-Gaming Operations",
      "golden_context": "Page 7:\n\nusiness Operations\nOur consolidated business is composed of complementary businesses that reinforce, cross-promote, and build upon each other: casino, which includes\nour online sports betting and iGaming, food and beverage, hotel, casino management services, entertainment, retail and other business operations.\nCasino Operations\nOur casino operations generate revenues from approximately 52,800 slot machines, 2,800 table games, including poker, sports betting from our retail and\nonline sportsbooks, iGaming and other games such as keno, all of which comprised approximately 55% of our total net revenues in 2022. Slot revenues\ngenerate the majority of our casino revenues.\nOnline Sports Betting and iGaming\nAs a result of our acquisition of William Hill PLC on April 22, 2021, we significantly expanded our online sports betting and iGaming presence. We operate\nand conduct sports wagering across 28 jurisdictions in North America as of December 31, 2022. Additionally, we operate regulated online real money\ngaming businesses in six jurisdictions in North America and continue to leverage the World Series of Poker (“WSOP”) brand, and license the WSOP\ntrademarks for a variety of products and services. We offer hundreds of online casino games including slots, table games, live dealer and video poker and\nwe expect to increase our product offerings as iGaming is legalized in additional states.\nExtensive usage of digital platforms, continued legalization in additional jurisdictions, and growing bettor demand are driving the market for online sports\nbetting platforms in the United States and the William Hill Acquisition positioned us to address this growing market.\nOn August 2, 2021, we launched our Caesars Sportsbook app on our owned and integrated technology platform we have labeled Liberty (“Liberty”). We\nlaunched a significant marketing campaign with distinguished actors, athletes and media personalities promoting the launch of the Caesars Sportsbook\napp. The app offers extensive pre-match and live markets, extensive odds and flexible limits, player props, and same-game parlays. Caesars Sportsbook\nhas partnerships with the NFL, NBA, NHL, MLB, and several individual teams, while being the exclusive odds provider for ESPN and CBS Sports. We\nhave continued to create new partnerships among professional sports teams and, in 2021, entered into a 20-year exclusive naming-rights partnership\nbranding the Caesars Superdome in New Orleans. In addition to the Caesars Sportsbook app, the Company and NYRABets LLC, the official online\nwagering platform of the New York Racing Association, Inc., launched the Caesars Racebook app. The Caesars Racebook app operates in eight states\nand provides access for pari-mutuel wagering at over 300 racetracks around the world as well as livestreaming of races. Wagers placed can earn credits\ntowards the Caesars Rewards loyalty program or points which can be redeemed for free wagering credits. Growth in the Caesars Digital segment\ncontinues to be realized with the strategic expansion into new states as jurisdictions legalize retail and online sports betting and online horse race\nwagering.\nSports Brand Partnerships — Our strategy includes developing local and national partnerships that align our sportsbooks, casinos, resorts and brands\nwith sports fans. We have high-profile exclusive sports entertainment partnerships with the NFL, making Caesars the first-ever “Official Casino Sponsor”\nin the history of the league. This historic partnership combines the NFL ’s legendary events with our properties to bring unique experiences to Caesars’\npatrons. This includes exclusive rights to use NFL trademarks to promote our properties and enabling Caesars to host exclusive special events and\nexperiences. Caesars expects to continue to host brand activations at prominent, high-profile NFL events, including the NFL Draft, NFL playoffs, and the\nSuper Bowl during this multi-year partnership.\nFood and Beverage Operations\nOur food and beverage operations generate revenues from our dining venues, bars, nightclubs, and lounges located throughout our casinos and\nrepresented approximately 15% of our total net revenues in 2022. Many of our properties include several dining options, ranging from upscale dining\nexperiences to moderately-priced restaurants, some of which offer pickup or in-room delivery options.\n\nPage 8:\n\nHotel Operations\nHotel operations generate revenues from hotel stays at our properties in our approximately 47,200 guest rooms and suites worldwide and represented\napproximately 18% of our total net revenues in 2022. Our properties operate at various price and service points, allowing us to host a variety of casino\nguests, who are visiting our properties for gaming and other casino entertainment options, and non-casino guests who are visiting our properties for other\npurposes, such as vacation travel or conventions.\nManagement and Branding Arrangements\nWe earn revenue from fees paid for the management of domestic and international hotels and casinos. Managed properties represent Caesars-branded\nproperties where we provide certain staffing and management services under management agreements. In addition, we authorize the use of certain\nbrands and marks of Caesars Entertainment, Inc from which we earn revenue from fees received based on the arrangements.\nEntertainment and Other Non-Gaming Operations\nWe provide a variety of retail and entertainment offerings at our properties. We operate various entertainment venues across the United States, including\nthe Colosseum at Caesars Palace and Zappos Theater at Planet Hollywood. These award-winning entertainment venues host or have announced plans to\nhost, prominent headliners, such as Garth Brooks, Sting, Keith Urban and Miranda Lambert.\nThe LINQ Promenade is an open-air dining, entertainment, and retail development located between The LINQ Hotel & Casino and Flamingo Las Vegas,\nwhich features The High Roller, a 550-foot observation wheel, and Fly LINQ, the first and only zipline on the Las Vegas Strip. The retail stores offer\nguests a wide range of options from high-end brands and accessories to souvenirs and decorative items.\nCAESARS FORUM is a 550,000 square-foot state-of-the-art conference center located at the center of the Las Vegas Strip. CAESARS FORUM can\naccommodate more than 10,000 participants and features more than 300,000 square feet of flexible meeting space, the two largest pillarless ballrooms in\nthe world, a LEED silver-rated FORUM Plaza, and the first 100,000 square-foot outdoor meeting and event space in Las Vegas.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_cash_flow",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Cash provided by operations 817m",
      "golden_context": "Page 34:\n\nSELECTED FINANCIAL DATA\nFOR YEAR ENDED APRIL 30:\n(Dollars in millions, except per share amounts) 2017 2018 2019 2020 2021\nSALES $ 3,857 $ 4,201 $ 4,276 $ 4,306 $ 4,526\nEXCISE TAXES $ 863 $ 953 $ 952 $ 943 $ 1,065\nNET SALES $ 2,994 $ 3,248 $ 3,324 $ 3,363 $ 3,461\nGROSS PROFIT $ 2,021 $ 2,202 $ 2,166 $ 2,127 $ 2,094\nOPERATING INCOME $ 1,010 $ 1,048 $ 1,144 $ 1,091 $ 1,166\nNET INCOME $ 669 $ 717 $ 835 $ 827 $ 903\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 484.6 480.3 479.0 477.8 478.5\n— Diluted 488.1 484.2 482.1 480.4 480.7\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.38 $ 1.49 $ 1.74 $ 1.73 $ 1.89\n— Diluted $ 1.37 $ 1.48 $ 1.73 $ 1.72 $ 1.88\nGROSS MARGIN 67.5% 67.8% 65.2% 63.2% 60.5%\nOPERATING MARGIN 33.8% 32.3% 34.4% 32.4% 33.7%\nEFFECTIVE TAX RATE 28.3% 26.6% 19.8% 18.0% 16.5%\nAVERAGE INVESTED CAPITAL $ 3,591 $ 3,832 $ 4,125 $ 4,387 $ 4,966\nRETURN ON AVERAGE INVESTED CAPITAL 19.8% 20.0% 22.0% 20.4% 19.6%\nCASH PROVIDED BY OPERATIONS $ 656 $ 653 $ 800 $ 724 $ 817\nCASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.5640 $ 1.6080 $ 0.6480 $ 0.6806 $ 0.7076\nDIVIDEND PAYOUT RATIO 40.9% 107.8% 37.2% 39.3% 37.5%\nAS OF APRIL 30:\nTOTAL ASSETS $ 4,625 $ 4,976 $ 5,139 $ 5,766 $ 6,522\nLONG-TERM DEBT $ 1,689 $ 2,341 $ 2,290 $ 2,269 $ 2,354\nTOTAL DEBT $ 2,149 $ 2,556 $ 2,440 $ 2,602 $ 2,559",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_company_type",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "corp",
      "golden_context": "Page 35:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n(Mark One)\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended April 30, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-00123\nBROWN-FORMAN CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 61-0143150\n(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)\n850 Dixie Highway\nLouisville, Kentucky ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_key_financials",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Sales 4.5bn, net income 903m, cash provided by operations 817m, 3.5bn regular dividends",
      "golden_context": "Page 8:\n\n$8.3 BILLION\nWE RETURNED CASH TO\nSHAREHOLDERS, INCLUDING\nREGULAR DIVIDENDS OF\n$3.5 BILLION, FOUR SPECIAL\nCASH DIVIDENDS TOTALING\n$1.7 BILLION, AND $3 BILLION\nIN SHARE REPURCHASES.\n\nPage 34:\n\nSELECTED FINANCIAL DATA\nFOR YEAR ENDED APRIL 30:\n(Dollars in millions, except per share amounts) 2017 2018 2019 2020 2021\nSALES $ 3,857 $ 4,201 $ 4,276 $ 4,306 $ 4,526\nEXCISE TAXES $ 863 $ 953 $ 952 $ 943 $ 1,065\nNET SALES $ 2,994 $ 3,248 $ 3,324 $ 3,363 $ 3,461\nGROSS PROFIT $ 2,021 $ 2,202 $ 2,166 $ 2,127 $ 2,094\nOPERATING INCOME $ 1,010 $ 1,048 $ 1,144 $ 1,091 $ 1,166\nNET INCOME $ 669 $ 717 $ 835 $ 827 $ 903\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 484.6 480.3 479.0 477.8 478.5\n— Diluted 488.1 484.2 482.1 480.4 480.7\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.38 $ 1.49 $ 1.74 $ 1.73 $ 1.89\n— Diluted $ 1.37 $ 1.48 $ 1.73 $ 1.72 $ 1.88\nGROSS MARGIN 67.5% 67.8% 65.2% 63.2% 60.5%\nOPERATING MARGIN 33.8% 32.3% 34.4% 32.4% 33.7%\nEFFECTIVE TAX RATE 28.3% 26.6% 19.8% 18.0% 16.5%\nAVERAGE INVESTED CAPITAL $ 3,591 $ 3,832 $ 4,125 $ 4,387 $ 4,966\nRETURN ON AVERAGE INVESTED CAPITAL 19.8% 20.0% 22.0% 20.4% 19.6%\nCASH PROVIDED BY OPERATIONS $ 656 $ 653 $ 800 $ 724 $ 817\nCASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.5640 $ 1.6080 $ 0.6480 $ 0.6806 $ 0.7076\nDIVIDEND PAYOUT RATIO 40.9% 107.8% 37.2% 39.3% 37.5%\nAS OF APRIL 30:\nTOTAL ASSETS $ 4,625 $ 4,976 $ 5,139 $ 5,766 $ 6,522\nLONG-TERM DEBT $ 1,689 $ 2,341 $ 2,290 $ 2,269 $ 2,354\nTOTAL DEBT $ 2,149 $ 2,556 $ 2,440 $ 2,602 $ 2,559",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_revenue",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Sales 4.5bn",
      "golden_context": "Page 34:\n\nSELECTED FINANCIAL DATA\nFOR YEAR ENDED APRIL 30:\n(Dollars in millions, except per share amounts) 2017 2018 2019 2020 2021\nSALES $ 3,857 $ 4,201 $ 4,276 $ 4,306 $ 4,526\nEXCISE TAXES $ 863 $ 953 $ 952 $ 943 $ 1,065\nNET SALES $ 2,994 $ 3,248 $ 3,324 $ 3,363 $ 3,461\nGROSS PROFIT $ 2,021 $ 2,202 $ 2,166 $ 2,127 $ 2,094\nOPERATING INCOME $ 1,010 $ 1,048 $ 1,144 $ 1,091 $ 1,166\nNET INCOME $ 669 $ 717 $ 835 $ 827 $ 903\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 484.6 480.3 479.0 477.8 478.5\n— Diluted 488.1 484.2 482.1 480.4 480.7\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.38 $ 1.49 $ 1.74 $ 1.73 $ 1.89\n— Diluted $ 1.37 $ 1.48 $ 1.73 $ 1.72 $ 1.88\nGROSS MARGIN 67.5% 67.8% 65.2% 63.2% 60.5%\nOPERATING MARGIN 33.8% 32.3% 34.4% 32.4% 33.7%\nEFFECTIVE TAX RATE 28.3% 26.6% 19.8% 18.0% 16.5%\nAVERAGE INVESTED CAPITAL $ 3,591 $ 3,832 $ 4,125 $ 4,387 $ 4,966\nRETURN ON AVERAGE INVESTED CAPITAL 19.8% 20.0% 22.0% 20.4% 19.6%\nCASH PROVIDED BY OPERATIONS $ 656 $ 653 $ 800 $ 724 $ 817\nCASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.5640 $ 1.6080 $ 0.6480 $ 0.6806 $ 0.7076\nDIVIDEND PAYOUT RATIO 40.9% 107.8% 37.2% 39.3% 37.5%\nAS OF APRIL 30:\nTOTAL ASSETS $ 4,625 $ 4,976 $ 5,139 $ 5,766 $ 6,522\nLONG-TERM DEBT $ 1,689 $ 2,341 $ 2,290 $ 2,269 $ 2,354\nTOTAL DEBT $ 2,149 $ 2,556 $ 2,440 $ 2,602 $ 2,559",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_revenue_growth",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Sales 4.5bn, previous year 4.3bn",
      "golden_context": "Page 34:\n\nSELECTED FINANCIAL DATA\nFOR YEAR ENDED APRIL 30:\n(Dollars in millions, except per share amounts) 2017 2018 2019 2020 2021\nSALES $ 3,857 $ 4,201 $ 4,276 $ 4,306 $ 4,526\nEXCISE TAXES $ 863 $ 953 $ 952 $ 943 $ 1,065\nNET SALES $ 2,994 $ 3,248 $ 3,324 $ 3,363 $ 3,461\nGROSS PROFIT $ 2,021 $ 2,202 $ 2,166 $ 2,127 $ 2,094\nOPERATING INCOME $ 1,010 $ 1,048 $ 1,144 $ 1,091 $ 1,166\nNET INCOME $ 669 $ 717 $ 835 $ 827 $ 903\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 484.6 480.3 479.0 477.8 478.5\n— Diluted 488.1 484.2 482.1 480.4 480.7\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.38 $ 1.49 $ 1.74 $ 1.73 $ 1.89\n— Diluted $ 1.37 $ 1.48 $ 1.73 $ 1.72 $ 1.88\nGROSS MARGIN 67.5% 67.8% 65.2% 63.2% 60.5%\nOPERATING MARGIN 33.8% 32.3% 34.4% 32.4% 33.7%\nEFFECTIVE TAX RATE 28.3% 26.6% 19.8% 18.0% 16.5%\nAVERAGE INVESTED CAPITAL $ 3,591 $ 3,832 $ 4,125 $ 4,387 $ 4,966\nRETURN ON AVERAGE INVESTED CAPITAL 19.8% 20.0% 22.0% 20.4% 19.6%\nCASH PROVIDED BY OPERATIONS $ 656 $ 653 $ 800 $ 724 $ 817\nCASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.5640 $ 1.6080 $ 0.6480 $ 0.6806 $ 0.7076\nDIVIDEND PAYOUT RATIO 40.9% 107.8% 37.2% 39.3% 37.5%\nAS OF APRIL 30:\nTOTAL ASSETS $ 4,625 $ 4,976 $ 5,139 $ 5,766 $ 6,522\nLONG-TERM DEBT $ 1,689 $ 2,341 $ 2,290 $ 2,269 $ 2,354\nTOTAL DEBT $ 2,149 $ 2,556 $ 2,440 $ 2,602 $ 2,559",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000073_segments",
      "report_id": "ID_000073",
      "company_name": "Brown Forman",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Manufacture, distill, bottle, import, export, market, sell wide variety of beverage alcohol products.",
      "golden_context": "Page 38:\n\nBrown-Forman Corporation (the “Company,” “Brown-Forman,” “we,” “us,” or “our” below) was incorporated under the\nlaws of the State of Delaware in 1933, successor to a business founded in 1870 as a partnership and later incorporated under the\nlaws of the Commonwealth of Kentucky in 1901. We primarily manufacture, distill, bottle, import, export, market, and sell a\nwide variety of beverage alcohol products under recognized brands. We employ approximately 4,700 people (excluding\nindividuals that work on a part-time or temporary basis) on six continents, including approximately 2,600 people in the United\nStates (approximately 14% of which are represented by a union) and 1,200 people in Louisville, Kentucky, USA, home of our\nworld headquarters. According to International Wine & Spirit Research (IWSR), we are the largest American-owned spirits and\nwine company with global reach. We are a “controlled company” under New York Stock Exchange rules because the Brown\nfamily owns more than 50% of our voting stock. Taking into account ownership of shares of our non-voting stock, the Brown\nfamily also controls more than 50% of the economic ownership in Brown-Forman.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_cash_flow",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "640m cash provided by operations",
      "golden_context": "Page 18: \n\nSELECTED\nFinancial Data\nFor Year ended April 30:\n(Dollars in millions, except per share amounts) 2019 2020 20211\n2022 2023\nSALES $ 4,276 $ 4,306 $ 4,526 $ 5,081 $ 5,372\nEXCISE TAXES $ 952 $ 943 $ 1,065 $ 1,148 $ 1,144\nNET SALES $ 3,324 $ 3,363 $ 3,461 $ 3,933 $ 4,228\nGROSS PROFIT $ 2,166 $ 2,127 $ 2,094 $ 2,391 $ 2,494\nOPERATING INCOME $ 1,144 $ 1,091 $ 1,166 $ 1,204 $ 1,127\nNET INCOME $ 835 $ 827 $ 903 $ 838 $ 783\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 479.0 477.8 478.5 478.9 479.2\n— Diluted 482.1 480.4 480.7 480.6 480.5\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.74 $ 1.73 $ 1.89 $ 1.75 $ 1.63\n— Diluted $ 1.73 $ 1.72 $ 1.88 $ 1.74 $ 1.63\nGROSS MARGIN 65.2% 63.2% 60.5% 60.8% 59.0%\nOPERATING MARGIN 34.4% 32.4% 33.7% 30.6% 26.7%\nEFFECTIVE TAX RATE 19.8% 18.0% 16.5% 24.7% 23.0%\nAVERAGE INVESTED CAPITAL2 $ 3,971 $ 4,301 $ 4,969 $ 5,104 $ 5,551\nRETURN ON AVERAGE INVESTED CAPITAL2\n22.8% 20.8% 19.5% 17.6% 15.3%\nCASH PROVIDED BY OPERATIONS $ 800 $ 724 $ 817 $ 936 $ 640\nCASH DIVIDENDS DECLARED PER COMMON SHARE3 $ 0.6480 $ 0.6806 $ 0.7076 $ 1.7360 $ 0.7880\nDIVIDEND PAYOUT RATIO3,4\n37.2% 39.3% 37.5% 99.2% 48.3%\nas of April 30:\nTOTAL ASSETS $ 5,139 $ 5,766 $ 6,522 $ 6,373 $ 7,777\nLONG-TERM DEBT $ 2,290 $ 2,269 $ 2,354 $ 2,019 $ 2,678\nTOTAL DEBT $ 2,440 $ 2,602 $ 2,559 $ 2,269 $ 2,913",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_company_type",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corp",
      "golden_context": "Page 19:\n\nCommission File Number 001-00123\nBROWN-FORMAN CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_key_financials",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "18% net sales reported growth\n\n5.4bn sales, 640m cash provided by operations",
      "golden_context": "Page 8:\n\n25M\n9L cases\nBrown-Forman’s\nRTD business\n18%\nNet Sales\nreported growth\nin fiscal 2023\n3rd\nLargest\ncontributor to\nBrown-Forman’s\nreported net sales growth\n(Jack Daniel’s RTDs)\nJack Daniel’s Can Cocktails\nThese spirits-based cocktails,\nincluding Jack & Cola, Jack Honey\n& Lemonade, and Jack & Berry,\nare the #1 whiskey-based RTDs\nglobally with over 11M 9L cases\nsold in fiscal 2023.\nJack Daniel’s & Coca-Cola RTD\nThis new product, combining two\nlegendary brands in one can,\nlaunched in fiscal 2023.\nNew Mix\nThis el Jimador tequila-based\nRTD sold nearly 10 million 9L\ncases in fiscal 2023.\nJack Daniel’s Country Cocktails\nLaunched in the U.S. in 1992, our\nfirst RTD offers single-serve malt\nbeverages combining citrus,\nberry, and other flavors with a\nhint of Jack Daniel’s Tennessee\nWhiskey flavor.\n4th\nFastest-Growing\nflavored malt beverage\nin the U.S. (Jack Daniel’s\nCountry Cocktails)\nSource: Nielsen\nPart-Time Rangers\nThis New Zealand-based brand,\nwhich joined our portfolio in fiscal\n2021, provides low-calorie,\nspirits- based RTD\nproducts with all-natural\nfruit flavoring.\n\n\nPage 18:\n\nSELECTED\nFinancial Data\nFor Year ended April 30:\n(Dollars in millions, except per share amounts) SALES 2019 $ 4,276 2020 $ 4,306 20211\n$ 4,526 2022 $ 5,081 2023\n$ 5,372\nEXCISE TAXES $ 952 $ 943 $ 1,065 $ 1,148 $ 1,144\nNET SALES $ 3,324 $ 3,363 $ 3,461 $ 3,933 $ 4,228\nGROSS PROFIT $ 2,166 $ 2,127 $ 2,094 $ 2,391 $ 2,494\nOPERATING INCOME $ 1,144 $ 1,091 $ 1,166 $ 1,204 $ 1,127\nNET INCOME $ 835 $ 827 $ 903 $ 838 $ 783\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 479.0 477.8 478.5 478.9 479.2\n— Diluted 482.1 480.4 480.7 480.6 480.5\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.74 $ 1.73 $ 1.89 $ 1.75 $ 1.63\n— Diluted $ 1.73 $ 1.72 $ 1.88 $ 1.74 $ 1.63\nGROSS MARGIN 65.2% 63.2% 60.5% 60.8% 59.0%\nOPERATING MARGIN 34.4% 32.4% 33.7% 30.6% 26.7%\nEFFECTIVE TAX RATE 19.8% 18.0% 16.5% 24.7% 23.0%\nAVERAGE INVESTED CAPITAL2 $ 3,971 $ 4,301 $ 4,969 $ 5,104 $ 5,551\nRETURN ON AVERAGE INVESTED CAPITAL2\n22.8% 20.8% 19.5% 17.6% 15.3%\nCASH PROVIDED BY OPERATIONS $ 800 $ 724 $ 817 $ 936 $ 640\nCASH DIVIDENDS DECLARED PER COMMON SHARE3 $ 0.6480 $ 0.6806 $ 0.7076 $ 1.7360 $ 0.7880\nDIVIDEND PAYOUT RATIO3,4\n37.2% 39.3% 37.5% 99.2% 48.3%\nas of April 30:\nTOTAL ASSETS $ 5,139 $ 5,766 $ 6,522 $ 6,373 $ 7,777\nLONG-TERM DEBT $ 2,290 $ 2,269 $ 2,354 $ 2,019 $ 2,678\nTOTAL DEBT $ 2,440 $ 2,602 $ 2,559 $ 2,269 $ 2,913",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_revenue",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "5.4bn sales",
      "golden_context": "Page 18: \n\nSELECTED\nFinancial Data\nFor Year ended April 30:\n(Dollars in millions, except per share amounts) 2019 2020 20211\n2022 2023\nSALES $ 4,276 $ 4,306 $ 4,526 $ 5,081 $ 5,372\nEXCISE TAXES $ 952 $ 943 $ 1,065 $ 1,148 $ 1,144\nNET SALES $ 3,324 $ 3,363 $ 3,461 $ 3,933 $ 4,228\nGROSS PROFIT $ 2,166 $ 2,127 $ 2,094 $ 2,391 $ 2,494\nOPERATING INCOME $ 1,144 $ 1,091 $ 1,166 $ 1,204 $ 1,127\nNET INCOME $ 835 $ 827 $ 903 $ 838 $ 783\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 479.0 477.8 478.5 478.9 479.2\n— Diluted 482.1 480.4 480.7 480.6 480.5\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.74 $ 1.73 $ 1.89 $ 1.75 $ 1.63\n— Diluted $ 1.73 $ 1.72 $ 1.88 $ 1.74 $ 1.63\nGROSS MARGIN 65.2% 63.2% 60.5% 60.8% 59.0%\nOPERATING MARGIN 34.4% 32.4% 33.7% 30.6% 26.7%\nEFFECTIVE TAX RATE 19.8% 18.0% 16.5% 24.7% 23.0%\nAVERAGE INVESTED CAPITAL2 $ 3,971 $ 4,301 $ 4,969 $ 5,104 $ 5,551\nRETURN ON AVERAGE INVESTED CAPITAL2\n22.8% 20.8% 19.5% 17.6% 15.3%\nCASH PROVIDED BY OPERATIONS $ 800 $ 724 $ 817 $ 936 $ 640\nCASH DIVIDENDS DECLARED PER COMMON SHARE3 $ 0.6480 $ 0.6806 $ 0.7076 $ 1.7360 $ 0.7880\nDIVIDEND PAYOUT RATIO3,4\n37.2% 39.3% 37.5% 99.2% 48.3%\nas of April 30:\nTOTAL ASSETS $ 5,139 $ 5,766 $ 6,522 $ 6,373 $ 7,777\nLONG-TERM DEBT $ 2,290 $ 2,269 $ 2,354 $ 2,019 $ 2,678\nTOTAL DEBT $ 2,440 $ 2,602 $ 2,559 $ 2,269 $ 2,913",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_revenue_growth",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "5.4bn sales, 5.1bn in the previous year",
      "golden_context": "Page 18: \n\nSELECTED\nFinancial Data\nFor Year ended April 30:\n(Dollars in millions, except per share amounts) 2019 2020 20211\n2022 2023\nSALES $ 4,276 $ 4,306 $ 4,526 $ 5,081 $ 5,372\nEXCISE TAXES $ 952 $ 943 $ 1,065 $ 1,148 $ 1,144\nNET SALES $ 3,324 $ 3,363 $ 3,461 $ 3,933 $ 4,228\nGROSS PROFIT $ 2,166 $ 2,127 $ 2,094 $ 2,391 $ 2,494\nOPERATING INCOME $ 1,144 $ 1,091 $ 1,166 $ 1,204 $ 1,127\nNET INCOME $ 835 $ 827 $ 903 $ 838 $ 783\nWEIGHTED AVERAGE SHARES (IN MILLIONS) USED TO\nCALCULATE EARNINGS PER SHARE\n— Basic 479.0 477.8 478.5 478.9 479.2\n— Diluted 482.1 480.4 480.7 480.6 480.5\nEARNINGS PER SHARE FROM CONTINUING OPERATIONS\n— Basic $ 1.74 $ 1.73 $ 1.89 $ 1.75 $ 1.63\n— Diluted $ 1.73 $ 1.72 $ 1.88 $ 1.74 $ 1.63\nGROSS MARGIN 65.2% 63.2% 60.5% 60.8% 59.0%\nOPERATING MARGIN 34.4% 32.4% 33.7% 30.6% 26.7%\nEFFECTIVE TAX RATE 19.8% 18.0% 16.5% 24.7% 23.0%\nAVERAGE INVESTED CAPITAL2 $ 3,971 $ 4,301 $ 4,969 $ 5,104 $ 5,551\nRETURN ON AVERAGE INVESTED CAPITAL2\n22.8% 20.8% 19.5% 17.6% 15.3%\nCASH PROVIDED BY OPERATIONS $ 800 $ 724 $ 817 $ 936 $ 640\nCASH DIVIDENDS DECLARED PER COMMON SHARE3 $ 0.6480 $ 0.6806 $ 0.7076 $ 1.7360 $ 0.7880\nDIVIDEND PAYOUT RATIO3,4\n37.2% 39.3% 37.5% 99.2% 48.3%\nas of April 30:\nTOTAL ASSETS $ 5,139 $ 5,766 $ 6,522 $ 6,373 $ 7,777\nLONG-TERM DEBT $ 2,290 $ 2,269 $ 2,354 $ 2,019 $ 2,678\nTOTAL DEBT $ 2,440 $ 2,602 $ 2,559 $ 2,269 $ 2,913",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000074_segments",
      "report_id": "ID_000074",
      "company_name": "Brown Forman",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Manufacture, distill, bottle, import, export, market, sell wide variety of beverage alcohol products.",
      "golden_context": "Page 22:\n\ntem 1. Business\nOverview\nBrown-Forman Corporation (the “Company,\n” “Brown-Forman,\n” “we,\n” “us,\n” or “our” below) was incorporated under the laws of the State of Delaware in\n1933, successor to a business founded in 1870 as a partnership and later incorporated under the laws of the Commonwealth of Kentucky in 1901. We primarily\nmanufacture, distill, bottle, import, export, market, and sell a wide variety of beverage alcohol products under recognized brands. We employ approximately\n5,600 people (excluding individuals who work on a part-time or temporary basis) on six continents, including approximately 2,700 people in the United States\n(approximately 14% of whom are represented by a union) and 1,200 people in Louisville, Kentucky, USA, home of our world headquarters. According to\nInternational Wine & Spirit Research (IWSR), we are the largest American-owned spirits and wine company with global reach. We are a “controlled company”\nunder New York Stock Exchange rules because the Brown family owns more than 50% of our voting stock. Taking into account ownership of shares of our\nnon-voting stock, the Brown family also controls more than 50% of the economic ownership in Brown-Forman.\nFor a discussion of recent developments, see “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations –\nExecutive Summary.\n”\nBrands\nBeginning in 1870 with Old Forester Kentucky Straight Bourbon Whisky – our founding brand – and spanning the generations since, we have built a\nportfolio of more than 40 spirit, ready-to-drink (RTD) cocktail, and wine brands that includes some of the best-known and most loved trademarks in our\n1\nindustry. The most important and iconic brand in our portfolio is Jack Daniel’s Tennessee Whiskey, the #1 selling American whiskey in the world. Jack\nDaniel’s Tennessee Whiskey was recently named the most valuable spirits brand in the world in the 2022 Interbrand “Best Global Brands” rankings, and the\nnewly released Jack Daniel's Bonded Tennessee Whiskey was named the \"2022 Whisky of the Year\" by Whisky Advocate. Our premium bourbons, Woodford\nReserve and Old Forester, were once again selected for the Impact “Hot Brands” 2\nlist, marking ten and five consecutive years on the list, respectively, as were\nJack Daniel's RTDs. Our super premium tequila, Herradura, received two Gold medals at the San Francisco World Spirits competition in 2023, one for\nReposado and the one ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_cash_flow",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "US GAAP operating cash flows: 1078.1m, total cash flow 347.5m",
      "golden_context": "Page 57:\n\nCash flows information (1) $ in millions\nYear ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019\nU.S.\nGAAP\nImpact\nof CIP\nExcluding\nCIP\nU.S.\nGAAP\nImpact\nof CIP\nExcluding\nCIP\nU.S.\nGAAP\nImpact\nof CIP\nExcluding\nCIP\nCash, cash equivalents and restricted\ncash, beginning of the period (2) 1,839.3 301.7 1,537.6 1,701.2 652.2 1,049.0 1,805.4 657.7 1,147.7\nCash flows from operating activities (1) 1,078.1 (436.1) 1,514.2 1,230.3 (72.7) 1,303.0 1,116.6 (158.3) 1,274.9\nCash flows from investing activities (847.9) (755.4) (92.5) (859.6) (729.9) (129.7) (1,432.8) (1,514.8) 82.0\nCash flows from financing activities 117.3 1,148.0 (1,030.7) (285.9) 426.3 (712.2) 201.3 1,674.6 (1,473.3)\nIncrease/(decrease) in cash and cash\nequivalents 347.5 (43.5) 391.0 84.8 (376.3) 461.1 (114.9) 1.5 (116.4)\nForeign exchange movement on cash\nand cash equivalents (39.7) (7.5) (32.2) 53.3 25.8 27.5 10.7 (7.0) 17.7\nCash, cash equivalents and restricted\ncash, end of the period 2,147.1 250.7 1,896.4 1,839.3 301.7 1,537.6 1,701.2 652.2 1,049.0\nCash and cash equivalents 1,896.4 — 1,896.4 1,408.4 — 1,408.4 1,049.0 — 1,049.0\nRestricted cash(2)\n— — — 129.2 — 129.2 — — —\nCash and cash equivalents of CIP 250.7 250.7 — 301.7 301.7 — 652.2 652.2 —\nTotal cash, cash equivalents and\nrestricted cash per consolidated\nstatement of cash flows 2,147.1 250.7 1,896.4 1,839.3 301.7 1,537.6 1,701.2 652.2 1,049.0",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_company_type",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nInvesco Ltd.\n(Exact Name of Registrant as Specified in Its Ch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_key_financials",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues 6.9bn, operating income: 1.8bn, 1.4bn net income attributable to Invesco Ltd., 2.99 diluted EPS",
      "golden_context": "Page 31:\n\n$ in millions, other than per common share amounts, operating margins and AUM U.S. GAAP Financial Measures Summary Year ended December 31,\n2021 2020 2019\nOperating revenues 6,894.5 6,145.6 6,117.4\nOperating income 1,788.2 920.4 808.2\nOperating margin 25.9 % 15.0 % 13.2 Net income attributable to Invesco Ltd. 1,393.0 524.8 564.7\nDiluted EPS 2.99 1.13 1.28\nNon-GAAP Financial Measures Summary\nNet revenues (1) 5,261.1 4,501.0 4,415.1\nAdjusted operating income (2) 2,182.6 1,664.5 1,655.8\nAdjusted operating margin (2) 41.5 % 37.0 % 37.5 Adjusted net income attributable to Invesco Ltd. (3) 1,439.6 892.9 1,124.0\nAdjusted diluted EPS (3) 3.09 1.93 2.55\nAssets Under Management\nEnding AUM (billions) 1,610.9 1,349.9 1,226.2\nAverage AUM (billions) 1,499.9 1,194.9 1,094.4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_revenue",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Operating revenues 6.9bn",
      "golden_context": "Page 31:\n\n$ in millions, other than per common share amounts, operating margins and AUM U.S. GAAP Financial Measures Summary Year ended December 31,\n2021 2020 2019\nOperating revenues 6,894.5 6,145.6 6,117.4\nOperating income 1,788.2 920.4 808.2\nOperating margin 25.9 % 15.0 % 13.2 Net income attributable to Invesco Ltd. 1,393.0 524.8 564.7\nDiluted EPS 2.99 1.13 1.28\nNon-GAAP Financial Measures Summary\nNet revenues (1) 5,261.1 4,501.0 4,415.1\nAdjusted operating income (2) 2,182.6 1,664.5 1,655.8\nAdjusted operating margin (2) 41.5 % 37.0 % 37.5 Adjusted net income attributable to Invesco Ltd. (3) 1,439.6 892.9 1,124.0\nAdjusted diluted EPS (3) 3.09 1.93 2.55\nAssets Under Management\nEnding AUM (billions) 1,610.9 1,349.9 1,226.2\nAverage AUM (billions) 1,499.9 1,194.9 1,094.4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_revenue_growth",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues 6.9bn, previous year 6.1bn",
      "golden_context": "Page 31:\n\n$ in millions, other than per common share amounts, operating margins and AUM U.S. GAAP Financial Measures Summary Year ended December 31,\n2021 2020 2019\nOperating revenues 6,894.5 6,145.6 6,117.4\nOperating income 1,788.2 920.4 808.2\nOperating margin 25.9 % 15.0 % 13.2 Net income attributable to Invesco Ltd. 1,393.0 524.8 564.7\nDiluted EPS 2.99 1.13 1.28\nNon-GAAP Financial Measures Summary\nNet revenues (1) 5,261.1 4,501.0 4,415.1\nAdjusted operating income (2) 2,182.6 1,664.5 1,655.8\nAdjusted operating margin (2) 41.5 % 37.0 % 37.5 Adjusted net income attributable to Invesco Ltd. (3) 1,439.6 892.9 1,124.0\nAdjusted diluted EPS (3) 3.09 1.93 2.55\nAssets Under Management\nEnding AUM (billions) 1,610.9 1,349.9 1,226.2\nAverage AUM (billions) 1,499.9 1,194.9 1,094.4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000075_segments",
      "report_id": "ID_000075",
      "company_name": "Invesco",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, institutional\n\nRetail: closed-end mutual funds, exchange-traded funds (ETF), individual savings accounts (ISA), investment companies with variable capital (ICVC), investment trusts, open-end mutual funds, separately managed accounts (SMA), societe d'investissement a capital variable (SICAV), unit investment trusts (UIT), variable insurance funds\n\nInstitutional: collective trust funds, exchange-trade funds (ETF) institutional separate accounts, open-end mutual funds, private funds",
      "golden_context": "Page 7:\n\nInvesco Ltd.\n(Exact Name of Registrant as Specified in Its Ch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_cash_flow",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "cash and cash equivalents decreased by 661.7m.",
      "golden_context": "Page 55:\n\nCash and cash equivalents\nCash and cash equivalents decreased by $661.7 million from $1,896.4 million at December 31, 2021 to $1,234.7 million at\nDecember 31, 2022. See “Cash Flows Discussion” in the following section within this Management's Discussion and Analysis\nfor additional discussion regarding the movements in cash flows during the periods. See Item 8, Financial Statements and\nSupplementary Data - Note 1, “Accounting Policies - Cash and Cash Equivalents,” regarding capital adequacy requirements in\ncertain jurisdictions.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_company_type",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nInvesco Ltd.\n(Exact Name of Registrant as Specified in Its Charter)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_key_financials",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 6048.9m, net income: 683.9m, diluted earnings per share (EPS): 1.49",
      "golden_context": "Page 32:\n\n$ in millions, other than per common share amounts, operating margins and AUM Year ended December 31,\n%\nU.S. GAAP Financial Measures Summary 2022 2021 2020\nOperating revenues 6,048.9 6,894.5 6,145.6\nOperating income 1,317.7 1,788.2 920.4\nOperating margin 21.8 % 25.9 % 15.0 Net income attributable to Invesco Ltd. 683.9 1,393.0 524.8\nDiluted earnings per share (EPS) 1.49 2.99 1.13\nNon-GAAP Financial Measures Summary(1)\nNet revenues 4,645.0 5,261.1 4,501.0\nAdjusted operating income 1,614.8 2,182.6 1,664.5\nAdjusted operating margin 34.8 % 41.5 % 37.0 Adjusted net income attributable to Invesco Ltd. 773.2 1,439.6 892.9\nAdjusted diluted earnings per share (EPS ) 1.68 3.09 1.93\nAssets Under Management\nEnding AUM (billions) 1,409.2 1,610.9 1,349.9\nAverage AUM (billions) 1,452.5 1,499.9 1,194.9\n%\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,\nadjusted diluted EPS) are non-GAAP financial measures, based on methodologies other than U.S. GAAP. See “Schedule of Non-GAAP\nInformation” for a reconciliation of the most directly comparable U.S. GAAP measures to the non-GAAP measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_revenue",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Operating revenues 6048.9m, previous years 6894.9m",
      "golden_context": "Page 32:\n\n$ in millions, other than per common share amounts, operating margins and AUM Year ended December 31,\n%\nU.S. GAAP Financial Measures Summary 2022 2021 2020\nOperating revenues 6,048.9 6,894.5 6,145.6\nOperating income 1,317.7 1,788.2 920.4\nOperating margin 21.8 % 25.9 % 15.0 Net income attributable to Invesco Ltd. 683.9 1,393.0 524.8\nDiluted earnings per share (EPS) 1.49 2.99 1.13\nNon-GAAP Financial Measures Summary(1)\nNet revenues 4,645.0 5,261.1 4,501.0\nAdjusted operating income 1,614.8 2,182.6 1,664.5\nAdjusted operating margin 34.8 % 41.5 % 37.0 Adjusted net income attributable to Invesco Ltd. 773.2 1,439.6 892.9\nAdjusted diluted earnings per share (EPS ) 1.68 3.09 1.93\nAssets Under Management\nEnding AUM (billions) 1,409.2 1,610.9 1,349.9\nAverage AUM (billions) 1,452.5 1,499.9 1,194.9\n%\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,\nadjusted diluted EPS) are non-GAAP financial measures, based on methodologies other than U.S. GAAP. See “Schedule of Non-GAAP\nInformation” for a reconciliation of the most directly comparable U.S. GAAP measures to the non-GAAP measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_revenue_growth",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues 6048.9m, previous years 6894.9m",
      "golden_context": "Page 32:\n\n$ in millions, other than per common share amounts, operating margins and AUM Year ended December 31,\n%\nU.S. GAAP Financial Measures Summary 2022 2021 2020\nOperating revenues 6,048.9 6,894.5 6,145.6\nOperating income 1,317.7 1,788.2 920.4\nOperating margin 21.8 % 25.9 % 15.0 Net income attributable to Invesco Ltd. 683.9 1,393.0 524.8\nDiluted earnings per share (EPS) 1.49 2.99 1.13\nNon-GAAP Financial Measures Summary(1)\nNet revenues 4,645.0 5,261.1 4,501.0\nAdjusted operating income 1,614.8 2,182.6 1,664.5\nAdjusted operating margin 34.8 % 41.5 % 37.0 Adjusted net income attributable to Invesco Ltd. 773.2 1,439.6 892.9\nAdjusted diluted earnings per share (EPS ) 1.68 3.09 1.93\nAssets Under Management\nEnding AUM (billions) 1,409.2 1,610.9 1,349.9\nAverage AUM (billions) 1,452.5 1,499.9 1,194.9\n%\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,\nadjusted diluted EPS) are non-GAAP financial measures, based on methodologies other than U.S. GAAP. See “Schedule of Non-GAAP\nInformation” for a reconciliation of the most directly comparable U.S. GAAP measures to the non-GAAP measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000076_segments",
      "report_id": "ID_000076",
      "company_name": "Invesco",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, institutional\n\nRetail: closed-end mutual funds, exchange-traded funds (ETF), individual savings accounts (ISA), investment companies with variable capital (ICVC), investment trusts, open-end mutual funds, separately managed accounts (SMA), societe d'investissement a capital variable (SICAV), unit investment trusts (UIT), variable insurance funds\n\nInstitutional: collective trust funds, exchange-trade funds (ETF) institutional separate accounts, open-end mutual funds, private funds",
      "golden_context": "Page 8: \n\nDistribution Channels\nRetail AUM typically originate from clients investing into funds available to the public in the form of shares or units.\nInstitutional AUM originate from entities such as individual corporate clients, insurance companies, endowments, foundations,\ngovernment authorities, universities or charities. AUM disclosed as retail channel AUM include AUM distributed by the\ncompany's retail sales team. AUM disclosed as institutional channel AUM include AUM distributed by the company's\ninstitutional sales team.\nThe company operates as an integrated global investment manager, presenting itself as a single firm to clients around the\nworld. Dedicated sales forces deliver our investment strategies through a variety of vehicles that meet the needs of retail and\ninstitutional clients. Note that not all products sold in the retail distribution channel are in \"retail\" vehicles, and not all products\nsold in the institutional channel are in \"institutional\" vehicles, as described in the table below. This aggregation, however, is\nviewed as a proxy for presenting AUM in the retail and institutional markets in which we operate.\nThe following lists our primary investment vehicles by distribution channel:\nRetail Institutional\n● Closed-end Mutual Funds ● Collective Trust Funds\n● ETFs ● ETFs\n● Individual Savings Accounts ● Investment Companies with Variable Capital ● Investment Trusts ● Institutional Separate Accounts\n● Open-end Mutual Funds\n● Private Funds\n● Private Funds\n● Open-end Mutual Funds\n● Separately Managed Accounts\n● Société d'investissement à Capital Variable\n● Unit Investment Trusts (UITs)\n● Variable Insurance Funds",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_cash_flow",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Cash increased by 234.5m\n",
      "golden_context": "Page 79: 2. FAIR VALUE OF ASSETS AND LIABILITIES\nThe fair value of financial instruments are presented in the below summary table. The fair value of financial instruments held\nby CIP are presented in Note 19, \"Consolidated Investment Products.\"\nDecember 31, 2023 December 31, 2022\n(in millions) Fair Value Fair Value\nCash and cash equivalents $ 1,469.2 $ 1,234.7\nEquity investments 272.4 325.0\nForeign time deposits (1)\n— 25.7\nAssets held for policyholders 393.9 668.7\nPolicyholder payables (1) (393.9) (668.7)\nTotal return swap related to deferred compensation plans 4.9 (1.6)\n____________\n(1) These financial instruments are not measured at fair value on a recurring basis. Foreign time deposits are measured at cost plus accrued\ninterest, which approximates fair value, and are accordingly classified as Level 2 securities. Policyholder payables are indexed to the\nvalue of the assets held for policyholders and changes in fair value are recorded and offset to zero in other operating revenues.\nA three-level valuation hierarchy exists for disclosure of fair value measurements based upon the t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_company_type",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nInvesco Ltd.\n(Exact Name of Registrant as Specified in Its ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_key_financials",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Adjusted diluted earnings per share (EPS) 1.51, adjusted net income attributable to Invesco Ltd. 689.7m",
      "golden_context": "Page 34:\n\nin millions, other than per common share amounts, operating margins and AUM) Year ended December 31,\nU.S. GAAP Financial Measures Summary Operating revenues 2023 2022 2021\n$ 5,716.4 $ 6,048.9 $ 6,894.5\nOperating income/(loss) $ (434.8) $ 1,317.7 $ 1,788.2\nOperating margin (7.6) % 21.8 % 25.9 %\nNet income/(loss) attributable to Invesco Ltd. $ (333.7) $ 683.9 $ 1,393.0\nDiluted earnings per share (EPS) $ (0.73) $ 1.49 $ 2.99\nNon-GAAP Financial Measures Summary(1)\nNet revenues $ 4,310.7 $ 4,645.0 $ 5,261.1\nAdjusted operating income $ 1,213.5 $ 1,614.8 $ 2,182.6\nAdjusted operating margin 28.2 % 34.8 % 41.5 %\nAdjusted net income attributable to Invesco Ltd. $ 689.7 $ 773.2 $ 1,439.6\nAdjusted diluted earnings per share (EPS) $ 1.51 $ 1.68 $ 3.09\nAssets Under Management\nEnding AUM (billions) $ 1,585.3 $ 1,409.2 $ 1,610.9\nAverage AUM (billions) $ 1,500.6 $ 1,452.5 $ 1,499.9\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_revenue",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Operating revenues 5716.4m",
      "golden_context": "Page 34:\n\nin millions, other than per common share amounts, operating margins and AUM) Year ended December 31,\nU.S. GAAP Financial Measures Summary Operating revenues 2023 2022 2021\n$ 5,716.4 $ 6,048.9 $ 6,894.5\nOperating income/(loss) $ (434.8) $ 1,317.7 $ 1,788.2\nOperating margin (7.6) % 21.8 % 25.9 %\nNet income/(loss) attributable to Invesco Ltd. $ (333.7) $ 683.9 $ 1,393.0\nDiluted earnings per share (EPS) $ (0.73) $ 1.49 $ 2.99\nNon-GAAP Financial Measures Summary(1)\nNet revenues $ 4,310.7 $ 4,645.0 $ 5,261.1\nAdjusted operating income $ 1,213.5 $ 1,614.8 $ 2,182.6\nAdjusted operating margin 28.2 % 34.8 % 41.5 %\nAdjusted net income attributable to Invesco Ltd. $ 689.7 $ 773.2 $ 1,439.6\nAdjusted diluted earnings per share (EPS) $ 1.51 $ 1.68 $ 3.09\nAssets Under Management\nEnding AUM (billions) $ 1,585.3 $ 1,409.2 $ 1,610.9\nAverage AUM (billions) $ 1,500.6 $ 1,452.5 $ 1,499.9\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_revenue_growth",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues 5716.4m, 6048.9m prior year",
      "golden_context": "Page 34:\n\nin millions, other than per common share amounts, operating margins and AUM) Year ended December 31,\nU.S. GAAP Financial Measures Summary Operating revenues 2023 2022 2021\n$ 5,716.4 $ 6,048.9 $ 6,894.5\nOperating income/(loss) $ (434.8) $ 1,317.7 $ 1,788.2\nOperating margin (7.6) % 21.8 % 25.9 %\nNet income/(loss) attributable to Invesco Ltd. $ (333.7) $ 683.9 $ 1,393.0\nDiluted earnings per share (EPS) $ (0.73) $ 1.49 $ 2.99\nNon-GAAP Financial Measures Summary(1)\nNet revenues $ 4,310.7 $ 4,645.0 $ 5,261.1\nAdjusted operating income $ 1,213.5 $ 1,614.8 $ 2,182.6\nAdjusted operating margin 28.2 % 34.8 % 41.5 %\nAdjusted net income attributable to Invesco Ltd. $ 689.7 $ 773.2 $ 1,439.6\nAdjusted diluted earnings per share (EPS) $ 1.51 $ 1.68 $ 3.09\nAssets Under Management\nEnding AUM (billions) $ 1,585.3 $ 1,409.2 $ 1,610.9\nAverage AUM (billions) $ 1,500.6 $ 1,452.5 $ 1,499.9\n_________\n(1) Net revenues, Adjusted Operating Income (and by calculation, adjusted operating margin), and Adjusted Net Income (and by calculation,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000077_segments",
      "report_id": "ID_000077",
      "company_name": "Invesco",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail, institutional\n\nRetail: closed-end mutual funds, exchange-traded funds (ETF), individual savings accounts (ISA), investment companies with variable capital (ICVC), investment trusts, open-end mutual funds, separately managed accounts (SMA), societe d'investissement a capital variable (SICAV), unit investment trusts (UIT), variable insurance funds\n\nInstitutional: collective trust funds, exchange-trade funds (ETF) institutional separate accounts, open-end mutual funds, private funds",
      "golden_context": "Page 9: \n\nDistribution Channels\nRetail AUM typically originate from clients investing into funds available to the public in the form of shares or units.\nInstitutional AUM originate from entities such as individual corporate clients, insurance companies, endowments, foundations,\ngovernment authorities, universities or charities. AUM disclosed as retail channel AUM include AUM distributed by the\ncompany's retail sales team. AUM disclosed as institutional channel AUM include AUM distributed by the company's\ninstitutional sales team.\nThe company operates as an integrated global investment manager, presenting itself as a single firm to clients around the\nworld. Dedicated sales forces deliver our investment strategies through a variety of vehicles that meet the needs of retail and\ninstitutional clients. Note that not all products sold in the retail distribution channel are in \"retail\" vehicles, and not all products\nsold in the institutional channel are in \"institutional\" vehicles, as described in the table below. This aggregation, however, is\nviewed as a proxy for presenting AUM in the retail and institutional markets in which we operate.\nThe following lists our primary investment vehicles by distribution channel:\nRetail Institutional\n● Closed-end Mutual Funds ● Collective Trust Funds\n● Exchange-traded funds (ETFs) ● ETFs\n● Individual Savings Accounts ● Institutional Separate Accounts\n● Investment Companies with Variable Capital ● Open-end Mutual Funds\n● Investment Trusts ● Private Funds\n● Open-end Mutual Funds\n● Separately Managed Accounts (SMA)\n● Société d'investissement à Capital Variable\n● Unit Investment Trusts (UITs)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_cash_flow",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 817.9m, investing 242m, financing -1459.8m",
      "golden_context": "Page 80:\n\nCash Flow\nThe following table summarizes the changes in the consolidated statement of cash flows included in\nPart II, Item 8. Financial Statements, of this Form 10-K, expressed in millions of dollars, for each of the\nyears ended on December 26, 2021, December 27, 2020 and December 29, 2019.\n2021 2020 2019\nNet cash provided by (used in):\nOperating Activities $ 817.9 $ 976.3 $ 653.1\nInvesting Activities 242.0 (4,500.2) (60.9)\nFinancing Activities (1,459.8) 405.9 2,810.6\nIn 2021, 2020 and 2019, Hasbro generated $817.9 million, $976.3 million and $653.1 million of cash from\nits operating activities, respectively. Operating cash flows in 2021, 2020 and 2019 included\n$697.3 million, $438.9 million and $33.9 million, respectively, of cash used for television program and\nfilm production. The decrease in net cash provided by operating activities during 2021, was primarily\nattributable to the increased spend for television program and film production, as well as an increase in\nworking capital cash outflows associated with increased accounts receivable and inventory balances as\nnoted above. These outflows were partially offset by higher earnings in 2021 and favorable changes in\naccounts payable terms in certain markets. The increase in operating cash flows in 2020 was primarily\nattributable to higher collections of accounts receivable balances and higher earnings excluding\nnon-cash charges. These increases were partially offset by higher film and television production spend\nas a result of the inclusion of eOne operations during 2020.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_company_type",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 13:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 26, 2021\nCommission file number 1-6682\nHasbro, Inc.\n(Exact Name of Registrant As Specified in its Charter)\nRhode Island 05-0155090\n(State of Incorporation) (I.R.S. Employer Iden",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_key_financials",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue growth to 6.42bn, 1.31bn EBITDA",
      "golden_context": "Page 3:\n\nThe Brand Blueprint is driving profitable growth across\nour diversified portfolio, and Hasbro’s unique set of\nstrategic assets provide the foundation for maximizing\nthe value of both our existing franchises and new IP.\nWe finished the year strong, delivering full-year\nresults above our guidance, including 17% revenue\ngrowth to $6.42 billion; a 40-basis point improvement\nin adjusted operating profit margin* to 15.5%;\n41% growth in adjusted earnings* to $5.23 per share;\n23% growth in adjusted EBITDA* to $1.31 billion; and\n$817.9 million in operating cash flow.\nThroughout the year and especially in the fourth\nquarter, we successfully navigated supply chain\nchallenges across the business. We grew revenue\nacross segments, brand portfolios and geographies.\n\nNet revenues\nincreased 17% to\n$6.42 billion\nWizards of the\nCoast and\nDigital Gaming\nsegment revenues\nup 42%\nEntertainment\nsegment revenues\nup 27%\nConsumer\nProducts\nsegment revenues\nup 9%\nOperating profit of $763.3 million,\nor 11.9% of revenue, up from 9.2% of\nrevenue in 2020\nAdjusted operating profit* up 20%\nto $995.2 million, or 15.5% of revenue,\nan expansion of 40 basis points year-\nover-year\nEBITDA up 32% to $1.04 billion\nAdjusted EBITDA* up 23% to $1.31 billion\nYear-end cash of $1.02 billion;\nGenerated $817.9 million in operating cash flow for the full-year\n2021 and paid down $1.08 billion in long-term debt\nPaid $374.5 million in dividends to shareholders during the year;\nBoard of Directors increased quarterly dividend 3%, payable\nin May 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_revenue",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenue 6420.4m",
      "golden_context": "Page 62:\n\nSummary of Financial Performance\nA summary of the Company’s results of operations for 2021, 2020 and 2019 is illustrated below.\nDiluted earnings per share 3.10 1.62 4.05\n2021 2020 2019\nNet revenues $ 6,420.4 $ 5,465.4 $ 4,720.2\nOperating profit 763.3 501.8 652.1\nEarnings before income taxes 581.9 322.1 594.3\nNet earnings 435.3 225.4 520.5\nNet earnings attributable to noncontrolling interests 6.6 2.9 —\nNet earnings attributable to Hasbro, Inc. 428.7 222.5 520.5\n50\nResults of Operations — Consolidated\nThe fiscal years ended December 26, 2021, December 27, 2020 and December 29, 2019 were each\nfifty-two week periods. Beginning with the fiscal year ended December 27, 2020, the Company’s results\nreflect the inclusion of the eOne business following the completion of the eOne acquisition on\nDecember 30, 2019.\nNet earnings attributable to Hasbro, Inc. increased to $428.7 million for the fiscal year ended\nDecember 26, 2021 compared to $222.5 million for the fiscal year ended December 27, 2020, and were\n$520.5 million for the fiscal year ended December 29, 2019.\nDiluted earnings per share attributable to Hasbro, Inc. were $3.10 in 2021, $1.62 in 2020 and $4.05 in\n2019.\nNet earnings and diluted earnings per share attributable to Hasbro, Inc. for each fiscal year in the three\nyears ended December 26, 2021 include certain charges and benefits as described below.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_revenue_growth",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue 6420.4m, prior year 5465.4m",
      "golden_context": "Page 62:\n\nSummary of Financial Performance\nA summary of the Company’s results of operations for 2021, 2020 and 2019 is illustrated below.\nDiluted earnings per share 3.10 1.62 4.05\n2021 2020 2019\nNet revenues $ 6,420.4 $ 5,465.4 $ 4,720.2\nOperating profit 763.3 501.8 652.1\nEarnings before income taxes 581.9 322.1 594.3\nNet earnings 435.3 225.4 520.5\nNet earnings attributable to noncontrolling interests 6.6 2.9 —\nNet earnings attributable to Hasbro, Inc. 428.7 222.5 520.5\n50\nResults of Operations — Consolidated\nThe fiscal years ended December 26, 2021, December 27, 2020 and December 29, 2019 were each\nfifty-two week periods. Beginning with the fiscal year ended December 27, 2020, the Company’s results\nreflect the inclusion of the eOne business following the completion of the eOne acquisition on\nDecember 30, 2019.\nNet earnings attributable to Hasbro, Inc. increased to $428.7 million for the fiscal year ended\nDecember 26, 2021 compared to $222.5 million for the fiscal year ended December 27, 2020, and were\n$520.5 million for the fiscal year ended December 29, 2019.\nDiluted earnings per share attributable to Hasbro, Inc. were $3.10 in 2021, $1.62 in 2020 and $4.05 in\n2019.\nNet earnings and diluted earnings per share attributable to Hasbro, Inc. for each fiscal year in the three\nyears ended December 26, 2021 include certain charges and benefits as described below.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000078_segments",
      "report_id": "ID_000078",
      "company_name": "Hasbro",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Toys and Games, Licensed Consumer Products, Digital Gaming, Entertainment, Television, Film, Family Brands Animation, Digital Content, e-sports, Location-Based Entertainment, Publishing, Music",
      "golden_context": "Page 22:\n\nBelow is summary of the key areas of focus for activating our brands across the Hasbro Brand Blueprint.\n• Toys and Games. We market and sell toys and games based on our owned and controlled\nbrands globally at retail stores, through e-commerce platforms and through our fan-based\ndirect-to-consumer platform, Hasbro PULSE. Additionally, through license agreements with\nthird parties, we develop and sell products based on popular third-party brands through these\nchannels. Our toys and games include action figures, arts and crafts and creative play\nproducts, fashion and other dolls, play sets, preschool toys, plush products, sports action\nblasters and accessories, vehicles and toy-related specialty products, games and many other\nconsumer products which represent an array of internationally recognizable brands that\ncapture the imagination of our consumers worldwide.\nWithin toys and games, as a leading producer of new and innovative gaming brands and play\nexperiences our gaming business continues to transform game play. To successfully execute\nour gaming strategy, we consider brands which capitalize on existing trends while evolving our\napproach to gaming using consumer insights and offering gaming experiences relevant to\nconsumer demand for face-to-face, trading card and digital game experiences played as board,\noff-the-board, digital, card, electronic, trading card and role-playing games.\nOur subsidiary, Wizards of the Coast (“Wizards”), is a critical part of our gaming business,\ndriving innovation and growth through its popular role-playing and fantasy card-collecting\ngames such as MAGIC: THE GATHERING and DUNGEONS & DRAGONS. Our iconic game\nbrands include long-time favorites such as MONOPOLY, JENGA, CONNECT 4, THE GAME OF\nLIFE, SCRABBLE, CLUE and TRIVIAL PURSUIT. Our gaming business also includes new social\ngaming brands as well as many other well-known game brands.\n• Licensed Consumer Products. We promote our brands through the out-licensing of our\nintellectual properties to third parties for promotional and merchandising uses in a wide range\nof consumer products. These include apparel, publishing, home goods and electronics, or in\ncertain situations, toy products where we consider the out-licensing of brands to be more\neffective and profitable than developing and marketing the products ourselves. We also\nout-license our brands for uses in theme park attractions, other forms of location-based\nentertainment and within formats such as film and TV programming. In cases where we license\nour intellectual property to a third party, we enter into contracts with licensees that pay us\neither a sales-based or usage-based royalty, or a combination of both, for use of the brands,\nand, in some cases, the license arrangements are subject to minimum guaranteed amounts or\nfixed fees, over the term of the license.\n• Digital Gaming. We are investing to grow our digital gaming business to further unlock the\nvalue of our brands through play and storytelling. This includes development of digital games\ninternally and through third parties. For example, we have developed and launched digital\nversions of the MAGIC: THE GATHERING card game, including Magic: The Gathering Arena,\nwhich includes the game’s mobile application launch in 2021. Additionally, through Wizards we\nlaunched Dungeons & Dragons: Dark Alliance, a team-based action role-playing game, set in\nthe DUNGEONS & DRAGONS world, released in the first half of 2021 for PC and gaming\nconsoles. We also out-license certain of our brands to other third-party digital game developers\nwho transform Hasbro brand-based characters and other intellectual properties, into digital\ngaming experiences.\n• Entertainment. A key driver of the Hasbro Brand Blueprint is to reinforce storylines associated\nwith our brands through several entertainment mediums, including television, film, digital\ncontent and other programming. Our entertainment business, through eOne, is a global\nindependent studio, that specializes in the development, acquisition, production, distribution\nand sales of entertainment content. With our cross-platform capabilities our entertainment\nbusiness leverages film and television production and sales, digital content and children’s\n\nPage 23:\n\nprogramming to create compelling entertainment and drive creativity across brands with\nmerchandising and licensing tie-ins.\nO Television. In television, we are a major independent producer of television content\nwith a focus on the development, production and acquisition of high-quality television\nprogramming for sale to broadcasters and digital platforms globally. Through our\ntelevision studios, we develop and produce original programming for broadcast in our\ncore television production territories of Canada and the U.S., which is then distributed\ninto global markets to various broadcasters and cable networks by our international\nsales network. We also distribute programming globally on various digital platforms,\nincluding Netflix and Apple TV. Our television programming is typically financed on a\nproduction-by-production basis by way of production financing facilities. Our original\ntelevision programming is sold to broadcasters on a series-by-series or individual\nshow basis for broadcast on free television, pay television, Subscription Video-On-\nDemand (“SVOD”) and other digital platforms. Our programming spans a variety of\ngenres, including scripted drama, non-scripted reality and documentaries, and in\nmultiple formats, including series, television films, mini-series and specials.\nO Film. In film, our focus is on the development, production and co-production of films,\nan increasing number of which are based on Hasbro brands, as well as the acquisition\nand development of film production rights and the exploitation of these rights on a\nmulti-territory basis across all media channels, including cinema, physical home\nentertainment and broadcast and digital.\nIn October 2017, we entered into an agreement with Paramount Pictures\n(“Paramount”) to produce and distribute live action and animated films, as well as\ntelevision programming based on Hasbro brands over a five-year period. Hasbro’s\nglobal eOne studio plays an active role alongside Paramount in content development\nand production under this relationship. Hasbro also plays a significant role in financing\nfilms created through this cooperative agreement. Under this relationship we plan to\nrelease TRANSFORMERS: RISE OF THE BEASTS, a feature length film expected in\nsummer of 2023. In addition, under a separate agreement entered with Paramount,\nwhere Hasbro’s eOne studio will serve as the production entity, we plan to release a\nDUNGEONS & DRAGONS feature length film, expected in early 2023.\nO Family Brands Animation. Our family brands team develops, produces and distributes\nanimation content for children’s properties on a worldwide basis. The principal brands\ninclude MY LITTLE PONY, PEPPA PIG and PJ MASKS, whose content entertains\nchildren worldwide and generates revenues around the Hasbro Brand Blueprint\nthrough licensing and merchandising programs across multiple retail categories.\nThese brands generate revenues from Advertising Video-On-Demand (“AVOD”)\nthrough platforms such as YouTube and SVOD revenues from the sale of content to\nvideo streaming platforms. Our portfolio of preschool brand driven content also\nincludes PJ MASKS, CUPCAKE & DINO: GENERAL SERVICES, and RICKY ZOOM, as\nwell as BABY ALIVE and PLAY-DOH.\n• Other Brand Blueprint Areas. Other aspects of the Hasbro Brand Blueprint that help drive our\nstorytelling experiences include, digital content, e-sports, location-based entertainment, and\npublishing.\nO Digital Content. We understand the importance of digital content to drive fan\nengagement, including in gaming and across other media, and of integrating such\ncontent with our products. Digital media encompasses digital gaming applications and\nthe creation of digital environments for analog products through the use of\ncomplementary digital applications, social media and websites which extend\nstorylines and enhance play.\n\nPage 24:\n\n e-sports. We continue to seek innovative ways to bring our traditional games to the\ndigital world, where consumers can experience our brands and compete with each\nother in a multiplayer online adventure experience. A prime example of this is Magic:\nThe Gathering Arena, our digital gaming version of the MAGIC:THE GATHERING\ntrading card game.\nO Location-Based Entertainment. Location-based entertainment (“LBE”) allows\nconsumers to experience and share our brands. LBE includes licensing our brands to\ntheme parks, water parks, hotels and resorts, family entertainment centers, retail,\ndining and entertainment, shows, exhibits and exhibitions. These experiences bring\nour brands to life and further immerse our consumers in our storytelling.\nO Publishing. Licensing our brands to global publishers is another way to bring our\nbrands to consumers in a meaningful way through various publishing formats, from\npuzzle and trivia books to novels and comics.\nO Music. Music remains a key medium to increase brand affinity and awareness. We\ncreate branded music, working with distributors to exploit that music in physical,\ndigital and streaming formats. We partner our brands with music artists to increase\nexposure for our products and we work closely with music publishers to collect music\npublishing income from all manner of exploitation.\n• Brand Blueprint in Action. A few examples of our Brand Blueprint in action during 2021 and\nbeyond are described below.\nO In 2021, our gaming portfolio grew 19% to $2.1 billion. Our gaming portfolio is one of\nthe biggest, most profitable and fastest growing combinations of gaming brands\nacross face to face, tabletop and digital platforms in the world. Led by MAGIC: THE\nGATHERING, which had its best year ever, we continue to invest in this growing\nbusiness. Tabletop to digital, MAGIC: THE GATHERING and DUNGEONS & DRAGONS\nhave generated significant growth with high engagement. We have plans to leverage\nthe power of Wizards’ brands across the Brand Blueprint for both current fans and\npotential new fans as we have a new MAGIC: THE GATHERING Netflix series coming\nlater in 2022, and, in early 2023, the planned theatrical release of the DUNGEONS &\nDRAGONS feature film as described above. We believe these efforts will harness the\nfull potential of the Brand Blueprint with new products introduced in toy & game and\nlicensed consumer products.\nO We experienced a successful relaunch of one of our iconic brands, MY LITTLE PONY.\nLed by the expertise of our eOne entertainment team, we released My Little Pony: A\nNew Generation, an animated feature film that was #1 in the Netflix Kids Top 10 in\nmore than 80 countries on opening weekend. This relaunch fueled greater than 100%\ngrowth in toy and game point of sale in the fourth quarter 2021. We have a significant\nmulti-year content roadmap led by eOne and a deep and innovative merchandise\nprogram, which we believe will position this brand to reclaim its place as a leading\nglobal lifestyle brand.\nO Two other valuable brands that benefited from the Brand Blueprint were PEPPA PIG\nand PJ MASKS. In August 2021, we launched the first Hasbro toys and games for\nthese leading preschool brands. PEPPA PIG was one of our top brand growers for\n2021, and as we shifted licensed revenue to in-sourced revenue in toys and games,\nwe were still able to grow licensed consumer products revenue, highlighting the\npowerful reach of PEPPA PIG across categories\n\nPage 26:\n\nrand Portfolios\nWe organize and market owned, controlled and licensed intellectual properties within our brand\narchitecture under the following five brand portfolios:\n• Franchise Brands\n• Franchise Brands\n• Partner Brands\n• Partner Brands\n• Hasbro Gaming\n• Hasbro Gaming\n• Emerging Brands\n• Emerging Brands\n• TV/Film/Entertainment\n• TV/Film/Entertainment\n• MAGIC: THE GATHERING\n• NERF\n• PLAY-DOH\n• TRANSFORMERS\n• MONOPOLY\n• BABY ALIVE\n• MY LITTLE PONY\nand THE AVENGERS(1)\n• LUCASFILMS’ STAR WARS(1)\n• DISNEY FROZEN(1)(2)\n• BEYBLADE\n• DISNEY PRINCESS(1)(2)\n• SESAME STREET\n• DISNEY‘S DESCENDANTS(1)\n• DUEL MASTERS\nInnistrad: Midnight Hunt.\nMY LITTLE PONY product line.\nWars, each for multi-year terms.\ntelevision series of our partners.\nBrand Portfolio Key Brands Description and Significant Developments\nFranchise\nBrands\n• MAGIC: THE GATHERING\n• NERF\n• PLAY-DOH\n• TRANSFORMERS\n• MONOPOLY\n• BABY ALIVE\n• MY LITTLE PONY\nIncludes our flagship owned or\ncontrolled brands, which we believe\ncan deliver significant revenues, profits\nand growth across the brand blueprint\nover the long term.\n• In 2021, MAGIC: THE\nGATHERING benefited from\nnumerous successful card set\nreleases including Strixhaven,\nModern Horizons 2, Adventures\nin Forgotten Realms and\nInnistrad: Midnight Hunt.\n• In September 2021, we released\nthe feature length film, MY\nLITTLE PONY: A NEW\nGENERATION, as well as a new\nMY LITTLE PONY product line.\nPartner Brands • MARVEL, including SPIDER-MAN\nand THE AVENGERS(1)\n• LUCASFILMS’ STAR WARS(1)\n• DISNEY FROZEN(1)(2)\n• BEYBLADE\n• DISNEY PRINCESS(1)(2)\n• SESAME STREET\n• DISNEY‘S DESCENDANTS(1)\n(1)Owned by The Walt Disney Company\n(“Disney”).\n(2) License expires at the end of 2022.\nIncludes those brands we license from\nother parties for which we develop toy\nand game products. Partner brand\nrevenues fluctuate based primarily on\nthe entertainment releases around\nthese brands in any given year.\n• We hold global toy and game\nlicensed merchandise rights for\nmajor Disney entertainment\nproperties Marvel and Star\nWars, each for multi-year terms.\n• Our products were also\nsupported by numerous\nstreaming and broadcast\ntelevision series of our partners.\nHasbro Gaming • DUNGEONS & DRAGONS\n• DUEL MASTERS\nIncludes the Company’s face-to-face,\ntrading card and digital game\nexperiences played as board,\n\nPage 26:\n\nBrand Portfolio Key Brands Description and Significant Developments\n• JENGA\n• OPERATION\n• CONNECT 4\n• CLUE\n• THE GAME OF LIFE\n• TWISTER\n• TRIVIAL PURSUIT\n• And many others\noff-the-board, digital, card, electronic,\ntrading card and role-playing games.\n• We launched Dungeons &\nDragons: Dark Alliance, a team-\nbased action role-playing game,\nset in the DUNGEONS &\nDRAGONS world, in the first half\nof 2021 for PC and gaming\nconsoles.\nEmerging Brands • PEPPA PIG\n• FURREAL FRIENDS\n• PJ MASKS\n• POWER RANGERS\n• GI JOE\n• SUPER SOAKER\n• POTATO HEAD\n• PLAYSKOOL\n• LITTLEST PET SHOP\nIncludes those brands we own or\ncontrol which have not yet grown to\nthe significance of a franchise brand,\nmany of which we believe could be\npotential franchise brands. We also\nlaunch new brands in this portfolio.\nDuring 2021, Hasbro launched its toy &\ngame products for the PEPPA PIG and\nPJ MASKS brands.\nBeginning in 2022, we have advanced\nPEPPA PIG to Franchise Brands.\nTV, Film &\nEntertainment\neOne programming series include:\nTelevision Series\n• YELLOWJACKETS\n• CRUEL SUMMER\n• DESIGNATED SURVIVOR\n• THE ROOKIE\nFilm\n• CLIFFORD THE BIG RED DOG\n• COME FROM AWAY\neOne also has numerous TV and Film\ndistribution rights including:\n• FINCH\n• FEAR THE WALKING DEAD\nIncludes all film, TV and other\nentertainment related revenues that\nare not Hasbro-branded. All Hasbro-\nbranded content is included in the\nportfolios noted above.\n• In 2020, due to the pandemic,\nthe entertainment industry saw\nshutdowns in live-action\nproductions and delays or\npostponements in releases of\nproductions.\n• By early 2021, our production\nstudios were operating in line\nwith pre-pandemic levels,\ntogether with appropriate health\nand safety protocols.\n• JENGA\n• OPERATION\n• CONNECT 4\n• CLUE\n• THE GAME OF LIFE\n• TWISTER\n• TRIVIAL PURSUIT\n• And many others\n• PEPPA PIG\n• FURREAL FRIENDS\n• PJ MASKS\n• POWER RANGERS\n• GI JOE\n• SUPER SOAKER\n• POTATO HEAD\n• PLAYSKOOL\n• LITTLEST PET SHOP\n• YELLOWJACKETS\n• CRUEL SUMMER\n• DESIGNATED SURVIVOR\n• THE ROOKIE\n• CLIFFORD THE BIG RED DOG\n• COME FROM AWAY\n• FINCH\n• FEAR THE WALKING DEAD\nReportable Segments\nSegment Realignment\nEffective for the first quarter 2021, we realigned our reportable segment structure to correspond with\nthe evolution of our company, which includes the integration of our global independent studio, eOne.\nThe realigned segments represent changes to our reporting structure and reflect management’s\nallocation of decision-making responsibilities for evaluating the Company’s performance.\nOur new reportable segments are:\nO Consumer Products\n\nPage 27:\n\nWizards of the Coast and Digital Gaming\nO Entertainment\nO Corporate and Other\nDescription of Segment\nConsumer\nProducts\n• Engages in the sourcing, marketing and sales of toy and game products\naround the world. Our Consumer Products business also promotes our\nbrands through the out-licensing of our trademarks, characters and other\nbrand and intellectual property rights to third parties, through the sale of\nbranded consumer products such as toys and apparel. Additionally, through\nlicense agreements with third parties, we develop and sell products based on\npopular third-party brands.\n• Our toy and game products are supported by cross-functional teams\nincluding members of our global development and marketing groups. Our\nglobal development teams develop, design and engineer new products\nalongside the redesign of existing products, driven by our understanding of\nconsumers and using marketplace insights while leveraging opportunistic toy\nand game lines and licenses. Our global marketing function establishes a\ncohesive brand direction and assists our selling entities in establishing local\nmarketing programs. This strategy leverages efforts to increase consumer\nawareness of our brands through the Company’s entertainment experiences,\nincluding film and television programming and digital gaming.\n• As of December 26, 2021, we had offices supporting our Consumer Products\nbusiness in more than 35 countries contributing to sales in more than 120\ncountries. Additionally, we seek to grow internationally through further\nexpansion in Eastern Europe, Asia, Africa and Latin and South America.\nWizards of\nthe Coast and\nDigital\nGaming\n• Engages in the promotion of our brands through the development of trading\ncard, role-playing and digital game experiences based on Hasbro and\nWizards of the Coast properties.\n• Wizards of the Coast offerings include popular games such as the collectible\ncard game MAGIC: THE GATHERING and the fantasy tabletop role-playing\ngame DUNGEONS & DRAGONS, as well as other digital games developed\nfor mobile devices, personal computers and video gaming consoles including\nMagic: The Gathering Arena. Additionally, we out-license certain of our\nbrands to other third-party digital game developers who transform Hasbro\nbrand-based characters and other intellectual properties, into digital gaming\nexperiences.\nEntertainment • Engaged in the development, acquisition, production, distribution and sale of\nworld-class entertainment content including film, scripted and unscripted\ntelevision, children’s programming, digital content and live entertainment.\n• Film and TV operations produce film and television content which is sold\nworldwide to distributors, broadcasters, television networks and streaming\nplatforms. While maintaining ownership of the content rights, we sell content\nfor specific time periods to generate broadcast license fees from television\ncontent and to collect minimum guarantees and overage participations from\nfilms.\n\nSegment Description of Segment\n• Acquires third-party film and television content.\nO In television, the Entertainment segment engages in the sale of\nacquired third-party content internationally.\nO For acquired films, the Entertainment segment obtains territorial rights\nfrom independent producers to distribute in those territories and\nacquires global rights which are sold internationally.\n• Feature length film and television programming based on our owned and\ncontrolled brands provide both immersive storytelling and the ability for our\nconsumers to enjoy these properties in different formats, which also drives\nproduct sales, results in increased licensing revenues, and expands overall\nbrand awareness.\nCorporate\nand Other\n• Provides management and administrative services to the Company’s\nprincipal reporting segments described above. The segment consists of\nunallocated corporate expenses and administrative costs and activities not\nconsidered when evaluating segment performance as well as certain assets\nbenefiting more than one segment. In addition, intersegment transactions are\neliminated within the Corporate and Other segment.\n• Additional Segment Information.\nO To further extend our range of products in the various segments of our business, we sell a\nportion of our toy and game products to retailers on a direct import basis from the Far\nEast. These sales are reflected in the revenue of the related segment, to which the sale\nrelates.\nO Certain of our products are licensed to other companies for sale in selected countries\nwhere we do not otherwise have a direct business presence.\nO For more financial and geographic information regarding our segments, please see note\n21 to our consolidated financial statements, included in Part II, Item 8. Financial\nStatements, of this Form 10-K.\nWorking Capital Requirements; Seasonality\nOur working capital needs are financed through available cash and cash generated from operations,\nprimarily through the sale of toys and games and secondarily through our consumer products licensing\nand entertainment operations, and, when necessary, by issuing commercial paper or borrowing under\nour revolving credit agreement. In the event the Company is not able to issue commercial paper, we\nintend to utilize our available lines of credit.\nIn addition, the Company’s Entertainment operating segment uses production financing to fund certain\nof its television and film productions which are typically arranged on an individual production basis by\nspecial purpose production subsidiaries.\nOur customer order patterns may vary from year to year largely due to fluctuations in the degree of\nconsumer acceptance of product lines, supply and product availability, marketing strategies and\ninventory policies of retailers, TV and film content releases, including the dates of theatrical releases of\nmajor motion pictures for which we offer products, and changes in overall economic conditions. As a\nresult, a disproportionate volume of our net revenues from our consumer products business has\nhistorically been earned during the third and fourth quarters leading up to the retail industry’s holiday\nselling season, including Christmas. Moreover, quick response, or just-in-time, inventory management",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000079_cash_flow",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "372.9m operating activities, -313 investing activities, -553.3 financing activities",
      "golden_context": "Page 82:\n\net cash provided by (used in):\nOperating Activities $ 372.9 $ 817.9 $ 976.3\nInvesting Activities (313.0) 242.0 (4,500.2)\nCash Flow\nThe following table summarizes the changes in the consolidated statement of cash flows included in\nPart II, Item 8. Financial Statements, of this Form 10-K, expressed in millions of dollars, for each of the\nyears ended December 25, 2022, December 26, 2021 and December 27, 2020.\nFinancing Activities (553.3) (1,459.8) 405.9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000079_company_type",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 13:\n\nHasbro, Inc.\n(Exact Name of Registrant As Specified in its Charte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000079_key_financials",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "5.86bn revenues, 407.7m operating profit",
      "golden_context": "Page 8:\n\nYear in Review\nFull-year 2022\nRevenues\n$5.86B\ndown 9% year-over-year,\na decline of 6% on a constant\ncurrency basis\nOperating Profit\n$407.7M\n7.0% operating profit\nmargin\nAdjusted Operating\nProfit\n$922.5M\n15.8% adjusted operating\nprofit margin – a 30 basis\npoint expansion\nThe Adjusted figures are non-GAAP financial measures. A reconciliation of non-GAAP financial measures can be found in Hasbro’s Q4 &\nFY 2022 press release.\nWizards of the Coast and Digital Gaming segment\nrevenues increased 3% to $1.3 billion. Led by MAGIC:\nTHE GATHERING, tabletop gaming revenue increased\n12%, more than offsetting the expected decline in digital\nrevenue due to fewer new digital gaming releases\nin 2022 versus 2021. Digital gaming is a growth\ninvestment area for Hasbro, led by the team at Wizards\nof the Coast and through licensed partnerships.\nConsumer Products segment revenue declined 10%,\nincluding a negative $117.5 million impact of foreign\nexchange, $92.3 million of which was in Europe. For\n2023, we have a focused plan to grow share in our\nkey categories and further improve our margins.\nWe are capitalizing on a fantastic entertainment\nslate, including Dungeons & Dragons: Honor Among\nThieves and Transformers: Rise of the Beasts,\nand exciting new product launches, while facing a\nd\nchallenging consumer discretionary environment and\nrevenue headwinds from exited licenses, brands,\nand m s as well as foreig\nand markets as well as foreign exchange.\nEntertainment segment revenues declined 17%,\nor 12% excluding $65 million of music revenue\nassociated with the business sold in 2021. This result\nreflected the timing of revenue deliveries, with certain\nproject deliveries shifting into 2023, as well as fewer\nfilm deliveries versus the prior year. The TV business\ngrew, building on several successful scripted series\nincluding The Rookie, Yellowjackets and Cruel\nSummer with several new shows like The Rookie:\nFeds and The Recruit.",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000079_revenue",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "5856.7m",
      "golden_context": "Page 61:\n\n2022 highlights\n• Net revenues of $5,856.7 million decreased 9% from $6,420.4 million in 2021. The decline in\nnet revenues includes an unfavorable foreign currency translation of $166.3 million.\nO Net revenues in the Consumer Products segment decreased 10% to $3,572.5 million;\nWizards of the Coast and Digital Gaming segment increased 3% to $1,325.1 million;\nand Entertainment segment net revenues decreased 17% to $959.1 million.\nO TV/Film/Entertainment portfolio net revenues decreased 17%; Hasbro Gaming net\nrevenues decreased 13%; Emerging Brands net revenues decreased 12%; Partner\nBrands net revenues decreased 9%; and Franchise Brands net revenues decreased\n4%.\nO Hasbro’s total gaming portfolio, including the Hasbro Gaming portfolio as reported\nabove, and all other gaming revenue, most notably MAGIC: THE GATHERING and\nMONOPOLY, totaled $2.0 billion, a decrease of 5%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000079_revenue_growth",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "5856.7m, 6420.4m prior year",
      "golden_context": "Page 61:\n\n2022 highlights\n• Net revenues of $5,856.7 million decreased 9% from $6,420.4 million in 2021. The decline in\nnet revenues includes an unfavorable foreign currency translation of $166.3 million.\nO Net revenues in the Consumer Products segment decreased 10% to $3,572.5 million;\nWizards of the Coast and Digital Gaming segment increased 3% to $1,325.1 million;\nand Entertainment segment net revenues decreased 17% to $959.1 million.\nO TV/Film/Entertainment portfolio net revenues decreased 17%; Hasbro Gaming net\nrevenues decreased 13%; Emerging Brands net revenues decreased 12%; Partner\nBrands net revenues decreased 9%; and Franchise Brands net revenues decreased\n4%.\nO Hasbro’s total gaming portfolio, including the Hasbro Gaming portfolio as reported\nabove, and all other gaming revenue, most notably MAGIC: THE GATHERING and\nMONOPOLY, totaled $2.0 billion, a decrease of 5%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000079_segments",
      "report_id": "ID_000079",
      "company_name": "Hasbro",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Consumer products, wizards of the coast and digital gaming, entertainment, corporate and other",
      "golden_context": "Page 26-30:\n\nBrand Portfolios\nIn 2022, we organized and marketed owned, controlled and licensed intellectual properties within our\nbrand architecture under the following five brand portfolios:\n• Franchise Brands\n• Franchise Brands\n• Partner Brands\n• Partner Brands\n• Hasbro Gaming\n• Hasbro Gaming\n• Emerging Brands\n• Emerging Brands\n• TV/Film/Entertainment\n• TV/Film/Entertainment\n• PEPPA PIG\n• TRANSFORMERS\n• MONOPOLY\n• MY LITTLE PONY\n• BABY ALIVE\nGate and The Brother’s War.\n2021.\nproduct line.\nstrong performer in 2022.\n• LUCASFILMS’ STAR WARS(1)\n• BEYBLADE\n• FORTNITE\n• GHOST BUSTERS\nBrand Portfolio Key Brands Description and Significant Developments\nFranchise\nBrands\n• MAGIC: THE GATHERING\n• NERF\n• PLAY-DOH\n• PEPPA PIG\n• TRANSFORMERS\n• MONOPOLY\n• MY LITTLE PONY\n• BABY ALIVE\nIncludes our flagship owned or\ncontrolled brands, which we believe\ncan deliver significant revenues, profits\nand growth over the long term.\n• In 2022, MAGIC: THE\nGATHERING benefited from a\nnumber of successful card set\nreleases including Kamigawa:\nNeon Dynasty, Double Masters\n2022, Dominaria United, Streets\nof New Capenna, Commander\nLegends: Battle for Baldur’s\nGate and The Brother’s War.\n• The PEPPA PIG brand growth\nwas supported by a full year of\nrevenue from Hasbro’s own\nPEPPA PIG product line,\nlaunched in the second half of\n2021.\n• In November 2022, partnering\nwith Nickelodeon and\nParamount, we released the\ncomputer-animated television\nseries Transformers: EarthSpark\non Paramount+, as well as a\nnew related TRANSFORMERS\nproduct line.\n• PLAY-DOH holiday feature item\nPlay-Doh Ice Cream Truck was a\nstrong performer in 2022.\nPartner Brands • MARVEL, including SPIDER-MAN\nand THE AVENGERS(1)\n• LUCASFILMS’ STAR WARS(1)\n• BEYBLADE\n• FORTNITE\n• GHOST BUSTERS\nIncludes those brands we license from\nother parties for which we develop toy\nand game products. Partner brand\nrevenues fluctuate based primarily on\n14\nBrand Portfolio Key Brands Description and Significant Developments\n• INDIANA JONES(1)\n(1)Owned by The Walt Disney Company\n(“Disney”).\nthe entertainment releases around\nthese brands in any given year.\n• We hold global toy and game\nlicensed merchandise rights for\nmajor Disney entertainment\nproperties Marvel and Star\nWars, each for multi-year terms.\n• Our products were also\nsupported by numerous\nstreaming and broadcast\ntelevision series of our partners.\nHasbro Gaming • DUNGEONS & DRAGONS\n• DUEL MASTERS\n• JENGA\n• OPERATION\n• CONNECT 4\n• CLUE\n• THE GAME OF LIFE\n• TWISTER\n• TRIVIAL PURSUIT\n• And many others\nIncludes the Company’s face-to-face\nand digital game experiences played\nas board, off-the-board, digital, card,\nelectronic and role-playing games.\n• In 2022, Hasbro acquired D&D\nBeyond, the premier digital\ncontent platform for\nDUNGEONS & DRAGONS.\n• New fall introductions included:\nConnect 4 Spin, Wordle: The\nParty Game and Clue Escape.\nEmerging Brands • PJ MASKS\n• FURREAL FRIENDS\n• POWER RANGERS\n• STARTING LINEUP\n• GI JOE\n• SUPER SOAKER\n• POTATO HEAD\n• PLAYSKOOL\n• LITTLEST PET SHOP\nIncludes those brands we own or\ncontrol which have not yet grown to\nthe significance of a franchise brand,\nmany of which we believe could be\npotential franchise brands. We also\nlaunch new brands in this portfolio.\n• During September 2022,\nHasbro re-launched its line of\nsports collectibles from\nSTARTING LINEUP with its NBA\nseries and announced plans to\nexpand the product line with an\nNFL partnership.\nTV, Film &\nEntertainment\neOne programming includes:\nTelevision Series\n• Yellowjackets\n• Cruel Summer\n• The Rookie\n• The Rookie: Feds\nFilm\nIncludes all film, TV and other\nentertainment related revenues that\nare not Hasbro-branded. All Hasbro-\nbranded content is included in the\nportfolios noted above.\n• On November 17, 2022, we\nannounced that the Hasbro’s\nBoard of Directors authorized\nthe initiation of a marketing\n• DUEL MASTERS\n• JENGA\n• OPERATION\n• CONNECT 4\n• CLUE\n• THE GAME OF LIFE\n• TWISTER\n• TRIVIAL PURSUIT\n• And many others\n• FURREAL FRIENDS\n• POWER RANGERS\n• STARTING LINEUP\n• GI JOE\n• SUPER SOAKER\n• POTATO HEAD\n• PLAYSKOOL\n• LITTLEST PET SHOP\n• Yellowjackets\n• Cruel Summer\n• The Rookie\n• The Rookie: Feds\n• Deep Water\nWars, each for multi-year terms.\ntelevision series of our partners.\nParty Game and Clue Escape.\nprocess of certain parts of our\n15\nBrand Portfolio Key Brands • The Woman King\ndistribution rights including:\n• Stillwater\nDescription and Significant Developments\neOne also has numerous TV and Film\n• Fear The Walking Dead\neOne TV and film business not\ndirectly supporting the\nCompany’s Branded\nEntertainment strategy. Hasbro\nwill continue to develop and\nproduce animation, digital\nshorts, scripted TV and\ntheatrical films for audiences\nrelated to core Hasbro IP.\nBrand Portfolio Realignment\nEffective for the first quarter 2023, we are realigning our brand portfolios to correspond with the\nevolution of our Blueprint 2.0 strategy. We plan to focus on fewer, bigger, more profitable brands that\nshowcase our leadership in preschool, games, creativity, outdoor and action brands.\nOur new product categories beginning in the first quarter of 2023 are as follows:\nO Franchise Brands - A refreshed group of our most profitable brands that includes PEPPA PIG,\nTRANSFORMERS, MAGIC: THE GATHERING, DUNGEONS & DRAGONS, PLAY-DOH, NERF and\nHASBRO GAMING as a whole.\nO Partner Brands - The Partner Brands category will continue to include those brands we license\nfrom other parties such as Disney’s STAR WARS and MARVEL as well as other partners, for\nwhich we develop toy and game products, however we intend to concentrate on those key\nPartner Brands that give us the biggest growth potential and where we can lead and innovate\nin the category.\nO Portfolio Brands - Our Portfolio Brands category will include those brands we own or control\nwhich we feel have upside in revenue and profitability that have not yet grown to the\nsignificance of a franchise brand.\nReportable Segments\nIn 2022, our four reportable segments were:\nO Consumer Products\nO Wizards of the Coast and Digital Gaming\nO Entertainment\nO Corporate and Other\nSegment Consumer\nProducts\nDescription of Segment\n• Engages in the sourcing, marketing and sales of toy and game products\naround the world. Our Consumer Products business also promotes our\nbrands through the out-licensing of our trademarks, characters and other\nbrand and intellectual property rights to third parties, through the sale of\nbranded consumer products such as toys and apparel. Additionally, through\nlicense agreements with third parties, we develop and sell products based on\npopular third-party brands.\npopular third-party brands.\n• Our toy and game products are supported by cross-functional teams\nincluding members of our global development and marketing groups. Our\nglobal development teams develop, design and engineer new products\nglobal development teams develop, design and engineer new products\n16\nSegment Description of Segment\nWizards of\nthe Coast and\nDigital\nGaming\nalongside the redesign of existing products, driven by our understanding of\nconsumers and using marketplace insights while leveraging opportunistic toy\nand game lines and licenses. Our global marketing function establishes a\ncohesive brand direction and assists our selling entities in establishing local\nmarketing programs. This strategy leverages efforts to increase consumer\nawareness of our brands through the Company’s entertainment experiences,\nincluding film and television programming and digital gaming.\n• As of December 25, 2022, we had offices supporting our Consumer Products\nbusiness in more than 35 countries contributing to sales in more than 120\ncountries.\n• Engages in the promotion of our brands through the development of trading\ncard, role-playing and digital game experiences based on Hasbro and\nWizards of the Coast properties.\n• Wizards of the Coast offerings include popular games such as the collectible\ncard game MAGIC: THE GATHERING and the fantasy tabletop role-playing\ngame DUNGEONS & DRAGONS, as well as other digital games developed\nfor mobile devices, personal computers and video gaming consoles including\nMagic: The Gathering Arena. Additionally, we out-license certain of our\nbrands to other third-party digital game developers who transform Hasbro\nbrand-based characters and other intellectual properties, into digital gaming\nexperiences.\nEntertainment • Engaged in the development, production, distribution and sale of world-class\nentertainment content including film, scripted and unscripted television,\nchildren’s programming, digital content and live entertainment.\n• Film and TV operations produce film and television content which is sold\nworldwide to distributors, broadcasters, television networks and streaming\nplatforms with an increasing focus on Hasbro branded entertainment. While\nmaintaining ownership of the content rights, we sell content for specific time\nperiods to generate broadcast license fees from television content and to\ncollect minimum guarantees and overage participations from films.\n• Feature length film and television programming based on our owned and\ncontrolled brands provide both immersive storytelling and the ability for our\nconsumers to enjoy these properties in different formats, which also drives\nproduct sales, results in increased licensing revenues, and expands overall\nbrand awareness.\nCorporate\nand Other\n• Provides management and administrative services to the Company’s\nprincipal reporting segments described above. The segment consists of\nunallocated corporate expenses and administrative costs and activities not\nconsidered when evaluating segment performance as well as certain assets\nbenefiting more than one segment. In addition, intersegment transactions are\neliminated within the Corporate and Other segment.\nWizards of the Coast properties.\nexperiences.\nchildren’s programming, digital content and live entertainment.\ncollect minimum guarantees and overage participations from films.\nbrand awareness.\n17\n• Additional Segment Information.\nO To further extend our range of products in the various segments of our business, we sell a\nportion of our toy and game products to retailers on a direct import basis from the Far East.\nThese sales are reflected in the revenue of the related segment, to which the sale relates.\nO Certain of our products are licensed to other companies for sale in selected countries\nwhere we do not otherwise have a direct business presence.\nO For more financial and geographic information regarding our segments, please see note\n21 to our consolidated financial statements, included in Part II, Item 8. Financial\nStatements, of this Form 10-K.",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000080_cash_flow",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities 725.6m, investing activities 117.6m, financing activities -818.1m",
      "golden_context": "Page 83:\n\nNet cash provided by (used in):\nOperating Activities $ 725.6 $ 372.9 $ 817.9\nInvesting Activities 117.6 (313.0) 242.0\nFinancing Activities (818.1) (553.3) (1,459.8)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000080_company_type",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 12:\n\nission file number 1-6682\nHasbro, Inc.\n(Exact Name of Registrant As Specified in its Charter)\nRhode Island 05-0155090\n(State of Incorporation) (I.R.S. Employer Ide",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000080_key_financials",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 5003.3m, net earnigns (loss): -1487.8m, diluted (loss) earnings per share -10.73",
      "golden_context": "Page 60:\n\nummary of Financial Performance\nA summary of the Company’s results of operations for 2023, 2022 and 2021 is illustrated below.\n2023 2022 2021\nNet revenues $ 5,003.3 $5,856.7 $ 6,420.4\nOperating (loss) profit (1,538.8) 407.7 763.3\n(Loss) earnings before income taxes (1,709.1) 261.5 581.9\nNet (loss) earnings (1,487.8) 203.0 435.3\nNet earnings (loss) attributable to noncontrolling interests 1.5 (0.5) 6.6\nNet (loss) earnings attributable to Hasbro, Inc. (1,489.3) 203.5 428.7\nDiluted (loss) earnings per share (10.73) 1.46 3.10",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000080_revenue",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "5003.3m",
      "golden_context": "Page 60:\n\nummary of Financial Performance\nA summary of the Company’s results of operations for 2023, 2022 and 2021 is illustrated below.\n2023 2022 2021\nNet revenues $ 5,003.3 $5,856.7 $ 6,420.4\nOperating (loss) profit (1,538.8) 407.7 763.3\n(Loss) earnings before income taxes (1,709.1) 261.5 581.9\nNet (loss) earnings (1,487.8) 203.0 435.3\nNet earnings (loss) attributable to noncontrolling interests 1.5 (0.5) 6.6\nNet (loss) earnings attributable to Hasbro, Inc. (1,489.3) 203.5 428.7\nDiluted (loss) earnings per share (10.73) 1.46 3.10",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000080_revenue_growth",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "5003.3m, previous year 5.856.7m",
      "golden_context": "Page 60:\n\nummary of Financial Performance\nA summary of the Company’s results of operations for 2023, 2022 and 2021 is illustrated below.\n2023 2022 2021\nNet revenues $ 5,003.3 $5,856.7 $ 6,420.4\nOperating (loss) profit (1,538.8) 407.7 763.3\n(Loss) earnings before income taxes (1,709.1) 261.5 581.9\nNet (loss) earnings (1,487.8) 203.0 435.3\nNet earnings (loss) attributable to noncontrolling interests 1.5 (0.5) 6.6\nNet (loss) earnings attributable to Hasbro, Inc. (1,489.3) 203.5 428.7\nDiluted (loss) earnings per share (10.73) 1.46 3.10",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000080_segments",
      "report_id": "ID_000080",
      "company_name": "Hasbro",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment, Corporate and Other",
      "golden_context": "Page 27:\n\nSegment Description of Segment\nConsumer\nProducts\n• Engages in the sourcing, marketing and sales of toy and game products\naround the world. Our Consumer Products business also promotes our\nbrands through the out-licensing of our trademarks, characters and other\nbrand and intellectual property rights to third parties, through the sale of\nbranded consumer products such as toys and apparel. Additionally, through\nlicense agreements with third parties, we develop and sell products based on\npopular third-party brands.\nWizards of\nthe Coast and\nDigital\nGaming\n• Engages in the promotion of our brands through the development of trading\ncard, role- playing and digital game experiences based on Hasbro and\nWizards of the Coast properties.\n• Wizards of the Coast offerings include popular games such as the collectible\ncard game MAGIC: THE GATHERING and the fantasy tabletop role-playing\ngame DUNGEONS & DRAGONS, as well as other digital games developed\nfor mobile devices, personal computers and video gaming consoles including\nMagic: The Gathering Arena. Additionally, we out-license certain of our\nbrands to other third-party digital game developers who transform Hasbro\nbrand-based characters and other intellectual properties, into digital gaming\nexperiences such as Monopoly Go!.\nEntertainment • Engaged in the development and production of Hasbro-branded\nentertainment content including film, television, children’s programming,\ndigital content and live entertainment focused on the rich vault of Hasbro-\nowned properties.\n• Feature length film and television programming based on our owned and\ncontrolled brands provide both immersive storytelling and the ability for our\nconsumers to enjoy these properties in different formats, which also drives\nproduct sales, results in increased licensing revenues, and expands overall\nbrand awareness.\n• See note 3 to our consolidated financial statements, included in Part II, Item\n8. Financial Statements, of this Form 10-K for additional information on the\nresults of operations attributable to the Company’s non-core eOne business\nsold to Lionsgate during the fourth quarter of 2023.\nCorporate\nand Other\n• Provides management and administrative services to the Company’s\nprincipal reporting segments described above. The segment consists of\nunallocated corporate expenses and administrative costs and activities not\nconsidered when evaluating segment performance as well as certain assets\nbenefiting more than one segment. In addition, intersegment transactions are\neliminated within the Corporate and Other segment.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000081_cash_flow",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Cash operating 1035m",
      "golden_context": "Page 9:\n\nFinancial Highlights\nFinancial Highlights\n(dollars in millions, except per share amounts) 2021 2020 2019\n(dollars in millions, except per share amounts) 2021 2020 2019\nResults of Operations\nResults of Operations\nNet sales Net sales $ 8,476 $ 8,476 $ $ 8,691 $ 8,691 $ 8,107\n8,107\nGross profit Gross profit $ 2,811 $ 2,811 $ $ 2,999 $ 2,999 $ 2,693\n2,693\nPercent of net sales Percent of net sales 33.2% 33.2% 34.5% 34.5% 33.2%\n33.2%\nEarnings before interest and taxes Earnings before interest and taxes $ 1,545 $ 1,545 $ $ 1,107 $ 1,107 $ 979\n979\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 1,008 $ $ 592 $ 592 $ 474\n474\nPer share — diluted Per share — diluted $ $ 3.30 3.30 $ $ 1.95 $ 1.95 $ 1.57\n1.57\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations $ $ (6) (6) $ $ 1,036 $ 1,036 $ (263)\n(263)\nPer share — diluted Per share — diluted $ $ (.02) (.02) $ $ 3.41 $ 3.41 $ (.87)\n(.87)\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ 1,002 $ 1,002 $ $ 1,628 $ 1,628 $ 211\n211\nPer share — diluted Per share — diluted $ $ 3.29 3.29 $ $ 5.36 $ 5.36 $ .70\n.70\nOther Information\nOther Information\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nCapital expenditures $ 275 $ 299 $ 384\nCapital expenditures $ 275 $ 299 $ 384\nDividends per share $ 1.46 $ 1.40 $ 1.40\nDividends per share $ 1.46 $ 1.40 $ 1.40\n2021\n2021\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation\nImplementation\nPostretirement\nPostretirement\nCharges (Gains)\nCharges (Gains)\nPension\nPension\nCosts and Other\nCosts and Other\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nDeferred\nDeferred\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nGains\nGains\nTax Charge\nTax Charge\nAs Reported Adjusted\nAs Reported Adjusted\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Interest, net 209 - - - - - 209\nAdd: Interest, net 209 - - - - - 209\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nNet sales, as reported Net sales, as reported $ 8,476\n$ 8,476\nAdjusted EBIT margin 16.6%\nAdjusted EBIT margin 16.6%\nAdjusted EBIT percent change 2021/2020 Adjusted EBIT percent change 2021/2020 Adjusted EBIT Two-Year CAGR 2021/2019 Adjusted EBIT Two-Year CAGR 2021/2019 (3%)\n(3%)\n5%\n5%\n2020\n2020\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nCharges\nCharges\nPension\nPension\nLoss on\nLoss on\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nInvestment\nInvestment\nDebt\nDebt\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nLosses\nLosses\nExtinguishment\nExtinguishment\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - - -\nto noncontrolling interests - - - - - - - -\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Interest, net 341 - - - - - (75) 266\nAdd: Interest, net 341 - - - - - (75) 266\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nNet sales, as reported Net sales, as reported $ 8,691\n$ 8,691\nAdjusted EBIT margin 16.7%\nAdjusted EBIT margin 16.7%\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\n2019\n2019\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nPension\nPension\nBenefit\nBenefit\nSettlement\nSettlement\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nImpairment Charges\nImpairment Charges\nTax Reform\nTax Reform\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nReconciliation of GAAP and Non-GAAP Financial Measures\nReconciliation of GAAP and Non-GAAP Financial Measures\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Interest, net 354 - - - - - 354\nAdd: Interest, net 354 - - - - - 354\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nNet sales, as reported Net sales, as reported $ 8,107\n$ 8,107\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\nAdjusted EBIT margin 15.6%\nAdjusted EBIT margin 15.6%\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nConsequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. 2021\n2021\n2020\n2020\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nCurrency\nCurrency\n$ 8,476 $ 8,476 $ (21) $ 8,455\n$ (21) $ 8,455\nEstimated\nEstimated\nAs\nAs\nImpact of Divestitures\nImpact of Divestitures\nReported\nReported\nImpact of 53rd Week\nImpact of 53rd Week\nOrganic Net Sales\nOrganic Net Sales\n$ 8,691 $ (48) $ (151) $ 8,492\n$ 8,691 $ (48) $ (151) $ 8,492\n2021\n2021\n2019\n2019\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nAs\nAs\nCurrency\nCurrency\nReported\nReported\nImpact of Divestitures\nImpact of Divestitures\nOrganic Net Sales\nOrganic Net Sales\n$ 8,476\n$ 8,476\n$ (14) $ 8,462\n$ (14) $ 8,462\n$ 8,107\n$ 8,107\n$ (155) $ 7,952\n$ (155) $ 7,952\n2021 2021 2020\n2020\n2019\n2019\nEPS % Change\nEPS % Change\nTwo-Year CAGR\nTwo-Year CAGR\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nEPS Impact 2021/2019\nEPS Impact 2021/2019\nEPS Impact\nEPS Impact\nEPS Impact\nEPS Impact\n2021/2020\n2021/2020\n% Change\n% Change\nEarnings from continuing operations attributable to Campbell Soup Company, as reported Earnings from continuing operations attributable to Campbell Soup Company, as reported $ 3.30 $ 3.30 $ 1.95 $ 1.57\n$ 1.95 $ 1.57\nNet Sales,\nNet Sales,\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\n(2%) -%\n(2%) -%\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nCharges (gains) associated with divestitures (.01) .12 -\nCharges (gains) associated with divestitures (.01) .12 -\nPension settlement charges (gains) (.10) .11 .07\nPension settlement charges (gains) (.10) .11 .07\nDeferred tax charge .06 - -\nDeferred tax charge .06 - -\n% Change\n% Change\nTwo-Year CAGR\nTwo-Year CAGR\nInvestment losses - .12 -\nInvestment losses - .12 -\nNet Sales,\nNet Sales,\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\n5% 6% 3%\n5% 6% 3%\nLoss on debt extinguishment - .19 -\nLoss on debt extinguishment - .19 -\nImpairment charges - - .04\nImpairment charges - - .04\nTax reform - - .01\nTax reform - - .01\n(reconciliations continued on opposite page)\n(reconciliations continued on opposite page)\nAdjusted Earnings from continuing operations attributable to Campbell Soup Company $ 2.98 $ 2.95 $ 2.30 1% 14%",
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    },
    {
      "unique_key": "ID_000081_company_type",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Not provided",
      "golden_context": "Page 10:\n\nAMPBELL SOUP COMPANY\nNew Jersey 21-0419870\nState of Incorporation I.R.S. Employer Identification \n\nbeans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and Campbell’s tomato juice. The\nsegment also included the results of our Plum baby food and snacks business, which was sold on May 3, 2021; and\n• Snacks, which consists of Pepperidge Farm cookies, crackers, fresh bakery and frozen products in U.S. retail,\nincluding Pepperidge Farm Farmhouse* cookies and bakery products, Milano* cookies and Goldfish* crackers; and\nSnyder’s of Hanover* pretzels, Lance* sandwich crackers, Cape Cod* and Kettle Brand* potato chips, Late July*\nsnacks, Snack Factory pretzel crisps,* Pop Secret popcorn, Emerald nuts, and other snacking products in retail and\nfoodservice in the U.S. and Canada. The segment includes the retail business in Latin America. This segment also\nincluded the results of our European chips business, which was sold on October 11, 2019. We refer to the * trademarks\nas our \"power brands.\"\nBeginning in 2022, the foodservice and Canadian portion of Snacks will be managed as part of Meals & Beverages. See\nNote 6 to the Consolidated Financial Statements and \"Management's Discussion and Analysis of Financial Condition and\nResults of Operations\" for additional information regarding our reportable segments.\nIngredients and Packaging\nThe ingredients and packaging materials required for the manufacture of our food and beverage products are purchased\nfrom various suppliers, substantially all of which are located in North America. In the later part of 2021 and the early part of\n2022, the costs of labor, raw materials, energy, fuel, packaging materials and other inputs necessary for the production and\ndistribution of our products have rapidly increased. In addition, many of these items are subject to price fluctuations from a\nnumber of factors, including but not limited to climate change, changes in crop size, cattle cycles, herd and flock disease, crop\ndisease, crop pests, product scarcity, demand for raw materials, commodity market speculation, energy costs, currency\nfluctuations, supplier capacities, government-sponsored agricultural programs and other government policy, import and export\nrequirements (including tariffs), drought and excessive rain, temperature extremes and other adverse weather events, water\nscarcity, scarcity of suitable agricultural land, scarcity of organic ingredients, pandemic illness (such as the COVID-19\npandemic) and other factors that may be beyond our control during the growing and harvesting seasons. To help reduce some of\nthis price volatility, we use a combination of purchase orders, short- and long-term contracts, inventory management practices\nand various commodity risk management tools for most of our ingredients and packaging. Ingredient inventories are generally\nat a peak during the late fall and decline during the winter and spring. Since many ingredients of suitable quality are available in\nsufficient quantities only during certain seasons, we make commitments for the purchase of such ingredients in their respective\nseasons. In addition, certain of the materials required for the manufacture of our products, including steel and aluminum, have\nbeen or may be impacted by tariffs. Although we are unable to predict the impact of our ability to source these ingredients and\npackaging materials in the future, we expect these supply pressures to continue throughout 2022. We also expect the pressures\nof input cost inflation to continue into 2022. For information on the impact of inflation, see \"Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations.\"\nCustomers\nIn most of our markets, sales and merchandising activities are conducted through our own sales force and/or third-party\nbrokers and distribution partners. Our products are generally resold to consumers through retail food chains, mass discounters,\nmass merchandisers, club stores, convenience stores, drug stores, dollar stores, e-commerce and other retail, commercial and\nnon-commercial establishments. Each of Pepperidge Farm and Snyder's-Lance also has a direct-store-delivery distribution\nmodel that uses independent contractor distributors. We make shipments promptly after acceptance of orders.\nOur five largest customers accounted for approximately 46% of our consolidated net sales from continuing operations in\n2021, 44% in 2020 and 43% in 2019. Our largest customer, Wal-Mart Stores, Inc. and its affiliates, accounted for\napproximately 21% of our consolidated net sales from continuing operations in 2021 and 2020 and 20% 2019. Both of our\nreportable segments sold products to Wal-Mart Stores, Inc. or its affiliates. No other customer accounted for 10% or more of\nour consolidated net sales.\nTrademarks and Technology\nAs of September 15, 2021, we owned over 3,000 trademark registrations and applications in over 160 countries. We\nbelieve our trademarks are of material importance to our business. Although the laws vary by jurisdiction, trademarks generally\nare valid as long as they are in use and/or their registrations are properly maintained and have not been found to have become\ngeneric. Trademark registrations generally can be renewed indefinitely as long as the trademarks are in use. We believe that our\nprincipal brands, including Campbell's, Cape Cod, Chunky, Emerald, Goldfish, Kettle Brand, Lance, Late July, Milano, Pace,\nPacific Foods, Pepperidge Farm, Pop Secret, Prego, Snack Factory, Snyder's of Hanover, Spaghettios, Swanson, and V8, are\nprotected by trademark law in the major markets where they are used.\nAlthough we own a number of valuable patents, we do not regard any segment of our business as being dependent upon\nany single patent or group of related patents. In addition, we own copyrights, both registered and unregistered, proprietary trade\nsecrets, technology, know-how, processes and other intellectual property rights that are not registered.\n4\nCompetition\nWe operate in a highly competitive industry and experience competition in all of our categories. This competition arises\nfrom numerous competitors of varying sizes across multiple food and beverage categories, and includes producers of private\nlabel products, as well as other branded food and beverage manufacturers. Private label products are generally sold at lower\nprices than branded products. Competitors market and sell their products through traditional retailers and e-commerce. All of\nthese competitors vie for trade merchandising support and consumer dollars. The number of competitors cannot be reliably\nestimated. Our principal areas of competition are brand recognition, taste, nutritional value, price, promotion, innovation, shelf\nspace and customer service.\nCapital Expenditures\nDuring 2021, our aggregate capital expenditures were $275 million. We expect to spend approximately $330 million for\ncapital projects in 2022. Major capital projects based on planned spend in 2022 include a chips and cracker capacity expansion\nfor our Snacks business and a new manufacturing line for our Meals & Beverages business.\nGovernment Regulation\nThe manufacture and sale of consumer food products is highly regulated. In the U.S., our activities are subject to regulation\nby various federal government agencies, including the Food and Drug Administration, the Department of Agriculture, the\nFederal Trade Commission, the Department of Labor, the Department of Commerce, the Occupational Safety and Health\nAdministration and the Environmental Protection Agency, as well as various state and local agencies. Our business is also\nregulated by similar agencies outside of the U.S. We believe that we are in compliance with such laws and regulations in all\nmaterial respects and do not expect that continued compliance with such laws and regulations will have a material effect on\ncapital expenditures, earnings or our competitive position.\nEnvironmental Matters\nWe have requirements for the operation and design of our facilities that meet or exceed applicable environmental rules and\nregulations. Of our $275 million in capital expenditures made during 2021, approximately $15 million were for compliance\nwith environmental laws and regulations in the U.S. We further estimate that approximately $14 million of the capital\nexpenditures anticipated during 2022 will be for compliance with U.S. environmental laws and regulations. We believe that the\ncontinued compliance with existing environmental laws and regulations (both within the U.S. and elsewhere) will not have a\nmaterial effect on capital expenditures, earnings or our competitive position. In addition, we continue to monitor existing and\npending environmental laws and regulations within the U.S. and elsewhere relating to climate change and greenhouse gas\nemissions. While the impact of these laws and regulations cannot be predicted with certainty, we do not believe that compliance\nwith these laws and regulations will have a material effect on capital expenditures,",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000081_key_financials",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Adjusted EPS 2.98, net sales 8.5bn, operating cash flow 1bn",
      "golden_context": "Page 3:\n\nFISCAL 2021\nFISCAL 2021\nRESULTS“As we move into the next\nRESULTS\nphase of our strategic plan, our\nmission is to unlock Campbell’s\nfull growth potential while\nremaining nimble and\ncognizant of the challenges\nstill posed by COVID-19.”\nThis year, we added new talent to our Board, welcoming\nGrant Hill as our newest director. Grant is a thought leader\nwith a track record of building successful brands and\nbusinesses and leading inclusive, diverse and winning\nteams. We will benefit from his perspective.\nOn behalf of the Campbell Board of Directors, I would like\nto thank Mark Clouse, Campbell’s President and Chief\nExecutive Officer, for leading with clarity, integrity and\nauthenticity, along with the Campbell Leadership Team,\nwho continue to skillfully navigate a volatile and uncertain\nlandscape. I also want to recognize the enormous\ncommitment of all our employees, particularly our front-line\nteams. Finally, I would like to thank our shareholders for\ntheir continued confidence and support. I am confident\nCampbell is well-positioned to further build on the success\nand momentum we established this year and to fully unlock\nour growth potential.\nA D J U S T E D A D J U S T E D E P S 1\nE P S 1\nP S 1\n$2.98\n$2.98\nP E R P E R S H A R E\nS H A R E\n+ 1 %\n+ 1 %\n+ 1 %\nO P E R A T I N G\nO P E R A T I N G\nC A S H C A S H F L O W\nF L O W\n$ 1\n$ 1\nB I L L I O N\nB I L L I O N\nN E T N E T E T S A L E S\nS A L E S\nS A L E S\n$ 8.5\n$ 8.5\nB I L L I O N\nB I L L I O N\n- -\n- 2 %\n- 2 %\nC O N S U M P T I O N 2\nC O N S U M P T I O N 2\nC\n+10%\n+10%\nV S .\nV S .\nF I S C A L F I S C A L 2 0 1 9\n2 0 1 9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000081_revenue",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 8476m",
      "golden_context": "Page 9:\n\nFinancial Highlights\nFinancial Highlights\n(dollars in millions, except per share amounts) 2021 2020 2019\n(dollars in millions, except per share amounts) 2021 2020 2019\nResults of Operations\nResults of Operations\nNet sales Net sales $ 8,476 $ 8,476 $ $ 8,691 $ 8,691 $ 8,107\n8,107\nGross profit Gross profit $ 2,811 $ 2,811 $ $ 2,999 $ 2,999 $ 2,693\n2,693\nPercent of net sales Percent of net sales 33.2% 33.2% 34.5% 34.5% 33.2%\n33.2%\nEarnings before interest and taxes Earnings before interest and taxes $ 1,545 $ 1,545 $ $ 1,107 $ 1,107 $ 979\n979\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 1,008 $ $ 592 $ 592 $ 474\n474\nPer share — diluted Per share — diluted $ $ 3.30 3.30 $ $ 1.95 $ 1.95 $ 1.57\n1.57\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations $ $ (6) (6) $ $ 1,036 $ 1,036 $ (263)\n(263)\nPer share — diluted Per share — diluted $ $ (.02) (.02) $ $ 3.41 $ 3.41 $ (.87)\n(.87)\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ 1,002 $ 1,002 $ $ 1,628 $ 1,628 $ 211\n211\nPer share — diluted Per share — diluted $ $ 3.29 3.29 $ $ 5.36 $ 5.36 $ .70\n.70\nOther Information\nOther Information\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nCapital expenditures $ 275 $ 299 $ 384\nCapital expenditures $ 275 $ 299 $ 384\nDividends per share $ 1.46 $ 1.40 $ 1.40\nDividends per share $ 1.46 $ 1.40 $ 1.40\n2021\n2021\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation\nImplementation\nPostretirement\nPostretirement\nCharges (Gains)\nCharges (Gains)\nPension\nPension\nCosts and Other\nCosts and Other\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nDeferred\nDeferred\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nGains\nGains\nTax Charge\nTax Charge\nAs Reported Adjusted\nAs Reported Adjusted\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Interest, net 209 - - - - - 209\nAdd: Interest, net 209 - - - - - 209\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nNet sales, as reported Net sales, as reported $ 8,476\n$ 8,476\nAdjusted EBIT margin 16.6%\nAdjusted EBIT margin 16.6%\nAdjusted EBIT percent change 2021/2020 Adjusted EBIT percent change 2021/2020 Adjusted EBIT Two-Year CAGR 2021/2019 Adjusted EBIT Two-Year CAGR 2021/2019 (3%)\n(3%)\n5%\n5%\n2020\n2020\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nCharges\nCharges\nPension\nPension\nLoss on\nLoss on\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nInvestment\nInvestment\nDebt\nDebt\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nLosses\nLosses\nExtinguishment\nExtinguishment\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - - -\nto noncontrolling interests - - - - - - - -\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Interest, net 341 - - - - - (75) 266\nAdd: Interest, net 341 - - - - - (75) 266\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nNet sales, as reported Net sales, as reported $ 8,691\n$ 8,691\nAdjusted EBIT margin 16.7%\nAdjusted EBIT margin 16.7%\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\n2019\n2019\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nPension\nPension\nBenefit\nBenefit\nSettlement\nSettlement\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nImpairment Charges\nImpairment Charges\nTax Reform\nTax Reform\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nReconciliation of GAAP and Non-GAAP Financial Measures\nReconciliation of GAAP and Non-GAAP Financial Measures\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Interest, net 354 - - - - - 354\nAdd: Interest, net 354 - - - - - 354\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nNet sales, as reported Net sales, as reported $ 8,107\n$ 8,107\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\nAdjusted EBIT margin 15.6%\nAdjusted EBIT margin 15.6%\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nConsequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. 2021\n2021\n2020\n2020\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nCurrency\nCurrency\n$ 8,476 $ 8,476 $ (21) $ 8,455\n$ (21) $ 8,455\nEstimated\nEstimated\nAs\nAs\nImpact of Divestitures\nImpact of Divestitures\nReported\nReported\nImpact of 53rd Week\nImpact of 53rd Week\nOrganic Net Sales\nOrganic Net Sales\n$ 8,691 $ (48) $ (151) $ 8,492\n$ 8,691 $ (48) $ (151) $ 8,492\n2021\n2021\n2019\n2019\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nAs\nAs\nCurrency\nCurrency\nReported\nReported\nImpact of Divestitures\nImpact of Divestitures\nOrganic Net Sales\nOrganic Net Sales\n$ 8,476\n$ 8,476\n$ (14) $ 8,462\n$ (14) $ 8,462\n$ 8,107\n$ 8,107\n$ (155) $ 7,952\n$ (155) $ 7,952\n2021 2021 2020\n2020\n2019\n2019\nEPS % Change\nEPS % Change\nTwo-Year CAGR\nTwo-Year CAGR\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nEPS Impact 2021/2019\nEPS Impact 2021/2019\nEPS Impact\nEPS Impact\nEPS Impact\nEPS Impact\n2021/2020\n2021/2020\n% Change\n% Change\nEarnings from continuing operations attributable to Campbell Soup Company, as reported Earnings from continuing operations attributable to Campbell Soup Company, as reported $ 3.30 $ 3.30 $ 1.95 $ 1.57\n$ 1.95 $ 1.57\nNet Sales,\nNet Sales,\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\n(2%) -%\n(2%) -%\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nCharges (gains) associated with divestitures (.01) .12 -\nCharges (gains) associated with divestitures (.01) .12 -\nPension settlement charges (gains) (.10) .11 .07\nPension settlement charges (gains) (.10) .11 .07\nDeferred tax charge .06 - -\nDeferred tax charge .06 - -\n% Change\n% Change\nTwo-Year CAGR\nTwo-Year CAGR\nInvestment losses - .12 -\nInvestment losses - .12 -\nNet Sales,\nNet Sales,\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\n5% 6% 3%\n5% 6% 3%\nLoss on debt extinguishment - .19 -\nLoss on debt extinguishment - .19 -\nImpairment charges - - .04\nImpairment charges - - .04\nTax reform - - .01\nTax reform - - .01\n(reconciliations continued on opposite page)\n(reconciliations continued on opposite page)\nAdjusted Earnings from continuing operations attributable to Campbell Soup Company $ 2.98 $ 2.95 $ 2.30 1% 14%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000081_revenue_growth",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 8476m, previous year 8691m",
      "golden_context": "Page 9:\n\nFinancial Highlights\nFinancial Highlights\n(dollars in millions, except per share amounts) 2021 2020 2019\n(dollars in millions, except per share amounts) 2021 2020 2019\nResults of Operations\nResults of Operations\nNet sales Net sales $ 8,476 $ 8,476 $ $ 8,691 $ 8,691 $ 8,107\n8,107\nGross profit Gross profit $ 2,811 $ 2,811 $ $ 2,999 $ 2,999 $ 2,693\n2,693\nPercent of net sales Percent of net sales 33.2% 33.2% 34.5% 34.5% 33.2%\n33.2%\nEarnings before interest and taxes Earnings before interest and taxes $ 1,545 $ 1,545 $ $ 1,107 $ 1,107 $ 979\n979\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 1,008 $ $ 592 $ 592 $ 474\n474\nPer share — diluted Per share — diluted $ $ 3.30 3.30 $ $ 1.95 $ 1.95 $ 1.57\n1.57\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations $ $ (6) (6) $ $ 1,036 $ 1,036 $ (263)\n(263)\nPer share — diluted Per share — diluted $ $ (.02) (.02) $ $ 3.41 $ 3.41 $ (.87)\n(.87)\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ 1,002 $ 1,002 $ $ 1,628 $ 1,628 $ 211\n211\nPer share — diluted Per share — diluted $ $ 3.29 3.29 $ $ 5.36 $ 5.36 $ .70\n.70\nOther Information\nOther Information\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nNet cash provided by operating activities $ 1,035 $ 1,396 $ 1,398\nCapital expenditures $ 275 $ 299 $ 384\nCapital expenditures $ 275 $ 299 $ 384\nDividends per share $ 1.46 $ 1.40 $ 1.40\nDividends per share $ 1.46 $ 1.40 $ 1.40\n2021\n2021\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation\nImplementation\nPostretirement\nPostretirement\nCharges (Gains)\nCharges (Gains)\nPension\nPension\nCosts and Other\nCosts and Other\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nDeferred\nDeferred\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nGains\nGains\nTax Charge\nTax Charge\nAs Reported Adjusted\nAs Reported Adjusted\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nEarnings from continuing operations attributable to Campbell Soup Company $ 1,008 $ 40 $ (126) $ (3) $ (29) $ 19 $ 909\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Taxes on earnings 328 13 (39) 14 (9) (19) 288\nAdd: Interest, net 209 - - - - - 209\nAdd: Interest, net 209 - - - - - 209\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nEarnings before interest and taxes (EBIT) $ 1,545 $ 53 $ (165) $ 11 $ (38) $ - $ 1,406\nNet sales, as reported Net sales, as reported $ 8,476\n$ 8,476\nAdjusted EBIT margin 16.6%\nAdjusted EBIT margin 16.6%\nAdjusted EBIT percent change 2021/2020 Adjusted EBIT percent change 2021/2020 Adjusted EBIT Two-Year CAGR 2021/2019 Adjusted EBIT Two-Year CAGR 2021/2019 (3%)\n(3%)\n5%\n5%\n2020\n2020\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nIn 2021, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $53 million ($40\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nCharges\nCharges\nPension\nPension\nLoss on\nLoss on\nBenefit\nBenefit\nAssociated\nAssociated\nSettlement\nSettlement\nInvestment\nInvestment\nDebt\nDebt\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\nmillion after tax, or $.13 per share) associated with restructuring and cost savings initiatives; gains of $165 million ($126 million after tax, or $.41 per share) associated with\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nwith Divestiture\nwith Divestiture\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nLosses\nLosses\nExtinguishment\nExtinguishment\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $11 million (and a gain of $3 million after tax, or $.01 per share) on the sale of the\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nPlum baby food and snacks business; pension settlement gains of $38 million ($29 million after tax, or $.10 per share); and a $19 million ($.06 per share) deferred tax charge in\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nEarnings from continuing operations attributable to Campbell Soup Company $ 592 $ 52 $ 92 $ 37 $ 33 $ 35 $ 57 $ 898\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nconnection with a legal entity reorganization as part of the continued integration of Snyder's-Lance, Inc.\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - - -\nto noncontrolling interests - - - - - - - -\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nIn 2020, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $69 million ($52\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmillion after tax, or $.17 per share) associated with restructuring and cost savings initiatives; losses of $121 million ($92 million after tax, or $.30 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nmark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $64 million ($37 million after tax, or $.12 per share) on the sale of the European\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nchips business; pension settlement charges of $43 million ($33 million after tax, or $.11 per share); a loss of $45 million ($35 million after tax, or $.12 per share) associated with\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nthe sale of our limited partnership interest in Acre Venture Partners, L.P.; and a loss of $75 million ($57 million after tax, or $.19 per share) on the extinguishment of debt.\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Taxes on earnings 174 17 29 27 10 10 18 285\nAdd: Interest, net 341 - - - - - (75) 266\nAdd: Interest, net 341 - - - - - (75) 266\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nEarnings before interest and taxes $ 1,107 $ 69 $ 121 $ 64 $ 43 $ 45 $ - $ 1,449\nNet sales, as reported Net sales, as reported $ 8,691\n$ 8,691\nAdjusted EBIT margin 16.7%\nAdjusted EBIT margin 16.7%\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nIn 2019, Earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $121 million ($92\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmillion after tax, or $.30 per share) associated with restructuring and cost savings initiatives; losses of $122 million ($93 million after tax, or $.31 per share) associated with\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nmark-to-market adjustments for defined benefit pension and postretirement plans; a pension settlement charge of $28 million ($22 million after tax, or $.07 per share);\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nimpairment charges of $16 million ($13 million after tax, or $.04 per share) related to the European chips business; and a tax charge of $2 million ($.01 per share) due to the\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\nenactment of the Tax Cuts and Jobs Act that was signed into law in December 2017.\n2019\n2019\nRestructuring Charges,\nRestructuring Charges,\nPension and\nPension and\nImplementation Costs and Other\nImplementation Costs and Other\nPostretirement\nPostretirement\nPension\nPension\nBenefit\nBenefit\nSettlement\nSettlement\n(dollars in millions)\n(dollars in millions)\nRelated Costs\nRelated Costs\nMark-to-Market\nMark-to-Market\nAs Reported Adjusted\nAs Reported Adjusted\nCharges\nCharges\nImpairment Charges\nImpairment Charges\nTax Reform\nTax Reform\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nEarnings from continuing operations attributable to Campbell Soup Company $ 474 $ 92 $ 93 $ 22 $ 13 $ 2 $ 696\nAdd: Net earnings (loss) attributable\nAdd: Net earnings (loss) attributable\nto noncontrolling interests - - - - - - -\nto noncontrolling interests - - - - - - -\nReconciliation of GAAP and Non-GAAP Financial Measures\nReconciliation of GAAP and Non-GAAP Financial Measures\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Taxes on earnings 151 29 29 6 3 (2) 216\nAdd: Interest, net 354 - - - - - 354\nAdd: Interest, net 354 - - - - - 354\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\nThe following information is provided to reconcile certain non-GAAP financial measures disclosed in the preceding pages to reported sales and Earnings from continuing\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\noperations. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nEarnings before interest and taxes $ 979 $ 121 $ 122 $ 28 $ 16 $ - $ 1,266\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nconsidered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical\nNet sales, as reported Net sales, as reported $ 8,107\n$ 8,107\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\noperating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales,\nAdjusted EBIT margin 15.6%\nAdjusted EBIT margin 15.6%\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nwhich exclude the impact of currency, acquisitions, divestitures, and the additional week in 2020, are a better indicator of our ongoing business performance. We also believe\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nthat financial information excluding certain transactions not considered to reflect the ongoing operating results improves the comparability of year-to-year earnings results.\nConsequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. 2021\n2021\n2020\n2020\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nCurrency\nCurrency\n$ 8,476 $ 8,476 $ (21) $ 8,455\n$ (21) $ 8,455\nEstimated\nEstimated\nAs\nAs\nImpact of Divestitures\nImpact of Divestitures\nReported\nReported\nImpact of 53rd Week\nImpact of 53rd Week\nOrganic Net Sales\nOrganic Net Sales\n$ 8,691 $ (48) $ (151) $ 8,492\n$ 8,691 $ (48) $ (151) $ 8,492\n2021\n2021\n2019\n2019\n(dollars in millions)\n(dollars in millions)\nNet sales\nNet sales\nAs\nAs\nImpact of\nImpact of\nReported Organic Net Sales\nReported Organic Net Sales\nAs\nAs\nCurrency\nCurrency\nReported\nReported\nImpact of Divestitures\nImpact of Divestitures\nOrganic Net Sales\nOrganic Net Sales\n$ 8,476\n$ 8,476\n$ (14) $ 8,462\n$ (14) $ 8,462\n$ 8,107\n$ 8,107\n$ (155) $ 7,952\n$ (155) $ 7,952\n2021 2021 2020\n2020\n2019\n2019\nEPS % Change\nEPS % Change\nTwo-Year CAGR\nTwo-Year CAGR\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nDiluted\nEPS Impact 2021/2019\nEPS Impact 2021/2019\nEPS Impact\nEPS Impact\nEPS Impact\nEPS Impact\n2021/2020\n2021/2020\n% Change\n% Change\nEarnings from continuing operations attributable to Campbell Soup Company, as reported Earnings from continuing operations attributable to Campbell Soup Company, as reported $ 3.30 $ 3.30 $ 1.95 $ 1.57\n$ 1.95 $ 1.57\nNet Sales,\nNet Sales,\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nRestructuring charges, implementation costs and other related costs .13 .17 .30\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\n(2%) -%\n(2%) -%\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nPension and postretirement benefit mark-to-market adjustments (.41) .30 .31\nCharges (gains) associated with divestitures (.01) .12 -\nCharges (gains) associated with divestitures (.01) .12 -\nPension settlement charges (gains) (.10) .11 .07\nPension settlement charges (gains) (.10) .11 .07\nDeferred tax charge .06 - -\nDeferred tax charge .06 - -\n% Change\n% Change\nTwo-Year CAGR\nTwo-Year CAGR\nInvestment losses - .12 -\nInvestment losses - .12 -\nNet Sales,\nNet Sales,\nAs Reported\nAs Reported\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\nOrganic Net Sales\n5% 6% 3%\n5% 6% 3%\nLoss on debt extinguishment - .19 -\nLoss on debt extinguishment - .19 -\nImpairment charges - - .04\nImpairment charges - - .04\nTax reform - - .01\nTax reform - - .01\n(reconciliations continued on opposite page)\n(reconciliations continued on opposite page)\nAdjusted Earnings from continuing operations attributable to Campbell Soup Company $ 2.98 $ 2.95 $ 2.30 1% 14%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000081_segments",
      "report_id": "ID_000081",
      "company_name": "Campbell",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Meals & Beverages, Snacks",
      "golden_context": "Page 11-12:\n\nReportable Segments\nOur reportable segments are:\n• Meals & Beverages, which includes the retail and foodservice businesses in the U.S. and Canada. The segment\nincludes the following products: Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Pacific\nFoods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_cash_flow",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "1.2bn operating cash flow",
      "golden_context": "Page 2:\n\n6 Billion$8.6 BillionNET SALES NET SALES\n$8.6 Billion $8.6 BillionNET SALES NET SALES\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\nShareholder Information Service\nFor the latest quarterly business results or other information\nrequests such as dividend dates, shareholder programs or product\nnews, visit investor.campbellsoupcompany.com.\nCampbell Brands\nProduct trademarks owned or licensed by Campbell Soup\nAs I look ahead, our portfolio of leading brands is more\nAs I look ahead, our portfolio of leading brands is more\nCompany and/or its subsidiaries appearing in the narrative text\nrelevant today than perhaps any other time. The\nrelevant today than perhaps any other time. The\nof this report are italicized.\nconvenience, comfort and value of our Meals & Beverages\nconvenience, comfort and value of our Meals & Beverages\nbrands, plus the elevated and differentiated nature of our\nbrands, plus the elevated and differentiated nature of our\nSnacks portfolio is a powerful combination. We have\nSnacks portfolio is a powerful combination. We have\nretained the new consumers we added in the last three\nretained the new consumers we added in the last three\n[FSC Logo Here]\nyears3 years3 and created renewed interest and loyalty among\nand created renewed interest and loyalty among\nyounger households. We are now on offense—fueling\nyounger households. We are now on offense—fueling\nThe papers utilized in the production of this Annual Report are all certified for\ngrowth with innovation and building upon strong\ngrowth with innovation and building upon strong\nForest Stewardship Council (FSC®) standards, which promote environmentally\nmarketing capabilities.\nmarketing capabilities.\nappropriate, socially beneficial and economically viable management of the\nworld’s forests. This annual report was printed by DG3 North America. DG3’s\nfacility uses exclusively vegetable based inks, 100% renewable wind energy and\n“Campbell is well-positioned to\n“Campbell is well-positioned to\nreleases zero VOCs into the environment.\nfurther build on the success and\nfurther build on the success and\nmomentum we have established.”\nmomentum we have established.”\nADJUSTED EPS1\nADJUSTED EPS1\n$2.85$2.85ADJUSTED EPS1\n$2.85 $2.85ADJUSTED EPS1\nFLAT VS. FISCAL 2021 FLAT VS. FISCAL 2021\nFLAT VS. FISCAL 2021 FLAT VS. FISCAL 2021\nCONSUMPTION2\nCONSUMPTION2\n+4%+4%CONSUMPTION2\n+4% +4%CONSUMPTION2\n$1.2 Billion$1.2 BillionOPERATING CASH FLOW OPERATING CASH FLOW\n$1.2 Billion \n\nPage 32:\n\nCAMPBELL SOUP COMPANY\nCAMPBELL SOUP COMPANY\nConsolidated Statements of Cash Flows\nConsolidated Statements of Cash Flows\n(millions)\n(millions)\n2022 2021 2020\n2022 2021 2020\n52 weeks 52 weeks 53 weeks\n52 weeks 52 weeks 53 weeks\nCash flows from operating activities:\nCash flows from operating activities:\nNet earnings Net earnings $ 757 $ 1,002 $ 1,628\n$ 757 $ 1,002 $ 1,628\nAdjustments to reconcile net earnings to operating cash flow\nAdjustments to reconcile net earnings to operating cash flow\nRestructuring charges 5 21 9\nRestructuring charges 5 21 9\nStock-based compensation 59 64 61\nStock-based compensation 59 64 61\nPension and postretirement benefit expense (income) (7) (267) 93\nPension and postretirement benefit expense (income) (7) (267) 93\nDepreciation and amortization Depreciation and amortization 337 317 328\n337 317 328\nDeferred income taxes Deferred income taxes 21 137 (6)\n21 137 (6)\nNet loss (gain) on sales of businesses Net loss (gain) on sales of businesses — 11 (975)\n— 11 (975)\nLoss on extinguishment of debt Loss on extinguishment of debt 4 — 75\n4 — 75\nInvestment losses — — 49\nInvestment losses — — 49\nOther 88 86 101\nOther 88 86 101\nChanges in working capital, net of divestitures\nChanges in working capital, net of divestitures\nAccounts receivable 48 (20) (30)\nAccounts receivable 48 (20) (30)\nInventories (314) (77) (20)\nInventories (314) (77) (20)\nOther current assets Other current assets 25 (28) (3)\n25 (28) (3)\nAccounts payable and accrued liabilities Accounts payable and accrued liabilities 200 (164) 145\n200 (164) 145\nOther (42) (47) (59)\nOther (42) (47) (59)\nNet cash provided by operating activities Net cash provided by operating activities 1,181 1,035 1,396\n1,181 1,035 1,396\nCash flows from investing activities:\nCash flows from investing activities:\nPurchases of plant assets Purchases of plant assets (242) (275) (299)\n(242) (275) (299)\nPurchases of route businesses Purchases of route businesses (1) (2) (11)\n(1) (2) (11)\nSales of route businesses Sales of route businesses 2 10 11\n2 10 11\nSales of businesses, net of cash divested Sales of businesses, net of cash divested — 101 2,537\n— 101 2,537\nProceeds from sale of investment Proceeds from sale of investment — — 30\n— — 30\nOther 11 8 4\nOther 11 8 4\nNet cash provided by (used in) investing activities Net cash provided by (used in) investing activities (230) (158) 2,272\n(230) (158) 2,272\nCash flows from financing activities:\nCash flows from financing activities:\nShort-term borrowings, including commercial paper and revolving line of credit 1,173 320 5,617\nShort-term borrowings, including commercial paper and revolving line of credit 1,173 320 5,617\nShort-term repayments, including commercial paper and revolving line of credit (997) (580) (6,909)\nShort-term repayments, including commercial paper and revolving line of credit (997) (580) (6,909)\nLong-term borrowings — — 1,000\nLong-term borrowings — — 1,000\nLong-term repayments — (921) (499)\nLong-term repayments — (921) (499)\nDividends paid (451) (439) (426)\nDividends paid (451) (439) (426)\nTreasury stock purchases Treasury stock purchases (167) (36) —\n(167) (36) —\nTreasury stock issuances Treasury stock issuances 3 2 23\n3 2 23\nPayments related to tax withholding for stock-based compensation (18) (15) (12)\nPayments related to tax withholding for stock-based compensation (18) (15) (12)\nPayments related to extinguishment of debt Payments related to extinguishment of debt (453) — (1,769)\n(453) — (1,769)\nPayments of debt issuance costs Payments of debt issuance costs — — (12)\n— — (12)\nNet cash used in financing activities Net cash used in financing activities (910) (1,669) (2,987)\n(910) (1,669) (2,987)\nEffect of exchange rate changes on cash Effect of exchange rate changes on cash (1) 2 (1)\n(1) 2 (1)\nNet change in cash and cash equivalents Net change in cash and cash equivalents 40 (790) 680\n40 (790) 680\nCash and cash equivalents — beginning of period (including discontinued operations) Cash and cash equivalents — beginning of period (including discontinued operations) 69 69 859 859 179\n179\nLess cash and cash equivalents discontinued operations - end of period Less cash and cash equivalents discontinued operations - end of period — — —\n— — —\nCash and cash equivalents — end of period Cash and cash equivalents — end of period $ 109 $ 69 $ 859\n$ 109 $ 69 $ 859",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_company_type",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Not provided",
      "golden_context": "Page 13:\n\n☐ Yes þ No\nof the Atlanta Hawks\nþ Yes ☐ No\nCo-owner and Vice Chairman\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nExecutive Vice President, Chief R&D and Innovation Officer\nGrant H. Hill\nCraig S. Slavtcheff\n[10-K BEGINS HERE]\nSecurities registered pursuant to Section 12(g) of the Act: None\nChief Financial Officer of Allergan plc\nNew York Stock Exchange\nExecutive Vice President and Chief Communications Officer\nFormer Executive Vice President and\nCPB Capital Stock, par value $.0375 Anthony J. Sanzio\nMaria Teresa (Tessa) Hilado\nName of Each Exchange on Which Registered\nTrading Symbol Title of Each Class Securities registered pursuant to Section 12(b) of the Act:\nExecutive Vice President and Chief Supply Chain Officer\nManaging Director for the DFE Trust Company\nDaniel L. Poland\nTelephone Number: (856) 342-4800\nBennett Dorrance, Jr.\nPrincipal Executive Offices\nof The Hershey Company\nCamden, New Jersey 08103-1799\nExecutive Vice President and President, Snacks\nValerie J. Oswalt\nRetired Chairman and Chief Executive Officer\n1 Campbell Place\nJohn P. (JP) Bilbrey\nI.R.S. Employer Identification No.\nState of Incorporation Executive Vice President and Chief Human Resources Officer\nNew Jersey 21-0419870\nDiane Johnson May\nChief Financial Officer of Time Warner Inc.\nFormer Executive Vice President and\nHoward M. Averill",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_key_financials",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "8.6bn net sales, adjusted EPS 2.85, 1.2bn operating cash flow",
      "golden_context": "Page 2:\n\n6 Billion$8.6 BillionNET SALES NET SALES\n$8.6 Billion $8.6 BillionNET SALES NET SALES\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\n+2% ORGANIC NET SALES GROWTH VS. FISCAL 20211\nShareholder Information Service\nFor the latest quarterly business results or other information\nrequests such as dividend dates, shareholder programs or product\nnews, visit investor.campbellsoupcompany.com.\nCampbell Brands\nProduct trademarks owned or licensed by Campbell Soup\nAs I look ahead, our portfolio of leading brands is more\nAs I look ahead, our portfolio of leading brands is more\nCompany and/or its subsidiaries appearing in the narrative text\nrelevant today than perhaps any other time. The\nrelevant today than perhaps any other time. The\nof this report are italicized.\nconvenience, comfort and value of our Meals & Beverages\nconvenience, comfort and value of our Meals & Beverages\nbrands, plus the elevated and differentiated nature of our\nbrands, plus the elevated and differentiated nature of our\nSnacks portfolio is a powerful combination. We have\nSnacks portfolio is a powerful combination. We have\nretained the new consumers we added in the last three\nretained the new consumers we added in the last three\n[FSC Logo Here]\nyears3 years3 and created renewed interest and loyalty among\nand created renewed interest and loyalty among\nyounger households. We are now on offense—fueling\nyounger households. We are now on offense—fueling\nThe papers utilized in the production of this Annual Report are all certified for\ngrowth with innovation and building upon strong\ngrowth with innovation and building upon strong\nForest Stewardship Council (FSC®) standards, which promote environmentally\nmarketing capabilities.\nmarketing capabilities.\nappropriate, socially beneficial and economically viable management of the\nworld’s forests. This annual report was printed by DG3 North America. DG3’s\nfacility uses exclusively vegetable based inks, 100% renewable wind energy and\n“Campbell is well-positioned to\n“Campbell is well-positioned to\nreleases zero VOCs into the environment.\nfurther build on the success and\nfurther build on the success and\nmomentum we have established.”\nmomentum we have established.”\nADJUSTED EPS1\nADJUSTED EPS1\n$2.85$2.85ADJUSTED EPS1\n$2.85 $2.85ADJUSTED EPS1\nFLAT VS. FISCAL 2021 FLAT VS. FISCAL 2021\nFLAT VS. FISCAL 2021 FLAT VS. FISCAL 2021\nCONSUMPTION2\nCONSUMPTION2\n+4%+4%CONSUMPTION2\n+4% +4%CONSUMPTION2\n$1.2 Billion$1.2 BillionOPERATING CASH FLOW OPERATING CASH FLOW\n$1.2 Billion ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_revenue",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 8562m",
      "golden_context": "Page 31:\n\nAMPBELL SOUP COMPANY\nCAMPBELL SOUP COMPANY\nConsolidated Statements of Earnings\nConsolidated Statements of Earnings\n(millions, except per share amounts)\n(millions, except per share amounts)\n2022 2021 2020\n2022 2021 2020\n52 weeks 52 weeks 52 weeks 52 weeks 53 weeks\n53 weeks\nNet sales Net sales $ $ 8,562 8,562 $ $ 8,476 8,476 $ $ 8,691\n8,691\nCosts and expenses\nCosts and expenses\nCost of products sold Cost of products sold 5,935 5,935 5,665 5,665 5,692\n5,692\nMarketing and selling expenses Marketing and selling expenses 734 734 817 817 947\n947\nAdministrative expenses Administrative expenses 617 617 598 598 622\n622\nResearch and development expenses Research and development expenses 87 87 84 84 93\n93\nOther expenses / (income) Other expenses / (income) 21 21 (254) (254) 221\n221\nRestructuring charges Restructuring charges 5 5 21 21 9\n9\nTotal costs and expenses Total costs and expenses 7,399 7,399 6,931 6,931 7,584\n7,584\nEarnings before interest and taxes Earnings before interest and taxes 1,163 1,163 1,545 1,545 1,107\n1,107\nInterest expense Interest expense 189 189 210 210 345\n345\nInterest income Interest income 1 1 1 1 4\n4\nEarnings before taxes Earnings before taxes 975 975 1,336 1,336 766\n766\nTaxes on earnings Taxes on earnings 218 218 328 328 174\n174\nEarnings from continuing operations Earnings from continuing operations 757 757 1,008 1,008 592\n592\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (6) (6) 1,036\n1,036\nNet earnings Net earnings 757 757 1,002 1,002 1,628\n1,628\nLess: Net earnings (loss) attributable to noncontrolling interests Less: Net earnings (loss) attributable to noncontrolling interests — — — — —\n—\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ $ 757 757 $ $ 1,002 1,002 $ $ 1,628\n1,628\nPer Share — Basic\nPer Share — Basic\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.33 3.33 $ $ 1.96\n1.96\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (.02) (.02) 3.43\n3.43\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.31 3.31 $ $ 5.39\n5.39\nWeighted average shares outstanding — basic Weighted average shares outstanding — basic 301 301 303 303 302\n302\nPer Share — Assuming Dilution\nPer Share — Assuming Dilution\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.30 3.30 $ $ 1.95\n1.95\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (.02) (.02) 3.41\n3.41\nNet earnings attributable to Campbell Soup Company(1) Net earnings attributable to Campbell Soup Company(1) $ $ 2.51 2.51 $ $ 3.29 3.29 $ $ 5.36\n5.36\nWeighted average shares outstanding — assuming dilution 302 305 304",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_revenue_growth",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 8562m, prior 8476m",
      "golden_context": "Page 31:\n\nAMPBELL SOUP COMPANY\nCAMPBELL SOUP COMPANY\nConsolidated Statements of Earnings\nConsolidated Statements of Earnings\n(millions, except per share amounts)\n(millions, except per share amounts)\n2022 2021 2020\n2022 2021 2020\n52 weeks 52 weeks 52 weeks 52 weeks 53 weeks\n53 weeks\nNet sales Net sales $ $ 8,562 8,562 $ $ 8,476 8,476 $ $ 8,691\n8,691\nCosts and expenses\nCosts and expenses\nCost of products sold Cost of products sold 5,935 5,935 5,665 5,665 5,692\n5,692\nMarketing and selling expenses Marketing and selling expenses 734 734 817 817 947\n947\nAdministrative expenses Administrative expenses 617 617 598 598 622\n622\nResearch and development expenses Research and development expenses 87 87 84 84 93\n93\nOther expenses / (income) Other expenses / (income) 21 21 (254) (254) 221\n221\nRestructuring charges Restructuring charges 5 5 21 21 9\n9\nTotal costs and expenses Total costs and expenses 7,399 7,399 6,931 6,931 7,584\n7,584\nEarnings before interest and taxes Earnings before interest and taxes 1,163 1,163 1,545 1,545 1,107\n1,107\nInterest expense Interest expense 189 189 210 210 345\n345\nInterest income Interest income 1 1 1 1 4\n4\nEarnings before taxes Earnings before taxes 975 975 1,336 1,336 766\n766\nTaxes on earnings Taxes on earnings 218 218 328 328 174\n174\nEarnings from continuing operations Earnings from continuing operations 757 757 1,008 1,008 592\n592\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (6) (6) 1,036\n1,036\nNet earnings Net earnings 757 757 1,002 1,002 1,628\n1,628\nLess: Net earnings (loss) attributable to noncontrolling interests Less: Net earnings (loss) attributable to noncontrolling interests — — — — —\n—\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ $ 757 757 $ $ 1,002 1,002 $ $ 1,628\n1,628\nPer Share — Basic\nPer Share — Basic\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.33 3.33 $ $ 1.96\n1.96\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (.02) (.02) 3.43\n3.43\nNet earnings attributable to Campbell Soup Company Net earnings attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.31 3.31 $ $ 5.39\n5.39\nWeighted average shares outstanding — basic Weighted average shares outstanding — basic 301 301 303 303 302\n302\nPer Share — Assuming Dilution\nPer Share — Assuming Dilution\nEarnings from continuing operations attributable to Campbell Soup Company Earnings from continuing operations attributable to Campbell Soup Company $ $ 2.51 2.51 $ $ 3.30 3.30 $ $ 1.95\n1.95\nEarnings (loss) from discontinued operations Earnings (loss) from discontinued operations — — (.02) (.02) 3.41\n3.41\nNet earnings attributable to Campbell Soup Company(1) Net earnings attributable to Campbell Soup Company(1) $ $ 2.51 2.51 $ $ 3.29 3.29 $ $ 5.36\n5.36\nWeighted average shares outstanding — assuming dilution 302 305 304",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000082_segments",
      "report_id": "ID_000082",
      "company_name": "Campbell",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Meals & Beverages, Snacks",
      "golden_context": "Page 15:\n\nReportable Segments\nReportable Segments\nOur reportable segments are:\nOur reportable segments are:\n• Meals & Beverages, which consists of our soup, simple meals and beverages products in retail and foodservice in the\n• Meals & Beverages, which consists of our soup, simple meals and beverages products in retail and foodservice in the\nU.S. and Canada. The segment includes the following products: Campbell’s condensed and ready-to-serve soups;\nU.S. and Canada. The segment includes the following products: Campbell’s condensed and ready-to-serve soups;\nSwanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican\nSwanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican\nsauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and\nsauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and\nCampbell’s tomato juice. The segment also includes snacking products in foodservice and Canada. The segment\nCampbell’s tomato juice. The segment also includes snacking products in foodservice and Canada. The segment\nincluded the results of our Plum baby food and snacks business, which was sold on May 3, 2021; and\nincluded the results of our Plum baby food and snacks business, which was sold on May 3, 2021; and\n• Snacks, which consists of Pepperidge Farm cookies*, crackers, fresh bakery and frozen products, including Goldfish\n• Snacks, which consists of Pepperidge Farm cookies*, crackers, fresh bakery and frozen products, including Goldfish\ncrackers*, Snyder’s of Hanover pretzels*, Lance sandwich crackers*, Cape Cod potato chips*, Kettle Brand potato\ncrackers*, Snyder’s of Hanover pretzels*, Lance sandwich crackers*, Cape Cod potato chips*, Kettle Brand potato\nchips*\nchips*\n, Late July snacks*, Snack Factory pretzel crisps*, Pop Secret popcorn, Emerald nuts, and other snacking\n, Late July snacks*, Snack Factory pretzel crisps*, Pop Secret popcorn, Emerald nuts, and other snacking\nproducts in retail in the U.S. Beginning in 2022, we refer to the * brands as our \"power brands.\" The segment includes\nproducts in retail in the U.S. Beginning in 2022, we refer to the * brands as our \"power brands.\" The segment includes\nthe retail business in Latin America. The segment also included the results of our European chips business, which was\nthe retail business in Latin America. The segment also included the results of our European chips business, which was\nsold on October 11, 2019.\nsold on October 11, 2019.\nBeginning in 2022, the foodservice and Canadian business formerly included in our Snacks segment is now managed as\nBeginning in 2022, the foodservice and Canadian business formerly included in our Snacks segment is now managed as\npart of the Meals & Beverages segment. Segment results have been adjusted retrospectively to reflect this change. See Note 6 to\n\nPage 16:\n\n\n\nthe Consolidated Financial Statements and \"Management's Discussion and Analysis of Financial Condition and Results of\nthe Consolidated Financial Statements and \"Management's Discussion and Analysis of Financial Condition and Results of\nOperations\" for additional information regarding our reportable segments.\nOperations\" for additional information regarding our reportable segments.\nIngredients and Packaging\nIngredients and Packaging\nThe ingredients and packaging materials required for the manufacture of our food and beverage products are purchased\nThe ingredients and packaging materials required for the manufacture of our food and beverage products are purchased\nfrom various suppliers, substantially all of which are located in North America. During 2022, we experienced significantly\nfrom various suppliers, substantially all of which are located in North America. During 2022, we experienced significantly\nelevated commodity and supply chain costs including the costs of labor, raw materials, energy, fuel, packaging materials and\nelevated commodity and supply chain costs including the costs of labor, raw materials, energy, fuel, packaging materials and\nother inputs necessary for the production and distribution of our products. In addition, many of these items are subject to price\nother inputs necessary for the production and distribution of our products. In addition, many of these items are subject to price\nfluctuations from a number of factors, including but not limited to climate change, changes in crop size, cattle cycles, herd and\nfluctuations from a number of factors, including but not limited to climate change, changes in crop size, cattle cycles, herd and\nflock disease, crop disease, crop pests, product scarcity, demand for raw materials, commodity market speculation, energy\nflock disease, crop disease, crop pests, product scarcity, demand for raw materials, commodity market speculation, energy\ncosts, currency fluctuations, supplier capacities, government-sponsored agricultural programs and other government policy,\ncosts, currency fluctuations, supplier capacities, government-sponsored agricultural programs and other government policy,\nimport and export requirements (including tariffs), drought and excessive rain, temperature extremes and other adverse weather\nimport and export requirements (including tariffs), drought and excessive rain, temperature extremes and other adverse weather\nevents, water scarcity, scarcity of suitable agricultural land, scarcity of organic ingredients, pandemic illness (such as the\nevents, water scarcity, scarcity of suitable agricultural land, scarcity of organic ingredients, pandemic illness (such as the\nCOVID-19 pandemic), armed hostilities (including the ongoing conflict between Russia and Ukraine) and other factors that\nCOVID-19 pandemic), armed hostilities (including the ongoing conflict between Russia and Ukraine) and other factors that\nmay be beyond our control. To help reduce some of this price volatility, we use a combination of purchase orders, short- and\nmay be beyond our control. To help reduce some of this price volatility, we use a combination of purchase orders, short- and\nlong-term contracts, inventory management practices and various commodity risk management tools for most of our ingredients\nlong-term contracts, inventory management practices and various commodity risk management tools for most of our ingredients\nand packaging. Ingredient inventories are generally at a peak during the late fall and decline during the winter and spring. Since\nand packaging. Ingredient inventories are generally at a peak during the late fall and decline during the winter and spring. Since\nmany ingredients of suitable quality are available in sufficient quantities only during certain seasons, we make commitments for\nmany ingredients of suitable quality are available in sufficient quantities only during certain seasons, we make commitments for\nthe purchase of such ingredients in their respective seasons. Although we are unable to predict the impact of our ability to\nthe purchase of such ingredients in their respective seasons. Although we are unable to predict the impact of our ability to\nsource these ingredients and packaging materials in the future, we expect the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_cash_flow",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "1.1bn cash flow operations",
      "golden_context": "Page 3:\n\n$9.4 Billion\nNet\nsales\nDear shareholders,\n+10% Organic net sales growth2,4\n+8%Dollar consumption3,4\n$1.1B\nCash flow from\noperations\nFor over 150 years, we have made food that consumers love.\nOur history has been built by the hard work of dedicated teams\n—past and present—and our commitment to our people, our\nculture, our brands and the communities we serve.\nFiscal 2023 was another strong year for our company, even with\nthe food industry facing significant inflationary challenges, the\nlingering effects of the global pandemic and shifts in consumer\nbehavior. Campbell’s results demonstrate that the execution of\nour strategic plan and dedication to the promise of our purpose\ncan culminate in consistent, dependable results even during\neconomic uncertainty.\nWe enter fiscal 2024 with another year of measurable progress\nbehind us and excitement about the future and the power of\nour advantaged portfolio, our best-in-class supply chain and our\nenhanced capabilities in marketing and innovation. We remain\nfocused on setting a higher standard for our performance and\ncontinuing to create sustained value for our shareholders and\nother stakeholders.\nStrategic pillars\n$3.00Adjusted\nEPS2\nBuild a\nwinning team\nand culture\nAccelerate\nprofitable\ngrowth\nSnacks\nFiscal 2023 was another fantastic year for our Snacks\ndivision. Our strategic focus on highly differentiated\nand relevant brands is leading to sustainable,\nprofitable growth.\nOur power brands continued to perform well with\n16% dollar consumption growth versus the prior year1\n.\nOn a four-year basis, dollar consumption was up 38%1\n,\nwith all eight power brands growing double digits1\nand seven power brands holding volume share5. This\nunderscores the strength of our portfolio and reflects\nthe continuation of heightened consumer demand for\nsnacking.\nA clear example is Goldfish, an iconic snack that\nis quickly approaching a billion dollars in annual\nnet sales, driven by our product and packaging\ninnovations and engaging marketing. Building on this\nmodel, we are now driving increased innovation on\nother brands in our Snacks portfolio. Another\nstandout has been Lance. This satisfying,\nconvenient snack delivered share growth across\ndollars, volume and units versus a year ago6\n.\nImportantly, in fiscal 2023, we drove a step change\nin Snacks operating margins, growing from 13.1% in\nfiscal 2022 to 14.4%. This is consistent with our margin\nroadmap and gives us increased confidence that we’ll\nshow steady improvement in fiscal 2024, when we expect\nto be north of 15% and remain on the path to deliver our\nlong-term goals.\nWith best-in-class service levels, strong contributions\nfrom innovation, effective marketing efforts that continue\nto win with consumers and capital investments to meet\nconsumer demand, I’m confident that Snacks will continue\nto deliver accelerated growth in fiscal 2024.\nMeals & Beverages\nOur Meals & Beverages division is home to leading brands\nthat offer consumers many delicious choices at a great value.\nIn soup, our strategic focus on Campbell’s condensed icons\nand condensed cooking soups, Chunky and Pacific led to\nstrong performance, with all up 0.4 share points versus\nthe prior year7 and up 1.3 points versus four years ago7. Our\nmarketing and innovation efforts on these brands have\nWe are adding what I believe is the most compelling\ngrowth story in food with the addition of Sovos\nBrands—a stand-out business with a volume-led,\nhigh-growth portfolio that meets several of the most\nrelevant consumer trends.\nbeen very effective and compelling for consumers, even\namong younger households. Our soup portfolio continues\nThe acquisition aligns with and accelerates\nto demonstrate long-term growth potential.\nCampbell’s focused strategic roadmap and has the\ntpotential o fuel earnings growth. It gives us fast-\nIn sauces, Prego remained the share leader for over\ngrowing, premium brands that provide a significant\n+5%2, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_company_type",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Not given",
      "golden_context": "Page 9:\n\nCAMPBELL SOUP COMPANY\nNew Jersey 21-0419870\nState of Incorporation I.R.S. Employer Identification",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_key_financials",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "9.4bn net sales, 3 adjusted EPS, 1.1bn cash flow operations",
      "golden_context": "Page 3:\n\n$9.4 Billion\nNet\nsales\nDear shareholders,\n+10% Organic net sales growth2,4\n+8%Dollar consumption3,4\n$1.1B\nCash flow from\noperations\nFor over 150 years, we have made food that consumers love.\nOur history has been built by the hard work of dedicated teams\n—past and present—and our commitment to our people, our\nculture, our brands and the communities we serve.\nFiscal 2023 was another strong year for our company, even with\nthe food industry facing significant inflationary challenges, the\nlingering effects of the global pandemic and shifts in consumer\nbehavior. Campbell’s results demonstrate that the execution of\nour strategic plan and dedication to the promise of our purpose\ncan culminate in consistent, dependable results even during\neconomic uncertainty.\nWe enter fiscal 2024 with another year of measurable progress\nbehind us and excitement about the future and the power of\nour advantaged portfolio, our best-in-class supply chain and our\nenhanced capabilities in marketing and innovation. We remain\nfocused on setting a higher standard for our performance and\ncontinuing to create sustained value for our shareholders and\nother stakeholders.\nStrategic pillars\n$3.00Adjusted\nEPS2\nBuild a\nwinning team\nand culture\nAccelerate\nprofitable\ngrowth\nSnacks\nFiscal 2023 was another fantastic year for our Snacks\ndivision. Our strategic focus on highly differentiated\nand relevant brands is leading to sustainable,\nprofitable growth.\nOur power brands continued to perform well with\n16% dollar consumption growth versus the prior year1\n.\nOn a four-year basis, dollar consumption was up 38%1\n,\nwith all eight power brands growing double digits1\nand seven power brands holding volume share5. This\nunderscores the strength of our portfolio and reflects\nthe continuation of heightened consumer demand for\nsnacking.\nA clear example is Goldfish, an iconic snack that\nis quickly approaching a billion dollars in annual\nnet sales, driven by our product and packaging\ninnovations and engaging marketing. Building on this\nmodel, we are now driving increased innovation on\nother brands in our Snacks portfolio. Another\nstandout has been Lance. This satisfying,\nconvenient snack delivered share growth across\ndollars, volume and units versus a year ago6\n.\nImportantly, in fiscal 2023, we drove a step change\nin Snacks operating margins, growing from 13.1% in\nfiscal 2022 to 14.4%. This is consistent with our margin\nroadmap and gives us increased confidence that we’ll\nshow steady improvement in fiscal 2024, when we expect\nto be north of 15% and remain on the path to deliver our\nlong-term goals.\nWith best-in-class service levels, strong contributions\nfrom innovation, effective marketing efforts that continue\nto win with consumers and capital investments to meet\nconsumer demand, I’m confident that Snacks will continue\nto deliver accelerated growth in fiscal 2024.\nMeals & Beverages\nOur Meals & Beverages division is home to leading brands\nthat offer consumers many delicious choices at a great value.\nIn soup, our strategic focus on Campbell’s condensed icons\nand condensed cooking soups, Chunky and Pacific led to\nstrong performance, with all up 0.4 share points versus\nthe prior year7 and up 1.3 points versus four years ago7. Our\nmarketing and innovation efforts on these brands have\nWe are adding what I believe is the most compelling\ngrowth story in food with the addition of Sovos\nBrands—a stand-out business with a volume-led,\nhigh-growth portfolio that meets several of the most\nrelevant consumer trends.\nbeen very effective and compelling for consumers, even\namong younger households. Our soup portfolio continues\nThe acquisition aligns with and accelerates\nto demonstrate long-term growth potential.\nCampbell’s focused strategic roadmap and has the\ntpotential o fuel earnings growth. It gives us fast-\nIn sauces, Prego remained the share leader for over\ngrowing, premium brands that provide a significant\n+5%2, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_revenue",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 9357m",
      "golden_context": "Page 26:\n\nCAMPBELL SOUP COMPANY\nConsolidated Statements of Earnings\n(millions, except per share amounts)\n2023 2022 2021\nNet sales $ 9,357 $ 8,562 $ 8,476\nCosts and expenses\nCost of products sold 6,440 5,935 5,665\nMarketing and selling expenses 811 734 817\nAdministrative expenses 654 617 598\nResearch and development expenses 92 87 84\nOther expenses / (income) 32 21 (254)\nRestructuring charges 16 5 21\nTotal costs and expenses 8,045 7,399 6,931\nEarnings before interest and taxes 1,312 1,163 1,545\nInterest expense 188 189 210\nInterest income 4 1 1\nEarnings before taxes 1,128 975 1,336\nTaxes on earnings 270 218 328\nEarnings from continuing operations 858 757 1,008\nLoss from discontinued operations — — (6)\nNet earnings 858 757 1,002\nLess: Net earnings (loss) attributable to noncontrolling interests — — —\nNet earnings attributable to Campbell Soup Company $ 858 $ 757 $ 1,002\nPer Share — Basic\nEarnings from continuing operations attributable to Campbell Soup Company $ 2.87 $ 2.51 $ 3.33\nLoss from discontinued operations — — (.02)\nNet earnings attributable to Campbell Soup Company $ 2.87 $ 2.51 $ 3.31\nWeighted average shares outstanding — basic 299 301 303\nPer Share — Assuming Dilution\nEarnings from continuing operations attributable to Campbell Soup Company $ 2.85 $ 2.51 $ 3.30\nLoss from discontinued operations — — (.02)\nNet earnings attributable to Campbell Soup Company(1) $ 2.85 $ 2.51 $ 3.29\nWeighted average shares outstanding — assuming dilution 301 302 305",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_revenue_growth",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 9357m, prior 8562m",
      "golden_context": "Page 26:\n\nCAMPBELL SOUP COMPANY\nConsolidated Statements of Earnings\n(millions, except per share amounts)\n2023 2022 2021\nNet sales $ 9,357 $ 8,562 $ 8,476\nCosts and expenses\nCost of products sold 6,440 5,935 5,665\nMarketing and selling expenses 811 734 817\nAdministrative expenses 654 617 598\nResearch and development expenses 92 87 84\nOther expenses / (income) 32 21 (254)\nRestructuring charges 16 5 21\nTotal costs and expenses 8,045 7,399 6,931\nEarnings before interest and taxes 1,312 1,163 1,545\nInterest expense 188 189 210\nInterest income 4 1 1\nEarnings before taxes 1,128 975 1,336\nTaxes on earnings 270 218 328\nEarnings from continuing operations 858 757 1,008\nLoss from discontinued operations — — (6)\nNet earnings 858 757 1,002\nLess: Net earnings (loss) attributable to noncontrolling interests — — —\nNet earnings attributable to Campbell Soup Company $ 858 $ 757 $ 1,002\nPer Share — Basic\nEarnings from continuing operations attributable to Campbell Soup Company $ 2.87 $ 2.51 $ 3.33\nLoss from discontinued operations — — (.02)\nNet earnings attributable to Campbell Soup Company $ 2.87 $ 2.51 $ 3.31\nWeighted average shares outstanding — basic 299 301 303\nPer Share — Assuming Dilution\nEarnings from continuing operations attributable to Campbell Soup Company $ 2.85 $ 2.51 $ 3.30\nLoss from discontinued operations — — (.02)\nNet earnings attributable to Campbell Soup Company(1) $ 2.85 $ 2.51 $ 3.29\nWeighted average shares outstanding — assuming dilution 301 302 305",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000083_segments",
      "report_id": "ID_000083",
      "company_name": "Campbell",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Meals & Beverages, Snacks",
      "golden_context": "Page 10:\n\nReportable Segments\nOur reportable segments are:\n• Meals & Beverages, which consists of our soup, simple meals and beverages products in retail and foodservice in the\nU.S. and Canada. The segment includes the following products: Campbell’s condensed and ready-to-serve soups;\nSwanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican\nsauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and\nCampbell’s tomato juice. The segment also includes snacking products in foodservice and Canada. The segment\nincluded the results of our Plum baby food and snacks business, which was sold on May 3, 2021; and\n• Snacks, which consists of Pepperidge Farm cookies*, crackers, fresh bakery and frozen products, including Goldfish\ncrackers*, Snyder’s of Hanover pretzels*, Lance sandwich crackers*, Cape Cod potato chips*, Kettle Brand potato\nchips*\n, Late July snacks*, Snack Factory pretzel crisps*, Pop Secret popcorn, and other snacking products in retail in\nthe U.S. We refer to the * brands as our \"power brands.\" The segment includes the retail business in Latin America.\nThe segment included the results of our Emerald nuts business, which was sold on May 30, 2023.\nSee Note 6 to the Consolidated Financial Statements and \"Management's Discussion and Analysis of Financial Condition\nand Results of Operations\" for additional information regarding our reportable segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_cash_flow",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash: 2187m, investing -1322.3m, -682.1m, total cash flow 191.9m",
      "golden_context": "Page 42:\n\nConsolidated Statements of Cash Flows\nIn millions, except per share amounts\nYears Ended December 31,\n2021 2020 2019\nCash Flows from Operating Activities\nNet earnings (loss) including noncontrolling interests $ 1,634.9 $ 665.6 $ (1,090.8)\nAdjustments to reconcile net earnings including noncontrolling interests to net cash provided by\noperating activities:\nDepreciation, depletion and amortization 812.9 847.6 882.7\nAmortization of acquired inventory — — (5.5)\nDeferred and other income taxes 98.8 (684.0) (261.3)\nEquity in net (earnings) loss of nonconsolidated companies, net of dividends (2.1) 97.1 64.6\nAccretion expense for asset retirement obligations 71.9 68.0 62.4\nAccretion expense for leases 13.4 24.2 18.6\nShare-based compensation expense 29.5 17.8 27.9\nImpairment of goodwill — — 588.6\nUnrealized (gain) loss on derivatives 7.2 (26.6) (59.2)\nForeign currency adjustments (2.6) 14.1 50.1\nNet proceeds from settlement of interest rate swaps — 34.7 —\nMine closure costs 158.1 — 871.0\n(Gain) loss on disposal of fixed assets (5.3) 16.3 18.7\nOther — (19.1) (3.2)\nChanges in assets and liabilities:\nReceivables, net (683.6) (153.6) 34.6\nInventories, net (1,067.9) 191.4 128.1\nOther current assets and noncurrent assets (18.0) 66.1 (36.0)\nAccounts payable and accrued liabilities 995.1 333.3 (175.2)\nOther noncurrent liabilities 144.7 89.7 (20.7)\nNet cash provided by operating activities 2,187.0 1,582.6 1,095.4\nCash Flows from Investing Activities\nCapital expenditures (1,288.6) (1,170.6) (1,272.2)\nPurchases of available-for-sale securities - restricted (433.6) (618.7) (557.6)\nProceeds from sale of available-for-sale securities - restricted 410.1 607.2 533.2\nProceeds from sale of assets 28.1 — 4.0\nAcquisition, net of cash acquired (24.1) — (55.1)\nPurchases of held-to-maturity securities (3.2) (6.1) (15.4)\nProceeds from sale of held-to-maturity securities 0.8 1.7 2.3\nOther (11.8) (3.0) (0.1)\nNet cash used in investing activities (1,322.3) (1,189.5) (1,360.9)\nCash Flows from Financing Activities\nPayments of short-term debt (726.6) (1,542.5) (554.2)\nProceeds from issuance of short-term debt 1,029.3 1,521.1 591.0\nPayments of structured accounts payable arrangements (1,028.4) (1,156.2) (977.1)\nProceeds from structured accounts payable arrangements 1,122.7 1,037.4 1,124.2\nCollections of transferred receivables 445.0 — —\nPayments of transferred receivables (363.9) — —\nPayments of long-term debt (608.3) (66.9) (48.3)\nProceeds from issuance of long-term debt — 4.7 —\nRepurchases of stock (410.9) — (149.9)\nCash dividends paid (103.7) (75.8) (67.2)\nDividends paid to non-controlling interest (31.3) (0.6) (0.7)\nOther (6.0) (5.0) —\nNet cash used in financing activities (682.1) (283.8) (82.2)\nEffect of exchange rate changes on cash 9.3 (47.2) 9.0\nNet change in cash, cash equivalents and restricted cash 191.9 62.1 (338.7)\nCash, cash equivalents and restricted cash—beginning of year 594.4 532.3 871.0\nCash, cash equivalents and restricted cash—end of year $ 786.3 $ 594.4 $ 532.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_company_type",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Not provided",
      "golden_context": "No context given as no company type is provided in the annual report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_key_financials",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "12.4bn revenues, 2.5bn operating earnings, 1.6bn net earnings",
      "golden_context": "Page 2:\n\nCONSOLIDATED REVENUES\nOPERATING EARNINGS\nNET EARNINGS\n$12.4B\n$2.5B\n$1.6B\n+42% Y/Y\n+498% Y/Y\n+145% Y/Y\n1See “Non-GAAP Financial Measures” for additional information and reconciliation.\nADJUSTED EBITDA1\n$3.6B\n+129% Y/Y\nPHOSPHATE POTASH MOSAIC FERTILIZANTES\nNet\nRevenues\nOperating\nEarnings\nAdjusted\nEBITDA1\nNet\nRevenues\nOperating\nEarnings\nAdjusted\nEBITDA1\nNet\nRevenues\nOperating\nEarnings\nAdjusted\nEBITDA1\n$4.9B\n$1.2B $1.7B\n$2.6B $837M $1.3B\n$5.1B\n$745M $821M\n$(147)M $536M\n$3.1B $402M $722M\n$2.0B $347M $473M",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_revenue",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 12357.4m",
      "golden_context": "Page 6:\n\nResults of Operations\nThe following table shows the results of operations for the years ended December 31, 2021, 2020, and 2019:\nYears Ended December 31, 2021-2020 2020-2019\n(in millions, except per share data) 2021 2020 2019 Change Percent Change Percent\nNet sales $ 12,357.4 $ 8,681.7 $ 8,906.3 $ 3,675.7 42 % $ (224.6) (3) %\nCost of goods sold 9,157.1 7,616.8 8,009.0 1,540.3 20 % (392.2) (5) %\nGross margin 3,200.3 1,064.9 897.3 2,135.4 NM 167.6 19 %\nGross margin percentage 25.9 % 12.3 % 10.1 % 13.6 % 2.2 %\nSelling, general and administrative\nexpenses 430.5 371.5 354.1 59.0 16 % 17.4 5 %\nImpairment, restructuring and other\nexpenses 158.1 — 1,462.1 158.1 NM (1,462.1) (100) %\nOther operating expenses 143.2 280.5 176.0 (137.3) (49) % 104.5 59 %\nOperating earnings (loss) 2,468.5 412.9 (1,094.9) 2,055.6 NM 1,507.8 (138)\nInterest expense, net (169.1) (180.6) (182.9) 11.5 (6) % 2.3 (1) %\nForeign currency transaction (loss)\ngain (78.5) (64.3) 20.2 (14.2) 22 % (84.5) NM\nOther income 3.9 12.9 1.5 (9.0) (70) % 11.4 NM\nEarnings (loss) from consolidated\ncompanies before income taxes 2,224.8 180.9 (1,256.1) 2,043.9 NM 1,437.0 (114)\nProvision for (benefit from) income\ntaxes 597.7 (578.5) (224.7) 1,176.2 NM (353.8) 157\nEarnings (loss) from consolidated\ncompanies 1,627.1 759.4 (1,031.4) 867.7 114 % 1,790.8 (174)\nEquity in net earnings (loss) of\nnonconsolidated companies 7.8 (93.8) (59.4) 101.6 (108) % (34.4) 58\nNet earnings (loss) including\nnoncontrolling interests 1,634.9 665.6 (1,090.8) 969.3 146 % 1,756.4 (161)\nLess: Net earnings (loss) attributable\nto noncontrolling interests 4.3 (0.5) (23.4) 4.8 NM 22.9 (98)\nNet earnings (loss) attributable to\nMosaic $ 1,630.6 $ 666.1 $ (1,067.4) $ 964.5 145 % $ 1,733.5 (162)\nDiluted net earnings (loss) per share\nattributable to Mosaic $ 4.27 $ 1.75 $ (2.78) $ 2.52 144 % $ 4.53 (163)\nDiluted weighted average number of\nshares outstanding 381.6 381.3 383.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_revenue_growth",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 12357.4m, prior year 8681.7m",
      "golden_context": "Page 6:\n\nResults of Operations\nThe following table shows the results of operations for the years ended December 31, 2021, 2020, and 2019:\nYears Ended December 31, 2021-2020 2020-2019\n(in millions, except per share data) 2021 2020 2019 Change Percent Change Percent\nNet sales $ 12,357.4 $ 8,681.7 $ 8,906.3 $ 3,675.7 42 % $ (224.6) (3) %\nCost of goods sold 9,157.1 7,616.8 8,009.0 1,540.3 20 % (392.2) (5) %\nGross margin 3,200.3 1,064.9 897.3 2,135.4 NM 167.6 19 %\nGross margin percentage 25.9 % 12.3 % 10.1 % 13.6 % 2.2 %\nSelling, general and administrative\nexpenses 430.5 371.5 354.1 59.0 16 % 17.4 5 %\nImpairment, restructuring and other\nexpenses 158.1 — 1,462.1 158.1 NM (1,462.1) (100) %\nOther operating expenses 143.2 280.5 176.0 (137.3) (49) % 104.5 59 %\nOperating earnings (loss) 2,468.5 412.9 (1,094.9) 2,055.6 NM 1,507.8 (138)\nInterest expense, net (169.1) (180.6) (182.9) 11.5 (6) % 2.3 (1) %\nForeign currency transaction (loss)\ngain (78.5) (64.3) 20.2 (14.2) 22 % (84.5) NM\nOther income 3.9 12.9 1.5 (9.0) (70) % 11.4 NM\nEarnings (loss) from consolidated\ncompanies before income taxes 2,224.8 180.9 (1,256.1) 2,043.9 NM 1,437.0 (114)\nProvision for (benefit from) income\ntaxes 597.7 (578.5) (224.7) 1,176.2 NM (353.8) 157\nEarnings (loss) from consolidated\ncompanies 1,627.1 759.4 (1,031.4) 867.7 114 % 1,790.8 (174)\nEquity in net earnings (loss) of\nnonconsolidated companies 7.8 (93.8) (59.4) 101.6 (108) % (34.4) 58\nNet earnings (loss) including\nnoncontrolling interests 1,634.9 665.6 (1,090.8) 969.3 146 % 1,756.4 (161)\nLess: Net earnings (loss) attributable\nto noncontrolling interests 4.3 (0.5) (23.4) 4.8 NM 22.9 (98)\nNet earnings (loss) attributable to\nMosaic $ 1,630.6 $ 666.1 $ (1,067.4) $ 964.5 145 % $ 1,733.5 (162)\nDiluted net earnings (loss) per share\nattributable to Mosaic $ 4.27 $ 1.75 $ (2.78) $ 2.52 144 % $ 4.53 (163)\nDiluted weighted average number of\nshares outstanding 381.6 381.3 383.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000084_segments",
      "report_id": "ID_000084",
      "company_name": "Mosaic",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Phosphates, Potash, Mosaic Fertilizantes",
      "golden_context": "Page 4:\n\nntroduction\nThe Mosaic Company (before or after the Cargill Transaction, as defined below, “Mosaic,” and with its consolidated\nsubsidiaries, “we,” “us,” “our” or the “Company”) is the parent company of the business that was formed through the\nbusiness combination (“Combination”) of IMC Global Inc. and the Cargill Crop Nutrition fertilizer businesses of Cargill,\nIncorporated and its subsidiaries (collectively, “Cargill”) on October 22, 2004. In May 2011, Cargill divested its\napproximately 64% equity interest in us in a split-off to its stockholders and a debt exchange with certain Cargill debt\nholders.\nWe produce and market concentrated phosphate and potash crop nutrients. We conduct our business through wholly and\nmajority owned subsidiaries as well as businesses in which we own less than a majority or a non-controlling interest,\nincluding consolidated variable interest entities and investments accounted for by the equity method.\nWe are organized into the following business segments:\n• Our Phosphates business segment owns and operates mines and production facilities in Florida, which produce\nconcentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in\nLouisiana, which produce concentrated phosphate crop nutrients for sale domestically and internationally. We have\na 75% economic interest in the Miski Mayo Phosphate Mine (“Miski Mayo Mine”) in Peru. These results are\nconsolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma’aden\nWa’ad Al Shamal Phosphate Company (“MWSPC”), a joint venture to develop, own and operate integrated\nphosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC\nphosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter\nreporting lag in our Consolidated Statements of Earnings (Loss).\n• Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S.\nwhich produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include\ndomestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of\nCanadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.\n• Our Mosaic Fertilizantes business segment includes five phosphate rock mines, four phosphate chemical plants and\na potash mine in Brazil. The segment also includes our distribution business in South America, which consists of\nsales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay.\nWe also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant\nand a deep-water port and throughput warehouse terminal facility in Brazil.\nIntersegment eliminations, unrealized mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort® results\nof operations, and the results of the China and India distribution businesses are included within Corporate, Eliminations and\nOther. See Note 24 of the Consolidated Financial Statements in this report for segment results.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_cash_flow",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "3935.8m operating activities, investing activities -1259.6m, financing activities -2678.7m",
      "golden_context": "Page 21:\n\nSummary of Cash Flows\nThe following table represents a comparison of the net cash provided by operating activities, net cash used in investing\nactivities and net cash used in financing activities for calendar years 2022, 2021 and 2020:\nYears Ended December 31,\n(in millions) 2022-2021 2021-2020\n2022 2021 2020 Change Percent Change Percent\n$ 3,935.8 $ 2,187.0 $ 1,582.6 $ 1,748.8 80 % $ 604.4 38 %\n(1,259.6) (1,322.3) (1,189.5) 62.7 5 % (132.8) (11) %\n(2,678.7) (682.1) (283.8) (1,996.6) (293) % (398.3) (140) %\nCash Flow Net cash provided by operating\nactivities Net cash used in investing\nactivities Net cash used in financing\nactivities Operating Activities\nIn 2022, net cash flow from operating activities provided us with a significant source of liquidity. For the year ended\nDecember 31, 2022, net cash provided by operating activities was $3.9 billion, compared to $2.2 billion in the prior year. Our\nresults of operations, after non-cash adjustments to net earnings, contributed $4.9 billion to cash flows from operating\nactivities during 2022, compared to $2.8 billion during 2021. During 2022, we had an unfavorable change in assets and\nliabilities of $1.0 billion, compared to an unfavorable change of $0.6 billion during 2021.\nThe change in assets and liabilities for the year ended December 31, 2022, was primarily driv",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_company_type",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Not given",
      "golden_context": "No context given as no company type is provided in the annual report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_key_financials",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "19.1bn revenues, EBITDA 6.2bn",
      "golden_context": "Page 2:\n\nCONSOLIDATED REVENUES\n$19.1B\n+55% Y/Y\nOPERATING EARNINGS\n$4.8B\n+94% Y/Y\nNET EARNINGS\n$3.6B\n+120% Y/Y\nADJUSTED EBITDA1\n$6.2B\n+73% Y/Y\n2022\n2021\nPHOSPHATE Net\nRevenues\n$6.2B\nOperating\nEarnings\nAdjusted\nEBITDA1\n$1.3B $2.2B\n$1.2B $1.7B\n1 See “Non-GAAP Financial Measures” for additional information and reconciliation.\nPOTASH MOSAIC FERTILIZANTES\nNet\nRevenues\nOperating\nEarnings\nAdjusted\nEBITDA1\nNet\nRevenues\nOperating\nEarnings\nAdjusted\nEBITDA1\n$5.2B $2.8B $3.1B\n$8.3B\n$910M $1B\n$4.9B $837M $1.3B\n$2.6B $745M $821M",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_revenue",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 19125.2m",
      "golden_context": "Page 40:\n\nConsolidated Statements of Earnings\nIn millions, except per share amounts\nYears Ended December 31,\n2022 2021 2020\nNet sales $ 19,125.2 $ 12,357.4 $ 8,681.7\nCost of goods sold 13,369.4 9,157.1 7,616.8\nGross margin 5,755.8 3,200.3 1,064.9\nSelling, general and administrative expenses 498.0 430.5 371.5\nImpairment, restructuring and other expenses — 158.1 —\nOther operating expenses 472.5 143.2 280.5\nOperating earnings 4,785.3 2,468.5 412.9\nInterest expense, net (137.8) (169.1) (180.6)\nForeign currency transaction gain (loss) 97.5 (78.5) (64.3)\nOther (expense) income (102.5) 3.9 12.9\nEarnings from consolidated companies before income taxes 4,642.5 2,224.8 180.9\nProvision for (benefit from) income taxes 1,224.3 597.7 (578.5)\nEarnings from consolidated companies 3,418.2 1,627.1 759.4\nEquity in net earnings (loss) of nonconsolidated companies 196.0 7.8 (93.8)\nNet earnings including noncontrolling interests 3,614.2 1,634.9 665.6\nLess: Net earnings (loss) attributable to noncontrolling interests 31.4 4.3 (0.5)\nNet earnings attributable to Mosaic $ 3,582.8 $ 1,630.6 $ 666.1\nBasic net earnings per share attributable to Mosaic $ 10.17 $ 4.31 $ 1.76\nBasic weighted average number of shares outstanding 352.4 378.1 379.0\nDiluted net earnings per share attributable to Mosaic $ 10.06 $ 4.27 $ 1.75\nDiluted weighted average number of shares outstanding 356.0 381.6 381.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_revenue_growth",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 19125.2m, 12357.4m",
      "golden_context": "Page 40:\n\nConsolidated Statements of Earnings\nIn millions, except per share amounts\nYears Ended December 31,\n2022 2021 2020\nNet sales $ 19,125.2 $ 12,357.4 $ 8,681.7\nCost of goods sold 13,369.4 9,157.1 7,616.8\nGross margin 5,755.8 3,200.3 1,064.9\nSelling, general and administrative expenses 498.0 430.5 371.5\nImpairment, restructuring and other expenses — 158.1 —\nOther operating expenses 472.5 143.2 280.5\nOperating earnings 4,785.3 2,468.5 412.9\nInterest expense, net (137.8) (169.1) (180.6)\nForeign currency transaction gain (loss) 97.5 (78.5) (64.3)\nOther (expense) income (102.5) 3.9 12.9\nEarnings from consolidated companies before income taxes 4,642.5 2,224.8 180.9\nProvision for (benefit from) income taxes 1,224.3 597.7 (578.5)\nEarnings from consolidated companies 3,418.2 1,627.1 759.4\nEquity in net earnings (loss) of nonconsolidated companies 196.0 7.8 (93.8)\nNet earnings including noncontrolling interests 3,614.2 1,634.9 665.6\nLess: Net earnings (loss) attributable to noncontrolling interests 31.4 4.3 (0.5)\nNet earnings attributable to Mosaic $ 3,582.8 $ 1,630.6 $ 666.1\nBasic net earnings per share attributable to Mosaic $ 10.17 $ 4.31 $ 1.76\nBasic weighted average number of shares outstanding 352.4 378.1 379.0\nDiluted net earnings per share attributable to Mosaic $ 10.06 $ 4.27 $ 1.75\nDiluted weighted average number of shares outstanding 356.0 381.6 381.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000085_segments",
      "report_id": "ID_000085",
      "company_name": "Mosaic",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Phosphates, Potash, Mosaic Fertilizantes",
      "golden_context": "Page 6:\n\nWe are organized into the following business segments:\n• Our Phosphates business segment owns and operates mines and production facilities in Florida, which produce\nconcentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in\nLouisiana, which produce concentrated phosphate crop nutrients for sale domestically and internationally. We have\na 75% economic interest in the Miski Mayo Phosphate Mine (“Miski Mayo Mine”) in Peru. These results are\nconsolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma’aden\nWa’ad Al Shamal Phosphate Company (“MWSPC”), a joint venture to develop, own and operate integrated\nphosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC\nphosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter\nreporting lag in our Consolidated Statements of Earnings.\n• Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S.\nwhich produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include\ndomestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of\nCanadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.\n• Our Mosaic Fertilizantes business segment includes five phosphate rock mines, four phosphate chemical plants and\na potash mine in Brazil. The segment also includes our distribution business in South America, which consists of\nsales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay.\nWe also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant\nand a deep-water port and throughput warehouse terminal facility in Brazil.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_cash_flow",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities 2407.2m, investing activities -1317.2m, financing acitivites -1480.5m",
      "golden_context": "Page 21:\n\nSummary of Cash Flows\nThe following table represents a comparison of the net cash provided by operating activities, net cash used in investing\nactivities and net cash used in financing activities for calendar years 2023, 2022 and 2021:\nCash Flow Years Ended December 31,\n(in millions) 2023-2022 2022-2021\n2023 2022 2021 Change Percent Change Percent\nNet cash provided by operating\nactivities $ 2,407.2 $ 3,935.8 $ 2,187.0 $ (1,528.6) (39) % $ 1,748.8 80 %\nNet cash used in investing\nactivities (1,317.2) (1,259.6) (1,322.3) (57.6) (5) % 62.7 5 %\nNet cash used in financing\nactivities (1,480.5) (2,678.7) (682.1) 1,198.2 45 % (1,996.6) (293) %\nOperating Activities\nIn 2023, net cash flow from operating activities provided us with a significant source of liquidity. For the year ended\nDecember 31, 2023, net cash provided by operating activities was $2.4 billion, compared to $3.9 billion in the prior year. Our\nresults of operations, after non-cash adjustments to net earnings, contributed $2.0 billion to cash flows from operating\nactivities during 2023, compared to $4.9 billion during 2022. During 2023, we had a favorable change in assets and liabilities\nof $401.7 million, compared to an unfavorable change of $992.5 million during 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_company_type",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Not given",
      "golden_context": "No context given as no company type is provided in the annual report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_key_financials",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "1.2bn net income, EBITDA 2.8bn",
      "golden_context": "Page 3:\n\nOur momentum increased in 2023. Despite generally\nlower fertilizer prices, Mosaic produced net income of\n$1.2 billion and adjusted EBITDA of $2.8 billion and returned\n$1.1 billion to shareholders through share repurchases\nand dividends",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_revenue",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 13696.1m",
      "golden_context": "Page 39:\n\nConsolidated Statements of Earnings\nIn millions, except per share amounts\nYears Ended December 31,\n2023 2022 2021\nNet sales $ 13,696.1 $ 19,125.2 $ 12,357.4\nCost of goods sold 11,485.5 13,369.4 9,157.1\nGross margin 2,210.6 5,755.8 3,200.3\nSelling, general and administrative expenses 500.5 498.0 430.5\nImpairment, restructuring and other expenses — — 158.1\nOther operating expenses 372.0 472.5 143.2\nOperating earnings 1,338.1 4,785.3 2,468.5\nInterest expense, net (129.4) (137.8) (169.1)\nForeign currency transaction gain (loss) 194.0 97.5 (78.5)\nOther (expense) income (76.8) (102.5) 3.9\nEarnings from consolidated companies before income taxes 1,325.9 4,642.5 2,224.8\nProvision for income taxes 177.0 1,224.3 597.7\nEarnings from consolidated companies 1,148.9 3,418.2 1,627.1\nEquity in net earnings of nonconsolidated companies 60.3 196.0 7.8\nNet earnings including noncontrolling interests 1,209.2 3,614.2 1,634.9\nLess: Net earnings attributable to noncontrolling interests 44.3 31.4 4.3\nNet earnings attributable to Mosaic $ 1,164.9 $ 3,582.8 $ 1,630.6\nBasic net earnings per share attributable to Mosaic $ 3.52 $ 10.17 $ 4.31\nBasic weighted average number of shares outstanding 331.3 352.4 378.1\nDiluted net earnings per share attributable to Mosaic $ 3.50 $ 10.06 $ 4.27\nDiluted weighted average number of shares outstanding 333.2 356.0 381.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_revenue_growth",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 13696.1m, Prior year 19125.2m",
      "golden_context": "Page 39:\n\nConsolidated Statements of Earnings\nIn millions, except per share amounts\nYears Ended December 31,\n2023 2022 2021\nNet sales $ 13,696.1 $ 19,125.2 $ 12,357.4\nCost of goods sold 11,485.5 13,369.4 9,157.1\nGross margin 2,210.6 5,755.8 3,200.3\nSelling, general and administrative expenses 500.5 498.0 430.5\nImpairment, restructuring and other expenses — — 158.1\nOther operating expenses 372.0 472.5 143.2\nOperating earnings 1,338.1 4,785.3 2,468.5\nInterest expense, net (129.4) (137.8) (169.1)\nForeign currency transaction gain (loss) 194.0 97.5 (78.5)\nOther (expense) income (76.8) (102.5) 3.9\nEarnings from consolidated companies before income taxes 1,325.9 4,642.5 2,224.8\nProvision for income taxes 177.0 1,224.3 597.7\nEarnings from consolidated companies 1,148.9 3,418.2 1,627.1\nEquity in net earnings of nonconsolidated companies 60.3 196.0 7.8\nNet earnings including noncontrolling interests 1,209.2 3,614.2 1,634.9\nLess: Net earnings attributable to noncontrolling interests 44.3 31.4 4.3\nNet earnings attributable to Mosaic $ 1,164.9 $ 3,582.8 $ 1,630.6\nBasic net earnings per share attributable to Mosaic $ 3.52 $ 10.17 $ 4.31\nBasic weighted average number of shares outstanding 331.3 352.4 378.1\nDiluted net earnings per share attributable to Mosaic $ 3.50 $ 10.06 $ 4.27\nDiluted weighted average number of shares outstanding 333.2 356.0 381.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000086_segments",
      "report_id": "ID_000086",
      "company_name": "Mosaic",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Phosphates, Potash, Mosaic Fertilizantes",
      "golden_context": "Page 6:\n\nWe are organized into the following business segments:\n• Our Phosphates business segment owns and operates mines and production facilities in Florida, which produce\nconcentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in\nLouisiana, which produce concentrated phosphate crop nutrients for sale domestically and internationally. We have\na 75% economic interest in the Miski Mayo Phosphate Mine (“Miski Mayo Mine”) in Peru. These results are\nconsolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma’aden\nWa’ad Al Shamal Phosphate Company (“MWSPC”), a joint venture to develop, own and operate integrated\nphosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC\nphosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter\nreporting lag in our Consolidated Statements of Earnings.\n• Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S.\nwhich produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include\ndomestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of\nCanadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.\n• Our Mosaic Fertilizantes business segment includes five phosphate rock mines, four phosphate chemical plants and\na potash mine in Brazil. The segment also includes our distribution business in South America, which consists of\nsales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay.\nWe also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant\nand a deep-water port and throughput warehouse terminal facility in Brazil.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_cash_flow",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "1373m operating, 1543m investing, -2814m financing activities",
      "golden_context": "Page 56:\n\niquidity and Capital Resources\nCash Flows – Summary\nOur cash flows consisted of the following:\nYear Ended December 31,\n2021 2020 2019\n(In thousands)\nNet cash provided by (used in) operating activities $ 1,373,423 $ (1,493,043) $ 1,810,401\nNet cash provided by investing activities 1,543,645 2,159,304 3,519,434\nNet cash provided by (used in) financing activities (2,814,095) 2,103,427 (4,529,594)\n50\nCash Flows\nOperating activities. Trends in our operating cash flows tend to follow trends in operating income, excluding non-\ncash charges, but can be affected by changes in working capital, the timing of significant interest payments, tax payments\nor refunds, and distributions from unconsolidated affiliates. Cash provided by operating activities was $1.4 billion in 2021\ncompared to cash used in operating activities of $1.5 billion in 2020. The change from the prior year was due primarily to\nthe increase in Adjusted Property EBITDAR discussed within the results of operations section above, and due to the prior\nyear being negatively affected by a change in working capital related to gaming and non-gaming deposits, gaming taxes\nand other gaming liabilities, and payroll related liabilities as a result of the COVID-19 pandemic, partially offset by an\nincrease in triple-net lease rent payments and cash paid for interest and taxes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_company_type",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Delaware corporation",
      "golden_context": "Page 7:\n\nOverview\nMGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company\nand, through subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts across the United States\nand in Macau.\nWe believe we operate several of the finest casino resorts in the world and we continually reinvest in our resorts to\nmaintain our competitive advantage. We make significant investments in our resorts through newly remodeled hotel rooms,\nrestaurants, entertainment and nightlife offerings, as well as other new features and amenities. We believe we operate the\nhighest quality resorts in each of the markets in which we operate. Ensuring our resorts are the premier resorts in their\nrespective markets requires capital investments to maintain the best possible experiences for our guests.\nMGM Growth Properties LLC (“MGP”), is a consolidated subsidiary of the Company. Substantially all of its assets\nare owned by and substantially all of its businesses are conducted through its subsidiary MGM Growth Properties\nOperating Partnership LP (the “Operating Partnership”). As of December 31, 2021, we lease the real estate assets of The\nMirage, Luxor, New York-New York, Park MGM, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit, Beau\nRivage, Borgata, Empire City, MGM National Harbor, MGM Nort",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_key_financials",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Basic EPS 2.44\nDiluted EPS 2.41",
      "golden_context": "Page 69:\n\nMGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenues\nCasino $ 5,362,912 $ 2,871,720 $ 6,517,759\nRooms 1,690,037 830,382 2,322,579\nFood and beverage 1,391,605 696,040 2,145,247\nEntertainment, retail and other 1,009,503 518,991 1,477,200\nReimbursed costs 226,083 244,949 436,887\n9,680,140 5,162,082 12,899,672\nExpenses\nCasino 2,551,169 1,701,783 3,623,899\nRooms 600,942 419,156 829,677\nFood and beverage 1,034,780 674,118 1,661,626\nEntertainment, retail and other 617,635 412,705 1,051,400\nReimbursed costs 226,083 244,949 436,887\nGeneral and administrative 2,507,239 2,122,333 2,101,217\nCorporate expense 422,777 460,148 464,642\nPreopening and start-up expenses 5,094 84 7,175\nProperty transactions, net (67,736) 93,567 275,802\nGain on REIT transactions, net — (1,491,945) (2,677,996)\nGain on consolidation of CityCenter, net (1,562,329) — —\nDepreciation and amortization 1,150,610 1,210,556 1,304,649\n7,486,264 5,847,454 9,078,978\nIncome from unconsolidated affiliates 84,823 42,938 119,521\nOperating income (loss) 2,278,699 (642,434) 3,940,215\nNon-operating income (expense)\nInterest expense, net of amounts capitalized (799,593) (676,380) (847,932)\nNon-operating items from unconsolidated affiliates (83,243) (103,304) (62,296)\nOther, net 65,941 (89,361) (183,262)\n(816,895) (869,045) (1,093,490)\nIncome (loss) before income taxes 1,461,804 (1,511,479) 2,846,725\nBenefit (provision) for income taxes (253,415) 191,572 (632,345)\nNet income (loss) 1,208,389 (1,319,907) 2,214,380\nLess: Net (income) loss attributable to noncontrolling interests 45,981 287,183 (165,234)\nNet income (loss) attributable to MGM Resorts International $ 1,254,370 $ (1,032,724) $ 2,049,146\nEarnings (loss) per share\nBasic $ 2.44 $ (2.02) $ 3.90\nDiluted $ 2.41 $ (2.02) $ 3.88\nWeighted average common shares outstanding\nBasic 481,930 494,152 524,173\nDiluted 487,356 494,152 527,645",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_revenue",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenues 9680m",
      "golden_context": "Page 47:\n\nhe following table summarizes our operating results:\nYear Ended December 31,\n2021 2020 2019\n(In thousands)\nNet revenues $ 9,680,140 $ 5,162,082 $ 12,899,672\nOperating income (loss) 2,278,699 (642,434) 3,940,215\nNet income (loss) 1,208,389 (1,319,907) 2,214,380\nNet income (loss) attributable to MGM Resorts International 1,254,370 (1,032,724) 2,049,146",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_revenue_growth",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 9680m, prior year 5162m",
      "golden_context": "Page 47:\n\nhe following table summarizes our operating results:\nYear Ended December 31,\n2021 2020 2019\n(In thousands)\nNet revenues $ 9,680,140 $ 5,162,082 $ 12,899,672\nOperating income (loss) 2,278,699 (642,434) 3,940,215\nNet income (loss) 1,208,389 (1,319,907) 2,214,380\nNet income (loss) attributable to MGM Resorts International 1,254,370 (1,032,724) 2,049,146",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000087_segments",
      "report_id": "ID_000087",
      "company_name": "MGM Resorts International",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Las Vegas Strip Resorts, Regional Operations, and\nMGM China",
      "golden_context": "Page 10:\n\nce to third-party retail and food and beverage operators, particularly for branding opportunities.\nAs of December 31, 2021, we have three reportable segments: Las Vegas Strip Resorts, Regional Operations, and\nMGM China, as generally described below. See Note 17 for detailed financial information about our reportable segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_cash_flow",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow operating: 2.7bn, cash flow financing: -5bn, cash flow investing: -714m. Net cash change for the period: -3bn.",
      "golden_context": "MGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\nYear Ended December 31,\n2023 2022 2021\nCash flows from operating activities\nNet income $ 1,314,924 $ 206,731 $ 1,208,389\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 814,128 3,482,050 1,150,610\nAmortization of debt discounts, premiums and issuance costs 27,844 32,769 40,328\nLoss on early retirement of debt — — 37\nProvision for credit losses 48,984 22,738 21,852\nStock-based compensation 73,607 71,296 65,183\nProperty transactions, net (370,513) (1,036,997) (67,736)\nForeign currency transaction loss 106,428 19,081 12,551\nGain on REIT transactions, net — (2,277,747) —\nGain on consolidation of CityCenter, net — — (1,562,329)\nNoncash lease expense 516,120 437,603 188,917\nOther investment losses (gains) 1,112 (12,430) (28,417)\nLoss (income) from unconsolidated affiliates 63,136 183,670 (1,580)\nDistributions from unconsolidated affiliates 20,121 37,435 99,370\nDeferred income taxes (117,278) 496,189 241,947\nChange in operating assets and liabilities:\nAccounts receivable (132,288) (211,687) (236,182)\nInventories (15,524) (26,627) 3,107\nIncome taxes receivable and payable, net (58,493) 197,097 (30,444)\nPrepaid expenses and other (50,875) (14,424) (36,608)\nAccounts payable and accrued liabilities 410,131 183,839 442,626\nOther 39,213 (34,124) (138,198)\nNet cash provided by operating activities 2,690,777 1,756,462 1,373,423\nCash flows from investing activities\nCapital expenditures (931,813) (765,067) (490,697)\nDispositions of property and equipment 5,431 112,019 106,600\nProceeds from sale of operating resorts 460,392 1,054,313 —\nProceeds from repayment of principal on note receivable 152,518 — —\nProceeds from real estate transactions — 4,373,820 3,888,431\nAcquisitions, net of cash acquired (122,058) (1,889,118) (1,789,604)\nInvestments in unconsolidated affiliates (161,040) (254,786) (226,889)\nDistributions from unconsolidated affiliates 8,342 10,361 9,694\nInvestments and other (125,947) (523,361) 46,110\nNet cash provided by (used in) investing activities (714,175) 2,118,181 1,543,645\nCash flows from financing activities\nNet borrowings (repayments) under bank credit facilities – maturities of 90 days or\nless (1,097,306) 1,148,276 (2,096,217)\nIssuance of long-term debt — — 749,775\nRepayment of long-term debt (1,285,600) (1,070,340) —\nDebt issuance costs (21,535) (1,367) (18,726)\nIssuance of MGM Growth Properties Class A shares, net — — 792,851\nDividends paid to common shareholders — (4,048) (4,789)\nDistributions to noncontrolling interest owners (177,093) (210,699) (324,190)\nRepurchases of common stock (2,291,917) (2,775,217) (1,753,509)\nOther (131,180) (110,907) (159,290)\nNet cash used in financing activities (5,004,631) (3,024,302) (2,814,095)\nEffect of exchange rate on cash, cash equivalents, and restricted cash (19,401) 8,926 (1,551)\nChange in cash and cash equivalents classified as assets held for sale 25,938 (25,938) —\nCash, cash equivalents, and restricted cash\nNet change for the period (3,021,492) 833,329 101,422\nBalance, beginning of period 6,036,388 5,203,059 5,101,637\nBalance, end of period $ 3,014,896 $ 6,036,388 $ 5,203,059\n, , , , , ,\nSupplemental cash flow disclosures\nInterest paid, net of amounts capitalized $ 452,160 $ 573,629 $ 705,680\nFederal, state and foreign income taxes paid, net 344,397 22,955 43,018\nNon-cash financing activities\nMGM Grand Paradise gaming concession intangible asset $ 226,083 $ — $ —\nMGM Grand Paradise gaming concession long-term obligation 226,083 — —\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_company_type",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Delaware corporation",
      "golden_context": "MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company\nand, through subsidiaries, is a global gaming and entertainment company with domestic and international locations\nfeaturing best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical\nentertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, and sports betting and online\ngaming operation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_key_financials",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 2023: 16bn, operating income 1.9bn, net income 1.3bn.",
      "golden_context": "Results of Operations\nSummary Operating Results\nThe following table summarizes our operating results:\nYear Ended December 31,\n2023 2022 2021\n(In thousands)\nNet revenues $ 16,164,249 $ 13,127,485 $ 9,680,140\nOperating income 1,891,497 1,439,372 2,278,699\nNet income 1,314,924 206,731 1,208,389\nNet income attributable to MGM Resorts International 1,142,180 1,473,093 1,254,370\n\nConsolidated net revenues increased 23% in 2023 compared to 2022 due primarily to MGM China increasing 368%\nand our Las Vegas Strip Resorts increasing 5%, partially offset by Regional Operations decreasing 4%, compared to 2022,\nas discussed below.\nConsolidated operating income increased 31% in 2023 compared to 2022. The increase was due primarily to the\nincrease in net revenues, discussed above, a $2.7 billion decrease in depreciation and amortization expense, and a $399\nmillion gain in the current year period related to the sale of the operations of Gold Strike Tunica recorded in property\ntransactions, net, partially offset by a $2.3 billion gain related to the VICI Transaction and a $1.1 billion gain on the sale of\nthe operations of The Mirage recorded in property transactions, net in 2022, as well as a current year increase in rent\nexpense recorded within general and administrative expense primarily related to the VICI and The Cosmopolitan leases,\nwhich commenced in April 2022 and May 2022, respectively. Depreciation and amortization expense decreased compared\nto 2022 primarily due to $2.5 billion of amortization in 2022 related to the MGM Grand Paradise gaming subconcession,\nwhich became fully amortized in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_revenue",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenues 16bn",
      "golden_context": "Results of Operations\nSummary Operating Results\nThe following table summarizes our operating results:\nYear Ended December 31,\n2023 2022 2021\n(In thousands)\nNet revenues $ 16,164,249 $ 13,127,485 $ 9,680,140\nOperating income 1,891,497 1,439,372 2,278,699\nNet income 1,314,924 206,731 1,208,389\nNet income attributable to MGM Resorts International 1,142,180 1,473,093 1,254,370\n\nConsolidated net revenues increased 23% in 2023 compared to 2022 due primarily to MGM China increasing 368%\nand our Las Vegas Strip Resorts increasing 5%, partially offset by Regional Operations decreasing 4%, compared to 2022,\nas discussed below.\nConsolidated operating income increased 31% in 2023 compared to 2022. The increase was due primarily to the\nincrease in net revenues, discussed above, a $2.7 billion decrease in depreciation and amortization expense, and a $399\nmillion gain in the current year period related to the sale of the operations of Gold Strike Tunica recorded in property\ntransactions, net, partially offset by a $2.3 billion gain related to the VICI Transaction and a $1.1 billion gain on the sale of\nthe operations of The Mirage recorded in property transactions, net in 2022, as well as a current year increase in rent\nexpense recorded within general and administrative expense primarily related to the VICI and The Cosmopolitan leases,\nwhich commenced in April 2022 and May 2022, respectively. Depreciation and amortization expense decreased compared\nto 2022 primarily due to $2.5 billion of amortization in 2022 related to the MGM Grand Paradise gaming subconcession,\nwhich became fully amortized in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_revenue_growth",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "23% growth compared to 2022",
      "golden_context": "Results of Operations\nSummary Operating Results\nThe following table summarizes our operating results:\nYear Ended December 31,\n2023 2022 2021\n(In thousands)\nNet revenues $ 16,164,249 $ 13,127,485 $ 9,680,140\nOperating income 1,891,497 1,439,372 2,278,699\nNet income 1,314,924 206,731 1,208,389\nNet income attributable to MGM Resorts International 1,142,180 1,473,093 1,254,370\n\nConsolidated net revenues increased 23% in 2023 compared to 2022 due primarily to MGM China increasing 368%\nand our Las Vegas Strip Resorts increasing 5%, partially offset by Regional Operations decreasing 4%, compared to 2022,\nas discussed below.\nConsolidated operating income increased 31% in 2023 compared to 2022. The increase was due primarily to the\nincrease in net revenues, discussed above, a $2.7 billion decrease in depreciation and amortization expense, and a $399\nmillion gain in the current year period related to the sale of the operations of Gold Strike Tunica recorded in property\ntransactions, net, partially offset by a $2.3 billion gain related to the VICI Transaction and a $1.1 billion gain on the sale of\nthe operations of The Mirage recorded in property transactions, net in 2022, as well as a current year increase in rent\nexpense recorded within general and administrative expense primarily related to the VICI and The Cosmopolitan leases,\nwhich commenced in April 2022 and May 2022, respectively. Depreciation and amortization expense decreased compared\nto 2022 primarily due to $2.5 billion of amortization in 2022 related to the MGM Grand Paradise gaming subconcession,\nwhich became fully amortized in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000089_segments",
      "report_id": "ID_000089",
      "company_name": "MGM Resorts International",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Las Vegas Strip Resorts, Regional Operations, and MGM China",
      "golden_context": " and beverage operators, particularly for branding opportunities.\nAs of December 31, 2023, we have three reportable segments: Las Vegas Strip Resorts, Regional Operations, and\nMGM China, as generally described below. See Note 17 for detailed financial information about our reportable segments.\nLas Vegas Strip Resorts and Regional Operations\nLas Vegas Strip Resorts. Las Vegas Strip Resorts consists of the following casino resorts: Aria (including Vdara)\n(upon its acquisition in September 2021), Bellagio, The Cosmopolitan of Las Vegas (“The Cosmopolitan”) (upon its\nacquisition in May 2022), MGM Grand Las Vegas (including The Signature), Mandalay Bay (including Delano and Four\nSeasons), The Mirage (until its disposition in December 2022), Luxor, New York-New York (including The Park),\nExcalibur, and Park MGM (including NoMad Las Vegas).\nRegional Operations. Regional Operations consists of the following casino properties: MGM Grand Detroit in\nDetroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi (until its disposition in\nFebruary 2023); Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland;\nMGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York; and MGM Northfield Park in\nNorthfield Park, Ohio.\nOver half of the net revenue from our Las Vegas Strip Resorts is typically derived from non-gaming operations,\nincluding hotel, food and beverage, entertainment and other non-gaming amenities and the majority of the net revenue from\nour Regional Operations is typically derived from gaming operations. Our long-term strategy continues to be to market to\ndifferent customers and utilize our significant convention and meeting facilities to allow us to maximize hotel occupancy\nand customer volumes, which also leads to better labor utilization. Our operating results are highly dependent on the\nvolume of customers at our properties, which in turn affects the price we can charge for our hotel rooms and other\namenities.\nOur casino operations feature a variety of slots and table games. In addition, we provide our premium players access\nto high-limit rooms and lounge experiences where players may enjoy an upscale atmosphere.\nMGM China\nWe own approximately 56% of MGM China, which owns MGM Grand Paradise, the Macau company that owns\nand operates the MGM Macau and MGM Cotai casino resorts and holds the related gaming concession and land\nconcessions. We believe our ownership interest in MGM China plays an important role in extending our reach\ninternationally and will foster future growth and profitability. Although visitation during 2021 and 2022 was significantly\nreduced by the novel 2019 coronavirus (“COVID-19”) pandemic, visitation during 2023 rebounded, and we expect the\nlong-term future growth of the Asian gaming market to drive additional visitation at MGM Macau and MGM Cotai.\nOur current MGM China operations relate to MGM Macau and MGM Cotai, discussed further below. MGM\nChina’s revenues are generated primarily from gaming operations, which are conducted under a gaming concession held by\nMGM Grand Paradise, a subsidiary of MGM China. Gaming in Macau is currently administered by the Macau Government\nthrough concessions awarded to six different concessionaires.\nCorporate and Other\nWe have additional business activities including LeoVegas, our investments in unconsolidated affiliates, including\nBetMGM, and certain other corporate and management operations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_cash_flow",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow: 471m, investing cash flow: -660m, financing cash flow: -453m",
      "golden_context": "Energized by the sheer levels of demand that\nresulted in 573 commercial leases executed\nfor 2.9 million square feet of space in 2021\nraising our portfolio’s leased percentage to\n93.6%\n\nPage 39-40:\n\nSummary Financial Information\nThe following table includes select financial information that is helpful in understanding the trends in financial condition and\nthe results of operations discussed throughout this Item 7. and “Item 8. Financial Statements and Supplementary Data.”Year Ended December 31,\n2021 2020 2019\n(In thousands, except per share data and ratios)\nOperating Data:\nRental income Property operating income (1) Gain on sale of real estate and change in control of interest, net of tax Operating income Net income available for common shareholders Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities $ 948,842 $ 832,171 $ 932,738\n$ 634,607 $ 545,332 $ 637,030\n$ 89,950 $ 98,117 $ 116,393\n$ 394,725 $ 289,524 $ 470,911\n$ 253,456 $ 123,664 $ 345,824\n$ 471,352 $ 369,929 $ 461,919\n$ (660,118) $ (368,383) $ (316,532)\n$ (452,967) $ 661,736 $ (100,105)\nEarnings per common share, diluted:\nNet income available to common shareholders Dividends declared per common share $ 3.26 $ 1.62 $ 4.61\n$ 4.26 $ 4.22 $ 4.14\nOther Data:\nFunds from operations available to common shareholders (2) $ 434,743 $ 333,849 $ 465,819\nFunds from operations available for common shareholders, per diluted share (2) $ 5.57 $ 4.38 $ 6.17\nEBITDAre (3) $ 589,792 $ 501,813 $ 599,567\nRatio of EBITDAre to combined fixed charges and preferred share dividends\n(3)(4) 3.6x 2.7x 4.2x\nAs of December 31,\n2021 2020 2019\n(In thousands)\nBalance Sheet Data:\nReal estate, at cost Total assets Total debt Total shareholders’ equity Number of common shares outstanding $ 9,422,062 $ 8,582,870 $ 8,298,132\n$ 7,622,320 $ 7,607,624 $ 6,794,992\n$ 4,047,547 $ 4,291,375 $ 3,356,594\n$ 2,663,148 $ 2,548,747 $ 2,636,132\n78,603 76,727 75,541\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations and we\nconsider it to be a significant measure. Property operating income should not be considered an alternative measure of\noperating results or cash flow from operations as determined in accordance with GAAP. The reconciliation of operating\nincome to property operating income for 2021, 2020, and 2019 is as follows:\n\n2021 2020 2019\n(in thousands)\n$ 634,607 $ 545,332 $ 637,030\nOperating income $ 394,725 $ 289,524 $ 470,911\nGeneral and administrative 49,856 41,680 42,754\nDepreciation and amortization 279,976 255,027 239,758\nImpairment charge — 57,218 —\nGain on sale of real estate and change in control of interest, net of tax (89,950) (98,117) (116,393)\nProperty operating income (2) Funds from operations \"FFO\" is a supplemental non-GAAP measure. See \"Liquidity and Capital Resources\" in this Item 7.\nfor further discussion.\n(3) EBITDA for Real Estate (\"EBITDAre\") is a non-GAAP measure that NAREIT defines as: net income computed in\naccordance with GAAP plus net interest expense, income tax expense, depreciation and amortization, gain or loss on sale\nof real estate, impairments of real estate, and adjustments to reflect the entity's share of EBITDAre of unconsolidated\n\naffiliates. We calculate EBITDAre consistent with the NAREIT definition. As EBITDA is a widely known and understood\nmeasure of performance, management believes EBITDAre represents an additional non-GAAP performance measure,\nindependent of a company's capital structure that will provide investors with a uniform basis to measure the enterprise\nvalue of a company. EBITDAre also approximates a key performance measure in our debt covenants, but it should not be\nconsidered an alternative measure of operating results or cash flow from operations as determined in accordance with\nGAAP.\nThe reconciliation of net income to EBITDAre for the periods presented is as follows:\n2021 2020 2019\n(In thousands)\nNet income $ 269,081 $ 135,888 $ 360,542\nInterest expense 127,698 136,289 109,623\nOther interest income (809) (1,894) (1,266)\nEarly extinguishment of debt — 11,179 —\nProvision (benefit) for income tax 118 (194) 772\nDepreciation and amortization 279,976 255,027 239,758\nGain on sale of real estate and change in control of interest (89,950) (98,117) (116,779)\nImpairment charge — 57,218 —\nAdjustments of EBITDAre of unconsolidated affiliates 3,678 6,417 6,917\nEBITDAre $ 589,792 $ 501,813 $ 599,567\n(4) Fixed charges consist of interest on borrowed funds (including capitalized interest), amortization of debt discount/\npremiums and debt costs, costs related to the early extinguishment of debt, and the portion of rent expense representing an\ninterest factor. Excluding the $11.2 million early extinguishment of debt charge from fixed charges in 2020, the ratio of\nEBITDAre to combined fixed charges and preferred share dividends is 2.9x. Excluding the $11.9 million charge related to\nthe buyout of the Kmart lease at Assembly Square Marketplace in 2019, our ratio of EBITDAre to combined fixed charges\nand preferred share dividends remained 4.2x.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_company_type",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "LP",
      "golden_context": "UNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO THE SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-07533 (Federal Realty Investment Trust)\nCommission file number: 333-262016-01 (Federal Realty OP LP)\nFEDERAL REALTY INVESTMENT TRUST\nFEDERAL REALTY OP LP\n(Exact Name of Registrant as Specified in its charter)\nMaryland (Federal Realty Investment Trust) Delaware (Federal Realty OP LP) (State of Organization) 87-3916363\n52-0782497\n(IRS Employer Identification No.)\n909 Rose Avenue, Suite 200, North Bethesda, Maryland 20852\n(Address of Principal Executive Offices) (Zip Code)\n(301) 998-8100\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Shares of Beneficial Interest $.01 par value per share, with associated Common Share\nPurchase Rights\nDepositary Shares, each representing 1/1000 of a share of 5.00% Series C Cumulative Redeemable Preferred\nStock, $.01 par value per share\nFederal Realty Investment Trust\nTrading Symbol FRT FRT-C Name of Each Exc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_key_financials",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "93.6% leased percentage.\n\n949m rental income.\n\n2.7bn total shareholders' equity.",
      "golden_context": "Energized by the sheer levels of demand that\nresulted in 573 commercial leases executed\nfor 2.9 million square feet of space in 2021\nraising our portfolio’s leased percentage to\n93.6%\n\nPage 39-40:\n\nSummary Financial Information\nThe following table includes select financial information that is helpful in understanding the trends in financial condition and\nthe results of operations discussed throughout this Item 7. and “Item 8. Financial Statements and Supplementary Data.”Year Ended December 31,\n2021 2020 2019\n(In thousands, except per share data and ratios)\nOperating Data:\nRental income Property operating income (1) Gain on sale of real estate and change in control of interest, net of tax Operating income Net income available for common shareholders Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities $ 948,842 $ 832,171 $ 932,738\n$ 634,607 $ 545,332 $ 637,030\n$ 89,950 $ 98,117 $ 116,393\n$ 394,725 $ 289,524 $ 470,911\n$ 253,456 $ 123,664 $ 345,824\n$ 471,352 $ 369,929 $ 461,919\n$ (660,118) $ (368,383) $ (316,532)\n$ (452,967) $ 661,736 $ (100,105)\nEarnings per common share, diluted:\nNet income available to common shareholders Dividends declared per common share $ 3.26 $ 1.62 $ 4.61\n$ 4.26 $ 4.22 $ 4.14\nOther Data:\nFunds from operations available to common shareholders (2) $ 434,743 $ 333,849 $ 465,819\nFunds from operations available for common shareholders, per diluted share (2) $ 5.57 $ 4.38 $ 6.17\nEBITDAre (3) $ 589,792 $ 501,813 $ 599,567\nRatio of EBITDAre to combined fixed charges and preferred share dividends\n(3)(4) 3.6x 2.7x 4.2x\nAs of December 31,\n2021 2020 2019\n(In thousands)\nBalance Sheet Data:\nReal estate, at cost Total assets Total debt Total shareholders’ equity Number of common shares outstanding $ 9,422,062 $ 8,582,870 $ 8,298,132\n$ 7,622,320 $ 7,607,624 $ 6,794,992\n$ 4,047,547 $ 4,291,375 $ 3,356,594\n$ 2,663,148 $ 2,548,747 $ 2,636,132\n78,603 76,727 75,541\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations and we\nconsider it to be a significant measure. Property operating income should not be considered an alternative measure of\noperating results or cash flow from operations as determined in accordance with GAAP. The reconciliation of operating\nincome to property operating income for 2021, 2020, and 2019 is as follows:\n\n2021 2020 2019\n(in thousands)\n$ 634,607 $ 545,332 $ 637,030\nOperating income $ 394,725 $ 289,524 $ 470,911\nGeneral and administrative 49,856 41,680 42,754\nDepreciation and amortization 279,976 255,027 239,758\nImpairment charge — 57,218 —\nGain on sale of real estate and change in control of interest, net of tax (89,950) (98,117) (116,393)\nProperty operating income (2) Funds from operations \"FFO\" is a supplemental non-GAAP measure. See \"Liquidity and Capital Resources\" in this Item 7.\nfor further discussion.\n(3) EBITDA for Real Estate (\"EBITDAre\") is a non-GAAP measure that NAREIT defines as: net income computed in\naccordance with GAAP plus net interest expense, income tax expense, depreciation and amortization, gain or loss on sale\nof real estate, impairments of real estate, and adjustments to reflect the entity's share of EBITDAre of unconsolidated\n\naffiliates. We calculate EBITDAre consistent with the NAREIT definition. As EBITDA is a widely known and understood\nmeasure of performance, management believes EBITDAre represents an additional non-GAAP performance measure,\nindependent of a company's capital structure that will provide investors with a uniform basis to measure the enterprise\nvalue of a company. EBITDAre also approximates a key performance measure in our debt covenants, but it should not be\nconsidered an alternative measure of operating results or cash flow from operations as determined in accordance with\nGAAP.\nThe reconciliation of net income to EBITDAre for the periods presented is as follows:\n2021 2020 2019\n(In thousands)\nNet income $ 269,081 $ 135,888 $ 360,542\nInterest expense 127,698 136,289 109,623\nOther interest income (809) (1,894) (1,266)\nEarly extinguishment of debt — 11,179 —\nProvision (benefit) for income tax 118 (194) 772\nDepreciation and amortization 279,976 255,027 239,758\nGain on sale of real estate and change in control of interest (89,950) (98,117) (116,779)\nImpairment charge — 57,218 —\nAdjustments of EBITDAre of unconsolidated affiliates 3,678 6,417 6,917\nEBITDAre $ 589,792 $ 501,813 $ 599,567\n(4) Fixed charges consist of interest on borrowed funds (including capitalized interest), amortization of debt discount/\npremiums and debt costs, costs related to the early extinguishment of debt, and the portion of rent expense representing an\ninterest factor. Excluding the $11.2 million early extinguishment of debt charge from fixed charges in 2020, the ratio of\nEBITDAre to combined fixed charges and preferred share dividends is 2.9x. Excluding the $11.9 million charge related to\nthe buyout of the Kmart lease at Assembly Square Marketplace in 2019, our ratio of EBITDAre to combined fixed charges\nand preferred share dividends remained 4.2x.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_revenue",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "949m rental income, 635m property operating income",
      "golden_context": "Energized by the sheer levels of demand that\nresulted in 573 commercial leases executed\nfor 2.9 million square feet of space in 2021\nraising our portfolio’s leased percentage to\n93.6%\n\nPage 39-40:\n\nSummary Financial Information\nThe following table includes select financial information that is helpful in understanding the trends in financial condition and\nthe results of operations discussed throughout this Item 7. and “Item 8. Financial Statements and Supplementary Data.”Year Ended December 31,\n2021 2020 2019\n(In thousands, except per share data and ratios)\nOperating Data:\nRental income Property operating income (1) Gain on sale of real estate and change in control of interest, net of tax Operating income Net income available for common shareholders Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities $ 948,842 $ 832,171 $ 932,738\n$ 634,607 $ 545,332 $ 637,030\n$ 89,950 $ 98,117 $ 116,393\n$ 394,725 $ 289,524 $ 470,911\n$ 253,456 $ 123,664 $ 345,824\n$ 471,352 $ 369,929 $ 461,919\n$ (660,118) $ (368,383) $ (316,532)\n$ (452,967) $ 661,736 $ (100,105)\nEarnings per common share, diluted:\nNet income available to common shareholders Dividends declared per common share $ 3.26 $ 1.62 $ 4.61\n$ 4.26 $ 4.22 $ 4.14\nOther Data:\nFunds from operations available to common shareholders (2) $ 434,743 $ 333,849 $ 465,819\nFunds from operations available for common shareholders, per diluted share (2) $ 5.57 $ 4.38 $ 6.17\nEBITDAre (3) $ 589,792 $ 501,813 $ 599,567\nRatio of EBITDAre to combined fixed charges and preferred share dividends\n(3)(4) 3.6x 2.7x 4.2x\nAs of December 31,\n2021 2020 2019\n(In thousands)\nBalance Sheet Data:\nReal estate, at cost Total assets Total debt Total shareholders’ equity Number of common shares outstanding $ 9,422,062 $ 8,582,870 $ 8,298,132\n$ 7,622,320 $ 7,607,624 $ 6,794,992\n$ 4,047,547 $ 4,291,375 $ 3,356,594\n$ 2,663,148 $ 2,548,747 $ 2,636,132\n78,603 76,727 75,541\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations and we\nconsider it to be a significant measure. Property operating income should not be considered an alternative measure of\noperating results or cash flow from operations as determined in accordance with GAAP. The reconciliation of operating\nincome to property operating income for 2021, 2020, and 2019 is as follows:\n\n2021 2020 2019\n(in thousands)\n$ 634,607 $ 545,332 $ 637,030\nOperating income $ 394,725 $ 289,524 $ 470,911\nGeneral and administrative 49,856 41,680 42,754\nDepreciation and amortization 279,976 255,027 239,758\nImpairment charge — 57,218 —\nGain on sale of real estate and change in control of interest, net of tax (89,950) (98,117) (116,393)\nProperty operating income (2) Funds from operations \"FFO\" is a supplemental non-GAAP measure. See \"Liquidity and Capital Resources\" in this Item 7.\nfor further discussion.\n(3) EBITDA for Real Estate (\"EBITDAre\") is a non-GAAP measure that NAREIT defines as: net income computed in\naccordance with GAAP plus net interest expense, income tax expense, depreciation and amortization, gain or loss on sale\nof real estate, impairments of real estate, and adjustments to reflect the entity's share of EBITDAre of unconsolidated\n\naffiliates. We calculate EBITDAre consistent with the NAREIT definition. As EBITDA is a widely known and understood\nmeasure of performance, management believes EBITDAre represents an additional non-GAAP performance measure,\nindependent of a company's capital structure that will provide investors with a uniform basis to measure the enterprise\nvalue of a company. EBITDAre also approximates a key performance measure in our debt covenants, but it should not be\nconsidered an alternative measure of operating results or cash flow from operations as determined in accordance with\nGAAP.\nThe reconciliation of net income to EBITDAre for the periods presented is as follows:\n2021 2020 2019\n(In thousands)\nNet income $ 269,081 $ 135,888 $ 360,542\nInterest expense 127,698 136,289 109,623\nOther interest income (809) (1,894) (1,266)\nEarly extinguishment of debt — 11,179 —\nProvision (benefit) for income tax 118 (194) 772\nDepreciation and amortization 279,976 255,027 239,758\nGain on sale of real estate and change in control of interest (89,950) (98,117) (116,779)\nImpairment charge — 57,218 —\nAdjustments of EBITDAre of unconsolidated affiliates 3,678 6,417 6,917\nEBITDAre $ 589,792 $ 501,813 $ 599,567\n(4) Fixed charges consist of interest on borrowed funds (including capitalized interest), amortization of debt discount/\npremiums and debt costs, costs related to the early extinguishment of debt, and the portion of rent expense representing an\ninterest factor. Excluding the $11.2 million early extinguishment of debt charge from fixed charges in 2020, the ratio of\nEBITDAre to combined fixed charges and preferred share dividends is 2.9x. Excluding the $11.9 million charge related to\nthe buyout of the Kmart lease at Assembly Square Marketplace in 2019, our ratio of EBITDAre to combined fixed charges\nand preferred share dividends remained 4.2x.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_revenue_growth",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "949m rental income, 635m property operating income\nPrior year (2020): 832m rental income, 545m property operating income",
      "golden_context": "Energized by the sheer levels of demand that\nresulted in 573 commercial leases executed\nfor 2.9 million square feet of space in 2021\nraising our portfolio’s leased percentage to\n93.6%\n\nPage 39-40:\n\nSummary Financial Information\nThe following table includes select financial information that is helpful in understanding the trends in financial condition and\nthe results of operations discussed throughout this Item 7. and “Item 8. Financial Statements and Supplementary Data.”Year Ended December 31,\n2021 2020 2019\n(In thousands, except per share data and ratios)\nOperating Data:\nRental income Property operating income (1) Gain on sale of real estate and change in control of interest, net of tax Operating income Net income available for common shareholders Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities $ 948,842 $ 832,171 $ 932,738\n$ 634,607 $ 545,332 $ 637,030\n$ 89,950 $ 98,117 $ 116,393\n$ 394,725 $ 289,524 $ 470,911\n$ 253,456 $ 123,664 $ 345,824\n$ 471,352 $ 369,929 $ 461,919\n$ (660,118) $ (368,383) $ (316,532)\n$ (452,967) $ 661,736 $ (100,105)\nEarnings per common share, diluted:\nNet income available to common shareholders Dividends declared per common share $ 3.26 $ 1.62 $ 4.61\n$ 4.26 $ 4.22 $ 4.14\nOther Data:\nFunds from operations available to common shareholders (2) $ 434,743 $ 333,849 $ 465,819\nFunds from operations available for common shareholders, per diluted share (2) $ 5.57 $ 4.38 $ 6.17\nEBITDAre (3) $ 589,792 $ 501,813 $ 599,567\nRatio of EBITDAre to combined fixed charges and preferred share dividends\n(3)(4) 3.6x 2.7x 4.2x\nAs of December 31,\n2021 2020 2019\n(In thousands)\nBalance Sheet Data:\nReal estate, at cost Total assets Total debt Total shareholders’ equity Number of common shares outstanding $ 9,422,062 $ 8,582,870 $ 8,298,132\n$ 7,622,320 $ 7,607,624 $ 6,794,992\n$ 4,047,547 $ 4,291,375 $ 3,356,594\n$ 2,663,148 $ 2,548,747 $ 2,636,132\n78,603 76,727 75,541\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations and we\nconsider it to be a significant measure. Property operating income should not be considered an alternative measure of\noperating results or cash flow from operations as determined in accordance with GAAP. The reconciliation of operating\nincome to property operating income for 2021, 2020, and 2019 is as follows:\n\n2021 2020 2019\n(in thousands)\n$ 634,607 $ 545,332 $ 637,030\nOperating income $ 394,725 $ 289,524 $ 470,911\nGeneral and administrative 49,856 41,680 42,754\nDepreciation and amortization 279,976 255,027 239,758\nImpairment charge — 57,218 —\nGain on sale of real estate and change in control of interest, net of tax (89,950) (98,117) (116,393)\nProperty operating income (2) Funds from operations \"FFO\" is a supplemental non-GAAP measure. See \"Liquidity and Capital Resources\" in this Item 7.\nfor further discussion.\n(3) EBITDA for Real Estate (\"EBITDAre\") is a non-GAAP measure that NAREIT defines as: net income computed in\naccordance with GAAP plus net interest expense, income tax expense, depreciation and amortization, gain or loss on sale\nof real estate, impairments of real estate, and adjustments to reflect the entity's share of EBITDAre of unconsolidated\n\naffiliates. We calculate EBITDAre consistent with the NAREIT definition. As EBITDA is a widely known and understood\nmeasure of performance, management believes EBITDAre represents an additional non-GAAP performance measure,\nindependent of a company's capital structure that will provide investors with a uniform basis to measure the enterprise\nvalue of a company. EBITDAre also approximates a key performance measure in our debt covenants, but it should not be\nconsidered an alternative measure of operating results or cash flow from operations as determined in accordance with\nGAAP.\nThe reconciliation of net income to EBITDAre for the periods presented is as follows:\n2021 2020 2019\n(In thousands)\nNet income $ 269,081 $ 135,888 $ 360,542\nInterest expense 127,698 136,289 109,623\nOther interest income (809) (1,894) (1,266)\nEarly extinguishment of debt — 11,179 —\nProvision (benefit) for income tax 118 (194) 772\nDepreciation and amortization 279,976 255,027 239,758\nGain on sale of real estate and change in control of interest (89,950) (98,117) (116,779)\nImpairment charge — 57,218 —\nAdjustments of EBITDAre of unconsolidated affiliates 3,678 6,417 6,917\nEBITDAre $ 589,792 $ 501,813 $ 599,567\n(4) Fixed charges consist of interest on borrowed funds (including capitalized interest), amortization of debt discount/\npremiums and debt costs, costs related to the early extinguishment of debt, and the portion of rent expense representing an\ninterest factor. Excluding the $11.2 million early extinguishment of debt charge from fixed charges in 2020, the ratio of\nEBITDAre to combined fixed charges and preferred share dividends is 2.9x. Excluding the $11.9 million charge related to\nthe buyout of the Kmart lease at Assembly Square Marketplace in 2019, our ratio of EBITDAre to combined fixed charges\nand preferred share dividends remained 4.2x.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000090_segments",
      "report_id": "ID_000090",
      "company_name": "Federal Realty investment Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Retail and mixed-use properties. Northease and Mid-Atlantic, California, South Florida.",
      "golden_context": "Page 11-12:\n\nGeneral\nWe are an equity real estate investment trust (“REIT”) specializing in the ownership, management, and redevelopment of high\nquality retail and mixed-use properties located primarily in communities where we believe retail demand exceeds supply, in\nstrategically selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, California, and\nSouth Florida. As of December 31, 2021, we owned or had a majority interest in community and neighborhood shopping\ncenters and mixed-use properties which are operated as 104 predominantly retail real estate projects comprising approximately\n3\n25.1 million square feet. In total, the real estate projects were 93.6% leased and 91.1% occupied at December 31, 2021. Our\nrevenue is primarily generated from lease agreements with tenants. We have paid quarterly dividends to our shareholders\ncontinuously since our founding in 1962 and have increased our dividends per common share for 54 consecutive years.\nWe were founded in 1962 as a REIT under the laws of the District of Columbia and re-formed as a REIT in the state of\nMaryland in 1999. In January of 2022, we consummated the UPREIT reorganization described in the Explanatory Note at the\nbeginning of this Annual Report. We operate in a manner intended to qualify as a REIT for tax purposes pursuant to provisions\nof the Internal Revenue Code of 1986, as amended (the “Code”). Our principal executive offices are located at 909 Rose\nAvenue, North Bethesda, Maryland 20852. Our telephone number is (301) 998-8100. Our website address is\nwww.federalrealty.com. The information contained on our website is not a part of this report and is not incorporated herein by\nreference.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_cash_flow",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 517m, investing cash flow -786m, financing activities 190m",
      "golden_context": "Page 77:\n\nFederal Realty Investment Trust\nConsolidated Statements of Cash Flows\nYear Ended December 31,\n2022 2021 2020\n(In thousands)\nOPERATING ACTIVITIES\nNet income $ 395,661 $ 269,081 $ 135,888\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 302,409 279,976 255,027\nImpairment charge — — 57,218\nGain on deconsolidation of VIE (70,374) — —\nGain on sale of real estate and change in control of interest, net of tax (93,483) (89,950) (98,117)\nEarly extinguishment of debt — — 11,179\n(Income) loss from partnerships (5,170) (1,245) 8,062\nStraight-line rent (18,326) (9,397) (4,492)\nShare-based compensation expense 13,704 13,009 11,924\nOther, net (4,812) (3,223) (1,290)\nChanges in assets and liabilities, net of effects of acquisitions and dispositions:\n(Increase) decrease in accounts receivable, net (12,071) 1,214 (6,032)\nIncrease in prepaid expenses and other assets (1,219) (5,607) (3,260)\nIncrease in accounts payable and accrued expenses 77 6,782 5,621\nIncrease (decrease) in security deposits and other liabilities 10,373 10,712 (1,799)\nNet cash provided by operating activities 516,769 471,352 369,929\nINVESTING ACTIVITIES\nAcquisition of real estate (438,494) (366,466) (9,589)\nCapital expenditures - development and redevelopment (309,046) (368,786) (433,872)\nCapital expenditures - other (107,655) (71,728) (68,064)\nCosts associated with property sold under threat of condemnation, net (18,031) — (12,924)\nProceeds from sale of real estate 133,717 137,868 183,461\nChange in cash from deconsolidation of VIE (4,192) — —\nInvestment in partnerships (23,155) (3,115) (3,348)\nDistribution from partnerships in excess of earnings 6,864 2,970 1,301\nLeasing costs (22,541) (21,990) (15,080)\n(Issuance) repayment of mortgage and other notes receivable, net (3,465) 31,129 (10,268)\nNet cash used in investing activities (785,998) (660,118) (368,383)\nFINANCING ACTIVITIES\nCosts to amend revolving credit facility (6,375) — (638)\nIssuance of senior notes, net of costs — — 1,094,283\nRedemption and retirement of senior notes — — (510,360)\nIssuance of notes payable, net of costs 298,568 — 398,722\nRepayment of mortgages, finance leases, and notes payable (19,443) (277,643) (70,237)\nIssuance of common shares, net of costs 307,275 172,981 99,177\nDividends paid to common and preferred shareholders (347,284) (335,656) (324,596)\nShares withheld for employee taxes (4,900) (2,998) (4,052)\nContributions from noncontrolling interests — 133 —\nDistributions to and redemptions of noncontrolling interests (37,427) (9,784) (20,563)\nNet cash provided by (used in) financing activities (Decrease) increase in cash, cash equivalents, and restricted cash Cash, cash equivalents, and restricted cash at beginning of year Cash, cash equivalents, and restricted cash at end of year The accompanying notes are an integral part of these consolidated statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_company_type",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "LP",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO THE SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-07533 (Federal Realty Investment Trust)\nCommission file number: 333-262016-01 (Federal Realty OP LP)\nFEDERAL REALTY INVESTMENT TRUST\nFEDERAL REALTY OP LP\n(Exact Name of Registrant as Specified in its charter)\nMaryland (Federal Realty Investment Trust) Delaware (Federal Realty OP LP) (State of Organization) 87-3916363\n52-0782497\n(IRS Employer Identification No.)\n909 Rose Avenue, Suite 200, North Bethesda, Maryland 20852\n(Address of Principal Executive Offices) (Zip Code)\n(301) 998-8100\n(Registrant’s Telephone Number, Including Area Code)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_key_financials",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Rental income 1bn, net income 396, net income attributable to the Trust: 385m",
      "golden_context": "Page 47-48:\n\nYEAR ENDED DECEMBER 31, 2022 COMPARED TO YEAR ENDED DECEMBER 31, 2021\nChange\n2022 2021 Dollars %\n(Dollar amounts in thousands)\n$ 1,073,292 $ 948,842 $ 124,450 13.1 %\n1,086 2,382 (1,296) (54.4)%\n1,074,378 951,224 123,154 12.9 %\n228,958 198,121 30,837 15.6 %\n127,824 118,496 9,328 7.9 %\nRental income Mortgage interest income Total property revenue Rental expenses Real estate taxes Total property expenses 356,782 316,617 40,165 12.7 %\nProperty operating income (1) 717,596 634,607 82,989 13.1 %\nGeneral and administrative expense (52,636) (49,856) (2,780) 5.6 %\nDepreciation and amortization (302,409) (279,976) (22,433) 8.0 %\nGain on deconsolidation of VIE 70,374 — 70,374 100.0 %\nGain on sale of real estate and change in control of interest 93,483 89,950 3,533 3.9 %\nOperating income 526,408 394,725 131,683 33.4 %\nOther interest income 1,072 809 263 32.5 %\nInterest expense (136,989) (127,698) (9,291) 7.3 %\nIncome from partnerships 5,170 1,245 3,925 315.3 %\nTotal other, net (130,747) (125,644) (5,103) 4.1 %\nNet income 395,661 269,081 126,580 47.0 %\nNet income attributable to noncontrolling interests (10,170) (7,583) (2,587) 34.1 %\nNet income attributable to the Trust (1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2022 and 2021 is as\nfollows:\n2022 2021\n$ 385,491 $ 261,498 $ 123,993 47.4 %\n(in thousands)\nOperating income $ 526,408 $ 394,725\nGeneral and administrative 52,636 49,856\nDepreciation and amortization 302,409 279,976\nGain on deconsolidation of VIE (70,374) —\nGain on sale of real estate and change in control of interest (93,483) (89,950)\nProperty operating income Property Revenues\nTotal property revenue increased $123.2 million, or 12.9%, to $1.1 billion in 2022 compared to $951.2 million in 2021. The\npercentage occupied at our shopping centers was 92.8% at December 31, 2022 compared to 91.1% at December 31, 2021. The\nmost significant driver of the increase in property revenues is the ongoing recovery from the initial impacts of COVID-19\n$ 717,596 $ 634,607\n39\nduring 2022, as compared to 2021, when COVID-19 related restrictions were still in effect for a portion of the year. Changes in\nthe components of property revenue are discussed below.\nRental Income\nRental income consists primarily of minimum rent, cost reimbursements from tenants and percentage rent, and is net of\ncollectibility related adjustments. Rental income increased $124.5 million, or 13.1%, to $1.1 billion in 2022 compared to $948.8\nmillion in 2021 due primarily to the following:\n• an increase of $39.8 million from 2021 and 2022 acquisitions,\n• an increase of $36.3 million from comparable properties primarily related to higher percentage rent, parking\nincome, and specialty leasing of $10.7 million primarily the result of the gradual lifting of COVID-19 closures\nand restrictions during 2021, higher rental rates of $9.9 million, higher average occupancy of approximately\n$8.3 million, a $5.7 million increase in CAM recoveries on higher CAM costs, and a $3.2 million increase in\ntenant recoveries, partially offset by lower net termination fees and legal fee income of $2.5 million,\n• an increase of $30.6 million from non-comparable properties primarily driven by the opening of Phase III at\nAssembly Row in 2021, redevelopment related occupancy increases at CocoWalk, and the 2021 and 2022\nopenings at the Phase III office building at Pike & Rose, partially offset by redevelopment related occupancy\ndecreases at Huntington Shopping Center,\n• a $28.0 million decrease in collectibility related impacts across all properties primarily due to higher collection\nrates and lower rent abatements in 2022 as tenants continue to recover from the initial impacts of COVID-19,\nand\n• an increase of $4.2 million from improving demand at our Pike & Rose hotel,\npartially offset by\n• a decrease of $11.4 million from property sales.\nMortgage Interest Income\nMortgage interest income decreased $1.3 million, or 54.4%, to $1.1 million in 2022 compared to $2.4 million in 2021 primarily\ndue to the repayment of $31.1 million of mortgage notes receivable in May 2021.\nProperty Expenses\nTotal property expenses increased $40.2 million, or 12.7%, to $356.8 million in 2022 compared to $316.6 million in 2021.\nChanges in the components of property expenses are discussed below.\nRental Expenses\nRental expenses increased $30.8 million, or 15.6%, to $229.0 million in 2022 compared to $198.1 million in 2021. This\nincrease is primarily due to the following:\n• an increase of $12.2 million from comparable properties due primarily to higher repairs and maintenance costs,\nutilities, and management fees, as 2021 had lower costs as a result of COVID-19 impacts, as well as inflationary\nimpacts in 2022 and higher insurance costs,\n• an increase of $7.7 million from 2021 and 2022 acquisitions,\n• an increase of $6.9 million from non-comparable properties due primarily to the 2021 openings of Phase III at\nAssembly Row, the Phase III office building at Pike & Rose, and CocoWalk, as well as increased costs\nassociated with the redevelopment of Huntington Shopping Center, and\n• an increase of $5.3 million from higher operating costs at our Pike & Rose hotel largely due to lifting of\nCOVID-19 restrictions,\npartially offset by\n• a decrease of $1.5 million from our property sales.\nAs a result of the changes in rental income and rental expenses as discussed above, rental expenses as a percentage of rental\nincome increased to 21.3% for the year ended December 31, 2022 from 20.9% for the year ended December 31, 2021.\nReal Estate Taxes\nReal estate tax expense increased $9.3 million, or 7.9% to $127.8 million in 2022 compared to $118.5 million in 2021 due\nprimarily to the following:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_revenue",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Rental income 1bn",
      "golden_context": "Page 47-48:\n\nYEAR ENDED DECEMBER 31, 2022 COMPARED TO YEAR ENDED DECEMBER 31, 2021\nChange\n2022 2021 Dollars %\n(Dollar amounts in thousands)\n$ 1,073,292 $ 948,842 $ 124,450 13.1 %\n1,086 2,382 (1,296) (54.4)%\n1,074,378 951,224 123,154 12.9 %\n228,958 198,121 30,837 15.6 %\n127,824 118,496 9,328 7.9 %\nRental income Mortgage interest income Total property revenue Rental expenses Real estate taxes Total property expenses 356,782 316,617 40,165 12.7 %\nProperty operating income (1) 717,596 634,607 82,989 13.1 %\nGeneral and administrative expense (52,636) (49,856) (2,780) 5.6 %\nDepreciation and amortization (302,409) (279,976) (22,433) 8.0 %\nGain on deconsolidation of VIE 70,374 — 70,374 100.0 %\nGain on sale of real estate and change in control of interest 93,483 89,950 3,533 3.9 %\nOperating income 526,408 394,725 131,683 33.4 %\nOther interest income 1,072 809 263 32.5 %\nInterest expense (136,989) (127,698) (9,291) 7.3 %\nIncome from partnerships 5,170 1,245 3,925 315.3 %\nTotal other, net (130,747) (125,644) (5,103) 4.1 %\nNet income 395,661 269,081 126,580 47.0 %\nNet income attributable to noncontrolling interests (10,170) (7,583) (2,587) 34.1 %\nNet income attributable to the Trust (1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2022 and 2021 is as\nfollows:\n2022 2021\n$ 385,491 $ 261,498 $ 123,993 47.4 %\n(in thousands)\nOperating income $ 526,408 $ 394,725\nGeneral and administrative 52,636 49,856\nDepreciation and amortization 302,409 279,976\nGain on deconsolidation of VIE (70,374) —\nGain on sale of real estate and change in control of interest (93,483) (89,950)\nProperty operating income Property Revenues\nTotal property revenue increased $123.2 million, or 12.9%, to $1.1 billion in 2022 compared to $951.2 million in 2021. The\npercentage occupied at our shopping centers was 92.8% at December 31, 2022 compared to 91.1% at December 31, 2021. The\nmost significant driver of the increase in property revenues is the ongoing recovery from the initial impacts of COVID-19\n$ 717,596 $ 634,607\n39\nduring 2022, as compared to 2021, when COVID-19 related restrictions were still in effect for a portion of the year. Changes in\nthe components of property revenue are discussed below.\nRental Income\nRental income consists primarily of minimum rent, cost reimbursements from tenants and percentage rent, and is net of\ncollectibility related adjustments. Rental income increased $124.5 million, or 13.1%, to $1.1 billion in 2022 compared to $948.8\nmillion in 2021 due primarily to the following:\n• an increase of $39.8 million from 2021 and 2022 acquisitions,\n• an increase of $36.3 million from comparable properties primarily related to higher percentage rent, parking\nincome, and specialty leasing of $10.7 million primarily the result of the gradual lifting of COVID-19 closures\nand restrictions during 2021, higher rental rates of $9.9 million, higher average occupancy of approximately\n$8.3 million, a $5.7 million increase in CAM recoveries on higher CAM costs, and a $3.2 million increase in\ntenant recoveries, partially offset by lower net termination fees and legal fee income of $2.5 million,\n• an increase of $30.6 million from non-comparable properties primarily driven by the opening of Phase III at\nAssembly Row in 2021, redevelopment related occupancy increases at CocoWalk, and the 2021 and 2022\nopenings at the Phase III office building at Pike & Rose, partially offset by redevelopment related occupancy\ndecreases at Huntington Shopping Center,\n• a $28.0 million decrease in collectibility related impacts across all properties primarily due to higher collection\nrates and lower rent abatements in 2022 as tenants continue to recover from the initial impacts of COVID-19,\nand\n• an increase of $4.2 million from improving demand at our Pike & Rose hotel,\npartially offset by\n• a decrease of $11.4 million from property sales.\nMortgage Interest Income\nMortgage interest income decreased $1.3 million, or 54.4%, to $1.1 million in 2022 compared to $2.4 million in 2021 primarily\ndue to the repayment of $31.1 million of mortgage notes receivable in May 2021.\nProperty Expenses\nTotal property expenses increased $40.2 million, or 12.7%, to $356.8 million in 2022 compared to $316.6 million in 2021.\nChanges in the components of property expenses are discussed below.\nRental Expenses\nRental expenses increased $30.8 million, or 15.6%, to $229.0 million in 2022 compared to $198.1 million in 2021. This\nincrease is primarily due to the following:\n• an increase of $12.2 million from comparable properties due primarily to higher repairs and maintenance costs,\nutilities, and management fees, as 2021 had lower costs as a result of COVID-19 impacts, as well as inflationary\nimpacts in 2022 and higher insurance costs,\n• an increase of $7.7 million from 2021 and 2022 acquisitions,\n• an increase of $6.9 million from non-comparable properties due primarily to the 2021 openings of Phase III at\nAssembly Row, the Phase III office building at Pike & Rose, and CocoWalk, as well as increased costs\nassociated with the redevelopment of Huntington Shopping Center, and\n• an increase of $5.3 million from higher operating costs at our Pike & Rose hotel largely due to lifting of\nCOVID-19 restrictions,\npartially offset by\n• a decrease of $1.5 million from our property sales.\nAs a result of the changes in rental income and rental expenses as discussed above, rental expenses as a percentage of rental\nincome increased to 21.3% for the year ended December 31, 2022 from 20.9% for the year ended December 31, 2021.\nReal Estate Taxes\nReal estate tax expense increased $9.3 million, or 7.9% to $127.8 million in 2022 compared to $118.5 million in 2021 due\nprimarily to the following:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_revenue_growth",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Rental income 1bn, prior year 949m",
      "golden_context": "Page 47-48:\n\nYEAR ENDED DECEMBER 31, 2022 COMPARED TO YEAR ENDED DECEMBER 31, 2021\nChange\n2022 2021 Dollars %\n(Dollar amounts in thousands)\n$ 1,073,292 $ 948,842 $ 124,450 13.1 %\n1,086 2,382 (1,296) (54.4)%\n1,074,378 951,224 123,154 12.9 %\n228,958 198,121 30,837 15.6 %\n127,824 118,496 9,328 7.9 %\nRental income Mortgage interest income Total property revenue Rental expenses Real estate taxes Total property expenses 356,782 316,617 40,165 12.7 %\nProperty operating income (1) 717,596 634,607 82,989 13.1 %\nGeneral and administrative expense (52,636) (49,856) (2,780) 5.6 %\nDepreciation and amortization (302,409) (279,976) (22,433) 8.0 %\nGain on deconsolidation of VIE 70,374 — 70,374 100.0 %\nGain on sale of real estate and change in control of interest 93,483 89,950 3,533 3.9 %\nOperating income 526,408 394,725 131,683 33.4 %\nOther interest income 1,072 809 263 32.5 %\nInterest expense (136,989) (127,698) (9,291) 7.3 %\nIncome from partnerships 5,170 1,245 3,925 315.3 %\nTotal other, net (130,747) (125,644) (5,103) 4.1 %\nNet income 395,661 269,081 126,580 47.0 %\nNet income attributable to noncontrolling interests (10,170) (7,583) (2,587) 34.1 %\nNet income attributable to the Trust (1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2022 and 2021 is as\nfollows:\n2022 2021\n$ 385,491 $ 261,498 $ 123,993 47.4 %\n(in thousands)\nOperating income $ 526,408 $ 394,725\nGeneral and administrative 52,636 49,856\nDepreciation and amortization 302,409 279,976\nGain on deconsolidation of VIE (70,374) —\nGain on sale of real estate and change in control of interest (93,483) (89,950)\nProperty operating income Property Revenues\nTotal property revenue increased $123.2 million, or 12.9%, to $1.1 billion in 2022 compared to $951.2 million in 2021. The\npercentage occupied at our shopping centers was 92.8% at December 31, 2022 compared to 91.1% at December 31, 2021. The\nmost significant driver of the increase in property revenues is the ongoing recovery from the initial impacts of COVID-19\n$ 717,596 $ 634,607\n39\nduring 2022, as compared to 2021, when COVID-19 related restrictions were still in effect for a portion of the year. Changes in\nthe components of property revenue are discussed below.\nRental Income\nRental income consists primarily of minimum rent, cost reimbursements from tenants and percentage rent, and is net of\ncollectibility related adjustments. Rental income increased $124.5 million, or 13.1%, to $1.1 billion in 2022 compared to $948.8\nmillion in 2021 due primarily to the following:\n• an increase of $39.8 million from 2021 and 2022 acquisitions,\n• an increase of $36.3 million from comparable properties primarily related to higher percentage rent, parking\nincome, and specialty leasing of $10.7 million primarily the result of the gradual lifting of COVID-19 closures\nand restrictions during 2021, higher rental rates of $9.9 million, higher average occupancy of approximately\n$8.3 million, a $5.7 million increase in CAM recoveries on higher CAM costs, and a $3.2 million increase in\ntenant recoveries, partially offset by lower net termination fees and legal fee income of $2.5 million,\n• an increase of $30.6 million from non-comparable properties primarily driven by the opening of Phase III at\nAssembly Row in 2021, redevelopment related occupancy increases at CocoWalk, and the 2021 and 2022\nopenings at the Phase III office building at Pike & Rose, partially offset by redevelopment related occupancy\ndecreases at Huntington Shopping Center,\n• a $28.0 million decrease in collectibility related impacts across all properties primarily due to higher collection\nrates and lower rent abatements in 2022 as tenants continue to recover from the initial impacts of COVID-19,\nand\n• an increase of $4.2 million from improving demand at our Pike & Rose hotel,\npartially offset by\n• a decrease of $11.4 million from property sales.\nMortgage Interest Income\nMortgage interest income decreased $1.3 million, or 54.4%, to $1.1 million in 2022 compared to $2.4 million in 2021 primarily\ndue to the repayment of $31.1 million of mortgage notes receivable in May 2021.\nProperty Expenses\nTotal property expenses increased $40.2 million, or 12.7%, to $356.8 million in 2022 compared to $316.6 million in 2021.\nChanges in the components of property expenses are discussed below.\nRental Expenses\nRental expenses increased $30.8 million, or 15.6%, to $229.0 million in 2022 compared to $198.1 million in 2021. This\nincrease is primarily due to the following:\n• an increase of $12.2 million from comparable properties due primarily to higher repairs and maintenance costs,\nutilities, and management fees, as 2021 had lower costs as a result of COVID-19 impacts, as well as inflationary\nimpacts in 2022 and higher insurance costs,\n• an increase of $7.7 million from 2021 and 2022 acquisitions,\n• an increase of $6.9 million from non-comparable properties due primarily to the 2021 openings of Phase III at\nAssembly Row, the Phase III office building at Pike & Rose, and CocoWalk, as well as increased costs\nassociated with the redevelopment of Huntington Shopping Center, and\n• an increase of $5.3 million from higher operating costs at our Pike & Rose hotel largely due to lifting of\nCOVID-19 restrictions,\npartially offset by\n• a decrease of $1.5 million from our property sales.\nAs a result of the changes in rental income and rental expenses as discussed above, rental expenses as a percentage of rental\nincome increased to 21.3% for the year ended December 31, 2022 from 20.9% for the year ended December 31, 2021.\nReal Estate Taxes\nReal estate tax expense increased $9.3 million, or 7.9% to $127.8 million in 2022 compared to $118.5 million in 2021 due\nprimarily to the following:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000091_segments",
      "report_id": "ID_000091",
      "company_name": "Federal Realty Investment Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Retail and mixed-use properties. Northease and Mid-Atlantic, California, South Florida.",
      "golden_context": "Page 11:\n\nITEM 1. BUSINESS\nGeneral\nFederal Realty Investment Trust (the \"Parent Company\" or the \"Trust\") is an equity real estate investment trust (\"REIT\").\nFederal Realty OP LP (the \"Operating Partnership\") is the entity through which the Trust conducts substantially all of its\noperations and owns substantially off of its assets. The Trust owns 100% of the limited liability company interest of, is sole\n3\nmember of, and exercises exclusive control over Federal Realty GP LLC (the \"General Partner\"), which in turn, is the sole\ngeneral partner of the Operating Partnership. Unless stated otherwise or the context otherwise requires, \"we,\" \"our,\" and \"us\"\nmeans the Trust and its business and operations conducted through its directly and indirectly owned subsidiaries, including the\nOperating Partnership.The Parent Company specializes in the ownership, management, and redevelopment of high quality retail\nand mixed-use properties located primarily in communities where we believe retail demand exceeds supply, in strategically\nselected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As\nof December 31, 2022, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use\nproperties which are operated as 103 predominantly retail real estate projects comprising approximately 25.8 million square\nfeet. In total, the real estate projects were 94.5% leased and 92.8% occupied at December 31, 2022. Our revenue is primarily\ngenerated from lease agreements with tenants. We have paid quarterly dividends to our shareholders continuously since our\nfounding in 1962 and have increased our dividends per common share for 55 consecutive years.\nWe were founded in 1962 as a REIT under the laws of the District of Columbia and re-formed as a REIT in the state of\nMaryland in 1999. In January of 2022, we consummated the UPREIT reorganization described in the Explanatory Note at the\nbeginning of this Annual Report. We operate in a manner intended to qualify as a REIT for tax purposes pursuant to provisions\nof the Internal Revenue Code of 1986, as amended (the “Code”). Our principal executive offices are located at 909 Rose\nAvenue, North Bethesda, Maryland 20852. Our telephone number is (301) 998-8100. Our website address is\nwww.federalrealty.com. The information contained on our website is not a part of this report and is not incorporated herein by\nreference",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_cash_flow",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 556m, investing cash flow -358m, financing cash flow -34m.",
      "golden_context": "Page 49:\n\nSummary of Cash Flows\nYear Ended December 31,\n2023 2022 Change\n(In thousands)\nNet cash provided by operating activities............................................................ $ 555,830 $ 516,769 $ 39,061\nNet cash used in investing activities .................................................................... (358,325) (785,998) 427,673\nNet cash (used in) provided by financing activities............................................. (33,849) 190,414 (224,263)\nIncrease (decrease) in cash and cash equivalents................................................. 163,656 (78,815) 242,471\nCash, cash equivalents, and restricted cash, beginning of year ........................... 96,348 175,163 (78,815)\nCash, cash equivalents, and restricted cash, end of year ..................................... $ 260,004 $ 96,348 $ 163,656\nNet cash provided by operating activities increased $39.1 million to $555.8 million during 2023 from $516.8 million during\n2022. The increase was primarily attributable to higher net income after adjusting for non-cash items and gains on sale of real\nestate, as well as higher collections related to year end recovery billings.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_company_type",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "LP",
      "golden_context": "Page 7:\n\nCommission file number: 1-07533 (Federal Realty Investment Trust)\nCommission file number: 333-262016-01 (Federal Realty OP LP)\nFEDERAL REALTY INVESTMENT TRUST\nFEDERAL REALTY OP LP\n(Exact Name of Registrant as Specified in its charter)\nMaryland (Federal Realty Investment Trust) Delaware (Federal Realty OP LP) (State of Organization) 87-3916363\n52-0782497\n(IRS Employer Identification No.)\n909 Rose Avenue, Suite 200, North Bethesda, Maryland 20852\n(Address of Principal Executive Offices) (Zip Code)\n(301) 998-8100\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Shares of Beneficial Interest $.01 par value per share, with associated Common Share\nPurchase Rights\nDepositary Shares, each representing 1/1000 of a share of 5.00% Series C Cumulative Redeemable Preferred\nStock, $.01 par value per share\nFederal Realty Investment Trust\nTrading Symbol FRT FRT-C Name of Each Exch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_key_financials",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Rental income 1.1bn, net income 247m, operating income 406m",
      "golden_context": "Page 46:\n\nYEAR ENDED DECEMBER 31, 2023 COMPARED TO YEAR ENDED DECEMBER 31, 2022\nChange\n2023 2022 Dollars %\n(Dollar amounts in thousands)\nRental income $ 1,131,041 $ 1,073,292 $ 57,749 5.4 %\nMortgage interest income 1,113 1,086 27 2.5 %\nTotal property revenue 1,132,154 1,074,378 57,776 5.4 %\nRental expenses 231,666 228,958 2,708 1.2 %\nReal estate taxes 131,429 127,824 3,605 2.8 %\nTotal property expenses 363,095 356,782 6,313 1.8 %\nProperty operating income (1) 769,059 717,596 51,463 7.2 %\nGeneral and administrative expense (50,707) (52,636) 1,929 (3.7)%\nDepreciation and amortization (321,763) (302,409) (19,354) 6.4 %\nGain on deconsolidation of VIE — 70,374 (70,374) (100.0)%\nGain on sale of real estate 9,881 93,483 (83,602) (89.4)%\nOperating income 406,470 526,408 (119,938) (22.8)%\nOther interest income 4,687 1,072 3,615 337.2 %\nInterest expense (167,809) (136,989) (30,820) 22.5 %\nIncome from partnerships 3,869 5,170 (1,301) (25.2)%\nTotal other, net (159,253) (130,747) (28,506) 21.8 %\nNet income 247,217 395,661 (148,444) (37.5)%\nNet income attributable to noncontrolling interests (10,232) (10,170) (62) 0.6 %\nNet income attributable to the Trust $ 236,985 $ 385,491 $ (148,506) (38.5)%\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2023 and 2022 is as\nfollows:\n2023 2022\n(in thousands)\nOperating income $ 406,470 $ 526,408\nGeneral and administrative 50,707 52,636\nDepreciation and amortization 321,763 302,409\nGain on deconsolidation of VIE — (70,374)\nGain on sale of real estate (9,881) (93,483)\nProperty operating income $ 769,059 $ 717,596",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_revenue",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Rental income 1.1bn",
      "golden_context": "Page 46:\n\nYEAR ENDED DECEMBER 31, 2023 COMPARED TO YEAR ENDED DECEMBER 31, 2022\nChange\n2023 2022 Dollars %\n(Dollar amounts in thousands)\nRental income $ 1,131,041 $ 1,073,292 $ 57,749 5.4 %\nMortgage interest income 1,113 1,086 27 2.5 %\nTotal property revenue 1,132,154 1,074,378 57,776 5.4 %\nRental expenses 231,666 228,958 2,708 1.2 %\nReal estate taxes 131,429 127,824 3,605 2.8 %\nTotal property expenses 363,095 356,782 6,313 1.8 %\nProperty operating income (1) 769,059 717,596 51,463 7.2 %\nGeneral and administrative expense (50,707) (52,636) 1,929 (3.7)%\nDepreciation and amortization (321,763) (302,409) (19,354) 6.4 %\nGain on deconsolidation of VIE — 70,374 (70,374) (100.0)%\nGain on sale of real estate 9,881 93,483 (83,602) (89.4)%\nOperating income 406,470 526,408 (119,938) (22.8)%\nOther interest income 4,687 1,072 3,615 337.2 %\nInterest expense (167,809) (136,989) (30,820) 22.5 %\nIncome from partnerships 3,869 5,170 (1,301) (25.2)%\nTotal other, net (159,253) (130,747) (28,506) 21.8 %\nNet income 247,217 395,661 (148,444) (37.5)%\nNet income attributable to noncontrolling interests (10,232) (10,170) (62) 0.6 %\nNet income attributable to the Trust $ 236,985 $ 385,491 $ (148,506) (38.5)%\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2023 and 2022 is as\nfollows:\n2023 2022\n(in thousands)\nOperating income $ 406,470 $ 526,408\nGeneral and administrative 50,707 52,636\nDepreciation and amortization 321,763 302,409\nGain on deconsolidation of VIE — (70,374)\nGain on sale of real estate (9,881) (93,483)\nProperty operating income $ 769,059 $ 717,596",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_revenue_growth",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Rental income 1131mbn, 1073m in the prior year.",
      "golden_context": "Page 46:\n\nYEAR ENDED DECEMBER 31, 2023 COMPARED TO YEAR ENDED DECEMBER 31, 2022\nChange\n2023 2022 Dollars %\n(Dollar amounts in thousands)\nRental income $ 1,131,041 $ 1,073,292 $ 57,749 5.4 %\nMortgage interest income 1,113 1,086 27 2.5 %\nTotal property revenue 1,132,154 1,074,378 57,776 5.4 %\nRental expenses 231,666 228,958 2,708 1.2 %\nReal estate taxes 131,429 127,824 3,605 2.8 %\nTotal property expenses 363,095 356,782 6,313 1.8 %\nProperty operating income (1) 769,059 717,596 51,463 7.2 %\nGeneral and administrative expense (50,707) (52,636) 1,929 (3.7)%\nDepreciation and amortization (321,763) (302,409) (19,354) 6.4 %\nGain on deconsolidation of VIE — 70,374 (70,374) (100.0)%\nGain on sale of real estate 9,881 93,483 (83,602) (89.4)%\nOperating income 406,470 526,408 (119,938) (22.8)%\nOther interest income 4,687 1,072 3,615 337.2 %\nInterest expense (167,809) (136,989) (30,820) 22.5 %\nIncome from partnerships 3,869 5,170 (1,301) (25.2)%\nTotal other, net (159,253) (130,747) (28,506) 21.8 %\nNet income 247,217 395,661 (148,444) (37.5)%\nNet income attributable to noncontrolling interests (10,232) (10,170) (62) 0.6 %\nNet income attributable to the Trust $ 236,985 $ 385,491 $ (148,506) (38.5)%\n(1) Property operating income is a non-GAAP measure that consists of rental income and mortgage interest income, less rental\nexpenses and real estate taxes. This measure is used internally to evaluate the performance of property operations to the\nprevious period and we consider it be a significant measure. We believe that property operating income is useful to investors\nin measuring the operating performance of our property portfolio because the definition excludes various items included in\noperating income that do not relate to, or are not indicative of, the operating performance of our properties, such as general\nand administrative expenses and depreciation and amortization, and allows us to isolate disparities in operating income\ncaused by acquisitions, dispositions, and stabilization of properties. Property operating income may, therefore, provide a\nmore consistent metric for comparing the operating performance of our real estate between periods. Property operating\nincome should not be considered an alternative measure of operating results or cash flow from operations as determined in\naccordance with GAAP. The reconciliation of operating income to property operating income for 2023 and 2022 is as\nfollows:\n2023 2022\n(in thousands)\nOperating income $ 406,470 $ 526,408\nGeneral and administrative 50,707 52,636\nDepreciation and amortization 321,763 302,409\nGain on deconsolidation of VIE — (70,374)\nGain on sale of real estate (9,881) (93,483)\nProperty operating income $ 769,059 $ 717,596",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000092_segments",
      "report_id": "ID_000092",
      "company_name": "Federal Realty Investment Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "High-quality retail and mixed-use properties. Mid-Atlantic and Northeast regions of the United States, California, and South Florida. ",
      "golden_context": "Page 11-12:\n\nITEM 1. BUSINESS\nGeneral\nFederal Realty Investment Trust (the \"Parent Company\" or the \"Trust\") is an equity real estate investment trust (\"REIT\").\nFederal Realty OP LP (the \"Operating Partnership\") is the entity through which the Trust conducts substantially all of its\noperations and owns substantially off of its assets. The Trust owns 100% of the limited liability company interest of, is sole\n3\nmember of, and exercises exclusive control over Federal Realty GP LLC (the \"General Partner\"), which in turn, is the sole\ngeneral partner of the Operating Partnership. Unless stated otherwise or the context otherwise requires, \"we,\" \"our,\" and \"us\"\nmeans the Trust and its business and operations conducted through its directly and indirectly owned subsidiaries, including the\nOperating Partnership. We specialize in the ownership, management, and redevelopment of high quality retail and mixed-use\nproperties located primarily in communities where we believe retail demand exceeds supply, in strategically selected\nmetropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of\nDecember 31, 2023, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use\nproperties which are operated as 102 predominantly retail real estate projects comprising approximately 26.0\nmillion commercial square feet. In total, the real estate projects were 94.2% leased and 92.2% occupied at December 31, 2023.\nOur revenue is primarily generated from lease agreements with tenants. We have paid quarterly dividends to our shareholders\ncontinuously since our founding in 1962 and have increased our dividends per common share for 56 consecutive years.\nWe were founded in 1962 as a REIT under the laws of the District of Columbia and re-formed as a REIT in the state of\nMaryland in 1999. In January of 2022, we consummated the UPREIT reorganization described in the Explanatory Note at the\nbeginning of this Annual Report. We operate in a manner intended to qualify as a REIT for tax purposes pursuant to provisions\nof the Internal Revenue Code of 1986, as amended (the “Code”). Our principal executive offices are located at 909 Rose\nAvenue, North Bethesda, Maryland 20852. Our telephone number is (301) 998-8100. Our website address is\nwww.federalrealty.com. The information contained on our website is not a part of this report and is not incorporated herein by\nreference.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_cash_flow",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating activities 652m, investing activities cash flow 157m, financing cash flow -716m",
      "golden_context": "Page 55:\n\nash Flows\nThe following table provides a summary of our cash flows for the periods presented:\nYear Ended December 31,\n2021 2020\nCash flows from continuing operations provided by (used in):\nOperating activities $ 652.1 $ 437.1\nInvesting activities 156.7 (837.8)\nFinancing activities (715.8) 455.2\nCash flows used in discontinued operations (0.7) (0.7)\nEffect of exchange rate changes on cash and cash equivalents (23.1) 21.0\nIncrease (decrease) in cash and cash equivalents $ 69.2 $ 74.8\nCash Flow from Operating Activities\nNet cash provided by operating activities from continuing operations was $652.1 million during 2021, and\n$437.1 million during 2020. The $215.0 million increase was primarily attributable to favorable operating results and\nlower contingent consideration payments. Net cash provided by operating activities from continuing operations also\nreflects $33.8 million of proceeds received from the Respiratory business divestiture attributed to performance\nobligations under the MSTA, which were largely offset by tax payments related to the Respiratory business\ndivestiture",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_company_type",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 17:\n\non period from to .\nCommission file number 1-5353\n_________________________________________________\nTELEFLEX INCORPORATED\n(Exact name of registrant as specified in its charter)\n_________________________________________________\nDelaware 23-1147939\n(State or other jurisdiction of\nincorporation or organization) (I.R.S. employer identification no.)\n550 East Swedesford Road, Suite 400, Wayne, Pennsylvania (Address of principal executive offices) Registrant’s telephone number, including area code: (610) 225-6800\n19087\n(Zip Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value\n$1.00 per share TFX New York Stock Exchang",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_key_financials",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 2.8bn, operating cash flow 652m",
      "golden_context": "Page 2:\n\nFinancial Highlights\nFROM CONTINUING OPERATIONS (Dollars in millions, except per share data)\n$2,809,563\n$106,208\n$113,857\n$119,747\n$130,841\n$13.33\n$652,139\n$9.90\n$11.15\n$10.67\n$2,595,362\n$2,448,383\n$2,537,156\n$435,086\n$437,068\n$437,143\n18 19 20 21\nNet Revenues\n10.7%\nVariance\n18 19 20 21\n18 19 20\n21\nResearch and\nDevelopment\n9.3%\nVariance\nAdjusted Earnings\nPer Share1\n24.9%\nVariance\n¹\n_x0007_ A table reconciling adjusted earnings per share to the most directly comparable\nGAAP measure can be found at the end of this Annual Report.\n18 19 20\n21\nNet Cash Provided by\nOperating Activities\n49.2%\nVariance\n2021\nRevenues\nby Geography\n2021\nRevenues\nby Product Profile\n59.1% 21.6% 10.6% 8.7%\n24.5%\n63.5%\n12.0%\nAmericas\nEurope,\nMiddle East\nand Africa\nAsia\nPacific\nOEM\nHigh\nGrowth\nDurable\nCore\nOther\n• _x0007_ Our “high growth” portfolio is spread across several business units, and includes UroLift®, MANTA®, EZ-IO®, and OnControl®, as well as\nhemostats and PICCs.\n• Our “durable core” portfolio includes Teleflex products outside of the “high growth” and “other” categories.\n• _x0007_ Our “other” category includes sales of respiratory products not included in the divestiture to Medline, as well as urology care products\nand revenues associated with the manufacturing and supply transition agreements we entered into in connection with the respiratory\nbusiness divestiture.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_revenue",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "2810m",
      "golden_context": "Page 48:\n\nFor a discussion of our results of operations comparison for 2020 and 2019, refer to our Annual Report on Form\n10-K for the fiscal year ended December 31, 2020 filed on February 25, 2021.\nComparison of 2021 and 2020\nRevenues\n2021 2020\nNet Revenues $ 2,809.6 $ 2,537.2\nNet revenues for the year ended December 31, 2021 increased by $272.4 million, or 10.7%,compared to the\nprior year, which was primarily attributable to a $94.4 million increase in sales volume of existing products, largely\nstemming from the impact that the COVID-19 pandemic had on the prior year, net revenues of $70.4 million\ngenerated by acquired businesses, primarily Z-Medica, a $50.0 million increase in new product sales and $44.9\nmillion of favorable fluctuations in foreign currency exchange rates.\nGross profit\n2021 2020\nGross profit $ 1,549.6 $ 1,324.9\nPercentage of revenues 55.2 % 52.2 %\nFor the year ended December 31, 2021, gross margin increased 300 basis points, or 5.7%, compared to the\nprior year period primarily due to higher sales volumes largely stemming from the impact that the COVID-19\npandemic had on the prior year, benefits from cost improvement initiatives, price increases and favor",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_revenue_growth",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "2810m, previous year 2537m",
      "golden_context": "Page 48:\n\nFor a discussion of our results of operations comparison for 2020 and 2019, refer to our Annual Report on Form\n10-K for the fiscal year ended December 31, 2020 filed on February 25, 2021.\nComparison of 2021 and 2020\nRevenues\n2021 2020\nNet Revenues $ 2,809.6 $ 2,537.2\nNet revenues for the year ended December 31, 2021 increased by $272.4 million, or 10.7%,compared to the\nprior year, which was primarily attributable to a $94.4 million increase in sales volume of existing products, largely\nstemming from the impact that the COVID-19 pandemic had on the prior year, net revenues of $70.4 million\ngenerated by acquired businesses, primarily Z-Medica, a $50.0 million increase in new product sales and $44.9\nmillion of favorable fluctuations in foreign currency exchange rates.\nGross profit\n2021 2020\nGross profit $ 1,549.6 $ 1,324.9\nPercentage of revenues 55.2 % 52.2 %\nFor the year ended December 31, 2021, gross margin increased 300 basis points, or 5.7%, compared to the\nprior year period primarily due to higher sales volumes largely stemming from the impact that the COVID-19\npandemic had on the prior year, benefits from cost improvement initiatives, price increases and favor",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000093_segments",
      "report_id": "ID_000093",
      "company_name": "Teleflex",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Americas, EMEA, Asia, OEM",
      "golden_context": "Page 52:\n\nSegment Results\nSegment Net Revenues\nYear Ended December 31 % Increase/(Decrease)\n2021 2020 2021 vs 2020\nAmericas $ 1,659.3 $ 1,465.0 13.3\nEMEA 606.8 584.9 3.8\nAsia 297.8 267.0 11.5\nOEM 245.7 220.3 11.5\nSegment Net Revenues $ 2,809.6 $ 2,537.2 10.7\nSegment Operating Profit\nYear Ended December 31, % Increase/(Decrease)\n2021 2020 2021 vs 2020\nAmericas $ 424.2 $ 401.4 5.7\nEMEA 94.9 81.3 16.6\nAsia 84.6 51.2 65.2\nOEM 56.2 44.9 25.3\nSegment Operating Profit (1) $ 659.9 $ 578.8 14.0\n(1) See Note 18 to the consolidated financial statements included in this Annual Report on Form 10-K for a reconciliation of segment",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_cash_flow",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "343m cash flow from operating activities",
      "golden_context": "Page 2:\n\nNet Cash Provided by Operating Activities\n2022\n2019\n$342.8\n47.4% Decrease\n2020\n26% 64%\n10%\n2021\nHigh-\nGrowth\nDurable\nCore\nOther\n$437.1\n$437.1\n$652.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_company_type",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 17:\n\nFor the transition period from to .\nCommission file number 1-5353\n_________________________________________________\nTELEFLEX INCORPORATED\n(Exact name of registrant as specified in its charte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_key_financials",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "2.8bn net revenues, 13.06 adjusted EPs, 342m net cash from operating activities",
      "golden_context": "Page 2:\n\nFinancial Highlights\nFROM CONTINUING OPERATIONS (Dollars in millions, except per share data)\nNet Revenues\n2022\n2019\n$2,791.0\n0.7% Decrease\n2020\n2021\n2022\nRevenues\nby Geography\n$2,595.4\n$2,537.2\n$2,809.6\nResearch and Development\n2022\n2019\n$153.8\n17.6% Increase\n2020\n59% 20%\n11%\n10%\nAmericas\n2021\n$113.9\n$119.7\n$130.8\nEurope,\nMiddle East,\nand Africa\nAsia\nPacific\nOEM\n2022 Adjusted Earnings Per Share1\n2022\n2019\n$13.06\n2.0% Decrease\n2020\n2021\n2022\nRevenues\nby Product Profile\n$11.15\n$10.67\n$13.33\nNet Cash Provided by Operating Activities\n2022\n2019\n$342.8\n47.4% Decrease\n2020\n26% 64%\n10%\n2021\nHigh-\nGrowth\nDurable\nCore\nOther\n$437.1\n$437.1\n$652.1\n¹\n_x0007_ A table reconciling adjusted earnings per share to the most directly comparable GAAP measure can be found at the end of this\nAnnual Report.\n• _x0007_ Our “high-growth” portfolio is spread across several business units, and includes UroLift®, MANTA®, EZ-IO®, and OnControl®, as\nwell as hemostatic products, PICCS, and internal stapling.\n• Our “durable core” portfolio includes Teleflex products outside of the “high-growth” and “other” categories.\n• _x0007_ Our “other” category includes sales of respiratory products not included in the divestiture to Medline, as well as urology care\nproducts and revenues associated with the manufacturing and supply transition agreements we entered into in connection\nwith the respiratory business divestiture",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_revenue",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "2.8bn",
      "golden_context": "Page 2:\n\nNet Revenues\n2022\n2019\n$2,791.0\n0.7% Decrease\n2020\n2021\n2022\nRevenues\nby Geography\n$2,595.4\n$2,537.2\n$2,809.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_revenue_growth",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "2021: 2809.6m, 2022: 2791.0m. (about -0.7%)\n",
      "golden_context": "Page 2:\n\nNet Revenues\n2022\n2019\n$2,791.0\n0.7% Decrease\n2020\n2021\n2022\nRevenues\nby Geography\n$2,595.4\n$2,537.2\n$2,809.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000094_segments",
      "report_id": "ID_000094",
      "company_name": "Teleflex",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Brands: Arrow, Deknatel, LMA, Pilling, Rüsch, UroLift, QuikClot, Weck.\n\nDesign, develop, manufacture, and supply single-use medical devices.",
      "golden_context": "Page 3:\n\nTeleflex has a strong and growing product portfolio that comprises many trusted names in medical technology,\nincluding Arrow®, Deknatel®, LMA®, Pilling®, Rüsch®, UroLift®, QuikClot®, and Weck®. Each of these brands\nholds a strong position within its market, founded on a reputation for delivering unique solutions and\nmaintaining exceptional quality. Together, our brands help us to fulfill our core purpose of improving the health\nand quality of people's lives.\n\nPage 20:\n\nITEM 1. BUSINESS\nTeleflex Incorporated is referred to herein as “we,” “us,” “our,” “Teleflex” and the “Company.”\nTHE COMPANY\nTeleflex is a global provider of medical technology products that enhance clinical benefits, improve patient and\nprovider safety and reduce total procedural costs. We primarily design, develop, manufacture and supply single-use\nmedical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in\ncritical care and surgical applications. We market and sell our products to hospitals and healthcare providers\nworldwide through a combination of our direct sales force and distributors. Because our products are used in\nnumerous markets and for a variety of procedures, we are not dependent upon any one end-market or procedure.\nOur major manufacturing operations are located in the Czech Republic, Malaysia, Mexico and the United States\n(the \"U.S.\").\nWe are focused on achieving consistent, sustainable and profitable growth and improving our financial\nperformance by increasing our market share and improving our operating efficiencies through:\n• development of new products and product line extensions;\n• investment in new technologies and broadening the application of our existing technologies;\n• expansion of the use of our products in existing markets and introduction of our products into new geographic\nmarkets;\n• achievement of economies of scale as we continue to expand by utilizing our direct sales force and distribution\nnetwork to sell new products, as well as by increasing efficiencies in our sales and marketing organizations,\nresearch and development activities and manufacturing and distribution facilities; and\n• expansion of our product portfolio through select acquisitions, licensing arrangements and business\npartnerships that enhance, expand or expedite our development initiatives or our ability to increase our market\nshare.\nOur research and development capabilities, commitment to engineering excellence and focus on low-cost\nmanufacturing enable us to bring to market cost effective, innovative products that improve the safety, efficacy and\nquality of healthcare. Our research and development initiatives focus on developing these products for both existing\nand new therapeutic applications, as well as developing enhancements to, and product line extensions of, existing\nproducts. During 2022 we introduced several product line extensions and six new products. Our portfolio of existing\nproducts and products under development consists primarily of Class I and Class II medical devices, most of which\nrequire 510(k) clearance by the U.S. Food and Drug Administration (\"FDA\") for sale in the U.S., and some of which\nare exempt from the requirement to obtain 510(k) clearance. We believe that seeking 510(k) clearance or qualifying\nfor 510(k)-exempt status reduces our research and development costs and risks, and typically results in a shorter\ntimetable for new product introductions as compared to the premarket approval, or PMA, process that would be\nrequired for Class III medical devices. See \"Government Regulation\" below for additional information.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_cash_flow",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "511.7m operating cash flow",
      "golden_context": "Page 2:\nFinancial Highlights\nFrom Continuing Operations (Dollars In Millions, Except Per Share Data)\nNet Revenues\n2023\n$2,974.5\n6.6% Increase\n2020\n$2,537.2\n2021\n$2,809.6\n2022\n$2,791.0\n2023\nRevenues\nby Geography\nResearch and Development\n2023\n$154.4\n0.4% Increase\n2021\n$130.8\n58%\nAmericas\n20%\nEurope,\nMiddle East,\nand Africa\n11%\nAsia\nPacific\n11%\nOEM\n2020\n$119.7\n2022\n$153.8\nAdjusted Earnings Per Share1\n2023\n$13.52\n3.5% Increase\n2021\n$13.33\n2020\n$10.67\n2022\n$13.06\n2023\nRevenues\nby Product Profile\nNet Cash Provided by Operating Activities\n2023\n$511.7\n49.3% Increase\n2021\n$652.1\n25%\nHigh-\nGrowth\n65%\nDurable\nCore\n10%\nOther\n2020\n$437.1\n2022\n$342.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_company_type",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 17:\n\nNT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023 or\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to .\nCommission file number 1-5353\n_________________________________________________\nTELEFLEX INCORPORATED\n(Exact name of registrant as specified in its charter)\n_________________________________________________\nDelaware 23-1147939\n(State or other jurisdiction of\nincorporation or organization) (I.R.S. employer identification no.)\n550 East Swedesford Road, Suite 400, Wayne, Pennsylvania (Address of principal executive offices) Registrant’s telephone number, including area code: (610) 225-6800\n19087\n(Zip Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value\n$1.00 per share TFX New York Stock Ex",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_key_financials",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net revenue 2975m, adjusted EPS 13.52, net cash operating activities 511.7m",
      "golden_context": "Page 2:\nFinancial Highlights\nFrom Continuing Operations (Dollars In Millions, Except Per Share Data)\nNet Revenues\n2023\n$2,974.5\n6.6% Increase\n2020\n$2,537.2\n2021\n$2,809.6\n2022\n$2,791.0\n2023\nRevenues\nby Geography\nResearch and Development\n2023\n$154.4\n0.4% Increase\n2021\n$130.8\n58%\nAmericas\n20%\nEurope,\nMiddle East,\nand Africa\n11%\nAsia\nPacific\n11%\nOEM\n2020\n$119.7\n2022\n$153.8\nAdjusted Earnings Per Share1\n2023\n$13.52\n3.5% Increase\n2021\n$13.33\n2020\n$10.67\n2022\n$13.06\n2023\nRevenues\nby Product Profile\nNet Cash Provided by Operating Activities\n2023\n$511.7\n49.3% Increase\n2021\n$652.1\n25%\nHigh-\nGrowth\n65%\nDurable\nCore\n10%\nOther\n2020\n$437.1\n2022\n$342.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_revenue",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "2975m, 2791m in the previous year",
      "golden_context": "Page 2:\nFinancial Highlights\nFrom Continuing Operations (Dollars In Millions, Except Per Share Data)\nNet Revenues\n2023\n$2,974.5\n6.6% Increase\n2020\n$2,537.2\n2021\n$2,809.6\n2022\n$2,791.0\n2023\nRevenues\nby Geography\nResearch and Development\n2023\n$154.4\n0.4% Increase\n2021\n$130.8\n58%\nAmericas\n20%\nEurope,\nMiddle East,\nand Africa\n11%\nAsia\nPacific\n11%\nOEM\n2020\n$119.7\n2022\n$153.8\nAdjusted Earnings Per Share1\n2023\n$13.52\n3.5% Increase\n2021\n$13.33\n2020\n$10.67\n2022\n$13.06\n2023\nRevenues\nby Product Profile\nNet Cash Provided by Operating Activities\n2023\n$511.7\n49.3% Increase\n2021\n$652.1\n25%\nHigh-\nGrowth\n65%\nDurable\nCore\n10%\nOther\n2020\n$437.1\n2022\n$342.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_revenue_growth",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "2975m",
      "golden_context": "Page 2:\nFinancial Highlights\nFrom Continuing Operations (Dollars In Millions, Except Per Share Data)\nNet Revenues\n2023\n$2,974.5\n6.6% Increase\n2020\n$2,537.2\n2021\n$2,809.6\n2022\n$2,791.0\n2023\nRevenues\nby Geography\nResearch and Development\n2023\n$154.4\n0.4% Increase\n2021\n$130.8\n58%\nAmericas\n20%\nEurope,\nMiddle East,\nand Africa\n11%\nAsia\nPacific\n11%\nOEM\n2020\n$119.7\n2022\n$153.8\nAdjusted Earnings Per Share1\n2023\n$13.52\n3.5% Increase\n2021\n$13.33\n2020\n$10.67\n2022\n$13.06\n2023\nRevenues\nby Product Profile\nNet Cash Provided by Operating Activities\n2023\n$511.7\n49.3% Increase\n2021\n$652.1\n25%\nHigh-\nGrowth\n65%\nDurable\nCore\n10%\nOther\n2020\n$437.1\n2022\n$342.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000095_segments",
      "report_id": "ID_000095",
      "company_name": "Teleflex",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Brands: Arrow™, Deknatel™, LMA™, Pilling™, Rüsch™, QuikClot™, UroLift™, and Weck™.\n\ndesign, develop, manufacture, and supply single-use medical devices used by hospitals and healthcare providers",
      "golden_context": "Page 3:\n\nTeleflex has a strong and growing product portfolio that comprises many trusted names in medical technology,\nincluding Arrow™, Deknatel™, LMA™, Pilling™, Rüsch™, QuikClot™, UroLift™, and Weck™. Each of these brands holds a strong\nposition within its market, founded on a reputation for delivering unique solutions and maintaining exceptional quality.\nTogether, our brands help us to fulfill our core purpose of improving the health and quality of people's lives.\n\nPage 20:\n\nTEM 1. BUSINESS\nTeleflex Incorporated is referred to herein as “we,” “us,” “our,” “Teleflex” and the “Company.”\nTHE COMPANY\nTeleflex is a global provider of medical technology products that enhance clinical benefits, improve patient and\nprovider safety and reduce total procedural costs. We primarily design, develop, manufacture and supply single-use\nmedical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in\ncritical care and surgical applications. We market and sell our products to hospitals and healthcare providers\nworldwide through a combination of our direct sales force and distributors. Because our products are used in\nnumerous markets and for a variety of procedures, we are not dependent upon any one end-market or procedure.\nOur major manufacturing operations are located in the Czech Republic, Malaysia, Mexico and the United States\n(the \"U.S.\").\nWe are focused on achieving consistent, sustainable and profitable growth and improving our financial\nperformance by increasing our market share and improving our operating efficiencies through:\n• development of new products and product line extensions;\n• investment in new technologies and broadening the application of our existing technologies;\n• expansion of the use of our products in existing markets and introduction of our products into new geographic\nmarkets;\n• achievement of economies of scale as we continue to expand by utilizing our direct sales force and distribution\nnetwork to sell new products, as well as by increasing efficiencies in our sales and marketing organizations,\nresearch and development activities and manufacturing and distribution facilities; and\n• expansion of our product portfolio through select acquisitions, licensing arrangements and business\npartnerships that enhance, expand or expedite our development initiatives or our ability to increase our market\nshare.\nOur research and development capabilities, commitment to engineering excellence and focus on low-cost\nmanufacturing enable us to bring to market cost effective, innovative products that improve the safety, efficacy and\nquality of healthcare. Our research and development initiatives focus on developing these products for both existing\nand new therapeutic applications, as well as developing enhancements to, and product line extensions of, existing\nproducts. Our portfolio of existing products and products under development consists primarily of Class I and Class\nII medical devices, most of which require 510(k) clearance by the U.S. Food and Drug Administration (\"FDA\") for\nsale in the U.S., and some of which are exempt from the requirement to obtain 510(k) clearance. We believe that\nseeking 510(k) clearance or qualifying for 510(k)-exempt status reduces our research and development costs and\nrisks, and typically results in a shorter timetable for new product introductions as compared to the premarket\napproval, or PMA, process that would be required for Class III medical devices. See \"Government Regulation\"\nbelow for additional information.\nHISTORY AND RECENT DEVELOPMENTS\nTeleflex was founded in 1943 as a manufacturer of precision mechanical push/pull controls for military aircraft.\nFrom this original single market, single produ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_cash_flow",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "566m free cash flow\n\ncash provided by operating activities: 641.1m, investing activities -349.9m, financing activities -421m, total cash flow -129.8m",
      "golden_context": "Page 3:\n\nWe delivered record sales of $3.5 billion, up 22%\nyear-over-year driven by inflation-related pricing\nactions and continued strong demand. Higher\nvolumes led to net earnings of $487.1 million\nor $3.02 per share, which is a 42% increase in\nEPS compared to last year. Free cash flow last\nyear was $566 million, and our debt-to-capital\nratio was 9.7% at the end of 2021. Our strong\nfree cash flow and solid balance sheet allow\nus to focus on capital allocation priorities and\nreturn capital to our shareholders, and for\nthe 30th consecutive year, we increased our\ndividend to shareholders. We also repurchased\napproximately five million shares of common\nstock for a total of $366.5 million in 2021.\n\nPage 38:\n\nONSOLIDATED STATEMENT OF CASH FLOWS\n( )\nYears ended December 31 (dollars in millions)\nOperating Activities\nNet earnings Adjustments to reconcile earnings to cash provided by (used in) operating\nactivities:\nDepreciation and amortization 77.9 80.0 78.3\nStock based compensation expense 11.9 12.7 13.3\nNet changes in operating assets and liabi\na lities, net of acquisitions:\nCurrent assets and liabi\na lities 90.8 130.4 32.6\nNoncurrent assets and liabilities (26.6) (5.9) (38.0)\nCash Provided by Operating Activities 641.1 562.1 456.2\nInvesting Activities\nAcquisitions of businesses (207.6) — (107.0)\nInvestments in marketable securities (185.4) (157.4) (272.7)\nProceeds from sales of marketable a securities 118.2 226.0 478.0\nCapit a al expenditures t (75.1) (56.8) (64.4)\nCash (Used in) Provided by Investing Activities (349.9) 11.8 33.9\nFinancing Activities\nLong-term debt incurred (repaid) 83.5 (170.8) 62.6\nCommon stock repurchases (366.5) (56.7) (287.7)\nNet proceeds (payments) from stock option activity 32.1 11.4 (0.5)\nPayment of contingent consideration — — (1.0)\nDividends paid (170.1) (158.7) (149.2)\nCash Used in Financing Activities (421.0) (374.8) (375.8)\nNet (decrease) increase in cash and cash equivalents (129.8) 199.1 114.3\nCash and cash equivalents-beginning of year 573.1 374.0 259.7\nCash and Cash Equivalents-End of Year $ 443.3 $ 573.1 $ 374.0\nSee accompanying notes, which are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_company_type",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 7:\n\nhington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nDelaware\n(State of Incorporation)\n11270 West Park Place, Milwaukee, Wisconsin\n(Address of Principal Executive Office)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class\nTrading\nSymbol(s)\nCommission File Number 1-475\nA. O. Smith Corporation\n(Exact name of registrant as specified in its charter)\n(414) 359-4000\nRegistrant’s telephone number, including area code\n39-0619790\n(I.R.S. Employer Identification No.)\n53224-9508\n(Zip Code)\nName of Each Exchange on\nWhich Registered\nShares of Stock Outstanding\nJanuary 31, 2022\nClass A Common Stock\nNone 25,973,661 Not listed\n(par value $5.00 per share)\nCommon Stock\nAOS 131,414,105 New York Stock Exchange\n(par value $1.00 per share)\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule R R 405 of the Securities Act. ☒ Yes Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ¨ Yes ¨ No\n☒ No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_key_financials",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "3.5bn sales",
      "golden_context": "Page 3:\n\nWe delivered record sales of $3.5 billion, up 22%\nyear-over-year driven by inflation-related pricing\nactions and continued strong demand. Higher\nvolumes led to net earnings of $487.1 million\nor $3.02 per share, which is a 42% increase in\nEPS compared to last year. Free cash flow last\nyear was $566 million, and our debt-to-capital\nratio was 9.7% at the end of 2021. Our strong\nfree cash flow and solid balance sheet allow\nus to focus on capital allocation priorities and\nreturn capital to our shareholders, and for\nthe 30th consecutive year, we increased our\ndividend to shareholders. We also repurchased\napproximately five million shares of common\nstock for a total of $366.5 million in 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_revenue",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3.5bn sales",
      "golden_context": "Page 3:\n\nWe delivered record sales of $3.5 billion, up 22%\nyear-over-year driven by inflation-related pricing\nactions and continued strong demand. Higher\nvolumes led to net earnings of $487.1 million\nor $3.02 per share, which is a 42% increase in\nEPS compared to last year. Free cash flow last\nyear was $566 million, and our debt-to-capital\nratio was 9.7% at the end of 2021. Our strong\nfree cash flow and solid balance sheet allow\nus to focus on capital allocation priorities and\nreturn capital to our shareholders, and for\nthe 30th consecutive year, we increased our\ndividend to shareholders. We also repurchased\napproximately five million shares of common\nstock for a total of $366.5 million in 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_revenue_growth",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "3.5bn sales, 22% growth",
      "golden_context": "Page 3:\n\nWe delivered record sales of $3.5 billion, up 22%\nyear-over-year driven by inflation-related pricing\nactions and continued strong demand. Higher\nvolumes led to net earnings of $487.1 million\nor $3.02 per share, which is a 42% increase in\nEPS compared to last year. Free cash flow last\nyear was $566 million, and our debt-to-capital\nratio was 9.7% at the end of 2021. Our strong\nfree cash flow and solid balance sheet allow\nus to focus on capital allocation priorities and\nreturn capital to our shareholders, and for\nthe 30th consecutive year, we increased our\ndividend to shareholders. We also repurchased\napproximately five million shares of common\nstock for a total of $366.5 million in 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000096_segments",
      "report_id": "ID_000096",
      "company_name": "AO Smith Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "North America and RoW.\n\nManufacture and market comprehensive lines of residential and commercial gas, heat pump, and electric water heaters, boilers, tanks and water treatment products.",
      "golden_context": "Page 9:\n\nITEM 1 – BUSINESS\nAs used in this annual report on Form 10-K, references to the “Company,” “A. O. Smith,\n” “AOS,\n” “we,\n” “us,” and “our”\nrefer to A. O. Smith and its consolidated subsidiaries. The following discussion should be read in conjunction with our\nconsolidated financial statements and notes thereto under “Item 8. Financial Statements and Supplementary Data” in this\nannual report on Form 10-K. Our company is comprised of two reporting segments: North America and Rest of World. Our\nRest of World segment is primarily comprised of China, Europe and India. Both segments manufacture and market\ncomprehensive lines of residential and commercial gas, heat pump and electric water heaters, boilers, tanks and water\ntreatment products. Both segments primarily manufacture and market in their respective regions of the world.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_cash_flow",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Cash provided by operating activities 391.4m, investing activities 8.1m, cash from financing activities -430.8m",
      "golden_context": "Page 25:\n\nLIQUIDITY AND CAPITAL RESOURCES\nOur working capital was $699.5 million at December 31, 2022 compared with $633.8 million at December 31, 2021. A\nmajority of the increase in working capital was driven by lower accounts payable and payroll-related accruals and higher\ninventory balances than at December 31, 2021, due to higher levels of safety stock which were partially offset by lower\naccounts receivable, and cash balances. In addition, cash balances as of December 31, 2022 were negatively impacted by\n$20.8 million due to the effects of changes in foreign currency during the year. In 2022, we repatriated approximately $120\nmillion of cash from our foreign subsidiaries to the U.S. We used the proceeds to pay down outstanding debt balances.\nYears ended December 31 (dollars in millions) 2022 2021\nCash provided by operating activities $ 391.4 $ 641.1\nCash provided by (used in) investing activities 8.1 (349.9)\nCash used in financing activities (430.8) (421.0)\nCash provided by operating activities in 2022 was $391.4 million compared with $641.1 million during 2021. The decrease in\noperating cash flows in 2022 was primarily due to lower customer deposits in China, higher 2021-related incentive payments\nmade in 2022 and additional working capital cash outlays primarily related to higher cost inventories that more than offset\nlower accounts receivable balances. Our free cash flow in 2022 and 2021 was $321.1 million and $566.0 million,\nrespectively. We expect free cash flow to be between $550 million to $600 million in 2023. Free cash flow is a non-GAAP\nmeasure and is described in more detail in the Non-GAAP Measures section below.\nOur capital expenditures were $70.3 million in 2022 and $75.1 million in 2021. We project our 2023 capital expenditures\nwill be between $70 and $75 million and expect depreciation and amortization will be approximately $70 million.\nIn 2021, we renewed and amended our $500 million revolving credit facility, which now expires on April 1, 2026. The\nrenewed and amended facility, with a group of nine banks, has an accordion provision that allows it to be increased up to\n$850 million if certain conditions (including lender approval) are satisfied. Borrowing rates under the facility are determined\nby our leverage ratio. The facility requires us to maintain two financial covenants, a leverage ratio test and an interest\ncoverage test, and we were in compliance with the covenants as of December 31, 2022, and expect to be in compliance for\nthe foreseeable future.\nThe facility backs up commercial paper and credit line borrowings. At December 31, 2022, we had $208 million outstanding\nunder the facility and an available borrowing capacity of $292 million. We believe the combination of available borrowing\ncapacity and operating cash flows will provide sufficient funds to finance our existing operations for the foreseeable future.\nOur total debt increased by $150.6 million in 2022 and was primarily due to repurchases of our common stock. Our leverage,\nas measured by the ratio of total debt to total capitalization, was 16.5 percent at December 31, 2022, compared with 9.7\npercent at December 31, 2021.\nOur remaining U.S. pension plan continues to meet all funding requirements under ERISA regulations. We were not required\nto make a contribution to our pension plan in 2022. We forecast that we will not be required to make a contribution to the\nplan in 2023, and we do not plan to make any voluntary contributions in 2023. For further information on our pension plans,\nsee the Critical Accounting Policies below and Note 13, “Pension and Other Post-retirement Benefits” of Notes to the\nConsolidated Financial Statements.\nIn 2022, our Board of Directors approved adding 3,500,000 shares of common stock to our existing discretionary share\nrepurchase authority. Under our share repurchase program, we may purchase our common stock through a combination of a\nRule 10b5-1 automatic trading plan and discretionary purchases in accordance with applicable securities laws. The stock\nrepurchase authorization remains effective until terminated by our Board of Directors, which may occur at any time, subject\nto the parameters of any Rule 10b5-1 automatic trading plan that we may then have in effect. During 2022, we repurchased\n6,647,895 shares of our stock at a total cost of $403.5 million. As of December 31, 2022, we had 378,462 shares remaining\non the share repurchase authority. On January 27, 2023, the Board of Directors approved adding 7,500,000 shares of common\nstock to the existing discretionary share repurchase authority. Including the additional shares, we have approximately 7.6\nmillion shares available for repurchase as of the date of the Board of Directors' approval. We intend to repurchase\napproximately $200 million of our common stock in 2023 through a combination of 10b5-1 plans and open-market\npurchases.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_company_type",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 5:\n\nES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nDelaware\n(State of Incorporation)\n11270 West Park Place, Milwaukee, Wisconsin\n(Address of Principal Executive Office)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class\nTrading\nSymbol(s)\nCommission File Number 1-475\nA. O. Smith Corporation\n(Exact name of registrant as specified in its charter)\n(414) 359-4000\nRegistrant’s telephone number, including area code\n39-0619790\n(I.R.S. Employer Identification No.)\n53224-9508\n(Zip Code)\nName of Each Exchange on\nWhich Registered\nShares of Stock Outstanding\nJanuary 31, 2023\nClass A Common Stock\nNone 25,905,276 Not listed\n(par value $5.00 per share)\nCommon Stock\nAOS 124,974,017 New York Stock Exchange\n(par value $1.00 per share)\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_key_financials",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 3754m, net earnings 236m",
      "golden_context": "Page 23-24:\n\nESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2022 compared with 2021. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capital Resources.” For a discussion related to 2021 compared with 2020, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2021, which was filed with the United States Securities and\nExchange Commission (SEC) on February 11, 2022, and is available on the SEC's website at www.sec.gov.\nYears Ended December 31,\n2022 2021 2020\n$ 3,753.9 $ 3,538.9 $ 2,895.3\n2,424.3 2,228.0 1,787.1\n(dollars in millions) Net sales Cost of products sold Gross profit 1,329.6 1,310.9 1,108.2\nGross profit margin % 35.4 % 37.0 % 38.3 %\nSelling, general and administrative expenses 670.9 701.4 660.3\nSeverance and restructuring expenses — — 7.7\nInterest expense 9.4 4.3 7.3\nOther expense (income)-net 425.6 (20.4) (11.0)\nEarnings before provision for income taxes 223.7 625.6 443.9\n(Benefit from) provision for income taxes (12.0) 138.5 99.0\nNet Earnings $ 235.7 $ 487.1 $ 344.9\nOur sales in 2022 were $3,753.9 million, or 6.1 percent higher than 2021 sales of $3,538.9 million. Higher sales in 2022 were\nprimarily driven by the impacts of inflation-related pricing actions partially offset by lower residential water heater volumes\nin North America and lower sales in China. In addition, our sales were negatively impacted by approximately $61 million\ncompared to last year due to the depreciation of foreign currencies against the U.S. dollar. Our acquisition of Giant added\n$94.3 million of incremental sales in 2022.\nOur gross profit margin in 2022 of 35.4 percent declined compared to 37.0 percent in 2021. The lower gross margin in 2022\nwas primarily due to higher steel and other material costs and production inefficiencies, which outpaced the impact of our\npricing actions.\nSelling, general, and administrative (SG&A) expenses were $670.9 million in 2022, or $30.5 million lower than in 2021. The\ndecrease in SG&A expenses was primarily due to the recognition of a gain from an $11.5 million judgment against a\ncompetitor related to its infringement of one of our patents, lower management incentive expenses, and lower engineering\ncosts in China.\nInterest expense was $9.4 million in 2022, compared to $4.3 million in 2021. The increase in interest expense in 2022 was\nprimarily due to higher debt levels and interest rates.\nIn 2021, our Board of Directors approved the termination of our defined benefit pension plan (the Plan) with a termination\ndate of December 31, 2021. The Plan represented over 95 percent of our pension plan liability. In the second quarter of 2022,\nwe received a determination letter from the Internal Revenue Service (IRS) that allowed us to proceed with the termination\nprocess. In the fourth quarter of 2022, the settled Plan liabilities resulted in $417.3 million of pretax pension settlement\nexpense, of which, $346.8 million was recorded in the North America segment and $70.5 million in Corporate Expense, and\nincluded $167.7 million in related tax benefits. For additional information, refer to the Critical Accounting Policies section\nunder “Pensions” below.\nOther expense (income)-net in 2022 was $425.6 million in expense compared to income of $20.4 million in 2021. In 2022,\nOther expense (income)-net reflected the $417.3 million pension settlement expense related to the termination of the Plan and\n$13.9 million in pension expenses compared to $12.0 million of pension income in 2021. To protect the Plan's funded status,\nthe Plan transferred a significant portion of its assets to lower-risk investments in 2021. The impact of this transition resulted\nin a lower expected rate of return on pension investments and, accordingly, higher pension expenses in 2022 compared to the\nprevious year. The service cost component of our pension income is reflected in cost of products sold and SG&A expenses.\nAll other components of our pension expense (income) are reflected in other expense (income)-net.\n19\nOur effective income tax rate in 2022 was lower than our effective income tax rate in 2021 primarily due to the tax effects of\nthe pension settlement expense associated with the termination of the Plan, a non-recurring $4.2 million favorable tax impact\nrecorded in the prior year periods related to amending a previously filed tax return and a change in geographic earnings mix.\nWe estimate that our annual effective income tax rate for the full year of 2023 will be approximately 24 percent.\nWe are providing non-U.S. Generally Accepted Accounting Principles (GAAP) measures (adjusted earnings, adjusted EPS,\nadjusted segment earnings and adjusted corporate expense) that exclude the impact of the pension settlement expense as well\nas the income from the legal judgment, the expenses associated with a terminated acquisition and non-operating pension\nincome and expenses. Reconciliations from GAAP measures to non-GAAP measures are provided in the Non-GAAP\nMeasures section below. We believe that the measures of adjusted earnings, adjusted EPS, adjusted segment earnings and\nadjusted corporate expense provide useful information to investors about our performance and allow management and our\ninvestors to better understand our performance between periods without regard to items that we do not consider to be a\ncomponent of our core operating performance or recurring in nature.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_revenue",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 3754m",
      "golden_context": "Page 23-24:\n\nESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2022 compared with 2021. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capital Resources.” For a discussion related to 2021 compared with 2020, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2021, which was filed with the United States Securities and\nExchange Commission (SEC) on February 11, 2022, and is available on the SEC's website at www.sec.gov.\nYears Ended December 31,\n2022 2021 2020\n$ 3,753.9 $ 3,538.9 $ 2,895.3\n2,424.3 2,228.0 1,787.1\n(dollars in millions) Net sales Cost of products sold Gross profit 1,329.6 1,310.9 1,108.2\nGross profit margin % 35.4 % 37.0 % 38.3 %\nSelling, general and administrative expenses 670.9 701.4 660.3\nSeverance and restructuring expenses — — 7.7\nInterest expense 9.4 4.3 7.3\nOther expense (income)-net 425.6 (20.4) (11.0)\nEarnings before provision for income taxes 223.7 625.6 443.9\n(Benefit from) provision for income taxes (12.0) 138.5 99.0\nNet Earnings $ 235.7 $ 487.1 $ 344.9\nOur sales in 2022 were $3,753.9 million, or 6.1 percent higher than 2021 sales of $3,538.9 million. Higher sales in 2022 were\nprimarily driven by the impacts of inflation-related pricing actions partially offset by lower residential water heater volumes\nin North America and lower sales in China. In addition, our sales were negatively impacted by approximately $61 million\ncompared to last year due to the depreciation of foreign currencies against the U.S. dollar. Our acquisition of Giant added\n$94.3 million of incremental sales in 2022.\nOur gross profit margin in 2022 of 35.4 percent declined compared to 37.0 percent in 2021. The lower gross margin in 2022\nwas primarily due to higher steel and other material costs and production inefficiencies, which outpaced the impact of our\npricing actions.\nSelling, general, and administrative (SG&A) expenses were $670.9 million in 2022, or $30.5 million lower than in 2021. The\ndecrease in SG&A expenses was primarily due to the recognition of a gain from an $11.5 million judgment against a\ncompetitor related to its infringement of one of our patents, lower management incentive expenses, and lower engineering\ncosts in China.\nInterest expense was $9.4 million in 2022, compared to $4.3 million in 2021. The increase in interest expense in 2022 was\nprimarily due to higher debt levels and interest rates.\nIn 2021, our Board of Directors approved the termination of our defined benefit pension plan (the Plan) with a termination\ndate of December 31, 2021. The Plan represented over 95 percent of our pension plan liability. In the second quarter of 2022,\nwe received a determination letter from the Internal Revenue Service (IRS) that allowed us to proceed with the termination\nprocess. In the fourth quarter of 2022, the settled Plan liabilities resulted in $417.3 million of pretax pension settlement\nexpense, of which, $346.8 million was recorded in the North America segment and $70.5 million in Corporate Expense, and\nincluded $167.7 million in related tax benefits. For additional information, refer to the Critical Accounting Policies section\nunder “Pensions” below.\nOther expense (income)-net in 2022 was $425.6 million in expense compared to income of $20.4 million in 2021. In 2022,\nOther expense (income)-net reflected the $417.3 million pension settlement expense related to the termination of the Plan and\n$13.9 million in pension expenses compared to $12.0 million of pension income in 2021. To protect the Plan's funded status,\nthe Plan transferred a significant portion of its assets to lower-risk investments in 2021. The impact of this transition resulted\nin a lower expected rate of return on pension investments and, accordingly, higher pension expenses in 2022 compared to the\nprevious year. The service cost component of our pension income is reflected in cost of products sold and SG&A expenses.\nAll other components of our pension expense (income) are reflected in other expense (income)-net.\n19\nOur effective income tax rate in 2022 was lower than our effective income tax rate in 2021 primarily due to the tax effects of\nthe pension settlement expense associated with the termination of the Plan, a non-recurring $4.2 million favorable tax impact\nrecorded in the prior year periods related to amending a previously filed tax return and a change in geographic earnings mix.\nWe estimate that our annual effective income tax rate for the full year of 2023 will be approximately 24 percent.\nWe are providing non-U.S. Generally Accepted Accounting Principles (GAAP) measures (adjusted earnings, adjusted EPS,\nadjusted segment earnings and adjusted corporate expense) that exclude the impact of the pension settlement expense as well\nas the income from the legal judgment, the expenses associated with a terminated acquisition and non-operating pension\nincome and expenses. Reconciliations from GAAP measures to non-GAAP measures are provided in the Non-GAAP\nMeasures section below. We believe that the measures of adjusted earnings, adjusted EPS, adjusted segment earnings and\nadjusted corporate expense provide useful information to investors about our performance and allow management and our\ninvestors to better understand our performance between periods without regard to items that we do not consider to be a\ncomponent of our core operating performance or recurring in nature.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_revenue_growth",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 3754m, previous year 3539m",
      "golden_context": "Page 23-24:\n\nESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2022 compared with 2021. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capital Resources.” For a discussion related to 2021 compared with 2020, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2021, which was filed with the United States Securities and\nExchange Commission (SEC) on February 11, 2022, and is available on the SEC's website at www.sec.gov.\nYears Ended December 31,\n2022 2021 2020\n$ 3,753.9 $ 3,538.9 $ 2,895.3\n2,424.3 2,228.0 1,787.1\n(dollars in millions) Net sales Cost of products sold Gross profit 1,329.6 1,310.9 1,108.2\nGross profit margin % 35.4 % 37.0 % 38.3 %\nSelling, general and administrative expenses 670.9 701.4 660.3\nSeverance and restructuring expenses — — 7.7\nInterest expense 9.4 4.3 7.3\nOther expense (income)-net 425.6 (20.4) (11.0)\nEarnings before provision for income taxes 223.7 625.6 443.9\n(Benefit from) provision for income taxes (12.0) 138.5 99.0\nNet Earnings $ 235.7 $ 487.1 $ 344.9\nOur sales in 2022 were $3,753.9 million, or 6.1 percent higher than 2021 sales of $3,538.9 million. Higher sales in 2022 were\nprimarily driven by the impacts of inflation-related pricing actions partially offset by lower residential water heater volumes\nin North America and lower sales in China. In addition, our sales were negatively impacted by approximately $61 million\ncompared to last year due to the depreciation of foreign currencies against the U.S. dollar. Our acquisition of Giant added\n$94.3 million of incremental sales in 2022.\nOur gross profit margin in 2022 of 35.4 percent declined compared to 37.0 percent in 2021. The lower gross margin in 2022\nwas primarily due to higher steel and other material costs and production inefficiencies, which outpaced the impact of our\npricing actions.\nSelling, general, and administrative (SG&A) expenses were $670.9 million in 2022, or $30.5 million lower than in 2021. The\ndecrease in SG&A expenses was primarily due to the recognition of a gain from an $11.5 million judgment against a\ncompetitor related to its infringement of one of our patents, lower management incentive expenses, and lower engineering\ncosts in China.\nInterest expense was $9.4 million in 2022, compared to $4.3 million in 2021. The increase in interest expense in 2022 was\nprimarily due to higher debt levels and interest rates.\nIn 2021, our Board of Directors approved the termination of our defined benefit pension plan (the Plan) with a termination\ndate of December 31, 2021. The Plan represented over 95 percent of our pension plan liability. In the second quarter of 2022,\nwe received a determination letter from the Internal Revenue Service (IRS) that allowed us to proceed with the termination\nprocess. In the fourth quarter of 2022, the settled Plan liabilities resulted in $417.3 million of pretax pension settlement\nexpense, of which, $346.8 million was recorded in the North America segment and $70.5 million in Corporate Expense, and\nincluded $167.7 million in related tax benefits. For additional information, refer to the Critical Accounting Policies section\nunder “Pensions” below.\nOther expense (income)-net in 2022 was $425.6 million in expense compared to income of $20.4 million in 2021. In 2022,\nOther expense (income)-net reflected the $417.3 million pension settlement expense related to the termination of the Plan and\n$13.9 million in pension expenses compared to $12.0 million of pension income in 2021. To protect the Plan's funded status,\nthe Plan transferred a significant portion of its assets to lower-risk investments in 2021. The impact of this transition resulted\nin a lower expected rate of return on pension investments and, accordingly, higher pension expenses in 2022 compared to the\nprevious year. The service cost component of our pension income is reflected in cost of products sold and SG&A expenses.\nAll other components of our pension expense (income) are reflected in other expense (income)-net.\n19\nOur effective income tax rate in 2022 was lower than our effective income tax rate in 2021 primarily due to the tax effects of\nthe pension settlement expense associated with the termination of the Plan, a non-recurring $4.2 million favorable tax impact\nrecorded in the prior year periods related to amending a previously filed tax return and a change in geographic earnings mix.\nWe estimate that our annual effective income tax rate for the full year of 2023 will be approximately 24 percent.\nWe are providing non-U.S. Generally Accepted Accounting Principles (GAAP) measures (adjusted earnings, adjusted EPS,\nadjusted segment earnings and adjusted corporate expense) that exclude the impact of the pension settlement expense as well\nas the income from the legal judgment, the expenses associated with a terminated acquisition and non-operating pension\nincome and expenses. Reconciliations from GAAP measures to non-GAAP measures are provided in the Non-GAAP\nMeasures section below. We believe that the measures of adjusted earnings, adjusted EPS, adjusted segment earnings and\nadjusted corporate expense provide useful information to investors about our performance and allow management and our\ninvestors to better understand our performance between periods without regard to items that we do not consider to be a\ncomponent of our core operating performance or recurring in nature.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000097_segments",
      "report_id": "ID_000097",
      "company_name": "AO Smith Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "North America and RoW, Manufacture and market comprehensive lines of residential and commercial gas and electric water heaters, boilers, heat pump, tanks, and water treatment products.",
      "golden_context": "Page 7:\n\nPART 1\nITEM 1 – BUSINESS\nAs used in this annual report on Form 10-K, references to the “Company,” “A. O. Smith,” “AOS,” “we,” “us,” and “our”\nrefer to A. O. Smith and its consolidated subsidiaries. The following discussion should be read in conjunction with our\nconsolidated financial statements and notes thereto under “Item 8 Financial Statements and Supplementary Data” in this\nannual report on Form 10-K. Our company is comprised of two reporting segments: North America and Rest of World. Both\nsegments manufacture and market comprehensive lines of residential and commercial gas and electric water heaters, boilers,\nheat pump, tanks and water treatment products. Both segments primarily manufacture and market in their respective regions\nof the world. Our Rest of World segment is primarily comprised of China, Europe and India.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_cash_flow",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows: operating: 670.3m, investing: -24.1m, financing: -684.7m, net cash flow total: -51.3m",
      "golden_context": "Page 36:\n\nCONSOLIDATED STATEMENT OF CASH FLOWS\n( )\nYears ended December 31 (dollars in millions)\n2023 2022 2021\nOperating Activities\nNet earnings $ 556.6 $ 235.7 $ 487.1\nAdju d activities:\nstments to reconcile earnings to cash provided by (used in) operating\nDepreciation and amortization 78.3 76.9 77.9\nStock based compensation expense 11.5 11.1 11.9\nDeferred income taxes (3.8) — —\nNon-cash impairment 15.6 — —\nPension settlement (income) expense (0.9) 417.3 —\nPension settlement non-cash taxes 0.2 (167.7) —\nNet changes in operating assets and liabilities, net of acquisitions:\nCurrent assets and liabi a lities 20.0 (194.1) 90.8\nNoncurrent assets and liabilities (7.2) 12.2 (26.6)\nCash Provided by Operating Activities 670.3 391.4 641.1\nInvesting Activities\nCapi a tal expenditures (72.6) (70.3) (75.1)\nAcquisitions (16.8) (8.0) (207.6)\nInvestments in marketable securities (63.1) (91.6) (185.4)\nNet proceeds from sales of marketable securities 128.4 178.0 118.2\nCash (Used in) Provided by Investing Activities (24.1) 8.1 (349.9)\nFinancing Activities\nLong-term debt (repaid) incurred (218.1) 150.6 83.5\nCommon stock repurchases (306.5) (403.5) (366.5)\nNet proceeds (payments) from stock option activity 23.4 (0.7) 32.1\nDividends paid (183.5) (177.2) (170.1)\nCash Used in Financing Activities (684.7) (430.8) (421.0)\nEffe f f ct of exchange rate changes on cash and cash equivalents (12.8) (20.8) —\nNet decrease in cash and cash equivalents (51.3) (52.1) (129.8)\nCash and cash equivalents-beginning of year 391.2 443.3 573.1\nCash and Cash Equivalents-End of Year $ 339.9 $ 391.2 $ 443.3\nSee accompanying notes, which are an integral part of these statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_company_type",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 5:\n\nND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANS R R ITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nDelaware\n(State of Incorporation)\n11270 West Park Place, Milwaukee, Wisconsin\n(Address of Principal Executive Offi\nf f ce)\nCommission File Number 1-475\nA. O. Smith Corporation\n(Exact name of registrant as specified in its charter)\n39-0619790\n(I.R.S. Employer Identification No.)\n53224-9508\n(Zip Code)\n(414) 359-4000\nRegistrant’s telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class\nTrading\nSymbol(s)\nClass A Common Stock\nShares of Stock Outstanding\nJanuary 31, 2024\nNone 25,887,352 Not listed\nName of Each Exchange on\nWhich Registered\n(par value $5.00 per share)\nCommon Stock\nAOS 121,307,743 New York Stock Exchange\n(par value $1.00 per share)\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ☒ Yes ¨ Yes ¨ No\n☒ No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubj u ect to such filing requirements for the past 90 days. ☒ Yes ¨ No.\nIndicate by check mark whether the registrant has subm u itted electronically every r Interactive Data File required to be subm u itted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to subm u it such files). ☒ Yes ¨ No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Ex",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_key_financials",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 3.9bn, net earnings 556.6m",
      "golden_context": "Page 24:\n\nRESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2023 compared with 2022. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capi a tal Resources.” For a discussion related to 2022 compared with 2021, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2022, which was filed with the United States Securities and\nExchange Commission (SEC) on Februa r ry 14, 2023, and is availabl a e on the SEC's website at www.sec.gov.\nYears Ended December 31,\n$ 3,852.8 $ 3,753.9 $ 3,538.9\n2,368.0 2,424.3 2,228.0\nmargin\n(dollars in millions)\n( ) 2023 2022 2021\nNet sales Cost of products sold Gross profit f f 1,484.8 1,329.6 1,310.9\nGross profit f f margin % 38.5 % 35.4 % 37.0 %\nSelling, general and administrative expenses 727.4 670.9 701.4\nRestruc\nr r turing and impairment expenses 18.8 — —\nInterest expense 12.0 9.4 4.3\nOther (income) expense-net (6.9) 425.6 (20.4)\nEarnings before provision for income taxes 733.5 223.7 625.6\nProvision for (benefit f f from) income taxes 176.9 (12.0) 138.5\nNet Earnings $ 556.6 $ 235.7 $ 487.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_revenue",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 3852.8m",
      "golden_context": "Page 24:\n\nRESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2023 compared with 2022. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capi a tal Resources.” For a discussion related to 2022 compared with 2021, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2022, which was filed with the United States Securities and\nExchange Commission (SEC) on Februa r ry 14, 2023, and is availabl a e on the SEC's website at www.sec.gov.\nYears Ended December 31,\n$ 3,852.8 $ 3,753.9 $ 3,538.9\n2,368.0 2,424.3 2,228.0\nmargin\n(dollars in millions)\n( ) 2023 2022 2021\nNet sales Cost of products sold Gross profit f f 1,484.8 1,329.6 1,310.9\nGross profit f f margin % 38.5 % 35.4 % 37.0 %\nSelling, general and administrative expenses 727.4 670.9 701.4\nRestruc\nr r turing and impairment expenses 18.8 — —\nInterest expense 12.0 9.4 4.3\nOther (income) expense-net (6.9) 425.6 (20.4)\nEarnings before provision for income taxes 733.5 223.7 625.6\nProvision for (benefit f f from) income taxes 176.9 (12.0) 138.5\nNet Earnings $ 556.6 $ 235.7 $ 487.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_revenue_growth",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 3852.8m, previous year 3753.9m",
      "golden_context": "Page 24:\n\nRESULTS OF OPERATIONS\nIn this section, we discuss the results of our operations for 2023 compared with 2022. We discuss our cash flows and current\nfinancial condition under “Liquidity and Capi a tal Resources.” For a discussion related to 2022 compared with 2021, please\nrefer to Item 7 of Part II, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our\nAnnual Report on Form 10-K for the Year Ended December 31, 2022, which was filed with the United States Securities and\nExchange Commission (SEC) on Februa r ry 14, 2023, and is availabl a e on the SEC's website at www.sec.gov.\nYears Ended December 31,\n$ 3,852.8 $ 3,753.9 $ 3,538.9\n2,368.0 2,424.3 2,228.0\nmargin\n(dollars in millions)\n( ) 2023 2022 2021\nNet sales Cost of products sold Gross profit f f 1,484.8 1,329.6 1,310.9\nGross profit f f margin % 38.5 % 35.4 % 37.0 %\nSelling, general and administrative expenses 727.4 670.9 701.4\nRestruc\nr r turing and impairment expenses 18.8 — —\nInterest expense 12.0 9.4 4.3\nOther (income) expense-net (6.9) 425.6 (20.4)\nEarnings before provision for income taxes 733.5 223.7 625.6\nProvision for (benefit f f from) income taxes 176.9 (12.0) 138.5\nNet Earnings $ 556.6 $ 235.7 $ 487.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000098_segments",
      "report_id": "ID_000098",
      "company_name": "AO Smith Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Our company is comprised of two reporting segments: North America and Rest of World. Both segments manufacture and market comprehensive lines of residential and commercial gas and electric water heaters, boilers, heat pumps, tanks and water treatment products.",
      "golden_context": "Page 7:\n\nPART 1\nITEM 1 – BUSINESS\nAs used in this annual report on Form 10-K, references to the “Company,” “A. O. Smith,\n” “AOS,\n” “we,\n” “us,” and “our”\nrefer to A. O. Smith and its consolidated subs u idiaries. The following discussion should be read in conjunction with our\nconsolidated financial statements and notes thereto under “Item 8 Financial Statements and Suppl u ementary Data” in this\nannual report on Form 10-K. Our company is comprised of two reporting segments: North America and Rest of World. Both\nf f segments manufact\nur t e and market comprehensive lines of residential and commercial gas and electric water heaters, boilers,\nheat pumps, tanks and water treatment products. Both segments primarily manufact f f ur t e and market in their respective regions\nof the world. Our Rest of World segment is primarily comprised of China, Europe and India.\nNORTH AMER M M IC R R A C C\nSales in our North America segment accounted for approximately 75 percent of our total sales in 2023. This segment serves\nresidential and commercial end markets with a broad range of products including:\nWater heaters r r . Our residential and commercial water heaters, primarily come in sizes ranging from 40 to 80 gallon models,\nhowever, we also offe f f r sizes as low as 2.5 gallon (point-of-use) and as high as 2,500 gallon products with varying effi\nf f ciency\nf f ranges. We offe\nr electric, natural gas and liquid propane tank-type models as well as tankless (gas and electric), heat pump\nand solar tank units. Typical applications for our water heaters include residences, restaurants, hotels, offi\nf f ce buildings,\nlaundries, car washes, schools and small businesses.\nBoilers. Our residential and commercial boilers range in size from 45,000 British Thermal Units (BTUs) to 6.0 million BTUs.\nBoilers are closed loop water heating systems used primarily for space heating or hydronic heating. Our boilers are primarily\nused in applications in commercial settings for hospitals, schools, hotels and other large commercial buildings while\nresidential boilers are used in homes, apartments and condominiums.\nWater treatment products. With the acquisition of Aquasana, Inc. (Aquasana) in 2016 we entered the water treatment market.\nWe expanded our product offe f f rings and geographic footpr t int with the acquisitions of Hague Quality Water International\n(Hague) in 2017, Water-Right, Inc. (Water-Right) in 2019, Master Water Conditioning Corporation (Master Water) in 2021,\nAtlantic Filter Corporation (Atlantic Filter) in 2022 and Water Tec of Tucson, Inc (Water Tec) in 2023. Our water treatment\nproducts range from point-of-entry water softeners, solutions for problem well water, whole-home water filtration products\nand point-of-use carbon r and reverse osmosis products. We also offe f f r a comprehensive line of commercial water treatment\nand filtration products. Typical applications for our water treatment products include residences, restaurants, hotels and\noffi f f ces.\nOthe t t r. In our North America segment, we also manufact\nf f ur t e expansion tanks, commercial solar water heating systems,\nswimming pool and spa heaters, related products and parts.\nA significant portion of our North America sales is derived from the replacement of existing products.\nWe believe we are the largest manufact f f ur t er and marketer of water heaters in North America with a leading share in both the\nresidential and commercial portions of the market. We expanded our presence in North Am",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_cash_flow",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows: operating: -223m, investing activities -342m, financing activities -388m, total cash flow -955m",
      "golden_context": "Page 48:\n\nAdjusted Property EBITDA at our Las Vegas Operations increased $587.2 million for the year ended December 31, 2021, primarily due to an increase in\noperating revenues, partially offset by an increase in operating expenses. Our Las Vegas Operations closed to the public on March 17, 2020, and reopened on\nJune 4, 2020 on a reduced basis.\nAdjusted Property EBITDA at Encore Boston Harbor increased $233.8 million for the year ended December 31, 2021, primarily due to an increase in\noperating revenues, partially offset by an increase in operating expenses. Encore Boston Harbor closed to the public on March 15, 2020 and reopened on July\n10, 2020 on a reduced basis.\nAdjusted Property EBITDA at Wynn Interactive was $(267.4) million and $(7.4) million for the years ended December 31, 2021 and 2020, respectively,\nprimarily due to increased marketing and promotional expenses incurred in connection with the launch of its operations in various states.\nRefer to the discussions above regarding the specific details of our results of operations.\nLiquidity and Capital Resources\nOur cash flows were as follows (in thousands):\nCash Flows - Summary Years Ended December 31,\n2021 2020\nNet cash used in operating activities $ (222,591) $ (1,072,425)\nNet cash used in investing activities:\nCapital expenditures, net of construction payables and retention (290,657) (290,115)\nPurchase of intangible and other assets (56,034) —\nCash acquired from business combination — 4,604\nProceeds from sale of assets and other 4,268 19,752\nNet cash used in investing activities (342,423) (265,759)\nNet cash (used in) provided by financing activities:\nProceeds from issuance of long-term debt 1,340,281 4,691,953\nRepayments of long-term debt (2,488,401) (2,035,354)\nProceeds from issuance of Wynn Resorts, Limited common stock 841,896 —\nProceeds from issuance of subsidiary common stock 4,662 —\nRepurchase of common stock (13,842) (11,533)\nFinance lease payments (15,658) (5,916)\nProceeds from exercise of stock options — 70\nDividends paid (1,553) (108,777)\nPayments to acquire ownership interest in subsidiary (5,433) (33,621)\nDistribution to noncontrolling interest (18,761) (6,238)\nPayments for financing costs (31,193) (27,339)\nNet cash (used in) provided by financing activities (388,002) 2,463,245\nEffect of exchange rate on cash, cash equivalents and restricted cash (2,301) 3,031\n(Decrease) increase in cash, cash equivalents and restricted cash $ (955,317) $ 1,128,092\nOperating Activities\nOur operating cash flows primarily consist of operating income (excluding depreciation and amortization and other non-cash charges), interest paid and\nearned, and changes in working capital accounts such as receivables, inventories, prepaid expenses, and payables. Our table games play is a mix of cash play\nand credit play, while our slot machine play is conducted",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_company_type",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period to\nCommission File No. 000-50028\nWYNN RESORTS, LIMITED\n(Exact name of registrant as specified in its charter)\nNevada 46-0484987\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of Each Class Common Stock, par value $0.01 3131 Las Vegas Boulevard South - Las Vegas, Nevada 89109\n(Address of principal executive offices) (Zip Code)\n(702) 770-7555\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol WYNN Name of Each Exchange on Which Registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of \"large accelerated filer,\n\" \"accelerated filer,\n\" \"smaller reporting company,\n\" and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act.\nLarge\naccelerated filer ☒ Accelerated filer ☐\nNon-\naccelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant's voting and non-voting common stock held by non-affiliates based on the closing price as reported\non the Nasdaq Global Select Market on June 30, 2021 was approximately $12.90 billion.\nAs of February 16, 2022, 115,898,704 shares of the registrant's Common Stock, $0.01 par value, were outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the registrant's Proxy Statement for its 2022 Annual Meeting of Stockholders to be filed not l",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_key_financials",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues 3763m, adjusted property EBITDA 569m",
      "golden_context": "Page 40:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (in thousands, except per share data):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,763,664 $ 2,095,861 $ 1,667,803 79.6\nNet loss attributable to Wynn Resorts, Limited (755,786) (2,067,245) (1,311,459) (63.4)\nDiluted net loss per share (6.64) (19.37) (12.73) (65.7)\nAdjusted Property EBITDA (1) 569,441 (324,305) 893,746 NM\nNM - not meaningful.\n(1) See Item 8—\n\"Financial Statements and Supplemental Data,\n\" Note 20,\n\"Segment Information,\n\" for a reconciliation of Adjusted Property EBITDA to net loss attributable to Wynn Resorts, Limited.\nThe increase in operating revenues for the year ended December 31, 2021 was primarily driven by increases of $377.6 million, $151.4 million, $755.7\nmillion, and $329.9 million from Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, as a result of increased mass\nmarket gaming volumes at Wynn Palace and Wynn Macau, and increased gaming volumes at our Las Vegas Operations and Encore Boston Harbor,\nrespectively, as well as increases in hotel occupancy, nightlife offerings, and covers at restaurants at our Las Vegas Operations. In addition, each of the\nCompany's properties was subject to partial or full closure for varying lengths of time during 2020.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2021 was primarily related to increased operating\nrevenues at our integrated resort properties, partially offset by increased operating expenses primarily due to increased gaming tax expense driven by the\nincrease in casino revenues at each property, increased marketing and promotional expenses at Wynn Interactive, and higher operating costs associated with\nhigher business volumes at our resort properties in general.\nThe increase in Adjusted Property EBITDA for the year ended December 31, 2021 was primarily driven by increased operating revenues at our integrated\nresort properties, partially offset by an increase in operating expenses. Adjusted Property EBITDA increased $241.3 million, $91.4 million, $587.2 million, and\n$233.8 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, and decreased $260.0 million at Wynn\nInteractive.\nFinancial results for the year ended December 31, 2021 compared to the year ended December 31, 2020.\nOperating revenues\nThe following table presents our operating revenues (in thousands):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 883,007 $ 505,420 $ 377,587 74.7\nWynn Macau 626,015 474,657 151,358 31.9\nTotal Macau Operations 1,509,022 980,077 528,945 54.0\nLas Vegas Operations 1,503,681 747,947 755,734 101.0\nEncore Boston Harbor 691,523 361,666 329,857 91.2\nWynn Interactive 59,438 6,171 53,267 863.2\n$ 3,763,664 $ 2,095,861 $ 1,667,803 79.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_revenue",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Operating revenues 3764m, prior year 2096m",
      "golden_context": "Page 40:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (in thousands, except per share data):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,763,664 $ 2,095,861 $ 1,667,803 79.6\nNet loss attributable to Wynn Resorts, Limited (755,786) (2,067,245) (1,311,459) (63.4)\nDiluted net loss per share (6.64) (19.37) (12.73) (65.7)\nAdjusted Property EBITDA (1) 569,441 (324,305) 893,746 NM\nNM - not meaningful.\n(1) See Item 8—\n\"Financial Statements and Supplemental Data,\n\" Note 20,\n\"Segment Information,\n\" for a reconciliation of Adjusted Property EBITDA to net loss attributable to Wynn Resorts, Limited.\nThe increase in operating revenues for the year ended December 31, 2021 was primarily driven by increases of $377.6 million, $151.4 million, $755.7\nmillion, and $329.9 million from Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, as a result of increased mass\nmarket gaming volumes at Wynn Palace and Wynn Macau, and increased gaming volumes at our Las Vegas Operations and Encore Boston Harbor,\nrespectively, as well as increases in hotel occupancy, nightlife offerings, and covers at restaurants at our Las Vegas Operations. In addition, each of the\nCompany's properties was subject to partial or full closure for varying lengths of time during 2020.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2021 was primarily related to increased operating\nrevenues at our integrated resort properties, partially offset by increased operating expenses primarily due to increased gaming tax expense driven by the\nincrease in casino revenues at each property, increased marketing and promotional expenses at Wynn Interactive, and higher operating costs associated with\nhigher business volumes at our resort properties in general.\nThe increase in Adjusted Property EBITDA for the year ended December 31, 2021 was primarily driven by increased operating revenues at our integrated\nresort properties, partially offset by an increase in operating expenses. Adjusted Property EBITDA increased $241.3 million, $91.4 million, $587.2 million, and\n$233.8 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, and decreased $260.0 million at Wynn\nInteractive.\nFinancial results for the year ended December 31, 2021 compared to the year ended December 31, 2020.\nOperating revenues\nThe following table presents our operating revenues (in thousands):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 883,007 $ 505,420 $ 377,587 74.7\nWynn Macau 626,015 474,657 151,358 31.9\nTotal Macau Operations 1,509,022 980,077 528,945 54.0\nLas Vegas Operations 1,503,681 747,947 755,734 101.0\nEncore Boston Harbor 691,523 361,666 329,857 91.2\nWynn Interactive 59,438 6,171 53,267 863.2\n$ 3,763,664 $ 2,095,861 $ 1,667,803 79.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_revenue_growth",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues 3764m",
      "golden_context": "Page 40:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (in thousands, except per share data):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,763,664 $ 2,095,861 $ 1,667,803 79.6\nNet loss attributable to Wynn Resorts, Limited (755,786) (2,067,245) (1,311,459) (63.4)\nDiluted net loss per share (6.64) (19.37) (12.73) (65.7)\nAdjusted Property EBITDA (1) 569,441 (324,305) 893,746 NM\nNM - not meaningful.\n(1) See Item 8—\n\"Financial Statements and Supplemental Data,\n\" Note 20,\n\"Segment Information,\n\" for a reconciliation of Adjusted Property EBITDA to net loss attributable to Wynn Resorts, Limited.\nThe increase in operating revenues for the year ended December 31, 2021 was primarily driven by increases of $377.6 million, $151.4 million, $755.7\nmillion, and $329.9 million from Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, as a result of increased mass\nmarket gaming volumes at Wynn Palace and Wynn Macau, and increased gaming volumes at our Las Vegas Operations and Encore Boston Harbor,\nrespectively, as well as increases in hotel occupancy, nightlife offerings, and covers at restaurants at our Las Vegas Operations. In addition, each of the\nCompany's properties was subject to partial or full closure for varying lengths of time during 2020.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2021 was primarily related to increased operating\nrevenues at our integrated resort properties, partially offset by increased operating expenses primarily due to increased gaming tax expense driven by the\nincrease in casino revenues at each property, increased marketing and promotional expenses at Wynn Interactive, and higher operating costs associated with\nhigher business volumes at our resort properties in general.\nThe increase in Adjusted Property EBITDA for the year ended December 31, 2021 was primarily driven by increased operating revenues at our integrated\nresort properties, partially offset by an increase in operating expenses. Adjusted Property EBITDA increased $241.3 million, $91.4 million, $587.2 million, and\n$233.8 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, and decreased $260.0 million at Wynn\nInteractive.\nFinancial results for the year ended December 31, 2021 compared to the year ended December 31, 2020.\nOperating revenues\nThe following table presents our operating revenues (in thousands):\nYears Ended December 31,\n2021 2020 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 883,007 $ 505,420 $ 377,587 74.7\nWynn Macau 626,015 474,657 151,358 31.9\nTotal Macau Operations 1,509,022 980,077 528,945 54.0\nLas Vegas Operations 1,503,681 747,947 755,734 101.0\nEncore Boston Harbor 691,523 361,666 329,857 91.2\nWynn Interactive 59,438 6,171 53,267 863.2\n$ 3,763,664 $ 2,095,861 $ 1,667,803 79.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000099_segments",
      "report_id": "ID_000099",
      "company_name": "Wynn Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Designer, developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, dining and entertainment options, meeting and convention facilities, and gaming.",
      "golden_context": "Page 3:\n\nItem 1. Business\nOur Company\nWynn Resorts, Limited (\"Wynn Resorts,\n\" or together with its subsidiaries,\n\"we\" or the \"Company\") is a preeminent designer, developer, and operator of\nintegrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and\ngaming, all supported by an unparalleled focus on our guests, our people, and our community. We believe that our extensive design and operational experience\nacross numerous gaming jurisdictions provides us with a distinct advantage over other gaming enterprises.\nThrough our approximately 72% ownership of Wynn Macau, Limited (\"WML\"), we operate two integrated resorts in the Macau Special Administrative\nRegion of the People's Republic of China (\"Macau\"), Wynn Palace and Wynn Macau (collectively, our \"Macau Operations\"). In Las Vegas, Nevada, we operate\nand, with the exception of certain retail space, own 100% of Wynn Las Vegas and Encore at Wynn Las Vegas, which we also refer to as our Las Vegas\nOperations. On June 23, 2019, we opened Encore Boston Harbor, an integrated resort in Everett, Massachusetts. In addition, we hold an approximately 74%\ninterest in Wynn Interactive Ltd. (\"Wynn Interactive\"), which operates our digital sports betting and casino gaming business.\nWynn Resorts files annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments of such reports with the\nSecurities and Exchange Commission (\"SEC\"). Any document Wynn Resorts files may be inspected, without charge, at the SEC's website at\nhttp://www.sec.gov. Information related to the operation of the SEC's public reference room may be obtained by calling the SEC at 1-800-SEC-0330. In\naddition, through our corporate website at www.wynnresorts.com, Wynn Resorts provides a hyperlink to a third-party SEC filing website which posts these\nfilings as soon as reasonably practicable, where they can be reviewed without charge. The information found on our website is not a part of this Annual Report\non Form 10-K or any other report we file with or furnish to the SEC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_cash_flow",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows: operating -71m, financing: -24m, investing 1349m, total cash flow: 1252m",
      "golden_context": "Page 47:\n\niquidity and Capital Resources\nOur cash flows were as follows (in thousands):\nCash Flows - Summary Net cash used in operating activities Year Ended December 31,\n2022 2021\n$ (71,272) $ (222,591)\nNet cash provided by (used in) investing activities:\nCapital expenditures, net of construction payables and retention Purchase of intangible and other assets Proceeds from EBH Transaction 1,700,000\nProceeds from sale of assets and other Net cash provided by (used in) investing activities (300,127) (290,657)\n(52,377) (56,034)\n—\n1,471 4,268\n1,348,967 (342,423)\nNet cash used in financing activities:\nProceeds from issuance of long-term debt 211,435 1,340,281\nRepayments of long-term debt (50,000) (2,488,401)\nProceeds from issuance of Wynn Resorts, Limited common stock —\n841,896\nRepurchase of common stock (187,499) (13,842)\nProceeds from issuance of subsidiary common stock 2,895 4,662\nProceeds from sale of noncontrolling interest in subsidiary 50,033\n—\nPayments to acquire ownership interest in subsidiary —\n(5,433)\nDistribution to noncontrolling interest (27,744) (18,761)\nDividends paid (1,445) (1,553)\nFinance lease payments (18,188) (15,658)\nPayments for financing costs (3,165) (31,193)\nNet cash used in financing activities (23,678) (388,002)\nEffect of exchange rate on cash, cash equivalents and restricted cash Increase (decrease) in cash, cash equivalents and restricted cash (2,094) (2,301)\n$ 1,251,923 $ (955,317)\nOperating Activities\nOur operating cash flows primarily consist of operating income (excluding depreciation and amortization and other non-cash charges), interest paid and\nearned, and changes in working capital accounts such as receivables, inventories, prepaid expenses, and payables. Our table games play is a mix of cash play\nand credit play, while our slot machine play is conducted primarily on a cash basis. A significant portion of our table games revenue is attributable to the play\nof a limited number of premium customers who gamble on credit. The ability to collect these gaming receivables may impact our operating cash flow for the\nperiod. Our rooms, food and beverage, and entertainment, retail and other revenue is conducted on a cash and credit basis. Accordingly, operating cash flows\nwill be impacted by changes in operating income and accounts receivable, net.\nDuring the year ended December 31, 2022, the decrease in net cash used in operating activities was primarily due to a decrease in marketing expenses\nrelated to Wynn Interactive and an increase in customer deposits.\nDuring the year ended December 31, 2021, the decrease in net cash used in operating activities was primarily due to increased operating revenues,\npartially offset by an increase in operating expenses and changes in working capital accounts, including a decrease in customer deposits primarily due to\nwithdrawals by gaming promoters.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_company_type",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period to\nCommission File No. 000-50028\nWYNN RESORTS, LIMITED\n(Exact name of registrant as specified in its charter)\nNevada 46-0484987\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of Each Class Common Stock, par value $0.01 3131 Las Vegas Boulevard South - Las Vegas, Nevada 89109\n(Address of principal executive offices) (Zip Code)\n(702) 770-7555\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol WYNN Name of Each Exchange on Which Registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of \"large accelerated filer,\n\" \"accelerated filer,\n\" \"smaller reporting company,\n\" and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_key_financials",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues 3757m, diluted net loss per share -3.73.",
      "golden_context": "Page 38:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (dollars in thousands, except per share data):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,756,825 $ 3,763,664 $ (6,839) (0.2)\nNet loss attributable to Wynn Resorts, Limited (423,856) (755,786) (331,930) (43.9)\nDiluted net loss per share (3.73) (6.64) (2.91) (43.8)\nThe decrease in operating revenues for the year ended December 31, 2022 was primarily driven by decreases of $472.7 million and $314.8 million at\nWynn Palace and Wynn Macau, respectively, resulting from decreased gaming volumes due to certain travel-related restrictions and conditions, including\nCOVID-19 testing and other procedures related to the COVID-19 pandemic. The decrease in operating revenues was partially offset by increases in operating\nrevenues of $628.5 million and $139.6 million from our Las Vegas Operations and Encore Boston Harbor, respectively, as a result of increased gaming volumes\nas well as increases in hotel occupancy and covers at restaurants.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2022 was primarily related to a gain recognized upon\nclosing of the EBH Transaction and decreased marketing costs at Wynn Interactive.\nFinancial results for the year ended December 31, 2022 compared to the year ended December 31, 2021.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 410,289 $ 883,007 $ (472,718) (53.5)\nWynn Macau 311,249 626,015 (314,766) (50.3)\nTotal Macau Operations 721,538 1,509,022 (787,484) (52.2)\nLas Vegas Operations 2,132,136 1,503,681 628,455 41.8\nEncore Boston Harbor 831,073 691,523 139,550 20.2\nWynn Interactive 72,078 59,438 12,640 21.3\n$ 3,756,825 $ 3,763,664 $ (6,839) (0.2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_revenue",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Operating revenues 3757m",
      "golden_context": "Page 38:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (dollars in thousands, except per share data):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,756,825 $ 3,763,664 $ (6,839) (0.2)\nNet loss attributable to Wynn Resorts, Limited (423,856) (755,786) (331,930) (43.9)\nDiluted net loss per share (3.73) (6.64) (2.91) (43.8)\nThe decrease in operating revenues for the year ended December 31, 2022 was primarily driven by decreases of $472.7 million and $314.8 million at\nWynn Palace and Wynn Macau, respectively, resulting from decreased gaming volumes due to certain travel-related restrictions and conditions, including\nCOVID-19 testing and other procedures related to the COVID-19 pandemic. The decrease in operating revenues was partially offset by increases in operating\nrevenues of $628.5 million and $139.6 million from our Las Vegas Operations and Encore Boston Harbor, respectively, as a result of increased gaming volumes\nas well as increases in hotel occupancy and covers at restaurants.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2022 was primarily related to a gain recognized upon\nclosing of the EBH Transaction and decreased marketing costs at Wynn Interactive.\nFinancial results for the year ended December 31, 2022 compared to the year ended December 31, 2021.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 410,289 $ 883,007 $ (472,718) (53.5)\nWynn Macau 311,249 626,015 (314,766) (50.3)\nTotal Macau Operations 721,538 1,509,022 (787,484) (52.2)\nLas Vegas Operations 2,132,136 1,503,681 628,455 41.8\nEncore Boston Harbor 831,073 691,523 139,550 20.2\nWynn Interactive 72,078 59,438 12,640 21.3\n$ 3,756,825 $ 3,763,664 $ (6,839) (0.2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_revenue_growth",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues 3757m, prior year 3764m ",
      "golden_context": "Page 38:\n\nResults of Operations\nSummary annual results\nThe following table summarizes our financial results for the periods presented (dollars in thousands, except per share data):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues $ 3,756,825 $ 3,763,664 $ (6,839) (0.2)\nNet loss attributable to Wynn Resorts, Limited (423,856) (755,786) (331,930) (43.9)\nDiluted net loss per share (3.73) (6.64) (2.91) (43.8)\nThe decrease in operating revenues for the year ended December 31, 2022 was primarily driven by decreases of $472.7 million and $314.8 million at\nWynn Palace and Wynn Macau, respectively, resulting from decreased gaming volumes due to certain travel-related restrictions and conditions, including\nCOVID-19 testing and other procedures related to the COVID-19 pandemic. The decrease in operating revenues was partially offset by increases in operating\nrevenues of $628.5 million and $139.6 million from our Las Vegas Operations and Encore Boston Harbor, respectively, as a result of increased gaming volumes\nas well as increases in hotel occupancy and covers at restaurants.\nThe decrease in net loss attributable to Wynn Resorts, Limited for the year ended December 31, 2022 was primarily related to a gain recognized upon\nclosing of the EBH Transaction and decreased marketing costs at Wynn Interactive.\nFinancial results for the year ended December 31, 2022 compared to the year ended December 31, 2021.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2022 2021 Increase/ (Decrease) Percent Change\nOperating revenues\nMacau Operations:\nWynn Palace $ 410,289 $ 883,007 $ (472,718) (53.5)\nWynn Macau 311,249 626,015 (314,766) (50.3)\nTotal Macau Operations 721,538 1,509,022 (787,484) (52.2)\nLas Vegas Operations 2,132,136 1,503,681 628,455 41.8\nEncore Boston Harbor 831,073 691,523 139,550 20.2\nWynn Interactive 72,078 59,438 12,640 21.3\n$ 3,756,825 $ 3,763,664 $ (6,839) (0.2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000100_segments",
      "report_id": "ID_000100",
      "company_name": "Wynn Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Designer, developer, operator of integrated resorts featuring luxury hotel rooms, high-end retail space, dining, and entertainment options, meeting, and convention facilities, and gaming.",
      "golden_context": "Page 4:\n\nItem 1. Business\nOur Company\nWynn Resorts, Limited (\"Wynn Resorts,\n\" or together with its subsidiaries,\n\"we\" or the \"Company\") is a preeminent designer, developer, and operator of\nintegrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and\ngaming, all supported by an unparalleled focus on our guests, our people, and our community. We believe that our extensive design and operational experience\nacross numerous gaming jurisdictions provides us with a distinct advantage over other gaming enterprises.\nThrough our approximately 72% ownership of Wynn Macau, Limited (\"WML\"), we operate two integrated resorts in the Macau Special Administrative\nRegion of the People's Republic of China (\"Macau\"), Wynn Palace and Wynn Macau (collectively, our \"Macau Operations\"). In Las Vegas, Nevada, we operate\nand, with the exception of certain retail space, own 100% of Wynn Las Vegas and Encore at Wynn Las Vegas, which we also refer to as our Las Vegas\nOperations. In Everett, Massachusetts, we operate Encore Boston Harbor, an integrated resort. In addition, we hold an approximately 97% interest in Wynn\nInteractive Ltd. (\"Wynn Interactive\"), which operates WynnBet, our digital sports betting and casino gaming business.\nOur annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all other reports and any amendments of such reports\nfiled with or furnished to the Securities and Exchange Commission (\"SEC\") are available, without charge, at the SEC's website at http://www.sec.gov. In\naddition, through our corporate website at www.wynnresorts.com, Wynn Resorts provides a hyperlink to a third-party SEC filing website which makes\navailable all such reports and amendments and where they can be viewed without charge. The information found on or linked through our website is not\nincorporated by reference into this Annual Report on Form 10-K, nor does it form a part of this Annual Report on Form 10-K or any other report we file with or\nfurnish to the SEC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_cash_flow",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows:\noperating: 1248m\ninvesting: -1343m\nfinancing: -719m\ntotal: -813m",
      "golden_context": "Page 45:\n\nLiquidity and Capital Resources\nOur cash flows were as follows (in thousands):\nYear Ended December 31,\nCash Flows - Summary 2023 2022\nNet cash provided by (used in) operating activities $ 1,247,879 $ (71,272)\nNet cash (used in) provided by investing activities:\nCapital expenditures, net of construction payables and retention (442,793) (300,127)\nPurchase of investments (836,519) —\nPurchase of intangible and other assets (64,383) (52,377)\nProceeds from EBH Transaction — 1,700,000\nProceeds from sale of assets and other 1,162 1,471\nNet cash (used in) provided by investing activities (1,342,533) 1,348,967\nNet cash used in financing activities:\nProceeds from issuance of long-term debt 1,200,000 211,435\nRepayments of long-term debt (1,533,124) (50,000)\nRepurchase of common stock (212,455) (187,499)\nProceeds from exercise of stock options 1,965 —\nProceeds from issuance of subsidiary common stock — 2,895\nProceeds from sale of noncontrolling interest in subsidiary — 50,033\nDistribution to noncontrolling interest (22,579) (27,744)\nDividends paid (84,733) (1,445)\nFinance lease payments (19,267) (18,188)\nPayments for financing costs (41,240) (3,165)\nOther (7,773) —\nNet cash used in financing activities (719,206) (23,678)\nEffect of exchange rate on cash, cash equivalents and restricted cash 282 (2,094)\n(Decrease) increase in cash, cash equivalents and restricted cash $ (813,578) $ 1,251,923",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_company_type",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period to\nCommission File No. 000-50028\nWYNN RESORTS, LIMITED\n(Exact name of registrant as specified in its charter)\nNevada 46-0484987\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\nTitle of Each Class 3131 Las Vegas Boulevard South - Las Vegas, Nevada 89109\n(Address of principal executive offices) (Zip Code)\n(702) 770-7555\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol Name of Each Exchange on Which Registered\nCommon Stock, par value $0.01 per share WYNN Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_key_financials",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 6532m, financing cash flow -719m, net change in cash -814m\n",
      "golden_context": "Page 38:\n\nFinancial results for the year ended December 31, 2023 compared to the year ended December 31, 2022.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nOperating revenues\nMacau Operations:\nWynn Palace $ 1,886,844 $ 410,289 $ 1,476,555 359.9\nWynn Macau 1,213,534 311,249 902,285 289.9\nTotal Macau Operations 3,100,378 721,538 2,378,840 329.7\nLas Vegas Operations 2,480,606 2,132,136 348,470 16.3\nEncore Boston Harbor 865,786 831,073 34,713 4.2\nWynn Interactive 85,127 72,078 13,049 18.1\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nThe following table presents our casino and non-casino operating revenues (dollars in thousands):\nOperating revenues\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nCasino revenues $ 3,718,402 $ 1,632,541 $ 2,085,861 127.8\nNon-casino revenues:\nRooms 1,185,671 802,138 383,533 47.8\nFood and beverage 1,028,637 846,214 182,423 21.6\nEntertainment, retail and other 599,187 475,932 123,255 25.9\nTotal non-casino revenues 2,813,495 2,124,284 689,211 32.4\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nCasino revenues for the year ended December 31, 2023 were 56.9% of operating revenues, compared to 43.5% for the\nyear ended December 31, 2022. Non-casino revenues for the year ended December 31, 2023 were 43.1% of operating\nrevenues, compared to 56.5% for the year ended December 31, 2022.Page 45:\n\nLiquidity and Capital Resources\nOur cash flows were as follows (in thousands):\nYear Ended December 31,\nCash Flows - Summary 2023 2022\nNet cash provided by (used in) operating activities $ 1,247,879 $ (71,272)\nNet cash (used in) provided by investing activities:\nCapital expenditures, net of construction payables and retention (442,793) (300,127)\nPurchase of investments (836,519) —\nPurchase of intangible and other assets (64,383) (52,377)\nProceeds from EBH Transaction — 1,700,000\nProceeds from sale of assets and other 1,162 1,471\nNet cash (used in) provided by investing activities (1,342,533) 1,348,967\nNet cash used in financing activities:\nProceeds from issuance of long-term debt 1,200,000 211,435\nRepayments of long-term debt (1,533,124) (50,000)\nRepurchase of common stock (212,455) (187,499)\nProceeds from exercise of stock options 1,965 —\nProceeds from issuance of subsidiary common stock — 2,895\nProceeds from sale of noncontrolling interest in subsidiary — 50,033\nDistribution to noncontrolling interest (22,579) (27,744)\nDividends paid (84,733) (1,445)\nFinance lease payments (19,267) (18,188)\nPayments for financing costs (41,240) (3,165)\nOther (7,773) —\nNet cash used in financing activities (719,206) (23,678)\nEffect of exchange rate on cash, cash equivalents and restricted cash 282 (2,094)\n(Decrease) increase in cash, cash equivalents and restricted cash $ (813,578) $ 1,251,923",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_revenue",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Operating revenues: 6532m",
      "golden_context": "Page 38:\n\nFinancial results for the year ended December 31, 2023 compared to the year ended December 31, 2022.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nOperating revenues\nMacau Operations:\nWynn Palace $ 1,886,844 $ 410,289 $ 1,476,555 359.9\nWynn Macau 1,213,534 311,249 902,285 289.9\nTotal Macau Operations 3,100,378 721,538 2,378,840 329.7\nLas Vegas Operations 2,480,606 2,132,136 348,470 16.3\nEncore Boston Harbor 865,786 831,073 34,713 4.2\nWynn Interactive 85,127 72,078 13,049 18.1\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nThe following table presents our casino and non-casino operating revenues (dollars in thousands):\nOperating revenues\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nCasino revenues $ 3,718,402 $ 1,632,541 $ 2,085,861 127.8\nNon-casino revenues:\nRooms 1,185,671 802,138 383,533 47.8\nFood and beverage 1,028,637 846,214 182,423 21.6\nEntertainment, retail and other 599,187 475,932 123,255 25.9\nTotal non-casino revenues 2,813,495 2,124,284 689,211 32.4\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nCasino revenues for the year ended December 31, 2023 were 56.9% of operating revenues, compared to 43.5% for the\nyear ended December 31, 2022. Non-casino revenues for the year ended December 31, 2023 were 43.1% of operating\nrevenues, compared to 56.5% for the year ended December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_revenue_growth",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues: 6532m, prior year 3757m",
      "golden_context": "Page 38:\n\nFinancial results for the year ended December 31, 2023 compared to the year ended December 31, 2022.\nOperating revenues\nThe following table presents our operating revenues (dollars in thousands):\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nOperating revenues\nMacau Operations:\nWynn Palace $ 1,886,844 $ 410,289 $ 1,476,555 359.9\nWynn Macau 1,213,534 311,249 902,285 289.9\nTotal Macau Operations 3,100,378 721,538 2,378,840 329.7\nLas Vegas Operations 2,480,606 2,132,136 348,470 16.3\nEncore Boston Harbor 865,786 831,073 34,713 4.2\nWynn Interactive 85,127 72,078 13,049 18.1\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nThe following table presents our casino and non-casino operating revenues (dollars in thousands):\nOperating revenues\nYear Ended December 31,\n2023 2022\nIncrease/\n(Decrease)\nPercent\nChange\nCasino revenues $ 3,718,402 $ 1,632,541 $ 2,085,861 127.8\nNon-casino revenues:\nRooms 1,185,671 802,138 383,533 47.8\nFood and beverage 1,028,637 846,214 182,423 21.6\nEntertainment, retail and other 599,187 475,932 123,255 25.9\nTotal non-casino revenues 2,813,495 2,124,284 689,211 32.4\n$ 6,531,897 $ 3,756,825 $ 2,775,072 73.9\nCasino revenues for the year ended December 31, 2023 were 56.9% of operating revenues, compared to 43.5% for the\nyear ended December 31, 2022. Non-casino revenues for the year ended December 31, 2023 were 43.1% of operating\nrevenues, compared to 56.5% for the year ended December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000101_segments",
      "report_id": "ID_000101",
      "company_name": "Wynn Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "reeminent designer, developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming",
      "golden_context": "Page 5:\n\nItem 1. Business\nOur Company\nWynn Resorts, Limited (“Wynn Resorts,” “Wynn,” or together with its subsidiaries, “we” or the “Company”) is a\npreeminent designer, developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, an array\nof dining and entertainment options, meeting and convention facilities, and gaming, all supported by an unparalleled focus on\nour guests, our people, and our community. We believe that our extensive design and operational experience across numerous\ngaming jurisdictions provides us with a distinct advantage over other gaming enterprises.\nThrough our approximately 72% ownership of Wynn Macau, Limited (“WML”), we operate two integrated resorts in the\nMacau Special Administrative Region of the People’s Republic of China (“Macau”), Wynn Palace and Wynn Macau\n(collectively, our “Macau Operations”). In Las Vegas, Nevada, we operate and, with the exception of certain retail space, own\n100% of Wynn Las Vegas and Encore at Wynn Las Vegas, which we also refer to as our Las Vegas Operations. In Everett,\nMassachusetts, we operate Encore Boston Harbor, an integrated resort. In addition, we hold an approximately 97% interest in\nWynn Interactive Ltd. (“Wynn Interactive”), which operates WynnBET, our digital sports betting and casino gaming business.\nAdditionally, the Company has a 40% equity interest in Island 3 AMI FZ-LLC, an unconsolidated affiliate, which is currently\nconstructing an integrated resort property (“Wynn Al Marjan Island”) in Ras Al Khaimah, United Arab Emirates.\nOur annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all other reports and\nany amendments of such reports filed with or furnished to the Securities and Exchange Commission (“SEC”) are available,\nwithout charge, at the SEC’s website at http://www.sec.gov. In addition, through our corporate website at\nwww.wynnresorts.com, Wynn Resorts provides a hyperlink to a third-party SEC filing website which makes available all such\nreports and amendments and where they can be viewed without charge. The information found on or linked through our\nwebsite is not incorporated by reference into this Annual Report on Form 10-K, nor does it form a part of this Annual Report\non Form 10-K or any other report we file with or furnish to the SEC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_cash_flow",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "282m operating cash flow, -67m investing, -190m financing, 18 total cash flow",
      "golden_context": "Page 164:\n\nDuring the past two years, our cash flows were as follows:\nYear Ended December 31,\nNet cash provided by operating activities ($ in thousands)\n$ 282,091 $ 404,489 $ (122,398) (30.3) %\nNet cash provided by (used in) investing activities Net cash (used in) financing activities (189,775) (145,112) (44,663) 30.8\nEffect of exchange rate changes on cash and cash equivalents $ %\n2021 2020 Change Change\n(67,694) (7,105) 68,867 5,553 (136,561) (12,658) (198.3)\n(227.9)\nNet increase for the period $ 17,517 $ 333,797 $ (316,280) (94.8) %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_company_type",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 7:\n\nMarketAxess Holdings Inc.\n55 Hudson Yards, 15th Floor\nNew York, New York 10001\nApril 27, 2022\nTO THE STOCKHOLDERS OF MARKETAXESS HOLDINGS INC.:\nYou are invited to attend the 2022 Annual Meeting of Stockholders (the_x0093_Annual Meeting_x0094_) of MarketAxess\nHoldings Inc. (the_x0093_Company_x0094_) scheduled for Wednesday, June 8, 2022 at 10:00 a.m., Eastern Daylight Time. The\nAnnual Meeting will be a virtual meeting of stockholders. You will be able to participate in the Annual Meeting,\nvote and submit your questions via live webcast by visiting www.virtualshareholdermeeting.com/MKTX2022. The\nCompany_x0092_s Board of Directors and management look forward to your participation.\nDetails of the business to be conducted at the Annual Meeting are given in the attached Notice of Annual\nMeeting and Proxy Statement, which you are urged to read carefully.\nWe are pleased to take advantage of the U.S. Securities and Exchange Commission (_x0093_SEC_x0094_) rules that allow\nissuers to furnish proxy materials to their stockholders on the Internet. We believe these rules allow us to\nprovide our stockholders with the information they need, while lowering the costs of delivery and reducing the\nenvironmental impact of our Annual Meeting. On April 27, 2022, we expect to mail to our stockholders a Notice\nof Internet Availability of Proxy Materials (_x0093_Notice_x0094_) containing instructions on how to access our Proxy Statement\nand Annual Report on Form 10-K for the year ended December 31, 2021 online and how to vote. The Notice\ncontains instructions on how you can receive a paper copy of the Proxy Statement, proxy card and Annual\nReport if you only received a Notice by mail.\nYour vote is important to us. Whether or not you plan to attend the Annual Meeting, your shares should be\nrepresented and voted. After reading the Proxy Statement, please cast your vote via the Internet or telephone or\ncomplete, sign, date and return the proxy card in the pre-addressed envelope that we have included for your\nconvenience if you received paper copies. If you hold your shares in a stock brokerage account, please check\nyour proxy card or contact your broker or nominee to determine whether you will be able to vote via the Internet\nor by telephone or how to instruct your broker to vote on your behalf.\nOn behalf of the Board of Directors, thank you for your continued support.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_key_financials",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "699m revenue",
      "golden_context": "Page 3:\n\nMarketAxess made substantial progress in our long-term growth strategy in 2021. In a year when\nmarket conditions were markedly less favorable than in 2020, we reported a record $699 million in\nrevenue in 2021, the 13th consecutive year of record annual revenue. As a result, over the two\npandemic years of 2020 and 2021, revenue grew at a 2-year compound annual growth rate of 17%,\nabove our long-term revenue CAGR of 15%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_revenue",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "699m revenues",
      "golden_context": "Page 46:\n\nCOMPENSATION DISCUSSION AND ANALYSIS\nKey performance metrics\nOur key performance metrics include:\nTotal Revenues:\n$800\n$600\n$400\nOperating Income:\n$450\n$689\n$699\n14%\nCAGR\n$375\n12%\nCAGR\n$337\n$511\n$300\n$436\n$251\n$393\n$213\n$200\n$150\n$200\n$0\n2017 2018 2019 2021\n2020\nA 32% increase in revenue in 2020, driven by a\nsignificant increase in volatility during the year, made\nfor tough year-over-year comparisons in 2021, as\ncredit spreads and credit spread volatility decreased\nsignificantly, and estimated U.S. credit market TRACE\nvolumes declined 7%. While market conditions were\nmore challenging in 2021, the Company reported a\nrecord $699 million in revenue, the 13th consecutive\nyear of record revenue. Partially offsetting the weaker\nU.S. credit environment was a strong performance in\nour international growth cylinders, Eurobond trading\nand emerging markets trading as well as higher post-\ntrade revenue with the acquisition of Regulatory\nReporting Hub, which closed at the end of 2020.\nFurthermore, revenue growth over the combined\n2020-2021 period grew at a CAGR of 17%, above our\n5-year revenue growth rate, and in line with the long-\nterm revenue growth trajectory for the Company.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_revenue_growth",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "699m current year, 689 previous year",
      "golden_context": "Page 46:\n\nCOMPENSATION DISCUSSION AND ANALYSIS\nKey performance metrics\nOur key performance metrics include:\nTotal Revenues:\n$800\n$600\n$400\nOperating Income:\n$450\n$689\n$699\n14%\nCAGR\n$375\n12%\nCAGR\n$337\n$511\n$300\n$436\n$251\n$393\n$213\n$200\n$150\n$200\n$0\n2017 2018 2019 2021\n2020\nA 32% increase in revenue in 2020, driven by a\nsignificant increase in volatility during the year, made\nfor tough year-over-year comparisons in 2021, as\ncredit spreads and credit spread volatility decreased\nsignificantly, and estimated U.S. credit market TRACE\nvolumes declined 7%. While market conditions were\nmore challenging in 2021, the Company reported a\nrecord $699 million in revenue, the 13th consecutive\nyear of record revenue. Partially offsetting the weaker\nU.S. credit environment was a strong performance in\nour international growth cylinders, Eurobond trading\nand emerging markets trading as well as higher post-\ntrade revenue with the acquisition of Regulatory\nReporting Hub, which closed at the end of 2020.\nFurthermore, revenue growth over the combined\n2020-2021 period grew at a CAGR of 17%, above our\n5-year revenue growth rate, and in line with the long-\nterm revenue growth trajectory for the Company.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000102_segments",
      "report_id": "ID_000102",
      "company_name": "MarketAxess",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Trading of fixed-income securities, provision of related data, analytics, compliance tools, and post-trade services.",
      "golden_context": "Page 158:\n\nSegment Results\nWe operate electronic platforms for the trading of fixed-income securities and provide related data, analytics, compliance tools\nand post-trade services. We consider our operations to constitute a single business segment because of the highly integrated nature of\nthese product and services, the financial markets in which we compete and our worldwide business activities. We believe that results by\ngeographic region or client sector are not necessarily meaningful in understanding our business. See Note 16 to the Consolidated\nFinancial Statements for certain geographic information about our business required by U.S. GAAP.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_cash_flow",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows operating 289m, cash flows investing -86m, financing activities -242m, total cash flow (net change for the period) -53m",
      "golden_context": "Page 167: \n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n2022 2021 2020\n(In thousands)\nCash flows from operating activities\nNet income $ 250,224 $ 257,888 $ 299,377\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 61,446 53,447 35,996\nAmortization of operating lease right-of-use assets 5,708 6,799 6,842\nStock-based compensation expense 29,864 27,314 25,613\nDeferred taxes (6,547) 3,118 10,099\nForeign currency transaction gains (8,783) — —\nOther 555 (466) (550)\nChanges in operating assets and liabilities:\n(Increase) decrease in accounts receivable (15,136) 15,598 (18,015)\n(Increase) in receivables from broker-dealers, clearing organizations and customers (47,631) (156,909) (182,871)\n(Increase) decrease in prepaid expenses and other assets (4,249) 2,214 (1,977)\n(Increase) decrease in trading investments (49,527) (5,574) 67,952\nDecrease (increase) in mutual funds held in rabbi trust 1,813 (2,306) (2,671)\n(Decrease) increase in accrued employee compensation (3,417) (2,607) 14,961\nIncrease in payables to broker-dealers, clearing organizations and customers 74,668 95,999 133,326\n(Decrease) increase in income and other tax liabilities (4,768) (5,638) 16,189\nIncrease in accounts payable, accrued expenses and other liabilities 11,384 215 6,006\n(Decrease) in operating lease liabilities (6,373) (7,001) (5,788)\nNet cash provided by operating activities 289,231 282,091 404,489\nCash flows from investing activities\nAcquisitions, net of cash and cash equivalents acquired — (17,078) (23,297)\nAcquisition of equity method investment (34,400) — —\nAvailable-for-sale investments\nProceeds from maturities and sales — — 170,657\nPurchases — — (32,865)\nPurchases of furniture, equipment and leasehold improvements (13,142) (17,493) (15,010)\nCapitalization of software development costs (38,730) (33,123) (30,618)\nNet cash (used in) provided by investing activities (86,272) (67,694) 68,867\nCash flows from financing activities\nCash dividend on common stock (105,942) (99,792) (90,566)\nExercise of stock options 672 7,096 4,007\nWithholding tax payments on restricted stock vesting and stock option exercises (23,404) (33,890) (42,418)\nRepurchases of common stock (87,540) (63,189) (16,135)\nPayment of contingent consideration (26,164) — —\nProceeds from short-term borrowings 100,000 70,348 578,356\nRepayments of short-term borrowings (100,000) (70,348) (578,356)\nNet cash (used in) financing activities (242,378) (189,775) (145,112)\nEffect of exchange rate changes on cash and cash equivalents (13,484) (7,105) 5,553\nCash and cash equivalents including restricted cash\nNet (decrease) increase for the period (52,903) 17,517 333,797\nBeginning of period 625,567 608,050 274,253\nEnd of period $ 572,664 $ 625,567 $ 608,050\nSupplemental cash flow information:\nCash paid for income taxes $ 88,677 $ 70,003 $ 45,046\nCash paid for interest 652 830 1,142\nNon-cash investing and financing activity:\nExercise of stock options - cashless $ 3,845 $ 2,750 $ 10,866\nRight-of-use assets obtained in exchange for operating lease liabilities 1,880 1,972 727\nContingent consideration payable recognized in connection with acquisitions — 27,947 14,665\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_company_type",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 7:\n\nMarketAxess Holdings Inc.\n55 Hudson Yards, 15th Floor\nNew York, New York 10001\nApril 26, 2023\nTO THE STOCKHOLDERS OF MARKETAXESS HOLDINGS INC.:\nYou are invited to attend the 2023 Annual Meeting of Stockholders (the “Annual Meeting”) of MarketAxess\nHoldings Inc. (the “Company”) scheduled for Wednesday, June 7, 2023 at 9:00 a.m., Eastern Daylight Time. The\nAnnual Meeting will be a virtual meeting of stockholders. You will be able to participate in the Annual Meeting,\nvote and submit your questions via live webcast by visiting www.virtualshareholdermeeting.com/MKTX2023. The\nCompany’s Board of Directors and management look forward to your participation.\nDetails of the business to be conducted at the Annual Meeting are provided in the attached Notice of Annual\nMeeting and Proxy Statement, which you are urged to read carefully.\nWe are pleased to take advantage of the U.S. Securities and Exchange Commission (“SEC”) rules that allow\nissuers to furnish proxy materials to their stockholders on t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_key_financials",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 718m, Operating income 327m, net income 250m",
      "golden_context": "Page 163:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION\nAs of\nDecember 31, 2022 December 31, 2021\n(In thousands, except share\nand per share amounts)\nASSETS\nCash and cash equivalents $ 430,746 $ 506,735\nCash segregated under federal regulations 50,947 50,159\nInvestments, at fair value 83,792 36,078\nAccounts receivable, net of allowance of $590 and $140 as of December 31, 2022\nand 2021, respectively 78,450 63,881\nReceivables from broker-dealers, clearing organizations and customers 476,335 408,346\nGoodwill 154,789 154,789\nIntangible assets, net of accumulated amortization 98,065 116,377\nFurniture, equipment, leasehold improvements and capitalized software, net of\naccumulated depreciation and amortization 100,256 96,061\nOperating lease right-of-use assets 66,106 70,960\nPrepaid expenses and other assets 68,289 27,066\nTotal assets $ 1,607,775 $ 1,530,452\nLIABILITIES AND STOCKHOLDERS' EQUITY\nLiabilities\nAccrued employee compensation $ 56,302 $ 59,719\nPayables to broker-dealers, clearing organizations and customers 303,993 229,325\nIncome and other tax liabilities 28,448 40,456\nAccounts payable, accrued expenses and other liabilities 55,263 71,218\nOperating lease liabilities 82,676 88,425\nTotal liabilities 526,682 489,143\nCommitments and Contingencies (Note 15)\nStockholders' equity\nPreferred stock, $0.001 par value, 4,855,000 shares authorized, no shares issued and\noutstanding as of December 31, 2022 and 2021 — —\nSeries A Preferred Stock, $0.001 par value, 110,000 shares authorized, no shares\nissued and outstanding as of December 31, 2022 and 2021 — —\nCommon stock voting, $0.003 par value, 110,000,000 shares authorized, 40,918,660\nshares and 40,911,506 shares issued and 37,648,148 shares and 37,918,956 shares\noutstanding as of December 31, 2022 and 2021, respectively 123 123\nCommon stock non-voting, $0.003 par value, 10,000,000 shares authorized, no\nshares issued and outstanding as of December 31, 2022 and 2021 — —\nAdditional paid-in capital 345,468 330,262\nTreasury stock - Common stock voting, at cost, 3,270,512 shares and 2,992,550\nshares as of December 31, 2022 and 2021, respectively (328,326) (232,712)\nRetained earnings 1,101,525 956,966\nAccumulated other comprehensive loss (37,697) (13,330)\nTotal stockholders' equity 1,081,093 1,041,309\nTotal liabilities and stockholders' equity $ 1,607,775 $ 1,530,452\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 164:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n2022 2021 2020\n(In thousands, except per share amounts)\nRevenues\nCommissions $ 641,183 $ 621,008 $ 634,445\nInformation services 39,314 38,175 34,341\nPost-trade services 36,877 38,922 19,460\nOther 926 846 879\nTotal revenues 718,300 698,951 689,125\nExpenses\nEmployee compensation and benefits 182,104 170,916 156,885\nDepreciation and amortization 61,446 53,447 35,996\nTechnology and communications 52,964 42,474 34,092\nProfessional and consulting fees 33,949 41,925 32,304\nOccupancy 14,121 13,320 13,425\nMarketing and advertising 9,977 9,059 7,940\nClearing costs 17,663 16,074 21,058\nGeneral and administrative 19,200 14,501 12,697\nTotal expenses 391,424 361,716 314,397\nOperating income 326,876 337,235 374,728\nOther income (expense)\nInterest income 5,040 401 2,446\nInterest expense (700) (842) (1,142)\nEquity in earnings of unconsolidated affiliate 1,126 — —\nOther, net 5,946 (2,871) (1,673)\nTotal other income (expense) 11,412 (3,312) (369)\nIncome before income taxes 338,288 333,923 374,359\nProvision for income taxes 88,064 76,035 74,982\nNet income $ 250,224 $ 257,888 $ 299,377\nNet income per common share\nBasic $ 6.68 $ 6.88 $ 8.01\nDiluted $ 6.65 $ 6.77 $ 7.85\nCash dividends declared per common share $ 2.80 $ 2.64 $ 2.40\nWeighted average shares outstanding\nBasic 37,468 37,508 37,359\nDiluted 37,643 38,097 The accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_revenue",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Revenues 718m, prior year revenue: 699m",
      "golden_context": "Page 163:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION\nAs of\nDecember 31, 2022 December 31, 2021\n(In thousands, except share\nand per share amounts)\nASSETS\nCash and cash equivalents $ 430,746 $ 506,735\nCash segregated under federal regulations 50,947 50,159\nInvestments, at fair value 83,792 36,078\nAccounts receivable, net of allowance of $590 and $140 as of December 31, 2022\nand 2021, respectively 78,450 63,881\nReceivables from broker-dealers, clearing organizations and customers 476,335 408,346\nGoodwill 154,789 154,789\nIntangible assets, net of accumulated amortization 98,065 116,377\nFurniture, equipment, leasehold improvements and capitalized software, net of\naccumulated depreciation and amortization 100,256 96,061\nOperating lease right-of-use assets 66,106 70,960\nPrepaid expenses and other assets 68,289 27,066\nTotal assets $ 1,607,775 $ 1,530,452\nLIABILITIES AND STOCKHOLDERS' EQUITY\nLiabilities\nAccrued employee compensation $ 56,302 $ 59,719\nPayables to broker-dealers, clearing organizations and customers 303,993 229,325\nIncome and other tax liabilities 28,448 40,456\nAccounts payable, accrued expenses and other liabilities 55,263 71,218\nOperating lease liabilities 82,676 88,425\nTotal liabilities 526,682 489,143\nCommitments and Contingencies (Note 15)\nStockholders' equity\nPreferred stock, $0.001 par value, 4,855,000 shares authorized, no shares issued and\noutstanding as of December 31, 2022 and 2021 — —\nSeries A Preferred Stock, $0.001 par value, 110,000 shares authorized, no shares\nissued and outstanding as of December 31, 2022 and 2021 — —\nCommon stock voting, $0.003 par value, 110,000,000 shares authorized, 40,918,660\nshares and 40,911,506 shares issued and 37,648,148 shares and 37,918,956 shares\noutstanding as of December 31, 2022 and 2021, respectively 123 123\nCommon stock non-voting, $0.003 par value, 10,000,000 shares authorized, no\nshares issued and outstanding as of December 31, 2022 and 2021 — —\nAdditional paid-in capital 345,468 330,262\nTreasury stock - Common stock voting, at cost, 3,270,512 shares and 2,992,550\nshares as of December 31, 2022 and 2021, respectively (328,326) (232,712)\nRetained earnings 1,101,525 956,966\nAccumulated other comprehensive loss (37,697) (13,330)\nTotal stockholders' equity 1,081,093 1,041,309\nTotal liabilities and stockholders' equity $ 1,607,775 $ 1,530,452\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 164:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n2022 2021 2020\n(In thousands, except per share amounts)\nRevenues\nCommissions $ 641,183 $ 621,008 $ 634,445\nInformation services 39,314 38,175 34,341\nPost-trade services 36,877 38,922 19,460\nOther 926 846 879\nTotal revenues 718,300 698,951 689,125\nExpenses\nEmployee compensation and benefits 182,104 170,916 156,885\nDepreciation and amortization 61,446 53,447 35,996\nTechnology and communications 52,964 42,474 34,092\nProfessional and consulting fees 33,949 41,925 32,304\nOccupancy 14,121 13,320 13,425\nMarketing and advertising 9,977 9,059 7,940\nClearing costs 17,663 16,074 21,058\nGeneral and administrative 19,200 14,501 12,697\nTotal expenses 391,424 361,716 314,397\nOperating income 326,876 337,235 374,728\nOther income (expense)\nInterest income 5,040 401 2,446\nInterest expense (700) (842) (1,142)\nEquity in earnings of unconsolidated affiliate 1,126 — —\nOther, net 5,946 (2,871) (1,673)\nTotal other income (expense) 11,412 (3,312) (369)\nIncome before income taxes 338,288 333,923 374,359\nProvision for income taxes 88,064 76,035 74,982\nNet income $ 250,224 $ 257,888 $ 299,377\nNet income per common share\nBasic $ 6.68 $ 6.88 $ 8.01\nDiluted $ 6.65 $ 6.77 $ 7.85\nCash dividends declared per common share $ 2.80 $ 2.64 $ 2.40\nWeighted average shares outstanding\nBasic 37,468 37,508 37,359\nDiluted 37,643 38,097 The accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_revenue_growth",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "718m, prior year 699m\n",
      "golden_context": "Page 163:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION\nAs of\nDecember 31, 2022 December 31, 2021\n(In thousands, except share\nand per share amounts)\nASSETS\nCash and cash equivalents $ 430,746 $ 506,735\nCash segregated under federal regulations 50,947 50,159\nInvestments, at fair value 83,792 36,078\nAccounts receivable, net of allowance of $590 and $140 as of December 31, 2022\nand 2021, respectively 78,450 63,881\nReceivables from broker-dealers, clearing organizations and customers 476,335 408,346\nGoodwill 154,789 154,789\nIntangible assets, net of accumulated amortization 98,065 116,377\nFurniture, equipment, leasehold improvements and capitalized software, net of\naccumulated depreciation and amortization 100,256 96,061\nOperating lease right-of-use assets 66,106 70,960\nPrepaid expenses and other assets 68,289 27,066\nTotal assets $ 1,607,775 $ 1,530,452\nLIABILITIES AND STOCKHOLDERS' EQUITY\nLiabilities\nAccrued employee compensation $ 56,302 $ 59,719\nPayables to broker-dealers, clearing organizations and customers 303,993 229,325\nIncome and other tax liabilities 28,448 40,456\nAccounts payable, accrued expenses and other liabilities 55,263 71,218\nOperating lease liabilities 82,676 88,425\nTotal liabilities 526,682 489,143\nCommitments and Contingencies (Note 15)\nStockholders' equity\nPreferred stock, $0.001 par value, 4,855,000 shares authorized, no shares issued and\noutstanding as of December 31, 2022 and 2021 — —\nSeries A Preferred Stock, $0.001 par value, 110,000 shares authorized, no shares\nissued and outstanding as of December 31, 2022 and 2021 — —\nCommon stock voting, $0.003 par value, 110,000,000 shares authorized, 40,918,660\nshares and 40,911,506 shares issued and 37,648,148 shares and 37,918,956 shares\noutstanding as of December 31, 2022 and 2021, respectively 123 123\nCommon stock non-voting, $0.003 par value, 10,000,000 shares authorized, no\nshares issued and outstanding as of December 31, 2022 and 2021 — —\nAdditional paid-in capital 345,468 330,262\nTreasury stock - Common stock voting, at cost, 3,270,512 shares and 2,992,550\nshares as of December 31, 2022 and 2021, respectively (328,326) (232,712)\nRetained earnings 1,101,525 956,966\nAccumulated other comprehensive loss (37,697) (13,330)\nTotal stockholders' equity 1,081,093 1,041,309\nTotal liabilities and stockholders' equity $ 1,607,775 $ 1,530,452\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 164:\n\nMARKETAXESS HOLDINGS INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYear Ended December 31,\n2022 2021 2020\n(In thousands, except per share amounts)\nRevenues\nCommissions $ 641,183 $ 621,008 $ 634,445\nInformation services 39,314 38,175 34,341\nPost-trade services 36,877 38,922 19,460\nOther 926 846 879\nTotal revenues 718,300 698,951 689,125\nExpenses\nEmployee compensation and benefits 182,104 170,916 156,885\nDepreciation and amortization 61,446 53,447 35,996\nTechnology and communications 52,964 42,474 34,092\nProfessional and consulting fees 33,949 41,925 32,304\nOccupancy 14,121 13,320 13,425\nMarketing and advertising 9,977 9,059 7,940\nClearing costs 17,663 16,074 21,058\nGeneral and administrative 19,200 14,501 12,697\nTotal expenses 391,424 361,716 314,397\nOperating income 326,876 337,235 374,728\nOther income (expense)\nInterest income 5,040 401 2,446\nInterest expense (700) (842) (1,142)\nEquity in earnings of unconsolidated affiliate 1,126 — —\nOther, net 5,946 (2,871) (1,673)\nTotal other income (expense) 11,412 (3,312) (369)\nIncome before income taxes 338,288 333,923 374,359\nProvision for income taxes 88,064 76,035 74,982\nNet income $ 250,224 $ 257,888 $ 299,377\nNet income per common share\nBasic $ 6.68 $ 6.88 $ 8.01\nDiluted $ 6.65 $ 6.77 $ 7.85\nCash dividends declared per common share $ 2.80 $ 2.64 $ 2.40\nWeighted average shares outstanding\nBasic 37,468 37,508 37,359\nDiluted 37,643 38,097 The accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000103_segments",
      "report_id": "ID_000103",
      "company_name": "MarketAxess",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Operate electronic platforms for the trading of fixed-income securities and provide related data, analytics, compliance tools\nand post-trade services.",
      "golden_context": "Page 150:\n\nSegment Results\nWe operate electronic platforms for the trading of fixed-income securities and provide related data, analytics, compliance tools\nand post-trade services. We consider our operations to constitute a single business segment because of the highly integrated nature of\nthese product and services, the financial markets in which we compete and our worldwide business activities. We believe that results by\ngeographic region or client sector are not necessarily meaningful in understanding our business. See Note 16 to the Consolidated\nFinancial Statements for certain geographic information about our business required by GAAP.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_cash_flow",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows: operating: 334m, investing: -155, financing: -147m. Total cash flow: 39m",
      "golden_context": "Page 167:\n\nCash Flows for the Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nOur cash flows were as follows:\nYear Ended December 31,\n2023 2022\n$\nChange\n%\nChange\n($ in thousands)\nNet cash provided by operating activities $ 333,767 $ 289,231 $ 44,536 15.4 %\nNet cash (used in) investing activities (155,290) (86,272) (69,018) 80.0\nNet cash (used in) financing activities (147,057) (242,378) 95,321 (39.3)\nEffect of exchange rate changes on cash and\ncash equivalents 7,588 (13,484) 21,072 NM\nNet increase/(decrease) for the period $ 39,008 $ (52,903) $ 91,911 NM\nNM - not meaningful\nThe $44.5 million increase in net cash provided by operating activities was primarily due to lower net purchases of trading\ninvestments of $24.3 million and a larger change in net receivables from broker-dealers, clearing organizations and customers associated\nwith our clearing activities of $19.8 million.\nThe $69.0 million increase in net cash used in investing activities was primarily attributable to an increase in cash used for\nacquisitions of $78.5 million and higher net purchases of available-for-sale investments of $24.4 million, partially offset by lower cash\nused for equity method investments of $34.4 million.\nThe $95.3 million decrease in net cash used in financing activities was principally due to lower repurchases of common stock of\n$87.5 million, lower payments of contingent consideration of $13.7 million and higher exercises of stock options of $0.3 million, offset\nby higher cash dividends of $3.7 million and higher withholding tax payments on restricted stock vesting of $2.4 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_company_type",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 111:\n\nCash Flows for the Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nOur cash flows were as follows:\nYear Ended December 31,\n2023 2022\n$\nChange\n%\nChange\n($ in thousands)\nNet cash provided by operating activities $ 333,767 $ 289,231 $ 44,536 15.4 %\nNet cash (used in) investing activities (155,290) (86,272) (69,018) 80.0\nNet cash (used in) financing activities (147,057) (242,378) 95,321 (39.3)\nEffect of exchange rate changes on cash and\ncash equivalents 7,588 (13,484) 21,072 NM\nNet increase/(decrease) for the period $ 39,008 $ (52,903) $ 91,911 NM\nNM - not meaningful\nThe $44.5 million increase in net cash provided by operating activities was primarily due to lower net purchases of trading\ninvestments of $24.3 million and a larger change in net receivables from broker-dealers, clearing organizations and customers associated\nwith our clearing activities of $19.8 million.\nThe $69.0 million increase in net cash used in investing activities was primarily attributable to an increase in cash used for\nacquisitions of $78.5 million and higher net purchases of available-for-sale investments of $24.4 million, partially offset by lower cash\nused for equity method investments of $34.4 million.\nThe $95.3 million decrease in net cash used in financing activities was principally due to lower repurchases of common stock of\n$87.5 million, lower payments of contingent consideration of $13.7 million and higher exercises of stock options of $0.3 million, offset\nby higher cash dividends of $3.7 million and higher withholding tax payments on restricted stock vesting of $2.4 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_key_financials",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "752.2m revenues, operating income 315m",
      "golden_context": "Page 43:\n\nWe had record total revenues and total expenses of $752.5 million and $437.5 million in 2023, up 4.8% and\n11.8%, respectively, from 2022. Total revenues includes Pragma revenues of $7.6 million and an increase\nof $1.8 million from the impact of foreign currency fluctuations. Total expenses includes Pragma operating\nexpenses of $8.7 million, acquisition-related expenses and costs associated with efficiency initiatives\nof $2.4 million and an increase of $1.7 million from the impact of foreign currency fluctuations. We had diluted\nearnings per share of $6.85 on net income of $258.1 million in 2023, up from diluted earnings per share of $6.65\non net income of $250.2 million in 2022.\nOperating income was $315.0 million, down 3.6% from 2022, but up from $250.9 million in 2019, representing a\n5-year compound annual growth rate of 8.2%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_revenue",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "752.2m revenues",
      "golden_context": "Page 43:\n\nWe had record total revenues and total expenses of $752.5 million and $437.5 million in 2023, up 4.8% and\n11.8%, respectively, from 2022. Total revenues includes Pragma revenues of $7.6 million and an increase\nof $1.8 million from the impact of foreign currency fluctuations. Total expenses includes Pragma operating\nexpenses of $8.7 million, acquisition-related expenses and costs associated with efficiency initiatives\nof $2.4 million and an increase of $1.7 million from the impact of foreign currency fluctuations. We had diluted\nearnings per share of $6.85 on net income of $258.1 million in 2023, up from diluted earnings per share of $6.65\non net income of $250.2 million in 2022.\nOperating income was $315.0 million, down 3.6% from 2022, but up from $250.9 million in 2019, representing a\n5-year compound annual growth rate of 8.2%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_revenue_growth",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "752.2m revenues, up 4.8%",
      "golden_context": "Page 43:\n\nWe had record total revenues and total expenses of $752.5 million and $437.5 million in 2023, up 4.8% and\n11.8%, respectively, from 2022. Total revenues includes Pragma revenues of $7.6 million and an increase\nof $1.8 million from the impact of foreign currency fluctuations. Total expenses includes Pragma operating\nexpenses of $8.7 million, acquisition-related expenses and costs associated with efficiency initiatives\nof $2.4 million and an increase of $1.7 million from the impact of foreign currency fluctuations. We had diluted\nearnings per share of $6.85 on net income of $258.1 million in 2023, up from diluted earnings per share of $6.65\non net income of $250.2 million in 2022.\nOperating income was $315.0 million, down 3.6% from 2022, but up from $250.9 million in 2019, representing a\n5-year compound annual growth rate of 8.2%.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000104_segments",
      "report_id": "ID_000104",
      "company_name": "MarketAxess",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Operate electronic platforms for the trading of fixed-income securities and provide related data, analytics, compliance tools and post-trade services. ",
      "golden_context": "Page 161:\n\nCash Flows for the Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nOur cash flows were as follows:\nYear Ended December 31,\n2023 2022\n$\nChange\n%\nChange\n($ in thousands)\nNet cash provided by operating activities $ 333,767 $ 289,231 $ 44,536 15.4 %\nNet cash (used in) investing activities (155,290) (86,272) (69,018) 80.0\nNet cash (used in) financing activities (147,057) (242,378) 95,321 (39.3)\nEffect of exchange rate changes on cash and\ncash equivalents 7,588 (13,484) 21,072 NM\nNet increase/(decrease) for the period $ 39,008 $ (52,903) $ 91,911 NM\nNM - not meaningful\nThe $44.5 million increase in net cash provided by operating activities was primarily due to lower net purchases of trading\ninvestments of $24.3 million and a larger change in net receivables from broker-dealers, clearing organizations and customers associated\nwith our clearing activities of $19.8 million.\nThe $69.0 million increase in net cash used in investing activities was primarily attributable to an increase in cash used for\nacquisitions of $78.5 million and higher net purchases of available-for-sale investments of $24.4 million, partially offset by lower cash\nused for equity method investments of $34.4 million.\nThe $95.3 million decrease in net cash used in financing activities was principally due to lower repurchases of common stock of\n$87.5 million, lower payments of contingent consideration of $13.7 million and higher exercises of stock options of $0.3 million, offset\nby higher cash dividends of $3.7 million and higher withholding tax payments on restricted stock vesting of $2.4 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_cash_flow",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash Flows: Operating: 380.9m, investing: 195m, financing: 356.8m, total cash flow: 958.2m",
      "golden_context": "Page 64:\n\nash Flows\nFiscal 2021 Compared to Fiscal 2020\nMarch 27,\n2021\nMarch 28,\n2020\n(millions)\n$\nChange\n$ 380.9 $ 754.6 $ (373.7)\n195.0 702.1 (507.1)\n356.8 (438.2) 795.0\nEffect of exchange rate changes on cash, cash equivalents, and restricted cash 25.5 (15.2) 40.7\n$ 958.2 $ 1,003.3 $ (45.1)\nFiscal Years Ended\nNet cash provided by operating activities Net cash provided by investing activities Net cash provided by (used in) financing activities Net increase in cash, cash equivalents, and restricted cash Net Cash Provided by Operating Activities. Net cash provided by operating activities decreased to $380.9 million during Fiscal 2021, from $754.6\nmillion during Fiscal 2020. The $373.7 million net decline in cash provided by operating activities was due to a decrease in net income before non-cash\ncharges, partially offset by a net favorable change related to our operating assets and liabilities, including our working capital, as compared to the prior fiscal\nyear.\nThe net favorable change related to our operating assets and liabilities, including our working capital, was primarily driven by:\n• a favorable change in our accrued liabilities, primarily driven by the increase in our restructuring reserve related to charges recorded in\nconnection with the Fiscal 2021 Strategic Realignment Plan; and\nconnection with the Fiscal 2021 Strategic Realignment Plan; and\n• a favorable change in our accounts payable, driven by our extended payment terms.\n• a favorable change in our accounts payable, driven by our extended payment terms.\nThese increases related to our operating assets and liabilities were partially offset by:\n• an unfavorable change related to our accounts receivable, largely driven by an increase in wholesale revenue during the fourth quarter of Fiscal\n2021 as compared to the fourth quarter of Fiscal 2020;\n2021 as compared to the fourth quarter of Fiscal 2020;\n• an unfavorable change in inventory, largely driven by lower COVID-19-related inventory charges recorded in Fiscal 2021 as compared to the\n• an unfavorable change in inventory, largely driven by lower COVID-19-related inventory charges recorded in Fiscal 2021 as compared to the\nprior year period; and\nprior year period; and\n• an unfavorable change in our prepaid expenses and other current assets, primarily driven by the timing of cash payments.\n• an unfavorable change in our prepaid expenses and other current assets, primarily driven by the timing of cash payments.\nNet Cash Provided by Investing Activities. Net cash provided by investing activities was $195.0 million during Fiscal 2021, as compared to of $702.1\nmillion during Fiscal 2020. The $507.1 million net decrease in cash provided by investing activities was primarily driven by:\n• a $648.1 million decrease in proceeds from sales and maturities of investments, less purchases of investments. During Fiscal 2021, we received\nnet proceeds from sales and maturities of investments of $302.6 million, as compared to $950.7 million during Fiscal 2020.\nThis decrease in cash provided by investing activities was partially offset by:\n• a $162.5 million decrease in capital expenditures. During Fiscal 2021, we spent $107.8 million on capital expenditures, as compared to $270.3\nmillion during Fiscal 2020. This decline reflects the temporary postponement of non-critical capital expenditures as a preemptive action to\npreserve cash and strengthen our liquidity position in response to business disruptions related to the COVID-19 pandemic. Our capital\nexpenditures during Fiscal 2021 primarily related to international store openings and renovations, as well as enhancements to our information\ntechnology systems.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_company_type",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended March 27, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number: 001-13057\nRALPH LAUREN CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 13-2622036\n(State or other jurisdiction of incorporation or organization) 650 Madison Avenue, New York, New York (Address of principal executive offices) (I.R.S. Employer Identification No.)\n10022\n(Zip Code)\n(212) 318-7000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock, $.01 par value Trading Symbol(s) RL Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_key_financials",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 4.4bn, operating income -43.6m, net income: -121.1m.",
      "golden_context": "Page 52:\n\nRESULTS OF OPERATIONS\nFiscal 2021 Compared to Fiscal 2020\nThe following table summarizes our results of operations and expresses the percentage relationship to net revenues of certain financial statement\ncaptions. All percentages shown in the below table and the discussion that follows have been calculated using unrounded numbers.\nFiscal Years Ended\nMarch 27,\n2021\nMarch 28,\n2020\n$\nChange\n% / bps\nChange\n(millions, except per share data)\nNet revenues $ 4,400.8 $ 6,159.8 $ (1,759.0) (28.6 %)\nCost of goods sold (1,539.4) (2,506.5) 967.1 (38.6 %)\nGross profit 2,861.4 3,653.3 (791.9) (21.7 %)\nGross profit as % of net revenues 65.0 % 59.3 % 570 bps\nSelling, general, and administrative expenses (2,638.5) (3,237.5) 599.0 (18.5 %)\nSG&A expenses as % of net revenues 60.0 % 52.6 % 740 bps\nImpairment of assets (96.0) (31.6) (64.4) 203.5 %\nRestructuring and other charges (170.5) (67.2) (103.3) 153.9 %\nOperating income (loss) (43.6) 317.0 (360.6) NM\nOperating income (loss) as % of net revenues (1.0 %) 5.1 % (610 bps)\nInterest expense (48.5) (17.6) (30.9) 175.9 %\nInterest income 9.7 34.4 (24.7) (71.8 %)\nOther income (expense), net 7.6 (7.4) 15.0 NM\nIncome (loss) before income taxes (74.8) 326.4 (401.2) NM\nIncome tax benefit (provision) (46.3) 57.9 (104.2) NM\n(a)\nEffective tax rate (61.9 %) (17.7 %) (4,420 bps)\nNet income (loss) $ (121.1) $ 384.3 $ (505.4) NM\nNet income (loss) per common share:\nBasic $ (1.65) $ 5.07 $ (6.72) NM\nDiluted $ (1.65) $ 4.98 $ (6.63) NM\n(a)\nEffective tax rate is calculated by dividing the income tax benefit (provision) by income (loss) before income taxes.\nNM Not meaningful.\nNet Revenues. Net revenues decreased by $1.759 billion, or 28.6%, to $4.401 billion in Fiscal 2021 as compared to Fiscal 2020, including net\nfavorable foreign currency effects of $80.7 million. On a constant currency basis, net revenues decreased by $1.840 billion, or 29.9%.\nThe following table summarizes the percentage change in our Fiscal 2021 consolidated comparable store sales as compared to the prior fiscal year,\ninclusive of adverse impacts related to COVID-19 business disruptions:\n% Change\nDigital commerce comparable store sales Comparable store sales excluding digital commerce Total comparable store sales 20 %\n(36 %)\n(29 %)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_revenue",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenues 4.4bn",
      "golden_context": "Page 52:\n\nRESULTS OF OPERATIONS\nFiscal 2021 Compared to Fiscal 2020\nThe following table summarizes our results of operations and expresses the percentage relationship to net revenues of certain financial statement\ncaptions. All percentages shown in the below table and the discussion that follows have been calculated using unrounded numbers.\nFiscal Years Ended\nMarch 27,\n2021\nMarch 28,\n2020\n$\nChange\n% / bps\nChange\n(millions, except per share data)\nNet revenues $ 4,400.8 $ 6,159.8 $ (1,759.0) (28.6 %)\nCost of goods sold (1,539.4) (2,506.5) 967.1 (38.6 %)\nGross profit 2,861.4 3,653.3 (791.9) (21.7 %)\nGross profit as % of net revenues 65.0 % 59.3 % 570 bps\nSelling, general, and administrative expenses (2,638.5) (3,237.5) 599.0 (18.5 %)\nSG&A expenses as % of net revenues 60.0 % 52.6 % 740 bps\nImpairment of assets (96.0) (31.6) (64.4) 203.5 %\nRestructuring and other charges (170.5) (67.2) (103.3) 153.9 %\nOperating income (loss) (43.6) 317.0 (360.6) NM\nOperating income (loss) as % of net revenues (1.0 %) 5.1 % (610 bps)\nInterest expense (48.5) (17.6) (30.9) 175.9 %\nInterest income 9.7 34.4 (24.7) (71.8 %)\nOther income (expense), net 7.6 (7.4) 15.0 NM\nIncome (loss) before income taxes (74.8) 326.4 (401.2) NM\nIncome tax benefit (provision) (46.3) 57.9 (104.2) NM\n(a)\nEffective tax rate (61.9 %) (17.7 %) (4,420 bps)\nNet income (loss) $ (121.1) $ 384.3 $ (505.4) NM\nNet income (loss) per common share:\nBasic $ (1.65) $ 5.07 $ (6.72) NM\nDiluted $ (1.65) $ 4.98 $ (6.63) NM\n(a)\nEffective tax rate is calculated by dividing the income tax benefit (provision) by income (loss) before income taxes.\nNM Not meaningful.\nNet Revenues. Net revenues decreased by $1.759 billion, or 28.6%, to $4.401 billion in Fiscal 2021 as compared to Fiscal 2020, including net\nfavorable foreign currency effects of $80.7 million. On a constant currency basis, net revenues decreased by $1.840 billion, or 29.9%.\nThe following table summarizes the percentage change in our Fiscal 2021 consolidated comparable store sales as compared to the prior fiscal year,\ninclusive of adverse impacts related to COVID-19 business disruptions:\n% Change\nDigital commerce comparable store sales Comparable store sales excluding digital commerce Total comparable store sales 20 %\n(36 %)\n(29 %)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_revenue_growth",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 4.4bn, prior year 6.2bn",
      "golden_context": "Page 52:\n\nRESULTS OF OPERATIONS\nFiscal 2021 Compared to Fiscal 2020\nThe following table summarizes our results of operations and expresses the percentage relationship to net revenues of certain financial statement\ncaptions. All percentages shown in the below table and the discussion that follows have been calculated using unrounded numbers.\nFiscal Years Ended\nMarch 27,\n2021\nMarch 28,\n2020\n$\nChange\n% / bps\nChange\n(millions, except per share data)\nNet revenues $ 4,400.8 $ 6,159.8 $ (1,759.0) (28.6 %)\nCost of goods sold (1,539.4) (2,506.5) 967.1 (38.6 %)\nGross profit 2,861.4 3,653.3 (791.9) (21.7 %)\nGross profit as % of net revenues 65.0 % 59.3 % 570 bps\nSelling, general, and administrative expenses (2,638.5) (3,237.5) 599.0 (18.5 %)\nSG&A expenses as % of net revenues 60.0 % 52.6 % 740 bps\nImpairment of assets (96.0) (31.6) (64.4) 203.5 %\nRestructuring and other charges (170.5) (67.2) (103.3) 153.9 %\nOperating income (loss) (43.6) 317.0 (360.6) NM\nOperating income (loss) as % of net revenues (1.0 %) 5.1 % (610 bps)\nInterest expense (48.5) (17.6) (30.9) 175.9 %\nInterest income 9.7 34.4 (24.7) (71.8 %)\nOther income (expense), net 7.6 (7.4) 15.0 NM\nIncome (loss) before income taxes (74.8) 326.4 (401.2) NM\nIncome tax benefit (provision) (46.3) 57.9 (104.2) NM\n(a)\nEffective tax rate (61.9 %) (17.7 %) (4,420 bps)\nNet income (loss) $ (121.1) $ 384.3 $ (505.4) NM\nNet income (loss) per common share:\nBasic $ (1.65) $ 5.07 $ (6.72) NM\nDiluted $ (1.65) $ 4.98 $ (6.63) NM\n(a)\nEffective tax rate is calculated by dividing the income tax benefit (provision) by income (loss) before income taxes.\nNM Not meaningful.\nNet Revenues. Net revenues decreased by $1.759 billion, or 28.6%, to $4.401 billion in Fiscal 2021 as compared to Fiscal 2020, including net\nfavorable foreign currency effects of $80.7 million. On a constant currency basis, net revenues decreased by $1.840 billion, or 29.9%.\nThe following table summarizes the percentage change in our Fiscal 2021 consolidated comparable store sales as compared to the prior fiscal year,\ninclusive of adverse impacts related to COVID-19 business disruptions:\n% Change\nDigital commerce comparable store sales Comparable store sales excluding digital commerce Total comparable store sales 20 %\n(36 %)\n(29 %)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000105_segments",
      "report_id": "ID_000105",
      "company_name": "Ralph Lauren Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "North America, Europe, Asia",
      "golden_context": "Page 137:\n\n Segment Information\nThe Company has three reportable segments based on its business activities and organization:\n• North America — The North America segment primarily consists of sales of Ralph Lauren branded apparel, footwear, accessories, home\nfurnishings, and related products made through the Company's retail and wholesale businesses in the U.S. and Canada, excluding Club Monaco.\nIn North America, the Company's retail business is primarily comprised of its Ralph Lauren stores, its factory stores, and its digital commerce\nsite, www.RalphLauren.com. The Company's wholesale business in North America is comprised primarily of sales to department stores, and to a\nlesser extent, specialty stores.\n• Europe — The Europe segment primarily consists of sales of Ralph Lauren branded apparel, footwear, accessories, home furnishings, and\nrelated products made through the Company's retail and wholesale businesses in Europe, the Middle East, and Latin America, excluding Club\nMonaco. In Europe, the Company's retail business is primarily comprised of its Ralph Lauren stores, its factory stores, its concession-based\nshop-within-shops, and its various digital commerce sites. The Company's wholesale business in Europe is comprised of a varying mix of sales\nto both department stores and specialty stores, depending on the country, as well as to various third-party digital partners.\n• Asia — The Asia segment primarily consists of sales of Ralph Lauren branded apparel, footwear, accessories, home furnishings, and related\nproducts made through the Company's retail and wholesale businesses in Asia, Australia, and New Zealand. The Company's retail business in\nAsia is primarily comprised of its Ralph Lauren stores, its factory stores, its concession-based shop-within-shops, and its various digital\ncommerce sites. In addition, the Company sells its products online through various third-party digital partner commerce sites. The Company's\nwholesale business in Asia is comprised primarily of sales to department stores, with related products distributed through shop-within-shops.\nNo operating segments were aggregated to form the Company's reportable segments. In addition to these reportable segments, the Company also has\nother non-reportable segments, which primarily consist of (i) sales of Club Monaco branded products made through its retail and wholesale businesses in the\nU.S., Canada, and Europe, and its licensing alliances in Europe and Asia, and (ii) royalty revenues earned through its global licensing alliances, excluding\nClub Monaco. As discussed in Note 9, on May 13, 2021, the Company announced the anticipated sale of its Club Monaco business, which is expected to\nclose by the end of the first quarter of Fiscal 2022.\nThe Company's segment reporting structure is consistent with how it establishes its overall business strategy, allocates resources, and assesses\nperformance of its business. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3. Sales and transfers\nbetween segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues are eliminated in consolidation and are not\nreviewed when evaluating segment performance. Each segment's performance is evaluated based upon net revenues and operating income before\nrestructuring-related charges, impairment of assets, and certain other one-time items, if any. Certain corporate overhead expenses related to global functions,\nmost notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at\ncorporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate\nadvertising and marketing expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from\ncorporate-level activities and projects. Asset information by segment is not utilized for purposes of assessing performance or allocating resources, and\ntherefore such information has not been presented",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_cash_flow",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating activitie: 715.9m, investing activities: -717.9m, financing activities -665.7m, total cash flow: -716.0.",
      "golden_context": "Pgae 65:\n\nCash Flows\nFiscal 2022 Compared to Fiscal 2021\nNet cash provided by operating activities Net cash provided by (used in) investing activities Net cash provided by (used in) financing activities Effect of exchange rate changes on cash, cash equivalents, and restricted cash Net increase (decrease) in cash, cash equivalents, and restricted cash Fiscal Years Ended\nApril 2,\nMarch 27,\n2022\n2021\n$\nChange\n(millions)\n$ 715.9 $ 380.9 $ 335.0\n(717.9) 195.0 (912.9)\n(665.7) 356.8 (1,022.5)\n(48.3) 25.5 (73.8)\n$ (716.0) $ 958.2 $ (1,674.2)\nNet Cash Provided by Operating Activities. Net cash provided by operating activities was $715.9 million during Fiscal 2022, as compared to $380.9\nmillion during Fiscal 2021. The $335.0 million net increase in cash provided by operating activities was due to an increase in net income before non-cash\ncharges, partially offset by a net unfavorable change related to our operating assets and liabilities, including our working capital, as compared to the prior\nfiscal year.\nThe net unfavorable change related to our operating assets and liabilities, including our working capital, was primarily driven by:\n• a year-over-year increase in our inventory levels largely to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_company_type",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended April 2, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number: 001-13057\nRALPH LAUREN CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 13-2622036\n(State or other jurisdiction of incorporation or organization) 650 Madison Avenue, New York, New York (Address of principal executive offices) (I.R.S. Employer Identification No.)\n10022\n(Zip Code)\n(212) 318-7000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock, $.01 par value Trading Symbol(s) RL Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes\n☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_key_financials",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues of 6.2bn, net income 600.1m, net income per diluted share of 8.07",
      "golden_context": "Page 50:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2022, we reported net revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07, as compared to net\nrevenues of $4.401 billion, a net loss of $121.1 million, and net loss per diluted share of $1.65 in Fiscal 2021. The comparability of our operating results has\nbeen affected by adverse impacts related to COVID-19 business disruptions and net restructuring-related charges, impairment of assets, and certain other\nbenefits (charges), including one-time tax events, as well as the impacts of the disposition of our former Club Monaco business at the end of the first quarter\nof Fiscal 2022, the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022, and the 53rd week in Fiscal\n2022, as discussed further below.\nOur operating performance for Fiscal 2022 reflected revenue increases of 41.3% on a reported basis and 41.9% on a constant currency basis, as defined\nwithin \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition\" below. The increase in net revenues reflected\ngrowth across all regions largely driven by a reduction in store closures and other COVID-19-related disruptions experienced during the current fiscal year as\ncompared to the prior fiscal year, coupled with continued growth in our digital commerce operations and overall stronger consumer demand, as well as the\nbenefit of the incremental 53rd week. This growth was partially offset by the disposition of our former Club Monaco business at the end of the first quarter of\nFiscal 2022 and the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues increased by 170 basis points to 66.7% during Fiscal 2022, primarily driven by lower non-routine\ninventory charges recorded during Fiscal 2022 as compared to the prior fiscal year, as well as improved pricing, lower levels of promotional activity, and\nproduct mix, partially offset by higher product and freight costs and the absence of unusual geographic and channel mix benefits experienced during the prior\nfiscal year in connection with COVID-19-related business disruptions in North America and Europe.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2022 decreased by 680 basis points to 53.2%,\nprimarily driven by operating leverage on higher net revenues, partially offset by higher expenses across various categories to drive strategic growth, coupled\nwith the return to more normalized operations in comparison to the prior fiscal year.\nNet income increased by $721.2 million to $600.1 million in Fiscal 2022 as compared to Fiscal 2021, primarily due to an $842.0 million increase in\nour operating income, partially offset by a $108.2 million increase in our income tax provision. Net income per diluted share increased by $9.72 to $8.07 per\nshare during Fiscal 2022 driven by the higher level of net income.\nDuring Fiscal 2022 and Fiscal 2021, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $32.6 million and $254.4 million, respectively, which had an after-tax effect of reducing net income by $23.2 million,\nor $0.31 per diluted share, and $201.5 million, or $2.71 per diluted share, respectively. Partially offsetting these charges was the favorable impact of the 53rd\nweek in Fiscal 2022, which increased net income by $16.5 million, or approximately $0.22 per diluted share. Our net loss during Fiscal 2021 also reflected\n$46.6 million of incremental net tax expense recorded in connection with one-time income tax events.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_revenue",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenues of 6.2bn",
      "golden_context": "Page 50:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2022, we reported net revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07, as compared to net\nrevenues of $4.401 billion, a net loss of $121.1 million, and net loss per diluted share of $1.65 in Fiscal 2021. The comparability of our operating results has\nbeen affected by adverse impacts related to COVID-19 business disruptions and net restructuring-related charges, impairment of assets, and certain other\nbenefits (charges), including one-time tax events, as well as the impacts of the disposition of our former Club Monaco business at the end of the first quarter\nof Fiscal 2022, the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022, and the 53rd week in Fiscal\n2022, as discussed further below.\nOur operating performance for Fiscal 2022 reflected revenue increases of 41.3% on a reported basis and 41.9% on a constant currency basis, as defined\nwithin \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition\" below. The increase in net revenues reflected\ngrowth across all regions largely driven by a reduction in store closures and other COVID-19-related disruptions experienced during the current fiscal year as\ncompared to the prior fiscal year, coupled with continued growth in our digital commerce operations and overall stronger consumer demand, as well as the\nbenefit of the incremental 53rd week. This growth was partially offset by the disposition of our former Club Monaco business at the end of the first quarter of\nFiscal 2022 and the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues increased by 170 basis points to 66.7% during Fiscal 2022, primarily driven by lower non-routine\ninventory charges recorded during Fiscal 2022 as compared to the prior fiscal year, as well as improved pricing, lower levels of promotional activity, and\nproduct mix, partially offset by higher product and freight costs and the absence of unusual geographic and channel mix benefits experienced during the prior\nfiscal year in connection with COVID-19-related business disruptions in North America and Europe.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2022 decreased by 680 basis points to 53.2%,\nprimarily driven by operating leverage on higher net revenues, partially offset by higher expenses across various categories to drive strategic growth, coupled\nwith the return to more normalized operations in comparison to the prior fiscal year.\nNet income increased by $721.2 million to $600.1 million in Fiscal 2022 as compared to Fiscal 2021, primarily due to an $842.0 million increase in\nour operating income, partially offset by a $108.2 million increase in our income tax provision. Net income per diluted share increased by $9.72 to $8.07 per\nshare during Fiscal 2022 driven by the higher level of net income.\nDuring Fiscal 2022 and Fiscal 2021, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $32.6 million and $254.4 million, respectively, which had an after-tax effect of reducing net income by $23.2 million,\nor $0.31 per diluted share, and $201.5 million, or $2.71 per diluted share, respectively. Partially offsetting these charges was the favorable impact of the 53rd\nweek in Fiscal 2022, which increased net income by $16.5 million, or approximately $0.22 per diluted share. Our net loss during Fiscal 2021 also reflected\n$46.6 million of incremental net tax expense recorded in connection with one-time income tax events.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_revenue_growth",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues of 6.2bn, prior year 4.4bn",
      "golden_context": "Page 50:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2022, we reported net revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07, as compared to net\nrevenues of $4.401 billion, a net loss of $121.1 million, and net loss per diluted share of $1.65 in Fiscal 2021. The comparability of our operating results has\nbeen affected by adverse impacts related to COVID-19 business disruptions and net restructuring-related charges, impairment of assets, and certain other\nbenefits (charges), including one-time tax events, as well as the impacts of the disposition of our former Club Monaco business at the end of the first quarter\nof Fiscal 2022, the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022, and the 53rd week in Fiscal\n2022, as discussed further below.\nOur operating performance for Fiscal 2022 reflected revenue increases of 41.3% on a reported basis and 41.9% on a constant currency basis, as defined\nwithin \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition\" below. The increase in net revenues reflected\ngrowth across all regions largely driven by a reduction in store closures and other COVID-19-related disruptions experienced during the current fiscal year as\ncompared to the prior fiscal year, coupled with continued growth in our digital commerce operations and overall stronger consumer demand, as well as the\nbenefit of the incremental 53rd week. This growth was partially offset by the disposition of our former Club Monaco business at the end of the first quarter of\nFiscal 2022 and the transition of our Chaps business to a fully licensed business model during the second quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues increased by 170 basis points to 66.7% during Fiscal 2022, primarily driven by lower non-routine\ninventory charges recorded during Fiscal 2022 as compared to the prior fiscal year, as well as improved pricing, lower levels of promotional activity, and\nproduct mix, partially offset by higher product and freight costs and the absence of unusual geographic and channel mix benefits experienced during the prior\nfiscal year in connection with COVID-19-related business disruptions in North America and Europe.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2022 decreased by 680 basis points to 53.2%,\nprimarily driven by operating leverage on higher net revenues, partially offset by higher expenses across various categories to drive strategic growth, coupled\nwith the return to more normalized operations in comparison to the prior fiscal year.\nNet income increased by $721.2 million to $600.1 million in Fiscal 2022 as compared to Fiscal 2021, primarily due to an $842.0 million increase in\nour operating income, partially offset by a $108.2 million increase in our income tax provision. Net income per diluted share increased by $9.72 to $8.07 per\nshare during Fiscal 2022 driven by the higher level of net income.\nDuring Fiscal 2022 and Fiscal 2021, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $32.6 million and $254.4 million, respectively, which had an after-tax effect of reducing net income by $23.2 million,\nor $0.31 per diluted share, and $201.5 million, or $2.71 per diluted share, respectively. Partially offsetting these charges was the favorable impact of the 53rd\nweek in Fiscal 2022, which increased net income by $16.5 million, or approximately $0.22 per diluted share. Our net loss during Fiscal 2021 also reflected\n$46.6 million of incremental net tax expense recorded in connection with one-time income tax events.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000106_segments",
      "report_id": "ID_000106",
      "company_name": "Ralph Lauren Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "North America, Europe, Asia",
      "golden_context": "Page 12:\n\nOur Segments\nWe organize our business into the following three reportable segments:\n• North America — Our North America segment, representing approximately 48% of our Fiscal 2022 net revenues, primarily consists of sales of\nour Ralph Lauren branded apparel, footwear, accessories, home furnishings, and related products made through our retail and wholesale\nbusinesses in the U.S. and Canada. In North America, our retail business is primarily comprised of our Ralph Lauren stores, our factory stores,\nand our digital commerce site, www.RalphLauren.com. Our wholesale business in North America is comprised primarily of sales to department\nstores and, to a lesser extent, specialty stores.\n• Europe — Our Europe segment, representing approximately 28% of our Fiscal 2022 net revenues, primarily consists of sales of our Ralph\nLauren branded apparel, footwear, accessories, home furnishings, and related products made through our retail and wholesale businesses in\nEurope and emerging markets. In Europe, our retail business is primarily comprised of our Ralph Lauren stores, our factory stores, our\nconcession-based shop-within-shops, and our various digital commerce sites. Our wholesale business in Europe is comprised primarily of a\nvarying mix of sales to both department stores and specialty stores, depending on the country, as well as to various third-party digital partners.\n• Asia — Our Asia segment, representing approximately 21% of our Fiscal 2022 net revenues, primarily consists of sales of our Ralph Lauren\nbranded apparel, footwear, accessories, home furnishings, and related products made through our retail and wholesale businesses in Asia,\nAustralia, and New Zealand. Our retail business in Asia is primarily comprised of our Ralph Lauren stores, our factory stores, our concession-\nbased shop-within-shops, and our various digital commerce sites. In addition, we sell our products online through various third-party digital\npartner commerce sites. Our wholesale business in Asia is comprised primarily of sales to department stores, with related products distributed\nthrough shop-within-shops.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_cash_flow",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 411m, investing activities: 471.5m, financing: -1208.8m, total cash flow: -335.1m",
      "golden_context": "Page 64:\n\nCash Flows\nFiscal 2023 Compared to Fiscal 2022\nFiscal Years Ended\nApril 1,\nApril 2,\n2023\n2022\n$\nChange\n(millions)\nNet cash provided by operating activities $ 411.0 $ 715.9 $ (304.9)\nNet cash provided by (used in) investing activities 471.5 (717.9) 1,189.4\nNet cash used in financing activities (1,208.8) (665.7) (543.1)\nEffect of exchange rate changes on cash, cash equivalents, and restricted cash (8.8) (48.3) 39.5\nNet decrease in cash, cash equivalents, and restricted cash $ (335.1) $ (716.0) $ 380.9\nNet Cash Provided by Operating Activities. Net cash provided by operating activities was $411.0 million during Fiscal 2023, as compared to $715.9\nmillion during Fiscal 2022. The $304.9 million net decrease in cash provided by operating activities was due to a net unfavorable change related to our\noperating assets and liabilities, including our working capital, as com",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_company_type",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended April 1, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number: 001-13057\nRALPH LAUREN CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 13-2622036\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n650 Madison Avenue, New York, New York 10022\n(Address of principal executive offices) (Zip Code)\n(212) 318-7000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock, $.01 par value Trading Symbol(s) RL Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of \"large accelerated filer,\n\" \"a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_key_financials",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 6.4bn, net income 522.7m",
      "golden_context": "Page 49:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2023, we reported net revenues of $6.444 billion, net income of $522.7 million, and net income per diluted share of $7.58, as compared to\nnet revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07 in Fiscal 2022. The comparability of our operating\nresults has been affected by net restructuring-related charges, impairment of assets, and certain other benefits (charges), as well as the impacts of the 53rd\nweek in Fiscal 2022, the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022, and the transition of our Chaps\nbusiness to a fully licensed business model during the second quarter of Fiscal 2022, as discussed further below. We also continue to experience varying\ndegrees of business disruptions resulting from the current macroeconomic environment, including ongoing inflationary pressures, foreign currency volatility,\nthe war in Ukraine, and COVID-19-related disruptions.\nOur operating performance for Fiscal 2023 reflected revenue increases of 3.6% on a reported basis and 9.4% on a constant currency basis, as\ndefined within \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition \" below. These increases in net revenues\nreflected growth across all of our reportable segments despite the negative impact associated with the absence of the 53rd week, which resulted in\nincremental net revenues of $62.7 million during the prior fiscal year; the transition of our Chaps business to a fully licensed business model during the\nsecond quarter of Fiscal 2022; and the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues decreased by 210 basis points to 64.6% during Fiscal 2023, primarily driven by inflationary cost\npressures, unfavorable foreign currency effects, and higher non-routine inventory charges recorded during Fiscal 2023 as compared to the prior fiscal year,\npartially offset by higher pricing.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2023 decreased by 30 basis points to 52.9%,\ndriven by operating leverage on higher net revenues.\nNet income decreased by $77.4 million to $522.7 million in Fiscal 2023 as compared to Fiscal 2022, primarily due to a $94.2 million decline in our\noperating income, partially offset by a $31.5 million decline in non-operating expense, net. Net income per diluted share decreased by $0.49 to $7.58 per\nshare during Fiscal 2023 driven by the lower level of net income, partially offset by lower weighted-average diluted shares outstanding.\nDuring Fiscal 2023 and Fiscal 2022, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $66.0 million and $32.6 million, respectively, which had an after-tax effect of reducing net income by $52.9 million,\nor $0.76 per diluted share, and $23.2 million, or $0.31 per diluted share, respectively. Net income during Fiscal 2022 reflected the favorable impact of the\ninclusion of the 53rd week, which increased net income by $16.5 million, or approximately $0.22 per diluted share.\nFinancial Condition and Liquidity\nWe ended Fiscal 2023 in a net cash and short-term investments position (calculated as cash and cash equivalents, plus short-term investments, less\ntotal debt) of $427.2 million, as compared to $962.1 million as of the end of Fiscal 2022. The decrease in our net cash and short-term investments position\nduring Fiscal 2023 as compared to Fiscal 2022 was primarily due to our use of cash to support Class A common stock repurchases of $488.6 million,\nincluding withholdings in satisfaction of tax obligations for stock-based compensation awards, to invest in our business through $217.5 million in capital\nexpenditures, and to make dividend payments of $198.3 million, as well as the unfavorable effect of exchange rate changes on our cash, cash equivalents,\nand restricted cash of $8.8 million partially offset by operating cash flows of $411.0 million.\nNet cash provided by operating activities was $411.0 million during Fiscal 2023, as compared to $715.9 million during Fiscal 2022. The net decrease\nin cash provided by operating activities was due to a net unfavorable change related to our operating assets and liabilities, including our working capital, as\ncompared to the prior fiscal year period, as well as the decline in net income before non-cash charges.\nOur equity decreased to $2.431 billion as of April 1, 2023, compared to $2.536 billion as of April 2, 2022, due to our share repurchase activity and\ndividends declared during Fiscal 2023, partially offset by our comprehensive income and the net impact of stock-based compensation arrangements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_revenue",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenues 6.4bn",
      "golden_context": "Page 49:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2023, we reported net revenues of $6.444 billion, net income of $522.7 million, and net income per diluted share of $7.58, as compared to\nnet revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07 in Fiscal 2022. The comparability of our operating\nresults has been affected by net restructuring-related charges, impairment of assets, and certain other benefits (charges), as well as the impacts of the 53rd\nweek in Fiscal 2022, the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022, and the transition of our Chaps\nbusiness to a fully licensed business model during the second quarter of Fiscal 2022, as discussed further below. We also continue to experience varying\ndegrees of business disruptions resulting from the current macroeconomic environment, including ongoing inflationary pressures, foreign currency volatility,\nthe war in Ukraine, and COVID-19-related disruptions.\nOur operating performance for Fiscal 2023 reflected revenue increases of 3.6% on a reported basis and 9.4% on a constant currency basis, as\ndefined within \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition \" below. These increases in net revenues\nreflected growth across all of our reportable segments despite the negative impact associated with the absence of the 53rd week, which resulted in\nincremental net revenues of $62.7 million during the prior fiscal year; the transition of our Chaps business to a fully licensed business model during the\nsecond quarter of Fiscal 2022; and the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues decreased by 210 basis points to 64.6% during Fiscal 2023, primarily driven by inflationary cost\npressures, unfavorable foreign currency effects, and higher non-routine inventory charges recorded during Fiscal 2023 as compared to the prior fiscal year,\npartially offset by higher pricing.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2023 decreased by 30 basis points to 52.9%,\ndriven by operating leverage on higher net revenues.\nNet income decreased by $77.4 million to $522.7 million in Fiscal 2023 as compared to Fiscal 2022, primarily due to a $94.2 million decline in our\noperating income, partially offset by a $31.5 million decline in non-operating expense, net. Net income per diluted share decreased by $0.49 to $7.58 per\nshare during Fiscal 2023 driven by the lower level of net income, partially offset by lower weighted-average diluted shares outstanding.\nDuring Fiscal 2023 and Fiscal 2022, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $66.0 million and $32.6 million, respectively, which had an after-tax effect of reducing net income by $52.9 million,\nor $0.76 per diluted share, and $23.2 million, or $0.31 per diluted share, respectively. Net income during Fiscal 2022 reflected the favorable impact of the\ninclusion of the 53rd week, which increased net income by $16.5 million, or approximately $0.22 per diluted share.\nFinancial Condition and Liquidity\nWe ended Fiscal 2023 in a net cash and short-term investments position (calculated as cash and cash equivalents, plus short-term investments, less\ntotal debt) of $427.2 million, as compared to $962.1 million as of the end of Fiscal 2022. The decrease in our net cash and short-term investments position\nduring Fiscal 2023 as compared to Fiscal 2022 was primarily due to our use of cash to support Class A common stock repurchases of $488.6 million,\nincluding withholdings in satisfaction of tax obligations for stock-based compensation awards, to invest in our business through $217.5 million in capital\nexpenditures, and to make dividend payments of $198.3 million, as well as the unfavorable effect of exchange rate changes on our cash, cash equivalents,\nand restricted cash of $8.8 million partially offset by operating cash flows of $411.0 million.\nNet cash provided by operating activities was $411.0 million during Fiscal 2023, as compared to $715.9 million during Fiscal 2022. The net decrease\nin cash provided by operating activities was due to a net unfavorable change related to our operating assets and liabilities, including our working capital, as\ncompared to the prior fiscal year period, as well as the decline in net income before non-cash charges.\nOur equity decreased to $2.431 billion as of April 1, 2023, compared to $2.536 billion as of April 2, 2022, due to our share repurchase activity and\ndividends declared during Fiscal 2023, partially offset by our comprehensive income and the net impact of stock-based compensation arrangements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_revenue_growth",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 6.4bn, prior year 6.2bn",
      "golden_context": "Page 49:\n\nSummary of Financial Performance\nOperating Results\nIn Fiscal 2023, we reported net revenues of $6.444 billion, net income of $522.7 million, and net income per diluted share of $7.58, as compared to\nnet revenues of $6.219 billion, net income of $600.1 million, and net income per diluted share of $8.07 in Fiscal 2022. The comparability of our operating\nresults has been affected by net restructuring-related charges, impairment of assets, and certain other benefits (charges), as well as the impacts of the 53rd\nweek in Fiscal 2022, the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022, and the transition of our Chaps\nbusiness to a fully licensed business model during the second quarter of Fiscal 2022, as discussed further below. We also continue to experience varying\ndegrees of business disruptions resulting from the current macroeconomic environment, including ongoing inflationary pressures, foreign currency volatility,\nthe war in Ukraine, and COVID-19-related disruptions.\nOur operating performance for Fiscal 2023 reflected revenue increases of 3.6% on a reported basis and 9.4% on a constant currency basis, as\ndefined within \"Transactions and Trends Affecting Comparability of Results of Operations and Financial Condition \" below. These increases in net revenues\nreflected growth across all of our reportable segments despite the negative impact associated with the absence of the 53rd week, which resulted in\nincremental net revenues of $62.7 million during the prior fiscal year; the transition of our Chaps business to a fully licensed business model during the\nsecond quarter of Fiscal 2022; and the disposition of our former Club Monaco business at the end of the first quarter of Fiscal 2022.\nOur gross profit as a percentage of net revenues decreased by 210 basis points to 64.6% during Fiscal 2023, primarily driven by inflationary cost\npressures, unfavorable foreign currency effects, and higher non-routine inventory charges recorded during Fiscal 2023 as compared to the prior fiscal year,\npartially offset by higher pricing.\nSelling, general, and administrative (\"SG&A\") expenses as a percentage of net revenues during Fiscal 2023 decreased by 30 basis points to 52.9%,\ndriven by operating leverage on higher net revenues.\nNet income decreased by $77.4 million to $522.7 million in Fiscal 2023 as compared to Fiscal 2022, primarily due to a $94.2 million decline in our\noperating income, partially offset by a $31.5 million decline in non-operating expense, net. Net income per diluted share decreased by $0.49 to $7.58 per\nshare during Fiscal 2023 driven by the lower level of net income, partially offset by lower weighted-average diluted shares outstanding.\nDuring Fiscal 2023 and Fiscal 2022, our operating results were negatively impacted by net restructuring-related charges, impairment of assets, and\ncertain other charges (benefits) totaling $66.0 million and $32.6 million, respectively, which had an after-tax effect of reducing net income by $52.9 million,\nor $0.76 per diluted share, and $23.2 million, or $0.31 per diluted share, respectively. Net income during Fiscal 2022 reflected the favorable impact of the\ninclusion of the 53rd week, which increased net income by $16.5 million, or approximately $0.22 per diluted share.\nFinancial Condition and Liquidity\nWe ended Fiscal 2023 in a net cash and short-term investments position (calculated as cash and cash equivalents, plus short-term investments, less\ntotal debt) of $427.2 million, as compared to $962.1 million as of the end of Fiscal 2022. The decrease in our net cash and short-term investments position\nduring Fiscal 2023 as compared to Fiscal 2022 was primarily due to our use of cash to support Class A common stock repurchases of $488.6 million,\nincluding withholdings in satisfaction of tax obligations for stock-based compensation awards, to invest in our business through $217.5 million in capital\nexpenditures, and to make dividend payments of $198.3 million, as well as the unfavorable effect of exchange rate changes on our cash, cash equivalents,\nand restricted cash of $8.8 million partially offset by operating cash flows of $411.0 million.\nNet cash provided by operating activities was $411.0 million during Fiscal 2023, as compared to $715.9 million during Fiscal 2022. The net decrease\nin cash provided by operating activities was due to a net unfavorable change related to our operating assets and liabilities, including our working capital, as\ncompared to the prior fiscal year period, as well as the decline in net income before non-cash charges.\nOur equity decreased to $2.431 billion as of April 1, 2023, compared to $2.536 billion as of April 2, 2022, due to our share repurchase activity and\ndividends declared during Fiscal 2023, partially offset by our comprehensive income and the net impact of stock-based compensation arrangements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000107_segments",
      "report_id": "ID_000107",
      "company_name": "Ralph Lauren Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "North America, Europe, Asia",
      "golden_context": "Page 46:\n\nWe organize our business into the following three reportable segments:\n• North America — Our North America segment, representing approximately 47% of our Fiscal 2023 net revenues, primarily consists of sales of\nour Ralph Lauren branded products made through our retail and wholesale businesses primarily in the U.S. and Canada. In North America, our\nretail business is primarily comprised of our Ralph Lauren stores, our outlet stores, and our digital commerce site, www.RalphLauren.com. Our\nwholesale business in North America is comprised primarily of sales to department stores and, to a lesser extent, specialty stores.\n• Europe — Our Europe segment, representing approximately 29% of our Fiscal 2023 net revenues, primarily consists of sales of our Ralph\nLauren branded products made through our retail and wholesale businesses in Europe and emerging markets. In Europe, our retail business is\nprimarily comprised of our Ralph Lauren stores, our outlet stores, our concession-based shop-within-shops, and our various digital commerce\nsites. Our wholesale business in Europe is comprised primarily of a varying mix of sales to both department stores and specialty stores,\ndepending on the country, as well as to various third-party digital partners.\n• Asia — Our Asia segment, representing approximately 22% of our Fiscal 2023 net revenues, primarily consists of sales of our Ralph Lauren\nbranded products made through our retail and wholesale businesses in Asia, Australia, and New Zealand. Our retail business in Asia is\nprimarily comprised of our Ralph Lauren stores, our outlet stores, our concession-based shop-within-shops, and our various digital commerce\nsites. In addition, we sell our products online through various third-party digital partner commerce sites. Our wholesale business in Asia is\ncomprised primarily of sales to department stores, with related products distributed through shop-within-shops.\nNo operating segments were aggregated to form our reportable segments. In addition to these reportable segments, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_cash_flow",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 493343k, investing 7876k, financing -482635, total cash flow 18584k",
      "golden_context": "Page 157:\n\nGlobe Life Inc.\n(PARENT COMPANY)\nSCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT—(continued)\nCondensed Statement of Cash Flows\n(Dollar amounts in thousands)\nNet income ......................................................................................................................... Year Ended December 31,\n2021 2020 2019\n$ 744,959 $ 731,773 $ 760,790\nEquity in earnings of affiliates.......................................................................................... (788,768) (760,329) (810,596)\nCash dividends from subsidiaries................................................................................... 478,535 485,871 479,988\nOther, net ............................................................................................................................ 58,617 21,129 65,584\nCash provided from operations ................................................................................. 493,343 478,444 495,766\nCash provided from (used for) investing activities:\nNet decrease (increase) in short-term investments.................................................. 19,300 (15,899) (3,380)\nInvestment in subsidiaries............................................................................................. (159,924) (7,875) —\nOther long-term investments ........................................................................................ (2,500) — —\nAdditions to properties...................................................................................................\n— — (32)\nLoaned money to affiliates............................................................................................ (1,049,932) (1,008,860) (501,764)\nRepayments from affiliates f f ........................................................................................... 1,200,932 782,860 501,764\nCash provided from (used for) investing activities .............................................. 7,876 (249,774) (3,412)\nCash provided from (used for) financing activities:\nRepayment of debt......................................................................................................... (300,000) (386,875) (6,875)\nProceeds from issuance of debt .................................................................................. 325,000 700,000 —\nPayment for debt issuance costs................................................................................. (7,687) (5,844) —\nNet issuance (repayment) of commercial paper....................................................... 74,974 (34,445) (11,610)\nIssuance of stock............................................................................................................ 69,826 48,093 82,771\nAcquisitions of treasury stock....................................................................................... (541,435) (443,866) (459,569)\nBorrowed money from affiliate f f ..................................................................................... 32,000 76,000 277,000\nRepayments to affiliates f f ................................................................................................ (32,000) (79,500) (276,500)\nPayment of dividends .................................................................................................... (103,313) (101,462) (97,458)\nCash provided from (used for) financing activities .............................................. (482,635) (227,899) (492,241)\nNet increase (decrease) in cash ..................................................................................... 18,584 771 113\nCash balance at beginning of period.............................................................................. 1,644 873 760\nCash balance at end of period ........................................................................................ $ 20,228 $ 1,644 $ 873",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_company_type",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 138:\n\nNote 14—Business Segments\nGlobe Life is organized into four segments: life insurance, supplemental health insurance, annuities, and\ninvestments. In addition, other expenses not included in these segments are reported in \"Corporate & Other.\"\nGlobe Life's reportable insurance segments are based on the insurance product lines it markets and administers:\nlife insurance, supplemental health insurance, and annuities. These major product lines are set out as reportable\nsegments because of the common characteristics of products within these categories, comparability of margins, and\nthe similarity in regulatory environment and management techniques. There is also an investment segment which\nf f manages the investment portfolio,\ndebt, and cash flow for f f the insurance segments and the corporate function. The\nCompany's chief operating decision makers evaluate the overall performance f f of the operations of the Company in\naccordance with these segments.\nLife insurance products marketed by Globe Life include traditional whole life and term life insurance. An immaterial\namount of annuities sold as companion products are included in the life segment. Health insurance products are\ngenerally guaranteed renewable and include Medicare Supplement, critical illness, accident, and limited-benefit\nsupplemental hospital and surgical coverage. Annuities include fixed-benefit contracts.\nGlobe Life markets its insurance products through a number of distribution channels, each of which sells the\nproducts of one or more of Globe Life's insurance segments. Our distribution channels consist of the following f f\nexclusive agencies: American Income Life Division (American Income), Liberty National Division (Liberty National)\nand Family Heritage Division (Family Heritage); an independent agency, United American Division (United\nAmerican); and our Direct to Consumer Division (Direct to Consumer). The tables below present segment premium\nrevenue by each of Globe Life's distribution channels.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_key_financials",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "4.1bn total premium, 707m net operating income, 745m net income",
      "golden_context": "Page 3:\n\n2021 In Focus\n$ in thousands\n$4,099,887\nFinancial Highlights\nTotal Premium\n$707,497\nNet Operating\nIncome\n$744,959\nNet Income\n$2,943,185\nAnnualized Life\nPremium In Force\n$1,286,078\nAnnualized Health\nPremium In Force\n1The following financial measures utilized by management and contained in the following Letter to Shareholders are considered non-GAAP: net operating income; net operating\nincome as a return on average equity, excluding net unrealized gains on fixed maturities; book value (shareholders’ equity) per share, excluding net unrealized gains or losses on fixed\nmaturities; underwriting income or margin (consolidated). Globe Life includes non-GAAP measures to enhance investors’ understanding of management’s view of the business. The\nnon-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life’s definitions of non-GAAP measures\nmay differ from other companies’ definitions. Reconciliations to GAAP financial data are presented on pages 16–17.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_revenue",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total premium 4099887k, prior year 3813905k",
      "golden_context": "Page 3:\n\n2021 In Focus\n$ in thousands\n$4,099,887\nFinancial Highlights\nTotal Premium\n$707,497\nNet Operating\nIncome\n$744,959\nNet Income\n$2,943,185\nAnnualized Life\nPremium In Force\n$1,286,078\nAnnualized Health\nPremium In Force\n1The following financial measures utilized by management and contained in the following Letter to Shareholders are considered non-GAAP: net operating income; net operating\nincome as a return on average equity, excluding net unrealized gains on fixed maturities; book value (shareholders’ equity) per share, excluding net unrealized gains or losses on fixed\nmaturities; underwriting income or margin (consolidated). Globe Life includes non-GAAP measures to enhance investors’ understanding of management’s view of the business. The\nnon-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life’s definitions of non-GAAP measures\nmay differ from other companies’ definitions. Reconciliations to GAAP financial data are presented on pages 16–17.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_revenue_growth",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total premium 4099887k, prior year 3813905k",
      "golden_context": "Page 3:\n\n2021 In Focus\n$ in thousands\n$4,099,887\nFinancial Highlights\nTotal Premium\n$707,497\nNet Operating\nIncome\n$744,959\nNet Income\n$2,943,185\nAnnualized Life\nPremium In Force\n$1,286,078\nAnnualized Health\nPremium In Force\n1The following financial measures utilized by management and contained in the following Letter to Shareholders are considered non-GAAP: net operating income; net operating\nincome as a return on average equity, excluding net unrealized gains on fixed maturities; book value (shareholders’ equity) per share, excluding net unrealized gains or losses on fixed\nmaturities; underwriting income or margin (consolidated). Globe Life includes non-GAAP measures to enhance investors’ understanding of management’s view of the business. The\nnon-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. Globe Life’s definitions of non-GAAP measures\nmay differ from other companies’ definitions. Reconciliations to GAAP financial data are presented on pages 16–17.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000108_segments",
      "report_id": "ID_000108",
      "company_name": "Globe Life",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Life insurance, sepplemental health insurance, annuities, and investments",
      "golden_context": "Page 138:\n\nNote 14—Business Segments\nGlobe Life is organized into four segments: life insurance, supplemental health insurance, annuities, and\ninvestments. In addition, other expenses not included in these segments are reported in \"Corporate & Other.\"\nGlobe Life's reportable insurance segments are based on the insurance product lines it markets and administers:\nlife insurance, supplemental health insurance, and annuities. These major product lines are set out as reportable\nsegments because of the common characteristics of products within these categories, comparability of margins, and\nthe similarity in regulatory environment and management techniques. There is also an investment segment which\nf f manages the investment portfolio,\ndebt, and cash flow for f f the insurance segments and the corporate function. The\nCompany's chief operating decision makers evaluate the overall performance f f of the operations of the Company in\naccordance with these segments.\nLife insurance products marketed by Globe Life include traditional whole life and term life insurance. An immaterial\namount of annuities sold as companion products are included in the life segment. Health insurance products are\ngenerally guaranteed renewable and include Medicare Supplement, critical illness, accident, and limited-benefit\nsupplemental hospital and surgical coverage. Annuities include fixed-benefit contracts.\nGlobe Life markets its insurance products through a number of distribution channels, each of which sells the\nproducts of one or more of Globe Life's insurance segments. Our distribution channels consist of the following f f\nexclusive agencies: American Income Life Division (American Income), Liberty National Division (Liberty National)\nand Family Heritage Division (Family Heritage); an independent agency, United American Division (United\nAmerican); and our Direct to Consumer Division (Direct to Consumer). The tables below present segment premium\nrevenue by each of Globe Life's distribution channels.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_cash_flow",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": " 1.4bn operating, -943m investing, -492m financing                                                                                               \n                                                     ",
      "golden_context": "  - Cash provided from operating activities: $1,422,194k                                                                                          \n  - Cash provided from (used for) investing activities: $(943,015)k                                                                               \n  - Cash provided from (used for) financing activities: $(492,453)k \n  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_company_type",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "  FORM 10-K                                                                                                                                       \n  [*] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                                                        \n  For the fiscal year ended December 31, 2022                                                                                                     \n                                                                                                                                                  \n  GLOBE LIFE INC.                                                                                                                                 \n  (Exact name of registrant as specified in its charter)                                                                                          \n  Delaware       \n  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_key_financials",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": " Total premium $4.3bn, net operating income $806m, net income $740m, diluted EPS $7.47, ROE 12.3% \n ",
      "golden_context": "                                                                                                  \n  2022 in Focus                                                                                                                                   \n  $ in thousands                                                                                                                                  \n  $4,302,709                                                                                                                                      \n  Total Premium                                                                                                                                   \n                                                                                                                                                  \n  Financial Highlights                                                                                                                            \n  $ in thousands, except per share amounts                                                                                                        \n                                      2022            2021        % CHANGE                                                                        \n  Total Premium                    $4,302,709    $4,099,887        4.9%                                                                           \n  Net Operating Income               806,345       707,497        14.0%                                                                           \n  Net Income                         739,704       744,959        -0.7%                                                                           \n  Annualized Life Premium In Force 3,061,520     2,943,185         4.0%                                                                           \n  Annualized Health Premium In Force 1,327,854   1,286,078         3.2%                                                                           \n  Diluted Average Shares Outstanding   98,985     103,170         -4.1%                                                                           \n                                                                                                                                                  \n  Net Operating Income as a Return on Average Equity                                                                                              \n  (excluding net unrealized gains on fixed maturities)  13.4%     12.3%                                                                           \n  Net Income as a Return on Average Equity              12.3%      8.8%                                                                           \n                                                                                                                                                  \n  PER COMMON SHARE (on a diluted basis)                                                                                                           \n                                      2022         2021        % CHANGE                                                                           \n  Net Operating Income               $8.15        $6.86         18.8%                                                                             \n  Net Income                         $7.47        $7.22          3.5%           \n  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_revenue",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": " Total premium 4.3bn  ",
      "golden_context": " $4,302,709k  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_revenue_growth",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total premium increased 5% from $4.1bn (2021) to $4.3bn (2022)  ",
      "golden_context": " 2022: $4,302,709k, 2021: $4,099,887k   ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000109_segments",
      "report_id": "ID_000109",
      "company_name": "Globe Life",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Life insurance, su\npplemental health insurance, annuities, and investments",
      "golden_context": "Business Segments\nGlobe Life is organized into four segments: life insurance, supplemental health insurance, annuities, and investments. In addition, other expenses not\nincluded in these segments are reported in \"Corporate & Other.\n\"\nGlobe Life's reportable insurance segments are based on the insurance product lines it markets and administers: life insurance, supplemental health\ninsurance, and annuities. These major product lines are set out as reportable segments because of the common characteristics of products within these\ncategories, comparability of margins, and the similarity in regulatory environment and management techniques. There is also an investment segment\nwhich manages the investment portfolio, debt, and cash flow for the insurance segments and the corporate function. The Company's chief operating\ndecision makers evaluate the overall performance of the operations of the Company in accordance with these segments.\nLife insurance products marketed by Globe Life include traditional whole life and term life insurance. An immaterial amount of annuities sold as companion\nproducts are included in the life segment. Health insurance products are generally guaranteed renewable and include Medicare Supplement, critical\nillness, accident, and limited-benefit supplemental hospital and surgical coverage. Annuities include fixed-benefit contracts.\nGlobe Life markets its insurance products through a number of distribution channels, each of which sells the products of one or more of Globe Life's\ninsurance segments. Our distribution channels consist of the following exclusive agencies: American Income Life Division (American Income), Liberty\nNational Division (Liberty National) and Family Heritage Division (Family Heritage); an independent agency, United American Division (United American);\nand our Direct to Consumer Division (Direct to Consumer). The tables below present segment premium revenue by each of Globe Life's distribution\nchannels",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_cash_flow",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1'482'425k, investing: -926'149k, financing -541'487k, total: 10597k",
      "golden_context": "Page 85:\n\nGlobe Life Inc.\nConsolidated Statements of Cash Flows\n(Dollar amounts in thousands)\nYear Ended December 31,\n2023 2022 2021\nNet income ........................................................................................................................ $ 970,755 $ 894,386 $ 1,031,114\nAdjustments to reconcile net income to cash provided from operations:\nIncrease (decrease) in future policy benefits......................................................... 834,366 759,426 645,897\nIncrease (decrease) in other policy benefits .......................................................... 5,448 35,638 31,533\nDeferral of policy acquisition costs .......................................................................... (850,169) (828,943) (782,488)\nAmortization of deferred policy acquisition costs .................................................. 379,700 348,824 317,616\nChange in current and deferred income taxes ...................................................... 101,448 91,835 147,990\nRealized (gains) losses ............................................................................................. 65,676 76,548 (59,319)\nOther, net ..................................................................................................................... (24,799) 44,480 105,337\nCash provided from (used for) operating activities ............................................... 1,482,425 1,422,194 1,437,680\nCash provided from (used for) investing activities:\nInvestments sold or matured:\nFixed maturities available for\nf sale—sold................................................................. 602,556 390,392 116,656\nFixed maturities available for\nf sale—matured or other redemptions ................... 250,652 462,002 310,991\nMortgage loans............................................................................................................ 44,004 32,870 31,423\nOther long-term investments..................................................................................... 151,262 50,281 4,923\nTotal investments sold or matured...................................................................... 1,048,474 935,545 463,993\nAcquisition of investments:\nFixed maturities—available for\nf sale ......................................................................... (1,536,409) (1,420,220) (1,004,384)\nMortgage loans............................................................................................................ (158,823) (77,275) (10,421)\nOther long-term investments..................................................................................... (155,700) (213,207) (247,875)\nTotal investments acquired................................................................................... (1,850,932) (1,710,702) (1,262,680)\nNet (increase) decrease in policy loans.................................................................. (42,154) (25,232) (5,255)\nNet (increase) decrease in short-term investments.............................................. 32,381 (44,976) 38,637\nAdditions to property and equipment ...................................................................... (49,553) (27,929) (38,244)\nOther investing activities ...........................................................................................\n— — (56,700)\nInvestments in low-income housing interests ........................................................ (64,365) (69,721) (53,121)\nCash provided from (used for) investing activities ................................................ (926,149) (943,015) (913,370)\nCash provided from (used for) financing activities:\nIssuance of common stock............................................................................................. 114,080 106,592 69,826\nCash dividends paid to shareholders ........................................................................... (84,116) (80,547) (80,043)\nRepayment of debt .......................................................................................................... (165,612) (150,000) (300,000)\nProceeds from issuance of debt.................................................................................... 170,000 250,492 325,000\nPayment for debt issuance costs .................................................................................. (757) (5,272) (7,687)\nNet borrowing (repayment) of commercial paper....................................................... 32,961 (46,289) 74,974\nAcquisition of treasury stock .......................................................................................... (511,100) (454,638) (541,435)\nNet receipts (payments) from deposit-type products................................................. (96,943) (112,791) (64,238)\nCash provided from (used for) financing activities ............................................... (541,487) (492,453) (523,603)\nEffe f f ct of foreign exchange rate changes on cash ......................................................... (4,192) Net increase (decrease) in cash ...................................................................................... 10,597 396 (2,684)\nCash at beginning of year................................................................................................. 92,559 92,163 94,847\nCash at end of year............................................................................................................ $ 103,156 $ 92,559 $ 92,163",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_company_type",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 85:\n\nGlobe Life Inc.\nConsolidated Statements of Cash Flows\n(Dollar amounts in thousands)\nYear Ended December 31,\n2023 2022 2021\nNet income ........................................................................................................................ $ 970,755 $ 894,386 $ 1,031,114\nAdjustments to reconcile net income to cash provided from operations:\nIncrease (decrease) in future policy benefits......................................................... 834,366 759,426 645,897\nIncrease (decrease) in other policy benefits .......................................................... 5,448 35,638 31,533\nDeferral of policy acquisition costs .......................................................................... (850,169) (828,943) (782,488)\nAmortization of deferred policy acquisition costs .................................................. 379,700 348,824 317,616\nChange in current and deferred income taxes ...................................................... 101,448 91,835 147,990\nRealized (gains) losses ............................................................................................. 65,676 76,548 (59,319)\nOther, net ..................................................................................................................... (24,799) 44,480 105,337\nCash provided from (used for) operating activities ............................................... 1,482,425 1,422,194 1,437,680\nCash provided from (used for) investing activities:\nInvestments sold or matured:\nFixed maturities available for\nf sale—sold................................................................. 602,556 390,392 116,656\nFixed maturities available for\nf sale—matured or other redemptions ................... 250,652 462,002 310,991\nMortgage loans............................................................................................................ 44,004 32,870 31,423\nOther long-term investments..................................................................................... 151,262 50,281 4,923\nTotal investments sold or matured...................................................................... 1,048,474 935,545 463,993\nAcquisition of investments:\nFixed maturities—available for\nf sale ......................................................................... (1,536,409) (1,420,220) (1,004,384)\nMortgage loans............................................................................................................ (158,823) (77,275) (10,421)\nOther long-term investments..................................................................................... (155,700) (213,207) (247,875)\nTotal investments acquired................................................................................... (1,850,932) (1,710,702) (1,262,680)\nNet (increase) decrease in policy loans.................................................................. (42,154) (25,232) (5,255)\nNet (increase) decrease in short-term investments.............................................. 32,381 (44,976) 38,637\nAdditions to property and equipment ...................................................................... (49,553) (27,929) (38,244)\nOther investing activities ...........................................................................................\n— — (56,700)\nInvestments in low-income housing interests ........................................................ (64,365) (69,721) (53,121)\nCash provided from (used for) investing activities ................................................ (926,149) (943,015) (913,370)\nCash provided from (used for) financing activities:\nIssuance of common stock............................................................................................. 114,080 106,592 69,826\nCash dividends paid to shareholders ........................................................................... (84,116) (80,547) (80,043)\nRepayment of debt .......................................................................................................... (165,612) (150,000) (300,000)\nProceeds from issuance of debt.................................................................................... 170,000 250,492 325,000\nPayment for debt issuance costs .................................................................................. (757) (5,272) (7,687)\nNet borrowing (repayment) of commercial paper....................................................... 32,961 (46,289) 74,974\nAcquisition of treasury stock .......................................................................................... (511,100) (454,638) (541,435)\nNet receipts (payments) from deposit-type products................................................. (96,943) (112,791) (64,238)\nCash provided from (used for) financing activities ............................................... (541,487) (492,453) (523,603)\nEffe f f ct of foreign exchange rate changes on cash ......................................................... (4,192) Net increase (decrease) in cash ...................................................................................... 10,597 396 (2,684)\nCash at beginning of year................................................................................................. 92,559 92,163 94,847\nCash at end of year............................................................................................................ $ 103,156 $ 92,559 $ 92,163",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_key_financials",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "4.5bn total premium revenue, 1bn net operating income, net income as a ROE: 23.2%",
      "golden_context": "Page 3:\n\n2023 in Focus\n$ in thou usands, e\nexcept per share a amo\nmounts\n$4,456,017\nTota\nal Premi\niu\nmium Revenue\nFinancial Highlights\n2023 20221 % CHANGE\n$1,026,644\nNet Operatin come\nng Inc\n$970,755\nNet Inco ome ome\nOPERATIONS\nTotal Premium Revenue $4,456,017 $4,310,242 3.4\nNet Operating Income2 $1,026,644 $961,027 6.8\nNet Income $970,755 $894,386 8.5\nAnnualized Life Premium In Force $3,185,745 $3,061,520 4.1\nAnnualized Health Premium In Force $1,385,301 $1,327 ,854 4.3\nDiluted Average Shares Outstanding 96,364 98,985 2.6\nNet Operating Income as a\nReturn on Equity (excluding AOCI)2 14.7% 14.8%\nNet Income as a Return on Equity 23.2% 29.2%\n$767 ,845\nTotal Net Sales\n(6% Increase)\n13% Increase\nTotal Producing Exclusive\nAverage Agent Count\nPER COMMON SHARE (on a diluted basis)\nNet Operating Income2 $10.65 $9.71 9.7\nNet Income $10.07 $9.04 11.4\nShareholders’ Equity (excluding AOCI)2 $76.21 $68.35 11.5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_revenue",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "$4,456,017k",
      "golden_context": "Page 3:\n\n2023 in Focus\n$ in thou usands, e\nexcept per share a amo\nmounts\n$4,456,017\nTota\nal Premi\niu\nmium Revenue\nFinancial Highlights\n2023 20221 % CHANGE\n$1,026,644\nNet Operatin come\nng Inc\n$970,755\nNet Inco ome ome\nOPERATIONS\nTotal Premium Revenue $4,456,017 $4,310,242 3.4\nNet Operating Income2 $1,026,644 $961,027 6.8\nNet Income $970,755 $894,386 8.5\nAnnualized Life Premium In Force $3,185,745 $3,061,520 4.1\nAnnualized Health Premium In Force $1,385,301 $1,327 ,854 4.3\nDiluted Average Shares Outstanding 96,364 98,985 2.6\nNet Operating Income as a\nReturn on Equity (excluding AOCI)2 14.7% 14.8%\nNet Income as a Return on Equity 23.2% 29.2%\n$767 ,845\nTotal Net Sales\n(6% Increase)\n13% Increase\nTotal Producing Exclusive\nAverage Agent Count\nPER COMMON SHARE (on a diluted basis)\nNet Operating Income2 $10.65 $9.71 9.7\nNet Income $10.07 $9.04 11.4\nShareholders’ Equity (excluding AOCI)2 $76.21 $68.35 11.5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_revenue_growth",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "$4,456,017k, prio: $4,310,242k",
      "golden_context": "Page 3:\n\n2023 in Focus\n$ in thou usands, e\nexcept per share a amo\nmounts\n$4,456,017\nTota\nal Premi\niu\nmium Revenue\nFinancial Highlights\n2023 20221 % CHANGE\n$1,026,644\nNet Operatin come\nng Inc\n$970,755\nNet Inco ome ome\nOPERATIONS\nTotal Premium Revenue $4,456,017 $4,310,242 3.4\nNet Operating Income2 $1,026,644 $961,027 6.8\nNet Income $970,755 $894,386 8.5\nAnnualized Life Premium In Force $3,185,745 $3,061,520 4.1\nAnnualized Health Premium In Force $1,385,301 $1,327 ,854 4.3\nDiluted Average Shares Outstanding 96,364 98,985 2.6\nNet Operating Income as a\nReturn on Equity (excluding AOCI)2 14.7% 14.8%\nNet Income as a Return on Equity 23.2% 29.2%\n$767 ,845\nTotal Net Sales\n(6% Increase)\n13% Increase\nTotal Producing Exclusive\nAverage Agent Count\nPER COMMON SHARE (on a diluted basis)\nNet Operating Income2 $10.65 $9.71 9.7\nNet Income $10.07 $9.04 11.4\nShareholders’ Equity (excluding AOCI)2 $76.21 $68.35 11.5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000110_segments",
      "report_id": "ID_000110",
      "company_name": "Globe Life",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Life insurance, sepplemental health insurance, annuities, and investments",
      "golden_context": "Page 157:\n\nNote 15—Business Segments\nGlobe Life is organized into four f f segments: life insurance, supplemental health insurance, annuities, and\ninvestments. In addition, other expenses not included in these segments are reported in \"Corporate & Other.\"\nGlobe Life's reportable insurance segments are based on the insurance product lines it markets and administers:\nlife insurance, supplemental health insurance, and annuities. These major product lines are set out as reportable\nsegments because of the common characteristics of products within these categories, comparability of margins, and\nthe similarity in regulatory environment and management techniques. There is also an investment segment that\nmanages the investment portfolio and cash flow for f f the insurance segments and the corporate function, which has\nbeen retrospectively adjusted to exclude the interest on deferred acquisition costs due to the adoption of ASU\n2018-12 and the interest on debt. The Company's chief operating decision makers evaluate the overall perfo r r rmance\nof the operations of the Company in accordance with these segments.\nLife insurance products marketed by Globe Life include traditional whole life and term life insurance. An immaterial\namount of annuities sold as companion products are included in the life segment. Health insurance products are\ngenerally guaranteed renewable and include Medicare Supplement, cancer, critical illness, accident, and other\nlimited-benefit supplemental hospital and surgical products. Annuities include fixed-benefit contracts.\nThe fol f f lowing tables present segment premium revenue by each of Globe Life's distribution channels.\nPremium Income by Distribution Channel\nDistribution Channel For the Year 2023\nLife Health Annuity Total\nAmount\n% of\nTotal Amount\n% of\nTotal Amount\n% of\nTotal Amount\n% of\nTotal\nAmerican Income ................................ $ 1,588,702 51 $ 120,332 9 $ — — $ 1,709,034 38\nDirect to Consumer............................. 991,406 32 68,575 5 — — 1,059,981 24\nLiberty National ................................... 349,736 11 187,934 14 — — 537,670 12\nUnited American.................................. 7,311 — 545,723 42 — — 553,034 13\nFamily Heritage ................................... 6,134 — 396,209 30 — — 402,343 9\nOther ..................................................... 193,955 6 — — — — 193,955 4\n$ 3,137,244 100 $ 1,318,773 100 $ — — $ 4,456,017 100\nFor the Year 2022\nLife Health Annuity Total\nDistribution Channel Amount\n% of\nTotal Amount\n% of\nTotal Amount\n% of\nTotal Amount\n% of\nTotal\nAmerican Income ................................ $ 1,505,034 50 $ 117,353 9 $ — — $ 1,622,387 38\nDirect to Consumer............................. 985,488 33 71,129 5 — — 1,056,617 24\nLiberty National ................................... 327,469 11 187,241 15 — — 514,710 12\nUnited American.................................. 7,966 — 539,874 42 1 100 547,841 13\nFamily Heritage ................................... 5,586 — 366,820 29 — — 372,406 9\nOther ..................................................... 196,281 6 — — — — 196,281 4\n$ 3,027,824 100 $ 1,282,417 100 $ 1 100 $ 4,310,242 100",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_cash_flow",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1002m, investing: -3626m, financing: 1521m",
      "golden_context": "Page 36:\n\nYear Ended\nOctober 31, 2021 October 25, 2020\nCash and Cash Equivalents $ 614 $ 1,714\nCash Provided By (Used in) Operating Activities 1,002 1,128\nCash Provided by (Used in) Investing Activities (3,626) Cash Provided by (Used in) Financing Activities 1,521 LIQUIDITY AND CAPITAL RESOURCES\nWhen assessing liquidity and capital resources, the Company evaluates cash and cash equivalents, short-term and long-term\ninvestments, income from operations, and borrowing capacity.\nCash Flow Highlights\n(656)\n566\n\nLIQUIDITY AND CAPITAL RESOURCES\nWhen assessing liquidity and capital resources, the Company evaluates cash and cash equivalents, short-term and long-term\ninvestments, income from operations, and borrowing capacity.\nCash Flow Highlights\n(656)\n566\nCash and cash equivalents declined in fiscal 2021 as the Company made significant investments in the acquisition of the\nPlanters® snack nuts business, dividend payments, repayment of long-term debt, and capital expenditures. Additional details\nrelated to significant drivers of cash flows are provided below.\nCash Provided by (Used in) Operating Activities\n▪ Cash flows from operating activities were largely impacted by changes in operating assets and liabilities.\n– Accounts receivable increased $192 million in fiscal 2021 primarily due to increased sales and the incremental\nimpact of the Planters® snack nuts business. The $120 million increase in fiscal 2020 is largely due to increased\nsales and the timing of collections.\n– In fiscal 2021, inventory increased $145 million due to inflation in raw material and supplies and the acquisition of\nthe Planters® snack nuts business.\n– Accounts payable and accrued expenses increased $115 million in fiscal 2021 related to the incremental impact of\nthe Planters® snack nuts business. In fiscal 2020, cash flows benefited from a $111 million increase due to the\ntiming of payments.\nCash Provided by (Used in) Investing Activities\n▪ In fiscal 2021, the Company acquired the Planters® snack nuts business for $3.4 billion. In fiscal 2020, the Company\nacquired the assets of Sadler's Smokehouse for $271 million.\n▪ Capital expenditures were $232 million and $368 million in fiscal 2021 and 2020, respectively. Significant spending included\nseveral multi-year projects including the pizza toppings expansion at our manufacturing facility in Nevada, Iowa, a new dry\nsausage facility in Omaha, Nebraska, and Project",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_company_type",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 14:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________________ to _________________________\nCommission File Number: 1-2402\nHORMEL FOODS CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 41-0319970\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1 Hormel Place, Austin Minnesota (Address of principal executive offices) 55912-3680\n(Zip Code)\nRegistrant’s telephone number, including area code (507) 437-5611\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock $0.01465 par value HRL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No\n☐\nIndicate by check mark if the registrant is not required to fi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_key_financials",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 11'386'189k, EPS basic 1.68, EBS diluted 1.66.",
      "golden_context": "Page 12:\n\nSelected Financial Data\n(in thousands, except per-share amounts) 2021 2020 Change % Change\nNet Sales $ 11,386,189 $ 9,608,462 $ 1,777,727 18.5\nNet Earnings Attributable to Hormel Foods Corporation 908,839 908,082 757 0.1\nPercent of Sales 8.0% 9.5%\nEarnings Per Share\nBasic $ 1.68 $ 1.69 $ (0.01) (0.6)\nDiluted 1.66 1.66 – –\nDividends Paid on Common Stock 523,114 487,376 35,738 7.3\nPer Share of Common Stock 0.98 0.93 0.05 5.4\nAverage Common Shares Outstanding\nBasic 541,114 538,007 3,107 0.6\nDiluted 547,580 546,592 988 0.2\nCapital Expenditures $ 232,416 $ 367,501 $ (135,085) (36.8)\nDepreciation and Amortization 228,406 205,781 22,625 11.0\nWorking Capital 1,532,162 2,075,098 (542,936) (26.2)\nHormel Foods Corporation Shareholders’ Investment 6,972,883 6,425,548 547,335 8.5\n$9.32\n$9.32\nNet Sales\nNet Sales\nDollars in billions\nDollars in billions\n3.7% CAGR\n3.7% CAGR\n$7.90\n$7.90\n$8.23\n$8.23\n$8.75\n$8.75\n11\n11\n12\n12\n13\n13\n14\n14\nOperating Income*\nOperating Income*\nDollars in billions\nDollars in billions\n3.8% CAGR\n3.8% CAGR\n$0.77\n$0.77\n$0.78\n$0.78\n$0.83\n$0.83\n11\n11\n12\n12\n13\n13\n$11.39\n$11.39\n$9.26\n$9.26\n$9.52\n$9.52\n$9.17\n$9.17\n$9.55\n$9.55\n$9.50\n$9.50\n$9.61\n$9.61\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n$1.27\n$1.27\n15\n15\n16\n16\n$1.31\n$1.31\n$1.28\n$1.28\n$1.18\n$1.18\n$1.20\n$1.20\n$1.06\n$1.06\n$1.10\n$1.10\n$1.12\n$1.12\n$0.92\n$0.92\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\nDiluted Earnings Per Share**\nDiluted Earnings Per Share**\nDollars per share\nDollars per share\n6.7% CAGR\n6.7% CAGR\n$1.64\n$1.64\n$1.12\n$1.12\n$0.87\n$0.87\n$0.93\n$0.93\n$0.97\n$0.97\n11\n11\n12\n12\n13\n13\n14\n14\nAnnual Dividends**\nAnnual Dividends**\nDollars per share\nDollars per share\n14.6% CAGR\n14.6% CAGR\n$0.25\n$0.25\n$0.30\n$0.30\n$0.34\n$0.34\n11\n11\n12\n12\n13\n13\n$1.86\n$1.86\n$1.80\n$1.80\n$1.57\n$1.57\n17\n17\n$1.66\n$1.66\n$1.66\n$1.66\n18\n18\n19\n19\n20\n20\n21\n21\n$0.93\n$0.93\n$0.98\n$0.98\n$0.84\n$0.84\n$0.75\n$0.75\n$0.68\n$0.68\n$0.58\n$0.58\n$0.50\n$0.50\n$0.40\n$0.40\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n* _x0007_ Fiscal year 2018 and prior years have been adjusted due to the adoption\nof ASU 2017-07, Compensation – Retirement Benefits: Improving the\nPresentation of Net Periodic Pension Cost and Net Periodic Postretirement\nBenefit Cost (Topic 715).\n* * _x0007_ Per-share figures have been restated to reflect the two-for-one stock\nsplits distributed on Feb. 14, 2011, and Feb. 9, 2016. Fiscal years 2016\nand 2021 included 53 weeks.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_revenue",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 11'386'189k",
      "golden_context": "Page 12:\n\nSelected Financial Data\n(in thousands, except per-share amounts) 2021 2020 Change % Change\nNet Sales $ 11,386,189 $ 9,608,462 $ 1,777,727 18.5\nNet Earnings Attributable to Hormel Foods Corporation 908,839 908,082 757 0.1\nPercent of Sales 8.0% 9.5%\nEarnings Per Share\nBasic $ 1.68 $ 1.69 $ (0.01) (0.6)\nDiluted 1.66 1.66 – –\nDividends Paid on Common Stock 523,114 487,376 35,738 7.3\nPer Share of Common Stock 0.98 0.93 0.05 5.4\nAverage Common Shares Outstanding\nBasic 541,114 538,007 3,107 0.6\nDiluted 547,580 546,592 988 0.2\nCapital Expenditures $ 232,416 $ 367,501 $ (135,085) (36.8)\nDepreciation and Amortization 228,406 205,781 22,625 11.0\nWorking Capital 1,532,162 2,075,098 (542,936) (26.2)\nHormel Foods Corporation Shareholders’ Investment 6,972,883 6,425,548 547,335 8.5\n$9.32\n$9.32\nNet Sales\nNet Sales\nDollars in billions\nDollars in billions\n3.7% CAGR\n3.7% CAGR\n$7.90\n$7.90\n$8.23\n$8.23\n$8.75\n$8.75\n11\n11\n12\n12\n13\n13\n14\n14\nOperating Income*\nOperating Income*\nDollars in billions\nDollars in billions\n3.8% CAGR\n3.8% CAGR\n$0.77\n$0.77\n$0.78\n$0.78\n$0.83\n$0.83\n11\n11\n12\n12\n13\n13\n$11.39\n$11.39\n$9.26\n$9.26\n$9.52\n$9.52\n$9.17\n$9.17\n$9.55\n$9.55\n$9.50\n$9.50\n$9.61\n$9.61\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n$1.27\n$1.27\n15\n15\n16\n16\n$1.31\n$1.31\n$1.28\n$1.28\n$1.18\n$1.18\n$1.20\n$1.20\n$1.06\n$1.06\n$1.10\n$1.10\n$1.12\n$1.12\n$0.92\n$0.92\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\nDiluted Earnings Per Share**\nDiluted Earnings Per Share**\nDollars per share\nDollars per share\n6.7% CAGR\n6.7% CAGR\n$1.64\n$1.64\n$1.12\n$1.12\n$0.87\n$0.87\n$0.93\n$0.93\n$0.97\n$0.97\n11\n11\n12\n12\n13\n13\n14\n14\nAnnual Dividends**\nAnnual Dividends**\nDollars per share\nDollars per share\n14.6% CAGR\n14.6% CAGR\n$0.25\n$0.25\n$0.30\n$0.30\n$0.34\n$0.34\n11\n11\n12\n12\n13\n13\n$1.86\n$1.86\n$1.80\n$1.80\n$1.57\n$1.57\n17\n17\n$1.66\n$1.66\n$1.66\n$1.66\n18\n18\n19\n19\n20\n20\n21\n21\n$0.93\n$0.93\n$0.98\n$0.98\n$0.84\n$0.84\n$0.75\n$0.75\n$0.68\n$0.68\n$0.58\n$0.58\n$0.50\n$0.50\n$0.40\n$0.40\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n* _x0007_ Fiscal year 2018 and prior years have been adjusted due to the adoption\nof ASU 2017-07, Compensation – Retirement Benefits: Improving the\nPresentation of Net Periodic Pension Cost and Net Periodic Postretirement\nBenefit Cost (Topic 715).\n* * _x0007_ Per-share figures have been restated to reflect the two-for-one stock\nsplits distributed on Feb. 14, 2011, and Feb. 9, 2016. Fiscal years 2016\nand 2021 included 53 weeks.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_revenue_growth",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 11'386'189k, 9'608'462k",
      "golden_context": "Page 12:\n\nSelected Financial Data\n(in thousands, except per-share amounts) 2021 2020 Change % Change\nNet Sales $ 11,386,189 $ 9,608,462 $ 1,777,727 18.5\nNet Earnings Attributable to Hormel Foods Corporation 908,839 908,082 757 0.1\nPercent of Sales 8.0% 9.5%\nEarnings Per Share\nBasic $ 1.68 $ 1.69 $ (0.01) (0.6)\nDiluted 1.66 1.66 – –\nDividends Paid on Common Stock 523,114 487,376 35,738 7.3\nPer Share of Common Stock 0.98 0.93 0.05 5.4\nAverage Common Shares Outstanding\nBasic 541,114 538,007 3,107 0.6\nDiluted 547,580 546,592 988 0.2\nCapital Expenditures $ 232,416 $ 367,501 $ (135,085) (36.8)\nDepreciation and Amortization 228,406 205,781 22,625 11.0\nWorking Capital 1,532,162 2,075,098 (542,936) (26.2)\nHormel Foods Corporation Shareholders’ Investment 6,972,883 6,425,548 547,335 8.5\n$9.32\n$9.32\nNet Sales\nNet Sales\nDollars in billions\nDollars in billions\n3.7% CAGR\n3.7% CAGR\n$7.90\n$7.90\n$8.23\n$8.23\n$8.75\n$8.75\n11\n11\n12\n12\n13\n13\n14\n14\nOperating Income*\nOperating Income*\nDollars in billions\nDollars in billions\n3.8% CAGR\n3.8% CAGR\n$0.77\n$0.77\n$0.78\n$0.78\n$0.83\n$0.83\n11\n11\n12\n12\n13\n13\n$11.39\n$11.39\n$9.26\n$9.26\n$9.52\n$9.52\n$9.17\n$9.17\n$9.55\n$9.55\n$9.50\n$9.50\n$9.61\n$9.61\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n$1.27\n$1.27\n15\n15\n16\n16\n$1.31\n$1.31\n$1.28\n$1.28\n$1.18\n$1.18\n$1.20\n$1.20\n$1.06\n$1.06\n$1.10\n$1.10\n$1.12\n$1.12\n$0.92\n$0.92\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\nDiluted Earnings Per Share**\nDiluted Earnings Per Share**\nDollars per share\nDollars per share\n6.7% CAGR\n6.7% CAGR\n$1.64\n$1.64\n$1.12\n$1.12\n$0.87\n$0.87\n$0.93\n$0.93\n$0.97\n$0.97\n11\n11\n12\n12\n13\n13\n14\n14\nAnnual Dividends**\nAnnual Dividends**\nDollars per share\nDollars per share\n14.6% CAGR\n14.6% CAGR\n$0.25\n$0.25\n$0.30\n$0.30\n$0.34\n$0.34\n11\n11\n12\n12\n13\n13\n$1.86\n$1.86\n$1.80\n$1.80\n$1.57\n$1.57\n17\n17\n$1.66\n$1.66\n$1.66\n$1.66\n18\n18\n19\n19\n20\n20\n21\n21\n$0.93\n$0.93\n$0.98\n$0.98\n$0.84\n$0.84\n$0.75\n$0.75\n$0.68\n$0.68\n$0.58\n$0.58\n$0.50\n$0.50\n$0.40\n$0.40\n14\n14\n15\n15\n16\n16\n17\n17\n18\n18\n19\n19\n20\n20\n21\n21\n* _x0007_ Fiscal year 2018 and prior years have been adjusted due to the adoption\nof ASU 2017-07, Compensation – Retirement Benefits: Improving the\nPresentation of Net Periodic Pension Cost and Net Periodic Postretirement\nBenefit Cost (Topic 715).\n* * _x0007_ Per-share figures have been restated to reflect the two-for-one stock\nsplits distributed on Feb. 14, 2011, and Feb. 9, 2016. Fiscal years 2016\nand 2021 included 53 weeks.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000111_segments",
      "report_id": "ID_000111",
      "company_name": "Hormel Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "U.S. retail, U.S. foodservice, U.S. deli, and\ninternational",
      "golden_context": "Page 27:\n\nExecutive Overview\nFiscal 2021: The Company achieved record sales of $11.4 billion, a 19 percent increase from fiscal 2020, driven by double-digit\ngrowth from all four business segments and from all four go-to-market channels (U.S. retail, U.S. foodservice, U.S. deli, and\ninternational).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_cash_flow",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1135m, investing -258m, financing -487m",
      "golden_context": "Page 38:\n\nCash Flow Highlights\nIn millions Fiscal Year Ended\nOctober 30, 2022 October 31, 2021\nCash and Cash Equivalents $ 982 $ 614\nCash Provided By (Used in) Operating Activities 1,135 1,002\nCash Provided by (Used in) Investing Activities (258) (3,626)\nCash Provided by (Used in) Financing Activities (487) 1,521",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_company_type",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 14:\n\nD EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 30, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________________ to _________________________\nCommission File Number: 1-2402\nHORMEL FOODS CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 41-0319970\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1 Hormel Place, Austin Minnesota 55912-3680\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code (507) 437-5611 Securities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock $0.01465 par value HRL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No\n☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulations S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period\nthat the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_key_financials",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 12bn, EPS basic 1.84, EPS diluted 1.82",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2022 2021 Change % Change\nNet Sales $ 12,458,806 $ 11,386,189 $ 1,072,617 9.4\nNet Earnings Attributable to Hormel Foods Corporation 999,987 908,839 91,148 10.0\nPercent of Sales 8.0% 8.0%\nEarnings Per Share\nBasic $ 1.84 $ 1.68 $ 0.16 9.5\nDiluted 1.82 1.66 0.16 9.6\nDividends Paid on Common Stock 557,839 523,114 34,725 6.6\nPer Share of Common Stock 1.04 0.98 0.06 6.1\nAverage Common Shares Outstanding\nBasic 544,918 541,114 3,804 0.7\nDiluted 549,566 547,580 1,986 0.4\nCapital Expenditures $ 278,918 $ 232,416 $ 46,502 20.0\nDepreciation and Amortization 262,753 228,406 34,347 15.0\nWorking Capital 2,163,858 1,532,162 631,696 41.2\nHormel Foods Corporation Shareholders’ Investment 7,535,284 6,972,883 562,401 8.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_revenue",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "12bn",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2022 2021 Change % Change\nNet Sales $ 12,458,806 $ 11,386,189 $ 1,072,617 9.4\nNet Earnings Attributable to Hormel Foods Corporation 999,987 908,839 91,148 10.0\nPercent of Sales 8.0% 8.0%\nEarnings Per Share\nBasic $ 1.84 $ 1.68 $ 0.16 9.5\nDiluted 1.82 1.66 0.16 9.6\nDividends Paid on Common Stock 557,839 523,114 34,725 6.6\nPer Share of Common Stock 1.04 0.98 0.06 6.1\nAverage Common Shares Outstanding\nBasic 544,918 541,114 3,804 0.7\nDiluted 549,566 547,580 1,986 0.4\nCapital Expenditures $ 278,918 $ 232,416 $ 46,502 20.0\nDepreciation and Amortization 262,753 228,406 34,347 15.0\nWorking Capital 2,163,858 1,532,162 631,696 41.2\nHormel Foods Corporation Shareholders’ Investment 7,535,284 6,972,883 562,401 8.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_revenue_growth",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "12bn, prior year 11bn",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2022 2021 Change % Change\nNet Sales $ 12,458,806 $ 11,386,189 $ 1,072,617 9.4\nNet Earnings Attributable to Hormel Foods Corporation 999,987 908,839 91,148 10.0\nPercent of Sales 8.0% 8.0%\nEarnings Per Share\nBasic $ 1.84 $ 1.68 $ 0.16 9.5\nDiluted 1.82 1.66 0.16 9.6\nDividends Paid on Common Stock 557,839 523,114 34,725 6.6\nPer Share of Common Stock 1.04 0.98 0.06 6.1\nAverage Common Shares Outstanding\nBasic 544,918 541,114 3,804 0.7\nDiluted 549,566 547,580 1,986 0.4\nCapital Expenditures $ 278,918 $ 232,416 $ 46,502 20.0\nDepreciation and Amortization 262,753 228,406 34,347 15.0\nWorking Capital 2,163,858 1,532,162 631,696 41.2\nHormel Foods Corporation Shareholders’ Investment 7,535,284 6,972,883 562,401 8.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000112_segments",
      "report_id": "ID_000112",
      "company_name": "Hormel Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Grocery products, refrigerated foods, Jennie-O Turkey Store, International & Other",
      "golden_context": "Page 16:\n\nDescription of Business\nSegments\nThe Company manages and reports its operating results in the following four segments: Grocery Products, Refrigerated Foods,\nJennie-O Turkey Store, and International & Other. Net sales to unaffiliated customers, segment profit, and the presentation of\ncertain other financial information by segment are reported in Note P - Segment Reporting of the Notes to Consolidated Financial\nStatements and in the Management's Discussion and Analysis of Financial Condition and Results of Operations.\nGrocery Products: The Grocery Products segment primarily consists of the processing, marketing, and sale of shelf-stable\nfood products sold predominantly in the retail market, along with the sale of nutritional and private label shelf-stable products\nto retail, foodservice, and industrial customers. This segment also includes the results from the Company’s MegaMex Foods,\nLLC (MegaMex) joint venture.\nRefrigerated Foods: The Refrigerated Foods segment includes the processing, marketing, and sale of branded and\nunbranded pork, beef, and poultry products for retail, foodservice, deli, convenience store, and commercial customers.\nJennie-O Turkey Store: The Jennie-O Turkey Store segment primarily consists of the processing, marketing, and sale of\nbranded and unbranded turkey products for retail, foodservice, and commercial customers.\nInternational & Other: The International & Other segment includes Hormel Foods International, which manufactures,\nmarkets, and sells Company products internationally. This segment also includes the results from the Company’s\ninternational royalty arrangements and other joint ventures.\nDuring the fourth quarter of fiscal 2022, the Company announced a new strategic operating model, which aligns its businesses to\nbe more agile, consumer and customer focused, and market driven. Effective in fiscal 2023, the Company will transition to this\nnew model with the following three operating and reportable segments: Retail, Foodservice, and International. Prior period\nresults will be reclassified to reflect these new reportable segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_cash_flow",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities 1048m, investing -690m, financing -600m",
      "golden_context": "Page 42:\n\nsh Provided by (Used in) Operating Activities\n▪ Cash flows from operating activities were largely impacted by changes in operating assets and liabilities.\n– Accounts receivable decreased $49 million in fiscal 2023 primarily due to timing of sales and more efficient\ncollections. The $28 million decrease in fiscal 2022 is largely due to timing of collections.\n– In fiscal 2023, inventory decreased $36 million as a result of strategic inventory management efforts implemented\nto address elevated inventory levels. The $352 million increase in fiscal 2022 is due to inflation in raw material and\nother input costs and maintaining higher inventory levels.\n– Prepaid expenses and other assets increased $69 million in fiscal 2023 primarily due to cash collateral\nrequirements for the Company's hedging programs and timing of payments related to infrastructure improvement\ncommitments. The increase in fiscal 2022 of $15 million is primarily due to the timing of payments.\n– Accounts payable and accrued expenses decreased $141 million in fiscal 2023 related to the timing of payments\nand lower promotional and incentive compensation expenses. In fiscal 2022, accounts payable and accrued\nexpenses decreased $15 million related to the timing of payments.\nCash Provided by (Used in) Investing Activities\n▪ In fiscal 2023, the Company acquired a minority interest in Garudafood for $426 million, including associated transaction\ncosts.\n▪ Capital expenditures were $270 million and $279 million in fiscal 2023 and 2022, respectively. The largest projects for fiscal\n2023 included a new production line for the SPAM® family of products in Dubuque, Iowa, initial phases of the transition from\nharvest to value-added capacity in Barron, Wisconsin, wastewater infrastructure in Austin, Minnesota, and pepperoni\ncapacity in Omaha, Nebraska. The largest spend in fiscal 2022 also included the capacity expansion for SPAM® and\npepperoni as well as for bacon in Austin, Minnesota.\nCash Provided by (Used in) Financing Activities\n▪ Cash dividends paid to the Company’s shareholders are an ongoing financing activity for the Company with payments\ntotaling $593 million in fiscal 2023 and $558 million in fiscal 2022. The dividend rate was $1.10 per share in fiscal 2023\ncompared to $1.04 per share in fiscal 2022.\n▪ During fiscal 2023, the Company repurchased 310,000 shares for $12 million.\n\nPage 43:\n\nsh Provided by (Used in) Operating Activities\n▪ Cash flows from operating activities were largely impacted by changes in operating assets and liabilities.\n– Accounts receivable decreased $49 million in fiscal 2023 primarily due to timing of sales and more efficient\ncollections. The $28 million decrease in fiscal 2022 is largely due to timing of collections.\n– In fiscal 2023, inventory decreased $36 million as a result of strategic inventory management efforts implemented\nto address elevated inventory levels. The $352 million increase in fiscal 2022 is due to inflation in raw material and\nother input costs and maintaining higher inventory levels.\n– Prepaid expenses and other assets increased $69 million in fiscal 2023 primarily due to cash collateral\nrequirements for the Company's hedging programs and timing of payments related to infrastructure improvement\ncommitments. The increase in fiscal 2022 of $15 million is primarily due to the timing of payments.\n– Accounts payable and accrued expenses decreased $141 million in fiscal 2023 related to the timing of payments\nand lower promotional and incentive compensation expenses. In fiscal 2022, accounts payable and accrued\nexpenses decreased $15 million related to the timing of payments.\nCash Provided by (Used in) Investing Activities\n▪ In fiscal 2023, the Company acquired a minority interest in Garudafood for $426 million, including associated transaction\ncosts.\n▪ Capital expenditures were $270 million and $279 million in fiscal 2023 and 2022, respectively. The largest projects for fiscal\n2023 included a new production line for the SPAM® family of products in Dubuque, Iowa, initial phases of the transition from\nharvest to value-added capacity in Barron, Wisconsin, wastewater infrastructure in Austin, Minnesota, and pepperoni\ncapacity in Omaha, Nebraska. The largest spend in fiscal 2022 also included the capacity expansion for SPAM® and\npepperoni as well as for bacon in Austin, Minnesota.\nCash Provided by (Used in) Financing Activities\n▪ Cash dividends paid to the Company’s shareholders are an ongoing financing activity for the Company with payments\ntotaling $593 million in fiscal 2023 and $558 million in fiscal 2022. The dividend rate was $1.10 per share in fiscal 2023\ncompared to $1.04 per share in fiscal 2022.\n▪ During fiscal 2023, the Company repurchased 310,000 shares for $12 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_company_type",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 14:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 29, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________________ to _________________________\nCommission File Number: 1-2402\nHORMEL FOODS CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 41-0319970\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1 Hormel Place, Austin Minnesota 55912-3680\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code (507) 437-5611\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock $0.01465 par value HRL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No\n☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_key_financials",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 12.1bn, EPS basic 1.45, dividends per share 1.1",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2023 2022 Change % Change\nNet Sales $12,110,010 $12,458,806 $ (348,796) (2.8)\nNet Earnings Attributable to Hormel Foods Corporation 793,572 999,987 (206,415) (20.6)\nPercent of Sales 6.6% 8.0%\nEarnings Per Share\nBasic $ 1.45 $ 1.84 $ (0.39) (21.2)\nDiluted 1.45 1.82 (0.37) (20.3)\nDividends Paid on Common Stock 592,932 557,839 35,093 6.3\nPer Share of Common Stock 1.10 1.04 0.06 5.8\nAverage Common Shares Outstanding\nBasic 546,421 544,918 1,503 0.3\nDiluted 548,982 549,566 (584) (0.1)\nCapital Expenditures $ 270,211 $ 278,918 $ (8,707) (3.1)\nDepreciation and Amortization 253,311 235,885 17,426 7.4\nWorking Capital 985,473 2,163,858 (1,178,385) (54.5)\nHormel Foods Corporation Shareholders' Investment 7,734,885 7,535,284 199,601 2.6\nNet sales\nDiluted earnings per share**\nDollars in billions\n3.3% CAGR\n$8.75 $9.32\n$12.46\n$12.11\n$11.39\n$1.66 $1.66\n$9.26 $9.52 $9.17 $9.55 $9.50 $9.61\nDollars per share\n4.1% CAGR\n$1.86 $1.80\n$1.82\n$1.64 $1.57\n$1.27\n$1.12\n$0.97\n$1.45\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\nOperating income*\nAnnual dividends**\nDollars in billions\n2.6% CAGR\n$1.31 $1.28\n$1.06\n$0.92\n$0.83\n$1.31\nDollars per share\n12.5% CAGR\n$1.10\n$1.18 $1.20\n$1.10 $1.12\n$1.07\n$0.93 $0.98 $1.04\n$0.75\n$0.84\n$0.68\n$0.58\n$0.50\n$0.40\n$0.34\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_revenue",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "12.1bn",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2023 2022 Change % Change\nNet Sales $12,110,010 $12,458,806 $ (348,796) (2.8)\nNet Earnings Attributable to Hormel Foods Corporation 793,572 999,987 (206,415) (20.6)\nPercent of Sales 6.6% 8.0%\nEarnings Per Share\nBasic $ 1.45 $ 1.84 $ (0.39) (21.2)\nDiluted 1.45 1.82 (0.37) (20.3)\nDividends Paid on Common Stock 592,932 557,839 35,093 6.3\nPer Share of Common Stock 1.10 1.04 0.06 5.8\nAverage Common Shares Outstanding\nBasic 546,421 544,918 1,503 0.3\nDiluted 548,982 549,566 (584) (0.1)\nCapital Expenditures $ 270,211 $ 278,918 $ (8,707) (3.1)\nDepreciation and Amortization 253,311 235,885 17,426 7.4\nWorking Capital 985,473 2,163,858 (1,178,385) (54.5)\nHormel Foods Corporation Shareholders' Investment 7,734,885 7,535,284 199,601 2.6\nNet sales\nDiluted earnings per share**\nDollars in billions\n3.3% CAGR\n$8.75 $9.32\n$12.46\n$12.11\n$11.39\n$1.66 $1.66\n$9.26 $9.52 $9.17 $9.55 $9.50 $9.61\nDollars per share\n4.1% CAGR\n$1.86 $1.80\n$1.82\n$1.64 $1.57\n$1.27\n$1.12\n$0.97\n$1.45\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\nOperating income*\nAnnual dividends**\nDollars in billions\n2.6% CAGR\n$1.31 $1.28\n$1.06\n$0.92\n$0.83\n$1.31\nDollars per share\n12.5% CAGR\n$1.10\n$1.18 $1.20\n$1.10 $1.12\n$1.07\n$0.93 $0.98 $1.04\n$0.75\n$0.84\n$0.68\n$0.58\n$0.50\n$0.40\n$0.34\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_revenue_growth",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "12.1bn, 12.5 prior year",
      "golden_context": "Page 12:\n\nSelected financial data\n(in thousands, except per-share amounts) 2023 2022 Change % Change\nNet Sales $12,110,010 $12,458,806 $ (348,796) (2.8)\nNet Earnings Attributable to Hormel Foods Corporation 793,572 999,987 (206,415) (20.6)\nPercent of Sales 6.6% 8.0%\nEarnings Per Share\nBasic $ 1.45 $ 1.84 $ (0.39) (21.2)\nDiluted 1.45 1.82 (0.37) (20.3)\nDividends Paid on Common Stock 592,932 557,839 35,093 6.3\nPer Share of Common Stock 1.10 1.04 0.06 5.8\nAverage Common Shares Outstanding\nBasic 546,421 544,918 1,503 0.3\nDiluted 548,982 549,566 (584) (0.1)\nCapital Expenditures $ 270,211 $ 278,918 $ (8,707) (3.1)\nDepreciation and Amortization 253,311 235,885 17,426 7.4\nWorking Capital 985,473 2,163,858 (1,178,385) (54.5)\nHormel Foods Corporation Shareholders' Investment 7,734,885 7,535,284 199,601 2.6\nNet sales\nDiluted earnings per share**\nDollars in billions\n3.3% CAGR\n$8.75 $9.32\n$12.46\n$12.11\n$11.39\n$1.66 $1.66\n$9.26 $9.52 $9.17 $9.55 $9.50 $9.61\nDollars per share\n4.1% CAGR\n$1.86 $1.80\n$1.82\n$1.64 $1.57\n$1.27\n$1.12\n$0.97\n$1.45\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\nOperating income*\nAnnual dividends**\nDollars in billions\n2.6% CAGR\n$1.31 $1.28\n$1.06\n$0.92\n$0.83\n$1.31\nDollars per share\n12.5% CAGR\n$1.10\n$1.18 $1.20\n$1.10 $1.12\n$1.07\n$0.93 $0.98 $1.04\n$0.75\n$0.84\n$0.68\n$0.58\n$0.50\n$0.40\n$0.34\n13 14 15 16 17 18 19 20 21 22 23\n13 14 15 16 17 18 19 20 21 22 23\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000113_segments",
      "report_id": "ID_000113",
      "company_name": "Hormel Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Retail, Foodservice, and International",
      "golden_context": "Page 3:\n\nThe Company transitioned to three operating segments — Retail,\nFoodservice and International — at the beginning of fiscal 2023. These\nsegments are supported by Brand Fuel, which houses enterprisewide\nbrand management expertise, e-commerce capabilities, insights-led\ninnovation and analytical support; One Supply Chain, the Company’s\ncentralized supply chain function; and other centers of excellence",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_cash_flow",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 2715m, investing -5836m, financing 3758m, total cash flow 603m",
      "golden_context": "Page 92:\n\nSelected Financial Data\n2022 2021 2020 2019 2018\nStatement of Operations Data for the Years Ended December 31: (in millions, except per share amounts)\nRevenue $ 12,617 $ 11,141 $ 9,660 $ 10,189 $ 10,736\nIncome (loss) from continuing operations (1) (505) (955) 149 477 1,349\nIncome (loss) from continuing operations attributable to The AES Corporation, net\nof tax (546) (413) 43 302 985\nIncome from discontinued operations attributable to The AES Corporation, net of\ntax (2) — 4 3 1 218\nNet income (loss) attributable to The AES Corporation $ (546) $ (409) $ 46 $ 303 $ 1,203\nPer Common Share Data\nBasic earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.46 $ 1.49\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.46 $ 1.82\nDiluted earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.45 $ 1.48\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.45 $ 1.81\nDividends Declared Per Common Share $ 0.64 $ 0.61 $ 0.58 $ 0.55 $ 0.53\nCash Flow Data for the Years Ended December 31:\nNet cash provided by operating activities $ 2,715 $ 1,902 $ 2,755 $ 2,466 $ 2,343\nNet cash used in investing activities (5,836) (3,051) (2,295) (2,721) (505)\nNet cash provided by (used in) financing activities 3,758 797 (78) (86) (1,643)\nTotal increase (decrease) in cash, cash equivalents and restricted cash 603 (343) 255 (431) 215\nCash, cash equivalents and restricted cash, ending 2,087 1,484 1,827 1,572 2,003\nBalance Sheet Data at December 31:\nTotal assets $ 38,363 $ 32,963 $ 34,603 $ 33,648 $ 32,521\nNon-recourse debt (noncurrent) 17,846 13,603 15,005 14,914 13,986\nRecourse debt (noncurrent) 3,894 3,729 3,446 3,391 3,650\nRedeemable stock of subsidiaries 1,321 1,257 872 888 879\nAccumulated deficit (1,635) (1,089) (680) (692) (1,005)\nThe AES Corporation stockholders' equity 2,437 2,798 2,634 2,996 3,208\n_____________________________\n(1) Includes pre-tax losses on sales of business interests of $9 million, $1.7 billion, and $95 million for the years ended December 31, 2022, 2021, and 2020,\nrespectively, and pre-tax gains of $28 million and $984 million for the years ended December 31, 2019, and 2018, respectively; pre-tax impairment expense of\n$1.5 billion, $1.6 billion, $864 million, $185 million, and $208 million for the years ended December 31, 2022, 2021, 2020, 2019, and 2018, respectively; other-\nthan-temporary impairment of equity method investments of $175 million, $202 million, $92 million, and $147 million for the years ended December 31, 2022,\n2020, 2019, and 2018, respectively; income tax benefit of $176 million related to the reversal of uncertain tax positions effectively settled upon the closure of\nthe Company's 2017 U.S. tax return exam for the year ended December 31, 2021 and income tax expense of $194 million related to the one-time transition tax\non foreign earnings and income tax benefit of $77 million related to the remeasurement of deferred tax assets and liabilities to the lower corporate tax rate for\nthe year ended December 31, 2018; and net equity in losses of affiliates, primarily at Guacolda, of $123 million, and $172 million, for the years ended\nDecember 31, 2020 and 2019, respectively. See Note 24—Held-for-Sale and Dispositions, Note 22—Asset Impairment Expense, Note 9 —Goodwill and Other\nIntangible Assets, Note 8—Investments in and Advances to Affiliates and Note 23—Income Taxes included in Item 8.—Financial Statements and\nSupplementary Data of this Form 10-K for further information.\n(2) Includes gain on sale of $199 million related to Eletropaulo for the year ended December 31, 2018.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_company_type",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 9:\n\nITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n____________________________________\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the Fiscal Year Ended December 31, 2022\n-OR-\n☐ TRANSITION REPORT FILED PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nCommission file number 1-12291\n(Zip Code)\nTHE AES CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 54-1163725\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n4300 Wilson Boulevard\nArlington, Virginia 22203\n(Address of principal executive offices) Registrant's telephone number, including area code: (703) 522-1315\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Tra",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_key_financials",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "13bn revenue, total cash flow 603m",
      "golden_context": "Page 92:\n\nSelected Financial Data\n2022 2021 2020 2019 2018\nStatement of Operations Data for the Years Ended December 31: (in millions, except per share amounts)\nRevenue $ 12,617 $ 11,141 $ 9,660 $ 10,189 $ 10,736\nIncome (loss) from continuing operations (1) (505) (955) 149 477 1,349\nIncome (loss) from continuing operations attributable to The AES Corporation, net\nof tax (546) (413) 43 302 985\nIncome from discontinued operations attributable to The AES Corporation, net of\ntax (2) — 4 3 1 218\nNet income (loss) attributable to The AES Corporation $ (546) $ (409) $ 46 $ 303 $ 1,203\nPer Common Share Data\nBasic earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.46 $ 1.49\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.46 $ 1.82\nDiluted earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.45 $ 1.48\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.45 $ 1.81\nDividends Declared Per Common Share $ 0.64 $ 0.61 $ 0.58 $ 0.55 $ 0.53\nCash Flow Data for the Years Ended December 31:\nNet cash provided by operating activities $ 2,715 $ 1,902 $ 2,755 $ 2,466 $ 2,343\nNet cash used in investing activities (5,836) (3,051) (2,295) (2,721) (505)\nNet cash provided by (used in) financing activities 3,758 797 (78) (86) (1,643)\nTotal increase (decrease) in cash, cash equivalents and restricted cash 603 (343) 255 (431) 215\nCash, cash equivalents and restricted cash, ending 2,087 1,484 1,827 1,572 2,003\nBalance Sheet Data at December 31:\nTotal assets $ 38,363 $ 32,963 $ 34,603 $ 33,648 $ 32,521\nNon-recourse debt (noncurrent) 17,846 13,603 15,005 14,914 13,986\nRecourse debt (noncurrent) 3,894 3,729 3,446 3,391 3,650\nRedeemable stock of subsidiaries 1,321 1,257 872 888 879\nAccumulated deficit (1,635) (1,089) (680) (692) (1,005)\nThe AES Corporation stockholders' equity 2,437 2,798 2,634 2,996 3,208\n_____________________________\n(1) Includes pre-tax losses on sales of business interests of $9 million, $1.7 billion, and $95 million for the years ended December 31, 2022, 2021, and 2020,\nrespectively, and pre-tax gains of $28 million and $984 million for the years ended December 31, 2019, and 2018, respectively; pre-tax impairment expense of\n$1.5 billion, $1.6 billion, $864 million, $185 million, and $208 million for the years ended December 31, 2022, 2021, 2020, 2019, and 2018, respectively; other-\nthan-temporary impairment of equity method investments of $175 million, $202 million, $92 million, and $147 million for the years ended December 31, 2022,\n2020, 2019, and 2018, respectively; income tax benefit of $176 million related to the reversal of uncertain tax positions effectively settled upon the closure of\nthe Company's 2017 U.S. tax return exam for the year ended December 31, 2021 and income tax expense of $194 million related to the one-time transition tax\non foreign earnings and income tax benefit of $77 million related to the remeasurement of deferred tax assets and liabilities to the lower corporate tax rate for\nthe year ended December 31, 2018; and net equity in losses of affiliates, primarily at Guacolda, of $123 million, and $172 million, for the years ended\nDecember 31, 2020 and 2019, respectively. See Note 24—Held-for-Sale and Dispositions, Note 22—Asset Impairment Expense, Note 9 —Goodwill and Other\nIntangible Assets, Note 8—Investments in and Advances to Affiliates and Note 23—Income Taxes included in Item 8.—Financial Statements and\nSupplementary Data of this Form 10-K for further information.\n(2) Includes gain on sale of $199 million related to Eletropaulo for the year ended December 31, 2018.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_revenue",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "13bn revenue",
      "golden_context": "Page 92:\n\nSelected Financial Data\n2022 2021 2020 2019 2018\nStatement of Operations Data for the Years Ended December 31: (in millions, except per share amounts)\nRevenue $ 12,617 $ 11,141 $ 9,660 $ 10,189 $ 10,736\nIncome (loss) from continuing operations (1) (505) (955) 149 477 1,349\nIncome (loss) from continuing operations attributable to The AES Corporation, net\nof tax (546) (413) 43 302 985\nIncome from discontinued operations attributable to The AES Corporation, net of\ntax (2) — 4 3 1 218\nNet income (loss) attributable to The AES Corporation $ (546) $ (409) $ 46 $ 303 $ 1,203\nPer Common Share Data\nBasic earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.46 $ 1.49\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.46 $ 1.82\nDiluted earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.45 $ 1.48\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.45 $ 1.81\nDividends Declared Per Common Share $ 0.64 $ 0.61 $ 0.58 $ 0.55 $ 0.53\nCash Flow Data for the Years Ended December 31:\nNet cash provided by operating activities $ 2,715 $ 1,902 $ 2,755 $ 2,466 $ 2,343\nNet cash used in investing activities (5,836) (3,051) (2,295) (2,721) (505)\nNet cash provided by (used in) financing activities 3,758 797 (78) (86) (1,643)\nTotal increase (decrease) in cash, cash equivalents and restricted cash 603 (343) 255 (431) 215\nCash, cash equivalents and restricted cash, ending 2,087 1,484 1,827 1,572 2,003\nBalance Sheet Data at December 31:\nTotal assets $ 38,363 $ 32,963 $ 34,603 $ 33,648 $ 32,521\nNon-recourse debt (noncurrent) 17,846 13,603 15,005 14,914 13,986\nRecourse debt (noncurrent) 3,894 3,729 3,446 3,391 3,650\nRedeemable stock of subsidiaries 1,321 1,257 872 888 879\nAccumulated deficit (1,635) (1,089) (680) (692) (1,005)\nThe AES Corporation stockholders' equity 2,437 2,798 2,634 2,996 3,208\n_____________________________\n(1) Includes pre-tax losses on sales of business interests of $9 million, $1.7 billion, and $95 million for the years ended December 31, 2022, 2021, and 2020,\nrespectively, and pre-tax gains of $28 million and $984 million for the years ended December 31, 2019, and 2018, respectively; pre-tax impairment expense of\n$1.5 billion, $1.6 billion, $864 million, $185 million, and $208 million for the years ended December 31, 2022, 2021, 2020, 2019, and 2018, respectively; other-\nthan-temporary impairment of equity method investments of $175 million, $202 million, $92 million, and $147 million for the years ended December 31, 2022,\n2020, 2019, and 2018, respectively; income tax benefit of $176 million related to the reversal of uncertain tax positions effectively settled upon the closure of\nthe Company's 2017 U.S. tax return exam for the year ended December 31, 2021 and income tax expense of $194 million related to the one-time transition tax\non foreign earnings and income tax benefit of $77 million related to the remeasurement of deferred tax assets and liabilities to the lower corporate tax rate for\nthe year ended December 31, 2018; and net equity in losses of affiliates, primarily at Guacolda, of $123 million, and $172 million, for the years ended\nDecember 31, 2020 and 2019, respectively. See Note 24—Held-for-Sale and Dispositions, Note 22—Asset Impairment Expense, Note 9 —Goodwill and Other\nIntangible Assets, Note 8—Investments in and Advances to Affiliates and Note 23—Income Taxes included in Item 8.—Financial Statements and\nSupplementary Data of this Form 10-K for further information.\n(2) Includes gain on sale of $199 million related to Eletropaulo for the year ended December 31, 2018.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_revenue_growth",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "13bn revenue, preior year 11bn",
      "golden_context": "Page 92:\n\nSelected Financial Data\n2022 2021 2020 2019 2018\nStatement of Operations Data for the Years Ended December 31: (in millions, except per share amounts)\nRevenue $ 12,617 $ 11,141 $ 9,660 $ 10,189 $ 10,736\nIncome (loss) from continuing operations (1) (505) (955) 149 477 1,349\nIncome (loss) from continuing operations attributable to The AES Corporation, net\nof tax (546) (413) 43 302 985\nIncome from discontinued operations attributable to The AES Corporation, net of\ntax (2) — 4 3 1 218\nNet income (loss) attributable to The AES Corporation $ (546) $ (409) $ 46 $ 303 $ 1,203\nPer Common Share Data\nBasic earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.46 $ 1.49\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.46 $ 1.82\nDiluted earnings (loss) per share:\nIncome (loss) from continuing operations attributable to The AES Corporation\ncommon stockholders, net of tax $ (0.82) $ (0.62) $ 0.06 $ 0.45 $ 1.48\nIncome from discontinued operations attributable to The AES Corporation\ncommon stockholders, net of tax — 0.01 0.01 — 0.33\nNet income (loss) attributable to The AES Corporation common stockholders $ (0.82) $ (0.61) $ 0.07 $ 0.45 $ 1.81\nDividends Declared Per Common Share $ 0.64 $ 0.61 $ 0.58 $ 0.55 $ 0.53\nCash Flow Data for the Years Ended December 31:\nNet cash provided by operating activities $ 2,715 $ 1,902 $ 2,755 $ 2,466 $ 2,343\nNet cash used in investing activities (5,836) (3,051) (2,295) (2,721) (505)\nNet cash provided by (used in) financing activities 3,758 797 (78) (86) (1,643)\nTotal increase (decrease) in cash, cash equivalents and restricted cash 603 (343) 255 (431) 215\nCash, cash equivalents and restricted cash, ending 2,087 1,484 1,827 1,572 2,003\nBalance Sheet Data at December 31:\nTotal assets $ 38,363 $ 32,963 $ 34,603 $ 33,648 $ 32,521\nNon-recourse debt (noncurrent) 17,846 13,603 15,005 14,914 13,986\nRecourse debt (noncurrent) 3,894 3,729 3,446 3,391 3,650\nRedeemable stock of subsidiaries 1,321 1,257 872 888 879\nAccumulated deficit (1,635) (1,089) (680) (692) (1,005)\nThe AES Corporation stockholders' equity 2,437 2,798 2,634 2,996 3,208\n_____________________________\n(1) Includes pre-tax losses on sales of business interests of $9 million, $1.7 billion, and $95 million for the years ended December 31, 2022, 2021, and 2020,\nrespectively, and pre-tax gains of $28 million and $984 million for the years ended December 31, 2019, and 2018, respectively; pre-tax impairment expense of\n$1.5 billion, $1.6 billion, $864 million, $185 million, and $208 million for the years ended December 31, 2022, 2021, 2020, 2019, and 2018, respectively; other-\nthan-temporary impairment of equity method investments of $175 million, $202 million, $92 million, and $147 million for the years ended December 31, 2022,\n2020, 2019, and 2018, respectively; income tax benefit of $176 million related to the reversal of uncertain tax positions effectively settled upon the closure of\nthe Company's 2017 U.S. tax return exam for the year ended December 31, 2021 and income tax expense of $194 million related to the one-time transition tax\non foreign earnings and income tax benefit of $77 million related to the remeasurement of deferred tax assets and liabilities to the lower corporate tax rate for\nthe year ended December 31, 2018; and net equity in losses of affiliates, primarily at Guacolda, of $123 million, and $172 million, for the years ended\nDecember 31, 2020 and 2019, respectively. See Note 24—Held-for-Sale and Dispositions, Note 22—Asset Impairment Expense, Note 9 —Goodwill and Other\nIntangible Assets, Note 8—Investments in and Advances to Affiliates and Note 23—Income Taxes included in Item 8.—Financial Statements and\nSupplementary Data of this Form 10-K for further information.\n(2) Includes gain on sale of $199 million related to Eletropaulo for the year ended December 31, 2018.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000116_segments",
      "report_id": "ID_000116",
      "company_name": "AES",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "US and Utilities, South America, MCAC, Eurasia",
      "golden_context": "Page 19:\n\nSegments\nThe segment reporting structure uses the Company's management reporting structure as its foundation to\nreflect how the Company manages the businesses internally and is mainly organized by geographic regions which\nprovides a socio-political-economic understanding of our business.\nWe are organized into four market-oriented SBUs: US and Utilities (United States, Puerto Rico and El\nSalvador); South America (Chile, Colombia, Argentina and Brazil); MCAC (Mexico, Central America and the\nCaribbean); and Eurasia (Europe and Asia) — which are led by our SBU Presidents. We have two lines of\nbusiness: generation and utilities. Each of our SBUs participates in our first business line, generation, in which we\nown and/or operate power plants to generate and sell power to customers, such as utilities, industrial users, and\nother intermediaries. Our US and Utilities SBU participates in our second business line, utilities, in which we own\nand/or operate utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the\nresidential, commercial, industrial and governmental sectors within a defined service area. In certain circumstances,\nour utilities also generate and sell electricity on the wholesale market.\nWe measure the operating performance of our SBUs using Adjusted PTC, a non-GAAP measure. The Adjusted\nPTC by SBU for the year ended December 31, 2022 is shown below. The percentages for Adjusted PTC are the\ncontribution by each SBU to the gross metric, i.e., the total Adjusted PTC by SBU, before deductions for Corporate.\nSee Item 7.—Management's Discussion and Analysis of Financial Condition and Results of Operations—SBU\nPerformance Analysis of this Form 10-K for reconciliation and definitions of Adjusted PTC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_cash_flow",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow -4582m",
      "golden_context": "Page 2:\n\nAt a glance\nRWE Group – key figures1 2023 2022 +\n\"/\"\nPower generation GWh 129,701 156,794 –\n\"27,093\nExternal revenue (excluding natural gas tax\"/\"electricity tax) ! million 28,566 38,415 –\n\"9,849\nAdjusted EBITDA ! million 8,378 6,310 2,068\nAdjusted EBIT ! million 6,349 4,568 1,781\nIncome before tax ! million 4,006 715 3,291\nNet income\"/\"income attributable to RWE AG shareholders ! million 1,450 2,717 –\n\"1,267\nAdjusted net income ! million 4,536 3,253 1,283\nCash flows from operating activities ! million 4,235 2,406 1,829\nCapital expenditure ! million 9,979 4,484 5,495\nProperty, plant and equipment and intangible assets ! million 5,146 3,303 1,843\nAcquisitions and financial assets ! million 4,833 1,181 3,652\nProportion of taxonomy-aligned investments2 % 89 83 Free cash flow ! million –\n\"4,582 –\n\"1,968 –\n\"2,614\nNumber of shares outstanding (annual average) thousands 743,841 691,2473 52,594\nEarnings per share ! 1.95 3.93 –\n\"1.98\nAdjusted net income per share ! 6.10 4.71 1.39\nDividend per share ! 1.004 0.90 0.10\n31 Dec 2023 31 Dec 2022\nNet debt (–)\"/\"net cash (+) ! million –\n\"6,587 1,630 –\n\"8,217\n–\n6\nWorkforce5 20,135 18,310 1,825\n1 Some prior-year figures restated; see commentary on page 41.\n2 Taxonomy-alignment is when an activity meets the applicable requirements under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding on 10 October 2022 have been prorated.\n4 Dividend proposal for fiscal 2023, subject to the passing of a resolution by the 3 May 2024 Annual General Meeting.\n5 Converted to full-time equivalent.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_company_type",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "AG",
      "golden_context": "Page 8:\n\n1.2 Executive Board of RWE AG\nMarkus Krebber has been a member of the RWE AG Executive Board since 2016, becoming\nChief Executive Officer in May 2021. Upon joining the RWE Group in 2012, he initially sat on\nthe Board of Directors of RWE Supply\"&\"Trading GmbH. From 2015 to 2017, he then steered\nthis company as CEO. Prior to moving to RWE, Markus Krebber held various management\npositions at Commerzbank. Between 2000 and 2005 he was a business consultant at\nMcKinsey\"&\"Company. Markus Krebber was born in 1973 in Kleve. He initially trained as a\nbanker before studying economics. He completed his doctorate at the Humboldt University of\nBerlin in 2007.\nMichael Müller has been a member of the RWE AG Executive Board since November 2020 and\nwas named Chief Financial Officer in May 2021. He has worked for the Group since 2005 and\nhas held various management positions including Head of Group Controlling at RWE Power AG,\nRWE Generation SE and RWE AG. In 2016, Michael Müller became a member of the\nManagement Board and Chief Financial Officer of RWE Supply\"&\"Trading GmbH. He worked in\nbusiness consultancy for McKinsey\"&\"Company in the five years before joining the RWE Group.\nMichael Müller was born in 1971 in Cologne. He first studied business and mechanical\nengineering before graduating with a doctorate in mechanical engineering.\nKatja von Doren has been a member of the RWE Executive Board since August 2023. Prior to\nbeing appointed as Chief Human Resources Officer and Labour Director, she held the position\nof Chief Financial Officer of RWE Generation SE from 2018. Katja van Doren started working\nfor RWE in 1999 and has held managem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_key_financials",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Adjusted EBITDA 8378m, free cash flow -4582m",
      "golden_context": "Page 2:\n\nAt a glance\nRWE Group – key figures1 2023 2022 +\n\"/\"\nPower generation GWh 129,701 156,794 –\n\"27,093\nExternal revenue (excluding natural gas tax\"/\"electricity tax) ! million 28,566 38,415 –\n\"9,849\nAdjusted EBITDA ! million 8,378 6,310 2,068\nAdjusted EBIT ! million 6,349 4,568 1,781\nIncome before tax ! million 4,006 715 3,291\nNet income\"/\"income attributable to RWE AG shareholders ! million 1,450 2,717 –\n\"1,267\nAdjusted net income ! million 4,536 3,253 1,283\nCash flows from operating activities ! million 4,235 2,406 1,829\nCapital expenditure ! million 9,979 4,484 5,495\nProperty, plant and equipment and intangible assets ! million 5,146 3,303 1,843\nAcquisitions and financial assets ! million 4,833 1,181 3,652\nProportion of taxonomy-aligned investments2 % 89 83 Free cash flow ! million –\n\"4,582 –\n\"1,968 –\n\"2,614\nNumber of shares outstanding (annual average) thousands 743,841 691,2473 52,594\nEarnings per share ! 1.95 3.93 –\n\"1.98\nAdjusted net income per share ! 6.10 4.71 1.39\nDividend per share ! 1.004 0.90 0.10\n31 Dec 2023 31 Dec 2022\nNet debt (–)\"/\"net cash (+) ! million –\n\"6,587 1,630 –\n\"8,217\n–\n6\nWorkforce5 20,135 18,310 1,825\n1 Some prior-year figures restated; see commentary on page 41.\n2 Taxonomy-alignment is when an activity meets the applicable requirements under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding on 10 October 2022 have been prorated.\n4 Dividend proposal for fiscal 2023, subject to the passing of a resolution by the 3 May 2024 Annual General Meeting.\n5 Converted to full-time equivalent.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_revenue",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "external revenue 28566m",
      "golden_context": "Page 2:\n\nAt a glance\nRWE Group – key figures1 2023 2022 +\n\"/\"\nPower generation GWh 129,701 156,794 –\n\"27,093\nExternal revenue (excluding natural gas tax\"/\"electricity tax) ! million 28,566 38,415 –\n\"9,849\nAdjusted EBITDA ! million 8,378 6,310 2,068\nAdjusted EBIT ! million 6,349 4,568 1,781\nIncome before tax ! million 4,006 715 3,291\nNet income\"/\"income attributable to RWE AG shareholders ! million 1,450 2,717 –\n\"1,267\nAdjusted net income ! million 4,536 3,253 1,283\nCash flows from operating activities ! million 4,235 2,406 1,829\nCapital expenditure ! million 9,979 4,484 5,495\nProperty, plant and equipment and intangible assets ! million 5,146 3,303 1,843\nAcquisitions and financial assets ! million 4,833 1,181 3,652\nProportion of taxonomy-aligned investments2 % 89 83 Free cash flow ! million –\n\"4,582 –\n\"1,968 –\n\"2,614\nNumber of shares outstanding (annual average) thousands 743,841 691,2473 52,594\nEarnings per share ! 1.95 3.93 –\n\"1.98\nAdjusted net income per share ! 6.10 4.71 1.39\nDividend per share ! 1.004 0.90 0.10\n31 Dec 2023 31 Dec 2022\nNet debt (–)\"/\"net cash (+) ! million –\n\"6,587 1,630 –\n\"8,217\n–\n6\nWorkforce5 20,135 18,310 1,825\n1 Some prior-year figures restated; see commentary on page 41.\n2 Taxonomy-alignment is when an activity meets the applicable requirements under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding on 10 October 2022 have been prorated.\n4 Dividend proposal for fiscal 2023, subject to the passing of a resolution by the 3 May 2024 Annual General Meeting.\n5 Converted to full-time equivalent.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_revenue_growth",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "external revenue 28566m, 38415m prior year",
      "golden_context": "Page 2:\n\nAt a glance\nRWE Group – key figures1 2023 2022 +\n\"/\"\nPower generation GWh 129,701 156,794 –\n\"27,093\nExternal revenue (excluding natural gas tax\"/\"electricity tax) ! million 28,566 38,415 –\n\"9,849\nAdjusted EBITDA ! million 8,378 6,310 2,068\nAdjusted EBIT ! million 6,349 4,568 1,781\nIncome before tax ! million 4,006 715 3,291\nNet income\"/\"income attributable to RWE AG shareholders ! million 1,450 2,717 –\n\"1,267\nAdjusted net income ! million 4,536 3,253 1,283\nCash flows from operating activities ! million 4,235 2,406 1,829\nCapital expenditure ! million 9,979 4,484 5,495\nProperty, plant and equipment and intangible assets ! million 5,146 3,303 1,843\nAcquisitions and financial assets ! million 4,833 1,181 3,652\nProportion of taxonomy-aligned investments2 % 89 83 Free cash flow ! million –\n\"4,582 –\n\"1,968 –\n\"2,614\nNumber of shares outstanding (annual average) thousands 743,841 691,2473 52,594\nEarnings per share ! 1.95 3.93 –\n\"1.98\nAdjusted net income per share ! 6.10 4.71 1.39\nDividend per share ! 1.004 0.90 0.10\n31 Dec 2023 31 Dec 2022\nNet debt (–)\"/\"net cash (+) ! million –\n\"6,587 1,630 –\n\"8,217\n–\n6\nWorkforce5 20,135 18,310 1,825\n1 Some prior-year figures restated; see commentary on page 41.\n2 Taxonomy-alignment is when an activity meets the applicable requirements under the EU Taxonomy Regulation.\n3 The new shares from the conversion of the mandatory convertible bond issued to Qatar Holding on 10 October 2022 have been prorated.\n4 Dividend proposal for fiscal 2023, subject to the passing of a resolution by the 3 May 2024 Annual General Meeting.\n5 Converted to full-time equivalent.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000118_segments",
      "report_id": "ID_000118",
      "company_name": "RWE",
      "year": 2023,
      "country": "DE",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Offshore Wind, Onshore Wind / Solar, Hydro / Biomass / Gas, Supply & Trading, Coal / Nuclear",
      "golden_context": "Page 40:\n\n2.5 Commentary on reporting\nIn our financial reporting, the RWE Group is broken down into five segments, which we\npresent in detail in this chapter. Our activities relating to renewable energy, gas-fired\npower plants, energy storage, hydrogen and energy trading are distributed among\nthe first four segments. They make up our core business, which we intend to grow. The\nfifth segment covers our lignite and nuclear operations, which are of no strategic\nsignificance to us due to legally mandated phaseout roadmaps.\nGroup structure with five segments. This report is based on a Group structure comprising\nfive segments. Operating responsibility for the activities they encompass is borne by\nsubsidiaries of RWE AG. The segments, the first four of which represent our core business,\nare divided as follows:\n1. Offshore Wind: We present our business relating to offshore wind here. It is overseen\nby RWE Offshore Wind.\n2. Onshore Wind!/!Solar: This is the segment in which we pool our onshore wind and solar\nbusiness as well as parts of our battery storage activities. Depending on the continent,\nthey are managed by RWE Renewables Europe\"&\"Australia or RWE Clean Energy, which\noperates in America.\n3. Hydro!/!Biomass!/!Gas: Our run-of-river, pumped storage, biomass and gas-fired power\nstations are pooled here. The segment also includes the Dutch Amer and Eemshaven\npower plants, which run on biomass and hard coal, as well as individual battery\nstorage systems. The project management and engineering consulting company\nRWE Technology International and our 37.9\"% stake in Austrian energy utility KELAG are\nalso allocated to this segment. The activities are overseen by RWE Generation, which is\nalso responsible for designing and implementing our hydrogen strategy.\n4\nConsolidated financial\nstatements\n5\nFurther information\nRWE Annual Report 2023\n4. Supply!&!Trading: Proprietary trading of electricity and other energy commodities is at\nthe core of this segment. It is managed by RWE Supply\"&\"Trading. The company oversees\na broad range of activities. It focuses on natural gas and LNG trading and supplies key\naccounts with energy among other things. It also supports the Group’s generation\ncompanies e.\"g. by commercially optimising power plant dispatch, marketing our power\nproduction to third parties and procuring the fuel and emissions allowances required for\nelectricity generation. Our LNG infrastructure development activities along with our gas\nstorage facilities also form part of this segment.\n5. Coal!/!Nuclear: This is where we report on the activities which are not part of our core\nbusiness. First and foremost, these consist of lignite mining and processing as well as\nelectricity generation from this energy source. Added to this are our remaining nuclear\nactivities including RWE’s investments in Dutch nuclear power plant operator EPZ (30\"%)\nand Germany-based URANIT (50\"%), which holds a 33\"% stake in uranium enrichment\nspecialist Urenco. Operating responsibility in this segment is borne by RWE Power. We\nhave assigned the shareholdings in EPZ and URANIT to other segments as of 1 January\n2024. The remaining activities have been renamed ‘phaseout technologies’. From 2024\nonwards, we no longer state adjusted EBITDA for them because we manage them based\non an adjusted cash flow. Further details can be found on page 60.\nCompanies with cross-segment tasks, such as the Group holding company RWE AG, and\naccounting effects of the consolidation of Group activities are stated as part of the core\nbusiness under the ‘other, consolidation’ line item. This also includes our stakes of 25.1\"% in\nGerman transmission system operator Amprion and ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_cash_flow",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "cash flow operations 709.6m.",
      "golden_context": "Page 2:\n\npleased by\nthe resulting financial\nachievements, and\nenthusiastic and\noptimistic for our\nfuture.\nEven as the global\nsupply chain\nremained unsettled\nin 2021, Henry\nSchein delivered for\nour stakeholders.\nAs vaccines and\nother infection-\ncontrol measures\nallowed society to\nbegin resuming\nnormal activities, we\nrecorded net sales in 2021 of $12.4\nbillion, up 22.6% compared with\n2020. GAAP diluted EPS for 2021\nincreased 58.4%, or an increase\nof 52.2%* on a non-GAAP basis,\nlargely reflecting a rebound in patient\ntraffic from the early days of the\npandemic and elevated demand for\nour products and services, including\npersonal protective equipment (PPE)\nand COVID-related products. We\ndelivered full-year operating cash flow\nfrom continuing operations of $709.6\nmillion versus $593.5 million in 2020,\nand we invested $570.6 million in\nacquisitions and $401.2 million in\nstock repurchases. Our strategy\nof supporting organic growth with\nacquisitions remained a key element\nof our success, with acquisitions\nrepresenting 4.2% of 2021’s total\nrevenue increase.\nIn 2021, Henry Schein continued\nto increase our exposure to\nfaster-growing and higher-margin\nproducts and services through\norganic growth and acquisitions.\nOur portfolio of complementary\nsoftware and specialty products, as\nwell as services offerings, represent\nan ever-increasing percentage of\nHenry Schein’s operating margin and\ntotal operating income, generating\nfull-year revenue of $928.6 million,\na 27.2% increase in local currencies.\nThis offering includes\nwhat we refer to\nas Dental Specialty\nProducts, which\nencompasses oral\nsurgery, implant and\nbone regeneration\nproducts as well\nas endodontic and\northodontic products,\nplus our Technology\n& Value-Added\nServices, including\nHenry Schein\nOne, a provider of\nintegrated software\nand services to the\ndental profession. In 2021, growth\nwas strong in each of our three\nDental Specialty Product categories.\nOur BOLD+1 Strategy Positions\nUs for the Future\nOur optimism for the future stems\nin large part from the many actions\nour Company took in 2021 to further\nposition Henry Schein for growth\nand profitability. Two of these actions\nare especially meaningful – the\ndevelopment of our 2022–2024\nBOLD+1 Strategic Plan, a key goal of\nwhich is to expand our faster-growing,\nhigher-margin software and specialty\nproducts, and services offerings,\nwhile investing for growth in our\ncore distribution businesses, and the\nimplementation of a new leadership\nstructure for our distribution\nbusinesses to support the plan.\nIn 2021, we established the North\nAmerica Distribution Group and the\nInternational Distribution Group,\nrepresenting an evolution of our\n“One Distribution” strategy to more\ntightly integrate the management of\nour Dental and Medical distribution\nbusinesses. The new structure is\ndesigned to better leverage functions,\ntalent, processes, and systems\nacross Henry Schein’s distribution\nbusinesses to enhance our customer\nexperience and maximize efficiency\nand performance, thereby driving\ngrowth in sales and related operating\nincome in absolute terms.\nOur operating model provides the\nbasis for us to leverage a “One\nSchein” offering to customers, who\nincreasingly rely upon Henry Schein’s\ncomprehensive network of innovative\nsolutions and services, along with our\ndistribution capabilities, to provide\nan exceptional experience that helps\nmake their practices more successful\nand improve patient outcomes.\nTogether, we make the world\nhealthier.\nIn short, our 2022–2024 BOLD+1\nStrategic Plan positions our Company\nto BUILD (“B”) complementary\nsoftware, specialty, and services\nbusinesses for high growth;\nOPERATIONALIZE (“O”) One\nDistribution to deliver exceptional\ncustomer experience, increased\nefficiency, and growth; LEVERAGE\n(“L”) One Schein to broaden and\ndeepen relationships with our\ncustomers; and DRIVE (“D”) digital\ntransformation for our customers and\nfor Henry Schein.\n+1 = Pursuing Profits and Purpose\nOur BOLD+1 strategy is driven by\nour long-standing belief in the\nintersection of profits and purpose.\nWe carefully balance the goals of\nour five constituencies (the “+1”) –\nTeam Schein, customers, suppliers,\ninvestors, and society – through\nHenry Schein’s management\nphilosophy, the “Mosaic of Success.”\nBy giving back to society in concert\nwith our team, custo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_company_type",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 25, 2021\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________ to ____________\nCommission file number 0-27078\nHENRY SCHEIN, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 11-3136595\n(State or other jurisdiction of (I.R.S. Employer Identification No.)\nincorporation or organization)\n135 Duryea Road\nMelville, New York\n(Address of principal executive offices)\n11747\n(Zip Code)\n(631) 843-5500\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Common Stock, par value $.01 per share HSIC Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nName of each exchange on which registered\nThe Nasdaq Global Select Market\nYES: ☒ NO: ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYES: ☐ NO: ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days.\nYES: ☒ NO: ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYES: ☒ NO: ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer: ☒ Accelerated filer: ☐ Non-accelerated filer: ☐ Smaller reporting company: ☐ Emerging\ngrowth company: ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared\nor issued its audit report. YES: ☒ NO: ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\nYES: ☐ NO: ☒\nThe aggregate market value of the registrant’s voting stock held by non-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_key_financials",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net sales 12.4bn, 22.6% increase, GAAP diluted EPS for 2021 increased 58.4%, increase of 52.2% on non-GAAP basis, cash flow operations 709.6m.",
      "golden_context": "Page 2:\n\npleased by\nthe resulting financial\nachievements, and\nenthusiastic and\noptimistic for our\nfuture.\nEven as the global\nsupply chain\nremained unsettled\nin 2021, Henry\nSchein delivered for\nour stakeholders.\nAs vaccines and\nother infection-\ncontrol measures\nallowed society to\nbegin resuming\nnormal activities, we\nrecorded net sales in 2021 of $12.4\nbillion, up 22.6% compared with\n2020. GAAP diluted EPS for 2021\nincreased 58.4%, or an increase\nof 52.2%* on a non-GAAP basis,\nlargely reflecting a rebound in patient\ntraffic from the early days of the\npandemic and elevated demand for\nour products and services, including\npersonal protective equipment (PPE)\nand COVID-related products. We\ndelivered full-year operating cash flow\nfrom continuing operations of $709.6\nmillion versus $593.5 million in 2020,\nand we invested $570.6 million in\nacquisitions and $401.2 million in\nstock repurchases. Our strategy\nof supporting organic growth with\nacquisitions remained a key element\nof our success, with acquisitions\nrepresenting 4.2% of 2021’s total\nrevenue increase.\nIn 2021, Henry Schein continued\nto increase our exposure to\nfaster-growing and higher-margin\nproducts and services through\norganic growth and acquisitions.\nOur portfolio of complementary\nsoftware and specialty products, as\nwell as services offerings, represent\nan ever-increasing percentage of\nHenry Schein’s operating margin and\ntotal operating income, generating\nfull-year revenue of $928.6 million,\na 27.2% increase in local currencies.\nThis offering includes\nwhat we refer to\nas Dental Specialty\nProducts, which\nencompasses oral\nsurgery, implant and\nbone regeneration\nproducts as well\nas endodontic and\northodontic products,\nplus our Technology\n& Value-Added\nServices, including\nHenry Schein\nOne, a provider of\nintegrated software\nand services to the\ndental profession. In 2021, growth\nwas strong in each of our three\nDental Specialty Product categories.\nOur BOLD+1 Strategy Positions\nUs for the Future\nOur optimism for the future stems\nin large part from the many actions\nour Company took in 2021 to further\nposition Henry Schein for growth\nand profitability. Two of these actions\nare especially meaningful – the\ndevelopment of our 2022–2024\nBOLD+1 Strategic Plan, a key goal of\nwhich is to expand our faster-growing,\nhigher-margin software and specialty\nproducts, and services offerings,\nwhile investing for growth in our\ncore distribution businesses, and the\nimplementation of a new leadership\nstructure for our distribution\nbusinesses to support the plan.\nIn 2021, we established the North\nAmerica Distribution Group and the\nInternational Distribution Group,\nrepresenting an evolution of our\n“One Distribution” strategy to more\ntightly integrate the management of\nour Dental and Medical distribution\nbusinesses. The new structure is\ndesigned to better leverage functions,\ntalent, processes, and systems\nacross Henry Schein’s distribution\nbusinesses to enhance our customer\nexperience and maximize efficiency\nand performance, thereby driving\ngrowth in sales and related operating\nincome in absolute terms.\nOur operating model provides the\nbasis for us to leverage a “One\nSchein” offering to customers, who\nincreasingly rely upon Henry Schein’s\ncomprehensive network of innovative\nsolutions and services, along with our\ndistribution capabilities, to provide\nan exceptional experience that helps\nmake their practices more successful\nand improve patient outcomes.\nTogether, we make the world\nhealthier.\nIn short, our 2022–2024 BOLD+1\nStrategic Plan positions our Company\nto BUILD (“B”) complementary\nsoftware, specialty, and services\nbusinesses for high growth;\nOPERATIONALIZE (“O”) One\nDistribution to deliver exceptional\ncustomer experience, increased\nefficiency, and growth; LEVERAGE\n(“L”) One Schein to broaden and\ndeepen relationships with our\ncustomers; and DRIVE (“D”) digital\ntransformation for our customers and\nfor Henry Schein.\n+1 = Pursuing Profits and Purpose\nOur BOLD+1 strategy is driven by\nour long-standing belief in the\nintersection of profits and purpose.\nWe carefully balance the goals of\nour five constituencies (the “+1”) –\nTeam Schein, customers, suppliers,\ninvestors, and society – through\nHenry Schein’s management\nphilosophy, the “Mosaic of Success.”\nBy giving back to society in concert\nwith our team, custo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_revenue",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "12.4bn",
      "golden_context": "Page 2:\n\npleased by\nthe resulting financial\nachievements, and\nenthusiastic and\noptimistic for our\nfuture.\nEven as the global\nsupply chain\nremained unsettled\nin 2021, Henry\nSchein delivered for\nour stakeholders.\nAs vaccines and\nother infection-\ncontrol measures\nallowed society to\nbegin resuming\nnormal activities, we\nrecorded net sales in 2021 of $12.4\nbillion, up 22.6% compared with\n2020. GAAP diluted EPS for 2021\nincreased 58.4%, or an increase\nof 52.2%* on a non-GAAP basis,\nlargely reflecting a rebound in patient\ntraffic from the early days of the\npandemic and elevated demand for\nour products and services, including\npersonal protective equipment (PPE)\nand COVID-related products. We\ndelivered full-year operating cash flow\nfrom continuing operations of $709.6\nmillion versus $593.5 million in 2020,\nand we invested $570.6 million in\nacquisitions and $401.2 million in\nstock repurchases. Our strategy\nof supporting organic growth with\nacquisitions remained a key element\nof our success, with acquisitions\nrepresenting 4.2% of 2021’s total\nrevenue increase.\nIn 2021, Henry Schein continued\nto increase our exposure to\nfaster-growing and higher-margin\nproducts and services through\norganic growth and acquisitions.\nOur portfolio of complementary\nsoftware and specialty products, as\nwell as services offerings, represent\nan ever-increasing percentage of\nHenry Schein’s operating margin and\ntotal operating income, generating\nfull-year revenue of $928.6 million,\na 27.2% increase in local currencies.\nThis offering includes\nwhat we refer to\nas Dental Specialty\nProducts, which\nencompasses oral\nsurgery, implant and\nbone regeneration\nproducts as well\nas endodontic and\northodontic products,\nplus our Technology\n& Value-Added\nServices, including\nHenry Schein\nOne, a provider of\nintegrated software\nand services to the\ndental profession. In 2021, growth\nwas strong in each of our three\nDental Specialty Product categories.\nOur BOLD+1 Strategy Positions\nUs for the Future\nOur optimism for the future stems\nin large part from the many actions\nour Company took in 2021 to further\nposition Henry Schein for growth\nand profitability. Two of these actions\nare especially meaningful – the\ndevelopment of our 2022–2024\nBOLD+1 Strategic Plan, a key goal of\nwhich is to expand our faster-growing,\nhigher-margin software and specialty\nproducts, and services offerings,\nwhile investing for growth in our\ncore distribution businesses, and the\nimplementation of a new leadership\nstructure for our distribution\nbusinesses to support the plan.\nIn 2021, we established the North\nAmerica Distribution Group and the\nInternational Distribution Group,\nrepresenting an evolution of our\n“One Distribution” strategy to more\ntightly integrate the management of\nour Dental and Medical distribution\nbusinesses. The new structure is\ndesigned to better leverage functions,\ntalent, processes, and systems\nacross Henry Schein’s distribution\nbusinesses to enhance our customer\nexperience and maximize efficiency\nand performance, thereby driving\ngrowth in sales and related operating\nincome in absolute terms.\nOur operating model provides the\nbasis for us to leverage a “One\nSchein” offering to customers, who\nincreasingly rely upon Henry Schein’s\ncomprehensive network of innovative\nsolutions and services, along with our\ndistribution capabilities, to provide\nan exceptional experience that helps\nmake their practices more successful\nand improve patient outcomes.\nTogether, we make the world\nhealthier.\nIn short, our 2022–2024 BOLD+1\nStrategic Plan positions our Company\nto BUILD (“B”) complementary\nsoftware, specialty, and services\nbusinesses for high growth;\nOPERATIONALIZE (“O”) One\nDistribution to deliver exceptional\ncustomer experience, increased\nefficiency, and growth; LEVERAGE\n(“L”) One Schein to broaden and\ndeepen relationships with our\ncustomers; and DRIVE (“D”) digital\ntransformation for our customers and\nfor Henry Schein.\n+1 = Pursuing Profits and Purpose\nOur BOLD+1 strategy is driven by\nour long-standing belief in the\nintersection of profits and purpose.\nWe carefully balance the goals of\nour five constituencies (the “+1”) –\nTeam Schein, customers, suppliers,\ninvestors, and society – through\nHenry Schein’s management\nphilosophy, the “Mosaic of Success.”\nBy giving back to society in concert\nwith our team, custo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_revenue_growth",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales up 22.6%",
      "golden_context": "Page 2:\n\npleased by\nthe resulting financial\nachievements, and\nenthusiastic and\noptimistic for our\nfuture.\nEven as the global\nsupply chain\nremained unsettled\nin 2021, Henry\nSchein delivered for\nour stakeholders.\nAs vaccines and\nother infection-\ncontrol measures\nallowed society to\nbegin resuming\nnormal activities, we\nrecorded net sales in 2021 of $12.4\nbillion, up 22.6% compared with\n2020. GAAP diluted EPS for 2021\nincreased 58.4%, or an increase\nof 52.2%* on a non-GAAP basis,\nlargely reflecting a rebound in patient\ntraffic from the early days of the\npandemic and elevated demand for\nour products and services, including\npersonal protective equipment (PPE)\nand COVID-related products. We\ndelivered full-year operating cash flow\nfrom continuing operations of $709.6\nmillion versus $593.5 million in 2020,\nand we invested $570.6 million in\nacquisitions and $401.2 million in\nstock repurchases. Our strategy\nof supporting organic growth with\nacquisitions remained a key element\nof our success, with acquisitions\nrepresenting 4.2% of 2021’s total\nrevenue increase.\nIn 2021, Henry Schein continued\nto increase our exposure to\nfaster-growing and higher-margin\nproducts and services through\norganic growth and acquisitions.\nOur portfolio of complementary\nsoftware and specialty products, as\nwell as services offerings, represent\nan ever-increasing percentage of\nHenry Schein’s operating margin and\ntotal operating income, generating\nfull-year revenue of $928.6 million,\na 27.2% increase in local currencies.\nThis offering includes\nwhat we refer to\nas Dental Specialty\nProducts, which\nencompasses oral\nsurgery, implant and\nbone regeneration\nproducts as well\nas endodontic and\northodontic products,\nplus our Technology\n& Value-Added\nServices, including\nHenry Schein\nOne, a provider of\nintegrated software\nand services to the\ndental profession. In 2021, growth\nwas strong in each of our three\nDental Specialty Product categories.\nOur BOLD+1 Strategy Positions\nUs for the Future\nOur optimism for the future stems\nin large part from the many actions\nour Company took in 2021 to further\nposition Henry Schein for growth\nand profitability. Two of these actions\nare especially meaningful – the\ndevelopment of our 2022–2024\nBOLD+1 Strategic Plan, a key goal of\nwhich is to expand our faster-growing,\nhigher-margin software and specialty\nproducts, and services offerings,\nwhile investing for growth in our\ncore distribution businesses, and the\nimplementation of a new leadership\nstructure for our distribution\nbusinesses to support the plan.\nIn 2021, we established the North\nAmerica Distribution Group and the\nInternational Distribution Group,\nrepresenting an evolution of our\n“One Distribution” strategy to more\ntightly integrate the management of\nour Dental and Medical distribution\nbusinesses. The new structure is\ndesigned to better leverage functions,\ntalent, processes, and systems\nacross Henry Schein’s distribution\nbusinesses to enhance our customer\nexperience and maximize efficiency\nand performance, thereby driving\ngrowth in sales and related operating\nincome in absolute terms.\nOur operating model provides the\nbasis for us to leverage a “One\nSchein” offering to customers, who\nincreasingly rely upon Henry Schein’s\ncomprehensive network of innovative\nsolutions and services, along with our\ndistribution capabilities, to provide\nan exceptional experience that helps\nmake their practices more successful\nand improve patient outcomes.\nTogether, we make the world\nhealthier.\nIn short, our 2022–2024 BOLD+1\nStrategic Plan positions our Company\nto BUILD (“B”) complementary\nsoftware, specialty, and services\nbusinesses for high growth;\nOPERATIONALIZE (“O”) One\nDistribution to deliver exceptional\ncustomer experience, increased\nefficiency, and growth; LEVERAGE\n(“L”) One Schein to broaden and\ndeepen relationships with our\ncustomers; and DRIVE (“D”) digital\ntransformation for our customers and\nfor Henry Schein.\n+1 = Pursuing Profits and Purpose\nOur BOLD+1 strategy is driven by\nour long-standing belief in the\nintersection of profits and purpose.\nWe carefully balance the goals of\nour five constituencies (the “+1”) –\nTeam Schein, customers, suppliers,\ninvestors, and society – through\nHenry Schein’s management\nphilosophy, the “Mosaic of Success.”\nBy giving back to society in concert\nwith our team, custo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000120_segments",
      "report_id": "ID_000120",
      "company_name": "Henry Schein",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Health care distribution and technology and value-added services.",
      "golden_context": "Page 8:\n\nWe conduct our business through two reportable segments: (i) health care distribution and (ii) technology and\nvalue-added services. These segments offer different products and services to the same customer base. Our dental\nbusinesses serve office-based dental practitioners, dental laboratories, schools, government and other\ninstitutions. Our medical businesses serve physician offices, urgent care centers, ambulatory care sites, emergency\nmedical technicians, dialysis centers, home health, federal and state governments and large enterprises, such as\ngroup practices and integrated delivery networks, among other providers across a wide range of specialties.\nThe health care distribution reportable segment, combining our global dental and medical businesses, distributes\nconsumable products, dental specialty products, small equipment, laboratory products, large equipment, equipment\nrepair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control\nproducts and vitamins. While our primary go-to-market strategy is in our capacity as a distributor, we also market\nand sell under our own private label portfolio of cost-effective, high-quality consumable merchandise products, and\nmanufacture certain dental specialty products in the areas of implants, orthodontics and endodontics.\nThe technology and value-added services reportable segment provides software, technology and other value-added\nservices to health care practitioners. Henry Schein One, the largest contributor of sales to this category, offers\ndental practice management solutions for dental and medical practitioners. In addition, we offer dentists and\nphysicians a broad suite of electronic health records, integrated revenue cycle management, patient communication\nservices including electronic marketing and web-site design, analytics and patient demand generation. Finally, our\nvalue-added practice solutions include practice consultancy, education, and the facilitation of financial service\nofferings (on a non-recourse basis) to help dentists and physicians operate and expand their business operations.\nWe believe our hands-on consultative approach to provide solutions to support practice decision-making is a key\ndifferentiator for our business.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_cash_flow",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 602m",
      "golden_context": "Page 3:\n\ntively execute on our strategy and achieved our\nfinancial goals despite unanticipated macroeconomic and\nforeign exchange headwinds. This is not only a testament\nto our plan but also to our ability to execute on the strategy.\nWe recorded net sales in 2022 of $12.6 billion, up from\n$12.4 billion in 2021, despite sales declines in personal\nprotective equipment (PPE), reflecting lower prices for\ngloves and lower demand for COVID-19 test kits. Excluding\nPPE and COVID-19 test kits, our internal sales in local\ncurrencies grew 5%. Non-GAAP diluted EPS for 2022\nincreased $0.33, or an increase of 6.5%*. Henry Schein\ndelivered full-year operating cash flow from continuing\noperations of $602 million versus $710 million in 2021,\nof which we invested $158 million in acquisitions and\n$485 million in stock repurchases.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_company_type",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 10:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________ to ____________\nCommission file number 0-27078\nHENRY SCHEIN, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 11-3136595\n(State or other jurisdiction of (I.R.S. Employer Identification No.)\nincorporation or organization)\n135 Duryea Road\nMelville, New York\n(Address of principal executive offices)\n11747\n(Zip Code)\n(631) 843-5500\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Common Stock, par value $.01 per share HSIC Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nName of each exchange on which registered\nThe Nasdaq Global Select Market\nYES: ☒ NO: ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYES: ☐ NO: ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days.\nYES: ☒ NO: ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYES: ☒ NO: ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer: ☒ Accelerated filer: ☐ Non-accelerated filer: ☐ Smaller reporting company: ☐\nEmerging growth company: ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared\nor issued its audit report. YES: ☒ NO: ☐\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the\nfiling reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received\nby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\nYES: ☐ NO: ☒\nThe aggregate market value of the registrant’s voting stock held by non-affiliates of the registrant, computed by reference to the closing sales price as\nquoted on the Nasdaq Global Select Market on June 25, 2022, was approximately $10,463,590,000.\nAs of February 7, 2023, there were 131,283,515 shares of registrant’s Common Stock, par value $.01 per share, outstanding.\nDocuments Incorporated by Reference:\nPortions of the Registrant’s definitive proxy statement to be filed pursuant",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_key_financials",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "12.6bn net sales, non-GAAP diluted diluted EPS for 2022 increased 0.33, or 6.5%. Operating cash flow 602m",
      "golden_context": "Page 3:\n\ntively execute on our strategy and achieved our\nfinancial goals despite unanticipated macroeconomic and\nforeign exchange headwinds. This is not only a testament\nto our plan but also to our ability to execute on the strategy.\nWe recorded net sales in 2022 of $12.6 billion, up from\n$12.4 billion in 2021, despite sales declines in personal\nprotective equipment (PPE), reflecting lower prices for\ngloves and lower demand for COVID-19 test kits. Excluding\nPPE and COVID-19 test kits, our internal sales in local\ncurrencies grew 5%. Non-GAAP diluted EPS for 2022\nincreased $0.33, or an increase of 6.5%*. Henry Schein\ndelivered full-year operating cash flow from continuing\noperations of $602 million versus $710 million in 2021,\nof which we invested $158 million in acquisitions and\n$485 million in stock repurchases.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_revenue",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "12.6bn net sales",
      "golden_context": "Page 3:\n\ntively execute on our strategy and achieved our\nfinancial goals despite unanticipated macroeconomic and\nforeign exchange headwinds. This is not only a testament\nto our plan but also to our ability to execute on the strategy.\nWe recorded net sales in 2022 of $12.6 billion, up from\n$12.4 billion in 2021, despite sales declines in personal\nprotective equipment (PPE), reflecting lower prices for\ngloves and lower demand for COVID-19 test kits. Excluding\nPPE and COVID-19 test kits, our internal sales in local\ncurrencies grew 5%. Non-GAAP diluted EPS for 2022\nincreased $0.33, or an increase of 6.5%*. Henry Schein\ndelivered full-year operating cash flow from continuing\noperations of $602 million versus $710 million in 2021,\nof which we invested $158 million in acquisitions and\n$485 million in stock repurchases.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_revenue_growth",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "12.6bn net sales, up from 12.4bn",
      "golden_context": "Page 3:\n\ntively execute on our strategy and achieved our\nfinancial goals despite unanticipated macroeconomic and\nforeign exchange headwinds. This is not only a testament\nto our plan but also to our ability to execute on the strategy.\nWe recorded net sales in 2022 of $12.6 billion, up from\n$12.4 billion in 2021, despite sales declines in personal\nprotective equipment (PPE), reflecting lower prices for\ngloves and lower demand for COVID-19 test kits. Excluding\nPPE and COVID-19 test kits, our internal sales in local\ncurrencies grew 5%. Non-GAAP diluted EPS for 2022\nincreased $0.33, or an increase of 6.5%*. Henry Schein\ndelivered full-year operating cash flow from continuing\noperations of $602 million versus $710 million in 2021,\nof which we invested $158 million in acquisitions and\n$485 million in stock repurchases.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000121_segments",
      "report_id": "ID_000121",
      "company_name": "Henry Schein",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Health care distribution and technology and value-added services.",
      "golden_context": "Page 12:\n\nWe offer a comprehensive selection of more than 300,000 branded products and Henry Schein corporate brand\nproducts through our distribution centers. Our infrastructure, including over 3.8 million square feet of space in 29\nstrategically located distribution and 19 manufacturing facilities around the world, enables us to historically provide\nrapid and accurate order fulfillment, better serve our customers and increase our operating efficiency. This\ninfrastructure, together with broad product and service offerings at competitive prices, and a strong commitment to\ncustomer service, enables us to be a single source of supply for our customers’ needs.\nWe conduct our business through two reportable segments: (i) health care distribution and (ii) technology and\nvalue-added services. These segments offer different products and services to the same customer base. Our dental\nbusinesses serve office-based dental practitioners, dental laboratories, schools, government and other\ninstitutions. Our medical businesses serve physician offices, urgent care centers, ambulatory care sites, emergency\nmedical technicians, dialysis centers, home health, federal and state governments and large enterprises, such as\ngroup practices and integrated delivery networks, among other providers across a wide range of specialties.\nThe health care distribution reportable segment, combining our global dental and medical businesses, distributes\nconsumable products, small equipment, laboratory products, large equipment, equipment repair services, branded\nand generic pharmaceuticals, vaccines, surgical products, dental specialty products (including implant, orthodontic\nand endodontic products), diagnostic tests, infection-control products, personal protective equipment products\n(“PPE”) and vitamins. While our primary go-to-market strategy is in our capacity as a distributor, we also market\nand sell under our own corporate brand portfolio of cost-effective, high-quality consumable merchandise products,\nand manufacture certain dental specialty products in the areas of oral surgery, implants, orthodontics and\nendodontics.\nThe technology and value-added services reportable segment provides software, technology and other value-added\nservices to health care practitioners. Henry Schein One, the largest contributor of sales to this category, offers\ndental practice management solutions for dental and medical practitioners. In addition, we offer dentists and\nphysicians a broad suite of electronic health records, patient communication services including electronic marketing\nand web-site design, analytics and patient demand generation. Finally, our value-added practice solutions include\npractice consultancy, education, integrated revenue cycle management and the facilitation of financial service\nofferings (on a non-recourse basis) to help dentists and physicians operate and expand their business operations.\nWe believe our hands-on consultative approach to provide solutions to support practice decision-making is a key\ndifferentiator for our business.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_cash_flow",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "500m cash flow from continuing operations",
      "golden_context": "Page 3:\n\ny businesses and launched\na number of digital clinical workflow\nsolutions, including software\nembedded with artificial intelligence;\nand moved closer to our goal of\ngenerating 40 percent of operating\nincome from sales of high-growth,\nhigh-margin products and services.\nOur 2023 financial results reflect\nthe challenges of the cybersecurity\nincident in our distribution businesses,\nwhich reduced fourth-quarter revenue by\napproximately $350–$400 million. Total net sales\nfor 2023 were $12.3 billion, a decrease of 2.4 percent\ncompared with 2022, which reflected strong growth in our\nTechnology and Value-Added Services businesses, and in\nglobal sales of implants, biomaterials and endodontics,\noffset by reduced revenues from personal protective\nequipment (PPE), Covid test kits, and the impact of the\ncybersecurity incident.\nGAAP net income for 2023 was $416 million, or $3.16 per\ndiluted share, compared with $538 million, or $3.91 per\ndiluted share, for 2022. Non-GAAP net income for 2023\nwas $593 million, or $4.50 per diluted share, compared\nwith $741 million, or $5.38 per diluted share, for 2022.*\nBoth our GAAP and non-GAAP net income included an\nestimated $0.70 to $0.75 per diluted share impact from the\ncybersecurity incident, and higher-than-usual acquisition-\nrelated expenses. Henry Schein delivered full-year operating\ncash flow from continuing operations of $500 million versus\n$602 million in 2022, and we invested $955 million in\nacquisitions and $250 million in stock repurchases.\nPrior to the cybersecurity incident, our businesses were\ndoing well for the first three quarters of 2023. We were\npleased that our distribution businesses recovered well\nin the second half of the fourth quarter, and we have\nevery expectation that we will resume our growth\ntrajectory in 2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_company_type",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nractices, laboratories, physician practices, and ambulatory surgery centers, as well as government,\ninstitutional health care clinics and other alternate care clinics.\nWe are headquartered in Melville, New York and employ more than 25,000 people. Approximately 55% of our\nworkforce is based in the United States and approximately 45% is based outside of the United States. We have\noperations or affiliates in 33 countries and territories. Our broad global footprint has evolved over time through our\norganic success as well as through contribution from strategic acquisitions.\nWe stock a comprehensive selection of more than 300,000 branded products and Henry Schein corporate brand\nproducts through our main distribution centers. Our infrastructure, including over 5.3 million square feet of space\nin 36 strategically located distribution and 22 manufacturing facilities around the world, enables us to historically\nprovide rapid and accurate order fulfillment, better serve our customers and increase our operating efficiency. This\ninfrastructure, together with broad product and service offerings at competitive prices, and a strong commitment to\ncustomer service, enables us to be a single source of supply for our customers’ needs.\nWe conduct our business through two reportable segments: (i) health care distribution and (ii) technology and\nvalue-added services. These segments offer different products and services to the same customer base. Our dental\nbusinesses serve office-based dental practitioners, dental laboratories, schools, government and other\ninstitutions. Our medical businesses serve physician offices, urgent care centers, ambulatory care sites, emergency\nmedical technicians, dialysis centers, home health, federal and state governments and large enterprises, such as\ngroup practices and integrated delivery networks, among other providers across a wide range of specialties.\nThe health care distribution reportable segment, combining our global dental and medical operating segments,\ndistributes consumable products, small equipment, laboratory products, large equipment, equipment repair services,\nbranded and generic pharmaceuticals, vaccines, surgical products, dental specialty products (including implant,\northodontic and endodontic products), diagnostic tests, infection-control products, personal protective equipment\nproducts (“PPE”) and vitamins. While our primary go-to-market strategy is in our capacity as a distributor, we also\nmarket and sell under our own corporate brand portfolio of cost-effective, high-quality consumable merchandise\nproducts, and manufacture certain dental specialty products in the areas of oral surgery, implants, orthodontics and\nendodontics.\nThe technology and value-added services reportable segment provides software, technology and other value-added\nservices to health care practitioners. Henry Schein One, the largest contributor of sales to this category, offers\ndental practice management solutions for dental and medical practitioners. In addition, we offer dentists and\nphysicians a broad suite of electronic health records, patient communication services including electronic marketing\nand website design, analytics and patient demand generation. Our value-added practice solutions include practice\nconsultancy, education, integrated revenue cycle management and the facilitation of financial service offerings (on\na non-recourse basis) to help dentists and physicians operate and expand their business operations, e-services,\npractice technology, network and hardware services, as well as consulting, and continuing education services for\npractitioners. We believe our hands-on consultative approach to provide solutions to support practice decision-\nmaking is a key differentiator for our business.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_key_financials",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Total net sales 12.3bn",
      "golden_context": "Page 3:\n\ny businesses and launched\na number of digital clinical workflow\nsolutions, including software\nembedded with artificial intelligence;\nand moved closer to our goal of\ngenerating 40 percent of operating\nincome from sales of high-growth,\nhigh-margin products and services.\nOur 2023 financial results reflect\nthe challenges of the cybersecurity\nincident in our distribution businesses,\nwhich reduced fourth-quarter revenue by\napproximately $350–$400 million. Total net sales\nfor 2023 were $12.3 billion, a decrease of 2.4 percent\ncompared with 2022, which reflected strong growth in our\nTechnology and Value-Added Services businesses, and in\nglobal sales of implants, biomaterials and endodontics,\noffset by reduced revenues from personal protective\nequipment (PPE), Covid test kits, and the impact of the\ncybersecurity incident.\nGAAP net income for 2023 was $416 million, or $3.16 per\ndiluted share, compared with $538 million, or $3.91 per\ndiluted share, for 2022. Non-GAAP net income for 2023\nwas $593 million, or $4.50 per diluted share, compared\nwith $741 million, or $5.38 per diluted share, for 2022.*\nBoth our GAAP and non-GAAP net income included an\nestimated $0.70 to $0.75 per diluted share impact from the\ncybersecurity incident, and higher-than-usual acquisition-\nrelated expenses. Henry Schein delivered full-year operating\ncash flow from continuing operations of $500 million versus\n$602 million in 2022, and we invested $955 million in\nacquisitions and $250 million in stock repurchases.\nPrior to the cybersecurity incident, our businesses were\ndoing well for the first three quarters of 2023. We were\npleased that our distribution businesses recovered well\nin the second half of the fourth quarter, and we have\nevery expectation that we will resume our growth\ntrajectory in 2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_revenue",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "12.3bn",
      "golden_context": "Page 3:\n\ny businesses and launched\na number of digital clinical workflow\nsolutions, including software\nembedded with artificial intelligence;\nand moved closer to our goal of\ngenerating 40 percent of operating\nincome from sales of high-growth,\nhigh-margin products and services.\nOur 2023 financial results reflect\nthe challenges of the cybersecurity\nincident in our distribution businesses,\nwhich reduced fourth-quarter revenue by\napproximately $350–$400 million. Total net sales\nfor 2023 were $12.3 billion, a decrease of 2.4 percent\ncompared with 2022, which reflected strong growth in our\nTechnology and Value-Added Services businesses, and in\nglobal sales of implants, biomaterials and endodontics,\noffset by reduced revenues from personal protective\nequipment (PPE), Covid test kits, and the impact of the\ncybersecurity incident.\nGAAP net income for 2023 was $416 million, or $3.16 per\ndiluted share, compared with $538 million, or $3.91 per\ndiluted share, for 2022. Non-GAAP net income for 2023\nwas $593 million, or $4.50 per diluted share, compared\nwith $741 million, or $5.38 per diluted share, for 2022.*\nBoth our GAAP and non-GAAP net income included an\nestimated $0.70 to $0.75 per diluted share impact from the\ncybersecurity incident, and higher-than-usual acquisition-\nrelated expenses. Henry Schein delivered full-year operating\ncash flow from continuing operations of $500 million versus\n$602 million in 2022, and we invested $955 million in\nacquisitions and $250 million in stock repurchases.\nPrior to the cybersecurity incident, our businesses were\ndoing well for the first three quarters of 2023. We were\npleased that our distribution businesses recovered well\nin the second half of the fourth quarter, and we have\nevery expectation that we will resume our growth\ntrajectory in 2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_revenue_growth",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Decrease of 2.4%",
      "golden_context": "Page 3:\n\ny businesses and launched\na number of digital clinical workflow\nsolutions, including software\nembedded with artificial intelligence;\nand moved closer to our goal of\ngenerating 40 percent of operating\nincome from sales of high-growth,\nhigh-margin products and services.\nOur 2023 financial results reflect\nthe challenges of the cybersecurity\nincident in our distribution businesses,\nwhich reduced fourth-quarter revenue by\napproximately $350–$400 million. Total net sales\nfor 2023 were $12.3 billion, a decrease of 2.4 percent\ncompared with 2022, which reflected strong growth in our\nTechnology and Value-Added Services businesses, and in\nglobal sales of implants, biomaterials and endodontics,\noffset by reduced revenues from personal protective\nequipment (PPE), Covid test kits, and the impact of the\ncybersecurity incident.\nGAAP net income for 2023 was $416 million, or $3.16 per\ndiluted share, compared with $538 million, or $3.91 per\ndiluted share, for 2022. Non-GAAP net income for 2023\nwas $593 million, or $4.50 per diluted share, compared\nwith $741 million, or $5.38 per diluted share, for 2022.*\nBoth our GAAP and non-GAAP net income included an\nestimated $0.70 to $0.75 per diluted share impact from the\ncybersecurity incident, and higher-than-usual acquisition-\nrelated expenses. Henry Schein delivered full-year operating\ncash flow from continuing operations of $500 million versus\n$602 million in 2022, and we invested $955 million in\nacquisitions and $250 million in stock repurchases.\nPrior to the cybersecurity incident, our businesses were\ndoing well for the first three quarters of 2023. We were\npleased that our distribution businesses recovered well\nin the second half of the fourth quarter, and we have\nevery expectation that we will resume our growth\ntrajectory in 2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000122_segments",
      "report_id": "ID_000122",
      "company_name": "Henry Schein",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Health care distribution and technology and value-added services.",
      "golden_context": "Page 11:\n\nractices, laboratories, physician practices, and ambulatory surgery centers, as well as government,\ninstitutional health care clinics and other alternate care clinics.\nWe are headquartered in Melville, New York and employ more than 25,000 people. Approximately 55% of our\nworkforce is based in the United States and approximately 45% is based outside of the United States. We have\noperations or affiliates in 33 countries and territories. Our broad global footprint has evolved over time through our\norganic success as well as through contribution from strategic acquisitions.\nWe stock a comprehensive selection of more than 300,000 branded products and Henry Schein corporate brand\nproducts through our main distribution centers. Our infrastructure, including over 5.3 million square feet of space\nin 36 strategically located distribution and 22 manufacturing facilities around the world, enables us to historically\nprovide rapid and accurate order fulfillment, better serve our customers and increase our operating efficiency. This\ninfrastructure, together with broad product and service offerings at competitive prices, and a strong commitment to\ncustomer service, enables us to be a single source of supply for our customers’ needs.\nWe conduct our business through two reportable segments: (i) health care distribution and (ii) technology and\nvalue-added services. These segments offer different products and services to the same customer base. Our dental\nbusinesses serve office-based dental practitioners, dental laboratories, schools, government and other\ninstitutions. Our medical businesses serve physician offices, urgent care centers, ambulatory care sites, emergency\nmedical technicians, dialysis centers, home health, federal and state governments and large enterprises, such as\ngroup practices and integrated delivery networks, among other providers across a wide range of specialties.\nThe health care distribution reportable segment, combining our global dental and medical operating segments,\ndistributes consumable products, small equipment, laboratory products, large equipment, equipment repair services,\nbranded and generic pharmaceuticals, vaccines, surgical products, dental specialty products (including implant,\northodontic and endodontic products), diagnostic tests, infection-control products, personal protective equipment\nproducts (“PPE”) and vitamins. While our primary go-to-market strategy is in our capacity as a distributor, we also\nmarket and sell under our own corporate brand portfolio of cost-effective, high-quality consumable merchandise\nproducts, and manufacture certain dental specialty products in the areas of oral surgery, implants, orthodontics and\nendodontics.\nThe technology and value-added services reportable segment provides software, technology and other value-added\nservices to health care practitioners. Henry Schein One, the largest contributor of sales to this category, offers\ndental practice management solutions for dental and medical practitioners. In addition, we offer dentists and\nphysicians a broad suite of electronic health records, patient communication services including electronic marketing\nand website design, analytics and patient demand generation. Our value-added practice solutions include practice\nconsultancy, education, integrated revenue cycle management and the facilitation of financial service offerings (on\na non-recourse basis) to help dentists and physicians operate and expand their business operations, e-services,\npractice technology, network and hardware services, as well as consulting, and continuing education services for\npractitioners. We believe our hands-on consultative approach to provide solutions to support practice decision-\nmaking is a key differentiator for our business.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_cash_flow",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 352028k, investing: -1'219'547k, financing: 309'411k",
      "golden_context": "Page 80:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\nYears Ended December 31,\n2021 2020 2019\nCash flows from operating activities:\nNet income $ 145,449 $ 133,995 161,148\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 32,439 18,103 14,119\nProvision for doubtful accounts 477 425 217\nAsset impairment — — 1,124\nNon-cash interest expense 44,387 18,825 6,081\nFinancing fees on extinguishment of debt — — 2,152\nFees paid for repurchase and exchange of convertible notes due 2023 — — 6,000\nLoss on partial settlement of convertibles notes 56,497 3,037 —\nDeemed repayment of convertible notes attributable to accreted debt discount (15,718) (3,132) —\nGain on settlement of debt securities (6,569) — —\nChange in fair value of debt securities (3,042) — —\nStock-based compensation 114,286 42,503 20,176\nChange in fair value of derivatives — 44,348 —\nDeferred income taxes (31,241) (17,117) (73,375)\nChanges in operating assets and liabilities:\nAccounts receivable (151,160) (34,321) (68,745)\nInventory (29,258) (9,708) (15,789)\nPrepaid expenses and other assets (26,885) (14,636) (14,293)\nAccounts payable, accrued and other liabilities 117,183 35,695 22,200\nWarranty obligations 27,016 8,815 5,804\nDeferred revenues 78,167 (10,498) 72,248\nNet cash provided by operating activities 352,028 216,334 139,067\nCash flows from investing activities:\nPurchases of property and equipment (52,258) (20,558) (14,788)\nPurchase of intangible asset (250) — —\nInvestments in private companies (58,000) (5,010) —\nRedemption of investment in private companies 26,569 — —\nBusiness acquisitions, net of cash acquired (235,652) — —\nPurchases of marketable securities (934,956) — —\nMaturities of marketable securities 35,000 — —\nNet cash used in investing activities (1,219,547) (25,568) (14,788)\nCash flows from financing activities:\nIssuance of convertible notes, net of issuance costs 1,188,439 312,420 127,413\nPurchase of convertible note hedges (286,235) (89,056) (36,313)\nSale of warrants 220,800 71,552 29,818\nFees paid for repurchase and exchange of convertible notes due 2023 — — (6,000)\nPrincipal payments and financing fees on debt (1,694) (2,575) (45,855)\nPartial repurchase of convertible notes (290,247) (40,728) —\nProceeds from exercise of equity awards and employee stock purchase plan 7,484 8,395 4,985\nRepurchase of common stock (500,000) — —\nPayment of withholding taxes related to net share settlement of equity awards (29,136) (68,330) (8,198)\nNet cash provided by financing activities 309,411 191,678 65,850",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_company_type",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-35480\nEnphase Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 20-4645388\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of each class: Common Stock, $0.00001 par value per share 47281 Bayside Parkway\nFremont, CA 94538\n(Address of principal executive offices, including zip code)\n(877) 774-7000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_key_financials",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 1'382'049k, net income per share basic 1.09, diluted 1.02",
      "golden_context": "Page 76:\n\nNPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYears Ended December 31,\n2021 2020 2019\nNet revenues $ 1,382,049 $ 774,425 $ 624,333\nCost of revenues 827,627 428,444 403,088\nGross profit 554,422 345,981 221,245\nOperating expenses:\nResearch and development 105,526 55,921 40,381\nSales and marketing 128,974 52,927 36,728\nGeneral and administrative 104,090 50,694 38,808\nRestructuring charges — — 2,599\nTotal operating expenses 338,590 159,542 118,516\nIncome from operations 215,832 186,439 102,729\nOther income (expense), net\nInterest income 695 2,156 2,513\nInterest expense (45,152) (21,001) (9,691)\nOther (expense) income, net 6,050 (799) (5,437)\nLoss on partial settlement of convertible notes (56,497) (3,037)—\nChange in fair value of derivatives — (44,348) Total other expense, net (94,904) (67,029) (12,615)\nIncome before income taxes 120,928 119,410 90,114\nIncome tax benefit 24,521 14,585 71,034\nNet income $ 145,449 $ 133,995 $ 161,148\nNet income per share:\nBasic $ 1.09 $ 1.07 $ 1.38\nDiluted $ 1.02 $ 0.95 $ 1.23\nShares used in per share calculation:\nBasic 134,025 125,561 116,713\nDiluted 142,878 141,918 131,644\n—\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_revenue",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "net revenues 1'382'049k",
      "golden_context": "Page 76:\n\nNPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYears Ended December 31,\n2021 2020 2019\nNet revenues $ 1,382,049 $ 774,425 $ 624,333\nCost of revenues 827,627 428,444 403,088\nGross profit 554,422 345,981 221,245\nOperating expenses:\nResearch and development 105,526 55,921 40,381\nSales and marketing 128,974 52,927 36,728\nGeneral and administrative 104,090 50,694 38,808\nRestructuring charges — — 2,599\nTotal operating expenses 338,590 159,542 118,516\nIncome from operations 215,832 186,439 102,729\nOther income (expense), net\nInterest income 695 2,156 2,513\nInterest expense (45,152) (21,001) (9,691)\nOther (expense) income, net 6,050 (799) (5,437)\nLoss on partial settlement of convertible notes (56,497) (3,037)—\nChange in fair value of derivatives — (44,348) Total other expense, net (94,904) (67,029) (12,615)\nIncome before income taxes 120,928 119,410 90,114\nIncome tax benefit 24,521 14,585 71,034\nNet income $ 145,449 $ 133,995 $ 161,148\nNet income per share:\nBasic $ 1.09 $ 1.07 $ 1.38\nDiluted $ 1.02 $ 0.95 $ 1.23\nShares used in per share calculation:\nBasic 134,025 125,561 116,713\nDiluted 142,878 141,918 131,644\n—\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_revenue_growth",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "net revenues 1'382'049k, year before: 774'425k",
      "golden_context": "Page 76:\n\nNPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYears Ended December 31,\n2021 2020 2019\nNet revenues $ 1,382,049 $ 774,425 $ 624,333\nCost of revenues 827,627 428,444 403,088\nGross profit 554,422 345,981 221,245\nOperating expenses:\nResearch and development 105,526 55,921 40,381\nSales and marketing 128,974 52,927 36,728\nGeneral and administrative 104,090 50,694 38,808\nRestructuring charges — — 2,599\nTotal operating expenses 338,590 159,542 118,516\nIncome from operations 215,832 186,439 102,729\nOther income (expense), net\nInterest income 695 2,156 2,513\nInterest expense (45,152) (21,001) (9,691)\nOther (expense) income, net 6,050 (799) (5,437)\nLoss on partial settlement of convertible notes (56,497) (3,037)—\nChange in fair value of derivatives — (44,348) Total other expense, net (94,904) (67,029) (12,615)\nIncome before income taxes 120,928 119,410 90,114\nIncome tax benefit 24,521 14,585 71,034\nNet income $ 145,449 $ 133,995 $ 161,148\nNet income per share:\nBasic $ 1.09 $ 1.07 $ 1.38\nDiluted $ 1.02 $ 0.95 $ 1.23\nShares used in per share calculation:\nBasic 134,025 125,561 116,713\nDiluted 142,878 141,918 131,644\n—\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000123_segments",
      "report_id": "ID_000123",
      "company_name": "Enphase Energy",
      "year": 2021,
      "country": "US",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "United States, India, China, Mexico, New Zealand, Other",
      "golden_context": "Page 130:\n\nSEGMENT AND GEOGRAPHIC INFORMATION\nThe Company’s chief operating decision maker is the Chief Executive Officer. The Chief Executive Officer reviews financial information\npresented on a consolidated basis. The Company has one business activity, which entails the design, development, manufacture and sale of\nsolutions for the solar PV industry. There are no segment managers who are held accountable for operations, operating results or plans for levels\nor components below the consolidated unit level. Accordingly, management has determined that the Company has a single operating and\nreportable segment.\nSee Note 3.\n“Revenue Recognition,\n” for the table presenting net revenues (based on the destination of shipments). The following table\npresents long-lived assets by geographic region as of and for the periods presented:\nLong-Lived Assets\nUnited States India China Mexico New Zealand Other December 31,\n2021 2020\n(In thousands)\n$ 37,685 $ 19,870\n17,490 4,371\n12,906 9,948\n8,735 4,808\n4,622 3,837\n729 151\nTotal $ 82,167 $ 42,985",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_cash_flow",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 744'817k, -371'906k, -17'126k, total cash flow 353'928k",
      "golden_context": "Page 57:\n\n outstanding. Refer to Note 12.\n“Debt,\n” in Part II, Item 8 of this Annual Report on Form 10-K for more information on our\noutstanding notes.\nOperating Leases. We have entered into various non-cancelable operating leases primarily for our facilities with original lease periods\nexpiring through the year 2032, with the most significant leases relating to our offices in Petaluma, California and Bengaluru, India. As of\nDecember 31, 2022, we have total operating lease obligations of $29.0 million recorded on our consolidated balance sheet.\nOther Material Cash Requirements. As of December 31, 2022, we have open purchase obligations of $589.3 million related to component\ninventory that our primary contract manufacturers procure on our behalf in accordance with our production forecast as well as other inventory\nrelated purchase commitments. The timing of purchases in future periods could differ materially from estimates presented above due to\nfluctuations in demand requirements related to varying sales levels as well as changes in economic conditions.\nCash Flows. The following table summarizes our cash flows for the periods presented:\nYears Ended December 31,\n2022 2021 2020\n(In thousands)\nNet cash provided by operating activities $ 744,817 $ 352,028 $ 216,334\nNet cash used in investing activities (371,906) (1,219,547) (25,568)\nNet cash provided by (used in) financing activities (17,126) 309,411 191,678\nEffect of exchange rate changes on cash (1,857) (1,955) 826\nNet increase (decrease) in cash and cash equivalents $ 353,928 $ (560,063) $ 383,270",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_company_type",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-35480\nEnphase Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 20-4645388\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of each class: Common Stock, $0.00001 par value per share 47281 Bayside Parkway\nFremont, CA 94538\n(Address of principal executive offices, including zip code)\n(877) 774-7000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) ENPH Securities registered pursuant to Section 12(g) of the Act: None\nName of each exchange on which registered\nNasdaq Global Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_key_financials",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 2'330'853k, net income 397'362k, EPS basic 2.94, diluted 2.7\n",
      "golden_context": "Page 7:\n\nWe design, develop, manufacture and sell home energy solutions that manage energy generation, energy storage and control and\ncommunications on one intelligent platform. We have revolutionized the solar industry by bringing a systems approach to solar technology and by\npioneering a semiconductor-based microinverter that converts energy at the individual solar module level and, combined with our proprietary\nnetworking and software technologies, provides advanced energy monitoring and control. This is vastly different than a string inverter system\nusing string modules, whether with or without an optimizer, which only converts the energy of the entire array of solar modules from a single high\nvoltage electrical unit and lacks intelligence about the energy producing capacity of the solar array.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_revenue",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Net revenues: 2330853k",
      "golden_context": "Page 70:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYears Ended December 31,\n2022 2021 2020\nNet revenues $ 2,330,853 $ 1,382,049 $ 774,425\nCost of revenues 1,356,258 827,627 428,444\nGross profit 974,595 554,422 345,981\nOperating expenses:\nResearch and development 168,846 105,526 55,921\nSales and marketing 215,102 128,974 52,927\nGeneral and administrative 140,002 104,090 50,694\nRestructuring charges 2,384\n—\n—\nTotal operating expenses 526,334 338,590 159,542\nIncome from operations 448,261 215,832 186,439\nOther income (expense), net\nInterest income 13,656 695 2,156\nInterest expense (9,438) (45,152) (21,001)\nOther (expense) income, net (431) 6,050 (799)\nLoss on partial settlement of convertible notes —\n(56,497) (3,037)\nChange in fair value of derivatives —\n—\n(44,348)\nTotal other income (expense), net 3,787 (94,904) (67,029)\nIncome before income taxes 452,048 120,928 119,410\nIncome tax benefit (provision) (54,686) 24,521 14,585\nNet income $ 397,362 $ 145,449 $ 133,995\nNet income per share:\nBasic $ 2.94 $ 1.09 $ 1.07\nDiluted $ 2.77 $ 1.02 $ 0.95\nShares used in per share calculation:\nBasic 135,349 134,025 125,561\nDiluted 144,390 142,878 141,918",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_revenue_growth",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues: 2330853k, previous year 1382049k",
      "golden_context": "Page 70:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYears Ended December 31,\n2022 2021 2020\nNet revenues $ 2,330,853 $ 1,382,049 $ 774,425\nCost of revenues 1,356,258 827,627 428,444\nGross profit 974,595 554,422 345,981\nOperating expenses:\nResearch and development 168,846 105,526 55,921\nSales and marketing 215,102 128,974 52,927\nGeneral and administrative 140,002 104,090 50,694\nRestructuring charges 2,384\n—\n—\nTotal operating expenses 526,334 338,590 159,542\nIncome from operations 448,261 215,832 186,439\nOther income (expense), net\nInterest income 13,656 695 2,156\nInterest expense (9,438) (45,152) (21,001)\nOther (expense) income, net (431) 6,050 (799)\nLoss on partial settlement of convertible notes —\n(56,497) (3,037)\nChange in fair value of derivatives —\n—\n(44,348)\nTotal other income (expense), net 3,787 (94,904) (67,029)\nIncome before income taxes 452,048 120,928 119,410\nIncome tax benefit (provision) (54,686) 24,521 14,585\nNet income $ 397,362 $ 145,449 $ 133,995\nNet income per share:\nBasic $ 2.94 $ 1.09 $ 1.07\nDiluted $ 2.77 $ 1.02 $ 0.95\nShares used in per share calculation:\nBasic 135,349 134,025 125,561\nDiluted 144,390 142,878 141,918",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000124_segments",
      "report_id": "ID_000124",
      "company_name": "Enphase Energy",
      "year": 2022,
      "country": "US",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "US, India, China, Mexico, New Zealand, Romania, Other",
      "golden_context": "Page 123:\n\nSEGMENT AND GEOGRAPHIC INFORMATION\nThe Company’s chief operating decision maker is the Chief Executive Officer. The Chief Executive Officer reviews financial information\npresented on a consolidated basis. The Company has one business activity, which entails the design, development, manufacture and sale of\nsolutions for the solar PV industry. There are no segment managers who are held accountable for operations, operating results or plans for levels\nor components below the consolidated unit level. Accordingly, management has determined that the Company has a single operating and\nreportable segment.\nSee Note 3.\n“Revenue Recognition,\n” for the table presenting net revenues (based on the destination of shipments). The following table\npresents long-lived assets by geographic region as of the periods presented:\nLong-Lived Assets\nDecember 31,\n2022 2021\n(In thousands)\nUnited States $ 54,406 $ 37,685\nIndia 19,950 17,490\nChina 9,228 12,906\nMexico 9,929 8,735\nNew Zealand 6,059 4,622\nRomania 8,355\n—\nOther 3,440 729\nTotal",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_cash_flow",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 696780k, investing: -366355k, financing: -516'774k; total cash flow: -184'496k",
      "golden_context": "Page 73:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\nYears Ended December 31,\n2023 2022 2021\nCash flows from operating activities:\nNet income $ 438,936 $ 397,362 145,449\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 74,708 58,775 30,846\nNet amortization (accretion) of premium (discount) on marketable securities (15,561) (2,632) 1,593\nProvision for doubtful accounts 1,153 119 477\nAsset impairment 10,603 1,200\n—\nNon-cash interest expense 8,380 8,167 44,387\nLoss on partial settlement of convertibles notes —\n—\n56,497\nDeemed repayment of convertible notes attributable to accreted debt discount —\n—\n(15,718)\nGain on settlement of debt securities —\n—\n(6,569)\nNet gain from change in fair value of debt securities (8,078) (735) (3,042)\nStock-based compensation 212,857 216,802 114,286\nDeferred income taxes (43,348) 3,633 (31,241)\nChanges in operating assets and liabilities:\nAccounts receivable (12,478) (107,556) (151,160)\nInventory (63,887) (75,273) (29,258)\nPrepaid expenses and other assets (59,777) (68,423) (26,885)\nAccounts payable, accrued and other liabilities (22,149) 133,416 117,183\nWarranty obligations 57,641 57,773 27,016\nDeferred revenues 117,780 122,189 78,167\nNet cash provided by operating activities 696,780 744,817 352,028\nCash flows from investing activities:\nPurchases of property and equipment (110,401) (46,443) (52,258)\nPurchase of intangible asset —\n—\n(250)\nInvestments in private companies (15,000) (16,000) (58,000)\nRedemption of investment in private companies —\n—\n26,569\nBusiness acquisitions, net of cash acquired —\n(62,162) (235,652)\nPurchases of marketable securities (2,081,431) (907,430) (934,956)\nMaturities and sale of marketable securities 1,840,477 660,129 35,000\nNet cash used in investing activities (366,355) (371,906) (1,219,547)\nCash flows from financing activities:\nIssuance of convertible notes, net of issuance costs —\n—\n1,188,439\nPurchase of convertible note hedges —\n—\n(286,235)\nSale of warrants —\n—\n220,800\nPrincipal payments and financing fees on debt —\n—\n(1,694)\nPartial repurchase of convertible notes —\n—\n(290,247)\nProceeds from exercise of equity awards and employee stock purchase plan 13,870 10,370 7,484\nPayment of withholding taxes related to net share settlement of equity awards (120,646) (27,496) (29,136)\nRepurchase of common stock (409,998) —\n(500,000)\nNet cash provided by (used in) financing activities (516,774) (17,126) 309,411\nEffect of exchange rate changes on cash and cash equivalents 1,853 (1,857) (1,955)\nNet increase (decrease) in cash and cash equivalents (184,496) 353,928 (560,063)\nCash and cash equivalents—Beginning of period 473,244 119,316 679,379\nCash and cash equivalents—End of period $ 288,748 $ 473,244 $ 119,316",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_company_type",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-35480\nEnphase Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_key_financials",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 2'290'786k. Net income per share: Basic 3.22, diluted 3.08",
      "golden_context": "Page 69:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nNet revenues Cost of revenues Years Ended December 31,\n2023 2022 2021\n$ 2,290,786 $ 2,330,853 $ 1,382,049\n1,232,398 1,356,258 827,627\nGross profit 1,058,388 974,595 554,422\nOperating expenses:\nResearch and development 227,336 168,846 105,526\nSales and marketing 231,792 215,102 128,974\nGeneral and administrative 137,835 140,002 104,090\nRestructuring and asset impairment charges 15,684 2,384\n—\nTotal operating expenses 612,647 526,334 338,590\nIncome from operations 445,741 448,261 215,832\nOther income (expense), net\nInterest income 69,728 13,656 695\nInterest expense (8,839) (9,438) (45,152)\nOther income (expense), net 6,509 (431) 6,050\nLoss on partial settlement of convertible notes —\n—\n(56,497)\nTotal other income (expense), net 67,398 3,787 (94,904)\nIncome before income taxes 513,139 452,048 120,928\nIncome tax benefit (provision) (74,203) (54,686) 24,521\nNet income $ 438,936 $ 397,362 $ 145,449\nNet income per share:\nBasic Diluted $ 3.22 $ 2.94 $ 1.09\n$ 3.08 $ 2.77 $ 1.02\nShares used in per share calculation:\nBasic 136,376 135,349 134,025\nDiluted 143,290 144,390 142,878",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_revenue",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Net revenues 2'290'786k",
      "golden_context": "Page 69:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nNet revenues Cost of revenues Years Ended December 31,\n2023 2022 2021\n$ 2,290,786 $ 2,330,853 $ 1,382,049\n1,232,398 1,356,258 827,627\nGross profit 1,058,388 974,595 554,422\nOperating expenses:\nResearch and development 227,336 168,846 105,526\nSales and marketing 231,792 215,102 128,974\nGeneral and administrative 137,835 140,002 104,090\nRestructuring and asset impairment charges 15,684 2,384\n—\nTotal operating expenses 612,647 526,334 338,590\nIncome from operations 445,741 448,261 215,832\nOther income (expense), net\nInterest income 69,728 13,656 695\nInterest expense (8,839) (9,438) (45,152)\nOther income (expense), net 6,509 (431) 6,050\nLoss on partial settlement of convertible notes —\n—\n(56,497)\nTotal other income (expense), net 67,398 3,787 (94,904)\nIncome before income taxes 513,139 452,048 120,928\nIncome tax benefit (provision) (74,203) (54,686) 24,521\nNet income $ 438,936 $ 397,362 $ 145,449\nNet income per share:\nBasic Diluted $ 3.22 $ 2.94 $ 1.09\n$ 3.08 $ 2.77 $ 1.02\nShares used in per share calculation:\nBasic 136,376 135,349 134,025\nDiluted 143,290 144,390 142,878",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_revenue_growth",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 2'290'786k, prior: 2'330'853k",
      "golden_context": "Page 69:\n\nENPHASE ENERGY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nNet revenues Cost of revenues Years Ended December 31,\n2023 2022 2021\n$ 2,290,786 $ 2,330,853 $ 1,382,049\n1,232,398 1,356,258 827,627\nGross profit 1,058,388 974,595 554,422\nOperating expenses:\nResearch and development 227,336 168,846 105,526\nSales and marketing 231,792 215,102 128,974\nGeneral and administrative 137,835 140,002 104,090\nRestructuring and asset impairment charges 15,684 2,384\n—\nTotal operating expenses 612,647 526,334 338,590\nIncome from operations 445,741 448,261 215,832\nOther income (expense), net\nInterest income 69,728 13,656 695\nInterest expense (8,839) (9,438) (45,152)\nOther income (expense), net 6,509 (431) 6,050\nLoss on partial settlement of convertible notes —\n—\n(56,497)\nTotal other income (expense), net 67,398 3,787 (94,904)\nIncome before income taxes 513,139 452,048 120,928\nIncome tax benefit (provision) (74,203) (54,686) 24,521\nNet income $ 438,936 $ 397,362 $ 145,449\nNet income per share:\nBasic Diluted $ 3.22 $ 2.94 $ 1.09\n$ 3.08 $ 2.77 $ 1.02\nShares used in per share calculation:\nBasic 136,376 135,349 134,025\nDiluted 143,290 144,390 142,878",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000125_segments",
      "report_id": "ID_000125",
      "company_name": "Enphase Energy",
      "year": 2023,
      "country": "US",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "US, Netherlands, Other",
      "golden_context": "Page 121:\n\n SEGMENT AND GEOGRAPHIC INFORMATION\nThe Company’s chief operating decision maker is the Chief Executive Officer (the “CEO”). The CEO reviews financial information\npresented on a consolidated basis. The Company has one business activity, which entails the design, development, manufacture and sale of\nsolutions for the solar PV industry. There are no segment managers who are held accountable for operations, operating results or plans for levels\nor components below the consolidated unit level. Accordingly, management has determined that the Company has a single operating and\nreportable segment.\nThe following table presents net revenues by geographic region as of the periods presented:\nNet Revenues\nDecember 31,\n2023 2022 2021\n(In thousands)\nUnited States $ 1,469,108 $ 1,761,846 $ 1,108,801\nNetherlands 351,628 196,165 79,189\nOthers 470,050 372,842 194,059\nTotal $ 2,290,786 $ 2,330,853 $ 1,382,049\nEnphase Energy, Inc. | 2023 Form 10-K | 121",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_cash_flow",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operations: 546.6m",
      "golden_context": "Page 70:\n\nCHARLES RIVER LABORATORIES INTERNATIONAL, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS (continued)\n(in thousands)\nFiscal Year\n2020 2019 2018\nSupplemental cash flow information:\nCash and cash equivalents $ 228,424 $ 238,014 $ 195,442\nRestricted cash included in Other current assets 3,074 431 465\nRestricted cash included in Other assets 1,621 1,601 1,411\nCash, cash equivalents, and restricted cash, end of period $ 233,119 $ 240,046 $ 197,318\nCash paid for income taxes Cash paid for interest $ 60,059 $ 54,060 $ 67,600\n$ 72,461 $ 67,813 $ 47,540\nNon-cash investing and financing activities:\nAdditions to property, plant and equipment, net $ 25,614 $ 21,447 $ 18,212\nAssets acquired under finance leases $ 1,571 $ 4,819 $ 1,473\n\nPage 45:\n\nDuring fiscal year 2020, our cash flows from operations was $546.6 million compared with $480.9 million for fiscal year 2019. The increase was driven by\nhigher net income and certain favorable changes in working capital items, including favorable timing of certain government deferrals of payroll tax\npayments, and compensation related items; partially offset by the timing of vendor and supplier payments and collections of net contract balances from\ncontracts with customers (collectively trade receivables, net; deferred revenue; and customer contract deposits); and certain pension related payments\ncompared to the same period in 2019.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_company_type",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n____________________________________________\nFORM 10-K\n(Mark One)\nOF 1934\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nFOR THE FISCAL YEAR ENDED December 26, 2020\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFOR THE TRANSITION PERIOD FROM TO\nCommission File No. 001-15943\nCHARLES RIVER LABORATORIES INTERNATIONAL, INC.\n(Exact Name of Registrant as Specified in Its Charter)\nDelaware 06-1397316\n(State or Other Jurisdiction of\nIncorporation or Organization)\n251 Ballardvale Street Wilmington Massachusetts 01887\n(Address of Principal Executive Offices) (I.R.S. Employer\nIdentification No.)\n(Zip Code)\n____________________________________________________________________________\n(Registrant’s telephone number, including area code): (781) 222-6000\n____________________________________________________________________________\nSecurities registered pursuant to Sect",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_key_financials",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Total revenue 2'923'933k, earnings per common share from continuing operations attributable to common shareholders basic 7.35, diluted: 7.2",
      "golden_context": "Page 39:\n\nem 6. Selected Consolidated Financial Data\nThe selected financial data presented below for the fiscal years ended 2020, 2019, and 2018 and as of the fiscal years ended 2020 and 2019, is derived\nfrom our audited consolidated financial statements and should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition\nand Results of Operations” contained in Item 7 and “Financial Statements and Supplementary Data” contained in Item 8 of this Annual Report on Form\n10-K. The selected financial data presented below for the fiscal years ended 2017 and 2016 and as of the fiscal years ended 2018, 2017 and 2016, is\nderived from our audited consolidated financial statements within previously filed Annual Reports on Form 10-K. Our fiscal year is typically based on 52-\nweeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31. A\n53 rd\nweek was included in the fourth quarter of fiscal year 2016, which is occasionally necessary to align with a December 31 calendar year-end.\nFiscal Year\n2020 2019 2018 2017 2016\n(in thousands, except per share amounts)\nStatement of Income Data\nTotal revenue $ 2,923,933 $ 2,621,226 $ 2,266,096 $ 1,857,601 $ 1,681,432\nIncome from continuing operations, net of income taxes 365,306 254,061 227,218 125,586 156,086\nIncome (loss) from discontinued operations, net of income taxes — — 1,506 (137) 280\nCommon Share Data\nEarnings per common share from continuing operations attributable to\ncommon shareholders:\nBasic Diluted $ 7.35 $ 5.17 $ 4.69 $ 2.60 $ 3.28\n$ 7.20 $ 5.07 $ 4.59 $ 2.54 $ 3.22\nOther Data\nDepreciation and amortization Capital expenditures $ 234,924 $ 198,095 $ 161,779 $ 131,159 $ 126,658\n166,560 140,514 140,054 82,431 55,288\nBalance Sheet Data (as of period end)\nCash and cash equivalents $ 228,424 $ 238,014 $ 195,442 $ 163,794 $ 117,626\nTotal assets 5,490,831 4,692,790 3,855,879 2,929,922 2,711,800\nLong-term debt, net and finance leases 1,929,571 1,849,666 1,636,598 1,114,105 1,207,696\nRedeemable noncontrolling interests 25,499 28,647 18,525 16,609 14,659\nRefer to the following included in Item 8,\nfiled Annual Reports on Form 10-K for additional information:\n“Financial Statements and Supplementary Data” in this Annual Report on Form 10-K as well as within previously\n• Note 2,\n“Business Combinations” concerning the impact of our recent acquisitions, including revenue, operating income, assets acquired and\nliabilities assumed, and related acquisition and integration costs;\n• Note 9,\nacquisitions;\n“Long-Term Debt and Finance Lease Obligations” concerning the impact of debt related activities in connection with our recent\n• Note 11,\n“Income Taxes” concerning the impact of U.S. Tax Reform in fiscal year ended 2017; and\n• Note 1,\n“Description of Business and Summary of Significant Accounting Policies” and Note 16,\nAccounting Standards Codification 842,\n“Leases” beginning in fiscal year 2019.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_revenue",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Total revenue 2'923'933k",
      "golden_context": "Page 39:\n\nem 6. Selected Consolidated Financial Data\nThe selected financial data presented below for the fiscal years ended 2020, 2019, and 2018 and as of the fiscal years ended 2020 and 2019, is derived\nfrom our audited consolidated financial statements and should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition\nand Results of Operations” contained in Item 7 and “Financial Statements and Supplementary Data” contained in Item 8 of this Annual Report on Form\n10-K. The selected financial data presented below for the fiscal years ended 2017 and 2016 and as of the fiscal years ended 2018, 2017 and 2016, is\nderived from our audited consolidated financial statements within previously filed Annual Reports on Form 10-K. Our fiscal year is typically based on 52-\nweeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31. A\n53 rd\nweek was included in the fourth quarter of fiscal year 2016, which is occasionally necessary to align with a December 31 calendar year-end.\nFiscal Year\n2020 2019 2018 2017 2016\n(in thousands, except per share amounts)\nStatement of Income Data\nTotal revenue $ 2,923,933 $ 2,621,226 $ 2,266,096 $ 1,857,601 $ 1,681,432\nIncome from continuing operations, net of income taxes 365,306 254,061 227,218 125,586 156,086\nIncome (loss) from discontinued operations, net of income taxes — — 1,506 (137) 280\nCommon Share Data\nEarnings per common share from continuing operations attributable to\ncommon shareholders:\nBasic Diluted $ 7.35 $ 5.17 $ 4.69 $ 2.60 $ 3.28\n$ 7.20 $ 5.07 $ 4.59 $ 2.54 $ 3.22\nOther Data\nDepreciation and amortization Capital expenditures $ 234,924 $ 198,095 $ 161,779 $ 131,159 $ 126,658\n166,560 140,514 140,054 82,431 55,288\nBalance Sheet Data (as of period end)\nCash and cash equivalents $ 228,424 $ 238,014 $ 195,442 $ 163,794 $ 117,626\nTotal assets 5,490,831 4,692,790 3,855,879 2,929,922 2,711,800\nLong-term debt, net and finance leases 1,929,571 1,849,666 1,636,598 1,114,105 1,207,696\nRedeemable noncontrolling interests 25,499 28,647 18,525 16,609 14,659\nRefer to the following included in Item 8,\nfiled Annual Reports on Form 10-K for additional information:\n“Financial Statements and Supplementary Data” in this Annual Report on Form 10-K as well as within previously\n• Note 2,\n“Business Combinations” concerning the impact of our recent acquisitions, including revenue, operating income, assets acquired and\nliabilities assumed, and related acquisition and integration costs;\n• Note 9,\nacquisitions;\n“Long-Term Debt and Finance Lease Obligations” concerning the impact of debt related activities in connection with our recent\n• Note 11,\n“Income Taxes” concerning the impact of U.S. Tax Reform in fiscal year ended 2017; and\n• Note 1,\n“Description of Business and Summary of Significant Accounting Policies” and Note 16,\nAccounting Standards Codification 842,\n“Leases” beginning in fiscal year 2019.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_revenue_growth",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenue 2'923'933k, prior year 2'621'226k",
      "golden_context": "Page 39:\n\nem 6. Selected Consolidated Financial Data\nThe selected financial data presented below for the fiscal years ended 2020, 2019, and 2018 and as of the fiscal years ended 2020 and 2019, is derived\nfrom our audited consolidated financial statements and should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition\nand Results of Operations” contained in Item 7 and “Financial Statements and Supplementary Data” contained in Item 8 of this Annual Report on Form\n10-K. The selected financial data presented below for the fiscal years ended 2017 and 2016 and as of the fiscal years ended 2018, 2017 and 2016, is\nderived from our audited consolidated financial statements within previously filed Annual Reports on Form 10-K. Our fiscal year is typically based on 52-\nweeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31. A\n53 rd\nweek was included in the fourth quarter of fiscal year 2016, which is occasionally necessary to align with a December 31 calendar year-end.\nFiscal Year\n2020 2019 2018 2017 2016\n(in thousands, except per share amounts)\nStatement of Income Data\nTotal revenue $ 2,923,933 $ 2,621,226 $ 2,266,096 $ 1,857,601 $ 1,681,432\nIncome from continuing operations, net of income taxes 365,306 254,061 227,218 125,586 156,086\nIncome (loss) from discontinued operations, net of income taxes — — 1,506 (137) 280\nCommon Share Data\nEarnings per common share from continuing operations attributable to\ncommon shareholders:\nBasic Diluted $ 7.35 $ 5.17 $ 4.69 $ 2.60 $ 3.28\n$ 7.20 $ 5.07 $ 4.59 $ 2.54 $ 3.22\nOther Data\nDepreciation and amortization Capital expenditures $ 234,924 $ 198,095 $ 161,779 $ 131,159 $ 126,658\n166,560 140,514 140,054 82,431 55,288\nBalance Sheet Data (as of period end)\nCash and cash equivalents $ 228,424 $ 238,014 $ 195,442 $ 163,794 $ 117,626\nTotal assets 5,490,831 4,692,790 3,855,879 2,929,922 2,711,800\nLong-term debt, net and finance leases 1,929,571 1,849,666 1,636,598 1,114,105 1,207,696\nRedeemable noncontrolling interests 25,499 28,647 18,525 16,609 14,659\nRefer to the following included in Item 8,\nfiled Annual Reports on Form 10-K for additional information:\n“Financial Statements and Supplementary Data” in this Annual Report on Form 10-K as well as within previously\n• Note 2,\n“Business Combinations” concerning the impact of our recent acquisitions, including revenue, operating income, assets acquired and\nliabilities assumed, and related acquisition and integration costs;\n• Note 9,\nacquisitions;\n“Long-Term Debt and Finance Lease Obligations” concerning the impact of debt related activities in connection with our recent\n• Note 11,\n“Income Taxes” concerning the impact of U.S. Tax Reform in fiscal year ended 2017; and\n• Note 1,\n“Description of Business and Summary of Significant Accounting Policies” and Note 16,\nAccounting Standards Codification 842,\n“Leases” beginning in fiscal year 2019.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000126_segments",
      "report_id": "ID_000126",
      "company_name": "Charles River",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Research Models and Services (RMS), Discovery and Safety Assessment (DSA) and Manufacturing Support\n(Manufacturing).",
      "golden_context": "Page 8:\n\nutsourced or more, while emerging growth areas such as discovery and certain research model services are currently believed to be less outsourced.\nWe currently operate in over 100 facilities and in over 20 countries worldwide (excluding our Insourcing Solutions sites). Our products and services,\nsupported by our global infrastructure and deep scientific expertise, enable our clients to overcome many of the challenges of early-stage life sciences\nresearch. In 2020, our total revenue was $2.9 billion and our operating income from continuing operations, before income taxes, was $447.1 million.\nWe have three reporting segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA) and Manufacturing Support\n(Manufacturing).\nThrough our RMS segment, we have supplied research models to the drug development industry since 1947. With over 150 different stocks and strains,\nwe continue to maintain our position as a global leader in the production and sale of the most widely used rodent research model strains and purpose-\nbred rats and mice. We also provide a variety of related services that are designed to support our clients in the use of research models in drug discovery\nand development. We maintain multiple production centers, including barrier rooms and isolator facilities, on three continents (North America, Europe,\nand Asia). In 2020, RMS accounted for 19.6% of our total revenue and approximately 3,900 of our employees, including approximately 220 science\nprofessionals with advanced degrees. In addition, in 2020, we added new services in our Research Products business through the acquisition of\nHemaCare Corporation (HemaCare) and Cellero, LLC (Cellero).\nOur DSA business segment provides services that enable our clients to outsource their innovative drug discovery research, their related drug\ndevelopment activities, and their regulatory-required safety testing of potential new drugs, vaccines, industrial and agricultural chemicals, consumer\nproducts, veterinary medicines and medical devices. The demand for these services is driven by the needs of large global pharmaceutical companies that\nhave exceeded their internal capacity or that continue to transition to an outsourced drug development model, as well as by the needs of small\nbiotechnology companies, chemical companies and non-governmental organizations that rely on outsourcing for most of their discovery, development\nand safety testing programs. These entities may ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_cash_flow",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "330'251k free cash flow",
      "golden_context": "Page 17:\n\ndollars in thousands)\nNet cash provided by operating activities\nAdd back: Tax impact of Avian divestiture(7)\nLess: Capital expenditures\nFree cash flow\nDecember 31,\n2022\n$ 619,640\n35,344\n(324,733)\n$ 330,251\nTwelve Months Ended\nDecember 25,\n2021\nDecember 26,\n2020\nDecember 28,\n2019\nDecember 29,\n2018\n$ 760,799\n—\n$ 546,575\n—\n$ 480,936\n—\n$ 441,140\n(228,772)\n(166,560)\n(140,514)\n(140,054)\n$ 532,027\n$ 380,015\n$ 340,422\n$ 301,086",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_company_type",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 18:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n____________________________________________\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE TRANSITION PERIOD FROM TO\nCommission File No. 001-15943\nCHARLES RIVER LABORATORIES INTERNATIONAL, INC.\n(Exact Name of Registrant as Specified in Its Charter)\nDelaware 06-1397316\n(State or Other Jurisdiction of\nIncorporation or Organization)\n251 Ballardvale Street Wilmington Massachusetts 01887\n(Address of Principal Executive Offices) (I.R.S. Employer\nIdentification No.)\n(Zip Code)\n____________________________________________________________________________\n(Registrant’s telephone number, including area code): (781) 222-6000\nTitle of each class Common stock, $0.01 par value ____________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTicker symbol(s) Name of each exchange on which registered\nCRL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: Yes ☐ No ☒\nIndicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for su",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_key_financials",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "3.98bn revenue, 330'251k",
      "golden_context": "Page 5:\n\nRevenue in 2022 was $3.98 billion, representing a 12.3% increase over\nthe previous year on a reported basis. On an organic basis, revenue\nincreased by a robust 13.4%, with each of our business segments\ncontributing to the growth. The investments we have made in staff,\ncapacity, and infrastructure in recent years and our continued efforts to\ndrive operating efficiencies and optimize our cost structure have enabled\nus to withstand higher inflationary cost pressures and other business\nchallenges, resulting in a steady non-GAAP operating margin of 21.0%\nin 2022. The contributions of robust revenue growth and operating\nperformance resulted in non-GAAP earnings p\n\nPage 17:\n\ndollars in thousands)\nNet cash provided by operating activities\nAdd back: Tax impact of Avian divestiture(7)\nLess: Capital expenditures\nFree cash flow\nDecember 31,\n2022\n$ 619,640\n35,344\n(324,733)\n$ 330,251\nTwelve Months Ended\nDecember 25,\n2021\nDecember 26,\n2020\nDecember 28,\n2019\nDecember 29,\n2018\n$ 760,799\n—\n$ 546,575\n—\n$ 480,936\n—\n$ 441,140\n(228,772)\n(166,560)\n(140,514)\n(140,054)\n$ 532,027\n$ 380,015\n$ 340,422\n$ 301,086",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_revenue",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "3.98bn revenue",
      "golden_context": "Page 5:\n\nRevenue in 2022 was $3.98 billion, representing a 12.3% increase over\nthe previous year on a reported basis. On an organic basis, revenue\nincreased by a robust 13.4%, with each of our business segments\ncontributing to the growth. The investments we have made in staff,\ncapacity, and infrastructure in recent years and our continued efforts to\ndrive operating efficiencies and optimize our cost structure have enabled\nus to withstand higher inflationary cost pressures and other business\nchallenges, resulting in a steady non-GAAP operating margin of 21.0%\nin 2022. The contributions of robust revenue growth and operating\nperformance resulted in non-GAAP earnings p",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_revenue_growth",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "3.98bn revenue, increased 13.4%",
      "golden_context": "Page 5:\n\nRevenue in 2022 was $3.98 billion, representing a 12.3% increase over\nthe previous year on a reported basis. On an organic basis, revenue\nincreased by a robust 13.4%, with each of our business segments\ncontributing to the growth. The investments we have made in staff,\ncapacity, and infrastructure in recent years and our continued efforts to\ndrive operating efficiencies and optimize our cost structure have enabled\nus to withstand higher inflationary cost pressures and other business\nchallenges, resulting in a steady non-GAAP operating margin of 21.0%\nin 2022. The contributions of robust revenue growth and operating\nperformance resulted in non-GAAP earnings p",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000127_segments",
      "report_id": "ID_000127",
      "company_name": "Charles River",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Discovery and Safety Assessment\nResearch Models and Services\nManufacturing Solutions",
      "golden_context": "Page 6:\n\nOur portfolio is organized in three reporting segments, which span the\nentire drug discovery and development continuum:\n•\nOur Discovery and Safety Assessment segment delivers a flexible and\nefficient outsourcing model for non-clinical development to enable\nquick progression into the clinic and the drug approval process.\n1 9 9 1\nJim Foster was named President and Chief Operating\nOfficer of Charles River Laboratories in 1991, and\nPresident and Chief Executive Officer in 1992.\n1 9 9 4\nCharles River acquired EndoSafe®, a\nleading manufacturer of Limulus amebocyte\nlysate (LAL) products and provider of in vitro\nendotoxin testing solutions.\n•\n•\nOur Research Models and Services segment, which has evolved\nsince its founding 75 years ago, serves as a high-quality\nsupplier of research models and associated services to support\nbiopharmaceutical researchers in the discovery of new therapeutics.\nOur Manufacturing Solutions segment provides comprehensive\nproducts and services, including the production of C&GT drugs,\nto support biopharmaceutical manufacturers in the quality control\ntesting, process development, and clinical-to-commercial production\nof advanced therapies.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_cash_flow",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": " Operating $683.9m, Investing $(563.2)m  ",
      "golden_context": "  CHARLES RIVER LABORATORIES INTERNATIONAL, INC.                                                                                                  \n  CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                           \n  (in thousands)                                                                                                                                  \n                                                      Fiscal Year                                                                                 \n                                                      2023            2022                                                                        \n  Net income                                          $480,370        $492,608                                                                    \n  Net cash provided by operating activities           683,898         619,640                                                                     \n  Net cash used in investing activities               (563,155)       (607,922)                                                                   \n  Net cash (used in) provided by financing activities (85,521)        8,044                                                                       \n  Effect of exchange rate changes on cash             8,044           43,266                                                                      \n  Net change in cash                                  43,266          241,214                                                                     \n  Cash, cash equivalents, end of period               $284,480        $241,214                                                                    \n                                                                                 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_company_type",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "  FORM 10-K                                                                                                                                       \n  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                                                            \n  FOR THE FISCAL YEAR ENDED December 30, 2023                                                                                                     \n                                                                                                                                                  \n  CHARLES RIVER LABORATORIES INTERNATIONAL, INC.                                                                                                  \n  (Exact Name of Registrant as Specified in Its Charter)                                                                                          \n  Delaware                                                                                                                                        \n  (State or Other Jurisdiction of Incorporation or Organization)  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_key_financials",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "revenue 4,129,409k, 480,370k net income, EPS diluted $9.22\n",
      "golden_context": "  CHARLES RIVER LABORATORIES INTERNATIONAL, INC.                                                                                                  \n  CONSOLIDATED STATEMENTS OF INCOME                                                                                                               \n  (in thousands, except per share amounts)                                                                                                        \n                                                      Fiscal Year                                                                                 \n                                                      2023            2022                                                                        \n  Service revenue                                     3,440,019       3,216,904                                                                   \n  Product revenue                                     689,390         759,156                                                                     \n  Total revenue                                       4,129,409       3,976,060                                                                   \n  Operating income                                    617,261         650,975                                                                     \n  Income before income taxes                          581,284         622,987                                                                     \n  Provision for income taxes                          100,914         130,379                                                                     \n  Net income                                          480,370         492,608                                                                     \n  Net income attributable to common shareholders      474,624         486,226                                                                     \n  Earnings per common share                                                                                                                       \n  Net income attributable to common shareholders:                                                                                                 \n  Basic                                               $9.27           $9.57                                                                       \n  Diluted                                             $9.22           $9.48                                                                       \n                                                                              ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_revenue",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": " $4,129,409k    ",
      "golden_context": "  In 2023, our total revenue was $4.1 billion.                                                                                                    \n  We have three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA) and Manufacturing Solutions        \n  (Manufacturing).  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_revenue_growth",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "FY2023 vs FY2022 comparison ($4.1bn vs $3.98bn) ",
      "golden_context": "  The following tables present consolidated revenue by type and by reportable segment:                                                            \n                                      Fiscal Year                                                                                                 \n                                      2023            2022            $ change        % change                                                    \n                                      (in thousands, except percentages)                                                                          \n  Service revenue                     $3,440,019      $3,216,904      $223,115        6.9%                                                        \n  Product revenue                     689,390         759,156         (69,766)        (9.2)%                                                      \n  Total revenue                       $4,129,409      $3,976,060      $153,349        3.9%      ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000128_segments",
      "report_id": "ID_000128",
      "company_name": "Charles River",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Research Models and Services (RMS), Discovery and Safety Assessment (DSA) and Manufacturing Solutions (Manufacturing).",
      "golden_context": "  We have three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA) and Manufacturing Solutions        \n  (Manufacturing).                                                                                                                                \n                                                                                                                                                  \n  In 2023, RMS accounted for 19.2% of our total revenue.                                                                                          \n  In 2023, our DSA segment represented 63.3% of our total revenue.                                                                                \n  In 2023, Manufacturing accounted for 17.4% of our total revenue.   ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_cash_flow",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Net cash flow operating: 860m, investing -1387m, financing 477m, total cash flow -50m",
      "golden_context": "Page 87:\n\nSummary of Cash Flows\nThe following tables present net cash provided by (used for) operating, investing, and financing\nactivities for the years ended December 31, 2021, and 2020 (dollars in millions):\nPinnacle West Consolidated\n2021 2020\nNet cash flow provided by operating activities $ 860 $ 967\nNet cash flow used for investing activities (1,387) (1,278)\nNet cash flow provided by financing activities 477 361\nNet increase (decrease) in cash and cash equivalents $ (50) $ 50\nArizona Public Service Company\n2021 2020\nNet cash flow provided by operating activities $ 865 $ 929\nNet cash flow used for investing activities (1,391) (1,286)\nNet cash flow provided by financing activities 478 404\nNet increase (decrease) in cash and cash equivalents $ (48) $ 47",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_company_type",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 9:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File\nNumber\nExact Name of Each Registrant as specified in its\ncharter; State of Incorporation; Address; and\nTelephone Number\nIRS Employer\nIdentification No.\n1-8962 PINNACLE WEST CAPITAL CORPORATION 86-0512431\n(an Arizona corporation)\n400 North Fifth Street, P.O. Box 53999\nPhoenix Arizona 85072-3999\n(602) 250-1000\n1-4473 ARIZONA PUBLIC SERVICE COMPANY 86-0011170\n(an Arizona corporation)\n400 North Fifth Street, P.O. Box 53999\nPhoenix Arizona 85072-3999\n(602) 250-1000\nTitle Of Each Class Securities registered pursuant to Section 12(b) of the Act:\nPINNACLE WEST CAPITAL\nCORPORATION\nCommon Stock,\nNo Par Value\nPNW New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nARIZONA PUBLIC SERVICE COMPANY Common Stock, Par Value $2.50 per share\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act\nPINNACLE WEST CAPITAL CORPORATION ARIZONA PUBLIC SERVICE COMPANY Yes ☒ No ☐\nYes ☒ No ☐\nTrading Symbol Name Of Each Exchange On Which Registered\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nPINNACLE WEST CAPITAL CORPORATION ARIZONA PUBLIC SERVICE COMPANY Yes ☐ No ☒\nYes ☐ No ☒\nIndicate by check mark whether each registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nPINNACLE WEST CAPITAL CORPORATION Yes ☒ No ☐\nARIZONA PUBLIC SERVICE COMPANY Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted\nand posted pursuant to Rule 405 of Regulation S-T during the pre",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_key_financials",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "3'803'835k revenues, earnings 4.87 per share",
      "golden_context": "Page 106:\n\nPINNACLE WEST CAPITAL CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\n(dollars and shares in thousands, except per share amounts)\nYear Ended December 31,\n2021 2020 2019\nOPERATING REVENUES (Note 2) $ 3,803,835 $ 3,586,982 $ 3,471,209\nOPERATING EXPENSES\nFuel and purchased power 1,152,551 993,419 1,042,237\nOperations and maintenance 954,067 958,910 941,616\nDepreciation and amortization 650,875 614,378 590,929\nTaxes other than income taxes 234,639 224,835 218,579\nOther expenses 6,393 7,288 5,888\nTotal 2,998,525 2,798,830 2,799,249\nOPERATING INCOME 805,310 788,152 671,960\nOTHER INCOME (DEDUCTIONS)\nAllowance for equity funds used during construction (Note 1) 41,737 33,776 31,431\nPension and other postretirement non-service credits — net (Note 8) 112,541 56,341 22,989\nOther income (Note 17) 45,100 56,703 50,263\nOther expense (Note 17) (25,396) (57,776) (17,880)\nTotal 173,982 89,044 86,803\nINTEREST EXPENSE\nInterest charges 254,314 247,501 235,251\nAllowance for borrowed funds used during construction (Note 1) (21,052) (18,530) (18,528)\nTotal 233,262 228,971 216,723\nINCOME BEFORE INCOME TAXES 746,030 648,225 542,040\nINCOME TAXES (Note 5) 110,086 78,173 (15,773)\nNET INCOME 635,944 570,052 557,813\nLess: Net income attributable to noncontrolling interests (Note 18) 17,224 19,493 19,493\nNET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 618,720 $ 550,559 $ 538,320\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nBASIC 112,910 112,666 112,443\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nDILUTED 113,192 112,942 112,758\nEARNINGS PER WEIGHTED-AVERAGE COMMON SHARE\nOUTSTANDING\nNet income attributable to common shareholders — basic $ 5.48 $ 4.89 $ 4.79\nNet income attributable to common shareholders — diluted $ 5.47 $ 4.87 $ 4.77\nThe accompanying notes are an integral part of the financial statements.\"\n\nPage 3:\n\ne and investment in us that\nmake it possible to deliver the product and\nservices that power Arizona’s economy and way\nof life, something we do not take for granted.\nA competitive financial outlook\nIn 2021, reliable operations, customer\ngrowth, increased sales and disciplined cost\nmanagement helped drive Pinnacle West\nearnings of $618.7 million, or $5.47 per share,\nsurpassing our 2020 results of $550.6 million,\nor $4.87 per share.\nWhile 2021 finished strong, we have guided\nexpectations for 2022 as a financial reset year\ndue to the unfavorable outcome of our recent\nrate case. We also have committed to protect\nshareholders as much as possible by deferring\nequity needs until 2024, defending the dividend\nand managing our capital program to ensure\nwe maintain inves",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_revenue",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "3'803'835k",
      "golden_context": "Page 106:\n\nPINNACLE WEST CAPITAL CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\n(dollars and shares in thousands, except per share amounts)\nYear Ended December 31,\n2021 2020 2019\nOPERATING REVENUES (Note 2) $ 3,803,835 $ 3,586,982 $ 3,471,209\nOPERATING EXPENSES\nFuel and purchased power 1,152,551 993,419 1,042,237\nOperations and maintenance 954,067 958,910 941,616\nDepreciation and amortization 650,875 614,378 590,929\nTaxes other than income taxes 234,639 224,835 218,579\nOther expenses 6,393 7,288 5,888\nTotal 2,998,525 2,798,830 2,799,249\nOPERATING INCOME 805,310 788,152 671,960\nOTHER INCOME (DEDUCTIONS)\nAllowance for equity funds used during construction (Note 1) 41,737 33,776 31,431\nPension and other postretirement non-service credits — net (Note 8) 112,541 56,341 22,989\nOther income (Note 17) 45,100 56,703 50,263\nOther expense (Note 17) (25,396) (57,776) (17,880)\nTotal 173,982 89,044 86,803\nINTEREST EXPENSE\nInterest charges 254,314 247,501 235,251\nAllowance for borrowed funds used during construction (Note 1) (21,052) (18,530) (18,528)\nTotal 233,262 228,971 216,723\nINCOME BEFORE INCOME TAXES 746,030 648,225 542,040\nINCOME TAXES (Note 5) 110,086 78,173 (15,773)\nNET INCOME 635,944 570,052 557,813\nLess: Net income attributable to noncontrolling interests (Note 18) 17,224 19,493 19,493\nNET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 618,720 $ 550,559 $ 538,320\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nBASIC 112,910 112,666 112,443\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nDILUTED 113,192 112,942 112,758\nEARNINGS PER WEIGHTED-AVERAGE COMMON SHARE\nOUTSTANDING\nNet income attributable to common shareholders — basic $ 5.48 $ 4.89 $ 4.79\nNet income attributable to common shareholders — diluted $ 5.47 $ 4.87 $ 4.77\nThe accompanying notes are an integral part of the financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_revenue_growth",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "3'803'835k, previous year 3'586'982k",
      "golden_context": "Page 106:\n\nPINNACLE WEST CAPITAL CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\n(dollars and shares in thousands, except per share amounts)\nYear Ended December 31,\n2021 2020 2019\nOPERATING REVENUES (Note 2) $ 3,803,835 $ 3,586,982 $ 3,471,209\nOPERATING EXPENSES\nFuel and purchased power 1,152,551 993,419 1,042,237\nOperations and maintenance 954,067 958,910 941,616\nDepreciation and amortization 650,875 614,378 590,929\nTaxes other than income taxes 234,639 224,835 218,579\nOther expenses 6,393 7,288 5,888\nTotal 2,998,525 2,798,830 2,799,249\nOPERATING INCOME 805,310 788,152 671,960\nOTHER INCOME (DEDUCTIONS)\nAllowance for equity funds used during construction (Note 1) 41,737 33,776 31,431\nPension and other postretirement non-service credits — net (Note 8) 112,541 56,341 22,989\nOther income (Note 17) 45,100 56,703 50,263\nOther expense (Note 17) (25,396) (57,776) (17,880)\nTotal 173,982 89,044 86,803\nINTEREST EXPENSE\nInterest charges 254,314 247,501 235,251\nAllowance for borrowed funds used during construction (Note 1) (21,052) (18,530) (18,528)\nTotal 233,262 228,971 216,723\nINCOME BEFORE INCOME TAXES 746,030 648,225 542,040\nINCOME TAXES (Note 5) 110,086 78,173 (15,773)\nNET INCOME 635,944 570,052 557,813\nLess: Net income attributable to noncontrolling interests (Note 18) 17,224 19,493 19,493\nNET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 618,720 $ 550,559 $ 538,320\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nBASIC 112,910 112,666 112,443\nWEIGHTED-AVERAGE COMMON SHARES OUTSTANDING —\nDILUTED 113,192 112,942 112,758\nEARNINGS PER WEIGHTED-AVERAGE COMMON SHARE\nOUTSTANDING\nNet income attributable to common shareholders — basic $ 5.48 $ 4.89 $ 4.79\nNet income attributable to common shareholders — diluted $ 5.47 $ 4.87 $ 4.77\nThe accompanying notes are an integral part of the financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000129_segments",
      "report_id": "ID_000129",
      "company_name": "Pinnacle West Capital",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Electricity",
      "golden_context": "Page 15:\n\ny all of our revenues and earnings from our wholly-owned subsidiary, APS. APS is a vertically-\nintegrated electric utility that provides either retail or wholesale electric service to most of the State of\nArizona, with the major exceptions of about one-half of the Phoenix metropolitan area, the Tucson\nmetropolitan area and Mohave County in northwestern Arizona.\nPinnacle West’s other subsidiaries are El Dorado, BCE and 4CA. Additional information related to\nthese subsidiaries is provided later in this report.\nOur reportable business segment is our regulated electricity segment, which consists of traditional\nregulated retail and wholesale electricity businesses (primarily electric service to Native Load customers)\nand related activities, and includes electricity generation, transmission, and distribution.\nBUSINESS OF ARIZONA PUBLIC SERVICE COMPANY\nAPS currently provides electric service to approximately 1.3 million customers. We own or lease\n6,323 MW of regulated generation capacity and we hold a mix of both long-term and short-term purchased\npower agreements for additional capacity, including a variety of agreements for the purchase of renewable\nenergy. During 20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_cash_flow",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating 1'367'047k, investing -418'758k, financing -985'135k",
      "golden_context": "Page 65:\n\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Cash Flows\n(In thousands)\nYear Ended December 31,\n2021 2020 2019\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet income $ 1,092,124 $ 640,414 $ 545,034\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 284,003 299,497 314,406\nImpairment of equity method investments — — 41,057\nLoss on disposal of businesses and impairment of net assets held for sale 28 3,174 47,102\nStock-based compensation expense 33,736 29,078 27,695\nLoss (gain) on debt extinguishment 23,564 12,751 (128)\nDeferred income taxes (27,079) (33,827) 7,109\nOther (36,610) (3,934) (16,183)\nChanges in operating assets and liabilities, net of effects from acquisitions and\ndispositions:\nReceivables, net (16,234) 93,588 26,419\nInventories (234,514) 433,072 15,460\nPrepaid income taxes/income taxes payable (65,051) 34,945 25,776\nAccounts payable 283,185 (64,032) 3,712\nOther operating assets and liabilities 29,895 (856) 26,574\nNet cash provided by operating activities 1,367,047 1,443,870 1,064,033\nCASH FLOWS FROM INVESTING ACTIVITIES:\nPurchases of property, plant and equipment (293,466) (172,695) (265,730)\nProceeds from disposals of property, plant and equipment 19,565 16,750 16,045\nAcquisitions, net of cash acquired (123,898) (7,363) (27,296)\nOther investing activities, net (20,959) (2,579) 12,128\nNet cash used in investing activities (418,758) (165,887) (264,853)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nEarly-redemption premium (16,014) (9,498) —\nRepayment of Euro Notes (2026) (883,275) — —\nRepayment of U.S. Notes (2023) — (600,000) —\nBorrowings under revolving credit facilities 5,034,867 841,485 605,708\nRepayments under revolving credit facilities (3,716,955) (1,472,920) (734,471)\nRepayments under term loans (323,750) (17,500) (8,750)\nBorrowings under receivables securitization facility — 111,300 36,600\nRepayments under receivables securitization facility — (111,300) (146,600)\nRepayments of other debt, net (25,587) (115,609) (53,045)\nSettlement of derivative instruments, net (88,743) — —\nDividends paid to LKQ stockholders (72,873) — —\nPurchase of treasury stock (876,844) (117,292) (291,813)\nOther financing activities, net (15,961) (21,217) (8,298)\nNet cash used in financing activities (985,135) (1,512,551) (600,669)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_company_type",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________________________\nFORM 10-K\n________________________________________\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from _______ to _______\nCommission File Number: 000-50404\n________________________________________\nLKQ CORPORATION\n(Exact name of registrant as specified in its charter)\n________________________________________\nDelaware 36-4215970\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification Number)\n500 West Madison Street, Suite 2800,\nChicago, Illinois 60661\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (312) 621-1950\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per LKQ NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\n________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and \"emerging growth company\" in\nRule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant ha",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_key_financials",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue 13bn, net income 1bn",
      "golden_context": "Page 62:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenue $ 13,088,504 $ 11,628,830 $ 12,506,109\nCost of goods sold 7,766,069 7,035,559 7,654,315\nGross margin 5,322,435 4,593,271 4,851,794\nSelling, general and administrative expenses 3,567,732 3,266,065 3,580,300\nRestructuring and acquisition related expenses 20,311 66,163 36,979\nLoss on disposal of businesses and impairment of net assets held for sale 28 3,174 47,102\nDepreciation and amortization 259,992 272,292 290,770\nOperating income 1,474,372 985,577 896,643\nOther expense (income):\nInterest expense 72,078 103,784 138,504\nLoss (gain) on debt extinguishment 23,564 12,751 (128)\nInterest income and other income, net (20,400) (15,953) (32,755)\nTotal other expense, net 75,242 100,582 105,621\nIncome from continuing operations before provision for income taxes 1,399,130 884,995 791,022\nProvision for income taxes 330,591 249,498 215,330\nEquity in earnings (losses) of unconsolidated subsidiaries 22,937 5,012 (32,277)\nIncome from continuing operations 1,091,476 640,509 543,415\nNet income (loss) from discontinued operations 648 (95) 1,619\nNet income 1,092,124 640,414 545,034\nLess: net income attributable to continuing noncontrolling interest 1,251 1,888 2,800\nLess: net income attributable to discontinued noncontrolling interest — 103 974\nNet income attributable to LKQ stockholders $ 1,090,873 $ 638,423 $ 541,260\nBasic earnings per share: (1)\nIncome from continuing operations $ 3.68 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.68 2.10 1.76\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.68 $ 2.10 $ 1.75\nDiluted earnings per share: (1)\nIncome from continuing operations $ 3.67 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.67 2.10 1.75\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.66 $ 2.09 $ 1.74\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n\nPage 42:\n\nCOVID-19 Impact on Our Operations\nIn late February 2020, the Italian government began placing restrictions on activity as a result of the COVID-19 outbreak. Sales\nvolumes fell as fewer cars were on the road and less maintenance activity was performed. While our Italian operation is an\nimportant part of our European business, it represented approximately 10% of the segment’s revenue in 2019, and thus the\ndisruption did not have a material impact on the Company. By mid-March, the COVID-19 impact began spreading across the\nrest of the geographies where we operate at a very rapid pace. Governments adopted aggressive restrictions on the operation of\nnon-essential businesses and personal movement, which reduced miles driven and collisions. While our businesses were\ndeemed essential in most jurisdictions in which we operate, the change in behavior driven by the COVID-19 restrictions\nnegatively impacted our sales volume. Our organic parts and services revenue declined by 16.8%, 4.5% and 5.2% in the second,\nthird, and fourth quarters of 2020, respectively, relative to the comparable prior year periods. We showed improvement in the\nthird quarter of 2020 as governments gradually lifted restrictions for non-essential businesses and personal movement; however,\nin the fourth quarter of 2020 revenue declined as certain jurisdictions put restrictions back into place. As anticipated, April 2020\nexperienced the most negative revenue impact, with organic parts and services revenue (on a per day basis) down 30.3%\ncompared to the prior year period. As movement restrictions lessened in May and June of 2020, we experienced organic parts\nand services revenue declines (on a per day basis) of 13.2% and 7.3%, respectively, compared to the prior year periods.\nHowever, the pace of improvement flattened into the third quarter of 2020 as the increasing level of COVID-19 cases,\nespecially in the United States, slowed the recovery. During the third quarter of 2020, organic parts and services revenue\ndeclined by 4.5% compared to the prior year period, a small improvement from the June 2020 decline of 7.3% (on a per day\n41\nbasis). During the fourth quarter of 2020, organic parts and services revenue declined by 6.1% (on a per day basis) and\ngradually worsened during the quarter with a decline of 7.2% (on a per day basis) in December. During the first quarter of\n2021, organic parts and services revenue increased by 2.2% (on a per day basis) despite the continued COVID-19 impact on\neconomic activity in the U.S. and Europe. During the second quarter of 2021, organic parts and services revenue increased by\n21.1% (on a per day basis) reflecting the low prior year comparable figure owing to COVID-19 and the gradual recovery in\nmobility. During the third quarter of 2021, the recovery continued with organic parts and services revenue increasing by 4.0%.\nDuring the fourth quarter of 2021, organic parts and services revenue increased by 7.3% (on a per day basis). Since the start of\nthe pandemic, our revenue has been impacted to varying degrees depending on the segment, with North America experiencing\nthe most negative impact due to the decrease in miles driven and collision activity. Europe was also negatively affected by\nmobility restrictions and reduced miles driven but has experienced a quicker recovery than North America and reached its 2019\nrevenue level in the fourth quarter of 2021. After seeing year over year decreases early in the pandemic, Specialty revenue has\ngrown due to favorable trends in recreational vehicle activity and online sales. We expect consolidated parts and services\nrevenue to grow organically in future periods, but the level of the year over year increase in revenue will depend on, among\nother factors, the extent of COVID-19 related restrictions across the geographies in which we operate as strategies to address\nthe virus evolve, the pace of recovery in miles driven and access to inventory, which has been constrained with supply chain\nissues.\nOur top priority is the health and safety of our employees, customers and the communities in which we operate. We are using\nall reasonabl\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2021 2020\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.3 % 60.5 %\nGross margin 40.7 % 39.5 %\nSelling, general and administrative expenses 27.3 % 28.1 %\nRestructuring and acquisition related expenses 0.2 % 0.6 %\nLoss on disposal of businesses and impairment of net assets held for sale 0.0 % 0.0 %\nDepreciation and amortization 2.0 % 2.3 %\nOperating income 11.3 % 8.5 %\nTotal other expense, net 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 10.7 % 7.6 %\nProvision for income taxes 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.2 % 0.0 %\nIncome from continuing operations 8.3 % 5.5 %\nNet income (loss) from discontinued operations 0.0 % (0.0) %\nNet income 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest 0.0 % 0.0 %\nLess: net income attributable to discontinued noncontrolling interest 0.0 % 0.0 %\nNet income attributable to LKQ stockholders 8.3 % 5.5 %\nYear Ended December 31, Percentage Change in Revenue\n2021 2020 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 12,140,516 $ 10,963,713 7.9 % 0.3 % 2.5 % 10.7 Other revenue 947,988 665,117 42.3 % 0.0 % 0.2 % 42.5 Total revenue $ 13,088,504 $ 11,628,830 9.8 % 0.3 % 2.4 % 12.6 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nRevenue. The following table summarizes the changes in revenue by category (in thousands):\n%\n%\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe growth in parts and services revenue of 10.7% represented increases in segment revenue of 23.8% in Specialty, 10.3% in\nEurope, and 6.4% in North America. Organic parts and services reven",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_revenue",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenue 13'088'504k",
      "golden_context": "Page 62:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenue $ 13,088,504 $ 11,628,830 $ 12,506,109\nCost of goods sold 7,766,069 7,035,559 7,654,315\nGross margin 5,322,435 4,593,271 4,851,794\nSelling, general and administrative expenses 3,567,732 3,266,065 3,580,300\nRestructuring and acquisition related expenses 20,311 66,163 36,979\nLoss on disposal of businesses and impairment of net assets held for sale 28 3,174 47,102\nDepreciation and amortization 259,992 272,292 290,770\nOperating income 1,474,372 985,577 896,643\nOther expense (income):\nInterest expense 72,078 103,784 138,504\nLoss (gain) on debt extinguishment 23,564 12,751 (128)\nInterest income and other income, net (20,400) (15,953) (32,755)\nTotal other expense, net 75,242 100,582 105,621\nIncome from continuing operations before provision for income taxes 1,399,130 884,995 791,022\nProvision for income taxes 330,591 249,498 215,330\nEquity in earnings (losses) of unconsolidated subsidiaries 22,937 5,012 (32,277)\nIncome from continuing operations 1,091,476 640,509 543,415\nNet income (loss) from discontinued operations 648 (95) 1,619\nNet income 1,092,124 640,414 545,034\nLess: net income attributable to continuing noncontrolling interest 1,251 1,888 2,800\nLess: net income attributable to discontinued noncontrolling interest — 103 974\nNet income attributable to LKQ stockholders $ 1,090,873 $ 638,423 $ 541,260\nBasic earnings per share: (1)\nIncome from continuing operations $ 3.68 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.68 2.10 1.76\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.68 $ 2.10 $ 1.75\nDiluted earnings per share: (1)\nIncome from continuing operations $ 3.67 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.67 2.10 1.75\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.66 $ 2.09 $ 1.74\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n\nPage 42:\n\nCOVID-19 Impact on Our Operations\nIn late February 2020, the Italian government began placing restrictions on activity as a result of the COVID-19 outbreak. Sales\nvolumes fell as fewer cars were on the road and less maintenance activity was performed. While our Italian operation is an\nimportant part of our European business, it represented approximately 10% of the segment’s revenue in 2019, and thus the\ndisruption did not have a material impact on the Company. By mid-March, the COVID-19 impact began spreading across the\nrest of the geographies where we operate at a very rapid pace. Governments adopted aggressive restrictions on the operation of\nnon-essential businesses and personal movement, which reduced miles driven and collisions. While our businesses were\ndeemed essential in most jurisdictions in which we operate, the change in behavior driven by the COVID-19 restrictions\nnegatively impacted our sales volume. Our organic parts and services revenue declined by 16.8%, 4.5% and 5.2% in the second,\nthird, and fourth quarters of 2020, respectively, relative to the comparable prior year periods. We showed improvement in the\nthird quarter of 2020 as governments gradually lifted restrictions for non-essential businesses and personal movement; however,\nin the fourth quarter of 2020 revenue declined as certain jurisdictions put restrictions back into place. As anticipated, April 2020\nexperienced the most negative revenue impact, with organic parts and services revenue (on a per day basis) down 30.3%\ncompared to the prior year period. As movement restrictions lessened in May and June of 2020, we experienced organic parts\nand services revenue declines (on a per day basis) of 13.2% and 7.3%, respectively, compared to the prior year periods.\nHowever, the pace of improvement flattened into the third quarter of 2020 as the increasing level of COVID-19 cases,\nespecially in the United States, slowed the recovery. During the third quarter of 2020, organic parts and services revenue\ndeclined by 4.5% compared to the prior year period, a small improvement from the June 2020 decline of 7.3% (on a per day\n41\nbasis). During the fourth quarter of 2020, organic parts and services revenue declined by 6.1% (on a per day basis) and\ngradually worsened during the quarter with a decline of 7.2% (on a per day basis) in December. During the first quarter of\n2021, organic parts and services revenue increased by 2.2% (on a per day basis) despite the continued COVID-19 impact on\neconomic activity in the U.S. and Europe. During the second quarter of 2021, organic parts and services revenue increased by\n21.1% (on a per day basis) reflecting the low prior year comparable figure owing to COVID-19 and the gradual recovery in\nmobility. During the third quarter of 2021, the recovery continued with organic parts and services revenue increasing by 4.0%.\nDuring the fourth quarter of 2021, organic parts and services revenue increased by 7.3% (on a per day basis). Since the start of\nthe pandemic, our revenue has been impacted to varying degrees depending on the segment, with North America experiencing\nthe most negative impact due to the decrease in miles driven and collision activity. Europe was also negatively affected by\nmobility restrictions and reduced miles driven but has experienced a quicker recovery than North America and reached its 2019\nrevenue level in the fourth quarter of 2021. After seeing year over year decreases early in the pandemic, Specialty revenue has\ngrown due to favorable trends in recreational vehicle activity and online sales. We expect consolidated parts and services\nrevenue to grow organically in future periods, but the level of the year over year increase in revenue will depend on, among\nother factors, the extent of COVID-19 related restrictions across the geographies in which we operate as strategies to address\nthe virus evolve, the pace of recovery in miles driven and access to inventory, which has been constrained with supply chain\nissues.\nOur top priority is the health and safety of our employees, customers and the communities in which we operate. We are using\nall reasonabl\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2021 2020\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.3 % 60.5 %\nGross margin 40.7 % 39.5 %\nSelling, general and administrative expenses 27.3 % 28.1 %\nRestructuring and acquisition related expenses 0.2 % 0.6 %\nLoss on disposal of businesses and impairment of net assets held for sale 0.0 % 0.0 %\nDepreciation and amortization 2.0 % 2.3 %\nOperating income 11.3 % 8.5 %\nTotal other expense, net 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 10.7 % 7.6 %\nProvision for income taxes 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.2 % 0.0 %\nIncome from continuing operations 8.3 % 5.5 %\nNet income (loss) from discontinued operations 0.0 % (0.0) %\nNet income 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest 0.0 % 0.0 %\nLess: net income attributable to discontinued noncontrolling interest 0.0 % 0.0 %\nNet income attributable to LKQ stockholders 8.3 % 5.5 %\nYear Ended December 31, Percentage Change in Revenue\n2021 2020 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 12,140,516 $ 10,963,713 7.9 % 0.3 % 2.5 % 10.7 Other revenue 947,988 665,117 42.3 % 0.0 % 0.2 % 42.5 Total revenue $ 13,088,504 $ 11,628,830 9.8 % 0.3 % 2.4 % 12.6 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nRevenue. The following table summarizes the changes in revenue by category (in thousands):\n%\n%\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe growth in parts and services revenue of 10.7% represented increases in segment revenue of 23.8% in Specialty, 10.3% in\nEurope, and 6.4% in North America. Organic parts and services reven",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_revenue_growth",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 13'088'504k, prior 11'628'830",
      "golden_context": "Page 62:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenue $ 13,088,504 $ 11,628,830 $ 12,506,109\nCost of goods sold 7,766,069 7,035,559 7,654,315\nGross margin 5,322,435 4,593,271 4,851,794\nSelling, general and administrative expenses 3,567,732 3,266,065 3,580,300\nRestructuring and acquisition related expenses 20,311 66,163 36,979\nLoss on disposal of businesses and impairment of net assets held for sale 28 3,174 47,102\nDepreciation and amortization 259,992 272,292 290,770\nOperating income 1,474,372 985,577 896,643\nOther expense (income):\nInterest expense 72,078 103,784 138,504\nLoss (gain) on debt extinguishment 23,564 12,751 (128)\nInterest income and other income, net (20,400) (15,953) (32,755)\nTotal other expense, net 75,242 100,582 105,621\nIncome from continuing operations before provision for income taxes 1,399,130 884,995 791,022\nProvision for income taxes 330,591 249,498 215,330\nEquity in earnings (losses) of unconsolidated subsidiaries 22,937 5,012 (32,277)\nIncome from continuing operations 1,091,476 640,509 543,415\nNet income (loss) from discontinued operations 648 (95) 1,619\nNet income 1,092,124 640,414 545,034\nLess: net income attributable to continuing noncontrolling interest 1,251 1,888 2,800\nLess: net income attributable to discontinued noncontrolling interest — 103 974\nNet income attributable to LKQ stockholders $ 1,090,873 $ 638,423 $ 541,260\nBasic earnings per share: (1)\nIncome from continuing operations $ 3.68 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.68 2.10 1.76\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.68 $ 2.10 $ 1.75\nDiluted earnings per share: (1)\nIncome from continuing operations $ 3.67 $ 2.10 $ 1.75\nNet income (loss) from discontinued operations 0.00 (0.00) 0.01\nNet income 3.67 2.10 1.75\nLess: net income attributable to continuing noncontrolling interest 0.00 0.01 0.01\nLess: net income attributable to discontinued noncontrolling interest — 0.00 0.00\nNet income attributable to LKQ stockholders $ 3.66 $ 2.09 $ 1.74\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n\nPage 42:\n\nCOVID-19 Impact on Our Operations\nIn late February 2020, the Italian government began placing restrictions on activity as a result of the COVID-19 outbreak. Sales\nvolumes fell as fewer cars were on the road and less maintenance activity was performed. While our Italian operation is an\nimportant part of our European business, it represented approximately 10% of the segment’s revenue in 2019, and thus the\ndisruption did not have a material impact on the Company. By mid-March, the COVID-19 impact began spreading across the\nrest of the geographies where we operate at a very rapid pace. Governments adopted aggressive restrictions on the operation of\nnon-essential businesses and personal movement, which reduced miles driven and collisions. While our businesses were\ndeemed essential in most jurisdictions in which we operate, the change in behavior driven by the COVID-19 restrictions\nnegatively impacted our sales volume. Our organic parts and services revenue declined by 16.8%, 4.5% and 5.2% in the second,\nthird, and fourth quarters of 2020, respectively, relative to the comparable prior year periods. We showed improvement in the\nthird quarter of 2020 as governments gradually lifted restrictions for non-essential businesses and personal movement; however,\nin the fourth quarter of 2020 revenue declined as certain jurisdictions put restrictions back into place. As anticipated, April 2020\nexperienced the most negative revenue impact, with organic parts and services revenue (on a per day basis) down 30.3%\ncompared to the prior year period. As movement restrictions lessened in May and June of 2020, we experienced organic parts\nand services revenue declines (on a per day basis) of 13.2% and 7.3%, respectively, compared to the prior year periods.\nHowever, the pace of improvement flattened into the third quarter of 2020 as the increasing level of COVID-19 cases,\nespecially in the United States, slowed the recovery. During the third quarter of 2020, organic parts and services revenue\ndeclined by 4.5% compared to the prior year period, a small improvement from the June 2020 decline of 7.3% (on a per day\n41\nbasis). During the fourth quarter of 2020, organic parts and services revenue declined by 6.1% (on a per day basis) and\ngradually worsened during the quarter with a decline of 7.2% (on a per day basis) in December. During the first quarter of\n2021, organic parts and services revenue increased by 2.2% (on a per day basis) despite the continued COVID-19 impact on\neconomic activity in the U.S. and Europe. During the second quarter of 2021, organic parts and services revenue increased by\n21.1% (on a per day basis) reflecting the low prior year comparable figure owing to COVID-19 and the gradual recovery in\nmobility. During the third quarter of 2021, the recovery continued with organic parts and services revenue increasing by 4.0%.\nDuring the fourth quarter of 2021, organic parts and services revenue increased by 7.3% (on a per day basis). Since the start of\nthe pandemic, our revenue has been impacted to varying degrees depending on the segment, with North America experiencing\nthe most negative impact due to the decrease in miles driven and collision activity. Europe was also negatively affected by\nmobility restrictions and reduced miles driven but has experienced a quicker recovery than North America and reached its 2019\nrevenue level in the fourth quarter of 2021. After seeing year over year decreases early in the pandemic, Specialty revenue has\ngrown due to favorable trends in recreational vehicle activity and online sales. We expect consolidated parts and services\nrevenue to grow organically in future periods, but the level of the year over year increase in revenue will depend on, among\nother factors, the extent of COVID-19 related restrictions across the geographies in which we operate as strategies to address\nthe virus evolve, the pace of recovery in miles driven and access to inventory, which has been constrained with supply chain\nissues.\nOur top priority is the health and safety of our employees, customers and the communities in which we operate. We are using\nall reasonabl\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2021 2020\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.3 % 60.5 %\nGross margin 40.7 % 39.5 %\nSelling, general and administrative expenses 27.3 % 28.1 %\nRestructuring and acquisition related expenses 0.2 % 0.6 %\nLoss on disposal of businesses and impairment of net assets held for sale 0.0 % 0.0 %\nDepreciation and amortization 2.0 % 2.3 %\nOperating income 11.3 % 8.5 %\nTotal other expense, net 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 10.7 % 7.6 %\nProvision for income taxes 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.2 % 0.0 %\nIncome from continuing operations 8.3 % 5.5 %\nNet income (loss) from discontinued operations 0.0 % (0.0) %\nNet income 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest 0.0 % 0.0 %\nLess: net income attributable to discontinued noncontrolling interest 0.0 % 0.0 %\nNet income attributable to LKQ stockholders 8.3 % 5.5 %\nYear Ended December 31, Percentage Change in Revenue\n2021 2020 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 12,140,516 $ 10,963,713 7.9 % 0.3 % 2.5 % 10.7 Other revenue 947,988 665,117 42.3 % 0.0 % 0.2 % 42.5 Total revenue $ 13,088,504 $ 11,628,830 9.8 % 0.3 % 2.4 % 12.6 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nRevenue. The following table summarizes the changes in revenue by category (in thousands):\n%\n%\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe growth in parts and services revenue of 10.7% represented increases in segment revenue of 23.8% in Specialty, 10.3% in\nEurope, and 6.4% in North America. Organic parts and services reven",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000130_segments",
      "report_id": "ID_000130",
      "company_name": "LKQ",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Wholesale - North America, Europe, Specialty, and Self Service",
      "golden_context": "Page 5:\n\nWe are organized into four operating segments: Wholesale - North America, Europe, Specialty, and Self Service. We aggregate\nour Wholesale - North America and Self Service operating segments into one reportable segment, North America, resulting in\nthree reportable segments: North America, Europe and Specialty. See Note 15, \"Segment and Geographic Information\" to the\nConsolidated Financial Statements in Part II, Item 8 of this Annual Report on Form 10-K for financial information by\nreportable segment and by geographic region",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_cash_flow",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1250m, investing: 172m, financing: -1394m, total cash flow 274m",
      "golden_context": "Page 67:\n\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Cash Flows\n(In millions)\nYear Ended December 31,\n2022 2021 2020\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet income $ 1,150 $ 1,092 $ 640\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 264 284 299\n(Gain) on disposal of businesses and impairment of net assets held for sale (159) — 3\nStock-based compensation expense 38 34 29\nLoss on debt extinguishment — 24 13\nDeferred income taxes 6 (27) (34)\nOther (14) (37) (4)\nChanges in operating assets and liabilities, net of effects from acquisitions and dispositions:\nReceivables, net (16) (16) 94\nInventories (342) (235) 433\nPrepaid income taxes/income taxes payable 33 (65) 35\nAccounts payable 269 283 (64)\nOther operating assets and liabilities 21 30 —\nNet cash provided by operating activities 1,250 1,367 1,444\nCASH FLOWS FROM INVESTING ACTIVITIES:\nPurchases of property, plant and equipment (222) (293) (173)\nProceeds from disposals of property, plant and equipment 9 20 17\nAcquisitions, net of cash acquired (4) (124) (7)\nProceeds from disposals of businesses 399 7 5\nOther investing activities, net (10) (29) (8)\nNet cash provided by (used in) investing activities 172 (419) (166)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nEarly-redemption premium — (16) (9)\nRepayment of Euro Notes (2026) — (883) —\nRepayment of U.S. Notes (2023) — — (600)\nBorrowings under revolving credit facilities 1,644 5,035 841\nRepayments under revolving credit facilities (1,675) (3,717) (1,473)\nRepayments under term loans — (324) (18)\nBorrowings under receivables securitization facility — — 111\nRepayments under receivables securitization facility — — (111)\nRepayments of other debt, net (17) (26) (116)\nSettlement of derivative instruments, net — (89) —\nDividends paid to LKQ stockholders (284) (73) —\nPurchase of treasury stock (1,040) (877) (117)\nOther financing activities, net (22) (15) (21)\nNet cash used in financing activities (1,394) (985) (1,513)\nEffect of exchange rate changes on cash, cash equivalents and restricted cash (24) (1) 12\nNet increase (decrease) in cash, cash equivalents and restricted cash 4 (38) (223)\nCash and cash equivalents of continuing operations, beginning of period (1) 274 312 528\nAdd: Cash and cash equivalents of discontinued operations, beginning of period — — 7\nCash and cash equivalents of continuing and discontinued operations, beginning of period 274 312 535\nCash and cash equivalents, end of period (1) The balance as of January 1, 2020 included restricted cash of $5 million.\n$ 278 $ 274 $ 312\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n66\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Cash Flows\n(In millions)\nYear Ended December 31,\n2022 2021 2020\nSupplemental disclosure of cash paid for:\nIncome taxes, net of refunds $ 346 $ 423 $ 248\nInterest 71 76 107",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_company_type",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________________________\nFORM 10-K\n________________________________________\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from _______ to _______\nCommission File Number: 000-50404\n________________________________________\nLKQ CORPORATION\n(Exact name of registrant as specified in its charter)\n________________________________________\nDelaware 36-4215970\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n500 West Madison Street, Suite 2800\nChicago, Illinois 60661\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (312) 621-1950\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Common Stock, par value $.01 per share LKQ Securities registered pursuant to Section 12(g) of the Act: None\nName of each exchange on which registered\nThe Nasdaq Global Select Market\n________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and \"emerging growth company\" in\nRule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_key_financials",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 12'794m, net income 1'150m",
      "golden_context": "Page 63:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenue $ 12,794 $ 13,089 $ 11,629\nCost of goods sold 7,571 7,767 7,036\nGross margin 5,223 5,322 4,593\nSelling, general and administrative expenses 3,544 3,568 3,266\nRestructuring and transaction related expenses 20 20 66\n(Gain) on disposal of businesses and impairment of net assets held for sale (159) — 3\nDepreciation and amortization 237 260 272\nOperating income 1,581 1,474 986\nOther expense (income):\nInterest expense 78 72 104\nLoss on debt extinguishment — 24 13\nInterest income and other income, net (15) (21) (16)\nTotal other expense, net 63 75 101\nIncome from continuing operations before provision for income taxes 1,518 1,399 885\nProvision for income taxes 385 331 250\nEquity in earnings of unconsolidated subsidiaries 11 23 5\nIncome from continuing operations 1,144 1,091 640\nNet income from discontinued operations 6 1 —\nNet income 1,150 1,092 640\nLess: net income attributable to continuing noncontrolling interest 1 1 2\nNet income attributable to LKQ stockholders $ 1,149 $ 1,091 $ 638\nBasic earnings per share: (1)\nIncome from continuing operations $ 4.13 $ 3.68 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.15 3.68 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.15 $ 3.68 $ 2.10\nDiluted earnings per share: (1)\nIncome from continuing operations $ 4.12 $ 3.67 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.14 3.67 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.13 $ 3.66 $ 2.09\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\n\nPage 37:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2022 2021 2020\nRevenue 100.0 % 100.0 % 100.0 %\nCost of goods sold 59.2 % 59.3 % 60.5 %\nGross margin 40.8 % 40.7 % 39.5 %\nSelling, general and administrative expenses 27.7 % 27.3 % 28.1 %\nRestructuring and transaction related expenses 0.2 % 0.2 % 0.6 %\n(Gain) on disposal of businesses and impairment of net assets held for sale (1.2) % — % — %\nDepreciation and amortization 1.8 % 2.0 % 2.3 %\nOperating income 12.4 % 11.3 % 8.5 %\nTotal other expense, net 0.5 % 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 11.9 % 10.7 % 7.6 %\nProvision for income taxes 3.0 % 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.2 % — %\nIncome from continuing operations 8.9 % 8.3 % 5.5 %\nNet income from discontinued operations — % — % — %\nNet income 9.0 % 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest — % — % — %\nNet income attributable to LKQ stockholders 9.0 % 8.3 % 5.5 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nRevenue\nThe following table summarizes the changes in revenue by category (in millions):\nYear Ended December 31, Percentage Change in Revenue\n2022 2021 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 11,933 $ 12,141 5.0 % (1.2) % (5.5) % (1.7) %\nOther revenue 861 948 (7.5) % (1.3) % (0.4) % (9.2) %\nTotal revenue $ 12,794 $ 13,089 4.1 % (1.2) % (5.1) % (2.3) %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe decline in parts and services revenue of 1.7% represented decreases in segment revenue of 5.3% in Europe and 4.1% in\nSpecialty, partially offset by increases of 9.8% in Self Service and 4.2% in Wholesale - North America. This overall decrease\nwas driven by a 5.5% decrease due to fluctuations in foreign exchange rates and a 1.2% net reduction from divestitures. This\nwas partially offset by organic parts and services revenue growth of 5.0%, whi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_revenue",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenue: 12'794m",
      "golden_context": "Page 63:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenue $ 12,794 $ 13,089 $ 11,629\nCost of goods sold 7,571 7,767 7,036\nGross margin 5,223 5,322 4,593\nSelling, general and administrative expenses 3,544 3,568 3,266\nRestructuring and transaction related expenses 20 20 66\n(Gain) on disposal of businesses and impairment of net assets held for sale (159) — 3\nDepreciation and amortization 237 260 272\nOperating income 1,581 1,474 986\nOther expense (income):\nInterest expense 78 72 104\nLoss on debt extinguishment — 24 13\nInterest income and other income, net (15) (21) (16)\nTotal other expense, net 63 75 101\nIncome from continuing operations before provision for income taxes 1,518 1,399 885\nProvision for income taxes 385 331 250\nEquity in earnings of unconsolidated subsidiaries 11 23 5\nIncome from continuing operations 1,144 1,091 640\nNet income from discontinued operations 6 1 —\nNet income 1,150 1,092 640\nLess: net income attributable to continuing noncontrolling interest 1 1 2\nNet income attributable to LKQ stockholders $ 1,149 $ 1,091 $ 638\nBasic earnings per share: (1)\nIncome from continuing operations $ 4.13 $ 3.68 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.15 3.68 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.15 $ 3.68 $ 2.10\nDiluted earnings per share: (1)\nIncome from continuing operations $ 4.12 $ 3.67 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.14 3.67 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.13 $ 3.66 $ 2.09\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\n\nPage 37:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2022 2021 2020\nRevenue 100.0 % 100.0 % 100.0 %\nCost of goods sold 59.2 % 59.3 % 60.5 %\nGross margin 40.8 % 40.7 % 39.5 %\nSelling, general and administrative expenses 27.7 % 27.3 % 28.1 %\nRestructuring and transaction related expenses 0.2 % 0.2 % 0.6 %\n(Gain) on disposal of businesses and impairment of net assets held for sale (1.2) % — % — %\nDepreciation and amortization 1.8 % 2.0 % 2.3 %\nOperating income 12.4 % 11.3 % 8.5 %\nTotal other expense, net 0.5 % 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 11.9 % 10.7 % 7.6 %\nProvision for income taxes 3.0 % 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.2 % — %\nIncome from continuing operations 8.9 % 8.3 % 5.5 %\nNet income from discontinued operations — % — % — %\nNet income 9.0 % 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest — % — % — %\nNet income attributable to LKQ stockholders 9.0 % 8.3 % 5.5 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nRevenue\nThe following table summarizes the changes in revenue by category (in millions):\nYear Ended December 31, Percentage Change in Revenue\n2022 2021 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 11,933 $ 12,141 5.0 % (1.2) % (5.5) % (1.7) %\nOther revenue 861 948 (7.5) % (1.3) % (0.4) % (9.2) %\nTotal revenue $ 12,794 $ 13,089 4.1 % (1.2) % (5.1) % (2.3) %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe decline in parts and services revenue of 1.7% represented decreases in segment revenue of 5.3% in Europe and 4.1% in\nSpecialty, partially offset by increases of 9.8% in Self Service and 4.2% in Wholesale - North America. This overall decrease\nwas driven by a 5.5% decrease due to fluctuations in foreign exchange rates and a 1.2% net reduction from divestitures. This\nwas partially offset by organic parts and services revenue growth of 5.0%, whi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_revenue_growth",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 12'794m, prior year 13'089m",
      "golden_context": "Page 63:\n\nKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenue $ 12,794 $ 13,089 $ 11,629\nCost of goods sold 7,571 7,767 7,036\nGross margin 5,223 5,322 4,593\nSelling, general and administrative expenses 3,544 3,568 3,266\nRestructuring and transaction related expenses 20 20 66\n(Gain) on disposal of businesses and impairment of net assets held for sale (159) — 3\nDepreciation and amortization 237 260 272\nOperating income 1,581 1,474 986\nOther expense (income):\nInterest expense 78 72 104\nLoss on debt extinguishment — 24 13\nInterest income and other income, net (15) (21) (16)\nTotal other expense, net 63 75 101\nIncome from continuing operations before provision for income taxes 1,518 1,399 885\nProvision for income taxes 385 331 250\nEquity in earnings of unconsolidated subsidiaries 11 23 5\nIncome from continuing operations 1,144 1,091 640\nNet income from discontinued operations 6 1 —\nNet income 1,150 1,092 640\nLess: net income attributable to continuing noncontrolling interest 1 1 2\nNet income attributable to LKQ stockholders $ 1,149 $ 1,091 $ 638\nBasic earnings per share: (1)\nIncome from continuing operations $ 4.13 $ 3.68 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.15 3.68 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.15 $ 3.68 $ 2.10\nDiluted earnings per share: (1)\nIncome from continuing operations $ 4.12 $ 3.67 $ 2.10\nNet income from discontinued operations 0.02 — —\nNet income 4.14 3.67 2.10\nLess: net income attributable to continuing noncontrolling interest 0.01 — 0.01\nNet income attributable to LKQ stockholders $ 4.13 $ 3.66 $ 2.09\n(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.\n\nPage 37:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2022 2021 2020\nRevenue 100.0 % 100.0 % 100.0 %\nCost of goods sold 59.2 % 59.3 % 60.5 %\nGross margin 40.8 % 40.7 % 39.5 %\nSelling, general and administrative expenses 27.7 % 27.3 % 28.1 %\nRestructuring and transaction related expenses 0.2 % 0.2 % 0.6 %\n(Gain) on disposal of businesses and impairment of net assets held for sale (1.2) % — % — %\nDepreciation and amortization 1.8 % 2.0 % 2.3 %\nOperating income 12.4 % 11.3 % 8.5 %\nTotal other expense, net 0.5 % 0.6 % 0.9 %\nIncome from continuing operations before provision for income taxes 11.9 % 10.7 % 7.6 %\nProvision for income taxes 3.0 % 2.5 % 2.1 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.2 % — %\nIncome from continuing operations 8.9 % 8.3 % 5.5 %\nNet income from discontinued operations — % — % — %\nNet income 9.0 % 8.3 % 5.5 %\nLess: net income attributable to continuing noncontrolling interest — % — % — %\nNet income attributable to LKQ stockholders 9.0 % 8.3 % 5.5 %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nRevenue\nThe following table summarizes the changes in revenue by category (in millions):\nYear Ended December 31, Percentage Change in Revenue\n2022 2021 Organic\nAcquisition and\nDivestiture\nForeign\nExchange\nTotal\nChange\nParts & services revenue $ 11,933 $ 12,141 5.0 % (1.2) % (5.5) % (1.7) %\nOther revenue 861 948 (7.5) % (1.3) % (0.4) % (9.2) %\nTotal revenue $ 12,794 $ 13,089 4.1 % (1.2) % (5.1) % (2.3) %\nNote: In the table above, the sum of the individual percentages may not equal the total due to rounding.\nThe decline in parts and services revenue of 1.7% represented decreases in segment revenue of 5.3% in Europe and 4.1% in\nSpecialty, partially offset by increases of 9.8% in Self Service and 4.2% in Wholesale - North America. This overall decrease\nwas driven by a 5.5% decrease due to fluctuations in foreign exchange rates and a 1.2% net reduction from divestitures. This\nwas partially offset by organic parts and services revenue growth of 5.0%, whi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000131_segments",
      "report_id": "ID_000131",
      "company_name": "LKQ",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Wholesale - North America; Europe; Specialty; and Self Service, each of which\nis presented as a reportable segment. Beginning in 2022, the Wholesale - North America and Self Service operating segment\nresults were separated from the previous reportable segment, North America, and each of Wholesale - North America and Self\nService is now a separate reportable segment. ",
      "golden_context": "Page 4:\n\nWe are organized into four operating segments: Wholesale - North America; Europe; Specialty; and Self Service, each of which\nis presented as a reportable segment. Beginning in 2022, the Wholesale - North America and Self Service operating segment\nresults were separated from the previous reportable segment, North America, and each of Wholesale - North America and Self\nService is now a separate reportable segment. Segment results have been adjusted retrospectively to reflect this change. See\nNote 24, \"Segment and Geographic Information\" to the Consolidated Financial Statements in Part II, Item 8 of this Annual\nReport on Form 10-K for financial information by reportable segment and by geographic region.\nHISTORY\nWe were initially formed in 1998 through the combination of a numb",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_cash_flow",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1'356m, \nfree cash flow: 998m",
      "golden_context": "Page 52:\n\nThe following table reconciles Net Cash Provided by Operating Activities to Free Cash Flow (in millions):\nYear Ended December 31,\n2023 2022\nNet cash provided by operating activities $ 1,356 $ 1,250\nLess: purchases of property, plant and equipment 358 222\nFree cash flow $ 998 $ 1,028",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_company_type",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n————————————————————\nFORM 10-K\n————————————————————\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\n(Zip Code)\nName of each exchange on which registered\nThe Nasdaq Global Select Market\nFor the transition period from _______ to _______\nCommission File Number: 000-50404\n________________________________________\nLKQ CORPORATION\n(Exact name of registrant as specified in its charter)\n________________________________________\nDelaware 36-4215970\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n500 West Madison Street, Suite 2800\nChicago, Illinois 60661\n(Address of principal executive offices) Registrant’s telephone number, including area code: (312) 621-1950\nTitle of Each Class Common Stock, par value $.01 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) LKQ Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_key_financials",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue 13'866m, \noperating cash flow 1356m",
      "golden_context": "Page 61:\n\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenue $ 13,866 $ 12,794 $ 13,089\nCost of goods sold 8,291 7,571 7,767\nGross margin 5,575 5,223 5,322\nSelling, general and administrative expenses 3,870 3,544 3,568\nRestructuring and transaction related expenses 65 20 20\nGain on disposal of businesses (1)\n— (159) —\nDepreciation and amortization 283 237 260\nOperating income 1,357 1,581 1,474\nOther expense (income):\nInterest expense 214 78 72\nLoss on debt extinguishment 1 — 24\nGains on foreign exchange contracts - acquisition related (2) (49) — —\nInterest income and other income, net (44) (15) (21)\nTotal other expense, net 122 63 75\nIncome from continuing operations before provision for income taxes 1,235 1,518 1,399\nProvision for income taxes 306 385 331\nEquity in earnings of unconsolidated subsidiaries 15 11 23\nIncome from continuing operations 944 1,144 1,091\nNet (loss) income from discontinued operations (6) 6 Net income 938 1,150 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 Net income attributable to LKQ stockholders $ 936 $ 1,149 $ 1,091\nBasic earnings per share: (3)\nIncome from continuing operations $ 3.53 $ 4.13 $ 3.68\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.51 4.15 3.68\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.50 $ 4.15 $ 3.68\nDiluted earnings per share: (3)\nIncome from continuing operations $ 3.52 $ 4.12 $ 3.67\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.50 4.14 3.67\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.49 $ 4.13 $ 3.66\n1\n1\n(1) Primarily related to the sale of PGW Auto Glass (\"PGW\"). Refer to Note 4, \"Discontinued Operations and Divestitures\" for\nfurther information.\n(2) Related to the Uni-Select Inc. (\"Uni-Select\") acquisition. Refer to Note 3, \"Business Combinations\" and Note 20,\n\"Derivative Instruments and Hedging Activities\" for further information.\n(3) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n61\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Comprehensive Income\n(In millions)\nYear Ended December 31,\n2023 2022 2021\nNet income $ 938 $ 1,150 $ 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 1\nNet income attributable to LKQ stockholders 936 1,149 1,091\n\nPage 39:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2023 2022\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.8 % 59.2 %\nGross margin 40.2 % 40.8 %\nSelling, general and administrative expenses 27.9 % 27.7 %\nRestructuring and transaction related expenses 0.5 % 0.2 %\nGain on disposal of businesses — % (1.2) %\nDepreciation and amortization 2.0 % 1.8 %\nOperating income 9.8 % 12.4 %\nTotal other expense, net 0.9 % 0.5 %\nIncome from continuing operations before provision for income taxes 8.9 % 11.9 %\nProvision for income taxes 2.2 % 3.0 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.1 %\nIncome from continuing operations 6.8 % 8.9 %\nNet (loss) income from discontinued operations — % — %\nNet income 6.8 % 9.0 %\nLess: net income attributable to continuing noncontrolling interest — % — %\nNet income attributable to LKQ stockholders 6.7 % 9.0 %\n— % — % Note: In the table above, the sum of the individual percentages may not equal the total due to rounding.\n\nPage 51:\n\nhicles at auctions. Self Service salvage purchases in 2023 decreased relative to the prior year due to a focus on reducing car\ncost as car costs rose faster than commodity prices in late 2022 and early 2023.\nThe following table summarizes the components of the change in cash provided by operating activities (in millions):\nOperating Cash\nNet cash provided by operating activities for the year ended December 31, 2022 $ 1,250\nIncrease (decrease) due to:\nWorking capital accounts: (1)\nReceivables 21\nInventories 413\nAccounts payable (274)\nOther operating activities (54) (2)\nNet cash provided by operating activities for the year ended December 31, 2023 $ 1,356\n(1) Cash flows related to our primary working capital accounts can be volatile as the purchases, payments and collections can\nbe timed differently from period to period.\n• Receivables was a $21 million incremental cash inflow in 2023 primarily at our Wholesale - North America and\nEurope segments as a result of collections and timing of sales.\n• Inventories represented $413 million in incremental cash inflows for the year ended December 31, 2023 compared to\nthe same period of 2022, including $294 million in our Europe segment prim",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_revenue",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenue 13'866m",
      "golden_context": "Page 61:\n\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenue $ 13,866 $ 12,794 $ 13,089\nCost of goods sold 8,291 7,571 7,767\nGross margin 5,575 5,223 5,322\nSelling, general and administrative expenses 3,870 3,544 3,568\nRestructuring and transaction related expenses 65 20 20\nGain on disposal of businesses (1)\n— (159) —\nDepreciation and amortization 283 237 260\nOperating income 1,357 1,581 1,474\nOther expense (income):\nInterest expense 214 78 72\nLoss on debt extinguishment 1 — 24\nGains on foreign exchange contracts - acquisition related (2) (49) — —\nInterest income and other income, net (44) (15) (21)\nTotal other expense, net 122 63 75\nIncome from continuing operations before provision for income taxes 1,235 1,518 1,399\nProvision for income taxes 306 385 331\nEquity in earnings of unconsolidated subsidiaries 15 11 23\nIncome from continuing operations 944 1,144 1,091\nNet (loss) income from discontinued operations (6) 6 Net income 938 1,150 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 Net income attributable to LKQ stockholders $ 936 $ 1,149 $ 1,091\nBasic earnings per share: (3)\nIncome from continuing operations $ 3.53 $ 4.13 $ 3.68\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.51 4.15 3.68\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.50 $ 4.15 $ 3.68\nDiluted earnings per share: (3)\nIncome from continuing operations $ 3.52 $ 4.12 $ 3.67\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.50 4.14 3.67\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.49 $ 4.13 $ 3.66\n1\n1\n(1) Primarily related to the sale of PGW Auto Glass (\"PGW\"). Refer to Note 4, \"Discontinued Operations and Divestitures\" for\nfurther information.\n(2) Related to the Uni-Select Inc. (\"Uni-Select\") acquisition. Refer to Note 3, \"Business Combinations\" and Note 20,\n\"Derivative Instruments and Hedging Activities\" for further information.\n(3) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n61\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Comprehensive Income\n(In millions)\nYear Ended December 31,\n2023 2022 2021\nNet income $ 938 $ 1,150 $ 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 1\nNet income attributable to LKQ stockholders 936 1,149 1,091\n\nPage 39:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2023 2022\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.8 % 59.2 %\nGross margin 40.2 % 40.8 %\nSelling, general and administrative expenses 27.9 % 27.7 %\nRestructuring and transaction related expenses 0.5 % 0.2 %\nGain on disposal of businesses — % (1.2) %\nDepreciation and amortization 2.0 % 1.8 %\nOperating income 9.8 % 12.4 %\nTotal other expense, net 0.9 % 0.5 %\nIncome from continuing operations before provision for income taxes 8.9 % 11.9 %\nProvision for income taxes 2.2 % 3.0 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.1 %\nIncome from continuing operations 6.8 % 8.9 %\nNet (loss) income from discontinued operations — % — %\nNet income 6.8 % 9.0 %\nLess: net income attributable to continuing noncontrolling interest — % — %\nNet income attributable to LKQ stockholders 6.7 % 9.0 %\n— % — % Note: In the table above, the sum of the individual percentages may not equal the total due to rounding.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_revenue_growth",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 13'866m, prior year: 12'794m",
      "golden_context": "Page 61:\n\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Income\n(In millions, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenue $ 13,866 $ 12,794 $ 13,089\nCost of goods sold 8,291 7,571 7,767\nGross margin 5,575 5,223 5,322\nSelling, general and administrative expenses 3,870 3,544 3,568\nRestructuring and transaction related expenses 65 20 20\nGain on disposal of businesses (1)\n— (159) —\nDepreciation and amortization 283 237 260\nOperating income 1,357 1,581 1,474\nOther expense (income):\nInterest expense 214 78 72\nLoss on debt extinguishment 1 — 24\nGains on foreign exchange contracts - acquisition related (2) (49) — —\nInterest income and other income, net (44) (15) (21)\nTotal other expense, net 122 63 75\nIncome from continuing operations before provision for income taxes 1,235 1,518 1,399\nProvision for income taxes 306 385 331\nEquity in earnings of unconsolidated subsidiaries 15 11 23\nIncome from continuing operations 944 1,144 1,091\nNet (loss) income from discontinued operations (6) 6 Net income 938 1,150 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 Net income attributable to LKQ stockholders $ 936 $ 1,149 $ 1,091\nBasic earnings per share: (3)\nIncome from continuing operations $ 3.53 $ 4.13 $ 3.68\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.51 4.15 3.68\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.50 $ 4.15 $ 3.68\nDiluted earnings per share: (3)\nIncome from continuing operations $ 3.52 $ 4.12 $ 3.67\nNet (loss) income from discontinued operations (0.02) 0.02 —\nNet income 3.50 4.14 3.67\nLess: net income attributable to continuing noncontrolling interest 0.01 0.01 —\nNet income attributable to LKQ stockholders $ 3.49 $ 4.13 $ 3.66\n1\n1\n(1) Primarily related to the sale of PGW Auto Glass (\"PGW\"). Refer to Note 4, \"Discontinued Operations and Divestitures\" for\nfurther information.\n(2) Related to the Uni-Select Inc. (\"Uni-Select\") acquisition. Refer to Note 3, \"Business Combinations\" and Note 20,\n\"Derivative Instruments and Hedging Activities\" for further information.\n(3) The sum of the individual earnings per share amounts may not equal the total due to rounding.\nThe accompanying notes are an integral part of the Consolidated Financial Statements.\n61\nLKQ CORPORATION AND SUBSIDIARIES\nConsolidated Statements of Comprehensive Income\n(In millions)\nYear Ended December 31,\n2023 2022 2021\nNet income $ 938 $ 1,150 $ 1,092\nLess: net income attributable to continuing noncontrolling interest 2 1 1\nNet income attributable to LKQ stockholders 936 1,149 1,091\n\nPage 39:\n\nResults of Operations—Consolidated\nThe following table sets forth statements of income data as a percentage of total revenue for the periods indicated:\nYear Ended December 31,\n2023 2022\nRevenue 100.0 % 100.0 %\nCost of goods sold 59.8 % 59.2 %\nGross margin 40.2 % 40.8 %\nSelling, general and administrative expenses 27.9 % 27.7 %\nRestructuring and transaction related expenses 0.5 % 0.2 %\nGain on disposal of businesses — % (1.2) %\nDepreciation and amortization 2.0 % 1.8 %\nOperating income 9.8 % 12.4 %\nTotal other expense, net 0.9 % 0.5 %\nIncome from continuing operations before provision for income taxes 8.9 % 11.9 %\nProvision for income taxes 2.2 % 3.0 %\nEquity in earnings of unconsolidated subsidiaries 0.1 % 0.1 %\nIncome from continuing operations 6.8 % 8.9 %\nNet (loss) income from discontinued operations — % — %\nNet income 6.8 % 9.0 %\nLess: net income attributable to continuing noncontrolling interest — % — %\nNet income attributable to LKQ stockholders 6.7 % 9.0 %\n— % — % Note: In the table above, the sum of the individual percentages may not equal the total due to rounding.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000132_segments",
      "report_id": "ID_000132",
      "company_name": "LKQ",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Wholesale - North America; Europe; Specialty; and Self Service, ",
      "golden_context": "Page 3:\n\nITEM 1. BUSINESS\nOVERVIEW\nLKQ Corporation (\"LKQ,\" the \"Company\" or \"we\"), a member of the Standard & Poor's 500 Stock Index (\"S&P 500 Index\"),\nis a global distributor of vehicle products, including replacement parts, components and systems used in the repair and\nmaintenance of vehicles, and specialty aftermarket products and accessories to improve the performance, functionality and\nappearance of vehicles.\nBuyers of vehicle replacement products have the option to purchase from primarily five sources: new products produced by\noriginal equipment manufacturers (\"OEMs\"); new products produced by companies other than the OEMs, which are referred to\nas aftermarket products; recycled products obtained from salvage and total loss vehicles; recycled products that have been\nrefurbished; and recycled products that have been remanufactured. We distribute a variety of products to collision and\nmechanical repair shops, including aftermarket collision and mechanical products; recycled collision and mechanical products;\nrefurbished collision products such as wheels, bumper covers and lights; and remanufactured engines and transmissions.\nCollectively, we refer to the four sources that are not new OEM products as alternative parts.\nOur Wholesale - North America segment is a leading provider of alternative vehicle collision replacement products, paint and\nrelated products, and alternative vehicle mechanical replacement products, with our sales, processing, and distribution facilities\nreaching most major markets in the United States and Canada. Our Europe segment is a leading provider of alternative vehicle\nreplacement and maintenance products in Germany, the United Kingdom (\"U.K.\"), the Benelux region (Belgium, Netherlands,\nand Luxembourg), Italy, Czech Republic, Austria, Slovakia, Poland, and various other European countries. Our Specialty\nsegment is a leading distributor of specialty vehicle aftermarket equipment and accessories reaching most major markets in the\nU.S. and Canada. Our Self Service segment operates self service retail facilities across the U.S. that sell recycled automotive\nproducts from end-of-life-vehicles.\n\nPage 4:\n\nWe are organized into four operating segments: Wholesale - North America; Europe; Specialty; and Self Service, each of which\nis presented as a reportable segment. See Note 25, \"Segment and Geographic Information\" to the Consolidated Financial\nStatements in Part II, Item 8 of this Annual Report on Form 10-K for financial information by reportable segment and by\ngeographic region.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_cash_flow",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 411'156k, investing: -817'287k, financing: -102'970k",
      "golden_context": "Page 46:\n\n acquisitions, and other general corporate purposes. As we continue to expand our\nbusiness, we may require additional capital to fund working capital, capital expenditures or acquisitions.\nCash Flow\nYear ended December 31, 2021 compared to year ended December 31, 2020\nThe following table summarizes our cash flows by category for the periods presented:\n(U.S. Dollars in thousands) Net cash provided by operating activities . . . . . . . . . . . . . Net cash used in investing activities . . Net cash used in financing activities . . . . . . . . . . . . . . . . The decrease in net cash provided by operating activities was primarily due to increased working\ncapital investment and higher income taxes paid in the current year, partially offset by higher sales volumes\nand resulting higher operating earnings in the current year. The higher working capital investment was\nprimarily driven by further elevated inventory levels at the end of the year resulting from extended logistics in-\ntransit times, ongoing supply chain constraints, increasing production rates and continued investments in\nthe ramping of our new manufacturing facility in Trenton, SC.\nNet cash used in investing activities for the year ended December 31, 2021 primarily consisted of cash\npayments of $713.5 million related to the acquisition of businesses and $110.0 million for the purchase of\nproperty and equipment, which were partially offset by cash proceeds on sale of an investment of $5.0 million.\nNet cash used in investing activities for the year ended December 31, 2020 primarily consisted of cash\npayments of $64.8 million related to the acquisition of businesses and $62.1 million for the purchase of\nproperty and equipment.\nNet cash used in financing activities for the year ended December 31, 2021 primarily consisted of\n$347.7 million of debt repayments ($239.1 million of short-term borrowings and $108.6 million of long-term\nborrowings), $126.0 million of stock repurchases, $58.9 million of taxes paid related to equity awards,\n$27.2 million as a purchase of additional ownership interest of PR Industrial S.r.l. and its subsidiaries\n(Pramac), and $3.8 million of contingent co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_company_type",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-34627\nGENERAC HOLDINGS INC.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n20-5654756\n(IRS Employer Identification No.)\nS45 W29290 Hwy 59, Waukesha, WI\n(Address of principal executive offices)\n53189\n(Zip Code)\n(262) 544-4811\n(Registrant’s telephone number, including area code)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTrading Symbol(s) Title of each class Common Stock, $0.01 par value GNRC Name of each exchange on which registered\nNew York Stock Exchange\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒ No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_key_financials",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues inreased by 1.3bn, 50% growth, EBITDA margin 23.1%",
      "golden_context": "Page 3:\n\nDear Shareholders,\nI want to begin by thanking Generac’s team of over 9,500 employees globally for their hard work and perseverance throughout\na very challenging operating environment in 2021. Our teams have helped us successfully navigate the pandemic while still\nproviding an incredible level of service to customers and partners around the world. The hyper-scale growth that we are\nexperiencing is a reflection of their commitment to the execution of our strategy and their dedication to our success.\nAs a result of our team’s collective efforts, Generac achieved another year of record revenue, adjusted EBITDA, and adjusted EPS\nin 2021, far exceeding the previous record levels seen last year. Revenue increased by approximately $1.3 billion, representing\n50% growth over the prior year and marking the highest annual growth rate in our history as a public company. Adjusted EBITDA\nmargin was strong at 23.1%, which was similar to the prior year despite a variety of supply chain challenges, considerable\ninflationary headwinds, and significant investments for future growth.\nKey Strategic Accomplishments\nIn addition to our operational execution and strong financial performance, we achieved a number of key accomplishments and\nmade significant progress on several strategic initiatives in 2021 that position the Company for success in the years ahead. In\nthe third quarter, we began production of home standby generators at our newest facility in Trenton, South Carolina, and have\ncontinued to make excellent progress in ramping production levels at this new facility as well as at our existing facilities in\nWisconsin. The further build out of our Clean Energy market opportunity was also a key highlight during the year as shipments of\nour PWRcell energy storage systems grew significantly as we expanded our supply chain and distribution, increased our targeted\nmarketing efforts, and introduced a number of exciting new products. We also broadened our energy technology solutions\nportfolio with the strategic acquisitions of Deep Sea Electronics, Chilicon Power, Apricity, Off Grid Energy, Tank Utility, and ecobee.\n2021 was a very strong year for new product introductions across the business. We introduced our market-leading 26kW air-\ncooled home standby generator, a Generac-branded microinverter that we call PWRmicro, the industry’s first dedicated engine-\ndriven battery charging system we call PWRgenerator, and our innovative PWRmanager load control device. In addition, we also\nlaunched a number of new commercial and industrial (C&I) products, including a hybrid mobile power solution, a mobile battery-\npowered light tower, and our first C&I mobile battery storage system for the North American market. We also announced Smart\nGrid Ready capabilities for our home standby generators, PWRcell energy storage systems, and natural gas C&I generators.\nNew ‘Powering A Smarter World’ Enterprise Strategy\nDuring our 2021 Investor Day in September, we debuted our new enterprise strategy and purpose statement which reflect the\ntremendous progress we have made in evolving the business into an energy technology solutions company. We call our new\nenterprise strategy ‘Powering a Smarter World’, which focuses on improving energy resilience and independence, optimizing\nenergy efficiency and consumption, and protecting and building critical infrastructure. This new strategy is closely linked to\nGenerac’s new purpose statement, “Leading the evolution to more resilient, efficient, and sustainable energy solutions.” We also\npublished our inaugural Environmental, Social and Governance (ESG) report, highlighting the alignment of our new strategy and\npurpose to key ESG related frameworks and standards.\nAs we execute against our strategic plan, we are fo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_revenue",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 3'737'184k",
      "golden_context": "Page 43:\n\nesults of Operations\nA detailed discussion of the year-over-year changes from the Company’s fiscal 2019 to fiscal 2020 can\nbe found in the Management’s Discussion and Analysis section of the Company’s fiscal 2020 Annual Report\non Form 10-K filed February 23, 2021.\nYear ended December 31, 2021 compared to year ended December 31, 2020\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\nYear Ended December 31,\n2021 2020 $ Change % Change\n. $3,737,184 $2,485,200 $1,251,984 50.4%\n. 2,377,102 1,527,546 849,556 55.6%\n. 1,360,082 957,654 402,428 42.0%\n.\n. 319,020 246,373 72,647 29.5%\n. 104,303 80,251 24,052 30.0%\n. 144,272 118,233 26,039 22.0%\n. 21,465 1,411 20,054 1421.3%\n. 49,886 32,280 17,606 54.5%\n. 638,946 478,548 160,398 33.5%\n. 721,136 479,106 242,030 50.5%\n. (29,610) (32,915) 3,305 -10.0%\n. 691,526 446,191 245,335 55.0%\n. 134,957 98,973 35,984 36.4%\n. 556,569 347,218 209,351 60.3%\n. 6,075 (3,358) 9,433 -280.9%\n(U.S. Dollars in thousands) Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating expenses: . . . . . . . . . . . . . . . . . . . . . . . . Selling and service . . . . . . . . . . . . . . . . . . . . . . . . Research and development . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . Acquisition related costs . . . . . . . . . . . . . . . . . . . Amortization of intangible assets . . . . . . . . . . . . . Total operating expenses . . . . . . . . . . . . . . . . . . . . . Income from operations . . . . . . . . . . . . . . . . . . . . . Total other expense, net . . . . . . . . . . . . . . . . . . . . . . Income before provision for income taxes . . . . . . . . . Provision for income taxes . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interests . . Net income attributable to Generac Holdings Inc. . . . . $ 550,494 $ 350,576 $ 199,918 57.0%\nThe following sets forth our reportable segment information for the periods indicated:\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Sales by Segment\nYear Ended December 31,\n2021 2020 $ Change % Change\n$3,164,050 $2,088,808 $1,075,242 573,134 396,392 176,742 $3,737,184 $2,485,200 $1,251,984 51.5%\n44.6%\n50.4%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_revenue_growth",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 3'737'184k, prior year: 2'485'200k",
      "golden_context": "Page 43:\n\nesults of Operations\nA detailed discussion of the year-over-year changes from the Company’s fiscal 2019 to fiscal 2020 can\nbe found in the Management’s Discussion and Analysis section of the Company’s fiscal 2020 Annual Report\non Form 10-K filed February 23, 2021.\nYear ended December 31, 2021 compared to year ended December 31, 2020\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\nYear Ended December 31,\n2021 2020 $ Change % Change\n. $3,737,184 $2,485,200 $1,251,984 50.4%\n. 2,377,102 1,527,546 849,556 55.6%\n. 1,360,082 957,654 402,428 42.0%\n.\n. 319,020 246,373 72,647 29.5%\n. 104,303 80,251 24,052 30.0%\n. 144,272 118,233 26,039 22.0%\n. 21,465 1,411 20,054 1421.3%\n. 49,886 32,280 17,606 54.5%\n. 638,946 478,548 160,398 33.5%\n. 721,136 479,106 242,030 50.5%\n. (29,610) (32,915) 3,305 -10.0%\n. 691,526 446,191 245,335 55.0%\n. 134,957 98,973 35,984 36.4%\n. 556,569 347,218 209,351 60.3%\n. 6,075 (3,358) 9,433 -280.9%\n(U.S. Dollars in thousands) Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating expenses: . . . . . . . . . . . . . . . . . . . . . . . . Selling and service . . . . . . . . . . . . . . . . . . . . . . . . Research and development . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . Acquisition related costs . . . . . . . . . . . . . . . . . . . Amortization of intangible assets . . . . . . . . . . . . . Total operating expenses . . . . . . . . . . . . . . . . . . . . . Income from operations . . . . . . . . . . . . . . . . . . . . . Total other expense, net . . . . . . . . . . . . . . . . . . . . . . Income before provision for income taxes . . . . . . . . . Provision for income taxes . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interests . . Net income attributable to Generac Holdings Inc. . . . . $ 550,494 $ 350,576 $ 199,918 57.0%\nThe following sets forth our reportable segment information for the periods indicated:\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Sales by Segment\nYear Ended December 31,\n2021 2020 $ Change % Change\n$3,164,050 $2,088,808 $1,075,242 573,134 396,392 176,742 $3,737,184 $2,485,200 $1,251,984 51.5%\n44.6%\n50.4%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000136_segments",
      "report_id": "ID_000136",
      "company_name": "Generac Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 80:\n\nSegment Reporting\nThe Company has two reportable segments for financial reporting purposes — Domestic and\nInternational. The Domestic segment includes the legacy Generac business (excluding its traditional Latin\nAmerican export operations), and the acquisitions that are based in the U.S. and Canada, all of which have\nrevenues substantially derived from the U.S. and Canada. The International segment includes the legacy\nGenerac business’ Latin American export operations, and the Ottomotores, Tower Light, Pramac, Motortech,\nSelmec, Deep Sea, and Off Grid Energy acquisitions, all of which have revenues substantially derived from\noutside the U.S and Canada. Both reportable segments design and manufacture a wide range of energy\ntechnology solutions and other power products. The Company has multiple operating segments, which it\naggregates into the two reportable segments, based on materially similar economic characteristics, products\nand solutions, production processes, classes of customers, distribution methods and regional considerations.\nThe Company’s product offerings consist primarily of power generation equipment, energy storage\nsystems, grid service solutions, and other power products geared for varying end customer uses. Residential\nproducts and C&I products are each a similar class of products based on similar power output and end\ncustomer. The breakout of net sales between residential, C&I, and other products by reportable segment is\nas follows:\nNet Sales by Segment\nProduct Classes Residential products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Commercial & industrial products . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Product Classes Residential products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Commercial & industrial products . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Year Ended December 31, 2021\nDomestic International Total\n$2,366,908 $ 89,857 $2,456,765\n556,520 442,478 998,998\n240,622 40,799 281,421\n$3,164,050 $573,134 $3,737,184\nYear Ended December 31, 2020\nDomestic International Total\n$1,495,383 $ 61,118 $1,556,501\n404,867 296,884 701,751\n188,558 38,390 226,948\n$2,088,808 $396,392 $2,485,200\nYear Ended December 31, 2019\nDomestic International Total\n$1,086,019 $ 57,704 $1,143,723\n513,482 358,113 871,595\n143,397 45,621 189,018\n$1,742,898 $461,438 $2,204,336\nProduct Classes Residential products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Commercial & industrial products . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Residential products consist primarily of automatic home standby generators ranging in output from\n7.5kW to 150kW, portable generators, energy storage systems, energy management solutions, and other\noutdoor power equipment. These products are predominantly sold through indepen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_cash_flow",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 58'516k, investing: -134'232, financing: 64'043k",
      "golden_context": "Page 49:\n\nWe have an arrangement with a finance company to provide floor plan financing for selected dealers.\nThis arrangement provides liquidity for our dealers by financing dealer purchases of products with credit\navailability from the finance company. We receive payment from the finance company after shipment of\nproduct to the dealer, and our dealers are given a longer period of time to pay the finance company. If our\ndealers do not pay the finance company, we may be required to repurchase the applicable inventory held\nby the dealer. We do not indemnify the finance company for any credit losses they may incur. Total dealer\npurchases financed under this arrangement accounted for approximately 15% of net sales for the years ended\nDecember 31, 2022 and 2021. The amount financed by dealers which remained outstanding was\n$212.2 million and $115.9 million as of December 31, 2022 and 2021, respectively.\nLong-term Liquidity\nWe believe that our cash and cash equivalents, cash flow from operations, and availability under our\nRevolving Facility and other short-term lines of credit will provide us with sufficient capital to continue to\ngrow our business in the future. We may use a portion of our cash flow to pay principal on our outstanding\ndebt, as well as repurchase shares of our common stock, impacting the amount available for working\ncapital, capital expenditures, acquisitions, and other general corporate purposes. As we continue to expand\nour business, we may require additional capital to fund working capital, capital expenditures or acquisitions.\nCash Flow\nYear ended December 31, 2022 compared to year ended December 31, 2021\nThe following table summarizes our cash flows by source (use) for the periods presented:\n(U.S. Dollars in thousands) Net cash provided by (used in) financing activities . . . . . . 64,043 (102,970) 167,013 -162.2%\nThe decrease in net cash provided by operating activities primarily reflects increased working capital\ninvestment as well as lower operating earnings in the current year period. The higher working capital\ninvestment was primarily driven by higher inventory levels at the end of the current year.\nNet cash used in investing activities for the year ended December 31, 2022 primarily consisted of cash\npayments of $86.2 million for the purchase of property and equipment, $25.1 million related to the\nacquisition of businesses, $15.0 million investment in WATT Fuel Cell Corporation, and $14.9 million for\ncontributions to an equity method investment, which were partially offset by cash proceeds from the sale of\nan investment of $1.3 million. Net cash used in investing activities for the year ended December 31, 2021\nprimarily consisted of cash payments of $713.5 million related to the acquisition of businesses and\n$110.0 million for the purchase of property and equipment, which were partially offset by cash proceeds of\n$5.0 million from the sale of an investment.\nNet cash provided by financing activities for the year ended December 31, 2022 primarily includes\nproceeds of $1,026.3 million from long-term borrowings, $248.2 million from short-term borrowings, and\n$13.8 million from the exercise of stock options. These cash proceeds were partially offset by $810.3 million\nof debt repayments ($268.1 million of short-term borrowings and $542.2 million of long-term borrowings\nand finance lease obligations), $345.8 million of stock repurchases, $40.9 million of taxes paid related to\nequity awards, $16.1 million of contingent consideration for acquired businesses, and $10.3 million for\npayment of debt issuance costs.\nYear Ended December 31,\n2022 2021 $ Change % Change\nNet cash provided by operating activities . . . . . . . . . . . . . $ 58,516 $ 411,156 $(352,640) -85.8%\nNet cash used in investing activities . . . . . . . . . . . . . . . . . (134,232) (817,287) 683,055 -83.6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_company_type",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-34627\nGENERAC HOLDINGS INC.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n20-5654756\n(IRS Employer Identification No.)\nS45 W29290 Hwy 59, Waukesha, WI\n(Address of principal executive offices)\n53189\n(Zip Code)\nTitle of each class (262) 544-4811\n(Registrant’s telephone number, including area code)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTrading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value GNRC New York Stock Exchange\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Non-accelerated filer ☐ Accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm\nthat prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the voting common equity held by non-affiliates of the registrant on June 30, 2022, the last ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_key_financials",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 4.6bn",
      "golden_context": "Page 2:\n\nAB OUT GENER AC\n•\n•\n•\n•\n•\n•\n•\n•\nFounded in 1959\nA leading energy technology company that provides\nbackup and prime power systems for home and\nindustrial applications, solar + battery storage\nsolutions, smart home energy management devices\nand energy services, advanced power grid software\nplatforms and engine- and battery-powered tools\nand equipment.\nPowering A Smarter World enterprise strategy\nis focused on improving energy resilience and\nindependence, optimizing energy efficiency and\nconsumption, and protecting and building critical\ninfrastructure\n2022 Net Sales $4.6 Billion – 64% Residential, 28%\nCommercial & Industrial, 8% Other\nApproximately 9,500 employees as of 12/31/2022\nDoing business in over 150 countries\nApproximately 1,000 engineers worldwide\nOmni Channel Distribution approach with\nthousands of dealers, wholesalers, retailers and\ne-commerce partners",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_revenue",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 4.6bn",
      "golden_context": "Page 2:\n\nAB OUT GENER AC\n•\n•\n•\n•\n•\n•\n•\n•\nFounded in 1959\nA leading energy technology company that provides\nbackup and prime power systems for home and\nindustrial applications, solar + battery storage\nsolutions, smart home energy management devices\nand energy services, advanced power grid software\nplatforms and engine- and battery-powered tools\nand equipment.\nPowering A Smarter World enterprise strategy\nis focused on improving energy resilience and\nindependence, optimizing energy efficiency and\nconsumption, and protecting and building critical\ninfrastructure\n2022 Net Sales $4.6 Billion – 64% Residential, 28%\nCommercial & Industrial, 8% Other\nApproximately 9,500 employees as of 12/31/2022\nDoing business in over 150 countries\nApproximately 1,000 engineers worldwide\nOmni Channel Distribution approach with\nthousands of dealers, wholesalers, retailers and\ne-commerce partners\n\nPage 45:\n\nOther (Expense) Income\nOther (expense) income includes the interest expense on our outstanding borrowings, amortization of\ndebt financing costs and original issue discount, and interest accretion on contingent acquisition\nconsideration. Other (expense) income also includes other financial items such as losses on extinguishment\nof debt, investment income earned on our cash and cash equivalents, and gains/losses on the sale of certain\ninvestments.\nResults of Operations\nA detailed discussion of the year-over-year changes from the Company’s fiscal 2020 to fiscal 2021 can\nbe found in the Management’s Discussion and Analysis section of the Company’s fiscal 2021 Annual Report\non Form 10-K filed February 22, 2022.\nYear ended December 31, 2022 compared to year ended December 31, 2021\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n(U.S. Dollars in thousands) Year Ended December 31,\n2022 2021 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,564,737 $3,737,184 827,553 22.1%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,042,733 2,377,102 665,631 28.0%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,522,004 1,360,082 161,922 11.9%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . . 496,260 319,020 177,240 55.6%\nResearch and development . . . . . . . . . . . . . . . . . . . . 159,774 104,303 55,471 53.2%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . . 194,861 144,272 50,589 35.1%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . . 1,459 21,465 (20,006) -93.2%\nAmortization of intangible assets . . . . . . . . . . . . . . . . 103,320 49,886 53,434 107.1%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 955,674 638,946 316,728 49.6%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . . 566,330 721,136 (154,806) -21.5%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . . (57,864) (29,610) (28,254) 95.4%\nIncome before provision for income taxes . . . . . . . . . . . . 508,466 691,526 (183,060) -26.5%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . . 99,596 134,957 (35,361) -26.2%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 408,870 556,569 (147,699) -26.5%\nNet income attributable to noncontrolling interests . . . . . 9,368 6,075 3,293 54.2%\nNet income attributable to Generac Holdings Inc. . . . . . . $ 399,502 $ 550,494 (150,992) -27.4%\n-26.2%\nThe following sets forth our reportable segment information for the periods indicated:\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Sales by Reportable\nSegment\nYear Ended December 31,\n2022 2021 $ Change % Change\n$3,867,866 $3,164,050 $703,816 696,871 573,134 123,737 $4,564,737 $3,737,184 $827,553 22.2%\n21.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_revenue_growth",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 4.6bn, prior year 3.7bn",
      "golden_context": "Page 2:\n\nAB OUT GENER AC\n•\n•\n•\n•\n•\n•\n•\n•\nFounded in 1959\nA leading energy technology company that provides\nbackup and prime power systems for home and\nindustrial applications, solar + battery storage\nsolutions, smart home energy management devices\nand energy services, advanced power grid software\nplatforms and engine- and battery-powered tools\nand equipment.\nPowering A Smarter World enterprise strategy\nis focused on improving energy resilience and\nindependence, optimizing energy efficiency and\nconsumption, and protecting and building critical\ninfrastructure\n2022 Net Sales $4.6 Billion – 64% Residential, 28%\nCommercial & Industrial, 8% Other\nApproximately 9,500 employees as of 12/31/2022\nDoing business in over 150 countries\nApproximately 1,000 engineers worldwide\nOmni Channel Distribution approach with\nthousands of dealers, wholesalers, retailers and\ne-commerce partners\n\nPage 45:\n\nOther (Expense) Income\nOther (expense) income includes the interest expense on our outstanding borrowings, amortization of\ndebt financing costs and original issue discount, and interest accretion on contingent acquisition\nconsideration. Other (expense) income also includes other financial items such as losses on extinguishment\nof debt, investment income earned on our cash and cash equivalents, and gains/losses on the sale of certain\ninvestments.\nResults of Operations\nA detailed discussion of the year-over-year changes from the Company’s fiscal 2020 to fiscal 2021 can\nbe found in the Management’s Discussion and Analysis section of the Company’s fiscal 2021 Annual Report\non Form 10-K filed February 22, 2022.\nYear ended December 31, 2022 compared to year ended December 31, 2021\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n(U.S. Dollars in thousands) Year Ended December 31,\n2022 2021 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,564,737 $3,737,184 827,553 22.1%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,042,733 2,377,102 665,631 28.0%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,522,004 1,360,082 161,922 11.9%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . . 496,260 319,020 177,240 55.6%\nResearch and development . . . . . . . . . . . . . . . . . . . . 159,774 104,303 55,471 53.2%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . . 194,861 144,272 50,589 35.1%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . . 1,459 21,465 (20,006) -93.2%\nAmortization of intangible assets . . . . . . . . . . . . . . . . 103,320 49,886 53,434 107.1%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 955,674 638,946 316,728 49.6%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . . 566,330 721,136 (154,806) -21.5%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . . (57,864) (29,610) (28,254) 95.4%\nIncome before provision for income taxes . . . . . . . . . . . . 508,466 691,526 (183,060) -26.5%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . . 99,596 134,957 (35,361) -26.2%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 408,870 556,569 (147,699) -26.5%\nNet income attributable to noncontrolling interests . . . . . 9,368 6,075 3,293 54.2%\nNet income attributable to Generac Holdings Inc. . . . . . . $ 399,502 $ 550,494 (150,992) -27.4%\n-26.2%\nThe following sets forth our reportable segment information for the periods indicated:\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Sales by Reportable\nSegment\nYear Ended December 31,\n2022 2021 $ Change % Change\n$3,867,866 $3,164,050 $703,816 696,871 573,134 123,737 $4,564,737 $3,737,184 $827,553 22.2%\n21.6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000137_segments",
      "report_id": "ID_000137",
      "company_name": "Generac Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 46:\n\nhe increase in Domestic segment sales for the year ended December 31, 2022 was\nprimarily driven by growth in residential product sales, highlighted by a robust increase in home standby\ngenerator shipments in the first three quarters of the year. Home standby generator sales decreased in the\nfourth quarter compared to the prior year due to higher field inventories and lower home standby generator\norders from our channel partners given installation capacity constraints in our distribution network. In\naddition, sales of clean energy products declined compared to the prior year in the second half of 2022 due\nto the loss of a key customer that filed for bankruptcy. C&I product sales also grew at a robust rate\nduring the year with strength across all channels, including national rental equipment, telecom, and industrial\ndistribution customers.\nThe increase in International segment sales for the year ended December 31, 2022 was driven by strong\ngrowth across all major regions as compared to the prior year, most notably in Europe and Latin America.\nThis was partially offset by unfavorable foreign exchange impacts of approximately $43 million.\nIn addition, total contribution from non-annualized acquisitions for the year ended December 31, 2022\nwas $271.6 million, including $213.7 million for the domestic segment and $57.9 million for the international\nsegment.\nGross profit. Gross profit margin for the year ended December 31, 2022 was 33.3% compared to\n36.4% for the year ended December 31, 2021. The gross profit margin decrease was primarily driven by\nhigher input costs resulting from supply chain challenges and the overall inflationary environment. These\nhigher costs were partially offset by favorable price realization of previously implemented pricing actions.\nOperating expenses. Operating expenses increased $316.7 million, or 49.6%, as compared to the prior\nyear. The increase includes pre-tax charges comprised of $17.9 million of provision for a credit loss related\nto a clean energy product customer that filed for bankruptcy, and $37.3 million of provision for clean energy\nproduct warranty-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_cash_flow",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 521m, investing: -178m, -277m",
      "golden_context": "Page 53:\n\ncorporate purposes. As we continue to expand our business, we may require additional capital to fund other\nshareholder value enhancing activities.\nCash Flow\nYear ended December 31, 2023 compared to year ended December 31, 2022\nThe following table summarizes our cash flows by source (use) for the periods presented:\n(U.S. Dollars in thousands) Net cash provided by operating activities . . . . . . . . . . . . . Net cash used in investing activities . . . . . . . . . . . . . . . . . $ Change % Change\n$ 463,154 791.5%\n(43,831) -32.7%\nThe increase in net cash provided by operating activities primarily represents a significantly lower\ninvestment in working capital as compared to the prior year, partially offset by lower operating earnings.\nNet cash used in investing activities for the year ended December 31, 2023 primarily consisted of cash\npayments of $129.1 million for the purchase of property and equipment (net of $10.9 million of capital\nexpenditures in accounts payable at December 31, 2023), $30.0 million for a minority investment in Wallbox,\n$16.0 million for the acquisition of REFU, $6.6 million for a tax equity investment, and a $2.6 million\nminority investment in Rolling Energy Resources and Earth Foundry.\nNet cash used in investing activities for the year ended December 31, 2022 primarily consisted of cash\npayments of $86.2 million for the purchase of property and equipment (net of $7.7 million of capital\nexpenditures in accounts payable at December 31, 2022), $25.1 million for business acquisitions, $15.0 million\ninvestment in WATT Fuel Cell Corporation, and $14.9 million for contributions to a tax equity investment,\nwhich were partially offset by cash proceeds from the sale of an investment for $1.3 million.\nNet cash provided by financing activities for the year ended December 31, 2023 primarily represents\nproceeds of $348.8 million from long-term borrowings, $64.3 million from short-term borrowings, and\n$7.8 million from the exercise of stock options. These cash proceeds were more than offset by $104.8 million\nin cash payments used to purchase the remaining ownership interest in Pramac, $251.5 million used for\nstock repurchases, $325.8 million of debt repayments ($37.1 million of short-term borrowings and\n$288.7 million of long-term borrowings and finance lease obligations), $10.9 million of taxes paid related to\nequity awards, and $5.0 million for payment of contingent acquisition consideration.\nNet cash provided by financing activities for the year ended December 31, 2022 primarily includes\nproceeds of $1,026.3 million from long-term borrowings, $248.2 million from short-term borrowings, and\n$13.8 million from the exercise of stock options. These cash proceeds were partially offset by $810.3 million\nof debt repayments ($268.1 million of short-term borrowings and $542.2 million of long-term borrowings\nand finance lease obligations), $345.8 million of stock repurchases, $40.9 million of taxes paid related to\nequity awards, $16.1 million of contingent acquisition consideration, and $10.3 million for debt issuance\ncosts.\nSenior Secured Credit Facilities\nRefer to Note 12, “Credit Agreements,” to the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_company_type",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-34627\nGENERAC HOLDINGS INC.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n20-5654756\n(IRS Employer Identification No.)\nS45 W29290 Hwy 59, Waukesha, WI\n(Address of principal executive offices)\n53189\n(Zip Code)\nTitle of each class (262) 544-4811\n(Registrant’s telephone number, including area code)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTrading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value GNRC New York Stock Exchange\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company\nor an emerging growth company. See the definitions of “large accelerat",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_key_financials",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 4bn, net income 217'120k",
      "golden_context": "Page 2:\n\nABOUT GENERAC\n• Founded in 1959\n• A leading energy technology company that provides backup and prime\npower products and energy storage systems for home and commercial\n& industrial applications, energy monitoring & management devices and\nservices, and other engine & battery powered tools and equipment.\n• Powering A Smarter World enterprise strategy is focused on improving\nenergy resilience and independence, optimizing energy efficiency and\nconsumption, and protecting and building critical infrastructure\n• 2023 Net Sales $4.0 Billion – 51% Residential, 37% Commercial &\nIndustrial, 12% Other\n• Approximately 8,600 employees as of 12/31/2023\n• Doing business in over 150 countries\n• Approximately 1,100 engineers worldwide\n• Omni Channel Distribution approach with thousands of dealers,\nwholesalers, retailers and e-commerce partners\n\nPage 49:\n\near ended December 31, 2023 compared to year ended December 31, 2022\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n-12.7%\n(U.S. Dollars in thousands) Year Ended December 31,\n2023 2022 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,022,667 $4,564,737 $(542,070) -11.9%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,657,236 3,042,733 (385,497) -12.7%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,365,431 1,522,004 (156,573) -10.3%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . 448,199 496,260 (48,061) -9.7%\nResearch and development . . . . . . . . . . . . . . . . . . . 173,443 159,774 13,669 8.6%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . 252,936 194,861 58,075 29.8%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . 460 1,459 (999) -68.5%\nAmortization of intangible assets . . . . . . . . . . . . . . . 104,194 103,320 874 0.8%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 979,232 955,674 23,558 2.5%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . 386,199 566,330 (180,131) -31.8%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . (95,899) (57,864) (38,035) -65.7%\nIncome before provision for income taxes . . . . . . . . . . . 290,300 508,466 (218,166) -42.9%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . 73,180 99,596 (26,416) -26.5%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217,120 408,870 (191,750) -46.9%\nNet income attributable to noncontrolling interests . . . . 2,514 9,368 (6,854) -73.2%\nNet income attributable to Generac Holdings Inc. . . . . . $ 214,606 $ 399,502 $(184,896) -46.3%\nThe following sets forth our reportable segment information for the periods indicated:\nNet Sales by Reportable\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -65.7%\n-26.5%\nSegment\nYear Ended December 31,\n2023 2022 $ Change % Change\n$3,276,324 $3,867,866 $(591,542) 746,343 696,871 49,472 $4,022,667 $4,564,737 $(542,070) -15.3%\n7.1%\n-11.9%\nDomestic . . . . . . . . . . . . Total Sales by Reportable Segment\nYear Ended December 31, 2023 Year Ended December 31, 2022\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\n$3,276,324 $ 43,937 $3,320,261 $3,867,866 $ 60,731 $3,928,597\nInternational . . . . . . . . . . 746,343 91,552 837,895 696,871 93,699 790,570\nIntercompany\nelimination . . . . . . . . . — (135,489) (135,489) — (154,430) (154,430)\nTotal net sales . . . . . . . . . $4,022,667 $ — $4,022,667 $4,564,737 $ — $4,564,737",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_revenue",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "4bn",
      "golden_context": "Page 2:\n\nABOUT GENERAC\n• Founded in 1959\n• A leading energy technology company that provides backup and prime\npower products and energy storage systems for home and commercial\n& industrial applications, energy monitoring & management devices and\nservices, and other engine & battery powered tools and equipment.\n• Powering A Smarter World enterprise strategy is focused on improving\nenergy resilience and independence, optimizing energy efficiency and\nconsumption, and protecting and building critical infrastructure\n• 2023 Net Sales $4.0 Billion – 51% Residential, 37% Commercial &\nIndustrial, 12% Other\n• Approximately 8,600 employees as of 12/31/2023\n• Doing business in over 150 countries\n• Approximately 1,100 engineers worldwide\n• Omni Channel Distribution approach with thousands of dealers,\nwholesalers, retailers and e-commerce partners\n\nPage 49:\n\near ended December 31, 2023 compared to year ended December 31, 2022\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n-12.7%\n(U.S. Dollars in thousands) Year Ended December 31,\n2023 2022 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,022,667 $4,564,737 $(542,070) -11.9%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,657,236 3,042,733 (385,497) -12.7%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,365,431 1,522,004 (156,573) -10.3%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . 448,199 496,260 (48,061) -9.7%\nResearch and development . . . . . . . . . . . . . . . . . . . 173,443 159,774 13,669 8.6%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . 252,936 194,861 58,075 29.8%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . 460 1,459 (999) -68.5%\nAmortization of intangible assets . . . . . . . . . . . . . . . 104,194 103,320 874 0.8%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 979,232 955,674 23,558 2.5%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . 386,199 566,330 (180,131) -31.8%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . (95,899) (57,864) (38,035) -65.7%\nIncome before provision for income taxes . . . . . . . . . . . 290,300 508,466 (218,166) -42.9%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . 73,180 99,596 (26,416) -26.5%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217,120 408,870 (191,750) -46.9%\nNet income attributable to noncontrolling interests . . . . 2,514 9,368 (6,854) -73.2%\nNet income attributable to Generac Holdings Inc. . . . . . $ 214,606 $ 399,502 $(184,896) -46.3%\nThe following sets forth our reportable segment information for the periods indicated:\nNet Sales by Reportable\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -65.7%\n-26.5%\nSegment\nYear Ended December 31,\n2023 2022 $ Change % Change\n$3,276,324 $3,867,866 $(591,542) 746,343 696,871 49,472 $4,022,667 $4,564,737 $(542,070) -15.3%\n7.1%\n-11.9%\nDomestic . . . . . . . . . . . . Total Sales by Reportable Segment\nYear Ended December 31, 2023 Year Ended December 31, 2022\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\n$3,276,324 $ 43,937 $3,320,261 $3,867,866 $ 60,731 $3,928,597\nInternational . . . . . . . . . . 746,343 91,552 837,895 696,871 93,699 790,570\nIntercompany\nelimination . . . . . . . . . — (135,489) (135,489) — (154,430) (154,430)\nTotal net sales . . . . . . . . . $4,022,667 $ — $4,022,667 $4,564,737 $ — $4,564,737",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_revenue_growth",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "4bn, 4.6bn in the previous year",
      "golden_context": "Page 2:\n\nABOUT GENERAC\n• Founded in 1959\n• A leading energy technology company that provides backup and prime\npower products and energy storage systems for home and commercial\n& industrial applications, energy monitoring & management devices and\nservices, and other engine & battery powered tools and equipment.\n• Powering A Smarter World enterprise strategy is focused on improving\nenergy resilience and independence, optimizing energy efficiency and\nconsumption, and protecting and building critical infrastructure\n• 2023 Net Sales $4.0 Billion – 51% Residential, 37% Commercial &\nIndustrial, 12% Other\n• Approximately 8,600 employees as of 12/31/2023\n• Doing business in over 150 countries\n• Approximately 1,100 engineers worldwide\n• Omni Channel Distribution approach with thousands of dealers,\nwholesalers, retailers and e-commerce partners\n\nPage 49:\n\near ended December 31, 2023 compared to year ended December 31, 2022\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n-12.7%\n(U.S. Dollars in thousands) Year Ended December 31,\n2023 2022 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,022,667 $4,564,737 $(542,070) -11.9%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,657,236 3,042,733 (385,497) -12.7%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,365,431 1,522,004 (156,573) -10.3%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . 448,199 496,260 (48,061) -9.7%\nResearch and development . . . . . . . . . . . . . . . . . . . 173,443 159,774 13,669 8.6%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . 252,936 194,861 58,075 29.8%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . 460 1,459 (999) -68.5%\nAmortization of intangible assets . . . . . . . . . . . . . . . 104,194 103,320 874 0.8%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 979,232 955,674 23,558 2.5%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . 386,199 566,330 (180,131) -31.8%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . (95,899) (57,864) (38,035) -65.7%\nIncome before provision for income taxes . . . . . . . . . . . 290,300 508,466 (218,166) -42.9%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . 73,180 99,596 (26,416) -26.5%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217,120 408,870 (191,750) -46.9%\nNet income attributable to noncontrolling interests . . . . 2,514 9,368 (6,854) -73.2%\nNet income attributable to Generac Holdings Inc. . . . . . $ 214,606 $ 399,502 $(184,896) -46.3%\nThe following sets forth our reportable segment information for the periods indicated:\nNet Sales by Reportable\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -65.7%\n-26.5%\nSegment\nYear Ended December 31,\n2023 2022 $ Change % Change\n$3,276,324 $3,867,866 $(591,542) 746,343 696,871 49,472 $4,022,667 $4,564,737 $(542,070) -15.3%\n7.1%\n-11.9%\nDomestic . . . . . . . . . . . . Total Sales by Reportable Segment\nYear Ended December 31, 2023 Year Ended December 31, 2022\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\n$3,276,324 $ 43,937 $3,320,261 $3,867,866 $ 60,731 $3,928,597\nInternational . . . . . . . . . . 746,343 91,552 837,895 696,871 93,699 790,570\nIntercompany\nelimination . . . . . . . . . — (135,489) (135,489) — (154,430) (154,430)\nTotal net sales . . . . . . . . . $4,022,667 $ — $4,022,667 $4,564,737 $ — $4,564,737",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000138_segments",
      "report_id": "ID_000138",
      "company_name": "Generac Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 2:\n\nABOUT GENERAC\n• Founded in 1959\n• A leading energy technology company that provides backup and prime\npower products and energy storage systems for home and commercial\n& industrial applications, energy monitoring & management devices and\nservices, and other engine & battery powered tools and equipment.\n• Powering A Smarter World enterprise strategy is focused on improving\nenergy resilience and independence, optimizing energy efficiency and\nconsumption, and protecting and building critical infrastructure\n• 2023 Net Sales $4.0 Billion – 51% Residential, 37% Commercial &\nIndustrial, 12% Other\n• Approximately 8,600 employees as of 12/31/2023\n• Doing business in over 150 countries\n• Approximately 1,100 engineers worldwide\n• Omni Channel Distribution approach with thousands of dealers,\nwholesalers, retailers and e-commerce partners\n\nPage 49:\n\near ended December 31, 2023 compared to year ended December 31, 2022\nThe following table sets forth our consolidated statement of operations data for the periods indicated:\n-12.7%\n(U.S. Dollars in thousands) Year Ended December 31,\n2023 2022 $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,022,667 $4,564,737 $(542,070) -11.9%\nCost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,657,236 3,042,733 (385,497) -12.7%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,365,431 1,522,004 (156,573) -10.3%\nOperating expenses:\nSelling and service . . . . . . . . . . . . . . . . . . . . . . . . . 448,199 496,260 (48,061) -9.7%\nResearch and development . . . . . . . . . . . . . . . . . . . 173,443 159,774 13,669 8.6%\nGeneral and administrative . . . . . . . . . . . . . . . . . . . 252,936 194,861 58,075 29.8%\nAcquisition related costs . . . . . . . . . . . . . . . . . . . . . 460 1,459 (999) -68.5%\nAmortization of intangible assets . . . . . . . . . . . . . . . 104,194 103,320 874 0.8%\nTotal operating expenses . . . . . . . . . . . . . . . . . . . . . . . 979,232 955,674 23,558 2.5%\nIncome from operations . . . . . . . . . . . . . . . . . . . . . . . 386,199 566,330 (180,131) -31.8%\nTotal other expense, net . . . . . . . . . . . . . . . . . . . . . . . (95,899) (57,864) (38,035) -65.7%\nIncome before provision for income taxes . . . . . . . . . . . 290,300 508,466 (218,166) -42.9%\nProvision for income taxes . . . . . . . . . . . . . . . . . . . . . 73,180 99,596 (26,416) -26.5%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217,120 408,870 (191,750) -46.9%\nNet income attributable to noncontrolling interests . . . . 2,514 9,368 (6,854) -73.2%\nNet income attributable to Generac Holdings Inc. . . . . . $ 214,606 $ 399,502 $(184,896) -46.3%\nThe following sets forth our reportable segment information for the periods indicated:\nNet Sales by Reportable\n(U.S. Dollars in thousands) Domestic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -65.7%\n-26.5%\nSegment\nYear Ended December 31,\n2023 2022 $ Change % Change\n$3,276,324 $3,867,866 $(591,542) 746,343 696,871 49,472 $4,022,667 $4,564,737 $(542,070) -15.3%\n7.1%\n-11.9%\nDomestic . . . . . . . . . . . . Total Sales by Reportable Segment\nYear Ended December 31, 2023 Year Ended December 31, 2022\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\nExternal\nNet Sales\nIntersegment\nSales\nTotal\nSales\n$3,276,324 $ 43,937 $3,320,261 $3,867,866 $ 60,731 $3,928,597\nInternational . . . . . . . . . . 746,343 91,552 837,895 696,871 93,699 790,570\nIntercompany\nelimination . . . . . . . . . — (135,489) (135,489) — (154,430) (154,430)\nTotal net sales . . . . . . . . . $4,022,667 $ — $4,022,667 $4,564,737 $ — $4,564,737",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_cash_flow",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2639m, investing: -528m, financing: -870m, total cash flow: 1241m",
      "golden_context": "Page 74:\n\nFOX CORPORATION\nCONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS\n(IN MILLIONS)\nFor the years ended June 30,\n2021 2020 2019\nOPERATING ACTIVITIES\nNet income .......................................................................................... $ 2,201 $ 1,062 $ 1,643\nAdjustments to reconcile net income to cash provided by\noperating activities\nDepreciation and amortization .......................................................... 300 258 212\nAmortization of cable distribution investments.................................. 22 24 38\nImpairment and restructuring charges, net of termination\npayments........................................................................................... 35 133 26\nEquity-based compensation.............................................................. 147 137 36\nOther, net .......................................................................................... (579) 248 19\nDeferred income taxes...................................................................... 534 283 386\nChange in operating assets and liabilities, net of acquisitions\nand dispositions\nReceivables and other assets ........................................................ (269) 224 (166)\nInventories net of program rights payable ...................................... 190 181 197\nAccounts payable and accrued expenses ...................................... 282 (87) 231\nOther changes, net ......................................................................... (224) (98) (98)\nNet cash provided by operating activities .............................................. 2,639 2,365 2,524\nINVESTING ACTIVITIES\nProperty, plant and equipment ............................................................ (484) (359) (235)\nAcquisitions, net of cash acquired....................................................... (51) (1,061) -\nProceeds from dispositions, net .......................................................... 93 60 -\nSale of investments ............................................................................. - 349 -\nPurchase of investments ..................................................................... (86) (103) (338)\nOther investing activities, net............................................................... - 14 (64)\nNet cash used in investing activities ...................................................... (528) (1,100) (637)\nFINANCING ACTIVITIES\nBorrowings........................................................................................... - 1,191 6,750\nNet transfers to Twenty-First Century Fox, Inc.................................... - - (1,233)\nNet dividend paid to Twenty-First Century Fox, Inc............................. - - (6,500)\nRepurchase of shares ......................................................................... (1,001) (600) -\nNon-operating cash flows from (to) The Walt Disney Company.......... 112 (95) -\nSettlement of Divestiture Tax prepayment .......................................... 462 - -\nDividends paid and distributions.......................................................... (330) (335) (188)\nPurchase of subsidiary noncontrolling interest.................................... (67) - -\nOther financing activities, net .............................................................. (46) (15) 18\nNet cash (used in) provided by financing activities ................................ (870) 146 (1,153)\nNet increase in cash and cash equivalents............................................ 1,241 1,411 734\nCash and cash equivalents, beginning of year ...................................... 4,645 3,234 2,500\nCash and cash equivalents, end of year................................................ $ 5,886 $ 4,645 $ 3,234\nThe accompanying notes are an integral part of these Consolidated and Combined Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_company_type",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\nANNUAL REPORT\nPURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\n(Mark One)\nTitle of Each Class Class A Common Stock, par value $0.01 per share Class B Common Stock, par value $0.01 per share ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-38776\nFOX CORPORATION\n(Exact Name of Registrant as Specified in its Charter)\nDelaware 83-1825597\n(State or Other Jurisdiction of\nIncorporation or Organization)\n1211 Avenue of the Americas, New York, New York (Address of Principal Executive Offices) (I.R.S. Employer\nIdentification No.)\n10036\n(Zip Code)\nRegistrant’s telephone number, including area code (212) 852-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbols FOXA FOX Name of Each Exchange on Which Registered\nThe Nasdaq Global Select Market\nThe Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of December 31, 2020, which was the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value\nof the registrant’s Class A Common Stock, par value $0.01 per share, held by non-affiliates was approximately $9.6 billion, based upon the closing price\nof $29.12 per share as quoted on The Nasdaq Global Select Market on that date, and the aggregate market value of the registrant’s Class B Common\nStock, par value $0.01 per share, held by non-affiliates was approximately $4.4 billion, based upon the closing price of $28.88 per share as quoted on\nThe Nasdaq Global Select Market on that date.\nAs of August 6, 2021, 323,404,058 shares of Class A Common Stock and 251,381,283 shares of Class B Common Stock were outstanding.\nDOCUMENTS INCORPORAT",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_key_financials",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenues 12'909m, cash divided per share 0.46, net income attributable to Fox stockholders: 2'150m",
      "golden_context": "Page 42:\n\nTEM 6. SELECTED FINANCIAL DATA\nThe selected consolidated and combined financial data should be read in conjunction with “Item 7—Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations” and “Item 8—Financial Statements and\nSupplementary Data” and the other financial information included elsewhere herein.\nFor the years ended June 30,\n2021(a) 2020(a) 2019(a) 2018(b) 2017(c)\n(in millions, except per share data)\nSTATEMENT OF OPERATIONS DATA\nRevenues.................................................. $ 12,909 $ 12,303 $ 11,389 $ 10,153 $ 9,921\nNet income attributable to Fox\nCorporation stockholders ........................ $ 2,150 $ 999 $ 1,595 $ 2,187 $ 1,372\nNet income attributable to Fox\nCorporation stockholders per share -\nbasic(d)\n.................................................... $ 3.64 $ 1.63 $ 2.57 $ 3.52 $ 2.21\nNet income attributable to Fox\nCorporation stockholders per share -\ndiluted(d)\n.................................................. $ 3.61 $ 1.62 $ 2.57 $ 3.52 $ 2.21\nCash dividend per share ........................... $ 0.46 $ 0.46 $ 0.23 $ - $ -\nAs of June 30,\n2021 2020 2019 2018 2017\n(a) (b) (in millions)\nBALANCE SHEET DATA\nCash and cash equivalents....................... $ 5,886 $ 4,645 $ 3,234 $ 2,500 $ 19\nTotal assets............................................... 22,926 21,750 19,509 13,121 10,348\nBorrowings ................................................ 7,951 7,946 6,751 - -\nFox Corporation stockholders' equity........ 11,123 10,094 9,947 9,594 6,093\nSee Notes 1, 2, 3, 4, 5 and 21 to the accompanying Consolidated and Combined Financial Statements of FOX for\ninformation with respect to significant acquisitions, disposals, accounting changes, restructuring charges,\nprogramming write-downs and other transactions during fiscal 2021, 2020 and 2019.\nIn fiscal 2018, as part of a voluntary auction to reclaim television broadcast station spectrum concluded by the Federal\nCommunications Commission (“FCC”) in March 2017, FOX recorded a pre-tax gain of $102 million related to the portion\nof spectrum relinquished to the FCC, which was included in Other, net in the Combined Statement of Operations for fiscal\n2018.\nIn fiscal 2017, FOX recorded restructuring charges of $160 million primarily related to costs in connection with\nmanagement and employee transitions and restructuring at the Cable Network Programming segment.\nOn March 19, 2019, the date of the Distribution, 621 million shares of the Company’s Common Stock were distributed to\n21CF stockholders (other than holders that were subsidiaries of 21CF). These 621 million shares have been utilized for\nthe calculation of basic and diluted earnings per share for all periods presented that ended prior to the date of the\nDistribution as no shares of common stock or equity-based awards of the Company were outstanding prior to that date\n(See Note 2—Summary of Significant Accounting Policies to the accompanying Consolidated and Combined\nFinancial Statements of FOX under the heading “Earnings per share”).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_revenue",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "12'909",
      "golden_context": "Page 42:\n\nTEM 6. SELECTED FINANCIAL DATA\nThe selected consolidated and combined financial data should be read in conjunction with “Item 7—Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations” and “Item 8—Financial Statements and\nSupplementary Data” and the other financial information included elsewhere herein.\nFor the years ended June 30,\n2021(a) 2020(a) 2019(a) 2018(b) 2017(c)\n(in millions, except per share data)\nSTATEMENT OF OPERATIONS DATA\nRevenues.................................................. $ 12,909 $ 12,303 $ 11,389 $ 10,153 $ 9,921\nNet income attributable to Fox\nCorporation stockholders ........................ $ 2,150 $ 999 $ 1,595 $ 2,187 $ 1,372\nNet income attributable to Fox\nCorporation stockholders per share -\nbasic(d)\n.................................................... $ 3.64 $ 1.63 $ 2.57 $ 3.52 $ 2.21\nNet income attributable to Fox\nCorporation stockholders per share -\ndiluted(d)\n.................................................. $ 3.61 $ 1.62 $ 2.57 $ 3.52 $ 2.21\nCash dividend per share ........................... $ 0.46 $ 0.46 $ 0.23 $ - $ -\nAs of June 30,\n2021 2020 2019 2018 2017\n(a) (b) (in millions)\nBALANCE SHEET DATA\nCash and cash equivalents....................... $ 5,886 $ 4,645 $ 3,234 $ 2,500 $ 19\nTotal assets............................................... 22,926 21,750 19,509 13,121 10,348\nBorrowings ................................................ 7,951 7,946 6,751 - -\nFox Corporation stockholders' equity........ 11,123 10,094 9,947 9,594 6,093\nSee Notes 1, 2, 3, 4, 5 and 21 to the accompanying Consolidated and Combined Financial Statements of FOX for\ninformation with respect to significant acquisitions, disposals, accounting changes, restructuring charges,\nprogramming write-downs and other transactions during fiscal 2021, 2020 and 2019.\nIn fiscal 2018, as part of a voluntary auction to reclaim television broadcast station spectrum concluded by the Federal\nCommunications Commission (“FCC”) in March 2017, FOX recorded a pre-tax gain of $102 million related to the portion\nof spectrum relinquished to the FCC, which was included in Other, net in the Combined Statement of Operations for fiscal\n2018.\nIn fiscal 2017, FOX recorded restructuring charges of $160 million primarily related to costs in connection with\nmanagement and employee transitions and restructuring at the Cable Network Programming segment.\nOn March 19, 2019, the date of the Distribution, 621 million shares of the Company’s Common Stock were distributed to\n21CF stockholders (other than holders that were subsidiaries of 21CF). These 621 million shares have been utilized for\nthe calculation of basic and diluted earnings per share for all periods presented that ended prior to the date of the\nDistribution as no shares of common stock or equity-based awards of the Company were outstanding prior to that date\n(See Note 2—Summary of Significant Accounting Policies to the accompanying Consolidated and Combined\nFinancial Statements of FOX under the heading “Earnings per share”).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_revenue_growth",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "12'909, prior: 12'303",
      "golden_context": "Page 42:\n\nTEM 6. SELECTED FINANCIAL DATA\nThe selected consolidated and combined financial data should be read in conjunction with “Item 7—Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations” and “Item 8—Financial Statements and\nSupplementary Data” and the other financial information included elsewhere herein.\nFor the years ended June 30,\n2021(a) 2020(a) 2019(a) 2018(b) 2017(c)\n(in millions, except per share data)\nSTATEMENT OF OPERATIONS DATA\nRevenues.................................................. $ 12,909 $ 12,303 $ 11,389 $ 10,153 $ 9,921\nNet income attributable to Fox\nCorporation stockholders ........................ $ 2,150 $ 999 $ 1,595 $ 2,187 $ 1,372\nNet income attributable to Fox\nCorporation stockholders per share -\nbasic(d)\n.................................................... $ 3.64 $ 1.63 $ 2.57 $ 3.52 $ 2.21\nNet income attributable to Fox\nCorporation stockholders per share -\ndiluted(d)\n.................................................. $ 3.61 $ 1.62 $ 2.57 $ 3.52 $ 2.21\nCash dividend per share ........................... $ 0.46 $ 0.46 $ 0.23 $ - $ -\nAs of June 30,\n2021 2020 2019 2018 2017\n(a) (b) (in millions)\nBALANCE SHEET DATA\nCash and cash equivalents....................... $ 5,886 $ 4,645 $ 3,234 $ 2,500 $ 19\nTotal assets............................................... 22,926 21,750 19,509 13,121 10,348\nBorrowings ................................................ 7,951 7,946 6,751 - -\nFox Corporation stockholders' equity........ 11,123 10,094 9,947 9,594 6,093\nSee Notes 1, 2, 3, 4, 5 and 21 to the accompanying Consolidated and Combined Financial Statements of FOX for\ninformation with respect to significant acquisitions, disposals, accounting changes, restructuring charges,\nprogramming write-downs and other transactions during fiscal 2021, 2020 and 2019.\nIn fiscal 2018, as part of a voluntary auction to reclaim television broadcast station spectrum concluded by the Federal\nCommunications Commission (“FCC”) in March 2017, FOX recorded a pre-tax gain of $102 million related to the portion\nof spectrum relinquished to the FCC, which was included in Other, net in the Combined Statement of Operations for fiscal\n2018.\nIn fiscal 2017, FOX recorded restructuring charges of $160 million primarily related to costs in connection with\nmanagement and employee transitions and restructuring at the Cable Network Programming segment.\nOn March 19, 2019, the date of the Distribution, 621 million shares of the Company’s Common Stock were distributed to\n21CF stockholders (other than holders that were subsidiaries of 21CF). These 621 million shares have been utilized for\nthe calculation of basic and diluted earnings per share for all periods presented that ended prior to the date of the\nDistribution as no shares of common stock or equity-based awards of the Company were outstanding prior to that date\n(See Note 2—Summary of Significant Accounting Policies to the accompanying Consolidated and Combined\nFinancial Statements of FOX under the heading “Earnings per share”).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000139_segments",
      "report_id": "ID_000139",
      "company_name": "Fox",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Cable Network Programming\nTelevision\nOther, Corporate and Eliminations",
      "golden_context": "Page 9:\n\nITEM 1. BUSINESS\nBackground\nFox Corporation, a Delaware corporation, is a news, sports and entertainment company, which manages and\nreports its businesses in the following segments:\n• Cable Network Programming, which principally consists of the production and licensing of news and sports\ncontent distributed primarily through traditional cable television systems, direct broadcast satellite operators and\ntelecommunication companies (“traditional MVPDs”) and online multi-channel video programming distributors\n(“digital MVPDs”), primarily in the U.S.\n• Television, which principally consists of the production, acquisition, marketing and distribution of broadcast\nnetwork programming and free advertising-supported video-on-demand (“AVOD”) services under the FOX and\nTubi brands, respectively, and the operation of 29 full power broadcast television stations, including 11\nduopolies, in the U.S. Of these stations, 18 are affiliated with the FOX Network, 10 are affiliated with\nMyNetworkTV and one is an independent station.\n• Other, Corporate and Eliminations, which principally consists of the FOX Studio Lot, Credible Labs Inc.\n(“Credible”), corporate overhead costs and intracompany eliminations. The FOX Studio Lot, located in Los\nAngeles, California, provides television and film production services along with office space, studio operation\nservices and includes all operations of the facility. Credible is a U.S. consumer finance marketplace.\nUnless otherwise indicated, references in this Annual Report on Form 10-K (this “Annual Report”) for the fiscal year\nended June 30, 2021 (“fiscal 2021”) to “FOX,” the “Company,” “we” or “us” mean Fox Corporation and its consolidated\nsubsidiaries.\nFOX became a standalone publicly traded company on March 19, 2019, when Twenty-First Century Fox, Inc. (now\nknown as TFCF Corporation) (“21CF”) distributed, on a pro rata basis, all the issued and outstanding common stock of the\nCompany to 21CF stockholders. Following the distribution, the Company’s class A common stock, par value $0.01 per\nshare (the “class A common stock”) and class B common stock, par value $0.01 per share (the “class B common stock”\nand, together with the class A common stock, the “common stock”) began trading independently on The Nasdaq Global\nSelect Market. We refer to the foregoing as the “Transaction.” In connection with the Transaction, the Company was\nformed with a focused portfolio of domestic media assets in live news and sports and original entertainment programming.\nThe remaining 21CF assets were acquired by The Walt Disney Company (“Disney”), and 21CF became a wholly-owned\nsubsidiary of Disney (the “Disney Merger”).\nThe Company is party to several agreements that govern certain aspects of the Company’s relationship with 21CF\nand Disney following the Transaction, including a separation and distribution agreement, a tax matters agreement,\ntransition services agreements, as well as agreements relating to intellectual property licenses, employee matters,\ncommercial arrangements and a studio lot lease. The core transition services agreements will terminate in accordance\nwith their terms by September 2021. See Note 1, “Description of Business and Basis of Presentation,” to the consolidated\nfinancial statements included in this Annual Report for further information about these agreements.\nThe Company’s fiscal year ends on June 30 of each year. The Company was incorporated in 2018 under the laws of\nthe State of Delaware. The Company’s principal executive offices are located at 1211 Avenue of the Americas, New York,\nNew York 10036 and its telephone number is (212) 852-7000. The Company’s website is www.foxcorporation.com. The\nCompany’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and\namendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,\nas amended (the “Exchange Act”), are available, free of charge, through the Company’s website as soon as reasonably\npracticable after the material is electronically filed with or furnished to the U.S. Securities and Exchange Commission (the\n“SEC”). The SEC maintains an Internet site that contains reports, proxy and information statements, and other information\nregarding issuers that file electronically with the SEC. We are providing our website address solely for the information of\ninvestors. We do not intend the address to be an active link or to otherwise incorporate the contents of the website,\nincluding any reports that are noted in this Annual Report as being posted on the website, into this Annual Report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_cash_flow",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1884m, investing -513m, financing -2'057m, total cash flow: -686m",
      "golden_context": "Page 74:\n\nFOX CORPORATION\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(IN MILLIONS)\nFor the years ended June 30,\n2022 2021 2020\nOPERATING ACTIVITIES\nNet income ........................................................................................... $ 1,233 $ 2,201 $ 1,062\nAdjustments to reconcile net income to cash provided by\noperating activities\nDepreciation and amortization .......................................................... 363 300 258\nAmortization of cable distribution investments ............................... 18 22 24\nImpairment and restructuring charges ............................................. — 35 133\nEquity-based compensation .............................................................. 102 147 137\nOther, net .............................................................................................. 509 (579) 248\nDeferred income taxes ....................................................................... 342 534 283\nChange in operating assets and liabilities, net of\nacquisitions and dispositions\nReceivables and other assets ....................................................... (79) (269) 224\nInventories net of programming payable ..................................... (301) 190 181\nAccounts payable and accrued expenses ................................... (54) 282 (87)\nOther changes, net.......................................................................... (249) (224) (98)\nNet cash provided by operating activities ........................................... 1,884 2,639 2,365\nINVESTING ACTIVITIES\nProperty, plant and equipment .......................................................... (307) (484) (359)\nAcquisitions, net of cash acquired .................................................... (243) (51) (1,061)\nProceeds from dispositions, net ....................................................... 83 93 60\nSale of investments ............................................................................ — — 349\nPurchase of investments ................................................................... (28) (86) (103)\nOther investing activities, net ............................................................ (18) — 14\nNet cash used in investing activities .................................................... (513) (528) (1,100)\nFINANCING ACTIVITIES\nRepayment of borrowings ................................................................ (750) — —\nBorrowings ........................................................................................... — — 1,191\nRepurchase of shares ........................................................................ (1,000) (1,001) (600)\nNon-operating cash flows from (to) The Walt Disney Company . — 112 (95)\nSettlement of Divestiture Tax Prepayment ...................................... — 462 —\nDividends paid and distributions ....................................................... (307) (330) (335)\nPurchase of subsidiary noncontrolling interest .............................. — (67) —\nSale of subsidiary noncontrolling interest ....................................... 25 — —\nOther financing activities, net ............................................................ (25) (46) (15)\nNet cash (used in) provided by financing activities ........................... (2,057) (870) 146\nNet (decrease) increase in cash and cash equivalents .................... (686) 1,241 1,411\nCash and cash equivalents, beginning of year .................................. 5,886 4,645 3,234\nCash and cash equivalents, end of year ............................................ $ 5,200 $ 5,886 $ 4,645\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_company_type",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\nANNUAL REPORT\nPURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\n(Mark One)\nx ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2022\nor\no TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-38776\nFOX CORPORATION\n(Exact Name of Registrant as Specified in its Charter)\nDelaware 83-1825597\n(State or Other Jurisdiction of\nIncorporation or Organization)\n(I.R.S. Employer\nIdentification No.)\n1211 Avenue of the Americas\nNew York, New York 10036\n(Address of Principal Executive Offices and Zip Code)\nRegistrant's telephone number, including area code (212) 852-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock, par value $0.01 per share Class B Common Stock, par value $0.01 per share Trading Symbols FOXA FOX Name of Each Exchange on Which Registered\nThe Nasdaq Global Select Market\nThe Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes x No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth\ncompany. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer x Accelerated filer o\nNon-accelerated filer o Smaller reporting company o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_key_financials",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "13'974m revenues",
      "golden_context": "Page 46:\n\nESULTS OF OPERATIONS\nResults of Operations—Fiscal 2022 versus Fiscal 2021\nThe following table sets forth the Company’s operating results for fiscal 2022, as compared to fiscal 2021:\nFor the years ended June 30,\n2022 2021 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 6,878 $ 6,435 $ 443 7 %\nAdvertising ................................................................ 5,900 5,431 469 9 %\nOther .......................................................................... 1,196 1,043 153 15 %\nTotal revenues ............................................................. 13,974 12,909 1,065 8 %\nOperating expenses .................................................... (9,117) (8,037) (1,080) (13) %\nSelling, general and administrative .......................... (1,920) (1,807) (113) (6) %\nDepreciation and amortization .................................. (363) (300) (63) (21) %\nImpairment and restructuring charges ..................... — (35) 35 100 %\nInterest expense, net .................................................. (371) (391) 20 5 %\nOther, net ...................................................................... (509) 579 (1,088) **\nIncome before income tax expense ......................... 1,694 2,918 (1,224) (42) %\nIncome tax expense ................................................ (461) (717) 256 36 %\nNet income ................................................................... 1,233 2,201 (968) (44) %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (28) (51) 23 45 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,205 $ 2,150 $ (945) (44) %\n** not meaningful\nOverview—The Company's revenues increased 8% for fiscal 2022, as compared to fiscal 2021, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher average rates per subscriber, led by contractual rate increases on existing affiliate agreements and from\naffiliate agreement renewals, partially offset by a lower average number of subscribers. Also impacting the\nincrease was the absence of prior year affiliate fee credits as a result of the coronavirus disease 2019\n(\"COVID-19\") related under-delivery of college football games. The increase in advertising revenue was\nprimarily due to higher pricing at FOX Sports and FOX News Media, growth at TUBI, and a higher number of\nlive events at FOX Sports due to the impact of COVID-19 in fiscal 2021. Partially offsetting this increase was\nlower political advertising revenue due to the absence of the 2020 presidential and congressional elections. The\nincrease in other revenues was primarily due to higher sports sublicensing revenues which were impacted by\nCOVID-19 in fiscal 2021, the impact of acquisitions of entertainment production companies in fiscal 2022 (See\nNote 3—Acquisitions, Disposals and Other Transactions to the accompanying Financial Statements) and higher\nFOX Nation subscription revenues, partially offset by the impact of the divestiture of the Company's sports\nmarketing businesses in fiscal 2021.\nOperating expenses increased 13% for fiscal 2022, as compared to fiscal 2021, primarily due to higher\nsports programming rights amortization and production costs related to NFL, Major League Baseball (\"MLB\")\nand college football content, including a higher number of live events due to the impact of COVID-19 in fiscal\n2021. Also impacting the increase was increased digital investment at TUBI and FOX News Media, costs\nassociated with the launch of the United States Football League (\"USFL\") and higher entertainment\nprogramming rights amortization due to more hours of original scripted programming as compared to fiscal 2021\nwhich was impacted by COVID-19. This increase was partially offset by the absence of events that were shifted\ninto fiscal 2021 from fiscal 2020 as a result of COVID-19 rescheduling, including National Association of Stock\nCar Auto Racing (\"NASCAR\") Cup Series races and additional MLB regular sea",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_revenue",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "13'974m",
      "golden_context": "Page 46:\n\nESULTS OF OPERATIONS\nResults of Operations—Fiscal 2022 versus Fiscal 2021\nThe following table sets forth the Company’s operating results for fiscal 2022, as compared to fiscal 2021:\nFor the years ended June 30,\n2022 2021 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 6,878 $ 6,435 $ 443 7 %\nAdvertising ................................................................ 5,900 5,431 469 9 %\nOther .......................................................................... 1,196 1,043 153 15 %\nTotal revenues ............................................................. 13,974 12,909 1,065 8 %\nOperating expenses .................................................... (9,117) (8,037) (1,080) (13) %\nSelling, general and administrative .......................... (1,920) (1,807) (113) (6) %\nDepreciation and amortization .................................. (363) (300) (63) (21) %\nImpairment and restructuring charges ..................... — (35) 35 100 %\nInterest expense, net .................................................. (371) (391) 20 5 %\nOther, net ...................................................................... (509) 579 (1,088) **\nIncome before income tax expense ......................... 1,694 2,918 (1,224) (42) %\nIncome tax expense ................................................ (461) (717) 256 36 %\nNet income ................................................................... 1,233 2,201 (968) (44) %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (28) (51) 23 45 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,205 $ 2,150 $ (945) (44) %\n** not meaningful\nOverview—The Company's revenues increased 8% for fiscal 2022, as compared to fiscal 2021, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher average rates per subscriber, led by contractual rate increases on existing affiliate agreements and from\naffiliate agreement renewals, partially offset by a lower average number of subscribers. Also impacting the\nincrease was the absence of prior year affiliate fee credits as a result of the coronavirus disease 2019\n(\"COVID-19\") related under-delivery of college football games. The increase in advertising revenue was\nprimarily due to higher pricing at FOX Sports and FOX News Media, growth at TUBI, and a higher number of\nlive events at FOX Sports due to the impact of COVID-19 in fiscal 2021. Partially offsetting this increase was\nlower political advertising revenue due to the absence of the 2020 presidential and congressional elections. The\nincrease in other revenues was primarily due to higher sports sublicensing revenues which were impacted by\nCOVID-19 in fiscal 2021, the impact of acquisitions of entertainment production companies in fiscal 2022 (See\nNote 3—Acquisitions, Disposals and Other Transactions to the accompanying Financial Statements) and higher\nFOX Nation subscription revenues, partially offset by the impact of the divestiture of the Company's sports\nmarketing businesses in fiscal 2021.\nOperating expenses increased 13% for fiscal 2022, as compared to fiscal 2021, primarily due to higher\nsports programming rights amortization and production costs related to NFL, Major League Baseball (\"MLB\")\nand college football content, including a higher number of live events due to the impact of COVID-19 in fiscal\n2021. Also impacting the increase was increased digital investment at TUBI and FOX News Media, costs\nassociated with the launch of the United States Football League (\"USFL\") and higher entertainment\nprogramming rights amortization due to more hours of original scripted programming as compared to fiscal 2021\nwhich was impacted by COVID-19. This increase was partially offset by the absence of events that were shifted\ninto fiscal 2021 from fiscal 2020 as a result of COVID-19 rescheduling, including National Association of Stock\nCar Auto Racing (\"NASCAR\") Cup Series races and additional MLB regular sea",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_revenue_growth",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "13'974m, prior year 12'909m",
      "golden_context": "Page 46:\n\nESULTS OF OPERATIONS\nResults of Operations—Fiscal 2022 versus Fiscal 2021\nThe following table sets forth the Company’s operating results for fiscal 2022, as compared to fiscal 2021:\nFor the years ended June 30,\n2022 2021 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 6,878 $ 6,435 $ 443 7 %\nAdvertising ................................................................ 5,900 5,431 469 9 %\nOther .......................................................................... 1,196 1,043 153 15 %\nTotal revenues ............................................................. 13,974 12,909 1,065 8 %\nOperating expenses .................................................... (9,117) (8,037) (1,080) (13) %\nSelling, general and administrative .......................... (1,920) (1,807) (113) (6) %\nDepreciation and amortization .................................. (363) (300) (63) (21) %\nImpairment and restructuring charges ..................... — (35) 35 100 %\nInterest expense, net .................................................. (371) (391) 20 5 %\nOther, net ...................................................................... (509) 579 (1,088) **\nIncome before income tax expense ......................... 1,694 2,918 (1,224) (42) %\nIncome tax expense ................................................ (461) (717) 256 36 %\nNet income ................................................................... 1,233 2,201 (968) (44) %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (28) (51) 23 45 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,205 $ 2,150 $ (945) (44) %\n** not meaningful\nOverview—The Company's revenues increased 8% for fiscal 2022, as compared to fiscal 2021, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher average rates per subscriber, led by contractual rate increases on existing affiliate agreements and from\naffiliate agreement renewals, partially offset by a lower average number of subscribers. Also impacting the\nincrease was the absence of prior year affiliate fee credits as a result of the coronavirus disease 2019\n(\"COVID-19\") related under-delivery of college football games. The increase in advertising revenue was\nprimarily due to higher pricing at FOX Sports and FOX News Media, growth at TUBI, and a higher number of\nlive events at FOX Sports due to the impact of COVID-19 in fiscal 2021. Partially offsetting this increase was\nlower political advertising revenue due to the absence of the 2020 presidential and congressional elections. The\nincrease in other revenues was primarily due to higher sports sublicensing revenues which were impacted by\nCOVID-19 in fiscal 2021, the impact of acquisitions of entertainment production companies in fiscal 2022 (See\nNote 3—Acquisitions, Disposals and Other Transactions to the accompanying Financial Statements) and higher\nFOX Nation subscription revenues, partially offset by the impact of the divestiture of the Company's sports\nmarketing businesses in fiscal 2021.\nOperating expenses increased 13% for fiscal 2022, as compared to fiscal 2021, primarily due to higher\nsports programming rights amortization and production costs related to NFL, Major League Baseball (\"MLB\")\nand college football content, including a higher number of live events due to the impact of COVID-19 in fiscal\n2021. Also impacting the increase was increased digital investment at TUBI and FOX News Media, costs\nassociated with the launch of the United States Football League (\"USFL\") and higher entertainment\nprogramming rights amortization due to more hours of original scripted programming as compared to fiscal 2021\nwhich was impacted by COVID-19. This increase was partially offset by the absence of events that were shifted\ninto fiscal 2021 from fiscal 2020 as a result of COVID-19 rescheduling, including National Association of Stock\nCar Auto Racing (\"NASCAR\") Cup Series races and additional MLB regular sea",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000140_segments",
      "report_id": "ID_000140",
      "company_name": "Fox",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Cable Networking Programming\nTelevision\nOther, Corporate and Eliminations",
      "golden_context": "Page 9:\n\nTEM 1. BUSINESS\nBackground\nFox Corporation is a news, sports and entertainment company, which manages and reports its\nbusinesses in the following segments:\n• Cable Network Programming, which produces and licenses news and sports content distributed\nthrough traditional cable television systems, direct broadcast satellite operators and\ntelecommunication companies (\"traditional MVPDs\"), virtual multi-channel video programming\ndistributors (\"virtual MVPDs\") and other digital platforms, primarily in the U.S.\n• Television, which produces, acquires, markets and distributes programming through the FOX\nbroadcast network, advertising supported video-on-demand (\"AVOD\") service TUBI, 29 full power\nbroadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S.\nEighteen of the broadcast television stations are affiliated with the FOX Network, 10 are affiliated with\nMyNetworkTV and one is an independent station.\n• Other, Corporate and Eliminations, which principally consists of the FOX Studio Lot, Credible Labs\nInc. (\"Credible\"), corporate overhead costs and intracompany eliminations. The FOX Studio Lot,\nlocated in Los Angeles, California, provides television and film production services along with office\nspace, studio operation services and includes all operations of the facility. Credible is a U.S.\nconsumer finance marketplace.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_cash_flow",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "operating activities: 1800m, investing: -438, financing: -2290, total cash flow: -928m",
      "golden_context": "Page 74:\n\nFOX CORPORATION\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(IN MILLIONS)\nFor the years ended June 30,\n2023 2022 2021\nOPERATING ACTIVITIES\nNet income ........................................................................................... $ 1,253 $ 1,233 $ 2,201\nAdjustments to reconcile net income to cash provided by\noperating activities\nDepreciation and amortization .......................................................... 411 363 300\nAmortization of cable distribution investments ............................... 16 18 22\nImpairment and restructuring charges ............................................. 111 — 35\nEquity-based compensation .............................................................. 74 102 147\nOther, net .............................................................................................. (116) 509 (579)\nDeferred income taxes ....................................................................... 321 342 534\nChange in operating assets and liabilities, net of\nacquisitions and dispositions\nReceivables and other assets ....................................................... (104) (79) (269)\nInventories net of programming payable ..................................... 145 (301) 190\nAccounts payable and accrued expenses ................................... (68) (54) 282\nOther changes, net.......................................................................... (243) (249) (224)\nNet cash provided by operating activities ........................................... 1,800 1,884 2,639\nINVESTING ACTIVITIES\nProperty, plant and equipment .......................................................... (357) (307) (484)\nAcquisitions, net of cash acquired .................................................... — (243) (51)\nProceeds from dispositions, net ....................................................... — 83 93\nPurchase of investments ................................................................... (54) (28) (86)\nOther investing activities, net ............................................................ (27) (18) —\nNet cash used in investing activities .................................................... (438) (513) (528)\nFINANCING ACTIVITIES\nRepayment of borrowings ................................................................ — (750) —\nRepurchase of shares ........................................................................ (2,000) (1,000) (1,001)\nNon-operating cash flows from The Walt Disney Company ........ — — 112\nSettlement of Divestiture Tax Prepayment ...................................... — — 462\nDividends paid and distributions ....................................................... (299) (307) (330)\nPurchase of subsidiary noncontrolling interest .............................. — — (67)\nSale of subsidiary noncontrolling interest ....................................... 35 25 —\nOther financing activities, net ............................................................ (26) (25) (46)\nNet cash used in financing activities ................................................... (2,290) (2,057) (870)\nNet (decrease) increase in cash and cash equivalents .................... (928) (686) 1,241\nCash and cash equivalents, beginning of year .................................. 5,200 5,886 4,645\nCash and cash equivalents, end of year ............................................ $ 4,272 $ 5,200 $ 5,886\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_company_type",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\nx ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2023\nor\no TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from _________ to _________\nCommission file number 001-38776\nFOX CORPORATION\n(Exact name of registrant as specified in its charter)\n(I.R.S. Employer Identification No.)\nTitle of each class Class A Common Stock, par value $0.01 per share Class B Common Stock, par value $0.01 per share Delaware 83-1825597\n(State or other jurisdiction of incorporation or organization) 1211 Avenue of the Americas\nNew York, New York 10036\n(Address of principal executive offices and Zip Code)\nRegistrant’s telephone number, including area code (212) 852-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbols FOXA FOX Name of each exchange on which registered\nThe Nasdaq Global Select Market\nThe Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90\ndays. Yes x No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange\nAct.\nLarge accelerated filer x Accelerated filer o\nNon-accelerated filer o Smaller reporting company o\nEmerging growth company o\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assess",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_key_financials",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "14'913m revenues, 1'253m net income",
      "golden_context": "Page 46:\n\nRESULTS OF OPERATIONS\nResults of Operations—Fiscal 2023 versus Fiscal 2022\nThe following table sets forth the Company’s operating results for fiscal 2023, as compared to fiscal 2022:\nFor the years ended June 30,\n2023 2022 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 7,051 $ 6,878 $ 173 3 %\nAdvertising ................................................................ 6,606 5,900 706 12 %\nOther .......................................................................... 1,256 1,196 60 5 %\nTotal revenues ............................................................. 14,913 13,974 939 7 %\nOperating expenses .................................................... (9,689) (9,117) (572) (6) %\nSelling, general and administrative .......................... (2,049) (1,920) (129) (7) %\nDepreciation and amortization .................................. (411) (363) (48) (13) %\nImpairment and restructuring charges ..................... (111) — (111) **\nInterest expense, net .................................................. (218) (371) 153 41 %\nOther, net ...................................................................... (699) (509) (190) (37) %\nIncome before income tax expense ......................... 1,736 1,694 42 2 %\nIncome tax expense ................................................ (483) (461) (22) (5) %\nNet income ................................................................... 1,253 1,233 20 2 %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (14) (28) 14 50 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,239 $ 1,205 $ 34 3 %\n** not meaningful\nOverview—The Company’s revenues increased 7% for fiscal 2023, as compared to fiscal 2022, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher fees received from television stations that are affiliated with the FOX Network and higher average rates\nper subscriber, led by contractual rate increases on existing affiliate agreements and from affiliate agreement\nrenewals, partially offset by a lower average number of subscribers across all networks. The increase in\nadvertising revenue was primarily due to revenues resulting from the broadcasts of Super Bowl LVII and the\nFIFA Men’s World Cup, continued growth at Tubi, higher political advertising revenue at the FOX Television\nStations principally due to the November 2022 U.S. midterm elections, and additional NFL post-season games.\nPartially offsetting this increase was the absence of NFL Thursday Night Football (“TNF”) and lower ratings at\nthe FOX Network in the current year. The increase in other revenues was primarily due to the full year impact of\nacquisitions of entertainment production companies in fiscal 2022 and higher FOX Nation subscription\nrevenues.\nOperating expenses increased 6% for fiscal 2023, as compared to fiscal 2022, primarily due to higher\nsports programming r",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_revenue",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "14'913m revenues",
      "golden_context": "Page 46:\n\nRESULTS OF OPERATIONS\nResults of Operations—Fiscal 2023 versus Fiscal 2022\nThe following table sets forth the Company’s operating results for fiscal 2023, as compared to fiscal 2022:\nFor the years ended June 30,\n2023 2022 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 7,051 $ 6,878 $ 173 3 %\nAdvertising ................................................................ 6,606 5,900 706 12 %\nOther .......................................................................... 1,256 1,196 60 5 %\nTotal revenues ............................................................. 14,913 13,974 939 7 %\nOperating expenses .................................................... (9,689) (9,117) (572) (6) %\nSelling, general and administrative .......................... (2,049) (1,920) (129) (7) %\nDepreciation and amortization .................................. (411) (363) (48) (13) %\nImpairment and restructuring charges ..................... (111) — (111) **\nInterest expense, net .................................................. (218) (371) 153 41 %\nOther, net ...................................................................... (699) (509) (190) (37) %\nIncome before income tax expense ......................... 1,736 1,694 42 2 %\nIncome tax expense ................................................ (483) (461) (22) (5) %\nNet income ................................................................... 1,253 1,233 20 2 %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (14) (28) 14 50 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,239 $ 1,205 $ 34 3 %\n** not meaningful\nOverview—The Company’s revenues increased 7% for fiscal 2023, as compared to fiscal 2022, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher fees received from television stations that are affiliated with the FOX Network and higher average rates\nper subscriber, led by contractual rate increases on existing affiliate agreements and from affiliate agreement\nrenewals, partially offset by a lower average number of subscribers across all networks. The increase in\nadvertising revenue was primarily due to revenues resulting from the broadcasts of Super Bowl LVII and the\nFIFA Men’s World Cup, continued growth at Tubi, higher political advertising revenue at the FOX Television\nStations principally due to the November 2022 U.S. midterm elections, and additional NFL post-season games.\nPartially offsetting this increase was the absence of NFL Thursday Night Football (“TNF”) and lower ratings at\nthe FOX Network in the current year. The increase in other revenues was primarily due to the full year impact of\nacquisitions of entertainment production companies in fiscal 2022 and higher FOX Nation subscription\nrevenues.\nOperating expenses increased 6% for fiscal 2023, as compared to fiscal 2022, primarily due to higher\nsports programming r",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_revenue_growth",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "14'913m revenues, 6'878m prior year",
      "golden_context": "Page 46:\n\nRESULTS OF OPERATIONS\nResults of Operations—Fiscal 2023 versus Fiscal 2022\nThe following table sets forth the Company’s operating results for fiscal 2023, as compared to fiscal 2022:\nFor the years ended June 30,\n2023 2022 $ Change % Change\n(in millions, except %) Better/(Worse)\nRevenues\nAffiliate fee ................................................................ $ 7,051 $ 6,878 $ 173 3 %\nAdvertising ................................................................ 6,606 5,900 706 12 %\nOther .......................................................................... 1,256 1,196 60 5 %\nTotal revenues ............................................................. 14,913 13,974 939 7 %\nOperating expenses .................................................... (9,689) (9,117) (572) (6) %\nSelling, general and administrative .......................... (2,049) (1,920) (129) (7) %\nDepreciation and amortization .................................. (411) (363) (48) (13) %\nImpairment and restructuring charges ..................... (111) — (111) **\nInterest expense, net .................................................. (218) (371) 153 41 %\nOther, net ...................................................................... (699) (509) (190) (37) %\nIncome before income tax expense ......................... 1,736 1,694 42 2 %\nIncome tax expense ................................................ (483) (461) (22) (5) %\nNet income ................................................................... 1,253 1,233 20 2 %\nLess: Net income attributable to noncontrolling\ninterests ................................................................. (14) (28) 14 50 %\nNet income attributable to Fox Corporation\nstockholders ............................................................. $ 1,239 $ 1,205 $ 34 3 %\n** not meaningful\nOverview—The Company’s revenues increased 7% for fiscal 2023, as compared to fiscal 2022, due to\nhigher affiliate fee, advertising and other revenues. The increase in affiliate fee revenue was primarily due to\nhigher fees received from television stations that are affiliated with the FOX Network and higher average rates\nper subscriber, led by contractual rate increases on existing affiliate agreements and from affiliate agreement\nrenewals, partially offset by a lower average number of subscribers across all networks. The increase in\nadvertising revenue was primarily due to revenues resulting from the broadcasts of Super Bowl LVII and the\nFIFA Men’s World Cup, continued growth at Tubi, higher political advertising revenue at the FOX Television\nStations principally due to the November 2022 U.S. midterm elections, and additional NFL post-season games.\nPartially offsetting this increase was the absence of NFL Thursday Night Football (“TNF”) and lower ratings at\nthe FOX Network in the current year. The increase in other revenues was primarily due to the full year impact of\nacquisitions of entertainment production companies in fiscal 2022 and higher FOX Nation subscription\nrevenues.\nOperating expenses increased 6% for fiscal 2023, as compared to fiscal 2022, primarily due to higher\nsports programming r",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000141_segments",
      "report_id": "ID_000141",
      "company_name": "Fox",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Cable Network Programing\nTelevision\nOther, Corporate and Eliminations",
      "golden_context": "Page 9:\n\nTEM 1. BUSINESS\nBackground\nFox Corporation is a news, sports and entertainment company, which manages and reports its\nbusinesses in the following segments:\n• Cable Network Programming, which produces and licenses news and sports content distributed\nthrough traditional cable television systems, direct broadcast satellite operators and\ntelecommunication companies (“traditional MVPDs”), virtual multi-channel video programming\ndistributors (“virtual MVPDs”) and other digital platforms, primarily in the U.S.\n• Television, which produces, acquires, markets and distributes programming through the FOX\nbroadcast network, advertising supported video-on-demand (“AVOD”) service Tubi, 29 full power\nbroadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S.\nEighteen of the broadcast television stations are affiliated with the FOX Network, 10 are affiliated with\nMyNetworkTV and one is an independent station. The segment also includes various production\ncompanies that produce content for the Company and third parties.\n• Other, Corporate and Eliminations, which principally consists of the FOX Studio Lot, Credible Labs\nInc. (“Credible”), corporate overhead costs and intracompany eliminations. The FOX Studio Lot,\nlocated in Los Angeles, California, provides television and film production services along with office\nspace, studio operation services and includes all operations of the facility. Credible is a U.S.\nconsumer finance marketplace.\nUnless otherwise indicated, references in this Annual Report on Form 10-K (this “Annual Report”) for the\nfiscal year ended June 30, 2023 (“fiscal 2023”) to “FOX,” the “Company,” “we,” “us” or “our” mean Fox\nCorporation and its consolidated subsidiaries. We use the term “MVPDs” to refer collectively to traditional\nMVPDs and virtual MVPDs.\nFOX became a standalone publicly traded company on March 19, 2019, when Twenty-First Century Fox,\nInc. (“21CF”) spun off the Company to 21CF stockholders and FOX’s Class A Common Stock and Class B\nCommon Stock (collectively, the “Common Stock”) began trading on The Nasdaq Global Select Market (the\n“Transaction”). The Walt Disney Company (“Disney”) acquired the remaining 21CF assets and 21CF became a\nwholly-owned subsidiary of Disney. The Comp\n\nPage 44:\n\nOVERVIEW OF THE COMPANY’S BUSINESS\nThe Company is a news, sports and entertainment company, which manages and reports its businesses\nin the following segments:\n• Cable Network Programming, which produces and licenses news and sports content distributed\nthrough traditional cable television systems, direct broadcast satellite operators and\ntelecommunication companies (“traditional MVPDs”), virtual multi-channel video programming\ndistributors (“virtual MVPDs”) and other digital platforms, primarily in the U.S.\n• Television, which produces, acquires, markets and distributes programming through the FOX\nbroadcast network, advertising-supported video-on-demand (“AVOD”) service Tubi, 29 full power\nbroadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S.\nEighteen of the broadcast television stations are affiliated with the FOX Network, 10 are affiliated with\nMyNetworkTV and one is an independent station. The segment also includes various production\ncompanies that produce content for the Company and third parties.\n• Other, Corporate and Eliminations, which principally consists of the FOX Studio Lot, Credible Labs\nInc. (“Credible”), corporate overhead costs and intracompany eliminations. The FOX Studio Lot,\nlocated in Los Angeles, California, provides television and film production services along with office\nspace, studio operation services and includes all operations of the facility. Credible is a U.S.\nconsumer finance marketplace.\nWe use the term \"MVPDs\" to refer collectively to traditional MVPDs and virtual MVPDs.\n36",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_cash_flow",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 553.2m",
      "golden_context": "Page 29:\n\nrupted manufacturing and distribution operations across all industries, including ours,\nwhich resulted in higher costs. As a result, our sales and earnings in fiscal 2021 declined as compared to fiscal 2020, which\nincluded the benefit of an additional week (“53rd week”) of sales, earnings and cash flow. Specifically:\n Net sales declined 3% to $3,670.9 million\n Income from operations declined 15% to $474.8 million\n Net income declined 13% to $317.8 million\n Diluted earnings per share and Adjusted Diluted EPS each declined 13% and 14%, respectively, to $2.16\n Adjusted EBITDA including unconsolidated joint ventures declined 6% to $748.4 million\n Net cash provided by operating activities declined 4% to $553.2 million\nCompared with fiscal 2020, the decline in net sales was driven by lower sales volume. Our sales volume declined\nlargely due to demand for frozen potato products outside the home falling after government-imposed social restrictions to\nslow the spread of COVID-19 reduced restaurant traffic and included restrictions for on-premise dining. The decline in\nsales volume was most pronounced in our Foodservice segment, which has a higher proportion of its sales to on-premise\ndining establishments, including independent restaurants and non-commercial operations, such as lodging and hospitality,\nhealthcare, schools and universities, sports and entertainment, and workpl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_company_type",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1: \n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\nOF 1934\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nFor the fiscal year ended May 30, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the transition period from Commission File Number: 1-37830\nto\nTitle of each class\nName of each exchange on which registered\nCommon Stock, $1.00 par value New York Stock Exchange\nLAMB WESTON HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 61-1797411\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n599 S. Rivershore Lane\nEagle, Idaho 83616\n(Address of principal executive offices) (Zip Code)\n(208) 938-1047\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to section 12(b) of the Act:\nTrading\nSymbol(s) LW Securities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter)\nduring the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the\ndefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the voting common stock of Lamb Weston Holdings, Inc. held by non-affiliates as of November 27, 2020 (the last trading day of the registrant's most recently\ncompleted second fiscal quarter) was approximately $10.7 billion based upon the closing sale price of the common stock as reported on the New York Stock Exchange on such date. As of July\n19, 2021, the registrant had 146,193,864 shares of common stock, par value $1.00 per share, outstanding.\nDocuments Incorporated by Reference\nPortions of the registrant’s definitive proxy statement to be filed with the Sec",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_key_financials",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 3'670.0m, income from operations 474.8m",
      "golden_context": "Page 28-29:\nExecutive Summary\nIn fiscal 2021, we navigated the impacts of the COVID-19 pandemic on our operations and global frozen potato\ndemand, demonstrating the strength and resilience of our employees in a challenging environment. Throughout the\npandemic, our primary focus and attention has been directed towards the health and well-being of our employees and\ncontractors, while continuing to support our customers and to invest in our manufacturing, supply chain, commercial and\ninformation technology operations to meet our long-term strategic objectives.\n28\nOur fiscal 2021 financial performance reflects the negative impact on frozen potato demand in our food-away-\nfrom-home sales channels. While demand and shipment trends sequentially improved during the year in our food-away-\nfrom-home sales channels, shipments to restaurants and other foodservice outlets were below pre-pandemic levels. The\npandemic also significantly disrupted manufacturing and distribution operations across all industries, including ours,\nwhich resulted in higher costs. As a result, our sales and earnings in fiscal 2021 declined as compared to fiscal 2020, which\nincluded the benefit of an additional week (“53rd week”) of sales, earnings and cash flow. Specifically:\n Net sales declined 3% to $3,670.9 million\n Income from operations declined 15% to $474.8 million\n Net income declined 13% to $317.8 million\n Diluted earnings per share and Adjusted Diluted EPS each declined 13% and 14%, respectively, to $2.16\n Adjusted EBITDA including unconsolidated joint ventures declined 6% to $748.4 million\n Net cash provided by operating activities declined 4% to $553.2 million\nCompared with fiscal 2020, the decline in net sales was driven by lower sales volume. Our sales volume declined\nlargely due to demand for frozen potato products outside the home falling after government-imposed social restrictions to\nslow the spread of COVID-19 reduced restaurant traffic and included restrictions for on-premise dining. The decline in\nsales volume was most pronounced in our Foodservice segment, which has a higher proportion of its sales to on-premise\ndining establishments, including independent restaurants and non-commercial operations, such as lodging and hospitality,\nhealthcare, schools and universities, sports and entertainment, and workplace environments. The decline in sales volumes\nin our Global segment was less pronounced as consumers leveraged drive-thru, carry-out and delivery options at quick\nservice restaurants in the U.S. In our Retail segment, which sells products for food-at-home consumption, sales volume\nfor our branded products was strong, but this was more than offset by lower sales volume of private label products resulting\nfrom losses of certain low-margin business. Overall, our sales volume decline was partially offset by higher price/mix,\nwhich was largely due to favorable pricing in our Foodservice segment and favorable mix in our Retail segment, while\nprice/mix in our Global segment was flat.\nIn Europe, which is served by our Lamb-Weston/Meijer joint venture, sales volumes also declined as demand fell\nfollowing government-imposed social restrictions. Although a high percentage of our sales are to quick service restaurants,\nunlike the U.S., most consumption in Europe is dine-in or carry-out as drive-thru options are more limited. As a result, the\neffect of government-imposed restrictions on french fry demand in Europe was similar to what we observed for full-service\nrestaurants operations in the U.S.\nOverall international sales volumes, which are included in our Global segment, varied by market. While demand\nin many of our key markets improved as fiscal 2021 progressed, the rate of improvement generally lagged that in the U.S.\nIn addition, our exports were hindered by pandemic-related congestion at U.S. West Coast ports as well as the availability\nof shipping containers.\nIncome from operations declined due to lower sales, higher manufacturing and distribution costs, and higher\nselling, general and administrative (“SG&A”) expenses. The increase in costs was largely due to incremental costs\nresulting from the pandemic’s disruptive effect on our production, transportation, and warehousing operations, including\ncosts to address the safety and welfare of our employees and costs associated with a tighter labor market due to COVID-19\nrelated absenteeism and labor-related restrictions. The COVID-19 environment also caused freight rates to increase due to\ntighter capacity and stronger demand in the trucking and cargo container markets resulting from higher shipping volume\nof products. We also experienced higher input cost inflation, particularly for edible oils because of low supply as well as\nhigher demand for raw materials by alternative end markets, such as biofuels. Despite these challenges, we continued to\ninvest in our supply chain operations, and completed the initial phase of our new ERP system, which we expect will benefit\nour operations over the long term. We also announced capital expansions in the U.S. and China, and with our joint venture\nin Europe, announced expansions in Russia and the Netherlands.\nWe generated full-year cash from operations of $553.2 million and cash flow after investing activities, including\ninformation technology initiatives, of $390.7 million. Given the significant economic uncertainty, we took prudent and\nearly actions to reinforce and enhance our financial strength (see “Liquidity and Capital Resources” in this MD&A for\nmore information). We ended the year with $783.5 million of cash and cash equivalents and no borrowings on our\n29\nrevolving credit facility. In addition, we returned $161.0 million",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_revenue",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 3'670.9m",
      "golden_context": "Page 28-29:\nExecutive Summary\nIn fiscal 2021, we navigated the impacts of the COVID-19 pandemic on our operations and global frozen potato\ndemand, demonstrating the strength and resilience of our employees in a challenging environment. Throughout the\npandemic, our primary focus and attention has been directed towards the health and well-being of our employees and\ncontractors, while continuing to support our customers and to invest in our manufacturing, supply chain, commercial and\ninformation technology operations to meet our long-term strategic objectives.\n28\nOur fiscal 2021 financial performance reflects the negative impact on frozen potato demand in our food-away-\nfrom-home sales channels. While demand and shipment trends sequentially improved during the year in our food-away-\nfrom-home sales channels, shipments to restaurants and other foodservice outlets were below pre-pandemic levels. The\npandemic also significantly disrupted manufacturing and distribution operations across all industries, including ours,\nwhich resulted in higher costs. As a result, our sales and earnings in fiscal 2021 declined as compared to fiscal 2020, which\nincluded the benefit of an additional week (“53rd week”) of sales, earnings and cash flow. Specifically:\n Net sales declined 3% to $3,670.9 million\n Income from operations declined 15% to $474.8 million\n Net income declined 13% to $317.8 million\n Diluted earnings per share and Adjusted Diluted EPS each declined 13% and 14%, respectively, to $2.16\n Adjusted EBITDA including unconsolidated joint ventures declined 6% to $748.4 million\n Net cash provided by operating activities declined 4% to $553.2 million\nCompared with fiscal 2020, the decline in net sales was driven by lower sales volume. Our sales volume declined\nlargely due to demand for frozen potato products outside the home falling after government-imposed social restrictions to\nslow the spread of COVID-19 reduced restaurant traffic and included restrictions for on-premise dining. The decline in\nsales volume was most pronounced in our Foodservice segment, which has a higher proportion of its sales to on-premise\ndining establishments, including independent restaurants and non-commercial operations, such as lodging and hospitality,\nhealthcare, schools and universities, sports and entertainment, and workplace environments. The decline in sales volumes\nin our Global segment was less pronounced as consumers leveraged drive-thru, carry-out and delivery options at quick\nservice restaurants in the U.S. In our Retail segment, which sells products for food-at-home consumption, sales volume\nfor our branded products was strong, but this was more than offset by lower sales volume of private label products resulting\nfrom losses of certain low-margin business. Overall, our sales volume decline was partially offset by higher price/mix,\nwhich was largely due to favorable pricing in our Foodservice segment and favorable mix in our Retail segment, while\nprice/mix in our Global segment was flat.\nIn Europe, which is served by our Lamb-Weston/Meijer joint venture, sales volumes also declined as demand fell\nfollowing government-imposed social restrictions. Although a high percentage of our sales are to quick service restaurants,\nunlike the U.S., most consumption in Europe is dine-in or carry-out as drive-thru options are more limited. As a result, the\neffect of government-imposed restrictions on french fry demand in Europe was similar to what we observed for full-service\nrestaurants operations in the U.S.\nOverall international sales volumes, which are included in our Global segment, varied by market. While demand\nin many of our key markets improved as fiscal 2021 progressed, the rate of improvement generally lagged that in the U.S.\nIn addition, our exports were hindered by pandemic-related congestion at U.S. West Coast ports as well as the availability\nof shipping containers.\nIncome from operations declined due to lower sales, higher manufacturing and distribution costs, and higher\nselling, general and administrative (“SG&A”) expenses. The increase in costs was largely due to incremental costs\nresulting from the pandemic’s disruptive effect on our production, transportation, and warehousing operations, including\ncosts to address the safety and welfare of our employees and costs associated with a tighter labor market due to COVID-19\nrelated absenteeism and labor-related restrictions. The COVID-19 environment also caused freight rates to increase due to\ntighter capacity and stronger demand in the trucking and cargo container markets resulting from higher shipping volume\nof products. We also experienced higher input cost inflation, particularly for edible oils because of low supply as well as\nhigher demand for raw materials by alternative end markets, such as biofuels. Despite these challenges, we continued to\ninvest in our supply chain operations, and completed the initial phase of our new ERP system, which we expect will benefit\nour operations over the long term. We also announced capital expansions in the U.S. and China, and with our joint venture\nin Europe, announced expansions in Russia and the Netherlands.\nWe generated full-year cash from operations of $553.2 million and cash flow after investing activities, including\ninformation technology initiatives, of $390.7 million. Given the significant economic uncertainty, we took prudent and\nearly actions to reinforce and enhance our financial strength (see “Liquidity and Capital Resources” in this MD&A for\nmore information). We ended the year with $783.5 million of cash and cash equivalents and no borrowings on our\n29\nrevolving credit facility. In addition, we returned $161.0 million",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_revenue_growth",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 3'670.9m, decline of 3%",
      "golden_context": "Page 28-29:\nExecutive Summary\nIn fiscal 2021, we navigated the impacts of the COVID-19 pandemic on our operations and global frozen potato\ndemand, demonstrating the strength and resilience of our employees in a challenging environment. Throughout the\npandemic, our primary focus and attention has been directed towards the health and well-being of our employees and\ncontractors, while continuing to support our customers and to invest in our manufacturing, supply chain, commercial and\ninformation technology operations to meet our long-term strategic objectives.\n28\nOur fiscal 2021 financial performance reflects the negative impact on frozen potato demand in our food-away-\nfrom-home sales channels. While demand and shipment trends sequentially improved during the year in our food-away-\nfrom-home sales channels, shipments to restaurants and other foodservice outlets were below pre-pandemic levels. The\npandemic also significantly disrupted manufacturing and distribution operations across all industries, including ours,\nwhich resulted in higher costs. As a result, our sales and earnings in fiscal 2021 declined as compared to fiscal 2020, which\nincluded the benefit of an additional week (“53rd week”) of sales, earnings and cash flow. Specifically:\n Net sales declined 3% to $3,670.9 million\n Income from operations declined 15% to $474.8 million\n Net income declined 13% to $317.8 million\n Diluted earnings per share and Adjusted Diluted EPS each declined 13% and 14%, respectively, to $2.16\n Adjusted EBITDA including unconsolidated joint ventures declined 6% to $748.4 million\n Net cash provided by operating activities declined 4% to $553.2 million\nCompared with fiscal 2020, the decline in net sales was driven by lower sales volume. Our sales volume declined\nlargely due to demand for frozen potato products outside the home falling after government-imposed social restrictions to\nslow the spread of COVID-19 reduced restaurant traffic and included restrictions for on-premise dining. The decline in\nsales volume was most pronounced in our Foodservice segment, which has a higher proportion of its sales to on-premise\ndining establishments, including independent restaurants and non-commercial operations, such as lodging and hospitality,\nhealthcare, schools and universities, sports and entertainment, and workplace environments. The decline in sales volumes\nin our Global segment was less pronounced as consumers leveraged drive-thru, carry-out and delivery options at quick\nservice restaurants in the U.S. In our Retail segment, which sells products for food-at-home consumption, sales volume\nfor our branded products was strong, but this was more than offset by lower sales volume of private label products resulting\nfrom losses of certain low-margin business. Overall, our sales volume decline was partially offset by higher price/mix,\nwhich was largely due to favorable pricing in our Foodservice segment and favorable mix in our Retail segment, while\nprice/mix in our Global segment was flat.\nIn Europe, which is served by our Lamb-Weston/Meijer joint venture, sales volumes also declined as demand fell\nfollowing government-imposed social restrictions. Although a high percentage of our sales are to quick service restaurants,\nunlike the U.S., most consumption in Europe is dine-in or carry-out as drive-thru options are more limited. As a result, the\neffect of government-imposed restrictions on french fry demand in Europe was similar to what we observed for full-service\nrestaurants operations in the U.S.\nOverall international sales volumes, which are included in our Global segment, varied by market. While demand\nin many of our key markets improved as fiscal 2021 progressed, the rate of improvement generally lagged that in the U.S.\nIn addition, our exports were hindered by pandemic-related congestion at U.S. West Coast ports as well as the availability\nof shipping containers.\nIncome from operations declined due to lower sales, higher manufacturing and distribution costs, and higher\nselling, general and administrative (“SG&A”) expenses. The increase in costs was largely due to incremental costs\nresulting from the pandemic’s disruptive effect on our production, transportation, and warehousing operations, including\ncosts to address the safety and welfare of our employees and costs associated with a tighter labor market due to COVID-19\nrelated absenteeism and labor-related restrictions. The COVID-19 environment also caused freight rates to increase due to\ntighter capacity and stronger demand in the trucking and cargo container markets resulting from higher shipping volume\nof products. We also experienced higher input cost inflation, particularly for edible oils because of low supply as well as\nhigher demand for raw materials by alternative end markets, such as biofuels. Despite these challenges, we continued to\ninvest in our supply chain operations, and completed the initial phase of our new ERP system, which we expect will benefit\nour operations over the long term. We also announced capital expansions in the U.S. and China, and with our joint venture\nin Europe, announced expansions in Russia and the Netherlands.\nWe generated full-year cash from operations of $553.2 million and cash flow after investing activities, including\ninformation technology initiatives, of $390.7 million. Given the significant economic uncertainty, we took prudent and\nearly actions to reinforce and enhance our financial strength (see “Liquidity and Capital Resources” in this MD&A for\nmore information). We ended the year with $783.5 million of cash and cash equivalents and no borrowings on our\n29\nrevolving credit facility. In addition, we returned $161.0 million",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000142_segments",
      "report_id": "ID_000142",
      "company_name": "Lamb Weston Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Global, Foodservice, Retail, and Other",
      "golden_context": "Page 4:\n\n assessed the impact that COVID-19 has had on our estimates, assumptions, and forecasts, and made additional\ndisclosures, as necessary. As the COVID-19 situation is unprecedented and continues to persist, future events and effects\nrelated to the virus cannot be determined with precision, and actual results could significantly differ from estimates or\nforecasts.\nSee “Item 1A. Risk Factors” and “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition\nand Results of Operations” of this Form 10-K for further discussion of COVID-19 considerations.\nSegments\nWe have four reportable segments: Global, Foodservice, Retail, and Other. For segment financial information see\nNote 14, Segments, of the Notes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and\nSupplementary Data” of this Form 10-K.\nGlobal\nOur Global segment includes frozen potato products sold in North America and international markets generally\nto the top 100 North American based restaurant chains and international customers comprised of global and regional quick\nservice and full-service restaurant chains, foodservice distributors, and retailers. We have included foodservice and retail\ncustomers outside of North America in the Global segment due to efficiencies associated with coordinating sales to all\ncustomer types within specific markets, as well as due to these customers’ smaller scale and dependence on local economic\nconditions. The Global segment’s product portfolio includes frozen potatoes and appetizers sold under the Lamb Weston\nbrand, as well as many customer labels.\nFoodservice\nOur Foodservice segment includes frozen potato products sold throughout the United States and Canada to\ncommercial distributors, restaurant chains generally outside the top 100 North American based restaurant chains, and non-\ncommercial channels. The Foodservice segment’s primary products are frozen potatoes, commercial ingredients, and\nappetizers sold under the Lamb Weston brand, as well as many customer labels.\nRetail\nOur Retail segment includes consumer facing frozen potato products sold primarily to grocery, mass merchants,\nclub, and specialty retailers. The Retail segment’s primary products are frozen potatoes sold under our owned or licensed\nbrands, including Grown in Idaho and Alexia, other licensed equities comprised of brand names of major North American\nrestaurant chains, and the retailers’ own brands.\nOther\nThe Other reporting segment primarily includes our vegetable and dairy businesses, as well as mark-to-market\ngains and losses associated with commodity hedging contracts before the commodities are used in our business segments.\nJoint Venture Relationships\nWe conduct some of our business through three unconsolidated joint ventures and include our share of the\nearnings of these affiliates as equity method investment earnings in our consolidated financial statements based on our\n4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_cash_flow",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "418.1m cash flow from operations",
      "golden_context": "Page 31:\n\nponse to the war in Ukraine, as well as a loss of $53.3 million ($40.5 million after-tax or $0.27 per share)\nassociated with a transaction to lower the interest rates and extend the maturities on some outstanding debt (see\nLiquidity and Capital Resources below).\nWe generated full-year cash from operations of $418.1 million and cash flow after investing activities of $107.6\nmillion. We ended the year with $525.0 million of cash and cash equivalents and no borrowings on our revolving credit\nfacility. In addition, we returned $289.1 million to our stockholders, including $138.4 million in cash dividends and $150.7\nmillion of share repurchases. In July 2022, we used approximately $42 million to acquire an additional forty percent\ninterest in our joint venture in Argentina, LWAMSA, increasing our total ownership from fifty percent to ninety percent.\nFollowing the acquisition, we will consolidate LWAMSA’s results in our consolidated financial statements.\nOutlook\nIn fiscal 2023, we expect price/mix to increase largely due to pricing actions that we began to implement in fiscal\n2022 in an effort to mitigate manufacturing and distribution cost inflation. We also expect sales volumes to grow largely\ndue to the expected continuation in the rise of U.S. demand for frozen potato products, although our volume growth may\nbe tempered by production capacity and logistics constraints. In addition, we expect that U.S. restaurant traffic, demand,\nand volume growth may be increasingly volatile as consumers respond to the current inflationary environment. We expect\nthe rate of recovery of demand in our key international markets will be mixed, and that our international shipments will\ncontinue to be tempered by limited shipping container availability and disruptions to ocean freight networks.\nDuring the first half of fiscal 2023, we expect our gross margins will be pressured as compared to normalized\nseasonal rates as we continue to manage through significant inflation as well as higher raw potato costs on a per pound\nbasis due to the impact of extreme summer heat th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_company_type",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended May 29, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-37830\nLAMB WESTON HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 61-1797411\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n599 S. Rivershore Lane\nEagle, Idaho 83616\n(Address of principal executive offices) (Zip Code)\nTitle of each class\nCommon Stock, $1.00 par value Name of each exchange on which registered\nNew York Stock Exchange\n(208) 938-1047\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to section 12(b) of the Act:\nTrading\nSymbol(s) LW Securities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of\n“large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b)\nof the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the voting common stock of Lamb Weston Holdings, Inc. held by non-affiliates as of November 26, 2021 (the last trading day of the registrant's most recently completed\nsecond fiscal quarter) was approximately $7.6 billion based upon the closing sale price of the common stock as reported on the New York Stock Exchange on such date. As of July 18, 2022, the\nregistrant had 143,748,274 shares of common stock, par value $ 1.00 per share, outstanding.\nDocuments Incorporated by Reference\nPortions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission in connection with its 2022 Annual Meeting of ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_key_financials",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "4098.9m net sales, 832m gross profit",
      "golden_context": "Page 33:\n\ngin business, as well as lower shipments of branded products, drove the sales volume decline.\nThe decline in branded product volume reflected an inability to fully serve customer demand due to lower production run-\nrates and throughput in our production facilities. Product and freight pricing actions across the branded and private label\nportfolios to offset inflation, as well as improved mix, drove the increase in price/mix.\nNet sales in our Other segment declined $16.8 million, or 12%, to $121.9 million, compared with $138.7 million in\nfiscal 2021. The decline primarily reflects lower volume in our vegetable business, reflecting the negative effect of the\nextreme summer heat on the yield and quality of the vegetable crops, partially offset by the benefit of pricing actions.\nGross Profit and Product Contribution Margin\nGross profit in fiscal 2022 was flat compared to fiscal 2021 at $832.0 million, as the benefits from higher price/mix\nand volume were offset by the impact of higher manufacturing and distribution costs on a per pound basis. The higher\ncosts per pound primarily reflected double-digit cost inflation from key inputs, including: edible oils; ingredients such as\ngrains and starches used in product coatings; packaging; labor; and higher transportation costs. The increase in costs\nper pound also reflected higher raw potato costs due to the impact of extreme summer heat that negatively affected the\nyield and quality of potato crops in the Pacific Northwest in fall 2021, the effects of labor and commodities shortages on\nproduction run-rates, as well as lower raw potato utilization rates. The increase in per pound costs was partially offset by\nsecuring changes to product specifications, portfolio simplification, and driving supply chain savings behind our Win as 1\nproductivity program. Gross profit also included a $28.9 million decrease in unrealized mark-to-market adjustments\nassociated with commodity hedging contracts, which includes a $9.5 million loss in the current year, compared with a\n$19.4 million gain related to these items in the prior year.\nLamb Weston’s overall product contribution margin in fiscal 2022 declined $1.1 million to $813.1 million,\ncompared with $814.2 million in fiscal 2021. The decline was largely due to a $1.1 million increase in A&P expenses as\ngross profit was flat (as described above).\nGlobal product contribution margin declined $54.0 million, or 18%, to $252.2 million in fiscal 2022. Higher\nmanufacturing and distribution costs per pound more than offset the benefit of favorable price/mix and higher sales\nvolumes. Global segment cost of sales was $1,806.6 million, up 13% compared to fiscal 2021, primarily due to higher\nmanufacturing and distribution costs and higher sales volumes.\nFoodservice product contribution margin increased $109.3 million, or 32%, to $449.3 million in fiscal 2022.\nFavorable price, volume and mix drove the increase, and were partially offset by higher manufacturing and distribution\ncosts per pound. Cost of sales was $863.8 million, up 28% compared to fiscal 2021, primarily due to higher manufacturing\nand distribution costs and higher sales volumes.\nRetail product contribution margin declined $10.8 million, or 9%, to $109.4 million in fiscal 2022. Higher\nmanufacturing and distribution costs per pound and lower sales volumes drove the decline, partially offset by favorable\nprice/mix and a $0.8 million decrease in A&P expenses. Cos",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_revenue",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "4098.9m",
      "golden_context": "Page 32:\n\n Operations\nWe have four reportable segments: Global, Foodservice, Retail, and Other. We report net sales and product\ncontribution margin by segment and on a consolidated basis. Product contribution margin, when presented on a\nconsolidated basis, is a non-GAAP financial measure. Net sales and product contribution margin are the primary\nmeasures reported to our chief operating decision maker for purposes of allocating resources to our segments and\nassessing their performance. Product contribution margin represents net sales less cost of sales and advertising and\npromotion (“A&P”) expenses. Product contribution margin includes advertising and promotion expenses because those\nexpenses are directly associated with the performance of our segments. For additional information on our reportable\nsegments and product contribution margin, see “Non-GAAP Financial Measures” below and Note 13, Segments, of the\nNotes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and Supplementary Data” in this\nForm 10-K.\nFiscal Year Ended May 29, 2022 Compared to Fiscal Year Ended May 30, 2021\nNet Sales and Product Contribution Margin\nYear Ended\nMay 29, May 30, %\n(in millions, except percentages) 2022 2021 Inc/(Dec)\nSegment net sales\nGlobal $ 2,064.2 $ 1,911.5 8%\nFoodservice 1,318.2 1,017.3 30%\nRetail 594.6 603.4 (1%)\nOther 121.9 138.7 (12%)\n$ 4,098.9 $ 3,670.9 12%\nSegment product contribution margin\nGlobal $ 252.2 $ 306.2 (18%)\nFoodservice 449.3 340.0 32%\nRetail 109.4 120.2 (9%)\nOther 2.2 47.8 (95%)\n813.1 814.2 0%\nAdd: Advertising and promotion expenses 18.9 17.8 6%\nGross profit $ 832.0 $ 832.0 0%\nNet Sales\nLamb Weston’s net sales for fiscal 2022 increased $428.0 million, or 12%, to $4,098.9 million, compared with\n$3,670.9 million in fiscal 2021. Price/mix increased 9%, primarily reflecting the benefit of pricing actions across each of\nour business segments to offset input, manufacturing, and transportation cost inflation, as well as favorable mix. Volume\nincreased 3%, reflecting higher shipments to restaurant and foodservice channels in North America, partially offset by\nlower exports due to limited shipping container availability and disruptions to ocean freight networks, as well as lower\nshipments to retail channels. Our volume growth was tempered by an inability to fully serve customer demand due to\nwidespread industry supply chain constraints, including labor and commodities shortages, that resulted in lower\nproduction run-rates and throughput in our production facilities.\nGlobal net sales increased $152.7 million, or 8%, to $2,064.2 million, compared with $1,911.5 million in fiscal\n2021. Price/mix increase",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_revenue_growth",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "4098.9m, prior 3670.9m",
      "golden_context": "Page 32:\n\n Operations\nWe have four reportable segments: Global, Foodservice, Retail, and Other. We report net sales and product\ncontribution margin by segment and on a consolidated basis. Product contribution margin, when presented on a\nconsolidated basis, is a non-GAAP financial measure. Net sales and product contribution margin are the primary\nmeasures reported to our chief operating decision maker for purposes of allocating resources to our segments and\nassessing their performance. Product contribution margin represents net sales less cost of sales and advertising and\npromotion (“A&P”) expenses. Product contribution margin includes advertising and promotion expenses because those\nexpenses are directly associated with the performance of our segments. For additional information on our reportable\nsegments and product contribution margin, see “Non-GAAP Financial Measures” below and Note 13, Segments, of the\nNotes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and Supplementary Data” in this\nForm 10-K.\nFiscal Year Ended May 29, 2022 Compared to Fiscal Year Ended May 30, 2021\nNet Sales and Product Contribution Margin\nYear Ended\nMay 29, May 30, %\n(in millions, except percentages) 2022 2021 Inc/(Dec)\nSegment net sales\nGlobal $ 2,064.2 $ 1,911.5 8%\nFoodservice 1,318.2 1,017.3 30%\nRetail 594.6 603.4 (1%)\nOther 121.9 138.7 (12%)\n$ 4,098.9 $ 3,670.9 12%\nSegment product contribution margin\nGlobal $ 252.2 $ 306.2 (18%)\nFoodservice 449.3 340.0 32%\nRetail 109.4 120.2 (9%)\nOther 2.2 47.8 (95%)\n813.1 814.2 0%\nAdd: Advertising and promotion expenses 18.9 17.8 6%\nGross profit $ 832.0 $ 832.0 0%\nNet Sales\nLamb Weston’s net sales for fiscal 2022 increased $428.0 million, or 12%, to $4,098.9 million, compared with\n$3,670.9 million in fiscal 2021. Price/mix increased 9%, primarily reflecting the benefit of pricing actions across each of\nour business segments to offset input, manufacturing, and transportation cost inflation, as well as favorable mix. Volume\nincreased 3%, reflecting higher shipments to restaurant and foodservice channels in North America, partially offset by\nlower exports due to limited shipping container availability and disruptions to ocean freight networks, as well as lower\nshipments to retail channels. Our volume growth was tempered by an inability to fully serve customer demand due to\nwidespread industry supply chain constraints, including labor and commodities shortages, that resulted in lower\nproduction run-rates and throughput in our production facilities.\nGlobal net sales increased $152.7 million, or 8%, to $2,064.2 million, compared with $1,911.5 million in fiscal\n2021. Price/mix increase",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000143_segments",
      "report_id": "ID_000143",
      "company_name": "Lamb Weston Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Global, Foodservice, Retail, and Other",
      "golden_context": "Page 6:\n\negments\nWe have four reportable segments: Global, Foodservice, Retail, and Other. For segment financial information\nsee Note 13, Segments, of the Notes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and\nSupplementary Data” of this Form 10-K.\nGlobal\nOur Global segment includes frozen potato products sold in North America and international markets generally to\nthe top 100 North American based restaurant chains and international customers comprised of global and regional quick\nservice and full-service restaurant chains, foodservice distributors, and retailers. We have included foodservice and retail\ncustomers outside of North America in the Global segment due to efficiencies associated with coordinating sales to all\ncustomer types within specific markets, as well as due to these customers’ smaller scale and dependence on local\neconomic conditions. The Global segment’s product portfolio includes frozen potatoes and appetizers sold under the\nLamb Weston brand, as well as many customer labels.\nFoodservice\nOur Foodservice segment includes frozen potato products sold throughout the U.S. and Canada to commercial\ndistributors, restaurant chains generally outside the top 100 North American based restaurant chains, and non-\ncommercial channels. The Foodservice segment’s primary products are frozen potatoes, commercial ingredients, and\nappetizers sold under the Lamb Weston brand, as well as many customer labels.\nRetail\nOur Retail segment includes consumer-facing frozen potato products sold primarily to grocery, mass merchants,\nclub, and specialty retailers. The Retail segment’s primary products are frozen potatoes sold under our owned or licensed\nbrands, including Grown in Idaho and Alexia, other licensed equities comprised of brand names of major North American\nrestaurant chains, and the retailers’ own brands.\nOther\nThe Other reporting segment primarily includes our vegetable and dairy businesses, as well as unrealized to-market adjustments associated with commodity hedging contracts.\nmark-\nJoint Venture Relationships\nWe conduct some of our business through three unconsolidated joint ventures and include our share of the\nearnings of these affiliates as equity method investment earnings in our consolidated financial statements based on our\neconomic ownership interest in each of these joint ventures. These joint ventures produce and market value-added frozen\npotato products for our customers:\n● We hold a fifty percent ownership interest in Lamb-Weston/Meijer v.o.f. (“LWM”), a joint venture with Meijer\nFrozen Foods B.V., that is headquartered in the Netherlands and manufactures and sells frozen potato\nproducts principally in Europe and the Middle East.\n● We hold a fifty percent ownership interest in Lamb-Weston/RDO Frozen (“Lamb Weston RDO”), a joint\nventure with RDO Frozen Co., that operates a single potato processing facility in the U.S. We provide all\nsales and marketing services to Lamb Weston RDO and receive a fee for these services based on a\npercentage of the net sales of the venture.\n● During fiscal 2022, we held a fifty percent ownership interest in Lamb Weston Alimentos Modernos S.A.\n(“LWAMSA”), a joint venture with Selprey S.A., a wholly owned subsidiary of Sociedad Comercial del Plata\nS.A., that is headquartered in Argentina. LWAMSA manufactures and sells frozen potato products",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_cash_flow",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Net cash from operating activities of 761.7m",
      "golden_context": "Page 35:\n\nmer and product mix by exiting certain lower-priced and lower-margin\nbusiness. To a lesser extent, sales volumes towards the end of fiscal 2023 were also negatively affected by softening\ntraffic in casual dining and full-service restaurant channels (which largely impacted our Foodservice segment), certain\ninternational customers reverting to pre-Covid inventory practices (impacted our Global segment), and certain customers\nin select U.S. retail channels temporarily lowering prices to reduce private label inventories (impacted our Retail\nsegment). Outside of North America, frozen potato demand varied, although restaurant traffic trends in our key markets,\nincluding Europe, generally softened as customers and consumers both faced similar or more severe macroeconomic\nenvironments, including persistent inflation and rising interest rates, than in the U.S.\nGross profit in fiscal 2023 increased as favorable price/mix more than offset higher manufacturing costs on a per\npound basis and the impact of lower sales volumes. Incremental earnings from the consolidation of the financial results of\nLW EMEA beginning in the fiscal fourth quarter also contributed to the increase. Increased gross profit was partially offset\nby higher selling, general and administrative (“SG&A”) expenses, resulting in the increase in income from operations.\nHigher income from operations drove the increase in net income and diluted EPS.\nIn fiscal 2023, we generated net cash from operating activities of $761.7 million, up $343.1 million versus the\nprior year, due to higher earnings, partially offset by increased working capital. We ended fiscal 2023 with $304.8 million\nof cash and cash equivalents and a $1.0 billion undrawn U.S. revolving credit facility. In addition, we returned $191.1\nmillion to our stockholders, including $146.1 million in cash dividends and $45.0 million of share repurchases.\nOutlook\nIn fiscal 2024, we expect to deliver net sales and earnings growth, and to benefit from incremental sales and\nearnings during the first three quarters of the fiscal year attributable to the consolidation of the financial results of LW\nEMEA, as compared to the first three quarters of fiscal 2023. In addition to the incremental sales for the consolidation of\nLW EMEA, we expect our net sales growth to be largely driven by pricing actions (which may be more modest than fiscal\n2023) to counter input cost inflation, and expect sales volumes will be pressured by our continued efforts to strategically\nmanage our customer and product mix by exiting certain lower-priced and lower-margin business. We also anticipate that\ndemand for our products in the near term may be tempered by ongoing softening restaurant traffic trends in the U.S. and\nother key markets as our customers and consumers both respond",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_company_type",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended May 28, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-37830\nTitle of each class\nCommon Stock, $1.00 par value Name of each exchange on which registered\nNew York Stock Exchange\nLAMB WESTON HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 61-1797411\n(State or other jurisdiction of\nincorporation or organization)\n599 S. Rivershore Lane\n(Address of principal executive offices) (I.R.S. Employer\nIdentification No.)\nEagle, Idaho 83616\n(Zip Code)\n(208) 938-1047\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to section 12(b) of the Act:\nTrading\nSymbol(s) LW Securities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of\n“large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_key_financials",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net cash from operating activities of 761.7m",
      "golden_context": "Page 35:\n\nmer and product mix by exiting certain lower-priced and lower-margin\nbusiness. To a lesser extent, sales volumes towards the end of fiscal 2023 were also negatively affected by softening\ntraffic in casual dining and full-service restaurant channels (which largely impacted our Foodservice segment), certain\ninternational customers reverting to pre-Covid inventory practices (impacted our Global segment), and certain customers\nin select U.S. retail channels temporarily lowering prices to reduce private label inventories (impacted our Retail\nsegment). Outside of North America, frozen potato demand varied, although restaurant traffic trends in our key markets,\nincluding Europe, generally softened as customers and consumers both faced similar or more severe macroeconomic\nenvironments, including persistent inflation and rising interest rates, than in the U.S.\nGross profit in fiscal 2023 increased as favorable price/mix more than offset higher manufacturing costs on a per\npound basis and the impact of lower sales volumes. Incremental earnings from the consolidation of the financial results of\nLW EMEA beginning in the fiscal fourth quarter also contributed to the increase. Increased gross profit was partially offset\nby higher selling, general and administrative (“SG&A”) expenses, resulting in the increase in income from operations.\nHigher income from operations drove the increase in net income and diluted EPS.\nIn fiscal 2023, we generated net cash from operating activities of $761.7 million, up $343.1 million versus the\nprior year, due to higher earnings, partially offset by increased working capital. We ended fiscal 2023 with $304.8 million\nof cash and cash equivalents and a $1.0 billion undrawn U.S. revolving credit facility. In addition, we returned $191.1\nmillion to our stockholders, including $146.1 million in cash dividends and $45.0 million of share repurchases.\nOutlook\nIn fiscal 2024, we expect to deliver net sales and earnings growth, and to benefit from incremental sales and\nearnings during the first three quarters of the fiscal year attributable to the consolidation of the financial results of LW\nEMEA, as compared to the first three quarters of fiscal 2023. In addition to the incremental sales for the consolidation of\nLW EMEA, we expect our net sales growth to be largely driven by pricing actions (which may be more modest than fiscal\n2023) to counter input cost inflation, and expect sales volumes will be pressured by our continued efforts to strategically\nmanage our customer and product mix by exiting certain lower-priced and lower-margin business. We also anticipate that\ndemand for our products in the near term may be tempered by ongoing softening restaurant traffic trends in the U.S. and\nother key markets as our customers and consumers both respond",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_revenue",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 5350.0m",
      "golden_context": "Page 36:\n\nstments to upgrade our information systems and enterprise resource planning (“ERP”)\ninfrastructure, the non-cash amortization of intangible assets associated with the LW EMEA Acquisition as well as prior\ninvestments in our ERP infrastructure, and higher compensation and benefits expense due to increased headcount.\nWe believe in the long-term growth outlook for the frozen potato category and that Lamb Weston is well-\npositioned to drive sustainable, profitable growth, and to better serve customers around the world as we leverage the\ncommercial and operational benefits of LW EMEA, as well as our previously announced capacity expansion investments\nin China, the U.S., Argentina, and the Netherlands.\nResults of Operations\nFiscal Year Ended May 28, 2023 Compared to Fiscal Year Ended May 29, 2022\nNet Sales, Gross Profit, and Product Contribution Margin\nYear Ended\nMay 28, May 29, %\n(in millions, except percentages) 2023 2022 Increase (Decrease)\nSegment net sales\nGlobal $ 2,934.4 $ 2,064.2 42%\nFoodservice 1,489.1 1,318.2 13%\nRetail 797.7 594.6 34%\nOther 129.4 121.9 6%\n$ 5,350.6 $ 4,098.9 31%\nSegment product contribution margin\nGlobal $ 595.5 $ 252.2 136%\nFoodservice 551.0 449.3 23%\nRetail 280.1 109.4 156%\nOther (28.9) 2.2 (1,414%)\n1,397.7 813.1 72%\nAdd: Advertising and promotion expenses 34.4 18.9 82%\nGross profit $ 1,432.1 $ 832.0 72%\nNet Sales\nLamb Weston’s net sales for fiscal 2023 increased $1,251.7 million, or 31%, to $5,350.6 million, and included\n$421.0 million of incremental sales attributable to the consolidation of the financial results of LW EMEA and LWAMSA\nbeginning in our fiscal fourth and first quarters, respectively. Net sales, excluding the incremental sales attributable to the\nAcquisitions, increased 20% versus the prior year. Price/mix increased 26%, reflecting the benefit of pricing actions\nacross each of our core business segments to counter input and manufact",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_revenue_growth",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 5350.9m, prior year: 4098.9m",
      "golden_context": "Page 36:\n\nstments to upgrade our information systems and enterprise resource planning (“ERP”)\ninfrastructure, the non-cash amortization of intangible assets associated with the LW EMEA Acquisition as well as prior\ninvestments in our ERP infrastructure, and higher compensation and benefits expense due to increased headcount.\nWe believe in the long-term growth outlook for the frozen potato category and that Lamb Weston is well-\npositioned to drive sustainable, profitable growth, and to better serve customers around the world as we leverage the\ncommercial and operational benefits of LW EMEA, as well as our previously announced capacity expansion investments\nin China, the U.S., Argentina, and the Netherlands.\nResults of Operations\nFiscal Year Ended May 28, 2023 Compared to Fiscal Year Ended May 29, 2022\nNet Sales, Gross Profit, and Product Contribution Margin\nYear Ended\nMay 28, May 29, %\n(in millions, except percentages) 2023 2022 Increase (Decrease)\nSegment net sales\nGlobal $ 2,934.4 $ 2,064.2 42%\nFoodservice 1,489.1 1,318.2 13%\nRetail 797.7 594.6 34%\nOther 129.4 121.9 6%\n$ 5,350.6 $ 4,098.9 31%\nSegment product contribution margin\nGlobal $ 595.5 $ 252.2 136%\nFoodservice 551.0 449.3 23%\nRetail 280.1 109.4 156%\nOther (28.9) 2.2 (1,414%)\n1,397.7 813.1 72%\nAdd: Advertising and promotion expenses 34.4 18.9 82%\nGross profit $ 1,432.1 $ 832.0 72%\nNet Sales\nLamb Weston’s net sales for fiscal 2023 increased $1,251.7 million, or 31%, to $5,350.6 million, and included\n$421.0 million of incremental sales attributable to the consolidation of the financial results of LW EMEA and LWAMSA\nbeginning in our fiscal fourth and first quarters, respectively. Net sales, excluding the incremental sales attributable to the\nAcquisitions, increased 20% versus the prior year. Price/mix increased 26%, reflecting the benefit of pricing actions\nacross each of our core business segments to counter input and manufact",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000144_segments",
      "report_id": "ID_000144",
      "company_name": "Lamb Weston Holdings",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Global, Foodservice, Retail, and Other",
      "golden_context": "Page 6:\n\nSegments\nIn July 2022, we acquired an additional 40 percent interest in Lamb Weston Alimentos Modernos S.A.\n(“LWAMSA”), our joint venture in Argentina, and, in February 2023, we acquired the remaining equity interest in LW\nEMEA, our joint venture in Europe. With the completion of the transactions, we own 90 percent and 100 percent of the\nequity interests in LWAMSA and LW EMEA, respectively. Accordingly, we consolidated LWAMSA’s and LW EMEA’s\nfinancial results in our consolidated financial statements beginning in our fiscal first and fourth quarters, respectively. The\nresults are included in our Global segment.\nDuring fiscal 2023, we had four reportable segments: Global, Foodservice, Retail, and Other. For further segment\nand financial information, see “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results\nof Operations” and Note 13, Segments, of the Notes to Consolidated Financial Statements in “Part II, Item 8. Financial\nStatements and Supplementary Data” of this Form 10-K.\nEffective May 29, 2023, in connection with our recent acquisitions and to align with our expanded global footprint,\nour management, including our chief executive officer, who is our chief operating decision maker, began managing our\noperations as two business segments based on management’s change to the way it monitors performance, aligns\nstrategies, and allocates resources. This resulted in a change from four reportable segments to two (North America and\nInternational), effective the beginning of fiscal 2024.\nGlobal\nOur Global segment includes frozen potato products sold in North America and international markets generally to\nthe top 100 North American based restaurant chains and international customers comprised of global and regional quick\nservice and full-service restaurant chains, foodservice distributors, and retailers. We have included foodservice and retail\ncustomers outside of North America in the Global segment due to efficiencies associated with coordinating sales to all\ncustomer types within specific markets, as well as due to these customers’ smaller scale and dependence on local\neconomic conditions. The Global segment’s product portfolio includes frozen potatoes and appetizers sold under the\nLamb Weston brand, as well as many customer labels.\nFoodservice\nOur Foodservice segment includes frozen potato products sold throughout the U.S. and Canada to commercial\ndistributors, restaurant chains generally outside the top 100 North American based restaurant chains, and non-\ncommercial channels. The Foodservice segment’s primary products are frozen potatoes, commercial ingredients, and\nappetizers sold under the Lamb Weston brand, as well as many customer labels.\nRetail\nOur Retail segment includes consumer-facing frozen potato products sold primarily to grocery, mass merchants,\nclub, and specialty retailers. The Retail segment’s primary products are frozen potatoes sold under our owned or licensed\nbrands, including Grown in Idaho and Alexia, other licensed equities comprised of brand names of major North American\nrestaurant chains, and the retailers’ own brands.\nOther\nThe Other reporting segment primarily includes our vegetable and dairy businesses, as well as unrealized to-market adjustments associated with commodity hedging contracts.\nmark-\nJoint Venture Relationships\nWe hold a 50 percent ownership interest in Lamb-Weston/RDO Frozen (“Lamb",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_cash_flow",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating activities 433m, investing -649m, financing 142m",
      "golden_context": "Page 65:\n\nCash Flows\nFiscal Year Ended June 30, 2021 Compared to the Fiscal Year Ended June 30, 2020\nThe following table summarizes our consolidated statements of cash flows for the fiscal year ended June 30, 2021\ncompared with the fiscal year ended June 30, 2020:\nFiscal Year Ended\nJune 30,\n2021 2020 Change $\n$ 433 $ 440 $ (7)\n$ (649) $ (827) $ 178\n$ 142 $ 1,002 $ (860)\n(Dollars in millions) Net cash provided by (used in):\nOperating activities Investing activities Financing activities Operating Activities\nFor the fiscal year ended June 30, 2021, cash provided by operating activities was $433 million, a decrease of $7 million\ncompared to $440 million for the prior year. Cash flow provided by operating activities for the fiscal year ended June 30, 2021\nincreased primarily due to an increase in operating earnings, which increased from $394 million in fiscal 2020 to $828 million\nin fiscal 2021. The increase in cash proceeds from higher operating earnings was partially offset by an unfavorable working\ncapital impact, which included an unfavorable impact from inventory due to an increase of materials on-hand to assure adequate\nsupply during the COVID-19 pandemic, an increase in in-process inventory, and unfavorable timing for the collection of trade\naccounts receivable.\nInvesting Activities\nFor the fiscal year ended June 30, 2021, cash used in investing activities was $649 million, compared to $827 million\nduring fiscal 2020. The decrease in cash used in investing activities was attributable to a $266 million increase in proceeds\nfrom the sale of subsidiaries and a $232 million decrease in payments for acquisitions, which were partially offset by a $206\nmillion increase in cash used in purchases of property, plant, and equipment. In fiscal 2021, we received $287 million in net\nproceeds from the divestiture of our Blow-Fill-Seal Business.\nIn fiscal 2021, we paid $147 million of cash for the Skeletal, Delphi, and Acorda acquisitions. In fiscal 2020, we paid\n$379 million of cash for the MaSTherCell and Anagni acquisitions, net of cash acquired.\nFinancing Activities\nFor the fiscal year ended June 30, 2021, cash provided by financing activities was $142 million, which decreased $860\nmillion compared to cash provided by financing activities of $1.00 billion during the fiscal year ended June 30, 2020. The\ndecrease in cash provided by financing activities was primarily driven by a $964 million decrease in net proceeds from equity\nofferings, which was partially offset by a $38 million increase in cash received from the exercise of stock options compared to\nthe prior year.\nDebt and Financing Arrangements\nSenior Secured Credit Facilities and Fifth Amendment to the Credit Agreement\nIn February 2021, we completed",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_company_type",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\ný ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2021\nor\n¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-36587\nCATALENT, INC.\n(Exact name of registrant as specified in its charter)\nName of each exchange on which registered\nNew York Stock Exchange\nDelaware 20-8737688\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n14 Schoolhouse Road\n08873\nSomerset, New Jersey\n(Address of principal executive offices) (Zip Code)\nTitle of each class Common Stock, $0.01 par value per share Registrant’s telephone number, including area code: (732) 537-6200\n____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) CTLT Securities registered pursuant to Section 12(g) of the Act: None\n____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting\ncompany, or an emerging growth company. See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company”\nLarge accelerated filer ý Non-accelerated filer ¨ and“emerging growth company” in Rule 12b-2 of the Exchange Act.\nAccelerated filer ¨\nSmaller reporting company ¨\nEmerging growth company ¨\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the A",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_key_financials",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "EBITDA 1bn, adjusted net income per diluted share was 3.04",
      "golden_context": "Page 3:\n\nInvesting in Growth\nIn fiscal 2020, we dedicated significant resources\ntoward continued, long-term organic growth.\nSpecifically, we significantly expanded our global\ndrug product capacity, completed the build out\nof ten suites at our U.S. gene therapy commercial\nmanufacturing campus and began construction\nof five additional suites, advanced our European\ncommercial buildout in cell therapy, invested\nin cryogenic capabilities for clinical supplies\nservices, and worked toward the future launch\nof our unique Zydis‰ Ultra dosage form.\nIn total, our capital investments, which were\nprincipally directed to organic growth projects\nin our Biologics segment, totaled $686 million in\nfiscal 2021, a record level for the company and a\n47% increase over the fiscal 2020 total of $466\nmillion. We expect to continue our current pace\nof organic growth investments in fiscal 2022,\nwhich include the first phase of a planned $100\nmillion expansion program to add biologics drug\nsubstance manufacturing capabilities in Europe.\nIn addition to organic investments, we also\ncontinued to acquire companies and other assets\nto build platforms for future growth. Acquisitions\nin fiscal 2021 totaled $147 million and included\nadding capabilities and capacity in plasmid DNA\nmanufacturing, cell therapy manufacturing,\nand dry powder inhaled dose forms.\nAnd in August 2021, we agreed to purchase\nBettera, a major manufacturer in the high-growth\ngummy, soft chew, and lozenge segments of the\nnutritional supplements market, for $1 billion.\nAssuming the satisfaction of customary closing\nconditions, including necessary competition law\nclearances, Bettera will help drive the growth\nof our consumer healthcare business.\nFinancial Performance\nOur financial position is strong. In fiscal 2021, our\nBiologics business segment, which represented\napproximately half of the company’s revenue in\nthe year, nearly doubled organically, which in turn\ndrove record overall growth rates for Catalent.\nFiscal 2021 net revenue of $4.00 billion increased\n29% as reported, or 26% in constant currency,\ncompared to fiscal 2020, of which 25% was organic.\n1\nAdjusted EBITDA was $1.0 billion for fiscal 2021,\nrepresenting constant-currency, organic growth of\n32%, compared to fiscal 2020.\n2 Adjusted Net Income\nper diluted share was $3.04, compared to $2.11\nin fiscal 2020.\n3 We also further strengthened our\nbalance sheet in fiscal 2021 as we took advantage\nof the favorable lending environment to refinance\na substantial portion of our long-term debt and\nmeaningfully reduce our weighted average interest\nrate below 3%, while also pushing out our nearest\nmaturity to 2027. We ended the year with $967\nmillion of cash, cash equivalents, and marketable\nsecurities, and our net leverage ratio at June 30, 2021\nwas 2.2x, providing Catalent with the flexibility to\ncontinue to make organic or inorganic investments\nintended to further propel our long-term growth.\nCorporate Responsibility\nEnhancing our environmental, social, and corporate\ngovernance (ESG) frameworks and metrics has\nbeen an important objective for the company,\nand I am extremely proud of the progress that\nCatalent has made over the last several years.\nOur approach prioritizes our impact on people,\nthe environment, and our communities. Our\nCorporate Responsibility Council guides the\nimplementation of our strategy and has begun\ndelivering regular reports to our board of directors.\nIn May, we published our second annual Corporate\nResponsibility Report, which tracked our progress\nagainst ESG metrics that align with the standards set\nby the Sustainability Accounting Standards Board\nfor the biotechnology and pharmaceutical sectors.\nSome of our notable areas of progress include:\n• We developed a human rights statement,\nwhich includes our commitment to perform\na third-party human rights assessment;\n• New targets for waste and water reduction,\nincluding our pledge to ensure that none\nof our sites discharges wastewater with\nconcentrations of the active pharmaceutical\ningredients we handle above Predicted No\nEffect Concentrations, or PNECs, which\noften go beyond regulatory requirements;",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_revenue",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "3998m revenue",
      "golden_context": "Page 59:\n\niscal Year Ended June 30, 2021 compared to the Fiscal Year Ended June 30, 2020\nResults for the fiscal year ended June 30, 2021 compared to the fiscal year ended June 30, 2020 were as follows:\nFiscal Year Ended\nConstant Currency\n(Dollars in millions)\nJune 30, FX Impact\nIncrease (Decrease)\n2021 2020 Change $ Change %\nNet revenue $ 3,998 $ 3,094 $ 89 $ 815 26 %\nCost of sales 2,646 2,111 56 479 23 %\nGross margin 1,352 983 33 336 34 %\nSelling, general, and administrative expenses 687 577 8 102 17 %\n(Gain) loss on sale of subsidiary (182) 1 — (183) *\nOther operating expense 19 11 — 8 96 %\nOperating earnings 828 394 25 409 104 %\nInterest expense, net 110 126 1 (17) (14)%\nOther expense, net 3 8 8 (13) (166)%\nEarnings before income taxes 715 260 16 439 169 %\nIncome tax expense 130 39 2 89 223 %\nNet earnings $ 585 $ 221 $ 14 $ 350 159 %\nNet Revenue\n2021 vs. 2020\nYear-Over-Year Change\nFiscal Year Ended\nJune 30,\nNet Revenue\n3 %\nOrganic 25 %\nImpact of acquisitions 3 %\nImpact of divestitures (2) %\nConstant currency change 26 %\nForeign currency translation impact on reporting Total % change 29 %\nNet revenue increased by $815 million, or 26%, excluding the impact of foreign exchange, compared to the fiscal year\nended June 30, 2020. Net revenue increased 3% as a result ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_revenue_growth",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "3998m revenue, 3094m revenue prior year",
      "golden_context": "Page 59:\n\niscal Year Ended June 30, 2021 compared to the Fiscal Year Ended June 30, 2020\nResults for the fiscal year ended June 30, 2021 compared to the fiscal year ended June 30, 2020 were as follows:\nFiscal Year Ended\nConstant Currency\n(Dollars in millions)\nJune 30, FX Impact\nIncrease (Decrease)\n2021 2020 Change $ Change %\nNet revenue $ 3,998 $ 3,094 $ 89 $ 815 26 %\nCost of sales 2,646 2,111 56 479 23 %\nGross margin 1,352 983 33 336 34 %\nSelling, general, and administrative expenses 687 577 8 102 17 %\n(Gain) loss on sale of subsidiary (182) 1 — (183) *\nOther operating expense 19 11 — 8 96 %\nOperating earnings 828 394 25 409 104 %\nInterest expense, net 110 126 1 (17) (14)%\nOther expense, net 3 8 8 (13) (166)%\nEarnings before income taxes 715 260 16 439 169 %\nIncome tax expense 130 39 2 89 223 %\nNet earnings $ 585 $ 221 $ 14 $ 350 159 %\nNet Revenue\n2021 vs. 2020\nYear-Over-Year Change\nFiscal Year Ended\nJune 30,\nNet Revenue\n3 %\nOrganic 25 %\nImpact of acquisitions 3 %\nImpact of divestitures (2) %\nConstant currency change 26 %\nForeign currency translation impact on reporting Total % change 29 %\nNet revenue increased by $815 million, or 26%, excluding the impact of foreign exchange, compared to the fiscal year\nended June 30, 2020. Net revenue increased 3% as a result ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000145_segments",
      "report_id": "ID_000145",
      "company_name": "Catalent",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Biologics, Softgel, Oral Technologies, Oral and Specialty Delivery, and Clinical Supply Services",
      "golden_context": "Page 19:\n\nOur Reporting Segments\nWe currently operate in four operating segments, which also constitute our four reporting segments: Biologics, Softgel\nand Oral Technologies, Oral and Specialty Delivery, and Clinical Supply Services, as further described below.\nBiologics\nOur Biologics segment provides biologic cell-line, cell therapy and viral-based gene therapy development and\nmanufacturing; formulation, development, and manufacturing for parenteral dose forms, including vials, prefilled syringes, and\ncartridges; and analytical development and testing services for large molecules. The business has extensive expertise in\ndevelopment, scale up, and commercial manufacturing. Representative customers of Biologics include Moderna, Johnson &\nJohnson, BMS, AstraZeneca, and Sarepta, along with a broad range of innovative small and mid-tier bio pharmaceutical\ncustomers.\nOur growing biologics offering includes cell-line development based on our advanced and patented GPEx suite of\ntechnologies, which are used to develop stable, high-yielding mammalian cell lines for both innovator and biosimilar biologic\ncompounds. GPEx technology can provide rapid cell-line development, high biologics production yields, flexibility, and\nversatility. Our development and manufacturing facility in Madison, Wisconsin has the capability and capacity to produce\ncGMP quality biologics drug substance from 250L to 4000L scale using single-use technology to provide maximum efficiency\nand flexibility. Our Bloomington, Indiana facility brings additional biologics development, clinical, and commercial drug\nsubstance manufacturing, and formulation capabilities and capacity. Both Bloomington and our Anagni, Italy facility add\nsubstantial capacity for finished-dose biologics drug product manufacturing and packaging. We have continued to expand drug\nsubstance production capacity in Madison, bringing on-line fourth and fifth manufacturing suites, have expanded drug product\nmanufacturing and packaging capacity in Bloomington and Anagni, and recently announced a planned expansion of our Anagni\nfacility to permit drug substance development and manufacturing. Our SMARTag next-generation ADC technology, based in\nEmeryville, California, is a clinical-stage technology that enables development of ADCs and other protein conjugates with\nimproved efficacy, safety, and manufacturability.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_cash_flow",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 439m, investing activities: -1884m, financing activities: 1031m",
      "golden_context": "Page 63:\n\nredit Facility.\nWe believe that our cash on hand, cash from operations, and available borrowings under our Revolving Credit Facility will\nbe adequate to meet our future liquidity needs for at least the next twelve months, including the amounts expected to become due\nwith respect to our pending capital projects. We have no significant maturity under any of our bank or note debt until the July\n2027 maturity of our 2027 Notes.\nOn August 9, 2022, we entered into a purchase agreement to acquire Metrics Contract Services (\"Metrics\") and will pay\napproximately $475 million in cash, subject to customary adjustments. Metrics is an oral solids development and manufacturing\nbusiness specializing in handling highly potent compounds at its facility in Greenville, North Carolina. We intend to fund this\nacquisition using a combination of cash on hand, existing senior secured credit facilities, and, depending on market conditions,\npotentially new debt financing. The closing of the acquisition is not contingent on any financing activity.\nCash Flows\nFiscal Year Ended June 30, 2022 Compared to the Fiscal Year Ended June 30, 2021\nThe following table summarizes our consolidated statements of cash flows for the fiscal year ended June 30, 2022\ncompared with the fiscal year ended June 30, 2021:\nJune 30,\n2022 2021 Change $\n$ 439 $ 433 $ 6\n$ (1,884) $ (649) $ (1,235)\n$ 1,031 $ 142 $ 889\nFiscal Y ear Ended\n(Dollars in millions) N Net cash provided by (used in):\nOperating activities Investing activities Financing activities Operating Activities\nFor the fiscal year ended June 30, 2022, cash provided by operating activities was $439 million, an increase of $6 million\ncompared to $433 million for the prior year. This increase in cash flow from operating activities was primarily due to an increase\nin operating income, excluding the gain derived from the sale of the Blow-Fill-Seal business in March 2021, a favorable impact\nfrom a decline in the rate of trade receivables growth, and a favorable impact from a decline in the rate of inventory growth,\nwhich was partially offset by an unfavorable impact from the increase in contract assets.\nInvesting Activities\nFor the fiscal year ended June 30, 2022, cash used in investing activities was $1.88 billion, compared to $649 million during\nfiscal 2021. The increase in cash used in investing activities was primarily driven by a $1.05 billion increase in cash used for\nbusiness acquisition activities, partially offset by a $52 million decline in the purchase of marketable securities and a $26 milli",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_company_type",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2022\nor\n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-36587\nCATALENT, INC.\n(Exact name of registrant as specified in its charter)\n(I.R.S. Employer Identification No.)\n(Zip Code)\nName of each exchange on which registered\nNew York Stock Exchange\nDelaware 20-8737688\n(State or other jurisdiction of incorporation or organization) 14 Schoolhouse Road 08873\nSomerset, New Jersey\n(Address of principal executive offices) Registrant’s telephone number, including area code: (732) 537-6200\n____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Common Stock, $0.01 par value per share CTLT Securities registered pursuant to Section 12(g) of the Act: None\n____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject\nto such filing requirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes\nf f  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting\ncompany, or an emerging growth company. See the definitions of“large accelerated filer,” “",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_key_financials",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net revenue 4828m, prior year 3998m",
      "golden_context": "Page 56:\n\nscal Year Ended June 30, 2022 compared to the Fiscal Year Ended June 30, 2021\nResults for the fiscal year ended June 30, 2022 compared to the fiscal year ended June 30, 2021 were as follows:\n(Dollars in millions)\nFiscal Y ear Ended\nJune 30, FX Impact\nConstant Currency\nIncrease (Decrease)\n$ 4,828 $ 3,998 $ (84) $ 914 23 %\n3,188 2,646 (48) 590 22 %\n(36) 324 (6) 163 — 181 (1) Gross margin g, general, and administrative expenses 1,640 844 1,352 687 24 %\n24 %\nGain on sale of subsidiary (1) (182) (99)%\nOther operating expense 41 19 23 110 %\n756 123 828 110 (29) Operating earnings pense, net Other expense, net 28 3 (7) 32 1,227 %\n(1) (43) 14 (5)%\n12 %\nEarnings before income taxes pense (21) (89) (12)%\n605 715 86 130 (6) (38) (30)%\nNet earnings $ 519 $ 585 $ (15) $ (51) (9)%\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_revenue",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Net revenue 4828m",
      "golden_context": "Page 56:\n\nscal Year Ended June 30, 2022 compared to the Fiscal Year Ended June 30, 2021\nResults for the fiscal year ended June 30, 2022 compared to the fiscal year ended June 30, 2021 were as follows:\n(Dollars in millions)\nFiscal Y ear Ended\nJune 30, FX Impact\nConstant Currency\nIncrease (Decrease)\n$ 4,828 $ 3,998 $ (84) $ 914 23 %\n3,188 2,646 (48) 590 22 %\n(36) 324 (6) 163 — 181 (1) Gross margin g, general, and administrative expenses 1,640 844 1,352 687 24 %\n24 %\nGain on sale of subsidiary (1) (182) (99)%\nOther operating expense 41 19 23 110 %\n756 123 828 110 (29) Operating earnings pense, net Other expense, net 28 3 (7) 32 1,227 %\n(1) (43) 14 (5)%\n12 %\nEarnings before income taxes pense (21) (89) (12)%\n605 715 86 130 (6) (38) (30)%\nNet earnings $ 519 $ 585 $ (15) $ (51) (9)%\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_revenue_growth",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue 4828m, prior year 3998m",
      "golden_context": "Page 56:\n\nscal Year Ended June 30, 2022 compared to the Fiscal Year Ended June 30, 2021\nResults for the fiscal year ended June 30, 2022 compared to the fiscal year ended June 30, 2021 were as follows:\n(Dollars in millions)\nFiscal Y ear Ended\nJune 30, FX Impact\nConstant Currency\nIncrease (Decrease)\n$ 4,828 $ 3,998 $ (84) $ 914 23 %\n3,188 2,646 (48) 590 22 %\n(36) 324 (6) 163 — 181 (1) Gross margin g, general, and administrative expenses 1,640 844 1,352 687 24 %\n24 %\nGain on sale of subsidiary (1) (182) (99)%\nOther operating expense 41 19 23 110 %\n756 123 828 110 (29) Operating earnings pense, net Other expense, net 28 3 (7) 32 1,227 %\n(1) (43) 14 (5)%\n12 %\nEarnings before income taxes pense (21) (89) (12)%\n605 715 86 130 (6) (38) (30)%\nNet earnings $ 519 $ 585 $ (15) $ (51) (9)%\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000146_segments",
      "report_id": "ID_000146",
      "company_name": "Catalent",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Biologics, Softgel and Oral Technologies, Oral and Specialty Delivery, and Clinical Supply Services",
      "golden_context": "Page 13:\n\natalent continues to be a leader in providing chemistry, manufacturing, and controls-based product development services\nto the global pharmaceutical, biotechnology, and consumer health industries, driven by thousands of projects annually. In fiscal\n2022, we recognized $2.36 billion of net revenue related to the development of products, up 34% from the prior year. In addition,\nsubstantially all of the revenue associated with the Clinical Supply Services segment relates to our support of customer products\nin development.\nOur Reporting Segments\nIn fiscal 2022, we operated in four operating segments, which also constitute our four reporting segments: Biologics,\nIn fiscal 2022, we operated in four operating segments, which also constitute our four reporting segments: Biologics, Softgel\n, Oral and Specialty Delivery, and Clinical Supply Services, as further described below. Immediately\nand Oral Technologies, Oral and Specialty Delivery, and Clinical Supply Services, as further described below. Immediately\ng g g g g following the end of fiscal 2022, we adopted a new operating structure, with two operating segments: (1) Biologics, and (2)\nPharma and Consumer Health (discussed further in Note 20, Subsequent Events t\nto our Consolidated Financial Statements). Set\ny g forth below is a summary description of our four fiscal 2022 segments.\nBiologics\nOur Biologics segment provides development and manufacturing for protein, pDNA, mRNA, cell therapy, viral vaccines\nand viral-based gene therapies; formulation, development, and manufacturing for parenteral dose forms, including vials, prefilled\nsyringes, and cartridges; and analytical development and testing services for large molecules. The business has extensive expertise\nin development, scale up, and commercial manufacturing. Representative customers of Biologics include Moderna, Johnson &\nJohnson, BMS, AstraZeneca, and Sarepta Therapeutics, along with a broad range of innovative small and mid-tier\nbiopharmaceutical customers.\nOur growing biologics offering includes cell-line development based on our advanced, patented GPEx suite of technologies,\nwhich are used to develop stable, high-yielding mammalian cell lines for both innovator and biosimilar biologic compounds.\nGPEx technology can provide rapid cell-line development, high biologics production yields, flexibility, and versatility. Our\ndevelopment and manufacturing facility in Madison, Wisconsin has the capability and capacity to produce cGMP quality biologics\ndrug substance from 250L to 4000L scale using single-use technology to provide maximum efficiency and flexibility. Our\nBloomington, Indiana facility brings additional biologics development, clinical, and commercial drug substance manufacturing,\nand formulation capabilities and capacity. Both Bloomington and our Anagni, Italy facility add substantial capacity for finished-\ndose biologics drug product manufacturing and packaging. We have continued to expand drug substance production capacity in\nMadison, bringing on-line fourth and fifth manufacturing suites, and have expanded drug product manufacturing and packaging\ncapacity in Bloomington and Anagni. We recently acquired a new facility near Oxford, U.K., which will house development and\nmanufacturing capabilities for proteins, nucleic acid therapeutics and other advanced modalities. Our SMARTag next-generation\nADC technology, based in Emeryville, California, is a clinical-stage technology that enables development of ADCs and other\nprotein conjugates with improved efficacy, safety, and manufacturability.\nAt our pDNA, cell therapy, and gene therapy global centers of excellence in Belgium, Maryland, New Jersey, and Texas,\nwe develop and manufacture advanced therapeutics, including CAR-T, AAV, lentivirus, oncolytic virus and other cell or virus\nmodalities together with critical pDNA biological starting material for cell, mRNA, and viral-based therapies and next-generation\nvaccines. Through continued inorganic investment in fiscal 2022, we acquired a fully operational, commercial-scale cell therapy\ncampus in Princeton, New Jersey with 16 suites available for both autologous and allogeneic clinical and commercial\nmanufacturing with potential further expansion. The Princeton, New Jersey campus works in conjunction with our Gosselies,\nBelgium cell therapy center of excellence, our iPSC manufacturing center of excellence in Dusseldorf Germany, and our clinical\ncell therapy center of excellence in Houston, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_cash_flow",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "1.05bn free cash flow",
      "golden_context": "Page 2:\ngoals, and so much more. Here are just a few of our highlights\nfrom the year:\n• Delivered record full-year revenue and adjusted earnings per share\n• Generated approximately $600 million in new business revenue from\ninnovation, driven by strong growth of specialty products across the company\n• Accelerated leadership in the circular economy with plans to build multiple\nworld-scale material-to-material molecular recycling facilities\n• Generated $1.05 billion of free cash flow, marking our fifth consecutive year\nof delivering greater than $1 billion in free cash flow and demonstrating\nresilience in both good and challenging environments\n• Returned approximately $1.4 billion to stockholders through dividends,\nwhich we increased for the twelfth consecutive year, and share repurchases\n• Successfully divested our tire additives product lines and announced the\ndivestiture of our adhesives resins product lines, resulting in a more strategic\nAdditives & Functional Products segment\n• Recognized by Fortune magazine as a “Change the World” company and\nnamed by Barron’s as one of the 100 Most Sustainable Companies\nThese results show that momentum is building across the company and demonstrate\nthe value we are creating along these five themes:\n1. OUR INNOVATION-DRIVEN GROWTH MODEL IS SUCCEEDING\nOur innovation-driven growth model is at the heart of who we are and how we win in\nthe marketplace every day.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_company_type",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 7:\n\nBOUT OUR BUSINESS\nEastman Chemical Company (\"Eastman\" or the \"Company\") is a global specialty materials company that produces a broad\nrange of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 41 manufacturing facilities and has equity interests in three manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with commitment to safety and sustainability. Eastman's businesses are managed and reported\nin four operating segments: Additives & Functional Products (\"AFP\"), Advanced Materials (\"AM\"), Chemical Intermediates\n(\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals, in 2012, and Taminco\nCorporation, a global specialty chemical company, in 2014) and organic development and commercialization of new and\nenhanced technologies and products.\nEastman's objective is to be a global specialty materials company that enhances the quality of life in a material way with\nconsistent, sustainable earnings growth and strong cash flow. Integral to the Company's strategy for growth is leveraging its\nheritage expertise and innovation within its cellulosic biopolymer and acetyl, olefins, polyester, and alkylamine chemistries. For\neach of these \"streams\", the Company has developed and acquired a combination of assets and technologies that combine scale\nand integration across multiple manufacturing units and sites as a competitive advantage. Management uses an innovation-\ndriven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated\napplication development, and relentlessly engaging the market. The Company sells differentiated products into diverse markets\nand geographic regions and engages the market by collaborating and co-innovating with customers and downstream users in\nexisting and new niche markets to creatively solve prob",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_key_financials",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Sales 10476m, 1.05bn free cash flow, 1.4bn returned to stockholders",
      "golden_context": "Page 20:\n\nNet earnings and EPS and adjusted net earnings and EPS were as follows:\n(Dollars in millions, except diluted EPS) 2021 2020\n$ EPS $ EPS\nNet earnings attributable to Eastman $ 857 $ 6.25 $ 478 $ 3.50\nTotal non-core and unusual items, net of tax 356 2.60 361 2.65\nNet earnings attributable to Eastman excluding non-core and unusual items $ 1,213 $ 8.85 $ 839 $ 6.15\nThe Company generated $1.6 billion and $1.5 billion of cash from operating activities in 2021 and 2020, respectively. Free cash\nflow was $1.1 billion in both 2021 and 2020.\nRESULTS OF OPERATIONS\nEastman's results of operations as presented in the Company's consolidated financial statements in this Annual Report are\nsummarized and analyzed below.\nSales\n2021 Compared to 2020 2020 Compared to 2019\n(Dollars in millions) 2021 2020 Change 2020 2019 Change\nSales $ 10,476 $ 8,473 24 % $ 8,473 $ 9,273 (9) %\nVolume / product mix effect 8 % (5) %\nPrice effect 15 % (4) %\nExchange rate effect 1 % — %\n2021 Compared to 2020\nSales revenue increased as a result of increases in all operating segments. Further discussion by operating segments is presented\nin \"Summary of Operating Segment\" in this MD&A.\n2020 Compared to 2019\nSales revenue decreased as a result of decreases in all operating segments. Further discussion by operating segments is\npresented in \"Summary of Operating Segment\" in this MD&A.\nGross Profit\n2021 Compared to 2020 2020 Compared to 2019\n(Dollars in millions) 2021 2020 Change 2020 2019 Change\nGross profit $ 2,500 $ 1,975 27 % $ 1,975 $ 2,234 (12) %\nAccelerated depreciation 4 8 8 —\nGross profit excluding non-core item $ 2,504 $ 1,983 26 % $ 1,983 $ 2,234 (11) %\n2021 Compared to 2020\nGross profit included accelerated depreciation resulting from the closure of an advanced interlayers manufacturing facility in\nNorth America in the AM segment as part of ongoing site optimization actions. Excluding this non-core item, gross profit\nincreased as a result of inc\n\nPage 2:\ngoals, and so much more. Here are just a few of our highlights\nfrom the year:\n• Delivered record full-year revenue and adjusted earnings per share\n• Generated approximately $600 million in new business revenue from\ninnovation, driven by strong growth of specialty products across the company\n• Accelerated leadership in the circular economy with plans to build multiple\nworld-scale material-to-material molecular recycling facilities\n• Generated $1.05 billion of free cash flow, marking our fifth consecutive year\nof delivering greater than $1 billion in free cash flow and demonstrating\nresilience in both good and challenging environments\n• Returned approximately $1.4 billion to stockholders through dividends,\nwhich we increased for the twelfth consecutive year, and share repurchases\n• Successfully divested our tire additives product lines and announced the\ndivestiture of our adhesives resins product lines, resulting in a more strategic\nAdditives & Functional Products segment\n• Recognized by Fortune magazine as a “Change the World” company and\nnamed by Barron’s as one of the 100 Most Sustainable Companies\nThese results show that momentum is building across the company and demonstrate\nthe value we are creating along these five themes:\n1. OUR INNOVATION-DRIVEN GROWTH MODEL IS SUCCEEDING\nOur innovation-driven growth model is at the heart of who we are and how we win in\nthe marketplace every day.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_revenue",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Sales 10476m",
      "golden_context": "Page 2:\ngoals, and so much more. Here are just a few of our highlights\nfrom the year:\n• Delivered record full-year revenue and adjusted earnings per share\n• Generated approximately $600 million in new business revenue from\ninnovation, driven by strong growth of specialty products across the company\n• Accelerated leadership in the circular economy with plans to build multiple\nworld-scale material-to-material molecular recycling facilities\n• Generated $1.05 billion of free cash flow, marking our fifth consecutive year\nof delivering greater than $1 billion in free cash flow and demonstrating\nresilience in both good and challenging environments\n• Returned approximately $1.4 billion to stockholders through dividends,\nwhich we increased for the twelfth consecutive year, and share repurchases\n• Successfully divested our tire additives product lines and announced the\ndivestiture of our adhesives resins product lines, resulting in a more strategic\nAdditives & Functional Products segment\n• Recognized by Fortune magazine as a “Change the World” company and\nnamed by Barron’s as one of the 100 Most Sustainable Companies\nThese results show that momentum is building across the company and demonstrate\nthe value we are creating along these five themes:\n1. OUR INNOVATION-DRIVEN GROWTH MODEL IS SUCCEEDING\nOur innovation-driven growth model is at the heart of who we are and how we win in\nthe marketplace every day.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_revenue_growth",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Sales 10476m, 8473m prior year",
      "golden_context": "Page 2:\ngoals, and so much more. Here are just a few of our highlights\nfrom the year:\n• Delivered record full-year revenue and adjusted earnings per share\n• Generated approximately $600 million in new business revenue from\ninnovation, driven by strong growth of specialty products across the company\n• Accelerated leadership in the circular economy with plans to build multiple\nworld-scale material-to-material molecular recycling facilities\n• Generated $1.05 billion of free cash flow, marking our fifth consecutive year\nof delivering greater than $1 billion in free cash flow and demonstrating\nresilience in both good and challenging environments\n• Returned approximately $1.4 billion to stockholders through dividends,\nwhich we increased for the twelfth consecutive year, and share repurchases\n• Successfully divested our tire additives product lines and announced the\ndivestiture of our adhesives resins product lines, resulting in a more strategic\nAdditives & Functional Products segment\n• Recognized by Fortune magazine as a “Change the World” company and\nnamed by Barron’s as one of the 100 Most Sustainable Companies\nThese results show that momentum is building across the company and demonstrate\nthe value we are creating along these five themes:\n1. OUR INNOVATION-DRIVEN GROWTH MODEL IS SUCCEEDING\nOur innovation-driven growth model is at the heart of who we are and how we win in\nthe marketplace every day.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000148_segments",
      "report_id": "ID_000148",
      "company_name": "Eastman",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Additives & Functional Products, Advanced Materials, Chemical Intermediates, Fibers.",
      "golden_context": "Page 7:\n\ne of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 41 manufacturing facilities and has equity interests in three manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with commitment to safety and sustainability. Eastman's businesses are managed and reported\nin four operating segments: Additives & Functional Products (\"AFP\"), Advanced Materials (\"AM\"), Chemical Intermediates\n(\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals, in 2012, and Taminco\nCorporation, a global specialty chemical company, in 2014) and organic development and commercialization of new and\nenhanced technologies and products.\nEastman's objective is to be a global specialty materials company that enhances the quality of life in a material way with\nconsistent, sustainable earnings growth and strong cash flow. Integral to the Company's strategy for growth is leveraging its\nheritage expertise and innovation within its cellulosic biopolymer and acetyl, olefins, polyester, and alkylamine chemistries. For\neach of these \"streams\", the Company has developed and acquired a combination of assets and technologies that combine scale\nand integration across multiple manufacturing units and sites as a competitive advantage. Management uses an innovation-\ndriven growth model which consists of levera",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_cash_flow",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities 975m, investing 392m, financing -1321m",
      "golden_context": "Page 30:\n\nSales revenue increased 1 percent due to increases in sales revenue across all regions, except Asia Pacific. Higher sales revenue\nwas primarily due to higher selling prices (up 14 percent) partially offset by lower sales volume (down 11 percent, including the\nimpact from divested businesses) and an unfavorable shift in foreign currency exchange rates (down 2 percent). The most\nsignificant increase in sales revenue occurred in the United States and Canada, primarily due to higher selling prices across all\noperating segments partially offset by lower sales volume from the divested businesses.\nSee Note 20, \"Segment and Regional Sales Information\", to the Company's consolidated financial statements in this Annual\nReport for segment sales revenues by customer location.\nLIQUIDITY AND OTHER FINANCIAL INFORMATION\nCash Flows\nThe Company had cash and cash equivalents as follows:\n(Dollars in millions) December 31,\nCash and cash equivalents 2022 2021\n$ 493 $ 459\nCash flows from operations, cash and cash equivalents, and other sources of liquidity are expected to be available and sufficient\nto meet foreseeable cash requirements. However, the Company's cash flows from operations can be affected by numerous\nfactors including risks associated with global operations, raw material availability and cost, demand for and pricing of\nEastman's products, capacity utilization, and other factors described under \"Risk Factors\" in this MD&A. Management believes\nmaintaining a financial profile that supports an investment grade credit rating is important to its long-term strategy and financial\nflexibility.\nFor years ended December 31,\n(Dollars in millions) Net cash provided Operating activities Investing activities Financing activities 2022 2021\nby (used in):\n$ 975 $ 1,619\n392 (29)\n(1,321) (1,690)\nEffect of exchange rate changes on cash and cash equivalents (12) (5)\nNet change in cash and cash equivalents 34 (105)\nCash and cash equivalents at beginning of period 459 564\nCash and cash equivalents at end of period $ 493 $ 459\nCash provided by operating activities decreased $644 million due to lower net earnings adjusted for both loss on divested\nbusinesses and mark-to-market pension and other postretirement benefit plans (gain) loss, net, as well as higher variable\ncompensation payout. The use of cash in working capital also increased, driven by higher inventory due to continued\ninflationary pressures and lower sales volume.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_company_type",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 8:\n\nBOUT OUR BUSINESS\nEastman Chemical Company (\"Eastman\" or the \"Company\") is a global specialty materials company that produces a broad\nrange of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 35 manufacturing facilities and has equity interests in two manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with commitment to safety and sustainability. Eastman's businesses are managed and reported\nin four operating segments: Advanced Materials (\"AM\"), Additives & Functional Products (\"AFP\"), Chemical Intermediates\n(\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals in 2012, and Taminco\nCorporation, a global specialty chemical company in 2014) and organic development and commercialization of new and\nenhanced technologies and products.\nEastman's objective is to be a global specialty materials company that enhances the quality of life in a material way with\nconsistent, sustainable earnings growth and strong cash flow. Integral to the Company's strategy for growth is leveraging its\nheritage expertise and innovation with",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_key_financials",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Sales 10580m, net earnings attributable to Eastman 793m, gross profit: 2137m",
      "golden_context": "Page 21:\n\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nNet earnings and EPS and adjusted net earnings and EPS were as follows:\n2022 2021\n(Dollars in millions, except diluted EPS) $ EPS $ EPS\nNet earnings attributable to Eastman $ 793 $ 6.35 $ 857 $ 6.25\nTotal non-core and unusual items, net of tax 191 1.53 356 2.60\nNet earnings attributable to Eastman excluding non-core and unusual items $ 984 $ 7.88 $ 1,213 $ 8.85\nThe Company generated $975 million and $1.6 billion of cash from operating activities in 2022 and 2021, respectively.\nRESULTS OF OPERATIONS\nEastman's results of operations as presented in the Company's consolidated financial statements in this Annual Report are\nsummarized and analyzed below.\nSales\n(Dollars in millions) 2022 2021 Change\nSales $ 10,580 $ 10,476 1 %\nVolume / product mix effect (3) %\nPrice effect 14 %\nExchange rate effect (2) %\nDivested business effect (1) (8) %\n(1) Contribution to sales revenue of businesses divested which are not in 2022 comparable periods.\nSales revenue increased as a result of increases in all operating segments. Further discussion by operating segments is presented\nin \"Summary of Operating Segment\" in this MD&A.\nGross Profit\n(Dollars in millions) 2022 2021 Change\nGross profit $ 2,137 $ 2,500 (15) %\nSteam line incident costs, net of insurance proceeds 39 —\nAccelerated depreciation — 4\nGross profit excluding non-core and unusual items $ 2,176 $ 2,504 (13) %\nGross profit in 2022 included incremental costs, net of insurance proceeds, from the steam line incident. Gross profit in 2021\nincluded accelerated depreciation resulting from the closure of an advanced interlayers manufacturing facility in North America\nin the AM segment as part of site optimization actions.\nExcluding these non-core and unusual items, gross profit decreased as a result of decreases in all operating segments, except the\nAFP segment. Further discussion of sales revenue and EBIT changes is presented in \"Summary by Operating Segment\" in this\nMD&A.\nSelling, General and Administrative Expenses\n(Dollars in millions) 2022 2021 Change\nSelling, general and administrative expenses $ 726 $ 795 (9) %\nTransaction costs (18) (18)\nSelling, general and administrative expenses excluding non-core items $ 708 $ 777 (9) %\nSG&A expenses in 2022 and 2021 included transaction costs for the divestitures of rubber additives and adhesives resins which\nwere not allocated to an operating segment and reported in \"Other\".\nExcluding the non-core item mentioned above, SG&A expenses decreased primarily as a result of lower variable compensation\ncosts partially offset by higher growth initiative costs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_revenue",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Sales 10580m",
      "golden_context": "Page 21:\n\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nNet earnings and EPS and adjusted net earnings and EPS were as follows:\n2022 2021\n(Dollars in millions, except diluted EPS) $ EPS $ EPS\nNet earnings attributable to Eastman $ 793 $ 6.35 $ 857 $ 6.25\nTotal non-core and unusual items, net of tax 191 1.53 356 2.60\nNet earnings attributable to Eastman excluding non-core and unusual items $ 984 $ 7.88 $ 1,213 $ 8.85\nThe Company generated $975 million and $1.6 billion of cash from operating activities in 2022 and 2021, respectively.\nRESULTS OF OPERATIONS\nEastman's results of operations as presented in the Company's consolidated financial statements in this Annual Report are\nsummarized and analyzed below.\nSales\n(Dollars in millions) 2022 2021 Change\nSales $ 10,580 $ 10,476 1 %\nVolume / product mix effect (3) %\nPrice effect 14 %\nExchange rate effect (2) %\nDivested business effect (1) (8) %\n(1) Contribution to sales revenue of businesses divested which are not in 2022 comparable periods.\nSales revenue increased as a result of increases in all operating segments. Further discussion by operating segments is presented\nin \"Summary of Operating Segment\" in this MD&A.\nGross Profit\n(Dollars in millions) 2022 2021 Change\nGross profit $ 2,137 $ 2,500 (15) %\nSteam line incident costs, net of insurance proceeds 39 —\nAccelerated depreciation — 4\nGross profit excluding non-core and unusual items $ 2,176 $ 2,504 (13) %\nGross profit in 2022 included incremental costs, net of insurance proceeds, from the steam line incident. Gross profit in 2021\nincluded accelerated depreciation resulting from the closure of an advanced interlayers manufacturing facility in North America\nin the AM segment as part of site optimization actions.\nExcluding these non-core and unusual items, gross profit decreased as a result of decreases in all operating segments, except the\nAFP segment. Further discussion of sales revenue and EBIT changes is presented in \"Summary by Operating Segment\" in this\nMD&A.\nSelling, General and Administrative Expenses\n(Dollars in millions) 2022 2021 Change\nSelling, general and administrative expenses $ 726 $ 795 (9) %\nTransaction costs (18) (18)\nSelling, general and administrative expenses excluding non-core items $ 708 $ 777 (9) %\nSG&A expenses in 2022 and 2021 included transaction costs for the divestitures of rubber additives and adhesives resins which\nwere not allocated to an operating segment and reported in \"Other\".\nExcluding the non-core item mentioned above, SG&A expenses decreased primarily as a result of lower variable compensation\ncosts partially offset by higher growth initiative costs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_revenue_growth",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Sales 10580m, prior year 10476m",
      "golden_context": "Page 21:\n\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nNet earnings and EPS and adjusted net earnings and EPS were as follows:\n2022 2021\n(Dollars in millions, except diluted EPS) $ EPS $ EPS\nNet earnings attributable to Eastman $ 793 $ 6.35 $ 857 $ 6.25\nTotal non-core and unusual items, net of tax 191 1.53 356 2.60\nNet earnings attributable to Eastman excluding non-core and unusual items $ 984 $ 7.88 $ 1,213 $ 8.85\nThe Company generated $975 million and $1.6 billion of cash from operating activities in 2022 and 2021, respectively.\nRESULTS OF OPERATIONS\nEastman's results of operations as presented in the Company's consolidated financial statements in this Annual Report are\nsummarized and analyzed below.\nSales\n(Dollars in millions) 2022 2021 Change\nSales $ 10,580 $ 10,476 1 %\nVolume / product mix effect (3) %\nPrice effect 14 %\nExchange rate effect (2) %\nDivested business effect (1) (8) %\n(1) Contribution to sales revenue of businesses divested which are not in 2022 comparable periods.\nSales revenue increased as a result of increases in all operating segments. Further discussion by operating segments is presented\nin \"Summary of Operating Segment\" in this MD&A.\nGross Profit\n(Dollars in millions) 2022 2021 Change\nGross profit $ 2,137 $ 2,500 (15) %\nSteam line incident costs, net of insurance proceeds 39 —\nAccelerated depreciation — 4\nGross profit excluding non-core and unusual items $ 2,176 $ 2,504 (13) %\nGross profit in 2022 included incremental costs, net of insurance proceeds, from the steam line incident. Gross profit in 2021\nincluded accelerated depreciation resulting from the closure of an advanced interlayers manufacturing facility in North America\nin the AM segment as part of site optimization actions.\nExcluding these non-core and unusual items, gross profit decreased as a result of decreases in all operating segments, except the\nAFP segment. Further discussion of sales revenue and EBIT changes is presented in \"Summary by Operating Segment\" in this\nMD&A.\nSelling, General and Administrative Expenses\n(Dollars in millions) 2022 2021 Change\nSelling, general and administrative expenses $ 726 $ 795 (9) %\nTransaction costs (18) (18)\nSelling, general and administrative expenses excluding non-core items $ 708 $ 777 (9) %\nSG&A expenses in 2022 and 2021 included transaction costs for the divestitures of rubber additives and adhesives resins which\nwere not allocated to an operating segment and reported in \"Other\".\nExcluding the non-core item mentioned above, SG&A expenses decreased primarily as a result of lower variable compensation\ncosts partially offset by higher growth initiative costs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000149_segments",
      "report_id": "ID_000149",
      "company_name": "Eastman",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers",
      "golden_context": "Page 8:\n\nABOUT OUR BUSINESS\nEastman Chemical Company (\"Eastman\" or the \"Company\") is a global specialty materials company that produces a broad\nrange of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 35 manufacturing facilities and has equity interests in two manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with commitment to safety and sustainability. Eastman's businesses are managed and reported\nin four operating segments: Advanced Materials (\"AM\"), Additives & Functional Products (\"AFP\"), Chemical Intermediates\n(\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals in 2012, and Taminco\nCorporation, a global specialty chemical company in 2014) and organic development and commercialization of new and\nenhanced technologies and products.\nEastman's objective is to be a global specialty materials company that enhances the quality of life in a material way with\nconsistent, sustainable earnings growth and strong ca",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_cash_flow",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "1.4bn operating cash flow, \nEPS 6.4",
      "golden_context": "Page 2:\n\nest-ever performance in 2023\nfor personal safety incidents, process safety events and\nenvironmental releases, reaffirming our commitment to\napproaching all that we do with a zero-incident mindset.\n• Generated strong operating cash flow — We generated strong\noperating cash flow of approximately $1.4 billion, which enabled us\nto invest in growth, reduce net debt and return cash to stockholders.\n• Demonstrated commercial excellence — Our teams demonstrated\ncommercial excellence in our pricing by leveraging the strength of\nour value proposition to offset significant macro-driven volume\nchallenges and an unfavorable fo\n\nPage 3:\n\n Disciplined cost management — We took determined\nactions across the company to reduce costs by\napproximately $200 million, net of inflation.\n• Improved performance in Fibers segment—\nSuccessful establishment of multiyear contracts led\nto strong structural improvement in the segment,\nallowing us to improve profitability and cash generation\nand continue to reliably supply customers.\n• Delivered solid earnings in a challenging\nenvironment — We delivered adjusted earnings per\nshare (EPS) of $6.40, reflecting our ability to maintain\ncommercial excellence in pricing, leverage our\ndiverse portfolio and aggressively manage costs.\n• Returned cash to stockholders — We delivered\n$526 million in cash to stockholders, including\ndividends, which we increased for the 14th\nconsecutive year, and share repurchases.\n• Strengthened circular leadership — We made significant\nprogress on our circular strategy, including our new Kingsport\nmethanolysis facility and two additional planned facilities,\nwhich I will discuss in more detail on the following pages.\n• Completed divestiture of Texas City Operations — We\nclosed the sale of our Texas City Operations to INEOS\nAcetyls for approximately $490 million, and we immediately\nput the cash received to work through the combination\nof net debt reduction and share repurchases.\n• Increased environmental, social and governance (ESG)\ntransparency and accountability — We published our\ncomprehensive 2023 Sustainability Report and our third\ninclusion and diversity report, Embracing the Power of\nInclusion. During the year, we received several notable\nESG-related awards and recognitions for our sustainability\nleadership, our commitment to veterans and active-\nduty service members, and our excellence in corporate\ngovernance. We also became the first chemical company\nto issue an investment-grade, USD-denominated senior\nunsecured green bond offering in the U.S. This green bond\nissuance is a testament of our commitment to creating\nsolutions that address today’s environmental and social\nchallenges. We allocated the net proceeds of the $500\nmillion offering to finance or refinance, in whole or in\npart, one or more new or existing eligible projects in the\ncategories outlined in our Green Financing Framework.\nThese results reflect the strength of our strategy, the execution\nof our team, the resilience of our business model and our\ncommitment to creating A Better Circle. In a challenging\nenvironment, we delivered a solid performance and are well\npositioned to capture the opportunities ahead.\n2024 outlook and priorities\nAs we enter 2024, we are confident in our ability to deliver\ngrowth and create value. We expect to benefit from several\ntailwinds, including improved or stabilized demand in key end\nmarkets, increased asset utilization, continued commercial\nexcellence in pricing, another strong year for our Fibers\nsegment, and incremental growth from our Kingsport\nmethanolysis facility. We also anticipate that customer\ninventory destocking, which negatively impacted our\nvolumes in 2023, will be substantially complete.\nBased on these expectations, together with our focus on\nproductivity and disciplined cost management, we expect to\ndeliver adjusted EPS of $7.25 to $8.00, which would be strong\ngrowth relative to 2023. We also expect to generate operating\ncash flow of approximately $1.4 billion, which will enable us to\ncontinue investing in growth and returning cash to stockholders.\nOur priorities for 2024 are clear and consistent. We will\ncontinue to drive safety, productivity and cost excellence across\nour operations. We will continue to invest in our innovation\npipeline with a focus on circular and sustainable solutions. We\nwill continue to execute our strategy with a disciplined approach\nto capital allocatio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_company_type",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 9:\n\nastman Chemical Company (\"Eastman\" or the \"Company\") is a global specialty materials company that produces a broad\nrange of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 36 manufacturing facilities and has equity interests in two manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with a commitment to safety and sustainability. Eastman's businesses are managed and\nreported in four operating segments: Advanced Materials (\"AM\"), Additives & Functional Products (\"AFP\"), Chemical\nIntermediates (\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals in 2012, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_key_financials",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "1.4bn operating cash flow, \nEPS 6.4, \n9210m revenue",
      "golden_context": "Page 2:\n\nest-ever performance in 2023\nfor personal safety incidents, process safety events and\nenvironmental releases, reaffirming our commitment to\napproaching all that we do with a zero-incident mindset.\n• Generated strong operating cash flow — We generated strong\noperating cash flow of approximately $1.4 billion, which enabled us\nto invest in growth, reduce net debt and return cash to stockholders.\n• Demonstrated commercial excellence — Our teams demonstrated\ncommercial excellence in our pricing by leveraging the strength of\nour value proposition to offset significant macro-driven volume\nchallenges and an unfavorable fo\n\nPage 3:\n\n Disciplined cost management — We took determined\nactions across the company to reduce costs by\napproximately $200 million, net of inflation.\n• Improved performance in Fibers segment—\nSuccessful establishment of multiyear contracts led\nto strong structural improvement in the segment,\nallowing us to improve profitability and cash generation\nand continue to reliably supply customers.\n• Delivered solid earnings in a challenging\nenvironment — We delivered adjusted earnings per\nshare (EPS) of $6.40, reflecting our ability to maintain\ncommercial excellence in pricing, leverage our\ndiverse portfolio and aggressively manage costs.\n• Returned cash to stockholders — We delivered\n$526 million in cash to stockholders, including\ndividends, which we increased for the 14th\nconsecutive year, and share repurchases.\n• Strengthened circular leadership — We made significant\nprogress on our circular strategy, including our new Kingsport\nmethanolysis facility and two additional planned facilities,\nwhich I will discuss in more detail on the following pages.\n• Completed divestiture of Texas City Operations — We\nclosed the sale of our Texas City Operations to INEOS\nAcetyls for approximately $490 million, and we immediately\nput the cash received to work through the combination\nof net debt reduction and share repurchases.\n• Increased environmental, social and governance (ESG)\ntransparency and accountability — We published our\ncomprehensive 2023 Sustainability Report and our third\ninclusion and diversity report, Embracing the Power of\nInclusion. During the year, we received several notable\nESG-related awards and recognitions for our sustainability\nleadership, our commitment to veterans and active-\nduty service members, and our excellence in corporate\ngovernance. We also became the first chemical company\nto issue an investment-grade, USD-denominated senior\nunsecured green bond offering in the U.S. This green bond\nissuance is a testament of our commitment to creating\nsolutions that address today’s environmental and social\nchallenges. We allocated the net proceeds of the $500\nmillion offering to finance or refinance, in whole or in\npart, one or more new or existing eligible projects in the\ncategories outlined in our Green Financing Framework.\nThese results reflect the strength of our strategy, the execution\nof our team, the resilience of our business model and our\ncommitment to creating A Better Circle. In a challenging\nenvironment, we delivered a solid performance and are well\npositioned to capture the opportunities ahead.\n2024 outlook and priorities\nAs we enter 2024, we are confident in our ability to deliver\ngrowth and create value. We expect to benefit from several\ntailwinds, including improved or stabilized demand in key end\nmarkets, increased asset utilization, continued commercial\nexcellence in pricing, another strong year for our Fibers\nsegment, and incremental growth from our Kingsport\nmethanolysis facility. We also anticipate that customer\ninventory destocking, which negatively impacted our\nvolumes in 2023, will be substantially complete.\nBased on these expectations, together with our focus on\nproductivity and disciplined cost management, we expect to\ndeliver adjusted EPS of $7.25 to $8.00, which would be strong\ngrowth relative to 2023. We also expect to generate operating\ncash flow of approximately $1.4 billion, which will enable us to\ncontinue investing in growth and returning cash to stockholders.\nOur priorities for 2024 are clear and consistent. We will\ncontinue to drive safety, productivity and cost excellence across\nour operations. We will continue to invest in our innovation\npipeline with a focus on circular and sustainable solutions. We\nwill continue to execute our strategy with a disciplined approach\nto capital allocatio\n\n\"Page 25-26:\n\nOVERVIEW\nEastman's products and operations are managed and reported in four operating segments: Advanced Materials (\"\"AM\"\"),\nAdditives & Functional Products (\"\"AFP\"\"), Chemical Intermediates (\"\"CI\"\"), and Fibers. Eastman uses an innovation-driven\ngrowth model which consists of leveraging world class scalable technology platforms, delivering differentiated application\ndevelopment capabilities, and relentlessly engaging the market. The Company's world class technology platforms form the\nfoundation of sustainable growth by differentiated products through significant scale advantages in research and development\n(\"\"R&D\"\") and advantaged global market access. Molecular recycling technologies continue to be an area of investment focus for\nthe Company and extends the level of differentiation afforded by its world class technology platforms. Differentiated\napplication development converts market complexity into opportunities for growth and accelerates innovation by enabling a\ndeeper understanding of the value of Eastman's products and how they perform within customers' and end-user products. Key\nareas of application development include thermoplastic conversion, functional films, coatings formulations, textiles and\nnonwovens, and personal and home care formulations. The Company engages the market by working directly with customers\nand downstream users, targeting attractive niche markets, and leveraging disruptive macro trends. Management believes that\nthese elements of the Company's innovation-driven growth model, combined with disciplined portfolio management and\nbalanced capital deployment, will result in consistent, sustainable earnings growth and strong cash flow from operations.\nSales, EBIT, and EBIT excluding non-core and unusual items were as follows:\n(Dollars in millions) 2023 2022\nSales $ 9,210 $ 10,580\nEarnings before interest and taxes 1,302 1,159\nEarnings before interest and taxes excluding non-core and unusual items 1,097 1,339\n18\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nSales revenue in 2023 compared to 2022 decreased primarily due to lower sales volume. Lower sales volume was primarily\nattributed to deceleration of demand and customer destocking across many key end-markets, partially offset by increased sales\nvolume of premium products in the automotive end-market. Adjusted EBIT decreased in 2023 compared to 2022 primarily due\nto lower sales volume and higher manufacturing costs, attributed to lower capacity utilization resulting from actions to reduce\ninventory, higher pension expense, higher SG&A costs, primarily due to variable compensation costs, continued investment in\nthe circular platform, and an unfavorable shift in foreign currency exchanges rates. These factors were partially offset by lower\nraw material and energy costs and distribution costs, net of lower selling prices.\nOn December 1, 2023, the Company completed the sale of its Texas City operations, which was reported in the CI segment\n(\"\"Texas City Operations\"\"). The sale excluded the plasticizer operations.\nOn April 1, 2022, the Company completed the sale of the adhesives resins business, which included hydrocarbon resins\n(including Eastman Impera™ tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical\nand fatty-acid based resins product lines, of its AFP segment (\"\"adhesives resins\"\").\"",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_revenue",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "9210m revenue",
      "golden_context": "Page 25-26:\n\nOVERVIEW\nEastman's products and operations are managed and reported in four operating segments: Advanced Materials (\"AM\"),\nAdditives & Functional Products (\"AFP\"), Chemical Intermediates (\"CI\"), and Fibers. Eastman uses an innovation-driven\ngrowth model which consists of leveraging world class scalable technology platforms, delivering differentiated application\ndevelopment capabilities, and relentlessly engaging the market. The Company's world class technology platforms form the\nfoundation of sustainable growth by differentiated products through significant scale advantages in research and development\n(\"R&D\") and advantaged global market access. Molecular recycling technologies continue to be an area of investment focus for\nthe Company and extends the level of differentiation afforded by its world class technology platforms. Differentiated\napplication development converts market complexity into opportunities for growth and accelerates innovation by enabling a\ndeeper understanding of the value of Eastman's products and how they perform within customers' and end-user products. Key\nareas of application development include thermoplastic conversion, functional films, coatings formulations, textiles and\nnonwovens, and personal and home care formulations. The Company engages the market by working directly with customers\nand downstream users, targeting attractive niche markets, and leveraging disruptive macro trends. Management believes that\nthese elements of the Company's innovation-driven growth model, combined with disciplined portfolio management and\nbalanced capital deployment, will result in consistent, sustainable earnings growth and strong cash flow from operations.\nSales, EBIT, and EBIT excluding non-core and unusual items were as follows:\n(Dollars in millions) 2023 2022\nSales $ 9,210 $ 10,580\nEarnings before interest and taxes 1,302 1,159\nEarnings before interest and taxes excluding non-core and unusual items 1,097 1,339\n18\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nSales revenue in 2023 compared to 2022 decreased primarily due to lower sales volume. Lower sales volume was primarily\nattributed to deceleration of demand and customer destocking across many key end-markets, partially offset by increased sales\nvolume of premium products in the automotive end-market. Adjusted EBIT decreased in 2023 compared to 2022 primarily due\nto lower sales volume and higher manufacturing costs, attributed to lower capacity utilization resulting from actions to reduce\ninventory, higher pension expense, higher SG&A costs, primarily due to variable compensation costs, continued investment in\nthe circular platform, and an unfavorable shift in foreign currency exchanges rates. These factors were partially offset by lower\nraw material and energy costs and distribution costs, net of lower selling prices.\nOn December 1, 2023, the Company completed the sale of its Texas City operations, which was reported in the CI segment\n(\"Texas City Operations\"). The sale excluded the plasticizer operations.\nOn April 1, 2022, the Company completed the sale of the adhesives resins business, which included hydrocarbon resins\n(including Eastman Impera™ tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical\nand fatty-acid based resins product lines, of its AFP segment (\"adhesives resins\").",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_revenue_growth",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "9210m revenue, 10580m prior year",
      "golden_context": "Page 25-26:\n\nOVERVIEW\nEastman's products and operations are managed and reported in four operating segments: Advanced Materials (\"AM\"),\nAdditives & Functional Products (\"AFP\"), Chemical Intermediates (\"CI\"), and Fibers. Eastman uses an innovation-driven\ngrowth model which consists of leveraging world class scalable technology platforms, delivering differentiated application\ndevelopment capabilities, and relentlessly engaging the market. The Company's world class technology platforms form the\nfoundation of sustainable growth by differentiated products through significant scale advantages in research and development\n(\"R&D\") and advantaged global market access. Molecular recycling technologies continue to be an area of investment focus for\nthe Company and extends the level of differentiation afforded by its world class technology platforms. Differentiated\napplication development converts market complexity into opportunities for growth and accelerates innovation by enabling a\ndeeper understanding of the value of Eastman's products and how they perform within customers' and end-user products. Key\nareas of application development include thermoplastic conversion, functional films, coatings formulations, textiles and\nnonwovens, and personal and home care formulations. The Company engages the market by working directly with customers\nand downstream users, targeting attractive niche markets, and leveraging disruptive macro trends. Management believes that\nthese elements of the Company's innovation-driven growth model, combined with disciplined portfolio management and\nbalanced capital deployment, will result in consistent, sustainable earnings growth and strong cash flow from operations.\nSales, EBIT, and EBIT excluding non-core and unusual items were as follows:\n(Dollars in millions) 2023 2022\nSales $ 9,210 $ 10,580\nEarnings before interest and taxes 1,302 1,159\nEarnings before interest and taxes excluding non-core and unusual items 1,097 1,339\n18\nMANAGEMENT'S DISCUSSION AND ANALYSIS OF\nFINANCIAL CONDITION AND RESULTS OF OPERATIONS\nSales revenue in 2023 compared to 2022 decreased primarily due to lower sales volume. Lower sales volume was primarily\nattributed to deceleration of demand and customer destocking across many key end-markets, partially offset by increased sales\nvolume of premium products in the automotive end-market. Adjusted EBIT decreased in 2023 compared to 2022 primarily due\nto lower sales volume and higher manufacturing costs, attributed to lower capacity utilization resulting from actions to reduce\ninventory, higher pension expense, higher SG&A costs, primarily due to variable compensation costs, continued investment in\nthe circular platform, and an unfavorable shift in foreign currency exchanges rates. These factors were partially offset by lower\nraw material and energy costs and distribution costs, net of lower selling prices.\nOn December 1, 2023, the Company completed the sale of its Texas City operations, which was reported in the CI segment\n(\"Texas City Operations\"). The sale excluded the plasticizer operations.\nOn April 1, 2022, the Company completed the sale of the adhesives resins business, which included hydrocarbon resins\n(including Eastman Impera™ tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical\nand fatty-acid based resins product lines, of its AFP segment (\"adhesives resins\").",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000150_segments",
      "report_id": "ID_000150",
      "company_name": "Eastman",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers",
      "golden_context": "Page 9:\n\nEastman Chemical Company (\"Eastman\" or the \"Company\") is a global specialty materials company that produces a broad\nrange of products found in items people use every day. Eastman began business in 1920 for the purpose of producing chemicals\nfor Eastman Kodak Company's photographic business and became a public company, incorporated in Delaware, on December\n31, 1993. Eastman has 36 manufacturing facilities and has equity interests in two manufacturing joint ventures in 12 countries\nthat supply products to customers throughout the world. The Company's headquarters and largest manufacturing facility are\nlocated in Kingsport, Tennessee. With a robust portfolio of specialty businesses, Eastman works with customers to deliver\ninnovative products and solutions with a commitment to safety and sustainability. Eastman's businesses are managed and\nreported in four operating segments: Advanced Materials (\"AM\"), Additives & Functional Products (\"AFP\"), Chemical\nIntermediates (\"CI\"), and Fibers. See \"Business Segments\".\nIn the first years as a stand-alone company, Eastman was diversified between commodity and more specialty chemical\nbusinesses. Beginning in 2004, the Company refocused its strategy and changed its businesses and portfolio of products, first by\nthe divestiture and discontinuance of under-performing assets and commodity businesses and initiatives (including divestiture\nin 2004 of resins, inks, and monomers product lines, divestiture in 2006 of the polyethylene business, and divestiture from 2007\nto 2010 of the polyethylene terephthalate (\"PET\") assets and business). The Company then pursued growth through the\ndevelopment and acquisition of more specialty businesses and product lines by inorganic acquisition and integration (including\nacquisitions of Solutia, Inc., a global leader in performance materials and specialty chemicals in 2012, and Taminco\nCorporation, a global specialty chemical company in 2014) and organic development and commercialization of new and\nenhanced technologies and products.\nEastman's objective is to be a global specialty materials company that enhances the quality of life in a material way with\nconsistent, sustainable earnings growth and strong cash flow. Integral to the Company's strategy for growth is leveraging its\nheritage expertise and innovation within its cellulosic biopolymer and acetyl, olefins, polyester, and alkylamine chemistries. For\neach of these \"streams\", the Company has developed and acquired a combination of assets and technologies that combine scale\nand integration across multiple manufacturing units and sites as a competitive advantage. Management uses an innovation-\ndriven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated\napplication development, and relentlessly engaging the market. The Company sells differentiated products into diverse markets\nand geographic regions and engages the market by collaborating and co-innovating with customers and downstream users in\nexisting and new niche markets to creatively solve problems. Management believes that this innovation-driven growth model\nwill enable the Company to leverage its proven technology capabilities to improve product mix, increasing emphasis on\nspecialty businesses, and sustaining and expanding market share through leadership in attractive niche markets. The Company's\nstrategy will also focus on organic growth initiatives and targeted bolt-on acquisitions.\nManagement is pursuing specific opportunities to leverage Eastman's innovation-driven growth model with the goal of greater\nthan end-market growth by both sustaining the Company's leadership in existing markets and expanding into new markets.\nCentral to Eastman's innovation-driven growth model is management's dedication to enhance the quality of life in a material\nway with an ongoing commitment to sustainability. Management approaches sustainability as a source of competitive strength\nby focusing its innovation strategy on opportunities where disruptive macro trends align with the Company's differentiated\ntechnology platforms and applications development capabilities to develop innovative products, applications, and technologies\nthat enable customers' development and sale of sustainable products. Eastma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_cash_flow",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities  319'362k, \ninvesting activities -257'670k, \nfinancing activities  165'724k",
      "golden_context": "Page 65:\n\nent taxes, which we remit to the appropriate tax agencies. We invest these funds in money market\nfunds, demand deposit accounts, commercial paper and certificates of deposit from which we earn interest\nincome during the period between their receipt and disbursement.\nOur cash flows from investing and financing activities are influenced by the amount of funds held for\nclients, which can vary significantly from quarter to quarter. The balance of the funds we hold depends on our\nclients’ payroll calendars, and therefore such balance changes from period to period in accordance with the\ntiming of each payroll cycle.\nOur cash flows from financing activities are also affected by the extent to which we use available cash to\npurchase shares of common stock under our stock repurchase plan as well as restricted stock vesting events that\nresult in net share settlements and the Company paying withholding taxes on behalf of certain employees.\nThe following table summarizes the consolidated statements of cash flows for the years ended December 31,\n2021 and 2020:\nNet cash provided by (used in):\nOperating activities Investing activities Financing activities Change in cash, cash equivalents, restricted cash and restricted cash\nequivalents Year Ended December 31,\n2021 2020 % Change\n$ 319,362 $ 227,207 41%\n(257,670) (117,877) 119%\n165,724 (165,909) 200%\n$ 227,416 $ (56,579) 502%\nOperating Activities\nCash flows provided by operating activities for the year ended December 31, 2021 primarily consisted of\npayments received from our clients and interest earned on funds held for clients. Cash used in operating activities\nprimarily consisted of personnel-related expenditures to support the growth and infrastructure of our business.\nThese payments included costs of operations, advertising and other sales and marketing efforts, IT infrastructure\ndevelopment, product research and development and security and administrative costs. Compared to the year\nended December 31, 2020, our operating cash flows for the year ended December 31, 2021 were positively\nimpacted by the growth of our business.\nInvesting Activities\nCash flows used in investing activities for the year ended December 31, 2021 increased from the prior year\nperiod due to a $66.1 million increase in purchases of short-term investments from funds held for clients, a\n$41.6 million decrease in proceeds from maturities of short-term investments from funds held for clients, a\n$26.6 million increase in cash used for purchases of property and equipment as well as a $5.5 million increase in\npurchases of intangible assets related to the naming rights agreement.\nFinancing Activities\nCash flows provided by financing activities for the year ended December 31, 2021 increased from the prior\nyear period primarily due to the impact of a $282.4 million change related to the client funds obligation, which is\ndue to the timing of receipts from our clients and payments made to our clients’ employees and applicable taxing\nauthorities on their behalf as well as a $52.0 million decrease in common stock repurchases. The increase in cash\nflows provided by financing activities was s",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_company_type",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 001-36393\nPaycom Software, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 80-0957485\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification Number)\n7501 W. Memorial Road\nOklahoma City, Oklahoma 73142\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (405) 722-6900\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading\nSymbol(s) Name of each exchange on which registered\nPAYC Title of each class\nCommon Stock, $0.01 par value New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes È No ‘\nIndicate by check mark whether the registrant is a large acc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_key_financials",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue 1.056bn, EBITDA 419m, margin EBITDA almost 40%",
      "golden_context": "Page 6:\n\n2021 proved to be an exceptionally strong year as we continued to\ncreate technology that simplifies life for employees and employers\nnationwide. All in a single software, our industry-first innovations move\nHR and payroll personnel out of the role of entering data on employees’\nbehalf, replacing it with a self-service model that provides employees\ndirect access to their data. We are strengthening our position as one\nof the industry’s most dynamic leaders, which is a testament to our\nco-workers, product offerings and differentiated services.\nIn response to increasing demand, we expanded the upper end of\nour target client range from 5,000 to 10,000 employees in mid-2021.\nWe see both large and small employers recognizing the benefits\nof eliminating multiple systems by replacing them with a single\nplatform driven by direct employee usage to deliver better ROI.\nThe evidence is clear: Our clients — and the people they employ — value\na self-service solution that gives employees the responsibility of\nmanaging their personal HR information.\nOur 2021 results allowed us to achieve the “Rule of 65” — the sum\nof our revenue growth rate and adjusted EBITDA margin*\n— which\nis one of the key indicators of high-level performance for software\ncompanies. This distinction makes us one of the elite companies in\nour space. Our ability to repeatedly deliver strong revenue growth\nand high margin on an annual basis is a notable differentiator from\nour competitors.\nI am proud Paycom leads this digital workplace transform\nmation as\nwe continue to develop new products that enhance the e\nmployee\nexperience. Especially with the tight labor market we saw\nw throughout\n2021 and continuing today, our clients know investing in t\nthe employee\nexperience is critical to both hiring and retention, and the\ney achieve\nmaximum return on their investment through our softwa\nre.\nOur 2021 results illustrate this explicitly:\n» Revenue climbed by more than 25% to $1.056 billion.\n» Adjusted EBITDA increased to $419 million, representin\nng a margin\nof nearly 40%*\n.\n» Revenue retention rate grew to 94%, up three percent\nage points\nsince 2017.\nWe believe the key driver for these results is employee us\nsage of our\nsoftware. Year after year, we continue to see record high\nhs of adoption,\nas measured by our Direct Data Exchange® tool — validati\nion of the\nstrong ROI our clients gain with our system. In fact, recen\nntly published\nresearch by Ernst & Young found the average cost of a sin\nngle manual\ndata entry made by an HR professional is $4.70, undersco\noring the value",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_revenue",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 1.056bn",
      "golden_context": "Page 6:\n\n2021 proved to be an exceptionally strong year as we continued to\ncreate technology that simplifies life for employees and employers\nnationwide. All in a single software, our industry-first innovations move\nHR and payroll personnel out of the role of entering data on employees’\nbehalf, replacing it with a self-service model that provides employees\ndirect access to their data. We are strengthening our position as one\nof the industry’s most dynamic leaders, which is a testament to our\nco-workers, product offerings and differentiated services.\nIn response to increasing demand, we expanded the upper end of\nour target client range from 5,000 to 10,000 employees in mid-2021.\nWe see both large and small employers recognizing the benefits\nof eliminating multiple systems by replacing them with a single\nplatform driven by direct employee usage to deliver better ROI.\nThe evidence is clear: Our clients — and the people they employ — value\na self-service solution that gives employees the responsibility of\nmanaging their personal HR information.\nOur 2021 results allowed us to achieve the “Rule of 65” — the sum\nof our revenue growth rate and adjusted EBITDA margin*\n— which\nis one of the key indicators of high-level performance for software\ncompanies. This distinction makes us one of the elite companies in\nour space. Our ability to repeatedly deliver strong revenue growth\nand high margin on an annual basis is a notable differentiator from\nour competitors.\nI am proud Paycom leads this digital workplace transform\nmation as\nwe continue to develop new products that enhance the e\nmployee\nexperience. Especially with the tight labor market we saw\nw throughout\n2021 and continuing today, our clients know investing in t\nthe employee\nexperience is critical to both hiring and retention, and the\ney achieve\nmaximum return on their investment through our softwa\nre.\nOur 2021 results illustrate this explicitly:\n» Revenue climbed by more than 25% to $1.056 billion.\n» Adjusted EBITDA increased to $419 million, representin\nng a margin\nof nearly 40%*\n.\n» Revenue retention rate grew to 94%, up three percent\nage points\nsince 2017.\nWe believe the key driver for these results is employee us\nsage of our\nsoftware. Year after year, we continue to see record high\nhs of adoption,\nas measured by our Direct Data Exchange® tool — validati\nion of the\nstrong ROI our clients gain with our system. In fact, recen\nntly published\nresearch by Ernst & Young found the average cost of a sin\nngle manual\ndata entry made by an HR professional is $4.70, undersco\noring the value",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_revenue_growth",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 1.056bn, 25% growth",
      "golden_context": "Page 6:\n\n2021 proved to be an exceptionally strong year as we continued to\ncreate technology that simplifies life for employees and employers\nnationwide. All in a single software, our industry-first innovations move\nHR and payroll personnel out of the role of entering data on employees’\nbehalf, replacing it with a self-service model that provides employees\ndirect access to their data. We are strengthening our position as one\nof the industry’s most dynamic leaders, which is a testament to our\nco-workers, product offerings and differentiated services.\nIn response to increasing demand, we expanded the upper end of\nour target client range from 5,000 to 10,000 employees in mid-2021.\nWe see both large and small employers recognizing the benefits\nof eliminating multiple systems by replacing them with a single\nplatform driven by direct employee usage to deliver better ROI.\nThe evidence is clear: Our clients — and the people they employ — value\na self-service solution that gives employees the responsibility of\nmanaging their personal HR information.\nOur 2021 results allowed us to achieve the “Rule of 65” — the sum\nof our revenue growth rate and adjusted EBITDA margin*\n— which\nis one of the key indicators of high-level performance for software\ncompanies. This distinction makes us one of the elite companies in\nour space. Our ability to repeatedly deliver strong revenue growth\nand high margin on an annual basis is a notable differentiator from\nour competitors.\nI am proud Paycom leads this digital workplace transform\nmation as\nwe continue to develop new products that enhance the e\nmployee\nexperience. Especially with the tight labor market we saw\nw throughout\n2021 and continuing today, our clients know investing in t\nthe employee\nexperience is critical to both hiring and retention, and the\ney achieve\nmaximum return on their investment through our softwa\nre.\nOur 2021 results illustrate this explicitly:\n» Revenue climbed by more than 25% to $1.056 billion.\n» Adjusted EBITDA increased to $419 million, representin\nng a margin\nof nearly 40%*\n.\n» Revenue retention rate grew to 94%, up three percent\nage points\nsince 2017.\nWe believe the key driver for these results is employee us\nsage of our\nsoftware. Year after year, we continue to see record high\nhs of adoption,\nas measured by our Direct Data Exchange® tool — validati\nion of the\nstrong ROI our clients gain with our system. In fact, recen\nntly published\nresearch by Ernst & Young found the average cost of a sin\nngle manual\ndata entry made by an HR professional is $4.70, undersco\noring the value",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000151_segments",
      "report_id": "ID_000151",
      "company_name": "Paycom Software",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Only one segment. No separate company segments.",
      "golden_context": "Page 33:\n\nSegment Information\nWe operate in a single operating segment and a single reporting segment. Operating segments are defined as\ncomponents of an enterprise about which separate financial information is regularly evaluated by the chief\noperating decision maker function (which is fulfilled by our chief executive officer) in deciding how to allocate\nresources and in assessing performance. Our chief executive officer allocates resources and assesses performance\nbased upon financial information at the consolidated level. Since we operate in one operating segment, all\nrequired financial segment information is presented in the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_cash_flow",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating 365m, investing -23m, financing 255m",
      "golden_context": "Page 65:\n\nThe following table summarizes the consolidated statements of cash flows for the years ended December 31,\n2022 and 2021:\nYear Ended December 31,\n2022 2021 % Change\nNet cash provided by (used in):\nOperating activities $365,103 $ 319,362 14%\nInvesting activities (23,286) (257,670) -91%\nFinancing activities 254,587 165,724 54%\nChange in cash, cash equivalents, restricted cash and restricted cash\nequivalents $596,404 $ 227,416 162%\nOperating Activities\nCash flows provided by operating activities for the year ended December 31, 2022 primarily consisted of\npayments received from our clients and interest earned on funds held for clients. Cash used in operating activities\nprimarily consisted of personnel-related expenditures to support the growth and infrastructure of our business.\nThese payments included costs of operations, advertising and other sales and marketing efforts, IT infrastructure\ndevelopment, product research and development and security and administrative costs. Compared to the year\nended December 31, 2021, our operating cash flows for the year ended December 31, 2022 were positively\nimpacted by the growth of our business.\nInvesting Activities\nCash flows used in investing activities for the year ended December 31, 2022 decreased from the prior year\nperiod due to a $130.1 million decrease in purchases of investments from funds held for clients, a $114.9 million\nincrease in proceeds from investments from funds held for clients, and a $1.4 million decrease in purchases of\nintangible assets, which were partially offset by a $12.0 million increase in purchases of property and equipment.\nFinancing Activities\nCash flows provided by financing activities for the year ended December 31, 2022 increased from the prior\nyear period primarily due to the impact of a $128.1 million change related to the client funds obligation, which is\ndue to the timing of receipts from our clients and payments made to our clients’ employees and applicable taxing\nauthorities on their behalf, a $60.4 million decrease in withholding taxes paid related to net share settlements, and\na $29.0 million increase in proceeds from the issuance of debt. The increase in cash flows provided by financing\nactivities was partially offset by a $94.7 million increase in common stock repurchases, a $27.5 million increase\npayments on long-term debt, and a $6.4 million increase in payment of debt issuance costs.\nContractual Obligations\nOur principal commitme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_company_type",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 001-36393\nPaycom Software, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 80-0957485\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification Number)\n7501 W. Memorial Road\nOklahoma City, Oklahoma 73142\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (405) 722-6900\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading\nSymbol(s) Name of each exchange on which registered\nTitle of each class\nCommon Stock, $0.01 par value PAYC New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”\n“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer È Accelerated filer ‘\nNon-accelerated filer ‘ Smaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_key_financials",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "30% revenue increase, \n1375m revenues. \nAdjusted EBITDA 580m, \nEBITDA margin 42%\n\n",
      "golden_context": "Page 6:\n\nas another record year for Paycom as we continued to\ndifferentiate ourselves with innovative products, a dedicated\nservice model and an excellent workplace culture. Our consistent\nresults showed again how we are transforming our industry and\nthe way workers are paid nationwide.\nAs we near our 25th anniversary, we’re experiencing continued\ngrowth at a rate that ranks us among an elite group. We’re leading\na digital workplace transformation with our single-software\n®\n, which\nempowers employees to do their own payroll. Our software\nencompasses award-winning HR tools to streamline processes at\nevery step of the employee life cycle, allowing our clients to fully\nleverage their HR tech investment.\nThe demand for our cutting-edge app and the attractive return\nour clients see on their investments are driving record results,\nparticularly accelerated revenue growth and robust margins.\n» Revenue increased over 30% year over year to $1.375\nbillion. We had four straight quarters of over 29%\nrevenue growth over the applicable prior year periods.\n»\nmargin of 42%.*\n» Our compound annual growth rate was 25% from Jan. 1,\n2019, through Dec. 31, 2022.\n» We stored data for more than 6.5 million client employees,\nanother record high.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_revenue",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1375m revenue",
      "golden_context": "Page 6:\n\nas another record year for Paycom as we continued to\ndifferentiate ourselves with innovative products, a dedicated\nservice model and an excellent workplace culture. Our consistent\nresults showed again how we are transforming our industry and\nthe way workers are paid nationwide.\nAs we near our 25th anniversary, we’re experiencing continued\ngrowth at a rate that ranks us among an elite group. We’re leading\na digital workplace transformation with our single-software\n®\n, which\nempowers employees to do their own payroll. Our software\nencompasses award-winning HR tools to streamline processes at\nevery step of the employee life cycle, allowing our clients to fully\nleverage their HR tech investment.\nThe demand for our cutting-edge app and the attractive return\nour clients see on their investments are driving record results,\nparticularly accelerated revenue growth and robust margins.\n» Revenue increased over 30% year over year to $1.375\nbillion. We had four straight quarters of over 29%\nrevenue growth over the applicable prior year periods.\n»\nmargin of 42%.*\n» Our compound annual growth rate was 25% from Jan. 1,\n2019, through Dec. 31, 2022.\n» We stored data for more than 6.5 million client employees,\nanother record high.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_revenue_growth",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "30% revenue increase",
      "golden_context": "Page 6:\n\nas another record year for Paycom as we continued to\ndifferentiate ourselves with innovative products, a dedicated\nservice model and an excellent workplace culture. Our consistent\nresults showed again how we are transforming our industry and\nthe way workers are paid nationwide.\nAs we near our 25th anniversary, we’re experiencing continued\ngrowth at a rate that ranks us among an elite group. We’re leading\na digital workplace transformation with our single-software\n®\n, which\nempowers employees to do their own payroll. Our software\nencompasses award-winning HR tools to streamline processes at\nevery step of the employee life cycle, allowing our clients to fully\nleverage their HR tech investment.\nThe demand for our cutting-edge app and the attractive return\nour clients see on their investments are driving record results,\nparticularly accelerated revenue growth and robust margins.\n» Revenue increased over 30% year over year to $1.375\nbillion. We had four straight quarters of over 29%\nrevenue growth over the applicable prior year periods.\n»\nmargin of 42%.*\n» Our compound annual growth rate was 25% from Jan. 1,\n2019, through Dec. 31, 2022.\n» We stored data for more than 6.5 million client employees,\nanother record high.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000152_segments",
      "report_id": "ID_000152",
      "company_name": "Paycom Software",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Only a single operating segment",
      "golden_context": "Page 33:\n\nSegment Information\nWe operate in a single operating segment and a single reporting segment. Operating segments are defined as\ncomponents of an enterprise about which separate financial information is regularly evaluated by the chief\noperating decision maker function (which is fulfilled by our chief executive officer) in deciding how to allocate\nresources and in assessing performance. Our chief executive officer allocates resources and assesses performance\nbased upon financial information at the consolidated level. Because we operate in one operating segment, all\nrequired financial segment information is presented in the consolidated financial statements.\nAvailable Information\nOur internet address is www.paycom.com and our investor relations website is located at\ninvestors.paycom.com. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on\nForm 8-K and amendments to those reports can be found on our investor relations website, free of charge, as\nsoon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC.\nInformation contained on our website is not incorporated by reference into this Form 10-K. The SEC maintains a\npublic website, www.sec.gov, which includes information about and the filings of issuers that file electronically\nwith the SEC.\nItem 1A. Risk Factors\nThe risk factors noted in this section and other factors noted throughout this Form 10-K, including those\nrisks identified in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of\nOperations,” describe examples of risks, uncertainties and events that may cause our actual results to differ\nmaterially from those contained in any forward-looking statement. If one or more of these risks or uncertainties\nmaterialize, or if underlying a\n\nPage 80\n\nSegment Information\nWe operate in a single operating segment and a single reporting segment. Operating segments are defined as\ncomponents of an enterprise about which separate financial information is evaluated regularly by the chief\noperating decision maker, who is also the chief executive officer, in deciding how to allocate resources and\nassessing performance. Our chief executive officer allocates resources and assesses performance based upon\nfinancial information at the consolidated level. As we operate in one operating segment, all required financial\nsegment information is presented in the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_cash_flow",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "485m operating, investing: -197m, financing: -275m",
      "golden_context": "Page 73:\n\nOur cash flows from financing activities are also affected by the extent to which we use available cash to\npurchase shares of common stock under our stock repurchase plan as well as equity incentive award vesting\nevents that result in net share settlements and the Company paying withholding taxes on behalf of certain\nemployees. Additionally, we intend to continue to pay a quarterly cash dividend, subject to the discretion of the\nBoard of Directors.\nThe following table summarizes the consolidated statements of cash flows for the years ended December 31,\n2023 and 2022:\nYear Ended December 31,\n2023 2022 % Change\nNet cash provided by (used in):\nOperating activities $ 485,037 $365,103 33%\nInvesting activities (196,712) (23,286) 745%\nFinancing activities (274,660) 254,587 -208%\nChange in cash, cash equivalents, restricted cash and restricted cash\nequivalents $ 13,665 $596,404 -98%\nOperating Activities\nCash provided by operating activities for the year ended December 31, 2023 primarily consisted of\npayments received from our clients and interest earned on funds held for clients. Cash used in operating activities\nprimarily consisted of personnel-related expenditures to support the growth and infrastructure of our business.\nThese payments included costs of operations, advertising and other sales and marketing efforts, IT infrastructure\ndevelopment, product research and development and security and administrative costs. Compared to the year\nended December 31, 2022, our operating cash flows for the year ended December 31, 2023 were positively\nimpacted by the growth of our business.\nInvesting Activities\nCash used in investing activities for the year ended December 31, 2023 increased from the prior year due to\na $357.2 million decrease in proceeds from investments from funds held for clients, a $59.9 million increase in\npurchases of property and equipment, and a $0.1 million increase in purchases of intangible assets, which were\npartially offset by a $243.7 million decrease in purchases of investments from funds held for clients and a $0.1\nmillion increase in proceeds from the sale of property and equipment.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_company_type",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 001-36393\nPaycom Software, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 80-0957485\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n7501 W. Memorial Road\nOklahoma City, Oklahoma 73142\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (405) 722-6900\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading\nSymbol(s) Name of each exchange on which registered\nTitle of each class\nCommon Stock, $0.01 par value PAYC New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as de",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_key_financials",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "1695m, 23% increase, adjusted EBITDA 719m",
      "golden_context": "Page 6:\n\nand our profits, all while maintaining our focus\non our clients. Without a doubt, our single-software\nsolution continues to transform the digital workplace\nnow more than ever. And we’re still only getting started.\nFinancial highlights share buyback program, we returned over $365 million\nto our stockholders. This new dimension of our capital to our stockholders This new dimension of our capital\nOur successful track record continued in 2023 as\nallocation strategy represents an important milestone\ndemonstrated by strong revenue growth and robust\nthat demonstrates our maturity to simultaneously invest\nprofit margins. Here are a few of our highlights:\nin both long-term growth innovations and returning value\nto our stockholders.\n» Revenue increased 23% year-over-year to $1.694\nbillion.\n» Adjusted EBITDA increased to $719 million,\nrepresenting a full-year adjusted EBITDA margin of\n42.5%, up 30 basis points year-over-year.\n*\n» We ended the year with a very strong balance sheet,\nincluding $294 million in cash and cash equivalents\nand zero debt.\n» More than 98% of total revenues are from\nrecurring revenue.\nAs a result of our ongoing success, we announced our\nfirst cash dividend policy in 2023. We are happy to report\nthat in the first year of the policy, combined with our\n*In 2023, net income was $340.8 million and net income margin was 20.1%. For a reconciliation of net income\nto adjusted EBITDA, see Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of\nOperations—Non-GAAP Financial Measures” in the accompanying Form 10-K.\nInternational expansion\nFor the first time, employees outside the U.S. are\nexperiencing the game-changing power of Beti. We\nannounced the launch of native payroll in Mexico and\nCanada last year, followed by the United Kingdom\nin early 2024.\nThese announcements were on the heels of our Global\nHCM launch last spring, which allows businesses in more\nthan 180 countries, and in 15 languages and dialects, to\nmanage their HR nee",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_revenue",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1695m",
      "golden_context": "Page 6:\n\nand our profits, all while maintaining our focus\non our clients. Without a doubt, our single-software\nsolution continues to transform the digital workplace\nnow more than ever. And we’re still only getting started.\nFinancial highlights share buyback program, we returned over $365 million\nto our stockholders. This new dimension of our capital to our stockholders This new dimension of our capital\nOur successful track record continued in 2023 as\nallocation strategy represents an important milestone\ndemonstrated by strong revenue growth and robust\nthat demonstrates our maturity to simultaneously invest\nprofit margins. Here are a few of our highlights:\nin both long-term growth innovations and returning value\nto our stockholders.\n» Revenue increased 23% year-over-year to $1.694\nbillion.\n» Adjusted EBITDA increased to $719 million,\nrepresenting a full-year adjusted EBITDA margin of\n42.5%, up 30 basis points year-over-year.\n*\n» We ended the year with a very strong balance sheet,\nincluding $294 million in cash and cash equivalents\nand zero debt.\n» More than 98% of total revenues are from\nrecurring revenue.\nAs a result of our ongoing success, we announced our\nfirst cash dividend policy in 2023. We are happy to report\nthat in the first year of the policy, combined with our\n*In 2023, net income was $340.8 million and net income margin was 20.1%. For a reconciliation of net income\nto adjusted EBITDA, see Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of\nOperations—Non-GAAP Financial Measures” in the accompanying Form 10-K.\nInternational expansion\nFor the first time, employees outside the U.S. are\nexperiencing the game-changing power of Beti. We\nannounced the launch of native payroll in Mexico and\nCanada last year, followed by the United Kingdom\nin early 2024.\nThese announcements were on the heels of our Global\nHCM launch last spring, which allows businesses in more\nthan 180 countries, and in 15 languages and dialects, to\nmanage their HR nee",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_revenue_growth",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "1695m, 23% increase",
      "golden_context": "Page 6:\n\nand our profits, all while maintaining our focus\non our clients. Without a doubt, our single-software\nsolution continues to transform the digital workplace\nnow more than ever. And we’re still only getting started.\nFinancial highlights share buyback program, we returned over $365 million\nto our stockholders. This new dimension of our capital to our stockholders This new dimension of our capital\nOur successful track record continued in 2023 as\nallocation strategy represents an important milestone\ndemonstrated by strong revenue growth and robust\nthat demonstrates our maturity to simultaneously invest\nprofit margins. Here are a few of our highlights:\nin both long-term growth innovations and returning value\nto our stockholders.\n» Revenue increased 23% year-over-year to $1.694\nbillion.\n» Adjusted EBITDA increased to $719 million,\nrepresenting a full-year adjusted EBITDA margin of\n42.5%, up 30 basis points year-over-year.\n*\n» We ended the year with a very strong balance sheet,\nincluding $294 million in cash and cash equivalents\nand zero debt.\n» More than 98% of total revenues are from\nrecurring revenue.\nAs a result of our ongoing success, we announced our\nfirst cash dividend policy in 2023. We are happy to report\nthat in the first year of the policy, combined with our\n*In 2023, net income was $340.8 million and net income margin was 20.1%. For a reconciliation of net income\nto adjusted EBITDA, see Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of\nOperations—Non-GAAP Financial Measures” in the accompanying Form 10-K.\nInternational expansion\nFor the first time, employees outside the U.S. are\nexperiencing the game-changing power of Beti. We\nannounced the launch of native payroll in Mexico and\nCanada last year, followed by the United Kingdom\nin early 2024.\nThese announcements were on the heels of our Global\nHCM launch last spring, which allows businesses in more\nthan 180 countries, and in 15 languages and dialects, to\nmanage their HR nee",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000153_segments",
      "report_id": "ID_000153",
      "company_name": "Paycom Software",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Single segment. No separate segments are reported.",
      "golden_context": "Page 34:\n\nSegment Information\nWe operate in a single operating segment and a single reporting segment. Operating segments are defined as\ncomponents of an enterprise about which separate financial information is regularly evaluated by the chief\noperating decision maker function (which is fulfilled by our Co-Chief Executive Officers) in deciding how to\nallocate resources and in assessing performance. Our Co-Chief Executive Officers allocate resources and assess\nperformance based upon financial information at the consolidated level. Because we operate in one operating\nsegment, all required financial segment information is presented in the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_cash_flow",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 1.1bn, investing: -1bn, financing: -1.3bn",
      "golden_context": "Page 113:\n\nCash Flow Summary\nThe following summary discussion of our cash flows is based on the Consolidated Statements of Cash Flows\nand is not meant to be an all-inclusive discussion of the changes in our cash flows for the periods presented below.\nCash and cash equivalents and cash held in escrows aggregated approximately $0.5 billion and $1.7 billion at\nDecember 31, 2021 and 2020, respectively, representing a decrease of approximately $1.2 billion. The following\ntable sets forth changes in cash flows:\nYear ended December 31,\n2021 2020\nIncrease\n(Decrease)\n(in thousands)\nNet cash provided by operating activities $ 1,133,227 $ 1,156,840 $ (23,613)\nNet cash used in investing activities (1,039,956) (613,719) (426,237)\nNet cash provided by (used in) financing activities (1,311,442) 484,322 (1,795,764)\nOur principal source of cash flow is related to the operation of our properties. The weighted-average term of\nour in-place leases, excluding residential units, was approximately 7.9 years as of December 31, 2021, including\nleases signed by our unconsolidated joint ventures, with occupancy rates historically in the range of 88% to 94%.\nGenerally, our properties generate a relatively consistent stream of cash flow that provides us with resources to pay\noperating expenses, debt service and fund regular quarterly dividend and distribution payment requirements. In\naddition, over the past several years, we have raised capital through the sale of some of our properties and through\nsecured and unsecured borrowings.\nThe full extent of the impact of COVID-19 on our business, operations and financial results will depend on\nnumerous evolving factors that we may not be able to accurately predict. In addition, we cannot predict the impact\nthat COVID-19 will have on our tenants, employees, contractors, lenders, suppliers, vendors and joint venture\npartners; any material adverse effect on these parties could also have a material adverse effect on us.\nCash is used in investing activities to fund acquisitions, development, net investments in unconsolidated joint\nventures and maintenance and repositioning capital expenditures. We selectively invest in new projects that enable\nus to take advantage of our development, leasing, financing and property management skills and invest in existing\nbuildings to enhance or maintain our market position. Cash used in investing activities for the year ended\nDecember 31, 2021 consisted primarily of acquisitions of real estate, development projects, building and tenant\nimprovements and capital contributions to unconsolidated joint ventures, partially offset by proceeds from the sales\nof real estate and proceeds from sale of investment in unconsolidated joint ventures. Cash used in investing\nactivities for the year ended December 31, 2020 consisted primarily of acquisitions of real estate, development\nprojects, building and tenant improvements and capital contributions to unconsolidated joint ventures, partially offset\nby the proceed",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_company_type",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 21:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-13087 (Boston Properties, Inc.)\nCommission File Number: 0-50209 (Boston Properties Limited Partnership)\nBOSTON PROPERTIES, INC.\nBOSTON PROPERTIES LIMITED PARTNERSHIP\n(Exact name of Registrants as specified in its charter)\nBoston Properties, Inc. Delaware 04-2473675\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\nBoston Properties Limited Partnership Delaware 04-3372948\n(State or other jurisdiction of incorporation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_key_financials",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "2.8bn share of annual revenue, 1.6bn share of annual EBITDAre, 3.4% dividend yield.",
      "golden_context": "Page 3:\n\n2021 Quick Facts\n201\nProperties1\n$2.8B\nBXP’s Share of\nAnnual Revenue2\nS&P 500\nCompany\n52.8M\nSquare Feet Owned1\n$1.6B\nBXP’s Share of\nAnnual EBITDAre2\nTop 5%\nSustainalytics\nGlobal Universe\n4.6M\nSquare Foot Life\nSciences Portfolio1,4\n3.4%\nDividend Yield\n7.8 Years\nWeighted-average lease term3\n4.1M\nSquare feet currently under devel-\nopment / redevelopment1,5\n1208%\nTotal Return Since 1997 IPO\n1.6x S&P 500 1.3x REIT Index6\n(1) Includes 100% of consolidated and unconsolidated properties.\n(2) Refer to disclosures relating to non-GAAP Financial Measures on the pages immediately following the Form 10-K.\n(3) Excludes residential and hotel properties. Calculation is based on BXP’s Share of Annualized Rental Obligations. Refer to disclosures relating to non-GAAP Financial Measures on the pages\nimmediately following the Form 10-K.\n(4) Includes 3.4M SF of stabilized portfolio plus 1.2M SF of current life sciences redevelopments/lab conversions in process. Includes 100% ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_revenue",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "2888621k",
      "golden_context": "Page 137:\n\nBOSTON PROPERTIES, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except for per share amounts)\nYear ended December 31,\n2021 2020 2019\nRevenue\nLease $ 2,753,014 $ 2,646,261 $ 2,758,014\nParking and other 81,814 70,680 103,534\nHotel 13,609 7,478 48,589\nDevelopment and management services 27,697 29,641 40,039\nDirect reimbursements of payroll and related costs from management\nservices contracts 12,487 11,626 10,386\nTotal revenue 2,888,621 2,765,686 2,960,562\nExpenses\nOperating\nRental 1,021,151 1,017,208 1,050,010\nHotel 12,998 13,136 34,004\nGeneral and administrative 151,573 133,112 140,777\nPayroll and related costs from management services contracts 12,487 11,626 10,386\nTransaction costs 5,036 1,531 1,984\nDepreciation and amortization 717,336 683,751 677,764\nTotal expenses 1,920,581 1,860,364 1,914,925\nOther income (expense)\nIncome (loss) from unconsolidated joint ventures (2,570) (85,110) 46,592\nGains on sales of real estate 123,660 618,982 709\nInterest and other income (loss) 5,704 5,953 18,939\nGains from investments in securities 5,626 5,261 6,417\nImpairment loss — — (24,038)\nLosses from early extinguishment of debt (45,182) — (29,540)\nInterest expense (423,346) (431,717) (412,717)\nNet income 631,932 1,018,691 651,999\nNet income attributable to noncontrolling interests\nNoncontrolling interests in property partnerships (70,806) (48,260) (71,120)\nNoncontrolling interest—common units of the Operating Partnership (55,931) (97,704) (59,345)\nNet income attributable to Boston Properties, Inc. 505,195 872,727 521,534\nPreferred dividends (2,560) (10,500) (10,500)\nPreferred stock redemption charge (6,412) — —\nNet income attributable to Boston Properties, Inc. common shareholders $ 496,223 $ 862,227 $ 511,034\nBasic earnings per common share attributable to Boston Properties, Inc.\ncommon shareholders:\nNet income $ 3.18 $ 5.54 $ 3.31\nWeighted average number of common shares outstanding 156,116 155,432 154,582\nDiluted earnings per common share attributable to Boston Properties, Inc.\ncommon shareholders:\nNet income $ 3.17 $ 5.54 $ 3.30\nWeighted average number of common and common equivalent shares\noutstanding 156,376 155,517 154,883\nThe accompanying notes are an integral part of these consolidated financial statements.\n111\nBOSTON PROPERTIES, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(in thousands)\nYear ended December 31,\n2021 2020 2019\nNet income $ 631,932 $ 1,018,691 $ 651,999\nOther comprehensive income (loss):\nEffective portion of interest rate contracts 8,544 (7,848) (6,751)\nAmortization of interest rate contracts (1) 6,704 6,697 6,664\nOther comprehensive income (loss) 15,248 (1,151) (87)\nComprehensive income 647,180 1,017,540 651,912\nNet income attributable to noncontrolling interests (126,737) (145,964) (130,465)\nOther comprehensive income attributable to noncontrolling interests (2,020) (404) (507)\nComprehensive income attributable to Boston Properties, Inc. $ 518,423 $ 871,172 $ 520,940\n_______________\n(1) Amounts reclassified from comprehensive income primarily to interest expense within Boston Properties, Inc.’s\nConsolidated Statements of Operation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_revenue_growth",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 2888621k, prior year 2765686k",
      "golden_context": "Page 137:\n\nBOSTON PROPERTIES, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except for per share amounts)\nYear ended December 31,\n2021 2020 2019\nRevenue\nLease $ 2,753,014 $ 2,646,261 $ 2,758,014\nParking and other 81,814 70,680 103,534\nHotel 13,609 7,478 48,589\nDevelopment and management services 27,697 29,641 40,039\nDirect reimbursements of payroll and related costs from management\nservices contracts 12,487 11,626 10,386\nTotal revenue 2,888,621 2,765,686 2,960,562\nExpenses\nOperating\nRental 1,021,151 1,017,208 1,050,010\nHotel 12,998 13,136 34,004\nGeneral and administrative 151,573 133,112 140,777\nPayroll and related costs from management services contracts 12,487 11,626 10,386\nTransaction costs 5,036 1,531 1,984\nDepreciation and amortization 717,336 683,751 677,764\nTotal expenses 1,920,581 1,860,364 1,914,925\nOther income (expense)\nIncome (loss) from unconsolidated joint ventures (2,570) (85,110) 46,592\nGains on sales of real estate 123,660 618,982 709\nInterest and other income (loss) 5,704 5,953 18,939\nGains from investments in securities 5,626 5,261 6,417\nImpairment loss — — (24,038)\nLosses from early extinguishment of debt (45,182) — (29,540)\nInterest expense (423,346) (431,717) (412,717)\nNet income 631,932 1,018,691 651,999\nNet income attributable to noncontrolling interests\nNoncontrolling interests in property partnerships (70,806) (48,260) (71,120)\nNoncontrolling interest—common units of the Operating Partnership (55,931) (97,704) (59,345)\nNet income attributable to Boston Properties, Inc. 505,195 872,727 521,534\nPreferred dividends (2,560) (10,500) (10,500)\nPreferred stock redemption charge (6,412) — —\nNet income attributable to Boston Properties, Inc. common shareholders $ 496,223 $ 862,227 $ 511,034\nBasic earnings per common share attributable to Boston Properties, Inc.\ncommon shareholders:\nNet income $ 3.18 $ 5.54 $ 3.31\nWeighted average number of common shares outstanding 156,116 155,432 154,582\nDiluted earnings per common share attributable to Boston Properties, Inc.\ncommon shareholders:\nNet income $ 3.17 $ 5.54 $ 3.30\nWeighted average number of common and common equivalent shares\noutstanding 156,376 155,517 154,883\nThe accompanying notes are an integral part of these consolidated financial statements.\n111\nBOSTON PROPERTIES, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(in thousands)\nYear ended December 31,\n2021 2020 2019\nNet income $ 631,932 $ 1,018,691 $ 651,999\nOther comprehensive income (loss):\nEffective portion of interest rate contracts 8,544 (7,848) (6,751)\nAmortization of interest rate contracts (1) 6,704 6,697 6,664\nOther comprehensive income (loss) 15,248 (1,151) (87)\nComprehensive income 647,180 1,017,540 651,912\nNet income attributable to noncontrolling interests (126,737) (145,964) (130,465)\nOther comprehensive income attributable to noncontrolling interests (2,020) (404) (507)\nComprehensive income attributable to Boston Properties, Inc. $ 518,423 $ 871,172 $ 520,940\n_______________\n(1) Amounts reclassified from comprehensive income primarily to interest expense within Boston Properties, Inc.’s\nConsolidated Statements of Operation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000154_segments",
      "report_id": "ID_000154",
      "company_name": "BXP",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Boston, LA, New York, San Francisco, Seattle, Washington DC",
      "golden_context": "Page 193:\n\ncial information presented in accordance with GAAP.\nAsset information by segment is not reported because the Company does not use this measure to assess\nperformance. Therefore, depreciation and amortization expense is not allocated among segments. Preferred stock/\nunit redemption charge, preferred dividends/distributions, interest expense, losses from early extinguishment of\ndebt, impairment loss, depreciation and amortization expense, transaction costs, payroll and related costs from\nmanagement services contracts, corporate general and administrative expense, gains from investments in\nsecurities, interest and other income (loss), gains on sales of real estate, income (loss) from unconsolidated joint\nventures, direct reimbursements of payroll and related costs from management services contracts and development\nand management services revenue are not included in NOI and are provided as reconciling items to the Company’s\nreconciliations of its share of NOI to net income attributable to common shareholders/unitholders.\nThe Company’s segments are based on the Company’s method of internal reporting which classifies its\noperations by geographic area. The Company’s segments by geographic area are Boston, Los Angeles, New York,\nSan Francisco, Seattle and Washington, DC. On September 1, 2021, the Company invested in a joint venture that\nacquired Safeco Plaza located in Seattle, Washington (See Note 6). As such, the Seattle region was identified as a\nsegment during the third quarter of 2021. The Company also presents information for each segment by property\ntype, including Office, Residential and Hotel.\nIncluded within the Office property type are commercial office and retail leases, as well as parking revenue.\nAny write-off for bad debt, including accrued rent, will be recorded as a reduction to lease revenue. During the year\nended December 31, 2021 and 2020, the Company wrote off approximately $1.3 million and $90.3 million,\nrespectively, related to accrued rent, net balances and accounts receivable, net balances. The write-offs were for\ntenants, primarily in the retail and co-working sectors, that either terminated their leases or for which the Company\ndetermined their accrued rent and/or accounts receivable balances were no longer probable of collection.\nParking and other revenue for the year ended December 31, 2021 increased by approximately $11.1 million\ncompared to the year ended December 31, 2020. Parking and other revenue for the year ended December 31,\n2020 decreased by approximately $32.9 million compared to 2019. These decreases were primarily in transient\nand monthly parking revenue.\nThe Boston Marriott Cambridge closed in March 2020 due to COVID-19. The hotel re-opened on October 2,\n2020 and has operated at lower occupancy levels due to the continued impact of COVID-19 on business and leisure\ntravel. The closing of the hotel for more than two fiscal quarters, and the decreased demand and occupancy since\nits re-opening, have had, and are expected to continue to have, a material adverse effect on the hotel’s operations\nand thus the results of the Company’s Hotel ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000155_key_financials",
      "report_id": "ID_000155",
      "company_name": "BXP",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "5.8% dividend yield, 3.0bn share of annual revenue",
      "golden_context": "Page 3:\n\nQuick Facts\n1941\n1941\nPROPERTIES\nPROPERTIES\n54.1M1\n54.1M1\nSQUARE FEET\nSQUARE FEET\nOWNED\nOWNED\n5.6M1,4,5\n5.6M1,4,5\nSQUARE FOOT\nSQUARE FOOT\nLIFE SCIENCES\nLIFE SCIENCES\nPORTFOLIO\nPORTFOLIO\n$3.0B2\n$3.0B2\nBXP’S SHARE OF\nBXP’S SHARE OF\nANNUAL REVENUE\nANNUAL REVENUE\n$1.8B2\n$1.8B2\nBXP’S SHARE OF\nBXP’S SHARE OF\nANNUAL EBITDA Are re\nANNUAL EBITDAre\n5.8%7\n5.8%7\nDIV IDEND Y IELD\nDIV IDEND Y IELD\nS&P 500\nS&P 500\nCOMPANY\nCOMPANY\nTop 4%\nTop 4%\nSUSTAINALYTICS\nSUSTAINALYTICS\nGLOBAL UNIVERSE\nGLOBAL UNIVERSE\n7.7 Years3\n7.7 Years3\nWEIGHTED-AVERAGE\nWEIGHTED-AVERAGE\nLEASE TERM\nLEASE TERM\n4.0M1,5\n4.0M1,5\nSQUARE FEET CURRENTLY UNDER\nSQUARE E FEET CURRENTLY UNDER\nDEVELOPMENT ⁄ REDEVELOPMENT\nDEVELOPMENT ⁄ REDEVELOPMENT\n703%6\n703%6\nTOTAL RETURN SINCE\nTOTAL RETURN SINCE\n1997 IPO: 1.2x S&P 500;\n1997 IPO: 1.2x S&P 500;\n1.1x REIT INDEX",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_cash_flow",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 344257k, investing -666590k, financing 50212k",
      "golden_context": "Page 82:\n\nlbemarle Corporation and Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In Thousands)\nYear Ended December 31 2021 2020 2019\nCash and cash equivalents at beginning of year $ 746,724 $ 613,110 $ 555,320\nCash flows from operating activities:\nNet income 199,942 446,615 604,357\nAdjustments to reconcile net income to cash flows from operating activities:\nDepreciation and amortization 254,000 231,984 213,484\nGain on sale of business/interest in properties, net (295,971) (7,168) —\nGain on sale of property — — (14,411)\nStock-based compensation and other 20,120 22,837 19,680\nEquity in net income of unconsolidated investments (net of tax) (95,770) (127,521) (129,568)\nDividends received from unconsolidated investments and nonmarketable securities 78,391 88,161 71,746\nPension and postretirement (benefit) expense (74,010) 45,658 31,515\nPension and postretirement contributions (30,253) (16,434) (16,478)\nUnrealized gain on investments in marketable securities (3,818) (4,635) (2,809)\nLoss on early extinguishment of debt 28,955 — 4,829\nDeferred income taxes (38,500) (1,976) 14,394\nChanges in current assets and liabilities, net of effects of acquisitions and divestitures:\n(Increase) decrease in accounts receivable (49,295) 100,118 (18,220)\n(Increase) decrease in inventories (127,401) 51,978 (46,304)\nDecrease (increase) in other current assets 17,411 7,902 (32,941)\nIncrease (decrease) in accounts payable 143,939 (31,519) (12,234)\nIncrease (decrease) in accrued expenses and income taxes payable 127,068 (215,011) (4,640)\nNon-cash transfer of 40% value of construction in progress of Kemerton plant to MRL 135,928 179,437 164,496\nOther, net 53,521 28,488 (127,522)\nNet cash provided by operating activities 344,257 798,914 719,374\nCash flows from investing activities:\nAcquisitions, net of cash acquired — (22,572) (820,000)\nCapital expenditures (953,667) (850,477) (851,796)\nCash proceeds from divestitures, net 289,791 — —\nProceeds from sale of joint venture — 11,000 —\nProceeds from sale of property and equipment — — 10,356\nSales of marketable securities, net 3,774 903 384\nInvestments in equity and other corporate investments (6,488) (2,427) (2,569)\nNet cash used in investing activities (666,590) (863,573) (1,663,625)\nCash flows from financing activities:\nProceeds from issuance of common stock 1,453,888 — —\nProceeds from borrowings of other long-term debt — 452,163 1,597,807\nRepayments of long-term debt and credit agreements (1,173,823) (250,000) (175,215)\nOther borrowings (repayments), net 60,991 137,635 (126,364)\nFees related to early extinguishment of debt (24,877) — (4,419)\nDividends paid to shareholders (177,853) (161,818) (152,204)\nDividends paid to noncontrolling interests (96,136) (32,061) (83,187)\nProceeds from exercise of stock options 18,392 40,437 4,814\nWithholding taxes paid on stock-based compensation award distributions (8,140) (5,143) (11,031)\nOther (2,230) (3,952) (7,514)\nNet cash provided by financing activities 50,212 177,261 1,042,687\nNet effect of foreign exchange on cash and cash equivalents (35,331) 21,012 (40,646)\n(Decrease) increase in cash and cash equivalents (307,452) 133,614 57,790\nCash and cash equivalents at end of year $ 439,272 $ 746,724 $ 613,110\nSee accompanying notes to the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_company_type",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n________________________________________\nFORM 10-K\n________________________________________\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended December 31, 2021\nor\nTransition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\n☐\nFor the transition period from to\nCommission file number 001-12658\nALBEMARLE CORPORATION\n(Exact name of registrant as specified in its charter)\nVirginia 54-1692118\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n4250 Congress Street, Suite 900\nCharlotte, North Carolina 28209\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (980) - 299-5700\nTitle of each class COMMON STOCK, $.01 Par Value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol ALB Name of each exchange on which registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)\nduring the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions\nof “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):\nLarge accelerated filer ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_key_financials",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "0.39 per share dividend, earnings of 123.7m",
      "golden_context": "Page 49:\n\n2021 Highlights\n• In the first quarter of 2021, we increased our quarterly dividend for the 28th consecutive year, to $0.39 per share.\n• We announced the planned capacity expansion at our lithium production facility in Silver Peak, Nevada beginning in 2021. We plan to invest $30 million to $50 million to double the current\nproduction at the Silver Peak site by 2025, making full use of the brine water rights.\n• On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $0.01 per share, at a price to the public of $153.00 per share. We also\ngranted to the underwriters an option to purchase up to an additional 1,274,509 shares, which was exercised. The total gross proceeds from this offering were approximately $1.5 billion, before\ndeducting expenses, underwriting discounts and commissions.\n• Using the proceeds of the underwritten public offering of shares of our common stock, we repaid the outstanding principal balances of the 1.875% senior notes due in 2021, the floating rate notes\ndue in 2022, the unsecured credit facility originally entered into on August 14, 2019, as amended and restated on December 15, 2020 (the “2019 Credit Facility”) and the commercial paper notes. In\naddition, we repaid €123.8 million of the 1.125% notes due in 2025 and $128.4 million of the 3.45% senior notes due in 2029. As a result, we recorded a loss on early extinguishment of debt of\n$29.0 million, representing the tender premiums, fees, unamortized discounts and unamortized deferred financing costs from the redemption of this debt during 2021.\n• We announced that we have joined the United Nations Global Compact, a voluntary leadership platform for the development, implementation and disclosure of responsible business practices, and\nthe largest corporate sustainability initiative in the world.\n• On June 1, 2021, we completed the sale of our FCS business to Grace for proceeds of approximately $570 million, consisting of $300 million in cash and the issuance to Albemarle of preferred\nequity of a Grace subsidiary having an aggregate stated value of $270 million. The sale included our operations in Tyrone, Pennsylvania and South Haven, Michigan.\n• On June 30, 2021, we announced the opening of our Battery Materials Innovation Center (“BMIC”) located at the Kings Mountain, North Carolina site. The BMIC is now fully operational and will\nsupport our lithium hydroxide, lithium carbonate and advanced energy storage materials growth platforms.\n• On September 30, 2021, we signed a definitive agreement to acquire all of the outstanding equity of Tianyuan, for approximately $200 million in cash. Tianyuan's operations include a recently\nconstructed lithium processing plant with a designed annual conversion capacity of up to 25,000 metric tons of LCE per year.\n• On October 22, 2021, we announced that we signed two investment agreements in China in support of the expansion of our lithium conversion capacity. Following the agreements, we will move\nforward with the design, engineering and permitting plans to build aoog\n• conversion plant at each site, each of which has planned production capacity initially targeting 50,000 metric tons lithium hydroxide per annum. Subject to additional studies and approvals, it is\nexpected these plants would start construction during 2022 and complete construction by the end of 2024.\n• Our 60%-owned MARBL joint venture recently announced its intention to resume spodumene concentrate production at the Wodgina spodumene mine, with the production restart expected during\nthe second quarter of 2022.\n• We achieved earnings of $123.7 million during 2021 as compared to $375.8 million for 2020. Earnings for 2021 included an after tax gain of $330.8 million from the sale of the FCS business, but\nwere negatively impact by an after tax loss of $508.5 million following an arbitration ruling related to a legal matter from a legacy Rockwood Holdings, Inc. (“Rockwood”) business sold to\nHuntsman International LLC (“Huntsman”) prior to our acquisition of Rockwood. In addition, 2021 included a $132.4 million expense related to MRL’s 40% interest in cost overruns of the lithium\nhydroxide conversion assets being built in Kemerton included as part of the Wodgina purchase price. Earnings for 2021 includes pension and other postretirement benefit (“OPEB”) actuarial gains\nof $43.6 million after income taxes, compared to pension and OPEB actuarial losses of $40.9 million after income taxes in 2020.\n• Cash flows from operations in 2021 were $344.3 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_revenue",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "3327957k",
      "golden_context": "Page 55:\n\nded in Corporate. Segment data includes intersegment transfers of raw materials at cost and allocations for certain corporate costs.\nOur chief operating decision maker uses adjusted EBITDA (as defined below) to assess the ongoing performance of the Company’s business segments and to allocate resources. We define adjusted\nEBITDA as earnings before interest and financing expenses, income tax expense, depreciation and amortization, as adjusted on a consistent basis for certain non-operating, non-recurring or unusual items\nin a balanced manner and on a segment basis. These non-operating, non-recurring or unusual items may include acquisition and integration related costs, gains or losses on sales of businesses, restructuring\ncharges, facility divestiture charges, certain litigation and arbitration costs and charges, non-operating pension and OPEB items and other significant non-recurring items. In addition, management uses\nadjusted EBITDA for business planning purposes and as a significant component in the calculation of performance-based compensation for management and other employees. We reported adjusted\nEBITDA because management believes it provides transparency to investors and enables period-to-period comparability of financial performance. Adjusted EBITDA is a financial measure that is not\nrequired by, or presented in accordance with, the generally accepted accounting principles in the United States (“U.S. GAAP”). Adjusted EBITDA should not be considered as an alternative to Net (loss)\nincome attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP, or any other financial measure reported in accordance\nwith U.S. GAAP.\nYear Ended December 31, Percentage Change\n2021 % 2020 % 2021 vs. 2020\n(In thousands, except percentages)\nNet sales:\nLithium $ 1,363,284 41.0 % $ 1,144,778 36.6 % 19 %\nBromine 1,128,343 33.9 % 964,962 30.8 % 17 %\nCatalysts 761,235 22.9 % 797,914 25.5 % (5)%\nAll Other 75,095 2.2 % 221,255 7.1 % (66)%\nTotal net sales $ 3,327,957 100.0 % $ 3,128,909 100.0 % 6 %\nAdjusted EBITDA:\nLithium $ 479,538 55.1 % $ 393,093 48.0 % 22 %\nBromine 360,682 41.4 % 323,605 39.5 % 11 %\nCatalysts 106,941 12.3 % 130,134 15.9 % (18)%\nAll Other 29,858 3.4 % 84,821 10.4 % (65)%\nCorporate (106,045) (12.2)% (112,915) (13.8)% (6)%\nTotal adjusted EBITDA $ 870,974 100.0 % $ 818,738 100.0 % 6 %\n54",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_revenue_growth",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "3327957k, prior year 3128909k ",
      "golden_context": "Page 55:\n\nded in Corporate. Segment data includes intersegment transfers of raw materials at cost and allocations for certain corporate costs.\nOur chief operating decision maker uses adjusted EBITDA (as defined below) to assess the ongoing performance of the Company’s business segments and to allocate resources. We define adjusted\nEBITDA as earnings before interest and financing expenses, income tax expense, depreciation and amortization, as adjusted on a consistent basis for certain non-operating, non-recurring or unusual items\nin a balanced manner and on a segment basis. These non-operating, non-recurring or unusual items may include acquisition and integration related costs, gains or losses on sales of businesses, restructuring\ncharges, facility divestiture charges, certain litigation and arbitration costs and charges, non-operating pension and OPEB items and other significant non-recurring items. In addition, management uses\nadjusted EBITDA for business planning purposes and as a significant component in the calculation of performance-based compensation for management and other employees. We reported adjusted\nEBITDA because management believes it provides transparency to investors and enables period-to-period comparability of financial performance. Adjusted EBITDA is a financial measure that is not\nrequired by, or presented in accordance with, the generally accepted accounting principles in the United States (“U.S. GAAP”). Adjusted EBITDA should not be considered as an alternative to Net (loss)\nincome attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in accordance with U.S. GAAP, or any other financial measure reported in accordance\nwith U.S. GAAP.\nYear Ended December 31, Percentage Change\n2021 % 2020 % 2021 vs. 2020\n(In thousands, except percentages)\nNet sales:\nLithium $ 1,363,284 41.0 % $ 1,144,778 36.6 % 19 %\nBromine 1,128,343 33.9 % 964,962 30.8 % 17 %\nCatalysts 761,235 22.9 % 797,914 25.5 % (5)%\nAll Other 75,095 2.2 % 221,255 7.1 % (66)%\nTotal net sales $ 3,327,957 100.0 % $ 3,128,909 100.0 % 6 %\nAdjusted EBITDA:\nLithium $ 479,538 55.1 % $ 393,093 48.0 % 22 %\nBromine 360,682 41.4 % 323,605 39.5 % 11 %\nCatalysts 106,941 12.3 % 130,134 15.9 % (18)%\nAll Other 29,858 3.4 % 84,821 10.4 % (65)%\nCorporate (106,045) (12.2)% (112,915) (13.8)% (6)%\nTotal adjusted EBITDA $ 870,974 100.0 % $ 818,738 100.0 % 6 %\n54",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000157_segments",
      "report_id": "ID_000157",
      "company_name": "Albemarle Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Lithium, Bromine, Catalysts.",
      "golden_context": "Page 4:\n\nBusiness Segments\nDuring 2021, we managed and reported our operations under three reportable segments: Lithium, Bromine and Catalysts. Each segment has a dedicated team of sales, research and development,\nprocess engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving execution through greater asset efficiency, market focus, agility and\nresponsiveness. Financial results and discussion about our segments included in this report are organized according to these categories except where noted.\nFor financial information regarding our reportable segments and geographic area information, see Note 25,\nincluded in Part II, Item 8 of this report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_cash_flow",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "1.9bn cash flow from operations",
      "golden_context": "Page 54:\n\n2022 Highlights\n• In the first quarter of 2022, we increased our quarterly dividend for the 29th consecutive year, to $0.395 per share.\n• In January 2022, we signed a joint development agreement with 6K to explore the use of 6K’s patented UniMelt® advanced, sustainable materials production\nplatform to develop novel lithium battery materials through potentially disruptive manufacturing processes.\n• In February 2022, we announced that we signed a non-binding letter agreement with our MARBL joint venture partner, MRL, to explore a potential\nexpansion of the MARBL joint venture, in an effort to expand lithium conversion capacity with increased optionality and reduced risk.\n• In May 2022, we issued $1.7 billion of senior notes pursuant to an underwritten public offering. The proceeds from this issuance were used to redeem the\n4.15% Senior Notes due in 2024 (the “2024 Notes”), repay the balance of commercial paper outstanding and for general corporate purposes.\n• Production of spodumene concentrate from the first and second trains at the Wodgina mine managed by our 60%-owned MARBL joint venture was achieved\nin May and July of this year, respectively.\n• We announced plans to build integrated lithium operations in the United States, including the Kings Mountain, North Carolina spodumene mine and a lithium\nconversion plant in the Southeast.\n• We announced the conclusion of our strategic review of the Catalysts business. As a result of the review, we chose to retain the business under a separate,\nwholly-owned subsidiary of Albemarle that has been renamed Ketjen in 2023. This structure is intended to allow the Catalysts business to respond to unique\ncustomer needs and global market dynamics more effectively while also achieving its growth ambitions.\n• We announced the realignment of our Lithium and Bromine global business units into a new corporate structure designed to better meet customer needs and\nfoster talent required to deliver in a competitive global environment. The realignment was effective January 1, 2023, and resulted in the following three\nreportable segments: (1) Energy Storage; (2) Specialties; and (3) Ketjen (Catalysts).\n• In October 2022, we announced that we have been awarded a nearly $150 million grant from the U.S. Department of Energy to expand domestic\nmanufacturing of batteries for EVs and the electric grid and for materials and components\n\nPage 55:\n\ncurrently imported from other countries. The grant funding is intended to support a portion of the anticipated cost to construct a new, commercial-scale U.S.\n-\nbased lithium concentrator facility at our Kings Mountain, North Carolina, location.\n• In October 2022, we completed the acquisition of all of the outstanding equity of Qinzhou, for approximately $200 million in cash. Qinzhou's operations\ninclude a recently constructed lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi, which began commercial production in\nthe first half of 2022. The plant has designed annual conversion capacity of up to 25,000 metric tonnes of LCE and is capable of producing battery-grade\nlithium carbonate and lithium hydroxide.\n• In December 2022, we unveiled a groundbreaking product, MercLok™\n, which captures mercury from soil and mining waste, helping to remove this harmful\nelement from the food chain.\n• In December 2022, we announced the acquisition of a location in Charlotte, North Carolina, where we intend to invest at least $180 million to establish the\nAlbemarle Technology Park, a world-class facility designed for novel materials research, advanced process development, and acceleration of next-generation\nlithium products to market. We anticipate that innovations from the new site will enhance lithium recovery, improve production methods, and introduce new\nforms of lithium to enable breakthrough levels of battery performance. In addition, we anticipate the creation of at least 200 jobs at the site.\n• We achieved net income of $2.7 billion during 2022 compared to $123.7 million for 2021. The increase in 2022 net income was primarily driven by increased\nlithium prices reflecting tight market conditions and greater volumes sold under index-referenced and variable-based contracts.\n• Cash flows from operations in 2022 were $1.9 billion compared to $344.3 million in 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_company_type",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n________________________________________\nFORM 10-K\n________________________________________\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended December 31, 2022\nor\nTransition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\n☐\nFor the transition period from to\nCommission file number 001-12658\nALBEMARLE CORPORATION\n(Exact name of registrant as specified in its charter)\nVirginia 54-1692118\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n4250 Congress Street, Suite 900\nCharlotte, North Carolina 28209\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (980) - 299-5700\nTitle of each class COMMON STOCK, $.01 Par Value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol ALB Name of each exchange on which registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at\nleast the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerate",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_key_financials",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "0.395 dividend per share, net income 2.7bn",
      "golden_context": "Page 54:\n\n2022 Highlights\n• In the first quarter of 2022, we increased our quarterly dividend for the 29th consecutive year, to $0.395 per share.\n• In January 2022, we signed a joint development agreement with 6K to explore the use of 6K’s patented UniMelt® advanced, sustainable materials production\nplatform to develop novel lithium battery materials through potentially disruptive manufacturing processes.\n• In February 2022, we announced that we signed a non-binding letter agreement with our MARBL joint venture partner, MRL, to explore a potential\nexpansion of the MARBL joint venture, in an effort to expand lithium conversion capacity with increased optionality and reduced risk.\n• In May 2022, we issued $1.7 billion of senior notes pursuant to an underwritten public offering. The proceeds from this issuance were used to redeem the\n4.15% Senior Notes due in 2024 (the “2024 Notes”), repay the balance of commercial paper outstanding and for general corporate purposes.\n• Production of spodumene concentrate from the first and second trains at the Wodgina mine managed by our 60%-owned MARBL joint venture was achieved\nin May and July of this year, respectively.\n• We announced plans to build integrated lithium operations in the United States, including the Kings Mountain, North Carolina spodumene mine and a lithium\nconversion plant in the Southeast.\n• We announced the conclusion of our strategic review of the Catalysts business. As a result of the review, we chose to retain the business under a separate,\nwholly-owned subsidiary of Albemarle that has been renamed Ketjen in 2023. This structure is intended to allow the Catalysts business to respond to unique\ncustomer needs and global market dynamics more effectively while also achieving its growth ambitions.\n• We announced the realignment of our Lithium and Bromine global business units into a new corporate structure designed to better meet customer needs and\nfoster talent required to deliver in a competitive global environment. The realignment was effective January 1, 2023, and resulted in the following three\nreportable segments: (1) Energy Storage; (2) Specialties; and (3) Ketjen (Catalysts).\n• In October 2022, we announced that we have been awarded a nearly $150 million grant from the U.S. Department of Energy to expand domestic\nmanufacturing of batteries for EVs and the electric grid and for materials and components\n\nPage 55:\n\ncurrently imported from other countries. The grant funding is intended to support a portion of the anticipated cost to construct a new, commercial-scale U.S.\n-\nbased lithium concentrator facility at our Kings Mountain, North Carolina, location.\n• In October 2022, we completed the acquisition of all of the outstanding equity of Qinzhou, for approximately $200 million in cash. Qinzhou's operations\ninclude a recently constructed lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi, which began commercial production in\nthe first half of 2022. The plant has designed annual conversion capacity of up to 25,000 metric tonnes of LCE and is capable of producing battery-grade\nlithium carbonate and lithium hydroxide.\n• In December 2022, we unveiled a groundbreaking product, MercLok™\n, which captures mercury from soil and mining waste, helping to remove this harmful\nelement from the food chain.\n• In December 2022, we announced the acquisition of a location in Charlotte, North Carolina, where we intend to invest at least $180 million to establish the\nAlbemarle Technology Park, a world-class facility designed for novel materials research, advanced process development, and acceleration of next-generation\nlithium products to market. We anticipate that innovations from the new site will enhance lithium recovery, improve production methods, and introduce new\nforms of lithium to enable breakthrough levels of battery performance. In addition, we anticipate the creation of at least 200 jobs at the site.\n• We achieved net income of $2.7 billion during 2022 compared to $123.7 million for 2021. The increase in 2022 net income was primarily driven by increased\nlithium prices reflecting tight market conditions and greater volumes sold under index-referenced and variable-based contracts.\n• Cash flows from operations in 2022 were $1.9 billion compared to $344.3 million in 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_revenue",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "7320104k",
      "golden_context": "Page 57:\n\nn committed to evaluating the merits of any opportunities that may arise for acquisitions or other business development activities that will\ncomplement our business footprint. Additional information regarding our products, markets and financial performance is provided at our website,\nwww.albemarle.com. Our website is not a part of this document nor is it incorporated herein by reference.\nResults of Operations\nThe following data and discussion provides an analysis of certain significant factors affecting our results of operations during the periods included in the\naccompanying consolidated statements of income.\nDiscussion of our results of operations for the year ended December 31, 2021 compared to the year ended December 31, 2020 can be found in Part II, Item 7 of\nour Annual Report on Form 10-K for the year ended December 31, 2021.\nComparison of 2022 to 2021\nSelected Financial Data\nNet Sales\nNet sales In thousands 2022 2021 $ Change % Change\n$ 7,320,104 $ 3,327,957 $ 3,992,147 120 %\n• $3.5 billion of favorable pricing from each of our businesses, primarily in Lithium\n• $698.6 million of higher sales volume from each of our businesses, primarily in Lithium\n• $75.1 million decrease in net sales following the sale of the FCS business on June 1, 2021\n• $177.8 million of unfavorable currency translation resulting from the stronger U.S. Dollar against various currencies\nGross Profit\nIn thousands 2022 2021 $ Change % Change\nGross profit $ 3,074,587 $ 997,971 $ 2,076,616 208 %\nGross profit margin 42.0 % 30.0 %\n• Favorable pricing impacts and higher sales volume in all businesses, primarily in Lithium\n• Increased commission expenses in Chile resulting from the higher pricing in Lithium\n• Increased utility costs, primarily natural gas in Europe, and freight costs in each of our businesses\n• Unfavorable currency exchange impacts resulting from the stronger U.S. Dollar against various currencies\nSelling, General and Administrative (“SG&A”) Expenses\nIn thousands 2022 2021 $ Change % Change\nSelling, general and administrative expenses $ 524,145 $ 441,482 $ 82,663 19 %\nPercentage of Net sales 7.2 % 13.3 %\n• Higher compensation, including incentive-based, expenses across all businesses and Corporate\n• Increase in professional fees for various growth and improvement projects\n• Partially offset by productivity improvements and a reduction in administrative costs\n• 2021 included a $20.0 million charitable contribution, using a portion of the proceeds received from the FCS divestiture, to the Albemarle Foundation, in\naddition to the normal annual contributions\n• 2021 also included $11.5 million of legal fees related to a legacy Rockwood legal matter and $9.8 million of expenses in 2021 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_revenue_growth",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "7320104k, 3327957k prior year",
      "golden_context": "Page 57:\n\nn committed to evaluating the merits of any opportunities that may arise for acquisitions or other business development activities that will\ncomplement our business footprint. Additional information regarding our products, markets and financial performance is provided at our website,\nwww.albemarle.com. Our website is not a part of this document nor is it incorporated herein by reference.\nResults of Operations\nThe following data and discussion provides an analysis of certain significant factors affecting our results of operations during the periods included in the\naccompanying consolidated statements of income.\nDiscussion of our results of operations for the year ended December 31, 2021 compared to the year ended December 31, 2020 can be found in Part II, Item 7 of\nour Annual Report on Form 10-K for the year ended December 31, 2021.\nComparison of 2022 to 2021\nSelected Financial Data\nNet Sales\nNet sales In thousands 2022 2021 $ Change % Change\n$ 7,320,104 $ 3,327,957 $ 3,992,147 120 %\n• $3.5 billion of favorable pricing from each of our businesses, primarily in Lithium\n• $698.6 million of higher sales volume from each of our businesses, primarily in Lithium\n• $75.1 million decrease in net sales following the sale of the FCS business on June 1, 2021\n• $177.8 million of unfavorable currency translation resulting from the stronger U.S. Dollar against various currencies\nGross Profit\nIn thousands 2022 2021 $ Change % Change\nGross profit $ 3,074,587 $ 997,971 $ 2,076,616 208 %\nGross profit margin 42.0 % 30.0 %\n• Favorable pricing impacts and higher sales volume in all businesses, primarily in Lithium\n• Increased commission expenses in Chile resulting from the higher pricing in Lithium\n• Increased utility costs, primarily natural gas in Europe, and freight costs in each of our businesses\n• Unfavorable currency exchange impacts resulting from the stronger U.S. Dollar against various currencies\nSelling, General and Administrative (“SG&A”) Expenses\nIn thousands 2022 2021 $ Change % Change\nSelling, general and administrative expenses $ 524,145 $ 441,482 $ 82,663 19 %\nPercentage of Net sales 7.2 % 13.3 %\n• Higher compensation, including incentive-based, expenses across all businesses and Corporate\n• Increase in professional fees for various growth and improvement projects\n• Partially offset by productivity improvements and a reduction in administrative costs\n• 2021 included a $20.0 million charitable contribution, using a portion of the proceeds received from the FCS divestiture, to the Albemarle Foundation, in\naddition to the normal annual contributions\n• 2021 also included $11.5 million of legal fees related to a legacy Rockwood legal matter and $9.8 million of expenses in 2021 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000158_segments",
      "report_id": "ID_000158",
      "company_name": "Albemarle Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Lithium, Bromine, Catalysts",
      "golden_context": "Page 4:\n\nBusiness Segments\nDuring 2022, we managed and reported our operations under three reportable segments: Lithium, Bromine and Catalysts. Each segment has a dedicated team\nof sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel and has full accountability for improving\nexecution through greater asset efficiency, market focus, agility and responsiveness. Financial results and discussion about our segments included in this report are\norganized according to these categories except where noted.\nFor financial information regarding our reportable segments and geographic area information, see Note 25,\nour consolidated financial statements included in Part II, Item 8 of this report.\n“Segment and Geographic Area Information,\n” to\nIn August 2022, we announced plans to realign our Lithium and Bromine global business units into a new corporate structure designed to better meet customer\nneeds and foster talent required to deliver in a competitive global environment. In addition, we announced our decision to retain our Catalysts business under a\nseparate, wholly-owned subsidiary. The realignment was completed in the first quarter of 2023, and resulted in the following three reportable segments: (1) Energy\nStorage; (2) Specialties; and (3) Ketjen (Catalysts). We will begin to report our segments in the new structure in our Quarterly Report on Form 10-Q for the quarter\nended March 31, 2023, the period in which the new organizational structure became effective.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_cash_flow",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -3536m, investing 1813m, financing 1763m",
      "golden_context": "Page 49:\n\nShare repurchase program - In May 2015, we established a program for the repurchase of up to $500 million of our issued and outstanding common\nshares. The program has no expiration date. Bunge repurchased 2,546,000 common shares under this program during the year ended December 31,\n2020, for $100 million. Total repurchases under the program from its inception in May 2015 through December 31, 2020 were 7,253,440 shares for\n$400 million.\nCash Flows\nYear ended December 31,\nUS$ in millions 2020 2019 2018\nCash provided by (used for) operating activities $ (3,536) $ (808) $ (1,264)\nCash provided by (used for) investing activities 1,813 1,503 410\nCash provided by (used for) financing activities 1,763 (771) 631\nEffect of exchange rate changes on cash and cash equivalents and restricted\ncash 19 5 11\nNet increase (decrease) in cash and cash equivalents and restricted cash $ 59 $ (71) $ (212)\nOur cash flows from operations vary depending on, among other items, the market prices and timing of the purchase and sale of our inventories.\nGenerally, during periods when commodity prices are rising, our Agribusiness operations require increased use of cash to support working capital to\nacquire inventories and fund daily settlement requirements on exchange traded futures that we use to minimize price risk related to the purchase and sale\nof our inventories.\n2020 Compared to 2019\nFor the year ended December 31, 2020, our cash and cash equivalents, and restricted cash increased $59 million, compared to a decrease of $71\nmillion for the year ended December 31, 2019.\nOperating: Cash used for operating activities was $3,536 million for the year ended December 31, 2020, an increase of $2,728 million compared to\ncash used for operating activities of $808 million for the year ended December 31, 2019. The increase was due to higher working capital funding\nrequirements, primarily RMI and proceeds from beneficial interests in securitized trade receivables, both primarily driven by higher commodity prices,\npartially offset by higher net income during the year ended December 31, 2020.\nYear ended December 31,\nUS$ in millions 2020 2019\nCash provided by (used for) operating activities $ (3,536) $ (808)\nProceeds from beneficial interest in securitized trade receivables 1,943 1,312\nCash provided by (used for) operating activities, adjusted $ (1,593) $ 504\nCash used for operating activities, adjusted for proceeds from beneficial interest in securitized trade receivables was $1,593 million for the year\nended December 31, 2020, compared to cash provided by operating activities of $504 million for the year ended December 31, 2019. The change in cash\nprovided by (used for) operating activities is due to higher working capital funding requirements, primarily RMI, partially offset by higher net income during\nthe year ended December 31, 2020.\nCertain of our non-U.S. operating subsidiaries are primarily funded with U.S. dollar-denominated debt, while currency risk is hedged with U.S. dollar-\ndenominated assets. The functional currency of our operating subsidiaries is generally the local currency. The financial statements of our subsidiaries are\ncalculated in the functional currency, and when the local currency is the functional currency, translated into U.S. dollar. U.S. dollar-denominated loans are\nremeasured into their respective functional currencies at exchange rates at the applicable balance sheet date. Also, certain of our U.S. dollar functional\noperating subsidiaries outside the U.S. are partially funded with local currency borrowings, while the currency risk is hedged with local currency\ndenominated assets. Local currency loans in U.S. dollar functional currency subsidiaries outside the U.S. are remeasured into U.S. dollars at the\nexchange rate on the applicable balance sheet date. The resulting gain or loss is included in our consolidated statements of income as foreign exchange\ngains or losses. For the year ended December 31, 2020 we recorded a foreign currency gain on net debt of $206 million versus a foreign currency loss on\nnet debt for the year ended December 31, 2019 of $139 million, which were included as adjustments to reconcile Net income to Cash used for operating\nactivities in the line item “Foreign excha",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_company_type",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nAND EXCHANGE COMMISSION\nWashington, DC 20549\n____________________________________________________________________________\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2020\nOr\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\n☐\nOF 1934\nFor the transition period from to\nCommission File Number 001-16625\nBUNGE LIMITED\n(Exact name of registrant as specified in its charter)\nBermuda 98-0231912\n(State or other jurisdiction of incorporation or\n(I.R.S. Employer Identification No.)\norganization)\n1391 Timberlake Manor Parkway\nSt. Louis\n(Address of principal executive offices) Missouri 63017\n(Zip Code)\n(314) 292-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Shares, $0.01 par value per share Trading Symbol(s) BG Name of each exchange on which registered\nNew",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_key_financials",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 41404m, net income available to Bunge common shareholders 1121m",
      "golden_context": "Page 29:\n\nYear Ended December 31,\n(US$ in millions) 2020 2019 2018 2017 2016\nConsolidated Statements of Income Data:\nNet sales $ 41,404 $ 41,140 $ 45,743 $ 45,794 $ 42,679\nCost of goods sold (38,619) (40,598) (43,477) (44,029) (40,269)\nGross profit 2,785 542 2,266 1,765 2,410\nSelling, general and administrative expenses (1,358) (1,351) (1,423) (1,437) (1,284)\nInterest income 22 31 31 38 51\nInterest expense (265) (339) (339) (263) (234)\nForeign exchange gains (losses) 150 (117) (101) 95 (8)\nOther income (expense)—net 126 97 (9) 47 133\nIncome (loss) from affiliates (47) 40 31 2 (1)\nInvestments in affiliate impairments— — — (17) (59)\nGoodwill and intangible impairments— (108) — — (12)\nIncome (loss) from continuing operations before income tax 1,413 (1,205) 456 230 996\nIncome tax (expense) benefit (248) (86) (179) (56) (220)\nIncome (loss) from continuing operations 1,165 (1,291) 277 174 776\nIncome (loss) from discontinued operations, net of tax— — 10 — (9)\nNet income (loss) 1,165 (1,291) 287 174 767\nNet loss (income) attributable to noncontrolling interests and\nredeemable noncontrolling interests (20) 11 (20) (14) (22)\nNet income (loss) attributable to Bunge 1,145 (1,280) 267 160 745\nConvertible preference share dividends and other obligations (34) (34) (34) (34) (36)\nAdjustment of redeemable noncontrolling interest 10 (8) — — —\nNet income (loss) available to Bunge common shareholders $ 1,121 $ (1,322) $ 233 $ 126 $ 709\nYear ended December 31,\n(US$, except outstanding share data) 2020 2019 2018 2017 2016\nPer Share Data:\nEarnings (loss) per common share—basic\nNet income (loss) from continuing operations $ 7.97 $ (9.34) $ 1.58 $ 0.90 $ 5.13\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.97 $ (9.34) $ 1.65 $ 0.90 $ 5.07\nEarnings (loss) per common share—diluted\nNet income (loss) from continuing operations $ 7.71 $ (9.34) $ 1.57 $ 0.89 $ 5.07\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.71 $ (9.34) $ 1.64 $ 0.89 $ 5.01\nCash dividends declared per common share $ 2.00 $ 2.00 $ 1.96 $ 1.80 $ 1.64\nWeighted-average common shares outstanding—basic 140,693,658 141,492,289 140,968,980 140,365,549 139,845,124\nWeighted-average common shares outstanding—\ndiluted 149,689,816 141,492,289 141,703,783 141,265,077 148,226,475",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_revenue",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "net sales 41404m",
      "golden_context": "Page 29:\n\nYear Ended December 31,\n(US$ in millions) 2020 2019 2018 2017 2016\nConsolidated Statements of Income Data:\nNet sales $ 41,404 $ 41,140 $ 45,743 $ 45,794 $ 42,679\nCost of goods sold (38,619) (40,598) (43,477) (44,029) (40,269)\nGross profit 2,785 542 2,266 1,765 2,410\nSelling, general and administrative expenses (1,358) (1,351) (1,423) (1,437) (1,284)\nInterest income 22 31 31 38 51\nInterest expense (265) (339) (339) (263) (234)\nForeign exchange gains (losses) 150 (117) (101) 95 (8)\nOther income (expense)—net 126 97 (9) 47 133\nIncome (loss) from affiliates (47) 40 31 2 (1)\nInvestments in affiliate impairments— — — (17) (59)\nGoodwill and intangible impairments— (108) — — (12)\nIncome (loss) from continuing operations before income tax 1,413 (1,205) 456 230 996\nIncome tax (expense) benefit (248) (86) (179) (56) (220)\nIncome (loss) from continuing operations 1,165 (1,291) 277 174 776\nIncome (loss) from discontinued operations, net of tax— — 10 — (9)\nNet income (loss) 1,165 (1,291) 287 174 767\nNet loss (income) attributable to noncontrolling interests and\nredeemable noncontrolling interests (20) 11 (20) (14) (22)\nNet income (loss) attributable to Bunge 1,145 (1,280) 267 160 745\nConvertible preference share dividends and other obligations (34) (34) (34) (34) (36)\nAdjustment of redeemable noncontrolling interest 10 (8) — — —\nNet income (loss) available to Bunge common shareholders $ 1,121 $ (1,322) $ 233 $ 126 $ 709\nYear ended December 31,\n(US$, except outstanding share data) 2020 2019 2018 2017 2016\nPer Share Data:\nEarnings (loss) per common share—basic\nNet income (loss) from continuing operations $ 7.97 $ (9.34) $ 1.58 $ 0.90 $ 5.13\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.97 $ (9.34) $ 1.65 $ 0.90 $ 5.07\nEarnings (loss) per common share—diluted\nNet income (loss) from continuing operations $ 7.71 $ (9.34) $ 1.57 $ 0.89 $ 5.07\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.71 $ (9.34) $ 1.64 $ 0.89 $ 5.01\nCash dividends declared per common share $ 2.00 $ 2.00 $ 1.96 $ 1.80 $ 1.64\nWeighted-average common shares outstanding—basic 140,693,658 141,492,289 140,968,980 140,365,549 139,845,124\nWeighted-average common shares outstanding—\ndiluted 149,689,816 141,492,289 141,703,783 141,265,077 148,226,475",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_revenue_growth",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 41404m, prior year 41140m",
      "golden_context": "Page 29:\n\nYear Ended December 31,\n(US$ in millions) 2020 2019 2018 2017 2016\nConsolidated Statements of Income Data:\nNet sales $ 41,404 $ 41,140 $ 45,743 $ 45,794 $ 42,679\nCost of goods sold (38,619) (40,598) (43,477) (44,029) (40,269)\nGross profit 2,785 542 2,266 1,765 2,410\nSelling, general and administrative expenses (1,358) (1,351) (1,423) (1,437) (1,284)\nInterest income 22 31 31 38 51\nInterest expense (265) (339) (339) (263) (234)\nForeign exchange gains (losses) 150 (117) (101) 95 (8)\nOther income (expense)—net 126 97 (9) 47 133\nIncome (loss) from affiliates (47) 40 31 2 (1)\nInvestments in affiliate impairments— — — (17) (59)\nGoodwill and intangible impairments— (108) — — (12)\nIncome (loss) from continuing operations before income tax 1,413 (1,205) 456 230 996\nIncome tax (expense) benefit (248) (86) (179) (56) (220)\nIncome (loss) from continuing operations 1,165 (1,291) 277 174 776\nIncome (loss) from discontinued operations, net of tax— — 10 — (9)\nNet income (loss) 1,165 (1,291) 287 174 767\nNet loss (income) attributable to noncontrolling interests and\nredeemable noncontrolling interests (20) 11 (20) (14) (22)\nNet income (loss) attributable to Bunge 1,145 (1,280) 267 160 745\nConvertible preference share dividends and other obligations (34) (34) (34) (34) (36)\nAdjustment of redeemable noncontrolling interest 10 (8) — — —\nNet income (loss) available to Bunge common shareholders $ 1,121 $ (1,322) $ 233 $ 126 $ 709\nYear ended December 31,\n(US$, except outstanding share data) 2020 2019 2018 2017 2016\nPer Share Data:\nEarnings (loss) per common share—basic\nNet income (loss) from continuing operations $ 7.97 $ (9.34) $ 1.58 $ 0.90 $ 5.13\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.97 $ (9.34) $ 1.65 $ 0.90 $ 5.07\nEarnings (loss) per common share—diluted\nNet income (loss) from continuing operations $ 7.71 $ (9.34) $ 1.57 $ 0.89 $ 5.07\nNet income (loss) from discontinued operations— — 0.07 — (0.06)\nNet income (loss) attributable to Bunge common\nshareholders $ 7.71 $ (9.34) $ 1.64 $ 0.89 $ 5.01\nCash dividends declared per common share $ 2.00 $ 2.00 $ 1.96 $ 1.80 $ 1.64\nWeighted-average common shares outstanding—basic 140,693,658 141,492,289 140,968,980 140,365,549 139,845,124\nWeighted-average common shares outstanding—\ndiluted 149,689,816 141,492,289 141,703,783 141,265,077 148,226,475",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000160_segments",
      "report_id": "ID_000160",
      "company_name": "Bunge",
      "year": 2020,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer",
      "golden_context": "Page 7:\n\nAs of January 1, 2020, we conduct our operations in five reportable segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and\nBioenergy, and Fertilizer. We further organize these reportable segments into Core operations and Non-core operations. Core operations comprise our\nAgribusiness, Edible Oil Products, Milling Products, and Fertilizer segments, and Non-core operations comprise our Sugar and Bioenergy segment, which\nitself primarily comprises our interest in the recently-formed BP Bunge Bioenergia joint venture.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_cash_flow",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -2894m, investing: 5113m, financing: -1632m",
      "golden_context": "Page 47:\n\nn shares. The program has no expiration date. Bunge repurchased 1,298,384 common shares under this program during the year ended\nDecember 31, 2021, for $100 million, and 2,546,000 common shares under this program during the year ended December 31, 2020, for $100 million.\nTotal repurchases under the program from its inception in May 2015 through December 31, 2021 were 8,551,824 shares for $500 million.\nDuring October 2021, our Board of Directors approved a new program for the repurchase of up to $500 million of our issued and outstanding\ncommon shares. The program has no expiration date, and there have been no repurchases under this program as of December 31, 2021.\nCash Flows\nYear ended December 31,\nUS$ in millions 2021 2020 2019\nCash used for operating activities $ (2,894) $ (3,536) $ (808)\nCash provided by investing activities 5,113 1,813 1,503\nCash (used for) provided by financing activities (1,632) 1,763 (771)\nEffect of exchange rate changes on cash and cash equivalents and restricted\ncash (63) 19 5\nNet increase (decrease) in cash and cash equivalents and restricted cash $ 524 $ 59 $ (71)\nOur cash flows from operations vary depending on, among other items, the market prices and timing of the purchase and sale of our inventories.\nGenerally, during periods when commodity prices are rising, our Agribusiness operations require increased use of cash to support working capital to\nacquire inventories and fund daily settlement requirements on exchange traded futures that we use to minimize price risk related to the purchase and sale\nof our inventories.\n2021 Compared to 2020\nFor the year ended December 31, 2021, our cash and cash equivalents and restricted cash increased $524 million, compared to a decrease of $59\nmillion for the year ended December 31, 2020.\nOperating: Cash used for operating activities was $2,894 million for the year ended December 31, 2021, a decrease of $642 million compared to\ncash used for operating activities of $3,536 million for the year ended December 31, 2020. The decrease in cash used was primarily due to higher Net\nincome and lower cash required to fund working capital, partially offset by increased Beneficial interest in securitized trade receivables driven by\nincreased sales during the year ended December 31, 2021.\nYear ended December 31,\nUS$ in millions 2021 2020\nCash used for operating activities",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_company_type",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\n____________________________________________________________________________\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOr\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\n☐\nOF 1934\nFor the transition period from to\nCommission File Number 001-16625\nBUNGE LIMITED\n(Exact name of registrant as specified in its charter)\nBermuda 98-0231912\n(State or other jurisdiction of incorporation or\n(I.R.S. Employer Identification No.)\norganization)\n1391 Timberlake Manor Parkway\nChesterfield\n(Address of principal executive offices) Missouri 63017\n(Zip Code)\n(314) 292-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Shares, $0.01 par value per share Trading Symbol(s) BG Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Act. Yes o No ý\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ý No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ý No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company\nor an emerging growth company. See the definitions of \"large accelerated filer,\n\" \"accelerated filer,\n\" \"smaller reporting company\" and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act:\nLarge accelerated filer ý Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting\n☐ Emerging growth\ncompany\n☐\ncompany\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_key_financials",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales     59'152m, \ngross profit   3'363m,\n net income    2'167m\n \n \n EPS $14.5 basic, $13.64 diluted",
      "golden_context": "Page 71:\n\nPART I—FINANCIAL INFORMATION\nITEM 1. FINANCIAL STATEMENTS\nBUNGE LIMITED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\n(U.S. dollars in millions, except per share data)\nYear Ended December 31,\n2021 2020 2019\nNet sales $ 59,152 $ 41,404 $ 41,140\nCost of goods sold (55,789) (38,619) (40,598)\nGross profit 3,363 2,785 542\nSelling, general and administrative expenses (1,234) (1,358) (1,351)\nInterest income 48 22 31\nInterest expense (243) (265) (339)\nForeign exchange (losses) gains — net (38) 150 (117)\nOther income — net 509 126 97\nIncome (loss) from affiliates 160 (47) 40\nGoodwill impairment— — (108)\nIncome (loss) from continuing operations before income tax 2,565 1,413 (1,205)\nIncome tax expense (398) (248) (86)\nNet income (loss) 2,167 1,165 (1,291)\nNet (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests (89) (20) 11\nNet income (loss) attributable to Bunge 2,078 1,145 (1,280)\nConvertible preference share dividends and other obligations (34) (34) (34)\nAdjustment of redeemable noncontrolling interest— 10 Net income (loss) available to Bunge common shareholders $ 2,044 $ 1,121 $ (1,322)\nEarnings (loss) per common share—basic\nNet income (loss) attributable to Bunge common shareholders $ 14.50 $ 7.97 $ (9.34)\nEarnings (loss) per common share—diluted\nNet income (loss) attributable to Bunge common shareholders $ 13.64 $ 7.71 $ (9.34)\n(8)\nThe accompanying notes are an integral part of these consolidated financial statements.\nF-4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_revenue",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "net sales 59152m",
      "golden_context": "Page 71:\n\nPART I—FINANCIAL INFORMATION\nITEM 1. FINANCIAL STATEMENTS\nBUNGE LIMITED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\n(U.S. dollars in millions, except per share data)\nYear Ended December 31,\n2021 2020 2019\nNet sales $ 59,152 $ 41,404 $ 41,140\nCost of goods sold (55,789) (38,619) (40,598)\nGross profit 3,363 2,785 542\nSelling, general and administrative expenses (1,234) (1,358) (1,351)\nInterest income 48 22 31\nInterest expense (243) (265) (339)\nForeign exchange (losses) gains — net (38) 150 (117)\nOther income — net 509 126 97\nIncome (loss) from affiliates 160 (47) 40\nGoodwill impairment— — (108)\nIncome (loss) from continuing operations before income tax 2,565 1,413 (1,205)\nIncome tax expense (398) (248) (86)\nNet income (loss) 2,167 1,165 (1,291)\nNet (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests (89) (20) 11\nNet income (loss) attributable to Bunge 2,078 1,145 (1,280)\nConvertible preference share dividends and other obligations (34) (34) (34)\nAdjustment of redeemable noncontrolling interest— 10 Net income (loss) available to Bunge common shareholders $ 2,044 $ 1,121 $ (1,322)\nEarnings (loss) per common share—basic\nNet income (loss) attributable to Bunge common shareholders $ 14.50 $ 7.97 $ (9.34)\nEarnings (loss) per common share—diluted\nNet income (loss) attributable to Bunge common shareholders $ 13.64 $ 7.71 $ (9.34)\n(8)\nThe accompanying notes are an integral part of these consolidated financial statements.\nF-4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_revenue_growth",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 59152m, prior year 41404m",
      "golden_context": "Page 71:\n\nPART I—FINANCIAL INFORMATION\nITEM 1. FINANCIAL STATEMENTS\nBUNGE LIMITED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\n(U.S. dollars in millions, except per share data)\nYear Ended December 31,\n2021 2020 2019\nNet sales $ 59,152 $ 41,404 $ 41,140\nCost of goods sold (55,789) (38,619) (40,598)\nGross profit 3,363 2,785 542\nSelling, general and administrative expenses (1,234) (1,358) (1,351)\nInterest income 48 22 31\nInterest expense (243) (265) (339)\nForeign exchange (losses) gains — net (38) 150 (117)\nOther income — net 509 126 97\nIncome (loss) from affiliates 160 (47) 40\nGoodwill impairment— — (108)\nIncome (loss) from continuing operations before income tax 2,565 1,413 (1,205)\nIncome tax expense (398) (248) (86)\nNet income (loss) 2,167 1,165 (1,291)\nNet (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests (89) (20) 11\nNet income (loss) attributable to Bunge 2,078 1,145 (1,280)\nConvertible preference share dividends and other obligations (34) (34) (34)\nAdjustment of redeemable noncontrolling interest— 10 Net income (loss) available to Bunge common shareholders $ 2,044 $ 1,121 $ (1,322)\nEarnings (loss) per common share—basic\nNet income (loss) attributable to Bunge common shareholders $ 14.50 $ 7.97 $ (9.34)\nEarnings (loss) per common share—diluted\nNet income (loss) attributable to Bunge common shareholders $ 13.64 $ 7.71 $ (9.34)\n(8)\nThe accompanying notes are an integral part of these consolidated financial statements.\nF-4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000161_segments",
      "report_id": "ID_000161",
      "company_name": "Bunge",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy",
      "golden_context": "Page 7:\n\nat flours, bakery mixes and dry milled corn products in North and South America, based on volume.\nWe also produce sugar and ethanol in Brazil, through our 50% interest in BP Bunge Bioenergia, a joint venture formed with BP p.l.c (\"BP\") in\nDecember 2019 by the combination of our Brazilian sugar and bioenergy operations with the Brazilian biofuels business of BP.\nSince January 1, 2021 we have conducted our operations via four reportable segments: Agribusiness, Refined and Specialty Oils, Milling, and\nSugar and Bioenergy, organized based upon their similar economic characteristics, products and services offered, production processes, types and\nclasses of customer, and distribution methods. The Company’s remaining operations are not reportable segments and are classified as Corporate and\nOther.\nWe further organize these reportable segments into Core operations and Non-core operations. Core operations comprise our Agribusiness,\nRefined and Specialty Oils, and Milling segments.\nOur Agribusiness segment is an integrated, global business principally involved in the purchase, storage, transportation, processing and sale of\nagricultural commodities and commodity products. Our Agribusiness operations and assets are located in North and South America, Europe and Asia-\nPacific, and we have merchandising and distribution offices throughout the world.\nThe Refined and Specialty Oils segment includes businesses that sell vegetable oils and fats, including cooking oils, shortenings, and specialty\ningredients. The operations and assets of our Refined and Specialty Oils segment are primarily located in North and South America, Europe and Asia-\nPacific.\nThe Milling segment includes businesses that sell wheat flours, bakery mixes and corn-based products. The operations and assets of our Milling\nsegment are located in North and South America. During 2021, we announced the sale of our wheat milling business in Mexico, which is expected to\nclose during the second quarter of 2022.\nNon-core operations comprise our Sugar and Bi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_cash_flow",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "operating: -5549, investing: 6499, financing: -769",
      "golden_context": "Page 52:\n\nDecember 31, 2021, Bunge repurchased 1,298,384 common shares for $100 million, thereby completing a previous $500\nmillion share repurchase program, established May 2015.\nCash Flows\nYear ended December 31,\nUS$ in millions 2022 2021 2020\nCash used for operating activities $ (5,549) $ (2,894) $ (3,536)\nCash provided by investing activities 6,499 5,113 1,813\nCash (used for) provided by financing activities (769) (1,632) 1,763\nEffect of exchange rate changes on cash and cash equivalents, restricted cash,\nand cash held for sale 66 (63) 19\nNet increase in cash and cash equivalents, restricted cash, and cash held\nfor sale $ 247 $ 524 $ 59\nOur cash flows from operations vary depending on, among other items, the market prices and timing of the purchase and sale of our inventories.\nGenerally, during periods when commodity prices are rising, our Agribusiness operations require increased use of cash to support working capital to\nacquire inventories and fund daily settlement requirements on exchange traded futures that we use to minimize price risk related to the purchase and sale\nof our inventories.\n2022 Compared to 2021\nFor the year ended December 31, 2022, our cash and cash equivalents, restricted cash, and cash held for sale increased $247 million, compared to\nan increase of $524 million for the year ended December 31, 2021.\nOperating: Cash used for operating activities was $5,549 million for the year ended December 31, 2022, an increase of $2,655 million compared to\ncash used for operating activities of $2,894 million for the year ended December 31, 2021. The increase in cash used was primarily due to lower Net\nincome, increased cash required to fund working capital due to higher average commodity prices during the year ended December 31, 2022, and\nincreased Beneficial interest in securitized trade receivables driven by an increase in the size of the program in March 2022 as well as higher average\ncommodity prices during the current year.\nYear ended December 31,\nUS$ in millions 2022 2021\nCash used for operating activities $ (5,549) $ (2,894)\nNet proceeds from beneficial interest in securitized trade receivables 6,824 5,057\nCash provided by operating activitie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_company_type",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\n____________________________________________________________________________\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOr\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\n☐\nOF 1934\nFor the transition period from to\nCommission File Number 001-16625\nBUNGE LIMITED\n(Exact name of registrant as specified in its charter)\nBermuda 98-0231912\n(State or other jurisdiction of incorporation or\n(I.R.S. Employer Identification No.)\norganization)\n1391 Timberlake Manor Parkway\nChesterfield\n(Address of principal executive offices) Missouri 63017\n(Zip Code)\n(314) 292-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Shares, $0.01 par value per share Trading Symbol(s) BG Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Act. Yes o No ý\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ý No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_key_financials",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "net income attributable to Bunge: 1610m, EPS common diluted: 10.51, EBIT: 2331m",
      "golden_context": "Page 37:\n\n2022 Overview\nNet Income Attributable to Bunge - For the year ended December 31, 2022, Net income attributable to Bunge was $1,610 million, a decrease of\n$468 million compared to a Net income attributable to Bunge of $2,078 million for the year ended December 31, 2021. The decrease was primarily due to\nlower Segment EBIT in our Core segments and Corporate and Other activities, as further discussed in the Segment Overview and Results of Operations\nsection below, and increased interest expense.\nEarnings Per Common Share - Diluted - For the year ended December 31, 2022, Net income attributable to Bunge common shareholders,\ndiluted, was $10.51 per share, a decrease of $3.13 per share, compared to $13.64 per share for the year ended December 31, 2021.\nEBIT - For the year ended December 31, 2022, Total Segment EBIT was $2,331 million, a decrease of $330 million compared to EBIT of $2,661\nmillion for the year ended December 31, 2021. The decrease in Total Segment EBIT for the year ended December 31, 2022 was due to lower Segment\nEBIT in our Core and Non-core segments and Corporate other Other activities, as further discussed in the Segment Overview and Results of Operations\nsection below, and which also provides a reconciliation of Net income attributable to Bunge to Total Segment EBIT.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_revenue",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 67232m",
      "golden_context": "Page 77:\n\nPART I—FINANCIAL INFORMATION\nITEM 1. FINANCIAL STATEMENTS\nBUNGE LIMITED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(U.S. dollars in millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\nNet sales $ 67,232 $ 59,152 $ 41,404\nCost of goods sold (63,550) (55,789) (38,619)\nGross profit 3,682 3,363 2,785\nSelling, general and administrative expenses (1,369) (1,234) (1,358)\nInterest income 71 48 22\nInterest expense (403) (243) (265)\nForeign exchange (losses) gains — net (11) (38) 150\nOther (expense) income — net (9) 509 126\nIncome (loss) from affiliates 105 160 (47)\nIncome from continuing operations before income tax 2,066 2,565 1,413\nIncome tax expense (388) (398) (248)\nNet income 1,678 2,167 1,165\nNet (income) attributable to noncontrolling interests and redeemable noncontrolling interests (68) (89) (20)\nNet income attributable to Bunge 1,610 2,078 1,145\nConvertible preference share dividends and other obligations— (34) (34)\nAdjustment of redeemable noncontrolling interest— — 10\nNet income available to Bunge common shareholders $ 1,610 $ 2,044 $ 1,121\nEarnings per common share—basic\nNet income attributable to Bunge common shareholders $ 10.83 $ 14.50 $ 7.97\nEarnings per common share—diluted\nNet income attributable to Bunge common shareholders $ 10.51 $ 13.64 $ 7.71\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_revenue_growth",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 67232m, prior year 59152m",
      "golden_context": "Page 77:\n\nPART I—FINANCIAL INFORMATION\nITEM 1. FINANCIAL STATEMENTS\nBUNGE LIMITED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(U.S. dollars in millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\nNet sales $ 67,232 $ 59,152 $ 41,404\nCost of goods sold (63,550) (55,789) (38,619)\nGross profit 3,682 3,363 2,785\nSelling, general and administrative expenses (1,369) (1,234) (1,358)\nInterest income 71 48 22\nInterest expense (403) (243) (265)\nForeign exchange (losses) gains — net (11) (38) 150\nOther (expense) income — net (9) 509 126\nIncome (loss) from affiliates 105 160 (47)\nIncome from continuing operations before income tax 2,066 2,565 1,413\nIncome tax expense (388) (398) (248)\nNet income 1,678 2,167 1,165\nNet (income) attributable to noncontrolling interests and redeemable noncontrolling interests (68) (89) (20)\nNet income attributable to Bunge 1,610 2,078 1,145\nConvertible preference share dividends and other obligations— (34) (34)\nAdjustment of redeemable noncontrolling interest— — 10\nNet income available to Bunge common shareholders $ 1,610 $ 2,044 $ 1,121\nEarnings per common share—basic\nNet income attributable to Bunge common shareholders $ 10.83 $ 14.50 $ 7.97\nEarnings per common share—diluted\nNet income attributable to Bunge common shareholders $ 10.51 $ 13.64 $ 7.71\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000162_segments",
      "report_id": "ID_000162",
      "company_name": "Bunge",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy",
      "golden_context": "Page 6:\n\nusiness Overview\nleading:\nWe are a leading global agribusiness and food company with integrated operations that stretch from farmer to consumer. We believe we are a\n• global oilseed processor and producer of vegetable oils and protein meals, based on processing capacity;\n• global grain processor, based on volume;\n• seller of packaged plant-based oils worldwide, based on sales;\n• producer and seller of wheat flours, bakery mixes, and corn-based products in North and South America, based on volume.\nWe also produce sugar and ethanol in Brazil, through our 50% interest in BP Bunge Bioenergia, a joint venture with BP p.l.c (\"BP\").\nSince January 1, 2021 we have conducted our operations via four reportable segments: Agribusiness, Refined and Specialty Oils, Milling, and\nSugar and Bioenergy, organized based upon their similar economic characteristics, products and services offered, production processes, types and\nclasses of customer, and distribution methods. The Company’s remaining operations are not reportable segments and are classified as Corporate and\nOther.\nWe further organize these reportable segments into Core operations and Non-core operations. Core operations comprise our Agribusiness, Refined\nand Specialty Oils, and Milling segments.\nOur Agribusiness segment is an integrated, global business principally involved in the purchase, storage, transportation, processing and sale of\nagricultural commodities and commodity products. Our Agribusiness operations and assets are located in North and South America, Europe, and Asia-\nPacific, and we have merchandising and distribution offices throughout the world.\nThe Refined and Specialty Oils segment includes businesses that sell vegetable oils and fats, including cooking oils, shortenings, specialty\ningredients, and renewable diesel feedstocks. The operations and assets of our Refined and Specialty Oils segment are primarily located in North and\nSouth America, Europe and Asia-Pacific.\nThe Milling segment includes businesses that sell wheat flours, bakery mixes, and corn-based products. The operations and assets of our Milling\nsegment are located in North and South America. During 2021, we announced the sale of our wheat milling business in Mexico, which closed during the\nthird quarter of 2022.\nNon-c",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_cash_flow",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -2468009k, investing: -1004044k, financing: 1678218k, total cash flow: 1506647k",
      "golden_context": "Page 105:\n\nNorwegian Cruise Line Holdings Ltd.\nConsolidated Statements of Cash Flows\n(in thousands)\nYear Ended December 31,\n2021 2020 2019\nCash flows from operating activities\nNet income (loss) $ (4,506,587) $ (4,012,514) $ 930,228\nAdjustments to reconcile net income (loss) to net cash provided by (used\nin) operating activities:\nDepreciation and amortization expense 758,604 739,619 647,102\nImpairment loss — 1,607,797 —\nDeferred income taxes, net 78 12,765 (26,134)\nGain on derivatives (39,842) (8,501) —\nLoss on extinguishment of debt 1,399,816 10,480 13,397\nProvision for bad debts and inventory obsolescence 19,284 31,756 3,884\nGain on involuntary conversion of assets (9,486) (1,496) (4,152)\nShare-based compensation expense 124,077 111,297 95,055\nPayment-in-kind interest premium — 19,349 —\nNet foreign currency adjustments (9,865) 8,584 (1,934)\nChanges in operating assets and liabilities:\nAccounts receivable, net (1,159,998) 30,797 (14,104)\nInventories (37,481) 10,555 (6,155)\nPrepaid expenses and other assets 24,004 (89,528) (74,295)\nAccounts payable 152,026 (21,419) (58,635)\nAccrued expenses and other liabilities 295,451 (193,938) (29,028)\nAdvance ticket sales 521,910 (811,846) 347,376\nNet cash provided by (used in) operating activities (2,468,009) (2,556,243) 1,822,605\nCash flows from investing activities\nAdditions to property and equipment, net (752,843) (946,545) (1,637,170)\nPurchases of short-term investments (1,010,000) — —\nProceeds from maturities of short-term investments 770,000 — —\nCash paid on settlement of derivatives (23,496) (31,520) (47,085)\nOther 12,295 2,703 4,063\nNet cash used in investing activities (1,004,044) (975,362) (1,680,192)\nCash flows from financing activities\nRepayments of long-term debt (2,113,063) (892,481) (3,806,732)\nProceeds from long-term debt 2,601,317 6,075,090 4,122,297\nCommon share issuance proceeds, net 2,665,843 1,541,708 —\nProceeds from employee related plans 3,141 5,557 31,937\nNet share settlement of restricted share units (16,687) (15,407) (20,939)\nPurchases of treasury shares — — (349,860)\nEarly redemption premium (1,354,882) (1,376) (6,829)\nDeferred financing fees (107,451) (133,880) (23,262)\nNet cash provided by (used in) financing activities 1,678,218 6,579,211 (53,388)\nNet increase (decrease) in cash and cash equivalents (1,793,835) 3,047,606 89,025\nCash and cash equivalents at beginning of period 3,300,482 252,876 163,851\nCash and cash equivalents at end of period $ 1,506,647 $ 3,300,482 $ 252,876\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_company_type",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 001-35784\nNORWEGIAN CRUISE LINE HOLDINGS LTD.\n(Exact name of registrant as specified in its charter)\nBermuda 98-0691007\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of each class 7665 Corporate Center Drive, Miami, Florida 33126\n(Address of principal executive offices) (zip code)\n(305) 436-4000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nOrdinary shares, par value $0.001 per share NCLH The New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-\nT (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the\nExchange Act.\nLarge accelerated filer ☒ Non-accelerated filer  Accelerated filer \nSmaller reporting company ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_key_financials",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "revenue 647'986k, \nnet income -4'506'587k, \nEPS basic: -12.33",
      "golden_context": "Page 74:\n\nfication of debt, compared to Adjusted Net Loss and Adjusted EPS of $(2.2) billion and $(8.64), respectively, for\nthe year ended December 31, 2020. A 65.0% decrease in Adjusted EBITDA was incurred for the same period. We refer\nyou to our “Results of Operations” below for a calculation of Adjusted Net Income (Loss), Adjusted EPS and Adjusted\nEBITDA.\nResults of Operations\nWe reported total revenue, total cruise operating expense, operating income and net income as follows (in thousands,\nexcept per share data):\nYear Ended December 31,\n2021 2020 2019\nTotal revenue $ 647,986 $ 1,279,908 $ 6,462,376\nTotal cruise operating expense $ 1,608,037 $ 1,693,061 $ 3,663,261\nOperating income (loss) Net income (loss) $ (2,552,348) $ (3,484,135) $ 1,178,077\n$ (4,506,587) $ (4,012,514) $ 930,228\nEPS:\nBasic $ (12.33) $ (15.75) $ 4.33\nDiluted $ (12.33) $ (15.75) $ 4.30\nThe following table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2021 2020 2019\nRevenue\nPassenger ticket Onboard and other 60.6 % 67.7 % 69.9 %\n39.4 % 32.3 % 30.1 %\nTotal revenue 100.0 % 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 22.2 % 29.7 % 17.4 %\nOnboard and other 8.3 % 6.7 % 6.1 %\nPayroll and related Fuel 82.9 % 40.7 % 14.3 %\n46.6 % 20.7 % 6.3 %\nFood 9.7 % 5.1 % 3.4 %\nOther 78.4 % 29.4 % 9.2 %\nTotal cruise operating expense 248.1 % 132.3 % 56.7 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 137.6 % 58.2 % 15.1 %\n108.2 % 56.1 % 10.0 %\nImpairment loss — % 125.6 % — %\nTotal other operating expense Operating income (loss) 245.8 % 239.9 % 25.1 %\n(393.9)% (272.2) % 18.2 %\nNon-operating income (expense)\nInterest expense, net (319.9)% (37.7) % (4.2)%\nOther income (expense), net 19.1 % (2.6) % 0.1 %\nTotal non-operating income (expense) (300.8)% (40.3) % (4.1)%\nNet income (loss) before income taxes (694.7)% (312.5) % 14.1 %\nIncome tax benefit (expense) (0.8)% (1.0) % 0.3 %\nNet income (loss) (695.5)% (313.5) % 14.4 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_revenue",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "647986k",
      "golden_context": "Page 74:\n\nfication of debt, compared to Adjusted Net Loss and Adjusted EPS of $(2.2) billion and $(8.64), respectively, for\nthe year ended December 31, 2020. A 65.0% decrease in Adjusted EBITDA was incurred for the same period. We refer\nyou to our “Results of Operations” below for a calculation of Adjusted Net Income (Loss), Adjusted EPS and Adjusted\nEBITDA.\nResults of Operations\nWe reported total revenue, total cruise operating expense, operating income and net income as follows (in thousands,\nexcept per share data):\nYear Ended December 31,\n2021 2020 2019\nTotal revenue $ 647,986 $ 1,279,908 $ 6,462,376\nTotal cruise operating expense $ 1,608,037 $ 1,693,061 $ 3,663,261\nOperating income (loss) Net income (loss) $ (2,552,348) $ (3,484,135) $ 1,178,077\n$ (4,506,587) $ (4,012,514) $ 930,228\nEPS:\nBasic $ (12.33) $ (15.75) $ 4.33\nDiluted $ (12.33) $ (15.75) $ 4.30\nThe following table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2021 2020 2019\nRevenue\nPassenger ticket Onboard and other 60.6 % 67.7 % 69.9 %\n39.4 % 32.3 % 30.1 %\nTotal revenue 100.0 % 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 22.2 % 29.7 % 17.4 %\nOnboard and other 8.3 % 6.7 % 6.1 %\nPayroll and related Fuel 82.9 % 40.7 % 14.3 %\n46.6 % 20.7 % 6.3 %\nFood 9.7 % 5.1 % 3.4 %\nOther 78.4 % 29.4 % 9.2 %\nTotal cruise operating expense 248.1 % 132.3 % 56.7 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 137.6 % 58.2 % 15.1 %\n108.2 % 56.1 % 10.0 %\nImpairment loss — % 125.6 % — %\nTotal other operating expense Operating income (loss) 245.8 % 239.9 % 25.1 %\n(393.9)% (272.2) % 18.2 %\nNon-operating income (expense)\nInterest expense, net (319.9)% (37.7) % (4.2)%\nOther income (expense), net 19.1 % (2.6) % 0.1 %\nTotal non-operating income (expense) (300.8)% (40.3) % (4.1)%\nNet income (loss) before income taxes (694.7)% (312.5) % 14.1 %\nIncome tax benefit (expense) (0.8)% (1.0) % 0.3 %\nNet income (loss) (695.5)% (313.5) % 14.4 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_revenue_growth",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "647986k, prior year 1279908k",
      "golden_context": "Page 74:\n\nfication of debt, compared to Adjusted Net Loss and Adjusted EPS of $(2.2) billion and $(8.64), respectively, for\nthe year ended December 31, 2020. A 65.0% decrease in Adjusted EBITDA was incurred for the same period. We refer\nyou to our “Results of Operations” below for a calculation of Adjusted Net Income (Loss), Adjusted EPS and Adjusted\nEBITDA.\nResults of Operations\nWe reported total revenue, total cruise operating expense, operating income and net income as follows (in thousands,\nexcept per share data):\nYear Ended December 31,\n2021 2020 2019\nTotal revenue $ 647,986 $ 1,279,908 $ 6,462,376\nTotal cruise operating expense $ 1,608,037 $ 1,693,061 $ 3,663,261\nOperating income (loss) Net income (loss) $ (2,552,348) $ (3,484,135) $ 1,178,077\n$ (4,506,587) $ (4,012,514) $ 930,228\nEPS:\nBasic $ (12.33) $ (15.75) $ 4.33\nDiluted $ (12.33) $ (15.75) $ 4.30\nThe following table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2021 2020 2019\nRevenue\nPassenger ticket Onboard and other 60.6 % 67.7 % 69.9 %\n39.4 % 32.3 % 30.1 %\nTotal revenue 100.0 % 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 22.2 % 29.7 % 17.4 %\nOnboard and other 8.3 % 6.7 % 6.1 %\nPayroll and related Fuel 82.9 % 40.7 % 14.3 %\n46.6 % 20.7 % 6.3 %\nFood 9.7 % 5.1 % 3.4 %\nOther 78.4 % 29.4 % 9.2 %\nTotal cruise operating expense 248.1 % 132.3 % 56.7 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 137.6 % 58.2 % 15.1 %\n108.2 % 56.1 % 10.0 %\nImpairment loss — % 125.6 % — %\nTotal other operating expense Operating income (loss) 245.8 % 239.9 % 25.1 %\n(393.9)% (272.2) % 18.2 %\nNon-operating income (expense)\nInterest expense, net (319.9)% (37.7) % (4.2)%\nOther income (expense), net 19.1 % (2.6) % 0.1 %\nTotal non-operating income (expense) (300.8)% (40.3) % (4.1)%\nNet income (loss) before income taxes (694.7)% (312.5) % 14.1 %\nIncome tax benefit (expense) (0.8)% (1.0) % 0.3 %\nNet income (loss) (695.5)% (313.5) % 14.4 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000163_segments",
      "report_id": "ID_000163",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Single reporting segment. There are different brands, but in terms of the official reporting segmentation, the company opted for reporting a single segment.",
      "golden_context": "Page 111:\n\nSegment Reporting\nWe have concluded that our business has a single reportable segment. Each brand, Norwegian, Oceania Cruises and\nRegent, constitutes a business for which discrete financial information is available and management regularly reviews\nthe brand level operating results and, therefore, each brand is considered an operating segment. Our operating segments\nhave similar economic and qualitative characteristics, including similar long-term margins and similar products and\nservices; therefore, we aggregate all of the operating segments into one reportable segment.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_cash_flow",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 210020k, investing: -1755904k, financing: 986224k",
      "golden_context": "Page 111:\n\nNorwegian Cruise Line Holdings Ltd.\nConsolidated Statements of Cash Flows\n(in thousands)\nYear Ended December 31,\n2022 2021 2020\nCash flows from operating activities\nNet loss $ (2,269,909) $ (4,506,587) $ (4,012,514)\nAdjustments to reconcile net loss to net cash provided by (used in)\noperating activities:\nDepreciation and amortization expense 810,053 758,604 739,619\nImpairment loss — — 1,607,797\nDeferred income taxes, net (1,237) 78 12,765\n(Gain) loss on derivatives 8,618 (39,842) (8,501)\nLoss on extinguishment of debt 188,799 1,399,816 10,480\nProvision for bad debts and inventory obsolescence 13,609 19,284 31,756\nGain on involuntary conversion of assets (2,300) (9,486) (1,496)\nShare-based compensation expense 113,563 124,077 111,297\nPayment-in-kind interest premium — — 19,349\nNet foreign currency adjustments (10,795) (9,865) 8,584\nChanges in operating assets and liabilities:\nAccounts receivable, net 828,661 (1,159,998) 30,797\nInventories (33,609) (37,481) 10,555\nPrepaid expenses and other assets (601,080) 24,004 (89,528)\nAccounts payable (16,196) 152,026 (21,419)\nAccrued expenses and other liabilities 252,896 295,451 (193,938)\nAdvance ticket sales 928,947 521,910 (811,846)\n210,020 (2,468,009) (2,556,243)\nNet cash provided by (used in) operating activities Cash flows from investing activities\nAdditions to property and equipment, net (1,783,857) (752,843) (946,545)\nPurchases of short-term investments — (1,010,000) —\nProceeds from maturities of short-term investments 240,000 770,000 —\nCash paid on settlement of derivatives (224,137) (23,496) (31,520)\nOther, net 12,090 12,295 2,703\nNet cash used in investing activities (1,755,904) (1,004,044) (975,362)\nCash flows from financing activities\nRepayments of long-term debt Proceeds from long-term debt Common share issuance proceeds, net (1,770,172) (2,113,063) (892,481)\n3,003,003 2,601,317 6,075,090\n— 2,665,843 1,541,708\nProceeds from employee related plans 5,267 3,141 5,557\nNet share settlement of restricted share units (20,987) (16,687) (15,407)\nEarly redemption premium Deferred financing fees (172,012) (1,354,882) (1,376)\n(58,875) (107,451) (133,880)\nNet cash provided by financing activities Net increase (decrease) in cash and cash equivalents 986,224 1,678,218 6,579,211\n(559,660) (1,793,835) 3,047,606\nCash and cash equivalents at beginning of period Cash and cash equivalents at end of period The accompanying notes are an integral part of these consolidated financial statements.\n1,506,647 3,300,482 252,876\n$ 946,987 $ 1,506,647 $ 3,300",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_company_type",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 19:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 001-35784\nNORWEGIAN CRUISE LINE HOLDINGS LTD.\n(Exact name of registrant as specified in its charter)\nBermuda 98-0691007\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of each class 7665 Corporate Center Drive, Miami, Florida 33126\n(Address of principal executive offices) (zip code)\n(305) 436-4000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nOrdinary shares, par value $0.001 per share NCLH Securities registered pursuant to Section 12(g) of the Act: None\nThe New York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  Yes No \n No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Non-accelerated filer  Accelerated filer \nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\n☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by ch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_key_financials",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Total revenue: 4843760k, adjusted gross margin 3451199k",
      "golden_context": "Page 78:\n\n thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal revenue $ 4,843,760 $ 4,891,222 $ 647,986\nLess:\nTotal cruise operating expense 4,267,086 4,306,953 1,608,037\nShip depreciation 700,988 700,988 650,138\nGross Margin (124,314) (116,719) (1,610,189)\nShip depreciation 700,988 700,988 650,138\nPayroll and related 1,088,639 1,089,184 537,439\nFuel 686,825 687,022 301,852\nFood 263,807 267,500 62,999\nOther 835,254 857,657 508,186\n$ 3,451,199 $ 3,485,632 $ 450,425\nAdjusted Gross Margin Gross Cruise Cost, Net Cruise Cost, Net Cruise Cost Excluding Fuel and Adjusted Net Cruise Cost Excluding Fuel were\ncalculated as follows (in thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal cruise operating expense $ 4,267,086 $ 4,306,953 $ 1,608,037\nMarketing, general and administrative expense 1,379,105 1,389,087 891,452\nGross Cruise Cost 5,646,191 5,696,040 2,499,489\nLess:\nCommissions, transportation and other expense 1,034,629 1,047,658 143,524\nOnboard and other expense 357,932 357,932 54,037\nNet Cruise Cost 4,253,630 4,290,450 2,301,928\nLess: Fuel expense 686,825 687,022 301,852\n3,566,805 3,603,428 2,000,076\nNet Cruise Cost Excluding Fuel Less Non-GAAP Adjustments:\nNon-cash deferred compensation (1) 2,797 2,797 3,619\nNon-cash share-based compensation (2) 113,563 113,563 124,077\nRestructuring costs (3) 12,140 12,140 —\nAdjusted Net Cruise Cost Excluding Fuel (1) (2) (3) $ 3,438,305 $ 3,474,928 $ 1,872,380\nNon-cash deferred compensation expenses related to the crew pension plan and other crew expenses, which are\nincluded in payroll and related expense.\nNon-cash share-based compensation expenses related to equity awards, which are included in marketing, general\nand administrative expense and payroll and related expense.\nRestructuring costs related to the workforce reduction are included in marketing, gen\n\nPage 77:\n\nollowing table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2022 2021\nRevenue\nPassenger ticket Onboard and other 67.2 % 60.6 %\n32.8 % 39.4 %\nTotal revenue 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 21.4 % 22.2 %\nOnboard and other 7.4 % 8.3 %\nPayroll and related 22.5 % 82.9 %\nFuel 14.2 % 46.6 %\nFood 5.4 % 9.7 %\nOther 17.2 % 78.4 %\nTotal cruise operating expense 88.1 % 248.1 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 28.5 % 137.6 %\n15.5 % 108.2 %\nTotal other operating expense 44.0 % 245.8 %\nOperating loss (32.1)% (393.9)%\nNon-operating income (expense)\nInterest expense, net (16.5)% (319.9)%\nOther income (expense), net 1.6 % 19.1 %\nTotal non-operating income (expense) Net loss before income taxes (14.9)% (300.8)%\n(47.0)% (694.7)%\nIncome tax benefit (expense) 0.1 % (0.8)%\nNet loss (46.9)% (695.5)%\nThe following table sets forth selected statistical information:\nYear Ended December 31,\n2022 2021\nPassengers carried 1,663,275 232,448\nPassenger Cruise Days 12,791,773 1,778,899\nCapacity Days (1) 17,566,069 3,376,703\nOccupancy Percentage 72.8 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_revenue",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "total revenue 4843760k",
      "golden_context": "Page 78:\n\n thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal revenue $ 4,843,760 $ 4,891,222 $ 647,986\nLess:\nTotal cruise operating expense 4,267,086 4,306,953 1,608,037\nShip depreciation 700,988 700,988 650,138\nGross Margin (124,314) (116,719) (1,610,189)\nShip depreciation 700,988 700,988 650,138\nPayroll and related 1,088,639 1,089,184 537,439\nFuel 686,825 687,022 301,852\nFood 263,807 267,500 62,999\nOther 835,254 857,657 508,186\n$ 3,451,199 $ 3,485,632 $ 450,425\nAdjusted Gross Margin Gross Cruise Cost, Net Cruise Cost, Net Cruise Cost Excluding Fuel and Adjusted Net Cruise Cost Excluding Fuel were\ncalculated as follows (in thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal cruise operating expense $ 4,267,086 $ 4,306,953 $ 1,608,037\nMarketing, general and administrative expense 1,379,105 1,389,087 891,452\nGross Cruise Cost 5,646,191 5,696,040 2,499,489\nLess:\nCommissions, transportation and other expense 1,034,629 1,047,658 143,524\nOnboard and other expense 357,932 357,932 54,037\nNet Cruise Cost 4,253,630 4,290,450 2,301,928\nLess: Fuel expense 686,825 687,022 301,852\n3,566,805 3,603,428 2,000,076\nNet Cruise Cost Excluding Fuel Less Non-GAAP Adjustments:\nNon-cash deferred compensation (1) 2,797 2,797 3,619\nNon-cash share-based compensation (2) 113,563 113,563 124,077\nRestructuring costs (3) 12,140 12,140 —\nAdjusted Net Cruise Cost Excluding Fuel (1) (2) (3) $ 3,438,305 $ 3,474,928 $ 1,872,380\nNon-cash deferred compensation expenses related to the crew pension plan and other crew expenses, which are\nincluded in payroll and related expense.\nNon-cash share-based compensation expenses related to equity awards, which are included in marketing, general\nand administrative expense and payroll and related expense.\nRestructuring costs related to the workforce reduction are included in marketing, gen\n\nPage 77:\n\nollowing table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2022 2021\nRevenue\nPassenger ticket Onboard and other 67.2 % 60.6 %\n32.8 % 39.4 %\nTotal revenue 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 21.4 % 22.2 %\nOnboard and other 7.4 % 8.3 %\nPayroll and related 22.5 % 82.9 %\nFuel 14.2 % 46.6 %\nFood 5.4 % 9.7 %\nOther 17.2 % 78.4 %\nTotal cruise operating expense 88.1 % 248.1 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 28.5 % 137.6 %\n15.5 % 108.2 %\nTotal other operating expense 44.0 % 245.8 %\nOperating loss (32.1)% (393.9)%\nNon-operating income (expense)\nInterest expense, net (16.5)% (319.9)%\nOther income (expense), net 1.6 % 19.1 %\nTotal non-operating income (expense) Net loss before income taxes (14.9)% (300.8)%\n(47.0)% (694.7)%\nIncome tax benefit (expense) 0.1 % (0.8)%\nNet loss (46.9)% (695.5)%\nThe following table sets forth selected statistical information:\nYear Ended December 31,\n2022 2021\nPassengers carried 1,663,275 232,448\nPassenger Cruise Days 12,791,773 1,778,899\nCapacity Days (1) 17,566,069 3,376,703\nOccupancy Percentage 72.8 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_revenue_growth",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "total revenue 4843760k, prior year 4891222k",
      "golden_context": "Page 78:\n\n thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal revenue $ 4,843,760 $ 4,891,222 $ 647,986\nLess:\nTotal cruise operating expense 4,267,086 4,306,953 1,608,037\nShip depreciation 700,988 700,988 650,138\nGross Margin (124,314) (116,719) (1,610,189)\nShip depreciation 700,988 700,988 650,138\nPayroll and related 1,088,639 1,089,184 537,439\nFuel 686,825 687,022 301,852\nFood 263,807 267,500 62,999\nOther 835,254 857,657 508,186\n$ 3,451,199 $ 3,485,632 $ 450,425\nAdjusted Gross Margin Gross Cruise Cost, Net Cruise Cost, Net Cruise Cost Excluding Fuel and Adjusted Net Cruise Cost Excluding Fuel were\ncalculated as follows (in thousands):\nYear Ended December 31,\n2022\nConstant\n2022 Currency 2021\nTotal cruise operating expense $ 4,267,086 $ 4,306,953 $ 1,608,037\nMarketing, general and administrative expense 1,379,105 1,389,087 891,452\nGross Cruise Cost 5,646,191 5,696,040 2,499,489\nLess:\nCommissions, transportation and other expense 1,034,629 1,047,658 143,524\nOnboard and other expense 357,932 357,932 54,037\nNet Cruise Cost 4,253,630 4,290,450 2,301,928\nLess: Fuel expense 686,825 687,022 301,852\n3,566,805 3,603,428 2,000,076\nNet Cruise Cost Excluding Fuel Less Non-GAAP Adjustments:\nNon-cash deferred compensation (1) 2,797 2,797 3,619\nNon-cash share-based compensation (2) 113,563 113,563 124,077\nRestructuring costs (3) 12,140 12,140 —\nAdjusted Net Cruise Cost Excluding Fuel (1) (2) (3) $ 3,438,305 $ 3,474,928 $ 1,872,380\nNon-cash deferred compensation expenses related to the crew pension plan and other crew expenses, which are\nincluded in payroll and related expense.\nNon-cash share-based compensation expenses related to equity awards, which are included in marketing, general\nand administrative expense and payroll and related expense.\nRestructuring costs related to the workforce reduction are included in marketing, gen\n\nPage 77:\n\nollowing table sets forth operating data as a percentage of total revenue:\nYear Ended December 31,\n2022 2021\nRevenue\nPassenger ticket Onboard and other 67.2 % 60.6 %\n32.8 % 39.4 %\nTotal revenue 100.0 % 100.0 %\nCruise operating expense\nCommissions, transportation and other 21.4 % 22.2 %\nOnboard and other 7.4 % 8.3 %\nPayroll and related 22.5 % 82.9 %\nFuel 14.2 % 46.6 %\nFood 5.4 % 9.7 %\nOther 17.2 % 78.4 %\nTotal cruise operating expense 88.1 % 248.1 %\nOther operating expense\nMarketing, general and administrative Depreciation and amortization 28.5 % 137.6 %\n15.5 % 108.2 %\nTotal other operating expense 44.0 % 245.8 %\nOperating loss (32.1)% (393.9)%\nNon-operating income (expense)\nInterest expense, net (16.5)% (319.9)%\nOther income (expense), net 1.6 % 19.1 %\nTotal non-operating income (expense) Net loss before income taxes (14.9)% (300.8)%\n(47.0)% (694.7)%\nIncome tax benefit (expense) 0.1 % (0.8)%\nNet loss (46.9)% (695.5)%\nThe following table sets forth selected statistical information:\nYear Ended December 31,\n2022 2021\nPassengers carried 1,663,275 232,448\nPassenger Cruise Days 12,791,773 1,778,899\nCapacity Days (1) 17,566,069 3,376,703\nOccupancy Percentage 72.8 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000164_segments",
      "report_id": "ID_000164",
      "company_name": "Norwegian Cruise Line Holdings",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Single reportable segment. There are multiple brands, but the official reporting segmentation only consists of a single segment.",
      "golden_context": "Page 117:\n\npoint in time and revenue is recognized when the performance obligation is satisfied. A receivable is\nrecognized for onboard goods and services rendered when the voyage is not completed before the end of the period. All\nassociated direct costs of a voyage are recognized as incurred in cruise operating expenses.\nDisaggregation of Revenue\nRevenue and cash flows are affected by economic factors in various geographical regions.\nRevenues by destination consisted of the following (in thousands):\nYear Ended December 31,\n2022 2021 2020\nNorth America $ 3,076,788 $ 424,377 $ 960,258\nEurope 1,557,308 211,767 27,602\nAsia-Pacific 115,438 6,186 152,976\nOther 94,226 5,656 139,072\nTotal revenue $ 4,843,760 $ 647,986 $ 1,279,908\nSegment Reporting\nWe have concluded that our business has a single reportable segment. Each brand, Norwegian, Oceania Cruises and\nRegent, constitutes a business for which discrete financial information is available and management regularly reviews\nthe brand level operating results, and therefore, each brand is considered an operating segment. Our operating segments\nhave similar economic and qualitative characteristics, including similar long-term margins and similar products and\nservices; therefore, we aggregate all of the operating segments into one reportable segment.\nAlthough we sell cruises on an international basis, our passenger ticket revenue is primarily attributed to U.S.-sourced\nguests who make reservations through the U.S. Revenue attributable to U.S.-sourced guests was 85%, 87% and 83% for\nthe years ended December 31, 2022, 2021 and 2020, respectively. No other individual country’s revenues exceeded 10%\nin any of our last three years.\nSubstantially all of our long-lived assets are located outside of the U.S. and consist primarily of our ships. We had 20\nships with Bahamas registry with a carrying value of $10.6 billion as of December 31, 2022 and 19 ships with Bahamas\nregistry with a carrying value of $9.7 billion as of December 31, 2021. We had eight ships with Marshall Islands registry\nwith a carrying value of $2.3 billion as of December 31, 2022 and 2021. We also had one ship with U.S. registry with a\ncarrying value of $0.3 billion as of December 31, 2022 and 2021.\nDebt Issuance Costs\nDebt issuance costs related to a recognized debt liability are presented in the consolidated balance sheets as a direct\ndeduction from the carrying amount of that debt liability, consistent with debt discounts. For line of credit arrangements\nand for those debt facilities not fully drawn we defer and present debt issuance costs as an asset. These deferred issuance\ncosts are amortized over the life of the loan. The amortization of deferred financing fees is included in depreciation and\namortization expense in the consolidated statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_cash_flow",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 352.2m",
      "golden_context": "Page 50:\n\nacquisition strategies may or may not require additional borrowings under the line-of-credit facility or other outside sources\nof funding.\nCash Flows From Operating Activities\nThe Company generated cash from operations of $352.2 million, $205.2 million, and $181.6 million in fiscal 2021, 2020, and 2019\nrespectively. The increase in cash generated from operating activities in fiscal 2021 as compared to fiscal 2020 was mainly a result\nof an increase in year over year operating income of $79.9 million and a $29.3 million benefit to operating cash from year-over-year\nchanges in operating assets and liabilities as well as a non-cash stock-based compensation expense of $16.6 million. The increase in\ncash generated from operating activities in fiscal 2020 as compared to fiscal 2019 was mainly a result of higher GAAP earnings and\nlower accounts receivable balances in fiscal 2020, which were partially offset by the gain on investments included within earnings.\nCash Flows From Investing Activities\nWe continue to make investments in our business, including capital expenditures. The Company acquired Eminence Biotechnology\nand Asuragen, Inc. during fiscal year 2021 for a total of approximately $225.4 million, net of cash acquired. The Company did not\nmake any acquisitions in fiscal 2020. Net cash paid for acquisitions of Quad, Exosome, and B-MoGen was $289.5 million in fiscal\n2019.\n32\nThe Company's net proceeds (outflow) from the purchase, sale and maturity of available-for-sale investments in fiscal 2021, 2020,\nand 2019 were $26.7 million, $76.9, and ($21.9 million) million, respectively. The decrease in fiscal 2021 compared to fiscal\n2020 was driven by the sale of a portion of the CCXI investment in fiscal year 2020, which did not reoccur in fiscal year 2021. The\nincrease in fiscal 2020 compared to fiscal 2019 was driven by the sale of a portion of the Company’s investment in CCXI in fiscal\n2020.The Company's investment policy is to place excess cash in certificates of deposit with the objective of obtaining the highest\npossible return while minimizing risk and keeping the funds accessible.\nCapital additions in fiscal year 2021, 2020, and 2019 were $44.3 million, $51.7 million, and $25.4 million. Fiscal 2021 capital\nexpenditures related to investments in new buildings, in particular, the Company's GMP manufacturing facility. Capital additions\nplanned for fiscal 2022 are approximately $68.4 million and are expected to be financed through currently available cash and cash\ngenerated from operations. Increase in expected additions in fiscal 2022 is related to increasing capacity to meet expected sales\ngrowth across the Company and reduced expenditures in the comparable period, fiscal year 2021, due to the COVID-19 pandemic.\nCash Flows From Financing Activities\nIn fiscal 2021, 2020, and 2019, the Company paid cash dividends of $49.6 million, $48.9 million, $48.4 million, respectively. The\nBoard of Directors periodically considers the payment of cash dividends.\nThe Company received $65.1 million, $71.0 million, $38.0 million, for the exercise of options for 627,000, 743,000, 382,000\nshares of common stock in fiscal 2021, 2020 and 2019, respectively.\nDuring fiscal 2021, 2020, and 2019, the Company repurchased $43.2 million, $50.1 million, and $15.4 million, respectively, in share\nrepurchases included as a cash outflow within Financing Activities.\nDuring fiscal 2021, 2020, and 2019, the Company drew $256.0 million, $40.0 million, and $580.0 million, respectively, under its\nrevolving line-of-credit facility. Repayments of $271.5 million, $188.5 million, and $413.5 million were made on its line-of-credit\nin fiscal 2021, 2020, and 2019, respectively.\nDuring fiscal 2021, there were no payments related to contingent consideration classified as financing activities. The Company made\n$0.3 million in contingent consideration payments, which were classified within operating activities. During fiscal 2020, the\nCompany made $4.4 million ($4 million for Quad and $0.4 million for B-MoGen) in cash payments towards the Quad, Exosome,\nand B-MoGen contingent consideration liabilities. Of the $4.4 million in total payments, $3.4 million is classified as financing on\nthe statement of cash flows. The remaining $1 million is recorded as operating on the statement of cash flows as it represents the\nconsideration liability that exceeds the amount of the contingent consideration liability recognized at the acquisition date. During\nfiscal 2019, the Company made no cash payments towards the Quad, Exosome, and B-MoGen contingent consideration liabilities.\nDuring fiscal 2021 and 2020, the Company paid $19.3 million and $3.8 million, respectively, for net share settlements. During\nfiscal 2019, other financial activities includes payments f",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_company_type",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 15:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2021, or\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period\nfrom to\nCommission file number 0-17272\nBIO-TECHNE CORPORATION\n(Exact name of registrant as specified in its charter)\nMinnesota 41-1427402\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n614 McKinley Place N.E.\nMinneapolis, MN 55413 (612) 379-8854\n(Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code)\nTitle of each class Common Stock, $0.01 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) TECH Name of each exchange on which registered\nThe NASDA",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_key_financials",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "931m revenues, adj. gross margin: 72.2%, adjusted operating income: 363m, adjusted EPS 6.75, market cap: 17.5bn, adjusted earnings 273.2m",
      "golden_context": "Page 9:\n\npread across\nsix business units. With the recent creation\nof the Molecular Diagnostics division, which\ncombines the Asuragen and Exosome\nDiagnostics businesses, we now have five, still\nall within our two operating segments, Protein\nSciences and Diagnostics and Genomics. One\nusually does this to mitigate risk so that at any\none time not all businesses can be in a down\ncycle. This in my experience works well from an\norganization design, because you “divide and\ngrow”. It is also good operationally and can\nsmooth out the lumps, so to speak. So, what\nhappens when all are doing well and firing at\nonce? You get a year like we had at 22% organic\ngrowth! It was a lot of fun and very inspiring for\nthe team.\nHIGHLIGHTS OF\nOUR FISCAL 2021\nPERFORMANCE:\nAdjusted earnings were\n$273.2m\nabout 52% more than last year.\nAdjusted earnings per share were\n$6.75,\n+48% over last year.\nCurrency exchange impacted earnings per\nshare positively by\n$0.11, or 2%.\nYear Ended June 30\n(In thousands)\n2021 2020 2019 2018 2017\nNet Sales $931M $739M $714M $643M $563M\nAdjusted net\nearnings(1) $273M $179M $175M $173M $140M\nAdjusted diluted\nearnings per\nshare (1)\n$6.75 $4.55 $4.51 $4.54 $3.72\nCash flow from\noperations Overall, revenue increased 26% to\n$931m\nOrganic revenue was 22% over the prior\nyear, with currency translation having a\npositive impact of 3% and acquisitions\ncontributing 1% to the revenue growth..\n(1) Excludes intangible assets amortization, costs recognized upon the sale of\ninventory that was written-up to fair value as part of acquisitions, professional\nfees related to acquisition activity and the impact of certain tax events. See\nItem 7 of the Company’s Annual Report on Form 10-K, following, for further\ndetails.\n$352M (In thousands\nexcept per share\ndata)\n$205M $182M $170M $143M\nAdjusted operating margins for the year were\n38.9%,\n560 basis points over last year.\nYear Ended June 30\n2021 2020 2019 2018 2017\nCash, cash\nequivalents and\navailable-for-sale\ninvestments\n$232M $271M $166M $182M $158M\nTotal assets $2,263M $2,028M $1,884M $1,593M $1,558M\nLong term debt\nobligations (1) $354M $344M $502M $339M $347M\nStockholder's\nequity $1,571M $1,381M $1,166M $1,079M $950M\nCommon shares\noutstanding 38,955M 38,453M 37,934M 37,608M 37,356M\nCash from operations was\n$352m\nfor the year and we returned nearly\n$50m\nto our shareholders\nin the form of dividends.\n\nPage 8:\n\nGLOBAL FOOTPRINT\nF I S CA L Y E A R E N D S : F Y 2 0 2 1 R E V E N U E S : F Y 2 0 2 1 A DJ . G R O S S F Y 2 0 2 1 A DJ . O P I N C . : F Y 2 0 2 1 A DJ U ST E D E P S : F Y 2 0 2 1 M A R K E T CA P: M A R G I N : J U N E $ 9 3 1 M\n7 2 . 2 %\n$ 3 6 2 M\n$ 6 . 7 5\n$ 1 7 . 5 B\n3 0\n355,000\nQUALITY PRODUCTS\n44 YEARS\nMANUFACTURING &\nSOURCING REAGENTS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_revenue",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "931m",
      "golden_context": "Page 8:\n\nGLOBAL FOOTPRINT\nF I S CA L Y E A R E N D S : F Y 2 0 2 1 R E V E N U E S : F Y 2 0 2 1 A DJ . G R O S S F Y 2 0 2 1 A DJ . O P I N C . : F Y 2 0 2 1 A DJ U ST E D E P S : F Y 2 0 2 1 M A R K E T CA P: M A R G I N : J U N E $ 9 3 1 M\n7 2 . 2 %\n$ 3 6 2 M\n$ 6 . 7 5\n$ 1 7 . 5 B\n3 0\n355,000\nQUALITY PRODUCTS\n44 YEARS\nMANUFACTURING &\nSOURCING REAGENTS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_revenue_growth",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "931m net sales, 739m prior year",
      "golden_context": "Page 9:\n\npread across\nsix business units. With the recent creation\nof the Molecular Diagnostics division, which\ncombines the Asuragen and Exosome\nDiagnostics businesses, we now have five, still\nall within our two operating segments, Protein\nSciences and Diagnostics and Genomics. One\nusually does this to mitigate risk so that at any\none time not all businesses can be in a down\ncycle. This in my experience works well from an\norganization design, because you “divide and\ngrow”. It is also good operationally and can\nsmooth out the lumps, so to speak. So, what\nhappens when all are doing well and firing at\nonce? You get a year like we had at 22% organic\ngrowth! It was a lot of fun and very inspiring for\nthe team.\nHIGHLIGHTS OF\nOUR FISCAL 2021\nPERFORMANCE:\nAdjusted earnings were\n$273.2m\nabout 52% more than last year.\nAdjusted earnings per share were\n$6.75,\n+48% over last year.\nCurrency exchange impacted earnings per\nshare positively by\n$0.11, or 2%.\nYear Ended June 30\n(In thousands)\n2021 2020 2019 2018 2017\nNet Sales $931M $739M $714M $643M $563M\nAdjusted net\nearnings(1) $273M $179M $175M $173M $140M\nAdjusted diluted\nearnings per\nshare (1)\n$6.75 $4.55 $4.51 $4.54 $3.72\nCash flow from\noperations Overall, revenue increased 26% to\n$931m\nOrganic revenue was 22% over the prior\nyear, with currency translation having a\npositive impact of 3% and acquisitions\ncontributing 1% to the revenue growth..\n(1) Excludes intangible assets amortization, costs recognized upon the sale of\ninventory that was written-up to fair value as part of acquisitions, professional\nfees related to acquisition activity and the impact of certain tax events. See\nItem 7 of the Company’s Annual Report on Form 10-K, following, for further\ndetails.\n$352M (In thousands\nexcept per share\ndata)\n$205M $182M $170M $143M\nAdjusted operating margins for the year were\n38.9%,\n560 basis points over last year.\nYear Ended June 30\n2021 2020 2019 2018 2017\nCash, cash\nequivalents and\navailable-for-sale\ninvestments\n$232M $271M $166M $182M $158M\nTotal assets $2,263M $2,028M $1,884M $1,593M $1,558M\nLong term debt\nobligations (1) $354M $344M $502M $339M $347M\nStockholder's\nequity $1,571M $1,381M $1,166M $1,079M $950M\nCommon shares\noutstanding 38,955M 38,453M 37,934M 37,608M 37,356M\nCash from operations was\n$352m\nfor the year and we returned nearly\n$50m\nto our shareholders\nin the form of dividends.\n\nPage 8:\n\nGLOBAL FOOTPRINT\nF I S CA L Y E A R E N D S : F Y 2 0 2 1 R E V E N U E S : F Y 2 0 2 1 A DJ . G R O S S F Y 2 0 2 1 A DJ . O P I N C . : F Y 2 0 2 1 A DJ U ST E D E P S : F Y 2 0 2 1 M A R K E T CA P: M A R G I N : J U N E $ 9 3 1 M\n7 2 . 2 %\n$ 3 6 2 M\n$ 6 . 7 5\n$ 1 7 . 5 B\n3 0\n355,000\nQUALITY PRODUCTS\n44 YEARS\nMANUFACTURING &\nSOURCING REAGENTS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000166_segments",
      "report_id": "ID_000166",
      "company_name": "Bio-Techne",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Protein Sciences, Diagnostics and Genomics",
      "golden_context": "Page 22:\n\nWe manage the business in two operating segments – our Protein Sciences segment and our Diagnostics and Genomics segment.\nOur Protein Sciences segment is a leading developer and manufacturer of high-quality biological reagents used in all aspects of life\nscience research, diagnostics and cell and gene therapy. This segment also includes proteomic analytical tools, both manual and\nautomated, that offer researchers and pharmaceutical manufacturers efficient and streamlined options for automated western blot and\nmultiplexed ELISA workflow. Our Diagnostics and Genomics segment develops and manufactures diagnostic products, including\ncontrols, calibrators, and diagnostic assays for the regulated diagnostics market, exosome-based molecular diagnostic assays,\nadvanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for\nresearch and clinical applications.\nWe are a Minnesota corporation with",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000167_cash_flow",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "325m cash flow from operations",
      "golden_context": "Page 12:\n\ninancial\nPerformance\nin Fiscal 2022\nWe have designed and built a company based on a subsidiary\nmodel approach which is a highly differentiated portfolio of over a\ndozen product platforms spread across five divisions. Many of these\nplatforms could be their own stand-alone companies. Most make\nmoney! Still, all of these are within our two operating segments,\nProtein Sciences and Diagnostics and Genomics. One usually does\nthis for mitigating risk so that at any one time not all can be in a\ndown cycle. This in my experience works well from an organizational\ndesign perspective, because you “divide and grow”. It is also good\noperationally and can smooth out the lumps, so to speak.\n(1) Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization\nof acquisition intangibles, acquisition related expenses inclusive of the changes in fair value of contingent\nconsideration, the revenues and expenses attributable to partially-owned consolidated subsidiaries, and\nother non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains.\nAdjusted net earnings and earnings per share for fiscal 2021 have been updated for comparability to fiscal\n2022 for the inclusion of the impact of partially-owned consolidated subsidiaries on the Company’s adjusted\nconsolidated net earnings and earnings per share. See Item 7 of the Company’s Annual Report on From 10-K,\nfollowing, for further details.\n(In thousands)\nCash, cash equivalents and\navailable-for-sale investments Total assets Long term debt obligations (1) Total Stockholder's equity Common shares outstanding Weighted-average common\nshares outstanding - diluted (1) Includes long-term contingent considerations payable.\n(In thousands, except\nper share data)\nYear Ended June 30\n2022 2021 2020 2019 2018\nNet Sales $1,106M $931M $739M $714M $643M\nAdjusted net earnings (1) $324M $274M $179M $175M $173M\nAdjusted diluted\nearnings per share (1) $7.89 $6.76 $4.55 $4.51 $4.54\nCash flow from operations $325M $352M $205M $182M $170M\nYear Ended June 30\n2022 2021 2020 2019 2018\n$247M $232M $271M $166M $182M\n$2,295M $2,263M $2,028M $1,884M $1,593M\n$248M $354M $344M $502M $339M\n$1,701M $1,571M $1,381M $1,166M $1,079M\n39,160M 38,955M 38,453M 37,934M 37,608M\n41,029M 40,483M 39,401M 38,892M 38,055M",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000167_company_type",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "er share data)\n—\n—Bio­Techne Corporation and Subsidiaries\n(in thousands, except share and per share data)\nLIABILITIES AND SHAREHOLDERS’ EQUITY\n—\nTechne’s Shareholders’ equity:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000167_key_financials",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "1.1bn revenue, 17% organic growth",
      "golden_context": "Page 4:\n\ntake the test\nfor surveillance purposes opens up a nice reservoir\nof potential new revenue this coming year. Our\nnext biggest accomplishment for the year was the\nprogress we made in our Cell and Gene Therapy\ninitiative. We closed an agreement to acquire\nWilson Wolf, the manufacturer of the world’s leading\nsolution for Cell Therapy bioreactors.\nG-Rex™, the product brand, is the de\nfacto standard for cell expansion in\nthe industry with over 800 customers\nin pre-clinical or clinical trials. I will\ndiscuss the terms of this incredible\ndeal below.\nCOVID tailwinds are certainly still\npresent in some customer segments,\nsuch as vaccine manufacturers, but\nwe really attribute our strong growth\nthese past years to solid execution,\nbuilding a great strategy and team,\nsynergistic M&A, and a best-in-\nclass digital platform, allowing our\ncustomers to fully appreciate\nBio-Techne and all we have to offer.\nWe are a 46-year-old company, but only\nnine years into our journey as Bio-Techne. The five\ndivisions across our Protein Sciences Segment and\nDiagnostics and Genomics Segment are coiled tight\nfor future growth, all with solid product pipelines and\nchannels that are hungry for our innovation.\nI want to devote the last section of my opening\ncomments to thanking a couple of retiring\nexecutives. Dave Eansor has been a tireless and\nexemplary executive; we owe him much gratitude for\n$ 1.1B\nRevenue\n17%\nOrganic Growth\nbuilding the Protein Sciences Segment into the great\nbusiness it is today. Dave worked with me at Thermo\nFisher many years ago, and he came to Bio-Techne\nvia the acquisition of Novus Biologicals seven years\nago. Best deal I ever did, in getting Dave. Succession\nis something we take seriously here at Bio-Techne\nand we welcome a new industry veteran, Will Geist,\nto take the helm for Dave. Will’s background includes\nrelevant experience at Quanterix, Thermo Fisher\nScientific and Qiagen. Given Will’s\ndeep science domain knowledge\nand industry experience, we are\nalready seeing his contributions.\nI’ve worked with many executives\nover the years but never with\nanyone as innovative and culture\ncreating as Struan Robertson,\nwho joined us 6 years ago as head\nof our Human Resources. Struan\nessentially built the new culture for\nthe company and was tireless as he\ntraveled to all of our gl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000167_revenue",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "1106m",
      "golden_context": "Page 12:\n\ninancial\nPerformance\nin Fiscal 2022\nWe have designed and built a company based on a subsidiary\nmodel approach which is a highly differentiated portfolio of over a\ndozen product platforms spread across five divisions. Many of these\nplatforms could be their own stand-alone companies. Most make\nmoney! Still, all of these are within our two operating segments,\nProtein Sciences and Diagnostics and Genomics. One usually does\nthis for mitigating risk so that at any one time not all can be in a\ndown cycle. This in my experience works well from an organizational\ndesign perspective, because you “divide and grow”. It is also good\noperationally and can smooth out the lumps, so to speak.\n(1) Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization\nof acquisition intangibles, acquisition related expenses inclusive of the changes in fair value of contingent\nconsideration, the revenues and expenses attributable to partially-owned consolidated subsidiaries, and\nother non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains.\nAdjusted net earnings and earnings per share for fiscal 2021 have been updated for comparability to fiscal\n2022 for the inclusion of the impact of partially-owned consolidated subsidiaries on the Company’s adjusted\nconsolidated net earnings and earnings per share. See Item 7 of the Company’s Annual Report on From 10-K,\nfollowing, for further details.\n(In thousands)\nCash, cash equivalents and\navailable-for-sale investments Total assets Long term debt obligations (1) Total Stockholder's equity Common shares outstanding Weighted-average common\nshares outstanding - diluted (1) Includes long-term contingent considerations payable.\n(In thousands, except\nper share data)\nYear Ended June 30\n2022 2021 2020 2019 2018\nNet Sales $1,106M $931M $739M $714M $643M\nAdjusted net earnings (1) $324M $274M $179M $175M $173M\nAdjusted diluted\nearnings per share (1) $7.89 $6.76 $4.55 $4.51 $4.54\nCash flow from operations $325M $352M $205M $182M $170M\nYear Ended June 30\n2022 2021 2020 2019 2018\n$247M $232M $271M $166M $182M\n$2,295M $2,263M $2,028M $1,884M $1,593M\n$248M $354M $344M $502M $339M\n$1,701M $1,571M $1,381M $1,166M $1,079M\n39,160M 38,955M 38,453M 37,934M 37,608M\n41,029M 40,483M 39,401M 38,892M 38,055M",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000167_revenue_growth",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "1106m, prior year 931m",
      "golden_context": "Page 12:\n\ninancial\nPerformance\nin Fiscal 2022\nWe have designed and built a company based on a subsidiary\nmodel approach which is a highly differentiated portfolio of over a\ndozen product platforms spread across five divisions. Many of these\nplatforms could be their own stand-alone companies. Most make\nmoney! Still, all of these are within our two operating segments,\nProtein Sciences and Diagnostics and Genomics. One usually does\nthis for mitigating risk so that at any one time not all can be in a\ndown cycle. This in my experience works well from an organizational\ndesign perspective, because you “divide and grow”. It is also good\noperationally and can smooth out the lumps, so to speak.\n(1) Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization\nof acquisition intangibles, acquisition related expenses inclusive of the changes in fair value of contingent\nconsideration, the revenues and expenses attributable to partially-owned consolidated subsidiaries, and\nother non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains.\nAdjusted net earnings and earnings per share for fiscal 2021 have been updated for comparability to fiscal\n2022 for the inclusion of the impact of partially-owned consolidated subsidiaries on the Company’s adjusted\nconsolidated net earnings and earnings per share. See Item 7 of the Company’s Annual Report on From 10-K,\nfollowing, for further details.\n(In thousands)\nCash, cash equivalents and\navailable-for-sale investments Total assets Long term debt obligations (1) Total Stockholder's equity Common shares outstanding Weighted-average common\nshares outstanding - diluted (1) Includes long-term contingent considerations payable.\n(In thousands, except\nper share data)\nYear Ended June 30\n2022 2021 2020 2019 2018\nNet Sales $1,106M $931M $739M $714M $643M\nAdjusted net earnings (1) $324M $274M $179M $175M $173M\nAdjusted diluted\nearnings per share (1) $7.89 $6.76 $4.55 $4.51 $4.54\nCash flow from operations $325M $352M $205M $182M $170M\nYear Ended June 30\n2022 2021 2020 2019 2018\n$247M $232M $271M $166M $182M\n$2,295M $2,263M $2,028M $1,884M $1,593M\n$248M $354M $344M $502M $339M\n$1,701M $1,571M $1,381M $1,166M $1,079M\n39,160M 38,955M 38,453M 37,934M 37,608M\n41,029M 40,483M 39,401M 38,892M 38,055M",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000167_segments",
      "report_id": "ID_000167",
      "company_name": "Bio-Techne",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Protein Sciences and Diagnostics and Genomics",
      "golden_context": "Page 12:\n\nWe have designed and built a company based on a subsidiary\nmodel approach which is a highly differentiated portfolio of over a\ndozen product platforms spread across five divisions. Many of these\nplatforms could be their own stand-alone companies. Most make\nmoney! Still, all of these are within our two operating segments,\nProtein Sciences and Diagnostics and Genomics. One usually does\nthis for mitigating risk so that at any one time not all can be in a\ndown cycle. This in my experience works well from an organizational\ndesign perspective, because you “divide and grow”. It is also good\noperationally and can smooth out the lumps, so to speak.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_cash_flow",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "254m cash flow from operations",
      "golden_context": "Page 12:\n\nFinancial\nPerformance\n// in Fiscal 2023\nHighlights of our Fiscal Financial 2023 performance:\nAdjusted net earnings were $321.5 MM compared to $323.5 MM in the prior year.\nAdjusted earnings per share were $1.99, compared to $1.97 last year., despite\ncurrency exchange unfavorably impacting earnings per share by $0.08, or 4%.\nOverall, revenue increased 3% to $1,137 MM. Organic revenue was 5% over the\nprior year, with currency translation having a negative impact of 2% and acquisitions\ncontributing an immaterial amount to revenue growth.\nAdjusted operating margins for the year were 36.1%, compared to 38.3% in the\nprior year, resulting from unfavorable foreign currency exchange and strategic\ninvestments to accelerate growth in the business.\nCash from operations was $254.4 MM\nfor the year. We returned $50.3 MM to our\nshareholders in the form of dividends.\nSuccessful execution in our long-term\nstrategic growth platforms with record\nperformance in our ExoDx prostate test\nand GMP proteins.\n(In thousands, except per share data) YEAR ENDED JUNE 30\n2023 2022 2021 2020 2019\nNet Sales $1,137M $1,106M $931M $739M $714M\nAdjusted net earnings1 $321M $324M $274M $179M $175M\nAdjusted diluted earnings per share1,2 $1.99 $1.97 $1.69 $1.14 $1.13\nCash flow from operations $254M $325M $352M $205M $182M\n1. Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, acquisition related\nexpenses inclusive of the changes in fair value of contingent consideration, the revenues and expenses attributable to partially-owned consolidated\nsubsidiaries, and other non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains. Adjusted net earnings and\nearnings per share for fiscal 2021 have been updated for comparability to fiscal 2022 for the inclusion of the impact of partially-owned consolidated\nsubsidiaries on the Company's adjusted consolidated net earnings and earnings per share. See Item 7 of the Company's Annual Report on From 10-K,\nfollowing, for further details.\n2. Prior period results have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend on November 29,2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_company_type",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 19:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2023, or\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period\nfrom to\nCommission file number 0-17272\nBIO-TECHNE CORPORATION\n(Exact name of registrant as specified in its charter)\nMinnesota 41-1427402\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n614 McKinley Place N.E.\n(Address of principal executive offices) (Zip Code) Minneapolis, MN 55413 (612) 379-8854\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.01 par value Trading Symbol(s) TECH Name of each exchange on which registered\nThe NASDAQ Stock Market LLC\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required\nto file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements\nincorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated\nfiler,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the\nExchange Act. ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statement of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-base",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_key_financials",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "1137m, prior year 1106m, adjusted diluted EPS: 1.99",
      "golden_context": "Page 12:\n\nFinancial\nPerformance\n// in Fiscal 2023\nHighlights of our Fiscal Financial 2023 performance:\nAdjusted net earnings were $321.5 MM compared to $323.5 MM in the prior year.\nAdjusted earnings per share were $1.99, compared to $1.97 last year., despite\ncurrency exchange unfavorably impacting earnings per share by $0.08, or 4%.\nOverall, revenue increased 3% to $1,137 MM. Organic revenue was 5% over the\nprior year, with currency translation having a negative impact of 2% and acquisitions\ncontributing an immaterial amount to revenue growth.\nAdjusted operating margins for the year were 36.1%, compared to 38.3% in the\nprior year, resulting from unfavorable foreign currency exchange and strategic\ninvestments to accelerate growth in the business.\nCash from operations was $254.4 MM\nfor the year. We returned $50.3 MM to our\nshareholders in the form of dividends.\nSuccessful execution in our long-term\nstrategic growth platforms with record\nperformance in our ExoDx prostate test\nand GMP proteins.\n(In thousands, except per share data) YEAR ENDED JUNE 30\n2023 2022 2021 2020 2019\nNet Sales $1,137M $1,106M $931M $739M $714M\nAdjusted net earnings1 $321M $324M $274M $179M $175M\nAdjusted diluted earnings per share1,2 $1.99 $1.97 $1.69 $1.14 $1.13\nCash flow from operations $254M $325M $352M $205M $182M\n1. Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, acquisition related\nexpenses inclusive of the changes in fair value of contingent consideration, the revenues and expenses attributable to partially-owned consolidated\nsubsidiaries, and other non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains. Adjusted net earnings and\nearnings per share for fiscal 2021 have been updated for comparability to fiscal 2022 for the inclusion of the impact of partially-owned consolidated\nsubsidiaries on the Company's adjusted consolidated net earnings and earnings per share. See Item 7 of the Company's Annual Report on From 10-K,\nfollowing, for further details.\n2. Prior period results have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend on November 29,2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_revenue",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "1137m",
      "golden_context": "Page 12:\n\nFinancial\nPerformance\n// in Fiscal 2023\nHighlights of our Fiscal Financial 2023 performance:\nAdjusted net earnings were $321.5 MM compared to $323.5 MM in the prior year.\nAdjusted earnings per share were $1.99, compared to $1.97 last year., despite\ncurrency exchange unfavorably impacting earnings per share by $0.08, or 4%.\nOverall, revenue increased 3% to $1,137 MM. Organic revenue was 5% over the\nprior year, with currency translation having a negative impact of 2% and acquisitions\ncontributing an immaterial amount to revenue growth.\nAdjusted operating margins for the year were 36.1%, compared to 38.3% in the\nprior year, resulting from unfavorable foreign currency exchange and strategic\ninvestments to accelerate growth in the business.\nCash from operations was $254.4 MM\nfor the year. We returned $50.3 MM to our\nshareholders in the form of dividends.\nSuccessful execution in our long-term\nstrategic growth platforms with record\nperformance in our ExoDx prostate test\nand GMP proteins.\n(In thousands, except per share data) YEAR ENDED JUNE 30\n2023 2022 2021 2020 2019\nNet Sales $1,137M $1,106M $931M $739M $714M\nAdjusted net earnings1 $321M $324M $274M $179M $175M\nAdjusted diluted earnings per share1,2 $1.99 $1.97 $1.69 $1.14 $1.13\nCash flow from operations $254M $325M $352M $205M $182M\n1. Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, acquisition related\nexpenses inclusive of the changes in fair value of contingent consideration, the revenues and expenses attributable to partially-owned consolidated\nsubsidiaries, and other non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains. Adjusted net earnings and\nearnings per share for fiscal 2021 have been updated for comparability to fiscal 2022 for the inclusion of the impact of partially-owned consolidated\nsubsidiaries on the Company's adjusted consolidated net earnings and earnings per share. See Item 7 of the Company's Annual Report on From 10-K,\nfollowing, for further details.\n2. Prior period results have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend on November 29,2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_revenue_growth",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "1137m, prior year 1106m",
      "golden_context": "Page 12:\n\nFinancial\nPerformance\n// in Fiscal 2023\nHighlights of our Fiscal Financial 2023 performance:\nAdjusted net earnings were $321.5 MM compared to $323.5 MM in the prior year.\nAdjusted earnings per share were $1.99, compared to $1.97 last year., despite\ncurrency exchange unfavorably impacting earnings per share by $0.08, or 4%.\nOverall, revenue increased 3% to $1,137 MM. Organic revenue was 5% over the\nprior year, with currency translation having a negative impact of 2% and acquisitions\ncontributing an immaterial amount to revenue growth.\nAdjusted operating margins for the year were 36.1%, compared to 38.3% in the\nprior year, resulting from unfavorable foreign currency exchange and strategic\ninvestments to accelerate growth in the business.\nCash from operations was $254.4 MM\nfor the year. We returned $50.3 MM to our\nshareholders in the form of dividends.\nSuccessful execution in our long-term\nstrategic growth platforms with record\nperformance in our ExoDx prostate test\nand GMP proteins.\n(In thousands, except per share data) YEAR ENDED JUNE 30\n2023 2022 2021 2020 2019\nNet Sales $1,137M $1,106M $931M $739M $714M\nAdjusted net earnings1 $321M $324M $274M $179M $175M\nAdjusted diluted earnings per share1,2 $1.99 $1.97 $1.69 $1.14 $1.13\nCash flow from operations $254M $325M $352M $205M $182M\n1. Excludes stock-based compensation, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, acquisition related\nexpenses inclusive of the changes in fair value of contingent consideration, the revenues and expenses attributable to partially-owned consolidated\nsubsidiaries, and other non-recurring items including non-recurring cots, goodwill and long-lived asset impairments, and gains. Adjusted net earnings and\nearnings per share for fiscal 2021 have been updated for comparability to fiscal 2022 for the inclusion of the impact of partially-owned consolidated\nsubsidiaries on the Company's adjusted consolidated net earnings and earnings per share. See Item 7 of the Company's Annual Report on From 10-K,\nfollowing, for further details.\n2. Prior period results have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend on November 29,2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000168_segments",
      "report_id": "ID_000168",
      "company_name": "Bio-Techne",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Protein Sciences and Diagnostics and Genomics",
      "golden_context": "Page 24:\n\nWe manage the business in two operating segments – our Protein Sciences segment and our Diagnostics and Genomics segment. Our Protein Sciences\nsegment is a leading developer and manufacturer of high-quality biological reagents used in all aspects of life science research, diagnostics and cell and\ngene therapy. This segment also includes proteomic analytical tools, both manual and automated, that offer researchers and pharmaceutical\nmanufacturers efficient and streamlined options for automated western blot and multiplexed ELISA workflow. Our Diagnostics and Genomics segment\ndevelops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for the regulated diagnostics market, exosome-\nbased molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and\noncology kits for research and clinical applications.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_cash_flow",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "1.26bn free cash flow",
      "golden_context": "Page 5:\n\ngh issuing our 2020 Environmental, Social and\nGovernance Disclosure Report as well as our 2020 Task\nForce on Climate-Related Financial Disclosures Report.\nFiscal Year 2021 Performance\nIn fiscal year 2021, we delivered $8 billion in net sales,\nexceeding several performance goals. Financial\nhighlights from the past year include:\n•\nNet sales of $8 billion, representing growth of\n3 percent.\n•\nAdjusted earnings per share was $9.12, an increase of\n4 percent.\n•\nFree cash flow was $1.26 billion, an increase of\n28 percent.\n•\nCapital returned to shareholders via cash dividends\nand share repurchases was $1.1 billion.\nF I S C A L Y E A R 2 0 2 1 A N N U A L R E P O R T\nGrowing Momentum and Confidence\nWe are proud of the results delivered in fiscal year 2021,\nbut, as always, must remain focused on building upon\nthis momentum.\nTo deliver on our business objectives, while supporting\nour continued progress to realize our long-term vision,\nI’ve outlined the following fiscal year 2022 priorities for\nour employees:\n•\nInspire, enable and empower our organization to win;\n•\nDrive best-in-class go-to-market execution and\ncommercial delivery;\n•\nRelentlessly focus on profitability and cost discipline;\n•\nContinue our portfolio optimization; and\n•\nImprove diversity across our organization and foster\nan inclusive and equitable workplace.\nWith continued success in delivering on our consumer-\ncentric growth philosophy, steady progress toward the\nrealization of our executional priorities and our talented\nemployees’ dedication to continuous improvement, I am\nconfident in our ability to build on the tremendous\nmomentum of fiscal year 2021.\nThank you to our employees, our partners and our\nshareholders. Your passion in support of our promise\nto deliver food people and pets love has allowed us to\nendure the challenges of the past year and deliver\nstrong results. With your continued commitment, I am\nexcited by the opportunities ahead in fiscal year 2022.\nMark T. Smucker\nPresident and CEO\n5\nDEAR\nSHAREHOLDERS\nFiscal 2021 was an outstanding year for our Company\nas we strengthened our competitive position and\ndelivered on our commitments to shareholders. In a\nhighly challenging and uncertain operating environment,\ndriven primarily by the COVID-19 pandemic, we delivered\nrecord sales, profits and cash flow that enabled us to\npay down debt and return to a more balanced capital\ndeployment model.\nOur strong execution was enabled by our continued\nfocus on delivering balanced top-line and bottom-line\ngrowth and responsible reinvestment to support\nsustained growth for the long-ter",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_company_type",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 8:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________________________________\nFORM 10-K\n_________________________________________________________________________________________________________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended April 30, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-5111\n_______________________________________________\nTHE J. M. SMUCKER COMPANY\n(Exact name of registrant as specified in its charter)\n______________________________________________________________________________________________________________________\nOhio 34-0538550\n(State or other jurisdiction of\nincorporation or organization)\nOne Strawberry Lane\nOrrville, Ohio 44667-0280\n(I.R.S. Employer\nIdentification No.)\n(Address of principal executive offices) (Zip code)\nName of each exchange on which registered\nNew York Stock Exchange\nRegistrant’s telephone number, including area code (330) 682-3000\nTitle of each class Common shares, no par value Securities registered pursuant to Section 12(b) of the Act:\nTrading symbol SJM Securities registered pursuant to Section 12(g) of the Act: None\n___________________________________________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act. (Check one):\nLarge Accelerated Filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by checkmark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_key_financials",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "1.26bn free cash flow, net sales of 8bn, capital returned to shareholders via cash dividends and share repurchases was 1.1bn",
      "golden_context": "Page 5:\n\ngh issuing our 2020 Environmental, Social and\nGovernance Disclosure Report as well as our 2020 Task\nForce on Climate-Related Financial Disclosures Report.\nFiscal Year 2021 Performance\nIn fiscal year 2021, we delivered $8 billion in net sales,\nexceeding several performance goals. Financial\nhighlights from the past year include:\n•\nNet sales of $8 billion, representing growth of\n3 percent.\n•\nAdjusted earnings per share was $9.12, an increase of\n4 percent.\n•\nFree cash flow was $1.26 billion, an increase of\n28 percent.\n•\nCapital returned to shareholders via cash dividends\nand share repurchases was $1.1 billion.\nF I S C A L Y E A R 2 0 2 1 A N N U A L R E P O R T\nGrowing Momentum and Confidence\nWe are proud of the results delivered in fiscal year 2021,\nbut, as always, must remain focused on building upon\nthis momentum.\nTo deliver on our business objectives, while supporting\nour continued progress to realize our long-term vision,\nI’ve outlined the following fiscal year 2022 priorities for\nour employees:\n•\nInspire, enable and empower our organization to win;\n•\nDrive best-in-class go-to-market execution and\ncommercial delivery;\n•\nRelentlessly focus on profitability and cost discipline;\n•\nContinue our portfolio optimization; and\n•\nImprove diversity across our organization and foster\nan inclusive and equitable workplace.\nWith continued success in delivering on our consumer-\ncentric growth philosophy, steady progress toward the\nrealization of our executional priorities and our talented\nemployees’ dedication to continuous improvement, I am\nconfident in our ability to build on the tremendous\nmomentum of fiscal year 2021.\nThank you to our employees, our partners and our\nshareholders. Your passion in support of our promise\nto deliver food people and pets love has allowed us to\nendure the challenges of the past year and deliver\nstrong results. With your continued commitment, I am\nexcited by the opportunities ahead in fiscal year 2022.\nMark T. Smucker\nPresident and CEO\n5\nDEAR\nSHAREHOLDERS\nFiscal 2021 was an outstanding year for our Company\nas we strengthened our competitive position and\ndelivered on our commitments to shareholders. In a\nhighly challenging and uncertain operating environment,\ndriven primarily by the COVID-19 pandemic, we delivered\nrecord sales, profits and cash flow that enabled us to\npay down debt and return to a more balanced capital\ndeployment model.\nOur strong execution was enabled by our continued\nfocus on delivering balanced top-line and bottom-line\ngrowth and responsible reinvestment to support\nsustained growth for the long-ter",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_revenue",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "8002.7m",
      "golden_context": "Page 36:\n\nhe following table reconciles segment profit to income before income taxes and presents total assets, total depreciation,\namortization, and impairment charges, and total additions to property, plant, and equipment by segment.\nYear Ended April 30,\n2021 2020 2019\nNet sales:\nU.S. Retail Pet Foods $ 2,844.5 $ 2,869.5 $ 2,879.5\nU.S. Retail Coffee 2,374.6 2,149.5 2,122.3\nU.S. Retail Consumer Foods 1,835.7 1,731.7 1,761.5\nInternational and Away From Home 947.9 1,050.3 1,074.7\nTotal net sales $ 8,002.7 $ 7,801.0 $ 7,838.0\nSegment profit:\nU.S. Retail Pet Foods $ 487.0 $ 552.7 $ 503.4\nU.S. Retail Coffee 769.1 691.0 676.3\nU.S. Retail Consumer Foods 472.5 389.7 378.4\nInternational and Away From Home 124.1 173.4 198.5\nTotal segment profit $ 1,852.7 $ 1,806.8 $ 1,756.6\nAmortization (233.0) (236.3) (240.3)\nGoodwill impairment charge — — (97.9)\nOther intangible assets impairment charges (3.8) (52.4) (107.2)\nGain on divestitures – net 25.3 — 27.7\nInterest expense – net (177.1) (189.2) (207.9)\nUnallocated derivative gains (losses) 93.6 19.6 (54.2)\nCost of products sold – special project costs (A) (3.4) — —\nOther special project costs (A) (20.7) (16.5) (64.1)\nCorporate administrative expenses (323.9) (298.1) (292.0)\nOther income (expense) – net (37.8) (7.2) (19.1)\nIncome before income taxes $ 1,171.9 $ 1,026.7 $ 701.6\nAssets:\nU.S. Retail Pet Foods $ 7,480.8 $ 7,731.4 $ 7,847.0\nU.S. Retail Coffee 4,793.9 4,787.4 4,771.9\nU.S. Retail Consumer Foods 2,553.4 2,873.1 2,850.8\nInternational and Away From Home 1,013.8 1,048.0 1,019.5\nUnallocated (B) 442.3 530.5 222.1\nTotal assets $ 16,284.2 $ 16,970.4 $ 16,711.3\nDepreciation, amortization, and impairment charges:\nU.S. Retail Pet Foods $ 194.8 $ 243.0 $ 301.4\nU.S. Retail Coffee 96.7 96.4 98.3\nU.S. Retail Consumer Foods 75.4 72.5 162.4\nInternational and Away From Home 50.2 51.9 52.8\nUnallocated (C) 39.2 35.1 36.5\nTotal depreciation, amortization, and impairment charges $ 456.3 $ 498.9 $ 651.4\nAdditions to property, plant, and equipment:\nU.S. Retail Pet Foods $ 72.4 $ 60.1 $ 136.0\nU.S. Retail Coffee 42.5 62.4 63.9\nU.S. Retail Consumer Foods 167.4 107.7 138.9\nInternational and Away From Home 24.4 39.1 21.0\nTotal additions to property, plant, and equipment $ 306.7 $ 269.3 $ 359.8\n(A) (B) (C) Special project costs include integration and restructuring costs. For more information, see Note 3: Inte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_revenue_growth",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8002.7m, prior year 7801.0m",
      "golden_context": "Page 36:\n\nhe following table reconciles segment profit to income before income taxes and presents total assets, total depreciation,\namortization, and impairment charges, and total additions to property, plant, and equipment by segment.\nYear Ended April 30,\n2021 2020 2019\nNet sales:\nU.S. Retail Pet Foods $ 2,844.5 $ 2,869.5 $ 2,879.5\nU.S. Retail Coffee 2,374.6 2,149.5 2,122.3\nU.S. Retail Consumer Foods 1,835.7 1,731.7 1,761.5\nInternational and Away From Home 947.9 1,050.3 1,074.7\nTotal net sales $ 8,002.7 $ 7,801.0 $ 7,838.0\nSegment profit:\nU.S. Retail Pet Foods $ 487.0 $ 552.7 $ 503.4\nU.S. Retail Coffee 769.1 691.0 676.3\nU.S. Retail Consumer Foods 472.5 389.7 378.4\nInternational and Away From Home 124.1 173.4 198.5\nTotal segment profit $ 1,852.7 $ 1,806.8 $ 1,756.6\nAmortization (233.0) (236.3) (240.3)\nGoodwill impairment charge — — (97.9)\nOther intangible assets impairment charges (3.8) (52.4) (107.2)\nGain on divestitures – net 25.3 — 27.7\nInterest expense – net (177.1) (189.2) (207.9)\nUnallocated derivative gains (losses) 93.6 19.6 (54.2)\nCost of products sold – special project costs (A) (3.4) — —\nOther special project costs (A) (20.7) (16.5) (64.1)\nCorporate administrative expenses (323.9) (298.1) (292.0)\nOther income (expense) – net (37.8) (7.2) (19.1)\nIncome before income taxes $ 1,171.9 $ 1,026.7 $ 701.6\nAssets:\nU.S. Retail Pet Foods $ 7,480.8 $ 7,731.4 $ 7,847.0\nU.S. Retail Coffee 4,793.9 4,787.4 4,771.9\nU.S. Retail Consumer Foods 2,553.4 2,873.1 2,850.8\nInternational and Away From Home 1,013.8 1,048.0 1,019.5\nUnallocated (B) 442.3 530.5 222.1\nTotal assets $ 16,284.2 $ 16,970.4 $ 16,711.3\nDepreciation, amortization, and impairment charges:\nU.S. Retail Pet Foods $ 194.8 $ 243.0 $ 301.4\nU.S. Retail Coffee 96.7 96.4 98.3\nU.S. Retail Consumer Foods 75.4 72.5 162.4\nInternational and Away From Home 50.2 51.9 52.8\nUnallocated (C) 39.2 35.1 36.5\nTotal depreciation, amortization, and impairment charges $ 456.3 $ 498.9 $ 651.4\nAdditions to property, plant, and equipment:\nU.S. Retail Pet Foods $ 72.4 $ 60.1 $ 136.0\nU.S. Retail Coffee 42.5 62.4 63.9\nU.S. Retail Consumer Foods 167.4 107.7 138.9\nInternational and Away From Home 24.4 39.1 21.0\nTotal additions to property, plant, and equipment $ 306.7 $ 269.3 $ 359.8\n(A) (B) (C) Special project costs include integration and restructuring costs. For more information, see Note 3: Inte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000169_segments",
      "report_id": "ID_000169",
      "company_name": "The JM Smucker Co",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "U.S Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods",
      "golden_context": "Page 9:\n\ne have three reportable segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. Effective\nduring the first quarter of 2021, the presentation of International and Away From Home represents a combination of all other\noperating segments that are not individually reportable. As a result of leadership changes, these operating segments are being\nmanaged and reported separately and no longer represent a reportable segment for segment reporting purposes. Segment\nresults for prior periods have not been modified, as the combination of these operating segments represents the previously\nreported International and Away From Home reportable segment. The U.S. retail market segments in total comprised\n88 percent of 2021 consolidated net sales and represent a major portion of our strategic focus – the sale of branded food and\nbeverage products with leadership positions to consumers through retail outlets in North America. International and Away\nFrom Home represents sales outside of the U.S. retail market segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000170_cash_flow",
      "report_id": "ID_000170",
      "company_name": "The JM Smucker Co",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating 1136.3m, investing -355.5m, financing, -944.5m",
      "golden_context": "Page 24:\n\nrease for the International operating segment. Favorable volume/mix for the combined businesses contributed 6\npercentage points to net sales, primarily driven by increases for portion control and coffee products in the away from home\nchannels, partially offset by a decrease for baking mixes and ingredients in the International operating segment. Net price\nrealization contributed a 3 percentage point increase to net sales for the combined businesses, primarily driven by increases\nfor coffee products in the away from home channels and fruit spread products in the International operating segment.\nSegment profit increased $17.9, primarily reflecting higher net pricing, favorable volume/mix, and the favorable foreign\ncurrency exchange impact, partially offset by increased commodity costs and the noncomparable segment profit in the prior\nyear related to the divested businesses.\nLIQUIDITY AND CAPITAL RESOURCES\nLiquidity\nOur principal source of funds is cash generated from operations, supplemented by borrowings against our commercial paper\nprogram and revolving credit facility. Total cash and cash equivalents decreased to $169.9 at April 30, 2022, compared to\n$334.3 at April 30, 2021.\nThe following table presents selected cash flow information.\nNet cash provided by (used for) operating activities Net cash provided by (used for) investing activities Net cash provided by (used for) financing activities Year Ended April 30,\n2022 2021\n$ 1,136.3 $ 1,565.0\n(355.5) 311.1\n(944.5) (1,943.9)\nNet cash provided by (used for) operating activities Additions to property, plant, and equipment Free cash flow (A) $ 1,136.3 $ 1,565.0\n(417.5) (306.7)\n$ 718.8 $ 1,258.3\n(A) Free cash flow is a non-GAAP financial measure used by management to evaluate the amount of cash available for debt repayment,\ndividend distribution, acquisition opportunities, share repurchases, and other corporate purposes.\nThe $428.7 decrease in cash provided by operating activities in 2022 was primarily driven by greater working capital\nrequirements in 2022, as well as lower net income adjusted for noncash items in the current year. The increase in cash\nrequired to fund working capital, as compared to the prior ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000170_company_type",
      "report_id": "ID_000170",
      "company_name": "The JM Smucker Co",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 8:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________________________________\nFORM 10-K\n_________________________________________________________________________________________________________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended April 30, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-5111\n_______________________________________________\nTHE J. M. SMUCKER COMPANY\n(Exact name of registrant as specified in its charter)\n______________________________________________________________________________________________________________________\nOhio 34-0538550\n(State or other jurisdiction of\nincorporation or organization)\nOne Strawberry Lane\nOrrville, Ohio 44667-0280\n(I.R.S. Employer\nIdentification No.)\n(Address of principal executive offices) (Zip code)\nName of each exchange on which registered\nNew York Stock Exchange\nRegistrant’s telephone number, including area code (330) 682-3000\nTitle of each class Common shares, no par value Securities registered pursuant to Section 12(b) of the Act:\nTrading symbol SJM Securities registered pursuant to Section 12(g) of the Act: None\n___________________________________________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act. (Check one):\nLarge Accelerated Filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by checkmark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the common shares held by nonaffiliates of the registrant at October 31, 2021, was $1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000170_key_financials",
      "report_id": "ID_000170",
      "company_name": "The JM Smucker Co",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 7998.9m, net income 631.7m",
      "golden_context": "Page 33:\n\nTHE J. M. SMUCKER COMPANY\nSTATEMENTS OF CONSOLIDATED INCOME\nYear Ended April 30,\n(Dollars in millions, except per share data) 2022 2021 2020\nNet sales $ 7,998.9 $ 8,002.7 $ 7,801.0\nCost of products sold (A) 5,298.2 4,864.0 4,799.0\nGross Profit 2,700.7 3,138.7 3,002.0\nSelling, distribution, and administrative expenses 1,360.3 1,523.1 1,474.3\nAmortization 223.6 233.0 236.3\nOther intangible assets impairment charges 150.4 3.8 52.4\nOther special project costs (A) 8.0 20.7 16.5\nOther operating expense (income) – net (65.4) (28.7) (0.6)\nOperating Income 1,023.8 1,386.8 1,223.1\nInterest expense – net (160.9) (177.1) (189.2)\nOther income (expense) – net (19.1) (37.8) (7.2)\nIncome Before Income Taxes 843.8 1,171.9 1,026.7\nIncome tax expense 212.1 295.6 247.2\nNet Income $ 631.7 $ 876.3 $ 779.5\nEarnings per common share:\nNet Income Net Income – Assuming Dilution $ 5.84 $ 7.79 $ 6.84\n$ 5.83 $ 7.79 $ 6.84\n(A) Special project costs include certain divestiture, acquisition, integration, and restructuring costs, which are recognized in cost of\nproducts sold and other special project costs. For more information, see Note 2: Integration and Restructuring Costs and Note 4:\nReportable Segments.\nSee notes to consolidated financial statements.\nTHE J. M. SMUCKER COMPANY\nSTATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME\nYear Ended April 30,\n(Dollars in millions) 2022 2021 2020\nNet income $ 631.7 $ 876.3 $ 779.5\nOther comprehensive income (loss):\nForeign currency translation adjustments (12.1) 41.5 (15.0)\nCash flow hedging derivative activity, net of tax 10.9 10.8 (145.2)\nPension and other postretirement benefit plans activity, net of tax 43.1 49.4 (36.7)\nAvailable-for-sale securities activity, net of tax (1.9) (0.1) (0.3)\nTotal Other Comprehensive Income (Loss) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000170_segments",
      "report_id": "ID_000170",
      "company_name": "The JM Smucker Co",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "U.S Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods",
      "golden_context": "Page 9:\n\nWe have three reportable segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The U.S.\nretail market segments in total comprised 87 percent of 2022 consolidated net sales and represent a major portion of our\nstrategic focus – the sale of branded food and beverage products with leadership positions to consumers through retail outlets\nin North America. International and Away From Home represents sales outside of the U.S. retail market segments. For\nadditional information on our reportable segments, see Note 4: Reportable Segments.\nOn January 31, 2022, we sold the natural beverage and grains businesses to Nexus Capi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_cash_flow",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating activities: 488.6m, \ninvesting: -31.6m, \nfinancing: -529.3m",
      "golden_context": "Page 41:\n\n2021 2020\n$ 488.6 $ 490.3\n(31.6) (56.7)\n$ (529.3) $ (321.9)\n\nincreased during the fourth quarter of 2021, and we currently expect them to continue into 2022.\nLiquidity and Capital Resources\nSources and uses of liquidity\nThe following table reflects the major categories of cash flows for the years ended December 31. For additional details, see the\nConsolidated Statements of Cash Flows in the Consolidated Financial Statements.\nIn millions Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Operating activities: Net cash provided by operating activities for the year ended December 31, 2021, was nearly flat compared\nto 2020, decreasing by $1.7 million, as increased Net earnings were offset by working capital challenges, principally stemming\nfrom the supply chain disruptions and delays and related operational and logistical interruptions discussed above.\nInvesting activities: Net cash used in investing activities for the year ended December 31, 2021, decreased $25.1 million\ncompared to 2020, primarily due to cash proceeds from the sales of our equity method investment in Nuki Home Solutions\nGmbH and other investments, as well as a decrease in cash paid for acquisitions.\nFinancing activities: Net cash used in financing activities for the year ended December 31, 2021, increased $207.4 million\ncompared to 2020, primarily due to ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_company_type",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Public Limited Company",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from to\nCommission File No. 001-35971\nALLEGION PUBLIC LIMITED COMPANY\n(Exact name of registrant as specified in its charter)\nIreland 98-1108930\n(State or other jurisdiction of incorporation or\norganization)\n(I.R.S. Employer\nIdentification No.)\nName of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nBlock D\nIveagh Court\nHarcourt Road\nDublin 2, D02 VH94, Ireland\n(Address of principal executive offices, including zip code)\n+(353) (1) 2546200\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary shares, par value $0.01 per share 3.500% Senior Notes due 2029 Trading symbols ALLE ALLE 3 ½ Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes x No ¨\nYes ¨ No x\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nIndicate by check mark whether the registrant (1) has filed all rep",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_key_financials",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 2867.4m, prior year 2719.9m, operating income 607.4m",
      "golden_context": "Page 38:\n\n that is a more meaningful measure of profit and loss upon which to base our operating decisions.\nWe define Segment operating margin as Segment operating income (loss) as a percentage of the segment's Net revenues.\nThe segment discussions that follow describe the significant factors contributing to the changes in results for each segment\nincluded in Net earnings. As previously announced, effective January 1, 2021, we combined our previous operations in EMEA\nand Asia Pacific into a new segment named Allegion International, in addition to renaming our Americas segment \"Allegion\nAmericas\". Business segment information for EMEA and Asia Pacific for the year ended December 31, 2020, has been\ncombined in the segment results of operations presented below to reflect this change in reportable segments.\nSegment Results of Operations - For the years ended December 31\nIn millions 2021 2020 % Change\nNet revenues\nAllegion Americas $ 2,072.2 $ 2,016.7 2.8 %\nAllegion International 795.2 703.2 13.1 %\nTotal $ 2,867.4 $ 2,719.9\nSegment operating income (loss)\nAllegion Americas $ 525.0 $ 580.2 (9.5) %\nAllegion International 82.4 (102.1) 180.7 %\nTotal $ 607.4 $ 478.1\nSegment operating margin\nAllegion Americas 25.3 % 28.8 %\nAllegion International 10.4 % (14.5) %\nAllegion Americas\nOur Allegion Americas segment is a leading provider of security products and solutions throughout North America, Central\nAmerica, the Caribbean and South America. The segment sells a broad range of products and solutions including, locks,\nlocksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products and access control\nsystems to end-users in commercial, institutional and residential facilities, including the education, healthcare, government,\nhospitality, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN,\nSchlage, Steelcraft, Technical Glass Products (\"TGP\") and Von Duprin.\n36\nNet revenues\ndue to the following:\nNet revenues for the year ended December 31, 2021, increased by 2.8%, or\n\n\"Page 41:\n\n2021 2020\n$ 488.6 $ 490.3\n(31.6) (56.7)\n$ (529.3) $ (321.9)\n\nincreased during the fourth quarter of 2021, and we currently expect them to continue into 2022.\nLiquidity and Capital Resources\nSources and uses of liquidity\nThe following table reflects the major categories of cash flows for the years ended December 31. For additional details, see the\nConsolidated Statements of Cash Flows in the Consolidated Financial Statements.\nIn millions Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Operating activities: Net cash provided by operating activities for the year ended December 31, 2021, was nearly flat compared\nto 2020, decreasing by $1.7 million, as increased Net earnings were offset by working capital challenges, principally stemming\nfrom the supply chain disruptions and delays and related operational and logistical interruptions discussed above.\nInvesting activities: Net cash used in investing activities for the year ended December 31, 2021, decreased $25.1 million\ncompared to 2020, primarily due to cash proceeds from the sales of our equity method investment in Nuki Home Solutions\nGmbH and other investments, as well as a decrease in cash paid for acquisitions.\nFinancing activities: Net cash used in financing activities for the year ended December 31, 2021, increased $207.4 million\ncompared to 2020, primarily due to \"",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_revenue",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net revenues 2867.4m",
      "golden_context": "Page 38:\n\n that is a more meaningful measure of profit and loss upon which to base our operating decisions.\nWe define Segment operating margin as Segment operating income (loss) as a percentage of the segment's Net revenues.\nThe segment discussions that follow describe the significant factors contributing to the changes in results for each segment\nincluded in Net earnings. As previously announced, effective January 1, 2021, we combined our previous operations in EMEA\nand Asia Pacific into a new segment named Allegion International, in addition to renaming our Americas segment \"Allegion\nAmericas\". Business segment information for EMEA and Asia Pacific for the year ended December 31, 2020, has been\ncombined in the segment results of operations presented below to reflect this change in reportable segments.\nSegment Results of Operations - For the years ended December 31\nIn millions 2021 2020 % Change\nNet revenues\nAllegion Americas $ 2,072.2 $ 2,016.7 2.8 %\nAllegion International 795.2 703.2 13.1 %\nTotal $ 2,867.4 $ 2,719.9\nSegment operating income (loss)\nAllegion Americas $ 525.0 $ 580.2 (9.5) %\nAllegion International 82.4 (102.1) 180.7 %\nTotal $ 607.4 $ 478.1\nSegment operating margin\nAllegion Americas 25.3 % 28.8 %\nAllegion International 10.4 % (14.5) %\nAllegion Americas\nOur Allegion Americas segment is a leading provider of security products and solutions throughout North America, Central\nAmerica, the Caribbean and South America. The segment sells a broad range of products and solutions including, locks,\nlocksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products and access control\nsystems to end-users in commercial, institutional and residential facilities, including the education, healthcare, government,\nhospitality, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN,\nSchlage, Steelcraft, Technical Glass Products (\"TGP\") and Von Duprin.\n36\nNet revenues\ndue to the following:\nNet revenues for the year ended December 31, 2021, increased by 2.8%, or",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_revenue_growth",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 2867.4m, prior year 2719.9m",
      "golden_context": "Page 38:\n\n that is a more meaningful measure of profit and loss upon which to base our operating decisions.\nWe define Segment operating margin as Segment operating income (loss) as a percentage of the segment's Net revenues.\nThe segment discussions that follow describe the significant factors contributing to the changes in results for each segment\nincluded in Net earnings. As previously announced, effective January 1, 2021, we combined our previous operations in EMEA\nand Asia Pacific into a new segment named Allegion International, in addition to renaming our Americas segment \"Allegion\nAmericas\". Business segment information for EMEA and Asia Pacific for the year ended December 31, 2020, has been\ncombined in the segment results of operations presented below to reflect this change in reportable segments.\nSegment Results of Operations - For the years ended December 31\nIn millions 2021 2020 % Change\nNet revenues\nAllegion Americas $ 2,072.2 $ 2,016.7 2.8 %\nAllegion International 795.2 703.2 13.1 %\nTotal $ 2,867.4 $ 2,719.9\nSegment operating income (loss)\nAllegion Americas $ 525.0 $ 580.2 (9.5) %\nAllegion International 82.4 (102.1) 180.7 %\nTotal $ 607.4 $ 478.1\nSegment operating margin\nAllegion Americas 25.3 % 28.8 %\nAllegion International 10.4 % (14.5) %\nAllegion Americas\nOur Allegion Americas segment is a leading provider of security products and solutions throughout North America, Central\nAmerica, the Caribbean and South America. The segment sells a broad range of products and solutions including, locks,\nlocksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products and access control\nsystems to end-users in commercial, institutional and residential facilities, including the education, healthcare, government,\nhospitality, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN,\nSchlage, Steelcraft, Technical Glass Products (\"TGP\") and Von Duprin.\n36\nNet revenues\ndue to the following:\nNet revenues for the year ended December 31, 2021, increased by 2.8%, or",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000172_segments",
      "report_id": "ID_000172",
      "company_name": "Allegion",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Allegion Americas and Allegion International",
      "golden_context": "Page 7:\n\nWe operate in and report financial results for two segments: Allegion Americas and Allegion International, the latter of which\nprovides security products, services and solutions primarily throughout Europe, Asia and Oceania. We sell our products and\nsolutions under the following brands:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_cash_flow",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating 459.5m, investing -994.1m, financing 437.0m\n",
      "golden_context": "Page 38:\n\nrations, existing cash balances and unused availability under the 2021 Revolving Facility, as of\nDecember 31, 2022, we expect cash flows from operations to be sufficient to maintain a sound financial position and liquidity\nand to meet our financing needs for at least the next 12 months. Further, we do not anticipate any covenant compliance\nchallenges with any of our outstanding indebtedness for at least the next 12 months. We also believe existing availability under\nthe 2021 Credit Facilities and access to credit and capital markets are sufficient to achieve our longer-term strategic plans.\nThe following table reflects the major categories of cash flows for the years ended December 31. For additional details, see the\nConsolidated Statements of Cash Flows in the Consolidated Financial Statements.\nIn millions 2022 2021\nNet cash provided by operating activities $ 459.5 $ 488.6\nNet cash used in investing activities (994.1) (31.6)\nNet cash provided by (used in) financing activities $ 437.0 $ (529.3)\nOperating activities: Net cash provided by operating activities for the year ended December 31, 2022, decreased by $29.1\nmillion compared to 2021, driven primarily by changes in working capital.\nInvesting activities: Net cash used in investing activities for the year ended December 31, 2022, increased by $962.5 million\ncompared to 2021, primarily due to $923.1 million of cash paid for our acquisition of the Access Technologies business, as well\nas an increase of $18.6 million in capital expenditures compared to 2021.\nFinancing activities: Net cash provided by (used in) financing activities for the year ended December 31, 2022, changed by\n$966.3 million compared to 2021, primarily due to the $600.0 million issuance of our 5.411% Senior Notes to help finance the\nacquisition of the Access Tech",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_company_type",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Public LImited Company",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from to\nCommission File No. 001-35971\nALLEGION PUBLIC LIMITED COMPANY\n(Exact name of registrant as specified in its charter)\nIreland 98-1108930\n(State or other jurisdiction of incorporation or\norganization)\n(I.R.S. Employer\nIdentification No.)\nName of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nBlock D\nIveagh Court\nHarcourt Road\nDublin 2, D02 VH94, Ireland\n(Address of principal executive offices, including zip code)\n+(353) (1) 2546200\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary shares, par value $0.01 per share 3.500% Senior Notes due 2029 Trading symbols ALLE ALLE 3 ½ Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes x No ¨\nYes ¨ No x\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nIndicate by check mark whether the registrant ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_key_financials",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Operating income 586.4m, net earnings attributable to Allegion plc 458.0m, diluted net earnings per ordinary share attributable to Allegion plc ordinary shareholders $5.19\n",
      "golden_context": "Page 33:\nResults of Operations - For the years ended December 31\nNet revenues Cost of goods sold Selling and administrative expenses Operating income Interest expense Loss on divestitures Other income, net Earnings before income taxes Provision for income taxes Net earnings Less: Net earnings attributable to noncontrolling interests Net earnings attributable to Allegion plc $ Diluted net earnings per ordinary share attributable to Allegion\nplc ordinary shareholders: $ 5.19 $ 5.34\nDollar amounts in millions, except per share amounts % of Net\n2022\nrevenues 2021\n% of Net\nrevenues\n$ 3,271.9 $ 2,867.4\n1,949.5 59.6 % 1,662.5 58.0 %\n736.0 22.5 % 674.7 23.5 %\n586.4 17.9 % 530.2 18.5 %\n75.9 50.2\n7.6 —\n(11.6) (44.0)\n514.5 524.0\n56.2 40.7\n458.3 483.3\n0.3 0.3\n458.0 $ 483.0\nThe discussions that follow describe the significant factors contributing to the changes in our results of operations for the years\npresented and form the basis used by management to evaluate the financial performance of the business. For a discussion of our\nresults of operations for the year ended December 31, 2021, compared to the year ended December 31, 2020, see “Part II, Item\n7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2021 Annual Report on\nForm 10-K filed with the SEC on February 15, 2022.\nNet Revenues\nNet revenues for the year ended December 31, 2022, increased by 14.1%, or $404.5 million, as compared to the year ended\nDecember 31, 2021, due to the following:\nPricing 9.8 %\nVolume Acquisitions / divestitu\n\nPage 12:\n\nrity needs and help commercial and institutional end-users fulfill and install orders. We also sell through a\nvariety of retail channels, including large do-it-yourself home improvement centers, multiple online and e-commerce platforms,\nas well as small, specialty showroom outlets. We work with our retail partners on developing marketing and merchandising\nstrategies to maximize their sales per square foot of shelf space. Through a few of our businesses, most notably our Access\nTechnologies business, Interflex and our Global Portable Security brands, we also provide products and services directly to\nend-users.\nOur 10 largest customers represented approximately 26% of our total Net revenues in 2022. No single customer represented\n10% or more of our total Net revenues in 2022.\n9\nSales and Marketing\nIn markets where we sell through commercial and institutional distribution channels, we employ sales professionals around the\nworld who work with a combination of end-users, security professionals, architects, contractors, engineers and distribution\npartners to develop specific, custom-configured solutions for our end-users’ needs. Our field sales professionals are assisted by\nspecification writers who work with architects, engineers and consultants to help design door openings and security systems to\nmeet end-users’ functional, aesthetic and regulatory requirements. Both groups are supported by dedicated customer care and\ntechnical sales-support specialists worldwide. We also support our sales efforts with a variety of marketing efforts, including\ntrade-specific advertising, cooperative distributor merchandising, digital marketing and marketing at a variety of industry trade\nshows.\nIn markets in which we sell through retail and home-builder distribution channels, we have teams of sales, merchandising and\nmarketing professionals who help drive brand and product awareness through our channel partners and to consumers. We\nutilize a variety of advertising and marketing strategies, including traditional consumer media, retail merchandising, digital\nmarketing, retail promotions and builder and consumer tr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_revenue",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3271.9m",
      "golden_context": "Page 36:\n\negment Results of Operations - For the years ended December 31\nIn millions\n2022 2021 % Change\nNet revenues\nAllegion Americas $ 2,551.6 $ 2,072.2 23.1 %\nAllegion International 720.3 795.2 (9.4) %\nTotal $ 3,271.9 $ 2,867.4\nSegment operating income\nAllegion Americas $ 613.3 $ 525.0 16.8 %\nAllegion International 68.3 82.4 (17.1) %\nTotal $ 681.6 $ 607.4\nSegment operating margin\nAllegion Americas 24.0 % 25.3 %\nAllegion International 9.5 % 10.4 %\nAllegion Americas\nOur Allegion Americas segment is a leading provider of security products, services and solutions throughout North America.\nThe segment sells a broad range of products and solutions including, locks, locksets, portable locks, key systems, door controls\nand systems, exit devices, doors, accessories, electronic security products, access control systems and software and service\nsolutions to customers in commercial, institutional and residential facilities, including the education, healthcare, government,\nhospitality, retail, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN,\nSchlage, Von Duprin and Stanley Access Technologies, which we utilize with permission in accordance with the terms of the\nAccess Technologies acquisition agreement (\"Stanley\" is the property of Stanley Logistics L.L.C).\nNet revenues\nNet revenues for the year ended December 31, 2022, increased by 23.1%, or $479.4 million, as compared to the year ended\nDecember 31, 2021, due to the following:\nPricing 11.4 %\nVolume 3.0 %\nAcquisitions 9.0 %\nCurrency exchange rates (0.3) %\nTotal 23.1 %\nThe increase in Net revenues was driven by significantly improved pricing, higher volumes for our non-residential products and\nour Access Technologies business acquisition. These increases were partially offset by unfavorable foreign currency exchange\nrate movements and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_revenue_growth",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "3271.9m, 2867.4m prior year",
      "golden_context": "Page 36:\n\negment Results of Operations - For the years ended December 31\nIn millions\n2022 2021 % Change\nNet revenues\nAllegion Americas $ 2,551.6 $ 2,072.2 23.1 %\nAllegion International 720.3 795.2 (9.4) %\nTotal $ 3,271.9 $ 2,867.4\nSegment operating income\nAllegion Americas $ 613.3 $ 525.0 16.8 %\nAllegion International 68.3 82.4 (17.1) %\nTotal $ 681.6 $ 607.4\nSegment operating margin\nAllegion Americas 24.0 % 25.3 %\nAllegion International 9.5 % 10.4 %\nAllegion Americas\nOur Allegion Americas segment is a leading provider of security products, services and solutions throughout North America.\nThe segment sells a broad range of products and solutions including, locks, locksets, portable locks, key systems, door controls\nand systems, exit devices, doors, accessories, electronic security products, access control systems and software and service\nsolutions to customers in commercial, institutional and residential facilities, including the education, healthcare, government,\nhospitality, retail, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN,\nSchlage, Von Duprin and Stanley Access Technologies, which we utilize with permission in accordance with the terms of the\nAccess Technologies acquisition agreement (\"Stanley\" is the property of Stanley Logistics L.L.C).\nNet revenues\nNet revenues for the year ended December 31, 2022, increased by 23.1%, or $479.4 million, as compared to the year ended\nDecember 31, 2021, due to the following:\nPricing 11.4 %\nVolume 3.0 %\nAcquisitions 9.0 %\nCurrency exchange rates (0.3) %\nTotal 23.1 %\nThe increase in Net revenues was driven by significantly improved pricing, higher volumes for our non-residential products and\nour Access Technologies business acquisition. These increases were partially offset by unfavorable foreign currency exchange\nrate movements and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000173_segments",
      "report_id": "ID_000173",
      "company_name": "Allegion",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Allegion Americas, Allegion International",
      "golden_context": "Page 7:\n\ned growth in global electronic products and solutions as end-users adopt newer technologies in their facilities\n• Expected growth in global electronic products and solutions as end-users adopt newer technologies in their facilities\nand homes;\n• Heightened awareness of security and privacy requirements;\n• Increased focus on touchless solutions that help promote a healthy environment; and\n• The shift to a digital, interconnected environment.\n• The shift to a digital, interconnected environment.\nWe operate in and report financial results for two segments: Allegion Americas and Allegion International, the latter of which\nprovides security products, services and solutions primarily throughout Europe, Asia and Oceania. We sell our products and\nsolutions under the following brands:",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_cash_flow",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 600.6m, investing -129.1m, financing: -298.7m",
      "golden_context": "Page 39:\n\ngrowth opportunities, including potential acquisitions, repayment or refinancing of our long-term obligations and\nrepurchases of our ordinary shares. Of our total outstanding indebtedness as of December 31, 2023, approximately 89% incurs\nfixed-rate interest and is therefore not exposed to the risk of rising variable interest rates.\nBased upon our operations, existing cash balances and unused availability under the 2021 Revolving Facility, as of\nDecember 31, 2023, we expect cash flows from operations to be sufficient to maintain a sound financial position and liquidity\nand to meet our financing needs for at least the next 12 months. Further, we do not anticipate any covenant compliance\nchallenges with any of our outstanding indebtedness for at least the next 12 months. We also believe existing availability under\nthe 2021 Credit Facilities and access to credit and capital markets are sufficient to achieve our longer-term strategic plans.\nThe following table reflects the major categories of cash flows for the years ended December 31. For additional details, see the\nConsolidated Statements of Cash Flows in the Consolidated Financial Statements.\nIn millions 2023 2022\nNet cash provided by operating activities $ 600.6 $ 459.5\nNet cash used in investing activities (129.1) (994.1)\nNet cash (used in) provided by financing activities $ (298.7) $ 437.0\nOperating activities: Net cash provided by operating activities for the year ended December 31, 2023, increased by $141.1\nmillion compared to 2022, driven primarily by higher net earnings and higher cash provided by working capital.\nInvesting activities: Net cash used in investing activities for the year ended December 31, 2023, decreased by $865.0 million\ncompared to 2022, primarily due to the Access Technologies acquisition in 2022, which was partially offset by an increase of\n$20.2 million in capital expenditures compared to 2022 and an increase in other investments by $6.2 million compared to 2022.\nFinancing activities: Net cash used in financing activities for the year ended December 31, 2023, changed by $735.7 million\ncompared to 2022. In 2022, we issued $600.0 million of Senior Notes and had net borrowings of $69.0 million on the 2021\nRevolving Facility to finance the acquisition of the Access Technologies business. In 2023, we repaid the remaining borrowings\non the 2021 Revolving Facility. The remaining change in cash used in financing activities was primarily due to an increase in\ndividend payments partially offset by slightly ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_company_type",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Public Limited Company",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from to\nCommission File No. 001-35971\nALLEGION PUBLIC LIMITED COMPANY\n(Exact name of registrant as specified in its charter)\nIreland 98-1108930\n(State or other jurisdiction of incorporation or\norganization)\n(I.R.S. Employer\nIdentification No.)\nName of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nBlock D\nIveagh Court\nHarcourt Road\nDublin 2, D02 VH94, Ireland\n(Address of principal executive offices, including zip code)\n+(353) (1) 2546200\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary shares, par value $0.01 per share 3.500% Senior Notes due 2029 Trading symbols ALLE ALLE 3 ½ Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes x No ¨\nYes ¨ No x\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_key_financials",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "3650.8m, prior year 3271.9m, operating income 708.4m, net earnings 540.6m",
      "golden_context": "Page 34:\n\nesults of Operations - For the years ended December 31\nDollar amounts in millions, except per share amounts 2023\n% of Net\nrevenues 2022\n% of Net\nrevenues\nNet revenues $ 3,650.8 $ 3,271.9\nCost of goods sold 2,069.3 56.7 % 1,949.5 59.6 %\nSelling and administrative expenses 865.6 23.7 % 736.0 22.5 %\nImpairment of intangible assets 7.5 0.2 % — — %\nOperating income 708.4 19.4 % 586.4 17.9 %\nInterest expense 93.1 75.9\nLoss on divestitures — 7.6\nOther income, net (1.9) (11.6)\nEarnings before income taxes 617.2 514.5\nProvision for income taxes 76.6 56.2\nNet earnings 540.6 458.3\nLess: Net earnings attributable to noncontrolling interests 0.2 0.3\nNet earnings attributable to Allegion plc $ 540.4 $ 458.0\nDiluted net earnings per ordinary share attributable to Allegion\nplc ordinary shareholders: $ 6.12 $ 5.19\nThe discussions that follow describe the significant factors contributing to the changes in our results of operations for the years\npresented and form the basis used by management to evaluate the financial performance of the business. For a discussion of our\nresults of operations for the year ended December 31, 2022, compared to the year ended December 31, 2021, see “Part II, Item\n7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2022 Annual Report on\nForm 10-K filed with the SEC on February 22, 2023.\nNet Revenues\nNet revenues for the year ended December 31, 2023, increased by 11.6%, or $378.9 million, as compared to the year ended\nDecember 31, 2022, due to the following:\nPricing 7.5 %\nVolume (2.3) %\nAcquisitions / divestitures 6.2 %\nCurrency exchange rates 0.2 %\nTotal 11.6 %\nThe increase in Net revenues was driven by improved pricing across our major businesses, our acquisitions of the Access\nTechnologies and plano businesses and favorable foreign currency exchange rate movements. These increases were partially\noffset by lower volumes and a divestiture in the prior year. Increased pricing was the result of multiple pricing initiatives\nimplemented to help mitigate the impact of inflation. We will continue to monitor the inflationary pressures to our businesses\nand address them through pricing initiatives where appropriate.\nPricing includes increases or decreases of price, including discounts, surcharges and/or other sales deductions, on our existing\nproducts and services. Volume includes increases or decreases of revenue due to changes in unit volume of existing products\nand services, as well as new products and services.\nCost of Goods Sold\nFor the year ended December 31, 2023, Cost of goods sold as a percentage of Net revenues decreased to 56.7% from 59.6%, as\ncompared to the year ended December 31, 2022, due to the following:\nPricing and productivity in excess of inflation and investment spending (3.8) %\nVolume / product mix 0.3 %\nAcquisitions / divestitures 0.5 %\nCurrency exchange rates 0.3 %\nRestructuring / integration / acquisition expenses (0.2) %\nTotal (2.9) %\nCost of goods sold as a percentage of Net revenues decreased primarily due to the pricing and productivity improvements,\nwhich exceeded the impacts from",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_revenue",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3650.8m",
      "golden_context": "Page 34:\n\nesults of Operations - For the years ended December 31\nDollar amounts in millions, except per share amounts 2023\n% of Net\nrevenues 2022\n% of Net\nrevenues\nNet revenues $ 3,650.8 $ 3,271.9\nCost of goods sold 2,069.3 56.7 % 1,949.5 59.6 %\nSelling and administrative expenses 865.6 23.7 % 736.0 22.5 %\nImpairment of intangible assets 7.5 0.2 % — — %\nOperating income 708.4 19.4 % 586.4 17.9 %\nInterest expense 93.1 75.9\nLoss on divestitures — 7.6\nOther income, net (1.9) (11.6)\nEarnings before income taxes 617.2 514.5\nProvision for income taxes 76.6 56.2\nNet earnings 540.6 458.3\nLess: Net earnings attributable to noncontrolling interests 0.2 0.3\nNet earnings attributable to Allegion plc $ 540.4 $ 458.0\nDiluted net earnings per ordinary share attributable to Allegion\nplc ordinary shareholders: $ 6.12 $ 5.19\nThe discussions that follow describe the significant factors contributing to the changes in our results of operations for the years\npresented and form the basis used by management to evaluate the financial performance of the business. For a discussion of our\nresults of operations for the year ended December 31, 2022, compared to the year ended December 31, 2021, see “Part II, Item\n7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2022 Annual Report on\nForm 10-K filed with the SEC on February 22, 2023.\nNet Revenues\nNet revenues for the year ended December 31, 2023, increased by 11.6%, or $378.9 million, as compared to the year ended\nDecember 31, 2022, due to the following:\nPricing 7.5 %\nVolume (2.3) %\nAcquisitions / divestitures 6.2 %\nCurrency exchange rates 0.2 %\nTotal 11.6 %\nThe increase in Net revenues was driven by improved pricing across our major businesses, our acquisitions of the Access\nTechnologies and plano businesses and favorable foreign currency exchange rate movements. These increases were partially\noffset by lower volumes and a divestiture in the prior year. Increased pricing was the result of multiple pricing initiatives\nimplemented to help mitigate the impact of inflation. We will continue to monitor the inflationary pressures to our businesses\nand address them through pricing initiatives where appropriate.\nPricing includes increases or decreases of price, including discounts, surcharges and/or other sales deductions, on our existing\nproducts and services. Volume includes increases or decreases of revenue due to changes in unit volume of existing products\nand services, as well as new products and services.\nCost of Goods Sold\nFor the year ended December 31, 2023, Cost of goods sold as a percentage of Net revenues decreased to 56.7% from 59.6%, as\ncompared to the year ended December 31, 2022, due to the following:\nPricing and productivity in excess of inflation and investment spending (3.8) %\nVolume / product mix 0.3 %\nAcquisitions / divestitures 0.5 %\nCurrency exchange rates 0.3 %\nRestructuring / integration / acquisition expenses (0.2) %\nTotal (2.9) %\nCost of goods sold as a percentage of Net revenues decreased primarily due to the pricing and productivity improvements,\nwhich exceeded the impacts from",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_revenue_growth",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "3650.8m, prior year 3271.9m",
      "golden_context": "Page 34:\n\nesults of Operations - For the years ended December 31\nDollar amounts in millions, except per share amounts 2023\n% of Net\nrevenues 2022\n% of Net\nrevenues\nNet revenues $ 3,650.8 $ 3,271.9\nCost of goods sold 2,069.3 56.7 % 1,949.5 59.6 %\nSelling and administrative expenses 865.6 23.7 % 736.0 22.5 %\nImpairment of intangible assets 7.5 0.2 % — — %\nOperating income 708.4 19.4 % 586.4 17.9 %\nInterest expense 93.1 75.9\nLoss on divestitures — 7.6\nOther income, net (1.9) (11.6)\nEarnings before income taxes 617.2 514.5\nProvision for income taxes 76.6 56.2\nNet earnings 540.6 458.3\nLess: Net earnings attributable to noncontrolling interests 0.2 0.3\nNet earnings attributable to Allegion plc $ 540.4 $ 458.0\nDiluted net earnings per ordinary share attributable to Allegion\nplc ordinary shareholders: $ 6.12 $ 5.19\nThe discussions that follow describe the significant factors contributing to the changes in our results of operations for the years\npresented and form the basis used by management to evaluate the financial performance of the business. For a discussion of our\nresults of operations for the year ended December 31, 2022, compared to the year ended December 31, 2021, see “Part II, Item\n7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2022 Annual Report on\nForm 10-K filed with the SEC on February 22, 2023.\nNet Revenues\nNet revenues for the year ended December 31, 2023, increased by 11.6%, or $378.9 million, as compared to the year ended\nDecember 31, 2022, due to the following:\nPricing 7.5 %\nVolume (2.3) %\nAcquisitions / divestitures 6.2 %\nCurrency exchange rates 0.2 %\nTotal 11.6 %\nThe increase in Net revenues was driven by improved pricing across our major businesses, our acquisitions of the Access\nTechnologies and plano businesses and favorable foreign currency exchange rate movements. These increases were partially\noffset by lower volumes and a divestiture in the prior year. Increased pricing was the result of multiple pricing initiatives\nimplemented to help mitigate the impact of inflation. We will continue to monitor the inflationary pressures to our businesses\nand address them through pricing initiatives where appropriate.\nPricing includes increases or decreases of price, including discounts, surcharges and/or other sales deductions, on our existing\nproducts and services. Volume includes increases or decreases of revenue due to changes in unit volume of existing products\nand services, as well as new products and services.\nCost of Goods Sold\nFor the year ended December 31, 2023, Cost of goods sold as a percentage of Net revenues decreased to 56.7% from 59.6%, as\ncompared to the year ended December 31, 2022, due to the following:\nPricing and productivity in excess of inflation and investment spending (3.8) %\nVolume / product mix 0.3 %\nAcquisitions / divestitures 0.5 %\nCurrency exchange rates 0.3 %\nRestructuring / integration / acquisition expenses (0.2) %\nTotal (2.9) %\nCost of goods sold as a percentage of Net revenues decreased primarily due to the pricing and productivity improvements,\nwhich exceeded the impacts from",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000174_segments",
      "report_id": "ID_000174",
      "company_name": "Allegion",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Allegion Americas and Allegion International",
      "golden_context": "Page 7:\n\nned awareness of security and privacy requirements;\n• Increased focus on touchless solutions that help promote a healthy environment; and\n• The shift to a digital, interconnected and increasingly interoperable environment.\nWe operate in and report financial results for two segments: Allegion Americas and Allegion International, the latter of which\nprovides security products, services and solutions primarily throughout Europe, Asia and Oceania. We sell our products and\nsolutions under the following brands",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_cash_flow",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "175m free cash flow",
      "golden_context": "Page 3:\n\ny is a foundational strategy for Regency, and further\nadvancement remains a key priority in coming years. It is embodied throughout our organization,\ningrained in our corporate culture, and is a part of what makes Regency a special company.\nOperational Resilience\n Executed 8.6M square feet of new leases and\nrenewals, exceeding historical averages\n Grew occupancy to end the year with a same-\nproperty leased rate of 94.3%, driven by strong\nleasing and reduced tenant move-outs\n Recovered total NOI back to 2019 levels in 4Q\n Improved collections to 99% of base rents in 4Q\nBalance Sheet & Liquidity Strength\n Extended our $1.25B unsecured credit line to\n2025, with full capacity available at year-end\n No unsecured debt maturities until 2024\n Raised $150M of equity through our ATM on a\nforward basis, with $65M unsettled at year-end\n Trailing 12-Month Net Debt-to-EBITDA of 5.1x at\nyear-end remains at the low end of peers\n Maintained S&P and Moody_x0092_s investment grade\ncredit ratings of BBB+ and Baa1, respectively\n2021 Highlights\nInvestment Activity & Capital Recycling\n $307M of value-add development and\nredevelopment projects in process at year-end\n Continued to build our pipeline of future\ndevelopment and redevelopment projects\n Completed acquisitions of grocery-anchored\ncenters totaling nearly $490M\n Sold close to $280M of non-strategic and lower-\ngrowth assets\nDividend Growth & Free Cash Flow\n Generated approximately $175M of free cash\nflow after dividend and capex\n Raised our quarterly common dividend by 5% in\n4Q21 to $0.625 per share, after maintaining our\ndividend payout throughout the pandemic\n Dividend CAGR (compound annual growth rate)\nof 3.6% since 2014",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_company_type",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "L.P.",
      "golden_context": "Page 9:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 1-12298 (Regency Centers Corporation)\nCommission File Number 0-24763 (Regency Centers, L.P.)\nREGENCY CENTERS CORPORATION\nREGENCY CENTERS, L.P.\n(Exact name of registrant as specified in its charter)\nFLORIDA (REGENCY CENTERS CORPORATION) 59-3191743\nDELAWARE (REGENCY CENTERS, L.P.) 59-3429602\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nOne Independent Drive, Suite 114\nJacksonville, Florida 32202\n(Address of principal executive offices) (zip code) Title of each class (904) 598-7000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nRegency Centers Corporation\nTrading Symbol Name of each exchange on which registered\nCommon Stock, $.01 par value Title of each class REG Regency Centers, L.P.\nTrading Symbol The Nasdaq Stock Market LLC\nName of each exchange on which registered\nNone N/A N/A\nSecurities registered pursuant to Section 12(g) of the Act:\nRegency Centers Corporation: None\nRegency Centers, L.P.: Units o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_key_financials",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "175m free cash flow, total revenues 416222k",
      "golden_context": "Page 3:\n\ny is a foundational strategy for Regency, and further\nadvancement remains a key priority in coming years. It is embodied throughout our organization,\ningrained in our corporate culture, and is a part of what makes Regency a special company.\nOperational Resilience\n Executed 8.6M square feet of new leases and\nrenewals, exceeding historical averages\n Grew occupancy to end the year with a same-\nproperty leased rate of 94.3%, driven by strong\nleasing and reduced tenant move-outs\n Recovered total NOI back to 2019 levels in 4Q\n Improved collections to 99% of base rents in 4Q\nBalance Sheet & Liquidity Strength\n Extended our $1.25B unsecured credit line to\n2025, with full capacity available at year-end\n No unsecured debt maturities until 2024\n Raised $150M of equity through our ATM on a\nforward basis, with $65M unsettled at year-end\n Trailing 12-Month Net Debt-to-EBITDA of 5.1x at\nyear-end remains at the low end of peers\n Maintained S&P and Moody_x0092_s investment grade\ncredit ratings of BBB+ and Baa1, respectively\n2021 Highlights\nInvestment Activity & Capital Recycling\n $307M of value-add development and\nredevelopment projects in process at year-end\n Continued to build our pipeline of future\ndevelopment and redevelopment projects\n Completed acquisitions of grocery-anchored\ncenters totaling nearly $490M\n Sold close to $280M of non-strategic and lower-\ngrowth assets\nDividend Growth & Free Cash Flow\n Generated approximately $175M of free cash\nflow after dividend and capex\n Raised our quarterly common dividend by 5% in\n4Q21 to $0.625 per share, after maintaining our\ndividend payout throughout the pandemic\n Dividend CAGR (compound annual growth rate)\nof 3.6% since 2014",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_revenue",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "416222k",
      "golden_context": "Page 107:\n\npenses for the investments in real estate partnerships, on a combined basis, are summarized as follows:\nTotal revenues Year ended December 31,\n(in thousands) 2021 2020 2019\n416,222 381,094 $ 417,053\nOperating expenses:\nDepreciation and amortization Operating and maintenance 66,061 65,146 65,811\nGeneral and administrative Real estate taxes Other operating expenses 94,026 5,837 3,624 101,590 5,870 54,618 53,747 53,410\n3,126 97,844\n6,201\n2,709\nTotal operating expenses $ 224,166 229,479 225,975\nOther expense (income):\nInterest expense, net 58,109 66,786 75,449\nGain on sale of real estate Early extinguishment of debt _x0097_ 554 _x0097_\nProvision for impairment Total other expense (income) (7,220) 60,194 19,874\nNet income of the Partnerships $ (75,162) 9,833 199,276 (7,146) _x0097_ 91,421 (64,798)\n9,223\n171,204\nThe Company's share of net income of the Partnerships $ 47,086 34,169 60,956\nAcquisitions\nThe following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate\npartnerships during 2020, which had no such acquisitions in 2021:\n(in thousands) Year ended December 31, 2020\nDate\nPurchased\n11/13/20 Property\nName City/State\nEastfield at Baybrook Houston, TX Property\nType\nDevelopment ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_revenue_growth",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "416222k, 381094k prior year",
      "golden_context": "Page 107:\n\npenses for the investments in real estate partnerships, on a combined basis, are summarized as follows:\nTotal revenues Year ended December 31,\n(in thousands) 2021 2020 2019\n416,222 381,094 $ 417,053\nOperating expenses:\nDepreciation and amortization Operating and maintenance 66,061 65,146 65,811\nGeneral and administrative Real estate taxes Other operating expenses 94,026 5,837 3,624 101,590 5,870 54,618 53,747 53,410\n3,126 97,844\n6,201\n2,709\nTotal operating expenses $ 224,166 229,479 225,975\nOther expense (income):\nInterest expense, net 58,109 66,786 75,449\nGain on sale of real estate Early extinguishment of debt _x0097_ 554 _x0097_\nProvision for impairment Total other expense (income) (7,220) 60,194 19,874\nNet income of the Partnerships $ (75,162) 9,833 199,276 (7,146) _x0097_ 91,421 (64,798)\n9,223\n171,204\nThe Company's share of net income of the Partnerships $ 47,086 34,169 60,956\nAcquisitions\nThe following table provides a summary of shopping centers and land parcels acquired through our unconsolidated real estate\npartnerships during 2020, which had no such acquisitions in 2021:\n(in thousands) Year ended December 31, 2020\nDate\nPurchased\n11/13/20 Property\nName City/State\nEastfield at Baybrook Houston, TX Property\nType\nDevelopment ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000175_segments",
      "report_id": "ID_000175",
      "company_name": "Regency Centers",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "One reportable segments.",
      "golden_context": "Page 103:\n\nERS CORPORATION AND REGENCY CENTERS, L.P.\nNotes to Consolidated Financial Statements\nDecember 31, 2021\nfor each property on an individual basis; therefore, the Company defines an operating segment as its individual properties.\nThe individual properties have been aggregated into one reportable segment based upon their similarities with regard to both\nthe nature and economics of the centers, tenants and operational processes, as well as long-term average financial\nperformance.\n(m) Business Concentration\nGrocer anchor ten",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_cash_flow",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "155m of free cash flow after dividend and capital expenditures",
      "golden_context": "Page 4:\n\nOperational Strength\nExecuted 8.2M square feet of new and\nrenewal leases, exceeding historical\naverages\nGrew leased occupancy 80 bps year-over-\nyear to end 2022 with a same-property\nleased rate of 95.1%\nGrew shop (<10K square feet) occupancy\nby a record 200 bps year-over-year to 92.0%\nNearly 85% of 2022 leasing activity included\nembedded rent steps\nGenerated approximately 9% Core\nOperating Earnings per share growth,\nexcluding the collection of 2020 and 2021\nreceivables reserved\nIncreased by 6.3% year-over-year Same\nProperty NOI, excluding lease termination\nfees and the collection of 2020 and 2021\nreceivables reserved\n2022 Highlights\nInvestment Activity & Capital Recycling\nCompleted north of $120 million of value-\nadd development and redevelopment\nprojects with over $300M of projects in\nprocess at year-end\nCompleted acquisitions of grocery-\nanchored centers totaling nearly $210M\nSold close to $180M of non-strategic and\nlower-growth assets\nSettled approximately 1.0 million shares\nunder forward sale agreements entered into\nduring 2021 in connection with our ATM\nprogram, at an average gross issuance\nprice of $65.78 per share\nBalance Sheet, Liquidity & Dividend\nFull availability on our $1.25B unsecured\ncredit line at year-end\nNo unsecured debt maturities until 2024\nTrailing 12-Month Net Debt-to-EBITDA of 5.0x\nat year-end\nMaintained S&P and Moody’s investment\ngrade credit ratings of BBB+ and Baa1,\nrespectively, with Moody’s outlook revised\nfrom stable to positive in September 2022\nClosed over $120 million of new secured\nproperty-level debt during 2022 at\nRegency’s share, at attractive market rates\nGenerated over $155M of free cash flow\nafter dividend and capital expenditures\nRaised our quarterly common dividend by\n4% in 4Q22 to $0.65 per share\nDividend CAGR (compound annual growth\nrate) of 3.8% since 2014",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_company_type",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "L.P.",
      "golden_context": "Page 7:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 1-12298 (Regency Centers Corporation)\nCommission File Number 0-24763 (Regency Centers, L.P.)\nREGENCY CENTERS CORPORATION\nREGENCY CENTERS, L.P.\n(Exact name of registrant as specified in its charter)\nFLORIDA (REGENCY CENTERS CORPORATION) 59-3191743\nDELAWARE (REGENCY CENTERS, L.P.) 59-3429602\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nOne Independent Drive, Suite 114\nJacksonville, Florida 32202 (904) 598-7000\n(Address of principal executive offices) (zip code) (Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nRegency Centers Corporation\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock, $.01 par value Title of each class REG ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_key_financials",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "generated approx. 9% core operating earnings per share growth, 6.3% year-over-year same property NOI. ",
      "golden_context": "Page 4:\n\nOperational Strength\nExecuted 8.2M square feet of new and\nrenewal leases, exceeding historical\naverages\nGrew leased occupancy 80 bps year-over-\nyear to end 2022 with a same-property\nleased rate of 95.1%\nGrew shop (<10K square feet) occupancy\nby a record 200 bps year-over-year to 92.0%\nNearly 85% of 2022 leasing activity included\nembedded rent steps\nGenerated approximately 9% Core\nOperating Earnings per share growth,\nexcluding the collection of 2020 and 2021\nreceivables reserved\nIncreased by 6.3% year-over-year Same\nProperty NOI, excluding lease termination\nfees and the collection of 2020 and 2021\nreceivables reserved\n2022 Highlights\nInvestment Activity & Capital Recycling\nCompleted north of $120 million of value-\nadd development and redevelopment\nprojects with over $300M of projects in\nprocess at year-end\nCompleted acquisitions of grocery-\nanchored centers totaling nearly $210M\nSold close to $180M of non-strategic and\nlower-growth assets\nSettled approximately 1.0 million shares\nunder forward sale agreements entered into\nduring 2021 in connection with our ATM\nprogram, at an average gross issuance\nprice of $65.78 per share\nBalance Sheet, Liquidity & Dividend\nFull availability on our $1.25B unsecured\ncredit line at year-end\nNo unsecured debt maturities until 2024\nTrailing 12-Month Net Debt-to-EBITDA of 5.0x\nat year-end\nMaintained S&P and Moody’s investment\ngrade credit ratings of BBB+ and Baa1,\nrespectively, with Moody’s outlook revised\nfrom stable to positive in September 2022\nClosed over $120 million of new secured\nproperty-level debt during 2022 at\nRegency’s share, at attractive market rates\nGenerated over $155M of free cash flow\nafter dividend and capital expenditures\nRaised our quarterly common dividend by\n4% in 4Q22 to $0.65 per share\nDividend CAGR (compound annual growth\nrate) of 3.8% since 2014",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_revenue",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1224022k",
      "golden_context": "Page 54:\n\n of the years ended December 31, 2022 and 2021:\nRevenues changed as summarized in the following table:\n(in thousands) 2022 2021 Change\nLease income\nBase rent $ 821,755 765,941 55,814\nRecoveries from tenants 280,658 258,596 22,062\nPercentage rent Uncollectible lease income 9,635 13,841 6,601 23,481 3,034\n(9,640)\nOther lease income Straight-line rent 14,748 24,272 16,021 18,189 (1,273)\n6,083\nAbove / below market rent amortization 22,543 24,539 (1,996)\nTotal lease income $ 1,187,452 1,113,368 74,084\nOther property income Management, transaction, and other fees 10,719 25,851 12,456 40,337 (1,737)\n(14,486)\nTotal revenues $ 1,224,022 1,166,161 57,861\nLease income increased $74.1 million, driven by the following contractually billable components of rent to the tenants per the lease\nagreements:\n$55.8 million increase from billable Base rent, as follows:\n$19.4 million increase from acquisitions of operating properties;\n$1.5 million increase from rent commencing at development properties; and\n$42.3 million net increase from same properties, including a $13.8 million increase related to our acquisition and\nresulting consolidation of the 11 properties previously held in unconsolidated partnerships during 2021 and a\nportion of 2022, and a $28.5 million net increase in the remaining same properties due to increases from occupancy,\nrent steps in existing leases, and positive rental spreads on new and renewal leases, as well as redevelopment\nprojects completing and operating; partially offset by\n$7.3 million decrease from the sale of operating properties.\n$22.1 million increase from contractual Recoveries from tenants, which represents the tenants' proportionate share of the\noperating, maintenance, insurance and real estate tax expenses that we incur to operate our shopping centers. Recoveries\nfrom tenants increased, on a net basis, from the following:\n$8.5 million increase from acquisitions of operating properties and rent commencing at development properties; and\n$15.8 million net increase from same properties due to higher operating costs in the current year and greater\nrecovery of those expense",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_revenue_growth",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1224022k, prior year 1166161k",
      "golden_context": "Page 54:\n\n of the years ended December 31, 2022 and 2021:\nRevenues changed as summarized in the following table:\n(in thousands) 2022 2021 Change\nLease income\nBase rent $ 821,755 765,941 55,814\nRecoveries from tenants 280,658 258,596 22,062\nPercentage rent Uncollectible lease income 9,635 13,841 6,601 23,481 3,034\n(9,640)\nOther lease income Straight-line rent 14,748 24,272 16,021 18,189 (1,273)\n6,083\nAbove / below market rent amortization 22,543 24,539 (1,996)\nTotal lease income $ 1,187,452 1,113,368 74,084\nOther property income Management, transaction, and other fees 10,719 25,851 12,456 40,337 (1,737)\n(14,486)\nTotal revenues $ 1,224,022 1,166,161 57,861\nLease income increased $74.1 million, driven by the following contractually billable components of rent to the tenants per the lease\nagreements:\n$55.8 million increase from billable Base rent, as follows:\n$19.4 million increase from acquisitions of operating properties;\n$1.5 million increase from rent commencing at development properties; and\n$42.3 million net increase from same properties, including a $13.8 million increase related to our acquisition and\nresulting consolidation of the 11 properties previously held in unconsolidated partnerships during 2021 and a\nportion of 2022, and a $28.5 million net increase in the remaining same properties due to increases from occupancy,\nrent steps in existing leases, and positive rental spreads on new and renewal leases, as well as redevelopment\nprojects completing and operating; partially offset by\n$7.3 million decrease from the sale of operating properties.\n$22.1 million increase from contractual Recoveries from tenants, which represents the tenants' proportionate share of the\noperating, maintenance, insurance and real estate tax expenses that we incur to operate our shopping centers. Recoveries\nfrom tenants increased, on a net basis, from the following:\n$8.5 million increase from acquisitions of operating properties and rent commencing at development properties; and\n$15.8 million net increase from same properties due to higher operating costs in the current year and greater\nrecovery of those expense",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000176_segments",
      "report_id": "ID_000176",
      "company_name": "Regency Centers",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "One single operating segment",
      "golden_context": "Page 103:\n\n the Parent Company.\n(l) Segment Reporting\nThe Company's business is investing in retail shopping centers through direct ownership or partnership interests. The\nCompany actively manages its portfolio of retail shopping centers and may from time to time make decisions to sell lower\nperforming properties or developments not meeting its long-term investment objectives. The proceeds from sales are\ngenerally reinvested into higher quality retail shopping centers, through acquisitions, new developments, or redevelopment of\nexisting centers, which management believes will generate sustainable revenue growth and attractive returns. It is\nmanagement's intent that all retail shopping centers will be owned or developed for investment purposes; however, the\nCompany may decide to sell all or a portion of a development upon completion. The Company's revenues and net income\nare generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage\nand lease retail shopping centers owned through joint ventures.\nThe Company's portfolio is located throughout the United States. Management does not distinguish or group its operations\non a geographical basis for purposes of allocating resources or capital. The Company reviews operating and financial data\nfor each property on an individual basis; therefore, the Company defines an operating segment as its individual properties.\nThe individual properties have been aggregated into one reportable segment based upon their similarities with regard to both\nthe nature and economics of the centers, tenants and operational processes, as well as long-term average financial\nperformance.\n(m) Business Concentration\nGrocer anchor tenants repr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_cash_flow",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 719591k, investing -341978k, financing -355035k, total cash flow 22578k",
      "golden_context": "Page 71:\n\nummary of Cash Flow Activity\nThe following table summarizes net cash flows related to operating, investing, and financing activities of the Company:\n(in thousands) 2023 2022 Change\nNet cash provided by operating activities Net cash used in investing activities $ 719,591 (341,978) 655,815 (206,108) 63,776\n(135,870)\nNet cash used in financing activities (355,035) (475,958) 120,923\nNet change in cash, cash equivalents, and restricted cash 22,578 (26,251) 48,829\nTotal cash, cash eq quivalents, and restricted cash $ 91,354 68,776 22,578\nNet cash provided by operating activities:\nNet cash provided by operating activities increased $63.8 million due to:\n• $58.7 million increase in cash from operations due to timing of receipts and payments, and\n• $5.1 million increase in operating cash flow distributions from Investments in real estate partnerships.\nNet cash used in investing activities:\nNet cash used in investing activities changed by $135.9 million as follows:\n(in thousands) 2023 2022 Change\nCash flows from investing activities:\nAcquisition of operating real estate, net of cash acquired of $0,\n$ (45,386) (82,389) (169,639) — — 124,253\n(82,389)\n$3,061 and $2,991 in 2023, 2022 and 2021, respectively Acquisition of UBP, net of cash acquired of $14,143 Real estate development and capital improvements (232,855) (195,418) (37,437)\nProceeds from sale of real estate 11,167 143,133 (131,966)\nIssuance of notes receivable (4,000) — (4,000)\nCollection of notes receivable 4,000 1,823 2,177\nInvestments in real estate partnerships Return of capital from investments in real estate partnerships (13,119) 11,308 (36,266) 48,473 23,147\n(37,165)\nDividends on investment securities 1,283 1,113 170\nAcquisition of investment securities (7,990) (21,112) 13,122\nProceeds from sale of investment securities 16,003 21,785 (5,782)\nNet cash used in investing activities $ (341,978) (206,108) (135,870)\nSignificant changes in investing activities include:\n• We paid $45.4 million in 2023 to purchase two operating properties. In 2022, we paid $169.6 million to purchase seven\noperating properties, including four properties in which we previously held a 25% interest through an unconsolidated\nInvestment in real estate partnership.\n• We invested $82.4 million, net of $14.1 million in cash acquired for the acquisition of UBP, including $39.3 million for UBP\ndebt repaid at closing, and $57.2 million in direct transaction and other costs.\n• We invested $37.4 million more i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_company_type",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "L.P.",
      "golden_context": "Page 13:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 1-12298 (Regency Centers Corporation)\nCommission File Number 0-24763 (Regency Centers, L.P.)\nREGENCY CENTERS CORPORATION\nREGENCY CENTERS, L.P.\n(Exact name of registrant as specified in its charter)\nFLORIDA (REGENCY CENTERS CORPORATION) 59-3191743\nDELAWARE (REGENCY CENTERS, L.P.) 59-3429602\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nOne Independent Drive, Suite 114\nJacksonville, Florida 32202 (904) 598-7000\n(Address of principal executive offices) (zip code) (Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nRegency Centers Corporation\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock, $0.01 par value 6.250% Series A Cumulative Redeemable\nPreferred Stock, par value $0.01 per share\n5.875% Series B Cumulative Redeemable\nPreferred Stock, par value $0.01 per share\nTitle of each class REG REGCP REGCO Regency Centers, L.P.\nTrading Symbol The Nasdaq Stock Market LLC\nThe Nasdaq Stock Market LLC\nThe Nasdaq Stock Market LLC\nName of each exchange on which registered\nNone N/A N/A\nSecurities registered pursuant to Section 12(g) of the Act:\nRegency Centers Corporation: None\nRegency Centers, L.P.: Units of Partnership Interest\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nRegency Centers Corporation Yes ☒ No ☐ Regency Centers, L.P. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act\nRegency Centers Corporation Yes ☐ No ☒ Regency Centers, L.P. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days.\nRegency Centers Corporation Yes ☒ No ☐ Regency Centers, L.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_key_financials",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "3.6% same property NOI growth",
      "golden_context": "Page 4:\n\nOperational Highlights\n• Increased Same Property NOI 3.6% year-\nover-year, excluding lease termination fees\nand the collection of receivables reserved\nduring 2020 and 2021\n• Executed more than 1,800 new and renewal\nleases totaling more than 8 million square\nfeet of space\n• Grew leased occupancy 60 bps year-over-\nyear, ending 2023 with a Same Property\nleased rate of 95.7%\n• Executed more than 1.4 million square feet of\nnew shop space, our highest shop volume in\nmore than a decade\n• Achieved blended rent spreads of +10% on a\ncash basis and +19% on a straight-lined\n(GAAP) basis on comparable new and\nrenewal leases\nStrong Operating Fundamentals\nBase rent growth was the most significant\ncontributor to our 3.6% Same Property NOI\ngrowth in 2023, and was driven by occupancy\ngains and rent growth, including rent spreads on\nleasing activity and contractual rent steps\nembedded in leases. Our team remains focused\non driving overall rent growth, and we were\nnotably able to secure meaningful contractual\nsteps in the majority of our signed leases in 2023.\nWe also continue to be prudent with leasing\ncapital expenditures, contributing significantly to\nfree cash flow.\nRobust tenant demand supported this sustained\noccupancy and rent growth, despite impact\nfrom bankruptcies in 2023. Our Same Property\npercent leased rate improved by another 60\nbasis points year-over-year to a near-record high\nof 95.7%. Our leased rate for Same Property shop\nspaces (<10K square feet) saw an increase of\n150 basis points year-over-year, ending the year\nat an all-time high of 93.4%. Even with these\nextraordinary gains in 2023 and occupancy\nlevels at or near our historical high watermarks,\nour leasing team is focused on growing\noccupancy even higher and surpassing prior\npeak levels.\n93.4% Shop Leased\nGrew shop occupancy (<10K square feet)\n150 bps year-over-year to a record high % Leased",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_revenue",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1322466k",
      "golden_context": "Page 86:\n\nREGENCY CENTERS CORPORATION\nConsolidated Statements of Operations\nFor the years ended December 31, 2023, 2022, and 2021\n(in thousands, except per share data)\n2023 2022 2021\nRevenues:\nLease income $ 1,283,939 1,187,452 1,113,368\n12,456\nOther property income 11,573 10,719 Management, transaction, and other fees 26,954 25,851 40,337\nTotal revenues 1,322,466 1,224,022 1,166,161\nOperating expenses:\nDepreciation and amortization 352,282 319,697 303,331\nProperty operating expense Real estate taxes 229,209 165,560 196,148 149,795 184,553\n142,129\nGeneral and administrative 97,806 79,903 78,218\nOther operating expenses 9,459 6,166 5,751\nTotal operating expenses 854,316 751,709 713,982\nOther expense (income):\nInterest expense, net 154,249 146,186 145,170\nProvision for impairment of real estate Gain on sale of real estate, net of tax — — (661) (109,005) 84,389\n(91,119)\nEarly extinguishment of debt Net investment (income) loss (99) (5,665) 6,921 — —\n(5,463)\nTotal other exp pense 147,824 44,102 132,977\nIncome from operations before equity in income of investments in real estate\npartnerships 320,326 428,211 319,202\nEq quity in income of investments in real estate p partnership ps (note 4) 50,541 59,824 47,086\nNet income 370,867 488,035 366,288\nNoncontrolling interests:\nExchangeable operating partnership units Limited partners’ interests in consolidated partnerships (2,008) (4,302) (2,105) (3,065) (1,615)\n(3,262)\nIncome attributable to noncontrolling interests (6,310) (5,170) (4,877)\nNet income attributable to the Comp pany 364,557 482,865 361,411\nPreferred stock dividends (5,057) — —\nNet income attributable to common shareholders $ 359,500 482,865 361,411\nIncome per common share - basic (note 15) Income per common share - diluted (note 15) $ 2.04 $ 2.04 2.82 2.81 2.12\n2.12",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_revenue_growth",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1322466k, 1224022k",
      "golden_context": "Page 86:\n\nREGENCY CENTERS CORPORATION\nConsolidated Statements of Operations\nFor the years ended December 31, 2023, 2022, and 2021\n(in thousands, except per share data)\n2023 2022 2021\nRevenues:\nLease income $ 1,283,939 1,187,452 1,113,368\n12,456\nOther property income 11,573 10,719 Management, transaction, and other fees 26,954 25,851 40,337\nTotal revenues 1,322,466 1,224,022 1,166,161\nOperating expenses:\nDepreciation and amortization 352,282 319,697 303,331\nProperty operating expense Real estate taxes 229,209 165,560 196,148 149,795 184,553\n142,129\nGeneral and administrative 97,806 79,903 78,218\nOther operating expenses 9,459 6,166 5,751\nTotal operating expenses 854,316 751,709 713,982\nOther expense (income):\nInterest expense, net 154,249 146,186 145,170\nProvision for impairment of real estate Gain on sale of real estate, net of tax — — (661) (109,005) 84,389\n(91,119)\nEarly extinguishment of debt Net investment (income) loss (99) (5,665) 6,921 — —\n(5,463)\nTotal other exp pense 147,824 44,102 132,977\nIncome from operations before equity in income of investments in real estate\npartnerships 320,326 428,211 319,202\nEq quity in income of investments in real estate p partnership ps (note 4) 50,541 59,824 47,086\nNet income 370,867 488,035 366,288\nNoncontrolling interests:\nExchangeable operating partnership units Limited partners’ interests in consolidated partnerships (2,008) (4,302) (2,105) (3,065) (1,615)\n(3,262)\nIncome attributable to noncontrolling interests (6,310) (5,170) (4,877)\nNet income attributable to the Comp pany 364,557 482,865 361,411\nPreferred stock dividends (5,057) — —\nNet income attributable to common shareholders $ 359,500 482,865 361,411\nIncome per common share - basic (note 15) Income per common share - diluted (note 15) $ 2.04 $ 2.04 2.82 2.81 2.12\n2.12",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000177_segments",
      "report_id": "ID_000177",
      "company_name": "Regency Centers",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 111:\n\n(k) Segment Reporting\nThe Company's business is investing in retail shopping centers through direct ownership or partnership interests. The\nCompany actively manages its portfolio of retail shopping centers and may from time to time make decisions to sell lower\nperforming properties or developments not meeting its long-term investment objectives. The proceeds from sales are\ngenerally reinvested into higher quality retail shopping centers, through acquisitions, new developments, or redevelopment of\nexisting centers, which management believes will generate sustainable revenue growth and attractive returns. It is\nmanagement's intent that all retail shopping centers will be owned or developed for investment purposes; however, the\nCompany may decide to sell all or a portion of a development upon completion. The Company's revenues and net income\nare generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage\nand lease retail shopping centers owned through joint ventures.\nThe Company's portfolio is located throughout the United States. Management does not distinguish or group its operations\non a geographical basis for purposes of allocating resources or capital. The Company’s chief operating decision maker\nevaluates operating and financial performance for each property on an individual property level; therefore, the Company\ndefines an operating segment as its individual properties. The individual properties have been aggregated into one reportable\nsegment based upon their similarities with regard to both the nature and economics of the centers, tenants and operational\nprocesses, as well as long-term average financial performance.\n(l) Business Concentration\nGrocer anchor tenants represent approximately 20.0% of ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_cash_flow",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating 48.8m, investing -711.1m, financing 407.5m, cash flow total: -275.7m",
      "golden_context": "Page 42:\n\nur customer funds are held and invested with the primary objectives being to protect the principal balance and to\nensure adequate liquidity to meet cash flow requirements. Please refer to Note 5, \"Customer Funds,\" for further\ndiscussion of these funds.\nStatements of Cash Flows\nChanges in cash flows due to purchases of customer fund marketable securities and proceeds from the sale or\nmaturity of customer fund marketable securities, as well as the carrying value of customer fund accounts as of period end\ndates can vary significantly due to several factors, including the specific day of the week the period ends, which impacts\nthe timing of funds collected from customers and payments made to satisfy customer obligations to employees, taxing\nauthorities, and others. The customer funds are fully segregated from our operating cash accounts and are evaluated and\ntracked separately by management. The table below summarizes the activity within the consolidated statements of cash\nflows:\nYear Ended December 31,\n2021 2020\n(Dollars in millions)\nNet cash provided by (used in) operating activities $ 48.8 $ (30.2)\nNet cash (used in) provided by investing activities Net cash provided by financing activities Effect of exchange rate on cash and equivalents (711.1) 407.5 (20.9) 38.8\n565.3\n(4.0)\nNet (decrease) increase in cash, restricted cash, and equivalents Cash, restricted cash, and equivalents at beginning of period (275.7) 2,228.5 569.9\n1,658.6\nCash, restricted cash, and equivalents at end of period 2,228.5\n1,952.8 Cash and equivalents 367.5 Restricted cash and equivalents in customer funds 1,585.3 2,040.3\nTotal cash, restricted cash, and equivalents $ 188.2\n$ 1,952.8 $ 2,228.5\nOperating Activities\nNet cash provided by operating activities was $48.8 million during the year ended December 31, 2021, primarily\nattributed to a net loss of $75.4 million offset by the net impact of adjustments for certain non-cash items of $165.2 million,\nincluding $113.4 million of non-cash share-based compensation expense, and $77.5 million of depreciation and\namortization. Additionally, there were net working capital reductions of $41.0 million. The net working capital reductions\nincluded a $34.8 million increase in trade and other receivables, a $12.3 million increase in prepaid expenses and other\ncurrent assets, a $11.8 million decrease in working capital related to other assets and liabilities, and a $9.3 million\ndecrease in accounts payable and other accrued expenses.\nNet cash used in operating activities was $30.2 million during the year ended December 31, 2020, primarily\nattributed to net changes in working capital that resulted in a $161.1 million reduction in cash and a net loss of $4.0\nmillion, partially offset by the net impact of adjustments for certain non-cash items of $134.9 million, including $65.8 million\n38 | 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_company_type",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 4:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE\nTRANSITION PERIOD FROM TO\nCommission File Number 001-38467\nCeridian HCM Holding Inc.\n(Exact name of Registrant as specified in its Charter)\nDelaware 46-3231686\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n3311 East Old Shakopee Road\nMinneapolis, Minnesota 55425\n(952) 853-8100\n(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Name of each exchange on which registered\nTrading Symbol(s) Common Stock, $.01 par value CDAY New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☒ NO ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐ NO ☒\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the Registrant was req",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_key_financials",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue 1024.2m, net loss -75.4, adjusted EBITDA 162.5m",
      "golden_context": "Page 37-38:\n\nResults of Operations\nYear Ended December 31, 2021 Compared with Year Ended December 31, 2020\nThe following table sets forth our results of operations for the periods presented:\nYear Ended\nDecember 31,\nIncrease/\n(Decrease) % of Revenue\n2021 2020 Amount % 2021 2020\n(Dollars in millions)\nRevenue:\nRecurring\nCloud $ 712.9 Bureau 137.8 110.5 27.3 24.7% 13.5% 13.1%\nTotal recurring $ 579.7 850.7 $ 133.2 690.2 23.0% 69.6% 68.8%\n160.5 23.3% 83.1% 81.9%\nProfessional services and\nother\n173.5 152.3 21.2 13.9% 16.9% 18.1%\nTotal revenue 1,024.2 842.5 181.7 21.6% 100.0% 100.0%\nCost of revenue:\nRecurring\nCloud 197.7 166.9 30.8 18.5% 19.3% 19.8%\nBureau 64.7 Total recurring 262.4 213.3 49.1 23.0% 25.6% 25.3%\n46.4 18.3 39.4% 6.3% Professional services and\nother\n19.4%\n194.6 163.7 30.9 18.9% 19.0% 5.5%\nProduct development and\nmanagement\n134.0 83.7 50.3 60.1% 13.1% 9.9%\n50.9 40.5 Gross profit Depreciation and amortization 341.3 10.4 25.7% 4.8%\nTotal cost of revenue 641.9 501.2 140.7 28.1% 62.7% 59.5%\n382.3 41.0 12.0% 37.3% 40.5%\n417.8 333.5 84.3 25.3% 40.8% 39.6%\nInterest expense, net 35.9 25.1 10.8 43.0% 3.5% 3.0%\nSelling, general, and\nadministrative\nOperating profit Other expense, net (35.5) 18.9 (14.9) (7.4)% Adjusted EBITDA margin (b) 15.9% 7.8 2.7 (16.0) (0.5)% 18.9% (43.3) 16.2 1.1 (6.9)% (3.0)% (555.1)% 600.0% 6.9% (1450.6)%\n(15.9)%\n5.0% (3.5)% 1.8% (1.4)% 0.9%\n0.3%\n(1.9)%\nLoss before income taxes (90.3) (20.0) (70.3) (351.5)% (8.8)% (2.4)%\nIncome tax benefit Net loss (75.4) (4.0) (71.4) (1785.0)% (7.4)% (0.5)%\nNet profit margin (a) Adjusted EBITDA (b) $ 162.5 $ 159.0 $ 3.5 2.2% 15.9% 18.9%\n(a) (b) Net profit margin is determined by calculating the percentage that net (loss) income is of total revenue.\nFor a reconciliation of Adjusted EBITDA to net income, please refer to the “Non-GAAP Measures” section.\n33 | 2021 Form 10-K\nRevenue. The following table sets forth certain information regarding our consolidated revenues for periods\npresented:\nYear Ended\nDecember 31,\nPercentage\nchange in\nrevenue as\nreported\nImpact of\nchanges in\nforeign\ncurrency (a)\nPercentage\nchange in\nrevenue on a\nconstant\ncurrency\nbasis (a)\n2021 2020 2021 vs. 2020 2021 vs. 2020\nRevenue:\n159.3 160.2 Total revenue Total Cloud revenue $ 873.1 $ 729.4 19.7% 2.4% 17.3%\nTotal Cloud revenue Total recurring, excluding float (Dollars in millions)\nDayforce recurring, excluding float $ 596.9 $ 463.1 28.9% 1.8% 27.1%\nDayforce float 29.7 37.1 (19.9)% 1.7% Total Dayforce recurring 626.6 500.2 25.3% 1.8% 23.5%\nPowerpay recurring, excluding float 78.2 70.8 10.5% 7.0% Powerpay float 8.1 8.7 (6.9)% 6.9% (13.8)%\nTotal Powerpay recurring 86.3 79.5 8.6% 7.0% Total Cloud recurring 712.9 579.7 23.0% 2.5% 20.5%\nDayforce professional services and\n148.6 7.2% 2.1% (21.6)%\n3.5%\n1.6%\n5.1%\nother\nPowerpay professional services and\n0.9 1.1 (18.2)% (—)% (18.2)%\nother\nTotal Cloud professional services\n149.7 7.0% 2.1% 4.9%\nand other\nTotal Cloud revenue 873.1 729.4 19.7% 2.4% 17.3%\nBureau recurring, excluding float 134.5 104.0 29.3% 1.4% Bureau float 3.3 6.5 (49.2)% (—)% (49.2)%\nTotal Bureau recurring 137.8 110.5 24.7% 1.4% Bureau professional services and other 13.3 2.6 411.5% (11.6)% 423.1%\n151.1 113.1 33.6% 1.1% 27.9%\n23.3%\n32.5%\n$ 785.9 $ 648.8 21.1% 1.8% 19.3%\n87.2 80.6 8.2% 6.8% 1.4%\nDayforce, excluding float $ 756.2 $ 611.7 23.6% 1.8% 21.8%\nPowerpay, excluding float 79.1 Cloud float 37.8 45.8 (17.5)% 2.6% (20.1)%\n$ 873.1 71.9 729.4 10.0% 6.8% 19.7% 2.4% 3.2%\n17.3%\n$ 675.1 26.4% 2.4% Bureau recurring, excluding float 134.5 104.0 29.3% 1.4% 27.9%\n637.9 26.9% 2.3% 24.6%\nTotal Bureau revenue $ 1,024.2 $ 842.5 21.6% 2.2% 19.4%\nDayforce Powerpay Cloud recurring, excluding float $ 533.9 24.0%\n809.6 Total revenue, excluding float $ 983.1 $ 790.2 24.4% 2.2% 22.2%\n(a) Please refer to “Non-GAAP Measures” section for additional information on our constant currency revenue, a non-\nGAAP financial measure.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_revenue",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 1024.2m",
      "golden_context": "Page 37-38:\n\nResults of Operations\nYear Ended December 31, 2021 Compared with Year Ended December 31, 2020\nThe following table sets forth our results of operations for the periods presented:\nYear Ended\nDecember 31,\nIncrease/\n(Decrease) % of Revenue\n2021 2020 Amount % 2021 2020\n(Dollars in millions)\nRevenue:\nRecurring\nCloud $ 712.9 Bureau 137.8 110.5 27.3 24.7% 13.5% 13.1%\nTotal recurring $ 579.7 850.7 $ 133.2 690.2 23.0% 69.6% 68.8%\n160.5 23.3% 83.1% 81.9%\nProfessional services and\nother\n173.5 152.3 21.2 13.9% 16.9% 18.1%\nTotal revenue 1,024.2 842.5 181.7 21.6% 100.0% 100.0%\nCost of revenue:\nRecurring\nCloud 197.7 166.9 30.8 18.5% 19.3% 19.8%\nBureau 64.7 Total recurring 262.4 213.3 49.1 23.0% 25.6% 25.3%\n46.4 18.3 39.4% 6.3% Professional services and\nother\n19.4%\n194.6 163.7 30.9 18.9% 19.0% 5.5%\nProduct development and\nmanagement\n134.0 83.7 50.3 60.1% 13.1% 9.9%\n50.9 40.5 Gross profit Depreciation and amortization 341.3 10.4 25.7% 4.8%\nTotal cost of revenue 641.9 501.2 140.7 28.1% 62.7% 59.5%\n382.3 41.0 12.0% 37.3% 40.5%\n417.8 333.5 84.3 25.3% 40.8% 39.6%\nInterest expense, net 35.9 25.1 10.8 43.0% 3.5% 3.0%\nSelling, general, and\nadministrative\nOperating profit Other expense, net (35.5) 18.9 (14.9) (7.4)% Adjusted EBITDA margin (b) 15.9% 7.8 2.7 (16.0) (0.5)% 18.9% (43.3) 16.2 1.1 (6.9)% (3.0)% (555.1)% 600.0% 6.9% (1450.6)%\n(15.9)%\n5.0% (3.5)% 1.8% (1.4)% 0.9%\n0.3%\n(1.9)%\nLoss before income taxes (90.3) (20.0) (70.3) (351.5)% (8.8)% (2.4)%\nIncome tax benefit Net loss (75.4) (4.0) (71.4) (1785.0)% (7.4)% (0.5)%\nNet profit margin (a) Adjusted EBITDA (b) $ 162.5 $ 159.0 $ 3.5 2.2% 15.9% 18.9%\n(a) (b) Net profit margin is determined by calculating the percentage that net (loss) income is of total revenue.\nFor a reconciliation of Adjusted EBITDA to net income, please refer to the “Non-GAAP Measures” section.\n33 | 2021 Form 10-K\nRevenue. The following table sets forth certain information regarding our consolidated revenues for periods\npresented:\nYear Ended\nDecember 31,\nPercentage\nchange in\nrevenue as\nreported\nImpact of\nchanges in\nforeign\ncurrency (a)\nPercentage\nchange in\nrevenue on a\nconstant\ncurrency\nbasis (a)\n2021 2020 2021 vs. 2020 2021 vs. 2020\nRevenue:\n159.3 160.2 Total revenue Total Cloud revenue $ 873.1 $ 729.4 19.7% 2.4% 17.3%\nTotal Cloud revenue Total recurring, excluding float (Dollars in millions)\nDayforce recurring, excluding float $ 596.9 $ 463.1 28.9% 1.8% 27.1%\nDayforce float 29.7 37.1 (19.9)% 1.7% Total Dayforce recurring 626.6 500.2 25.3% 1.8% 23.5%\nPowerpay recurring, excluding float 78.2 70.8 10.5% 7.0% Powerpay float 8.1 8.7 (6.9)% 6.9% (13.8)%\nTotal Powerpay recurring 86.3 79.5 8.6% 7.0% Total Cloud recurring 712.9 579.7 23.0% 2.5% 20.5%\nDayforce professional services and\n148.6 7.2% 2.1% (21.6)%\n3.5%\n1.6%\n5.1%\nother\nPowerpay professional services and\n0.9 1.1 (18.2)% (—)% (18.2)%\nother\nTotal Cloud professional services\n149.7 7.0% 2.1% 4.9%\nand other\nTotal Cloud revenue 873.1 729.4 19.7% 2.4% 17.3%\nBureau recurring, excluding float 134.5 104.0 29.3% 1.4% Bureau float 3.3 6.5 (49.2)% (—)% (49.2)%\nTotal Bureau recurring 137.8 110.5 24.7% 1.4% Bureau professional services and other 13.3 2.6 411.5% (11.6)% 423.1%\n151.1 113.1 33.6% 1.1% 27.9%\n23.3%\n32.5%\n$ 785.9 $ 648.8 21.1% 1.8% 19.3%\n87.2 80.6 8.2% 6.8% 1.4%\nDayforce, excluding float $ 756.2 $ 611.7 23.6% 1.8% 21.8%\nPowerpay, excluding float 79.1 Cloud float 37.8 45.8 (17.5)% 2.6% (20.1)%\n$ 873.1 71.9 729.4 10.0% 6.8% 19.7% 2.4% 3.2%\n17.3%\n$ 675.1 26.4% 2.4% Bureau recurring, excluding float 134.5 104.0 29.3% 1.4% 27.9%\n637.9 26.9% 2.3% 24.6%\nTotal Bureau revenue $ 1,024.2 $ 842.5 21.6% 2.2% 19.4%\nDayforce Powerpay Cloud recurring, excluding float $ 533.9 24.0%\n809.6 Total revenue, excluding float $ 983.1 $ 790.2 24.4% 2.2% 22.2%\n(a) Please refer to “Non-GAAP Measures” section for additional information on our constant currency revenue, a non-\nGAAP financial measure.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_revenue_growth",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 1024.2m, prior year 842.5m",
      "golden_context": "Page 37-38:\n\nResults of Operations\nYear Ended December 31, 2021 Compared with Year Ended December 31, 2020\nThe following table sets forth our results of operations for the periods presented:\nYear Ended\nDecember 31,\nIncrease/\n(Decrease) % of Revenue\n2021 2020 Amount % 2021 2020\n(Dollars in millions)\nRevenue:\nRecurring\nCloud $ 712.9 Bureau 137.8 110.5 27.3 24.7% 13.5% 13.1%\nTotal recurring $ 579.7 850.7 $ 133.2 690.2 23.0% 69.6% 68.8%\n160.5 23.3% 83.1% 81.9%\nProfessional services and\nother\n173.5 152.3 21.2 13.9% 16.9% 18.1%\nTotal revenue 1,024.2 842.5 181.7 21.6% 100.0% 100.0%\nCost of revenue:\nRecurring\nCloud 197.7 166.9 30.8 18.5% 19.3% 19.8%\nBureau 64.7 Total recurring 262.4 213.3 49.1 23.0% 25.6% 25.3%\n46.4 18.3 39.4% 6.3% Professional services and\nother\n19.4%\n194.6 163.7 30.9 18.9% 19.0% 5.5%\nProduct development and\nmanagement\n134.0 83.7 50.3 60.1% 13.1% 9.9%\n50.9 40.5 Gross profit Depreciation and amortization 341.3 10.4 25.7% 4.8%\nTotal cost of revenue 641.9 501.2 140.7 28.1% 62.7% 59.5%\n382.3 41.0 12.0% 37.3% 40.5%\n417.8 333.5 84.3 25.3% 40.8% 39.6%\nInterest expense, net 35.9 25.1 10.8 43.0% 3.5% 3.0%\nSelling, general, and\nadministrative\nOperating profit Other expense, net (35.5) 18.9 (14.9) (7.4)% Adjusted EBITDA margin (b) 15.9% 7.8 2.7 (16.0) (0.5)% 18.9% (43.3) 16.2 1.1 (6.9)% (3.0)% (555.1)% 600.0% 6.9% (1450.6)%\n(15.9)%\n5.0% (3.5)% 1.8% (1.4)% 0.9%\n0.3%\n(1.9)%\nLoss before income taxes (90.3) (20.0) (70.3) (351.5)% (8.8)% (2.4)%\nIncome tax benefit Net loss (75.4) (4.0) (71.4) (1785.0)% (7.4)% (0.5)%\nNet profit margin (a) Adjusted EBITDA (b) $ 162.5 $ 159.0 $ 3.5 2.2% 15.9% 18.9%\n(a) (b) Net profit margin is determined by calculating the percentage that net (loss) income is of total revenue.\nFor a reconciliation of Adjusted EBITDA to net income, please refer to the “Non-GAAP Measures” section.\n33 | 2021 Form 10-K\nRevenue. The following table sets forth certain information regarding our consolidated revenues for periods\npresented:\nYear Ended\nDecember 31,\nPercentage\nchange in\nrevenue as\nreported\nImpact of\nchanges in\nforeign\ncurrency (a)\nPercentage\nchange in\nrevenue on a\nconstant\ncurrency\nbasis (a)\n2021 2020 2021 vs. 2020 2021 vs. 2020\nRevenue:\n159.3 160.2 Total revenue Total Cloud revenue $ 873.1 $ 729.4 19.7% 2.4% 17.3%\nTotal Cloud revenue Total recurring, excluding float (Dollars in millions)\nDayforce recurring, excluding float $ 596.9 $ 463.1 28.9% 1.8% 27.1%\nDayforce float 29.7 37.1 (19.9)% 1.7% Total Dayforce recurring 626.6 500.2 25.3% 1.8% 23.5%\nPowerpay recurring, excluding float 78.2 70.8 10.5% 7.0% Powerpay float 8.1 8.7 (6.9)% 6.9% (13.8)%\nTotal Powerpay recurring 86.3 79.5 8.6% 7.0% Total Cloud recurring 712.9 579.7 23.0% 2.5% 20.5%\nDayforce professional services and\n148.6 7.2% 2.1% (21.6)%\n3.5%\n1.6%\n5.1%\nother\nPowerpay professional services and\n0.9 1.1 (18.2)% (—)% (18.2)%\nother\nTotal Cloud professional services\n149.7 7.0% 2.1% 4.9%\nand other\nTotal Cloud revenue 873.1 729.4 19.7% 2.4% 17.3%\nBureau recurring, excluding float 134.5 104.0 29.3% 1.4% Bureau float 3.3 6.5 (49.2)% (—)% (49.2)%\nTotal Bureau recurring 137.8 110.5 24.7% 1.4% Bureau professional services and other 13.3 2.6 411.5% (11.6)% 423.1%\n151.1 113.1 33.6% 1.1% 27.9%\n23.3%\n32.5%\n$ 785.9 $ 648.8 21.1% 1.8% 19.3%\n87.2 80.6 8.2% 6.8% 1.4%\nDayforce, excluding float $ 756.2 $ 611.7 23.6% 1.8% 21.8%\nPowerpay, excluding float 79.1 Cloud float 37.8 45.8 (17.5)% 2.6% (20.1)%\n$ 873.1 71.9 729.4 10.0% 6.8% 19.7% 2.4% 3.2%\n17.3%\n$ 675.1 26.4% 2.4% Bureau recurring, excluding float 134.5 104.0 29.3% 1.4% 27.9%\n637.9 26.9% 2.3% 24.6%\nTotal Bureau revenue $ 1,024.2 $ 842.5 21.6% 2.2% 19.4%\nDayforce Powerpay Cloud recurring, excluding float $ 533.9 24.0%\n809.6 Total revenue, excluding float $ 983.1 $ 790.2 24.4% 2.2% 22.2%\n(a) Please refer to “Non-GAAP Measures” section for additional information on our constant currency revenue, a non-\nGAAP financial measure.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000178_segments",
      "report_id": "ID_000178",
      "company_name": "Dayforce",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 71:\n\n $ 77.2\nThe acquisition of Ascender, Ideal, DataFuzion, ADAM HCM, and Excelity were recorded using the\nacquisition method of accounting, in which the assets and liabilities assumed are recognized at their fair value.\nAdditionally, after consideration of these acquisitions, management has concluded that we continue to have one\noperating and reportable segment. This conclusion aligns with how management monitors operating performance,\nallocates resources, and deploys capital. Pro forma financial information is not presented as none of the\nacquisitions qualified as a significant business combination individually or in aggregate.\n4. Fair Value Measurements\nFair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an\norderly transaction between market participants at the measurement date (an exit price). GAAP outlines a\nvaluation framework and creates a fair value hierarchy intended to increase the consistency and comparability of\nfair value measurements and the related disclosures. Certain assets and liabilities must be measured at fair\nvalue, and disclosures are required for items measured at fair value.\nWe measure our financial instruments using inputs from the following three levels of the fair value hierarchy.\nThe three levels are as follows:\n Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities.\n Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices\nfor identical or similar assets or liabilities in markets that are not active, inputs other than quoted\nprices that are observable for t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_cash_flow",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 132.6m, \ninvesting: -342.5m, \nfinancing: 870.1m, \ntotal cash flow: 652.1m",
      "golden_context": "Page 43:\n\nStatements of Cash Flows\nChanges in cash flows due to purchases of customer fund marketable securities and proceeds from the sale or\nmaturity of customer fund marketable securities, as well as the carrying value of customer fund accounts as of period end\ndates can vary significantly due to several factors, including the specific day of the week the period ends, which impacts\nthe timing of funds collected from customers and payments made to satisfy customer obligations to employees, taxing\nauthorities, and others. The customer funds are fully segregated from our operating cash accounts and are evaluated and\ntracked separately by management. The table below summarizes the activity within the consolidated statements of cash\nflows:\nYear Ended December 31,\n2022 2021 2020\nNet cash provided by (used in) operating activities $ 132.6 (Dollars in millions)\n$ 48.8 $ (30.2)\nNet cash (used in) provided by investing activities (342.5) (711.1) 38.8\nNet cash provided by financing activities 870.1 407.5 565.3\nEffect of exchange rate on cash and equivalents (8.1) (20.9) (4.0)\nNet increase (decrease) in cash, restricted cash, and equivalents 652.1 (275.7) 569.9\nCash, restricted cash, and equivalents at beginning of period 1,952.8 2,228.5 1,658.6\nCash, restricted cash, and equivalents at end of period 2,604.9 1,952.8 2,228.5\nCash and equivalents $ 431.9 $ 367.5 $ 188.2\nRestricted cash and equivalents 2,173.0 1,585.3 2,040.3\nTotal cash, restricted cash, and equivalents $ 2,604.9 $ 1,952.8 $ 2,228.5\nOperating Activities\nNet cash provided by operating activities was $132.6 million during the year ended December 31, 2022, compared\nto $48.8 during the year ended December 31, 2021. For both periods, cash inflows from operating activities are primarily\ngenerated from the subscriptions of our solutions. Cash outflows from operating activities for both periods are primarily\ncomprised of personnel-related expenditures that are integral to our business operations. The net positive cash inflow in\nboth periods is primarily due to our growing revenue and collections of such revenue, partially offset by our operating\ncosts, mainly, investment in our sales force to support our growth initiatives and our product development and\nmanagement costs which are not eligible for capitalization.\nInvesting Activities\nDuring the year ended December 31, 2022, net cash used in investing activities was $342.5 million, related to net\npurchases of customer funds marketable securities of $248.0 million, and capital expenditures of $94.5 million. Our capital\nexpenditures included $74.3 million for software and technology and $20.2 million for property and equipment.\nDuring the year ended December 31, 2021, net cash used in investing activities was $711.1 million, related to\nacquisition costs, net of cash acquired, of $409.5 million, net purchase of customer funds marketable securities of $275.8\nmillion, and capital expenditures of $63.7 million. Our capital expenditures included $52.2 million for software and\ntechnology and $11.5 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_company_type",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE\nTRANSITION PERIOD FROM TO\nCommission File Number 001-38467\nCeridian HCM Holding Inc.\n(Exact name of Registrant as specified in its Charter)\nDelaware 46-3231686\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n3311 East Old Shakopee Road\nMinneapolis, Minnesota 55425\n(952) 853-8100\n(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $.01 par value CDAY New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☒ NO ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐ NO ☒\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. YES ☒ NO ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter peri",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_key_financials",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "5.95m active global users, 1.2bn total revenue, 30.1% in Dayforce recurring revenue, 31.7% on constant currency basis",
      "golden_context": "Page 2:\n\n we reflect on the past year, we are tremendously proud of Ceridian’s performance as we exceeded guidance\nacross all revenue and profitability metrics.\nWe achieved several remarkable milestones including the delivery of more than $1.2 billion in total revenue.\nThis was driven by a 30.1% increase in Dayforce recurring revenue or 31.7% on a constant currency basis. On\nthe Dayforce platform, we are proud to now have 5.95 million active global users and 5,993 customers live, and\nwe have maintained our Dayforce retention rate of 97.1%.1\nWe also continued to drive market leadership and achieved important validation underscoring our differentiation.\nFor the third consecutive year, Ceridian was named a leader in the 2022 Gartner® Magic Quadrant™ for Cloud\nHCM Suites for 1,000+ employee enterprises, driven by Ceridian’s Ability to Execute and Completeness of\nVision. Ceridian was recognized as the only true HCM vendor among Enterprise Resource Planning (ERP)\nvendors in the Leaders Quadrant.\nExtending Dayforce innovation\nWe continued to drive a strong innovation agenda backed by a highly differentiated product suite. In 2022, our\ncontinued investment in the Dayforce platform resulted in 39% of customers purchasing the Dayforce suite, and\nmore than 25% of sales representing add-ons to existing customer base.\nAdditionally in 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_revenue",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1246.2m",
      "golden_context": "Page 39:\n\nRevenue. The following table sets forth certain information regarding our consolidated revenues for periods\npresented:\nPercentage\nchange in\nrevenue on a\nYear Ended\nPercentage\nchange in\nrevenue as\nImpact of\nDecember 31,\nreported\nchanges in\nforeign\ncurrency (a)\nconstant\ncurrency\nbasis (a)\n2022 2021 2022 vs. 2021 2022 vs. 2021\n(Dollars in millions)\nRevenue:\nDayforce recurring, excluding float $ 752.8 $ 596.9 26.1% (1.6)% 27.7%\nDayforce float 62.4 29.7 110.1% (3.0)% 113.1%\nTotal Dayforce recurring 815.2 626.6 30.1% (1.6)% 31.7%\nPowerpay recurring, excluding float 80.7 78.2 3.2% (4.0)% 7.2%\nPowerpay float 12.5 8.1 54.3% (7.4)% 61.7%\nTotal Powerpay recurring 93.2 86.3 8.0% (4.3)% 12.3%\nTotal Cloud recurring 908.4 712.9 27.4% (2.0)% 29.4%\nDayforce professional services and other 181.7 159.3 14.1% (2.5)% 16.6%\nPowerpay professional services and other 0.7 0.9 (22.2)% (—)% (22.2)%\nTotal Cloud professional services and\n182.4 160.2 13.9% (2.5)% 16.4%\nother\nTotal Cloud revenue 1,090.8 873.1 24.9% (2.1)% 27.0%\nBureau recurring, excluding float 133.9 134.5 (0.4)% (3.6)% 3.2%\nBureau float 5.3 3.3 60.6% (3.0)% 63.6%\nTotal Bureau recurring 139.2 137.8 1.0% (3.6)% 4.6%\nBureau professional services and other 16.2 13.3 21.8% (6.8)% 28.6%\nTotal Bureau revenue 155.4 151.1 2.8% (4.0)% 6.8%\nTotal revenue $ 1,246.2 $ 1,024.2 21.7% (2.3)% 24.0%\nDayforce $ 996.9 $ 785.9 26.8% (1.9)% 28.7%\nPowerpay 93.9 87.2 7.7% (4.2)% 11.9%\nTotal Cloud revenue $ 1,090.8 $ 873.1 24.9% (2.1)% 27.0%\nDayforce, excluding float $ 934.5 $ 756.2 23.6% (1.7)% 25.3%\nPowerpay, excluding float 81.4 79.1 2.9% (3.9)% 6.8%\nCloud revenue, excluding float 1,015.9 835.3 21.6% (2.0)% 23.6%\nCloud float 74.9 37.8 98.1% (4.0)% 102.1%\nTotal Cloud revenue $ 1,090.8 $ 873.1 24.9% (2.1)% 27.0%\nCloud recurring, excluding float $ 833.5 $ 675.1 23.5% (1.8)% 25.3%\nBureau recurring, excluding float 133.9 134.5 (0.4)% (3.6)% 3.2%\nTotal recurring, excluding float 967.4 809.6 19.5% (2.1)% 21.6%\nTotal revenue, excluding float $ 1,166.0 $ 983.1 18.6% (2.3)% 20.9%\n(a) We have calculated revenue on a constant currency by applying the average foreign exchange rate in effect during\nthe comparable prior period.\nTotal revenue increased $222.0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_revenue_growth",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "1246.2m, 1024.2m in the prior year",
      "golden_context": "Page 39:\n\nRevenue. The following table sets forth certain information regarding our consolidated revenues for periods\npresented:\nPercentage\nchange in\nrevenue on a\nYear Ended\nPercentage\nchange in\nrevenue as\nImpact of\nDecember 31,\nreported\nchanges in\nforeign\ncurrency (a)\nconstant\ncurrency\nbasis (a)\n2022 2021 2022 vs. 2021 2022 vs. 2021\n(Dollars in millions)\nRevenue:\nDayforce recurring, excluding float $ 752.8 $ 596.9 26.1% (1.6)% 27.7%\nDayforce float 62.4 29.7 110.1% (3.0)% 113.1%\nTotal Dayforce recurring 815.2 626.6 30.1% (1.6)% 31.7%\nPowerpay recurring, excluding float 80.7 78.2 3.2% (4.0)% 7.2%\nPowerpay float 12.5 8.1 54.3% (7.4)% 61.7%\nTotal Powerpay recurring 93.2 86.3 8.0% (4.3)% 12.3%\nTotal Cloud recurring 908.4 712.9 27.4% (2.0)% 29.4%\nDayforce professional services and other 181.7 159.3 14.1% (2.5)% 16.6%\nPowerpay professional services and other 0.7 0.9 (22.2)% (—)% (22.2)%\nTotal Cloud professional services and\n182.4 160.2 13.9% (2.5)% 16.4%\nother\nTotal Cloud revenue 1,090.8 873.1 24.9% (2.1)% 27.0%\nBureau recurring, excluding float 133.9 134.5 (0.4)% (3.6)% 3.2%\nBureau float 5.3 3.3 60.6% (3.0)% 63.6%\nTotal Bureau recurring 139.2 137.8 1.0% (3.6)% 4.6%\nBureau professional services and other 16.2 13.3 21.8% (6.8)% 28.6%\nTotal Bureau revenue 155.4 151.1 2.8% (4.0)% 6.8%\nTotal revenue $ 1,246.2 $ 1,024.2 21.7% (2.3)% 24.0%\nDayforce $ 996.9 $ 785.9 26.8% (1.9)% 28.7%\nPowerpay 93.9 87.2 7.7% (4.2)% 11.9%\nTotal Cloud revenue $ 1,090.8 $ 873.1 24.9% (2.1)% 27.0%\nDayforce, excluding float $ 934.5 $ 756.2 23.6% (1.7)% 25.3%\nPowerpay, excluding float 81.4 79.1 2.9% (3.9)% 6.8%\nCloud revenue, excluding float 1,015.9 835.3 21.6% (2.0)% 23.6%\nCloud float 74.9 37.8 98.1% (4.0)% 102.1%\nTotal Cloud revenue $ 1,090.8 $ 873.1 24.9% (2.1)% 27.0%\nCloud recurring, excluding float $ 833.5 $ 675.1 23.5% (1.8)% 25.3%\nBureau recurring, excluding float 133.9 134.5 (0.4)% (3.6)% 3.2%\nTotal recurring, excluding float 967.4 809.6 19.5% (2.1)% 21.6%\nTotal revenue, excluding float $ 1,166.0 $ 983.1 18.6% (2.3)% 20.9%\n(a) We have calculated revenue on a constant currency by applying the average foreign exchange rate in effect during\nthe comparable prior period.\nTotal revenue increased $222.0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000179_segments",
      "report_id": "ID_000179",
      "company_name": "Dayforce",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment. ",
      "golden_context": "Page 70:\n\nodwill Other intangible assets Other assets Accounts payable and other current liabilities (Dollars in millions)\n$ 0.2\n0.9\n24.0\n10.8\n0.2\n(1.6)\nTotal purchase price $ 34.5\nThe acquisition of Ascender, Ideal, DataFuzion, and ADAM HCM were recorded using the acquisition\nmethod of accounting, in which the assets and liabilities assumed are recognized at their fair value. Additionally,\nafter consideration of these acquisitions, management has concluded that we continue to have one operating and\nreportable segment. This conclusion aligns with how management monitors operating performance, allocates\nresources, and deploys capital. Pro forma financial information is not presented as none of the acquisitions\nqualified as a significant business combination individually or in aggregate.\n4. Fair Value Measurements\nFair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an\norderly transaction between market participants at the measurement date (an exit price). GAAP outlines a\nvaluation framework and creates a fair value hierarchy intended to increase the consistency and comparability of\nfair value measurements and the related disclosures. Certain assets and liabilities must be measured at fair\nvalue, and disclosu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_cash_flow",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flows 219m",
      "golden_context": "Page 2:\n\nDear Fellow Dayforce Stockholders,\nAs I reflect on 2023, I am proud to report that Dayforce delivered another solid year, driving durable and\nprofitable growth. We maintained strong revenue growth rates, showed improvement across all key measures of\nprofitability, and delivered operating cash flow at record levels.\n• Annual revenue was $1.51 billion, a year-over-year increase of 21.5% or 22.8% on a constant currency\nbasis.\n• Dayforce recurring revenue reached a new milestone as it surpassed the billion-dollar mark and\ngenerated recurring revenue of $1.11 billion, a year-over-year increase of 36.3% or 37.2% on a\nconstant currency basis.\n• Net Income was $55 million, an increase of $128 million year-over-year, and Adjusted EBITDA was\n$410 million, or 27.1% percent of revenue, expanding 700 basis points year-over-year.\n• Operating cash flows were $219 million, a conversion of 54% from Adjusted EBITDA, and a year-\nover-year increase of 65.5%.\nThe Dayforce platform is deployed by over 6,393 customers, representing more than 6.84 million active users.\nCustomers recognize our ability to drive quantifiable value and we proudly maintained a best-in-class 97.1%\nrevenue retention rate. Nearly 50% of new Dayforce customers attach the full HCM suite, approximately 30% of\nsales were add-on sales to existing customers, and today 40% of our customers have adopted a full Dayforce\nsuite.\nOur market leadership continues to be recognized, and for the fourth consecutive year, Dayforce was named a\nleader in the 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ employee enterprises.\nWe entered 2024 with a record pipeline and excitement for what is ahead for our global community of customers,\npartners, and employees. As a unified brand – Dayforce – we firmly believe that we can amplify our brand\npromise to make work life better.\nThe workforce of today is boundless: fluid, always-on, and borderless. Our changing world of work makes\nrunning an organization more complex than ever, and we’re committed to helping organizations conquer that\ncomplexity by delivering simplicity at scale.\nWe continue to i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_company_type",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 4:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE\nTRANSITION PERIOD FROM TO\nCommission File Number 001-38467\nDayforce, Inc.\n(Exact name of Registrant as specified in its Charter)\nDelaware 46-3231686\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n3311 East Old Shakopee Road\nMinneapolis, Minnesota 55425\n(952) 853-8100\n(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $.01 par value DAY New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☒ NO ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐ NO ☒\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. YES ☒ NO ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES ☒ NO ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of\nthe Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Small reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☒\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by\nany of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☒\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒\nThe aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the $66.97 closing price of the shares of\ncommon stock on the New York Stock Exchange on June 30, 2023, was $10.2 billion.\nThe number of shares of Registrant’s Common Stock outstanding as of February 23, 2024 was 156.6 million.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant’s Definitive Proxy Statement relating to the 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this\nAnnual Report on Form 10-K. Such Definitive Proxy Statement will be filed with the Securities and E",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_key_financials",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "annual revenue 1.51bn, net income 55m, operating cash flow 219m",
      "golden_context": "Page 2:\n\nDear Fellow Dayforce Stockholders,\nAs I reflect on 2023, I am proud to report that Dayforce delivered another solid year, driving durable and\nprofitable growth. We maintained strong revenue growth rates, showed improvement across all key measures of\nprofitability, and delivered operating cash flow at record levels.\n• Annual revenue was $1.51 billion, a year-over-year increase of 21.5% or 22.8% on a constant currency\nbasis.\n• Dayforce recurring revenue reached a new milestone as it surpassed the billion-dollar mark and\ngenerated recurring revenue of $1.11 billion, a year-over-year increase of 36.3% or 37.2% on a\nconstant currency basis.\n• Net Income was $55 million, an increase of $128 million year-over-year, and Adjusted EBITDA was\n$410 million, or 27.1% percent of revenue, expanding 700 basis points year-over-year.\n• Operating cash flows were $219 million, a conversion of 54% from Adjusted EBITDA, and a year-\nover-year increase of 65.5%.\nThe Dayforce platform is deployed by over 6,393 customers, representing more than 6.84 million active users.\nCustomers recognize our ability to drive quantifiable value and we proudly maintained a best-in-class 97.1%\nrevenue retention rate. Nearly 50% of new Dayforce customers attach the full HCM suite, approximately 30% of\nsales were add-on sales to existing customers, and today 40% of our customers have adopted a full Dayforce\nsuite.\nOur market leadership continues to be recognized, and for the fourth consecutive year, Dayforce was named a\nleader in the 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ employee enterprises.\nWe entered 2024 with a record pipeline and excitement for what is ahead for our global community of customers,\npartners, and employees. As a unified brand – Dayforce – we firmly believe that we can amplify our brand\npromise to make work life better.\nThe workforce of today is boundless: fluid, always-on, and borderless. Our changing world of work makes\nrunning an organization more complex than ever, and we’re committed to helping organizations conquer that\ncomplexity by delivering simplicity at scale.\nWe continue to i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_revenue",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1513.7m",
      "golden_context": "Page 37:\n\nResults of Operations\nYear Ended December 31, 2023 Compared with Year Ended December 31, 2022\nThe following table sets forth our results of operations for the periods presented:\nYear Ended December 31, Increase/(Decrease) Percentage of Revenue\n2023 2022 Amount % 2023 2022\n(In millions)\nRevenue:\nRecurring\nCloud $ 1,211.4 $ 908.4 $ 303.0 33.4% 80.0% 72.9%\nOther 85.9 139.2 (53.3) (38.3)% 5.7% 11.2%\nTotal recurring 1,297.3 1,047.6 249.7 23.8% 85.7% 84.1%\nProfessional services and other 216.4 198.6 17.8 9.0% 14.3% 15.9%\nTotal revenue 1,513.7 1,246.2 267.5 21.5% 100.0% 100.0%\nCost of revenue:\nRecurring\nCloud 278.5 254.4 24.1 9.5% 18.4% 20.4%\nOther 46.4 55.0 (8.6) (15.6)% 3.1% 4.4%\nTotal recurring 324.9 309.4 15.5 5.0% 21.5% 24.8%\nProfessional services and other 265.6 238.7 26.9 11.3% 17.5% 19.2%\nProduct development and management 209.9 169.9 40.0 23.5% 13.9% 13.6%\nDepreciation and amortization 66.8 55.0 11.8 21.5% 4.4% 4.4%\nTotal cost of revenue 867.2 773.0 94.2 12.2% 57.3% 62.0%\nGross profit 646.5 473.2 173.3 36.6% 42.7% 38.0%\nSelling and marketing 250.2 251.5 (1.3) (0.5)% 16.5% 20.2%\nGeneral and administrative 263.2 247.5 15.7 6.3% 17.4% 19.8%\nOperating profit (loss) 133.1 (25.8) 158.9 615.9% 8.8% (2.1)%\nInterest expense, net 36.1 28.6 7.5 26.2% 2.4% 2.3%\nOther expense, net 1.0 8.5 (7.5) (88.2)% 0.1% 0.7%\nIncome (loss) before income taxes 96.0 (62.9) 158.9 252.6% 6.3% (5.0)%\nIncome tax expense 41.2 10.5 30.7 292.4% 2.7% 0.8%\nNet income (loss) $ 54.8 $ (73.4) $ 128.2 174.7% 3.6% (5.9)%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_revenue_growth",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "1513.7m, prior year 1246.2m",
      "golden_context": "Page 37:\n\nResults of Operations\nYear Ended December 31, 2023 Compared with Year Ended December 31, 2022\nThe following table sets forth our results of operations for the periods presented:\nYear Ended December 31, Increase/(Decrease) Percentage of Revenue\n2023 2022 Amount % 2023 2022\n(In millions)\nRevenue:\nRecurring\nCloud $ 1,211.4 $ 908.4 $ 303.0 33.4% 80.0% 72.9%\nOther 85.9 139.2 (53.3) (38.3)% 5.7% 11.2%\nTotal recurring 1,297.3 1,047.6 249.7 23.8% 85.7% 84.1%\nProfessional services and other 216.4 198.6 17.8 9.0% 14.3% 15.9%\nTotal revenue 1,513.7 1,246.2 267.5 21.5% 100.0% 100.0%\nCost of revenue:\nRecurring\nCloud 278.5 254.4 24.1 9.5% 18.4% 20.4%\nOther 46.4 55.0 (8.6) (15.6)% 3.1% 4.4%\nTotal recurring 324.9 309.4 15.5 5.0% 21.5% 24.8%\nProfessional services and other 265.6 238.7 26.9 11.3% 17.5% 19.2%\nProduct development and management 209.9 169.9 40.0 23.5% 13.9% 13.6%\nDepreciation and amortization 66.8 55.0 11.8 21.5% 4.4% 4.4%\nTotal cost of revenue 867.2 773.0 94.2 12.2% 57.3% 62.0%\nGross profit 646.5 473.2 173.3 36.6% 42.7% 38.0%\nSelling and marketing 250.2 251.5 (1.3) (0.5)% 16.5% 20.2%\nGeneral and administrative 263.2 247.5 15.7 6.3% 17.4% 19.8%\nOperating profit (loss) 133.1 (25.8) 158.9 615.9% 8.8% (2.1)%\nInterest expense, net 36.1 28.6 7.5 26.2% 2.4% 2.3%\nOther expense, net 1.0 8.5 (7.5) (88.2)% 0.1% 0.7%\nIncome (loss) before income taxes 96.0 (62.9) 158.9 252.6% 6.3% (5.0)%\nIncome tax expense 41.2 10.5 30.7 292.4% 2.7% 0.8%\nNet income (loss) $ 54.8 $ (73.4) $ 128.2 174.7% 3.6% (5.9)%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000180_segments",
      "report_id": "ID_000180",
      "company_name": "Dayforce",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 63:\n\n materially impact the net earnings of the periods subsequent to the acquisition through depreciation and\namortization, and in certain instances through impairment charges, if the asset becomes impaired in the future.\nDuring the measurement period, any purchase price allocation changes that impact the carrying value of goodwill\naffects any measurement of goodwill impairment taken during the measurement period, if applicable. If necessary,\npurchase price allocation revisions that occur outside of the measurement period are recorded within our\nconsolidated statement of operations depending on the nature of the adjustment.\nSegment Information\nWe operate as a single reporting unit, a single operating segment and a single reporting segment. Operating\nsegments are defined as components of an enterprise about which separate financial information is evaluated\nregularly by the chief operating decision maker in deciding how to allocate resources and assessing performance.\nOur chief operating decision maker is our chief executive officer (\"CEO\").\nGoodwill and Intangible Assets\nGoodwill represents the excess of purchase consideration transferred over the estimated fair value of the identifiable\nnet assets acquired in a business combination. Goodwill and our indefinite-lived intangible asset, the Dayforce trade\nname, are not amortized against earnings, but instead are tested for impairment on an annual basis, or more\nfrequently if certain events or circumstances occur that could indicate impairment. We perform our annual\nimpairment assessment of goodwill and the Dayforce trade name as of October 1.\nWe assess goodwill for impairment by performing a qualitative review of the reporting unit. If the qualitative\nassessment indicates it is more likely than not the fair value of the reporting unit is less than the carrying amount,\na quantitative test is applied and, the carrying amount is compared to its estimated fair value. The estimated fair\nvalue is based on our market capitalization at the testing date. If the carrying amount of the goodwill exceeds the\nfair value of the reporting unit, goodwill may be impaired. To the extent that the carrying amount of the reporting\nunit exceeds the fair valu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_cash_flow",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 689.7m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2021 2020 $ Change % Change\nNet revenues $ 4,735.4 $ 4,445.1 $ 290.3 7 %\nGross margin $ 2,740.1 $ 2,573.7 $ 166.4 6 %\nPercentage of net revenues 57.9 % 57.9 %\nOperating income $ 387.5 $ 353.1 $ 34.4 10 %\nPercentage of net revenues 8.2 % 7.9 %\nNet income $ 252.7 $ 257.8 $ (5.1) (2) %\nPercentage of net revenues 5.3 % 5.8 %\nNet income per share\nBasic $ 0.78 $ 0.78 $ — — %\nDiluted $ 0.76 $ 0.77 $ (0.01) (1) %\nOperating cash flows $ 689.7 $ 612.0 $ 77.7 13 %\nStock repurchase plan activity $ 433.3 $ 375.0 $ 58.3 16 %\nCash dividends declared per common stock $ 0.80 $ 0.80 $ — — %\nDSO (1)\n69 71 (2) (3) %\nDeferred revenue:\nDeferred product revenue $ 129.1 $ 104.7 $ 24.4 23 %\nDeferred service revenue $ 1,284.5 $ 1,181.1 $ 103.4 9 %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\nDeferred revenue from customer solutions (2)\n$ 442.1 $ 316.4 $ 125.7 40 %\nDeferred revenue from hardware maintenance and professional services $ 971.5 $ 969.4 $ 2.1 — %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\n________________________________\n(1)\n(2)\nDSO is for the fourth quarter ended December 31, 2021, and 2020.\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2021 compared to 2020 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of hardware maintenance and software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues was flat during 2021 compared to 2020. Product gross margin decreased primarily due to\nhigher intangible amortization associated with the acquisitions of Apstra, 128 Technology and Netrounds, and to a lesser extent, logistics and other\nsupply chain costs related to the COVI",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_company_type",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from__________ to____________\nCommission file number 001-34501\nJUNIPER NETWORKS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 77-0422528\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1133 Innovation Way\nSunnyvale, California 94089\n(Address of principal executive offices) (Zip code)\n(408) 745-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.00001 per share Trading Symbol JNPR Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months\n(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filings requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See\nthe definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of voting common stock held by non-affiliates of the registrant was approximately $8,749,000,000 as of June 30, 2021, the last business day of the\nregistrant’s most recently completed second fiscal quarter (based on the closing sales price for the common stock on the New York Stock Exchange on such date).\nAs of February 9, 2022, there were 322,758,505 shares of the registrant's common st",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_key_financials",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "net revenues 4735.4m, net income per share basic 0.78",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2021 2020 $ Change % Change\nNet revenues $ 4,735.4 $ 4,445.1 $ 290.3 7 %\nGross margin $ 2,740.1 $ 2,573.7 $ 166.4 6 %\nPercentage of net revenues 57.9 % 57.9 %\nOperating income $ 387.5 $ 353.1 $ 34.4 10 %\nPercentage of net revenues 8.2 % 7.9 %\nNet income $ 252.7 $ 257.8 $ (5.1) (2) %\nPercentage of net revenues 5.3 % 5.8 %\nNet income per share\nBasic $ 0.78 $ 0.78 $ — — %\nDiluted $ 0.76 $ 0.77 $ (0.01) (1) %\nOperating cash flows $ 689.7 $ 612.0 $ 77.7 13 %\nStock repurchase plan activity $ 433.3 $ 375.0 $ 58.3 16 %\nCash dividends declared per common stock $ 0.80 $ 0.80 $ — — %\nDSO (1)\n69 71 (2) (3) %\nDeferred revenue:\nDeferred product revenue $ 129.1 $ 104.7 $ 24.4 23 %\nDeferred service revenue $ 1,284.5 $ 1,181.1 $ 103.4 9 %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\nDeferred revenue from customer solutions (2)\n$ 442.1 $ 316.4 $ 125.7 40 %\nDeferred revenue from hardware maintenance and professional services $ 971.5 $ 969.4 $ 2.1 — %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\n________________________________\n(1)\n(2)\nDSO is for the fourth quarter ended December 31, 2021, and 2020.\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2021 compared to 2020 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of hardware maintenance and software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues was flat during 2021 compared to 2020. Product gross margin decreased primarily due to\nhigher intangible amortization associated with the acquisitions of Apstra, 128 Technology and Netrounds, and to a lesser extent, logistics and other\nsupply chain costs related to the COVI",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_revenue",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "4735.4m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2021 2020 $ Change % Change\nNet revenues $ 4,735.4 $ 4,445.1 $ 290.3 7 %\nGross margin $ 2,740.1 $ 2,573.7 $ 166.4 6 %\nPercentage of net revenues 57.9 % 57.9 %\nOperating income $ 387.5 $ 353.1 $ 34.4 10 %\nPercentage of net revenues 8.2 % 7.9 %\nNet income $ 252.7 $ 257.8 $ (5.1) (2) %\nPercentage of net revenues 5.3 % 5.8 %\nNet income per share\nBasic $ 0.78 $ 0.78 $ — — %\nDiluted $ 0.76 $ 0.77 $ (0.01) (1) %\nOperating cash flows $ 689.7 $ 612.0 $ 77.7 13 %\nStock repurchase plan activity $ 433.3 $ 375.0 $ 58.3 16 %\nCash dividends declared per common stock $ 0.80 $ 0.80 $ — — %\nDSO (1)\n69 71 (2) (3) %\nDeferred revenue:\nDeferred product revenue $ 129.1 $ 104.7 $ 24.4 23 %\nDeferred service revenue $ 1,284.5 $ 1,181.1 $ 103.4 9 %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\nDeferred revenue from customer solutions (2)\n$ 442.1 $ 316.4 $ 125.7 40 %\nDeferred revenue from hardware maintenance and professional services $ 971.5 $ 969.4 $ 2.1 — %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\n________________________________\n(1)\n(2)\nDSO is for the fourth quarter ended December 31, 2021, and 2020.\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2021 compared to 2020 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of hardware maintenance and software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues was flat during 2021 compared to 2020. Product gross margin decreased primarily due to\nhigher intangible amortization associated with the acquisitions of Apstra, 128 Technology and Netrounds, and to a lesser extent, logistics and other\nsupply chain costs related to the COVI",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_revenue_growth",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "4735.4m, prior year 445.1m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2021 2020 $ Change % Change\nNet revenues $ 4,735.4 $ 4,445.1 $ 290.3 7 %\nGross margin $ 2,740.1 $ 2,573.7 $ 166.4 6 %\nPercentage of net revenues 57.9 % 57.9 %\nOperating income $ 387.5 $ 353.1 $ 34.4 10 %\nPercentage of net revenues 8.2 % 7.9 %\nNet income $ 252.7 $ 257.8 $ (5.1) (2) %\nPercentage of net revenues 5.3 % 5.8 %\nNet income per share\nBasic $ 0.78 $ 0.78 $ — — %\nDiluted $ 0.76 $ 0.77 $ (0.01) (1) %\nOperating cash flows $ 689.7 $ 612.0 $ 77.7 13 %\nStock repurchase plan activity $ 433.3 $ 375.0 $ 58.3 16 %\nCash dividends declared per common stock $ 0.80 $ 0.80 $ — — %\nDSO (1)\n69 71 (2) (3) %\nDeferred revenue:\nDeferred product revenue $ 129.1 $ 104.7 $ 24.4 23 %\nDeferred service revenue $ 1,284.5 $ 1,181.1 $ 103.4 9 %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\nDeferred revenue from customer solutions (2)\n$ 442.1 $ 316.4 $ 125.7 40 %\nDeferred revenue from hardware maintenance and professional services $ 971.5 $ 969.4 $ 2.1 — %\nTotal $ 1,413.6 $ 1,285.8 $ 127.8 10 %\n________________________________\n(1)\n(2)\nDSO is for the fourth quarter ended December 31, 2021, and 2020.\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2021 compared to 2020 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of hardware maintenance and software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues was flat during 2021 compared to 2020. Product gross margin decreased primarily due to\nhigher intangible amortization associated with the acquisitions of Apstra, 128 Technology and Netrounds, and to a lesser extent, logistics and other\nsupply chain costs related to the COVI",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000181_segments",
      "report_id": "ID_000181",
      "company_name": "Juniper",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 95:\n\nNotes to Consolidated Financial Statements (Continued)\nNote 12. Segments\nThe Company operates in one reportable segment. The Company's chief executive officer, who is the chief operating decision maker, reviews financial information\npresented on a consolidated basis for purposes of allocating resources and evaluating financial performance, accompanied by disaggregated information about net\nrevenues by customer solution, customer vertical, and geographic region as presented below.\nEffective in the first quarter of fiscal year 2021, the Company began reporting its revenue by customer solution in the following three categories: Automated WAN\nSolutions, Cloud-Ready Data Center, AI-Driven Enterprise. In addition, the Company began reporting Hardware Maintenance and Professional Services in the first\nquarter of fiscal year 2021. The change provides for alignment on key growth drivers that is aligned with the Company's strategy.\nThe following table presents net revenues by cu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_cash_flow",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flows 97.6m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2022 2021 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,301.2 $ 4,735.4 $ 565.8 12 %\n$ 2,958.3 $ 2,740.1 $ 218.2 8 %\n55.8 % 57.9 %\n$ 519.1 $ 387.5 $ 131.6 34 %\nPercentage of net revenues 9.8 % 8.2 %\n$ 471.0 $ 252.7 $ 218.3 86 %\nPercentage of net revenues 8.9 % 5.3 %\n$ 1.46 $ 0.78 $ 0.68 87 %\n$ 1.43 $ 0.76 $ 0.67 88 %\nOperating cash flows Stock repurchase plan activity DSO (1)\n$ 97.6 $ 689.7 $ (592.1) (86)%\n$ 299.7 $ 433.3 $ (133.6) (31)%\nCash dividends declared per common stock $ 0.84 $ 0.80 $ 0.04 5 %\n76 69 7 10 %\nDeferred revenue:\nDeferred product revenue Total $ 108.8 $ 129.1 $ (20.3) (16)%\nDeferred service revenue 1,554.3 1,284.5 269.8 21 %\n$ 1,663.1 $ 1,413.6 $ 249.5 18 %\n(2)\nDeferred revenue from customer solutions $ 632.8 $ 442.1 $ 190.7 43 %\nDeferred revenue from hardware maintenance and professional services 1,030.3 971.5 58.8 6 %\nTotal $ 1,663.1 $ 1,413.6 $ 249.5 18 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2022, and 2021.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2022 compared to 2021 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues decreased during 2022 compared to 2021. Product gross margin decreased primarily\ndue to incremental component costs due to supply chain constraints and product mix, partially offset by higher software revenue and pricing actions.\nThe decrease in product gross margin was partially offset by the increase in service gross margin, which was primarily due to higher revenue and\nlower service delivery costs.\n• Operating Margin: Operating income as a percentage of net ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_company_type",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n__________\n____________\nCommission file number 001-34501\nJUNIPER NETWORKS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 77-0422528\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1133 Innovation Way\nSunnyvale, California 94089\n(Address of principal executive offices) (Zip code)\n(408) 745-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.00001 per share Trading Symbol JNPR Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filings requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_key_financials",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "5301.2m, 4735.4m, net income 471m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2022 2021 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,301.2 $ 4,735.4 $ 565.8 12 %\n$ 2,958.3 $ 2,740.1 $ 218.2 8 %\n55.8 % 57.9 %\n$ 519.1 $ 387.5 $ 131.6 34 %\nPercentage of net revenues 9.8 % 8.2 %\n$ 471.0 $ 252.7 $ 218.3 86 %\nPercentage of net revenues 8.9 % 5.3 %\n$ 1.46 $ 0.78 $ 0.68 87 %\n$ 1.43 $ 0.76 $ 0.67 88 %\nOperating cash flows Stock repurchase plan activity DSO (1)\n$ 97.6 $ 689.7 $ (592.1) (86)%\n$ 299.7 $ 433.3 $ (133.6) (31)%\nCash dividends declared per common stock $ 0.84 $ 0.80 $ 0.04 5 %\n76 69 7 10 %\nDeferred revenue:\nDeferred product revenue Total $ 108.8 $ 129.1 $ (20.3) (16)%\nDeferred service revenue 1,554.3 1,284.5 269.8 21 %\n$ 1,663.1 $ 1,413.6 $ 249.5 18 %\n(2)\nDeferred revenue from customer solutions $ 632.8 $ 442.1 $ 190.7 43 %\nDeferred revenue from hardware maintenance and professional services 1,030.3 971.5 58.8 6 %\nTotal $ 1,663.1 $ 1,413.6 $ 249.5 18 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2022, and 2021.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2022 compared to 2021 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues decreased during 2022 compared to 2021. Product gross margin decreased primarily\ndue to incremental component costs due to supply chain constraints and product mix, partially offset by higher software revenue and pricing actions.\nThe decrease in product gross margin was partially offset by the increase in service gross margin, which was primarily due to higher revenue and\nlower service delivery costs.\n• Operating Margin: Operating income as a percentage of net ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_revenue",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "5301.2m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2022 2021 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,301.2 $ 4,735.4 $ 565.8 12 %\n$ 2,958.3 $ 2,740.1 $ 218.2 8 %\n55.8 % 57.9 %\n$ 519.1 $ 387.5 $ 131.6 34 %\nPercentage of net revenues 9.8 % 8.2 %\n$ 471.0 $ 252.7 $ 218.3 86 %\nPercentage of net revenues 8.9 % 5.3 %\n$ 1.46 $ 0.78 $ 0.68 87 %\n$ 1.43 $ 0.76 $ 0.67 88 %\nOperating cash flows Stock repurchase plan activity DSO (1)\n$ 97.6 $ 689.7 $ (592.1) (86)%\n$ 299.7 $ 433.3 $ (133.6) (31)%\nCash dividends declared per common stock $ 0.84 $ 0.80 $ 0.04 5 %\n76 69 7 10 %\nDeferred revenue:\nDeferred product revenue Total $ 108.8 $ 129.1 $ (20.3) (16)%\nDeferred service revenue 1,554.3 1,284.5 269.8 21 %\n$ 1,663.1 $ 1,413.6 $ 249.5 18 %\n(2)\nDeferred revenue from customer solutions $ 632.8 $ 442.1 $ 190.7 43 %\nDeferred revenue from hardware maintenance and professional services 1,030.3 971.5 58.8 6 %\nTotal $ 1,663.1 $ 1,413.6 $ 249.5 18 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2022, and 2021.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2022 compared to 2021 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues decreased during 2022 compared to 2021. Product gross margin decreased primarily\ndue to incremental component costs due to supply chain constraints and product mix, partially offset by higher software revenue and pricing actions.\nThe decrease in product gross margin was partially offset by the increase in service gross margin, which was primarily due to higher revenue and\nlower service delivery costs.\n• Operating Margin: Operating income as a percentage of net ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_revenue_growth",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "5301.2m, 4735.4m",
      "golden_context": "Page 41:\n\nExecutive Overview\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2022 2021 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,301.2 $ 4,735.4 $ 565.8 12 %\n$ 2,958.3 $ 2,740.1 $ 218.2 8 %\n55.8 % 57.9 %\n$ 519.1 $ 387.5 $ 131.6 34 %\nPercentage of net revenues 9.8 % 8.2 %\n$ 471.0 $ 252.7 $ 218.3 86 %\nPercentage of net revenues 8.9 % 5.3 %\n$ 1.46 $ 0.78 $ 0.68 87 %\n$ 1.43 $ 0.76 $ 0.67 88 %\nOperating cash flows Stock repurchase plan activity DSO (1)\n$ 97.6 $ 689.7 $ (592.1) (86)%\n$ 299.7 $ 433.3 $ (133.6) (31)%\nCash dividends declared per common stock $ 0.84 $ 0.80 $ 0.04 5 %\n76 69 7 10 %\nDeferred revenue:\nDeferred product revenue Total $ 108.8 $ 129.1 $ (20.3) (16)%\nDeferred service revenue 1,554.3 1,284.5 269.8 21 %\n$ 1,663.1 $ 1,413.6 $ 249.5 18 %\n(2)\nDeferred revenue from customer solutions $ 632.8 $ 442.1 $ 190.7 43 %\nDeferred revenue from hardware maintenance and professional services 1,030.3 971.5 58.8 6 %\nTotal $ 1,663.1 $ 1,413.6 $ 249.5 18 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2022, and 2021.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2022 compared to 2021 across all of our verticals, customer solutions, and geographies. Service net\nrevenues increased primarily due to strong sales of software subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues decreased during 2022 compared to 2021. Product gross margin decreased primarily\ndue to incremental component costs due to supply chain constraints and product mix, partially offset by higher software revenue and pricing actions.\nThe decrease in product gross margin was partially offset by the increase in service gross margin, which was primarily due to higher revenue and\nlower service delivery costs.\n• Operating Margin: Operating income as a percentage of net ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000182_segments",
      "report_id": "ID_000182",
      "company_name": "Juniper",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segments",
      "golden_context": "Page 94:\n\nniper Networks, Inc.\nNotes to Consolidated Financial Statements (Continued)\nNote 12. Segments\nThe Company operates in one reportable segment. The Company's chief executive officer, who is the chief operating decision maker, reviews financial\ninformation presented on a consolidated basis for purposes of allocating resources and evaluating financial performance, accompanied by disaggregated\ninformation about net revenues by customer solution, customer vertical, and geographic region as presented below.\nThe following table presents net revenues by customer solution (in millions):\nYears Ended December 31,\n2022 2021 2020\nCustomer Solutions:\nAutomated WAN Solutions $ 1,865.3 $ 1,665.0 $ 1,622.2\nCloud-Ready Data Center 878.9 727.1 677.1\nAI-Driven Enterprise 1,026.2 830.4 656.2\nHardware Maintenance and Professional Services 1,530.8 1,512.9 1,489.6\nTotal $ 5,301.2 $ 4,735.4 $ 4,445.1\nThe following table presents net revenues by customer vertical (in millions):\nYears Ended December 31,\n2022 2021 2020\nCloud $ 1,393.6 $ 1,228.0 $ 1,081.2\nService Provider",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_cash_flow",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flows 872.8m",
      "golden_context": "Page 49:\n\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2023 2022 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,564.5 $ 5,301.2 $ 263.3 5 %\n$ 3,201.9 $ 2,958.3 $ 243.6 8 %\n57.5 % 55.8 %\n$ 470.1 $ 519.1 $ (49.0) (9)%\nPercentage of net revenues 8.4 % 9.8 %\n$ 310.2 $ 471.0 $ (160.8) (34)%\nPercentage of net revenues 5.6 % 8.9 %\n$ 0.97 $ 1.46 $ (0.49) (34)%\n$ 0.95 $ 1.43 $ (0.48) (34)%\nOperating cash flows $ 872.8 $ 97.6 $ 775.2 794 %\nStock repurchase plan activity $ 385.0 $ 299.7 $ 85.3 28 %\nCash dividends declared per common stock $ 0.88 $ 0.84 $ 0.04 5 %\n(1)\nDSO 69 76 (7) (9)%\nDeferred revenue:\nDeferred product revenue Total $ 92.1 $ 108.8 $ (16.7) (15)%\nDeferred service revenue 1,932.8 1,554.3 378.5 24 %\n$ 2,024.9 $ 1,663.1 $ 361.8 22 %\n(2)\nDeferred revenue from customer solutions $ 843.4 $ 632.8 $ 210.6 33 %\nDeferred revenue from hardware maintenance and professional services 1,181.5 1,030.3 151.2 15 %\nTotal $ 2,024.9 $ 1,663.1 $ 361.8 22 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2023, and 2022.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2023 compared to 2022 driven by a growth in Enterprise vertical, partially offset by a decline in the\nCloud and Service Provider verticals. Net revenues increased across all geographies. Service net revenues increased primarily driven by strong sales\nof hardware maintenance contracts and SaaS subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues increased during 2023 compared to 2022 primarily due to improved service gross\nmargin. The increase in service gross margin was mainly due to higher revenue from hardware maintenance and software subscriptions and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_company_type",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n__________\n____________\nCommission file number 001-34501\nJUNIPER NETWORKS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 77-0422528\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1133 Innovation Way\nSunnyvale, California 94089\n(Address of principal executive offices) (Zip code)\n(408) 745-2000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.00001 per share Trading Symbol JNPR Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filings requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whethe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_key_financials",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 5564.5m, net income per share basic 0.97",
      "golden_context": "Page 49:\n\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2023 2022 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,564.5 $ 5,301.2 $ 263.3 5 %\n$ 3,201.9 $ 2,958.3 $ 243.6 8 %\n57.5 % 55.8 %\n$ 470.1 $ 519.1 $ (49.0) (9)%\nPercentage of net revenues 8.4 % 9.8 %\n$ 310.2 $ 471.0 $ (160.8) (34)%\nPercentage of net revenues 5.6 % 8.9 %\n$ 0.97 $ 1.46 $ (0.49) (34)%\n$ 0.95 $ 1.43 $ (0.48) (34)%\nOperating cash flows $ 872.8 $ 97.6 $ 775.2 794 %\nStock repurchase plan activity $ 385.0 $ 299.7 $ 85.3 28 %\nCash dividends declared per common stock $ 0.88 $ 0.84 $ 0.04 5 %\n(1)\nDSO 69 76 (7) (9)%\nDeferred revenue:\nDeferred product revenue Total $ 92.1 $ 108.8 $ (16.7) (15)%\nDeferred service revenue 1,932.8 1,554.3 378.5 24 %\n$ 2,024.9 $ 1,663.1 $ 361.8 22 %\n(2)\nDeferred revenue from customer solutions $ 843.4 $ 632.8 $ 210.6 33 %\nDeferred revenue from hardware maintenance and professional services 1,181.5 1,030.3 151.2 15 %\nTotal $ 2,024.9 $ 1,663.1 $ 361.8 22 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2023, and 2022.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2023 compared to 2022 driven by a growth in Enterprise vertical, partially offset by a decline in the\nCloud and Service Provider verticals. Net revenues increased across all geographies. Service net revenues increased primarily driven by strong sales\nof hardware maintenance contracts and SaaS subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues increased during 2023 compared to 2022 primarily due to improved service gross\nmargin. The increase in service gross margin was mainly due to higher revenue from hardware maintenance and software subscriptions and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_revenue",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "5564.5m",
      "golden_context": "Page 49:\n\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2023 2022 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,564.5 $ 5,301.2 $ 263.3 5 %\n$ 3,201.9 $ 2,958.3 $ 243.6 8 %\n57.5 % 55.8 %\n$ 470.1 $ 519.1 $ (49.0) (9)%\nPercentage of net revenues 8.4 % 9.8 %\n$ 310.2 $ 471.0 $ (160.8) (34)%\nPercentage of net revenues 5.6 % 8.9 %\n$ 0.97 $ 1.46 $ (0.49) (34)%\n$ 0.95 $ 1.43 $ (0.48) (34)%\nOperating cash flows $ 872.8 $ 97.6 $ 775.2 794 %\nStock repurchase plan activity $ 385.0 $ 299.7 $ 85.3 28 %\nCash dividends declared per common stock $ 0.88 $ 0.84 $ 0.04 5 %\n(1)\nDSO 69 76 (7) (9)%\nDeferred revenue:\nDeferred product revenue Total $ 92.1 $ 108.8 $ (16.7) (15)%\nDeferred service revenue 1,932.8 1,554.3 378.5 24 %\n$ 2,024.9 $ 1,663.1 $ 361.8 22 %\n(2)\nDeferred revenue from customer solutions $ 843.4 $ 632.8 $ 210.6 33 %\nDeferred revenue from hardware maintenance and professional services 1,181.5 1,030.3 151.2 15 %\nTotal $ 2,024.9 $ 1,663.1 $ 361.8 22 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2023, and 2022.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2023 compared to 2022 driven by a growth in Enterprise vertical, partially offset by a decline in the\nCloud and Service Provider verticals. Net revenues increased across all geographies. Service net revenues increased primarily driven by strong sales\nof hardware maintenance contracts and SaaS subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues increased during 2023 compared to 2022 primarily due to improved service gross\nmargin. The increase in service gross margin was mainly due to higher revenue from hardware maintenance and software subscriptions and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_revenue_growth",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "5564.5m, prior year 5301.2m",
      "golden_context": "Page 49:\n\nFinancial Results and Key Performance Metrics Overview\nThe following table provides an overview of our financial results and key financial metrics (in millions, except per share amounts, percentages, and days sales\noutstanding, or DSO):\nAs of and for the Years Ended December 31,\n2023 2022 $ Change % Change\nNet revenues Gross margin Percentage of net revenues Operating income Net income Net income per share\nBasic Diluted $ 5,564.5 $ 5,301.2 $ 263.3 5 %\n$ 3,201.9 $ 2,958.3 $ 243.6 8 %\n57.5 % 55.8 %\n$ 470.1 $ 519.1 $ (49.0) (9)%\nPercentage of net revenues 8.4 % 9.8 %\n$ 310.2 $ 471.0 $ (160.8) (34)%\nPercentage of net revenues 5.6 % 8.9 %\n$ 0.97 $ 1.46 $ (0.49) (34)%\n$ 0.95 $ 1.43 $ (0.48) (34)%\nOperating cash flows $ 872.8 $ 97.6 $ 775.2 794 %\nStock repurchase plan activity $ 385.0 $ 299.7 $ 85.3 28 %\nCash dividends declared per common stock $ 0.88 $ 0.84 $ 0.04 5 %\n(1)\nDSO 69 76 (7) (9)%\nDeferred revenue:\nDeferred product revenue Total $ 92.1 $ 108.8 $ (16.7) (15)%\nDeferred service revenue 1,932.8 1,554.3 378.5 24 %\n$ 2,024.9 $ 1,663.1 $ 361.8 22 %\n(2)\nDeferred revenue from customer solutions $ 843.4 $ 632.8 $ 210.6 33 %\nDeferred revenue from hardware maintenance and professional services 1,181.5 1,030.3 151.2 15 %\nTotal $ 2,024.9 $ 1,663.1 $ 361.8 22 %\n________________________________\n(1)\nDSO is for the fourth quarter ended December 31, 2023, and 2022.\n(2)\nIncludes deferred revenue from hardware solutions, software licenses, software support and maintenance and SaaS offerings sold in our Automated WAN Solutions, Cloud-\nReady Data Center, and AI-Driven Enterprise customer solution categories.\n• Net Revenues: Net revenues increased during 2023 compared to 2022 driven by a growth in Enterprise vertical, partially offset by a decline in the\nCloud and Service Provider verticals. Net revenues increased across all geographies. Service net revenues increased primarily driven by strong sales\nof hardware maintenance contracts and SaaS subscriptions.\n• Gross Margin: Gross margin as a percentage of net revenues increased during 2023 compared to 2022 primarily due to improved service gross\nmargin. The increase in service gross margin was mainly due to higher revenue from hardware maintenance and software subscriptions and lower",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000183_segments",
      "report_id": "ID_000183",
      "company_name": "Juniper",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 101:\n\nuniper Networks, Inc.\nNotes to Consolidated Financial Statements (Continued)\nNote 11. Segments\nThe Company operates in one reportable segment. The Company's chief executive officer, who is the chief operating decision maker, reviews financial\ninformation presented on a consolidated basis for purposes of allocating resources and evaluating financial performance, accompanied by disaggregated\ninformation about net revenues by customer solution, customer vertical, and geographic region as presented below.\nThe following table presents net revenues by customer solution (in millions):\nYears Ended December 31,\n2023 2022 2021\nCustomer Solutions:\nAutomated WAN Solutions $ 1,839.3 $ 1,865.3 $ 1,665.0\nCloud-Ready Data Center 744.7 878.9 727.1\nAI-Driven Enterprise 1,391.8 1,026.2 830.4\nHardware Maintenance and Professional Services 1,588.7 1,530.8 1,512.9\nTotal $ 5,564.5 $ 5,301.2 $ 4,735.4\nThe following table presents net revenues by customer vertical (in millions):\nYears Ended December 31,\n2023 2022 2021\nCloud $ 1,162.8 $ 1,393.6 $ 1,228.0\nService Provider 1,842.5 1,891.2 1,839.1\nEnterprise",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_cash_flow",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating:  545'927k, \ninvesting:  -33'169k, \nfinancing: -422'913k",
      "golden_context": "Page 39:\n\nConsolidated Statements of Cash Flows\nYears ended October 31, 2021, 2020 and 2019\n(In thousands)\nCash flows from operating activities: 2021 2020 2019\nNet income $ 454,368 $ 249,539 $ 337,091\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 53,332 56,323 55,454\nAmortization 50,551 56,979 54,790\nProvision for losses on receivables 32 2,165 2,254\nDeferred income taxes 4,071 (13,956) (1,018)\nNon-cash stock compensation 22,757 12,856 18,086\nLoss on sale of property, plant and equipment 589 484 953\nImpairment loss on assets held for sale— 87,371 —\nOther non-cash 4,907 3,729 (669)\nChanges in operating assets and liabilities:\nReceivables (13,720) 50,098 (39,992)\nInventories (50,584) 5,785 (23,117)\nPrepaid expenses (5,209) 1,978 (2,024)\nAccounts payable 20,769 (10,673) 654\nIncome taxes payable 8,659 (7,816) (3,832)\nAccrued liabilities 32,929 6,360 (14,027)\nCustomer advance payments 36,167 (619) 2,193\nOther - principally pension plan (73,691) 1,818 (3,903)\nNet cash provided by operating activities 545,927 502,421 382,893\nCash flows from investing activities:\nAdditions to property, plant and equipment (38,303) (50,535) (64,244)\nProceeds from sale of property, plant and equipment 163 840 1,285\nAcquisition of businesses, net of cash acquired— (142,414) (12,486)\nOther 4,971 (2,000) (844)\nNet cash used in investing activities (33,169) (194,109) (76,289)\nCash flows from financing activities:\nProceeds from long-term debt 9,414 165,734 186,635\nRepayment of long-term debt (298,830) (319,550) (254,473)\nRepayment of capital lease obligations (6,624) (7,605) (4,859)\nPayment of debt issuance costs— — (1,742)\nIssuance of common shares 31,780 50,853 26,020\nPurchase of treasury shares (60,970) (52,614) (120,510)\nDividends paid (97,683) (88,347) (82,145)\nNet cash used in financing activities (422,913) (251,529) (251,074)\nEffect of exchange rate changes on cash 1,834 346 (44)\nIncrease in cash and cash equivalents 91,679 57,129 55,486\nCash and cash equivalents at beginning of year 208,293 151,164 95,678\nCash and cash equivalents at end of year $ 299,972 $ 208,293 $ 151,164\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_company_type",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 5:\n\nECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended October 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 0-7977\nNORDSON CORPORATION\n(Exact name of Registrant as specified in its charter)\n34-0590250\n(I.R.S. Employer Identification No.)\n44145\n(Zip Code)\nName of Each Exchange on which\nRegistered\nNasdaq Stock Market LLC\nOhio\n(State of incorporation)\n28601 Clemens Road Westlake, Ohio\n(Address of principal executive offices)\n(440) 892-1580\n(Registrant’s Telephone Number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Common Shares, without par value NDSN Securities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No x\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes x No ☐\nIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was\nrequired to submit such files). Yes x No ☐\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”\nand “emerging growth company” in Rule 12b-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_key_financials",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "sales 2362209k, operating profit 615127k, net income 454368k",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2021, 2020 and 2019\n(In thousands except for per-share amounts) 2021 2020 2019\nSales $ 2,362,209 $ 2,121,100 $ 2,194,226\nOperating costs and expenses:\nCost of sales 1,038,129 990,632 1,002,123\nSelling and administrative expenses 708,953 693,552 708,990\nAssets held for sale impairment charge— 87,371 —\n1,747,082 1,771,555 1,711,113\nOperating profit 615,127 349,545 483,113\nOther income (expense):\nInterest expense (25,491) (32,160) (47,145)\nInterest and investment income 2,150 1,681 1,844\nOther - net (17,610) (17,577) (6,708)\n(40,951) (48,056) (52,009)\nIncome before income taxes 574,176 301,489 431,104\nIncome tax provision:\nCurrent 115,737 65,906 95,031\nDeferred 4,071 (13,956) (1,018)\n119,808 51,950 94,013\nNet income $ 454,368 $ 249,539 $ 337,091\nAverage common shares 58,091 57,757 57,462\nIncremental common shares attributable to outstanding stock options,\nrestricted stock and deferred stock-based compensation 643 716 740\nAverage common shares and common share equivalents 58,734 58,473 58,202\nBasic earnings per share $ 7.82 $ 4.32 $ 5.87\nDiluted earnings per share $ 7.74 $ 4.27 $ 5.79\nDividends declared per common share $ 1.69 $ 1.53 $ 1.43\nThe accompanying notes are an integral part of the consolid",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_revenue",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "sales 2362209k",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2021, 2020 and 2019\n(In thousands except for per-share amounts) 2021 2020 2019\nSales $ 2,362,209 $ 2,121,100 $ 2,194,226\nOperating costs and expenses:\nCost of sales 1,038,129 990,632 1,002,123\nSelling and administrative expenses 708,953 693,552 708,990\nAssets held for sale impairment charge— 87,371 —\n1,747,082 1,771,555 1,711,113\nOperating profit 615,127 349,545 483,113\nOther income (expense):\nInterest expense (25,491) (32,160) (47,145)\nInterest and investment income 2,150 1,681 1,844\nOther - net (17,610) (17,577) (6,708)\n(40,951) (48,056) (52,009)\nIncome before income taxes 574,176 301,489 431,104\nIncome tax provision:\nCurrent 115,737 65,906 95,031\nDeferred 4,071 (13,956) (1,018)\n119,808 51,950 94,013\nNet income $ 454,368 $ 249,539 $ 337,091\nAverage common shares 58,091 57,757 57,462\nIncremental common shares attributable to outstanding stock options,\nrestricted stock and deferred stock-based compensation 643 716 740\nAverage common shares and common share equivalents 58,734 58,473 58,202\nBasic earnings per share $ 7.82 $ 4.32 $ 5.87\nDiluted earnings per share $ 7.74 $ 4.27 $ 5.79\nDividends declared per common share $ 1.69 $ 1.53 $ 1.43\nThe accompanying notes are an integral part of the consolid",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_revenue_growth",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "sales 2362209k, 2121100k prior year",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2021, 2020 and 2019\n(In thousands except for per-share amounts) 2021 2020 2019\nSales $ 2,362,209 $ 2,121,100 $ 2,194,226\nOperating costs and expenses:\nCost of sales 1,038,129 990,632 1,002,123\nSelling and administrative expenses 708,953 693,552 708,990\nAssets held for sale impairment charge— 87,371 —\n1,747,082 1,771,555 1,711,113\nOperating profit 615,127 349,545 483,113\nOther income (expense):\nInterest expense (25,491) (32,160) (47,145)\nInterest and investment income 2,150 1,681 1,844\nOther - net (17,610) (17,577) (6,708)\n(40,951) (48,056) (52,009)\nIncome before income taxes 574,176 301,489 431,104\nIncome tax provision:\nCurrent 115,737 65,906 95,031\nDeferred 4,071 (13,956) (1,018)\n119,808 51,950 94,013\nNet income $ 454,368 $ 249,539 $ 337,091\nAverage common shares 58,091 57,757 57,462\nIncremental common shares attributable to outstanding stock options,\nrestricted stock and deferred stock-based compensation 643 716 740\nAverage common shares and common share equivalents 58,734 58,473 58,202\nBasic earnings per share $ 7.82 $ 4.32 $ 5.87\nDiluted earnings per share $ 7.74 $ 4.27 $ 5.79\nDividends declared per common share $ 1.69 $ 1.53 $ 1.43\nThe accompanying notes are an integral part of the consolid",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000184_segments",
      "report_id": "ID_000184",
      "company_name": "Nordson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Precision Solutions and Advanced Technology Solutions",
      "golden_context": "Page 66:\n\nly.\nShares reserved for future issuance — At October 31, 2021, there were 1,835 of common shares reserved for future issuance\nthrough the exercise of outstanding options or rights.\nNote 16 — Operating segments and geographic area data\nWe conduct business in two primary operating segments: Industrial Precision Solutions and Advanced Technology Solutions.\nThe composition of segments and measure of segment profitability is consistent with that used by our chief operating decision\nmaker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating\nresources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain\noperating expenses. Items below the operating profit line of the Consolidated Statement of Income (interest and investment\nincome, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our\nchief operating decision maker and are not presented by operating segment. The accounting policies of the segments are\ngenerally the same as those described in Note 1, Significant Accounting Policies.\nEffective in the second quarter of 2020, we made changes to realign our management team and our operating segments. This\nrealignment will enable us to better serve global customers and markets, to more efficiently leverage technology synergies, to\noperate divisions of significant size in a consistent and focused way and to position ourselves for our next chapter of profitable\ngrowth. The revised operating segments better reflect how we manage the Company, allocate resources, and assess performance\nof the businesses.\nWe realigned our former three operating segments into two: Industrial Precision Solutions and Advanced Technology\nSolutions. Existing product lines were unchanged as part of this new structure.\nIndustrial Precision Solutions: This segment combines our former Adhesive Dispensing Systems (ADS) and Industrial\nCoating Systems (ICS) businesses. IPS enhances the technology synergies between ADS and ICS to deliver proprietary\ndispensing and processing technology to diverse end markets. Product lines reduce material consumption, increase line\nefficiency and enhance product brand and appearance. Components are used for dispensing adhesives, coatings, paint, finishes,\nsealants and other materials. This segment primarily serves the industrial, consumer durables and non-durables markets.\nAdvanced Technology Solutions: This segment integrates our proprietary product technologies found in progressive stages of\na customer’s pro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_cash_flow",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating 513131k, investing -222761k, financing: -416006, total cash flow -136515k",
      "golden_context": "Page 39:\n\nConsolidated Statements of Cash Flows\nYears ended October 31, 2022, 2021 and 2020\n(In thousands)\nCash flows from operating activities: 2022 2021 2020\nNet income $ 513,103 $ 454,368 $ 249,539\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 49,098 53,332 56,323\nAmortization 50,825 50,551 56,979\nProvision for losses on receivables 1,259 32 2,165\nDeferred income taxes (10,732) 4,071 (13,956)\nNon-cash stock compensation 30,748 22,757 12,856\nLoss (gain) on sale of property, plant and equipment (581) 589 484\nImpairment loss on assets held for sale— — 87,371\nPension settlement charge for U.S. Plans 41,221— —\nOther non-cash 1,259 4,907 3,729\nChanges in operating assets and liabilities:\nReceivables (72,907) (13,720) 50,098\nInventories (69,132) (50,584) 5,785\nPrepaid expenses (1,708) (5,209) 1,978\nAccounts payable 10,671 20,769 (10,673)\nIncome taxes payable 6,155 8,659 (7,816)\nAccrued liabilities 925 32,929 6,360\nCustomer advance payments 18,682 36,167 (619)\nOther (55,755) (73,691) 1,818\nNet cash provided by operating activities 513,131 545,927 502,421\nCash flows from investing activities:\nAdditions to property, plant and equipment (51,428) (38,303) (50,535)\nProceeds from sale of property, plant and equipment 280 163 840\nAcquisition of businesses, net of cash acquired (171,613) — (142,414)\nOther— 4,971 (2,000)\nNet cash used in investing activities (222,761) (33,169) (194,109)\nCash flows from financing activities:\nProceeds from long-term debt 63,067 9,414 165,734\nRepayment of long-term debt (96,975) (298,830) (319,550)\nRepayment of capital lease obligations (5,439) (6,624) (7,605)\nIssuance of common shares 12,124 31,780 50,853\nPurchase of treasury shares (262,869) (60,970) (52,614)\nDividends paid (125,914) (97,683) (88,347)\nNet cash used in financing activities (416,006) (422,913) (251,529)\nEffect of exchange rate changes on cash (10,879) 1,834 346\nIncrease (decrease) in cash and cash equivalents (136,515) 91,679 57,129\nCash and cash equivalents at beginning of year 299,972 208,293 151,164\nCash and cash equivalents at end of year $ 163,457 $ 299,972 $ 208,293\nThe accompanying notes are an integral part of the consolidated financial statements.\n\nPage 36:\n\nConsolidated Statements of Comprehensive Income\nYears ended October 31, 2022, 2021 and 2020\n(In thousands) 2022 2021 2020\nNet income $ 513,103 $ 454,368 $ 249,539\nComponents of other comprehensive income (loss), net of tax:\nForeign currency translation adjustments (126,657) 7,033 12,910\nPension and postretirement benefit plans:\nPrior service (cost) credit arising during the year— 124 (6)\nNet actuarial gain (loss) arising during the year 54,065 25,289 (21,607)\nAmortization of prior service cost (201) (304) (232)\nAmortization of actuarial loss 7,575 14,954 12,767\nCurtailment gain 1,052— —\nSettlement loss recognized 32,219 3,187 1,931\nTotal pension and postretirement benefit plans 94,710 43,250 (7,147)\nTotal other comprehensive income (loss) (31,947) 50,283 5,763\nTotal comprehensive income $ 481,156 $ 504,651 $ 255,302\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_company_type",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 5:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended October 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 0-7977\nNORDSON CORPORATION\n(Exact name of Registrant as specified in its charter)\n34-0590250\n(I.R.S. Employer Identification No.)\n44145\n(Zip Code)\nName of Each Exchange on which\nRegistered\nNasdaq Stock Market LLC\nOhio\n(State of incorporation)\n28601 Clemens Road Westlake, Ohio\n(Address of principal executive offices)\n(440) 892-1580\n(Registrant’s Telephone Number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Common Shares, without par value NDSN Securities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No x\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes x No ☐\nIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was\nrequired to submit such files). Yes x No ☐\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act:\nLarge accelerated filer x Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_key_financials",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "net income 513103k, sales 2590278k",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2022, 2021 and 2020\n(In thousands except for per-share amounts) 2022 2021 2020\nSales $ 2,590,278 $ 2,362,209 $ 2,121,100\nOperating costs and expenses:\nCost of sales 1,163,742 1,038,129 990,632\nSelling and administrative expenses 724,176 708,953 693,552\nAssets held for sale impairment charge— — 87,371\n1,887,918 1,747,082 1,771,555\nOperating profit 702,360 615,127 349,545\nOther income (expense):\nInterest expense (22,413) (25,491) (32,160)\nInterest and investment income 2,026 2,150 1,681\nPension settlement charge for U.S. Plans (41,221)— —\nOther - net 8,527 (17,610) (17,577)\n(53,081) (40,951) (48,056)\nIncome before income taxes 649,279 574,176 301,489\nIncome tax provision:\nCurrent 146,908 115,737 65,906\nDeferred (10,732) 4,071 (13,956)\n136,176 119,808 51,950\nNet income $ 513,103 $ 454,368 $ 249,539\nAverage common shares 57,629 58,091 57,757\nIncremental common shares attributable to equity compensation 620 643 716\nAverage common shares and common share equivalents 58,249 58,734 58,473\nBasic earnings per share $ 8.90 $ 7.82 $ 4.32\nDiluted earnings per share $ 8.81 $ 7.74 $ 4.27\nDividends declared per common share $ 2.18 $ 1.69 $ 1.53\nThe accompanying notes are an integral part of the consolidated financial statements\n\nPage 36:\n\nConsolidated Statements of Comprehensive Income\nYears ended October 31, 2022, 2021 and 2020\n(In thousands) 2022 2021 2020\nNet income $ 513,103 $ 454,368 $ 249,539\nComponents of other comprehensive income (loss), net of tax:\nForeign currency translation adjustments (126,657) 7,033 12,910\nPension and postretirement benefit plans:\nPrior service (cost) credit arising during the year— 124 (6)\nNet actuarial gain (loss) arising during the year 54,065 25,289 (21,607)\nAmortization of prior service cost (201) (304) (232)\nAmortization of actuarial loss 7,575 14,954 12,767\nCurtailment gain 1,052— —\nSettlement loss recognized 32,219 3,187 1,931\nTotal pension and postretirement benefit plans 94,710 43,250 (7,147)\nTotal other comprehensive income (loss) (31,947) 50,283 5,763\nTotal comprehensive income $ 481,156 $ 504,651 $ 255,302\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_revenue",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "sales 2590278k",
      "golden_context": "Page 36:\n\nConsolidated Statements of Comprehensive Income\nYears ended October 31, 2022, 2021 and 2020\n(In thousands) 2022 2021 2020\nNet income $ 513,103 $ 454,368 $ 249,539\nComponents of other comprehensive income (loss), net of tax:\nForeign currency translation adjustments (126,657) 7,033 12,910\nPension and postretirement benefit plans:\nPrior service (cost) credit arising during the year— 124 (6)\nNet actuarial gain (loss) arising during the year 54,065 25,289 (21,607)\nAmortization of prior service cost (201) (304) (232)\nAmortization of actuarial loss 7,575 14,954 12,767\nCurtailment gain 1,052— —\nSettlement loss recognized 32,219 3,187 1,931\nTotal pension and postretirement benefit plans 94,710 43,250 (7,147)\nTotal other comprehensive income (loss) (31,947) 50,283 5,763\nTotal comprehensive income $ 481,156 $ 504,651 $ 255,302\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_revenue_growth",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "sales 2590278k, prior year 2362209k",
      "golden_context": "Page 36:\n\nConsolidated Statements of Comprehensive Income\nYears ended October 31, 2022, 2021 and 2020\n(In thousands) 2022 2021 2020\nNet income $ 513,103 $ 454,368 $ 249,539\nComponents of other comprehensive income (loss), net of tax:\nForeign currency translation adjustments (126,657) 7,033 12,910\nPension and postretirement benefit plans:\nPrior service (cost) credit arising during the year— 124 (6)\nNet actuarial gain (loss) arising during the year 54,065 25,289 (21,607)\nAmortization of prior service cost (201) (304) (232)\nAmortization of actuarial loss 7,575 14,954 12,767\nCurtailment gain 1,052— —\nSettlement loss recognized 32,219 3,187 1,931\nTotal pension and postretirement benefit plans 94,710 43,250 (7,147)\nTotal other comprehensive income (loss) (31,947) 50,283 5,763\nTotal comprehensive income $ 481,156 $ 504,651 $ 255,302\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000185_segments",
      "report_id": "ID_000185",
      "company_name": "Nordson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Precision Solutions, Medical and Fluid Solutions, and Advanced\nTechnology Solutions",
      "golden_context": "Page 27:\n\nxcess of purchase price over the fair value of tangible and identifiable intangible net assets\nacquired in various business combinations. Goodwill is not amortized but is tested for impairment annually at the reporting unit\nlevel, or more often if indications of impairment exist.\nWe test goodwill in accordance with Accounting Standards Codification (\"ASC\") 350. We did not record any goodwill\nimpairment charges in 2022. We use an independent valuation specialist to assist with refining our assumptions and methods\nused to determine fair values. To test for goodwill impairment, we estimate the fair value of each of our reporting units using a\ncombination of the Income Approach and the Market Approach. Effective in the fourth quarter of 2022, we realigned our\nformer two operating segments into three: Industrial Precision Solutions, Medical and Fluid Solutions, and Advanced\nTechnology Solutions. Previously, Advanced Technology Solutions was comprised of Medical and Fluid Solutions and the\nformer Advanced Technology Solutions. Our segment change did not have any impact on our reporting units.\nThe discounted cash flow method (Income Approach) uses assumptions for revenue growth, operating margin and working\ncapital turnover that are based on management’s strategic plans tempered by performance trends and reasonable expectations\nabout those trends. Terminal value calculations employ a published formula known as the Gordon Growth Model Method that\nessentially captures the present value of perpetual cash flows beyond the last projected period assuming a constant Weighted\nAverage Cost of Capital (\"WACC\") methodology and growth rate. For each reporting unit, a sensitivity analysis is performed to\nvary the discount and terminal gro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_cash_flow",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating       641'282k, \ninvesting    -1'436'879k, \nfinancing       750'512k, \ntotal cash flow -47'778k",
      "golden_context": "Page 39:\n\nConsolidated Statements of Cash Flows\nYears ended October 31, 2023, 2022 and 2021\n(In thousands)\nCash flows from operating activities: 2023 2022 2021\nNet income $ 487,493 $ 513,103 $ 454,368\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 52,179 49,098 53,332\nAmortization 59,719 50,825 50,551\nProvision for losses on receivables 283 1,259 32\nDeferred income taxes (16,116) (10,732) 4,071\nNon-cash stock compensation 22,710 30,748 22,757\nLoss (gain) on sale of property, plant and equipment 1,092 (581) 589\nPension settlement charge for U.S. Plans— 41,221 —\nOther non-cash 8,136 1,259 4,907\nChanges in operating assets and liabilities:\nReceivables 18,185 (72,907) (13,720)\nInventories 22,418 (69,132) (50,584)\nPrepaid expenses (14,677) (1,708) (5,209)\nAccounts payable (15,820) 10,671 20,769\nIncome taxes payable 17,722 6,155 8,659\nAccrued liabilities (28,620) 925 32,929\nCustomer advance payments (2,779) 18,682 36,167\nOther 29,357 (55,755) (73,691)\nNet cash provided by operating activities 641,282 513,131 545,927\nCash flows from investing activities:\nAdditions to property, plant and equipment (34,583) (51,428) (38,303)\nProceeds from sale of property, plant and equipment 101 280 163\nAcquisition of businesses, net of cash acquired (1,422,780) (171,613) —\nOther 20,383— 4,971\nNet cash used in investing activities (1,436,879) (222,761) (33,169)\nCash flows from financing activities:\nProceeds from long-term debt 2,178,596 63,067 9,414\nRepayment of long-term debt (1,202,553) (96,975) (298,830)\nRepayment of capital lease obligations (6,840) (5,439) (6,624)\nIssuance of common shares 21,373 12,124 31,780\nPurchase of treasury shares (89,708) (262,869) (60,970)\nDividends paid (150,356) (125,914) (97,683)\nNet cash provided (used) in financing activities 750,512 (416,006) (422,913)\nEffect of exchange rate changes on cash (2,693) (10,879) 1,834\nIncrease (decrease) in cash and cash equivalents (47,778) (136,515) 91,679\nCash and cash equivalents at beginning of year 163,457 299,972 208,293\nCash and cash equivalents at end of year $ 115,679 $ 163,457 $ 299,972\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_company_type",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 5:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 0-7977\nNORDSON CORPORATION\n(Exact name of Registrant as specified in its charter)\n34-0590250\n(I.R.S. Employer Identification No.)\n44145\n(Zip Code)\nName of Each Exchange on which\nRegistered\nNasdaq Stock Market LLC\nOhio\n(State of incorporation)\n28601 Clemens Road Westlake, Ohio\n(Address of principal executive offices)\n(440) 892-1580\n(Registrant’s Telephone Number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Common Shares, without par value NDSN Securities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ☐\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No x\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes x No ☐\nIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was\nrequired to submit such files). Yes x No ☐\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act:\nLarge accelerated filer x Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_key_financials",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "worldwide sales 2628632, cost of sales 1203227",
      "golden_context": "Page 30:\n\nets of $353,500 were recorded. The identifiable intangible assets consist primarily of $27,500 of tradenames (amortized over\nnine years), $31,000 of technology (amortized over five years), and $295,000 of customer relationships (amortized over twenty-\ntwo years). The financial results of the ARAG Group acquisition are not expected to have a material impact on our\nConsolidated Financial Statements.\nResults of Operations\nBelow is a detailed discussion comparison of our results of operations for the fiscal years ended October 31, 2023 and\nOctober 31, 2022. For a discussion of other changes from the fiscal year ended October 31, 2022 to the fiscal year ended\nOctober 31, 2021, refer to Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of\nOperations, of our Annual Report on Form 10-K for the fiscal year ended October 31, 2022.\nAs used throughout this annual report, geographic regions include the Americas (United States, Canada, Mexico and Central\nand South America), Asia Pacific and Europe.\n2023 compared to 2022\nWorldwide sales for 2023 were $2,628,632, an increase of 1.5 percent from 2022 sales of $2,590,278. The increase consisted of\na 3.8 percent increase from acquisitions, partially offset by a 1.4 percent decline in organic sales and unfavorable currency\ntranslation effects that decreased sales by 0.9 percent.\nSales outside the United States accounted for 66.2 percent of total sales in 2023, as compared to 66.8 percent in 2022. On a\ngeographic basis, sales in the Americas region were $1,149,760, an increase of 4.8 percent from 2022, with organic sales\nincreasing 2.0 percent, a 2.4 percent increase from acquisitions, and favorable currency effects of 0.4 percent. Sales in the Asia\nPacific region were $796,196, a decrease of 6.1 percent from 2022, with organic sales decreasing 8.2 percent and unfavorable\ncurrency effects of 3.1 percent, partially offset by a 5.2 percent increase from acquisitions. Sales in Europe were $682,676, an\nincrease of 5.7 percent from 2022, with organic sales increasing 1.4 percent, a 4.2 percent increase from acquisitions, and\nfavorable currency effects of 0.1 percent.\nCost of sales were $1,203,227 in 2023, up 3.4 percent from $1,163,742 in 2022. Gross profit, expressed as a percentage of\nsales, decreased to 54.2 percent in 2023 from 55.1 percent in 2022. The 0.9 percentage point decrease in gross margin was\nprimarily driven by incremental inventory step-up amortization related to acquisitions in 2023 of $8,862 and unfavorable\nforeign currency effects.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_revenue",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "2628632k",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2023, 2022 and 2021\n(In thousands except for per-share amounts) 2023 2022 2021\nSales $ 2,628,632 $ 2,590,278 $ 2,362,209\nOperating costs and expenses:\nCost of sales 1,203,227 1,163,742 1,038,129\nSelling and administrative expenses 752,644 724,176 708,953\n1,955,871 1,887,918 1,747,082\nOperating profit 672,761 702,360 615,127\nOther income (expense):\nInterest expense (59,505) (22,413) (25,491)\nInterest and investment income 2,680 2,026 2,150\nPension settlement charge for U.S. Plans— (41,221) —\nOther - net (597) 8,527 (17,610)\n(57,422) (53,081) (40,951)\nIncome before income taxes 615,339 649,279 574,176\nIncome tax expense 127,846 136,176 119,808\nNet income $ 487,493 $ 513,103 $ 454,368\nAverage common shares 57,090 57,629 58,091\nIncremental common shares attributable to equity compensation 541 620 643\nAverage common shares and common share equivalents 57,631 58,249 58,734\nBasic earnings per share $ 8.54 $ 8.90 $ 7.82\nDiluted earnings per share $ 8.46 $ 8.81 $ 7.74\nDividends declared per common share $ 2.63 $ 2.18 $ 1.69\nThe accompanying notes are an integral part of the consolida",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_revenue_growth",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "2628632k, prior year 2590278k",
      "golden_context": "Page 35:\n\nConsolidated Statements of Income\nYears ended October 31, 2023, 2022 and 2021\n(In thousands except for per-share amounts) 2023 2022 2021\nSales $ 2,628,632 $ 2,590,278 $ 2,362,209\nOperating costs and expenses:\nCost of sales 1,203,227 1,163,742 1,038,129\nSelling and administrative expenses 752,644 724,176 708,953\n1,955,871 1,887,918 1,747,082\nOperating profit 672,761 702,360 615,127\nOther income (expense):\nInterest expense (59,505) (22,413) (25,491)\nInterest and investment income 2,680 2,026 2,150\nPension settlement charge for U.S. Plans— (41,221) —\nOther - net (597) 8,527 (17,610)\n(57,422) (53,081) (40,951)\nIncome before income taxes 615,339 649,279 574,176\nIncome tax expense 127,846 136,176 119,808\nNet income $ 487,493 $ 513,103 $ 454,368\nAverage common shares 57,090 57,629 58,091\nIncremental common shares attributable to equity compensation 541 620 643\nAverage common shares and common share equivalents 57,631 58,249 58,734\nBasic earnings per share $ 8.54 $ 8.90 $ 7.82\nDiluted earnings per share $ 8.46 $ 8.81 $ 7.74\nDividends declared per common share $ 2.63 $ 2.18 $ 1.69\nThe accompanying notes are an integral part of the consolida",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000186_segments",
      "report_id": "ID_000186",
      "company_name": "Nordson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Precision Solutions, Medical Fluid Systems, Advanced Technology Solutions",
      "golden_context": "Page 23:\n\nBusiness Segment - Property Identification Legend\n1\n- Industrial Precision Solutions\n2\n- Medical Fluid Systems\n3\n- Advanced Technology Solutions\nThe facilities listed have adequate, sui",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_cash_flow",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow 144m",
      "golden_context": "Page 10:\n\nFinancial Highlights1\n(MILLIONS OF DOLLARS, EXCEPT PER-SHARE\nAMOUNTS, CONTINUING OPERATIONS) 20212 20202 20192\nSWK\nRevenue $ 15,617.2 $ 13,057.7 $ 12,912.9\nGross Profit $ 5,233.2 $ 4,467.1 $ 4,261.4\nGross Margin 33.5% 34.2% 33.0%\nOperating Profit $ 2,177.3 $ 1,961.8 $ 1,764.3\nOperating Margin 13.9% 15.0% 13.7%\nFree Cash Flow* $ 144 $ 1,674 $ 1,081\nDiluted EPS $ 10.48 $ 8.04 $ 7.59\nTools & Storage\nRevenue $ 12,817.4 $ 10,329.7 $ 10,062.1\nSegment Profit $ 2,163.8 $ 1,866.7 $ 1,561.3\nSegment Margin 16.9% 18.1% 15.5%\nIndustrial\nRevenue $ 2,463.1 $ 2,352.7 $ 2,434.7\nSegment Profit $ 269.7 $ 287.7 $ 355.8\nSegment Margin 10.9% 12.2% 14.6%\n1 In the fourth quarter of 2021, the Company classified the results of the Convergent Security\nSolutions (“CSS”) business as held for sale upon announcing it reached a definitive agreement\nfor the sale of most of its Security assets. The results for 2020 and 2019 were recast for\ndiscontinued operations for comparability.\ndiscontinued operations for comparability.\n2 With the exception of Free Cash Flow, results exclude acquisition-related charges, a non-cash fair\nvalue adjustment, gain or loss on sales of businesses, a cost reduction program, charges related\nto the extinguishment of debt, margin resiliency initiatives, functional transformation initiatives,\nrestructuring, gain on investment, the release of a contingent consideration liability relating to the\nCAM acquisition, and a one-time tax benefit related to a supply chain reorganization, as applicable.\nCAM acquisition, and a one-time tax benefit related to a supply chain reorganization, as applicable.\n* Free Cash Flow = Net cash flow from operating activities less capital and software expenditures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_company_type",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 15:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 1, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ___________ to ___________\nCommission File Number 001-05224\nSTANLEY BLACK & DECKER, INC.\n(Exact Name Of Registrant As Specified In Its Charter)\nConnecticut 06-0548860\n(I.R.S. Employer\nIdentification Number)\n(State or Other Jurisdiction of\nIncorporation or Organization)\nTitle Of Each Class 1000 STANLEY DRIVE\nNEW BRITAIN, CT 06053\n(Address of Principal Executive Offices and Zip Code)\nRegistrant’s Telephone Number, Including Area Code 860 225-5111\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name Of Each Exchange on Which Registered\nCommon Stock $2.50 Par Value per Share SWK New York Stock Exchange\nCorporate Units SWT New York Stock Exchange\nSecurities Registered Pursuant To Section 12(g) Of The Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) h",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_key_financials",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "15.6bn total revenues, 20% growth vs. last year, 17% organic revenue growth, 14% operating margin",
      "golden_context": "Page 4:\n\nKey 2021 Accomplishments\n•\n•\n•\n•\nRecord revenue, organic growth and adjusted\nearnings per share*\nFocused our portfolio with the sale of our Electronic Security\nbusiness and the acquisitions of MTD and Excel to create\nthe world’s largest outdoor power equipment business\nEarned 60+ innovation awards in 2021, with 35% of 2021\ntools revenue derived from new products launched within\nthe prior three years\nAward-Winning Recognition:\n•\nDow Jones Sustainability Indices’ World Index for\n4th consecutive year\n•\n100 Best Corporate Citizens for outstanding ESG\nPerformance (3BL Media)\n•\nFortune’s World’s Most Admired, #1 in Category\n•\nPerfect score of 100 on the Corporate Equality Index\n•\nForbes 2021 World’s Best Employers, America’s\nBest Large Employers and America’s Best\nEmployers for Women\n•\nFast Company’s Best Workplaces for Innovators\nstrong demand. We actively addressed this environment by\nadding capacity and new suppliers, and implementing price\nincreases to support our margins. Accordingly, free cash\nflow was temporarily muted as we strategically prioritized\nbuilding the inventory required to serve our customers and\nhelp navigate the stretched global supply chain, as well as\nsupport the strong demand we see for 2022.\nTools & Storage achieved 20% organic growth, in 2021, as\nthe business served a persistently strong tool market driven\nby a consumer refocused on their home and garden,\neCommerce and strong professional demand. These trends\nwere evident across all global markets, including North\nAmerica (+16%), Europe (+27%) and emerging markets (+40%).\nInnovation also fueled our success in 2021 as a steady stream\nof new products were brought to market across all our brands\nand categories, with over 2,000 new introductions.\nThe Industrial business grew 3% organically in the face of\nmixed end-markets. The industrial fastener and attachment\ntool businesses delivered mid-teens growth, offsetting\nCOVID-driven sector headwinds in the automotive and\naerospace sectors.\nA Strong 2021 Performance from\nthe World’s Largest Tool Company\nIn 2021, we capitalized on extraordinarily strong customer\ndemand fueled by macro trends, including the reconnection\nwith home and garden, eCommerce and electrification. With\nour innovative products and portfolio of leading brands, we\nare uniquely positioned to leverage these secular tailwinds.\nFull-year revenue totaled $15.6 billion, a 20% increase from\nthe prior year, including 17% organic growth with all our\nbusinesses contributing. Our full-year operating margin rate\nwas 13.9%*, and we delivered record diluted EPS* of $10.48,\nup 30% over the prior year. We navigated a dynamic market\nand operating backdrop and prioritized serving the\n* Excludes Acquisition-Related and Other Charges\nBuilding the Supply Chain\nof the Future\nThe Stanley Black & Decker Operating Model (SBD\nOperating Model) also supports our growing manufacturing\nbase and supply chain. As the world’s largest tool company\nand the only major power tool manufacturer domiciled in\nthe U.S., we expanded to 50 manufacturing facilities across\nAmerica as well as more than 100 facilities worldwide\nto serve our local customers abroad. To support this\nmanufacturing ecosystem, we are taking the opportunity\nto reimagine our supply chain for the future to be more\nefficient and to better serve our customers. This includes\ncapacity expansion, strategic sourcing, factory automation\nand AI, and supporting U.S. manufacturing here at home.\n2021 SUMMARY OF RESULTS (CONTINUING OPERATIONS)\n$15.6B\nTOTAL REVENUES\n+20% Versus Prior Year\n17%**\nORGANIC REVENUE\nGROWTH\n14%*\nOPERATING\nMARGIN\n** Organic sales growth, or organic growth, is defined as the difference between total current and prior year sales less the impact of companies",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_revenue",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "15bn",
      "golden_context": "Page 4:\n\nKey 2021 Accomplishments\n•\n•\n•\n•\nRecord revenue, organic growth and adjusted\nearnings per share*\nFocused our portfolio with the sale of our Electronic Security\nbusiness and the acquisitions of MTD and Excel to create\nthe world’s largest outdoor power equipment business\nEarned 60+ innovation awards in 2021, with 35% of 2021\ntools revenue derived from new products launched within\nthe prior three years\nAward-Winning Recognition:\n•\nDow Jones Sustainability Indices’ World Index for\n4th consecutive year\n•\n100 Best Corporate Citizens for outstanding ESG\nPerformance (3BL Media)\n•\nFortune’s World’s Most Admired, #1 in Category\n•\nPerfect score of 100 on the Corporate Equality Index\n•\nForbes 2021 World’s Best Employers, America’s\nBest Large Employers and America’s Best\nEmployers for Women\n•\nFast Company’s Best Workplaces for Innovators\nstrong demand. We actively addressed this environment by\nadding capacity and new suppliers, and implementing price\nincreases to support our margins. Accordingly, free cash\nflow was temporarily muted as we strategically prioritized\nbuilding the inventory required to serve our customers and\nhelp navigate the stretched global supply chain, as well as\nsupport the strong demand we see for 2022.\nTools & Storage achieved 20% organic growth, in 2021, as\nthe business served a persistently strong tool market driven\nby a consumer refocused on their home and garden,\neCommerce and strong professional demand. These trends\nwere evident across all global markets, including North\nAmerica (+16%), Europe (+27%) and emerging markets (+40%).\nInnovation also fueled our success in 2021 as a steady stream\nof new products were brought to market across all our brands\nand categories, with over 2,000 new introductions.\nThe Industrial business grew 3% organically in the face of\nmixed end-markets. The industrial fastener and attachment\ntool businesses delivered mid-teens growth, offsetting\nCOVID-driven sector headwinds in the automotive and\naerospace sectors.\nA Strong 2021 Performance from\nthe World’s Largest Tool Company\nIn 2021, we capitalized on extraordinarily strong customer\ndemand fueled by macro trends, including the reconnection\nwith home and garden, eCommerce and electrification. With\nour innovative products and portfolio of leading brands, we\nare uniquely positioned to leverage these secular tailwinds.\nFull-year revenue totaled $15.6 billion, a 20% increase from\nthe prior year, including 17% organic growth with all our\nbusinesses contributing. Our full-year operating margin rate\nwas 13.9%*, and we delivered record diluted EPS* of $10.48,\nup 30% over the prior year. We navigated a dynamic market\nand operating backdrop and prioritized serving the\n* Excludes Acquisition-Related and Other Charges\nBuilding the Supply Chain\nof the Future\nThe Stanley Black & Decker Operating Model (SBD\nOperating Model) also supports our growing manufacturing\nbase and supply chain. As the world’s largest tool company\nand the only major power tool manufacturer domiciled in\nthe U.S., we expanded to 50 manufacturing facilities across\nAmerica as well as more than 100 facilities worldwide\nto serve our local customers abroad. To support this\nmanufacturing ecosystem, we are taking the opportunity\nto reimagine our supply chain for the future to be more\nefficient and to better serve our customers. This includes\ncapacity expansion, strategic sourcing, factory automation\nand AI, and supporting U.S. manufacturing here at home.\n2021 SUMMARY OF RESULTS (CONTINUING OPERATIONS)\n$15.6B\nTOTAL REVENUES\n+20% Versus Prior Year\n17%**\nORGANIC REVENUE\nGROWTH\n14%*\nOPERATING\nMARGIN\n** Organic sales growth, or organic growth, is defined as the difference between total current and prior year sales less the impact of companies",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_revenue_growth",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "15bn, 20% growth, 17% organic revenue growth",
      "golden_context": "Page 4:\n\nKey 2021 Accomplishments\n•\n•\n•\n•\nRecord revenue, organic growth and adjusted\nearnings per share*\nFocused our portfolio with the sale of our Electronic Security\nbusiness and the acquisitions of MTD and Excel to create\nthe world’s largest outdoor power equipment business\nEarned 60+ innovation awards in 2021, with 35% of 2021\ntools revenue derived from new products launched within\nthe prior three years\nAward-Winning Recognition:\n•\nDow Jones Sustainability Indices’ World Index for\n4th consecutive year\n•\n100 Best Corporate Citizens for outstanding ESG\nPerformance (3BL Media)\n•\nFortune’s World’s Most Admired, #1 in Category\n•\nPerfect score of 100 on the Corporate Equality Index\n•\nForbes 2021 World’s Best Employers, America’s\nBest Large Employers and America’s Best\nEmployers for Women\n•\nFast Company’s Best Workplaces for Innovators\nstrong demand. We actively addressed this environment by\nadding capacity and new suppliers, and implementing price\nincreases to support our margins. Accordingly, free cash\nflow was temporarily muted as we strategically prioritized\nbuilding the inventory required to serve our customers and\nhelp navigate the stretched global supply chain, as well as\nsupport the strong demand we see for 2022.\nTools & Storage achieved 20% organic growth, in 2021, as\nthe business served a persistently strong tool market driven\nby a consumer refocused on their home and garden,\neCommerce and strong professional demand. These trends\nwere evident across all global markets, including North\nAmerica (+16%), Europe (+27%) and emerging markets (+40%).\nInnovation also fueled our success in 2021 as a steady stream\nof new products were brought to market across all our brands\nand categories, with over 2,000 new introductions.\nThe Industrial business grew 3% organically in the face of\nmixed end-markets. The industrial fastener and attachment\ntool businesses delivered mid-teens growth, offsetting\nCOVID-driven sector headwinds in the automotive and\naerospace sectors.\nA Strong 2021 Performance from\nthe World’s Largest Tool Company\nIn 2021, we capitalized on extraordinarily strong customer\ndemand fueled by macro trends, including the reconnection\nwith home and garden, eCommerce and electrification. With\nour innovative products and portfolio of leading brands, we\nare uniquely positioned to leverage these secular tailwinds.\nFull-year revenue totaled $15.6 billion, a 20% increase from\nthe prior year, including 17% organic growth with all our\nbusinesses contributing. Our full-year operating margin rate\nwas 13.9%*, and we delivered record diluted EPS* of $10.48,\nup 30% over the prior year. We navigated a dynamic market\nand operating backdrop and prioritized serving the\n* Excludes Acquisition-Related and Other Charges\nBuilding the Supply Chain\nof the Future\nThe Stanley Black & Decker Operating Model (SBD\nOperating Model) also supports our growing manufacturing\nbase and supply chain. As the world’s largest tool company\nand the only major power tool manufacturer domiciled in\nthe U.S., we expanded to 50 manufacturing facilities across\nAmerica as well as more than 100 facilities worldwide\nto serve our local customers abroad. To support this\nmanufacturing ecosystem, we are taking the opportunity\nto reimagine our supply chain for the future to be more\nefficient and to better serve our customers. This includes\ncapacity expansion, strategic sourcing, factory automation\nand AI, and supporting U.S. manufacturing here at home.\n2021 SUMMARY OF RESULTS (CONTINUING OPERATIONS)\n$15.6B\nTOTAL REVENUES\n+20% Versus Prior Year\n17%**\nORGANIC REVENUE\nGROWTH\n14%*\nOPERATING\nMARGIN\n** Organic sales growth, or organic growth, is defined as the difference between total current and prior year sales less the impact of companies",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000187_segments",
      "report_id": "ID_000187",
      "company_name": "Stanley Black & Decker",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Tools & Storage and Industrial",
      "golden_context": "Page 18:\n\nDescription of the Business\nThe Company’s operations are classified into two reportable business segments: Tools & Storage and Industrial. The Company\nhas one non-reportable business operating segment, Mechanical Access Solutions (\"MAS\"). All reportable segments have\nsignificant international operations and are exposed to translational and transactional impacts from fluctuations in foreign\ncurrency exchange rates.\nAdditional information regarding the Company’s business segments and geographic areas is incorporated herein by reference to\nthe material captioned “Business Segment Results” in Item 7 and Note P, Business Segments and Geographic Areas, of the\nNotes to Consolidated Financial Statements in Item 8.\nTools & Storage\nThe Tools & Storage segment is comprised of the Power Tools Group (\"PTG\"), Hand Tools, Accessories & Storage (\"HTAS\"),\nand Outdoor Power Equipment (\"Outdoor\") businesses. Annual revenues in the Tools & Storage segment were $12.8 billion in\n2021, representing 82% of the Company’s total revenues.\nThe PTG business includes both professional and consumer products. Professional products include professional grade corded\nand cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers and\nsanders, as well as pneumatic tools and fasteners including nail guns, nails, staplers and staples, concrete and masonry anchors.\nConsumer products include corded and cordless electric power tools sold primarily under the BLACK+DECKER® brand, and\nhome products such as hand-held vacuums, paint tools and cleaning appliances.\nThe HTAS business sells hand tools, power tool accessories and storage products. Hand tools include measuring, leveling and\nlayout tools, planes,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_cash_flow",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow -1990m, operating activities: -1460m",
      "golden_context": "Page 10:\n\nFinancial Summary1\n(MILLIONS OF DOLLARS, EXCEPT PER-SHARE\nAMOUNTS, CONTINUING OPERATIONS) 20222 20212 20202\nSWK\nRevenue Gross Profit Gross Margin Operating Profit Operating Margin Free Cash Flow GAAP Diluted EPS $ 16,947.4 $ 4,411.5 26.0% $ 1,221.8 7.2% $ (1,990) $ 1.06 $ 15,281.3 $ 5,131.2 33.6% $ 2,121.7 13.9% $ 144 $ 9.33 $ 12,750.0\n$ 4,377.1\n34.3%\n$ 1,912.6\n15.0%\n$ 1,674\n$ 6.97\nAdjusted Diluted EPS3 $ 4.62 $ 10.18 $ 7.79\nTools & Outdoor\nRevenue Segment Margin $ 14,423.7 Segment Profit $ 1,207.3 $ 2,163.8 $ 1,866.7\n8.4% $ 12,817.4 16.9% $ 10,329.7\n18.1%\nIndustrial\nRevenue Segment Profit Segment Margin $ 2,523.4 $ 244.0 9.7% $ 2,463.1 $ 269.7 10.9% $ 2,352.7\n$ 287.7\n12.2%\n1 In the first quarter of 2022, the Company classified the results of the Mechanical Access Solutions (“MAS”)\nbusiness as held for sale upon announcing it reached a definitive agreement for the sale of its automatic\ndoors business. The results for 2021 and 2020 were recast for discontinued operations for comparability.\n2 Other than Revenue and GAAP Diluted EPS, results reflect non-GAAP financial measures. Non-GAAP financial\nmeasures should not be considered replacements for, and should be read together with, the most comparable\nGAAP financial measures.\nWith the exception of Free Cash Flow, Non-GAAP financial measures exclude acquisition-related charges, a non-\ncash asset impairment charge related to the Oil & Gas business, a non-cash fair value adjustment, gain or loss on\nsales of businesses, cost reduction programs, charges related to the extinguishment of debt, margin resiliency\ninitiatives, functional transformation initiatives, restructuring, the release of a contingent consideration liability\nrelating to the CAM acquisition, and a one-time tax benefit related to a supply chain reorganization, as applicable.\nFree Cash Flow = Net cash flow from operating activities less capital and software expenditures. Refer to\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7 of this Annual\nReport on Form 10-K for Non-GAAP reconciliations.\n3 The Company has excluded $558 million of after-tax charges ($3.56 of diluted EPS) including a non-cash asset\nimpairment charge related to the Oil & Gas business and charges related to restructuring, acquisitions and a\nvoluntary retirement program, in the 2022 calculation of diluted EPS. The Company has excluded $141 million\nof after-tax charges ($0.85 of diluted EPS) related to acquisitions, a non-cash fair value adjustment, functional\ntransformation initiatives and restructuring, partially offset by a gain o\n\nPage 51-52:\n\nk discussion is intended to provide broad insight into the Company's near-term earnings and cash flow generation\nprospects. The Company expects 2023 diluted earnings per share to approximate ($1.65) to $0.85 on a GAAP basis ($0.00 to\n$2.00 excluding acquisition-related and other charges). The band reflects the wider range of 2023 demand possibilities and\ndestocking scenarios with an earnings per share loss expected in the first half of 2023 as the Company prioritizes free cash flow\ngeneration. Free cash flow is expected to approximate $0.5 billion to $1.0 billion, significantly ahead of net income, as the\nCompany focuses on serving its customers while leveraging the SBD Operating Model to drive working capital efficiency.\nThe difference between 2023 diluted earnings per share outlook and the diluted earnings per share range, excluding charges, is\napproximately $1.15 to $1.65, consisting of acquisition-related charges and other charges primarily due to supply chain\ntransformation under the Global Cost Reduction Program.\nFINANCIAL CONDITION\nLiquidity, Sources and Uses of Capital: The Company’s primary sources of liquidity are cash flows generated from operations\nand available lines of credit under various credit facilities.\nOperating Activities: Cash flows used in operations were $1.460 billion in 2022 compared to cash provided by operations of\n$663.1 million in 2021. The year-over-year decrease was mainly attributable to lower accounts payable balances, lower\nearnings from continuing operations, and higher inventory balances. During the second half of 2020 and during 2021, the\nCompany experienced higher than historical customer demand and increased supply chain constraints, resulting in historically\nhigh inventory levels. As consumer and DIY demand softened in the second quarter of 2022, the Company’s inventory levels\npeaked in the first half of the year. As previously discussed, the Company is focused on reducing inventory levels as evidenced\nby a decline of $775 million during the second half of 2022.\nIn 2021, cash flows provided by operations were $663.1 million compared to $2.022 billion in 2020. The year-over-year\ndecrease was mainly attributable to higher inventory levels to meet anticipated demand within the Tools & Outdoor segment,\ncoupled with longer lead times related to the challenged global supply chain.\n37\nFree Cash Flow and CFROI: Free cash flow, as defined in the table below, was an outflow of $1.990 billion in 2022 compared\nto inflows of $144 million and $1.674 billion in 2021 and 2020, respectively. The decrease in free cash flow in 2022 was\nprimarily due to the same factors discussed above in operating activities. The Company has implemented significant actions\nthroughout 2022 to further reduce inventory and working capital, and support strong free cash flow generation in 2023. CFROI,\none of the Company's long-term financial measures, is computed as cash from operations plus after-tax interest expense,\ndivided by the two-point average of debt and equity. Management considers free cash flow and CFROI important indicators of\nits liquidity and capital efficiency, as well as its ability to fund future growth and provide dividends to shareowners, and is\nuseful information for investors. Free cash flow and cash from operations used in CFROI do not include deductions for\nmandatory debt service, other borrowing activity, discretionary dividends on the Company’s common and preferred stock and\nbusiness acquisitions, among other items.\n(Millions of Dollars) 2022 2021 2020\nNet cash (used in) provided by operating activities ................................. $ (1,460) $ 663 $ 2,022\nLess: capital and software expenditures ................................................... (530) (519) (348)\nFree cash flow ........................................................................................... $ (1,990) $ 144 $ 1,674\nInvesting Activities: Cash flows provided by investing activities totaled $3.573 billion in 2022 primarily due to proceeds from\nthe Security and Oil & Gas divestitures, net of cash sold, of $4.147 billion, partially offset by capital and software expenditures\nof $530 million.\nCash flows used in investing activities in 2021 totaled $2.624 billion, driven by business acquisitions of $2.044 billion, net of\ncash acquired, primarily related to the MTD and Excel acquisitions, and capital and software expenditures of $519 million.\nCash flows used in investing activities in 2020 totaled $1.577 billion, driven by business acquisitions of $1.324 billion, net of\ncash acquired, primarily related to the CAM acquisition, and capital and software expenditures of $348 million.\nFinancing Activities: Cash flows used in financing activities totaled $1.971 billion in 2022 primarily driven by share\nrepurchases of $2.323 billion, credit facility repayments of $2.5 billion, the redemption and conversion of preferred stock for\n$750 million, cash dividend payments on common stock of $466 million, and net repayments of short-term commercial paper\nborrowings of $138 million, partially offset by $2.5 bi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_company_type",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 15:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ___________ to ___________\nCommission File Number 001-05224\nSTANLEY BLACK & DECKER, INC.\n(Exact Name Of Registrant As Specified In Its Charter)\nConnecticut 06-0548860\n(I.R.S. Employer\nIdentification Number)\n(State or Other Jurisdiction of\nIncorporation or Organization)\nTitle Of Each Class 1000 STANLEY DRIVE\nNEW BRITAIN, CT 06053\n(Address of Principal Executive Offices and Zip Code)\nRegistrant’s Telephone Number, Including Area Code 860 225-5111\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name Of Each Exchange on Which Registered\nCommon Stock $2.50 Par Value per Share New York Stock Exchange\nSWK Securities Registered Pursuant To Section 12(g) Of The Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past\n90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_key_financials",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Total revenues were up 11%, 16.9bn revenues, 4.62m adjusted diluted EPS",
      "golden_context": "Page 4-5:\n\nchallenge of operating longer procurement and production\ntimelines in a short-cycle market. It became apparent that\nwe needed to initiate a transformative shift in our business\nto better leverage our strengths, and we began to do so\nin the back half of 2022. We have a well-defined plan over\nthe next three years that streamlines inventory, extracts\n$2 billion of operating cost, deploys a new supply chain\nthat can better serve our customers, all while continuing\nto invest in innovation and growth. These targeted\nactions are fueling our strategy, and are intended to return\nour adjusted gross margins* to 35%-plus and enable\n$300 million to $500 million of incremental investment\nto accelerate organic growth.\nIn 2022, total revenues were up 11% year over year\nsupported by strategic outdoor acquisitions, improved\nprice realization, and 9% organic growth* in the Industrial\nsegment. As the year progressed, our professional\nconstruction and industrial facing end-markets remained\nstrong, while we navigated significant retractions from the\nrecord demand we experienced in the outdoor and\nconsumer-driven do-it-yourself (DIY) tool markets in 2021.\nThese unprecedented shifts in demand, in addition to\ninflationary and supply chain pressures, resulted in muted\noperating margin performance and bottom-line adjusted\nearnings per share* of $4.62. To better position the\nCompany in this operating environment we prioritized\nfree cash flow generation, primarily driven by\ncomprehensive inventory reduction actions as well as\noptimizing our production levels later in the year.\n2022 SUMMARY OF RESULTS\n(CONTINUING OPERATIONS)\n$16.9B\nTOTAL REVENUES\nLooking ahead, as global interest rates continue to rise,\nwe are prepared for a continuation of uncertain demand\nin 2023 and are planning our cost structure for a range\nof outcomes. However, I could not be more optimistic\nabout the long-term view for the industries we serve, with\npowerful generational shifts into housing, more time at\nhome with hybrid work, an aging housing stock that needs\nrepair and remodel, supportive aerospace demand and the\nelectrification within the outdoor and automotive markets.\nWe are making deliberate, strategic investments in our\nbusinesses to position the Company to fully capitalize on\nthese opportunities to build upon our industry-leading\nposition and deliver strong shareholder value over the long\nterm via robust organic growth and enhanced profitability.\n11%\nTOTAL REVENUE GROWTH\n7%\nPRICE REALIZATION\n$4.62\nAdjusted Diluted EPS*\nReducing Complexity and Creating a\nMore Focused Company\nDuring 2022, we successfully completed the divestitures of\nour Electronic Security, Access Technologies and Oil & Gas\nbusinesses for proceeds in excess of $4 billion. Through\nthese divestitures, and with our successful integrations\nof MTD and Excel, we have created a more focused\nCompany, centered around our core market leadership\npositions in Tools & Outdoor as well as Industrial. In addition,\nthis unlocked the opportunity to remove $500 million of\noverhead costs by the end of 2023 as we re-centered\nour corporate and business priorities, increased the span\nof control of our leaders and meaningfully reduced the\nnumber of operational layers in the Company. These funds\nare expected to fuel the investments for growth in our core\nfranchises, while simplifying our business processes and\nestablishing a more nimble organization.\nIn addition to creating a stronger and more focused\nenterprise, the proceeds from our portfolio moves allowed\nus to return $2.8 billion of capital to our shareholders through\nshare repurchases and cash dividends. We also raised\nour quarterly cash dividend in July, our 55th consecutive\nSTRATEGIC TRANSFORMATION\nInitiated execution in July 2022, with targeted\nactions to streamline our operations and to\nsimplify our organization. Positive momentum\nis building, as evidenced by:\n$775M\n2H INVENTORY REDUCTION\n$200M\n2H PRE-TAX COST SAVINGS\n$520M\n4Q FREE CASH FLOW* GENERATION\n* Non-GAAP financial measure; non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable\nGAAP financial measures. Organic revenue growth, or organic growth, is defined as the difference between total current and prior year sales less the impact\nof companies acquired and divested in the past twelve months and any foreign currency impacts divided by prior year sales. Diluted EPS, excluding charges,\nor adjusted EPS, is diluted GAAP EPS excluding the impacts of acquisition-related and other charges. Free cash flow is defined as cash flow from operations\nless capital and software expenditures. The net cash provided by operating activities for the fourth quarte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_revenue",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "16.9bn",
      "golden_context": "Page 4-5:\n\nchallenge of operating longer procurement and production\ntimelines in a short-cycle market. It became apparent that\nwe needed to initiate a transformative shift in our business\nto better leverage our strengths, and we began to do so\nin the back half of 2022. We have a well-defined plan over\nthe next three years that streamlines inventory, extracts\n$2 billion of operating cost, deploys a new supply chain\nthat can better serve our customers, all while continuing\nto invest in innovation and growth. These targeted\nactions are fueling our strategy, and are intended to return\nour adjusted gross margins* to 35%-plus and enable\n$300 million to $500 million of incremental investment\nto accelerate organic growth.\nIn 2022, total revenues were up 11% year over year\nsupported by strategic outdoor acquisitions, improved\nprice realization, and 9% organic growth* in the Industrial\nsegment. As the year progressed, our professional\nconstruction and industrial facing end-markets remained\nstrong, while we navigated significant retractions from the\nrecord demand we experienced in the outdoor and\nconsumer-driven do-it-yourself (DIY) tool markets in 2021.\nThese unprecedented shifts in demand, in addition to\ninflationary and supply chain pressures, resulted in muted\noperating margin performance and bottom-line adjusted\nearnings per share* of $4.62. To better position the\nCompany in this operating environment we prioritized\nfree cash flow generation, primarily driven by\ncomprehensive inventory reduction actions as well as\noptimizing our production levels later in the year.\n2022 SUMMARY OF RESULTS\n(CONTINUING OPERATIONS)\n$16.9B\nTOTAL REVENUES\nLooking ahead, as global interest rates continue to rise,\nwe are prepared for a continuation of uncertain demand\nin 2023 and are planning our cost structure for a range\nof outcomes. However, I could not be more optimistic\nabout the long-term view for the industries we serve, with\npowerful generational shifts into housing, more time at\nhome with hybrid work, an aging housing stock that needs\nrepair and remodel, supportive aerospace demand and the\nelectrification within the outdoor and automotive markets.\nWe are making deliberate, strategic investments in our\nbusinesses to position the Company to fully capitalize on\nthese opportunities to build upon our industry-leading\nposition and deliver strong shareholder value over the long\nterm via robust organic growth and enhanced profitability.\n11%\nTOTAL REVENUE GROWTH\n7%\nPRICE REALIZATION\n$4.62\nAdjusted Diluted EPS*\nReducing Complexity and Creating a\nMore Focused Company\nDuring 2022, we successfully completed the divestitures of\nour Electronic Security, Access Technologies and Oil & Gas\nbusinesses for proceeds in excess of $4 billion. Through\nthese divestitures, and with our successful integrations\nof MTD and Excel, we have created a more focused\nCompany, centered around our core market leadership\npositions in Tools & Outdoor as well as Industrial. In addition,\nthis unlocked the opportunity to remove $500 million of\noverhead costs by the end of 2023 as we re-centered\nour corporate and business priorities, increased the span\nof control of our leaders and meaningfully reduced the\nnumber of operational layers in the Company. These funds\nare expected to fuel the investments for growth in our core\nfranchises, while simplifying our business processes and\nestablishing a more nimble organization.\nIn addition to creating a stronger and more focused\nenterprise, the proceeds from our portfolio moves allowed\nus to return $2.8 billion of capital to our shareholders through\nshare repurchases and cash dividends. We also raised\nour quarterly cash dividend in July, our 55th consecutive\nSTRATEGIC TRANSFORMATION\nInitiated execution in July 2022, with targeted\nactions to streamline our operations and to\nsimplify our organization. Positive momentum\nis building, as evidenced by:\n$775M\n2H INVENTORY REDUCTION\n$200M\n2H PRE-TAX COST SAVINGS\n$520M\n4Q FREE CASH FLOW* GENERATION\n* Non-GAAP financial measure; non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable\nGAAP financial measures. Organic revenue growth, or organic growth, is defined as the difference between total current and prior year sales less the impact\nof companies acquired and divested in the past twelve months and any foreign currency impacts divided by prior year sales. Diluted EPS, excluding charges,\nor adjusted EPS, is diluted GAAP EPS excluding the impacts of acquisition-related and other charges. Free cash flow is defined as cash flow from operations\nless capital and software expenditures. The net cash provided by operating activities for the fourth quarte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_revenue_growth",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "11% revenues",
      "golden_context": "Page 4-5:\n\nchallenge of operating longer procurement and production\ntimelines in a short-cycle market. It became apparent that\nwe needed to initiate a transformative shift in our business\nto better leverage our strengths, and we began to do so\nin the back half of 2022. We have a well-defined plan over\nthe next three years that streamlines inventory, extracts\n$2 billion of operating cost, deploys a new supply chain\nthat can better serve our customers, all while continuing\nto invest in innovation and growth. These targeted\nactions are fueling our strategy, and are intended to return\nour adjusted gross margins* to 35%-plus and enable\n$300 million to $500 million of incremental investment\nto accelerate organic growth.\nIn 2022, total revenues were up 11% year over year\nsupported by strategic outdoor acquisitions, improved\nprice realization, and 9% organic growth* in the Industrial\nsegment. As the year progressed, our professional\nconstruction and industrial facing end-markets remained\nstrong, while we navigated significant retractions from the\nrecord demand we experienced in the outdoor and\nconsumer-driven do-it-yourself (DIY) tool markets in 2021.\nThese unprecedented shifts in demand, in addition to\ninflationary and supply chain pressures, resulted in muted\noperating margin performance and bottom-line adjusted\nearnings per share* of $4.62. To better position the\nCompany in this operating environment we prioritized\nfree cash flow generation, primarily driven by\ncomprehensive inventory reduction actions as well as\noptimizing our production levels later in the year.\n2022 SUMMARY OF RESULTS\n(CONTINUING OPERATIONS)\n$16.9B\nTOTAL REVENUES\nLooking ahead, as global interest rates continue to rise,\nwe are prepared for a continuation of uncertain demand\nin 2023 and are planning our cost structure for a range\nof outcomes. However, I could not be more optimistic\nabout the long-term view for the industries we serve, with\npowerful generational shifts into housing, more time at\nhome with hybrid work, an aging housing stock that needs\nrepair and remodel, supportive aerospace demand and the\nelectrification within the outdoor and automotive markets.\nWe are making deliberate, strategic investments in our\nbusinesses to position the Company to fully capitalize on\nthese opportunities to build upon our industry-leading\nposition and deliver strong shareholder value over the long\nterm via robust organic growth and enhanced profitability.\n11%\nTOTAL REVENUE GROWTH\n7%\nPRICE REALIZATION\n$4.62\nAdjusted Diluted EPS*\nReducing Complexity and Creating a\nMore Focused Company\nDuring 2022, we successfully completed the divestitures of\nour Electronic Security, Access Technologies and Oil & Gas\nbusinesses for proceeds in excess of $4 billion. Through\nthese divestitures, and with our successful integrations\nof MTD and Excel, we have created a more focused\nCompany, centered around our core market leadership\npositions in Tools & Outdoor as well as Industrial. In addition,\nthis unlocked the opportunity to remove $500 million of\noverhead costs by the end of 2023 as we re-centered\nour corporate and business priorities, increased the span\nof control of our leaders and meaningfully reduced the\nnumber of operational layers in the Company. These funds\nare expected to fuel the investments for growth in our core\nfranchises, while simplifying our business processes and\nestablishing a more nimble organization.\nIn addition to creating a stronger and more focused\nenterprise, the proceeds from our portfolio moves allowed\nus to return $2.8 billion of capital to our shareholders through\nshare repurchases and cash dividends. We also raised\nour quarterly cash dividend in July, our 55th consecutive\nSTRATEGIC TRANSFORMATION\nInitiated execution in July 2022, with targeted\nactions to streamline our operations and to\nsimplify our organization. Positive momentum\nis building, as evidenced by:\n$775M\n2H INVENTORY REDUCTION\n$200M\n2H PRE-TAX COST SAVINGS\n$520M\n4Q FREE CASH FLOW* GENERATION\n* Non-GAAP financial measure; non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable\nGAAP financial measures. Organic revenue growth, or organic growth, is defined as the difference between total current and prior year sales less the impact\nof companies acquired and divested in the past twelve months and any foreign currency impacts divided by prior year sales. Diluted EPS, excluding charges,\nor adjusted EPS, is diluted GAAP EPS excluding the impacts of acquisition-related and other charges. Free cash flow is defined as cash flow from operations\nless capital and software expenditures. The net cash provided by operating activities for the fourth quarte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000188_segments",
      "report_id": "ID_000188",
      "company_name": "Stanley Black & Decker",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Tools & Outdoor and Industrial",
      "golden_context": "Page 18:\n\nCompany established an environmental, social, and corporate governance (\"ESG\") strategy to drive\npositive impact for people, products, and the planet.\nThe recent portfolio transformation prompted the Company to re-baseline its ESG data and update its ESG targets to align with\nthe more focused Company, while maintaining continuity with the legacy ESG pillars of people, products, and planet. The\nupdated strategy and targets will be described in more detail within the Company’s ESG report to be released in 2023. The\nCompany's renewed ESG priorities are as follows:\n• Supporting the long-term viability of the skilled trades that the Company serves and which are integral to thriving\neconomic communities by focusing philanthropic efforts on growing these trades;\n• Driving responsible product innovation by considering sustainability throughout all aspects of the product lifecycle,\nincluding material procurement from supply chain partners, product design, manufacturing, distribution and\ntransportation, product use, product service, and end-of-life; and\n• Improving the sustainability of its operations by reducing carbon emissions, waste to landfill, and water use in water-\nstressed and scarce areas.\nRefer to the \"Human Capital Management\" section in this Item 1 below for additional information regarding the Company's\ncommitment to supporting its employees and improving diversity, equity and inclusion.\nDescription of the Business\nThe Company’s operations are classified into two reportable business segments: Tools & Outdoor and Industrial. Both\nreportable segments have significant international operations and are exposed to translational and transactional impacts from\nfluctuations in foreign currency exchange rates.\nAdditional information regarding the Company’s business segments and geographic areas is incorporated herein by reference to\nthe material captioned “Business Segment Results” in Item 7 and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_cash_flow",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "1.2bn cash flow from operating activities, 853m free cash flow",
      "golden_context": "Page 5:\n\nWhile we are relentlessly executing our strategic business\ntransformation and returning the business to its full normalized\nearnings power, two key financial metrics best reflect the\nprogress we made in 2023: adjusted gross margin1 and free\ncash flow.1 The actions we took helped deliver results across\nboth of these dimensions, laying a strong foundation for\nimproved profitability in 2024.\n•\nAdjusted Gross Margin1 Our supply chain transformation\nhas now generated over $0.5 billion of pre-tax run-rate\ncost savings since inception. Those savings, combined\nwith an improved global supply chain environment and\nthe actions we took to reduce inventory, improved gross\nmargin sequentially each quarter of 2023, with adjusted\ngross margin1 approaching 30% in the fourth quarter, up\n10.3 points compared to the fourth quarter of 2022.\n•\nFree Cash Flow1 In mid-2022 we made the strategic\ndecision to significantly curtail production to reduce\nour balance sheet inventory and increase cash\ngeneration. These actions, along with our continued\nfocus on inventory management, have yielded strong\nresults. We reduced inventory by $1.9 billion since\nmid-2022, including $1.1 billion in 2023 alone, which\ncontributed to our $853 million of full year free\ncash flow.1\nThis year will bring the next chapter of our transformation:\nan opportunity to demonstrate our ability to further improve\nprofitability and cash flow. This will be another year of\nprogress, as we continue deepening connections with our\nend users in partnership with our customers to grow our core\nbusinesses and generate greater future earnings power.\nLooking beyond 2024, we continue to have conviction\nin the long-term growth opportunities in our industries.\nWe have powerful brands and a strong innovation engine\nthat will position us to win even more with our customers\nand outperform in the markets we serve. As we manage\nthrough the near-term macroeconomic cycle, we remain\nfocused on delivering best-in-class product innovation,\nimplementing cost efficiency measures within our control\nand driving share gain in our core markets.\n2023 Summary of Results\n$15.8B\nTOTAL REVENUES\n28.2%\n2H GROSS MARGIN RATE\n+630 Bps VPY\n28.7%\n2H ADJUSTED GROSS MARGIN RATE1\n+660 Bps VPY\n$1.2B\nCASH FROM OPERATING ACTIVITIES\n$853M\nFREE CASH FLOW1\nStrategic Transformation\nProgram-to-Date (Since Mid-2022)\n$1.9B\nINVENTORY REDUCTION\n$1.0B+\nPRE-TAX RUN-RATE COST SAVINGS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_company_type",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 15:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 30, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ___________ to ___________\nCommission File Number 001-05224\nSTANLEY BLACK & DECKER, INC.\n(Exact Name Of Registrant As Specified In Its Charter)\nConnecticut 06-0548860\n(I.R.S. Employer\nIdentification Number)\n(State or Other Jurisdiction of\nIncorporation or Organization)\nTitle Of Each Class 1000 STANLEY DRIVE\nNEW BRITAIN, CT 06053\n(Address of Principal Executive Offices)\nRegistrant’s Telephone Number, Including Area Code 860 225-5111\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name Of Each Exchange on Which Registered\nCommon Stock $2.50 Par Value per Share New York Stock Exchange\nSWK Securities Registered Pursuant To Section 12(g) Of The Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past\n90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes þ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the\nExchange Act.\nLarge Accelerated Filer þ Accelerated Filer ¨\nNon-Accelerated Filer ¨ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected no",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_key_financials",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "15.8bn revenues, 1.2bn cash from operating activities",
      "golden_context": "Page 5:\n\nWhile we are relentlessly executing our strategic business\ntransformation and returning the business to its full normalized\nearnings power, two key financial metrics best reflect the\nprogress we made in 2023: adjusted gross margin1 and free\ncash flow.1 The actions we took helped deliver results across\nboth of these dimensions, laying a strong foundation for\nimproved profitability in 2024.\n•\nAdjusted Gross Margin1 Our supply chain transformation\nhas now generated over $0.5 billion of pre-tax run-rate\ncost savings since inception. Those savings, combined\nwith an improved global supply chain environment and\nthe actions we took to reduce inventory, improved gross\nmargin sequentially each quarter of 2023, with adjusted\ngross margin1 approaching 30% in the fourth quarter, up\n10.3 points compared to the fourth quarter of 2022.\n•\nFree Cash Flow1 In mid-2022 we made the strategic\ndecision to significantly curtail production to reduce\nour balance sheet inventory and increase cash\ngeneration. These actions, along with our continued\nfocus on inventory management, have yielded strong\nresults. We reduced inventory by $1.9 billion since\nmid-2022, including $1.1 billion in 2023 alone, which\ncontributed to our $853 million of full year free\ncash flow.1\nThis year will bring the next chapter of our transformation:\nan opportunity to demonstrate our ability to further improve\nprofitability and cash flow. This will be another year of\nprogress, as we continue deepening connections with our\nend users in partnership with our customers to grow our core\nbusinesses and generate greater future earnings power.\nLooking beyond 2024, we continue to have conviction\nin the long-term growth opportunities in our industries.\nWe have powerful brands and a strong innovation engine\nthat will position us to win even more with our customers\nand outperform in the markets we serve. As we manage\nthrough the near-term macroeconomic cycle, we remain\nfocused on delivering best-in-class product innovation,\nimplementing cost efficiency measures within our control\nand driving share gain in our core markets.\n2023 Summary of Results\n$15.8B\nTOTAL REVENUES\n28.2%\n2H GROSS MARGIN RATE\n+630 Bps VPY\n28.7%\n2H ADJUSTED GROSS MARGIN RATE1\n+660 Bps VPY\n$1.2B\nCASH FROM OPERATING ACTIVITIES\n$853M\nFREE CASH FLOW1\nStrategic Transformation\nProgram-to-Date (Since Mid-2022)\n$1.9B\nINVENTORY REDUCTION\n$1.0B+\nPRE-TAX RUN-RATE COST SAVINGS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_revenue",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "15.8bn revenues",
      "golden_context": "Page 10:\n\nFINANCIAL SUMMARY\n(MILLIONS OF DOLLARS, EXCEPT PER-SHARE\nAMOUNTS, CONTINUING OPERATIONS) 2023 2022 2021\nSWK\nRevenue Gross Profit Adjusted Gross Profit3 Adjusted Gross Margin3\nCash from Operating Activities Free Cash Flow3 GAAP Diluted EPS Adjusted Diluted EPS3 $ 15,781.1 $ 16,947.4 $ 15,281.3\n$ 3,932.6 $ 4,284.1 $ 5,092.2\nGross Margin 24.9% 25.3% 33.3%\n$ 4,099.5 $ 4,411.5 $ 5,131.2\n26.0% 26.0% 33.6%\n$ 1,191.3 $ (1,459.5) $ 663.1\n$ 852.6 $ (1,989.9) $ 144.0\n$ (1.88) $ 1.06 $ 9.33\n$ 1.45 $ 4.62 $ 10.18\nTools & Outdoor\nRevenue Segment Profit Adjusted Segment Profit3 $ 13,367.1 $ 14,423.7 $ 12,817.4\n$ 687.6 $ 971.9 $ 1,985.4\nSegment Margin 5.1% 6.7% 15.5%\n$ 884.3 $ 1,207.3 $ 2,163.8\nAdjusted Segment Margin3 6.6% 8.4% 16.9%\nIndustrial\nRevenue Segment Profit Adjusted Segment Profit3 $ 2,414.0 $ 2,523.4 $ 2,463.1\n$ 266.5 $ 236.2 $ 256.6\nSegment Margin 11.0% 9.4% 10.4%\n$ 285.2 $ 244.0 $ 269.7\nAdjusted Segment Margin3 11.8% 9.7% 10.9%\n3\nNon-GAAP financial measure; Non-GAAP financial measures should not be considered replacements\nfor, and should be read together with, the most comparable GAAP financial measures. The Company\nconsiders the use of the Non-GAAP financial measures above relevant to aid analysis and understanding",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_revenue_growth",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "-6% organic revenue, 15781.1m in 2023, 16947.4m in 2022",
      "golden_context": "Page 10:\n\nFINANCIAL SUMMARY\n(MILLIONS OF DOLLARS, EXCEPT PER-SHARE\nAMOUNTS, CONTINUING OPERATIONS) 2023 2022 2021\nSWK\nRevenue Gross Profit Adjusted Gross Profit3 Adjusted Gross Margin3\nCash from Operating Activities Free Cash Flow3 GAAP Diluted EPS Adjusted Diluted EPS3 $ 15,781.1 $ 16,947.4 $ 15,281.3\n$ 3,932.6 $ 4,284.1 $ 5,092.2\nGross Margin 24.9% 25.3% 33.3%\n$ 4,099.5 $ 4,411.5 $ 5,131.2\n26.0% 26.0% 33.6%\n$ 1,191.3 $ (1,459.5) $ 663.1\n$ 852.6 $ (1,989.9) $ 144.0\n$ (1.88) $ 1.06 $ 9.33\n$ 1.45 $ 4.62 $ 10.18\nTools & Outdoor\nRevenue Segment Profit Adjusted Segment Profit3 $ 13,367.1 $ 14,423.7 $ 12,817.4\n$ 687.6 $ 971.9 $ 1,985.4\nSegment Margin 5.1% 6.7% 15.5%\n$ 884.3 $ 1,207.3 $ 2,163.8\nAdjusted Segment Margin3 6.6% 8.4% 16.9%\nIndustrial\nRevenue Segment Profit Adjusted Segment Profit3 $ 2,414.0 $ 2,523.4 $ 2,463.1\n$ 266.5 $ 236.2 $ 256.6\nSegment Margin 11.0% 9.4% 10.4%\n$ 285.2 $ 244.0 $ 269.7\nAdjusted Segment Margin3 11.8% 9.7% 10.9%\n3\nNon-GAAP financial measure; Non-GAAP financial measures should not be considered replacements\nfor, and should be read together with, the most comparable GAAP financial measures. The Company\nconsiders the use of the Non-GAAP financial measures above relevant to aid analysis and understanding",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000189_segments",
      "report_id": "ID_000189",
      "company_name": "Stanley Black & Decker",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Tools & Outdoor and Industrial",
      "golden_context": "Page 19:\n\nl ESG report, issued in August 2023, details the evolution of its ESG strategy and refreshed public\ncommitments. The report includes a comprehensive review of the Company's ESG program and builds on a long history of\nannually reporting its sustainability metrics and public goals. As explained in the ESG report, the Company's goals contemplate\na number of assumptions and there can be no assurances that those assumptions will be correct or that such goals will be\nachieved or retained.\nDescription of the Business\nThe Company’s operations are classified into two reportable business segments: Tools & Outdoor and Industrial. Both\nreportable segments have significant international operations and are exposed to translational and transactional impacts from\nfluctuations in foreign currency exchange rates.\nAdditional information regarding the Company’s business segments and geographic areas is incorporated herein by reference to\nthe material captioned “Business Segment Results” in Item 7 and Note P, Business Segments and Geographic Areas, of the\nNotes to Consolidated Financial Statements in Item 8.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_cash_flow",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating activities: 577.5m",
      "golden_context": "Page 33:\n\n• reposition expenditures;\n• funding of property developments, redevelopments, acquisitions, and joint venture investments; and\n• the minimum dividend payments required to maintain our REIT qualification under the Code.\nFactors which could increase or decrease our future liquidity include but are not limited to volatility in capital and credit\nmarkets, changes in rent control or rent stabilization laws, sources of financing, the minimum REIT dividend requirements, our\nability to complete asset purchases, sales, or developments, the effect our debt level and changes in credit ratings could have on\nour cost of funds, and our ability to access capital markets. A variety of these factors, among others, could also be affected by\nthe continuation of the pandemic.\nCash Flows\nThe following is a discussion of our cash flows for the years ended December 31, 2021 and 2020.\nNet cash from operating activities was approximately $577.5 million during the year ended December 31, 2021 as\ncompared to approximately $519.3 million during the year ended December 31, 2020. The increase was primarily due to the\nincrease in property operations due to the growth attributable to our same store, non-same store, and development and lease-up\ncommunities. See further discussions of our 2021 operations as compared to 2020 in \"Results of Operations.\" The increase was\npartially offset by lower cash inflows from operating accounts due to lower prepayment of rental income received from our\nresidents, higher interest payments on our unsecured debt, and higher real estate tax payments in 2021 as compared to 2020.\nNet cash used in investing activities during the year ended December 31, 2021 totaled approximately $804.4 million as\ncompared to $429.6 million during the year ended December 31, 2020. Cash outflows during 2021 primarily related to the\nacquisition of four operating properties for approximately $630.0 million, and property development and capital improvements\nof approximately $428.7 million. These outflows were partially offset by net proceeds from the sale of three operating\nproperties of approximately $254.7 million. Cash outflows during 2020 primarily related to property development and capital\nimprovements of approximately $427.2 million, and increases in non-real estate assets of $7.5 million. The increase in property\ndevelopment and capital improvements for 2021, as compared to the same period in 2020, was primarily due to the acquisition\nof four land parcels in 2021, partially offset by a decrease in redevelopment activity and lower capital expenditures, capitalized\ninterest, real estate taxes and other capitalized indirect costs. The property development and capital improvements during\n2021 and 2020, included the following:\nDecember 31,\n(in millions) 2021 2020\nExpenditures for new development, including land $ 265.4 $ 239.9\nCapital expenditures 87.0 90.2\nReposition expenditures 47.6 48.7\nCapitalized interest, real estate taxes, and other capitalized indirect costs 28.7 31.7\nRedevelopment expenditures — 16.7\nTotal $ 428.7 $ 427.2\nNet cash from financing activities totaled approximately $421.4 million during the year ended December 31, 2021 as\ncompared to approximately $307.3 million during the year ended December 31, 2020. Cash inflows during 2021 primarily\nrelated to net proceeds of $759.2 million from the issuance of approximately 5.4 million common shares from our ATM\nprograms. These cash inflows were partially offset by approximately $343.0 million to pay distributions to common\nshareholders and non-controlling interest hol",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_company_type",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Trust",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-12110\nCAMDEN PROPERTY TRUST\n(Exact name of registrant as specified in its charter)\nTexas 76-6088377\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n11 Greenway Plaza, Suite 2400 Houston, Texas 77046\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (713) 354-2500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Shares of Beneficial Interest, $.01 par value Trading Symbol CPT Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No ý\nIndicate by check mark whether registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90\ndays. Yes ý No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of\n“large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (check one):\nLarge accelerated filer ý Accelerated filer ¨\nNon-accelerated filer ¨ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected to not use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant of Section 13(a) of the Exchange Act. ¨\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\n☒\nIndicate by check mark whether the registrant is a shell company (as defined in the Rule 12b-2 of the Act). Yes ☐ No ý\nThe aggregate market value of voting and non-voting common equity held by non-affiliates of the registrant was $13,268,781,625 based on a June 30, 2021 share price\nof $132.67.\nOn February 10, 2022, 103,429,458 common shares of the registran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_key_financials",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Property revenues 1'143'585k, total property NOI 726'560k",
      "golden_context": "Page 27:\n\nroperty-Level NOI (1)(2)\nProperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2021 as\ncompared to 2020:\nApartment\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2020 2021 2020 $ %\nProperty revenues:\nSame store communities 44,122 $ 971,872 $ 931,894 $ 39,978 4.3 %\nNon-same store communities 6,439 138,605 98,665 39,940 40.5\nDevelopment and lease-up communities 2,265 7,571 — 7,571 *\nResident Relief Funds — — (9,074) 9,074 *\nDispositions/other — 25,537 22,352 3,185 14.2\nTotal property revenues 52,826 $ 1,143,585 $ 1,043,837 $ 99,748 9.6 %\nProperty expenses:\nSame store communities 44,122 $ 351,210 $ 339,399 $ 11,811 3.5 %\nNon-same store communities 6,439 52,445 39,780 12,665 31.8\nDevelopment and lease-up communities 2,265 2,695 7 2,688 *\nPandemic expenses — — 4,540 (4,540) *\nDispositions/other — 10,675 11,100 (425) (3.8)\nTotal property expenses 52,826 $ 417,025 $ 394,826 $ 22,199 5.6 %\nProperty NOI:\nSame store communities 44,122 $ 620,662 $ 592,495 $ 28,167 4.8 %\nNon-same store communities 6,439 86,160 58,885 27,275 46.3\nDevelopment and lease-up communities 2,265 4,876 (7) 4,883 *\nPandemic Related Impact — — (13,614) 13,614 *\nDispositions/other — 14,862 11,252 3,610 32.1\nTotal property NOI 52,826 $ 726,560 $ 649,011 $ 77,549 11.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_revenue",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1'143'585k revenues",
      "golden_context": "Page 27:\n\nroperty-Level NOI (1)(2)\nProperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2021 as\ncompared to 2020:\nApartment\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2020 2021 2020 $ %\nProperty revenues:\nSame store communities 44,122 $ 971,872 $ 931,894 $ 39,978 4.3 %\nNon-same store communities 6,439 138,605 98,665 39,940 40.5\nDevelopment and lease-up communities 2,265 7,571 — 7,571 *\nResident Relief Funds — — (9,074) 9,074 *\nDispositions/other — 25,537 22,352 3,185 14.2\nTotal property revenues 52,826 $ 1,143,585 $ 1,043,837 $ 99,748 9.6 %\nProperty expenses:\nSame store communities 44,122 $ 351,210 $ 339,399 $ 11,811 3.5 %\nNon-same store communities 6,439 52,445 39,780 12,665 31.8\nDevelopment and lease-up communities 2,265 2,695 7 2,688 *\nPandemic expenses — — 4,540 (4,540) *\nDispositions/other — 10,675 11,100 (425) (3.8)\nTotal property expenses 52,826 $ 417,025 $ 394,826 $ 22,199 5.6 %\nProperty NOI:\nSame store communities 44,122 $ 620,662 $ 592,495 $ 28,167 4.8 %\nNon-same store communities 6,439 86,160 58,885 27,275 46.3\nDevelopment and lease-up communities 2,265 4,876 (7) 4,883 *\nPandemic Related Impact — — (13,614) 13,614 *\nDispositions/other — 14,862 11,252 3,610 32.1\nTotal property NOI 52,826 $ 726,560 $ 649,011 $ 77,549 11.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_revenue_growth",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1'143'585k revenues, 1'043'837 property revenues in the prior year.",
      "golden_context": "Page 27:\n\nroperty-Level NOI (1)(2)\nProperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2021 as\ncompared to 2020:\nApartment\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2020 2021 2020 $ %\nProperty revenues:\nSame store communities 44,122 $ 971,872 $ 931,894 $ 39,978 4.3 %\nNon-same store communities 6,439 138,605 98,665 39,940 40.5\nDevelopment and lease-up communities 2,265 7,571 — 7,571 *\nResident Relief Funds — — (9,074) 9,074 *\nDispositions/other — 25,537 22,352 3,185 14.2\nTotal property revenues 52,826 $ 1,143,585 $ 1,043,837 $ 99,748 9.6 %\nProperty expenses:\nSame store communities 44,122 $ 351,210 $ 339,399 $ 11,811 3.5 %\nNon-same store communities 6,439 52,445 39,780 12,665 31.8\nDevelopment and lease-up communities 2,265 2,695 7 2,688 *\nPandemic expenses — — 4,540 (4,540) *\nDispositions/other — 10,675 11,100 (425) (3.8)\nTotal property expenses 52,826 $ 417,025 $ 394,826 $ 22,199 5.6 %\nProperty NOI:\nSame store communities 44,122 $ 620,662 $ 592,495 $ 28,167 4.8 %\nNon-same store communities 6,439 86,160 58,885 27,275 46.3\nDevelopment and lease-up communities 2,265 4,876 (7) 4,883 *\nPandemic Related Impact — — (13,614) 13,614 *\nDispositions/other — 14,862 11,252 3,610 32.1\nTotal property NOI 52,826 $ 726,560 $ 649,011 $ 77,549 11.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000190_segments",
      "report_id": "ID_000190",
      "company_name": "Camden",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single segment",
      "golden_context": "Page 59:\n\nReportable Segments. We operate in a single reportable segment which includes the ownership, management,\ndevelopment, reposition, redevelopment, acquisition, and construction of multifamily apartment communities. Each of our\noperating properties is considered a separate operating segment as each property earns revenues and incurs expenses, individual\noperating results are reviewed and discrete financial information is available. We do not distinguish or group our consolidated\noperations based on geography, size or type. Our multifamily apartment communities have similar long-term economic\ncharacteristics and provide similar products and services to our residents. Further, all material operations are within the United",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_cash_flow",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "net cash from operating activities approx. 744.7m",
      "golden_context": "Page 32:\n\nments, redevelopments, and acquisitions; and\n• the minimum dividend payments required to maintain our REIT qualification under the Code.\nFactors which could increase or decrease our future liquidity include but are not limited to volatility in capital and credit markets, changes in rent control or\nrent stabilization laws, sources of financing, the minimum REIT dividend requirements, our ability to complete asset purchases, sales, or developments, the effect\nour debt level and changes in credit ratings could have on our cost of funds, and our ability to access capital markets.\nCash Flows\nThe following is a discussion of our cash flows for the years ended December 31, 2022 and 2021.\nNet cash from operating activities was approximately $744.7 million during the year ended December 31, 2022 as compared to approximately $577.5 million\nduring the year ended December 31, 2021. The increase was primarily due to the increase in cash from property operations due to our acquiring the remaining\ninterests in the Funds, and the growth attributable to our same store, non-same store and development and lease-up communities. See further discussions of our 2022\noperations as compared to 2021 in \"Results of Operations.\n\"\nNet cash used in investing activities during the year ended December 31, 2022 totaled approximately $1.5 billion as compared to $804.4 million during the\nyear ended December 31, 2021. Cash outflows during 2022 primarily related to the acquisition of the Funds for cash consideration of approximately $1.1 billion,\nand amounts paid for property development and capital improvements of approximately $449.4 million. These outflows were partially offset by net proceeds from\nthe sale of one operating property of approximately $70.5 million. Cash outflows during 2021 primarily related to the acquisition of four operating properties for\napproximately $630.0 million, and amounts paid for property development and capital improvements of approximately $428.7 million. These outflows were\npartially offset by net proceeds from the sale of three operating properties of approximately $254.7 million. The increase in property development and capital\nimprovements for 2022, as compared to the same period in 2021, was primarily due to higher capital expenditures, capitalized interest, real estate taxes and other\ncapitalized indirect costs, partially offset by the timing and completion of five consolidated operating properties in 2022 and 2021. The property development and\ncapital improvements during 2022 and 2021, included the following:\nDecember 31,\n(in millions) 2022 2021\nExpenditures for new development, including land $ 253.0 $ 265.4\nCapital expenditures 108.8 87.0\nReposition expenditures 53.0 47.6\nCapitalized interest, real estate taxes, and other capitalized indirect costs 34.6 28.7\nTotal $ 449.4 $ 428.7\nNet cash from financing activities totaled approximately $109.9 million during the year ended December 31, 2022 as compared to approximately $421.4\nmillion during the year ended December 31, 2021. Cash inflows during 2022 primarily related to net proceeds of $516.8 million from the issuance of approximately\n2.9 million common shares from our equity offering and approximately 0.2 million common shares from our ATM programs, as well as net proceeds of\napproximately $300.0 million of borrowings under our unsecured term loan, and net proceeds of $42.0 million of borrowings from our unsecured revolving credit\nfacility. These cash inflows were partially offset by approximately $396.8 million to pay distributions to common shareholders and non-controlling interest holders,\nand the repayment of $350.0 million senior unsecured notes in the fourth quarter of 2022. Cash inflows during 2021 primarily related to net proceeds of\napproximately $759.2 million from the issuance of approximately 5.4 million common shares from our ATM programs. These cash inflows were partially offset by\napproximately $343.0 million to pay distributions to common shareholders and non-controlling interest holders.\nFinancial Flexibility\nIn August 2022, we amended and restated our existing credit facility to among other things, add a $300 million unsecured term loan with a delayed draw\nfeature that matures in August 2024 (which may be extended at the Company's option to August 2025), and increase the capacity of our existing unsecured revolving\ncredit facility from $900 million to $1.2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_company_type",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Trust",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-12110\nCAMDEN PROPERTY TRUST\n(Exact name of registrant as specified in its charter)\nTexas 76-6088377\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n11 Greenway Plaza, Suite 2400 Houston, Texas 77046\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (713) 354-2500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Shares of Beneficial Interest, $.01 par value Trading Symbol CPT Securities registered pursuant to Section 12(g) of the Act:\nNone\nName of each exchange on which registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No ý\nIndicate by check mark whether registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter\nperiod that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,\n” “accelerated\nfiler” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (check one):\nLarge accelerated filer ý Accelerated filer ¨\nNon-accelerated filer ¨ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected to not use the extended transition period for complyi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_key_financials",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "1422756k, 1143585k prior year property revenues",
      "golden_context": "Page 26:\n\nperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2022 as compared to 2021:\nNumber of\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2022 2022 2021 $ %\nProperty revenues:\nSame store communities 46,151 $ 1,144,659 $ 1,029,585 $ 115,074 11.2 %\nNon-same store communities 12,282 264,784 82,553 182,231 220.7\nDevelopment and lease-up communities 2,219 2,173\n—\n2,173\n*\nDispositions/other —\n11,140 31,447 (20,307) (64.6)\nTotal property revenues 60,652 $ 1,422,756 $ 1,143,585 $ 279,171 24.4 %\nProperty expenses:\nSame store communities 46,151 $ 391,455 $ 372,600 $ 18,855 5.1 %\nNon-same store communities 12,282 100,163 31,512 68,651 217.9\nDevelopment and lease-up communities 2,219 918 (8) 926\n*\nHurricane expenses —\n1,000\n—\n1,000\n*\nDispositions/other —\n4,545 12,921 (8,376) (64.8)\nTotal property expenses 60,652 $ 498,081 $ 417,025 $ 81,056 19.4 %\nProperty NOI:\nSame store communities 46,151 $ 753,204 $ 656,985 $ 96,219 14.6 %\nNon-same store communities 12,282 164,621 51,041 113,580 222.5\nDevelopment and lease-up communities 2,219 1,255 8 1,247\n*\nHurricane expenses —\n(1,000) —\n(1,000) *\nDispositions/other —\n6,595 18,526 (11,931) (64.4)\nTotal property NOI 60,652 $ 924,675 $ 726,560 $ 198,115 27.3 %\n* Not a meaningful percentage.\n24",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_revenue",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1422756k",
      "golden_context": "Page 26:\n\nperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2022 as compared to 2021:\nNumber of\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2022 2022 2021 $ %\nProperty revenues:\nSame store communities 46,151 $ 1,144,659 $ 1,029,585 $ 115,074 11.2 %\nNon-same store communities 12,282 264,784 82,553 182,231 220.7\nDevelopment and lease-up communities 2,219 2,173\n—\n2,173\n*\nDispositions/other —\n11,140 31,447 (20,307) (64.6)\nTotal property revenues 60,652 $ 1,422,756 $ 1,143,585 $ 279,171 24.4 %\nProperty expenses:\nSame store communities 46,151 $ 391,455 $ 372,600 $ 18,855 5.1 %\nNon-same store communities 12,282 100,163 31,512 68,651 217.9\nDevelopment and lease-up communities 2,219 918 (8) 926\n*\nHurricane expenses —\n1,000\n—\n1,000\n*\nDispositions/other —\n4,545 12,921 (8,376) (64.8)\nTotal property expenses 60,652 $ 498,081 $ 417,025 $ 81,056 19.4 %\nProperty NOI:\nSame store communities 46,151 $ 753,204 $ 656,985 $ 96,219 14.6 %\nNon-same store communities 12,282 164,621 51,041 113,580 222.5\nDevelopment and lease-up communities 2,219 1,255 8 1,247\n*\nHurricane expenses —\n(1,000) —\n(1,000) *\nDispositions/other —\n6,595 18,526 (11,931) (64.4)\nTotal property NOI 60,652 $ 924,675 $ 726,560 $ 198,115 27.3 %\n* Not a meaningful percentage.\n24",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_revenue_growth",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1422756k, 1143585k prior year property revenues",
      "golden_context": "Page 26:\n\nperty NOI, as reconciled above, is detailed further into the categories below for the year ended December 31, 2022 as compared to 2021:\nNumber of\nYear Ended\nHomes at\nDecember 31, Change\n($ in thousands) 12/31/2022 2022 2021 $ %\nProperty revenues:\nSame store communities 46,151 $ 1,144,659 $ 1,029,585 $ 115,074 11.2 %\nNon-same store communities 12,282 264,784 82,553 182,231 220.7\nDevelopment and lease-up communities 2,219 2,173\n—\n2,173\n*\nDispositions/other —\n11,140 31,447 (20,307) (64.6)\nTotal property revenues 60,652 $ 1,422,756 $ 1,143,585 $ 279,171 24.4 %\nProperty expenses:\nSame store communities 46,151 $ 391,455 $ 372,600 $ 18,855 5.1 %\nNon-same store communities 12,282 100,163 31,512 68,651 217.9\nDevelopment and lease-up communities 2,219 918 (8) 926\n*\nHurricane expenses —\n1,000\n—\n1,000\n*\nDispositions/other —\n4,545 12,921 (8,376) (64.8)\nTotal property expenses 60,652 $ 498,081 $ 417,025 $ 81,056 19.4 %\nProperty NOI:\nSame store communities 46,151 $ 753,204 $ 656,985 $ 96,219 14.6 %\nNon-same store communities 12,282 164,621 51,041 113,580 222.5\nDevelopment and lease-up communities 2,219 1,255 8 1,247\n*\nHurricane expenses —\n(1,000) —\n(1,000) *\nDispositions/other —\n6,595 18,526 (11,931) (64.4)\nTotal property NOI 60,652 $ 924,675 $ 726,560 $ 198,115 27.3 %\n* Not a meaningful percentage.\n24",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000191_segments",
      "report_id": "ID_000191",
      "company_name": "Camden",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 58:\n\nReportable Segments. We operate in a single reportable segment which includes the ownership, management, development, reposition, redevelopment,\nacquisition, and construction of multifamily apartment communities. Each of our operating properties is considered a separate operating segment as each property\nearns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available. We do not distinguish or group our\nconsolidated operations based on geography, size or type. Our multifamily apartment communities have similar long-term economic characteristics and provide\nsimilar products and services to our residents. Further, all material operations are within the United States and no multifamily apartment community comprises more\nthan 10% of consolidated revenues. As a result, our operating properties are aggregated into a single reportable segment. Our multifamily communities generate\nproperty revenue through the leasing of apartment homes, which comprised approximately 99% of our total property revenues and total non-property income,\nexcluding income (loss) on deferred compensation plans, for each of the years ended December 31, 2022, 2021, and 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_cash_flow",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 292m, investing: -1158m, financing: -657",
      "golden_context": "Page 104:\n\nHOST HOTELS & RESORTS, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31, 2021, 2020 and 2019\n(in millions)\n2021 2020 2019\nOPERATING ACTIVITIES\nNet income(loss) .................................................................... $ (11) $ (741) $ 932\nAdjustmentsto reconcilenetincome(loss) to netcashprovided by (used in) operations:\nDepreciationand amortization ...................................................... 762 665 676\nAmortizationof financecosts,discountsand premiums,net .............................. 10 8 6\nLoss on extinguishmentof debt ..................................................... 23 36 56\nStock compensationexpense ....................................................... 18 17 15\nDeferred incometaxes ............................................................ (93) (165) 7\nOther gains ..................................................................... (306) (208) (339)\nGainon property insurancesettlement ............................................... — — (4)\nEquity in (earnings) lossesof affiliates ............................................... (31) 30 (14)\nChangein due from/to managers .................................................... (151) 96 3\nDistributionsfrom investmentsin affiliates ........................................... 21 10 11\nChangesin other assets ........................................................... 10 (33) 7\nChangesin other liabilities ........................................................ 40 (22) (106)\nNet cashprovided by (used in) operatingactivities.................................. 292 (307) 1,250\nINVESTING ACTIVITIES\nProceedsfrom salesof assets,net ....................................................... 729 281 1,192\nProceedsfrom loanreceivable .......................................................... 9 28 —\nReturnof investmentsin affiliates ....................................................... — — 1\nAdvancesto and investmentsin affiliates ................................................. (11) (5) (6)\nAcquisitions ........................................................................ (1,458) — (602)\nCapitalexpenditures:\nRenewalsand replacements ........................................................ (134) (156) (222)\nReturnon investment ............................................................. (293) (343) (336)\nProperty insuranceproceeds ........................................................... — — 31\nNet cashprovided by (used in) investingactivities .................................. (1,158) (195) 58\nFINANCING ACTIVITIES\nFinancingcosts ..................................................................... (8) (11) (17)\nIssuancesof debt .................................................................... 443 740 645\nDraws on creditfacility ............................................................... — 2,245 —\nRepaymentof creditfacility ........................................................... (800) (762) (56)\nRepurchase/redemptionof senior notes ................................................... (400) (450) (650)\nRedemptionof preferred equityunitsof Host L.P. .......................................... — (22) —\nDebt extinguishmentcosts ............................................................. (22) (35) (50)\nIssuanceof commonstock ............................................................. 138 — —\nCommonstockrepurchase ............................................................. — (147) (482)\nDividendson commonstock ........................................................... — (320) (623)\nDistributionsand paymentsto non-controllinginterests ...................................... — (3) (75)\nOther financingactivities .............................................................. (8) (4) (7)\nNet cashprovided by (used in) financingactivities.................................. (657) 1,231 (1,315)\nEffects of exchangeratechangeson cashheld ............................................. — (3) 1\nNET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED\nCASH ........................................................................... (1,523) 726 (6)\nCASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD ..... 2,476 1,750 1,756\nCASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD ............ $ 953 $2,476 $ 1,750\nSee Notes to Consolidated Financial Statements.\n92",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_company_type",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 7:\n\nAND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number: 001-14625 (Host Hotels & Resorts, Inc.)\n0-25087 (Host Hotels & Resorts, L.P.)\nHOST HOTELS & RESORTS, INC.\nHOST HOTELS & RESORTS, L.P.\n(Exact Name of Registrant as Specified in Its Charter)\nMaryland (Host Hotels & Resorts, Inc.)\nDelaware (Host Hotels & Resorts, L.P.)\n(State or Other Jurisdiction of Incorporation or Organization) 4747 Bethesda Avenue, Suite 1300 Bethesda, Maryland (Address of Principal Executive Offices) 53-0085950 (Host Hotels & Resorts, Inc.)\n52-2095412 (Host Hotels & Resorts, L.P.)\n(I.R.S. Employer Identification No.)\n20814\n(Zip Code)\n(240) 744-1000\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol\nName of Each Exchange on\nWhich Registered\nHostHotels&Resorts,Inc. CommonStock,$.01parvalue(714,150,096\nHST The Nasdaq StockMarketLLC\nsharesoutstandingasofFebruary18,2022)\nHostHotels&Resorts,L.P. None None None\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nHostHotels&Resorts,Inc.\nHostHotels&Resorts,L.P. Unitsoflimitedpartnershipinterest699,123,098 unitsoutstandingasofFebruary18,2022)\nIndicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.\nHostHotels&Resorts,Inc. Yes È No ‘\nHostHotels&Resorts,L.P. Yes ‘ No È\nIndicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheAct.\nHostHotels&Resorts,Inc. Yes ‘ No È\nHostHotels&Resorts,L.P. Yes ‘ No È\nIndicate by check mark whether the registrant:(1) has filedallreportsrequiredto be filedby Section13 or 15(d) of the SecuritiesExchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast90days.\nHostHotels&Resorts,Inc. Yes È No ‘\nHostHotels&Resorts,L.P. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_key_financials",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "1.6bn acquisitions, 750m dispositions, 427m renovations & ROI capex",
      "golden_context": "Page 3:\n\n2021 CAPITAL ALLOCATION HIGHLIGHTS\nWe disposed of six hotels in 2021, reducing\nBy investing during a time of low\nSunbelt markets, we acquired seven\nour ground lease exposure and future\noccupancy, we have minimized future\nhigh-quality properties and two golf\ncapital expenditure requirements.\nbusiness interruption. We believe our\ncourses in 2021.\nassets will be better positioned to capitalize\non pent-up demand compared to our\npeers as operations continue to ramp up.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_revenue",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "2890m",
      "golden_context": "Page 59:\n\nSummary of 2021 Operating Results\nThe following table reflects certain line items from our audited consolidated statements of operations and\nthe significant operating statistics for the two years ended December 31, 2021 (in millions, except per share and\nhotel statistics):\nHistorical Income Statement Data:\n2021 2020 Change\nTotal revenues ..................................................... $2,890 $1,620 78.4%\nNet loss .......................................................... (11) (741) 98.5%\nOperating loss ..................................................... (250) (953) 73.8%\nOperating loss margin under GAAP .................................... (8.7)% (58.8)% 5,010bps\nEBITDAre(1) ...................................................... $ 542 $ (233) N/M\nAdjusted EBITDAre(1) .............................................. $ 532 $ (168) N/M\nDiluted loss per share ................................................ $(0.02) $(1.04) 98.1%\nNAREITFFOper diluted share (1)\n...................................... 0.60 (0.31) N/M\nAdjusted FFOper diluted share (1)\n...................................... 0.61 (0.17) N/M\nAll Owned Hotel Data:\n2021 Owned Hotels (1)\n2021 2020 Change\nAll ownedhotel revenues (pro forma) (1)\n.................................... $2,933 $1,678 74.8%\nAll ownedhotel EBITDA(pro forma) (1) .................................... 636 (129) N/M\nAll ownedhotel EBITDAmargin (pro forma) (1)\n.............................. 21.7% (7.7)%N/M\nChangein all ownedhotel Total RevPAR ................................... 74.6%\nChangein all ownedhotel RevPAR ........................................ 87.6%\nEBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share and all owned hotel operating\nresults (including hotel revenues and hotel EBITDA and margins) are non-GAAP financial measures within the meaning of the rules of\nthe SEC. See “Non-GAAP Financial Measures” for more information on these measures, including why we believe these supplemental\nmeasures are useful, reconciliationsto the mostdirectlycomparableGAAP measure,and the limitationson the use of these supplemental\nmeasures.\nN/M=Notmeaningful.\n(1) Revenues\nTotal revenues increased $1,270 million, or 78.4%, compared to 2020, due to strong leisure demand at our\nresort hotels during the year and the limited return of business and group travel in the second half of the year. All\nowned hotel pro forma RevPAR increased 87.6%, compared to 2020, due to a 19.7 basis point increase in\noccupancy and a 6.8% increase in average room rate. All owned hotel pro forma Total RevPAR increased 74.6%\nfor the year as increases in occupancy led to improved food and beverage revenues (see “Statement of Operations\nResults and Trends”).\nFollowing unprecedented occupancy declines in 2020, RevPAR experienced sequential quarterly growth\nthroughout 2021, resulting in year over year RevPAR improvements in all of our markets and Total RevPAR\nimprovements in all but one market, compared to 2020. While the portfolio as a whole continues to lag 2019\noperations, all owned hotel Total RevPAR in our Miami market led the portfolio, with an increase of 9.3%,\ncompared to 2019, followed by our Jacksonville and Maui/Oahu markets with ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_revenue_growth",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "2890m, prior year 1620m",
      "golden_context": "Page 59:\n\nSummary of 2021 Operating Results\nThe following table reflects certain line items from our audited consolidated statements of operations and\nthe significant operating statistics for the two years ended December 31, 2021 (in millions, except per share and\nhotel statistics):\nHistorical Income Statement Data:\n2021 2020 Change\nTotal revenues ..................................................... $2,890 $1,620 78.4%\nNet loss .......................................................... (11) (741) 98.5%\nOperating loss ..................................................... (250) (953) 73.8%\nOperating loss margin under GAAP .................................... (8.7)% (58.8)% 5,010bps\nEBITDAre(1) ...................................................... $ 542 $ (233) N/M\nAdjusted EBITDAre(1) .............................................. $ 532 $ (168) N/M\nDiluted loss per share ................................................ $(0.02) $(1.04) 98.1%\nNAREITFFOper diluted share (1)\n...................................... 0.60 (0.31) N/M\nAdjusted FFOper diluted share (1)\n...................................... 0.61 (0.17) N/M\nAll Owned Hotel Data:\n2021 Owned Hotels (1)\n2021 2020 Change\nAll ownedhotel revenues (pro forma) (1)\n.................................... $2,933 $1,678 74.8%\nAll ownedhotel EBITDA(pro forma) (1) .................................... 636 (129) N/M\nAll ownedhotel EBITDAmargin (pro forma) (1)\n.............................. 21.7% (7.7)%N/M\nChangein all ownedhotel Total RevPAR ................................... 74.6%\nChangein all ownedhotel RevPAR ........................................ 87.6%\nEBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share and all owned hotel operating\nresults (including hotel revenues and hotel EBITDA and margins) are non-GAAP financial measures within the meaning of the rules of\nthe SEC. See “Non-GAAP Financial Measures” for more information on these measures, including why we believe these supplemental\nmeasures are useful, reconciliationsto the mostdirectlycomparableGAAP measure,and the limitationson the use of these supplemental\nmeasures.\nN/M=Notmeaningful.\n(1) Revenues\nTotal revenues increased $1,270 million, or 78.4%, compared to 2020, due to strong leisure demand at our\nresort hotels during the year and the limited return of business and group travel in the second half of the year. All\nowned hotel pro forma RevPAR increased 87.6%, compared to 2020, due to a 19.7 basis point increase in\noccupancy and a 6.8% increase in average room rate. All owned hotel pro forma Total RevPAR increased 74.6%\nfor the year as increases in occupancy led to improved food and beverage revenues (see “Statement of Operations\nResults and Trends”).\nFollowing unprecedented occupancy declines in 2020, RevPAR experienced sequential quarterly growth\nthroughout 2021, resulting in year over year RevPAR improvements in all of our markets and Total RevPAR\nimprovements in all but one market, compared to 2020. While the portfolio as a whole continues to lag 2019\noperations, all owned hotel Total RevPAR in our Miami market led the portfolio, with an increase of 9.3%,\ncompared to 2019, followed by our Jacksonville and Maui/Oahu markets with ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000193_segments",
      "report_id": "ID_000193",
      "company_name": "Host Hotels & Resorts",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 140:\n\ngraphic and Business Segment Information\nWe consider each one of our hotels to be an operating segment, as we allocate resources and assess\noperating performance based on individual hotels. All of our hotels meet the aggregation criteria for segment\nreporting and our other real estate investment activities (primarily our retail spaces and office buildings) are\nimmaterial. As such, we report one segment: hotel ownership. Our foreign operations consist of hotels in two\ncountries as of December 31, 2021. There were no intersegment sales during the periods presented. The\nfollowing table presents revenues and long-lived a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_cash_flow",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1416m, investing: -618m, financing: -874m",
      "golden_context": "Page 108:\n\nHOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31, 2022, 2021 and 2020\n(in millions)\nOPERATING ACTIVITIES\nNet income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amortization of finance costs, discounts and premiums, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stock compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on property insurance settlement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity in (earnings) losses of affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Change in due from/to managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Distributions from investments in affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Changes in other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Changes in other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by (used in) operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INVESTING ACTIVITIES\nProceeds from sales of assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from loan receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Advances to and investments in affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital expenditures:\nRenewals and replacements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Return on investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Property insurance proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FINANCING ACTIVITIES\nFinancing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Issuances of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Draws on credit facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repayment of credit facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repurchase/redemption of senior notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Redemption of preferred OP units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mortgage debt and other prepayments and scheduled maturities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Debt extinguishment costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Issuance of common OP units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repurchase of common OP units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Distributions on common OP units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Distributions and payments to non-controlling interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by (used in) financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Effects of exchange rate changes on cash held . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED\nCASH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD . . . . . . CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD . . . . . . . . . . . . . See Notes to Consolidated Financial Statements.\n98",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_company_type",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 7:\n\nD EXCHANGE COMMISSION\nWashington, D.C. 20549\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number: 001-14625 (Host Hotels & Resorts, Inc.)\n0-25087 (Host Hotels & Resorts, L.P.)\nHOST HOTELS & RESORTS, INC.\nHOST HOTELS & RESORTS, L.P.\n(Exact Name of Registrant as Specified in Its Charter)\nMaryland (Host Hotels & Resorts, Inc.) Delaware (Host Hotels & Resorts, L.P.)\n(State or Other Jurisdiction of Incorporation or Organization) 4747 Bethesda Avenue, Suite 1300 Bethesda, Maryland (Address of Principal Executive Offices) 53-0085950 (Host Hotels & Resorts, Inc.)\n52-2095412 (Host Hotels & Resorts, L.P.)\n(I.R.S. Employer Identification No.)\n20814\n(Zip Code)\n(240) 744-1000\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol\nName of Each Exchange on\nWhich Registered\nHost Hotels & Resorts, Inc. Common Stock, $.01 par value (713,479,055\nHST The Nasdaq Stock Market LLC\nshares outstanding as of February 17, 2023)\nHost Hotels & Resorts, L.P. None None None\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nHost Hotels & Resorts, Inc.\nHost Hotels & Resorts, L.P. Units of limited partnership interest 708,445,021 units outstanding as of February 17, 2023)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nHost Hotels & Resorts, Inc. Host Hotels & Resorts, L.P. Yes È No ‘\nYes ‘ No È\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nHost Hotels & Resorts, Inc. Yes ‘ No È\nHost Hotels & Resorts, L.P. Yes ‘ No È\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days.\nHost Hotels & Resorts, Inc. Yes È No ‘\nHost Hotels & Resorts, L.P. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nHost Hotels & Resorts, Inc. Yes È No ‘\nHost Hotels & Resorts, L.P. Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.:\nHost Hotels & Resorts, Inc.\nLarge accelerated filer È Non-accelerated filer ‘ Accelerated filer ‘\nSmaller reporting company ‘\nEmerging growth company ‘\nHost Hotels & Resorts, L.P.\nLarge accelerated filer ‘ Non-accelerated filer È Accelerated filer ‘\nSmaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or\nissued its audit report. È\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_key_financials",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "4907m revenues. net income 643, Operating: 1416m, investing: -618m, financing: -874m",
      "golden_context": "Page 6:\n\nhave otherwise required significant capital expenditure\ninvestment. Since 2017 we have dramatically improved\nthe quality of our portfolio, increasing the Total RevPAR of\nour assets by 15%, based on 2022 All Owned Hotel results.\nWe also reinstated and doubled our quarterly dividend\ntwo times over the course of 2022, bringing the total divi-\ndends declared for the year to $0.53 per common share,\nRETURNING $380 MILLION IN VALUE TO STOCKHOLDERS.\nAs part of our capital allocation efforts this year, we\nrepurchased 1.7 million shares at an average price of\n$15.93 per share through our common share repurchase\nprogram, bringing our total repurchases for the year to $27\nmillion. We have approximately $973 million of remaining\ncapacity under the repurchase program.\n2022 DIVIDENDS DECLARED PER SHARE\n$0.32\n$0.3\n$0.2\n$0.12\n$0.1\n$0.06\n$0.03\n$0.0\nQ1\n*Including $0.20 special dividend\nQ2\nQ3\nQ4\nJW MARRIOTT WASHINGTON, DC\n(Achieved LEED EBOM Gold certification in 2022)\nIn January 2023, WE AMENDED AND RESTATED OUR\nEXISTING $2.5 BILLION CREDIT FACILITY to further\nenhance the strength and flexibility of our balance\nsheet. The agreement reflects no increase in pricing and\nincorporates our industry-leading commitment to ESG\nby adding incentives linked to portfolio sustainability\ninitiatives, including green building certifications and\nrenewable energy consumption.\nOver the past year, elevated inflation, rising interest rates, and\nfears of a slowdown weighed on the global equity markets.\nDespite the macroeconomic uncertainty, Host Hotels &\nResorts, Inc. was the best performing lodging real estate\ninvestment trust (REIT) amongst other full-service lodging\nREITs in 2022 with a (4.6%) total stockholder return (TSR).\nAdditionally, the Company has outperformed its peers from\na cumulative TSR perspective on a 1-, 3- and 5-year basis, as\nmeasured by the TSR of the NAREIT Lodging & Resorts Index.\nTo conclude, we are very optimistic about the future of\ntravel. Leisure rates remain well above 2019 levels, and as\nof mid-February, total group revenue pace for 2023 is down\nonly slightly to the same-time in 2019 and business transient\ndemand continues to improve. We are extremely proud of the\nresults we achieved in 2022, and we are confident that the\nquality of our portfolio, our ability to reinvest in our assets,\nand our strong balance sheet leave us very well-positioned\nto create significant long-term value for our stockholders.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_revenue",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "total revenues 4907m",
      "golden_context": "Page 55:\n\nrating results for all consolidated hotels and, to facilitate comparisons between periods,\nwe are presenting results, referred to as “All Owned Hotel”, which include the following adjustments:\n(1) operating results are presented for all consolidated hotels owned as of December 31, 2022, but do not include\nthe results of operations for properties sold or held-for-sale as of the reporting date; and (2) operating results for\nacquisitions as of December 31, 2022 are reflected for full calendar years, to include results for periods prior to\nour ownership. For these hotels, since the year-over-year comparison includes periods prior to our ownership, the\nchanges will not necessarily correspond to changes in our actual results. In 2023, we plan to return to our prior\npresentation of comparable hotels—See “- Comparable Hotel Results Definition for Periods Starting on or After\nJanuary 1, 2023” for further discussion.\nSummary of 2022 Operating Results\nThe following table reflects certain line items from our audited consolidated statements of operations and\nthe significant operating statistics for the two years ended December 31, 2022 (in millions, except per share and\nhotel statistics):\nHistorical Income Statement Data:\n2022 2021 Change\nTotal revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating profit (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating profit (loss) margin under GAAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITDAre (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjusted EBITDAre (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted earnings (loss) per share NAREIT FFO per diluted share (1)\nAdjusted FFO per diluted share (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All Owned Hotel Data:\n$4,907 643 775 15.8% $1,504 $1,498 $ 0.88 1.79 1.79 $2,890 69.8%\n(11) N/M\n(250) N/M\n(8.7)% N/M\n$ 542 177.5%\n$ 532 181.6%\n$ (0.02) 0.60 0.61 N/M\n198.3%\n193.4%\n2022 Owned Hotels (1)\n2022 2021 Change\nAll Owned Hotel revenues (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All Owned Hotel EBITDA (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All Owned Hotel EBITDA margin (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All Owned Hotel Total RevPAR (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All Owned Hotel RevPAR (1)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,944 1,573 31.8% $320.39 196.33 $ 2,912 69.8%\n686 129.3%\n23.55% 825 bps\n$189.70 68.9%\n120.33 63.2%\nEBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share and All Owned Hotel operating\nresults (including hotel revenues and hotel EBITDA and margins) are non-GAAP financial measures within the meaning of the rules of\nthe SEC. See “Non-GAAP Financial Measures” for more information on these measures, including why we believe these supplemental\nmeasures are useful, reconciliations to the most directly comparable GAAP measure, and the limitations on the use of these supplemental\nmeasures. Additionally, All Owned Hotel results and statistics include adjustments for dispositions and acquisitions. See Hotel RevPAR\nOverview for results of the portfolio based",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_revenue_growth",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "total revenues increased 2017m (69.8%), prior year revenues were 2890m",
      "golden_context": "Page 56:\n\nRevenues\nTotal revenues increased $2,017 million, or 69.8%, compared to 2021, due to strong leisure demand at our\nresort hotels and the recovery of business transient and group travel during the year. All Owned Hotel RevPAR\nincreased 63.2%, compared to 2021, due to a 19.1 percentage point increase in occupancy and a 15.8% increase\nin average room rate. All Owned Hotel Total RevPAR increased 68.9% for the year as the increase in rooms\nrevenues were supplemented with growth in both food and beverage revenues and other revenues (see “Statement\nof Operations Results and Trends”).\nOperations at most of our hotels in Florida were affected by Hurricane Ian in September 2022. Due to\nevacuation mandates and loss of commercial power, we estimate that RevPAR was negatively impacted by\napproximately 60 basis points for the full year.\nAll Owned Hotel Total RevPAR for all markets exceeded 2021 levels, while Total RevPAR for the portfolio\nas a whole was 2.7% below the 2019 pre-pandemic levels. The decline was concentrated in the first quarter of\n2022, as the increase in COVID-19 infections in January due to the Omicron variant disrupted hotel operations in\nthe first part of the quarter. However, operations recovered as the Omicron wave subsided, and the second, third\nand fourth quarters all exceeded 2019 All Owned Hotel Total RevPAR and RevPAR. All Owned Hotel Total\nRevPAR in our Miami, Orlando, Jacksonville and Phoenix markets increased 33.8%, 22.5%,\n22.2% and 19.2%, respectively, compared to 2019, due to continued strength at our leisure properties during the\nyear, which has allowed our operators to drive average room rates in excess of 2019 levels. Our hotels in San\nFrancisco/San Jose and Washington, D.C., two of our larger markets by room count, experienced declines of\n34.2% and 20.0%, respectively, compared to 2019, as operations at these hotels continued to ramp up throughout\nthe year following the lifting of many of the COVID-19 restrictions previously in place in these markets.\nSimilarly, our Boston and Seattle markets continue to lag the portfolio, with declines of 32.9% and 24.6%,\nrespectively, compared to 2019.\nOperating Profit\nOperating trends overall continued to improve throughout the year. During the first half of the year, hotel-\nlevel operating costs increased at lower rates when compared to increases in revenues over the same period as\nhiring did not keep pace with the improvement in operations during the first half of the year. During the second\nhalf of the year, hotels were able to increase staffing to levels more in-line with expectations based on current\nhotel demand.\nAs a result, operating profit (loss) margins (calculated based on GAAP operating profit as a percentage of\nGAAP revenues) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000194_segments",
      "report_id": "ID_000194",
      "company_name": "Host Hotels & Resorts",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "One operating segment",
      "golden_context": "Page 138:\n\nT HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)\n16. Geographic and Business Segment Information\nWe consider each one of our hotels to be an operating segment, as we allocate resources and assess\noperating performance based on individual hotels. All of our hotels meet the aggregation criteria for segment\nreporting and our other real estate investment activities (primarily our retail spaces and office buildings) are\nimmaterial. As such, we report one segment: hotel ownership. Our foreign operations consist of hotels in two\ncountries as of December 31, 2022. There were no intersegment sales during the periods presented. The\nfollowing table presents revenues and long-lived assets for each of the geographical areas in which we operate (in\nmillions):\nUnited States . . . . . . . . . . . . . . . . . . . . . Brazil . . . . . . . . . . . . . . . . . . . . . . . . . . . Canada . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000195_cash_flow",
      "report_id": "ID_000195",
      "company_name": "Host Hotels & Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 1441m",
      "golden_context": "Page 73:\n\nsitions and dispositions. We anticipate that any such future\nacquisitions will be funded by cash, debt issuances by Host L.P., equity offerings of Host Inc., issuances of OP\nunits by Host L.P., or proceeds from sales of hotels. Given the nature of these transactions, we can make no\nassurances that we will be successful in acquiring any one or more hotels that we may review, bid on or\nnegotiate to purchase or that we will be successful in disposing of any one or more of our hotels. We may\nacquire additional hotels or dispose of hotels through various structures, including transactions involving single\nassets, portfolios, joint ventures, acquisitions of the securities or assets of other REITs or distributions of hotels\nto our stockholders.\nSources and Uses of Cash. In 2023, our primary sources of cash included cash from operations and\nproceeds from the repayment of notes receivable and asset sales. Our primary uses of cash during the year\nconsisted of capital expenditures, operating costs, share repurchases and distributions to equity holders. We\nanticipate that our sources and uses of cash will be similar in 2024, other than the proceeds from the two notes\nreceivable that were repaid in 2023.\nCash Provided by Operating Activities. Our net cash provided by operating activities for 2023 was\n$1,441 million, an increase of $25 million compared to 2022, reflecting the improved operations at our hotels\ncompared to 2022, along with remediation insurance proceeds which exceeded remediation costs incurred in\n2023.\nCash Used in Investing Activities. Approximately $183 million of cash was used in investing activities\nduring 2023 compared to $618 million in 2022. In addition to the acquisition and disposition activity detailed in\nthe charts below, cash used in investing activities included $646 million of capital expenditures in 2023,\ncompared to $504 million in 2022. These amounts include certain internal costs and interest expense associated\nwith our capital expenditures projects that have been capitalized in accordance with GAAP. These capitalized\ncosts were $24 million, $20 million and $13 million for 2023, 2022 and 2021, respectively.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000195_key_financials",
      "report_id": "ID_000195",
      "company_name": "Host Hotels & Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Net income 752m, growth of 17%, Adjusted EBITDAre of 1629m, 8.7% growth",
      "golden_context": "Page 3:\n\n2023\nOperational Highlights\n Comparable Hotel RevPAR Growth of 8.1%\nand Total RevPAR Growth of 8.3% over 2022\nNet Income of $752M, +17% and Adjusted\nEBITDAre of $1,629M, +8.7% over 20221\n2023\nCapital Allocation\n Returned $700M of capital to stockholders\nin the form of dividends and share repurchases\n Invested nearly $650M in capital expenditures\nat our properties\nCONSISTENCY\nIs Our Currency\n Accretive capital allocation from 2021 to\n2023, acquiring $1.9 billion and disposing\nof $1.5 billion\n Maintained investment grade balance sheet\n Continued reinvestment in portfolio through\nnew acquisitions and capital expenditures\nTRANSFORMATIONAL\nCapital Investment\n Completed 16 properties through Marriott\nTransformational Capital Program\n Completed comprehensive renovations at\n8 hotels and 4 development projects\n Announced agreement with Hyatt for\ntransformational renovations at 6 properties",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000195_revenue_growth",
      "report_id": "ID_000195",
      "company_name": "Host Hotels & Resorts",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Increased 404m (or 8.2%)",
      "golden_context": "page 59:\n\nRevenues\nTotal revenues increased $404 million, or 8.2%, compared to 2022, due to increased demand at our\nconvention and downtown properties, partially offset by some moderation at our resort properties. Comparable\nhotel RevPAR increased 8.1%, compared to 2022, due to a 4.1 percentage point increase in occupancy and a\n1.8% increase in average room rate. Comparable hotel Total RevPAR increased 8.3% for the year as the\nincrease in rooms revenues was supplemented with growth in both food and beverage revenues and other\nrevenues (see “Statement of Operations Results and Trends”).\nThe improvement during 2023 was buoyed by first quarter 2023 results, as the Omicron variant of\nCOVID-19 significantly impaired travel during January and the first part of February in 2022. In addition, the\nrecovery at our city-center properties throughout the year allowed for significant improvements in several\nmarkets, such as New York, Washington, D.C. and Boston. However, growth was muted during the year due to\nnegative impacts from the August wildfires in Maui, moderating rates at resorts in comparison to 2022, as well\nas elevated levels of international outbound travel throughout the year while international inbound travel\nrecovered at a slower pace. None of our hotels in Maui sustained physical damage from the August wildfires,\nand our hotels were still able to fill rooms with emergency response teams and displaced residents; however, we\nestimate that the wildfires negatively impacted our comparable hotel RevPAR and Total RevPAR by\napproximately 50 basis points and 70 basis points, respectively, for the full year.\nComparable hotel Total RevPAR growth was led by our Boston, Washington, D.C., New York, and\nHouston markets with growth of 42.5%, 21.5%, 19.2%, and 19.2%, respectively, compared to 2022, through a\ncombination of rate and occupancy growth, driven by strong group. Our hotels in Northern Virginia, Seattle,\nand San Francisco/San Jose also outperformed our portfolio with comparable hotel Total RevPAR increases of\n18.4%, 15.9%, and 15.4%, respectively. These strong performances were offset by comparable hotel Total\nRevPAR declines at our Austin and Miami markets of 4.0% and 1.8%, respectively. The declines in Austin\nwere driven primarily by decreases in rates due to weaker transient demand, while Miami was impacted by the\nongoing renovation at the 1 Hotel South Beach. Comparable hotel Total RevPAR at our Maui/Oahu market\ndecreased 5.1% due to the impacts from the Maui wildfires in August.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000196_cash_flow",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 94955k, investing -85672k, financing 43949k",
      "golden_context": "Page 41:\n\nDecember 31, 2020. Working capital increased from $1.10 billion at December 31, 2020, to $1.48 billion at December 31,\n2021.\nWe prioritize our investments to grow the business, as we require some working capital and a relatively small amount of capital\nexpenditures to grow. We are continually looking for acquisitions, but those acquisitions must fit our culture and enhance our\ngrowth opportunities.\nThe following table summarizes our major sources and uses of cash and cash equivalents (dollars in thousands):\nTwelve months ended December 31, 2021 2020 % change 2019 % change\nSources (uses) of cash:\nCash provided by operating activities . . . . . . . . . . . . . $ 94,955 $ 499,191 (81.0) % $ 835,419 (40.2) %\n(70,922) (14,750) (54,009) (223,230) — 5,525 (70,465)\n(59,200)\n16,636\n(85,672) (271,714) (68.5) % (113,029) 140.4 %\n(581,756) (277,321) 822,701 43,949 (177,514) (209,956) (143,000) 89,803 (309,444)\n(277,786)\n(112,000)\n47,977\n(3,239) 9,128 (1,894)\nCapital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other investing activities . . . . . . . . . . . . . . . . . . . . . . . Cash used for investing activities . . . . . . . . . . . . . . . . Repurchase of common stock . . . . . . . . . . . . . . . . . . . . Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net borrowings (repayments) on debt . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by (used for) financing activities . 7,573 (440,667) N/M (651,253) (32.3) %\nEffect of exchange rates on cash and cash equivalents . . Net change in cash and cash equivalents . . . . . . . . . . . . . $ 13,617 $ (204,062) $ 69,243\nCash flow from operating activities. The significant decrease in cash flow from operating activities in 2021 from 2020 was\ndue to unfavorable changes in working capital. These changes in working capital were primarily related to a sequential increase\nin accounts receivable and contract assets, partially offset by a related increase in accounts payable and accrued transportation\nexpense. Both increases were driven by a significant increase in pricing for most of our transportation services in addition to\nincreased volumes in nearly all services during 2021. The increase in accounts receivable was also impacted by a change in\nbusiness mix from the significant growth of our global forwarding business where our days sales outstanding ratio is\napproximately double that of our NAST business. Despite the increase in accounts receivable, we are not experiencing a\ndeterioration in the quality of our accounts receivable balance. Additionally, since the early stages of the COVID-19 pandemic,\nwe have been closely monitoring credit and collections activities to minimize risk as well as working with our customers to\nfacilitate the movement of goods across their supply chains while also ensuring timely payment.\nCash used for investing activities. Our investing activities consist primarily of capital expenditures and cash paid for\nacquisitions. Capital expenditures consisted primarily of investments in hardware and software, which are intended to increase\nemployee productivity, automate interactions with our customers and contracted carriers, and improve our internal workflows\nto help expand our adjusted operating margins and grow the business. During 2019, we sold a facility we owned in Chicago,\nIllinois, for approximately $17.0 million.\nIn 2021, we used $14.7 million for the acquisition of Combinex. In 2020, we used $222.7 million for the acquisition of Prime.\nIn 2019, we used $45.0 million for the acquisition of The Space Cargo Group and $14.2 million for the acquisition of Dema\nService S.p.A.\nWe anticipate capital expenditures in 2022 to be approximately $90 million to $100 million.\nCash used for financing activities. We had net borrowings on debt of $822.7 million in 2021 and net repayments of\n$143.0 million in 2020. The 2021 net borrowings were primarily to provide cash for operations, as our working capital needs\ncontinued to increase throughout the year as mentioned above. The 2020 net repayments were primarily to reduce the\noutstanding balance of the receivables securitization facility. This receivables securitization facility expired in December 2020\nand was not renewed; however, we entered into a new receivables securitization facility in November 2021. There was a\n$525 million outstanding balance on our senior unsecured revolving credit facility (the “Credit Agreement”) as of December\n31, 2021, compared to no outstanding balance as of December 31, 2020. As of December 31, 2021, we were in compliance with",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000196_company_type",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nC.H. ROBINSON WORLDWIDE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 41-1883630\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n14701 Charlson Road\nEden Prairie, Minnesota 55347\n(Address of principal executive offices, including zip code)\nRegistrant’s telephone number, including area code: 952-937-8500\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) CHRW Securities registered pursuant to Section 12(g) of the Act: None\nName of each exchange on which registered\nThe Nasdaq Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒ Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2021, was $12,367,912,086 (based upon the\nclosing price of $93.67 per common share on that date as quoted on The Nasdaq Global Select Market).\nAs of February 16, 2022, the number of shares outstanding of the registrant’s common stock, par value $0.10 per share, was 128,798,559.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant’s Proxy Statement relating to its 2022 Annual Meeting of Stockholders (the “Proxy Statement”) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000196_key_financials",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Total revenues 23.1bn, \nannual operating income 1.1bn, \ndiluted earnings per share 6.31",
      "golden_context": "Page 4:\n\nIn 2021, people around the world were impacted by\ndisruptions in the global supply chain, and our customers\nneeded us more than ever. A convergence of factors including\nlow inventory levels, a shortage of workers in key roles such as\ntruck drivers and warehouse workers, port congestion, material\nshortages, and the ongoing impacts of COVID-19 kept the\nfreight markets imbalanced throughout the year. More than any\ntime in the recent past, the focus on supply chain performance\nand resilience was top-of-mind for businesses around the\nglobe, and the rest of the world learned what we already knew:\nthe global supply chain and the people who make it work are\nvital to the world’s economy. I am proud of how C.H. Robinson\nhelped our customers navigate the unprecedented level of\nsupply chain disruption in 2021, allowing us to provide the\nsuperior level of service that global customers have come to\nexpect from us, while delivering record annual financial results.\n2021 Business Results\nShipping capacity was constrained across all modes\nthroughout the year. Despite these challenging market\nconditions, we increased our total transportation volume by\n8% to 20 million shipments and grew our total revenues by\n43% to $23.1 billion, reflecting the strength of our integrated,\nmultimodal service model. The persistent capacity constraints\nin 2021 led to continued increases in purchased transportation\ncosts in the industry. We reacted to rising costs by repricing our\nbusiness throughout the year to reflect the rapidly changing\nmarket environment, which drove an increase in our adjusted\ngross profit (AGP) per shipment in all modes. The combination\nof increased volumes and larger AGP per shipment resulted\nC.H. Robinson Annual Report 2021 01\nin an increase of 31% in 2021 AGP, to an annual record of\n$3.2 billion. We also managed our operations efficiently and\ndelivered record annual operating income of $1.1 billion and\ndiluted earnings per share of $6.31.\nIn our North American Surface Transportation (NAST) business,\nwe increased our truckload and less than truckload (LTL)\nshipment volume while balancing the realities of the short-\nterm market conditions with our long-term commitment\nto strong customer relationships. Throughout the year,\nwe remained focused on profitable market share growth,\nachieving an 18% increase in AGP and a 15% increase\nin operating income. We capitalized on our technology\ninvestments and transformation efforts and deployed more\nfrictionless digital processes for both customers and carriers as\nwe further scaled our marketplace. This enabled us to increase\nour shipments per person per day, a key productivity measure\nfor our NAST business. In our Global Forwarding business, we\nleveraged our global supply chain expertise and data and scale\nadvantages to provide creative solutions to help our customers\nsecure capacity in a very tight market. The resulting volume\ngrowth, combined with a balanced portfolio of contractual\nand spot business, enabled Global Forwarding to increase\nAGP by 71% and operating income by 191%. Our Robinson\nFresh®, Managed Services, and Europe Surface Transportation\nbusinesses continued to deliver value to customers, increasing\ntheir combined total revenues by 4% and AGP by 7% in 2021.\nThe performance of our business segments, along with the\ncoordinated efforts of our shared services teams, led to $1.2\nbillion of EBITDA in 2021. We returned nearly $886 million\nto shareholders through dividends and share repurchases.\nOur strategy has been to increase our dividends based on\nlong-term EBITDA growth. To this end, our Board of Directors\napproved a 7.8% increase to our regular quarterly cash\ndividend and increased our share repurchase authorization\nby an additional 20 million shares in December. Over the\nlong term, we remain committed to uninterrupted quarterly\ndividends without decline and an opportunistic share purchase\nprogram as important levers to enhance shareholder value.\nMoving the World Forward\nC.H. Robinson operates at the center of global trade. We\naccelerate commerce through the world’s most connected\nsupply chain platform. Our ability to facilitate global trade\nincreases overall global wealth, improves economies and\nstandards of living and connects people across the globe.\nWe enable companies to trade with the world. We use the\ncapabilities of our people, combined with power of our\nproducts and technology, to facilitate that trade, in the most\neconomically efficient way.\nC.H. Robinson Annual Report 2021\nOur success is driven by our ability to effectively leverage\nthe four pillars of our customer promise: the people that\nyou can rely on, our information advantage, our suite of\nglobal, integrated logistics services, and our industry-leading\ntechnology. We have a broad and diverse portfolio of\ncustomers that cover multiple industries, geographies, and\nservices, and we see this as an advantage to our model as well\nas an opportunity to drive growth and shareholder value.\nAs we turn the calendar to 2022, I am excited about our future.\nDemand for our services continues to grow, and shippers\nincreasingly want more global, end-to-end solutions for their\nsupply chains, as evidenced by over half of our 2021 total\nrevenues coming from customers to whom we provide both\nsurface transportation and global forwarding services. As an\norganization, we will build on the success of 2021 and will\ncontinue to invest in what is most critical to our future: key\ntalent and smart, customer-focused technology products. We\nexpect to launch several new products and features that will\nbenefit our customers and carriers as we continue to build out\nthe most powerful supply chain platform on the market.\nOne of the many takeaways from the disruption and\nunpredictability of the last several years is that agility and the\nability to adapt quickly to changing market conditions are\nessential. There is still uncertainty around what the marketplace\nand supply chain conditions will look like in 2022. But\nwhether 2022 continues to look like 2021 or market factors\nshift to a more balanced marketplace, we are confident in\nour competitive advantages and our ability to execute. Key\nto our success is our strategy of: investing in our talented,\nperformance-driven employees; bringing to life new ways to\nhelp customers leverage our data advantage; building great\ntechnology products and expanding our global suite of smart\nservices. These are the right actions to continue creating value\nfor our customers and our shareholders.\nThank you to the C.H. Robinson team for their hard work\nin 2021, to all the carriers that have kept the world’s supply\nchains moving, and to our customers for continuing to trust\nus as a partner in your businesses and your success. To our\nshareholders, we will continue to take a long-term focus on\nprofitable growth and strong shareholder returns. Thank you\nfor investing in our future.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000196_revenue",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Total revenues 23.1bn",
      "golden_context": "Page 4:\n\nIn 2021, people around the world were impacted by\ndisruptions in the global supply chain, and our customers\nneeded us more than ever. A convergence of factors including\nlow inventory levels, a shortage of workers in key roles such as\ntruck drivers and warehouse workers, port congestion, material\nshortages, and the ongoing impacts of COVID-19 kept the\nfreight markets imbalanced throughout the year. More than any\ntime in the recent past, the focus on supply chain performance\nand resilience was top-of-mind for businesses around the\nglobe, and the rest of the world learned what we already knew:\nthe global supply chain and the people who make it work are\nvital to the world’s economy. I am proud of how C.H. Robinson\nhelped our customers navigate the unprecedented level of\nsupply chain disruption in 2021, allowing us to provide the\nsuperior level of service that global customers have come to\nexpect from us, while delivering record annual financial results.\n2021 Business Results\nShipping capacity was constrained across all modes\nthroughout the year. Despite these challenging market\nconditions, we increased our total transportation volume by\n8% to 20 million shipments and grew our total revenues by\n43% to $23.1 billion, reflecting the strength of our integrated,\nmultimodal service model. The persistent capacity constraints\nin 2021 led to continued increases in purchased transportation\ncosts in the industry. We reacted to rising costs by repricing our\nbusiness throughout the year to reflect the rapidly changing\nmarket environment, which drove an increase in our adjusted\ngross profit (AGP) per shipment in all modes. The combination\nof increased volumes and larger AGP per shipment resulted\nC.H. Robinson Annual Report 2021 01\nin an increase of 31% in 2021 AGP, to an annual record of\n$3.2 billion. We also managed our operations efficiently and\ndelivered record annual operating income of $1.1 billion and\ndiluted earnings per share of $6.31.\nIn our North American Surface Transportation (NAST) business,\nwe increased our truckload and less than truckload (LTL)\nshipment volume while balancing the realities of the short-\nterm market conditions with our long-term commitment\nto strong customer relationships. Throughout the year,\nwe remained focused on profitable market share growth,\nachieving an 18% increase in AGP and a 15% increase\nin operating income. We capitalized on our technology\ninvestments and transformation efforts and deployed more\nfrictionless digital processes for both customers and carriers as\nwe further scaled our marketplace. This enabled us to increase\nour shipments per person per day, a key productivity measure\nfor our NAST business. In our Global Forwarding business, we\nleveraged our global supply chain expertise and data and scale\nadvantages to provide creative solutions to help our customers\nsecure capacity in a very tight market. The resulting volume\ngrowth, combined with a balanced portfolio of contractual\nand spot business, enabled Global Forwarding to increase\nAGP by 71% and operating income by 191%. Our Robinson\nFresh®, Managed Services, and Europe Surface Transportation\nbusinesses continued to deliver value to customers, increasing\ntheir combined total revenues by 4% and AGP by 7% in 2021.\nThe performance of our business segments, along with the\ncoordinated efforts of our shared services teams, led to $1.2\nbillion of EBITDA in 2021. We returned nearly $886 million\nto shareholders through dividends and share repurchases.\nOur strategy has been to increase our dividends based on\nlong-term EBITDA growth. To this end, our Board of Directors\napproved a 7.8% increase to our regular quarterly cash\ndividend and increased our share repurchase authorization\nby an additional 20 million shares in December. Over the\nlong term, we remain committed to uninterrupted quarterly\ndividends without decline and an opportunistic share purchase\nprogram as important levers to enhance shareholder value.\nMoving the World Forward\nC.H. Robinson operates at the center of global trade. We\naccelerate commerce through the world’s most connected\nsupply chain platform. Our ability to facilitate global trade\nincreases overall global wealth, improves economies and\nstandards of living and connects people across the globe.\nWe enable companies to trade with the world. We use the\ncapabilities of our people, combined with power of our\nproducts and technology, to facilitate that trade, in the most\neconomically efficient way.\nC.H. Robinson Annual Report 2021\nOur success is driven by our ability to effectively leverage\nthe four pillars of our customer promise: the people that\nyou can rely on, our information advantage, our suite of\nglobal, integrated logistics services, and our industry-leading\ntechnology. We have a broad and diverse portfolio of\ncustomers that cover multiple industries, geographies, and\nservices, and we see this as an advantage to our model as well\nas an opportunity to drive growth and shareholder value.\nAs we turn the calendar to 2022, I am excited about our future.\nDemand for our services continues to grow, and shippers\nincreasingly want more global, end-to-end solutions for their\nsupply chains, as evidenced by over half of our 2021 total\nrevenues coming from customers to whom we provide both\nsurface transportation and global forwarding services. As an\norganization, we will build on the success of 2021 and will\ncontinue to invest in what is most critical to our future: key\ntalent and smart, customer-focused technology products. We\nexpect to launch several new products and features that will\nbenefit our customers and carriers as we continue to build out\nthe most powerful supply chain platform on the market.\nOne of the many takeaways from the disruption and\nunpredictability of the last several years is that agility and the\nability to adapt quickly to changing market conditions are\nessential. There is still uncertainty around what the marketplace\nand supply chain conditions will look like in 2022. But\nwhether 2022 continues to look like 2021 or market factors\nshift to a more balanced marketplace, we are confident in\nour competitive advantages and our ability to execute. Key\nto our success is our strategy of: investing in our talented,\nperformance-driven employees; bringing to life new ways to\nhelp customers leverage our data advantage; building great\ntechnology products and expanding our global suite of smart\nservices. These are the right actions to continue creating value\nfor our customers and our shareholders.\nThank you to the C.H. Robinson team for their hard work\nin 2021, to all the carriers that have kept the world’s supply\nchains moving, and to our customers for continuing to trust\nus as a partner in your businesses and your success. To our\nshareholders, we will continue to take a long-term focus on\nprofitable growth and strong shareholder returns. Thank you\nfor investing in our future.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000196_revenue_growth",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenues 23.1bn, 43% growth",
      "golden_context": "Page 4:\n\nIn 2021, people around the world were impacted by\ndisruptions in the global supply chain, and our customers\nneeded us more than ever. A convergence of factors including\nlow inventory levels, a shortage of workers in key roles such as\ntruck drivers and warehouse workers, port congestion, material\nshortages, and the ongoing impacts of COVID-19 kept the\nfreight markets imbalanced throughout the year. More than any\ntime in the recent past, the focus on supply chain performance\nand resilience was top-of-mind for businesses around the\nglobe, and the rest of the world learned what we already knew:\nthe global supply chain and the people who make it work are\nvital to the world’s economy. I am proud of how C.H. Robinson\nhelped our customers navigate the unprecedented level of\nsupply chain disruption in 2021, allowing us to provide the\nsuperior level of service that global customers have come to\nexpect from us, while delivering record annual financial results.\n2021 Business Results\nShipping capacity was constrained across all modes\nthroughout the year. Despite these challenging market\nconditions, we increased our total transportation volume by\n8% to 20 million shipments and grew our total revenues by\n43% to $23.1 billion, reflecting the strength of our integrated,\nmultimodal service model. The persistent capacity constraints\nin 2021 led to continued increases in purchased transportation\ncosts in the industry. We reacted to rising costs by repricing our\nbusiness throughout the year to reflect the rapidly changing\nmarket environment, which drove an increase in our adjusted\ngross profit (AGP) per shipment in all modes. The combination\nof increased volumes and larger AGP per shipment resulted\nC.H. Robinson Annual Report 2021 01\nin an increase of 31% in 2021 AGP, to an annual record of\n$3.2 billion. We also managed our operations efficiently and\ndelivered record annual operating income of $1.1 billion and\ndiluted earnings per share of $6.31.\nIn our North American Surface Transportation (NAST) business,\nwe increased our truckload and less than truckload (LTL)\nshipment volume while balancing the realities of the short-\nterm market conditions with our long-term commitment\nto strong customer relationships. Throughout the year,\nwe remained focused on profitable market share growth,\nachieving an 18% increase in AGP and a 15% increase\nin operating income. We capitalized on our technology\ninvestments and transformation efforts and deployed more\nfrictionless digital processes for both customers and carriers as\nwe further scaled our marketplace. This enabled us to increase\nour shipments per person per day, a key productivity measure\nfor our NAST business. In our Global Forwarding business, we\nleveraged our global supply chain expertise and data and scale\nadvantages to provide creative solutions to help our customers\nsecure capacity in a very tight market. The resulting volume\ngrowth, combined with a balanced portfolio of contractual\nand spot business, enabled Global Forwarding to increase\nAGP by 71% and operating income by 191%. Our Robinson\nFresh®, Managed Services, and Europe Surface Transportation\nbusinesses continued to deliver value to customers, increasing\ntheir combined total revenues by 4% and AGP by 7% in 2021.\nThe performance of our business segments, along with the\ncoordinated efforts of our shared services teams, led to $1.2\nbillion of EBITDA in 2021. We returned nearly $886 million\nto shareholders through dividends and share repurchases.\nOur strategy has been to increase our dividends based on\nlong-term EBITDA growth. To this end, our Board of Directors\napproved a 7.8% increase to our regular quarterly cash\ndividend and increased our share repurchase authorization\nby an additional 20 million shares in December. Over the\nlong term, we remain committed to uninterrupted quarterly\ndividends without decline and an opportunistic share purchase\nprogram as important levers to enhance shareholder value.\nMoving the World Forward\nC.H. Robinson operates at the center of global trade. We\naccelerate commerce through the world’s most connected\nsupply chain platform. Our ability to facilitate global trade\nincreases overall global wealth, improves economies and\nstandards of living and connects people across the globe.\nWe enable companies to trade with the world. We use the\ncapabilities of our people, combined with power of our\nproducts and technology, to facilitate that trade, in the most\neconomically efficient way.\nC.H. Robinson Annual Report 2021\nOur success is driven by our ability to effectively leverage\nthe four pillars of our customer promise: the people that\nyou can rely on, our information advantage, our suite of\nglobal, integrated logistics services, and our industry-leading\ntechnology. We have a broad and diverse portfolio of\ncustomers that cover multiple industries, geographies, and\nservices, and we see this as an advantage to our model as well\nas an opportunity to drive growth and shareholder value.\nAs we turn the calendar to 2022, I am excited about our future.\nDemand for our services continues to grow, and shippers\nincreasingly want more global, end-to-end solutions for their\nsupply chains, as evidenced by over half of our 2021 total\nrevenues coming from customers to whom we provide both\nsurface transportation and global forwarding services. As an\norganization, we will build on the success of 2021 and will\ncontinue to invest in what is most critical to our future: key\ntalent and smart, customer-focused technology products. We\nexpect to launch several new products and features that will\nbenefit our customers and carriers as we continue to build out\nthe most powerful supply chain platform on the market.\nOne of the many takeaways from the disruption and\nunpredictability of the last several years is that agility and the\nability to adapt quickly to changing market conditions are\nessential. There is still uncertainty around what the marketplace\nand supply chain conditions will look like in 2022. But\nwhether 2022 continues to look like 2021 or market factors\nshift to a more balanced marketplace, we are confident in\nour competitive advantages and our ability to execute. Key\nto our success is our strategy of: investing in our talented,\nperformance-driven employees; bringing to life new ways to\nhelp customers leverage our data advantage; building great\ntechnology products and expanding our global suite of smart\nservices. These are the right actions to continue creating value\nfor our customers and our shareholders.\nThank you to the C.H. Robinson team for their hard work\nin 2021, to all the carriers that have kept the world’s supply\nchains moving, and to our customers for continuing to trust\nus as a partner in your businesses and your success. To our\nshareholders, we will continue to take a long-term focus on\nprofitable growth and strong shareholder returns. Thank you\nfor investing in our future.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000196_segments",
      "report_id": "ID_000196",
      "company_name": "CH Robinson",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "North American Surface Transportation (“NAST”) and Global\nForwarding",
      "golden_context": "Page 11:\n\n, restaurants, foodservice distributors, and produce wholesalers. In many cases, we also arrange the logistics and\ntransportation of the products we sell and provide related supply chain services, such as replenishment, category management,\nand managed procurement services. We have developed proprietary brands of produce and have exclusive licensing agreements\nto distribute fresh and value-added produce under recognized consumer brand names. The produce for these brands is sourced\nthrough a preferred grower network and packed to order through contract packing agreements. We have instituted quality\nassurance and monitoring procedures with each of these preferred growers.\nSegment information. We have two reportable segments: North American Surface Transportation (“NAST”) and Global\nForwarding with our remaining operating segments reported as All Other and Corporate. The All Other and Corporate segment\nincludes Robinson Fresh, Managed Services, Other Surface Transportation outside of North America, and other miscellaneous\nrevenues and unallocated corporate expenses. See additional disclosure in Note 9, Segment Reporting, to our consolidated\nfinancial statements.\nNAST provides transportation and logistics services across North America through a network of offices in the United States,\nCanada, and Mexico. The primary services provided by NAST are truckload and less than truckload (“LTL”) transportation\nbrokerage services.\nGlobal Forwarding provides transportation and logistics services through an international network of offices in North America,\nEurope, Asia, Oceania, and South America; and also contracts with independent agents worldwide. The primary services\nprovided by Global Forwarding include ocean freight services, air freight services, and customs brokerage.\nRobinson Fresh provides sourcing services that primarily include the buying, selling, and/or marketing of fresh fruits,\nvegetables, and other value-added perishable items. Robinson Fresh sources products from around the world.\nManaged Services is primarily comprised of our TMC division, which offers Managed TMS® (“Managed TMS”). Managed\nTMS combines the use of our global technology platform Navisphere® (“Navisphere”), logistics process expertise, and\nconsulting services in relation to the use of motor carriers and other transportation providers chosen by our customers.\nCustomers can access Navisphere, logistics experts, and supply chain engineers to manage their day-to-day operations and\noptimize supply chain pe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000197_cash_flow",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1650171, investing -64918, financing -1619546",
      "golden_context": "Page 41-42:\n\nsh equivalents held outside the U.S. totaled $204.7 million as of December 31, 2022, and $217.1 million as of\nDecember 31, 2021. Working capital decreased from $1.48 billion at December 31, 2021, to $266.4 million at December 31,\n2022.\nWe prioritize our investments to grow our market share and expand globally in key industries, trade lanes, and geographies, and\nto digitize our customer, carrier, and internal tools to support our organic growth. We are continually looking for acquisitions,\nbut those acquisitions must fit our culture and enhance our growth opportunities.\nThe following table summarizes our major sources and uses of cash and cash equivalents (dollars in thousands):\nTwelve months ended December 31, 2022 2021 % change 2020 % change\nSources (uses) of cash:\nCash provided by operating activities . . . . . . . . . . . . . . $ 1,650,171 $ 94,955 1,637.8 % $ 499,191 (81.0) %\nCapital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . (128,497) Acquisitions, net of cash acquired . . . . . . . . . . . . . . . . . Sale of property and equipment . . . . . . . . . . . . . . . . . . . 63,579 Cash used for investing activities . . . . . . . . . . . . . . . . . (64,918) Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . (1,459,900) Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (285,317) Net borrowings (repayments) on debt . . . . . . . . . . . . . . . 54,000 Other financing activities . . . . . . . . . . . . . . . . . . . . . . . . 71,671 Net cash (used for) provided by financing activities . . (1,619,546) 7,573 NM (440,667) NM\nEffect of exchange rates on cash and cash equivalents . . . (5,638) Net change in cash and cash equivalents . . . . . . . . . . . . . . $ (39,931) $ (70,922) — (14,750) (85,672) (581,756) (277,321) 822,701 43,949 (3,239) 13,617 (54,009)\n(223,230)\n— 5,525\n(24.2) % (271,714) (177,514)\n(209,956)\n(143,000)\n89,803\n9,128\n$ (204,062)\n(68.5) %\n32\nCash flow from operating activities. The significant increase in cash flow from operating activities in 2022 from 2021 was\ndue to a decrease in operating working capital. The improvement in 2022 from 2021 was primarily due to a $650 million\nsequential decrease in operating working capital, which represents accounts receivable and contract assets less total accounts\npayable and accrued transportation expense. The decrease in operating working capital was driven by the decline in the cost of\npurchased transportation and the related decline in freight rates near the end of 2022. Conversely, 2021 included a $200 million\nsequential increase in operating working capital as the cost of purchased transportation and freight rates were rising near the end\nof 2021. The increase in operating working capital near the end of 2021 was also impacted by a change in business mix from\nthe significant growth of our Global Forwarding business where our days sales outstanding ratio is approximately double that of\nour NAST business.\nCash used for investing activities. Our investing activities consist primarily of capital expenditures and cash paid for\nacquisitions. Capital expenditures consisted primarily of investments in software, which are intended to deliver scalable\nsolutions to improve our customer and carrier experience and increase our efficiency to help expand our adjusted operating\nmargins and grow the business.\nDuring 2022, we sold an office building in Kansas City, Missouri, for a sales price of $55.0 million and recognized a gain of\n$23.5 million on the sale in the twelve months ended December 31, 2022. We simultaneously entered into an agreement to\nlease the office building for 10 years.\nIn 2021, we used $14.7 million for the acquisition of Combinex. In 2020, we used $222.7 million for the acquisition of Prime.\nWe anticipate capital expenditures in 2023 to be approximately $90 million to $100 million.\nCash used for financing activities. We had net borrowings on debt in 2022 and 2021 and net repayments in 2020. Net\nborrowings in 2022 were primarily to fund share repurchases and working capital needs in the first half of 2022. The increase in\ncash used for share repurchases was due to an increase in the number of shares repurchased and a higher average price per share\nduring 2022.\nNet borrowings in 2021 were primarily to provide cash for operations, as our working capital needs increased throughout 2021\nas mentioned above.\nThe net repayments in 2020 were primarily to reduce the outstanding balance on the Receivables Securitization Facility.\nIn December 2021, the Board of Directors increased the number of shares authorized to be repurchased by 20,000,000 shares.\nAs of December 31, 2022, there were 7,409,198 shares remaining for future repurchases. The number of shares we repurchase,\nif any, during future periods will vary based on our cash position, potential alternative uses of our cash, and market conditions.\nOver the long term, we remain committed to our quarterly dividend and share repurchases to enhance shareholder value. Such\nrepurchases, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions, and other\nfactors. We may seek to retire or purchase our outstanding Senior Notes through open market cash purchases, privately\nnegotiated transactions, or otherwise.\nWe believe that, assuming no change in our current business plan, our available cash, together with expected future cash\ngenerated from operations, the amount available under our credit facilities, and credit available in the market, will be sufficient\nto satisfy our anticipated needs for working capital, capital expenditures, and cash dividends for at least the next 12 months and\nthe foreseeable future thereafter. We also believe we could obtain funds under lines of credit or other forms of indebtedness on\nshort notice, if needed.\nAs of December 31, 2022, we were in compliance with all of the covenants under our debt agreements.\nCRITICAL ACCOUNTING POLICIES AND ESTIMATES\nOur consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally\naccepted in the U.S. (“U.S. GAAP”). The preparation of the consolidated financial statements requires management to make\nestimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and the related disclosures.\nBecause future events and their effects cannot be determined with certainty, actual results could differ from our assumptions\nand estimates, and such differences could be material.\nOur significant accounting policies are discussed in Note 1, Summary of Significant Accounting Policies, of the Notes to the\nConsolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report\non Form 10-K. We consider the followin",
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    },
    {
      "unique_key": "ID_000197_company_type",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____ to _____\nCommission File Number: 000-23189\nC.H. ROBINSON WORLDWIDE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 41-1883630\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nTitle of each class Common Stock, par value $0.10 per share 14701 Charlson Road\nEden Prairie, Minnesota 55347\n(Address of principal executive offices, including zip code)\nRegistrant’s telephone number, including area code: 952-937-8500\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) CHRW Name of each exchange on which registered\nThe Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securiti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000197_key_financials",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "1.4bn EBITDA, 1.8bn returned to shareholders",
      "golden_context": "Page 4:\n\nThe changes in U.S. and global market conditions,\ncoupled with productivity improvements from scaling\nour operating model, are enabling us to reduce our\noverall cost structure by $150 million on an annualized\nbasis by the fourth quarter of 2023. The performance of\nour business segments in 2022, along with the efforts of\nour shared services teams, led to $1.4 billion of annual\nEBITDA, and we returned $1.8 billion to shareholders\nthrough dividends and share repurchases. Our balanced\ncapital allocation strategy is based on maintaining our\ninvestment grade credit rating, while minimizing risk,\ndriving growth, and returning capital to shareholders.\nTo this end, our Board of Directors approved a 10.9%\nincrease to our regular quarterly cash dividend, and\nwe remain committed to uninterrupted quarterly\ndividends without decline on a per share basis.\nNew Chapter of Transformation\nAs C.H. Robinson enters a new chapter of growth\nand transformation, we have a search underway to\nidentify a new Chief Executive Officer. While the Board\nconducts its search, I’ve agreed to serve as the interim\nCEO. As a former public company CEO, I’m excited\nto leverage my experience and the relationships I’ve\nbuilt with the leadership team to ensure we continue\ndelivering superior services and capabilities to our\ncustomers and carriers while continuing to execute,\nwith great focus, on our sustainable growth strategy.\nThroughout the transition, we’re increasing our focus\non delivering a scalable operating model to lower our\ncosts, improve the customer and carrier experience,\nand foster long-term profitable growth through cycles.\nOur success is founded on and driven by the four\npillars of our customer promise: the people you can\nrely on, our information advantage delivering smarter\nsolutions, our diversified, global suite of integrated\nservices, and our industry-leading technology. We\n5\nhave a broad and diverse portfolio of customers that\ncover multiple industries and geographies, and we\nsee this as an advantage to our model as well as an\nopportunity to drive growth and shareholder value.\nAs we turn the calendar to 2023, I am excited about\nour future. Demand for brokerage services continues\nto grow as supply chains become more complex, and\nC.H. Robinson is uniquely positioned in the marketplace\nto deliver for our shippers, carriers, and shareholders.\nThroughout the global supply chain challenges of the\npast few years, our people have been a key reason our\ncustomers chose to work with us. As an organization,\nwe will continue to strategically invest in our talent and\ncapabilities to strengthen our competitive advantage\nand amplify our expertise. As we pursue our next stage\nof growth and industry leadership, we’re well positioned\nto provide the premier service, technology, and data\ninsights our two-sided marketplace depends on.\nThank you to the C.H. Robinson team for their dedication\nand resilience in 2022, to all the carriers that have\nkept the world’s supply chains moving, and to our\ncustomers for continuing to trust us as a partner in\nyour businesses and your success. To our shareholders,\nthank you for investing in our future as we navigate\nthese exciting and dynamic times with a focus on\nprofitable growth and strong shareholder returns.\nScott P. Anderson\nInterim Chief Executive Officer",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000197_revenue",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "23516384k",
      "golden_context": "Page 36:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe following table summarizes our results of operations (dollars in thousands, except per share data):\nTwelve Months Ended December 31,\n2022 2021 % change 2020 % change\nRevenues:\nTransportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,516,384 Sourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,180,241 24,696,625 $ 22,046,574 1,055,564 23,102,138 6.7 % $ 15,147,562 11.8 % 1,059,544 6.9 % 16,207,106 45.5 %\n(0.4) %\n42.5 %\nCosts and expenses:\nPurchased transportation and related services . . . . . . . . $ 20,035,715 $ 18,994,574 Purchased products sourced for resale . . . . . . . . . . . . . . 1,067,733 955,475 Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,722,980 1,543,610 Other selling, general, and administrative expenses . . . 603,415 526,371 14.6 % 496,122 6.1 %\nTotal costs and expenses . . . . . . . . . . . . . . . . . . . . . . 23,429,843 22,020,030 Income from operations . . . . . . . . . . . . . . . . . . . . . . . . 1,266,782 1,082,108 Interest and other expense . . . . . . . . . . . . . . . . . . . . . . . . (100,017) (59,817) Income before provision for income taxes . . . . . . . . . . Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.5 % $ 12,834,608 11.7 % 960,241 11.6 % 1,242,867 6.4 % 15,533,838 17.1 % 673,268 67.2 % (44,937) 14.1 % 27.1 % 11.4 % $ 48.0 %\n(0.5) %\n24.2 %\n41.8 %\n60.7 %\n33.1 %\n62.7 %\n46.0 %\n66.7 %\nDiluted net income per share . . . . . . . . . . . . . . . . . . . . $ 6.31 17.3 % $ 69.6 %\n11.7 % 4.2 %\n1,166,765 226,241 1,022,291 178,046 628,331 121,910 940,524 7.40 $ 17,601 $ 844,245 15,761 506,421 3.72 15,119 Average employee headcount . . . . . . . . . . . . . . . . . . . . Adjusted gross profit margin percentage(1)\nTransportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total adjusted gross profit margin . . . . . . . . . . . . . . . . . . 14.8 % 9.5 % 14.5 % 13.8 % 9.5 % 13.6 % 100 bps - bps 90 bps 15.3 % 9.4 % 14.9 % (150 bps)\n10 bps\n(130 bps)\n________________________________\n(1) Adjusted gross profit margin is a non-GAAP financial measure explained above.\nThe following discussion and analysis of our Results of Operations and Liquidity and Capital Resources includes a comparison\nof the twelve months ended December 31, 2022, to the twelve months ended December 31, 2021. A similar discussion and\nanalysis that compares the twelve months ended December 31, 2021, to the twelve months ended December 31, 2020, can be\nfound in Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations,” of our 2021\nAnnual Report on Form 10-K filed with the SEC on February 23, 2022.\nA reconciliation of our reportable segments to our consolidated re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000197_revenue_growth",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "23516384k, prior year 22046574k",
      "golden_context": "Page 36:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe following table summarizes our results of operations (dollars in thousands, except per share data):\nTwelve Months Ended December 31,\n2022 2021 % change 2020 % change\nRevenues:\nTransportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,516,384 Sourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,180,241 24,696,625 $ 22,046,574 1,055,564 23,102,138 6.7 % $ 15,147,562 11.8 % 1,059,544 6.9 % 16,207,106 45.5 %\n(0.4) %\n42.5 %\nCosts and expenses:\nPurchased transportation and related services . . . . . . . . $ 20,035,715 $ 18,994,574 Purchased products sourced for resale . . . . . . . . . . . . . . 1,067,733 955,475 Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,722,980 1,543,610 Other selling, general, and administrative expenses . . . 603,415 526,371 14.6 % 496,122 6.1 %\nTotal costs and expenses . . . . . . . . . . . . . . . . . . . . . . 23,429,843 22,020,030 Income from operations . . . . . . . . . . . . . . . . . . . . . . . . 1,266,782 1,082,108 Interest and other expense . . . . . . . . . . . . . . . . . . . . . . . . (100,017) (59,817) Income before provision for income taxes . . . . . . . . . . Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.5 % $ 12,834,608 11.7 % 960,241 11.6 % 1,242,867 6.4 % 15,533,838 17.1 % 673,268 67.2 % (44,937) 14.1 % 27.1 % 11.4 % $ 48.0 %\n(0.5) %\n24.2 %\n41.8 %\n60.7 %\n33.1 %\n62.7 %\n46.0 %\n66.7 %\nDiluted net income per share . . . . . . . . . . . . . . . . . . . . $ 6.31 17.3 % $ 69.6 %\n11.7 % 4.2 %\n1,166,765 226,241 1,022,291 178,046 628,331 121,910 940,524 7.40 $ 17,601 $ 844,245 15,761 506,421 3.72 15,119 Average employee headcount . . . . . . . . . . . . . . . . . . . . Adjusted gross profit margin percentage(1)\nTransportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total adjusted gross profit margin . . . . . . . . . . . . . . . . . . 14.8 % 9.5 % 14.5 % 13.8 % 9.5 % 13.6 % 100 bps - bps 90 bps 15.3 % 9.4 % 14.9 % (150 bps)\n10 bps\n(130 bps)\n________________________________\n(1) Adjusted gross profit margin is a non-GAAP financial measure explained above.\nThe following discussion and analysis of our Results of Operations and Liquidity and Capital Resources includes a comparison\nof the twelve months ended December 31, 2022, to the twelve months ended December 31, 2021. A similar discussion and\nanalysis that compares the twelve months ended December 31, 2021, to the twelve months ended December 31, 2020, can be\nfound in Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations,” of our 2021\nAnnual Report on Form 10-K filed with the SEC on February 23, 2022.\nA reconciliation of our reportable segments to our consolidated re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000197_segments",
      "report_id": "ID_000197",
      "company_name": "CH Robinson",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "North American Surface Transportation (“NAST”) and Global\nForwarding",
      "golden_context": "Page 12:\n\nutors, and produce wholesalers. In many cases, we also arrange the logistics and\ntransportation of the products we sell and provide related supply chain services, such as replenishment, category management,\nand managed procurement services. We have developed proprietary brands of produce and have exclusive licensing agreements\nto distribute fresh and value-added produce under recognized consumer brand names. The produce for these brands is sourced\nthrough a preferred grower network and packed to order through contract packing agreements. We have instituted quality\nassurance and monitoring procedures with each of these preferred growers.\nSegment information. We have two reportable segments, North American Surface Transportation (“NAST”) and Global\nForwarding, with our remaining operating segments reported as All Other and Corporate. The All Other and Corporate segment\nincludes Robinson Fresh, Managed Services, Other Surface Transportation outside of North America, and other miscellaneous\nrevenues and unallocated corporate expenses. See additional disclosure in Note 9, Segment Reporting, to our consolidated\nfinancial statements.\nNAST provides transportation and logistics services across North America through a network of offices in the U.S., Canada,\nand Mexico. The primary services provided by NAST include truckload and less than truckload (“LTL”) transportation\nbrokerage services.\nGlobal Forwarding provides transportation and logistics services through an international network of offices in North America,\nEurope, Asia, Oceania, and South America and also contracts with independent agents worldwide. The primary services\nprovided by Global Forwarding include ocean freight services, air freight services, and customs brokerage.\nRobinson Fresh provides sourcing services that primarily include the buying, selling, and/or marketing of fresh fruits,\nvegetables, and other value-added perishable items. Robinson Fresh sources products from around the world.\nManaged Services is primarily comprised of our TMC division, which offers Managed TMS® (“Managed TMS”). Managed\nTMS combines the use of our global technology p",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_cash_flow",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 731946k, investing: -82787k, financing -717833k",
      "golden_context": "Page 44-45:\n\no grow our market share and expand globally in key industries, trade lanes, and geographies, and\nto digitize our customer, carrier, and internal tools to support our organic growth. We are continually looking for acquisitions,\nbut those acquisitions must fit our culture and enhance our growth opportunities.\nThe following table summarizes our major sources and uses of cash and cash equivalents (dollars in thousands):\nTwelve months ended December 31, 2023 2022 % change 2021 % change\nSources (uses) of cash:\nCash provided by operating activities . . . . . . . . . . . . . $ 731,946 $ 1,650,171 (55.6) % $ 94,955 1,637.8 %\n(84,111) 1,324 (128,497) (70,922)\n— — (14,750)\n63,579 —\n27.5 % (82,787) (64,918) (85,672) Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisitions, net of cash acquired . . . . . . . . . . . . . . . . Sale of property and equipment . . . . . . . . . . . . . . . . . . Cash used for investing activities . . . . . . . . . . . . . . . . (24.2) %\nRepurchase of common stock . . . . . . . . . . . . . . . . . . . . Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net (repayments) borrowings on debt . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . Net cash (used for) provided by financing activities . (717,833) (1,619,546) (55.7) % 7,573 N/M\nEffect of exchange rates on cash and cash equivalents . . Net change in cash and cash equivalents . . . . . . . . . . . . . $ (63,884) (291,569) (394,000) 31,620 (1,459,900) (285,317) 54,000 71,671 (581,756)\n(277,321)\n822,701\n43,949\n(3,284) (5,638) (3,239)\n(71,958) $ (39,931) $ 13,617\n35\nCash flow from operating activities. We generated significant cash flow from operating activities in 2022 driven by our\nstrong operating results. Our net income in 2023 was adversely impacted by the weak freight demand and excess carrier\ncapacity discussed in the market trends and business trends sections above. This impact significantly reduced our net income\nand cash flow from operating activities in 2023. Cash flow from operating activities in both 2023 and 2022 benefited from\nsequential declines in net operating working capital. The declines in net operating working capital were driven by the declining\ntransportation rates discussed in the market trends and business trends sections above. We continue to closely monitor credit\nand collections activities and the quality of our accounts receivable balance to minimize risk as well as work with our customers\nto facilitate the movement of goods across their supply chains while also ensuring timely payment.\nCash used for investing activities. Our investing activities consist primarily of capital expenditures and cash paid for\nacquisitions. Capital expenditures consisted primarily of investments in software, which are intended to deliver scalable\nsolutions by transforming our processes, accelerating the pace of development, prioritizing data integrity, improving our\ncustomer and carrier experience, and increasing our efficiency to help expand our adjusted operating margins and grow the\nbusiness.\nDuring 2022, we sold an office building in Kansas City, Missouri, for a sales price of $55.0 million and recognized a gain of\n$23.5 million on the sale in the twelve months ended December 31, 2022. We simultaneously entered into an agreement to\nlease the office building for 10 years.\nWe anticipate capital expenditures in 2024 to be approximately $85 million to $95 million.\nCash used for financing activities. We had net repayments on debt in 2023 and net borrowings on debt in 2022. Net\nrepayments in 2023 were primarily to repay the Senior Notes Series A, which matured in August 2023, and the 364-Day\nUnsecured Revolving Credit Facility, which matured in May 2023. Net borrowings in 2022 were primarily to fund share\nrepurchases and working capital needs in the first half of 2022.\nThe decrease in cash used for share repurchases was due to a significant decrease in the number of shares repurchased in 2023\ncompared to 2022 as minimal shares were repurchased in the second half of 2023.\nIn December 2022, the Board of Directors increased the number of shares authorized to be repurchased by 20,000,000 shares.\nAs of December 31, 2023, there were 6,763,445 shares remaining for future repurchases. The number of shares we repurchase,\nif any, during future periods will vary based on our cash position, other potential uses of our cash, and market conditions. Over\nthe long term, we remain committed to our quarterly dividend and share repurchases to enhance shareholder value. Such\nrepurchases, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions, and other\nfactors. We may seek to retire or purchase our outstanding Senior Notes through open market cash purchases, privately\nnegotiated transactions, or otherwise.\nWe believe that, assuming no change in our current business plan, our available cash, together with expected future cash\ngenerated from operations, the amount available under our credit facilities, and credit available in the market, will be sufficient\nto satisfy our anticipated needs for working capital, capital expenditures, and cash dividends for at least the next 12 months and\nthe foreseeable future thereafter. We also believe we could obtain funds under lines of credit or other forms of indebtedness on\nshort notice, if needed.\nAs of December 31, 2023, we were in compliance with all of the covenants under our debt agreements.\nCRITICAL ACCOUNTING ESTIMATES\nOur consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally\naccepted in the U.S. (“U.S. GAAP”). The preparation of the consolidated financial statements requires management to make\nestimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and the related disclosures.\nBecause future events and their effects cannot be determined with certainty, actual results could differ from our assumptions\nand estimates, and such differences could be material.\nOur significant accounting policies are discussed in Note 1, Summary of Significant Accounting Policies, of the Notes to the\nConsolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report\non Form 10-K. We consider the following item",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_company_type",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____ to _____\nCommission File Number: 000-23189\nC.H. ROBINSON WORLDWIDE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 41-1883630\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nTitle of each class Common Stock, par value $0.10 per share 14701 Charlson Road\nEden Prairie, Minnesota 55347\n(Address of principal executive offices, including zip code)\nRegistrant’s telephone number, including area code: 952-937-8500\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) CHRW Name of each exchange on which registered\nThe Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_key_financials",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "17596443 total revenues, adjusted gross profits 2604608, adjusted gross profit margin 14.8%, income from operations 514608",
      "golden_context": "Page 6:\n\nFinancial Highlights\n(dollars in thousands, except per share data)\nTotal Revenues\n$17,596,443\n$24,696,625 -28.7%\nAdjusted Gross Profits*\n$2,604,608\n$3,593,177 -27.5%\nIncome from Operations\n$514,607\n$1,266,782 -59.4%\nNet Income\n$325,129\n$940,524 -65.4%\nCash Returned to Shareholders\n$380,747\n117% of Net Income\nReturn on Average\nStockholders’ Investment\n23.5%\n2023 Net Income/Average\nStockholders’ Equity\n*\n_x0007_ Adjusted gross profits is calculated as gross profit excluding amortization\nof internally developed software utilized to directly serve our customers\nand contracted carriers. For additional information, see Item 7 of Part II,\nManagement’s Discussion and Analysis of Financial. Condition and Results\nof Operations in our Annual Report on Form 10-K.\n7 C.H. Robinson Annual Report 2023\nLegend\n2023\n2022\nAdjusted Gross\nProfit Margin\n14.8%\n14.5% +30 bp\nDiluted EPS\n$2.72\n$7.40 -63.2%\nDividends Per Share\n$2.44\n$2.26 +8.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_revenue",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "17596443 total revenues",
      "golden_context": "Page 6:\n\nFinancial Highlights\n(dollars in thousands, except per share data)\nTotal Revenues\n$17,596,443\n$24,696,625 -28.7%\nAdjusted Gross Profits*\n$2,604,608\n$3,593,177 -27.5%\nIncome from Operations\n$514,607\n$1,266,782 -59.4%\nNet Income\n$325,129\n$940,524 -65.4%\nCash Returned to Shareholders\n$380,747\n117% of Net Income\nReturn on Average\nStockholders’ Investment\n23.5%\n2023 Net Income/Average\nStockholders’ Equity\n*\n_x0007_ Adjusted gross profits is calculated as gross profit excluding amortization\nof internally developed software utilized to directly serve our customers\nand contracted carriers. For additional information, see Item 7 of Part II,\nManagement’s Discussion and Analysis of Financial. Condition and Results\nof Operations in our Annual Report on Form 10-K.\n7 C.H. Robinson Annual Report 2023\nLegend\n2023\n2022\nAdjusted Gross\nProfit Margin\n14.8%\n14.5% +30 bp\nDiluted EPS\n$2.72\n$7.40 -63.2%\nDividends Per Share\n$2.44\n$2.26 +8.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_revenue_growth",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "17596443 total revenues, 24696625 prior year (-28.7%)",
      "golden_context": "Page 6:\n\nFinancial Highlights\n(dollars in thousands, except per share data)\nTotal Revenues\n$17,596,443\n$24,696,625 -28.7%\nAdjusted Gross Profits*\n$2,604,608\n$3,593,177 -27.5%\nIncome from Operations\n$514,607\n$1,266,782 -59.4%\nNet Income\n$325,129\n$940,524 -65.4%\nCash Returned to Shareholders\n$380,747\n117% of Net Income\nReturn on Average\nStockholders’ Investment\n23.5%\n2023 Net Income/Average\nStockholders’ Equity\n*\n_x0007_ Adjusted gross profits is calculated as gross profit excluding amortization\nof internally developed software utilized to directly serve our customers\nand contracted carriers. For additional information, see Item 7 of Part II,\nManagement’s Discussion and Analysis of Financial. Condition and Results\nof Operations in our Annual Report on Form 10-K.\n7 C.H. Robinson Annual Report 2023\nLegend\n2023\n2022\nAdjusted Gross\nProfit Margin\n14.8%\n14.5% +30 bp\nDiluted EPS\n$2.72\n$7.40 -63.2%\nDividends Per Share\n$2.44\n$2.26 +8.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000198_segments",
      "report_id": "ID_000198",
      "company_name": "CH Robinson",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "North American Surface Transportation (“NAST”) and Global\nForwarding,",
      "golden_context": "Page 12:\n\nes us significant experience in handling produce and temperature-controlled commodities.\nWe supply fresh produce through a network of independent produce growers and suppliers. Our customers include grocery\nretailers, restaurants, foodservice distributors, and produce wholesalers. In many cases, we also arrange the logistics and\ntransportation of the products we sell and provide related supply chain services, such as replenishment, category management,\nand managed procurement services. We have developed proprietary brands of produce and have exclusive licensing agreements\nto distribute fresh and value-added produce under recognized consumer brand names. The produce for these brands is sourced\nthrough a preferred grower network and packed to order through contract packing agreements. We have instituted quality\nassurance and monitoring procedures with each of these preferred growers.\nSegment information. We have two reportable segments, North American Surface Transportation (“NAST”) and Global\nForwarding, with our remaining operating segments reported as All Other and Corporate. The All Other and Corporate segment\nincludes Robinson Fresh, Managed Services, Other Surface Transportation outside of North America, and other miscellaneous\nrevenues and unallocated corporate expenses. See additional disclosure in Note 9, Segment Reporting, to our consolidated\nfinancial statements.\nNAST provides transportation and logistics services across North America through a network of offices in the U.S., Canada,\nand Mexico. The primary services provided by NAST include truckload and less than truckload (“LTL”) transportation\nbrokerage services.\nGlobal Forwarding provides transportation and logistics services through an international network of offices in North America,\nEurope, Asia, Oceania, South America, and the Middle East and also contracts with independent agents worldwide. The\nprimary services provided by Global Forwarding include ocean freight services, air freight services, and customs brokerage.\nRobinson Fresh provides sourcing services that primarily include the buying, selling, and/or marketing of fresh fruits,\nvegetables, and other value-added pe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_cash_flow",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating activities 462'129k\ninvesting: -162250k, financing: -462232k ",
      "golden_context": "Page 34:\n\nAND CAPITAL RESOURCES\nThe Company’s cash and cash equivalents decreased to $50,992 at June 30, 2021 from $213,345 at June 30, 2020. Cash was lower\nat the end of fiscal 2021 compared to the end of fiscal 2020 primarily due to the increase in net cash used in financing activities,\nincluding an increase in the purchase of treasury stock of approximately $360,000 and the decrease in cash provided by operating\nactivities, including lower deconversion fees collected of approximately $22,000 or about 61% year over year. Decreases in cash\nwere partially offset by an increase in credit facility borrowings and a decrease in cash used in investing activities, including a 57%\ndecrease in capital expenditures and a decrease in cash used for acquisitions year over year.\nThe following table summarizes net cash from operating activities in the statement of cash flows:\nYear Ended\nJune 30,\n2021 2020\nNet income $ 311,469 $ 296,668\nNon-cash expenses 211,266 218,004\nChange in receivables (6,112) 10,540\nChange in deferred revenue 6,541 (4,871)\nChange in other assets and liabilities (61,035) (9,809)\nNet cash provided by operating activities $ 462,129 $ 510,532\nCash provided by operating activities for fiscal 2021 decreased 9% compared to fiscal 2020. Cash from operations is primarily used\nto repay debt, pay dividends and repurchase stock, and for capital expenditures.\nCash used in investing activities for fiscal 2021 totaled $162,250 and included: $128,343 for the ongoing enhancements and\ndevelopment of existing and new product and service offerings; capital expenditures on facilities and equipment of $22,988, mainly\nfor the purchase of computer equipment; $2,300 for asset acquisitions; $6,506 for the purchase and development of internal use\nsoftware; and $13,300 for purchase of investments. This was partially offset by $6,187 of proceeds from asset sales and $5,000 of\nproceeds from investment maturities.\nCash used in investing activities for fiscal 2020 totaled $197,906 and included: $117,262 for the ongoing enhancements and\ndevelopment of existing and new product and service offerings; capital expenditures on facilities and equipment of $53,538, mainly\nfor the purchase of computer equipment; $30,376, net of cash acquired, for the purchases of Geezeo; $6,710 for the purchase\nand development of internal use software; and $1,150 for the purchase of investments. These expenditures were partially offset by\n$11,130 of proceeds from the sale of assets.\nFinancing activities used cash of $462,232 for fiscal 2021 and included $431,529 for the purchase of treasury shares and $133,800\nfor dividends paid to stockholders. These expenditures were partially offset by $3,211 of net cash inflow related to stock-based\ncompensation and borrowings and repayments on our revolving credit facility which netted to a borrowing of $100,000.\nFinancing activities used cash in fiscal 2020 of $192,909 and ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_company_type",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 16:\n\nBUSINESS\nJack Henry & Associates, Inc. (“JKHY”) was founded in 1976 as a provider of core information processing solutions for banks. Today,\nthe Company’s extensive array of products and services includes processing transactions, automating business processes, and\nmanaging information for nearly 8,400 financial institutions and diverse corporate entities.\nJKHY provides its products and services through three primary business brands:\n•\nJack Henry Banking is a leading provider of integrated data processing systems to nearly 1,000 banks ranging from de novo to\nmulti-billion-dollar institutions with assets of up to $50 billion. The number of banks we serve has decreased in the last year due\nto acquisitions and mergers within the banking industry, which are discussed further under the heading “Industry Background”\nbelow. Our banking solutions support both on-premise and private cloud operating environments with three functionally distinct\ncore processing platforms and more than 140 integrated complementary solutions.\n•\nSymitar is a leading provider of core data processing solutions for credit unions of all sizes, with over 700 credit union customers.\nSymitar markets one flagship core processing platform and more than 100 integrated complementary solutions that support both\non-premise and private cloud operating environments.\n•\nProfitStars is a leading provider of highly specialized core agnostic products and services for financial institutions. ProfitStars’\nmore than 100 integrated complementary solutions offer highly specialized financial performance, imaging and payments\nprocessing, information security",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_key_financials",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "1'758m revenue, \nnet income 311m, \ndiluted EPS 4.12, \nROIC 21%, \nEBITDA 575m",
      "golden_context": "Page 4: \n\nF I N A N C I A L H I G H L I G H T S\n( I N M I L L I O N S E X C E P T P E R R E V E N U E\nS H A R E D AT A )\nN E T I N C O M E\n2019\n2020\n2021\n$1,553\n$1,697\n$1,758\n$1,300 $1,500 $1,700 $1,900\n2019\n2020\n2021\nD I L U T E D E A R N I N G S P E R S H A R E\n$3.52\n$3.86\n$4.12\n2019\n2020\n2021\n2019\n2020\n2021\n$272\n$297\n$311\n$0 $100 $200 $300 $400\nR E T U R N O N I N V E S T E D C A P I T A L*\n19.8%\n19.9%\n21.0%\n$0 $1 $2 $3 $4 $5\nE A R N I N G S B E F O R E D E P R E C I AT I O N , A N D ( E B I T D A )*\nI N T E R E S T, TA X E S ,\nA M O R T I Z AT I O N\n2019\n$509\n2020\n$554\n2021\n$575\n$0 $400 $200 $300 $400 $500 $600\n*For non-GAAP reconciliation, see page 65.\n2\n20%\n0% 5% 10% 15% 25%\nD I V I D E N D S D E C L A R E D P E R S H A R E\n2019\n2020\n2021\n$1.54\n$1.66\n$1.78\n$0 $0.40 $0.80 $1.20 $2.00\n$1.60\n2 0 2 1 | A N N U A L R E P O R T",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_revenue",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1'758'225k revenue",
      "golden_context": "Page 44:\n\nACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(In Thousands, Except Per Share Data)\nYear Ended\nJune 30,\n2021 2020 2019\nREVENUE $ 1,758,225 $ 1,697,067 $ 1,552,691\nEXPENSES\nCost of Revenue 1,063,399 1,008,464 923,030\nResearch and Development 109,047 109,988 96,378\nSelling, General, and Administrative 187,060 197,988 185,998\nTotal Expenses 1,359,506 1,316,440 1,205,406\nOPERATING INCOME 398,719 380,627 347,285\nINTEREST INCOME (EXPENSE)\nInterest Income 150 1,137 876\nInterest Expense (1,144) (688) (926)\nTotal Interest Income (Expense) (994) 449 (50)\nINCOME BEFORE INCOME TAXES 397,725 381,076 347,235\nPROVISION/ (BENEFIT) FOR INCOME TAXES 86,256 84,408 75,350\nNET INCOME $ 311,469 $ 296,668 $ 271,885\nBasic earnings per share $ 4.12 $ 3.86 $ 3.52\nBasic weighted average shares outstanding 75,546 76,787 77,160\nDiluted earnings per share $ 4.12 $ 3.86 $ 3.52\nDiluted weighted average shares outstanding 75,658 76,934 77,347",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_revenue_growth",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "4% increase",
      "golden_context": "Page 30:\n\nges and restrictions caused by COVID-19, the overall financial and operational impact on our business has been\nlimited and our liquidity, balance sheet, and business trends remain strong. We experienced positive operating cash flows during\nfiscal 2021, and we do not expect that to change in the near term. However, we are unable to accurately predict the future impact\nof COVID-19 due to a number of uncertainties, including further government actions; the duration, severity and recurrence of the\noutbreak, including the onset of variants of the virus; the speed and effectiveness of vaccine and treatment developments; the speed\nof economic recovery; the potential impact to our customers, vendors, and employees; and how the potential impact might affect\nfuture customer services, processing and installation-related revenue, and processes and efficiencies within the Company directly or\nindirectly impacting financial results. We will continue to monitor COVID-19 and its possible impact on the Company and to take steps\nnecessary to protect the health and safety of our employees and customers. For a further discussion of the uncertainties and risks\nassociated with COVID-19, see Part II, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended June 30, 2021.\nA detailed discussion of the major components of the results of operations follows.\nRESULTS OF OPERATIONS\nFISCAL 2021 COMPARED TO FISCAL 2020\nIn fiscal 2021, total revenue increased 4% or $61,158, compared to fiscal 2020. Reducing total revenue for the effects of deconversion\nfees of $20,635 for the current fiscal year and $53,914 for the prior fiscal year, and for revenue from acquisitions and divestitures in\nfiscal 2021 of $9 and in fiscal 2020 of $3,574, results in a 6% increase, or $98,002. This increase was primarily driven by growth in\ncard processing, data processing and hosting fee, Jack Henry digital and remittance fee, and software usage fee revenues, partially\noffset by lower hardware revenues and decreased pass-through billable travel and user group expenses year over year due to\nCOVID-19 travel limitations (see “COVID-19 Impact and Response” above).\nOperating expenses increased 3% in fiscal 2021 compared to fiscal 2020, primarily due to higher costs related to our card payment\nprocessing platform associated with corresponding increases in revenue, higher personnel costs, and increased operating licenses\nand fees, partially offset by more capitalized costs related to research and development, travel expense savings as a result of\nCOVID-19 travel limitations (see “COVID-19 Impact and Response” above), the gain on sale of assets this fiscal year compared to\nthe loss last fiscal year, and lower hardware costs associated with a corresponding decrease in revenues.\nWe move into fiscal 2022 following strong performance in fiscal 2021. Significant portions of our business continue to provide\nrecurring revenue and our sales pipeline is also encouraging. Our customers continue to face regulatory and operational challenges\nwhich our products and services address, and in these times, they have an even greater need for our solutions that directly address\ninstitutional profitability, efficiency, and security. We believe our strong balance sheet, access to extensive lines of credit, the strength\nof our existing product line and an unwavering commitment to superior customer service position us well to address current and\nfuture opportunities.\nA detailed discussion of the major component",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000199_segments",
      "report_id": "ID_000199",
      "company_name": "Jack Henry",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Core, Payments, Complementary, and Corporate and Others.",
      "golden_context": "Page 30+31\n\nREPORTABLE SEGMENT DISCUSSION\nThe Company is a leading provider of technology solutions and payment processing services primarily for financial services\norganizations.\nThe Company’s operations are classified into four reportable segments: Core, Payments, Complementary, and Corporate and Other.\nThe Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications\n30\n2 0 2 1 | A N N U A L R E P O R T\nF I N A N C I A L S\nrequired to process deposit, loan, and general ledger transactions, and maintain centralized customer/member information. The\nPayments segment provides secure payment processing tools and services, including ATM, debit, and credit card processing services;\nonline and mobile bill pay solutions; ACH origination and remote deposit capture processing; and risk management products and\nservices. The Complementary segment provides additional software, hosted processing platforms, and services, including call center\nsupport, and network security management, consulting, and monitoring, that can be integrated with our core solutions and many\ncan be used independently. The Corporate and Other segment includes revenue and costs from hardware and other products not\nattributed to any of the other three segments, as well as operating costs not directly attributable to the other three segments.\nDuring the second quarter of fiscal 2021, Jack Henry’s call center was consolidated into the Complementary segment. As a result of\nthis consolidation, immaterial adjustments were made during fiscal 2021 to reclassify related revenue and costs recognized during\nthe fiscal years ended June 30, 2020 and 2019 from the Core to the Complementary segment. The total related revenue reclassified\nwas $20,797 for fiscal 2020 and $13,515 for fiscal 2019. The total related cost of revenue reclassified was $12,386 for fiscal 2020\nand $8,513 for fiscal 2019.\nCore\nRevenue $ 564,096\n2021 % Change 2020\n—\n% $ 561,369\nCost of Revenue $ 247,285 3 % $ 240,492\nIn fiscal 2021, revenue in the Core segment remained consistent compared to fiscal 2020. Reducing total Core revenue by the\neffects of deconversion fees from both years, which totaled $7,458 in fiscal 2021 and $25,536 in fiscal 2020, and for revenue from\nacquisitions and divestitures in fiscal 2020 of $3,574, Core segment revenue increased 5%. This increase was primarily driven\nby organic increases in our private and public cloud revenue. Cost of revenue in the Core segment increased 3% for fiscal 2021\ncompared to fiscal 2020 primarily due to increased costs associated with the organic growth in cloud revenue. Cost of revenue\nincreased 1% as a percentage of revenue for fiscal 2021 compared to fiscal 2020.\nPayments\nRevenue 2021 % Change 2020\n$ 642,308 7 % $ 597,693\nCost of Revenue $ 353,581 11 % $ 319,739\nIn fiscal 2021, revenue in the Payments segment increased 7% compared to fiscal 2020. Reducing total Payments revenue by the\neffects of deconversion fees from both years, which totaled $6,285 in fiscal 2021 and $15,411 in fiscal 2020, Payments segment\nrevenue increased 9%. This increase was primarily driven by organic growth within card processing and remittance fee revenues.\nCost of revenue in the Payments segment increased 11% for fiscal 2021 compared to fiscal 2020 primarily due to increased costs\nassociated with our card processing platform and other costs related to the organic growth in card processing and remittance fees.\nCost of revenue increased 1.5% as a percentage of revenue for fiscal 2021 compared to fiscal 2020.\nComplementary\nRevenue 2021 % Change 2020\n$ 505,928 4 % $ 484,146\nCost of Revenue $ 212,627 4 % $ 203,963\nRevenue in the Complementary segment increased 4% for fiscal 2021 compared to fiscal 2020. Reducing total Complementary\nrevenue by the effects of deconversion fees from both years, which totaled $6,778 in fiscal 2021 and $12,536 in fiscal 2020, and for\nrevenue from acquisitions and divestitures of $9 from fiscal 2021, Complementary segment revenue increased 6%. This increase was\ndriven by organic increases in our private and public cloud revenue, Jack Henry digital, and on-premise support revenues. Cost of\nrevenue in the Complementary segment increased 4% for fiscal 2021 compared to fiscal 2020, primarily due to increased personnel\ncosts and amortization expense mainly related to capitalized software. Cost of revenue remained consistent as a percentage of\nrevenue for fiscal 2021 compared to fiscal 2020.\nCorporate and Other\nRevenue 2021 % Change 2020\n$ 45,893 (15) % $ 53,859\nCost of Revenue $ 249,906 2 % $ 244,270\nJ A C K H E N R Y. C O M 31\nF I N A N C I A L S\nRevenue in the Corporate and Other segment decreased 15% for fiscal 2021 compared to fiscal 2020. The decrease was mainly due\nto decreased hardware revenue and lower pass-through user group revenue due to COVID-19 limitations (see “COVID-19 Impact\nand Response” above).\nCost of revenue for the Corporate and Other segment includes operating costs not directly attributable to any of the other three\nsegments and increased 2% for fiscal 2021 compared to fiscal 2020. The increased cost of revenue was primarily related to increased\nlicenses and fees and personnel costs, partially offset by lower hardware costs associated with the decrease in hardware revenue.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_cash_flow",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 504631k",
      "golden_context": "Page 40:\n\nAPITAL RESOURCES\nThe Company’s cash and cash equivalents decreased to $48,787 at June 30, 2022 from $50,992 at June 30, 2021. The following\ntable summarizes net cash from operating activities in the statement of cash flows:\nYear Ended\nJune 30,\n2022 2021\nNet income $ 362,916 $ 311,469\nNon-cash expenses 234,676 211,266\nChange in receivables (41,508) (6,112)\nChange in deferred revenue 6,572 6,541\nChange in other assets and liabilities (58,025) (61,035)\nNet cash provided by operating activities $ 504,631 $ 462,129\nCash provided by operating activities for fiscal 2022 increased 9% compared to fiscal 2021. Cash from operations is primarily\nused to repay debt, pay dividends and repurchase stock, and for capital expenditures.\nCash used in investing activities for fiscal 2022 totaled $196,344 and included: $148,239 for the ongoing enhancements and\ndevelopment of existing and new product and service offerings; capital expenditures on facilities and equipment of $34,659,\nmainly for the purchase of computer equipment; $8,491 for the purchase and development of internal use software; and $5,000\nfor purchase of investments. These expenditures were partially offset by $45 of proceeds from asset sales.\nCash used in investing activities for fiscal 2021 totaled $162,250 and included: $128,343 for the ongoing enhancements and\ndevelopment of existing and new product and service offerings; capital expenditures on facilities and equipment of $22,988, mainly\nfor the purchase of computer equipme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_company_type",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 21:\n\nBUSINESS\nJack Henry & Associates, Inc. (“JKHY”) is a well-rounded financial technology company. JKHY was founded in 1976 as a\nprovider of core information processing solutions for banks. Today, the Company’s extensive array of products and services\nincludes processing transactions, automating business processes, and managing information for over 7,800 financial institutions\nand diverse corporate entities.\nJKHY provides its products and services primarily to financial institutions:\n•\nCore bank integrated data processing systems are provided to over 950 banks ranging from de novo to multi-billion-dollar\ninstitutions with assets of up to $50 billion. The number of banks we serve has decreased in the last year due to acquisitions\nand mergers within the banking industry, which are discussed further under the heading “Industry Background” in this Item\n1. Our banking solutions support both on-premise and private cloud operating environments with three functionally distinct\ncore processing platforms and more than 140 integrated complementary solutions.\n•\nCore credit union data processing solutions are provided to credit unions of all sizes, with a growing client base of nearly\n720 credit union customers. There is one flagship core processing platform and more than 100 integrated complementary\nsolutions that support both on-premise and private cloud operating environments.\n•\nNon-core highly specialized core-agnostic products and services are also provided to financial institutions. There are more\nthan 100 complementary solutions that offer highly specialized financial performance, imaging and payments processing,\ninformation security and risk management, retail delivery, and online and mobile solutions. These products and services\nenhance the performance of traditional financial services organizations of all asset sizes and charters, and non-traditional\ndiverse corporate entities with over 7,800 customers, comprised of nearly 1,650 of our core customers included in our bank\nand credit union customers listed above, as well as over 6,150 other non-core customers.\nOur products and services provide our customers with solutions that can be tailored to support their unique growth, service,\noperational, and performance goals. Our well-rounded solutions also enable financial institutions to offer the high-demand\nproducts and services required by their customers to compete more successfully, and to capitalize on evolving trends shaping\nthe financial services industry.\nWe are committed to exceeding our customers’ service-related expectations. We measure and monitor customer satisfaction\nusing annual surveys and randomly-generated online surveys initiated each day by routine support requests. We believe the\nresults of this extensive survey process confirm that our service consistently exceeds our customers’ expectations and generates\nexcellent customer retention rates.\nWe also focus on establishing long-term customer relationships, continually expanding and strengthening those relationships\nwith cross sales of additional products and services, earning new financial and non-financial clients, and ensuring our product\nofferings are highly competitive.\nThe majority of our revenue is derived from support and services provided by our private cloud services for our hosted customers\nthat are typically on a seven-year or greater contract, recurring electronic payment solutions that are also generally on a contract\nterm of seven years or greater, and to our on-premise customers that are typically on a one-year contract. Less predictable\nsoftware license fees, paid by customers implementing our software solutions on-premise, and hardware sales, including all\nnon-software products that we re-market in order to support our software systems, complement our primary revenue sources.\nInformation regarding the classification of our business into four separate segments is set forth in Note 14 to the consolidated\nfinancial statements (see Item 8).\nJKHY’s progress and performance have been guided by the focused work ethic and fundamental ideals fostered by the\nCompany’s founders 46 years ago:\n•\nDo the right thin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_key_financials",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue 1943m, net income 363m, diluted EPS 4.94, ROIC 24.9%, EBITDA 652m, dividents declared per share 1.9",
      "golden_context": "Page 4:\n\nFINANCIAL HIGHLIGHTS\n$ IN MILLIONS EXCEPT PER SHARE DATA\nN E T I N C O M E\nD I L U T E D E A R N I N G S\nPER SHARE\n$2,100\n$500\n$6\n$4.94\n$5\n$400\n$1,943\n$363\n$1,900\n$3.86 $4.12\n$297 $311\n$4\n$300\n$3\n$1,758\n$200\n$1,697\n$1,700\n$2\n$100\n$1\n$1,500\n$0\n$0\n2020 2020 2020\n2021 2021 2021\n2022 2022 2022\nR E T U R N O N\nS H A R E H O L D E R S ’ E Q U I T Y\n35%\nR E T U R N I N V E S T E D O N\nC A P I TA L *\nE B I T D A *\n(EARNINGS BEFORE INTEREST, TAXES,\nDEPRECIATION, AND AMORTIZATION)\n35%\n$800\n30%\n30%\n$700\n26.9%\n$652\n25% 24.9%\n25%\n$554 $575\n$600\n21.7%\n21.0%\n19.9%\n19.9%\n20%\n20%\n$500\n15%\n15%\n$400\n$300\n10%\n10%\n$200\n5%\n5%\n0%\n0%\n$100\n2020\n2021\n2022\n2020\n2021\n2022\nD I V I D E N D S D E C L A R E D\nPER SHARE\n2020 2021\n2022\n$2.40\n$1.90\n$2.00\n$1.66 $1.78\n$1.60\n$1.20\n$0.80\n$0.40\n2020 2021\n2022\n*For non-GAAP reconciliation, see page 75.\n4 / FINANCIAL HIGHLIGHTS\njackhenry.com",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_revenue",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "1'942'884k",
      "golden_context": "Page 73:\n\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 63,445 $ 410,930 $ 44,638 $ 1,048,206\nProcessing 34,903 578,863 94,998 1,255 710,019\nTotal Revenue 564,096 642,308 505,928 45,893 1,758,225\nCost of Revenue 247,150 353,581 212,627 250,041 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 288,727 $ 293,301 $ (204,148)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE\nINCOME TAXES $ 397,725\nYear Ended\nJune 30, 2020\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,997 $ 66,920 $ 401,639 $ 52,895 $ 1,051,451\nProcessing 31,372 530,773 82,507 964 645,616\nTotal Revenue 561,369 597,693 484,146 53,859 1,697,067\nCost of Revenue 240,492 319,739 203,963 244,270 1,008,464\nResearch and Development 109,988\nSelling, General, and Administrative 197,988\nTotal Expenses 1,316,440\nSEGMENT INCOME $ 320,877 $ 277,954 $ 280,183 $ (190,411)\nOPERATING INCOME",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_revenue_growth",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "1'942'884k, peior year: 1'758'225k",
      "golden_context": "Page 73:\n\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 63,445 $ 410,930 $ 44,638 $ 1,048,206\nProcessing 34,903 578,863 94,998 1,255 710,019\nTotal Revenue 564,096 642,308 505,928 45,893 1,758,225\nCost of Revenue 247,150 353,581 212,627 250,041 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 288,727 $ 293,301 $ (204,148)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE\nINCOME TAXES $ 397,725\nYear Ended\nJune 30, 2020\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,997 $ 66,920 $ 401,639 $ 52,895 $ 1,051,451\nProcessing 31,372 530,773 82,507 964 645,616\nTotal Revenue 561,369 597,693 484,146 53,859 1,697,067\nCost of Revenue 240,492 319,739 203,963 244,270 1,008,464\nResearch and Development 109,988\nSelling, General, and Administrative 197,988\nTotal Expenses 1,316,440\nSEGMENT INCOME $ 320,877 $ 277,954 $ 280,183 $ (190,411)\nOPERATING INCOME",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000200_segments",
      "report_id": "ID_000200",
      "company_name": "Jack Henry",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Core, Payments, Complementary, Corporate and Other",
      "golden_context": "Page 38:\n\no $362,916, or $4.94 per diluted share, in fiscal 2022 from $311,469, or $4.12 per diluted share, in fiscal\n2021. The diluted earnings per share increase year over year was 20%. Growth in net income and earnings per share was\nprimarily due to the organic growth in our lines of revenue in fiscal 2022 compared to fiscal 2021, partially offset by the increase\nin provision for income taxes.\nREPORTABLE SEGMENT DISCUSSION\nThe Company is a leading provider of technology solutions and payment processing services primarily for financial services\norganizations.\nThe Company’s operations are classified into four reportable segments: Core, Payments, Complementary, and Corporate and\nOther. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated\napplications required to process deposit, loan, and general ledger transactions, and maintain centralized customer/member\ninformation. The Payments segment provides secure payment processing tools and services, including ATM, debit, and credit\ncard processing services; online and mobile bill pay solutions; ACH origination and remote deposit capture processing; and risk\nmanagement products and services. The Complementary segment provides additional software, hosted processing platforms,\nand services, including call center support, and network security management, consulting, and monitoring, that can be integrated\nwith our core solutions and many can be used independently. The Corporate and Other segment includes revenue and costs\nfrom hardware and other products not attributed to any of the other three segments, as well as operating costs not directly\nattributable to the other three segments.\nImmaterial adjustments were made in fiscal 2022 to reclassify cost of revenue in fiscal 2021 from the Core segment to the\nCorporate and Other segment to be consistent with the current fiscal ye",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_cash_flow",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 381559k",
      "golden_context": "Page 36:\n\nn fees from both fiscal years, which totaled $278 in fiscal 2023 and $323 in fiscal 2022,\nCorporate and Other segment revenue also increased 23%. The increase was mainly due to increased hardware, user group, and\nprocessing fee revenues.\nCost of revenue for the Corporate and Other segment includes operating costs not directly attributable to any of the other three\nsegments and increased 7% for fiscal 2023 compared to fiscal 2022. Reducing total Corporate and Other cost of revenue by\ndeconversion fees from both fiscal years, which totaled $23 in fiscal 2023 and $325 in fiscal 2022, and Payrailz related costs\nof $90, Corporate and Other segment cost of revenue also increased 7%. This increase was primarily related to higher internal\nlicenses and fees and personnel costs, including benefits expenses.\nFinancials | jackhenry.com 35\nLIQUIDITY AND CAPITAL RESOURCES\nThe Company’s cash and cash equivalents decreased to $12,243 at June 30, 2023 from $48,787 at June 30, 2022. The following\ntable summarizes net cash from operating activities in the statement of cash flows:\nYear Ended\nJune 30,\n2023 2022\n$ 381,559 $ 504,631\nNet income $ 366,646 $ 362,916\nNon-cash expenses 166,621 234,676\nChange in receivables (12,067) (41,508)\nChange in deferred revenue (10,547) 6,572\nChange in other assets and liabilities (129,094) (58,025)\nNet cash provided by operating activities Cash provided by operating activities for fiscal 2023 decreased 24% compared to fiscal 2022, primarily due to the change in current\nand deferred income taxes included within non-cash expenses above that were related to Internal Revenue Code (IRC) Section\n174 tax law changes with respect to the treatment of research and development expenses, as indicated by the increase in cash\ntaxes paid, fiscal year over fiscal year. The Company paid income taxes, net of refunds, of $145,862, $60,553, and $80,220 in\nfiscal 2023, 2022, and 2021, respectively. Cash from operations is primarily used to repay debt, pay dividends, repurchase stock,\nand for capital expenditures.\nCash used in investing activities for fiscal 2023 totaled $409,673 and included: $229,628 for the acquisition of Payrailz, $166,120\nfor the ongoing enhancements and development of existing and new product and service offerings; capital expenditures on facilities\nand equipment of $39,179, mainly for the purchase of computer equipment; $1,685 for the purchase and development of internal\nuse software; and $1,000 for purchase of investments. These expenditures were partially offset by $27,939 of proceeds from asset\nsales.\nCash used in investing activities for fiscal",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_company_type",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 19:\n\nBUSINESS\nJack Henry & Associates, Inc.® is a well-rounded financial technology company that strengthens connections between financial\ninstitutions and the people and businesses they serve. For more than 47 years, we have provided technology solutions to help\nbanks and credit unions innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of\ntheir accountholders. We empower over 7,500 financial institutions and diverse corporate entities with people-inspired innovation,\npersonal service, and insight-driven solutions that help reduce the barriers to financial health.\nMission Statement\nWe strengthen the connections between people and their financial institutions through technology and services that reduce the\nbarriers to financial health.\nThis philosophy has always been part of our foundation and the roots on which Jack Henry was built. Our founders, Jack Henry and\nJerry Hall, were committed to their community and believed they could help financial institutions better serve the needs of people\nand businesses using more modern technology and services.\nWhile much has changed since we opened for business in 1976, we continue to be focused on helping community and regional\nfinancial institutions, and we are guided by our founding principles: do the right thing, do whatever it takes, and have fun.\nWho We Serve\nWe provide products and services primarily to community and regional financial institutions:\n•\nCore bank integrated data processing systems are provided to 940 banks ranging from de novo to multi-billion-dollar institutions\nwith assets of up to $50 billion. The number of banks we serve has decreased in the last year due to acquisitions and mergers\nwithin the banking industry, which are discussed further under the heading “Our Industry” in this Item 1. Our banking solutions\nsupport both on-premise and private cloud operating environments with functionally distinct core processing platforms and\nintegrated complementary solutions.\n•\nCore credit union data processing solutions are provided to credit unions of all sizes, with a client base of over 710 credit union\ncustomers. We offer a flagship core processing platform and integrated complementary solutions that support both on-premise\nand private cloud operating environments.\n•\nNon-core highly specialized core-agnostic products and services are also provided to financial institutions. We offer\ncomplementary solutions that include highly specialized financial performance, imaging and payments processing, information\nsecurity and risk management, retail delivery, and online and mobile functionality. These products and services enhance the\nperformance of traditional financial se",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_key_financials",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "revenue 2078m, net income 367m, diluted EPS 5.02",
      "golden_context": "Page 4:\n\nFinancial Highlights\n(In millions except per share data)\nrevenue net income\n$2,200\n$500\ndiluted earnings\nper share\n$4.94 $5.02\n$2,078\n$400\n$363 $367\n$4.12\n$2,000\n$311\n$1,943\n$300\n$200\n$1,800\n$1,758\n$100\n$1,600\n$0\n2021\n2022 2023\nreturn on shareholders’ equity\n2021\n2022 2023\nreturn on invested capital*\n2021\n2022 2023\nEBITDA*\n(earnings before interest, taxes,\ndepreciation, and amortization)\n35%\n35%\n30%\n30%\n$652\n$671\n26.9%\n24.5%\n24.9%\n25%\n25%\n$575\n21.7%\n21.0%\n21.7%\n20%\n20%\n15%\n15%\n10%\n10%\n5%\n5%\n0%\n0%\n2021\n2022\n2023\n2021\n2022\n2023\ndividends declared\nper share\n2021\n2022\n2023\n$2.40\n$2.02\n$1.90\n$2.00\n$1.78\n$1.60\n$1.20\n$0.80\n$0.40\n2021\n2022\n2023\n$6\n$5\n$4\n$3\n$2\n$1\n$0\n$800\n$700\n$600\n$500\n$400\n$300\n$200\n$100\n4\n2023 annual report | Financial Highlights\n*For non-GAAP reconciliation, see page 69.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_revenue",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2'077'702k",
      "golden_context": "Page 67:\n\nYear Ended\nJune 30, 2023\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 615,636 $ 79,818 $ 453,848 $ 65,399 $ 1,214,701\nProcessing 40,528 687,521 130,045 4,907 863,001\nTotal Revenue 656,164 767,339 583,893 70,306 2,077,702\nCost of Revenue 283,531 423,474 239,044 273,013 1,219,062\nResearch and Development 142,678\nSelling, General, and Administrative 235,274\nTotal Expenses 1,597,014\nSEGMENT INCOME $ 372,633 $ 343,865 $ 344,849 $ (202,707)\nOPERATING INCOME 480,688\nINTEREST INCOME (EXPENSE) (6,114)\nINCOME BEFORE INCOME TAXES $ 474,574\nYear Ended\nJune 30, 2022\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 583,752 $ 83,810 $ 434,159 $ 54,644 $ 1,156,365\nProcessing 38,690 635,258 110,085 2,486 786,519\nTotal Revenue 622,442 719,068 544,244 57,130 1,942,884\nCost of Revenue 261,585 386,409 226,229 254,391 1,128,614\nResearch and Development 121,355\nSelling, General, and Administrative 218,296\nTotal Expenses 1,468,265\nSEGMENT INCOME $ 360,857 $ 332,659 $ 318,015 $ (197,261)\nOPERATING INCOME 474,619\nINTEREST INCOME (EXPENSE) (2,352)\nINCOME BEFORE INCOME TAXES $ 472,267\nFinancials | jackhenry.com 67\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 68,800 $ 402,112 $ 48,101 $ 1,048,206\nProcessing 34,903 584,514 89,347 1,255 710,019\nTotal Revenue 564,096 653,314 491,459 49,356 1,758,225\nCost of Revenue 247,150 358,874 208,123 249,252 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 294,440 $ 283,336 $ (199,896)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE INCOME TAXES $ 397,725\nThe Company has not disclosed any additional asset information by segment, as the information is not generated for internal\nmanagement reporting to the Chief Executive Officer, who is also the Chief Operating Decision Maker.\nNOTE 15. SUBSEQUENT EVENTS\nDividend\nOn August 18, 2023, the Company’s Board of Directors declared a cash dividend of $0.52 per share on its common stock, payable\non September 28, 2023, to stockholders of record on September 8, 2023.\nVoluntary departure incentive plan\nIn July 2023, the Company conducted a voluntary separation program for certain eligible employees. The Company is expected to\nincur $17,000 to $18,000 in the fiscal 2024 quarter ending September 30, 2023, associated with this program.\n\nPage 68:\n\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 68,800 $ 402,112 $ 48,101 $ 1,048,206\nProcessing 34,903 584,514 89,347 1,255 710,019\nTotal Revenue 564,096 653,314 491,459 49,356 1,758,225\nCost of Revenue 247,150 358,874 208,123 249,252 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 294,440 $ 283,336 $ (199,896)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE INCOME TAXES $ 397,725\nThe Company has not disclosed any additional asset information by segment, as the information is not generated for internal\nmanagement reporting to the Chief Executive Officer, who is also the Chief Operating Decision Maker.\nNOTE 15. SUBSEQUENT EVENTS\nDividend\nOn August 18, 2023, the Company’s Board of Directors declared a cash dividend of $0.52 per share on its common stock, payable\non September 28, 2023, to stockholders of record on September 8, 2023.\nVoluntary departure incentive plan\nIn July 2023, the Company conducted a voluntary separation program for certain eligible employees. The Company is expected to\nincur $17,000 to $18,000 in the fiscal 2024 quarter ending September 30, 2023, a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_revenue_growth",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "2'077'702k, 1'942'884k prior year",
      "golden_context": "Page 67:\n\nYear Ended\nJune 30, 2023\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 615,636 $ 79,818 $ 453,848 $ 65,399 $ 1,214,701\nProcessing 40,528 687,521 130,045 4,907 863,001\nTotal Revenue 656,164 767,339 583,893 70,306 2,077,702\nCost of Revenue 283,531 423,474 239,044 273,013 1,219,062\nResearch and Development 142,678\nSelling, General, and Administrative 235,274\nTotal Expenses 1,597,014\nSEGMENT INCOME $ 372,633 $ 343,865 $ 344,849 $ (202,707)\nOPERATING INCOME 480,688\nINTEREST INCOME (EXPENSE) (6,114)\nINCOME BEFORE INCOME TAXES $ 474,574\nYear Ended\nJune 30, 2022\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 583,752 $ 83,810 $ 434,159 $ 54,644 $ 1,156,365\nProcessing 38,690 635,258 110,085 2,486 786,519\nTotal Revenue 622,442 719,068 544,244 57,130 1,942,884\nCost of Revenue 261,585 386,409 226,229 254,391 1,128,614\nResearch and Development 121,355\nSelling, General, and Administrative 218,296\nTotal Expenses 1,468,265\nSEGMENT INCOME $ 360,857 $ 332,659 $ 318,015 $ (197,261)\nOPERATING INCOME 474,619\nINTEREST INCOME (EXPENSE) (2,352)\nINCOME BEFORE INCOME TAXES $ 472,267\nFinancials | jackhenry.com 67\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 68,800 $ 402,112 $ 48,101 $ 1,048,206\nProcessing 34,903 584,514 89,347 1,255 710,019\nTotal Revenue 564,096 653,314 491,459 49,356 1,758,225\nCost of Revenue 247,150 358,874 208,123 249,252 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 294,440 $ 283,336 $ (199,896)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE INCOME TAXES $ 397,725\nThe Company has not disclosed any additional asset information by segment, as the information is not generated for internal\nmanagement reporting to the Chief Executive Officer, who is also the Chief Operating Decision Maker.\nNOTE 15. SUBSEQUENT EVENTS\nDividend\nOn August 18, 2023, the Company’s Board of Directors declared a cash dividend of $0.52 per share on its common stock, payable\non September 28, 2023, to stockholders of record on September 8, 2023.\nVoluntary departure incentive plan\nIn July 2023, the Company conducted a voluntary separation program for certain eligible employees. The Company is expected to\nincur $17,000 to $18,000 in the fiscal 2024 quarter ending September 30, 2023, associated with this program.\n\nPage 68:\n\nYear Ended\nJune 30, 2021\nCore Payments Complementary Corporate\nand Other Total\nREVENUE\nServices and Support $ 529,193 $ 68,800 $ 402,112 $ 48,101 $ 1,048,206\nProcessing 34,903 584,514 89,347 1,255 710,019\nTotal Revenue 564,096 653,314 491,459 49,356 1,758,225\nCost of Revenue 247,150 358,874 208,123 249,252 1,063,399\nResearch and Development 109,047\nSelling, General, and Administrative 187,060\nTotal Expenses 1,359,506\nSEGMENT INCOME $ 316,946 $ 294,440 $ 283,336 $ (199,896)\nOPERATING INCOME 398,719\nINTEREST INCOME (EXPENSE) (994)\nINCOME BEFORE INCOME TAXES $ 397,725\nThe Company has not disclosed any additional asset information by segment, as the information is not generated for internal\nmanagement reporting to the Chief Executive Officer, who is also the Chief Operating Decision Maker.\nNOTE 15. SUBSEQUENT EVENTS\nDividend\nOn August 18, 2023, the Company’s Board of Directors declared a cash dividend of $0.52 per share on its common stock, payable\non September 28, 2023, to stockholders of record on September 8, 2023.\nVoluntary departure incentive plan\nIn July 2023, the Company conducted a voluntary separation program for certain eligible employees. The Company is expected to\nincur $17,000 to $18,000 in the fiscal 2024 quarter ending September 30, 2023, a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000201_segments",
      "report_id": "ID_000201",
      "company_name": "Jack Henry",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Core, Payments, Complementary, Corporate and Other",
      "golden_context": "Page 31:\n\ntomer satisfaction using a variety of surveys, such as an annual survey on the customer’s anniversary\ndate and randomly-generated surveys initiated each day by routine support requests. Dedicated surveys are also used to grade\nspecific aspects of our customer experience, including product implementation, education, and consulting services.\nOur two primary revenue streams are “services and support” and “processing.” Services and support includes: “private and public\ncloud” fees that predominantly have contract terms of seven years or longer at inception; “product delivery and services” revenue,\nwhich includes revenue from the sales of licenses, implementation services, deconversion fees, consulting, and hardware; and\n“on-premise support” revenue, composed of maintenance fees which primarily contain annual contract terms. Processing revenue\nincludes: “remittance” revenue from payment processing, remote capture, and ACH transactions; “card” fees, including card\ntransaction processing and monthly fees; and “transaction and digital” revenue, which includes transaction and mobile processing\nfees. We continually seek opportunities to increase revenue while at the same time containing costs to expand margins.\nWe have four reportable segments: Core, Payments, Complementary, and Corporate and Other. The respective segments include\nall related revenues along with the related cost of sales.\nA detailed discussion of the major components of the results of operations follows.\nRESULTS OF OPERATIONS\nFISCAL 2023 COMPARED TO FISCAL 2022\nOn August 31, 2022, the Company acquired all of the equity interest in Payrailz, LLC (“Payrailz”). Payrailz related revenue and\noperating expenses mentio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_cash_flow",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 664m",
      "golden_context": "Page 54:\n\n8 million, $26.5 million and $28.0 million of interest expense on notes payable to UDR for the years ended\nDecember 31, 2021, 2020, and 2019, respectively, eliminate upon consolidation of UDR’s consolidated financial\nstatements.\nStatements of Cash Flows\nThe following discussion explains the changes in Net cash provided by/(used in) operating activities, Net cash provided\nby/(used in) investing activities, and Net cash provided by/(used in) financing activities that are presented in our Consolidated\nStatements of Cash Flows for the years ended December 31, 2021 and 2020.\nOperating Activities\nFor the year ended December 31, 2021, our Net cash provided by/(used in) operating activities was $664.0 million\ncompared to $604.3 million for 2020. The increase in cash flow from operating activities was primarily due to changes in\noperating assets and liabilities and an increase in net operating income.\nInvesting Activities\nFor the year ended December 31, 2021, Net cash provided by/(used in) investing activities was $(1.3) billion compared\nto $(460.8) million for 2020. The increase in cash used in investing activities was primarily due to an increase in acquisitions\nmade during 2021, an increase in spend for development of real estate assets, an increase in investments in unconsolidated joint\nventures and a decrease in distributions received from unconsolidated joint ventures, partially offset by the repayment of notes\nreceivable.\nAcquisitions\nIn January 2021, the Company acquired a 300 apartment home operating community located in Franklin, Massachusetts,\nfor approximately $77.4 million. In connection with the acquisition, the Company assumed an above-market mortgage note\npayable secured by the community with an outstanding balance of approximately $51.8 million. The Company increased its real\nestate assets owned by approximately $82.0 million, recorded $2.0 million of in-place lease intangibles, and recorded a $6.6\nmillion debt premium in connection with the above-market debt assumed.\nIn April 2021, the Company acquired a 636 apartment home operating community located in Farmers Branch, Texas,\nfor approximately $110.2 million. In connection with the acquisition, the Company assumed an above-market mortgage note\npayable secured by the community with an outstanding balance of approximately $42.0 million. The Company increased its real\nestate assets owned by approximately $111.5 million, recorded $3.0 million of in-place lease intangibles, and recorded a $4.3\nmillion debt premium in connection with the above-market debt assumed.\nThe Company previously had a secured note with an unaffiliated third party with an aggregate commitment of $20.0\nmillion. The no",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_company_type",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10524\nUDR, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 54-0857512\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n1745 Shea Center Drive, Suite 200, Highlands Ranch, Colorado 80129\n(Address of principal executive offices) (zip code)\nRegistrant’s telephone number, including area code: (720) 283-6120\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $0.01 par value Trading Symbol(s) UDR Securities registered pursuant to Section 12(g) of the Act: None\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No ◻\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:\nLarge Accelerated Filer þ Accelerated Filer ◻ Non-Accelerated Filer ◻ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes ☒ No ◻\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ⌧\nThe aggregate market value of the shares of common stock of UDR, Inc. held by non-affiliates on June 30, 2021 was approximately $9.5 billion. This calculation excludes\nshares of common stock held by the registrant’s officers and directors and each person known by the registrant to beneficially own more than 5% of the registrant’s outstanding\nshares, as such persons may be deemed to be affiliates. This determination of affiliate status should not be deemed conclusive for any other purpose. As of February 11, 2022, there\nwere 318,264,646 shares of UDR, Inc.’s common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe information required by Part III of this Report, to the extent not ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_key_financials",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Total revenues 1'290'767k, prior year 1'241'165k, operating: 664m, 150016k net income attributable to UDR, Inc.",
      "golden_context": "Page 142:\n\nUDR, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)\nDECEMBER 31, 2021\nYear Ended December 31,\n2021 2020 2019\nReportable apartment home segment lease revenue\nSame-Store Communities (a)\nWest Region $ 414,063 $ 411,988 $ 422,564\nMid-Atlantic Region 246,176 245,460 221,509\nNortheast Region 211,368 209,222 172,658\nSoutheast Region 144,328 136,342 129,354\nSouthwest Region 97,213 93,557 67,804\nNon-Mature Communities/Other 132,738 101,720 88,350\nTotal segment and consolidated lease revenue $ 1,245,886 $ 1,198,289 $ 1,102,239\nReportable apartment home segment other revenue\nSame-Store Communities (a)\nWest Region $ 10,620 $ 12,357 $ 12,924\nMid-Atlantic Region 8,194 7,155 7,429\nNortheast Region 4,867 5,315 4,003\nSoutheast Region 6,498 5,765 6,752\nSouthwest Region 3,932 3,599 2,897\nNon-Mature Communities/Other 4,668 3,616 1,894\nTotal segment and consolidated other revenue $ 38,779 $ 37,807 $ 35,899\nTotal reportable apartment home segment rental income\nSame-Store Communities (a)\nWest Region $ 424,683 $ 424,345 $ 435,488\nMid-Atlantic Region 254,370 252,615 228,938\nNortheast Region 216,235 214,537 176,661\nSoutheast Region 150,826 142,107 136,106\nSouthwest Region 101,145 97,156 70,701\nNon-Mature Communities/Other 137,406 105,336 90,244\nTotal segment and consolidated rental income $ 1,284,665 $ 1,236,096 $ 1,138,138\nReportable apartment home segment NOI\nSame-Store Communities (a)\nWest Region $ 312,341 $ 314,381 $ 330,586\nMid-Atlantic Region 175,445 176,741 161,325\nNortheast Region Southeast Region 137,331 102,061 140,090 96,118 121,800\n94,420\nSouthwest Region 63,320 59,281 44,018\nNon-Mature Communities/Other 76,627 67,091 56,154\nTotal segment and consolidated NOI 867,125 853,702 808,303\nReconciling items:\nJoint venture management and other fees 6,102 5,069 14,055\nProperty management (38,540) (35,538) (32,721)\nOther operating expenses (21,649) (22,762) (13,932)\nReal estate depreciation and amortization (606,648) (608,616) (501,257)\nGeneral and administrative (57,541) (49,885) (51,533)\nCasualty-related (charges)/recoveries, net (3,748) (2,131) (474)\nOther depreciation and amortization (13,185) (10,013) (6,666)\nGain/(loss) on sale of real estate owned 136,052 119,277 5,282\nIncome/(loss) from unconsolidated entities 65,646 18,844 137,873\nInterest expense (186,267) (202,706) (170,917)\nInterest income and other income/(expense), net 15,085 6,274 15,404\nTax (provision)/benefit, net (1,439) (2,545) (3,838)\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating\nPartnership and DownREIT Partnership (10,873) (4,543) (14,426)\nNet (income)/loss attributable to noncontrolling interests (104) (161) (188)\nNet income/(loss) attributable to UDR, Inc. $ 150,016 $ 64,266 $ 184,965\n\nPage 54:\n\n8 million, $26.5 million and $28.0 million of interest expense on notes payable to UDR for the years ended\nDecember 31, 2021, 2020, and 2019, respectively, eliminate upon consolidation of UDR’s consolidated financial\nstatements.\nStatements of Cash Flows\nThe following discussion explains the changes in Net cash provided by/(used in) operating activities, Net cash provided\nby/(used in) investing activities, and Net cash provided by/(used in) financing activities that are presented in our Consolidated\nStatements of Cash Flows for the years ended December 31, 2021 and 2020.\nOperating Activities\nFor the year ended December 31, 2021, our Net cash provided by/(used in) operating activities was $664.0 million\ncompared to $604.3 million for 2020. The increase in cash flow from operating activities was primarily due to changes in\noperating assets and liabilities and an increase in net operating income.\nInvesting Activities\nFor the year ended December 31, 2021, Net cash provided by/(used in) investing activities was $(1.3) billion compared\nto $(460.8) million for 2020. The increase in cash used in investing activities was primarily due to an increase in acquisitions\nmade during 2021, an increase in spend for development of real estate assets, an increase in investments in unconsolidated joint\nventures and a decrease in distributions received from unconsolidated joint ventures, partially offset by the repayment of notes\nreceivable.\nAcquisitions\nIn January 2021, the Company acquired a 300 apartment home operating community located in Franklin, Massachusetts,\nfor approximately $77.4 million. In connection with the acquisition, the Company assumed an above-market mortgage note\npayable secured by the community with an outstanding balance of approximately $51.8 million. The Company increased its real\nestate assets owned by approximately $82.0 million, recorded $2.0 million of in-place lease intangibles, and recorded a $6.6\nmillion debt premium in connection with the above-market debt assumed.\nIn April 2021, the Company acquired a 636 apartment home operating community located in Farmers Branch, Texas,\nfor approximately $110.2 million. In connection with the acquisition, the Company assumed an above-market mortgage note\npayable secured by the community with an outstanding balance of approximately $42.0 million. The Company increased its real\nestate assets owned by approximately $111.5 million, recorded $3.0 million of in-place lease intangibles, and recorded a $4.3\nmillion debt premium in connection with the above-market debt assumed.\nThe Company previously had a secured note with an unaffiliated third party with an aggregate commitment of $20.0\nmillion. The no\n\nPage 114:\n\nUDR, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)\nDECEMBER 31, 2021\nCondensed summary financial information relating to the unconsolidated joint ventures’ and partnerships’ operations\n(not just our proportionate share), is presented below for the years ended December 31, 2021, 2020, and 2019 (dollars in\nthousands):\nDeveloper\nOther West Coast Total Capital Program\nAs of and For the UDR/ UDR/ UDR/MetLife Development Excluding and Other\nYear Ended December 31, 2021 MetLife I MetLife II Joint Ventures Joint Ventures RETV I DCP Investments Total\nCondensed Statements of\nOperations:\nTotal revenues $ 9,186 $ 52,324 $ 52,614 $ 184 $ 6 $ 114,314 $ 18,509 $ 132,823\nProperty operating expenses 4,506 24,165 23,090 333 1,445 53,539 15,626 69,165\nReal estate depreciation and\namortization 5,948 19,006 33,532 — — 58,486 8,429 66,915\nGain/(loss) on sale of real estate — — — 34,757 — 34,757 — 34,757\nOperating income/(loss) (1,268) 9,153 (4,008) 34,608 (1,439) 37,046 (5,546) 31,500\nInterest expense (3,068) (11,873) (17,366) (41) (17) (32,365) (11,161) (43,526)\nOther income/(loss) — — — (1,238) — (1,238) (623) (1,861)\nNet realized gain/(loss) on held\ninvestments — — — — 12,341 12,341 — 12,341\nNet unrealized gain/(loss) on held\ninvestments (a) — — — — 285,155 285,155 16,276 301,431\nNet income/(loss) $ (4,336) $ (2,720)$ (21,374)$ 33,329 $ 296,040 $ 300,939 $ (1,054) $ 299,885\nCondensed Balance Sheets:\nTotal real estate, net $ 108,340 $ 636,674 $ 558,680 $ — $ — $ 1,303,694 $ 739,464 $ 2,043,158\nInvestments, at fair value — — — — 405,675 405,675 54,566 460,241\nReal estate assets held for sale — — — — — — 168,668 168,668\nCash and cash equivalents 1,378 5,864 5,668 — 3,681 16,591 6,300 22,891\nOther assets 1,804 10,483 5,419 — 14 17,720 11,228 28,948\nTotal assets 111,522 653,021 569,767 — 409,370 1,743,680 980,226 2,723,906\nThird party debt, net 71,003 336,533 453,182 — — 860,718 355,200 1,215,918\nLiabilities held for sale — — — — — — 106,990 106,990\nAccounts payable and accrued\nliabilities 1,059 7,360 5,866 — 90 14,375 37,314 51,689\nTotal liabilities 72,062 343,893 459,048 — 90 875,093 499,504 1,374,597\n$ 39,460 $ 309,128 $ 110,719 $ — $ 409,280 $ 868,587 $ 480,722 $ 1,349,309\n(a) Total equity Net unrealized gain/(loss) on held investments primarily related to unrealized gains from SmartRent, which became a public\ncompany in 2021. For the year ended December 31, 2021, the Company recorded its share of the net unrealized gain/(loss)\non held investments of $49.9 million, of which $48.9 million related to SmartRent, in In\n\n\nPage 92:\n\nTATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nREVENUES:\nRental income $ 1,284,665 $ 1,236,096 $ 1,138,138\nJoint venture management and other fees 6,102 5,069 14,055\nTotal revenues 1,290,767 1,241,165 1,152,193\nOPERATING EXPENSES:\nProperty operating and maintenance 218,094 201,944 178,947\nReal estate taxes and insurance 199,446 180,450 150,888\nProperty management 38,540 35,538 32,721\nOther operating expenses 21,649 22,762 13,932\nReal estate depreciation and amortization 606,648 608,616 501,257\nGeneral and administrative 57,541 49,885 51,533\nCasualty-related charges/(recoveries), net 3,748 2,131 474\nOther depreciation and amortization 13,185 10,013 6,666\nTotal operating expenses 1,158,851 1,111,339 936,418\nGain/(loss) on sale of real estate owned 136,052 119,277 5,282\nOperating income 267,968 249,103 221,057\nIncome/(loss) from unconsolidated entities 65,646 18,844 137,873\nInterest expense (186,267) (202,706) (170,917)\nInterest income and other income/(expense), net 15,085 6,274 15,404\nIncome/(loss) before income taxes 162,432 71,515 203,417\nTax (provision)/benefit, net (1,439) (2,545) (3,838)\nNet income/(loss) 160,993 68,970 199,579\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating\nPartnership and DownREIT Partnership (10,873) (4,543) (14,426)\nNet (income)/loss attributable to noncontrolling interests (104) (161) (188)\nNet income/(loss) attributable to UDR, Inc. 150,016 64,266 184,965\nDistributions to preferred stockholders — Series E (Convertible) (4,229) (4,230) (4,104)\nNet income/(loss) attributable to common stockholders $ 145,787 $ 60,036 $ 180,861\nIncome/(loss) per weighted average common share:\nBasic $ 0.49 $ 0.20 $ 0.63\nDiluted $ 0.48 $ 0.20 $ 0.63\nWeighted average number of common shares outstanding:\nBasic 300,326 294,545 285,247\nDiluted",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_revenue",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Total revenues 1'290'767k",
      "golden_context": "Page 114:\n\nUDR, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)\nDECEMBER 31, 2021\nCondensed summary financial information relating to the unconsolidated joint ventures’ and partnerships’ operations\n(not just our proportionate share), is presented below for the years ended December 31, 2021, 2020, and 2019 (dollars in\nthousands):\nDeveloper\nOther West Coast Total Capital Program\nAs of and For the UDR/ UDR/ UDR/MetLife Development Excluding and Other\nYear Ended December 31, 2021 MetLife I MetLife II Joint Ventures Joint Ventures RETV I DCP Investments Total\nCondensed Statements of\nOperations:\nTotal revenues $ 9,186 $ 52,324 $ 52,614 $ 184 $ 6 $ 114,314 $ 18,509 $ 132,823\nProperty operating expenses 4,506 24,165 23,090 333 1,445 53,539 15,626 69,165\nReal estate depreciation and\namortization 5,948 19,006 33,532 — — 58,486 8,429 66,915\nGain/(loss) on sale of real estate — — — 34,757 — 34,757 — 34,757\nOperating income/(loss) (1,268) 9,153 (4,008) 34,608 (1,439) 37,046 (5,546) 31,500\nInterest expense (3,068) (11,873) (17,366) (41) (17) (32,365) (11,161) (43,526)\nOther income/(loss) — — — (1,238) — (1,238) (623) (1,861)\nNet realized gain/(loss) on held\ninvestments — — — — 12,341 12,341 — 12,341\nNet unrealized gain/(loss) on held\ninvestments (a) — — — — 285,155 285,155 16,276 301,431\nNet income/(loss) $ (4,336) $ (2,720)$ (21,374)$ 33,329 $ 296,040 $ 300,939 $ (1,054) $ 299,885\nCondensed Balance Sheets:\nTotal real estate, net $ 108,340 $ 636,674 $ 558,680 $ — $ — $ 1,303,694 $ 739,464 $ 2,043,158\nInvestments, at fair value — — — — 405,675 405,675 54,566 460,241\nReal estate assets held for sale — — — — — — 168,668 168,668\nCash and cash equivalents 1,378 5,864 5,668 — 3,681 16,591 6,300 22,891\nOther assets 1,804 10,483 5,419 — 14 17,720 11,228 28,948\nTotal assets 111,522 653,021 569,767 — 409,370 1,743,680 980,226 2,723,906\nThird party debt, net 71,003 336,533 453,182 — — 860,718 355,200 1,215,918\nLiabilities held for sale — — — — — — 106,990 106,990\nAccounts payable and accrued\nliabilities 1,059 7,360 5,866 — 90 14,375 37,314 51,689\nTotal liabilities 72,062 343,893 459,048 — 90 875,093 499,504 1,374,597\n$ 39,460 $ 309,128 $ 110,719 $ — $ 409,280 $ 868,587 $ 480,722 $ 1,349,309\n(a) Total equity Net unrealized gain/(loss) on held investments primarily related to unrealized gains from SmartRent, which became a public\ncompany in 2021. For the year ended December 31, 2021, the Company recorded its share of the net unrealized gain/(loss)\non held investments of $49.9 million, of which $48.9 million related to SmartRent, in In\n\n\nPage 92:\n\nTATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nREVENUES:\nRental income $ 1,284,665 $ 1,236,096 $ 1,138,138\nJoint venture management and other fees 6,102 5,069 14,055\nTotal revenues 1,290,767 1,241,165 1,152,193\nOPERATING EXPENSES:\nProperty operating and maintenance 218,094 201,944 178,947\nReal estate taxes and insurance 199,446 180,450 150,888\nProperty management 38,540 35,538 32,721\nOther operating expenses 21,649 22,762 13,932\nReal estate depreciation and amortization 606,648 608,616 501,257\nGeneral and administrative 57,541 49,885 51,533\nCasualty-related charges/(recoveries), net 3,748 2,131 474\nOther depreciation and amortization 13,185 10,013 6,666\nTotal operating expenses 1,158,851 1,111,339 936,418\nGain/(loss) on sale of real estate owned 136,052 119,277 5,282\nOperating income 267,968 249,103 221,057\nIncome/(loss) from unconsolidated entities 65,646 18,844 137,873\nInterest expense (186,267) (202,706) (170,917)\nInterest income and other income/(expense), net 15,085 6,274 15,404\nIncome/(loss) before income taxes 162,432 71,515 203,417\nTax (provision)/benefit, net (1,439) (2,545) (3,838)\nNet income/(loss) 160,993 68,970 199,579\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating\nPartnership and DownREIT Partnership (10,873) (4,543) (14,426)\nNet (income)/loss attributable to noncontrolling interests (104) (161) (188)\nNet income/(loss) attributable to UDR, Inc. 150,016 64,266 184,965\nDistributions to preferred stockholders — Series E (Convertible) (4,229) (4,230) (4,104)\nNet income/(loss) attributable to common stockholders $ 145,787 $ 60,036 $ 180,861\nIncome/(loss) per weighted average common share:\nBasic $ 0.49 $ 0.20 $ 0.63\nDiluted $ 0.48 $ 0.20 $ 0.63\nWeighted average number of common shares outstanding:\nBasic 300,326 294,545 285,247\nDiluted",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_revenue_growth",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenues 1'290'767k, prior year 1'241'165k",
      "golden_context": "Page 114:\n\nUDR, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)\nDECEMBER 31, 2021\nCondensed summary financial information relating to the unconsolidated joint ventures’ and partnerships’ operations\n(not just our proportionate share), is presented below for the years ended December 31, 2021, 2020, and 2019 (dollars in\nthousands):\nDeveloper\nOther West Coast Total Capital Program\nAs of and For the UDR/ UDR/ UDR/MetLife Development Excluding and Other\nYear Ended December 31, 2021 MetLife I MetLife II Joint Ventures Joint Ventures RETV I DCP Investments Total\nCondensed Statements of\nOperations:\nTotal revenues $ 9,186 $ 52,324 $ 52,614 $ 184 $ 6 $ 114,314 $ 18,509 $ 132,823\nProperty operating expenses 4,506 24,165 23,090 333 1,445 53,539 15,626 69,165\nReal estate depreciation and\namortization 5,948 19,006 33,532 — — 58,486 8,429 66,915\nGain/(loss) on sale of real estate — — — 34,757 — 34,757 — 34,757\nOperating income/(loss) (1,268) 9,153 (4,008) 34,608 (1,439) 37,046 (5,546) 31,500\nInterest expense (3,068) (11,873) (17,366) (41) (17) (32,365) (11,161) (43,526)\nOther income/(loss) — — — (1,238) — (1,238) (623) (1,861)\nNet realized gain/(loss) on held\ninvestments — — — — 12,341 12,341 — 12,341\nNet unrealized gain/(loss) on held\ninvestments (a) — — — — 285,155 285,155 16,276 301,431\nNet income/(loss) $ (4,336) $ (2,720)$ (21,374)$ 33,329 $ 296,040 $ 300,939 $ (1,054) $ 299,885\nCondensed Balance Sheets:\nTotal real estate, net $ 108,340 $ 636,674 $ 558,680 $ — $ — $ 1,303,694 $ 739,464 $ 2,043,158\nInvestments, at fair value — — — — 405,675 405,675 54,566 460,241\nReal estate assets held for sale — — — — — — 168,668 168,668\nCash and cash equivalents 1,378 5,864 5,668 — 3,681 16,591 6,300 22,891\nOther assets 1,804 10,483 5,419 — 14 17,720 11,228 28,948\nTotal assets 111,522 653,021 569,767 — 409,370 1,743,680 980,226 2,723,906\nThird party debt, net 71,003 336,533 453,182 — — 860,718 355,200 1,215,918\nLiabilities held for sale — — — — — — 106,990 106,990\nAccounts payable and accrued\nliabilities 1,059 7,360 5,866 — 90 14,375 37,314 51,689\nTotal liabilities 72,062 343,893 459,048 — 90 875,093 499,504 1,374,597\n$ 39,460 $ 309,128 $ 110,719 $ — $ 409,280 $ 868,587 $ 480,722 $ 1,349,309\n(a) Total equity Net unrealized gain/(loss) on held investments primarily related to unrealized gains from SmartRent, which became a public\ncompany in 2021. For the year ended December 31, 2021, the Company recorded its share of the net unrealized gain/(loss)\non held investments of $49.9 million, of which $48.9 million related to SmartRent, in In\n\n\nPage 92:\n\nTATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nREVENUES:\nRental income $ 1,284,665 $ 1,236,096 $ 1,138,138\nJoint venture management and other fees 6,102 5,069 14,055\nTotal revenues 1,290,767 1,241,165 1,152,193\nOPERATING EXPENSES:\nProperty operating and maintenance 218,094 201,944 178,947\nReal estate taxes and insurance 199,446 180,450 150,888\nProperty management 38,540 35,538 32,721\nOther operating expenses 21,649 22,762 13,932\nReal estate depreciation and amortization 606,648 608,616 501,257\nGeneral and administrative 57,541 49,885 51,533\nCasualty-related charges/(recoveries), net 3,748 2,131 474\nOther depreciation and amortization 13,185 10,013 6,666\nTotal operating expenses 1,158,851 1,111,339 936,418\nGain/(loss) on sale of real estate owned 136,052 119,277 5,282\nOperating income 267,968 249,103 221,057\nIncome/(loss) from unconsolidated entities 65,646 18,844 137,873\nInterest expense (186,267) (202,706) (170,917)\nInterest income and other income/(expense), net 15,085 6,274 15,404\nIncome/(loss) before income taxes 162,432 71,515 203,417\nTax (provision)/benefit, net (1,439) (2,545) (3,838)\nNet income/(loss) 160,993 68,970 199,579\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating\nPartnership and DownREIT Partnership (10,873) (4,543) (14,426)\nNet (income)/loss attributable to noncontrolling interests (104) (161) (188)\nNet income/(loss) attributable to UDR, Inc. 150,016 64,266 184,965\nDistributions to preferred stockholders — Series E (Convertible) (4,229) (4,230) (4,104)\nNet income/(loss) attributable to common stockholders $ 145,787 $ 60,036 $ 180,861\nIncome/(loss) per weighted average common share:\nBasic $ 0.49 $ 0.20 $ 0.63\nDiluted $ 0.48 $ 0.20 $ 0.63\nWeighted average number of common shares outstanding:\nBasic 300,326 294,545 285,247\nDiluted",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000202_segments",
      "report_id": "ID_000202",
      "company_name": "UDR",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same-Store Communities and Non-Mature Communities/Other",
      "golden_context": "Page 8:\n\ndemand behavioral health support mobile application, providing associates 24/7 access to a care team\ncomprised of coaches and mental health professionals through text-based chats and self-guided activities at no cost to the\nassociate. We also provide all associates with the opportunity to participate in a wide set of employee benefits, including health,\ndental and vision insurance coverage.\nReporting Segments\nWe report in two segments: Same-Store Communities and Non-Mature Communities/Other.\nOur Same-Store Communities segment represents those communities acquired, developed, and stabilized prior to\nJanuary 1, 2020, and held as of December 31, 2021. These communities were owned and had stabilized occupancy and operating\nexpenses as of the beginning of the prior year, there is no plan to conduct substantial redevelopment activities, and the\ncommunities are not classified as held for disposition at year end. A community is considered to have stabilized occupancy once\nit achieves 90% occupancy for at least three consecutive months.\nOur Non-Mature Communities/Other segment represents those communities that do not meet the criteria to be included\nin Same-Store Communities, including, but not limited to, recently acquired, developed and redeveloped communities, and the\nnon-apartment components of mixed use properties. For additional information regarding our operating segments, see Note 16,\nReportable Segments, in the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_cash_flow",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating:       820'071k, \ninvesting:      -929'528k,  \nfinancing        111'233k, \ntotal cash flow    1'776k\n\n",
      "golden_context": "Page 78:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands, except for share data)\nYear Ended December 31,\n2022 2021 2020\nOperating Activities\nNet income/(loss) $ 92,579 $ 160,993 $ 68,970\nAdjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:\nDepreciation and amortization 679,572 619,833 618,629\n(Gain)/loss on sale of real estate owned (25,494) (136,052) (119,277)\n(Income)/loss from unconsolidated entities (4,947) (65,646) (18,844)\nReturn on investment in unconsolidated joint ventures and partnerships 22,369 23,269 20,664\nAmortization of share-based compensation 27,505 22,052 19,616\nLoss on extinguishment of debt, net— 42,336 49,190\nOther 31,835 19,182 12,193\nChanges in operating assets and liabilities:\n(Increase)/decrease in operating assets Increase/(decrease) in operating liabilities Net cash provided by/(used in) operating activities 9,792 (33,454) (44,670)\n(13,140) 11,447 (2,155)\n820,071 663,960 604,316\nInvesting Activities\nAcquisition of real estate assets (341,149) (1,244,508) (407,829)\nProceeds from sales of real estate investments, net 40,808 280,077 277,886\nDevelopment of real estate assets (198,022) (178,029) (121,240)\nCapital expenditures and other major improvements — real estate assets (214,833) (156,384) (163,105)\nCapital expenditures — non-real estate assets (21,180) (10,140) (11,008)\nInvestment in unconsolidated joint ventures and partnerships (201,412) (112,321) (76,073)\nDistributions received from unconsolidated joint ventures and partnerships 81,443 37,362 49,342\nPurchase deposits on pending acquisitions— — (1,530)\nRepayment/(issuance) of notes receivable, net (75,183) 111,690 (7,285)\nNet cash provided by/(used in) investing activities (929,528) (1,272,253) (460,842)\nFinancing Activities\nPayments on secured debt (1,141) (1,096) (425,839)\nProceeds from the issuance of secured debt\n—\n—\n160,930\nPayments on unsecured debt— (300,000) (300,000)\nNet proceeds from the issuance of unsecured debt\n—\n511,552 959,419\nNet proceeds/(repayment) of commercial paper 80,000 30,000 (110,000)\nNet proceeds/(repayment) of revolving bank debt (1,531) 1,522 11,441\nProceeds from the issuance of common shares through public offering, net 629,552 899,053 102,234\nRepurchase of common shares (49,028)— (19,795)\nDistributions paid to redeemable noncontrolling interests (34,255) (33,663) (32,038)\nDistributions paid to preferred stockholders (4,381) (4,225) (4,217)\nDistributions paid to common stockholders (483,624) (433,780) (419,350)\nPayment of prepayment and extinguishment costs— (40,769) (62,645)\nOther (24,359) (16,054) (12,734)\nNet cash provided by/(used in) financing activities 111,233 612,540 (152,594)\nNet increase/(decrease) in cash, cash equivalents, and restricted cash 1,776 4,247 (9,120)\nCash, cash equivalents, and restricted cash, beginning of year 28,418 24,171 33,291\nCash, cash equivalents, and restricted cash, end of year $ 30,194 $ 28,418 $ 24,171\nSupplemental Information:\nInterest paid during the period, net of amounts capitalized $ 154,911 $ 136,978 $ 159,386\nCash paid for amounts included in the measurement of lease liabilities:\nOperating cash flows from operating leases 12,502 12,502 12,502\nCash paid/(refunds received) for income taxes 1,145 4,778 1,029\nNon-cash transactions:\nSecured debt assumed upon acquisition of real estate assets $ — $ 201,296 $ —\nAcquisition of land parcel pursuant to a deed in lieu of foreclosure— 25,000 —\nCancellation of secured note receivable pursuant to a deed in lieu of foreclosure— 24,869 —\nTransfer of investment in and advances to unconsolidated joint ventures to real estate owned— 16,425 14,700\nOP Units issued for real estate, net— 48,533 —\nAcquisition of intellectual property in exchange for cancellation of secured note receivable— — 2,250\nRecognition of allowance for credit losses— — 2,182\nRedeemable long-term and short-term incentive plan units 56,568 14,578 23,501\nDevelopment costs and capital expenditures incurred, but not yet paid 56,336 39,856 31,387",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_company_type",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10524\nUDR, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 54-0857512\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n1745 Shea Center Drive, Suite 200, Highlands Ranch, Colorado 80129\n(Address of principal executive offices) (zip code)\nRegistrant’s telephone number, including area code: (720) 283-6120\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $0.01 par value Trading Symbol(s) UDR Securities registered pursuant to Section 12(g) of the Act: None\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No ◻\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period\nthat the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large\naccelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:\nLarge Accelerated Filer þ Accelerated Filer ◻ Non-Accelerated Filer ◻ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided\npursuant to Section 13(a) of the Exchange Act. ◻\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the\nSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued\nfinancial statements. ◻\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the\nrelevant recovery period pursuant to §240.10D-1(b). ◻\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ⌧\nThe aggregate market value of the shares of common stock of UDR, Inc. held by non-affiliates on June 30, 2022 was approximately $6.0 billion. This calculation excludes shares of common stock held by the\nregistrant’s officers and directors and each person known by the registrant to beneficially own more than 5% of the registrant’s outstanding shares, as such persons may be deemed to be affiliates. This determination of\naffiliate status should not be deemed conclusive for any other purpose. As of February 8, 2023, there were 329,165,608 shares of UDR, Inc.\n’s common stock outstanding.\nDOCUMENTS INCOR",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_key_financials",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Total: 1'517'386k, prior year 1'290'767k",
      "golden_context": "Page 75:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2022\n2021\n2020\nREVENUES:\nRental income $ 1,512,364 $ 1,284,665 $ 1,236,096\nJoint venture management and other fees 5,022 6,102 5,069\nTotal revenues 1,517,386 1,290,767 1,241,165\nOPERATING EXPENSES:\nProperty operating and maintenance 250,310 218,094 201,944\nReal estate taxes and insurance 221,662 199,446 180,450\nProperty management 49,152 38,540 35,538\nOther operating expenses 17,493 21,649 22,762\nReal estate depreciation and amortization 665,228 606,648 608,616\nGeneral and administrative 64,144 57,541 49,885\nCasualty-related charges/(recoveries), net 9,733 3,748 2,131\nOther depreciation and amortization 14,344 13,185 10,013\nTotal operating expenses 1,292,066 1,158,851 1,111,339\nGain/(loss) on sale of real estate owned 25,494 136,052 119,277\nOperating income 250,814 267,968 249,103\nIncome/(loss) from unconsolidated entities 4,947 65,646 18,844\nInterest expense (155,900) (186,267) (202,706)\nInterest income and other income/(expense), net (6,933) 15,085 6,274\nIncome/(loss) before income taxes 92,928 162,432 71,515\nTax (provision)/benefit, net (349) (1,439) (2,545)\nNet income/(loss) 92,579 160,993 68,970\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and\nDownREIT Partnership (5,613) (10,873) (4,543)\nNet (income)/loss attributable to noncontrolling interests (42) (104) (161)\nNet income/(loss) attributable to UDR, Inc. 86,924 150,016 64,266\nDistributions to preferred stockholders — Series E (Convertible) (4,412) (4,229) (4,230)\nNet income/(loss) attributable to common stockholders $ 82,512 $ 145,787 $ 60,036\nIncome/(loss) per weighted average common share:\nBasic $ 0.26 $ 0.49 $ 0.20\nDiluted $ 0.26 $ 0.48 $ 0.20\nWeighted average number of common shares outstanding:\nBasic 321,671 300,326 294,545\nDiluted 322,700 301,703 294,927\nSee accompanying notes to consolidated financial statements.\nF - 6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_revenue",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Total: 1'517'386k",
      "golden_context": "Page 75:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2022\n2021\n2020\nREVENUES:\nRental income $ 1,512,364 $ 1,284,665 $ 1,236,096\nJoint venture management and other fees 5,022 6,102 5,069\nTotal revenues 1,517,386 1,290,767 1,241,165\nOPERATING EXPENSES:\nProperty operating and maintenance 250,310 218,094 201,944\nReal estate taxes and insurance 221,662 199,446 180,450\nProperty management 49,152 38,540 35,538\nOther operating expenses 17,493 21,649 22,762\nReal estate depreciation and amortization 665,228 606,648 608,616\nGeneral and administrative 64,144 57,541 49,885\nCasualty-related charges/(recoveries), net 9,733 3,748 2,131\nOther depreciation and amortization 14,344 13,185 10,013\nTotal operating expenses 1,292,066 1,158,851 1,111,339\nGain/(loss) on sale of real estate owned 25,494 136,052 119,277\nOperating income 250,814 267,968 249,103\nIncome/(loss) from unconsolidated entities 4,947 65,646 18,844\nInterest expense (155,900) (186,267) (202,706)\nInterest income and other income/(expense), net (6,933) 15,085 6,274\nIncome/(loss) before income taxes 92,928 162,432 71,515\nTax (provision)/benefit, net (349) (1,439) (2,545)\nNet income/(loss) 92,579 160,993 68,970\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and\nDownREIT Partnership (5,613) (10,873) (4,543)\nNet (income)/loss attributable to noncontrolling interests (42) (104) (161)\nNet income/(loss) attributable to UDR, Inc. 86,924 150,016 64,266\nDistributions to preferred stockholders — Series E (Convertible) (4,412) (4,229) (4,230)\nNet income/(loss) attributable to common stockholders $ 82,512 $ 145,787 $ 60,036\nIncome/(loss) per weighted average common share:\nBasic $ 0.26 $ 0.49 $ 0.20\nDiluted $ 0.26 $ 0.48 $ 0.20\nWeighted average number of common shares outstanding:\nBasic 321,671 300,326 294,545\nDiluted 322,700 301,703 294,927\nSee accompanying notes to consolidated financial statements.\nF - 6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_revenue_growth",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Total: 1'517'386k, prior year 1'290'767k",
      "golden_context": "Page 75:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2022\n2021\n2020\nREVENUES:\nRental income $ 1,512,364 $ 1,284,665 $ 1,236,096\nJoint venture management and other fees 5,022 6,102 5,069\nTotal revenues 1,517,386 1,290,767 1,241,165\nOPERATING EXPENSES:\nProperty operating and maintenance 250,310 218,094 201,944\nReal estate taxes and insurance 221,662 199,446 180,450\nProperty management 49,152 38,540 35,538\nOther operating expenses 17,493 21,649 22,762\nReal estate depreciation and amortization 665,228 606,648 608,616\nGeneral and administrative 64,144 57,541 49,885\nCasualty-related charges/(recoveries), net 9,733 3,748 2,131\nOther depreciation and amortization 14,344 13,185 10,013\nTotal operating expenses 1,292,066 1,158,851 1,111,339\nGain/(loss) on sale of real estate owned 25,494 136,052 119,277\nOperating income 250,814 267,968 249,103\nIncome/(loss) from unconsolidated entities 4,947 65,646 18,844\nInterest expense (155,900) (186,267) (202,706)\nInterest income and other income/(expense), net (6,933) 15,085 6,274\nIncome/(loss) before income taxes 92,928 162,432 71,515\nTax (provision)/benefit, net (349) (1,439) (2,545)\nNet income/(loss) 92,579 160,993 68,970\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and\nDownREIT Partnership (5,613) (10,873) (4,543)\nNet (income)/loss attributable to noncontrolling interests (42) (104) (161)\nNet income/(loss) attributable to UDR, Inc. 86,924 150,016 64,266\nDistributions to preferred stockholders — Series E (Convertible) (4,412) (4,229) (4,230)\nNet income/(loss) attributable to common stockholders $ 82,512 $ 145,787 $ 60,036\nIncome/(loss) per weighted average common share:\nBasic $ 0.26 $ 0.49 $ 0.20\nDiluted $ 0.26 $ 0.48 $ 0.20\nWeighted average number of common shares outstanding:\nBasic 321,671 300,326 294,545\nDiluted 322,700 301,703 294,927\nSee accompanying notes to consolidated financial statements.\nF - 6",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000203_segments",
      "report_id": "ID_000203",
      "company_name": "UDR",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same-Store Communities and Non-Mature Communities/Other",
      "golden_context": "Page 122:\n\nINC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)\nDECEMBER 31, 2022\nUDR owns and operates multifamily apartment communities that generate rental and other property related income through the leasing of\napartment homes to a diverse base of tenants. The primary financial measures for UDR’s apartment communities are rental income and net\noperating income (“NOI”). Rental income represents gross market rent less adjustments for concessions, vacancy loss and bad debt. NOI is defined\nas rental income less direct property rental expenses. Rental expenses include real estate taxes, insurance, personnel, utilities, repairs and\nmaintenance, administrative and marketing. Excluded from NOI is property management expense, which is calculated as 3.25% of property\nrevenue, and land rent. Property management expense covers costs directly related to consolidated property operations, inclusive of corporate\nmanagement, regional supervision, accounting and other costs. UDR’s Chief Operating Decision Maker utilizes NOI as the key measure of segment\nprofit or loss.\nUDR’s two reportable segments are Same-Store Communities and Non-Mature Communities/Other:\n● Same-Store Communities represent those communities acquired, developed, and stabilized prior to January 1, 2021 and held as of\nDecember 31, 2022. A comparison of operating results from the prior year is meaningful as these communities were owned and had\nstabilized occupancy and operating expenses as of the beginning of the prior year, there is no plan to conduct substantial\nredevelopment activities, and the community is not classified as held for disposition within the current year. A community is\nconsidered to have stabilized occupancy once it achieves 90% occupancy for at least three consecutive months.\n● Non-Mature Communities/Other represent those communities that do not meet the criteria to be included in Same-Store Communities,\nincluding, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment components of mixed\nuse properties.\nManagement evaluates the performance of each of our apartment communities on a Same-Store Community and Non-Mature\nCommunity/Other basis, as well as individually and geographically. This is consistent with the aggregation criteria under GAAP as each of our\napartment communities generally has similar economic characteristics, facilities, services, and tenants. Therefore, the Company’s reportable\nsegments have been aggregated by geography in a manner identical to that which is provided to the Chief Operating Decision Maker.\nAll revenues are from external customers and no single tenant or related group of tenants contributed 10% or more of UDR’s total\nrevenues during the years ended December 31, 2022, 2021, and 2020.\nThe following is a description of the principal streams from which the Company generates its revenue:\nLease Revenue\nLease revenue related to leases is recognized on an accrual basis when due from residents or tenants in accordance with ASC 842, Leases.\nRental payments are generally due on a monthly basis and recognized on a straight-line basis over the noncancellable lease term because collection\nof the lease payments was probable at lease commencement, inclusive of any periods covered by an option to extend the lease if the lessee is\nreasonably certain to exercise that option. In addition, in circumstances where a lease incentive is provided to tenants, the incentive is recognized as\na reduction of lease revenue on a straight-line basis over the lease term.\nLease revenue also includes all pass-through revenue from retail and residential leases and common area maintenance reimbursements\nfrom retail leases. These services represent non-lease components in a contract as the Company transfers a service to the lessee other than the right\nto use the underlying asset. The Company has elected the practical expedient under the leasing standard to not separate lease and non-lease\ncomponents from its resident and retail lease contracts as the timing and pattern of revenue recognition for the non-lease component and related\nlease component are the same and the combined single lease component would be classified as an operating lease.\nOther Revenue\nOther revenue is generated by services provided by the Company to its retail and residential tenants and other unrelated third parties.\nRevenue is measured based on consideration specified in contracts with customers. The Company recognizes revenue when it satisfies a\nperformance obligation by providing the services specifie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_cash_flow",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating:      832'664k, \ninvesting      -289'138k, \nfinancing      -538'854k, \ntotal cash flow   4'672k",
      "golden_context": "Page 79:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands, except for share data)\n2023\nYear Ended December 31,\n2022\n2021\nOperating Activities\nNet income/(loss) $ 474,488 $ 92,579 $ 160,993\nAdjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:\nDepreciation and amortization 691,838 679,572 619,833\n(Gain)/loss on sale of real estate owned (351,193) (25,494) (136,052)\n(Income)/loss from unconsolidated entities (4,693) (4,947) (65,646)\nReturn on investment in unconsolidated joint ventures and partnerships 15,944 22,369 23,269\nAmortization of share-based compensation 32,896 27,505 22,052\nLoss on extinguishment of debt, net— — 42,336\nOther 9,791 31,835 19,182\nChanges in operating assets and liabilities:\n(Increase)/decrease in operating assets Increase/(decrease) in operating liabilities Net cash provided by/(used in) operating activities (33,579) 9,792 (33,454)\n(2,828) (13,140) 11,447\n832,664 820,071 663,960\nInvesting Activities\nAcquisition of real estate assets (17,848) (341,149) (1,244,508)\nProceeds from sales of real estate investments, net 325,767 40,808 280,077\nDevelopment of real estate assets (155,875) (198,022) (178,029)\nCapital expenditures and other major improvements — real estate assets (295,440) (214,833) (156,384)\nCapital expenditures — non-real estate assets (16,907) (21,180) (10,140)\nInvestment in unconsolidated joint ventures and partnerships (71,395) (201,412) (112,321)\nDistributions received from unconsolidated joint ventures and partnerships 14,399 81,443 37,362\nProceeds from sale of equity securities 14,471— —\nPurchase deposits on pending acquisitions (1,000)— —\nRepayment/(issuance) of notes receivable, net (85,310) (75,183) 111,690\nNet cash provided by/(used in) investing activities (289,138) (929,528) (1,272,253)\nFinancing Activities\nPayments on secured debt (1,244) (1,141) (1,096)\nPayments on unsecured debt— — (300,000)\nNet proceeds from the issuance of unsecured debt\n—\n—\n511,552\nNet proceeds/(repayment) of commercial paper 108,075 80,000 30,000\nNet proceeds/(repayment) of revolving bank debt (23,425) (1,531) 1,522\nProceeds from the issuance of common shares through public offering, net (551) 629,552 899,053\nRepurchase of common shares (25,009) (49,028) —\nDistributions paid to redeemable noncontrolling interests (35,582) (34,255) (33,663)\nDistributions paid to preferred stockholders (4,770) (4,381) (4,225)\nDistributions paid to common stockholders (539,852) (483,624) (433,780)\nPayment of prepayment and extinguishment costs— — (40,769)\nOther (16,496) (24,359) (16,054)\nNet cash provided by/(used in) financing activities (538,854) 111,233 612,540\nNet increase/(decrease) in cash, cash equivalents, and restricted cash 4,672 1,776 4,247\nCash, cash equivalents, and restricted cash, beginning of year 30,194 28,418 24,171\nCash, cash equivalents, and restricted cash, end of year $ 34,866 $ 30,194 $ 28,418\nSupplemental Information:\nInterest paid during the period, net of amounts capitalized $ 184,201 $ 154,911 $ 136,978\nCash paid for amounts included in the measurement of lease liabilities:\nOperating cash flows from operating leases 12,502 12,502 12,502\nCash paid/(refunds received) for income taxes 1,911 1,145 4,778\nNon-cash transactions:\nSecured debt assumed upon acquisition of real estate assets $ 191,737 $ — $ 201,296\nAcquisition of land parcel pursuant to a deed in lieu of foreclosure— — 25,000\nCancellation of secured note receivable pursuant to a deed in lieu of foreclosure— — 24,869\nTransfer of investment in and advances to unconsolidated joint ventures to real estate owned— — 16,425\nOP Units issued for real estate, net 141,359— 48,533\nRedeemable long-term and short-term incentive plan units 28,507 56,568 14,578\nDevelopment costs and capital expenditures incurred, but not yet paid 39,080 56,336 39,856\nConversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock\n(470,800 shares; 502,868 shares; and 1,916,613 shares) 18,794 23,741 99,9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_company_type",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10524\nUDR, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 54-0857512\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n1745 Shea Center Drive, Suite 200, Highlands Ranch, Colorado 80129\n(Address of principal executive offices) (zip code)\nRegistrant’s telephone number, including area code: (720) 283-6120\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $0.01 par value Trading Symbol(s) UDR Securities registered pursuant to Section 12(g) of the Act: None\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No ◻\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during\nthe preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of\n“large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:\nLarge Accelerated Filer þ Accelerated Filer ◻ Non-Accelerated Filer ◻ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act. ◻\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b)\nof the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to\npreviously issued financial statements. ◻\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers\nduring the relevant recovery period pursuant to §240.10D-1(b). ◻\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ⌧\nThe aggregate market value of the shares of common stock of UDR, Inc. held by non-affiliates on June 30, 2023 was approximately $5.5 billion. This calculation excludes shares of common stock held\nby the registrant’s officers and directors and each person known by the registrant to beneficially own more than 5% of the registrant’s outstanding shares, as such persons may be deemed to be affiliates. This\ndetermination of affiliate status should not be deemed conclusive for any other purpose. As of February 16, 2024, there were 329,224,105 shares of UDR, Inc.\n’s common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe information required by Part III of this Report, to the extent not set forth herein, is inc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_key_financials",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income attributable to common stockholders 439.5m, gain on the sale of real estate of 351.2m.",
      "golden_context": "Page 52:\n\n GAAP is as follows (dollars in thousands):\nYear Ended December 31,\nNet cash provided by/(used in) operating activities Net cash provided by/(used in) investing activities Net cash provided by/(used in) financing activities 2023\n2022\n$ 832,664 $ 820,071\n(289,138) (929,528)\n(538,854) 111,233\nResults of Operations\nThe following discussion explains the changes in results of operations that are presented in our Consolidated Statements of\nOperations for the years ended December 31, 2023 and 2022.\nNet Income/(Loss) Attributable to Common Stockholders\nNet income/(loss) attributable to common stockholders was $439.5 million ($1.34 per diluted share) for the year ended\nDecember 31, 2023, as compared to $82.5 million ($0.26 per diluted share) for the prior year. The increase resulted primarily from the\nfollowing items, all of which are discussed in further detail elsewhere within this Report:\n● gains on the sale of real estate of $351.2 million from the partial sale of four operating communities located in various markets\nand the sale of an operating community located in Hillsboro, Oregon, during the year ended December 31, 2023, as compared\nto a gain of $25.5 million from the sale of one operating community located in Orange County, California, during the year\nended December 31, 2022;\n● an increase in total property NOI of $74.4 million primarily due to higher revenue per occupied home and NOI from additional\noperating communities, partially offset by a decrease in weighted average physical occupancy and an increase in property\noperating expenses; and\n● an increase in interest income and other income/(expense), net of $24.7 million primarily due to realized and unrealized\ngains/(losses) of $3.5 million from our direct investment in SmartRent during the year ended December 31, 2023, as compared\nto $(15.7) million during the year ended December 31, 2022, and $11.0 million of higher interest income from our notes\nreceivables, partially offset by a $5.9 million gain from the sale of a technology investment in 2022.\nThis was partially offset by:\n● an increase in net income attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT\nPartnership of $24.5 million primarily attributed to the noncontrolling interests’ share of the gain from the partial sale of four\noperating communities located in various markets and an operating community located in Hillsboro, Oregon during the year\nended December 31, 2023, as compared to the noncontrolling interests’ share of the gain from the sale of an operating\ncommunity located in Orange County, California during the year ended December 31, 2022;\n● an increase in interest expense of $25.0 million primarily due to an increase in average interest rates and higher overall debt\nbalances during the year ended December 31, 2023, as compared the year ended December 31, 2022; and\n● an increase in depreciation expense of $11.2 million primarily due to communities acquired and completion of developments in\n2023 and 2022, partially offset by communities sold in 2023 and assets that became fully depreciated in 2023 and 2022.\n50\nTable of Contents\nApartment Community Operations\nOur net income results are primarily from NOI generated from the operation of our apartment communities. The Company defines\nNOI, which is a non-GAAP financial measure, as rental income less direct property rental expenses. Rental income represents gross market\nrent less adjustments for concessions, vacancy loss and bad debt. Rental expenses include real estate taxes, insurance, personnel, utilities,\nrepairs and maintenance, administrative and marketing. Excluded from NOI is property management expense, which is calculated as 3.25%\nof property revenue, and land rent. Property management expense covers costs directly related to consolidated property operations, inclusive\nof corporate management, regional supervision, accounting and other costs.\nManagement considers NOI a useful metric for investors as it is a more meaningful representation of a community’s continuing\noperating performance than net income as it is prior to corporate-level expense allocations, general and administrative costs, capital structure\nand depreciation and amortization.\nAlthough the Company considers NOI a useful measure of operating performance, NOI should not be considered an alternative to\nnet income or net cash flow from operating activities as determined in accordance with GAAP. NOI excludes several income and expense\ncategories as detailed in the reconciliation of NOI to Net income/(loss) attributable to UDR, Inc. below.\nThe following table summarizes the operating performance of our total property NOI for each of the periods presented (dollars in\nthousands):\nYear Ended Year Ended\nDecember 31, (a) December 31, (b)\n2023 2022 % Change 2022 2021 % Change\nSame-Store Communities:\nSame-Store rental income $ 1,490,837 $ 1,411,495 5.6 % $ 1,337,003 $ 1,203,921 11.1 %\nSame-Store operating expense (c) (453,144) (432,630) 4.7 % (404,150) (382,226) 5.7 %\nSame-Store NOI 1,037,693\n978,865\n6.0 % 932,853\n821,695 13.5 %\nNon-Mature Communities/Other NOI:\nStabilized, non-mature communities NOI\n(d) 34,726 17,651 96.7 % 88,767 33,789 162.7 %\nDevelopment communities NOI 258 (1,387) NM *\n2,306 (418) NM *\nNon-residential/other NOI (e) 18,287 14,801 23.6 % 14,801 5,296 179.5 %\nSold and held for disposition communities\nNOI 23,806 30,462 (21.9)% 1,665 6,763 (75.4)%\nTotal Non-Mature Communities/Other\nNOI Total property NOI $ 1,114,770\n77,077 61,527 25.3 % 107,539 45,430 136.7 %\n$ 1,040,392\n7.1 % $ 1,040,392\n$ 867,125 20.0 %\n* Not meaningful\n(a) (b) (c) (d) Same-Store consists of 51,368 apartment homes.\nSame-Store consists of 47,360 apartment homes.\nExcludes depreciation, amortization, and property management expenses.\nRepresents non-mature communities that have achieved 90% occupancy for three consecutive months but do not meet the criteria to be\nincluded in Same-Store Communities.\n(e) Primarily non-residential revenue and expense and straight-line adjustment for concessions.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_revenue",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1'627'501k",
      "golden_context": "Page 76:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nREVENUES:\nRental income $ 1,620,658 $ 1,512,364 $ 1,284,665\nJoint venture management and other fees 6,843 5,022 6,102\nTotal revenues 1,627,501 1,517,386 1,290,767\nOPERATING EXPENSES:\nProperty operating and maintenance 273,736 250,310 218,094\nReal estate taxes and insurance 232,152 221,662 199,446\nProperty management 52,671 49,152 38,540\nOther operating expenses 20,222 17,493 21,649\nReal estate depreciation and amortization 676,419 665,228 606,648\nGeneral and administrative 69,929 64,144 57,541\nCasualty-related charges/(recoveries), net 3,138 9,733 3,748\nOther depreciation and amortization 15,419 14,344 13,185\nTotal operating expenses 1,343,686 1,292,066 1,158,851\nGain/(loss) on sale of real estate owned 351,193 25,494 136,052\nOperating income 635,008 250,814 267,968\nIncome/(loss) from unconsolidated entities 4,693 4,947 65,646\nInterest expense (180,866) (155,900) (186,267)\nInterest income and other income/(expense), net 17,759 (6,933) 15,085\nIncome/(loss) before income taxes 476,594 92,928 162,432\nTax (provision)/benefit, net (2,106) (349) (1,439)\nNet income/(loss) 474,488 92,579 160,993\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership\nand DownREIT Partnership (30,104) (5,613) (10,873)\nNet (income)/loss attributable to noncontrolling interests (31) (42) (104)\nNet income/(loss) attributable to UDR, Inc. 444,353 86,924 150,016\nDistributions to preferred stockholders — Series E (Convertible) (4,848) (4,412) (4,229)\nNet income/(loss) attributable to common stockholders $ 439,505 $ 82,512 $ 145,787\nIncome/(loss) per weighted average common share:\nBasic Diluted $ 1.34 $ 0.26 $ 0.49\n$ 1.34 $ 0.26 $ 0.48\nWeighted average number of common shares outstanding:\nBasic 328,765 321,671 300,326\nDiluted 329,104 322,700 301,703\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_revenue_growth",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1'627'501k, prior year: 1'517'386k",
      "golden_context": "Page 76:\n\nUDR, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nREVENUES:\nRental income $ 1,620,658 $ 1,512,364 $ 1,284,665\nJoint venture management and other fees 6,843 5,022 6,102\nTotal revenues 1,627,501 1,517,386 1,290,767\nOPERATING EXPENSES:\nProperty operating and maintenance 273,736 250,310 218,094\nReal estate taxes and insurance 232,152 221,662 199,446\nProperty management 52,671 49,152 38,540\nOther operating expenses 20,222 17,493 21,649\nReal estate depreciation and amortization 676,419 665,228 606,648\nGeneral and administrative 69,929 64,144 57,541\nCasualty-related charges/(recoveries), net 3,138 9,733 3,748\nOther depreciation and amortization 15,419 14,344 13,185\nTotal operating expenses 1,343,686 1,292,066 1,158,851\nGain/(loss) on sale of real estate owned 351,193 25,494 136,052\nOperating income 635,008 250,814 267,968\nIncome/(loss) from unconsolidated entities 4,693 4,947 65,646\nInterest expense (180,866) (155,900) (186,267)\nInterest income and other income/(expense), net 17,759 (6,933) 15,085\nIncome/(loss) before income taxes 476,594 92,928 162,432\nTax (provision)/benefit, net (2,106) (349) (1,439)\nNet income/(loss) 474,488 92,579 160,993\nNet (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership\nand DownREIT Partnership (30,104) (5,613) (10,873)\nNet (income)/loss attributable to noncontrolling interests (31) (42) (104)\nNet income/(loss) attributable to UDR, Inc. 444,353 86,924 150,016\nDistributions to preferred stockholders — Series E (Convertible) (4,848) (4,412) (4,229)\nNet income/(loss) attributable to common stockholders $ 439,505 $ 82,512 $ 145,787\nIncome/(loss) per weighted average common share:\nBasic Diluted $ 1.34 $ 0.26 $ 0.49\n$ 1.34 $ 0.26 $ 0.48\nWeighted average number of common shares outstanding:\nBasic 328,765 321,671 300,326\nDiluted 329,104 322,700 301,703\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000204_segments",
      "report_id": "ID_000204",
      "company_name": "UDR",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same-Store Communities and Non-Mature Communities/Other",
      "golden_context": "Page 8:\n\ns.\nOur commitment to associate benefits is underscored by a third-party benefits survey, conducted in 2023, where 77% of respondents\nbelieved that UDR offered benefits meeting their needs. Utilizing feedback from this survey and our engagement survey, we enhanced the\nLifestyle Spending Account. The Lifestyle Spending Account provides flexibility by allowing associates to allocate $1,000 annually to\nvarious health, wellness, and lifestyle categories. Furthermore, we implemented a 401(k) auto-enrollment for new hires at 3% of their salary\nthat started in January 2024. We also provide a comprehensive set of employee benefits, including health, dental, and vision insurance\ncoverage for all associates.\nReporting Segments\nWe report in two segments: Same-Store Communities and Non-Mature Communities/Other.\nOur Same-Store Communities segment represents those communities acquired, developed, and stabilized prior to January 1, 2022,\nand held as of December 31, 2023. These communities were owned and had stabilized occupancy and operating expenses as of the beginning\nof the prior year, there is no plan to conduct substantial redevelopment activities, and the communities are not classified as held for\ndisposition at year end. A community is considered to have stabilized occupancy once it achieves 90% occupancy for at least three\nconsecutive months.\nOur Non-Mature Communities/Other segment represents those communities that do not meet the criteria to be included in Same-\nStore Communities, including, but not limited to, recently acquired, developed and redeveloped communities, and the non-apartment\ncomponents of mixed use properties. For additional information regarding our operating segments, see Note 16, Reportable Segments, in the\nNotes to the UDR Consolidated Financial Statements included in this Report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_cash_flow",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating 667'760k, investing -128'183k, financing -424'020k, total cash flow 115'557k",
      "golden_context": "Page 55:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\\\nYears Ended February 28 or 29\n(In thousands) 2021 2020 2019\nOPERATING ACTIVITIES:\nNet earnings $ 746,919 $ 888,433 $ 842,413\nAdjustments to reconcile net earnings to net cash provided by (used in)\noperating activities:\nDepreciation and amortization 242,156 215,811 182,247\nShare-based compensation expense 121,899 108,861 75,011\nProvision for loan losses 160,703 185,695 153,848\nProvision for cancellation reserves 72,235 89,272 63,937\nDeferred income tax (benefit) provision (35,787) (1,102) 2,300\nOther (1,409) 3,507 2,825\nNet (increase) decrease in:\nAccounts receivable, net (43,507) (51,240) (6,529)\nInventory (323,318) (326,961) (128,761)\nOther current assets (50) (19,843) 32,890\nAuto loans receivable, net (300,838) (1,308,919) (1,046,631)\nOther assets (12,862) 4,265 (7,230)\nNet increase (decrease) in:\nAccounts payable, accrued expenses and other\ncurrent liabilities and accrued income taxes 106,788 85,442 86,360\nOther liabilities (65,169) (109,827) (89,709)\nNET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 667,760 (236,606) 162,971\nINVESTING ACTIVITIES:\nCapital expenditures (164,536) (331,896) (304,636)\nProceeds from disposal of property and equipment 1,846 3 692\nProceeds from sale of business 29,911 — —\nPurchases of investments (3,729) (59,050) (6,147)\nSales and returns of investments 8,325 1,579 1,578\nNET CASH USED IN INVESTING ACTIVITIES (128,183) (389,364) (308,513)\nFINANCING ACTIVITIES:\n(Decrease) increase in short-term debt, net (40) (1,089) 1,002\nProceeds from issuances of long-term debt 1,754,300 6,277,600 4,314,500\nPayments on long-term debt (2,217,305) (6,199,793) (4,155,718)\nCash paid for debt issuance costs (18,296) (20,102) (17,063)\nPayments on finance lease obligations (7,424) (4,151) (894)\nIssuances of non-recourse notes payable 10,805,546 11,786,432 10,892,502\nPayments on non-recourse notes payable (10,654,011) (10,708,564) (10,001,712)\nRepurchase and retirement of common stock (229,938) (567,747) (904,726)\nEquity issuances 143,148 124,397 58,130\nNET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (424,020) 686,983 186,021\nIncrease in cash, cash equivalents, and restricted cash 115,557 61,013 40,479\nCash, cash equivalents, and restricted cash at beginning of year 656,390 595,377 554,898\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF\nYEAR $ 771,947 $ 656,390 $ 595,377\nRECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED\nBALANCE SHEETS\nCash and cash equivalents $ 132,319 $ 58,211 $ 46,938\nRestricted cash from collections on auto loans receivable 496,415 481,043 440,669\nRestricted cash included in other assets 143,213 117,136 107,770\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF\nYEAR $ 771,947 $ 656,390 $ 595,377",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_company_type",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the fiscal year ended February 28, 2021\nOR\n☐\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from ____ to ____\nCommission file number 001-31420\nCARMAX, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 54-1821055\n(State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)\n12800 Tuckahoe Creek Parkway\nRichmond, Virginia 23238\n(Address of Principal Executive Offices) (Zip Code)\n(804) 747-0422\nRegistrant's telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock KMX New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports); and (2) has been subject to such filing requirements for the past 90 days.\nYes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_key_financials",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "750k cars sold, 6bn CAF originations, ",
      "golden_context": "Page 2:\n\nThe Nation’s Largest Used Car Retailer\n+750K+\nCARS SOLD\nIN FY2021\n+425K+\nWHOLESALE CARS\nIN FY2021\n$6Bn\nCAF ORIGINATIONS\nIN FY2021\n27M\nAVERAGE MONTHLY\nWEB VISITS\n27K\nASSOCIATES\nNATIONWIDE\n24 HOUR\nTEST DRIVES\n30 DAY\nRETURNS1\n90 DAY\nWARRANTY2\n220\nlocations\nnationwide\nCARMAX MARKETS\n` ` _x0007_ _x0007_ Existing Television Markets\nas of April 20, 2021\n(Size of markers is based on\nnumber of CarMax stores in\neach market)\n1Up to 1,500 miles. 290 days or 4,000 miles limited warranty.\n2021 Letter to Shareholders\nDear Fellow Shareholders,\nA year ago, most of us couldn’t envision how these past twelve months would unfold. What has stood out\nto me is the strength, resiliency, and the way in which we have worked to take care of each other through\nthese unprecedented times. While this year was the most difficult operating environment we have ever\nseen, it also made clear that all the work we have done to achieve the digital transformation of our\nbusiness has placed CarMax in an incredibly strong position. We are seeing the benefits these investments\nare generating and are excited about the opportunities ahead of us.\nI am very proud of how our 27,000 associates supported each other, our customers, and our communities\nthroughout this past year, demonstrating once again that our people are key to our success. They\nrepeatedly rose to the occasion to deliver exceptional experiences for our customers and meet the needs\nof our business, while innovating for the future. It is a testament to the strength of our culture and the\nhard work of our associates at every level that we were recognized for the 17th consecutive year as one of\nFORTUNE Magazine’s 100 Best Companies to Work For®. We are also proud that this year we further\nadvanced our longstanding commitment to diversity and inclusion. It is our vision that everyone,\neverywhere has the same opportunity to reach their full potential.\nWell before the COVID-19 pandemic began, we started on a journey to create a seamless, world-class\nonline and in-store experience for consumers through our omni-channel strategy. This strategy leverages\nmany of our core strengths, including our differentiated scale, proprietary tech stack, extensive data\nassets, and our skilled and knowledgeable associates. This unmatched omni-channel experience supports\nCarMax’s leadership position as the largest and most customer-centric retailer of used autos.\nAt the start of fiscal 2021, the pandemic posed\nsignificant challenges to our business. Shelter-in-place\norders and occupancy restrictions limited operating\ncapacity at our stores and put pressure on sales.\nHowever, it also validated our digital transformation\nand gave us a unique opportunity to accelerate our\npace of innovation. During this time, we unveiled\nseveral notable tech-driven offerings for consumers,\nincluding expanding and enhancing our online shopping\ncapabilities to include a brand-new option for\ncontactless, curbside pickup. We also moved our entire\nwholesale auction business to virtual over the span of\njust a couple of weeks.\n“This unmatched omni-\nchannel experience\nsupports CarMax’s\nleadership position as\nthe largest and most\ncustomer-centric retailer\nof used autos.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_revenue",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Total net sales and operating revenues: 18950.1m",
      "golden_context": "Page 62:\n\n2. REVENUE\nWe recognize revenue when control of the good or service has been transferred to the customer, generally either at the time of\nsale or upon delivery to a customer. Our contracts have a fixed contract price and revenue is measured as the amount of\nconsideration we expect to receive in exchange for transferring goods or providing services. We collect sales taxes and other\ntaxes from customers on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and\nare not included in net sales and operating revenues or cost of sales. We generally expense sales commissions when incurred\nbecause the amortization period would have been less than one year. These costs are recorded within SG&A. We do not have\nany significant payment terms as payment is received at or shortly after the point of sale.\nDisaggregation of Revenue\nYears Ended February 28 or 29\n(In millions) 2021 2020 2019\nUsed vehicle sales $ 15,713.6 $ 17,169.5 $ 15,172.8\nWholesale vehicle sales 2,668.8 2,500.0 2,393.0\nOther sales and revenues:\nExtended protection plan revenues 412.8 437.4 382.5\nThird-party finance fees, net (39.6) (45.8) (43.4)\nService revenues 92.0 123.5 136.8\nOther 102.6 135.4 131.4\nTotal other sales and revenues 567.8 650.5 607.3\nTotal net sales and operating revenues $ 18,950.1 $ 20,320.0 $ 18,173.1\nUsed Vehicle Sales. Revenue from the sale of used vehicles is recognized upon transfer of control of the vehicle to the\ncustomer. As part of our customer service strategy, we guarantee the retail vehicles we sell with a 30-day/1,500 mile money-\nback guarantee. We record a reserve for estimated returns based on historical experience and trends. The reserve for estimated\nreturns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund\nliability recorded in accrued expenses and other current liabilities. We also guarantee the used vehicles we sell with a 90-\nday/4,000-mile limited warranty. These warranties are deemed assurance-type warranties and are accounted for as warranty\nobligations. See Note 17 for additional information on this warranty and its related obligation.\nWholesale Vehicle Sales. Wholesale vehicles are sold at our auctions, and revenue from the sale of these vehicles is\nrecognized upon transfer of control of the vehicle to the customer. Dealers also pay a fee to us based on the sale price of the\nvehicles they purchase. This fee is recognized as revenue at the time of sale. While we provide condition disclosures on each\nwholesale vehicle sold, the vehicles are subject to a limited right of return. We record a reserve for estimated returns based on\nhistorical experience and trends. The reserve for estimated returns is presented gross on the consolidated balance sheets, with a\nreturn asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.\nEPP Revenues. We also sell ESP and GAP products on behalf of unrelated third parties, who are primarily responsible for\nfulfilling the contract, to customers who purchase a retail vehicle. The ESPs we currently offer on all used vehicles provide\ncoverage up to 60 months (subject to mileage limitations), while GAP covers the customer for the term of their finance contract.\nWe recognize revenue, on a net basis, at the time of sale. We also record a reserve, or refund liability, for estimated contract\ncancellations. The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation\ncurves utilizing historical experience, recent trends and credit mix of the customer base. Our risk related to contract\ncancellations is limited to the revenue that we receive. Cancellations fluctuate depending on the volume of EPP sales, customer\nfinancing default or prepayment rates, and sh",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_revenue_growth",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Total net sales and operating revenues: 18950.1m, prior year 20320.0m",
      "golden_context": "Page 62:\n\n2. REVENUE\nWe recognize revenue when control of the good or service has been transferred to the customer, generally either at the time of\nsale or upon delivery to a customer. Our contracts have a fixed contract price and revenue is measured as the amount of\nconsideration we expect to receive in exchange for transferring goods or providing services. We collect sales taxes and other\ntaxes from customers on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and\nare not included in net sales and operating revenues or cost of sales. We generally expense sales commissions when incurred\nbecause the amortization period would have been less than one year. These costs are recorded within SG&A. We do not have\nany significant payment terms as payment is received at or shortly after the point of sale.\nDisaggregation of Revenue\nYears Ended February 28 or 29\n(In millions) 2021 2020 2019\nUsed vehicle sales $ 15,713.6 $ 17,169.5 $ 15,172.8\nWholesale vehicle sales 2,668.8 2,500.0 2,393.0\nOther sales and revenues:\nExtended protection plan revenues 412.8 437.4 382.5\nThird-party finance fees, net (39.6) (45.8) (43.4)\nService revenues 92.0 123.5 136.8\nOther 102.6 135.4 131.4\nTotal other sales and revenues 567.8 650.5 607.3\nTotal net sales and operating revenues $ 18,950.1 $ 20,320.0 $ 18,173.1\nUsed Vehicle Sales. Revenue from the sale of used vehicles is recognized upon transfer of control of the vehicle to the\ncustomer. As part of our customer service strategy, we guarantee the retail vehicles we sell with a 30-day/1,500 mile money-\nback guarantee. We record a reserve for estimated returns based on historical experience and trends. The reserve for estimated\nreturns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund\nliability recorded in accrued expenses and other current liabilities. We also guarantee the used vehicles we sell with a 90-\nday/4,000-mile limited warranty. These warranties are deemed assurance-type warranties and are accounted for as warranty\nobligations. See Note 17 for additional information on this warranty and its related obligation.\nWholesale Vehicle Sales. Wholesale vehicles are sold at our auctions, and revenue from the sale of these vehicles is\nrecognized upon transfer of control of the vehicle to the customer. Dealers also pay a fee to us based on the sale price of the\nvehicles they purchase. This fee is recognized as revenue at the time of sale. While we provide condition disclosures on each\nwholesale vehicle sold, the vehicles are subject to a limited right of return. We record a reserve for estimated returns based on\nhistorical experience and trends. The reserve for estimated returns is presented gross on the consolidated balance sheets, with a\nreturn asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.\nEPP Revenues. We also sell ESP and GAP products on behalf of unrelated third parties, who are primarily responsible for\nfulfilling the contract, to customers who purchase a retail vehicle. The ESPs we currently offer on all used vehicles provide\ncoverage up to 60 months (subject to mileage limitations), while GAP covers the customer for the term of their finance contract.\nWe recognize revenue, on a net basis, at the time of sale. We also record a reserve, or refund liability, for estimated contract\ncancellations. The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation\ncurves utilizing historical experience, recent trends and credit mix of the customer base. Our risk related to contract\ncancellations is limited to the revenue that we receive. Cancellations fluctuate depending on the volume of EPP sales, customer\nfinancing default or prepayment rates, and sh",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000205_segments",
      "report_id": "ID_000205",
      "company_name": "Carmax",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CarMax Sales Operations and CarMax Auto Finance",
      "golden_context": "Page 9:\n\nVID-19 continues to evolve. At the end of fiscal 2021, states and localities were in the midst of a\nvaccine distribution program; however, the ultimate duration and severity of the COVID-19 pandemic remain uncertain. We\ncontinue to actively monitor developments that may cause us to take further actions that alter our business operations. For\nfurther discussion of the impacts of COVID-19 on our business and fiscal 2021 results, refer to Item 7. Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations.\nCarMax Business\nWe operate in two reportable segments: CarMax Sales Operations and CarMax Auto Finance (“CAF”). Our CarMax Sales\nOperations segment consists of all aspects of our auto merchandising and service operations, excluding financing provided by\nCAF. Our CAF segment consists solely of our own finance operation that provides financing to customers buying retail\nvehicles from CarMax.\nCarMax Sales Operations. Our CarMax Sales Operations segment sells used vehicles, purchases used vehicles from customers\nand other sources, sells related products and services, and arranges financing options for customers, all for competitive, no-\nhaggle prices. We enable our customers to separately evaluate each component of the sales process based on comprehensive\ninformation about the terms and associated prices of each component. Customers can accept or decline any individual element\nof the offer without affecting the price or terms of any other component of the of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_cash_flow",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flows -2'549'450k\nInvesting:             -523'745k\nFinancing:            3'104'866k",
      "golden_context": "Page 42:\n\n obligations and commitments are due within the next three years.\nWe currently target an adjusted debt-to-total capital ratio in a range of 35% to 45%. At the end of fiscal 2022, our adjusted debt\nto capital ratio, net of cash on hand, was at the higher end of our targeted range for the year. In calculating this ratio, we utilize\ntotal debt excluding non-recourse notes payable, finance lease liabilities, a multiple of eight times rent expense and total\nshareholders’ equity. Generally, we expect to use our revolving credit facility and other financing sources, together with stock\nrepurchases, to maintain this targeted ratio; however, in any period, we may be outside this range due to seasonal, market,\nstrategic or other factors.\nOperating Activities. During fiscal 2022, net cash used in operating activities totaled $2.55 billion, compared with net cash\nprovided by operating activities of $667.8 million in fiscal 2021. Our operating cash flows are significantly impacted by\nchanges in auto loans receivable, which increased $1.94 billion in fiscal 2022 compared with $300.8 million in fiscal 2021.\nThe majority of the changes in auto loans receivable are accompanied by changes in non-recourse notes payable, which are\nissued to fund auto loans originated by CAF. Net issuances of non-recourse notes payable were $1.70 billion in fiscal 2022\ncompared with $151.5 million in fiscal 2021 and are separately reflected as cash from financing activities. Due to the\npresentation differences between auto loans receivable and non-recourse notes payable on the consolidated statements of cash\nflows, fluctuations in these amounts can have a significant impact on our operating and financing cash flows without affecting\nour overall liquidity, working capital or cash flows.\nAs of February 28, 2022, total inventory was $5.12 billion, representing an increase of $1.97 billion, or 62.3%, compared with\nthe balance as of the start of the fiscal year. The increase was primarily due to an increase in the average carrying cost of\ninventory as a result of higher acquisition costs, driven by market appreciation, as well as an increase in vehicle units. Saleable\ninventory levels have been below our targets throughout the current fiscal year as a result of temporary production slowdowns\nexperienced in the fourth quarter of fiscal 2021 and strong demand experienced during fiscal 2022. We made substantial\nprogress in building our inventory position during the second quarter of fiscal 2022, and we achieved sequential growth in\nsaleable inventory each month during the third quarter. In the fourth quarter of fiscal 2022, we continued to build inventory for\ntax refund season, which typically has stronger demand. As of February 28, 2022, we believe our inventory is well positioned\nto support anticipated sales in the first quarter of fiscal 2023.\nThe change in net cash (used in) provided by operating activities for fiscal 2022 compared with fiscal 2021 reflected the\nchanges in auto loans receivable and inventory, as discussed above, as well as accounts receivable, driven by increased sales\nand timing, partially offset by an increase in net earnings when excluding non-cash expenses, which include depreciation and\namortization, share-based compensation expense and the provisions for loan losses and cancellation reserves. Our results for\nfiscal 2021 were significantly impacted by COVID-19, primarily during the first quarter. In response, we took proactive\nmeasures to strengthen our liquidity position, including reducing our inventory levels and aligning our costs to lower sales\nvolume.\nInvesting Activities. Net cash used in investing activities totaled $523.7 million in fiscal 2022 compared with $128.2 million in\nfiscal 2021. For fiscal 2022, this included $241.6 million in cash paid in connection with the Edmunds acquisition, net of cash\nacquired. Capital expenditures were $308.5 million in fiscal 2022 versus $164.5 million in fiscal 2021. Capital expenditures\nprimarily included store construction costs and store remodeling expenses, as well as investments in technology. We maintain a\nmulti-year pipeline of sites to support our store growth\n\nPage 50:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\\\nYears Ended February 28 or 29\n(In thousands) 2022 2021 2020\nOPERATING ACTIVITIES:\nNet earnings $ 1,151,297 $ 746,919 $ 888,433\nAdjustments to reconcile net earnings to net cash (used in) provided by\noperating activities:\nDepreciation and amortization 273,188 242,156 215,811\nShare-based compensation expense 109,197 121,899 108,861\nProvision for loan losses 141,692 160,703 185,695\nProvision for cancellation reserves 114,928 72,235 89,272\nDeferred income tax provision (benefit) 15,000 (35,787) (1,102)\nOther (19,139) (1,409) 3,507\nNet (increase) decrease in:\nAccounts receivable, net (288,195) (43,507) (51,240)\nInventory (1,967,432) (323,318) (326,961)\nOther current assets (80,790) (50) (19,843)\nAuto loans receivable, net (1,941,574) (300,838) (1,308,919)\nOther assets (32,272) (12,862) 4,265\nNet increase (decrease) in:\nAccounts payable, accrued expenses and other\ncurrent liabilities and accrued income taxes 175,106 106,788 85,442\nOther liabilities (200,456) (65,169) (109,827)\nNET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (2,549,450) 667,760 (236,606)\nINVESTING ACTIVITIES:\nCapital expenditures (308,534) (164,536) (331,896)\nProceeds from disposal of property and equipment 260 1,846 3\nProceeds from sale of business 12,298 29,911 —\nPurchases of investments (24,614) (3,729) (59,050)\nSales and returns of investments 38,408 8,325 1,579\nBusiness acquisition, net of cash acquired (241,563) — —\nNET CASH USED IN INVESTING ACTIVITIES (523,745) (128,183) (389,364)\nFINANCING ACTIVITIES:\nDecrease in short-term debt, net — (40) (1,089)\nProceeds from issuances of long-term debt 7,684,400 1,754,300 6,277,600\nPayments on long-term debt (5,752,796) (2,217,305) (6,199,793)\nCash paid for debt issuance costs (20,132) (18,296) (20,102)\nPayments on finance lease obligations (11,923) (7,424) (4,151)\nIssuances of non-recourse notes payable 14,328,298 10,805,546 11,786,432\nPayments on non-recourse notes payable (12,626,308) (10,654,011) (10,708,564)\nRepurchase and retirement of common stock (576,478) (229,938) (567,747)\nEquity issuances 79,805 143,148 124,397\nNET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 3,104,866 (424,020) 686,983\nIncrease in cash, cash equivalents, and restricted cash 31,671 115,557 61,013\nCash, cash equivalents, and restricted cash at beginning of year 771,947 656,390 595,377\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF\nYEAR $ 803,618 $ 771,947 $ 656,390\nRECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED\nBALANCE SHEETS\nCash and cash equivalents $ 102,716 $ 132,319 $ 58,211\nRestricted cash from collections on auto loans receivable 548,099 496,415 481,043\nRestricted cash included in other assets 152,803 143,213 117,136\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF\nYEAR $ 803,618 $ 771,947 $ 656,390\nSee accompanying notes to consolidated financial statements.\n50\n\n\nPage 89:\n\nupplemental cash flow information related to leases was as follows:\nYears Ended February 28 or 29\n(In thousands) 2022 2021 2020\nCash paid for amounts included in the measurement of lease liabilities:\nOperating cash flows from operating leases Operating cash flows from finance leases Financing cash flows from finance leases $ 72,371 $ 56,762 $ 57,145\n$ 11,194 $ 8,517 $ 4,027\n$ 11,923 $ 7,424 $ 4,151\nLease assets obtained in exchange for lease obligations:\nOperating leases Finance leases $ 50,911 $ 14,010 $ 27,136\n$ 32,052 $ 45,857 $ 53,111\nMaturities of lease liabilities were as follows:\n(In thousands) As of February 28, 2022\nOperating Leases (1) Finance Leases (1)\nFiscal 2023 $ 70,500 $ 26,474\nFiscal 2024 69,983 32,059\nFiscal 2025 69,475 28,830\nFiscal 2026 63,946 29,778\nFiscal 2027 57,050 25,427\nThereafter 571,431 191,876\nTotal lease payments 902,385 334,444\nLess: interest (334,919) (178,975)\nPresent value of lease liabilities $ 567,466 $ 155,469\n(1) Lease payments exclude $43.9 million of legally binding minimum lease payments for",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_company_type",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the fiscal year ended February 28, 2022\nOR\n☐\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from ____ to ____\nCommission file number 001-31420\nCARMAX, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 54-1821055\n(State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)\n12800 Tuckahoe Creek Parkway\nRichmond, Virginia 23238\n(Address of Principal Executive Offices) (Zip Code)\n(804) 747-0422\nRegistrant's telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock KMX New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed b",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_key_financials",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "924k cars retailed, 706k cars wholesaled, 9.4bn CAF originations",
      "golden_context": "Page 2:\n\nThe Nation’s Largest Used Car Retailer\n924K\nCARS RETAILED\nIN FY22\n706K\nCARS WHOLESALED\nIN FY22\n$9.4B\nCAF ORIGINATIONS\nIN FY22\n1.4B\nAPPRAISAL\nPURCHASES\nIN FY22\n33M\nAVERAGE MONTHLY\nWEB VISITS\n79%\nU.S. POPULATION\nCOVERAGE AT\n2/28/22\nACQUIRED\nEDMUNDS\n4.0%\nNATIONWIDE AGE 0-10\nMARKET SHARE\nIN CY21\n230\nLOCATIONS\nNATIONWIDE\nCARMAX MARKETS\n●\n_x0007_ _x0007_ Existing Television Markets",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_revenue",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Total net sales and operating revenues 31900.4m",
      "golden_context": "Page 63:\n\nREVENUE\nWe recognize revenue when control of the good or service has been transferred to the customer, generally either at the time of\nsale or upon delivery to a customer. Our contracts have a fixed contract price and revenue is measured as the amount of\nconsideration we expect to receive in exchange for transferring goods or providing services. We collect sales taxes and other\ntaxes from customers on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and\nare not included in net sales and operating revenues or cost of sales. We generally expense sales commissions when incurred\nbecause the amortization period would have been less than one year. These costs are recorded within selling, general and\nadministrative expenses. We do not have any significant payment terms as payment is received at or shortly after the point of\nsale.\nDisaggregation of Revenue\nYears Ended February 28 or 29\n(In millions) 2022 2021 2020\nUsed vehicle sales $ 24,437.1 $ 15,713.6 $ 17,169.5\nWholesale vehicle sales 6,763.8 2,668.8 2,500.0\nOther sales and revenues:\nExtended protection plan revenues 478.4 412.8 437.4\nThird-party finance income/(fees), net 1.5 (39.6) (45.8)\nAdvertising & subscription revenues (1) 101.8 — —\nService revenues 81.8 92.0 123.5\nOther 36.0 102.6 135.4\nTotal other sales and revenues 699.5 567.8 650.5\nTotal net sales and operating revenues $ 31,900.4 $ 18,950.1 $ 20,320.0\n(1) Excludes intersegment sales and operating revenues that have been eliminated in consolidation. See Note 20 for further details.\nUsed Vehicle Sales. Revenue from the sale of used vehicles is recognized upon transfer of control of the vehicle to the\ncustomer. As part of our customer service strategy, we guarantee the retail vehicles we sell with a 30-day/1,500 mile money-\nback guarantee. We record a reserve for estimated returns based on historical experience and trends. The reserve for estimated\nreturns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund\nliability recorded in accrued expenses and other current liabilities. We also guarantee the used vehicles we sell with a 90-\nday/4,000-mile limited warranty. These warranties are deemed assurance-type warranties and are accounted for as warranty\nobligations. See Note 19 for additional information on this warranty and its related obligation.\nWholesale Vehicle Sales. Wholesale vehicles are sold at our auctions, and revenue from the sale of these vehicles is\nrecognized upon transfer of control of the vehicle to the customer. Dealers also pay a fee to us based on the sale price of the\nvehicles they purchase. This fee is recognized as revenue at the time of sale. While we provide condition disclosures on each\nwholesale vehicle sold, the vehicles are subject to a limited right of return. We record a reserve for estimated returns based on\nhistorical experience and trends. The reserve for estimated returns is presented gross on the consolidated balance sheets, with a\nreturn asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.\nEPP Revenues. We also sell ESP and GAP products on behalf of unrelated third parties, who are primarily responsible for\nfulfilling the contract, to customers who purchase a retail vehicle. The ESPs we currently offer on all used vehicles provide\ncoverage up to 60 months (subject to mileage limitations), while GAP covers the customer for the term of their finance contract.\nWe recognize revenue, on a net basis, at the time of sale. We also record a reserve, or refund liability, for estimated contract\ncancellations. The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation\ncurves utilizing historical experience, recent trends and credit mix of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_revenue_growth",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Total net sales and operating revenues 31900.4m, prior year 18950.1m",
      "golden_context": "Page 63:\n\nREVENUE\nWe recognize revenue when control of the good or service has been transferred to the customer, generally either at the time of\nsale or upon delivery to a customer. Our contracts have a fixed contract price and revenue is measured as the amount of\nconsideration we expect to receive in exchange for transferring goods or providing services. We collect sales taxes and other\ntaxes from customers on behalf of governmental authorities at the time of sale. These taxes are accounted for on a net basis and\nare not included in net sales and operating revenues or cost of sales. We generally expense sales commissions when incurred\nbecause the amortization period would have been less than one year. These costs are recorded within selling, general and\nadministrative expenses. We do not have any significant payment terms as payment is received at or shortly after the point of\nsale.\nDisaggregation of Revenue\nYears Ended February 28 or 29\n(In millions) 2022 2021 2020\nUsed vehicle sales $ 24,437.1 $ 15,713.6 $ 17,169.5\nWholesale vehicle sales 6,763.8 2,668.8 2,500.0\nOther sales and revenues:\nExtended protection plan revenues 478.4 412.8 437.4\nThird-party finance income/(fees), net 1.5 (39.6) (45.8)\nAdvertising & subscription revenues (1) 101.8 — —\nService revenues 81.8 92.0 123.5\nOther 36.0 102.6 135.4\nTotal other sales and revenues 699.5 567.8 650.5\nTotal net sales and operating revenues $ 31,900.4 $ 18,950.1 $ 20,320.0\n(1) Excludes intersegment sales and operating revenues that have been eliminated in consolidation. See Note 20 for further details.\nUsed Vehicle Sales. Revenue from the sale of used vehicles is recognized upon transfer of control of the vehicle to the\ncustomer. As part of our customer service strategy, we guarantee the retail vehicles we sell with a 30-day/1,500 mile money-\nback guarantee. We record a reserve for estimated returns based on historical experience and trends. The reserve for estimated\nreturns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund\nliability recorded in accrued expenses and other current liabilities. We also guarantee the used vehicles we sell with a 90-\nday/4,000-mile limited warranty. These warranties are deemed assurance-type warranties and are accounted for as warranty\nobligations. See Note 19 for additional information on this warranty and its related obligation.\nWholesale Vehicle Sales. Wholesale vehicles are sold at our auctions, and revenue from the sale of these vehicles is\nrecognized upon transfer of control of the vehicle to the customer. Dealers also pay a fee to us based on the sale price of the\nvehicles they purchase. This fee is recognized as revenue at the time of sale. While we provide condition disclosures on each\nwholesale vehicle sold, the vehicles are subject to a limited right of return. We record a reserve for estimated returns based on\nhistorical experience and trends. The reserve for estimated returns is presented gross on the consolidated balance sheets, with a\nreturn asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.\nEPP Revenues. We also sell ESP and GAP products on behalf of unrelated third parties, who are primarily responsible for\nfulfilling the contract, to customers who purchase a retail vehicle. The ESPs we currently offer on all used vehicles provide\ncoverage up to 60 months (subject to mileage limitations), while GAP covers the customer for the term of their finance contract.\nWe recognize revenue, on a net basis, at the time of sale. We also record a reserve, or refund liability, for estimated contract\ncancellations. The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation\ncurves utilizing historical experience, recent trends and credit mix of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000206_segments",
      "report_id": "ID_000206",
      "company_name": "Carmax",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CarMax Sales Operations and CarMax Auto Finance",
      "golden_context": "Page 9:\n\nith the opening of our first CarMax store in Richmond, Virginia. On October 1, 2002, the CarMax\nbusiness was separated from Circuit City through a tax-free transaction, becoming an independent, publicly traded\ncompany. As of February 28, 2022, we operated 230 used car stores in 107 U.S. television markets. Our home office is located\nat 12800 Tuckahoe Creek Parkway, Richmond, Virginia.\nOn June 1, 2021, we completed the acquisition of Edmunds Holding Company (“Edmunds”), one of the most well established\nand trusted online guides for automotive information and a recognized leader in digital car shopping innovations. With this\nacquisition, CarMax has enhanced its digital capabilities and further strengthened its role and reach across the used auto\necosystem while adding exceptional technology and creative talent.\nImpact of COVID-19\nIn March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic. Throughout fiscal\n2021, many U.S. states and localities had shelter-in-place orders and occupancy restrictions, impacting the operations of our\nstores and consumer demand. As a result, our fiscal 2021 results were significantly impacted by the COVID-19 pandemic,\nprimarily during the first quarter.\nAlthough the effects of COVID-19 seem to have subsided, uncertainty continues. During fiscal 2022, states and localities\nconducted vaccine distribution programs and eased certain state-mandated restrictions; however, the continued spread and\nimpact of COVID-19 persists, particularly as it relates to the emergence of new variants of the virus. We continue to actively\nmonitor developments that may cause us to take further actions that alter our business operations as may be required by federal,\nstate or local authorities or that we determine are in the best interests of our associates, customers, communities and\nshareholders. For further discussion of the impacts of COVID-19 on our business and fiscal 2022 results, refer to Item 7.\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nCarMax Business\nWe operate in two reportable segments: CarMax Sales Operations and CarMax Auto Finance (“CAF”). Our CarMax Sales\nOperations segment consists of all aspects of our auto merchandising and service operations, excluding financing provided by\nCAF. Our CAF segment consists solely of our own finance operation that provides financing to customers buying retail\nvehicles from CarMax. Our consolidated financial statements include the financial results related to our Edmunds business,\nwhich does not meet the definition of a reportable segment.\nCarMax Sales Operations. Our CarMax Sales Operations segment sells used vehicles, purchases used vehicles from customers\nand other sources, sells related products and services, and arranges financing options for customers, all for competitive, no-\nhaggle prices. We enable our customers to separately evaluate each component of the sales process based on comprehensive\ninformation about the terms and associated prices of each component. Customers can accept or decline any individual element\nof the offer without affecting the price or terms of any other component of the offer.\n5\nPurchasing a Vehicle:\nThe vehicle purchase process at CarMax differs fundamentally from the traditional auto retai",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_cash_flow",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flows: 1283332k, investing: -425766k, financing -710180k, total cash flow 147386k",
      "golden_context": "Page 51:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands) Years Ended February 28\n2023 2022 2021\nOPERATING ACTIVITIES:\nNet earnings $ 484,762 $ 1,151,297 $ 746,919\nAdjustments to reconcile net earnings to net cash provided by (used in) operating activities:\nDepreciation and amortization 265,224 273,188 242,156\nShare-based compensation expense 85,592 109,197 121,899\nProvision for loan losses 317,013 141,692 160,703\nProvision for cancellation reserves 98,137 114,928 72,235\nDeferred income tax (benefit) provision (6,550) 15,000 (35,787)\nOther 4,773 (19,139) (1,409)\nNet decrease (increase) in:\nAccounts receivable, net 262,201 (288,195) (43,507)\nInventory 1,398,427 (1,967,432) (323,318)\nOther current assets 103,222 (80,790) (50)\nAuto loans receivable, net (1,369,103) (1,941,574) (300,838)\nOther assets (52,286) (32,272) (12,862)\nNet (decrease) increase in:\nAccounts payable, accrued expenses and other\ncurrent liabilities and accrued income taxes (197,687) 175,106 106,788\nOther liabilities (110,393) (200,456) (65,169)\nNET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,283,332 (2,549,450) 667,760\nINVESTING ACTIVITIES:\nCapital expenditures (422,710) (308,534) (164,536)\nProceeds from disposal of property and equipment 5,190 260 1,846\nProceeds from sale of business— 12,298 29,911\nPurchases of investments (12,526) (24,614) (3,729)\nSales and returns of investments 4,280 38,408 8,325\nBusiness acquisition, net of cash acquired— (241,563) —\nNET CASH USED IN INVESTING ACTIVITIES (425,766) (523,745) (128,183)\nFINANCING ACTIVITIES:\nDecrease in short-term debt, net— — (40)\nProceeds from issuances of long-term debt 3,020,700 7,684,400 1,754,300\nPayments on long-term debt (4,275,353) (5,752,796) (2,217,305)\nCash paid for debt issuance costs (19,781) (20,132) (18,296)\nPayments on finance lease obligations (12,200) (11,923) (7,424)\nIssuances of non-recourse notes payable 14,333,896 14,328,298 10,805,546\nPayments on non-recourse notes payable (13,440,603) (12,626,308) (10,654,011)\nRepurchase and retirement of common stock (333,932) (576,478) (229,938)\nEquity issuances 17,093 79,805 143,148\nNET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (710,180) 3,104,866 (424,020)\nIncrease in cash, cash equivalents, and restricted cash 147,386 31,671 115,557\nCash, cash equivalents, and restricted cash at beginning of year 803,618 771,947 656,390\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR $ 951,004 $ 803,618 $ 771,947\nRECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS\nCash and cash equivalents $ 314,758 $ 102,716 $ 132,319\nRestricted cash from collections on auto loans receivable 470,889 548,099 496,415\nRestricted cash included in other assets 165,357 152,803 143,213\nCASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR $ 951,004 $ 803,618 $ 771,947\n\\\nSee accompanying notes to consolidated financial statements.\n49",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_company_type",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended February 28, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n____\n____\nCommission file number 001-31420\nCARMAX, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 54-1821055\n(State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)\n12800 Tuckahoe Creek Parkway\nRichmond, Virginia 23238\n(Address of Principal Executive Offices) (Zip Code)\n(804) 747-0422\nRegistrant's telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock KMX New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing\nrequirements for the past 90 days.\nYes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_key_financials",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net earnings 484.8m, net earnings per diluted share 3.03",
      "golden_context": "Page 28:\n\n Profitability\nThe sources of revenue and gross profit from the CarMax Sales Operations segment and other non-reportable segments for fiscal 2023 are as follows:\nNet Sales and\nOperating Revenues\nGross Profit\n(1)\nA high-level summary of our financial results for fiscal 2023 as compared to fiscal 2022 is as follows :\n(Dollars in millions except per share or per unit data) 2023 Change from 2022\nIncome statement information\nNet sales and operating revenues $ 29,684.9 (6.9)%\nGross profit $ 2,800.2 (14.8)%\nCAF income $ 663.4 (17.2)%\nSelling, general and administrative expenses $ 2,487.4 7.0 %\nNet earnings $ 484.8 (57.9)%\nUnit sales information\nUsed unit sales 807,823 (12.6)%\nChange in used unit sales in comparable stores (14.3)% N/A\nWholesale unit sales 585,071 (17.2)%\nPer unit information\nUsed gross profit per unit $ 2,288 3.8 %\nWholesale gross profit per unit $ 1,008 (6.9)%\nSG&A as a % of gross profit 88.8 % 18.1 %\nPer share information\nNet earnings per diluted share $ 3.03 (56.5)%\nOnline sales metrics\nOnline retail sales (2)\n12 % 3 %\nOmni sales (3)\n53 % (3)%\n(4)\nRevenue from online transactions 30 % 2 %\n(1)\n(2)\n(3)\n(4)\nWhere applicable, amounts are net of intercompany eliminations.\nAn online retail sale is defined as a sale where the customer completes all four of the following activities remotely: reserving the vehicle; financing the vehicle, if\nneeded; trading-in or opting out of a trade-in; and creating an online sales order.\nAn omni sale is defined as a sale where customers complete at least one of the four activities listed above online.\nRevenue from online transactions is defined as revenue from retail sales that qualify as an online retail sale, as well as any related EPP and third-party finance\ncontribution, wholesale sales where the winning bid was taken from an online bid and all ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_revenue",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Total net sales and operating revenues 29684.9m",
      "golden_context": "Page 32:\n\nlude the uncertainty of the impacts of recent economic trends on customer behavior. The change in the allowance for loan losses is\nrecognized through an adjustment to the provision for loan losses.\nDetermining the appropriateness of the allowance for loan losses requires management to exercise judgment about matters that are inherently uncertain,\nincluding the timing and distribution of net losses that could materially affect the allowance for loan losses and, therefore, net earnings. To the extent that\nactual performance differs from our estimates, additional provision for credit losses may be required that would reduce net earnings. A 10% change in\nthe estimated loss rates would have changed the allowance for loan losses by approximately $50.7 million as of February 28, 2023.\nSee Notes 1(H) and 5 for additional information on the allowance for loan losses.\nRESULTS OF OPERATIONS – CARMAX SALES OPERATIONS AND OTHER NON-REPORTABLE SEGMENTS\nNET SALES AND OPERATING REVENUES\nYears Ended February 28\n(In millions) 2023 Change 2022 Change 2021\nUsed vehicle sales $ 23,034.3 (5.7)% $ 24,437.1 55.5 % $ 15,713.6\nWholesale vehicle sales 5,989.8 (11.4)% 6,763.8 153.4 % 2,668.8\nOther sales and revenues:\nExtended protection plan revenues 422.3 (11.7)% 478.4 15.9 % 412.8\nThird-party finance income/(fees), net 7.0 351.7 % 1.5 103.9 % (39.6)\n(1)\nAdvertising & subscription revenues 133.3 30.9 % 101.8 100.0 % —\nOther 98.2 (16.5)% 117.8 (39.5)% 194.6\nTotal other sales and revenues 660.8 (5.5)% 699.5 23.2 % 567.8\nTotal net sales and operating revenues $ 29,684.9 (6.9)% $ 31,900.4 68.3 % $ 18,950.1\n(1)\nUNIT SALES\nExcludes intersegment sales and operating revenues that have been eliminated in consolidation. See Note 20 for further details.\nYears Ended February 28\n2023 Change 2022 Change 2021\nUsed vehicles 807,823 (12.6)% 924,338 22.9 % 751,862\nWholesale vehicles 585,071 (17.2)% 706,212 65.7 % 426,268\nAVERAGE SELLING PRICES\nYears Ended February 28\n2023 Change 2022 Change 2021\nUsed vehicles $ 28,251 7.8 % $ 26,207 26.7 % $ 20,690\nWholesale vehicles $ 9,872 6.9 % $ 9,238 55.1 % $ 5,957\nCOMPARABLE STORE USED VEHICLE SALES CHANGES\nUsed vehicle units Used vehicle revenues Years Ended February 28\n(1)\n2023 2022 2021\n(14.3)% 21.9 % (11.7)%\n(7.6)% 54.3 % (10.5)%\n( 1 )\nStores are added to the comparable store base beginning in their fourteenth full month of operation. We do not remove renovated stores from our comparable\nstore base. Comparable store calculations include ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_revenue_growth",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Total net sales and operating revenues 29684.9m, prior year 31900.4m (decline of 6.9%)",
      "golden_context": "Page 32:\n\nlude the uncertainty of the impacts of recent economic trends on customer behavior. The change in the allowance for loan losses is\nrecognized through an adjustment to the provision for loan losses.\nDetermining the appropriateness of the allowance for loan losses requires management to exercise judgment about matters that are inherently uncertain,\nincluding the timing and distribution of net losses that could materially affect the allowance for loan losses and, therefore, net earnings. To the extent that\nactual performance differs from our estimates, additional provision for credit losses may be required that would reduce net earnings. A 10% change in\nthe estimated loss rates would have changed the allowance for loan losses by approximately $50.7 million as of February 28, 2023.\nSee Notes 1(H) and 5 for additional information on the allowance for loan losses.\nRESULTS OF OPERATIONS – CARMAX SALES OPERATIONS AND OTHER NON-REPORTABLE SEGMENTS\nNET SALES AND OPERATING REVENUES\nYears Ended February 28\n(In millions) 2023 Change 2022 Change 2021\nUsed vehicle sales $ 23,034.3 (5.7)% $ 24,437.1 55.5 % $ 15,713.6\nWholesale vehicle sales 5,989.8 (11.4)% 6,763.8 153.4 % 2,668.8\nOther sales and revenues:\nExtended protection plan revenues 422.3 (11.7)% 478.4 15.9 % 412.8\nThird-party finance income/(fees), net 7.0 351.7 % 1.5 103.9 % (39.6)\n(1)\nAdvertising & subscription revenues 133.3 30.9 % 101.8 100.0 % —\nOther 98.2 (16.5)% 117.8 (39.5)% 194.6\nTotal other sales and revenues 660.8 (5.5)% 699.5 23.2 % 567.8\nTotal net sales and operating revenues $ 29,684.9 (6.9)% $ 31,900.4 68.3 % $ 18,950.1\n(1)\nUNIT SALES\nExcludes intersegment sales and operating revenues that have been eliminated in consolidation. See Note 20 for further details.\nYears Ended February 28\n2023 Change 2022 Change 2021\nUsed vehicles 807,823 (12.6)% 924,338 22.9 % 751,862\nWholesale vehicles 585,071 (17.2)% 706,212 65.7 % 426,268\nAVERAGE SELLING PRICES\nYears Ended February 28\n2023 Change 2022 Change 2021\nUsed vehicles $ 28,251 7.8 % $ 26,207 26.7 % $ 20,690\nWholesale vehicles $ 9,872 6.9 % $ 9,238 55.1 % $ 5,957\nCOMPARABLE STORE USED VEHICLE SALES CHANGES\nUsed vehicle units Used vehicle revenues Years Ended February 28\n(1)\n2023 2022 2021\n(14.3)% 21.9 % (11.7)%\n(7.6)% 54.3 % (10.5)%\n( 1 )\nStores are added to the comparable store base beginning in their fourteenth full month of operation. We do not remove renovated stores from our comparable\nstore base. Comparable store calculations include ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000207_segments",
      "report_id": "ID_000207",
      "company_name": "Carmax",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CarMax Sales Operations and CarMax Auto Finance (CAF)",
      "golden_context": "Page 7:\n\nound\nCarMax, Inc. delivers an unrivaled customer experience by offering a broad selection of quality used vehicles and related products and services at\ncompetitive, no-haggle prices using a customer-friendly sales process. We are the nation’s largest retailer of used cars, and we sold 807,823 used\nvehicles at retail during the fiscal year ended February 28, 2023. We are also one of the nation’s largest operators of wholesale vehicle auctions, with\n585,071 vehicles sold during fiscal 2023, and one of the nation’s largest providers of used vehicle financing, servicing approximately 1.1 million customer\naccounts in our $16.77 billion portfolio of managed receivables as of February 28, 2023. Our omni-channel platform, which gives us the largest\naddressable market in the used car industry, empowers our retail customers to buy a car on their terms – online, in-store or an integrated combination of\nboth.\nCarMax was incorporated under the laws of the Commonwealth of Virginia in 1996. CarMax, Inc. is a holding company and our operations are\nconducted through our subsidiaries. Under the ownership of Circuit City Stores, Inc. (“Circuit City”), we began operations in 1993 with the opening of our\nfirst CarMax store in Richmond, Virginia. On October 1, 2002, the CarMax business was separated from Circuit City through a tax-free transaction,\nbecoming an independent, publicly traded company. As of February 28, 2023, we operated 240 used car stores in 109 U.S. television markets. Our\nhome office is located at 12800 Tuckahoe Creek Parkway, Richmond, Virginia.\nOn June 1, 2021, we completed the acquisition of Edmunds Holding Company (“Edmunds”), one of the most well established and trusted online guides\nfor automotive information and a recognized leader in digital car shopping innovations. With this acquisition, CarMax has enhanced its digital capabilities\nand further strengthened its role and reach across the used auto ecosystem while adding exceptional technology and creative talent.\nCarMax Business\nWe operate in two reportable segments: CarMax Sales Operations and CarMax Auto Finance (“CAF”). Our CarMax Sales Operations segment consists\nof all aspects of our auto merchandising and service operations, excluding financing provided by CAF. Our CAF segment consists solely of our own\nfinance operation that provides financing to customers buying retail vehicles from CarMax. Our consolidated financial statements include the financial\nresults related to our Edmunds business, which does not meet the definition of a reportable segment.\nCarMax Sales Operations. Our CarMax Sales Operations segment sells used vehicles, purchases used vehicles from customers and other sources,\nsells related products and services, and arranges financing options for customers, all for competitive, no-haggle prices. We enable our customers to\nseparately evaluate each component of the sales process based on comprehensive information about the terms and associated prices of each\ncomponent. Customers can accept or decline any individual element of the offer without affecting the price or terms of any other component of the offer.\nPurchasing a Vehicle:\nThe vehicle purchase process at CarMax differs fundamentally from the traditional auto retail experience. Our no-haggle pricing removes a frequent\ncustomer frustration with the purchase process and allows customers to shop for vehicles the same way they shop for other consumer products. Our\nomni-channel platform further empowers our customers to buy a car on their own terms – online, in-store, or an integrated combination of both.\nOur omni-channel platform provides multiple ways for our customers to interact with us, including completely online. A customer may interact with our\ncustomer experience consultants via phone, text messages or chat. These employees are paid a fixed hourly rate and receive incentive bonuses based\non their ability to effectively progress the customer through their car-buying journey. Customers may also interact in-person with our sales consultants\nwho are generally paid commissions on a fixed dollars-per-unit standard, thereby earning the same commission regardless of the vehicle being sold, the\namount a customer finances or the related interest rate. These pay structures align our associates’ interests with those of our customers, in contrast to\nother dealerships where sales and finance personnel may receive higher commissions for negotiating higher prices and interest rates, or steering\ncustomers to vehicles with higher gross profits.\nWe recondition every used vehicle we retail to meet our CarMax Quality Certified standards, and each vehicle must pass an inspection before being\noffered for sale. We stand behind every used vehicle we sell with our Love Your Car Guarantee. This guarantee gives customers the ability to take 24-\nhour test drives before committing to purchase as well as provides a 30-day/1,500 mile money-back guarantee and a 90-day/4,000-mile limited warranty.\nOur CarMax Quality Certified standards were developed internally by CarMax and are not affiliated with any third party or original equipment\nmanufacturer prog",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_cash_flow",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1468.1m, investing: -340.3m, financing activities: -1609.6",
      "golden_context": "Page 43:\n\nConagra Brands, Inc. and Subsidiaries\nConsolidated Statements of Cash Flows\n(in millions)\nFor the Fiscal Years Ended May\n2021 2020 2019\n$ 1,300.9 $ 841.8 $ 678.4\nLoss from discontinued operations — — (1.9 )\n1,300.9 841.8 680.3\nDepreciation and amortization 387.7 388.9 333.0\nAsset impairment charges 95.5 259.9 93.8\nLoss (gain) on divestitures (65.5 ) 2.2 (69.4 )\nLoss on extinguishment of debt 68.7 1.0 5.5\nSignificant litigation accruals — — (39.3 )\nProceeds from the settlement of interest rate swaps — — 47.5\nNovation of a legacy guarantee (27.3 )\nEquity method investment earnings in excess of distributions (27.9 ) (20.8 )\nStock-settled share-based payments expense 63.9 59.2 33.7\nContributions to pension plans (27.6 ) (17.5 ) (14.7 )\nPension expense (benefit) (38.3 ) 5.9 (22.7 )\nOther items 9.1 10.3 12.3\nReceivables 66.1 (43.8 ) (69.1 )\n78.0\nAccounts payable 141.4 234.4 38.2\nOther accrued liabilities (60.2 ) (66.8 ) (9.4 )\nDeferred employer payroll taxes 33.9 — —\nCash flows from operating activities:\nNet income Income from continuing operations Adjustments to reconcile income from continuing operations to net cash flows from operating\nactivities:\nChange in operating assets and liabilities excluding effects of business acquisitions and\ndispositions:\nInventories Deferred income taxes and income taxes payable, net Prepaid expenses and other current assets Accrued payroll Cash flows from investing activities:\nSale of property, plant and equipment Purchase of marketable securities Cash flows from financing activities:\nRepayments of commercial paper, maturities greater than 90 days Net issuances (repayments) of other short-term borrowings Repayment of long-term debt Debt issuance costs and bridge financing fees Issuance of Conagra Brands, Inc. common shares, net — — (21.8 ) (364.3 ) 163.5 (92.5 ) 23.1 83.7\n(8.5 ) (13.6 ) (19.1 )\n(14.3 ) 15.9 0.1\n2.5 14.0 22.5\n(11.8 ) (46.8 ) (61.0 )\n(298.6 ) — —\n706.3 0.1 (277.3 )\n(2,514.5 ) (947.5 ) (3,972.7 )\n(6.2 ) — (95.2 )\n— — 555.7\n(298.1 (0.1 ) 4.8 (1.6 )\n7.7 (1.7 ) (0.7 )\n316.7 108.6\nNet cash flows from operating activities - continuing operations 1,468.1 1,842.6 1,114.3\nNet cash flows from operating activities - discontinued operations — — 11.2\nNet cash flows from operating activities 1,468.1 1,842.6 1,125.5\nAdditions to property, plant and equipment (506.4 ) (369.5 ) (353.1 )\nPurchase of business, net of cash acquired — — (5,119.2 )\nProceeds from divestitures, net of cash divested 160.9 194.6 281.5\nSales of marketable securities 14.5 53.8 52.2\nOther items — 0.1 11.1\nNet cash flows from investing activities (340.3 ) (153.8 ) (5,166.0 )\nIssuances of commercial paper, maturities greater than 90 days 298.6 — —\nIssuance of long-term debt 988.2 — 8,310.5\nPayment of intangible asset financing arrangement (12.9 ) (13.6 ) (14.0 )\nRepurchase of Conagra Brands, Inc. common shares ) — —\nCash dividends paid (474.6 ) (413.6 ) (356.2 )\nExercise of stock options and issuance of other stock awards, including tax withholdings Other items 2.3 (0.6 ) 0.6\nNet cash flows from financing activities (1,609.6 ) (1,370.4 ) 4,149.8\nEffect of exchange rate changes on cash and cash equivalents and restricted cash Net change in cash and cash equivalents and restricted cash (474.1 ) Cash and cash equivalents and restricted cash at beginning of year 554.3 237.6 129.0\nCash and cash equivalents and restricted cash at end of year $ 80.2 $ 554.3 $ 237.6\nThe accompanying Notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_company_type",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nPART I\nThis annual report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities\nAct of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, performance, or\nachievements could differ materially from those projected in the forward-looking statements as a result of a number of risks,\nuncertainties, and other factors. For a discussion of important factors that could cause our results, performance, or achievements to\ndiffer materially from any future results, performance, or achievements expressed or implied by our forward-looking statements,\nplease refer to Item 1A, Risk Factors and Item 7, Management's Discussion and Analysis of Financial Condition and Results of\nOperations below.\nITEM 1. BUSINESS\nGeneral Development of Business\nConagra Brands, Inc. (the \"Company\", \"Conagra Brands\", \"we\", \"us\", or \"our\"), headquartered in Chicago, is one of North\nAmerica's leading branded food companies. Guided by an entrepreneurial spirit, the Company combines a rich heritage of making\ngreat food with a sharpened focus on innovation. The Company's portfolio is evolving to satisfy people's changing food preferences.\nIts iconic brands such as Birds Eye®\n, Duncan Hines®\n, Healthy Choice®\n, Marie Callender's®\n, Reddi-wip®, and Slim Jim®, as well as\nemerging brands, including Angie's® BOOMCHICKAPOP®\n, Duke's®\n, Earth Balance®\n, Gardein®, and Frontera®, offer choices for\nevery occasion.\nWe began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history. We\nwere initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time, we\ntransformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses has\nalso been fueled by innovation, organic growth of our brands, and expansion into adjacent categories, including through\nacquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested capital.\nOn October 26, 2018, we completed our acquisition of Pinnacle Foods Inc. (\"Pinnacle\"). As a result of the acquisition,\nPinnacle became a wholly-owned subsidiary of the Company.\nNarrative Description of Business\nWe compete throughout the food industry and focus on adding value for our customers who operate in the retail food and\nfoodservice channels.\nOur operations, including our r",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_key_financials",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Organic net sales growth of 5.1%, 15.8% increase in adjusted diluted EPS. 475m in cash dividends to shareholders",
      "golden_context": "Page 2:\n\nly to one thing—the\nincredible team of employees here at Conagra Brands.\nBecause of our dedicated employees, we successfully\nnavigated the incredibly dynamic conditions of the last\n12 months. We delivered for our customers, consumers,\ncommunities, and you, our shareholders.\nBy executing the Conagra Way day-in and day-out, our\nteam capitalized on an unprecedented time of consumer\ndemand in fiscal 2021. Over the last year, we acquired and\nretained multiple years’ worth of new consumers and grew\nshare across categories, all while continuing to invest for\nthe future. This translated into strong growth across the\nportfolio. We saw continued strength in frozen and\nsnacks, as well as increased relevancy for our large\nstaples business.\nFiscal 2021 financial highlights include:\n•\n•\n•\n•\nOur organic net sales1 growth of 5.1%\nA 15.8% increase in adjusted diluted earnings per\nshare (EPS). On a two-year CAGR2 basis, adjusted\nEPS grew 14.6%3\nEarly achievement of our net leverage goal4 of 3.6x\nAn increase of our quarterly dividend by 29% and\npayment of $475 million in cash dividends to\nour shareholders\nI am also proud of our continued focus on social\nresponsibility and sustainability during fiscal 2021. We\npublished our annual Citizenship Report in February 2021,\nand I encourage you to read the report for more information\non Conagra’s progress against key environmental, social\nand governance (ESG) initiatives and actions. A few of\nour team’s accomplishments in the past year include\nthe following.\nDiversity and Inclusion Goals: In furtherance of our\nwork to have the most impactful, energized and inclusive\nculture in food, Conagra set ambitious representation and\nretention goals during fiscal 2021, including doubling the\nrepresentation of people of color in management and\nmiddle-management roles and having at least 40% of\nmanagement-level roles held by women within the next\nfive years.\nSustainable Development Awards: Now in its 12th\nconsecutive year, the Sustainable Development Awards\nis a Conagra employee-led program that encourages the\ndevelopment and implementation of innovative ideas\nrelated to sustainable production and business practices.\nDuring fiscal 2021, employees submitted more than 200\nsustainability-focused projects that generated the following\nresults on an annual basis:\n•\n•\n•\n•\nDecreased the company’s carbon footprint by\n90,100 metric tons\nConserved 64 million gallons of water\nReduced waste by 12,300 tons\nMinimized material use by 17.6 million pounds\nFood Donations: Conagra continued its longstanding\npartnership with Feeding America, the nation’s leading\nhunger relief nonprofit, to impact hunger and food\ninsecurity where our employees live and work. During\nfiscal 2021, we donated 30 million pounds of food to\nFeeding America and its network of food banks, which\nis the equivalent of 25 million meals.\nAs we now enter fiscal 2022, we believe we have a\nunique opportunity to leverage our current momentum\nand maximize our long-term value creation potential.\nNew behaviors and habits created during the COVID-19\npandemic have resulted in an elevated and, we believe,\nsustained level of at-home eating. Shoppers are engaging\nor re-engaging with our products now more than ever.\nTo sustain this engagement, we plan to continue making\ninvestments in the physical and mental availability of our\nproducts. We are building capacity to fulfill consumer\ndemand, making further strategic eCommerce investments,\npursuing efficient and thoughtful marketing campaigns,\nand introducing another robust innovation slate.\nAs we invest in our brands to create new and stronger\nconnection with our consumers, we will also strategically\nnavigate the inflationary environment that has recently\naccelerated and continues as we begin fiscal 2022. We will\nhost an investor meeting in spring of 2022 where we will\nshare Conagra’s longer-term outlook.\nIn summary, I’m proud of how the entire Conagra Brands\nteam responded to fiscal 2021’s dynamic environment.\nOur strong results—both in the absolute and relative to\ncompetition—reflect the team’s dedication to executing the\nConagra Way each day. Our business remains very strong,\nand we believe we are well-positioned to deliver long-term\nsustainable, profitable growth.\nOn behalf of everyone at Conagra Brands, I thank you for\nyour continued support.\nSincerely,\nSean M. Connolly, President and Chief Executive Officer\nBOARD OF DIRECTORS\nAnil Arora\nSan Francisco, CA\nDirector and Former Vice Chairman of\nEnvestnet, Inc.; Former Chief Executive\nof Envestnet | Yodlee\nDirector since 2018\nThomas K. Brown\nDearborn, MI\nRetired Group Vice President of Global\nPurchasing at Ford Motor Company\nDirector since 2013\nEmanuel Chirico\nNew York, NY\nChairman of PVH Corp.\nDirector since 2021\nSean M. Connolly\nChicago, IL\nPresident and Chief Executive Officer\nof Conagra Brands, Inc.\nsince 2015\nDirector since 2015\nJoie A. Gregor\nScottsdale, AZ\nRetired Managing Director\nfor Leadership Development\nat Warburg Pincus, LLC\nDirector since 2009\nFran Horowitz\nNew Albany, OH\nChief Executive Officer\nof Abercrombie & Fitch\nDirector since 2021\nRajive Johri\nGreenwich, CT\nFormer President and Director\nof First National Bank of Omaha\nDirector since 2009\nRichard H. Lenny\nChicago, IL\nFormer Chairman and Chief Executive\nOfficer of The Hershey Company\nDirector since 2009 and Non-Executive\nChairman since 2018\nMelissa Lora\nNewport Beach, CA\nRetired President of Taco Bell\nInternational, a part of YUM!\nBrands, Inc.\nDirector since 2019\nRuth Ann Marshall\nFisher Island, FL\nRetired President of MasterCard\nInternational’s Americas division\nDirector since 2007\nCraig P. Omtvedt\nPalm Beach, FL\nRetired Senior Vice President\nand Chief Financial Officer of\nFortune Brands, Inc.\nDirector since 2016\nScott Ostfeld\nNew York, NY\nPartner of JANA Partners LLC\nand Co-Portfolio Manager of JANA\nStrategic Investments\nDirector",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_revenue",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "total net sales 11184.7m",
      "golden_context": "Page 83:\n\nunt of long-term debt (including current installments) was $8.30 billion as of May 30, 2021 and $9.75 billion\nas of May 31, 2020. Based on current market rates, the fair value of this debt (level 2 liabilities) at May 30, 2021 and May 31, 2020\nwas estimated at $9.76 billion and $11.35 billion, respectively.\n20. BUSINESS SEGMENTS AND RELATED INFORMATION\nWe reflect our results of operations in four reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, and\nFoodservice.\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail\nchannels in the United States.\nThe Refrigerated & Frozen reporting segment includes branded, temperature-controlled food products sold in various retail\nchannels in the United States.\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nWe do not aggregate operating segments when determining our reporting segments.\nOperating profit for each of the segments is based on net sales less all identifiable operating expenses. General corporate\nexpense, pension and postretirement non-service income, interest expense, net, income taxes, and equity method investment\nearnings have been excluded from segment operations.\nNet sales\n2021 2020 2019\nGrocery & Snacks $ 4,637.5 $ 4,617.1 $ 3,923.6\nRefrigerated & Frozen 4,774.6 4,559.6 3,735.4\nInternational 938.6 925.3 864.4\nFoodservice 834.0 952.4 1,015.0\nTotal net sales $ 11,184.7 $ 11,054.4 $ 9,538.4\nOperating profit\nGrocery & Snacks $ 1,093.8 $ 915.2 $ 762.6\nRefrigerated & Frozen 836.5 702.2 645.1\nInternational 131.8 100.6 99.8\nFoodservice 78.9 97.6 134.3\nTotal operating profit $ 2,141.0 $ 1,815.6 $ 1,641.8\nEquity method investment earnings 84.4 73.2 75.8\nGeneral corporate expenses 364.8 368.5 462.2\nPension and postretirement non-service income 54.5 9.9 35.1\nInterest expense, net 420.4 487.1 391.4\nIncome tax expense 193.8 201.3 218.8\nIncome from continuing operations $ 1,300.9 $ 841.8 $ 680.3\nLess: Net income attributable to noncontrolling interests 2.1 1.7 0.1\nIncome from continuing operations attributable to Conagra Brands, Inc. $ 1,298.8 $ 840.1 $ 680.2\n81\nNotes to Consolidated Financial Statements – (Continued)\nFiscal Years Ended May 30, 2021, May 31, 2020, and May 26, 2019\n(columnar dollars in millions except per share amounts)\nThe following table presents further disaggregation of our net sales:\nFrozen Staples\nOther shelf-stable Refrigerated Snacks International Foodservice Total net sales 2021 2020 2019\n$ 3,948.0 $ 3,735.5 $ 2,994.8\n2,838.0 2,902.8 2,426.7\n826.6 824.1 740.6\n1,799.5 1,714.3 1,496.9\n938.6 925.3 864.4\n834.0 952.4 1,015.0\n$ 11,184.7 $ 11,054.4 $ 9,538.4\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain\nnet sales of our segments as \"Staples\", which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources based\nupon the four reporting segments outlined above.\nPresentation of Derivative Gains (Losses) from Economic Hedges of Forecasted Cash Flows in Segment Results\nDerivatives used to manage commodity price risk and foreign currency risk are not designated for hedge accounting treatment.\nWe believe these derivatives provide economic hedges of certain forecasted transactions. As such, these derivatives are recognized\nat fair market value with realized and unrealized gains and losses recognized in general corporate expenses. The gains and losses\nare subsequently recognized in the operating results of the reporting segments in the period in which the underlying transaction\nbeing economically hedged is included in earnings. In the event that management determines a particular derivative entered into as\nan economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further\ngains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating\nresults, immediately.\nThe following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption\nand the foreign currency risk of certain forecasted transactions, under this methodology:\nNet derivative gains (losses) incurred Less: Net derivative losses allocated to reporting segments Net derivative losses allocated to Grocery & Snacks Net derivative losses allocated to Refrigerated & Frozen Net derivative gains (losses) allocated to International ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_revenue_growth",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "total net sales 11184.7m, prior year 11054.4m",
      "golden_context": "Page 83:\n\nunt of long-term debt (including current installments) was $8.30 billion as of May 30, 2021 and $9.75 billion\nas of May 31, 2020. Based on current market rates, the fair value of this debt (level 2 liabilities) at May 30, 2021 and May 31, 2020\nwas estimated at $9.76 billion and $11.35 billion, respectively.\n20. BUSINESS SEGMENTS AND RELATED INFORMATION\nWe reflect our results of operations in four reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, and\nFoodservice.\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail\nchannels in the United States.\nThe Refrigerated & Frozen reporting segment includes branded, temperature-controlled food products sold in various retail\nchannels in the United States.\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nWe do not aggregate operating segments when determining our reporting segments.\nOperating profit for each of the segments is based on net sales less all identifiable operating expenses. General corporate\nexpense, pension and postretirement non-service income, interest expense, net, income taxes, and equity method investment\nearnings have been excluded from segment operations.\nNet sales\n2021 2020 2019\nGrocery & Snacks $ 4,637.5 $ 4,617.1 $ 3,923.6\nRefrigerated & Frozen 4,774.6 4,559.6 3,735.4\nInternational 938.6 925.3 864.4\nFoodservice 834.0 952.4 1,015.0\nTotal net sales $ 11,184.7 $ 11,054.4 $ 9,538.4\nOperating profit\nGrocery & Snacks $ 1,093.8 $ 915.2 $ 762.6\nRefrigerated & Frozen 836.5 702.2 645.1\nInternational 131.8 100.6 99.8\nFoodservice 78.9 97.6 134.3\nTotal operating profit $ 2,141.0 $ 1,815.6 $ 1,641.8\nEquity method investment earnings 84.4 73.2 75.8\nGeneral corporate expenses 364.8 368.5 462.2\nPension and postretirement non-service income 54.5 9.9 35.1\nInterest expense, net 420.4 487.1 391.4\nIncome tax expense 193.8 201.3 218.8\nIncome from continuing operations $ 1,300.9 $ 841.8 $ 680.3\nLess: Net income attributable to noncontrolling interests 2.1 1.7 0.1\nIncome from continuing operations attributable to Conagra Brands, Inc. $ 1,298.8 $ 840.1 $ 680.2\n81\nNotes to Consolidated Financial Statements – (Continued)\nFiscal Years Ended May 30, 2021, May 31, 2020, and May 26, 2019\n(columnar dollars in millions except per share amounts)\nThe following table presents further disaggregation of our net sales:\nFrozen Staples\nOther shelf-stable Refrigerated Snacks International Foodservice Total net sales 2021 2020 2019\n$ 3,948.0 $ 3,735.5 $ 2,994.8\n2,838.0 2,902.8 2,426.7\n826.6 824.1 740.6\n1,799.5 1,714.3 1,496.9\n938.6 925.3 864.4\n834.0 952.4 1,015.0\n$ 11,184.7 $ 11,054.4 $ 9,538.4\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain\nnet sales of our segments as \"Staples\", which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources based\nupon the four reporting segments outlined above.\nPresentation of Derivative Gains (Losses) from Economic Hedges of Forecasted Cash Flows in Segment Results\nDerivatives used to manage commodity price risk and foreign currency risk are not designated for hedge accounting treatment.\nWe believe these derivatives provide economic hedges of certain forecasted transactions. As such, these derivatives are recognized\nat fair market value with realized and unrealized gains and losses recognized in general corporate expenses. The gains and losses\nare subsequently recognized in the operating results of the reporting segments in the period in which the underlying transaction\nbeing economically hedged is included in earnings. In the event that management determines a particular derivative entered into as\nan economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further\ngains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating\nresults, immediately.\nThe following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption\nand the foreign currency risk of certain forecasted transactions, under this methodology:\nNet derivative gains (losses) incurred Less: Net derivative losses allocated to reporting segments Net derivative losses allocated to Grocery & Snacks Net derivative losses allocated to Refrigerated & Frozen Net derivative gains (losses) allocated to International ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000208_segments",
      "report_id": "ID_000208",
      "company_name": "Conagra",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Grovery & Snacks, Refrigerated & Frozen, International, Foodservice",
      "golden_context": "Page 5:\n\novation, organic growth of our brands, and expansion into adjacent categories, including through\nacquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested capital.\nOn October 26, 2018, we completed our acquisition of Pinnacle Foods Inc. (\"Pinnacle\"). As a result of the acquisition,\nPinnacle became a wholly-owned subsidiary of the Company.\nNarrative Description of Business\nWe compete throughout the food industry and focus on adding value for our customers who operate in the retail food and\nfoodservice channels.\nOur operations, including our reporting segments, are described below. Our locations, including manufacturing facilities,\nwithin each reporting segment, are described in Item 2, Properties.\nReporting Segments\nOur reporting segments are as follows:\nGrocery & Snacks\nchannels in the United States.\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail\nRefrigerated & Frozen\nThe Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in\nvarious retail channels in the United States.\nInternational\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\n3\nFoodservice\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nUnconsolidated Equity Investments\nWe have two unconsolidated equity investments. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_cash_flow",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1177.3m, investing: -434.9m, financing: -738.0m, total cash flows: 3.1m",
      "golden_context": "Page 47:\n\nConagra Brands, Inc. and Subsidiaries\nConsolidated Statements of Cash Flows\n(in millions)\nFor the Fiscal Years Ended May\n2022 2021 2020\nCash flows from operating activities:\nNet income $ 888.2 $ 1,300.9 $ 841.8\nAdjustments to reconcile income from continuing operations to net cash flows\nfrom operating activities:\nDepreciation and amortization 375.4 387.7 388.9\nAsset impairment charges 284.8 95.5 259.9\nLoss (gain) on divestitures — (65.5) 2.2\nLoss on extinguishment of debt — 68.7 1.0\nEquity method investment earnings in excess of distributions (66.3) (27.9) (21.8)\nStock-settled share-based payments expense 26.1 63.9 59.2\nContributions to pension plans (11.5) (27.6) (17.5)\nPension expense (benefit) (54.4) (38.3) 5.9\nOther items (46.6) 9.1 10.3\nChange in operating assets and liabilities excluding effects of business\nacquisitions and dispositions:\nReceivables (69.5) 66.1 (43.8)\nInventories (232.8) (364.3) 163.5\nDeferred income taxes and income taxes payable, net (8.7) (92.5) 23.1\nPrepaid expenses and other current assets (10.1) (8.5) (13.6)\nAccounts payable 223.6 141.4 234.4\nAccrued payroll (23.5) (14.3) 15.9\nOther accrued liabilities (71.9) (60.2) (66.8)\nDeferred employer payroll taxes (25.5) 33.9 —\nNet cash flows from operating activities 1,177.3 1,468.1 1,842.6\nCash flows from investing activities:\nAdditions to property, plant and equipment (464.4) (506.4) (369.5)\nSale of property, plant and equipment 20.2 2.5 14.0\nProceeds from divestitures, net of cash divested 0.1 160.9 194.6\nPurchase of marketable securities (4.5) (11.8) (46.8)\nSales of marketable securities 10.4 14.5 53.8\nOther items 3.3 — 0.1\nNet cash flows from investing activities (434.9) (340.3) (153.8)\nCash flows from financing activities:\nIssuances of commercial paper, maturities greater than 90 days 392.6 298.6 —\nRepayments of commercial paper, maturities greater than 90 days (392.6) (298.6) —\nNet issuances (repayments) of other short-term borrowings (523.1) 706.3 0.1\nIssuance of long-term debt 499.1 988.2 —\nRepayment of long-term debt (48.5) (2,514.5) (947.5)\nDebt issuance costs (2.5) (6.2) —\nPayment of intangible asset financing arrangement (12.6) (12.9) (13.6)\nRepurchase of Conagra Brands, Inc. common shares (50.0) (298.1) —\nCash dividends paid (581.8) (474.6) (413.6)\nExercise of stock options and issuance of other stock awards, including tax\nwithholdings (11.3) (0.1) 4.8\nOther items (7.3) 2.3 (0.6)\nNet cash flows from financing activities (738.0) (1,609.6) (1,370.4)\nEffect of exchange rate changes on cash and cash equivalents and restricted cash (1.3) 7.7 (1.7)\nNet change in cash and cash equivalents and restricted cash 3.1 (474.1) 316.7\nCash and cash equivalents and restricted cash at beginning of year 80.2 554.3 237.6\nCash and cash equivalents and restricted cash at end of year $ 83.3 $ 80.2 $ 554.3\nThe accompanying Notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_company_type",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nPART I\nThis annual report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities\nAct of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, performance, or\nachievements could differ materially from those projected in the forward-looking statements as a result of a number of risks,\nuncertainties, and other factors. For a discussion of important factors that could cause our results, performance, or achievements\nto differ materially from any future results, performance, or achievements expressed or implied by our forward-looking statements,\nplease refer to Item 1A, Risk Factors and Item 7, Management's Discussion and Analysis of Financial Condition and Results of\nOperations below.\nITEM 1. BUSINESS\nGeneral Development of Business\nConagra Brands, Inc. (the \"Company\", \"Conagra Brands\", \"we\", \"us\", or \"our\"), headquartered in Chicago, is one of North\nAmerica's leading branded food companies. Guided by an entrepreneurial spirit, the Company combines a rich heritage of making\ngreat food with a sharpened focus on innovation. The Company's portfolio is evolving to satisfy people's changing food\npreferences. Its iconic brands such as Birds Eye®\n, Duncan Hines®\n, Healthy Choice®\n, Marie Callender's®\n, Reddi-wip®, and Slim\nJim®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®\n, Duke's®\n, Earth Balance®\n, Gardein®, and Frontera®\n,\noffer choices for every occasion.\nWe began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history.\nWe were initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time,\nwe transformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses\nhas also been fueled by innovation, organic growth of our brands, and expansion into adjacent categories, including through\nacquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested\ncapital.\nOn October 26, 2018, we completed our acquisition of Pinnacle Foods Inc. (\"Pinnacle\"). As a result of the acquisition,\nPinnacle became a wholly-owned subsidiary of the Company.\nNarrative Description of Business\nWe compete throughout the food industry and focus on adding value for our customers who operate in the retail food and\nfoodservice channels.\nOur operations, including our reporting segments, are described below. Our locations, including manufacturing facilities,\nwithin each reporting segment, are describe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_key_financials",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales increased 3.1%, organic sales increased 3.8%, EPS declined 30.8% to 1.84",
      "golden_context": "Page 2:\n\nentless execution led to strong fiscal 2022\nresults in the face of record inflation. We took timely action to\ncombat rising costs, including cost and productivity initiatives,\nand we implemented inflation-justified pricing actions. While\nwe saw benefit from these actions in fiscal 2022, we expect\nto see even more benefit in early fiscal 2023.\nFiscal 2022 financial highlights include:\n•\n•\n•\nNet sales increased 3.1% and organic net sales1\nincreased 3.8%. On a two-year compounded annualized\nbasis2, fiscal 2022 net sales increased 2.1% and organic\nnet sales1 increased 4.4%.\nEPS for fiscal 2022 declined 30.8% to $1.84;\nadjusted EPS declined 10.6% to $2.36. On a two-\nyear compounded annualized basis 2, fiscal 2022 EPS\nincreased 3.5% and adjusted EPS increased 1.7%.\nConagra Brands paid $582 million in cash dividends to\nour shareholders, an increase of more than 22 percent\ncompared to fiscal 2021.\nFiscal 2022 was another year of ESG progress. We published\nour annual Citizenship Report in March of 2022, and\nI hope you will take the time to read the report to learn\nmore about our initiatives in each of our four pillars –\nGood Food, Responsible Sourcing, Better Planet and\nStronger Communities. Here are some brief highlights\nfrom each pillar.\nGood Food\n•\n•\nConagra Brands is a proud partner of U.S. Farmers and\nRanchers in Action, working across the value chain with\nfarmers, ranchers, food and agriculture stakeholders to\nco-create sustainable food systems.\nIn October 2021, Conagra was named a “pioneer”\nand the top-ranked U.S. company on sustainable\nprotein research and innovation by The FAIRR Initiative,\nan investor network that defines material ESG issues\nin the animal agriculture sector to help inform\ninvestment decisions.\nResponsible Sourcing\n•\n•\nIn fiscal 2021, Conagra’s total ingredient buy\nby volume was approximately 79% plant-based.\nApproximately 93% of Conagra’s packaging materials\nby volume were renewable, recyclable or compostable3\n,\nprogressing towards our 2025 goal.\nBetter Planet\n•\n•\nThrough our employee-led Sustainable Development\nAwards program, we conserved 64 million gallons of\nwater decreased our carbon footprint by 91,000 metric\ntons, reduced waste by more than 12,300 tons and\nminimized material use by 17.6 million pounds.\nThis year Conagra honored ten Zero Waste\nmanufacturing facilities for diverting more than\n95% of waste materials from landfills through proper\nwaste separation, recycling, and other innovative\nwaste reduction measures.\nStronger Communities\n•\n•\nWe made progress on our ambitious representation\nand retention goals. At the management level, the\nnumber of newly-employed people of color increased\nby 6%. In addition, we introduced Inclusive Behaviors,\nproviding employees with a common framework\nfor fostering unity and effectively working across\ndifferences.\nTo help alleviate hunger and food insecurity where our\nemployees live and work, we donated 30 million pounds\nof food to Feeding America and its network of food\nbanks, which is the equivalent of 25 million meals.\nAs we begin fiscal 2023, I believe Conagra is positioned to\nleverage the heightened demand for our products to drive\nlong-term value creation for our shareholders. We hosted\nan Investor Day meeting on July 27, 2022, to discuss the\nfuture of the business and share in more detail our financials,\nas well as plans for our brands, supply chain, marketing,\nand ESG efforts. I encourage you to listen to the recorded\nwebcast on conagrabrands.com.\nOn behalf of all of us at ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_revenue",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 11535.9m",
      "golden_context": "Page 86:\n\nNotes to Consolidated Financial Statements\nFiscal Years Ended May 29,2022, May 30, 2021, and May 31, 2020\n(columnar dollars in millions except per share amounts)\nNet sales\n2022 2021 2020\nGrocery & Snacks $ 4,697.4 $ 4,624.7 $ 4,600.6\nRefrigerated & Frozen 4,859.3 4,774.6 4,559.6\nInternational 970.8 938.6 925.3\nFoodservice 1,008.4 846.8 968.9\nTotal net sales $ 11,535.9 $ 11,184.7 $ 11,054.4\nOperating profit\nGrocery & Snacks $ 859.5 $ 1,092.7 $ 914.3\nRefrigerated & Frozen 561.1 836.5 702.2\nInternational 106.7 131.8 100.6\nFoodservice 60.3 80.0 98.5\nTotal operating profit $ 1,587.6 $ 2,141.0 $ 1,815.6\nEquity method investment earnings 145.3 84.4 73.2\nGeneral corporate expenses 241.6 364.8 368.5\nPension and postretirement non-service income 67.3 54.5 9.9\nInterest expense, net 379.9 420.4 487.1\nIncome tax expense 290.5 193.8 201.3\nNet income $ 888.2 $ 1,300.9 $ 841.8\nLess: Net income attributable to noncontrolling interests — 2.1 1.7\nNet income attributable to Conagra Brands, Inc. $ 888.2 $ 1,298.8 $ 840.1\nThe following table presents further disaggregation of our net sales:\nFrozen Staples\nOther shelf-stable Refrigerated Snacks International Foodservice Total net sales $ 2022 4,091.1 $ 2021 3,948.0 $ 2020\n3,735.5\n$ 2,729.5 768.2 1,967.9 970.8 1,008.4 11,535.9 $ 2,830.2 826.6 1,794.5 938.6 846.8 11,184.7 $ 2,892.4\n824.1\n1,708.2\n925.3\n968.9\n11,054.4\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain\nnet sales of our segments as \"Staples\", which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources\nbased upon the four reporting segments outlined abo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_revenue_growth",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 11535.9m, prior year 11184.7m",
      "golden_context": "Page 86:\n\nNotes to Consolidated Financial Statements\nFiscal Years Ended May 29,2022, May 30, 2021, and May 31, 2020\n(columnar dollars in millions except per share amounts)\nNet sales\n2022 2021 2020\nGrocery & Snacks $ 4,697.4 $ 4,624.7 $ 4,600.6\nRefrigerated & Frozen 4,859.3 4,774.6 4,559.6\nInternational 970.8 938.6 925.3\nFoodservice 1,008.4 846.8 968.9\nTotal net sales $ 11,535.9 $ 11,184.7 $ 11,054.4\nOperating profit\nGrocery & Snacks $ 859.5 $ 1,092.7 $ 914.3\nRefrigerated & Frozen 561.1 836.5 702.2\nInternational 106.7 131.8 100.6\nFoodservice 60.3 80.0 98.5\nTotal operating profit $ 1,587.6 $ 2,141.0 $ 1,815.6\nEquity method investment earnings 145.3 84.4 73.2\nGeneral corporate expenses 241.6 364.8 368.5\nPension and postretirement non-service income 67.3 54.5 9.9\nInterest expense, net 379.9 420.4 487.1\nIncome tax expense 290.5 193.8 201.3\nNet income $ 888.2 $ 1,300.9 $ 841.8\nLess: Net income attributable to noncontrolling interests — 2.1 1.7\nNet income attributable to Conagra Brands, Inc. $ 888.2 $ 1,298.8 $ 840.1\nThe following table presents further disaggregation of our net sales:\nFrozen Staples\nOther shelf-stable Refrigerated Snacks International Foodservice Total net sales $ 2022 4,091.1 $ 2021 3,948.0 $ 2020\n3,735.5\n$ 2,729.5 768.2 1,967.9 970.8 1,008.4 11,535.9 $ 2,830.2 826.6 1,794.5 938.6 846.8 11,184.7 $ 2,892.4\n824.1\n1,708.2\n925.3\n968.9\n11,054.4\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain\nnet sales of our segments as \"Staples\", which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources\nbased upon the four reporting segments outlined abo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000209_segments",
      "report_id": "ID_000209",
      "company_name": "Conagra",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Grovery & Snacks, Refrigerated & Frozen, International, Foodservice",
      "golden_context": "Page 5:\n\ne a wholly-owned subsidiary of the Company.\nNarrative Description of Business\nWe compete throughout the food industry and focus on adding value for our customers who operate in the retail food and\nfoodservice channels.\nOur operations, including our reporting segments, are described below. Our locations, including manufacturing facilities,\nwithin each reporting segment, are described in Item 2, Properties.\nReporting Segments\nOur reporting segments are as follows:\nGrocery & Snacks\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail\nchannels in the United States.\nRefrigerated & Frozen\nThe Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in\nvarious retail channels i\n\nInternational\nThe International reporting segment principally includes branded food products, in various temperature states, sold in\nvarious retail and foodservice channels outside of the United States.\nFoodservice\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nUnconsolidated Equity Investments\nWe have two unconsolidated equity investments. Our most significant equity method investment is our joint venture with\nrespect to Ardent Mills, a milling business.\nAcquisitions\nOn October 26, 2018, we completed the acquisition of Pinnacle, a branded packaged foods company specializing in shelf-\nstable and frozen foods. As a result of the acquisition, Pinnacle became a wholly-owned subsidiary of the Company. The total\namount of consideration paid in connection with the acquisition was approximately $8.03 billion and consisted of: (1) cash of $5.17\nbillion ($5.12 billion net of cash acquired); (2) 77.5 million Company Shares, with an approximate value of $2.82 billion, issued out of\nthe Company's treasury; and (3) replacement awards issued to former Pinnacle employees representing the fair value attributable to\npre-combination service of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_cash_flow",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 995.4m, investing activities: -354.9m, financing activities: -631.6m, total cash flow: 10.6m",
      "golden_context": "Page 40:\n\nConagra Brands, Inc. and Subsidiaries\nConsolidated Statements of Cash Flows\n(in millions)\nFor the Fiscal Years Ended May\n2023 2022 2021\nCash flows from operating activities:\nNet income $ 683.2 $ 888.2 $ 1,300.9\nAdjustments to reconcile income to net cash flows from operating activities:\nDepreciation and amortization 369.9 375.4 387.7\nAsset impairment charges 771.1 284.8 95.5\nGain on divestitures — — (65.5)\nLoss on extinguishment of debt — — 68.7\nEquity method investment earnings in excess of distributions (73.6) (66.3) (27.9)\nStock-settled share-based payments expense 79.2 26.1 63.9\nContributions to pension plans (12.5) (11.5) (27.6)\nPension benefit (13.9) (54.4) (38.3)\nOther items 8.0 (46.6) 9.1\nChange in operating assets and liabilities excluding effects of business acquisitions and\ndispositions:\nReceivables (102.1) (69.5) 66.1\nInventories (265.3) (232.8) (364.3)\nDeferred income taxes and income taxes payable, net (188.5) (8.7) (92.5)\nPrepaid expenses and other current assets 23.5 (10.1) (8.5)\nAccounts payable (248.9) 223.6 141.4\nAccrued payroll 12.5 (23.5) (14.3)\nOther accrued liabilities (21.7) (71.9) (60.2)\nDeferred employer payroll taxes (25.5) (25.5) 33.9\nNet cash flows from operating activities 995.4 1,177.3 1,468.1\nCash flows from investing activities:\nAdditions to property, plant and equipment (362.2) (464.4) (506.4)\nSale of property, plant and equipment 3.2 20.2 2.5\nProceeds from divestitures, net of cash divested — 0.1 160.9\nPurchase of marketable securities (5.2) (4.5) (11.8)\nSales of marketable securities 5.2 10.4 14.5\nOther items 4.1 3.3 —\nNet cash flows from investing activities (354.9) (434.9) (340.3)\nCash flows from financing activities:\nIssuance of short-term borrowings, maturities greater than 90 days 286.8 392.6 298.6\nRepayment of short-term borrowings, maturities greater than 90 days (330.0) (392.6) (298.6)\nNet issuance (repayment) of other short-term borrowings, maturities less than or equal to\n90 days 394.6 (523.1) 706.3\nIssuance of long-term debt 500.0 499.1 988.2\nRepayment of long-term debt (712.4) (48.5) (2,514.5)\nDebt issuance costs (4.1) (2.5) (6.2)\nPayment of intangible asset financing arrangement — (12.6) (12.9)\nRepurchase of Conagra Brands, Inc. common shares (150.0) (50.0) (298.1)\nCash dividends paid (623.8) (581.8) (474.6)\nExercise of stock options and issuance of other stock awards, including tax withholdings 2.3 (11.3) (0.1)\nOther items 5.0 (7.3) 2.3\nNet cash flows from financing activities (631.6) (738.0) (1,609.6)\nEffect of exchange rate changes on cash and cash equivalents and restricted cash 1.7 (1.3) 7.7\nNet change in cash and cash equivalents and restricted cash 10.6 3.1 (474.1)\nCash and cash equivalents and restricted cash at beginning of year 83.3 80.2 554.3\nCash and cash equivalents and restricted cash at end of year $ 93.9 $ 83.3 $ 80.2\nThe accompanying Notes are an integral part of the consolidated financial statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_company_type",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended May 28, 2023\nor\nto\nTitle of each class Name of each exchange on which registered\nCommon Stock, $5.00 par value New York Stock Exchange\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from Commission File No. 1-7275\nCONAGRA BRANDS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 47-0248710\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n222 W. Merchandise Mart Plaza, Suite 1300\nChicago, Illinois 60654\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code (312) 549-5000\nSecurities registered pursuant to section 12(b) of the Act:\nTrading Symbol(s) CAG Securities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required\nto submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.:\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, ind",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_key_financials",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Organic net sales increased 6.6%, adjusted EPS 17.4% increase, adjusted operating margin 125 basis point increase to 15.6%. 624m in dividends",
      "golden_context": "Page 2:\n\near Shareholders,\nFiscal 2023 was a year that saw unique challenges from continued input cost inflation, supply chain challenges, and operational\ndisruptions. But that didn’t stop Conagra Brands from delivering another strong year. I’m proud of the way our team navigated a dynamic\noperating environment to execute against our fiscal 2023 priorities and deliver strong revenue growth, margin improvement, and\nprofitable results. We will continue to benefit from our strong brands, processes, and people as we execute our playbook to drive\nsustainable growth. Fiscal 2023 highlights include:\n• Our organic net sales1 increased 6.6% during fiscal 2023\n• We delivered a 17.4% increase in adjusted earnings per share1 (EPS) versus a year ago\n• The Company increased adjusted operating margin1 125 basis points to 15.6%\n• We reduced our net leverage ratio1 to 3.63x, from 3.99x at the end of the prior year\n• Our board of directors continued to prioritize returning capital to shareholders, as we paid $624 million in dividends, up from\n$582 million paid in fiscal 2022.\nOne constant for Conagra Brands was our focus on corporate social responsibility. We published our annual Citizenship Report in\nMarch 2023, which outlines Conagra’s progress against key environmental, social, and governance (ESG) initiatives and actions. I’m\nproud of the team’s achievements in the past year, which include:\nDiversity and Inclusion: Our goal is to create a culture of belonging, where everyone can experience inclusion. Our multi-year diversity\nand inclusion strategy supports three key areas of focus: recruitment, advocacy, and development. In fiscal year 2023, we continued to\nexecute comprehensive plans to support delivery of our D&I strategy. Our focus on diversity recruitment has resulted in a strong pipeline of\ndiverse early talent and experienced hires, resulting in recognition from organizations like the Talent Board.\nSustainable Development Awards: Conagra Brands’ Sustainable Development Awards program continues to be the cornerstone for\nengaging employees and recognizing their innovative ideas related to improving our production and business practices. Through this\ninitiative, which began in 2009, Conagra Brands has:\n• Conserved 3.7 billion gallons of water\n• Decreased Conagra’s carbon footprint by 215,000 metric tons\n• Reduced waste by 122,700 tons\n• Decreased packaging materials by more than 32,000 tons\n• Saved over $280 million\nEmployee Volunteerism: Conagra employees are dedicated, engaged, and generously give their time and talents to volunteer year-\nround at organizations that are important to them and their local communities. Throughout fiscal year 2023, Conagra employees\nvolunteered thousands of hours at more than 100 different nonprofit agencies that serve the communities where we do business.\nIn fiscal 2024, we expect to transition toward a more normalized operating environment. Of course, our focus on innovation will continue\nto be at the forefront of our efforts and we are excited to introduce our biggest slate of new products to date. Our fiscal 2024 lineup\nfeatures a compelling mix of convenient, value-added meals, at-home restaurant experiences, and exciting licensed products. As always,\nwe will support our new products by investing in our modern approach to marketing to drive sales.\nAt Conagra, we are all working together to drive sustainable growth and margin expansion – and it’s our people who really make it\nhappen. Every day, I’m proud of our team’s dedication, expertise, and willingness to get the job done. Their efforts are why our business\nis well-positioned to drive shareholder value for many years to come.\nOn behalf of everyone at Conagra Brands, I thank you for your support.\nSincerely,\nSean M. Connolly, President and Chief Executive Of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_revenue",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "12277m net sales",
      "golden_context": "Page 74:\n\notes to Consolidated Financial Statements\nFiscal Years Ended May 28, 2023, May 29, 2022, and May 30, 2021\n(columnar dollars in millions except per share amounts)\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nWe do not aggregate operating segments when determining our reporting segments.\nOperating profit for each of the segments is based on net sales less all identifiable operating expenses. General corporate\nexpense, pension and postretirement non-service income, interest expense, net, income taxes, and equity method investment\nearnings have been excluded from segment operations.\nNet sales\n2023 2022 2021\nGrocery & Snacks $ 4,981.9 $ 4,697.4 $ 4,624.7\nRefrigerated & Frozen 5,156.2 4,859.3 4,774.6\nInternational 1,002.5 970.8 938.6\nFoodservice 1,136.4 1,008.4 846.8\nTotal net sales $ 12,277.0 $ 11,535.9 $ 11,184.7\nOperating profit\nGrocery & Snacks $ 1,002.8 $ 859.5 $ 1,092.7\nRefrigerated & Frozen 255.0 561.1 836.5\nInternational 121.4 106.7 131.8\nFoodservice 85.0 60.3 80.0\nTotal operating profit $ 1,464.2 $ 1,587.6 $ 2,141.0\nEquity method investment earnings 212.0 145.3 84.4\nGeneral corporate expenses 388.9 241.6 364.8\nPension and postretirement non-service income 24.2 67.3 54.5\nInterest expense, net 409.6 379.9 420.4\nIncome tax expense 218.7 290.5 193.8\nNet income $ 683.2 $ 888.2 $ 1,300.9\nLess: Net income attributable to noncontrolling interests (0.4) — 2.1\nNet income attributable to Conagra Brands, Inc. $ 683.6 $ 888.2 $ 1,298.8\nThe following table presents further disaggregation of our net sales:\n2023 2022 2021\nFrozen $ 4,288.1 $ 4,091.1 $ 3,948.0\nStaples\nOther shelf-stable 2,851.9 2,729.5 2,830.2\nRefrigerated 868.1 768.2 826.6\nSnacks 2,130.0 1,967.9 1,794.5\nInternational 1,002.5 970.8 938.6\nFoodservice 1,136.4 1,008.4 846.8\nTotal net sales $ 12,277.0 $ 11,535.9 $ 11,184.7\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain net\nsales of our segments as “Staples”, which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources based",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_revenue_growth",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "12277m net sales, 11535.9m prior year",
      "golden_context": "Page 74:\n\notes to Consolidated Financial Statements\nFiscal Years Ended May 28, 2023, May 29, 2022, and May 30, 2021\n(columnar dollars in millions except per share amounts)\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\nWe do not aggregate operating segments when determining our reporting segments.\nOperating profit for each of the segments is based on net sales less all identifiable operating expenses. General corporate\nexpense, pension and postretirement non-service income, interest expense, net, income taxes, and equity method investment\nearnings have been excluded from segment operations.\nNet sales\n2023 2022 2021\nGrocery & Snacks $ 4,981.9 $ 4,697.4 $ 4,624.7\nRefrigerated & Frozen 5,156.2 4,859.3 4,774.6\nInternational 1,002.5 970.8 938.6\nFoodservice 1,136.4 1,008.4 846.8\nTotal net sales $ 12,277.0 $ 11,535.9 $ 11,184.7\nOperating profit\nGrocery & Snacks $ 1,002.8 $ 859.5 $ 1,092.7\nRefrigerated & Frozen 255.0 561.1 836.5\nInternational 121.4 106.7 131.8\nFoodservice 85.0 60.3 80.0\nTotal operating profit $ 1,464.2 $ 1,587.6 $ 2,141.0\nEquity method investment earnings 212.0 145.3 84.4\nGeneral corporate expenses 388.9 241.6 364.8\nPension and postretirement non-service income 24.2 67.3 54.5\nInterest expense, net 409.6 379.9 420.4\nIncome tax expense 218.7 290.5 193.8\nNet income $ 683.2 $ 888.2 $ 1,300.9\nLess: Net income attributable to noncontrolling interests (0.4) — 2.1\nNet income attributable to Conagra Brands, Inc. $ 683.6 $ 888.2 $ 1,298.8\nThe following table presents further disaggregation of our net sales:\n2023 2022 2021\nFrozen $ 4,288.1 $ 4,091.1 $ 3,948.0\nStaples\nOther shelf-stable 2,851.9 2,729.5 2,830.2\nRefrigerated 868.1 768.2 826.6\nSnacks 2,130.0 1,967.9 1,794.5\nInternational 1,002.5 970.8 938.6\nFoodservice 1,136.4 1,008.4 846.8\nTotal net sales $ 12,277.0 $ 11,535.9 $ 11,184.7\nTo be consistent with how we present certain disaggregated net sales information to investors, we have categorized certain net\nsales of our segments as “Staples”, which includes all of our U.S. domestic retail refrigerated products and other shelf-stable\ngrocery products. Management continues to regularly review financial results and make decisions about allocating resources based",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000210_segments",
      "report_id": "ID_000210",
      "company_name": "Conagra",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Grocery & Snack, Refrigerated & Frozen, International, Foodservice",
      "golden_context": "Page 6:\n\nmpanies. Guided by an entrepreneurial spirit, the Company combines a rich heritage of making\ngreat food with a sharpened focus on innovation. The Company’s portfolio is evolving to satisfy people’s changing food preferences.\nIts iconic brands such as Birds Eye®\n, Duncan Hines®\n, Healthy Choice®\n, Marie Callender’s®\n, Reddi-wip®, and Slim Jim®, as well as\nemerging brands, including Angie’s® BOOMCHICKAPOP®\n, Duke’s®\n, Earth Balance®\n, Gardein®, and Frontera®, offer choices for\nevery occasion.\nWe began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history. We\nwere initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time,\nwe transformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses\nhas also been fueled by innovation, organic growth of our brands, and expansion into adjacent categories, including through\nacquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested capital.\nNarrative Description of Business\nWe compete throughout the food industry and focus on adding value for our customers who operate in the retail food and\nfoodservice channels.\nOur operations, including our reporting segments, are described below. Our locations, including manufacturing facilities,\nwithin each reporting segment, are described in Item 2, Properties.\nReporting Segments\nOur reporting segments are as follows:\nGrocery & Snacks\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail\nchannels in the United States.\nRefrigerated & Frozen\nThe Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in\nvarious retail channels in the United States.\nInternational\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various\nretail and foodservice channels outside of the United States.\nFoodservice\nThe Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a\nvariety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily\nin the United States.\n1\nUnconsolidated Equity Investments\nWe have two unconsolidated equity investments. Our most significant equity method investment is our joint venture with\nrespect to Ardent Mills, a milling business.\nGeneral\nThe following comments pertain to all of our reporting segments.\nConagra Brands is a branded consumer packaged goods food company that operates in many sectors of the food industry,\nwith a significant focus on the sale of branded, private branded, and value-added consumer food, as well as foodservice items and\ningredients. We use many different raw materials, most of which are commodities. The prices paid for raw materials used in making\nour food generally reflect factors such as global economic conditions, trade barriers or restrictions, supply chain disruptions,\nsupply and demand, weather, commodity market fluctuations, currency fluctuations, tariffs, and the effects of governmental\nagricultural programs. Although the prices of raw materials can be expected to fluctuate as a result of these factors, we believe such\nraw materials to be in adequate supply and generally available from numerous sources. From time to time, we have faced increased\ncosts for many of our significant raw materials, packaging, and energy inputs. We seek to mitigate higher input costs through\nproductivity and pricing initiatives and the use of derivative instruments to economically hedge a portion of forecasted future\nconsumption.\nWe experience intense competition for sales of our food items in our major markets. Our food items compete with widely\nadvertised, well-known, branded food, as well as private branded and customized food items. Some of our competitors are larger\nand have greater resources than we have. We compete primarily on the basis of quality, value, product innovation, customer\nservice, brand recognition, and brand loyalty.\nDemand for certain of our food items may be influenced by holidays, changes in seasons, or other annual events. For example,\nsales of frozen foods tend to be marginally higher during the winter months, seafood sales are highest during Lent, in advance of\nthe Easter holiday, and production of certain of our products occurs seasonally, during or immediately following the purchase of\nagricultural crops.\nOur intellectual property rights",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_cash_flow",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating activities 401805k, investing activities: -98965k, financing activities: -290159k, total cash flows 6824k",
      "golden_context": "Page 35:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nRollins, Inc. and Subsidiaries\n(in thousands)\n2021 2020 2019\nOPERATING ACTIVITIES\nNet income $ 350,687 $ 260,824 $ 203,347\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization Pension settlement loss Stock-based compensation expense Provision for expected credit losses (Gain) loss on sale of assets, net Provision for deferred income taxes 94,205 88,329 81,111\n— — 49,898\n14,865 20,850 14,158\n15,285 17,536 15,145\n(35,679) 1,598 (581)\n1,652 (1,215) (7,228)\nChanges in operating assets and liabilities\nTrade accounts receivables and other accounts receivables (22,439) (12,045) (20,151)\nFinancing receivables (14,473) (11,787) (9,080)\nMaterials and supplies 2,644 (10,706) (2,151)\nOther current assets (11,159) 6,847 (13,147)\nAccounts payable and accrued expenses 1,421 50,061 5,611\nUnearned revenue 11,934 7,276 5,424\nOther long-term assets and liabilities (7,138) 18,217 (2,783)\nNet cash provided by operating activities 401,805 435,785 319,573\nINVESTING ACTIVITIES\nAcquisitions, net of cash acquired (146,098) (147,613) (430,558)\nCapital expenditures (27,194) (23,229) (27,146)\nProceeds from sale of assets 74,438 7,700 1,758\nOther investing activities, net (111) 747 839\nNet cash (used in) investing activities (98,965) (162,395) (455,107)\nFINANCING ACTIVITIES\nPayment of contingent consideration Borrowings under term loan Borrowings under revolving commitment Repayments of term loan Repayments of revolving commitment Payment of dividends Cash paid for common stock purchased Net cash (used in) provided by financing activities Effect of exchange rate changes on cash Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period (22,809) (24,011) (15,969)\n— — 250,000\n206,500 135,000 190,000\n(88,000) (54,000) (60,000)\n(166,500) (169,500) (88,500)\n(208,656) (160,487) (153,836)\n(10,694) (8,275) (10,009)\n(290,159) (281,273) 111,686\n(5,857) 12,084 2,639\n6,824 4,201 (21,209)\n98,477 94,276 115,485\n$ 105,301 $ 98,477 $ 94,276\nSupplemental disclosure of cash flow information:\nCash paid for interest Cash paid for income taxes, net Non-cash additions to operating lease right-of-use assets $ 1,313 $ 5,056 $ 6,452\n$ 119,762 $ 81,184 $ 75,812\n$ 116,594 $ 89,016 $ 75,782\nThe accompanying notes are an integral part of these consolidated financial statements\n35",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_company_type",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2021\nCommission file No. 1-4422\nROLLINS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 51-0068479\n(State or other jurisdiction of (I.R.S. Employer Identification No.)\nincorporation or organization)\n2170 Piedmont Road, N.E., Atlanta, Georgia (Address of principal executive offices) 30324\n(Zip Code)\nRegistrant’s telephone number, including area code: (404) 888-2000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $1 Par Value Trading Symbol(s) ROL Name of each exchange on which registered\nThe New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No ◻\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ◻ No ⌧\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ⌧ No ◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and emerging growth company in Rule 12b-2 of\nthe Exchange Act.\nLarge Accelerated Filer ⌧ Accelerated filer ◻\nNon-accelerated filer ◻ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_key_financials",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues rose 12.2% to 2.4bn income before income taxes increased 33.9% to 474.8m. EPS diluted 0.71. ",
      "golden_context": "Page 19:\n\ns Discussion and Analysis of Financial Condition and Results of Operations.\nPresentation\nThis discussion should be read in conjunction with our audited financial statements and related notes included elsewhere in this document. Discussions of\n2019 items and year-to-year comparisons of 2020 and 2019 that are not included in this Form 10-K can be found in “Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations” in Part II, Item 7 on our Annual report on Form 10-K for the year ended December 31, 2020.\nThe following discussion (as well as other discussions in this document) contains forward-looking statements. Please see “Cautionary Statement Regarding\nForward-Looking Statements” for a discussion of uncertainties, risks and assumptions associated with these statements.\nThe Company\nRollins, Inc. (“Rollins,\n” “we,\n” “us,\n” “our,\n” or the “Company”), is an international services company headquartered in Atlanta, Georgia that provides pest\nand termite control services to both residential and commercial customers through its wholly-owned subsidiaries and independent franchises in the United\nStates, Canada, Australia, Europe, and Asia with international franchises in Canada, Central and South America, the Caribbean, Europe, the Middle East,\nAsia, Africa, and Australia. Our pest and termite control services are performed pursuant to terms of contracts that specify the pricing arrangement with the\ncustomer. The Company operates as one reportable segment and the results of operations and its financial condition are not reliant upon any single\ncustomer.\nGeneral Operating Comments\n2021 marked the Company’s 24th consecutive year of increased revenues. Revenues for the year rose 12.2% percent to $2.4 billion compared to $2.2\nbillion for the prior year. Income before income taxes increased 33.9% to $474.8 million compared to $354.7 million the prior year. Net income increased\n34.5% to $350.7 million, with earnings per diluted share of $0.71 compared to $260.8 million, or $0.53 per diluted share for the prior year. The Company\nhas continued to increase dividends to investors with $0.42 per diluted share paid in 2021 as compared to $0.33 per diluted share for the prior year,\nresulting in a 27% increase in dividends per share. In 2020, the dividend was reduced due to the uncertainty surrounding the effects of the COVID-19\npandemic (“COVID-19”) to our business.\nCybersecurity Incident\nIn October 2021, a third-party information technology Managed Service Provider (“MSP”) of the Company was the target of a cybersecurity incident (the\n“Incident”) resulting in the shutdown of the Company’s third-party Customer Relationship Management software used by certain of our subsidiaries whose\naggregate annual revenues comprise less than 11% of our total revenues. Upon notice of the Incident from the MSP, the Company immediately initiated its\nincident response protocols. There was no known material day-to-day impact to our ability to provide normal service to customers and there was no known\nindication that the information of our customers or employees was compromised as a result of the Incident. The Incident did not have a material adverse\neffect on our business, results of operation or financial condition; however, we may continue to be the target of further cybersecurity incidents that could\npossibly have a material adverse effect on our business, reputation, results of operation or financial condition. More information about our cybersecurity\nrisks is discussed under Item 1A.,\n“Risk Factors,\n” of Part I of this Annual Report on Form 10-K.\nCOVID-19\nThe global spread and unprecedented impact of the COVID-19 pandemic (“COVID-19”) continues to create significant volatility, uncertainty and\neconomic disruption around the world. In 2020, the pest control industry was designated as “essential” by the Department of Homeland Security. The\nCompany has been able to remain operational in ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_revenue",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "2424300k",
      "golden_context": "Page 21:\n\nResults of Operations—2021 Versus 2020\n(in thousands) Years ended December 31, Variance As a % of Revenue\n2021 2020 $ % 2021 2020\nREVENUES\nCustomer services $ 2,424,300 $ 2,161,220 263,080 12.2 100.0 100.0\nCOSTS AND EXPENSES\nCost of services provided (exclusive of depreciation and amortization\nbelow) 1,162,617 1,048,592 114,025 10.9 48.0 48.5\nSales, general and administrative 727,489 656,207 71,282 10.9 30.0 30.4\nDepreciation and amortization 94,205 88,329 5,876 6.7 3.9 4.1\nTotal operating expenses 1,984,311 1,793,128 191,183 10.7 81.9 83.0\nOPERATING INCOME 439,989 368,092 71,897 19.5 18.1 17.0\nInterest expense, net 830 5,082 (4,252) NM 0.0 0.2\nOther (income) expense, net (35,679) 8,290 (43,969) NM 1.5 0.4\nCONSOLIDATED INCOME BEFORE INCOME TAXES 474,838 354,720 120,118 33.9 19.6 16.4\nPROVISION FOR INCOME TAXES 124,151 93,896 30,255 32.2 5.1 4.3\nNET INCOME $ 350,687 $ 260,824 89,863 34.5 14.5 12.1\nRevenues\nRevenues for the year ended December 31, 2021 were $2.4 billion, an increase of $263.1 million, or 12.2%, from 2020 revenues of $2.2 billion.\nComparing 2021 to 2020, residential pest control revenue increased 13%, commercial pest control revenue increased 10% and termite and ancillary\nservices grew 14%. The Company’s revenue mix for the year ended December 31, 2021 consisted primarily of 46% residential pest control, 34%\ncommercial pest control and 20% termite and ancillary revenues (such as moisture control, insulation, deck and gutter work). The Company’s foreign\noperations accounted for approximately 8% and 7% of total revenues for the years ended December 31, 2021 and 2020, respectively.\nCost of Services Provided\nFor the twelve months ended December 31, 2021, cost of services provided increased $114.0 million, or 10.9%, compared to the twelve months ended\nDecember 31, 2020. The increase was driven by increased people costs and materials and supplies due to the increase in revenues. Additionally, fleet costs\nincreased mainly driven by an increase in fuel costs.\nSales, General and Administrative\nFor the twelve months ended December 31, 2021, sales, gen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_revenue_growth",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "2424300k, 2161220k prior year",
      "golden_context": "Page 21:\n\nResults of Operations—2021 Versus 2020\n(in thousands) Years ended December 31, Variance As a % of Revenue\n2021 2020 $ % 2021 2020\nREVENUES\nCustomer services $ 2,424,300 $ 2,161,220 263,080 12.2 100.0 100.0\nCOSTS AND EXPENSES\nCost of services provided (exclusive of depreciation and amortization\nbelow) 1,162,617 1,048,592 114,025 10.9 48.0 48.5\nSales, general and administrative 727,489 656,207 71,282 10.9 30.0 30.4\nDepreciation and amortization 94,205 88,329 5,876 6.7 3.9 4.1\nTotal operating expenses 1,984,311 1,793,128 191,183 10.7 81.9 83.0\nOPERATING INCOME 439,989 368,092 71,897 19.5 18.1 17.0\nInterest expense, net 830 5,082 (4,252) NM 0.0 0.2\nOther (income) expense, net (35,679) 8,290 (43,969) NM 1.5 0.4\nCONSOLIDATED INCOME BEFORE INCOME TAXES 474,838 354,720 120,118 33.9 19.6 16.4\nPROVISION FOR INCOME TAXES 124,151 93,896 30,255 32.2 5.1 4.3\nNET INCOME $ 350,687 $ 260,824 89,863 34.5 14.5 12.1\nRevenues\nRevenues for the year ended December 31, 2021 were $2.4 billion, an increase of $263.1 million, or 12.2%, from 2020 revenues of $2.2 billion.\nComparing 2021 to 2020, residential pest control revenue increased 13%, commercial pest control revenue increased 10% and termite and ancillary\nservices grew 14%. The Company’s revenue mix for the year ended December 31, 2021 consisted primarily of 46% residential pest control, 34%\ncommercial pest control and 20% termite and ancillary revenues (such as moisture control, insulation, deck and gutter work). The Company’s foreign\noperations accounted for approximately 8% and 7% of total revenues for the years ended December 31, 2021 and 2020, respectively.\nCost of Services Provided\nFor the twelve months ended December 31, 2021, cost of services provided increased $114.0 million, or 10.9%, compared to the twelve months ended\nDecember 31, 2020. The increase was driven by increased people costs and materials and supplies due to the increase in revenues. Additionally, fleet costs\nincreased mainly driven by an increase in fuel costs.\nSales, General and Administrative\nFor the twelve months ended December 31, 2021, sales, gen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000211_segments",
      "report_id": "ID_000211",
      "company_name": "Rollins",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 37:\n\nNCIAL STATEMENTS\nYears ended December 31, 2021, 2020, and 2019, Rollins, Inc. and Subsidiaries\n1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES\nBusiness Description—Rollins, Inc. (“Rollins,\n” “we,\n” “us,\n” “our,\n” or the “Company”), is an international services company headquartered in Atlanta,\nGeorgia that provides pest and termite control services to both residential and commercial customers through its wholly-owned subsidiaries and\nindependent franchises in the United States, Canada, Australia, Europe, and Asia with international franchises in Canada, Central and South America, the\nCaribbean, Europe, the Middle East, Asia, Africa, and Australia. The Company operates as one reportable segment and the results of operations and its\nfinancial condition are not reliant upon any single customer.\nPrinciples of Consolidation—The Company’s Consolidated Financial Statements include the accounts of Rollins, Inc. and the Company’s wholly-owned\nsubsidiaries and have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The Company does not\nconsolidate the financial statements of any company in which it has an ownership interest of 50% or less. The Company is not the primary beneficiary of,\nnor does it have a controlling financial interest in, any variable interest entity. Accordingly, the Company has not consolidated any variable interest entity.\nThe Company reclassified certain prior period amounts, none of which were material, to conform to the current period presentation. All material\nintercompany accounts and transactions have been eliminated.\nSubsequent Events—The Company evaluates its financial statements through the date the financial statements are issued.\nUse of Estimates—The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that\naffect the reported amounts of assets and liabilities, revenue and expenses and certain financial statement disclosures. Estimates and assumptions are used\nfor, but not limited to, accrued insurance, revenue recognition, right-of-use (\"ROU\") asset and liability valuations, accounts and financing receivable\nreserves, inventory valuation, employee benefit plans, income tax contingency accruals and valuation allowances, contingency accruals and goodwill and\nother intangible asset valuations. Although these estimates are based on management's knowledge of current events and actions it may undertake in the\nfuture, actual results may ultimately differ from these estimates and assumptions.\nThe Company considered the impact of COVID-19 on the assumptions and estimates used in preparing the consolidated financial statements. In the\nopinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the year have been made. These\nadjustments are of a normal recurring nature but complicated by the uncertainty surrounding the global economic impact of COVID-19. The results of\noperations for the year ended December ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_cash_flow",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "net cash provided by operating activities \n465'930k\n\ninvesting: -134'141k\n\nfinancing: -336'017k\n",
      "golden_context": "\nPage 31:\n\nhe Company maintains approximately $71.3 million in letters\nof credit as of December 31, 2022. These letters of credit\nare required by the Company’s insurance companies, due to\nthe Company’s high deductible insurance program, to secure\nvarious workers’ compensation and casualty insurance contracts\ncoverage and were increased from $37.2 million as of December\n31, 2021. The Company believes that it has adequate liquid\nassets, funding sources and insurance accruals to accommodate\npotential future insurance claims.\nIn order to comply with applicable debt covenants, the\nCompany is required to maintain at all times a leverage ratio\nof not greater than 3.00:1.00. The leverage ratio is calculated\nas of the last day of the fiscal quarter most recently ended.\nThe Company remained in compliance with applicable debt\ncovenants at December 31, 2022. We plan to evaluate\nopportunities to renegotiate our credit facility that will be\nexpiring in April 2024.\nThe following table sets forth a summary of our cash flows from operating, investing and financing activities for the year ended\nDecember 31, 2022 and 2021:\n(in thousands) Years ended December 31, Variance\n2022 2021 $ %\nNet cash provided by operating activities $ 465,930 $ 401,805 64,125 16.0\nNet cash used in investing activities (134,141) (98,965) (35,176) (35.5)\nNet cash used in financing activities (336,017) (290,159) (45,858) (15.8)\nEffect of exchange rate on cash (5,727) (5,857) 130 2.2\nNet (decrease) increase in cash and cash equivalents $ (9,955) $ 6,824 (16,779) (245.9)\nCash Provided by Operating Activities\nCash from operating activities is the principal source of cash\ngeneration for our businesses. The most significant source of cash\nin our cash flow from operations is customer-related activities,\nthe largest of which is collecting cash resulting from services sold.\nThe most significant operating use of cash is to pay our suppliers,\nemployees, and tax and regulatory authorities. The Company’s\noperations generated cash of $465.9 million for the year ended\nDecember 31, 2022 compared with cash provided by operating\nactivities of $401.8 million in 2021. The $64.1 million increase\nwas driven primarily by strong operating results and the timing\nof cash receipts from customers and cash payments to vendors,\nemployees, and tax and regulatory authorities.\nCash Used in Investing Activities\nThe Company used $134.1 million of cash in investing activities\nfor the year ended December 31, 2022 and used $99.0 million\nfor the year ended December 31, 2021. The Company invested\napproximately $30.6 million in capital expenditures during 2022\ncompared to $27.2 million during 2021. Capital expenditures for\nthe year consisted primarily of property purchases, equipment\nreplacements and technology-related projects. Cash paid for\nacquisitions totaled $119.2 million for the year ended December\n31, 2022 as compared to $146.1 million for the year ended\nDecember 31, 2021. The expenditures for the Company’s\nacquisitions were funded through existing cash balances and\noperating cash flows. The Company remains very active in\nevaluating opportunities for acquisitions and expects to make\nadditional acquisitions in 2023. The year ended December 31,\n2021 included approximately $67 million in cash proceeds from\nthe sale of assets related to the Clark Pest Control property sale-\nleaseback transactions.\nCash Used in Financing Activities\nThe Company used $336.0 million of cash in financing activities\nfor the year ended December 31, 2022 and $290.2 million in\nfinancing activities for the year ended December 31, 2021. The\nCompany made net debt repayments of $100.0 million during the\nyear ended December 31, 2022, compared to net repayments of\n$48.0 million during 2021. A total of $211.6 million was paid in\ncash dividends, $0.43 per share, during the year ended December\n31, 2022 compared to $208.7 million in cash dividends paid,\n$0.42 per share, during the year ended December 31, 2021.\nIn 2012, the Company’s Board of Directors authorized the\npurchase of up to 5 million shares of the Company’s common\nstock. After adjustments for stock splits, the total authorized\nshares under the share repurchase plan are 16.9 million shares.\nThe Company did not purchase shares on the open market\nduring the years ended December 31, 2022, 2021 and 2020.\nThere remain 11.4 million shares authorized to be repurchased\nunder prior Board approval and the repurchase plan does not\nexpire. The Company repurchased $7.1 million, $10.7 million,\nand $8.3 million of common stock for the years ended December\n31, 2022, 2021 and 2020, respectively, from employees for the\npayment of taxes on vesting restricted shares.\nRollins maintains adequate liquidity and capital resources,\nwithout regard to its foreign deposits, that are directed to finance\ndomestic operations and obligations and to fund expansion of\nits domestic business. The Company believes its current cash\nand cash equivalents balances, future cash flows expected to\nbe generated from operating activities, and available borrowings\nunder its $175 million revolving credit facility and $300\nmillion term loan facility will be sufficient to finance its current\noperations and obligations, and fund expansion of the business\nfor the foreseeable future. We expect to maintain compliance\nwith applicable debt covenants throughout 2023.\n\nPage 45:\n\nAt December 31, 2021\nAs reported Adjustment As revised\nCONSOLIDATED STATEMENTS OF\nFINANCIAL POSITION\nGoodwill $ 721,819 $ 64,685 $ 786,504\nCustomer contracts, net 325,929 (24,015) 301,914\nTotal assets 1,980,870 40,670 2,021,540\nOther long-term accrued liabilities 67,345 11,501 78,846\nTotal liabilities 898,822 11,501 910,323\nRetained earnings 500,919 29,169 530,088\nTotal stockholders’ equity 1,082,048 29,169 1,111,217\nTotal liabilities and stockholders’ equity 1,980,870 40,670 2,021,540\nFor the year ended December 31, 2021 For the year ended December 31, 2020\nAs reported Adjustment As revised As reported Adjustment As revised\nCONSOLIDATED STATEMENTS OF INCOME\nCOSTS AND EXPENSES\nSales, general and administrative $ 727,489 $ — $ 727,489 $ 656,207 $ 1,002 $ 657,209\nDepreciation and amortization 94,205 (7,647) 86,558 88,329 (8,998) 79,331\nTotal operating expenses 1,984,311 (7,647) 1,976,664 1,793,128 (7,996) 1,785,132\nOperating income 439,989 7,647 447,636 368,092 7,996 376,088\nConsolidated income before income taxes 474,838 7,647 482,485 354,720 7,996 362,716\nProvision for income taxes 124,151 1,769 125,920 93,896 2,064 95,960\nNet income\n350,687 5,878 356,565 260,824 5,932 266,756\nNet income per share – basic and diluted 0.71 0.01 0.72 0.53 0.01 0.54\nCONSOLIDATED STATEMENTS OF\nCOMPREHENSIVE INCOME\nNet income $ 350,687 $ 5,878 $ 356,565 $ 260,824 $ 5,932 $ 266,756\nComprehensive income 345,173 5,878 351,051 271,036 5,932 276,968\nRetained Earnings Total\nAs reported Adjustment As revised As reported Adjustment As revised\nCONSOLIDATED STATEMENTS OF\nSTOCKHOLDERS’ EQUITY\nBalance at December 31, 2019 $ 256,300 $ 17,359 $ 273,659 $ 815,750 $ 17,359 $ 833,109\nNet income 260,824 5,932 266,756 260,824 5,932 266,756\nBalance at December 31, 2020 358,888 23,291 382,179 941,360 23,291 964,651\nNet income 350,687 5,878 356,565 350,687 5,878 356,565\nBalance at December 31, 2021 500,919 29,169 530,088 1,082,048 29,169 1,111,217\nFor the year ended December 31, 2021 For the year ended December 31, 2020\nAs reported Adjustment As revised As reported Adjustment As revised\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nOPERATING ACTIVITIES\nNet income $ 350,687 $ 5,878 $ 356,565 $ 260,824 $ 5,932 $ 266,756\nAdjustments to reconcile net income to net\ncash provided by operating activities:\nDepreciation and amortization 94,205 (7,647) 86,558 88,329 (8,998) 79,331\nProvision for deferred income taxes 1,652 1,769 3,421 (1,215) 2,064 849\nChanges in operating assets and liabilities\nOther long-term assets and liabilities (7,138) — (7,138) 18,217 1,002 19,219\nNet cash provided by operating activities 401,805 — 401,805 435,785 — 435,785",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_company_type",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 13:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2022\nCommission file No. 1-4422\nROLLINS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 51-0068479\n(State or other jurisdiction of incorporation or organization) 2170 Piedmont Road, N.E., Atlanta, Georgia (Address of principal executive offices) Registrant’s telephone number, including area code:\n(404) 888-2000\n(I.R.S. Employer Identification No.)\n30324\n(Zip Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $1 Par Value ROL The New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act:\nNone.\nIndicate by check mark YES NO\n• Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  \n• Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  \n• Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days.\n \n•\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period\nthat the registrant was required to submit such files).\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_key_financials",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "11% revenue growth, 2.7bn revenues, adjusted EBITDA 593m, adjusted net income 369m, adjusted EPS 0.75",
      "golden_context": "Page 2:\n\nAbout Rollins\nMISSION STATEMENT\nRollins, Inc. is a premier global consumer and commercial services company.\nOur services are aimed at controlling pests and helping our customers protect their\nhealth, brands, and property. We have consistently grown through challenging\neconomic cycles while focusing on providing exceptional customer service.\nROLLINS AT A GLANCE\n70+\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\n17,500+\nEMPLOYEES\n11+%\nTOTAL REVENUE GROWTH\n(2022 OVER 2021)\n2022 Financial Highlights\nWe finished 2022 with a record level of revenues, healthy profitability and strong cash flow.\nThe demand for our services remained strong over the course of the year, and we saw improved\nincremental margins as we exited the year. We generated cash flow of $466 million, paid over\n$200 million in dividends and invested in excess of $100 million in acquisitions. Our strong cash\nflow and balance sheet position us well to continue to invest in future growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2022 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$2.7B\n+9.9%\n+10.3% +15.4%\n11.2% GROWTH\n7.8% ORGANIC\n3.4% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2022 FINANCIAL HIGHLIGHTS\nCASH FLOW\nFROM OPERATIONS\nFY 2022 CASH FLOW USE\n& LIQUIDITY HIGHLIGHTS\n+16%\n$466M\nADJUSTED EBITDA\n$593M\n22% OF REVENUES\nINCREASING 8.5%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$369M\nINCREASING 8.0%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.75\nINCREASING 8.7%\nYEAR OVER YEAR\n$402M\n($212M)\n($119M)\nDIVIDENDS\nACQUISITIONS\nCAPEX\nNET DEBT\nPAYMENTS\n0.1x\nNET DEBT TO ADJUSTED EBITDA AT 12/31/2022\n($31M)\n($100M)\nFY 2021 FY 2022\nGREATER THAN 100%\nCONVERSION OF NET INCOME\nTOTAL SHAREHOLDER RETURN\n8.1\n-9.6\n-18.0\nYEAR(S) RETURN\n545.6\n280.1\nROLLINS\n1 YEAR\nS&P 500\nCOMMERCIAL\nS&P 500\n10 YEARS\n226.5\n-100 0 100 200 300 400 500 600\nSTRONG RETURNS OVER THE SHORT-TERM AND LONG-TERM\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations refer to page 68 of Rollins, Inc. 2022 Annual Report.\nRollins, Inc. 2022 ANNUAL REPORT |\n1\nA Tribute to Gary W. Rollins\nAs we look at what’s ahead for Rollins in 2023 and beyond, we\nhonor the legacy of Gary W. Rollins and his remarkable 56-year career\nthus far at Rollins. We reflect on his positive impact and outstanding\ncontributions to our company and industry and look forward to his\ncontinued role as Chairman",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_revenue",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "2.7bn revenues",
      "golden_context": "Page 2:\n\nAbout Rollins\nMISSION STATEMENT\nRollins, Inc. is a premier global consumer and commercial services company.\nOur services are aimed at controlling pests and helping our customers protect their\nhealth, brands, and property. We have consistently grown through challenging\neconomic cycles while focusing on providing exceptional customer service.\nROLLINS AT A GLANCE\n70+\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\n17,500+\nEMPLOYEES\n11+%\nTOTAL REVENUE GROWTH\n(2022 OVER 2021)\n2022 Financial Highlights\nWe finished 2022 with a record level of revenues, healthy profitability and strong cash flow.\nThe demand for our services remained strong over the course of the year, and we saw improved\nincremental margins as we exited the year. We generated cash flow of $466 million, paid over\n$200 million in dividends and invested in excess of $100 million in acquisitions. Our strong cash\nflow and balance sheet position us well to continue to invest in future growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2022 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$2.7B\n+9.9%\n+10.3% +15.4%\n11.2% GROWTH\n7.8% ORGANIC\n3.4% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2022 FINANCIAL HIGHLIGHTS\nCASH FLOW\nFROM OPERATIONS\nFY 2022 CASH FLOW USE\n& LIQUIDITY HIGHLIGHTS\n+16%\n$466M\nADJUSTED EBITDA\n$593M\n22% OF REVENUES\nINCREASING 8.5%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$369M\nINCREASING 8.0%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.75\nINCREASING 8.7%\nYEAR OVER YEAR\n$402M\n($212M)\n($119M)\nDIVIDENDS\nACQUISITIONS\nCAPEX\nNET DEBT\nPAYMENTS\n0.1x\nNET DEBT TO ADJUSTED EBITDA AT 12/31/2022\n($31M)\n($100M)\nFY 2021 FY 2022\nGREATER THAN 100%\nCONVERSION OF NET INCOME\nTOTAL SHAREHOLDER RETURN\n8.1\n-9.6\n-18.0\nYEAR(S) RETURN\n545.6\n280.1\nROLLINS\n1 YEAR\nS&P 500\nCOMMERCIAL\nS&P 500\n10 YEARS\n226.5\n-100 0 100 200 300 400 500 600\nSTRONG RETURNS OVER THE SHORT-TERM AND LONG-TERM\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations refer to page 68 of Rollins, Inc. 2022 Annual Report.\nRollins, Inc. 2022 ANNUAL REPORT |\n1\nA Tribute to Gary W. Rollins\nAs we look at what’s ahead for Rollins in 2023 and beyond, we\nhonor the legacy of Gary W. Rollins and his remarkable 56-year career\nthus far at Rollins. We reflect on his positive impact and outstanding\ncontributions to our company and industry and look forward to his\ncontinued role as Chairman",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_revenue_growth",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "11% revenue growth",
      "golden_context": "Page 2:\n\nAbout Rollins\nMISSION STATEMENT\nRollins, Inc. is a premier global consumer and commercial services company.\nOur services are aimed at controlling pests and helping our customers protect their\nhealth, brands, and property. We have consistently grown through challenging\neconomic cycles while focusing on providing exceptional customer service.\nROLLINS AT A GLANCE\n70+\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\n17,500+\nEMPLOYEES\n11+%\nTOTAL REVENUE GROWTH\n(2022 OVER 2021)\n2022 Financial Highlights\nWe finished 2022 with a record level of revenues, healthy profitability and strong cash flow.\nThe demand for our services remained strong over the course of the year, and we saw improved\nincremental margins as we exited the year. We generated cash flow of $466 million, paid over\n$200 million in dividends and invested in excess of $100 million in acquisitions. Our strong cash\nflow and balance sheet position us well to continue to invest in future growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2022 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$2.7B\n+9.9%\n+10.3% +15.4%\n11.2% GROWTH\n7.8% ORGANIC\n3.4% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2022 FINANCIAL HIGHLIGHTS\nCASH FLOW\nFROM OPERATIONS\nFY 2022 CASH FLOW USE\n& LIQUIDITY HIGHLIGHTS\n+16%\n$466M\nADJUSTED EBITDA\n$593M\n22% OF REVENUES\nINCREASING 8.5%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$369M\nINCREASING 8.0%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.75\nINCREASING 8.7%\nYEAR OVER YEAR\n$402M\n($212M)\n($119M)\nDIVIDENDS\nACQUISITIONS\nCAPEX\nNET DEBT\nPAYMENTS\n0.1x\nNET DEBT TO ADJUSTED EBITDA AT 12/31/2022\n($31M)\n($100M)\nFY 2021 FY 2022\nGREATER THAN 100%\nCONVERSION OF NET INCOME\nTOTAL SHAREHOLDER RETURN\n8.1\n-9.6\n-18.0\nYEAR(S) RETURN\n545.6\n280.1\nROLLINS\n1 YEAR\nS&P 500\nCOMMERCIAL\nS&P 500\n10 YEARS\n226.5\n-100 0 100 200 300 400 500 600\nSTRONG RETURNS OVER THE SHORT-TERM AND LONG-TERM\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations refer to page 68 of Rollins, Inc. 2022 Annual Report.\nRollins, Inc. 2022 ANNUAL REPORT |\n1\nA Tribute to Gary W. Rollins\nAs we look at what’s ahead for Rollins in 2023 and beyond, we\nhonor the legacy of Gary W. Rollins and his remarkable 56-year career\nthus far at Rollins. We reflect on his positive impact and outstanding\ncontributions to our company and industry and look forward to his\ncontinued role as Chairman",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000212_segments",
      "report_id": "ID_000212",
      "company_name": "Rollins",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "One reportable segment. But three business lines: Residential, commercial, termite",
      "golden_context": "Page 16:\n\nns Broadcasting, Inc to Rollins, Inc. In 1968, Rollins\nbegan trading on the New York Stock Exchange under the symbol\n“ROL.” Since then, we have grown into a premier consumer and\ncommercial services business with numerous industry leading\nbrands including the world renowned Orkin, as well as HomeTeam\nPest Defense, Clark Pest Control, Western Pest Services, Critter\nControl Wildlife, and Northwest Exterminating, among others.\nWe operate under one reportable segment which contains our\nthree business lines:\n> Residential: Pest control services protecting residential\nproperties from common pests, including rodents, insects and\nwildlife;\n> Commercial: Workplace pest control solutions for customers\nacross diverse end markets such as healthcare, foodservice,\nlogistics; and\n> Termite: Termite protection services and ancillary services for\nboth residential and commercial customers.\nOur Competitive Strengths\nRollins is a global leader in pest control. We have established a\nportfolio of premier brands with extensive service capabilities\nacross a deep operating network. Our scale enables delivery\nof great service and provides a significant and reinforcing\ncompetitive advantage through (i) comprehensive capabilities\nto win new residential and commercial accounts, (ii) technology\ninvestments for operations optimization and enhanced customer\nexperience, (iii) route density to manage variable costs, and\n(iv) financial flexibility to generate organic growth and pu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_cash_flow",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 528m",
      "golden_context": "Page 3:\n\n70+\n19,000+\n14%\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\nEMPLOYEES\nTOTAL REVENUE\nGROWTH\n(2023 OVER 2022)\n2023 Financial Highlights\nWe finished 2023 with a record level of revenues, healthy profitability, and\nstrong cash flow, as demand for our services was strong over the course of the\nyear. Additionally, we continued to execute a balanced capital allocation program,\ndeploying nearly $1 billion of capital in 2023, with a focus on investing for growth,\nreturning cash to shareholders through a growing dividend, and share repurchases.\nOur strong cash flow and balance sheet position us well to continue to invest in\nfuture growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2023 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$3.1B\n+17%\n+11% +13%\n14% GROWTH\n~8% ORGANIC\n~6% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2023 FINANCIAL HIGHLIGHTS\nOPERATING CASH FLOW STRONG BALANCE SHEET & BALANCED\nCAPITAL ALLOCATION STRATEGY\n+13%\n$528M\nADJUSTED EBITDA\n$698M\n22.7% OF REVENUES\nINCREASING 18%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$439M\nINCREASING 19%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.90\nINCREASING 20%\nYEAR OVER YEAR\n$466M\n$32M\nCAPEX\n$264M\nDIVIDENDS\n27%\n3%\n$367M\nACQUISITIONS\n38%\nFY 2022 FY 2023\nGREATER THAN 100%\nCONVERSION OF\nNET INCOME\n$315M\nSHARE\nREPURCHASES\n31%\n0.5x\nNET DEBT TO ADJUSTED\nEBITDA AT 12/31/2023\n10 YEAR TOTAL SHAREHOLDER RETURN\nYEAR(S) RETURN\n458%\n10\nYEARS\n248%\nROLLINS\nS&P 500\nCOMMERCIAL\nS&P 500\n211%\n0 100 200 300 400 500\nHISTORY OF STRONG SHAREHOLDER RETURNS\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations,\nplease refer to our 2023 Form 10-K for the period ending December 31, 2023.\nRollins, Inc. 2023 ANNUAL REPORT |\n1\nTo Our Shareholders, Employees,\nand Valued Customers\nFiscal 2023: A Strong Year of Growth\nIt is an honor to share\nthis letter with you as\nI close out my first\nfull year as CEO of\nour great company.\nWhen I look back\non 2023, I am\nextremely proud of\nthe accomplishments\nwe have achieved\ntogether. We\ndelivered another\nyear of exceptional growth, while continuing to\nmodernize our business and position ourselves for\ncontinued success in the future.\nWe also strategically allocated resources to the\ncommercial side of our business as we seek to\ncapitalize on opportunities within key verticals. Most\nnotably, we have grown our sales force and invested in\ntraining and tools to enable their success. Our service\nquality is high, and our offerings are customized, which\nhelps new sales professionals get up to speed quickly\nand effectively. This is paying off, with 11% commercial\ngrowth for the year.\nWe achieved a record $3+ billion in revenue, up 14%\nversus last year, and grew earnings by approximately\n20 percent, as demand from our customers remained\nstrong throughout the year across all major service\nofferings. We welcomed 24 new businesses into our\nCompany through acquisitions, including the acquisition\nof Fox Pest Control, which was one of the largest\nacquisitions in our company’s history. Our approach to\nintegration has gone well, with the Fox team exceeding\nthe financial targets that we outlined last April.\nBeyond M&A, we continued to invest to drive robust\norganic growth across all service areas. Organic\ngrowth of 8% was bolstered by strong execution of\nour operating strategies. We leveraged our multi-brand,\nmulti-channel approach to differentiate ourselves\nin the market. Digital marketing, cross-selling,\nservice-bundling, and door-to-door sales methods\nhelped us reach new customers and enhanced\nengagement with existing customers to support\nresidential customer growth.\nInvesting in Our People\nOperationally, we remain committed to developing\nexceptional talent and investing in our teams. The hiring\nenvironment improved in 2023 and we put a lot of\nenergy into onboarding the right people in both support\nfunctions, as well as the customer-facing side of our\nbusiness. Effective sales and service staffing levels\nhelped us capitalize on continued strength in demand\nand deliver solid organic growth for the year.\nTo provide our customers with the best customer\nexperience, we must continue to focus on cultivating\nour position as the employer of choice in our industry.\nThis means not only investing in competitive wages\nand benefits, but also providing tools, training and\ndevelopment opportunities that make working at\nRollins an enjoyable and rewarding experience. The\nsuccess and growth of our business creates excellent\nadvancement opportunities for our people.\nAs a reflection of our ongoing efforts, Rollins was\nrecognized for the first time nationally as a 2023 Top\nWorkplace by Energage. Energage is an employer\nresearch firm specializing in studying and highlighting\norganizations across multiple markets and industries.\nThis recognition relies upon the direct input of our team\nmembers and is reflective of the engagement of our\nentire workforce. We are proud of this recognition but\nalso realize we have more work to do as we continue to\ninvest in our most important asset…our people.\n2 | Rollins, Inc. 2023 ANNUAL REPORT\nCulture of Continuous Improvement\nAs a complement to our growth mindset and ongoing\ninvestment in our team members, our dedication to\ncontinuous improvement is an important part of\nour strategy and culture. We are constantly striving\nto improve our service levels and optimize our\nbusiness model.\nOne of our most important areas of focus from a\ncontinuous improvement standpoint is safety. During\n2023 we implemented an app that begins monitoring\ndriving behaviors once our vehicle is in motion. The\napp detects unsafe driving maneuvers associated with\nacceleration, breaking, and speed, then converts data\ncollected into an industry accepted driver safety score.\nI am pleased to report that by year end, our average\ndriver safety score increased more than 30 percent\nfrom the beginning of the year.\nImproving a safety culture isn’t something that is\ndone overnight, but we are proud of the progress\nwe have made and have set ambitious goals for\nourselves to encourage safe behaviors throughout our\norganization. We believe these efforts will improve our\nability to serve customers, help mitigate potentially\nnegative financial impacts on our business, and most\nimportantly, ensure our people return home safely\nevery day.\nOur continuous improvement efforts also center on\ninitiatives intended to modernize our back-office and\nsupport functions. In August of 2023, we executed a\nrestructuring program in our home office intended to\nadvance these modernization efforts and flatten our\noverhead structure. We plan to reinvest cost savings\nfrom this restructuring in both people and systems that\nwill further enable our growth priorities and increase\nproductivity as we work to become a better, more\neffective provider of shared services for our brands.\nIn 2023 we also took several key steps to modernize\nour capital structure, beginning with expansion of\nour credit facility. The enhanced flexibility of this\nfacility enabled us to execute a very balanced capital\nallocation strategy in 2023. We invested approximately\n$367 million in acquisitions, repurchased over\n$300 million of our shares, and paid $264 million\nin dividends. Since the fourth quarter of 2022, we\nhave increased our regular quarterly dividend by\n45 percent and remain committed to growing a\nsustainable dividend.\nWell-Positioned for the Future",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_company_type",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2023\nCommission file No. 1-4422\nROLLINS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 51-0068479\n(State or other jurisdiction of incorporation or organization) 2170 Piedmont Road, N.E., Atlanta, Georgia (Address of principal executive offices) Registrant’s telephone number, including area code:\n(404) 888-2000\n(I.R.S. Employer Identification No.)\n30324\n(Zip Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $1 Par Value ROL The New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act:\nNone.\nIndicate by check mark YES NO\n•\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  \n•\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  \n•\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days.\n ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_key_financials",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "14% total revenue growth, 3.1bn revenue, adjusted EBITDA 698m, adjusted net income 439m",
      "golden_context": "Page 3:\n\n70+\n19,000+\n14%\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\nEMPLOYEES\nTOTAL REVENUE\nGROWTH\n(2023 OVER 2022)\n2023 Financial Highlights\nWe finished 2023 with a record level of revenues, healthy profitability, and\nstrong cash flow, as demand for our services was strong over the course of the\nyear. Additionally, we continued to execute a balanced capital allocation program,\ndeploying nearly $1 billion of capital in 2023, with a focus on investing for growth,\nreturning cash to shareholders through a growing dividend, and share repurchases.\nOur strong cash flow and balance sheet position us well to continue to invest in\nfuture growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2023 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$3.1B\n+17%\n+11% +13%\n14% GROWTH\n~8% ORGANIC\n~6% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2023 FINANCIAL HIGHLIGHTS\nOPERATING CASH FLOW STRONG BALANCE SHEET & BALANCED\nCAPITAL ALLOCATION STRATEGY\n+13%\n$528M\nADJUSTED EBITDA\n$698M\n22.7% OF REVENUES\nINCREASING 18%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$439M\nINCREASING 19%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.90\nINCREASING 20%\nYEAR OVER YEAR\n$466M\n$32M\nCAPEX\n$264M\nDIVIDENDS\n27%\n3%\n$367M\nACQUISITIONS\n38%\nFY 2022 FY 2023\nGREATER THAN 100%\nCONVERSION OF\nNET INCOME\n$315M\nSHARE\nREPURCHASES\n31%\n0.5x\nNET DEBT TO ADJUSTED\nEBITDA AT 12/31/2023\n10 YEAR TOTAL SHAREHOLDER RETURN\nYEAR(S) RETURN\n458%\n10\nYEARS\n248%\nROLLINS\nS&P 500\nCOMMERCIAL\nS&P 500\n211%\n0 100 200 300 400 500\nHISTORY OF STRONG SHAREHOLDER RETURNS\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations,\nplease refer to our 2023 Form 10-K for the period ending December 31, 2023.\nRollins, Inc. 2023 ANNUAL REPORT |\n1\nTo Our Shareholders, Employees,\nand Valued Customers\nFiscal 2023: A Strong Year of Growth\nIt is an honor to share\nthis letter with you as\nI close out my first\nfull year as CEO of\nour great company.\nWhen I look back\non 2023, I am\nextremely proud of\nthe accomplishments\nwe have achieved\ntogether. We\ndelivered another\nyear of exceptional growth, while continuing to\nmodernize our business and position ourselves for\ncontinued success in the future.\nWe also strategically allocated resources to the\ncommercial side of our business as we seek to\ncapitalize on opportunities within key verticals. Most\nnotably, we have grown our sales force and invested in\ntraining and tools to enable their success. Our service\nquality is high, and our offerings are customized, which\nhelps new sales professionals get up to speed quickly\nand effectively. This is paying off, with 11% commercial\ngrowth for the year.\nWe achieved a record $3+ billion in revenue, up 14%\nversus last year, and grew earnings by approximately\n20 percent, as demand from our customers remained\nstrong throughout the year across all major service\nofferings. We welcomed 24 new businesses into our\nCompany through acquisitions, including the acquisition\nof Fox Pest Control, which was one of the largest\nacquisitions in our company’s history. Our approach to\nintegration has gone well, with the Fox team exceeding\nthe financial targets that we outlined last April.\nBeyond M&A, we continued to invest to drive robust\norganic growth across all service areas. Organic\ngrowth of 8% was bolstered by strong execution of\nour operating strategies. We leveraged our multi-brand,\nmulti-channel approach to differentiate ourselves\nin the market. Digital marketing, cross-selling,\nservice-bundling, and door-to-door sales methods\nhelped us reach new customers and enhanced\nengagement with existing customers to support\nresidential customer growth.\nInvesting in Our People\nOperationally, we remain committed to developing\nexceptional talent and investing in our teams. The hiring\nenvironment improved in 2023 and we put a lot of\nenergy into onboarding the right people in both support\nfunctions, as well as the customer-facing side of our\nbusiness. Effective sales and service staffing levels\nhelped us capitalize on continued strength in demand\nand deliver solid organic growth for the year.\nTo provide our customers with the best customer\nexperience, we must continue to focus on cultivating\nour position as the employer of choice in our industry.\nThis means not only investing in competitive wages\nand benefits, but also providing tools, training and\ndevelopment opportunities that make working at\nRollins an enjoyable and rewarding experience. The\nsuccess and growth of our business creates excellent\nadvancement opportunities for our people.\nAs a reflection of our ongoing efforts, Rollins was\nrecognized for the first time nationally as a 2023 Top\nWorkplace by Energage. Energage is an employer\nresearch firm specializing in studying and highlighting\norganizations across multiple markets and industries.\nThis recognition relies upon the direct input of our team\nmembers and is reflective of the engagement of our\nentire workforce. We are proud of this recognition but\nalso realize we have more work to do as we continue to\ninvest in our most important asset…our people.\n2 | Rollins, Inc. 2023 ANNUAL REPORT\nCulture of Continuous Improvement\nAs a complement to our growth mindset and ongoing\ninvestment in our team members, our dedication to\ncontinuous improvement is an important part of\nour strategy and culture. We are constantly striving\nto improve our service levels and optimize our\nbusiness model.\nOne of our most important areas of focus from a\ncontinuous improvement standpoint is safety. During\n2023 we implemented an app that begins monitoring\ndriving behaviors once our vehicle is in motion. The\napp detects unsafe driving maneuvers associated with\nacceleration, breaking, and speed, then converts data\ncollected into an industry accepted driver safety score.\nI am pleased to report that by year end, our average\ndriver safety score increased more than 30 percent\nfrom the beginning of the year.\nImproving a safety culture isn’t something that is\ndone overnight, but we are proud of the progress\nwe have made and have set ambitious goals for\nourselves to encourage safe behaviors throughout our\norganization. We believe these efforts will improve our\nability to serve customers, help mitigate potentially\nnegative financial impacts on our business, and most\nimportantly, ensure our people return home safely\nevery day.\nOur continuous improvement efforts also center on\ninitiatives intended to modernize our back-office and\nsupport functions. In August of 2023, we executed a\nrestructuring program in our home office intended to\nadvance these modernization efforts and flatten our\noverhead structure. We plan to reinvest cost savings\nfrom this restructuring in both people and systems that\nwill further enable our growth priorities and increase\nproductivity as we work to become a better, more\neffective provider of shared services for our brands.\nIn 2023 we also took several key steps to modernize\nour capital structure, beginning with expansion of\nour credit facility. The enhanced flexibility of this\nfacility enabled us to execute a very balanced capital\nallocation strategy in 2023. We invested approximately\n$367 million in acquisitions, repurchased over\n$300 million of our shares, and paid $264 million\nin dividends. Since the fourth quarter of 2022, we\nhave increased our regular quarterly dividend by\n45 percent and remain committed to growing a\nsustainable dividend.\nWell-Positioned for the Future",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_revenue",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "3.1bn",
      "golden_context": "Page 3:\n\n70+\n19,000+\n14%\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\nEMPLOYEES\nTOTAL REVENUE\nGROWTH\n(2023 OVER 2022)\n2023 Financial Highlights\nWe finished 2023 with a record level of revenues, healthy profitability, and\nstrong cash flow, as demand for our services was strong over the course of the\nyear. Additionally, we continued to execute a balanced capital allocation program,\ndeploying nearly $1 billion of capital in 2023, with a focus on investing for growth,\nreturning cash to shareholders through a growing dividend, and share repurchases.\nOur strong cash flow and balance sheet position us well to continue to invest in\nfuture growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2023 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$3.1B\n+17%\n+11% +13%\n14% GROWTH\n~8% ORGANIC\n~6% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2023 FINANCIAL HIGHLIGHTS\nOPERATING CASH FLOW STRONG BALANCE SHEET & BALANCED\nCAPITAL ALLOCATION STRATEGY\n+13%\n$528M\nADJUSTED EBITDA\n$698M\n22.7% OF REVENUES\nINCREASING 18%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$439M\nINCREASING 19%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.90\nINCREASING 20%\nYEAR OVER YEAR\n$466M\n$32M\nCAPEX\n$264M\nDIVIDENDS\n27%\n3%\n$367M\nACQUISITIONS\n38%\nFY 2022 FY 2023\nGREATER THAN 100%\nCONVERSION OF\nNET INCOME\n$315M\nSHARE\nREPURCHASES\n31%\n0.5x\nNET DEBT TO ADJUSTED\nEBITDA AT 12/31/2023\n10 YEAR TOTAL SHAREHOLDER RETURN\nYEAR(S) RETURN\n458%\n10\nYEARS\n248%\nROLLINS\nS&P 500\nCOMMERCIAL\nS&P 500\n211%\n0 100 200 300 400 500\nHISTORY OF STRONG SHAREHOLDER RETURNS\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations,\nplease refer to our 2023 Form 10-K for the period ending December 31, 2023.\nRollins, Inc. 2023 ANNUAL REPORT |\n1\nTo Our Shareholders, Employees,\nand Valued Customers\nFiscal 2023: A Strong Year of Growth\nIt is an honor to share\nthis letter with you as\nI close out my first\nfull year as CEO of\nour great company.\nWhen I look back\non 2023, I am\nextremely proud of\nthe accomplishments\nwe have achieved\ntogether. We\ndelivered another\nyear of exceptional growth, while continuing to\nmodernize our business and position ourselves for\ncontinued success in the future.\nWe also strategically allocated resources to the\ncommercial side of our business as we seek to\ncapitalize on opportunities within key verticals. Most\nnotably, we have grown our sales force and invested in\ntraining and tools to enable their success. Our service\nquality is high, and our offerings are customized, which\nhelps new sales professionals get up to speed quickly\nand effectively. This is paying off, with 11% commercial\ngrowth for the year.\nWe achieved a record $3+ billion in revenue, up 14%\nversus last year, and grew earnings by approximately\n20 percent, as demand from our customers remained\nstrong throughout the year across all major service\nofferings. We welcomed 24 new businesses into our\nCompany through acquisitions, including the acquisition\nof Fox Pest Control, which was one of the largest\nacquisitions in our company’s history. Our approach to\nintegration has gone well, with the Fox team exceeding\nthe financial targets that we outlined last April.\nBeyond M&A, we continued to invest to drive robust\norganic growth across all service areas. Organic\ngrowth of 8% was bolstered by strong execution of\nour operating strategies. We leveraged our multi-brand,\nmulti-channel approach to differentiate ourselves\nin the market. Digital marketing, cross-selling,\nservice-bundling, and door-to-door sales methods\nhelped us reach new customers and enhanced\nengagement with existing customers to support\nresidential customer growth.\nInvesting in Our People\nOperationally, we remain committed to developing\nexceptional talent and investing in our teams. The hiring\nenvironment improved in 2023 and we put a lot of\nenergy into onboarding the right people in both support\nfunctions, as well as the customer-facing side of our\nbusiness. Effective sales and service staffing levels\nhelped us capitalize on continued strength in demand\nand deliver solid organic growth for the year.\nTo provide our customers with the best customer\nexperience, we must continue to focus on cultivating\nour position as the employer of choice in our industry.\nThis means not only investing in competitive wages\nand benefits, but also providing tools, training and\ndevelopment opportunities that make working at\nRollins an enjoyable and rewarding experience. The\nsuccess and growth of our business creates excellent\nadvancement opportunities for our people.\nAs a reflection of our ongoing efforts, Rollins was\nrecognized for the first time nationally as a 2023 Top\nWorkplace by Energage. Energage is an employer\nresearch firm specializing in studying and highlighting\norganizations across multiple markets and industries.\nThis recognition relies upon the direct input of our team\nmembers and is reflective of the engagement of our\nentire workforce. We are proud of this recognition but\nalso realize we have more work to do as we continue to\ninvest in our most important asset…our people.\n2 | Rollins, Inc. 2023 ANNUAL REPORT\nCulture of Continuous Improvement\nAs a complement to our growth mindset and ongoing\ninvestment in our team members, our dedication to\ncontinuous improvement is an important part of\nour strategy and culture. We are constantly striving\nto improve our service levels and optimize our\nbusiness model.\nOne of our most important areas of focus from a\ncontinuous improvement standpoint is safety. During\n2023 we implemented an app that begins monitoring\ndriving behaviors once our vehicle is in motion. The\napp detects unsafe driving maneuvers associated with\nacceleration, breaking, and speed, then converts data\ncollected into an industry accepted driver safety score.\nI am pleased to report that by year end, our average\ndriver safety score increased more than 30 percent\nfrom the beginning of the year.\nImproving a safety culture isn’t something that is\ndone overnight, but we are proud of the progress\nwe have made and have set ambitious goals for\nourselves to encourage safe behaviors throughout our\norganization. We believe these efforts will improve our\nability to serve customers, help mitigate potentially\nnegative financial impacts on our business, and most\nimportantly, ensure our people return home safely\nevery day.\nOur continuous improvement efforts also center on\ninitiatives intended to modernize our back-office and\nsupport functions. In August of 2023, we executed a\nrestructuring program in our home office intended to\nadvance these modernization efforts and flatten our\noverhead structure. We plan to reinvest cost savings\nfrom this restructuring in both people and systems that\nwill further enable our growth priorities and increase\nproductivity as we work to become a better, more\neffective provider of shared services for our brands.\nIn 2023 we also took several key steps to modernize\nour capital structure, beginning with expansion of\nour credit facility. The enhanced flexibility of this\nfacility enabled us to execute a very balanced capital\nallocation strategy in 2023. We invested approximately\n$367 million in acquisitions, repurchased over\n$300 million of our shares, and paid $264 million\nin dividends. Since the fourth quarter of 2022, we\nhave increased our regular quarterly dividend by\n45 percent and remain committed to growing a\nsustainable dividend.\nWell-Positioned for the Future",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_revenue_growth",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "14% total revenue growth",
      "golden_context": "Page 3:\n\n70+\n19,000+\n14%\nTOTAL COUNTRIES\nSERVICED\nWORLDWIDE\nEMPLOYEES\nTOTAL REVENUE\nGROWTH\n(2023 OVER 2022)\n2023 Financial Highlights\nWe finished 2023 with a record level of revenues, healthy profitability, and\nstrong cash flow, as demand for our services was strong over the course of the\nyear. Additionally, we continued to execute a balanced capital allocation program,\ndeploying nearly $1 billion of capital in 2023, with a focus on investing for growth,\nreturning cash to shareholders through a growing dividend, and share repurchases.\nOur strong cash flow and balance sheet position us well to continue to invest in\nfuture growth opportunities.\n– Kenneth D. Krause, Executive Vice President, Chief Financial Officer and Treasurer\nFY 2023 REVENUE GROWTH (YEAR OVER YEAR)\nTOTAL REVENUES\n$3.1B\n+17%\n+11% +13%\n14% GROWTH\n~8% ORGANIC\n~6% ACQUISITION\nRESIDENTIAL\nCOMMERCIAL TERMITE & ANCILLARY\nFY 2023 FINANCIAL HIGHLIGHTS\nOPERATING CASH FLOW STRONG BALANCE SHEET & BALANCED\nCAPITAL ALLOCATION STRATEGY\n+13%\n$528M\nADJUSTED EBITDA\n$698M\n22.7% OF REVENUES\nINCREASING 18%\nYEAR OVER YEAR\nADJUSTED NET INCOME\n$439M\nINCREASING 19%\nYEAR OVER YEAR\nADJUSTED EPS\n$0.90\nINCREASING 20%\nYEAR OVER YEAR\n$466M\n$32M\nCAPEX\n$264M\nDIVIDENDS\n27%\n3%\n$367M\nACQUISITIONS\n38%\nFY 2022 FY 2023\nGREATER THAN 100%\nCONVERSION OF\nNET INCOME\n$315M\nSHARE\nREPURCHASES\n31%\n0.5x\nNET DEBT TO ADJUSTED\nEBITDA AT 12/31/2023\n10 YEAR TOTAL SHAREHOLDER RETURN\nYEAR(S) RETURN\n458%\n10\nYEARS\n248%\nROLLINS\nS&P 500\nCOMMERCIAL\nS&P 500\n211%\n0 100 200 300 400 500\nHISTORY OF STRONG SHAREHOLDER RETURNS\nThis document includes non-GAAP financial measures. For full financial data and non-GAAP reconciliations,\nplease refer to our 2023 Form 10-K for the period ending December 31, 2023.\nRollins, Inc. 2023 ANNUAL REPORT |\n1\nTo Our Shareholders, Employees,\nand Valued Customers\nFiscal 2023: A Strong Year of Growth\nIt is an honor to share\nthis letter with you as\nI close out my first\nfull year as CEO of\nour great company.\nWhen I look back\non 2023, I am\nextremely proud of\nthe accomplishments\nwe have achieved\ntogether. We\ndelivered another\nyear of exceptional growth, while continuing to\nmodernize our business and position ourselves for\ncontinued success in the future.\nWe also strategically allocated resources to the\ncommercial side of our business as we seek to\ncapitalize on opportunities within key verticals. Most\nnotably, we have grown our sales force and invested in\ntraining and tools to enable their success. Our service\nquality is high, and our offerings are customized, which\nhelps new sales professionals get up to speed quickly\nand effectively. This is paying off, with 11% commercial\ngrowth for the year.\nWe achieved a record $3+ billion in revenue, up 14%\nversus last year, and grew earnings by approximately\n20 percent, as demand from our customers remained\nstrong throughout the year across all major service\nofferings. We welcomed 24 new businesses into our\nCompany through acquisitions, including the acquisition\nof Fox Pest Control, which was one of the largest\nacquisitions in our company’s history. Our approach to\nintegration has gone well, with the Fox team exceeding\nthe financial targets that we outlined last April.\nBeyond M&A, we continued to invest to drive robust\norganic growth across all service areas. Organic\ngrowth of 8% was bolstered by strong execution of\nour operating strategies. We leveraged our multi-brand,\nmulti-channel approach to differentiate ourselves\nin the market. Digital marketing, cross-selling,\nservice-bundling, and door-to-door sales methods\nhelped us reach new customers and enhanced\nengagement with existing customers to support\nresidential customer growth.\nInvesting in Our People\nOperationally, we remain committed to developing\nexceptional talent and investing in our teams. The hiring\nenvironment improved in 2023 and we put a lot of\nenergy into onboarding the right people in both support\nfunctions, as well as the customer-facing side of our\nbusiness. Effective sales and service staffing levels\nhelped us capitalize on continued strength in demand\nand deliver solid organic growth for the year.\nTo provide our customers with the best customer\nexperience, we must continue to focus on cultivating\nour position as the employer of choice in our industry.\nThis means not only investing in competitive wages\nand benefits, but also providing tools, training and\ndevelopment opportunities that make working at\nRollins an enjoyable and rewarding experience. The\nsuccess and growth of our business creates excellent\nadvancement opportunities for our people.\nAs a reflection of our ongoing efforts, Rollins was\nrecognized for the first time nationally as a 2023 Top\nWorkplace by Energage. Energage is an employer\nresearch firm specializing in studying and highlighting\norganizations across multiple markets and industries.\nThis recognition relies upon the direct input of our team\nmembers and is reflective of the engagement of our\nentire workforce. We are proud of this recognition but\nalso realize we have more work to do as we continue to\ninvest in our most important asset…our people.\n2 | Rollins, Inc. 2023 ANNUAL REPORT\nCulture of Continuous Improvement\nAs a complement to our growth mindset and ongoing\ninvestment in our team members, our dedication to\ncontinuous improvement is an important part of\nour strategy and culture. We are constantly striving\nto improve our service levels and optimize our\nbusiness model.\nOne of our most important areas of focus from a\ncontinuous improvement standpoint is safety. During\n2023 we implemented an app that begins monitoring\ndriving behaviors once our vehicle is in motion. The\napp detects unsafe driving maneuvers associated with\nacceleration, breaking, and speed, then converts data\ncollected into an industry accepted driver safety score.\nI am pleased to report that by year end, our average\ndriver safety score increased more than 30 percent\nfrom the beginning of the year.\nImproving a safety culture isn’t something that is\ndone overnight, but we are proud of the progress\nwe have made and have set ambitious goals for\nourselves to encourage safe behaviors throughout our\norganization. We believe these efforts will improve our\nability to serve customers, help mitigate potentially\nnegative financial impacts on our business, and most\nimportantly, ensure our people return home safely\nevery day.\nOur continuous improvement efforts also center on\ninitiatives intended to modernize our back-office and\nsupport functions. In August of 2023, we executed a\nrestructuring program in our home office intended to\nadvance these modernization efforts and flatten our\noverhead structure. We plan to reinvest cost savings\nfrom this restructuring in both people and systems that\nwill further enable our growth priorities and increase\nproductivity as we work to become a better, more\neffective provider of shared services for our brands.\nIn 2023 we also took several key steps to modernize\nour capital structure, beginning with expansion of\nour credit facility. The enhanced flexibility of this\nfacility enabled us to execute a very balanced capital\nallocation strategy in 2023. We invested approximately\n$367 million in acquisitions, repurchased over\n$300 million of our shares, and paid $264 million\nin dividends. Since the fourth quarter of 2022, we\nhave increased our regular quarterly dividend by\n45 percent and remain committed to growing a\nsustainable dividend.\nWell-Positioned for the Future",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000213_segments",
      "report_id": "ID_000213",
      "company_name": "Rollins",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "One reporting segment, but three service offerings: Residential, commercial, termite",
      "golden_context": "Page 12:\n\nollins, Inc. In 1968, Rollins began\ntrading on the New York Stock Exchange under the symbol\n“ROL.” Since then, we have grown into a premier consumer\nand commercial services business with numerous industry\nleading brands including the world renowned Orkin, as well\nas HomeTeam Pest Defense, Clark Pest Control, Western Pest\nServices, Critter Control Wildlife, Northwest Exterminating, and\nFox Pest Control, among others.\nPest control generally consists of assessing a customer’s\nproperty for conditions that invite pests, tackling current\ninfestations, and stopping the life cycle to prevent future\ninvaders. Termite protection programs include liquid treatments,\nwet and dry foam applications, termite baiting and wood\ntreatments. We operate under one reportable segment which\ncontains our three service offerings:\n> Residential: Pest control services protecting residential\nproperties from common pests, including rodents, insects and\nwildlife;\n> Commercial: Workplace pest control solutions for customers\nacross diverse end markets such as healthcare, food service,\nlogistics; and\n> Termite: Termite protection services and ancillary services for\nboth residential and commercial customers.\nRisk factors associated with our business are discussed in\nItem 1A. “Risk Factors.”\n10 | Rollins, Inc. 2023 ANNUAL REPORT\nOur Strategic Objectives\nWe regularly assess the business environment, as well as our\nown strengths and opportunities, and have aligned around key\nstrategic objectives that will help us to drive continued success\nfor Rollins.\nPeople First\nWe promote a people first mindset that prioritizes the well-being\nand development of the individual, as well as our collective\nteam, in all aspects of our business. To provide our customers\nwith the best customer experience, we must focus on cultivating\nour position as the employer of choice in our industry. This\nmeans not only investing in competitive wages and benefits, but\nalso providing tools, training and development opportunities that\ndrive a high level of employee engagement.\nCustomer Loyalty\nWe focus on creating the best customer experience that will\nenable a loyal customer base and in turn reduce the amount\nof churn across our customer base. This starts with our people\nand the interactions they have with our customers. By focusing\non this key objective, we expect it to enable growth that will\noutpace our market growth.\nGrowth Mindset\nA growth mindset helps us consider ways to improve and best\nposition our business. Our focus here is to identify changes that\nmay present both risks and opportunities to our business. We\nfocus on evaluating changes in the markets we compete in but\nalso across other industries to continue to identify changing\ndynamics that may impact our people and our customers that\nmay impact our position in the markets we compete.\nOperational Efficiency\nAs a complement to our growth mindset, our dedication to\ncontinuous improvement and operational efficiency is another\nkey tenet of our strategy and culture. We approach our operations\nfrom the perspective that everything we do can be improved\nupon. We are constantly striving to improve our service levels by\noptimizing our business model and modernizing our business.\nWe believe that our alignment around the key strategic areas\nwill enable us to grow faster than our market, position our\nbusiness for the future, and deliver value for all stakeholders,\nincluding our customers, our employees, our communities and\nour shareholders.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_cash_flow",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating activities 313490k, investing activities -849614k, financing activities 526131k, total cash flow -9807k",
      "golden_context": "Page 58:\n\nPOOL CORPORATION\nConsolidated Statements of Cash Flow s\n(In thousands)\nY ear E nded December 31,\n2021 2020 2019\nOperating activ ities\nNet income $ 650,624 $ 366,738 $ 261,575\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 28,287 27,967 27,885\nAmortization 1,739 1,431 1,389\nShare-based compensation 15,187 14,516 13,472\nProvision for doubtful accounts receivable, net of write-offs 1,134 (664) (710)\nProvision for inventory obsolescence, net of write-offs 3,798 2,362 1,310\nProvision (benefit) for deferred income tax es 4,650 (2,542) 3,723\n(G ains) losses on sales of property and equipment (93) 38 (85)\nEquity in earnings in unconsolidated investments, net (291) (295) (262)\nNet losses on foreign currency transactions 325 1,748 1,347\nImpairment of goodwill and other assets— 6,944 —\nOther 473 410 3,313\nChanges in operating assets and liabilities, net of effects of acquisitions:\nReceivables (79,940) (38,688) (15,691)\nProduct inventories (525,207) (42,447) (14,165)\nPrepaid ex penses and other assets (51,199) (13,744) (4,218)\nAccounts payable 114,893 (9,212) 16,860\nAccrued ex penses and other current liabilities 149,110 83,019 3,033\nNet cash provided by operating activities 313,490 397,581 298,776\nInv esting activ ities\nAcquisition of businesses, net of cash acquired (811,956) (124,587) (8,901)\nPurchases of property and equipment, net of sale proceeds (37,658) (21,702) (33,362)\nNet cash used in investing activities (849,614) (146,289) (42,263)\nFinancing activ ities\nProceeds from revolving line of credit 1,438,408 1,053,968 1,066,529\nPayments on revolving line of credit (974,506) (1,145,616) (1,415,988)\nProceeds from term loan under credit facility 250,000 — —\nProceeds from asset-backed financing 495,000 326,700 189,000\nPayments on asset-backed financing (430,000) (321,700) (182,500)\nProceeds from term facility— — 185,000\nPayments on term facility (9,250) (9,250) —\nProceeds from short-term borrowings and current portion of long-term debt 9,279 13,822 30,863\nPayments on short-term borrowings and current portion of long-term debt (9,377) (13,698) (28,286)\nPayments of deferred financing costs (2,638) (12) (406)\nPayments on deferred and contingent acquisition consideration (362) (281) (312)\nProceeds from stock issued under share-based compensation plans 17,197 19,824 18,574\nPayments of cash dividends (119,581) (91,929) (83,772)\nPurchases of treasury stock (138,039) (76,199) (23,188)\nNet cash provided by (used in) financing activities 526,131 (244,371) (244,486)\nEffect of ex change rate changes on cash and cash equivalents 186 (1,376) 198\nChange in cash and cash equivalents (9,807) 5,545 12,225\nCash and cash equivalents at beginning of year 34,128 28,583 16,358\nCash and cash equivalents at end of year $ 24,321 $ 34,128 $ 28,583\nThe accompanying Notes are an integral part of these Consolidated Financial Statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_company_type",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nX ANNU AL RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n_x0000_ TRANSITION RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 0-26640\nPOOL CORPORATION\n(Ex act name of registrant as specified in its charter)\nDelaw are 36-3943363\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n109 Northpark Boulev ard,\nCov ington,Louisiana 70433-5001\n(Address of principal ex ecutive offices) (Zip Code)\n(985) 892-5521\n(Registrant’s telephone number, including area code)\nTitle of each class Common Stock, par value $0.001 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) POOL Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nName of each exchange on w hich registered\nNasdaq G lobal Select Market\nY es x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nY es ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Ex change Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nY es x No ¨",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_key_financials",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 5295585k, EPS attributable to common stockholders basic 16.21, EPS attributable to common stockholders diluted 15.97, net income 650624k",
      "golden_context": "Page 55:\n\nPOOL CORPORATION\nConsolidated Statements of Income\n(In thousands, ex cept per share data)\nY ear E nded December 31,\n2021 2020 2019\nNet sales $ 5,295,584 $ 3,936,623 $ 3,199,517\nCost of sales 3,678,492 2,805,721 2,274,592\nG ross profit 1,617,092 1,130,902 924,925\nSelling and administrative ex penses 786,808 659,931 583,679\n(Recovery) impairment of goodwill and other assets (2,500) 6,944 —\nOperating income 832,784 464,027 341,246\nInterest and other non-operating ex penses, net 8,639 12,353 23,772\nIncome before income tax es and equity in earnings 824,145 451,674 317,474\nProvision for income tax es 173,812 85,231 56,161\nEquity in earnings in unconsolidated investments, net 291 295 262\nNet income $ 650,624 $ 366,738 $ 261,575\nEarnings per share attributable to common stockholders:\nBasic Diluted $ 16.21 $ 9.14 $ 6.57\n$ 15.97 $ 8.97 $ 6.40\nWeighted average common shares outstanding:\nBasic 39,876 40,106 39,833\nDiluted 40,480 40,865 40,865\nCash dividends declared per common share $ 2.98 $ 2.29 $ 2.10\nThe accompanying Notes are an integral part of these Consolidated Financial Statem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_revenue",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 5295584k, prior year 3936623k",
      "golden_context": "Page 55:\n\nPOOL CORPORATION\nConsolidated Statements of Income\n(In thousands, ex cept per share data)\nY ear E nded December 31,\n2021 2020 2019\nNet sales $ 5,295,584 $ 3,936,623 $ 3,199,517\nCost of sales 3,678,492 2,805,721 2,274,592\nG ross profit 1,617,092 1,130,902 924,925\nSelling and administrative ex penses 786,808 659,931 583,679\n(Recovery) impairment of goodwill and other assets (2,500) 6,944 —\nOperating income 832,784 464,027 341,246\nInterest and other non-operating ex penses, net 8,639 12,353 23,772\nIncome before income tax es and equity in earnings 824,145 451,674 317,474\nProvision for income tax es 173,812 85,231 56,161\nEquity in earnings in unconsolidated investments, net 291 295 262\nNet income $ 650,624 $ 366,738 $ 261,575\nEarnings per share attributable to common stockholders:\nBasic Diluted $ 16.21 $ 9.14 $ 6.57\n$ 15.97 $ 8.97 $ 6.40\nWeighted average common shares outstanding:\nBasic 39,876 40,106 39,833\nDiluted 40,480 40,865 40,865\nCash dividends declared per common share $ 2.98 $ 2.29 $ 2.10\nThe accompanying Notes are an integral part of these Consolidated Financial Statem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_revenue_growth",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 5295584k, prior year 3936623k",
      "golden_context": "Page 55:\n\nPOOL CORPORATION\nConsolidated Statements of Income\n(In thousands, ex cept per share data)\nY ear E nded December 31,\n2021 2020 2019\nNet sales $ 5,295,584 $ 3,936,623 $ 3,199,517\nCost of sales 3,678,492 2,805,721 2,274,592\nG ross profit 1,617,092 1,130,902 924,925\nSelling and administrative ex penses 786,808 659,931 583,679\n(Recovery) impairment of goodwill and other assets (2,500) 6,944 —\nOperating income 832,784 464,027 341,246\nInterest and other non-operating ex penses, net 8,639 12,353 23,772\nIncome before income tax es and equity in earnings 824,145 451,674 317,474\nProvision for income tax es 173,812 85,231 56,161\nEquity in earnings in unconsolidated investments, net 291 295 262\nNet income $ 650,624 $ 366,738 $ 261,575\nEarnings per share attributable to common stockholders:\nBasic Diluted $ 16.21 $ 9.14 $ 6.57\n$ 15.97 $ 8.97 $ 6.40\nWeighted average common shares outstanding:\nBasic 39,876 40,106 39,833\nDiluted 40,480 40,865 40,865\nCash dividends declared per common share $ 2.98 $ 2.29 $ 2.10\nThe accompanying Notes are an integral part of these Consolidated Financial Statem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000214_segments",
      "report_id": "ID_000214",
      "company_name": "Pool",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 61:\n\not impact our results of operations, statement of financial position or cash flows.\nOn January 1, 2020, we adopted ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer\n’\ns Accounting for Implementation Costs\nIncurred in a Cloud Computing Arrangement That Is a Service Contract, on a prospective basis. This new standard aligns the requirements for capitalizing implementation costs\nincurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and\nhosting arrangements that include an internal-use software license. The adoption of this guidance did not materially impact our results of operations, statement of financial\nposition or cash flows.\nSegment Reporting\nSince all of our sales centers have similar operations and share similar economic characteristics, we aggregate our sales centers into a single reportable segment. These similarities\ninclude (i) the nature of our products and services, (ii) the types of customers we sell to and (iii) the distribution methods we use. Our chief operating decision maker (CODM)\nevaluates each sales center based on individual performance that includes both financial and operational measures. These measures include operating income growth and\naccounts receivable and inventory management criteria. Each sales center manager and eligible field employee earns performance-based compensation based on these measures\ndeveloped at the sales center level.\nA bottom-up approach is used to develop the operating budget for each individual sales center. The CODM approves the budget and routinely monitors budget to actual results\nfor each sales center. Additionally, our CODM makes resource allocation decisions primarily on a sales center-by-sales center basis. No single sales center meets any of the\nquantitative thresholds (10% of revenues, profit or assets) for separately reporting information about an operating segment. We do not track sales by product lines and product\ncategories on a consolidated basis. We lack readily available financial information due to the number of our product lines and product categories and the fact that we make\nongoing changes to product classifications within these groups, thus making it impracticable to report our sales by product category.\nSeasonality and Weather\nOur business is seasonal and weather is one of the principal ex ternal factors affecting our business. In general, sales and net income are highest during the second and third\nquarters, which represent the pe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_cash_flow",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 484854k, investing: -50870k, financing: -411658k",
      "golden_context": "Page 44:\n\n and information technology. We focus our capital ex penditure plans based on the\nneeds of our sales centers. Historically, our capital ex penditures have averaged roughly 1.0% of net sales. Capital ex penditures were 0.7% of net sales in 2022 and 2021 and 0.6% of\nnet sales in 2020. Since 2020, our capital ex penditures as a percentage of net sales were lower than our historical average due to our significant sales growth. Capital ex penditures in\n2020 were also lower due to cost-saving measures implemented at the beginning of the COV ID-19 pandemic. Based on management’s current plans, we project capital ex penditures\nfor 2023 will continue to approx imate the historical average of 1% of net sales. We also plan to increase our investment in technology and automation enabling us to operate more\nefficiently.\nWe believe we have adequate availability of capital to fund present operations and the current capacity to finance any working capital needs that may arise. We continually\nevaluate potential acquisitions and hold discussions with acquisition candidates. If suitable acquisition opportunities arise that would require financing, we believe that we have\nthe ability to finance any such transactions.\nAs of February 17, 2023, $230.2 million of the current Board authorized amount under our authorized share repurchase plan remained available. We ex pect to repurchase additional\nshares in the open market from time to time depending on market conditions. We plan to fund these repurchases with cash provided by operations and borrowings under our\ncredit and receivables facilities.\nSources and U ses of Cash\nThe following table summarizes our cash flows (in thousands):\nY ear E nded December 31,\n2022 2021\nOperating activities $ 484,854 $ 313,490\nInvesting activities (50,870) (849,614)\nFinancing activities (411,658) 526,131\nCash provided by operations of $484.9 million for 2022 increased $171.4 million compared to 2021, primarily driven by an increase in net income and changes in working capital. Our\noperating cash flows were also impacted by federal tax payments of $79.5 million in 2022, which were allowed to be deferred and included in accrued ex penses and other liabilities at\nDecember 31, 2021.\nCash used in investing activities decreased $798.7 million to $50.9 million in 2022, reflecting a decrease of $802.7 million in payments for acquisitions compared to 2021, partially\noffset by a $6.0 million increase in net capital ex penditures between years. Our higher 2021 investing activities were driven by our purchase of Porpoise Pool & Patio, Inc. for $788.7\nmillion.\nCash used in financing activities was $411.7 million in 2022 compared to cash provided by financing activities of $526.1 million in 2021. The change in financing activities primarily\nreflects a $566.7 million increase in net debt payments, additional share repurchases of $333.2 million and an increase in dividends paid of $31.0 million.\nFor a discussion of our sources and uses of cash in 2020, see the Liquidity and Capital Resources – Sources a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_company_type",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nX ANNU AL RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n_x0000_ TRANSITION RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 0-26640\nPOOL CORPORATION\n(Ex act name of registrant as specified in its charter)\nDelaw are 36-3943363\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n109 Northpark Boulev ard,\nCov ington,Louisiana 70433-5001\n(Address of principal ex ecutive offices) (Zip Code)\n(985) 892-5521\n(Registrant’s telephone number, including area code)\nTitle of each class Common Stock, par value $0.001 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) POOL Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nName of each exchange on w hich registered\nNasdaq G lobal Select Market\nY es x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nY es ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Ex change Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_key_financials",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net income 748462k, weighted average common shares outstanding basic 39409k, EPS attributable to common stockholders basic 18.89, diluted 18.70",
      "golden_context": "Page 79:\n\note 8 - E arnings Per Share\nWe calculate basic and diluted earnings per share using the two-class method. Earnings per share under the two-class method is calculated using net income attributable to\ncommon stockholders, which is net income reduced by the earnings allocated to participating securities. Our participating securities include share-based payment awards that\ncontain a non-forfeitable right to receive dividends and are considered to participate in undistributed earnings with common shareholders. Participating securities ex cluded from\nweighted average common shares outstanding were 221,000 for the year ended December 31, 2022 and 268,000 for the year ended December 31, 2021.\nThe table below presents the computation of earnings per share, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, ex cept per\nshare data):\nY ear E nded December 31,\n2022 2021 2020\nNet income $ 748,462 $ 650,624 $ 366,738\nAmounts allocated to participating securities (4,151) (4,321) —\nNet income attributable to common stockholders $ 744,311 $ 646,303 $ 366,738\nWeighted average common shares outstanding:\nBasic 39,409 39,876 40,106\nEffect of dilutive securities:\nStock options and employee stock purchase plan 397 604 759\nDiluted 39,806 40,480 40,865\nEarnings per share attributable to common stockholders:\nBasic Diluted $ 18.89 $ 16.21 $ 9.14\n$ 18.70 $ 15.97 $ 8.97\n(1)\nAnti-dilutive stock options ex cluded from diluted earnings per share computations (1)\n34 1 —\nSince these options have ex ercise prices that are higher than the average market prices of our common stock, including them in the calculation would have an anti-dilutive\neffect on earnings per share.\nNote 9 - Commitments and Contingencies\nCommitments\nWe lease facilities for our corporate and administrative offices, sales centers and centralized shipping locations under operating leases that ex pire in various years through 2036.\nMost of our leases contain five-year ter",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_revenue",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "6179.7m",
      "golden_context": "Page 39:\n\net Sales\n(in millions) Net sales Y ear E nded December 31,\n2022 2021 Change\n$ 6,179.7 $ 5,295.6 $ 884.1 17%\nNet sales increased 17% compared to 2021, with 12% of this increase resulting from base business sales growth. Our 2022 results were driven by elevated price inflation and\nsustained demand for outdoor-living products. Sales growth in our seasonally significant quarters (second and third quarters) were limited by industry capacity, including labor\nand supply chain constraints and less favorable weather conditions on a year-over-year comparison. We observed improvements in our supply chain dynamics in 2022 following\nthe challenges that began in the second half of 2021 through early 2022.\nThe following factors benefited our sales growth (listed in order of estimated magnitude):\n• inflationary product cost increases of approx imately 10% (compared to 7% to 8% in 2021);\n• 5% sales growth from recent acquisitions\n• favorable trends for our products including:\n◦ consistent demand for discretionary products, as evidenced by higher sales for product offerings such as equipment and building materials (see discussion\nbelow);\n◦ market share gains, including those in building materials (see discussion below); and\n◦ sustained demand for residential swimming pool maintenance supplies, as the installed base of pools continues to grow.\nFollowing our robust 33% sales growth (and 26% base business sales growth) in the first quarter of 2022, results through the remainder of the year were limited by several factors.\nWe estimate that the benefits discussed above were partially offset by the following:\n• 1% impact from softness in our European markets, reflecting the impact of the macro-economic environment;\n• 1% unfavorable impact from currency ex change rate fluctuations; and\n• less favorable weather conditions compared to last year, particularly in our seasonal markets (see discussion below).\nHigher sales for certain product offerings, such as equipment and building materials, indicate consistent demand in traditionally discretionary areas, such as pool construction,\npool remodeling and equipment upgrades. In 2022, sales of equipment for our base business, which includes swimming pool heaters, pumps, lights, filters and automation,\nincreased approx imately 9% compared to 2021 and represented approx imately 28% of net sales (or an increase of 17% representing approx imately 29% of net sales including our\nrecent acquisition of Porpoise). Equipment growth for certain products was limited by continued supply chain constraints. Sales of building materials grew 18% compared to 2021\nand represented approx imately 13% of net sales in 2022. Sales of chemicals for our base business, representing 11% of total net sales, increased 32% compared to 2021 (or an\nincrease of 57% representing approx imately 13% of net sales including the impact of our December 2021 acquisition of Porpoise). The increase in chemical sales was driven by\ninflation, improved supply over last year and strong demand for non-discretionary maintenance products.\nSales to specialty retailers that sell swimmin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_revenue_growth",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "6179.7m, prior year 5295.6m",
      "golden_context": "Page 39:\n\net Sales\n(in millions) Net sales Y ear E nded December 31,\n2022 2021 Change\n$ 6,179.7 $ 5,295.6 $ 884.1 17%\nNet sales increased 17% compared to 2021, with 12% of this increase resulting from base business sales growth. Our 2022 results were driven by elevated price inflation and\nsustained demand for outdoor-living products. Sales growth in our seasonally significant quarters (second and third quarters) were limited by industry capacity, including labor\nand supply chain constraints and less favorable weather conditions on a year-over-year comparison. We observed improvements in our supply chain dynamics in 2022 following\nthe challenges that began in the second half of 2021 through early 2022.\nThe following factors benefited our sales growth (listed in order of estimated magnitude):\n• inflationary product cost increases of approx imately 10% (compared to 7% to 8% in 2021);\n• 5% sales growth from recent acquisitions\n• favorable trends for our products including:\n◦ consistent demand for discretionary products, as evidenced by higher sales for product offerings such as equipment and building materials (see discussion\nbelow);\n◦ market share gains, including those in building materials (see discussion below); and\n◦ sustained demand for residential swimming pool maintenance supplies, as the installed base of pools continues to grow.\nFollowing our robust 33% sales growth (and 26% base business sales growth) in the first quarter of 2022, results through the remainder of the year were limited by several factors.\nWe estimate that the benefits discussed above were partially offset by the following:\n• 1% impact from softness in our European markets, reflecting the impact of the macro-economic environment;\n• 1% unfavorable impact from currency ex change rate fluctuations; and\n• less favorable weather conditions compared to last year, particularly in our seasonal markets (see discussion below).\nHigher sales for certain product offerings, such as equipment and building materials, indicate consistent demand in traditionally discretionary areas, such as pool construction,\npool remodeling and equipment upgrades. In 2022, sales of equipment for our base business, which includes swimming pool heaters, pumps, lights, filters and automation,\nincreased approx imately 9% compared to 2021 and represented approx imately 28% of net sales (or an increase of 17% representing approx imately 29% of net sales including our\nrecent acquisition of Porpoise). Equipment growth for certain products was limited by continued supply chain constraints. Sales of building materials grew 18% compared to 2021\nand represented approx imately 13% of net sales in 2022. Sales of chemicals for our base business, representing 11% of total net sales, increased 32% compared to 2021 (or an\nincrease of 57% representing approx imately 13% of net sales including the impact of our December 2021 acquisition of Porpoise). The increase in chemical sales was driven by\ninflation, improved supply over last year and strong demand for non-discretionary maintenance products.\nSales to specialty retailers that sell swimmin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000215_segments",
      "report_id": "ID_000215",
      "company_name": "Pool",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "single reportable segment",
      "golden_context": "Page 43:\n\nefited sales in the third quarter of 2021 with most of the United States ex periencing above-average\ntemperatures and below-average precipitation.\nWe observed generally unfavorable weather conditions throughout the fourth quarter of 2022, particularly in the month of December when an Arctic front brought freezing\ntemperatures and above-average precipitation across much of the United States. Conditions were especially impactful in Canada and the Northeast compared to the prior year. In\ncontrast, sales in the fourth quarter of 2021 benefited from above-average temperatures throughout much of the contiguous United States, including the fifth warmest December on\nrecord in a 127-year period.\nWeather Impacts on Fiscal Year 2021 to Fiscal Year 2020 Comparisons\nFor a detailed discussion of Weather Impacts on Fiscal Y ear 2021 compared to Fiscal Y ear 2020, see the Seasonality and Quarterly Fluctuations section of Management’s\nDiscussion and Analysis included in Part II, Item 7 of our 2021 Annual Report on Form 10-K.\nGeographic Areas\nSince all of our sales centers have similar operations and share similar economic characteristics, we aggregate our sales centers into a single reportable segment. For additional\ndetails, see Note 1 of our \"Notes to Consolidated Financial Statements,\n” included in Item 8 of this Form 10-K.\nFor a breakdown of net sales and property, plant and equipment between our United States and international operations, see Item 1,\n\"Business,\n” of this Form 10-K.\nLIQU IDITY AND CAPITAL RE SOU RCE S\nLiquidity is defined as the ability to generate adequate amounts of cash to meet short-term and long-term cash needs. We assess our liquidity in terms of our ability to generate\ncash to fund our operating activities, taking into consideration the seasonal nature of our business. Significant factors which could affect our liquidity include the following:\n• cash flows generated from operating activities;\n• the adequacy of available bank lines of credit;\n• the quality of our receivables;\n• acquisitions;\n• dividend payments;\n• capital ex penditures;\n• changes in income tax laws and regulations;\n• the timing and ex tent of share repurchases; and\n• the ability to attract long-term capital with satisfactory terms.\nOur primary capital needs are seasonal working capital obligations, debt repayment obligations and other general corporate initiatives, including acquisitions, opening new sales\ncenters, dividend payments and share repurchases. Our primary working capital obligations are for the purchase of inventory, payroll, rent, other facility costs and selling and\nadministrative ex penses. Our working capital obligations fluctuate during the year, driven primarily by seasonality and the timing of inventory purchases. Our primary sources of\nworking capital are cash from operations supplemented by bank borrowings, which have historically been sufficient to support our growth and finance acquisitions. We have\nfunded our capital ex penditures and share repurchases in substantially the same manner.\nWe prioritize our use of cash based on investing in our business, maintaining a prudent capital structure, including a modest amount of debt, and returning cash to our\nshareholders through dividends and share repurchases. Our specific priorities for the use of cash are as follows:\n• capital ex penditures primarily for maintenance and growth of our sales center network, technology-related investments and fleet vehicles;\n• inventory and other operating ex penses;\n• strategic acquisitions ex ecuted opportunistically;\n• payment of cash dividends as and when declared by our Board;\n• repayment of debt to maintain an average total target leverage ratio (as ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_cash_flow",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 888229k, investing: -71597k, financing: -798132k",
      "golden_context": "Page 46:\n\ne total target leverage ratio (as defined below) between 1.5 and 2.0; and\n• discretionary repurchases of our common stock under our Board authorized share repurchase program.\nOur capital spending primarily relates to leasehold improvements, delivery and service vehicles and information technology. We focus our capital ex penditure plans based on the\nneeds of our sales centers. In recent years, we have increased our investment in technology and automation enabling us to operate more efficiently and better serve our customers.\nHistorically, our capital ex penditures have averaged roughly 1.0% of net sales. Capital ex penditures were 1.1% of net sales in 2023 and 0.7% of net sales in 2022 and 2021. In 2022\nand 2021, our capital ex penditures as a percentage of net sales were lower than our historical average due to our significant sales growth in those years. Based on management’s\ncurrent plans, we project capital ex penditures for 2024 will average 1% to 1.5% of net sales.\nWe believe we have adequate availability of capital to fund present operations and the current capacity to finance any working capital needs that may arise. We continually\nevaluate potential acquisitions and hold discussions with acquisition candidates. If suitable acquisition opportunities arise that would require financing, we believe that we have\nthe ability to finance any such transactions.\nAs of February 20, 2024, $344.1 million of the current Board authorized amount under our authorized share repurchase plan remained available. We ex pect to repurchase additional\nshares in the open market from time to time depending on market conditions. We plan to fund these repurchases with cash provided by operations and borrowings under our\ncredit and receivables facilities.\nSources and U ses of Cash\nThe following table summarizes our cash flows (in thousands):\nY ear E nded December 31,\n2023 2022\nOperating activities $ 888,229 $ 484,854\nInvesting activities (71,597) (50,870)\nFinancing activities (798,132) (411,658)\nCash provided by operations of $888.2 million for 2023 increased $403.4 million compared to 2022, primarily driven by positive changes in working capital, particularly as we sold\nthrough our prior year strategic inventory purchases, partially offset by lower net income.\nCash used in investing activities increased $20.7 million to $71.6 million in 2023, reflecting a $16.5 million increase in net capital ex penditures between years and an increase of $2.3\nmillion in payments for acquisitions compared to 2022.\nCash used in financing activities increased to $798.1 million in 2023 compared to $411.7 million in 2022. The change in financing activities primarily reflects a $537.0 million increase\nin net debt payments and a $16.8 million increase in dividends paid, partially offset by a decrease in share repurchases of $164.9 million.\nFor a discussion of our sources and uses of cash in 2021, see the Liquidity and Capital Resources – Sources and Uses of Cash section of Management’s Discussion and Analysis\nincluded in Part II, Item 7 of our 2022 Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_company_type",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\nX ANNU AL RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n_x0000_ TRANSITION RE PORT PU RSU ANT TO SE CTION 13 OR 15(d) OF THE SE CU RITIE S E XCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 0-26640\nPOOL CORPORATION\n(Ex act name of registrant as specified in its charter)\nDelaw are 36-3943363\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n109 Northpark Boulev ard,\nCov ington,Louisiana 70433-5001\n(Address of principal ex ecutive offices) (Zip Code)\n(985) 892-5521\n(Registrant’s telephone number, including area code)\nTitle of each class Common Stock, par value $0.001 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) POOL Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nName of each exchange on w hich registered\nNasdaq G lobal Select Market\nY es x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nY es ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Ex change Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_key_financials",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net sales decreased 10%, to 5.5bn, gross profit was 1.7bn, 14% decrease.",
      "golden_context": "Page 32:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nFor a discussion of our base business calculations, see the RESULTS OF OPERATIONS section below.\n2023 FINANCIAL OVE RVIE W\nFinancial Results\nFollowing a period of significant growth over the prior three years, net sales decreased 10% to $5.5 billion in 2023 compared to $6.2 billion in 2022, resulting in a compound annual\ngrowth rate (CAG R) of 15% from 2019 to 2023. Base business results approx imated consolidated results for 2023. Our net sales benefited approx imately 3% to 4% from inflationary\nproduct cost increases in 2023 versus a benefit of 10% in 2022. Unfavorable weather conditions in certain markets throughout the first half of the year resulted in a slow start to the\nswimming pool season and slower maintenance activity than anticipated, limiting sales in the first and second quarters. Our results were also impacted by lower volumes of\ndiscretionary pool products sold due to reduced pool construction activity and discretionary replacement activity.\nG ross profit was $1.7 billion in 2023, a 14% decrease from gross profit of $1.9 billion in 2022. Our gross profit increased at a 16% CAG R from 2019 to 2023. G ross margin declined 130\nbasis points to 30.0% in 2023 compared to 31.3% in 2022. Our 2023 gross margin is in line with our longer-term annual gross margin outlook, while our prior year gross margin\nbenefited from higher levels of inflation and price increases.\nSelling and administrative ex penses (operating ex penses) increased 0.6%, or $5.8 million, to $913.5 million in 2023. As a percentage of net sales, operating ex penses increased 180\nbasis points to 16.5% in 2023 compared to 14.7% in 2022. During 2023, volume-driven ex penses were managed in line with lower sales, and our largest ex pense growth drivers\nrelated to inflationary wage increases, rent and facility costs and insurance and healthcare-related costs.\nOperating income for the year decreased 27% to $746.6 million, down from $1.0 billion in 2022. Our operating income increased at a 22% CAG R from 2019 to 2023. Operating margin\ndecreased 310 basis points to 13.5% in 2023 compared to 16.6% in 2022.\nInterest and other non-operating ex penses, net for the year increased $17.5 million compared to 2022, as higher average interest rates more than offset a decrease in average debt.\nWe recorded a $6.7 million, or $0.17 per diluted share, tax benefit from Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment\nAccounting, for the year ended December 31, 2023 compared to a tax benefit of $10.8 million, or $0.27 per diluted share, realized in 2022.\nNet income declined 30% to $523.2 million in 2023 compared to $748.5 million in 2022. Earnings per share decreased 29% to $13.35 per diluted share compared to a record of $18.70\nper diluted share in 2022. Without the impact from ASU 2016-09 in both periods, earnings per diluted share decreased 28% to $13.18 per diluted share compared to $18.43 per\ndiluted share in 2022. From 2019 to 2023, our earnings per diluted share increased by a 20% CAG R and a 23% CAG R without the impact from ASU 2016-19. See RESUL TS OF\nOPERATIONS below for definitions of our non-G AAP measures and reconciliations of our non-G AAP measures to G AAP measures.\nFinancial Position and Liquidity\nCash provided by operations was $888.2 million in 2023, which funded the following initiatives:\n• a $333.5 million debt reduction\n• share repurchases, totaling $306.4 million for the year;\n• quarterly cash dividend payments to shareholders, totaling $167.5 million for the year; and\n• net capital ex penditures and acquisitions of $71.6 million.\nTotal net receivables, including pledged receivables, decreased 2% compared to December 31, 2022, primarily due to lower sales in 2023. Our allowance for doubtful accounts was\n$11.7 million at December 31, 2023 and $9.5 million at December 31, 2022. Our days sales outstanding ratio, as calculated on a trailing four quarters basis, was 26.8 days at\nDecember 31, 2023 and 26.9 days at December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_revenue",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "5.5bn",
      "golden_context": "Page 32:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nFor a discussion of our base business calculations, see the RESULTS OF OPERATIONS section below.\n2023 FINANCIAL OVE RVIE W\nFinancial Results\nFollowing a period of significant growth over the prior three years, net sales decreased 10% to $5.5 billion in 2023 compared to $6.2 billion in 2022, resulting in a compound annual\ngrowth rate (CAG R) of 15% from 2019 to 2023. Base business results approx imated consolidated results for 2023. Our net sales benefited approx imately 3% to 4% from inflationary\nproduct cost increases in 2023 versus a benefit of 10% in 2022. Unfavorable weather conditions in certain markets throughout the first half of the year resulted in a slow start to the\nswimming pool season and slower maintenance activity than anticipated, limiting sales in the first and second quarters. Our results were also impacted by lower volumes of\ndiscretionary pool products sold due to reduced pool construction activity and discretionary replacement activity.\nG ross profit was $1.7 billion in 2023, a 14% decrease from gross profit of $1.9 billion in 2022. Our gross profit increased at a 16% CAG R from 2019 to 2023. G ross margin declined 130\nbasis points to 30.0% in 2023 compared to 31.3% in 2022. Our 2023 gross margin is in line with our longer-term annual gross margin outlook, while our prior year gross margin\nbenefited from higher levels of inflation and price increases.\nSelling and administrative ex penses (operating ex penses) increased 0.6%, or $5.8 million, to $913.5 million in 2023. As a percentage of net sales, operating ex penses increased 180\nbasis points to 16.5% in 2023 compared to 14.7% in 2022. During 2023, volume-driven ex penses were managed in line with lower sales, and our largest ex pense growth drivers\nrelated to inflationary wage increases, rent and facility costs and insurance and healthcare-related costs.\nOperating income for the year decreased 27% to $746.6 million, down from $1.0 billion in 2022. Our operating income increased at a 22% CAG R from 2019 to 2023. Operating margin\ndecreased 310 basis points to 13.5% in 2023 compared to 16.6% in 2022.\nInterest and other non-operating ex penses, net for the year increased $17.5 million compared to 2022, as higher average interest rates more than offset a decrease in average debt.\nWe recorded a $6.7 million, or $0.17 per diluted share, tax benefit from Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment\nAccounting, for the year ended December 31, 2023 compared to a tax benefit of $10.8 million, or $0.27 per diluted share, realized in 2022.\nNet income declined 30% to $523.2 million in 2023 compared to $748.5 million in 2022. Earnings per share decreased 29% to $13.35 per diluted share compared to a record of $18.70\nper diluted share in 2022. Without the impact from ASU 2016-09 in both periods, earnings per diluted share decreased 28% to $13.18 per diluted share compared to $18.43 per\ndiluted share in 2022. From 2019 to 2023, our earnings per diluted share increased by a 20% CAG R and a 23% CAG R without the impact from ASU 2016-19. See RESUL TS OF\nOPERATIONS below for definitions of our non-G AAP measures and reconciliations of our non-G AAP measures to G AAP measures.\nFinancial Position and Liquidity\nCash provided by operations was $888.2 million in 2023, which funded the following initiatives:\n• a $333.5 million debt reduction\n• share repurchases, totaling $306.4 million for the year;\n• quarterly cash dividend payments to shareholders, totaling $167.5 million for the year; and\n• net capital ex penditures and acquisitions of $71.6 million.\nTotal net receivables, including pledged receivables, decreased 2% compared to December 31, 2022, primarily due to lower sales in 2023. Our allowance for doubtful accounts was\n$11.7 million at December 31, 2023 and $9.5 million at December 31, 2022. Our days sales outstanding ratio, as calculated on a trailing four quarters basis, was 26.8 days at\nDecember 31, 2023 and 26.9 days at December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_revenue_growth",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales decreased 10%",
      "golden_context": "Page 32:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nFor a discussion of our base business calculations, see the RESULTS OF OPERATIONS section below.\n2023 FINANCIAL OVE RVIE W\nFinancial Results\nFollowing a period of significant growth over the prior three years, net sales decreased 10% to $5.5 billion in 2023 compared to $6.2 billion in 2022, resulting in a compound annual\ngrowth rate (CAG R) of 15% from 2019 to 2023. Base business results approx imated consolidated results for 2023. Our net sales benefited approx imately 3% to 4% from inflationary\nproduct cost increases in 2023 versus a benefit of 10% in 2022. Unfavorable weather conditions in certain markets throughout the first half of the year resulted in a slow start to the\nswimming pool season and slower maintenance activity than anticipated, limiting sales in the first and second quarters. Our results were also impacted by lower volumes of\ndiscretionary pool products sold due to reduced pool construction activity and discretionary replacement activity.\nG ross profit was $1.7 billion in 2023, a 14% decrease from gross profit of $1.9 billion in 2022. Our gross profit increased at a 16% CAG R from 2019 to 2023. G ross margin declined 130\nbasis points to 30.0% in 2023 compared to 31.3% in 2022. Our 2023 gross margin is in line with our longer-term annual gross margin outlook, while our prior year gross margin\nbenefited from higher levels of inflation and price increases.\nSelling and administrative ex penses (operating ex penses) increased 0.6%, or $5.8 million, to $913.5 million in 2023. As a percentage of net sales, operating ex penses increased 180\nbasis points to 16.5% in 2023 compared to 14.7% in 2022. During 2023, volume-driven ex penses were managed in line with lower sales, and our largest ex pense growth drivers\nrelated to inflationary wage increases, rent and facility costs and insurance and healthcare-related costs.\nOperating income for the year decreased 27% to $746.6 million, down from $1.0 billion in 2022. Our operating income increased at a 22% CAG R from 2019 to 2023. Operating margin\ndecreased 310 basis points to 13.5% in 2023 compared to 16.6% in 2022.\nInterest and other non-operating ex penses, net for the year increased $17.5 million compared to 2022, as higher average interest rates more than offset a decrease in average debt.\nWe recorded a $6.7 million, or $0.17 per diluted share, tax benefit from Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment\nAccounting, for the year ended December 31, 2023 compared to a tax benefit of $10.8 million, or $0.27 per diluted share, realized in 2022.\nNet income declined 30% to $523.2 million in 2023 compared to $748.5 million in 2022. Earnings per share decreased 29% to $13.35 per diluted share compared to a record of $18.70\nper diluted share in 2022. Without the impact from ASU 2016-09 in both periods, earnings per diluted share decreased 28% to $13.18 per diluted share compared to $18.43 per\ndiluted share in 2022. From 2019 to 2023, our earnings per diluted share increased by a 20% CAG R and a 23% CAG R without the impact from ASU 2016-19. See RESUL TS OF\nOPERATIONS below for definitions of our non-G AAP measures and reconciliations of our non-G AAP measures to G AAP measures.\nFinancial Position and Liquidity\nCash provided by operations was $888.2 million in 2023, which funded the following initiatives:\n• a $333.5 million debt reduction\n• share repurchases, totaling $306.4 million for the year;\n• quarterly cash dividend payments to shareholders, totaling $167.5 million for the year; and\n• net capital ex penditures and acquisitions of $71.6 million.\nTotal net receivables, including pledged receivables, decreased 2% compared to December 31, 2022, primarily due to lower sales in 2023. Our allowance for doubtful accounts was\n$11.7 million at December 31, 2023 and $9.5 million at December 31, 2022. Our days sales outstanding ratio, as calculated on a trailing four quarters basis, was 26.8 days at\nDecember 31, 2023 and 26.9 days at December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000216_segments",
      "report_id": "ID_000216",
      "company_name": "Pool",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 59:\n\nal Reporting, and all related amendments, which are codified into Accounting Standards Codification (ASC) 848. This standard provides optional ex pedients and\nex ceptions for applying G AAP to transactions affected by reference rate reform if certain criteria are met. These transactions include contract modifications, hedging relationships\nand sale or transfer of debt securities classified as held-to-maturity. Prior to our debt amendments in June 2023, discussed further in Note 5, we adopted the hedge accounting\nex pedient related to the probability of forecasted transactions to assert probability of the hedged interest regardless of any ex pected modification related to reference rate reform.\nThe adoption of this standard did not have a material impact on our consolidated financial statements or related disclosures, and we do not ex pect a material impact in future\nperiods.\nSegment Reporting\nSince all of our sales centers have similar operations and share similar economic characteristics, we aggregate our sales centers into a single reportable segment. These similarities\ninclude (i) the nature of our products and services, (ii) the types of customers we sell to and (iii) the distribution methods we use. Our chief operating decision maker (CODM)\nevaluates each sales center based on individual performance that includes both financial and operational measures. These measures include operating income growth and\naccounts receivable and inventory management criteria. Each sales center manager and eligible field employee earns performance-based compensation based on these measures\ndeveloped at the sales center level.\nA bottom-up approach is used to develop the operating budget for each individual sales center. The CODM approves the budget and routinely monitors budget to actual results\nfor each sales center. Additionally, our CODM makes resource allocation decisions primarily on a sales center-by-sales center basis. No single sales center meets any of the\nquantitative thresholds (10% of revenues, profit or assets) for separately reporting information about an operating segment. We do not track sales by product lines and product\ncategories on a consolidated basis. We lack readily available financial information due to the number of our product lines and product categories and the fact that we make\nongoing changes to product classifications within these groups, thus making it impracticable to report our sales by product category.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_cash_flow",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 544407k, investing: -167154k, financing -765k, total cash flow 385845k",
      "golden_context": "Page 44:\n\nCash Flows\nThe following table summarizes our cash flows for the periods indicated:\nFor the Years Ended December 31,\n2020 2019 2018\n(in thousands)\nConsolidated Statements of Cash Flow Data:\nNet cash provided by operating activities Net cash used in investing activities Net cash (used in)/provided by financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period $ 544,407 $ 287,453 $ 292,218\n(167,154) (145,369) (112,123)\n(765) 20,363 23,001\n9,357 3,530 (14,240)\n$ 385,845 $ 165,977 $ 188,856\n937,688 771,711 582,855\n$ 1,323,533 $ 937,688 $ 771,711\nOperating Activities\nNet cash provided by operating activities during the year ended December 31, 2020 increased $257.0 million, or 89.4%, to $544.4 million, as compared\nto 2019 primarily driven by the increase in net income and a larger improvement in days sales outstanding during 2020 compared to 2019 which resulted in\nhigher cash collections during 2020 as compared to 2019.\nInvesting Activities\nNet cash used in investing activities during the year ended December 31, 2020 was $167.2 million compared to $145.4 million used in the same period\nin 2019. The increase was primarily attributable to $60.0 million of net cash invested into time deposits classified as Short-term investments partially offset by\na decrease in capital expenditures of $30.5 million.\nFinancing Activities\nDuring the year ended December 31, 2020, net cash used in financing activities was $0.8 million, compared to $20.4 million net cash provided by\nfinancing activities in 2019. During 2020, we received $10.6 million less cash from exercises of stock options issued under our long-term incentive plans, we\npaid $5.9 million more in contingent consideration related to acquisitions of businesses and we paid $4.6 million more of withholding taxes related to net\nshare settlements of restricted stock units compared to 2019.\nDiscussion of the comparison of the cash flows between 2019 and 2018 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Liquidity and Capital Resources” of our Annual Report on Form 10-K for the year ended December 31,\n2019.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_company_type",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2020\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission file number: 001-35418\nEPAM SYSTEMS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 22-3536104\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n41 University Drive Suite 202 18940\nNewtown Pennsylvania\n(Address of principal executive offices) (Zip code)\n267-759-9000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $0.001 per share Trading Symbol EPAM Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See\nthe definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of June 30, 2020 the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately $ 13,559,685,089 based on the closing sale\nprice as reported on the New York Stock Exchange. Solely for purposes of the foregoing calculation,\n“affiliates” are deemed to consist of each officer and director of the registrant, and\neach person known to the registrant to own 10% or more of the outstanding voting power of the registrant.\nAs of February 12, 2021, there were 56,179,461 shares of common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe registrant intends to file a definitive Proxy Statement for its 2021 annual meeting of stockholders pursuant to Regulation 14A within 120 days of the end of the registrant’s fiscal year\nended December 31, 2020. Portions of the registrant’s Proxy Statement are incorporated by reference into Part III of this Annual Report on Form 10-K. With the exception of the portions\nof the Proxy Statement expressly incorporated by reference, such document shall not be deemed filed with this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_key_financials",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 2659.5m, income from operations 379.3m, net income 327.2m, diluted EPS 5.6.",
      "golden_context": "Page 32:\n\nOverview of 2020 and Financial Highlights\nThe following table presents a summary of our results of operations for the years ended December 31, 2020, 2019 and 2018:\nYear Ended December 31,\n2020 2019 2018\n% of revenues % of revenues % of revenues\n(in millions, except percentages and per share data)\nRevenues $ 2,659.5 100.0 % $ 2,293.8 100.0 % $ 1,842.9 100.0 %\nIncome from operations $ 379.3 14.3 % $ 302.9 13.2 % $ 245.8 13.3 %\nNet income $ 327.2 12.3 % $ 261.1 11.4 % $ 240.3 13.0 %\nEffective tax rate 13.6 % 12.8 % 3.8 %\nDiluted earnings per share $ 5.60 $ 4.53 $ 4.24\nThe key highlights of our consolidated results for 2020 were as follows:\n• We recorded revenues of $2.7 billion, or a 15.9% increase from $2.3 billion in the previous year, negatively impacted by $0.8 million or 0.1% due to\nchanges in certain foreign currency exchange rates as compared to the corresponding period in the previous year.\n• Income from operations grew 25.3% to $379.3 million from $302.9 million in 2019. Expressed as a percentage of revenues, income from operations\nwas 14.3% compared to 13.2%. The increase in income from operations as a percentage of revenues during the year ended December 31, 2020\nwas primarily driven by a reduction in travel-related expenses reported in Cost of revenues and a reduction in travel-related, recruitment, and\nfacilities expenses reported in Selling, general and administrative expenses which was partially offset by an increase in Cost of revenues as a\npercentage of revenues attributable to temporary discounts provided to certain customers experiencing challenging economic conditions due to the\nimpact of the COVID-19 pandemic.\n• Our effective tax rate was 13.6% compared to 12.8% in the previous year. The provision for income taxes was impacted primarily by the excess tax\nbenefits recorded upon vesting or exercise of stock-based awards in 2020 and 2019.\n• Net income increased 25.3% to $327.2 million compared to $261.1 million in 2019. Expressed as a percentage of revenues, net income increased\n0.9% compared to last year, which was largely driven by the improvement in income from operations and partially offset by an increase in our\neffective tax rate.\n• Diluted earnings per share increased 23.6% to $5.60 for the year ended December 31, 2020 from $4.53 in 2019.\n• Cash provided by operations increased $257.0 million, or 89.4%, to $544.4 million during 2020 as compared to last year. This increase is largely\ndriven by the increase in net income, improvements in collections from customers, and reduced income tax payments compared to 2019.\nThe operating results in any period are not necessarily indicative of the results that may be expected for any future period.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_revenue",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenues: 2659.5m",
      "golden_context": "Page 32:\n\nOverview of 2020 and Financial Highlights\nThe following table presents a summary of our results of operations for the years ended December 31, 2020, 2019 and 2018:\nYear Ended December 31,\n2020 2019 2018\n% of revenues % of revenues % of revenues\n(in millions, except percentages and per share data)\nRevenues $ 2,659.5 100.0 % $ 2,293.8 100.0 % $ 1,842.9 100.0 %\nIncome from operations $ 379.3 14.3 % $ 302.9 13.2 % $ 245.8 13.3 %\nNet income $ 327.2 12.3 % $ 261.1 11.4 % $ 240.3 13.0 %\nEffective tax rate 13.6 % 12.8 % 3.8 %\nDiluted earnings per share $ 5.60 $ 4.53 $ 4.24\nThe key highlights of our consolidated results for 2020 were as follows:\n• We recorded revenues of $2.7 billion, or a 15.9% increase from $2.3 billion in the previous year, negatively impacted by $0.8 million or 0.1% due to\nchanges in certain foreign currency exchange rates as compared to the corresponding period in the previous year.\n• Income from operations grew 25.3% to $379.3 million from $302.9 million in 2019. Expressed as a percentage of revenues, income from operations\nwas 14.3% compared to 13.2%. The increase in income from operations as a percentage of revenues during the year ended December 31, 2020\nwas primarily driven by a reduction in travel-related expenses reported in Cost of revenues and a reduction in travel-related, recruitment, and\nfacilities expenses reported in Selling, general and administrative expenses which was partially offset by an increase in Cost of revenues as a\npercentage of revenues attributable to temporary discounts provided to certain customers experiencing challenging economic conditions due to the\nimpact of the COVID-19 pandemic.\n• Our effective tax rate was 13.6% compared to 12.8% in the previous year. The provision for income taxes was impacted primarily by the excess tax\nbenefits recorded upon vesting or exercise of stock-based awards in 2020 and 2019.\n• Net income increased 25.3% to $327.2 million compared to $261.1 million in 2019. Expressed as a percentage of revenues, net income increased\n0.9% compared to last year, which was largely driven by the improvement in income from operations and partially offset by an increase in our\neffective tax rate.\n• Diluted earnings per share increased 23.6% to $5.60 for the year ended December 31, 2020 from $4.53 in 2019.\n• Cash provided by operations increased $257.0 million, or 89.4%, to $544.4 million during 2020 as compared to last year. This increase is largely\ndriven by the increase in net income, improvements in collections from customers, and reduced income tax payments compared to 2019.\nThe operating results in any period are not necessarily indicative of the results that may be expected for any future period.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_revenue_growth",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 2659.5m, 2293.8m prior year",
      "golden_context": "Page 32:\n\nOverview of 2020 and Financial Highlights\nThe following table presents a summary of our results of operations for the years ended December 31, 2020, 2019 and 2018:\nYear Ended December 31,\n2020 2019 2018\n% of revenues % of revenues % of revenues\n(in millions, except percentages and per share data)\nRevenues $ 2,659.5 100.0 % $ 2,293.8 100.0 % $ 1,842.9 100.0 %\nIncome from operations $ 379.3 14.3 % $ 302.9 13.2 % $ 245.8 13.3 %\nNet income $ 327.2 12.3 % $ 261.1 11.4 % $ 240.3 13.0 %\nEffective tax rate 13.6 % 12.8 % 3.8 %\nDiluted earnings per share $ 5.60 $ 4.53 $ 4.24\nThe key highlights of our consolidated results for 2020 were as follows:\n• We recorded revenues of $2.7 billion, or a 15.9% increase from $2.3 billion in the previous year, negatively impacted by $0.8 million or 0.1% due to\nchanges in certain foreign currency exchange rates as compared to the corresponding period in the previous year.\n• Income from operations grew 25.3% to $379.3 million from $302.9 million in 2019. Expressed as a percentage of revenues, income from operations\nwas 14.3% compared to 13.2%. The increase in income from operations as a percentage of revenues during the year ended December 31, 2020\nwas primarily driven by a reduction in travel-related expenses reported in Cost of revenues and a reduction in travel-related, recruitment, and\nfacilities expenses reported in Selling, general and administrative expenses which was partially offset by an increase in Cost of revenues as a\npercentage of revenues attributable to temporary discounts provided to certain customers experiencing challenging economic conditions due to the\nimpact of the COVID-19 pandemic.\n• Our effective tax rate was 13.6% compared to 12.8% in the previous year. The provision for income taxes was impacted primarily by the excess tax\nbenefits recorded upon vesting or exercise of stock-based awards in 2020 and 2019.\n• Net income increased 25.3% to $327.2 million compared to $261.1 million in 2019. Expressed as a percentage of revenues, net income increased\n0.9% compared to last year, which was largely driven by the improvement in income from operations and partially offset by an increase in our\neffective tax rate.\n• Diluted earnings per share increased 23.6% to $5.60 for the year ended December 31, 2020 from $4.53 in 2019.\n• Cash provided by operations increased $257.0 million, or 89.4%, to $544.4 million during 2020 as compared to last year. This increase is largely\ndriven by the increase in net income, improvements in collections from customers, and reduced income tax payments compared to 2019.\nThe operating results in any period are not necessarily indicative of the results that may be expected for any future period.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000217_segments",
      "report_id": "ID_000217",
      "company_name": "Epam",
      "year": 2020,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: North America, Europe, and Russia",
      "golden_context": "Page 40:\n\non during 2018 compared to the previous year. There was no aggregate dollar benefit derived from this tax holiday for the years ended\nDecember 31, 2020, and 2019 and the aggregate dollar benefits derived from this tax holiday approximated $1.4 million for the year ended December 31,\n2018. There was no impact on diluted net income per share for the years ended December 31, 2020 and 2019. The benefit the tax holiday had on diluted net\nincome per share approximated $0.02 for the year ended December 31, 2018.\nThe provision for income taxes was $51.3 million in 2020 and $38.5 million in 2019. The increase was primarily driven by the increase in pre-tax\nincome year over year partially offset by an increase in excess tax benefits recorded upon vesting or exercise of stock-based awards which were $36.6\nmillion in 2020 compared to $28.4 million in 2019. The effective tax rate increased from 12.8% in 2019 to 13.6% in 2020 primarily due to mix in profitability in\njurisdictions with different statutory tax rates and the tax treatment of certain acquisition-related costs.\nDiscussion of the provision for income taxes from 2019 as compared to 2018 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2019.\nForeign Exchange Gain / Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk — Foreign\nExchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of EPAM for which\nseparate financial information is available and used on a regular basis by our chief executive officer, who is also our chief operating decision maker\n(“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes business decisions based on segment revenues and\nsegment operating profits. Segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating\nprofit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not\nallocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain\ntaxes included in operating expenses including the Belarus High-Technologies Park membership fee, compensation to non-employee directors and certain\nother general and administrative expenses, including compensation of specific groups of non-production employees. In addition, the Company does not\nallocate amortization of intangible assets acquired through business combinations, goodwill and other asset impairment charges, stock-based compensation\nexpenses, acquisition-related costs and certain other one-time charges. These unallocated amounts are combined with total segment operating profit to\narrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial responsibility for a particular\ncustomer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the\ngeographic boundaries of our reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in\nanother region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management\nteam. In such cases, the customer’s activity would be reported through the respective management team member’s reportable segment. Our Europe\nsegment includes our business in the APAC region, which is managed by the same management team.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_cash_flow",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 572327k, investing: -368924k, financing: -59557k, total cash flow 125814k",
      "golden_context": "Page 45:\n\nCapital Resources\nCapital Resources\nOur cash generated from operations has been our primary source of liquidity to fund operations and investments to support the growth of our\nbusiness. As of December 31, 2021, our principal sources of liquidity were cash and cash equivalents totaling $1,446.6 million, as well as $675.0 million of\navailable borrowings under our revolving credit facility. See Note 9 “Debt” in the notes to our consolidated financial statements in this Annual Report on Form\n10-K for information regarding the terms of our revolving credit facility and information about debt.\nCash Flows\nThe following table summarizes our cash flows for the periods indicated:\nFor the Years Ended December 31,\n2021 2020 2019\n(in thousands)\nConsolidated Statements of Cash Flow Data:\nNet cash provided by operating activities Net cash used in investing activities Net cash (used in)/provided by financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period $ 572,327 $ 544,407 $ 287,453\n(368,924) (167,154) (145,369)\n(59,557) (765) 20,363\n(18,032) 9,357 3,530\n$ 125,814 $ 385,845 $ 165,977\n1,323,533 937,688 771,711\n$ 1,449,347 $ 1,323,533 $ 937,688\nOperating Activities\nNet cash provided by operating activities during the year ended December 31, 2021 increased $27.9 million, or 5.1%, to $572.3 million, as compared to\n2020 primarily driven by the increase in net income as well as an increase in accrued variable compensation expense in 2021. The increase was partially\noffset by an increase in accounts receivable during 2021, largely attributable to the 41.3% growth in revenue in 2021 as compared to 2020.\nInvesting Activities\nNet cash used in investing activities during the year ended December 31, 2021 was $368.9 million compared to $167.2 million used in the same period\nin 2020. The cash used in investing activities was primarily attributable to $315.0 million used during 2021 for the acquisitions of businesses, net of cash\nacquired, compared to $18.9 million used for the acquisitions of businesses, net of cash acquired, during 2020. Cash used for capital expenditures was\n$111.5 million in 2021 compared to cash used for capital expenditures of $68.8 million during the comparable period in 2020. Additionally, net cash used in\ninvesting activities was positively impacted by the maturity of $60.0 million of time deposits during 2021 and negatively impacted by the $60.0 million use of\ncash to purchase these time deposits during 2020. Furthermore, $2.5 million was used for purchases of non-marketable securities during 2021 compared to\n$20.5 million used in 2020.\nFinancing Activities\nDuring the year ended December 31, 2021, net cash used in financing activities was $59.6 million, compared to $0.8 million net cash used in financing\nactivities in 2020. During 2021, we received cash from the exercises of stock options issued under our long-term incentive plans of $26.3 million, compared to\n$26.4 million received in the corresponding period of 2020. These cash inflows were offset by cash used for the payments of withholding taxes related to net\nshare settlements of restricted stock units of $41.6 million in 2021, compared to $20.1 million paid in 2020. Additionally, the year ended December 31, 2021\nincluded payments of $40.2 million attributable to the acquisition-date fair value of contingent consideration compared to payments of $7.0 million attributable\nto acquisition-date fair value of contingent consideration during the year ended December 31, 2020.\nDiscussion of the comparison of th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_company_type",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission file number: 001-35418\nEPAM SYSTEMS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 22-3536104\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n41 University Drive Suite 202 18940\nNewtown Pennsylvania\n(Address of principal executive offices) (Zip code)\n267-759-9000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $0.001 per share Trading Symbol EPAM Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See\nthe definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of June 30, 2021 the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately $ 27,963,532,231 based on the closing sale\nprice as reported on the New York Stock Exchange. Solely for purposes of the foregoing calculation,\n“affiliates” are deemed to consist of each officer and director of the registrant, and\neach person known to the registrant to own 10% or more of the outstanding voting power of the registrant.\nAs of February 11, 2022, there were 56,878,539 shares of common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe registrant intends to file a definitive Proxy Statement for its 2022 annual meeting of stockholders pursuant to Regulation 14A within 120 days of the end of the registrant’s fiscal year\nended December 31, 2021. Portions of the registrant’s Proxy Statement are incorporated by reference into Part III of this Annual Report on Form 10-K. With the exception of the portions\nof the Proxy Statement expressly incorporated by reference, such document shall not be deemed filed with this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_key_financials",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "revenues: 3758144k, 2659478k prior year. Net income: 481.7m. Diluted EPS: 8.15",
      "golden_context": "Page 41:\n\nDiscussion of the provision for income taxes from 2020 as compared to 2019 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2020.\nForeign Exchange Gain / Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk — Foreign\nExchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of EPAM for which\nseparate financial information is available and used on a regular basis by our chief executive officer, who is also our chief operating decision maker\n(“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes business decisions based on segment revenues and\nsegment operating profits. Segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating\nprofit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not\nallocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain\ntaxes included in operating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation, amortization of\nintangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-related costs and certain other one-time\ncharges. These unallocated amounts are combined with total segment operating profit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial responsibility for a particular\ncustomer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the\ngeographic boundaries of our reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in\nanother region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management\nteam. In such cases, the customer’s activity would be reported through the respective management team member’s reportable segment. Our Europe\nsegment includes our business in the APAC region, which is managed by the same management team.\nSegment revenues from external customers and segment operating profit, before unallocated expenses, for the North America, Europe and Russia\nsegments for the years ended December 31, 2021, 2020 and 2019 were as follows:\nYear Ended December 31,\n2021 2020 2019\n(in thousands)\nSegment revenues:\nNorth America $ 2,242,248 $ 1,601,820 $ 1,380,944\nEurope 1,350,484 947,305 820,717\nRussia 165,412 110,353 92,137\nTotal segment revenues $ 3,758,144 $ 2,659,478 $ 2,293,798\nSegment operating profit:\nNorth America $ 462,798 $ 345,196 $ 293,757\nEurope 233,727 152,902 114,863\nRussia 32,547 5,811 17,347\nTotal segment operating profit $ 729,072 $ 503,909 $ 425,967\n\nPage 33:\n\nThe key highlights of our consolidated results for 2021 were as follows:\n• We recorded revenues of $3.8 billion, or a 41.3% increase from $2.7 billion in the previous year, positively impacted by $38.8 million or 1.4% due to\nchanges in certain foreign currency exchange rates as compared to the previous year.\n• Income from operations grew 43.0% to $542.3 million in 2021 from $379.3 million in 2020. Expressed as a percentage of revenues, income from\noperations was 14.4% compared to 14.3%. During the year ended December 31, 2021, income from operations as a percentage of revenues was\npositively impacted by reduced facility-related expenses as a percentage of revenues and negatively impacted by higher levels of accrued variable\ncompensation.\n• Our effective tax rate was 9.7% compared to 13.6% in the previous year. The provision for income taxes was impacted primarily by the excess tax\nbenefits recorded upon vesting or exercise of stock-based awards in 2021 and 2020.\n• Net income increased 47.2% to $481.7 million compared to $327.2 million in 2020. Expressed as a percentage of revenues, net income increased\n0.5% compared to last year, which was largely driven by the improvement in income from operations and a decrease in our effective tax rate.\n• Diluted earnings per share increased 45.5% to $8.15 for the year ended December 31, 2021 from $5.60 in 2020.\n• Cash provided by operations increased $27.9 million, or 5.1%, to $572.3 million during 2021 as compared to last year. This increase was largely\ndriven by the increase in net income as well as an increase in accrued variable compensation expense in 2021. The increase was partially offset by\nan increase in accounts receivable during 2021, largely attributable to the 41.3% growth in revenue in 2021 as compared to 2020.\nThe operating results in any period are not necessarily indicative of the results that may be expected for any future period.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_revenue",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "3758144k",
      "golden_context": "Page 41:\n\nDiscussion of the provision for income taxes from 2020 as compared to 2019 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2020.\nForeign Exchange Gain / Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk — Foreign\nExchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of EPAM for which\nseparate financial information is available and used on a regular basis by our chief executive officer, who is also our chief operating decision maker\n(“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes business decisions based on segment revenues and\nsegment operating profits. Segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating\nprofit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not\nallocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain\ntaxes included in operating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation, amortization of\nintangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-related costs and certain other one-time\ncharges. These unallocated amounts are combined with total segment operating profit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial responsibility for a particular\ncustomer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the\ngeographic boundaries of our reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in\nanother region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management\nteam. In such cases, the customer’s activity would be reported through the respective management team member’s reportable segment. Our Europe\nsegment includes our business in the APAC region, which is managed by the same management team.\nSegment revenues from external customers and segment operating profit, before unallocated expenses, for the North America, Europe and Russia\nsegments for the years ended December 31, 2021, 2020 and 2019 were as follows:\nYear Ended December 31,\n2021 2020 2019\n(in thousands)\nSegment revenues:\nNorth America $ 2,242,248 $ 1,601,820 $ 1,380,944\nEurope 1,350,484 947,305 820,717\nRussia 165,412 110,353 92,137\nTotal segment revenues $ 3,758,144 $ 2,659,478 $ 2,293,798\nSegment operating profit:\nNorth America $ 462,798 $ 345,196 $ 293,757\nEurope 233,727 152,902 114,863\nRussia 32,547 5,811 17,347\nTotal segment operating profit $ 729,072 $ 503,909 $ 425,967",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_revenue_growth",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "3758144k, 2659478k prior year",
      "golden_context": "Page 41:\n\nDiscussion of the provision for income taxes from 2020 as compared to 2019 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2020.\nForeign Exchange Gain / Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk — Foreign\nExchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of EPAM for which\nseparate financial information is available and used on a regular basis by our chief executive officer, who is also our chief operating decision maker\n(“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes business decisions based on segment revenues and\nsegment operating profits. Segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating\nprofit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not\nallocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain\ntaxes included in operating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation, amortization of\nintangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-related costs and certain other one-time\ncharges. These unallocated amounts are combined with total segment operating profit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial responsibility for a particular\ncustomer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the\ngeographic boundaries of our reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in\nanother region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management\nteam. In such cases, the customer’s activity would be reported through the respective management team member’s reportable segment. Our Europe\nsegment includes our business in the APAC region, which is managed by the same management team.\nSegment revenues from external customers and segment operating profit, before unallocated expenses, for the North America, Europe and Russia\nsegments for the years ended December 31, 2021, 2020 and 2019 were as follows:\nYear Ended December 31,\n2021 2020 2019\n(in thousands)\nSegment revenues:\nNorth America $ 2,242,248 $ 1,601,820 $ 1,380,944\nEurope 1,350,484 947,305 820,717\nRussia 165,412 110,353 92,137\nTotal segment revenues $ 3,758,144 $ 2,659,478 $ 2,293,798\nSegment operating profit:\nNorth America $ 462,798 $ 345,196 $ 293,757\nEurope 233,727 152,902 114,863\nRussia 32,547 5,811 17,347\nTotal segment operating profit $ 729,072 $ 503,909 $ 425,967",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000218_segments",
      "report_id": "ID_000218",
      "company_name": "Epam",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: North America, Europe, and Russia",
      "golden_context": "Page 41:\n\nDiscussion of the provision for income taxes from 2020 as compared to 2019 is included in “Part II. Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations — Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2020.\nForeign Exchange Gain / Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk — Foreign\nExchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of EPAM for which\nseparate financial information is available and used on a regular basis by our chief executive officer, who is also our chief operating decision maker\n(“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes business decisions based on segment revenues and\nsegment operating profits. Segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating\nprofit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not\nallocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain\ntaxes included in operating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation, amortization of\nintangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-related costs and certain other one-time\ncharges. These unallocated amounts are combined with total segment operating profit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial responsibility for a particular\ncustomer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the\ngeographic boundaries of our reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in\nanother region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management\nteam. In such cases, the customer’s activity would be reported through the respective management team member’s reportable segment. Our Europe\nsegment includes our business in the APAC region, which is managed by the same management team.\nSegment revenues from external customers and segment operating profit, before unallocated expenses, for the North America, Europe and Russia\nsegments for the years ended December 31, 2021, 2020 and 2019 were as follows:\nYear Ended December 31,\n2021 2020 2019\n(in thousands)\nSegment revenues:\nNorth America $ 2,242,248 $ 1,601,820 $ 1,380,944\nEurope 1,350,484 947,305 820,717\nRussia 165,412 110,353 92,137\nTotal segment revenues $ 3,758,144 $ 2,659,478 $ 2,293,798\nSegment operating profit:\nNorth America $ 462,798 $ 345,196 $ 293,757\nEurope 233,727 152,902 114,863\nRussia 32,547 5,811 17,347\nTotal segment operating profit $ 729,072 $ 503,909 $ 425,967",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_cash_flow",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 562634k, investing: -66768k, financing: -165773k, total cash flow: 359472k",
      "golden_context": "Page 45:\n\nCash Flows\nThe following table summarizes our cash flows for the periods indicated:\nFor the Years Ended December 31,\n2023 2022 2021\n(in thousands)\nConsolidated Statements of Cash Flow Data:\nNet cash provided by operating activities $ 562,634 $ 464,104 $ 572,327\nNet cash used in investing activities (66,768) (182,927) (368,924)\nNet cash used in financing activities (165,773) (2,021) (59,557)\nEffect of exchange rate changes on cash, cash equivalents and restricted cash 29,379 (44,867) (18,032)\nNet increase in cash, cash equivalents and restricted cash $ 359,472 $ 234,289 $ 125,814\nCash, cash equivalents and restricted cash, beginning of period 1,683,636 1,449,347 1,323,533\nCash, cash equivalents and restricted cash, end of period $ 2,043,108 $ 1,683,636 $ 1,449,347\nOperating Activities\nOur largest source of cash provided by operating activities is cash generated from our professional services that we provide to our\ncustomers. Our primary uses of cash from operating activities include compensation to our employees and related costs, payments for\nleased facilities, various general corporate expenditures and income tax payments. Since the invasion of Ukraine in 2022, our operating\nactivities included using cash on humanitarian efforts for Ukraine and geographic repositioning of our workforce.\nCash provided by operating activities in 2023 was primarily driven by the Company's cash collections from customer contracts,\nwhich was partially offset by variable compensation payments, severance payments related to the Cost Optimization Program and other\nworking capital outflows. Cash provided by operating activities in 2022 was primarily driven by the Company's cash collections from\ncustomer contracts, which were partially offset by variable compensation payments and EPAM’s humanitarian efforts for Ukraine and\ngeographic repositioning.\nInvesting Activities\nOur primary uses of cash from investing activities consist of purchases of computer hardware, software and office equipment, as\nwell as investments into office buildings and new businesses. We also use cash for short-term investments and time deposits, and receive\ncash upon maturity of these deposits. Most of our investments are typically short-term and cash equivalent in nature but we may invest\nin longer term deposits if the terms are favorable. The cash used in investing activities during 2023 was primarily attributable to $28.4\nmillion used for capital expenditures and $24.8 million used for the acquisitions of businesses, net of cash acquired. The cash used in\ninvesting activities during 2022 was primarily attributable to $81.6 million used for capital expenditures, an investment of $60.0 million\nin time deposits and $10.6 million used for the acquisitions of businesses, net of cash acquired.\nFinancing Activities\nCash used in financing activities mainly consists of repurchasing shares of EPAM common stock under a share repurchase\nprogram announced in 2023, payments of withholding taxes related to net share settlements of restricted stock units, repayments of debt,\nand settlements of the acquisition-date fair value of contingent consideration related to acquisitions of businesses. Cash provided by\nfinancing activities mainly consists of the proceeds from the purchases of shares under our ESPP and exercises of stock options issued\nunder our long-term incentive plans as well as proceeds from debt. We typically do not rely on debt to supplement our cash flows. Net\ncash used in financing activities increased from 2022 to 2023 primarily due to $164.9 million of payments to repurchase our common\nstock.\nDiscussion of the comparison of the cash flows bet",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_company_type",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nCommission file number: 001-35418\nEPAM SYSTEMS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 22-3536104\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n41 University Drive Suite 202 18940\nNewtown Pennsylvania\n(Address of principal executive offices) (Zip code)\n267-759-9000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $0.001 per share Trading Symbol EPAM Name of Each Exchange on which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes Yes ☒ No ☐\n☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒\nNo ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the\nExchange Act.\nLarge accelerated filer\n☒\nAccelerated filer\nNon-accelerated filer ☐ Smaller reporting company ☐\n☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the\ncorrection of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_key_financials",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Income from oeprations: 501239k, net income 417083k",
      "golden_context": "Page 36:\n\nome/(loss), net in the Company’s consolidated statements of income.\nIf the initial accounting for the business combination has not been completed by the end of the reporting period in which the\nbusiness combination occurs, provisional amounts are reported to present information about facts and circumstances that existed as of\nthe acquisition date. Once the measurement period ends, which in no case extends beyond one year from the acquisition date, revisions\nto the accounting for the business combination are recorded in earnings.\nRecent Accounting Pronouncements\nSee Note 1 “Organization and Summary of Significant Accounting Policies”\nin this Annual Report on Form 10-K for information regarding recent accounting pronouncements.\nin the notes to our consolidated financial statements\nResults of Operations\nThe following table sets forth a summary of our consolidated results of operations for the periods indicated. This information\nshould be read together with our consolidated financial statements and related notes included elsewhere in this annual report. The\noperating results in any period are not necessarily indicative of the results that may be expected for any future period.\nYear Ended December 31,\n2023 2022 2021\n% of revenues % of revenues % of revenues\n(in thousands, except percentages and per share data)\nRevenues $4,690,540 100.0 % $4,824,698 100.0 % $3,758,144 100.0 %\nOperating expenses:\nCost of revenues\n(exclusive of depreciation\n(1)\nand amortization) 3,256,514 69.4 3,286,683 68.1 2,483,697 66.1\nSelling, general and\n(2)\nadministrative expenses 815,065 17.4 872,777 18.1 648,736 17.3\nDepreciation and\namortization expense 91,800 1.9 92,272 1.9 83,395 2.2\nLoss on sale of business 25,922 0.6\n—\n—\n—\n—\nIncome from operations 501,239 10.7 572,966 11.9 542,316 14.4\nInterest and other\nincome/(loss), net 51,124 1.0 10,025 0.2 (1,727) —\nForeign exchange loss (15,778) (0.3) (75,733) (1.6) (7,197) (0.2)\nIncome before provision\nfor income taxes 536,585 11.4 507,258 10.5 533,392 14.2\nProvision for income taxes 119,502 2.5 87,842 1.8 51,740 1.4\nNet income $ 417,083 8.9 % $ 419,416 8.7 % $ 481,652 12.8 %\nEffective tax rate 22.3 % 17.3 % 9.7 %\nDiluted earnings per share $7.06 $7.09 $8.15\n(1) (2) Includes $68,797, $47,470 and $51,580 of stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021, respectively.\nIncludes $78,933, $52,439 and $60,075 of stock-based compensation expense for the years ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_revenue",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenues 4690540k",
      "golden_context": "Page 42:\n\nExchange Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About\nMarket Risk — Foreign Exchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of\nEPAM for which separate financial information is available and used on a regular basis by our chief executive officer, who is also our\nchief operating decision maker (“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes\nbusiness decisions based on segment revenues and segment operating profits. Segment operating profit is defined as income from\noperations before unallocated costs. Expenses included in segment operating profit consist principally of direct selling and delivery costs\nas well as an allocation of certain shared services expenses. Certain corporate expenses are not allocated to specific segments as these\nexpenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain taxes included in\noperating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation,\namortization of intangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-\nrelated costs and certain other one-time charges and benefits. These unallocated amounts are combined with total segment operating\nprofit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial\nresponsibility for a particular customer relationship generally correlates with the customer’s geographic location, there is a high degree\nof similarity between customer locations and the geographic boundaries of our reportable segments. In some cases, managerial\nresponsibility for a particular customer is assigned to a management team in another region and is usually based on the strength of the\nrelationship between customer executives and particular members of EPAM’s senior management team. In such cases, the customer’s\nactivity would be reported through the respective management team member’s reportable segment. Our Europe segment includes our\nbusiness in the APAC region, which is managed by the same management team.\nOn July 26, 2023, we completed the sale of our remaining holdings in Russia to a third party. As a result of this sale, we no longer\nhave operations associated with this segment. See Note 2 “Impact of the Invasion of Ukraine” for more information.\nRevenues from external customers and operating profit/(loss), before unallocated expenses, by reportable segments for the years\nended December 31, 2023, 2022 and 2021 were as follows:\nYear Ended December 31,\n2023 2022 2021\n(in thousands)\nSegment revenues:\nNorth America $ 2,765,022 $ 2,898,554 $ 2,242,248\nEurope 1,909,443 1,853,056 1,350,484\nRussia 16,075 73,088 165,412\nTotal segment revenues $ 4,690,540 $ 4,824,698 $ 3,758,144\nSegment operating profit/(loss):\nNorth America $ 520,945 $ 589,412 $ 462,798\nEurope 250,634 223,276 233,727\nRussia (5,866) (13,460) 32,547\nTotal segment operating profit $ 765,713 $ 799,228 $ 729,072\nNorth America Segment\nDuring 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_revenue_growth",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 4690540k, prior year 4824698k",
      "golden_context": "Page 42:\n\nExchange Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About\nMarket Risk — Foreign Exchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of\nEPAM for which separate financial information is available and used on a regular basis by our chief executive officer, who is also our\nchief operating decision maker (“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes\nbusiness decisions based on segment revenues and segment operating profits. Segment operating profit is defined as income from\noperations before unallocated costs. Expenses included in segment operating profit consist principally of direct selling and delivery costs\nas well as an allocation of certain shared services expenses. Certain corporate expenses are not allocated to specific segments as these\nexpenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain taxes included in\noperating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation,\namortization of intangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-\nrelated costs and certain other one-time charges and benefits. These unallocated amounts are combined with total segment operating\nprofit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial\nresponsibility for a particular customer relationship generally correlates with the customer’s geographic location, there is a high degree\nof similarity between customer locations and the geographic boundaries of our reportable segments. In some cases, managerial\nresponsibility for a particular customer is assigned to a management team in another region and is usually based on the strength of the\nrelationship between customer executives and particular members of EPAM’s senior management team. In such cases, the customer’s\nactivity would be reported through the respective management team member’s reportable segment. Our Europe segment includes our\nbusiness in the APAC region, which is managed by the same management team.\nOn July 26, 2023, we completed the sale of our remaining holdings in Russia to a third party. As a result of this sale, we no longer\nhave operations associated with this segment. See Note 2 “Impact of the Invasion of Ukraine” for more information.\nRevenues from external customers and operating profit/(loss), before unallocated expenses, by reportable segments for the years\nended December 31, 2023, 2022 and 2021 were as follows:\nYear Ended December 31,\n2023 2022 2021\n(in thousands)\nSegment revenues:\nNorth America $ 2,765,022 $ 2,898,554 $ 2,242,248\nEurope 1,909,443 1,853,056 1,350,484\nRussia 16,075 73,088 165,412\nTotal segment revenues $ 4,690,540 $ 4,824,698 $ 3,758,144\nSegment operating profit/(loss):\nNorth America $ 520,945 $ 589,412 $ 462,798\nEurope 250,634 223,276 233,727\nRussia (5,866) (13,460) 32,547\nTotal segment operating profit $ 765,713 $ 799,228 $ 729,072\nNorth America Segment\nDuring 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000219_segments",
      "report_id": "ID_000219",
      "company_name": "Epam",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: North America, Europe, and Russia",
      "golden_context": "Page 42:\n\nExchange Loss\nFor discussion of the impact of foreign exchange fluctuations see “Item 7A. Quantitative and Qualitative Disclosures About\nMarket Risk — Foreign Exchange Risk.\n”\nResults by Business Segment\nOur operations consist of three reportable segments: North America, Europe, and Russia. The segments represent components of\nEPAM for which separate financial information is available and used on a regular basis by our chief executive officer, who is also our\nchief operating decision maker (“CODM”), to determine how to allocate resources and evaluate performance. Our CODM makes\nbusiness decisions based on segment revenues and segment operating profits. Segment operating profit is defined as income from\noperations before unallocated costs. Expenses included in segment operating profit consist principally of direct selling and delivery costs\nas well as an allocation of certain shared services expenses. Certain corporate expenses are not allocated to specific segments as these\nexpenses are not controllable at the segment level. Such expenses include certain types of professional fees, certain taxes included in\noperating expenses, compensation to non-employee directors and certain other general and administrative expenses, including\ncompensation of specific groups of non-production employees. In addition, the Company does not allocate stock-based compensation,\namortization of intangible assets acquired through business combinations, goodwill and other asset impairment charges, acquisition-\nrelated costs and certain other one-time charges and benefits. These unallocated amounts are combined with total segment operating\nprofit to arrive at consolidated income from operations.\nWe manage our business primarily based on the managerial responsibility for the client base and market. As managerial\nresponsibility for a particular customer relationship generally correlates with the customer’s geographic location, there is a high degree\nof similarity between customer locations and the geographic boundaries of our reportable segments. In some cases, managerial\nresponsibility for a particular customer is assigned to a management team in another region and is usually based on the strength of the\nrelationship between customer executives and particular members of EPAM’s senior management team. In such cases, the customer’s\nactivity would be reported through the respective management team member’s reportable segment. Our Europe segment includes our\nbusiness in the APAC region, which is managed by the same management team.\nOn July 26, 2023, we completed the sale of our remaining holdings in Russia to a third party. As a result of this sale, we no longer\nhave operations associated with this segment. See Note 2 “Impact of the Invasion of Ukraine” for more information.\nRevenues from external customers and operating profit/(loss), before unallocated expenses, by reportable segments for the years\nended December 31, 2023, 2022 and 2021 were as follows:\nYear Ended December 31,\n2023 2022 2021\n(in thousands)\nSegment revenues:\nNorth America $ 2,765,022 $ 2,898,554 $ 2,242,248\nEurope 1,909,443 1,853,056 1,350,484\nRussia 16,075 73,088 165,412\nTotal segment revenues $ 4,690,540 $ 4,824,698 $ 3,758,144\nSegment operating profit/(loss):\nNorth America $ 520,945 $ 589,412 $ 462,798\nEurope 250,634 223,276 233,727\nRussia (5,866) (13,460) 32,547\nTotal segment operating profit $ 765,713 $ 799,228 $ 729,072\nNorth America Segment\nDuring 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_cash_flow",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "cash flow from operating activities 4981m, investing: -5176m, financing: -3448m, total cash flow: -3643m",
      "golden_context": "Page 28:\n\nConsolidated Statements of Cash Flows\nYears Ended December 31,\n(In millions) 2022 2021 2020\nOperating activities\nNet income (loss) $ 8,362 $ 12,202 $ (747)\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\nStock-based compensation 226 142 93\nDepreciation and amortization 348 232 31\nLeased assets expensed — — 62\nAmortization/accretion of investments 31 54 10\nDeferred income taxes (559) (318) —\nOther non-cash items 28 — —\nChanges in assets and liabilities:\nAccounts receivable 1,790 (1,784) (1,385)\nPrepaid expenses and other assets (1,699) (489) (241)\nInventory 492 (1,394) (47)\nRight-of-use assets, operating leases 21 (58) (11)\nAccounts payable 240 204 12\nAccrued liabilities 612 989 388\nDeferred revenue (4,157) 2,824 3,842\nIncome taxes payable (828) 876 —\nOperating lease liabilities (14) 17 12\nOther liabilities 88 123 8\nNet cash provided by operating activities 4,981 13,620 2,027\nInvesting activities\nPurchases of marketable securities (11,435) (12,652) (2,956)\nProceeds from maturities of marketable securities 3,151 1,338 1,137\nProceeds from sales of marketable securities 3,548 3,105 215\nPurchases of property, plant and equipment (400) (284) (68)\nInvestment in convertible notes and equity securities (40) (30) —\nNet cash used in investing activities (5,176) (8,523) (1,672)\nFinancing activities\nProceeds from offerings of common stock, net of issuance costs — — 1,853\nProceeds from issuance of common stock through equity plans 65 124 186\nRepurchases of common stock (3,329) (857) —\nChanges in financing lease liabilities (184) (140) (6)\nNet cash (used in) provided by financing activities (3,448) (873) 2,033\nNet (decrease) increase in cash, cash equivalents and restricted cash (3,643) 4,224 2,388\nCash, cash equivalents and restricted cash, beginning of year 6,860 2,636 248\nCash, cash equivalents and restricted cash, end of year $ 3,217 $ 6,860 $ 2,636\nSupplemental cash flow information\nCash paid for income taxes $ 2,729 $ 480 $ 1\nCash paid for interest $ 25 $ 14 $ 9\nNon-cash investing and financing activities\nPurchases of property, plant and equipment included in accounts payable and accrued liabilities $ 72 $ 111 $ 18\nThe Consolidated Statements of Cash Flows have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_company_type",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 29:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from _ to _\nCommission File Number: 001-38753\nModerna, Inc.\n(Exact Name of Registrant as Specified in Its Charter)\nDelaware 81-3467528\n(State or Other Jurisdiction of\nIncorporation or Organization)\n(IRS Employer Identification\nNo.)\n200 Technology Square\nCambridge, Massachusetts 02139\n(Address of Principal\nExecutive Offices)\n(Zip Code)\n(617) 714-6500\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Common stock, par value $0.0001 per share MRNA Securities registered pursuant to Section 12(g) of the Act: None\nName of each exchange on which registered\nThe Nasdaq Stock Market LLC\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nan emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_key_financials",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenue 19263m, net income 8362m, EPS basic 21.26, EPS diluted 20.12, cash flow from operating activities 4981m",
      "golden_context": "Page 2:\n\nModerna by the numbers\n2010\nfounding year\n3,900+\nteam members\nworldwide\n(up from 2,700 last year)\nCambridge, MA\nheadquarters\n50%\nwomen in\nour workforce\n8\nyears in a row\nas a Science\ntop employer\nDevelopment programs\nin active clinical trials\n36\nDevelopment\nprograms\n48\n44\n25\n25\n13\n41%\nof executives\nare women\n(up from 39%\nlast year)\n2020 2021 2022\nAll figures as of December 31, 2022.\n2020 2021 2022\n5\nMedical areas of focus\n• Infectious Diseases\n• Immuno-Oncology\n• _x0007_ Rare Diseases\n• Cardiovascular Diseases\n• Autoimmune Diseases\n\n\"Page 27:\n\nConsolidated Statements of Operations\nYears Ended December 31,\n(In millions, except per share data)\n2022 2021 2020\nRevenue:\nProduct sales $ 18,435 $ 17,675 $ 200\nGrant revenue 388 735 529\nCollaboration revenue 440 61 74\nTotal revenue 19,263 18,471 803\nOperating expenses:\nCost of sales 5,416 2,617 8\nResearch and development 3,295 1,991 1,370\nSelling, general and administrative 1,132 567 188\nTotal operating expenses 9,843 5,175 1,566\nIncome (loss) from operations 9,420 13,296 (763)\nInterest income 200 18 25\nOther expense, net (45) (29) (6)\nIncome (loss) before income taxes 9,575 13,285 (744)\nProvision for income taxes 1,213 1,083 3\nNet income (loss) $ 8,362 $ 12,202 $ (747)\nEarnings (loss) per share:\nBasic Diluted $ 21.26 $ 30.31 $ (1.96)\n$ 20.12 $ 28.29 $ (1.96)\nWeighted average common shares used in calculation\nof earnings (loss) per share:\nBasic 394 403 381\nDiluted 416 431 381\nThe Consolidated Statements of Operations have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.\"\n\nPage 28:\n\nConsolidated Statements of Cash Flows\nYears Ended December 31,\n(In millions) 2022 2021 2020\nOperating activities\nNet income (loss) $ 8,362 $ 12,202 $ (747)\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\nStock-based compensation 226 142 93\nDepreciation and amortization 348 232 31\nLeased assets expensed — — 62\nAmortization/accretion of investments 31 54 10\nDeferred income taxes (559) (318) —\nOther non-cash items 28 — —\nChanges in assets and liabilities:\nAccounts receivable 1,790 (1,784) (1,385)\nPrepaid expenses and other assets (1,699) (489) (241)\nInventory 492 (1,394) (47)\nRight-of-use assets, operating leases 21 (58) (11)\nAccounts payable 240 204 12\nAccrued liabilities 612 989 388\nDeferred revenue (4,157) 2,824 3,842\nIncome taxes payable (828) 876 —\nOperating lease liabilities (14) 17 12\nOther liabilities 88 123 8\nNet cash provided by operating activities 4,981 13,620 2,027\nInvesting activities\nPurchases of marketable securities (11,435) (12,652) (2,956)\nProceeds from maturities of marketable securities 3,151 1,338 1,137\nProceeds from sales of marketable securities 3,548 3,105 215\nPurchases of property, plant and equipment (400) (284) (68)\nInvestment in convertible notes and equity securities (40) (30) —\nNet cash used in investing activities (5,176) (8,523) (1,672)\nFinancing activities\nProceeds from offerings of common stock, net of issuance costs — — 1,853\nProceeds from issuance of common stock through equity plans 65 124 186\nRepurchases of common stock (3,329) (857) —\nChanges in financing lease liabilities (184) (140) (6)\nNet cash (used in) provided by financing activities (3,448) (873) 2,033\nNet (decrease) increase in cash, cash equivalents and restricted cash (3,643) 4,224 2,388\nCash, cash equivalents and restricted cash, beginning of year 6,860 2,636 248\nCash, cash equivalents and restricted cash, end of year $ 3,217 $ 6,860 $ 2,636\nSupplemental cash flow information\nCash paid for income taxes $ 2,729 $ 480 $ 1\nCash paid for interest $ 25 $ 14 $ 9\nNon-cash investing and financing activities\nPurchases of property, plant and equipment included in accounts payable and accrued liabilities $ 72 $ 111 $ 18\nThe Consolidated Statements of Cash Flows have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_revenue",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "19263m",
      "golden_context": "Page 27:\n\nConsolidated Statements of Operations\nYears Ended December 31,\n(In millions, except per share data)\n2022 2021 2020\nRevenue:\nProduct sales $ 18,435 $ 17,675 $ 200\nGrant revenue 388 735 529\nCollaboration revenue 440 61 74\nTotal revenue 19,263 18,471 803\nOperating expenses:\nCost of sales 5,416 2,617 8\nResearch and development 3,295 1,991 1,370\nSelling, general and administrative 1,132 567 188\nTotal operating expenses 9,843 5,175 1,566\nIncome (loss) from operations 9,420 13,296 (763)\nInterest income 200 18 25\nOther expense, net (45) (29) (6)\nIncome (loss) before income taxes 9,575 13,285 (744)\nProvision for income taxes 1,213 1,083 3\nNet income (loss) $ 8,362 $ 12,202 $ (747)\nEarnings (loss) per share:\nBasic Diluted $ 21.26 $ 30.31 $ (1.96)\n$ 20.12 $ 28.29 $ (1.96)\nWeighted average common shares used in calculation\nof earnings (loss) per share:\nBasic 394 403 381\nDiluted 416 431 381\nThe Consolidated Statements of Operations have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_revenue_growth",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "19263m, prior year 18471m",
      "golden_context": "Page 27:\n\nConsolidated Statements of Operations\nYears Ended December 31,\n(In millions, except per share data)\n2022 2021 2020\nRevenue:\nProduct sales $ 18,435 $ 17,675 $ 200\nGrant revenue 388 735 529\nCollaboration revenue 440 61 74\nTotal revenue 19,263 18,471 803\nOperating expenses:\nCost of sales 5,416 2,617 8\nResearch and development 3,295 1,991 1,370\nSelling, general and administrative 1,132 567 188\nTotal operating expenses 9,843 5,175 1,566\nIncome (loss) from operations 9,420 13,296 (763)\nInterest income 200 18 25\nOther expense, net (45) (29) (6)\nIncome (loss) before income taxes 9,575 13,285 (744)\nProvision for income taxes 1,213 1,083 3\nNet income (loss) $ 8,362 $ 12,202 $ (747)\nEarnings (loss) per share:\nBasic Diluted $ 21.26 $ 30.31 $ (1.96)\n$ 20.12 $ 28.29 $ (1.96)\nWeighted average common shares used in calculation\nof earnings (loss) per share:\nBasic 394 403 381\nDiluted 416 431 381\nThe Consolidated Statements of Operations have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000221_segments",
      "report_id": "ID_000221",
      "company_name": "Moderna",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "One reportable segments",
      "golden_context": "Page 149:\n\nBasis of Presentation and Principles of Consolidation\nOur consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP). Any\nreference in these notes to applicable guidance is meant to refer to the authoritative accounting principles generally accepted in the\nUnited States as found in the Accounting Standard Codification (ASC) and Accounting Standards Updates (ASU) of the Financial\nAccounting Standards Board (FASB).\nThe consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been\neliminated in consolidation.\nUse of Estimates\nWe have made estimates and judgments affecting the amounts reported in our consolidated financial statements and the accompanying\nnotes. We base our estimates on historical experience and various relevant assumptions that we believe to be reasonable under the\ncircumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities at the date\nof the financial statements and the reported amounts of revenue and expenses during the reporting periods that are not readily apparent\nfrom other sources. Significant estimates relied upon in preparing these financial statements include, but are not limited to, critical\naccounting policies or estimates related to revenue recognition, income taxes, valuation of deferred tax assets, inventory valuation,\nfirm purchase commitment liabilities, fair value of financial instruments, derivative financial instruments, leases, useful lives of\nproperty, plant and equipment, research and development expense, and stock-based compensation. The actual results that we\nexperience may differ materially from our estimates.\nSegment Information\nWe have determined that our chief executive officer is the chief operating decision maker (CODM). The CODM reviews financial\ninformation presented on a consolidated basis. Resource allocation decisions are made by the CODM based on consolidated results.\nThere are no segment managers who are held accountable by the CODM for operations, operating results, and planning for levels or\ncomponents below the consolidated unit level. As such, we have concluded that we operate as one segment.\nRevenue Recognition\nOur revenue is primarily generated through product sales. We also generate grant revenue from government-sponsored and private\norganizations, and collaboration revenue through collaboration arrangements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000222_cash_flow",
      "report_id": "ID_000222",
      "company_name": "Moderna",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -3118m, investing: 4206m, financing: -1377m, total cash flow: -289m",
      "golden_context": "Page 30:\n\nConsolidated Statements of Cash Flows\nYears Ended December 31,\n(in millions) 2023 2022\nOperating activities\nNet (loss) income $ (4,714) $ 8,362\nAdjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:\nStock-based compensation 305 226\nDepreciation and amortization 621 348\nAmortization/accretion of investments (61) 31\nLoss on equity investments, net 35 —\nDeferred income taxes 828 (559)\nOther non-cash items 7 28\nChanges in assets and liabilities, net of acquisition of business:\nAccounts receivable, net 493 1,790\nPrepaid expenses and other assets 974 (1,699)\nInventory 747 492\nRight-of-use assets, operating leases (605) 21\nAccounts payable 13 240\nAccrued liabilities (340) 612\nDeferred revenue (2,060) (4,157)\nIncome taxes payable 15 (828)\nOperating lease liabilities 551 (14)\nOther liabilities 73 88\nNet cash (used in) provided by operating activities (3,118) 4,981\nInvesting activities\nPurchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Purchases of property, plant and equipment Acquisition of business, net of cash acquired Investment in convertible notes and equity securities Net cash provided by (used in) investing activities (3,760) (11,435)\n5,575 3,151\n3,206 3,548\n(707) (400)\n(85) —\n(23) (40)\n4,206 (5,176)\nFinancing activities\nProceeds from issuance of common stock through equity plans Repurchase of common stock, including excise tax Changes in financing lease liabilities Net cash used in financing activities 46 65\n(1,153) (3,329)\n(270) (184)\n(1,377) (3,448)\nNet decrease in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of year (289) 3,217 (3,643)\n6,860\nCash, cash equivalents and restricted cash, end of period $ 2,928 $ 3,217\nThe Consolidated Statements of Cash Flows have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.\nmoderna 2023 annual report\n30\nConsolidated Statements of Cash Flows",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000222_key_financials",
      "report_id": "ID_000222",
      "company_name": "Moderna",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "6.7bn net product sales, 13.3bn cash balance",
      "golden_context": "Page 3:\n\nDelivering commercial impact\n$6.7B\nin net product\nsales in 2023\n48%\nU.S. COVID retail\nmarket share\nin fall 2023\n$13.3B\nin cash, cash equivalents\nand investments as\nof December 31, 2023\nAdvancing our pipeline\n4\ntherapeutic\nareas\n45\ndevelopment\nprograms\n9\nlate-stage\nprograms\nCreating a unique and diverse organization\n5,600\nemployees\nin 19 markets\n49%\nwomen in\nour workforce\n39%\nof executives\nare women\nCelebrating our culture\n2nd\nconsecutive year of equal\npay for equal work study\nshowing no significant\ndifferences in pay\n9\nyears in a row\nas a Science\ntop employer\nNo. 1\nranked large\ncompany in\nBioSpace Best\nPlaces to Work",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000222_revenue",
      "report_id": "ID_000222",
      "company_name": "Moderna",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "6848m",
      "golden_context": "Page 29:\n\nConsolidated Statements of Operations\nYears Ended December 31,\n(in millions, except per share data)\n2023 2022\nRevenue:\nNet product sales $ 6,671 $ 18,435\nOther revenue1 177 828\nTotal revenue 6,848 19,263\nOperating expenses:\nCost of sales 4,693 5,416\nResearch and development 4,845 3,295\nSelling, general and administrative 1,549 1,132\nTotal operating expenses 11,087 9,843\n(Loss) income from operations (4,239) 9,420\nInterest income 421 200\nOther expense, net (124) (45)\n(Loss) income before income taxes (3,942) 9,575\n(Benefit from) provision for income taxes 772 1,213\nNet (loss) income $ (4,714) $ 8,362\n(Loss) earnings per share:\nBasic $ (12.33) $ 21.26\nDiluted $ (12.33) $ 20.12\nWeighted average common shares used in calculation of (loss) earnings per share:\nBasic 382 394\nDiluted 382 416\n1. Includes grant revenue and collaboration revenue\nThe Consolidated Statements of Operations have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000222_revenue_growth",
      "report_id": "ID_000222",
      "company_name": "Moderna",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "6848m, prior year 19263m",
      "golden_context": "Page 29:\n\nConsolidated Statements of Operations\nYears Ended December 31,\n(in millions, except per share data)\n2023 2022\nRevenue:\nNet product sales $ 6,671 $ 18,435\nOther revenue1 177 828\nTotal revenue 6,848 19,263\nOperating expenses:\nCost of sales 4,693 5,416\nResearch and development 4,845 3,295\nSelling, general and administrative 1,549 1,132\nTotal operating expenses 11,087 9,843\n(Loss) income from operations (4,239) 9,420\nInterest income 421 200\nOther expense, net (124) (45)\n(Loss) income before income taxes (3,942) 9,575\n(Benefit from) provision for income taxes 772 1,213\nNet (loss) income $ (4,714) $ 8,362\n(Loss) earnings per share:\nBasic $ (12.33) $ 21.26\nDiluted $ (12.33) $ 20.12\nWeighted average common shares used in calculation of (loss) earnings per share:\nBasic 382 394\nDiluted 382 416\n1. Includes grant revenue and collaboration revenue\nThe Consolidated Statements of Operations have been derived from our audited consolidated financial statements included in Moderna’s Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_cash_flow",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating:  1431.5m, \ninvesting: -1019.9m, \nfinancing:  -836.5m",
      "golden_context": "Page 40:\n\namortization expense increased 10 basis points primarily due to the loss of leverage from the comparable\nstore net sales decrease and expenditures associated with the store renovation program.\nOperating income in fiscal 2021 included $13.9 million of COVID-19-related expenses. Fiscal 2020 included $115.5 million for\nCOVID-19-related expenses and $12.8 million of uninsured costs related to civil unrest. Excluding the $313.0 million non-cash\ngoodwill impairment charge in 2019, operating income margin for the Family Dollar segment was 2.1% in 2019.\nLiquidity and Capital Resources\nOur business requires capital to build and open new stores, expand and renovate existing stores, expand our distribution network\nand operate our existing stores. Our working capital requirements for existing stores are seasonal in nature and typically reach their\npeak in the months of September and October. Historically, we have satisfied our seasonal working capital requirements for existing\nstores and have funded our store opening and distribution network expansion programs from internally generated funds and\nborrowings under our credit facilities.\nThe following table compares cash flow-related information for the years ended January 29, 2022, January 30, 2021 and\nFebruary 1, 2020:\nYear Ended\nJanuary 29, January 30, February 1,\n(in millions) 2022 2021 2020\nNet cash provided by (used in):\nOperating activities $ 1,431.5 $ 2,716.3 $ 1,869.8\nInvesting activities (1,019.9) (889.7) (1,020.2)\nFinancing activities (836.5) (949.9) (709.8)\nOperating Activities\nNet cash provided by operating activities decreased $1,284.8 million in 2021 compared to 2020 primarily as a result of higher\ninventory levels and lower current liabilities, partially offset by higher accounts payable.\nInvesting Activities\nNet cash used in investing activities increased $130.2 million in 2021 compared with 2020 primarily due to higher capital\nexpenditures in the current year.\nFinancing Activities\nNet cash used in financing activities decreased $113.4 million in 2021 compared to 2020 primarily due to the following:\n• On December 1, 2021, we completed the registered offering of $800.0 million aggregate principal amount of Senior Notes\ndue 2031 and $400.0 million aggregate principal amount of Senior Notes due 2051 and used the proceeds of the offering to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_company_type",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n1934\nFor the fiscal year ended January 29, 2022\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from to\nCommission file number: 0-25464\nDOLLAR TREE, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 26-2018846\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n500 Volvo Parkway\nChesapeake, Virginia 23320\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (757) 321-5000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share DLTR NASDAQ Global Select Market\nSecurities registered pursuant to section 12(g) of the Act:\nNone\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_key_financials",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Consolidated net sales increased 3.1%, gross profit 7.7bn, annualized diluted EPS 5.8",
      "golden_context": "Page 3:\n\nAs we close out another pivotal year, I want to express\nmy gratitude to our more than 210,000 associates\nfor their accomplishments and contributions to our\nsuccess, particularly over these past two years. Through\nunprecedented challenges, especially in the retail space,\nour teams built upon the success of our key strategic\ninitiatives – Dollar Tree Plus, Combo Stores and the\nFamily Dollar H2 format, solidifying our foundation for\naccelerated growth. Even in the most challenging of times,\nour associates were there, serving millions of shoppers\nacross the U.S. and Canada every day. Thank you to\nevery associate for your hard work and dedication!\nSince taking on my current role as CEO, I have had\nthe pleasure of working alongside people I consider\namong the most talented leaders in retail, and while\nwe have already accomplished a great deal, in many\nways, I believe we are just getting started. With a\nrefreshed Board of Directors and a strong management\nteam, we are collectively committed to driving growth\nand delivering record results. We are gaining share\nand unlocking long-term shareholder value while also\ncapturing new opportunities.\n2021 in Review and 2022 Priorities\nIn 2021, we refined and improved our Company’s\nkey strategic initiatives, further sharpened our focus\non execution, and delivered record results in 2021,\nincluding:\n•\nConsolidated net sales increase of 3.1% from the\nprior year to a record $26.3 billion,\n•\nEnterprise same-store sales increase of 1.0%, on\ntop of the prior year’s increase of 6.1%,\n•\nGross profit of $7.7 billion,\n•\nLeveraged selling, general and administrative\nexpenses, which were 22.5% of total revenue,\n•\nEnterprise operating profit of $1.8 billion,\n•\nNet income of $1.3 billion, and\n•\nAnnual diluted earnings per share (EPS) of $5.80.\nAt the end of fiscal 2021, we had nearly $1.0\nbillion in cash on our balance sheet, $3.45 billion in\noutstanding debt, and $2.5 billion remaining on our\nshare repurchase authorization.\nFor fiscal 2022, we expect to deploy consolidated\ncapital expenditures of approximately $1.3 billion\nto build on our foundation and accelerate growth by\ninvesting in:\n•\nOpening 590 new stores, comprised of 400\nFamily Dollar and 190 Dollar Tree stores.\n•\nAdding Dollar Tree Plus merchandise to 1,500\nDollar Trees,\n•\nRenovating 800 Family Dollar stores into the H2\nformat,\n•\nAdding or replacing frozen and refrigerated\ncapability to select stores,\n•\nUpgrading our supply chain network, and\n•\nFurther developing information technology systems.\nDollar Tree\nDuring the first quarter of 2022, we successfully completed\nthe conversion to a $1.25 price point for a majority of\nour assortment across all Dollar Tree stores in the U.S.,\nsignificantly enhancing our team’s ability to provide a\nmeaningful assortment at extreme value to our shoppers.\n“We are gaining share and\nunlocking long-term shareholder\nvalue while also capturing new\nopportunities.“\nWe achieved this milestone by completing the\nconversion more than two months ahead of our initial\ntarget date, a testament to the commitment and teamwork\nbetween our support, merchandising and field leadership\nteams. Over time, the endeavor will enhance Dollar\nTree’s ability to drive store traffic and productivity,\ncustomer loyalty, and operating performance, while better\nenabling us to navigate the business through periods of\nhigher costs.\nThis is a strategy we have been considering for\nsome time, especially in recent years as constraints of the\n$1.00 price point forced us to remove many customer\nfavorite and key traffic-driving consumable products from\nour assortment. Additionally, with inflation, tariffs, supply\nchain and labor costs, we have been operating through\na higher cost environment. The new $1.25 price point\nenhances our ability to materially expand assortments,\nintroduce new products and sizes, and provide families\nwith more of their daily essentials.\nAs expected, we are seeing lifts to same-store sales,\npartially offset by smaller declines in unit sales. We are\nalso experiencing an initial lift to product margins that\nwill normalize over time as our merchandising teams\nevolve the assortments. The key has always been, and\nwill continue to be, delivering extreme value to our\ncustomers. We are focused on exceeding shopper\nexpectations for value at $1.25, just like we have for\nmore than 30 years at the $1.00 price point.\n“The progress we have made\nat Family Dollar in the past two\nyears has been remarkable.“\nAnother key initiative at Dollar Tree is the addition of\nthe $3 and $5 Plus assortment across more stores every\nyear. We concluded fiscal 2021 with the Plus assortment\nin approximately 660 stores, well beyond our original\ntarget of 500 stores. This program is increasingly\neffective in holiday and seasonal categories and we will\ncontinue to grow and improve on the offering. As we\nhave refined the Dollar Tree Plus concept, our operating\nmetrics in these stores have improved and have\nprovided us valuable insights that are contributing to the\naccelerated expansion. We plan to have the $3 and $5\nPlus assortment available in at least 5,000 Dollar Tree\nstores by the end of fiscal 2024.\nFamily Dollar\nThe progress we have made at Family Dollar in the\npast two years has been remarkable. Our shoppers\nare responding to the new merchandise offerings and\nimproved operational execution in our stores. This\nimprovement is evidenced in our customer satisfaction\nsurvey scores, which have seen considerable\nimprovement in the key categories of product\nassortment, customer service, store cleanliness, and\nspeed of check-out.\nAdditionally, the new and renovated stores in the\nH2 format, which include discrete sections of Dollar Tree\nmerchandise, continue to see a same-store sales lift of\ngreater than 10% in the first year.\nBuilding on the success of the H2 program, we\nhave further expanded our Combo Stores initiative,\nfirst launched in 2020, combining the best of Family\nDollar and Dollar Tree under one roof in rural markets.\nThe Combo Stores are delivering a powerful same-store\nsales lift of greater than 20% on average as customers\nlove shopping the best of these iconic brands in one\neasy-to-shop local store. In addition to the comp sales\nlift, Combo Stores are delivering increased productivity,\nhigher gross margins and improved operating\nperformance compared with other Family Dollar stores.\nWe ended fiscal 2021 with more than 240 Combo\nStores and are planning to add another 400 in\nfiscal 2022.\nWe have also begun testing the addition of fresh\nproduce and frozen meat to select Family Do",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_revenue",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "26.3bn",
      "golden_context": "Page 3:\n\nAs we close out another pivotal year, I want to express\nmy gratitude to our more than 210,000 associates\nfor their accomplishments and contributions to our\nsuccess, particularly over these past two years. Through\nunprecedented challenges, especially in the retail space,\nour teams built upon the success of our key strategic\ninitiatives – Dollar Tree Plus, Combo Stores and the\nFamily Dollar H2 format, solidifying our foundation for\naccelerated growth. Even in the most challenging of times,\nour associates were there, serving millions of shoppers\nacross the U.S. and Canada every day. Thank you to\nevery associate for your hard work and dedication!\nSince taking on my current role as CEO, I have had\nthe pleasure of working alongside people I consider\namong the most talented leaders in retail, and while\nwe have already accomplished a great deal, in many\nways, I believe we are just getting started. With a\nrefreshed Board of Directors and a strong management\nteam, we are collectively committed to driving growth\nand delivering record results. We are gaining share\nand unlocking long-term shareholder value while also\ncapturing new opportunities.\n2021 in Review and 2022 Priorities\nIn 2021, we refined and improved our Company’s\nkey strategic initiatives, further sharpened our focus\non execution, and delivered record results in 2021,\nincluding:\n•\nConsolidated net sales increase of 3.1% from the\nprior year to a record $26.3 billion,\n•\nEnterprise same-store sales increase of 1.0%, on\ntop of the prior year’s increase of 6.1%,\n•\nGross profit of $7.7 billion,\n•\nLeveraged selling, general and administrative\nexpenses, which were 22.5% of total revenue,\n•\nEnterprise operating profit of $1.8 billion,\n•\nNet income of $1.3 billion, and\n•\nAnnual diluted earnings per share (EPS) of $5.80.\nAt the end of fiscal 2021, we had nearly $1.0\nbillion in cash on our balance sheet, $3.45 billion in\noutstanding debt, and $2.5 billion remaining on our\nshare repurchase authorization.\nFor fiscal 2022, we expect to deploy consolidated\ncapital expenditures of approximately $1.3 billion\nto build on our foundation and accelerate growth by\ninvesting in:\n•\nOpening 590 new stores, comprised of 400\nFamily Dollar and 190 Dollar Tree stores.\n•\nAdding Dollar Tree Plus merchandise to 1,500\nDollar Trees,\n•\nRenovating 800 Family Dollar stores into the H2\nformat,\n•\nAdding or replacing frozen and refrigerated\ncapability to select stores,\n•\nUpgrading our supply chain network, and\n•\nFurther developing information technology systems.\nDollar Tree\nDuring the first quarter of 2022, we successfully completed\nthe conversion to a $1.25 price point for a majority of\nour assortment across all Dollar Tree stores in the U.S.,\nsignificantly enhancing our team’s ability to provide a\nmeaningful assortment at extreme value to our shoppers.\n“We are gaining share and\nunlocking long-term shareholder\nvalue while also capturing new\nopportunities.“\nWe achieved this milestone by completing the\nconversion more than two months ahead of our initial\ntarget date, a testament to the commitment and teamwork\nbetween our support, merchandising and field leadership\nteams. Over time, the endeavor will enhance Dollar\nTree’s ability to drive store traffic and productivity,\ncustomer loyalty, and operating performance, while better\nenabling us to navigate the business through periods of\nhigher costs.\nThis is a strategy we have been considering for\nsome time, especially in recent years as constraints of the\n$1.00 price point forced us to remove many customer\nfavorite and key traffic-driving consumable products from\nour assortment. Additionally, with inflation, tariffs, supply\nchain and labor costs, we have been operating through\na higher cost environment. The new $1.25 price point\nenhances our ability to materially expand assortments,\nintroduce new products and sizes, and provide families\nwith more of their daily essentials.\nAs expected, we are seeing lifts to same-store sales,\npartially offset by smaller declines in unit sales. We are\nalso experiencing an initial lift to product margins that\nwill normalize over time as our merchandising teams\nevolve the assortments. The key has always been, and\nwill continue to be, delivering extreme value to our\ncustomers. We are focused on exceeding shopper\nexpectations for value at $1.25, just like we have for\nmore than 30 years at the $1.00 price point.\n“The progress we have made\nat Family Dollar in the past two\nyears has been remarkable.“\nAnother key initiative at Dollar Tree is the addition of\nthe $3 and $5 Plus assortment across more stores every\nyear. We concluded fiscal 2021 with the Plus assortment\nin approximately 660 stores, well beyond our original\ntarget of 500 stores. This program is increasingly\neffective in holiday and seasonal categories and we will\ncontinue to grow and improve on the offering. As we\nhave refined the Dollar Tree Plus concept, our operating\nmetrics in these stores have improved and have\nprovided us valuable insights that are contributing to the\naccelerated expansion. We plan to have the $3 and $5\nPlus assortment available in at least 5,000 Dollar Tree\nstores by the end of fiscal 2024.\nFamily Dollar\nThe progress we have made at Family Dollar in the\npast two years has been remarkable. Our shoppers\nare responding to the new merchandise offerings and\nimproved operational execution in our stores. This\nimprovement is evidenced in our customer satisfaction\nsurvey scores, which have seen considerable\nimprovement in the key categories of product\nassortment, customer service, store cleanliness, and\nspeed of check-out.\nAdditionally, the new and renovated stores in the\nH2 format, which include discrete sections of Dollar Tree\nmerchandise, continue to see a same-store sales lift of\ngreater than 10% in the first year.\nBuilding on the success of the H2 program, we\nhave further expanded our Combo Stores initiative,\nfirst launched in 2020, combining the best of Family\nDollar and Dollar Tree under one roof in rural markets.\nThe Combo Stores are delivering a powerful same-store\nsales lift of greater than 20% on average as customers\nlove shopping the best of these iconic brands in one\neasy-to-shop local store. In addition to the comp sales\nlift, Combo Stores are delivering increased productivity,\nhigher gross margins and improved operating\nperformance compared with other Family Dollar stores.\nWe ended fiscal 2021 with more than 240 Combo\nStores and are planning to add another 400 in\nfiscal 2022.\nWe have also begun testing the addition of fresh\nproduce and frozen meat to select Family Do",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_revenue_growth",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Consolidated net sales increased 3.1%",
      "golden_context": "Page 3:\n\nAs we close out another pivotal year, I want to express\nmy gratitude to our more than 210,000 associates\nfor their accomplishments and contributions to our\nsuccess, particularly over these past two years. Through\nunprecedented challenges, especially in the retail space,\nour teams built upon the success of our key strategic\ninitiatives – Dollar Tree Plus, Combo Stores and the\nFamily Dollar H2 format, solidifying our foundation for\naccelerated growth. Even in the most challenging of times,\nour associates were there, serving millions of shoppers\nacross the U.S. and Canada every day. Thank you to\nevery associate for your hard work and dedication!\nSince taking on my current role as CEO, I have had\nthe pleasure of working alongside people I consider\namong the most talented leaders in retail, and while\nwe have already accomplished a great deal, in many\nways, I believe we are just getting started. With a\nrefreshed Board of Directors and a strong management\nteam, we are collectively committed to driving growth\nand delivering record results. We are gaining share\nand unlocking long-term shareholder value while also\ncapturing new opportunities.\n2021 in Review and 2022 Priorities\nIn 2021, we refined and improved our Company’s\nkey strategic initiatives, further sharpened our focus\non execution, and delivered record results in 2021,\nincluding:\n•\nConsolidated net sales increase of 3.1% from the\nprior year to a record $26.3 billion,\n•\nEnterprise same-store sales increase of 1.0%, on\ntop of the prior year’s increase of 6.1%,\n•\nGross profit of $7.7 billion,\n•\nLeveraged selling, general and administrative\nexpenses, which were 22.5% of total revenue,\n•\nEnterprise operating profit of $1.8 billion,\n•\nNet income of $1.3 billion, and\n•\nAnnual diluted earnings per share (EPS) of $5.80.\nAt the end of fiscal 2021, we had nearly $1.0\nbillion in cash on our balance sheet, $3.45 billion in\noutstanding debt, and $2.5 billion remaining on our\nshare repurchase authorization.\nFor fiscal 2022, we expect to deploy consolidated\ncapital expenditures of approximately $1.3 billion\nto build on our foundation and accelerate growth by\ninvesting in:\n•\nOpening 590 new stores, comprised of 400\nFamily Dollar and 190 Dollar Tree stores.\n•\nAdding Dollar Tree Plus merchandise to 1,500\nDollar Trees,\n•\nRenovating 800 Family Dollar stores into the H2\nformat,\n•\nAdding or replacing frozen and refrigerated\ncapability to select stores,\n•\nUpgrading our supply chain network, and\n•\nFurther developing information technology systems.\nDollar Tree\nDuring the first quarter of 2022, we successfully completed\nthe conversion to a $1.25 price point for a majority of\nour assortment across all Dollar Tree stores in the U.S.,\nsignificantly enhancing our team’s ability to provide a\nmeaningful assortment at extreme value to our shoppers.\n“We are gaining share and\nunlocking long-term shareholder\nvalue while also capturing new\nopportunities.“\nWe achieved this milestone by completing the\nconversion more than two months ahead of our initial\ntarget date, a testament to the commitment and teamwork\nbetween our support, merchandising and field leadership\nteams. Over time, the endeavor will enhance Dollar\nTree’s ability to drive store traffic and productivity,\ncustomer loyalty, and operating performance, while better\nenabling us to navigate the business through periods of\nhigher costs.\nThis is a strategy we have been considering for\nsome time, especially in recent years as constraints of the\n$1.00 price point forced us to remove many customer\nfavorite and key traffic-driving consumable products from\nour assortment. Additionally, with inflation, tariffs, supply\nchain and labor costs, we have been operating through\na higher cost environment. The new $1.25 price point\nenhances our ability to materially expand assortments,\nintroduce new products and sizes, and provide families\nwith more of their daily essentials.\nAs expected, we are seeing lifts to same-store sales,\npartially offset by smaller declines in unit sales. We are\nalso experiencing an initial lift to product margins that\nwill normalize over time as our merchandising teams\nevolve the assortments. The key has always been, and\nwill continue to be, delivering extreme value to our\ncustomers. We are focused on exceeding shopper\nexpectations for value at $1.25, just like we have for\nmore than 30 years at the $1.00 price point.\n“The progress we have made\nat Family Dollar in the past two\nyears has been remarkable.“\nAnother key initiative at Dollar Tree is the addition of\nthe $3 and $5 Plus assortment across more stores every\nyear. We concluded fiscal 2021 with the Plus assortment\nin approximately 660 stores, well beyond our original\ntarget of 500 stores. This program is increasingly\neffective in holiday and seasonal categories and we will\ncontinue to grow and improve on the offering. As we\nhave refined the Dollar Tree Plus concept, our operating\nmetrics in these stores have improved and have\nprovided us valuable insights that are contributing to the\naccelerated expansion. We plan to have the $3 and $5\nPlus assortment available in at least 5,000 Dollar Tree\nstores by the end of fiscal 2024.\nFamily Dollar\nThe progress we have made at Family Dollar in the\npast two years has been remarkable. Our shoppers\nare responding to the new merchandise offerings and\nimproved operational execution in our stores. This\nimprovement is evidenced in our customer satisfaction\nsurvey scores, which have seen considerable\nimprovement in the key categories of product\nassortment, customer service, store cleanliness, and\nspeed of check-out.\nAdditionally, the new and renovated stores in the\nH2 format, which include discrete sections of Dollar Tree\nmerchandise, continue to see a same-store sales lift of\ngreater than 10% in the first year.\nBuilding on the success of the H2 program, we\nhave further expanded our Combo Stores initiative,\nfirst launched in 2020, combining the best of Family\nDollar and Dollar Tree under one roof in rural markets.\nThe Combo Stores are delivering a powerful same-store\nsales lift of greater than 20% on average as customers\nlove shopping the best of these iconic brands in one\neasy-to-shop local store. In addition to the comp sales\nlift, Combo Stores are delivering increased productivity,\nhigher gross margins and improved operating\nperformance compared with other Family Dollar stores.\nWe ended fiscal 2021 with more than 240 Combo\nStores and are planning to add another 400 in\nfiscal 2022.\nWe have also begun testing the addition of fresh\nproduce and frozen meat to select Family Do",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000223_segments",
      "report_id": "ID_000223",
      "company_name": "Dollar Tree",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Dollar Tree and Family Dollar",
      "golden_context": "Page 12:\n\nor of discount variety stores with a solid history of growth and performance. Our stores operate under the\nbrand names of Dollar Tree, Family Dollar and Dollar Tree Canada. At January 29, 2022, we operated 16,077 discount variety retail\nstores across 48 states and five Canadian provinces and over the long-term, we believe that the market can support more than 10,000\nDollar Tree stores and 15,000 Family Dollar stores across the United States, and approximately 1,000 Dollar Tree stores in Canada.\nWe believe the convenience and value we offer are key factors in serving and growing our base of loyal customers.\nWe operate in two reporting business segments: Dollar Tree and Family Dollar. For discussion of the operating results of our\nreporting business segments, refer to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations” under the caption “Segment Information” and Note 11 to our consolidated financial statements.\nWe execute a dual-banner strategy that aims to offer the best of our brands in various store formats to serve customers in all types\nof geographic markets. Dollar Tree is the leading operator of discount variety stores offering merchandise predominantly at the fixed\nprice point of $1.25. Dollar Tree stores serve a broad range of income customers in suburban locations, striving continuously to\n“Wow” the customer with a compelling, fun and fresh merchandise assortment comprising a variety of the things the customer wants\nand needs, all at incredible values in bright, clean and friendly stores. Family Dollar operates general merchandise retail discount\nstores providing customers with a selection of competitively-priced merchandise in convenient neighborhood stores. Family Dollar\nprimarily serves a lower than average income customer in urban and rural locations, offering great values on everyday items.\nWe are committed to growing our combined business through new store openings and through our store relocation, expansion and\nremodel program. We plan to open new stores in underserved markets and to strategically increase our presence in our existing\nmarkets. We are executing our strategic initiatives including Dollar Tree Plus and the Family Dollar H2 and Combination Store (or\nCombo Store) format initiatives. We are focused on revitalizing our assortment in every store by leveraging the complementary\nmerchandise expertise of each segment, including Dollar Tree’s sourcing and product development expertise and Family Dollar’s\nconsumer package goods and national brands sourcing expertise. These initiatives are discussed further in the overview of each\nsegment below.\nCorporate Culture\nWe believe that honesty and integrity, and treating people fairly and with respect are core values within our corporate culture. We\nbelieve that running a business, and certainly a public company, carries with it a responsibility to be above reproach when making\noperational and financial decisions. Our executive management team visits and shops at our stores like every customer, and ideas and\nindividual creativity on the part of our associates are encouraged, particularly from our store managers who know their stores and their\ncustomers. We have standards for store displays, merchandise presentation, and store operations. We maintain an open door policy for\nall associates. Our distribution centers are operated based on objective measures of performance and virtually everyone in our store\nsupport center is available to assist associates in our stores and distribution centers. For more information, see Human Capital\nResources below.\nOur disclosure committee meets at least quarterly and monitors our internal controls over financial reporting to ensure that our\npublic filings contain discussions about the potential risks our business faces. We believe that we have appropriate controls in place to\nbe able to certify our financial statements. Additionally, we have complied with the listing requirements for the Nasdaq Global Select\nMarket.\nDollar Tree\nThe Dollar Tree segment includes 8,061 stores operating under the D",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_cash_flow",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1614.8m, investing: -1253.8m, financing: -686.8m",
      "golden_context": "Page 37:\n\nLiquidity and Capital Resources\nWe invest capital to build and open new stores, expand and renovate existing stores, expand our distribution network and operate\nour existing stores. Our working capital requirements for existing stores are seasonal in nature and typically reach their peak in the\nmonths of September and October. Historically, we have satisfied our seasonal working capital requirements for existing stores and\nhave funded our store opening and distribution network expansion programs from internally generated funds and borrowings under\nour credit facilities.\n31\nTable of Contents\nThe following table compares cash flow-related information for the years ended January 28, 2023, January 29, 2022 and\nJanuary 30, 2021:\nYear Ended\nJanuary 28, January 29, January 30,\n(in millions) 2023 2022 2021\nNet cash provided by (used in):\nOperating activities $ 1,614.8 $ 1,431.5 $ 2,716.3\nInvesting activities (1,253.8) (1,019.9) (889.7)\nFinancing activities (686.8) (836.5) (949.9)\nOperating Activities\nNet cash provided by operating activities increased $183.3 million in 2022 compared to 2021 primarily as a result of higher\ncurrent year earnings, net of non-cash items, and smaller decreases in liability balances, partially offset by higher inventory levels and\na smaller increase in accounts payable.\nInvesting Activities\nNet cash used in investing activities increased $233.9 million in 2022 compared with 2021 primarily due to higher capital\nexpenditures in the current year.\nFinancing Activities\nNet cash used in financing activities decreased $149.7 million in 2022 compared to 2021 primarily due to the following:\n• In 2022, we paid $647.5 million in cash for stock repurchases compared to $950.0 million in the prior year.\n• In 2021, we completed the registered offering of $800.0 million aggregate principal amount of Senior Notes due 2031 and\n$400.0 million aggregate principal amount of Senior Notes due 2051 and used the proceeds of the offering to redeem the\n$1.0 billion 2023 Notes, which resulted in our incurring a $43.8 million prepayment penalty. In addition, in connection\nwith the registering of these senior notes and the refinancing of our revolving line of credit, we paid $15.5 million in\ndeferred financing costs.\nAt January 28, 2023, our long-term borrowings were $3.45 billion and we had $1.5 billion available under our revolving credit\nfacility, less amounts outstanding for standby letters of credit totaling $4.4 million. For additional detail on our long-term borrowings\nand other commitments, refer to the discussion of Funding Requirements below,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_company_type",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 6:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n1934\nFor the fiscal year ended January 28, 2023\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from to\nCommission file number: 0-25464\nDOLLAR TREE, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 26-2018846\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n500 Volvo Parkway\nChesapeake, Virginia 23320\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (757) 321-5000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share DLTR NASDAQ Global Select Market\nSecurities registered pursuant to section 12(g) of the Act:\nNone\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_key_financials",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "7.6% increase in net sales, net income of 1.6bn, EPS diluted 7.21",
      "golden_context": "Page 3:\n\nce, and we are moving as quickly as possible to capture the full potential\nof each of our business segments, Dollar Tree and Family Dollar. With the current\neconomic climate driving higher income consumers into value retail, we believe we\nare in an excellent position to deliver the quality, value and convenience that shoppers\nwant and expect today.\nDelivering Strong Results in a\nYear of Dynamic Change\nAccomplishments for the Dollar Tree and Family Dollar teams in 2022 included:\n•\nA net sales increase of 7.6% to a company-record $28.3 billion;\n•\nSame-store sales growth of 9.0% in the Dollar Tree segment, its strongest annual\nincrease in nearly three decades;\n•\nFamily Dollar’s 2.4% same-store sales increase, comprised of accelerating comps\nby quarter, and a return to positive comparable transaction count growth in the\nback half of the year;\n•\nA 210-basis point improvement in gross margin, to 31.5%; and\n•\nNet income of $1.6 billion, leading to earnings per diluted share of $7.21, a\n24.3% increase compared to the prior year.\nThe cornerstone of\nour business is our\npeople, and a key\nfocus continues to\nbe on supporting\nand enabling our\nassociates to be\nsuccessful.\nOngoing Commitment to Our Associates\nThe cornerstone of our business is our people, and a key focus continues to be on supporting and\nenabling our associates to be successful. Under our new leadership team, we are increasing average\nhourly wages for store associates and making investments in field personnel. Importantly, we expect these",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_revenue",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "28.3bn",
      "golden_context": "Page 3:\n\nce, and we are moving as quickly as possible to capture the full potential\nof each of our business segments, Dollar Tree and Family Dollar. With the current\neconomic climate driving higher income consumers into value retail, we believe we\nare in an excellent position to deliver the quality, value and convenience that shoppers\nwant and expect today.\nDelivering Strong Results in a\nYear of Dynamic Change\nAccomplishments for the Dollar Tree and Family Dollar teams in 2022 included:\n•\nA net sales increase of 7.6% to a company-record $28.3 billion;\n•\nSame-store sales growth of 9.0% in the Dollar Tree segment, its strongest annual\nincrease in nearly three decades;\n•\nFamily Dollar’s 2.4% same-store sales increase, comprised of accelerating comps\nby quarter, and a return to positive comparable transaction count growth in the\nback half of the year;\n•\nA 210-basis point improvement in gross margin, to 31.5%; and\n•\nNet income of $1.6 billion, leading to earnings per diluted share of $7.21, a\n24.3% increase compared to the prior year.\nThe cornerstone of\nour business is our\npeople, and a key\nfocus continues to\nbe on supporting\nand enabling our\nassociates to be\nsuccessful.\nOngoing Commitment to Our Associates\nThe cornerstone of our business is our people, and a key focus continues to be on supporting and\nenabling our associates to be successful. Under our new leadership team, we are increasing average\nhourly wages for store associates and making investments in field personnel. Importantly, we expect these",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_revenue_growth",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "7.6% net sales increase",
      "golden_context": "Page 3:\n\nce, and we are moving as quickly as possible to capture the full potential\nof each of our business segments, Dollar Tree and Family Dollar. With the current\neconomic climate driving higher income consumers into value retail, we believe we\nare in an excellent position to deliver the quality, value and convenience that shoppers\nwant and expect today.\nDelivering Strong Results in a\nYear of Dynamic Change\nAccomplishments for the Dollar Tree and Family Dollar teams in 2022 included:\n•\nA net sales increase of 7.6% to a company-record $28.3 billion;\n•\nSame-store sales growth of 9.0% in the Dollar Tree segment, its strongest annual\nincrease in nearly three decades;\n•\nFamily Dollar’s 2.4% same-store sales increase, comprised of accelerating comps\nby quarter, and a return to positive comparable transaction count growth in the\nback half of the year;\n•\nA 210-basis point improvement in gross margin, to 31.5%; and\n•\nNet income of $1.6 billion, leading to earnings per diluted share of $7.21, a\n24.3% increase compared to the prior year.\nThe cornerstone of\nour business is our\npeople, and a key\nfocus continues to\nbe on supporting\nand enabling our\nassociates to be\nsuccessful.\nOngoing Commitment to Our Associates\nThe cornerstone of our business is our people, and a key focus continues to be on supporting and\nenabling our associates to be successful. Under our new leadership team, we are increasing average\nhourly wages for store associates and making investments in field personnel. Importantly, we expect these",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000224_segments",
      "report_id": "ID_000224",
      "company_name": "Dollar Tree",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Dollar Tree and Family Dollar",
      "golden_context": "Page 11:\n\nm 1. Business\nOverview\nWe are a leading operator of discount variety stores with a solid history of growth and performance. Our stores operate under the\nbrand names of Dollar Tree, Family Dollar and Dollar Tree Canada. At January 28, 2023, we operated 16,340 discount variety retail\nstores across 48 states and five Canadian provinces and over the long-term, we believe that the market can support more than 10,000\nDollar Tree stores and 15,000 Family Dollar stores across the United States, and approximately 1,000 Dollar Tree stores in Canada.\nWe believe the convenience and value we offer are key factors in serving and growing our base of loyal customers.\nWe operate in two reporting business segments: Dollar Tree and Family Dollar. For discussion of the operating results of our\nreporting business segments, refer to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations” under the caption “Segment Information” and Note 11 to our consolidated financial statements.\nWe execute a dual-banner strategy that aims to offer the best of our brands in various store formats to serve customers in all types\nof geographic markets. Dollar Tree is the leading operator of discount variety stores offering merchandise predominantly at the fixed\nprice point of $1.25. Dollar Tree stores serve customers with a broad range of income levels in suburban locations, striving\ncontinuously to “Wow” the customer with a compelling, fun and fresh merchandise assortment comprised of a variety of the things the\ncustomer wants and needs, all at incredible values in bright, clean and friendly stores. Family Dollar operates general merchandise\nretail discount stores providing customers with a selection of competitively-priced merchandise in convenient neighborhood stores.\nFamily Dollar primarily serves a lower than average income customer in urban and rural locations, offering great values on everyday\nitems.\nWe are committed to growing our combined business through new store openings and through our store relocation, expansion and\nremodel program. We plan to open new stores in underserved markets and to strategically increase our presence in our existing\nmarkets. We are executing our strategic initiatives including Dollar Tree Plus and the Family Dollar H2 and Combination Store (or\nCombo Store) format initiatives. We are focused on refining our assortment in every store by leveraging the complementary\nmerchandise expertise of each segment, including Dollar Tree’s sourcing and product development expertise and Family Dollar’s\nconsumer package goods and national brands sourcing expertise. These initiatives are discussed further in the overview of each\nsegment below.\nCorporate Culture\nWe believe that honesty and integrity, and treating people fairly and with respect are core values within our corporate culture. We\nbelieve that running a business, and certainly a public company, carries with it a responsibility to be above reproach when making\noperational and financial decisions. Our executive management team visits and shops at our stores like every customer, and ideas and\nindividual creativity on the part of our associates are encouraged, particularly from our store managers who best know their stores and\ntheir customers. We have standards for store displays, merchandise presentation, and store operations. We maintain an open-door\npolicy for all associates. Our distribution centers are operated based on objective measures of performance and our store support center\nassociates are available to assist associates in our stores and distribution centers. For more information, see Human Capital Resources\nbelow.\nDollar Tree\nThe Dollar Tree segment includes 8,134 stores operating under the Dollar Tree and Dollar Tree Canada brands, 15 distribution\ncenters in the United States and two in Canada. Our stores predominantly range from 8,000 - 10,000 selling square feet. During the\nthird quarter of 2021, we announced our new $1.25 price point initiative and we completed the rollout of this initiative to all Dollar\nTree stores in the United States during the first quarter of fiscal 2022, increasing the price point on a majority of our $1.00\nmerchandise to $1.25. During fiscal 2022, we began investing in new products and modifying existing products to provide greater\nvalue for our customers and increase customer traffic and store productivity. We continue to expand our Dollar Tree Plus initiative\nwhich provides our customers with extraordinary value in discretionary and consumable categories priced at the $3, $4 and $5 price\npoints. During 2021, we entered into a partnership with Instacart and as of January 28, 2023, our customers can shop online and\nreceive same-day delivery from more than 7,800 Dollar Tree stores without having to visit a store. We are the owners of several\ntrademarks including “Dollar Tree” and the “Dollar Tree” logo.\nIn our Dollar Tree Canada stores, we sell items principally for $1.50(C",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_cash_flow",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2684.5m, investing: -2107.6m, financing: -530.0m",
      "golden_context": "Page 40:\n\nOther selling, general and administrative expenses increased approximately 10 basis points primarily due to unfavorable\ndevelopment of general liability claims, partially offset by prior year long-lived asset impairments. During fiscal 2023,\ngeneral liability claims began to develop and pay out at amounts significantly higher than anticipated. As a result, we\nincreased our actuarially determined general liability accruals which led to an approximately 20 basis point increase in our\ngeneral liability expenses. See the “Critical Accounting Estimates and Assumptions” later in this “Item 7. Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations” for more information on the calculation of our\nSelf-Insurance Liabilities.\n• Depreciation and amortization expense increased approximately 5 basis points primarily due to capital expenditures related\nto store renovations and improvements, partially offset by leverage from the comparable store net sales increase and\nleverage from the 53rd week of sales in the current year.\nLiquidity and Capital Resources\nWe invest capital to build and open new stores, expand and renovate existing stores, enhance and grow our distribution network,\noperate our existing stores, maintain and upgrade our technology, and support our other strategic initiatives. Our working capital\nrequirements for existing stores are seasonal in nature and typically reach their peak in the months of September and October. We\nhave satisfied our seasonal working capital requirements for existing and new stores and have funded our distribution network\nprograms and other capital projects from internally generated funds and borrowings under our credit facilities and commercial paper\nprogram.\nJanuary 29, 2022:\nThe following table compares cash flow-related information for the years ended February 3, 2024, January 28, 2023 and\nYear Ended\n(in millions)\nFebruary 3,\n2024\nJanuary 28,\n2023\nJanuary 29,\n2022\nNet cash provided by (used in):\nOperating activities $ 2,684.5 $ 1,614.8 $ 1,431.5\nInvesting activities (2,107.6) (1,253.8) (1,019.9)\nFinancing activities (530.0) (686.8) (836.5)\nOperating Activities\nNet cash provided by operating activities increased $1,069.7 million in fiscal 2023 compared to fiscal 2022 primarily due to\nimproving inventory levels, partially offset by lower current year earnings, net of non-cash items. Inventory decreased $335.6 million\nduring fiscal 2023 compared to an increase of $1,085.4 million during fiscal 2022.\nInvesting Activities\nNet cash used in investing activities increased $853.8 million in fiscal 2023 compared with fiscal 2022 due to higher capital\nexpenditures in the current year.\nFinancing Activities\nNet cash used in financing activities decreased $156.8 million in fiscal 2023 compared to fiscal 2022 primarily due to lower\npayments for stock repurchases in the current year.\nFor detail on our long-term and short-term borrowings and other commitments, refer to the discussion of “Funding Requirements”\nbelow, as well as Note 5 and ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_company_type",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n1934\nFor the fiscal year ended February 3, 2024\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from to\nCommission file number: 0-25464\nDOLLAR TREE, INC.\n(Exact name of registrant as specified in its charter)\nVirginia 26-2018846\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n500 Volvo Parkway\nChesapeake, Virginia 23320\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (757) 321-5000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share DLTR NASDAQ Global Select Market\nSecurities registered pursuant to section 12(g) of the Act:\nNone\n(Title of Class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_key_financials",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "8.0% net sales growth, 30.6bn net sales, same-store sales growth 3.2%",
      "golden_context": "Page 4:\n\nKey Accomplishments in 2023\nThroughout 2023 we executed on multiple growth initiatives designed to improve store conditions,\nmodernize our supply chain operations, and update our information technology systems.\nHighlights from 2023 include:\n•\n•\n•\n•\n•\n•\n•\n•\nNet sales growth of 8.0% to a record $30.6 billion;\nSame-store sales growth of 5.8% in the Dollar Tree segment, which\ncame on top of a 9.0% increase in 2022;\nSame-store sales growth of 3.2% in the Family Dollar segment,\nreflecting positive momentum in both customer traffic and average\nticket;\nOpened a record 641 new stores.\nIn the Family Dollar segment, we launched 250 new private brands,\nconverted 300 control brands to private brands, added a net 900 new\nSKUs, completed planogram resets, and raised the merchandise height\nprofile to 78 inches across the portfolio;\nIn the Dollar Tree segment, we expanded our $3, $4, and $5 frozen\nand refrigerated items to more than 6,500 stores and our $3 and $5\ncenter-store merchandise to approximately 5,000 stores. In the current year, we are rolling\nout our “More Choices” program and fully integrating multi-price items into approximately\n3,000 stores and expanding our assortment by over 300 items.\nIn Supply Chain, our distribution center in Matthews, North Carolina is the first to be fully\noperational with state-of-the-art Rotacart technology. We are also making significant\nprogress in adding temperature control to facilities across our distribution network.\nImportantly, we are on track to return to West Memphis, Arkansas, later in 2024 with a\nnewly transformed distribution center.\nAs part of our Information Technology modernization, we began rolling out our new\nWarehouse Management system. This investment, along with other new enterprise-\nwide solutions like our Transportation Management and Labor Management systems is\ndesigned to deliver additional operating efficiencies across the company.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_revenue",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "30.6bn",
      "golden_context": "Page 4:\n\nKey Accomplishments in 2023\nThroughout 2023 we executed on multiple growth initiatives designed to improve store conditions,\nmodernize our supply chain operations, and update our information technology systems.\nHighlights from 2023 include:\n•\n•\n•\n•\n•\n•\n•\n•\nNet sales growth of 8.0% to a record $30.6 billion;\nSame-store sales growth of 5.8% in the Dollar Tree segment, which\ncame on top of a 9.0% increase in 2022;\nSame-store sales growth of 3.2% in the Family Dollar segment,\nreflecting positive momentum in both customer traffic and average\nticket;\nOpened a record 641 new stores.\nIn the Family Dollar segment, we launched 250 new private brands,\nconverted 300 control brands to private brands, added a net 900 new\nSKUs, completed planogram resets, and raised the merchandise height\nprofile to 78 inches across the portfolio;\nIn the Dollar Tree segment, we expanded our $3, $4, and $5 frozen\nand refrigerated items to more than 6,500 stores and our $3 and $5\ncenter-store merchandise to approximately 5,000 stores. In the current year, we are rolling\nout our “More Choices” program and fully integrating multi-price items into approximately\n3,000 stores and expanding our assortment by over 300 items.\nIn Supply Chain, our distribution center in Matthews, North Carolina is the first to be fully\noperational with state-of-the-art Rotacart technology. We are also making significant\nprogress in adding temperature control to facilities across our distribution network.\nImportantly, we are on track to return to West Memphis, Arkansas, later in 2024 with a\nnewly transformed distribution center.\nAs part of our Information Technology modernization, we began rolling out our new\nWarehouse Management system. This investment, along with other new enterprise-\nwide solutions like our Transportation Management and Labor Management systems is\ndesigned to deliver additional operating efficiencies across the company.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_revenue_growth",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8% net sales growth",
      "golden_context": "Page 4:\n\nKey Accomplishments in 2023\nThroughout 2023 we executed on multiple growth initiatives designed to improve store conditions,\nmodernize our supply chain operations, and update our information technology systems.\nHighlights from 2023 include:\n•\n•\n•\n•\n•\n•\n•\n•\nNet sales growth of 8.0% to a record $30.6 billion;\nSame-store sales growth of 5.8% in the Dollar Tree segment, which\ncame on top of a 9.0% increase in 2022;\nSame-store sales growth of 3.2% in the Family Dollar segment,\nreflecting positive momentum in both customer traffic and average\nticket;\nOpened a record 641 new stores.\nIn the Family Dollar segment, we launched 250 new private brands,\nconverted 300 control brands to private brands, added a net 900 new\nSKUs, completed planogram resets, and raised the merchandise height\nprofile to 78 inches across the portfolio;\nIn the Dollar Tree segment, we expanded our $3, $4, and $5 frozen\nand refrigerated items to more than 6,500 stores and our $3 and $5\ncenter-store merchandise to approximately 5,000 stores. In the current year, we are rolling\nout our “More Choices” program and fully integrating multi-price items into approximately\n3,000 stores and expanding our assortment by over 300 items.\nIn Supply Chain, our distribution center in Matthews, North Carolina is the first to be fully\noperational with state-of-the-art Rotacart technology. We are also making significant\nprogress in adding temperature control to facilities across our distribution network.\nImportantly, we are on track to return to West Memphis, Arkansas, later in 2024 with a\nnewly transformed distribution center.\nAs part of our Information Technology modernization, we began rolling out our new\nWarehouse Management system. This investment, along with other new enterprise-\nwide solutions like our Transportation Management and Labor Management systems is\ndesigned to deliver additional operating efficiencies across the company.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000225_segments",
      "report_id": "ID_000225",
      "company_name": "Dollar Tree",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Dollar Tree and Family Dollar",
      "golden_context": "Page 11:\n\nItem 1. Business\nOverview\nWe are a leading operator of retail discount stores operating under the brand names of Dollar Tree, Family Dollar and Dollar Tree\nCanada. At February 3, 2024, we operated 16,774 retail discount stores across 48 states and five Canadian provinces. Over the long-\nterm, we believe that the market can support more than 10,000 Dollar Tree stores and 15,000 Family Dollar stores across the United\nStates, and approximately 1,000 Dollar Tree stores in Canada. We believe the convenience and value we offer are key factors in\nserving and growing our base of loyal customers.\nWe operate in two reporting business segments: Dollar Tree and Family Dollar. For discussion of the operating results of our\nreporting business segments, refer to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations” under the caption “Segment Information” and Note 13 to our consolidated financial statements.\nWe execute a dual-banner strategy that aims to offer the best of our brands in various store formats to serve customers in all types\nof geographic markets. Dollar Tree is the leading operator of discount variety stores offering merchandise predominantly at the $1.25\nprice point, with a growing range of additional price points. Dollar Tree stores serve customers with a broad range of income levels in\nsuburban locations, striving continuously to “Wow” the customer with a compelling, fun and fresh merchandise assortment comprised\nof a variety of the things the customer wants and needs, all at incredible values in bright, clean and friendly stores. Family Dollar\noperates general merchandise retail discount stores providing customers with a selection of competitively-priced merchandise in\nconvenient neighborhood stores. Family Dollar primarily serves a lower-than-average income customer in urban and rural locations,\noffering great values on everyday items.\nWe are committed to growing our business through new store openings, expanded geographies, improved product offerings, store\nrenovations and remodeling, investments in our workforce and other initiatives to modernize and optimize our stores, our supply chain\nand distribution network and our technology. These initiatives are discussed further below and in “Item 7. Management’s Discussion\nand Analysis of Financial Condition and Results of Operations.”\nCorporate Culture\nAt Dollar Tree and Family Dollar our core values drive how we treat our customers and each other to support a welcoming\nshopping experience and an engaging work environment. At every level of our organization, we build our culture by serving with\naccountability, inspiring belonging, championing empowerment, operating with excellence, and acting with integrity. With new senior\nleadership throughout the organization, we focus our ways of working on open, frequent communication and approach our roles with a\ncontinuous improvement mindset. Our new communication vehicles foster two-way dialogue and offer continuous touchpoints for\nassociates to hear about our strategy, values and ways of working, learn from senior leaders about our business progress and connect\nwith one another. Additionally, our people programs, as well as our meaningful focus on diversity, equity, inclusion and belonging,\nreinforce our shared values and behaviors. For more information, see the “Our People” section below.\nDollar Tree\nThe Dollar Tree segment includes 8,415 stores operating under the Dollar Tree and Dollar Tree Canada brands, 15 distribution\ncenters in the United States and two in Canada as of February 3, 2024. Our stores predominantly range from 8,000 - 10,000 selling\nsquare feet. We continue to expand our brand assortment at the $1.25 price point to provide greater value for our customers and\nincrease customer traffic and store productivity. We are continuing to expand our multi-price product assortment, which began with\nour introduction of $3 and $5 Dollar Tree Plus product in select discretionary categories, expanded into $3, $4 and $5 frozen and\nrefrigerated product, and now comprises a wide assortment of other consumable and discretionary product. Through a partnership with\nInstacart, our customers can shop online and receive same-day delivery from more than 7,500 Dollar Tree stores, as of February 3,\n2024, without having to visit a sto",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_cash_flow",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1351.7m, investing: -1913.8m, financing: 443.4m",
      "golden_context": "Page 71:\n\nmount for 2022. Actual amounts for years after 2022 could be significantly different than the estimated amounts in\nthe table above.\nFuel commitments consist of commitments for nuclear fuel, coal and coal transportation costs. Power commitments\nconsist of certain commitments for renewable energy under power purchase agreements, capacity purchases and\nfirm transmission service.\nAt December 31, 2021, Evergy has other insignificant commitments as well as other insignificant long-term\nliabilities recorded on its consolidated balance sheet, which are not included in the table above.\nCommon Stock Dividends\nThe amount and timing of dividends payable on Evergy's common stock are within the sole discretion of the Evergy\nBoard. The amount and timing of dividends declared by the Evergy Board will be dependent on considerations\nsuch as Evergy's earnings, financial position, cash flows, capitalization ratios, regulation, reinvestment opportunities\nand debt covenants. Evergy targets a long-term dividend payout ratio of 60% to 70% of earnings. See Note 1 to the\nconsolidated financial statements for information on the common stock dividend declared by the Evergy Board in\nFebruary 2022.\nThe Evergy Companies also have certain restrictions stemming from statutory requirements, corporate\norganizational documents, covenants and other conditions that could affect dividend levels. See Note 17 to the\nconsolidated financial statements for further discussion of restrictions on dividend payments.\nCash Flows\nThe following table presents Evergy's cash flows from operating, investing and financing activities.\n2021 2020\n(millions)\nCash flows from operating activities $ 1,351.7 $ 1,753.8\nCash flows used in investing activities (1,913.8) (1,533.7)\nCash flows from (used in) financing activities 443.4 (98.4)\nCash Flows from Operating Activities\nEvergy's cash flows from operating activities decreased $402.1 million in 2021, compared to 2020, primarily driven\nby:\n• $365.5 million of cash payments for net fuel and purchased power costs during the February 2021 winter\nweather event;\n• a $182.3 million increase in cash payments in 2021 primarily due to the timing of payments made to taxing\nauthorities for property tax payments as well as various suppliers and service providers for goods and\nservices purchased in the ordinary course of business; and\n• $35.4 million in payments made for a Wolf Creek refueling outage in 2021; partially offset by\n• a $194.9 million increase in cash receipts for retail electric sales in 2021 primarily driven by favorable\nweather and an increase in weather-normalized commercial and industrial demand; and\n• $89.9 million of cash receipts related to non-regulated energy marketing margins earned during the\nFebruary 2021 winter weather event.\nCash Flows used in Investing Activities\nEvergy's cash flows used in investing activities increased $380.1 million in 2021, compared to 2020, primarily\ndriven by:\n• a $412.2 million increase in additions to property, plant and equipment due to increases at Evergy Kansas\nCentral, Evergy Metro and Evergy Missouri West of $116.7 million, $117.5 million and $176.6 million,\n53\nrespectively, primarily due to increased spending for a variety of capital projects including transmission and\ndistribution projects related to grid resiliency and other infrastructure improvements; partially offset by\n• an increase of $11.1 million in proceeds from COLI investments at Ev",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_company_type",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from _______to_______\nCommission File Number state of incorporation, address of principal executive offices and telephone number I.R.S. Employer\nIdentification Number\n001-38515 EVERGY, INC. 82-2733395\n(a Missouri corporation)\n1200 Main Street\nKansas City, Missouri 64105\n(816) 556-2200\n001-03523 EVERGY KANSAS CENTRAL, INC. (a Kansas corporation)\n818 South Kansas Avenue\nTopeka, Kansas 66612\n(785) 575-6300\n48-0290150\n000-51873 EVERGY METRO, INC. (a Missouri corporation)\n1200 Main Street\nKansas City, Missouri 64105\n(816) 556-2200\nSecurities registered pursuant to Section 12(b) of\nthe Act:\n44-0308720\nTitle of each class Trading Symbol(s) Name of each exchange on\nwhich registered\nEvergy, Inc. common stock EVRG New York Stock Exchange\nExact name of registrant as specified in its charter,\nSecurities registered pursuant to Section 12(g) of the Act: Evergy Kansas Central, Inc. Common Stock $0.01 par value and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_key_financials",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "28% total shareholder return, 14% adjusted EPS growth",
      "golden_context": "Page 3:\n\n2021 Statistics\n28%\nTotal Shareholder Return\n7%\nDividend Increase in\nFourth Quarter 2021\n14%\nAdjusted EPS Growth\n(year-over-year)\n$1.4B\nTransmission and Distribution\nInvestment\n4.4GW\nRenewable Generation\nAdded Since 2005\n-46%\nReduction in CO2 Emissions\nfrom 2005 Levels\n-4.2%\nReduction in Average Retail\nEnergy Rates Since 2017\n11%\nTotal Spend Sourced from\nDiverse Suppliers",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_revenue",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Operating revenue 5587m",
      "golden_context": "Page 14:\n\nThink\nIncreased\nValue\n(1)\n_x0007_ Includes long-term debt, current maturities of long-term debt, finance leases, operating leases, long-term debt of VIEs and current maturities of long-term debt of VIEs.\n30%\n2021 Stock\nPrice Movement\n20%\n10%\nn EVRG\nn UTY Index\nn S&P 500\n0%\n-10%\nYear Ended December 31 (Dollars in millions except per share amounts)\n2021 2020 2019\nEVERGY\nOperating Revenues 5,587 4,913 5,148\nNet Income 892 630 686\nNet Income Attributable To Evergy, Inc 880 618 670\nBasic Earnings Per Common Share $3.84 $2.72 $2.80\nDiluted Earnings Per Common Share $3.83 $2.72 $2.79\nTotal Assets At Year End 28,521 27,115 25,976\nTotal Long-Term Obligations At Year End(1)\n9,818 9,785 9,200\nCash Dividends Per Common Share $2.178 $2.05 $1.93\n12/31 1/29 2/26 3/31 4/30 5/28 6/30 7/30 8/31 9/30 10/29 11/30 12/31\nGAAP to Non-GAAP O&M Reconciliation\n(Dollars in millions)\n2021 GAAP O&M $1,108)\nNon-regulated energy marketing costs related to February 2021 winter weather event (8)\nExecutive transition expense (11)\nSeverance expense (3)\nAdvisor expense (12)\nCovid-19 vaccine incentive (1)\n2021 Adjusted O&M (Non-GAAP) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_revenue_growth",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenue 5587m, prior year 4913m",
      "golden_context": "Page 14:\n\nThink\nIncreased\nValue\n(1)\n_x0007_ Includes long-term debt, current maturities of long-term debt, finance leases, operating leases, long-term debt of VIEs and current maturities of long-term debt of VIEs.\n30%\n2021 Stock\nPrice Movement\n20%\n10%\nn EVRG\nn UTY Index\nn S&P 500\n0%\n-10%\nYear Ended December 31 (Dollars in millions except per share amounts)\n2021 2020 2019\nEVERGY\nOperating Revenues 5,587 4,913 5,148\nNet Income 892 630 686\nNet Income Attributable To Evergy, Inc 880 618 670\nBasic Earnings Per Common Share $3.84 $2.72 $2.80\nDiluted Earnings Per Common Share $3.83 $2.72 $2.79\nTotal Assets At Year End 28,521 27,115 25,976\nTotal Long-Term Obligations At Year End(1)\n9,818 9,785 9,200\nCash Dividends Per Common Share $2.178 $2.05 $1.93\n12/31 1/29 2/26 3/31 4/30 5/28 6/30 7/30 8/31 9/30 10/29 11/30 12/31\nGAAP to Non-GAAP O&M Reconciliation\n(Dollars in millions)\n2021 GAAP O&M $1,108)\nNon-regulated energy marketing costs related to February 2021 winter weather event (8)\nExecutive transition expense (11)\nSeverance expense (3)\nAdvisor expense (12)\nCovid-19 vaccine incentive (1)\n2021 Adjusted O&M (Non-GAAP) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000226_segments",
      "report_id": "ID_000226",
      "company_name": "Evergy",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 53:\n\netitive electric transmission projects. Evergy Transmission Company accounts for its investment in\nTransource under the equity method.\nEvergy Kansas Central also owns a 50% interest in Prairie Wind, which is a joint venture between Evergy Kansas\nCentral and subsidiaries of AEP and Berkshire Hathaway Energy Company. Prairie Wind owns a 108-mile, 345 kV\ndouble-circuit transmission line that provides transmission service in the SPP. Evergy Kansas Central accounts for\nits investment in Prairie Wind under the equity method.\nEvergy Kansas Central, Evergy Kansas South, Evergy Metro and Evergy Missouri West conduct business in their\nrespective service territories using the name Evergy. Collectively, the Evergy Companies have approximately\n15,400 MWs of owned generating capacity and renewable power purchase agreements and engage in the\ngeneration, transmission, distribution and sale of electricity to approximately 1.6 million customers in the states of\nKansas and Missouri. The Evergy Companies assess financial performance and allocate resources on a consolidated\nbasis (i.e., operate in one segment).\nStrategy\nEvergy expects to continue operating its integrated utilities within the currently existing regulatory frameworks and\nis focused on empowering a better future for its customers, communities, employees and shareholders. The core\ntenets of Evergy's strategy are as follows:\n• Affordability - working to keep rates affordable and improve regional rate competitiveness;\n• Reliability - targeting top-tier performance in reliability, customer service and generation; and\n• Sustainability - advancing ongoing CO2 emissions reductions and generation fleet transition.\nSignificant elements of Evergy's plan to achieve its strategic objectives include:\n• targeting an annual reduction of approximately $345 million of operating and maintenance expense by 2025\nfrom 2018 adjusted operating and maintenance expense (non-GAAP) (see \"Non-GAAP Measures\" within\nthis Executive Summary for a reconciliation of this non-GAAP measure to the most directly comparable\nGAAP measure);\n• targeting approximately $10.7 billion of expected base capital investments through 2026 including\napproximately $2.0 billion in renewable generation. See \"Liquidity and Capital Resources; Capital\nExpenditures\", for further information regarding Evergy's projected capital expenditures through 2026; and\n• targeting a 70% reduction of CO2 emissions by 2030 (from 2005 levels) and net-zero by 2045 through the\ncontinued growth of Evergy's renewable energy portfolio and the retirement of older and less efficient fossil\nfuel plants. See \"Transitioning Evergy's Generation Fleet\" in Part I, Item 1., Business, for additional\ninformation.\nSee \"Cautionary Statements Regarding Certain Forward-Looking Information\" and Part I, Item 1A, Risk Factors,\nfor additional information.\nRegulatory Proceedings\nIn January 2022, Evergy Metro and Evergy Missouri West filed applications with the MPSC to request increases to\ntheir retail electric revenues of $43.9 million and $27.7 million, respectively, before rebasing fuel and purchased\npower expense, with a return on equity of 10%. The requests reflect increases related to higher property taxes and\nthe recovery of infrastructure investments made to improve reliability and enhance customer service and were also\npartially offset by significant customer savings and cost reductions created since the Great Plains Energy and\nEvergy Kansas Central merger in 2018. Evergy Metro and Evergy Missouri West are also requesting the\nimplementation of tracking mechanisms for both property ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000227_key_financials",
      "report_id": "ID_000227",
      "company_name": "Evergy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "7% adjsuted EPS growth, 7% dividend increase, 2.2bn total infrastructure investment, operating revenues 5859m, net income 765m, cash dividends per common share 2.33",
      "golden_context": "Page 3:\n\n7%\nAdjusted EPS Growth\n(year-over-year)\n7%\nDividend Increase in\nFourth Quarter 2022\n52%\nReduction in OSHA\nRecordables Since 2018\n$2.2B\nTotal Infrastructure\nInvestment\nOperating Territory\nK KS S\nM MO O\nKansas Central Kansas Metro Missouri West Missouri Metro\n\n\nPage 4:\n\n4.4GW\nRenewable Generation\nAdded Since 2005\n44%\nReduction in CO2 Emissions\nfrom 2005 Levels\n2.7%\nCumulative Increase in Rates\nSince 2017*\n12%\nTotal Spend Sourced from\nDiverse Suppliers\nFinancial Highlights\nEVERGY AT A GLANCE\nYear Ended December 31 (Dollars in millions except per share amounts)\n2022 2021 2020\nEVERGY\nOperating Revenues 5,859 5,587 4,913\nNet Income 765 892 630\nNet Income Attributable To Evergy, Inc 753 880 618\nBasic Earnings Per Common Share $3.27 $3.84 $2.72\nDiluted Earnings Per Common Share $3.27 $3.83 $2.72\nTotal Assets At Year End 29,513 28,521 27,115\nTotal Liabilities 16,010 16,176 16,041\nCash Dividends Per Common Share $2.33 $2.18 $2.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000227_revenue",
      "report_id": "ID_000227",
      "company_name": "Evergy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "operating revenues 5859m",
      "golden_context": "4.4GW\nRenewable Generation\nAdded Since 2005\n44%\nReduction in CO2 Emissions\nfrom 2005 Levels\n2.7%\nCumulative Increase in Rates\nSince 2017*\n12%\nTotal Spend Sourced from\nDiverse Suppliers\nFinancial Highlights\nEVERGY AT A GLANCE\nYear Ended December 31 (Dollars in millions except per share amounts)\n2022 2021 2020\nEVERGY\nOperating Revenues 5,859 5,587 4,913\nNet Income 765 892 630\nNet Income Attributable To Evergy, Inc 753 880 618\nBasic Earnings Per Common Share $3.27 $3.84 $2.72\nDiluted Earnings Per Common Share $3.27 $3.83 $2.72\nTotal Assets At Year End 29,513 28,521 27,115\nTotal Liabilities 16,010 16,176 16,041\nCash Dividends Per Common Share $2.33 $2.18 $2.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000227_revenue_growth",
      "report_id": "ID_000227",
      "company_name": "Evergy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "operating revenues 5859m, prior year 5587m",
      "golden_context": "4.4GW\nRenewable Generation\nAdded Since 2005\n44%\nReduction in CO2 Emissions\nfrom 2005 Levels\n2.7%\nCumulative Increase in Rates\nSince 2017*\n12%\nTotal Spend Sourced from\nDiverse Suppliers\nFinancial Highlights\nEVERGY AT A GLANCE\nYear Ended December 31 (Dollars in millions except per share amounts)\n2022 2021 2020\nEVERGY\nOperating Revenues 5,859 5,587 4,913\nNet Income 765 892 630\nNet Income Attributable To Evergy, Inc 753 880 618\nBasic Earnings Per Common Share $3.27 $3.84 $2.72\nDiluted Earnings Per Common Share $3.27 $3.83 $2.72\nTotal Assets At Year End 29,513 28,521 27,115\nTotal Liabilities 16,010 16,176 16,041\nCash Dividends Per Common Share $2.33 $2.18 $2.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_cash_flow",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1410750k, investing: -4112758k, financing: 2941657k, total cash flow 216723k",
      "golden_context": "Page 57:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended\nJanuary 2,\n2022\nJanuary 3,\n2021\n(In thousands)\nDecember 29,\n2019\nOperating activities:\nNet income $ 943,157 $ 727,887 $ 227,558\nLoss from discontinued operations and dispositions 126 211 195\nIncome from continuing operations 943,283 728,098 227,753\nAdjustments to reconcile income from continuing operations to net cash\nprovided by continuing operations:\nRestructuring and other costs, net 16,432 8,013 29,428\nDepreciation and amortization 358,004 246,507 214,025\nStock-based compensation 32,780 29,126 31,514\nPension and other post-retirement expense (30,891) 18,012 26,107\nChange in fair value of contingent consideration 3,119 (8,827) 3,881\nDeferred taxes (49,342) (29,121) (61,353)\nContingencies and non-cash tax matters 1,924 4,518 (424)\nAmortization of deferred debt issuance costs and accretion of discounts 4,962 3,391 3,846\n(Gain) loss on disposition of businesses and assets, net (1,970) 886 2,469\nAmortization of acquired inventory revaluation 35,201 2,793 21,590\nAsset impairment 3,868 7,937 —\nChange in fair value of financial securities (10,985) (35) (3,249)\nDebt extinguishment costs — — 32,541\nChanges in assets and liabilities which provided (used) cash, excluding effects\nfrom companies acquired:\nAccounts receivable, net 155,391 (373,895) (100,630)\nInventories 2,376 (122,513) (9,607)\nAccounts payable 823 62,753 7,351\nAccrued expenses and other (54,225) 314,534 (61,773)\nNet cash provided by operating activities of continuing operations 1,410,750 892,177 363,469\nInvesting activities:\nCapital expenditures (99,888) (77,506) (76,331)\nPurchases of investments (23,130) (20,059) (6,387)\nPurchases of licenses — — (5,000)\nProceeds from disposition of businesses and assets 1,460 4,280 550\nProceeds from surrender of life insurance policies 109 282 —\nCash paid for acquisitions, net of cash, cash equivalents and restricted cash\nacquired (3,991,309) (411,495) (400,405)\nNet cash used in investing activities of continuing operations (4,112,758) (504,498) (487,573)\nFinancing activities:\nPayments on borrowings (1,559,133) (897,674) (1,692,489)\nProceeds from borrowings 1,400,282 714,698 1,599,416\nProceeds from term loan 500,000 — —\nPayments of senior unsecured notes (339,605) — (530,276)\nProceeds from sale of senior unsecured notes 3,086,095 — 847,195\nPayments of debt financing and equity issuance costs (30,983) — (9,879)\n48\nJanuary 2,\n2022\nJanuary 3,\n2021\n(In thousands)\nDecember 29,\n2019\nNet payments on other credit facilities (13,670) (4,494) (14,975)\nSettlement of cash flow hedges (4,482) (4,554) (1,280)\nSettlement of swaps (14,314) — —\nPayments for acquisition-related contingent consideration (2,208) (10,363) (29,942)\nProceeds from issuance of common stock under stock plans 25,120 37,671 19,732\nPurchases of common stock (73,072) (6,944) (6,313)\nDividends paid (32,373) (31,212) (31,059)\nNet cash provided by (used in) financing activities of continuing operations 2,941,657 (202,872) 150,130\nEffect of exchange rate changes on cash, cash equivalents and restricted cash (22,926) 25,913 (447)\nNet increase in cash, cash equivalents and restricted cash 216,723 210,720 25,579\nCash, cash equivalents and restricted cash at beginning of year 402,614 191,894 166,315\nCash, cash equivalents and restricted cash at end of year $ 619,337 $ 402,614 $ 191,894\nSupplemental disclosures of cash flow information\nReconciliation of cash, cash equivalents and restricted cash reported within the\nconsolidated balance sheets that sum to the total shown in the consolidated\nstatements of cash flows:\nCash and cash equivalents $ 618,319 $ 402,036 $ 191,877\nRestricted cash included in other current assets 1,018 578 17\nTotal cash, cash equivalents and restricted cash shown in the consolidated\nstatements of cash flows $ 619,337 $ 402,614 $ 191,894\nCash paid during the year for:\nInterest $ 54,120 $ 42,142 $ 82,693\nIncome taxes $ 364,565 $ 162,454 $ 77,059\nSupplemental disclosures of non-cash investing and financing activities:\nEquity issued for business combination, net of issuance costs $ 2,638,144 $ — $ —\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_company_type",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 9:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\n_____________________________________\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended January 2, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from\nto\n_____\n________\nCommission file number 001-5075\n_____________________________________\nPerkinElmer, Inc.\n(Exact name of registrant as specified in its charter)\nMassachusetts 04-2052042\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n940 Winter Street, Waltham, Massachusetts (Address of Principal Executive Offices) 02451\n(Zip Code)\n(781) 663-6900\n(Registrant’ s telephone number, including area code)\n____________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol (s) Name of Each Exchange on Which Registered\nCommon Stock, $1 Par Value PKI The New York Stock Exchange\n1.875% Notes due 2026 PKI 21A The New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit and post such files). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_key_financials",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "revenue increase of 1284.4m (34%), revenue: 5.1bn",
      "golden_context": "Page 37:\n\nanagement’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53 week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended January 2, 2022 (\"fiscal year 2021\") and\nDecember 29, 2019 (\"fiscal year 2019\") included 52 weeks. The fiscal year ended January 3, 2021 (\"fiscal year 2020\") included\n53 weeks. The fiscal year ending January 1, 2023 (\"fiscal year 2022\") will include 52 weeks.\nOverview of Fiscal Year 2021\nDuring fiscal year 2021, we continued to see strong returns from our acquisitions as well as our organic investments\nacross technology, marketing and people. Our overall revenue in fiscal year 2021 increased $1,284.4 million, or 34%, as\ncompared to fiscal year 2020, reflecting an increase of $865.0 million, or 42%, in our Diagnostics segment revenue and an\nincrease of $419.4 million, or 24%, in our Discovery & Analytical Solutions segment revenue. Revenue from our 2021\nacquisitions contributed $219.7 million to the increase in our overall revenue during fiscal year 2021. The increase in our\nDiagnostics segment revenue during fiscal year 2021 was primarily driven by increased demand for our COVID-19 product\nofferings resulting in an increase of $749.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also\nincreased during fiscal year 2021 due to growth in our core product offerings resulting in an increase of $61.9 million in our\nreproductive health revenue and an increase of $54.2 million in our applied genomics revenue. Revenue from our 2021\nacquisitions contributed $95.5 million to the increase in our Diagnostics segment revenue during fiscal year 2021. The increase\nin our Discovery & Analytical Solutions segment revenue during fiscal year 2021 was driven by an increase of $305.1 million\nin our life sciences market revenue and an increase of $114.3 million in our applied markets revenue. Revenue from our 2021\nacquisitions contributed $124.3 million to the increase in our Discovery & Analytical Solutions segment revenue during fiscal\nyear 2021.\nIn our Diagnostics segment, we experienced tremendous demand for our immunodiagnostics COVID-19 product\nofferings, particularly in the Americas, partially offset by a decline in demand for these product offerings in the Asia-Pacific\nregion. We also experienced strong growth in our immunodiagnostics and applied genomics core product and service offerings\nacross all regions. In our reproductive health business, an expanded range of product offerings and increased geographic reach\nmore than offset the impact of declining birthrates.\nIn our Discovery & Analytical Solutions segment, the increase in our life sciences market revenue was the result of an\nincrease in revenue in our pharmaceutical and biotechnology markets, as well as an increase in revenue from our Informatics\nbusiness. The increase in our applied markets revenue was driven by increased demand from our industrial, environmental and\nfood markets.\nOur consolidated gross margins increased 49 basis points in fiscal year 2021, as compared to fiscal year 2020, primarily\ndue to higher sales volume, a favorable shift in product mix and continued productivity initiatives to improve our supply chain,\npartially offset by increased amortization expense. Our consolidated operating margin increased 42 basis points in fiscal year\n2021, as compared to fiscal year 2020, primarily due to higher sales volume leverage and increased sales of our COVID-19\nproducts offerings, which were partially offset by increased amortization of intangible assets, investments in new product\ndevelopment and growth initiatives.\nOverall, we believe that ou\n\nPage 38:\n\nConsolidated Results of Operations\nFiscal Year 2021 Compared to Fiscal Year 2020\nRevenue\nRevenue for fiscal year 2021 was $5.1 billion, as compared to $3.8 billion for fiscal year 2020, an increase of $1.3\nbillion, or 34%, which includes an approximate 8% increase in revenue attributable to acquisitions and divestitures, and a 1%\nincrease in revenue attributable to favorable changes in foreign exchange rates. Revenue from our 2021 acquisitions contributed\n$219.7 million to the increase in our overall revenue during fiscal year 2021. The analysis in the remainder of this paragraph\ncompares segment revenue for fiscal year 2021 as compared to fiscal year 2020 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The total increase in revenue reflects an increase in our Diagnostics segment\nrevenue of $865.0 million, or 42%, due to increased demand for our COVID-19 product offerings resulting in an increase of\n$749.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also increased during fiscal year 2021 due\nto growth in our core product offerings resulting in an increase of $61.9 million in our reproductive health revenue and an\nincrease of $54.2 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $419.4 million, or 24%, due to an increase of $305.1 million from our life sciences market revenue and an increase of\n$114.3 million from our applied markets revenue. As a result of adjustments to deferred revenue related to certain acquisitions\nrequired by business combination rules, we did not recognize $0.8 million of revenue primarily related to our Diagnostics\nsegment for each of fiscal years 2021 and 2020 and $1.8 million and $0.3 million of revenue primarily related to our Discovery\n& Analytical Solutions segment in fiscal years 2021 and 2020 that otherwise would have been recorded by the acquired\nbusinesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2021 was $2.2 billion, as compared to $1.7 billion for fiscal year 2020, an increase of\napproximately $543.0 million, or 32%. As a percentage of revenue, cost of revenue decreased to 43.7% in fiscal year 2021 from\n44.2% in fiscal year 2020, resulting in an increase in gross margin of approximately 49 basis points to 56.3% in fiscal year 2021\nfrom 55.8% in fiscal year 2020. Amortization of intangible assets increased and was $115.1 million for fiscal year 2021, as\ncompared to $65.3 million for fiscal year 2020. Amortization of intangible assets from our 2021 acquisitions amounted to $34.0\nmillion. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions added an\nincremental expense of $35.2 million for fiscal year 2021, as compared to $2.8 million for fiscal year 2020. Other purchase\naccounting adjustments added an incremental expense of $1.8 million for fiscal year 2021, of which $1.6 million was\nacquisition-related stock compensation and $0.2 million was increased depreciation on property, plant and equipment. Asset\nimpairment was $7.9 million for fiscal year 2020. In addition to the factors noted above, the overall increase in gross margin\nwas primarily the result of higher sales volume, a favorable shift in product mix and continued productivity initiatives to\nimprove our supply chain, partially offset by increased amortization expense.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2021 were $1,227.5 million, as compared to $917.9 million\nfor fiscal year 2020, an increase of approximately $309.6 million, or 33.7%. As a percentage of revenue, selling, general and\nadministrative expenses decreased to 24.2% in fiscal year 2021 from 24.3% in fiscal year 2020. Amortization of intangible\nassets increased to $175.1 million for fiscal year 2021, as compared to $127.3 million for fiscal year 2020. Amortization of\nintangible assets from our 2021 acquisitions amounted to $37.2 million. Acquisition and divestiture-related expenses added an\nincremental expense of $83.4 million for fiscal year 2021, of which $3.9 million was acquisition-related stock compensation, as\ncompared to acquisition and divestiture-related expenses increasing expenses by $8.7 million for fiscal year 2020. Purchase\naccounting adjustments added an incremental expense of $3.2 million for fiscal year 2021, of which $3.1 million was change in\ncontingent consideration and $0.1 million was increased depreciation on property, plant and equipment, as compared to\npurchase accounting adjustments decreasing expenses by $8.8 million for fiscal year 2020, which was attributable to change in\ncontingent consideration. Asset impairment costs added an incremental expense of $3.9 million for fiscal year 2021. Legal costs\nfor significant litigation matters and settlements were $0.1 million for fiscal year 2021, as compared to $7.1 million for fiscal\nyear 2020. Costs for significant environmental matters were $5.2 million for fiscal year 2020. In addition to the above items,\nthe increase in selling, general and administrative expenses was primarily the result of costs related to investments in people,\ndigital capabilities and innovation, and recent acquisitions amplified by pandemic-related cost controls and disruptions in the\nprior year.\n29\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2021 were $275.0 million, as compared to $205.4 million for fiscal\nyear 2020, an increase of $69.6 million, or 33.9%. Research and development expenses from our 2021 acquisitions were $25.4\nmillion. As a percentage of revenue, research and development expenses were flat at 5.4% in each of fiscal years 2021 and\n2020. Stock compensation related to our acquisitions added an incremental expense of $1.4 million in fiscal year 2021.\nPurchase accounting adjustments for depreciation on property, plant and equipment added an incremental expense of $0.1\nmillion in fiscal year 2021. The increase in research and developm",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_revenue",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "5.1bn",
      "golden_context": "Page 38:\n\nConsolidated Results of Operations\nFiscal Year 2021 Compared to Fiscal Year 2020\nRevenue\nRevenue for fiscal year 2021 was $5.1 billion, as compared to $3.8 billion for fiscal year 2020, an increase of $1.3\nbillion, or 34%, which includes an approximate 8% increase in revenue attributable to acquisitions and divestitures, and a 1%\nincrease in revenue attributable to favorable changes in foreign exchange rates. Revenue from our 2021 acquisitions contributed\n$219.7 million to the increase in our overall revenue during fiscal year 2021. The analysis in the remainder of this paragraph\ncompares segment revenue for fiscal year 2021 as compared to fiscal year 2020 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The total increase in revenue reflects an increase in our Diagnostics segment\nrevenue of $865.0 million, or 42%, due to increased demand for our COVID-19 product offerings resulting in an increase of\n$749.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also increased during fiscal year 2021 due\nto growth in our core product offerings resulting in an increase of $61.9 million in our reproductive health revenue and an\nincrease of $54.2 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $419.4 million, or 24%, due to an increase of $305.1 million from our life sciences market revenue and an increase of\n$114.3 million from our applied markets revenue. As a result of adjustments to deferred revenue related to certain acquisitions\nrequired by business combination rules, we did not recognize $0.8 million of revenue primarily related to our Diagnostics\nsegment for each of fiscal years 2021 and 2020 and $1.8 million and $0.3 million of revenue primarily related to our Discovery\n& Analytical Solutions segment in fiscal years 2021 and 2020 that otherwise would have been recorded by the acquired\nbusinesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2021 was $2.2 billion, as compared to $1.7 billion for fiscal year 2020, an increase of\napproximately $543.0 million, or 32%. As a percentage of revenue, cost of revenue decreased to 43.7% in fiscal year 2021 from\n44.2% in fiscal year 2020, resulting in an increase in gross margin of approximately 49 basis points to 56.3% in fiscal year 2021\nfrom 55.8% in fiscal year 2020. Amortization of intangible assets increased and was $115.1 million for fiscal year 2021, as\ncompared to $65.3 million for fiscal year 2020. Amortization of intangible assets from our 2021 acquisitions amounted to $34.0\nmillion. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions added an\nincremental expense of $35.2 million for fiscal year 2021, as compared to $2.8 million for fiscal year 2020. Other purchase\naccounting adjustments added an incremental expense of $1.8 million for fiscal year 2021, of which $1.6 million was\nacquisition-related stock compensation and $0.2 million was increased depreciation on property, plant and equipment. Asset\nimpairment was $7.9 million for fiscal year 2020. In addition to the factors noted above, the overall increase in gross margin\nwas primarily the result of higher sales volume, a favorable shift in product mix and continued productivity initiatives to\nimprove our supply chain, partially offset by increased amortization expense.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2021 were $1,227.5 million, as compared to $917.9 million\nfor fiscal year 2020, an increase of approximately $309.6 million, or 33.7%. As a percentage of revenue, selling, general and\nadministrative expenses decreased to 24.2% in fiscal year 2021 from 24.3% in fiscal year 2020. Amortization of intangible\nassets increased to $175.1 million for fiscal year 2021, as compared to $127.3 million for fiscal year 2020. Amortization of\nintangible assets from our 2021 acquisitions amounted to $37.2 million. Acquisition and divestiture-related expenses added an\nincremental expense of $83.4 million for fiscal year 2021, of which $3.9 million was acquisition-related stock compensation, as\ncompared to acquisition and divestiture-related expenses increasing expenses by $8.7 million for fiscal year 2020. Purchase\naccounting adjustments added an incremental expense of $3.2 million for fiscal year 2021, of which $3.1 million was change in\ncontingent consideration and $0.1 million was increased depreciation on property, plant and equipment, as compared to\npurchase accounting adjustments decreasing expenses by $8.8 million for fiscal year 2020, which was attributable to change in\ncontingent consideration. Asset impairment costs added an incremental expense of $3.9 million for fiscal year 2021. Legal costs\nfor significant litigation matters and settlements were $0.1 million for fiscal year 2021, as compared to $7.1 million for fiscal\nyear 2020. Costs for significant environmental matters were $5.2 million for fiscal year 2020. In addition to the above items,\nthe increase in selling, general and administrative expenses was primarily the result of costs related to investments in people,\ndigital capabilities and innovation, and recent acquisitions amplified by pandemic-related cost controls and disruptions in the\nprior year.\n29\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2021 were $275.0 million, as compared to $205.4 million for fiscal\nyear 2020, an increase of $69.6 million, or 33.9%. Research and development expenses from our 2021 acquisitions were $25.4\nmillion. As a percentage of revenue, research and development expenses were flat at 5.4% in each of fiscal years 2021 and\n2020. Stock compensation related to our acquisitions added an incremental expense of $1.4 million in fiscal year 2021.\nPurchase accounting adjustments for depreciation on property, plant and equipment added an incremental expense of $0.1\nmillion in fiscal year 2021. The increase in research and developm",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_revenue_growth",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "34% increase (or 1.3bn)",
      "golden_context": "Page 38:\n\nConsolidated Results of Operations\nFiscal Year 2021 Compared to Fiscal Year 2020\nRevenue\nRevenue for fiscal year 2021 was $5.1 billion, as compared to $3.8 billion for fiscal year 2020, an increase of $1.3\nbillion, or 34%, which includes an approximate 8% increase in revenue attributable to acquisitions and divestitures, and a 1%\nincrease in revenue attributable to favorable changes in foreign exchange rates. Revenue from our 2021 acquisitions contributed\n$219.7 million to the increase in our overall revenue during fiscal year 2021. The analysis in the remainder of this paragraph\ncompares segment revenue for fiscal year 2021 as compared to fiscal year 2020 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The total increase in revenue reflects an increase in our Diagnostics segment\nrevenue of $865.0 million, or 42%, due to increased demand for our COVID-19 product offerings resulting in an increase of\n$749.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also increased during fiscal year 2021 due\nto growth in our core product offerings resulting in an increase of $61.9 million in our reproductive health revenue and an\nincrease of $54.2 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $419.4 million, or 24%, due to an increase of $305.1 million from our life sciences market revenue and an increase of\n$114.3 million from our applied markets revenue. As a result of adjustments to deferred revenue related to certain acquisitions\nrequired by business combination rules, we did not recognize $0.8 million of revenue primarily related to our Diagnostics\nsegment for each of fiscal years 2021 and 2020 and $1.8 million and $0.3 million of revenue primarily related to our Discovery\n& Analytical Solutions segment in fiscal years 2021 and 2020 that otherwise would have been recorded by the acquired\nbusinesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2021 was $2.2 billion, as compared to $1.7 billion for fiscal year 2020, an increase of\napproximately $543.0 million, or 32%. As a percentage of revenue, cost of revenue decreased to 43.7% in fiscal year 2021 from\n44.2% in fiscal year 2020, resulting in an increase in gross margin of approximately 49 basis points to 56.3% in fiscal year 2021\nfrom 55.8% in fiscal year 2020. Amortization of intangible assets increased and was $115.1 million for fiscal year 2021, as\ncompared to $65.3 million for fiscal year 2020. Amortization of intangible assets from our 2021 acquisitions amounted to $34.0\nmillion. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions added an\nincremental expense of $35.2 million for fiscal year 2021, as compared to $2.8 million for fiscal year 2020. Other purchase\naccounting adjustments added an incremental expense of $1.8 million for fiscal year 2021, of which $1.6 million was\nacquisition-related stock compensation and $0.2 million was increased depreciation on property, plant and equipment. Asset\nimpairment was $7.9 million for fiscal year 2020. In addition to the factors noted above, the overall increase in gross margin\nwas primarily the result of higher sales volume, a favorable shift in product mix and continued productivity initiatives to\nimprove our supply chain, partially offset by increased amortization expense.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2021 were $1,227.5 million, as compared to $917.9 million\nfor fiscal year 2020, an increase of approximately $309.6 million, or 33.7%. As a percentage of revenue, selling, general and\nadministrative expenses decreased to 24.2% in fiscal year 2021 from 24.3% in fiscal year 2020. Amortization of intangible\nassets increased to $175.1 million for fiscal year 2021, as compared to $127.3 million for fiscal year 2020. Amortization of\nintangible assets from our 2021 acquisitions amounted to $37.2 million. Acquisition and divestiture-related expenses added an\nincremental expense of $83.4 million for fiscal year 2021, of which $3.9 million was acquisition-related stock compensation, as\ncompared to acquisition and divestiture-related expenses increasing expenses by $8.7 million for fiscal year 2020. Purchase\naccounting adjustments added an incremental expense of $3.2 million for fiscal year 2021, of which $3.1 million was change in\ncontingent consideration and $0.1 million was increased depreciation on property, plant and equipment, as compared to\npurchase accounting adjustments decreasing expenses by $8.8 million for fiscal year 2020, which was attributable to change in\ncontingent consideration. Asset impairment costs added an incremental expense of $3.9 million for fiscal year 2021. Legal costs\nfor significant litigation matters and settlements were $0.1 million for fiscal year 2021, as compared to $7.1 million for fiscal\nyear 2020. Costs for significant environmental matters were $5.2 million for fiscal year 2020. In addition to the above items,\nthe increase in selling, general and administrative expenses was primarily the result of costs related to investments in people,\ndigital capabilities and innovation, and recent acquisitions amplified by pandemic-related cost controls and disruptions in the\nprior year.\n29\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2021 were $275.0 million, as compared to $205.4 million for fiscal\nyear 2020, an increase of $69.6 million, or 33.9%. Research and development expenses from our 2021 acquisitions were $25.4\nmillion. As a percentage of revenue, research and development expenses were flat at 5.4% in each of fiscal years 2021 and\n2020. Stock compensation related to our acquisitions added an incremental expense of $1.4 million in fiscal year 2021.\nPurchase accounting adjustments for depreciation on property, plant and equipment added an incremental expense of $0.1\nmillion in fiscal year 2021. The increase in research and developm",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000229_segments",
      "report_id": "ID_000229",
      "company_name": "Revvity",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Discovery & Analytical Solutions and Diagnostics",
      "golden_context": "Page 13:\n\nAct. BioLegend is recognized as a leading, global provider of life science antibodies and reagents headquartered in\nSan Diego, California, with approximately 700 employees.\nIn fiscal year 2021, we also completed the acquisition of seven other businesses for aggregate consideration of $1.2\nbillion. The acquired businesses include Oxford Immunotec Global PLC (\"Oxford\"), a company based in Abingdon, UK with\napproximately 275 employees, for total consideration of $590.9 million, Nexcelom Bioscience Holdings, LLC (\"Nexcelom\"), a\ncompany based in Lawrence, Massachusetts with approximately 130 employees, for total consideration of $267.3 million, and\nfive other businesses, which were acquired for total consideration of $331.0 million.\n3\nBusiness Segments and Products\nWe report our business in two segments: Discovery & Analytical Solutions and Diagnostics.\nDiscovery & Analytical Solutions Segment\nOur comprehensive portfolio of technologies helps life sciences researchers better understand diseases and develop\ntreatments. In addition, we enable scientists to detect, monitor and manage contaminants and toxic chemicals that impact our\nenvironment and food supply. Our Discovery & Analytical Solutions segment serves the life sciences and applied markets.\nLife Sciences:\nLife Sciences consists of the life sciences research market and laboratory services market. In the life sciences research\nmarket, we provide a broad suite of solutions including reagents, informatics, contract research services, and detection and\nimaging technologies that enable scientists to work smarter, make research breakthroughs and transform those breakthroughs to\nreal-world outcomes. These products, solutions and services support pharmaceutical, biotech, and contract research\norganizations, as well as academic institutions globally in discovering and developing better treatments and therapeutics to fight\ndisease, faster and more efficiently. BioLegend’s acquisition provides us with access to new markets as well, notably the flow\ncytometry and multiomic cell analysis markets.\nWe also provide services designed to help customers in the laboratory services market increase efficiencies and\nproduction time while reducing laboratory maintenance costs. Our OneSource® laboratory service business is aligned with\ncustomers' needs, enabling them to accelerate scientific progress and commercial opportunities.\nApplied Markets:\nThe applied markets consist of environmental, food and industrial markets. For the environmental market, we develop\nand provide analytical technologies, solutions an",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_cash_flow",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating activities: 679'820k, \ninvesting: -132'851k, \nfinancing: -661'803k, \ntotal cash flow: -148'591k",
      "golden_context": "Page 60-61:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended\nJanuary 1,\n2023\nJanuary 2,\n2022\n(In thousands)\nJanuary 3,\n2021\nOperating activities:\nNet income $ 569,179 $ 943,157 $ 727,887\nIncome from discontinued operations (56,503) (53,721) (97,327)\nIncome from continuing operations 512,676 889,436 630,560\nAdjustments to reconcile income from continuing operations to net cash\nprovided by continuing operations:\nRestructuring and other costs, net 13,580 14,358 7,661\nDepreciation and amortization 427,000 311,443 201,648\nStock-based compensation 51,518 29,675 26,904\nPension and other post-retirement (income) expense (23,104) (28,509) 14,904\nChange in fair value of contingent consideration (1,377) 3,119 (8,827)\nDeferred taxes (105,923) (55,328) (35,338)\nContingencies and non-cash tax matters (1,488) 1,924 4,518\nAmortization of deferred debt issuance costs and accretion of discounts 7,310 4,962 3,391\n(Gain) loss on disposition of businesses and assets, net (2,887) (1,970) 886\nAmortization of acquired inventory revaluation 45,289 35,201 1,831\nAsset impairment — 3,868 7,937\nChange in fair value of financial securities 15,754 (10,985) (35)\nDebt extinguishment gain (2,880) — —\nChanges in assets and liabilities which provided (used) cash, excluding effects\nfrom companies acquired:\nAccounts receivable, net 66,093 165,590 (398,853)\nInventories (48,634) 32,280 (127,357)\nAccounts payable (43,804) (7,577) 63,231\nAccrued expenses and other (236,623) (57,303) 311,659\nNet cash provided by operating activities of continuing operations 672,500 1,330,184 704,720\nNet cash provided by operating activities of discontinued operations 7,310 80,566 187,457\nNet cash provided by operating activities 679,810 1,410,750 892,177\nInvesting activities:\nCapital expenditures (85,632) (86,020) (63,634)\nPurchases of investments (47,181) (23,130) (20,059)\nProceeds from notes receivables 8,890 — —\nProceeds from disposition of businesses and assets 14,505 1,460 4,280\nProceeds from surrender of life insurance policies — 109 282\nCash paid for acquisitions, net of cash acquired (7,518) (3,982,216) (411,495)\nNet cash used in investing activities of continuing operations (116,936) (4,089,797) (490,626)\nNet cash used in investing activities of discontinued operations (15,915) (22,961) (13,872)\nNet cash used in investing activities (132,851) (4,112,758) (504,498)\nFinancing activities:\nPayments on borrowings (240,000) (1,559,133) (897,674)\nProceeds from borrowings 240,000 1,400,282 714,698\nProceeds from term loan — 500,000 —\n53\nJanuary 1,\n2023\nJanuary 2,\n2022\n(In thousands)\nJanuary 3,\n2021\nPayments of term loan (500,000) — —\nPayments of senior unsecured notes (57,876) (339,605) —\nProceeds from sale of senior unsecured notes — 3,086,095 —\nPayments of debt financing and equity issuance costs — (30,983) —\nPayments on other credit facilities (1,292) (13,670) (4,494)\nSettlement of cash flow hedges (762) (4,482) (4,554)\nSettlement of swaps — (14,314) —\nPayments for acquisition-related contingent consideration (5) (2,208) (10,363)\nProceeds from issuance of common stock under stock plans 14,114 25,120 37,671\nPurchases of common stock (80,638) (73,072) (6,944)\nDividends paid (35,344) (32,373) (31,212)\nNet cash (used in) provided by financing activities (661,803) 2,941,657 (202,872)\nEffect of exchange rate changes on cash, cash equivalents and restricted cash (33,747) (22,926) 25,913\nNet (decrease) increase in cash, cash equivalents and restricted cash (148,591) 216,723 210,720\nCash, cash equivalents and restricted cash at beginning of year 619,337 402,614 191,894\nCash, cash equivalents and restricted cash at end of year $ 470,746 $ 619,337 $ 402,614\nSupplemental disclosures of cash flow information\nReconciliation of cash, cash equivalents and restricted cash reported within the\nconsolidated balance sheets that sum to the total shown in the consolidated\nstatements of cash flows:\nCash and cash equivalents $ 454,358 $ 603,320 $ 387,054\nRestricted cash included in other current assets 1,040 1,018 578\nRestricted cash included in other assets 349 — —\nCash and cash equivalents included in current assets of discontinued\n14,999 14,999 14,982\ni\nTotal cash, cash equivalents and restricted cash shown in the consolidated\nstatements of cash flows $ 470,746 $ 619,337 $ 402,614\nCash paid during the year for:\nInterest $ 97,934 $ 54,120 $ 42,142\nIncome taxes 323,077 364,565 162,454\nSupplemental disclosures of non-cash investing and financing activities:\nEquity issued for business combination, net of issuance costs $ — $ 2,638,144 $ —\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_company_type",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\n_____________________________________\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended January 1, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-5075\n_____________________________________\nPerkinElmer, Inc.\n(Exact name of registrant as specified in its charter)\nMassachusetts 04-2052042\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n940 Winter Street, Waltham, Massachusetts (Address of Principal Executive Offices) 02451\n(Zip Code)\n(781) 663-6900\n(Registrant’s telephone number, including area code)\n____________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol (s) Name of Each Exchange on Which Registered\nCommon Stock, $1 Par Value PKI The New York Stock Exchange\n1.875% Notes due 2026 PKI 21A The New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit and post such files). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark whether the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_key_financials",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenue 3'311'822k, \n\noperating income from continuing operatins 742'699k, \n\nincome from continuing operatins 512'676k, \n\nnet income 569'179k, \n\nnet income per share 4.51",
      "golden_context": "Page 56:\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\nJanuary 1,\nJanuary 2,\nJanuary 3,\n2023\n2022\n2021\n(In thousands, except per share data)\nRevenue\nProduct revenue $ 2,634,582 $ 2,735,068 $ 2,280,853\nService revenue 677,240 1,092,740 382,377\nTotal revenue 3,311,822 3,827,808 2,663,230\nCost of product revenue 1,150,402 1,129,223 794,405\nCost of service revenue 171,590 264,598 138,646\nSelling, general and administrative expenses 1,025,514 975,193 716,465\nResearch and development expenses 221,617 200,337 146,441\nOperating income from continuing operations 742,699 1,258,457 867,273\nInterest and other expense, net 90,862 54,875 67,201\nIncome from continuing operations before income taxes 651,837 1,203,582 800,072\nProvision for income taxes 139,161 314,146 169,512\nIncome from continuing operations 512,676 889,436 630,560\nIncome from discontinued operations before income taxes 73,604 76,304 106,292\nLoss on disposition of discontinued operations before income taxes — — (76)\nProvision for income taxes on discontinued operations 17,101 22,583 8,889\nIncome from discontinued operations 56,503 53,721 97,327\nNet income $ 569,179 $ 943,157 $ 727,887\nBasic earnings per share:\nIncome from continuing operations $ 4.06 $ 7.66 $ 5.65\nIncome from discontinued operations 0.45 0.46 0.87\nNet income $ 4.51 $ 8.12 $ 6.52\nDiluted earnings per share:\nIncome from continuing operations $ 4.06 $ 7.62 $ 5.63\nIncome from discontinued operations 0.45 0.46 0.87\nNet income $ 4.50 $ 8.08 $ 6.49\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_revenue",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "3.3bn revenue",
      "golden_context": "Page 41:\n\niscal Year 2021 Compared to Fiscal Year 2020\nRevenue\nRevenue for fiscal year 2021 was $3.8 billion, as compared to $2.7 billion for fiscal year 2020, an increase of $1.2\nbillion, or 44%, which includes an approximate 11% increase in revenue attributable to acquisitions, and a 1% increase in\nrevenue attributable to favorable changes in foreign exchange rates. The analysis in the remainder of this paragraph compares\nsegment revenue for fiscal year 2021 as compared to fiscal year 2020 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The total increase in revenue reflects an increase in our Diagnostics segment\nrevenue of $865.0 million, or 42%, due to increased demand for our COVID-19 product offerings resulting in an increase of\n$748.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also increased during fiscal year 2021 due\nto growth in our core product offerings resulting in an increase of $58.0 million in our reproductive health revenue and an\nincrease of $59.0 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $301.1 million, or 50%, due to an increase in revenue in our life sciences market, particularly in the pharmaceutical and\nbiotechnology markets. As a result of adjustments to deferred revenue related to certain acquisitions required by business\ncombination rules, we did not recognize $2.6 million and $1.1 million of revenue for fiscal years 2021 and 2020, respectively,\nthat otherwise would have been recorded by the acquired businesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2021 was $1.4 billion, as compared to $933.1 million for fiscal year 2020, an increase of\napproximately $460.8 million, or 49%. As a percentage of revenue, cost of revenue increased to 36% in fiscal year 2021 from\n35% in fiscal year 2020, resulting in a decrease in gross margin of approximately 138 basis points to 64% in fiscal year 2021\nfrom 65% in fiscal year 2020. Amortization of intangible assets increased and was $100.7 million for fiscal year 2021, as\ncompared to $51.4 million for fiscal year 2020. Amortization of intangible assets from our 2021 acquisitions amounted to $34.0\nmillion for fiscal year 2021. The amortization of purchase accounting adjustments to record the inventory from certain\nacquisitions added an incremental expense of $35.2 million for fiscal year 2021, as compared to $1.8 million for fiscal year\n2020. Other purchase accounting adjustments added an incremental expense of $1.8 million in fiscal year 2021, of which $1.6\nmillion was acquisition-related stock compensation and $0.2 million was increased depreciation on property, plant and\nequipment. Asset impairment was $7.9 million for fiscal year 2020. The overall decrease in gross margin was partially offset by\na favorable shift in product mix and service productivity.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2021 were $975.2 million, as compared to $716.5 million for\nfiscal year 2020, an increase of approximately $258.7 million, or 36%. As a percentage of revenue, selling, general and\nadministrative expenses decreased to 25% in fiscal year 2021 from 27% in fiscal year 2020. Amortization of intangible assets\nincreased to $155.9 million for fiscal year 2021, as compared to $109.6 million for fiscal year 2020. Amortization of intangible\nassets from our 2021 acquisitions amounted to $37.2 million for fiscal year 2021. Acquisition and divestiture-related expenses\nadded an incremental expense of $59.7 million for fiscal year 2021, of which $3.9 million was acquisition-related stock\ncompensation, as compared to acquisition and divestiture-related expenses increasing expenses by $4.3 million for fiscal year\n2020. Purchase accounting adjustments added an incremental expense of $2.9 million for fiscal year 2021, of which $2.8\nmillion was change in contingent consideration and $0.1 million was increased depreciation on property, plant and equipment,\nas compared to purchase accounting adjustments increasing expenses by $3.5 million for fiscal year 2020, which was\nattributable to change in contingent consideration. Asset impairment costs added an incremental expense of $3.9 million for\nfiscal year 2021. Legal costs for significant litigation matters and settlements were $5.9 million for fiscal year 2020. Costs for\nsignificant environmental matters were $5.2 million for fiscal year 2020. In addition to the above items, the increase in selling,\ngeneral and administrative expenses was primarily the result of costs related to investments in people, digital capabilities and\ninnovation, and recent acquisitions amplified by pandemic-related cost controls and disruptions in the prior year.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2021 were $200.3 million, as compared to $146.4 million for fiscal\nyear 2020, an increase of $53.9 million, or 36.8%. Research and development expenses from our 2021 acquisitions were $24.0\nmillion. As a percentage of revenue, research and development expenses decreased and were 5.2% for fiscal year 2021, as\ncompared to 5.5% for fiscal year 2020. Stock compensation related to our acquisitions added an incremental expense of $1.4\nmillion in fiscal year 2021. Purchase accounting adjustments for depreciation on property, plant and equipment added an\nincremental expense of $0.1 million in fiscal year 2021. The increase in research and development expenses was driven by our\ninvestments in new product development.\n\nPage 31:\n\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53 week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended January 1, 2023 (“fiscal year 2022”) and\nJanuary 2, 2022 (“fiscal year 2021”) included 52 weeks. The fiscal year ended January 3, 2021 (“fiscal year 2020”) included 53\nweeks. The fiscal year ending December 31, 2023 (“fiscal year 2023”) will include 52 weeks.\nOverview of Fiscal Year 2022\nDuring fiscal year 2022, we continued to see strong returns from our acquisitions as well as our organic investments\nacross technology, marketing and people. Our overall revenue in fiscal year 2022 decreased by $516.0 million, or 13%, as\ncompared to fiscal year 2021, reflecting a decrease of $913.0 million, or 31%, in our Diagnostics segment revenue, partially\noffset by an increase of $395.2 million, or 44%, in our Discovery & Analytical Solutions segment revenue. Revenue from our\n2021 acquisitions contributed $366.9 million to our overall revenue during fiscal year 2022. The decrease in our Diagnostics\nsegment revenue during fiscal year 2022 was primarily driven by decreased demand for our COVID-19 product offerings,\npartially offset by an increase in our core product offerings resulting in a decrease of $689.0 million in our immunodiagnostics\nrevenue and a decrease of $225.8 million in our applied genomics revenue. Revenue from our 2021 acquisitions contributed\n$58.1 million to our Diagnostics segment revenue during fiscal year 2022. The increase in our Discovery & Analytical\nSolutions segment revenue during fiscal year 2022 was driven by an increase of $395.2 million in our life sciences market\nrevenue. Revenue from our 2021 acquisitions contributed $308.7 million to the increase in our Discovery & Analytical\nSolutions segment revenue during fiscal year 2022.\nIn our Diagnostics segment, we experienced a global decline in demand for our COVID-19 product offerings due to the\ncancellation of our service contracts for the State of California and the United Kingdom, and lower COVID-19 testing volumes\ncompared to fiscal year 2021. We saw strong growth in our core immunodiagnostics business in the Americas and Europe,\npartially offset by the impact of extensive shutdowns in China. In our reproductive health business, an expanded range of\nproduct offerings and increased geographic reach more than offset the impact of declining birthrates.\nIn our Discovery & Analytical Solutions segment, the increase in our life sciences market revenue was the result of an\nincrease in revenue in our pharmaceutical and biotechnology markets across all regions. Instruments, reagents and software\nexperienced strong growth and we saw a positive impact from pricing actions we took in early 2022.\nOur consolidated gross margins decreased 350 basis points in fiscal year 2022, as compared to fiscal year 2021, primarily\ndue to increased amortization of acquired intangible assets and lower revenue from our COVID-19 product offerings, partially\noffset by a favorable shift in product mix and service productivity. Our consolidated operating margin decreased 1,045 basis\npoints in fiscal year 2022, as compared to fiscal year 2021, primarily due to lower revenue from our COVID-19 product\nofferings, increased costs related to amortization of acquired intangible assets, and investments in new product development\nand growth initiatives. During fiscal year 2022, supply chain disruptions and inflation did not materially impact our results of\noperations as compared to fiscal year 2021 as the effects of our initiatives to reduce transportation costs more than offset the\nimpact of inflation on our raw materials purchases. During fiscal year 2022, supply chain disruptions and inflation increased\nour cost of goods sold by less than $10.0 million as compared to fiscal year 2021.\nOverall, we believe that our strategic priorities and recent portfolio transformations, coupled with our expanded range of\nproduct offerings, leading market positions, global scale and financial strength provides us with a foundation for continued\nrevenue growth, strong margins and cash flows, and long-term earnings per share growth.\n\n\nPage 32:\n\nConsolidated Results of Operations\nFiscal Year 2022 Compared to Fiscal Year 2021\nRevenue\nRevenue for fiscal year 2022 was $3.3 billion, as compared to $3.8 billion for fiscal year 2021, a decrease of $0.5 billion,\nor 13%, which includes an approximate 4% decrease in revenue attributable to unfavorable changes in foreign exchange rates,\npartially offset by an approximate 9% increase in revenue attributable to acquisitions. Revenue from our 2021 acquisitions\ncontributed $366.9 million to our overall revenue during fiscal year 2022. The analysis in the remainder of this paragraph\ncompares segment revenue for fiscal year 2022 as compared to fiscal year 2021 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The decrease in total revenue reflects a decrease in our Diagnostics segment\nrevenue of $913.0 million, or 31%, due to decreased demand for our COVID-19 product offerings, partially offset by an\nincrease in our core product offerings resulting in a decrease of $689.0 million in our immunodiagnostics revenue and a\ndecrease of $225.8 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $395.2 million, or 44%, due to increase in revenue in our life sciences market, particularly in the pharmaceutical and\nbiotechnology markets. As a result of adjustments to deferred revenue related to certain acquisitions required by business\ncombination rules, we did not recognize $0.8 million and $2.6 million of revenue for fiscal years 2022 and 2021, respectively,\nthat otherwise would have been recorded by the acquired businesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2022 was $1.3 billion, as compared to $1.4 billion for fiscal year 2021, a decrease of\napproximately $71.8 million, or 5%. As a percentage of revenue, cost of revenue increased to 40% in fiscal year 2022 from\n36% in fiscal year 2021, resulting in a decrease in gross margin of approximately 350 basis points to 60% in fiscal year 2022\nfrom 64% in fiscal year 2021. Amortization of intangible assets increased to $141.6 million for fiscal year 2022, as compared to\n$100.7 million for fiscal year 2021. Amortization of intangible assets from our 2021 acquisitions amounted to $88.5 million for\nfiscal year 2022. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions added\nan incremental expense of $45.3 million for fiscal year 2022, as compared to $35.2 million for fiscal year 2021. Other purchase\naccounting adjustments added an incremental expense of $6.2 million for fiscal year 2022, of which $5.6 million was\nacquisition-related stock compensation and $0.6 million was increased depreciation on property, plant and equipment. The\noverall decrease in gross margin was partially offset by a favorable shift in product mix, pricing actions and service\nproductivity.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2022 were $1,025.5 million, as compared to $975.2 million\nfor fiscal year 2021, an increase of approximately $50.3 million, or 5%. As a percentage of revenue, selling, general and\nadministrative expenses increased to 31% in fiscal year 2022 from 25% in fiscal year 2021. Amortization of intangible assets\nincreased to $229.1 million for fiscal year 2022, as compared to $155.9 million for fiscal year 2021. Amortization of intangible\nassets from our 2021 acquisitions amounted to $135.3 million for fiscal year 2022. Acquisition and divestiture-related expenses\nadded an incremental expense of $28.9 million for fiscal year 2022, of which $15.6 million was acquisition-related stock\ncompensation, as compared to acquisition and divestiture-related expenses increasing expenses by $59.7 million for fiscal year\n2021, of which $3.9 million was acquisition-related stock compensation. Purchase accounting adjustments decreased expenses\nby $1.2 million for fiscal year 2022, resulting from a $1.4 million change in contingent consideration, partially offset by $0.2\nmillion in increased depreciation on property, plant and equipment, as compared to purchase accounting adjustments increasing\nexpenses by $2.9 million for fiscal year 2021, which was attributable to change in contingent consideration. Asset impairment\ncosts added an incremental expense of $3.9 million for fiscal year 2021. Legal costs for significant litigation matters and\nsettlements, net of reversals, decreased expenses by $0.6 million for fiscal year 2022. In addition to the above items, the\nincrease in selling, general and administrative expenses was primarily the result of costs related to investments in people, digital\ncapabilities, innovation, and recent acquisitions.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2022 were $221.6 million, as compared to $200.3 million for fiscal\nyear 2021, an increase of $21.3 million, or 11%. As a percentage of revenue, research and development expenses increased to\n7% in fiscal year 2022 from 5% in fiscal year 2021. Stock compensation related to our acquisitions added an incremental\nexpense of $5.4 million in fiscal year 2022, as compared to $1.4 million for fiscal year 2021. Purchase accounting adjustments\nfor depreciation on property, plant and equipment added an incremental expense of $0.2 million in fiscal year 2022, as\ncompared to $0.1 million for fiscal year 2021. Excluding the factors above, the net increase in research and development\n32",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_revenue_growth",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Decrease of $0.5bn, 13%. ",
      "golden_context": "Page 41:\n\niscal Year 2021 Compared to Fiscal Year 2020\nRevenue\nRevenue for fiscal year 2021 was $3.8 billion, as compared to $2.7 billion for fiscal year 2020, an increase of $1.2\nbillion, or 44%, which includes an approximate 11% increase in revenue attributable to acquisitions, and a 1% increase in\nrevenue attributable to favorable changes in foreign exchange rates. The analysis in the remainder of this paragraph compares\nsegment revenue for fiscal year 2021 as compared to fiscal year 2020 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The total increase in revenue reflects an increase in our Diagnostics segment\nrevenue of $865.0 million, or 42%, due to increased demand for our COVID-19 product offerings resulting in an increase of\n$748.0 million in our immunodiagnostics revenue. Our Diagnostics segment revenue also increased during fiscal year 2021 due\nto growth in our core product offerings resulting in an increase of $58.0 million in our reproductive health revenue and an\nincrease of $59.0 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $301.1 million, or 50%, due to an increase in revenue in our life sciences market, particularly in the pharmaceutical and\nbiotechnology markets. As a result of adjustments to deferred revenue related to certain acquisitions required by business\ncombination rules, we did not recognize $2.6 million and $1.1 million of revenue for fiscal years 2021 and 2020, respectively,\nthat otherwise would have been recorded by the acquired businesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2021 was $1.4 billion, as compared to $933.1 million for fiscal year 2020, an increase of\napproximately $460.8 million, or 49%. As a percentage of revenue, cost of revenue increased to 36% in fiscal year 2021 from\n35% in fiscal year 2020, resulting in a decrease in gross margin of approximately 138 basis points to 64% in fiscal year 2021\nfrom 65% in fiscal year 2020. Amortization of intangible assets increased and was $100.7 million for fiscal year 2021, as\ncompared to $51.4 million for fiscal year 2020. Amortization of intangible assets from our 2021 acquisitions amounted to $34.0\nmillion for fiscal year 2021. The amortization of purchase accounting adjustments to record the inventory from certain\nacquisitions added an incremental expense of $35.2 million for fiscal year 2021, as compared to $1.8 million for fiscal year\n2020. Other purchase accounting adjustments added an incremental expense of $1.8 million in fiscal year 2021, of which $1.6\nmillion was acquisition-related stock compensation and $0.2 million was increased depreciation on property, plant and\nequipment. Asset impairment was $7.9 million for fiscal year 2020. The overall decrease in gross margin was partially offset by\na favorable shift in product mix and service productivity.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2021 were $975.2 million, as compared to $716.5 million for\nfiscal year 2020, an increase of approximately $258.7 million, or 36%. As a percentage of revenue, selling, general and\nadministrative expenses decreased to 25% in fiscal year 2021 from 27% in fiscal year 2020. Amortization of intangible assets\nincreased to $155.9 million for fiscal year 2021, as compared to $109.6 million for fiscal year 2020. Amortization of intangible\nassets from our 2021 acquisitions amounted to $37.2 million for fiscal year 2021. Acquisition and divestiture-related expenses\nadded an incremental expense of $59.7 million for fiscal year 2021, of which $3.9 million was acquisition-related stock\ncompensation, as compared to acquisition and divestiture-related expenses increasing expenses by $4.3 million for fiscal year\n2020. Purchase accounting adjustments added an incremental expense of $2.9 million for fiscal year 2021, of which $2.8\nmillion was change in contingent consideration and $0.1 million was increased depreciation on property, plant and equipment,\nas compared to purchase accounting adjustments increasing expenses by $3.5 million for fiscal year 2020, which was\nattributable to change in contingent consideration. Asset impairment costs added an incremental expense of $3.9 million for\nfiscal year 2021. Legal costs for significant litigation matters and settlements were $5.9 million for fiscal year 2020. Costs for\nsignificant environmental matters were $5.2 million for fiscal year 2020. In addition to the above items, the increase in selling,\ngeneral and administrative expenses was primarily the result of costs related to investments in people, digital capabilities and\ninnovation, and recent acquisitions amplified by pandemic-related cost controls and disruptions in the prior year.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2021 were $200.3 million, as compared to $146.4 million for fiscal\nyear 2020, an increase of $53.9 million, or 36.8%. Research and development expenses from our 2021 acquisitions were $24.0\nmillion. As a percentage of revenue, research and development expenses decreased and were 5.2% for fiscal year 2021, as\ncompared to 5.5% for fiscal year 2020. Stock compensation related to our acquisitions added an incremental expense of $1.4\nmillion in fiscal year 2021. Purchase accounting adjustments for depreciation on property, plant and equipment added an\nincremental expense of $0.1 million in fiscal year 2021. The increase in research and development expenses was driven by our\ninvestments in new product development.\n\nPage 31:\n\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53 week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended January 1, 2023 (“fiscal year 2022”) and\nJanuary 2, 2022 (“fiscal year 2021”) included 52 weeks. The fiscal year ended January 3, 2021 (“fiscal year 2020”) included 53\nweeks. The fiscal year ending December 31, 2023 (“fiscal year 2023”) will include 52 weeks.\nOverview of Fiscal Year 2022\nDuring fiscal year 2022, we continued to see strong returns from our acquisitions as well as our organic investments\nacross technology, marketing and people. Our overall revenue in fiscal year 2022 decreased by $516.0 million, or 13%, as\ncompared to fiscal year 2021, reflecting a decrease of $913.0 million, or 31%, in our Diagnostics segment revenue, partially\noffset by an increase of $395.2 million, or 44%, in our Discovery & Analytical Solutions segment revenue. Revenue from our\n2021 acquisitions contributed $366.9 million to our overall revenue during fiscal year 2022. The decrease in our Diagnostics\nsegment revenue during fiscal year 2022 was primarily driven by decreased demand for our COVID-19 product offerings,\npartially offset by an increase in our core product offerings resulting in a decrease of $689.0 million in our immunodiagnostics\nrevenue and a decrease of $225.8 million in our applied genomics revenue. Revenue from our 2021 acquisitions contributed\n$58.1 million to our Diagnostics segment revenue during fiscal year 2022. The increase in our Discovery & Analytical\nSolutions segment revenue during fiscal year 2022 was driven by an increase of $395.2 million in our life sciences market\nrevenue. Revenue from our 2021 acquisitions contributed $308.7 million to the increase in our Discovery & Analytical\nSolutions segment revenue during fiscal year 2022.\nIn our Diagnostics segment, we experienced a global decline in demand for our COVID-19 product offerings due to the\ncancellation of our service contracts for the State of California and the United Kingdom, and lower COVID-19 testing volumes\ncompared to fiscal year 2021. We saw strong growth in our core immunodiagnostics business in the Americas and Europe,\npartially offset by the impact of extensive shutdowns in China. In our reproductive health business, an expanded range of\nproduct offerings and increased geographic reach more than offset the impact of declining birthrates.\nIn our Discovery & Analytical Solutions segment, the increase in our life sciences market revenue was the result of an\nincrease in revenue in our pharmaceutical and biotechnology markets across all regions. Instruments, reagents and software\nexperienced strong growth and we saw a positive impact from pricing actions we took in early 2022.\nOur consolidated gross margins decreased 350 basis points in fiscal year 2022, as compared to fiscal year 2021, primarily\ndue to increased amortization of acquired intangible assets and lower revenue from our COVID-19 product offerings, partially\noffset by a favorable shift in product mix and service productivity. Our consolidated operating margin decreased 1,045 basis\npoints in fiscal year 2022, as compared to fiscal year 2021, primarily due to lower revenue from our COVID-19 product\nofferings, increased costs related to amortization of acquired intangible assets, and investments in new product development\nand growth initiatives. During fiscal year 2022, supply chain disruptions and inflation did not materially impact our results of\noperations as compared to fiscal year 2021 as the effects of our initiatives to reduce transportation costs more than offset the\nimpact of inflation on our raw materials purchases. During fiscal year 2022, supply chain disruptions and inflation increased\nour cost of goods sold by less than $10.0 million as compared to fiscal year 2021.\nOverall, we believe that our strategic priorities and recent portfolio transformations, coupled with our expanded range of\nproduct offerings, leading market positions, global scale and financial strength provides us with a foundation for continued\nrevenue growth, strong margins and cash flows, and long-term earnings per share growth.\n\n\nPage 32:\n\nConsolidated Results of Operations\nFiscal Year 2022 Compared to Fiscal Year 2021\nRevenue\nRevenue for fiscal year 2022 was $3.3 billion, as compared to $3.8 billion for fiscal year 2021, a decrease of $0.5 billion,\nor 13%, which includes an approximate 4% decrease in revenue attributable to unfavorable changes in foreign exchange rates,\npartially offset by an approximate 9% increase in revenue attributable to acquisitions. Revenue from our 2021 acquisitions\ncontributed $366.9 million to our overall revenue during fiscal year 2022. The analysis in the remainder of this paragraph\ncompares segment revenue for fiscal year 2022 as compared to fiscal year 2021 and includes the effect of foreign exchange rate\nfluctuations, and acquisitions and divestitures. The decrease in total revenue reflects a decrease in our Diagnostics segment\nrevenue of $913.0 million, or 31%, due to decreased demand for our COVID-19 product offerings, partially offset by an\nincrease in our core product offerings resulting in a decrease of $689.0 million in our immunodiagnostics revenue and a\ndecrease of $225.8 million in our applied genomics revenue. Our Discovery & Analytical Solutions segment revenue increased\nby $395.2 million, or 44%, due to increase in revenue in our life sciences market, particularly in the pharmaceutical and\nbiotechnology markets. As a result of adjustments to deferred revenue related to certain acquisitions required by business\ncombination rules, we did not recognize $0.8 million and $2.6 million of revenue for fiscal years 2022 and 2021, respectively,\nthat otherwise would have been recorded by the acquired businesses during each of the respective periods.\nCost of Revenue\nCost of revenue for fiscal year 2022 was $1.3 billion, as compared to $1.4 billion for fiscal year 2021, a decrease of\napproximately $71.8 million, or 5%. As a percentage of revenue, cost of revenue increased to 40% in fiscal year 2022 from\n36% in fiscal year 2021, resulting in a decrease in gross margin of approximately 350 basis points to 60% in fiscal year 2022\nfrom 64% in fiscal year 2021. Amortization of intangible assets increased to $141.6 million for fiscal year 2022, as compared to\n$100.7 million for fiscal year 2021. Amortization of intangible assets from our 2021 acquisitions amounted to $88.5 million for\nfiscal year 2022. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions added\nan incremental expense of $45.3 million for fiscal year 2022, as compared to $35.2 million for fiscal year 2021. Other purchase\naccounting adjustments added an incremental expense of $6.2 million for fiscal year 2022, of which $5.6 million was\nacquisition-related stock compensation and $0.6 million was increased depreciation on property, plant and equipment. The\noverall decrease in gross margin was partially offset by a favorable shift in product mix, pricing actions and service\nproductivity.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2022 were $1,025.5 million, as compared to $975.2 million\nfor fiscal year 2021, an increase of approximately $50.3 million, or 5%. As a percentage of revenue, selling, general and\nadministrative expenses increased to 31% in fiscal year 2022 from 25% in fiscal year 2021. Amortization of intangible assets\nincreased to $229.1 million for fiscal year 2022, as compared to $155.9 million for fiscal year 2021. Amortization of intangible\nassets from our 2021 acquisitions amounted to $135.3 million for fiscal year 2022. Acquisition and divestiture-related expenses\nadded an incremental expense of $28.9 million for fiscal year 2022, of which $15.6 million was acquisition-related stock\ncompensation, as compared to acquisition and divestiture-related expenses increasing expenses by $59.7 million for fiscal year\n2021, of which $3.9 million was acquisition-related stock compensation. Purchase accounting adjustments decreased expenses\nby $1.2 million for fiscal year 2022, resulting from a $1.4 million change in contingent consideration, partially offset by $0.2\nmillion in increased depreciation on property, plant and equipment, as compared to purchase accounting adjustments increasing\nexpenses by $2.9 million for fiscal year 2021, which was attributable to change in contingent consideration. Asset impairment\ncosts added an incremental expense of $3.9 million for fiscal year 2021. Legal costs for significant litigation matters and\nsettlements, net of reversals, decreased expenses by $0.6 million for fiscal year 2022. In addition to the above items, the\nincrease in selling, general and administrative expenses was primarily the result of costs related to investments in people, digital\ncapabilities, innovation, and recent acquisitions.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2022 were $221.6 million, as compared to $200.3 million for fiscal\nyear 2021, an increase of $21.3 million, or 11%. As a percentage of revenue, research and development expenses increased to\n7% in fiscal year 2022 from 5% in fiscal year 2021. Stock compensation related to our acquisitions added an incremental\nexpense of $5.4 million in fiscal year 2022, as compared to $1.4 million for fiscal year 2021. Purchase accounting adjustments\nfor depreciation on property, plant and equipment added an incremental expense of $0.2 million in fiscal year 2022, as\ncompared to $0.1 million for fiscal year 2021. Excluding the factors above, the net increase in research and development\n32",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000230_segments",
      "report_id": "ID_000230",
      "company_name": "Revvity",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Discovery & Analytical Solutions and Diagnostics",
      "golden_context": "Page 11:\n\ncent Developments\nAs part of our strategy to grow our core businesses and transform our portfolio, we have recently taken the following\nactions:\nDiscontinued Operations in Fiscal Year 2022:\nIn August 2022, we entered into a Master Purchase and Sale Agreement (the “Purchase Agreement”) with Polaris\nPurchaser, L.P. (the “Purchaser”), a Delaware limited partnership owned by funds managed by affiliates of New Mountain\nCapital L.L.C. (the “Sponsor”), under which we agreed to sell to the Purchaser certain assets and the equity interests of certain\nentities constituting our Analytical, Food and Enterprise Services businesses (the “Business”) (as further defined in the\nPurchase Agreement), for cash consideration of up to approximately $2.45 billion and the Purchaser’s assumption of certain\nliabilities relating to the Business (collectively, the “Transaction”). Approximately $2.30 billion of the purchase price will be\npayable at closing, subject to certain customary adjustments, which includes $75.0 million in deferred payments tied to the\ntransfer of the PerkinElmer brand and related trademarks to the Purchaser (which may be completed within 24 months\nfollowing the date of the closing at our election). The Purchase Agreement also provides for potential post-closing payments\ntotaling up to $150.0 million, which are contingent on the exit valuation the Sponsor and its affiliated funds receive on a sale or\nother capital events related to the Business. The Transaction is expected to close in the first quarter of fiscal year 2023, subject\nto regulatory approvals and other customary closing conditions.\n3\nBusiness Segments and Products\nWe report our business in two segments: Discovery & Analytical Solutions and Diagnostics.\nDiscovery & Analytical Solutions Segment\nOur comprehensive portfolio of technologies helps life sciences researchers better understand diseases and develop\ntreatments. In addition, we enable scientists to detect, monitor and manage contaminants and toxic chemicals that impact our\nenvironment and food supply as well as enable manufacturers to verify product quality and safety. Our Discovery & Analytical\nSolutions segment serves the life sciences and applied markets.\nLife Sciences:\nIn the life sciences market, we provide a broad suite of products, solutions and services that facilitate optimized\nworkflows, increase productivity, and accelerate every stage of the drug discovery and development pipeline. Our offerings\nspan the areas of cell, gene, and protein research, enabling scientists to work smarter, make research breakthroughs, and\ntransform those breakthroughs into real-world outcomes. We partner with global pharmaceutical, biotech and contract research\norganizations, as well as academic institutions, to enable them to discover and develop better treatments and therapeutics to\nfight disease faster and more efficiently.\nApplied Markets:\nThe applied markets consist of environmental, food and industrial markets.\nFor the environmental market, we develop and provide analytical technologies, solutions and services that enable our\ncustomers to understand and characterize the health and quality of our environment, including air, water and soil. Our solutions\nare used to detect and help reduce the impact commercial products and industrial processes have on our environment. For\nexample, our solutions help ensure compliance with regulatory standards that protect the purity of the world’s water supply by\ndetecting harmful substances, including trace metals such as lead, organic pollutants such as pesticides and benzene, and\nemerging contaminants such as microplastics and polyfluoroalkyl substances (PFAS). We provide the tools needed to meet\nrigorous regulatory requirements for environmental testing, meet quality specifications and safety standards, and innovate for\nnext generation analytical products.\nWe also offer a variety of solutions that help farmers and food producers provide a growing population with food that is\nsafe, nutritious and appealing, and assist manufacturers with ensuring product consistency and maximizing production yield.\nOur solutions confirm food quality, including the le",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_cash_flow",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 91272k, investing: -761210k, financing: -947121k, total cash flow: 443627k",
      "golden_context": "Page 57:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\nJanuary 2,\n2022\nOperating activities:\nNet income $ 693,094 $ 569,179 $ 943,157\nIncome from discontinued operations (513,591) (56,503) (53,721)\nIncome from continuing operations 179,503 512,676 889,436\nAdjustments to reconcile income from continuing operations to net cash\nprovided by continuing operations:\nRestructuring and other costs, net 26,601 13,580 14,358\nDepreciation and amortization 431,769 427,000 311,443\nStock-based compensation 41,410 51,518 29,675\nPension and other post-retirement expense (income) 23,089 (23,104) (28,509)\nChange in fair value of contingent consideration 4,168 (1,377) 3,119\nDeferred taxes (123,664) (105,923) (55,328)\nContingencies and non-cash tax matters 26,183 (1,488) 1,924\nAmortization of deferred debt issuance costs and accretion of discounts 7,349 7,310 4,962\nGain on disposition of businesses and assets, net — (2,887) (1,970)\nAmortization of acquired inventory revaluation — 45,289 35,201\nAsset impairment — — 3,868\nChange in fair value of financial securities 33,921 15,754 (10,985)\nDebt extinguishment gain (3,685) (2,880) —\nUnrealized foreign exchange loss 24,089 — —\nChanges in assets and liabilities which provided (used) cash, excluding\neffects from companies acquired:\nAccounts receivable, net (8,997) 66,093 165,590\nInventories (14,109) (48,634) 32,280\nAccounts payable (76,426) (43,804) (7,577)\nAccrued expenses and other (291,814) (236,623) (57,303)\nNet cash provided by operating activities of continuing operations 279,387 672,500 1,330,184\nNet cash (used in) provided by operating activities of discontinued operations (188,115) 7,310 80,566\nNet cash provided by operating activities 91,272 679,810 1,410,750\nInvesting activities:\nCapital expenditures (81,368) (85,632) (86,020)\nPurchases of investments (6,300) (47,181) (23,130)\nPurchases of marketable securities (1,221,609) — —\nProceeds from maturities of marketable securities 550,000 — —\nProceeds from notes receivables — 8,890 —\nProceeds from disposition of businesses and assets 153 14,505 1,569\nCash paid for acquisitions, net of cash acquired (2,086) (7,518) (3,982,216)\nNet cash used in investing activities of continuing operations (761,210) (116,936) (4,089,797)\n50\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\nJanuary 2,\n2022\nNet cash provided by (used in) investing activities of discontinued operations 2,074,734 (15,915) (22,961)\nNet cash provided by (used in) investing activities 1,313,524 (132,851) (4,112,758)\nFinancing activities:\nPayments on borrowings — (740,000) (1,559,133)\nProceeds from borrowings — 240,000 1,900,282\nPayments of senior unsecured notes (523,808) (57,876) (339,605)\nProceeds from sale of senior unsecured notes — — 3,086,095\nPayments of debt financing and equity issuance costs (15) — (30,983)\nNet proceeds (payments) on other credit facilities 6,323 (1,292) (13,670)\nSettlement of cash flow hedges — (762) (4,482)\nSettlement of swaps — — (14,314)\nPayments for acquisition-related contingent consideration (10,117) (5) (2,208)\nProceeds from issuance of common stock under stock plans 4,344 14,114 25,120\nPurchases of common stock (388,882) (80,638) (73,072)\nDividends paid (34,966) (35,344) (32,373)\nNet cash (used in) provided by financing activities of continuing operations (947,121) (661,803) 2,941,657\nEffect of exchange rate changes on cash, cash equivalents and restricted cash (14,048) (33,747) (22,926)\nNet increase (decrease) in cash, cash equivalents and restricted cash 443,627 (148,591) 216,723\nCash, cash equivalents and restricted cash at beginning of year 470,746 619,337 402,614\nCash, cash equivalents and restricted cash at end of year $ 914,373 $ 470,746 $ 619,337\nSupplemental disclosures of cash flow information\nReconciliation of cash, cash equivalents and restricted cash reported within the\nconsolidated balance sheets that sum to the total shown in the consolidated\nstatements of cash flows:\nCash and cash equivalents $ 913,163 $ 454,358 $ 603,320\nRestricted cash included in other current assets 1,210 1,040 1,018\nRestricted cash included in other assets — 349 —\nCash and cash equivalents included in current assets of discontinued\noperations — 14,999 14,999\nTotal cash, cash equivalents and restricted cash shown in the consolidated\nstatements of cash flows $ 914,373 $ 470,746 $ 619,337\nCash paid during the year for:\nInterest $ 94,008 $ 97,934 $ 54,120\nIncome taxes 359,800 323,077 364,565\nSupplemental disclosures of non-cash investing and financing activities:\nConsideration receivable from sale of Business $ 241,353 $ — $ —\nEquity issued for business combination, net of issuance costs — — 2,638,144\nThe accompanying notes are an integral part of these consolidated financial statements.\n51\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nNature of Operations and Accounting Policies\nNature of Operations: Revvity, Inc. (the “Company”) is a leading provider of health sciences solutions, technologies,\nexpertise and services that deliver complete workflow from discovery to development, and diagnosis to cure. The Company has\ntwo operating segments: Life Sciences and Diagnostics. The Company’s Life Sciences segment focuses on service and\ninnovating for customers spanning the life sciences market. The Company’s Diagnostics segment is targeted towards meeting\nNote 1: the needs of clinically-oriented customers, especially within the growing areas of reproductive health, emerging market\ndiagnostics and applied genomics.\nEffective as of April 26, 2023, the Company changed its name from “PerkinElmer, Inc.” to “Revvity, Inc.”. Effective as of\nMay 16, 2023, the Company changed the ticker symbol for its common stock to “RVTY” and the ticker symbol for its 1.875%\nNotes due 2026 to “RVTY 26”.\nThe consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany\nbalances and transactions have been eliminated in consolidation. In March 2023, the Company completed the previously\nannounced sale of certain assets and the equity interests of certain entities constituting the Company’s Applied, Food and\nEnterprise Services businesses (the “Business”). The Business is reported for all periods as discontinued operations in the\nCompany’s consolidated financial statements.\nThe Company’s fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a\n52/53-week format and as a result, certain fiscal years will contain 53 weeks. Each of the fiscal years ended December 31, 2023\n(“fiscal year 2023”), January 1, 2023 (“fiscal year 2022”) and January 2, 2022 (“fiscal year 2021”) included 52 weeks. The\nfiscal year ending December 29, 2024 (“fiscal year 2024”) will include 52 weeks.\nAccounting Policies and Estimates: The preparation of consolidated financial statements in accordance with United States\n(“U.S.”) Generally Accepted Accounting Principles (“GAAP”) requires the Company to make estimates and judgments that\naffect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and\nliabilities. On an ongoing basis, the Company evaluates its estimates. The Company bases its estimates on historical experience\nand on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis\nfor making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual\nresults may differ from these estimates.\nRevenue Recognition: The Company enters into contracts that can include various combinations of products and services,\nwhich are generally capable of being distinct and accounted for as separate performance obligations. The Company recognizes\nrevenue in an amount that reflects the consideration the Company expects to receive in exchange for the promised products or\nservices when a performance obligation is satisfied by transferring control of those products or services to customers.\nTaxes that are collected by the Company from a customer and assessed by a governmental authority, that are both imposed",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_company_type",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\n_____________________________________\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from _____ to ________\nCommission file number 001-5075\n_____________________________________\nRevvity, Inc.\n(Exact name of registrant as specified in its charter)\nMassachusetts 04-2052042\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n940 Winter Street, Waltham, Massachusetts (Address of Principal Executive Offices) 02451\n(Zip Code)\n(781) 663-6900\n(Registrant’s telephone number, including area code)\n____________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $1 par value per share 1.875% Notes due 2026 Trading Symbol (s) RVTY RVTY 26 Name of Each Exchange on Which Registered\nThe New York Stock Exchange\nThe New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit and post such files). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_key_financials",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "revenue decreased by 561.3m, operating income from continuing operations 300562k",
      "golden_context": "Page 37-40:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53-week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended December 31, 2023 (“fiscal year 2023”),\nJanuary 1, 2023 (“fiscal year 2022”) and January 2, 2022 (“fiscal year 2021”) included 52 weeks. The fiscal year ending\nDecember 29, 2024 (“fiscal year 2024”) will include 52 weeks.\nOverview of Fiscal Year 2023\nDuring fiscal year 2023, we delivered differentiated performance despite market headwinds, demonstrating the strength of\nour product portfolio, continued innovation, and investments in our people. Our overall revenue in fiscal year 2023 decreased\nby $561.3 million, or 17%, as compared to fiscal year 2022, reflecting a decrease of $560.7 million, or 28%, in Diagnostics\nsegment revenue and a decrease of $0.6 million, or less than 1%, in Life Sciences segment revenue. The decrease in\nDiagnostics segment revenue was primarily driven by decreased demand for COVID-19 product offerings, partially offset by\ngrowth in the core immunodiagnostics business. The decrease in Life Sciences segment revenue was driven by a decrease in\ninstruments revenue due to pharmaceutical and biotechnology market headwinds and a decrease in software revenue from the\ntiming of contract renewals, partially offset by an increase in reagents revenue.\nOur consolidated gross margins decreased 411 basis points in fiscal year 2023, as compared to fiscal year 2022, primarily\ndue to lower revenue from COVID-19 product offerings, and an unfavorable shift in product mix, partially offset by pricing\nactions. Our consolidated operating margin decreased 1,150 basis points in fiscal year 2023, as compared to fiscal year 2022,\nalso due to lower revenue from COVID-19 product offerings and unfavorable shift in product mix, partially offset by operating\nexpense reductions.\nOverall, we believe that our range of product offerings, leading market positions, global scale and financial strength\nprovides us with a foundation for continued long-term growth, margin expansion and robust cash flow generation.\nConsolidated Results of Operations\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue\nRevenue for fiscal year 2023 was $2,750.6 million, as compared to $3,311.8 million for fiscal year 2022, a decrease of\n$561.3 million, or 17%. The analysis in the remainder of this paragraph compares segment revenue for fiscal year 2023 as\ncompared to fiscal year 2022 and includes the effect of foreign exchange rate fluctuations. Diagnostics segment revenue for\nfiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of $560.7 million, or\n28%, due to a decrease of $380.3 million in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics\nrevenue and a decrease of $15.3 million in reproductive health revenue. Life Sciences segment revenue was $1,292.3 million\nfor fiscal year 2023, as compared to $1,292.9 million for fiscal year 2022, a decrease of $0.6 million, or less than 1%, driven by\n30\na decrease of $24.3 million in instruments revenue and a decrease of $17.7 million in software revenue, partially offset by an\nincrease of $41.4 million in reagents revenue.\nCost of Revenue\nCost of revenue for fiscal year 2023 was $1,210.9 million, as compared to $1,322.0 million for fiscal year 2022, a\ndecrease of approximately $111.1 million, or 8%. As a percentage of revenue, cost of revenue increased to 44% in fiscal year\n2023 from 40% in fiscal year 2022, resulting in a decrease in gross margin of approximately 411 basis points to 56% in fiscal\nyear 2023 from 60% in fiscal year 2022 due to lower COVID-19 revenue and an unfavorable shift in product mix, partially\noffset by pricing actions. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions\nadded an incremental expense of $45.3 million for fiscal year 2022. Stock compensation expense related to awards given to\nBioLegend employees post-acquisition added an incremental expense of $2.8 million for fiscal year 2023, as compared to $5.6\nmillion for fiscal year 2022. The above decreases were partially offset by an increase in amortization of intangible assets which\nwas $147.6 million for fiscal year 2023, as compared to $141.6 million for fiscal year 2022.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2023 were $1,022.6 million, as compared to $1,025.5 million\nfor fiscal year 2022, a decrease of approximately $3.0 million, or 0.3%. As a percentage of revenue, selling, general and\nadministrative expenses increased to 37% in fiscal year 2023 from 31% in fiscal year 2022. Amortization of intangible assets\ndecreased and was $217.5 million for fiscal year 2023, as compared to $229.1 million for fiscal year 2022. Purchase accounting\nadjustments added an incremental expense of $4.3 million for fiscal year 2023, which primarily consisted of a change in\ncontingent consideration, as compared to decreasing expenses by $1.2 million for fiscal year 2022. Legal costs for significant\nlitigation matters and settlements, net of reversals, were minimal for fiscal year 2023, as compared to decreasing expenses by\n$0.6 million for fiscal year 2022. Acquisition and divestiture-related expenses, which primarily consisted of rebranding, legal\nand integration costs and stock compensation expense related to the awards given to BioLegend employees post-acquisition,\nadded an incremental expense of $62.0 million for fiscal year 2023, as compared to $28.9 million for fiscal year 2022. Costs for\nsignificant environmental matters also added an incremental expense of $2.5 million for fiscal year 2023. Restructuring and\nother, net, increased and was $26.6 million for fiscal year 2023, as compared to $13.6 million for fiscal year 2022. Excluding\nthe factors above, the net decrease in selling, general and administrative expenses was the result of cost containment and\nproductivity initiatives.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2023 were $216.6 million, as compared to $221.6 million for fiscal\nyear 2022, a decrease of $5.0 million, or 2%. As a percentage of revenue, research and development expenses increased to 8%\nin fiscal year 2023 from 7% in fiscal year 2022. The decrease in research and development expenses was primarily driven by a\ncost containment and productivity initiatives, as well as a decrease in stock compensation expense related to awards given to\nBioLegend employees post-acquisition, which was an expense of $4.3 million in fiscal year 2023, as compared to $5.4 million\nfor fiscal year 2022. The decreased expenses were partially offset by our investments in new product development.\nInterest and Other Expense, Net\nInterest and other expense, net, consisted of the following for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ (72,131) $ (3,589)\n98,813 103,955\n33,921 15,754\n19,006 (33,158)\nInterest income Interest expense including costs of bridge financing Change in fair value of financial securities Other components of net periodic pension cost (credit) Foreign exchange losses and other expense, net 37,977 7,900\nTotal interest and other expense, net $ 117,586 $ 90,862\n31\nThe increase of $26.7 million in interest and other expense, net, in fiscal year 2023 as compared to fiscal year 2022 was\nprimarily due to an increase in other components of net periodic pension cost of $52.2 million, an increase in foreign exchange\nlosses and other expense, net of $30.1 million and an increase in the change in fair value of financial securities of $18.2 million.\nOther components of net periodic pension cost increased due to the decreases in the applicable discount rates. Foreign exchange\nlosses and other expense, net, increased primarily due to a foreign exchange loss of $24.0 million for the fiscal year 2023\nrelated to the cash proceeds from the sale of the Business that were held offshore. These increases in interest and other expense,\nnet, were partially offset by an increase in interest income of $68.5 million and a decrease of $5.1 million in interest expense.\nInterest income increased due to an increase in investments and higher interest rates. Interest expense decreased due to $3.7\nmillion of debt extinguishment income for the fiscal year 2023, as compared to $2.9 million of debt extinguishment income for\nthe fiscal year 2022, as well as a result of an overall decrease in debt. A more complete discussion of our liquidity is set forth\nbelow under the heading “Liquidity and Capital Resources.”\nProvision for Income Taxes\nThe effective tax rates on continuing operations were 1.9% and 21.3% for fiscal years 2023 and 2022, respectively. The\nlower than expected 2023 tax rate will not repeat in 2024. A reconciliation of income tax expense at the U.S. federal statutory\nincome tax rate to the recorded tax provision is as follows for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ 38,346 $ 136,886\n(18,479) (5,221)\n(4,594) 22,102\n(265) 7,820\n(12,795) —\n3,971 (10,160)\n2,225 845\n(4,718) (7,132)\n(6,725) —\n6,772 4,964\n(4,737) (4,940)\nTax at statutory rate Non-U.S. rate differential, net U.S. taxation of multinational operations State income taxes, net Impact of rate changes Prior year tax matters Effect of stock compensation General business tax credits Transfer pricing matters Change in valuation allowance Effect of foreign repatriations Other, net 4,472 (6,003)\nTotal $ 3,473 $ 139,161\nCertain countries in which we have operations have adopted legislation or are expected to adopt legislation influenced by\nthe OECD Pillar Two rules, which imposes a minimum tax rate of 15% among other requirements. We will continue to evaluate\nthe potential consequences of Pillar Two legislation on our effective tax rate as the legislation and related interpretations of\nOECD guidance continues to evolve.\n32\nFiscal Year 2022 Compared to Fiscal Year 2021\nFor a discussion of our results of operations for fiscal year 2022 as compared to fiscal year 2021, see Item 7,\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations in our annual report on Form 10-K\nfor the fiscal year ended January 1, 2023 filed with the Securities and Exchange Commission on March 1, 2023.\nReporting Segment Results of Continuing Operations\nDiagnostics\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue for fiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of\n$560.7 million, or 28%, which includes an approximate 1% decrease in revenue attributable to favorable changes in foreign\nexchange rates. The decrease in our Diagnostics segment revenue during fiscal year 2023 was due to a decrease of $380.3\nmillion in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics revenue and a decrease of $15.3\nmillion in reproductive health revenue.\nSegment operating income from contin\n\n\nPage 97:\n\ncluding determining the compensation of the business leaders for each of the Company’s operating segments.\nThe primary financial measure by which the Company evaluates the performance of its segments is adjusted operating\nincome, which consists of operating income plus amortization of intangible assets, adjustments to operations arising from\npurchase accounting (primarily adjustments to the fair value of acquired inventory that are subsequently recognized),\nacquisition and divestiture-related costs, and other costs that are not expected to recur or are of a non-cash nature, including\nprimarily restructuring actions.\nRevenue and operating income from continuing operations by reportable segment are shown in the table below for the\nfiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\nJanuary 2,\n2022\n(In thousands)\nRevenues\nLife Sciences $ 1,292,340 $ 1,292,909 $ 897,718\nDiagnostics 1,459,058 2,019,727 2,932,738\nRevenue purchase accounting adjustments (827) (814) (2,648)\nTotal revenues $ 2,750,571 $ 3,311,822 $ 3,827,808\nSegment Operating Income\nLife Sciences $ 489,349 $ 503,243 $ 281,602\nDiagnostics 320,928 781,985 1,432,769\nCorporate (40,417) (73,431) (77,364)\nSubtotal reportable segments 769,860 1,211,797 1,637,007\nAmortization of intangible assets (365,113) (370,638) (256,569)\nPurchase accounting adjustments (5,956) (45,681) (40,993)\nAcquisition and divestiture-related costs (69,159) (39,826) (62,760)\nAsset impairment — — (3,767)\nSignificant litigation matters and settlements (12) 627 (103)\nSignificant environmental matters (2,457) — —\nRestructuring and other, net (26,601) (13,580) (14,358)\nOperating income from continuing operations 300,562 742,699 1,258,457\nInterest and other expense, net 117,586 90,862 54,875\nIncome from continuing operations before income taxes $ 182,976 $ 651,837 $ 1,203,582\nDecember 31, 2023:\nDecember 31,\n2023\nJanuary 2,\n2022\nLife Sciences Diagnostics Corporate Additional information relating to the Company’s reportable segments is as follows for the three fiscal years ended\nDepreciation and Amortization Expense January 1,\nJanuary 2,\n2023\n2022\nDecember 31,\n2023\nCapital Expenditures\nJanuary 1,\n2023\n(In thousands) (In thousands)\n$ 263,698 $ 94,700 $ 35,335 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_revenue",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "2750.6m revenue",
      "golden_context": "Page 37-40:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53-week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended December 31, 2023 (“fiscal year 2023”),\nJanuary 1, 2023 (“fiscal year 2022”) and January 2, 2022 (“fiscal year 2021”) included 52 weeks. The fiscal year ending\nDecember 29, 2024 (“fiscal year 2024”) will include 52 weeks.\nOverview of Fiscal Year 2023\nDuring fiscal year 2023, we delivered differentiated performance despite market headwinds, demonstrating the strength of\nour product portfolio, continued innovation, and investments in our people. Our overall revenue in fiscal year 2023 decreased\nby $561.3 million, or 17%, as compared to fiscal year 2022, reflecting a decrease of $560.7 million, or 28%, in Diagnostics\nsegment revenue and a decrease of $0.6 million, or less than 1%, in Life Sciences segment revenue. The decrease in\nDiagnostics segment revenue was primarily driven by decreased demand for COVID-19 product offerings, partially offset by\ngrowth in the core immunodiagnostics business. The decrease in Life Sciences segment revenue was driven by a decrease in\ninstruments revenue due to pharmaceutical and biotechnology market headwinds and a decrease in software revenue from the\ntiming of contract renewals, partially offset by an increase in reagents revenue.\nOur consolidated gross margins decreased 411 basis points in fiscal year 2023, as compared to fiscal year 2022, primarily\ndue to lower revenue from COVID-19 product offerings, and an unfavorable shift in product mix, partially offset by pricing\nactions. Our consolidated operating margin decreased 1,150 basis points in fiscal year 2023, as compared to fiscal year 2022,\nalso due to lower revenue from COVID-19 product offerings and unfavorable shift in product mix, partially offset by operating\nexpense reductions.\nOverall, we believe that our range of product offerings, leading market positions, global scale and financial strength\nprovides us with a foundation for continued long-term growth, margin expansion and robust cash flow generation.\nConsolidated Results of Operations\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue\nRevenue for fiscal year 2023 was $2,750.6 million, as compared to $3,311.8 million for fiscal year 2022, a decrease of\n$561.3 million, or 17%. The analysis in the remainder of this paragraph compares segment revenue for fiscal year 2023 as\ncompared to fiscal year 2022 and includes the effect of foreign exchange rate fluctuations. Diagnostics segment revenue for\nfiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of $560.7 million, or\n28%, due to a decrease of $380.3 million in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics\nrevenue and a decrease of $15.3 million in reproductive health revenue. Life Sciences segment revenue was $1,292.3 million\nfor fiscal year 2023, as compared to $1,292.9 million for fiscal year 2022, a decrease of $0.6 million, or less than 1%, driven by\n30\na decrease of $24.3 million in instruments revenue and a decrease of $17.7 million in software revenue, partially offset by an\nincrease of $41.4 million in reagents revenue.\nCost of Revenue\nCost of revenue for fiscal year 2023 was $1,210.9 million, as compared to $1,322.0 million for fiscal year 2022, a\ndecrease of approximately $111.1 million, or 8%. As a percentage of revenue, cost of revenue increased to 44% in fiscal year\n2023 from 40% in fiscal year 2022, resulting in a decrease in gross margin of approximately 411 basis points to 56% in fiscal\nyear 2023 from 60% in fiscal year 2022 due to lower COVID-19 revenue and an unfavorable shift in product mix, partially\noffset by pricing actions. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions\nadded an incremental expense of $45.3 million for fiscal year 2022. Stock compensation expense related to awards given to\nBioLegend employees post-acquisition added an incremental expense of $2.8 million for fiscal year 2023, as compared to $5.6\nmillion for fiscal year 2022. The above decreases were partially offset by an increase in amortization of intangible assets which\nwas $147.6 million for fiscal year 2023, as compared to $141.6 million for fiscal year 2022.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2023 were $1,022.6 million, as compared to $1,025.5 million\nfor fiscal year 2022, a decrease of approximately $3.0 million, or 0.3%. As a percentage of revenue, selling, general and\nadministrative expenses increased to 37% in fiscal year 2023 from 31% in fiscal year 2022. Amortization of intangible assets\ndecreased and was $217.5 million for fiscal year 2023, as compared to $229.1 million for fiscal year 2022. Purchase accounting\nadjustments added an incremental expense of $4.3 million for fiscal year 2023, which primarily consisted of a change in\ncontingent consideration, as compared to decreasing expenses by $1.2 million for fiscal year 2022. Legal costs for significant\nlitigation matters and settlements, net of reversals, were minimal for fiscal year 2023, as compared to decreasing expenses by\n$0.6 million for fiscal year 2022. Acquisition and divestiture-related expenses, which primarily consisted of rebranding, legal\nand integration costs and stock compensation expense related to the awards given to BioLegend employees post-acquisition,\nadded an incremental expense of $62.0 million for fiscal year 2023, as compared to $28.9 million for fiscal year 2022. Costs for\nsignificant environmental matters also added an incremental expense of $2.5 million for fiscal year 2023. Restructuring and\nother, net, increased and was $26.6 million for fiscal year 2023, as compared to $13.6 million for fiscal year 2022. Excluding\nthe factors above, the net decrease in selling, general and administrative expenses was the result of cost containment and\nproductivity initiatives.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2023 were $216.6 million, as compared to $221.6 million for fiscal\nyear 2022, a decrease of $5.0 million, or 2%. As a percentage of revenue, research and development expenses increased to 8%\nin fiscal year 2023 from 7% in fiscal year 2022. The decrease in research and development expenses was primarily driven by a\ncost containment and productivity initiatives, as well as a decrease in stock compensation expense related to awards given to\nBioLegend employees post-acquisition, which was an expense of $4.3 million in fiscal year 2023, as compared to $5.4 million\nfor fiscal year 2022. The decreased expenses were partially offset by our investments in new product development.\nInterest and Other Expense, Net\nInterest and other expense, net, consisted of the following for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ (72,131) $ (3,589)\n98,813 103,955\n33,921 15,754\n19,006 (33,158)\nInterest income Interest expense including costs of bridge financing Change in fair value of financial securities Other components of net periodic pension cost (credit) Foreign exchange losses and other expense, net 37,977 7,900\nTotal interest and other expense, net $ 117,586 $ 90,862\n31\nThe increase of $26.7 million in interest and other expense, net, in fiscal year 2023 as compared to fiscal year 2022 was\nprimarily due to an increase in other components of net periodic pension cost of $52.2 million, an increase in foreign exchange\nlosses and other expense, net of $30.1 million and an increase in the change in fair value of financial securities of $18.2 million.\nOther components of net periodic pension cost increased due to the decreases in the applicable discount rates. Foreign exchange\nlosses and other expense, net, increased primarily due to a foreign exchange loss of $24.0 million for the fiscal year 2023\nrelated to the cash proceeds from the sale of the Business that were held offshore. These increases in interest and other expense,\nnet, were partially offset by an increase in interest income of $68.5 million and a decrease of $5.1 million in interest expense.\nInterest income increased due to an increase in investments and higher interest rates. Interest expense decreased due to $3.7\nmillion of debt extinguishment income for the fiscal year 2023, as compared to $2.9 million of debt extinguishment income for\nthe fiscal year 2022, as well as a result of an overall decrease in debt. A more complete discussion of our liquidity is set forth\nbelow under the heading “Liquidity and Capital Resources.”\nProvision for Income Taxes\nThe effective tax rates on continuing operations were 1.9% and 21.3% for fiscal years 2023 and 2022, respectively. The\nlower than expected 2023 tax rate will not repeat in 2024. A reconciliation of income tax expense at the U.S. federal statutory\nincome tax rate to the recorded tax provision is as follows for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ 38,346 $ 136,886\n(18,479) (5,221)\n(4,594) 22,102\n(265) 7,820\n(12,795) —\n3,971 (10,160)\n2,225 845\n(4,718) (7,132)\n(6,725) —\n6,772 4,964\n(4,737) (4,940)\nTax at statutory rate Non-U.S. rate differential, net U.S. taxation of multinational operations State income taxes, net Impact of rate changes Prior year tax matters Effect of stock compensation General business tax credits Transfer pricing matters Change in valuation allowance Effect of foreign repatriations Other, net 4,472 (6,003)\nTotal $ 3,473 $ 139,161\nCertain countries in which we have operations have adopted legislation or are expected to adopt legislation influenced by\nthe OECD Pillar Two rules, which imposes a minimum tax rate of 15% among other requirements. We will continue to evaluate\nthe potential consequences of Pillar Two legislation on our effective tax rate as the legislation and related interpretations of\nOECD guidance continues to evolve.\n32\nFiscal Year 2022 Compared to Fiscal Year 2021\nFor a discussion of our results of operations for fiscal year 2022 as compared to fiscal year 2021, see Item 7,\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations in our annual report on Form 10-K\nfor the fiscal year ended January 1, 2023 filed with the Securities and Exchange Commission on March 1, 2023.\nReporting Segment Results of Continuing Operations\nDiagnostics\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue for fiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of\n$560.7 million, or 28%, which includes an approximate 1% decrease in revenue attributable to favorable changes in foreign\nexchange rates. The decrease in our Diagnostics segment revenue during fiscal year 2023 was due to a decrease of $380.3\nmillion in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics revenue and a decrease of $15.3\nmillion in reproductive health revenue.\nSegment operating income from contin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_revenue_growth",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "decrease of 17% (decrease of 561.3m to 2750.6m)",
      "golden_context": "Page 37-40:\n\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations\nThis annual report on Form 10-K, including the following management’s discussion and analysis, contains forward-\nlooking information that you should read in conjunction with the consolidated financial statements and notes to consolidated\nfinancial statements that we have included elsewhere in this annual report on Form 10-K. For this purpose, any statements\ncontained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such\nas “believes,” “plans,” “anticipates,” “expects,” “will” and similar expressions are intended to identify forward-looking\nstatements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-\nlooking statements we make. We have included important factors above under the heading “Risk Factors” in Item 1A above\nthat we believe could cause actual results to differ materially from the forward-looking statements we make. We are not\nobligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.\nAccounting Period\nOur fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53-week format and as a\nresult, certain fiscal years will contain 53 weeks. Each of the fiscal years ended December 31, 2023 (“fiscal year 2023”),\nJanuary 1, 2023 (“fiscal year 2022”) and January 2, 2022 (“fiscal year 2021”) included 52 weeks. The fiscal year ending\nDecember 29, 2024 (“fiscal year 2024”) will include 52 weeks.\nOverview of Fiscal Year 2023\nDuring fiscal year 2023, we delivered differentiated performance despite market headwinds, demonstrating the strength of\nour product portfolio, continued innovation, and investments in our people. Our overall revenue in fiscal year 2023 decreased\nby $561.3 million, or 17%, as compared to fiscal year 2022, reflecting a decrease of $560.7 million, or 28%, in Diagnostics\nsegment revenue and a decrease of $0.6 million, or less than 1%, in Life Sciences segment revenue. The decrease in\nDiagnostics segment revenue was primarily driven by decreased demand for COVID-19 product offerings, partially offset by\ngrowth in the core immunodiagnostics business. The decrease in Life Sciences segment revenue was driven by a decrease in\ninstruments revenue due to pharmaceutical and biotechnology market headwinds and a decrease in software revenue from the\ntiming of contract renewals, partially offset by an increase in reagents revenue.\nOur consolidated gross margins decreased 411 basis points in fiscal year 2023, as compared to fiscal year 2022, primarily\ndue to lower revenue from COVID-19 product offerings, and an unfavorable shift in product mix, partially offset by pricing\nactions. Our consolidated operating margin decreased 1,150 basis points in fiscal year 2023, as compared to fiscal year 2022,\nalso due to lower revenue from COVID-19 product offerings and unfavorable shift in product mix, partially offset by operating\nexpense reductions.\nOverall, we believe that our range of product offerings, leading market positions, global scale and financial strength\nprovides us with a foundation for continued long-term growth, margin expansion and robust cash flow generation.\nConsolidated Results of Operations\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue\nRevenue for fiscal year 2023 was $2,750.6 million, as compared to $3,311.8 million for fiscal year 2022, a decrease of\n$561.3 million, or 17%. The analysis in the remainder of this paragraph compares segment revenue for fiscal year 2023 as\ncompared to fiscal year 2022 and includes the effect of foreign exchange rate fluctuations. Diagnostics segment revenue for\nfiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of $560.7 million, or\n28%, due to a decrease of $380.3 million in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics\nrevenue and a decrease of $15.3 million in reproductive health revenue. Life Sciences segment revenue was $1,292.3 million\nfor fiscal year 2023, as compared to $1,292.9 million for fiscal year 2022, a decrease of $0.6 million, or less than 1%, driven by\n30\na decrease of $24.3 million in instruments revenue and a decrease of $17.7 million in software revenue, partially offset by an\nincrease of $41.4 million in reagents revenue.\nCost of Revenue\nCost of revenue for fiscal year 2023 was $1,210.9 million, as compared to $1,322.0 million for fiscal year 2022, a\ndecrease of approximately $111.1 million, or 8%. As a percentage of revenue, cost of revenue increased to 44% in fiscal year\n2023 from 40% in fiscal year 2022, resulting in a decrease in gross margin of approximately 411 basis points to 56% in fiscal\nyear 2023 from 60% in fiscal year 2022 due to lower COVID-19 revenue and an unfavorable shift in product mix, partially\noffset by pricing actions. The amortization of purchase accounting adjustments to record the inventory from certain acquisitions\nadded an incremental expense of $45.3 million for fiscal year 2022. Stock compensation expense related to awards given to\nBioLegend employees post-acquisition added an incremental expense of $2.8 million for fiscal year 2023, as compared to $5.6\nmillion for fiscal year 2022. The above decreases were partially offset by an increase in amortization of intangible assets which\nwas $147.6 million for fiscal year 2023, as compared to $141.6 million for fiscal year 2022.\nSelling, General and Administrative Expenses\nSelling, general and administrative expenses for fiscal year 2023 were $1,022.6 million, as compared to $1,025.5 million\nfor fiscal year 2022, a decrease of approximately $3.0 million, or 0.3%. As a percentage of revenue, selling, general and\nadministrative expenses increased to 37% in fiscal year 2023 from 31% in fiscal year 2022. Amortization of intangible assets\ndecreased and was $217.5 million for fiscal year 2023, as compared to $229.1 million for fiscal year 2022. Purchase accounting\nadjustments added an incremental expense of $4.3 million for fiscal year 2023, which primarily consisted of a change in\ncontingent consideration, as compared to decreasing expenses by $1.2 million for fiscal year 2022. Legal costs for significant\nlitigation matters and settlements, net of reversals, were minimal for fiscal year 2023, as compared to decreasing expenses by\n$0.6 million for fiscal year 2022. Acquisition and divestiture-related expenses, which primarily consisted of rebranding, legal\nand integration costs and stock compensation expense related to the awards given to BioLegend employees post-acquisition,\nadded an incremental expense of $62.0 million for fiscal year 2023, as compared to $28.9 million for fiscal year 2022. Costs for\nsignificant environmental matters also added an incremental expense of $2.5 million for fiscal year 2023. Restructuring and\nother, net, increased and was $26.6 million for fiscal year 2023, as compared to $13.6 million for fiscal year 2022. Excluding\nthe factors above, the net decrease in selling, general and administrative expenses was the result of cost containment and\nproductivity initiatives.\nResearch and Development Expenses\nResearch and development expenses for fiscal year 2023 were $216.6 million, as compared to $221.6 million for fiscal\nyear 2022, a decrease of $5.0 million, or 2%. As a percentage of revenue, research and development expenses increased to 8%\nin fiscal year 2023 from 7% in fiscal year 2022. The decrease in research and development expenses was primarily driven by a\ncost containment and productivity initiatives, as well as a decrease in stock compensation expense related to awards given to\nBioLegend employees post-acquisition, which was an expense of $4.3 million in fiscal year 2023, as compared to $5.4 million\nfor fiscal year 2022. The decreased expenses were partially offset by our investments in new product development.\nInterest and Other Expense, Net\nInterest and other expense, net, consisted of the following for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ (72,131) $ (3,589)\n98,813 103,955\n33,921 15,754\n19,006 (33,158)\nInterest income Interest expense including costs of bridge financing Change in fair value of financial securities Other components of net periodic pension cost (credit) Foreign exchange losses and other expense, net 37,977 7,900\nTotal interest and other expense, net $ 117,586 $ 90,862\n31\nThe increase of $26.7 million in interest and other expense, net, in fiscal year 2023 as compared to fiscal year 2022 was\nprimarily due to an increase in other components of net periodic pension cost of $52.2 million, an increase in foreign exchange\nlosses and other expense, net of $30.1 million and an increase in the change in fair value of financial securities of $18.2 million.\nOther components of net periodic pension cost increased due to the decreases in the applicable discount rates. Foreign exchange\nlosses and other expense, net, increased primarily due to a foreign exchange loss of $24.0 million for the fiscal year 2023\nrelated to the cash proceeds from the sale of the Business that were held offshore. These increases in interest and other expense,\nnet, were partially offset by an increase in interest income of $68.5 million and a decrease of $5.1 million in interest expense.\nInterest income increased due to an increase in investments and higher interest rates. Interest expense decreased due to $3.7\nmillion of debt extinguishment income for the fiscal year 2023, as compared to $2.9 million of debt extinguishment income for\nthe fiscal year 2022, as well as a result of an overall decrease in debt. A more complete discussion of our liquidity is set forth\nbelow under the heading “Liquidity and Capital Resources.”\nProvision for Income Taxes\nThe effective tax rates on continuing operations were 1.9% and 21.3% for fiscal years 2023 and 2022, respectively. The\nlower than expected 2023 tax rate will not repeat in 2024. A reconciliation of income tax expense at the U.S. federal statutory\nincome tax rate to the recorded tax provision is as follows for the fiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\n(In thousands)\n$ 38,346 $ 136,886\n(18,479) (5,221)\n(4,594) 22,102\n(265) 7,820\n(12,795) —\n3,971 (10,160)\n2,225 845\n(4,718) (7,132)\n(6,725) —\n6,772 4,964\n(4,737) (4,940)\nTax at statutory rate Non-U.S. rate differential, net U.S. taxation of multinational operations State income taxes, net Impact of rate changes Prior year tax matters Effect of stock compensation General business tax credits Transfer pricing matters Change in valuation allowance Effect of foreign repatriations Other, net 4,472 (6,003)\nTotal $ 3,473 $ 139,161\nCertain countries in which we have operations have adopted legislation or are expected to adopt legislation influenced by\nthe OECD Pillar Two rules, which imposes a minimum tax rate of 15% among other requirements. We will continue to evaluate\nthe potential consequences of Pillar Two legislation on our effective tax rate as the legislation and related interpretations of\nOECD guidance continues to evolve.\n32\nFiscal Year 2022 Compared to Fiscal Year 2021\nFor a discussion of our results of operations for fiscal year 2022 as compared to fiscal year 2021, see Item 7,\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations in our annual report on Form 10-K\nfor the fiscal year ended January 1, 2023 filed with the Securities and Exchange Commission on March 1, 2023.\nReporting Segment Results of Continuing Operations\nDiagnostics\nFiscal Year 2023 Compared to Fiscal Year 2022\nRevenue for fiscal year 2023 was $1,459.1 million, as compared to $2,019.7 million for fiscal year 2022, a decrease of\n$560.7 million, or 28%, which includes an approximate 1% decrease in revenue attributable to favorable changes in foreign\nexchange rates. The decrease in our Diagnostics segment revenue during fiscal year 2023 was due to a decrease of $380.3\nmillion in immunodiagnostics revenue, a decrease of $165.2 million in applied genomics revenue and a decrease of $15.3\nmillion in reproductive health revenue.\nSegment operating income from contin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000231_segments",
      "report_id": "ID_000231",
      "company_name": "Revvity",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Life Sciences and Diagnostics",
      "golden_context": "Page 95:\n\nustry Segment and Geographic Area Information\nThe Company discloses information about its operating segments based on the way that management organizes the\nsegments within the Company for making operating decisions and assessing financial performance. The Company evaluates the\nperformance of its operating segments based on revenue and operating income as adjusted for certain items. Intersegment\nrevenue and transfers are not significant. The accounting policies of the operating segments are the same as those described in\nNote 1.\nThe principal products and services of the Company’s two reportable segments are:\n• Life Sciences. Provides products and services targeted towards the life sciences customers.\n• Diagnostics. Develops diagnostics, tools and applications focused on clinically-oriented customers, especially\nwithin the reproductive health, emerging market diagnostics and applied genomics.\nThe Company has included the expenses for its corporate headquarters, such as legal, tax, audit, human resources,\ninformation technology, and other management and compliance costs, as well as the activity related to the mark-to-market\nadjustment on postretirement benefit plans, as “Corporate” below. The Company has a process to allocate and recharge\nexpenses to the reportable segments when these costs are administered or paid by the corporate headquarters based on the\n89\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)\nextent to which the segment benefited from the expenses. These amounts have been calculated in a consistent manner and are\nincluded in the Company’s calculations of segment results to internally plan and assess the performance of each segment for all\npurposes, including determining the compensation of the business leaders for each of the Company’s operating segments.\nThe primary financial measure by which the Company evaluates the performance of its segments is adjusted operating\nincome, which consists of operating income plus amortization of intangible assets, adjustments to operations arising from\npurchase accounting (primarily adjustments to the fair value of acquired inventory that are subsequently recognized),\nacquisition and divestiture-related costs, and other costs that are not expected to recur or are of a non-cash nature, including\nprimarily restructuring actions.\nRevenue and operating income from continuing operations by reportable segment are shown in the table below for the\nfiscal years ended:\nDecember 31,\n2023\nJanuary 1,\n2023\nJanuary 2,\n2022\n(In thousands)\nRevenues\nLife Sciences $ 1,292,340 $ 1,292,909 $ 897,718\nDiagnostics 1,459,058 2,019,727 2,932,738\nRevenue purchase accou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_cash_flow",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1461m, investing: -233m, financing: -1179m",
      "golden_context": "Page 37:\n\nd Capital Resources\nWe finance our business primarily through cash flows provided by operating activities, borrowings from banks, and proceeds from issuances of debt and equity.\nWe periodically review our capital structure and liquidity position in light of market conditions, expected future cash flows, potential funding requirements for debt\nrefinancing, capital expenditures, and acquisitions, the cost of capital, sensitivity analyses reflecting downside scenarios, the impact on our financial metrics and\ncredit ratings, and our ease of access to funding sources.\nDespite the existing market uncertainties and volatilities stemming from the COVID-19 pandemic, based on our current and expected cash flow from operating\nactivities and available cash, we believe our cash flows provided by operating activities, together with borrowings available under our credit facilities and access to\nthe commercial paper market back stopped by our bank facilities, will continue to provide sufficient liquidity to fund our operations, capital expenditures, and other\ncommitments, including dividends and purchases of our ordinary shares and CHESS Depositary Instruments under authorized share repurchase programs, into the\nforeseeable future.\nOverview\nYear Ended June 30,\n(in millions) 2021 2020 Change 2021 vs. 2020\nNet cash provided by operating activities $ 1,461 $ 1,384 $ 77\nNet cash (used in) provided by investing activities (233) 38 (271)\nNet cash used in financing activities (1,179) (1,236) 57\nCash Flow Overview\nNet Cash Provided by Operating Activities\nNet cash inflows provided by operating activities increased by $77 million, or 6%, to $1,461 million for fiscal year 2021, from $1,384 million for fiscal year\n2020. This increase was primarily due to higher cash earnings in fiscal year 2021 partially offset by working capital outflows versus the prior fiscal year.\nNet Cash (Used in) Provided by Investing Activities\nNet cash flows from investing activities decreased by $271 million, or 713%, to a $233 million outflow for fiscal year 2021, from a $38 million inflow for fiscal\nyear 2020. This decrease was primarily due to higher disposal proceeds from the divestiture of three Bemis' medical packaging facilities located in the United\nKingdom and Ireland (\"EC Remedy\") in the prior period and higher capital expenditures in the current period.\nCapital expenditures were $468 million for fiscal year 2021, an increase of $68 million compared to $400 million for fiscal year 2020. The increase in capital\nexpenditures was primarily due to the increased capital spending in the Flexibles segment.\nNet Cash Used in Financing Activities\nNet cash flows used in financing activities decreased by $57 million, or 5%, to $1,179 million for fiscal year 2021, from a $1,236 million outflow for fiscal year\n2020. This decrease was primarily due to lower share buyback payments and on-market purchases of own shares, partially offset by lower cash net debt\ndrawdowns.\nNet Debt\nWe borrow from financial institutions and debt investors in the form of bank overdrafts, bank loans, corporate bonds, unsecured notes, and commercial paper.\nWe have a mixture of fixed and floating interest rates and use interest rate swaps to provide further flexibility in managing the interest cost of borrowings.\nShort-term debt consists of bank debt with a duration of less than 12 months and bank overdrafts which are classified as current due to the short-term nature of\nthe borrowings, except where we have the ability and intent to refinance and as such extend the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_company_type",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission File Number 001-38932\nAMCOR PLC\n(Exact name of registrant as specified in its charter)\nJersey 98-1455367\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n83 Tower Road North\nWarmley, Bristol\n(Address of principal executive offices) United Kingdom BS30 8XP\n(Zip Code)\nRegistrant’s telephone number, including area code: +44 117 9753200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange\non which registered\nOrdinary Shares, par value $0.01 per share 1.125% Guaranteed Senior Notes Due 2027 AMCR AUKF/27 New York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_key_financials",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 12861m, gross profit 2732m, net income 951m",
      "golden_context": "Page 26:\n\nItem 7. - Management's Discussion and Analysis of Financial Condition and Results of Operations\nManagement’s Discussion and Analysis should be read in conjunction with the Consolidated Financial Statements and related Notes included in Item 8 of this\nAnnual Report on Form 10-K.\n%\nTwo Year Review of Results\n(in millions) Net sales 2021 2020\n$ 12,861 100.0 % $ 12,468 100.0 Cost of sales (10,129) (78.8) (9,932) (79.7)\nGross profit 2,732 21.2 2,536 20.3\nOperating expenses:\nSelling, general, and administrative expenses (1,292) (10.0) (1,385) (11.1)\nResearch and development expenses (100) (0.8) (97) (0.8)\nRestructuring and related expenses, net (94) (0.7) (115) (0.9)\nOther income, net 75 0.6 55 0.4\nOperating income 1,321 10.3 994 8.0\nInterest income 14 0.1 22 0.2\nInterest expense (153) (1.2) (207) (1.7)\nOther non-operating income, net 11 0.1 16 0.1\nIncome from continuing operations before income taxes and equity in income (loss) of affiliated\ncompanies 1,193 9.3 825 6.6\nIncome tax expense (261) (2.0) (187) (1.5)\nEquity in income (loss) of affiliated companies, net of tax 19 0.1 (14) (0.1)\nIncome from continuing operations 951 7.4 624 5.0\nIncome (loss) from discontinued operations, net of tax — — (8) (0.1)\nNet income $ 951 7.4 % $ 616 4.9 %\nNet income attributable to non-controlling interests (12) (0.1) (4) —\nNet income attributable to Amcor plc $ 939 7.3 % $ 612 4.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_revenue",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "net sales 12861",
      "golden_context": "Page 26:\n\nItem 7. - Management's Discussion and Analysis of Financial Condition and Results of Operations\nManagement’s Discussion and Analysis should be read in conjunction with the Consolidated Financial Statements and related Notes included in Item 8 of this\nAnnual Report on Form 10-K.\n%\nTwo Year Review of Results\n(in millions) Net sales 2021 2020\n$ 12,861 100.0 % $ 12,468 100.0 Cost of sales (10,129) (78.8) (9,932) (79.7)\nGross profit 2,732 21.2 2,536 20.3\nOperating expenses:\nSelling, general, and administrative expenses (1,292) (10.0) (1,385) (11.1)\nResearch and development expenses (100) (0.8) (97) (0.8)\nRestructuring and related expenses, net (94) (0.7) (115) (0.9)\nOther income, net 75 0.6 55 0.4\nOperating income 1,321 10.3 994 8.0\nInterest income 14 0.1 22 0.2\nInterest expense (153) (1.2) (207) (1.7)\nOther non-operating income, net 11 0.1 16 0.1\nIncome from continuing operations before income taxes and equity in income (loss) of affiliated\ncompanies 1,193 9.3 825 6.6\nIncome tax expense (261) (2.0) (187) (1.5)\nEquity in income (loss) of affiliated companies, net of tax 19 0.1 (14) (0.1)\nIncome from continuing operations 951 7.4 624 5.0\nIncome (loss) from discontinued operations, net of tax — — (8) (0.1)\nNet income $ 951 7.4 % $ 616 4.9 %\nNet income attributable to non-controlling interests (12) (0.1) (4) —\nNet income attributable to Amcor plc $ 939 7.3 % $ 612 4.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_revenue_growth",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales prior year 12468",
      "golden_context": "Page 26:\n\nItem 7. - Management's Discussion and Analysis of Financial Condition and Results of Operations\nManagement’s Discussion and Analysis should be read in conjunction with the Consolidated Financial Statements and related Notes included in Item 8 of this\nAnnual Report on Form 10-K.\n%\nTwo Year Review of Results\n(in millions) Net sales 2021 2020\n$ 12,861 100.0 % $ 12,468 100.0 Cost of sales (10,129) (78.8) (9,932) (79.7)\nGross profit 2,732 21.2 2,536 20.3\nOperating expenses:\nSelling, general, and administrative expenses (1,292) (10.0) (1,385) (11.1)\nResearch and development expenses (100) (0.8) (97) (0.8)\nRestructuring and related expenses, net (94) (0.7) (115) (0.9)\nOther income, net 75 0.6 55 0.4\nOperating income 1,321 10.3 994 8.0\nInterest income 14 0.1 22 0.2\nInterest expense (153) (1.2) (207) (1.7)\nOther non-operating income, net 11 0.1 16 0.1\nIncome from continuing operations before income taxes and equity in income (loss) of affiliated\ncompanies 1,193 9.3 825 6.6\nIncome tax expense (261) (2.0) (187) (1.5)\nEquity in income (loss) of affiliated companies, net of tax 19 0.1 (14) (0.1)\nIncome from continuing operations 951 7.4 624 5.0\nIncome (loss) from discontinued operations, net of tax — — (8) (0.1)\nNet income $ 951 7.4 % $ 616 4.9 %\nNet income attributable to non-controlling interests (12) (0.1) (4) —\nNet income attributable to Amcor plc $ 939 7.3 % $ 612 4.9 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000232_segments",
      "report_id": "ID_000232",
      "company_name": "Amcor",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Two reportable segments: Flexibles and Rigid Packaging",
      "golden_context": "Page 7:\n\n Information\nAccounting Standards Codification (\"ASC\") 280, \"Segment Reporting,\" establishes the standards for reporting information about segments in financial\nstatements. In applying the criteria set forth in ASC 280, we have determined we have two reportable segments, Flexibles and Rigid Packaging. The reportable\nsegments produce flexible packaging, rigid packaging, specialty cartons, and closure products, which are sold to customers participating in a range of attractive end\nuse areas throughout Europe, North America, Latin America, Africa, and the Asia Pacific regions. Refer to Note 20, \"Segments,\" of the notes to consolidated\nfinancial statements for financial information about reportable segments.\nFlexibles Segment\nThe Flexibles Segment develops and supplies flexible packaging globally. With approximately 39,000 employees at 174 significant manufacturing and support\nfacilities in 39 countries as of June 30, 2021, the Flexibles Segment is one of the world's largest suppliers of plastic, aluminum, and fiber based flexible packaging.\nIn fiscal year 2021, Flexibles accounted for approximately 78% of our consolidated net sales.\nRigid Packaging Segment\nThe Rigid Packaging Segment manufactures rigid packaging containers and related products in the Americas. As of June 30, 2021, the Rigid Packaging Segment\nemployed approximately 6,000 employees at 51 significant manufacturing and support facilities in 11 countries. In fiscal year 2021, Rigid Packaging accounted for\napproximately 22% of our consolidated net sales.\nMarketing, Distribution, and Competition\nOur sales are made through a variety of distribution channels, but primarily through our direct sales force. Sales offices and plants are located throughout\nEurope, North America, Latin America, Africa, and Asia-Pacific regions to provide prompt and economical service to thousands of customers. Our technically\ntrained sales force is supported by product development engineers, design technicians, field service technicians, and a customer service organization.\nWe did not have sales to a single customer that exceeded 10% of consolidated net sales for fiscal years 2021 and 2020. Sales to PepsiCo, and its subsidiaries,\naccounted for approximately 11% of our total net sales in fiscal year 2019. Business arrangements with PepsiCo are aggregated across a number of separate\ncontracts in disparate locations and any change in these business arrangements would typically occur over a period of time.\nThe major markets in which we sell our products historically have been, and continue to be, highly competitive. Areas of competition include service,\ninnovation, quality, and price. Competitors include AptarGroup, Inc., Ball Corporation, Berry Global Group, Inc, CCL Industries Inc., Crown Holdings, Inc.,\nGraphic Packaging Holding Company, Huhtamaki Oyj, International Paper Company, Mayr-Melnhof Karton AG, O-I Glass, Inc., Sealed Air Corporation, Silgan\nHoldings Inc., Sonoco Products Company, and WestRock Company, and a variety of privately held companies.\nWe consider ourselves to be a significant participant in the markets in which we operate; however, due to the diversity of our business, our precise competitive\nposition in these markets is not reasonably determinable.\nBacklog\nWorking capital fluctuates throughout the year in relation to business volume and other marketplace conditions. We maintain inventory levels that provide a\nreasonable balance between obtaining raw materials at favorable prices and maintaining adequate inventory levels to enable us to fulfill our commitment to\npromptly fill customer orders. Manufacturing backlogs are not a significant factor in the industries in which we operate.\nRaw Materials\nPolymer resins and films, paper, inks, adhesives, aluminum, and chemicals constitute the major raw materials we use. These are purchased from a variety of\nglobal industry sources, and we are not significantly dependent on any on",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_cash_flow",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "1.1bn free cash flow",
      "golden_context": "Page 4:\n\ntanding year of execution and growth\nFiscal 2022 was another outstanding year for Amcor.\nOur co-workers have continued to demonstrate remarkable\nperseverance and agility, executing well in a challenging\noperating environment that remains impacted by the\nlingering effects of the COVID-19 pandemic, severe\ndisruptions to global supply chains, persistent and rising\ninflation, and the Russia-Ukraine conflict.\nIn the fiscal year ended June 30, 2022 (FY22), Amcor\ndelivered another year of strong results. Organic sales\ngrowth of 4% marked the third consecutive year of\naccelerating top line growth, which translated into earnings\nper share growth of 11% on a comparable constant\ncurrency basis. The business picked up momentum through\nthe year, with the fourth quarter being the strongest from\nboth a sales and a profit-growth standpoint. During the\nyear, we were also successful in passing through $1.5 billion\nin costs related to higher raw materials pricing, as well as\nother inflationary costs. As we enter our 2023 fiscal year,\nwe are well positioned to maintain this momentum.\nStrong free cash flow of $1.1 billion was another highlight\nof our financial 2022 year. This enabled us to increase\nour cash returns to shareholders to more than $1.3 billion\ndollars via $600 million of share repurchases and a\ncompelling and growing annual dividend.\nA winning strategy\nOur dedicated employees are central to our success, and\nwe believe that having the best talent and capabilities\nin the industry will ensure we prosper now and in the\nfuture. For many years we have made the well-being and\ndevelopment of our 44,000 global employees our number\none objective, and this will continue to be a critical part of\nour overall strategy.\nOur financial performance continues to reflect Amcor’s\nstrong foundation and the ability of our teams to\nconsistently deliver against our strategy. Amcor has\nleadership positions in most of our chosen primary\npackaging segments and over 95% of our sales are in\nconsumer staples and healthcare end markets. We have\nabsolute and relative scale advantages in all key regions,\nindustry-leading commercial and innovation capabilities\nand a proven track record through multiple economic\ncycles of delivering margin expansion, earnings growth,\nand significant free cash flow.\nA key driver of value for shareholders will always be\nthe underlying organic growth of the business. We have\ncontinually strengthened the base business and have built\nsustainable organic sales and profit growth momentum\nover the last several years. The drivers of this growth\ninclude high-growth, high-value priority segments, a\nleading and well diversified emerging markets portfolio\nand the ability to leverage our strength in innovation.\nWe are excited by the broad range of opportunities we\nsee in these areas and, to help maintain the momentum\nwe have built, we are stepping up our investments for\ngrowth. For example, during FY22 we opened a state-\nof-the-art healthcare packaging facility in Singapore to\nserve accelerating demand in the Asia-Pacific region and\nalso commenced a multimillion-dollar investment in new\nthermoforming capabilities for medical packaging in our\nexisting plant in Ireland.\nIn recent years, we have invested in establishing best-\nin-class research and development (R&D) capabilities.\nWe now offer customers a global network of world-class\ninnovation centers with unique features and services\nthat enable customers to collaborate with our packaging\nexperts and make innovative and value-creating ideas\na reality. But we remain hungry and open minded in\nour search for disruptive innovative ideas beyond our\nown in-house R&D. In FY22, we deployed seed capital\ninto promising start-up players ePac and PragmatIC\nSemiconductor, which has enabled us to gather further\ninsights and traction into new technologies and\nbusiness models.\n\nPage 14:\n\nAmcor fiscal 2022 operating review\nHighlights\n- Net sales of $14,544 million, up 13%;\n- Net sales of $14,544 million, up 13%;\n- GAAP Net Income of $805 million; GAAP earnings\nper share (EPS) of 52.9 cps;\nper share (EPS) of 52.9 cps;\n- Adjusted EPS of 80.5 cps, up 11% on a comparable\nconstant currency basis, at the top end of guidance range;\nconstant currency basis, at the top end of guidance range;\n- Adjusted EBIT of $1,701 million, up 7% on a comparable\nconstant currency basis;\nconstant currency basis;\n- Adjusted Free Cash Flow of $1,066 million in line\nwith guidance;\nwith guidance;\n- Significant increase in cash returns to shareholders: annual\ndividend increased to 48.0 cents per share; $600 million\nof shares repurchased (approximately 3% of outstanding\nshares); and\nshares); and\n- Fiscal 2023 outlook: Adjusted EPS growth on a comparable\nconstant currency basis of 3-8% including an adverse\nimpact of approximately 4% from higher interest expense\n(adjusted EPS of 80-84 cents per share on a reported\nbasis). Adjusted Free Cash Flow of $1.0-$1.1 billion and\napproximately $400 million of share repurchases.\napproximately $400 million of share repurchases.\nKey Financials1\nTwelve months ended June 30\nGAAP results 2021 $ million 2022 $ million\nNet sales 2 14,544\nNet income 939 0\nEPS (diluted US cents) 02 2\nTwelve months ended June 30\nAdjusted non-GAAP results 2021 $ million 2022 $ million Reported %\nComparable\nconstant currency %\nNet sales2 2 14,544 13 4\nEBITDA 202 2 4 7\nEBIT 2 0 5 7\nNet income 1,158 22 6 8\nEPS (diluted US cents) 74.4 0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_company_type",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 18:\n\n1\nIED SAES\nSECRIIES AD ECAE COISSIO\nWashington, DC 20\nFOR 10-\n☒ AAL REPOR PRSA O SECIO 13 OR 1(d) OF E SECRIIES ECAE AC OF 13\nFor the fiscal year ended June 30, 2022\nor\n☐ RASIIO REPOR PRSA O SECIO 13 OR 1(d) OF E SECRIIES ECAE AC OF 13\nFor the transition period from to\nCommission File umber 001-332\nACOR PLC\n(Eact name of registrant as specified in its charter)\nJersey -13\n(State or other urisdiction of incorporation or organiation) (I..S. Employer Identification o.)\n3 ower Road orth\nWarmley, Bristol\nnited ingdom BS30 P\n(Address of principal eecutive offices) (ip Code)\negistrants telephone number including area code 11 3200\nSecurities registered pursuant to Section 12(b) of the Act\nitle of each class rading symbol(s) ame of each echange\non which registered\nOrdinary Shares par value $0.01 per share AC e or Stoc Echange\n1.125 uaranteed Senior otes ue 2027 AF27 e or Stoc Echange",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_key_financials",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "organic sales growth 4%, EPS growth 11%, free cash flow 1.1bn, net income 805m, EPS 52.9 cps",
      "golden_context": "Page 14:\n\n\nAmcor fiscal 2022 operating review\nHighlights\n- Net sales of $14,544 million, up 13%;\n- GAAP Net Income of $805 million; GAAP earnings\nper share (EPS) of 52.9 cps;\n- Adjusted EPS of 80.5 cps, up 11% on a comparable\nconstant currency basis, at the top end of guidance range;\n- Adjusted EBIT of $1,701 million, up 7% on a comparable\nconstant currency basis;\n- Adjusted Free Cash Flow of $1,066 million in line\nwith guidance;\n- Significant increase in cash returns to shareholders: annual\ndividend increased to 48.0 cents per share; $600 million\nof shares repurchased (approximately 3% of outstanding\nshares); and\n- Fiscal 2023 outlook: Adjusted EPS growth on a comparable\nconstant currency basis of 3-8% including an adverse\nimpact of approximately 4% from higher interest expense\n(adjusted EPS of 80-84 cents per share on a reported\nbasis). Adjusted Free Cash Flow of $1.0-$1.1 billion and\napproximately $400 million of share repurchases.\nKey Financials1\nTwelve months ended June 30\nGAAP results 2021 $ million 2022 $ million\nNet sales 2 14,544\nNet income 939 0\nEPS (diluted US cents) 02 2\nTwelve months ended June 30\n\n\n\nPage 4:\n\ntanding year of execution and growth\nFiscal 2022 was another outstanding year for Amcor.\nOur co-workers have continued to demonstrate remarkable\nperseverance and agility, executing well in a challenging\noperating environment that remains impacted by the\nlingering effects of the COVID-19 pandemic, severe\ndisruptions to global supply chains, persistent and rising\ninflation, and the Russia-Ukraine conflict.\nIn the fiscal year ended June 30, 2022 (FY22), Amcor\ndelivered another year of strong results. Organic sales\ngrowth of 4% marked the third consecutive year of\naccelerating top line growth, which translated into earnings\nper share growth of 11% on a comparable constant\ncurrency basis. The business picked up momentum through\nthe year, with the fourth quarter being the strongest from\nboth a sales and a profit-growth standpoint. During the\nyear, we were also successful in passing through $1.5 billion\nin costs related to higher raw materials pricing, as well as\nother inflationary costs. As we enter our 2023 fiscal year,\nwe are well positioned to maintain this momentum.\nStrong free cash flow of $1.1 billion was another highlight\nof our financial 2022 year. This enabled us to increase\nour cash returns to shareholders to more than $1.3 billion\ndollars via $600 million of share repurchases and a\ncompelling and growing annual dividend.\nA winning strategy\nOur dedicated employees are central to our success, and\nwe believe that having the best talent and capabilities\nin the industry will ensure we prosper now and in the\nfuture. For many years we have made the well-being and\ndevelopment of our 44,000 global employees our number\none objective, and this will continue to be a critical part of\nour overall strategy.\nOur financial performance continues to reflect Amcor’s\nstrong foundation and the ability of our teams to\nconsistently deliver against our strategy. Amcor has\nleadership positions in most of our chosen primary\npackaging segments and over 95% of our sales are in\nconsumer staples and healthcare end markets. We have\nabsolute and relative scale advantages in all key regions,\nindustry-leading commercial and innovation capabilities\nand a proven track record through multiple economic\ncycles of delivering margin expansion, earnings growth,\nand significant free cash flow.\nA key driver of value for shareholders will always be\nthe underlying organic growth of the business. We have\ncontinually strengthened the base business and have built\nsustainable organic sales and profit growth momentum\nover the last several years. The drivers of this growth\ninclude high-growth, high-value priority segments, a\nleading and well diversified emerging markets portfolio\nand the ability to leverage our strength in innovation.\nWe are excited by the broad range of opportunities we\nsee in these areas and, to help maintain the momentum\nwe have built, we are stepping up our investments for\ngrowth. For example, during FY22 we opened a state-\nof-the-art healthcare packaging facility in Singapore to\nserve accelerating demand in the Asia-Pacific region and\nalso commenced a multimillion-dollar investment in new\nthermoforming capabilities for medical packaging in our\nexisting plant in Ireland.\nIn recent years, we have invested in establishing best-\nin-class research and development (R&D) capabilities.\nWe now offer customers a global network of world-class\ninnovation centers with unique features and services\nthat enable customers to collaborate with our packaging\nexperts and make innovative and value-creating ideas\na reality. But we remain hungry and open minded in\nour search for disruptive innovative ideas beyond our\nown in-house R&D. In FY22, we deployed seed capital\ninto promising start-up players ePac and PragmatIC\nSemiconductor, which has enabled us to gather further\ninsights and traction into new technologies and\nbusiness models.\n\nPage 14:\n\nAmcor fiscal 2022 operating review\nHighlights\n- Net sales of $14,544 million, up 13%;\n- Net sales of $14,544 million, up 13%;\n- GAAP Net Income of $805 million; GAAP earnings\nper share (EPS) of 52.9 cps;\nper share (EPS) of 52.9 cps;\n- Adjusted EPS of 80.5 cps, up 11% on a comparable\nconstant currency basis, at the top end of guidance range;\nconstant currency basis, at the top end of guidance range;\n- Adjusted EBIT of $1,701 million, up 7% on a comparable\nconstant currency basis;\nconstant currency basis;\n- Adjusted Free Cash Flow of $1,066 million in line\nwith guidance;\nwith guidance;\n- Significant increase in cash returns to shareholders: annual\ndividend increased to 48.0 cents per share; $600 million\nof shares repurchased (approximately 3% of outstanding\nshares); and\nshares); and\n- Fiscal 2023 outlook: Adjusted EPS growth on a comparable\nconstant currency basis of 3-8% including an adverse\nimpact of approximately 4% from higher interest expense\n(adjusted EPS of 80-84 cents per share on a reported\nbasis). Adjusted Free Cash Flow of $1.0-$1.1 billion and\napproximately $400 million of share repurchases.\napproximately $400 million of share repurchases.\nKey Financials1\nTwelve months ended June 30\nGAAP results 2021 $ million 2022 $ million\nNet sales 2 14,544\nNet income 939 0\nEPS (diluted US cents) 02 2\nTwelve months ended June 30\nAdjusted non-GAAP results 2021 $ million 2022 $ million Reported %\nComparable\nconstant currency %\nNet sales2 2 14,544 13 4\nEBITDA 202 2 4 7\nEBIT 2 0 5 7\nNet income 1,158 22 6 8\nEPS (diluted US cents) 74.4 0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_revenue",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "14544m net sales",
      "golden_context": "Page 4:\n\ntanding year of execution and growth\nFiscal 2022 was another outstanding year for Amcor.\nOur co-workers have continued to demonstrate remarkable\nperseverance and agility, executing well in a challenging\noperating environment that remains impacted by the\nlingering effects of the COVID-19 pandemic, severe\ndisruptions to global supply chains, persistent and rising\ninflation, and the Russia-Ukraine conflict.\nIn the fiscal year ended June 30, 2022 (FY22), Amcor\ndelivered another year of strong results. Organic sales\ngrowth of 4% marked the third consecutive year of\naccelerating top line growth, which translated into earnings\nper share growth of 11% on a comparable constant\ncurrency basis. The business picked up momentum through\nthe year, with the fourth quarter being the strongest from\nboth a sales and a profit-growth standpoint. During the\nyear, we were also successful in passing through $1.5 billion\nin costs related to higher raw materials pricing, as well as\nother inflationary costs. As we enter our 2023 fiscal year,\nwe are well positioned to maintain this momentum.\nStrong free cash flow of $1.1 billion was another highlight\nof our financial 2022 year. This enabled us to increase\nour cash returns to shareholders to more than $1.3 billion\ndollars via $600 million of share repurchases and a\ncompelling and growing annual dividend.\nA winning strategy\nOur dedicated employees are central to our success, and\nwe believe that having the best talent and capabilities\nin the industry will ensure we prosper now and in the\nfuture. For many years we have made the well-being and\ndevelopment of our 44,000 global employees our number\none objective, and this will continue to be a critical part of\nour overall strategy.\nOur financial performance continues to reflect Amcor’s\nstrong foundation and the ability of our teams to\nconsistently deliver against our strategy. Amcor has\nleadership positions in most of our chosen primary\npackaging segments and over 95% of our sales are in\nconsumer staples and healthcare end markets. We have\nabsolute and relative scale advantages in all key regions,\nindustry-leading commercial and innovation capabilities\nand a proven track record through multiple economic\ncycles of delivering margin expansion, earnings growth,\nand significant free cash flow.\nA key driver of value for shareholders will always be\nthe underlying organic growth of the business. We have\ncontinually strengthened the base business and have built\nsustainable organic sales and profit growth momentum\nover the last several years. The drivers of this growth\ninclude high-growth, high-value priority segments, a\nleading and well diversified emerging markets portfolio\nand the ability to leverage our strength in innovation.\nWe are excited by the broad range of opportunities we\nsee in these areas and, to help maintain the momentum\nwe have built, we are stepping up our investments for\ngrowth. For example, during FY22 we opened a state-\nof-the-art healthcare packaging facility in Singapore to\nserve accelerating demand in the Asia-Pacific region and\nalso commenced a multimillion-dollar investment in new\nthermoforming capabilities for medical packaging in our\nexisting plant in Ireland.\nIn recent years, we have invested in establishing best-\nin-class research and development (R&D) capabilities.\nWe now offer customers a global network of world-class\ninnovation centers with unique features and services\nthat enable customers to collaborate with our packaging\nexperts and make innovative and value-creating ideas\na reality. But we remain hungry and open minded in\nour search for disruptive innovative ideas beyond our\nown in-house R&D. In FY22, we deployed seed capital\ninto promising start-up players ePac and PragmatIC\nSemiconductor, which has enabled us to gather further\ninsights and traction into new technologies and\nbusiness models.\n\nPage 14:\n\nAmcor fiscal 2022 operating review\nHighlights\n- Net sales of $14,544 million, up 13%;\n- Net sales of $14,544 million, up 13%;\n- GAAP Net Income of $805 million; GAAP earnings\nper share (EPS) of 52.9 cps;\nper share (EPS) of 52.9 cps;\n- Adjusted EPS of 80.5 cps, up 11% on a comparable\nconstant currency basis, at the top end of guidance range;\nconstant currency basis, at the top end of guidance range;\n- Adjusted EBIT of $1,701 million, up 7% on a comparable\nconstant currency basis;\nconstant currency basis;\n- Adjusted Free Cash Flow of $1,066 million in line\nwith guidance;\nwith guidance;\n- Significant increase in cash returns to shareholders: annual\ndividend increased to 48.0 cents per share; $600 million\nof shares repurchased (approximately 3% of outstanding\nshares); and\nshares); and\n- Fiscal 2023 outlook: Adjusted EPS growth on a comparable\nconstant currency basis of 3-8% including an adverse\nimpact of approximately 4% from higher interest expense\n(adjusted EPS of 80-84 cents per share on a reported\nbasis). Adjusted Free Cash Flow of $1.0-$1.1 billion and\napproximately $400 million of share repurchases.\napproximately $400 million of share repurchases.\nKey Financials1\nTwelve months ended June 30\nGAAP results 2021 $ million 2022 $ million\nNet sales 2 14,544\nNet income 939 0\nEPS (diluted US cents) 02 2\nTwelve months ended June 30\nAdjusted non-GAAP results 2021 $ million 2022 $ million Reported %\nComparable\nconstant currency %\nNet sales2 2 14,544 13 4\nEBITDA 202 2 4 7\nEBIT 2 0 5 7\nNet income 1,158 22 6 8\nEPS (diluted US cents) 74.4 0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_revenue_growth",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales prior year 12861m, current year 14544m",
      "golden_context": "Page 4:\n\ntanding year of execution and growth\nFiscal 2022 was another outstanding year for Amcor.\nOur co-workers have continued to demonstrate remarkable\nperseverance and agility, executing well in a challenging\noperating environment that remains impacted by the\nlingering effects of the COVID-19 pandemic, severe\ndisruptions to global supply chains, persistent and rising\ninflation, and the Russia-Ukraine conflict.\nIn the fiscal year ended June 30, 2022 (FY22), Amcor\ndelivered another year of strong results. Organic sales\ngrowth of 4% marked the third consecutive year of\naccelerating top line growth, which translated into earnings\nper share growth of 11% on a comparable constant\ncurrency basis. The business picked up momentum through\nthe year, with the fourth quarter being the strongest from\nboth a sales and a profit-growth standpoint. During the\nyear, we were also successful in passing through $1.5 billion\nin costs related to higher raw materials pricing, as well as\nother inflationary costs. As we enter our 2023 fiscal year,\nwe are well positioned to maintain this momentum.\nStrong free cash flow of $1.1 billion was another highlight\nof our financial 2022 year. This enabled us to increase\nour cash returns to shareholders to more than $1.3 billion\ndollars via $600 million of share repurchases and a\ncompelling and growing annual dividend.\nA winning strategy\nOur dedicated employees are central to our success, and\nwe believe that having the best talent and capabilities\nin the industry will ensure we prosper now and in the\nfuture. For many years we have made the well-being and\ndevelopment of our 44,000 global employees our number\none objective, and this will continue to be a critical part of\nour overall strategy.\nOur financial performance continues to reflect Amcor’s\nstrong foundation and the ability of our teams to\nconsistently deliver against our strategy. Amcor has\nleadership positions in most of our chosen primary\npackaging segments and over 95% of our sales are in\nconsumer staples and healthcare end markets. We have\nabsolute and relative scale advantages in all key regions,\nindustry-leading commercial and innovation capabilities\nand a proven track record through multiple economic\ncycles of delivering margin expansion, earnings growth,\nand significant free cash flow.\nA key driver of value for shareholders will always be\nthe underlying organic growth of the business. We have\ncontinually strengthened the base business and have built\nsustainable organic sales and profit growth momentum\nover the last several years. The drivers of this growth\ninclude high-growth, high-value priority segments, a\nleading and well diversified emerging markets portfolio\nand the ability to leverage our strength in innovation.\nWe are excited by the broad range of opportunities we\nsee in these areas and, to help maintain the momentum\nwe have built, we are stepping up our investments for\ngrowth. For example, during FY22 we opened a state-\nof-the-art healthcare packaging facility in Singapore to\nserve accelerating demand in the Asia-Pacific region and\nalso commenced a multimillion-dollar investment in new\nthermoforming capabilities for medical packaging in our\nexisting plant in Ireland.\nIn recent years, we have invested in establishing best-\nin-class research and development (R&D) capabilities.\nWe now offer customers a global network of world-class\ninnovation centers with unique features and services\nthat enable customers to collaborate with our packaging\nexperts and make innovative and value-creating ideas\na reality. But we remain hungry and open minded in\nour search for disruptive innovative ideas beyond our\nown in-house R&D. In FY22, we deployed seed capital\ninto promising start-up players ePac and PragmatIC\nSemiconductor, which has enabled us to gather further\ninsights and traction into new technologies and\nbusiness models.\n\nPage 14:\n\nAmcor fiscal 2022 operating review\nHighlights\n- Net sales of $14,544 million, up 13%;\n- Net sales of $14,544 million, up 13%;\n- GAAP Net Income of $805 million; GAAP earnings\nper share (EPS) of 52.9 cps;\nper share (EPS) of 52.9 cps;\n- Adjusted EPS of 80.5 cps, up 11% on a comparable\nconstant currency basis, at the top end of guidance range;\nconstant currency basis, at the top end of guidance range;\n- Adjusted EBIT of $1,701 million, up 7% on a comparable\nconstant currency basis;\nconstant currency basis;\n- Adjusted Free Cash Flow of $1,066 million in line\nwith guidance;\nwith guidance;\n- Significant increase in cash returns to shareholders: annual\ndividend increased to 48.0 cents per share; $600 million\nof shares repurchased (approximately 3% of outstanding\nshares); and\nshares); and\n- Fiscal 2023 outlook: Adjusted EPS growth on a comparable\nconstant currency basis of 3-8% including an adverse\nimpact of approximately 4% from higher interest expense\n(adjusted EPS of 80-84 cents per share on a reported\nbasis). Adjusted Free Cash Flow of $1.0-$1.1 billion and\napproximately $400 million of share repurchases.\napproximately $400 million of share repurchases.\nKey Financials1\nTwelve months ended June 30\nGAAP results 2021 $ million 2022 $ million\nNet sales 2 14,544\nNet income 939 0\nEPS (diluted US cents) 02 2\nTwelve months ended June 30\nAdjusted non-GAAP results 2021 $ million 2022 $ million Reported %\nComparable\nconstant currency %\nNet sales2 2 14,544 13 4\nEBITDA 202 2 4 7\nEBIT 2 0 5 7\nNet income 1,158 22 6 8\nEPS (diluted US cents) 74.4 0 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000233_segments",
      "report_id": "ID_000233",
      "company_name": "Amcor",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Flexibles and Rigid Packaging",
      "golden_context": "Page 24:\n\nSegment Information\nAccounting Standards Codification (\"ASC\") 280 \"Segment eporting\" establishes the standards for reporting\ninformation about segments in financial statements. In applying the criteria set forth in ASC 280 e have determined e have\nto reportable segments Fleibles and igid acaging. he reportable segments produce fleible pacaging rigid pacaging\nspecialty cartons and closure products hich are sold to customers participating in a range of attractive end use areas\nthroughout Europe orth America Latin America Africa and the Asia acific regions. efer to ote 21 \"Segments\" of the\nnotes to consolidated financial statements for financial information about reportable segments.\nexies Seme\nOur Fleibles Segment develops and supplies fleible pacaging globally. ith approimately 37000 employees at\n16 significant manufacturing and support facilities in 3 countries as of une 30 2022 the Fleibles Segment is one of the\norlds largest suppliers of plastic aluminum and fiber based fleible pacaging. In fiscal year 2022 Fleibles accounted for\napproimately 77 of consolidated net sales.\nRii aai Seme\nOur igid acaging Segment manufactures rigid pacaging containers and related products in the Americas. As of\nune 30 2022 the igid acaging Segment employed approimately 6000 employees at 52 significant manufacturing and\nsupport facilities in 11 countries. In fiscal year 2022 igid acaging accounted for approimately 23 of consolidated net\nsales.\nareting, Distribution, and Competition\nOur sales are made through a variety of distribution channels but primarily through our direct sales force. Sales offices\nand plants are located throughout Europe orth America Latin America Africa and Asiaacific regions to provide prompt\nand economical service to thousands of customers. Our technically trained sales force is supported by product development\nengineers design technicians field service technicians and customer service teams.\ne did not have sales to a single customer that eceeded 10 of consolidated net sales in the last three fiscal years.\nhe maor marets in hich e sell our products historically have been and continue to be highly competitive. Areas\nof competition include service innovation quality and price. Competitors include Aptarroup Inc. Ball Corporation Berry\nlobal roup Inc CCL Industries Inc. Cron oldings Inc. raphic acaging olding Company uhtamai Oy\nInternational aper Company ayrelnhof arton A OI lass Inc. Sealed Air Corporation Silgan oldings Inc.\nSonoco roducts Company and estoc Company and a variety of privately held companies.\ne consider ourselves to be a significant participant in the marets in hich e operate hoever due to the diversity\nof our business our precise competitive position in these marets is not reasonably determinable.\nBaclog\noring capital fluctuates throughout the year in relation to business volume and other maretplace conditions. e\nmaintain inventory levels that provide a reasonable balance beteen obtaining ra materials at favorable prices and\nmaintaining adequate inventory levels to enable us to fulfill our commitment to promptly fill customer orders. anufacturing\nbaclogs are not a significant factor in the marets in hich e operate.\nRaw aterials\nolymer resins and films paper ins adhesives aluminum and chemicals constitute the maor ra materials e use.\nhese are purchased from a variety of global industry sources and e are not significantly dependent on any one supplier for\nour ra materials. hile persistent industryide shortages of certain ra materials have continued to occur since the second\nhalf of fiscal 2021 e have been able to manage supply disruptions ith no material impact by oring closely ith our\nsuppliers and customers. Supply shortages can lead and have in the past led to increased ra material price volatility. Increases\nin the price of ra materials are generally able to be passed on to customers through contractual price mechanisms over time\nand other means. e epect supply disruption and price volatility to continue into fiscal year 2023 and ill continue to or\nclosely ith our suppliers and customers in an effort to minimie the impact on our operations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_cash_flow",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow 848m",
      "golden_context": "Page 12:\n\nAmcor fiscal 2023 operating review\nHighlights\n-\n-\n-\n_x0007_ Net sales of $14,694 million, in line with the prior year\non a comparable constant currency basis;\n_x0007_ GAAP Net Income of $1,048 million; GAAP diluted\nearnings per share (EPS) of 70.5 cps;\n_x0007_ Adjusted EPS of 73.3 cps and Adjusted Free Cash Flow\nof $848 million, Adjusted EBIT of $1,608 million;\n-\n-\n_x0007_ Strong total cash returns to shareholders of $1.2 billion:\nannual dividend increased to 49.0 cents per share; $431\nmillion of shares repurchased (approximately 3% of\noutstanding shares); and\n_x0007_ Fiscal 2024 outlook: Adjusted EPS of 67-71 cents per share.\nAdjusted Free Cash Flow of $850-950 million.\nKey Financials1\nGAAP results Twelve months ended June 30\n2022 $ million 2023 $ million\nNet sales 14,544 14,694\nNet income 805 1,048\nEPS (diluted US cents) 52.9 70.5\nTwelve months ended June 30\nAdjusted non-GAAP results 2022 $ million 2023 $ million Reported ∆%\nComparable\nconstant currency ∆%\nNet sales 14,544 14,694 1 –\nEBITDA 2,117 2,018 (5) 1\nEBIT\n1,701 1,608 (5) 1\nNet income 1,224 1,089 (11) (4)\nEPS (diluted US cents) 80.5 73.3 (9) (2)\nFree Cash Flow 1,066 848\n(1) Adjusted non-GAAP results exclude items which are not considered representative of ongoing operations. Comparable constant currency ∆% excludes the impact of movements\nin foreign exchange rates and items affecting comparability. Further details related to non-GAAP measures and reconciliations to GAAP measures can be found under “Presentation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_company_type",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 16:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission File Number 001-38932\nAMCOR PLC\n(Exact name of registrant as specified in its charter)\nJersey 98-1455367\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n83 Tower Road North\nWarmley, Bristol\nUnited Kingdom BS30 8XP\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: +44 117 9753200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange\non which registered\nOrdinary Shares, par value $0.01 per share AMCR New York Stock Exchange\n1.125% Guaranteed Senior Notes Due 2027 AUKF/27 New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_key_financials",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "adjusted free cash flow of 848m, net sales 14694m, net income 1048m, EPS diluted 70.5",
      "golden_context": "Page 4:\n\nDear shareholders,\nFiscal 2023 was a challenging year; it tested the resilience\nand adaptability that define Amcor and highlighted the\ndedication of our teams to our winning aspiration to be\nTHE leading global packaging company. The hallmark of\na strong company lies in its ability to navigate uncertainty\nwhile continuing to deliver value. Our fiscal 2023 year\nlargely reflected the global economy, with strong first half\nperformance offset by a challenging second half as market\nconditions softened considerably. Across the organization,\nwe maintained our focus on delivering innovative packaging\nsolutions while taking actions to navigate persistent\nheadwinds caused by inflation, softening and more volatile\nconsumer demand and destocking through the supply chain.\nOur efforts of course went well beyond the short-term\nperformance as we continued building a stronger company\nwith a bright future for our people and our stakeholders.\nLet us share some of our many accomplishments:\n- Safety has long been a core value at Amcor. From a\nstatistical perspective, fiscal 2023 was our safest on record,\nwith a 31% reduction in injuries globally and 69% of our\nsites remaining injury-free for at least 12 months. While we\nare pleased with these results, ultimately, it’s not just the\nnumber of injuries we’re focused on but also the severity of\nthe injuries that do occur. Tragically, in June a contractor’s\nemployee lost his life at our Pondicherry site in India after\nfalling from a roof. We immediately initiated a detailed\ninvestigation and are deploying the learnings across all\nAmcor sites with the goal of eliminating the risk of similar\naccidents in the future. We are relentlessly focused on safety\nglobally and this tragic incident is a stark reminder of the\nimportance of those efforts.\n- Financially, organic sales were in-line with last year,\nreflecting the challenging market dynamics faced by the\nconsumer and packaging industries broadly. However, our\nproactive and decisive cost and price actions to effectively\nmanage the areas under our control resulted in a modest\nincrease in profit for the year, as adjusted EBIT grew by 1%\non a comparable constant currency basis, and we delivered\nsolid adjusted free cash flow of $848 million. Through the\nyear, we stepped up the intensity of our cost reduction\nefforts to drive productivity benefits, while investing in\nstructural initiatives that we expect will increase operating\nleverage and deliver meaningful cost savings in fiscal 2024\nand 2025.\n- We remained resolute in our commitment to shareholder\nreturns, increasing our industry-leading dividend and\nrepurchasing more than $400 million in Amcor shares –\nabout 3% of total shares outstanding – resulting in a total\nreturn of $1.2 billion in cash to shareholders in fiscal 2023.\nSince 2020, we’ve repurchased approximately 11% of our\noutstanding shares while maintaining our investment grade\nbalance sheet.\n- Throughout fiscal 2023, we continued investing in future\ngrowth, including in high value healthcare, protein, pet care,\npremium coffee and hot fill beverage categories and we\nfurther strengthened our leading and diversified emerging\nmarket portfolio. Our organic investment was complemented\nby an active M&A and corporate venturing agenda. During\nthe fiscal year, we acquired a world-class scalable flexible\npackaging plant in the Czech Republic and strengthened our\nleadership position in the Asia Pacific healthcare category\nwith the acquisition of Shanghai-based MDK. And we secured\nAmcor’s position as a leading provider of equipment, films and\ntechnical service for the high value fresh and processed meat\ncategory with the addition of Moda Systems.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_revenue",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "net sales 14694m",
      "golden_context": "Page 12:\n\nAmcor fiscal 2023 operating review\nHighlights\n-\n-\n-\n_x0007_ Net sales of $14,694 million, in line with the prior year\non a comparable constant currency basis;\n_x0007_ GAAP Net Income of $1,048 million; GAAP diluted\nearnings per share (EPS) of 70.5 cps;\n_x0007_ Adjusted EPS of 73.3 cps and Adjusted Free Cash Flow\nof $848 million, Adjusted EBIT of $1,608 million;\n-\n-\n_x0007_ Strong total cash returns to shareholders of $1.2 billion:\nannual dividend increased to 49.0 cents per share; $431\nmillion of shares repurchased (approximately 3% of\noutstanding shares); and\n_x0007_ Fiscal 2024 outlook: Adjusted EPS of 67-71 cents per share.\nAdjusted Free Cash Flow of $850-950 million.\nKey Financials1\nGAAP results Twelve months ended June 30\n2022 $ million 2023 $ million\nNet sales 14,544 14,694\nNet income 805 1,048\nEPS (diluted US cents) 52.9 70.5\nTwelve months ended June 30\nAdjusted non-GAAP results 2022 $ million 2023 $ million Reported ∆%\nComparable\nconstant currency ∆%\nNet sales 14,544 14,694 1 –\nEBITDA 2,117 2,018 (5) 1\nEBIT\n1,701 1,608 (5) 1\nNet income 1,224 1,089 (11) (4)\nEPS (diluted US cents) 80.5 73.3 (9) (2)\nFree Cash Flow 1,066 848\n(1) Adjusted non-GAAP results exclude items which are not considered representative of ongoing operations. Comparable constant currency ∆% excludes the impact of movements\nin foreign exchange rates and items affecting comparability. Further details related to non-GAAP measures and reconciliations to GAAP measures can be found under “Presentation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_revenue_growth",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "prior year 14544m, current year 14694, 1% growth",
      "golden_context": "Page 12:\n\nAmcor fiscal 2023 operating review\nHighlights\n-\n-\n-\n_x0007_ Net sales of $14,694 million, in line with the prior year\non a comparable constant currency basis;\n_x0007_ GAAP Net Income of $1,048 million; GAAP diluted\nearnings per share (EPS) of 70.5 cps;\n_x0007_ Adjusted EPS of 73.3 cps and Adjusted Free Cash Flow\nof $848 million, Adjusted EBIT of $1,608 million;\n-\n-\n_x0007_ Strong total cash returns to shareholders of $1.2 billion:\nannual dividend increased to 49.0 cents per share; $431\nmillion of shares repurchased (approximately 3% of\noutstanding shares); and\n_x0007_ Fiscal 2024 outlook: Adjusted EPS of 67-71 cents per share.\nAdjusted Free Cash Flow of $850-950 million.\nKey Financials1\nGAAP results Twelve months ended June 30\n2022 $ million 2023 $ million\nNet sales 14,544 14,694\nNet income 805 1,048\nEPS (diluted US cents) 52.9 70.5\nTwelve months ended June 30\nAdjusted non-GAAP results 2022 $ million 2023 $ million Reported ∆%\nComparable\nconstant currency ∆%\nNet sales 14,544 14,694 1 –\nEBITDA 2,117 2,018 (5) 1\nEBIT\n1,701 1,608 (5) 1\nNet income 1,224 1,089 (11) (4)\nEPS (diluted US cents) 80.5 73.3 (9) (2)\nFree Cash Flow 1,066 848\n(1) Adjusted non-GAAP results exclude items which are not considered representative of ongoing operations. Comparable constant currency ∆% excludes the impact of movements\nin foreign exchange rates and items affecting comparability. Further details related to non-GAAP measures and reconciliations to GAAP measures can be found under “Presentation",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000234_segments",
      "report_id": "ID_000234",
      "company_name": "Amcor",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Flexibles and Rigid Packaging",
      "golden_context": "Page 22:\n\nSegment Information\nAccounting Standards Codification (\"ASC\") 280, \"Segment Reporting,\" establishes the standards for reporting\ninformation about segments in financial statements. In applying the criteria set forth in ASC 280, we have determined we have\ntwo reportable segments, Flexibles and Rigid Packaging. The reportable segments produce flexible packaging, rigid packaging,\nspecialty cartons, and closure products, which are sold to customers participating in a range of attractive end use areas\nthroughout Europe, North America, Latin America, Africa, and the Asia Pacific regions. Refer to Note 21, \"Segments,\" of the\nnotes to consolidated financial statements for financial information about reportable segments.\nFlexibles Segment\nOur Flexibles Segment develops and supplies flexible packaging globally. With approximately 35,000 employees at\n166 significant manufacturing and support facilities in 37 countries as of June 30, 2023, the Flexibles Segment is one of the\nworld's largest suppliers of plastic, aluminum, and fiber based flexible packaging. In fiscal year 2023, Flexibles accounted for\napproximately 76% of consolidated net sales.\nRigid Packaging Segment\nOur Rigid Packaging Segment manufactures rigid packaging containers and related products in the Americas. As of\nJune 30, 2023, the Rigid Packaging Segment employed approximately 5,000 employees at 52 significant manufacturing and\nsupport facilities in 11 countries. In fiscal year 2023, Rigid Packaging accounted for approximately 24% of consolidated net\nsales.\nMarketing, Distribution, and Competition\nOur sales are made through a variety of distribution channels, but primarily through our direct sales force. Sales offices\nand plants are located throughout Europe, North America, Latin America, Africa, and Asia-Pacific regions to provide prompt\nand economical service to thousands of customers. Our technically trained sales force is supported by product development\nengineers, design technicians, field service technicians, and customer service teams.\nWe did not have sales to a single customer that exceeded 10% of consolidated net sales in the last three fiscal years.\nThe major markets in which we sell our products historically have been, and continue to be, highly competitive. Areas\nof competition include service, sustainability, innovation, quality, and price. Competitors include AptarGroup, Inc., Ball\nCorporation, Berry Global Group, Inc, CCL Industries Inc., Crown Holdings, Inc., Graphic Packaging Holding Company,\nHuhtamaki Oyj, International Paper Company, Mayr-Melnhof Karton AG, O-I Glass, Inc., Sealed Air Corporation, Silgan\nHoldings Inc., Sonoco Products Company, and WestRock Company, and a variety of privately held companies.\nWe consider ourselves to be a significant participant in the markets in which we operate; however, due to the diversity\nof our business, our precise competitive position in these markets is not reasonably determinable.\nBacklog\nWorking capital fluctuates throughout the year",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_cash_flow",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1223898k, investing: -877018k, financing: -304633, total cash flow: 42247k",
      "golden_context": "Page 137:\n\nJ.B. HUNT TRANSPORT SERVICES, INC.\nConsolidated Statements of Cash Flows\nYears Ended December 31, 2021, 2020 and 2019\n(in thousands)\n2021 2020 2019\nCash flows from operating activities:\nNet earnings $ 760,806 $ 506,035 $ 516,320\nAdjustments to reconcile net earnings to net cash provided\nby operating activities:\nDepreciation and amortization 557,093 527,375 499,145\nNoncash lease expense 55,137 45,985 39,517\nShare-based compensation 61,505 60,698 53,324\nLoss on sale of revenue equipment and other 5,540 4,389 13,057\nDeferred income taxes 53,420 (7,056) 55,617\nChanges in operating assets and liabilities:\nTrade accounts receivable (382,216) (109,758) 50,310\nIncome taxes receivable or payable (30,633) 57,851 41,447\nOther current assets (15,252) (18,038) (4,975)\nTrade accounts payable 140,295 (5,482) (85,327)\nClaims accruals 35,051 (9,072) (20,727)\nAccrued payroll and other accrued expenses (16,848) 69,932 (59,361)\nNet cash provided by operating activities 1,223,898 1,122,859 1,098,347\nCash flows from investing activities:\nAdditions to property and equipment (947,563) (738,545) (854,115)\nProceeds from sale of equipment 70,545 137,776 165,918\nBusiness acquisition — (12,136) (115,654)\nChange in other assets — (52) (111)\nNet cash used in investing activities (877,018) (612,957) (803,962)\nCash flows from financing activities:\nProceeds from long-term debt — — 700,000\nPayments on long-term debt — — (250,000)\nProceeds from revolving lines of credit and other — 222,124 1,591,014\nPayments on revolving lines of credit and other — (220,100) (1,904,000)\nPurchase of treasury stock (151,720) (92,548) (275,657)\nStock repurchased for payroll taxes and other (28,471) (26,842) (16,525)\nDividends paid (124,442) (114,234) (111,817)\nNet cash used in financing activities (304,633) (231,600) (266,985)\nNet increase in cash and cash equivalents 42,247 278,302 27,400\nCash and cash equivalents at beginning of year 313,302 35,000 7,600\nCash and cash equivalents at end of year $ 355,549 $ 313,302 $ 35,000\nSupplemental disclosure of cash flow information:\nCash paid during the year for:\nInterest $ 47,016 $ 48,351 $ 46,721\nIncome taxes $ 203,740 $ 95,454 $ 71,681\nNoncash investing activities\nAccruals for equipment received $ 60,464 $ 12,533 $ 25,505\nSee Notes to Consolidated Financial Statements.\nJ.B. HUNT TRANSPORT SERVICES, INC. 2021 Annual Report ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_company_type",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 97:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n__\nX__ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n__ __ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE TRANSITION PERIOD FROM _______ TO _______\nCommission file number\n0-11757\nJ.B. HUNT TRANSPORT SERVICES, INC.\n(Exact name of registrant as specified in its charter)\nArkansas 71-0335111\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n615 J.B. Hunt Corporate Drive 72745-0130\nLowell, Arkansas (ZIP Code)\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 479-820-0000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Title of each class Name of each exchange on which registered\nCommon Stock, $0.01 par value JBHT NASDAQ\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes __X__ No _____\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes _____ No __X\n__\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days.\nYes __X__ No _____\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period\nthat the registrant was required to submit and post such files).\nYes __X__ No _____\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-\naccelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer __X__ Accelerated filer _____ Non-accelerated filer _____ Smaller reporting company _____ Emerging\ngrowth company\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period\nfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the\neffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b))\nby the registered public accounting firm that prepared or issued its audit report. [X]\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\nYes _____ No __X\n__\nThe aggregate market value of 83,709,217 shares of the registrant’s $0.01 par value common stock held by non-affiliates as of\nJune 30, 2021, was $13.6 billion (based upon $162.95 per share).\nAs of February 15, 2022, the number of outstanding shares of the registrant’s common stock was 104,850,002.\nDOCUMENTS INCORPORATED BY REFERENCE\nCertain portions of the Notice and Proxy Statement for the Annual Meeting of Stockholders, to be held April 28, 2022, are",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_key_financials",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "12.2bn revenue",
      "golden_context": "Page 5:\n\nTo our Stockholders and Employees,\nWhen disruptive challenges approach, you can adapt, seize the opportunity to learn and\naccelerate into a solution. Or you can stay stagnant and deny change. I mention this because\nwe knew the complexities caused by the global pandemic would follow us into 2021, but we felt\nstronger and more resilient than ever. We armed ourselves with everything we had learned in\n2020 – confident of the investments we made in our people, our technology and our equipment.\nFeeling equipped and prepared for the work ahead, we narrowed in on our mission – to create\nthe most efficient transportation network in North America – and our numbers tell that same story.\n$12.2B\nFull year 2021\nrevenue, up 26%\n$10M\nEmployee appreciation\nbonuses to company\ndrivers, maintenance\ntechnicians and\nfull-time hourly\nemployees\n3.49M\nMetric tons of CO2e\nemissions we helped\navoid by converting\nover-the-road loads\nto intermodal\n$2B\nTransactions\nprocessed through\nthe J.B. Hunt 360°®\nfreight-matching\nplatform\n$1.6M\nSafe driver bonuses\nrecognizing 116 drivers\nfor achieving 2, 3, 4\nand 5 million miles\ndriven without a\npreventable accident\n1.3M\nLoads recorded on\nJ.B. Hunt 360\n889K\nTrucks we facilitated\naccess to through\nJ.B. Hunt 360\n100K\nOverall intermodal\ncontainers we\nsurpassed in 2021\n34K\nCOVID-19 vaccine\ndoses administered at\nvaccine clinics held on\nour corporate campus\n3,500\nRecord-breaking\nnumber of new\nnon-driver employees\nhired in 2021\nEstablishing a workplace of “culture cultivators” is essential to ensuring a company thrives.\nLast year, we took big steps to drive us forward in Diversity & Inclusion and were named one\nof “America’s Best Employers for Diversity 2021” by Forbes. The strength of a diverse workplace\nbolstered us to rise to the occasion of another disruptive year. Providing value ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_revenue",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "12.2bn",
      "golden_context": "Page 5:\n\nTo our Stockholders and Employees,\nWhen disruptive challenges approach, you can adapt, seize the opportunity to learn and\naccelerate into a solution. Or you can stay stagnant and deny change. I mention this because\nwe knew the complexities caused by the global pandemic would follow us into 2021, but we felt\nstronger and more resilient than ever. We armed ourselves with everything we had learned in\n2020 – confident of the investments we made in our people, our technology and our equipment.\nFeeling equipped and prepared for the work ahead, we narrowed in on our mission – to create\nthe most efficient transportation network in North America – and our numbers tell that same story.\n$12.2B\nFull year 2021\nrevenue, up 26%\n$10M\nEmployee appreciation\nbonuses to company\ndrivers, maintenance\ntechnicians and\nfull-time hourly\nemployees\n3.49M\nMetric tons of CO2e\nemissions we helped\navoid by converting\nover-the-road loads\nto intermodal\n$2B\nTransactions\nprocessed through\nthe J.B. Hunt 360°®\nfreight-matching\nplatform\n$1.6M\nSafe driver bonuses\nrecognizing 116 drivers\nfor achieving 2, 3, 4\nand 5 million miles\ndriven without a\npreventable accident\n1.3M\nLoads recorded on\nJ.B. Hunt 360\n889K\nTrucks we facilitated\naccess to through\nJ.B. Hunt 360\n100K\nOverall intermodal\ncontainers we\nsurpassed in 2021\n34K\nCOVID-19 vaccine\ndoses administered at\nvaccine clinics held on\nour corporate campus\n3,500\nRecord-breaking\nnumber of new\nnon-driver employees\nhired in 2021\nEstablishing a workplace of “culture cultivators” is essential to ensuring a company thrives.\nLast year, we took big steps to drive us forward in Diversity & Inclusion and were named one\nof “America’s Best Employers for Diversity 2021” by Forbes. The strength of a diverse workplace\nbolstered us to rise to the occasion of another disruptive year. Providing value ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_revenue_growth",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "26% growth",
      "golden_context": "Page 5:\n\nTo our Stockholders and Employees,\nWhen disruptive challenges approach, you can adapt, seize the opportunity to learn and\naccelerate into a solution. Or you can stay stagnant and deny change. I mention this because\nwe knew the complexities caused by the global pandemic would follow us into 2021, but we felt\nstronger and more resilient than ever. We armed ourselves with everything we had learned in\n2020 – confident of the investments we made in our people, our technology and our equipment.\nFeeling equipped and prepared for the work ahead, we narrowed in on our mission – to create\nthe most efficient transportation network in North America – and our numbers tell that same story.\n$12.2B\nFull year 2021\nrevenue, up 26%\n$10M\nEmployee appreciation\nbonuses to company\ndrivers, maintenance\ntechnicians and\nfull-time hourly\nemployees\n3.49M\nMetric tons of CO2e\nemissions we helped\navoid by converting\nover-the-road loads\nto intermodal\n$2B\nTransactions\nprocessed through\nthe J.B. Hunt 360°®\nfreight-matching\nplatform\n$1.6M\nSafe driver bonuses\nrecognizing 116 drivers\nfor achieving 2, 3, 4\nand 5 million miles\ndriven without a\npreventable accident\n1.3M\nLoads recorded on\nJ.B. Hunt 360\n889K\nTrucks we facilitated\naccess to through\nJ.B. Hunt 360\n100K\nOverall intermodal\ncontainers we\nsurpassed in 2021\n34K\nCOVID-19 vaccine\ndoses administered at\nvaccine clinics held on\nour corporate campus\n3,500\nRecord-breaking\nnumber of new\nnon-driver employees\nhired in 2021\nEstablishing a workplace of “culture cultivators” is essential to ensuring a company thrives.\nLast year, we took big steps to drive us forward in Diversity & Inclusion and were named one\nof “America’s Best Employers for Diversity 2021” by Forbes. The strength of a diverse workplace\nbolstered us to rise to the occasion of another disruptive year. Providing value ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000235_segments",
      "report_id": "ID_000235",
      "company_name": "JB Hunt",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "JBI, DCS, ICS, FMS, JBT",
      "golden_context": "Page 116:\n\nSegments\nWe operated five business segments during calendar year 2021. The operation of each of these businesses\nis described in our Notes to Consolidated Financial Statements. The following tables summarize financial and\noperating data by segment:\nOperating Revenue by Segment\nYears Ended December 31, (in millions)\n2021 2020 2019\nJBI $ 5,454 $ 4,675 $ 4,745\nDCS 2,578 2,196 2,128\nICS 2,538 1,658 1,348\nFMS 842 689 567\nJBT 796 463 389\nTotal segment revenues 12,208 9,681 9,177\nIntersegment eliminations (40) (44) (12)\nTotal $ 12,168 $ 9,637 $ 9,165\nOperating Income by Segment\nYears Ended December 31, (in millions)\n2021 2020 2019\nJBI $ 603 $ 428 $ 447\nDCS 304 314 278\nICS 46 (45) (11)\nFMS 28 (1) (9)\nJBT 65 17 29\nTotal $ 1,046 $ 71",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_cash_flow",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1776882k, investing: -1550070k, financing: -530434k, total cash flow: -303622k",
      "golden_context": "Page 143:\n\nJ.B. HUNT TRANSPORT SERVICES, INC.\nConsolidated Statements of Cash Flows\nYears Ended December 31, 2022, 2021 and 2020\n(in thousands)\n2022 2021 2020\nCash flows from operating activities:\nNet earnings $ 969,351 $ 760,806 $ 506,035\nAdjustments to reconcile net earnings to net cash provided by\noperating activities:\nDepreciation and amortization 644,520 557,093 527,375\nNoncash lease expense 83,797 55,137 45,985\nShare-based compensation 77,535 61,505 60,698\n(Gain)/loss on sale of revenue equipment and other (25,422) 5,540 4,389\nDeferred income taxes 175,089 53,420 (7,056)\nChanges in operating assets and liabilities:\nTrade accounts receivable (13,950) (382,216) (109,758)\nIncome taxes receivable or payable (69,025) (30,633) 57,851\nOther current assets (83,892) (15,252) (18,038)\nTrade accounts payable (23,838) 140,295 (5,482)\nClaims accruals 117,887 35,051 (9,072)\nAccrued payroll and other accrued expenses (75,170) (16,848) 69,932\nNet cash provided by operating activities 1,776,882 1,223,898 1,122,859\nCash flows from investing activities:\nAdditions to property and equipment (1,540,796) (947,563) (738,545)\nProceeds from sale of equipment 108,901 70,545 137,776\nBusiness acquisition (118,175) — (12,136)\nChange in other assets — — (52)\nNet cash used in investing activities (1,550,070) (877,018) (612,957)\nCash flows from financing activities:\nPayments on long-term debt (350,000) — —\nProceeds from revolving lines of credit and other 1,738,100 — 222,124\nPayments on revolving lines of credit and other (1,420,600) — (220,100)\nPurchase of treasury stock (300,030) (151,720) (92,548)\nStock repurchased for payroll taxes and other (31,180) (28,471) (26,842)\nDividends paid (166,724) (124,442) (114,234)\nNet cash used in financing activities (530,434) (304,633) (231,600)\nNet (decrease)/increase in cash and cash equivalents (303,622) 42,247 278,302\nCash and cash equivalents at beginning of year 355,549 313,302 35,000\nCash and cash equivalents at end of year $ 51,927 $ 355,549 $ 313,302\nSupplemental disclosure of cash flow information:\nCash paid during the year for:\nInterest Income taxes $ 50,433 $ 47,016 $ 48,351\n$ 195,827 $ 203,740 $ 95,454\nNoncash investing activities\nAccruals for equipment received $ 107,474 $ 60,464 $ 12,533\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_company_type",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 103:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nX\n_\n_ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n_ _ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR\nTHE TRANSITION PERIOD FROM _______ TO _______\nCommission file number\n0-11757\nJ.B. HUNT TRANSPORT SERVICES, INC.\n(Exact name of registrant as specified in its charter)\nArkansas 71-0335111\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n615 J.B. Hunt Corporate Drive 72745-0130\nLowell, Arkansas (ZIP Code)\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 479-820-0000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value NASDAQ\nJBHT Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes __X__ No _____\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes _____ No __X__\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days.\nYes __X__ No _____\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit and post such files).\nYes __X__ No _____\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,”\n“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer __X__ Accelerated filer _____ Non-accelerated filer _____ Smaller reporting company _____ Emerging growth\ncompany\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered\npublic accounting firm that prepared or issued its audit report. [X]\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the\nregistrant included in the filing reflect the correction of an error to previously issued financial statements. [ ]\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b) . [ ]\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\nYes _____ No __X__\nThe aggregate market value of 82,346,856 shares of the registrant’s $0.01 par value common stock held by non-affiliates as of June\n30, 2022, was $13.0 billion (based upon $157.47 per share).\nAs of February 21, 2023, the number of outstanding shares of the registrant’s common stock was 103,770,366.\nDOCUMENTS INCORPORATED BY REFERENCE\nCertain portions of the Notice and Proxy Statement for the Annual Meeting of Stockholders, to be held April 27, 2023, are incorporated\nby reference in Part III of this Form 10-K.\nJ.B. HUNT TRANSPORT SERVICES, INC. 2022 Annual Report 101",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_key_financials",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "14.81bn revenue",
      "golden_context": "Page 5:\n\nA Strong Foundation\nAs we end 2022 and enter 2023, we see the fruit of preparedness and resiliency that we planted over the past few\nchallenging years. Our organization remained anchored in our three foundational principles: people, technology\nand capacity. Because of our commitment to diligently make investments in these key areas, we were able to meet\nthe year with energy and creativity, while positioning our organization for opportunities for growth.\nOur formula for growth is simple. Stay rooted in our strong foundations while being adaptable enough to thrive in\nany market environment. J.B. Hunt’s industry-leading services and mode-neutral approach provide our customers\nwith opportunities to unlock value without compromising service or capacity. Our Cycle of Innovation is evidenced\nby the fact that throughout our business we are always in various stages of disrupting, adapting and accelerating\nto continue our growth trajectory and delivering long-term returns for shareholders. While market dynamics may\nshift often, our focus on these foundations remains solid.\nSince 2017, our company revenue\nhas more than doubled and we\nhad a lot to celebrate in 2022:\n$14.81 billion\nin revenue,\nup 22% year-over-year\n$8.8 million+\nin appreciation bonuses to\nfull-time company drivers and\nfull-time hourly maintenance\nand office employees for the\nsecond consecutive year\n$2.2 billion\nin total freight transactions\nin the J.B. Hunt 360°®\nmarketplace\n5 million\nsafe miles driven by Tony,\nan intermodal driver in\nTexas, becoming the\nsecond J.B. Hunt driver to\nreach this accomplishment\n56,000+\ncarriers added to\nJ.B. Hunt 360° platform\n3 million\nsafe miles driven by\nEdwina, a dedicated driver\nin Arizona, making her the\nfirst female driver to reach\nthis milestone at J.B. Hunt\n32% reduction\nin carbon emission\nintensity by 2034, our\nambitious goal set to\naddress climate change\n$2.6 million+\nin safe driver bonuses\nrecognizing 369 drivers for\nachieving 1, 2, 3, 4 and 5\nmillion miles driven without\na preventable accident\n5-year\nanniversary of the\nJ.B. Hunt 360° platform\n115,000+\ncompany-owned containers\nin North America’s largest,\nindustry-leading\nIntermodal business\n2,000+ trucks\nsold within our Dedicated\nbusiness as demand for\nprofessional outsourced\nprivate fleet solutions\nremains strong\n$1 billion\nin Truckload segment\nannual revenue for the first\ntime in its 22-year lifetime\n159,000+\npieces of trailing capacity\nin total, including 16,000+\nboxes made available\nthrough J.B. Hunt 360box®\n5 million\nlast-mile deliveries made\nannually through our Final\nMile Services® segment\nJ.B. HUNT TRANSPORT SERVICES, INC. Letter to Our Stockholders and Employees 3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_revenue",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "14.8bn",
      "golden_context": "Page 15:\n\nJ.B. HUNT\nCONSOLIDATED\nREVENUE\n$14.8B\n22%\nINTERMODAL\n(JBI)\nREVENUE\n$7B\n29%\nDEDICATED\n(DCS)\nREVENUE\n$3.4B\n31%\nOPERATING INCOME\n$1.3B\n27%\nOPERATING INCOME\n$800M\n33%\nOPERATING INCOME\n$345M\n13%\nINTEGRATED\n(ICS)\nREVENUE\n$2.4B\n6%\nTRUCKLOAD\n(JBT)\nREVENUE\n$1.1B\n36%\nFINAL MILE\n(FMS)\nREVENUE\n$980M\n16%\nOPERATING INCOME\n$59M\n28%\nOPERATING INCOME\n$92M\n42%\nOPERATING INCOME\n$35M\n25%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_revenue_growth",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "up 22%",
      "golden_context": "Page 15:\n\nJ.B. HUNT\nCONSOLIDATED\nREVENUE\n$14.8B\n22%\nINTERMODAL\n(JBI)\nREVENUE\n$7B\n29%\nDEDICATED\n(DCS)\nREVENUE\n$3.4B\n31%\nOPERATING INCOME\n$1.3B\n27%\nOPERATING INCOME\n$800M\n33%\nOPERATING INCOME\n$345M\n13%\nINTEGRATED\n(ICS)\nREVENUE\n$2.4B\n6%\nTRUCKLOAD\n(JBT)\nREVENUE\n$1.1B\n36%\nFINAL MILE\n(FMS)\nREVENUE\n$980M\n16%\nOPERATING INCOME\n$59M\n28%\nOPERATING INCOME\n$92M\n42%\nOPERATING INCOME\n$35M\n25%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000236_segments",
      "report_id": "ID_000236",
      "company_name": "JB Hunt",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated\nCapacity Solutions (ICS), Final Mile Services® (FMS) and Truckload (JBT)",
      "golden_context": "Page 105:\n\nITEM 1. BUSINESS\nOVERVIEW\nWe are one of the largest surface transportation, delivery, and logistics companies in North America. J.B. Hunt\nTransport Services, Inc. is a publicly held holding company that, through our wholly owned subsidiaries, provides\na wide range of reliable transportation, brokerage, and delivery services to a diverse group of customers and\nconsumers throughout the continental United States, Canada, and Mexico. Unless otherwise indicated by\nthe context, “we,” “us,” “our,” the “Company”, and “JBHT” refer to J.B. Hunt Transport Services, Inc. and its\nconsolidated subsidiaries. We were incorporated in Arkansas on August 10, 1961, and have been a publicly held\ncompany since our initial public offering in 1983. Our service offerings include transportation of full-truckload\ncontainerized freight, which we directly transport utilizing our company-controlled revenue equipment and\ncompany drivers, independent contractors, or third-party carriers. We have arrangements with most of the major\nNorth American rail carriers to transport freight in containers or trailers, while we perform the majority of the\npickup and delivery services. We also provide customized freight movement, revenue equipment, labor, systems,\nand delivery services that are tailored to meet individual customers’ requirements and typically involve long-term\ncontracts. These arrangements are generally referred to as dedicated services and may include multiple pickups\nand drops, freight handling, specialized equipment, and freight network design. In addition, we provide or arrange\nfor local and home delivery services, generally referred to as last-mile delivery services, to customers through\na network of cross-dock and other delivery system locations throughout the continental United States. Utilizing\nthousands of reliable third-party carriers, we also provide comprehensive freight transportation brokerage and\nlogistics services. In addition to dry-van, full-load operations, we also arrange for these unrelated outside carriers\nto provide flatbed, refrigerated, less-than-truckload (LTL), and other specialized equipment, drivers, and services.\nAlso, we utilize a combination of company-owned and contracted power units to provide traditional over-the-road\nfull truckload delivery services. Our customers, who include many Fortune 500 companies, have extremely diverse\nbusinesses. Many of them are served by J.B. Hunt 360°®, an online platform that offers shippers and carriers\ngreater access, visibility and transparency of the supply chain.\nWe believe our ability to offer multiple services, utilizing our existing lines of business and a full complement of\nlogistics services through third parties, represents a competitive advantage. We report our operating results for\nthese services using five reporting segments: Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated\nCapacity Solutions (ICS), Final Mile Services® (FMS) and Truckload (JBT). Our business usually involves slightly\nhigher freight volumes in August through early November. Meanwhile, DCS and FMS are subject to less seasonal\nvariation than our other segments.\nOur operations have been impacted by the COVID-19 global pandemic. We began our COVID-19 response\nactivities in the first quarter of 2020, which required remote working when possible, expanded health and safety\npolicies, facility modifications, increased security coverage, and purchase and distribution of personal protective\nequipment and supplies. In addition, we provided incremental paid time off for employees to help offset any\nfinancial loss caused by their absence from work when receiving the COVID-19 vaccination. We also worked with\nlocal healthcare organizations to provide vaccination assistance under applicable area guidelines and procedures\nto employees and their family members. In April 2022, we eliminated the requirement of remote working when\npossible, resulting in previously remote employees returning to our home office campus and all other field\nlocations throughout North America. We continue to review and analyze both external and internal COVID-related\ndata, including the effects of new variants. We are pleased with the continued performance of our employees,\nparticularly our drivers, who provided consistent service to our customers throughout the pandemic.\nAdditional general information about us is available at jbhunt.com. We make a number of reports and other\ninformation available free of charge on our website, including our annual report on Form 10-K, quarterly reports on\nForm 10-Q, current reports on Form 8-K and all amendments to those reports as soon as reasonably practicable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_cash_flow",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating : 1744618k, investing: -1685215k, financing: -57986k, total cash flow 1417k",
      "golden_context": "Page 140:\n\n.B. HUNT TRANSPORT SERVICES, INC.\nConsolidated Statements of Cash Flows\nYears Ended December 31, 2023, 2022 and 2021\n(in thousands)\n2023 2022 2021\nCash flows from operating activities:\nNet earnings $ 728,287 $ 969,351 $ 760,806\nAdjustments to reconcile net earnings to net cash provided by operating\nactivities:\nDepreciation and amortization 737,954 644,520 557,093\nNoncash lease expense 97,666 83,797 55,137\nShare-based compensation 79,189 77,535 61,505\n(Gain)/loss on sale of revenue equipment and other 27,806 (25,422) 5,540\nDeferred income taxes 15,677 175,089 53,420\nChanges in operating assets and liabilities:\nTrade accounts receivable 259,449 (13,950) (382,216)\nIncome taxes receivable or payable 62,054 (69,025) (30,633)\nOther current assets (39,351) (83,892) (15,252)\nTrade accounts payable (48,346) (23,838) 140,295\nClaims accruals 18,429 117,887 35,051\nAccrued payroll and other accrued expenses (194,196) (75,170) (16,848)\nNet cash provided by operating activities 1,744,618 1,776,882 1,223,898\nCash flows from investing activities:\nAdditions to property and equipment (1,862,431) (1,540,796) (947,563)\nProceeds from sale of equipment 262,216 108,901 70,545\nBusiness acquisitions (85,000) (118,175) -\nNet cash used in investing activities (1,685,215) (1,550,070) (877,018)\nCash flows from financing activities:\nPayments on long-term debt - (350,000) -\nProceeds from revolving lines of credit and other 2,223,600 1,738,100 -\nPayments on revolving lines of credit and other (1,911,100) (1,420,600) -\nPurchase of treasury stock (159,576) (300,030) (151,720)\nStock repurchased for payroll taxes and other (37,012) (31,180) (28,471)\nDividends paid (173,898) (166,724) (124,442)\nNet cash used in financing activities (57,986) (530,434) (304,633)\nNet (decrease)/increase in cash and cash equivalents 1,417 (303,622) 42,247\nCash and cash equivalents at beginning of year 51,927 355,549 313,302\nCash and cash equivalents at end of year $ 53,344 $ 51,927 $ 355,549\nSupplemental disclosure of cash flow information:\nCash paid during the year for:\nInterest $ 65,561 $ 50,433 $ 47,016\nIncome taxes $ 135,385 $ 195,827 $ 203,740\nNoncash investing activities\nAccruals for equipment received $ 44,692 $ 107,474 $ 60,464\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_company_type",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 101:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nX ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION\nPERIOD FROM TO\nCommission file number\n0-11757\nJ.B. HUNT TRANSPORT SERVICES, INC.\n(Exact name of registrant as specified in its charter)\nArkansas 71-0335111\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n615 J.B. Hunt Corporate Drive 72745-0130\nLowell, Arkansas (ZIP Code)\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 479-820-0000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value NASDAQ\nJBHT Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes X No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes No X\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days.\nYes X No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).\nYes X No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer X Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public acco",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_key_financials",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "12.8bn revenue, ",
      "golden_context": "Page 16:\n\nJ.B. HUNT\nCONSOLIDATED\nINTERMODAL\n(JBI)\nDEDICATED\n(DCS)\nREVENUE $12.8B 13% REVENUE\n$6.2B\n12%\nREVENUE\n$3.5B\n1%\nOPERATING INCOME $993M 25% OPERATING INCOME\n$569M\n29% OPERATING INCOME\n$405M\n12%\nINTEGRATED\n(ICS)\nREVENUE\n$1.4B\n40%\nFINAL MILE\n(FMS)\nREVENUE\n$918M\n12%\nTRUCKLOAD\n(JBT)\nREVENUE\n$789M\n16%\nOPERATING LOSS\n$(44)M\nOPERATING INCOME\n$47M\n28%\nOPERATING INCOME\n$16M\n79%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_revenue",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "12.8bn",
      "golden_context": "Page 16:\n\nJ.B. HUNT\nCONSOLIDATED\nINTERMODAL\n(JBI)\nDEDICATED\n(DCS)\nREVENUE $12.8B 13% REVENUE\n$6.2B\n12%\nREVENUE\n$3.5B\n1%\nOPERATING INCOME $993M 25% OPERATING INCOME\n$569M\n29% OPERATING INCOME\n$405M\n12%\nINTEGRATED\n(ICS)\nREVENUE\n$1.4B\n40%\nFINAL MILE\n(FMS)\nREVENUE\n$918M\n12%\nTRUCKLOAD\n(JBT)\nREVENUE\n$789M\n16%\nOPERATING LOSS\n$(44)M\nOPERATING INCOME\n$47M\n28%\nOPERATING INCOME\n$16M\n79%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_revenue_growth",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Down 13%",
      "golden_context": "Page 16:\n\nJ.B. HUNT\nCONSOLIDATED\nINTERMODAL\n(JBI)\nDEDICATED\n(DCS)\nREVENUE $12.8B 13% REVENUE\n$6.2B\n12%\nREVENUE\n$3.5B\n1%\nOPERATING INCOME $993M 25% OPERATING INCOME\n$569M\n29% OPERATING INCOME\n$405M\n12%\nINTEGRATED\n(ICS)\nREVENUE\n$1.4B\n40%\nFINAL MILE\n(FMS)\nREVENUE\n$918M\n12%\nTRUCKLOAD\n(JBT)\nREVENUE\n$789M\n16%\nOPERATING LOSS\n$(44)M\nOPERATING INCOME\n$47M\n28%\nOPERATING INCOME\n$16M\n79%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000237_segments",
      "report_id": "ID_000237",
      "company_name": "JB Hunt",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated Capacity Solutions (ICS), Final Mile Services® (FMS) and Truckload (JBT)",
      "golden_context": "Page 103:\n\npment, and freight network design. In addition, we provide or arrange for local and home delivery\nservices, generally referred to as last-mile delivery services, to customers through a network of cross-dock and\nother delivery system locations throughout the continental United States. Utilizing thousands of reliable third-party\ncarriers, we also provide comprehensive freight transportation brokerage and logistics services. In addition to\ndry-van, full-load operations, we also arrange for these unrelated outside carriers to provide flatbed, refrigerated,\nless-than-truckload (LTL), and other specialized equipment, drivers, and services. Also, we utilize a combination of\ncompany-owned and contracted power units to provide traditional over-the-road full truckload delivery services.\nOur customers, who include many Fortune 500 companies, have extremely diverse businesses. Many of them\nare served by J.B. Hunt 360°®, an online platform that offers shippers and carriers greater access, visibility and\ntransparency of the supply chain.\nWe believe our ability to offer multiple services, utilizing our existing lines of business and a full complement of\nlogistics services through third parties, represents a competitive advantage. We report our operating results for\nthese services using five reporting segments: Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated\nCapacity Solutions (ICS), Final Mile Services® (FMS) and Truckload (JBT). Our business usually involves slightly\nhigher freight volumes in August through early November. Meanwhile, DCS and FMS are subject to less seasonal\nvariation than our other segments.\nAdditional general information about us is available at jbhunt.com. We make a number of reports and other\ninformation available free of charge on our website, including our annual report on Form 10-K, quarterly reports on\nForm 10-Q, current reports on Form 8-K and all amendments to those reports as soon as reasonably practicable\nafter such material is electronically filed with or furnished to the SEC pursuant to Section 13(a) or 15(d) of the\nSecurities Exchange Act of 1934. Our website also contains corporate governance guidelines, our code of ethics,\nour whistleblower policy, Board committee charters, and other corporate policies. The information on our website is\nnot, and shall not be deemed to be, a part of this annual report on Form 10-K or incorporated into any other filings\nwe make with the SEC.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_cash_flow",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1772.0m, investing: -3133.2m, financing: 1677.4m, total cash flow: 316.2m",
      "golden_context": "Page 44:\n\nSKYWORKS SOLUTIONS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nOctober 1,\n2021\nFiscal Years Ended\nOctober 2,\n2020\nSeptember 27,\n2019\nCash flows from operating activities:\nNet income $ 1,498.3 $ 814.8 $ 853.6\nAdjustments to reconcile net income to net cash provided by operating activities:\nShare-based compensation 191.9 156.6 80.1\nDepreciation 332.2 318.3 314.9\nAmortization of intangible assets, including inventory step-up 104.5 46.0 56.7\nDeferred income taxes (59.5) (13.4) (6.1)\nAsset impairment charges 7.1 11.8 —\nAmortization of debt discount and issuance costs 1.1 — —\nChanges in fair value of contingent consideration — — (3.1)\nOther, net 0.2 3.8 16.8\nChanges in assets and liabilities:\nReceivables, net (397.7) 76.8 228.8\nInventory (41.2) (190.4) (119.6)\nAccounts payable 59.6 61.1 (33.0)\nOther current and long-term assets and liabilities 75.5 (80.9) (21.7)\nNet cash provided by operating activities 1,772.0 1,204.5 1,367.4\nCash flows from investing activities:\nCapital expenditures (637.8) (389.4) (398.4)\nPurchased intangibles (14.3) (9.1) (25.0)\nPurchases of marketable securities (500.8) (790.5) (360.5)\nSales and maturities of marketable securities 770.7 607.6 447.0\nPayments for acquisitions (2,751.0) — —\nNet cash used in investing activities (3,133.2) (581.4) (336.9)\nCash flows from financing activities:\nRepurchase of common stock - payroll tax withholdings on equity awards (55.2) (33.1) (22.8)\nRepurchase of common stock - stock repurchase program (195.6) (647.5) (657.6)\nDividends paid (340.6) (307.0) (273.9)\nNet proceeds from exercise of stock options 11.6 57.1 22.1\nProceeds from employee stock purchase plan 24.8 22.8 19.7\nProceeds from issuance of long-term debt, net 2,488.2 — —\nDebt financing costs (5.8) — —\nPayments of debt (250.0) — —\nNet cash provided by (used in) financing activities 1,677.4 (907.7) (912.5)\nNet increase (decrease) in cash and cash equivalents 316.2 (284.6) 118.0\nCash and cash equivalents at beginning of period 566.7 851.3 733.3\nCash and cash equivalents at end of period $ 882.9 $ 566.7 $ 851.3\nSupplemental cash flow disclosures:\nIncome taxes paid $ 184.0 $ 110.8 $ 124.4\nInterest paid $ 2.2 $ — $ —\nIncentives paid in common stock $ 27.5 $ — $ 0.7\nNon-cash investing in capital expenditures, accrued but not paid $ 29.3 $ 78.7 $ 101.5\nRetirement of treasury stock $ 4,342.6 $ — $ —\nSee accompanying Notes to Consolidated Financial Statements.\n42",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_company_type",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 1, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n__________\n__________\nCommission file number 001-05560\nSkyworks Solutions, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2302115\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n5260 California Avenue Irvine California 92617\n(Address of principal executive offices) (Zip Code)\n(949) 231-3000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.25 per share Trading Symbol(s)\nSWKS Name of each exchange on which\nregistered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. o Yes þ No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months\n(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ Yes o No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). þ Yes o No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company,\n” in Rule 12b-2 of the Exchange Act.\nLarge accelerated\nNon-accelerated filer\nEmerging growth\nfiler þ Accelerated filer ☐\n☐ Smaller reporting company ☐\ncompany ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepares or issued its audit report. þ\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes þ No\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant (based on the closing price of the registrant’s common stock as reported on the\nNasdaq Global Select Market on the last business day of the registrant’s most recently completed second fiscal quarter April 2, 2021) was approximately $30.9 billion. The number of\noutstanding shares of the registrant’s common stock, par value $0.25 per share, as of November 18, 2021, was 165,387,253.\nDOCUMENTS INCORPORATED BY REFERENCE\nPart of Form 10-K Part III\nDocuments from which portions are incorporated by reference\nPortions of the Registrant’s Proxy Statement relating to the Registrant’s 2022 Annual Meeting of Stockholders (to be filed) are\nincorporated by reference into Items 10, 11, 12, 13, and 14 of this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_key_financials",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net revenue increased 52.3% to 5109.1m. gross profit 2512.4m.",
      "golden_context": "Page 32:\n\nring the fiscal year ended October 1, 2021, the following key factors contributed to our overall results of operations, financial position, and cash flows:\n• Net revenue increased 52.3% to $5,109.1 million, as compared to fiscal 2020. This increase in revenue was driven primarily by an increase in\noverall demand for wireless connectivity products coupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions.\nAdditionally, our average content per device for these next-generation solutions increased.\n• Our ending cash, cash equivalents, and marketable securities balance increased 4.8% to $1,027.2 million as of October 1, 2021, from $980.0\nmillion as of October 2, 2020. The increase in cash, cash equivalents, and marketable securities during fiscal 2021 was primarily due to cash\ngenerated from operations of $1,772.0 million, the borrowing of $1,000.0 million in Term Loans, $500.0 million of Senior Notes due 2023 (the\n“2023 Notes”), $500.0 million of Senior Notes due 2026 (the “2026 Notes”), and $500.0 million of Senior Notes due 2031 (the “2031 Notes” and,\ntogether with the 2023 Notes and the 2026 Notes, the “Notes”), partially offset by payments for acquisitions of $2,751.0 million, capital\nexpenditures of $637.8 million, dividend payments of $340.6 million, repayments of Term Loans of $250.0 million, and the repurchase of 1.4\nmillion shares of common stock for $195.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 5,109.1 52.3% $ 3,355.7 (0.6)% $ 3,376.8\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal quarters\n(which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in anticipation of\nincreased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2021, as compared to fiscal 2020, was driven by an increase in overall demand for wireless connectivity products\ncoupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions. Additionally, our average content per device for these next-\ngeneration solutions increased.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 2,512.4 55.8% $ 1,612.9 0.6% $ 1,603.8\n% of net revenue 49.2 % 48.1 % 47.5 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead (including\ndepreciation and share-based compensation expense) associated with product manufacturing. As part of our normal course of business, we intend to\nimprove gross profit with efforts to increase unit volumes, improve manufacturing efficiencies, lower manufacturing costs of existing products, and by\nintroducing new and higher value-added products.\nThe increase in gross profit in fiscal 2021, as compared to fiscal 2020, was primarily the result of a favorable product mix and higher unit volumes with a\ngross profit impact of $950.2 million, partially offset by lower average selling prices and an increase in amortization of acquisition intangibles, including\ninventory step-up, as a result of the Acquisition completed during the period. Gross profit as a percentage of net revenue is estimated to decrease in fiscal\n2022 due to amortization of intangibles acquired during fiscal 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_revenue",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Net revenue 5109.1m",
      "golden_context": "Page 32:\n\nring the fiscal year ended October 1, 2021, the following key factors contributed to our overall results of operations, financial position, and cash flows:\n• Net revenue increased 52.3% to $5,109.1 million, as compared to fiscal 2020. This increase in revenue was driven primarily by an increase in\noverall demand for wireless connectivity products coupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions.\nAdditionally, our average content per device for these next-generation solutions increased.\n• Our ending cash, cash equivalents, and marketable securities balance increased 4.8% to $1,027.2 million as of October 1, 2021, from $980.0\nmillion as of October 2, 2020. The increase in cash, cash equivalents, and marketable securities during fiscal 2021 was primarily due to cash\ngenerated from operations of $1,772.0 million, the borrowing of $1,000.0 million in Term Loans, $500.0 million of Senior Notes due 2023 (the\n“2023 Notes”), $500.0 million of Senior Notes due 2026 (the “2026 Notes”), and $500.0 million of Senior Notes due 2031 (the “2031 Notes” and,\ntogether with the 2023 Notes and the 2026 Notes, the “Notes”), partially offset by payments for acquisitions of $2,751.0 million, capital\nexpenditures of $637.8 million, dividend payments of $340.6 million, repayments of Term Loans of $250.0 million, and the repurchase of 1.4\nmillion shares of common stock for $195.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 5,109.1 52.3% $ 3,355.7 (0.6)% $ 3,376.8\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal quarters\n(which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in anticipation of\nincreased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2021, as compared to fiscal 2020, was driven by an increase in overall demand for wireless connectivity products\ncoupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions. Additionally, our average content per device for these next-\ngeneration solutions increased.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 2,512.4 55.8% $ 1,612.9 0.6% $ 1,603.8\n% of net revenue 49.2 % 48.1 % 47.5 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead (including\ndepreciation and share-based compensation expense) associated with product manufacturing. As part of our normal course of business, we intend to\nimprove gross profit with efforts to increase unit volumes, improve manufacturing efficiencies, lower manufacturing costs of existing products, and by\nintroducing new and higher value-added products.\nThe increase in gross profit in fiscal 2021, as compared to fiscal 2020, was primarily the result of a favorable product mix and higher unit volumes with a\ngross profit impact of $950.2 million, partially offset by lower average selling prices and an increase in amortization of acquisition intangibles, including\ninventory step-up, as a result of the Acquisition completed during the period. Gross profit as a percentage of net revenue is estimated to decrease in fiscal\n2022 due to amortization of intangibles acquired during fiscal 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_revenue_growth",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue 5'109.1m, \nprior year 3355.7m\n\n52% growth\n",
      "golden_context": "Page 32:\n\nring the fiscal year ended October 1, 2021, the following key factors contributed to our overall results of operations, financial position, and cash flows:\n• Net revenue increased 52.3% to $5,109.1 million, as compared to fiscal 2020. This increase in revenue was driven primarily by an increase in\noverall demand for wireless connectivity products coupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions.\nAdditionally, our average content per device for these next-generation solutions increased.\n• Our ending cash, cash equivalents, and marketable securities balance increased 4.8% to $1,027.2 million as of October 1, 2021, from $980.0\nmillion as of October 2, 2020. The increase in cash, cash equivalents, and marketable securities during fiscal 2021 was primarily due to cash\ngenerated from operations of $1,772.0 million, the borrowing of $1,000.0 million in Term Loans, $500.0 million of Senior Notes due 2023 (the\n“2023 Notes”), $500.0 million of Senior Notes due 2026 (the “2026 Notes”), and $500.0 million of Senior Notes due 2031 (the “2031 Notes” and,\ntogether with the 2023 Notes and the 2026 Notes, the “Notes”), partially offset by payments for acquisitions of $2,751.0 million, capital\nexpenditures of $637.8 million, dividend payments of $340.6 million, repayments of Term Loans of $250.0 million, and the repurchase of 1.4\nmillion shares of common stock for $195.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 5,109.1 52.3% $ 3,355.7 (0.6)% $ 3,376.8\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal quarters\n(which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in anticipation of\nincreased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2021, as compared to fiscal 2020, was driven by an increase in overall demand for wireless connectivity products\ncoupled with the onset of technology upgrade cycles, including for 5G and Wi-Fi 6 solutions. Additionally, our average content per device for these next-\ngeneration solutions increased.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit October 1,\nFiscal Years Ended\nOctober 2,\n2021 Change\n2020 Change\nSeptember 27,\n2019\n$ 2,512.4 55.8% $ 1,612.9 0.6% $ 1,603.8\n% of net revenue 49.2 % 48.1 % 47.5 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead (including\ndepreciation and share-based compensation expense) associated with product manufacturing. As part of our normal course of business, we intend to\nimprove gross profit with efforts to increase unit volumes, improve manufacturing efficiencies, lower manufacturing costs of existing products, and by\nintroducing new and higher value-added products.\nThe increase in gross profit in fiscal 2021, as compared to fiscal 2020, was primarily the result of a favorable product mix and higher unit volumes with a\ngross profit impact of $950.2 million, partially offset by lower average selling prices and an increase in amortization of acquisition intangibles, including\ninventory step-up, as a result of the Acquisition completed during the period. Gross profit as a percentage of net revenue is estimated to decrease in fiscal\n2022 due to amortization of intangibles acquired during fiscal 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000238_segments",
      "report_id": "ID_000238",
      "company_name": "Skyworks",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 63:\n\ns per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding\nduring the period. The calculation of diluted earnings per share includes the dilutive effect of equity-based awards that were outstanding during the fiscal\nyears ended October 1, 2021, October 2, 2020, and September 27, 2019, using the treasury stock method. Shares issuable upon the vesting of\nperformance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied, assuming\nthe end of the reporting period was the end of the contingency period. Certain of the Company’s outstanding share-based awards, noted in the table above,\nwere excluded because they were anti-dilutive, but they could become dilutive in the future.\n15. SEGMENT INFORMATION AND CONCENTRATIONS\nThe Company has a single reportable operating segment which designs, develops, manufactures, and markets similar proprietary semiconductor products,\nincluding intellectual property. In reaching this conclusion, management considers the definition of the chief operating decision maker (“CODM”), how the\nbusiness is defined by the CODM, the nature of the information provided to the CODM, and how that information is used to make operating decisions,\nallocate resources, and assess performance. The Company’s CODM is the president and chief executive officer. The results of operations provided to and\nanalyzed by the CODM are at the consolidated level and accordingly, key resource decisions and assessment of performance are performed at the\nconsolidated level. The Company assesses its determination of operating segments at least annually.\nDisaggregation of Revenue and Geographic Information\nThe Company presents net revenue by geographic area based upon the location of the OEMs’ headquarters and sales channel as it believes that doing so\nbest depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_cash_flow",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1424.6m, investing: -378.9m, financing: -1362.6m",
      "golden_context": "Page 36:\n\n(in millions)\nCash and cash equivalents at beginning of period Net cash provided by operating activities Net cash used in investing activities Net cash provided by (used in) financing activities Cash and cash equivalents at end of period Fiscal Years Ended\nSeptember 30,\nOctober 1,\nOctober 2,\n2022\n2021\n2020\n$ 882.9 $ 566.7 $ 851.3\n1,424.6 1,772.0 1,204.5\n(378.9) (3,133.2) (581.4)\n(1,362.6) 1,677.4 (907.7)\n$ 566.0 $ 882.9 $ 566.7\nCash provided by operating activities:\nCash provided by operating activities consists of net income for the period adjusted for certain non-cash items and changes in certain operating assets\nand liabilities. The $347.4 million decrease in cash provided by operating activities for fiscal 2022, as compared to fiscal 2021, was primarily related to\nunfavorable changes in working capital of $523.7 million, due primarily to increases in inventory and cash with deposits with suppliers.\nCash used in investing activitie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_company_type",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 4:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended September 30, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n__________\n__________\nCommission file number 001-05560\nSkyworks Solutions, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2302115\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n5260 California Avenue Irvine California 92617\n(Address of principal executive offices) (Zip Code)\n(949)231-3000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.25 per share Trading Symbol(s)\nSWKS Name of each exchange on which\nregistered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. o Yes þ No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ Yes o No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). þ Yes o No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company,\n” in Rule 12b-2 of the Exchange Act.\nLarge accelerated\nNon-accelerated filer\nfiler þ Accelerated filer ☐\n☐ Smaller reporting company ☐\nEmerging growth\ncompany ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepares or issued its audit report. þ\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes þ No\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant (based on the closing price of the registrant’s common stock as reported on the\nNasdaq Global Select Market on the last business day of the registrant’s most recently completed second fiscal quarter April 1, 2022) was approximately $21.3 billion. The number of\noutstanding shares of the registrant’s common stock, par value $0.25 per share, as of November 11, 2022, was 160,161,064.\nDOCUMENTS INCORPORATED BY REFERENCE\nPart of Form 10-K Part III Documents from which portions are incorporated by reference\nPortions of the Registrant’s Proxy Statement relating to the Registrant’s 2023 Annual Meeting of Stoc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_key_financials",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net revenue 5485.5m, gross profit 2604.3m, ",
      "golden_context": "Page 33:\n\nGeneral\nflows:\nDuring the fiscal year ended September 30, 2022, the following key factors contributed to our overall results of operations, financial position, and cash\n• Net revenue increased 7.4% to $5,485.5 million in fiscal 2022, as compared to $5,109.1 million in fiscal 2021. This increase in revenue was\ndriven primarily by our acquisition in the fourth quarter of fiscal 2021 of the Infrastructure and Automotive business of Silicon Laboratories Inc.\n(the “Acquisition”) to support high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor\ncontrol, power supply, 5G wireless infrastructure, optical data communication and data center, and smart home. The increase in net revenue\nwas also driven in part by an increase in demand for next-generation wireless connectivity products, including for 5G and advanced Wi-Fi\nsolutions, from major OEMs and the associated increases in average content per device for these products, offset by a decrease in demand for\nour mobile products from smartphone customers in China.\n• Our ending cash, cash equivalents, and marketable securities balance decreased 43% to $586.8 million in fiscal 2022, as compared to\n$1,027.2 million in fiscal 2021. The decrease in cash, cash equivalents, and marketable securities during fiscal 2022 was primarily due to the\nrepurchase of 6.5 million shares of common stock for $886.8 million, capital expenditures of $489.4 million, and dividend payments of\n$373.1 million, partially offset by cash generated from operations of $1,424.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 30,\n2022 Change\nFiscal Years Ended\nOctober 1,\n2021 Change\nOctober 2,\n2020\n$ 5,485.5 7.4% $ 5,109.1 52.3% $ 3,355.7\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal\nquarters (which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in\nanticipation of increased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2022, as compared to fiscal 2021, was driven primarily by the Acquisition in the fourth quarter of fiscal 2021 to\nsupport high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor control, power supply, 5G wireless\ninfrastructure, optical data communication and data center, and smart home. The increase in net revenue was also driven in part by an increase in\ndemand for next-generation wireless connectivity products, including 5G and advanced Wi-Fi solutions, from major OEMs and the associated increases in\naverage content per device for these products, offset by a decrease in demand for our mobile products from smartphone customers in China.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit Fiscal Years Ended\nOctober 1,\nSeptember 30,\n2022 Change\n2021 Change\nOctober 2,\n2020\n$ 2,604.3 3.7% $ 2,512.4 55.8% $ 1,612.9\n% of net revenue 47.5 % 49.2 % 48.1 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead\n(including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory step-up expense) associated with\nproduct manufacturing. As part of our normal course of business, we intend to improve gross profit with efforts to increase unit volumes, improve\nmanufacturing efficiencies, lower manufacturing costs of existing products, and by introducing new and higher value-added products.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_revenue",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "net revenue 5485.5m",
      "golden_context": "Page 33:\n\nGeneral\nflows:\nDuring the fiscal year ended September 30, 2022, the following key factors contributed to our overall results of operations, financial position, and cash\n• Net revenue increased 7.4% to $5,485.5 million in fiscal 2022, as compared to $5,109.1 million in fiscal 2021. This increase in revenue was\ndriven primarily by our acquisition in the fourth quarter of fiscal 2021 of the Infrastructure and Automotive business of Silicon Laboratories Inc.\n(the “Acquisition”) to support high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor\ncontrol, power supply, 5G wireless infrastructure, optical data communication and data center, and smart home. The increase in net revenue\nwas also driven in part by an increase in demand for next-generation wireless connectivity products, including for 5G and advanced Wi-Fi\nsolutions, from major OEMs and the associated increases in average content per device for these products, offset by a decrease in demand for\nour mobile products from smartphone customers in China.\n• Our ending cash, cash equivalents, and marketable securities balance decreased 43% to $586.8 million in fiscal 2022, as compared to\n$1,027.2 million in fiscal 2021. The decrease in cash, cash equivalents, and marketable securities during fiscal 2022 was primarily due to the\nrepurchase of 6.5 million shares of common stock for $886.8 million, capital expenditures of $489.4 million, and dividend payments of\n$373.1 million, partially offset by cash generated from operations of $1,424.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 30,\n2022 Change\nFiscal Years Ended\nOctober 1,\n2021 Change\nOctober 2,\n2020\n$ 5,485.5 7.4% $ 5,109.1 52.3% $ 3,355.7\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal\nquarters (which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in\nanticipation of increased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2022, as compared to fiscal 2021, was driven primarily by the Acquisition in the fourth quarter of fiscal 2021 to\nsupport high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor control, power supply, 5G wireless\ninfrastructure, optical data communication and data center, and smart home. The increase in net revenue was also driven in part by an increase in\ndemand for next-generation wireless connectivity products, including 5G and advanced Wi-Fi solutions, from major OEMs and the associated increases in\naverage content per device for these products, offset by a decrease in demand for our mobile products from smartphone customers in China.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit Fiscal Years Ended\nOctober 1,\nSeptember 30,\n2022 Change\n2021 Change\nOctober 2,\n2020\n$ 2,604.3 3.7% $ 2,512.4 55.8% $ 1,612.9\n% of net revenue 47.5 % 49.2 % 48.1 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead\n(including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory step-up expense) associated with\nproduct manufacturing. As part of our normal course of business, we intend to improve gross profit with efforts to increase unit volumes, improve\nmanufacturing efficiencies, lower manufacturing costs of existing products, and by introducing new and higher value-added products.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_revenue_growth",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "net revenue 5485.5m, prior year 5109.1m",
      "golden_context": "Page 33:\n\nGeneral\nflows:\nDuring the fiscal year ended September 30, 2022, the following key factors contributed to our overall results of operations, financial position, and cash\n• Net revenue increased 7.4% to $5,485.5 million in fiscal 2022, as compared to $5,109.1 million in fiscal 2021. This increase in revenue was\ndriven primarily by our acquisition in the fourth quarter of fiscal 2021 of the Infrastructure and Automotive business of Silicon Laboratories Inc.\n(the “Acquisition”) to support high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor\ncontrol, power supply, 5G wireless infrastructure, optical data communication and data center, and smart home. The increase in net revenue\nwas also driven in part by an increase in demand for next-generation wireless connectivity products, including for 5G and advanced Wi-Fi\nsolutions, from major OEMs and the associated increases in average content per device for these products, offset by a decrease in demand for\nour mobile products from smartphone customers in China.\n• Our ending cash, cash equivalents, and marketable securities balance decreased 43% to $586.8 million in fiscal 2022, as compared to\n$1,027.2 million in fiscal 2021. The decrease in cash, cash equivalents, and marketable securities during fiscal 2022 was primarily due to the\nrepurchase of 6.5 million shares of common stock for $886.8 million, capital expenditures of $489.4 million, and dividend payments of\n$373.1 million, partially offset by cash generated from operations of $1,424.6 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 30,\n2022 Change\nFiscal Years Ended\nOctober 1,\n2021 Change\nOctober 2,\n2020\n$ 5,485.5 7.4% $ 5,109.1 52.3% $ 3,355.7\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design manufacturers and contract\nmanufacturers, and indirectly through electronic components distributors. We generally experience seasonal peaks during our fourth and first fiscal\nquarters (which correspond to the second half of the calendar year), primarily as a result of increased worldwide production of consumer electronics in\nanticipation of increased holiday sales, whereas our second and third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe increase in net revenue in fiscal 2022, as compared to fiscal 2021, was driven primarily by the Acquisition in the fourth quarter of fiscal 2021 to\nsupport high-growth market segments, such as automotive including electric and hybrid vehicles, industrial and motor control, power supply, 5G wireless\ninfrastructure, optical data communication and data center, and smart home. The increase in net revenue was also driven in part by an increase in\ndemand for next-generation wireless connectivity products, including 5G and advanced Wi-Fi solutions, from major OEMs and the associated increases in\naverage content per device for these products, offset by a decrease in demand for our mobile products from smartphone customers in China.\nFor information regarding net revenue by geographic region and customer concentration, see Note 15 to Item 8 of this Annual Report on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit Fiscal Years Ended\nOctober 1,\nSeptember 30,\n2022 Change\n2021 Change\nOctober 2,\n2020\n$ 2,604.3 3.7% $ 2,512.4 55.8% $ 1,612.9\n% of net revenue 47.5 % 49.2 % 48.1 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor, and overhead\n(including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory step-up expense) associated with\nproduct manufacturing. As part of our normal course of business, we intend to improve gross profit with efforts to increase unit volumes, improve\nmanufacturing efficiencies, lower manufacturing costs of existing products, and by introducing new and higher value-added products.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000239_segments",
      "report_id": "ID_000239",
      "company_name": "Skyworks",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 64:\n\nommon stock equivalents 0.7 — 0.1\nBasic earnings per share are calculated by dividing net income by the weighted average number of shares of the Company’s common stock outstanding\nduring the period. The calculation of diluted earnings per share includes the dilutive effect of equity-based awards that were outstanding during the fiscal\nyears ended September 30, 2022, October 1, 2021, and October 2, 2020, using the treasury stock method. Shares issuable upon the vesting of\nperformance stock awards are likewise included in the calculation of diluted earnings per share as of the date the condition(s) have been satisfied,\nassuming the end of the reporting period was the end of the contingency period. Certain of the Company’s outstanding share-based awards, noted in the\ntable above, were excluded because they were anti-dilutive, but they could become dilutive in the future.\n15. SEGMENT INFORMATION AND CONCENTRATIONS\nThe Company has a single reportable operating segment which designs, develops, manufactures, and markets similar proprietary semiconductor\nproducts, including intellectual property. In reaching this conclusion, management considers the definition of the chief operating decision maker\n(“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, and how that information is used to make\noperating decisions, allocate resources, and assess performance. The Company’s CODM is the president and chief executive officer. The results of\noperations provided to and analyzed by the CODM are at the consolidated level and accordingly, key resource decisions and assessment of performance\nare performed at the consolidated level. The Company assesses its determination of operating segments at least annually.\nDisaggregation of Revenue and Geographic Information\nThe Company presents net revenue by geographic area based upon the location of the OEMs’ headquarters and sales channel as it believes that doing\nso best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_cash_flow",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1856.4m, investing: -224.4m, financing: -1479.2m",
      "golden_context": "Page 46-47:\n\nSee Note 8 to Item 8 of this Annual Report on Form 10-K for additional information regarding income taxes.\nLIQUIDITY AND CAPITAL RESOURCES\nSet forth below is a summary of our cash flows for the periods indicated:\n33\nhttps://www.sec.gov/Archives/edgar/data/4127/000000412723000030/swks-20230929.htm 45/92\n17/12/2024, 13:16 swks-20230929\n(in millions)\nCash and cash equivalents at beginning of period Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities Cash and cash equivalents at end of period September 29,\n2023\nFiscal Years Ended\nSeptember 30,\n2022\nOctober 1,\n2021\n$ 566.0 $ 882.9 $ 566.7\n1,856.4 1,424.6 1,772.0\n(224.4) (378.9) (3,133.2)\n(1,479.2) (1,362.6) 1,677.4\n$ 718.8 $ 566.0 $ 882.9\nCash provided by operating activities:\nCash provided by operating activities consists of net income for the period adjusted for certain non-cash items and changes in\ncertain operating assets and liabilities. The $431.8 million increase in cash provided by operating activities for fiscal 2023, as\ncompared to fiscal 2022, was primarily related to favorable changes in working capital of $988.5 million, due primarily to a\ndecrease in accounts receivable and inventory, partially offset by lower net income.\nCash used in investing activities:\nCash used in investing activities consists primarily of capital expenditures and cash paid related to the purchase of marketable\nsecurities, offset by cash received related to the sale or maturity of marketable securities. The $154.5 million decrease in cash used\nin investing activities for fiscal 2023, as compared to fiscal 2022, was primarily related to a decrease of $279.1 million in cash used\nfor capital expenditures, partially offset by a decrease ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_company_type",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended September 29, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________to__________\nCommission file number 001-05560\nSkyworks Solutions, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2302115\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n5260 California Avenue Irvine California 92617\n(Address of principal executive offices) (Zip Code)\n(949) 231-3000\n(Registrant’\ns telephone number, including area code)\nTitle of each class Common Stock, par value $0.25 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) SWKS Securities registered pursuant to Section 12(g) of the Act: None\nName of each exchange on which registered\nNasdaq Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. o Yes þ No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. þ Yes o No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). þ Yes o No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company,\n” in Rule 12b-2\nof the Exchange Act.\nLarge accelerated filerþ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered pub",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_key_financials",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net revenue 4772.4m, gross profit 2107.3m",
      "golden_context": "Page 43:\n\nGeneral\nDuring the fiscal year ended September 29, 2023, the following key factors contributed to our overall results of operations,\nfinancial position, and cash flows:\n• Net revenue decreased 13.0% to $4,772.4 million in fiscal 2023, as compared to $5,485.5 million in fiscal 2022, driven\nprimarily by a decrease in demand for our mobile products from smartphone customers in the Android ecosystem and\nfor our connectivity solutions in consumer and enterprise markets.\n• Our ending cash, cash equivalents, and marketable securities balance increased 26% to $738.5 million in fiscal 2023, as\ncompared to $586.8 million in fiscal 2022. The increase in cash, cash equivalents, and marketable securities during\nfiscal 2023 was primarily due to cash generated from operations of $1,856.4 million, partially offset by\nrepayments of debt of $900.0 million, dividend payments of $405.2 million, and capital expenditures of $210.3 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 4,772.4 (13.0)% $ 5,485.5 7.4% $ 5,109.1\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design\nmanufacturers and contract manufacturers, and indirectly through electronic components distributors. We generally experience\nseasonal peaks during our fourth and first fiscal quarters (which correspond to the second half of the calendar year), primarily as a\nresult of increased worldwide production of consumer electronics in anticipation of increased holiday sales, whereas our second\nand third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe decrease in net revenue in fiscal 2023, as compared to fiscal 2022, was driven primarily by a decrease in demand for our\nmobile products from smartphone customers in the Android ecosystem and for our connectivity solutions in consumer and\nenterprise markets.\nFor information regarding net revenue by geographic region and customer concentration, see Note 14 to Item 8 of this Annual\nReport on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 2,107.3 (19.1)% $ 2,604.3 3.7% $ 2,512.4\n% of net revenue 44.2 % 47.5 % 49.2 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor,\nand overhead (including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory\nstep-up expense) associated with product manufacturing. Erosion of average selling prices of established products is typical of the\nsemiconductor industry. Consistent with trends in the industry, we anticipate that average selling prices for our established products\nwill continue to decline over time. As part of our normal course of business, we intend to improve gross profit with efforts to\nincrease unit volumes, reduce material costs, improve manufacturing efficiencies, lower manufacturing costs of existing products,\nand by introducing new and higher value-added products.\nThe decrease in gross profit in fiscal 2023, as compared to fiscal 2022, was prim",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_revenue",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "net revenue 4772.4m",
      "golden_context": "Page 43:\n\nGeneral\nDuring the fiscal year ended September 29, 2023, the following key factors contributed to our overall results of operations,\nfinancial position, and cash flows:\n• Net revenue decreased 13.0% to $4,772.4 million in fiscal 2023, as compared to $5,485.5 million in fiscal 2022, driven\nprimarily by a decrease in demand for our mobile products from smartphone customers in the Android ecosystem and\nfor our connectivity solutions in consumer and enterprise markets.\n• Our ending cash, cash equivalents, and marketable securities balance increased 26% to $738.5 million in fiscal 2023, as\ncompared to $586.8 million in fiscal 2022. The increase in cash, cash equivalents, and marketable securities during\nfiscal 2023 was primarily due to cash generated from operations of $1,856.4 million, partially offset by\nrepayments of debt of $900.0 million, dividend payments of $405.2 million, and capital expenditures of $210.3 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 4,772.4 (13.0)% $ 5,485.5 7.4% $ 5,109.1\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design\nmanufacturers and contract manufacturers, and indirectly through electronic components distributors. We generally experience\nseasonal peaks during our fourth and first fiscal quarters (which correspond to the second half of the calendar year), primarily as a\nresult of increased worldwide production of consumer electronics in anticipation of increased holiday sales, whereas our second\nand third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe decrease in net revenue in fiscal 2023, as compared to fiscal 2022, was driven primarily by a decrease in demand for our\nmobile products from smartphone customers in the Android ecosystem and for our connectivity solutions in consumer and\nenterprise markets.\nFor information regarding net revenue by geographic region and customer concentration, see Note 14 to Item 8 of this Annual\nReport on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 2,107.3 (19.1)% $ 2,604.3 3.7% $ 2,512.4\n% of net revenue 44.2 % 47.5 % 49.2 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor,\nand overhead (including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory\nstep-up expense) associated with product manufacturing. Erosion of average selling prices of established products is typical of the\nsemiconductor industry. Consistent with trends in the industry, we anticipate that average selling prices for our established products\nwill continue to decline over time. As part of our normal course of business, we intend to improve gross profit with efforts to\nincrease unit volumes, reduce material costs, improve manufacturing efficiencies, lower manufacturing costs of existing products,\nand by introducing new and higher value-added products.\nThe decrease in gross profit in fiscal 2023, as compared to fiscal 2022, was prim",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_revenue_growth",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "net revenue 4772.4m, prior year 5485.5m",
      "golden_context": "Page 43:\n\nGeneral\nDuring the fiscal year ended September 29, 2023, the following key factors contributed to our overall results of operations,\nfinancial position, and cash flows:\n• Net revenue decreased 13.0% to $4,772.4 million in fiscal 2023, as compared to $5,485.5 million in fiscal 2022, driven\nprimarily by a decrease in demand for our mobile products from smartphone customers in the Android ecosystem and\nfor our connectivity solutions in consumer and enterprise markets.\n• Our ending cash, cash equivalents, and marketable securities balance increased 26% to $738.5 million in fiscal 2023, as\ncompared to $586.8 million in fiscal 2022. The increase in cash, cash equivalents, and marketable securities during\nfiscal 2023 was primarily due to cash generated from operations of $1,856.4 million, partially offset by\nrepayments of debt of $900.0 million, dividend payments of $405.2 million, and capital expenditures of $210.3 million.\nNet Revenue\n(dollars in millions)\nNet revenue September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 4,772.4 (13.0)% $ 5,485.5 7.4% $ 5,109.1\nWe market and sell our products directly to OEMs of communications and electronics products, third-party original design\nmanufacturers and contract manufacturers, and indirectly through electronic components distributors. We generally experience\nseasonal peaks during our fourth and first fiscal quarters (which correspond to the second half of the calendar year), primarily as a\nresult of increased worldwide production of consumer electronics in anticipation of increased holiday sales, whereas our second\nand third fiscal quarters are typically lower and in line with seasonal industry trends.\nThe decrease in net revenue in fiscal 2023, as compared to fiscal 2022, was driven primarily by a decrease in demand for our\nmobile products from smartphone customers in the Android ecosystem and for our connectivity solutions in consumer and\nenterprise markets.\nFor information regarding net revenue by geographic region and customer concentration, see Note 14 to Item 8 of this Annual\nReport on Form 10-K.\nGross Profit\n(dollars in millions)\nGross profit September 29,\n2023 Change\nFiscal Years Ended\nSeptember 30,\n2022 Change\nOctober 1,\n2021\n$ 2,107.3 (19.1)% $ 2,604.3 3.7% $ 2,512.4\n% of net revenue 44.2 % 47.5 % 49.2 %\nGross profit represents net revenue less cost of goods sold. Our cost of goods sold consists primarily of purchased materials, labor,\nand overhead (including depreciation, share-based compensation, and amortization of acquisition intangibles, including inventory\nstep-up expense) associated with product manufacturing. Erosion of average selling prices of established products is typical of the\nsemiconductor industry. Consistent with trends in the industry, we anticipate that average selling prices for our established products\nwill continue to decline over time. As part of our normal course of business, we intend to improve gross profit with efforts to\nincrease unit volumes, reduce material costs, improve manufacturing efficiencies, lower manufacturing costs of existing products,\nand by introducing new and higher value-added products.\nThe decrease in gross profit in fiscal 2023, as compared to fiscal 2022, was prim",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000240_segments",
      "report_id": "ID_000240",
      "company_name": "Skyworks",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 77:\n\nn stock outstanding during the period. The calculation of diluted earnings per share includes the dilutive effect of equity-\nbased awards that were outstanding during the fiscal years ended September 29, 2023, September 30, 2022, and October 1, 2021,\nusing the treasury stock method. Shares issuable upon the vesting of performance stock awards are likewise included in the\ncalculation of diluted earnings per share as of the date the condition(s) have been satisfied, assuming the end of the reporting period\nwas the end of the contingency period. Certain of the Company’s outstanding share-based awards, noted in the table above, were\nexcluded because they were anti-dilutive, but they could become dilutive in the future.\n14. SEGMENT INFORMATION AND CONCENTRATIONS\nThe Company has a single reportable operating segment which designs, develops, manufactures, and markets similar proprietary\nsemiconductor products, including intellectual property. In reaching this conclusion, management considers the definition of the\nchief operating decision maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to\nthe CODM, and how that information is used to make operating decisions, allocate resources, and assess performance. The\nCompany’s CODM is the president and chief executive officer. The results of operations provided to and analyzed by the CODM\nare at the consolidated level and accordingly, key resource decisions and assessment of performance are performed at the\nconsolidated level. The Company assesses its determination of operating segments at least annually.\nDisaggregation of Revenue and Geographic Information\nThe Company presents net revenue by geographic area based upon the location of the OEMs’ headquarters and sales channel as it\nbelieves that doing so best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affecte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_cash_flow",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1323.7m, investing: -91m, financing: -666m, total cash flow: 581.4m",
      "golden_context": "Page 71:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFiscal Year Ended\n—\n—\n—\n—\n—\nJuly 3,\n2021\nJune 27,\n2020\n(millions)\nJune 29,\n2019\nCASH FLOWS PROVIDED BY OPERATING ACTIVITIES\nNet income (loss) Adjustments to reconcile net income to net cash provided by operating activities:\n$ 834.2 $ (652.1) $ 643.4\nDepreciation and amortization 218.7 248.3 268.2\nImpairment charges 45.8 813.5 Provision for bad debt 2.8 26.0 7.1\nShare-based compensation 64.1 53.1 84.8\nAcceleration program charges 5.1 24.8 Integration and restructuring activities— 14.0 32.5\nDeferred income taxes 52.6 (115.7) 34.5\nChanges to lease related balances, net (125.6) 73.1 Gain on sale of building (13.2)— Gain on deferred purchase price (12.5)— Other non-cash charges, net 21.4 2.3 (5.5)\nChanges in operating assets and liabilities:\nTrade accounts receivable (9.6) 61.9 25.7\nInventories 32.2 (58.6) (104.7)\nOther liabilities (16.8) (37.8) (55.8)\nAccounts payable 307.3 (91.7) (39.8)\nAccrued liabilities 140.3 7.6 (28.8)\nOther assets (223.1) 38.3 (69.2)\nNet cash provided by operating activities 1,323.7 407.0 792.4\nCASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES\nAcquisitions, net of cash acquired— — (43.5)\nPurchases of property and equipment (116.0) (205.4) (274.2)\nPurchases of investments (0.7) (212.4) (415.5)\nProceeds from maturities and sales of investments 1.8 462.1 159.0\nProceeds from sale of building 23.9 — Net cash (used in) provided by investing activities (91.0) 44.3 (574.2)\nCASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES\nDividend payments— (380.3) (390.7)\nRepurchase of common stock— (300.0) (100.0)\nProceeds from revolver— 700.0 Repayment of debt (11.5)— —\nProceeds from share-based awards 61.2 4.3 35.3\nRepayment of revolving credit facility (700.0)— Taxes paid to net settle share-based awards (7.5) (14.9) (27.0)\nPayment of deferred purchase price (7.4) (2.4) (2.5)\nPayments of finance lease liabilities (0.8) (0.8) (0.7)\nNet cash (used in) provided by financing activities (666.0) 5.9 (485.6)\nEffect of exchange rate changes on cash and cash equivalents 14.7 (0.1) (6.8)\n(Decrease) increase in cash and cash equivalents 581.4 457.1 (274.2)\nCash and cash equivalents at beginning of year 1,426.3 969.2 1,243.4\nCash and cash equivalents at end of year $ 2,007.7 $ 1,426.3 $ 969.2\nSupplemental information:\nCash paid for income taxes, net $ 251.8 $ 87.2 $ 183.8\nCash paid for interest $ 69.7 $ 68.1 $ 64.1\nNon-cash investing activity – property and equipment obligations $ 14.4 $ 21.1 $ 48.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_company_type",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended July 3, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission file number: 1-16153\nTapestry, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 52-2242751\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n10 Hudson Yards, New York, NY 10001\n(Address of principal executive offices); (Zip Code)\n(212) 946-8400\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $.01 per share Trading Symbol\nTPR Securities Registered Pursuant to Section 12(g) of the Act: None\nName of Each Exchange on which\nRegistered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No\n☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell Company (as defined in Rule 12b-2 of the Act).Yes ☐ No ☑\nThe aggregate market value of Tapestry, Inc. common stock held by non-affiliates as of December 24, 2020 (the last business day of the most recently completed second\nfiscal quarter) was approximately $8.6 billion. For purposes of determining this amount only, the registrant has excluded shares of common stock held by directors and officers.\nExclusion of shares held by any person should not be construed to indicate that such person possesses the power, direct or indirect, to cause the direction of the management or\npolicies of the registrant, or that such person is controlled by or under common control with the registrant.\nOn August 6, 2021, the Registrant had 279,575,180 shares of common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nDocuments Form 10-K Reference\nProxy Statement for the 2021 Annual Meeting of Stockholders Part III, Items 10 – 14",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_key_financials",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Gross profit 4081.9m, net sales 5746.3m",
      "golden_context": "Page 44:\n\ncy Fluctuation Effects\nThe change in net sales and gross margin in fiscal 2021 compared to fiscal 2020 has been presented both including and excluding currency fluctuation\neffects.\nNet Sales\nThe Company has provided comparisons to certain fiscal year 2019 results, which the Company believes is useful to investors and others in evaluating the\nCompany’s results, due to the significant impact of the Covid-19 pandemic on the Company’s operations and financial results, notably in the second half of\nfiscal year 2020.\nFiscal Year Ended Variance\nJuly 3, 2021 June 27, 2020 (millions)\nAmount %\nConstant Currency\nChange\n% Change versus\nFY19\nCoach $ 4,253.1 $ 3,525.7 $ 727.4 20.6 % 18.6 % (0.4)%\nKate Spade 1,210.0 1,149.5 60.5 5.3 4.6 (11.5)\nStuart Weitzman 283.2 286.2 (3.0) (1.0) (3.4) (27.3)\nTotal Tapestry $ 5,746.3 $ 4,961.4 $ 784.9 15.8 14.1 (4.7)\nNet sales in fiscal 2021 increased 15.8% or $784.9 million to $5.75 billion. Excluding the impact of foreign currency, net sales increased by 14.1% or\n$699.0 million. Included in net sales of $5.75 billion in fiscal 2021 is the favorable impact of the 53rd week, which resulted in incremental net revenues of\n$92.7 million.\n• Coach Net Sales increased 20.6% or $727.4 million to $4.25 billion in fiscal 2021. Excluding the impact of foreign currency, net sales increased\n18.6% or $656.4 million. The following discussion is presented excluding the favorable impact of the 53rd week to net sales of $67.7 million and the\nimpact of foreign currency. This increase is primarily attributed to a net increase of $517.5 million in net global retail sales driven by higher global e-\ncommerce sales and store sales in mainland China, partially offset by lower store sales in North America, Europe and Other Asia, including Japan.\nWholesale sales also increased $64.8 million primarily due to growth of the wholesale business in mainland China.\n• Kate Spade Net Sales increased 5.3% or $60.5 million to $1.21 billion in fiscal 2021. Excluding the impact of foreign currency, net sales increased\n4.6% or $52.5 million. The following discussion is presented excluding the favorable impact of the 53rd week to net sales of $21.7 million and the\nimpact of foreign currency. This increase is primarily due to a net increase of $79.5 million in net global retail sales driven by higher global e-\ncommerce sales, partially offset by lower stores sales in Other Asia, notably Japan, North America and Europe, due to the Covid-19 outbreak. This\nwas partially offset by a decrease in wholesale sales of $50.8 million due to the strategic pullback in disposition and lower demand as a result of the\nCovid-19 outbreak.\n• Stuart Weitzman Net Sales decreased by 1.0% or $3.0 million to $283.2 million in fiscal 2021. Excluding the impact of foreign currency, net sales\ndecreased 3.4% or $9.9 million. The following discussion is presented excluding the favorable impact of the 53rd week to net sales of $3.3 million\nand the impact of foreign currency. This decrease is primarily due to a decline in the retail business of $16.1 million primarily driven by store\nclosures related to fleet optimization under the Acceleration Program and market exits, partially offset by increase in store sales in mainland China\nand an increase in global e-commerce sales.\n\nPage 45:\n\nGross Profit\nFiscal Year Ended\nJuly 3, 2021 June 27, 2020 Variance\n(millions)\nAmount % of Net Sales Amount % of Net Sales Amount %\nCoach $ 3,149.0 74.0 % $ 2,411.6 68.4 % $ 737.4 30.6 %\nKate Spade 768.4 63.5 682.9 59.4 85.5 12.5\nStuart Weitzman 164.5 58.1 144.8 50.6 19.7 13.6\nTapestry $ 4,081.9 71.0 $ 3,239.3 65.3 $ 842.6 26.0\nGross profit increased 26.0% or $842.6 million to $4.08 billion in fiscal 2021 from $3.24 billion in fiscal 2020. Gross margin for fiscal 2021 was 71.0%\nas compared to 65.3% in fiscal 2020. Excluding items affecting comparability of a reduction of expense of $8.1 million in fiscal 2021 and $118.0 million in\nfiscal 2020, as discussed in the \"GAAP to Non-GAAP Reconciliation\" herein, gross profit increased 21.3% or $716.5 million to $4.07 billion in fiscal 2021,\nand gross margin increased 320 basis points to 70.9% in fiscal 2021 and 67.7% in fiscal 2020 and was not materially impacted by foreign currency.\nThe Company includes inbound product-related transportation costs from our service providers within Cost of sales. The Company includes certain\ntransportation-related costs due to our distribution network in SG&A expenses rather than in Cost of sales; for this reason, our gross margins may not be\ncomparable to that of entities that include all costs related to their distribution network in Cost of sales.\n• Coach Gross Profit increased 30.6% or $737.4 million to $3.15 billion in fiscal 2021 from $2.41 billion in fiscal 2020. Gross margin increased to\n74.0% in fiscal 2021 as compared to 68.4% in fiscal 2020. Excluding items affecting comparability of a reduction of expense of $8.1 million and\n$62.0 million in fiscal 2021 and fiscal 2020, respectively, Coach gross profit increased 27.0% or $667.3 million to $3.14 billion from $2.47 billion in\nfiscal 2020, and gross margin increased 370 basis points to 73.9% from 70.2% in fiscal 2020 and was not materially impacted by foreign currency.\nThis increase in gross margin is primarily attributed to reduced promotional activity.\n• Kate Spade Gross Profit increased 12.5% or $85.5 million to $768.4 million in fiscal 2021 from $682.9 million in fiscal 2020. Gross margin\nincreased to 63.5% in fiscal 2021 from 59.4% in fiscal 2020. Excluding items affecting comparability of $33.5 million in fiscal 2020, Kate Spade\ngross profit increased 7.3% or $52.0 million to $768.4 million from $716.4 million in fiscal 2020, and gross margin increased 120 basis points to\n63.5% from 62.3% in fiscal 2020 and was not materially impacted by foreign currency. This gross margin increase of 120 basis points is primarily\ndue to reduced promotional activity and a strategic pullback in disposition, partially offset by higher inbound freight and duty expenses.\n• Stuart Weitzman Gross Profit increased 13.6% or $19.7 million to $164.5 million in fiscal 2021 from $144.8 million in fiscal 2020. Gross margin\nincreased 750 basis points to 58.1% in fiscal 2021 from 50.6% in fiscal 2020. Excluding items affecting comparability of $22.5 million in fiscal\n2020, Stuart Weitzman gross profit decreased 1.7% or $2.8 million to $164.5 million from $167.3 million in fiscal 2020, and gross margin decreased\n40 basis points to 58.1% in fiscal 2021 from 58.5% in fiscal 2020. On a constant currency basis, gross margin decreased 260 basis points. This\ndecrease in gross margin is primarily due to channel mix and increased promotional activity.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_revenue",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 5746.3m",
      "golden_context": "Page 68:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 3,\n2021\nJune 27,\n2020\nJune 29,\n2019\n(millions, except per share data)\nNet sales $ 5,746.3 $ 4,961.4 $ 6,027.1\nCost of sales 1,664.4 1,722.1 1,973.4\nGross profit 4,081.9 3,239.3 4,053.7\nOther selling, general and administrative expenses 3,113.9 3,312.4 3,234.0\nImpairment of goodwill and intangible assets— 477.7 —\nOperating income (loss) 968.0 (550.8) 819.7\nInterest expense, net 71.4 60.1 47.9\nOther expense (income) (0.7) 13.3 5.6\nIncome (loss) before provision for income taxes 897.3 (624.2) 766.2\nProvision for income taxes 63.1 27.9 122.8\nNet income (loss) $ 834.2 $ (652.1) $ 643.4\nNet income (loss) per share:\nBasic Diluted $ 3.00 $ (2.34) $ 2.22\n$ 2.95 $ (2.34) $ 2.21\nShares used in computing net income (loss) per share:\nBasic 277.9 278.6 289.4\nDiluted 283.0 278.6 290.8\nCash dividends declared per common share $ — $ 1.013 $ 1.350\nSee accompanying Notes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_revenue_growth",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 5746.3m, prior year 4961.4m",
      "golden_context": "Page 68:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 3,\n2021\nJune 27,\n2020\nJune 29,\n2019\n(millions, except per share data)\nNet sales $ 5,746.3 $ 4,961.4 $ 6,027.1\nCost of sales 1,664.4 1,722.1 1,973.4\nGross profit 4,081.9 3,239.3 4,053.7\nOther selling, general and administrative expenses 3,113.9 3,312.4 3,234.0\nImpairment of goodwill and intangible assets— 477.7 —\nOperating income (loss) 968.0 (550.8) 819.7\nInterest expense, net 71.4 60.1 47.9\nOther expense (income) (0.7) 13.3 5.6\nIncome (loss) before provision for income taxes 897.3 (624.2) 766.2\nProvision for income taxes 63.1 27.9 122.8\nNet income (loss) $ 834.2 $ (652.1) $ 643.4\nNet income (loss) per share:\nBasic Diluted $ 3.00 $ (2.34) $ 2.22\n$ 2.95 $ (2.34) $ 2.21\nShares used in computing net income (loss) per share:\nBasic 277.9 278.6 289.4\nDiluted 283.0 278.6 290.8\nCash dividends declared per common share $ — $ 1.013 $ 1.350\nSee accompanying Notes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000241_segments",
      "report_id": "ID_000241",
      "company_name": "Tapestry",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: Coach, Kate Space, Stuart Weitzman",
      "golden_context": "Page 4:\n\nzation: Moving with greater agility, simplifying internal processes and empowering\nteams to act quickly to meet the rapidly changing needs of the consumer. The Company achieved approximately $200 million of gross run rate\nexpense savings in fiscal 2021 and remains on track to realize gross run-rate savings of $300 million.\nCovid-19 Impact\nOur business has been significantly impacted by Covid-19. In response, the Company took strategic actions to reinforce its liquidity and financial\nflexibility, as well as to comply with local regulations to protect employees and customers. While the ongoing pandemic continues to present challenges, such\nas the supply chain related pressures facing the industry, store closures and other additional actions necessary to protect our stakeholders, the Company has\nbeen adapting to the current environment by remaining flexible in the short-term while continuing to focus on its long-term strategy and multi-year growth\nagenda.\nOUR BRANDS\nThe Company has three reportable segments:\n• Coach includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-\nshops, and sales to wholesale customers and through independent third party distributors. This segment represented 74.0% of total net sales in fiscal\n2021.\n• Kate Spade includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-\ncommerce sites, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. This segment\nrepresented 21.1% of total net sales in fiscal 2021.\n• Stuart Weitzman includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, including e-commerce\nsites, sales to wholesale customers and through independent third party distributors. This segment represented 4.9% of total net sales in fiscal 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_cash_flow",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 853.2m, investing: -253.6m, -1778.1m, total cash flow: -1217.9m",
      "golden_context": "Page 47:\n\nINANCIAL CONDITION\nCash Flows - Fiscal 2022 Compared to Fiscal 2021\nFiscal Year Ended\nJuly 2,\n2022\nJuly 3,\n2021 Change\n(millions)\nNet cash provided by (used in) operating activities $ 853.2 $ 1,323.7 $ (470.5)\nNet cash provided by (used in) investing activities (253.6) (91.0) (162.6)\nNet cash provided by (used in) financing activities (1,778.1) (666.0) (1,112.1)\nEffect of exchange rate changes on cash and cash equivalents (39.4) 14.7 (54.1)\nNet increase (decrease) in cash and cash equivalents $ (1,217.9) $ 581.4 $ (1,799.3)\nThe Company’s cash and cash equivalents decreased by $1.22 billion in fiscal 2022 compared to an increase of $581.4 million in fiscal 2021, as discussed\nbelow.\nNet cash provided by (used in) operating activities\nNet cash provided by operating activities decreased $470.5 million primarily due to changes in operating assets and liabilities of $597.1 million, partially\noffset by the loss on extinguishment of debt of $53.7 million, the impact of non-cash charges of $50.8 million and higher net income of $22.1 million.\nThe $597.1 million change in our operating asset and liability balances was primarily driven by:\n• Inventories were a use of cash of $311.7 million in fiscal 2022 as compared to a source of cash of $32.2 million in fiscal 2021, primarily driven by\nhigher receipts, increased in-transit levels due to longer lead times and increased inbound freight costs compared to prior year.\n• Accounts payable were a source of cash of $86.4 million in fiscal 2022 as compared to a source of cash of $307.3 million in fiscal 2021, primarily\ndue to the extension of payment terms with certain vendors in fiscal 2021 and higher inventory in-transit in fiscal 2022.\n• Other assets were a use of cash of $20.2 million in fiscal 2022 as compared to a use of cash of $223.1 million in fiscal 2021, primarily attributed to\nincome tax receivables including the NOL carryback claim under the CARES Act filed in fiscal 2021 and the timing of payments and other refunds\nin the U.S.\n• Accrued liabilities were a use of cash of $16.1 million in fiscal 2022 as compared to a source of cash of $140.3 million in fiscal 2021, primarily\nattributed to the Annual Incentive Plan payment as the Company did not pay out during fiscal 2021 (for performance during fiscal year 2020) offset\nby increased distribution costs driven by higher sales and inbound freight.\nNet cash provided by (used in) investing activities\nNet cash used in investing activities was $253.6 million in fiscal 2022 compared to a use of cash of $91.0 million in fiscal 2021, resulting in a $162.6\nmillion increase in net cash used in investing activities.\nThe $253.6 million use of cash in fiscal 2022 is primar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_company_type",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended July 2, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission file number: 1-16153\nTapestry, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 52-2242751\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n10 Hudson Yards, New York, NY 10001\n(Address of principal executive offices); (Zip Code)\n(212) 946-8400\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $.01 per share Trading Symbol\nTPR Name of Each Exchange on which\nRegistered\nNew York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No\n☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell Company (as defined in Rule 12b-2 of the Act).Yes ☐ No ☑\nThe aggregate market value of Tapestry, Inc. common stock held by non-affiliates as of December 31, 2021 (the last business day of the most recently completed second\nfiscal quarter) was approximately $10.6 billion. For purposes of determining this amount only, the registrant has excluded shares of common stock held by directors and\nofficers. Exclusion of shares held by any person should not be construed to indicate that such person possesses the power, direct or indirect, to cause the direction of the\nmanagement or policies of the registrant, or that such person is controlled by or under common control with the registrant.\nOn August 5, 2022, the Registrant had 241,218,609 shares of common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nDocuments\nProxy Statement for the 2022 Annual Meeting of Stockholders Form 10-K Re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_key_financials",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 6684.5m, gross profit: 4650.4m, net income 856.3m, net income per share basic 3.23, diluted 3.17",
      "golden_context": "Page 38:\n\nISCAL 2022 COMPARED TO FISCAL 2021\nThe following table summarizes results of operations for fiscal 2022 compared to fiscal 2021. All percentages shown in the tables below and the related\ndiscussion that follows have been calculated using unrounded numbers.\nFiscal Year Ended\nJuly 2, 2022 July 3, 2021 Variance\n(millions, except per share data)\n% of\n% of\nAmount\nnet sales Amount\nnet sales Amount %\nNet sales $ 6,684.5 100.0 % $ 5,746.3 100.0 % $ 938.2 16.3 %\nGross profit 4,650.4 69.6 4,081.9 71.0 568.5 13.9\nSG&A expenses 3,474.6 52.0 3,113.9 54.2 360.7 11.6\nOperating income (loss) 1,175.8 17.6 968.0 16.8 207.8 21.5\nLoss on extinguishment of debt 53.7 0.8\n—\n—\n53.7 NM\nInterest expense, net 58.7 0.9 71.4 1.2 (12.7) (17.7)\nOther expense (income) 16.4 0.2 (0.7) —\n17.1 NM\nIncome (Loss) before provision for income taxes 1,047.0 15.7 897.3 15.6 149.7 16.7\nProvision for income taxes 190.7 2.9 63.1 1.1 127.6 NM\nNet income (loss) 856.3 12.8 834.2 14.5 22.1 2.7\nNet income (loss) per share:\nBasic $ 3.24 $ 3.00 $ 0.24 8.0\nDiluted $ 3.17 $ 2.95 $ 0.22 7.5\nNM - Not meaningful\nGAAP to Non-GAAP Reconciliation\nThe Company’s reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”).\nThe reported results during fiscal 2022 and fiscal 2021 reflect certain items which affect the comparability of our results, as noted in the following tables.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_revenue",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 6684.5m",
      "golden_context": "Page 65:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 2,\n2022\nJuly 3,\n2021\nJune 27,\n2020\n(millions, except per share data)\nNet sales $ 6,684.5 $ 5,746.3 $ 4,961.4\nCost of sales 2,034.1 1,664.4 1,722.1\nGross profit 4,650.4 4,081.9 3,239.3\nOther selling, general and administrative expenses 3,474.6 3,113.9 3,312.4\nImpairment of goodwill and intangible assets—\n—\n477.7\nOperating income (loss) 1,175.8 968.0 (550.8)\nLoss on extinguishment of debt 53.7\n—\n—\nInterest expense, net 58.7 71.4 60.1\nOther expense (income) 16.4 (0.7) 13.3\nIncome (loss) before provision for income taxes 1,047.0 897.3 (624.2)\nProvision for income taxes 190.7 63.1 27.9\nNet income (loss) $ 856.3 $ 834.2 $ (652.1)\nNet income (loss) per share:\nBasic Diluted $ 3.24 $ 3.00 $ (2.34)\n$ 3.17 $ 2.95 $ (2.34)\nShares used in computing net income (loss) per share:\nBasic 264.3 277.9 278.6\nDiluted 270.1 283.0 278.6\nSee accompanying Notes.\n63",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_revenue_growth",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 6684.5m, prior year 5746.3m",
      "golden_context": "Page 65:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 2,\n2022\nJuly 3,\n2021\nJune 27,\n2020\n(millions, except per share data)\nNet sales $ 6,684.5 $ 5,746.3 $ 4,961.4\nCost of sales 2,034.1 1,664.4 1,722.1\nGross profit 4,650.4 4,081.9 3,239.3\nOther selling, general and administrative expenses 3,474.6 3,113.9 3,312.4\nImpairment of goodwill and intangible assets—\n—\n477.7\nOperating income (loss) 1,175.8 968.0 (550.8)\nLoss on extinguishment of debt 53.7\n—\n—\nInterest expense, net 58.7 71.4 60.1\nOther expense (income) 16.4 (0.7) 13.3\nIncome (loss) before provision for income taxes 1,047.0 897.3 (624.2)\nProvision for income taxes 190.7 63.1 27.9\nNet income (loss) $ 856.3 $ 834.2 $ (652.1)\nNet income (loss) per share:\nBasic Diluted $ 3.24 $ 3.00 $ (2.34)\n$ 3.17 $ 2.95 $ (2.34)\nShares used in computing net income (loss) per share:\nBasic 264.3 277.9 278.6\nDiluted 270.1 283.0 278.6\nSee accompanying Notes.\n63",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000242_segments",
      "report_id": "ID_000242",
      "company_name": "Tapestry",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: Coach, Kate Space, Stuart Weitzman",
      "golden_context": "Page 4:\n\n020, the Company announced and embarked on a strategic multi-year growth plan (the \"Acceleration Program\"). The guiding principle under\nthe Acceleration Program is to better meet the needs of each of its brands' unique customers by:\n• Sharpening our Focus on the Consumer: Operating with a clearly defined purpose and strategy for each brand and an unwavering focus on the\nconsumer at the core of everything we do.\n• Leveraging Data and Leading with a Digital-First Mindset: Building significant data and analytics capabilities to drive decision-making and\nincrease efficiency; Offering immersive customer experiences across our e-commerce and social channels to meet the needs of consumers who are\nincreasingly utilizing digital platforms to engage with brands; Rethinking the role of stores with an intent to optimize our fleet.\n• Transforming into a Leaner and More Responsive Organization: Moving with greater agility, simplifying internal processes and empowering\nteams to act quickly to meet the rapidly changing needs of the consumer. The Company achieved approximately $200 million and $300 million of\nannual gross run rate expense savings in fiscal 2021 and fiscal 2022, respectively.\nThe Company does not expect to incur expenses related to the Acceleration Program in the fiscal year ending July 1, 2023 (\"fiscal 2023\").\nCovid-19 Impact\nThe outbreak of Covid-19 has continued to impact a significant majority of the regions in which we operate, resulting in significant global business\ndisruptions. In response, the Company took strategic actions to reinforce its liquidity and financial flexibility, as well as to comply with local regulations to\nprotect employees and customers. While the ongoing pandemic continues to present challenges, such as the supply chain related pressures facing the industry,\nincreased freight costs, temporary closures and other additional necessary actions to protect our stakeholders, the Company has been adapting to the current\nenvironment by remaining flexible in the short-term while continuing to focus on its long-term strategy and multi-year growth agenda.\nOUR BRANDS\nThe Company has three reportable segments:\n• Coach includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-\nshops, and sales to wholesale customers and through independent third party distributors. This segment represented 73.6% of total net sales in fiscal\n2022.\n• Kate Spade includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-\ncommerce sites and concession shop-in-shops, sales to wholesale customers and through independent third party distributors. This segment\nrepresented 21.6% of total net sales in fiscal 2022.\n• Stuart Weitzman includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale\ncustomers, through e-commerce sites and through independent third party distributors. This segment represented 4.8% of total net sales in fiscal\n2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_cash_flow",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 975.2m, investing: 5.7m, financing: -1035.9m, total cash flow -63.7m",
      "golden_context": "Page 45:\n\nFINANCIAL CONDITION\nCash Flows - Fiscal 2023 Compared to Fiscal 2022\nFiscal Year Ended\nJuly 1,\n2023\nJuly 2,\n2022 Change\n(millions)\nNet cash provided by (used in) operating activities $ 975.2 $ 853.2 $ 122.0\nNet cash provided by (used in) investing activities 5.7 (253.6) 259.3\nNet cash provided by (used in) financing activities (1,035.9) (1,778.1) 742.2\nEffect of exchange rate changes on cash and cash equivalents (8.7) (39.4) 30.7\nNet increase (decrease) in cash and cash equivalents $ (63.7) $ (1,217.9) $ 1,154.2\nThe Company’s cash and cash equivalents decreased by $63.7 million in fiscal 2023 compared to a decrease of $1.22 billion in fiscal 2022, as discussed\nbelow.\nNet cash provided by (used in) operating activities\nNet cash provided by operating activities increased $122.0 million primarily due to changes in operating assets and liabilities of $149.9 million and higher\nnet income of $79.7 million, partially offset by lower impact of non-cash adjustments of $107.6 million.\nThe $149.9 million change in our operating asset and liability balances was primarily driven by:\n• Inventories were a source of cash of $49.9 million in fiscal 2023 as compared to a use of cash of $311.7 million in fiscal 2022, primarily driven by\nlower in-transits and receipts due to the strategic decision to pull back on receipts as well as normalization of lead times.\n• Trade accounts receivable were a source of cash of $44.1 million in fiscal 2023 as compared to a use of cash of $96.0 million in fiscal 2022, primarily\ndriven by higher wholesale sales in fiscal 2022 compared to fiscal 2021.\n• Accounts payable were a use of cash of $98.1 million in fiscal 2023 as compared to a source of cash of $86.4 million in fiscal 2022, primarily driven\nby lower in-transit inventory and receipts compared to prior year due to the strategic decision to pull back on receipts.\n• Accrued liabilities were a use of cash of $93.0 million in fiscal 2023 as compared to a use of cash of $16.1 million in fiscal 2022, primarily driven by\na decrease in accruals for the Annual Incentive Plan, a decrease in accrued freight and duty, partially offset by an increase in accrued interest due to\nthe net investment hedge and the timing of income tax payments.\n• Other liabilities were a use of cash of $61.1 million in fiscal 2023 as compared to a use of cash of $9.2 million in fiscal 2022, primarily driven by\nlower long-term transition tax due to timing of payment schedule.\nNet cash provided by (used in) investing activities\nNet cash provided by investing activities was $5.7 million in fiscal 2023 compared to a use of cash of $253.6 million in fiscal 2022, resulting in a $259.3\nmillion increase in net cash provided by investing activities.\nThe $5.7 million source of cash in fiscal 2023 is primarily due to proceeds from maturities and sales of investments of $148.0 million, settlement of net\ninvestment hedge of $41.9 million, partially offset by capital expenditures of $184.2 million.\nThe $253.6 million use of cash in fiscal 2022 is primarily due to purchases of investments of $540.4 million and capital expenditures of $93.9 million,\npartially offset by proceeds from maturities and sales of investments of $380.7 million.\nNet cash provided by (used in) financing activities\nNet cash used in financing activities was $1.04 billion in fiscal 2023 as compared to a use of cash of $1.78 billion in fiscal 2022, resulting in a $742.2\nmillion decrease in net cash used in financing activities.\nThe $1.04 billion use of cash in fiscal 2023 was primarily due to repurchase of co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_company_type",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended July 1, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission file number: 1-16153\nTapestry, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 52-2242751\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n10 Hudson Yards, New York, NY 10001\n(Address of principal executive offices); (Zip Code)\n(212) 946-8400\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, par value $.01 per share Trading Symbol\nTPR Name of Each Exchange on which\nRegistered\nNew York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No\n☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the\ncorrection of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the\nregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell Company (as defined in Rule 12b-2 of the Act).Yes ☐ No ☑\nThe aggregate market value of Tapestry, Inc. common stock held by non-affiliates as of December 30, 2022 (the last business day of the most recently completed second\nfiscal quarter) was approximately $9.0 billion. For purposes of determining this amount only, the registrant has excluded shares of common stock held by directors and\nexecutive officers. Exclusion of shares held by any person should not be construed to indicate that such person possesses the power, d",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_key_financials",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 6660.9m, gross profit 4714.9m, net income 936m, net income per share basic 3.96",
      "golden_context": "Page 39:\n\nRESULTS OF OPERATIONS\nFISCAL 2023 COMPARED TO FISCAL 2022\nThe following table summarizes results of operations for fiscal 2023 compared to fiscal 2022. All percentages shown in the tables below and the related\ndiscussion that follows have been calculated using unrounded numbers.\nFiscal Year Ended\nJuly 1, 2023 July 2, 2022 Variance\n(millions, except per share data)\n% of\n% of\nAmount\nnet sales Amount\nnet sales Amount %\nNet sales $ 6,660.9 100.0 % $ 6,684.5 100.0 % $ (23.6) (0.4)%\nGross profit 4,714.9 70.8 4,650.4 69.6 64.5 1.4\nSG&A expenses 3,542.5 53.1 3,474.6 52.0 67.9 2.0\nOperating income (loss) 1,172.4 17.6 1,175.8 17.6 (3.4) (0.3)\nLoss on extinguishment of debt— — 53.7 0.8 (53.7) NM\nInterest expense, net 27.6 0.4 58.7 0.9 (31.1) (53.0)\nOther expense (income) 1.7 — 16.4 0.2 (14.7) (89.5)\nIncome (Loss) before provision for income taxes 1,143.1 17.2 1,047.0 15.7 96.1 9.2\nProvision for income taxes 207.1 3.1 190.7 2.9 16.4 8.6\nNet income (loss) 936.0 14.1 856.3 12.8 79.7 9.3\nNet income (loss) per share:\nBasic $ 3.96 $ 3.24 $ 0.72 22.2\nDiluted $ 3.88 $ 3.17 $ 0.71 22.3\nNM - Not meaningful\nGAAP to Non-GAAP Reconciliation\nThe Company’s reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”).\nThere were no charges affecting comparability during fiscal 2023. The reported results during fiscal 2022 reflect certain items which affect the comparability\nof our results, as noted in the following tables. Refer to \"Non-GAAP Measures\" herein for further discussion on the Non-GAAP measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_revenue",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 6660.9m ",
      "golden_context": "Page 67:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 1,\n2023\nJuly 2,\n2022\nJuly 3,\n2021\n(millions, except per share data)\nNet sales $ 6,660.9 $ 6,684.5 $ 5,746.3\nCost of sales 1,946.0 2,034.1 1,664.4\nGross profit 4,714.9 4,650.4 4,081.9\nSelling, general and administrative expenses 3,542.5 3,474.6 3,113.9\nOperating income (loss) 1,172.4 1,175.8 968.0\nLoss on extinguishment of debt— 53.7 —\nInterest expense, net 27.6 58.7 71.4\nOther expense (income) 1.7 16.4 (0.7)\nIncome (loss) before provision for income taxes 1,143.1 1,047.0 897.3\nProvision for income taxes 207.1 190.7 63.1\nNet income (loss) $ 936.0 $ 856.3 $ 834.2\nNet income (loss) per share:\nBasic Diluted $ 3.96 $ 3.24 $ 3.00\n$ 3.88 $ 3.17 $ 2.95\nShares used in computing net income (loss) per share:\nBasic 236.4 264.3 277.9\nDiluted 241.3 270.1 283.0\nSee accompanying Notes.\n64",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_revenue_growth",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 6660.9m, prior year 6684.5m",
      "golden_context": "Page 67:\n\nTAPESTRY, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFiscal Year Ended\nJuly 1,\n2023\nJuly 2,\n2022\nJuly 3,\n2021\n(millions, except per share data)\nNet sales $ 6,660.9 $ 6,684.5 $ 5,746.3\nCost of sales 1,946.0 2,034.1 1,664.4\nGross profit 4,714.9 4,650.4 4,081.9\nSelling, general and administrative expenses 3,542.5 3,474.6 3,113.9\nOperating income (loss) 1,172.4 1,175.8 968.0\nLoss on extinguishment of debt— 53.7 —\nInterest expense, net 27.6 58.7 71.4\nOther expense (income) 1.7 16.4 (0.7)\nIncome (loss) before provision for income taxes 1,143.1 1,047.0 897.3\nProvision for income taxes 207.1 190.7 63.1\nNet income (loss) $ 936.0 $ 856.3 $ 834.2\nNet income (loss) per share:\nBasic Diluted $ 3.96 $ 3.24 $ 3.00\n$ 3.88 $ 3.17 $ 2.95\nShares used in computing net income (loss) per share:\nBasic 236.4 264.3 277.9\nDiluted 241.3 270.1 283.0\nSee accompanying Notes.\n64",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000243_segments",
      "report_id": "ID_000243",
      "company_name": "Tapestry",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: Coach, Kate Space, Stuart Weitzman",
      "golden_context": "Page 5:\n\nring Global Growth: The Company aims to support balanced growth across regions, prioritizing North America and China, its largest markets,\nwhile capitalizing on opportunities in under-penetrated geographies such as Southeast Asia and Europe.\nCovid-19 Impact\nThe Covid-19 pandemic has resulted in varying degrees of business disruption for the Company since it began in fiscal 2020 and has impacted all regions\naround the world, resulting in restrictions and shutdowns implemented by national, state, and local authorities. Such disruptions continued during the first half\nof fiscal 2023, and the Company's results in Greater China (mainland China, Hong Kong SAR, Macao SAR, and Taiwan) were adversely impacted as a result\nof the Covid-19 pandemic. Starting in December 2022, certain government restrictions were lifted in the region and business trends have improved. The\nCompany continues to monitor the latest developments regarding the Covid-19 pandemic and potential impacts on our business, operating results and outlook.\nOUR BRANDS\nThe Company has three reportable segments:\n• Coach - Includes global sales primarily of Coach brand products to customers through Coach operated stores, including e-commerce sites and\nconcession shop-in-shops, sales to wholesale customers and through independent third-party distributors. This segment represented 74.5% of total net\nsales in fiscal 2023.\n• Kate Spade - Includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-\ncommerce sites and concession shop-in-shops, sales to wholesale customers and through independent third-party distributors. This segment\nrepresented 21.3% of total net sales in fiscal 2023.\n• Stuart Weitzman - Includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale\ncustomers, through e-commerce sites and through independent third-party distributors. This segment represented 4.2% of total net sales in fiscal\n2023.\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_cash_flow",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 795248m, investing: 531032m, financing: -1288517m",
      "golden_context": "Page 58:\n\nCash Flow Summary\nThe following summary discussion of our cash flows is based on the Consolidated Statements of Cash Flows and is not meant\nto be an all-inclusive discussion of the changes in our cash flows for the periods presented below.\nThe following table sets forth changes in cash flows (in thousands):\nYear Ended December 31,\n2021 2020 Change\nNet cash provided by (used in) operating activities $ 795,248 $ 758,431 $ 36,817\nNet cash provided by (used in) investing activities 531,032 (1,007,700) 1,538,732\nNet cash provided by (used in) financing activities (1,288,517) 246,450 (1,534,967)\nOperating Cash Flows\nOperating cash flow increased $37 million between the years ended December 31, 2021 and 2020 primarily as the result of: (i)\n2020 and 2021 acquisitions, (ii) annual rent increases, (iii) new leasing and renewal activity, and (iv) developments and\nredevelopments placed in service during 2020 and 2021. The increase in operating cash flow is partially offset by a decrease in\nincome related to assets sold during 2020 and 2021. Our cash flow from operations is dependent upon the occupancy levels of\nour buildings, rental rates on leases, our tenants’ performance on their lease obligations, the level of operating expenses, and\nother factors.\nInvesting Cash Flows\nThe following are significant investing activities for the year ended December 31, 2021:\n• received net proceeds of $2.8 billion primarily from (i) sales of real estate assets and (ii) sales and repayments of loans\n• received net proceeds of $2.8 billion primarily from (i) sales of real estate assets and (ii) sales and repayments of loans\nreceivable; and\nreceivable; and\n• made investments of $2.2 billion primarily related to the acquisition, development, and redevelopment of real estate.\n• made investments of $2.2 billion primarily related to the acquisition, development, and redevelopment of real estate.\nThe following are significant investing activities for the year ended December 31, 2020:\n• made investments of $2.5 billion primarily related to the (i) acquisition, development, and redevelopment of real estate and\n(ii) funding of loan investments; and\n(ii) funding of loan investments; and\n• received net proceeds of $1.5 billion primarily from (i) sales of real estate assets (including real estate assets under DFLs)\nand (ii) sales and repayments of loans receivable.\nand (ii) sales and repayments of loans receivable.\nFinancing Cash Flows\nThe following are significant financing activities for the year ended December 31, 2021:\n• made net repayments of $1.6 billion related to our senior unsecured notes (including debt extinguishment costs) and\n• made net repayments of $1.6 billion related to our senior unsecured notes (including debt extinguishment costs) and\nmortgage debt;\nmortgage debt;\n• made net borrowing",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_company_type",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-08895\nHealthpeak Properties, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 33-0091377\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n5050 South Syracuse Street, Suite 800\nDenver, CO 80237\n(Address of principal executive offices) (Zip Code)\n(720) 428-5050\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s)\nName of each exchange\non which registered\nCommon Stock, $1.00 par value PEAK Securities registered pursuant to Section 12(g) of the Act:\nNone\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒\nNo ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_key_financials",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income applicable to common shares: 502271k",
      "golden_context": "Page 61:\n\non-GAAP Financial Measures Reconciliations\nFunds From Operations\nThe following is a reconciliation from net income (loss) applicable to common shares, the most directly comparable financial\nmeasure calculated and presented in accordance with GAAP, to Nareit FFO, FFO as Adjusted and AFFO (in thousands, except\nper share data):\nYear Ended December 31,\n2021 2020 2019\nNet income (loss) applicable to common shares $ 502,271 $ 411,147 $ 43,987\nReal estate related depreciation and amortization(1) 684,286 697,143 659,989\nHealthpeak's share of real estate related depreciation and amortization from unconsolidated joint ventures 17,085 105,090 60,303\nNoncontrolling interests' share of real estate related depreciation and amortization (19,367) (19,906) (20,054)\nOther real estate-related depreciation and amortization — 2,766 6,155\nLoss (gain) on sales of depreciable real estate, net(1) (605,311) (550,494) (22,900)\nHealthpeak's share of loss (gain) on sales of depreciable real estate, net, from unconsolidated joint\nventures (6,737) (9,248) (2,118)\nNoncontrolling interests' share of gain (loss) on sales of depreciable real estate, net 5,555 (3) 335\nLoss (gain) upon change of control, net(2) (1,042) (159,973) (166,707)\nTaxes associated with real estate dispositions 2,666 (7,785) —\nImpairments (recoveries) of depreciable real estate, net 25,320 224,630 221,317\nNareit FFO applicable to common shares 604,726 693,367 780,307\nDistributions on dilutive convertible units and other 6,162 6,662 6,592\nDiluted Nareit FFO applicable to common shares $ 610,888 $ 700,029 $ 786,899\nWeighted average shares outstanding - diluted Nareit FFO 544,742 536,562 494,335\nImpact of adjustments to Nareit FFO:\nTransaction-related items(3) $ 7,044 $ 128,619 $ 15,347\nOther impairments (recoveries) and other losses (gains), net(4) 24,238 (22,046) 10,147\nRestructuring and severance related charges 3,610 2,911 5,063\nLoss (gain) on debt extinguishments 225,824 42,912 58,364\nLitigation costs (recoveries) — 232 (520)\nCasualty-related charges (recoveries), net 5,203 469 (4,106)\nForeign currency remeasurement losses (gains) — 153 (250)\nValuation allowance on deferred tax assets(5)\n— 31,161 —\nTax rate legislation impact(6)\n— (3,590) —\nTotal adjustments $ 265,919 $ 180,821 $ 84,045\nFFO as Adjusted applicable to common shares $ 870,645 $ 874,188 $ 864,352\nDistributions on dilutive convertible units and other 8,577 6,490 6,396\nDiluted FFO as Adjusted applicable to common shares $ 879,222 $ 880,678 $ 870,748\nWeighted average shares outstanding - diluted FFO as Adjusted 546,567 536,562 494,335\nFFO as Adjusted applicable to common shares $ 870,645 $ 874,188 $ 864,352\nAmortization of stock-based compensation 18,202 17,368 14,790\nAmortization of deferred financing costs 9,216 10,157 10,863\nStraight-line rents (31,188) (29,316) (28,451)\nAFFO capital expenditures (111,480) (93,579) (108,844)\nCCRC entrance fees(7)\n— — 18,856\nDeferred income taxes (8,015) (15,647) (18,972)\nOther AFFO adjustments (19,510) 9,534 (6,774)\nAFFO applicable to common shares 727,870 772,705 745,820\nDistributions on dilutive convertible units and other 6,164 6,662 6,591\nDiluted AFFO applicable to common shares $ 734,034 $ 779,367 $ 752,411\nWeighted average shares outstanding - diluted AFFO 544,742 536,562 494,335",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_revenue",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "122471k",
      "golden_context": "Page 92:\n\ne results of discontinued operations through December 31, 2021, or the disposal date of each asset or portfolio of assets if\nthey have been sold, are included in the consolidated results of operations for the years ended December 31, 2021, 2020, and\n2019. Summarized financial information for discontinued operations for the years ended December 31, 2021, 2020, and 2019\nare as follows (in thousands):\nYear Ended December 31,\n2021 2020 2019\nRevenues:\nRental and related revenues $ 7,535 $ 97,877 $ 152,576\nResident fees and services 114,936 621,253 583,653\nIncome from direct financing leases — — 20,815\nTotal revenues 122,471 719,130 757,044\nCosts and expenses:\nInterest expense 3,900 10,538 8,007\nDepreciation and amortization — 143,194 224,798\nOperating 122,571 550,226 474,126\nTransaction costs 76 20,426 6,780\nImpairments and loan loss reserves (recoveries), net 32,736 201,344 208,229\nTotal costs and expenses 159,283 925,728 921,940\nOther income (expense):\nGain (loss) on sales of real estate, net 414,721 460,144 22,940\nOther income (expense), net 4,189 5,475 17,060\nTotal other income (expense), net 418,910 465,619 40,000\nIncome (loss) before income taxes and equity income (loss) from unconsolidated\njoint ventures 382,098 259,021 (124,896)\nIncome tax benefit (expense) 969 9,913 11,783\nEquity income (loss) from unconsolidated joint ventures 5,135 (1,188) (2,295)\nIncome (loss) from discontinued operations $ 388,202 $ 267,746 $ (115,408)\nNOTE 6. Impairments of Real Estate\n2021\nDuring the year ended December 31, 2021, the Company recognized an aggregate impairment charge of $22 million, which is\nreported in impairments and loan loss reserves (recoveries), net, related to: (i) three MOBs that met the held for sale criteria\nduring the year and (ii) one MOB held for use; the aggregate fair value of these four MOBs was $14 million as of the related\nimpairment assessment dates. For the three MOBs that met the held for sale criteria during the year, the Company recognized\nan impairment charge of $5 million to write down the properties’ aggregate carrying value to their aggregate fair value, less\nestimated costs to sell. For the MOB held for use, the Company recognized a $17 million impairment charge in the fourth\nquarter of 2021 due to its intent to demolish the MOB for a future development project.\nAdditionally, during the year ended December 31, 2021, the Company recognized an impairment charge of $4 million related to\none SHOP asset, which is reported in income (loss) from discontinued operations. Following a reduction in the expected sales\nprice of the SHOP asset occurring in the second quarter of 2021, the Company wrote down its carrying value of $20 million to\nits fair value, less estimated costs to sell, of $16 million.\nThe fair values of the impaired assets were based on forecasted sales prices and market comparable data, which are considered\nto be Level 3 measurements within the fair value hierarchy. These fair values are typically determined using an income\napproach and/or a market approach (comparable sales model), which rely on certain assumptions by management, including: (i)\nmarket capitalization rates, (ii) comparable market transactions, (",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_revenue_growth",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "122471k, prior year 719130k",
      "golden_context": "Page 92:\n\ne results of discontinued operations through December 31, 2021, or the disposal date of each asset or portfolio of assets if\nthey have been sold, are included in the consolidated results of operations for the years ended December 31, 2021, 2020, and\n2019. Summarized financial information for discontinued operations for the years ended December 31, 2021, 2020, and 2019\nare as follows (in thousands):\nYear Ended December 31,\n2021 2020 2019\nRevenues:\nRental and related revenues $ 7,535 $ 97,877 $ 152,576\nResident fees and services 114,936 621,253 583,653\nIncome from direct financing leases — — 20,815\nTotal revenues 122,471 719,130 757,044\nCosts and expenses:\nInterest expense 3,900 10,538 8,007\nDepreciation and amortization — 143,194 224,798\nOperating 122,571 550,226 474,126\nTransaction costs 76 20,426 6,780\nImpairments and loan loss reserves (recoveries), net 32,736 201,344 208,229\nTotal costs and expenses 159,283 925,728 921,940\nOther income (expense):\nGain (loss) on sales of real estate, net 414,721 460,144 22,940\nOther income (expense), net 4,189 5,475 17,060\nTotal other income (expense), net 418,910 465,619 40,000\nIncome (loss) before income taxes and equity income (loss) from unconsolidated\njoint ventures 382,098 259,021 (124,896)\nIncome tax benefit (expense) 969 9,913 11,783\nEquity income (loss) from unconsolidated joint ventures 5,135 (1,188) (2,295)\nIncome (loss) from discontinued operations $ 388,202 $ 267,746 $ (115,408)\nNOTE 6. Impairments of Real Estate\n2021\nDuring the year ended December 31, 2021, the Company recognized an aggregate impairment charge of $22 million, which is\nreported in impairments and loan loss reserves (recoveries), net, related to: (i) three MOBs that met the held for sale criteria\nduring the year and (ii) one MOB held for use; the aggregate fair value of these four MOBs was $14 million as of the related\nimpairment assessment dates. For the three MOBs that met the held for sale criteria during the year, the Company recognized\nan impairment charge of $5 million to write down the properties’ aggregate carrying value to their aggregate fair value, less\nestimated costs to sell. For the MOB held for use, the Company recognized a $17 million impairment charge in the fourth\nquarter of 2021 due to its intent to demolish the MOB for a future development project.\nAdditionally, during the year ended December 31, 2021, the Company recognized an impairment charge of $4 million related to\none SHOP asset, which is reported in income (loss) from discontinued operations. Following a reduction in the expected sales\nprice of the SHOP asset occurring in the second quarter of 2021, the Company wrote down its carrying value of $20 million to\nits fair value, less estimated costs to sell, of $16 million.\nThe fair values of the impaired assets were based on forecasted sales prices and market comparable data, which are considered\nto be Level 3 measurements within the fair value hierarchy. These fair values are typically determined using an income\napproach and/or a market approach (comparable sales model), which rely on certain assumptions by management, including: (i)\nmarket capitalization rates, (ii) comparable market transactions, (",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000244_segments",
      "report_id": "ID_000244",
      "company_name": "Healthpeak Properties",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Three reportable segments: life science, medical office, CCRC",
      "golden_context": "Page 82:\n\nf credit arrangement. Commercial paper are unsecured short-term debt securities with varying maturities. A line of\ncredit serves as a liquidity backstop for repayment of commercial paper borrowings.\nPenalties incurred to extinguish debt and any remaining unamortized debt issuance costs, discounts, and premiums are\nrecognized as income or expense in the Consolidated Statements of Operations at the time of extinguishment.\nSegment Reporting\nThe Company’s reportable segments, based on how it evaluates its business and allocates resources, are as follows: (i) life\nscience, (ii) medical office, and (iii) CCRC.\nNoncontrolling Interests\nArrangements with noncontrolling interest holders are assessed for appropriate balance sheet classification based on the\nredemption and other rights held by the noncontrolling interest holder. Net income (loss) attributable to a noncontrolling\ninterest is included in net income (loss) on the Consolidated Statements of Operations and, upon a gain or loss of control, the\ninterest purchased or sold, and any interest retained, is recorded at fair value with any gain or loss recognized in earnings. The\nCompany accounts for purchases or sales of equity interests that do not result in a change in control as equity transactions.\nThe Company consolidates non-managing member limited liability companies (“DownREITs”) because it exercises control,\nand the noncontrolling interests in these entities are carried at cost. The non-managing member limited liability company\n(“LLC”) units (“DownREIT units”) are exchangeable for an amount of cash approximating the then-current market value of\nshares of the Company’s common stock or, at the Company’s option, shares of the Company’s common stock (subject to\ncertain adjustments, such as stock splits and reclassifications). Upon exchange of DownREIT units for the Company’s common\nstock, the carrying amount of the DownREIT units is reclassified to stockholders’ equity.\nRedeemable Noncontrolling Interests\nCertain of the Company’s noncontrolling interest holders have the ability to put their equity interests to the Company upon\nspecified events or after the passage of a predetermined period of time. Each put option is payable in cash and subject to\nincreases in redemption value in the event that the underlying property generates specified returns and meets certain promote\nthresholds pursuant to the respective agreements. Accordingly, the Company records redeemable noncontrolling interests\noutside of permanent equity and presents the redeemable noncontrolling interests at the greater of their carrying amount or\nredemption value at the end of each reporting period.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_cash_flow",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 900261k, investing: -876343k, financing: -116532k",
      "golden_context": "Page 65:\n\nCash Flow Summary\nThe following summary discussion of our cash flows is based on the Consolidated Statements of Cash Flows and is not meant\nto be an all-inclusive discussion of the changes in our cash flows for the periods presented below.\nThe following table sets forth changes in cash flows (in thousands):\nYear Ended December 31,\n2022 2021 Change\nNet cash provided by (used in) operating activities $ 900,261 $ 795,248 $ 105,013\nNet cash provided by (used in) investing activities (876,343) 531,032 (1,407,375)\nNet cash provided by (used in) financing activities (116,532) (1,288,517) 1,171,985\nOperating Cash Flows\nOur cash flows from operations are dependent upon the occupancy levels of our buildings, rental rates on leases, our tenants’\nperformance on their lease obligations, the level of operating expenses, and other factors. Operating cash flows increased $105\nmillion for the year ended December 31, 2022 compared to the year ended December 31, 2021 primarily as the result of: (i)\n2021 and 2022 acquisitions, (ii) annual rent increases, (iii) new leasing and renewal activity, and (iv) developments and\nredevelopments placed in service during 2021 and 2022. The increase in operating cash flow is partially offset by: (i) a decrease\nin income related to assets sold during 2021 and 2022 and (ii) an increase in operating expenses.\nInvesting Cash Flows\nOur cash flows from investing activities are generally used to fund acquisitions, developments, and redevelopments of real\nestate assets, net of proceeds received from sales of real estate assets, sales of DFLs, and repayments on loans receivable. Our\nnet cash used in investing activities increased $1.4 billion for the year ended December 31, 2022 compared to the year ended\nDecember 31, 2021 primarily as a result of the following: (i) fewer sales of real estate assets, (ii) increased development and\nredevelopment of real estate assets, and (iii) fewer repayments on loans receivable. The increase in cash used in investing\nactivities was partially offset by: (i) a reduction in investments related to the acquisitions of real estate assets, (ii) proceeds\nreceived from the sale of a 30% interest in seven previously consolidated life science assets in South San Francisco, California,\nand (iii) proceeds received from the sale of a hospital under a DFL.\nFinancing Cash Flows\nOur cash flows from financing activities are generally impacted by issuances of equity, borrowings and repayments under our\nbank line of credit and commercial paper program, senior unsecured notes, term loans, and mortgage debt, net of dividends paid\nto common shareholders. Our net cash used in financing activities decreased $1.2 billion for the year ended December 31, 2022\ncompared to the year ended December 31, 2021 primarily as a result of the following: (i) no repayments of senior unsecured\nnotes (including debt extinguishment costs) in 2022, (ii) issuance of the 2022 Term Loan Facilities, (iii) proceeds received from\nthe settlement of forward contracts under our ATM Program, and (iv) fewer purchases of and distributions to noncontrolling\ninterests. The decrease in cash used in financing activities was partially offset by: (i) lower borrowings and higher repayments\nunder the bank line of credit and commercial paper program, (ii) no senior unsecured notes issuances in 2022, and (iii) an\nincrease in common stock repurchases.\nDiscontinued Operations\nOperating, investing, and financing cash flows in our Consolidated Statements of Cash Flows are reported inclusive of both\ncash flows from continuing operations and cash flows from discontinued operations. Certain significant cash flows from\ndiscontinued operations are disclosed in Note 18 to the Consolidated Financial Statements. The absence of future cash flows\nfrom discontinued operations is not expected to significantly impact our liquidity, as the proceeds from senior housing triple-net\nand SHOP dispositions were used to pay down debt and invest in additional real estate in our other business lines. Additionally,\nwe have multiple other sources of liquidity that can be utilized in the future, as needed. Refer to the beginning of the Liquidity\nand Capital Resources section above for additional information regarding our liquidity.\nDebt\nIn July 2022, we increased the maximum aggregate ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_company_type",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 13:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) For the fiscal year ended December 31, 2022\nOF THE SECURITIES EXCHANGE ACT OF 1934\nor\n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001–08895\nHealthpeak Properties, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 33–0091377\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n4600 South Syracuse Street, Suite 500\nDenver, CO 80237\n(Address of principal executive offices) (Zip Code)\n(720) 428-5050\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s)\nName of each exchange\non which registered\nCommon Stock, $1.00 par value PEAK New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_key_financials",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income applicable to common shares: 497792k",
      "golden_context": "Page 68:\n\nNon-GAAP Financial Measures Reconciliations\nFunds From Operations\nThe following is a reconciliation from net income (loss) applicable to common shares, the most directly comparable financial\nmeasure calculated and presented in accordance with GAAP, to Nareit FFO, FFO as Adjusted and AFFO (in thousands):\nYear Ended December 31,\n2022 2021 2020\nNet income (loss) applicable to common shares $ 497,792 $ 502,271 $ 411,147\nReal estate related depreciation and amortization(1) 710,569 684,286 697,143\nHealthpeak’s share of real estate related depreciation and amortization from unconsolidated joint ventures 27,691 17,085 105,090\nNoncontrolling interests’ share of real estate related depreciation and amortization (19,201) (19,367) (19,906)\nOther real estate-related depreciation and amortization — — 2,766\nLoss (gain) on sales of depreciable real estate, net(1) (10,422) (605,311) (550,494)\nHealthpeak’s share of loss (gain) on sales of depreciable real estate, net, from unconsolidated joint\nventures 134 (6,737) (9,248)\nNoncontrolling interests’ share of gain (loss) on sales of depreciable real estate, net 12 5,555 (3)\nLoss (gain) upon change of control, net(2) (311,438) (1,042) (159,973)\nTaxes associated with real estate dispositions 29 2,666 (7,785)\nImpairments (recoveries) of depreciable real estate, net — 25,320 224,630\nNareit FFO applicable to common shares 895,166 604,726 693,367\nDistributions on dilutive convertible units and other 9,407 6,162 6,662\nDiluted Nareit FFO applicable to common shares $ 904,573 $ 610,888 $ 700,029\nWeighted average shares outstanding - diluted Nareit FFO 546,462 544,742 536,562\nImpact of adjustments to Nareit FFO:\nTransaction-related items(3) $ 4,788 $ 7,044 $ 128,619\nOther impairments (recoveries) and other losses (gains), net(4) 3,829 24,238 (22,046)\nRestructuring and severance-related charges(5) 32,749 3,610 2,911\nLoss (gain) on debt extinguishments — 225,824 42,912\nLitigation costs (recoveries) — — 232\nCasualty-related charges (recoveries), net(6) 4,401 5,203 469\nForeign currency remeasurement losses (gains) — — 153\nValuation allowance on deferred tax assets(7)\n— — 31,161\nTax rate legislation impact(8)\n— — (3,590)\nTotal adjustments $ 45,767 $ 265,919 $ 180,821\nFFO as Adjusted applicable to common shares $ 940,933 $ 870,645 $ 874,188\nDistributions on dilutive convertible units and other 9,326 8,577 6,490\nDiluted FFO as Adjusted applicable to common shares $ 950,259 $ 879,222 $ 880,678\nWeighted average shares outstanding - diluted FFO as Adjusted 546,462 546,567 536,562\nFFO as Adjusted applicable to common shares $ 940,933 $ 870,645 $ 874,188\nAmortization of stock-based compensation 16,537 18,202 17,368\nAmortization of deferred financing costs 10,881 9,216 10,157\nStraight-line rents (49,183) (31,188) (29,316)\nAFFO capital expenditures (108,510) (111,480) (93,579)\nDeferred income taxes (4,096) (8,015) (15,647)\nOther AFFO adjustments (22,860) (19,510) 9,534\nAFFO applicable to common shares 783,702 727,870 772,705\nDistributions on dilutive convertible units and other 6,594 6,164 6,662\nDiluted AFFO applicable to common shares $ 790,296 $ 734,034 $ 779,367\nWeighted average shares outstanding - diluted AFFO 544,637 544,742 536,5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_revenue",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "revenues 2061178k",
      "golden_context": "Page 76:\n\nealthpeak Properties, Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenues:\nRental and related revenues $ 1,541,775 $ 1,378,384 $ 1,182,108\nResident fees and services 494,935 471,325 436,494\nIncome from direct financing leases 1,168 8,702 9,720\nInterest income 23,300 37,773 16,553\nTotal revenues 2,061,178 1,896,184 1,644,875\nCosts and expenses:\nInterest expense 172,944 157,980 218,336\nDepreciation and amortization 710,569 684,286 553,949\nOperating 862,991 773,279 782,541\nGeneral and administrative 131,033 98,303 93,237\nTransaction costs 4,853 1,841 18,342\nImpairments and loan loss reserves (recoveries), net 7,004 23,160 42,909\nTotal costs and expenses 1,889,394 1,738,849 1,709,314\nOther income (expense):\nGain (loss) on sales of real estate, net 9,078 190,590 90,350\nGain (loss) on debt extinguishments — (225,824) (42,912)\nOther income (expense), net 326,268 6,266 234,684\nTotal other income (expense), net 335,346 (28,968) 282,122\nIncome (loss) before income taxes and equity income (loss) from\nunconsolidated joint ventures 507,130 128,367 217,683\nIncome tax benefit (expense) 4,425 3,261 9,423\nEquity income (loss) from unconsolidated joint ventures 1,985 6,100 (66,599)\nIncome (loss) from continuing operations 513,540 137,728 160,507\nIncome (loss) from discontinued operations 2,884 388,202 267,746\nNet income (loss) 516,424 525,930 428,253\nNoncontrolling interests’ share in continuing operations (15,975) (17,851) (14,394)\nNoncontrolling interests’ share in discontinued operations — (2,539) (296)\nNet income (loss) attributable to Healthpeak Properties, Inc. 500,449 505,540 413,563\nParticipating securities’ share in earnings (2,657) (3,269) (2,416)\nNet income (loss) applicable to common shares $ 497,792 $ 502,271 $ 411,147\nBasic earnings (loss) per common share:\nContinuing operations $ 0.92 $ 0.22 $ 0.27\nDiscontinued operations 0.00 0.71 0.50\nNet income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77\nDiluted earnings (loss) per common share:\nContinuing operations $ 0.92 $ 0.22 $ 0.27\nDiscontinued operations 0.00 0.71 0.50\nNet income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77\nWeighted average shares outstanding:\nBasic 538,809 538,930 530,555\nDiluted 539,147 539,241 531,056\nSee accompanying Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_revenue_growth",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 2061178k, prior year 1896184k",
      "golden_context": "Page 76:\n\nealthpeak Properties, Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenues:\nRental and related revenues $ 1,541,775 $ 1,378,384 $ 1,182,108\nResident fees and services 494,935 471,325 436,494\nIncome from direct financing leases 1,168 8,702 9,720\nInterest income 23,300 37,773 16,553\nTotal revenues 2,061,178 1,896,184 1,644,875\nCosts and expenses:\nInterest expense 172,944 157,980 218,336\nDepreciation and amortization 710,569 684,286 553,949\nOperating 862,991 773,279 782,541\nGeneral and administrative 131,033 98,303 93,237\nTransaction costs 4,853 1,841 18,342\nImpairments and loan loss reserves (recoveries), net 7,004 23,160 42,909\nTotal costs and expenses 1,889,394 1,738,849 1,709,314\nOther income (expense):\nGain (loss) on sales of real estate, net 9,078 190,590 90,350\nGain (loss) on debt extinguishments — (225,824) (42,912)\nOther income (expense), net 326,268 6,266 234,684\nTotal other income (expense), net 335,346 (28,968) 282,122\nIncome (loss) before income taxes and equity income (loss) from\nunconsolidated joint ventures 507,130 128,367 217,683\nIncome tax benefit (expense) 4,425 3,261 9,423\nEquity income (loss) from unconsolidated joint ventures 1,985 6,100 (66,599)\nIncome (loss) from continuing operations 513,540 137,728 160,507\nIncome (loss) from discontinued operations 2,884 388,202 267,746\nNet income (loss) 516,424 525,930 428,253\nNoncontrolling interests’ share in continuing operations (15,975) (17,851) (14,394)\nNoncontrolling interests’ share in discontinued operations — (2,539) (296)\nNet income (loss) attributable to Healthpeak Properties, Inc. 500,449 505,540 413,563\nParticipating securities’ share in earnings (2,657) (3,269) (2,416)\nNet income (loss) applicable to common shares $ 497,792 $ 502,271 $ 411,147\nBasic earnings (loss) per common share:\nContinuing operations $ 0.92 $ 0.22 $ 0.27\nDiscontinued operations 0.00 0.71 0.50\nNet income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77\nDiluted earnings (loss) per common share:\nContinuing operations $ 0.92 $ 0.22 $ 0.27\nDiscontinued operations 0.00 0.71 0.50\nNet income (loss) applicable to common shares $ 0.92 $ 0.93 $ 0.77\nWeighted average shares outstanding:\nBasic 538,809 538,930 530,555\nDiluted 539,147 539,241 531,056\nSee accompanying Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000245_segments",
      "report_id": "ID_000245",
      "company_name": "Healthpeak Properties",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "life science, medical office, CCRC",
      "golden_context": "Page 52:\n\nyear ended December 31, 2022, the following projects were placed in service: (i) three MOB development\nprojects with total costs of $58 million, (ii) three MOB redevelopment projects with total costs of $32 million, (iii) four\nlife science development projects with total costs of $317 million, (iv) two life science redevelopment projects with\ntotal costs of $104 million, and (v) a portion of two life science development projects with total costs of $193 million.\nDividends\nQuarterly cash dividends paid during 2022 aggregated to $1.20 per share. On February 1, 2023, our Board of Directors declared\na quarterly cash dividend of $0.30 per common share. The dividend will be paid on February 23, 2023 to stockholders of record\nas of the close of business on February 9, 2023.\nResults of Operations\nWe evaluate our business and allocate resources among our reportable business segments: (i) life science, (ii) medical office,\nand (iii) CCRC. Under the life science and medical office segments, we invest through the acquisition, development, and\nmanagement of life science facilities, MOBs, and hospitals, which generally requires a greater level of property management.\nOur CCRCs are operated through RIDEA structures. We have other non-reportable segments that are comprised primarily of:\n(i) an interest in our unconsolidated SWF SH JV, (ii) loans receivable, and (iii) marketable debt securities. We evaluate\nperformance based upon property adjusted net operating income (“Adjusted NOI” or “Cash NOI”) in each segment. The\naccounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 2\nto the Consolidated Financial Statements.\nNon-GAAP Financial Measures\nNet Operating Income\nNOI and Adjusted NOI are non-U.S. generally accepted accounting principles (“GAAP”) supplemental financial measures used\nto evaluate the operating performance of real estate. NOI is defined as real estate revenues (inclusive of rental and related\nrevenues, resident fees and services, income from direct financing leases, and government grant income and exclusive of\ninterest income), less property level operating expenses; NOI excludes all other financial statement amounts included in net\nincome (loss) as presented in Note 16 to the Consolidated Financial Statements. Adjusted NOI is calculated as NOI after\neliminating the effects of straight-line rents, DFL non-cash interest, amortization of market lease intangibles, termination fees,\nactuarial reserves for insurance claims that have been incurred but not reported, and the impact of deferred community fee\nincome and expense. NOI and Adjusted NOI are calculated as NOI and Adjusted NOI from consolidated properties, plus our\nshare of NOI and Adjusted NOI from unconsolidated joint ventures (calculated by applying our actual ownership percentage for\nthe period), less noncontrolling interests’ share of NOI and Adjusted NOI from consolidated joint ventures (calculated by\napplying our actual ownership percentage for the period). Management utilizes its share of NOI and Adjusted NOI in assessing\nits performance as we have various joint ventures that contribute to its performance. We do not control our unconsolidated joint\nventures, and our share of amounts from unconsolidated joint ventures do not represent our legal claim to such items. Our share\nof NOI and Adjusted NOI should not be considered a substitute for, and should only be considered together with and as a\nsupplement to, our financial information presented in accordance with GAAP.\nAdjusted NOI is oftentimes referred to as “Cash NOI.” Management believes NOI and Adjusted NOI are important\nsupplemental measures because they provide relevant and useful information by reflecting only income and operating expense\nitems that are incurred at the property level and present them on an unlevered basis. We use NOI and Adjusted NOI to make\ndecisions about resource allocations, to assess and compare property level performance, and to evaluate our Same-Store (“SS”)\nperformance, as described below. We believe that net income (loss) is the most directly comparable GAAP measure to NOI and\nAdjusted NOI. NOI and Adjusted NOI should not be viewed as alternative measures of operating performance to net income\n(loss) as defined by GAAP since they do not reflect various excluded items. Further, our definitions of NOI and Adjusted NOI\nmay not be comparable to the definitions used by other REITs or real estate companies, as they may use different\nmethodologies for calcula",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_cash_flow",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 956242k, investing: -576754k, financing: -337299k",
      "golden_context": "Page 78:\n\nCash Flow Summary\nThe following summary discussion of our cash flows is based on the Consolidated Statements of Cash Flows and is not meant\nto be an all-inclusive discussion of the changes in our cash flows for the periods presented below.\nThe following table sets forth changes in cash flows (in thousands):\nYear Ended December 31,\n2023 2022 Change\nNet cash provided by (used in) operating activities $ 956,242 $ 900,261 $ 55,981\nNet cash provided by (used in) investing activities (576,754) (876,343) 299,589\nNet cash provided by (used in) financing activities (337,299) (116,532) (220,767)\nOperating Cash Flows\nOur cash flows from operations are dependent upon the occupancy levels of our buildings, rental rates on leases, our tenants’\nperformance on their lease obligations, the level of operating expenses, and other factors. Our net cash provided by operating\nactivities increased $56 million for the year ended December 31, 2023 compared to the year ended December 31, 2022\nprimarily as a result of: (i) developments and redevelopments placed in service during 2022 and 2023, (ii) annual rent increases,\n(iii) higher nonrefundable entrance fee collections, and (iv) new leasing and renewal activity. The increase in net cash provided\nby operating activities was partially offset by: (i) an increase in interest expense and (ii) an increase in property operating\nexpenses.\nInvesting Cash Flows\nOur cash flows from investing activities are generally used to fund acquisitions, developments, and redevelopments of real\nestate, net of proceeds received from sales of real estate, sales of DFLs, and repayments on loans receivable. Our net cash used\nin investing activities decreased $300 million for the year ended December 31, 2023 compared to the year ended December 31,\n2022 primarily as a result of the following: (i) a reduction in acquisitions of real estate, (ii) a reduction in development and\nredevelopment of real estate, (iii) an increase in proceeds from the sales of real estate, (iv) an increase in proceeds from\nprincipal repayments on loans receivable and marketable debt securities, and (v) an increase in proceeds from insurance\nrecoveries. The decrease in cash used in investing activities was partially offset by: (i) proceeds received in 2022 from the sale\nof a 30% interest in seven previously consolidated lab buildings in South San Francisco, California and (ii) higher investments\nin unconsolidated joint ventures related to the funding of redevelopment projects.\nFinancing Cash Flows\nOur cash flows from financing activities are generally impacted by issuances of equity, borrowings and repayments under our\nbank line of credit and commercial paper program, senior unsecured notes, term loans, and mortgage debt, net of dividends paid\nto common shareholders. Our net cash used in financing activities increased $221 million for the year ended December 31,\n2023 compared to the year ended December 31, 2022 primarily as a result of the following: (i) issuance of the the Term Loan\nFacilities in 2022, (ii) settlement of contracts under our ATM Program in 2022, (iii) higher net repayments under the\ncommercial paper program, (iv) higher repayments of mortgage debt, and (v) increased distributions to noncontrolling interests.\nThe increase in net cash used in financing activities was partially offset by: (i) proceeds received from the senior unsecured\nnotes issuances in January 2023 and May 2023 and (i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_company_type",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 13:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n\n\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-08895\nHealthpeak Properties, Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 33-0091377\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n4600 South Syracuse Street, Suite 500\nDenver, CO 80237\n(Address of principal executive offices) (Zip Code)\n(720) 428-5050\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nName of each exchange\nTitle of each class Trading Symbol(s) on which registered\nCommon Stock, $1.00 par value PEAK Securities registered pursuant to Section 12(g) of the Act:\nNone\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer \nNon-accelerated filer  Smaller reporting company \nEmerging growth company \nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued\nits audit report. \nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the\nfiling reflect the correction of an error to previously issued financial statements. \nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received\nby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). \nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.) Yes  No \nState the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the\ncommon equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed\nsecond fiscal quarter: $9.2 billion.\nAs of February 7, 2024, there were 547,172,983 shares of the registrant’s $1.00 par value common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the definitive Proxy Statement for the registrant’s 2024 Annual Meeting of Stockholders, to be filed with the Securities and Exchange\nCommission no later than 120 days after December 31, 2023, have been incorporated by reference into Part III of this Report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_key_financials",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "revenues: 2181003k, prior year 2061178k, net income attributable to Healthpeak Properties, Inc. 306009k",
      "golden_context": "Page 88:\n\nHealthpeak Properties, Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenues:\nRental and related revenues $ 1,631,805 $ 1,541,775 $ 1,378,384\nResident fees and services 527,417 494,935 471,325\nInterest income 21,781 23,300 37,773\nIncome from direct financing leases — 1,168 8,702\nTotal revenues 2,181,003 2,061,178 1,896,184\nCosts and expenses:\nInterest expense 200,331 172,944 157,980\nDepreciation and amortization 749,901 710,569 684,286\nOperating 902,060 862,991 773,279\nGeneral and administrative 95,132 131,033 98,303\nTransaction and merger-related costs 17,515 4,853 1,841\nImpairments and loan loss reserves (recoveries), net (5,601) 7,004 23,160\nTotal costs and expenses 1,959,338 1,889,394 1,738,849\nOther income (expense):\nGain (loss) on sales of real estate, net 86,463 9,078 190,590\nGain (loss) on debt extinguishments — — (225,824)\nOther income (expense), net 6,808 326,268 6,266\nTotal other income (expense), net 93,271 335,346 (28,968)\nIncome (loss) before income taxes and equity income (loss) from\nunconsolidated joint ventures 314,936 507,130 128,367\nIncome tax benefit (expense) 9,617 4,425 3,261\nEquity income (loss) from unconsolidated joint ventures 10,204 1,985 6,100\nIncome (loss) from continuing operations 334,757 513,540 137,728\nIncome (loss) from discontinued operations — 2,884 388,202\nNet income (loss) 334,757 516,424 525,930\nNoncontrolling interests’ share in continuing operations (28,748) (15,975) (17,851)\nNoncontrolling interests’ share in discontinued operations — — (2,539)\nNet income (loss) attributable to Healthpeak Properties, Inc. 306,009 500,449 505,540\nParticipating securities’ share in earnings (1,725) (2,657) (3,269)\nNet income (loss) applicable to common shares $ 304,284 $ 497,792 $ 502,271\nBasic earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nDiluted earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nWeighted average shares outstanding:\nBasic 547,006 538,809 538,930\nDiluted 547,275 539,147 539,241\nSee accompanying Notes to the Consolidated Financial Statements.\n73",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_revenue",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "2181003k",
      "golden_context": "Page 88:\n\nHealthpeak Properties, Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenues:\nRental and related revenues $ 1,631,805 $ 1,541,775 $ 1,378,384\nResident fees and services 527,417 494,935 471,325\nInterest income 21,781 23,300 37,773\nIncome from direct financing leases — 1,168 8,702\nTotal revenues 2,181,003 2,061,178 1,896,184\nCosts and expenses:\nInterest expense 200,331 172,944 157,980\nDepreciation and amortization 749,901 710,569 684,286\nOperating 902,060 862,991 773,279\nGeneral and administrative 95,132 131,033 98,303\nTransaction and merger-related costs 17,515 4,853 1,841\nImpairments and loan loss reserves (recoveries), net (5,601) 7,004 23,160\nTotal costs and expenses 1,959,338 1,889,394 1,738,849\nOther income (expense):\nGain (loss) on sales of real estate, net 86,463 9,078 190,590\nGain (loss) on debt extinguishments — — (225,824)\nOther income (expense), net 6,808 326,268 6,266\nTotal other income (expense), net 93,271 335,346 (28,968)\nIncome (loss) before income taxes and equity income (loss) from\nunconsolidated joint ventures 314,936 507,130 128,367\nIncome tax benefit (expense) 9,617 4,425 3,261\nEquity income (loss) from unconsolidated joint ventures 10,204 1,985 6,100\nIncome (loss) from continuing operations 334,757 513,540 137,728\nIncome (loss) from discontinued operations — 2,884 388,202\nNet income (loss) 334,757 516,424 525,930\nNoncontrolling interests’ share in continuing operations (28,748) (15,975) (17,851)\nNoncontrolling interests’ share in discontinued operations — — (2,539)\nNet income (loss) attributable to Healthpeak Properties, Inc. 306,009 500,449 505,540\nParticipating securities’ share in earnings (1,725) (2,657) (3,269)\nNet income (loss) applicable to common shares $ 304,284 $ 497,792 $ 502,271\nBasic earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nDiluted earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nWeighted average shares outstanding:\nBasic 547,006 538,809 538,930\nDiluted 547,275 539,147 539,241\nSee accompanying Notes to the Consolidated Financial Statements.\n73",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_revenue_growth",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "2181003k, prior year 2061178k",
      "golden_context": "Page 88:\n\nHealthpeak Properties, Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenues:\nRental and related revenues $ 1,631,805 $ 1,541,775 $ 1,378,384\nResident fees and services 527,417 494,935 471,325\nInterest income 21,781 23,300 37,773\nIncome from direct financing leases — 1,168 8,702\nTotal revenues 2,181,003 2,061,178 1,896,184\nCosts and expenses:\nInterest expense 200,331 172,944 157,980\nDepreciation and amortization 749,901 710,569 684,286\nOperating 902,060 862,991 773,279\nGeneral and administrative 95,132 131,033 98,303\nTransaction and merger-related costs 17,515 4,853 1,841\nImpairments and loan loss reserves (recoveries), net (5,601) 7,004 23,160\nTotal costs and expenses 1,959,338 1,889,394 1,738,849\nOther income (expense):\nGain (loss) on sales of real estate, net 86,463 9,078 190,590\nGain (loss) on debt extinguishments — — (225,824)\nOther income (expense), net 6,808 326,268 6,266\nTotal other income (expense), net 93,271 335,346 (28,968)\nIncome (loss) before income taxes and equity income (loss) from\nunconsolidated joint ventures 314,936 507,130 128,367\nIncome tax benefit (expense) 9,617 4,425 3,261\nEquity income (loss) from unconsolidated joint ventures 10,204 1,985 6,100\nIncome (loss) from continuing operations 334,757 513,540 137,728\nIncome (loss) from discontinued operations — 2,884 388,202\nNet income (loss) 334,757 516,424 525,930\nNoncontrolling interests’ share in continuing operations (28,748) (15,975) (17,851)\nNoncontrolling interests’ share in discontinued operations — — (2,539)\nNet income (loss) attributable to Healthpeak Properties, Inc. 306,009 500,449 505,540\nParticipating securities’ share in earnings (1,725) (2,657) (3,269)\nNet income (loss) applicable to common shares $ 304,284 $ 497,792 $ 502,271\nBasic earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nDiluted earnings (loss) per common share:\nContinuing operations $ 0.56 $ 0.92 $ 0.22\nDiscontinued operations — 0.00 0.71\nNet income (loss) applicable to common shares $ 0.56 $ 0.92 $ 0.93\nWeighted average shares outstanding:\nBasic 547,006 538,809 538,930\nDiluted 547,275 539,147 539,241\nSee accompanying Notes to the Consolidated Financial Statements.\n73",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000246_segments",
      "report_id": "ID_000246",
      "company_name": "Healthpeak Properties",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "lab, outpatient medical, CCRC",
      "golden_context": "Page 66:\n\nDividends\nQuarterly cash dividends paid during 2023 aggregated to $1.20 per share. On January 31, 2024, our Board of Directors declared\na quarterly cash dividend of $0.30 per common share. The dividend will be paid on February 26, 2024 to stockholders of record\nas of the close of business on February 14, 2024.\nResults of Operations\nWe evaluate our business and allocate resources among our reportable business segments: (i) lab, (ii) outpatient medical, and\n(iii) CCRC. Under the lab and outpatient medical segments, we invest through the acquisition, development, and management\nof lab buildings, outpatient medical buildings, and hospitals. Our CCRCs are operated through RIDEA structures. We have\nother non-reportable segments that are comprised primarily of: (i) an interest in our unconsolidated SWF SH JV and (ii) loans\nreceivable. These non-reportable segments have been presented on an aggregate basis herein. We evaluate performance based\nupon property adjusted net operating income (“Adjusted NOI” or “Cash NOI”) in each segment. The accounting policies of the\nsegments are the same as those described in the summary of significant accounting policies in Note 2 to the Consolidated\nFinancial Statements.\nNon-GAAP Financial Measures\nNet Operating Income\nNOI and Adjusted NOI are non-U.S. generally accepted accounting principles (“GAAP”) supplemental financial measures used\nto evaluate the operating performance of real estate. NOI is defined as real estate revenues (inclusive of rental and related\nrevenues, resident fees and services, income from direct financing leases, and government grant income and exclusive of\ninterest income), less property level operating expenses; NOI excludes all other financial statement amounts included in net\nincome (loss) as presented in Note 15 to the Consolidated Financial Statements. Adjusted NOI is calculated as NOI after\neliminating the effects of straight-line rents, DFL non-cash interest, amortization of market lease intangibles, termination fees,\nactuarial reserves for insurance claims that have been incurred but not reported, and the impact of deferred community fee\nincome and expense. NOI and Adjusted NOI are calculated as NOI and Adjusted NOI from consolidated properties, plus our\nshare of NOI and Adjusted NOI from unconsolidated joint ventures (calculated by applying our actual ownership percentage for\nthe period), less noncontrolling interests’ share of NOI and Adjusted NOI from consolidated joint ventures (calculated by\napplying our actual ownership percentage for the period). Management utilizes its share of NOI and Adjusted NOI in assessing\nits performance as we have various joint ventures that contribute to its performance. We do not control our unconsolidated joint\nventures, and our share of amounts from unconsolidated joint ventures do not represent our legal claim to such items. Our share\nof NOI and Adjusted NOI should not be considered a substitute for, and should only be considered together with and as a\nsupplement to, our financial information presented in accordance with GAAP.\nAdjusted NOI is oftentimes referred to as “Cash NOI.” Management believes NOI and Adjusted NOI are important\nsupplemental measures because they provide relevant and useful information by reflecting only income and operating expense\nitems that are incurred at the property level and present them on an unlevered basis. We use NOI and Adjusted NOI to make\ndecisions about resource allocations, to assess and compare property level performance, and to evaluate our Same-Store (“SS”)\nperformance, as described below. We believe that net income (loss) is the most directly comparable GAAP measure to NOI and\nAdjusted NOI. NOI and Adjusted NOI should not be viewed as alternative measures of operating performance to net income\n(loss) as defined by GAAP since they do not reflect various excluded items. Further, our definitions of NOI and Adjusted NOI\nmay not be comparable to the definitions used by other REITs or real estate companies, as they may use different\nmethodologies for calculating NOI and Adjusted NOI. For a reconciliation of NOI and Adjusted NOI to net income (loss) by\nsegment, refer to Not",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000247_key_financials",
      "report_id": "ID_000247",
      "company_name": "Akamai Technologies",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "revenue 3461m, income from operations 783m, cash from operations 1405m, EPS 3.93m",
      "golden_context": "Page 2:\n\nFinancial Highlights\nREVENUE\n$3,198\n$3,461\nCASH FROM OPERATIONS\n$1,215\n$1,058\n$1,405\n$2,894\n$ Millions\n$ Millions\n2019\n2020\n2021\nINCOME FROM OPERATIONS\n$783\n$659\n$549\n2019\n$2.90\n2020\nEARNINGS PER SHARE\n$3.37\n2021\n$3.93\n$ Millions\n2019\n2020\nStock Performance\n2021\n2019\n2020\n2021\nComparison of 5-Year Cumulative Total Return",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_cash_flow",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1274676k, investing: -622310k, financing: -634177k, total cash flow: 5271k",
      "golden_context": "Page 56:\n\nAKAMAI TECHNOLOGIES, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Years Ended December 31,\n2022 2021 2020\n(in thousands)\nCash flows from operating activities:\nNet income $ 523,672 $ 651,642 $ 557,054\nAdjustments to reconcile net income to net cash provided by operating\nactivities:\nDepreciation and amortization 592,754 550,632 478,389\nStock-based compensation 217,185 202,759 197,411\nBenefit for deferred income taxes (104,971) (47,794) (33,821)\nAmortization of debt discount and issuance costs 4,395 66,025 62,823\nLoss on investments 15,895 10,328 5,878\nOther non-cash reconciling items, net 31,063 11,495 17,149\nChanges in operating assets and liabilities, net of effects of acquisitions:\nAccounts receivable (21,214) (24,096) (90,381)\nPrepaid expenses and other current assets (20,125) 4,034 (25,395)\nAccounts payable and accrued expenses (26,499) 31,523 39,211\nDeferred revenue 16,713 (2,865) (1,318)\nOther current liabilities (5,318) (20,404) 18,101\nOther non-current assets and liabilities 51,126 (28,716) (10,101)\nNet cash provided by operating activities 1,274,676 1,404,563 1,215,000\nCash flows from investing activities:\nCash paid for acquisitions, net of cash acquired (872,091) (598,825) (127,999)\nCash paid for asset acquisition —\n—\n(36,376)\nPurchases of property and equipment (241,266) (328,969) (514,313)\nCapitalization of internal-use software development costs (217,036) (216,261) (217,559)\nPurchases of short-and long-term marketable securities (17,975) (932,604) (1,782,849)\nProceeds from sales of short-and long-term marketable securities 575,522 442,133 30,350\nProceeds from maturities and redemptions of short-and long-term marketable\nsecurities 156,658 991,949 1,597,651\nOther, net (6,122) (4,322) 8,121\nNet cash used in investing activities (622,310) (646,899) (1,042,974)\nCash flows from financing activities:\nProceeds from the issuance of common stock under stock plans 56,462 59,632 59,775\nEmployee taxes paid related to net share settlement of stock-based awards (82,236) (99,112) (89,828)\nRepurchases of common stock (608,010) (522,255) (193,588)\nOther, net (393) (268) —\nNet cash used in financing activities (634,177) (562,003) (223,641)\nEffects of exchange rate changes on cash, cash equivalents and restricted cash (12,918) (11,376) 10,935\nNet increase (decrease) in cash, cash equivalents and restricted cash 5,271 184,285 (40,680)\nCash, cash equivalents and restricted cash at beginning of year 537,751 353,466 394,146\nCash, cash equivalents and restricted cash at end of year $ 543,022 $ 537,751 $ 353,466\n54",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_company_type",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nCommission file number: 0-27275\nAkamai Technologies, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 04-3432319\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer Identification No.)\n145 Broadway\nCambridge, Massachusetts 02142\n(Address of principle executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (617) 444-3000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock - par value $0.01 per share AKAM Nasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No þ\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_key_financials",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue 3616654k, income from operations 676274k, net income 523672k",
      "golden_context": "Page 54:\n\nKAMAI TECHNOLOGIES, INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nRevenue For the Years Ended December 31,\n2022 2021 2020\n$ 3,616,654 $ 3,461,223 $ 3,198,149\nCosts and operating expenses:\nCost of revenue (exclusive of amortization of acquired intangible\nassets shown below) 1,383,819 1,268,956 1,132,672\nResearch and development 391,434 335,372 269,315\nSales and marketing 502,409 461,967 510,405\nGeneral and administrative 584,206 553,024 547,888\nAmortization of acquired intangible assets 64,983 48,019 42,049\nRestructuring charge 13,529 10,737 37,286\nTotal costs and operating expenses 2,940,380 2,678,075 2,539,615\nIncome from operations 676,274 783,148 658,534\nInterest and marketable securities income, net 3,258 15,620 29,122\nInterest expense (11,096) (72,332) (69,120)\nOther (expense) income, net (10,433) 1,785 (2,454)\nIncome before provision for income taxes 658,003 728,221 616,082\nProvision for income taxes (126,696) (62,571) (45,922)\nLoss from equity method investment (7,635) (14,008) (13,106)\nNet income $ 523,672 $ 651,642 $ 557,054\nNet income per share:\nBasic Diluted $ 3.29 $ 4.01 $ 3.43\n$ 3.26 $ 3.93 $ 3.37\nShares used in per share calculations:\nBasic 159,089 162,665 162,490\nDiluted 160,467 165,804 165,213\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_revenue",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 3616654k, prior year 3461223k",
      "golden_context": "Page 54:\n\nKAMAI TECHNOLOGIES, INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nRevenue For the Years Ended December 31,\n2022 2021 2020\n$ 3,616,654 $ 3,461,223 $ 3,198,149\nCosts and operating expenses:\nCost of revenue (exclusive of amortization of acquired intangible\nassets shown below) 1,383,819 1,268,956 1,132,672\nResearch and development 391,434 335,372 269,315\nSales and marketing 502,409 461,967 510,405\nGeneral and administrative 584,206 553,024 547,888\nAmortization of acquired intangible assets 64,983 48,019 42,049\nRestructuring charge 13,529 10,737 37,286\nTotal costs and operating expenses 2,940,380 2,678,075 2,539,615\nIncome from operations 676,274 783,148 658,534\nInterest and marketable securities income, net 3,258 15,620 29,122\nInterest expense (11,096) (72,332) (69,120)\nOther (expense) income, net (10,433) 1,785 (2,454)\nIncome before provision for income taxes 658,003 728,221 616,082\nProvision for income taxes (126,696) (62,571) (45,922)\nLoss from equity method investment (7,635) (14,008) (13,106)\nNet income $ 523,672 $ 651,642 $ 557,054\nNet income per share:\nBasic Diluted $ 3.29 $ 4.01 $ 3.43\n$ 3.26 $ 3.93 $ 3.37\nShares used in per share calculations:\nBasic 159,089 162,665 162,490\nDiluted 160,467 165,804 165,213\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_revenue_growth",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 3616654k",
      "golden_context": "Page 54:\n\nKAMAI TECHNOLOGIES, INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nRevenue For the Years Ended December 31,\n2022 2021 2020\n$ 3,616,654 $ 3,461,223 $ 3,198,149\nCosts and operating expenses:\nCost of revenue (exclusive of amortization of acquired intangible\nassets shown below) 1,383,819 1,268,956 1,132,672\nResearch and development 391,434 335,372 269,315\nSales and marketing 502,409 461,967 510,405\nGeneral and administrative 584,206 553,024 547,888\nAmortization of acquired intangible assets 64,983 48,019 42,049\nRestructuring charge 13,529 10,737 37,286\nTotal costs and operating expenses 2,940,380 2,678,075 2,539,615\nIncome from operations 676,274 783,148 658,534\nInterest and marketable securities income, net 3,258 15,620 29,122\nInterest expense (11,096) (72,332) (69,120)\nOther (expense) income, net (10,433) 1,785 (2,454)\nIncome before provision for income taxes 658,003 728,221 616,082\nProvision for income taxes (126,696) (62,571) (45,922)\nLoss from equity method investment (7,635) (14,008) (13,106)\nNet income $ 523,672 $ 651,642 $ 557,054\nNet income per share:\nBasic Diluted $ 3.29 $ 4.01 $ 3.43\n$ 3.26 $ 3.93 $ 3.37\nShares used in per share calculations:\nBasic 159,089 162,665 162,490\nDiluted 160,467 165,804 165,213\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000248_segments",
      "report_id": "ID_000248",
      "company_name": "Akamai Technologies",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 60:\n\n akam-20221231\nTable of Contents\nAKAMAI TECHNOLOGIES, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\n1. Nature of Business and Basis of Presentation\nAkamai Technologies, Inc. (the “Company”) provides solutions to power and protect life online. Its massively distributed edge\nand cloud platform comprises more than 4,100 locations across more than 130 countries. The Company was incorporated in Delaware\nin 1998 and is headquartered in Cambridge, Massachusetts. The Company is currently organized and operates as one reportable and\noperating segment.\nThe accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All\nintercompany transactions and balances have been eliminated in the accompanying consolidated financial statements.\n2. Summary of Significant Accounting Policies\nUse of Estimates\nThe Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the\nUnited States of America. These principles require management to make estimates, judgments and assumptions that affect the reported\namounts of assets, liabilities, revenue and expenses, and the amounts disclosed in the related notes to the consolidated financial\nstatements. Actual results and outcomes may differ materially from management’s estimates, judgments and assumptions. Significant\nestimates, judgments and assumptions used in these financial statements include, but are not limited to, those related to revenue,\naccounts receivable and related reserves, valuation and impairment of investments and marketable securities, valuation and useful\nlives of acquired intangible assets, useful lives and realizability of long-lived assets, capitalized internal-use software development\ncosts, income tax reserves and accounting for stock-based compensation. Estimates are periodically reviewed in light of changes in\ncircumstances, facts and experience. The effects of material revisions in estimates are reflected in the consolidated financial\nstatements prospectively from the date of the change in estimate.\nCash, Cash Equivalents and Marketable Securities\nCash and cash equivalents consist of cash held in bank deposit accounts and short-term, highly-liquid investments with remaining\nmaturities of three months or less at the date of purchase. Marketable securities consist of corporate, government and other securities.\nSecurities having remaining maturities of less than one year from the date of the balance sheet are classified as short-term, and those\nwith maturities of more than one year from the date of the balance sheet are classified as long-term in the consolidated balance sheets.\nThe Company classifies its fixed income securities with readily determinable market values as available-for-sale. These\ninvestments are classified as marketable securities on the consolidated balance sheets and are carried at fair market value, with\nunrealized gains and losses considered to be temporary in nature and reported as accumulated other comprehensive loss, a separate\ncomponent of stockholders’ equity. The Company reviews all investments for reductions in fair value that are other-than-temporary.\nWhen such reductions occur, the cost of the investment is adjusted to fair value through recording a loss on investments in the\nconsolidated statements of income. Gains and losses on investments are calculated on the basis of specific identification.\nMarketable securities are considered to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_cash_flow",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 2799.6m, -764.1m, financing -2301.9m, total cash flow -268.9m",
      "golden_context": "Page 90:\n\nVIATRIS INC. AND SUBSIDIARIES\nConsolidated Statements of Cash Flows\n(In millions)\nYear Ended December 31,\n2023 2022 2021\nCash flows from operating activities:\nNet earnings (loss) $ 54.7 $ 2,078.6 $ (1,269.1)\nAdjustments to reconcile net earnings to net cash provided by operating activities:\nDepreciation and amortization Deferred income tax expense (benefit) Litigation settlements and other contingencies, net Loss from equity method investments —\n2,740.5 3,027.6 4,506.5\n(387.1) (25.9) 675.7\n86.8 (1.7) 323.7\n61.9\n239.9 (1,754.1) —\n180.7 116.4 111.2\n595.4 434.3 411.8\n—\nLoss (gain) on disposal of business Share-based compensation expense Other non-cash items Changes in operating assets and liabilities:\nAccounts receivable 78.6 (240.3) 59.3\nInventories (613.3) (259.5) (427.6)\nTrade accounts payable 314.7 170.2 (70.4)\nIncome taxes (76.7) 25.3 (699.6)\nOther operating assets and liabilities, net (414.6) (618.3) (666.5)\nNet cash provided by operating activities 2,799.6 2,952.6 3,016.9\nCash flows from investing activities:\nCash (paid) received for acquisitions, net of cash acquired (667.7) —\n277.0\nCapital expenditures (377.0) (406.0) (457.2)\nPayments for product rights and other, net (97.5) (37.0) (52.2)\nProceeds from sale of property, plant and equipment 14.0 13.8 18.3\nProceeds from sale of assets and subsidiaries 364.1 1,950.0 96.7\nPurchase of marketable securities (26.3) (30.2) (30.2)\nProceeds from the sale of marketable securities 26.3 29.9 29.8\nNet cash (used in) provided by investing activities (764.1) 1,520.5 (117.8)\nCash flows from financing activities:\nProceeds from issuance of long-term debt 0.3 1,875.6 1,710.1\nPayments of long-term debt (1,250.2) (3,662.5) (4,201.3)\nPayments of financing fees (0.5) (1.9) (7.0)\nChange in short-term borrowings, net 0.3 (1,493.2) 392.1\nPurchase of common stock (250.0) —\n—\nTaxes paid related to net share settlement of equity awards (38.2) (17.3) (17.4)\nContingent consideration payments (8.4) (18.9) (28.6)\nCash dividends paid (575.6) (581.6) (399.0)\nNon-contingent payments for product rights (9.7) —\n(456.0)\nIssuance of common stock 3.1 3.3\n—\nOther items, net (173.0) 18.6 (4.9)\nNet cash used in financing activities (2,301.9) (3,877.9) (3,012.0)\nEffect on cash of changes in exchange rates (2.5) (38.9) (30.9)\nNet (decrease) increase in cash, cash equivalents and restricted cash (268.9) 556.3 (143.8)\nCash, cash equivalents and restricted cash — beginning of period 1,262.5 706.2 850.0\nCash, cash equivalents and restricted cash — end of period $ 993.6 $ 1,262.5 $ 706.2\nSupplemental disclosures of cash flow information —\nCash paid during the period for:\nIncome taxes Interest $ 570.9 $ 735.2 $ 641.7\n$ 611.6 $ 642.5 $ 684.8\nSee Notes to Consolidated Financial Statements\n89",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_company_type",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the Fiscal Year Ended December 31, 2023\nOR\n☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\nCommission file number 001-39695\nVIATRIS INC.\n(Exact name of registrant as specified in its charter)\nDelaware 83-4364296\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n1000 Mylan Boulevard, Canonsburg, Pennsylvania, 15317\n(Address of principal executive offices)(Zip Code)\n(724) 514-1800\n(Registrant’\ns telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class: Common Stock, par value $0.01 per share Trading Symbol(s) VTRS Name of Each Exchange on Which Registered:\nThe NASDAQ Stock Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-\nT (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the\nExchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect\nthe correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of\nthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nThe aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of June 30, 2023, the last business day of the\nregistrant’s most recently completed second fiscal quarter, was approximately $11,936,712,582.\nThe number of shares of common stock outstanding, par value $0.01 per share, of the registrant as of February 22, 2024 was 1,187,569,149.\nINCORPORATED BY REFERENCE\nDocument\nAn amendment to this Form 10-K will be filed no later than 120 days after the close of registrant’s fiscal year. Part of Form 10-K into Which\nDocument is Incorporated\nIII",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_key_financials",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Total revenues: 15426.9m, gross profit: 6438.6m, earnings from operations 766.2m, net earnings 54.7m, diluted EPS 0.05",
      "golden_context": "Page 59:\n\nFinancial Summary\nThe table below is a summary of the Company’s financial results for the year ended December 31, 2023 compared to the prior year period:\nYear Ended December 31,\n(In millions, except per share amounts) 2023 2022 Change\nTotal revenues $ 15,426.9 $ 16,262.7 $ (835.8)\nGross profit 6,438.6 6,497.0 (58.4)\nEarnings from operations 766.2 1,614.9 (848.7)\nNet earnings 54.7 2,078.6 (2,023.9)\nDiluted earnings per share $ 0.05 $ 1.71 $ (1.66)\nA detailed discussion of the Company’s financial results can be found below in the section titled “Results of Operations.\n” As part of this\ndiscussion, we also report sales performance using the non-GAAP financial measures of “constant currency” net sales and total revenues. These measures\nprovide information on the change in net sales and total revenues assuming that foreign currency exchange rates had not changed between the prior and\ncurrent period. The comparisons presented at constant currency rates reflect comparative local currency sales at the prior year’s foreign exchange rates. We\nroutinely evaluate our net sales and total revenues performance at constant currency so that sales results can be viewed without the impact of foreign\ncurrency exchange rates, thereby facilitating a period-to-period comparison of our operational activities, and believe that this presentation also provides\nuseful information to investors for the same reason.\nMore information about non-GAAP measures used by the Company as part of this discussion, including adjusted cost of sales, adjusted gross\nmargins, adjusted net earnings, and adjusted EBITDA (all of which are defined below) are discussed further in this Part II, Item 7 under Results of\nOperations and Results of Operations — Use of Non-GAAP Financial Measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_revenue",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "15426.9m",
      "golden_context": "Page 59:\n\nFinancial Summary\nThe table below is a summary of the Company’s financial results for the year ended December 31, 2023 compared to the prior year period:\nYear Ended December 31,\n(In millions, except per share amounts) 2023 2022 Change\nTotal revenues $ 15,426.9 $ 16,262.7 $ (835.8)\nGross profit 6,438.6 6,497.0 (58.4)\nEarnings from operations 766.2 1,614.9 (848.7)\nNet earnings 54.7 2,078.6 (2,023.9)\nDiluted earnings per share $ 0.05 $ 1.71 $ (1.66)\nA detailed discussion of the Company’s financial results can be found below in the section titled “Results of Operations.\n” As part of this\ndiscussion, we also report sales performance using the non-GAAP financial measures of “constant currency” net sales and total revenues. These measures\nprovide information on the change in net sales and total revenues assuming that foreign currency exchange rates had not changed between the prior and\ncurrent period. The comparisons presented at constant currency rates reflect comparative local currency sales at the prior year’s foreign exchange rates. We\nroutinely evaluate our net sales and total revenues performance at constant currency so that sales results can be viewed without the impact of foreign\ncurrency exchange rates, thereby facilitating a period-to-period comparison of our operational activities, and believe that this presentation also provides\nuseful information to investors for the same reason.\nMore information about non-GAAP measures used by the Company as part of this discussion, including adjusted cost of sales, adjusted gross\nmargins, adjusted net earnings, and adjusted EBITDA (all of which are defined below) are discussed further in this Part II, Item 7 under Results of\nOperations and Results of Operations — Use of Non-GAAP Financial Measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_revenue_growth",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "15426.9m, prior year 16262.7m",
      "golden_context": "Page 59:\n\nFinancial Summary\nThe table below is a summary of the Company’s financial results for the year ended December 31, 2023 compared to the prior year period:\nYear Ended December 31,\n(In millions, except per share amounts) 2023 2022 Change\nTotal revenues $ 15,426.9 $ 16,262.7 $ (835.8)\nGross profit 6,438.6 6,497.0 (58.4)\nEarnings from operations 766.2 1,614.9 (848.7)\nNet earnings 54.7 2,078.6 (2,023.9)\nDiluted earnings per share $ 0.05 $ 1.71 $ (1.66)\nA detailed discussion of the Company’s financial results can be found below in the section titled “Results of Operations.\n” As part of this\ndiscussion, we also report sales performance using the non-GAAP financial measures of “constant currency” net sales and total revenues. These measures\nprovide information on the change in net sales and total revenues assuming that foreign currency exchange rates had not changed between the prior and\ncurrent period. The comparisons presented at constant currency rates reflect comparative local currency sales at the prior year’s foreign exchange rates. We\nroutinely evaluate our net sales and total revenues performance at constant currency so that sales results can be viewed without the impact of foreign\ncurrency exchange rates, thereby facilitating a period-to-period comparison of our operational activities, and believe that this presentation also provides\nuseful information to investors for the same reason.\nMore information about non-GAAP measures used by the Company as part of this discussion, including adjusted cost of sales, adjusted gross\nmargins, adjusted net earnings, and adjusted EBITDA (all of which are defined below) are discussed further in this Part II, Item 7 under Results of\nOperations and Results of Operations — Use of Non-GAAP Financial Measures.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000252_segments",
      "report_id": "ID_000252",
      "company_name": "Viatris",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Developed Markets, Greater China, JANZ, and Emerging Markets",
      "golden_context": "Page 16:\n\nretain rights for Viagra® and Dymista® (which, in certain limited markets, are sold as OTC products) and select OTC products in\ncertain markets.\nChannel Types\nViatris’ products make their way to patients through a variety of intermediaries, or channels.\nPharmaceutical wholesalers/distributors purchase prescription medicines and other medical products directly from manufacturers for storage in\nwarehouses and distribution centers. The distributors then fill orders placed by healthcare providers and other authorized buyers.\nPharmaceutical retailers purchase products directly from manufacturers or wholesalers/distributors. They then sell them to consumers in\nrelatively small quantities for personal use.\nInstitutional pharmacies address the unique needs of hospitals, nursing homes and other such venues. Among the services provided are specialized\npackaging, including for injectables and unit-dose products, for controlled administration.\nMail-order and e-commerce pharmacies receive prescriptions by mail, fax, phone or the internet at a central location; process them in large,\nmostly automated centers; and mail the drugs to the consumer.\nSpecialty pharmacies focus on managing the handling and service requirements associated with high-cost and more-complex drug therapies, such\nas those used to treat patients with rare or serious diseases.\nBusiness Segments\nViatris has four reportable segments: Developed Markets, Greater China, JANZ, and Emerging Markets. The Company reports segment\ninformation on the basis of markets and geography, which reflects its focus on bringing its broad and diversified portfolio of branded and generic products,\nincluding complex products, to people in markets everywhere. Our Developed Markets segment comprises our operations primarily in North America and\nEurope. Our Greater China segment includes our operations in China, Taiwan and Hong Kong. Our JANZ segment reflects our operations in Japan,\nAustralia and New Zealand. Our Emerging Markets segment encompasses our presence in more than 125 countries with developing markets and emerging\neconomies including in Asia, Africa, Eastern Europe, Latin America and the Middle East as well as the Company’s ARV franchise.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_cash_flow",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1'461m, \ninvesting: -511m, \nfinancing: -875m",
      "golden_context": "Page 37:\n\nn unlimited amount of public debt and other securities.\nissue an unlimited amount of public debt and other securities.\nManufacturing Group Cash Flows\nManufacturing Group Cash Flows\nManufacturing Group Cash Flows\nCash flows from continuing operations for the Manufacturing group as presented in our Consolidated Statements of Cash Flows\nManufacturing Group Cash Flows\nCash flows from continuing operations for the Manufacturing group as presented in our Consolidated Statements of Cash Flows\nCash flows from continuing operations for the Manufacturing group as presented in our Consolidated Statements of Cash Flows\nare summarized below:\nCash flows from continuing operations for the Manufacturing group as presented in our Consolidated Statements of Cash Flows\nare summarized below:\nare summarized below:\nare summarized below:\nn mllons 2022 2021 2020\nn mllons 2022 2021 2020\nn mllons 2022 2021 2020\nOperating activities n mllons 2022 2021 2020\nOperating activities $ 1,461 Operating activities $ 1,461 $ 1,469 $ 833\nOperating activities $ 1,461 $ 1,469 $ 833\nInvesting activities $ 1,461 $ 1,469 $ 833\nInvesting activities (511) $ 1,469 $ 833\nInvesting activities (511) (335) (277)\nInvesting activities (511) (335) (277)\nFinancing activities (511) (335) (277)\nFinancing activities (875) (335) (277)\nFinancing activities (875) (1,349) 393\n(875) (1,349) 393\n(1,349) 393\nFinancing activities (875) (1,349) 393\nCash flows from operating activities in 2022 were essentially unchanged from 2021 as an increase in net income tax payments of\nCash flows from operating activities in 2022 were essentially unchanged from 2021 as an increase in net income tax payments of\nCash flows from operating activities in 2022 were essentially unchanged from 2021 as an increase in net income tax payments of\n$260 million, largely resulting from a change in tax legislation discussed above, was mostly offset by changes in working capital\nCash flows from operating activities in 2022 were essentially unchanged from 2021 as an increase in net income tax payments of\n$260 million, largely resulting from a change in tax legislation discussed above, was mostly offset by changes in working capital\n$260 million, largely resulting from a change in tax legislation discussed above, was mostly offset by changes in working capital\nand higher earnings. Net income tax payments were $332 million and $72 million in 2022 and 2021, respectively. Pension\n$260 million, largely resulting from a change in tax legislation discussed above, was mostly offset by changes in working capital\nand higher earnings. Net income tax payments were $332 million and $72 million in 2022 and 2021, respectively. Pension\nand higher earnings. Net income tax payments were $332 million and $72 million in 2022 and 2021, respectively. Pension\ncontributions were $49 million and $52 million in 2022 and 2021, respectively.\nand higher earnings. Net income tax payments were $332 million and $72 million in 2022 and 2021, respectively. Pension\ncontributions were $49 million and $52 million in 2022 and 2021, respectively.\ncontributions were $49 million and $52 million in 2022 and 2021, respectively.\ncontributions were $49 million and $52 million in 2022 and 2021, respectively.\nIn 2022 and 2021, investing cash flows primarily included capital expenditures of $354 million and $375 million, respectively.\nIn 2022 and 2021, investing cash flows primarily included capital expenditures of $354 million and $375 million, respectively.\nIn 2022 and 2021, investing cash flows primarily included capital expenditures of $354 million and $375 million, respectively.\nInvesting cash flows in 2022 also included $202 million of net cash paid for business acquisitions, largely related to the Pipistrel\nIn 2022 and 2021, investing cash flows primarily included capital expenditures of $354 million and $375 million, respectively.\nInvesting cash flows in 2022 also included $202 million of net cash paid for business acquisitions, largely related to the Pipistrel\nInvesting cash flows in 2022 also included $202 million of net cash paid for business acquisitions, largely related to the Pipistrel\nacquisition discussed in Note 2 to the Consolidated Financial Statements included in Item 8. Financial Statements and\nInvesting cash flows in 2022 also included $202 million of net cash paid for business acquisitions, largely related to the Pipistrel\nacquisition discussed in Note 2 to the Consolidated Financial Statements included in Item 8. Financial Statements and\nacquisition discussed in Note 2 to the Consolidated Financial Statements included in Item 8. Financial Statements and\nSupplementary Data.\nacquisition discussed in Note 2 to the Consolidated Financial Statements included in Item 8. Financial Statements and\nSupplementary Data.\nSupplementary Data.\nSupplementary Data.\nCash flows used by financing activities in 2022 included $867 million of cash paid to repurchase an aggregate of 13.1 million\nCash flows used by financing activities in 2022 included $867 million of cash paid to repurchase an aggregate of 13.1 million\nCash flows used by financing activities in 2022 included $867 million of cash paid to repurchase an aggregate of 13.1 million\nshares of our common stock under the 2022 share repurchase plan described below. In 2021, cash flows used by financing\nCash flows used by financing activities in 2022 included $867 million of cash paid to repurchase an aggregate of 13.1 million\nshares of our common stock under the 2022 share repurchase plan described below. In 2021, cash flows used by financing\nshares of our common stock under the 2022 share repurchase plan described below. In 2021, cash flows used by financing\nactivities included $921 million of cash paid to repurchase an aggregate of 13.5 million shares of our common stock under a 2020\nshares of our common stock under the 2022 share repurchase plan described below. In 2021, cash flows used by financing\nactivities included $921 million of cash paid to repurchase an aggregate of 13.5 million shares of our common stock under a 2020\nactivities included $921 million of cash paid to repurchase an aggregate of 13.5 million shares of our common stock under a 2020\nshare repurchase plan, and $524 million of payments on long-term debt.\nactivities included $921 million of cash paid to repurchase an aggregate of 13.5 million shares of our common stock under a 2020\nshare repurchase plan, and $524 million of payments on long-term debt.\nshare repurchase plan, and $524 million of payments on long-term debt.\nshare repurchase plan, and $524 million of payments on long-term debt.\nOn January 25, 2022, we announced the authorization of the repurchase of up to 25 million shares of our common stock. This\nOn January 25, 2022, we announced the authorization of the repurchase of up to 25 million shares of our common stock. This\nOn January 25, 2022, we announced the authorization of the repurchase of up to 25 million shares of our common stock. This\nplan allows us to continue our practice of repurchasing shares to offset the impact of dilution from stock-based compensation and\nOn January 25, 2022, we announced the authorization of the repurchase of up to 25 million shares of our common stock. This\nplan allows us to continue our practice of repurchasing shares to offset the impact of dilution from stock-based compensation and\nplan allows us to continue our practice of repurchasing shares to offset the impact of dilution from stock-based compensation and\nbenefit plans and for opportunistic capital management purposes. The 2022 plan has no expiration date and replaced the prior\nplan allows us to continue our practice of repurchasing shares to offset the impact of dilution from stock-based compensation and\nbenefit plans and for opportunistic capital management purposes. The 2022 plan has no expiration date and replaced the prior\nbenefit plans and for opportunistic capital management purposes. The 2022 plan has no expiration date and replaced the prior\n2020 share repurchase authorization, which was utilized in 2021 for repurchases.\nbenefit plans and for opportunistic capital management purposes. The 2022 plan has no expiration date and replaced the prior\n2020 share repurchase authorization, which was utilized in 2021 for repurchases.\n2020 share repurchase authorization, which was utilized in 2021 for repurchases.\n2020 share repurchase authorization, which was utilized in 2021 for repurchases.\nDividend payments to shareholders totaled $17 million and $18 million in 2022 and 2021, respectively.\nDividend payments to shareholders totaled $17 million and $18 million in 2022 and 2021, respectively.\nDividend payments to shareholders totaled $17 million and $18 million in 2022 and 2021, respectively.\nDividend payments to shareholders totaled $17 million and $18 million in 2022 and 2021, respectively.\nFinance Group Cash Flows\nFinance Group Cash Flows\nFinance Group Cash Flows\nThe cash flows from continuing operations for the Finance group as presented in our Consolidated Statements of Cash Flows are\nFinance Group Cash Flows\nThe cash flows from continuing operations for the Finance group as presented in our Consolidated Statements of Cash Flows are\nThe cash flows from continuing operations for the Finance group as presented in our Consolidated Statements of Cash Flows are\nsummarized below:\nThe cash flows from continuing operat",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_company_type",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to .\nCommission File Number 1-5480\nTextron Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 05-0315468\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n40 Westminster Street, Providence, RI 02903\n(Address of principal executive offices) (Zip code)\nRegistrant’s Telephone Number, Including Area Code: (401) 421-2800\nSecurities registered pursuant to Section 12(b) of the Act:\nName of Each Exchange on\nWhich Registered\nNew York Stock Exchange\nTitle of Each Class Common Stock — par value $0.125 Trading Symbol(s)\nTXT Securities registered pursuant to Section 12(g) of the Act: None\n______________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. xYes ¨ No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act . ¨ Yes x No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. x Yes ¨ No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x Yes ¨No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging\ngrowth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of\nthe Exchange Act (Check one):\nLarge accelerated filer x Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☒ Yes ¨ No\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes ☒ No\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any\nof the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b) ☐\nThe aggregate market value of the registrant’s Common Stock held by non-affiliates at July 2, 2022 was approximately $12.9 billion based on the New York\nStock Exchange closing price for such shares on that date. The registrant has no non-voting common equity.\nAt February 4, 2023, 205,216,698 shares of Common Stock were outstanding.\nDocuments Incorporated by Reference\nPart III of this Report incorporates information from certain portions of the registrant’s Definitive Proxy Stat",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_key_financials",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 12869m, prior year 12382m, net income 240m",
      "golden_context": "Page 30:\n\n higher volume and mix at both the Textron Aviation and Industrial segments, partially offset by lower volume and\nmix at the ell and Textron Systems segments. Our backlog increased 31, to $13.3 billion by the end of 2022, reflecting\nincreased demand in many of our businesses, including a 55 increase in backlog at the Textron Aviation segment. During 2022,\nwe continued to manage through the impacts of ongoing global supply chain shortagesdelays and labor shortages, in order to\nmeet customer demand. In December 2022, ell was awarded the development contract for the U.S. Army’s Future Long-Range\nAssault Aircraft (FLRAA) program as discussed in Item 1. usiness. Financial highlights for 2022 also include:\nenerated $1.5 billion of net cash from operating activities from our manufacturing businesses.\nInvested $601 million in research and development projects and $354 million in capital expenditures.\nReturned $867 million to our shareholders through the repurchase of 13.1 million shares of our common stock.\nFor an overview of our business segments, including a discussion of our major products and services, refer to Item 1. usiness. A\ndiscussion of our financial condition and operating results for 2022 compared with 2021 is provided below, while a discussion of\n2021 compared with 2020 can be found in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations of our Annual Report on Form 10- for the year ended January 1, 2022. The following discussion should be read in\nconjunction with our Consolidated Financial Statements and related Notes included in Item 8. Financial Statements and\nSupplementary Data.\nConsolidated Results of Operations\nChange\nDollars n mllons 2022 2021 2020 2022 2021\nRevenues $ 12,869 $ 12,382 $ 11,651 4 6\nCost of sales 10,800 10,297 10,094 5 2\nross margin as a percentage of Manufacturing revenues 15.7 16.5 13.0\nSelling and administrative expense 1,186 1,221 1,045 (3) 17\nInterest expense, net 107 142 166 (25) (14)\nNon-service components of pension and postretirement\nincome, net 240 159 83 51 92\nRevenues\nRevenues increased $487 million, 4, in 2022, compared with 2021. The revenue increase primarily included the following\nfactors:\nigher Textron Aviation revenues of $507 million, reflecting higher volume and mix of $302 million and higher pricing\nof $205 million.\nigher Industrial revenues of $335 million due to a favorable impact from pricing of $227 million, principally in the\nSpecialized ehicles product line, and higher volume and mix of $203 million in both product lines, partially offset by\nan unfavorable impact from exchange rate fluctuations of $95 million.\nLower ell revenues of $273 million due to lower military revenues of $333 million, primarily in the -1 program due to\nlower aircraft and spares production volume reflecting lower demand, partially offset by higher commercial revenues of\n$60 million, largely due to higher pricing.\nLower Textron Systems revenues of $101 million, largely due to lower volume of $121 million, which included an $88\nmillion decrease from our Afghanistan fee-for-service and aircraft support contracts.\nCost of Sales and Selling and Administrative Expense\nCost of sales includes cost of products and services sold for the Manufacturing group. In 2022, cost of sales increased $503\nmillion, 5, compared with 2021, largely due to an unfavorable impact from inflation of $385 million, principally reflecting\nhigher material costs in the Industrial and Textron Aviation segments. ross margin as a percentage of Manufacturing revenues\ndecreased 80 basis points in 2022, compared with 2021, as higher margin at the Textron Aviation segment, reflecting higher\nvolume and mix and pricing, was more than offset by lower margin at the other Manufacturing segments, primarily at the ell\nsegment due to lower volume and mix.\nSelling and administrative expense decreased $35 million, 3, in 2022, compar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_revenue",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenues 12869m",
      "golden_context": "Page 30:\n\n higher volume and mix at both the Textron Aviation and Industrial segments, partially offset by lower volume and\nmix at the ell and Textron Systems segments. Our backlog increased 31, to $13.3 billion by the end of 2022, reflecting\nincreased demand in many of our businesses, including a 55 increase in backlog at the Textron Aviation segment. During 2022,\nwe continued to manage through the impacts of ongoing global supply chain shortagesdelays and labor shortages, in order to\nmeet customer demand. In December 2022, ell was awarded the development contract for the U.S. Army’s Future Long-Range\nAssault Aircraft (FLRAA) program as discussed in Item 1. usiness. Financial highlights for 2022 also include:\nenerated $1.5 billion of net cash from operating activities from our manufacturing businesses.\nInvested $601 million in research and development projects and $354 million in capital expenditures.\nReturned $867 million to our shareholders through the repurchase of 13.1 million shares of our common stock.\nFor an overview of our business segments, including a discussion of our major products and services, refer to Item 1. usiness. A\ndiscussion of our financial condition and operating results for 2022 compared with 2021 is provided below, while a discussion of\n2021 compared with 2020 can be found in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations of our Annual Report on Form 10- for the year ended January 1, 2022. The following discussion should be read in\nconjunction with our Consolidated Financial Statements and related Notes included in Item 8. Financial Statements and\nSupplementary Data.\nConsolidated Results of Operations\nChange\nDollars n mllons 2022 2021 2020 2022 2021\nRevenues $ 12,869 $ 12,382 $ 11,651 4 6\nCost of sales 10,800 10,297 10,094 5 2\nross margin as a percentage of Manufacturing revenues 15.7 16.5 13.0\nSelling and administrative expense 1,186 1,221 1,045 (3) 17\nInterest expense, net 107 142 166 (25) (14)\nNon-service components of pension and postretirement\nincome, net 240 159 83 51 92\nRevenues\nRevenues increased $487 million, 4, in 2022, compared with 2021. The revenue increase primarily included the following\nfactors:\nigher Textron Aviation revenues of $507 million, reflecting higher volume and mix of $302 million and higher pricing\nof $205 million.\nigher Industrial revenues of $335 million due to a favorable impact from pricing of $227 million, principally in the\nSpecialized ehicles product line, and higher volume and mix of $203 million in both product lines, partially offset by\nan unfavorable impact from exchange rate fluctuations of $95 million.\nLower ell revenues of $273 million due to lower military revenues of $333 million, primarily in the -1 program due to\nlower aircraft and spares production volume reflecting lower demand, partially offset by higher commercial revenues of\n$60 million, largely due to higher pricing.\nLower Textron Systems revenues of $101 million, largely due to lower volume of $121 million, which included an $88\nmillion decrease from our Afghanistan fee-for-service and aircraft support contracts.\nCost of Sales and Selling and Administrative Expense\nCost of sales includes cost of products and services sold for the Manufacturing group. In 2022, cost of sales increased $503\nmillion, 5, compared with 2021, largely due to an unfavorable impact from inflation of $385 million, principally reflecting\nhigher material costs in the Industrial and Textron Aviation segments. ross margin as a percentage of Manufacturing revenues\ndecreased 80 basis points in 2022, compared with 2021, as higher margin at the Textron Aviation segment, reflecting higher\nvolume and mix and pricing, was more than offset by lower margin at the other Manufacturing segments, primarily at the ell\nsegment due to lower volume and mix.\nSelling and administrative expense decreased $35 million, 3, in 2022, compar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_revenue_growth",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 12869m, prior year 12382m",
      "golden_context": "Page 30:\n\n higher volume and mix at both the Textron Aviation and Industrial segments, partially offset by lower volume and\nmix at the ell and Textron Systems segments. Our backlog increased 31, to $13.3 billion by the end of 2022, reflecting\nincreased demand in many of our businesses, including a 55 increase in backlog at the Textron Aviation segment. During 2022,\nwe continued to manage through the impacts of ongoing global supply chain shortagesdelays and labor shortages, in order to\nmeet customer demand. In December 2022, ell was awarded the development contract for the U.S. Army’s Future Long-Range\nAssault Aircraft (FLRAA) program as discussed in Item 1. usiness. Financial highlights for 2022 also include:\nenerated $1.5 billion of net cash from operating activities from our manufacturing businesses.\nInvested $601 million in research and development projects and $354 million in capital expenditures.\nReturned $867 million to our shareholders through the repurchase of 13.1 million shares of our common stock.\nFor an overview of our business segments, including a discussion of our major products and services, refer to Item 1. usiness. A\ndiscussion of our financial condition and operating results for 2022 compared with 2021 is provided below, while a discussion of\n2021 compared with 2020 can be found in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of\nOperations of our Annual Report on Form 10- for the year ended January 1, 2022. The following discussion should be read in\nconjunction with our Consolidated Financial Statements and related Notes included in Item 8. Financial Statements and\nSupplementary Data.\nConsolidated Results of Operations\nChange\nDollars n mllons 2022 2021 2020 2022 2021\nRevenues $ 12,869 $ 12,382 $ 11,651 4 6\nCost of sales 10,800 10,297 10,094 5 2\nross margin as a percentage of Manufacturing revenues 15.7 16.5 13.0\nSelling and administrative expense 1,186 1,221 1,045 (3) 17\nInterest expense, net 107 142 166 (25) (14)\nNon-service components of pension and postretirement\nincome, net 240 159 83 51 92\nRevenues\nRevenues increased $487 million, 4, in 2022, compared with 2021. The revenue increase primarily included the following\nfactors:\nigher Textron Aviation revenues of $507 million, reflecting higher volume and mix of $302 million and higher pricing\nof $205 million.\nigher Industrial revenues of $335 million due to a favorable impact from pricing of $227 million, principally in the\nSpecialized ehicles product line, and higher volume and mix of $203 million in both product lines, partially offset by\nan unfavorable impact from exchange rate fluctuations of $95 million.\nLower ell revenues of $273 million due to lower military revenues of $333 million, primarily in the -1 program due to\nlower aircraft and spares production volume reflecting lower demand, partially offset by higher commercial revenues of\n$60 million, largely due to higher pricing.\nLower Textron Systems revenues of $101 million, largely due to lower volume of $121 million, which included an $88\nmillion decrease from our Afghanistan fee-for-service and aircraft support contracts.\nCost of Sales and Selling and Administrative Expense\nCost of sales includes cost of products and services sold for the Manufacturing group. In 2022, cost of sales increased $503\nmillion, 5, compared with 2021, largely due to an unfavorable impact from inflation of $385 million, principally reflecting\nhigher material costs in the Industrial and Textron Aviation segments. ross margin as a percentage of Manufacturing revenues\ndecreased 80 basis points in 2022, compared with 2021, as higher margin at the Textron Aviation segment, reflecting higher\nvolume and mix and pricing, was more than offset by lower margin at the other Manufacturing segments, primarily at the ell\nsegment due to lower volume and mix.\nSelling and administrative expense decreased $35 million, 3, in 2022, compar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000254_segments",
      "report_id": "ID_000254",
      "company_name": "Textron",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Textron Aviation, ell, Textron Systems, Industrial and Textron\neAviation, which represent our manufacturing businesses, and Finance",
      "golden_context": "Page 13:\n\non Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to\nprovide customers with innovative products and services around the world. References to “Textron Inc.,” the “Company,” “we,”\n“our” and “us” in this Annual Report on Form 10-, unless otherwise indicated, refer to Textron Inc. and its consolidated\nsubsidiaries.\ne conduct our business through six operating segments: Textron Aviation, ell, Textron Systems, Industrial and Textron\neAviation, which represent our manufacturing businesses, and Finance, which represents our captive finance business. Our\nsegments include operations that are unincorporated divisions of Textron Inc. and others that are separately incorporated\nsubsidiaries. Total revenues by segment and customer type for 2022 are presented below.\n2022 Total Revenues by Segment\n2022 Total Revenues by Customer Type\nCommercial 8\nTextron Aviation 39.4\nIndustrial 2.0\nTextron eAviation 0.1\nFinance 0.4\nTextron Systems 9.1\nU.S. Government 22\nell 24.0\nThe following description of our business and operating segments should be read in conjunction with Item 7. Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations.\nTextron Aviation Segment\nTextron Aviation is a leader in general aviation. Textron Aviation manufactures, sells and services eechcraft and Cessna aircraft,\nand services the awker brand of business jets. The segment has two principal product lines: aircraft and aftermarket parts and\nservices. Aircraft includes sales of business jets, turboprop aircraft, military trainer and defense aircraft and piston engine aircraft.\nAftermarket parts and services includes commercial parts sales and maintenance, inspection and repair services. Textron Aviation\nmarkets its products worldwide through its own sales force, as well as through a network of authorized independent sales\nrepresentatives.\nThe family of jets currently offered by Textron Aviation includes the Citation M2 en2, Citation CJ3, Citation CJ4 en2,\nCitation XLS en2, Citati",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_cash_flow",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1270m, investing: -345m, financing: -776m",
      "golden_context": "Page 28:\n\nManufacturing Group Cash Flows\nCash flows from continuing operations for the Manufacturing group as presented in our Consolidated Statements of Cash Flows are summarized below:\n(In millions) 2023 2022 2021\nOperating activities $ 1,270 $ 1,461 $ 1,469\nInvesting activities (345) (511) (335)\nFinancing activities (776) (875) (1,349)\nCash flows from operating activities were $1,270 million in 2023, compared with $1,461 million from 2022, as higher earnings were more than offset by\nchanges in working capital, reflecting an increase in inventories and lower accounts payable, partially offset by a decrease in other assets. Net income tax\npayments were $338 million and $332 million in 2023 and 2022, respectively. Pension contributions were $45 million and $49 million in 2023 and 2022,\nrespectively.\nIn 2023, investing cash flows included capital expenditures of $402 million, partially offset by $40 million of net proceeds from corporate-owned life insurance\npolicies. Investing cash flows in 2022 included capital expenditures of $354 million and $202 million of net cash paid for business acquisitions, largely related\nto the Pipistrel acquisition.\nCash flows used by financing activities in 2023 included $1,168 million of cash paid to repurchase an aggregate of 16.2 million shares of our common stock\nunder the 2023 share repurchase plan described below, partially offset by $348 million of net proceeds from the issuance of long-term debt. In 2022, cash flows\nused by financing activities included $867 million of cash paid to repurchase an aggregate of 13.1 million shares of our common stock under a 2022 share\nrepurchase plan.\nOn July 24, 2023, Textron's Board of Directors approved a new program for the repurchase of up to 35 million shares of our common stock. This share\nrepurchase program allows us to continue our practice of repurchasing shares to offset the impact of dilution from stock-based compensation and benefit plans\nand for opportunistic capital management purposes. The new program has no expiration date and replaced the prior 2022 share repurchase program, which was\nutilized in 2022 for repurchases.\nDividend payments to shareholders totaled $16 million and $17 million in 2023 and 2022, respectively.\nFinance Group Cash Flows\nThe cash flows from continuing operations for the Finance group as presented in our Consolidated Statements of Cash Flows are summarized below:\n(In millions) 2023 2022 2021\nOperating activities $ 14 $ (7) $ (1)\nInvesting activities 11 100 185\nFinancing activities (37) (216) (97)\nIn 2023, cash flows from operating activities were $14 million, compared with cash outflows of $7 million in 2022. The $21 million increase in cash flows was\nprimarily due to higher earnings and $10 million in lower income tax payments.\nThe Finance group’s cash flows from investing activities primarily included collections on finance receivables totaling $169 million and $147 million in 2023\nand 2022, respectively, partially offset by finance receivable originations of $160 million and $92 million, respectively. Cash flows provided by investing\nactivities in 2022 also included $45 million of other investing activities, largely related to proceeds from the sale of operating lease assets. Cash flows used in\nfinancing activities included payments on long-term and nonrecourse debt of $37 million and $216 million in 2023 and 2022, respectively.\nConsolidated Cash Flows\nThe consolidated cash flows from continuing operations, after elimination of activity between the borrowing groups, are summarized below:\nOperating activities Investing activities (In millions) 2023 2022 2021\n$ 1,267 $ 1,490 $ 1,599\n(317) (447) (281)\nFinancing activities (813) (1,091) (1,446)\nConsolidated cash flows from operating activities were $1,267 million in 2023, compared with $1,490 million in 2022 as higher earnings were more than offset\nby changes in working capital and a net cash outflow from captive finan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_company_type",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 30, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to .\nCommission File Number 1-5480\nTextron Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 05-0315468\n(State or other jurisdiction of incorporation or organization) 40 Westminster Street, Providence, RI (Address of principal executive offices) (I.R.S. Employer Identification No.)\n02903\n(Zip code)\nRegistrant’s Telephone Number, Including Area Code: (401) 421-2800\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock — par value $0.125 Trading Symbol(s)\nTXT Name of Each Exchange on Which\nRegistered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n______________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. xYes ¨ No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act . ¨ Yes x No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months\n(or for such shorter period that the registrant was required to submit such files). x Yes ¨No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of\n“large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act (Check one):\nLarge accelerated filer x Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act.\n◻\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section\n404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ Yes ¨ No\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to\npreviously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers\nduring the relevant recovery period pursuant to §240.10D-1(b) ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes ☒ No\nThe aggregate market value of the registrant’s Common Stock held by non-affiliates at July 1, 2023 was approximately $13.3 billion based on the New York Stock Exchange closing price for such\nshares on that date. The registrant has no non-voting common equity.\nAt February 3, 2024, 192,853,981 shares of Common Stock were outstanding.\nDocuments Incorporated by Reference\nPart III of this Report incorporates information from certain portions of the registrant’s Definitive Proxy Statement for its Annual Meeting of Shareholders to be held on April 24, 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_key_financials",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 13683m, net income 921m, basic EPS 4.61",
      "golden_context": "Page 35:\n\nnsolidated Statements of Operations\nFor each of the years in the three-year period ended December 30, 2023\n(In millions, except per share data) 2023 2022 2021\nRevenues\nManufacturing product revenues $ 11,573 $ 10,945 $ 10,541\nManufacturing service revenues 2,055 1,872 1,792\nFinance revenues 55 52 49\nTotal revenues 13,683 12,869 12,382\nCosts, expenses and other\nCost of products sold 9,770 9,380 8,955\nCost of services sold 1,635 1,420 1,342\nSelling and administrative expense 1,225 1,186 1,221\nInterest expense, net 77 107 142\nSpecial charges 126\n—\n25\nNon-service components of pension and postretirement income, net (237) (240) (159)\nGain on business disposition —\n—\n(17)\nTotal costs, expenses and other 12,596 11,853 11,509\nIncome from continuing operations before income taxes 1,087 1,016 873\nIncome tax expense 165 154 126\nIncome from continuing operations $ 922 $ 862 $ 747\nLoss from discontinued operations (1) (1) Net income $ 921 $ 861 $ 746\nBasic Earnings per share\nContinuing operations $ 4.62 $ 4.05 $ 3.33\nDiscontinued operations (0.01) —\nBasic Earnings per share $ 4.61 $ 4.05 $ 3.33\nDiluted Earnings per share\nContinuing operations $ 4.57 $ 4.01 $ 3.30\nDiscontinued operations (0.01) —\nDiluted Earnings per share $ 4.56 $ 4.01 $ 3.30\n(1)\n—\n—\nSee Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_revenue",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenues: 13683m",
      "golden_context": "Page 35:\n\nnsolidated Statements of Operations\nFor each of the years in the three-year period ended December 30, 2023\n(In millions, except per share data) 2023 2022 2021\nRevenues\nManufacturing product revenues $ 11,573 $ 10,945 $ 10,541\nManufacturing service revenues 2,055 1,872 1,792\nFinance revenues 55 52 49\nTotal revenues 13,683 12,869 12,382\nCosts, expenses and other\nCost of products sold 9,770 9,380 8,955\nCost of services sold 1,635 1,420 1,342\nSelling and administrative expense 1,225 1,186 1,221\nInterest expense, net 77 107 142\nSpecial charges 126\n—\n25\nNon-service components of pension and postretirement income, net (237) (240) (159)\nGain on business disposition —\n—\n(17)\nTotal costs, expenses and other 12,596 11,853 11,509\nIncome from continuing operations before income taxes 1,087 1,016 873\nIncome tax expense 165 154 126\nIncome from continuing operations $ 922 $ 862 $ 747\nLoss from discontinued operations (1) (1) Net income $ 921 $ 861 $ 746\nBasic Earnings per share\nContinuing operations $ 4.62 $ 4.05 $ 3.33\nDiscontinued operations (0.01) —\nBasic Earnings per share $ 4.61 $ 4.05 $ 3.33\nDiluted Earnings per share\nContinuing operations $ 4.57 $ 4.01 $ 3.30\nDiscontinued operations (0.01) —\nDiluted Earnings per share $ 4.56 $ 4.01 $ 3.30\n(1)\n—\n—\nSee Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_revenue_growth",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 13683m, prior year 12869m",
      "golden_context": "Page 35:\n\nnsolidated Statements of Operations\nFor each of the years in the three-year period ended December 30, 2023\n(In millions, except per share data) 2023 2022 2021\nRevenues\nManufacturing product revenues $ 11,573 $ 10,945 $ 10,541\nManufacturing service revenues 2,055 1,872 1,792\nFinance revenues 55 52 49\nTotal revenues 13,683 12,869 12,382\nCosts, expenses and other\nCost of products sold 9,770 9,380 8,955\nCost of services sold 1,635 1,420 1,342\nSelling and administrative expense 1,225 1,186 1,221\nInterest expense, net 77 107 142\nSpecial charges 126\n—\n25\nNon-service components of pension and postretirement income, net (237) (240) (159)\nGain on business disposition —\n—\n(17)\nTotal costs, expenses and other 12,596 11,853 11,509\nIncome from continuing operations before income taxes 1,087 1,016 873\nIncome tax expense 165 154 126\nIncome from continuing operations $ 922 $ 862 $ 747\nLoss from discontinued operations (1) (1) Net income $ 921 $ 861 $ 746\nBasic Earnings per share\nContinuing operations $ 4.62 $ 4.05 $ 3.33\nDiscontinued operations (0.01) —\nBasic Earnings per share $ 4.61 $ 4.05 $ 3.33\nDiluted Earnings per share\nContinuing operations $ 4.57 $ 4.01 $ 3.30\nDiscontinued operations (0.01) —\nDiluted Earnings per share $ 4.56 $ 4.01 $ 3.30\n(1)\n—\n—\nSee Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000255_segments",
      "report_id": "ID_000255",
      "company_name": "Textron",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Textron Aviation, Bell, Textron Systems, Industrial and Textron eAviation, which represent our\nmanufacturing businesses, and Finance, which represents our captive finance business",
      "golden_context": "Page 3:\n\nT I\nItem 1. Business\nTextron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with\ninnovative products and services around the world. References to “Textron Inc.,\n” the “Company,\n” “we,\n” “our” and “us” in this Annual Report on Form 10-K,\nunless otherwise indicated, refer to Textron Inc. and its consolidated subsidiaries.\nWe conduct our business through six operating segments: Textron Aviation, Bell, Textron Systems, Industrial and Textron eAviation, which represent our\nmanufacturing businesses, and Finance, which represents our captive finance business. Our segments include numerous separately incorporated subsidiaries.\nTotal revenues for 2023 were $13.7 billion and are presented below by segment and customer type.\nThe following description of our business and operating segments should be read in conjunction with Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations.\nTextron Aviation Segment\nTextron Aviation is a leader in general aviation. Textron Aviation manufactures, sells and services Cessna and Beechcraft aircraft, and services the Hawker\nbrand of business jets. The segment has two principal product lines: aircraft and aftermarket parts and services. Aircraft includes sales of business jets,\nturboprop aircraft, military trainer and defense aircraft and piston engine aircraft. Aftermarket parts and services includes commercial parts sales and\nmaintenance, inspection and repair services.\nTextron Aviation's business jets include the Cessna Citation M2 Gen2, Citation CJ3 Gen2, Citation CJ4 Gen2, Citation XLS Gen2, Citation Latitude and the\nCitation Longitude. Textron Aviation’s turboprop aircraft include the Beechcraft King Air 260, King Air 360ER and King Air 360, and the Cessna Caravan,\nGrand Caravan EX and SkyCourier. In addition, Textron Aviation’s military trainer and defense aircraft include the Beechcraft T-6 trainer, which has been used\nto train pilots from more than 40 countries, and the AT-6 light attack military aircraft, which has achieved military type certification from the U.S. Air Force.\nTextron Aviation also offers piston engine aircraft including the Beechcraft Baron G58 and Bonanza G36, and the Cessna Skyhawk, Skylane, Turbo Skylane,\nand Turbo Stationair HD.\nTextron Aviation markets its products worldwide through its own sales force, as well as through a network of authorized independent sales representatives.\nWith a product lineup ranging from introductory training aircraft through super mid-size business jets, Textron Aviation’s diverse customer base includes\nfractional aircraft businesses, charte",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_cash_flow",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 645196k, investing: -445335k, financing: -468280k",
      "golden_context": "Page 60:\n\nF5, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended September 30,\n2021 2020 2019\n$ 331,241 $ 307,441 $ 427,734\nOperating activities\nNet income Adjustments to reconcile net income to net cash provided by operating\nactivities:\nStock-based compensation 243,279 201,948 162,914\nDepreciation and amortization 115,424 95,857 68,507\nNon-cash operating lease costs 38,375 39,139 —\nDeferred income taxes (76,930) 7,293 7,440\nImpairment of assets 40,698 9,673 6,273\nNon-cash provisions for exit costs — — 8,211\nOther 737 2,122 1,662\nChanges in operating assets and liabilities (excluding effects of the\nacquisition of businesses):\nAccounts receivable (46,289) 46,502 (18,305)\nInventories 5,843 6,503 (3,832)\nOther current assets (84,328) (49,895) (75,449)\nOther assets (110,653) (25,690) (22,742)\nAccounts payable and accrued liabilities 22,933 34,742 74,710\nDeferred revenue 216,431 35,514 110,718\nLease liabilities (51,565) (50,251) —\nNet cash provided by operating activities 645,196 660,898 747,841\nInvesting activities\nPurchases of investments Maturities of investments Sales of investments Acquisition of businesses, net of cash acquired Purchases of property and equipment (472,165) (584,240) (602,987)\n197,279 543,065 625,201\n271,521 309,687 278,244\n(411,319) (955,574) (611,550)\n(30,651) (59,940) (103,542)\nNet cash used in investing activities Financing activities\nProceeds from the exercise of stock options and purchases of stock under\nemployee stock purchase plan 65,752 52,835 45,598\nRepurchase of common stock (500,000) (100,016) (201,045)\nProceeds from term debt agreement — 400,000 —\nPayments on term debt agreement (20,000) (10,000) —\nPayments for debt issuance costs — (3,040) —\nTaxes paid related to net share settlement of equity awards (14,032) (2,536) —\nNet cash (used in) provided by financing activities (468,280) 337,243 (155,447)\nNet (decrease) increase in cash, cash equivalents and\nrestricted cash (268,419) 251,139 177,760\nEffect of exchange rate changes on cash, cash equivalents and restricted\ncash (74) (567) (1,400)\nCash, cash equivalents and restricted cash, beginning of year 852,826 602,254 425,894\nCash, cash equivalents and restricted cash, end of year $ 584,333 $ 852,826 $ 602,254\n(445,335) (747,002) (414,634)\n50\nYears Ended September 30,\n2021 2020 2019\nSupplemental disclosures of cash flow information\nCash paid for taxes, net of refunds $ 99,378 $ 80,236 $ 100,569\nCash paid for amounts included in the measurement of operating lease\nliabilities 61,504 60,564 —\nCash paid for interest on long-term debt 5,280 6,568 —\nSupplemental disclosures of non-cash activities\nRight-of-use assets obtained in exchange for lease obligations $ 13,051 $ 402,007 $ —\nCapitalized leasehold improvements paid directly by landlord — — 34,948\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_company_type",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 10:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n------------------------------------------------\nForm 10-K\n(Mark One)\nx ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\nFor the fiscal year ended September 30, 2021\nor\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\n¨\nOF 1934\nFor the transition period from to .\nCommission File Number 000-26041\n------------------------------------------------\nF5, Inc.\n(Exact name of Registrant as specified in its charter)\n------------------------------------------------\nWASHINGTON 91-1714307\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n801 5th Avenue\nSeattle, Washington 98104\n(Address of principal executive offices, including zip code)\n(206) 272-5555\n(Registrant’s telephone number, including area code)\nF5 Networks, Inc.\n(Former name or former address, if changed since last report)\nSecurities registered pursuant to Section 12(b) of the Act:\n------------------------------------------------\nTitle of Each Class Common stock, no par value Trading Symbol(s) FFIV Name of Each Exchange on Which Registered\nNASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n------------------------------------------------\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of\nthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was\nrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes x No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,\na smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”\n“accelerated filer,” “smaller reporting company” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n(Check one):\nLarge accelerated filer x Accelerated filer ¨ Smaller repo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_key_financials",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "net income of 331m, cash flow from operations 645m",
      "golden_context": "Page 8:\n\nOUR FINANCIAL PERFORMANCE\nDelivering Double Digit Revenue Growth in Fiscal Year 2021\nExecuting on our strategy and delivering for our customers drove $2.6 billion in fiscal year 2021 revenue,\nrepresenting 11% year-over-year growth, and clearly demonstrating we have strong momentum in our software\ntransformation.\nStrong go-to-market execution and growing adoption of NGINX and our other subscription-based consumption\nmodels drove 37% growth in non-GAAP software revenue for the year, solidly within our guidance range for 35%\nto 40% compound annual growth for fiscal years 2021 and 2022. Subscriptions represented 78% of our fiscal\nyear 2021 software revenue, up from 71% in fiscal year 2020. Growth in applications and in application usage\nalso drove 12% systems growth in fiscal year 2021. Our global services business demonstrated continued strong\nmaintenance attachment rates, delivering 2% growth for the year.\nDriving Strong Operating Results\nOur discipline in delivering strong operating results for the year led to fiscal year 2021 GAAP net income of $331\nmillion, or $5.34 per share. Fiscal year 2021 non-GAAP net income was $671 million, or $10.81 per share.1 For the\nyear, cash flow from operations also remained very strong, at approximately $645 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_revenue",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2603416k",
      "golden_context": "Page 45:\n\nResults of Operations\nThe following discussion and analysis should be read in conjunction with our consolidated financial statements and\nrelated notes included elsewhere in this Annual Report on Form 10-K.\nYears Ended September 30,\n2021 2020 2019\n(in thousands, except percentages)\nNet revenues\nProducts Total Percentage of net revenues\nProducts Total $ 1,247,084 $ 1,025,856 $ 985,591\nServices 1,356,332 1,324,966 1,256,856\n$ 2,603,416 $ 2,350,822 $ 2,242,447\n47.9 % 43.6 % 44.0 %\nServices 52.1 56.4 56.0\n100.0 % 100.0 % 100.0 %\nNet Revenues. Total net revenues increased 10.7% in fiscal year 2021 from fiscal year 2020, compared to an increase of\n4.8% in fiscal year 2020 from the prior year. Overall revenue growth for the year ended September 30, 2021 was due to\nincreases in both product and service revenue. The product revenue increase was driven by software revenue increases,\nspecifically from the addition of the software-as-a-service product offerings through the Shape acquisition and our subscription-\nbased offerings, which include software sold via our flexible consumption program or multi-year subscriptions. Service\nrevenues increased as a result of our increased installed base of products. In addition, our stand-alone security product revenue\nand our global services revenue associated with security continued to grow in fiscal 2021. Revenues outside of the United\nStates represented 47.5%, 48.1% and 49.3% of net revenues in fiscal years 2021, 2020 and 2019, respectively.\nNet Product Revenues. Net product revenues increased 21.6% in fiscal year 2021 from fiscal year 2020, compared to an\nincrease of 4.1% in fiscal year 2020 from the prior year. The increase of $221.2 million in net product sales for fiscal year 2021\nwas due to an increase in both software and systems revenue compared to the same period in the prior year. The increase of\n$40.3 million in net product sales for fiscal year 2020 was primarily due to an increase in software sales compared to the prior\nyear, partially offset by a decrease in systems revenue.\nThe following presents net product revenues by systems and software (in thousands):\nYears Ended September 30,\n2021 2020 2019\n$ 1,247,084 $ 1,025,856 $ 985,591\nNet product revenues\nSystems revenue $ 748,192 $ 668,313 $ 745,798\nSoftware revenue ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_revenue_growth",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "2603416k, 2350822k",
      "golden_context": "Page 45:\n\nResults of Operations\nThe following discussion and analysis should be read in conjunction with our consolidated financial statements and\nrelated notes included elsewhere in this Annual Report on Form 10-K.\nYears Ended September 30,\n2021 2020 2019\n(in thousands, except percentages)\nNet revenues\nProducts Total Percentage of net revenues\nProducts Total $ 1,247,084 $ 1,025,856 $ 985,591\nServices 1,356,332 1,324,966 1,256,856\n$ 2,603,416 $ 2,350,822 $ 2,242,447\n47.9 % 43.6 % 44.0 %\nServices 52.1 56.4 56.0\n100.0 % 100.0 % 100.0 %\nNet Revenues. Total net revenues increased 10.7% in fiscal year 2021 from fiscal year 2020, compared to an increase of\n4.8% in fiscal year 2020 from the prior year. Overall revenue growth for the year ended September 30, 2021 was due to\nincreases in both product and service revenue. The product revenue increase was driven by software revenue increases,\nspecifically from the addition of the software-as-a-service product offerings through the Shape acquisition and our subscription-\nbased offerings, which include software sold via our flexible consumption program or multi-year subscriptions. Service\nrevenues increased as a result of our increased installed base of products. In addition, our stand-alone security product revenue\nand our global services revenue associated with security continued to grow in fiscal 2021. Revenues outside of the United\nStates represented 47.5%, 48.1% and 49.3% of net revenues in fiscal years 2021, 2020 and 2019, respectively.\nNet Product Revenues. Net product revenues increased 21.6% in fiscal year 2021 from fiscal year 2020, compared to an\nincrease of 4.1% in fiscal year 2020 from the prior year. The increase of $221.2 million in net product sales for fiscal year 2021\nwas due to an increase in both software and systems revenue compared to the same period in the prior year. The increase of\n$40.3 million in net product sales for fiscal year 2020 was primarily due to an increase in software sales compared to the prior\nyear, partially offset by a decrease in systems revenue.\nThe following presents net product revenues by systems and software (in thousands):\nYears Ended September 30,\n2021 2020 2019\n$ 1,247,084 $ 1,025,856 $ 985,591\nNet product revenues\nSystems revenue $ 748,192 $ 668,313 $ 745,798\nSoftware revenue ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000256_segments",
      "report_id": "ID_000256",
      "company_name": "F5",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 91:\n\nloyee Benefit Plans\nThe Company has a 401(k) savings plan whereby eligible employees may voluntarily contribute a percentage of their\ncompensation. The Company may, at its discretion, match a portion of the employees’ eligible contributions. Contributions by\nthe Company to the plan during the years ended September 30, 2021, 2020, and 2019 were approximately $13.2 million, $11.3\nmillion and $10.5 million, respectively. Contributions made by the Company vest over four years.\n16. Segment Information\nOperating segments are defined as components of an enterprise for which separate financial information is available and\nevaluated regularly by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and\nin assessing performance. Management has determined that the Company is organized as, and operates in, one reportable\noperating segment: the development, marketing and sale of application services that optimize the security, performance and\navailability of network applications, servers and storage systems.\nRevenues by Geographic Location and Other Information\nThe Company does business in three main geographic regions: the Americas (primarily the United States); Europe, the\nMiddle East, and Africa (EMEA); and the Asia Pacific region (APAC). The Company’s chief operating decision-maker reviews\nfinancial information presented on a consolidated basis accompanied by information about revenues by geographic region. The\nCompany’s foreign offices conduct sales, marketing and support activities. Revenues are attributed by geographic location\nbased on the location of the customer.\nThe following presents revenues by geographic region (in thousands):\nYears Ended September 30,\n2021 2020 2019\nAmericas:\nUnited States $ 1,365,625 $ 1,221,190 $ 1,137,556\nOther 92,111 95,878 108,112\nTotal Americas 1,457,736 1,317,068 1,245,668\nEMEA 667,219 593,307 553,701\nAsia Pacific 478,461 440,447 443,078\n$ 2,603,416 $ 2,350,822 $ 2,242,447\nThe Company generates revenues from the sale of products and services. The Company continues to offer its products\nthrough a range of consumption models, from physical systems to software solutions and managed services. The following\npresents net product revenues by systems and software (in thousands):\nYears Ended September 30,\nNet product revenues\nSystems revenue Software revenue Total net product revenue The following distributors of the Company's products accounted for more than 10% of total net revenue:\nYears Ended September 30,\n2021 2020 2019\n$ 748,192 $ 668,313 $ 745,798\n498,892 357,543 239,793\n$ 1,247,084 $ 1,025,856 $ 985,591\nIngram Micro, Inc. Tech Data Westcon Group, Inc. Synnex Corporation 2021 2020 2019\n19.2 % 16.7 % 18.2 %\n— — 10.2 %\n— — 10.0 %\n11.1 % — —\n81\nThe following distributors of the Comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_cash_flow",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 442631k, investing: 218116k, financing: -476508k",
      "golden_context": "Page 57:\n\nF5, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended September 30,\n2022 2021 2020\n$ 322,160 $ 331,241 $ 307,441\nOperating activities\nNet income Adjustments to reconcile net income to net cash provided by operating\nactivities:\nStock-based compensation 249,216 243,279 201,948\nDepreciation and amortization 115,609 115,424 95,857\nNon-cash operating lease costs 38,735 38,375 39,139\nDeferred income taxes (40,244) (76,930) 7,293\nImpairment of assets 6,175 40,698 9,673\nOther 1,267 737 2,122\nChanges in operating assets and liabilities (excluding effects of the\nacquisition of businesses):\nAccounts receivable (130,605) (46,289) 46,502\nInventories (46,310) 5,843 6,503\nOther current assets (144,628) (84,328) (49,895)\nOther assets (87,008) (110,653) (25,690)\nAccounts payable and accrued liabilities 19,163 22,933 34,742\nDeferred revenue 191,147 216,431 35,514\nLease liabilities (52,046) (51,565) (50,251)\nNet cash provided by operating activities 442,631 645,196 660,898\nInvesting activities\nPurchases of investments (61,284) (472,165) (584,240)\nMaturities of investments 260,357 197,279 543,065\nSales of investments 120,578 271,521 309,687\nAcquisition of businesses, net of cash acquired (67,911) (411,319) (955,574)\nPurchases of property and equipment (33,624) (30,651) (59,940)\nNet cash provided by (used in) investing activities 218,116 (445,335) (747,002)\nFinancing activities\nProceeds from the exercise of stock options and purchases of stock under\nemployee stock purchase plan 64,540 65,752 52,835\nRepurchase of common stock (500,023) (500,000) (100,016)\nProceeds from term debt agreement — — 400,000\nPayments on term debt agreement (20,000) (20,000) (10,000)\nPayments for debt issuance costs — — (3,040)\nTaxes paid related to net share settlement of equity awards (21,025) (14,032) (2,536)\nNet cash (used in) provided by financing activities (476,508) (468,280) 337,243\nNet increase (decrease) in cash, cash equivalents and\nrestricted cash 184,239 (268,419) 251,139\nEffect of exchange rate changes on cash, cash equivalents and restricted\ncash (6,365) (74) (567)\nCash, cash equivalents and restricted cash, beginning of year 584,333 852,826 602,254\nCash, cash equivalents and restricted cash, end of year $ 762,207 $ 584,333 $ 852,826\n49\nYears Ended September 30,\n2022 2021 2020\nSupplemental disclosures of cash flow information\nCash paid for taxes, net of refunds $ 110,036 $ 99,378 $ 80,236\nCash paid for amounts included in the measurement of operating lease\nliabilities 58,592 61,504 60,564\nCash paid for interest on long-term debt 7,981 5,280 6,568\nSupplemental disclosures of non-cash activities\nRight-of-use assets obtained in exchange for lease obligations $ 20,778 $ 13,051 $ 402,007\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_company_type",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 8:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\n(Mark One)\n1934\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\nFor the fiscal year ended September 30, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from to .\nCommission File Number 000-26041\nF5, Inc.\n(Exact name of Registrant as specified in its charter)\nWashington 91-1714307\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n801 5th Avenue\nSeattle, Washington 98104\n(Address of principal executive offices, including zip code)\n(206) 272-5555\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common stock, no par value Trading Symbol(s) FFIV Securities registered pursuant to Section 12(g) of the Act:\nNone\nName of Each Exchange on Which Registered\nNASDAQ Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_key_financials",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "2.7bn revenue, 4% growth. net income 322m. 5.27 per share",
      "golden_context": "Page 3:\n\nOUR FINANCIAL PERFORMANCE\nExecuting on our strategy and delivering for our customers drove $2.7 billion in fiscal year 2022 revenue,\nrepresenting 4% year-over-year growth driven by 6% product growth and 2% global services growth. In addition\nto delivering strong software revenue growth of 33%, and software revenue contributing the majority of our\nproduct revenue, our operating discipline led to fiscal year 2022 GAAP net income of $322 million, or $5.27 per\nshare. Fiscal year 2022 non-GAAP net income was $623 million, or $10.19 per share.1 For the year, cash flow from\noperations also remained very strong, at approximately $443 million.\nWe achieved these results despite a global supply chain crisis that significantly constrained our ability to meet\ncustomer demand for hardware, while also pressuring our earnings as a result of sharply escalating component\nand supply chain costs. In true F5 fashion, we tackled this challenge from multiple fronts. While our supply chain\nteam worked with our vendors and partners to improve the flow of thousands of components, our engineering\nteams worked tirelessly to adapt our hardware designs to reduce our reliance on components that are in short\nsupply. We expect that these efforts, combined with increased capacity from our component vendors, will\nmeaningfully improve our ability to meet customer demand for our systems in fiscal year 2023.\nWhile I am extremely proud of the F5 team and its ability to cope with adversity, because of the extreme supply\nchain challenges, we did not deliver the earnings growth we expected in fiscal year 2022. However, we have\nbuilt an extremely resilient business and an operating model capable of significant leverage, which is why we are\ncommitted to achieving double-digit non-GAAP earnings growth annually.\nOUR ESG EFFORTS ARE CORE TO OUR BUSINESS AND OUR STRATEGY\nAt F5, we care deeply not just abou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_revenue",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2695845k",
      "golden_context": "Page 54:\n\nF5, INC.\nCONSOLIDATED INCOME STATEMENTS\n(in thousands, except per share amounts)\nYears Ended September 30,\n2022 2021 2020\nNet revenues\nProducts $ 1,317,117 $ 1,247,084 $ 1,025,856\nServices 1,378,728 1,356,332 1,324,966\nTotal 2,695,845 2,603,416 2,350,822\nCost of net revenues\nProducts 319,713 286,293 215,275\nServices 219,914 206,853 192,612\nTotal 539,627 493,146 407,887\nGross profit 2,156,218 2,110,270 1,942,935\nOperating expenses\nSales and marketing 926,591 929,983 843,178\nResearch and development 543,368 512,627 441,324\nGeneral and administrative 274,558 273,635 258,366\nRestructuring charges 7,909 — 7,800\nTotal 1,752,426 1,716,245 1,550,668\nIncome from operations Other (expense) income, net Income before income taxes Provision for income taxes Net income Net income per share — basic Weighted average shares — basic Net income per share — diluted Weighted average shares — diluted 403,792 394,025 392,267\n(18,399) (7,088) 4,130\n385,393 386,937 396,397\n63,233 55,696 88,956\n$ 322,160 $ 331,241 $ 307,441\n$ 5.34 $ 5.46 $ 5.05\n60,274 60,707 60,911\n$ 5.27 $ 5.34 $ 5.01\n61,097 62,057 61,378\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_revenue_growth",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "2695845k, 2603416k prior year",
      "golden_context": "Page 54:\n\nF5, INC.\nCONSOLIDATED INCOME STATEMENTS\n(in thousands, except per share amounts)\nYears Ended September 30,\n2022 2021 2020\nNet revenues\nProducts $ 1,317,117 $ 1,247,084 $ 1,025,856\nServices 1,378,728 1,356,332 1,324,966\nTotal 2,695,845 2,603,416 2,350,822\nCost of net revenues\nProducts 319,713 286,293 215,275\nServices 219,914 206,853 192,612\nTotal 539,627 493,146 407,887\nGross profit 2,156,218 2,110,270 1,942,935\nOperating expenses\nSales and marketing 926,591 929,983 843,178\nResearch and development 543,368 512,627 441,324\nGeneral and administrative 274,558 273,635 258,366\nRestructuring charges 7,909 — 7,800\nTotal 1,752,426 1,716,245 1,550,668\nIncome from operations Other (expense) income, net Income before income taxes Provision for income taxes Net income Net income per share — basic Weighted average shares — basic Net income per share — diluted Weighted average shares — diluted 403,792 394,025 392,267\n(18,399) (7,088) 4,130\n385,393 386,937 396,397\n63,233 55,696 88,956\n$ 322,160 $ 331,241 $ 307,441\n$ 5.34 $ 5.46 $ 5.05\n60,274 60,707 60,911\n$ 5.27 $ 5.34 $ 5.01\n61,097 62,057 61,378\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000257_segments",
      "report_id": "ID_000257",
      "company_name": "F5",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 85:\n\nBenefit Plans\nThe Company has a 401(k) savings plan whereby eligible employees may voluntarily contribute a percentage of their\ncompensation. The Company may, at its discretion, match a portion of the employees’ eligible contributions. Contributions by\nthe Company to the plan during the years ended September 30, 2022, 2021, and 2020 were approximately $14.0 million, $13.2\nmillion and $11.3 million, respectively. Contributions made by the Company vest over four years.\n15. Segment Information\nOperating segments are defined as components of an enterprise for which separate financial information is available and\nevaluated regularly by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and\nin assessing performance. Management has determined that the Company is organized as, and operates in, one reportable\noperating segment: the development, marketing and sale of application security and delivery solutions which enable its\ncustomers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public\ncloud.\nRevenues by Geographic Location and Other Information\nThe Company does business in three main geographic regions: the Americas (primarily the United States); Europe, the\nMiddle East, and Africa (EMEA); and the Asia Pacific region (APAC). The Company’s chief operating decision-maker reviews\nfinancial information presented on a consolidated basis accompanied by information about revenues by geographic region. The\nCompany’s foreign offices conduct sales, marketing and support activities. Revenues are attributed by geographic location\nbased on the location of the customer.\nThe following presents revenues by geographic region (in thousands):\nYears Ended September 30,\n2022 2021 2020\nAmericas:\nUnited States $ 1,487,144 $ 1,365,625 $ 1,221,190\nOther 85,711 92,111 95,878\nTotal Americas 1,572,855 1,457,736 1,317,068\nEMEA 634,759 667,219 593,307\nAsia Pacific",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000258_cash_flow",
      "report_id": "ID_000258",
      "company_name": "F5",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "cash flow from operations 653m",
      "golden_context": "Page 3:\n\nependence, diversity, and tenure of board membership to assess innovation, which is correlated with\nhigh performance.\nIn summary, in 2023 we leveraged and built upon our strengths to deliver on our commitments to our customers\nand our shareholders. I will use the rest of this letter to recap our fiscal year financial results in more detail, and\nto highlight several key elements of our strategy. I will conclude with thoughts about the year ahead.\nOUR FINANCIAL PERFORMANCE\nAs I noted, we delivered $2.8 billion in fiscal year 2023 revenue, representing 4% year-over-year growth, driven\nby 1% product growth and 7% global services growth.\nFaced with a demand environment that was softer than initially anticipated, we took decisive action to align our\noperating model accordingly. Through operating discipline, including the previously mentioned cost reductions,\nwe achieved fiscal year 2023 GAAP net income of $395 million, or $6.55 per share. We delivered non-GAAP net\nincome of $705 million, or $11.70 per share, representing 15% growth from fiscal year 2022, underscoring our\ncommitment to profitability.1\nCash flow from operations also remained very strong, at approximately $653 million for the year. Furthermore,\nwe fulfilled our commitment to shareholders by returning 58% of our annual free cash flow via share repurchases,\nsurpassing our 50% minimum pledge.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000258_key_financials",
      "report_id": "ID_000258",
      "company_name": "F5",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "2.8bn revenue, 4% revenue growth, net income 395m, 6.55 per share",
      "golden_context": "Page 3:\n\nependence, diversity, and tenure of board membership to assess innovation, which is correlated with\nhigh performance.\nIn summary, in 2023 we leveraged and built upon our strengths to deliver on our commitments to our customers\nand our shareholders. I will use the rest of this letter to recap our fiscal year financial results in more detail, and\nto highlight several key elements of our strategy. I will conclude with thoughts about the year ahead.\nOUR FINANCIAL PERFORMANCE\nAs I noted, we delivered $2.8 billion in fiscal year 2023 revenue, representing 4% year-over-year growth, driven\nby 1% product growth and 7% global services growth.\nFaced with a demand environment that was softer than initially anticipated, we took decisive action to align our\noperating model accordingly. Through operating discipline, including the previously mentioned cost reductions,\nwe achieved fiscal year 2023 GAAP net income of $395 million, or $6.55 per share. We delivered non-GAAP net\nincome of $705 million, or $11.70 per share, representing 15% growth from fiscal year 2022, underscoring our\ncommitment to profitability.1\nCash flow from operations also remained very strong, at approximately $653 million for the year. Furthermore,\nwe fulfilled our commitment to shareholders by returning 58% of our annual free cash flow via share repurchases,\nsurpassing our 50% minimum pledge.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000258_revenue",
      "report_id": "ID_000258",
      "company_name": "F5",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2.8bn revenue",
      "golden_context": "Page 3:\n\nependence, diversity, and tenure of board membership to assess innovation, which is correlated with\nhigh performance.\nIn summary, in 2023 we leveraged and built upon our strengths to deliver on our commitments to our customers\nand our shareholders. I will use the rest of this letter to recap our fiscal year financial results in more detail, and\nto highlight several key elements of our strategy. I will conclude with thoughts about the year ahead.\nOUR FINANCIAL PERFORMANCE\nAs I noted, we delivered $2.8 billion in fiscal year 2023 revenue, representing 4% year-over-year growth, driven\nby 1% product growth and 7% global services growth.\nFaced with a demand environment that was softer than initially anticipated, we took decisive action to align our\noperating model accordingly. Through operating discipline, including the previously mentioned cost reductions,\nwe achieved fiscal year 2023 GAAP net income of $395 million, or $6.55 per share. We delivered non-GAAP net\nincome of $705 million, or $11.70 per share, representing 15% growth from fiscal year 2022, underscoring our\ncommitment to profitability.1\nCash flow from operations also remained very strong, at approximately $653 million for the year. Furthermore,\nwe fulfilled our commitment to shareholders by returning 58% of our annual free cash flow via share repurchases,\nsurpassing our 50% minimum pledge.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000258_revenue_growth",
      "report_id": "ID_000258",
      "company_name": "F5",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "4% growth",
      "golden_context": "Page 3:\n\nependence, diversity, and tenure of board membership to assess innovation, which is correlated with\nhigh performance.\nIn summary, in 2023 we leveraged and built upon our strengths to deliver on our commitments to our customers\nand our shareholders. I will use the rest of this letter to recap our fiscal year financial results in more detail, and\nto highlight several key elements of our strategy. I will conclude with thoughts about the year ahead.\nOUR FINANCIAL PERFORMANCE\nAs I noted, we delivered $2.8 billion in fiscal year 2023 revenue, representing 4% year-over-year growth, driven\nby 1% product growth and 7% global services growth.\nFaced with a demand environment that was softer than initially anticipated, we took decisive action to align our\noperating model accordingly. Through operating discipline, including the previously mentioned cost reductions,\nwe achieved fiscal year 2023 GAAP net income of $395 million, or $6.55 per share. We delivered non-GAAP net\nincome of $705 million, or $11.70 per share, representing 15% growth from fiscal year 2022, underscoring our\ncommitment to profitability.1\nCash flow from operations also remained very strong, at approximately $653 million for the year. Furthermore,\nwe fulfilled our commitment to shareholders by returning 58% of our annual free cash flow via share repurchases,\nsurpassing our 50% minimum pledge.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_cash_flow",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1433m, investing: -851, financing: -413",
      "golden_context": "Page 43:\n\ne program will be automatically extended through April 11, 2025 unless either party provides 30 days notice of termination.\nDuring the fiscal year ended August 31, 2021, we sold $4.7 billion of trade accounts receivable under these programs and we received cash proceeds of $4.7 billion. As of August 31, 2021, we had up to $2.0 billion\nin available liquidity under our trade accounts receivable sale programs.\nCapital Expenditures\nFor Fiscal Year 2022, we anticipate our net capital expenditures will be approximately $830 million. In general, our capital expenditures support ongoing maintenance in our DMS and EMS segments and investments\nin capabilities and targeted end markets. The amount of actual capital expenditures may be affected by general economic, financial, competitive, legislative and regulatory factors, among other things.\nCash Flows\nThe following table sets forth selected consolidated cash flow information (in millions):\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents $ $ Fiscal Year Ended August 31,\n2021 2020 2019\n1,433 $ 1,257 $ (851) (921) (413) (65) 4 (40) 173 $ 231 $ 1,193\n(872)\n(416)\n—\n(95)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_company_type",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended August 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-14063\nJABIL INC.\n(Exact name of registrant as specified in its charter)\nDelaware 38-1886260\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n10560 Dr. Martin Luther King, Jr. Street North, St. Petersburg, Florida 33716\n(Address of principal executive offices) (Zip Code)\nTitle of each class Common Stock, $0.001 par value per share (727) 577-9749\nRegistrant’s telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) JBL Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_key_financials",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Net revenue: 29285m, gross profit: 2359m, operating income 1055m",
      "golden_context": "Page 32:\n\nhe fair market value of such hedging instruments are reflected within the Consolidated Statement of Operations and the Consolidated Statement of Comprehensive Income.\nSee Note 13 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements.\n2021 2020 2019\n$ 29,285 $ 27,266 $ 25,282\n$ 2,359 $ 1,931 $ 1,913\n$ 1,055 $ 500 $ 701\nNet income attributable to Jabil Inc. $ 696 $ 54 $ 287\nEarnings per share – basic $ 4.69 $ 0.36 $ 1.85\nEarnings per share – diluted $ 4.58 $ 0.35 $ 1.81\nCOVID-19\nThe COVID-19 pandemic, which began to impact us in January 2020, has continued to affect our business and the businesses of our customers and suppliers. Travel and business operation restrictions arising from\nvirus containment efforts of governments around the world have continued to impact our operations in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to\noperate but virus containment efforts have resulted in additional direct costs.\nDuring the fiscal year ended August 31, 2020, we incurred approximately $142 million in direct costs associated with the COVID-19 outbreak, primarily due to incremental and idle labor costs and the procurement of\npersonal protection equipment for our employees globally. This increase in costs was partially offset by governmental subsidies, such as lower payroll taxes or social insurance in certain countries, related to COVID-19\nincentives.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production requirements and challenges in transporting completed products to our\nend customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\nNet revenue Gross profit Operating income Key Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating assets and liabilities are largely affected by our working capital\nrequirements, which are dependent on the effective management of our sales cycle as well as timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales.\nWe believe the metrics set forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts receivable and accounts payable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\nThree Months Ended\nSales cycle (1)\nInventory turns (annualized) Days in accounts receivable Days in inventory (4)\nDays in accounts payable (5)\n90 days 84 days 75 days\n(1)\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the variance in the sales cycle quarter over quarter is a direct result of\n(2)\nchanges in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_revenue",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Net revenue: 29285m",
      "golden_context": "Page 32:\n\nhe fair market value of such hedging instruments are reflected within the Consolidated Statement of Operations and the Consolidated Statement of Comprehensive Income.\nSee Note 13 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements.\n2021 2020 2019\n$ 29,285 $ 27,266 $ 25,282\n$ 2,359 $ 1,931 $ 1,913\n$ 1,055 $ 500 $ 701\nNet income attributable to Jabil Inc. $ 696 $ 54 $ 287\nEarnings per share – basic $ 4.69 $ 0.36 $ 1.85\nEarnings per share – diluted $ 4.58 $ 0.35 $ 1.81\nCOVID-19\nThe COVID-19 pandemic, which began to impact us in January 2020, has continued to affect our business and the businesses of our customers and suppliers. Travel and business operation restrictions arising from\nvirus containment efforts of governments around the world have continued to impact our operations in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to\noperate but virus containment efforts have resulted in additional direct costs.\nDuring the fiscal year ended August 31, 2020, we incurred approximately $142 million in direct costs associated with the COVID-19 outbreak, primarily due to incremental and idle labor costs and the procurement of\npersonal protection equipment for our employees globally. This increase in costs was partially offset by governmental subsidies, such as lower payroll taxes or social insurance in certain countries, related to COVID-19\nincentives.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production requirements and challenges in transporting completed products to our\nend customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\nNet revenue Gross profit Operating income Key Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating assets and liabilities are largely affected by our working capital\nrequirements, which are dependent on the effective management of our sales cycle as well as timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales.\nWe believe the metrics set forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts receivable and accounts payable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\nThree Months Ended\nSales cycle (1)\nInventory turns (annualized) Days in accounts receivable Days in inventory (4)\nDays in accounts payable (5)\n90 days 84 days 75 days\n(1)\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the variance in the sales cycle quarter over quarter is a direct result of\n(2)\nchanges in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_revenue_growth",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue: 29285m, 27266m prior year",
      "golden_context": "Page 32:\n\nhe fair market value of such hedging instruments are reflected within the Consolidated Statement of Operations and the Consolidated Statement of Comprehensive Income.\nSee Note 13 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements.\n2021 2020 2019\n$ 29,285 $ 27,266 $ 25,282\n$ 2,359 $ 1,931 $ 1,913\n$ 1,055 $ 500 $ 701\nNet income attributable to Jabil Inc. $ 696 $ 54 $ 287\nEarnings per share – basic $ 4.69 $ 0.36 $ 1.85\nEarnings per share – diluted $ 4.58 $ 0.35 $ 1.81\nCOVID-19\nThe COVID-19 pandemic, which began to impact us in January 2020, has continued to affect our business and the businesses of our customers and suppliers. Travel and business operation restrictions arising from\nvirus containment efforts of governments around the world have continued to impact our operations in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to\noperate but virus containment efforts have resulted in additional direct costs.\nDuring the fiscal year ended August 31, 2020, we incurred approximately $142 million in direct costs associated with the COVID-19 outbreak, primarily due to incremental and idle labor costs and the procurement of\npersonal protection equipment for our employees globally. This increase in costs was partially offset by governmental subsidies, such as lower payroll taxes or social insurance in certain countries, related to COVID-19\nincentives.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production requirements and challenges in transporting completed products to our\nend customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\nNet revenue Gross profit Operating income Key Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating assets and liabilities are largely affected by our working capital\nrequirements, which are dependent on the effective management of our sales cycle as well as timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales.\nWe believe the metrics set forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts receivable and accounts payable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\nThree Months Ended\nSales cycle (1)\nInventory turns (annualized) Days in accounts receivable Days in inventory (4)\nDays in accounts payable (5)\n90 days 84 days 75 days\n(1)\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the variance in the sales cycle quarter over quarter is a direct result of\n(2)\nchanges in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000259_segments",
      "report_id": "ID_000259",
      "company_name": "Jabil",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Two reportable segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”)",
      "golden_context": "Page 4:\n\nBusiness\nThe Company\nWe are one of the leading providers of worldwide manufacturing services and solutions. We provide comprehensive electronics design, production and product management services to companies in various\nindustries and end markets. Our services enable our customers to reduce manufacturing costs, improve supply-chain management, reduce inventory obsolescence, lower transportation costs and reduce product fulfillment\ntime. Our manufacturing and supply chain management services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of resources and products.\nWe serve our customers primarily through dedicated business units that combine highly automated, continuous flow manufacturing with advanced electronic design and design for manufacturability. We conduct our\noperations in facilities that are located worldwide, including but not limited to, China, Hungary, Malaysia, Mexico, Singapore, and the United States. Our global manufacturing production sites allow customers to\nmanufacture products simultaneously in the optimal locations for their products. Our global presence is key to assessing and executing on our business opportunities. For the fiscal year ended August 31, 2021, we had net\nrevenues of $29.3 billion and net income attributable to Jabil Inc. of $696 million.\nWe have two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized based on the economic profiles of the services performed,\nincluding manufacturing capabilities, market strategy, margins, return on capital and risk profiles. Our EMS segment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on\ncore electronics, utilizing our large scale manufacturing infrastructure and our ability to serve a broad range of end markets. Our EMS segment is a high volume business that produces product at a quicker rate (i.e. cycle\ntime) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-cap, and networking and storage industries. Our DMS segment is focused on\nproviding engineering solutions, with an emphasis on material sciences, machining, tooling, and molding of highly engineered plastic and metal parts. Our DMS includes customers primarily in the automotive and\ntransportation, connected devices, healthcare and packaging, and mobility industries.\nAs of September 1, 2020, certain customers were realigned within our operating segments. Our operating segments, which are the reporting segments, continue to consist of the DMS and EMS segments. Customers\nwithin the automotive and transportation and smart home and appliances industries are now presented within the DMS segment. Prior period disclosures are restated to reflect the realignment.\nAdditional financial information regarding our reportable operating segments is included in Item 7 of this report and Note 13 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements.\nIndustry Background\nThe industry in which we operate has historically been composed of companies that provide a range of design and manufacturing services to companies that utilize electronics components in their products. In recent\nyears, the industry has expanded to include customers that require products and services beyond electronic components including plastics and metal components, packaging, and injection molding.\nWe monitor the current economic environment and its potential impact on both the customers we serve as well as our end markets and closely manage our costs and capital resources so that we can respond\nappropriately as circumstances change. Over the long term we believe the factors driving our customers and potential customers to use our industry’s services include:\n• Efficient Manufacturing. Manufacturing service providers are often able to manufacture products at a reduced total cost to companies. These cost advantages result from higher utilization of capacity and\nefficiencies of scale because of diversified product demand and, generally, a greater focus on the components of manufacturing cost. Companies are increasingly seeking to reduce their investment in inventory,\nfacilities and equipment used in manufacturing and prioritizing capital investments in other activities such as sales and marketing and research and development (“R&D”). This strategic shift in capital deployment\nhas contributed to increased demand for and interest in outsourcing to external manufacturing service providers.\n• Accelerated Product Time-to-Market and Time-to-Volume. Manufacturing service providers are often able to deliver accelerated production start-ups and achieve high efficiencies in bringing new products to\nproduction. Providers are also able to more rapidly scale production for changing markets and to position themselves in global locations that",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_cash_flow",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1651m, investing: -858, financing: -888, cash flow total: -89",
      "golden_context": "Page 42:\n\nbe automatically extended through December 5, 2024 unless either party provides 30 days notice of termination.\nThe program will be automatically extended through April 11, 2025 unless either party provides 30 days notice of termination.\nDuring the fiscal year ended August 31, 2022, we sold $8.5 billion of trade accounts receivable under these programs and we received cash proceeds of\n$8.5 billion. As of August 31, 2022, we had up to $1.6 billion in available liquidity under our trade accounts receivable sale programs.\nCash Flows\nThe following table sets forth selected consolidated cash flow information (in millions):\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents Fiscal Year Ended August 31,\n2022 2021 2020\n$ 1,651 $ 1,433 $ 1,257\n(858) (851) (921)\n(888) (413) (65)\n6 4 (40)\nNet (decrease) increase in cash and cash equivalents $ (89) $ 173 $ 231\nOperating Activities\nNet cash provided by operating activities during the fiscal year ended August 31, 2022 was primarily due to increased accounts payable, accrued\nexpenses and other liabilities, non-cash expenses and net income, partially offset by increased inventories, accounts receivable, prepaid expenses and\nother current assets and contract assets. The increase in accounts payable, accrued expenses and other liabilities is primarily due to the timing of\npurchases and cash payments. The increase in inventories is primarily due to higher raw material balances due to supply chain constraints and to support\nexpected sales levels in the first quarter of fiscal year 2023. The increase in accounts receivable is primarily driven by higher sales and the timing of\ncollections. The increase in prepaid expenses and other current assets is primarily driven by the timing of payments. The increase in contract assets is\nprimarily due to the timing of billings to our customers.\nInvesting Activities\nNet cash used in investing activities during the fiscal year ended August 31, 2022 consisted primarily of capital expenditures principally to support ongoing\nbusiness in the DMS and EMS segments, partially offset by proceeds and advances from the sale of property, plant and equipment.\nFinancing Activities\nNet cash used in financing activities during the fiscal year ended August 31, 2022 was primarily due to (i) payments for debt agreements, (ii) the\nrepurchase of our common",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_company_type",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended August 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-14063\nJABIL INC.\n(Exact name of registrant as specified in its charter)\nDelaware 38-1886260\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n10800 Roosevelt Boulevard North , St. Petersburg, Florida 33716\n(Address of principal executive offices) (Zip Code)\n(727) 577-9749\nRegistrant’s telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol(s) JBL Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_key_financials",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "EPS basic 7.06, EPS diluted 6.9, gross profit 2632",
      "golden_context": "Page 32:\n\ns in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to operate but virus\ncontainment efforts have resulted in additional direct costs.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production\nrequirements and challenges in transporting completed products to our end customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\n2022 2021 2020\nNet revenue $ 33,478 $ 29,285 $ 27,266\nGross profit $ 2,632 $ 2,359 $ 1,931\nOperating income $ 1,393 $ 1,055 $ 500\nNet income attributable to Jabil Inc. $ 996 $ 696 $ 54\nEarnings per share – basic $ 7.06 $ 4.69 $ 0.36\nEarnings per share – diluted $ 6.90 $ 4.58 $ 0.35\nThree Months Ended\nAugust 31, 2022 May 31, 2022 August 31, 2021\nSales cycle (1)\n32 days 37 days 19 days\nInventory turns (annualized) (2)\n5 turns 4 turns 5 turns\nDays in accounts receivable (3)\n40 days 35 days 38 days\nDays in inventory (4)\n79 days 85 days 71 days\n(5)\nDays in accounts payable 87 days 83 days 90 days\nKey Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating\nassets and liabilities are largely affected by our working capital requirements, which are dependent on the effective management of our sales cycle as well\nas timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales. We believe the metrics\nset forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts\nreceivable and accounts payable.\nThe following table sets forth, for the quarterl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_revenue",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Net revenue 33478m",
      "golden_context": "Page 32:\n\nhe COVID-19 pandemic, which began to impact us in January 2020, has continued to affect our business and the businesses of our customers and\nsuppliers. Travel and business operation restrictions arising from virus containment efforts of governments around the world have continued to impact our\noperations in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to operate but virus\ncontainment efforts have resulted in additional direct costs.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production\nrequirements and challenges in transporting completed products to our end customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\n2022 2021 2020\nNet revenue $ 33,478 $ 29,285 $ 27,266\nGross profit $ 2,632 $ 2,359 $ 1,931\nOperating income $ 1,393 $ 1,055 $ 500\nNet income attributable to Jabil Inc. $ 996 $ 696 $ 54\nEarnings per share – basic $ 7.06 $ 4.69 $ 0.36\nEarnings per share – diluted $ 6.90 $ 4.58 $ 0.35\nThree Months Ended\nAugust 31, 2022 May 31, 2022 August 31, 2021\nSales cycle (1)\n32 days 37 days 19 days\nInventory turns (annualized) (2)\n5 turns 4 turns 5 turns\nDays in accounts receivable (3)\n40 days 35 days 38 days\nDays in inventory (4)\n79 days 85 days 71 days\n(5)\nDays in accounts payable 87 days 83 days 90 days\nKey Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating\nassets and liabilities are largely affected by our working capital requirements, which are dependent on the effective management of our sales cycle as well\nas timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales. We believe the metrics\nset forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts\nreceivable and accounts payable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\n(1)\n(2)\n(3)\n(4)\n(5)\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the\nvariance in the sales cycle quarter over quarter is a direct result of changes in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.\nDays in accounts receivable is calculated as accounts receivable, net, divided by net revenue multiplied by 90 d",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_revenue_growth",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue 33478m, prior year 29285m",
      "golden_context": "Page 32:\n\nhe COVID-19 pandemic, which began to impact us in January 2020, has continued to affect our business and the businesses of our customers and\nsuppliers. Travel and business operation restrictions arising from virus containment efforts of governments around the world have continued to impact our\noperations in Asia, Europe and the Americas. Essential activity exceptions from these restrictions have allowed us to continue to operate but virus\ncontainment efforts have resulted in additional direct costs.\nThe impact on our suppliers has led to supply chain constraints, including difficulty sourcing materials necessary to fulfill customer production\nrequirements and challenges in transporting completed products to our end customers.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nFiscal Year Ended August 31,\n2022 2021 2020\nNet revenue $ 33,478 $ 29,285 $ 27,266\nGross profit $ 2,632 $ 2,359 $ 1,931\nOperating income $ 1,393 $ 1,055 $ 500\nNet income attributable to Jabil Inc. $ 996 $ 696 $ 54\nEarnings per share – basic $ 7.06 $ 4.69 $ 0.36\nEarnings per share – diluted $ 6.90 $ 4.58 $ 0.35\nThree Months Ended\nAugust 31, 2022 May 31, 2022 August 31, 2021\nSales cycle (1)\n32 days 37 days 19 days\nInventory turns (annualized) (2)\n5 turns 4 turns 5 turns\nDays in accounts receivable (3)\n40 days 35 days 38 days\nDays in inventory (4)\n79 days 85 days 71 days\n(5)\nDays in accounts payable 87 days 83 days 90 days\nKey Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating\nassets and liabilities are largely affected by our working capital requirements, which are dependent on the effective management of our sales cycle as well\nas timing of payments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales. We believe the metrics\nset forth below are useful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts\nreceivable and accounts payable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\n(1)\n(2)\n(3)\n(4)\n(5)\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the\nvariance in the sales cycle quarter over quarter is a direct result of changes in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.\nDays in accounts receivable is calculated as accounts receivable, net, divided by net revenue multiplied by 90 d",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000260_segments",
      "report_id": "ID_000260",
      "company_name": "Jabil",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”)",
      "golden_context": "Page 7:\n\nnagement services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of\nresources and products.\nWe serve our customers primarily through dedicated business units that combine highly automated, continuous flow manufacturing with advanced\nelectronic design and design for manufacturability. We conduct our operations in facilities that are located worldwide, including but not limited to China,\nIreland, Malaysia, Mexico, Singapore, and the United States. Our global manufacturing production sites allow customers to manufacture products\nsimultaneously in the optimal locations for their products. Our global presence is key to assessing and executing on our business opportunities. For the\nfiscal year ended August 31, 2022, we had net revenues of $33.5 billion and net income attributable to Jabil Inc. of $996 million.\nWe have two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized\nbased on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital and risk\nprofiles. Our EMS segment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics,\nutilizing our large scale manufacturing infrastructure and our ability to serve a broad range of end markets. Our EMS segment is a high volume business\nthat produces product at a quicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print\nand retail, industrial and semi-cap, and networking and storage industries. Our DMS segment is focused on providing engineering solutions, with an\nemphasis on material sciences, machining, tooling, and molding of highly engineered plastic and metal parts. Our DMS includes customers primarily in\nthe automotive and transportation, connected devices, healthcare and packaging, and mobility industries.\nAdditional financial information regarding our reportable operating segments is included in Item 7 of this report and Note 13 –\nSegment Data” to the Consolidated Financial Statements.\n“Concentration of Risk and\nIndustry Background\nThe industry in which we operate has historically been composed of companies that provide a range of design and manufacturing services to companies\nthat utilize electronics components in their products. In recent years, the industry has expanded to include customers that require products and services\nbeyond electronic components including plastics and metal components, packaging, and injection molding.\nWe monitor the current economic environment and its potential impact on both the customers we serve as well as our end markets and closely manage\nour costs and capital resources so that we can respond appropriately as circumstances change. Over the long term we believe the factors driving our\ncustomers and potential customers to use our industry’s services include:\n• Efficient Manufacturing. Manufacturing service providers are often able to manufacture products at a reduced total cost to companies. These\ncost advantages result from higher utilization of capacity and efficiencies of scale because of diversified product demand and, generally, a greater\nfocus on the components of manufacturing cost. Companies are increasingly seeking to reduce their investment in inventory, facilities and\nequipment used in manufacturing and prioritizing capital investments in other activities such as sales and marketing and research and\ndevelopment (“R&D”). This ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_cash_flow",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1734m, investing: -723m, financing: -680m, total cash flow 326m",
      "golden_context": "Page 42:\n\nng the fiscal year ended August 31, 2023, we sold $10.8 billion of trade accounts receivable under these programs and we received cash proceeds of $10.7\nbillion. As of August 31, 2023, we had up to $1.8 billion in available liquidity under our trade accounts receivable sale programs.\nCash Flows\nThe following table sets forth selected consolidated cash flow information (in millions):\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents 4\nFiscal Year Ended August 31,\n2023 2022 2021\n$ 1,734 $ 1,651 $ 1,433\n(723) (858) (851)\n(680) (888) (413)\n(5) 6 Net increase (decrease) in cash and cash equivalents $ 326 $ (89) $ 173\nOperating Activities\nNet cash provided by operating activities during the fiscal year ended August 31, 2023, was primarily due to non-cash expenses and net income and a decrease\nin inventories, accounts receivable and contract assets. These decreases were partially offset by a decrease in accounts payable, accrued expenses and other\nliabilities and an increase in prepaid expenses and other current assets. The decrease in inventories is primarily driven by sales activity resulting in a higher\nconsumption of inventory and improved working capital management. The decrease in accounts receivable is primarily driven by the timing of collections. The\ndecrease in contract assets is primarily due to timing of revenue recognition for over time customers. The decrease in accounts payable, accrued expenses and\nother liabilities is primarily due to the timing of purchases and cash payments. The increase in prepaid expenses and other current assets is primarily due to the\ntiming of payments.\nInvesting Activities\nNet cash used in investing activities during the fiscal year ended August 31, 2023 consisted primarily of capital expenditures principally to support ongoing\nbusiness in the DMS and EMS segments, partially offset by proceeds and advances from the sale of property, plant and equipment and proceeds from the\nplanned divestiture of our mobility business.\nFinancing Activities\nNet cash used in financing activities during the fiscal year ended August 31, 2023 was primarily due to (i) payments for debt agreements, (ii) the repurchase of\nour common stock, (iii) dividend payments, and (iv) treasury stock minimum tax withholding related to vesting of restricted stock. Net cash used in financing\nactivities was partially offset by (i) borrowings under debt agreements and (ii) net proceeds from the exercise of stock options and issuance of common stock\nunder the employee stock purchase plan.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_company_type",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended August 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from to\nCommission file number 001-14063\nJABIL INC.\n(Exact name of registrant as specified in its charter)\nDelaware 38-1886260\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nTitle of each class Common Stock, $0.001 par value per share 10800 Roosevelt Boulevard North, St. Petersburg, Florida 33716\n(Address of principal executive offices) (Zip Code)\n(727) 577-9749\nRegistrant’s telephone number, including area code\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) JBL Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒ No ☐\nYes ☐ No ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_key_financials",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "revenues 34.7bn, net income attributable to Jabil Inc. 818m",
      "golden_context": "Page 5:\n\nPART I\nItem 1. Business\nThe Company\nWe are one of the leading providers of worldwide manufacturing services and solutions. We provide comprehensive electronics design, production and product\nmanagement services to companies in various industries and end markets. Our services enable our customers to reduce manufacturing costs, improve supply-\nchain management, reduce inventory obsolescence, lower transportation costs and reduce product fulfillment time. Our manufacturing and supply chain\nmanagement services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of resources and products.\nWe serve our customers primarily through dedicated business units that combine highly automated, continuous flow manufacturing with advanced electronic\ndesign and design for manufacturability. We conduct our operations in facilities that are located worldwide, including but not limited to China, India, Malaysia,\nMexico, Singapore, and the United States. Our global manufacturing production sites allow customers to manufacture products simultaneously in the optimal\nlocations for their products. Our global presence is key to assessing and executing on our business opportunities. For the fiscal year ended August 31, 2023, we\nhad net revenues of $34.7 billion and net income attributable to Jabil Inc. of $818 million.\nWe have two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized based\non the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital and risk profiles. Our EMS\nsegment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing our large scale\nmanufacturing infrastructure and our ability to serve a broad range of end markets. Our EMS segment is a high volume business that produces product at a\nquicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-\ncapital equipment, and networking and storage industries. Our DMS segment is focused on providing engineering solutions, with an emphasis on material\nsciences, machining, tooling, and molding of highly engineered plastic and metal parts. Our DMS includes customers primarily in the automotive and\ntransportation, connected devices, healthcare and packaging, and mobility industries.\nAdditional financial information regarding our reportable operating segments is included in Item 7 of this report and Note 13 –\nSegment Data” to the Consolidated Financial Statements.\n“Concentration of Risk and\nIndustry Background\nThe industry in which we operate has historically been composed of companies that provide a range of design and manufacturing services to companies that\nutilize electronics components in their products. In recent years, the industry has expanded to include customers that require products and services beyond\nelectronic components including plastics and metal components, packaging, and injection molding.\nWe monitor the current economic environment and its potential impact on both the customers we serve as well as our end markets and closely manage our costs\nand capital resources so that we can respond appropriately as circumstances change. Over the long term we believe the factors driving our customers and\npotential customers to use our industry’s services include:\n• Efficient Manufacturing. Manufacturing service providers are often able to manufacture products at a reduced total cost to companies. These cost\nadvantages result from higher utilization of capacity and efficiencies of scale because of diversified product demand and, generally, a greater focus on\nthe components of manufacturing cost. Companies are increasingly seeking to reduce their investment in inventory, facilities and equipment used in\nmanufacturing and prioritizing capital investments in other activities such as sales and marketing and research and development (“R&D”). This\nstrategic shift in capital deployment has contributed to increased de",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_revenue",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "34.7bn",
      "golden_context": "Page 5:\n\noviders of worldwide manufacturing services and solutions. We provide comprehensive electronics design, production and product\nmanagement services to companies in various industries and end markets. Our services enable our customers to reduce manufacturing costs, improve supply-\nchain management, reduce inventory obsolescence, lower transportation costs and reduce product fulfillment time. Our manufacturing and supply chain\nmanagement services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of resources and products.\nWe serve our customers primarily through dedicated business units that combine highly automated, continuous flow manufacturing with advanced electronic\ndesign and design for manufacturability. We conduct our operations in facilities that are located worldwide, including but not limited to China, India, Malaysia,\nMexico, Singapore, and the United States. Our global manufacturing production sites allow customers to manufacture products simultaneously in the optimal\nlocations for their products. Our global presence is key to assessing and executing on our business opportunities. For the fiscal year ended August 31, 2023, we\nhad net revenues of $34.7 billion and net income attributable to Jabil Inc. of $818 million.\nWe have two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized based\non the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital and risk profiles. Our EMS\nsegment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing our large scale\nmanufacturing infrastructure and our ability to serve a broad range of end markets. Our EMS segment is a high volume business that produces product at a\nquicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-\ncapital equipment, and networking and storage industries. Our DMS segment is focused on providing engineering solutions, with an emphasis on material\nsciences, machining, tooling, and molding of highly engineered plastic and metal parts. Our DMS includes customers primarily in the automotive and\ntransportation, connected devices, healthcare and packaging, and mobility industries.\nAdditional financial information regarding our reportable operating segments is included in Item 7 of this report and Note 13 –\nSegment Data” to the Consol",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_revenue_growth",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "34.7bn, prior year 33478m",
      "golden_context": "Page 31:\n\nhin the first two quarters of our fiscal year 2024 (which is the period from September 1, 2023 through February 29, 2024), and is subject\nto closing conditions, including required regulatory approvals.\nSee Note 13 –\n“Concentration of Risk and Segment Data” to the Consolidated Financial Statements.\nSummary of Results\nThe following table sets forth, for the periods indicated, certain key operating results and other financial information (in millions, except per share data):\nNet revenue Fiscal Year Ended August 31,\n2023 2022 2021\n$ 34,702 $ 33,478 $ 29,285\nGross profit $ 2,867 $ 2,632 $ 2,359\nOperating income $ 1,537 $ 1,393 $ 1,055\nNet income attributable to Jabil Inc. $ 818 $ 996 $ 696\nEarnings per share – basic $ 6.15 $ 7.06 $ 4.69\nEarnings per share – diluted $ 6.02 $ 6.90 $ 4.58\nAugust 31, 2023 (1)\nMay 31, 2023 August 31, 2022\nSales cycle (2)\n43 days 48 days 32 days\nInventory turns (annualized) (3)\n5 turns 4 turns 5 turns\nDays in accounts receivable (4)\n40 days 38 days 40 days\nDays in inventory (5)\n80 days 84 days 79 days\n(6)\nDays in accounts payable 77 days 74 days 87 days\nKey Performance Indicators\nManagement regularly reviews financial and non-financial performance indicators to assess the Company’s operating results. Changes in our operating assets\nand liabilities are largely affected by our working capital requirements, which are dependent on the effective management of our sales cycle as well as timing of\npayments. Our sales cycle measures how quickly we can convert our manufacturing services into cash through sales. We believe the metrics set forth below are\nuseful to investors in measuring our liquidity as future liquidity needs will depend on fluctuations in levels of inventory, accounts receivable and accounts\npayable.\nThe following table sets forth, for the quarterly periods indicated, certain of management’s key financial performance indicators:\nThree Months Ended\n(1)\n(2)\n(3)\n(4)\n(5)\n(6)\nThe calculation of these key performance indicators includes assets and liabilities held for sale for the three months ended August 31, 2023.\nThe sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the\nvariance in the sales cycle quarter over quarter is a direct result of changes in these indicators.\nInventory turns (annualized) are calculated as 360 days divided by days in inventory.\nDays in accounts receivable is calculated as accounts receivable, net, divided by net revenue multiplied by 90 days. During the three months ended\nAugust 31, 2023, the increase in days in accounts receivable from the prior sequential quarter was primarily due to an increase in accounts receivable,\nprimarily driven by timing of collections.\nDays in inventory is calculated as inventory and contract assets divided by cost of revenue multiplied by 90 days. During the three months ended\nAugust 31, 2023, the decrease in days in inventory from the prior sequential quarter was primarily driven by sales activity during the quarter resulting in\na higher consumption of inventory and improved working capital management.\nDays in accounts payable is calculated as accounts payable divided by cost of revenue multiplied by 90 days. During the three months ended August 31,\n2023, the decrease in days in accounts payable from the three months ended August 31, 2022 was primarily due to cash payments and timing of\npurchases during the quarter. During the three months ended August 31, 2023, the increase in days in accounts payable from the prior sequential quarter\nwas primarily due to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000261_segments",
      "report_id": "ID_000261",
      "company_name": "Jabil",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "EMS and DMS",
      "golden_context": "Page 80:\n\n% of total.\n(1)\nSales to this customer were reported in the DMS operating segment.\nThe Company procures components from a broad group of suppliers. Some of the products manufactured by the Company require one or more components that\nare available from only a single source.\nSegment Data\nOperating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses; for\nwhich separate financial information is available; and whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to\nassess the performance of the individual segment and make decisions about resources to be allocated to the segment.\nThe Company derives its revenue from providing comprehensive electronics design, production and product management services. The CODM evaluates\nperformance and allocates resources on a segment basis. The Company’s operating segments consist of two segments – EMS and DMS, which are also the\nCompany’s reportable segments. The segments are organized based on the economic profiles of the services performed, including manufacturing capabilities,\nmarket strategy, margins, return on capital and risk profiles.\nThe EMS segment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing the\nCompany’s large scale manufacturing infrastructure and the ability to serve a broad range of end markets. The EMS segment is a high volume business that\nproduces product at a quicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and\nretail, industrial and semi-capital equipment, and networking and storage industries.\nThe DMS segment is focused on providing engineering solutions, with an emphasis on material sciences, technologies and healthcare. The DMS segment\nincludes customers primarily in the automotive and transportation, connected devices, healthcare and packaging, and mobility industries.\nNet revenue for the operating segments is attributed to the segment in which the service is performed. An operating segment’s performance is evaluated based\non its pre-tax operating contribution, or segment income. Segment income is defined as net revenue less cost of revenue, segment selling, general and\nadministrative expenses, segment research and development expenses and an allocation of corporate manufacturing expenses and selling, general and\nadministrative expenses. Segment income does not include amortization of intangibles, stock-based compensation expense and related charges, restructuring,\nseverance and related charges, distressed customer charges, acquisition and integration charges, loss on disposal of subsidiaries, settlement of receivables and\nrelated charges, impairment of notes receivable and related charges, goodwill impairment charges, business interruption and impairment charges, net, loss on\ndebt extinguishment, (gain) loss on securities, income (loss) from discontinued operations, gain (loss) on sale of discontinued operations, other expense\n(excluding certain components of net periodic benefit cost), interest expense, net, income tax expense or adjustment for net income (loss) attributable to\nnoncontrolling interests.\nTotal segment assets are defined as accounts receivable, contract assets, inventories, net, customer-related property, plant and equipment, intangible assets net\nof accumulated amortization and goodwill. All other non-segment assets are reviewed on a global basis by management. Transactions between operating\nsegments are generally recorded at amounts that approximate those at which we would tran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_cash_flow",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating:   2'623m, \ninvesting:  -1'187m, \nfinancing:  -1'289m\n",
      "golden_context": "Page 102:\n\nLoews Corporation and Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31 2021 2020 2019\n(In millions)\nOperating Activities:\nNet income (loss) $ 1,703 $ (1,291) $ 871\nAdjustments to reconcile net income (loss) to net cash provided (used)\nby operating activities:\nInvestment (gains) losses (660) 1,246 (49)\nEquity method investees (74) 102 20\nAmortization of investments (81) (67) (89)\nDepreciation and amortization 515 734 943\nAsset impairments 10 810 99\nProvision for deferred income taxes 213 (235) 70\nOther non-cash items 71 61 87\nChanges in operating assets and liabilities, net:\nReceivables (1,409) (425) 114\nDeferred acquisition costs (30) (43) (26)\nInsurance reserves 2,463 1,681 358\nOther assets (946) (513) (356)\nOther liabilities 897 256 193\nTrading securities (49) (571) (494)\nNet cash flow provided by operating activities 2,623 1,745 1,741\nInvesting Activities:\nPurchases of fixed maturities (9,307) (10,269) (8,661)\nProceeds from sales of fixed maturities 3,816 5,904 5,842\nProceeds from maturities of fixed maturities 4,464 3,760 2,997\nPurchases of equity securities (304) (452) (186)\nProceeds from sales of equity securities 316 355 214\nPurchases of limited partnership investments (440) (224) (198)\nProceeds from sales of limited partnership investments 307 398 742\nPurchases of property, plant and equipment (482) (710) (1,041)\nAcquisitions (58) (257)\nDispositions 80 65 140\nSale of interest in Altium Packaging 417\nDeconsolidation of Diamond Offshore (483)\nChange in short term investments (141) 427 (57)\nOther, net 87 (127) (206)\nNet cash flow used by investing activities $ (1,187) $ (1,414) $ (671)\n86\nLoews Corporation and Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31 2021 2020 2019\n(In millions)\nFinancing Activities:\nDividends paid $ (65) $ (70) $ (76)\nDividends paid to noncontrolling interests (64) (99) (98)\nPurchases of Loews Corporation treasury stock (1,136) (923) (1,051)\nPurchases of subsidiary stock from noncontrolling interests (18) (37) (23)\nPrincipal payments on debt (1,193) (1,726) (1,956)\nIssuance of debt 1,199 2,659 2,076\nOther, net (12) (2) (16)\nNet cash flow used by financing activities (1,289) (198) (1,144)\nEffect of foreign exchange rate on cash (4) 9 5\nNet change in cash 143 142 (69)\nCash, beginning of year 478 336 405\nCash, end of year See Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_company_type",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition Period From ____________ to _____________\nCommission File Number 1-06541\nLOEWS CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 13-2646102\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n667 Madison Avenue, New York, NY 10065-8087\n(Address of principal executive offices) (Zip Code)\n(212) 521-2000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon stock, par value $0.01 per share L New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days.\nYes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_key_financials",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 14657m, income before income tax 2182m, net income 1703m, diluted net income per share 6.07",
      "golden_context": "Page 2:\n\nFinancial Highlights\nYear Ended December 31 ($ in millions, except per share data)\nResults of Operations\n2021\n2020\n2019\n2018\n2017(a)\nRevenues\n$\n14,657\n$\n12,583\n$\n14,931\n$\n14,066\n$\n13,735\nIncome (loss) before income tax\n$\n2,182\n$\n(1,464)\n$\n1,119\n$\n834\n$\n1,582\nNet income (loss)\n$\n1,703\n$\n(1,291)\n$\n871\n$\n706\n$\n1,412\nAmounts attributable to noncontrolling interests\n$\n(125)\n$\n360\n$\n61\n$\n(70)\n$\n(248)\nNet income (loss) attributable to Loews Corporation\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n1,164\nDiluted net income (loss) per share\n$\n6.07\n$\n(3.32)\n$\n3.07\n$\n1.99\n$\n3.45\nFinancial Position\n2021\n2020\n2019\n2018\n2017(a)\nInvestments\n$ 53,938\n$ 53,844\n$ 51,250\n$ 48,186\n$\n52,226\nTotal assets\n81,626\n80,236\n82,243\n78,316\n79,586\nDebt: Parent Company\n2,278\n2,276\n1,779\n1,778\n1,776\nDebt: Subsidiaries\n6,801\n7,833\n9,754\n9,598\n9,757\nShareholders’ equity\n17,846\n17,860\n19,119\n18,518\n19,204\nCash dividends per share\n0.25\n0.25\n0.25\n0.25\n0.25\nBook value per share\n71.84\n66.34\n65.71\n59.34\n57.83\nShares outstanding\n248.42\n269.21\n290.97\n312.07\n332.09\nResults of Operations\nConsolidated net income attributable to Loews Corporation for 2021 was $1.6 billion,\nor $6.07 per share compared to a net loss of $931 million, or $3.32 per share, in 2020.\nNet income for 2021 includes an investment gain of $555 million ($438\nmillion after tax) related to the sale of 47% of Altium Packaging and its\ndeconsolidation. The net loss for 2020 includes an investment loss of $1.2\nbillion ($957 million after tax) as a result of Diamond Offshore’s bankruptcy\nfiling and deconsolidation and an operating loss of $934 million ($476 million\nafter tax and noncontrolling interests) for Diamond Offshore. Excluding these,\nnet income was $1.1 billion and $502 million in 2021 and 2020.\nAll consolidated subsidiaries contributed to the year-over-year increase in\nnet income. CNA’s core Property & Casualty business experienced record\nhigh results as their underlying combined ratio, which excludes catastrophes\nand prior year development, was a record low of 91.4% in 2021, improving\n1.7 points year-over-year due to increased premiums. Loews Hotels results\nhave been adversely impacted by the COVID-19 pandemic. In 2021 leisure\ntravel rebounded, especially at resort destinations, and Loews Hotels posted\nsignificantly improved results. Boardwalk Pipelines’ net operating revenues\nincreased 3% due to growth projects recently placed into service.\nIn addition, 2021 benefited from higher net investment income at the parent\ncompany and net investment gains at CNA in 2021 as compared to net\ninvestment losses in 2020.\nCNA’s earnings increased in 2021 primarily due to higher Property &\nCasualty underlying underwriting income, lower net catastrophe losses,\nhigher net investment income and net investment gains as compared to\nlosses in 2020. Life & Group business results benefited from the reduction\nin long term care claims reserves resulting from the 2021 annual claim\nreserves review and the absence of the long term care active life premium\ndeficiency charge recorded in 2020. The improvement in net investment\nincome in 2021 was driven by higher returns on limited partnership and\ncommon stock investments. Net investment gains in 2021 were driven by\nlower impairment losses on fixed income securities.\nBoardwalk Pipelines’ earnings improved as net operating revenues increased\ndue to growth projects recently placed into service. Operating expenses,\nincluding depreciation and amortization, rose primarily due to an increase\nin maintenance project costs and an increased asset base from recently\ncompleted growth projects, partially offset by a reduction in interest expense\ndue to lower interest rates and lower average outstanding debt balances.\nLoews Hotels had temporarily suspended operations at most hotel properties\nby April 2020. These hotel properties gradually resumed operations at various\ntimes, culminating with all hotels having resumed operations by June 30, 2021.\nThrough 2021, occupancy levels have gradually increased, leading to improved\nrevenues at all hotel properties, particularly those in resort areas. Although\nresults were significantly better in 2021 compared to 2020, occupancy levels\nhave not reached pre-pandemic levels at many Loews Hotels properties.\nIncome from the parent compa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_revenue",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "14'657m",
      "golden_context": "Page 2:\n\nFinancial Highlights\nYear Ended December 31 ($ in millions, except per share data)\nResults of Operations\n2021\n2020\n2019\n2018\n2017(a)\nRevenues\n$\n14,657\n$\n12,583\n$\n14,931\n$\n14,066\n$\n13,735\nIncome (loss) before income tax\n$\n2,182\n$\n(1,464)\n$\n1,119\n$\n834\n$\n1,582\nNet income (loss)\n$\n1,703\n$\n(1,291)\n$\n871\n$\n706\n$\n1,412\nAmounts attributable to noncontrolling interests\n$\n(125)\n$\n360\n$\n61\n$\n(70)\n$\n(248)\nNet income (loss) attributable to Loews Corporation\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n1,164\nDiluted net income (loss) per share\n$\n6.07\n$\n(3.32)\n$\n3.07\n$\n1.99\n$\n3.45\nFinancial Position\n2021\n2020\n2019\n2018\n2017(a)\nInvestments\n$ 53,938\n$ 53,844\n$ 51,250\n$ 48,186\n$\n52,226\nTotal assets\n81,626\n80,236\n82,243\n78,316\n79,586\nDebt: Parent Company\n2,278\n2,276\n1,779\n1,778\n1,776\nDebt: Subsidiaries\n6,801\n7,833\n9,754\n9,598\n9,757\nShareholders’ equity\n17,846\n17,860\n19,119\n18,518\n19,204\nCash dividends per share\n0.25\n0.25\n0.25\n0.25\n0.25\nBook value per share\n71.84\n66.34\n65.71\n59.34\n57.83\nShares outstanding\n248.42\n269.21\n290.97\n312.07\n332.09\nResults of Operations\nConsolidated net income attributable to Loews Corporation for 2021 was $1.6 billion,\nor $6.07 per share compared to a net loss of $931 million, or $3.32 per share, in 2020.\nNet income for 2021 includes an investment gain of $555 million ($438\nmillion after tax) related to the sale of 47% of Altium Packaging and its\ndeconsolidation. The net loss for 2020 includes an investment loss of $1.2\nbillion ($957 million after tax) as a result of Diamond Offshore’s bankruptcy\nfiling and deconsolidation and an operating loss of $934 million ($476 million\nafter tax and noncontrolling interests) for Diamond Offshore. Excluding these,\nnet income was $1.1 billion and $502 million in 2021 and 2020.\nAll consolidated subsidiaries contributed to the year-over-year increase in\nnet income. CNA’s core Property & Casualty business experienced record\nhigh results as their underlying combined ratio, which excludes catastrophes\nand prior year development, was a record low of 91.4% in 2021, improving\n1.7 points year-over-year due to increased premiums. Loews Hotels results\nhave been adversely impacted by the COVID-19 pandemic. In 2021 leisure\ntravel rebounded, especially at resort destinations, and Loews Hotels posted\nsignificantly improved results. Boardwalk Pipelines’ net operating revenues\nincreased 3% due to growth projects recently placed into service.\nIn addition, 2021 benefited from higher net investment income at the parent\ncompany and net investment gains at CNA in 2021 as compared to net\ninvestment losses in 2020.\nCNA’s earnings increased in 2021 primarily due to higher Property &\nCasualty underlying underwriting income, lower net catastrophe losses,\nhigher net investment income and net investment gains as compared to\nlosses in 2020. Life & Group business results benefited from the reduction\nin long term care claims reserves resulting from the 2021 annual claim\nreserves review and the absence of the long term care active life premium\ndeficiency charge recorded in 2020. The improvement in net investment\nincome in 2021 was driven by higher returns on limited partnership and\ncommon stock investments. Net investment gains in 2021 were driven by\nlower impairment losses on fixed income securities.\nBoardwalk Pipelines’ earnings improved as net operating revenues increased\ndue to growth projects recently placed into service. Operating expenses,\nincluding depreciation and amortization, rose primarily due to an increase\nin maintenance project costs and an increased asset base from recently\ncompleted growth projects, partially offset by a reduction in interest expense\ndue to lower interest rates and lower average outstanding debt balances.\nLoews Hotels had temporarily suspended operations at most hotel properties\nby April 2020. These hotel properties gradually resumed operations at various\ntimes, culminating with all hotels having resumed operations by June 30, 2021.\nThrough 2021, occupancy levels have gradually increased, leading to improved\nrevenues at all hotel properties, particularly those in resort areas. Although\nresults were significantly better in 2021 compared to 2020, occupancy levels\nhave not reached pre-pandemic levels at many Loews Hotels properties.\nIncome from the parent compa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_revenue_growth",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "current revenues 14657m, prior year 12583m",
      "golden_context": "Page 2:\n\nFinancial Highlights\nYear Ended December 31 ($ in millions, except per share data)\nResults of Operations\n2021\n2020\n2019\n2018\n2017(a)\nRevenues\n$\n14,657\n$\n12,583\n$\n14,931\n$\n14,066\n$\n13,735\nIncome (loss) before income tax\n$\n2,182\n$\n(1,464)\n$\n1,119\n$\n834\n$\n1,582\nNet income (loss)\n$\n1,703\n$\n(1,291)\n$\n871\n$\n706\n$\n1,412\nAmounts attributable to noncontrolling interests\n$\n(125)\n$\n360\n$\n61\n$\n(70)\n$\n(248)\nNet income (loss) attributable to Loews Corporation\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n1,164\nDiluted net income (loss) per share\n$\n6.07\n$\n(3.32)\n$\n3.07\n$\n1.99\n$\n3.45\nFinancial Position\n2021\n2020\n2019\n2018\n2017(a)\nInvestments\n$ 53,938\n$ 53,844\n$ 51,250\n$ 48,186\n$\n52,226\nTotal assets\n81,626\n80,236\n82,243\n78,316\n79,586\nDebt: Parent Company\n2,278\n2,276\n1,779\n1,778\n1,776\nDebt: Subsidiaries\n6,801\n7,833\n9,754\n9,598\n9,757\nShareholders’ equity\n17,846\n17,860\n19,119\n18,518\n19,204\nCash dividends per share\n0.25\n0.25\n0.25\n0.25\n0.25\nBook value per share\n71.84\n66.34\n65.71\n59.34\n57.83\nShares outstanding\n248.42\n269.21\n290.97\n312.07\n332.09\nResults of Operations\nConsolidated net income attributable to Loews Corporation for 2021 was $1.6 billion,\nor $6.07 per share compared to a net loss of $931 million, or $3.32 per share, in 2020.\nNet income for 2021 includes an investment gain of $555 million ($438\nmillion after tax) related to the sale of 47% of Altium Packaging and its\ndeconsolidation. The net loss for 2020 includes an investment loss of $1.2\nbillion ($957 million after tax) as a result of Diamond Offshore’s bankruptcy\nfiling and deconsolidation and an operating loss of $934 million ($476 million\nafter tax and noncontrolling interests) for Diamond Offshore. Excluding these,\nnet income was $1.1 billion and $502 million in 2021 and 2020.\nAll consolidated subsidiaries contributed to the year-over-year increase in\nnet income. CNA’s core Property & Casualty business experienced record\nhigh results as their underlying combined ratio, which excludes catastrophes\nand prior year development, was a record low of 91.4% in 2021, improving\n1.7 points year-over-year due to increased premiums. Loews Hotels results\nhave been adversely impacted by the COVID-19 pandemic. In 2021 leisure\ntravel rebounded, especially at resort destinations, and Loews Hotels posted\nsignificantly improved results. Boardwalk Pipelines’ net operating revenues\nincreased 3% due to growth projects recently placed into service.\nIn addition, 2021 benefited from higher net investment income at the parent\ncompany and net investment gains at CNA in 2021 as compared to net\ninvestment losses in 2020.\nCNA’s earnings increased in 2021 primarily due to higher Property &\nCasualty underlying underwriting income, lower net catastrophe losses,\nhigher net investment income and net investment gains as compared to\nlosses in 2020. Life & Group business results benefited from the reduction\nin long term care claims reserves resulting from the 2021 annual claim\nreserves review and the absence of the long term care active life premium\ndeficiency charge recorded in 2020. The improvement in net investment\nincome in 2021 was driven by higher returns on limited partnership and\ncommon stock investments. Net investment gains in 2021 were driven by\nlower impairment losses on fixed income securities.\nBoardwalk Pipelines’ earnings improved as net operating revenues increased\ndue to growth projects recently placed into service. Operating expenses,\nincluding depreciation and amortization, rose primarily due to an increase\nin maintenance project costs and an increased asset base from recently\ncompleted growth projects, partially offset by a reduction in interest expense\ndue to lower interest rates and lower average outstanding debt balances.\nLoews Hotels had temporarily suspended operations at most hotel properties\nby April 2020. These hotel properties gradually resumed operations at various\ntimes, culminating with all hotels having resumed operations by June 30, 2021.\nThrough 2021, occupancy levels have gradually increased, leading to improved\nrevenues at all hotel properties, particularly those in resort areas. Although\nresults were significantly better in 2021 compared to 2020, occupancy levels\nhave not reached pre-pandemic levels at many Loews Hotels properties.\nIncome from the parent compa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000262_segments",
      "report_id": "ID_000262",
      "company_name": "Loews",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Specialty Segment, Commerical Segment, International Segment",
      "golden_context": "Page 10:\n\nding insurance solutions informed by the experience\nof its underwriters, industry-focused risk advisory services, and\nexpert claims management.\nCNA’s business is focused on three core operating segments.\nThe Specialty Segment provides management and professional\nliability and other coverages through a network of brokers,\nindependent agencies and managing general underwriters.\nThe Commercial Segment works with a network of brokers\nand independent agents to market a broad range of property\nand casualty insurance products to all types of insureds,\ntargeting small business, construction, middle market and other\ncommercial customers. The International Segment underwrites\nproperty and casualty coverages on a global basis through a\nnetwork of branches in Canada, a European business consisting\nof insurance companies based in the U.K. and Luxembourg, and\nHardy, CNA’s Lloyd’s Syndicate.\nBuilding a “top quartile underwriting company” is a key goal of\nCNA management. Toward that end, the company has fostered\na deep underwriting culture through continuous training,\nperformance management and governance. To optimize\nengagement across its distribution network, the company\nforges strong relationships with its distribution partners\nbased on product expertise and industry specialization. CNA\nreinforces its reputation for deep specialization by providing\ninsurance solutions supported by value chains of technical\nexpertise aligned around industry segments, products and\nexposures. Finally, the company recognizes the importance of\nattracting, developing and retaining top talent, investing in its\npeople to encourage personal and professional growth and\nimproving performance.\nThe market environment for P&C insurers is expected to remain\nfavorable in the coming year, characterized by a continued\nimprovement in premium rates. CNA has made solid progress\nin delivering a record ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_cash_flow",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 3314m, investing: -2347m, financing: -1037m, net change in cash: -89",
      "golden_context": "Page 104:\n\nLoews Corporation and Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31 2022 2021 2020\n(In millions)\nOperating Activities:\nNet income (loss) $ 1,103 $ 1,703 $ (1,291)\nAdjustments to reconcile net income (loss) to net cash provided (used)\nby operating activities:\nInvestment (gains) losses 199 (660) 1,246\nEquity method investees 236 (74) 102\nAmortization of investments (129) (81) (67)\nDepreciation and amortization 509 515 734\nAsset impairments 33 10 810\nProvision for deferred income taxes 5 213 (235)\nOther non-cash items 57 71 61\nChanges in operating assets and liabilities, net:\nReceivables (316) (1,409) (425)\nDeferred acquisition costs (79) (30) (43)\nInsurance reserves 1,791 2,463 1,681\nOther assets (391) (946) (513)\nOther liabilities 137 897 256\nTrading securities 159 (49) (571)\nNet cash flow provided by operating activities 3,314 2,623 1,745\nInvesting Activities:\nPurchases of fixed maturities (9,821) (9,307) (10,269)\nProceeds from sales of fixed maturities 5,909 3,816 5,904\nProceeds from maturities of fixed maturities 2,358 4,464 3,760\nPurchases of equity securities (294) (304) (452)\nProceeds from sales of equity securities 509 316 355\nPurchases of limited partnership investments (337) (440) (224)\nProceeds from sales of limited partnership investments 171 307 398\nPurchases of property, plant and equipment (660) (482) (710)\nAcquisitions (58)\nDispositions 16 80 65\n(Investment in) sale of interest in Altium Packaging (79) 417\nDeconsolidation of Diamond Offshore (483)\nChange in short term investments (27) (141) 427\nOther, net (92) 87 (127)\nNet cash flow used by investing activities $ (2,347) $ (1,187) $ (1,414)\n88\nTable of Contents\nYear Ended December 31 Loews Corporation and Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n2022 2021 2020\n(In millions)\nFinancing Activities:\nDividends paid $ (61) $ (65) $ (70)\nDividends paid to noncontrolling interests (98) (64) (99)\nPurchases of Loews Corporation treasury stock (729) (1,136) (923)\nPurchases of subsidiary stock from noncontrolling interests (66) (18) (37)\nPrincipal payments on debt (640) (1,193) (1,726)\nIssuance of debt 573 1,199 2,659\nOther, net (16) (12) Net cash flow used by financing activities (1,037) (1,289) (198)\nEffect of foreign exchange rate on cash (19) (4) Net change in cash (89) 143 142\nCash, beginning of year 621 478 336\nCash, end of year $ 532 $ 621 $ 478\n(2)\n9\nSee Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_company_type",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition Period From ____________ to _____________\nCommission File Number 1-06541\nLOEWS CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 13-2646102\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n667 Madison Avenue, New York, NY 10065-8087\n(Address of principal executive offices) (Zip Code)\n(212) 521-2000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon stock, par value $0.01 per share L New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nYes ☒ No ☐\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued\nits audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the\nfiling reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received\nby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of common stock held by non-affiliates of the registrant as of June 30, 2022, the last business day of the registrant’s most\nrecently completed second fiscal quarter, was approximately $11,809,000,000.\nAs of February 3, 2023, there were 234,997,673 shares of the registrant’s common stock outstanding.\nDocuments Incorporated by Reference:\nPortions of the registrant’s definitive proxy statement for the 2023 annual meeting of shareholders, intended to be filed by the registrant w",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_key_financials",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 14044m, income before income tax 1381m, net income 1103m, diluted net income per share 4.16",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\nRESULTS OF OPERATIONS\n$ in millions, except per share data Year ended December 31\nRevenues\nIncome (loss) before income tax\nNet income (loss)\nAmounts attributable to noncontrolling interests\nNet income (loss) attributable to Loews Corporation\nDiluted net income (loss) per share\nFINANCIAL POSITION\nInvestments\nTotal assets\nDebt: Parent Company\nDebt: Subsidiaries\nShareholders’ equity\nCash dividends per share\nBook value per share\nShares outstanding\nRESULTS OF OPERATIONS\nConsolidated net income attributable to Loews Corporation\n(NYSE:L) for 2022 was $1.0 billion, or $4.16 per share compared to\n$1.6 billion, or $6.07 per share, in 2021.\nPlease note that net income for 2021 included an investment gain\nof $555 million ($438 million after tax) related to the sale of 47%\nof Altium Packaging and its deconsolidation. Excluding this gain, net\nincome was $1.1 billion in 2021.\nThe strong operating performance of our consolidated subsidiaries in\n2022 was offset by lower investment income at CNA and the parent\ncompany. CNA’s core property & casualty business experienced\nrecord high results as their underlying combined ratio, which excludes\ncatastrophes and prior year development, was at a record low of\n91.2% in 2022. The all-in combined ratio improved 3 points to 93.2%,\nalso a record low, due to increased premiums and lower catastrophe\nlosses. Loews Hotels & Co’s results substantially improved in 2022\nas travel rebounded from the effects of the COVID-19 pandemic.\nBoardwalk Pipelines also contributed positively to Loews’s results as\nnet income and EBITDA improved year-over-year.\nCNA’s earnings decreased in 2022, primarily due to lower\nnet investment income and investment losses compared to\ninvestment gains in 2021. Lower net investment income was\ndriven by unfavorable limited partnership and common stock\nresults, and investment losses were driven by net losses on fixed-\nincome securities and the unfavorable change in fair value of\nnon-redeemable preferred stock. These decreases were partially\noffset by improved underwriting results and higher net investment\nincome from fixed-income securities.\n2022\n2021\n2020\n2019\n2018\n$\n$\n$\n$\n14,044\n1,381\n1,103\n(91)\n$\n$\n$\n$\n14,657\n2,182\n1,703\n(125)\n$\n$\n$\n$\n12,583\n(1,464)\n(1,291)\n360\n$\n$\n$\n$\n14,931\n1,119\n871\n61\n$\n$\n$\n$\n14,066\n834\n706\n(70)\n$\n1,012\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n4.16\n2022\n$\n6.07\n2021\n$\n(3.32)\n2020\n$\n3.07\n2019\n$\n1.99\n2018\n$\n46,768\n75,494\n2,280\n6,739\n14,598\n0.25\n61.86\n235.96\n$\n53,938\n81,626\n2,278\n6,801\n17,846\n0.25\n71.84\n248.42\n$\n53,844\n80,236\n2,276\n7,833\n17,860\n0.25\n66.34\n269.21\n$\n51,250\n82,243\n1,779\n9,754\n19,119\n0.25\n65.71\n290.97\n$\n48,186\n78,316\n1,778\n9,598\n18,518\n0.25\n59.34\n312.07\nBoardwalk Pipelines reported higher earnings as net operating\nrevenues increased due to growth projects recently placed in\nservice, re-contracting at higher rates, and higher utilization-\nbased revenues. Operating expenses, including depreciation and\namortization, rose primarily due to an increase in maintenance\nprojects associated with regulatory requirements, a change in the\nuseful lives of certain assets, and an increased asset base from\nrecently completed growth projects.\nLoews Hotels & Co’s improved results in 2022 were primarily due\nto considerably higher overall occupancy rates and increased overall\naverage daily room rates. Operating expenses also increased, largely\ndue to the higher staffing levels needed to support the uptick in\nbusiness. Additionally, all 9,000 rooms at Universal Orlando Resorts\nwere available for the full year in 2022, whereas certain rooms were\nnot available during a portion of 2021.\nParent company investment results decreased in 2022 primarily\ndue to the decline in fair value of equity securities, partially offset by\nimproved results from short-term investments.\nAt December 31, 2022, excluding accumulated other comprehensive\nincome, the book value per share of Loews common stock was\n$75.78 as compared to $71.09 at December 31, 2021.\nAt December 31, 2022, there were 236.0 million shares of\nLoews common stock outstanding. In 2022, the company\npurchased 12.7 million shares of its common stock at an\naggregate cost of $738 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_revenue",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "14044m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\nRESULTS OF OPERATIONS\n$ in millions, except per share data Year ended December 31\nRevenues\nIncome (loss) before income tax\nNet income (loss)\nAmounts attributable to noncontrolling interests\nNet income (loss) attributable to Loews Corporation\nDiluted net income (loss) per share\nFINANCIAL POSITION\nInvestments\nTotal assets\nDebt: Parent Company\nDebt: Subsidiaries\nShareholders’ equity\nCash dividends per share\nBook value per share\nShares outstanding\nRESULTS OF OPERATIONS\nConsolidated net income attributable to Loews Corporation\n(NYSE:L) for 2022 was $1.0 billion, or $4.16 per share compared to\n$1.6 billion, or $6.07 per share, in 2021.\nPlease note that net income for 2021 included an investment gain\nof $555 million ($438 million after tax) related to the sale of 47%\nof Altium Packaging and its deconsolidation. Excluding this gain, net\nincome was $1.1 billion in 2021.\nThe strong operating performance of our consolidated subsidiaries in\n2022 was offset by lower investment income at CNA and the parent\ncompany. CNA’s core property & casualty business experienced\nrecord high results as their underlying combined ratio, which excludes\ncatastrophes and prior year development, was at a record low of\n91.2% in 2022. The all-in combined ratio improved 3 points to 93.2%,\nalso a record low, due to increased premiums and lower catastrophe\nlosses. Loews Hotels & Co’s results substantially improved in 2022\nas travel rebounded from the effects of the COVID-19 pandemic.\nBoardwalk Pipelines also contributed positively to Loews’s results as\nnet income and EBITDA improved year-over-year.\nCNA’s earnings decreased in 2022, primarily due to lower\nnet investment income and investment losses compared to\ninvestment gains in 2021. Lower net investment income was\ndriven by unfavorable limited partnership and common stock\nresults, and investment losses were driven by net losses on fixed-\nincome securities and the unfavorable change in fair value of\nnon-redeemable preferred stock. These decreases were partially\noffset by improved underwriting results and higher net investment\nincome from fixed-income securities.\n2022\n2021\n2020\n2019\n2018\n$\n$\n$\n$\n14,044\n1,381\n1,103\n(91)\n$\n$\n$\n$\n14,657\n2,182\n1,703\n(125)\n$\n$\n$\n$\n12,583\n(1,464)\n(1,291)\n360\n$\n$\n$\n$\n14,931\n1,119\n871\n61\n$\n$\n$\n$\n14,066\n834\n706\n(70)\n$\n1,012\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n4.16\n2022\n$\n6.07\n2021\n$\n(3.32)\n2020\n$\n3.07\n2019\n$\n1.99\n2018\n$\n46,768\n75,494\n2,280\n6,739\n14,598\n0.25\n61.86\n235.96\n$\n53,938\n81,626\n2,278\n6,801\n17,846\n0.25\n71.84\n248.42\n$\n53,844\n80,236\n2,276\n7,833\n17,860\n0.25\n66.34\n269.21\n$\n51,250\n82,243\n1,779\n9,754\n19,119\n0.25\n65.71\n290.97\n$\n48,186\n78,316\n1,778\n9,598\n18,518\n0.25\n59.34\n312.07\nBoardwalk Pipelines reported higher earnings as net operating\nrevenues increased due to growth projects recently placed in\nservice, re-contracting at higher rates, and higher utilization-\nbased revenues. Operating expenses, including depreciation and\namortization, rose primarily due to an increase in maintenance\nprojects associated with regulatory requirements, a change in the\nuseful lives of certain assets, and an increased asset base from\nrecently completed growth projects.\nLoews Hotels & Co’s improved results in 2022 were primarily due\nto considerably higher overall occupancy rates and increased overall\naverage daily room rates. Operating expenses also increased, largely\ndue to the higher staffing levels needed to support the uptick in\nbusiness. Additionally, all 9,000 rooms at Universal Orlando Resorts\nwere available for the full year in 2022, whereas certain rooms were\nnot available during a portion of 2021.\nParent company investment results decreased in 2022 primarily\ndue to the decline in fair value of equity securities, partially offset by\nimproved results from short-term investments.\nAt December 31, 2022, excluding accumulated other comprehensive\nincome, the book value per share of Loews common stock was\n$75.78 as compared to $71.09 at December 31, 2021.\nAt December 31, 2022, there were 236.0 million shares of\nLoews common stock outstanding. In 2022, the company\npurchased 12.7 million shares of its common stock at an\naggregate cost of $738 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_revenue_growth",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "14044m, prior year 14657m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\nRESULTS OF OPERATIONS\n$ in millions, except per share data Year ended December 31\nRevenues\nIncome (loss) before income tax\nNet income (loss)\nAmounts attributable to noncontrolling interests\nNet income (loss) attributable to Loews Corporation\nDiluted net income (loss) per share\nFINANCIAL POSITION\nInvestments\nTotal assets\nDebt: Parent Company\nDebt: Subsidiaries\nShareholders’ equity\nCash dividends per share\nBook value per share\nShares outstanding\nRESULTS OF OPERATIONS\nConsolidated net income attributable to Loews Corporation\n(NYSE:L) for 2022 was $1.0 billion, or $4.16 per share compared to\n$1.6 billion, or $6.07 per share, in 2021.\nPlease note that net income for 2021 included an investment gain\nof $555 million ($438 million after tax) related to the sale of 47%\nof Altium Packaging and its deconsolidation. Excluding this gain, net\nincome was $1.1 billion in 2021.\nThe strong operating performance of our consolidated subsidiaries in\n2022 was offset by lower investment income at CNA and the parent\ncompany. CNA’s core property & casualty business experienced\nrecord high results as their underlying combined ratio, which excludes\ncatastrophes and prior year development, was at a record low of\n91.2% in 2022. The all-in combined ratio improved 3 points to 93.2%,\nalso a record low, due to increased premiums and lower catastrophe\nlosses. Loews Hotels & Co’s results substantially improved in 2022\nas travel rebounded from the effects of the COVID-19 pandemic.\nBoardwalk Pipelines also contributed positively to Loews’s results as\nnet income and EBITDA improved year-over-year.\nCNA’s earnings decreased in 2022, primarily due to lower\nnet investment income and investment losses compared to\ninvestment gains in 2021. Lower net investment income was\ndriven by unfavorable limited partnership and common stock\nresults, and investment losses were driven by net losses on fixed-\nincome securities and the unfavorable change in fair value of\nnon-redeemable preferred stock. These decreases were partially\noffset by improved underwriting results and higher net investment\nincome from fixed-income securities.\n2022\n2021\n2020\n2019\n2018\n$\n$\n$\n$\n14,044\n1,381\n1,103\n(91)\n$\n$\n$\n$\n14,657\n2,182\n1,703\n(125)\n$\n$\n$\n$\n12,583\n(1,464)\n(1,291)\n360\n$\n$\n$\n$\n14,931\n1,119\n871\n61\n$\n$\n$\n$\n14,066\n834\n706\n(70)\n$\n1,012\n$\n1,578\n$\n(931)\n$\n932\n$\n636\n$\n4.16\n2022\n$\n6.07\n2021\n$\n(3.32)\n2020\n$\n3.07\n2019\n$\n1.99\n2018\n$\n46,768\n75,494\n2,280\n6,739\n14,598\n0.25\n61.86\n235.96\n$\n53,938\n81,626\n2,278\n6,801\n17,846\n0.25\n71.84\n248.42\n$\n53,844\n80,236\n2,276\n7,833\n17,860\n0.25\n66.34\n269.21\n$\n51,250\n82,243\n1,779\n9,754\n19,119\n0.25\n65.71\n290.97\n$\n48,186\n78,316\n1,778\n9,598\n18,518\n0.25\n59.34\n312.07\nBoardwalk Pipelines reported higher earnings as net operating\nrevenues increased due to growth projects recently placed in\nservice, re-contracting at higher rates, and higher utilization-\nbased revenues. Operating expenses, including depreciation and\namortization, rose primarily due to an increase in maintenance\nprojects associated with regulatory requirements, a change in the\nuseful lives of certain assets, and an increased asset base from\nrecently completed growth projects.\nLoews Hotels & Co’s improved results in 2022 were primarily due\nto considerably higher overall occupancy rates and increased overall\naverage daily room rates. Operating expenses also increased, largely\ndue to the higher staffing levels needed to support the uptick in\nbusiness. Additionally, all 9,000 rooms at Universal Orlando Resorts\nwere available for the full year in 2022, whereas certain rooms were\nnot available during a portion of 2021.\nParent company investment results decreased in 2022 primarily\ndue to the decline in fair value of equity securities, partially offset by\nimproved results from short-term investments.\nAt December 31, 2022, excluding accumulated other comprehensive\nincome, the book value per share of Loews common stock was\n$75.78 as compared to $71.09 at December 31, 2021.\nAt December 31, 2022, there were 236.0 million shares of\nLoews common stock outstanding. In 2022, the company\npurchased 12.7 million shares of its common stock at an\naggregate cost of $738 million.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000263_segments",
      "report_id": "ID_000263",
      "company_name": "Loews",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Specialty Segment, Commerical Segment, International Segment",
      "golden_context": "Page 10:\n\nhe company is distinguished by its deep underwriting\nculture; close alignment with distribution partners; first-\nrate talent; and insurance solutions informed by value\nchains of technical expertise aligned around industry\nsegments, products and exposures.\nThree core operating segments form the pillars of CNA’s\nbusiness. The Specialty Segment provides management\nand professional liability and other coverages through a\nnetwork of brokers, independent agencies and managing\ngeneral underwriters. The Commercial Segment works\nwith a network of brokers and independent agents to\nmarket a broad range of property and casualty insurance\nproducts to all types of insureds, targeting small business,\nconstruction, middle markets and other commercial\ncustomers. The International Segment underwrites\nproperty and casualty coverages on a global basis through\na European business consisting of insurance companies\nbased in the U.K. and Luxembourg, a branch operation in\nCanada, and Hardy, CNA’s Lloyd’s Syndicate.\nUnder its current leadership team, CNA has focused\non the goal of growing P&C underwriting profits on\na sustained basis. The company is fostering a deep\nunderwriting culture through training and performance\nmanagement, optimizing engagement with its distribution\npartners, reinforcing its reputation for deep specialization,\nand continuing to attract, develop and retain top talent.\nCNA’s ongoing drive to enhance customer service and\nshareholder value encompasses initiatives to strengthen\n8\n2022 ANNUAL REPORT\nstrategic partnerships; maintain underwriting excellence\nthrough strong governance and a focus on business unit\nprofitability; attract and cultivate experienced talent in its\nareas of specialization while promoting diversity, equity\nand inclusion; and invest in technologies to advance risk\nassessment capabilities, employ data to inform better\ndecision-making, and improve operating efficiency with\nartificial intelligence and machine-learning solutions.\n90%\nOwned\n$11,879\nRevenue\n6,100\nEmployees\n$43,177\nInvested Assets\nCommercial Property &\nCasualty Insurance\nIndustry\nYear ended Decembe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_cash_flow",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Net cash operating activities 1222m, investing: -729m, financing: -191m",
      "golden_context": "Page 58:\n\nCash Flows\nIntra-month cash flow cycles vary by region, but in general we are users of cash through the first half of a typical month\nand we generate cash during the latter half of a typical month. Due to this cycle of cash flows, we may utilize short-term\nfinancing, including our Revolving Credit Facility and European accounts receivable factoring facility, to manage our intra-\nmonth working capital needs. Our cash balance typically peaks at month end.\nWe utilize a combination of strategies, including dividends, cash pooling arrangements, intercompany loan structures and\nother distributions and advances to provide the funds necessary to meet our global liquidity needs. We utilize a global cash\npooling arrangement to consolidate and manage our global cash balances, which enables us to efficiently move cash into and\nout of a number of the countries in which we operate.\nOperating activities—Net cash provided by operating activities totaled $1,222 million and $1,413 million for the years\nended December 31, 2021 and 2020, respectively. Cash flow provided by operating activities for the year ended December 31,\n2021 consisted primarily of net earnings of $609 million, increased by $938 million for non-cash charges for depreciation,\namortization, pension costs and extinguishment of debt, partially offset by $567 million related to changes in operating assets\nand liabilities, net of restructuring and pension contributions. Cash flows provided by operating activities for the year ended\nDecember 31, 2020 consisted primarily of net earnings of $1,822 million, increased by $802 million for non-cash charges for\ndepreciation, amortization and pension costs, partially offset by $1,434 million for the non-cash gain resulting from the\nformation of the Motional autonomous driving joint venture and $107 million related to changes in operating assets and\nliabilities, net of restructuring and pension contributions.\nInvesting activities—Net cash used in investing activities totaled $729 million and $626 million for the years ended\nDecember 31, 2021 and 2020, respectively. The increase in usage is primarily attributable to $132 million paid for business\nacquisitions and technology investments, as compared to $51 million during the year ended December 31, 2020. Additionally,\ncapital expenditures increased $27 million during the year ended December 31, 2021 as compared to the year ended\nDecember 31, 2020.\nFinancing activities—Net cash used in financing activities totaled $191 million for the year ended December 31, 2021\nand net cash provided by financing activities totaled $1,613 million for the year ended December 31, 2020. Cash flows used in\nfinancing activities for the year ended December 31, 2021 primarily included net proceeds of $1,450 million received from the\nissuance of the 2021 Senior Notes, which were utilized to redeem the $700 million 2014 Senior Notes and $650 million 4.25%\nSenior Notes, partially offset by $63 million of MCPS dividend payments. Cash flows provided by financing activities for the\nyear ended December 31, 2020 primarily included $1,115 million and $1,115 million in net proceeds from the public offering\nof ordinary and preferred shares, net of issuance costs, respectively, partially offset by $372 million in repayments under other\nshort-term debt agreements, $88 million of dividend payments and $57 million paid to repurchase ordinary shares.\nOff-Balance Sheet Arrangements\nWe do not engage in any off-balance sheet financial arrangements that have or are reasonably likely to have a material\ncurrent or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations,\nliquidity, capital expenditures or capital resources.\nSignificant Accounting Policies and Critical Accou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_company_type",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to .\nCommission file number: 001-35346\nAPTIV PLC\n(Exact name of registrant as specified in its charter)\nJersey 98-1029562\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n5 Hanover Quay\nGrand Canal Dock\nDublin, D02 VY79, Ireland\n(Address of principal executive offices)\n353-1-259-7013\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\n3.100% Senior Notes due 2051 APTV Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒. No ☐.\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐. No ☒.\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒. No ☐.\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒. No ☐.\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_key_financials",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 15618m, net income 609m",
      "golden_context": "Page 43:\n\napproaches, including combining purchase requirements with customers and/or other suppliers, using alternate\nsuppliers or product designs, negotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle\nmanufacturer supply contracts and hedging.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2021 versus 2020. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2020 versus 2019 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2020, which was filed with the SEC on February 8, 2021.\n2021 versus 2020\nThe results of operations for the years ended December 31, 2021 and 2020 were as follows:\nYear Ended December 31,\n2021 2020\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 15,618 $ Cost of sales ........................................................................................................ 13,182 13,066 $ 2,552\n11,126 (2,056)\nGross margin ....................................................................................................... 2,436 15.6% 1,940 14.8% 496\nSelling, general and administrative ................................................................ 1,075 976 (99)\nAmortization................................................................................................... 148 144 (4)\nRestructuring .................................................................................................. 24 136 112\nGain on autonomous driving joint venture..................................................... — (1,434) (1,434)\nOperating income ................................................................................................ 1,189 2,118 (929)\nInterest expense .............................................................................................. (150) (164) 14\nOther expense, net .......................................................................................... (129) — (129)\nIncome before income taxes and equity loss....................................................... 910 1,954 (1,044)\nIncome tax expense ........................................................................................ (101) (49) (52)\nIncome before equity loss ................................................................................... 809 1,905 (1,096)\nEquity loss, net of tax..................................................................................... (200) (83) (117)\nNet income .......................................................................................................... 609 1,822 (1,213)\nNet income attributable to noncontrolling interest.............................................. 19 18 1\nNet income attributable to Aptiv......................................................................... 590 1,804 (1,214)\nMandatory convertible preferred share dividends............................................... (63) (35) (28)\nNet income attributable to ordinary shareholders ............................................... $ 527 $ 1,769 $ (1,242)\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2021 versus 2020.\n2021 Year Ended December 31, Variance Due To:\n2020\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\nCommodity\npass-\nthrough Other Total\n(in millions) (in millions)\n$ 1,936 $ 279 $ 337 $ — $ 2,552\nTotal net sales.................. $ 15,618 $ 13,066 $ 2,552 Total net sales for the year ended December 31, 2021 increased 20% compared to the year ended December 31, 2020.\nDespite the ongoing direct and indirect adverse impacts of the COVID-19 pandemic on vehicle production schedules and sales\nvolumes, which include the current global supply chain disruptions impacting the automotive industry, our overall volumes\nincreased 16% for the period from the unusually low 2020 volumes. Our total net sales for the year ended December 31, 2020\nwere adversely impacted by the governmental “lock-down” orders due to the COVID-19 pandemic for all non-essential\nactivities, initially in China during the first quarter of 2020 and subsequently in Europe and North America. Our total net sales",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_revenue",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 15618m",
      "golden_context": "Page 43:\n\napproaches, including combining purchase requirements with customers and/or other suppliers, using alternate\nsuppliers or product designs, negotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle\nmanufacturer supply contracts and hedging.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2021 versus 2020. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2020 versus 2019 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2020, which was filed with the SEC on February 8, 2021.\n2021 versus 2020\nThe results of operations for the years ended December 31, 2021 and 2020 were as follows:\nYear Ended December 31,\n2021 2020\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 15,618 $ Cost of sales ........................................................................................................ 13,182 13,066 $ 2,552\n11,126 (2,056)\nGross margin ....................................................................................................... 2,436 15.6% 1,940 14.8% 496\nSelling, general and administrative ................................................................ 1,075 976 (99)\nAmortization................................................................................................... 148 144 (4)\nRestructuring .................................................................................................. 24 136 112\nGain on autonomous driving joint venture..................................................... — (1,434) (1,434)\nOperating income ................................................................................................ 1,189 2,118 (929)\nInterest expense .............................................................................................. (150) (164) 14\nOther expense, net .......................................................................................... (129) — (129)\nIncome before income taxes and equity loss....................................................... 910 1,954 (1,044)\nIncome tax expense ........................................................................................ (101) (49) (52)\nIncome before equity loss ................................................................................... 809 1,905 (1,096)\nEquity loss, net of tax..................................................................................... (200) (83) (117)\nNet income .......................................................................................................... 609 1,822 (1,213)\nNet income attributable to noncontrolling interest.............................................. 19 18 1\nNet income attributable to Aptiv......................................................................... 590 1,804 (1,214)\nMandatory convertible preferred share dividends............................................... (63) (35) (28)\nNet income attributable to ordinary shareholders ............................................... $ 527 $ 1,769 $ (1,242)\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2021 versus 2020.\n2021 Year Ended December 31, Variance Due To:\n2020\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\nCommodity\npass-\nthrough Other Total\n(in millions) (in millions)\n$ 1,936 $ 279 $ 337 $ — $ 2,552\nTotal net sales.................. $ 15,618 $ 13,066 $ 2,552 Total net sales for the year ended December 31, 2021 increased 20% compared to the year ended December 31, 2020.\nDespite the ongoing direct and indirect adverse impacts of the COVID-19 pandemic on vehicle production schedules and sales\nvolumes, which include the current global supply chain disruptions impacting the automotive industry, our overall volumes\nincreased 16% for the period from the unusually low 2020 volumes. Our total net sales for the year ended December 31, 2020\nwere adversely impacted by the governmental “lock-down” orders due to the COVID-19 pandemic for all non-essential\nactivities, initially in China during the first quarter of 2020 and subsequently in Europe and North America. Our total net sales",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_revenue_growth",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 15618m, 13066m prior year",
      "golden_context": "Page 43:\n\napproaches, including combining purchase requirements with customers and/or other suppliers, using alternate\nsuppliers or product designs, negotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle\nmanufacturer supply contracts and hedging.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2021 versus 2020. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2020 versus 2019 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2020, which was filed with the SEC on February 8, 2021.\n2021 versus 2020\nThe results of operations for the years ended December 31, 2021 and 2020 were as follows:\nYear Ended December 31,\n2021 2020\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 15,618 $ Cost of sales ........................................................................................................ 13,182 13,066 $ 2,552\n11,126 (2,056)\nGross margin ....................................................................................................... 2,436 15.6% 1,940 14.8% 496\nSelling, general and administrative ................................................................ 1,075 976 (99)\nAmortization................................................................................................... 148 144 (4)\nRestructuring .................................................................................................. 24 136 112\nGain on autonomous driving joint venture..................................................... — (1,434) (1,434)\nOperating income ................................................................................................ 1,189 2,118 (929)\nInterest expense .............................................................................................. (150) (164) 14\nOther expense, net .......................................................................................... (129) — (129)\nIncome before income taxes and equity loss....................................................... 910 1,954 (1,044)\nIncome tax expense ........................................................................................ (101) (49) (52)\nIncome before equity loss ................................................................................... 809 1,905 (1,096)\nEquity loss, net of tax..................................................................................... (200) (83) (117)\nNet income .......................................................................................................... 609 1,822 (1,213)\nNet income attributable to noncontrolling interest.............................................. 19 18 1\nNet income attributable to Aptiv......................................................................... 590 1,804 (1,214)\nMandatory convertible preferred share dividends............................................... (63) (35) (28)\nNet income attributable to ordinary shareholders ............................................... $ 527 $ 1,769 $ (1,242)\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2021 versus 2020.\n2021 Year Ended December 31, Variance Due To:\n2020\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\nCommodity\npass-\nthrough Other Total\n(in millions) (in millions)\n$ 1,936 $ 279 $ 337 $ — $ 2,552\nTotal net sales.................. $ 15,618 $ 13,066 $ 2,552 Total net sales for the year ended December 31, 2021 increased 20% compared to the year ended December 31, 2020.\nDespite the ongoing direct and indirect adverse impacts of the COVID-19 pandemic on vehicle production schedules and sales\nvolumes, which include the current global supply chain disruptions impacting the automotive industry, our overall volumes\nincreased 16% for the period from the unusually low 2020 volumes. Our total net sales for the year ended December 31, 2020\nwere adversely impacted by the governmental “lock-down” orders due to the COVID-19 pandemic for all non-essential\nactivities, initially in China during the first quarter of 2020 and subsequently in Europe and North America. Our total net sales",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000265_segments",
      "report_id": "ID_000265",
      "company_name": "Aptiv",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Signal and Power Solutions; Advanced Safety and User Experience",
      "golden_context": "Page 8:\n\nports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities\nExchange Act of 1934 (the “Exchange Act”) are available free of charge through our website as soon as reasonably practicable\nafter they are electronically filed with, or furnished to, the Securities and Exchange Commission (“SEC”).\nOur Company\nWe believe the automotive industry is being shaped by rapidly increasing consumer demand for new mobility solutions,\nadvanced technologies, including software-defined vehicles, and vehicle connectivity, as well as increasing government\nregulation related to vehicle safety, fuel efficiency and emissions control. These industry mega-trends, which we refer to as\n“Safe,” “Green” and “Connected,” are driving higher growth in products that address these trends than growth in the\nautomotive industry overall. We have organized our business into two diversified segments, which enable us to develop\ntechnology solutions and manufacture highly-engineered products that enable our customers to respond to these mega-trends:\n• Signal and Power Solutions—This segment provides complete design, manufacture and assembly of the vehicle’s\nelectrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable\nmanagement, electrical centers and hybrid high voltage and safety distribution systems. Our products provide the\ncritical signal distribution and computing power backbone that supports increased vehicle content and electrification,\nreduced emissions and higher fuel econ\n\nnced technologies, including software-defined vehicles, and vehicle connectivity, as well as increasing government\nregulation related to vehicle safety, fuel efficiency and emissions control. These industry mega-trends, which we refer to as\n“Safe,” “Green” and “Connected,” are driving higher growth in products that address these trends than growth in the\nautomotive industry overall. We have organized our business into two diversified segments, which enable us to develop\ntechnology solutions and manufacture highly-engineered products that enable our customers to respond to these mega-trends:\n• Signal and Power Solutions—This segment provides complete design, manufacture and assembly of the vehicle’s\nelectrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable\nmanagement, electrical centers and hybrid high voltage and safety distribution systems. Our products provide the\ncritical signal distribution and computing power backbone that supports increased vehicle content and electrification,\nreduced emissions and higher fuel economy.\n4\n• Advanced Safety and User Experience—This segment provides critical technologies, systems integration and\nadvanced software development for vehicle safety, security, comfort and convenience, including sensing and\nperception systems, electronic control units, multi-domain controllers, vehicle connectivity systems, application\nsoftware and autonomous driving technologies. Our products increase vehicle connectivity, reduce driver distraction\nand enhance vehicle safety.\nRefer to Results of Operations by Segment in Ite",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_cash_flow",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1263m, investing: -5182m, financing: 2359m, total cash flow -1584",
      "golden_context": "Page 74:\n\nAPTIV PLC\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n2022 2021 2020\n(in millions)\nCash fl f f ows fr f f om operating activities:\nNet income ............................................................................................................................ $ 590 $ 609 $ 1,822\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation .................................................................................................................... 613 625 620\nAmortization.................................................................................................................... 149 148 144\nAmortization of defe f f rred debt issuance costs ................................................................. 9 8 9\nRestruc r r tur\nt ing expense, net of cash paid .......................................................................... 18 (56) (15)\nDefe f f rred income taxes..................................................................................................... (144) (60) (52)\nPension and other postretirement benefi f f t expenses......................................................... 30 39 38\nLoss fr f f om equity method investments, net of dividends received .................................. 284 206 92\nLoss on modifi\nf f cation of debt...........................................................................................\n— 1 4\nLoss on extinguishment of debt ......................................................................................\n— 126 —\nLoss on sale of assets ...................................................................................................... 1 — 3\nShare-based compensation .............................................................................................. 86 87 60\nGain on autonomous driving joint ventur t e, net...............................................................\n— — (1,434)\nOther charges related to Ukraine/Rus R R sia confl f f ict............................................................ 54 — —\nChanges in operating assets and liabi a lities:\nAccounts receivabl a e, net ................................................................................................. (497) 37 (243)\nInventories....................................................................................................................... (258) (710) (8)\nOther assets ..................................................................................................................... 66 61 78\nAccounts payabl a e ............................................................................................................ 137 265 186\nAccrue r r d and other long-term liabi a lities........................................................................... 142 (110) 173\nOther, net......................................................................................................................... 7 (26) (31)\nPension contributions ............................................................................................................ (24) (28) (33)\nNet cash provided by operating activities .................................................................................. 1,263 1,222 1,413\nCash fl f f ows fr f f om investing activities:\nCapi a tal expenditur t es.............................................................................................................. (844) (611) (584)\nProceeds fr f f om sale of property.............................................................................................. 4 9 10\nCost of business acquisitions and other transactions, net of cash acquired .......................... (4,310) (130) (49)\nProceeds fr f f om sale of technology investments ..................................................................... 3 22 —\nCost of technology investments ............................................................................................ (42) (2) (2)\nSettlement of derivatives....................................................................................................... 7 (17) (1)\nNet cash used in investing activities .......................................................................................... (5,182) (729) (626)\nCash fl f f ows fr f f om fi f f nancing activities:\nNet repayments under other short-term debt agreements...................................................... (1) (22) (372)\nNet repayments under other long-term debt agreements ...................................................... (4) (8) (39)\nRepayment of senior notes ....................................................................................................\n— (1,473) —\nProceeds fr f f om issuance of senior notes, net of issuance costs.............................................. 2,472 1,450 —\nFees related to modifi f f cation of debt agreements...................................................................\n— (6) (18)\nProceeds fr f f om the public off f f e f f ring of ordinary r r shares, net of issuance costs ........................\n— — 1,115\nProceeds fr f f om the public off f f e f f ring of prefe f f rred shares, net of issuance costs .......................\n— — 1,115\nContingent consideration payments ......................................................................................\n— (24) —\nDividend payments of consolidated aff f f i f f liates to minority shareholders ............................... (9) — (10)\nRepurchase of ordinary r shares ..............................................................................................\n— — (57)\nDistribution of mandatory r convertible prefe f f rred share cash dividends ................................ (63) (63) (32)\nDistribution of ordinary r r share cash dividends.......................................................................\n— — (56)\nTaxes withheld and paid on employees’ restricted share awards.......................................... (36) (45) (33)\nNet cash provided by (used in) fi f f nancing activities ................................................................... 2,359 (191) 1,613\nEff\nf f e f f ct of exchange rate fl f f uctua t tions on cash, cash equivalents and restricted cash................... (16) (Decrease) increase in cash, cash equivalents and restricted cash ............................................. (1,584) 286 2,424\nCash, cash equivalents and restricted cash at beginning of the year.......................................... 3,139 2,853 429\nCash, cash equivalents and restricted cash at end of the year .................................................... $ 1,555 $ 3,139 $ 2,853\n(24) 24\n70\nReconciliation of cash, cash equivalents and restricted cash and cash classifi f f ed as\nassets held for f f sale:\nDecember 31,\n2022 2021 2020\n(in millions)\nCash, cash equivalents and restricted cash................................................................................. $ 1,531 $ 3,139 $ 2,853\nCash classifi f f ed as assets held for f f sale ........................................................................................ 24 — —\nTotal cash, cash equivalents and restricted cash ........................................................................ $ 1,555 $ 3,139 $ 2,853\nSee notes to consolidated fi f f nancial statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_company_type",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 5:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHAN A For the fi f f scal year ended December 31, 2022\nOR\nSITION REPORT PURSUAN A A T TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHAN A For the transition period fr\nf f om to .\nCommission fi f f le number: 001-35346\nGE ACT OF 1934\nGE ACT OF 1934\nTitle of each class Name of each exchange on which registered\nOrdinary r r Shares. $0.01 par value per share APTIV PLC\n(Exact name of registrant as specifi f f ed in its charter)\nJersey 98-1029562\n(State or other jurisdiction of (I.R.S. Employer\nincorp r r oration or organization) Identifi f f cation No.)\n5 Hanover Quay, Grand Canal Dock, Dublin, D02 VY79, Ireland\n(Address of principal executive off f f i f f ces)\n353-1-259-7013\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading symbol(s) APTV New York Stock Exchange\n5.50% Mandatory r r Convertible Prefe\nf f rred Shares, Series A,\nAPTV PRA R New York Stock Exchange\n$0.01 par value per share\n2.396% Senior Notes due 2025 APTV New York Stock Exchange\n1.500% Senior Notes due 2025 APTV New York Stock Exchange\n1.600% Senior Notes due 2028 APTV New York Stock Exchange\n4.350% Senior Notes due 2029 APTV New York Stock Exchange\n3.250% Senior Notes due 2032 APTV New York Stock Exchange\n4.400% Senior Notes due 2046 APTV New York Stock Exchange\n5.400% Senior Notes due 2049 APTV New York Stock Exchange\n3.100% Senior Notes due 2051 APTV New York Stock Exchange\n4.150% Senior Notes due 2052 APTV New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nR R Indicate by check mark if the registrant is a well-known seasoned issuer, as defi f f ned in Rul\ne 405 of the Securities Act. Yes ☒. No ☐.\nIndicate by check mark if the registrant is not required to fi f f le reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐. No ☒.\nIndicate by check mark whether the registrant (1) has fi f f led all reports required to be fi f f led by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for f f such shorter period that the registrant was required to fi f f le such reports), and\n(2) has been subject to such fi f f ling requirements for f f the past 90 days. Yes ☒. No ☐.\nIndicate by check mark whether the registrant has submitted electronically every r Interactive Data File required to be submitted\npursuant to Rul R R e 405 of Regulation S-T (§232.405 of this chapt a er) during the preceding 12 months (or for f f such shorter period that the\nregistrant was required to submit such fi f f les). Yes ☒. No ☐.\nIndicate by check mark whether the registrant is a large accelerated fi f f ler, an accelerated fi f f ler, a non-accelerated fi f f ler, a smaller\nreporting company, or an emerging growth company. See the defi f f nitions of “large accelerated fi f f ler,\n” “accelerated fi f f ler,\n” “smaller reporting\nR R company,” and “emerging growth company” in Rul\ne 12b-2 of the Exchange Act.\nLarge accelerated fi f f ler ☒ Accelerated fi f f ler",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_key_financials",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 17489m, gross margin 2635m, net income 590m",
      "golden_context": "Page 44:\n\nity cost volatility to have a continual impact on fut\nf f ur t e earnings and/or operating cash fl f f ows. As such, we\ncontinually seek to mitigate both infl f f ationary r r pressures and our material-related cost exposures using a number of appr a oaches,\nincluding combining purchase requirements with customers and/or other suppliers, using alternate suppliers or product designs,\nnegotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle manufa f f ctur t er supply contracts\nand hedging. We have also negotiated, and will continue to negotiate, price increases with our customers in response to the\nafor f f ementioned global supply chain disrupt r ions.\nThis section discusses our consolidated results of operations and results of operations by segment for f f the years ended\nDecember 31, 2022 versus 2021. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for f f f f the years ended December 31, 2021 versus 2020 can be found\nunder Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for f f the year ended\nDecember 31, 2021, which was fi f f led with the SEC on Februa\nr r ry\nr r 7, 2022.\n2022 vers r r us 2021\nThe results of operations for f f the years ended December 31, 2022 and 2021 were as fol f f lows:\nYear Ended December 31,\n2022 2021\nFavorable/\n(unfavor f f able)\n(dollars in millions)\nNet sales .............................................................................................................. $ 17,489 $ 15,618 $ 1,871\nCost of sales ........................................................................................................ 14,854 13,182 (1,672)\nGross margin ....................................................................................................... 2,635 15.1% 2,436 15.6% 199\nSelling, general and administrative ................................................................ 1,138 1,075 (63)\nAmortization................................................................................................... 149 148 (1)\nRestruc r r tur t ing .................................................................................................. 85 24 (61)\nOperating income ................................................................................................ 1,263 1,189 74\nInterest expense .............................................................................................. (219) (150) (69)\nOther expense, net .......................................................................................... (54) (129) 75\nIncome befor f f e income taxes and equity loss....................................................... 990 910 80\nIncome tax expense ........................................................................................ (121) (101) (20)\nIncome befor f f e equity loss ................................................................................... 869 809 60\nEquity loss, net of tax..................................................................................... (279) (200) (79)\nNet income .......................................................................................................... 590 609 (19)\nNet (loss) income attributabl a e to noncontrolling interest.................................... (3) 19 (22)\nNet loss attributabl a e to redeemabl a e noncontrolling interest................................ (1) — (1)\nNet income attributabl a e to Aptiv......................................................................... 594 590 4\nMandatory\nr convertible prefe f f rred share dividends............................................... (63) (63) —\nNet income attributabl a e to ordinary r r shareholders ............................................... $ 531 $ 527 $ 4\n40\nTot T T al Ne N N t Sales\nBelow is a summary r r of our total net sales for f f Year Ended December 31, the years ended December 31, 2022 versus 2021.\nVariance Due To:\nVolume, net of\ncontractual\nprice\nreductions FX\n2022 2021\nFavorable/\n(unfavor\nf f able)\n(in millions) Total net sales.................. $ 17,489 $ 15,618 $ 1,871 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,458 $ (676) $ 45 $ 44 $ 1,871\nTotal net sales for f f the year ended December 31, 2022 increased 12% compared to the year ended December 31, 2021.\nOur volumes increased 14% for f f the period, which refl f f ects increased global automotive production of 5% (5% on an AWM\nbasis), which was partially off f f s f f et by unfa f f vorabl a e for f f eign currency impacts, primarily related to the Euro and Chinese Yuan\nRenminbi. The increase in volumes is primarily attrib",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_revenue",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 17489m",
      "golden_context": "Page 44:\n\nity cost volatility to have a continual impact on fut\nf f ur t e earnings and/or operating cash fl f f ows. As such, we\ncontinually seek to mitigate both infl f f ationary r r pressures and our material-related cost exposures using a number of appr a oaches,\nincluding combining purchase requirements with customers and/or other suppliers, using alternate suppliers or product designs,\nnegotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle manufa f f ctur t er supply contracts\nand hedging. We have also negotiated, and will continue to negotiate, price increases with our customers in response to the\nafor f f ementioned global supply chain disrupt r ions.\nThis section discusses our consolidated results of operations and results of operations by segment for f f the years ended\nDecember 31, 2022 versus 2021. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for f f f f the years ended December 31, 2021 versus 2020 can be found\nunder Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for f f the year ended\nDecember 31, 2021, which was fi f f led with the SEC on Februa\nr r ry\nr r 7, 2022.\n2022 vers r r us 2021\nThe results of operations for f f the years ended December 31, 2022 and 2021 were as fol f f lows:\nYear Ended December 31,\n2022 2021\nFavorable/\n(unfavor f f able)\n(dollars in millions)\nNet sales .............................................................................................................. $ 17,489 $ 15,618 $ 1,871\nCost of sales ........................................................................................................ 14,854 13,182 (1,672)\nGross margin ....................................................................................................... 2,635 15.1% 2,436 15.6% 199\nSelling, general and administrative ................................................................ 1,138 1,075 (63)\nAmortization................................................................................................... 149 148 (1)\nRestruc r r tur t ing .................................................................................................. 85 24 (61)\nOperating income ................................................................................................ 1,263 1,189 74\nInterest expense .............................................................................................. (219) (150) (69)\nOther expense, net .......................................................................................... (54) (129) 75\nIncome befor f f e income taxes and equity loss....................................................... 990 910 80\nIncome tax expense ........................................................................................ (121) (101) (20)\nIncome befor f f e equity loss ................................................................................... 869 809 60\nEquity loss, net of tax..................................................................................... (279) (200) (79)\nNet income .......................................................................................................... 590 609 (19)\nNet (loss) income attributabl a e to noncontrolling interest.................................... (3) 19 (22)\nNet loss attributabl a e to redeemabl a e noncontrolling interest................................ (1) — (1)\nNet income attributabl a e to Aptiv......................................................................... 594 590 4\nMandatory\nr convertible prefe f f rred share dividends............................................... (63) (63) —\nNet income attributabl a e to ordinary r r shareholders ............................................... $ 531 $ 527 $ 4\n40\nTot T T al Ne N N t Sales\nBelow is a summary r r of our total net sales for f f Year Ended December 31, the years ended December 31, 2022 versus 2021.\nVariance Due To:\nVolume, net of\ncontractual\nprice\nreductions FX\n2022 2021\nFavorable/\n(unfavor\nf f able)\n(in millions) Total net sales.................. $ 17,489 $ 15,618 $ 1,871 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,458 $ (676) $ 45 $ 44 $ 1,871\nTotal net sales for f f the year ended December 31, 2022 increased 12% compared to the year ended December 31, 2021.\nOur volumes increased 14% for f f the period, which refl f f ects increased global automotive production of 5% (5% on an AWM\nbasis), which was partially off f f s f f et by unfa f f vorabl a e for f f eign currency impacts, primarily related to the Euro and Chinese Yuan\nRenminbi. The increase in volumes is primarily attrib",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_revenue_growth",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 17489m, net sales prior year 15618m",
      "golden_context": "Page 44:\n\nity cost volatility to have a continual impact on fut\nf f ur t e earnings and/or operating cash fl f f ows. As such, we\ncontinually seek to mitigate both infl f f ationary r r pressures and our material-related cost exposures using a number of appr a oaches,\nincluding combining purchase requirements with customers and/or other suppliers, using alternate suppliers or product designs,\nnegotiating cost reductions and/or commodity cost contract escalation clauses into our vehicle manufa f f ctur t er supply contracts\nand hedging. We have also negotiated, and will continue to negotiate, price increases with our customers in response to the\nafor f f ementioned global supply chain disrupt r ions.\nThis section discusses our consolidated results of operations and results of operations by segment for f f the years ended\nDecember 31, 2022 versus 2021. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for f f f f the years ended December 31, 2021 versus 2020 can be found\nunder Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for f f the year ended\nDecember 31, 2021, which was fi f f led with the SEC on Februa\nr r ry\nr r 7, 2022.\n2022 vers r r us 2021\nThe results of operations for f f the years ended December 31, 2022 and 2021 were as fol f f lows:\nYear Ended December 31,\n2022 2021\nFavorable/\n(unfavor f f able)\n(dollars in millions)\nNet sales .............................................................................................................. $ 17,489 $ 15,618 $ 1,871\nCost of sales ........................................................................................................ 14,854 13,182 (1,672)\nGross margin ....................................................................................................... 2,635 15.1% 2,436 15.6% 199\nSelling, general and administrative ................................................................ 1,138 1,075 (63)\nAmortization................................................................................................... 149 148 (1)\nRestruc r r tur t ing .................................................................................................. 85 24 (61)\nOperating income ................................................................................................ 1,263 1,189 74\nInterest expense .............................................................................................. (219) (150) (69)\nOther expense, net .......................................................................................... (54) (129) 75\nIncome befor f f e income taxes and equity loss....................................................... 990 910 80\nIncome tax expense ........................................................................................ (121) (101) (20)\nIncome befor f f e equity loss ................................................................................... 869 809 60\nEquity loss, net of tax..................................................................................... (279) (200) (79)\nNet income .......................................................................................................... 590 609 (19)\nNet (loss) income attributabl a e to noncontrolling interest.................................... (3) 19 (22)\nNet loss attributabl a e to redeemabl a e noncontrolling interest................................ (1) — (1)\nNet income attributabl a e to Aptiv......................................................................... 594 590 4\nMandatory\nr convertible prefe f f rred share dividends............................................... (63) (63) —\nNet income attributabl a e to ordinary r r shareholders ............................................... $ 531 $ 527 $ 4\n40\nTot T T al Ne N N t Sales\nBelow is a summary r r of our total net sales for f f Year Ended December 31, the years ended December 31, 2022 versus 2021.\nVariance Due To:\nVolume, net of\ncontractual\nprice\nreductions FX\n2022 2021\nFavorable/\n(unfavor\nf f able)\n(in millions) Total net sales.................. $ 17,489 $ 15,618 $ 1,871 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,458 $ (676) $ 45 $ 44 $ 1,871\nTotal net sales for f f the year ended December 31, 2022 increased 12% compared to the year ended December 31, 2021.\nOur volumes increased 14% for f f the period, which refl f f ects increased global automotive production of 5% (5% on an AWM\nbasis), which was partially off f f s f f et by unfa f f vorabl a e for f f eign currency impacts, primarily related to the Euro and Chinese Yuan\nRenminbi. The increase in volumes is primarily attrib",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000266_segments",
      "report_id": "ID_000266",
      "company_name": "Aptiv",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Signal and Power Solutions; Advanced Safety and User Experience",
      "golden_context": "Page 9:\n\nvant product solutions for f f our customers.\nWe are foc\nf f used on growing and improving the profi f f tabi a lity of our businesses, and have implemented a strategy designed\nto position the Company to deliver industry- r r leading long-term shareholder retur t ns. This strategy includes disciplined investing\nf f in our business to grow and enhance our product off f f e f f rings, strategically foc f f using our portfol\nio in high-technology, high-growth\nspaces in order to meet consumer prefe f f rences and leveraging an industry- r r leading cost struc r tur t e to expand our operating\nmargins.\nWebsite Access to Company’s Reports\nAptiv’s website address is aptiv.com. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current\nf f Reports on Form 8-K and amendments to those reports fi f f led or fur\nnished pursuant to Section 13(a) or 15(d) of the Securities\nExchange Act of 1934 (the “Exchange Act”) are availabl a e fr\nf f ee of charge through our website as soon as reasonabl a y practicabl a e\naft f f er they are electronically fi f f led with, or fur f f nished to, the Securities and Exchange Commission (“SEC”).\nOur Company\nWe believe the automotive industry r r is being shape a d by rapi a dly increasing consumer demand for f f new mobility solutions,\nadvanced technologies, including soft f f ware-defi f f ned vehicles, and vehicle connectivity, as well as increasing government\nregulation related to vehicle safe f f ty, fue f f l eff f f i f f ciency and emissions control. These industry r r mega-trends, which we refe f f r to as\n“Safe f f ,\n” “Green” and “Connected,\n” are driving higher growth in products that address these trends than growth in the\nautomotive industry r r overall. We have organized our business into two diversifi\nf f ed segments, which enabl a e us to develop\ntechnology solutions and manufa f f ctur t e highly-engineered products that enabl a e our customers to respond to these mega-trends:\n• Si S S gn i al and Pow P P er Sol S S uti t t ons—This segment provides complete design, manufa f f ctur t e and assembly of the vehicle’s\nelectrical architectur t e, including engineered component products, connectors, wiring assemblies and harnesses, cabl a e\nmanagement, electrical centers and hybrid high voltage and safe\nf f ty distribution systems. Our products provide the\ncritical signal distribution and computing power backbone that supports increased vehicle content and electrifi\nf f cation,\nreduced emissions and higher fue f f l economy.\n• Advanced Saf S S e f f ty t t and Us U U er Expe E E rience—T e e his segment provides critical technologies and services to enhance vehicle\nsafe f f ty, security, comfor f f t and convenience, including sensing and perception systems, electronic control units, multi-\ndomain controllers, vehicle connectivity systems, cloud-native soft f f ware platfor\nf f ms, appl a ication soft f f ware, autonomous\ndriving technologies and end-to-end DevOps tools. Our products increase vehicle connectivity, reduce driver\ndistraction and enhance vehicle safe f f ty.\nRefe\nf f r to Results of Operations by Segment in Item 7. Management’s Discussion and Analysis of Financial Condition and\nResults of Operations and Note 22. Segment Reporting to the audited consolidated fi\nf f nancial statements for f f fi\nf f nancial\ninfor f f mation about a our business segments.\nf f Our business is diversifi f f ed across end-markets, regions, customers, vehicle platfor\nms and products. Our customer base\nincludes the 25 largest automotive OEMs in the world, and in 2022, 30% of our net sales came fr f f om the Asia Pacifi f f c ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_cash_flow",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1896m, investing: -1002m, financing: -807",
      "golden_context": "Page 57:\n\nCash Flows\nIntra-month cash flow cycles vary by region, but in general we are users of cash through the first half of a typical month\nand we generate cash during the latter half of a typical month. Due to this cycle of cash flows, we may utilize short-term\nfinancing, including our Revolving Credit Facility and European accounts receivable factoring facility, to manage our intra-\nmonth working capital needs. Our cash balance typically peaks at month end.\nWe utilize a combination of strategies, including dividends, cash pooling arrangements, intercompany loan structures and\nother distributions and advances to provide the funds necessary to meet our global liquidity needs. We utilize a global cash\npooling arrangement to consolidate and manage our global cash balances, which enables us to efficiently move cash into and\nout of a number of the countries in which we operate.\nOperating activities—Net cash provided by operating activities totaled $1,896 million and $1,263 million for the years\nended December 31, 2023 and 2022, respectively. Cash flows provided by operating activities for the year ended December 31,\n2023 consisted primarily of net earnings of $2,966 million, increased by $956 million for non-cash charges for depreciation,\namortization and pension costs, partially offset by $2,164 million related to non-cash changes in deferred income taxes,\nprimarily resulting from the tax benefit associated with the intercompany transfers of certain intellectual property, and $293\nmillion related to operating assets and liabilities, net of restructuring and pension contributions. Cash flows provided by\noperating activities for the year ended December 31, 2022 consisted primarily of net earnings of $590 million, increased by\n$792 million for non-cash charges for depreciation, amortization and pension costs, partially offset by $409 million related to\nchanges in operating assets and liabilities, net of restructuring and pension contributions.\nInvesting activities—Net cash used in investing activities totaled $1,002 million and $5,182 million for the years ended\nDecember 31, 2023 and 2022, respectively. The decrease in usage is primarily attributable to $83 million paid for business\nacquisitions and other transactions during the year ended December 31, 2023 as compared to $4,310 million during the year\nended December 31, 2022, partially offset by increased capital expenditures of $62 million during the year ended December 31,\n2023 as compared to the year ended December 31, 2022.\nFinancing activities—Net cash used in financing activities totaled $807 million for the year ended December 31, 2023\nand net cash provided by financing activities totaled $2,359 million for the year ended December 31, 2022. Cash flows used in\nfinancing activities for the year ended December 31, 2023 primarily included $398 million paid to repurchase ordinary shares,\n$309 million in repayments under other long-term debt agreements and $32 million of MCPS dividend payments. Cash flows\nprovided by financing activities for the year ended December 31, 2022 primarily included net proceeds of $2,472 million\nreceived from the issuance of the 2022 Senior Notes, partially offset by $63 million of MCPS dividend payments.\nOff-Balance Sheet Arrangements\nWe do not engage in any of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_company_type",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "PLC",
      "golden_context": "Page 5:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to .\nCommission file number: 001-35346\nTitle of each class APTIV PLC\n(Exact name of registrant as specified in its charter)\nJersey 98-1029562\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n5 Hanover Quay, Grand Canal Dock, Dublin, D02 VY79, Ireland\n(Address of principal executive offices)\n353-1-259-7013\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading symbol(s) Name of each exchange on which registered\nOrdinary Shares. $0.01 par value per share APTV New York Stock Exchange\n2.396% Senior Notes due 2025 APTV New York Stock Exchange\n1.500% Senior Notes due 2025 APTV New York Stock Exchange\n1.600% Senior Notes due 2028 APTV New York Stock Exchange\n4.350% Senior Notes due 2029 APTV New York Stock Exchange\n3.250% Senior Notes due 2032 APTV New York Stock Exchange\n4.400% Senior Notes due 2046 APTV New York Stock Exchange\n5.400% Senior Notes due 2049 APTV New York Stock Exchange\n3.100% Senior Notes due 2051 APTV New York Stock Exchange\n4.150% Senior Notes due 2052 APTV New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒. No ☐.\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐. No ☒.\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes ☒. No ☐.\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit such files). Yes ☒. No ☐.\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting\ncompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by the check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_key_financials",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 20051m, net income 2966m",
      "golden_context": "Page 43:\n\nres and our material-related cost exposures using a number of approaches, including combining purchase requirements\nwith customers and/or other suppliers, using alternate suppliers or product designs, negotiating cost reductions and/or\ncommodity cost contract escalation clauses into our vehicle manufacturer supply contracts and hedging. We have also\nnegotiated, and will continue to negotiate, price increases with our customers in response to the aforementioned increased\noverall inflation and global supply chain disruptions.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2023 versus 2022. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2022 versus 2021 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2022, which was filed with the SEC on February 8, 2023.\n2023 versus 2022\nThe results of operations for the years ended December 31, 2023 and 2022 were as follows:\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 20,051 $ 17,489 $ 2,562\nCost of sales ........................................................................................................ 16,612 14,854 (1,758)\nGross margin ....................................................................................................... 3,439 17.2% 2,635 15.1% 804\nSelling, general and administrative ................................................................ 1,436 1,138 (298)\nAmortization................................................................................................... 233 149 (84)\nRestructuring .................................................................................................. 211 85 (126)\nOperating income ................................................................................................ 1,559 1,263 296\nInterest expense.............................................................................................. (285) (219) (66)\nOther income (expense), net........................................................................... 63 (54) 117\nIncome before income taxes and equity loss....................................................... 1,337 990 347\nIncome tax benefit (expense) ......................................................................... 1,928 (121) 2,049\nIncome before equity loss ................................................................................... 3,265 869 2,396\nEquity loss, net of tax..................................................................................... (299) (279) (20)\nNet income .......................................................................................................... 2,966 590 2,376\nNet income (loss) attributable to noncontrolling interest.................................... 28 (3) 31\nNet loss attributable to redeemable noncontrolling interest................................ — (1) 1\nNet income attributable to Aptiv......................................................................... 2,938 594 2,344\nMandatory convertible preferred share dividends............................................... (29) (63) 34\nNet income attributable to ordinary shareholders ............................................... $ 2,909 $ 531 $ 2,378\n39\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2023 versus 2022.\nYear Ended December 31, Variance Due To:\n2023 2022\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\n(in millions) Total net sales.................. $ 20,051 $ 17,489 $ 2,562 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,114 $ (118) $ (68) $ 634 $ 2,562\nTotal net sales for the year ended December 31, 2023 increased 15% compared to the year ended December 31, 2022.\nOur volumes increased 10% for the period, which reflects volume growth in all regions, as well as increased global automotive\nproduction of 9% (10% on an AWM basis), which was partially offset by adverse impacts of approximately $180 million\nresulting from the UAW labor strikes and unfavorable foreign currency impacts, primarily related to the Chinese Yuan\nRenminbi, partially offset by impacts related to the Euro. Our total net sales also reflect the impact of favorable pricing, net of\ncontractual price reductions, of $345 million, and net sales as a result of our acquisitions of Wind River and Intercable\nAutomotive of $634 million, which is reflected in Other above.\nVariance Due To:\nVolume (a) FX\nOperational\nperformance Other Total\nCost of Sales\nCost of sales is primarily comprised of material, labor, manufacturing overhead, freight, fluctuations in foreign currency\nexchange rates, product engineering, design and development expenses, depreciation, warranty costs and other operating\nexpenses. Gross margin is revenue less cost of sales and gross margin percentage is gross margin as a percentage of net sales.\nCost of sales increased $1,758 million for the year ended December 31, 2023 compared to the year ended December 31,\n2022, as summarized below. The Company’s material cost of sales was approximately 55% of net sales in both the years ended\nDecember 31, 2023 and 2022, respectively.\nYear Ended December 31, Favorable/\n2023 2022\n(unfavorable) (dollars in millions) Cost of sales .................... $16,612 $14,854 $ (1,758) Gross margin................... $ 3,439 $ 2,635 $ 804 Percentage of net sales .... 17.2 % 15.1 %\n(a) Presented net of contractual price reductions for gross margin variance.\nThe increase in cost of sales reflects increased volumes, as well as the impacts from currency exchange and operational\nperformance. Our operational performance for the year ended December 31, 2023 includes approximately $365 million of\nincreased costs for semiconductors and commodities, as well as approximately $110 million of decreased costs, primarily\nrelated to material logistics costs associated with the global supply chain disruptions due to the worldwide semiconductor\nshortage and other extraordinary events. Cost of sales was also impacted by the following items in Other above:\n• Increased costs of $418 million resulting from the operations of the businesses acquired; and\n• Increased incentive compensation costs of approximately $30 million; partially offset by\n• $68 million of decreased commodity pass-through costs.\n(in millions)\n$ (1,263) $ (13) $ (91) $ (391) $ (1,758)\n$ 851 $ (131) $ (91) $ 175 $ 804\nSelling, General and Administrative Expense\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nSelling, general and administrative expense ............................................................... $ 1,436 $ 1,138 $ (298)\nPercentage of net sales ................................................................................................ 7.2 % 6.5 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_revenue",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 20051m",
      "golden_context": "Page 43:\n\nres and our material-related cost exposures using a number of approaches, including combining purchase requirements\nwith customers and/or other suppliers, using alternate suppliers or product designs, negotiating cost reductions and/or\ncommodity cost contract escalation clauses into our vehicle manufacturer supply contracts and hedging. We have also\nnegotiated, and will continue to negotiate, price increases with our customers in response to the aforementioned increased\noverall inflation and global supply chain disruptions.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2023 versus 2022. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2022 versus 2021 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2022, which was filed with the SEC on February 8, 2023.\n2023 versus 2022\nThe results of operations for the years ended December 31, 2023 and 2022 were as follows:\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 20,051 $ 17,489 $ 2,562\nCost of sales ........................................................................................................ 16,612 14,854 (1,758)\nGross margin ....................................................................................................... 3,439 17.2% 2,635 15.1% 804\nSelling, general and administrative ................................................................ 1,436 1,138 (298)\nAmortization................................................................................................... 233 149 (84)\nRestructuring .................................................................................................. 211 85 (126)\nOperating income ................................................................................................ 1,559 1,263 296\nInterest expense.............................................................................................. (285) (219) (66)\nOther income (expense), net........................................................................... 63 (54) 117\nIncome before income taxes and equity loss....................................................... 1,337 990 347\nIncome tax benefit (expense) ......................................................................... 1,928 (121) 2,049\nIncome before equity loss ................................................................................... 3,265 869 2,396\nEquity loss, net of tax..................................................................................... (299) (279) (20)\nNet income .......................................................................................................... 2,966 590 2,376\nNet income (loss) attributable to noncontrolling interest.................................... 28 (3) 31\nNet loss attributable to redeemable noncontrolling interest................................ — (1) 1\nNet income attributable to Aptiv......................................................................... 2,938 594 2,344\nMandatory convertible preferred share dividends............................................... (29) (63) 34\nNet income attributable to ordinary shareholders ............................................... $ 2,909 $ 531 $ 2,378\n39\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2023 versus 2022.\nYear Ended December 31, Variance Due To:\n2023 2022\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\n(in millions) Total net sales.................. $ 20,051 $ 17,489 $ 2,562 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,114 $ (118) $ (68) $ 634 $ 2,562\nTotal net sales for the year ended December 31, 2023 increased 15% compared to the year ended December 31, 2022.\nOur volumes increased 10% for the period, which reflects volume growth in all regions, as well as increased global automotive\nproduction of 9% (10% on an AWM basis), which was partially offset by adverse impacts of approximately $180 million\nresulting from the UAW labor strikes and unfavorable foreign currency impacts, primarily related to the Chinese Yuan\nRenminbi, partially offset by impacts related to the Euro. Our total net sales also reflect the impact of favorable pricing, net of\ncontractual price reductions, of $345 million, and net sales as a result of our acquisitions of Wind River and Intercable\nAutomotive of $634 million, which is reflected in Other above.\nVariance Due To:\nVolume (a) FX\nOperational\nperformance Other Total\nCost of Sales\nCost of sales is primarily comprised of material, labor, manufacturing overhead, freight, fluctuations in foreign currency\nexchange rates, product engineering, design and development expenses, depreciation, warranty costs and other operating\nexpenses. Gross margin is revenue less cost of sales and gross margin percentage is gross margin as a percentage of net sales.\nCost of sales increased $1,758 million for the year ended December 31, 2023 compared to the year ended December 31,\n2022, as summarized below. The Company’s material cost of sales was approximately 55% of net sales in both the years ended\nDecember 31, 2023 and 2022, respectively.\nYear Ended December 31, Favorable/\n2023 2022\n(unfavorable) (dollars in millions) Cost of sales .................... $16,612 $14,854 $ (1,758) Gross margin................... $ 3,439 $ 2,635 $ 804 Percentage of net sales .... 17.2 % 15.1 %\n(a) Presented net of contractual price reductions for gross margin variance.\nThe increase in cost of sales reflects increased volumes, as well as the impacts from currency exchange and operational\nperformance. Our operational performance for the year ended December 31, 2023 includes approximately $365 million of\nincreased costs for semiconductors and commodities, as well as approximately $110 million of decreased costs, primarily\nrelated to material logistics costs associated with the global supply chain disruptions due to the worldwide semiconductor\nshortage and other extraordinary events. Cost of sales was also impacted by the following items in Other above:\n• Increased costs of $418 million resulting from the operations of the businesses acquired; and\n• Increased incentive compensation costs of approximately $30 million; partially offset by\n• $68 million of decreased commodity pass-through costs.\n(in millions)\n$ (1,263) $ (13) $ (91) $ (391) $ (1,758)\n$ 851 $ (131) $ (91) $ 175 $ 804\nSelling, General and Administrative Expense\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nSelling, general and administrative expense ............................................................... $ 1,436 $ 1,138 $ (298)\nPercentage of net sales ................................................................................................ 7.2 % 6.5 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_revenue_growth",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 20051m, prior year 17489m",
      "golden_context": "Page 43:\n\nres and our material-related cost exposures using a number of approaches, including combining purchase requirements\nwith customers and/or other suppliers, using alternate suppliers or product designs, negotiating cost reductions and/or\ncommodity cost contract escalation clauses into our vehicle manufacturer supply contracts and hedging. We have also\nnegotiated, and will continue to negotiate, price increases with our customers in response to the aforementioned increased\noverall inflation and global supply chain disruptions.\nThis section discusses our consolidated results of operations and results of operations by segment for the years ended\nDecember 31, 2023 versus 2022. A detailed discussion of our consolidated results of operations and results of operations by\nsegment for the years ended December 31, 2022 versus 2021 can be found under Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended\nDecember 31, 2022, which was filed with the SEC on February 8, 2023.\n2023 versus 2022\nThe results of operations for the years ended December 31, 2023 and 2022 were as follows:\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nNet sales .............................................................................................................. $ 20,051 $ 17,489 $ 2,562\nCost of sales ........................................................................................................ 16,612 14,854 (1,758)\nGross margin ....................................................................................................... 3,439 17.2% 2,635 15.1% 804\nSelling, general and administrative ................................................................ 1,436 1,138 (298)\nAmortization................................................................................................... 233 149 (84)\nRestructuring .................................................................................................. 211 85 (126)\nOperating income ................................................................................................ 1,559 1,263 296\nInterest expense.............................................................................................. (285) (219) (66)\nOther income (expense), net........................................................................... 63 (54) 117\nIncome before income taxes and equity loss....................................................... 1,337 990 347\nIncome tax benefit (expense) ......................................................................... 1,928 (121) 2,049\nIncome before equity loss ................................................................................... 3,265 869 2,396\nEquity loss, net of tax..................................................................................... (299) (279) (20)\nNet income .......................................................................................................... 2,966 590 2,376\nNet income (loss) attributable to noncontrolling interest.................................... 28 (3) 31\nNet loss attributable to redeemable noncontrolling interest................................ — (1) 1\nNet income attributable to Aptiv......................................................................... 2,938 594 2,344\nMandatory convertible preferred share dividends............................................... (29) (63) 34\nNet income attributable to ordinary shareholders ............................................... $ 2,909 $ 531 $ 2,378\n39\nTotal Net Sales\nBelow is a summary of our total net sales for the years ended December 31, 2023 versus 2022.\nYear Ended December 31, Variance Due To:\n2023 2022\nFavorable/\n(unfavorable)\nVolume, net of\ncontractual\nprice\nreductions FX\n(in millions) Total net sales.................. $ 20,051 $ 17,489 $ 2,562 Commodity\npass-\nthrough Other Total\n(in millions)\n$ 2,114 $ (118) $ (68) $ 634 $ 2,562\nTotal net sales for the year ended December 31, 2023 increased 15% compared to the year ended December 31, 2022.\nOur volumes increased 10% for the period, which reflects volume growth in all regions, as well as increased global automotive\nproduction of 9% (10% on an AWM basis), which was partially offset by adverse impacts of approximately $180 million\nresulting from the UAW labor strikes and unfavorable foreign currency impacts, primarily related to the Chinese Yuan\nRenminbi, partially offset by impacts related to the Euro. Our total net sales also reflect the impact of favorable pricing, net of\ncontractual price reductions, of $345 million, and net sales as a result of our acquisitions of Wind River and Intercable\nAutomotive of $634 million, which is reflected in Other above.\nVariance Due To:\nVolume (a) FX\nOperational\nperformance Other Total\nCost of Sales\nCost of sales is primarily comprised of material, labor, manufacturing overhead, freight, fluctuations in foreign currency\nexchange rates, product engineering, design and development expenses, depreciation, warranty costs and other operating\nexpenses. Gross margin is revenue less cost of sales and gross margin percentage is gross margin as a percentage of net sales.\nCost of sales increased $1,758 million for the year ended December 31, 2023 compared to the year ended December 31,\n2022, as summarized below. The Company’s material cost of sales was approximately 55% of net sales in both the years ended\nDecember 31, 2023 and 2022, respectively.\nYear Ended December 31, Favorable/\n2023 2022\n(unfavorable) (dollars in millions) Cost of sales .................... $16,612 $14,854 $ (1,758) Gross margin................... $ 3,439 $ 2,635 $ 804 Percentage of net sales .... 17.2 % 15.1 %\n(a) Presented net of contractual price reductions for gross margin variance.\nThe increase in cost of sales reflects increased volumes, as well as the impacts from currency exchange and operational\nperformance. Our operational performance for the year ended December 31, 2023 includes approximately $365 million of\nincreased costs for semiconductors and commodities, as well as approximately $110 million of decreased costs, primarily\nrelated to material logistics costs associated with the global supply chain disruptions due to the worldwide semiconductor\nshortage and other extraordinary events. Cost of sales was also impacted by the following items in Other above:\n• Increased costs of $418 million resulting from the operations of the businesses acquired; and\n• Increased incentive compensation costs of approximately $30 million; partially offset by\n• $68 million of decreased commodity pass-through costs.\n(in millions)\n$ (1,263) $ (13) $ (91) $ (391) $ (1,758)\n$ 851 $ (131) $ (91) $ 175 $ 804\nSelling, General and Administrative Expense\nYear Ended December 31,\n2023 2022\nFavorable/\n(unfavorable)\n(dollars in millions)\nSelling, general and administrative expense ............................................................... $ 1,436 $ 1,138 $ (298)\nPercentage of net sales ................................................................................................ 7.2 % 6.5 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000267_segments",
      "report_id": "ID_000267",
      "company_name": "Aptiv",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Signal and Power Solutions; Advanced Safety and User Experience",
      "golden_context": "Page 12:\n\nionally performed by vehicle manufacturers. Suppliers that can provide fully engineered solutions, systems and\npre-assembled combinations of component parts are positioned to leverage the trend toward system sourcing.\nShorter Product Development Cycles\nAs a result of government regulations and customer preferences, OEMs are requiring suppliers to respond faster with new\ndesigns and product innovations. While these trends are more prevalent in mature markets, certain key growth markets are\nadvancing rapidly towards the regulatory standards and consumer preferences of the more mature markets. Suppliers with\nstrong technologies, robust global engineering and development capabilities will be best positioned to meet OEM demands for\nrapid innovation.\nProducts\nOur organizational structure and management reporting support the management of these core product lines:\nSignal and Power Solutions. This segment provides complete design, manufacture and assembly of the vehicle’s\nelectrical architecture, including connectors, wiring assemblies and harnesses, cable management, electrical centers and high\nvoltage and safety-critical distribution systems. Our products provide the signal distribution and computing power backbone\nthat supports increased vehicle content and electrification, reduced emissions, higher fuel economy and off-vehicle\nconnectivity.\n• High quality connectors are engineered primarily for use in automotive and related markets, and also have\napplications in the industrial, telematics, aerospace, defense and medical sectors.\n• Electrical centers provide centralized electrical power and signal distribution and all of the associated circuit\nprotection and switching devices, needed to support the optimization of the overall vehicle electrical system.\n• Distribution systems, including 48-volt hybrid and high voltage systems, are integrated into one optimized vehicle\nelectrical system that can utilize smaller cable and gauge sizes and ultra-thin wall insulation (this product line makes\nup approximately 42%, 44% and 42% of our total revenue for the years ended December 31, 2023, 2022 and 2021,\nrespectively).\nAdvanced Safety and User Experience. This segment provides critical technologies and services to enhance vehicle\nsafety, security, comfort and convenience, including sensing and perception systems, electronic control units, multi-domain\ncontrollers, vehicle connectivity systems, cloud-native software platforms, application software, autonomous driving\ntechnologies and end-to-end DevOps tools.\n• Advanced Safety primarily consists of solutions that enable advanced safety features and vehicle automation, as well\nas radar, vision and other sensing technologies.\n• User Experience primarily enables in-cabin solutions around infotainment, driver interface and interior sensing\nsolutions.\n• Smart Vehicle Compute and Software primarily consists of zone control and centralized computing platforms, as well\nas edge-to-cloud tools.\nCompetition\nAlthough the overall number of our top competitors has decreased due to ongoing industry consolidation, the automotive\ntechnology and components industry remains extremely competitive. Furthermore, the rapidly evolving nature of the markets in\nwhich we compete has attracted, and ma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_cash_flow",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operations: 2.2bn, investing: -11.2bn, financing: 8.2bn",
      "golden_context": "Page 51:\n\nONSOLIDATED STATEMENTS OF CASH FLOW\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nyears ended December 31 (in millions) 2021 2020 2019\nCash flows from operations\nNet income $ 1,295 $ 1,110 $ 1,011\nAdjustments to reconcile net income to net cash from operating activities:\nDepreciation and amortization 890 823 789\nPension settlement charges 2 46 755\nNet periodic pension benefit and other postretirement costs 99 81 22\nDeferred income taxes (146) (88) (310)\nStock compensation 146 130 122\nLoss on debt extinguishment 5 110 —\nIntangible asset impairments — 17 31\nSettlement of interest rate derivative contracts — (173) —\nOther 92 86 115\nChanges in balance sheet items:\nAccounts receivable, net (170) (119) (52)\nInventories (37) (162) 4\nPrepaid expenses and other current assets (41) (37) (31)\nAccounts payable 104 57 (23)\nAccrued expenses and other current liabilities 108 86 (196)\nOther (125) (97) (127)\nCash flows from operations – continuing operations 2,222 1,870 2,110\nCash flows from operations – discontinued operations — (2) (6)\nCash flows from operations 2,222 1,868 2,104\nCash flows from investing activities\nCapital expenditures (743) (709) (696)\nAcquisitions, net of cash acquired, and investments (10,502) (494) (418)\nOther investing activities, net 45 24 14\nCash flows from investing activities (11,200) (1,179) (1,100)\nCash flows from financing activities\nIssuances of debt 11,903 1,885 1,661\nRepayments of debt (2,823) (1,181) —\nNet increase (decrease) in debt with original maturities of three months or less 246 (226) 222\nCash dividends on common stock (530) (473) (423)\nProceeds from stock issued under employee benefit plans 187 202 356\nPurchases of treasury stock (600) (500) (1,270)\nDebt issuance costs (98) (5) (2)\nOther financing activities, net (40) (47) (46)\nCash flows from financing activities 8,245 (345) 498\nEffect of foreign exchange rate changes on cash, cash equivalents and restricted cash (47) 57 (5)\nIncrease (decrease) in cash, cash equivalents and restricted cash (780) 401 1,497\nCash, cash equivalents and restricted cash at beginning of year (1)\n3,736 3,335 1,838\nCash, cash equivalents and restricted cash at end of year (1)\n$ 2,956 $ 3,736 $ 3,335\n(1)\nWe did not have restricted cash balances as of December 31, 2019. The following table provides a reconciliation of cash, cash equivalents and\nrestricted cash amounts as shown in the consolidated statement of cash flows to the\namount reported in the consolidated balance sheet as of December 31, 2021 and 2020:\nAs of December 31 (in millions) 2021 2020\nCash and cash equivalents $ 2,951 $ 3,730\nRestricted cash included in prepaid expenses and other current assets 5 6\nCash, cash equivalents and restricted cash $ 2,956 $ 3,736\nThe accompanying notes are an integral part of these consolidated financial statements.\n51\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nNOTE 1\nSUMMARY OF SIGNIFICANT ACCOUNTING POLICIES\nNature of Operations\nBaxter International Inc., through our subsidiaries (col",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_company_type",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_____________________________________________________________________________________________\nFORM 10-K\n_____________________________________________________________________________________________\n(Mark One)\n☑ ☑ ☐ ☐ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission file number 1-4448\n_____________________________________________________________________________________________\nBaxter International Inc.\n(Exact Name of Registrant as Specified in its Charter)\n_____________________________________________________________________________________________\nDelaware 36-0781620\n(State or Other Jurisdiction of\n(I.R.S. Employer\nIncorporation or Organization)\nIdentification No.)\nOne Baxter Parkway, Deerfield, Illinois (Address of Principal Executive Offices) 60015\n(Zip Code)\nTitle of Each Class Registrant’s telephone number, including area code 224.948.2000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of Each Exchange on Which Registered\nCommon stock, $1.00 par value 0.4% Global Notes due 2024 1.3% Global Notes due 2025 1.3% Global Notes due 2029 3.95% Global Notes due 2030 1.73% Global Notes due 2031 BAX (NYSE) BAX 24 BAX 25 BAX 29 BAX 30 BAX 31 New York Stock Exchange\nChicago Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_____________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑\nNo ☐\nIndicate by check mark whether registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405\nof this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting c",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_key_financials",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "EPS basic: 2.56, EPS diluted: 2.53",
      "golden_context": "Page 52:\n\nCONSOLIDATED STATEMENTS OF INCOME\nyears ended December 31 (in millions, except per share data) 2021 2020 2019\nNet sales $ 12,784 $ 11,673 $ 11,362\nCost of sales 7,679 7,086 6,601\nGross margin 5,105 4,587 4,761\nSelling, general and administrative expenses 2,867 2,469 2,535\nResearch and development expenses 534 521 595\nOther operating income, net (6) (19) (141)\nOperating income 1,710 1,616 1,772\nInterest expense, net 192 134 71\nOther expense, net 41 190 731\nIncome before income taxes 1,477 1,292 970\nIncome tax expense (benefit) 182 182 (41)\nNet income 1,295 1,110 1,011\nNet income attributable to noncontrolling interests 11 8 10\nNet income attributable to Baxter stockholders $ 1,284 $ 1,102 $ 1,001\nEarnings per share\nBasic $ 2.56 $ 2.17 $ 1.97\nDiluted $ 2.53 $ 2.13 $ 1.93\nWeighted-average number of shares outstanding\nBasic 502 509 509\nDiluted 508 517 519\nThe accompanying notes are an integral part of these consolidated financial statements.\n48",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_revenue",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Net sales 12784m",
      "golden_context": "Page 52:\n\nCONSOLIDATED STATEMENTS OF INCOME\nyears ended December 31 (in millions, except per share data) 2021 2020 2019\nNet sales $ 12,784 $ 11,673 $ 11,362\nCost of sales 7,679 7,086 6,601\nGross margin 5,105 4,587 4,761\nSelling, general and administrative expenses 2,867 2,469 2,535\nResearch and development expenses 534 521 595\nOther operating income, net (6) (19) (141)\nOperating income 1,710 1,616 1,772\nInterest expense, net 192 134 71\nOther expense, net 41 190 731\nIncome before income taxes 1,477 1,292 970\nIncome tax expense (benefit) 182 182 (41)\nNet income 1,295 1,110 1,011\nNet income attributable to noncontrolling interests 11 8 10\nNet income attributable to Baxter stockholders $ 1,284 $ 1,102 $ 1,001\nEarnings per share\nBasic $ 2.56 $ 2.17 $ 1.97\nDiluted $ 2.53 $ 2.13 $ 1.93\nWeighted-average number of shares outstanding\nBasic 502 509 509\nDiluted 508 517 519\nThe accompanying notes are an integral part of these consolidated financial statements.\n48",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_revenue_growth",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 12784m, prior year 11673m",
      "golden_context": "Page 52:\n\nCONSOLIDATED STATEMENTS OF INCOME\nyears ended December 31 (in millions, except per share data) 2021 2020 2019\nNet sales $ 12,784 $ 11,673 $ 11,362\nCost of sales 7,679 7,086 6,601\nGross margin 5,105 4,587 4,761\nSelling, general and administrative expenses 2,867 2,469 2,535\nResearch and development expenses 534 521 595\nOther operating income, net (6) (19) (141)\nOperating income 1,710 1,616 1,772\nInterest expense, net 192 134 71\nOther expense, net 41 190 731\nIncome before income taxes 1,477 1,292 970\nIncome tax expense (benefit) 182 182 (41)\nNet income 1,295 1,110 1,011\nNet income attributable to noncontrolling interests 11 8 10\nNet income attributable to Baxter stockholders $ 1,284 $ 1,102 $ 1,001\nEarnings per share\nBasic $ 2.56 $ 2.17 $ 1.97\nDiluted $ 2.53 $ 2.13 $ 1.93\nWeighted-average number of shares outstanding\nBasic 502 509 509\nDiluted 508 517 519\nThe accompanying notes are an integral part of these consolidated financial statements.\n48",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000268_segments",
      "report_id": "ID_000268",
      "company_name": "Baxter",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific), and a new global segment for our recently\nacquired Hillrom business.",
      "golden_context": "Page 5:\n\nour acquisition of Hillrom, Hillrom was a global medical technology leader whose products and services help enable earlier diagnosis and\ntreatment, optimize surgical efficiency, and accelerate patient recovery while simplifying clinical communication and shifting care closer to home.\nHillrom made those outcomes possible through digital and connected care solutions and collaboration tools, including smart bed systems, patient\nmonitoring and diagnostic technologies, respiratory health devices, advanced equipment for the surgical space and more, delivering actionable, real-\ntime insights at the point of care.\nSee Note 2 and Note 5 in Item 8 of this Annual Report on Form 10-K for additional information about the Hillrom acquisition and related financing\narrangements.\nBusiness Segments and Products\nWe manage our global operations based on four segments, consisting of the following geographic segments related to our legacy Baxter business:\nAmericas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific), and a new global segment for our recently\nacquired Hillrom business.\nThe Americas, EMEA and APAC segments provide a broad portfolio of essential healthcare products, including acute and chronic dialysis therapies;\nsterile IV solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; and\nsurgical hemostat and sealant products. The Hillrom segment provides digital and connected care solutions and collaboration tools, including smart\nbed systems, patient monitoring and diagnostic technologies, respiratory health devices and advanced equipment for the surgical space.\nFor financial information about our segments, see Note 17 in Item 8 of this Annual Report on Form 10-K.\nSales and Distribution\nWe have our own direct sales force and also make sales to and through independent distributors, drug wholesalers acting as sales agents and\nspecialty pharmacy or other alternate site providers. In the United States, third parties, such as Cardinal Health, Inc., warehouse and ship a\nsignificant portion of our products through their distribution centers. These centers are generally stocked with adequate inventories to facilitate\nprompt customer service. Sales and distribution methods include frequent contact by sales and customer service representatives, automated\ncommunications via various electronic purchasing systems, circulation of catalogs and merchandising bulletins, direct-mail campaigns, trade\npublication presence and advertising.\nSales are made and products are distributed on a direct basis or through independent distributors or sales agents in more than 100 countries as of\nDecember 31, 2021.\nInternational Operations\nThe majority of our revenues are generated outside of the United States and geographic expansion remains a component of our strategy. Our\npresence includes operations in Europe, the Middle East, Africa, Asia-Pacific, Latin America and Canada. We are subject to certain risks inherent in\nconducting business outside the United States. For more information on these risks, see the information under the captions “Risks Related to\nBaxter’s Business —We are subject to risks associated with doing business globally” and “—Changes in foreign currency exchange rates and\ninterest rates could have a material adverse effect on our operating results and liquidity” in Item 1A of this Annual Report on Form 10-K.\nFor financial information about our foreign and domestic revenues and segment information, see Note 17 in Item 8 of this Annual Report on Form\n10-K. For more information regarding foreign currency exchange risk, refer to the discussion under the caption entitled “Financial Instrument Market\nRisk” in Item 7 of this Annual ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_cash_flow",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operations: 1211, investing: -931, financing: -1438",
      "golden_context": "Page 62:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nyears ended December 31 (in millions) 2022 2021 2020\nCash flows from operations\nNet income (loss) $ (2,421) $ 1,295 $ 1,110\nAdjustments to reconcile net income (loss) to net cash from operating activities:\nDepreciation and amortization 1,403 890 823\nPension settlement and curtailment (gains) losses (12) 2 46\nNet periodic pension benefit and other postretirement costs 51 99 81\nDeferred income taxes (225) (146) (88)\nStock compensation 154 146 130\nLosses on debt extinguishments —\n5 110\nIntangible asset impairments 344\n—\n17\nGoodwill impairments 2,812\n—\n—\nLoss on product divestiture arrangement 54\n—\n—\nReclassification of cumulative translation loss to earnings 65\n—\n—\nLoss on subsidiary liquidation 21\n—\n—\nSettlement of interest rate derivative contracts —\n—\n(173)\nOther (12) 92 86\nChanges in balance sheet items:\nAccounts receivable, net (146) (170) (119)\nInventories (361) (37) (162)\nPrepaid expenses and other current assets (39) (41) (37)\nAccounts payable (76) 104 57\nAccrued expenses and other current liabilities (273) 108 86\nOther (128) (125) (97)\nCash flows from operations – continuing operations 1,211 2,222 1,870\nCash flows from operations – discontinued operations —\n—\nCash flows from operations 1,211 2,222 1,868\nCash flows from investing activities\nCapital expenditures (679) (743) (709)\nAcquisitions, net of cash acquired, and investments (263) (10,502) (494)\nOther investing activities, net 11 45 24\nCash flows from investing activities (931) (11,200) (1,179)\nCash flows from financing activities\nIssuances of debt —\n11,903 1,885\nRepayments of debt (954) (2,823) (1,181)\nNet increase (decrease) in debt with original maturities of three months or less 55 246 (226)\nCash dividends on common stock (573) (530) (473)\nProceeds from stock issued under employee benefit plans 127 187 202\nPurchases of treasury stock (32) (600) (500)\nDebt issuance costs —\n(98) Other financing activities, net (61) (40) (47)\nCash flows from financing activities (1,438) 8,245 (345)\nEffect of foreign exchange rate changes on cash, cash equivalents and restricted cash (76) (47) 57\nIncrease (decrease) in cash, cash equivalents and restricted cash (1,234) (780) 401\nCash, cash equivalents and restricted cash at beginning of year (1)\n2,956 3,736 3,335\nCash, cash equivalents and restricted cash at end of year (1)\n$ 1,722 $ 2,956 $ 3,736\n(2)\n(5)\n(1)\nThe following table provides a reconciliation of cash, cash equivalents and restricted cash amounts as shown in the consolidated statement of\ncash flows to the amount reported in the consolidated balance sheet as of December 31, 2022, 2021, and 2020:\nAs of December 31 (in millions) 2022 2021 2020\nCash and cash equivalents $ 1,718 $ 2,951 $ 3,730\nRestricted cash included in prepaid expenses and other current assets 4 5 6\nCash, cash equivalents and restricted cash $ 1,722 $ 2,956 $ 3,736\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_company_type",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_____________________________________________________________________________________________\nFORM 10-K\n_____________________________________________________________________________________________\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission file number 1-4448\n_____________________________________________________________________________________________\nBaxter International Inc.\n(Exact Name of Registrant as Specified in its Charter)\n_____________________________________________________________________________________________\nDelaware 36-0781620\n(State or Other Jurisdiction of\n(I.R.S. Employer\nIncorporation or Organization)\nIdentification No.)\nOne Baxter Parkway, Deerfield, Illinois (Address of Principal Executive Offices) 60015\n(Zip Code)\nTitle of Each Class Common stock, $1.00 par value Registrant’s telephone number, including area code 224.948.2000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) BAX (NYSE) 0.4% Global Notes due 2024 1.3% Global Notes due 2025 1.3% Global Notes due 2029 BAX 24 BAX 25 BAX 29 Name of Each Exchange on Which Registered\nNew York Stock Exchange\nChicago Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_____________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_key_financials",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "EPS basic: -4.83, EPS diluted: -4.83",
      "golden_context": "Page 59:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2022 2021 2020\nNet sales $ 15,113 $ 12,784 $ 11,673\nCost of sales 9,716 7,679 7,086\nGross margin 5,397 5,105 4,587\nSelling, general and administrative expenses 3,887 2,867 2,469\nResearch and development expenses 605 534 521\nGoodwill impairments 2,812\n—\n—\nOther operating expense (income), net 36 (6) (19)\nOperating income (loss) (1,943) 1,710 1,616\nInterest expense, net 395 192 134\nOther (income) expense, net 15 41 190\nIncome (loss) before income taxes (2,353) 1,477 1,292\nIncome tax expense (benefit) 68 182 182\nNet income (loss) (2,421) 1,295 1,110\nNet income attributable to noncontrolling interests 12 11 8\nNet income (loss) attributable to Baxter stockholders $ (2,433) $ 1,284 $ 1,102\nEarnings (loss) per share\nBasic Diluted $ (4.83) $ 2.56 $ 2.17\n$ (4.83) $ 2.53 $ 2.13\nWeighted-average number of shares outstanding\nBasic 504 502 509\nDiluted 504 508 517\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_revenue",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "net sales 15113m",
      "golden_context": "Page 59:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2022 2021 2020\nNet sales $ 15,113 $ 12,784 $ 11,673\nCost of sales 9,716 7,679 7,086\nGross margin 5,397 5,105 4,587\nSelling, general and administrative expenses 3,887 2,867 2,469\nResearch and development expenses 605 534 521\nGoodwill impairments 2,812\n—\n—\nOther operating expense (income), net 36 (6) (19)\nOperating income (loss) (1,943) 1,710 1,616\nInterest expense, net 395 192 134\nOther (income) expense, net 15 41 190\nIncome (loss) before income taxes (2,353) 1,477 1,292\nIncome tax expense (benefit) 68 182 182\nNet income (loss) (2,421) 1,295 1,110\nNet income attributable to noncontrolling interests 12 11 8\nNet income (loss) attributable to Baxter stockholders $ (2,433) $ 1,284 $ 1,102\nEarnings (loss) per share\nBasic Diluted $ (4.83) $ 2.56 $ 2.17\n$ (4.83) $ 2.53 $ 2.13\nWeighted-average number of shares outstanding\nBasic 504 502 509\nDiluted 504 508 517\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_revenue_growth",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 15113m, prior year: 12784m",
      "golden_context": "Page 59:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2022 2021 2020\nNet sales $ 15,113 $ 12,784 $ 11,673\nCost of sales 9,716 7,679 7,086\nGross margin 5,397 5,105 4,587\nSelling, general and administrative expenses 3,887 2,867 2,469\nResearch and development expenses 605 534 521\nGoodwill impairments 2,812\n—\n—\nOther operating expense (income), net 36 (6) (19)\nOperating income (loss) (1,943) 1,710 1,616\nInterest expense, net 395 192 134\nOther (income) expense, net 15 41 190\nIncome (loss) before income taxes (2,353) 1,477 1,292\nIncome tax expense (benefit) 68 182 182\nNet income (loss) (2,421) 1,295 1,110\nNet income attributable to noncontrolling interests 12 11 8\nNet income (loss) attributable to Baxter stockholders $ (2,433) $ 1,284 $ 1,102\nEarnings (loss) per share\nBasic Diluted $ (4.83) $ 2.56 $ 2.17\n$ (4.83) $ 2.53 $ 2.13\nWeighted-average number of shares outstanding\nBasic 504 502 509\nDiluted 504 508 517\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000269_segments",
      "report_id": "ID_000269",
      "company_name": "Baxter",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific), and a global segment\nfor our recently acquired Hillrom business.",
      "golden_context": "Page 5:\n\nn December 13, 2021, we completed our acquisition of all outstanding equity interests of Hill-Rom Holdings, Inc. (Hillrom) for a purchase price\nof $10.5 billion. Including the assumption of Hillrom's outstanding debt obligations, the enterprise value of the transaction was approximately\n$12.8 billion. Hillrom was a global medical technology leader and its products and services help enable earlier diagnosis and treatment, optimize\nsurgical efficiency, and accelerate patient recovery while simplifying clinical communication and shifting care closer to home. Hillrom made those\noutcomes possible through digital and connected care solutions and collaboration tools, including smart bed systems, patient monitoring and\ndiagnostic technologies, respiratory health devices, advanced equipment for the surgical space and more, delivering actionable, real-time\ninsights at the point of care. In 2022 the Patient Support Systems, Front Line Care and Global Surgical Solutions product categories of our\nHillrom segment collectively generated net sales of $2.9 billion. During 2022, we also recognized $2.8 billion of goodwill impairments and $332\nmillion of indefinite-lived intangible asset impairments related to goodwill and trade name intangible assets that arose from the Hillrom\nacquisition. See Notes 2, 4, 5 and 17 in Item 8 of this Annual Report on Form 10-K for additional information about the Hillrom acquisition,\ngoodwill and intangible asset impairments, Hillrom acquisition financing arrangements and Hillrom segment results, respectively.\nBusiness Segments and Products\nWe currently manage our global operations based on four segments, consisting of the following geographic segments related to our legacy\nBaxter business: Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific), and a global segment\nfor our recently acquired Hillrom business. As discussed above under “Recently Announced Strategic Actions,\n” we are designing a new operating\nmodel intended to simplify and streamline our operations and we expect that our reportable segments will be changed to align with that new\noperating model when it is fully implemented.\nThe Americas, EMEA and APAC segments provide a broad portfolio of essential healthcare products, including acute and chronic dialysis\ntherapies; sterile IV solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable\npharmaceuticals; and surgical hemostat and sealant products. As discussed above under \"Recently Announced Strategic Actions,\n\" we are\npursuing the proposed spinoff of our Renal Care and Acute Therapies product categories and strategic alternatives for our BPS product\ncategory. The Hillrom segment provides digital and connected care solutions and collaboration tools, including smart bed systems, patient\nmonitoring and diagnostic technologies, respiratory health devices and advanced equipment for the surgical space.\nFor financial information about our segments, see Note 17 in Item 8 of this Annual Report on Form 10-K.\nBusiness Strategy\nOur business strategy is focused on driving sustainable growth and innovation aligned with our mission to save and sustain lives and our vision\nto transform healthcare with a customer focus to improve patient outcomes, enhance workflow efficiency, and enable cost-effective care. Our\ndiversified and broad portfolio of medical ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_cash_flow",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows from operations - continuing operations: 1702m, Cash flows from investing activities - continuing operations: -672m, Cash flows from financing activities: -3489m",
      "golden_context": "Page 55:\n\nd was primarily driven by royalty income from a business development arrangement entered into in March 2022.\nUnallocated Corporate Costs\nUnder our new operating model, most global functional support costs, overhead costs and other shared costs that benefit our segments are\nallocated to those segments. Corporate costs that are not allocated to our segments, as well as any differences between actual corporate costs\nand the amounts allocated to our segments, are presented as unallocated corporate costs. Additionally, intangible asset amortization and other\nspecial items are not allocated to our segments. Prior to the implementation of our new operating model in the third quarter of 2023, more costs\nwere maintained at corporate and were not allocated to our previous segments. Certain of the costs that were previously maintained at corporate\nunder our prior segment structure that are now allocated to our segments include manufacturing variances and centrally managed supply chain\ncosts, certain R&D costs, product category support costs, stock compensation expense and certain employee benefit plan costs.\nLIQUIDITY AND CAPITAL RESOURCES\nyears ended December 31 (in millions) 2023 2022 2021\nCash flows from operations - continuing operations $ 1,702 $ 1,031 $ 2,026\nCash flows from investing activities - continuing operations (672) (872) (11,148)\nCash flows from financing activities (3,489) (1,438) 8,245\nCash Flows from Operations — Continuing Operations\nIn 2023, 2022 and 2021, cash provided by operating activities from continuing operations was $1.70 billion, $1.03 billion and $2.03 billion,\nrespectively.\nOperating cash flows from continuing operations increased in 2023 compared to 2022 primarily due to a decrease in our net loss from continuing\noperations, lower annual payouts under our employee incentive compensation plans, which were based on our 2022 results, the timing of\naccounts payable payments and lower increases in inventory and accounts receivable balances as compared to the prior year.\nOperating cash flows from continuing operations decreased in 2022 compared to 2021 primarily due to our net loss from continuing operations,\nincreases in inventory levels and higher annual payouts under our employee incentive compensation plans, which were based on our 2021\nresults. Operating cash flows were als",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_company_type",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_____________________________________________________________________________________________\nFORM 10-K\n_____________________________________________________________________________________________\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission file number 1-4448\n_____________________________________________________________________________________________\nBaxter International Inc.\n(Exact Name of Registrant as Specified in its Charter)\n_____________________________________________________________________________________________\nDelaware 36-0781620\n(State or Other Jurisdiction of\n(I.R.S. Employer\nIncorporation or Organization)\nIdentification No.)\nOne Baxter Parkway, Deerfield, Illinois (Address of Principal Executive Offices) 60015\n(Zip Code)\nTitle of Each Class Common stock, $1.00 par value Registrant’s telephone number, including area code 224.948.2000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) BAX (NYSE) 0.4% Global Notes due 2024 1.3% Global Notes due 2025 1.3% Global Notes due 2029 BAX 24 BAX 25 BAX 29 Name of Each Exchange on Which Registered\nNew York Stock Exchange\nChicago Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_____________________________________________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that pr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_key_financials",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net sales 14813m, operating income 390m, net income per common share basic 5.25",
      "golden_context": "Page 70:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2023 2022 2021\nNet sales $ 14,813 $ 14,506 $ 12,146\nCost of sales 9,838 9,440 7,426\nGross margin 4,975 5,066 4,720\nSelling, general and administrative expenses 3,946 3,859 2,845\nResearch and development expenses 667 602 531\nGoodwill impairments —\n2,812\n—\nOther operating expense (income), net (28) 36 (6)\nOperating income (loss) 390 (2,243) 1,350\nInterest expense, net 442 395 193\nOther (income) expense, net 51 12 41\nIncome (loss) from continuing operations before income taxes (103) (2,650) 1,116\nIncome tax (benefit) expense (34) 4 83\nIncome (loss) from continuing operations (69) (2,654) 1,033\nIncome from discontinued operations, net of tax 2,732 233 262\nNet income (loss) 2,663 (2,421) 1,295\nNet income attributable to noncontrolling interests 7 12 11\nNet income (loss) attributable to Baxter stockholders $ 2,656 $ (2,433) $ 1,284\nIncome (loss) from continuing operations per common share\nBasic Diluted $ (0.15) $ (5.29) $ 2.04\n$ (0.15) $ (5.29) $ 2.01\nIncome from discontinued operations per common share\nBasic Diluted $ 5.40 $ 0.46 $ 0.52\n$ 5.40 $ 0.46 $ 0.52\nNet Income (loss) per common share\nBasic Diluted $ 5.25 $ (4.83) $ 2.56\n$ 5.25 $ (4.83) $ 2.53\nWeighted-average number of shares outstanding\nBasic 506 504 502\nDiluted 506 504 508\nThe accompanying notes are an integral part of these consolidated financial statements.\n66",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_revenue",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "net sales 14813m",
      "golden_context": "Page 70:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2023 2022 2021\nNet sales $ 14,813 $ 14,506 $ 12,146\nCost of sales 9,838 9,440 7,426\nGross margin 4,975 5,066 4,720\nSelling, general and administrative expenses 3,946 3,859 2,845\nResearch and development expenses 667 602 531\nGoodwill impairments —\n2,812\n—\nOther operating expense (income), net (28) 36 (6)\nOperating income (loss) 390 (2,243) 1,350\nInterest expense, net 442 395 193\nOther (income) expense, net 51 12 41\nIncome (loss) from continuing operations before income taxes (103) (2,650) 1,116\nIncome tax (benefit) expense (34) 4 83\nIncome (loss) from continuing operations (69) (2,654) 1,033\nIncome from discontinued operations, net of tax 2,732 233 262\nNet income (loss) 2,663 (2,421) 1,295\nNet income attributable to noncontrolling interests 7 12 11\nNet income (loss) attributable to Baxter stockholders $ 2,656 $ (2,433) $ 1,284\nIncome (loss) from continuing operations per common share\nBasic Diluted $ (0.15) $ (5.29) $ 2.04\n$ (0.15) $ (5.29) $ 2.01\nIncome from discontinued operations per common share\nBasic Diluted $ 5.40 $ 0.46 $ 0.52\n$ 5.40 $ 0.46 $ 0.52\nNet Income (loss) per common share\nBasic Diluted $ 5.25 $ (4.83) $ 2.56\n$ 5.25 $ (4.83) $ 2.53\nWeighted-average number of shares outstanding\nBasic 506 504 502\nDiluted 506 504 508\nThe accompanying notes are an integral part of these consolidated financial statements.\n66",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_revenue_growth",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 14813m, prior year net sales 14506m",
      "golden_context": "Page 70:\n\nCONSOLIDATED STATEMENTS OF INCOME (LOSS)\nyears ended December 31 (in millions, except per share data) 2023 2022 2021\nNet sales $ 14,813 $ 14,506 $ 12,146\nCost of sales 9,838 9,440 7,426\nGross margin 4,975 5,066 4,720\nSelling, general and administrative expenses 3,946 3,859 2,845\nResearch and development expenses 667 602 531\nGoodwill impairments —\n2,812\n—\nOther operating expense (income), net (28) 36 (6)\nOperating income (loss) 390 (2,243) 1,350\nInterest expense, net 442 395 193\nOther (income) expense, net 51 12 41\nIncome (loss) from continuing operations before income taxes (103) (2,650) 1,116\nIncome tax (benefit) expense (34) 4 83\nIncome (loss) from continuing operations (69) (2,654) 1,033\nIncome from discontinued operations, net of tax 2,732 233 262\nNet income (loss) 2,663 (2,421) 1,295\nNet income attributable to noncontrolling interests 7 12 11\nNet income (loss) attributable to Baxter stockholders $ 2,656 $ (2,433) $ 1,284\nIncome (loss) from continuing operations per common share\nBasic Diluted $ (0.15) $ (5.29) $ 2.04\n$ (0.15) $ (5.29) $ 2.01\nIncome from discontinued operations per common share\nBasic Diluted $ 5.40 $ 0.46 $ 0.52\n$ 5.40 $ 0.46 $ 0.52\nNet Income (loss) per common share\nBasic Diluted $ 5.25 $ (4.83) $ 2.56\n$ 5.25 $ (4.83) $ 2.53\nWeighted-average number of shares outstanding\nBasic 506 504 502\nDiluted 506 504 508\nThe accompanying notes are an integral part of these consolidated financial statements.\n66",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000270_segments",
      "report_id": "ID_000270",
      "company_name": "Baxter",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Medical Products and Therapies, Healthcare Systems and Technologies (formerly referred to as our Hillrom segment)",
      "golden_context": "Page 5:\n\nmplementation of New Operating Model and Resulting Segment Change\nOur reportable segments were previously comprised of the following geographic segments related to our legacy Baxter business: Americas\n(North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific), and a global segment for our Hillrom business. In\nthe third quarter of 2023, we completed the implementation of a new operating model intended to simplify and streamline our operations and\nbetter align our manufacturing and supply chain to our commercial activities. Under this new operating model, our business is comprised of four\nsegments: Medical Products and Therapies, Healthcare Systems and Technologies (formerly referred to as our Hillrom segment),\nPharmaceuticals and Kidney Care (which would become an independent publicly traded company following the completion of the proposed\nspinoff transaction). Our segment reporting was changed during the third quarter of 2023 to align with our new operating model and prior period\nsegment disclosures have been revised to reflect the new segments.\nSale of BPS Business\nOn September 29, 2023, we completed the sale of our BPS business and received cash proceeds of $3.96 billion from that transaction. The\nfinancial position, results of operations and cash flows of our BPS business, including the $2.88 billion pre-tax gain ($2.59 billion net of tax) from\nthe sale of that business and the related cash proceeds received, are reported as discontinued operations in the accompanying consolidated\nfinancial statements. We intend to use substantially all of the after-tax proceeds from this transaction to repay certain of our debt obligations,\nincluding $514 million of commercial paper borrowings and $2.28 billion of long-term debt that we repaid during the fourth quarter of 2023.\nAcquisition of Hillrom\nOn December 13, 2021, we completed our acquisition of all outstanding equity interests of Hill-Rom Holdings, Inc. (Hillrom) for a purchase price\nof $10.48 billion. Including the assumption of Hillrom's outstanding debt obligations, the enterprise value of the transaction was $12.84 billion.\nHillrom was a global medical technology leader and its products and services help enable earlier diagnosis and treatment, optimize surgical\nefficiency, and accelerate patient recovery while simplifying clinical communication and shifting care closer to home. Hillrom made those\noutcomes possible through digital and connected care solutions and collaboration tools, including smart bed systems, patient monitoring and\ndiagnostic technologies, respiratory health devices, advanced equipment for the surgical space and more, delivering actionable, real-time\ninsights at the point of care. In 2023 and 2022, our Healthcare Systems and Technologies segment generated net sales of $3.01 billion and\n$2.94 billion, respectively. During 2022, we also recognized $2.81 billion of goodwill impairments and $332 million of indefinite-lived intangible\nasset impairments related to goodwill and trade name intangible assets that arose from the Hillrom acquisition. See Notes 3, 5, 6 and 18 in Item\n8 of this Annual Report on Form 10-K for additional information ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_cash_flow",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating: 486m, investing: -933, financing: 431",
      "golden_context": "Page 29-30:\n\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n2022 2021 2020\n(in millions)\nCash flows from operating activities:\nNet income $686 $674 $624\nAdjustments to reconcile net income to net cash flows from operating activities:\nDepreciation and amortization 671 657 615\nDeferred tax expense (benefit) and tax credits 13 (78) (66)\nOther (18) 17 (2)\nOther changes in assets and liabilities:\nAccounts receivable (672) (530) (468)\nRegulatory assets (108) 51 (130)\nDerivative assets (61) (142) (7)\nAccounts payable 78 37 (3)\nRegulatory liabilities 22 (66) (113)\nDerivative liabilities 70 (17) (12)\nDeferred income taxes 4 193 171\nPension and other benefit obligations (97) (137) 27\nDAEC PPA amendment buyout payment — — (110)\nOther (102) (77) (25)\nNet cash flows from operating activities 486 582 501\nCash flows used for investing activities:\nConstruction and acquisition expenditures:\nUtility business (1,392) (1,070) (1,293)\nOther (92) (99) (73)\nCash receipts on sold receivables 598 502 458\nOther (47) (61) (43)\nNet cash flows used for investing activities (933) (728) (951)\nCash flows from financing activities:\nCommon stock dividends (428) (403) (377)\nProceeds from issuance of common stock, net 25 28 247\nPayments to redeem cumulative preferred stock of IPL — (200) —\nProceeds from issuance of long-term debt 1,338 600 1,250\nPayments to retire long-term debt (633) (8) (657)\nNet change in commercial paper 127 126 52\nContributions from noncontrolling interest 29 — —\nDistributions to noncontrolling interest (29) — —\nOther 2 (13) (27)\nNet cash flows from financing activities 431 130 488\nNet increase (decrease) in cash, cash equivalents and restricted cash (16) (16) 38\nCash, cash equivalents and restricted cash at beginning of period 40 56 18\nCash, cash equivalents and restricted cash at end of period $24 $40 $56\nSupplemental cash flows information:\nCash (paid) refunded during the period for:\nInterest ($311) ($272) ($274)\nIncome taxes, net ($6) ($3) $5\nSignificant non-cash investing and financing activities:\nAccrued capital expenditures $382 $141 $131\nBeneficial interest obtained in exchange for securitized accounts receivable $185 $214 $188\nRefer to accompanying Notes to Consolidated Financial Statements.\n27\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF EQUITY\nTotal Alliant Energy Common Equity\nAccumulated Shares in Cumulative\nAdditional Other Deferred Preferred\nCommon Paid-In Retained Comprehensive Compensation Stock Noncontrolling Total\nStock Capital Earnings Income (Loss) Trust of IPL Interest Equity\n(in millions)\n2020:\nBeginning balance $2 $2,446 $2,766 $1 ($10) $200 $— $5,405\nNet income attributable to Alliant\nEnergy common shareowners 614 614\nCommon stock dividends ($1.52 per\nshare) (377) (377)\nEquity forward settlements and\nShareowner Direct Plan issuances 247 247\nEquity-based compensation plans\nand other 11 (1) 10\nAdoption of new accounting\nstandard, net of tax (refer to Note\n1(l)) (9) (9)\nOther comprehensive loss, net of tax (2) (2)\nEnding balance 2 2,704 2,994 (1) (11) 200 — 5,888\n2021:\nNet income attributable to Alliant\nEnergy common shareowners 659 659\nCommon stock dividends ($1.61 per\nshare) (403) (403)\nShareowner Direct Plan issuances 1 27 28\nEquity-based compensation plans\nand other 18 (1) 17\nRedemption of IPL’s cumulative\npreferred stock (200) (200)\nOther comprehensive income, net of\ntax 1 1\nEnding balance 3 2,749 3,250 — (12) — — 5,990\n2022:\nNet income attributable to Alliant\nEnergy common shareowners 686 686\nCommon stock dividends ($1.71\nper share) (428) (428)\nShareowner Direct Plan issuances 25 25\nEquity-based compensation plans\nand other 3 1 (1) 3\nContributions from noncontrolling\ninterest 29 29\nDistributions to noncontrolling\ninterest (29) (29)\nEnding balance $3 $2,777 $3,509 $— ($13) $— $— $6,276\nRefer to accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_company_type",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 2:\n\nWho we are\nAlliant Energy Corporation\n(NASDAQ: LNT) is a Midwest\nU.S. energy company with annual\noperating revenues of more than $4.2 billion. Our company is\nprimarily engaged in electric generation and the distribution of\nDividends per share\nelectricity and natural gas. We serve approximately 995,000\nelectric and 425,000 natural gas customers through our two\npublic utility subsidiaries, Interstate Power and Light (IPL) and\n$200\nWisconsin Power and Light (WPL). IPL provides retail electric\nand gas service in Iowa, and sells electricity to wholesale\n$150\ncustomers in Minnesota, Illinois and Iowa. WPL provides retail\n$1.42\n$1.52 $1.61\n$1.71\n$1.81\n$100\nand wholesale electric and ret",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_key_financials",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating income: 928m, weighted average number of common shares outstanding basic: 250.9m",
      "golden_context": "Page 27:\n\nCONSOLIDATED FINANCIAL STATEMENTS\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\nYear Ended December 31,\n2022 2021 2020\n(in millions, except per share amounts)\nRevenues:\nElectric utility $3,421 $3,081 $2,920\nGas utility 642 456 373\nOther utility 49 49 49\nNon-utility 93 83 74\nTotal revenues 4,205 3,669 3,416\nOperating expenses:\nElectric production fuel and purchased power 830 642 652\nElectric transmission service 573 537 449\nCost of gas sold 389 258 182\nOther operation and maintenance 704 676 670\nDepreciation and amortization 671 657 615\nTaxes other than income taxes 110 104 108\nTotal operating expenses 3,277 2,874 2,676\nOperating income 928 795 740\nOther (income) and deductions:\nInterest expense 325 277 275\nEquity income from unconsolidated investments, net (51) (62) (61)\nAllowance for funds used during construction (60) (25) (55)\nOther 6 5 14\nTotal other (income) and deductions 220 195 173\nIncome before income taxes 708 600 567\nIncome tax expense (benefit) 22 (74) (57)\nNet income 686 674 624\nPreferred dividend requirements of Interstate Power and Light Company — 15 10\nNet income attributable to Alliant Energy common shareowners $686 $659 $614\nWeighted average number of common shares outstanding:\nBasic 250.9 250.2 248.4\nDiluted 251.2 250.7 248.7\nEarnings per weighted average common share attributable to Alliant Energy common\nshareowners (basic and diluted) $2.73 $2.63 $2.47\nRefer to accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_revenue",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "revenues 3421m",
      "golden_context": "Page 60:\n\nnues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or\nmore of Alliant Energy’s consolidated revenues. All of Alliant Energy’s operations and assets are located in the U.S. Certain\nfinancial information relating to Alliant Energy’s business segments, which represent the services provided to its customers,\nwas as follows (in millions):\nATC Holdings,\nUtility Non-utility, Alliant Energy\nElectric Gas Other Total Parent and Other Consolidated\n2022 Revenues $3,421 $642 $49 $4,112 $93 $4,205\nDepreciation and amortization 601 56 7 664 7 671\nOperating income 805 97 3 905 23 928\nInterest expense 269 56 325\nEquity income from unconsolidated investments, net (1) — — (1) (50) (51)\nIncome taxes 16 6 22\nNet income attributable to Alliant Energy common\nshareowners 675 11 686\nTotal assets 16,571 1,631 860 19,062 1,101 20,163\nInvestments in equity method subsidiaries 20 — — 20 522 542\nConstruction and acquisition expenditures 1,318 74 — 1,392 92 1,484",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_revenue_growth",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 4205m, prior year 3669m                                                                                               \n                                   ",
      "golden_context": "Page 60:\n\nnues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or\nmore of Alliant Energy’s consolidated revenues. All of Alliant Energy’s operations and assets are located in the U.S. Certain\nfinancial information relating to Alliant Energy’s business segments, which represent the services provided to its customers,\nwas as follows (in millions):\nATC Holdings,\nUtility Non-utility, Alliant Energy\nElectric Gas Other Total Parent and Other Consolidated\n2022 Revenues $3,421 $642 $49 $4,112 $93 $4,205\nDepreciation and amortization 601 56 7 664 7 671\nOperating income 805 97 3 905 23 928\nInterest expense 269 56 325\nEquity income from unconsolidated investments, net (1) — — (1) (50) (51)\nIncome taxes 16 6 22\nNet income attributable to Alliant Energy common\nshareowners 675 11 686\nTotal assets 16,571 1,631 860 19,062 1,101 20,163\nInvestments in equity method subsidiaries 20 — — 20 522 542\nConstruction and acquisition expenditures 1,318 74 — 1,392 92 1,484\n\n\n\n\nPage 46:\n\nDisaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as\nfollows (in millions):\nAlliant Energy IPL WPL\n2022 2021 2020 2022 2021 2020 2022 2021 2020\nElectric Utility:\nRetail - residential $1,233 $1,115 $1,093 $673 $620 $602 $560 $495 $491\nRetail - commercial 821 763 718 536 508 474 285 255 244\nRetail - industrial 965 893 841 538 505 488 427 388 353\nWholesale 233 187 168 64 57 57 169 130 111\nBulk power and other 169 123 100 48 62 74 121 61 26\nTotal Electric Utility 3,421 3,081 2,920 1,859 1,752 1,695 1,562 1,329 1,225\nGas Utility:\nRetail - residential 371 257 214 202 146 116 169 111 98\nRetail - commercial 197 139 107 101 79 59 96 60 48\nRetail - industrial 20 17 12 14 12 8 6 5 4\nTransportation/other 54 43 40 34 28 25 20 15 15\nTotal Gas Utility 642 456 373 351 265 208 291 191 165\nOther Utility:\nSteam 39 36 36 39 36 36 — — —\nOther utility 10 13 13 7 10 8 3 3 5\nTotal Other Utility 49 49 49 46 46 44 3 3 5\nNon-Utility and Other:\nTravero and other 93 83 74 — — — — — —\nTotal Non-Utility and Other 93 83 74 — — — — — —\nTotal revenues $4,205 $3,669 $3,416 $2,256 $2,063 $1,947 $1,856 $1,523 $1,395\n(in millions):\nNOTE 12. INCOME TAXES\nIncome Tax Expense (Benefit) - The components of “Income tax expense (benefit)” in the income statements were as follows\nAlliant Energy IPL WPL\n2022 2021 2020 2022 2021 2020 2022 2021 2020\nCurrent tax expense (benefit):\nFederal $7 $1 $1 ($29) ($21) $6 $46 $22 ($11)\nState 2 3 8 (8) (1) (1) 16 6 7\nDeferred tax expense (benefit):\nFederal 109 9 22 91 73 30 10 (7\n\n\nTotal revenues 4,205 3,669 3,416   ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000272_segments",
      "report_id": "ID_000272",
      "company_name": "Alliant Energy",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Utility and ATC Holdings, Non-utility, Parent and Other",
      "golden_context": "Page 60:\n\nuity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may\nresult in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the\nAugust 2022 court decision, Alliant Energy recorded a $6 million reduction in “Equity income from unconsolidated investments”\nin its income statement in 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO\ntransmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future\nearnings and customer costs.\nNOTE 18. SEGMENTS OF BUSINESS\nAlliant Energy - Alliant Energy’s principal businesses as of December 31, 2022 are:\n• Utility - includes the operations of IPL and WPL, which primarily serve retail customers in Iowa and Wisconsin. The utility\nbusiness has three reportable segments: a) utility electric operations; b) utility gas operations; and c) utility other, which\nincludes steam operations and the unallocated portions of the utility business. Various line items in the following tables\nare not allocated to the electric and gas segments for management reporting purposes, and therefore, are included only in\n“Total Utility.”\n• ATC Holdings, Non-utility, Parent and Other - includes the operations of AEF and its subsidiaries, Corporate Services,\nthe Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. AEF is comprised\nof Alliant Energy’s interest in ATC Holdings, Travero, a non-utility wind farm, corporate venture investments, the\nSheboygan Falls Energy Facility and other non-utility holdings.\nAlliant Energy’s administrative support services are directly charged to the applicable segment where practicable. In all other\ncases, administrative support services are allocated to the applicable segment based on services agreements. Intersegment\nrevenues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or\nmore of Alliant Energy’s consolidated revenues. All of Alliant Energy’s operations and assets are located in the U.S. Certain\nfinancial information relating to \n\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_cash_flow",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating: 867m, investing: -1401m, financing: 573m",
      "golden_context": "Page 17:\n\nerally provides IPL and WPL a return of and a return on the assets used to provide such\nservices. Capital needed to retire debt and fund capital expenditures related to large strategic projects is expected to be met\nprimarily through external financings.\nCash Flows - Selected cash flows information was as follows (in millions):\nAlliant Energy IPL WPL\n2023 2022 2023 2022 2023 2022\nCash, cash equivalents and restricted cash, January 1 $24 $40 $15 $34 $5 $2\nCash flows from (used for):\nOperating activities 867 486 261 83 578 299\nInvesting activities (1,401) (933) (326) 215 (946) (1,033)\nFinancing activities 573 431 103 (317) 370 737\nNet increase (decrease) 39 (16) 38 (19) 2 Cash, cash equivalents and restricted cash, December 31 $63 $24 $53 $15 $7 $5\n3\nOperating Activities - The following items contributed to increased (decreased) operating activity cash flows for 2023\ncompared to 2022 (in millions):\nAlliant Energy IPL WPL\nTiming of WPL’s fuel-related cost recoveries from retail electric customers $200 $— $200\nChanges in gas stored underground 104 45 59\nChanges in income taxes paid/refunded 94 81 6\nChanges in the sales of accounts receivable at IPL 85 85 —\nLower (higher) contributions to qualified defined benefit pension plans 38 50 (12)\nTiming of intercompany payments and receipts — 28 35\nChanges in interest payments (67) (2) (35)\nDecreased collections from IPL’s and WPL’s retail customers caused by temperature impacts\non electric and gas sales (53) (30) (23)\nChanges in cash collateral and deposit balances at Corporate Services (33) — —\nOther (primarily due to other changes in working capital) 13 (79) 49\n$381 $178 $279\nIncome Tax Payments and Refunds - Income tax (payments) refunds were as follows (in millions):\n2023 2022\nIPL $117 $36\nWPL (50) (56)\nOther subsidiaries 21 14\nAlliant Energy $88 ($6)\nAlliant Energy, IPL and WPL currently do not expect to make any significant federal income tax payments over the next few\nyears based on their current credit carryforward positions; howe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_company_type",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 2:\n\nstions not answered during the meeting\nwill have answers posted on our webpage at\nalliantenergy.com/investors.\nThe meeting will be virtual only. Please note\nthat if you choose to listen by phone,\nyou will not be able to vote or\nask questions during the actual\nmeeting.\nWho we are\nAlliant Energy Corporation\n(NASDAQ: LNT) is a Midwest\nU.S. energy company with annual operating revenues of more\nthan $4 billion. Our company is primarily engaged in electric\ngeneration and the distribution of electricity and natural gas. We\nDividends per share\nserve approximately 1,000,000 electric and 425,000 natural gas\ncustomers through our two public utility subsidiaries, Interstate\nPower and Light (IPL) and Wisconsin Power and Light (WPL).\n$200\nIPL provides retail electric and gas service in Iowa, and sells\n$1.92\nelectricity to wholesale customers in Minnesota, Illinois and\n$150\nIowa. WPL provides retail and wholesale electric and retail gas\n$1.52\n$1.61 $1.71\n$1.81\nservice in Wisconsin.\n$100\n$50\n$0\nHead",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_key_financials",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 4027m, operating income: 943m, net income 703m",
      "golden_context": "Page 28:\n\nCONSOLIDATED FINANCIAL STATEMENTS\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\nYear Ended December 31,\n2023 2022 2021\nRevenues:\n(in millions, except per share amounts)\nElectric utility $3,345 $3,421 $3,081\nGas utility Other utility 540 52 642 49 456\n49\nNon-utility 90 93 83\nTotal revenues 4,027 4,205 3,669\nOperating expenses:\nElectric production fuel and purchased power 736 830 642\nElectric transmission service 583 573 537\nCost of gas sold 299 389 258\nOther operation and maintenance 675 704 676\nDepreciation and amortization 676 671 657\nTaxes other than income taxes 115 110 104\nTotal operating expenses 3,084 3,277 2,874\nOperating income 943 928 795\nOther (income) and deductions:\nInterest expense 394 325 277\nEquity income from unconsolidated investments, net (61) (51) (62)\nAllowance for funds used during construction (100) (60) (25)\nOther 3 6 Total other (income) and deductions 236 220 195\nIncome before income taxes 707 708 600\nIncome tax expense (benefit) 4 22 (74)\nNet income 703 686 674\nPreferred dividend requirements of Interstate Power and Light Company — — 15\nNet income attributable to Alliant Energy common shareowners $703 $686 $659\nWeighted average number of common shares outstanding:\nBasic 253.0 250.9 250.2\nDiluted 253.3 251.2 250.7\nEarnings per weighted average common share attributable to Alliant Energy common\nshareowners (basic and diluted) $2.78 $2.73 $2.63\n5\nRefer to accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_revenue",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "4027m",
      "golden_context": "Page 28:\n\nCONSOLIDATED FINANCIAL STATEMENTS\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\nYear Ended December 31,\n2023 2022 2021\nRevenues:\n(in millions, except per share amounts)\nElectric utility $3,345 $3,421 $3,081\nGas utility Other utility 540 52 642 49 456\n49\nNon-utility 90 93 83\nTotal revenues 4,027 4,205 3,669\nOperating expenses:\nElectric production fuel and purchased power 736 830 642\nElectric transmission service 583 573 537\nCost of gas sold 299 389 258\nOther operation and maintenance 675 704 676\nDepreciation and amortization 676 671 657\nTaxes other than income taxes 115 110 104\nTotal operating expenses 3,084 3,277 2,874\nOperating income 943 928 795\nOther (income) and deductions:\nInterest expense 394 325 277\nEquity income from unconsolidated investments, net (61) (51) (62)\nAllowance for funds used during construction (100) (60) (25)\nOther 3 6 Total other (income) and deductions 236 220 195\nIncome before income taxes 707 708 600\nIncome tax expense (benefit) 4 22 (74)\nNet income 703 686 674\nPreferred dividend requirements of Interstate Power and Light Company — — 15\nNet income attributable to Alliant Energy common shareowners $703 $686 $659\nWeighted average number of common shares outstanding:\nBasic 253.0 250.9 250.2\nDiluted 253.3 251.2 250.7\nEarnings per weighted average common share attributable to Alliant Energy common\nshareowners (basic and diluted) $2.78 $2.73 $2.63\n5\nRefer to accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_revenue_growth",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "4027m, prior year 4205m",
      "golden_context": "Page 28:\n\nCONSOLIDATED FINANCIAL STATEMENTS\nALLIANT ENERGY CORPORATION\nCONSOLIDATED STATEMENTS OF INCOME\nYear Ended December 31,\n2023 2022 2021\nRevenues:\n(in millions, except per share amounts)\nElectric utility $3,345 $3,421 $3,081\nGas utility Other utility 540 52 642 49 456\n49\nNon-utility 90 93 83\nTotal revenues 4,027 4,205 3,669\nOperating expenses:\nElectric production fuel and purchased power 736 830 642\nElectric transmission service 583 573 537\nCost of gas sold 299 389 258\nOther operation and maintenance 675 704 676\nDepreciation and amortization 676 671 657\nTaxes other than income taxes 115 110 104\nTotal operating expenses 3,084 3,277 2,874\nOperating income 943 928 795\nOther (income) and deductions:\nInterest expense 394 325 277\nEquity income from unconsolidated investments, net (61) (51) (62)\nAllowance for funds used during construction (100) (60) (25)\nOther 3 6 Total other (income) and deductions 236 220 195\nIncome before income taxes 707 708 600\nIncome tax expense (benefit) 4 22 (74)\nNet income 703 686 674\nPreferred dividend requirements of Interstate Power and Light Company — — 15\nNet income attributable to Alliant Energy common shareowners $703 $686 $659\nWeighted average number of common shares outstanding:\nBasic 253.0 250.9 250.2\nDiluted 253.3 251.2 250.7\nEarnings per weighted average common share attributable to Alliant Energy common\nshareowners (basic and diluted) $2.78 $2.73 $2.63\n5\nRefer to accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000273_segments",
      "report_id": "ID_000273",
      "company_name": "Alliant Energy",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Utility and ATC Holdings, Non-utility, Parent and Other",
      "golden_context": "Page 60:\n\nNOTE 17(g) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO\ncooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity\nauthorized for MISO transmission owners, including ITC and ATC. In 2019, FERC issued an order on the previously filed\ncomplaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12,\n2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to\nvarious rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88%\nto 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2022, the U.S.\nCourt of Appeals for the District of Columbia vacated FERC’s prior orders that established the base return on equity authorized\nfor the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional\nchanges to the base return on equity authorized for the MISO transmission owners. As a result of the 2022 court decision,\nAlliant Energy recorded a $6 million reduction in “Equity income from unconsolidated investments” in its income statement in\n2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further\nchanges in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.\nNOTE 17(h) Collective Bargaining Agreements - At December 31, 2023, employees covered by collective bargaining\nagreements represented 53%, 69% and 83% of total employees of Alliant Energy, IPL and WPL, respectively. In August 2024,\nIPL’s collective bargaining agreement with International Brotherhood of Electrical Workers Local 204 (Cedar Rapids) expires,\nrepresenting 18% and 53% of total employees of Alliant Energy and IPL, respectively.\nNOTE 18. SEGMENTS OF BUSINESS\nAlliant Energy - Alliant Energy’s principal businesses as of December 31, 2023 are:\n• Utility - includes the operations of IPL and WPL, which primarily serve retail customers in Iowa and Wisconsin. The utility\nbusiness has three reportable segments: a) utility electric operations; b) utility gas operations; and c) utility other, which\nincludes steam operations and the unallocated portions of the utility business. Various line items in the following tables\nare not allocated to the electric and gas segments for management reporting purposes, and therefore, are included only in\n“Total Utility.”\n• ATC Holdings, Non-utility, Parent and Other - includes the operations of AEF and its subsidiaries, Corporate Services,\nthe Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. AEF is comprised\nof Alliant Energy’s interest in ATC Holdings, Travero, a non-utility wind farm, corporate venture investments, the\nSheboygan Falls Energy Facility and other non-utility holdings.\n58\nAlliant Energy’s administrative support services are directly charged to the applicable segment where practicable. In all other\ncases, administrative support services are allocated to the applicable segment based on services agreements. Intersegment\nrevenues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or\nmore of Alliant Energy’s consolidated revenues. All of Alliant Energy’s operations and assets are located in the U.S. Certain\nfinancial information relating to Alliant Energy’s business segments, which represent the services provided to its customers,\nwas as follows (in millions):\n2023 ATC Holdings,\nUtility Non-utility, Alliant Energy\nElectric Gas Other Total Parent and Other Consolidated\nRevenues $3,345 $540 $52 $3,937 $90 $4,027\nDepreciation and amortization",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_cash_flow",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3833342k, investing: -3868964k, financing: 674193k",
      "golden_context": "Page 97:\n\nEVEREST RE GROUP, LTD.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n3,892,918 1,915,916 Years Ended December 31,\n(Dollars in thousands) 2021 2020 2019\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet income (loss) $ 1,379,083 $ 514,151 $ 1,009,461\nAdjustments to reconcile net income to net cash provided by operating activities:\nDecrease (increase) in premiums receivable (648,735) (387,123) (62,018)\nDecrease (increase) in funds held by reinsureds, net (151,028) (219,321) (56,722)\nDecrease (increase) in reinsurance recoverables (124,796) (150,753) 67,444\nDecrease (increase) in income taxes 68,148 239,883 237,479\nDecrease (increase) in prepaid reinsurance premiums (127,792) 55,334 (95,207)\nIncrease (decrease) in reserve for losses and loss adjustment expenses 2,805,064 2,631,016 343,254\nIncrease (decrease) in future policy benefit reserve (2,054) (4,869) (4,186)\nIncrease (decrease) in unearned premiums 1,145,512 404,049 521,709\nIncrease (decrease) in other net payable to reinsurers 185,764 (24,163) 66,477\nIncrease (decrease) in losses in course of payment 133,700 74,759 (33,557)\nChange in equity adjustments in limited partnerships (612,569) (103,772) (108,332)\nDistribution of limited partnership income 211,367 122,326 81,300\nChange in other assets and liabilities, net (289,562) (99,171) 4,950\nNon-cash compensation expense 43,406 39,209 34,018\nAmortization of bond premium (accrual of bond discount) 75,777 49,673 30,936\nNet realized capital (gains) losses (257,943) (267,649) (185,004)\nNet cash provided by (used in) operating activities 3,833,342 2,873,579 1,852,002\nCASH FLOWS FROM INVESTING ACTIVITIES:\nProceeds from fixed maturities matured/called - available for sale, at market value 2,586,405 2,302,299\nProceeds from fixed maturities sold - available for sale, at market value 1,945,867 3,280,237\nProceeds from fixed maturities sold - available for sale, at fair value - 4,907 2,917\nProceeds from equity securities sold, at fair value 990,376 376,347 283,965\nDistributions from other invested assets 257,233 309,912 284,558\nCost of fixed maturities acquired - available for sale, at market value (8,825,315) (7,189,301) (6,613,917)\nCost of fixed maturities acquired - available for sale, at fair value - - (4,243)\nCost of equity securities acquired, at fair value (1,097,886) (637,082) (329,417)\nCost of other invested assets acquired (756,560) (557,473) (425,438)\nNet change in short-term investments (42,630) (717,527) (167,290)\nNet change in unsettled securities transactions (203,016) 194,574 (26,163)\nNet cash provided by (used in) investing activities (3,868,964) (3,683,371) (1,412,492)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nCommon shares issued during the period for share-based compensation, net of expense (14,275) (13,566) (3,134)\nPurchase of treasury shares (225,136) (200,020) (24,604)\nDividends paid to shareholders (246,699) (249,097) (234,322)\nProceeds from issuance of senior notes 968,357 979,417 -\nCost of debt repurchase - (10,647) -\nFHLB advances (repayments) 209,000 310,000 -\nCost of shares withheld on settlements of share-based compensation awards (17,054) (15,908) (13,627)\nNet cash provided by (used in) financing activities 674,193 800,220 (275,687)\nEFFECT OF EXCHANGE RATE CHANGES ON CASH 639 3,187 (11,882)\nNet increase (decrease) in cash 639,210 (6,385) 151,941\nCash, beginning of period 801,651 808,036 656,095\nCash, end of period $ 1,440,861 $ 801,651 $ 808,036\nSUPPLEMENTAL CASH FLOW INFORMATION:\nIncome taxes paid (recovered) $ 98,030 $ (169,748) (148,585)\nInterest paid 62,369 28,415 31,689\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_company_type",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 2:\n\nEverest Re Group, Ltd.\nFinancial highlights (as of December 31, 2021)\n(in millions, except per share data) 2021 2020 2019 2018 2017\nBalance sheet\nCash and investments Shareholders' equity Book value per common share $ 29,673.3 $ 25,461.6 $ 20,748.5 $ 18,433.1 $ 18,626.5\n10,139.2 9,726.2 9,132.9 7,860.8 8,340.7\n$ 258.21 $ 243.25 $ 223.85 $ 193.37 $ 204.25\nResults\nGross written premiums $ 13,049.8 $ 10,482.4 $ 9,133.4 $ 8,475.2 $ 7,173.9\nNet investment income 1,164.9 642.5 647.1 581.2 542.9\nAfter-tax operating income 1,153.9 300.1 872.4 190.7 412.6\nper diluted common share $ 28.97 $ 7.46 21.34 4.65 $ 10.00\nNet income 1,379.1 514.2 1,009.5 89.0 482.8\nper diluted common share $ 34.62 $ 12.78 $ 24.70 $ 2.17 $ 11.70\nDividends declared 6.20 6.20 5.75 5.30 5.05\nFinancial ratios\nCombined ratio 97.8% 102.9% 95.5 % 108.8% 103.5%\nAttritional combined ratio* 87.6% 87.5% 88.4 % 87.0% 85.0%\nAfter-tax operating return on average\nadjusted equity 12.2% 3.4% 10.3 % 2.3% 5.1%\nNet income return on average equity 14.6% 5.8% 12.0 % 1.1% 5.8%\n*\n_x0007_ Excluding catastrophe losses, reinstatement premiums, COVID-19 pandemic impact, and prior year development.\n_x0007_ The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income\n(loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense), and the tax charge related to the enactment of the Tax Cuts and Jobs Act\nof 2017 (TCJA). Further explanation and a reconciliation of net income (loss) to after-tax operating income (loss) can be found at the back of the 10-K insert.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_key_financials",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "gross written premiums 13048.8, net investment income 1164.9m, net income 1379.1m",
      "golden_context": "Page 2:\n\nEverest Re Group, Ltd.\nFinancial highlights (as of December 31, 2021)\n(in millions, except per share data) 2021 2020 2019 2018 2017\nBalance sheet\nCash and investments Shareholders' equity Book value per common share $ 29,673.3 $ 25,461.6 $ 20,748.5 $ 18,433.1 $ 18,626.5\n10,139.2 9,726.2 9,132.9 7,860.8 8,340.7\n$ 258.21 $ 243.25 $ 223.85 $ 193.37 $ 204.25\nResults\nGross written premiums $ 13,049.8 $ 10,482.4 $ 9,133.4 $ 8,475.2 $ 7,173.9\nNet investment income 1,164.9 642.5 647.1 581.2 542.9\nAfter-tax operating income 1,153.9 300.1 872.4 190.7 412.6\nper diluted common share $ 28.97 $ 7.46 21.34 4.65 $ 10.00\nNet income 1,379.1 514.2 1,009.5 89.0 482.8\nper diluted common share $ 34.62 $ 12.78 $ 24.70 $ 2.17 $ 11.70\nDividends declared 6.20 6.20 5.75 5.30 5.05\nFinancial ratios\nCombined ratio 97.8% 102.9% 95.5 % 108.8% 103.5%\nAttritional combined ratio* 87.6% 87.5% 88.4 % 87.0% 85.0%\nAfter-tax operating return on average\nadjusted equity 12.2% 3.4% 10.3 % 2.3% 5.1%\nNet income return on average equity 14.6% 5.8% 12.0 % 1.1% 5.8%\n*\n_x0007_ Excluding catastrophe losses, reinstatement premiums, COVID-19 pandemic impact, and prior year development.\n_x0007_ The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income\n(loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense), and the tax charge related to the enactment of the Tax Cuts and Jobs Act\nof 2017 (TCJA). Further explanation and a reconciliation of net income (loss) to after-tax operating income (loss) can be found at the back of the 10-K insert.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_revenue",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "11866263m",
      "golden_context": "Page 2:\n\nEverest Re Group, Ltd.\nFinancial highlights (as of December 31, 2021)\n(in millions, except per share data) 2021 2020 2019 2018 2017\nBalance sheet\nCash and investments Shareholders' equity Book value per common share $ 29,673.3 $ 25,461.6 $ 20,748.5 $ 18,433.1 $ 18,626.5\n10,139.2 9,726.2 9,132.9 7,860.8 8,340.7\n$ 258.21 $ 243.25 $ 223.85 $ 193.37 $ 204.25\nResults\nGross written premiums $ 13,049.8 $ 10,482.4 $ 9,133.4 $ 8,475.2 $ 7,173.9\nNet investment income 1,164.9 642.5 647.1 581.2 542.9\nAfter-tax operating income 1,153.9 300.1 872.4 190.7 412.6\nper diluted common share $ 28.97 $ 7.46 21.34 4.65 $ 10.00\nNet income 1,379.1 514.2 1,009.5 89.0 482.8\nper diluted common share $ 34.62 $ 12.78 $ 24.70 $ 2.17 $ 11.70\nDividends declared 6.20 6.20 5.75 5.30 5.05\nFinancial ratios\nCombined ratio 97.8% 102.9% 95.5 % 108.8% 103.5%\nAttritional combined ratio* 87.6% 87.5% 88.4 % 87.0% 85.0%\nAfter-tax operating return on average\nadjusted equity 12.2% 3.4% 10.3 % 2.3% 5.1%\nNet income return on average equity 14.6% 5.8% 12.0 % 1.1% 5.8%\n*\n_x0007_ Excluding catastrophe losses, reinstatement premiums, COVID-19 pandemic impact, and prior year development.\n_x0007_ The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income\n(loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense), and the tax charge related to the enactment of the Tax Cuts and Jobs Act\nof 2017 (TCJA). Further explanation and a reconciliation of net income (loss) to after-tax operating income (loss) can be found at the back of the 10-K insert.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_revenue_growth",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "11'866'263m, prior year 9'598'114m",
      "golden_context": "Page 2:\n\nEverest Re Group, Ltd.\nFinancial highlights (as of December 31, 2021)\n(in millions, except per share data) 2021 2020 2019 2018 2017\nBalance sheet\nCash and investments Shareholders' equity Book value per common share $ 29,673.3 $ 25,461.6 $ 20,748.5 $ 18,433.1 $ 18,626.5\n10,139.2 9,726.2 9,132.9 7,860.8 8,340.7\n$ 258.21 $ 243.25 $ 223.85 $ 193.37 $ 204.25\nResults\nGross written premiums $ 13,049.8 $ 10,482.4 $ 9,133.4 $ 8,475.2 $ 7,173.9\nNet investment income 1,164.9 642.5 647.1 581.2 542.9\nAfter-tax operating income 1,153.9 300.1 872.4 190.7 412.6\nper diluted common share $ 28.97 $ 7.46 21.34 4.65 $ 10.00\nNet income 1,379.1 514.2 1,009.5 89.0 482.8\nper diluted common share $ 34.62 $ 12.78 $ 24.70 $ 2.17 $ 11.70\nDividends declared 6.20 6.20 5.75 5.30 5.05\nFinancial ratios\nCombined ratio 97.8% 102.9% 95.5 % 108.8% 103.5%\nAttritional combined ratio* 87.6% 87.5% 88.4 % 87.0% 85.0%\nAfter-tax operating return on average\nadjusted equity 12.2% 3.4% 10.3 % 2.3% 5.1%\nNet income return on average equity 14.6% 5.8% 12.0 % 1.1% 5.8%\n*\n_x0007_ Excluding catastrophe losses, reinstatement premiums, COVID-19 pandemic impact, and prior year development.\n_x0007_ The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income\n(loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense), and the tax charge related to the enactment of the Tax Cuts and Jobs Act\nof 2017 (TCJA). Further explanation and a reconciliation of net income (loss) to after-tax operating income (loss) can be found at the back of the 10-K insert.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000274_segments",
      "report_id": "ID_000274",
      "company_name": "Everest",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Reinsurance and Insurance",
      "golden_context": "Page 103:\n\n due to rounding.)\nThere were no anti-diluted options outstanding for the years ended December 31, 2021 and 2020.\nAll outstanding options expire on or between February 22, 2022 and September 19, 2022.\nL. Segmentation.\nThe Company, through its subsidiaries, operates in two segments: Reinsurance and Insurance. See also Note\n17.\nM. Deposit Assets and Liabilities.\nIn the normal course of its operations, the Company may enter into contracts that do not meet risk transfer\nprovisions. Such contracts are accounted for using the deposit accounting method and are included in other\nliabilities in the Company’s consolidated balance sheets. For such contracts, the Company originally records\ndeposit liabilities for an amount equivalent to the assets received. Actuarial studies are used to estimate the\nfinal liabilities under such contracts with any change reflected in the consolidated statements of operations\nand comprehensive income (loss).\nN. Share-Based Compensation.\nShare-based compensation stock option, restricted share and performance share unit awards are fair valued\nat the grant date and expensed over the vesting period of the award. The tax benefit on the recorded expense\nis deferred until the time th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_cash_flow",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "3.7bn operating cash flow",
      "golden_context": "Page 5:\n\nM Y FELLOW SH A REHOLDERS,\nFew years are as consequential to our\nindustry’s future as 2022.\nEconomic, geopolitical and climate-driven\nchallenges continue the flight to quality\namid a hardening reinsurance market.\nEverest was among a select group of\ncompanies positioned to capitalize on the\nopportunity.\nWe made 2022 a defining moment,\ndistinguishing Everest as a top performer\nfor both clients and investors, a\ndestination for the industry’s best talent\nand a strong, global steward in our\ncommunities.\nLeveraging our diversified platform,\nstrong balance sheet and proven\noperational agility, we advanced our\nstrategy and broke new ground in many\nareas. We grew both underwriting\nfranchises with improved margins,\nreduced volatility and generated double-\ndigit operating returns, proving our\nearnings generating power in any\nenvironment. While the S&P 500 index\nwas down 20% in 2022, Everest’s stock\nfinished up 21% for the year, reflecting\nthe market’s confidence in our vision and\nexecution.\nDriving sustainable returns\nOur consistent focus on the details of our\nbusiness drove many of our biggest\nfinancial wins. In 2022, we expanded our\nproducts and global footprint, and\ndeepened our portfolio with new and\ncore clients.\nWe delivered $477 million in underwriting\nprofit for the year, with over $1 billion in\noperating income, 10.6% operating return\non equity and $3.7 billion in operating\ncash flow. Powered by our robust\nunderwriting franchises, we grew the\ncompany 9% in constant dollars, finishing\nthe year with $14 billion in gross written\npremium.\nWe improved our group combined ratio\nnearly 2 points from 2021 despite\nanother year of elevated catastrophe\nlosses. We achieved excellent underlying\nresults, supported by improving margins\nin both divisions. Our attritional\ncombined ratio improved to 87.4%, and\nthe group attritional loss ratio improved\n70 basis points to 59.9%. We also\ndelivered a best-in-class operating\nexpense ratio of 5.8%. Our high-quality\ninvestment portfolio generated $830\nmillion in net investment income. Our\nactions to reshape and optimize the\nportfolio over the past three years and\nposition it for a rising rate environment\nhave paid significant dividends.\nWe ended the year with a strong capital\nbase, giving us flexibility for ongoing\ngrowth.\nOptimizing our leading\nfranchises for the future\nOur hybrid business model and\ndiversifying portfolio affords us the\nflexibility to thrive in various market\nconditions. This is paramount to our ability\nto help clients navigate seemingly\nperpetual crises in the broader business\nenvironment, most recently evidenced by\nthe turmoil in the U.S. banking system and\nits ongoing implications beginning in the\nfirst quarter of this year. In 2022, we saw\nrobust demand for our reinsurance and\ninsurance businesses. This, coupled with\nthe breadth of our offering and deep,\nlong-standing client and broker\nrelationships, led to an outstanding\nJanuary 1 reinsurance renewal, where we\nachieved every goal we set for the\nbusiness. We capitalized on market\nconditions, strategically grew and\ndiversified the portfolio and advanced our\nglobal leadership position, enabling us to\nenter 2023 with a more profitable, higher\nmargin book of business. Everest remains\n“risk on” as property market dislocation\ncontinues, and as pricing, and terms &\nconditions provide attractive returns within\nour defined risk appetite.\n2022 was another record year for our\nprimary insurance business. We grew the\ndivision with consistently expanding\nmargins and achieved an historic annual\nunderwriting profit. Additionally, we\nextended our value proposition in key\nmarkets in Latin America, Europe and Asia,\nand the response has been excellent.\nEverest entered 2023 in a position of\nstrength, with accelerating momentum\nand top-tier talent driving the business. We\nwill build on these efforts as we streamline\nand digitize our operations at scale. This is\na priority investment area and an Everest-\nwide commitment. We made excellent",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_company_type",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 16:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n_X_ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended December 31, 2022\n___ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nCommission file number 1-15731\nEVEREST RE GROUP, LTD.\n(Exact name of registrant as specified in its charter)\nBermuda 98-0365432\nSeon Place – 4th Floor\n141 Front Street\nPO Box HM 845\nHamilton HM 19, Bermuda\n441-295-0006\n(Address, including zip code, and telephone number, including area code, of registrant’s principal executive office)\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYES X NO\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYES NO X\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYES X NO\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding\n12 months (or for such shorter period that the registrant was required to submit such files).\nYES X NO\nIndicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in\ndefinitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the\ndefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer X Accelerated filer\nNon-accelerated filer Smaller reporting company\nEmerging growth company\nIndicate by check mark if the registrant is an emerging growth company and has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange act.\nYES NO X\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\nYES NO X\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\nYES X NO\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b).\nYES NO ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_key_financials",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "477m in underwriting profit, 1bn in operating income, 10.6% operating return on equity, and 3.7bn in operating cash flow",
      "golden_context": "Page 5:\n\nM Y FELLOW SH A REHOLDERS,\nFew years are as consequential to our\nindustry’s future as 2022.\nEconomic, geopolitical and climate-driven\nchallenges continue the flight to quality\namid a hardening reinsurance market.\nEverest was among a select group of\ncompanies positioned to capitalize on the\nopportunity.\nWe made 2022 a defining moment,\ndistinguishing Everest as a top performer\nfor both clients and investors, a\ndestination for the industry’s best talent\nand a strong, global steward in our\ncommunities.\nLeveraging our diversified platform,\nstrong balance sheet and proven\noperational agility, we advanced our\nstrategy and broke new ground in many\nareas. We grew both underwriting\nfranchises with improved margins,\nreduced volatility and generated double-\ndigit operating returns, proving our\nearnings generating power in any\nenvironment. While the S&P 500 index\nwas down 20% in 2022, Everest’s stock\nfinished up 21% for the year, reflecting\nthe market’s confidence in our vision and\nexecution.\nDriving sustainable returns\nOur consistent focus on the details of our\nbusiness drove many of our biggest\nfinancial wins. In 2022, we expanded our\nproducts and global footprint, and\ndeepened our portfolio with new and\ncore clients.\nWe delivered $477 million in underwriting\nprofit for the year, with over $1 billion in\noperating income, 10.6% operating return\non equity and $3.7 billion in operating\ncash flow. Powered by our robust\nunderwriting franchises, we grew the\ncompany 9% in constant dollars, finishing\nthe year with $14 billion in gross written\npremium.\nWe improved our group combined ratio\nnearly 2 points from 2021 despite\nanother year of elevated catastrophe\nlosses. We achieved excellent underlying\nresults, supported by improving margins\nin both divisions. Our attritional\ncombined ratio improved to 87.4%, and\nthe group attritional loss ratio improved\n70 basis points to 59.9%. We also\ndelivered a best-in-class operating\nexpense ratio of 5.8%. Our high-quality\ninvestment portfolio generated $830\nmillion in net investment income. Our\nactions to reshape and optimize the\nportfolio over the past three years and\nposition it for a rising rate environment\nhave paid significant dividends.\nWe ended the year with a strong capital\nbase, giving us flexibility for ongoing\ngrowth.\nOptimizing our leading\nfranchises for the future\nOur hybrid business model and\ndiversifying portfolio affords us the\nflexibility to thrive in various market\nconditions. This is paramount to our ability\nto help clients navigate seemingly\nperpetual crises in the broader business\nenvironment, most recently evidenced by\nthe turmoil in the U.S. banking system and\nits ongoing implications beginning in the\nfirst quarter of this year. In 2022, we saw\nrobust demand for our reinsurance and\ninsurance businesses. This, coupled with\nthe breadth of our offering and deep,\nlong-standing client and broker\nrelationships, led to an outstanding\nJanuary 1 reinsurance renewal, where we\nachieved every goal we set for the\nbusiness. We capitalized on market\nconditions, strategically grew and\ndiversified the portfolio and advanced our\nglobal leadership position, enabling us to\nenter 2023 with a more profitable, higher\nmargin book of business. Everest remains\n“risk on” as property market dislocation\ncontinues, and as pricing, and terms &\nconditions provide attractive returns within\nour defined risk appetite.\n2022 was another record year for our\nprimary insurance business. We grew the\ndivision with consistently expanding\nmargins and achieved an historic annual\nunderwriting profit. Additionally, we\nextended our value proposition in key\nmarkets in Latin America, Europe and Asia,\nand the response has been excellent.\nEverest entered 2023 in a position of\nstrength, with accelerating momentum\nand top-tier talent driving the business. We\nwill build on these efforts as we streamline\nand digitize our operations at scale. This is\na priority investment area and an Everest-\nwide commitment. We made excellent",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_revenue",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "12060m",
      "golden_context": "Page 98:\n\nEVEREST RE GROUP, LTD.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nAND COMPREHENSIVE INCOME (LOSS)\nYears Ended December 31,\n2022 2021 2020\n$ 11,787 $ 10,406 $ 8,682\n830 1,165 642\n(33) (28) (2)\n(460) 236 280\n38 50 (11)\n(Dollars in millions, except per share amounts) REVENUES:\nPremiums earned Net investment income Net gains (losses) on investments:\nCredit allowances on fixed maturity securities Gains (losses) from fair value adjustments Net realized gains (losses) from dispositions Total net realized capital gains (losses) Other income (expense) Total revenues 12,060 11,866 9,598\n(455) 258 268\n(102) 37 6\n11,472 10,321 9,013\n588 1,546 585\n(9) 167 71\n$ 597 $ 1,379 $ 514\nCLAIMS AND EXPENSES:\nIncurred losses and loss adjustment expenses 8,100 7,391 6,551\nCommission, brokerage, taxes and fees 2,528 2,209 1,873\nOther underwriting expenses 682 583 511\nCorporate expenses 61 68 41\nInterest, fees and bond issue cost amortization expense 101 70 36\nTotal claims and expenses INCOME (LOSS) BEFORE TAXES Income tax expense (benefit) NET INCOME (LOSS) Other comprehensive income (loss), net of tax:\nUnrealized appreciation (depreciation) (\"URA(D)\") on securities arising during the period (2,037) (488) 423\nReclassification adjustment for realized losses (gains) included in net income (loss) 89 4 (3)\nTotal URA(D) on securities arising during the period Foreign currency translation adjustments Benefit plan actuarial net gain (loss) for the period Reclassification adjustment for amortization of net (gain) loss included in net income (loss) Total benefit plan net gain (loss) for the period Total other comprehensive income (loss), net of tax COMPREHENSIVE INCOME (LOSS) (1,948) (485) 420\n(77) (62) 86\n15 17 (6)\n2 6 6\n17 23 1\n(2,008) (523) 507\n$ (1,411) $ 856 $ 1,021\nEARNINGS PER COMMON SHARE:\nBasic $ 15.19 $ 34.66 $ 12.81\nDiluted 15.19 34.62 12.78",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_revenue_growth",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "12060m, prior year 11866m",
      "golden_context": "Page 98:\n\nEVEREST RE GROUP, LTD.\nCONSOLIDATED STATEMENTS OF OPERATIONS\nAND COMPREHENSIVE INCOME (LOSS)\nYears Ended December 31,\n2022 2021 2020\n$ 11,787 $ 10,406 $ 8,682\n830 1,165 642\n(33) (28) (2)\n(460) 236 280\n38 50 (11)\n(Dollars in millions, except per share amounts) REVENUES:\nPremiums earned Net investment income Net gains (losses) on investments:\nCredit allowances on fixed maturity securities Gains (losses) from fair value adjustments Net realized gains (losses) from dispositions Total net realized capital gains (losses) Other income (expense) Total revenues 12,060 11,866 9,598\n(455) 258 268\n(102) 37 6\n11,472 10,321 9,013\n588 1,546 585\n(9) 167 71\n$ 597 $ 1,379 $ 514\nCLAIMS AND EXPENSES:\nIncurred losses and loss adjustment expenses 8,100 7,391 6,551\nCommission, brokerage, taxes and fees 2,528 2,209 1,873\nOther underwriting expenses 682 583 511\nCorporate expenses 61 68 41\nInterest, fees and bond issue cost amortization expense 101 70 36\nTotal claims and expenses INCOME (LOSS) BEFORE TAXES Income tax expense (benefit) NET INCOME (LOSS) Other comprehensive income (loss), net of tax:\nUnrealized appreciation (depreciation) (\"URA(D)\") on securities arising during the period (2,037) (488) 423\nReclassification adjustment for realized losses (gains) included in net income (loss) 89 4 (3)\nTotal URA(D) on securities arising during the period Foreign currency translation adjustments Benefit plan actuarial net gain (loss) for the period Reclassification adjustment for amortization of net (gain) loss included in net income (loss) Total benefit plan net gain (loss) for the period Total other comprehensive income (loss), net of tax COMPREHENSIVE INCOME (LOSS) (1,948) (485) 420\n(77) (62) 86\n15 17 (6)\n2 6 6\n17 23 1\n(2,008) (523) 507\n$ (1,411) $ 856 $ 1,021\nEARNINGS PER COMMON SHARE:\nBasic $ 15.19 $ 34.66 $ 12.81\nDiluted 15.19 34.62 12.78",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000275_segments",
      "report_id": "ID_000275",
      "company_name": "Everest",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Reinsurance and Insurance",
      "golden_context": "Page 23:\n\nUnderwriting Operations.\nThe following five year table presents the distribution of the Company’s gross written premiums by its segments:\nReinsurance and Insurance. The premiums for each segment are further split between property and casualty\nbusiness and, for reinsurance business, between pro rata or excess of loss business:\nGross Written Premiums by Segment\nYears Ended December 31,\n(Dollars in millions) Reinsurance\nProperty Pro Rata (1) Property Non-Catastrophe XOL Property Catastrophe XOL Casualty Pro Rata Casualty XOL Financial Lines Reinsurance Total (2) Insurance (3)\nAccident and Health Specialty Casualty Other Specialty Professional Liability Property/Short Tail Workers' Compensation Insurance Total (2) 2022 $ 2021 2020 2019 2018\n2,606 28.0% $ 2,843 31.4% $ 2,397 32.9% $ 1,974 31.1% $ 2,147 34.5%\n574 6.2% 625 6.9% 508 7.0% 443 7.0% 398 1,422 15.3% 1,468 16.2% 1,277 17.5% 1,187 18.6% 1,313 21.1%\n2,654 28.5% 2,251 24.8% 1,527 21.0% 1,443 22.7% 1,172 18.8%\n1,321 14.2% 1,267 14.0% 948 13.0% 730 11.5% 574 $ $ 740 7.9% 612 6.8% 625 8.6% 578 9.1% 620 10.0%\n9,316 100.0% $ 9,067 100.0% $ 7,282 100.0% $ 6,356 100.0% $ 6,225 100.0%\n501 10.8% $ 418 10.5% $ 370 11.6% $ 337 12.1% $ 286 12.7%\n1,622 35.0% 1,360 34.0% 1,005 31.4% 798 28.4% 588 25.9%\n324 7.0% 233 5.9% 169 5.3% 134 4.8% 94 821 17.7% 781 19.7% 542 16.9% 409 15.0% 304 13.8%\n855 18.4% 717 18.0% 605 18.9% 531 19.1% 447 19.9%\n513 11.1% 473 11.9% 510 15.9% 569 20.5% 531 23.6%\n4,636 100.0% 3,982 100.0% 3,201 100.0% 2,778 100.0% 2,251 100.0%\nTotal Company (2) $ 13,952 100.0% $ 13,050 100.0% $ 10,482 100.0% $ 9,133 100.0% $ 8,475 100.0%\n6.4%\n9.2%\n4.2%\n__________________\n(1) For purposes of the presentation above, pro rata includes all insurance and reinsurance attaching to the first dollar of loss incurred by the ceding company.\n(2) Certain totals and subtotals may not reconcile due to rounding.\n(3) Certain reclassifications have been made to prior years’ amounts to conform to the 2022 presentation\n(Some amounts may not reconcile due to rounding.)\nReinsurance Segment. In 2022, the Co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_cash_flow",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 4553m, investing: -5902m, financing: 1409m",
      "golden_context": "Page 95:\n\nEVEREST GROUP, LTD.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYears Ended December 31,\n2023 2022 2021\n$ 2,517 $ 597 $ 1,379\n4,553 3,695 3,833\n(In millions of U.S. dollars) CASH FLOWS FROM OPERATING ACTIVITIES:\nNet income (loss) Adjustments to reconcile net income to net cash provided by operating activities:\nDecrease (increase) in premiums receivable (1,064) (435) (649)\nDecrease (increase) in funds held by reinsureds, net (66) (197) (151)\nDecrease (increase) in reinsurance recoverables 143 (413) (125)\nDecrease (increase) in income taxes (559) (181) 68\nDecrease (increase) in prepaid reinsurance premiums (46) (166) (128)\nIncrease (decrease) in reserve for losses and loss adjustment expenses 2,256 3,477 2,805\nIncrease (decrease) in unearned premiums 1,387 655 1,146\nIncrease (decrease) in amounts due to reinsurers 18 201 186\nIncrease (decrease) in losses in course of payment 93 (186) 134\nChange in equity adjustments in limited partnerships (168) (94) (613)\nDistribution of limited partnership income 120 180 211\nChange in other assets and liabilities, net (339) (297) (292)\nNon-cash compensation expense 49 45 43\nAmortization of bond premium (accrual of bond discount) (64) 55 76\nNet (gains) losses on investments 276 455 (258)\nNet cash provided by (used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES:\nProceeds from fixed maturities matured/called/repaid - available for sale 2,310 2,626 3,893\nProceeds from fixed maturities sold - available for sale 3,849 1,403 1,916\nProceeds from fixed maturities matured/called/repaid - held to maturity 105 39 —\nProceeds from equity securities sold 126 2,217 990\nDistributions from other invested assets 245 266 257\nCost of fixed maturities acquired - available for sale (10,653) (7,344) (8,825)\nCost of fixed maturities acquired - held to maturity (112) (153) —\nCost of equity securities acquired (17) (1,003) (1,098)\nCost of other invested assets acquired (902) (1,547) (757)\nNet change in short-term investments (1,034) 149 (43)\nNet change in unsettled securities transactions 181 (71) (203)\nNet cash provided by (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES:\nCommon shares issued (redeemed) during the period for share-based compensation, net of expense (23) (17) (14)\nProceeds from public offering of common shares 1,445 — —\nPurchase of treasury shares — (61) (225)\nDividends paid to shareholders (288) (255) (247)\nProceeds from issuance of senior notes — — 968\nCost of debt repurchase — (6) —\nNet FHLB borrowings (repayments) 300 — 209\nCost of shares withheld on settlements of share-based compensation awards (24) (20) (17)\nNet cash provided by (used in) financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH Net increase (decrease) in cash Cash, beginning of period Cash, end of period SUPPLEMENTAL CASH FLOW INFORMATION:\nIncome taxes paid (recovered) $ 196 $ 171 $ 98\nInterest paid 130 98 62\nNON-CASH TRANSACTIONS:\nReclassification of specific investments from fixed maturity securities, available for sale at fair value\nto fixed maturity securities, held to maturity at amortized cost net of credit allowances The accompanying notes are an integral part of the consolidated financial statements.\n(5,902) (3,418) (3,869)\n1,409 (359) 674\n(23) 39 1\n38 (42) 639\n1,398 1,441 802\n$ 1,437 $ 1,398 $ 1,441\n$ — $ 722 $ —",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_company_type",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 16:\n\n and flexibility to adjust and respond to changing market conditions. Key elements of these strategies,\nas applicable to the Reinsurance segment, include careful risk selection, appropriate pricing through strict underwriting\ndiscipline and adjustments to the Company’s business mix as market conditions change. We focus on (re)insuring\ncompanies that effectively manage their own underwriting cycle through proper analysis and appropriate pricing of\nunderlying risks and whose underwriting guidelines and performance are compatible with their and the Company’s\nobjectives. Key elements of the Company’s underwriting strategies, as applicable to the Insurance segment, include\ncareful expansion on what we believe to be the Company’s existing strengths in the primary insurance market, including\nits broad underwriting expertise, global presence, strong financial ratings and substantial capital, and facilitating\nadjustments to its mix of business by geographic region, line of business and type of coverage. These strategies allow\nEverest to fully participate in market opportunities that provide the greatest potential for underwriting profitability. The\nCompany’s insurance and reinsurance operations allow the Company to execute its strategies by providing access to the\nglobal business markets. The Company carefully monitors its mix of business across all operations to seek to avoid\nunacceptable geographic or other risk concentrations.\nSegments Overview.\nThe Company operates through two operating segments, Reinsurance and Insurance, which are managed as autonomous\nunits, and key strategic decisions are based on the aggregate operating results and projections for the two business\nsegments. During the fourth quarter of 2023, the Company revised the classification and presentation of certain products\nrelated to its accident and health business within the segment groupings. These products have been realigned from\nwithin the Reinsurance segment to the Insurance segment to appropriately reflect how the business segments are now\nmanaged due to changes in management beginning in the fourth quarter of 2023. These changes have been reflected\nretrospectively.\nThe Reinsurance segment writes worldwide property and casualty reinsurance and specialty lines of business, on both a\ntreaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies. Business is written in\n5\nthe United States, Bermuda, and Ireland offices, as well as through branches in Canada, Singapore, the United Kingdom\n(“UK”) and Switzerland. The Insurance segment writes property and casualty insurance direct",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_key_financials",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "1.2bn underwriting profit; 17bn gross written premium",
      "golden_context": "Page 5:\n\n$1.2B\nunderwriting profit for 2023\n$17B\nin gross written premium\nMy fellow shareholders,\n2023 was a transformative year for Everest, and\nthe most profitable in our Company’s history,\ndelivering a total shareholder return of 26.5%\nand operating ROE of 23%.\nFrom our disciplined underwriting strategies\nand global capabilities to our operations and\ninvestments, we elevated key elements of our\nbusiness, unlocking sustained value.\nWe did not get here by standing still.\nOur colleagues share our mutual drive to\noutperform, and to “pursue better”- a core\nbehavior that underpins our disciplined\nunderwriting culture and focus on driving\nindustry-leading returns.\nDelivering leading financial returns\nEverest’s performance places the Company in\nthe top quartile among the market’s leading\nfinancial companies. Everest was a top\nperformer among our peers in 2023 in terms\nof book value growth and total shareholder\nreturn, even excluding the benefit from the\ndeferred tax asset attributed to the new tax\nlegislation in Bermuda.\nWe executed on our strategic objectives,\ndelivering excellent returns and achieved\nnew profitability records for the Company,\nincluding $1.2 billion in annual underwriting\nprofit, $1.4 billion in net investment income,\n$2.8 billion in operating income, and\n$2.5 billion in net income, and generated\nclose to $5 billion in operating cash flow.\nPowered by our reinsurance and insurance\nfranchises, we grew by 21% in constant\ndollars and excluding reinstatement\npremiums and finished the year with nearly\n$17 billion in gross written premium.\nWe improved our group combined ratio more\nthan 5 points from 2022, despite another\nyear of elevated industry insured catastrophe\nlosses exceeding $120 billion. Our group\nattritional loss ratio improved by 70 bps\nto 59.3% and we delivered an attritional\ncombined ratio of 86.9% (excluding the\nimpact of profit commissions on released\nreserves). Everest’s 6.3% operating expense\nratio remained best-in-class, while continuing\nto invest in our business. We positioned\nEverest’s investment portfolio for the rising\nrate environment and generated $1.4 billion\nin net investment income. The quality and\nstrength of our franchise was evident as\nwe achieved record results while building\nadditional strength into our reserve base.\nA diversified, world class franchise\nbuilt for the future\nOur diversified model gives Everest significant\nflexibility to drive superior returns across\ncycles. As a lead reinsurer and preferred\nprovider, we capitalized on market tailwinds\nand continued scaling our primary insurance\nplatform globally.\nLeveraging our A+ rated balance sheet,\nalong with our opportunistic $1.5 billion\nequity raise last year, Everest leaned into the\ngenerational hard market. We deployed the\nremaining capital into increasingly attractive\nlines of business with improved risk-adjusted\nreturns at 2024’s January renewals. We grew\nand diversified the portfolio geographically\nand by business line, expanding in under-\npenetrated and fast-growing markets.\nAs a result, we further strengthened our\nrelationships and achieved a more profitable,\nhigher margin book of business, and we are\npoised to continue this positive trajectory\nfor the business in 2024 as market conditions\nremain attractive and we continue to realize\nearned premium.\n\n\nPage 7:\n\nDriving sustainable,\nleading financial returns\n2023 was the most profitable year\nin our history. We achieved record\nunderwriting income, record net\ninvestment income, record operating\nincome, record net income and record\noperating cash flow.\nFinancial highlights (as of December 31, 2023)\n($ in millions, except per share data) 2023 2022 2021 2020 2019\nBalance Sheet\nCash and Investments $ 37,142 $ 29,872 $ 29,673 $ 25,462 $ 20,749\nShareholders’ equity 13,202 8,441 10,139 9,726 9,133\nBook value per common share $ 304.29 $ 215.54 $ 258.21 $ 243.25 $ 223.85\nResults\nGross written premiums $ 16,637 $ 13,952 $ 13,050 $ 10,482 $ 9,133\nNet investment income 1,434 830 1,165 642 After-tax operating income (loss) 2,776 1,065 1,153 300 per diluted common share $ 66.39 $ 27.08 $ 28.97 7.46 21.34\nNet income (loss) 2,517 597 1,379 514 1,010\nper diluted common share $ 60.19 $ 15.19 $ 34.62 $ 12.78 $ 24.70\nDividends declared 6.80 6.50 6.20 6.20 5.75\nFinancial Ratios\nCombined ratio 90.9% 96.0% 97.8% 102.9% 95.5%\nAttritional combined ratio1,2 86.9%3 87.4% 87.6% 87.6% 88.4%\nAfter-tax operating return on average\nadjusted equity 23.1% 10.6% 12.2% 3.4% 10.3%\nNet income (loss) return on average equity 20.9% 6.0% 14.6% 5.8% 12.0%\n647\n872\nThe Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating\nincome (loss) consists of net income (loss) excluding after-tax net gains (losses) on investments and after-tax net foreign exchange income (expe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_revenue",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "14587m",
      "golden_context": "Page 57:\n\nFinancial Summary.\nWe monitor and evaluate our overall performance based upon financial results. The following table displays a summary\nof the consolidated net income (loss), ratios and shareholders’ equity for the periods indicated:\nYears Ended December 31, Percentage Increase/(Decrease)\n(Dollars in millions) 2023 2022 2021 2023/2022 2022/2021\nGross written premiums $ 16,637 $ 13,952 $ 13,050 19.2 % 6.9 %\nNet written premiums 14,730 12,344 11,446 19.3 % 7.9 %\nREVENUES:\nPremiums earned $ 13,443 $ 11,787 $ 10,406 14.0 % 13.3 %\nNet investment income 1,434 830 1,165 72.7 % (28.8) %\nNet gains (losses) on investments (276) (455) 258 (39.3) % NM\nOther income (expense) (14) (102) 37 (86.3) % NM\nTotal revenues 14,587 12,060 11,866 20.9 % 1.6 %\nCLAIMS AND EXPENSES:\nIncurred losses and loss adjustment expenses 8,427 8,100 7,391 4.0 % 9.6 %\nCommission, brokerage, taxes and fees 2,952 2,528 2,209 16.7 % 14.5 %\nOther underwriting expenses 846 682 583 24.1 % 17.0 %\nCorporate expenses 73 61 68 19.9 % (10.1) %\nInterest, fees and bond issue cost amortization expense 134 101 70 33.2 % 43.9 %\nTotal claims and expenses 12,432 11,472 10,321 8.4 % 11.2 %\nINCOME (LOSS) BEFORE TAXES 2,154 588 1,546 NM (62.0) %\nIncome tax expense (benefit) (363) (9) 167 NM NM\nNET INCOME (LOSS) $ 2,517 $ 597 $ 1,379 NM (56.7) %\nRATIOS: Point Change\nLoss ratio 62.7 % 68.7 % 71.0 % (6.0) (2.3)\nCommission and brokerage ratio 22.0 % 21.4 % 21.2 % 0.6 0.2\nOther underwriting expense ratio 6.3 % 5.8 % 5.6 % 0.5 0.2\nCombined ratio 90.9 % 96.0 % 97.8 % (5.1) (1.8)\nAt December 31, Percentage Increase/(Decrease)\n(Dollars in millions, except per share amounts) 2023 2022 2021 2023/2022 2022/2021\nBalance sheet data:\nTotal investments and cash $ 37,142 $ 29,872 $ 29,673 24.3 % 0.7 %\nTotal assets 49,399 39,966 38,185 23.6 % 4.7 %\nLoss and loss adjustment expense reserves 24,604 22,065 19,009 11.5 % 16.1 %\nTotal debt 3,385 3,084 3,089 9.8 % (0.2) %\nTotal liabilities 36,197 31,525 28,046 14.8 % 12.4 %\nShareholders' equity 13,202 8,441 10,139 56.4 % (16.8) %\nBook value per share 304.29 215.54 258.21 41.2 % (16.5) %\n(NM - not meaningful)\n(Some amounts may not reconcile due to rounding.)\nRevenues.\nPremiums. Gross written premiums increased by 19.2% to $16.6 billion in 2023, compared to $14.0 billion in 2022,\nreflecting a $2.2 billion, or 23.9% increase in our reinsurance business and a $473 million, or 10.0%, increase in our\ninsurance business. The increase in reinsurance premiums reflects growth across all lines of business, particularly\nproperty pro rata, and property excess of loss business. The increase in insurance premiums reflects growth across\nmultiple lines of business, particularly specialty casualty business, property/sho",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_revenue_growth",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "14587m, 12060m prior year",
      "golden_context": "Page 57:\n\nFinancial Summary.\nWe monitor and evaluate our overall performance based upon financial results. The following table displays a summary\nof the consolidated net income (loss), ratios and shareholders’ equity for the periods indicated:\nYears Ended December 31, Percentage Increase/(Decrease)\n(Dollars in millions) 2023 2022 2021 2023/2022 2022/2021\nGross written premiums $ 16,637 $ 13,952 $ 13,050 19.2 % 6.9 %\nNet written premiums 14,730 12,344 11,446 19.3 % 7.9 %\nREVENUES:\nPremiums earned $ 13,443 $ 11,787 $ 10,406 14.0 % 13.3 %\nNet investment income 1,434 830 1,165 72.7 % (28.8) %\nNet gains (losses) on investments (276) (455) 258 (39.3) % NM\nOther income (expense) (14) (102) 37 (86.3) % NM\nTotal revenues 14,587 12,060 11,866 20.9 % 1.6 %\nCLAIMS AND EXPENSES:\nIncurred losses and loss adjustment expenses 8,427 8,100 7,391 4.0 % 9.6 %\nCommission, brokerage, taxes and fees 2,952 2,528 2,209 16.7 % 14.5 %\nOther underwriting expenses 846 682 583 24.1 % 17.0 %\nCorporate expenses 73 61 68 19.9 % (10.1) %\nInterest, fees and bond issue cost amortization expense 134 101 70 33.2 % 43.9 %\nTotal claims and expenses 12,432 11,472 10,321 8.4 % 11.2 %\nINCOME (LOSS) BEFORE TAXES 2,154 588 1,546 NM (62.0) %\nIncome tax expense (benefit) (363) (9) 167 NM NM\nNET INCOME (LOSS) $ 2,517 $ 597 $ 1,379 NM (56.7) %\nRATIOS: Point Change\nLoss ratio 62.7 % 68.7 % 71.0 % (6.0) (2.3)\nCommission and brokerage ratio 22.0 % 21.4 % 21.2 % 0.6 0.2\nOther underwriting expense ratio 6.3 % 5.8 % 5.6 % 0.5 0.2\nCombined ratio 90.9 % 96.0 % 97.8 % (5.1) (1.8)\nAt December 31, Percentage Increase/(Decrease)\n(Dollars in millions, except per share amounts) 2023 2022 2021 2023/2022 2022/2021\nBalance sheet data:\nTotal investments and cash $ 37,142 $ 29,872 $ 29,673 24.3 % 0.7 %\nTotal assets 49,399 39,966 38,185 23.6 % 4.7 %\nLoss and loss adjustment expense reserves 24,604 22,065 19,009 11.5 % 16.1 %\nTotal debt 3,385 3,084 3,089 9.8 % (0.2) %\nTotal liabilities 36,197 31,525 28,046 14.8 % 12.4 %\nShareholders' equity 13,202 8,441 10,139 56.4 % (16.8) %\nBook value per share 304.29 215.54 258.21 41.2 % (16.5) %\n(NM - not meaningful)\n(Some amounts may not reconcile due to rounding.)\nRevenues.\nPremiums. Gross written premiums increased by 19.2% to $16.6 billion in 2023, compared to $14.0 billion in 2022,\nreflecting a $2.2 billion, or 23.9% increase in our reinsurance business and a $473 million, or 10.0%, increase in our\ninsurance business. The increase in reinsurance premiums reflects growth across all lines of business, particularly\nproperty pro rata, and property excess of loss business. The increase in insurance premiums reflects growth across\nmultiple lines of business, particularly specialty casualty business, property/sho",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000276_segments",
      "report_id": "ID_000276",
      "company_name": "Everest",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Reinsurance and Insurance",
      "golden_context": "Page 24:\n\n and flexibility to adjust and respond to changing market conditions. Key elements of these strategies,\nas applicable to the Reinsurance segment, include careful risk selection, appropriate pricing through strict underwriting\ndiscipline and adjustments to the Company’s business mix as market conditions change. We focus on (re)insuring\ncompanies that effectively manage their own underwriting cycle through proper analysis and appropriate pricing of\nunderlying risks and whose underwriting guidelines and performance are compatible with their and the Company’s\nobjectives. Key elements of the Company’s underwriting strategies, as applicable to the Insurance segment, include\ncareful expansion on what we believe to be the Company’s existing strengths in the primary insurance market, including\nits broad underwriting expertise, global presence, strong financial ratings and substantial capital, and facilitating\nadjustments to its mix of business by geographic region, line of business and type of coverage. These strategies allow\nEverest to fully participate in market opportunities that provide the greatest potential for underwriting profitability. The\nCompany’s insurance and reinsurance operations allow the Company to execute its strategies by providing access to the\nglobal business markets. The Company carefully monitors its mix of business across all operations to seek to avoid\nunacceptable geographic or other risk concentrations.\nSegments Overview.\nThe Company operates through two operating segments, Reinsurance and Insurance, which are managed as autonomous\nunits, and key strategic decisions are based on the aggregate operating results and projections for the two business\nsegments. During the fourth quarter of 2023, the Company revised the classification and presentation of certain products\nrelated to its accident and health business within the segment groupings. These products have been realigned from\nwithin the Reinsurance segment to the Insurance segment to appropriately reflect how the business segments are now\nmanaged due to changes in management beginning in the fourth quarter of 2023. These changes have been reflected\nretrospectively.\nThe Reinsurance segment writes worldwide property and casualty reinsurance and specialty lines of business, on both a\ntreaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies. Business is written in\n5\nthe United States, Bermuda, and Ireland offices, as well as through branches in Canada, Singapore, the United Kingdom\n(“UK”) and Switzerland. The Insurance segment writes property and casualty insurance direct",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_cash_flow",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "free cash flow: 797.7m",
      "golden_context": "Page 8:\n\nanagement’s Discussion and Analysis of\nFinancial Condition and Results of Operations\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting\nPolicies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2021 2020 2019\nNet cash provided by operating\nactivities $1,046.8 $ 751.3 $ 746.5\nPurchases of property, plant\nand equipment (255.0) (201.4) (219.4)\nPurchases of software and\nother deferred charges (17.1) (17.2) (37.8)\nProceeds from sales of property,\nplant and equipment 1.1 9.2 7.8\nProceeds from insurance and\nsales (purchases) of\ninvestments, net 3.1 5.6 4.9\nContributions for U.S. pension\nplan termination – – 10.3\nPayments for certain\nacquisition-related\ntransaction costs 18.8 – –\nFree cash flow $ 797.7 $ 547.5 $ 512.3\nIn 2021, cash flow provided by operating activities\nincreased compared to 2020 primarily due to higher net\nincome, changes in operational working capital and lower\nseverance payments related to restructuring actions,\npartially offset by higher income tax payments, net of\nrefunds. In 2021, free cash flow increased compared to\n2020 primarily due to higher cash provided by operating\nactivities adjusted for payments for certain acquisition-\nrelated transaction costs, partially offset by higher\npurchases of property, plant and equipment.\nOutlook\nIn addition to the continued uncertain impact of\nCOVID-19 on our businesses and including the impact of\nour Vestcom acquisition, certain factors that we believe\nmay contribute to our 2022 results are described below.\n• We expect net sales to increase by approximately\n8% to 11%, reflecting in part a decrease of\napproximately 3% from the effect of foreign\ncurrency translation and an increase of\napproximately 3% from the effect of acquisitions.\n• Based on recent exchange rates, we expect foreign\ncurrency translation to decrease our operating\nincome by approximately $35 million.\n• We expect fixed and IT capital expenditures to be\napproximately $350 million.\n• We expect our full year effective tax rate to be in\nthe mid-twenty percent range.\n6 2021 Annual Report | Avery Dennison Corporation\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except\npercentages) 2021 2020 2019\nNet sales $8,408.3 $6,971.5 $7,070.1\nCost of products sold 6,095.5 5,048.2 5,166.0\nGross profit Marketing, general and\n2,312.8 1,923.3 1,904.1\nadministrative expense 1,248.5 1,060.5 1,080.4\nOther expense (income), net 5.6 53.6 53.2\nInterest expense 70.2 70.0 75.8\nOther non-operating\nexpense (income), net (4.1) 1.9 445.2\nIncome before taxes $ 992.6 $ 737.3 $ 249.5\nGross profit margin 27.5% 27.6% 26.9%\nGross Profit Margin\nGross profit margin in 2021 decreased slightly\ncompared to 2020 primarily reflecting the net impact of\nhigher sales prices, higher raw material costs and higher\nfreight costs, the impact of prior-year temporary cost\nreduction actions and higher employee-related costs,\npartially offset by favorable volume/mix and the benefits\nfrom productivity initiatives, including temporary cost\nreduction actions, material re-engineering and savings\nfrom restructuring actions, net of transition costs.\nGross profit margin in 2020 increased compared to\n2019 primarily reflecting the net benefit of pricing and raw\nmaterial input costs and the benefits from productivity\ninitiatives, including temporary cost reduction actions,\nmaterial re-engineering and savings from restructuring\nactions, net of transition costs, partially offset by the net\nimpact of lower volume and unfavorable product mix.\nMarketing, General and Administrative Expense\nMarketing, general and administrative expense\nincreased in 2021 compared to 2020 primarily due to higher\nemployee-related costs including the impact of acquisitions,\ngrowth investments, the impact of prior-year temporary cost\nreduction actions and unfavorable currency translation,\npartially offset by lower allowance for credit losses.\nMarketing, general and administrative expense\ndecreased in 2020 compared to 2019 primarily due to\nbenefits from productivity initiatives, including temporary\ncost reduction actions, and savings from restructuring\nactions, net of transition costs, as well as favorable foreign\ncurrency translation, partially offset by the impact of our\nSmartrac acquisition, increased allowance for credit losses\nand our contribution to the Avery Dennison Foundation.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_company_type",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 9:\n\nas comparable to 2020.\nInterest expense decreased approximately $5.8 million in\n2020 compared to 2019, primarily reflecting lower\nborrowing rates on our outstanding indebtedness.\nOther Non-Operating Expense (Income), Net\nOther non-operating income, net, increased in 2021\ncompared to 2020 as the components of net periodic benefit\ncosts other than service costs resulted in a net credit.\nOther non-operating expense, net, decreased in 2020\ncompared to 2019 primarily due to the prior-year impact\nof the Avery Dennison Pension Plan (the “ADPP”)\ntermination. In 2019, we recorded approximately $444\nmillion of settlement charges related to the termination of\nthe ADPP which increased other non-operating expense\ncompared to 2018.\nManagement’s Discussion and Analysis of\nFinancial Condition and Results of Operations\nRefer to Note 6, “Pension and Other Postretirement\nBenefits,” and Note 14, “Taxes Based on Income,” to the\nConsolidated Financial Statements for more information.\nNet Income and Earnings per Share\n(In millions, except percentages\nand per share amounts) 2021 2020 2019\nIncome before taxes $992.6 $737.3 $249.5\nProvision for (benefit from) income\ntaxes 248.6 177.7 (56.7)\nEquity method investment (losses)\ngains (3.9) (3.7) (2.6)\nNet income $740.1 $555.9 $303.6\nNet income per common share $ 8.93 $ 6.67 $ 3.61\nNet income per common share,\nassuming dilution 8.83 6.61 3.57\nEffective tax rate 25.0% 24.1% (22.7)%\nProvision for (Benefit from) Income Taxes\nOur effective tax rate in 2021 increased compared to\n2020 primarily due to lower benefits from decreases in\ncertain tax reserves, including interest and penalties, as a\nresult of closing tax years, and the tax charge related to\ncertain legal proceeding, partially offset by higher benefits\nfrom return-to-provision adjustments related to GILTI\nexclusion elections in 2021. Our effective tax rate in 2020\nincreased compared to 2019 primarily due to the tax\neffects of the settlement charges associated with our\ntermination of the ADPP and a discrete foreign structuring\ntransaction in 2019.\nOur effective tax rate can vary from period to period\ndue to the recognition of discrete events, such as changes\nin tax reserves, settlements of income tax audits, changes\nin tax laws and regulations, return-to-provision\nadjustments, and tax impacts related to stock-based\npayments, as well as recurring factors, such as changes in\nthe mix of earnings in countries with differing statutory\ntax rates and the execution of tax planning strategies.\nRefer to Note 14, “Taxes Based on Income,” to the\nConsolidated Financial Statements for more information.\nAvery Dennison Corporation | 2021 Annual Report 7",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_key_financials",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "free cash flow: 797.7m, net sales 8'408.3m, gross profit 2'312.8m",
      "golden_context": "Page 8:\n\nanagement’s Discussion and Analysis of\nFinancial Condition and Results of Operations\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting\nPolicies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2021 2020 2019\nNet cash provided by operating\nactivities $1,046.8 $ 751.3 $ 746.5\nPurchases of property, plant\nand equipment (255.0) (201.4) (219.4)\nPurchases of software and\nother deferred charges (17.1) (17.2) (37.8)\nProceeds from sales of property,\nplant and equipment 1.1 9.2 7.8\nProceeds from insurance and\nsales (purchases) of\ninvestments, net 3.1 5.6 4.9\nContributions for U.S. pension\nplan termination – – 10.3\nPayments for certain\nacquisition-related\ntransaction costs 18.8 – –\nFree cash flow $ 797.7 $ 547.5 $ 512.3\nIn 2021, cash flow provided by operating activities\nincreased compared to 2020 primarily due to higher net\nincome, changes in operational working capital and lower\nseverance payments related to restructuring actions,\npartially offset by higher income tax payments, net of\nrefunds. In 2021, free cash flow increased compared to\n2020 primarily due to higher cash provided by operating\nactivities adjusted for payments for certain acquisition-\nrelated transaction costs, partially offset by higher\npurchases of property, plant and equipment.\nOutlook\nIn addition to the continued uncertain impact of\nCOVID-19 on our businesses and including the impact of\nour Vestcom acquisition, certain factors that we believe\nmay contribute to our 2022 results are described below.\n• We expect net sales to increase by approximately\n8% to 11%, reflecting in part a decrease of\napproximately 3% from the effect of foreign\ncurrency translation and an increase of\napproximately 3% from the effect of acquisitions.\n• Based on recent exchange rates, we expect foreign\ncurrency translation to decrease our operating\nincome by approximately $35 million.\n• We expect fixed and IT capital expenditures to be\napproximately $350 million.\n• We expect our full year effective tax rate to be in\nthe mid-twenty percent range.\n6 2021 Annual Report | Avery Dennison Corporation\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except\npercentages) 2021 2020 2019\nNet sales $8,408.3 $6,971.5 $7,070.1\nCost of products sold 6,095.5 5,048.2 5,166.0\nGross profit Marketing, general and\n2,312.8 1,923.3 1,904.1\nadministrative expense 1,248.5 1,060.5 1,080.4\nOther expense (income), net 5.6 53.6 53.2\nInterest expense 70.2 70.0 75.8\nOther non-operating\nexpense (income), net (4.1) 1.9 445.2\nIncome before taxes $ 992.6 $ 737.3 $ 249.5\nGross profit margin 27.5% 27.6% 26.9%\nGross Profit Margin\nGross profit margin in 2021 decreased slightly\ncompared to 2020 primarily reflecting the net impact of\nhigher sales prices, higher raw material costs and higher\nfreight costs, the impact of prior-year temporary cost\nreduction actions and higher employee-related costs,\npartially offset by favorable volume/mix and the benefits\nfrom productivity initiatives, including temporary cost\nreduction actions, material re-engineering and savings\nfrom restructuring actions, net of transition costs.\nGross profit margin in 2020 increased compared to\n2019 primarily reflecting the net benefit of pricing and raw\nmaterial input costs and the benefits from productivity\ninitiatives, including temporary cost reduction actions,\nmaterial re-engineering and savings from restructuring\nactions, net of transition costs, partially offset by the net\nimpact of lower volume and unfavorable product mix.\nMarketing, General and Administrative Expense\nMarketing, general and administrative expense\nincreased in 2021 compared to 2020 primarily due to higher\nemployee-related costs including the impact of acquisitions,\ngrowth investments, the impact of prior-year temporary cost\nreduction actions and unfavorable currency translation,\npartially offset by lower allowance for credit losses.\nMarketing, general and administrative expense\ndecreased in 2020 compared to 2019 primarily due to\nbenefits from productivity initiatives, including temporary\ncost reduction actions, and savings from restructuring\nactions, net of transition costs, as well as favorable foreign\ncurrency translation, partially offset by the impact of our\nSmartrac acquisition, increased allowance for credit losses\nand our contribution to the Avery Dennison Foundation.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_revenue",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "net sales: 8'408.3m",
      "golden_context": "Page 8:\n\nanagement’s Discussion and Analysis of\nFinancial Condition and Results of Operations\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting\nPolicies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2021 2020 2019\nNet cash provided by operating\nactivities $1,046.8 $ 751.3 $ 746.5\nPurchases of property, plant\nand equipment (255.0) (201.4) (219.4)\nPurchases of software and\nother deferred charges (17.1) (17.2) (37.8)\nProceeds from sales of property,\nplant and equipment 1.1 9.2 7.8\nProceeds from insurance and\nsales (purchases) of\ninvestments, net 3.1 5.6 4.9\nContributions for U.S. pension\nplan termination – – 10.3\nPayments for certain\nacquisition-related\ntransaction costs 18.8 – –\nFree cash flow $ 797.7 $ 547.5 $ 512.3\nIn 2021, cash flow provided by operating activities\nincreased compared to 2020 primarily due to higher net\nincome, changes in operational working capital and lower\nseverance payments related to restructuring actions,\npartially offset by higher income tax payments, net of\nrefunds. In 2021, free cash flow increased compared to\n2020 primarily due to higher cash provided by operating\nactivities adjusted for payments for certain acquisition-\nrelated transaction costs, partially offset by higher\npurchases of property, plant and equipment.\nOutlook\nIn addition to the continued uncertain impact of\nCOVID-19 on our businesses and including the impact of\nour Vestcom acquisition, certain factors that we believe\nmay contribute to our 2022 results are described below.\n• We expect net sales to increase by approximately\n8% to 11%, reflecting in part a decrease of\napproximately 3% from the effect of foreign\ncurrency translation and an increase of\napproximately 3% from the effect of acquisitions.\n• Based on recent exchange rates, we expect foreign\ncurrency translation to decrease our operating\nincome by approximately $35 million.\n• We expect fixed and IT capital expenditures to be\napproximately $350 million.\n• We expect our full year effective tax rate to be in\nthe mid-twenty percent range.\n6 2021 Annual Report | Avery Dennison Corporation\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except\npercentages) 2021 2020 2019\nNet sales $8,408.3 $6,971.5 $7,070.1\nCost of products sold 6,095.5 5,048.2 5,166.0\nGross profit Marketing, general and\n2,312.8 1,923.3 1,904.1\nadministrative expense 1,248.5 1,060.5 1,080.4\nOther expense (income), net 5.6 53.6 53.2\nInterest expense 70.2 70.0 75.8\nOther non-operating\nexpense (income), net (4.1) 1.9 445.2\nIncome before taxes $ 992.6 $ 737.3 $ 249.5\nGross profit margin 27.5% 27.6% 26.9%\nGross Profit Margin\nGross profit margin in 2021 decreased slightly\ncompared to 2020 primarily reflecting the net impact of\nhigher sales prices, higher raw material costs and higher\nfreight costs, the impact of prior-year temporary cost\nreduction actions and higher employee-related costs,\npartially offset by favorable volume/mix and the benefits\nfrom productivity initiatives, including temporary cost\nreduction actions, material re-engineering and savings\nfrom restructuring actions, net of transition costs.\nGross profit margin in 2020 increased compared to\n2019 primarily reflecting the net benefit of pricing and raw\nmaterial input costs and the benefits from productivity\ninitiatives, including temporary cost reduction actions,\nmaterial re-engineering and savings from restructuring\nactions, net of transition costs, partially offset by the net\nimpact of lower volume and unfavorable product mix.\nMarketing, General and Administrative Expense\nMarketing, general and administrative expense\nincreased in 2021 compared to 2020 primarily due to higher\nemployee-related costs including the impact of acquisitions,\ngrowth investments, the impact of prior-year temporary cost\nreduction actions and unfavorable currency translation,\npartially offset by lower allowance for credit losses.\nMarketing, general and administrative expense\ndecreased in 2020 compared to 2019 primarily due to\nbenefits from productivity initiatives, including temporary\ncost reduction actions, and savings from restructuring\nactions, net of transition costs, as well as favorable foreign\ncurrency translation, partially offset by the impact of our\nSmartrac acquisition, increased allowance for credit losses\nand our contribution to the Avery Dennison Foundation.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_revenue_growth",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales: 8'408.3m, prior year 6'971.5m",
      "golden_context": "Page 8:\n\nanagement’s Discussion and Analysis of\nFinancial Condition and Results of Operations\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting\nPolicies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2021 2020 2019\nNet cash provided by operating\nactivities $1,046.8 $ 751.3 $ 746.5\nPurchases of property, plant\nand equipment (255.0) (201.4) (219.4)\nPurchases of software and\nother deferred charges (17.1) (17.2) (37.8)\nProceeds from sales of property,\nplant and equipment 1.1 9.2 7.8\nProceeds from insurance and\nsales (purchases) of\ninvestments, net 3.1 5.6 4.9\nContributions for U.S. pension\nplan termination – – 10.3\nPayments for certain\nacquisition-related\ntransaction costs 18.8 – –\nFree cash flow $ 797.7 $ 547.5 $ 512.3\nIn 2021, cash flow provided by operating activities\nincreased compared to 2020 primarily due to higher net\nincome, changes in operational working capital and lower\nseverance payments related to restructuring actions,\npartially offset by higher income tax payments, net of\nrefunds. In 2021, free cash flow increased compared to\n2020 primarily due to higher cash provided by operating\nactivities adjusted for payments for certain acquisition-\nrelated transaction costs, partially offset by higher\npurchases of property, plant and equipment.\nOutlook\nIn addition to the continued uncertain impact of\nCOVID-19 on our businesses and including the impact of\nour Vestcom acquisition, certain factors that we believe\nmay contribute to our 2022 results are described below.\n• We expect net sales to increase by approximately\n8% to 11%, reflecting in part a decrease of\napproximately 3% from the effect of foreign\ncurrency translation and an increase of\napproximately 3% from the effect of acquisitions.\n• Based on recent exchange rates, we expect foreign\ncurrency translation to decrease our operating\nincome by approximately $35 million.\n• We expect fixed and IT capital expenditures to be\napproximately $350 million.\n• We expect our full year effective tax rate to be in\nthe mid-twenty percent range.\n6 2021 Annual Report | Avery Dennison Corporation\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except\npercentages) 2021 2020 2019\nNet sales $8,408.3 $6,971.5 $7,070.1\nCost of products sold 6,095.5 5,048.2 5,166.0\nGross profit Marketing, general and\n2,312.8 1,923.3 1,904.1\nadministrative expense 1,248.5 1,060.5 1,080.4\nOther expense (income), net 5.6 53.6 53.2\nInterest expense 70.2 70.0 75.8\nOther non-operating\nexpense (income), net (4.1) 1.9 445.2\nIncome before taxes $ 992.6 $ 737.3 $ 249.5\nGross profit margin 27.5% 27.6% 26.9%\nGross Profit Margin\nGross profit margin in 2021 decreased slightly\ncompared to 2020 primarily reflecting the net impact of\nhigher sales prices, higher raw material costs and higher\nfreight costs, the impact of prior-year temporary cost\nreduction actions and higher employee-related costs,\npartially offset by favorable volume/mix and the benefits\nfrom productivity initiatives, including temporary cost\nreduction actions, material re-engineering and savings\nfrom restructuring actions, net of transition costs.\nGross profit margin in 2020 increased compared to\n2019 primarily reflecting the net benefit of pricing and raw\nmaterial input costs and the benefits from productivity\ninitiatives, including temporary cost reduction actions,\nmaterial re-engineering and savings from restructuring\nactions, net of transition costs, partially offset by the net\nimpact of lower volume and unfavorable product mix.\nMarketing, General and Administrative Expense\nMarketing, general and administrative expense\nincreased in 2021 compared to 2020 primarily due to higher\nemployee-related costs including the impact of acquisitions,\ngrowth investments, the impact of prior-year temporary cost\nreduction actions and unfavorable currency translation,\npartially offset by lower allowance for credit losses.\nMarketing, general and administrative expense\ndecreased in 2020 compared to 2019 primarily due to\nbenefits from productivity initiatives, including temporary\ncost reduction actions, and savings from restructuring\nactions, net of transition costs, as well as favorable foreign\ncurrency translation, partially offset by the impact of our\nSmartrac acquisition, increased allowance for credit losses\nand our contribution to the Avery Dennison Foundation.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000277_segments",
      "report_id": "ID_000277",
      "company_name": "Avery Dennison",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Label and Graphic Materials; Retail Branding and Information Solutions; Industrial and Healthcare Materials",
      "golden_context": "Page 54:\n\nunts reflected in our tax provision for (benefit from)\nincome taxes and the related liabilities. To date, we and\nour U.S. subsidiaries have completed the IRS’ Compliance\nAssurance Process Program through 2018. With limited\nexceptions, we are no longer subject to income tax\nexaminations by tax authorities for years prior to 2010.\nNOTE 15. SEGMENT AND DISAGGREGATED REVENUE\nINFORMATION\nSegment Reporting\nWe have the following reportable segments:\n• Label and Graphic Materials – manufactures and sells\npressure-sensitive label and packaging materials and\nfilms for graphic and reflective products;\n• Retail Branding and Information Solutions – designs,\nmanufactures and sells a wide variety of branding and\ninformation solutions, including brand and price\ntickets, tags and labels (including RFID inlays), and\nrelated services, supplies and equipment; and\n• Industrial and Healthcare Materials – manufactures\nand sells performance tapes and other adhesive\nproducts for industrial, medical and other\napplications, as well as fastener solutions.\nIntersegment sales are recorded at or near market\nprices and are eliminated in determining consolidated\nsales. We evaluate our performance based on income\nfrom operations before interest expense and taxes.\nCorporate expense is excluded from the computation of\nincome from operations for the segments.\nWe do not disclose total assets by reportable\nsegment since we neither generate nor review that\ninformation internally. As our reporting structure is neither\norganized nor reviewed internally by country, results by\nindividual country are not provided.\nDisaggregated Revenue Information\nDisaggregated revenue information is shown below in\nthe manner that best depicts how the nature, amount, timing\nand uncertainty of our revenue and cash flows are affected\nby economic factors. Revenue from our LGM reportable\nsegment is attributed to geographic areas based on the\nlocation from which products are shipped. Revenue from our\nRBIS reportable segment is shown by product group",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_cash_flow",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 961m, free cash flow: 667.3m",
      "golden_context": "Page 30:\n\nction Actions\nIn 2022 and 2021, we realized approximately $26 million and $65 million, respectively, in savings from\nrestructuring, net of transition costs, primarily related to our 2019/2020 actions.\nRestructuring charges were included in “Other expense (income), net” in the Consolidated Statements of Income.\nRefer to Note 13, “Cost Reduction Actions,” to the Consolidated Financial Statements for more information.\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2022 2021 2020\nNet cash provided by operating activities $ 961.0 $ 1,046.8 $ 751.3\nPurchases of property, plant and equipment (278.1) (255.0) (201.4)\nPurchases of software and other deferred charges (20.4) (17.1) (17.2)\nProceeds from sales of property, plant and equipment 2.3 1.1 9.2\nProceeds from insurance and sales (purchases) of investments, net 1.9 3.1 5.6\nPayments for certain acquisition-related transaction costs .6 18.8 —\nFree cash flow $ 667.3 $ 797.7 $ 547.5\nIn 2022, cash flow provided by operating activities decreased compared to 2021 primarily due to changes in\noperational working capital, higher incentive compensation payments and the timing of payroll payments, partially offset\nby higher net income and lower income tax payments, net of refunds. In 2022, free cash flow decreased compared to\n2021 primarily due to lower cash provided by operating activities adjusted for payments for certain acquisition-related\ntransaction costs and higher purchases of property, plant and equipment.\nAvery Dennison Corporation | 2022 A",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_company_type",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 2:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022 or\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-7685\nAVERY DENNISON CORPORATION\n(Exact Name of Registrant as Specified in Its Charter)\nDelaware 95-1492269\n(State of Incorporation) (I.R.S. Employer Identification No.)\n8080 Norton Parkway\n(Address of Principal Executive Offices) Mentor, Ohio 44060\n(Zip Code)\nRegistrant’s telephone number, including area code:\n(440) 534-6000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nCommon stock, $1 par value AVY New York Stock Exchange\n1.25% Senior Notes due 2025 AVY25 Nasdaq Stock Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNot applicable.\nIndicate by a check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes È No ‘\nIndicate by a check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer È Accelerated filer ‘ Title of Each Class Non-accelerated filer ‘ Smaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘\nIndicate by check mark whether the registrant has filed a report on and attestation its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared or\nissued its audit report. È\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_key_financials",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net income 757m. Free cash flow: 667.3m",
      "golden_context": "Page 29:\n\nt Income\nNet income increased from approximately $740 million in 2021 to approximately $757 million in 2022. The major\nfactors affecting this increase were:\n• The net benefit of pricing, freight, energy and raw material costs, including material re-engineering\n• Higher income from acquisitions, net of associated amortization of other intangibles\n• Lower transaction and related costs\nOffsetting factors:\n• Lower volume due to inventory destocking\n• Unfavorable foreign currency translation\n• Growth investments\n• Higher employee-related costs\nAcquisitions\nSubsequent to our fiscal year-end 2022, in January 2023, we entered into an agreement to acquire Thermopatch,\nInc., a New York-based manufacturer specializing in labeling, embellishments, and transfers for the sports, industrial\nlaundry, workwear and hospitality industries. We believe this acquisition will expand the product portfolio in our Solutions\nGroup reportable segment. We expect to complete this acquisition in the first quarter of 2023.\n2022 Acquisitions\nIn January 2022, we completed our acquisitions of TexTrace AG (“TexTrace”), a Switzerland-based technology\ndeveloper specializing in custom-made woven and knitted RFID products that can be sewn onto or inserted into\ngarments, and Rietveld Serigrafie B.V. and Rietveld Screenprinting Serigrafi Baski Matbaa Tekstil Ithalat Ihracat Sanayi ve\nTicaret Limited Sirketi (collectively, “Rietveld”), a Netherlands-based provider of external embellishment solutions and\napplication and printing methods for performance brands and team sports in Europe. These acquisitions expanded the\nproduct portfolio in our Solutions Group reportable segment. The acquisitions of TexTrace and Rietveld are referred to\ncollectively as the “2022 Acquisitions.”\nThe aggregate purchase consideration for the 2022 Acquisitions was approximately $35 million. We funded the\n2022 Acquisitions using cash and commercial paper borrowings. In addition to the cash paid at closing, the sellers in one\nof these acquisitions are eligible for earn-out payments of up to $30 million, subject to the acquired company achieving\ncertain post-acquisition performance targets. As of the acquisition da\n\nPage 30:\n\ner to Note 13, “Cost Reduction Actions,” to the Consolidated Financial Statements for more information.\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2022 2021 2020\nNet cash provided by operating activities $ 961.0 $ 1,046.8 $ 751.3\nPurchases of property, plant and equipment (278.1) (255.0) (201.4)\nPurchases of software and other deferred charges (20.4) (17.1) (17.2)\nProceeds from sales of property, plant and equipment 2.3 1.1 9.2\nProceeds from insurance and sales (purchases) of investments, net 1.9 3.1 5.6\nPayments for certain acquisition-related transaction costs .6 18.8 —\nFree cash flow $ 667.3 $ 797.7 $ 547.5\nIn 2022, cash flow provided by operating activities decreased compared to 2021 primarily due to changes in\noperational working capital, higher incentive compensation payments and the timing of payroll payments, partially offset\nby higher net income and lower income tax payments, net of refunds. In 2022, free cash flow decreased compared to\n2021 primarily due to lower cash provided by operating activities adjusted for payments for certain acquisition-related\ntransaction costs and higher purchases of prop",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_revenue",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "9039.3m",
      "golden_context": "Page 31:\n\nk\nCertain factors that we believe will contribute to our 2023 results are described below.\n• We expect net sales to increase by approximately 0% to 4%, in part reflecting a decrease of approximately\n1% from the impact of foreign currency translation.\n• We anticipate incremental savings from restructuring actions, net of transition costs, of approximately\n$45 million.\n• We expect our full-year effective tax rate to be in the mid-twenty percent range.\n• We expect fixed and IT capital expenditures to be approximately $350 million.\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except percentages) 2022 2021 2020\nNet sales Cost of products sold $ 9,039.3 $ 8,408.3 $ 6,971.5\n6,635.1 6,095.5 5,048.2\nGross profit 2,404.2 2,312.8 1,923.3\nMarketing, general and administrative expense 1,330.8 1,248.5 1,060.5\nOther expense (income), net (.6) 5.6 53.6\nInterest expense 84.1 70.2 70.0\nOther non-operating expense (income), net (9.4) (4.1) 1.9\nIncome before taxes $ 999.3 $ 992.6 $ 737.3\nGross profit margin 26.6 % 27.5 % 27.6 %\nGross Profit Margin\nGross profit margin in 2022 decreased compared to 2021 primarily due the net impact of higher selling prices,\nhigher raw material costs and higher freight costs, as well as higher employee-related costs, partially offset by higher\nvolume/mix primarily related to the impact of acquisitions.\nGross profit margin in 2021 decreased slightly compared to 2020 primarily reflecting the net impact of higher\nselling prices, higher raw material costs and higher freight costs, the impact of prior-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_revenue_growth",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "9039.3m, 8408.3m prior year",
      "golden_context": "Page 31:\n\nk\nCertain factors that we believe will contribute to our 2023 results are described below.\n• We expect net sales to increase by approximately 0% to 4%, in part reflecting a decrease of approximately\n1% from the impact of foreign currency translation.\n• We anticipate incremental savings from restructuring actions, net of transition costs, of approximately\n$45 million.\n• We expect our full-year effective tax rate to be in the mid-twenty percent range.\n• We expect fixed and IT capital expenditures to be approximately $350 million.\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except percentages) 2022 2021 2020\nNet sales Cost of products sold $ 9,039.3 $ 8,408.3 $ 6,971.5\n6,635.1 6,095.5 5,048.2\nGross profit 2,404.2 2,312.8 1,923.3\nMarketing, general and administrative expense 1,330.8 1,248.5 1,060.5\nOther expense (income), net (.6) 5.6 53.6\nInterest expense 84.1 70.2 70.0\nOther non-operating expense (income), net (9.4) (4.1) 1.9\nIncome before taxes $ 999.3 $ 992.6 $ 737.3\nGross profit margin 26.6 % 27.5 % 27.6 %\nGross Profit Margin\nGross profit margin in 2022 decreased compared to 2021 primarily due the net impact of higher selling prices,\nhigher raw material costs and higher freight costs, as well as higher employee-related costs, partially offset by higher\nvolume/mix primarily related to the impact of acquisitions.\nGross profit margin in 2021 decreased slightly compared to 2020 primarily reflecting the net impact of higher\nselling prices, higher raw material costs and higher freight costs, the impact of prior-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000278_segments",
      "report_id": "ID_000278",
      "company_name": "Avery Dennison",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Materials Group; Solutions Group",
      "golden_context": "Page 5:\n\nwebsite at www.averydennison.com. Our website address provided in this Annual Report on Form 10-K is not\nintended to function as a hyperlink and the information on our website is not, nor should it be considered, part of this\nreport or incorporated by reference into this report.\nBusiness Overview and Reportable Segments\nWe are a global materials science and digital identification solutions company that provides branding and\ninformation labeling solutions, including pressure-sensitive materials, radio-frequency identification (“RFID”) inlays and\ntags, and a variety of converted products and solutions. We design and manufacture a wide range of labeling and\nfunctional materials that enhance branded packaging, carry or display information that connects the physical and the\ndigital, and improve customers’ product performance. We serve an array of industries worldwide, including home and\npersonal care, apparel, e-commerce, logistics, food and grocery, pharmaceuticals and automotive.\nIn the fourth quarter of 2022, we changed our operating structure to align with our overall business strategy, and\nour Chief Executive Officer, who is also our chief operating decision maker, requested changes in the information that he\nregularly reviews to allocate resources and assess performance. As a result, our fiscal year 2022 results are reported\nbased on our new reportable segments described below and in Note 15, “Segment Information.” We have recast prior\nperiods to reflect our new operating structure.\nOur reportable segments for fiscal year 2022 were:\n• Materials Group; and\n• Solutions Group\nThese segment changes resulted in a new segment, Materials Group, consisting of our former Label and Graphic\nMaterials segment and Industrial and Healthcare Materials segment. Additionally, our formerly named Retail Branding\nand Information Solutions segment is referred to as Solutions Group.\nIn 2022, our Materials Group and Solutions Group reportable segments made up approximately 72% and 28%,\nrespectively, of our total net sales.\nIn 2022, international operations constituted a substantial majority of our business, representing approximately\n72% of our net sales. As of December 31, 2022, we operated nearly 200 manufacturing and distribution facilities in over\n50 countries.\nMaterials Group\nOur Materials Group business is a leading solutions provider to the pressure-sensitive label and graphics industries\nworldwide. Our label materials enhance shelf appeal for brands, inform shoppers and improve operational supply chain\nefficiency. Our graphics solutions include a comprehensive portfolio of highly engineered materials that range from\nvehicle wraps to architectural products. The Materials Group plays a key role in advancing our fast-growing intelligent\nlabels platform, providing the materials science capabilities and process engineering expertise that are essential to\ndeveloping and manufacturing intelligent labels at scale.\nMaterials Group manufactur",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_cash_flow",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Net cash provided by operating activities: 826m, adjusted free cash flow: 591.9m",
      "golden_context": "Page 31:\n\nontinued through fiscal year 2022.\nWe realized approximately $69 million and $26 million, respectively, in savings from restructuring, net of transition\ncosts, primarily related to our 2023 actions in 2023 and our 2019/2020 actions in 2022.\nRestructuring charges were included in “Other expense (income), net” in the Consolidated Statements of Income.\nRefer to Note 13, “Cost Reduction Actions,” to the Consolidated Financial Statements for more information.\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2023 2022 2021\nNet cash provided by operating activities $ 826.0 $ 961.0 $1,046.8\nPurchases of property, plant and equipment (265.3) (278.1) (255.0)\nPurchases of software and other deferred charges (19.8) (20.4) (17.1)\nProceeds from company-owned life insurance policies 48.1 — —\nProceeds from sales of property, plant and equipment 1.0 2.3 1.1\nProceeds from insurance and sales (purchases) of investments, net 1.9 1.9 3.1\nPayments for certain acquisition-related transaction costs — .6 18.8\nAdjusted free cash flow $ 591.9 $ 667.3 $ 797.7\nIn 2023, net cash provided by operating activities decreased compared to 2022 primarily due to lower net income\nand higher tax payments, net of refunds, partially offset by changes in operational working capital and lower incentive\ncompensation payments. In 2023, adjusted free cash flow decreased compared to 2022 primarily due to lower net cash\nprovided by operating activities, partially offset by higher proceeds from company-owned life insurance policies and\nlower purchases of property, plant and equipme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_company_type",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 2:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\nÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 30, 2023 or\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-7685\nAVERY DENNISON CORPORATION\n(Exact Name of Registrant as Specified in Its Charter)\nDelaware 95-1492269\n(State of Incorporation) (I.R.S. Employer Identification No.)\n8080 Norton Parkway\n(Address of Principal Executive Offices) Mentor, Ohio 44060\n(Zip Code)\nTitle of Each Class Registrant’s telephone number, including area code:\n(440) 534-6000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nCommon stock, $1 par value AVY New York Stock Exchange\n1.25% Senior Notes due 2025 AVY25 Nasdaq Stock Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNot applicable.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer È Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘\nEmerging ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_key_financials",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "net sales 8'364.3m, income before taxes 694.7m, gross profit margin 27.2%",
      "golden_context": "Page 31:\n\nontinued through fiscal year 2022.\nWe realized approximately $69 million and $26 million, respectively, in savings from restructuring, net of transition\ncosts, primarily related to our 2023 actions in 2023 and our 2019/2020 actions in 2022.\nRestructuring charges were included in “Other expense (income), net” in the Consolidated Statements of Income.\nRefer to Note 13, “Cost Reduction Actions,” to the Consolidated Financial Statements for more information.\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2023 2022 2021\nNet cash provided by operating activities $ 826.0 $ 961.0 $1,046.8\nPurchases of property, plant and equipment (265.3) (278.1) (255.0)\nPurchases of software and other deferred charges (19.8) (20.4) (17.1)\nProceeds from company-owned life insurance policies 48.1 — —\nProceeds from sales of property, plant and equipment 1.0 2.3 1.1\nProceeds from insurance and sales (purchases) of investments, net 1.9 1.9 3.1\nPayments for certain acquisition-related transaction costs — .6 18.8\nAdjusted free cash flow $ 591.9 $ 667.3 $ 797.7\nIn 2023, net cash provided by operating activities decreased compared to 2022 primarily due to lower net income\nand higher tax payments, net of refunds, partially offset by changes in operational working capital and lower incentive\ncompensation payments. In 2023, adjusted free cash flow decreased compared to 2022 primarily due to lower net cash\nprovided by operating activities, partially offset by higher proceeds from company-owned life insurance policies and\nlower purchases of property, plant and equipme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_revenue",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 8'364.3m",
      "golden_context": "Page 31:\n\n• We expect our full-year effective tax rate to be in the mid-twenty percent range.\nANALYSIS OF RESULTS OF OPERATIONS\nIncome before Taxes\n(In millions, except percentages) 2023 2022 2021\nNet sales $8,364.3 $9,039.3 $8,408.3\nCost of products sold 6,086.8 6,635.1 6,095.5\nGross profit 2,277.5 2,404.2 2,312.8\nMarketing, general and administrative expense 1,313.7 1,330.8 1,248.5\nOther expense (income), net 180.9 (.6) 5.6\nInterest expense 119.0 84.1 70.2\nOther non-operating expense (income), net (30.8) (9.4) (4.1)\nIncome before taxes $ 694.7 $ 999.3 $ 992.6\nGross profit margin 27.2 % 26.6 % 27.5 %\nGross Profit Margin\nGross profit margin in 2023 increased compared to 2022 primarily due to benefits from productivity initiatives,\nincluding temporary cost-saving actions, material re-engineering and savings from restructuring actions, net of transition\ncosts, and the net impact of pricing and raw material inputs costs, partially offset by lower volume and higher employee-\nrelated costs.\nGross profit margin in 2022 decreased compared to 2021 primarily due to the net impact of higher selling prices,\nhigher raw material costs and higher freight costs, as well as higher employee-related costs, partially offset by higher\nvolume/mix primarily related to the impact of acquisitions.\nMarketing, General and Administrative Expense\nMarketing, general and administrative expense decreased in 2023 compared to 2022 primarily due to benefits\nfrom productivity initiatives, including temporary cost-saving actions and savings from restructuring actions, net of\ntransition costs, partially offset by higher employee-related costs and growth investments.\nMarketing, general and administrative expense increased in 2022 co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_revenue_growth",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 8'364.3m, prior year: 9'039.3m",
      "golden_context": "Page 31:\n\nontinued through fiscal year 2022.\nWe realized approximately $69 million and $26 million, respectively, in savings from restructuring, net of transition\ncosts, primarily related to our 2023 actions in 2023 and our 2019/2020 actions in 2022.\nRestructuring charges were included in “Other expense (income), net” in the Consolidated Statements of Income.\nRefer to Note 13, “Cost Reduction Actions,” to the Consolidated Financial Statements for more information.\nAccounting Guidance Updates\nRefer to Note 1, “Summary of Significant Accounting Policies,” to the Consolidated Financial Statements for this\ninformation.\nCash Flow\n(In millions) 2023 2022 2021\nNet cash provided by operating activities $ 826.0 $ 961.0 $1,046.8\nPurchases of property, plant and equipment (265.3) (278.1) (255.0)\nPurchases of software and other deferred charges (19.8) (20.4) (17.1)\nProceeds from company-owned life insurance policies 48.1 — —\nProceeds from sales of property, plant and equipment 1.0 2.3 1.1\nProceeds from insurance and sales (purchases) of investments, net 1.9 1.9 3.1\nPayments for certain acquisition-related transaction costs — .6 18.8\nAdjusted free cash flow $ 591.9 $ 667.3 $ 797.7\nIn 2023, net cash provided by operating activities decreased compared to 2022 primarily due to lower net income\nand higher tax payments, net of refunds, partially offset by changes in operational working capital and lower incentive\ncompensation payments. In 2023, adjusted free cash flow decreased compared to 2022 primarily due to lower net cash\nprovided by operating activities, partially offset by higher proceeds from company-owned life insurance policies and\nlower purchases of property, plant and equipme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000279_segments",
      "report_id": "ID_000279",
      "company_name": "Avery Dennison",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Materials Group; Solutions Group",
      "golden_context": "Page 5:\n\nkground\nAvery Dennison Corporation (“Avery Dennison” or the “Company” and generally referred to as “we” or “us”) was\nincorporated in Delaware in 1977 as Avery International Corporation, the successor corporation to a California\ncorporation of the same name incorporated in 1946. In 1990, we merged one of our subsidiaries into Dennison\nManufacturing Company (“Dennison”), as a result of which Dennison became our wholly-owned subsidiary and in\nconnection with which we changed our name to Avery Dennison Corporation. You can learn more about us by visiting our\nwebsite at www.averydennison.com. Our website address provided in this Annual Report on Form 10-K is not intended\nto function as a hyperlink and the information on our website is not, nor should it be considered, part of this report or\nincorporated by reference into this report.\nBusiness Overview and Reportable Segments\nWe are a global materials science and digital identification solutions company that provides a wide range of\nbranding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability,\ncircularity and transparency, and better connect brands and consumers. Our products and solutions include labeling and\nfunctional materials, radio-frequency identification (“RFID”) inlays and tags, software applications that connect the\nphysical and digital, and a variety of products and solutions that enhance branded packaging and carry or display\ninformation that improves the customer experience. We serve an array of industries worldwide, including home and\npersonal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive.\nOur reportable segments for fiscal year 2023 were:\n• Materials Group; and\n• Solutions Group\nIn 2023, our Materials Group and Solutions Group reportable segments comprised approximately 69% and 31%,\nrespectively, of our total net sales.\nIn 2023, international operations constituted a substantial majority of our business, representing approximately\n69% of our net sales. As of December 30, 2023, we operated over 200 manufacturing and distribution facilities in more\nthan 50 countries.\nMaterials Group\nOur Materials Group business is a leading provider to pressure-sensitive label and graphics industries worldwide.\nOur innovative products include label materials, graphics and reflective materials and functional bonding materials, such\nas tapes. Our label materials enhance shelf appeal for brands, inform shoppers, advance circularity, increase transparency,\nhelp reduce waste and improve operational supply chain efficiency. Our graphics portfolio offers highly engineered\nmaterials that range from vehicle wraps to architectural films. Materials Group plays a key role in advancing our fast-\ngrowing intelligent labels busin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_cash_flow",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 654.2m, investing: -142.7m, financing: -522.8m, cash flow: -11.7m",
      "golden_context": "Page 49:\n\nources and Uses of Cash\nThe following table illustrates the main components of our cash flows:\n(In millions) Fiscal Year Ended\nJanuary 2, 2022 January 3, 2021\nCash flows provided by (used in)\nNet cash provided by operating activities $ 654.2 $ 592.8\nNet cash used in investing activities (142.7 ) Net cash used in financing activities (522.8 ) Effect of exchange rate changes on cash (0.3 ) Change in cash and cash equivalents, restricted cash and cash equivalents $ Operating Activities\n(128.9 )\n(446.4 )\n0.8\n(11.7 ) $ 18.2\nCash provided by operating activities increased $61.4 million in 2021 primarily due to the positive impact of\nchanges in operating assets and liabilities of $63.9 million. The positive impact of changes in operating assets and\nliabilities related to the timing of collections on accounts receivable, payments on accounts payable and accrued\nliabilities and income tax payments in 2021 as compared to 2020. The increase in cash provided by operating\nactivities was also due to a $16.4 million positive impact of changes in advertising fund assets and liabilities,\nrestricted, in 2021 as compared to 2020 due to the receipt of advertising contributions outpacing payments for\nadvertising activities. Additionally, while net income increased $19.2 million, this was comprised of a $38.2 million\nincrease in non-cash transactions, resulting in an overall decrease to cash provided by operating activities in 2021 as\ncompared to 2020 of $18.9 million.\nWe are focused on continually improving our net income and cash flow from operations and management expects to\ncontinue to generate positive cash flows from operating activities for the foreseeable future.\nInvesting Activities\nCash used in investing activities was $142.7 million in 2021 which consisted primarily of capital expenditures of\n$94.2 million (driven primarily by investments in technological initiatives, supply chain centers and Company-\nowned stores) and our investments in DPC Dash of $49.1 million.\nCash used in investing activities was $128.9 million in 2020, which consisted primarily of capital expenditures of\n$88.8 million (driven primarily by investments in supply chain centers, technological initiatives and Company-\nowned stores) and our investment in DPC Dash of $40.0 million.\nFinancing Activities\nCash used in financing activit",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_company_type",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 2, 2022\nor\n[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number 001-32242\nDomino’s Pizza, Inc.\n(Exact name of registrant as specified in its charter)\nDELAWARE\n(State or other jurisdiction of\nincorporation or organization)\n38-2511577\n(I.R.S. Employer\nIdentification No.)\n30 Frank Lloyd Wright Drive\nAnn Arbor, Michigan\n(Address of principal executive offices)\n48105\n(Zip Code)\nRegistrant’s telephone number, including area code (734) 930-3030\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Domino’s Pizza, Inc. Common Stock, $0.01 par value DPZ Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:\nYes [X] No [ ]\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act:\nYes [ ] No [X]\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days: Yes [X] No [ ]\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that\nthe registrant was required to submit such files): Yes [X] No [ ]\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer [X] Accelerated filer [ ]\nNon-accelerated filer [ ] Smaller reporting company [ ]\nEmerging growth company [ ]\nIf emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the\neffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b))\nby the registered public accounting firm that prepared or issued its audit report. [X]\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act): Yes [ ] No [X]\nThe aggregate market value of the voting and non-voting common stock held by non-affiliates of Domino’s Pizza, Inc. as of June\n20, 2021 computed by reference to the closing price of Domino’s Pizza, Inc.’s common stock on the New York Stock Exchange on\nsuch date was $16,864,015,144.\nAs of February 22, 2022, Domino’s Pizza, Inc. had 36,036,184 shares of common stock, par value $0.01 per share, outstanding.\nDocuments incorporated by reference:\nPortions of the definitive proxy statement to be furnished to shareholders of Domino’s Pizza, Inc. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_key_financials",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net income from operations 780.4m, net income 510.5m",
      "golden_context": "Page 2:\n\nowned 479.0 485.6 453.6\nU.S. Franchise Advertising 479.5 462.2 390.8\nSupply Chain 2,561.0 2,416.7 2,104.9\nInternational Franchise Royalties and Fees 298.0 249.8 241.0\nTotal $4,357.4 $4,117.4 $3,618.8\nSame Store Sales Growth2\nU.S. +3.5% +11.5% +3.2%\nInternational +8.0% +4.4% +1.9%\nGlobal Retail Sales3\nU.S. $8,641.4 $8,287.1 $7,044.4\nInternational 9,137.5 7,818.6 7,276.1\nTotal $17,779.0 $16,105.7 $14,320.5\nIncome from Operations $780.4 $725.6 $629.4\nNet Income $510.5 $491.3 $400.7\nDiluted Earnings Per Share $13.54 $12.39 $9.56\nDiluted Earnings Per Share, as adjusted4 $13.60 $12.01 $9.57\nWeighted Average Diluted Shares 37,691,351 39,640,791 41,923,062\n1 The 2021 and 2019 fi scal years each included 52 weeks and the\n2020 fi scal year included 53 weeks.\n2 Performance vs. fi scal years 2020, 2019 and 2018, respectively.\nInternational same store sales growth excludes changes in foreign\ncurrency exchange rates. The 53rd week in fi scal 2020 had no\nimpact on reported same store sales growth amounts.\n3 Global Retail Sales represent sales by our Company-owned and\nfranchised stores. Franchised store retail sales are reported to us\nby our franchisees and are not our revenues. International retail\nsales are reported in U.S. dollars.\n4 Diluted Earnings Per Share, as adjusted, excludes items affecting\ncomparability, as detailed in the respective Company Earnings\nRelease for each of 2021, 2020 and 2019.\n* Outlook does not constitute specifi c earnings or performance\nguidance. Domino’s does not provide quarterly or annual earnings\nguidance.\n** Excluding foreign currency impact.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_revenue",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "4357.4m",
      "golden_context": "Page 2:\n\nINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n20211 20201 20191\nTWO- TO THREE-YEAR OUTLOOK *\nGlobal Net Units:\n+6% to +8%\nGlobal Retail Sales:**\n+6% to +10%\nNet Unit Growth\nU.S. Franchise 193 208 239\nU.S. Company-owned 12 21 11\nInternational 999 395 856\nTotal 1,204 624 1,106\nYear End Store Counts\nU.S. Franchise 6,185 5,992 5,784\nU.S. Company-owned 375 363 342\nInternational 12,288 11,289 10,894\nTotal 18,848 17,644 17,020\nRevenues\nU.S. Franchise Royalties and Fees $539.9 $503.2 $428.5\nU.S. Company-owned 479.0 485.6 453.6\nU.S. Franchise Advertising 479.5 462.2 390.8\nSupply Chain 2,561.0 2,416.7 2,104.9\nInternational Franchise Royalties and Fees 298.0 249.8 241.0\nTotal $4,357.4 $4,117.4 $3,618.8\nSame Store Sales Growth2\nU.S. +3.5% +11.5% +3.2%\nInternational +8.0% +4.4% +1.9%\nGlobal Retail Sales3\nU.S. $8,641.4 $8,287.1 $7,044.4\nInternational 9,137.5 7,818.6 7,276.1\nTotal $17,779.0 $16,105.7 $14,320.5\nIncome from Operations $780.4 $725.6 $629.4\nNet Income $510.5 $491.3 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_revenue_growth",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "4357.4m, prior year 4117.4m",
      "golden_context": "Page 2:\n\nINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n20211 20201 20191\nTWO- TO THREE-YEAR OUTLOOK *\nGlobal Net Units:\n+6% to +8%\nGlobal Retail Sales:**\n+6% to +10%\nNet Unit Growth\nU.S. Franchise 193 208 239\nU.S. Company-owned 12 21 11\nInternational 999 395 856\nTotal 1,204 624 1,106\nYear End Store Counts\nU.S. Franchise 6,185 5,992 5,784\nU.S. Company-owned 375 363 342\nInternational 12,288 11,289 10,894\nTotal 18,848 17,644 17,020\nRevenues\nU.S. Franchise Royalties and Fees $539.9 $503.2 $428.5\nU.S. Company-owned 479.0 485.6 453.6\nU.S. Franchise Advertising 479.5 462.2 390.8\nSupply Chain 2,561.0 2,416.7 2,104.9\nInternational Franchise Royalties and Fees 298.0 249.8 241.0\nTotal $4,357.4 $4,117.4 $3,618.8\nSame Store Sales Growth2\nU.S. +3.5% +11.5% +3.2%\nInternational +8.0% +4.4% +1.9%\nGlobal Retail Sales3\nU.S. $8,641.4 $8,287.1 $7,044.4\nInternational 9,137.5 7,818.6 7,276.1\nTotal $17,779.0 $16,105.7 $14,320.5\nIncome from Operations $780.4 $725.6 $629.4\nNet Income $510.5 $491.3 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000280_segments",
      "report_id": "ID_000280",
      "company_name": "Dominos",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "U.S. stores, international franchise and supply chain",
      "golden_context": "Page 9:\n\ntore Image and Operations\nWe have been focused on pizza delivery for over 60 years, and we also emphasize carryout as a significant\ncomponent of our business. The majority of our U.S. and international stores are constructed in the carryout-friendly\nPizza Theater design. Many of these stores offer casual seating and enable customers to watch the preparation of\ntheir orders, but do not offer a full-service dine-in experience. As a result, our stores generally do not require\nexpensive restaurant facilities and staffing.\nOur Business Segments\nWe operate, and report, three business segments: U.S. stores, international franchise and supply chain.\nU.S. Stores\nDuring 2021, our U.S. stores segment accounted for $1.50 billion, or 34%, of our consolidated revenues. Our U.S.\nstores segment consists primarily of our franchise operations, which consisted of 6,185 franchised stores located in\nthe United States as of January 2, 2022. We also operated a network of 375 U.S. Company-owned stores as of\nJanuary 2, 2022.\nDirectly operating Domino’s stores contributes significantly to our ability to act as a credible franchisor. We also\nuse our Company-owned stores as test sites for technological innovation and promotions as well as operational\nimprovements. We also use them for training new store managers and operations team members, as well as\ndeveloping prospective franchisees. While we are primarily a franchised business, we continuously evaluate our mix\nof U.S. Company-owned and franchise stores. As of January 2, 2022, franchised stores represented approximately\n94% of our total store count within our U.S. stores segment.\nU.S. Franchise Profile\nAs of January 2, 2022, our network of 6,185 U.S. franchise stores was owned and operated by 735 independent U.S.\nfranchisees. Our franchise formula enables franchisees to benefit from our brand recognition with a relatively low\ninitial capital investment. As of January 2, 2022, the average U.S. franchisee owned and operated approximately\neight stores and had been in our franchise system for over 18 years. Additionally, 22 of our U.S. franchisees\noperated more than 50 stores (including our largest U.S. franchisee who operated 177 stores) and 216 of our U.S.\nfranchisees each operated one store, each as of that date.\nWe apply rigorous standards to prospective U.S. franchisees. We",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_cash_flow",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 475.3m, investing: -53.7m, financing: -515.9m",
      "golden_context": "Page 49:\n\nmpany’s common stock. On February 24, 2021, our Board of Directors authorized a new share repurchase\nprogram to repurchase up to $1.0 billion of the Company's common stock, which was fully utilized in connection\nwith the ASR Agreement, described below. On April 30, 2021, we entered into an accelerated share repurchase\nagreement with a counterparty (the “ASR Agreement”). Pursuant to the terms of the ASR Agreement, on May 3,\n2021, we used a portion of the proceeds from the 2021 Recapitalization to pay the counterparty $1.0 billion in cash\nand received and retired 2,012,596 shares of our common stock. Final settlement of the ASR Agreement occurred on\nJuly 21, 2021. In connection with the ASR Agreement, we received and retired a total of 2,250,786 shares of our\ncommon stock at an average price of $444.29, including the 2,012,596 shares of our common stock received and\nretired during the second quarter of 2021.\nOn July 20, 2021, our Board of Directors authorized a new share repurchase program to repurchase up to $1.0\nbillion of our common stock. This repurchase program replaced our previously approved $1.0 billion share\nrepurchase program, which was fully utilized in connection with the ASR Agreement. We had $410.4 million\nremaining under this share repurchase authorization as of January 1, 2023.\nDividends\nWe declared dividends of $157.5 million (or $4.40 per share) in 2022, $139.6 million (or $3.76 per share) in 2021\nand $122.2 million (or $3.12 per share) in 2020. We paid dividends of $157.5 million, $139.4 million and $121.9\nmillion in 2022, 2021 and 2020, respectively.\nOn February 21, 2023, the Company’s Board of Directors declared a quarterly dividend of $1.21 per common share\npayable on March 30, 2023 to shareholders of record at the close of business on March 15, 2023.\nSources and Uses of Cash\nThe following table illustrates the main components of our cash flows:\nFiscal Year Ended\n(In millions) January 1, 2023 January 2, 2022\nCash flows provided by (used in)\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash $ 475.3 (53.7 ) (515.9 ) (1.0 ) $ 654.2\n(142.7 )\n(522.8 )\n(0.3 )\nChange in cash and cash equivalents, restricted cash and cash equivalents $ Operating Activities\n(95.3 ) $ (11.7 )\nCash provided by operating activities decreased $178.9 million in 2022 primarily due to the negative impact of\nchanges in operating assets and liabilities of $80.8 million. The negative impact of changes in operating assets and\nliabilities primarily related to the timing of payments on accrued liabilities and higher cash paid for income taxes in\n2022 as compared to 2021. The decrease was also a result of a $62.7 million negative impact of changes in\nadvertising fund assets and liabilities, restricted, in 2022 as compared to 2021 due to payments for advertising\nactivities outpacing contributions. Additionally, net income decreased $58.2 million. However, this decrease in net\nincome was partially offset by a $22.8 million increase in non-cash adjustments, resulting in an overall decrease to\ncash provided by operating activities in 2022 as compared to 2021 of $35.4 million.\nWe are focused on continually improving our net income and cash flow from operations and man",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_company_type",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 1, 2023\nor\n[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number 001-32242\nDomino’s Pizza, Inc.\n(Exact name of registrant as specified in its charter)\n38-2511577\n(I.R.S. Employer\nIdentification No.)\n48105\n(Zip Code)\nDELAWARE\n(State or other jurisdiction of\nincorporation or organization)\n30 Frank Lloyd Wright Drive\nAnn Arbor, Michigan\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code (734) 930-3030\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Domino’s Pizza, Inc. Common Stock, $0.01 par value DPZ Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:\nYes [X] No [ ]\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act:\nYes [ ] No [X]\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days:\nYes [X] No [ ]\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files):\nYes [X] No [ ]\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer [X] Accelerated filer [ ]\nNon-accelerated filer [ ] Smaller reporting company [ ]\nEmerging growth company [ ]\nIf emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. [X]\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the f",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_key_financials",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "income from operations: 767.9m, net income: 452.3m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n20221 20211 20201\nNet Unit Growth\nU.S. Franchise 124 193 208\nU.S. Company-owned 2 12 21\nInternational 906 999 395\nTotal 1,032 1,204 624\nYear End Store Counts\nU.S. Franchise 6,400 6,185 5,992\nU.S. Company-owned 286 375 363\nInternational 13,194 12,288 11,289\nTotal 19,880 18,848 17,644\nRevenues\nU.S. Franchise Royalties and Fees $556.3 $539.9 $503.2\nU.S. Company-owned Stores 445.8 479.0 485.6\nU.S. Franchise Advertising 485.3 479.5 462.2\nSupply Chain 2,754.7 2,561.0 2,416.7\nInternational Franchise Royalties and Fees 295.0 298.0 249.8\nTotal $4,537.2 $4,357.4 $4,117.4\nSame Store Sales Growth2\nU.S. (0.8)% +3.5% +11.5%\nInternational +0.1% +8.0% +4.4%\nGlobal Retail Sales3\nU.S. $8,751.7 $8,641.4 $8,287.1\nInternational 8,788.2 9,137.5 7,818.6\nTotal $17,539.9 $17,779.0 $16,105.7\nIncome from Operations $767.9 $780.4 $725.6\nNet Income $452.3 $510.5 $491.3\nDiluted Earnings Per Share $12.53 $13.54 $12.39\nDiluted Earnings Per Share, as adjusted4 $12.53 $13.60 $12.01\nWeighted Average Diluted Shares 36,093,754 37,691,351 39,640,791\n1 The 2022 and 2021 fi scal years each included 52 weeks and the 2020 fi scal year included 53 weeks.\n2 Performance vs. fi scal years 2021, 2020 and 2019, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates. The 53rd week in fi scal 2020 had no impact on reported same store sales growth amounts.\n3 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n4 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the respective Company\nEarnings Release for each of 2021 and 2020. No items affected in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_revenue",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "4537.2m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n20221 20211 20201\nNet Unit Growth\nU.S. Franchise 124 193 208\nU.S. Company-owned 2 12 21\nInternational 906 999 395\nTotal 1,032 1,204 624\nYear End Store Counts\nU.S. Franchise 6,400 6,185 5,992\nU.S. Company-owned 286 375 363\nInternational 13,194 12,288 11,289\nTotal 19,880 18,848 17,644\nRevenues\nU.S. Franchise Royalties and Fees $556.3 $539.9 $503.2\nU.S. Company-owned Stores 445.8 479.0 485.6\nU.S. Franchise Advertising 485.3 479.5 462.2\nSupply Chain 2,754.7 2,561.0 2,416.7\nInternational Franchise Royalties and Fees 295.0 298.0 249.8\nTotal $4,537.2 $4,357.4 $4,117.4\nSame Store Sales Growth2\nU.S. (0.8)% +3.5% +11.5%\nInternational +0.1% +8.0% +4.4%\nGlobal Retail Sales3\nU.S. $8,751.7 $8,641.4 $8,287.1\nInternational 8,788.2 9,137.5 7,818.6\nTotal $17,539.9 $17,779.0 $16,105.7\nIncome from Operations $767.9 $780.4 $725.6\nNet Income $452.3 $510.5 $491.3\nDiluted Earnings Per Share $12.53 $13.54 $12.39\nDiluted Earnings Per Share, as adjusted4 $12.53 $13.60 $12.01\nWeighted Average Diluted Shares 36,093,754 37,691,351 39,640,791\n1 The 2022 and 2021 fi scal years each included 52 weeks and the 2020 fi scal year included 53 weeks.\n2 Performance vs. fi scal years 2021, 2020 and 2019, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates. The 53rd week in fi scal 2020 had no impact on reported same store sales growth amounts.\n3 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n4 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the respective Company\nEarnings Release for each of 2021 and 2020. No items affected in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_revenue_growth",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "4537.2m, prior year 4357.4m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n20221 20211 20201\nNet Unit Growth\nU.S. Franchise 124 193 208\nU.S. Company-owned 2 12 21\nInternational 906 999 395\nTotal 1,032 1,204 624\nYear End Store Counts\nU.S. Franchise 6,400 6,185 5,992\nU.S. Company-owned 286 375 363\nInternational 13,194 12,288 11,289\nTotal 19,880 18,848 17,644\nRevenues\nU.S. Franchise Royalties and Fees $556.3 $539.9 $503.2\nU.S. Company-owned Stores 445.8 479.0 485.6\nU.S. Franchise Advertising 485.3 479.5 462.2\nSupply Chain 2,754.7 2,561.0 2,416.7\nInternational Franchise Royalties and Fees 295.0 298.0 249.8\nTotal $4,537.2 $4,357.4 $4,117.4\nSame Store Sales Growth2\nU.S. (0.8)% +3.5% +11.5%\nInternational +0.1% +8.0% +4.4%\nGlobal Retail Sales3\nU.S. $8,751.7 $8,641.4 $8,287.1\nInternational 8,788.2 9,137.5 7,818.6\nTotal $17,539.9 $17,779.0 $16,105.7\nIncome from Operations $767.9 $780.4 $725.6\nNet Income $452.3 $510.5 $491.3\nDiluted Earnings Per Share $12.53 $13.54 $12.39\nDiluted Earnings Per Share, as adjusted4 $12.53 $13.60 $12.01\nWeighted Average Diluted Shares 36,093,754 37,691,351 39,640,791\n1 The 2022 and 2021 fi scal years each included 52 weeks and the 2020 fi scal year included 53 weeks.\n2 Performance vs. fi scal years 2021, 2020 and 2019, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates. The 53rd week in fi scal 2020 had no impact on reported same store sales growth amounts.\n3 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n4 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the respective Company\nEarnings Release for each of 2021 and 2020. No items affected in 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000281_segments",
      "report_id": "ID_000281",
      "company_name": "Dominos",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "U.S. stores, international franchise and supply chain",
      "golden_context": "Page 10-11:\n\nOur Business Segments\nWe operate, and report, three business segments: U.S. stores, international franchise and supply chain.\nU.S. Stores\nDuring 2022, our U.S. stores segment accounted for $1.49 billion, or 33%, of our consolidated revenues. Our U.S.\nstores segment consists primarily of our franchise operations, which consisted of 6,400 franchised stores located in\nthe United States as of January 1, 2023. We also operated a network of 286 U.S. Company-owned stores as of\nJanuary 1, 2023.\nDirectly operating Domino’s stores contributes significantly to our ability to act as a credible franchisor. We also\nuse our Company-owned stores as test sites for technological innovation and promotions as well as operational\nimprovements. We also use them for training new store managers and operations team members, as well as\ndeveloping prospective franchisees. While we are primarily a franchised business, we continuously evaluate our mix\nof U.S. Company-owned and franchised stores. As of January 1, 2023, franchised stores represented approximately\n96% of our total store count within our U.S. stores segment.\nU.S. Franchise Profile\nAs of January 1, 2023, our network of 6,400 U.S. franchise stores was owned and operated by 725 independent U.S.\nfranchisees. Our franchise formula enables franchisees to benefit from our brand recognition with a relatively low\ninitial capital investment. As of January 1, 2023, the average U.S. franchisee owned and operated approximately\nnine stores and had been in our franchise system for over 17 years. Additionally, 22 of our U.S. franchisees operated\nmore than 50 stores (including our largest U.S. franchisee who operated 162 stores) and 204 of our U.S. franchisees\neach operated one store as of January 1, 2023.\nWe apply rigorous standards to prospective U.S. franchisees. We generally require them to manage a store for at\nleast one year and graduate from our franchise management school program before being granted the right to\nfranchise. This enables us to observe the operational and financial performance of a potential franchisee prior to\nentering into a long-term agreement. Substantially all of our independent U.S. franchise owners started their careers\nwith us as delivery drivers or in other in-store positions, which we believe offers advantages in terms of familiarity\nwith our business and store operations. In addition, we generally restrict the ability of U.S. franchisees to be\ninvolved in other businesses, which we believe helps focus our franchisees’ attention on operating their stores. We\nbelieve these characteristics and standards are largely unique within the franchise industry and have resulted in\nqualified and focused franchisees operating Domino’s stores. We maintain a productive relationship with our\nindependent franchise owners through regional franchise teams, distributing materials that help franchise stores\ncomply with our standards and using franchise advisory groups that facilitate communications between us and our\nfranchisees. We consider our relationship with our U.S. franchisees to be good.\nU.S. Franchise Agreements\nWe enter into franchise agreements with U.S. franchisees under which the franchisee is generally granted the right to\noperate a store in a particular location for a term of ten years, with an ability to renew for an additional term of ten\nyears. We had a franchise agreement renewal rate of approximately 99% in 2022. Under the current standard\nfranchise agreement, we assign an exclusive area of primary responsibility to each franchised store. Each franchisee\nis generally required to pay a 5.5% royalty fee on sales, as well as certain technology fees. In certain instances, we\nwill collect lower rates based on certain incentives.\nOur stores in the United States currently contribute 6% of their sales to fund national marketing and advertising\ncampaigns (subject, in certain instances, to lower rates based on certain incentives and waivers). These funds are\nadministered by Domino’s National Advertising Fund Inc. (“DNAF”), our consolidated not-for-profit advertising\nsubsidiary. The funds are primarily used to purchase media for advertising, and also to support market research,\nfield communications, public relations, commercial production, talent payments and other activities to promote the\nDomino’s brand. In addition to the national and market-level advertising contributions, U.S. stores generally spend\nadditional funds on local store marketing activities.\nWe have the contractual right, subject to state law, to terminate a franchise agreement for a variety of reasons,\nincluding, but not limited to, a franchisee’s failure to adhere to the Company’s franchise agreement, failure to make\nrequired payments or failure to adhere to specified Company policies and standards.\n6\nInternational Franchise\nDuring 2022, our international franchise segment accounted for $295.0 million, or 6%, of our consolidated revenues.\nThis segment is comprised of a network of franchised stores in over 90 international markets. As of January 1, 2023,\nwe had 13,194 international franchise stores. The principal sources of revenues from those operations are royalty\npayments generated by retail sales from franchised stores, as well as certain technology fees.\nOur international franchisees employ our basic standard operating model and adapt it to satisfy the local eating\nhabits and consumer preferences of various regions outside the U.S. Currently, the vast majority of our international\nstores operate under master franchise agreements.\nWe believe that Domino’s appeals to potential international franchisees because of our recognized brand name and\ntechnological leadership, the moderate capital expenditures required to open and operate the stores and the system’s\ndesirable store-level profitability. Stores in seven of our ten largest international markets in terms of store count are\noperated by master franchise companies that are publicly traded on stock exchanges as noted in the below table. The\nfollowing table shows our store count as of January 1, 2023 in our ten largest international markets, which\naccounted for approximately 63% of our international stores as of that date.\nMarket Number of stores\nIndia (JUBLFOOD: NS) 1,758\nUnited Kingdom (DOM: L) Japan (DMP: ASX) 1,197\n957\nMexico (ALSEA: MX) 842\nAustralia (DMP: ASX) 756\nTurkey (DPEU: L) China 650\n589\nCanada 585\nFrance (DMP: ASX) 487\nSouth Korea 480\nInternational Franchisee Profile\nThe vast majority of our markets outside of the U.S. are operated by master franchisees with franchise and\ndistribution rights for entire regions or countries. In a few select markets, we franchise directly to individual store\noperators. Prospective master franchisees are required to possess local market knowledge to establish and develop\nDomino’s stores, with the ability to id",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_cash_flow",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 590.9m, investing: -106.9m, financing: -476.4m, total cash flow: 7.9m",
      "golden_context": "Page 53:\n\nin 2023, $293.7 million in 2022 and $1.32 billion in 2021 for share repurchases.\nOn October 4, 2019, our Board of Directors authorized a share repurchase program to repurchase up to $1.0 billion\nof our common stock. On February 24, 2021, our Board of Directors authorized a new share repurchase program to\nrepurchase up to $1.0 billion of our common stock, which was fully utilized in connection with the ASR Agreement,\ndescribed below. On April 30, 2021, we entered into an accelerated share repurchase agreement with a counterparty\n(the “ASR Agreement”). Pursuant to the terms of the ASR Agreement, on May 3, 2021, we used a portion of the\nproceeds from the 2021 Recapitalization to pay the counterparty $1.0 billion in cash and received and retired\n2,012,596 shares of our common stock. Final settlement of the ASR Agreement occurred on July 21, 2021. In\nconnection with the ASR Agreement, we received and retired a total of 2,250,786 shares of our common stock at an\naverage price of $444.29, including the 2,012,596 shares of our common stock received and retired during the\nsecond quarter of 2021.\nOn July 20, 2021, our Board of Directors authorized a new share repurchase program to repurchase up to $1.0\nbillion of our common stock. This repurchase program replaced our previously approved $1.0 billion share\nrepurchase program, which was fully utilized in connection with the ASR Agreement. We had $141.3 million\nremaining under this share repurchase authorization as of December 31, 2023.\nSubsequent to the end of fiscal 2023, on February 21, 2024, our Board of Directors authorized an additional share\nrepurchase program to repurchase up to $1.0 billion of our common stock, in addition to the $141.3 million that was\npreviously remaining for a total authorization of $1.14 billion for future share repurchases.\nDividends\nWe declared dividends of $170.4 million (or $4.84 per share) in 2023, $157.5 million (or $4.40 per share) in 2022\nand $139.6 million (or $3.76 per share) in 2021. We paid dividends of $169.8 million, $157.5 million and $139.4\nmillion in 2023, 2022 and 2021, respectively.\nSubsequent to the end of fiscal 2023, on February 21, 2024, our Board of Directors declared a quarterly dividend of\n$1.51 per common share payable on March 29, 2024 to shareholders of record at the close of business on March 15,\n2024.\nSources and Uses of Cash\nThe following table illustrates the main components of our cash flows:\nFiscal Year Ended\nDecember 31,\n(In millions)\n2023 January 1, 2023\nCash flows provided by (used in)\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash $ 590.9 (106.9 ) (476.4 ) 0.3 $ 475.3\n(53.7 )\n(515.9 )\n(1.0 )\nChange in cash and cash equivalents, restricted cash and cash equivalents $ Operating Activities\n7.9 $ (95.3 )\nCash provided by operating activities increased $115.5 million in 2023 primarily due to the positive impact of\nchanges in operating assets and liabilities of $93.5 million. The positive impact of changes in operating assets and\nliabilities primarily related to the timing of payments on accrued liabilities, accounts payable and income taxes, as\nwell as the timing and pricing of inventory in 2023 as compared to 2022. Additionally, net income increased $66.9\nmillion and non-cash adjustments decreased $9.7 million, resulting in an overall increase to cash provided by\noperating activities in 2023 as compared to 2022 of $57.2 million. These increases in cash provided by operating\nactivities were partially offset by a $35.2 million negative impact of changes in advertising fund assets and\nliabilities, restricted, in 2023 as compared to 2022 due to payments for advertising activities outpacing receipts from\nadvertising contributions.\nWe are focused on continually improving our net income and cash flow provided by operating activities and\nmanagement expects to continue to generate positive cash flows from operating activities for the foreseeable future.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_company_type",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number 001-32242\nDomino’s Pizza, Inc.\n(Exact name of registrant as specified in its charter)\n38-2511577\n(I.R.S. Employer\nIdentification No.)\n48105\n(Zip Code)\nDELAWARE\n(State or other jurisdiction of\nincorporation or organization)\n30 Frank Lloyd Wright Drive\nAnn Arbor, Michigan\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code (734) 930-3030\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Domino’s Pizza, Inc. Common Stock, $0.01 par value DPZ Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:\nYes [X] No [ ]\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act:\nYes [ ] No [X]\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days:\nYes [X] No [ ]\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files):\nYes [X] No [ ]\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer [X] Non-accelerated filer [ ] Accelerated filer [ ]\nSmaller reporting company [ ]\nEmerging growth company [ ]\nIf emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_key_financials",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "4479.4m revenues, income from operations 819.5m, net income: 519.1m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n2023 2022 2021\nNet Unit Growth\nU.S. Franchise 165 124 193\nU.S. Company-owned 3 2 12\nInternational 543 906 999\nTotal 711 1,032 1,204\nYear End Store Counts\nU.S. Franchise 6,566 6,400 6,185\nU.S. Company-Owned 288 286 375\nInternational 13,737 13,194 12,288\nTotal 20,591 19,880 18,848\nRevenues\nU.S. Franchise Royalties and Fees $604.9 $556.3 $539.9\nU.S. Company-Owned Stores 376.2 445.8 479.0\nU.S. Franchise Advertising 473.2 485.3 479.5\nSupply Chain 2,715.0 2,754.7 2,561.0\nInternational Franchise Royalties and Fees 310.1 295.0 298.0\nTotal $4,479.4 $4,537.2 $4,357.4\nSame Store Sales Growth1\nU.S. +1.6% (0.8)% +3.5%\nInternational +1.7% +0.1% +8.0%\nGlobal Retail Sales2\nU.S. $9,026.1 $8,751.7 $8,641.4\nInternational 9,249.7 8,788.2 9,137.5\nTotal $18,275.8 $17,539.9 $17,779.0\nIncome from Operations $819.5 $767.9 $780.4\nNet Income $519.1 $452.3 $510.5\nDiluted Earnings Per Share $14.66 $12.53 $13.54\nDiluted Earnings Per Share, as Adjusted3\n$14.66 $12.53 $13.60\nWeighted Average Diluted Shares 35,401,313 36,093,754 37,691,351\n1 Performance vs. fiscal years 2022, 2021 and 2020, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates.\n2 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n3 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the Company Earnings Release\nfor 2021. No items affected in 2023 or 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_revenue",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "4479.4m revenues",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n2023 2022 2021\nNet Unit Growth\nU.S. Franchise 165 124 193\nU.S. Company-owned 3 2 12\nInternational 543 906 999\nTotal 711 1,032 1,204\nYear End Store Counts\nU.S. Franchise 6,566 6,400 6,185\nU.S. Company-Owned 288 286 375\nInternational 13,737 13,194 12,288\nTotal 20,591 19,880 18,848\nRevenues\nU.S. Franchise Royalties and Fees $604.9 $556.3 $539.9\nU.S. Company-Owned Stores 376.2 445.8 479.0\nU.S. Franchise Advertising 473.2 485.3 479.5\nSupply Chain 2,715.0 2,754.7 2,561.0\nInternational Franchise Royalties and Fees 310.1 295.0 298.0\nTotal $4,479.4 $4,537.2 $4,357.4\nSame Store Sales Growth1\nU.S. +1.6% (0.8)% +3.5%\nInternational +1.7% +0.1% +8.0%\nGlobal Retail Sales2\nU.S. $9,026.1 $8,751.7 $8,641.4\nInternational 9,249.7 8,788.2 9,137.5\nTotal $18,275.8 $17,539.9 $17,779.0\nIncome from Operations $819.5 $767.9 $780.4\nNet Income $519.1 $452.3 $510.5\nDiluted Earnings Per Share $14.66 $12.53 $13.54\nDiluted Earnings Per Share, as Adjusted3\n$14.66 $12.53 $13.60\nWeighted Average Diluted Shares 35,401,313 36,093,754 37,691,351\n1 Performance vs. fiscal years 2022, 2021 and 2020, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates.\n2 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n3 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the Company Earnings Release\nfor 2021. No items affected in 2023 or 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_revenue_growth",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "4479.4m revenues, prior year 4537.2m",
      "golden_context": "Page 2:\n\nFINANCIAL HIGHLIGHTS\n$ in millions, except per share data\n2023 2022 2021\nNet Unit Growth\nU.S. Franchise 165 124 193\nU.S. Company-owned 3 2 12\nInternational 543 906 999\nTotal 711 1,032 1,204\nYear End Store Counts\nU.S. Franchise 6,566 6,400 6,185\nU.S. Company-Owned 288 286 375\nInternational 13,737 13,194 12,288\nTotal 20,591 19,880 18,848\nRevenues\nU.S. Franchise Royalties and Fees $604.9 $556.3 $539.9\nU.S. Company-Owned Stores 376.2 445.8 479.0\nU.S. Franchise Advertising 473.2 485.3 479.5\nSupply Chain 2,715.0 2,754.7 2,561.0\nInternational Franchise Royalties and Fees 310.1 295.0 298.0\nTotal $4,479.4 $4,537.2 $4,357.4\nSame Store Sales Growth1\nU.S. +1.6% (0.8)% +3.5%\nInternational +1.7% +0.1% +8.0%\nGlobal Retail Sales2\nU.S. $9,026.1 $8,751.7 $8,641.4\nInternational 9,249.7 8,788.2 9,137.5\nTotal $18,275.8 $17,539.9 $17,779.0\nIncome from Operations $819.5 $767.9 $780.4\nNet Income $519.1 $452.3 $510.5\nDiluted Earnings Per Share $14.66 $12.53 $13.54\nDiluted Earnings Per Share, as Adjusted3\n$14.66 $12.53 $13.60\nWeighted Average Diluted Shares 35,401,313 36,093,754 37,691,351\n1 Performance vs. fiscal years 2022, 2021 and 2020, respectively. International same store sales growth excludes changes in\nforeign currency exchange rates.\n2 Global Retail Sales represent sales by our Company-owned and franchised stores. Franchised store retail sales are reported\nto us by our franchisees and are not our revenues. International retail sales are reported in U.S. dollars.\n3 Diluted Earnings Per Share, as adjusted, excludes items affecting comparability, as detailed in the Company Earnings Release\nfor 2021. No items affected in 2023 or 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000282_segments",
      "report_id": "ID_000282",
      "company_name": "Dominos",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "U.S. stores, international franchise and supply chain",
      "golden_context": "Page 12:\n\nOur Business Segments\nWe operate, and report, three business segments: U.S. stores, international franchise and supply chain.\nU.S. Stores\nDuring 2023, our U.S. stores segment accounted for $1.45 billion, or 32%, of our consolidated revenues. Our U.S.\nstores segment is comprised primarily of our franchise operations, which consisted of 6,566 franchised stores\nlocated in the United States as of December 31, 2023. We also operated a network of 288 U.S. Company-owned\nstores as of December 31, 2023.\nDirectly operating Domino’s stores contributes significantly to our ability to act as a credible franchisor. We also\nuse our Company-owned stores as test sites for technological innovation and promotions, as well as operational\nimprovements. Additionally, we also use them for training new store managers and operations team members, as\nwell as developing prospective franchisees. While we are primarily a franchised business, we continuously evaluate\nour mix of U.S. Company-owned and franchised stores. As of December 31, 2023, franchised stores represented\napproximately 96% of our total store count within our U.S. stores segment.\nU.S. Franchise Profile\nAs of December 31, 2023, our network of 6,566 U.S. franchise stores was owned and operated by 735 independent\nU.S. franchisees. Our franchise formula enables franchisees to benefit from our brand recognition with a relatively\nlow initial capital investment. As of December 31, 2023, the average U.S. franchisee owned and operated\napproximately nine stores and had been in our franchise system for over 17 years. Additionally, 22 of our U.S.\nfranchisees operated more than 50 stores (including our largest U.S. franchisee who operated 143 stores) and 209 of\nour U.S. franchisees each operated one store as of December 31, 2023.\nWe apply rigorous standards to prospective U.S. franchisees. We generally require them to manage a store for at\nleast one year and graduate from our franchise management school program before being granted the right to\nfranchise. This enables us to observe the operational and financial performance of a potential franchisee prior to\nentering into a long-term agreement. Substantially all of our independent U.S. franchise owners started their careers\nwith us as delivery drivers or in other in-store positions, which we believe offers advantages in terms of familiarity\nwith our business and store operations. In addition, we generally restrict the ability of U.S. franchisees to be\ninvolved in other businesses, which we believe helps focus our franchisees’ attention on operating their stores. We\nbelieve these characteristics and standards are largely unique within the franchise industry and have resulted in\nqualified and focused franchisees operating Domino’s stores. We maintain a productive relationship with our\nindependent franchise owners through regional franchise teams, distributing materials that help franchise stores\ncomply with our standards and using franchise advisory groups that facilitate communications between us and our\nfranchisees. We consider our relationship with our U.S. franchisees to be good.\nU.S. Franchise Agreements\nWe enter into franchise agreements with U.S. franchisees under which the franchisee is generally granted the right to\noperate a store in a particular location for a term of ten years, with an ability to renew for an additional term of ten\nyears. We had a franchise agreement renewal rate of approximately 99% in 2023. Under the current standard\nfranchise agreement, we assign an exclusive area of primary responsibility to each franchised store. Each franchisee\nis generally required to pay a 5.5% royalty fee on sales, as well as certain technology fees. In certain instances, we\nwill collect lower rates based on certain incentives.\nOur stores in the United States generally contribute 6.0% of their sales to fund national marketing and advertising\ncampaigns (subject, in certain instances, to lower rates based on certain incentives and waivers). Beginning on\nMarch 27, 2023, Domino's National Advertising Fund Inc. (“DNAF”), the Company’s consolidated not-for-profit\nadvertising subsidiary, effectuated a temporary reduction of 0.25% to its standard 6.0% advertising contribution,\nwhich will expire on March 24, 2024. Contributions by our U.S. franchisees to DNAF are primarily used to\npurchase media for advertising, and also to support market research, field communications, public relations,\ncommercial production, talent payments and other activities to promote the Domino’s brand. In addition to the\nnational and market-level advertising contributions, U.S. stores generally spend additional funds on local store\nmarketing activities.\nWe have the contractual right, subje",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_cash_flow",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1010197k, investin: -7107324k, financing: 5916361k",
      "golden_context": "Page 162:\n\nCash flows\nWe report and analyze our cash flows based on operating activities, investing activities, and financing activities. The following\ntable summarizes changes in our cash flows for the years ended December 31, 2021 and 2020 (in thousands):\nYear Ended December 31,\n2021 2020 Change\nNet cash provided by operating activities $ 1,010,197 $ 882,510 $ 127,687\nNet cash used in investing activities $ (7,107,324) $ (3,278,161) $ (3,829,163)\nNet cash provided by financing activities $ 5,916,361 $ 2,750,356 $ 3,166,005\nOperating activities\nCash flows provided by operating activities are primarily dependent upon the occupancy level of our asset base, the rental\nrates of our leases, the collectibility of rent and recovery of operating expenses from our tenants, the timing of completion of\ndevelopment and redevelopment projects, and the timing of acquisitions and dispositions of operating properties. Net cash provided by\noperating activities for the year ended December 31, 2021 increased by $127.7 million to $1.0 billion, compared to $882.5 million for the\nyear ended December 31, 2020. This increase was primarily attributable to (i) cash flows generated from our highly leased development\nand redevelopment projects recently placed into service, (ii) income-producing acquisitions since January 1, 2020, and (iii) increases in\nrental rates on lease renewals and re-leasing of space since January 1, 2020.\nInvesting activities\nCash used in investing activities for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):\nYear Ended December 31,\n2021 2020 Increase (Decrease)\nSources of cash from investing activities:\nSales of and distributions from non-real estate investments $ 424,623 $ 141,149 $ 283,474\nProceeds from sales of real estate 190,576 747,020 (556,444)\nReturn of capital from unconsolidated real estate joint ventures — 20,225 (20,225)\nSale of interests in unconsolidated real estate joint ventures 394,952 — 394,952\nChange in escrow deposits — 7,408 (7,408)\n1,010,151 915,802 94,349\nUses of cash for investing activities:\nPurchases of real estate 5,434,652 2,570,693 2,863,959\nAdditions to real estate 2,089,849 1,445,171 644,678\nAcquisition of interest in unconsolidated real estate joint venture 9,048 — 9,048\nInvestments in unconsolidated real estate joint ventures 13,666 3,444 10,222\nAdditions to non-real estate investments 408,564 174,655 233,909\nChange in escrow deposits 161,696 — 161,696\n8,117,475 4,193,963 3,923,512\nNet cash used in investing activities $ 7,107,324 $ 3,278,161 $ 3,829,163\nThe increase in net cash used in investing activities for the year ended December 31, 2021 was primarily due to an increased\nuse of cash for property acquisitions, additions to real estate, and additions to non-real estate investments. Refer to Note 3 –\n“Investments in real estate” to our consolidated financial statements under Item 15 in this annual report on Form 10-K for f",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_company_type",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 36:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nCommission file number 1-12993\nALEXANDRIA REAL ESTATE EQUITIES, INC.\n(Exact name of registrant as specified in its charter)\nMaryland 95-4502084\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n26 North Euclid Avenue, Pasadena, California 91101\n(Address of principal executive offices) (Zip code)\n(626) 578-0777\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value per share ARE New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the shares of Common Stock held by non-affiliates of registrant",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_key_financials",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Total asset base 67m sf, annual rental revenue 1.7bn",
      "golden_context": "Page 6:\n\nALEX ANDRIA MET AND SURPASSED\nOUR GOAL TO DOUBLE ANNUAL RENTAL\nREVENUE IN 5 YEARS\n$1.7B\n$1.5B\n2022 Goal\n$0.9B\n$0.8B\nMET AND\nSURPASSED\nGOAL\nALEXANDRIA’S 2021 HISTORIC MILESTONES ACHIEVED\n2016\n3Q17\nAnnual Rental Revenue\n3Q21\nALEX ANDRIA DOUBLED OUR\nTOTAL ASSET BASE\n67.0M SF\n29.6M SF\n2017\n2021\nALEX ANDRIA’S SCALE ADVANTAGE\nTOP 10%\nTOTAL EQUITY CAPITALIZATION AMONG\nALL PUBLICLY TRADED U.S. REITS2\n2. Represents total equity for publicly traded U.S. REITs, from Bloomberg\nProfessional Services as of December 31, 2021. Alexandria’s total equity\ncapitalization is calculated using shares outstanding and the closing stock\nprice as of December 31, 2021.\n4 | ALEXANDRIA REAL ESTATE EQUITIES, INC.\nWe are incredibly proud of the many significant and historic milestones\nwe achieved in this truly momentous year in our company’s history.\nNotably, in the third quarter of 2021, Alexandria met and surpassed\nthe goal we introduced at our Annual Investor Day in 2017 to double\nannual rental revenue in five years (by 2022, compared to 2016), a\nremarkable accomplishment made more so during a global pandemic.\nThrough the strength of our brand and disciplined approach,\nAlexandria also amassed unmatched scale, amplified by strategic\nand opportunistic acquisitions to expand our highly leased\ndevelopment and redevelopment pipeline. We doubled our total\nasset base to 67.0 million square feet (SF) in 2021 from 29.6 million\nSF in 2017 and earned a ranking in the top 10% among all publicly\ntraded U.S. REITs in total equity capitalization as of December 31,\n2021. We continued to build and strengthen our fortress balance\nsheet, and in February 2021, we issued unsecured senior notes\naggregating $1.8 billion at a blended interest rate of 2.51%,\nwhich at the time represented the single largest bond offering in\nAlexandria’s history.\nAdditionally, driven by the historic-high demand for our\nLabspace, we achieved in 2021 the highest annual leasing\nvolume in our history — or approximately double the annual\nleasing volume of any of the past several years — through our\ncompletion of long-term leases aggregating 9.5 million RSF.\nWe also set new records during the fourth quarter of 2021, with\nexecuted leases aggregating 4.1 million RSF that shattered our\nprevious record for total quarterly leasing volume.\nDOMINANT BRAND ACHIEVING\nSUPERIOR RESULTS\nIn 1994, we founded Alexandria as a garage startup with a unique\nbusiness plan, $19 million in Series A capital, and a bold vision\nto create the first real estate company focused primarily on the\nessential life science industry and the highly complex infrastructure\nneeded to support its mission-critical work. Today, Alexandria is the\nleading owner, operator, and developer of collaborative campuses\nand ecosystems for transformative life science and agtech\ncompanies in the nation’s top innovation clusters.\nFrom our modest beginning, we have grown our business into\na highly respected investment-grade S&P 500® REIT with a total\nmarket capitalization of $44 billion as of December 31, 2021. Our\nsensational 2021 performance, distinguished by a TSR of 28.1%1\nthat outperformed the FTSE Nareit Equity Office Index TSR of 22%\nand backed by our compelling dual engine of internal and external\ngrowth, positions Alexandria for strong growth in 2022 and beyond.\nSince our initial public offering (IPO) in May 1997, we have\nmaintained the highest standards of excellence to maximize\nlong-term value. Alexandria’s exceptional TSR, which exceeded\n2,500%1 from IPO through December 31, 2021, significantly\noutperformed various indices over the same period, including\nthe MSCI U.S. REIT and S&P 500 at 939% and 790%, respectively.\nOver the four-year period from December 31, 2017 through\n2021, we generated strong per-share growth in net asset value of\n54%, funds from operations – diluted, as adjusted",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_revenue",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Income from rentals 2108249k",
      "golden_context": "Page 150:\n\nwing table presents a comparison of the components of net operating income for our Same Properties and Non-Same\nProperties for the year ended December 31, 2021, compared to the year ended December 31, 2020. Refer to the “Non-GAAP\nmeasures and definitions” section under this Item 7 in this annual report on Form 10-K for definitions of “Tenant recoveries” and “Net\noperating income” and their reconciliations from the most directly comparable financial measures presented in accordance with GAAP,\nincome from rentals and net income, respectively. We provide a comparison of the results for the year ended December 31, 2020 to the\nyear ended December 31, 2019, including a comparison of the components of net operating income for our Same Properties and Non-\nSame Properties for the year ended December 31, 2020, compared to the year ended December 31, 2019, within the “Results of\noperations” section in Item 7 of our annual report on Form 10-K for the year ended December 31, 2020.\nYear Ended December 31,\n(Dollars in thousands) 2021 2020 $ Change % Change\nIncome from rentals:\nSame Properties $ 1,220,160 $ 1,171,595 $ 48,565 4.1 %\nNon-Same Properties 398,432 300,245 98,187 32.7\nRental revenues 1,618,592 1,471,840 146,752 10.0\nSame Properties 406,162 370,895 35,267 9.5\nNon-Same Properties 83,495 35,473 48,022 135.4\nTenant recoveries 489,657 406,368 83,289 20.5\nIncome from rentals 2,108,249 1,878,208 230,041 12.2\nSame Properties 475 366 109 29.8\nNon-Same Properties 5,426 7,063 (1,637) (23.2)\nOther income 5,901 7,429 (1,528) (20.6)\nSame Properties 1,626,797 1,542,856 83,941 5.4\nNon-Same Properties 487,353 342,781 144,572 42.2\nTotal revenues 2,114,150 1,885,637 228,513 12.1\nSame Properties 456,705 420,264 36,441 8.7\nNon-Same Properties 166,850 109,960 56,890 51.7\nRental operations 623,555 530,224 93,331 17.6\nSame Properties 1,170,092 1,122,592 47,500 4.2\nNon-Same Properties 320,503 232,821 87,682 37.7\nNet operating income $ 1,490,595 $ 1,355,413 $ 135,182 10.0 %\nNet operating income – Same Properties $ 1,170,092 $ 1,122,592 $ 47,500 4.2 %\nStraight-line rent revenue (60,157) (82,681) 22,524 (27.2)\nAmortization of acquired below-market leases (12,357) (15,348) 2,991 (19.5)\nNet operating income – Same Properties (cash basis) $ 1,097,578 $ 1,024,563 $ 73,015 7.1 %\n112 2021 REPORT ON FORM 10-K | 112\nIncome from rentals\nTotal income from rentals for the year ended December 31, 2021 increased by $23",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_revenue_growth",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Income from rentals 2108249k, prior year 1878208k",
      "golden_context": "Page 150:\n\nwing table presents a comparison of the components of net operating income for our Same Properties and Non-Same\nProperties for the year ended December 31, 2021, compared to the year ended December 31, 2020. Refer to the “Non-GAAP\nmeasures and definitions” section under this Item 7 in this annual report on Form 10-K for definitions of “Tenant recoveries” and “Net\noperating income” and their reconciliations from the most directly comparable financial measures presented in accordance with GAAP,\nincome from rentals and net income, respectively. We provide a comparison of the results for the year ended December 31, 2020 to the\nyear ended December 31, 2019, including a comparison of the components of net operating income for our Same Properties and Non-\nSame Properties for the year ended December 31, 2020, compared to the year ended December 31, 2019, within the “Results of\noperations” section in Item 7 of our annual report on Form 10-K for the year ended December 31, 2020.\nYear Ended December 31,\n(Dollars in thousands) 2021 2020 $ Change % Change\nIncome from rentals:\nSame Properties $ 1,220,160 $ 1,171,595 $ 48,565 4.1 %\nNon-Same Properties 398,432 300,245 98,187 32.7\nRental revenues 1,618,592 1,471,840 146,752 10.0\nSame Properties 406,162 370,895 35,267 9.5\nNon-Same Properties 83,495 35,473 48,022 135.4\nTenant recoveries 489,657 406,368 83,289 20.5\nIncome from rentals 2,108,249 1,878,208 230,041 12.2\nSame Properties 475 366 109 29.8\nNon-Same Properties 5,426 7,063 (1,637) (23.2)\nOther income 5,901 7,429 (1,528) (20.6)\nSame Properties 1,626,797 1,542,856 83,941 5.4\nNon-Same Properties 487,353 342,781 144,572 42.2\nTotal revenues 2,114,150 1,885,637 228,513 12.1\nSame Properties 456,705 420,264 36,441 8.7\nNon-Same Properties 166,850 109,960 56,890 51.7\nRental operations 623,555 530,224 93,331 17.6\nSame Properties 1,170,092 1,122,592 47,500 4.2\nNon-Same Properties 320,503 232,821 87,682 37.7\nNet operating income $ 1,490,595 $ 1,355,413 $ 135,182 10.0 %\nNet operating income – Same Properties $ 1,170,092 $ 1,122,592 $ 47,500 4.2 %\nStraight-line rent revenue (60,157) (82,681) 22,524 (27.2)\nAmortization of acquired below-market leases (12,357) (15,348) 2,991 (19.5)\nNet operating income – Same Properties (cash basis) $ 1,097,578 $ 1,024,563 $ 73,015 7.1 %\n112 2021 REPORT ON FORM 10-K | 112\nIncome from rentals\nTotal income from rentals for the year ended December 31, 2021 increased by $23",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000283_segments",
      "report_id": "ID_000283",
      "company_name": "Alexandria Real Estate",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 210:\n\nt the reported amounts of assets, liabilities, and equity; the disclosure of contingent assets and liabilities as of the date of the\nconsolidated financial statements; and the amounts of revenues and expenses during the reporting period. Actual results could\nmaterially differ from those estimates.\nReportable segment\nWe are engaged in the business of providing space for lease to life science, agtech, and technology tenants. Our properties\nare similar in that they provide space for lease to the aforementioned industries, consist of improvements that are generic and reusable,\nare primarily located in AAA urban innovation cluster locations, and have similar economic characteristics. Our chief operating decision\nmakers review financial information for our entire consolidated operations when making decisions related to assessing our operating\nperformance, and review financial information for our individual properties when determining how to allocate resources related to capital\nexpenditures. We have aggregated the properties into one reportable segment as the properties share similar long-term economic\ncharacteristics and have other similarities, including the fact that they are operated using consistent business strategies, are typically\nlocated in major metropolitan areas, and have similar tenant mixes. The financial information disclosed herein represents all of the\nfinancial information related to our one reportable segment.\nInvestments in real estate\nEvaluation of business combination or asset acquisition\nWe evaluate each acquisition of real estate or in-substance real estate (including equity interests in entities that predominantly\nhold real estate assets) to determine whether the integrated set of assets and activities acquired meets the definition of a business and\nneeds to be accounted for as a business combination. An acquisition of an integrated set of assets and activities that does not meet the\ndefinition of a business is accounted for as an asset acquisition. If either of the following criteria is met, the integrated set of assets and\nactivities acquired would not qualify as a business:\n• Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group\nof similar identifiable assets; or\n• The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together\nsignificantly contribute to the ability to create outputs (i.e., revenue generated before and after the transaction).\nAn acquired process is considered substantive if:\n• The process includes an organized workforce (or includes an acquired contract that provides access to an organized\nworkforce) that is skilled, knowledgeable, and experienced in performing the process;\n• The process cannot be replaced without significant cost, effort, or delay; or\n• Th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_cash_flow",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1294321k, investing: -5080458k, financing: 4229772k",
      "golden_context": "Page 160:\n\nsh. We expect existing cash, cash equivalents, and restricted cash, net cash provided by operating activities, proceeds\nfrom real estate asset sales, partial interest sales, strategic real estate joint ventures, non-real estate investment sales, borrowings\nunder our unsecured senior line of credit, issuances under our commercial paper program, issuances of unsecured senior notes\npayable, borrowings under our secured construction loans, and issuances of common stock to continue to be sufficient to fund our\noperating activities and cash commitments for investing and financing activities, such as regular quarterly dividends, distributions to\nnoncontrolling interests, scheduled debt repayments, acquisitions, and certain capital expenditures, including expenditures related to\nconstruction activities.\nCash flows\nWe report and analyze our cash flows based on operating activities, investing activities, and financing activities. The following\ntable summarizes changes in our cash flows for the years ended December 31, 2022 and 2021 (in thousands):\nYear Ended December 31,\n2022 2021 Change\nNet cash provided by operating activities $ 1,294,321 $ 1,010,197 $ 284,124\nNet cash used in investing activities $ (5,080,458) $ (7,107,324) $ 2,026,866\nNet cash provided by financing activities $ 4,229,772 $ 5,916,361 $ (1,686,589)\nOperating activities\nCash flows provided by operating activities are primarily dependent upon the occupancy level of our asset base, the rental\nrates of our leases, the collectibility of rent and recovery of operating expenses from our tenants, the timing of completion of\ndevelopment and redevelopment projects, and the timing of acquisitions and dispositions of operating properties. Net cash provided by\noperating activities for the year ended December 31, 2022 increased by $284.1 million to $1.3 billion, compared to $1.0 billion for the\nyear ended December 31, 2021. The increase was primarily attributable to the following since January 1, 2021: (i) cash flows generated\nfrom our highly leased development and redevelopment projects recently placed into service, (ii) income-producing acquisitions, and (iii)\nincreases in rental rates on lease renewals and re-leasing of spac",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_company_type",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 27:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nCommission file number 1-12993\nALEXANDRIA REAL ESTATE EQUITIES, INC.\n(Exact name of registrant as specified in its charter)\nMaryland 95-4502084\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n26 North Euclid Avenue, Pasadena, California 91101\n(Address of principal executive offices) (Zip code)\n(626) 578-0777\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value per share ARE New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_key_financials",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Totalmarket cap 35bn, total revenues 2.6bn, funds from operations 1.4bn",
      "golden_context": "Page 2:\n\nAlexandria Celebrates\n25 YEARS\nON THE NYSE\nMay 27, 2022 marked 25 years of Alexandria being listed on the New York\nStock Exchange. In reaching this major milestone in our over 29-year history, it is\nremarkable to reflect on our company’s extraordinary strategic growth from the\nvisionary pioneer of the life science real estate niche in 1994 to our successful IPO\nin 1997 to our position today, having led and transformed life science real estate\nfrom a specialty niche to a mainstream asset class.\nOn the cover and above: On the cover and above:\n© 2022 NYSE Group, Inc. © 2022 NYSE Group, Inc.\nAll rights reserved. All rights reserved.\nIn celebration of Alexandria’s 25th anniversary on the NYSE, our executive\nchairman and founder, Joel S. Marcus, alongside members of the company’s\nboard of directors and long-tenured executive management team, rang\nThe Opening Bell on May 16, 2022.\nMAY 27, 1997\nCREDIT R ATING\nUNRATED TOP 10%1\nTOTAL MARKET CAP2\n$300M $35B\nTOTAL REVENUES\n$35M $2.6B\nFUNDS FROM OPER ATIONS\n$17M $1.4B3\n1. 2. Top 10% ranking represents credit rating levels from\nS&P Global Ratings and Moody’s Investors Service\nfor publicly traded U.S. REITs, from Bloomberg\nProfessional Services as of December 31, 2022.\nTotal market capitalization is equal to the sum of total\nequity capitalization and total debt.\n3. DECEMBER 31, 2022\nMARKETS\n4 9\nTOTAL SQUARE FOOTAGE\n1.5M 74.6M\nNUMBER OF PROPERTIES\n15 432\nTENANTS\n35 ~1,000",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_revenue",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Total revenues 2.6bn",
      "golden_context": "Page 2:\n\nAlexandria Celebrates\n25 YEARS\nON THE NYSE\nMay 27, 2022 marked 25 years of Alexandria being listed on the New York\nStock Exchange. In reaching this major milestone in our over 29-year history, it is\nremarkable to reflect on our company’s extraordinary strategic growth from the\nvisionary pioneer of the life science real estate niche in 1994 to our successful IPO\nin 1997 to our position today, having led and transformed life science real estate\nfrom a specialty niche to a mainstream asset class.\nOn the cover and above: On the cover and above:\n© 2022 NYSE Group, Inc. © 2022 NYSE Group, Inc.\nAll rights reserved. All rights reserved.\nIn celebration of Alexandria’s 25th anniversary on the NYSE, our executive\nchairman and founder, Joel S. Marcus, alongside members of the company’s\nboard of directors and long-tenured executive management team, rang\nThe Opening Bell on May 16, 2022.\nMAY 27, 1997\nCREDIT R ATING\nUNRATED TOP 10%1\nTOTAL MARKET CAP2\n$300M $35B\nTOTAL REVENUES\n$35M $2.6B\nFUNDS FROM OPER ATIONS\n$17M $1.4B3\n1. 2. Top 10% ranking represents credit rating levels from\nS&P Global Ratings and Moody’s Investors Service\nfor publicly traded U.S. REITs, from Bloomberg\nProfessional Services as of December 31, 2022.\nTotal market capitalization is equal to the sum of total\nequity capitalization and total debt.\n3. DECEMBER 31, 2022\nMARKETS\n4 9\nTOTAL SQUARE FOOTAGE\n1.5M 74.6M\nNUMBER OF PROPERTIES\n15 432\nTENANTS\n35 ~1,000",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_revenue_growth",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "2'588'962k, prior year 2'114'150k",
      "golden_context": "Page 149:\n\nr ended December 31, 2021 to the year ended December 31, 2020, including a comparison of the components of net\noperating income for our Same Properties and Non-Same Properties for the year ended December 31, 2021, compared to the year\nended December 31, 2020, in the “Results of operations” section within this Item 7 of our annual report on Form 10-K for the year\nended December 31, 2021. Refer to the “Non-GAAP measures and definitions” section within this Item 7 in this annual report on Form\n10-K for definitions of “Tenant recoveries” and “Net operating income” and their reconciliations from the most directly comparable\nfinancial measures presented in accordance with GAAP, income from rentals and net income, respectively.\nYear Ended December 31,\n(Dollars in thousands) 2022 2021 $ Change % Change\nIncome from rentals:\nSame Properties $ 1,385,380 $ 1,289,246 $ 96,134 7.5 %\nNon-Same Properties 564,718 329,346 235,372 71.5\nRental revenues 1,950,098 1,618,592 331,506 20.5\nSame Properties 478,333 407,450 70,883 17.4\nNon-Same Properties 147,609 82,207 65,402 79.6\nTenant recoveries 625,942 489,657 136,285 27.8\nIncome from rentals 2,576,040 2,108,249 467,791 22.2\nSame Properties 620 479 141 29.4\nNon-Same Properties 12,302 5,422 6,880 126.9\nOther income 12,922 5,901 7,021 119.0\nSame Properties 1,864,333 1,697,175 167,158 9.8\nNon-Same Properties 724,629 416,975 307,654 73.8\nTotal revenues 2,588,962 2,114,150 474,812 22.5\nSame Properties 561,301 475,209 86,092 18.1\nNon-Same Properties 221,852 148,346 73,506 49.6\nRental operations 783,153 623,555 159,598 25.6\nSame Properties 1,303,032 1,221,966 81,066 6.6\nNon-Same Properties 502,777 268,629 234,148 87.2\nNet operating income $ 1,805,809 $ 1,490,595 $ 315,214 21.1 %\nNet operating income – Same Properties $ 1,303,032 $ 1,221,966 $ 81,066 6.6 %\nStraight-line rent revenue (54,991) (79,602) 24,611 (30.9)\nAmortization of acquired below-market leases (26,224) (27,252) 1,028 (3.8)\nNet operating income – Same Properties (cash basis) $ 1,221,817 $ 1,115,112 $ 106,705 9.6 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000284_segments",
      "report_id": "ID_000284",
      "company_name": "Alexandria Real Estate",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 33:\n\nproperties and land, both from institutional capital sources and from other REITs, has been very strong over the past\nseveral years; however, we believe we have differentiated ourselves from our competitors. As the first, longest-tenured, and pioneering\npublicly traded life science REIT to focus primarily on the office/laboratory real estate niche, we provide world-class collaborative life\nscience, agtech, and technology campuses in AAA innovation cluster locations and maintain and cultivate many of the most important\nand strategic relationships in the life science, agtech, and technology industries.\nFinancial information about our reportable segment\nRefer to Note 2 – “Summary of significant accounting policies” to our consolidated financial statements under Item 15 in this\nannual report on Form 10-K for information about our one reportable segment.\nRegulation\nGeneral\nProperties in our markets are subject to various laws, ordinances, and regulations, including regulations relating to common\nareas. We believe we have the necessary permits and approvals to operate each of our properties.\nAmericans with Disabilities Act\nOur properties must comply with Title III of the Americans with Disabilities Act of 1990 (“ADA”) to the extent that such\nproperties are “public accommodations” as defined by the ADA. The ADA may require removal of structural barriers to permit access by\npersons with disabilities in certain public areas of our properties where such removal is readily achievable. We believe that our\nproperties are in substantial compliance with the ADA and that we will not be required to incur substantial capital expenditures to\naddress the requirements of the ADA. However, noncompliance with the ADA could result in the imposition of fines or an award of\ndamages to private litigants. The obligation to make readily achievable accommodations is an ongoing one, and we will continue to\nassess our properties and make alterations as appropriate in this respect.\nEnvironmental matters\nUnder various environmental protection laws, a current or previous owner or operator of real estate may be liable for\ncontamination resulting fro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_cash_flow",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1630550k, investing: -2500619k, financing: 674156k",
      "golden_context": "Page 149:\n\ncember 31, 2023 $ 5,795,963\n(1) Represents outstanding principal, net of unamortized deferred financing costs, as of December 31, 2023.\nCash, cash equivalents, and restricted cash\nAs of December 31, 2023 and 2022, we had $660.8 million and $858.0 million, respectively, of cash, cash equivalents, and\nrestricted cash. We expect existing cash, cash equivalents, and restricted cash, net cash provided by operating activities, proceeds\nfrom real estate asset sales, sales of partial interests, strategic real estate joint ventures, non-real estate investment sales, borrowings\nunder our unsecured senior line of credit, issuances under our commercial paper program, issuances of unsecured senior notes\npayable, borrowings under our secured construction loans, and issuances of common stock to continue to be sufficient to fund our\noperating activities and cash commitments for investing and financing activities, such as regular quarterly dividends, distributions to\nnoncontrolling interests, scheduled debt repayments, acquisitions, and certain capital expenditures, including expenditures related to\nconstruction activities.\nCash flows\nWe report and analyze our cash flows based on operating activities, investing activities, and financing activities. The following\ntable summarizes changes in our cash flows for the years ended December 31, 2023 and 2022 (in thousands):\nYear Ended December 31,\n2023 2022 Change\nNet cash provided by operating activities $ 1,630,550 $ 1,294,321 $ 336,229\nNet cash used in investing activities $ (2,500,619) $ (5,080,458) $ 2,579,839\nNet cash provided by financing activities $ 674,156 $ 4,229,772 $ (3,555,616)\nOperating activities\nCash flows provided by operating activities are primarily dependent upon the occupancy level of our asset base, the rental\nrates of our leases, the collectibility of rent and recovery of operating expenses from our tenants, the timing of completion of\ndevelopment and redevelopment projects, and the timing of acquisitions and dispositions of operating properties. Net cash provided by\noperating activities for the year ended December 31, 2023 increased by $336.2 million to $1.6 billion, compared to $1.3 billion for the\nyear ended December 31, 2022. The increase was primarily attributable to the following since January 1, 2022: (i) cash flows generated\nfrom our highly leased development and redevelopment projects recently placed into service, (ii) income-producing acquisitions, and (iii)\nincreases in rental rates on lease renewals and re-leasing of space.\n115 | ALEXANDRIA REAL ESTATE EQUITIES, INC.\n115\nInvesting activities\nCash used in investing activities for the years ended December 31, 2023 and 2022 consisted of the following (in thousands):\nYear Ended December 31,\n2023 2022 Increase (Decrease)\nSources of cash from investing activities:\nProceeds from sales of real estate $ 1,195,743 $ 994,331 $ 201,412\nSales of and distributions from non-real estate investments 183,396 198,320 (14,924)\nChange in escrow deposits — 155,968 (155,968)\nReturn of capital from unconsolidated real estate joint ventures — 471 (471)\n1,379,139 1,349,090 30,049\nUses of cash for investing activities:\nPurchases of real estate 265,750 2,877,861 (2,612,111)\nAdditions to real estate 3,418,296 3,307,313 110,983\nChange in escrow deposits 5,582 — 5,582\nInvestments in unconsolidated real estate joint ventures 658 1,442 (784)\nAdditions to non-real estate investments 189,472 242,932 (53,460)\n3,879,758 6,429,548 (2,549,790)\nNet cash used in investing activities ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_company_type",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 32:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nCommission file number 1-12993\nALEXANDRIA REAL ESTATE EQUITIES, INC.\n(Exact name of registrant as specified in its charter)\nMaryland 95-4502084\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n26 North Euclid Avenue, Pasadena, California 91101\n(Address of principal executive offices) (Zip code)\n(626) 578-0777\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $0.01 par value per share ARE New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements\nfor the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nNon-accelerated filer ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued\nits audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received\nby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_key_financials",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Same property net operating income growth 3.4%, adjusted EBITDA margin 69%",
      "golden_context": "Page 129:\n\nistorical Same Property\nNet Operating Income Growth\nHistorical Rental Rate Growth:\nRenewed/Re-Leased Space\nMargins(2) Favorable Lease Structure(3)\nStrategic Lease Structure by Owner and Operator of\nCollaborative Life Science, Agtech, and Advanced\nOperating Adjusted EBITDA\nTechnology Mega Campuses\n71% 69%Increasing cash flows\nPercentage of leases containing\nannual rent escalations 96 %\nStable cash flows\nWeighted-Average Lease Term\nof Executed Leases\nPercentage of triple\nnet leases 94 %\nLower capex burden\nPercentage of leases providing for\nthe recapture of capital\nexpenditures\n93 %\n8.8 Years 10 Years\n(2014–2023)\nNet Debt and Preferred Stock\nto Adjusted EBITDA(4) Fixed-Charge Coverage Ratio(4)\nRefer to “Same properties” and “Non-GAAP measures and definitions” within this Item 7 for additional details. “Non-GAAP measures and definit",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_revenue",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "2885699k",
      "golden_context": "Page 137:\n\nof results for the year ended December 31, 2023 to the year ended December 31, 2022\nThe following table presents a comparison of the components of net operating income for our Same Properties and Non-Same\nProperties for the year ended December 31, 2023, compared to the year ended December 31, 2022 (dollars in thousands). We provide\na comparison of the results for the year ended December 31, 2022 to the year ended December 31, 2021, including a comparison of\nthe components of net operating income for our Same Properties and Non-Same Properties for the year ended December 31, 2022,\ncompared to the year ended December 31, 2021, in the “Results of operations” section within Item 7 of our annual report on Form 10-K\nfor the year ended December 31, 2022. Refer to the “Non-GAAP measures and definitions” section within this Item 7 in this annual\nreport on Form 10-K for definitions of “Tenant recoveries” and “Net operating income” and their reconciliations from the most directly\ncomparable financial measures presented in accordance with GAAP, income from rentals and net income, respectively.\nYear Ended December 31,\n2023 2022 $ Change % Change\nIncome from rentals:\nSame Properties $ 1,495,031 $ 1,444,782 $ 50,249 3.5 %\nNon-Same Properties 648,940 505,316 143,624 28.4\nRental revenues 2,143,971 1,950,098 193,873 9.9\nSame Properties 537,698 504,299 33,399 6.6\nNon-Same Properties 160,787 121,643 39,144 32.2\nTenant recoveries 698,485 625,942 72,543 11.6\nIncome from rentals 2,842,456 2,576,040 266,416 10.3\nSame Properties 813 827 (14) (1.7)\nNon-Same Properties 42,430 12,095 30,335 250.8\nOther income 43,243 12,922 30,321 234.6\nSame Properties 2,033,542 1,949,908 83,634 4.3\nNon-Same Properties 852,157 639,054 213,103 33.3\nTotal revenues 2,885,699 2,588,962 296,737 11.5\nSame Properties 623,484 586,323 37,161 6.3\nNon-Same Properties 235,696 196,830 38,866 19.7\nRental operations 859,180 783,153 76,027 9.7\nSame Properties 1,410,058 1,363,585 46,473 3.4\nNon-Same Properties 616,461 442,224 174,237 39.4\nNet operating income $ 2,026,519 $ 1,805,809 $ 220,710 12.2 %\nNet operating income – Same Properties $ 1,410,058 $ 1,363,585 $ 46,473 3.4 %\nStraight-line rent revenue (65,988) (67,233) 1,245 (1.9)\nAmortization of acquired below-market leases (21,945) (32,552) 10,607 (32.6)\nNet operating income – Same Properties (cash basis) $ 1,322,125 $ 1,263,800 $ 58,325 4.6 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_revenue_growth",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "2885699k, 2588962 prior year (refers to \"total revenues\")",
      "golden_context": "Page 137:\n\nof results for the year ended December 31, 2023 to the year ended December 31, 2022\nThe following table presents a comparison of the components of net operating income for our Same Properties and Non-Same\nProperties for the year ended December 31, 2023, compared to the year ended December 31, 2022 (dollars in thousands). We provide\na comparison of the results for the year ended December 31, 2022 to the year ended December 31, 2021, including a comparison of\nthe components of net operating income for our Same Properties and Non-Same Properties for the year ended December 31, 2022,\ncompared to the year ended December 31, 2021, in the “Results of operations” section within Item 7 of our annual report on Form 10-K\nfor the year ended December 31, 2022. Refer to the “Non-GAAP measures and definitions” section within this Item 7 in this annual\nreport on Form 10-K for definitions of “Tenant recoveries” and “Net operating income” and their reconciliations from the most directly\ncomparable financial measures presented in accordance with GAAP, income from rentals and net income, respectively.\nYear Ended December 31,\n2023 2022 $ Change % Change\nIncome from rentals:\nSame Properties $ 1,495,031 $ 1,444,782 $ 50,249 3.5 %\nNon-Same Properties 648,940 505,316 143,624 28.4\nRental revenues 2,143,971 1,950,098 193,873 9.9\nSame Properties 537,698 504,299 33,399 6.6\nNon-Same Properties 160,787 121,643 39,144 32.2\nTenant recoveries 698,485 625,942 72,543 11.6\nIncome from rentals 2,842,456 2,576,040 266,416 10.3\nSame Properties 813 827 (14) (1.7)\nNon-Same Properties 42,430 12,095 30,335 250.8\nOther income 43,243 12,922 30,321 234.6\nSame Properties 2,033,542 1,949,908 83,634 4.3\nNon-Same Properties 852,157 639,054 213,103 33.3\nTotal revenues 2,885,699 2,588,962 296,737 11.5\nSame Properties 623,484 586,323 37,161 6.3\nNon-Same Properties 235,696 196,830 38,866 19.7\nRental operations 859,180 783,153 76,027 9.7\nSame Properties 1,410,058 1,363,585 46,473 3.4\nNon-Same Properties 616,461 442,224 174,237 39.4\nNet operating income $ 2,026,519 $ 1,805,809 $ 220,710 12.2 %\nNet operating income – Same Properties $ 1,410,058 $ 1,363,585 $ 46,473 3.4 %\nStraight-line rent revenue (65,988) (67,233) 1,245 (1.9)\nAmortization of acquired below-market leases (21,945) (32,552) 10,607 (32.6)\nNet operating income – Same Properties (cash basis) $ 1,322,125 $ 1,263,800 $ 58,325 4.6 %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000285_segments",
      "report_id": "ID_000285",
      "company_name": "Alexandria Real Estate",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single operating segment",
      "golden_context": "Page 38:\n\nn or raise rents and attract or retain tenants. Competition may also reduce the number of suitable\ninvestment opportunities available to us or may increase the bargaining power of property owners seeking to sell. Competition in\nacquiring existing properties and land, both from institutional capital sources and from other REITs, has been very strong over the past\nseveral years; however, we believe we have differentiated ourselves from our competitors. Alexandria pioneered the life science real\nestate niche with our founding in 1994, and today is the preeminent and longest-tenured owner, operator, and developer of life science,\nagtech, and advanced technology mega campuses in AAA innovation cluster locations. We continue to maintain and cultivate many of\nthe most important and strategic relationships in the life science, agtech, and technology industries.\nFinancial information about our reportable segment\nRefer to Note 2 – “Summary of significant accounting policies” to our consolidated financial statements under Item 15 in this\nannual report on Form 10-K for information about our one reportable segment.\nRegulation\nGeneral\nProperties in our markets are subject to various laws, ordinances, and regulations, including regulations relating to common\nareas. We believe we have the necessary permits and approvals to operate each of our properties.\nAmericans with Disabilities Act\nOur properties must comply with Title III of the Americans with Disabilities Act of 1990 (“ADA”) to the extent that such\nproperties are “public accommodations” as defined by the ADA. The ADA may require removal of structural barriers to permit access by\npersons with disabilities in certain public areas of our properties where such removal is readily achievable. We believe that our\nproperties are in substantial compliance with the ADA and that we will not be required to incur substantial capital expenditures to\naddress the requirements of the ADA. However, noncompliance with the ADA could result in the imposition of fines or an award of\ndamages to private litigants. The obligation to make readily achievable accommodations is an ongoing one, and we will continue to\nassess our properties and make alterations as appropriate in this respect.\nEnvironmental matters\nUnder various environmental protection laws, a current or previous owner or operator of real estate may be liable for\ncontamination resulting from the presence or discharge of hazardous or toxic substances at that property and may be required to\ninvestigate and remediate contamination located on or emanating from that property. Such laws often impose liability without regard to\nwhether the owner or operator knew of, or was responsible for, the presence of the contaminants, and the liability may be joint and\nseveral. Previous owners may have used some of our properties for industrial and other purposes, so those properties may contain\nsome level of environmental contamination. The presence of contamination or the failure to remediate contamination at our properties\nmay expose us to third-party liability or may materially adversely affect our ability to sell, lease, or develop the real estate or to borrow\ncapital using the real estate as collateral.\nState regulations, such as California’s Connelly Act and Proposition 65, among others, require certain building owners and\noperators to disclose information on the presence of asbestos or other harmful substances. Some of our properties may have asbestos-\ncontaining building materials. Environmental laws require that asbestos-containing building materials be properly managed and\nmaintained and may impose fines and penalties on building owners or operators for failure to comply with these requirements. These\nlaws may also allow third parties",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_cash_flow",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "2.17bn free cash flow",
      "golden_context": "Page 2:\n\n2021 Overview\nFinancial Performance\n$917 Million*\nNet Earnings Attributable to\nCommon Stockholders\n$2.87 Billion+\nNet Cash from Operations\n$2.17 Billion* *\nEBITDA(1)\n$2.74 Billion\nAdjusted EBITDA(1)\n$2.17 Billion+\nFree Cash Flow(2)\n*\n**\n+\nIncludes the impact of after-tax non-cash\nimpairment charges of $463 million related to\nthe Company’s U.K. operations\nIncludes the impact of pre-tax non-cash\nimpairment charges of $521 million related\nto the Company’s U.K. operations\nCompany record\nOperational Performance\n9.3 Million Tons\nGross Ammonia Production\n18.5 Million Tons\nSales Volume\n0.32\nYear-end recordable incident\nrate per 200,000 work",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_company_type",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-32597\nCF INDUSTRIES HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 20-2697511\n(State or other jurisdiction of\n(I.R.S. Employer Identification\nincorporation or organization)\nNo.)\n4 Parkway North, Suite 400 60015\nDeerfield, Illinois (Zip Code)\n(Address of principal executive offices)\n(847) 405-2400\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class common stock, par value $0.01 per share Trading symbol(s) CF Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated\nfiler ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEm",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_key_financials",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "2.87bn net cash from operations, 2.74bn adjusted EBITDA, 2.17bn free cash flow",
      "golden_context": "Page 2:\n\n2021 Overview\nFinancial Performance\n$917 Million*\nNet Earnings Attributable to\nCommon Stockholders\n$2.87 Billion+\nNet Cash from Operations\n$2.17 Billion* *\nEBITDA(1)\n$2.74 Billion\nAdjusted EBITDA(1)\n$2.17 Billion+\nFree Cash Flow(2)\n*\n**\n+\nIncludes the impact of after-tax non-cash\nimpairment charges of $463 million related to\nthe Company’s U.K. operations\nIncludes the impact of pre-tax non-cash\nimpairment charges of $521 million related\nto the Company’s U.K. operations\nCompany record\nOperational Performance\n9.3 Million Tons\nGross Ammonia Production\n18.5 Million Tons\nSales Volume\n0.32\nYear-end recordable incident\nrate per 200,000 work",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_revenue",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "6538m",
      "golden_context": "Page 90:\n\n period. The balances of customer incentives accrued at December 31, 2021 and\n2020 were not material.\nRevenue Disaggregation\nWe track our revenue by product and by geography. See Note 22—Segment Disclosures for our revenue by reportable\nsegment, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product\nand by geography (based on destination of our shipment) for 2021, 2020 and 2019:\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\n298 65 65 258 103 637\n73 94 306 103 741\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . . . . . 212 — 121 173 804\nTotal revenue . . . . . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nYear ended December 31, 2020\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 874 $ 1,183 $ 998 $ 197 $ 235 $ 3,487\nEurope and other . . . . . . . . . . . . . . . . . . . . 146 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,020 $ 1,248 $ 1,063 $ 455 $ 338 $ 4,124\nYear ended December 31, 2019\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 948 $ 1,269 $ 1,176 $ 200 $ 256 $ 3,849\nEurope and other . . . . . . . . . . . . . . . . . . . . 165 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,113 $ 1,342 $ 1,270 $ 506 $ 359 $ 4,590\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2021,\n2020 and 2019, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control of the product. Forward sales are customarily offered for periods of less than one year ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_revenue_growth",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "6538m, 4124m prior year",
      "golden_context": "Page 90:\n\n period. The balances of customer incentives accrued at December 31, 2021 and\n2020 were not material.\nRevenue Disaggregation\nWe track our revenue by product and by geography. See Note 22—Segment Disclosures for our revenue by reportable\nsegment, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product\nand by geography (based on destination of our shipment) for 2021, 2020 and 2019:\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\n298 65 65 258 103 637\n73 94 306 103 741\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . . . . . 212 — 121 173 804\nTotal revenue . . . . . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nYear ended December 31, 2020\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 874 $ 1,183 $ 998 $ 197 $ 235 $ 3,487\nEurope and other . . . . . . . . . . . . . . . . . . . . 146 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,020 $ 1,248 $ 1,063 $ 455 $ 338 $ 4,124\nYear ended December 31, 2019\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 948 $ 1,269 $ 1,176 $ 200 $ 256 $ 3,849\nEurope and other . . . . . . . . . . . . . . . . . . . . 165 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,113 $ 1,342 $ 1,270 $ 506 $ 359 $ 4,590\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2021,\n2020 and 2019, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control of the product. Forward sales are customarily offered for periods of less than one year ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000286_segments",
      "report_id": "ID_000286",
      "company_name": "CF Industries",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "ammonia, granular urea, UAN, AN and Other",
      "golden_context": "Page 16:\n\nume a 32% nitrogen content basis for production volume.\nWe also provide certain supplementary volume information measured in nutrient tons. Nutrient tons represent the weight\nof the product’s nitrogen content, which varies by product. Ammonia represents 82% nitrogen content, granular urea represents\n46% nitrogen content, UAN represents between 28% and 32% nitrogen content and AN represents between 29% and 35%\nnitrogen content.\nReportable Segments\nOur reportable segments consist of the following segments: ammonia, granular urea, UAN, AN and Other. These\nsegments are differentiated by products. We use gross margin to evaluate segment performance and allocate resources. Total\nother operating costs and expenses (consisting primarily of selling, general and administrative expenses and other operating—\nnet) and non-operating expenses (consisting primarily of interest and income taxes), are centrally managed and are not included\nin the measurement of segment profitability reviewed by management. See Note 22—Segment Disclosures for additional\ninformation.\n3\nCF INDUSTRIES HOLDINGS, INC.\nOur Products\nOur primary nitrogen products are ammonia, granular urea, UAN and AN. Our historical sales of nitrogen products are\nshown in the following table. Net sales do not reflect amounts used internally, such as ammonia, in the manufacture of other\nproducts.\n2021 2020 2019\nSales Volume\n(tons) Net Sales\nSales Volume\n(tons) Net Sales\nSales Volume\n(tons) Net Sales\n(tons in thousands; dollars in millions)\nProducts\nAmmonia . . . . . .",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_cash_flow",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "2.78bn free cash flow",
      "golden_context": "Page 2:\n\n2022 Overview\nFinancial Performance\n$3.35 Billion*\nNet Earnings Attributable to\nCommon Stockholders\n$3.86 Billion*\nNet Cash from Operations\n$2.78 Billion*\nFree Cash Flow(2)\n*\nCompany record\n$5.54 Billion*\nEBITDA(1)\n$5.88 Billion*\nAdjusted EBITDA(1)\nCapital Deployment\n$1.35 Billion\nTo Repurchase 14.9M Shares\n$306 Million\nDividends Paid\n$500 Million\nLong-term Debt Retirement\nOperational Performance\n9.8 Million Tons\nGross Ammonia Production\n18.3 Million Tons\nSales Volume\n0.33\nYear-end Recordable Incident\nRate per 200,000 Work Hours\nABOUT CF INDUSTRIES\nAt CF Industries, our mission is to provide clean energy to\nfeed and fuel the world sustainably. With our employees\nfocused on safe and reliable operations, environmental\nstewardship, and disciplined capital and corporate\nmanagement, we are on a path to decarbonize our\nammonia production network – the world’s largest – to\nenable green and blue hydrogen and nitrogen products for\nenergy, fertilizer, emissions abatement and other industrial\nactivities. Our manufacturing complexes in the United\nStates, Canada, and the United Kingdom, an unparalleled\nstorage, transportation and distribution networ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_company_type",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 12:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-32597\nCF INDUSTRIES HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 20-2697511\n(State or other jurisdiction of\n(I.R.S. Employer Identification\nincorporation or organization)\nNo.)\n4 Parkway North 60015\nDeerfield, Illinois (Zip Code)\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: (847) 405-2400\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class common stock, par value $0.01 per share Trading symbol(s) CF Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated\nfiler ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth\ncompany ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_key_financials",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "3.35bn net earnings attributable to common stockholders, 3.86bn net cash from operations, 5.54bn EBITDA, 2.78bn free cash flow",
      "golden_context": "Page 2:\n\n2022 Overview\nFinancial Performance\n$3.35 Billion*\nNet Earnings Attributable to\nCommon Stockholders\n$3.86 Billion*\nNet Cash from Operations\n$2.78 Billion*\nFree Cash Flow(2)\n*\nCompany record\n$5.54 Billion*\nEBITDA(1)\n$5.88 Billion*\nAdjusted EBITDA(1)\nCapital Deployment\n$1.35 Billion\nTo Repurchase 14.9M Shares\n$306 Million\nDividends Paid\n$500 Million\nLong-term Debt Retirement\nOperational Performance\n9.8 Million Tons\nGross Ammonia Production\n18.3 Million Tons\nSales Volume\n0.33\nYear-end Recordable Incident\nRate per 200,000 Work Hours\nABOUT CF INDUSTRIES\nAt CF Industries, our mission is to provide clean energy to\nfeed and fuel the world sustainably. With our employees\nfocused on safe and reliable operations, environmental\nstewardship, and disciplined capital and corporate\nmanagement, we are on a path to decarbonize our\nammonia production network – the world’s largest – to\nenable green and blue hydrogen and nitrogen products for\nenergy, fertilizer, emissions abatement and other industrial\nactivities. Our manufacturing complexes in the United\nStates, Canada, and the United Kingdom, an unparalleled\nstorage, transportation and distribution networ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_revenue",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "11186m",
      "golden_context": "Page 88:\n\nNDUSTRIES HOLDINGS, INC.\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\n170 642 551 212 298 173 804\n146 65 65 258 103 637\nYear ended December 31, 2022\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 2,659 $ 2,722 $ 2,930 $ 294 $ 605 $ 9,210\nEurope and other . . . . . . . . . . . . . . . . . . . . 431 182 1,976\nTotal revenue . . . . . . . . . . . . . . . . . . . . . $ 3,090 $ 2,892 $ 3,572 $ 845 $ 787 $ 11,186\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . . . . . — 121 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nYear ended December 31, 2020\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 874 $ 1,183 $ 998 $ 197 $ 235 $ 3,487\nEurope and other . . . . . . . . . . . . . . . . . . . . Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,020 $ 1,248 $ 1,063 $ 455 $ 338 $ 4,124\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2022,\n2021 and 2020, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control of the product. Forward sales are customarily offered for periods of less than one year in advance of\nwhen the customer obtains control of the product.\nAs of December 31, 2022 and 2021, we had $229 million and $700 million, respectively, in customer advances on our\nconsolidated balance sheets. The decrease in the balance of customer advances was due primarily to our customers delaying\nfertilizer transactions at the end of 2022 in anticipation that prices in the future would be lower than the current prices. During\n2022, all of our customer advances that were recorded as of December 31, 2021 were recognized as revenue.\nWe have certain customer contracts with performance obligations where if the customer does not take the required\namount of product specified in the contract, then the customer is required to make a payment to us, the amount of which\npayment may vary based upon the terms and conditions of the applicable contract. As of December 31, 2022, excluding\ncontracts with original durations of less than one year, and based on the minimum product tonnage to be sold and current\nmarket price estimates, our remaining performance obligations under these contracts were approximately $1.2 billion. We\nexpect to recognize approximately 45% of these performance obligations as revenue in 2023, approximately 28% as revenue\nduring 2024-2026, approximately 12% as revenue during 2027-2029, and the remainder thereafter. Subject to the terms and\nconditions of the applicable contracts, if these customers do not satisfy their purchase obligations under such contracts, the\nminimum amount that they would be required to pay to us under such contracts, in the aggregate, was approximately\n$335 million as of December 31, 2022. Other tha",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_revenue_growth",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "11186m, prior year 6538m",
      "golden_context": "Page 88:\n\nNDUSTRIES HOLDINGS, INC.\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\n170 642 551 212 298 173 804\n146 65 65 258 103 637\nYear ended December 31, 2022\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 2,659 $ 2,722 $ 2,930 $ 294 $ 605 $ 9,210\nEurope and other . . . . . . . . . . . . . . . . . . . . 431 182 1,976\nTotal revenue . . . . . . . . . . . . . . . . . . . . . $ 3,090 $ 2,892 $ 3,572 $ 845 $ 787 $ 11,186\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . . . . . — 121 Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nYear ended December 31, 2020\nNorth America . . . . . . . . . . . . . . . . . . . . . . $ 874 $ 1,183 $ 998 $ 197 $ 235 $ 3,487\nEurope and other . . . . . . . . . . . . . . . . . . . . Total revenue . . . . . . . . . . . . . . . . . . . . . $ 1,020 $ 1,248 $ 1,063 $ 455 $ 338 $ 4,124\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2022,\n2021 and 2020, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control of the product. Forward sales are customarily offered for periods of less than one year in advance of\nwhen the customer obtains control of the product.\nAs of December 31, 2022 and 2021, we had $229 million and $700 million, respectively, in customer advances on our\nconsolidated balance sheets. The decrease in the balance of customer advances was due primarily to our customers delaying\nfertilizer transactions at the end of 2022 in anticipation that prices in the future would be lower than the current prices. During\n2022, all of our customer advances that were recorded as of December 31, 2021 were recognized as revenue.\nWe have certain customer contracts with performance obligations where if the customer does not take the required\namount of product specified in the contract, then the customer is required to make a payment to us, the amount of which\npayment may vary based upon the terms and conditions of the applicable contract. As of December 31, 2022, excluding\ncontracts with original durations of less than one year, and based on the minimum product tonnage to be sold and current\nmarket price estimates, our remaining performance obligations under these contracts were approximately $1.2 billion. We\nexpect to recognize approximately 45% of these performance obligations as revenue in 2023, approximately 28% as revenue\nduring 2024-2026, approximately 12% as revenue during 2027-2029, and the remainder thereafter. Subject to the terms and\nconditions of the applicable contracts, if these customers do not satisfy their purchase obligations under such contracts, the\nminimum amount that they would be required to pay to us under such contracts, in the aggregate, was approximately\n$335 million as of December 31, 2022. Other tha",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000287_segments",
      "report_id": "ID_000287",
      "company_name": "CF Industries",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Ammonia, Granular Urea, UAN, AN and Other",
      "golden_context": "Page 17:\n\nertain supplementary volume information measured in nutrient tons. Nutrient tons represent the weight\nof the product’s nitrogen content, which varies by product. Ammonia represents 82% nitrogen content, granular urea represents\n46% nitrogen content, UAN represents between 28% and 32% nitrogen content and AN represents between 29% and 35%\nnitrogen content.\nReportable Segments\nOur reportable segments consist of the following segments: Ammonia, Granular Urea, UAN, AN and Other. These\nsegments are differentiated by products. We use gross margin to evaluate segment performance and allocate resources. Total\nother operating costs and expenses (consisting primarily of selling, general and administrative expenses and other operating—\nnet) and non-operating expenses (consisting primarily of interest and income taxes), are centrally managed and are not included\nin the measurement of segment profitability reviewed by management. See Note 21—Segment Disclosures for additional\ninformation.\n3\nCF INDUSTRIES HOLDINGS, INC.\nOur Products",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_cash_flow",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "1.8bn free cash flow",
      "golden_context": "Page 2:\n\n2023 Overview\nFinancial Performance\n$1.53 Billion\nNet Earnings Attributable to\nCommon Stockholders\n$2.71 Billion\nEBITDA(1)\n$2.76 Billion\nAdjusted EBITDA(1)\n$2.76 Billion\nNet Cash from Operations\n$1.80 Billion\nFree Cash Flow(2)\nSafety\nAs of December 31, 2023, the Company’s\n12-month rolling average recordable incident\nrate was 0.36 incidents per 200,000 work hours\n– significantly better than industry averages.\nOperational Excellence",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_company_type",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 12:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-32597\nCF INDUSTRIES HOLDINGS, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 20-2697511\n(State or other jurisdiction of\n(I.R.S. Employer Identification\nincorporation or organization)\nNo.)\n2375 Waterview Drive 60062\nNorthbrook, Illinois (Zip Code)\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: (847) 405-2400\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class common stock, par value $0.01 per share Trading symbol(s) CF Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_key_financials",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "1.53bn net earnings attributable to common stockholders, 2.71bn EBITDA, 1.8bn free cash flow",
      "golden_context": "Page 2:\n\n2023 Overview\nFinancial Performance\n$1.53 Billion\nNet Earnings Attributable to\nCommon Stockholders\n$2.71 Billion\nEBITDA(1)\n$2.76 Billion\nAdjusted EBITDA(1)\n$2.76 Billion\nNet Cash from Operations\n$1.80 Billion\nFree Cash Flow(2)\nSafety\nAs of December 31, 2023, the Company’s\n12-month rolling average recordable incident\nrate was 0.36 incidents per 200,000 work hours\n– significantly better than industry averages.\nOperational Excellence",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_revenue",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "6631m",
      "golden_context": "Page 90:\n\ntion\nWe track our revenue by product and by geography. See Note 22—Segment Disclosures for our revenue by reportable\nsegment, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product\nand by geography (based on destination of our shipment) for 2023, 2022 and 2021:\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\nYear ended December 31, 2023\nNorth America . . . . . . . . . . . . . . . . . . $ 1,387 $ 1,767 $ 1,646 $ 253 $ 486 $ 5,539\nEurope and other . . . . . . . . . . . . . . . . 292 56 422 244 78 1,092\nTotal revenue . . . . . . . . . . . . . . . . . $ 1,679 $ 1,823 $ 2,068 $ 497 $ 564 $ 6,631\nYear ended December 31, 2022\nNorth America . . . . . . . . . . . . . . . . . . $ 2,659 $ 2,722 $ 2,930 $ 294 $ 605 $ 9,210\nEurope and other . . . . . . . . . . . . . . . . 431 170 642 551 182 1,976\nTotal revenue . . . . . . . . . . . . . . . . . $ 3,090 $ 2,892 $ 3,572 $ 845 $ 787 $ 11,186\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . 212 — 121 298 173 804\nTotal revenue . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2023,\n2022 and 2021, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_revenue_growth",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "6631, 11186 prior year",
      "golden_context": "Page 90:\n\ntion\nWe track our revenue by product and by geography. See Note 22—Segment Disclosures for our revenue by reportable\nsegment, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product\nand by geography (based on destination of our shipment) for 2023, 2022 and 2021:\nGranular\nAmmonia\nUrea UAN AN Other Total\n(in millions)\nYear ended December 31, 2023\nNorth America . . . . . . . . . . . . . . . . . . $ 1,387 $ 1,767 $ 1,646 $ 253 $ 486 $ 5,539\nEurope and other . . . . . . . . . . . . . . . . 292 56 422 244 78 1,092\nTotal revenue . . . . . . . . . . . . . . . . . $ 1,679 $ 1,823 $ 2,068 $ 497 $ 564 $ 6,631\nYear ended December 31, 2022\nNorth America . . . . . . . . . . . . . . . . . . $ 2,659 $ 2,722 $ 2,930 $ 294 $ 605 $ 9,210\nEurope and other . . . . . . . . . . . . . . . . 431 170 642 551 182 1,976\nTotal revenue . . . . . . . . . . . . . . . . . $ 3,090 $ 2,892 $ 3,572 $ 845 $ 787 $ 11,186\nYear ended December 31, 2021\nNorth America . . . . . . . . . . . . . . . . . . $ 1,575 $ 1,880 $ 1,667 $ 212 $ 400 $ 5,734\nEurope and other . . . . . . . . . . . . . . . . 212 — 121 298 173 804\nTotal revenue . . . . . . . . . . . . . . . . . $ 1,787 $ 1,880 $ 1,788 $ 510 $ 573 $ 6,538\nAccounts Receivable and Customer Advances\nOur customers purchase our products through sales on credit or forward sales. Products sold to our customers on credit\nare recorded as accounts receivable when the customer obtains control of the product. Customers that purchase our products on\ncredit are required to pay in accordance with our customary payment terms, which are generally less than 30 days. For 2023,\n2022 and 2021, the amount of customer bad debt expense recognized was not material.\nFor forward sales, the customer prepays a portion of the value of the sales contract prior to obtaining control of the\nproduct. These prepayments, when received, are recorded as customer advances and are recognized as revenue when the\ncustomer obtains control",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000288_segments",
      "report_id": "ID_000288",
      "company_name": "CF Industries",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Ammonia, Granular Urea, UAN, AN and Other",
      "golden_context": "Page 18:\n\nuct measured in short tons (one short ton is equal to 2,000 pounds). References to\nUAN product tons assume a 32% nitrogen content basis for production volume.\nWe also provide certain supplementary volume information measured in nutrient tons. Nutrient tons represent the weight\nof the product’s nitrogen content, which varies by product. Ammonia represents 82% nitrogen content, granular urea represents\n46% nitrogen content, UAN represents between 28% and 32% nitrogen content and AN represents between 29% and 35%\nnitrogen content.\nReportable Segments\nOur reportable segments consist of the following segments: Ammonia, Granular Urea, UAN, AN and Other. These\nsegments are differentiated by products. We use gross margin to evaluate segment performance and allocate resources. Total\nother operating costs and expenses (consisting primarily of selling, general and administrative expenses and other operating—\nnet) and non-operating expenses (consisting primarily of interest and income taxes), are centrally managed and are not included\nin the measurement of segment profitability reviewed by management. See Note 22—Segment Disclosures for additional\ninformation.\nOur Products\nOur primary nitrogen products are ammonia, granular urea, UAN and AN. Our historical sales of nitrogen products by\nsegment are shown in the following table. Net sales do not reflect amounts used internally, such as ammonia, in the\nmanufacture of other products.\n2023 2022 2021\nSales Volume\nSales Volume\nSales Volume\n(tons) Net Sales\n(tons) Net Sales\n(tons) Net Sales\n(tons in thousands; dollars in millions)\nAmmonia . . . . . . 3,546 $ 1,679 3,300 $ 3,090 3,589 $ 1,787\nGranular Urea . . . 4,570 1,823 4,572 2,892 4,290 1,880\nUAN . . . . . . . . . . 7,237 2,068 6,788 3,572 6,584 1,788\nAN . . . . . . . . . . . 1,571 497 1,594 845 1,720 510\nOther(1)\n. . . . . . . . 2,206 564 2,077 787 2,318 573\nTotal . . . . . . . . . . . 19,130 $ 6,631 18,331 $ 11,186 18,501 $ 6,538\n_______________________________________________________________________________\n(1) Other segment products primarily include DE",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_cash_flow",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 706m, investing: -69m, financing: -1903m",
      "golden_context": "Page 130:\n\nCash flows\nThe following table summarizes our cash flow activities in fiscal 2021, 2020 and 2019:\nFiscal Year\n2021 2020 2019\n(In millions)\nNet cash provided by (used in):\nOperating activities $ 706 $ (861) $ 1,495\nInvesting activities $ (69) $ 11,379 $ (241)\nFinancing activities $ (1,903) $ (10,123) $ (1,209)\nIncrease (decrease) in cash and cash equivalents $ (1,244) $ 386 $ 17\nCash from operating activities\nFiscal 2021\nOur cash from operating activities in fiscal 2021 reflected net income of $554 million, adjusted by\nnon-cash items, primarily consisting of amortization and depreciation of $150 million, impairments of\ncurrent and long-lived assets of $90 million, stock-based compensation expense of $81 million, deferred\nincome taxes of $42 million, and gain on sale of properties of $98 million.\nChanges in operating assets and liabilities during fiscal 2021 consisted primarily of the following:\nContract liabilities increased $118 million, primarily due to higher billings than recognized revenue.\nAccounts payable decreased $44 million, primarily due to a reduction in operating costs in\nconnection with our November 2019 Plan, which was completed during fiscal 2021.\nIncome taxes payable decreased $299 million primarily due to tax payments made during fiscal\n2021, including payments related to the Broadcom sale, payments of federal and foreign income taxes,\nand a decrease as a result of favorable tax rulings. During fiscal 2021, we made aggregate tax\npayments of $341 million related to these transactions.\nFiscal 2020\nOur cash flows for fiscal 2020 reflected net income of $3,887 million, adjusted by non-cash items,\nprimarily consisting of gains on divestitures of $5,684 million and a gain on the sale of our equity method\ninvestment of $379 million, amortization and depreciation of $361 million, and stock-based\ncompensation of $312 million.\nChanges in operating asset",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_company_type",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 90:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended April 2, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition Period from to\nCommission File Number 000-17781\nNortonLifeLock Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n60 E. Rio Salado Parkway,\nSuite 1000, Tempe, Arizona\n(Address of principal executive offices)\n77-0181864\n(I.R.S. Employer\nIdentification No.)\n85281\n(Zip code)\nRegistrant’s telephone number, including area code:\n(650) 527-8000\nTitle of each class Common Stock, par value $0.01 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading symbol(s) NLOK Name of each exchange on which registered\nThe Nasdaq Stock Market LLC\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nAggregate market value of the voting stock held by non-affiliates of the registrant, based upon the closing sale price of NortonLifeLock common\nstock on October 2, 2020 as reported on the Nasdaq Global Select Market: $6,903,176,338.Solely for purposes of this disclosure, shares of common\nstock held by each executive officer, director, and holder of 5% or more of the outstanding common stock have been excluded as of such date because\nsuch persons may be deemed to be affiliates. This determination of possible affiliate status is not a conclusive determination for any other purposes.\nThe number of shares of NortonLifeLock common stock, $0.01 par value per share, outstanding as of May 11, 2021 was 579,9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_key_financials",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "operating income: 896m, net income: 554m",
      "golden_context": "Page 6:\n\nNORTONLIFELOCK INC.\nRECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES(1)(2)\n(In millions, except per share data, unaudited)\nThree Months Ended Year Ended\nApril 2, 2021 April 3, 2020 April 2, 2021 April 3, 2020\nOperating income . . . . . . . . . . . . . . . . . $ 266 $ 44 $ 896 $ 355\nContract liabilities fair value\nadjustment . . . . . . . . . . . . . . . . . . . . 5 — 5 —\nStock-based compensation . . . . . . . . . . 13 28 71 119\nAmortization of intangible assets . . . . . . 31 25 105 109\nRestructuring and other costs . . . . . . . . 19 138 161 266\nAcquisition and integration costs . . . . . . 3 — 4 —\nLitigation settlement charges . . . . . . . . . 4 20 29 20\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . 1 — — —\nOperating income (Non-GAAP) . . . . . . . $ 342 $ 255 $ 1,271 $ 869\nOperating margin. . . . . . . . . . . . . . . . . . 39.6% 7.2% 35.1% 14.3%\nOperating margin (Non-GAAP). . . . . . . 50.5% 41.5% 49.7% 34.9%\nNet income . . . . . . . . . . . . . . . . . . . . . . . $ 194 $ 231 $ 554 $ 3,887\nAdjustments to income from continuing\noperations:\nContract liabilities fair value\nadjustment . . . . . . . . . . . . . . . . . . . . 5 — 5 —\nStock-based compensation . . . . . . . . . . 13 26 70 120\nAmortization of intangible assets . . . . . . 31 25 105 109\nRestructuring and other costs . . . . . . . . 19 138 161 266\nAcquisition and integration costs . . . . . . 3 — 4 —\nLitigation settlement charges . . . . . . . . . 4 20 29 20\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . 5 (1) 2 (1)\nNon-cash interest expense . . . . . . . . . . 2 5 9 23\nGain on divestitures and sale of equity\nmethod investment . . . . . . . . . . . . . . — (250) — (629)\nGain on extinguishment of debt . . . . . . . — — (20) —\nLoss from equity method investment . . . — — — 31\nGain on sale of properties . . . . . . . . . . . (63) — ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_revenue",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2551m",
      "golden_context": "Page 8:\n\nNORTONLIFELOCK INC.\nCONSUMER REVENUES, CONSUMER REPORTED BILLINGS AND CONSUMER CYBER\nSAFETY METRICS\n(In millions, except per user data, unaudited)\nConsumer Revenues (Non-GAAP)\nThree Months Ended Year Ended\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nVariance in\n%\n9% $ 2,551 $ 2,490 5 —\n— (46)\nApril 2,\n2021\nApril 3,\n2020\nRevenues(1) . . . . . . . . . . . . . . . . . . . . . $ 672 $ 614 2%\nContract liabilities fair value\nadjustment(2) . . . . . . . . . . . . . . . . . 5 — Exclude revenues from ID\nAnalytics(3) . . . . . . . . . . . . . . . . . . . — (4) Consumer revenues (Non-GAAP) . . . . . . 677 610 11% 2,556 2,444 5%\nExclude foreign exchange impact(4) . . . (14) — (28) —\nConstant currency adjusted consumer\nrevenues (Non-GAAP) . . . . . . . . . . . . 663 610 9% 2,528 2,444 3%\nExclude extra week impact(1) . . . . . . . — — — (44)\nConstant currency and extra week\nadjusted consumer revenues (Non-\nGAAP) . . . . . . . . . . . . . . . . . . . . . . . $ 5%\n663 $ 610 9% $ 2,528 $ 2,400 Consumer Reported Billings (Non-GAAP)\nThree Months Ended Year Ended\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nRevenues(1) . . . . . . . . . . . . . . . . . . . $ 672 $ 614 9% $ 2,551 $ 2,490 2%\nAdd: Contract liabilities (end of\nperiod) . . . . . . . . . . . . . . . . . . . 1,265 1,076 1,265 1,076\nLess: Contract liabilities (beginning\nof period) . . . . . . . . . . . . . . . . . (1,135) (1,047) (1,076) (1,059)\nAdd: Other contract liabilities\nadjustment(5)\n. . . . . . . . . . . . . . . (54) — (54) 5\nReported billings (Non-GAAP) . . . . . 748 643 16% 2,686 2,512 7%\nExclude revenue from ID\nAnalytics(3) . . . . . . . . . . . . . . . . — (4) — (46)\nConsumer reported billings (Non-\nGAAP) . . . . . . . . . . . . . . . . . . . . . 748 639 17% 2,686 2,466 9%\nExclude extra week impact(1) . . . . . — — — (44)\nConsumer reported billings excluding\nextra week impact (Non-GAAP) . . . $ 748 $ 639 17% $ 2,686 $ 2,422 11",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_revenue_growth",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "2551m, prior year 2490m",
      "golden_context": "Page 8:\n\nNORTONLIFELOCK INC.\nCONSUMER REVENUES, CONSUMER REPORTED BILLINGS AND CONSUMER CYBER\nSAFETY METRICS\n(In millions, except per user data, unaudited)\nConsumer Revenues (Non-GAAP)\nThree Months Ended Year Ended\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nVariance in\n%\n9% $ 2,551 $ 2,490 5 —\n— (46)\nApril 2,\n2021\nApril 3,\n2020\nRevenues(1) . . . . . . . . . . . . . . . . . . . . . $ 672 $ 614 2%\nContract liabilities fair value\nadjustment(2) . . . . . . . . . . . . . . . . . 5 — Exclude revenues from ID\nAnalytics(3) . . . . . . . . . . . . . . . . . . . — (4) Consumer revenues (Non-GAAP) . . . . . . 677 610 11% 2,556 2,444 5%\nExclude foreign exchange impact(4) . . . (14) — (28) —\nConstant currency adjusted consumer\nrevenues (Non-GAAP) . . . . . . . . . . . . 663 610 9% 2,528 2,444 3%\nExclude extra week impact(1) . . . . . . . — — — (44)\nConstant currency and extra week\nadjusted consumer revenues (Non-\nGAAP) . . . . . . . . . . . . . . . . . . . . . . . $ 5%\n663 $ 610 9% $ 2,528 $ 2,400 Consumer Reported Billings (Non-GAAP)\nThree Months Ended Year Ended\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nVariance in\n%\nApril 2,\n2021\nApril 3,\n2020\nRevenues(1) . . . . . . . . . . . . . . . . . . . $ 672 $ 614 9% $ 2,551 $ 2,490 2%\nAdd: Contract liabilities (end of\nperiod) . . . . . . . . . . . . . . . . . . . 1,265 1,076 1,265 1,076\nLess: Contract liabilities (beginning\nof period) . . . . . . . . . . . . . . . . . (1,135) (1,047) (1,076) (1,059)\nAdd: Other contract liabilities\nadjustment(5)\n. . . . . . . . . . . . . . . (54) — (54) 5\nReported billings (Non-GAAP) . . . . . 748 643 16% 2,686 2,512 7%\nExclude revenue from ID\nAnalytics(3) . . . . . . . . . . . . . . . . — (4) — (46)\nConsumer reported billings (Non-\nGAAP) . . . . . . . . . . . . . . . . . . . . . 748 639 17% 2,686 2,466 9%\nExclude extra week impact(1) . . . . . — — — (44)\nConsumer reported billings excluding\nextra week impact (Non-GAAP) . . . $ 748 $ 639 17% $ 2,686 $ 2,422 11",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000289_segments",
      "report_id": "ID_000289",
      "company_name": "NortonLifeLock",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 179:\n\nersion features of the convertible debt instruments were anti-dilutive during fiscal 2019\ndue to a loss from continuing operations.\nNote 17. Segment and Geographic Information\nWe operate as one reportable segment. Our Chief Operating Decision Maker reviews financial\ninformation presented on a consolidated basis to evaluate company performance and to allocate\nresources.\nThe following table summarizes net revenues for our major solutions:\nYear Ended\nApril 2, 2021 April 3, 2020 March 29, 2019\n(In millions) Consumer security $ 1,513 $ 1,450 $ 1,471\nIdentity and information protection 1,038 994 937\nID Analytics — 46 48\nTotal net revenues $ 2,551 $ 2,490 $ 2,456\nFrom time to time, changes in our product hierarchy cause changes to the product categories\nabove. When changes occur, we recast historical amounts to match the current product hierarchy. The\nchanges have been reflected for all periods presented above. Consumer security products include our\nNorton 360 Security offerings, Norton Security, Norton Secure VPN, Avira Security, and other consumer\nsecurity solutions. Identity and information protection products include our Norton 360 with LifeLock\nofferings, LifeLock identity theft protection and other information protection solutions. Our ID Analytics\nsolutions were divested on January 31, 2020.\nGeographic information\nNet revenues by geography are based on the billing addresses of our customers. The following\ntable represents net revenues by geographic area for the periods presented:\nYear Ended\nApril 2, 2021 April 3, 2020 March 29, 2019\n(In millions) Americas $ 1,827 $ 1,831 $ 1,786\nEMEA 419 376 392\nAPJ 305 283 278\nTotal net revenues $ 2,551 $ 2,490 $ 2,456\nNote: The Americas include U.S., Canada, and Latin America; EMEA includes Europe, Middle East, and Africa; APJ includes\nAsia Pacific and Japan\nRevenues from customers inside the U.S. were $1,742 million, $1,747 million, and $1,700 million\nduring fiscal 2021, 2020, and 2019, respectively. No other individual country accounted for more than\n10% of reven",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_cash_flow",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "968m free cash flow",
      "golden_context": "Page 3:\n\n10% 53% $1.75 $968M\nGrowth EPS*\n900K+\nNet New Customers\n(600K Di t I di t*) M b\n(600K Direct + Indirect*)\nMembers\n*Mobile & Employee\n14M+\nNorton 360\nRevenue* $2.8B Op. Margin* +22% Growth Free Cash Flow*\nExpansion and Value Creation\n10+ 16%\nNew Products &\nFeatures Launched\nInternational\nRevenue Growth\nbillion in non-GAAP revenue and grew our non-GAAP\nrevenue over 10% year-over-year. This was our third\nconsecutive year of bookings growth and customer\nexpansion. Our top-line growth was supported by strong\n23% $8.90\nPartners\nRevenue Growth\nfor the year.\n85%+ 45+\nDirect customer\nretention rate\nNet Promoter\nScore\nWe meaningfully scaled our business globally and delivered\nan international revenue growth of 16%, while maintaining\nan industry-leading direct customer retention rate above\nour overall customer satisfaction in the last 12 months and\n*\nNon-GAAP Financial Information” secti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_company_type",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 120:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended April 1, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition Period from to\nCommission File Number 000-17781\nNortonLifeLock Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n60 E. Rio Salado Parkway,\nSuite 1000, Tempe, Arizona\n(Address of principal executive offices)\n77-0181864\n(I.R.S. Employer\nIdentification No.)\n85281\n(Zip code)\nRegistrant’s telephone number, including area code:\n(650) 527-8000\nTitle of each class Common Stock, par value $0.01 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading symbol(s) NLOK Name of each exchange on which registered\nThe Nasdaq Stock Market LLC\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nAggregate market value of the voting stock held by non-affiliates of the registrant, based upon the closing sale price of NortonLifeLock common\nstock on October 1, 2021 as reported on the Nasdaq Global Select Market: $9,832,405,362.Solely for purposes of this disclosure, shares of common\nstock held by each executive officer, director, and holder of 5% or more of the outstanding common stock have been excluded as of such date because\nsuch persons may be deemed to be affiliates. This determination of possible affiliate status is not a conclusive determination for any other purposes.\nThe number of shares of NortonLifeLock common stock, $0.01 par value per share, outstanding as of May 19, 2022 was 580,064,068 shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the registrant’s definitive proxy statement for the 2022 annual meeting of stockholders are incorporated herein by reference into Part III",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_key_financials",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "10% growth, 53% operating margin, 1.75 EPS, 968m free cash flow",
      "golden_context": "Page 3:\n\n10% 53% $1.75 $968M\nGrowth EPS*\n900K+\nNet New Customers\n(600K Di t I di t*) M b\n(600K Direct + Indirect*)\nMembers\n*Mobile & Employee\n14M+\nNorton 360\nRevenue* $2.8B Op. Margin* +22% Growth Free Cash Flow*\nExpansion and Value Creation\n10+ 16%\nNew Products &\nFeatures Launched\nInternational\nRevenue Growth\nbillion in non-GAAP revenue and grew our non-GAAP\nrevenue over 10% year-over-year. This was our third\nconsecutive year of bookings growth and customer\nexpansion. Our top-line growth was supported by strong\n23% $8.90\nPartners\nRevenue Growth\nfor the year.\n85%+ 45+\nDirect customer\nretention rate\nNet Promoter\nScore\nWe meaningfully scaled our business globally and delivered\nan international revenue growth of 16%, while maintaining\nan industry-leading direct customer retention rate above\nour overall customer satisfaction in the last 12 months and\n*\nNon-GAAP Financial Information” secti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_revenue",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "2.2bn",
      "golden_context": "Page 3:\n\n10% 53% $1.75 $968M\nGrowth EPS*\n900K+\nNet New Customers\n(600K Di t I di t*) M b\n(600K Direct + Indirect*)\nMembers\n*Mobile & Employee\n14M+\nNorton 360\nRevenue* $2.8B Op. Margin* +22% Growth Free Cash Flow*\nExpansion and Value Creation\n10+ 16%\nNew Products &\nFeatures Launched\nInternational\nRevenue Growth\nbillion in non-GAAP revenue and grew our non-GAAP\nrevenue over 10% year-over-year. This was our third\nconsecutive year of bookings growth and customer\nexpansion. Our top-line growth was supported by strong\n23% $8.90\nPartners\nRevenue Growth\nfor the year.\n85%+ 45+\nDirect customer\nretention rate\nNet Promoter\nScore\nWe meaningfully scaled our business globally and delivered\nan international revenue growth of 16%, while maintaining\nan industry-leading direct customer retention rate above\nour overall customer satisfaction in the last 12 months and\n*\nNon-GAAP Financial Information” secti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_revenue_growth",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "10% growth",
      "golden_context": "Page 3:\n\n10% 53% $1.75 $968M\nGrowth EPS*\n900K+\nNet New Customers\n(600K Di t I di t*) M b\n(600K Direct + Indirect*)\nMembers\n*Mobile & Employee\n14M+\nNorton 360\nRevenue* $2.8B Op. Margin* +22% Growth Free Cash Flow*\nExpansion and Value Creation\n10+ 16%\nNew Products &\nFeatures Launched\nInternational\nRevenue Growth\nbillion in non-GAAP revenue and grew our non-GAAP\nrevenue over 10% year-over-year. This was our third\nconsecutive year of bookings growth and customer\nexpansion. Our top-line growth was supported by strong\n23% $8.90\nPartners\nRevenue Growth\nfor the year.\n85%+ 45+\nDirect customer\nretention rate\nNet Promoter\nScore\nWe meaningfully scaled our business globally and delivered\nan international revenue growth of 16%, while maintaining\nan industry-leading direct customer retention rate above\nour overall customer satisfaction in the last 12 months and\n*\nNon-GAAP Financial Information” secti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000290_segments",
      "report_id": "ID_000290",
      "company_name": "NortonLifeLock",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 208:\n\nConvertible Senior Notes due April 1, 2022 N/A N/A $ 8.40\n2.0% Convertible Senior Notes due August 15, 2022 N/A N/A $ 10.23\nNew 2.5% Convertible Senior Notes due April 1, 2022 N/A $ 16.77 $ 16.77\nNew 2.0% Convertible Senior Notes due August 15, 2022 $ 20.41 $ 20.41 $ 20.41\nNote 17. Segment and Geographic Information\nWe operate as one reportable segment. Our Chief Operating Decision Maker reviews financial\ninformation presented on a consolidated basis to evaluate company performance and to allocate\nresources.\nThe following table summarizes net revenues for our major solutions:\nYear Ended\nApril 1, 2022 April 2, 2021 April 3, 2020\n$ 2,796 $ 2,551 $ 2,490\n(In millions) Consumer security $ 1,669 $ 1,513 $ 1,450\nIdentity and information protection 1,127 1,038 994\nID Analytics — — 46\nTotal net revenues Consumer security products include our Norton 360 Security offerings, Norton Security, Norton\nSecure VPN, Avira Security and other consumer security solutions. Identity and information protection\nproducts include our Norton 360 with LifeLock offerings, LifeLock identity theft protection and other\ninformation protection solutions. Our ID Analytics solutions were divested on January 31, 2020.\nGeographic information\nNet revenues by geography are based on the billing addresses of our customers. The following\ntable represents net revenues by geographic area for the periods presented:\nYear Ended\nApril 1, 2022 April 2, 2021 April 3, 2020\n(In millions) Americas $ 1,963 $ 1,827 $ 1,831\nEMEA 506 419 376\nAPJ 327 305 283\nTotal net reve",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_cash_flow",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow 751m",
      "golden_context": "Page 6:\n\nGEN DIGITAL INC.\nReconciliation of Selected GAAP Measures to Non-GAAP Measures (1) (2)\n(Unaudited, in millions, except per share amounts)\nYear Ended\nMarch 31, 2023 April 1, 2022\nOperating income (loss) $ 1,227 $ 1,005\nContract liabilities fair value adjustment 2 11\nStock-based compensation 123 70\nAmortization of intangible assets 308 124\nRestructuring and other costs 69 31\nAcquisition and integration costs 77 37\nLitigation costs 29 202\nOperating income (loss) (Non-GAAP) $ 1,835 $ 1,480\nOperating margin 36.8 % 35.9 %\nOperating margin (Non-GAAP) 54.9 % 52.7 %\nOperating cash flow $ 757 $ 979\nPurchases of property and equipment (6) (6)\nFree cash flow (Non-GAAP) $ 751 $ 973\n$ 1,349 $ 836\nNet income (loss) Adjustments to net income (loss)\nContract liabilities fair value adjustment 2 11\nStock-based compensation 123 70\nAmortization of intangible assets 308 124\nRestructuring and other costs 69 31\nAcquisition and integration costs 77 37\nLitigation costs 29 202\nOther 18 7\nNon-cash interest expense 17 8\nLoss (gain) on extinguishment of debt 9 3\nGain on sale of properties — (175)\nTotal adjustments to GAAP income (loss) before income taxes Adjustment to GAAP provision for income taxes (880) (120)\nTotal adjustment to income (loss), net of taxes Net income (loss) (Non-GAAP) $ 1,121 $ 1,034",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_company_type",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 113:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended March 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition Period from to\nCommission File Number 000-17781\nGen Digital Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n60 E. Rio Salado Parkway,\nSuite 1000, Tempe, Arizona\n(Address of principal executive offices)\n77-0181864\n(I.R.S. Employer\nIdentification No.)\n85281\n(Zip code)\nRegistrant’s telephone number, including area code:\n(650) 527-8000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Stock, par value $0.01 per share GEN The Nasdaq Stock Market LLC\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n(Title of class)\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included\nin the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nAggregate market value of the voting stock held by non-affiliates of the registrant, based upon the closing sale price of Gen Digital\n(f/k/a NortonLifeLock Inc.) common stock on September 30, 2022 as reported on the Nasdaq Global Select Market: $9,340,370,900, based on a per\nshare stock price of $20.14. Solely for purposes of this disclosure, shares of common stock held by each executive officer, director, and holder of 5% or\nmore of the outstanding common stock have been excluded as of such date because such persons may be deemed to be affiliates. This determination of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_key_financials",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "1.81 EPS, operating income 1227m, net income 1121m",
      "golden_context": "Page 3:\n\nY23 Snapshot\nCore Cyber Safety Metrics\nPost-Avast Merger\nNon-GAAP Metrics\n$3.3B+ Revenue\n+23% CC\n38M+\nDirect\nCustomers\n$3.7B+\nTotal Bookings\nExit Run-Rate\n40+\nNPS\nScore\n55% Op Margin\n+220 bps\n$7.24\nDirect Monthly\nARPU\n10+\nNew Products &\nFeatures Launched\n76%\nDirect\nRetention\n$1.81 EPS\n+10% CC\n60%\nCustomers\nOutside of U.S.\n65M\nTotal Paid\nCustomers\nDear Investors,\nIn fiscal year 2023, we delivered our 4th straight year\nof organic growth, successfully integrated Avast with\nNortonLifeLock, and introduced Gen to the world.\nWe completed a strong year with a record $3.3 billion in\nnon-GAAP revenue and record total bookings of more than\n$3.7 billion on an exit run-rate. Our growth was supported by\nstrong profitability of 55% non-GAAP operating profit margin\nand $1.81 in non-GAAP EPS.\nIn the year, we scaled our business globally, diversified our\ngo-to-market channels and extended our reach. We also\nexpanded our Cyber Safety pillars: security, identity, and\nonline privacy. Now as Gen, 60% of our customers are\noutside of the U.S. and our products and solutions are\noffered in more than 150 countries.\nWe’re bringi\n\nPage 5:\n\nGEN DIGITAL INC.\nReconciliation of Selected GAAP Measures to Non-GAAP Measures (1) (2)\n(Unaudited, in millions, except per share amounts)\nYear Ended\nMarch 31, 2023 April 1, 2022\nOperating income (loss) $ 1,227 $ 1,005\nContract liabilities fair value adjustment 2 11\nStock-based compensation 123 70\nAmortization of intangible assets 308 124\nRestructuring and other costs 69 31\nAcquisition and integration costs 77 37\nLitigation costs 29 202\nOperating income (loss) (Non-GAAP) $ 1,835 $ 1,480\nOperating margin 36.8 % 35.9 %\nOperating margin (Non-GAAP) 54.9 % 52.7 %\nOperating cash flow $ 757 $ 979\nPurchases of property and equipment (6) (6)\nFree cash flow (Non-GAAP) $ 751 $ 973\n$ 1,349 $ 836\nNet income (loss) Adjustments to net income (loss)\nContract liabilities fair value adjustment 2 11\nStock-based compensation 123 70\nAmortization of intangible assets 308 124\nRestructuring and other costs 69 31\nAcquisition and integration costs 77 37\nLitigation costs 29 202\nOther 18 7\nNon-cash interest expense 17 8\nLoss (gain) on extinguishment of debt 9 3\nGain on sale of properties — (175)\nTotal adjustments to GAAP income (loss) before income taxes Adjustment to GAAP provision for income taxes (880) (120)\nTotal adjustment to income (loss), net of taxes Net income (loss) (Non-GAAP) $ 1,121 $ 1,034",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_revenue",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "3338m",
      "golden_context": "Page 8:\n\nGEN DIGITAL INC.\nRevenues and Cyber Safety Metrics\n(Unaudited, in millions, except per user data and percentages)\nRevenues (Non-GAAP)\nYear Ended\nMarch 31,\n2023 April 1, 2022\nVariance in\n%\n$ 3,338 $ 2,796 19 %\nContract liabilities fair value adjustment (1) 2 11\nRevenues Revenues (Non-GAAP) 3,340 2,807 19 %\nExclude foreign exchange impact (2) 113 —\nConstant currency adjusted revenues (Non-GAAP) $ 3,453 $ 2,807 23 %\nCyber Safety Metrics\nYear Ended (3)\nMarch 31, 2023\n(4) April 1, 2022\nDirect customer revenues $ 2,933 $ 2,488\nPartner revenues $ 341 $ 269\nTotal Cyber Safety revenues $ 3,274 $ 2,757\nLegacy revenues $ 66 $ 50\nDirect customer count (at quarter end) 38.2 24.4\nDirect average revenue per user (ARPU) $ 7.10 $ 8.63\nAnnual retention rate (5) 76 % 84 %\n(1) Contract liabilities fair value adjustment represents the quarterly Avira deferred revenue haircut amortization recognized during\n(2) (3) (4) (5) the quarter.\nCalculated using year ago foreign exchange rates.\nFrom time to time, changes in our product hierarchy cause changes to the revenue channels above. When changes occur, we\nrecast historical amounts to match the current revenue channels. Direct revenues currently includes Mobile App Store\ncustomers, and legacy revenues includes revenues from products or solutions that are no longer in operations in exited\nmarkets, have been discontinued or identified to be discontinued, or remain in maintenance mode as a result of integration and\nproduct portfolio decisions. As such, the changes to historical revenue amounts and the other performance metrics, including\ndirect customer count and ARPU, are reflected for all periods presented above.\nThe performance metrics for the year ended March 31, 2023 include the revenues earned and customers acquired through our\nMerger with Avast. ARPU is based on average customer count and assumes full quarter of revenue for both companies. Due\nto the timing of the close of the Merger in the second quarter of fiscal 2023, the fiscal 2023 ARPU is based on the average\nARPU for second, third, and fourth quarter of fiscal 2023, but excludes the first quarter of fiscal 2023.\nThe annual retention rate for fiscal 2023 includes the customer portfolio acquired",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_revenue_growth",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "3338m, prior year 2796m",
      "golden_context": "Page 8:\n\nGEN DIGITAL INC.\nRevenues and Cyber Safety Metrics\n(Unaudited, in millions, except per user data and percentages)\nRevenues (Non-GAAP)\nYear Ended\nMarch 31,\n2023 April 1, 2022\nVariance in\n%\n$ 3,338 $ 2,796 19 %\nContract liabilities fair value adjustment (1) 2 11\nRevenues Revenues (Non-GAAP) 3,340 2,807 19 %\nExclude foreign exchange impact (2) 113 —\nConstant currency adjusted revenues (Non-GAAP) $ 3,453 $ 2,807 23 %\nCyber Safety Metrics\nYear Ended (3)\nMarch 31, 2023\n(4) April 1, 2022\nDirect customer revenues $ 2,933 $ 2,488\nPartner revenues $ 341 $ 269\nTotal Cyber Safety revenues $ 3,274 $ 2,757\nLegacy revenues $ 66 $ 50\nDirect customer count (at quarter end) 38.2 24.4\nDirect average revenue per user (ARPU) $ 7.10 $ 8.63\nAnnual retention rate (5) 76 % 84 %\n(1) Contract liabilities fair value adjustment represents the quarterly Avira deferred revenue haircut amortization recognized during\n(2) (3) (4) (5) the quarter.\nCalculated using year ago foreign exchange rates.\nFrom time to time, changes in our product hierarchy cause changes to the revenue channels above. When changes occur, we\nrecast historical amounts to match the current revenue channels. Direct revenues currently includes Mobile App Store\ncustomers, and legacy revenues includes revenues from products or solutions that are no longer in operations in exited\nmarkets, have been discontinued or identified to be discontinued, or remain in maintenance mode as a result of integration and\nproduct portfolio decisions. As such, the changes to historical revenue amounts and the other performance metrics, including\ndirect customer count and ARPU, are reflected for all periods presented above.\nThe performance metrics for the year ended March 31, 2023 include the revenues earned and customers acquired through our\nMerger with Avast. ARPU is based on average customer count and assumes full quarter of revenue for both companies. Due\nto the timing of the close of the Merger in the second quarter of fiscal 2023, the fiscal 2023 ARPU is based on the average\nARPU for second, third, and fourth quarter of fiscal 2023, but excludes the first quarter of fiscal 2023.\nThe annual retention rate for fiscal 2023 includes the customer portfolio acquired",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000291_segments",
      "report_id": "ID_000291",
      "company_name": "NortonLifeLock",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 207:\n\nenior Notes due April 1, 2022 New 2.0% Convertible Senior Notes due August 15, 2022 N/A $ 16.77\n$ 20.41 $ 20.41\nNote 17. Segment and Geographic Information\nWe operate as one reportable segment. Our Chief Operating Decision Maker reviews financial\ninformation presented on a consolidated basis to evaluate company performance and to allocate\nresources.\nThe following table summarizes net revenues for our major solutions:\nYear Ended\nMarch 31, 2023 April 1, 2022 April 2, 2021\n(In millions) Consumer security revenues $ 2,029 $ 1,623 $ 1,504\nIdentity and information protection revenues 1,244 1,127 1,038\nTotal Cyber Safety revenues 3,273 2,750 2,542\nLegacy revenues 65 46 9\nTotal net revenues(1) $ 3,338 $ 2,796 $ 2,551\n(1) During the year ended March 31, 2023, total net revenues include an unfavorable foreign exchange impact of $113 million,\nconsisting of $108 million from our consumer security solutions, $3 million from our identity and information protection\nsolutions and $2 million from our legacy solutions.\nFrom time to time, changes in our product hierarchy cause changes to the product categories\nabove. When changes occur, we recast historical amounts to match the current product hierarchy. The\nchanges have been reflected for all periods presented above. Consumer security includes revenues from\nour Norton 360 Security offerings, Norton Security, Avast Security offerings, Norton Secure VPN,\nAvira Security and other consumer security and device performance solutions through our direct, partner\nand small business channels. Identity and information protection includes revenues from our Norton\n360 with LifeLock offerings, LifeLock identity theft protection and other information protection and privacy\nsolutions. Legacy includes revenues from products or solutions from markets that we have exited and\nin which we no longer operate, have been discontinued or identified to be discontinued, or remain in\nmaintenance mode as a result of integration and product portfolio decisions.\nGeographic information\nNet revenues by geography are based on the billing addresses of our customers. The following\ntable represents net revenues by geographic area for the periods presented:\nYear Ended\nMarch 31, 2023 April 1, 2022 April 2, 2021\n(In millions) Americas $ 2,282 $ 1,963 $ 1,827\nEMEA 704 506 419\nAPJ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000292_key_financials",
      "report_id": "ID_000292",
      "company_name": "NiSource",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "1.27 diluted EPS, 24.75% total shareholder return",
      "golden_context": "Page 28:\n\n% through 2023. NiSource reminds investors that it does not provide a GAAP equivalent of\nits earnings guidance due to the impact of unpredictable factors such as fluctuations in weather and\nother unusual and infrequent items included in GAAP results.\nNiSource expects to make capital investments totaling approximately $10 billion through 2024,\nconsisting of annual investments of $1.9 to $2.2 billion for growth, safety and reliability, and an\nadditional $2 billion in renewable generation to replace the retiring coal-fired generation capacity of\nSchahfer Generating Station. These investments are expected to drive compound annual rate base\ngrowth of 10 to 12% for each of the company’s businesses through 2024.\nFINANCIAL METRICS\n$1.27\n2021 DILUTED\nGAAP EARNINGS\nPER SHARE\n$1.37\n2021 DILUTED\nNON-GAAP NET\nOPERATING\nEARNINGS PER\nSHARE*\n$0.88\n2021 PER\nSHARE ANNUAL\nDIVIDEND\n(COMMON STOCK)\n24.75%\n2021 TOTAL\nSHAREHOLDER\nRETURN\n$0.94\n2022 PER SHARE\nANNUAL DIVIDEND\nPROJECTED\n(COMMON STOCK)**\n$2.4B\nTO\n$2.7B\n2022 CAPEX\nPROJECTED",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_cash_flow",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1935.1m, financing: 3842.2m, investing: -3571.6m",
      "golden_context": "Page 75:\n\nM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (continued)\nNISOURCE INC.\nSTATEMENTS OF CONSOLIDATED CASH FLOWS\nYear Ended December 31, (in millions) 2023 2022 2021\nOperating Activities\nNet Income $ 674.4 $ 791.8 $ 588.8\nAdjustments to Reconcile Net Income to Net Cash from Operating Activities:\nDepreciation and amortization 908.2 820.8 748.4\nDeferred income taxes and investment tax credits 134.1 156.9 111.9\nStock compensation expense and 401(k) profit sharing contribution 33.5 24.9 24.3\nLoss (gain) on sale of assets 2.9 (105.3) 5.6\nOther adjustments (17.9) 5.7 (0.7)\nChanges in Assets and Liabilities:\nAccounts receivable 184.1 (216.3) (40.3)\nGas storage and other inventories 233.9 (258.9) (112.9)\nAccounts payable (171.8) 165.0 54.9\nExchange gas receivable/payable 126.5 57.8 (114.2)\nOther accruals (102.9) 73.4 43.0\nPrepayments and other current assets 36.7 (9.8) (36.6)\nRegulatory assets/liabilities (26.2) (129.4) 76.8\nPostretirement and postemployment benefits (22.0) 84.7 (96.4)\nDeferred charges and other noncurrent assets (10.1) (4.1) (4.7)\nOther noncurrent liabilities and deferred credits (48.3) (47.8) (30.0)\nNet Cash Flows from Operating Activities 1,935.1 1,409.4 1,217.9\nInvesting Activities\nCapital expenditures (2,645.8) (2,203.1) (1,838.0)\nInsurance Recoveries 3.0 105.0 —\nCost of removal (160.8) (151.7) (121.1)\nPurchases of available-for-sale securities (42.8) (73.5) (102.9)\nSales of available-for-sale securities 39.9 75.7 97.8\nMilestone and final payments to renewable generation asset developer (761.4) (323.9) (240.4)\nOther investing activities (3.7) 1.3 (1.0)\nNet Cash Flows used for Investing Activities (3,571.6) (2,570.2) (2,204.9)\nFinancing Activities\nProceeds from issuance of long-term debt 1,488.7 345.6 —\nRepayments of long-term debt and finance lease obligations (33.1) (60.3) (25.7)\nIssuance of short term credit agreements 650.0 1,000.0 —\nNet change in commercial paper and other short-term borrowings 636.4 202.2 57.0\nIssuance of common stock, net of issuance costs 12.9 154.3 299.6\nPayment of obligation to renewable generation asset developer (347.2) — —\nEquity costs, premiums and other debt related costs (30.2) (13.0) (18.2)\nContributions from noncontrolling interests 2,402.8 21.2 245.1\nDistributions to noncontrolling interest (14.1) (6.0) (0.6)\nIssuance of equity units, net of underwriting costs — — 839.9\nRedemption of preferred stock (393.9) — —\nDividends paid - common stock (413.5) (381.5) (345.2)\nPreferred stock redemption premium (6.2) — —\nDividends paid - preferred stock (43.8) (55.1) (55.1)\nContract liability payment (66.6) (66.1) (40.5)\nNet Cash Flows from Financing Activities 3,842.2 1,141.3 956.3\nChange in cash, cash equivalents and restricted cash 2,205.7 (19.5) (30.7)\nCash, cash equivalents and restricted cash at beginning of period 75.4 94.9 125.6\nCash, Cash Equivalents and Restricted Cash at End of Period $ 2,281.1 $ 75.4 $ 94.9\nReconciliation to Balance Sheet 2023 2022 2021\nCash and cash equivalents 2,245.4 40.8 84.2\nRestricted Cash 35.7 34.6 10.7\nTotal Cash, Cash Equivalents and Restricted Cash 2,281.1 75.4 94.9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_company_type",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-16189\nNiSource Inc.\n(Exact name of registrant as specified in its charter)\nDE 35-2108964\n(Address of principal executive offices) (State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n801 East 86th Avenue\nMerrillville, IN 46410\n(877) 647-5990\n(Registrant’s telephone number, including area code)\n(Zip Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class\nTrading\nSymbol(s)\nName of Each Exchange on\nWhich Registered\nCommon Stock, par value $0.01 per share NI NYSE\nDepositary Shares, each representing a 1/1,000th ownership interest in a share of 6.50% Series B\nFixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share,\nNI PR B NYSE\nliquidation preference $25,000 per share and a 1/1,000th ownership interest in a share of Series\nB-1 Preferred Stock, par value $0.01 per share, liquidation preference $0.01 per share\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject\nto such filing requirements for the past 90 days.\nYes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files).\nYes þ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated f",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_key_financials",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Net income 674.4m, basic EPS 1.59, diluted EPS 1.48",
      "golden_context": "Page 49:\n\nrations,\" and \"Market Risk Disclosures.\"\nDue to rising interest rates, we experienced higher interest expense during 2023 compared to 2022 associated with short-term\nborrowings. We continue to evaluate our financing plan to manage interest expense and exposure to rates. For more information\non interest rate risk, see \"Market Risk Disclosures\" and Item 1A. Risk Factors, \"Financial, Economic and Market Risks\" of this\nAnnual Report on Form 10-K.\nSummary of Consolidated Financial Results\nA summary of our consolidated financial results for the years ended December 31, 2023, 2022 and 2021, are presented below:\nFavorable (Unfavorable)\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021 2023 vs. 2022 2022 vs. 2021\nOperating Revenues $ 5,505.4 $ 5,850.6 $ 4,899.6 $ (345.2) $ 951.0\nOperating Expenses\nCost of energy 1,533.3 2,110.5 1,392.3 577.2 (718.2)\nOther Operating Expenses 2,676.6 2,474.3 2,500.4 (202.3) 26.1\nTotal Operating Expenses 4,209.9 4,584.8 3,892.7 374.9 (692.1)\nOperating Income 1,295.5 1,265.8 1,006.9 29.7 258.9\nTotal Other Deductions, Net (481.6) (309.4) (300.3) (172.2) (9.1)\nIncome Taxes 139.5 164.6 117.8 25.1 (46.8)\nNet Income 674.4 791.8 588.8 (117.4) 203.0\nNet (loss) income attributable to noncontrolling interest (39.9) (12.3) 3.9 27.6 16.2\nNet Income attributable to NiSource 714.3 804.1 584.9 (89.8) 219.2\nPreferred dividends and redemption premium (52.6) (55.1) (55.1) 2.5 —\nNet Income Available to Common Shareholders 661.7 749.0 529.8 (87.3) 219.2\nBasic Earnings Per Share $ 1.59 $ 1.84 $ 1.35 $ (0.25) $ 0.49\nDiluted Earnings Per Share $ 1.48 $ 1.70 $ 1.27 $ (0.22) $ 0.43\nThe majority of the costs of energy in both segments are tracked costs that are passed through directly to the customer, resulting\nin an equal and offsetting amount reflected in operating revenues.\nThe decrease in net income available to common shareholders during 2023 was primarily due to lower revenue resulting from\nthe effects of weather, the receipt of the insurance settlement related to the Greater Lawrence Incident in 2022, higher other\ndeductions due to higher interest expense in 2023, partially offset by lower tax expense and favorable impact from net loss\nattributable to noncontrolling interest. The decrease in preferred dividends during 2023 was due primarily to the redemption of\nSeries A Preferred S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_revenue",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "5505.4m operating revenues",
      "golden_context": "Page 49:\n\nummary of Consolidated Financial Results\nA summary of our consolidated financial results for the years ended December 31, 2023, 2022 and 2021, are presented below:\nFavorable (Unfavorable)\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021 2023 vs. 2022 2022 vs. 2021\nOperating Revenues $ 5,505.4 $ 5,850.6 $ 4,899.6 $ (345.2) $ 951.0\nOperating Expenses\nCost of energy 1,533.3 2,110.5 1,392.3 577.2 (718.2)\nOther Operating Expenses 2,676.6 2,474.3 2,500.4 (202.3) 26.1\nTotal Operating Expenses 4,209.9 4,584.8 3,892.7 374.9 (692.1)\nOperating Income 1,295.5 1,265.8 1,006.9 29.7 258.9\nTotal Other Deductions, Net (481.6) (309.4) (300.3) (172.2) (9.1)\nIncome Taxes 139.5 164.6 117.8 25.1 (46.8)\nNet Income 674.4 791.8 588.8 (117.4) 203.0\nNet (loss) income attributable to noncontrolling interest (39.9) (12.3) 3.9 27.6 16.2\nNet Income attributable to NiSource 714.3 804.1 584.9 (89.8) 219.2\nPreferred dividends and redemption premium (52.6) (55.1) (55.1) 2.5 —\nNet Income Available to Common Shareholders 661.7 749.0 529.8 (87.3) 219.2\nBasic Earnings Per Share $ 1.59 $ 1.84 $ 1.35 $ (0.25) $ 0.49\nDiluted Earnings Per Share $ 1.48 $ 1.70 $ 1.27 $ (0.22) $ 0.43\nThe majority of the costs of energy in both segments are tracked costs that are passed through directly to the customer, resulting\nin an equal and offsetting amount reflected in operating revenues.\nThe decrease in net income available to common shareholders during 2023 was primarily due to lower revenue resulting from\nthe effects of weather, the receipt of the insurance settlement related to the Greater Lawrence Incident in 2022, higher other\ndeductions due to higher interest expense in 2023, partially offset by lower tax expense and favorable impact from net loss\nattributable to noncontrolling interest. The decrease in preferred dividends during 2023 was due primarily to the redemption of\nSeries A Preferred Stock in the second quarter 2023. See Note 6, \"Equity,\" for additional information.\nFor additional information on operating income variance drivers see \"Resu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_revenue_growth",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "5505.4m operating revenues, 5850.6m prior year",
      "golden_context": "Page 49:\n\nummary of Consolidated Financial Results\nA summary of our consolidated financial results for the years ended December 31, 2023, 2022 and 2021, are presented below:\nFavorable (Unfavorable)\nYear Ended December 31,\n(in millions, except per share amounts) 2023 2022 2021 2023 vs. 2022 2022 vs. 2021\nOperating Revenues $ 5,505.4 $ 5,850.6 $ 4,899.6 $ (345.2) $ 951.0\nOperating Expenses\nCost of energy 1,533.3 2,110.5 1,392.3 577.2 (718.2)\nOther Operating Expenses 2,676.6 2,474.3 2,500.4 (202.3) 26.1\nTotal Operating Expenses 4,209.9 4,584.8 3,892.7 374.9 (692.1)\nOperating Income 1,295.5 1,265.8 1,006.9 29.7 258.9\nTotal Other Deductions, Net (481.6) (309.4) (300.3) (172.2) (9.1)\nIncome Taxes 139.5 164.6 117.8 25.1 (46.8)\nNet Income 674.4 791.8 588.8 (117.4) 203.0\nNet (loss) income attributable to noncontrolling interest (39.9) (12.3) 3.9 27.6 16.2\nNet Income attributable to NiSource 714.3 804.1 584.9 (89.8) 219.2\nPreferred dividends and redemption premium (52.6) (55.1) (55.1) 2.5 —\nNet Income Available to Common Shareholders 661.7 749.0 529.8 (87.3) 219.2\nBasic Earnings Per Share $ 1.59 $ 1.84 $ 1.35 $ (0.25) $ 0.49\nDiluted Earnings Per Share $ 1.48 $ 1.70 $ 1.27 $ (0.22) $ 0.43\nThe majority of the costs of energy in both segments are tracked costs that are passed through directly to the customer, resulting\nin an equal and offsetting amount reflected in operating revenues.\nThe decrease in net income available to common shareholders during 2023 was primarily due to lower revenue resulting from\nthe effects of weather, the receipt of the insurance settlement related to the Greater Lawrence Incident in 2022, higher other\ndeductions due to higher interest expense in 2023, partially offset by lower tax expense and favorable impact from net loss\nattributable to noncontrolling interest. The decrease in preferred dividends during 2023 was due primarily to the redemption of\nSeries A Preferred Stock in the second quarter 2023. See Note 6, \"Equity,\" for additional information.\nFor additional information on operating income variance drivers see \"Resu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000294_segments",
      "report_id": "ID_000294",
      "company_name": "NiSource",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Gas Distribution Operations and Electric Operations",
      "golden_context": "Page 126:\n\nefore reclassifications 3.1 (0.5) (1.4) 1.2\nAmounts reclassified from accumulated other comprehensive loss 0.8 0.3 1.2 2.3\nNet current-period other comprehensive income (loss) 3.9 (0.2) (0.2) 3.5\nBalance as of December 31, 2023 $ (7.3) $ (12.8) $ (13.5) $ (33.6)\n(1)All amounts are net of tax. Amounts in parentheses indicate debits.\n21. Business Segment Information\nAt December 31, 2023, our operations are divided into two primary reportable segments, the Gas Distribution Operations and\nthe Electric Operations segments. The remainder of our operations, which are not significant enough on a stand-alone basis to\nwarrant treatment as an operating segment, are presented as \"Corporate and Other\" and primarily are comprised of interest\nexpense on holding company debt and unallocated corporate costs and activities. Refer to Note 3, \"Revenue Recognition,\" for\nadditional information on our segments and their sources of revenues. The following table provides information about our\nreportable segments. We use operating income as our primary measurement for each of the reported segments and make\ndecisions on finance, dividends and taxes at the corporate level on a consolidated basis. Segment revenues include intersegment\nsales to affiliated subsidiaries, which are eliminated in consolidation. Affiliated sales are recognized on the basis of prevailing\nmarket, regulated prices or at levels provided for under contractual agreements. Operating income is derived from revenues and\nexpenses directly associated with each segment.\n115\nNISOURCE INC.\nNotes to Consolidated Financial Statements\nITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (continued)\nYear Ended December 31, (in millions) 2023 2022 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_cash_flow",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 1172.5m",
      "golden_context": "Page 43:\n\n greater than historically required.\nFurther discussion of the impact of the COVID-19 pandemic on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K\nunder the heading “Risk Factors.\n”\nKey financial and operating metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2021, we achieved the following, taking into consideration that percentage changes from prior year financial results include the impact of\nCOVID-19 and do not necessarily reflect our future growth rates:\n◦ Revenues of $3,952.6 million, an increase of 59.9% year-over-year;\n◦ Clear Aligner revenues of $3,247.1 million, an increase of 54.5% year-over-year reflecting the expanding opportunity for Invisalign\nsystem treatment among adults globally, as well as the underlying orthodontic market as we continue to build awareness of the Invisalign\nbrand and drive utilization among teens and younger patients through increased consumer marketing.\n▪ Americas Clear Aligner revenues of $1,544.8 million, an increase of 52.9% year-over-year;\n▪ International Clear Aligner revenues of $1,498.7 million, an increase of 55.2% year-over-year;\n▪ Clear Aligner volume increase of 54.8% year-over-year and Clear Aligner volume increase for teenage patients of 47.3% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $705.5 million, an increase of 90.4% year-over-year reflecting strong growth\nacross all regions with continued adoption of the iTero Element 5D and 5D Plus Series of next generation scanners and imaging systems\nlaunched in February 2021, as well as increased average selling prices (“ASP”) predominately due to favorable product mix shift towards\nhigher priced scanners;\n◦ Income from operations of $976.4 million and operating margin of 24.7%;\n◦ Effective tax rate of 23.7%;\n◦ Net income of $772.0 million with diluted net income per share of $9.69;\n◦ Cash, cash equivalents and marketable securities of $1,296.7 million as of December 31, 2021;\n◦ Operating cash flow of $1,172.5 million;\n◦ Capital expenditures of $401.1 million, predominantly related to increases in our manufacturing capacity and facilities; and\n◦ Number of employees was 22,540 as of December 31, 2021, an increase of 24.7% year-over-year.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_company_type",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n________________________________________________________________________\nFORM 10-K\n________________________________________________________________________\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 000-32259\n________________________________________________________________________\nALIGN TECHNOLOGY, INC.\n(Exact name of registrant as specified in its charter)\n________________________________________________________________________\nDelaware 94-3267295\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n410 North Scottsdale Road, Suite 1300\nTempe, Arizona 85281\n(Address of principal executive offices)\n(602) 742-2000\n(Registrant’s telephone number, including area code)\n________________________________________________________________________\nTitle of each class Common Stock, $0.0001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol ALGN Name of each exchange on which registered\nThe NASDAQ Stock Market LLC\n(NASDAQ Global Market)\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See\ndefinitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act. (Check one):\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately $34.7 billion as of June 30, 2021 based on the closing sale price of\nthe registrant’s common stock on the NASDAQ Global Market on such date. Shares held by persons who ma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_key_financials",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenues of 3952.6m, income from operations 976.4m, net income 772m, diluted net income per share 9.69",
      "golden_context": "Page 43:\n\n greater than historically required.\nFurther discussion of the impact of the COVID-19 pandemic on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K\nunder the heading “Risk Factors.\n”\nKey financial and operating metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2021, we achieved the following, taking into consideration that percentage changes from prior year financial results include the impact of\nCOVID-19 and do not necessarily reflect our future growth rates:\n◦ Revenues of $3,952.6 million, an increase of 59.9% year-over-year;\n◦ Clear Aligner revenues of $3,247.1 million, an increase of 54.5% year-over-year reflecting the expanding opportunity for Invisalign\nsystem treatment among adults globally, as well as the underlying orthodontic market as we continue to build awareness of the Invisalign\nbrand and drive utilization among teens and younger patients through increased consumer marketing.\n▪ Americas Clear Aligner revenues of $1,544.8 million, an increase of 52.9% year-over-year;\n▪ International Clear Aligner revenues of $1,498.7 million, an increase of 55.2% year-over-year;\n▪ Clear Aligner volume increase of 54.8% year-over-year and Clear Aligner volume increase for teenage patients of 47.3% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $705.5 million, an increase of 90.4% year-over-year reflecting strong growth\nacross all regions with continued adoption of the iTero Element 5D and 5D Plus Series of next generation scanners and imaging systems\nlaunched in February 2021, as well as increased average selling prices (“ASP”) predominately due to favorable product mix shift towards\nhigher priced scanners;\n◦ Income from operations of $976.4 million and operating margin of 24.7%;\n◦ Effective tax rate of 23.7%;\n◦ Net income of $772.0 million with diluted net income per share of $9.69;\n◦ Cash, cash equivalents and marketable securities of $1,296.7 million as of December 31, 2021;\n◦ Operating cash flow of $1,172.5 million;\n◦ Capital expenditures of $401.1 million, predominantly related to increases in our manufacturing capacity and facilities; and\n◦ Number of employees was 22,540 as of December 31, 2021, an increase of 24.7% year-over-year.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_revenue",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Revenues of 3952.6m",
      "golden_context": "Page 43:\n\n greater than historically required.\nFurther discussion of the impact of the COVID-19 pandemic on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K\nunder the heading “Risk Factors.\n”\nKey financial and operating metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2021, we achieved the following, taking into consideration that percentage changes from prior year financial results include the impact of\nCOVID-19 and do not necessarily reflect our future growth rates:\n◦ Revenues of $3,952.6 million, an increase of 59.9% year-over-year;\n◦ Clear Aligner revenues of $3,247.1 million, an increase of 54.5% year-over-year reflecting the expanding opportunity for Invisalign\nsystem treatment among adults globally, as well as the underlying orthodontic market as we continue to build awareness of the Invisalign\nbrand and drive utilization among teens and younger patients through increased consumer marketing.\n▪ Americas Clear Aligner revenues of $1,544.8 million, an increase of 52.9% year-over-year;\n▪ International Clear Aligner revenues of $1,498.7 million, an increase of 55.2% year-over-year;\n▪ Clear Aligner volume increase of 54.8% year-over-year and Clear Aligner volume increase for teenage patients of 47.3% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $705.5 million, an increase of 90.4% year-over-year reflecting strong growth\nacross all regions with continued adoption of the iTero Element 5D and 5D Plus Series of next generation scanners and imaging systems\nlaunched in February 2021, as well as increased average selling prices (“ASP”) predominately due to favorable product mix shift towards\nhigher priced scanners;\n◦ Income from operations of $976.4 million and operating margin of 24.7%;\n◦ Effective tax rate of 23.7%;\n◦ Net income of $772.0 million with diluted net income per share of $9.69;\n◦ Cash, cash equivalents and marketable securities of $1,296.7 million as of December 31, 2021;\n◦ Operating cash flow of $1,172.5 million;\n◦ Capital expenditures of $401.1 million, predominantly related to increases in our manufacturing capacity and facilities; and\n◦ Number of employees was 22,540 as of December 31, 2021, an increase of 24.7% year-over-year.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_revenue_growth",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Increase of 59.9%",
      "golden_context": "Page 43:\n\n greater than historically required.\nFurther discussion of the impact of the COVID-19 pandemic on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K\nunder the heading “Risk Factors.\n”\nKey financial and operating metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2021, we achieved the following, taking into consideration that percentage changes from prior year financial results include the impact of\nCOVID-19 and do not necessarily reflect our future growth rates:\n◦ Revenues of $3,952.6 million, an increase of 59.9% year-over-year;\n◦ Clear Aligner revenues of $3,247.1 million, an increase of 54.5% year-over-year reflecting the expanding opportunity for Invisalign\nsystem treatment among adults globally, as well as the underlying orthodontic market as we continue to build awareness of the Invisalign\nbrand and drive utilization among teens and younger patients through increased consumer marketing.\n▪ Americas Clear Aligner revenues of $1,544.8 million, an increase of 52.9% year-over-year;\n▪ International Clear Aligner revenues of $1,498.7 million, an increase of 55.2% year-over-year;\n▪ Clear Aligner volume increase of 54.8% year-over-year and Clear Aligner volume increase for teenage patients of 47.3% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $705.5 million, an increase of 90.4% year-over-year reflecting strong growth\nacross all regions with continued adoption of the iTero Element 5D and 5D Plus Series of next generation scanners and imaging systems\nlaunched in February 2021, as well as increased average selling prices (“ASP”) predominately due to favorable product mix shift towards\nhigher priced scanners;\n◦ Income from operations of $976.4 million and operating margin of 24.7%;\n◦ Effective tax rate of 23.7%;\n◦ Net income of $772.0 million with diluted net income per share of $9.69;\n◦ Cash, cash equivalents and marketable securities of $1,296.7 million as of December 31, 2021;\n◦ Operating cash flow of $1,172.5 million;\n◦ Capital expenditures of $401.1 million, predominantly related to increases in our manufacturing capacity and facilities; and\n◦ Number of employees was 22,540 as of December 31, 2021, an increase of 24.7% year-over-year.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000295_segments",
      "report_id": "ID_000295",
      "company_name": "Align Technology",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "1) Clear Aligner and 2) Imaging Systems and CAD/CAM Services (Systems and Services)",
      "golden_context": "Page 4:\n\nnning technology for digital dental scans, and our exocad CAD/CAM software as the solution of choice for dental labs.\nAlign’s corporate headquarters are located at 410 North Scottsdale Road, Suite 1300, Tempe, Arizona 85281. Our telephone number is 602-742-2000.\nOur internet address is www.aligntech.com. Our Americas regional headquarters is located in Raleigh, North Carolina, U.S.A.; our European, Middle East\nand Africa (“EMEA”) regional headquarters is located in Rotkreuz, Switzerland; and our Asia Pacific (“APAC”) regional headquarters is located in\nSingapore.\nWe have two operating segments: (1) Clear Aligner and (2) Imaging Systems and CAD/CAM Services (“Systems and Services”). For the year ended\nDecember 31, 2021, Clear Aligner net revenues represented approximately 82% of worldwide net revenues, while Systems and Services net revenues\nrepresented the remaining 18%. We sell the majority of our products directly through a dedicated and specialized sales force to our customers:\northodontists, general practitioner dentists (“GPs”), restorative and aesthetic dentists, including prosthodontists, periodontists, and oral surgeons, and dental\nlaboratories. We also sell through sales agents and distributors in certain countries. In addition, we sell directly to Dental Support Organizations (“DSOs”)\nwho contract with dental practices to provide critical business management and support including non-clinical operations, and we sell products used by\ndental laboratories who manufacture or customize a variety of products used by licensed dentists to provide oral health care. We sell our Consumer\nProducts online through our corporate website and large e-commerce websites.\nOur clear aligners are sold under the Invisalign ®\nbrand name. Our Invisalign system is intended mainly for the treatment of malocclusions and is\ndesigned to help dental professionals achieve the clinical outcomes that they expect and the results patients desire. To date, over 12 million people\nworldwide have been treated with our Invisalign system. We received 510(k) clearance from the United States (“U.S.\n”) Food and Drug Administration\n(“FDA”) to market the Invisalign system in 1998. In order to provide Invisalign treatment to their patients, orthodontists and GPs must initially complete an\nInvisalign training course.\nOur iTero intraoral scanner is used by dental professionals and/or labs and service providers for restorative and orthodontic digital procedures as well\nas Invisalign case submissions. To date, over 68,000 iTero scanners have been sold. We received 510(k) clearance in the U.S. for the caries detection\nfeature of the iTero Element 5D in 2020. Our Systems and Services products, which includes our iTero intraoral scanners, are primarily sold through our\ndirect sales force and through sales agents and distributors in certain countries and directly to DSOs.\nOur exocad CAD/CAM software products provide restorative dentistry, implantology, guided surgery, and smile design to dental labs and dental\npractices through fully integrated workflows, paving the way for new, cross-disciplinary dentistry in labs and at chairside. There are over 200 exocad\nstrategic distribution partners and o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_cash_flow",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 568.7m",
      "golden_context": "Page 42:\n\ning “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2022, our business operations reflect the following:\n◦ Revenues of $3,734.6 million, a decrease of 5.5% year-over-year;\n◦ Clear Aligner revenues of $3,072.6 million, a decrease of 5.4% year-over-year;\n▪ Americas Clear Aligner revenues of $1,458.8 million, a decrease of 5.6% year-over-year;\n▪ International Clear Aligner revenues of $1,349.0 million, a decrease of 10.0% year-over-year;\n▪ Clear Aligner volume decrease of 7.4% year-over-year and Clear Aligner volume decrease for teenage patients of 0.2% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.1 million, a decrease of 6.2% year-over-year;\n◦ Income from operations of $642.6 million and operating margin of 17.2%;\n◦ Effective tax rate of 39.6%;\n◦ Net income of $361.6 million with diluted net income per share of $4.61;\n◦ Cash, cash equivalents and marketable securities of $1,041.6 million as of December 31, 2022;\n◦ Operating cash flow of $568.7 million;\n◦ Capital expenditures of $291.9 million, predominantly related to increases in our manufacturing capacity and facilities; and\n42\n◦ Number of employees was 23,165 as of December 31, 2022, an increase of 2.8% year-over-year.\nOther Statistical Data and Trends\n• As of December 31, 2022, over 14 million people worldwide have been treated with our Invisalign system. Management measures these results by\ncomparing to the millions of people who can benefit from straighter teeth and uses this data to target opportunities to expand the market for\northodontics by educating consumers about the benefits of straighter teeth using the Invisalign system.\n• For the fourth quarter of 2022, total Invisalign ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_company_type",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 000-32259\n________________________________________________________________________\nALIGN TECHNOLOGY, INC.\n(Exact name of registrant as specified in its charter)\n________________________________________________________________________\nDelaware 94-3267295\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n410 North Scottsdale Road, Suite 1300\nTempe, Arizona 85288\n(Address of principal executive offices, including zip code)\n(602) 742-2000\n(Registrant’s telephone number, including area code)\n________________________________________________________________________\nTitle of each class Common Stock, $0.0001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) ALGN Name of each exchange on which registered\nThe NASDAQ Stock Market LLC\n(NASDAQ Global Select Market)\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the\nExchange Act. (Check one):\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect\nthe correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of\nthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately $13.3 billion as of June 30, 2022 based on the\nclosing sale price of the registrant’s common stock on the NASDAQ Global Market on such date. Shares held by persons who may be deemed affiliates have been\nexcluded. This determination of affiliate status is not necessarily a conclusive determination for other purposes.\nOn February 20, 2023, 76,610,319 shares of the registrant’s common stock were outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the registrant’s definitive Proxy Statement relating to its 2023 Annual Stockholders’ Meeting to be filed pursuant to Reg",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_key_financials",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenues 3734.6m, net income 361.6m, diluted net income per share 4.61",
      "golden_context": "Page 42:\n\ning “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2022, our business operations reflect the following:\n◦ Revenues of $3,734.6 million, a decrease of 5.5% year-over-year;\n◦ Clear Aligner revenues of $3,072.6 million, a decrease of 5.4% year-over-year;\n▪ Americas Clear Aligner revenues of $1,458.8 million, a decrease of 5.6% year-over-year;\n▪ International Clear Aligner revenues of $1,349.0 million, a decrease of 10.0% year-over-year;\n▪ Clear Aligner volume decrease of 7.4% year-over-year and Clear Aligner volume decrease for teenage patients of 0.2% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.1 million, a decrease of 6.2% year-over-year;\n◦ Income from operations of $642.6 million and operating margin of 17.2%;\n◦ Effective tax rate of 39.6%;\n◦ Net income of $361.6 million with diluted net income per share of $4.61;\n◦ Cash, cash equivalents and marketable securities of $1,041.6 million as of December 31, 2022;\n◦ Operating cash flow of $568.7 million;\n◦ Capital expenditures of $291.9 million, predominantly related to increases in our manufacturing capacity and facilities; and\n42\n◦ Number of employees was 23,165 as of December 31, 2022, an increase of 2.8% year-over-year.\nOther Statistical Data and Trends\n• As of December 31, 2022, over 14 million people worldwide have been treated with our Invisalign system. Management measures these results by\ncomparing to the millions of people who can benefit from straighter teeth and uses this data to target opportunities to expand the market for\northodontics by educating consumers about the benefits of straighter teeth using the Invisalign system.\n• For the fourth quarter of 2022, total Invisalign ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_revenue",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Revenues 3734.6m",
      "golden_context": "Page 42:\n\ning “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2022, our business operations reflect the following:\n◦ Revenues of $3,734.6 million, a decrease of 5.5% year-over-year;\n◦ Clear Aligner revenues of $3,072.6 million, a decrease of 5.4% year-over-year;\n▪ Americas Clear Aligner revenues of $1,458.8 million, a decrease of 5.6% year-over-year;\n▪ International Clear Aligner revenues of $1,349.0 million, a decrease of 10.0% year-over-year;\n▪ Clear Aligner volume decrease of 7.4% year-over-year and Clear Aligner volume decrease for teenage patients of 0.2% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.1 million, a decrease of 6.2% year-over-year;\n◦ Income from operations of $642.6 million and operating margin of 17.2%;\n◦ Effective tax rate of 39.6%;\n◦ Net income of $361.6 million with diluted net income per share of $4.61;\n◦ Cash, cash equivalents and marketable securities of $1,041.6 million as of December 31, 2022;\n◦ Operating cash flow of $568.7 million;\n◦ Capital expenditures of $291.9 million, predominantly related to increases in our manufacturing capacity and facilities; and\n42\n◦ Number of employees was 23,165 as of December 31, 2022, an increase of 2.8% year-over-year.\nOther Statistical Data and Trends\n• As of December 31, 2022, over 14 million people worldwide have been treated with our Invisalign system. Management measures these results by\ncomparing to the millions of people who can benefit from straighter teeth and uses this data to target opportunities to expand the market for\northodontics by educating consumers about the benefits of straighter teeth using the Invisalign system.\n• For the fourth quarter of 2022, total Invisalign ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_revenue_growth",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "decrease of 5.5%",
      "golden_context": "Page 42:\n\ning “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2022, our business operations reflect the following:\n◦ Revenues of $3,734.6 million, a decrease of 5.5% year-over-year;\n◦ Clear Aligner revenues of $3,072.6 million, a decrease of 5.4% year-over-year;\n▪ Americas Clear Aligner revenues of $1,458.8 million, a decrease of 5.6% year-over-year;\n▪ International Clear Aligner revenues of $1,349.0 million, a decrease of 10.0% year-over-year;\n▪ Clear Aligner volume decrease of 7.4% year-over-year and Clear Aligner volume decrease for teenage patients of 0.2% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.1 million, a decrease of 6.2% year-over-year;\n◦ Income from operations of $642.6 million and operating margin of 17.2%;\n◦ Effective tax rate of 39.6%;\n◦ Net income of $361.6 million with diluted net income per share of $4.61;\n◦ Cash, cash equivalents and marketable securities of $1,041.6 million as of December 31, 2022;\n◦ Operating cash flow of $568.7 million;\n◦ Capital expenditures of $291.9 million, predominantly related to increases in our manufacturing capacity and facilities; and\n42\n◦ Number of employees was 23,165 as of December 31, 2022, an increase of 2.8% year-over-year.\nOther Statistical Data and Trends\n• As of December 31, 2022, over 14 million people worldwide have been treated with our Invisalign system. Management measures these results by\ncomparing to the millions of people who can benefit from straighter teeth and uses this data to target opportunities to expand the market for\northodontics by educating consumers about the benefits of straighter teeth using the Invisalign system.\n• For the fourth quarter of 2022, total Invisalign ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000296_segments",
      "report_id": "ID_000296",
      "company_name": "Align Technology",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Clear Aligner segment and Systems and Services segment.",
      "golden_context": "Page 44:\n\net Revenues by Reportable Segment\nWe group our operations into two reportable segments: Clear Aligner segment and Systems and Services segment.\n• Our Clear Aligner segment consists of Comprehensive Products, Non-Comprehensive Products and Non-Case revenues as defined below:\n• Comprehensive Products include, but are not limited to, Invisalign Comprehensive and Invisalign First.\n• Non-Comprehensive Products include, but are not limited to, Invisalign Moderate, Lite and Express packages and Invisalign Go and\nInvisalign Go Plus.\n• Non-Case products include, but are not limited to, retention products, Invisalign training, adjusting tools used by dental professionals\nduring the course of treatment and Invisalign Accessory Products that are complementary to our doctor-prescribed principal products\nsuch as aligner cases (clamshells), teeth whitening products, cleaning solutions (crystals, foam and other material) and other oral health\nproducts available in certain e-commerce channels in select markets. We also offer in the U.S. and Canada, a Doctor Subscription\nProgram which is a monthly subscription program based on the doctor’s monthly need for retention or limited treatment. The program\nallows doctors the flexibility to order both “touch-up” or retention aligners within their subscribed tier and is designed for a segment of\nexperienced Invisalign trained doctors who are currently not regularly using our retainers or low-stage aligners.\n• Our Systems and Services segment consists of our iTero intraoral scanning systems, which includes a single hardware platform and restorative or\northodontic software options. Our services include subscription software, disposables, rentals, leases, pay per scan services, as well as exocad’s\nCAD/CAM software solutions that integrate workflows to dental labs and dental practices.\nNet revenues for our Clear Aligner and Systems and Services segments by region for the year ended December 31, 2022, 2021 and 2020 are as\nfollows (in millions):\nYear Ended December 31, Year Ended December 31,\nNet Revenues 2022 2021 Change 2021 2020 Change\nClear Aligner revenues:\nAmericas $ 1,458.8 $ 1,544.8 $ (85.9) (5.6)% $ 1,544.8 $ 1,010.2 $ 534.5 52.9 %\nInternational 1,349.0 1,498.7 (149.7) (10.0)% 1,498.7 965.4 533.2 55.2 %\nNon-case ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_cash_flow",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 785.8m",
      "golden_context": "Page 40:\n\nmstances and offering products that meet market demand. Specifically, we are managing cost impacts through pricing actions, implementing\ncost saving measures and slowing hiring. We also continue to innovate and introduce new and enhanced products that augment our doctor customer and\npatient experiences.\nFor instance, in the first quarter of 2023, we successfully launched the Invisalign Comprehensive 3in3 product. The 3in3 configuration offers doctors\nInvisalign Comprehensive treatment with a three-year treatment expiration date and three additional clear aligners included prior to the treatment expiration\ndate. We anticipate adoption of the Invisalign Comprehensive 3in3 product will continue to increase in 2024. The 3in3 product allows us to recognize more\nrevenue up front but is offered at a lower price as compared to our traditional Invisalign comprehensive product that has a five-year treatment expiration\ndate with unlimited additional clear aligner prior to the treatment end date.\nFurther discussion of the impact of these challenges on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K under\nthe heading “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2023, our business operations reflect the following:\n◦ Revenues of $3,862.3 million, an increase of 3.4% year-over-year;\n◦ Clear Aligner revenues of $3,199.3 million, an increase of 4.1% year-over-year;\n▪ Americas Clear Aligner case revenues of $1,463.0 million, a decrease of 0.6% year-over-year;\n▪ International Clear Aligner case revenues of $1,449.5 million, an increase of 7.4% year-over-year;\n▪ Clear Aligner volume increase of 0.4% year-over-year and Clear Aligner volume increase for teenage patients of 7.8% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.9 million, an increase of 0.1% year-over-year;\n◦ Income from operations of $643.3 million and operating margin of 16.7%;\n◦ Effective tax rate of 30.6%;\n◦ Net income of $445.1 million with diluted net income per share of $5.81;\n◦ Cash, cash equivalents and marketable securities of $980.8 million as of December 31, 2023;\n◦ Operating cash flow of $785.8 million;\n◦ Capital expenditures of $177.7 million, predominantly related to purchases of property, plant and equipment; and\n◦ Number of employees was 21,610 as of December 31, 2023, a decrease of 6.7% year-over-year.\nOther Statistical Data and Trends",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_company_type",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n________________________________________________________________________\nFORM 10-K\n________________________________________________________________________\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 000-32259\n________________________________________________________________________\nALIGN TECHNOLOGY, INC.\n(Exact name of registrant as specified in its charter)\n________________________________________________________________________\nDelaware 94-3267295\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n410 North Scottsdale Road, Suite 1300\nTempe, Arizona 85288\n(Address of principal executive offices, including zip code)\n(602) 742-2000\n(Registrant’s telephone number, including area code)\n________________________________________________________________________\nTitle of each class Common Stock, $0.0001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) ALGN Name of each exchange on which registered\nThe NASDAQ Stock Market LLC\n(NASDAQ Global Select Market)\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the\nExchange Act. (Check one):\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect\nthe correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of\nthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Ye",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_key_financials",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "income from operations 643.3m, oeprating cash flow 785.8m",
      "golden_context": "Page 40:\n\nmstances and offering products that meet market demand. Specifically, we are managing cost impacts through pricing actions, implementing\ncost saving measures and slowing hiring. We also continue to innovate and introduce new and enhanced products that augment our doctor customer and\npatient experiences.\nFor instance, in the first quarter of 2023, we successfully launched the Invisalign Comprehensive 3in3 product. The 3in3 configuration offers doctors\nInvisalign Comprehensive treatment with a three-year treatment expiration date and three additional clear aligners included prior to the treatment expiration\ndate. We anticipate adoption of the Invisalign Comprehensive 3in3 product will continue to increase in 2024. The 3in3 product allows us to recognize more\nrevenue up front but is offered at a lower price as compared to our traditional Invisalign comprehensive product that has a five-year treatment expiration\ndate with unlimited additional clear aligner prior to the treatment end date.\nFurther discussion of the impact of these challenges on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K under\nthe heading “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2023, our business operations reflect the following:\n◦ Revenues of $3,862.3 million, an increase of 3.4% year-over-year;\n◦ Clear Aligner revenues of $3,199.3 million, an increase of 4.1% year-over-year;\n▪ Americas Clear Aligner case revenues of $1,463.0 million, a decrease of 0.6% year-over-year;\n▪ International Clear Aligner case revenues of $1,449.5 million, an increase of 7.4% year-over-year;\n▪ Clear Aligner volume increase of 0.4% year-over-year and Clear Aligner volume increase for teenage patients of 7.8% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.9 million, an increase of 0.1% year-over-year;\n◦ Income from operations of $643.3 million and operating margin of 16.7%;\n◦ Effective tax rate of 30.6%;\n◦ Net income of $445.1 million with diluted net income per share of $5.81;\n◦ Cash, cash equivalents and marketable securities of $980.8 million as of December 31, 2023;\n◦ Operating cash flow of $785.8 million;\n◦ Capital expenditures of $177.7 million, predominantly related to purchases of property, plant and equipment; and\n◦ Number of employees was 21,610 as of December 31, 2023, a decrease of 6.7% year-over-year.\nOther Statistical Data and Trends",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_revenue",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "revenues 3862.3m",
      "golden_context": "Page 40:\n\nmstances and offering products that meet market demand. Specifically, we are managing cost impacts through pricing actions, implementing\ncost saving measures and slowing hiring. We also continue to innovate and introduce new and enhanced products that augment our doctor customer and\npatient experiences.\nFor instance, in the first quarter of 2023, we successfully launched the Invisalign Comprehensive 3in3 product. The 3in3 configuration offers doctors\nInvisalign Comprehensive treatment with a three-year treatment expiration date and three additional clear aligners included prior to the treatment expiration\ndate. We anticipate adoption of the Invisalign Comprehensive 3in3 product will continue to increase in 2024. The 3in3 product allows us to recognize more\nrevenue up front but is offered at a lower price as compared to our traditional Invisalign comprehensive product that has a five-year treatment expiration\ndate with unlimited additional clear aligner prior to the treatment end date.\nFurther discussion of the impact of these challenges on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K under\nthe heading “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2023, our business operations reflect the following:\n◦ Revenues of $3,862.3 million, an increase of 3.4% year-over-year;\n◦ Clear Aligner revenues of $3,199.3 million, an increase of 4.1% year-over-year;\n▪ Americas Clear Aligner case revenues of $1,463.0 million, a decrease of 0.6% year-over-year;\n▪ International Clear Aligner case revenues of $1,449.5 million, an increase of 7.4% year-over-year;\n▪ Clear Aligner volume increase of 0.4% year-over-year and Clear Aligner volume increase for teenage patients of 7.8% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.9 million, an increase of 0.1% year-over-year;\n◦ Income from operations of $643.3 million and operating margin of 16.7%;\n◦ Effective tax rate of 30.6%;\n◦ Net income of $445.1 million with diluted net income per share of $5.81;\n◦ Cash, cash equivalents and marketable securities of $980.8 million as of December 31, 2023;\n◦ Operating cash flow of $785.8 million;\n◦ Capital expenditures of $177.7 million, predominantly related to purchases of property, plant and equipment; and\n◦ Number of employees was 21,610 as of December 31, 2023, a decrease of 6.7% year-over-year.\nOther Statistical Data and Trends",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_revenue_growth",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "increase of 3.4%",
      "golden_context": "Page 40:\n\nmstances and offering products that meet market demand. Specifically, we are managing cost impacts through pricing actions, implementing\ncost saving measures and slowing hiring. We also continue to innovate and introduce new and enhanced products that augment our doctor customer and\npatient experiences.\nFor instance, in the first quarter of 2023, we successfully launched the Invisalign Comprehensive 3in3 product. The 3in3 configuration offers doctors\nInvisalign Comprehensive treatment with a three-year treatment expiration date and three additional clear aligners included prior to the treatment expiration\ndate. We anticipate adoption of the Invisalign Comprehensive 3in3 product will continue to increase in 2024. The 3in3 product allows us to recognize more\nrevenue up front but is offered at a lower price as compared to our traditional Invisalign comprehensive product that has a five-year treatment expiration\ndate with unlimited additional clear aligner prior to the treatment end date.\nFurther discussion of the impact of these challenges on our business may be found in Part I, Item 1A of this Annual Report on Form 10-K under\nthe heading “Risk Factors.\n”\nKey Financial and Operating Metrics\nWe measure our performance against these strategic priorities by the achievement of key financial and operating metrics. For the year ended\nDecember 31, 2023, our business operations reflect the following:\n◦ Revenues of $3,862.3 million, an increase of 3.4% year-over-year;\n◦ Clear Aligner revenues of $3,199.3 million, an increase of 4.1% year-over-year;\n▪ Americas Clear Aligner case revenues of $1,463.0 million, a decrease of 0.6% year-over-year;\n▪ International Clear Aligner case revenues of $1,449.5 million, an increase of 7.4% year-over-year;\n▪ Clear Aligner volume increase of 0.4% year-over-year and Clear Aligner volume increase for teenage patients of 7.8% year-\nover-year;\n◦ Imaging Systems and CAD/CAM Services revenues of $662.9 million, an increase of 0.1% year-over-year;\n◦ Income from operations of $643.3 million and operating margin of 16.7%;\n◦ Effective tax rate of 30.6%;\n◦ Net income of $445.1 million with diluted net income per share of $5.81;\n◦ Cash, cash equivalents and marketable securities of $980.8 million as of December 31, 2023;\n◦ Operating cash flow of $785.8 million;\n◦ Capital expenditures of $177.7 million, predominantly related to purchases of property, plant and equipment; and\n◦ Number of employees was 21,610 as of December 31, 2023, a decrease of 6.7% year-over-year.\nOther Statistical Data and Trends",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000297_segments",
      "report_id": "ID_000297",
      "company_name": "Align Technology",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Clear Aligner and Systems and Services ",
      "golden_context": "Page 42:\n\nNet Revenues by Reportable Segment\nWe group our operations into two reportable segments: Clear Aligner segment and Systems and Services segment.\n• Our Clear Aligner segment consists of Comprehensive Products, Non-Comprehensive Products and Non-Case revenues as defined below:\n• Comprehensive Products include, but are not limited to, Invisalign Comprehensive and Invisalign First.\n• Non-Comprehensive Products include, but are not limited to, Invisalign Moderate, Lite and Express packages and Invisalign Go and\nInvisalign Go Plus.\n• We also offer in the U.S., Canada, and EMEA, a Doctor Subscription Program which is our monthly subscription-based clear aligner\nprogram. The program allows doctors the flexibility to order retainers and low-stage “touch-up” clear aligners within their subscribed tier\nand is designed for a segment of experienced Invisalign trained doctors who are currently not regularly using our retainers or low-stage\naligners. The low-stage aligners, the Touch up product, are included as a Non-Comprehensive Product.\n• Non-Case products include, but are not limited to, retention products including retention aligners ordered through the Doctor\nSubscription Program, Invisalign training, adjusting tools used by dental professionals during the course of treatment and Invisalign\nAccessory Products that are complementary to our doctor-prescribed principal products such as aligner cases (clamshells), teeth\nwhitening products, cleaning solutions (crystals, foam and other material) and other oral health products available in certain commerce\nchannels in select markets.\n• Our Systems and Services segment consists of our iTero intraoral scanning systems, which includes a single hardware platform and restorative or\northodontic software options. Our services include subscription software, disposables, rentals, leases, pay per scan services, as well as exocad’s\nCAD/CAM software solutions that integrate workflows to dental labs and dental practices.\nNet revenues for our Clear Aligner and Systems and Services segments",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_cash_flow",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 807152k, investing: -269246k, financing: -719130k",
      "golden_context": "Page 30:\n\nummary, our cash flows for 2021, 2020, and 2019 were as follows:\nNet cash provided by operating activities Net cash (used in) provided by investing activities Net cash used in financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net (decrease) increase in cash, cash equivalents and restricted cash Year Ended December 31,\n2021 2020 2019\n(In thousands)\n$ 807,152 $ 730,183 $ 753,892\n(269,246) (72,258) 167,195\n(719,130) (764,877) (770,303)\n(561) (48) 64\n$ (181,785) $ (107,000) $ 150,848\nCash flows from operating activities\nOur largest source of operating cash flows is cash collections from our customers. Our primary uses of cash from operating activities are for personnel\nrelated expenditures, and other general operating expenses, as well as payments related to taxes, interest and facilities.\nNet cash provided by operating activities increased in 2021 compared to 2020 primarily due to an increase in cash received from customers, partially\noffset by increases in cash paid for income taxes, cash paid to employees and vendors, and decreases in cash received from interest on investments and from\ntransition services. Cash received from customers increased primarily due to higher domain name registrations and renewals and the impact of the .com price\nincrease which became effective September 1, 2021. The increased volume of renewal transactions was due in part to early renewal transactions before the\n.com price increase became effective. Cash paid for income taxes increased primarily due to comparatively higher federal, state, and foreign taxes. Cash paid to\nemployees and vendors increased primarily due to the timing of payments and an increase in operating expenses. Cash received from interest on investments\ndecreased due to a decline in interest rates. Cash received from transition services decreased due to the expiration of the transition services agreement related to\nour divested security services business in February 2020.\nCash flows from investing activities\nThe changes in cash flows from investing activities primarily relate to purchases, maturities and sales of marketable securities, purchases of property and\nequipment and the sale of businesses.\nNet cash used in investing activities increased in 2021 compared to 2020 primarily due to an increase in purchases of marketable securities and\ninvestments, net of proceeds from maturities and sales of marketable securities and investments, an increase in purchases of property and equipment, and\npayments received during 2020 related to our divested security services business.\nCash flows from financing activities\nThe changes in cash flows from financing activities primarily relate to share repurchases, proceeds from borrowings, repayment of borrowings, and our\nemployee stock purchase plan.\nNet cash used in financing activities decreased in 2021 compared to 2020 primarily due to proceeds received from the issuance of the 2031 Notes and a\ndecrease in share repurchases, partially offset by the redemption of our 2023 Notes.\nIncome taxes\nWe expect cash paid for income taxes as a percentage of pre-tax income to be between 21% and 24% in 2022.\nProperty and Equipment Expenditures\nOur planned property and equipment expenditures for 2022 are anticipated to be between $40.0 million and $50.0 million and will primarily be focused\non infrastructure upgrades software enhan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_company_type",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n————————\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 000-23593\n————————\nVERISIGN, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 94-3221585\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n12061 Bluemont Way,\nReston, Virginia 20190\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (703) 948-3200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol(s) VRSN Name of each exchange on which registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated\nfiler,\n” “accelerated filer,\n” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes ☐ No ☒\nThe aggregate market value of the voting and non-voting common equity stock held by non-affiliates of the Registrant as of June 30, 2021, was $16.5 billion based upon the last sale price\nreported for such date on the Nasdaq Global Select Market. For purposes of this disclosure, shares of Common Stock held by persons known to the Registrant (based on information provided by such\npersons and/or the most recent Schedule 13Gs filed by such persons) to beneficially own more than 5% of the Registrant’s Common Stock and shares held by officers and directors of the Registrant\nhave been excluded because such persons may be deemed to be affiliates. This determination is not necessarily a conclusive determination for other purposes.\nNumber of shares of Common Stock, $0.001 par value, outstanding as of the close of business on February 11, 2022: 110,167,438 shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant’s definitive proxy statement to be delivered to stockholders in connection with the 2022 Annual Meeting of Stockholders are in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_key_financials",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenues 1327576k, operating income 866803k, EPS basic 7.01",
      "golden_context": "Page 37:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\n$ 1,327,576 $ 1,265,052 $ 1,231,661\nRevenues Costs and expenses:\nCost of revenues 191,933 180,177 180,467\nSales and marketing 39,877 36,790 46,637\nResearch and development 80,529 74,671 60,805\nGeneral and administrative 148,434 149,213 137,625\nTotal costs and expenses 460,773 440,851 425,534\nOperating income 866,803 824,201 806,127\nInterest expense (83,255) (90,144) (90,611)\nNon-operating (loss) income, net (1,329) 16,187 43,260\nIncome before income taxes 782,219 750,244 758,776\nIncome tax benefit (expense) 2,611 64,644 (146,477)\nNet income 784,830 814,888 612,299\nOther comprehensive (loss) income (29) (135) 190\nComprehensive income $ 784,801 $ 814,753 $ 612,489\nEarnings per share:\nBasic Diluted $ 7.01 $ 7.08 $ 5.17\n$ 7.00 $ 7.07 $ 5.15\nShares used to compute earnings per share\nBasic 112,015 115,058 118,513\nDiluted 112,166 115,298 118,968\nSee accompanying Notes to Consolidated Financial Statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_revenue",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 1327576k",
      "golden_context": "Page 37:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\n$ 1,327,576 $ 1,265,052 $ 1,231,661\nRevenues Costs and expenses:\nCost of revenues 191,933 180,177 180,467\nSales and marketing 39,877 36,790 46,637\nResearch and development 80,529 74,671 60,805\nGeneral and administrative 148,434 149,213 137,625\nTotal costs and expenses 460,773 440,851 425,534\nOperating income 866,803 824,201 806,127\nInterest expense (83,255) (90,144) (90,611)\nNon-operating (loss) income, net (1,329) 16,187 43,260\nIncome before income taxes 782,219 750,244 758,776\nIncome tax benefit (expense) 2,611 64,644 (146,477)\nNet income 784,830 814,888 612,299\nOther comprehensive (loss) income (29) (135) 190\nComprehensive income $ 784,801 $ 814,753 $ 612,489\nEarnings per share:\nBasic Diluted $ 7.01 $ 7.08 $ 5.17\n$ 7.00 $ 7.07 $ 5.15\nShares used to compute earnings per share\nBasic 112,015 115,058 118,513\nDiluted 112,166 115,298 118,968\nSee accompanying Notes to Consolidated Financial Statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_revenue_growth",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue 1327576k, prior year 1265052k",
      "golden_context": "Page 37:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\n$ 1,327,576 $ 1,265,052 $ 1,231,661\nRevenues Costs and expenses:\nCost of revenues 191,933 180,177 180,467\nSales and marketing 39,877 36,790 46,637\nResearch and development 80,529 74,671 60,805\nGeneral and administrative 148,434 149,213 137,625\nTotal costs and expenses 460,773 440,851 425,534\nOperating income 866,803 824,201 806,127\nInterest expense (83,255) (90,144) (90,611)\nNon-operating (loss) income, net (1,329) 16,187 43,260\nIncome before income taxes 782,219 750,244 758,776\nIncome tax benefit (expense) 2,611 64,644 (146,477)\nNet income 784,830 814,888 612,299\nOther comprehensive (loss) income (29) (135) 190\nComprehensive income $ 784,801 $ 814,753 $ 612,489\nEarnings per share:\nBasic Diluted $ 7.01 $ 7.08 $ 5.17\n$ 7.00 $ 7.07 $ 5.15\nShares used to compute earnings per share\nBasic 112,015 115,058 118,513\nDiluted 112,166 115,298 118,968\nSee accompanying Notes to Consolidated Financial Statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000298_segments",
      "report_id": "ID_000298",
      "company_name": "Verisign",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One reportable segment: The Company\nenables the security, stability, and resiliency of key internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains, which support the majority of global e-commerce.",
      "golden_context": "Page 40:\n\nummary of Significant Accounting Policies\nDescription of Business\nVeriSign, Inc. (“Verisign” or “the Company”) was incorporated in Delaware on April 12, 1995. The Company has one reportable segment. The Company\nenables the security, stability, and resiliency of key internet infrastructure and services, including providing root zone maintainer services, operating two of the\n13 global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains, which support the\nmajority of global e-commerce.\nBasis of Presentation\nThe accompanying consolidated financial statements of Verisign and its subsidiaries have been prepared in conformity with generally accepted\naccounting principles (“GAAP”) in the United States (“U.S.\n”). All significant intercompany accounts and transactions have been eliminated.\nThe preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of\nassets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Actual results may differ from these estimates under\ndifferent assumptions or conditions.\nReclassifications\nCertain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on net\nincome as previously reported.\nSignificant Accounting Policies\nCash and Cash Equivalents\nVerisign considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash\nequivalents include certain money market funds, debt securities and various deposit accounts. Verisign maintains its cash and cash equivalents with financial\ninstitutions that have investment grade ratings and, as part of its cash management process, performs periodic evaluations of the relative credit standing of these\nfinancial institutions.\nMarketable Securities\nMarketable securities primarily consist of debt securities issued by the U.S. Treasury. All marketable securities are classified as available-for-sale and are\ncarried at fair value. Unrealized gains and losses, net of taxes, are reported as a component of Accumulated other comprehensive loss. The specific\nidentification method is used to determine the cost basis of the marketable securities sold. The Company classifies its marketable securities as current based on\ntheir nature and availability for use in current operations.\nProperty and Equipment\nProperty and equipment are stated",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_cash_flow",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 831.1m, investing: 355.7m, financing: -1035.8m",
      "golden_context": "Page 27:\n\n31, 2022, there was approximately $858.8 million remaining available for future share repurchases under the\nshare repurchase program which has no expiration date.\nAs of December 31, 2022, we had $750.0 million principal amount outstanding of the 2.70% senior unsecured notes due 2031, $550.0 million principal\namount outstanding of the 4.75% senior unsecured notes due 2027, $500.0 million principal amount outstanding of the 5.25% senior unsecured notes due\n2025. As of December 31, 2022, there were no borrowings outstanding under our $200.0 million unsecured revolving credit facility that will expire in 2024.\nWe believe existing cash, cash equivalents and marketable securities, and funds generated from operations, together with our ability to arrange for\nadditional financing should be sufficient to meet our working capital, capital expenditure requirements, and to service our debt for the next 12 months and\nbeyond. We regularly assess our cash management approach and activities in view of our current and potential future needs. Our most significant future cash\nrequirements include interest and principal payments on the senior notes issuances described above, income tax payments, purchase obligations and registry\nfees related to the operation of certain top-level domains. These items are detailed in Note 11,\n“Commitments and Contingencies” of our Notes to\nConsolidated Financial Statements in Item 8 of this Form 10-K.\nIn summary, our cash flows for 2022, 2021, and 2020 were as follows:\nNet cash provided by operating activities Net cash provided by (used in) investing activities Net cash used in financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Year Ended December 31,\n2022 2021 2020\n(In millions)\n$ 831.1 $ 807.2 $ 730.2\n355.7 (269.2) (72.3)\n(1,035.8) (719.1) (764.9)\n(0.8) (0.7) —\nNet increase (decrease) in cash, cash equivalents and restricted cash $ 150.2 $ (181.8) $ (107.0)\nCash flows from operating activities\nOur largest source of operating cash flows is cash collections from our customers. Our primary uses of cash from operating activities are for personnel\nrelated expenditures, and other general operating expenses, as well as payments related to taxes, interest and facilities.\nNet cash provided by operating activities increased in 2022 compared to 2021 primarily due to increases in cash received from customers and interest\non investments and a decrease in cash paid for interest, partially offset by an increase in cash paid for income taxes. Cash received from customers increased\nprimarily due to the impact of the .com price increases that were effective on each of September 1, 2021 and September 1, 2022. Cash received from interest\non investments increased due to hig",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_company_type",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n————————\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 000-23593\n————————\nVERISIGN, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 94-3221585\n(State or other jurisdiction of\nincorporation or organization)\n12061 Bluemont Way,\n(Address of principal executive offices) (I.R.S. Employer\nIdentification No.)\nReston, Virginia 20190\n(Zip Code)\nRegistrant’s telephone number, including area code: (703) 948-3200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol(s) VRSN Name of each exchange on which registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ ☒ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated\nfiler,\n” “accelerated filer,\n” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error\nto previously issued financial statements. o\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive\nofficers during the relevant recovery period pursuant to §240.10D-1(b). o\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes ☐ No ☒\nThe aggregate market value of the voting and non-voting common equity stock held by non-affiliates of the Registrant as of June 30, 2022, was $12.4 billion based upon the last sale price\nreported for such date on the Nasdaq Global Select Market. For purposes of this disclosure, shares of Common Stock held by persons known to the Registrant (based on information provided by\nsuch persons and/or the most recent Schedule 13Gs filed by such persons) to beneficially own more than 5% of the Registrant’s Common Stock and shares held by officers and directors of the\nRegistrant have been excluded because such persons may be deemed to be affiliates. This determination is not necessarily a conclusive determination for other purposes.\nNumber of shares of Common Stock, $0.001 par value, outstanding as of the close of business on February 10, 2023: 104,879,307 shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant’s definitive proxy statement to be delivered to stockholders in connection with the 2023 Annual Meeting of Stockholders are incorporated by reference into Part III\nof this Annual Report on Form 10-K where indicated.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_key_financials",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "EPS basic 6.24, operating income 943.1m",
      "golden_context": "Page 35:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\n$ 1,424.9 $ 1,327.6 $ 1,265.1\nRevenues Costs and expenses:\nCost of revenues 200.7 191.9 180.2\nResearch and development 85.7 80.5 74.7\nSelling, general and administrative 195.4 188.4 186.0\nTotal costs and expenses 481.8 460.8 440.9\nOperating income 943.1 866.8 824.2\nInterest expense (75.3) (83.3) (90.2)\nNon-operating income (loss), net 12.4 (1.3) 16.2\nIncome before income taxes 880.2 782.2 750.2\nIncome tax (expense) benefit (206.4) 2.6 64.7\nNet income 673.8 784.8 814.9\nOther comprehensive income (loss) 0.1\n—\n(0.1)\nComprehensive income $ 673.9 $ 784.8 $ 814.8\nEarnings per share:\nBasic Diluted $ 6.24 $ 7.01 $ 7.08\n$ 6.24 $ 7.00 $ 7.07\nShares used to compute earnings per share\nBasic 107.9 112.0 115.1\nDiluted 108.0 112.2 115.3\nSee accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_revenue",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenues 1424.9m",
      "golden_context": "Page 35:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\n$ 1,424.9 $ 1,327.6 $ 1,265.1\nRevenues Costs and expenses:\nCost of revenues 200.7 191.9 180.2\nResearch and development 85.7 80.5 74.7\nSelling, general and administrative 195.4 188.4 186.0\nTotal costs and expenses 481.8 460.8 440.9\nOperating income 943.1 866.8 824.2\nInterest expense (75.3) (83.3) (90.2)\nNon-operating income (loss), net 12.4 (1.3) 16.2\nIncome before income taxes 880.2 782.2 750.2\nIncome tax (expense) benefit (206.4) 2.6 64.7\nNet income 673.8 784.8 814.9\nOther comprehensive income (loss) 0.1\n—\n(0.1)\nComprehensive income $ 673.9 $ 784.8 $ 814.8\nEarnings per share:\nBasic Diluted $ 6.24 $ 7.01 $ 7.08\n$ 6.24 $ 7.00 $ 7.07\nShares used to compute earnings per share\nBasic 107.9 112.0 115.1\nDiluted 108.0 112.2 115.3\nSee accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_revenue_growth",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 1424.9m, prior year 1327.6m",
      "golden_context": "Page 35:\n\nVERISIGN, INC.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In millions, except per share data)\nYear Ended December 31,\n2022 2021 2020\n$ 1,424.9 $ 1,327.6 $ 1,265.1\nRevenues Costs and expenses:\nCost of revenues 200.7 191.9 180.2\nResearch and development 85.7 80.5 74.7\nSelling, general and administrative 195.4 188.4 186.0\nTotal costs and expenses 481.8 460.8 440.9\nOperating income 943.1 866.8 824.2\nInterest expense (75.3) (83.3) (90.2)\nNon-operating income (loss), net 12.4 (1.3) 16.2\nIncome before income taxes 880.2 782.2 750.2\nIncome tax (expense) benefit (206.4) 2.6 64.7\nNet income 673.8 784.8 814.9\nOther comprehensive income (loss) 0.1\n—\n(0.1)\nComprehensive income $ 673.9 $ 784.8 $ 814.8\nEarnings per share:\nBasic Diluted $ 6.24 $ 7.01 $ 7.08\n$ 6.24 $ 7.00 $ 7.07\nShares used to compute earnings per share\nBasic 107.9 112.0 115.1\nDiluted 108.0 112.2 115.3\nSee accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000299_segments",
      "report_id": "ID_000299",
      "company_name": "Verisign",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "he Company has one reportable segment. The\nCompany enables the security, stability, and resiliency of key internet infrastructure and services, including providing Root Zone Maintainer services, operating two of the 13 global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains, which support the majority of global e-commerce.",
      "golden_context": "Page 38:\n\nunting Policies\nDescription of Business\nVeriSign, Inc. (“Verisign” or “the Company”) was incorporated in Delaware on April 12, 1995. The Company has one reportable segment. The\nCompany enables the security, stability, and resiliency of key internet infrastructure and services, including providing Root Zone Maintainer services,\noperating two of the 13 global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains,\nwhich support the majority of global e-commerce.\nBasis of Presentation\nThe accompanying consolidated financial statements of Verisign and its subsidiaries have been prepared in conformity with generally accepted\naccounting principles (“GAAP”) in the United States (“U.S.\n”). All significant intercompany accounts and transactions have been eliminated.\nThe preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of\nassets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Actual results may differ from these estimates under\ndifferent assumptions or conditions.\nReclassifications\nCertain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on net\nincome as previously reported.\nSignificant Accounting Policies\nCash and Cash Equivalents\nVerisign considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash\nequivalents include certain money market funds, debt securities and various deposit accounts. Verisign maintains its cash and cash equivalents with financial\ninstitutions that have investment grade ratings and, as part of its cash management process, performs periodic evaluations of the relative credit standing of\nthese financial institutions.\nMarketable Securities\nMarketable securities primarily consist of debt securities issued",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_cash_flow",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "cash flows operating 853.8m",
      "golden_context": "Page 24:\n\nverview\nWe are a global provider of critical internet infrastructure and domain name registry services, enabling internet navigation for many of the world’s most\nrecognized domain names. We help enable the security, stability, and resiliency of the DNS and the internet by providing Root Zone Maintainer Services,\noperating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net TLDs, which\nsupport the majority of global e-commerce.\nAs of December 31, 2023, we had 172.7 million .com and .net registrations in the domain name base. The number of domain names registered is largely\ndriven by continued growth in online advertising, e-commerce, and the number of internet users, which is partially driven by greater availability of internet\naccess, as well as marketing activities carried out by us and our registrars. Growth in the number of domain name registrations under our management may be\nhindered by certain factors, including overall economic conditions, competition from ccTLDs, other gTLDs, services that offer alternatives for an online\npresence, such as social media, and ongoing changes in the internet practices and behaviors of consumers and businesses. Factors such as the evolving\npractices and preferences of internet users, and how they navigate the internet, as well as the motivation of domain name registrants and how they will\nmanage their investment in domain names, can negatively impact our business and the demand for new domain name registrations and renewals.\n2023 Business Highlights and Trends\n• We recorded revenues of $1,493.1 million in 2023, which represents an increase of 5% compared to 2022.\n• We recorded operating income of $1,000.6 million during 2023, which represents an increase of 6% as compared to 2022.\n• We finished 2023 with 172.7 million .com and .net registrations in the domain name base, which represents a 0.6% decrease from December 31,\n2022.\n• During 2023, we processed 39.4 million new domain name registrations for .com and .net compared to 39.9 million in 2022.\n• The final .com and .net renewal rate for the third quarter of 2023 was 73.5% compared to 73.7% for the same quarter of 2022. Renewal rates are\nnot fully measurable until 45 days after the end of the quarter.\n• We repurchased 4.2 million shares of our common stock for an aggregate cost of $882.8 million in 2023. As of December 31, 2023, there was\n$1.12 billion remaining for future share repurchases under the share repurchase program.\n• We generated cash flows from operating activities of $853.8 million in 2023, which represents an increase of 3% as compared to 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_company_type",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n————————\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 000-23593\n————————\nVERISIGN, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 94-3221585\n(State or other jurisdiction of\nincorporation or organization)\n12061 Bluemont Way,\n(Address of principal executive offices) (I.R.S. Employer\nIdentification No.)\nReston, Virginia 20190\n(Zip Code)\nRegistrant’s telephone number, including area code: (703) 948-3200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol(s) VRSN Name of each exchange on which registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ ☒ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or\nfor such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated\nfiler,\n” “accelerated filer,\n” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error\nto previously issued financial statements. o\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive\nofficers during the relevant recovery period pursuant to §240.10D-1(b). o\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes ☐ No ☒\nThe aggregate market value of the voting and non-voting common equity stock held by non-affiliates of the Registrant as of June 30, 2023, was $15.9 billion based upon the last sale price\nreported for such date on the Nasdaq Global Select Market. For purposes of this disclosure, shares of Common Stock held by persons known to the Registrant (based on information provided by\nsuch persons and/or the most recent Schedule 13Gs filed by such persons) to beneficially own more than 5% of the Registrant’s Common Stock and shares held by officers and directors of the\nRegistrant have been excluded because such persons may be deemed to be affiliates. This determination is not necessarily a conclusive determination for other purposes.\nNumber of shares of Common Stock, $0.001 par value, outstanding as of the close of business on February 9, 2024: 100.9 million shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant’s definitive proxy statement to be delivered to stockholders in connection with the 2024 Annual Meet",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_key_financials",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue 1493.1m, operating activities of 853.8m, operating income of 1000.6m",
      "golden_context": "Page 24:\n\nverview\nWe are a global provider of critical internet infrastructure and domain name registry services, enabling internet navigation for many of the world’s most\nrecognized domain names. We help enable the security, stability, and resiliency of the DNS and the internet by providing Root Zone Maintainer Services,\noperating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net TLDs, which\nsupport the majority of global e-commerce.\nAs of December 31, 2023, we had 172.7 million .com and .net registrations in the domain name base. The number of domain names registered is largely\ndriven by continued growth in online advertising, e-commerce, and the number of internet users, which is partially driven by greater availability of internet\naccess, as well as marketing activities carried out by us and our registrars. Growth in the number of domain name registrations under our management may be\nhindered by certain factors, including overall economic conditions, competition from ccTLDs, other gTLDs, services that offer alternatives for an online\npresence, such as social media, and ongoing changes in the internet practices and behaviors of consumers and businesses. Factors such as the evolving\npractices and preferences of internet users, and how they navigate the internet, as well as the motivation of domain name registrants and how they will\nmanage their investment in domain names, can negatively impact our business and the demand for new domain name registrations and renewals.\n2023 Business Highlights and Trends\n• We recorded revenues of $1,493.1 million in 2023, which represents an increase of 5% compared to 2022.\n• We recorded operating income of $1,000.6 million during 2023, which represents an increase of 6% as compared to 2022.\n• We finished 2023 with 172.7 million .com and .net registrations in the domain name base, which represents a 0.6% decrease from December 31,\n2022.\n• During 2023, we processed 39.4 million new domain name registrations for .com and .net compared to 39.9 million in 2022.\n• The final .com and .net renewal rate for the third quarter of 2023 was 73.5% compared to 73.7% for the same quarter of 2022. Renewal rates are\nnot fully measurable until 45 days after the end of the quarter.\n• We repurchased 4.2 million shares of our common stock for an aggregate cost of $882.8 million in 2023. As of December 31, 2023, there was\n$1.12 billion remaining for future share repurchases under the share repurchase program.\n• We generated cash flows from operating activities of $853.8 million in 2023, which represents an increase of 3% as compared to 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_revenue",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 1493.1m",
      "golden_context": "Page 24:\n\nverview\nWe are a global provider of critical internet infrastructure and domain name registry services, enabling internet navigation for many of the world’s most\nrecognized domain names. We help enable the security, stability, and resiliency of the DNS and the internet by providing Root Zone Maintainer Services,\noperating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net TLDs, which\nsupport the majority of global e-commerce.\nAs of December 31, 2023, we had 172.7 million .com and .net registrations in the domain name base. The number of domain names registered is largely\ndriven by continued growth in online advertising, e-commerce, and the number of internet users, which is partially driven by greater availability of internet\naccess, as well as marketing activities carried out by us and our registrars. Growth in the number of domain name registrations under our management may be\nhindered by certain factors, including overall economic conditions, competition from ccTLDs, other gTLDs, services that offer alternatives for an online\npresence, such as social media, and ongoing changes in the internet practices and behaviors of consumers and businesses. Factors such as the evolving\npractices and preferences of internet users, and how they navigate the internet, as well as the motivation of domain name registrants and how they will\nmanage their investment in domain names, can negatively impact our business and the demand for new domain name registrations and renewals.\n2023 Business Highlights and Trends\n• We recorded revenues of $1,493.1 million in 2023, which represents an increase of 5% compared to 2022.\n• We recorded operating income of $1,000.6 million during 2023, which represents an increase of 6% as compared to 2022.\n• We finished 2023 with 172.7 million .com and .net registrations in the domain name base, which represents a 0.6% decrease from December 31,\n2022.\n• During 2023, we processed 39.4 million new domain name registrations for .com and .net compared to 39.9 million in 2022.\n• The final .com and .net renewal rate for the third quarter of 2023 was 73.5% compared to 73.7% for the same quarter of 2022. Renewal rates are\nnot fully measurable until 45 days after the end of the quarter.\n• We repurchased 4.2 million shares of our common stock for an aggregate cost of $882.8 million in 2023. As of December 31, 2023, there was\n$1.12 billion remaining for future share repurchases under the share repurchase program.\n• We generated cash flows from operating activities of $853.8 million in 2023, which represents an increase of 3% as compared to 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_revenue_growth",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "5% increase",
      "golden_context": "Page 24:\n\nverview\nWe are a global provider of critical internet infrastructure and domain name registry services, enabling internet navigation for many of the world’s most\nrecognized domain names. We help enable the security, stability, and resiliency of the DNS and the internet by providing Root Zone Maintainer Services,\noperating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net TLDs, which\nsupport the majority of global e-commerce.\nAs of December 31, 2023, we had 172.7 million .com and .net registrations in the domain name base. The number of domain names registered is largely\ndriven by continued growth in online advertising, e-commerce, and the number of internet users, which is partially driven by greater availability of internet\naccess, as well as marketing activities carried out by us and our registrars. Growth in the number of domain name registrations under our management may be\nhindered by certain factors, including overall economic conditions, competition from ccTLDs, other gTLDs, services that offer alternatives for an online\npresence, such as social media, and ongoing changes in the internet practices and behaviors of consumers and businesses. Factors such as the evolving\npractices and preferences of internet users, and how they navigate the internet, as well as the motivation of domain name registrants and how they will\nmanage their investment in domain names, can negatively impact our business and the demand for new domain name registrations and renewals.\n2023 Business Highlights and Trends\n• We recorded revenues of $1,493.1 million in 2023, which represents an increase of 5% compared to 2022.\n• We recorded operating income of $1,000.6 million during 2023, which represents an increase of 6% as compared to 2022.\n• We finished 2023 with 172.7 million .com and .net registrations in the domain name base, which represents a 0.6% decrease from December 31,\n2022.\n• During 2023, we processed 39.4 million new domain name registrations for .com and .net compared to 39.9 million in 2022.\n• The final .com and .net renewal rate for the third quarter of 2023 was 73.5% compared to 73.7% for the same quarter of 2022. Renewal rates are\nnot fully measurable until 45 days after the end of the quarter.\n• We repurchased 4.2 million shares of our common stock for an aggregate cost of $882.8 million in 2023. As of December 31, 2023, there was\n$1.12 billion remaining for future share repurchases under the share repurchase program.\n• We generated cash flows from operating activities of $853.8 million in 2023, which represents an increase of 3% as compared to 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000300_segments",
      "report_id": "ID_000300",
      "company_name": "Verisign",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "The Company has one reportable segment. The\nCompany helps enable the security, stability, and resiliency of the Domain Name System (“DNS”) and the internet by providing Root Zone Maintainer\nservices, operating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-\nlevel domains, which support the majority of global e-commerce.",
      "golden_context": "Page 39:\n\nription of Business and Summary of Significant Accounting Policies\nDescription of Business\nVeriSign, Inc. (“Verisign” or “the Company”) was incorporated in Delaware on April 12, 1995. The Company has one reportable segment. The\nCompany helps enable the security, stability, and resiliency of the Domain Name System (“DNS”) and the internet by providing Root Zone Maintainer\nservices, operating two of the thirteen global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-\nlevel domains, which support the majority of global e-commerce.\nBasis of Presentation\nThe accompanying consolidated financial statements of Verisign and its subsidiaries have been prepared in conformity with generally accepted\naccounting principles (“GAAP”) in the United States (“U.S.\n”). All significant intercompany accounts and transactions have been eliminated.\nThe preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of\nassets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Actual results may differ from these estimates under\ndifferent assumptions or conditions.\nReclassifications\nCertain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on net\nincome as previously reported.\nSignificant Accounting Policies\nCash and Cash Equivalents\nVerisign considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash\nequivalents include certain money market funds, debt securities and various deposit accounts. Verisign maintains its cash and cash equivalents with financial\ninstitutions that have investment grade ratings and, as part of its cash management process, performs periodic evaluations of the relative credit standing of\nthese financial institutions.\nMarketable Securities\nMarketable securities primarily consist of debt securities issued by the U.S. Treasury. All marketable securities are classified as available-for-sale and\nare carried at fair value. Unrealized gains and losses, net of taxes, are reported as a component of Accumulated other comprehensive loss. The specific\nidentification m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_cash_flow",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 618'875k, \ninvesting: -476'259k, \nfinancing: -101'141k",
      "golden_context": "Page 49:\n\nh can be increased to $2.75 billion through an accordion feature. In addition, the Company holds 39.8 million shares of\nACI, which had a value of $1.2 billion at December 31, 2021, which are subject to certain contractual lock-up provisions that\nexpire in June 2022.\nThe Company’s cash flow activities are summarized as follows (in thousands):\nYear Ended December 31,\n2021 2020\nCash, cash equivalents and restricted cash, beginning of year ....................................................... $ Net cash flow provided by operating activities .......................................................................... 293,188 $ 123,947\n618,875 589,913\nNet cash flow used for investing activities................................................................................. (476,259) (33,273)\nNet cash flow used for financing activities ................................................................................ (101,141) (387,399)\nNet change in cash, cash equivalents and restricted cash ........................................................... 41,475 169,241\n334,663 $ 293,188\nCash, cash equivalents and restricted cash, end of year ................................................................. $ Operating Activities\nThe Company anticipates that cash on hand, net cash flow provided by operating activities, borrowings under its Credit\nFacility and the issuance of equity and public debt, as well as other debt and equity alternatives, will provide the necessary\ncapital required by the Company. The Company will continue to evaluate its capital requirements for both its short-term and\nlong-term liquidity needs, which could be affected by various risks and uncertainties, including, but not limited to, the effects\nof the COVID-19 pandemic and other risks detailed in Part I, Item 1A. Risk Factors. See further discussion relating to the\neffects of the COVID-19 pandemic in the “COVID-19 Pandemic” and “Financing Activities” sections within this Item 7.\nCash flows provided by operating activities for the year ended December 31, 2021, were $618.9 million, as compared to\n$589.9 million for the comparable period in 2020. The increase of $29.0 million is primarily attributable to:\n● the acquisition of operating properties during 2021 and 2020, including those acquired from the Merger; and\n● new leasing, expansion and re-tenanting of core portfolio properties, partially offset by\n● a decrease in distributions from the Company’s joint ventures programs;\n● nonrecurring costs incurred in connection with the Merger during 2021;\n● changes in operating assets and liabilities due to timing of receipts and payments;\n● rent relief provided to tenants as a result of the COVID-19 pandemic; and\n● the disposition of operating properties in 2021 and 2020.\nInvesting Activities\nCash flows used for investing activities were $476.3 million for 2021, as compared to $33.3 million for 2020.\nInvesting activities during 2021 consisted primarily of:\nCash inflows:\n● $302.8 million in proceeds from the sale of 13 consolidated properties and 10 parcels (including the\ndeconsolidation of 6 operating properties);\n● $111.9 million in reimbursements of investments in and advances to real estate joint ventures and other\ninvestments primarily due to the sale of properties within the investments; and\n● $13.8 million in collection of mortgage and other financing receivables.\nCash outflows:\n● $356.0 mill",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_company_type",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 13:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission file number 1-10899\nKIMCO REALTY CORPORATION\n(Exact name of registrant as specified in its charter)\nMaryland 13-2744380\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\nTitle of each class\n500 North Broadway, Suite 201, Jericho, NY 11753\n(Address of principal executive offices) (Zip Code)\n(516) 869-9000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading\nSymbol(s) Name of each exchange on which registered\nKIM KIMprL Common Stock, par value $.01 per share. ..................................................................... New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 5.125% Class L\nCumulative Redeemable, Preferred Stock, $1.00 par value per share. ...................... New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 5.250% Class M\nCumulative Redeemable Preferred Stock, $1.00 par value per share. ....................... KIMprM New York Stock Exchange\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued\nits audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant was approximately $8.8 billion based upon\nthe closing price on the New York Stock Exchange for such equity on June 30, 2021.\n(APPLICABLE ONLY TO CORPORATE REGISTRANTS)\nIndicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_key_financials",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "FFO 706.8m, \n1.38 per diluted share, \ngrowth in same property net operating income by 8.8%",
      "golden_context": "Page 3:\n\near Fellow Stockholders and Associates:\nAmid a tumultuous landscape in 2021, our portfolio\nfundamentals rebounded remarkably. We saw\nextraordinary leasing volume and solid occu-\npancy gains along with growth in Funds from\nOperations, generating a total return for our\nstockholders, including dividend reinvestment,\nof 69.5 percent – one of the highest levels in\nour peer group. Our grocery-anchored, open-air\nportfolio is in the sweet spot of retail, attracting\ntop retailers who can plug into the supply chain\nand utilize our real estate to deliver goods and\nservices to their customers in the most flexible\nand convenient way possible. Our strategic merger\nwith Weingarten Realty Investors has strength-\nened our presence in fast-growing Sun Belt mar-\nkets, intensified our focus on grocery-anchored\nassets, and bolstered our pipeline of value-cre-\nating redevelopment opportunities. Our highly\nskilled and experienced team has created a one-\nof-a-kind platform that makes us the premier\nowner and operator in our asset class, and the\nstrength of our balance sheet ensures that we\ncan weather any storm while also allowing us\nto strategically deploy capital for opportunistic\ninvestments or accretive acquisitions that will\ncreate additional value for our stockholders.\nKimco’s operating results in 2021 reflect the success\nof our strategy, focused on grocery-anchored,\nopen-air and mixed-use centers in the first ring\nsuburbs of the top major metropolitan markets\nin the U.S. Nareit FFO for the full year 2021\nwas $706.8 million, or $1.38 per diluted share,\ncompared to $503.7 million, or $1.17 per diluted\nshare, for the full year 2020. Spurred on by our\n“leasing, leasing, leasing” rallying cry and capital-\nizing on the strong demand for our high-quality\nlocations, our team leased 8.7 million square\nfeet in 2021, driving a 50-basis-point increase in\npro-rata occupancy for the year which landed\nat 94.4 percent, with anchor occupancy at\n97.1 percent and small shops at 87.7 percent.\nPro-rata spreads on new leases were a posi-\ntive 8.7 percent in 2021 and combined pro-rata\nspreads were a healthy 6.5 percent. With col-\nlections and credit loss improving, we grew\nSame Property Net Operating Income (NOI)\nby 8.8 percent in 2021 compared to 2020,\nexcluding the Weingarten portfolio. Inclusive of\nthe Weingarten portfolio, fourth quarter 2021\nSame Property NOI increased by 12.9 percent.\nWe ended the year with a 270-basis-point spread\nbetween our 94.4 percent leased occupancy and\n91.7 percent economic occupancy, providing\na nice tailwind for future Same Property NOI\ngrowth as new leases commence paying rent.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_revenue",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1'364'585k",
      "golden_context": "Page 72:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenues\nRevenues from rental properties, net.................................................. $ 1,349,702 $ 1,044,888 $ 1,142,334\nManagement and other fee income..................................................... 14,883 13,005 16,550\nTotal revenues ............................................................................ 1,364,585 1,057,893 1,158,884\nOperating expenses\nRent.................................................................................................... (13,773) (11,270) (11,311)\nReal estate taxes ................................................................................. (181,256) (157,661) (153,659)\nOperating and maintenance................................................................ (222,882) (174,038) (171,981)\nGeneral and administrative................................................................. (104,121) (93,217) (96,942)\nImpairment charges............................................................................ (3,597) (6,624) (48,743)\nMerger charges................................................................................... (50,191) - -\nDepreciation and amortization ........................................................... (395,320) (288,955) (277,879)\nTotal operating expenses ............................................................ (971,140) (731,765) (760,515)\nGain on sale of properties .............................................................................. 30,841 6,484 79,218\nOperating income........................................................................................... 424,286 332,612 477,587\nOther income, net............................................................................... 19,810 4,119 10,985\nGain on marketable securities, net...................................................... 505,163 594,753 829\nInterest expense.................................................................................. (204,133) (186,904) (177,395)\n(Provision)/benefit for income taxes, net ........................................... (3,380) (978) 3,317\nEquity in income of joint ventures, net............................................... 84,778 47,353 72,162\nEquity in income of other investments, net ........................................ 23,172 28,628 26,076\nOther income/(expense)\nGain on sale of cost method investment.............................................\n- 190,832 -\nEarly extinguishment of debt charges ................................................\n- (7,538) -\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net...................................... 745,126 927,874 312,006\nPreferred stock redemption charges ...................................................\n- - (18,528)\nPreferred dividends ............................................................................ (25,416) (25,416) (52,089)\nPer common share:\nNet income ..................................................................................... 849,696 1,002,877 413,561\nNet income attributable to noncontrolling interests............................ (5,637) (2,044) (2,956)\nNet income attributable to the Company........................................ 844,059 1,000,833 410,605\nNet income available to the Company's common shareholders...... $ 818,643 $ 975,417 $ 339,988\nNet income available to the Company's common shareholders:\n-Basic ......................................................................................... $ 1.61 $ 2.26 $ 0.80\n-Diluted ...................................................................................... $ 1.60 $ 2.25 $ 0.80\nWeighted average shares:\n-Basic ......................................................................................... 506,248 429,950 420,370\n-Diluted ...................................................................................... 511,385 431,633 421,799\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 46:\n\ne following table presents the comparative results from the Company’s Consolidated Statements of Income for the year\nended December 31, 2021, as compared to the corresponding period in 2020 (in thousands, except per share data):\nYear Ended December 31,\n2021 2020 Change\nRevenues\nManagement and other fee income............................... 14,883 13,005 1,878\nOperating expenses\nRent (1) ........................................................................ (13,773) (11,270) (2,503)\nGain on sale of properties .................................................... 30,841 6,484 24,357\nOther income/(expense)\nGain on marketable securities, net................................ 505,163 594,753 (89,590)\nGain on sale of cost method investment.......................\n- 190,832 (190,832)\nEarly extinguishment of debt charges ..........................\n- (7,538) 7,538\nProvision for income taxes, net .................................... (3,380) (978) (2,402)\nEquity in income of joint ventures, net......................... 84,778 47,353 37,425\nEquity in income of other investments, net .................. 23,172 28,628 (5,456)\nNet income available to the Company's common\nshareholders ..................................................................... $ 818,643 $ 975,417 $ (156,774)\nNet income available to the Company's common\nshareholders: ....................................................................\nDiluted per share .......................................................... $ 1.60 $ 2.25 $ (0.65)\nRent expense relates to ground lease payments for which the Company is the lessee.\nOperating and maintenance expense consists of property related costs including repairs and maintenance costs, roof repair,\nlandscaping, parking lot repair, snow removal, utilities, property insurance costs, security and various other property related\nexpenses.\nGeneral and administrative expense includes employee-related expenses (including salaries, bonuses, equity awards, benefits,\nseverance costs and payroll taxes), professional fees, office rent, travel and entertainment costs and other company-specific\nexpenses.\nNet income available to the Company’s common shareholders was $818.6 million for the year ended December 31, 2021, as\ncompared to $975.4 million for the comparable period in 2020. On a diluted per share basis, net income available to the\nCompany’s common shareholders for the year ended December 31, 2021, was $1.60 as compared to $2.25 for the comparable\nperiod in 2020. For additional disclosure, see Footnote 27 of the Notes to Consolidated Financial Statements included in this\nForm 10-K.\nThe following describes the changes of certain line items included on the Company’s Consolidated Statements of Income,\nthat the Company believes changed significantly and affected Net income available to the Company’s common shareholders\nduring the year ended December 31, 2021, as compared to the corresponding period in 2020:\nRevenue from rental properties, net –\nThe increase in Revenues from rental properties, net of $304.8 million is primarily from (i) an increase in revenues of\n$197.6 million due to properties acquired, primarily resulting from the Merger, (ii) a net decrease in credit losses from tenants\nof $86.8 million primarily due to increased collections, (iii) an increase in net straight-line rental income of $28.5 million\nprimarily due to a decrease in reserves, increase in leasing a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_revenue_growth",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1'364'585k, prior year 1'057'893k",
      "golden_context": "Page 72:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2021 2020 2019\nRevenues\nRevenues from rental properties, net.................................................. $ 1,349,702 $ 1,044,888 $ 1,142,334\nManagement and other fee income..................................................... 14,883 13,005 16,550\nTotal revenues ............................................................................ 1,364,585 1,057,893 1,158,884\nOperating expenses\nRent.................................................................................................... (13,773) (11,270) (11,311)\nReal estate taxes ................................................................................. (181,256) (157,661) (153,659)\nOperating and maintenance................................................................ (222,882) (174,038) (171,981)\nGeneral and administrative................................................................. (104,121) (93,217) (96,942)\nImpairment charges............................................................................ (3,597) (6,624) (48,743)\nMerger charges................................................................................... (50,191) - -\nDepreciation and amortization ........................................................... (395,320) (288,955) (277,879)\nTotal operating expenses ............................................................ (971,140) (731,765) (760,515)\nGain on sale of properties .............................................................................. 30,841 6,484 79,218\nOperating income........................................................................................... 424,286 332,612 477,587\nOther income, net............................................................................... 19,810 4,119 10,985\nGain on marketable securities, net...................................................... 505,163 594,753 829\nInterest expense.................................................................................. (204,133) (186,904) (177,395)\n(Provision)/benefit for income taxes, net ........................................... (3,380) (978) 3,317\nEquity in income of joint ventures, net............................................... 84,778 47,353 72,162\nEquity in income of other investments, net ........................................ 23,172 28,628 26,076\nOther income/(expense)\nGain on sale of cost method investment.............................................\n- 190,832 -\nEarly extinguishment of debt charges ................................................\n- (7,538) -\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net...................................... 745,126 927,874 312,006\nPreferred stock redemption charges ...................................................\n- - (18,528)\nPreferred dividends ............................................................................ (25,416) (25,416) (52,089)\nPer common share:\nNet income ..................................................................................... 849,696 1,002,877 413,561\nNet income attributable to noncontrolling interests............................ (5,637) (2,044) (2,956)\nNet income attributable to the Company........................................ 844,059 1,000,833 410,605\nNet income available to the Company's common shareholders...... $ 818,643 $ 975,417 $ 339,988\nNet income available to the Company's common shareholders:\n-Basic ......................................................................................... $ 1.61 $ 2.26 $ 0.80\n-Diluted ...................................................................................... $ 1.60 $ 2.25 $ 0.80\nWeighted average shares:\n-Basic ......................................................................................... 506,248 429,950 420,370\n-Diluted ...................................................................................... 511,385 431,633 421,799\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 46:\n\ne following table presents the comparative results from the Company’s Consolidated Statements of Income for the year\nended December 31, 2021, as compared to the corresponding period in 2020 (in thousands, except per share data):\nYear Ended December 31,\n2021 2020 Change\nRevenues\nManagement and other fee income............................... 14,883 13,005 1,878\nOperating expenses\nRent (1) ........................................................................ (13,773) (11,270) (2,503)\nGain on sale of properties .................................................... 30,841 6,484 24,357\nOther income/(expense)\nGain on marketable securities, net................................ 505,163 594,753 (89,590)\nGain on sale of cost method investment.......................\n- 190,832 (190,832)\nEarly extinguishment of debt charges ..........................\n- (7,538) 7,538\nProvision for income taxes, net .................................... (3,380) (978) (2,402)\nEquity in income of joint ventures, net......................... 84,778 47,353 37,425\nEquity in income of other investments, net .................. 23,172 28,628 (5,456)\nNet income available to the Company's common\nshareholders ..................................................................... $ 818,643 $ 975,417 $ (156,774)\nNet income available to the Company's common\nshareholders: ....................................................................\nDiluted per share .......................................................... $ 1.60 $ 2.25 $ (0.65)\nRent expense relates to ground lease payments for which the Company is the lessee.\nOperating and maintenance expense consists of property related costs including repairs and maintenance costs, roof repair,\nlandscaping, parking lot repair, snow removal, utilities, property insurance costs, security and various other property related\nexpenses.\nGeneral and administrative expense includes employee-related expenses (including salaries, bonuses, equity awards, benefits,\nseverance costs and payroll taxes), professional fees, office rent, travel and entertainment costs and other company-specific\nexpenses.\nNet income available to the Company’s common shareholders was $818.6 million for the year ended December 31, 2021, as\ncompared to $975.4 million for the comparable period in 2020. On a diluted per share basis, net income available to the\nCompany’s common shareholders for the year ended December 31, 2021, was $1.60 as compared to $2.25 for the comparable\nperiod in 2020. For additional disclosure, see Footnote 27 of the Notes to Consolidated Financial Statements included in this\nForm 10-K.\nThe following describes the changes of certain line items included on the Company’s Consolidated Statements of Income,\nthat the Company believes changed significantly and affected Net income available to the Company’s common shareholders\nduring the year ended December 31, 2021, as compared to the corresponding period in 2020:\nRevenue from rental properties, net –\nThe increase in Revenues from rental properties, net of $304.8 million is primarily from (i) an increase in revenues of\n$197.6 million due to properties acquired, primarily resulting from the Merger, (ii) a net decrease in credit losses from tenants\nof $86.8 million primarily due to increased collections, (iii) an increase in net straight-line rental income of $28.5 million\nprimarily due to a decrease in reserves, increase in leasing a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000301_segments",
      "report_id": "ID_000301",
      "company_name": "Kimco Realty",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "The Company operates as a Real Estate Investment Trust (“REIT”) and is engaged principally in the ownership,\nmanagement, development and operation of open-air shopping centers, which are anchored primarily by grocery stores,\noff-price retailers, discounters or service-oriented tenants. Additionally, the Company provides complementary services\nthat capitalize on the Company’s established retail real estate expertise. The Company evaluates performance on a\nproperty specific or transactional basis and does not distinguish its principal business or group its operations on a\ngeographical basis for purposes of measuring performance. Accordingly, the Company believes it has a single reportable\nsegment for disclosure purposes in accordance with accounting principles generally accepted in the United States of\nAmerica (\"GAAP\").",
      "golden_context": "Page 76:\n\ness and Organization\nThe Company operates as a Real Estate Investment Trust (“REIT”) and is engaged principally in the ownership,\nmanagement, development and operation of open-air shopping centers, which are anchored primarily by grocery stores,\noff-price retailers, discounters or service-oriented tenants. Additionally, the Company provides complementary services\nthat capitalize on the Company’s established retail real estate expertise. The Company evaluates performance on a\nproperty specific or transactional basis and does not distinguish its principal business or group its operations on a\ngeographical basis for purposes of measuring performance. Accordingly, the Company believes it has a single reportable\nsegment for disclosure purposes in accordance with accounting principles generally accepted in the United States of\nAmerica (\"GAAP\").\nThe Company has elected to be taxed as a REIT for federal income tax purposes under the Internal Revenue Code of\n1986, as amended (the \"Code\"). The Company is organized and operates in a manner that enables it to qualify as a REIT\nunder the Code.\nWeingarten Merger\nOn August 3, 2021, Weingarten Realty Investors (“Weingarten”) merged with and into the Company, with the Company\ncontinuing as the surviving public company (the “Merger”), pursuant to the definitive merger agreement (the “Merger\nAgreement”) between the Company and Weingarten entered into on April 15, 2021. Under the terms of the Merger\nAgreement, each Weingarten common share was entitled to 1.408 newly issued shares of the Company’s common stock\nplus $2.89 in cash, subject to certain adjustments specified in the Merger Agreement.\nOn July 15, 2021, Weingarten’s Board of Trust Managers declared a special cash distribution of $0.69 per Weingarten\ncommon share (the “Special Distribution”) paid on August 2, 2021 to shareholders of record on July 28, 2021. The\nSpecial Distribution was paid in connection with the Merger and to satisfy REIT taxable income distribution\nrequirements. Under the terms of the Merger Agreement, Weingarten’s payment of the Special Distribution adjusted the\ncash consideration paid by the Company at the closing of the Merger from $2.89 per Weingarten common share to $2.20\nper Weingarten common share and had no impact on the payment of the common share consideration of 1.408 newly\nissued shares of Company common stock for each Weingarten common share owned immediately prior to the effective\ntime of the Merger. During the year ended December 31, 2021, the Company incurred merger related expenses of $50.2\nmillion associated with the Merger. These charges are primarily comprised of severance, professional fees and legal fees.\nSee Footnote 2 of the Company’s Consolidated Financial Statements for further details.\nCoronavirus Disease 2019 (“COVID-19”) Pandemic\nThe COVID-19 pandemic has resulted in a widespread health crisis that has adversely affected businesses, economies,\nand financial markets worldwide and has caused significant volatility in U.S. and international debt and equity markets.\nThe impact of COVID-19 on the retail industry for both landlords and tenants has been wide ranging, including, but not\nlimited to, the temporary closures of many businesses, \"shelter in place\" orders, social distancing guidelines and other\ngovernmental, business and individual actions taken in response to the COVID-19 pandemic. There has also been reduced\nconsumer spending due to job ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_cash_flow",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 861114k, investing: -63217k, financing: -982731k",
      "golden_context": "Page 46:\n\nompany’s capital resources include accessing the public debt and equity capital markets, unsecured term loans, mortgages\nand construction loan financing, marketable securities (including 28.3 million shares of ACI common stock held by the Company,\nwhich had a value of $587.7 million at December 31, 2022 and are subject to certain contractual lock-up provisions that expire\nin May 2023) and immediate access to an unsecured revolving credit facility (the “Credit Facility”) with bank commitments of\n$2.0 billion which can be increased to $2.75 billion through an accordion feature.\nThe Company’s cash flow activities are summarized as follows (in thousands):\nYear Ended December 31,\n2022 2021\nCash, cash equivalents and restricted cash, beginning of year $ 334,663 $ 293,188\nNet cash flow provided by operating activities 861,114 618,875\nNet cash flow used for investing activities Net cash flow used for financing activities (63,217 ) (982,731 ) (476,259 )\n(101,141 )\nNet change in cash, cash equivalents and restricted cash (184,834 ) 41,475\nCash, cash equivalents and restricted cash, end of year $ 149,829 $ 334,663\nOperating Activities\nThe Company anticipates that cash on hand, net cash flow provided by operating activities, borrowings under its Credit Facility\nand the issuance of equity, public debt, as well as other debt and equity alternatives, and the sale of marketable equity securities,\nwill provide the necessary capital required by the Company. The Company will continue to evaluate its capital requirements for\nboth its short-term and long-term liquidity needs, which could be affected by various risks and uncertainties, including, but not\nlimited to, the effects of the current inflationary environment, rising interest rates, and other risks detailed in Part I, Item 1A.\nRisk Factors\nNet cash flows provided by operating activities for the year ended December 31, 2022, was $861.1. million, as compared to\n$618.9 million for the comparable period in 2021. The increase of $242.2 million is primarily attributable to:\n● additional operating cash flow generated by operating properties acquired during 2022 and 2021, including those\nacquired from the Merger;\n● new leasing, expansion and re-tenanting of core portfolio properties;\n● changes in accounts payable and accrued expenses due to timing of receipts and payments; and\n● nonrecurring costs incurred in connection with the Merger during 2021, partially offset by\n● changes in operating assets and liabilities due to timing of receipts and payments;\n● a decrease in distributions from the Company’s joint ventures programs due to the sale of properties within the\nventures; and\n● the disposition of operating properties in 2022 and 2021.\nInvesting Activities\nNet cash flows used for investing activities was $63.2 million for 2022, as compared to $476.3 million for 2021.\nInvesting activities during 2022 consisted primarily of:\nCash inflows:\n● $302.5 million in proceeds from the sale of marketable securities, primarily due to the sale of 11.5 million shares\nof ACI;\n● $184.3 million in proceeds from the sale of nine consolidated properties and 13 parcels;\n● $68.4 million in reimbursements of investments in and advances to real estate joint ventures and other\ninvestments primarily due to the sale of properties within the investments;\n● $60.3 million in collection of mortgage",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_company_type",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Corporation and LLC",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission file number 1-10899 (Kimco Realty Corporation)\nCommission file number 333-269102-01 (Kimco Realty OP, LLC)\nKIMCO REALTY CORPORATION\nKIMCO REALTY OP, LLC\n(Exact name of registrant as specified in its charter)\nMaryland (Kimco Realty Corporation)\nDelaware (Kimco Realty OP, LLC)\n13-2744380\n92-1489725\n(State or other jurisdiction of incorporation or organization) 500 North Broadway, Suite 201, Jericho, NY 11753\n(Address of principal executive offices) (Zip Code)\n(516) 869-9000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nKimco Realty Corporation\nTrading Symbol(s) (I.R.S. Employer Identification No.)\nTitle of each class Name of each exchange on which registered\nKIM New York Stock Exchange\nKIMprL Common Stock, par value $.01 per share. Depositary Shares, each representing one-thousandth of a share of 5.125% Class L\nCumulative Redeemable, Preferred Stock, $1.00 par value per share. Trading Symbol(s) New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 5.250% Class M\nCumulative Redeemable Preferred Stock, $1.00 par value per share. KIMprM New York Stock Exchange\nKimco Realty OP, LLC\nTitle of each class Name of each exchange on which registered\nNone N/A N/A\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nKimco Realty Corporation Yes ☐ No ☑ Kimco Realty OP, LLC Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days.\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2\nof the Exchange Act.\nKimco Realty Corporation:\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_key_financials",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "FFO was 976.4m, 1.58 FFO per diluted share. same-property NOI grew 4.4%.",
      "golden_context": "Page 3:\n\nDear Fellow Stockholders and Associates:\nIn a year where exceptionally strong retailer demand\nprevailed over rising interest rates and uncertainty\naround consumer health, our team produced some\nof the best leasing results in the company’s history.\nFunds from Operations (FFO) for the full year 2022 was\n$976.4 million, or $1.58 per diluted share, compared\nto $706.8 million, or $1.38 per diluted share, for the\nfull year 2021. We leased over 11.5 million square feet\nin 2022 – our highest level on record. With nearly 90\npercent of our COVID inventory now recovered, pro-\nrata occupancy rose 130 basis points for the year, to\n95.7 percent, representing the highest year-over-year\noccupancy increase in the past 15 years, and bringing\nus just 70 basis points shy of our all-time high occu-\npancy. Anchor occupancy rose to 98.0 percent, with\nsmall shop occupancy rising 230 basis points year-\nover-year to 90.0 percent. Combined pro-rata cash\nleasing spreads were a positive 7.6 percent in 2022,\nwith spreads on new leases reaching an impressive\n21.2 percent for the year. Same-property NOI grew 4.4\npercent for the full year, driven in large part by higher\nminimum rents. A 260-basis-point spread between\nleased and economic occupancy represents significant\nopportunity for growth heading into 2023.\nOur operating fundamentals remain exceptionally strong.\nLimited new supply, record high tenant retention levels,\nand robust retailer demand have made this one of the\nbest leasing environments in our memory. Retailers\nacross categories continue to prioritize our portfolio\nof open-air, grocery-anchored centers and mixed-use\nassets positioned in first-ring suburbs of major metro\nmarkets. The work-from-home and suburbanization\ntrends born out of the COVID-19 pandemic have per-\nsisted, and the pandemic and subsequent recovery also\nhelped to settle the e-commerce versus brick-and-mor-\ntar debate once and for all – it’s the combination of the\ntwo that is the sweet spot for successful retailers. The\ne-commerce powerhouses are opening physical stores\nand investing in existing stores to maximize profitability,\nconnect more deeply with their customers, and mas-\nter last-mile distribution fulfillment. And the last-mile,\ngrocery-anchored center, at the cross section of conve-\nnience and value, is resonating with today’s consumer.\nLimited new supply, record high\ntenant retention levels, and\nrobust retailer demand have\nmade this one of the best leasing\nenvironments in our memory.\nWhile we expect leasing velocity and tenant retention\nto continue at elevated levels, we are mindful of the\nclouds on the horizon in 2023 as the inflationary envi-\nronment persists and the threat of recession looms.\nWe are both vigilant and proactive in monitoring the\nhealth of our tenants, and while our size and diver-\nsification minimize our exposure to weaker credit,\nwe are focused on anticipating changes and turning\nthem into opportunities. “Leasing, leasing, leasing”\nwill continue to be our mantra in 2023, and with our\nbalance sheet and liquidity position in top shape, we\nare poised to take advantage of dislocation and any\nresulting opportunities that may arise.\nP",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_revenue",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1727684k",
      "golden_context": "Page 70:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenues\nRevenues from rental properties, net $ 1,710,848 $ 1,349,702 $ 1,044,888\nManagement and other fee income 16,836 14,883 13,005\nTotal revenues 1,727,684 1,364,585 1,057,893\nOperating expenses\nRent Real estate taxes (224,729 ) (181,256 ) (157,661 )\n(290,367 ) (119,534 ) (15,811 ) (13,773 ) (11,270 )\nOperating and maintenance (222,882 ) (174,038 )\nGeneral and administrative (104,121 ) (93,217 )\nImpairment charges (21,958 ) (3,597 ) (6,624 )\nMerger charges - (50,191 ) -\nDepreciation and amortization (505,000 ) (395,320 ) (288,955 )\nTotal operating expenses (1,177,399 ) (971,140 ) (731,765 )\nGain on sale of properties 15,179 30,841 6,484\nOperating income 565,464 424,286 332,612\nOther income/(expense)\nOther income, net 28,829 19,810 4,119\n(Loss)/gain on marketable securities, net Gain on sale of cost method investment (315,508 ) 505,163 - - 594,753\n190,832\nInterest expense (226,823 ) (204,133 ) (186,904 )\nEarly extinguishment of debt charges (7,658 ) - (7,538 )\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net 44,304 745,126 927,874\nProvision for income taxes, net (56,654 ) (3,380 ) (978 )\nEquity in income of joint ventures, net Equity in income of other investments, net 109,481 17,403 84,778 23,172 47,353\n28,628\nNet income 114,534 849,696 1,002,877\nNet loss/(income) attributable to noncontrolling interests 11,442 (5,637 ) (2,044 )\nNet income attributable to the Company 125,976 844,059 1,000,833\nPreferred dividends (25,218 ) (25,416 ) (25,416 )\nNet income available to the Company's common shareholders $ 100,758 $ 818,643 $ 975,417\nPer common share:\nNet income available to the Company's common shareholders:\n-Basic $ 0.16 $ 1.61 $ 2.26\n-Diluted $ 0.16 $ 1.60 $ 2.25\nWeighted average shares:\n-Basic 615,528 506,248 429,950\n-Diluted 617,858 511,385 431,633\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_revenue_growth",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1727684k, prior year 1364585k",
      "golden_context": "Page 70:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2022 2021 2020\nRevenues\nRevenues from rental properties, net $ 1,710,848 $ 1,349,702 $ 1,044,888\nManagement and other fee income 16,836 14,883 13,005\nTotal revenues 1,727,684 1,364,585 1,057,893\nOperating expenses\nRent Real estate taxes (224,729 ) (181,256 ) (157,661 )\n(290,367 ) (119,534 ) (15,811 ) (13,773 ) (11,270 )\nOperating and maintenance (222,882 ) (174,038 )\nGeneral and administrative (104,121 ) (93,217 )\nImpairment charges (21,958 ) (3,597 ) (6,624 )\nMerger charges - (50,191 ) -\nDepreciation and amortization (505,000 ) (395,320 ) (288,955 )\nTotal operating expenses (1,177,399 ) (971,140 ) (731,765 )\nGain on sale of properties 15,179 30,841 6,484\nOperating income 565,464 424,286 332,612\nOther income/(expense)\nOther income, net 28,829 19,810 4,119\n(Loss)/gain on marketable securities, net Gain on sale of cost method investment (315,508 ) 505,163 - - 594,753\n190,832\nInterest expense (226,823 ) (204,133 ) (186,904 )\nEarly extinguishment of debt charges (7,658 ) - (7,538 )\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net 44,304 745,126 927,874\nProvision for income taxes, net (56,654 ) (3,380 ) (978 )\nEquity in income of joint ventures, net Equity in income of other investments, net 109,481 17,403 84,778 23,172 47,353\n28,628\nNet income 114,534 849,696 1,002,877\nNet loss/(income) attributable to noncontrolling interests 11,442 (5,637 ) (2,044 )\nNet income attributable to the Company 125,976 844,059 1,000,833\nPreferred dividends (25,218 ) (25,416 ) (25,416 )\nNet income available to the Company's common shareholders $ 100,758 $ 818,643 $ 975,417\nPer common share:\nNet income available to the Company's common shareholders:\n-Basic $ 0.16 $ 1.61 $ 2.26\n-Diluted $ 0.16 $ 1.60 $ 2.25\nWeighted average shares:\n-Basic 615,528 506,248 429,950\n-Diluted 617,858 511,385 431,633\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000302_segments",
      "report_id": "ID_000302",
      "company_name": "Kimco Realty",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 39:\n\nent's Discussion and Analysis of Financial Condition and Results of Operations\nThe following discussion should be read in conjunction with the Consolidated Financial Statements and Notes thereto included\nin this Form 10-K. Historical results and percentage relationships set forth in the Consolidated Statements of Income contained\nin the Consolidated Financial Statements, including trends, should not be taken as indicative of future operations.\nThe Consolidated Financial Statements of the Company include the accounts of the Company, its wholly owned subsidiaries and\nall entities in which the Company has a controlling interest, including where the Company has been determined to be a primary\nbeneficiary of a variable interest entity in accordance with the consolidation guidance of the FASB Accounting Standards\nCodification. The Company applies these provisions to each of its joint venture investments to determine whether the cost, equity\nor consolidation method of accounting is appropriate. The Company evaluates performance on a property specific or transactional\nbasis and does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring\nperformance. Accordingly, the Company believes it has a single reportable segment for disclosure purposes in accordance with\naccounting principles generally accepted in the United States of America (“GAAP”).\nCritical Accounting Estimates\nThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in\ncertain circumstances that affect amounts reported in the accompanying Consolidated Financial Statements and related notes. In\npreparing these financial statements, management has made its best estimates and assumptions that affect the reported amounts\nof assets and liabilities. These estimates are based on, but not limited to, historical results, industry standards and current\neconomic conditions, giving due consideration to materiality. The Company’s significant accounting policies are more fully\ndescribed in Footnote 1 to the Consolidated Financial Statements. The Company is required to make subjective assessments, of\nwhich, the most significant assumptions and estimates relate to the recoverability of trade accounts receivable, depreciable lives,\nvaluation of real estate and intangible assets and liabilities, and valuation of joint venture investments and other investments. The\nCompany’s reported net earnings are directly affected by management’s estimate of impairments. Application of these\nassumptions requires the exercise of judgment as to future uncertainties, and, as a result, actual results could materially differ\nfrom these estimates.\nTrade Accounts Receivable\nThe Company reviews its trade accounts receivable, related to base rents, straight-line rent, expense reimbursements and other\nrevenues for collectability. The Company evaluates the probability of the collection of the lessee’s total accounts receivable,\nincluding the corresponding straight-line rent receivable balance on a lease-by-lease basis. Determining the probability of\ncollection of substantially all lease payments during a lease term requires significant judgment. The Company’s analysis of its\naccounts receivable included (i) customer credit worthiness, (ii) assessment of risk associated with the tenant, and (iii) current\neconomic trends. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected\nrecovery of pre-petition and post-petition bankruptcy claims. The Company includes provision for doubtful accounts in Revenues\nfrom rental properties, net. If a lessee’s accounts receivable balance is considered uncollectible, the Company will write-off the\nreceivable balances associated with the lease and will only recognize lease income on a cash basis. In addition to the lease-\nspecific collectability assessment, the analysis also recognizes a general reserve, as a reduction to Revenues from rental\nproperties, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company’s\nhistorical and current collection experience and the potential for settlement of arrears. Although the Company estimates\nuncollectible receivables and provides for them through charges against Revenues from rental properties, actual results may\ndiffer from those estimates. For example, in the event that the Company’s collectability determinations are not accurate, and we\nare required to write off additional receivables equaling 1% of the outstanding accounts receivable balance at December 31,\n2022, the Company’s rental income and net income would decrease by $3.0 million for the year ended December 31, 2022. If\nthe Compan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_cash_flow",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1071607k, investing: -136983k, financing: -300696",
      "golden_context": "Page 51:\n\nThe decrease in Equity in income of other investments, net of $6.7 million is primarily due to higher profit participation resulting\nfrom the sale of properties within various investments during 2022 as compared to 2023.\nNet (income)/loss attributable to noncontrolling interests –\nThe change in Net (income)/loss attributable to noncontrolling interests of $23.1 million is primarily due to (i) lower impairment\ncharges of $16.4 million relating to properties within consolidated joint ventures recognized during 2022, and (ii) an increase in\nincome from properties acquired within consolidated joint ventures during 2022.\nComparison of the years ended December 31, 2022 and 2021\nInformation pertaining to fiscal year 2021 was included in the Company’s Annual Report on Form 10-K for the year ended\nDecember 31, 2022 under Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of\nOperations,” which was filed with the SEC on February 24, 2023.\nLiquidity and Capital Resources\nThe Company’s capital resources include accessing the public debt and equity capital markets, unsecured term loans, mortgages\nand construction loan financing, marketable securities (including 14.2 million shares of ACI common stock held by the Company,\nsee Footnote 28 of the Notes to Consolidated Financial Statements included in this Form 10-K) and immediate access to an\nunsecured revolving credit facility (the “Credit Facility”) with bank commitments of $2.0 billion, which can be increased to\n$2.75 billion through an accordion feature.\nThe Company’s cash flow activities are summarized as follows (in thousands):\nYear Ended December 31,\n2023 2022\nCash, cash equivalents and restricted cash, beginning of year $ 149,829 $ 334,663\nNet cash flow provided by operating activities 1,071,607 861,114\nNet cash flow used for investing activities Net cash flow used for financing activities (136,983) (300,696) (63,217)\n(982,731)\nNet change in cash, cash equivalents and restricted cash 633,928 (184,834)\nCash, cash equivalents and restricted cash, end of year $ 783,757 $ 149,829\nOperating Activities\nThe Company anticipates that cash on hand, net cash flow provided by operating activities, borrowings under its Credit Facility\nand the issuance of equity, public debt, as well as other debt and equity alternatives, and the sale of marketable equity securities,\nwill provide the necessary capital required by the Company. The Company will continue to evaluate its capital requirements for\nboth its short-term and long-term liquidity needs, which could be affected b",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_company_type",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Corporation and LLC",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10899‐‐‐‐ (Kimco Realty Corporation)\nCommission file number 333-269102-01 (Kimco Realty OP, LLC)\nKIMCO REALTY CORPORATION\nKIMCO REALTY OP, LLC\n(Exact name of registrant as specified in its charter)\n(State or other jurisdiction of incorporation or organization) Maryland (Kimco Realty Corporation)\nDelaware (Kimco Realty OP, LLC)\n500 North Broadway, Suite 201, Jericho, NY 11753\n(Address of principal executive offices) (Zip Code)\n(516) 869-9000\n13-2744380\n92-1489725\n(I.R.S. Employer Identification No.)\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nKimco Realty Corporation\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share. KIM New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 5.125% Class L Cumulative\nRedeemable Preferred Stock, $1.00 par value per share. KIMprL New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 5.250% Class M Cumulative\nRedeemable Preferred Stock, $1.00 par value per share. KIMprM New York Stock Exchange\nDepositary Shares, each representing one-thousandth of a share of 7.250% Class N Cumulative\nConvertible Preferred Stock, $1.00 par value per share. KIMprN New York Stock Exchange\nKimco Realty OP, LLC\nTitle of each class Trading Symbol(s)\nName of each exchange on\nwhich registered\nNone N/A N/A\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nKimco Realty Corporation Yes ☐ No ☑ Kimco Realty OP, LLC Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nKimco Realty Corporation Yes ☑ No ☐ Kimco Realty OP, LLC Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nKimco Realty Corporation:\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nKimco Realty OP, LLC:\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☑\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act.\nKimco Realty Corporation ☐ Kimco Realty OP, LLC ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\nKimco Realty Corporation ☑ Kimco Realty OP, LLC ☐\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error\nto previously issued financial statements.\nKimco Realty Corporation ☐ Kimco Realty OP, LLC ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive\nofficers during the relevant recovery period pursuant to §240.10D-1(b).\nKimco Realty Corporation ☐ Kimco Realty OP, LLC ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\nKimco Realty Corporation Yes ☐ No ☑ Kimco Realty OP, LLC Yes ☐ No ☑\nThe aggregate market value of the voting and non-voting common equity held by non-affiliates of Kimco Realty Corporation was approximately $12.0 billion based upon the closing price on\nthe New York Stock Exchange for such equity on June 30, 2023.\n(APPLICABLE ONLY TO CORPORATE REGISTRANTS)\nIndicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.\nAs of February 9, 2024, Kimco Realty Corporation had 672,904,480 shares of common stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPart III incorporates certain information by reference to the Kimco Realty Corporation's definitive proxy statement to be filed with respect to the Annual Meeting of Stockholders expected to\nbe held on May 7, 2024.\nIndex to Exhibits begins on page 53.\nKIMCO REALTY CORPORATION",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_key_financials",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income available to Kimco's common shareholders per diluted share 1.02. FFO 970m.",
      "golden_context": "Page 3:\n\nDear Fellow Stockholders and Associates,\n2023 was a successful year for Kimco, highlighted by\nexceptional leasing achievements amidst an ongoing\nclimate of economic uncertainty. Our performance\nunderscores the fundamental strength, resiliency, and\nappeal of our high-quality grocery-anchored, open-air\nshopping center and mixed-used portfolio in all stages\nof economic cycles.\nOperational Excellence\nNet income available to Kimco’s common sharehold-\ners per diluted share was $1.02 for 2023 compared to\n$0.16 in 2022. The year-over-year increase included\na $337 million benefit from mark-to-market gains on\nmarketable securities, net, generated mostly from an\nincrease in the value of our Albertsons Companies,\nInc. (NYSE: ACI) common stock, and a special cash\ndividend of $194 million received from Albertsons. As\na result of the Albertsons special dividend, we were\npleased to pay a $0.09 per share special dividend to\nKimco common stockholders. Funds from Operations\n(FFO) for the full year 2023 was $970 million, or $1.57\nper diluted share, compared to $976 million, or $1.58\nper diluted share, for 2022.* It’s worth noting that the\ngain from Albertsons stock and the special dividend\nwere excluded from FFO – if included, they would\nhave driven a $0.35 per share positive impact. It’s\nalso worth noting that 2022 was a bit of an anomaly,\nas we benefitted from the post-pandemic recovery\nand receipt of COVID-related deferred rent payments.\nDavidson Commons\nDavidson, North Carolina\nOperationally, we reached new\nheights in square footage leased at\n12 million square feet across 2,000\nleases signed during the year.\nOperationally, we reached new heights in square foot-\nage leased at 12 million square feet across 2,000 leases\nsigned during the year. This included over 3.2 million\nsquare feet in new leases with a positive rent spread of\n30.5% for comparable spaces on a pro-rata basis. The\none million square feet of new leases signed during the\nfourth quarter was our highest quarterly level in over\na decade. Pricing power remained strong, with 24.0%\npro-rata rental rate spreads on new leases in the fourth\nquarter, marking the ninth consecutive quarter with dou-\nble-digit spreads. Included in these record setting figures\nfor 2023 is the re-tenanting of 21 Bed Bath and Beyond\nlocations recaptured from the retailer’s bankruptcy. The\nboxes generated a positive spread of 43% on 18 new\nleases (three leases were assigned).\nOur overall pro-rata portfolio occupancy rate stood at\n96.2% at year-end, a testament to our best-in-class team,\nextensive national retailer relationships, and the appeal\nof our high-quality properties in first-ring suburbs of\nmajor metro markets. The fourth quarter saw our largest\nsequential pro-rata portfolio occupancy gain in more\nthan 15 years, with an increase of 70 basis points. Anchor\ntenant pro-rata occupancy rose by a record 80 basis\npoints from the third quarter to 98.0%, and small shop\npro-rata occupancy reached an all-time high of 91.7%.\nWith a proven ability to attract and retain tenants across\na wide array of retail categories, we head into 2024\nwith a deeper, broader, and more resilient tenant base.\nOur outlook for the future remains positive, given the\nexpectation for continued limited supply and the critical\nrole that brick-and-mortar stores play in the ever-evolv-\ning retail landscape. The 2023 ICSC report, “The Halo\nEffect III,” compellingly illustrates the symbiotic relation-\nship between online and physical channels. According\nto the study, the introduction of a new brick-and-mor-\ntar store generates an online sales increase of nearly\n7% within the trade area, while the closure of a store\nresults in an average sales decline of 11.5%. For emerging\ndirect-to-consumer brands, the effects are even more\npronounced, with a 13.9% surge in online sales around\na new store. These statistics highlight the indispens-\nable contribution of our properties to the omnichannel\nretail experience and reinforce our strategy to invest\nin and enhance our physical retail space, ensuring it\nremains a cornerstone of today’s dynamic, integrated\nretail ecosystem.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_revenue",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1783400k",
      "golden_context": "Page 78:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenues\nRevenues from rental properties, net $ 1,767,057 $ 1,710,848 $ 1,349,702\nManagement and other fee income 16,343 16,836 14,883\nTotal revenues 1,783,400 1,727,684 1,364,585\nOperating expenses\nRent (15,997) (15,811) (13,773)\nReal estate taxes (231,578) (224,729) (181,256)\nOperating and maintenance General and administrative (309,143) (136,807) (290,367) (119,534) Impairment charges (14,043) (21,958) (3,597)\nMerger charges (4,766) - (50,191)\nDepreciation and amortization (507,265) (395,320)\n(222,882)\n(104,121)\n(505,000) Total operating expenses (1,219,599) (1,177,399) (971,140)\nGain on sale of properties 74,976 15,179 30,841\nOperating income 638,777 565,464 424,286\nOther income/(expense)\nSpecial dividend income 194,116 Other income, net 39,960 28,829 19,810\nGain/(loss) on marketable securities, net 21,262 Early extinguishment of debt charges - - -\n(315,508) 505,163\n(7,658) -\nInterest expense (250,201) (226,823) (204,133)\n643,914 44,304 745,126\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net Equity in income of joint ventures, net 72,278 109,481 84,778\nEquity in income of other investments, net 10,709 17,403 23,172\nProvision for income taxes, net (60,952) (56,654) (3,380)\nNet income 665,949 114,534 849,696\nNet (income)/loss attributable to noncontrolling interests (11,676) 11,442 (5,637)\nNet income attributable to the Company 654,273 125,976 844,059\nPreferred dividends (25,021) (25,218) (25,416)\nNet income available to the Company's common shareholders $ 629,252 $ 100,758 $ 818,643\nPer common share:\nNet income available to the Company's common shareholders:\n-Basic $ 1.02 $ 0.16 $ 1.61\n-Diluted $ 1.02 $ 0.16 $ 1.60\nWeighted average shares:\n-Basic 616,947 615,528 506,248\n-Diluted 618,199 617,858 511,385",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_revenue_growth",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1783400k, 1727684k prior year",
      "golden_context": "Page 78:\n\nKIMCO REALTY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF INCOME\n(in thousands, except per share data)\nYear Ended December 31,\n2023 2022 2021\nRevenues\nRevenues from rental properties, net $ 1,767,057 $ 1,710,848 $ 1,349,702\nManagement and other fee income 16,343 16,836 14,883\nTotal revenues 1,783,400 1,727,684 1,364,585\nOperating expenses\nRent (15,997) (15,811) (13,773)\nReal estate taxes (231,578) (224,729) (181,256)\nOperating and maintenance General and administrative (309,143) (136,807) (290,367) (119,534) Impairment charges (14,043) (21,958) (3,597)\nMerger charges (4,766) - (50,191)\nDepreciation and amortization (507,265) (395,320)\n(222,882)\n(104,121)\n(505,000) Total operating expenses (1,219,599) (1,177,399) (971,140)\nGain on sale of properties 74,976 15,179 30,841\nOperating income 638,777 565,464 424,286\nOther income/(expense)\nSpecial dividend income 194,116 Other income, net 39,960 28,829 19,810\nGain/(loss) on marketable securities, net 21,262 Early extinguishment of debt charges - - -\n(315,508) 505,163\n(7,658) -\nInterest expense (250,201) (226,823) (204,133)\n643,914 44,304 745,126\nIncome before income taxes, net, equity in income of joint ventures, net,\nand equity in income from other investments, net Equity in income of joint ventures, net 72,278 109,481 84,778\nEquity in income of other investments, net 10,709 17,403 23,172\nProvision for income taxes, net (60,952) (56,654) (3,380)\nNet income 665,949 114,534 849,696\nNet (income)/loss attributable to noncontrolling interests (11,676) 11,442 (5,637)\nNet income attributable to the Company 654,273 125,976 844,059\nPreferred dividends (25,021) (25,218) (25,416)\nNet income available to the Company's common shareholders $ 629,252 $ 100,758 $ 818,643\nPer common share:\nNet income available to the Company's common shareholders:\n-Basic $ 1.02 $ 0.16 $ 1.61\n-Diluted $ 1.02 $ 0.16 $ 1.60\nWeighted average shares:\n-Basic 616,947 615,528 506,248\n-Diluted 618,199 617,858 511,385",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000303_segments",
      "report_id": "ID_000303",
      "company_name": "Kimco Realty",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Single reportable segment",
      "golden_context": "Page 44:\n\nREIT Equity REITs $ 100 $ 126 $ 116 $ 166 $ 126 $ 143\nItem 6. Reserved\nItem 7. Management's Discussion and Analysis of Financial Condition and Results of Operations\nThe following discussion should be read in conjunction with the Consolidated Financial Statements and Notes thereto included\nin this Form 10-K. Historical results and percentage relationships set forth in the Consolidated Statements of Income contained\nin the Consolidated Financial Statements, including trends, should not be taken as indicative of future operations.\nThe Consolidated Financial Statements of the Company include the accounts of the Company, its wholly owned subsidiaries and\nall entities in which the Company has a controlling interest, including where the Company has been determined to be a primary\nbeneficiary of a variable interest entity in accordance with the consolidation guidance of the FASB Accounting Standards\nCodification. The Company applies these provisions to each of its joint venture investments to determine whether the cost, equity\nor consolidation method of accounting is appropriate. The Company evaluates performance on a property specific or transactional\nbasis and does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring\nperformance. Accordingly, the Company believes it has a single reportable segment for disclosure purposes in accordance with\naccounting principles generally accepted in the United States of America (“GAAP”).\n30\nCritical Accounting Estimates\nThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in\ncertain circumstances that affect amounts reported in the accompanying Consolidated Financial Statements and related notes. In\npreparing these financial statements, management has made its best estimates and assumptions that affect the reported amounts\nof assets and liabilities. These estimates are based on, but not limited to, historical results, industry standards and current\neconomic conditions, giving due consideration to materiality. The Company’s significant accounting policies are more fully\ndescribed in Footnote 1 of the Notes to Consolidated Financial Statements included in this Form 10-K. The Company is required\nto make subjective assessments, of which, the most significant assumptions and estimates relate to the recoverability of trade\naccounts receivable, depreciable lives, valuation of real estate and intangible assets and liabilities, and valuation of joint venture\ninvestments and other investments. The Company’s reported net earnings are directly affected by management’s estimate of\nimpairments. Application of these assumptions requires the exercise of judgment as to future uncertainties, and, as a result, actual\nresults could materially differ from these estimates.\nTrade Accounts Receiva",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_cash_flow",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 868494k, investing: -36247k, financing: -613546k",
      "golden_context": "Page 56:\n\nConsolidated Statements of Cash Flows\nIn thousands\nYears ended December 31, Operating Activities:\nNet earnings A Adjustments to reconcile net earnings to net cash from operating activities:\nProvisions for losses (recoveries) on accounts receivable Deferred income tax (benefit) expense Stock compensation expense Depreciation and amortization Other, net Changes in operating assets and liabilities:\n(Increase) decrease in accounts receivable Increase (decrease) in accounts payable and accrued expenses (Increase) decrease in deferred contract costs Increase (decrease) in contract liabilities Increase (decrease) in income taxes payable, net (Increase) decrease in other, net Net cash from operating activities Investing Activities:\nPurchase of property and equipment Other, net Net cash from investing activities Financing Activities:\nProceeds from borrowing on lines of credit, net Proceeds from issuance of common stock Repurchases of common stock Dividends paid Payments for taxes related to net share settlement of equity awards Distribution to noncontrolling interest Net cash from financing activities Effect of exchange rate changes on cash and cash equivalents Change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Cash Flow Information:\nCash paid for f f income taxes See accompanying notes to consolidated financial statements.\nF-8\n2021 2020 2019\n$ 1,418,845 $ 698,214 $ 592,016\n7,540 5,584 (1 )\n(3,690 ) 8,371 69,385 62,498 4,482\n61,543\n51,312 56,959 3,790 3,960 (1,869,827 ) 1,041,805 (700,273 ) 803,837 57,867 (12,097 ) 868,494 (36,247 ) (47,543 (398 ) (36,645 ) 7,512 106,105 (514,594 ) (195,766 ) (15,172 ) (1,631 )_x0097_ _x0097_\n(613,546 ) (17,402 ) 50,950\n941\n(647,193 ) 265,919\n430,452 (182,233 )\n(189,447 ) 28,811\n217,699 (37,097 )\n8,502 (18,472 )\n(630 ) 4,830\n654,969 771,689\n) (47,022 )\n1,007\n) (46,015 )\n246\n148,245\n(331,494 19,852 1,516 (46,027 43 ) (389,060 )\n) (170,553 )\n(10,566 ) (6,674 )\n200,901 1,527,791 1,230,491 186,345 (332,387 (174,929 (1,122 )\n306,756\n923,735\n) (417,796 )\n297,300 $ 1,728,692 $ 1,527,791 $ 1,230,491\n$ 442,549 $ 239,849 $ 222,083",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_company_type",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 0-13468\nEXPEDITORS INTERNATIONAL OF WASHINGTON, INC.\n(Exact name of registrant as specified in its charter)\nWashington 91-1069248\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n1015 Third Avenue, Seattle, Washington 98104\n(Address of principal executive offices) (Zip Code)\n(206) 674-3400\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) g y ( ) g g\nName of each exchange on which registered\nCommon Stock, par value $.01 per share EXPD NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,\n” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s Common Stock held by non-affiliates of the registrant, based upon the closing price as of the last\nbusiness day of the most recently completed second fiscal quarter ended June 30, 2021, was approximately $21,309,503,040.\nAt March 8, 2022, the number of shares outstanding of registrant’s Common Stock was 167,398,064.\nDOCUMENTS INCORPORATED BY REFERENCE\nthe Registrant’s Annual Meeting of Shareholders to be held on May 3, 2022 are incorporated by\nPortions of the definitive proxy statement for f reference into Part III of this Form 10-K.\nAuditor Firm ID: 185 Auditor Name: KPMG, LLP Auditor Location: Seattle, WA, USA",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_key_financials",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues increased 72%, net earnings to shareholders increased 103%",
      "golden_context": "Page 30:\n\nHighlights from 2021\nIn 2021, the COVID-19 pandemic and resulting disruptions on supply chains continued to significantly affect our business operations and\nfinancial results, and we expect these disruptive conditions to continue at least through the first half of 2022. The significant impacts are\ndiscussed under Item 1 Business and below within Results of operations. The COVID-19 pandemic may continue to impact our business\noperations and financial operating results, and there is uncertainty in the nature and degree of its continued effects over time. Refer to Risk\nFactors (Part I, Item 1A) for a discussion of these factors and other risks.\n• Revenues and directly related operating expenses increased 72% and 81%, respectively, from strong growth in all services\npropelled by high average rates and growth in volumes transacted.\n• Severe imbalances between carrier available capacity and customer demand resulted in record high average buy and sell rates\nresulting in higher revenues, operating expenses and need for working capital to support the growth.\n• Significant congestion at ocean ports and airport gateways from continued shortages in equipment, labor and warehousing space at\ndestinations and disruptions from COVID-19 precautionary measures, resulted in longer transportation times and created\nchallenging conditions to find availability to meet the growing customer demand.\n• Salaries and related expenses increased 34% as a result of higher incentive compensation from higher operating income.\n• Net earnings to shareholders increased 103% and we returned $710 million to shareholders in common stock repurchases and\ndividends.\nOn February 20, 2022, we determined that our company was the subject of a targeted cyber-attack. Upon discovering the incident, we shut\ndown most of our operating systems globally to manage the safety of our entire global systems environment. We had limited ability to conduct\noperations during this time, including but not limited to arranging for shipments of freight or managing customs and distribution activities for our\ncustomers’ shipments. The situation is evolving and while the Company has partially resumed operations, at this time the Company is unable to\nestimate when it will resume full operations. We are incurring expenses relating to the cyber-attack to investigate and remediate this matter and\nexpect to continue to incur expenses of this nature in the future. The Company expects that the impact of the shutdown and the ongoing\nimpacts of the cyber-attack will have a material adverse impact on its business, revenues, expenses, results of operations, cash flows and\nreputation. At this early stage, the Company is unable to estimate the ultimate direct and indirect financial impacts of this cyber-attack.\nIndustry trends, trade conditions and competition\nWe operate in over 60 countries in the competitive global logistics industry and our activities are closely tied to the global economy.\nInternational trade is influenced by many factors, including economic and political conditions in the United States and abroad, currency\nexchange rates, laws and policies relating to tariffs, trade restrictions, foreign investment and taxation. Periodically, governments consider a\nvariety of changes to tariffs and trade restrictions and accords. Currently, the United States and China have significantly increased tariffs on\ncertain imports and are engaged in trade negotiations and changes to export regulations and tariffs. In 2020, the United Kingdom and the\nEuropean Union negotiated the terms of the United Kingdom’s exit from the European Union (Brexit), which were effective on January 1, 2021.\nWe cannot predict the outcome of changes in tariffs, or interpretations, and trade restrictions and accords and the effects they will have on our\nbusiness. As governments implement higher tariffs on imports, manufacturers may accelerate, to the extent possible, shipments to avoid higher\ntariffs and, over time, may shift manufacturing to other countries. Doing business in foreign locations also subjects us to a variety of risks and\nconsiderations not normally encountered by domestic enterprises. In addition to being influenced by governmental policies and inter-\ngovernmental disputes concerning international trade, our business may also be negatively affected by political developments and changes in\ngovernment personnel or policies in the United States and other countries, as well as economic turbulence, political unrest and security\nconcerns in the nations and on the trade shipping lanes in which we conduct business and the future impact that these events may have on\ninternational trade, oil prices and security costs.\nOur ability to provide services to our customers is highly dependent on good working relationships with a variety of entities, including airlines;\nocean carrier lines and ground transportation providers, as well as governmental agencies. We select and engage with best-in-class,\ncompliance-focused, efficiently run, growth-oriented partners, based upon defined value elements and are intentional in our relationship and\nperformance management activity, reinforcing success by awarding service providers who consistently achieve at the highest levels with\nadditional business. We",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_revenue",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "16523517k",
      "golden_context": "Page 53:\n\nonsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, Revenues:\nA Airfreight services Ocean freight and ocean services Customs brokerage and other services Total revenues Operating Expenses:\nA Airfreight services Ocean freight and ocean services Customs brokerage and other services Salaries and related costs Rent and occupancy costs Depreciation and amortization Selling and promotion Other Total operating expenses Operating income Other Income (Expense):\nInterest income Other, net Other income, net Earnings before income taxes Income tax expense Net earnings Less net earnings attributable to the noncontrolling interest Net earnings attributable to shareholders Diluted earnings attributable to shareholders per share Basic earnings attributable to shareholders per share Weighted average diluted shares outstanding Weighted average basic shares outstanding See accompanying notes to consolidated financial statements.\n2021 $ 6,771,402 5,545,818 4,206,297 16,523,517 5,067,380 4,364,160 2,626,615 2,062,351 186,287 51,312 16,026 240,060 14,614,191 1,909,326 8,807 6,483 15,290 1,924,616 505,771 1,418,845 3,353 $ 1,415,492 $ 8.27 $ 8.37 171,250 169,145 F-5\n2020 $ 4,274,026 2,342,344 2,968,023 9,584,393 3,168,808 1,751,850 1,736,044 1,538,104 169,863 56,959 18,436 203,892 8,643,956 940,437 10,415 5,712 16,127 956,564 258,350 698,214 2,074 $ 696,140 $ 4.07 $ 4.14 170,896 168,333 2019\n$ 2,740,938\n2,188,149\n3,013,330\n7,942,417\n1,955,054\n1,584,240\n1,766,655\n1,422,315\n166,182\n50,950\n44,002\n186,327\n7,175,725\n766,692\n22,803\n6,299\n29,102\n795,794\n203,778\n592,016\n1,621\n$ 590,395\n$ 3.39\n$ 3.45\n174,209\n170,899",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_revenue_growth",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "72% increase",
      "golden_context": "Page 30:\n\nHighlights from 2021\nIn 2021, the COVID-19 pandemic and resulting disruptions on supply chains continued to significantly affect our business operations and\nfinancial results, and we expect these disruptive conditions to continue at least through the first half of 2022. The significant impacts are\ndiscussed under Item 1 Business and below within Results of operations. The COVID-19 pandemic may continue to impact our business\noperations and financial operating results, and there is uncertainty in the nature and degree of its continued effects over time. Refer to Risk\nFactors (Part I, Item 1A) for a discussion of these factors and other risks.\n• Revenues and directly related operating expenses increased 72% and 81%, respectively, from strong growth in all services\npropelled by high average rates and growth in volumes transacted.\n• Severe imbalances between carrier available capacity and customer demand resulted in record high average buy and sell rates\nresulting in higher revenues, operating expenses and need for working capital to support the growth.\n• Significant congestion at ocean ports and airport gateways from continued shortages in equipment, labor and warehousing space at\ndestinations and disruptions from COVID-19 precautionary measures, resulted in longer transportation times and created\nchallenging conditions to find availability to meet the growing customer demand.\n• Salaries and related expenses increased 34% as a result of higher incentive compensation from higher operating income.\n• Net earnings to shareholders increased 103% and we returned $710 million to shareholders in common stock repurchases and\ndividends.\nOn February 20, 2022, we determined that our company was the subject of a targeted cyber-attack. Upon discovering the incident, we shut\ndown most of our operating systems globally to manage the safety of our entire global systems environment. We had limited ability to conduct\noperations during this time, including but not limited to arranging for shipments of freight or managing customs and distribution activities for our\ncustomers’ shipments. The situation is evolving and while the Company has partially resumed operations, at this time the Company is unable to\nestimate when it will resume full operations. We are incurring expenses relating to the cyber-attack to investigate and remediate this matter and\nexpect to continue to incur expenses of this nature in the future. The Company expects that the impact of the shutdown and the ongoing\nimpacts of the cyber-attack will have a material adverse impact on its business, revenues, expenses, results of operations, cash flows and\nreputation. At this early stage, the Company is unable to estimate the ultimate direct and indirect financial impacts of this cyber-attack.\nIndustry trends, trade conditions and competition\nWe operate in over 60 countries in the competitive global logistics industry and our activities are closely tied to the global economy.\nInternational trade is influenced by many factors, including economic and political conditions in the United States and abroad, currency\nexchange rates, laws and policies relating to tariffs, trade restrictions, foreign investment and taxation. Periodically, governments consider a\nvariety of changes to tariffs and trade restrictions and accords. Currently, the United States and China have significantly increased tariffs on\ncertain imports and are engaged in trade negotiations and changes to export regulations and tariffs. In 2020, the United Kingdom and the\nEuropean Union negotiated the terms of the United Kingdom’s exit from the European Union (Brexit), which were effective on January 1, 2021.\nWe cannot predict the outcome of changes in tariffs, or interpretations, and trade restrictions and accords and the effects they will have on our\nbusiness. As governments implement higher tariffs on imports, manufacturers may accelerate, to the extent possible, shipments to avoid higher\ntariffs and, over time, may shift manufacturing to other countries. Doing business in foreign locations also subjects us to a variety of risks and\nconsiderations not normally encountered by domestic enterprises. In addition to being influenced by governmental policies and inter-\ngovernmental disputes concerning international trade, our business may also be negatively affected by political developments and changes in\ngovernment personnel or policies in the United States and other countries, as well as economic turbulence, political unrest and security\nconcerns in the nations and on the trade shipping lanes in which we conduct business and the future impact that these events may have on\ninternational trade, oil prices and security costs.\nOur ability to provide services to our customers is highly dependent on good working relationships with a variety of entities, including airlines;\nocean carrier lines and ground transportation providers, as well as governmental agencies. We select and engage with best-in-class,\ncompliance-focused, efficiently run, growth-oriented partners, based upon defined value elements and are intentional in our relationship and\nperformance management activity, reinforcing success by awarding service providers who consistently achieve at the highest levels with\nadditional business. We",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000304_segments",
      "report_id": "ID_000304",
      "company_name": "Expeditors",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Operates in Americas, North Asia, South Asia, Europe, Middle East, Africa and India",
      "golden_context": "Page 9:\n\nExpeditors has approximately 19,000 employees and provides a complete range of global logistics services to a diversified group of customers\nthat vary in size, industry and geographic location. As opportunities for profitable growth arise, we will continue to open new offices where it\nmakes sense to support existing global customers and serve new local markets. As a knowledge-based global provider of logistics services, we\nhave often concluded over the course of our history that it is better to grow organically rather than by acquisition. When we have made\nacquisitions, it has generally been to obtain technology, increase geographic coverage by acquiring or establishing joint ventures with agents or\nothers within the industry, or gain specialized industry expertise that could be leveraged to benefit our entire network.\nExpeditors, including its majority-owned subsidiaries, is organized functionally in geographic operating segments and operates district offices in\nthe regions identified below. Our district offices are defined by geographic boundaries and have been established in locations where Expeditors\nmaintains unilateral control over operations, and where the existence of the parent-subsidiary relationship is maintained by means other than\nrecord ownership of voting stock.\nExpeditors operates 176 district offices in the following geographic areas of responsibility:\n• Middle East, Africa and India (24",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_cash_flow",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 2129675k, investing: -87714k, financing: -1684540k",
      "golden_context": "Page 60:\n\nConsolidated Statements of Cash Flows\nIn thousands\nYears ended December 31, Operating Activities:\nNet earnings Adjustments to reconcile net earnings to net cash from operating activities:\nProvisions for losses on accounts receivable Deferred income tax (benefit) expense Stock compensation expense Depreciation and amortization Other, net Changes in operating assets and liabilities:\nDecrease (Increase) in accounts receivable (Decrease) increase in accounts payable and accrued expenses Decrease (Increase) in deferred contract costs (Decrease) increase in contract liabilities (Decrease) increase in income taxes payable, net Decrease (increase) in other, net Net cash from operating activities Investing Activities:\nPurchase of property and equipment Other, net Net cash from investing activities Financing Activities:\nProceeds from borrowing on lines of credit Payments from borrowing on lines of credit Proceeds from issuance of common stock Repurchases of common stock Dividends paid Payments for taxes related to net share settlement of equity awards Distribution to noncontrolling interest Net cash from financing activities Effect of exchange rate changes on cash and cash equivalents Change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Cash Flow Information:\nCash paid for income taxes See accompanying notes to consolidated financial statements.\nF-9\n2022 2021 2020\n$ 1,360,605 $ 1,418,845 $ 698,214\n11,050 7,540 5,584\n(33,240) (3,690) 8,371\n64,397 69,385 62,498\n57,338 51,312 56,959\n1,252 3,790 3,960\n1,592,341 (1,869,827) (647,193)\n(798,123) 1,041,805 430,452\n714,960 (700,273) (189,447)\n(798,356) 803,837 217,699\n(55,129) 57,867 8,502\n12,580 (12,097) (630)\n2,129,675 868,494 654,969\n(86,824) (36,247) (47,543)\n(890) (398) 1,516\n(87,714) (36,645) (46,027)\n81,756 10,063 257\n(30,289) (2,551) (214)\n80,980 106,105 186,345\n(1,581,908) (514,594) (332,387)\n(213,799) (195,766) (174,929)\n(19,335) (15,172) (10,566)\n(1,945) (1,631) —\n(1,684,540) (613,546) (331,494)\n(51,982) (17,402) 19,852\n305,439 200,901 297,300\n1,728,692 1,527,791 1,230,491\n$ 2,034,131 $ 1,728,692 $ 1,527,791\n$ 566,533 $ 442,549 $ 239,849",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_company_type",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 0-13468\nEXPEDITORS INTERNATIONAL OF WASHINGTON, INC.\n(Exact name of registrant as specified in its charter)\nWashington 91-1069248\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n1015 Third Avenue, Seattle, Washington 98104\n(Address of principal executive offices) (Zip Code)\n(206) 674-3400\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share EXPD NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s Common Stock held by non-affiliates of the registrant, based upon the closing price as of the last\nbusiness day of the most recently completed second fiscal quarter ended June 30, 2022, was approximately $15,790,525,926.\nAt February 24, 2023, the number of shares outstanding of registrant’s Common Stock was 154,398,044.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the definitive proxy statement for the Registrant’s Annual Meeting of Shareholders to be held on May 2, 2023 are incorporated by\nreference into Part III of this Form 10-K.\nAuditor Firm ID: 185 Auditor Name: KPMG, LLP Auditor Location: Seattle, WA, USA",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_key_financials",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net earnings: 1360605k",
      "golden_context": "Page 60:\n\nConsolidated Statements of Cash Flows\nIn thousands\nYears ended December 31, Operating Activities:\nNet earnings Adjustments to reconcile net earnings to net cash from operating activities:\nProvisions for losses on accounts receivable Deferred income tax (benefit) expense Stock compensation expense Depreciation and amortization Other, net Changes in operating assets and liabilities:\nDecrease (Increase) in accounts receivable (Decrease) increase in accounts payable and accrued expenses Decrease (Increase) in deferred contract costs (Decrease) increase in contract liabilities (Decrease) increase in income taxes payable, net Decrease (increase) in other, net Net cash from operating activities Investing Activities:\nPurchase of property and equipment Other, net Net cash from investing activities Financing Activities:\nProceeds from borrowing on lines of credit Payments from borrowing on lines of credit Proceeds from issuance of common stock Repurchases of common stock Dividends paid Payments for taxes related to net share settlement of equity awards Distribution to noncontrolling interest Net cash from financing activities Effect of exchange rate changes on cash and cash equivalents Change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Cash Flow Information:\nCash paid for income taxes See accompanying notes to consolidated financial statements.\nF-9\n2022 2021 2020\n$ 1,360,605 $ 1,418,845 $ 698,214\n11,050 7,540 5,584\n(33,240) (3,690) 8,371\n64,397 69,385 62,498\n57,338 51,312 56,959\n1,252 3,790 3,960\n1,592,341 (1,869,827) (647,193)\n(798,123) 1,041,805 430,452\n714,960 (700,273) (189,447)\n(798,356) 803,837 217,699\n(55,129) 57,867 8,502\n12,580 (12,097) (630)\n2,129,675 868,494 654,969\n(86,824) (36,247) (47,543)\n(890) (398) 1,516\n(87,714) (36,645) (46,027)\n81,756 10,063 257\n(30,289) (2,551) (214)\n80,980 106,105 186,345\n(1,581,908) (514,594) (332,387)\n(213,799) (195,766) (174,929)\n(19,335) (15,172) (10,566)\n(1,945) (1,631) —\n(1,684,540) (613,546) (331,494)\n(51,982) (17,402) 19,852\n305,439 200,901 297,300\n1,728,692 1,527,791 1,230,491\n$ 2,034,131 $ 1,728,692 $ 1,527,791\n$ 566,533 $ 442,549 $ 239,849",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_revenue",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "17071284k",
      "golden_context": "Page 57:\n\nsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, 2022 2021 2020\nRevenues:\nAirfreight services $ 5,886,886 $ 6,771,402 $ 4,274,026\nOcean freight and ocean services 6,544,559 5,545,818 2,342,344\nCustoms brokerage and other services 4,639,839 4,206,297 2,968,023\nTotal revenues 17,071,284 16,523,517 9,584,393\nOperating Expenses:\nAirfreight services 4,359,726 5,067,380 3,168,808\nOcean freight and ocean services 5,188,066 4,364,160 1,751,850\nCustoms brokerage and other services 3,029,105 2,626,615 1,736,044\nSalaries and related costs 2,056,387 2,062,351 1,538,104\nRent and occupancy costs 209,532 186,287 169,863\nDepreciation and amortization 57,338 51,312 56,959\nSelling and promotion 24,293 16,026 18,436\nOther 322,466 240,060 203,892\nTotal operating expenses 15,246,913 14,614,191 8,643,956\nOperating income 1,824,371 1,909,326 940,437\nOther Income (Expense):\nInterest income 25,554 8,807 10,415\nInterest expense (23,277) (411) (219)\nOther, net 9,243 6,894 5,931\nOther income, net 11,520 15,290 16,127\nEarnings before income taxes 1,835,891 1,924,616 956,564\nIncome tax expense 475,286 505,771 258,350\nNet earnings 1,360,605 1,418,845 698,214\nLess net earnings attributable to the noncontrolling interest 3,206 3,353 2,074\nNet earnings attributable to shareholders $ 1,357,399 $ 1,415,492 $ 696,140\nDiluted earnings attributable to shareholders per share $ 8.26 $ 8.27 $ 4.07\nBasic earnings attributable to shareholders per share $ 8.33 $ 8.37 $ 4.14\nWeighted average diluted shares outstanding 164,427 171,250 170,896\nWeighted average basic shares outstanding 163,010 169,145 168,333\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_revenue_growth",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "17071284k, prior year 16523517k",
      "golden_context": "Page 57:\n\nsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, 2022 2021 2020\nRevenues:\nAirfreight services $ 5,886,886 $ 6,771,402 $ 4,274,026\nOcean freight and ocean services 6,544,559 5,545,818 2,342,344\nCustoms brokerage and other services 4,639,839 4,206,297 2,968,023\nTotal revenues 17,071,284 16,523,517 9,584,393\nOperating Expenses:\nAirfreight services 4,359,726 5,067,380 3,168,808\nOcean freight and ocean services 5,188,066 4,364,160 1,751,850\nCustoms brokerage and other services 3,029,105 2,626,615 1,736,044\nSalaries and related costs 2,056,387 2,062,351 1,538,104\nRent and occupancy costs 209,532 186,287 169,863\nDepreciation and amortization 57,338 51,312 56,959\nSelling and promotion 24,293 16,026 18,436\nOther 322,466 240,060 203,892\nTotal operating expenses 15,246,913 14,614,191 8,643,956\nOperating income 1,824,371 1,909,326 940,437\nOther Income (Expense):\nInterest income 25,554 8,807 10,415\nInterest expense (23,277) (411) (219)\nOther, net 9,243 6,894 5,931\nOther income, net 11,520 15,290 16,127\nEarnings before income taxes 1,835,891 1,924,616 956,564\nIncome tax expense 475,286 505,771 258,350\nNet earnings 1,360,605 1,418,845 698,214\nLess net earnings attributable to the noncontrolling interest 3,206 3,353 2,074\nNet earnings attributable to shareholders $ 1,357,399 $ 1,415,492 $ 696,140\nDiluted earnings attributable to shareholders per share $ 8.26 $ 8.27 $ 4.07\nBasic earnings attributable to shareholders per share $ 8.33 $ 8.37 $ 4.14\nWeighted average diluted shares outstanding 164,427 171,250 170,896\nWeighted average basic shares outstanding 163,010 169,145 168,333\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000305_segments",
      "report_id": "ID_000305",
      "company_name": "Expeditors",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Americas, North Asia, South Asia, Europe, Middle East, Africa and India",
      "golden_context": "Page 9:\n\nExpeditors has approximately 20,000 employees and provides a complete range of global logistics services to a diversified group of\ncustomers that vary in size, industry and geographic location. As opportunities for profitable growth arise, we will continue to open new\noffices where it makes sense to support existing global customers and serve new local markets. As a knowledge-based global provider\nof logistics services, we have often concluded over the course of our history that it is better to grow organically rather than by acquisition.\nWhen we have made acquisitions, it has generally been to obtain technology, increase geographic coverage by acquiring or establishing\njoint ventures with agents or others within the industry, or gain specialized industry expertise that could be leveraged to benefit our\nentire network.\nExpeditors, including its majority-owned subsidiaries, is organized functionally in geographic operating segments and operates district\noffices in the regions identified below. Our district offices are defined by geographic boundaries and have been established in locations\nwhere Expeditors maintains unilateral control over operations, and where the existence of the parent-subsidiary relationship is\nmaintained by means other than record ownership of voting stock.\nExpeditors operates 176 district offices in the following geographic areas of responsibility:\n• Americas (70)\n• North Asia (21)\n• South Asia (16)\n• Europe (45)\n• Middle East, Africa and India (24)\nWe also maintain branch offices, which are aligned with and dependent upon one district office, where practical benefit is gained by\nhaving staff located closer to the customers they are serving. Additionally, we contract with independent agents in locations where we\ndo not have our own offices to provide required services for our existing customers. We have established 36 such relationships\nworldwide.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_cash_flow",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 1053191k, investing: -39433k, financing: -1536565k",
      "golden_context": "Page 63:\n\nConsolidated Statements of Cash Flows\nIn thousands\nYears ended December 31, 2023 2022 2021\nOperating Activities:\nNet earnings $ 751,779 $ 1,360,605 $ 1,418,845\nAdjustments to reconcile net earnings to net cash from operating activities:\nProvisions for losses on accounts receivable 3,943 11,050 7,540\nDeferred income tax benefit (22,916) (33,240) (3,690)\nStock compensation expense 58,399 64,397 69,385\nDepreciation and amortization 67,760 57,338 51,312\nOther, net 8,461 1,252 3,790\nChanges in operating assets and liabilities:\nDecrease (increase) in accounts receivable 573,724 1,592,341 (1,869,827)\n(Decrease) increase in accounts payable and accrued expenses (300,345) (798,123) 1,041,805\nDecrease (increase) in deferred contract costs 36,952 714,960 (700,273)\n(Decrease) increase in contract liabilities (40,076) (798,356) 803,837\n(Decrease) increase in income taxes payable, net (77,298) (55,129) 57,867\n(Increase) decrease in other, net (7,192) 12,580 (12,097)\nNet cash from operating activities 1,053,191 2,129,675 868,494\nInvesting Activities:\nPurchase of property and equipment (39,314) (86,824) (36,247)\nOther, net (119) (890) (398)\nNet cash from investing activities (39,433) (87,714) (36,645)\nFinancing Activities:\nProceeds from borrowing on lines of credit 32,199 81,756 10,063\nPayments on borrowing on lines of credit (38,143) (30,289) (2,551)\nProceeds from issuance of common stock 84,889 80,980 106,105\nRepurchases of common stock (1,392,886) (1,581,908) (514,594)\nDividends paid (202,029) (213,799) (195,766)\nPayments for taxes related to net share settlement of equity awards (19,506) (19,335) (15,172)\nDistribution to noncontrolling interest (1,089) (1,945) (1,631)\nNet cash from financing activities (1,536,565) (1,684,540) (613,546)\nEffect of exchange rate changes on cash and cash equivalents 1,559 (51,982) (17,402)\nChange in cash and cash equivalents (521,248) 305,439 200,901\nCash and cash equivalents at beginning of period 2,034,131 1,728,692 1,527,791\nCash and cash equivalents at end of period $ 1,512,883 $ 2,034,131 $ 1,728,692\nSupplemental Cash Flow Information:\nCash paid for income taxes $ 356,380 $ 566,533 $ 442,549\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_company_type",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-41871\nEXPEDITORS INTERNATIONAL OF WASHINGTON, INC.\n(Exact name of registrant as specified in its charter)\nWashington 91-1069248\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification Number)\n1015 Third Avenue, Seattle, Washington 98104\n(Address of principal executive offices) (Zip Code)\n(206) 674-3400\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share EXPD New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s Common Stock held by non-affiliates of the registrant, based upon the closing price as of the last\nbusiness day of the most recently completed second fiscal quarter ended June 30, 2023, was approximately $17,717,749,906.\nAt February 16, 2024, the number of shares outstanding of registrant’s Common Stock was 143,899,291.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the definitive proxy statement for the Registrant’s Annual Meeting of Shareholders to be held on May 7, 2024 are incorporated by\nreference into Part III of this Form 10-K.\nAuditor Firm ID: 185 Auditor Name: KPMG, LLP Auditor Location: Seattle, WA, USA",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_key_financials",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Earnings before income taxes 1015028k, diluted earnings attributable to shareholders per share 5.01",
      "golden_context": "Page 60:\n\nConsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, 2023 2022 2021\nRevenues:\nAirfreight services $ 3,246,527 $ 5,886,886 $ 6,771,402\nOcean freight and ocean services 2,363,243 6,544,559 5,545,818\nCustoms brokerage and other services 3,690,340 4,639,839 4,206,297\nTotal revenues 9,300,110 17,071,284 16,523,517\nOperating Expenses:\nAirfreight services 2,347,293 4,359,726 5,067,380\nOcean freight and ocean services 1,634,947 5,188,066 4,364,160\nCustoms brokerage and other services 2,071,760 3,029,105 2,626,615\nSalaries and related costs 1,700,516 2,056,387 2,062,351\nRent and occupancy costs 232,358 209,532 186,287\nDepreciation and amortization 67,760 57,338 51,312\nSelling and promotion 27,913 24,293 16,026\nOther 277,630 322,466 240,060\nTotal operating expenses 8,360,177 15,246,913 14,614,191\nOperating income 939,933 1,824,371 1,909,326\nOther Income (Expense):\nInterest income 70,451 25,554 8,807\nInterest expense (4,800) (23,277) (411)\nOther, net 9,444 9,243 6,894\nOther income, net 75,095 11,520 15,290\nEarnings before income taxes 1,015,028 1,835,891 1,924,616\nIncome tax expense 263,249 475,286 505,771\nNet earnings 751,779 1,360,605 1,418,845\nLess net (losses) earnings attributable to the noncontrolling interest (1,104) 3,206 3,353\nNet earnings attributable to shareholders $ 752,883 $ 1,357,399 $ 1,415,492\nDiluted earnings attributable to shareholders per share $ 5.01 $ 8.26 $ 8.27\nBasic earnings attributable to shareholders per share $ 5.05 $ 8.33 $ 8.37\nWeighted average diluted shares outstanding 150,186 164,427 171,250\nWeighted average basic shares outstanding 149,141 163,010 169,145\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_revenue",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "9300110k",
      "golden_context": "Page 60:\n\nsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, 2023 2022 2021\nRevenues:\nAirfreight services $ 3,246,527 $ 5,886,886 $ 6,771,402\nOcean freight and ocean services 2,363,243 6,544,559 5,545,818\nCustoms brokerage and other services 3,690,340 4,639,839 4,206,297\nTotal revenues 9,300,110 17,071,284 16,523,517\nOperating Expenses:\nAirfreight services 2,347,293 4,359,726 5,067,380\nOcean freight and ocean services 1,634,947 5,188,066 4,364,160\nCustoms brokerage and other services 2,071,760 3,029,105 2,626,615\nSalaries and related costs 1,700,516 2,056,387 2,062,351\nRent and occupancy costs 232,358 209,532 186,287\nDepreciation and amortization 67,760 57,338 51,312\nSelling and promotion 27,913 24,293 16,026\nOther 277,630 322,466 240,060\nTotal operating expenses 8,360,177 15,246,913 14,614,191\nOperating income 939,933 1,824,371 1,909,326\nOther Income (Expense):\nInterest income 70,451 25,554 8,807\nInterest expense (4,800) (23,277) (411)\nOther, net 9,444 9,243 6,894\nOther income, net 75,095 11,520 15,290\nEarnings before income taxes 1,015,028 1,835,891 1,924,616\nIncome tax expense 263,249 475,286 505,771\nNet earnings 751,779 1,360,605 1,418,845\nLess net (losses) earnings attributable to the noncontrolling interest (1,104) 3,206 3,353\nNet earnings attributable to shareholders $ 752,883 $ 1,357,399 $ 1,415,492\nDiluted earnings attributable to shareholders per share $ 5.01 $ 8.26 $ 8.27\nBasic earnings attributable to shareholders per share $ 5.05 $ 8.33 $ 8.37\nWeighted average diluted shares outstanding 150,186 164,427 171,250\nWeighted average basic shares outstanding 149,141 163,010 169,145\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_revenue_growth",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "9300110k, prior year: 17071284k",
      "golden_context": "Page 60:\n\nsolidated Statements of Earnings\nIn thousands, except per share data\nYears ended December 31, 2023 2022 2021\nRevenues:\nAirfreight services $ 3,246,527 $ 5,886,886 $ 6,771,402\nOcean freight and ocean services 2,363,243 6,544,559 5,545,818\nCustoms brokerage and other services 3,690,340 4,639,839 4,206,297\nTotal revenues 9,300,110 17,071,284 16,523,517\nOperating Expenses:\nAirfreight services 2,347,293 4,359,726 5,067,380\nOcean freight and ocean services 1,634,947 5,188,066 4,364,160\nCustoms brokerage and other services 2,071,760 3,029,105 2,626,615\nSalaries and related costs 1,700,516 2,056,387 2,062,351\nRent and occupancy costs 232,358 209,532 186,287\nDepreciation and amortization 67,760 57,338 51,312\nSelling and promotion 27,913 24,293 16,026\nOther 277,630 322,466 240,060\nTotal operating expenses 8,360,177 15,246,913 14,614,191\nOperating income 939,933 1,824,371 1,909,326\nOther Income (Expense):\nInterest income 70,451 25,554 8,807\nInterest expense (4,800) (23,277) (411)\nOther, net 9,444 9,243 6,894\nOther income, net 75,095 11,520 15,290\nEarnings before income taxes 1,015,028 1,835,891 1,924,616\nIncome tax expense 263,249 475,286 505,771\nNet earnings 751,779 1,360,605 1,418,845\nLess net (losses) earnings attributable to the noncontrolling interest (1,104) 3,206 3,353\nNet earnings attributable to shareholders $ 752,883 $ 1,357,399 $ 1,415,492\nDiluted earnings attributable to shareholders per share $ 5.01 $ 8.26 $ 8.27\nBasic earnings attributable to shareholders per share $ 5.05 $ 8.33 $ 8.37\nWeighted average diluted shares outstanding 150,186 164,427 171,250\nWeighted average basic shares outstanding 149,141 163,010 169,145\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000306_segments",
      "report_id": "ID_000306",
      "company_name": "Expeditors",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Americas, North Asia, South Asia, Europe, Middle East, Africa and India",
      "golden_context": "Page 9:\n\nExpeditors has approximately 18,000 employees and provides a complete range of global logistics services to a diversified group of\nAirfreight services\ncustomers that vary in size, industry and geographic location. As opportunities for profitable growth arise, we will continue to open new\noffices where it makes sense to support existing global customers and serve new local markets. As a knowledge-based global provider\nof logistics services, we have often concluded over the course of our history that it is better to grow organically rather than by acquisition.\nWhen we have made acquisitions, it has generally been to obtain technology or gain specialized industry expertise that could be\nleveraged to benefit our entire network.\nExpeditors, including its majority-owned subsidiaries, is organized functionally in geographic operating segments and operates district\noffices in the regions identified below. Our district offices are defined by geographic boundaries and have been established in locations\nwhere Expeditors maintains unilateral control over operations, and where the existence of the parent-subsidiary relationship is\nmaintained by means other than record ownership of voting stock.\nExpeditors operates 176 district offices in the following geographic areas of responsibility:\n• Americas (70)\n• North Asia (21)\n• South Asia (16)\n• Europe (45)\n• Middle East, Africa and India (24)\nWe also maintain branch offices, which are aligned with and dependent upon one district office, where practical benefit is gained by\nhaving staff located closer to the customers they are serving. Additionally, we contract with independent agents in locations where we\ndo not have our own offices to provide required services for our existing customers. We have established 36 such relationships\nworldwide.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_cash_flow",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating:  3'218.8m, \ninvesting: -5'658.1m, \nfinancing:  1'921.5m",
      "golden_context": "Page 98:\n\nPrincipal Financial Group, Inc.\nConsolidated Statements of Cash Flows\nFor the year ended December 31,\n2021 2020 2019\n(in millions)\nOperating activities\nNet income $ 1,757.4 $ 1,428.5 $ 1,444.1\nAdjustments to reconcile net income to net cash provided by operating activities:\nNet realized capital (gains) losses (2.5) (302.6) 52.8\nDepreciation and amortization expense 275.3 251.9 226.8\nAmortization of deferred acquisition costs and contract costs 317.8 412.9 371.4\nAdditions to deferred acquisition costs and contract costs (518.7) (499.9) (515.5)\nStock-based compensation 96.1 87.6 82.6\nIncome from equity method investments, net of dividends received (166.3) (10.6) (111.9)\nChanges in:\nAccrued investment income 13.8 (24.0) (50.4)\nNet cash flows for trading securities and equity securities with operating intent 99.9 144.2 (53.8)\nPremiums due and other receivables (100.9) 16.4 (247.6)\nContractholder and policyholder liabilities and dividends 1,363.5 1,591.2 3,599.9\nCurrent and deferred income taxes 160.2 442.5 211.2\nReal estate acquired through operating activities (73.7) (16.4) (64.7)\nReal estate sold through operating activities 1.8 195.5 136.1\nOther assets and liabilities 10.4 (89.0) 401.1\nOther (15.3) 110.4 11.1\nNet adjustments 1,461.4 2,310.1 4,049.1\nNet cash provided by operating activities 3,218.8 3,738.6 5,493.2\nInvesting activities\nFixed maturities available-for-sale and equity securities with intent to hold:\nPurchases (16,625.5) (15,713.4) (14,137.1)\nSales 2,735.3 3,043.9 2,397.4\nMaturities 10,960.0 8,819.5 7,064.2\nMortgage loans acquired or originated (5,223.5) (3,249.5) (3,487.7)\nMortgage loans sold or repaid 2,853.2 2,477.2 2,335.9\nReal estate acquired (281.4) (230.6) (127.5)\nReal estate sold 133.7 2.3 96.3\nNet purchases of property and equipment (129.9) (108.8) (132.4)\nPurchase of business or interests in subsidiaries, net of cash acquired— — (1,208.5)\nSale of interests in subsidiaries 27.0— —\nNet change in other investments (107.0) (66.4) (489.1)\nNet cash used in investing activities (5,658.1) (5,025.8) (7,688.5)\nFinancing activities\nIssuance of common stock 86.7 42.8 37.7\nAcquisition of treasury stock (937.2) (307.0) (281.0)\nPayments for financing element derivatives (39.9) (30.9) (26.9)\nPurchase of subsidiary shares from noncontrolling interest (24.2) (1.4) (1.7)\nDividends to common stockholders (654.1) (614.5) (606.0)\nIssuance of long-term debt— 608.9 504.9\nPrincipal repayments of long-term debt (1.8) (65.8) (32.2)\nNet proceeds from (repayments of) short-term borrowings 10.2 (12.6) 57.5\nInvestment contract deposits 9,359.8 10,284.4 9,200.0\nInvestment contract withdrawals (8,801.0) (8,852.7) (7,747.7)\nNet increase in banking operation deposits 2,922.9 569.7 623.4\nOther 0.1 0.2 5.7\nNet cash provided by financing activities 1,921.5 1,621.1 1,733.7\nNet increase (decrease) in cash and cash equivalents (517.8) 333.9 (461.6)\nCash and cash equivalents at beginning of period 2,849.8 2,515.9 2,977.5\nCash and cash equivalents at end of period $ 2,332.0 $ 2,849.8 $ 2,515.9\nSupplemental information:\nCash paid for interest $ 166.1 $ 162.8 $ 157.7\nCash paid for (received from) income taxes 109.9 (172.0) (8.5)\nSupplemental disclosure of non-cash activities:\nChanges from re-designation of other postretirement employee benefits (“OPEB”) plan assets to cover non-\nretiree benefits:\nIncreases in equity securities re-designated from funded status of OPEB plan $ 548.1 $ — $ —\nIncreases in other investments re-designated from funded status of OPEB plan 117.5— —\nDecrease in tax receivable re-designated from funded status of OPEB plan (9.1)— —\nDecrease in accumulated other comprehensive income (“AOCI”) due to reclassifying excess assets out of\nfunded status of OPEB plan 9.1— —\nDecrease in other assets due to reclassifying excess assets out of funded status of OPEB plan (665.6)— —\nLease assets established upon adoption of accounting guidance— — 168.8\nLease liabilities established upon adoption of accounting guidance— — 164.0\nAssets received in kind from pension risk transfer transactions 109.5 1,325.2 1,225.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_company_type",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-16725\nPRINCIPAL FINANCIAL GROUP, INC.\n(Exact name of Registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n711 High Street,\nDes Moines, Iowa 50392\n(Address of principal executive offices)\n42-1520346\n(I.R.S. Employer\nIdentification Number)\n(515) 247-5111\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class\nCommon Stock, par value $0.01\nTrading symbol(s)\nPFG\nName of each exchange on which registered\nNasdaq Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act\nof 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company\nor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes ☐ No ☒\nAs of January 28, 2022, there were outstanding 261,227,525 shares of Common Stock, $0.01 par value per share of the Registrant.\nThe aggregate market value of the shares of the Registrant’s common equity held by non-affiliates of the Registrant was approximately $17.0\nbillion based on the closing price of $63.19 per share of Common Stock on June 30, 2021.\nDocuments Incorporated by Reference\nThe information required to be furnished pursuant to Part III of this Form 10-K is set forth in, and is hereby incorporated by reference herein from,\nthe Registrant’s definitive proxy statement for the annual meeting of stockholders to be held on May 17, 2022, to be filed by the Registrant with the United\nStates Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the year ended December 31, 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_key_financials",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Net income 1'757.4m,\nrevenues: 14'262.7m\nDiluted EPS 6.27",
      "golden_context": "Page 54:\n\nds. For additional information, see “Investment Results.”\nRecent Accounting Changes\nFor recent accounting changes, see Item 8. “Financial Statements and Supplementary Data, Notes to Consolidated Financial Statements,\nNote 1, Nature of Operations and Significant Accounting Policies” under the caption, “Recent Accounting Pronouncements.”\nResults of Operations\nThe following table presents summary consolidated financial information for the years indicated:\nFor the year ended\nDecember 31,\nIncrease\n2021 2020 (decrease)\n(in millions)\nRevenues:\nPremiums and other considerations Fees and other revenues $ 4,841.5 $ 6,037.4 $ (1,195.9)\n5,012.6 4,511.1 501.5\nNet investment income 4,406.1 3,890.6 515.5\n2.5 302.6 (300.1)\nNet realized capital gains Total revenues 14,262.7 14,741.7 (479.0)\nExpenses:\nBenefits, claims and settlement expenses Dividends to policyholders 7,097.0 8,281.5 (1,184.5)\n94.8 120.2 (25.4)\nOperating expenses 4,987.3 4,646.5 340.8\nTotal expenses 12,179.1 13,048.2 (869.1)\nIncome before income taxes 2,083.6 1,693.5 390.1\nIncome taxes 326.2 265.0 61.2\nNet income 1,757.4 1,428.5 328.9\nNet income attributable to noncontrolling interest Net income attributable to Principal Financial Group, Inc. 46.8 32.7 14.1\n$ 1,710.6 $ 1,395.8 $ 314.8\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nNet Income Attributable to Principal Financial Group, Inc.\nNet income attributable to Principal Financial Group, Inc. increased primarily due to a $274.9 million after-tax increase in variable\ninvestment income and a $104.0 million less unfavorable impact of actuarial assumption updates and model refinements in 2021 compared to\n2020.\nTotal Revenues\nPremiums decre",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_revenue",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "4841.5m",
      "golden_context": "Page 54:\n\ne asset classes, including results of value-add real estate sales activity. Due to its unpredictable nature, variable investment\nincome may or may not be material to our financial results for a given reporting period and may create variances when comparing different\nreporting periods. For additional information, see “Investment Results.”\nRecent Accounting Changes\nFor recent accounting changes, see Item 8. “Financial Statements and Supplementary Data, Notes to Consolidated Financial Statements,\nNote 1, Nature of Operations and Significant Accounting Policies” under the caption, “Recent Accounting Pronouncements.”\nResults of Operations\nThe following table presents summary consolidated financial information for the years indicated:\nFor the year ended\nDecember 31,\nIncrease\n2021 2020 (decrease)\n(in millions)\nRevenues:\nPremiums and other considerations Fees and other revenues $ 4,841.5 $ 6,037.4 $ (1,195.9)\n5,012.6 4,511.1 501.5\nNet investment income 4,406.1 3,890.6 515.5\n2.5 302.6 (300.1)\nNet realized capital gains Total revenues 14,262.7 14,741.7 (479.0)\nExpenses:\nBenefits, claims and settlement expenses Dividends to policyholders 7,097.0 8,281.5 (1,184.5)\n94.8 120.2 (25.4)\nOperating expenses 4,987.3 4,646.5 340.8\nTotal expenses 12,179.1 13,048.2 (869.1)\nIncome before income taxes 2,083.6 1,693.5 390.1\nIncome taxes 326.2 265.0 61.2\nNet income 1,757.4 1,428.5 328.9\nNet income attributable to noncontrolling interest Net income attributable to Principal Financial Group, Inc. 46.8 32.7 14.1\n$ 1,710.6 $ 1,395.8 $ 314.8\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nNet Income Attributable to Principal Financial Group, Inc.\nNet income attributable to Principal Financial Group, Inc. increased primarily due to a $274.9 million after-tax increase in variable\ninvestment income and a $104.0 million less unfavorable impact of actuarial assumption updates and model refinements in 2021 compared to\n2020.\nTotal Revenues\nPremiums decreased $1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_revenue_growth",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "4841.5m, prior year 6037.4m",
      "golden_context": "Page 54:\n\ne asset classes, including results of value-add real estate sales activity. Due to its unpredictable nature, variable investment\nincome may or may not be material to our financial results for a given reporting period and may create variances when comparing different\nreporting periods. For additional information, see “Investment Results.”\nRecent Accounting Changes\nFor recent accounting changes, see Item 8. “Financial Statements and Supplementary Data, Notes to Consolidated Financial Statements,\nNote 1, Nature of Operations and Significant Accounting Policies” under the caption, “Recent Accounting Pronouncements.”\nResults of Operations\nThe following table presents summary consolidated financial information for the years indicated:\nFor the year ended\nDecember 31,\nIncrease\n2021 2020 (decrease)\n(in millions)\nRevenues:\nPremiums and other considerations Fees and other revenues $ 4,841.5 $ 6,037.4 $ (1,195.9)\n5,012.6 4,511.1 501.5\nNet investment income 4,406.1 3,890.6 515.5\n2.5 302.6 (300.1)\nNet realized capital gains Total revenues 14,262.7 14,741.7 (479.0)\nExpenses:\nBenefits, claims and settlement expenses Dividends to policyholders 7,097.0 8,281.5 (1,184.5)\n94.8 120.2 (25.4)\nOperating expenses 4,987.3 4,646.5 340.8\nTotal expenses 12,179.1 13,048.2 (869.1)\nIncome before income taxes 2,083.6 1,693.5 390.1\nIncome taxes 326.2 265.0 61.2\nNet income 1,757.4 1,428.5 328.9\nNet income attributable to noncontrolling interest Net income attributable to Principal Financial Group, Inc. 46.8 32.7 14.1\n$ 1,710.6 $ 1,395.8 $ 314.8\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nNet Income Attributable to Principal Financial Group, Inc.\nNet income attributable to Principal Financial Group, Inc. increased primarily due to a $274.9 million after-tax increase in variable\ninvestment income and a $104.0 million less unfavorable impact of actuarial assumption updates and model refinements in 2021 compared to\n2020.\nTotal Revenues\nPremiums decreased $1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000307_segments",
      "report_id": "ID_000307",
      "company_name": "Principal Financial",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retirment and Income Solutions; Principal Global Investors; Principal International; U.S. Insurance Solutions",
      "golden_context": "Page 4:\n\ntive investments, as well as fund offerings.\nIn the U.S.,we offer a broad array of retirement and employee benefit solutions and individual insurance solutions to meet the needs of the\nbusiness owner and their employees. We are a leading provider of defined contribution plans. We are also a leading employee stock ownership\nplan (“ESOP”) consultant. In addition, we are a leading provider of nonqualified plans, defined benefit plans and pension risk transfer services.\nWe are also one of the largest providers of specialty benefits insurance product solutions. We believe small and medium-sized businesses are an\nunderserved market, offering attractive growth opportunities in the retirement and employee benefit markets.\nAdditionally, we believe we have a significant opportunity to leverage our U.S. retirement expertise in select international markets that\nhave adopted or are moving toward private sector defined contribution pension systems. Our international asset management and accumulation\nbusinesses focus on the opportunities created as aging populations around the world drive increased demand for retirement accumulation,\nretirement asset management and retirement income management solutions.\nOur Reportable Segments\nWe organize our businesses into the following reportable segments:\n● Retirement and Income Solutions;\n● Principal Global Investors;\n● Principal International and\n● U.S. Insurance Solutions.\nWe also have a Corporate segment, which consists of the assets and activities that have not been allocated to any other segment.\nSee Item 8. “Financial Statements and Supplementary Data, Notes to Consolidated Financial Statements, Note 16, Segment Information”\nfor financial results of our segments.\nReinsurance Transaction\nOn January 31, 2022, we entered into a Master Transaction Agreement (“MTA”) with Sutton Cayman, Ltd. (“Sutton Cayman”), a limited\ncompany organized under the laws of the Cayman Islands and an affiliate of Talcott Resolution Life, Inc., a subsidiary of Sixth Street, pursuant\nto which we will cede 100% of our in-force U.S. retail fixed annuity and universal life insurance with secondary guarantee (“ULSG”) blocks of\nbusiness (the “Reinsurance Transaction”). The Reinsurance Transaction will be structured through 100% coinsurance with funds withheld. We\nwill retain administration of the ceded business. Additionally, Principal Global Investors, LLC will be appointed as investment adviser with\nrespect to the management of all transferred commercial mortgage loans and private credit assets.\nThe Reinsurance Transaction is expected to close during the second quarter of 2022 with economics effective as of January 1, 2022, subject\nto regulatory approval. The deployable proceeds from the Reinsurance Transaction and additional transactions designed to improve the capital\nefficiency of the in-force U.S. individual life insurance business will be returned to shareholders through share repurchases. Our Board of\nDirectors approved a $1.6 billion increase to the $1.1 billion that remained available under our existing share repurchase authorization as of\nDecember 31, 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_cash_flow",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1153m, investing: -15068m, financing: 13737m",
      "golden_context": "Page 115:\n\nConsolidated Statements of Cash Flows\nYear ended December 31,\nDollars in millions 2021 2020 2019\nOPERATING ACTIVITIES\nNet income (loss) $ 2,625 $ 1,343 $ 1,717\nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\nProvision for credit losses (418) 1,021 445\nDepreciation and amortization expense, net 32 111 241\nAccretion of acquired loans 24 28 50\nIncrease in cash surrender value of corporate-owned life insurance (113) (119) (121)\nStock-based compensation expense 104 101 96\nDeferred income taxes (benefit) 146 (191) 53\nProceeds from sales of loans held for sale 16,114 14,076 11,980\nOriginations of loans held for sale, net of repayments (16,497) (13,856) (11,704)\nNet losses (gains) from sale of loans held for sale (282) (233) (188)\nNet losses (gains) and writedown on OREO — — 7\nNet losses (gains) on leased equipment (12) (21) (17)\nNet losses (gains) on sales of fixed assets 18 5 (2)\nNet securities losses (gains) (7) (4) (20)\nNet decrease (increase) in trading account assets 34 305 (191)\nNet transfer of loans held for sale — — —\nOther operating activities, net (615) (893) 560\nNET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,153 1,673 2,906\nINVESTING ACTIVITIES\nCash received (used) in acquisitions, net of cash acquired (29) — (185)\nNet decrease (increase) in short-term investments, excluding acquisitions 5,184 (14,922) 1,290\nPurchases of securities available for sale (28,190) (15,619) (5,714)\nProceeds from sales of securities available for sale 1,375 583 362\nProceeds from prepayments and maturities of securities available for sale 7,623 9,923 3,586\nProceeds from prepayments and maturities of held-to-maturity securities 2,889 2,493 1,477\nPurchases of held-to-maturity securities (3) (17) (22)\nPurchases of other investments (55) (134) (52)\nProceeds from sales of other investments 41 101 60\nProceeds from prepayments and maturities of other investments 26 15 56\nNet decrease (increase) in loans, excluding acquisitions, sales, and transfers (4,276) (7,358) (6,190)\nProceeds from sales of portfolio loans 337 211 399\nProceeds from corporate-owned life insurance 72 66 59\nPurchases of premises, equipment, and software (66) (63) (85)\nProceeds from sales of premises and equipment 4 — 18\nProceeds from sales of OREO — — 23\nNET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (15,068) (24,721) (4,918)\nFINANCING ACTIVITIES\nNet increase (decrease) in deposits, excluding acquisitions 17,290 23,412 4,561\nNet increase (decrease) in short-term borrowings (218) (113) 229\nNet proceeds from issuance of long-term debt 1,203 3,607 2,129\nPayments on long-term debt (2,566) (2,508) (3,634)\nIssuance of preferred shares — — 435\nOpen market common share repurchases (559) (134) (835)\nEmployee equity compensation program Common Share repurchases (32) (36) (33)\nCommon share purchases under ASR program (585) — —\nNet proceeds from reissuance of Common Shares 27 8 18\nCash dividends paid (823) (829) (804)\nNET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 13,737 23,407 2,066\nNET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (178) 359 54\nCASH AND DUE FROM BANKS AT BEGINNING OF YEAR 1,091 732 678\nCASH AND DUE FROM BANKS AT END OF YEAR $ 913 $ 1,091 $ 732\nAdditional disclosures relative to cash flows:\nInterest paid $ 363 $ 731 $ 1,251\nIncome taxes paid 277 241 18\nNoncash items:\nReduction of secured borrowing and related collateral $ 9 $ 7 $ 5\nLoans transferred to portfolio from held for sale 87 75 157\nLoans transferred to held for sale from portfolio 3,403 310 468\nLoans transferred to other real estate owned 4 96 29\nCMBS risk retentions 28 40 59\nABS risk retentions 11 19 12\nSecurities received as consideration 2,825 — —",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_company_type",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned",
      "golden_context": "Page 10:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT\nPURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\nDecember 31, 2021\nCommission file number: 1-11302\nKeyCorp\nTrading\nSymbol(s)\nKEY KEY PrI KEY PrJ KEY PrK Name of each exchange\non which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nExact name of registrant as specified in its charter:\nOhio 34-6542451\nState or other jurisdiction of incorporation or organization: I.R.S. Employer Identification Number:\n127 Public Square, Cleveland, Ohio Address of principal executive offices: 44114-1306\nZip Code:\n(216) 689-3000\nRegistrant’s telephone number, including area code:\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTitle of each class\nCommon Shares, $1 par value Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series F)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series G)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of voting and non-voting common stock held by nonaffiliates of the Registrant was $19,829,696,963 (based on the\nJune 30, 2021, closing price of KeyCorp Common Shares of $20.65 as reported on the New York Stock Exchange). As of February 18, 2022,\nthere were 927,761,031 Common Shares outstanding.\nCertain specifically designated portions of KeyCorp’s definitive Proxy Statement for its 2022 Annual Meeting of Shareholders are incorporated by",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_key_financials",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Net income 2612m, earnings per common share diluted 2.62",
      "golden_context": "Page 9:\n\nYEAR ENDED DECEMBER 31,\n(dollars in millions, except per share amounts)\n2021 2020 2019 2018 2017\nTotal revenue (TE)1 Net interest income (TE) Noninterest income Noninterest expense1 Provision for credit losses1 Net income1 $ 7,292 4,098 3,194 4,429 (418) 2,612 Net income attributable to common shareholders1 2,506 Earnings per common share – assuming dilution1 2.62 6,715 6,400 6,455 6,308\n4,063 3,941 3,940 3,830\n2,652 2,459 2,515 2,478\n4,109 3,901 3,975 4,098\n1,021 445 246 229\n1,329 1,708 1,859 1,289\n1,223 1,611 1,793 1,219\n1.26 1.61 1.70 1.12\nNotable items2 Notable items, after tax- Earnings per common share impact of notable items- - - 239 41 165\n- 183 31 259\n- (0.19) (0.03) (0.24)\nNet income attributable to common shareholders, excluding notable items2 2,506 Earnings per common share – assuming dilution, excluding notable items1 2\n2.62 Return on average tangible common equity1 2 19.37 Cash efficiency ratio1 2 59.9 1,223 1,794 1,824 1,478\n1.26 1.80 1.73 1.36\n9.51 13.46 16.22 10.84\n60.2 59.6 60.0 63.5\nCash dividends paid (per common share) Book value at year end Tangible book value at year end Market price at year end 0.75 16.76 13.72 23.13 0.74 0.71 0.565 0.38\n16.53 15.54 13.90 13.09\n13.61 12.56 11.14 10.35\n16.41 20.24 14.78 20.17\nAT DECEMBER 31,\nLoans Total assets Deposits Key shareholders’ equity Common shares outstanding (000) $ 101,854 186,346 152,572 17,423 928,850 101,185 94,646 89,552 86,405\n170,336 144,988 139,613 137,698\n135,282 111,870 107,309 105,235\n17,981 17,038 15,595 15,023\n975,773 977,189 1,019,503 1,069,084\nBranches Automated teller machines (ATMs) Average full-time equivalent employees 999 1,317 16,974 1,073 1,098 1,159 1,197\n1,386 1,420 1,505 1,572\n16,826 17,045 18,180 18,415",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_revenue",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Revenues 7292m",
      "golden_context": "Page 9:\n\nYEAR ENDED DECEMBER 31,\n(dollars in millions, except per share amounts)\n2021 2020 2019 2018 2017\nTotal revenue (TE)1 Net interest income (TE) Noninterest income Noninterest expense1 Provision for credit losses1 Net income1 $ 7,292 4,098 3,194 4,429 (418) 2,612 Net income attributable to common shareholders1 2,506 Earnings per common share – assuming dilution1 2.62 6,715 6,400 6,455 6,308\n4,063 3,941 3,940 3,830\n2,652 2,459 2,515 2,478\n4,109 3,901 3,975 4,098\n1,021 445 246 229\n1,329 1,708 1,859 1,289\n1,223 1,611 1,793 1,219\n1.26 1.61 1.70 1.12\nNotable items2 Notable items, after tax- Earnings per common share impact of notable items- - - 239 41 165\n- 183 31 259\n- (0.19) (0.03) (0.24)\nNet income attributable to common shareholders, excluding notable items2 2,506 Earnings per common share – assuming dilution, excluding notable items1 2\n2.62 Return on average tangible common equity1 2 19.37 Cash efficiency ratio1 2 59.9 1,223 1,794 1,824 1,478\n1.26 1.80 1.73 1.36\n9.51 13.46 16.22 10.84\n60.2 59.6 60.0 63.5\nCash dividends paid (per common share) Book value at year end Tangible book value at year end Market price at year end 0.75 16.76 13.72 23.13 0.74 0.71 0.565 0.38\n16.53 15.54 13.90 13.09\n13.61 12.56 11.14 10.35\n16.41 20.24 14.78 20.17\nAT DECEMBER 31,\nLoans Total assets Deposits Key shareholders’ equity Common shares outstanding (000) $ 101,854 186,346 152,572 17,423 928,850 101,185 94,646 89,552 86,405\n170,336 144,988 139,613 137,698\n135,282 111,870 107,309 105,235\n17,981 17,038 15,595 15,023\n975,773 977,189 1,019,503 1,069,084\nBranches Automated teller machines (ATMs) Average full-time equivalent employees 999 1,317 16,974 1,073 1,098 1,159 1,197\n1,386 1,420 1,505 1,572\n16,826 17,045 18,180 18,415",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_revenue_growth",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "9% increase",
      "golden_context": "Page 2:\n\nGROWTH\nTo our fellow shareholders:\nI am pleased to share that 2021 marked\nan exceptional year for Key and all\nof our stakeholders. We served our\nclients and communities, supported\nour teammates, and delivered record\nfinancial results.\nOur stock performance reflected our\nstrong results. In 2021, our stock price\nincreased 41%, outperforming the\npeer median and the overall market – a\ntestament to our differentiated business\nmodel and strategy. I am very proud\nof our team’s collective effort and\nremarkable dedication.\nKey delivered record financial results in\n2021, growing both our consumer and\ncommercial businesses. We achieved\npositive operating leverage for the eighth\ntime in the last nine years, by growing\nour revenue at a faster pace than our\nexpenses. Our total revenue increased\n9% year-over-year, reaching an all-time\nhigh. We grew net interest income and\nachieved record fee income, which\nincreased 20% from the prior year.\nOur consumer bank delivered record\nresults and our strongest performance\nin over a decade. This achievement\nwas driven by transformational change\nin culture, products, and capabilities.\nWe delivered record net new household\ngrowth in 2021, and we also continued\nto deepen relationships with existing\nclients across our footprint.\nWe are adding new consumer\nhouseholds at a record pace, building\non the historical strength of our scaled\nMidwest and Eastern markets and\ncapitalizing on the significant growth\nin our Western markets. In fact, we\ncontinue to outpace the industry and\ntake share in these attractive, fast-\ngrowing markets. Our Western franchise\ngrew at three times the rate of our total\nfootprint last year.\nImportantly, we also continue to grow\nrelationships with younger clients, with\n25% of our new households under\nthe age of 30 – our fastest growing\nclient segment. This is a testament to\nthe strength of our value proposition\nand our combined digital and physical\noffering which will pay dividends as our\nyounger clients’ financial needs become\nmore complex over time.\nWe have two strong growth engines in\nour consumer business – Laurel Road\nand home lending. Last year, these\ntwo businesses combined generated a\nrecord $16 billion in loan originations.\nImportantly, both businesses bring high-\nquality, relationship clients t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000308_segments",
      "report_id": "ID_000308",
      "company_name": "KeyCorp",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer Bank and Commercial Bank",
      "golden_context": "Page 15:\n\nOverview\nKeyCorp, organized in 1958 under the laws of the State of Ohio, is headquartered in Cleveland, Ohio. We are a\nBHC under the BHCA and one of the nation’s largest bank-based financial services companies, with consolidated\ntotal assets of approximately $186.3 billion at December 31, 2021. KeyCorp is the parent holding company for\nKeyBank National Association, its principal subsidiary, through which most of our banking services are provided.\nThrough KeyBank and certain other subsidiaries, we provide a wide range of retail and commercial banking,\ncommercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage\nservicing and special servicing, and investment banking products and services to individual, corporate, and\ninstitutional clients through two major business segments: Consumer Bank and Commercial Bank.\nAs of December 31, 2021, these services were provided across the country through KeyBank’s 999 full-service\nretail banking branches and a network of 1,317 ATMs in 15 states, as well as additional offices, online and mobile\nbanking capabilities, including our national digital bank, Laurel Road, and a telephone banking call center. Additional\ninformation pertaining to our two business segments is included in the “Business Segment Results” section in\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this report, and\nin Note 25 (“Business Segment Reporting”) of the Notes to Consolidated Financial Statements presented in Item 8.\nFinancial Statements and Supplementary Data, which are incorporated herein by reference.\nIn addition to the customary banking services of accepting deposits and making loans, our bank and its trust\ncompany subsidiary offer personal and institutional trust custody services, personal financial and planning services,\naccess to mutual funds, treasury services, and international banking services. Through our bank, trust company,\nand registered investment adviser subsidiaries, we provide investment management services to clients that include\nlarge corporate and public retirement plans, foundations and endowments, high-net-worth individuals, and multi-\nemployer trust funds established for providing pension or other benefits to employees.\nWe provide other financial services — both within and outside of our primary banking markets — through various\nnonbank subsidiaries. These services include community development financing, securities underwriting,\ninvestment banking and capital markets products, and brokerage. We also provide merchant services to\nbusinesses.\nKeyCorp is a legal entity separate and distinct from its banks and other subsidiaries. Accordingly, the right of\nKeyCorp, its security holders, and its creditors to participate in any distribution of the assets or earnings of its banks\nand other subsidiaries is subject to the prior claims of the creditors of such banks and other subsidiaries, except to\nthe extent that KeyCorp’s claims in its capacity as a creditor may be recognized.\nWe derive the majority of our revenues within the United States from customers domiciled in the United States.\nRevenue from foreign countries and external customers domiciled in foreign countries was immaterial to our\nconsolidated financial statements.\nDemographics\nOur management structure and basis of presentation is divided into two business segments, Consumer Bank and\nCommercial Bank. Note 25 (“Business Segment Reporting”) describes the products and services offered by each of\nthese business segments and provides more detailed",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_cash_flow",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 4469m, investing: -10934m, financing: 6439m",
      "golden_context": "Page 114:\n\nConsolidated Statements of Cash Flows\nYear ended December 31,\nDollars in millions 2022 2021 2020\nOPERATING ACTIVITIES\nNet income (loss) $ 1,917 $ 2,625 $ 1,343\nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\nProvision for credit losses 502 (418) 1,021\nDepreciation and amortization expense, net 137 32 111\nAccretion of acquired loans 27 24 28\nIncrease in cash surrender value of corporate-owned life insurance (113) (113) (119)\nStock-based compensation expense 120 104 101\nDeferred income taxes (benefit) (27) 146 (191)\nProceeds from sales of loans held for sale 12,496 16,114 14,076\nOriginations of loans held for sale, net of repayments (10,684) (16,497) (13,856)\nNet losses (gains) from sale of loans held for sale (151) (282) (233)\nNet losses (gains) on leased equipment 7 (12) (21)\nNet securities losses (gains) (9) (7) (4)\nNet losses (gains) on sales of fixed assets (7) 18 5\nNet decrease (increase) in trading account assets (128) 34 305\nOther operating activities, net 382 (615) (893)\nNET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 4,469 1,153 1,673\nINVESTING ACTIVITIES\nPurchases of intangible assets via acquisitions (12) — —\nCash received (used) in acquisitions, net of cash acquired (58) (29) —\nNet decrease (increase) in short-term investments, excluding acquisitions 8,578 5,184 (14,922)\nPurchases of securities available for sale (4,473) (28,190) (15,619)\nProceeds from sales of securities available for sale — 1,375 583\nProceeds from prepayments and maturities of securities available for sale 4,545 7,623 9,923\nProceeds from prepayments and maturities of held-to-maturity securities 2,291 2,889 2,493\nPurchases of held-to-maturity securities (3,670) (3) (17)\nPurchases of other investments (667) (55) (134)\nProceeds from sales of other investments 17 41 101\nProceeds from prepayments and maturities of other investments 15 26 15\nNet decrease (increase) in loans, excluding acquisitions, sales, and transfers (17,649) (4,276) (7,358)\nProceeds from sales of portfolio loans 157 337 211\nProceeds from corporate-owned life insurance 72 72 66\nPurchases of premises, equipment, and software (96) (66) (63)\nProceeds from sales of premises and equipment 16 4 —\nNET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (10,934) (15,068) (24,721)\nFINANCING ACTIVITIES\nNet increase (decrease) in deposits, excluding acquisitions (9,977) 17,290 23,412\nNet increase (decrease) in short-term borrowings 8,702 (218) (113)\nNet proceeds from issuance of long-term debt 16,596 1,203 3,607\nPayments on long-term debt (8,580) (2,566) (2,508)\nIssuance of preferred shares 590 — —\nOpen market common share repurchases — (559) (134)\nEmployee equity compensation program Common Share repurchases (44) (32) (36)\nCommon share purchases under ASR program — (585) —\nNet proceeds from reissuance of Common Shares 6 27 8\nCash dividends paid (854) (823) (829)\nNET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 6,439 13,737 23,407\nNET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (26) (178) 359\nCASH AND DUE FROM BANKS AT BEGINNING OF YEAR 913 1,091 732\nCASH AND DUE FROM BANKS AT END OF YEAR $ 887 $ 913 $ 1,091\nAdditional disclosures relative to cash flows:\nInterest paid $ 601 $ 363 $ 731\nIncome taxes paid 292 277 241\nNoncash items:\nReduction of secured borrowing and related collateral $ 9 $ 9 $ 7\nLoans transferred to portfolio from held for sale 105 87 75\nLoans transferred to held for sale from portfolio — 3,403 310\nLoans transferred to other real estate owned 6 4 96\nCMBS risk retentions 12 28 40\nABS risk retentions 8 11 19\nSecurities received as consideration — 2,825 —",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_company_type",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned",
      "golden_context": "Page 11:\n\nNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT\nPURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\nDecember 31, 2022\nCommission file number: 1-11302\nKeyCorp\nTrading\nSymbol(s)\nKEY KEY PrI KEY PrJ KEY PrK KEY PrL Name of each exchange\non which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nExact name of registrant as specified in its charter:\nOhio 34-6542451\nState or other jurisdiction of incorporation or organization: I.R.S. Employer Identification Number:\n127 Public Square, Cleveland, Ohio Address of principal executive offices: 44114-1306\nZip Code:\n(216) 689-3000\nRegistrant’s telephone number, including area code:\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTitle of each class\nCommon Shares, $1 par value Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series F)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series G)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Reset Perpetual Non- Cumulative Preferred Stock, Series H)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_key_financials",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Net income 1911, return on average tangible common equity 18.34",
      "golden_context": "Page 10:\n\nYEAR ENDED DECEMBER 31,\n(dollars in millions, except per share amounts) 2022 2021 2020 2019 2018\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\n6,455\n3,940\n2,515\n3,975\n246\n1,859\n1,793\n1.70\nNotable items2\nNotable items, after tax\nEarnings per common share impact of notable items\n–\n–\n–\n–\n–\n–\n–\n–\n–\n239\n183\n(0.19)\n41\n31\n(0.03)\nNet income attributable to common shareholders,\nexcluding notable items2\nEarnings per common share – assuming dilution,\nexcluding notable items1,2\nReturn on average tangible common equity1,2\nCash efficiency ratio1,2\n$1,793\n1.92\n18.34\n60.0\n2,506\n2.62\n19.37\n59.9\n1,223\n1.26\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\n1,824\n1.73\n16.22\n60.0\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\n0.565\n13.90\n11.14\n14.78\nAT DECEMBER 31,\nLoans\nTotal assets\nDeposits\nKey shareholders equity\nCommon shares outstanding (000)\n$119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\n89,552\n139,613\n107,309\n15,595\n1,019,503\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees (full year)\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\n1,159\n1,505\n18,180",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_revenue",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "7272m",
      "golden_context": "Page 10:\n\nYEAR ENDED DECEMBER 31,\n(dollars in millions, except per share amounts) 2022 2021 2020 2019 2018\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\n6,455\n3,940\n2,515\n3,975\n246\n1,859\n1,793\n1.70\nNotable items2\nNotable items, after tax\nEarnings per common share impact of notable items\n–\n–\n–\n–\n–\n–\n–\n–\n–\n239\n183\n(0.19)\n41\n31\n(0.03)\nNet income attributable to common shareholders,\nexcluding notable items2\nEarnings per common share – assuming dilution,\nexcluding notable items1,2\nReturn on average tangible common equity1,2\nCash efficiency ratio1,2\n$1,793\n1.92\n18.34\n60.0\n2,506\n2.62\n19.37\n59.9\n1,223\n1.26\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\n1,824\n1.73\n16.22\n60.0\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\n0.565\n13.90\n11.14\n14.78\nAT DECEMBER 31,\nLoans\nTotal assets\nDeposits\nKey shareholders equity\nCommon shares outstanding (000)\n$119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\n89,552\n139,613\n107,309\n15,595\n1,019,503\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees (full year)\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\n1,159\n1,505\n18,180",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_revenue_growth",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "7272m, prior year 7292m",
      "golden_context": "Page 10:\n\nYEAR ENDED DECEMBER 31,\n(dollars in millions, except per share amounts) 2022 2021 2020 2019 2018\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\n6,455\n3,940\n2,515\n3,975\n246\n1,859\n1,793\n1.70\nNotable items2\nNotable items, after tax\nEarnings per common share impact of notable items\n–\n–\n–\n–\n–\n–\n–\n–\n–\n239\n183\n(0.19)\n41\n31\n(0.03)\nNet income attributable to common shareholders,\nexcluding notable items2\nEarnings per common share – assuming dilution,\nexcluding notable items1,2\nReturn on average tangible common equity1,2\nCash efficiency ratio1,2\n$1,793\n1.92\n18.34\n60.0\n2,506\n2.62\n19.37\n59.9\n1,223\n1.26\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\n1,824\n1.73\n16.22\n60.0\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\n0.565\n13.90\n11.14\n14.78\nAT DECEMBER 31,\nLoans\nTotal assets\nDeposits\nKey shareholders equity\nCommon shares outstanding (000)\n$119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\n89,552\n139,613\n107,309\n15,595\n1,019,503\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees (full year)\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\n1,159\n1,505\n18,180",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000309_segments",
      "report_id": "ID_000309",
      "company_name": "KeyCorp",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer Bank and Commercial Bank",
      "golden_context": "Page 67:\n\n, our federal tax expense and effective tax rate differ from the amount that would be calculated using the\nfederal statutory tax rate primarily due to investments in tax-advantaged assets, such as corporate-owned life\ninsurance, tax credits associated with energy related projects and low-income housing investments, and periodic\nadjustments to our tax reserves as described in Note 14 (“Income Taxes”).\nBusiness Segment Results\nThis section summarizes the financial performance of our two major business segments (operating segments):\nConsumer Bank and Commercial Bank. Note 25 (“Business Segment Reporting”) describes the products and\nservices offered by each of these business segments and provides more detailed financial information pertaining to\nthe segments. Dollars in the charts are presented in millions.\nConsumer Bank\nSegment imperatives\n• Simplification and digitalization to drive growth and operating leverage\n• Relationship-based strategy with a focus on financial wellness as a differentiator\n• Omni-channel approach in delivering products and services\nMarket and business overview\nAs the banking industry moves forward, so do our clients. Anticipating our clients’ needs not only today, but for\ntomorrow and into the future, has become one of the biggest challenges for the banking industry. We view these\nchallenges as an opportunity to help our current client base meet their own goals, as well as attract new and diverse\nclients. In an increasingly digital world focused on",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_cash_flow",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2903m, investing: 1417m, financing: -4266m",
      "golden_context": "Page 118:\n\nConsolidated Statements of Cash Flows\nYear ended December 31,\nDollars in millions 2023 2022 2021\nOPERATING ACTIVITIES\nNet income (loss) $ 967 $ 1,917 $ 2,625\nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\nProvision for credit losses 489 502 (418)\nDepreciation and amortization expense, net 134 137 32\nAccretion of acquired loans 20 27 24\nIncrease in cash surrender value of corporate-owned life insurance (110) (113) (113)\nStock-based compensation expense 121 120 104\nDeferred income taxes (benefit) (108) (27) 146\nProceeds from sales of loans held for sale 8,859 12,496 16,114\nOriginations of loans held for sale, net of repayments (8,434) (10,684) (16,497)\nNet losses (gains) from sale of loans held for sale (135) (151) (282)\nNet losses (gains) on leased equipment (9) 7 (12)\nNet securities and other investments losses (gains) 11 (9) (7)\nNet losses (gains) on sales of fixed assets 18 (7) 18\nNet decrease (increase) in trading account assets (313) (128) 34\nNet transfer of loans held for sale — — —\nOther operating activities, net 1,393 382 (615)\nNET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 2,903 4,469 1,153\nINVESTING ACTIVITIES\nPurchases of intangible assets via acquisitions — (12) —\nCash received (used) in acquisitions, net of cash acquired — (58) (29)\nNet decrease (increase) in short-term investments, excluding acquisitions (8,385) 8,578 5,184\nPurchases of securities available for sale (2,160) (4,473) (28,190)\nProceeds from sales of securities available for sale 1,752 — 1,375\nProceeds from prepayments and maturities of securities available for sale 3,225 4,545 7,623\nProceeds from prepayments and maturities of held-to-maturity securities 1,343 2,291 2,889\nPurchases of held-to-maturity securities (1,194) (3,670) (3)\nPurchases of other investments (599) (667) (55)\nProceeds from sales of other investments 646 17 41\nProceeds from prepayments and maturities of other investments 11 15 26\nNet decrease (increase) in loans, excluding acquisitions, sales, and transfers 6,668 (17,649) (4,276)\nProceeds from sales of portfolio loans 151 157 337\nProceeds from corporate-owned life insurance 96 72 72\nPurchases of premises, equipment, and software (142) (96) (66)\nProceeds from sales of premises and equipment 5 16 4\nNET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 1,417 (10,934) (15,068)\nFINANCING ACTIVITIES\nNet increase (decrease) in deposits, excluding acquisitions 2,992 (9,977) 17,290\nNet increase (decrease) in short-term borrowings (6,372) 8,702 (218)\nNet proceeds from issuance of long-term debt 5,240 16,596 1,203\nPayments on long-term debt (5,052) (8,580) (2,566)\nRepurchases of long-term debt (92) — —\nIssuance of preferred shares — 590 —\nOpen market common share repurchases (38) — (559)\nEmployee equity compensation program Common Share repurchases (34) (44) (32)\nCommon share purchases under ASR program — — (585)\nNet proceeds from reissuance of Common Shares 1 6 27\nCash dividends paid (911) (854) (823)\nNET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (4,266) 6,439 13,737\nNET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 54 (26) (178)\nCASH AND DUE FROM BANKS AT BEGINNING OF YEAR 887 913 1,091\nCASH AND DUE FROM BANKS AT END OF YEAR $ 941 $ 887 $ 913\nAdditional disclosures relative to cash flows:\nInterest paid $ 3,109 $ 601 $ 363\nIncome taxes paid 156 292 277\nNoncash items:\nReduction of secured borrowing and related collateral $ 6 $ 9 $ 9\nLoans transferred to portfolio from held for sale 208 105 87\nLoans transferred to held for sale from portfolio 19 — 3,403\nLoans transferred to other real estate owned 7 6 4\nCMBS risk retentions — 12 28\nABS risk retentions 7 8 11\nSecurities received as consideration — — 2,825",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_company_type",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned",
      "golden_context": "Page 13:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nANNUAL REPORT\nPURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\nDecember 31, 2023\nCommission file number: 1-11302\nKeyCorp\nTrading\nSymbol(s)\nKEY KEY PrI KEY PrJ KEY PrK KEY PrL Name of each exchange\non which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nExact name of registrant as specified in its charter:\nOhio 34-6542451\nState or other jurisdiction of incorporation or organization: I.R.S. Employer Identification Number:\n127 Public Square, Cleveland, Ohio Address of principal executive offices: 44114-1306\nZip Code:\n(216) 689-3000\nRegistrant’s telephone number, including area code:\nSECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:\nTitle of each class\nCommon Shares, $1 par value Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series F)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- Cumulative Preferred Stock, Series G)\nDepositary Shares (each representing a 1/40th interest in a share of Fixed Rate Reset Perpetual Non- Cumulative Preferred Stock, Series H)\nSECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements\nfor the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered pu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_key_financials",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "revenue 6413m, net income 964m, return on average tangible common equity 9.6",
      "golden_context": "Page 12:\n\nYear End December 31\n(dollars in millions, except per share amounts)\n2023 2022 2021 2020 2019\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$6,413\n3,943\n2,470\n4,734\n489\n964\n821\n0.88\n7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\nNotable Items2\nNotable items, after tax\nEarnings per common share impact of notable items\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n239\n183\n(0.19)\nNet income attributable to common shareholders, excluding notable items1,2\nEarnings per common share — assuming dilution, excluding notable items1,2\nReturn on average tangible common equity1,3\nCash efficiency ratio1,3\n-\n-\n9.60\n73.2\n-\n-\n18.34\n60.0\n-\n-\n19.37\n59.9\n-\n-\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n$0.82\n13.02\n10.02\n14.40\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\nAt December 31\nLoans\nTotal assets\nDeposits\nKey shareholders’ equity\nCommon shares outstanding (000)\n$112,606\n188,281\n145,587\n14,637\n936,564\n119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees\n959\n1,217\n17,692\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\nTE = taxable equivalent\n1. From continuing operations\n2. Net income attributable to common shareholders, excluding notable items, is calculated by excluding the after-tax impact of certain notable items, $183 million, from the calculation of reported net in-\ncome attributable to common shareholders. Earnings per share – assuming dilution, excluding notable items, is calculated by excluding from the calculation of reported earnings per share – assuming\ndilution the effect of certain notable items, which is $.19. Please see page 14 of the Fourth Quarter 2019 Earnings Release filed as Exhibit 99.1 to Form 8-K on January 23, 2020, for more information\non the notable items\n3. For the years ended December 31, 2023, December 31, 2022, and December 31, 2021, see pages 89 – 90 of the attached 2023 Form 10-K, for reconciliation to the comparable GAAP measure. For\nthe years ended December 31, 2020 and December 31, 2019, see pages 90 – 91 of the 2021 Form 10-K, filed on February 22, 2022, for reconciliation to the comparable GAAP measure",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_revenue",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "revenue 6413m",
      "golden_context": "Page 12:\n\nYear End December 31\n(dollars in millions, except per share amounts)\n2023 2022 2021 2020 2019\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$6,413\n3,943\n2,470\n4,734\n489\n964\n821\n0.88\n7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\nNotable Items2\nNotable items, after tax\nEarnings per common share impact of notable items\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n239\n183\n(0.19)\nNet income attributable to common shareholders, excluding notable items1,2\nEarnings per common share — assuming dilution, excluding notable items1,2\nReturn on average tangible common equity1,3\nCash efficiency ratio1,3\n-\n-\n9.60\n73.2\n-\n-\n18.34\n60.0\n-\n-\n19.37\n59.9\n-\n-\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n$0.82\n13.02\n10.02\n14.40\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\nAt December 31\nLoans\nTotal assets\nDeposits\nKey shareholders’ equity\nCommon shares outstanding (000)\n$112,606\n188,281\n145,587\n14,637\n936,564\n119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees\n959\n1,217\n17,692\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\nTE = taxable equivalent\n1. From continuing operations\n2. Net income attributable to common shareholders, excluding notable items, is calculated by excluding the after-tax impact of certain notable items, $183 million, from the calculation of reported net in-\ncome attributable to common shareholders. Earnings per share – assuming dilution, excluding notable items, is calculated by excluding from the calculation of reported earnings per share – assuming\ndilution the effect of certain notable items, which is $.19. Please see page 14 of the Fourth Quarter 2019 Earnings Release filed as Exhibit 99.1 to Form 8-K on January 23, 2020, for more information\non the notable items\n3. For the years ended December 31, 2023, December 31, 2022, and December 31, 2021, see pages 89 – 90 of the attached 2023 Form 10-K, for reconciliation to the comparable GAAP measure. For\nthe years ended December 31, 2020 and December 31, 2019, see pages 90 – 91 of the 2021 Form 10-K, filed on February 22, 2022, for reconciliation to the comparable GAAP measure",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_revenue_growth",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "revenue 6413m, prior year 7272m",
      "golden_context": "Page 12:\n\nYear End December 31\n(dollars in millions, except per share amounts)\n2023 2022 2021 2020 2019\nTotal revenue (TE)1\nNet interest income (TE)\nNoninterest income\nNoninterest expense1\nProvision for credit losses1\nNet income1\nNet income attributable to common shareholders1\nEarnings per common share — assuming dilution1\n$6,413\n3,943\n2,470\n4,734\n489\n964\n821\n0.88\n7,272\n4,554\n2,718\n4,410\n502\n1,911\n1,793\n1.92\n7,292\n4,098\n3,194\n4,429\n(418)\n2,612\n2,506\n2.62\n6,715\n4,063\n2,652\n4,109\n1,021\n1,329\n1,223\n1.26\n6,400\n3,941\n2,459\n3,901\n445\n1,708\n1,611\n1.61\nNotable Items2\nNotable items, after tax\nEarnings per common share impact of notable items\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n239\n183\n(0.19)\nNet income attributable to common shareholders, excluding notable items1,2\nEarnings per common share — assuming dilution, excluding notable items1,2\nReturn on average tangible common equity1,3\nCash efficiency ratio1,3\n-\n-\n9.60\n73.2\n-\n-\n18.34\n60.0\n-\n-\n19.37\n59.9\n-\n-\n9.51\n60.2\n1,794\n1.80\n13.46\n59.6\nCash dividends paid (per common share)\nBook value at year end\nTangible book value at year end\nMarket price at year end\n$0.82\n13.02\n10.02\n14.40\n0.79\n11.79\n8.75\n17.42\n0.75\n16.76\n13.72\n23.13\n0.74\n16.53\n13.61\n16.41\n0.71\n15.54\n12.56\n20.24\nAt December 31\nLoans\nTotal assets\nDeposits\nKey shareholders’ equity\nCommon shares outstanding (000)\n$112,606\n188,281\n145,587\n14,637\n936,564\n119,394\n189,813\n142,595\n13,454\n933,325\n101,854\n186,346\n152,572\n17,423\n928,850\n101,185\n170,336\n135,282\n17,981\n975,773\n94,646\n144,988\n111,870\n17,038\n977,189\nBranches\nAutomated teller machines (ATMs)\nAverage full-time equivalent employees\n959\n1,217\n17,692\n972\n1,265\n17,660\n999\n1,317\n16,974\n1,073\n1,386\n16,826\n1,098\n1,420\n17,045\nTE = taxable equivalent\n1. From continuing operations\n2. Net income attributable to common shareholders, excluding notable items, is calculated by excluding the after-tax impact of certain notable items, $183 million, from the calculation of reported net in-\ncome attributable to common shareholders. Earnings per share – assuming dilution, excluding notable items, is calculated by excluding from the calculation of reported earnings per share – assuming\ndilution the effect of certain notable items, which is $.19. Please see page 14 of the Fourth Quarter 2019 Earnings Release filed as Exhibit 99.1 to Form 8-K on January 23, 2020, for more information\non the notable items\n3. For the years ended December 31, 2023, December 31, 2022, and December 31, 2021, see pages 89 – 90 of the attached 2023 Form 10-K, for reconciliation to the comparable GAAP measure. For\nthe years ended December 31, 2020 and December 31, 2019, see pages 90 – 91 of the 2021 Form 10-K, filed on February 22, 2022, for reconciliation to the comparable GAAP measure",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000310_segments",
      "report_id": "ID_000310",
      "company_name": "KeyCorp",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer Bank and Commercial Bank",
      "golden_context": "Page 18:\n\nITEM 1. BUSINESS\nOverview\nKeyCorp, organized in 1958 under the laws of the State of Ohio, is headquartered in Cleveland, Ohio. We are a\nBHC under the BHCA and one of the nation’s largest bank-based financial services companies, with consolidated\ntotal assets of approximately $188.3 billion at December 31, 2023. KeyCorp is the parent holding company for\nKeyBank National Association, its principal subsidiary, through which most of our banking services are provided.\nThrough KeyBank and certain other subsidiaries, we provide a wide range of retail and commercial banking,\ncommercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage\nservicing and special servicing, and investment banking products and services to individual, corporate, and\ninstitutional clients through two major business segments: Consumer Bank and Commercial Bank.\nAs of December 31, 2023, these services were provided across the country through KeyBank’s 959 full-service\nretail banking branches and a network of 1,217 ATMs in 15 states, as well as additional offices, online and mobile\nbanking capabilities, including our national digital bank, Laurel Road, and a telephone banking call center. Additional\ninformation pertaining to our two business segments is included in the “Business Segment Results” section in\nItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this report, and\nin Note 25 (“Business Segment Reporting”) of the Notes to Consolidated Financial Statements presented in Item 8.\nFinancial Statements and Supplementary Data, which are incorporated herein by reference.\nIn addition to the customary banking services of accepting deposits and making loans, our bank and its trust\ncompany subsidiary offer personal and institutional trust custody services, personal financial and planning services,\naccess to mutual funds, treasury services, and international banking services. Through our bank, trust company,\nand registered investment adviser subsidiaries, we provide investment management services to clients that include\nlarge corporate and public retirement plans, foundations and endowments, high-net-worth individuals, and multi-\nemployer trust funds established for providing pension or other benefits to employees.\nWe provide other financial services — both within and outside of our primary banking markets — through various\nnonbank subsidiaries. These services include community development financing, securities underwriting,\ninvestment banking and capital markets products, and brokerage. We also provide merchant services to\nbusinesses.\nKeyCorp is a legal entity separate and distinct from its banks and other subsidiaries. Accordingly, the right of\nKeyCorp, its security holders, and its creditors to participate in any distribution of the assets or earnings of its banks\nand other subsidiaries is subject to the prior claims of the creditors of such banks and other subsidiaries, except to\nthe extent that KeyCorp’s claims in its capacity as a creditor may be recognized.\nWe derive the majority of our revenues within the United States from customers domiciled in the United States.\nRevenue from foreign countries and external customers domiciled in foreign countries was immaterial to our\nconsolidated financial statements.\nDemographics\nOur management structure and basi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_cash_flow",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1258285k, investing: -506164k, financing: -989532k",
      "golden_context": "Page 52:\n\nGenuine Parts Company and Subsidiaries\nConsolidated Statements of Cash Flows\n(In Thousands)\nYear Ended December 31\n2021 2020 2019\n$ 898,790 $ (29,102) $ 621,085\n— (192,497) (25,390)\n898,790 163,395 646,475\n290,971 272,842 257,263\n(7,076) (677) (4,920)\n31,676 (27,722) (55,939)\n25,597 22,621 28,703\n61,063— —\n— 11,356 34,701\n(10,229) — (38,663)\n— 506,721 —\n(21,183) 12,569 (17,589)\n(258,994) (329,237) 777,318 (148,089) (52,322) 957,514 58,462 89,350 (109,812) 57,903 (134,163)\n(54,765)\n82,739\n11,740\n76,937\n1,258,285 (266,136) 26,549 17,738 (284,315) 2,014,522 (153,502) 18,064 387,379 (69,173) 832,519\n(277,873)\n24,387\n434,609\n(724,718)\nOperating activities:\nNet income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net loss from discontinued operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nNet income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income from continuing operations to net cash\nprovided by operating activities:\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Excess tax benefit from share-based compensation . . . . . . . . . . . . . . . . . . . . . Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on software disposal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Realized currency and other divestiture losses . . . . . . . . . . . . . . . . . . . . . . . .\nGain on equity investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Goodwill impairment charge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nOther operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Changes in operating assets and liabilities:\nTrade accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Merchandise inventories, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . Other long-term assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by operating activities from continuing operations . . . . . . . . . . Investing activities:\nPurchases of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . Proceeds from divestitures of businesses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisitions of businesses and other investing activities . . . . . . . . . . . . . . . . . . . . Net cash (used in) provided by investing activities from continuing operations . . . Financing activities:\nProceeds from debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payments on debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based awards exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash used in financing activities from continuing operations . . . . . . . . . . . . . . Cash flows from discontinued operations:\nNet cash flows provided by operating activities from discontinued operations Net cash used in investing activities from discontinued operations . . . . . . . . . . . . .\nNet cash provided by financing activities from discontinued operations . . . . . . . .\nNet cash (used in) provided by discontinued operations . . . . . . . . . . . . . . . . . . . . .\nEffect of exchange rate changes on cash and cash equivalents . . . . . . . . . . . . . . . . Net (decrease) increase in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182,768 (989,532) 2,638,014 (3,533,017) (4,120) (453,277) (96,215) (65,150) (1,513,765) (385,962)\n. . .— 5,039 59,491\n— (11,131) (19,611)\n— — —\n— (6,092) 39,880\n35,741 (38,054) (275,465) 990,166 $ 714,701 603\n(56,555)\n333,547\nSupplemental disclosures of cash flow information\nCash paid during the year for:\nIncome taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . See accompanying notes.\n44\n(506,164) 892,694 (1,053,423) (22,346) (465,649) (333,599) (7,209) (543,595)\n5,037,168\n(4,897,769)\n(11,413)\n(438,890)\n(74,187)\n(871)\n713,174 276,992 $ 990,166 $ 276,992\n$ 305,326 $ 65,732 $ 223,019 $ 91,344 $ 303,736\n$ 95,281",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_company_type",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 7:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOr\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-5690\nGENUINE PARTS COMPANY\n(Exact name of registrant as specified in its charter)\nGA 58-0254510\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n2999 WILDWOOD PARKWAY, ATLANTA, GA (Address of principal executive offices) 30339\n(Zip Code)\nTitle of each class 678-934-5000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nNew York Stock Exchange\nCommon Stock, $1.00 par value per share GPC Securities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nExchange Act. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of\nthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was\nrequired to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to\nbe submitted pursuant to Rule 405 of Regulation S-T (§ 232,495 of this chapter) during the preceding 12 months (or for\nsuch shorter period that the registrant was required to submit such files). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated\nfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”\n“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer È Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended tran-\nsition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)\nof the Exchange Act. ‘\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment\nof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15\nU.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. È\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the\nAct). Yes ‘ No È\nAs of June 30, 2021, the aggregate market value of the registrant’s common stock held by non-af",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_key_financials",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "GPC sales were 18.9bn, 14.1% increase. Net earnings were 899m, diluted EPS were 6.23.",
      "golden_context": "Page 4:\n\nAs a global service organization engaged in the distribution of automotive and industrial replacement parts…\nwe keep the world moving! This is our purpose and the foundation for how we do business.\n2021 was an exceptional year for GPC. Following the unprecedented challenges of 2020, our team was focused\non advancing the strategic priorities for our global automotive and industrial businesses. With the backdrop of our\nmulti-year portfolio optimization strategy, the economic recovery and strong industry fundamentals, we generated\ndouble-digit sales and earnings growth and significantly improved our profit margin. These results drove strong\ncash flow which further supported our balance sheet strength and capital allocation priorities.\nTHE YEAR IN REVIEW\nIn 2021, total GPC sales were $18.9 billion, a 14.1% increase from 2020.\nNet earnings were $899 million and diluted earnings per share were\n$6.23 on a GAAP basis, or $997 million and $6.91 per diluted share on\nan adjusted basis, representing a 31% increase from adjusted earnings\nper share in the prior year and a new record.\nOur strategy for top-line growth includes a combination of organic and\nacquisitive initiatives designed to outpace the industry, improve market\nshare and position the Company for long-term profitable growth. For the\nyear, we improved our operating performance and delivered a 60-basis\npoint increase in segment margin by leveraging our strong top-line\ngrowth, executing pricing and sourcing actions and further streamlining\nour cost structure via initiatives to optimize the productivity of our\ndistribution network. These efforts resulted in our sixth consecutive\nyear of improved gross margins and served to offset inflationary cost\npressures in areas such as wages and freight.\nOur team was also focused on further strengthening our balance sheet\nand maintaining ample liquidity. Working capital improved to 6% of total\nsales and we lowered our debt by $268 million, ending the year with a\nDebt to EBITDA ratio of 1.4x and $2.2 billion in liquidity. Additionally, we\ngenerated $1.3 billion in cash from operations and $1.0 billion in free\ncash flow. We effectively deployed our cash with a balanced approach of\ninvesting for enhanced productivity and growth and returning capital to\nshareholders through dividends and share repurchases.\nBUSINESS UPDATE\nThe Automotive Group generated $12.5 billion in global revenues in\n2021, up 15.5% from 2020. The increase in total sales includes 11%\norganic sales growth driven by the benefits of our strategic initiatives\ncombined with the economic recovery and strong demand throughout\nthe year.\nThe strength in automotive was led by double-digit organic sales\nincreases in the U.S., Europe and Australasia, with Canada posting\nmid-single digit sales growth. In the U.S., our focus on key commercial\nsales programs, B2B and B2C omni-channel investments and pricing\nstrategies drove strong sales with both the Do-it-for-Me (DIFM) and Do-\nit-Yourself (DIY) customer segments. In addition, the economic recovery\nprovided further tailwinds for DIFM demand, with significant improvement\nin miles driven, delays of new car production and elevated used car\nprices driving strong demand. Overall, the favorable sales environment\noutweighed the supply chain challenges encountered throughout the year.\nOur European operations had the strongest sales growth across our\ngeographies, with the U.K. and Benelux outperforming. The growth in\nEurope reflects our focus on key account development, industry leading\ninventory availability and the continued roll-out of the NAPA brand.\nLikewise, in Australasia, the ongoing expansion of our NAPA store\nstrategy and accelerated B2B and B2C digital initiatives drove solid sales\nagain in 2021, with this operation reporting nearly 20% organic growth\non a two-year stack.\nAutomotive sales also benefited from the positive impact of bolt-on\nacquisitions throughout the year. We expanded our global footprint with\nthe addition of several new store groups, including entry into Ireland,\nand invested in online automotive companies to enhance our digital\ncapabilities. The combination of organic and inorganic growth initiatives\ncombined with our ongoing cost and productivity measures resulted in\na 60-basis point improvement in the automotive segment margin. This\nrepresents a 100-basis point increase from 2019.\nThe Industrial Group generated total global sales of $6.3 billion in 2021,\nan 11% increase from 2020 and inclusive of 10% organic sales growth.\nThis group posted double-digit organic sales increases in the second,\nthird and fourth quarters, driven by the positive impact of key sales\ninitiatives, the ongoing industrial recovery and broad increase in customer\nproductivity. With these factors in mind, we achieved sales increases\nacross virtually all product categories and industries served.\nDuring the year, we enhanced our digital sales capabilities to accelerate\ne-commerce growth with existing and new customers, and our strategic\npricing initiatives also generated incremental sales. To effectively leverage\nour top-line growth, the industrial team was also focused on a number\nof gross margin and operational priorities, and we executed on several\nmeasures to advance the productivity of our distribution network. All\nin, we improved our industrial segment margin by 90-basis points, or\n130-basis points from 2019, achieving our fifth consecutive annual\nincrease and highest margin since 2000.\nIn December, we announced the acquisition of Kaman Distribution\nGroup (“KDG”) which closed January 3, 2022. KDG is a leading power\ntransmission, automation and fluid power industrial distributor and\nsolutions provider with operations across the U.S. and approximately\n$1.1 billion in annual sales. This highly synergistic acquisition enhances\nour scale and further strengthens our market-leading position. We look\nforward to creating significant shareholder value as a premier l",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_revenue",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 18870510k",
      "golden_context": "Page 31:\n\nl Allocation\nThe Company’s priorities for disciplined and effective capital allocation remain consistent with prior years.\nIn 2021, we used cash for investments in the form of capital expenditures and bolt-on acquisitions, while also\nreturning capital to our shareholders through cash dividends and share repurchases. We plan to continue to sup-\nport the dividend, which we have increased for 65 consecutive years through 2021.\nRESULTS OF OPERATIONS\nOur results of operations are summarized below for the years ended December 31, 2021 and 2020.\nYear Ended December 31,\n(In thousands, except per share data) 2021 2020\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,870,510 Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,634,136 Net income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . $ 898,790 $16,537,433\n$ 5,654,841\n$ 163,395\nDiluted net income from continuing operations per common share . . . . $ 6.23 $ 1.13\nNet Sales\nConsolidated net sales for the year ended December 31, 2021 totaled $18.9 billion, up 14.1% from 2020.\nThe increase in net sales is due to a 10.5% comparable sales increase, the favorable impact of foreign currency\nand other of 2.1% and a 1.5% positive impact from acquisitions.\nThe Company’s comparable sales growth reflects both an increase in sales volume and product inflation as\ncompared to the year ended December 31, 2020. Higher sales volume was driven primarily by the increase in\nconsumer activity associated with the reopening of our key markets and the execution of our strategic growth\ninitiatives throughout the year. Additionally, sales were positively impacted by price inflation of approximately\n3% for the year ended December 31, 2021. With our global growth initiatives and strong industry fundamentals,\nwe believe we are well positioned for both near-term and sustainable long-term sales growth.\nAutomotive Group\nNet sales for the Automotive Group (“Automotive”) were $12.5 billion in 2021, a 15.5% increase from\n2020. The increase in sales consists of an approximate 11.0% increase in comparable sales, a 2.5% favorable\nimpact of currency translation and other and a 2.0% contribution from acquisitions. Foreign currency translation\nwas positively impacted by our automotive businesses across all regions.\nIn 2021, total Automotive revenues were up approximately 14.3% in the first quarter, up 28.1% in the sec-\nond quarter, up 8.2% in the third quarter and up 13.1% in the fourth quarter. All periods reflect a strong recovery\nfrom the decline in demand caused by COVID-19 in 2020. We remain optimistic that our Automotive sales\ntrends will continue to show positive growth as the global markets fully recover. Positive trends related to the\noverall number and age of the vehicle population and the continued improvement in miles driven remain suppor-\ntive of sustained demand for automotive after",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_revenue_growth",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 18870510k, prior year 16537433k",
      "golden_context": "Page 31:\n\nl Allocation\nThe Company’s priorities for disciplined and effective capital allocation remain consistent with prior years.\nIn 2021, we used cash for investments in the form of capital expenditures and bolt-on acquisitions, while also\nreturning capital to our shareholders through cash dividends and share repurchases. We plan to continue to sup-\nport the dividend, which we have increased for 65 consecutive years through 2021.\nRESULTS OF OPERATIONS\nOur results of operations are summarized below for the years ended December 31, 2021 and 2020.\nYear Ended December 31,\n(In thousands, except per share data) 2021 2020\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,870,510 Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,634,136 Net income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . $ 898,790 $16,537,433\n$ 5,654,841\n$ 163,395\nDiluted net income from continuing operations per common share . . . . $ 6.23 $ 1.13\nNet Sales\nConsolidated net sales for the year ended December 31, 2021 totaled $18.9 billion, up 14.1% from 2020.\nThe increase in net sales is due to a 10.5% comparable sales increase, the favorable impact of foreign currency\nand other of 2.1% and a 1.5% positive impact from acquisitions.\nThe Company’s comparable sales growth reflects both an increase in sales volume and product inflation as\ncompared to the year ended December 31, 2020. Higher sales volume was driven primarily by the increase in\nconsumer activity associated with the reopening of our key markets and the execution of our strategic growth\ninitiatives throughout the year. Additionally, sales were positively impacted by price inflation of approximately\n3% for the year ended December 31, 2021. With our global growth initiatives and strong industry fundamentals,\nwe believe we are well positioned for both near-term and sustainable long-term sales growth.\nAutomotive Group\nNet sales for the Automotive Group (“Automotive”) were $12.5 billion in 2021, a 15.5% increase from\n2020. The increase in sales consists of an approximate 11.0% increase in comparable sales, a 2.5% favorable\nimpact of currency translation and other and a 2.0% contribution from acquisitions. Foreign currency translation\nwas positively impacted by our automotive businesses across all regions.\nIn 2021, total Automotive revenues were up approximately 14.3% in the first quarter, up 28.1% in the sec-\nond quarter, up 8.2% in the third quarter and up 13.1% in the fourth quarter. All periods reflect a strong recovery\nfrom the decline in demand caused by COVID-19 in 2020. We remain optimistic that our Automotive sales\ntrends will continue to show positive growth as the global markets fully recover. Positive trends related to the\noverall number and age of the vehicle population and the continued improvement in miles driven remain suppor-\ntive of sustained demand for automotive after",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000311_segments",
      "report_id": "ID_000311",
      "company_name": "Genuine Parts",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automative and industrial parts",
      "golden_context": "Page 61:\n\nompany and Subsidiaries\nNotes to Consolidated Financial Statements — (Continued)\nDecember 31, 2021\n2. Segment Data\nThe Company’s reportable segments consist of automotive and industrial parts. Within the reportable seg-\nments, certain of the Company’s operating segments are aggregated since they have similar economic character-\nistics, products and services, type and class of customers, and distribution methods.\nThe Company’s automotive segment distributes replacement parts (other than body parts) for substantially\nall makes and models of automobiles, trucks, and other vehicles.\nThe Company’s industrial segment distributes a wide variety of industrial bearings, mechanical and fluid\npower transmission equipment, including hydraulic and pneumatic products, material handling components and\nrelated parts and supplies.\nInter-segment sales are not significant. Segment profit for each industry segment is calculated as net sales\nless operating expenses excluding general corporate expenses, interest expense, equity in income from investees,\nintangible asset amortization, income attributable to noncontrolling interests and other unallocated amounts that\nare driven by corporate initiatives. Approximately $437,874 and $245,373 of income before income taxes were\ngenerated in jurisdictions outside the U.S. for the years ended December 31, 2021, and 2019, respectively.\nApproximately $327,226 of loss before income taxes was generated in jurisdictions outside the U.S. for the year\nended December 31, 2020. Net sales and net property, plant and equipment by country relate directly to the\nCompany’s operations in the respective country. Corporate assets are principally cash and cash equivalents and\nheadquarters’ facilities and equipment.\nThe following table presents a summary of the Company’s reportable segment financial information from\ncontinuing operations:\n2021 2020 2019\n$12,544,131 6,326,379 $10,860,695 5,676,738 $10,993,902\n6,528,332\n$18,870,510 $16,537,433 $17,522,234\n$ 1,073,427 595,232 $ 867,743 481,854 $ 831,951\n521,830\nNet sales:\nAutomotive Industrial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000312_cash_flow",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1466971k, investing: -1684240k, financing: -205101k",
      "golden_context": "Page 50:\n\nGenuine Parts Company and Subsidiaries\nConsolidated Statements of Cash Flows\n(In Thousands)\nYear Ended December 31\n2022 2021 2020\nOperating activities:\nNet income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net loss from discontinued operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nNet income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income from continuing operations to net cash\nprovided by operating activities:\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Goodwill impairment charge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nOther operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Changes in operating assets and liabilities: . . . . . . . . . . . . . . . . . . . . . . . . . . .\nTrade accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Merchandise inventories, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by operating activities from continuing operations . . . . . . . . . . Investing activities:\nPurchases of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . Proceeds from divestitures of businesses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from settlement of net investment hedge . . . . . . . . . . . . . . . . . . . . . . . . . Acquisitions and other investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash (used in) provided by investing activities from continuing operations . . . Financing activities:\nProceeds from debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payments on debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based awards exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by (used in) financing activities from continuing operations . . . Cash flows from discontinued operations:\nNet cash flows provided by operating activities from discontinued operations Net cash used in investing activities from discontinued operations . . . . . . . . . . . . .\nNet cash provided by financing activities from discontinued operations . . . . . . . .\nNet cash (used in) provided by discontinued operations . . . . . . . . . . . . . . . . . . . . .\nEffect of exchange rate changes on cash and cash equivalents . . . . . . . . . . . . . . . . Net (decrease) increase in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205,101 . . .— Supplemental disclosures of cash flow information\nCash paid during the year for:\nIncome taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . See accompanying notes.\n43\n$ 1,182,701 $ 898,790 $ (29,102)\n— — (192,497)\n1,182,701 898,790 163,395\n347,819 290,971 272,842\n2,220 31,676 (27,722)\n38,058 25,597 22,621\n(102,803)— —\n— — 506,721\n18,377 22,575 23,248\n(244,371) (380,420) 676,406 (71,016) (258,994) (329,237) 777,318 (200,411) 957,514\n58,462\n89,350\n(51,909)\n1,466,971 1,258,285 2,014,522\n(339,632) (266,136) (153,502)\n145,007 26,549 18,064\n33,604 17,738 387,379\n158,441— —\n(1,681,660) (284,315) (69,173)\n(1,684,240) 5,108,641 (4,147,773) (17,377) (495,917) (222,726) (19,747) (506,164) 892,694 (1,053,423) (22,346) (465,649) (333,599) (7,209) (61,238) 714,701 $ 653,463 182,768\n(989,532) 2,638,014\n(3,533,017)\n(4,120)\n(453,277)\n(96,215)\n(65,150)\n(1,513,765)\n— 5,039\n— — (11,131)\n— — —\n(49,070) — — (6,092)\n(38,054) 35,741\n(275,465) 990,166 $ 714,701 713,174\n276,992\n$ 990,166\n$ 362,859 $ 73,368 $ 305,326 $ 65,732 $ 223,019\n$ 91,344",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000312_company_type",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 7:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOr\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-5690\nGENUINE PARTS COMPANY\n(Exact name of registrant as specified in its charter)\nGA 58-0254510\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n2999 WILDWOOD PARKWAY, ATLANTA, GA 30339\n(Address of principal executive offices) (Zip Code)\n678-934-5000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $1.00 par value per share GPC New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nExchange Act. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of\nthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was\nrequired to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to\nbe submitted pursuant to Rule 405 of Regulation S-T (§ 232,495 of this chapter) during the preceding 12 months (or for\nsuch shorter period that the registrant was required to submit such files). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated\nfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”\n“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer È Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended tran-\nsition period for complying with any new or revised financial accounting standa",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000312_key_financials",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "total sales 22.1bn, adjusted net earnings were 1.2bn, 8.34 per diluted share",
      "golden_context": "Page 4:\n\nTHE YEAR IN REVIEW\nIn 2022, GPC reported new records for both sales and earnings per\nshare. Total sales were $22.1 billion, a 17.1% increase from 2021, and\nnet earnings were $1.2 billion, with diluted earnings per share of $8.31\non a GAAP basis. Adjusted net earnings were $1.2 billion, or $8.34 per\ndiluted share, representing a 21% increase from adjusted earnings per\nshare in the prior year.\nThroughout the year, our team was focused on executing key initiatives\nto drive sales growth in excess of the market, enhance operational\nefficiencies, improve profitability and generate cash flow. Working\ntogether, we were agile in navigating the challenges presented by the\nmacro-economy and successful in delivering market share gains and\ndriving positive momentum in our top and bottom-line results. We\nalso invested in talent and technology to maximize the impact of our\ninitiatives. We made progress across our global operations to advance\nour pricing strategies and optimize our supply chain and network\nfootprint. Our focus in these areas helped drive a 60-basis point\nimprovement in segment margin.\nOur team was also focused on further strengthening our balance sheet\nand maintaining ample liquidity. Working capital improved to 5% of\ntotal sales, and we ended the year with a Debt to EBITDA ratio of 1.7x,\nwhich is well within our targeted ratio of 2.0-2.5x. Our liquidity is also\nstrong, at $2.2 billion. With the increase in earnings and improvement in\nworking capital, we generated $1.5 billion in cash from operations and\n$1.1 billion in free cash flow, up 17% and 14% from 2021, respectively.\nWe effectively deployed our cash with a balanced approach of investing\nfor growth and enhanced productivity, while returning capital to\nshareholders through dividends and share repurchases.\nBUSINESS UPDATE\nTotal sales for the Automotive Group were $13.7 billion in 2022, up\n8.9% from the prior year. The increase in total sales includes 9%\norganic sales growth driven by the steady demand for auto parts, a\nstrong pricing environment and the execution of key strategic initiatives.\nAgain this year, the strength in automotive was broad-based across our\noperations, with high single-digit organic sales increases in the U.S.,\nEurope and Australasia, and double-digit sales growth in Canada. These\nresults equate to an impressive range of 19% to 21% two-year organic\nsales stacks in each of our regions.\nOur core growth was driven by the execution of key initiatives to deliver\nbest-in-class parts availability, quality service and effective sales\nprograms. Examples include our partnerships with national and regional\nrepair centers, expansion of our banner programs with independent\ngarages such as NAPA AutoCare and the roll-out of the NAPA brand\nacross the geographies where we compete. Our focus in these areas\ndrove demand across our Do-it-for-Me (DIFM) and Do-it-Yourself (DIY)\ncustomer segments, with our strongest growth on the DIFM side.\nAutomotive demand also benefited from positive industry fundamentals,\nincluding a large and growing vehicle fleet, aging vehicles, continued\nincreases in miles driven and limited new car inventory. Finally, mid-to-high\nsingle-digit price inflation contributed to our core sales growth in 2022.\nOur global automotive teams were also active with strategic and ongoing\nbolt-on acquisitions in 2022. We added 138 net new stores across\nour global footprint, including 68 new stores in the U.S. and another\n61 new stores in Europe, primarily associated with our expansion in\nGermany and entry into Spain and Portugal. The combination of organic\nand acquisitive growth initiatives combined with additional measures\nto create efficiencies in our operations, produced an 11% increase\nin our automotive segment profit and an 8.7% segment margin. This\nrepresents a 10-basis point increase from 2021 and a 110-basis point\nincrease from 2019.\nTotal sales for the Industrial Group were $8.4 billion in 2022, up 33.2%\nfrom the prior year. The increase in total sales includes 17% organic\nsales growth driven by strong customer demand and execution of\nstrategic priorities. Combined, these tailwinds drove double-digit sales\nincreases across nearly all product categories and major industries\nserved by the industrial team.\nDuring the year, we enhanced our selling capabilities by further\nleveraging data and technology and expanding our value-added solutions\nfor our customers. These include products and services in categories\nlike automation, conveyance, fluid power and repair, which now\nrepresent approximately $1 billion in annual revenues. In addition, our\nstrategic initiatives around pricing, category management and supply\nchain are driving increased productivity and efficiencies.\nWe complemented these initiatives with the strategic acquisition of\nKaman Distribution Group (“KDG”) in early 2022 to enhance our scale\nand strengthen our market-leading position in the industry. We made\nsignificant progress integrating KDG with Motion and realized over $30\nmillion in synergies in 2022, well ahead of our year-one plan. The strong\nsales and disciplined operating performance, including the benefits\nof the KDG acquisition, resulted in a 49% increase in our industrial\nsegment profit and a record segment margin of 10.5%. This represents\na 110-basis point increase from 2021 and a 240-basis point increase\nfrom 2019.\nKEY MANAGEMENT CHANGES\nIn May 2022, Carol Yancey retired as EVP and chief financial officer\nafter an incredible 30-year career with the company. We also welcomed\nBert Nappier as our new EVP and chief financial officer. Bert joined GPC\nfollowing a distinguished 25-year career, including the previous 17 years\nin key leadership roles with FedEx Corporation, and he has done an\noutstanding job in his first year with the company.\nIn January 2023, Will Stengel was appointed to the expanded role of\npresident and chief operating officer. Will joined the company in 2019\nas EVP and chief transformation officer and was named president in\n2021. Will has been actively involved in all aspects of the organization\nand has partnered with our global teams and assumed a leadership role\nin defining the GPC strategic vision, prioritizing enterprise initiatives and\ndelivering outstanding performance. We are excited to have Will in this\nnew role and look forward to his future contributions.\nAlso in January 2023, Chris Galla was named SVP, general counsel\nand appointed to the executive leadership team. Chris has been with\nthe company for 18 years and has played an instrumental role in a\nvariety of areas, including risk management, mergers and acquisitions\nand real estate. As general counsel, Chris oversees a talented team\nof professionals responsible for all legal matters and our governance,\nenvironmental and compliance efforts. We look forward to Chris’s\ncontinued contributions to the company.\nENVIRONMENTAL AND SOCIAL RESPONSIBILITY\nIn 2022, we made further progress in our environmental and social\ninitiatives. There is momentum and focus around our climate and energy\ninitiatives, which are outlined in our 2022 Sustainability Report. For\nexample, during 2022 we completed a comprehensive measurement of\nour global carbon footprint, and we have been implementing our carbon\nemissions abatement strategy across our operations.\nWe also advanced our diversity, equity and inclusion strategies focused\non people, culture and the communities in which we operate. As an\nexample, we established business resource groups that empower\nteammates to come together with others who share their interests\nand experiences to enhance and develop their personal networks and\nleadership skills. We believe that our sustainability and DEI efforts are an\nimportant element of creating long-term shareholder value, and we invite\nyou to visit the sustainability page on GPC’s website to learn more about\nour company-wide commitment to this important initiative.\nFINAL THOUGHTS\nWe celebrated our 95th year of",
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    },
    {
      "unique_key": "ID_000312_revenue",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 22095973k",
      "golden_context": "Page 30:\n\nOur results of operations are summarized below for the years ended December 31, 2022 and 2021.\nYear Ended December 31,\n2022 2021\n(in thousands) $ % of Sales $ % of Sales $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . $22,095,973 100.0% $18,870,510 100.0% $3,225,463 Cost of goods sold . . . . . . . . . . . . . . . . . . . 14,355,869 65.0% 12,236,374 64.8% 2,119,495 17.3%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . Operating expenses:\nSelling, administrative and other\nexpenses . . . . . . . . . . . . . . . . . . . . . 5,758,295 26.1% 5,162,506 27.4% 595,789 11.5%\nDepreciation and amortization . . . . . . 347,819 1.6% 290,971 1.5% 56,848 19.5%\nProvision for doubtful accounts . . . . . 19,791 0.1% 17,739 0.1% 2,052 11.6%\nTotal operating expenses . . . . . . . . . . 6,125,905 27.7% 5,471,216 29.0% 654,689 12.0%\nNon-operating expenses (income):\nInterest expense, net . . . . . . . . . . . . . . 73,887 0.3% 62,150 0.3% 11,737 18.9%\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . (32,290) (0.1)% (99,576) (0.5)% 67,286 (67.6)%\nTotal non-operating expenses (income) . . . 41,597 0.2% (37,426) (0.2)% 79,023 (211.1)%\nIncome before income taxes . . . . . . . . . . . 1,572,602 7.1% 1,200,346 6.4% 372,256 31.0%\nIncome taxes . . . . . . . . . . . . . . . . . . . . . . . 389,901 1.8% 301,556 1.6% 88,345 29.3%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,182,701 31.6%\n5.4% $ 898,790 4.8% $ 283,911 Year Ended December 31,\n(in thousands, except per share data) 2022 2021 $ Change % Change\nDiluted EPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjusted EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Automotive segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . Industrial segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Automotive segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . Industrial segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8.31 $1,999,329 $1,191,674 $ 886,636 $2,078,310 8.7% 10.5% 9.4% $ 6.23 $1,681,515 $1,073,427 $ 595,232 $1,668,659 8.6%\n9.4%\n8.8%\n$ 2.08 $317,814 $118,247 $291,404 $409,651 33.4%\n18.9%\n11.0%\n49.0%\n24.5%\nNet Sales\nOur net sales increase of 17.1% includes an 11.8% comparable sales increase and an 8.6% positive impact\nfrom acquisitions, slightly offset by an unfavorable impact of foreign currency of 3.3%.\nStrong customer demand, which was consistent throughout 2022, and a favorable pricing environment were\nthe primary drivers of our comparable sales growth. We deployed strategic pricing increases throughout 2",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000312_revenue_growth",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 22095973k, prior year 18870510k",
      "golden_context": "Page 30:\n\nOur results of operations are summarized below for the years ended December 31, 2022 and 2021.\nYear Ended December 31,\n2022 2021\n(in thousands) $ % of Sales $ % of Sales $ Change % Change\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . $22,095,973 100.0% $18,870,510 100.0% $3,225,463 Cost of goods sold . . . . . . . . . . . . . . . . . . . 14,355,869 65.0% 12,236,374 64.8% 2,119,495 17.3%\nGross profit . . . . . . . . . . . . . . . . . . . . . . . . Operating expenses:\nSelling, administrative and other\nexpenses . . . . . . . . . . . . . . . . . . . . . 5,758,295 26.1% 5,162,506 27.4% 595,789 11.5%\nDepreciation and amortization . . . . . . 347,819 1.6% 290,971 1.5% 56,848 19.5%\nProvision for doubtful accounts . . . . . 19,791 0.1% 17,739 0.1% 2,052 11.6%\nTotal operating expenses . . . . . . . . . . 6,125,905 27.7% 5,471,216 29.0% 654,689 12.0%\nNon-operating expenses (income):\nInterest expense, net . . . . . . . . . . . . . . 73,887 0.3% 62,150 0.3% 11,737 18.9%\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . (32,290) (0.1)% (99,576) (0.5)% 67,286 (67.6)%\nTotal non-operating expenses (income) . . . 41,597 0.2% (37,426) (0.2)% 79,023 (211.1)%\nIncome before income taxes . . . . . . . . . . . 1,572,602 7.1% 1,200,346 6.4% 372,256 31.0%\nIncome taxes . . . . . . . . . . . . . . . . . . . . . . . 389,901 1.8% 301,556 1.6% 88,345 29.3%\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,182,701 31.6%\n5.4% $ 898,790 4.8% $ 283,911 Year Ended December 31,\n(in thousands, except per share data) 2022 2021 $ Change % Change\nDiluted EPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjusted EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Automotive segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . Industrial segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Automotive segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . Industrial segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total segment margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8.31 $1,999,329 $1,191,674 $ 886,636 $2,078,310 8.7% 10.5% 9.4% $ 6.23 $1,681,515 $1,073,427 $ 595,232 $1,668,659 8.6%\n9.4%\n8.8%\n$ 2.08 $317,814 $118,247 $291,404 $409,651 33.4%\n18.9%\n11.0%\n49.0%\n24.5%\nNet Sales\nOur net sales increase of 17.1% includes an 11.8% comparable sales increase and an 8.6% positive impact\nfrom acquisitions, slightly offset by an unfavorable impact of foreign currency of 3.3%.\nStrong customer demand, which was consistent throughout 2022, and a favorable pricing environment were\nthe primary drivers of our comparable sales growth. We deployed strategic pricing increases throughout 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000312_segments",
      "report_id": "ID_000312",
      "company_name": "Genuine Parts",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automotive Parts Group and Industrial Parts Group",
      "golden_context": "Page 58:\n\npply chain finance programs and a rollforward of the\nrelated amounts due to vendors participating in these programs. The new standard does not affect the recognition,\nmeasurement or financial statement presentation of any amounts due. The ASU becomes effective January 1,\n2023, except for the rollforward requirement, which becomes effective January 1, 2024.\n2. Segment Data\nOur reportable segments consist of the Automotive Parts Group (“Automotive”) and Industrial Parts Group\n(“Industrial”). Within the reportable segments, certain of our operating segments are aggregated since they have\nsimilar economic characteristics, products and services, type and class of customers, and distribution methods.\nOur Automotive segment distributes replacement parts (other than body parts) for substantially all makes\nand models of automobiles, trucks, and other vehicles.\nOur Industrial segment distributes a wide variety of industrial bearings, mechanical and fluid power trans-\nmission equipment, including hydraulic and pneumatic products, material handling components and related parts\nand supplies.\nInter-segment sales are not significant. Segment profit for each industry segment is calculated as net sales\nless costs of goods sold, operating expenses, and certain non-operating expenses attributable to the segment (e.g.,\nforeign currency), excluding general corporate expenses, net interest expense, intangible asset amortization, and\n51",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_cash_flow",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1435610k, investing: -705792k, financing: -292161k",
      "golden_context": "Page 52:\n\nGenuine Parts Company and Subsidiaries\nConsolidated Statements of Cash Flows\n(In Thousands)\nYear Ended December 31,\n2023 2022 2021\nOperating activities:\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income to net cash provided by\noperating activities:\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nOther operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Changes in operating assets and liabilities:\nTrade accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . Merchandise inventories, net . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . Investing activities:\nPurchases of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of property, plant and equipment . . . . . . . . . . . . . . Proceeds from divestitures of businesses . . . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from settlement of net investment hedge . . . . . . . . . . . . . . . .\nAcquisitions and other investing activities . . . . . . . . . . . . . . . . . . . . . . Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . Financing activities:\nProceeds from debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payments on debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Shares issued from employee incentive plans . . . . . . . . . . . . . . . . . . . . Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash (used in) provided by financing activities . . . . . . . . . . . . . . . Effect of exchange rate changes on cash and cash equivalents . . . . . . Net increase (decrease) in cash and cash equivalents . . . . . . . . . . . . . . Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . . . . Supplemental disclosures of cash flow information\nCash paid during the year for:\nIncome taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . See accompanying notes.\n44\n$ 1,316,524 $ 1,182,701 $ 898,790\n350,529 42,114 57,226 (41,626) 347,819 290,971\n2,220 31,676\n38,058 25,597\n— (102,803) —\n18,377 22,575\n31,989 (69,148) 2,038 (254,036) (244,371) (380,420) 676,406 (71,016) (258,994)\n(329,237)\n777,318\n(200,411)\n(705,792) 3,769,132 (3,237,959) (24,145) (526,674) (261,473) (11,042) 1,435,610 1,466,971 1,258,285\n(512,675) (339,632) (266,136)\n25,099 145,007 26,549\n10,754 33,604 17,738\n80,482— —\n— 158,441 —\n(309,452) (1,681,660) (284,315)\n(1,684,240) 5,108,641 (4,147,773) (17,377) (495,917) (222,726) (19,747) (506,164)\n892,694\n(1,053,423)\n(22,346)\n(465,649)\n(333,599)\n(7,209)\n(292,161) 10,887 205,101 (49,070) (989,532)\n(38,054)\n448,544 653,463 (61,238) 714,701 (275,465)\n990,166\n$ 1,102,007 $ 653,463 $ 714,701\n$ 366,270 $ 90,405 $ 362,859 $ 73,368 $ 305,326\n$ 65,732",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_company_type",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 7:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOr\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF\nTHE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number: 1-5690\nGENUINE PARTS COMPANY\n(Exact name of registrant as specified in its charter)\nGA 58-0254510\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n2999 WILDWOOD PARKWAY, ATLANTA, GA 30339\n(Address of principal executive offices) (Zip Code)\n678-934-5000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, $1.00 par value per share GPC New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes È No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nExchange Act. Yes ‘ No È\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of\nthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was\nrequired to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes È No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to\nbe submitted pursuant to Rule 405 of Regulation S-T (§ 232,495 of this chapter) during the preceding 12 months (or for\nsuch shorter period that the registrant was required to submit such files). Yes È No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated\nfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”\n“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer È Accelerated filer ‘\nNon-accelerated filer ‘ Smaller reporting company ‘\nEmerging growth company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended tran-\nsition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)\nof the Exchange Act. ‘\nIndicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment\nof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15\nU.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. È\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial\nstatements of the registrant included in the filing reflect the correction of an error to previously issued financial state-\nments. ‘\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of\nincentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period\npursuant to §240.10D-1(b). ‘\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the\nAct). Yes ‘ No È\nAs of June 30, 2023, the aggregate market value of the registrant’s common stock held by non-affiliates of the\nregistrant was approximately $19.3 billion based on the closing sale price as reported on the New York Stock Exchange.\nThere were 139,423,152 shares of the company’s common stock outstanding as of February 19, 2024.\nDOCUMENTS INCORPORATED BY REFERENCE\nSpecifically identified portions of the company’s definitive Proxy Statement for the Annual Meeting of Share-\nholders to be held on April 29, 2024 are incorporated by reference into Part III of this Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_key_financials",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "23.1bn sales, 4.5% growth, 1.3bn net earnings",
      "golden_context": "Page 4:\n\n2023 IN REVIEW\nWe had solid results across the board:\n• Sales of $23.1 billion, a 4.5% increase from 2022\n•\n_x0007_ Net earnings of $1.3 billion, or $9.33 per diluted share on a GAAP\nbasis, representing a 12.3% increase from the year prior and an\n11.9% increase from adjusted earnings per share in the prior year\n•\n_x0007_ Working capital of ~8% of total sales, ending the year with a Debt to\nEBITDA ratio of 1.8x, below our target of 2.0x-2.5x\n•\n_x0007_ Ample liquidity of $2.6 billion and with the increase in net earnings\nand improvement in working capital, generated ~$1.4 billion in cash\nfrom operations and over $920 million in free cash flow.\nWe believe these strong financial results are a testament to the power\nand benefit of our diversified business mix and geographic diversity in\n2023, during which we:\n•\n_x0007_ Invested in talent, bringing on teammates with new skill sets and\ndiverse backgrounds.\n•\n_x0007_ Invested in advanced data and analytics platforms, including\nopening a new global technology center in Poland, to help digitize\nand drive efficiencies in our business, enabling us to make better\ndecisions, faster than we ever have before.\n•\n_x0007_ Invested in our supply chain, with new automated facilities in\nAustralasia, France, and here in the U.S.\n•\n_x0007_ Returned significant cash to our shareholders through\ndividends and share repurchases, including over $525 million\nin dividend payments.\nBUSINESS UPDATE\nTotal sales for the Industrial Group were $8.8 billion in 2023, an\nincrease of 4.9% from the prior year and reflects a 4.8% increase in\ncomparable sales growth, driven in part by our strong focus on our\ncustomers and the execution of our strategic initiatives. While the\nindustrial and manufacturing economies moderated throughout the\nyear as expected, the Motion team focused on serving their customers\nand delivering value. Motion grew sales in almost every end market we\nserve with double-digit growth in five of the 14 different end markets.\nWe continued to deliver strong profit margin expansion, finishing the year\nwith a 12.5% segment margin, an increase of 200 basis points from the\nprior year. Our strategic initiatives around pricing, category management\nand supply chain are driving increased productivity and efficiencies. The\ncontinued rollout of our fulfillment center model is a great example of\nthe exciting progress being made within our supply chain initiatives to\nenhance the customer experience, while lowering costs and improving\ninventory productivity. We also effectively completed the integration of\nKaman Distribution Group, nearly one year ahead of schedule. Through\ndedication and hard work, the Motion team delivered approximately\n$70 million of synergies, exceeding our $50 million target.\nTotal sales for the Automotive Group were $14.2 billion in 2023, an\nincrease of 4.2% from the prior year. The increase in Automotive sales\nincludes a 2.1% increase in comparable sales growth. During 2023, we\nhad strong growth in each of our international Automotive businesses,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_revenue",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "23.1bn",
      "golden_context": "Page 4:\n\n2023 IN REVIEW\nWe had solid results across the board:\n• Sales of $23.1 billion, a 4.5% increase from 2022\n•\n_x0007_ Net earnings of $1.3 billion, or $9.33 per diluted share on a GAAP\nbasis, representing a 12.3% increase from the year prior and an\n11.9% increase from adjusted earnings per share in the prior year\n•\n_x0007_ Working capital of ~8% of total sales, ending the year with a Debt to\nEBITDA ratio of 1.8x, below our target of 2.0x-2.5x\n•\n_x0007_ Ample liquidity of $2.6 billion and with the increase in net earnings\nand improvement in working capital, generated ~$1.4 billion in cash\nfrom operations and over $920 million in free cash flow.\nWe believe these strong financial results are a testament to the power\nand benefit of our diversified business mix and geographic diversity in\n2023, during which we:\n•\n_x0007_ Invested in talent, bringing on teammates with new skill sets and\ndiverse backgrounds.\n•\n_x0007_ Invested in advanced data and analytics platforms, including\nopening a new global technology center in Poland, to help digitize\nand drive efficiencies in our business, enabling us to make better\ndecisions, faster than we ever have before.\n•\n_x0007_ Invested in our supply chain, with new automated facilities in\nAustralasia, France, and here in the U.S.\n•\n_x0007_ Returned significant cash to our shareholders through\ndividends and share repurchases, including over $525 million\nin dividend payments.\nBUSINESS UPDATE\nTotal sales for the Industrial Group were $8.8 billion in 2023, an\nincrease of 4.9% from the prior year and reflects a 4.8% increase in\ncomparable sales growth, driven in part by our strong focus on our\ncustomers and the execution of our strategic initiatives. While the\nindustrial and manufacturing economies moderated throughout the\nyear as expected, the Motion team focused on serving their customers\nand delivering value. Motion grew sales in almost every end market we\nserve with double-digit growth in five of the 14 different end markets.\nWe continued to deliver strong profit margin expansion, finishing the year\nwith a 12.5% segment margin, an increase of 200 basis points from the\nprior year. Our strategic initiatives around pricing, category management\nand supply chain are driving increased productivity and efficiencies. The\ncontinued rollout of our fulfillment center model is a great example of\nthe exciting progress being made within our supply chain initiatives to\nenhance the customer experience, while lowering costs and improving\ninventory productivity. We also effectively completed the integration of\nKaman Distribution Group, nearly one year ahead of schedule. Through\ndedication and hard work, the Motion team delivered approximately\n$70 million of synergies, exceeding our $50 million target.\nTotal sales for the Automotive Group were $14.2 billion in 2023, an\nincrease of 4.2% from the prior year. The increase in Automotive sales\nincludes a 2.1% increase in comparable sales growth. During 2023, we\nhad strong growth in each of our international Automotive businesses,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_revenue_growth",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "4.5% increase",
      "golden_context": "Page 4:\n\n2023 IN REVIEW\nWe had solid results across the board:\n• Sales of $23.1 billion, a 4.5% increase from 2022\n•\n_x0007_ Net earnings of $1.3 billion, or $9.33 per diluted share on a GAAP\nbasis, representing a 12.3% increase from the year prior and an\n11.9% increase from adjusted earnings per share in the prior year\n•\n_x0007_ Working capital of ~8% of total sales, ending the year with a Debt to\nEBITDA ratio of 1.8x, below our target of 2.0x-2.5x\n•\n_x0007_ Ample liquidity of $2.6 billion and with the increase in net earnings\nand improvement in working capital, generated ~$1.4 billion in cash\nfrom operations and over $920 million in free cash flow.\nWe believe these strong financial results are a testament to the power\nand benefit of our diversified business mix and geographic diversity in\n2023, during which we:\n•\n_x0007_ Invested in talent, bringing on teammates with new skill sets and\ndiverse backgrounds.\n•\n_x0007_ Invested in advanced data and analytics platforms, including\nopening a new global technology center in Poland, to help digitize\nand drive efficiencies in our business, enabling us to make better\ndecisions, faster than we ever have before.\n•\n_x0007_ Invested in our supply chain, with new automated facilities in\nAustralasia, France, and here in the U.S.\n•\n_x0007_ Returned significant cash to our shareholders through\ndividends and share repurchases, including over $525 million\nin dividend payments.\nBUSINESS UPDATE\nTotal sales for the Industrial Group were $8.8 billion in 2023, an\nincrease of 4.9% from the prior year and reflects a 4.8% increase in\ncomparable sales growth, driven in part by our strong focus on our\ncustomers and the execution of our strategic initiatives. While the\nindustrial and manufacturing economies moderated throughout the\nyear as expected, the Motion team focused on serving their customers\nand delivering value. Motion grew sales in almost every end market we\nserve with double-digit growth in five of the 14 different end markets.\nWe continued to deliver strong profit margin expansion, finishing the year\nwith a 12.5% segment margin, an increase of 200 basis points from the\nprior year. Our strategic initiatives around pricing, category management\nand supply chain are driving increased productivity and efficiencies. The\ncontinued rollout of our fulfillment center model is a great example of\nthe exciting progress being made within our supply chain initiatives to\nenhance the customer experience, while lowering costs and improving\ninventory productivity. We also effectively completed the integration of\nKaman Distribution Group, nearly one year ahead of schedule. Through\ndedication and hard work, the Motion team delivered approximately\n$70 million of synergies, exceeding our $50 million target.\nTotal sales for the Automotive Group were $14.2 billion in 2023, an\nincrease of 4.2% from the prior year. The increase in Automotive sales\nincludes a 2.1% increase in comparable sales growth. During 2023, we\nhad strong growth in each of our international Automotive businesses,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000313_segments",
      "report_id": "ID_000313",
      "company_name": "Genuine Parts",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automotive Parts Group and Industrial Parts Group",
      "golden_context": "Page 10:\n\n,700 locations, primarily in North America, Europe, as well as Australia and New Zealand\n(“Australasia”). We offer outstanding service, an industry-leading assortment of replacement parts, extensive\nsupply chain and distribution capabilities, and enhanced technology solutions.\nAs used in this report, “we,” “us,” “our,” “GPC,” and the “company” refers to GPC and its subsidiaries,\nexcept as otherwise indicated by the context; and the terms “automotive parts” and “industrial parts” refer to\nreplacement parts in each respective category.\nOUR PURPOSE & STRATEGY\nWe keep the world moving — this is our purpose and the foundation for how we do business. We are one\nglobal team unified by our mission to be an employer of choice, supplier of choice, valued customer, responsible\ncorporate citizen and investment of choice for our shareholders. We strive to be a respected community member\nthat gives back to the communities in which we operate. In order to execute this mission, we align our resources\nwith strategic areas of focus for our operations. We focus on our market-leading automotive and industrial busi-\nnesses to deliver profitable growth, operational efficiencies and strong cash flow.\nWe are organized into two business segments: our Automotive Parts Group (“Automotive”) and our\nIndustrial Parts Group (“Industrial”). In the automotive landscape, we see a positive long-term growth outlook\nacross the markets we serve supported by an increase in miles driven, a growing and aging car parc, increasing\nvehicle complexity, and a growing opportunity with electric vehicles. In the industrial landscape, we see dis-\nruptions in the global supply chain creating opportunities with nearshoring, a strong outlook for automation and\nrobotics solutions, the need for industrial expertise due to an aging technical workforce and diversified end\nmarket opportunities. Our business segments create a competitive differentiation in two distinct and growing\nmarkets with compelling shareholder value.\nWe believe our primary competitive advantages are our: (1) global presence and brand strength;\n(2) industry-leading positions in two distinct, but complementary markets; (3) extensive supply chain and dis-\ntribution capabilities; and (4) enhanced technology solutions.\nOur strategic financial objectives complement our mission and drive value for all our stakeholders. These\nfinancial objectives include: (1) revenue growth in excess of market growth; (2) continuously improving operat-\ning margins; (3) maintaining a strong balance sheet and cash flows; and (4) effective capital allocation. Our\nstrategy is designed to position us for long-term profitable growth and enhance shareholder value.\nOUR SEGMENTS\nAUTOMOTIVE\nOur Automotive segment, which represents approximately 62% of total GPC net sales, is the largest global\nautomotive network of parts and care. We distribute automotive parts, accessories and solutions in North Amer-\nica, Europe and Australasia. Our Automotive businesses offer complete inventory, cataloging, marketing, train-\ning and other programs to the aftermarket in each of these regions, distinguishing our business from the\ncompetition.\nOur global Automotive network sells to customers in both commercial do-it-for-me (“DIFM”) and retail\ndo-it-yourself (“DIY”) segments of the market and covers substantially all global motor vehicle models. Our\nDIFM customers include local, reg",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_cash_flow",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 565.3m, investing: -698.1m, financing: -9.5m",
      "golden_context": "Page 28:\n\nhe foreseeable future. Additionally, in the event that suitable businesses are available for acquisition upon acceptable\nterms, the Company may obtain all or a portion of the financing for these acquisitions through the incurrence of additional\nborrowings.\nAt December 31, 2021, working capital was $1,198.0 million and the Company’s current ratio was 3.5 to 1. At December\n31, 2021, the Company’s cash and cash equivalents totaled $855.4 million, of which $457.5 million was held outside of the\nUnited States. At December 31, 2021, there was no balance outstanding under the Revolving Facility and $7.2 million of\noutstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of $792.8 million. The\nCompany believes that additional borrowings through various financing alternatives remain available, if required.\nCash Flow Summary\nThe following table is derived from the Consolidated Statements of Cash Flows:\nYear Ended December 31,\n(In millions) 2021 2020\nNet cash flows provided by (used in):\nOperating activities $ 565.3 $ 569.3\nInvesting activities (698.1) (172.6)\nFinancing activities (9.5) (42.6)\nOperating Activities\nCash flows provided by operating activities decreased $4.0 million to $565.3 million in 2021, primarily due to increases in\nworking capital discussed below, mostly offset by higher earnings.\n26\nOperating working capital, calculated as accounts receivable plus inventory minus accounts payable, is used by\nmanagement as a measurement of operational results as well as the short-term liquidity of the Company. The following table\ndetails operating working capital as of December 31, 2021 and 2020:\n(In millions) 2021 2020\nReceivables - net $ 356.4 $ 293.1\nInventories 370.4 289.9\nLess: Trade accounts payable 178.8 152.0\nOperating working capital $ 548.0 $ 431.0\nOperating working capital increased $117.0 million to $548.0 million at December 31, 2021, with acquisition, divestiture\nand foreign currency translation impacts pri",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_company_type",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10235\nIDEX CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 36-3555336\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n3100 Sanders Road, Suite 301, Northbrook, Illinois (Address of principal executive offices) 60062\n(Zip Code)\nRegistrant’s telephone number, including area code: (847) 498-7070\nTitle of each class Common Stock, par value $.01 per share Securities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) IEX Name of each exchange on which registered\nNew York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files). Yes þ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting\ncompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No þ\nThe aggregate market value, as of the last business day of the registrant’s most recently completed second fiscal quarter, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_key_financials",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Sales of 2.8bn (increase of 18%), operating income 637m, EBITDA 723.8m, cash flows provided by operating activities of 565.3m",
      "golden_context": "Page 24:\n\nal activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2021, the Company achieved a record year in sales, earnings per share and capital deployment as robust demand,\ntargeted growth initiatives and the ability to capture price drove a strong rebound from 2020. Throughout the year, teams\nsteadily navigated continued headwinds arising from material availability, logistical challenges and pandemic-related\nabsenteeism exacerbated by the emergence of new COVID-19 variants. Despite these challenges, the Company expanded\noperating margin in a highly inflationary environment as previous investments to optimize cost position and productivity\ninitiatives delivered value together with diligent price capture where possible. Finally, the Company delivered strong cash flow\nand deployed record capital, both within its existing portfolio and with the addition of ABEL and Airtech to the IDEX family of\nbusinesses.\nSelect key financial results for the year ended December 31, 2021 when compared to 2020 were as follows:\n• Sales of $2.8 billion increased 18%; organic sales (which excludes acquisitions/divestitures and foreign currency\ntranslation) were up 12%.\n• Operating income of $637.0 million increased 22%. Adjusted operating income increased 23% to $661.4 million.\n• Operating margin of 23.0% was up 90 basis points. Adjusted operating margin increased 110 basis points to 23.9%.\n• Net income attributable to IDEX of $449.4 million increased 19%. Adjusted net income attributable to IDEX increased\n21% to $481.6 million.\n• EBITDA of $723.8 million was 26% of sales and covered interest expense by almost 18 times. Adjusted EBITDA of\n$765.4 million was 28% of sales and covered interest expense by almost 19 times.\n• Diluted EPS attributable to IDEX of $5.88 increased $0.94, or 19%. Adjusted EPS attributable to IDEX of $6.30\nincreased $1.11, or 21%.\n• Cash flows provided by operating activities of $565.3 million was flat as strong operating results were offset by\nvolume-driven increases in working capital. Free cash flow of $492.6 million was 102% of adjusted net income\nattributable to IDEX.\nFocus and Outlook for 2022\nDuring 2022, the Company’s primary focus will be to:\n• Navigate the Short Term while Innovating for the Future. Demand for the Company’s differentiated technology\nremains strong. However, the degree to which the difficult supply chain and COVID-19 environment will persist\nremains highly variable, and the Company will continue to navigate the day-to-day operational challenges posed by\nexternal conditions. At the same time, the Company remains focused on the longer-term. The Company will continue\nto support efficient, innovative, value-creating processes and invest in resources necessary to ensure its businesses are\nwell-positioned to take advantage of the gro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_revenue",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "2.8bn",
      "golden_context": "Page 24:\n\nal activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2021, the Company achieved a record year in sales, earnings per share and capital deployment as robust demand,\ntargeted growth initiatives and the ability to capture price drove a strong rebound from 2020. Throughout the year, teams\nsteadily navigated continued headwinds arising from material availability, logistical challenges and pandemic-related\nabsenteeism exacerbated by the emergence of new COVID-19 variants. Despite these challenges, the Company expanded\noperating margin in a highly inflationary environment as previous investments to optimize cost position and productivity\ninitiatives delivered value together with diligent price capture where possible. Finally, the Company delivered strong cash flow\nand deployed record capital, both within its existing portfolio and with the addition of ABEL and Airtech to the IDEX family of\nbusinesses.\nSelect key financial results for the year ended December 31, 2021 when compared to 2020 were as follows:\n• Sales of $2.8 billion increased 18%; organic sales (which excludes acquisitions/divestitures and foreign currency\ntranslation) were up 12%.\n• Operating income of $637.0 million increased 22%. Adjusted operating income increased 23% to $661.4 million.\n• Operating margin of 23.0% was up 90 basis points. Adjusted operating margin increased 110 basis points to 23.9%.\n• Net income attributable to IDEX of $449.4 million increased 19%. Adjusted net income attributable to IDEX increased\n21% to $481.6 million.\n• EBITDA of $723.8 million was 26% of sales and covered interest expense by almost 18 times. Adjusted EBITDA of\n$765.4 million was 28% of sales and covered interest expense by almost 19 times.\n• Diluted EPS attributable to IDEX of $5.88 increased $0.94, or 19%. Adjusted EPS attributable to IDEX of $6.30\nincreased $1.11, or 21%.\n• Cash flows provided by operating activities of $565.3 million was flat as strong operating results were offset by\nvolume-driven increases in working capital. Free cash flow of $492.6 million was 102% of adjusted net income\nattributable to IDEX.\nFocus and Outlook for 2022\nDuring 2022, the Company’s primary focus will be to:\n• Navigate the Short Term while Innovating for the Future. Demand for the Company’s differentiated technology\nremains strong. However, the degree to which the difficult supply chain and COVID-19 environment will persist\nremains highly variable, and the Company will continue to navigate the day-to-day operational challenges posed by\nexternal conditions. At the same time, the Company remains focused on the longer-term. The Company will continue\nto support efficient, innovative, value-creating processes and invest in resources necessary to ensure its businesses are\nwell-positioned to take advantage of the gro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_revenue_growth",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "18% growth",
      "golden_context": "Page 24:\n\nal activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2021, the Company achieved a record year in sales, earnings per share and capital deployment as robust demand,\ntargeted growth initiatives and the ability to capture price drove a strong rebound from 2020. Throughout the year, teams\nsteadily navigated continued headwinds arising from material availability, logistical challenges and pandemic-related\nabsenteeism exacerbated by the emergence of new COVID-19 variants. Despite these challenges, the Company expanded\noperating margin in a highly inflationary environment as previous investments to optimize cost position and productivity\ninitiatives delivered value together with diligent price capture where possible. Finally, the Company delivered strong cash flow\nand deployed record capital, both within its existing portfolio and with the addition of ABEL and Airtech to the IDEX family of\nbusinesses.\nSelect key financial results for the year ended December 31, 2021 when compared to 2020 were as follows:\n• Sales of $2.8 billion increased 18%; organic sales (which excludes acquisitions/divestitures and foreign currency\ntranslation) were up 12%.\n• Operating income of $637.0 million increased 22%. Adjusted operating income increased 23% to $661.4 million.\n• Operating margin of 23.0% was up 90 basis points. Adjusted operating margin increased 110 basis points to 23.9%.\n• Net income attributable to IDEX of $449.4 million increased 19%. Adjusted net income attributable to IDEX increased\n21% to $481.6 million.\n• EBITDA of $723.8 million was 26% of sales and covered interest expense by almost 18 times. Adjusted EBITDA of\n$765.4 million was 28% of sales and covered interest expense by almost 19 times.\n• Diluted EPS attributable to IDEX of $5.88 increased $0.94, or 19%. Adjusted EPS attributable to IDEX of $6.30\nincreased $1.11, or 21%.\n• Cash flows provided by operating activities of $565.3 million was flat as strong operating results were offset by\nvolume-driven increases in working capital. Free cash flow of $492.6 million was 102% of adjusted net income\nattributable to IDEX.\nFocus and Outlook for 2022\nDuring 2022, the Company’s primary focus will be to:\n• Navigate the Short Term while Innovating for the Future. Demand for the Company’s differentiated technology\nremains strong. However, the degree to which the difficult supply chain and COVID-19 environment will persist\nremains highly variable, and the Company will continue to navigate the day-to-day operational challenges posed by\nexternal conditions. At the same time, the Company remains focused on the longer-term. The Company will continue\nto support efficient, innovative, value-creating processes and invest in resources necessary to ensure its businesses are\nwell-positioned to take advantage of the gro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000314_segments",
      "report_id": "ID_000314",
      "company_name": "IDEX",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”)",
      "golden_context": "Page 4:\n\nThe Company has three reportable segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”). The segments are structured around how to best serve customer\nneeds, with each segment consisting of businesses that have product and end market similarities as well as common distribution\nmethods and production processes. This structure enables management efficiency, aligns IDEX’s operations with its focus on\norganic growth, strategic acquisitions and capital allocation priorities and provides transparency about the Company’s\nperformance to external stakeholders.\nWithin its three reportable segments, the Company maintains 13 reporting units. IDEX believes that each of its reporting\nunits is a leader in its products and services. The Company also believes that its strong financial performance has been\nattributable to its ability to design and engineer specialized quality products coupled with its ability to successfully identify,\nacquire and integrate strategic acquisitions. The table below illustrates the three reportable segments and the reporting units\nwithin each segment.\nFMT HST FSDP\nPumps Scientific Fluidics & Optics Fire & Safety\nWater Sealing Solutions Dispensing\nEnergy",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_cash_flow",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "cash flows provided by operating activities of 557.4m",
      "golden_context": "Page 26:\n\nures prepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the\nreconciliations from these results should be carefully evaluated.\n2022 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2022, the Company achieved a record year in sales driven by robust demand. The Company’s ability to capture price\namid inflation pressures and its focus on execution drove record earnings per share. Finally, the Company deployed record\ncapital, within its existing portfolio, with the acquisition of three businesses - Nexsight, KZValve and Muon Group - and\nthrough share repurchases to support our future goals.\nSelect key financial results for the year ended December 31, 2022 when compared to 2021 were as follows:\n• Sales of $3.2 billion increased 15%; organic sales were up 13%.\n• Net income of $586.7 million increased 31%; Net income margin of 18.4% increased 210 basis points.\n• Diluted EPS attributable to IDEX of $7.71 increased $1.83, or 31%; Adjusted diluted EPS attributable to IDEX of\n$8.12 increased $1.25, or 18%.\n• Adjusted EBITDA of $884.2 million increased 16%; Adjusted EBITDA margin of 27.9% increased 20 basis points.\n• Cash flows provided by operating activities of $557.4 million were down as higher earnings were more than offset by\nan increased investment in working capital. Free cash flow of $489.4 million was 79% of adjusted net income\nattributable to IDEX.\nFocus for 2023\nDuring 2023, the Company’s primary focus will be on:\n• Foundational Execution. During 2021 and 2022, the Company experienced both double-digit organic growth and a\nchallenging operating environment characterized by global supply chain constraints, record inflation and continuing\neffects of the COVID-19 environment. In 2023, the Company will renew its focus on the core elements of its operating\nmodel that are designed to drive efficiency, innovation and growth. As market conditions continue to evolve, the\nCompany believes it will leverage its process-driven fundamental business practices to drive above-market growth and\noperational excellence.\n• Building Great Global Teams. The Company’s teams have demonstrated their ability to quickly adapt to challenges\nand changing conditions as well as to solve critical problems for customers. The Company is committed to cultivating\ntalent to fuel future growth and onboarding leaders who are committed to IDEX core values, talent development and\ncreating an inspiring Company culture. Diversity, Equity and Inclusion continues to be an area of focus, creating\nenvironments where people feel they belong and can bring their true selves to work every day.\n• Capital Deployment. The Company deployed $1.5 billion over the last two years on growth business opportunities,\nwill continue to identify both organic and inorganic opportunities and believes there will be a high quality pipeline for\npotential acquisitions. The Company believes that its strong operating cash flow and balance sheet enable deployment\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_company_type",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10235\nIDEX CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 36-3555336\n(State or other jurisdiction of\nincorporation or organization)\n3100 Sanders Road, Suite 301, Northbrook, Illinois (Address of principal executive offices) (I.R.S. Employer\nIdentification No.)\n60062\n(Zip Code)\nRegistrant’s telephone number, including area code: (847) 498-7070\nTitle of each class Common Stock, par value $.01 per share Securities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) IEX Name of each exchange on which registered\nNew York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes þ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No þ\nThe aggregate market value, as of the last business day of the registrant’s most recently completed second fiscal quarter, of the common\nstock (based on the June 30, 2022 closing price of $181.63) held by non-affiliates of IDEX Corporation was $13,718,682,816.\nThe number of shares outstanding of IDEX Corporation’s common stock, par value $.01 per share, as of Februa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_key_financials",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Sales 3.2bn, increase of 15%, organic sales up 13%, adjusted EBITDA 884.2m, diluted EPS attributable to IDEX of 7.71",
      "golden_context": "Page 26:\n\nures prepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the\nreconciliations from these results should be carefully evaluated.\n2022 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2022, the Company achieved a record year in sales driven by robust demand. The Company’s ability to capture price\namid inflation pressures and its focus on execution drove record earnings per share. Finally, the Company deployed record\ncapital, within its existing portfolio, with the acquisition of three businesses - Nexsight, KZValve and Muon Group - and\nthrough share repurchases to support our future goals.\nSelect key financial results for the year ended December 31, 2022 when compared to 2021 were as follows:\n• Sales of $3.2 billion increased 15%; organic sales were up 13%.\n• Net income of $586.7 million increased 31%; Net income margin of 18.4% increased 210 basis points.\n• Diluted EPS attributable to IDEX of $7.71 increased $1.83, or 31%; Adjusted diluted EPS attributable to IDEX of\n$8.12 increased $1.25, or 18%.\n• Adjusted EBITDA of $884.2 million increased 16%; Adjusted EBITDA margin of 27.9% increased 20 basis points.\n• Cash flows provided by operating activities of $557.4 million were down as higher earnings were more than offset by\nan increased investment in working capital. Free cash flow of $489.4 million was 79% of adjusted net income\nattributable to IDEX.\nFocus for 2023\nDuring 2023, the Company’s primary focus will be on:\n• Foundational Execution. During 2021 and 2022, the Company experienced both double-digit organic growth and a\nchallenging operating environment characterized by global supply chain constraints, record inflation and continuing\neffects of the COVID-19 environment. In 2023, the Company will renew its focus on the core elements of its operating\nmodel that are designed to drive efficiency, innovation and growth. As market conditions continue to evolve, the\nCompany believes it will leverage its process-driven fundamental business practices to drive above-market growth and\noperational excellence.\n• Building Great Global Teams. The Company’s teams have demonstrated their ability to quickly adapt to challenges\nand changing conditions as well as to solve critical problems for customers. The Company is committed to cultivating\ntalent to fuel future growth and onboarding leaders who are committed to IDEX core values, talent development and\ncreating an inspiring Company culture. Diversity, Equity and Inclusion continues to be an area of focus, creating\nenvironments where people feel they belong and can bring their true selves to work every day.\n• Capital Deployment. The Company deployed $1.5 billion over the last two years on growth business opportunities,\nwill continue to identify both organic and inorganic opportunities and believes there will be a high quality pipeline for\npotential acquisitions. The Company believes that its strong operating cash flow and balance sheet enable deployment\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_revenue",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Sales 3.2bn",
      "golden_context": "Page 26:\n\nures prepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the\nreconciliations from these results should be carefully evaluated.\n2022 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2022, the Company achieved a record year in sales driven by robust demand. The Company’s ability to capture price\namid inflation pressures and its focus on execution drove record earnings per share. Finally, the Company deployed record\ncapital, within its existing portfolio, with the acquisition of three businesses - Nexsight, KZValve and Muon Group - and\nthrough share repurchases to support our future goals.\nSelect key financial results for the year ended December 31, 2022 when compared to 2021 were as follows:\n• Sales of $3.2 billion increased 15%; organic sales were up 13%.\n• Net income of $586.7 million increased 31%; Net income margin of 18.4% increased 210 basis points.\n• Diluted EPS attributable to IDEX of $7.71 increased $1.83, or 31%; Adjusted diluted EPS attributable to IDEX of\n$8.12 increased $1.25, or 18%.\n• Adjusted EBITDA of $884.2 million increased 16%; Adjusted EBITDA margin of 27.9% increased 20 basis points.\n• Cash flows provided by operating activities of $557.4 million were down as higher earnings were more than offset by\nan increased investment in working capital. Free cash flow of $489.4 million was 79% of adjusted net income\nattributable to IDEX.\nFocus for 2023\nDuring 2023, the Company’s primary focus will be on:\n• Foundational Execution. During 2021 and 2022, the Company experienced both double-digit organic growth and a\nchallenging operating environment characterized by global supply chain constraints, record inflation and continuing\neffects of the COVID-19 environment. In 2023, the Company will renew its focus on the core elements of its operating\nmodel that are designed to drive efficiency, innovation and growth. As market conditions continue to evolve, the\nCompany believes it will leverage its process-driven fundamental business practices to drive above-market growth and\noperational excellence.\n• Building Great Global Teams. The Company’s teams have demonstrated their ability to quickly adapt to challenges\nand changing conditions as well as to solve critical problems for customers. The Company is committed to cultivating\ntalent to fuel future growth and onboarding leaders who are committed to IDEX core values, talent development and\ncreating an inspiring Company culture. Diversity, Equity and Inclusion continues to be an area of focus, creating\nenvironments where people feel they belong and can bring their true selves to work every day.\n• Capital Deployment. The Company deployed $1.5 billion over the last two years on growth business opportunities,\nwill continue to identify both organic and inorganic opportunities and believes there will be a high quality pipeline for\npotential acquisitions. The Company believes that its strong operating cash flow and balance sheet enable deployment\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_revenue_growth",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "increase of 15%, organic sales up 13%",
      "golden_context": "Page 26:\n\nures prepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the\nreconciliations from these results should be carefully evaluated.\n2022 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business and by the relationship\nof the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and overall\nindustrial activity are important factors that influence the demand for IDEX’s products.\nIn 2022, the Company achieved a record year in sales driven by robust demand. The Company’s ability to capture price\namid inflation pressures and its focus on execution drove record earnings per share. Finally, the Company deployed record\ncapital, within its existing portfolio, with the acquisition of three businesses - Nexsight, KZValve and Muon Group - and\nthrough share repurchases to support our future goals.\nSelect key financial results for the year ended December 31, 2022 when compared to 2021 were as follows:\n• Sales of $3.2 billion increased 15%; organic sales were up 13%.\n• Net income of $586.7 million increased 31%; Net income margin of 18.4% increased 210 basis points.\n• Diluted EPS attributable to IDEX of $7.71 increased $1.83, or 31%; Adjusted diluted EPS attributable to IDEX of\n$8.12 increased $1.25, or 18%.\n• Adjusted EBITDA of $884.2 million increased 16%; Adjusted EBITDA margin of 27.9% increased 20 basis points.\n• Cash flows provided by operating activities of $557.4 million were down as higher earnings were more than offset by\nan increased investment in working capital. Free cash flow of $489.4 million was 79% of adjusted net income\nattributable to IDEX.\nFocus for 2023\nDuring 2023, the Company’s primary focus will be on:\n• Foundational Execution. During 2021 and 2022, the Company experienced both double-digit organic growth and a\nchallenging operating environment characterized by global supply chain constraints, record inflation and continuing\neffects of the COVID-19 environment. In 2023, the Company will renew its focus on the core elements of its operating\nmodel that are designed to drive efficiency, innovation and growth. As market conditions continue to evolve, the\nCompany believes it will leverage its process-driven fundamental business practices to drive above-market growth and\noperational excellence.\n• Building Great Global Teams. The Company’s teams have demonstrated their ability to quickly adapt to challenges\nand changing conditions as well as to solve critical problems for customers. The Company is committed to cultivating\ntalent to fuel future growth and onboarding leaders who are committed to IDEX core values, talent development and\ncreating an inspiring Company culture. Diversity, Equity and Inclusion continues to be an area of focus, creating\nenvironments where people feel they belong and can bring their true selves to work every day.\n• Capital Deployment. The Company deployed $1.5 billion over the last two years on growth business opportunities,\nwill continue to identify both organic and inorganic opportunities and believes there will be a high quality pipeline for\npotential acquisitions. The Company believes that its strong operating cash flow and balance sheet enable deployment\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000315_segments",
      "report_id": "ID_000315",
      "company_name": "IDEX",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”)",
      "golden_context": "Page 4:\n\nThe Company has three reportable segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”). The segments are structured around how to best serve customer\nneeds, with each segment consisting of businesses that have product and end market similarities as well as common distribution\nmethods and production processes. This structure enables management efficiency, aligns IDEX’s operations with its focus on\norganic growth, strategic acquisitions and capital allocation priorities and provides transparency about the Company’s\nperformance to external stakeholders.\nWithin its three reportable segments, the Company maintains 13 reporting units. IDEX believes that each of its reporting\nunits is a leader in its products and services. The Company also believes that its strong financial performance has been\nattributable to its ability to design and engineer specialized quality products coupled with its ability to successfully identify,\nacquire and integrate strategic acquisitions. The table below illustrates the three reportable segments and the reporting units\nwithin each segment.\nFMT HST FSDP\nPumps Scientific Fluidics & Optics Fire & Safety\nWater Sealing Solutions Dispensing\nEnergy Performance Pneumatic Technologies BAND-IT\nValves Material Processing Technologies",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_cash_flow",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "cash flows from operating activities 716.7m",
      "golden_context": "Page 28:\n\nrtain non-GAAP financial measures that have been defined and reconciled to their most directly\ncomparable financial measure prepared in accordance with accounting principles generally accepted in the United States of\nAmerica (“U.S. GAAP”) under the headings “Non-GAAP Disclosures” and “Free Cash Flow.” This discussion also includes\nOperating working capital which has been defined under the heading “Liquidity and Capital Resources.” The non-GAAP\nfinancial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures\nprepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the reconciliations\nfrom these results should be carefully evaluated.\n2023 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business, as well as by the\nrelationship of the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and\noverall industrial activity are important factors that influence the demand for IDEX’s products.\nDuring 2023, the Company delivered strong operating performance amid sharp volume declines as customers recalibrated\ninventory levels and order patterns following the easing of global supply chain constraints and reduced lead times. While\ncustomer inventory destocking resulted in lower sales volumes, most prominently experienced by the Company’s Health &\nScience Technologies segment, the Company realized strong price/cost and achieved favorable operational productivity across\nits segments. Net income attributable to IDEX and Adjusted EBITDA were $596.1 million and $899.6 million, respectively, in\n2023, both up 2% from the prior year. Cash flows from operating activities were $716.7 million during the year ended\nDecember 31, 2023, reflecting inventory reduction efforts and resulting in record free cash flow of $626.8 million during the\nyear. Finally, the Company deployed capital with the acquisition of two businesses – Iridian Spectral Technologies (“Iridian”)\nand STC Material Solutions (“STC”).\n25\nTable of Contents\nSelect key financial results for the year ended December 31, 2023 when compared to 2022 were as follows:\nYear Ended December 31,\n(Dollars in millions, except per share amounts) 2023 2022\n% / bps\nChange\nNet sales $ 3,273.9 $ 3,181.9 3%\nAdjusted net sales* 3,273.9 3,164.0 3%\nOrganic net sales growth* (1%)\nGross profit 1,446.9 1,426.9 1%\nAdjusted gross profit* 1,448.5 1,417.5 2%\nNet income attributable to IDEX 596.1 586.9 2%\nAdjusted net income attributable to IDEX* 623.6 618.1 1%\nAdjusted EBITDA* 899.6 884.2 2%\nDiluted EPS attributable to IDEX 7.85 7.71 2%\nAdjusted diluted EPS attributable to IDEX* 8.22 8.12 1%\nCash flows from operating activities 716.7 557.4 29%\nFree cash flow* 626.8 489.4 28%\nGross margin 44.2 % 44.8 % (60) bps\nAdjusted gross margin* 44.2 % 44.8 % (60) bps\nNet income margin 18.2 % 18.4 % (20) bps\nAdjusted EBITDA margin* 27.5 % 27.9 % (40) bps\n*These are non-GAAP measures. See the definitions of these non-GAAP measures and reconciliations to their most directly comparable GAAP financial\nmeasures under the headings “Non-GAAP Disclosures” and “Free Cash Flow.”\n2024 Outlook\nMoving into 2024, the majority of our businesses are currently experiencing stable demand and seeing early signs of\nimprovement, particularly in the Fluid & Metering Technologies segment. However, while the life sciences and analytical\ninstrumentation markets served by approximately one-third of the Health & Science Technologies segment appear stable, these\nmarkets are not yet showing signs of near-term recovery. We continue to believe in the long-term growth potential of these end\nmarkets and believe we are well positioned to support growth as demand increases. Additionally, we expect the Dispensing\nreporting unit within the Company’s Fire & Safety/Diversified Products segment to contract in 2024, due to the completion of\nthe fleet refreshment cycle of our North American customers in 2023. These declines are expected to be partly offset by growth\nin the Dispensing reporting unit in emergi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_company_type",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-10235\nIDEX CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 36-3555336\n(State or other jurisdiction of\nincorporation or organization)\n3100 Sanders Road, Suite 301, Northbrook, Illinois (Address of principal executive offices) (I.R.S. Employer\nIdentification No.)\n60062\n(Zip Code)\nRegistrant’s telephone number, including area code: (847) 498-7070\nTitle of each class Common Stock, par value $.01 per share Securities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbol(s) IEX Name of each exchange on which registered\nNew York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ¨ No þ\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes þ No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No þ\nThe aggregate market value, as of the last business day of the registrant’s most recently completed second fiscal quarter, of the common\nstock (based on the June 30, 2023 closing price of $215.26) held by non-affiliates of IDEX Corporation was $16,267,670,265.\nThe number of shares outstanding of IDEX Corporation’s common stock, par value $.01 per share, as of February 16,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_key_financials",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net income attributable to IDEX 596.1m, adjusted EBITDA 899.6m, cash flows from operating activities 716.7m",
      "golden_context": "Page 28:\n\nrtain non-GAAP financial measures that have been defined and reconciled to their most directly\ncomparable financial measure prepared in accordance with accounting principles generally accepted in the United States of\nAmerica (“U.S. GAAP”) under the headings “Non-GAAP Disclosures” and “Free Cash Flow.” This discussion also includes\nOperating working capital which has been defined under the heading “Liquidity and Capital Resources.” The non-GAAP\nfinancial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures\nprepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the reconciliations\nfrom these results should be carefully evaluated.\n2023 Overview\nIDEX is an applied solutions provider specializing in the manufacture of fluid and metering technologies, health and\nscience technologies and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold\nin niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels\nof industrial activity and economic conditions in the U.S. and in other countries where it does business, as well as by the\nrelationship of the U.S. dollar to other currencies. Levels of capacity utilization and capital spending in certain industries and\noverall industrial activity are important factors that influence the demand for IDEX’s products.\nDuring 2023, the Company delivered strong operating performance amid sharp volume declines as customers recalibrated\ninventory levels and order patterns following the easing of global supply chain constraints and reduced lead times. While\ncustomer inventory destocking resulted in lower sales volumes, most prominently experienced by the Company’s Health &\nScience Technologies segment, the Company realized strong price/cost and achieved favorable operational productivity across\nits segments. Net income attributable to IDEX and Adjusted EBITDA were $596.1 million and $899.6 million, respectively, in\n2023, both up 2% from the prior year. Cash flows from operating activities were $716.7 million during the year ended\nDecember 31, 2023, reflecting inventory reduction efforts and resulting in record free cash flow of $626.8 million during the\nyear. Finally, the Company deployed capital with the acquisition of two businesses – Iridian Spectral Technologies (“Iridian”)\nand STC Material Solutions (“STC”).\n25\nTable of Contents\nSelect key financial results for the year ended December 31, 2023 when compared to 2022 were as follows:\nYear Ended December 31,\n(Dollars in millions, except per share amounts) 2023 2022\n% / bps\nChange\nNet sales $ 3,273.9 $ 3,181.9 3%\nAdjusted net sales* 3,273.9 3,164.0 3%\nOrganic net sales growth* (1%)\nGross profit 1,446.9 1,426.9 1%\nAdjusted gross profit* 1,448.5 1,417.5 2%\nNet income attributable to IDEX 596.1 586.9 2%\nAdjusted net income attributable to IDEX* 623.6 618.1 1%\nAdjusted EBITDA* 899.6 884.2 2%\nDiluted EPS attributable to IDEX 7.85 7.71 2%\nAdjusted diluted EPS attributable to IDEX* 8.22 8.12 1%\nCash flows from operating activities 716.7 557.4 29%\nFree cash flow* 626.8 489.4 28%\nGross margin 44.2 % 44.8 % (60) bps\nAdjusted gross margin* 44.2 % 44.8 % (60) bps\nNet income margin 18.2 % 18.4 % (20) bps\nAdjusted EBITDA margin* 27.5 % 27.9 % (40) bps\n*These are non-GAAP measures. See the definitions of these non-GAAP measures and reconciliations to their most directly comparable GAAP financial\nmeasures under the headings “Non-GAAP Disclosures” and “Free Cash Flow.”\n2024 Outlook\nMoving into 2024, the majority of our businesses are currently experiencing stable demand and seeing early signs of\nimprovement, particularly in the Fluid & Metering Technologies segment. However, while the life sciences and analytical\ninstrumentation markets served by approximately one-third of the Health & Science Technologies segment appear stable, these\nmarkets are not yet showing signs of near-term recovery. We continue to believe in the long-term growth potential of these end\nmarkets and believe we are well positioned to support growth as demand increases. Additionally, we expect the Dispensing\nreporting unit within the Company’s Fire & Safety/Diversified Products segment to contract in 2024, due to the completion of\nthe fleet refreshment cycle of our North American customers in 2023. These declines are expected to be partly offset by growth\nin the Dispensing reporting unit in emergi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_revenue",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "net sales 3273.9m",
      "golden_context": "Page 29:\n\nSelect key financial results for the year ended December 31, 2023 when compared to 2022 were as follows:\nYear Ended December 31,\n(Dollars in millions, except per share amounts) 2023 2022\n% / bps\nChange\nNet sales $ 3,273.9 $ 3,181.9 3%\nAdjusted net sales* 3,273.9 3,164.0 3%\nOrganic net sales growth* (1%)\nGross profit 1,446.9 1,426.9 1%\nAdjusted gross profit* 1,448.5 1,417.5 2%\nNet income attributable to IDEX 596.1 586.9 2%\nAdjusted net income attributable to IDEX* 623.6 618.1 1%\nAdjusted EBITDA* 899.6 884.2 2%\nDiluted EPS attributable to IDEX 7.85 7.71 2%\nAdjusted diluted EPS attributable to IDEX* 8.22 8.12 1%\nCash flows from operating activities 716.7 557.4 29%\nFree cash flow* 626.8 489.4 28%\nGross margin 44.2 % 44.8 % (60) bps\nAdjusted gross margin* 44.2 % 44.8 % (60) bps\nNet income margin 18.2 % 18.4 % (20) bps\nAdjusted EBITDA margin* 27.5 % 27.9 % (40) bps\n*These are non-GAAP measures. See the definitions of these non-GAAP measures and reconciliations to their most directly comparable GAAP financial\nmeasures under the headings “Non-GAAP Disclosures” and “Free Cash Flow.”\n2024 Outlook\nMoving into 2024, the majority of our businesses are currently experiencing stable demand and seeing early signs of\nimprovement, particularly in the Fluid & Metering Technologies segment. However, while the life sciences and analytical\ninstrumentation markets served by approximately one-third of the Health & Science Technologies segment appear stable, these\nmarkets are not yet showing signs of near-term recovery. We continue t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_revenue_growth",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 3273.9m, prior year 3181.9m",
      "golden_context": "Page 29:\n\nSelect key financial results for the year ended December 31, 2023 when compared to 2022 were as follows:\nYear Ended December 31,\n(Dollars in millions, except per share amounts) 2023 2022\n% / bps\nChange\nNet sales $ 3,273.9 $ 3,181.9 3%\nAdjusted net sales* 3,273.9 3,164.0 3%\nOrganic net sales growth* (1%)\nGross profit 1,446.9 1,426.9 1%\nAdjusted gross profit* 1,448.5 1,417.5 2%\nNet income attributable to IDEX 596.1 586.9 2%\nAdjusted net income attributable to IDEX* 623.6 618.1 1%\nAdjusted EBITDA* 899.6 884.2 2%\nDiluted EPS attributable to IDEX 7.85 7.71 2%\nAdjusted diluted EPS attributable to IDEX* 8.22 8.12 1%\nCash flows from operating activities 716.7 557.4 29%\nFree cash flow* 626.8 489.4 28%\nGross margin 44.2 % 44.8 % (60) bps\nAdjusted gross margin* 44.2 % 44.8 % (60) bps\nNet income margin 18.2 % 18.4 % (20) bps\nAdjusted EBITDA margin* 27.5 % 27.9 % (40) bps\n*These are non-GAAP measures. See the definitions of these non-GAAP measures and reconciliations to their most directly comparable GAAP financial\nmeasures under the headings “Non-GAAP Disclosures” and “Free Cash Flow.”\n2024 Outlook\nMoving into 2024, the majority of our businesses are currently experiencing stable demand and seeing early signs of\nimprovement, particularly in the Fluid & Metering Technologies segment. However, while the life sciences and analytical\ninstrumentation markets served by approximately one-third of the Health & Science Technologies segment appear stable, these\nmarkets are not yet showing signs of near-term recovery. We continue t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000316_segments",
      "report_id": "ID_000316",
      "company_name": "IDEX",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”).",
      "golden_context": "Page 4:\n\nThe Company has three reportable segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies\n(“HST”) and Fire & Safety/Diversified Products (“FSDP”). The segments are structured around how to best serve customer\nneeds, with each segment consisting of businesses that have product and end market similarities as well as common distribution\nmethods and production processes. This structure enables management efficiency, aligns IDEX’s operations with its focus on\norganic growth, strategic acquisitions and capital allocation priorities and provides transparency about the Company’s\nperformance to external stakeholders.\n1\nTable of Contents\nIDEX believes that each of its reporting units is a leader in its products and services. The Company also believes that its\nstrong financial performance has been attributable to its ability to design and engineer specialized quality products coupled with\nits ability to successfully identi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_cash_flow",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Cash flows from operations of $2.9 billion",
      "golden_context": "Page 3:\n\na leader in the small-box discount retail channel, and an\nessential partner in the communities we serve.\nDG is in a unique position as a mature retailer in growth mode.\nThe mission and culture that have served us well for many\nyears are stronger than ever, but our strategic approach to the\nbusiness and robust portfolio of initiatives have transformed\nDG into a much different – and stronger – company in recent\nyears. In 2021, we made significant progress advancing our\nkey initiatives to better serve our customers with our hallmark\nvalue and convenience proposition and to drive healthy returns\nfor our shareholders.\nHighlights of 2021:\n• Net sales of $34.2 billion.\n• Operating profit of $3.2 billion.\n• Net income of $2.4 billion, and diluted earnings per\nshare of $10.17.\n• Cash flows from operations of $2.9 billion.\nWe are proud of our results in 2021, which reflect the strong\nunderlying fundamentals of the business, the growing\nimpact of our strategic initiatives, and most importantly,\nthe hard work of our dedicated team members. While the\noperating environment was more challenging than expected,\nwe remained focused on controlling what we can control,\nwhile keeping the customer at the center of everything\nwe do. We made significant progress on the rollout of our\nkey strategic initiatives during the year and plan to further\nexpand these rollouts in 2022, as we look to further distance\n– and differentiate – DG from the rest of the discount retail\nlandscape. We approach this goal through the lens of our four\noperating priorities:\n1. Driving profitable sales growth: In 2021, we completed\nthe initial rollout of our DG Fresh initiative in more than\n18,000 stores and 12 distribution facilities. DG Fresh\nis driving significant product cost savings, as well as\ncreating incremental sales opportunities of our frozen and\nrefrigerated items. We also doubled our non-consumables\ninitiative (“NCI”) store footprint to more than 11,700 stores,\nand opened 50 new standalone pOpshelf locations, as we\ncontinue to enhance the treasure-hunt experience for both\nnew and existing customers. In addition, we launched our\nnew Health initiative with the goal of increasing access to\naffordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model, coupled with ongoing\nformat innovation, continues to be a core strength of\nthe business. We executed more than 2,900 real estate\nprojects in 2021, including 1,050 new store openings and\nmore than 1,750 remodels. In 2022, we plan to execute\n3. 4. nearly 3,000 real estate projects, highlighted by 1,110 new\nstores, including approximately 100 standalone pOpshelf\nlocations and up to ten stores in Mexico, which would\nrepresent our initial expansion outside the U.S. Our Digital\ninitiative complements our physical footprint, as we seek\nto deploy and leverage technology to further enhance\nconvenience and access for our customers. In 2021, our\nefforts included a third-party partnership to offer same-day\ndelivery in one hour or less from nearly 11,000 DG stores.\nLeveraging and reinforcing our position as a low cost\noperator: Our Save to Serve approach continues to\ndrive efficiencies and deliver savings throughout the\norganization. During 2021, we expanded self-checkout to\na total of more than 6,100 stores as part of our Fast Track\ninitiative, which is primarily focused on increasing labor\nproductivity in our stores, as well as enhancing customer\nconvenience. During 2022, we plan to expand our self-\ncheckout offering to a total of up to 11,000 stores. We also\nplan to significantly expand our private transportation\nfleet, providing us greater operational control within our\nsupply chain, while further optimizing our cost to serve.\nInvesting in our diverse teams through development,\nempowerment and inclusion: We believe that the\nopportunity to start and develop a career with a growing\nretailer remains a strong and unique competitive\nadvantage. We continue to provide world-class training\nand development opportunities for our team as we\nseek to better position them for future success. These\nefforts have created a robust internal promotion pipeline,\nresulting in the internal placement of more than 75% of\nour store associates at or above the Lead Sales Associate\nposition. In 2022, we expect to create more than 10,000\nnet new jobs as a result of our continued growth.\nIn addition to driving strong operating results and robust\ngrowth opportunities, we remain committed to our mission\nof Serving Others. In 2021, Dollar General and its Foundations\nawarded more than $23 million to charitable efforts that\nextend hope and opportunity to individuals and nonprofit\norganizations.\nI want to thank our approximately 163,000 employees for\ntheir tireless commitment to serving our customers and\ncommunities. We are operating from a position of strength,\nand are excited about our plans for 2022, which we believe\nposition us well to continue delivering value for our customers,\nemployees and shareholders.\nRESPECTFULLY,\nTODD J. VASOS\nCHIEF EXECUTIVE OFFICER",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_company_type",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 71:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended January 28, 2022, or\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from ________ to ________\nCommission file number: 001-11421\nDOLLAR GENERAL CORPORATION\n(Exact name of registrant as specified in its charter)\nTENNESSEE 61-0502302\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n100 MISSION RIDGE\nGOODLETTSVILLE, TN 37072\n(Address of principal executive offices, zip code)\nRegistrant’s telephone number, including area code: (615) 855-4000\nTitle of each class Common Stock, par value $0.875 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) DG Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has\nbeen subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting\ncompany,” and “emerging growth company” in Rule 12b -2 of the Exchange Act.\nLarge accelerated filer ☒ Non-accelerated filer ☐ Accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s common stock outstanding and held by non-affiliates as of July 30, 2021 was\n$54.2 billion calculated using the closing market price of the registrant’s common stock as reported on the NYSE on such date ($232.64). For this\npurpose, directors, executive officers and greater than 10% record shareholders are considered the affiliates of the registrant.\nThe registrant had 228,868,368 shares of common stock outstanding as of March 11, 2022.\nDOCUMENTS INCORPORATED BY REFERENCE\nCertain of the information required in Part III of this Form 10-K is incorporated by reference ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_key_financials",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 34.2bn, operating profit 3.2bn, net income 2.4bn, diluted EPS 10.17, cash flows from operations of 2.9bn",
      "golden_context": "Page 3:\n\na leader in the small-box discount retail channel, and an\nessential partner in the communities we serve.\nDG is in a unique position as a mature retailer in growth mode.\nThe mission and culture that have served us well for many\nyears are stronger than ever, but our strategic approach to the\nbusiness and robust portfolio of initiatives have transformed\nDG into a much different – and stronger – company in recent\nyears. In 2021, we made significant progress advancing our\nkey initiatives to better serve our customers with our hallmark\nvalue and convenience proposition and to drive healthy returns\nfor our shareholders.\nHighlights of 2021:\n• Net sales of $34.2 billion.\n• Operating profit of $3.2 billion.\n• Net income of $2.4 billion, and diluted earnings per\nshare of $10.17.\n• Cash flows from operations of $2.9 billion.\nWe are proud of our results in 2021, which reflect the strong\nunderlying fundamentals of the business, the growing\nimpact of our strategic initiatives, and most importantly,\nthe hard work of our dedicated team members. While the\noperating environment was more challenging than expected,\nwe remained focused on controlling what we can control,\nwhile keeping the customer at the center of everything\nwe do. We made significant progress on the rollout of our\nkey strategic initiatives during the year and plan to further\nexpand these rollouts in 2022, as we look to further distance\n– and differentiate – DG from the rest of the discount retail\nlandscape. We approach this goal through the lens of our four\noperating priorities:\n1. Driving profitable sales growth: In 2021, we completed\nthe initial rollout of our DG Fresh initiative in more than\n18,000 stores and 12 distribution facilities. DG Fresh\nis driving significant product cost savings, as well as\ncreating incremental sales opportunities of our frozen and\nrefrigerated items. We also doubled our non-consumables\ninitiative (“NCI”) store footprint to more than 11,700 stores,\nand opened 50 new standalone pOpshelf locations, as we\ncontinue to enhance the treasure-hunt experience for both\nnew and existing customers. In addition, we launched our\nnew Health initiative with the goal of increasing access to\naffordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model, coupled with ongoing\nformat innovation, continues to be a core strength of\nthe business. We executed more than 2,900 real estate\nprojects in 2021, including 1,050 new store openings and\nmore than 1,750 remodels. In 2022, we plan to execute\n3. 4. nearly 3,000 real estate projects, highlighted by 1,110 new\nstores, including approximately 100 standalone pOpshelf\nlocations and up to ten stores in Mexico, which would\nrepresent our initial expansion outside the U.S. Our Digital\ninitiative complements our physical footprint, as we seek\nto deploy and leverage technology to further enhance\nconvenience and access for our customers. In 2021, our\nefforts included a third-party partnership to offer same-day\ndelivery in one hour or less from nearly 11,000 DG stores.\nLeveraging and reinforcing our position as a low cost\noperator: Our Save to Serve approach continues to\ndrive efficiencies and deliver savings throughout the\norganization. During 2021, we expanded self-checkout to\na total of more than 6,100 stores as part of our Fast Track\ninitiative, which is primarily focused on increasing labor\nproductivity in our stores, as well as enhancing customer\nconvenience. During 2022, we plan to expand our self-\ncheckout offering to a total of up to 11,000 stores. We also\nplan to significantly expand our private transportation\nfleet, providing us greater operational control within our\nsupply chain, while further optimizing our cost to serve.\nInvesting in our diverse teams through development,\nempowerment and inclusion: We believe that the\nopportunity to start and develop a career with a growing\nretailer remains a strong and unique competitive\nadvantage. We continue to provide world-class training\nand development opportunities for our team as we\nseek to better position them for future success. These\nefforts have created a robust internal promotion pipeline,\nresulting in the internal placement of more than 75% of\nour store associates at or above the Lead Sales Associate\nposition. In 2022, we expect to create more than 10,000\nnet new jobs as a result of our continued growth.\nIn addition to driving strong operating results and robust\ngrowth opportunities, we remain committed to our mission\nof Serving Others. In 2021, Dollar General and its Foundations\nawarded more than $23 million to charitable efforts that\nextend hope and opportunity to individuals and nonprofit\norganizations.\nI want to thank our approximately 163,000 employees for\ntheir tireless commitment to serving our customers and\ncommunities. We are operating from a position of strength,\nand are excited about our plans for 2022, which we believe\nposition us well to continue delivering value for our customers,\nemployees and shareholders.\nRESPECTFULLY,\nTODD J. VASOS\nCHIEF EXECUTIVE OFFICER",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_revenue",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales 34.2bn",
      "golden_context": "Page 3:\n\na leader in the small-box discount retail channel, and an\nessential partner in the communities we serve.\nDG is in a unique position as a mature retailer in growth mode.\nThe mission and culture that have served us well for many\nyears are stronger than ever, but our strategic approach to the\nbusiness and robust portfolio of initiatives have transformed\nDG into a much different – and stronger – company in recent\nyears. In 2021, we made significant progress advancing our\nkey initiatives to better serve our customers with our hallmark\nvalue and convenience proposition and to drive healthy returns\nfor our shareholders.\nHighlights of 2021:\n• Net sales of $34.2 billion.\n• Operating profit of $3.2 billion.\n• Net income of $2.4 billion, and diluted earnings per\nshare of $10.17.\n• Cash flows from operations of $2.9 billion.\nWe are proud of our results in 2021, which reflect the strong\nunderlying fundamentals of the business, the growing\nimpact of our strategic initiatives, and most importantly,\nthe hard work of our dedicated team members. While the\noperating environment was more challenging than expected,\nwe remained focused on controlling what we can control,\nwhile keeping the customer at the center of everything\nwe do. We made significant progress on the rollout of our\nkey strategic initiatives during the year and plan to further\nexpand these rollouts in 2022, as we look to further distance\n– and differentiate – DG from the rest of the discount retail\nlandscape. We approach this goal through the lens of our four\noperating priorities:\n1. Driving profitable sales growth: In 2021, we completed\nthe initial rollout of our DG Fresh initiative in more than\n18,000 stores and 12 distribution facilities. DG Fresh\nis driving significant product cost savings, as well as\ncreating incremental sales opportunities of our frozen and\nrefrigerated items. We also doubled our non-consumables\ninitiative (“NCI”) store footprint to more than 11,700 stores,\nand opened 50 new standalone pOpshelf locations, as we\ncontinue to enhance the treasure-hunt experience for both\nnew and existing customers. In addition, we launched our\nnew Health initiative with the goal of increasing access to\naffordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model, coupled with ongoing\nformat innovation, continues to be a core strength of\nthe business. We executed more than 2,900 real estate\nprojects in 2021, including 1,050 new store openings and\nmore than 1,750 remodels. In 2022, we plan to execute\n3. 4. nearly 3,000 real estate projects, highlighted by 1,110 new\nstores, including approximately 100 standalone pOpshelf\nlocations and up to ten stores in Mexico, which would\nrepresent our initial expansion outside the U.S. Our Digital\ninitiative complements our physical footprint, as we seek\nto deploy and leverage technology to further enhance\nconvenience and access for our customers. In 2021, our\nefforts included a third-party partnership to offer same-day\ndelivery in one hour or less from nearly 11,000 DG stores.\nLeveraging and reinforcing our position as a low cost\noperator: Our Save to Serve approach continues to\ndrive efficiencies and deliver savings throughout the\norganization. During 2021, we expanded self-checkout to\na total of more than 6,100 stores as part of our Fast Track\ninitiative, which is primarily focused on increasing labor\nproductivity in our stores, as well as enhancing customer\nconvenience. During 2022, we plan to expand our self-\ncheckout offering to a total of up to 11,000 stores. We also\nplan to significantly expand our private transportation\nfleet, providing us greater operational control within our\nsupply chain, while further optimizing our cost to serve.\nInvesting in our diverse teams through development,\nempowerment and inclusion: We believe that the\nopportunity to start and develop a career with a growing\nretailer remains a strong and unique competitive\nadvantage. We continue to provide world-class training\nand development opportunities for our team as we\nseek to better position them for future success. These\nefforts have created a robust internal promotion pipeline,\nresulting in the internal placement of more than 75% of\nour store associates at or above the Lead Sales Associate\nposition. In 2022, we expect to create more than 10,000\nnet new jobs as a result of our continued growth.\nIn addition to driving strong operating results and robust\ngrowth opportunities, we remain committed to our mission\nof Serving Others. In 2021, Dollar General and its Foundations\nawarded more than $23 million to charitable efforts that\nextend hope and opportunity to individuals and nonprofit\norganizations.\nI want to thank our approximately 163,000 employees for\ntheir tireless commitment to serving our customers and\ncommunities. We are operating from a position of strength,\nand are excited about our plans for 2022, which we believe\nposition us well to continue delivering value for our customers,\nemployees and shareholders.\nRESPECTFULLY,\nTODD J. VASOS\nCHIEF EXECUTIVE OFFICER",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_revenue_growth",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "1.4% net sales increase",
      "golden_context": "Page 99:\n\nemodeled, expanded or relocated in our same-store sales calculation. Changes in same-store\nsales are calculated based on the comparable 52 calendar weeks in the current and prior years. The method of\ncalculating same-store sales varies across the retail industry. As a result, our calculation of same-store sales is not\nnecessarily comparable to similarly titled measures reported by other companies. Average sales per square foot is\ncalculated based on total sales for the preceding 12 months as of the ending date of the reporting period divided by\nthe average selling square footage during the period, including the end of the fiscal year, the beginning of the fiscal\nyear, and the end of each of our three interim fiscal quarters. Inventory turnover is calculated based on total cost of\ngoods sold for the preceding four quarters divided by the average inventory balance as of the ending date of the\nreporting period, including the end of the fiscal year, the beginning of the fiscal year, and the end of each of our\nthree interim fiscal quarters. Each of these measures is commonly used by investors in retail companies to measure\nthe health of the business. e use these measures to maximie profitability and for decisions about the allocation of\nresources.\nA continued focus on our four operating priorities as discussed above, coupled with pandemic-related sales\nand other impacts (additional discussion below) and strong cash flow management resulted in strong overall\noperating and financial performance in 2021 as compared to 2020, as set forth below. asis points, as referred to\nbelow, are equal to 0.01% as a percentage of net sales.\n• Net sales in 2021 increased 1.4% over 2020. Sales in same-stores decreased 2.8%, primarily due\nto a decrease in customer traffic. Average sales per square foot in 2021 were $262.\n• Our gross profit rate decreased by 16 basis points due primarily to higher transportation costs and\na greater LIFO provision.\n• SGA as a percentage of sales increased by 96 basis points primarily due to increases in retail\nlabor and store occupancy costs.\n• Operating profit decreased 9.4% to $3.22 billion in 2021 compared to $3.55 billion in 2020.\n• Interest expense increased by $7.1 million in 2021 primarily due to higher average outstanding\ndebt balances.\n• The decrease in the effective income tax rate to 21.7% in 2021 from 22.0% in 2020 was due\nprimarily to increa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000317_segments",
      "report_id": "ID_000317",
      "company_name": "Dollar General",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "One reportable segment. ",
      "golden_context": "Page 133:\n\n. . . . . . . . . . . . . . . . . . . . . Net of tax . . . . . . . . . . . . . . . . . . . . . . . . . 10. Segment reporting\nThe Company manages its business on the basis of one reportable operating segment. See Note 1 for a brief\ndescription of the Company’s business. As of January 28, 2022, all of the Company’s retail store operations were\nlocated within the nited States. Certain product sourcing and other operations are located outside the nited States,\nwhich collectively are not material with regard to assets, results of operations or otherwise to the consolidated\nfinancial statements. The following net sales data is presented in accordance with accounting standards related to\ndisclosures about segments of an enterprise.\n(in thousands) 2021 2020 2019\nClasses of similar products:\nConsumables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 26,258,605 $ 25,906,685 $ 21,635,890\nSeasonal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,182,165 4,083,650 3,258,874\nome products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,322,367 2,209,950 1,611,899\nApparel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,457,312 1,546,554 1,247,310\nNet sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 34,220,449 $ 33,746,839 $ 27,753,973\n11. Common stock transactions\nOn August 29, 2012, the Company’s oard of Directors authoried a common stock repurchase program,\nwhich the oard has since increased on several occasions. On December 1, 2021, the Company’s oard of Directors\nauthoried a $2.0 billion increase to the existing common stock repurchase program, bringing the cumulative total\nauthoried under the program since its inception to $14.0 billion. The repurchase authoriation has no expiration\ndate and allows repurchases from time to time in open market transactions, including pursuant to trading plans\nadopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or in privately\nnegotiated transactions. The timing, manner and number of shares repurchased will depend on a variety of factors,\nincluding price, market conditions, compliance with the covenants and restrictions under the Company’s debt\nagreements and other factors. Repurchases under the program may be funded from available cash or borrowings\nincluding under the Company’s Revolving Facility and issuance of CP Notes discussed in further detail in Note 5.\nDuring the years ended January 28, 2022, January 29, 2021, and January 31, 2020, the Company\nrepurchased approximately 12.1 million shares of its common stock at a total cost of $2.5 billion, approximately\n12.3 million shares of its common stock at a total cost of $2.5 billion, and approximately 8.3 million shares of its\ncommon stock at a total cost of $1.2 billion, respectively, pursuant to its common stock repurchase program.\nThe Company paid quarterly cash dividends of $0.42 per share in 2021. On March 16, 2022, the\nCompany’s oard of Directors declared a quarterly cash dividend of $0.55 per share, which is payable on or before\nApril 19, 2022 to shareholders of record on April 5, 2022. The amount and declaration of future cash dividends is\nsubject to the sole discretion of the Company’s oard of Directors and will depend upon, among other things, the\nCompany’s results of op",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_cash_flow",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "cash flows from operations 2bn",
      "golden_context": "Page 3:\n\nO OUR FELLOW SHAREHOLDERS,\nCUSTOMERS & EMPLOYEES:\nDollar General is an essential partner for customers and\ncommunities around the country as America’s neighborhood\ngeneral store, often serving communities that other retailers\nhave chosen not to serve with a unique combination of value\nand convenience. More than 80% of our stores serve towns of\n20,000 or fewer people, providing us the opportunity to make\na significant impact in rural communities that seek affordable\nsolutions to their needs. With more than 19,000 stores, we\noperate more stores than any retailer in the U.S. and are located\nwithin five miles of approximately 75% of the U.S. population.\nWe faced challenges in 2022, including supply chain\nconstraints, inflationary pressures, and a core customer under\nfinancial pressure. While our results were impacted by these\nchallenges, our team responded with great purpose, and was\nand continues to be resilient in finding solutions to serve our\ncustomers, while continuing to focus on delivering healthy\nreturns for our shareholders.\nHighlights of 2022:\n•\nNet sales increased 10.6% to $37.8 billion, and same-\nstore sales increased 4.3%.\n•\nOperating profit increased 3.3% to $3.3 billion.\n•\nNet income increased 0.7% to $2.4 billion, and diluted\nEPS increased 5.0% to $10.68.\n•\nCash flows from operations of $2.0 billion.\nOur strategic approach to the business, combined with a focus\non innovation and execution, continues to differentiate Dollar\nGeneral, and we made significant progress advancing our\nstrategic initiatives and operating priorities, while capturing\nmarket share, in 2022.\n1. Driving profitable sales growth: In 2022, we completed\nthe initial rollout of our non-consumables initiative in the\nvast majority of our stores and more-than-doubled the\nnumber of standalone pOpshelf locations, as we continue\nto enhance the treasure-hunt experience for both new\nand existing customers. DG Fresh continues to contribute\nsignificant product cost savings, higher sales, and\nenhanced profitability – most notably in our perishables\ndepartment, which had our highest departmental rate\nof same-store sales growth in 2022. In addition, we\nexpanded our DG Well Being offering to a total of nearly\n4,400 stores, as we pursue our goal of increasing access\nto affordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model continues to be a core\nstrength of the business. Format innovation continues\nto be an important part of our growth strategy, and our\nlarger format stores provide more products for customers\nwhile also driving greater sales productivity. We executed\nmore than 2,900 real estate projects in 2022 and we plan\nto execute more than 3,100 projects in 2023. We plan to\nmore-than-double the pOpshelf store count in 2023, and\nour goal is to open approximately 20 stores in Mexico, as\nwe look to extend our value and convenience proposition\noutside the U.S. for the first time as an international\nretailer. Our Digital initiative, including our growing DG\nMedia Network, complements our physical footprint and\nprovides our customers with an even more convenient,\nfrictionless, and personalized shopping experience.\n3. Leveraging and reinforcing our position as a low cost\noperator: We aim to keep our business simple while\ncontrolling expenses and driving efficiencies throughout\nthe organization. During 2022, we expanded self-\ncheckout to a total of more than 11,000 stores as part\nof our Fast Track initiative, which continues to focus on\nenhancing convenience for customers while driving\nefficiencies for our teams. We also expanded our private\ntractor fleet, which is now one of the largest in the U.S., to\na total of more than 1,600 tractors. These efforts continue\nto provide greater operational control within our supply\nchain while further optimizing our cost to serve.\n4. Investing in our diverse teams through development,\nempowerment and inclusion: We created more than\n10,000 new jobs and invested over four million training\nhours in 2022, as we continue to provide opportunities\nfor personal and professional development and career\nadvancement. The opportunity to start and develop\na career with a growing retailer remains our greatest\ncurrency in attracting and retaining talent, as evidenced by\nthe more than 70% internal placement rate of associates\nat, or above, the Lead Sales Associate position.\nLooking ahead to 2023, we are making significant investments in\nour business, including in our portfolio of initiatives and our plans\nto invest approximately $100 million, primarily in incremental\nlabor hours, which we believe will enhance the employee and\ncustomer experience. We believe these efforts will build on the\nprogress we have made and position us to continue moving\nforward as the innovative leader in our channel.\nWe remain committed to our mission of Serving Others, which\nis at the center of all that we do as an organization. In 2022,\nDollar General and its Foundations awarded nearly $23 million\nto charitable efforts that extend hope and opportunity to\nindividuals and nonprofit organizations.\nThe people of Dollar General are our greatest strength and\nthe bedrock of our special culture, and I want to thank our\nmore than 170,000 employees for their sense of purpose and\ndedication to serving our customers and communities. We are\nexcited about our plans for 2023, which we believe position us\nwell to continue delivering value for our customers, employees,\nand shareholders.\nRESPECTFULLY,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_company_type",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 85:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended February 3, 2023, or\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from ________ to ________\nCommission file number: 001-11421\nDOLLAR GENERAL CORPORATION\nGOODLETTSVILLE, TN 37072\nNo ☐\n(Exact name of registrant as specified in its charter)\nTENNESSEE 61-0502302\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n100 MISSION RIDGE\n(Address of principal executive offices, zip code)\nRegistrant’s telephone number, including area code: (615) 855-4000\nTitle of each class Common Stock, par value $0.875 per share Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) DG Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has\nbeen subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting\ncompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that\nprepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the\nregistrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s common stock outstanding and held by non-affiliates as of July 29, 2022 was\n$55.9 billion calculated using the closing market price of the registrant’s common stock as reported on the NYSE on such date ($248.43). For this\npurpose, directors, executive officers and greater than 10% record shareholders are considered the affiliates of the registrant.\nThe registrant had 219,108,477 shares of common stock outstanding as of March 22, 2023.\nDOCUMENTS INCORPORATED BY REFERENCE\nCertain of the information required in Part III of this Form 10-K is incorporated by reference to the registrant’s definitive proxy\nstatement to be filed for the Annual Meeting of Shareholders to be held on May 31, 2023.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_key_financials",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales increased 10.6% to 37.8bn, same-store sales increased 4.3%, operating profit 3.3bn, net income increased 0.7% to 2.4bn, cash flows from operations 2bn",
      "golden_context": "Page 3:\n\nO OUR FELLOW SHAREHOLDERS,\nCUSTOMERS & EMPLOYEES:\nDollar General is an essential partner for customers and\ncommunities around the country as America’s neighborhood\ngeneral store, often serving communities that other retailers\nhave chosen not to serve with a unique combination of value\nand convenience. More than 80% of our stores serve towns of\n20,000 or fewer people, providing us the opportunity to make\na significant impact in rural communities that seek affordable\nsolutions to their needs. With more than 19,000 stores, we\noperate more stores than any retailer in the U.S. and are located\nwithin five miles of approximately 75% of the U.S. population.\nWe faced challenges in 2022, including supply chain\nconstraints, inflationary pressures, and a core customer under\nfinancial pressure. While our results were impacted by these\nchallenges, our team responded with great purpose, and was\nand continues to be resilient in finding solutions to serve our\ncustomers, while continuing to focus on delivering healthy\nreturns for our shareholders.\nHighlights of 2022:\n•\nNet sales increased 10.6% to $37.8 billion, and same-\nstore sales increased 4.3%.\n•\nOperating profit increased 3.3% to $3.3 billion.\n•\nNet income increased 0.7% to $2.4 billion, and diluted\nEPS increased 5.0% to $10.68.\n•\nCash flows from operations of $2.0 billion.\nOur strategic approach to the business, combined with a focus\non innovation and execution, continues to differentiate Dollar\nGeneral, and we made significant progress advancing our\nstrategic initiatives and operating priorities, while capturing\nmarket share, in 2022.\n1. Driving profitable sales growth: In 2022, we completed\nthe initial rollout of our non-consumables initiative in the\nvast majority of our stores and more-than-doubled the\nnumber of standalone pOpshelf locations, as we continue\nto enhance the treasure-hunt experience for both new\nand existing customers. DG Fresh continues to contribute\nsignificant product cost savings, higher sales, and\nenhanced profitability – most notably in our perishables\ndepartment, which had our highest departmental rate\nof same-store sales growth in 2022. In addition, we\nexpanded our DG Well Being offering to a total of nearly\n4,400 stores, as we pursue our goal of increasing access\nto affordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model continues to be a core\nstrength of the business. Format innovation continues\nto be an important part of our growth strategy, and our\nlarger format stores provide more products for customers\nwhile also driving greater sales productivity. We executed\nmore than 2,900 real estate projects in 2022 and we plan\nto execute more than 3,100 projects in 2023. We plan to\nmore-than-double the pOpshelf store count in 2023, and\nour goal is to open approximately 20 stores in Mexico, as\nwe look to extend our value and convenience proposition\noutside the U.S. for the first time as an international\nretailer. Our Digital initiative, including our growing DG\nMedia Network, complements our physical footprint and\nprovides our customers with an even more convenient,\nfrictionless, and personalized shopping experience.\n3. Leveraging and reinforcing our position as a low cost\noperator: We aim to keep our business simple while\ncontrolling expenses and driving efficiencies throughout\nthe organization. During 2022, we expanded self-\ncheckout to a total of more than 11,000 stores as part\nof our Fast Track initiative, which continues to focus on\nenhancing convenience for customers while driving\nefficiencies for our teams. We also expanded our private\ntractor fleet, which is now one of the largest in the U.S., to\na total of more than 1,600 tractors. These efforts continue\nto provide greater operational control within our supply\nchain while further optimizing our cost to serve.\n4. Investing in our diverse teams through development,\nempowerment and inclusion: We created more than\n10,000 new jobs and invested over four million training\nhours in 2022, as we continue to provide opportunities\nfor personal and professional development and career\nadvancement. The opportunity to start and develop\na career with a growing retailer remains our greatest\ncurrency in attracting and retaining talent, as evidenced by\nthe more than 70% internal placement rate of associates\nat, or above, the Lead Sales Associate position.\nLooking ahead to 2023, we are making significant investments in\nour business, including in our portfolio of initiatives and our plans\nto invest approximately $100 million, primarily in incremental\nlabor hours, which we believe will enhance the employee and\ncustomer experience. We believe these efforts will build on the\nprogress we have made and position us to continue moving\nforward as the innovative leader in our channel.\nWe remain committed to our mission of Serving Others, which\nis at the center of all that we do as an organization. In 2022,\nDollar General and its Foundations awarded nearly $23 million\nto charitable efforts that extend hope and opportunity to\nindividuals and nonprofit organizations.\nThe people of Dollar General are our greatest strength and\nthe bedrock of our special culture, and I want to thank our\nmore than 170,000 employees for their sense of purpose and\ndedication to serving our customers and communities. We are\nexcited about our plans for 2023, which we believe position us\nwell to continue delivering value for our customers, employees,\nand shareholders.\nRESPECTFULLY,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_revenue",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "37.8bn",
      "golden_context": "Page 3:\n\nO OUR FELLOW SHAREHOLDERS,\nCUSTOMERS & EMPLOYEES:\nDollar General is an essential partner for customers and\ncommunities around the country as America’s neighborhood\ngeneral store, often serving communities that other retailers\nhave chosen not to serve with a unique combination of value\nand convenience. More than 80% of our stores serve towns of\n20,000 or fewer people, providing us the opportunity to make\na significant impact in rural communities that seek affordable\nsolutions to their needs. With more than 19,000 stores, we\noperate more stores than any retailer in the U.S. and are located\nwithin five miles of approximately 75% of the U.S. population.\nWe faced challenges in 2022, including supply chain\nconstraints, inflationary pressures, and a core customer under\nfinancial pressure. While our results were impacted by these\nchallenges, our team responded with great purpose, and was\nand continues to be resilient in finding solutions to serve our\ncustomers, while continuing to focus on delivering healthy\nreturns for our shareholders.\nHighlights of 2022:\n•\nNet sales increased 10.6% to $37.8 billion, and same-\nstore sales increased 4.3%.\n•\nOperating profit increased 3.3% to $3.3 billion.\n•\nNet income increased 0.7% to $2.4 billion, and diluted\nEPS increased 5.0% to $10.68.\n•\nCash flows from operations of $2.0 billion.\nOur strategic approach to the business, combined with a focus\non innovation and execution, continues to differentiate Dollar\nGeneral, and we made significant progress advancing our\nstrategic initiatives and operating priorities, while capturing\nmarket share, in 2022.\n1. Driving profitable sales growth: In 2022, we completed\nthe initial rollout of our non-consumables initiative in the\nvast majority of our stores and more-than-doubled the\nnumber of standalone pOpshelf locations, as we continue\nto enhance the treasure-hunt experience for both new\nand existing customers. DG Fresh continues to contribute\nsignificant product cost savings, higher sales, and\nenhanced profitability – most notably in our perishables\ndepartment, which had our highest departmental rate\nof same-store sales growth in 2022. In addition, we\nexpanded our DG Well Being offering to a total of nearly\n4,400 stores, as we pursue our goal of increasing access\nto affordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model continues to be a core\nstrength of the business. Format innovation continues\nto be an important part of our growth strategy, and our\nlarger format stores provide more products for customers\nwhile also driving greater sales productivity. We executed\nmore than 2,900 real estate projects in 2022 and we plan\nto execute more than 3,100 projects in 2023. We plan to\nmore-than-double the pOpshelf store count in 2023, and\nour goal is to open approximately 20 stores in Mexico, as\nwe look to extend our value and convenience proposition\noutside the U.S. for the first time as an international\nretailer. Our Digital initiative, including our growing DG\nMedia Network, complements our physical footprint and\nprovides our customers with an even more convenient,\nfrictionless, and personalized shopping experience.\n3. Leveraging and reinforcing our position as a low cost\noperator: We aim to keep our business simple while\ncontrolling expenses and driving efficiencies throughout\nthe organization. During 2022, we expanded self-\ncheckout to a total of more than 11,000 stores as part\nof our Fast Track initiative, which continues to focus on\nenhancing convenience for customers while driving\nefficiencies for our teams. We also expanded our private\ntractor fleet, which is now one of the largest in the U.S., to\na total of more than 1,600 tractors. These efforts continue\nto provide greater operational control within our supply\nchain while further optimizing our cost to serve.\n4. Investing in our diverse teams through development,\nempowerment and inclusion: We created more than\n10,000 new jobs and invested over four million training\nhours in 2022, as we continue to provide opportunities\nfor personal and professional development and career\nadvancement. The opportunity to start and develop\na career with a growing retailer remains our greatest\ncurrency in attracting and retaining talent, as evidenced by\nthe more than 70% internal placement rate of associates\nat, or above, the Lead Sales Associate position.\nLooking ahead to 2023, we are making significant investments in\nour business, including in our portfolio of initiatives and our plans\nto invest approximately $100 million, primarily in incremental\nlabor hours, which we believe will enhance the employee and\ncustomer experience. We believe these efforts will build on the\nprogress we have made and position us to continue moving\nforward as the innovative leader in our channel.\nWe remain committed to our mission of Serving Others, which\nis at the center of all that we do as an organization. In 2022,\nDollar General and its Foundations awarded nearly $23 million\nto charitable efforts that extend hope and opportunity to\nindividuals and nonprofit organizations.\nThe people of Dollar General are our greatest strength and\nthe bedrock of our special culture, and I want to thank our\nmore than 170,000 employees for their sense of purpose and\ndedication to serving our customers and communities. We are\nexcited about our plans for 2023, which we believe position us\nwell to continue delivering value for our customers, employees,\nand shareholders.\nRESPECTFULLY,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_revenue_growth",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "10.6% net sales increase",
      "golden_context": "Page 3:\n\nO OUR FELLOW SHAREHOLDERS,\nCUSTOMERS & EMPLOYEES:\nDollar General is an essential partner for customers and\ncommunities around the country as America’s neighborhood\ngeneral store, often serving communities that other retailers\nhave chosen not to serve with a unique combination of value\nand convenience. More than 80% of our stores serve towns of\n20,000 or fewer people, providing us the opportunity to make\na significant impact in rural communities that seek affordable\nsolutions to their needs. With more than 19,000 stores, we\noperate more stores than any retailer in the U.S. and are located\nwithin five miles of approximately 75% of the U.S. population.\nWe faced challenges in 2022, including supply chain\nconstraints, inflationary pressures, and a core customer under\nfinancial pressure. While our results were impacted by these\nchallenges, our team responded with great purpose, and was\nand continues to be resilient in finding solutions to serve our\ncustomers, while continuing to focus on delivering healthy\nreturns for our shareholders.\nHighlights of 2022:\n•\nNet sales increased 10.6% to $37.8 billion, and same-\nstore sales increased 4.3%.\n•\nOperating profit increased 3.3% to $3.3 billion.\n•\nNet income increased 0.7% to $2.4 billion, and diluted\nEPS increased 5.0% to $10.68.\n•\nCash flows from operations of $2.0 billion.\nOur strategic approach to the business, combined with a focus\non innovation and execution, continues to differentiate Dollar\nGeneral, and we made significant progress advancing our\nstrategic initiatives and operating priorities, while capturing\nmarket share, in 2022.\n1. Driving profitable sales growth: In 2022, we completed\nthe initial rollout of our non-consumables initiative in the\nvast majority of our stores and more-than-doubled the\nnumber of standalone pOpshelf locations, as we continue\nto enhance the treasure-hunt experience for both new\nand existing customers. DG Fresh continues to contribute\nsignificant product cost savings, higher sales, and\nenhanced profitability – most notably in our perishables\ndepartment, which had our highest departmental rate\nof same-store sales growth in 2022. In addition, we\nexpanded our DG Well Being offering to a total of nearly\n4,400 stores, as we pursue our goal of increasing access\nto affordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model continues to be a core\nstrength of the business. Format innovation continues\nto be an important part of our growth strategy, and our\nlarger format stores provide more products for customers\nwhile also driving greater sales productivity. We executed\nmore than 2,900 real estate projects in 2022 and we plan\nto execute more than 3,100 projects in 2023. We plan to\nmore-than-double the pOpshelf store count in 2023, and\nour goal is to open approximately 20 stores in Mexico, as\nwe look to extend our value and convenience proposition\noutside the U.S. for the first time as an international\nretailer. Our Digital initiative, including our growing DG\nMedia Network, complements our physical footprint and\nprovides our customers with an even more convenient,\nfrictionless, and personalized shopping experience.\n3. Leveraging and reinforcing our position as a low cost\noperator: We aim to keep our business simple while\ncontrolling expenses and driving efficiencies throughout\nthe organization. During 2022, we expanded self-\ncheckout to a total of more than 11,000 stores as part\nof our Fast Track initiative, which continues to focus on\nenhancing convenience for customers while driving\nefficiencies for our teams. We also expanded our private\ntractor fleet, which is now one of the largest in the U.S., to\na total of more than 1,600 tractors. These efforts continue\nto provide greater operational control within our supply\nchain while further optimizing our cost to serve.\n4. Investing in our diverse teams through development,\nempowerment and inclusion: We created more than\n10,000 new jobs and invested over four million training\nhours in 2022, as we continue to provide opportunities\nfor personal and professional development and career\nadvancement. The opportunity to start and develop\na career with a growing retailer remains our greatest\ncurrency in attracting and retaining talent, as evidenced by\nthe more than 70% internal placement rate of associates\nat, or above, the Lead Sales Associate position.\nLooking ahead to 2023, we are making significant investments in\nour business, including in our portfolio of initiatives and our plans\nto invest approximately $100 million, primarily in incremental\nlabor hours, which we believe will enhance the employee and\ncustomer experience. We believe these efforts will build on the\nprogress we have made and position us to continue moving\nforward as the innovative leader in our channel.\nWe remain committed to our mission of Serving Others, which\nis at the center of all that we do as an organization. In 2022,\nDollar General and its Foundations awarded nearly $23 million\nto charitable efforts that extend hope and opportunity to\nindividuals and nonprofit organizations.\nThe people of Dollar General are our greatest strength and\nthe bedrock of our special culture, and I want to thank our\nmore than 170,000 employees for their sense of purpose and\ndedication to serving our customers and communities. We are\nexcited about our plans for 2023, which we believe position us\nwell to continue delivering value for our customers, employees,\nand shareholders.\nRESPECTFULLY,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000318_segments",
      "report_id": "ID_000318",
      "company_name": "Dollar General",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 149:\n\n\"Page 3:\n\nO OUR FELLOW SHAREHOLDERS,\nCUSTOMERS & EMPLOYEES:\nDollar General is an essential partner for customers and\ncommunities around the country as America’s neighborhood\ngeneral store, often serving communities that other retailers\nhave chosen not to serve with a unique combination of value\nand convenience. More than 80% of our stores serve towns of\n20,000 or fewer people, providing us the opportunity to make\na significant impact in rural communities that seek affordable\nsolutions to their needs. With more than 19,000 stores, we\noperate more stores than any retailer in the U.S. and are located\nwithin five miles of approximately 75% of the U.S. population.\nWe faced challenges in 2022, including supply chain\nconstraints, inflationary pressures, and a core customer under\nfinancial pressure. While our results were impacted by these\nchallenges, our team responded with great purpose, and was\nand continues to be resilient in finding solutions to serve our\ncustomers, while continuing to focus on delivering healthy\nreturns for our shareholders.\nHighlights of 2022:\n•\nNet sales increased 10.6% to $37.8 billion, and same-\nstore sales increased 4.3%.\n•\nOperating profit increased 3.3% to $3.3 billion.\n•\nNet income increased 0.7% to $2.4 billion, and diluted\nEPS increased 5.0% to $10.68.\n•\nCash flows from operations of $2.0 billion.\nOur strategic approach to the business, combined with a focus\non innovation and execution, continues to differentiate Dollar\nGeneral, and we made significant progress advancing our\nstrategic initiatives and operating priorities, while capturing\nmarket share, in 2022.\n1. Driving profitable sales growth: In 2022, we completed\nthe initial rollout of our non-consumables initiative in the\nvast majority of our stores and more-than-doubled the\nnumber of standalone pOpshelf locations, as we continue\nto enhance the treasure-hunt experience for both new\nand existing customers. DG Fresh continues to contribute\nsignificant product cost savings, higher sales, and\nenhanced profitability – most notably in our perishables\ndepartment, which had our highest departmental rate\nof same-store sales growth in 2022. In addition, we\nexpanded our DG Well Being offering to a total of nearly\n4,400 stores, as we pursue our goal of increasing access\nto affordable healthcare products and, over time, services,\nparticularly in rural America.\n2. Capturing growth opportunities: Our proven high-return,\nlow-risk real estate growth model continues to be a core\nstrength of the business. Format innovation continues\nto be an important part of our growth strategy, and our\nlarger format stores provide more products for customers\nwhile also driving greater sales productivity. We executed\nmore than 2,900 real estate projects in 2022 and we plan\nto execute more than 3,100 projects in 2023. We plan to\nmore-than-double the pOpshelf store count in 2023, and\nour goal is to open approximately 20 stores in Mexico, as\nwe look to extend our value and convenience proposition\noutside the U.S. for the first time as an international\nretailer. Our Digital initiative, including our growing DG\nMedia Network, complements our physical footprint and\nprovides our customers with an even more convenient,\nfrictionless, and personalized shopping experience.\n3. Leveraging and reinforcing our position as a low cost\noperator: We aim to keep our business simple while\ncontrolling expenses and driving efficiencies throughout\nthe organization. During 2022, we expanded self-\ncheckout to a total of more than 11,000 stores as part\nof our Fast Track initiative, which continues to focus on\nenhancing convenience for customers while driving\nefficiencies for our teams. We also expanded our private\ntractor fleet, which is now one of the largest in the U.S., to\na total of more than 1,600 tractors. These efforts continue\nto provide greater operational control within our supply\nchain while further optimizing our cost to serve.\n4. Investing in our diverse teams through development,\nempowerment and inclusion: We created more than\n10,000 new jobs and invested over four million training\nhours in 2022, as we continue to provide opportunities\nfor personal and professional development and career\nadvancement. The opportunity to start and develop\na career with a growing retailer remains our greatest\ncurrency in attracting and retaining talent, as evidenced by\nthe more than 70% internal placement rate of associates\nat, or above, the Lead Sales Associate position.\nLooking ahead to 2023, we are making significant investments in\nour business, including in our portfolio of initiatives and our plans\nto invest approximately $100 million, primarily in incremental\nlabor hours, which we believe will enhance the employee and\ncustomer experience. We believe these efforts will build on the\nprogress we have made and position us to continue moving\nforward as the innovative leader in our channel.\nWe remain committed to our mission of Serving Others, which\nis at the center of all that we do as an organization. In 2022,\nDollar General and its Foundations awarded nearly $23 million\nto charitable efforts that extend hope and opportunity to\nindividuals and nonprofit organizations.\nThe people of Dollar General are our greatest strength and\nthe bedrock of our special culture, and I want to thank our\nmore than 170,000 employees for their sense of purpose and\ndedication to serving our customers and communities. We are\nexcited about our plans for 2023, which we believe position us\nwell to continue delivering value for our customers, employees,\nand shareholders.\nRESPECTFULLY,\"",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_cash_flow",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2330.4m, investing: -1329.6m, financing: -529.8m",
      "golden_context": "Page 77:\n\nHologic, Inc.\nConsolidated Statements of Cash Flows\n(In millions)\nYears ended\nSeptember 25,\n2021\nSeptember 26,\n2020\nSeptember 28,\n2019\nOPERATING ACTIVITIES\nNet income (loss) $ 1,869.7 $ 1,110.5 $ (203.6)\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\nDepreciation 88.0 83.1 92.5\nAmortization 318.9 292.9 370.6\nStock-based compensation expense 65.0 83.3 62.0\nDeferred income taxes and other non-cash taxes (70.1) (94.4) (235.7)\nIntangible asset and equipment impairment charges — 30.2 685.4\nDebt extinguishment loss 21.6 — 0.8\nOther adjustments and non-cash items 24.3 27.3 33.8\nChanges in operating assets and liabilities, excluding the effect of acquisitions and dispositions:\nAccounts receivable 110.9 (427.1) (76.5)\nInventory (84.1) (25.3) (63.0)\nPrepaid income taxes 13.0 (3.8) (3.2)\nPrepaid expenses and other assets (56.3) (286.2) (6.0)\nAccounts payable 20.4 (4.9) (5.5)\nAccrued expenses and other liabilities (4.9) 96.0 (16.5)\nDeferred revenue 14.0 15.0 14.4\nNet cash provided by operating activities 2,330.4 896.6 649.5\nINVESTING ACTIVITIES\nAcquisition of businesses, net of cash acquired (1,164.7) (119.4) (110.6)\nNet proceeds from sale of business — 139.3 —\nPurchase of equity method investment in SSI— — (18.2)\nLoans to SSI — — (28.4)\nPurchase of property and equipment (96.8) (98.3) (57.0)\nIncrease in equipment under customer usage agreements (59.4) (58.1) (52.1)\nPurchase of intellectual property (6.5) — (4.5)\nOther activity (2.2) (5.1) (9.9)\nNet cash used in investing activities (1,329.6) (141.6) (280.7)\nFINANCING ACTIVITIES\nProceeds from long-term debt, net of issuance costs — — 1,497.3\nRepayment of long-term debt (75.0) (45.8) (1,465.0)\nProceeds from senior notes, net of issuance costs 936.3 — —\nRepayment of senior notes (970.8) — —\nProceeds from revolving credit line — 750.0 480.0\nRepayments under revolving credit line (250.0) (500.0) (780.0)\nProceeds from accounts receivable securitization agreement 320.0 16.0 43.0\nRepayments under accounts receivable securitization agreement (71.5) (250.0) (34.0)\nPurchase of non-controlling interest (8.5) (1.8)—\nRepurchases of common stock (409.8) (653.6) (200.1)\nPayment of deferred acquisition consideration (1.9) (24.3) (6.5)\nPurchase of interest rate caps — — (1.5)\nNet proceeds from issuance of common stock under employee stock plans 51.3 65.6 49.8\nPayment of minimum tax withholdings on net share settlements of equity awards (47.5) (14.3) (12.8)\nPayments under finance lease obligations (2.4) (1.7) (1.7)\nNet cash used in financing activities (529.8) (659.9) (431.5)\nEffect of exchange rate changes on cash and cash equivalents (1.7) 4.1 (2.2)\nNet increase (decrease) in cash and cash equivalents 469.3 99.2 (64.9)\nCash and cash equivalents, beginning of period 701.0 601.8 666.7\nCash and cash equivalents, end of period $ 1,170.3 $ 701.0 $ 601.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_company_type",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n__________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended: September 25, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-36214\n__________________________________________________________\nHOLOGIC, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2902449\n(State or Other Jurisdiction of\n(I.R.S. Employer Identification No.)\nIncorporation or Organization)\n250 Campus Drive, Marlborough, Massachusetts 01752\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s Telephone Number, Including Area Code (508) 263-2900\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on which Registered\nCommon Stock, $0.01 par value HOLX The NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\n__________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒ Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act\n(Check one).\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control\nover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. §7262(b)) by the registered public accountin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_key_financials",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "53.9% increase in product revenues. 7.21 diluted net income per share, net income 1,871.5m",
      "golden_context": "Page 72: \n\nHologic, Inc.\nConsolidated Statements of Operations\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 25,\n2021\nSeptember 26,\n2020 September 28, 2019\nRevenues:\nProduct $ 4,967.3 $ 3,227.0 $ 2,771.3\nService and other 665.0 549.4 596.0\n5,632.3 3,776.4 3,367.3\nCosts of revenues:\nProduct 1,205.1 953.7 948.7\nAmortization of acquired intangible assets 276.7 253.2 318.5\nImpairment of intangible assets and equipment — 25.8 578.7\nService and other 354.7 316.2 350.5\nGross Profit 3,795.8 2,227.5 1,170.9\nOperating expenses:\nResearch and development 276.3 222.5 232.2\nSelling and marketing 561.2 484.6 564.9\nGeneral and administrative 433.2 355.7 332.3\nAmortization of acquired intangible assets 42.2 39.7 52.0\nImpairment of intangible assets and equipment — 4.4 106.7\nContingent consideration – fair value adjustments (6.7) 0.3 —\nRestructuring and divestiture charges 9.3 15.3 6.6\n1,315.5 1,122.5 1,294.7\nIncome (loss) from operations 2,480.3 1,105.0 (123.8)\nInterest income 1.4 4.3 4.6\nInterest expense (93.6) (116.5) (140.8)\nDebt extinguishment losses (21.6) — (0.8)\nOther income (expense), net (5.4) 9.1 3.1\nIncome (loss) before income taxes 2,361.1 1,001.9 (257.7)\nProvision (benefit) for income taxes 491.4 (108.6) (54.1)\nNet income (loss) $ 1,869.7 $ 1,110.5 $ (203.6)\nNet loss attributable to noncontrolling interest (1.8) (4.7) —\nNet income (loss) attributable to Hologic $ 1,871.5 $ 1,115.2 $ (203.6)\nNet income (loss) per common share attributable to Hologic:\nBasic $ 7.28 $ 4.24 $ (0.76)\nDiluted $ 7.21 $ 4.21 $ (0.76)\nWeighted average number of shares outstanding:\nBasic 257,046 262,727 269,413\nDiluted 259,706 264,613 269,413\n\n\nPage 38:\n\nWe generated a 53.9% increase in product revenues in fiscal 2021 compared to fiscal 2020 primarily due to the increase in the Diagnostics business from a\nfull year of sales of our two COVID-19 assays, one of which was launched near the end of the second quarter of fiscal 2020 and the other in the third quarter of\nfiscal 2020. Excluding sales of our COVID-19 assays, product revenues in the prior year period were adversely impacted by the COVID-19 pandemic, and product\nrevenues in the current year periods have increased across our divisions. We primarily attribute this increase to recovery of elective procedures and exams,\nincluding associated capital equipment spending, as economies were opened back up and restrictions eased, and to a lesser extent a portion of the increase was\ndriven by our current year acquisitions. The increase in product revenues in fiscal 2021 compared to fiscal 2020 was partially offset by no revenues from the\nMedical Aesthetics business in the current fiscal year as we disposed of this business segment on December 30, 2019, the beginning of our second quarter of fiscal\n2020.\nDiagnostics product revenues increased 73.4% in fiscal 2021 compared to fiscal 2020 primarily due to increases in Molecular Diagnostics of $1,457.7\nmillion, Cytology and Perinatal of $58.3 million, and an increase in blood-screening of $6.3 million. While we divested our blood screening business in the second\nquarter of fiscal 2017, we continue to provide long-term access to Panther instrumentation and certain supplies to the purchaser of that business. Molecular\nDiagnostics product revenue was $3.1 billion in fiscal 2021 compared to $1.6 billion in fiscal 2020. The increase was primarily attributable to revenues of $2.16\nbillion in fiscal 2021 compared to $929.3 million in fiscal 2020 from our two SARS-CoV-2 assays (primarily the Aptima SARS-CoV-2 assay and to a lesser extent\nthe Panther Fusion SARS-CoV-2 assay), an increase in Panther and Panther Fusion instrument sales due to demand for increased testing capacity for COVID-19,\nand an increase of $150.2 million in Aptima assays sales, which primarily consist of our CTGC, HPV and Trichomonas vaginalis assays, and related collection kits\ndue to a return to pre-COVID testing levels. Prior fiscal year sales of these assays were adversely impacted by the COVID-19 pandemic and related lockdowns\nacross the globe. In addition, we had an increase of $9.4 million in worldwide sales of our virology products in the current fiscal year. We expect that sales of our\nCOVID-19 assays will decline significantly in fiscal 2022 compared to the current fiscal year primarily due to the continued distribution of vaccines. Cytology &\nPerinatal product revenue increased $58.3 million in the current fiscal year primarily due to higher ThinPrep test volumes, which we primarily attribute to the\nrecovery of wellness office visits that had previously been delayed or cancelled in the prior year in response to the COVID-19 pandemic, partially offset by lower\naverage selling prices and lower Perinatal product volumes. The inclusion of Diagenode and Mobidiag contributed $29.9 million of product revenue in the current\nfiscal year. We also experienced an increase in revenue from the favorable foreign currency exchange impact of the weakened U.S. dollar against a number of\ncurrencies in current fiscal year.\nBreast Health product revenues increased 21.3% in fiscal 2021 compared to fiscal 2020 as product revenues in the prior fiscal year were adversely impacted\nby the COVID-19 pandemic and related lockdowns across the globe. These increases were primarily due to an increase in sales volume of our digital\nmammography systems and related workflow products (primarily Intelligent 2D, Clarity HD and SmartCurve), Affirm Prone breast biopsy tables, and our\ninterventional breast solutions products, primarily Eviva, ATEC, and Brevera disposables (relaunched in the fourth quarter of fiscal 2020). In addition, we had\nhigher sales of our breast conserving surgery products and ultrasound imaging products. We primarily attribute the increase in revenues to hospitals and imaging\ncenters purchasing capital equipment following a \n\nPage 117:\n\ned ASU 2016-16, which removes the prohibition in ASC 740 against the immediate recognition of the current and\ndeferred income tax effects of intra-entity transfers of assets other than inventory. Under ASU 2016-16, the selling (transferring) entity is required to recognize a\ncurrent tax expense or benefit upon transfer of the asset. Similarly, the purchasing (receiving) entity is required to recognize a deferred tax asset or deferred tax\nliability, as well as the related deferred tax benefit or expense, upon receipt of the asset. The Company adopted ASU 2016-16 in the first quarter of fiscal 2019 on a\nmodified retrospective basis as of September 30, 2018, the first day of fiscal 2019.\nThe Company was required to account for an internal restructuring under ASU 2016-16 and recorded a $27.8 million increase to income tax expense and\nincome tax liabilities and a decrease of $37.7 million to deferred tax expense and net deferred tax liabilities for the fiscal year ended September 28, 2019. The net\nresult was a reduction to net loss of $9.9 million, or $0.04 to diluted net loss per share.\nNon-Income Tax Matters",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_revenue",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Revenues 5632.3m",
      "golden_context": "Page 126:\n\nepreciation expense to its reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no intersegment\nrevenues. Segment information for fiscal 2021, 2020, and 2019 was as follows:\nYears ended\nSeptember 25,\n2021\nSeptember 26,\n2020\nSeptember 28,\n2019\nTotal revenues:\nDiagnostics $ 3,695.0 $ 2,102.1 $ 1,205.5\nBreast Health 1,352.3 1,151.9 1,314.2\nGYN Surgical 488.1 376.1 437.2\nSkeletal Health 96.9 81.0 94.8\nMedical Aesthetics — 65.3 315.6\n$ 5,632.3 $ 3,776.4 $ 3,367.3\nOperating income (loss):\nDiagnostics $ 2,140.1 $ 929.7 $ 163.1\nBreast Health 284.2 192.8 399.3\nGYN Surgical 58.9 42.0 99.2\nSkeletal Health (2.9) (2.4) (4.2)\nMedical Aesthetics — (57.1) (781.2)\n$ 2,480.3 $ 1,105.0 $ (123.8)\nDepreciation and amortization:\nDiagnostics $ 260.4 $ 237.3 $ 246.6\nBreast Health 52.7 48.8 36.8\nGYN Surgical 93.1 85.1 87.7\nSkeletal Health 0.7 0.7 0.6\nMedical Aesthetics — 4.1 91.4\n$ 406.9 $ 376.0 $ 463.1\nCapital expenditures:\nDiagnostics $ 126.2 $ 110.7 $ 59.2\nBreast Health 14.2 22.4 18.3\nGYN Surgical 14.5 17.9 15.7\nSkeletal Health 0.3 0.2 1.2\nMedical Aesthetics — 1.4 7.0\nCorporate 1.0 3.8 7.7\n$ 156.2 $ 156.4 $ 109.1\nIdentifiable assets:\nDiagnostics $ 3,348.8 $ 2,161.4 $ 2,276.6\nBreast Health 1,233.9 1,200.9 1,127.8\nGYN Surgical 1,369.7 1,438.7 1,328.6\nSkeletal Health 31.9 38.9 27.3\nMedical Aesthetics — — 159.3\nCorporate 2,935.6 2,355.9 1,522.5\n$ 8,919.9 $ 7,195.8 $ 6,442.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_revenue_growth",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 5632.3m, prior year 3776.4m",
      "golden_context": "Page 126:\n\nepreciation expense to its reportable segments. The Company has presented all other identifiable assets as corporate assets. There were no intersegment\nrevenues. Segment information for fiscal 2021, 2020, and 2019 was as follows:\nYears ended\nSeptember 25,\n2021\nSeptember 26,\n2020\nSeptember 28,\n2019\nTotal revenues:\nDiagnostics $ 3,695.0 $ 2,102.1 $ 1,205.5\nBreast Health 1,352.3 1,151.9 1,314.2\nGYN Surgical 488.1 376.1 437.2\nSkeletal Health 96.9 81.0 94.8\nMedical Aesthetics — 65.3 315.6\n$ 5,632.3 $ 3,776.4 $ 3,367.3\nOperating income (loss):\nDiagnostics $ 2,140.1 $ 929.7 $ 163.1\nBreast Health 284.2 192.8 399.3\nGYN Surgical 58.9 42.0 99.2\nSkeletal Health (2.9) (2.4) (4.2)\nMedical Aesthetics — (57.1) (781.2)\n$ 2,480.3 $ 1,105.0 $ (123.8)\nDepreciation and amortization:\nDiagnostics $ 260.4 $ 237.3 $ 246.6\nBreast Health 52.7 48.8 36.8\nGYN Surgical 93.1 85.1 87.7\nSkeletal Health 0.7 0.7 0.6\nMedical Aesthetics — 4.1 91.4\n$ 406.9 $ 376.0 $ 463.1\nCapital expenditures:\nDiagnostics $ 126.2 $ 110.7 $ 59.2\nBreast Health 14.2 22.4 18.3\nGYN Surgical 14.5 17.9 15.7\nSkeletal Health 0.3 0.2 1.2\nMedical Aesthetics — 1.4 7.0\nCorporate 1.0 3.8 7.7\n$ 156.2 $ 156.4 $ 109.1\nIdentifiable assets:\nDiagnostics $ 3,348.8 $ 2,161.4 $ 2,276.6\nBreast Health 1,233.9 1,200.9 1,127.8\nGYN Surgical 1,369.7 1,438.7 1,328.6\nSkeletal Health 31.9 38.9 27.3\nMedical Aesthetics — — 159.3\nCorporate 2,935.6 2,355.9 1,522.5\n$ 8,919.9 $ 7,195.8 $ 6,442.1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000320_segments",
      "report_id": "ID_000320",
      "company_name": "Hologic",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Diagnostics, Breast Health, GYN Surgical and Skeletal\nHealth",
      "golden_context": "Page 124:\n\ns Segments and Geographic Information\nThe Company reports segment information in accordance with ASC 280, Segment Reporting. Operating segments are identified as components of an\nenterprise about which separate, discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in\nmaking decisions about how to allocate resources and assess performance. The Company’s chief operating decision maker is its chief executive officer, and the\nCompany’s reportable segments have been identified based on the types of products manufactured and the end markets to which the products are sold. Each\nreportable segment generates revenue from either the sale of medical equipment and related services and/or sale of disposable supplies, primarily used for\ndiagnostic testing and surgical procedures. During fiscal 2021, the Company had four reportable segments: Diagnostics, Breast Health, GYN Surgical and Skeletal\nHealth. During the first quarter of fiscal 2020 and\nF-56\nTable of Contents\nfiscal 2019, the Company had five reportable segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical and Skeletal Health. The Company\ncompleted the sale of its Medical Aesthetics business on December 30, 2019. The Company measures and evaluates its reportable segments based on segment\nrevenues and operating income adjusted to exclude the effect of non-cash charges, such as intangible asset amortization expense, goodwill and intangible asset\nimpairment charges, transaction and integration expenses for acquisitions, restructuring, consolidation and divestiture charges, litigation charges, and other one-\ntime or unusual items.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_cash_flow",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2125.7m, investing: -206.3m, financing: -756m",
      "golden_context": "Page 76:\n\nHologic, Inc.\nConsolidated Statements of Cash Flows\n(In millions)\nYears ended\nSeptember 24,\n2022\nSeptember 25,\n2021\nSeptember 26,\n2020\nOPERATING ACTIVITIES\nNet income $ 1,302.0 $ 1,869.7 $ 1,110.5\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 89.2 88.0 83.1\nAmortization 340.9 318.9 292.9\nStock-based compensation expense 66.7 65.0 83.3\nDeferred income taxes and other non-cash taxes (166.2) (70.1) (94.4)\nIntangible asset and equipment impairment charges 45.1 — 30.2\nContingent consideration fair value adjustments (39.5) (6.7) 0.3\nDebt extinguishment loss 0.7 21.6 —\nOther adjustments and non-cash items 32.6 31.0 27.0\nChanges in operating assets and liabilities, excluding the effect of\nacquisitions and dispositions:\nAccounts receivable 272.3 110.9 (427.1)\nInventory (136.6) (84.1) (25.3)\nPrepaid income taxes (23.3) 13.0 (3.8)\nPrepaid expenses and other assets 384.3 (56.3) (286.2)\nAccounts payable (14.4) 20.4 (4.9)\nAccrued expenses and other liabilities (15.8) (4.9) 96.0\nDeferred revenue (12.3) 14.0 15.0\nNet cash provided by operating activities 2,125.7 2,330.4 896.6\nINVESTING ACTIVITIES\nAcquisition of businesses, net of cash acquired (158.6) (1,164.7) (119.4)\nNet proceeds from sale of business — — 139.3\nPurchase of property and equipment (70.6) (118.3) (98.3)\nProceeds from the Department of Defense 75.0 21.5 —\nIncrease in equipment under customer usage agreements (56.6) (59.4) (58.1)\nPurchase of intellectual property — (6.5) —\nOther activity 4.5 (2.2) (5.1)\nNet cash used in investing activities (206.3) (1,329.6) (141.6)\nFINANCING ACTIVITIES\nProceeds from long-term debt, net of issuance costs 1,491.2 — —\nRepayment of long-term debt (1,387.5) (75.0) (45.8)\nProceeds from senior notes, net of issuance costs — 936.3 —\nRepayment of senior notes — (970.8) —\nProceeds from revolving credit line — — 750.0\nRepayments under revolving credit line — (250.0) (500.0)\nProceeds from accounts receivable securitization agreement — 320.0 16.0\nRepayments under accounts receivable securitization agreement (248.5) (71.5) (250.0)\nRepayment of acquired long-term debt (63.7) — —\nPurchase of non-controlling interest — (8.5) (1.8)\nPayment of contingent consideration (12.2) — —\nPayment of deferred acquisition consideration — (1.9) (24.3)\nRepurchases of common stock (542.1) (409.8) (653.6)\nF-10\nTable of Contents\nNet proceeds from issuance of common stock under employee stock plans 33.5 51.3 65.6\nPayment of minimum tax withholdings on net share settlements of equity\nawards (22.9) (47.5) (14.3)\nPayments under finance lease obligations (3.8) (2.4) (1.7)\nNet cash used in financing activities (756.0) (529.8) (659.9)\nEffect of exchange rate changes on cash and cash equivalents 5.8 (1.7) 4.1\nNet increase in cash and cash equivalents 1,169.2 469.3 99.2\nCash and cash equivalents, beginning of period 1,170.3 701.0 601.8\nCash and cash equivalents, end of period $ 2,339.5 $ 1,170.3 $ 701.0\nSee accompanying notes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_company_type",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n__________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended: September 24, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-36214\n__________________________________________________________\nHOLOGIC, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2902449\n(State or Other Jurisdiction of\n(I.R.S. Employer Identification No.)\nIncorporation or Organization)\n250 Campus Drive, Marlborough, Massachusetts 01752\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s Telephone Number, Including Area Code (508) 263-2900\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on which Registered\nCommon Stock, $0.01 par value HOLX The NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\n__________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,\nsmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_key_financials",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Decrease in product revenues of 15.6%, revenues 4862.8m, income from operations 1640.2m",
      "golden_context": "Page 38:\n\nTable of Contents\nRESULTS OF OPERATIONS\nFiscal Year Ended September 24, 2022 Compared to Fiscal Year Ended September 25, 2021\nProduct Revenues\nFiscal Years Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount\n% of Total\nRevenue Amount\n% of Total\nRevenue Amount %\nProduct Revenues\nDiagnostics $ 2,924.6 60.1 % $ 3,596.1 63.9 % $ (671.5) (18.7) %\nBreast Health 680.5 14.0 % 815.1 14.5 % (134.6) (16.5) %\nGYN Surgical 521.4 10.7 % 486.8 8.6 % 34.6 7.1 %\nSkeletal Health 64.7 1.3 % 69.3 1.2 % (4.6) (6.6) %\n$ 4,191.2 86.2 % $ 4,967.3 88.2 % $ (776.1) (15.6) %\nWe had a decrease in product revenue of 15.6% in fiscal 2022 compared to fiscal 2021. This decrease was primarily due\nto the decline in revenues in the Diagnostics business as a result of lower COVID-19 assay sales, a decrease in Breast Health\nrevenue, which we primarily attribute to supply chain constraints, and to a lesser extent the negative effect from the unfavorable\nforeign currency exchange impact of the strengthened U.S. dollar against a number of currencies. The decrease in product\nrevenues in fiscal 2022 compared to fiscal 2021 was partially offset by an increase in GYN Surgical product revenue due to an\nincrease in sales volume of these products which we attribute to a recovery of elective procedures as COVID-19 restrictions\neased, as well as an increase from our recent acquisitions.\nDiagnostics product revenues decreased 18.7% in fiscal 2022 compared to fiscal 2021 primarily due to decreases in\nMolecular Diagnostics of $656.4 million and a decrease in blood-screening of $15.8 million, partially offset by an increase in\nCytology and Perinatal revenue of $0.7 million. While we divested our blood screening business in the second quarter of fiscal\n2017, we continue to provide long-term access to Panther instrumentation and certain supplies to the purchaser of that business.\nMolecular Diagnostics product revenue was $2,427.5 million in fiscal 2022 compared to $3,083.9 million in fiscal 2021. The\ndecrease was primarily attributable to a reduction of $729.0 million in sales our two SARS-CoV-2 assays (primarily the Aptima\nSARS-CoV-2 assay and to a lesser extent the Panther Fusion SARS-CoV-2 assay) to $1,430.5 million in fiscal 2022 compared\nto $2,159.5 million in fiscal 2021 primarily due to lower demand from an improvement in the COVID-19 pandemic and, to a\nlesser extent, the impact of at-home testing alternatives and lower average selling prices on a worldwide basis . We also had a\ndecrease in Panther and Panther Fusion instrument sales in fiscal 2022 compared to fiscal 2021 as sales in fiscal 2021 were\nhigher primarily due to the COVID-19 pandemic as customers expanded their Covid assay testing capacity. These decreases\nwere partially offset by an increase of $53.6 million in our Aptima assays and STD collection kits (exclusive of our SARS-\nCoV-2 assay), which primarily consist of our CTGC, Bacterial Vaginosis, and CV Candida assays, on a worldwide basis as\nvolumes increased, partially offset by lower HPV assay volumes and a decrease in average selling prices. In addition, we had an\nincrease of $32.6 million in worldwide sales of our Quant Viral assays and Fusion respiratory products in the current fiscal\nyear. The inclusion of Diagenode and Mobidiag products contributed $13.3 million of incremental product revenue in the\ncurrent fiscal year. We also experienced a decrease in revenue from international sales denominated in foreign currencies from\nthe unfavorable foreign currency exchange impact of the strengthened U.S. dollar against a number of currencies. We expect\nthat sales of our COVID-19 assays will continue to decline in fiscal 2023 compared to the current fiscal year as the pandemic\nrecedes and given the continued distribution of vaccines and boosters.\nBreast Health product revenues decreased 16.5% in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nvolumes of our digital mammography systems, primarily 3D Dimensions systems, related software and workflow products,\nAffirm biopsy systems and Brevera biopsy systems. The decrease in volume was primarily driven by supply chain constraints\nrelated to electronic components, primarily semiconductor chips, that impacted our ability to manufacture sufficient quantities\nto meet customer demand. We continue to have strong back orders for our capital equipment. These decreases were partially\noffset by an increase in average selling prices, as well as an increase in sales of our interventional breast solutions products,\nprimarily driven by ATEC and Brevera disposables. We also experienced a decrease in revenue from international sales\ndenominated in foreign currencies from the unfavorable foreign currency exchan\n\nPage 44:\n\nable of Contents\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 3,018.5 $ 3,695.0 $ (676.5) (18.3) %\nOperating Income $ 1,359.4 $ 2,140.1 $ (780.7) (36.5) %\nOperating Income as a % of Segment Revenue 45.0 % 57.9 %\nDiagnostics revenues, as discussed above, decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nsales of our SARS-CoV-2 assays and a decrease in royalty revenue from Grifols related to licensing our intellectual property of\nour COVID-19 assays for their sale in Spain, partially offset by revenue from recent acquisitions and an increase in sales of our\nAptima and Quant Viral assays.\nOperating income for this business segment decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease\nin gross profit from lower revenues and an increase in operating expenses. Gross margin was 67.1% in the current year\ncompared to 73.2% in the prior year. The decrease in gross margin was primarily due to decreased sales of our SARS-CoV-2\nassays which have a higher margin, an increase in intangible asset amortization expense from recent acquisitions, lower Grifols\nlicense revenue, an increase in inventory reserves, higher field service costs for our expanded install bases and an increase in\nfreight internationally, partially offset by the inclusion of Biotheranostics lab testing revenue which has a higher gross margin\nthan our legacy businesses.\nOperating expenses increased in fiscal 2022 compared to fiscal 2021 primarily due to the IPR&D charge of $27.7 million,\nthe inclusion of operating expenses from the Biotheranostics, Mobidiag, and Diagenode acquisitions in the amount of $67.6\nmillion, an increase in allocated advertising and charitable contributions, an increase in marketing initiatives, trade shows,\nmeetings and travel expenses. These increases were partially offset by lower acquisition transaction costs, lower bonus and\nexpense from our deferred compensation plan, lower integration costs, lower bad debt expense, lower MDR/IVDR\nimplementation costs, and a higher BARDA credit of $3.2 million in the current year.\nBreast Health\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 1,227.8 $ 1,352.2 $ (124.4) (9.2) %\nOperating Income $ 183.2 $ 284.2 $ (101.0) (35.5) %\nOperating Income as a % of Segment Revenue 14.9 % 21.0 %\nBreast Health revenues decreased in fiscal 2022 compared to fiscal 2021 primarily due t\n\nPage 71:\n\nologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 24,\n2022\nSeptember 25,\n2021\nSeptember 26,\n2020\nRevenues:\nProduct $ 4,191.2 $ 4,967.3 $ 3,227.0\nService and other 671.6 665.0 549.4\n4,862.8 5,632.3 3,776.4\nCosts of revenues:\nProduct 1,166.1 1,205.1 953.7\nAmortization of acquired intangible assets 295.7 276.7 253.2\nImpairment of acquired intangible assets and\nequipment 17.4 — 25.8\nService and other 386.2 354.7 316.2\nGross Profit 2,997.4 3,795.8 2,227.5\nOperating expenses:\nResearch and development 283.4 276.3 222.5\nSelling and marketing 630.3 561.2 484.6\nGeneral and administrative 407.7 433.2 355.7\nAmortization of acquired intangible assets 45.2 42.2 39.7\nImpairment of acquired intangible assets and\nequipment 27.7 — 4.4\nContingent consideration – fair value adjustments (39.5) (6.7) 0.3\nRestructuring and divestiture charges 2.4 9.3 15.3\n1,357.2 1,315.5 1,122.5\nIncome from operations 1,640.2 2,480.3 1,105.0\nInterest income 12.9 1.4 4.3\nInterest expense (95.1) (93.6) (116.5)\nDebt extinguishment loss (0.7) (21.6) —\nOther income (expense), net 30.9 (5.4) 9.1\nIncome before income taxes 1,588.2 2,361.1 1,001.9\nProvision (benefit) for income taxes 286.2 491.4 (108.6)\nNet income $ 1,302.0 $ 1,869.7 $ 1,110.5\nNet loss attributable to noncontrolling interest — (1.8) (4.7)\nNet income attributable to Hologic $ 1,302.0 $ 1,871.5 $ 1,115.2\nNet income per common share attributable to Hologic:\nBasic $ 5.18 $ 7.28 $ 4.24\nDiluted $ 5.13 $ 7.21 $ 4.21\nWeighted average number of shares outstanding:\nBasic 251,527 257,046 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_revenue",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "4862.8m",
      "golden_context": "Page 38:\n\nTable of Contents\nRESULTS OF OPERATIONS\nFiscal Year Ended September 24, 2022 Compared to Fiscal Year Ended September 25, 2021\nProduct Revenues\nFiscal Years Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount\n% of Total\nRevenue Amount\n% of Total\nRevenue Amount %\nProduct Revenues\nDiagnostics $ 2,924.6 60.1 % $ 3,596.1 63.9 % $ (671.5) (18.7) %\nBreast Health 680.5 14.0 % 815.1 14.5 % (134.6) (16.5) %\nGYN Surgical 521.4 10.7 % 486.8 8.6 % 34.6 7.1 %\nSkeletal Health 64.7 1.3 % 69.3 1.2 % (4.6) (6.6) %\n$ 4,191.2 86.2 % $ 4,967.3 88.2 % $ (776.1) (15.6) %\nWe had a decrease in product revenue of 15.6% in fiscal 2022 compared to fiscal 2021. This decrease was primarily due\nto the decline in revenues in the Diagnostics business as a result of lower COVID-19 assay sales, a decrease in Breast Health\nrevenue, which we primarily attribute to supply chain constraints, and to a lesser extent the negative effect from the unfavorable\nforeign currency exchange impact of the strengthened U.S. dollar against a number of currencies. The decrease in product\nrevenues in fiscal 2022 compared to fiscal 2021 was partially offset by an increase in GYN Surgical product revenue due to an\nincrease in sales volume of these products which we attribute to a recovery of elective procedures as COVID-19 restrictions\neased, as well as an increase from our recent acquisitions.\nDiagnostics product revenues decreased 18.7% in fiscal 2022 compared to fiscal 2021 primarily due to decreases in\nMolecular Diagnostics of $656.4 million and a decrease in blood-screening of $15.8 million, partially offset by an increase in\nCytology and Perinatal revenue of $0.7 million. While we divested our blood screening business in the second quarter of fiscal\n2017, we continue to provide long-term access to Panther instrumentation and certain supplies to the purchaser of that business.\nMolecular Diagnostics product revenue was $2,427.5 million in fiscal 2022 compared to $3,083.9 million in fiscal 2021. The\ndecrease was primarily attributable to a reduction of $729.0 million in sales our two SARS-CoV-2 assays (primarily the Aptima\nSARS-CoV-2 assay and to a lesser extent the Panther Fusion SARS-CoV-2 assay) to $1,430.5 million in fiscal 2022 compared\nto $2,159.5 million in fiscal 2021 primarily due to lower demand from an improvement in the COVID-19 pandemic and, to a\nlesser extent, the impact of at-home testing alternatives and lower average selling prices on a worldwide basis . We also had a\ndecrease in Panther and Panther Fusion instrument sales in fiscal 2022 compared to fiscal 2021 as sales in fiscal 2021 were\nhigher primarily due to the COVID-19 pandemic as customers expanded their Covid assay testing capacity. These decreases\nwere partially offset by an increase of $53.6 million in our Aptima assays and STD collection kits (exclusive of our SARS-\nCoV-2 assay), which primarily consist of our CTGC, Bacterial Vaginosis, and CV Candida assays, on a worldwide basis as\nvolumes increased, partially offset by lower HPV assay volumes and a decrease in average selling prices. In addition, we had an\nincrease of $32.6 million in worldwide sales of our Quant Viral assays and Fusion respiratory products in the current fiscal\nyear. The inclusion of Diagenode and Mobidiag products contributed $13.3 million of incremental product revenue in the\ncurrent fiscal year. We also experienced a decrease in revenue from international sales denominated in foreign currencies from\nthe unfavorable foreign currency exchange impact of the strengthened U.S. dollar against a number of currencies. We expect\nthat sales of our COVID-19 assays will continue to decline in fiscal 2023 compared to the current fiscal year as the pandemic\nrecedes and given the continued distribution of vaccines and boosters.\nBreast Health product revenues decreased 16.5% in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nvolumes of our digital mammography systems, primarily 3D Dimensions systems, related software and workflow products,\nAffirm biopsy systems and Brevera biopsy systems. The decrease in volume was primarily driven by supply chain constraints\nrelated to electronic components, primarily semiconductor chips, that impacted our ability to manufacture sufficient quantities\nto meet customer demand. We continue to have strong back orders for our capital equipment. These decreases were partially\noffset by an increase in average selling prices, as well as an increase in sales of our interventional breast solutions products,\nprimarily driven by ATEC and Brevera disposables. We also experienced a decrease in revenue from international sales\ndenominated in foreign currencies from the unfavorable foreign currency exchan\n\nPage 44:\n\nable of Contents\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 3,018.5 $ 3,695.0 $ (676.5) (18.3) %\nOperating Income $ 1,359.4 $ 2,140.1 $ (780.7) (36.5) %\nOperating Income as a % of Segment Revenue 45.0 % 57.9 %\nDiagnostics revenues, as discussed above, decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nsales of our SARS-CoV-2 assays and a decrease in royalty revenue from Grifols related to licensing our intellectual property of\nour COVID-19 assays for their sale in Spain, partially offset by revenue from recent acquisitions and an increase in sales of our\nAptima and Quant Viral assays.\nOperating income for this business segment decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease\nin gross profit from lower revenues and an increase in operating expenses. Gross margin was 67.1% in the current year\ncompared to 73.2% in the prior year. The decrease in gross margin was primarily due to decreased sales of our SARS-CoV-2\nassays which have a higher margin, an increase in intangible asset amortization expense from recent acquisitions, lower Grifols\nlicense revenue, an increase in inventory reserves, higher field service costs for our expanded install bases and an increase in\nfreight internationally, partially offset by the inclusion of Biotheranostics lab testing revenue which has a higher gross margin\nthan our legacy businesses.\nOperating expenses increased in fiscal 2022 compared to fiscal 2021 primarily due to the IPR&D charge of $27.7 million,\nthe inclusion of operating expenses from the Biotheranostics, Mobidiag, and Diagenode acquisitions in the amount of $67.6\nmillion, an increase in allocated advertising and charitable contributions, an increase in marketing initiatives, trade shows,\nmeetings and travel expenses. These increases were partially offset by lower acquisition transaction costs, lower bonus and\nexpense from our deferred compensation plan, lower integration costs, lower bad debt expense, lower MDR/IVDR\nimplementation costs, and a higher BARDA credit of $3.2 million in the current year.\nBreast Health\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 1,227.8 $ 1,352.2 $ (124.4) (9.2) %\nOperating Income $ 183.2 $ 284.2 $ (101.0) (35.5) %\nOperating Income as a % of Segment Revenue 14.9 % 21.0 %\nBreast Health revenues decreased in fiscal 2022 compared to fiscal 2021 primarily due t\n\nPage 71:\n\nologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 24,\n2022\nSeptember 25,\n2021\nSeptember 26,\n2020\nRevenues:\nProduct $ 4,191.2 $ 4,967.3 $ 3,227.0\nService and other 671.6 665.0 549.4\n4,862.8 5,632.3 3,776.4\nCosts of revenues:\nProduct 1,166.1 1,205.1 953.7\nAmortization of acquired intangible assets 295.7 276.7 253.2\nImpairment of acquired intangible assets and\nequipment 17.4 — 25.8\nService and other 386.2 354.7 316.2\nGross Profit 2,997.4 3,795.8 2,227.5\nOperating expenses:\nResearch and development 283.4 276.3 222.5\nSelling and marketing 630.3 561.2 484.6\nGeneral and administrative 407.7 433.2 355.7\nAmortization of acquired intangible assets 45.2 42.2 39.7\nImpairment of acquired intangible assets and\nequipment 27.7 — 4.4\nContingent consideration – fair value adjustments (39.5) (6.7) 0.3\nRestructuring and divestiture charges 2.4 9.3 15.3\n1,357.2 1,315.5 1,122.5\nIncome from operations 1,640.2 2,480.3 1,105.0\nInterest income 12.9 1.4 4.3\nInterest expense (95.1) (93.6) (116.5)\nDebt extinguishment loss (0.7) (21.6) —\nOther income (expense), net 30.9 (5.4) 9.1\nIncome before income taxes 1,588.2 2,361.1 1,001.9\nProvision (benefit) for income taxes 286.2 491.4 (108.6)\nNet income $ 1,302.0 $ 1,869.7 $ 1,110.5\nNet loss attributable to noncontrolling interest — (1.8) (4.7)\nNet income attributable to Hologic $ 1,302.0 $ 1,871.5 $ 1,115.2\nNet income per common share attributable to Hologic:\nBasic $ 5.18 $ 7.28 $ 4.24\nDiluted $ 5.13 $ 7.21 $ 4.21\nWeighted average number of shares outstanding:\nBasic 251,527 257,046 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_revenue_growth",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "4862.8m, prior year 5632.3m",
      "golden_context": "Page 38:\n\nTable of Contents\nRESULTS OF OPERATIONS\nFiscal Year Ended September 24, 2022 Compared to Fiscal Year Ended September 25, 2021\nProduct Revenues\nFiscal Years Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount\n% of Total\nRevenue Amount\n% of Total\nRevenue Amount %\nProduct Revenues\nDiagnostics $ 2,924.6 60.1 % $ 3,596.1 63.9 % $ (671.5) (18.7) %\nBreast Health 680.5 14.0 % 815.1 14.5 % (134.6) (16.5) %\nGYN Surgical 521.4 10.7 % 486.8 8.6 % 34.6 7.1 %\nSkeletal Health 64.7 1.3 % 69.3 1.2 % (4.6) (6.6) %\n$ 4,191.2 86.2 % $ 4,967.3 88.2 % $ (776.1) (15.6) %\nWe had a decrease in product revenue of 15.6% in fiscal 2022 compared to fiscal 2021. This decrease was primarily due\nto the decline in revenues in the Diagnostics business as a result of lower COVID-19 assay sales, a decrease in Breast Health\nrevenue, which we primarily attribute to supply chain constraints, and to a lesser extent the negative effect from the unfavorable\nforeign currency exchange impact of the strengthened U.S. dollar against a number of currencies. The decrease in product\nrevenues in fiscal 2022 compared to fiscal 2021 was partially offset by an increase in GYN Surgical product revenue due to an\nincrease in sales volume of these products which we attribute to a recovery of elective procedures as COVID-19 restrictions\neased, as well as an increase from our recent acquisitions.\nDiagnostics product revenues decreased 18.7% in fiscal 2022 compared to fiscal 2021 primarily due to decreases in\nMolecular Diagnostics of $656.4 million and a decrease in blood-screening of $15.8 million, partially offset by an increase in\nCytology and Perinatal revenue of $0.7 million. While we divested our blood screening business in the second quarter of fiscal\n2017, we continue to provide long-term access to Panther instrumentation and certain supplies to the purchaser of that business.\nMolecular Diagnostics product revenue was $2,427.5 million in fiscal 2022 compared to $3,083.9 million in fiscal 2021. The\ndecrease was primarily attributable to a reduction of $729.0 million in sales our two SARS-CoV-2 assays (primarily the Aptima\nSARS-CoV-2 assay and to a lesser extent the Panther Fusion SARS-CoV-2 assay) to $1,430.5 million in fiscal 2022 compared\nto $2,159.5 million in fiscal 2021 primarily due to lower demand from an improvement in the COVID-19 pandemic and, to a\nlesser extent, the impact of at-home testing alternatives and lower average selling prices on a worldwide basis . We also had a\ndecrease in Panther and Panther Fusion instrument sales in fiscal 2022 compared to fiscal 2021 as sales in fiscal 2021 were\nhigher primarily due to the COVID-19 pandemic as customers expanded their Covid assay testing capacity. These decreases\nwere partially offset by an increase of $53.6 million in our Aptima assays and STD collection kits (exclusive of our SARS-\nCoV-2 assay), which primarily consist of our CTGC, Bacterial Vaginosis, and CV Candida assays, on a worldwide basis as\nvolumes increased, partially offset by lower HPV assay volumes and a decrease in average selling prices. In addition, we had an\nincrease of $32.6 million in worldwide sales of our Quant Viral assays and Fusion respiratory products in the current fiscal\nyear. The inclusion of Diagenode and Mobidiag products contributed $13.3 million of incremental product revenue in the\ncurrent fiscal year. We also experienced a decrease in revenue from international sales denominated in foreign currencies from\nthe unfavorable foreign currency exchange impact of the strengthened U.S. dollar against a number of currencies. We expect\nthat sales of our COVID-19 assays will continue to decline in fiscal 2023 compared to the current fiscal year as the pandemic\nrecedes and given the continued distribution of vaccines and boosters.\nBreast Health product revenues decreased 16.5% in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nvolumes of our digital mammography systems, primarily 3D Dimensions systems, related software and workflow products,\nAffirm biopsy systems and Brevera biopsy systems. The decrease in volume was primarily driven by supply chain constraints\nrelated to electronic components, primarily semiconductor chips, that impacted our ability to manufacture sufficient quantities\nto meet customer demand. We continue to have strong back orders for our capital equipment. These decreases were partially\noffset by an increase in average selling prices, as well as an increase in sales of our interventional breast solutions products,\nprimarily driven by ATEC and Brevera disposables. We also experienced a decrease in revenue from international sales\ndenominated in foreign currencies from the unfavorable foreign currency exchan\n\nPage 44:\n\nable of Contents\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 3,018.5 $ 3,695.0 $ (676.5) (18.3) %\nOperating Income $ 1,359.4 $ 2,140.1 $ (780.7) (36.5) %\nOperating Income as a % of Segment Revenue 45.0 % 57.9 %\nDiagnostics revenues, as discussed above, decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease in\nsales of our SARS-CoV-2 assays and a decrease in royalty revenue from Grifols related to licensing our intellectual property of\nour COVID-19 assays for their sale in Spain, partially offset by revenue from recent acquisitions and an increase in sales of our\nAptima and Quant Viral assays.\nOperating income for this business segment decreased in fiscal 2022 compared to fiscal 2021 primarily due to a decrease\nin gross profit from lower revenues and an increase in operating expenses. Gross margin was 67.1% in the current year\ncompared to 73.2% in the prior year. The decrease in gross margin was primarily due to decreased sales of our SARS-CoV-2\nassays which have a higher margin, an increase in intangible asset amortization expense from recent acquisitions, lower Grifols\nlicense revenue, an increase in inventory reserves, higher field service costs for our expanded install bases and an increase in\nfreight internationally, partially offset by the inclusion of Biotheranostics lab testing revenue which has a higher gross margin\nthan our legacy businesses.\nOperating expenses increased in fiscal 2022 compared to fiscal 2021 primarily due to the IPR&D charge of $27.7 million,\nthe inclusion of operating expenses from the Biotheranostics, Mobidiag, and Diagenode acquisitions in the amount of $67.6\nmillion, an increase in allocated advertising and charitable contributions, an increase in marketing initiatives, trade shows,\nmeetings and travel expenses. These increases were partially offset by lower acquisition transaction costs, lower bonus and\nexpense from our deferred compensation plan, lower integration costs, lower bad debt expense, lower MDR/IVDR\nimplementation costs, and a higher BARDA credit of $3.2 million in the current year.\nBreast Health\nYears Ended\nSeptember 24, 2022 September 25, 2021 Change\nAmount Amount Amount %\nTotal Revenues $ 1,227.8 $ 1,352.2 $ (124.4) (9.2) %\nOperating Income $ 183.2 $ 284.2 $ (101.0) (35.5) %\nOperating Income as a % of Segment Revenue 14.9 % 21.0 %\nBreast Health revenues decreased in fiscal 2022 compared to fiscal 2021 primarily due t\n\nPage 71:\n\nologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 24,\n2022\nSeptember 25,\n2021\nSeptember 26,\n2020\nRevenues:\nProduct $ 4,191.2 $ 4,967.3 $ 3,227.0\nService and other 671.6 665.0 549.4\n4,862.8 5,632.3 3,776.4\nCosts of revenues:\nProduct 1,166.1 1,205.1 953.7\nAmortization of acquired intangible assets 295.7 276.7 253.2\nImpairment of acquired intangible assets and\nequipment 17.4 — 25.8\nService and other 386.2 354.7 316.2\nGross Profit 2,997.4 3,795.8 2,227.5\nOperating expenses:\nResearch and development 283.4 276.3 222.5\nSelling and marketing 630.3 561.2 484.6\nGeneral and administrative 407.7 433.2 355.7\nAmortization of acquired intangible assets 45.2 42.2 39.7\nImpairment of acquired intangible assets and\nequipment 27.7 — 4.4\nContingent consideration – fair value adjustments (39.5) (6.7) 0.3\nRestructuring and divestiture charges 2.4 9.3 15.3\n1,357.2 1,315.5 1,122.5\nIncome from operations 1,640.2 2,480.3 1,105.0\nInterest income 12.9 1.4 4.3\nInterest expense (95.1) (93.6) (116.5)\nDebt extinguishment loss (0.7) (21.6) —\nOther income (expense), net 30.9 (5.4) 9.1\nIncome before income taxes 1,588.2 2,361.1 1,001.9\nProvision (benefit) for income taxes 286.2 491.4 (108.6)\nNet income $ 1,302.0 $ 1,869.7 $ 1,110.5\nNet loss attributable to noncontrolling interest — (1.8) (4.7)\nNet income attributable to Hologic $ 1,302.0 $ 1,871.5 $ 1,115.2\nNet income per common share attributable to Hologic:\nBasic $ 5.18 $ 7.28 $ 4.24\nDiluted $ 5.13 $ 7.21 $ 4.21\nWeighted average number of shares outstanding:\nBasic 251,527 257,046 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000321_segments",
      "report_id": "ID_000321",
      "company_name": "Hologic",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Diagnostics, Breast Health, GYN Surgical and Skeletal Health",
      "golden_context": "Page 6:\n\nem 1. Business\nOverview\nWe are a developer, manufacturer and supplier of premium diagnostics products, medical imaging systems, and surgical\nproducts focused on women's health and well-being through early detection and treatment. We sell and service our products\nthrough a combination of direct sales and service personnel and a network of independent distributors and sales representatives.\nWe operate in four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. Until December 30, 2019, our\nproduct portfolio included aesthetic and medical treatment systems sold by our former Medical Aesthetics business. We\ncompleted the sale of our Medical Aesthetics segment on December 30, 2019 (the first day of the second quarter of fiscal\n2020).\nThrough our Diagnostics segment, we offer a wide range of diagnostic products, which are used primarily to aid in the\nscreening and diagnosis of human diseases. Our primary Diagnostics products include our molecular diagnostic assays, which\nrun on our advanced instrumentation systems (Panther, Panther Fusion and Tigris), our ThinPrep cytology system, and the\nRapid Fetal Fibronectin Test. Our Aptima family of molecular diagnostic assays is used to detect, among other things, the\ninfectious microorganisms that cause common sexually transmitted diseases, or STDs, such as chlamydia and gonorrhea, or\nCTGC; certain high-risk strains of human papillomavirus, or HPV; Trichomonas vaginalis, the parasite that causes\ntrichomoniasis; Mycoplasma genitalium; and Herpes Simplex viruses 1 and 2. We also offer viral load tests for the quantitation\nof Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, or HIV-1, and human cytomegalo virus, or CMV, for\nuse on our Panther instrument system. In addition, we offer bacterial vaginosis and candida vaginitis assays for the diagnosis of\nvaginitis, a common and complex ailment affecting millions of women a year. Our assay portfolio also includes diagnostic tests\nfor a range of acute respiratory infections, including SARS-CoV-2, various strains of influenza and parainfluenza, and\nrespiratory syncytial virus that are run on the Panther Fusion system, a field upgradeable instrument addition to the base Panther\nsystem. In response to the COVID-19 pandemic, we developed and launched the Aptima SARS-CoV-2 assay and the Aptima\nSARS-CoV-2/Flu assay (each of which runs on our standard Panther system) and the Panther Fusion SARS-CoV-2 assay\n(which runs on our Panther Fusion system). In May 2022, we CE-marked two new molecular assays, Panther Fusion EBV\nQuant assay for quantitation of Epstein-Barr virus, and the Panther Fusion BKV Quant assay for quantitation of the BK virus.\nThese two new assays are the first quantitative real-time PCR assays on the Panther Fusion system. These assays, along with\nthe Aptima CMV Quant assay already available in Europe, expand our Panther Fusion menu of transplant monitoring assays.\nThe ThinPrep System is primarily used in cytology applications, such as cervical cancer screening, and the Rapid Fetal\nFibronectin Test assists physicians in assessing the risk of pre-term birth. We also generate service revenues from our CLIA-\ncertified laboratory for testing related to breast cancer and all metastatic cancers.\nOur Breast Health segment offers a broad portfolio of solutions for breast cancer care primarily in the areas of radiology,\nbreast surgery, pathology and treatment. These solutions include 3D digital mammography systems, image analytics software\nutilizing artificial intelligence, reading workstations, ultrasound imaging, minimally invasive breast biopsy guidance systems,\nbreast biopsy site markers, localization, specimen radiology, connectivity solutions and breast conserving surgery products. Our\nmost advanced breast imaging platforms, Selenia Dimensions and 3Dimensions, utilize tomosynthesis to produce 3D images\nthat show multiple contiguous slice images of the breast, which we refer to as the Genius 3D Mammography exam.\nOur GYN Surgical products include our No",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_cash_flow",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1051.2m, investing: -152.1m, financing: -483.2m",
      "golden_context": "Page 75:\n\nHologic, Inc.\nConsolidated Statements of Cash Flows\n(In millions)\nYears ended\nSeptember 30,\n2023\nSeptember 24,\n2022\nSeptember 25,\n2021\nOPERATING ACTIVITIES\nNet income $ 456.0 $ 1,302.0 $ 1,869.7\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation 89.6 89.2 88.0\nAmortization of acquired intangible assets 233.8 340.9 318.9\nStock-based compensation expense 79.6 66.7 65.0\nDeferred income taxes and other non-cash taxes (109.1) (166.2) (70.1)\nIntangible assets and equipment impairment charges 223.8 45.1 —\nLoss on assets held-for-sale 51.7 — —\nContingent consideration-fair value adjustments (14.9) (39.5) (6.7)\nDebt extinguishment loss — 0.7 21.6\nOther adjustments and non-cash items 28.9 32.6 31.0\nChanges in operating assets and liabilities, excluding the effect of\nacquisitions:\nAccounts receivable (1.5) 272.3 110.9\nInventory (4.9) (136.6) (84.1)\nPrepaid income taxes 17.4 (23.3) 13.0\nPrepaid expenses and other assets 23.6 384.3 (56.3)\nAccounts payable (23.0) (14.4) 20.4\nAccrued expenses and other liabilities (14.2) (15.8) (4.9)\nDeferred revenue 14.4 (12.3) 14.0\nNet cash provided by operating activities 1,051.2 2,125.7 2,330.4\nINVESTING ACTIVITIES\nAcquisition of businesses, net of cash acquired (5.0) (158.6) (1,164.7)\nCapital expenditures (91.8) (70.6) (118.3)\nProceeds from the Department of Defense 20.5 75.0 21.5\nIncrease in equipment under customer usage agreements (58.4) (56.6) (59.4)\nPurchase of equity investment (10.0) — —\nPurchase of intellectual property — — (6.5)\nOther activity (7.4) 4.5 (2.2)\nNet cash used in investing activities (152.1) (206.3) (1,329.6)\nFINANCING ACTIVITIES\nProceeds from long-term debt, net of issuance costs — 1,491.2 —\nRepayment of long-term debt (15.0) (1,387.5) (75.0)\nProceeds from senior notes, net of issuance costs — — 936.3\nRepayment of senior notes — — (970.8)\nRepayments under revolving credit line — — (250.0)\nProceeds from accounts receivable securitization agreement — — 320.0\nRepayments under accounts receivable securitization agreement — (248.5) (71.5)\nRepayment of acquired long-term debt — (63.7) —\nPurchase of non-controlling interest — — (8.5)\nPayment of contingent consideration (7.6) (12.2) —\nF-9\nTable of Contents\nPayment of deferred acquisition consideration (0.8) — (1.9)\nRepurchases of common stock (474.8) (542.1) (409.8)\nNet proceeds from issuance of common stock under employee stock plans 43.0 33.5 51.3\nPayment of minimum tax withholdings on net share settlements of equity\nawards (24.0) (22.9) (47.5)\nPayments under finance lease obligations (4.0) (3.8) (2.4)\nNet cash used in financing activities (483.2) (756.0) (529.8)\nEffect of exchange rate changes on cash and cash equivalents 0.3 5.8 (1.7)\nNet increase in cash and cash equivalents 416.2 1,169.2 469.3\nCash and cash equivalents, beginning of period 2,339.5 1,170.3 701.0\nCash and cash equivalents, end of period* $ 2,755.7 $ 2,339.5 $ 1,170.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_company_type",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n__________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended: September 30, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 1-36214\n__________________________________________________________\nHOLOGIC, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 04-2902449\n(State or Other Jurisdiction of\n(I.R.S. Employer Identification No.)\nIncorporation or Organization)\n250 Campus Drive, Marlborough, Massachusetts 01752\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s Telephone Number, Including Area Code (508) 263-2900\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on which Registered\nCommon Stock, $0.01 par value HOLX The NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\n__________________________________________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities\nAct. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the\nAct. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,\nsmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”\n“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act (Check one).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_key_financials",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "gross profit: 2071.5m, net income per common share attributable to Hologic basic: 1.85, net income 456m",
      "golden_context": "Page 70:\n\nHologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 30,\n2023\nSeptember 24,\n2022\nSeptember 25,\n2021\nRevenues:\nProduct $ 3,279.9 $ 4,191.2 $ 4,967.3\nService and other 750.5 671.6 665.0\n4,030.4 4,862.8 5,632.3\nCosts of revenues:\nProduct 1,184.3 1,166.1 1,205.1\nAmortization of acquired intangible assets 205.7 295.7 276.7\nImpairment of intangible assets and equipment 179.5 17.4 —\nService and other 389.4 386.2 354.7\nGross profit 2,071.5 2,997.4 3,795.8\nOperating expenses:\nResearch and development 294.3 283.4 276.3\nSelling and marketing 595.2 630.3 561.2\nGeneral and administrative 392.4 407.7 433.2\nAmortization of acquired intangible assets 28.1 45.2 42.2\nImpairment of intangible assets and equipment 44.3 27.7 —\nContingent consideration – fair value adjustments (14.9) (39.5) (6.7)\nLoss on assets held-for-sale 51.7 — —\nRestructuring charges 12.0 2.4 9.3\n1,403.1 1,357.2 1,315.5\nIncome from operations 668.4 1,640.2 2,480.3\nInterest income 120.5 12.9 1.4\nInterest expense (111.1) (95.1) (93.6)\nDebt extinguishment loss — (0.7) (21.6)\nOther income (expense), net (1.7) 30.9 (5.4)\nIncome before income taxes 676.1 1,588.2 2,361.1\nProvision for income taxes 220.1 286.2 491.4\nNet income $ 456.0 $ 1,302.0 $ 1,869.7\nNet loss attributable to noncontrolling interest — — (1.8)\nNet income attributable to Hologic $ 456.0 $ 1,302.0 $ 1,871.5\nNet income per common share attributable to Hologic:\nBasic $ 1.85 $ 5.18 $ 7.28\nDiluted $ 1.83 $ 5.13 $ 7.21\nWeighted average number of shares outstanding:\nBasic 246,772 251,527 257,046\nDiluted 248,831 253,845 259,706",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_revenue",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "4030.4m",
      "golden_context": "Page 70:\n\nHologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 30,\n2023\nSeptember 24,\n2022\nSeptember 25,\n2021\nRevenues:\nProduct $ 3,279.9 $ 4,191.2 $ 4,967.3\nService and other 750.5 671.6 665.0\n4,030.4 4,862.8 5,632.3\nCosts of revenues:\nProduct 1,184.3 1,166.1 1,205.1\nAmortization of acquired intangible assets 205.7 295.7 276.7\nImpairment of intangible assets and equipment 179.5 17.4 —\nService and other 389.4 386.2 354.7\nGross profit 2,071.5 2,997.4 3,795.8\nOperating expenses:\nResearch and development 294.3 283.4 276.3\nSelling and marketing 595.2 630.3 561.2\nGeneral and administrative 392.4 407.7 433.2\nAmortization of acquired intangible assets 28.1 45.2 42.2\nImpairment of intangible assets and equipment 44.3 27.7 —\nContingent consideration – fair value adjustments (14.9) (39.5) (6.7)\nLoss on assets held-for-sale 51.7 — —\nRestructuring charges 12.0 2.4 9.3\n1,403.1 1,357.2 1,315.5\nIncome from operations 668.4 1,640.2 2,480.3\nInterest income 120.5 12.9 1.4\nInterest expense (111.1) (95.1) (93.6)\nDebt extinguishment loss — (0.7) (21.6)\nOther income (expense), net (1.7) 30.9 (5.4)\nIncome before income taxes 676.1 1,588.2 2,361.1\nProvision for income taxes 220.1 286.2 491.4\nNet income $ 456.0 $ 1,302.0 $ 1,869.7\nNet loss attributable to noncontrolling interest — — (1.8)\nNet income attributable to Hologic $ 456.0 $ 1,302.0 $ 1,871.5\nNet income per common share attributable to Hologic:\nBasic $ 1.85 $ 5.18 $ 7.28\nDiluted $ 1.83 $ 5.13 $ 7.21\nWeighted average number of shares outstanding:\nBasic 246,772 251,527 257,046\nDiluted 248,831 253,845 259,706",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_revenue_growth",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "4030.4m, prior year: 4862.8m",
      "golden_context": "Page 70:\n\nHologic, Inc.\nConsolidated Statements of Income\n(In millions, except number of shares, which are reflected in thousands, and per share data)\nYears ended\nSeptember 30,\n2023\nSeptember 24,\n2022\nSeptember 25,\n2021\nRevenues:\nProduct $ 3,279.9 $ 4,191.2 $ 4,967.3\nService and other 750.5 671.6 665.0\n4,030.4 4,862.8 5,632.3\nCosts of revenues:\nProduct 1,184.3 1,166.1 1,205.1\nAmortization of acquired intangible assets 205.7 295.7 276.7\nImpairment of intangible assets and equipment 179.5 17.4 —\nService and other 389.4 386.2 354.7\nGross profit 2,071.5 2,997.4 3,795.8\nOperating expenses:\nResearch and development 294.3 283.4 276.3\nSelling and marketing 595.2 630.3 561.2\nGeneral and administrative 392.4 407.7 433.2\nAmortization of acquired intangible assets 28.1 45.2 42.2\nImpairment of intangible assets and equipment 44.3 27.7 —\nContingent consideration – fair value adjustments (14.9) (39.5) (6.7)\nLoss on assets held-for-sale 51.7 — —\nRestructuring charges 12.0 2.4 9.3\n1,403.1 1,357.2 1,315.5\nIncome from operations 668.4 1,640.2 2,480.3\nInterest income 120.5 12.9 1.4\nInterest expense (111.1) (95.1) (93.6)\nDebt extinguishment loss — (0.7) (21.6)\nOther income (expense), net (1.7) 30.9 (5.4)\nIncome before income taxes 676.1 1,588.2 2,361.1\nProvision for income taxes 220.1 286.2 491.4\nNet income $ 456.0 $ 1,302.0 $ 1,869.7\nNet loss attributable to noncontrolling interest — — (1.8)\nNet income attributable to Hologic $ 456.0 $ 1,302.0 $ 1,871.5\nNet income per common share attributable to Hologic:\nBasic $ 1.85 $ 5.18 $ 7.28\nDiluted $ 1.83 $ 5.13 $ 7.21\nWeighted average number of shares outstanding:\nBasic 246,772 251,527 257,046\nDiluted 248,831 253,845 259,706",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000322_segments",
      "report_id": "ID_000322",
      "company_name": "Hologic",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "Diagnostics, Breast Health,\nGYN Surgical and Skeletal Health",
      "golden_context": "Page 7:\n\n, other documents as soon as reasonably practicable after we electronically file\nsuch material with, or furnish it to, the Securities and Exchange Commission (SEC). These SEC reports can be accessed\nthrough the investor relations section of our website. The information found on our website is not part of this or any other report\nwe file with or furnish to the SEC.\nInvestors and others should note that we announce material financial information to our investors using our investor\nrelations website (investors.hologic.com), SEC filings, press releases, public conference calls and webcasts. We use these\nchannels as well as social media to communicate with the public about our Company, our services and other issues. It is\npossible that the information we post on social media could be deemed to be material information. Therefore, we encourage\ninvestors, the media, and others interested in our Company to review the information we post on the social media channels\nlisted on our investor relations website. We have used, and intend to continue to use, our investor relations website, as well as\nour Twitter account (@Hologic), as means of disclosing material non-public information and for complying with our disclosure\nobligations under Regulation FD. Additional corporate governance information, including our certificate of incorporation,\nbylaws, governance guidelines, board committee charters, and code of business conduct and ethics, is also available on our\ninvestor relations website under the heading “Governance.” The contents of our websites are not intended to be incorporated by\nreference into this Annual Report or in any other report or document we file with the SEC, and any references to our websites\nare intended to be inactive textual references only.\nThe SEC maintains an internet website that contains reports, proxy and information statements, and other information\nregarding Hologic and other issuers that file electronically with the SEC. The SEC’s internet website address is www.sec.gov.\nProducts\nWe view our operations and manage our current business in four principal reporting segments: Diagnostics, Breast Health,\nGYN Surgical and Skeletal Health. Financial information concerning these segments is provided in Note 15 to our audited\nconsolidated financial statements contained in Item 15 of this Annual Report. The following describes our principal products in\neach of our segments.\nDiagnostics Product Offerings\nMolecular Diagnostic Instrumentation\nWe have developed and continue to develop instrumentation and software designed specifically for use with certain of our\nmolecular diagnostic assays. We also provide technical support and service to maintain these instrument systems in the field.\nBy placing our proprietary instrumentation in laboratories and hospitals, we can establish a platform for future sales of our\nassays.\nOur instrumentation includes the Tigris system, an integrated, fully automated testing instrument for high-volume\nlaboratories which is approved for use with certain of our Aptima assays; and the Panther instrument system, an integrated,\nfully automated testing instrument capable of serving high-, medium- and low-volume laboratories. Our Panther Fusion system,\nincluding the related Fusion assays for flu, respiratory and transplant testing, extends the capabilities of our Panther system by\nadding the flexibility of polymerase chain reaction, or PCR, functionality to our existing Transcription Mediated Amplification,\nor TMA, based technology. The Panther Fusion system is available as a modular in-lab upgrade to our base Panther system. In\naddition, our instrumentation also includes the Tomcat instrument, a fully automated general-purpose instrument designed to\nimprove pre-analytical sample processing by eliminating the inefficient and error-prone activities associated with manually\ntransferring samples from one tube to another.\nMolecular Diagnostic Assay Portfolio\nWe have a broad menu of assays available for sale in our primary markets that can be performed on the base Panther\nSystem or on the combined Panther Fusion System as indicated in the table below. Our Aptima family of molecular diagnostic\nassays integrate a number of proprietary core technolog",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_cash_flow",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operations: 726276k, investing: -1380743k, financing: 798983k",
      "golden_context": "Page 82:\n\nJACOBS ENGINEERING GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended October 1, 2021 , October 2, 2020 and September 27, 2019\n(In thousands)\nOctober 1, 2021 October 2, 2020 September 27, 2019\nCash Flows from Operating Activities:\nNet earnings attributable to the Group $ 430,829 $ 523,867 $ 873,219\nAdjustments to reconcile net earnings to net cash flows provided by (used for) operations:\nDepreciation and amortization:\nProperty, equipment and improvements 101,024 91,070 90,171\nIntangible assets 149,776 90,563 79,098\nGain on sale of ECR business (15,608) (110,236) (935,110)\nLoss on disposal of other businesses and investments — — 9,608\n(Gain) loss on investment in equity securities (71,325) 103,623 78,108\nStock based compensation 56,221 48,150 69,137\nEquity in earnings of operating ventures, net of return on capital distributions 10,941 9,172 (8,784)\nLoss on disposals of assets, net 1,003 766 6,222\nImpairment of equity method investment and other long term assets 40,640 162,238 —\nLoss (gain) on pension and retiree medical plan changes 2,783 4,598 (33,087)\nDeferred income taxes 113,623 82,275 (105,939)\nChanges in assets and liabilities, excluding the effects of businesses acquired:\nReceivables and contract assets, net of contract liabilities 242,154 (107,784) (67,894)\nPrepaid expenses and other current assets 6,800 (27,280) (13,117)\nMiscellaneous other assets 116,097 110,678 5,267\nAccounts payable (165,502) (92,838) 295,146\nIncome taxes payable 20,961 35,194 (294,995)\nAccrued liabilities (252,305) (27,849) (305,716)\nOther deferred liabilities (63,915) (64,390) (106,256)\nOther, net 2,079 (24,968) (1,514)\nNet cash provided by (used for) operating activities 726,276 806,849 (366,436)\nCash Flows from Investing Activities:\nAdditions to property and equipment (92,814) (118,269) (135,977)\nDisposals of property and equipment and other assets 474 96 7,177\nCapital contributions to equity investees, net of return of capital distributions (5,016) (12,278) (8,761)\nAcquisitions of businesses, net of cash acquired (1,741,062) (293,580) (575,110)\nDisposals of investment in equity securities 421,315 — 64,708\nProceeds (Payments) related to sales of businesses 36,360 (5,061) 2,801,425\nPurchases of noncontrolling interests — — (1,113)\nNet cash (used for) provided by investing activities (1,380,743) (429,092) 2,152,349\nCash Flows from Financing Activities:\nProceeds from long-term borrowings 4,445,080 2,986,661 2,782,193\nRepayments of long-term borrowings (3,216,965) (2,521,467) (3,996,970)\nProceeds from short-term borrowings — 78 200,001\nRepayments of short-term borrowings (7,675) (200,008) (28,566)\nDebt issuance costs (2,747) (1,807) (3,915)\nProceeds from issuances of common stock 38,077 37,235 64,958\nCommon stock repurchases (274,948) (337,251) (853,676)\nTaxes paid on vested restricted stock (25,867) (27,794) (26,641)\nCash dividends, including to noncontrolling interests (155,972) (143,962) (106,396)\nNet cash provided by (used for) financing activities 798,983 (208,315) (1,969,012)\nEffect of Exchange Rate Changes 19,635 61,914 20,809\nNet Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash 164,151 231,356 (162,290)\nCash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period 862,424 631,068 793,358\nCash and Cash Equivalents, including Restricted Cash, at the End of the Period $ 1,026,575 $ 862,424 $ 631,068\nSee the accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_company_type",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_________________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended October 1, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n____\n____\nCommission File No. 1-7463\n_________________________________________________________________\nJacobs Engineering Group Inc.\nDelaware 95-4081636\n(State or other jurisdiction of incorporation or organization) (IRS Employer\nidentification number)\n1999 Bryan Street Suite 1200 Dallas Texas 75201\n(Address of principal executive offices) (Zip Code)\n(214) 583 – 8500\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\n_________________________________________________________________\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock $1 par value J New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_________________________________________________________________\nIndicate by check-mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act: ☒ Yes ☐ No\nIndicate by check-mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. ☐ Yes ☒ No\nIndicate by check-mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No\nIndicate by check-mark whether the Registrant: has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)\nduring the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). ☒ Yes ☐ No\nIndicate by check-mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer”\n,\n“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_key_financials",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "revenues 14092632k, gross profit 3043772k, basic basic EPS 3.22",
      "golden_context": "Page 57:\n\nACOBS ENGINEERING GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended October 1, 2021, October 2, 2020 and September 27, 2019\n(In thousands, except per share information)\nOctober 1, 2021 October 2, 2020 September 27, 2019\nRevenues $ 14,092,632 $ 13,566,975 $ 12,737,868\nDirect cost of contracts (11,048,860) (10,980,307) (10,260,840)\nGross profit 3,043,772 2,586,668 2,477,028\nSelling, general and administrative expenses (2,355,683) (2,050,695) (2,072,177)\nOperating Profit 688,089 535,973 404,851\nOther Income (Expense):\nInterest income 3,503 4,729 9,487\nInterest expense (72,714) (62,206) (83,867)\nMiscellaneous income (expense), net 76,724 (37,293) 20,488\nTotal other income (expense), net 7,513 (94,770) (53,892)\nEarnings from Continuing Operations Before Taxes 695,602 441,203 350,959\nIncome Tax Expense for Continuing Operations (274,781) (55,320) (36,954)\nNet Earnings of the Group from Continuing Operations 420,821 385,883 314,005\nNet Earnings of the Group from Discontinued Operations 10,008 137,984 559,214\nNet Earnings of the Group 430,829 523,867 873,219\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (39,213) (32,022) (23,045)\nNet Loss Attributable to Redeemable Noncontrolling Interests 85,414 — —\nNet Earnings Attributable to Jacobs from Continuing Operations 467,022 353,861 290,960\nNet (Earnings) Attributable to Noncontrolling Interests from Discontinued Operations — — (2,195)\nNet Earnings Attributable to Jacobs from Discontinued Operations 10,008 137,984 557,019\nNet Earnings Attributable to Jacobs $ 477,030 $ 491,845 $ 847,979\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 3.15 $ 2.69 $ 2.11\nBasic Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.05 $ 4.03\nBasic Earnings Per Share $ 3.22 $ 3.74 $ 6.14\nDiluted Net Earnings from Continuing Operations Per Share $ 3.12 $ 2.67 $ 2.09\nDiluted Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.04 $ 4.00\nDiluted Earnings Per Share $ 3.20 $ 3.71 $ 6.08\n2021 Overview\nCOVID-19 Pandemic. There are many risks and uncertainties regarding the COVID-19 pandemic, including the anticipated duration of the pandemic and the extent of local\nand worldwide social, political, and economic disruption it may cause. The Company’s operations for fiscal 2021 were adversely impacted by COVID-19. While certain business units\nof Critical Mission Solutions, People & Places Solutions and PA Consulting have experienced, and may continue to experience, an increase in demand for certain of their services\nregarding new projects that may arise in response to the COVID-19 pandemic, it is still expected that COVID-19 is likely to continue to have an adverse impact on each of Critical\nMissions Solutions, People & Places Solutions and PA Consulting in fi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_revenue",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "revenues 14092632k",
      "golden_context": "Page 57:\n\nACOBS ENGINEERING GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended October 1, 2021, October 2, 2020 and September 27, 2019\n(In thousands, except per share information)\nOctober 1, 2021 October 2, 2020 September 27, 2019\nRevenues $ 14,092,632 $ 13,566,975 $ 12,737,868\nDirect cost of contracts (11,048,860) (10,980,307) (10,260,840)\nGross profit 3,043,772 2,586,668 2,477,028\nSelling, general and administrative expenses (2,355,683) (2,050,695) (2,072,177)\nOperating Profit 688,089 535,973 404,851\nOther Income (Expense):\nInterest income 3,503 4,729 9,487\nInterest expense (72,714) (62,206) (83,867)\nMiscellaneous income (expense), net 76,724 (37,293) 20,488\nTotal other income (expense), net 7,513 (94,770) (53,892)\nEarnings from Continuing Operations Before Taxes 695,602 441,203 350,959\nIncome Tax Expense for Continuing Operations (274,781) (55,320) (36,954)\nNet Earnings of the Group from Continuing Operations 420,821 385,883 314,005\nNet Earnings of the Group from Discontinued Operations 10,008 137,984 559,214\nNet Earnings of the Group 430,829 523,867 873,219\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (39,213) (32,022) (23,045)\nNet Loss Attributable to Redeemable Noncontrolling Interests 85,414 — —\nNet Earnings Attributable to Jacobs from Continuing Operations 467,022 353,861 290,960\nNet (Earnings) Attributable to Noncontrolling Interests from Discontinued Operations — — (2,195)\nNet Earnings Attributable to Jacobs from Discontinued Operations 10,008 137,984 557,019\nNet Earnings Attributable to Jacobs $ 477,030 $ 491,845 $ 847,979\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 3.15 $ 2.69 $ 2.11\nBasic Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.05 $ 4.03\nBasic Earnings Per Share $ 3.22 $ 3.74 $ 6.14\nDiluted Net Earnings from Continuing Operations Per Share $ 3.12 $ 2.67 $ 2.09\nDiluted Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.04 $ 4.00\nDiluted Earnings Per Share $ 3.20 $ 3.71 $ 6.08\n2021 Overview\nCOVID-19 Pandemic. There are many risks and uncertainties regarding the COVID-19 pandemic, including the anticipated duration of the pandemic and the extent of local\nand worldwide social, political, and economic disruption it may cause. The Company’s operations for fiscal 2021 were adversely impacted by COVID-19. While certain business units\nof Critical Mission Solutions, People & Places Solutions and PA Consulting have experienced, and may continue to experience, an increase in demand for certain of their services\nregarding new projects that may arise in response to the COVID-19 pandemic, it is still expected that COVID-19 is likely to continue to have an adverse impact on each of Critical\nMissions Solutions, People & Places Solutions and PA Consulting in fi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_revenue_growth",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 14092632k, prior year 13566975k",
      "golden_context": "Page 57:\n\nACOBS ENGINEERING GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended October 1, 2021, October 2, 2020 and September 27, 2019\n(In thousands, except per share information)\nOctober 1, 2021 October 2, 2020 September 27, 2019\nRevenues $ 14,092,632 $ 13,566,975 $ 12,737,868\nDirect cost of contracts (11,048,860) (10,980,307) (10,260,840)\nGross profit 3,043,772 2,586,668 2,477,028\nSelling, general and administrative expenses (2,355,683) (2,050,695) (2,072,177)\nOperating Profit 688,089 535,973 404,851\nOther Income (Expense):\nInterest income 3,503 4,729 9,487\nInterest expense (72,714) (62,206) (83,867)\nMiscellaneous income (expense), net 76,724 (37,293) 20,488\nTotal other income (expense), net 7,513 (94,770) (53,892)\nEarnings from Continuing Operations Before Taxes 695,602 441,203 350,959\nIncome Tax Expense for Continuing Operations (274,781) (55,320) (36,954)\nNet Earnings of the Group from Continuing Operations 420,821 385,883 314,005\nNet Earnings of the Group from Discontinued Operations 10,008 137,984 559,214\nNet Earnings of the Group 430,829 523,867 873,219\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (39,213) (32,022) (23,045)\nNet Loss Attributable to Redeemable Noncontrolling Interests 85,414 — —\nNet Earnings Attributable to Jacobs from Continuing Operations 467,022 353,861 290,960\nNet (Earnings) Attributable to Noncontrolling Interests from Discontinued Operations — — (2,195)\nNet Earnings Attributable to Jacobs from Discontinued Operations 10,008 137,984 557,019\nNet Earnings Attributable to Jacobs $ 477,030 $ 491,845 $ 847,979\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 3.15 $ 2.69 $ 2.11\nBasic Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.05 $ 4.03\nBasic Earnings Per Share $ 3.22 $ 3.74 $ 6.14\nDiluted Net Earnings from Continuing Operations Per Share $ 3.12 $ 2.67 $ 2.09\nDiluted Net Earnings from Discontinued Operations Per Share $ 0.08 $ 1.04 $ 4.00\nDiluted Earnings Per Share $ 3.20 $ 3.71 $ 6.08\n2021 Overview\nCOVID-19 Pandemic. There are many risks and uncertainties regarding the COVID-19 pandemic, including the anticipated duration of the pandemic and the extent of local\nand worldwide social, political, and economic disruption it may cause. The Company’s operations for fiscal 2021 were adversely impacted by COVID-19. While certain business units\nof Critical Mission Solutions, People & Places Solutions and PA Consulting have experienced, and may continue to experience, an increase in demand for certain of their services\nregarding new projects that may arise in response to the COVID-19 pandemic, it is still expected that COVID-19 is likely to continue to have an adverse impact on each of Critical\nMissions Solutions, People & Places Solutions and PA Consulting in fi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000323_segments",
      "report_id": "ID_000323",
      "company_name": "Jacobs Solutions",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Critical Mission Solutions (CMS), People & Places Solutions (P&PS) and a majority investment in PA\nConsulting (PA)",
      "golden_context": "Page 14:\n\nines of Business\nThe services we provide fall into the following two lines of business (LOB): Critical Mission Solutions (CMS), People & Places Solutions (P&PS) and a majority investment in PA\nConsulting (PA), which are also the Company’s reportable segments. For additional information regarding our segments, including information about our financial results by segment\nand financial results by geography, see Note 20 - Segment Information of Notes to Consolidated Financial Statements beginning on page F-1 of this Annual Report on Form 10-K.\nCritical Mission Solutions (CMS)\nOur Critical Mission Solutions line of business provides a full spectrum of cyber, data analytics, systems and software application integration services and consulting, enterprise level\noperations and maintenance and mission IT, engineering and design, enterprise operations and maintenance, program management, and other highly technical consulting solutions\nto government agencies as well as commercial customers and international markets. Our representative clients include the U.S. Department of Defense (DoD), the Combatant\nCommands, the U.S. Intelligence Community, NASA, the U.S. Department of Energy (DoE), U.K. Ministry of Defence, the U.K. Nuclear Decommissioning Authority (NDA), and the\nAustralian Department of Defence, as well as private sector customers mainly in the aerospace, automotive, energy and telecom sectors.\nServing mission-critical end markets\nCritical Mission Solutions serves broad sectors, including U.S. government services, cyber, nuclear, commercial and international sectors.\nFiscal Year 2021\nThe U.S. Government is the world’s largest buyer of technical services, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_cash_flow",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operationg: 474709k, \ninvesting: -538419k, \nfinancing: 320234k",
      "golden_context": "Page 84:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended September 30, 2022 , October 1, 2021 and October 2, 2020\n(In thousands)\nSeptember 30, 2022 October 1, 2021 October 2, 2020\nCash Flows from Operating Activities:\nNet earnings attributable to the Group $ 715,412 $ 430,829 $ 523,867\nAdjustments to reconcile net earnings to net cash flows provided by (used for) operations:\nDepreciation and amortization:\nProperty, equipment and improvements 102,454 101,024 91,070\nIntangible assets 198,602 149,776 90,563\nGain on sale of ECR business — (15,608) (110,236)\n(Gain) loss on investment in equity securities (13,862) (71,325) 103,623\nStock based compensation 53,383 56,221 48,150\nEquity in earnings of operating ventures, net of return on capital distributions 18,291 10,941 9,172\n(Gain) loss on disposals of assets, net (4,680) 1,003 766\nImpairment of equity method investment and other long term assets 78,292 40,640 162,238\nLoss on pension and retiree medical plan changes 123 2,783 4,598\nDeferred income taxes 111,846 113,623 82,275\nChanges in assets and liabilities, excluding the effects of businesses acquired:\nReceivables and contract assets, net of contract liabilities (267,947) 242,154 (107,784)\nPrepaid expenses and other current assets 6 6,800 (27,280)\nMiscellaneous other assets 113,850 116,097 110,678\nAccounts payable 87,402 (165,502) (92,838)\nIncome taxes payable (70,258) 20,961 35,194\nAccrued liabilities (552,036) (252,305) (27,849)\nOther deferred liabilities (73,697) (63,915) (64,390)\nOther, net (22,472) 2,079 (24,968)\nNet cash provided by operating activities 474,709 726,276 806,849\nCash Flows from Investing Activities:\nAdditions to property and equipment (127,615) (92,814) (118,269)\nDisposals of property and equipment and other assets 9,392 474 96\nCapital contributions to equity investees, net of return of capital distributions 3,025 (5,016) (12,278)\nAcquisitions of businesses, net of cash acquired (437,083) (1,741,062) (293,580)\nDisposals of investment in equity securities 13,862 421,315 —\nProceeds (Payments) related to sales of businesses — 36,360 (5,061)\nNet cash used for investing activities (538,419) (1,380,743) (429,092)\nCash Flows from Financing Activities:\nProceeds from long-term borrowings 3,145,500 4,445,080 2,986,661\nRepayments of long-term borrowings (2,420,166) (3,216,965) (2,521,467)\nProceeds from short-term borrowings — — 78\nRepayments of short-term borrowings (6,359) (7,675) (200,008)\nDebt issuance costs — (2,747) (1,807)\nProceeds from issuances of common stock 51,034 38,077 37,235\nCommon stock repurchases (281,926) (274,948) (337,251)\nTaxes paid on vested restricted stock (28,587) (25,867) (27,794)\nCash dividends to shareholders (115,948) (107,188) (97,900)\nNet dividends associated with noncontrolling interests (26,982) (48,784) (46,062)\nRepurchase of redeemable noncontrolling interests (46,074) — —\nProceeds from issuances of redeemable noncontrolling interests 49,742 — —\nNet cash provided by (used for) financing activities 320,234 798,983 (208,315)\nEffect of Exchange Rate Changes (128,892) 19,635 61,914\nNet Increase in Cash and Cash Equivalents and Restricted Cash 127,632 164,151 231,356\nCash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period 1,026,575 862,424 631,068\nCash and Cash Equivalents, including Restricted Cash, at the End of the Period $ 1,154,207 $ 1,026,575 $ 862,424\nSee the accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_company_type",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_________________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended September 30, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n____\n____\nCommission File No. 1-7463\n_________________________________________________________________\nJacobs Solutions Inc.\nDelaware 95-4081636\n(State or other jurisdiction of incorporation or organization) (IRS Employer\nidentification number)\n1999 Bryan Street Suite 1200 Dallas Texas 75201\n(Address of principal executive offices) (Zip Code)\n(214) 583 – 8500\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\n_________________________________________________________________\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock $1 par value J New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_________________________________________________________________\nIndicate by check-mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act: ☒ Yes ☐ No\nIndicate by check-mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. ☐ Yes ☒ No\nIndicate by check-mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No\nIndicate by check-mark whether the Registrant: has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)\nduring the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). ☒ Yes ☐ No\nIndicate by check-mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer”\n,\n“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_key_financials",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "revenues 14'922'825k, \ngross profit: 3'327'040k, \noperating profit: 917'850k, \ndiluted EPS 4.98",
      "golden_context": "Page 59:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 30, 2022, October 1, 2021 and October 2, 2020\n(In thousands, except per share information)\nSeptember 30, 2022 October 1, 2021 October 2, 2020\nRevenues $ 14,922,825 $ 14,092,632 $ 13,566,975\nDirect cost of contracts (11,595,785) (11,048,860) (10,980,307)\nGross profit 3,327,040 3,043,772 2,586,668\nSelling, general and administrative expenses (2,409,190) (2,355,683) (2,050,695)\nOperating Profit 917,850 688,089 535,973\nOther Income (Expense):\nInterest income 4,489 3,503 4,729\nInterest expense (100,246) (72,714) (62,206)\nMiscellaneous income (expense), net 54,254 76,724 (37,293)\nTotal other (expense) income, net (41,503) 7,513 (94,770)\nEarnings from Continuing Operations Before Taxes 876,347 695,602 441,203\nIncome Tax Expense for Continuing Operations (160,903) (274,781) (55,320)\nNet Earnings of the Group from Continuing Operations 715,444 420,821 385,883\nNet (Loss) Earnings of the Group from Discontinued Operations (32) 10,008 137,984\nNet Earnings of the Group 715,412 430,829 523,867\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (36,788) (39,213) (32,022)\nNet (Earnings) Loss Attributable to Redeemable Noncontrolling Interests (34,585) 85,414 —\nNet Earnings Attributable to Jacobs from Continuing Operations 644,071 467,022 353,861\nNet Earnings Attributable to Jacobs $ 644,039 $ 477,030 $ 491,845\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.01 $ 3.15 $ 2.69\nBasic Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.05\nBasic Earnings Per Share $ 5.01 $ 3.22 $ 3.74\nDiluted Net Earnings from Continuing Operations Per Share $ 4.98 $ 3.12 $ 2.67\nDiluted Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.04\nDiluted Earnings Per Share $ 4.98 $ 3.20 $ 3.71",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_revenue",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "revenues 14'922'825k",
      "golden_context": "Page 59:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 30, 2022, October 1, 2021 and October 2, 2020\n(In thousands, except per share information)\nSeptember 30, 2022 October 1, 2021 October 2, 2020\nRevenues $ 14,922,825 $ 14,092,632 $ 13,566,975\nDirect cost of contracts (11,595,785) (11,048,860) (10,980,307)\nGross profit 3,327,040 3,043,772 2,586,668\nSelling, general and administrative expenses (2,409,190) (2,355,683) (2,050,695)\nOperating Profit 917,850 688,089 535,973\nOther Income (Expense):\nInterest income 4,489 3,503 4,729\nInterest expense (100,246) (72,714) (62,206)\nMiscellaneous income (expense), net 54,254 76,724 (37,293)\nTotal other (expense) income, net (41,503) 7,513 (94,770)\nEarnings from Continuing Operations Before Taxes 876,347 695,602 441,203\nIncome Tax Expense for Continuing Operations (160,903) (274,781) (55,320)\nNet Earnings of the Group from Continuing Operations 715,444 420,821 385,883\nNet (Loss) Earnings of the Group from Discontinued Operations (32) 10,008 137,984\nNet Earnings of the Group 715,412 430,829 523,867\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (36,788) (39,213) (32,022)\nNet (Earnings) Loss Attributable to Redeemable Noncontrolling Interests (34,585) 85,414 —\nNet Earnings Attributable to Jacobs from Continuing Operations 644,071 467,022 353,861\nNet Earnings Attributable to Jacobs $ 644,039 $ 477,030 $ 491,845\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.01 $ 3.15 $ 2.69\nBasic Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.05\nBasic Earnings Per Share $ 5.01 $ 3.22 $ 3.74\nDiluted Net Earnings from Continuing Operations Per Share $ 4.98 $ 3.12 $ 2.67\nDiluted Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.04\nDiluted Earnings Per Share $ 4.98 $ 3.20 $ 3.71",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_revenue_growth",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 14'922'825k, prior year 14'092'632k",
      "golden_context": "Page 59:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 30, 2022, October 1, 2021 and October 2, 2020\n(In thousands, except per share information)\nSeptember 30, 2022 October 1, 2021 October 2, 2020\nRevenues $ 14,922,825 $ 14,092,632 $ 13,566,975\nDirect cost of contracts (11,595,785) (11,048,860) (10,980,307)\nGross profit 3,327,040 3,043,772 2,586,668\nSelling, general and administrative expenses (2,409,190) (2,355,683) (2,050,695)\nOperating Profit 917,850 688,089 535,973\nOther Income (Expense):\nInterest income 4,489 3,503 4,729\nInterest expense (100,246) (72,714) (62,206)\nMiscellaneous income (expense), net 54,254 76,724 (37,293)\nTotal other (expense) income, net (41,503) 7,513 (94,770)\nEarnings from Continuing Operations Before Taxes 876,347 695,602 441,203\nIncome Tax Expense for Continuing Operations (160,903) (274,781) (55,320)\nNet Earnings of the Group from Continuing Operations 715,444 420,821 385,883\nNet (Loss) Earnings of the Group from Discontinued Operations (32) 10,008 137,984\nNet Earnings of the Group 715,412 430,829 523,867\nNet Earnings Attributable to Noncontrolling Interests from Continuing Operations (36,788) (39,213) (32,022)\nNet (Earnings) Loss Attributable to Redeemable Noncontrolling Interests (34,585) 85,414 —\nNet Earnings Attributable to Jacobs from Continuing Operations 644,071 467,022 353,861\nNet Earnings Attributable to Jacobs $ 644,039 $ 477,030 $ 491,845\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.01 $ 3.15 $ 2.69\nBasic Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.05\nBasic Earnings Per Share $ 5.01 $ 3.22 $ 3.74\nDiluted Net Earnings from Continuing Operations Per Share $ 4.98 $ 3.12 $ 2.67\nDiluted Net Earnings from Discontinued Operations Per Share $ — $ 0.08 $ 1.04\nDiluted Earnings Per Share $ 4.98 $ 3.20 $ 3.71",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000324_segments",
      "report_id": "ID_000324",
      "company_name": "Jacobs Solutions",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Critical Mission Solutions (CMS) and People & Places Solutions (P&PS),\nand a majority investment in PA Consulting (PA)",
      "golden_context": "Page 15:\n\nLines of Business\nThe services we provided to our markets in fiscal year 2022 fall into the following lines of business (LOB): Critical Mission Solutions (CMS) and People & Places Solutions (P&PS),\nand a majority investment in PA Consulting (PA), which are also the Company’s reportable segments. As part of the new Company strategy, starting in fiscal year 2023 Jacobs is\nforming a new enabling platform, Divergent Solutions (DVS), which further strengthens our ability to drive value for our clients. DVS supports both LOBs as the core foundation for\ndeveloping and delivering innovative, next-generation cloud, cyber, data and digital technologies.\nFor additional information regarding our segments, including information about our financial results by segment and financial results by geography, see Note 20 - Information of Notes to Consolidated Financial Statements beginning on page F-1 of this Annual Report on Form 10-K.\nSegment\nCritical Mission Solutions (CMS)\nIn fiscal year 2022, our Critical Mission Solutions line of business provided a full spectrum of cyber, data analytics, systems and software application integration services and\nconsulting; enterprise level IT operations and maintenance and mission IT services; engineering and design; software development, testing and mission integration; enterprise\noperations and maintenance; program management; research, development, test and evaluation services; specialized training and mission operations; environmental remediation;\nand other highly technical consulting solutions to government agencies as well as commercial customers in the domestic U.S. and international markets. Our representative clients\ninclude the U.S. Department of Defense (DoD), the Combatant Commands, the U.S. Intelligence Community, NASA, the U.S. Department of Energy (DoE), the U.K. Ministry of\nDefence, the U.K. Nuclear Decommissioning Authority (NDA), and the Australian Department of Defence, as well as private sector customers mainly in the aerospace, automotive,\nenergy and telecom sectors.\nServing mission-critical sectors\nIn fiscal year 2022, CMS served broad sectors, including U.S. Government Services, Cyber, Nuclear Energy, Commercial and International sectors.\nThe U.S. Government is the world’s largest buyer of technical services, and in fiscal 2022, approximately 73% of CMS’s revenue was earned from serving the DoD, Intelligence\nCommunity, DoE and other U.S. Federal Civilian governmental entities.\nTrends affecting our government clients include an evolving external threat environment including information and cyber warfare; digital transformation and IT modernization; national\nsecurity and defense infrastructure modernization; space exploration and domain dominance; intelligent asset management to improve capability and extend the life of aging facilities;\nresearch and development of nuclear fission and fusion energy technologies and solutions to accelerate the global green energy transition; and decommissioning and remediation of\nlegacy nuclear sites, all of which are driving demand for our highly technical solutions.\nWe are also witnessing an increase in the capabilities of unmanned aircraft and hypersonic weapons, which is impacting both offensive and defensive spending priorities among our\nclients and is a driver for next generation solutions such as C5ISR (command, control, communications, computer, combat systems, intelligence, surveillance and reconnaissance)\nand advanced aeronautical and aerothermal testing, respectively. We are also seeing an increase in space exploration initiatives both from the U.S. government, such as NASA’s\nArtemis program to return to the moon in 2024, as well as the commercial sector.\nWithin nuclear energy and as part of our Climate Response, our customers have decades-long initiatives to manage and upgrade existing energy infrastructure, construct new\nnuclear power plants as well as small and advanced modular reactors, and decommission and remediate end-of-life assets. Our customers also manage critical nuclear facilities\nsupporting national security objectives.\nOur international customers, which accounted for 18% of fiscal 2022 revenue, have also increased demand for our IT and advanced infrastructure solutions and nuclear energy\ncapabilities, and the U.K. Ministry of Defence continues to focus on accelerating its strategic innovative and technology focused initiatives.\nLeveraging our base market of offering valued technical services to U.S. government customers, CMS also serves commercial markets. In fiscal 2022, approximately 9% of CMS’s\nrevenue was from various U.S. commercial sectors, including the telecommunications sector, which anticipates a large cellular infrastructure build-out from 4G to 5G technology. And\nlike our government facility-based clients, our commercial manufacturing clients",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_cash_flow",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 974'763k, investing: -145'663, financing: -1'086'410k",
      "golden_context": "Page 87:\n\nACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Fiscal Years Ended September 29, 2023, September 30, 2022 and October 1, 2021\n(In thousands)\nSeptember 29, 2023 September 30, 2022 October 1, 2021\nCash Flows from Operating Activities:\nNet earnings attributable to the Group $ 719,656 $ 715,412 $ 430,829\nAdjustments to reconcile net earnings to net cash flows provided by (used for) operations:\nDepreciation and amortization:\nProperty, equipment and improvements 103,346 102,454 101,024\nIntangible assets 203,906 198,602 149,776\nGain on sale of ECR business — — (15,608)\nGain on investment in equity securities — (13,862) (71,325)\nStock based compensation 74,337 53,383 56,221\nEquity in earnings of operating ventures, net of return on capital distributions (324) 18,291 10,941\nLoss (gain) on disposals of assets, net 7,690 (4,680) 1,003\nImpairment of equity method investment and other long-term assets 48,163 78,292 40,640\nLoss on pension and retiree medical plan changes 208 123 2,783\nDeferred income taxes (76,815) 111,846 113,623\nChanges in assets and liabilities, excluding the effects of businesses acquired:\nReceivables and contract assets, net of contract liabilities (8,395) (267,947) 242,154\nPrepaid expenses and other current assets (33,996) 6 6,800\nMiscellaneous other assets 92,050 113,850 116,097\nAccounts payable 166,194 87,402 (165,502)\nIncome taxes payable 9,408 (70,258) 20,961\nAccrued liabilities (279,136) (552,036) (252,305)\nOther deferred liabilities (49,957) (73,697) (63,915)\nOther, net (1,572) (22,472) 2,079\nNet cash provided by operating activities 974,763 474,709 726,276\nCash Flows from Investing Activities:\nAdditions to property and equipment (137,486) (127,615) (92,814)\nDisposals of property and equipment and other assets 1,544 9,392 474\nCapital contributions to equity investees, net of return of capital distributions 7,964 3,025 (5,016)\nAcquisitions of businesses, net of cash acquired (17,685) (437,083) (1,741,062)\nDisposals of investment in equity securities — 13,862 421,315\nProceeds from sales of businesses — — 36,360\nNet cash used for investing activities (145,663) (538,419) (1,380,743)\nCash Flows from Financing Activities:\nProceeds from long-term borrowings 3,860,468 3,145,500 4,445,080\nRepayments of long-term borrowings (4,486,679) (2,420,166) (3,216,965)\nProceeds from short-term borrowings 13,011 — —\nRepayments of short-term borrowings (3,353) (6,359) (7,675)\nDebt issuance costs (17,177) — (2,747)\nProceeds from issuances of common stock 47,782 51,034 38,077\nCommon stock repurchases (265,714) (281,926) (274,948)\nTaxes paid on vested restricted stock (24,249) (28,587) (25,867)\nCash dividends to shareholders (128,420) (115,948) (107,188)\nNet dividends associated with noncontrolling interests (23,156) (26,982) (48,784)\nRepurchase of redeemable noncontrolling interests (92,939) (46,074) —\nProceeds from issuances of redeemable noncontrolling interests 34,016 49,742 —\nNet cash (used for) provided by financing activities (1,086,410) 320,234 798,983\nEffect of Exchange Rate Changes 32,548 (128,892) 19,635\nNet (Decrease) Increase in Cash and Cash Equivalents and Restricted Cash (224,762) 127,632 164,151\nCash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period 1,154,207 1,026,575 862,424\nCash and Cash Equivalents, including Restricted Cash, at the End of the Period $ 929,445 $ 1,154,207 $ 1,026,575\nSee the accompanying Notes to Consolidated Financial Statements.\nF-7",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_company_type",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_________________________________________________________________\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended September 29, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____ to ____\nCommission File No. 1-7463\n_________________________________________________________________\nJacobs Solutions Inc.\nDelaware 88-1121891\n(State or other jurisdiction of incorporation or\norganization)\n(IRS Employer\nidentification number)\n(Address of principal executive offices) (Zip Code)\n1999 Bryan Street Suite 3500 Dallas Texas 75201\n(214) 583 – 8500\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\n_________________________________________________________________\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock $1 par value J New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\n_________________________________________________________________\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act: ☒ Yes ☐ No\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. ☐ Yes ☒ No\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. ☒ Yes ☐ No\nIndicate by check mark whether the Registrant: has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). ☒ Yes ☐ No\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the\ndefinitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_key_financials",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 16352414k, gross profit: 3473315k, operating profit 1075237k, diluted EPS: 5.3",
      "golden_context": "Page 56:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 29, 2023, September 30, 2022 and October 1, 2021\n(In thousands, except per share information)\nSeptember 29,\n2023\nSeptember 30,\n2022\nOctober 1,\n2021\nRevenues $ 16,352,414 $ 14,922,825 $ 14,092,632\nDirect cost of contracts (12,879,099) (11,595,785) (11,048,860)\nGross profit 3,473,315 3,327,040 3,043,772\nSelling, general and administrative expenses (2,398,078) (2,409,190) (2,355,683)\nOperating Profit 1,075,237 917,850 688,089\nOther Income (Expense):\nInterest income 26,013 4,489 3,503\nInterest expense (168,108) (100,246) (72,714)\nMiscellaneous (expense) income, net (16,463) 54,254 76,724\nTotal other (expense) income, net (158,558) (41,503) 7,513\nEarnings from Continuing Operations Before Taxes 916,679 876,347 695,602\nIncome Tax Expense for Continuing Operations (196,181) (160,903) (274,781)\nNet Earnings of the Group from Continuing Operations 720,498 715,444 420,821\nNet (Loss) Earnings of the Group from Discontinued\nOperations (842) (32) 10,008\nNet Earnings of the Group 719,656 715,412 430,829\nNet Earnings Attributable to Noncontrolling Interests\nfrom Continuing Operations (32,265) (36,788) (39,213)\nNet (Earnings) Loss Attributable to Redeemable\nNoncontrolling Interests (21,614) (34,585) 85,414\nNet Earnings Attributable to Jacobs from Continuing\nOperations 666,619 644,071 467,022\nNet Earnings Attributable to Jacobs $ 665,777 $ 644,039 $ 477,030\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.33 $ 5.01 $ 3.15\nBasic Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nBasic Earnings Per Share $ 5.32 $ 5.01 $ 3.22\nDiluted Net Earnings from Continuing Operations Per\nShare $ 5.31 $ 4.98 $ 3.12\nDiluted Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nDiluted Earnings Per Share $ 5.30 $ 4.98 $ 3.20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_revenue",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenues 16352414k",
      "golden_context": "Page 56:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 29, 2023, September 30, 2022 and October 1, 2021\n(In thousands, except per share information)\nSeptember 29,\n2023\nSeptember 30,\n2022\nOctober 1,\n2021\nRevenues $ 16,352,414 $ 14,922,825 $ 14,092,632\nDirect cost of contracts (12,879,099) (11,595,785) (11,048,860)\nGross profit 3,473,315 3,327,040 3,043,772\nSelling, general and administrative expenses (2,398,078) (2,409,190) (2,355,683)\nOperating Profit 1,075,237 917,850 688,089\nOther Income (Expense):\nInterest income 26,013 4,489 3,503\nInterest expense (168,108) (100,246) (72,714)\nMiscellaneous (expense) income, net (16,463) 54,254 76,724\nTotal other (expense) income, net (158,558) (41,503) 7,513\nEarnings from Continuing Operations Before Taxes 916,679 876,347 695,602\nIncome Tax Expense for Continuing Operations (196,181) (160,903) (274,781)\nNet Earnings of the Group from Continuing Operations 720,498 715,444 420,821\nNet (Loss) Earnings of the Group from Discontinued\nOperations (842) (32) 10,008\nNet Earnings of the Group 719,656 715,412 430,829\nNet Earnings Attributable to Noncontrolling Interests\nfrom Continuing Operations (32,265) (36,788) (39,213)\nNet (Earnings) Loss Attributable to Redeemable\nNoncontrolling Interests (21,614) (34,585) 85,414\nNet Earnings Attributable to Jacobs from Continuing\nOperations 666,619 644,071 467,022\nNet Earnings Attributable to Jacobs $ 665,777 $ 644,039 $ 477,030\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.33 $ 5.01 $ 3.15\nBasic Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nBasic Earnings Per Share $ 5.32 $ 5.01 $ 3.22\nDiluted Net Earnings from Continuing Operations Per\nShare $ 5.31 $ 4.98 $ 3.12\nDiluted Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nDiluted Earnings Per Share $ 5.30 $ 4.98 $ 3.20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_revenue_growth",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 16352414k, prior year 14922825k",
      "golden_context": "Page 56:\n\nJACOBS SOLUTIONS INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF EARNINGS\nFor the Fiscal Years Ended September 29, 2023, September 30, 2022 and October 1, 2021\n(In thousands, except per share information)\nSeptember 29,\n2023\nSeptember 30,\n2022\nOctober 1,\n2021\nRevenues $ 16,352,414 $ 14,922,825 $ 14,092,632\nDirect cost of contracts (12,879,099) (11,595,785) (11,048,860)\nGross profit 3,473,315 3,327,040 3,043,772\nSelling, general and administrative expenses (2,398,078) (2,409,190) (2,355,683)\nOperating Profit 1,075,237 917,850 688,089\nOther Income (Expense):\nInterest income 26,013 4,489 3,503\nInterest expense (168,108) (100,246) (72,714)\nMiscellaneous (expense) income, net (16,463) 54,254 76,724\nTotal other (expense) income, net (158,558) (41,503) 7,513\nEarnings from Continuing Operations Before Taxes 916,679 876,347 695,602\nIncome Tax Expense for Continuing Operations (196,181) (160,903) (274,781)\nNet Earnings of the Group from Continuing Operations 720,498 715,444 420,821\nNet (Loss) Earnings of the Group from Discontinued\nOperations (842) (32) 10,008\nNet Earnings of the Group 719,656 715,412 430,829\nNet Earnings Attributable to Noncontrolling Interests\nfrom Continuing Operations (32,265) (36,788) (39,213)\nNet (Earnings) Loss Attributable to Redeemable\nNoncontrolling Interests (21,614) (34,585) 85,414\nNet Earnings Attributable to Jacobs from Continuing\nOperations 666,619 644,071 467,022\nNet Earnings Attributable to Jacobs $ 665,777 $ 644,039 $ 477,030\nNet Earnings Per Share:\nBasic Net Earnings from Continuing Operations Per Share $ 5.33 $ 5.01 $ 3.15\nBasic Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nBasic Earnings Per Share $ 5.32 $ 5.01 $ 3.22\nDiluted Net Earnings from Continuing Operations Per\nShare $ 5.31 $ 4.98 $ 3.12\nDiluted Net (Loss) Earnings from Discontinued Operations\nPer Share $ (0.01) $ — $ 0.08\nDiluted Earnings Per Share $ 5.30 $ 4.98 $ 3.20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000325_segments",
      "report_id": "ID_000325",
      "company_name": "Jacobs Solutions",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Critical Mission Solutions (CMS) and People & Places Solutions (P&PS)",
      "golden_context": "Page 13:\n\n Repurchases\nDuring fiscal 2023, the Company repurchased $265.7 million in shares.\nShareholder Dividends\nDuring fiscal 2023, the Company paid dividends of $0.23 per share in the first quarter and $0.26 per share in the second,\nthird and fourth quarters.\nOperating Segments\nThe services we provided to our markets in fiscal 2023 fall into the following two lines of business (LOB): Critical Mission\nSolutions (CMS) and People & Places Solutions (P&PS). Our LOBs, our business unit Divergent Solutions (DVS), which\noperates as an integrated offering to both LOBs, and a majority investment in PA Consulting, constitute the Company’s\noperating segments.\nFor additional information regarding our segments, including information about our financial results by segment and\nfinancial results by geography, see Note 19–Segment Information of Notes to Consolidated Financial Statements\nbeginning on page F-1 of this Annual Report on Form 10-K.\nPage 11\nCritical Mission Solutions (CMS)\nIn fiscal 2023, Jacobs’ Critical Mission Solutions line of business provided a full spectrum of solutions for clients to address\nevolving challenges like digital transformation and modernization, national security and defense, space exploration, digital\nasset management, the clean energy transition, and nuclear decom",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_cash_flow",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 930m, financing: -1298m, investing: -12m",
      "golden_context": "Page 54:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Years Ended December 31, 2021, 2020 and 2019\n(In Millions)\n2021 2020 2019\nCASH FLOWS FROM (FOR) OPERATING ACTIVITIES:\nNet income $ 478 $ 1,276 $ 980\nDepreciation and amortization 151 133 159\nFair value adjustment to contingent earnout obligation 16 — —\nDisplay amortization — 2 12\nDeferred income taxes (68) (3) (41)\nEmployee withholding taxes paid on stock-based compensation 15 25 23\nGain on disposition of investments, net (25) (3) (1)\nLoss (gain) on disposition of businesses, net 18 (602) (298)\nPension and other post-retirement benefits 312 (32) (45)\nImpairment of goodwill and other intangible assets 45 — 16\nStock-based compensation 61 45 35\nDividends paid-in-kind (6) (10) —\nIncrease in receivables (64) (141) (37)\n(Increase) decrease in inventories (350) (89) 58\nIncrease (decrease) in accounts payable and accrued liabilities, net 190 332 (27)\nDebt extinguishment costs 160 5 2\nOther, net (3) 15 (3)\nNet cash from operating activities 930 953 833\nCASH FLOWS FROM (FOR) FINANCING ACTIVITIES:\nRetirement of notes (1,326) (400) (201)\nPurchase of Company common stock (1,026) (727) (896)\nCash dividends paid (211) (145) (144)\nDividends paid to noncontrolling interest (43) (23) (42)\nIssuance of notes, net of issuance costs 1,481 415 —\nDebt extinguishment costs (160) (5) (2)\nProceeds from the exercise of stock options 5 26 27\nEmployee withholding taxes paid on stock-based compensation (15) (25) (23)\nPayment of debt (3) (2) (8)\nCredit Agreement and other financing costs — — (2)\nNet cash for financing activities (1,298) (886) (1,291)\nCASH FLOWS FROM (FOR) INVESTING ACTIVITIES:\nCapital expenditures (128) (114) (162)\nAcquisition of businesses, net of cash acquired (57) (227) —\nProceeds from disposition of:\nBusinesses, net of cash disposed 5 870 722\nProperty and equipment — 1 34\nFinancial investments 171 3 1\nOther, net (3) (2) (13)\nNet cash (for) from investing activities (12) 531 582\nEffect of exchange rate changes on cash and cash investments (20) 31 14\nCASH AND CASH INVESTMENTS:\n(Decrease) increase for the year (400) 629 138\nAt January 1 1,326 697 559\nAt December 31 $ 926 $ 1,326 $ 697",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_company_type",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 11:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from ___________ to ___________\nCommission file number: 1-5794\nMASCO CORPORATION\n(Exact name of Registrant as Specified in its Charter)\nDelaware 38-1794485\n(State of Incorporation) (I.R.S. Employer Identification No.)\n17450 College Parkway, Livonia, Michigan 48152\n(Address of Principal Executive Offices) (Zip Code)\nTitle of Each Class Name of Each Exchange\nOn Which Registered\nNew York Stock Exchange\nRegistrant's telephone number, including area code: (313) 274-7400\nSecurities Registered Pursuant to Section 12(b) of the Act:\nCommon Stock, $1.00 par value Trading Symbol\nMAS Securities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes þ No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No þ\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes þ No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files). Yes þ No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting\ncompany,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered\npublic accounting firm that prepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ\nThe aggregate market value of the Registrant's Common Stock held by non-affiliates of the Registrant on June 30, 2021 (based on the\nclosing sale price of $58.91 of the Registrant's Common Stock, as reported by the New York Stock Exchange on such date) was\napproximately $14,501,171,300.\nNumber of shares outstanding of the Registrant's Common Stock at January 31, 2022:\n239,926,257 shares of Common Stock, par value $1.00 per share\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Registrant's definitive Proxy Statement to be filed for its 2022 Annual Meeting of Stockholders are incorporated by\nreference into Part III of this Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_key_financials",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 8375m, gross profit 2863m, diluted net income per common share attributable to Masco Corporation 1.62",
      "golden_context": "Page 52:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2021, 2020 and 2019\n(In Millions, Except Per Common Share Data)\n2021 2020 2019\nNet sales $ 8,375 $ 7,188 $ 6,707\nCost of sales 5,512 4,601 4,336\nGross profit 2,863 2,587 2,371\nSelling, general and administrative expenses 1,413 1,292 1,274\nImpairment charges for goodwill and other intangible assets 45 — 9\nOperating profit 1,405 1,295 1,088\nOther income (expense), net:\nInterest expense (278) (144) (159)\nOther, net (439) (20) (15)\n(717) (164) (174)\nIncome from continuing operations before income taxes 688 1,131 914\nIncome tax expense 210 269 230\nIncome from continuing operations 478 862 684\nIncome from discontinued operations, net — 414 296\nNet income 478 1,276 980\nLess: Net income attributable to noncontrolling interest 68 52 45\nNet income attributable to Masco Corporation $ 410 $ 1,224 $ 935\nIncome per common share attributable to Masco Corporation:\nBasic:\nIncome from continuing operations $ 1.63 $ 3.05 $ 2.21\nIncome from discontinued operations, net — 1.55 1.03\nNet income $ 1.63 $ 4.60 $ 3.24\nDiluted:\nIncome from continuing operations $ 1.62 $ 3.04 $ 2.20\nIncome from discontinued operations, net — 1.55 1.02\nNet income $ 1.62 $ 4.59 $ 3.22\nAmounts attributable to Masco Corporation:\nIncome from continuing operations $ 410 $ 810 $ 639\nIncome from discontinued operations, net — 414 296\nNet income $ 410 $ 1,224 $ 935",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_revenue",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 8375m",
      "golden_context": "Page 52:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2021, 2020 and 2019\n(In Millions, Except Per Common Share Data)\n2021 2020 2019\nNet sales $ 8,375 $ 7,188 $ 6,707\nCost of sales 5,512 4,601 4,336\nGross profit 2,863 2,587 2,371\nSelling, general and administrative expenses 1,413 1,292 1,274\nImpairment charges for goodwill and other intangible assets 45 — 9\nOperating profit 1,405 1,295 1,088\nOther income (expense), net:\nInterest expense (278) (144) (159)\nOther, net (439) (20) (15)\n(717) (164) (174)\nIncome from continuing operations before income taxes 688 1,131 914\nIncome tax expense 210 269 230\nIncome from continuing operations 478 862 684\nIncome from discontinued operations, net — 414 296\nNet income 478 1,276 980\nLess: Net income attributable to noncontrolling interest 68 52 45\nNet income attributable to Masco Corporation $ 410 $ 1,224 $ 935\nIncome per common share attributable to Masco Corporation:\nBasic:\nIncome from continuing operations $ 1.63 $ 3.05 $ 2.21\nIncome from discontinued operations, net — 1.55 1.03\nNet income $ 1.63 $ 4.60 $ 3.24\nDiluted:\nIncome from continuing operations $ 1.62 $ 3.04 $ 2.20\nIncome from discontinued operations, net — 1.55 1.02\nNet income $ 1.62 $ 4.59 $ 3.22\nAmounts attributable to Masco Corporation:\nIncome from continuing operations $ 410 $ 810 $ 639\nIncome from discontinued operations, net — 414 296\nNet income $ 410 $ 1,224 $ 935",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_revenue_growth",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 8375m, prior year 7188m",
      "golden_context": "Page 52:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2021, 2020 and 2019\n(In Millions, Except Per Common Share Data)\n2021 2020 2019\nNet sales $ 8,375 $ 7,188 $ 6,707\nCost of sales 5,512 4,601 4,336\nGross profit 2,863 2,587 2,371\nSelling, general and administrative expenses 1,413 1,292 1,274\nImpairment charges for goodwill and other intangible assets 45 — 9\nOperating profit 1,405 1,295 1,088\nOther income (expense), net:\nInterest expense (278) (144) (159)\nOther, net (439) (20) (15)\n(717) (164) (174)\nIncome from continuing operations before income taxes 688 1,131 914\nIncome tax expense 210 269 230\nIncome from continuing operations 478 862 684\nIncome from discontinued operations, net — 414 296\nNet income 478 1,276 980\nLess: Net income attributable to noncontrolling interest 68 52 45\nNet income attributable to Masco Corporation $ 410 $ 1,224 $ 935\nIncome per common share attributable to Masco Corporation:\nBasic:\nIncome from continuing operations $ 1.63 $ 3.05 $ 2.21\nIncome from discontinued operations, net — 1.55 1.03\nNet income $ 1.63 $ 4.60 $ 3.24\nDiluted:\nIncome from continuing operations $ 1.62 $ 3.04 $ 2.20\nIncome from discontinued operations, net — 1.55 1.02\nNet income $ 1.62 $ 4.59 $ 3.22\nAmounts attributable to Masco Corporation:\nIncome from continuing operations $ 410 $ 810 $ 639\nIncome from discontinued operations, net — 414 296\nNet income $ 410 $ 1,224 $ 935",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000326_segments",
      "report_id": "ID_000326",
      "company_name": "Masco",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Plumbing Products segment and our Decorative\nArchitectural Products",
      "golden_context": "Page 14:\n\nOur Business Segments\nWe report our financial results in two segments, our Plumbing Products segment and our Decorative\nArchitectural Products segment, which are aggregated by product similarity. Our Decorative Architectural\nProducts segment is impacted by seasonality and normally experiences stronger sales during the second and\nthird calendar quarters, corresponding with the peak season for repair and remodel activity.\nPlumbing Products\nThe businesses in our Plumbing Products segment sell a wide variety of products that are manufactured or\nsourced by us.\n• Our plumbing products include faucets, showerheads, handheld showers, valves, bath hardware\nand accessories, bathing units, shower bases and enclosures, shower drains, steam shower\nsystems, sinks, kitchen accessories and toilets. We primarily sell these products to home center\nretailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them\nto plumbers, building contractors, remodelers, smaller retailers and consumers. The majority of our\nfaucet, bathing and showering products are sold primarily in North America, Europe and China\nunder the brand names DELTA®, BRIZO®, PEERLESS®, HANSGROHE®, AXOR®, KRAUS®, EASY\nDRAIN®, STEAMIST®, ELITESTEAM®, GINGER®, NEWPORT BRASS®, BRASSTECH® and\nWALTEC®. Our BRISTAN™ and HERITAGE™ products are sold primarily in the United Kingdom.\n• We manufacture acrylic tubs, bath and shower enclosure units, and shower bases and trays. Our\nDELTA, PEERLESS and MIROLIN® products are sold primarily to home center retailers in North\nAmerica. Our MIROLIN products are also sold to wholesalers and distributors in Canada.\n• Our spas, exercise pools and fitness systems are manufactured and sold under our HOT SPRING®\n,\nCALDERA®, FREEFLOW SPAS®, FANTASY SPAS® and ENDLESS POOLS® brands, as well as\nunder other trademarks. Our spa and exercise pools are sold worldwide to independent specialty\nretailers and distributors and to online mass merchant retailers. Certain exercise pools are also\navailable on a consumer-direct basis in North America and Europe, while our fitness systems are\nsold through independent specialty retailers as well as on a consumer-direct basis in some areas.\n• Included in our Plumbing Products segment are brass, copper and composite plumbing system\ncomponents and other non-decorative plumbing products that are sold to plumbing, heating and\nhardware wholesalers, home center and online retailers, hardware stores, building supply outlets\nand other mass merchandisers. These products are marketed primarily in North America under our\nBRASSCRAFT®, PLUMB SHOP®, COBRA®, COBRA PRO™ and MASTER PLUMBER® brands\nand are also sold under private label.\n• Within our Plumbing Products segment we develop connected water products that enhance the\nexperience with water in homes and businesses. These systems include touchless activation, voice\nactivation, controlled volume dispensing and provide for monitoring and controlling the temperature\nand flow of water and are compatible with a range of faucets, showerheads and other showering\ncomponents.\n• We also supply high-quality, custom thermoplastic solutions, extruded plastic profiles and\nspecialized fabrications, as well as PEX tubing, to manufacturers, distributors and wholesalers for\nuse in diverse applications that include faucets and plumbing supplies,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_cash_flow",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 840m, \nfinancing: -1'066m, \ninvesting: -230m",
      "golden_context": "Page 51:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFor the Years Ended December 31, 2022, 2021 and 2020\n(In Millions)\nCASH FLOWS FROM (FOR) OPERATING ACTIVITIES:\nNet income ........................................................................................................ $ 905 $ 478 $ 1,276\nDepreciation and amortization ....................................................................... 145 151 133\nFair value adjustment to contingent earnout obligation ............................. (24) 16 —\nDisplay amortization ........................................................................................ — — 2\nDeferred income taxes .................................................................................... (15) (68) (3)\nEmployee withholding taxes paid on stock-based compensation ........... 17 15 25\nLoss (gain) on investments, net .................................................................... 5 (25) (3)\nLoss (gain) on disposition of businesses, net ............................................. 1 18 (602)\nPension and other post-retirement benefits ................................................ (3) 312 (32)\nImpairment of goodwill and other intangible assets ................................... 26 45 —\nStock-based compensation ............................................................................ 49 61 45\nDividends paid-in-kind ..................................................................................... — (6) (10)\nIncrease in receivables ................................................................................... (15) (64) (141)\nIncrease in inventories .................................................................................... (43) (350) (89)\n(Decrease) increase in accounts payable and accrued liabilities, net .... (225) 190 332\nDebt extinguishment costs ............................................................................. — 160 5\nOther, net .......................................................................................................... 17 (3) 15\nNet cash from operating activities ......................................................... 840 930 953\nCASH FLOWS FROM (FOR) FINANCING ACTIVITIES:\nRetirement of notes ......................................................................................... — (1,326) (400)\nPurchase of Company common stock ......................................................... (914) (1,026) (727)\nCash dividends paid ........................................................................................ (258) (211) (145)\nDividends paid to noncontrolling interest ..................................................... (68) (43) (23)\nIssuance of notes, net of issuance costs ..................................................... — 1,481 415\nProceeds from term loan ................................................................................ 500 — —\nPayment of term loan ...................................................................................... (300) — —\nDebt extinguishment costs ............................................................................. — (160) (5)\nProceeds from the exercise of stock options .............................................. 1 5 26\nEmployee withholding taxes paid on stock-based compensation ........... (17) (15) (25)\nPayment of debt ............................................................................................... (10) (3) (2)\nNet cash for financing activities ............................................................. (1,066) (1,298) (886)\nCASH FLOWS FROM (FOR) INVESTING ACTIVITIES:\nCapital expenditures ....................................................................................... (224) (128) (114)\nAcquisition of businesses, net of cash acquired ......................................... — (57) (227)\nProceeds from disposition of:\nBusinesses, net of cash disposed ............................................................ — 5 870\nProperty and equipment ............................................................................ 1 — 1\nFinancial investments ................................................................................ 1 171 3\nOther, net .......................................................................................................... (8) (3) (2)\nNet cash (for) from investing activities ................................................. (230) (12) 531\nEffect of exchange rate changes on cash and cash investments ............... CASH AND CASH INVESTMENTS:\n(Decrease) increase for the year ................................................................... (474) (400) 629\nAt January 1 ..................................................................................................... 926 1,326 697\nAt December 31 ............................................................................................... $ 452 $ 926 $ 1,326\n(18) (20) 31\nSee notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_company_type",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 11:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the fiscal year ended December 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the transition period from ___________ to ___________\nCommission file number: 1-5794\nMASCO CORPORATION\n(Exact name of Registrant as Specified in its Charter)\nDelaware 38-1794485\n(State of Incorporation) (I.R.S. Employer Identification No.)\n17450 College Parkway, Livonia, Michigan 48152\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant's telephone number, including area code: (313) 274-7400\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol\nName of Each Exchange\nOn Which Registered\nCommon Stock, $1.00 par value MAS Securities Registered Pursuant to Section 12(g) of the Act: None\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes þ No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No þ\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes þ No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit\nsuch files). Yes þ No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nan emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessme",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_key_financials",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 8680m, gross profit 2713, operating profit 1297m, income per common share attributable to Masco diluted (net): 3.63",
      "golden_context": "Page 49:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2022, 2021 and 2020\n(In Millions, Except Per Common Share Data)\n2022 2021 2020\nNet sales ................................................................................................. $ 8,680 $ 8,375 $ 7,188\nCost of sales ........................................................................................... 5,967 5,512 4,601\nGross profit ............................................................................... 2,713 2,863 2,587\nSelling, general and administrative expenses ................................... 1,390 1,413 1,292\nImpairment charges for goodwill and other intangible assets ......... 26 45 —\nOperating profit ........................................................................ 1,297 1,405 1,295\nOther income (expense), net:\nInterest expense .................................................................................. (108) (278) (144)\nOther, net .............................................................................................. 4 (439) (20)\n(104) (717) (164)\nIncome from continuing operations before income taxes . 1,193 688 1,131\nIncome tax expense .............................................................................. 288 210 269\nIncome from continuing operations ...................................... 905 478 862\nIncome from discontinued operations, net ......................................... — — 414\nNet income ............................................................................... 905 478 1,276\nLess: Net income attributable to noncontrolling interest .................. 61 68 52\nNet income attributable to Masco Corporation ................... $ 844 $ 410 $ 1,224\nIncome per common share attributable to Masco\nCorporation:\nBasic:\nDiluted:\nIncome from continuing operations .............................................. $ 3.65 $ 1.63 $ 3.05\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.65 $ 1.63 $ 4.60\nIncome from continuing operations .............................................. $ 3.63 $ 1.62 $ 3.04\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.63 $ 1.62 $ 4.59\nAmounts attributable to Masco Corporation:\nIncome from continuing operations .............................................. $ 844 $ 410 $ 810\nIncome from discontinued operations, net .................................. — — 414\nNet income .................................................................................. $ 844 $ 410 $ 1,224",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_revenue",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 8680m",
      "golden_context": "Page 49:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2022, 2021 and 2020\n(In Millions, Except Per Common Share Data)\n2022 2021 2020\nNet sales ................................................................................................. $ 8,680 $ 8,375 $ 7,188\nCost of sales ........................................................................................... 5,967 5,512 4,601\nGross profit ............................................................................... 2,713 2,863 2,587\nSelling, general and administrative expenses ................................... 1,390 1,413 1,292\nImpairment charges for goodwill and other intangible assets ......... 26 45 —\nOperating profit ........................................................................ 1,297 1,405 1,295\nOther income (expense), net:\nInterest expense .................................................................................. (108) (278) (144)\nOther, net .............................................................................................. 4 (439) (20)\n(104) (717) (164)\nIncome from continuing operations before income taxes . 1,193 688 1,131\nIncome tax expense .............................................................................. 288 210 269\nIncome from continuing operations ...................................... 905 478 862\nIncome from discontinued operations, net ......................................... — — 414\nNet income ............................................................................... 905 478 1,276\nLess: Net income attributable to noncontrolling interest .................. 61 68 52\nNet income attributable to Masco Corporation ................... $ 844 $ 410 $ 1,224\nIncome per common share attributable to Masco\nCorporation:\nBasic:\nDiluted:\nIncome from continuing operations .............................................. $ 3.65 $ 1.63 $ 3.05\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.65 $ 1.63 $ 4.60\nIncome from continuing operations .............................................. $ 3.63 $ 1.62 $ 3.04\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.63 $ 1.62 $ 4.59\nAmounts attributable to Masco Corporation:\nIncome from continuing operations .............................................. $ 844 $ 410 $ 810\nIncome from discontinued operations, net .................................. — — 414\nNet income .................................................................................. $ 844 $ 410 $ 1,224",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_revenue_growth",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 8680m, prior year 8375m",
      "golden_context": "Page 49:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2022, 2021 and 2020\n(In Millions, Except Per Common Share Data)\n2022 2021 2020\nNet sales ................................................................................................. $ 8,680 $ 8,375 $ 7,188\nCost of sales ........................................................................................... 5,967 5,512 4,601\nGross profit ............................................................................... 2,713 2,863 2,587\nSelling, general and administrative expenses ................................... 1,390 1,413 1,292\nImpairment charges for goodwill and other intangible assets ......... 26 45 —\nOperating profit ........................................................................ 1,297 1,405 1,295\nOther income (expense), net:\nInterest expense .................................................................................. (108) (278) (144)\nOther, net .............................................................................................. 4 (439) (20)\n(104) (717) (164)\nIncome from continuing operations before income taxes . 1,193 688 1,131\nIncome tax expense .............................................................................. 288 210 269\nIncome from continuing operations ...................................... 905 478 862\nIncome from discontinued operations, net ......................................... — — 414\nNet income ............................................................................... 905 478 1,276\nLess: Net income attributable to noncontrolling interest .................. 61 68 52\nNet income attributable to Masco Corporation ................... $ 844 $ 410 $ 1,224\nIncome per common share attributable to Masco\nCorporation:\nBasic:\nDiluted:\nIncome from continuing operations .............................................. $ 3.65 $ 1.63 $ 3.05\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.65 $ 1.63 $ 4.60\nIncome from continuing operations .............................................. $ 3.63 $ 1.62 $ 3.04\nIncome from discontinued operations, net .................................. — — 1.55\nNet income ....................................................................................... $ 3.63 $ 1.62 $ 4.59\nAmounts attributable to Masco Corporation:\nIncome from continuing operations .............................................. $ 844 $ 410 $ 810\nIncome from discontinued operations, net .................................. — — 414\nNet income .................................................................................. $ 844 $ 410 $ 1,224",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000327_segments",
      "report_id": "ID_000327",
      "company_name": "Masco",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Plumbing Products segment and our Decorative\nArchitectural Products ",
      "golden_context": "Page 14:\n\ntem 1. Business.\nMasco Corporation and its subsidiaries (the “Company”) is a global leader in the design, manufacture and\ndistribution of branded home improvement and building products. Our portfolio of industry-leading brands\nincludes BEHR® paint; DELTA® and HANSGROHE® faucets, bath and shower fixtures; KICHLER® decorative\nand outdoor lighting; LIBERTY® branded decorative and functional hardware; and HOT SPRING® spas. We\nleverage our powerful brands across product categories, sales channels and geographies to create value for\nour customers and shareholders.\nWe believe that our solid results of operations and financial position for 2022 resulted from our continued\nfocus on our three strategic pillars:\n• drive the full potential of our core businesses;\n• leverage opportunities across our enterprise; and\n• actively manage our portfolio.\nIn 2022, we continued to return value to our shareholders by repurchasing approximately 16.6 million\nshares of our common stock and increasing our quarterly dividend by approximately 19 percent compared to\n2021.\nOur Business Segments\nWe report our financial results in two segments, our Plumbing Products segment and our Decorative\nArchitectural Products segment, which are aggregated by product similarity. Our Decorative Architectural\nProducts segment is impacted by seasonality and normally experiences stronger sales during the second and\nthird calendar quarters, corresponding with the peak season for repair and remodel activity.\n2\nPlumbing Products\nThe businesses in our Plumbing Products segment sell a wide variety of products that are manufactured or\nsourced by us.\n• Our plumbing products include faucets, showerheads, handheld showers, valves, bath hardware\nand accessories, bathing units, shower bases and enclosures, shower drains, steam shower\nsystems, sinks, kitchen accessories and toilets. We primarily sell these products to home center\nretailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them\nto plumbers, building contractors, remodelers, smaller retailers and consumers, and homebuilders.\nThe majority of our faucet, bathing and showering products are sold primarily in North America,\nEurope and China under the brand names DELTA®, BRIZO®, PEERLESS®, HANSGROHE®\n,\nAXOR®, KRAUS®, EASY DRAIN®, STEAMIST®, ELITESTEAM®, GINGER®, NEWPORT BRASS®\n,\nBRASSTECH® and WALTEC®. Our BRISTAN™ ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_cash_flow",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1413m, financing: -854m, investing: -383m",
      "golden_context": "Page 50:\n\nCASH FLOWS FROM (FOR) OPERATING ACTIVITIES:\nNet income $ 960 $ 905 $ 478\nDepreciation and amortization 149 145 151\nFair value adjustment to contingent earnout obligation — (24) 16\nDeferred income taxes (32) (15) (68)\nEmployee withholding taxes paid on stock-based compensation 29 17 15\nLoss (gain) on investments, net — 5 (25)\nLoss on disposition of businesses, net — 1 18\nPension and other post-retirement benefits (6) (3) 312\nImpairment of goodwill and other intangible assets 15 26 45\nStock-based compensation 31 49 61\nDividends paid-in-kind — — (6)\nDecrease (increase) in receivables 42 (15) (64)\nDecrease (increase) in inventories 233 (43) (350)\n(Decrease) increase in accounts payable and accrued liabilities, net (34) (225) 190\nDebt extinguishment costs — — 160\nOther, net 27 17 (3)\nNet cash from operating activities 1,413 840 930\nCASH FLOWS FROM (FOR) FINANCING ACTIVITIES:\nRetirement of notes — — (1,326)\nPurchase of Company common stock (353) (914) (1,026)\nCash dividends paid (257) (258) (211)\nDividends paid to noncontrolling interest (49) (68) (43)\nIssuance of notes, net of issuance costs — — 1,481\nProceeds from short-term borrowings 77 — —\nPayment of short-term borrowings (77) — —\nProceeds from term loan — 500 —\nPayment of term loan (200) (300) —\nDebt extinguishment costs — — (160)\nProceeds from the exercise of stock options 38 1 5\nEmployee withholding taxes paid on stock-based compensation (29) (17) (15)\nPayment of debt (5) (10) (3)\nNet cash for financing activities (854) (1,066) (1,298)\nCASH FLOWS FROM (FOR) INVESTING ACTIVITIES:\nCapital expenditures (243) (224) (128)\nAcquisition of businesses, net of cash acquired (136) — (57)\nProceeds from disposition of:\nBusinesses, net of cash disposed — — 5\nFinancial investments 2 1 171\nOther, net (6) (7) (3)\nNet cash for investing activities (383) (230) (12)\nEffect of exchange rate changes on cash and cash investments 6 (18) (20)\nCASH AND CASH INVESTMENTS:\nIncrease (decrease) for the year 182 (474) (400)\nAt January 1 452 926 1,326\nAt December 31 $ 634 $ 452 $ 926Page 38:\n\ne utilize derivative and hedging instruments to manage our exposure to currency fluctuations, primarily\nrelated to the European euro, British pound sterling, the Chinese renminbi and the U.S. dollar; occasionally, we\nhave also used derivative and hedging instruments to manage interest rate fluctuations, primarily related to debt\nissuances. We review our hedging program, derivative positions and overall risk management on a regular\nbasis. We currently do not have any derivative instruments for which we have designated hedge accounting.\nCash Flows\nSignificant sources and (uses) of cash for the years ended December 31, 2023 and 2022 are summarized\nas follows, in millions:\n2023 2022\nNet cash from operating activities $ 1,413 $ 840\nPurchase of Company common stock (353) (914)\nCash dividends paid (257) (258)\nDividends paid to noncontrolling interest (49) (68)\nProceeds from short-term borrowings 77 —\nPayment of short-term borrowings (77) —\nProceeds from term loan — 500\nPayment of term loan (200) (300)\nProceeds from the exercise of stock options 38 1\nEmployee withholding taxes paid on stock-based compensation (29) (17)\nPayment of debt (5) (10)\nCapital expenditures (243) (224)\nAcquisition of business, net of cash acquired (136) —\nEffect of exchange rate changes on cash and cash investments 6 (18)\nOther, net (4) (6)\nCash increase (decrease) $ 182 $ (474)\nOur working capital days were as follows:\nAt December 31,\n2023 2022\nReceivable days 52 53\nInventory days 77 80\nAccounts payable days 70 68\nWorking capital (receivables plus inventories, less accounts payable) as a\npercentage of net sales 16.0 % 17.4 %\n27",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_company_type",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 11:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the transition period from ___________ to ___________\nCommission file number: 1-5794\nMasco Corporation\n(Exact name of Registrant as Specified in its Charter)\nDelaware 38-1794485\n(State or Other Jurisdiction of\n(I.R.S. Employer Identification No.)\nIncorporation or Organization)\n17450 College Parkway, Livonia, Michigan (Address of Principal Executive Offices) 48152\n(Zip Code)\nRegistrant's telephone number, including area code: (313) 274-7400\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol\nName of Each Exchange\nOn Which Registered\nCommon Stock, $1.00 par value MAS New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the\nfiling reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a rec",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_key_financials",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 7967m, gross profit 2836m, operating profit 1348m, income per common share attributable to Masco Corporation basic net income: 4.03",
      "golden_context": "Page 48:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2023, 2022 and 2021\n(In Millions, Except Per Common Share Data)\n2023 2022 2021\nNet sales $ 7,967 $ 8,680 $ 8,375\nCost of sales 5,131 5,967 5,512\nGross profit 2,836 2,713 2,863\nSelling, general and administrative expenses 1,473 1,390 1,413\nImpairment charges for goodwill and other intangible assets 15 26 45\nOperating profit 1,348 1,297 1,405\nOther income (expense), net:\nInterest expense (106) (108) (278)\nOther, net (4) 4 (439)\n(110) (104) (717)\nIncome before income taxes 1,238 1,193 688\nIncome tax expense 278 288 210\nNet income 960 905 478\nLess: Net income attributable to noncontrolling interest 52 61 68\nNet income attributable to Masco Corporation $ 908 $ 844 $ 410\nIncome per common share attributable to Masco Corporation:\nBasic:\nNet income $ 4.03 $ 3.65 $ 1.63\nDiluted:\nNet income $ 4.02 $ 3.63 $ 1.62",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_revenue",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 7967m",
      "golden_context": "Page 48:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2023, 2022 and 2021\n(In Millions, Except Per Common Share Data)\n2023 2022 2021\nNet sales $ 7,967 $ 8,680 $ 8,375\nCost of sales 5,131 5,967 5,512\nGross profit 2,836 2,713 2,863\nSelling, general and administrative expenses 1,473 1,390 1,413\nImpairment charges for goodwill and other intangible assets 15 26 45\nOperating profit 1,348 1,297 1,405\nOther income (expense), net:\nInterest expense (106) (108) (278)\nOther, net (4) 4 (439)\n(110) (104) (717)\nIncome before income taxes 1,238 1,193 688\nIncome tax expense 278 288 210\nNet income 960 905 478\nLess: Net income attributable to noncontrolling interest 52 61 68\nNet income attributable to Masco Corporation $ 908 $ 844 $ 410\nIncome per common share attributable to Masco Corporation:\nBasic:\nNet income $ 4.03 $ 3.65 $ 1.63\nDiluted:\nNet income $ 4.02 $ 3.63 $ 1.62",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_revenue_growth",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 7967m, prior year 8680m",
      "golden_context": "Page 48:\n\nMASCO CORPORATION and Consolidated Subsidiaries\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFor the Years Ended December 31, 2023, 2022 and 2021\n(In Millions, Except Per Common Share Data)\n2023 2022 2021\nNet sales $ 7,967 $ 8,680 $ 8,375\nCost of sales 5,131 5,967 5,512\nGross profit 2,836 2,713 2,863\nSelling, general and administrative expenses 1,473 1,390 1,413\nImpairment charges for goodwill and other intangible assets 15 26 45\nOperating profit 1,348 1,297 1,405\nOther income (expense), net:\nInterest expense (106) (108) (278)\nOther, net (4) 4 (439)\n(110) (104) (717)\nIncome before income taxes 1,238 1,193 688\nIncome tax expense 278 288 210\nNet income 960 905 478\nLess: Net income attributable to noncontrolling interest 52 61 68\nNet income attributable to Masco Corporation $ 908 $ 844 $ 410\nIncome per common share attributable to Masco Corporation:\nBasic:\nNet income $ 4.03 $ 3.65 $ 1.63\nDiluted:\nNet income $ 4.02 $ 3.63 $ 1.62",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000328_segments",
      "report_id": "ID_000328",
      "company_name": "Masco",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Plumbing Products segment and our Decorative\nArchitectural Products",
      "golden_context": "Page 14:\n\ne opportunities across our enterprise; and\n• actively manage our portfolio.\nIn 2023, we acquired all of the share capital of Sauna360 Group Oy (\"Sauna360\") for approximately €124\nmillion ($136 million), net of cash acquired. In addition, we continued to return value to our shareholders by\nrepurchasing approximately 6.2 million shares of our common stock and increasing our quarterly dividend by\napproximately two percent compared to 2022.\nOur Business Segments\nWe report our financial results in two segments, our Plumbing Products segment and our Decorative\nArchitectural Products segment, which are aggregated by product similarity. Our Decorative Architectural\nProducts segment is impacted by seasonality and normally experiences stronger sales during the second and\nthird calendar quarters, corresponding with the peak season for repair and remodel activity.\n2\nPlumbing Products\nThe businesses in our Plumbing Products segment sell a wide variety of products that are manufactured or\nsourced by us.\n• Our plumbing products include faucets, showerheads, handheld showers, valves, bath hardware\nand accessories, bathing units, shower bases and enclosures, shower drains, steam shower\nsystems, sinks, kitchen accessories and toilets. We primarily sell these products to home center\nretailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them\nto plumbers, building contractors, remodelers, smaller retailers and consumers, and homebuilders.\nThe majority of our faucet, bathing and showering products are sold primarily in North America,\nEurope and China under the brand names DELTA®, BRIZO®, PEERLESS®, HANSGROHE®\n,\nAXOR®, KRAUS®, EASY DRAIN®, GINGER®, NEWPORT BRASS®, BRASSTECH® and WALTEC®\n.\nOur BRISTAN™ and HERITAGE™ products are sold primarily in the United Kingdom.\n• We manufacture acrylic tubs, bath and shower enclosure units, and shower bases and trays. Our\nDELTA, PEERLESS and MIROLIN® products are sold primarily to home center retailers in North\nAmerica. Our MIROLIN products are also sold to wholesalers and distributors in Canada.\n• Our spas, exercise pools, aquatic fitness systems and saunas are manufactured and sold under our\nHOT S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_cash_flow",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 4927m, investing: -788m, financing: -876m",
      "golden_context": "Page 41:\n\nLiquidity and Capital Resources\nWe closely manage our liquidity and capital resources. Our liquidity requirements depend on key variables, including the level of\ninvestment required to support our business strategies, the performance of our business, capital expenditures, credit facilities, short-\nterm borrowing arrangements and working capital management. Capital expenditures and share repurchases are a component of our\ncash flow and capital management strategy which, to a large extent, we can adjust in response to economic and other changes in our\nbusiness environment. We have a disciplined approach to capital allocation, which focuses on investing in key priorities that support our\nstrategy.\nCash and cash equivalents were as follows ($ in millions):\nJanuary 30, 2021 February 1, 2020\nCash and cash equivalents $ 5,494 $ 2,229\nThe increase in cash and cash equivalents in fiscal 2021 was primarily driven by the increase in operating cash flows and a reduction in\nshare repurchases, which were temporarily suspended from March to November of fiscal 2021.\nCash Flows\nCash flows from total operations were as follows ($ in millions):\n2021 2020 2019\nTotal cash provided by (used in):\nOperating activities $ 4,927 $ 2,565 $ 2,408\nInvesting activities (788) (895) 508\nFinancing activities (876) (1,498) (2,018)\nEffect of exchange rate changes on cash 7 (1) (14)\nIncrease in cash, cash equivalents and restricted cash $ 3,270 $ 171 $ 884\nOperating Activities\nThe increase in cash provided by operating activities in fiscal 2021 was primarily due to higher inventory turnover and the timing of\ninventory purchases and payments to meet continued higher demand. The increase was also driven by the timing of payments related\nto accrued compensation and benefits and higher earnings.\nInvesting Activities\nThe decrease in cash used in investing activities in fiscal 2021 was primarily due to the absence of acquisitions.\nFinancing Activities\nThe decrease in cash used in financing activities in fiscal 2021 was primarily due to lower share repurchases, which were temporarily\nsuspended from March to November of fiscal 2021.\nSources of Liquidity\nFunds generated by operating activities, available cash and cash equivalents, our credit facilities and other debt arrangements are our\nmost significant sources of liquidity. We believe our sources of liquidity will be sufficient to fund operations and anticipated capital\nexpenditures, share repurchases, dividends and strategic initiatives, including business combinations. However, in the event our\nliquidity is insufficient, we may be required to limit our spending. There can be no assurance that we will continue to generate cash\nflows at or above current levels or that we will be able to maintain our ability to borrow under our existing credit facilities or obtain\nadditional financing, if necessary, on favorable terms.\nWe have a $1.25 billion five-year senior unsecured revolving credit facility (the \"Facility”) with a syndicate of banks. Refer to\nNote 8, Debt, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of\nthis Annual Report on Form 10-K for additional information on the terms of the Facility. In light of the uncertainty surrounding the impact\nof COVID-19 and to maximize liquidity, we executed a short-term draw on the full amount of the Facility on March 19, 2020, which\nremained outstanding until July 27, 2020, whe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_company_type",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n____________________________________________________________________________\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 30, 2021\nOR\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-9595\n______________________________________________________________\nBEST BUY CO., INC.\n(Exact name of registrant as specified in its charter)\nMinnesota 41-0907483\nState or other jurisdiction of\nincorporation or organization\n7601 Penn Avenue South\nRichfield, Minnesota\n(I.R.S. Employer\nIdentification No.)\n55423\n(Zip Code)\n(Address of principal executive offices)\n(612) 291-1000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of exchange on which registered\nBBY New York Stock Exchange\nCommon Stock, $0.10 par value per share Securities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer Accelerated Filer Non-accelerated Filer\nSmaller Reporting Company Emerging Growth Company\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act.\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_key_financials",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "revenue 47262m, diluted net earnings per share 6.84",
      "golden_context": "Page 7:\n\nHighlights\n$ in millions, except per share amounts\nFiscal Year 2021 2020 2019 2018(1) 2017\nEarnings Data\nRevenue $47,262 $43,638 $42,879 $42,151 $39,403\nComparable sales growth(2) 9.7% 2.1% 4.8% 5.6% 0.3%\nOperating income rate 5.1% 4.6% 4.4% 4.4% 4.7%\nNon-GAAP operating income rate(3) 5.8% 4.9% 4.6% 4.6% 4.4%\nDiluted net earnings per share $6.84 $5.75 $5.20 $3.26 $3.81\nNon-GAAP diluted net earnings per share(3) $7.91 $6.07 $5.32 $4.42 $3.51\nOther Financial Measures\nYear-end cash and cash equivalents $5,494 $2,229 $1,980 $1,101 $2,240\nCash provided by operating activities $4,927 $2,565 $2,408 $2,141 $ 2,557\nCapital expenditures $713 $743 $819 $688 $580\nCash provided by operating activities less capital expenditures $4,214 $1,822 $1,589 $1,453 $1,977\nReturn on assets(4) 9.8% 9.7% 11.1% 7.0% 8.7%\nNon-GAAP return on investment(3) 29.1% 22.4% 22.3% 20.7% 18.8%\nShareholder Metrics\nRepurchases of common stock $312 $1,003 $1,505 $2,004 $698\nCash dividends declared and paid per share $2.20 $2.00 $1.80 $1.36 $1.57\nCommon stock price:\nHigh Low Other Metrics\n$124.89 $91.83 $84.37 $78.59 $49.40\n$48.11 $58.07 $47.72 $41.67 $26.10\nDomestic comparable online sales growth(5) 144.4% 17.0% 10.5% 21.8% 20.8%\nDomestic online revenue as a % of Domestic segment revenue 43.1% 19.0% 16.6% 15.5% 13.4%\nNumber of stores at year-end:\nDomestic(6) International Total 991 1,009 1,026 1,298 1,369\n168 222 212 216 212\n1,159 1,231 1,238 1,514 1,581\nComparable sales (2)\n5.6%\n4.8%\n9.7%\nNon-GAAP operating income rate(3)\n5.8%\n4.4%\n4.6%\n4.6%\n4.9%\nNon-GAAP diluted EPS(3)\n$6.07\n$5.32\n$7.91\n$4.42\n$3.51\n2.1%\n0.3%\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\n(1) Fiscal 2018 included 53 weeks. All other periods presented included 52 weeks.\n(2) In fiscal 2020, the company refined its methodology for calculating comparable sales. It now reflects certain revenue streams previously excluded from the comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_revenue",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "revenue 47262m ",
      "golden_context": "Page 7:\n\nHighlights\n$ in millions, except per share amounts\nFiscal Year 2021 2020 2019 2018(1) 2017\nEarnings Data\nRevenue $47,262 $43,638 $42,879 $42,151 $39,403\nComparable sales growth(2) 9.7% 2.1% 4.8% 5.6% 0.3%\nOperating income rate 5.1% 4.6% 4.4% 4.4% 4.7%\nNon-GAAP operating income rate(3) 5.8% 4.9% 4.6% 4.6% 4.4%\nDiluted net earnings per share $6.84 $5.75 $5.20 $3.26 $3.81\nNon-GAAP diluted net earnings per share(3) $7.91 $6.07 $5.32 $4.42 $3.51\nOther Financial Measures\nYear-end cash and cash equivalents $5,494 $2,229 $1,980 $1,101 $2,240\nCash provided by operating activities $4,927 $2,565 $2,408 $2,141 $ 2,557\nCapital expenditures $713 $743 $819 $688 $580\nCash provided by operating activities less capital expenditures $4,214 $1,822 $1,589 $1,453 $1,977\nReturn on assets(4) 9.8% 9.7% 11.1% 7.0% 8.7%\nNon-GAAP return on investment(3) 29.1% 22.4% 22.3% 20.7% 18.8%\nShareholder Metrics\nRepurchases of common stock $312 $1,003 $1,505 $2,004 $698\nCash dividends declared and paid per share $2.20 $2.00 $1.80 $1.36 $1.57\nCommon stock price:\nHigh Low Other Metrics\n$124.89 $91.83 $84.37 $78.59 $49.40\n$48.11 $58.07 $47.72 $41.67 $26.10\nDomestic comparable online sales growth(5) 144.4% 17.0% 10.5% 21.8% 20.8%\nDomestic online revenue as a % of Domestic segment revenue 43.1% 19.0% 16.6% 15.5% 13.4%\nNumber of stores at year-end:\nDomestic(6) International Total 991 1,009 1,026 1,298 1,369\n168 222 212 216 212\n1,159 1,231 1,238 1,514 1,581\nComparable sales (2)\n5.6%\n4.8%\n9.7%\nNon-GAAP operating income rate(3)\n5.8%\n4.4%\n4.6%\n4.6%\n4.9%\nNon-GAAP diluted EPS(3)\n$6.07\n$5.32\n$7.91\n$4.42\n$3.51\n2.1%\n0.3%\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\n(1) Fiscal 2018 included 53 weeks. All other periods presented included 52 weeks.\n(2) In fiscal 2020, the company refined its methodology for calculating comparable sales. It now reflects certain revenue streams previously excluded from the comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_revenue_growth",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "comparable sales growth 9.7%",
      "golden_context": "Page 7:\n\nHighlights\n$ in millions, except per share amounts\nFiscal Year 2021 2020 2019 2018(1) 2017\nEarnings Data\nRevenue $47,262 $43,638 $42,879 $42,151 $39,403\nComparable sales growth(2) 9.7% 2.1% 4.8% 5.6% 0.3%\nOperating income rate 5.1% 4.6% 4.4% 4.4% 4.7%\nNon-GAAP operating income rate(3) 5.8% 4.9% 4.6% 4.6% 4.4%\nDiluted net earnings per share $6.84 $5.75 $5.20 $3.26 $3.81\nNon-GAAP diluted net earnings per share(3) $7.91 $6.07 $5.32 $4.42 $3.51\nOther Financial Measures\nYear-end cash and cash equivalents $5,494 $2,229 $1,980 $1,101 $2,240\nCash provided by operating activities $4,927 $2,565 $2,408 $2,141 $ 2,557\nCapital expenditures $713 $743 $819 $688 $580\nCash provided by operating activities less capital expenditures $4,214 $1,822 $1,589 $1,453 $1,977\nReturn on assets(4) 9.8% 9.7% 11.1% 7.0% 8.7%\nNon-GAAP return on investment(3) 29.1% 22.4% 22.3% 20.7% 18.8%\nShareholder Metrics\nRepurchases of common stock $312 $1,003 $1,505 $2,004 $698\nCash dividends declared and paid per share $2.20 $2.00 $1.80 $1.36 $1.57\nCommon stock price:\nHigh Low Other Metrics\n$124.89 $91.83 $84.37 $78.59 $49.40\n$48.11 $58.07 $47.72 $41.67 $26.10\nDomestic comparable online sales growth(5) 144.4% 17.0% 10.5% 21.8% 20.8%\nDomestic online revenue as a % of Domestic segment revenue 43.1% 19.0% 16.6% 15.5% 13.4%\nNumber of stores at year-end:\nDomestic(6) International Total 991 1,009 1,026 1,298 1,369\n168 222 212 216 212\n1,159 1,231 1,238 1,514 1,581\nComparable sales (2)\n5.6%\n4.8%\n9.7%\nNon-GAAP operating income rate(3)\n5.8%\n4.4%\n4.6%\n4.6%\n4.9%\nNon-GAAP diluted EPS(3)\n$6.07\n$5.32\n$7.91\n$4.42\n$3.51\n2.1%\n0.3%\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\nFY17\nFY18\nFY19\nFY20\nFY21\n(1) Fiscal 2018 included 53 weeks. All other periods presented included 52 weeks.\n(2) In fiscal 2020, the company refined its methodology for calculating comparable sales. It now reflects certain revenue streams previously excluded from the comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000329_segments",
      "report_id": "ID_000329",
      "company_name": "Best Buy",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 14:\n\naries. Any references to our website addresses do not constitute incorporation by reference\nof the information contained on the websites.\nDescription of Business\nWe were incorporated in the state of Minnesota in 1966. We are driven by our purpose to enrich lives through technology. We do that\nby leveraging our combination of technology and a human touch to meet our customers’ everyday needs, whether they come to us\nonline, visit our stores or invite us into their homes. We have operations in the U.S., Canada and Mexico.\nSegments and Geographic Areas\nWe have two reportable segments: Domestic and International. The Domestic segment is comprised of the operations, including our\nBest Buy Health business, in all states, districts and territories of the U.S. under various brand names including Best Buy, Best Buy\nBusiness, Best Buy Express, Best Buy Health, CST, Geek Squad, GreatCall, Lively, Magnolia and Pacific Kitchen and Home and the\ndomain names bestbuy.com and greatcall.com. The International segment is comprised of all operations in Canada and Mexico under\nthe brand names Best Buy, Best Buy Express, Best Buy Mobile and Geek Squad and the domain names bestbuy.ca and\nbestbuy.com.mx.\nDuring the third quarter of fiscal 2021 we made the decision to exit our operations in Mexico and expect operations to cease during\nfiscal 2022. In fiscal 2020 we acquired all of the outstanding shares of Critical Signal Technologies, Inc. (“CST”) and the predictive\nhealthcare technology business of BioSensics, LLC (“BioSensics”). In fiscal 2019 we acquired all of the outstanding shares of\nGreatCall, Inc. (“GreatCall”). Refer to Note 2, Restructuring, and Note 3, Acquisitions, of the Notes to Consolidated Financial\nStatements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K for additional\ninformation.\nOperations\nOur Domestic and International segments are managed by leadership teams responsible for all areas of the business. Both segments\noperate a multi-channel platform that allows customers to come to us online, visit our stores or invite us into their homes.\nDomestic Segment\nDevelopment of merchandise and service offerings, pricing and promotions, procurement and supply chain, online and mobile\napplication operations, marketing and advertising and labor deployment across all channels are centrally managed. In addition, support\ncapabilities (for example, human resources, finance, information technology and real estate management) are generally performed at\nour corporate headquarters. We also have field operations that support retail, services and in-home teams from our corporate\nheadquarters and regional locations. Our retail stores have procedures for inventory management, asset protection, transaction\nprocessing, customer relations, store administration, product sales and services, staff training and merchandise display that are largely\nstandardized. All stores generally operate under standard procedures with a degree of flexibility for store management to address\ncertain local market characteristics.\nInternational Segment\nOur Canada and Mexico operations are similar to operations in our Domestic segment.\nMerchandise and Services\nOur Domestic and International segments have offerings in si",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_cash_flow",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "6.5bn free cash flow",
      "golden_context": "Page 6:\n\ncialty retailers. We were also named to the\n2022 JUST 100 list, recognizing companies for\ndoing right by all their stakeholders, including our\nemployees, customers, communities, and the\nenvironment. Finally, Barron’s ranked Best Buy No.\n4 on its prestigious list of 100 most sustainable\ncompanies, representing the fifth year in a row we\nhave ranked in the Top 5.\nFrom a financial perspective, in fiscal 2022 we\ngenerated record sales and earnings results that\nsignificantly outpaced our expectations. Revenue\ngrew more than 9% versus last year to $51.8 billion.\nCompared to two years ago, our fiscal 2022 GAAP\noperating income rate increased 130 basis points\nto 5.9% and our non-GAAP operating income rate\nincreased 110 basis points to 6.0%.* We generated\nmore than $6.5 billion of free cash flow in the\npast two years and, in fiscal 2022, we returned\n$4.2 billion of that to shareholders in the form\nof dividends and share repurchases.* Our fiscal\n2022 non-GAAP return on investment was 30.8%,\nwhich was an increase of approximately 840 basis\npoints compared to fiscal 2020.* Earlier this year,\nwe increased our fiscal 2023 regular quarterly\ndividend 26% to $0.88 per share, marking eight\nstraight years of at least 10% growth in our dividend.\nAs we look to the future, we are in a strong\nposition to drive the business forward and deliver\ngrowth over the long term. As we’ve said, we do\nexpect fiscal 2023 to look softer as the industry\ncycles the last two years of unusually strong\ndemand and government stimulus actions and as\nwe leverage our position of strength to continue to\ninvest in our future. But in fiscal 2025 we expect to\ngrow revenue and expand our operating income\nrate beyond what we reported in fiscal 2022.\nIn summary, the past two years challenged us\nall in ways we never could have imagined. I am\nimmensely proud that the safety and care of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_company_type",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 13:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n____________________________________________________________________________\nFORM 10-K\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 29, 2022\nOR\n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-9595\n______________________________________________________________\nBEST BUY CO., INC.\n(Exact name of registrant as specified in its charter)\nMinnesota 41-0907483\nState or other jurisdiction of\nincorporation or organization\n7601 Penn Avenue South\nRichfield, Minnesota\n(I.R.S. Employer\nIdentification No.)\n55423\n(Zip Code)\n(Address of principal executive offices)\n(612) 291-1000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of exchange on which registered\nCommon Stock, $0.10 par value per share BBY New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No\nYes No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes  No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer  Accelerated Filer Non-accelerated Filer\nSmaller Reporting Company Emerging Growth Company\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act.\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. \nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No \nThe aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of July 30, 2021, was approximately 24.5 b",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_key_financials",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "9% revenue growth to 51.8bn, operating income rate increased 130 basis points to 5.9%, 6.5bn free cash flow.",
      "golden_context": "Page 6:\n\ncialty retailers. We were also named to the\n2022 JUST 100 list, recognizing companies for\ndoing right by all their stakeholders, including our\nemployees, customers, communities, and the\nenvironment. Finally, Barron’s ranked Best Buy No.\n4 on its prestigious list of 100 most sustainable\ncompanies, representing the fifth year in a row we\nhave ranked in the Top 5.\nFrom a financial perspective, in fiscal 2022 we\ngenerated record sales and earnings results that\nsignificantly outpaced our expectations. Revenue\ngrew more than 9% versus last year to $51.8 billion.\nCompared to two years ago, our fiscal 2022 GAAP\noperating income rate increased 130 basis points\nto 5.9% and our non-GAAP operating income rate\nincreased 110 basis points to 6.0%.* We generated\nmore than $6.5 billion of free cash flow in the\npast two years and, in fiscal 2022, we returned\n$4.2 billion of that to shareholders in the form\nof dividends and share repurchases.* Our fiscal\n2022 non-GAAP return on investment was 30.8%,\nwhich was an increase of approximately 840 basis\npoints compared to fiscal 2020.* Earlier this year,\nwe increased our fiscal 2023 regular quarterly\ndividend 26% to $0.88 per share, marking eight\nstraight years of at least 10% growth in our dividend.\nAs we look to the future, we are in a strong\nposition to drive the business forward and deliver\ngrowth over the long term. As we’ve said, we do\nexpect fiscal 2023 to look softer as the industry\ncycles the last two years of unusually strong\ndemand and government stimulus actions and as\nwe leverage our position of strength to continue to\ninvest in our future. But in fiscal 2025 we expect to\ngrow revenue and expand our operating income\nrate beyond what we reported in fiscal 2022.\nIn summary, the past two years challenged us\nall in ways we never could have imagined. I am\nimmensely proud that the safety and care of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_revenue",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "51.8bn",
      "golden_context": "Page 6:\n\ncialty retailers. We were also named to the\n2022 JUST 100 list, recognizing companies for\ndoing right by all their stakeholders, including our\nemployees, customers, communities, and the\nenvironment. Finally, Barron’s ranked Best Buy No.\n4 on its prestigious list of 100 most sustainable\ncompanies, representing the fifth year in a row we\nhave ranked in the Top 5.\nFrom a financial perspective, in fiscal 2022 we\ngenerated record sales and earnings results that\nsignificantly outpaced our expectations. Revenue\ngrew more than 9% versus last year to $51.8 billion.\nCompared to two years ago, our fiscal 2022 GAAP\noperating income rate increased 130 basis points\nto 5.9% and our non-GAAP operating income rate\nincreased 110 basis points to 6.0%.* We generated\nmore than $6.5 billion of free cash flow in the\npast two years and, in fiscal 2022, we returned\n$4.2 billion of that to shareholders in the form\nof dividends and share repurchases.* Our fiscal\n2022 non-GAAP return on investment was 30.8%,\nwhich was an increase of approximately 840 basis\npoints compared to fiscal 2020.* Earlier this year,\nwe increased our fiscal 2023 regular quarterly\ndividend 26% to $0.88 per share, marking eight\nstraight years of at least 10% growth in our dividend.\nAs we look to the future, we are in a strong\nposition to drive the business forward and deliver\ngrowth over the long term. As we’ve said, we do\nexpect fiscal 2023 to look softer as the industry\ncycles the last two years of unusually strong\ndemand and government stimulus actions and as\nwe leverage our position of strength to continue to\ninvest in our future. But in fiscal 2025 we expect to\ngrow revenue and expand our operating income\nrate beyond what we reported in fiscal 2022.\nIn summary, the past two years challenged us\nall in ways we never could have imagined. I am\nimmensely proud that the safety and care of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_revenue_growth",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "9% growth",
      "golden_context": "Page 6:\n\ncialty retailers. We were also named to the\n2022 JUST 100 list, recognizing companies for\ndoing right by all their stakeholders, including our\nemployees, customers, communities, and the\nenvironment. Finally, Barron’s ranked Best Buy No.\n4 on its prestigious list of 100 most sustainable\ncompanies, representing the fifth year in a row we\nhave ranked in the Top 5.\nFrom a financial perspective, in fiscal 2022 we\ngenerated record sales and earnings results that\nsignificantly outpaced our expectations. Revenue\ngrew more than 9% versus last year to $51.8 billion.\nCompared to two years ago, our fiscal 2022 GAAP\noperating income rate increased 130 basis points\nto 5.9% and our non-GAAP operating income rate\nincreased 110 basis points to 6.0%.* We generated\nmore than $6.5 billion of free cash flow in the\npast two years and, in fiscal 2022, we returned\n$4.2 billion of that to shareholders in the form\nof dividends and share repurchases.* Our fiscal\n2022 non-GAAP return on investment was 30.8%,\nwhich was an increase of approximately 840 basis\npoints compared to fiscal 2020.* Earlier this year,\nwe increased our fiscal 2023 regular quarterly\ndividend 26% to $0.88 per share, marking eight\nstraight years of at least 10% growth in our dividend.\nAs we look to the future, we are in a strong\nposition to drive the business forward and deliver\ngrowth over the long term. As we’ve said, we do\nexpect fiscal 2023 to look softer as the industry\ncycles the last two years of unusually strong\ndemand and government stimulus actions and as\nwe leverage our position of strength to continue to\ninvest in our future. But in fiscal 2025 we expect to\ngrow revenue and expand our operating income\nrate beyond what we reported in fiscal 2022.\nIn summary, the past two years challenged us\nall in ways we never could have imagined. I am\nimmensely proud that the safety and care of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000330_segments",
      "report_id": "ID_000330",
      "company_name": "Best Buy",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 16:\n\nPART I\nItem 1. Business.\nUnless the context otherwise requires, the terms “we,” “us” and “our” in this Annual Report on Form 10-K refer to Best Buy Co., Inc.\nand, as applicable, its consolidated subsidiaries. Any references to our website addresses do not constitute incorporation by reference\nof the information contained on the websites.\nDescription of Business\nWe were incorporated in the state of Minnesota in 1966. We are driven by our purpose to enrich lives through technology and our vision\nto personalize and humanize technology solutions for every stage of life. We accomplish this by leveraging our combination of\ntechnology and a human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into\ntheir homes. We have operations in the U.S. and Canada.\nSegments and Geographic Areas\nWe have two reportable segments: Domestic and International. The Domestic segment is comprised of our operations in all states,\ndistricts and territories of the U.S. and our Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy\nBusiness, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen and Home and Yardbird and the\ndomain names bestbuy.com, currenthealth.com, lively.com and yardbird.com. All of our former stores in Mexico were closed as of the\nend of the first quarter of fiscal 2022, and our International segment is now comprised of all operations in Canada under the brand\nnames Best Buy, Best Buy Mobile and Geek Squad and the domain name bestbuy.ca.\nIn fiscal 2020, we acquired all of the outstanding shares of Critical Signal Technologies, Inc. (“CST”) and the predictive healthcare\ntechnology business of BioSensics, LLC (“BioSensics”). In fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd.\n(“Current Health”) and Two Peaks, LLC d/b/a Yardbird Furniture (“Yardbird”).\nOperations\nOur Domestic and International segments are managed by leadership teams responsible for all areas of the business. Both segments\noperate an omnichannel platform that allows customers to come to us online, visit our stores or invite us into their homes.\nDevelopment of merchandise and service offerings, pricing and promotions, procurement and supply chain, online and mobile\napplication operations, marketing and advertising and labor deployment across all channels are centrally managed. In addition, support\ncapabilities (for example, human resources, finance, information technology and real estate management) operate from our corporate\nheadquarters. We also have field operations that support retail, services and in-home teams from our corporate headquarters and\nregional locations. Our retail stores have procedures for inventory management, asset protection, transaction processing, customer\nrelations, store administration, product sales and services, staff training and merchandise display that are largely standardized. All\nstores generally operate under standard procedures with a degree of flexibility for store management to address certain local market\ncharacteristics. While day-to-day operations of our stores is led by store management, more strategic decisions regarding, for example,\nstore locations, format, category assortment and fulfillment strategy are addressed at a market or regional level.\nMerchandise and Services\nOur Domestic and International segments have offerings in six revenue categories. The key components of each revenue category are\nas follows:\nComputing and Mobile Phones - computing (including desktops, notebooks and peripherals), mobile phones (including\nrelated mobile netw",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_cash_flow",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1824m, investing: -962m, financing: -1806m",
      "golden_context": "Page 35:\n\ne in cash and cash equivalents in fiscal 2023 was primarily driven by share repurchases, capital expenditures and dividend\npayments. These decreases were partially offset by positive cash flows from operations, primarily driven by earnings.\nOur cash deposits held at financial institutions may exceed the amount of insurance provided on such deposits. Generally, these\ndeposits may be redeemed upon demand and are maintained with financial institutions with reputable credit. We limit exposure relating\nto financial instruments by diversifying the financial instruments among various counterparties, which consist primarily of major financial\ninstitutions.\nCash Flows\nCash flows were as follows ($ in millions):\n2023 2022 2021\nTotal cash provided by (used in):\nOperating activities $ 1,824 $ 3,252 $ 4,927\nInvesting activities (962) (1,372) (788)\nFinancing activities (1,806) (4,297) (876)\nEffect of exchange rate changes on cash (8) (3) 7\nIncrease (decrease) in cash, cash equivalents and restricted cash $ (952) $ (2,420) $ 3,270\nOperating Activities\nThe decrease in cash provided by operating activities in fiscal 2023 was primarily due to lower earnings and higher incentive\ncompensation payments in the current year as a result of strong fiscal 2022 results, partially offset by the timing and volume of\ninventory purchases and payments.\nInvesting Activities\nThe decrease in cash used in investing activities in fiscal 2023 was primarily driven by the acquisitions of Current Health and Yardbird\nin fiscal 2022 and a decrease in purchases of investments, partially offset by an increase in capital spending for initiatives to support\nour business.\nFinancing Activities\nThe decrease in cash used in financing activities in fiscal 2023 was primarily driven by lower share repurchases.\nSources of Liquidity\nFunds generated by operating activities, available cash and cash equivalents, our credit facilities and other debt arrangements are our\nmost significant sources of liquidity. We believe our sources of liquidity will be sufficient to fund operations and anticipated capital\nexpenditures, share repurchases, dividends and strategic initiatives, including business combinations. However, in the event our\nliquidity is in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_company_type",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n____________________________________________________________________________\nFORM 10-K\n(Mark One)\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 28, 2023\nOR\n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from Commission file number 1-9595\n______________________________________________________________\nto\nBEST BUY CO., INC.\n(Exact name of registrant as specified in its charter)\nMinnesota 41-0907483\nState or other jurisdiction of\nincorporation or organization\n7601 Penn Avenue South\nRichfield, Minnesota\n(Address of principal executive offices)\n(I.R.S. Employer\nIdentification No.)\n55423\n(Zip Code)\n(612) 291-1000\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol Name of exchange on which registered\nBBY New York Stock Exchange\nTitle of each class Common Stock, $0.10 par value per share Securities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes  No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer  Accelerated Filer Non-accelerated Filer\nSmaller Reporting Company Emerging Growth Company\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act.\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. \nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_key_financials",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue 46298m, gross profit 9912m, operating income 1795m, net earnings 1419m",
      "golden_context": "Page 31:\n\nResults of Operations\nConsolidated Results\nSelected consolidated financial data was as follows ($ in millions, except per share amounts):\n(10.6) % 9.5 % 8.3 %\n$ 9,912 $ 11,640 22.5 16.7 $ 10,573\n% 22.4 %\n$ 7,928\n% 16.8 %\n$ 1,795 $ 3,039 $ 2,391\nNet earnings $ 1,419 $ 2,454 $ 1,798\nDiluted earnings per share $ 6.29 $ 9.84 $ 6.84\n(1) Because retailers vary in how they record costs of operating their supply chain between cost of sales and SG&A, our gross profit rate and SG&A rate may not be\ncomparable to other retailers' corresponding rates. For additional information regarding costs classified in cost of sales and SG&A, refer to Note 1, Summary of\nSignificant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual\nReport on Form 10-K.\nIn fiscal 2023, we generated $46.3 billion in revenue and our comparable sales declined 9.9%. Our comparable sales decline was due\nto multiple factors, including the following: (1) the lapping of strong sales in fiscal 2022 and fiscal 2021 that were driven by heightened\ndemand during the pandemic for stay-at-home focused purchases and the benefit of government stimulus payments; (2) the shift of\nconsumer spending back into service areas such as travel and entertainment and away from durable goods; and (3) macroeconomic\npressures, including high inflation, that resulted in overall softness in customer demand within the consumer electronics industry.\nRestructuring charges $ 147 $ (34) $ 254\nOperating income Operating income as a % of revenue 3.9 % 5.9 % 5.1 %\nRevenue, gross profit rate, SG&A and operating income rate changes in fiscal 2023 were primarily driven by our Domestic segment.\nFor further discussion of each segment’s rate changes, see Segment Performance Summary, below.\nSegment Performance Summary\nDomestic Segment\nSelected financial data for the Domestic segment was as follows ($ in millions):\nDomestic Segment Performance Summary 2023 2021\nRevenue $ 42,794 $ 47,830 $ 43,293\nRevenue % change (10.5) % Comparable sales % change(1) (10.3) % 2022 % 7.9 %\n% 9.2 %\n10.5 11.0 Gross profit $ 9,106 $ 10,702 $ 9,720\nGross profit as a % of revenue 21.3 % 22.4 % 22.5 %\nSG&A $ 7,332 SG&A as a % of revenue 17.1 % Restructuring charges $ 140 $ (39) $ 133\nOperating income $ 1,634 16.6 $ 7,239\n% 16.7 %\n$ 2,795 $ 2,348\nOperating income as a % of revenue 3.8 % Selected Online Revenue Data\nTotal online revenue $ 14,212 Online revenue as a % of total segment revenue 33.2 % $ 7,946 43.1 %\n5.8 % 5.4 %\n$ 16,430 $ 18,674\n34.4 % Comparable online sales% change(1) (13.5) % (12.0) % 144.4 %\n(1) Comparable online sales are included in the comparable sales calculation.\nThe decrease in revenue in fiscal 2023 was primarily driven by comparable sales declines across most of our product categories,\nparticularly computing, home theater, mobile phones and appliances. Onli",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_revenue",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "46298m",
      "golden_context": "Page 31:\n\nResults of Operations\nConsolidated Results\nSelected consolidated financial data was as follows ($ in millions, except per share amounts):\n(10.6) % 9.5 % 8.3 %\n$ 9,912 $ 11,640 22.5 16.7 $ 10,573\n% 22.4 %\n$ 7,928\n% 16.8 %\n$ 1,795 $ 3,039 $ 2,391\nNet earnings $ 1,419 $ 2,454 $ 1,798\nDiluted earnings per share $ 6.29 $ 9.84 $ 6.84\n(1) Because retailers vary in how they record costs of operating their supply chain between cost of sales and SG&A, our gross profit rate and SG&A rate may not be\ncomparable to other retailers' corresponding rates. For additional information regarding costs classified in cost of sales and SG&A, refer to Note 1, Summary of\nSignificant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual\nReport on Form 10-K.\nIn fiscal 2023, we generated $46.3 billion in revenue and our comparable sales declined 9.9%. Our comparable sales decline was due\nto multiple factors, including the following: (1) the lapping of strong sales in fiscal 2022 and fiscal 2021 that were driven by heightened\ndemand during the pandemic for stay-at-home focused purchases and the benefit of government stimulus payments; (2) the shift of\nconsumer spending back into service areas such as travel and entertainment and away from durable goods; and (3) macroeconomic\npressures, including high inflation, that resulted in overall softness in customer demand within the consumer electronics industry.\nRestructuring charges $ 147 $ (34) $ 254\nOperating income Operating income as a % of revenue 3.9 % 5.9 % 5.1 %\nRevenue, gross profit rate, SG&A and operating income rate changes in fiscal 2023 were primarily driven by our Domestic segment.\nFor further discussion of each segment’s rate changes, see Segment Performance Summary, below.\nSegment Performance Summary\nDomestic Segment\nSelected financial data for the Domestic segment was as follows ($ in millions):\nDomestic Segment Performance Summary 2023 2021\nRevenue $ 42,794 $ 47,830 $ 43,293\nRevenue % change (10.5) % Comparable sales % change(1) (10.3) % 2022 % 7.9 %\n% 9.2 %\n10.5 11.0 Gross profit $ 9,106 $ 10,702 $ 9,720\nGross profit as a % of revenue 21.3 % 22.4 % 22.5 %\nSG&A $ 7,332 SG&A as a % of revenue 17.1 % Restructuring charges $ 140 $ (39) $ 133\nOperating income $ 1,634 16.6 $ 7,239\n% 16.7 %\n$ 2,795 $ 2,348\nOperating income as a % of revenue 3.8 % Selected Online Revenue Data\nTotal online revenue $ 14,212 Online revenue as a % of total segment revenue 33.2 % $ 7,946 43.1 %\n5.8 % 5.4 %\n$ 16,430 $ 18,674\n34.4 % Comparable online sales% change(1) (13.5) % (12.0) % 144.4 %\n(1) Comparable online sales are included in the comparable sales calculation.\nThe decrease in revenue in fiscal 2023 was primarily driven by comparable sales declines across most of our product categories,\nparticularly computing, home theater, mobile phones and appliances. Onli",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_revenue_growth",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "46298m, 51761m prior year",
      "golden_context": "Page 31:\n\nResults of Operations\nConsolidated Results\nSelected consolidated financial data was as follows ($ in millions, except per share amounts):\n(10.6) % 9.5 % 8.3 %\n$ 9,912 $ 11,640 22.5 16.7 $ 10,573\n% 22.4 %\n$ 7,928\n% 16.8 %\n$ 1,795 $ 3,039 $ 2,391\nNet earnings $ 1,419 $ 2,454 $ 1,798\nDiluted earnings per share $ 6.29 $ 9.84 $ 6.84\n(1) Because retailers vary in how they record costs of operating their supply chain between cost of sales and SG&A, our gross profit rate and SG&A rate may not be\ncomparable to other retailers' corresponding rates. For additional information regarding costs classified in cost of sales and SG&A, refer to Note 1, Summary of\nSignificant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual\nReport on Form 10-K.\nIn fiscal 2023, we generated $46.3 billion in revenue and our comparable sales declined 9.9%. Our comparable sales decline was due\nto multiple factors, including the following: (1) the lapping of strong sales in fiscal 2022 and fiscal 2021 that were driven by heightened\ndemand during the pandemic for stay-at-home focused purchases and the benefit of government stimulus payments; (2) the shift of\nconsumer spending back into service areas such as travel and entertainment and away from durable goods; and (3) macroeconomic\npressures, including high inflation, that resulted in overall softness in customer demand within the consumer electronics industry.\nRestructuring charges $ 147 $ (34) $ 254\nOperating income Operating income as a % of revenue 3.9 % 5.9 % 5.1 %\nRevenue, gross profit rate, SG&A and operating income rate changes in fiscal 2023 were primarily driven by our Domestic segment.\nFor further discussion of each segment’s rate changes, see Segment Performance Summary, below.\nSegment Performance Summary\nDomestic Segment\nSelected financial data for the Domestic segment was as follows ($ in millions):\nDomestic Segment Performance Summary 2023 2021\nRevenue $ 42,794 $ 47,830 $ 43,293\nRevenue % change (10.5) % Comparable sales % change(1) (10.3) % 2022 % 7.9 %\n% 9.2 %\n10.5 11.0 Gross profit $ 9,106 $ 10,702 $ 9,720\nGross profit as a % of revenue 21.3 % 22.4 % 22.5 %\nSG&A $ 7,332 SG&A as a % of revenue 17.1 % Restructuring charges $ 140 $ (39) $ 133\nOperating income $ 1,634 16.6 $ 7,239\n% 16.7 %\n$ 2,795 $ 2,348\nOperating income as a % of revenue 3.8 % Selected Online Revenue Data\nTotal online revenue $ 14,212 Online revenue as a % of total segment revenue 33.2 % $ 7,946 43.1 %\n5.8 % 5.4 %\n$ 16,430 $ 18,674\n34.4 % Comparable online sales% change(1) (13.5) % (12.0) % 144.4 %\n(1) Comparable online sales are included in the comparable sales calculation.\nThe decrease in revenue in fiscal 2023 was primarily driven by comparable sales declines across most of our product categories,\nparticularly computing, home theater, mobile phones and appliances. Onli",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000331_segments",
      "report_id": "ID_000331",
      "company_name": "Best Buy",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Domestic and International",
      "golden_context": "Page 10:\n\nWe were incorporated in the state of Minnesota in 1966. We are driven by our purpose to enrich lives through technology and our vision\nto personalize and humanize technology solutions for every stage of life. We accomplish this by leveraging our combination of\ntechnology and a human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into\ntheir homes. We have operations in the U.S. and Canada.\nSegments and Geographic Areas\nWe have two reportable segments: Domestic and International. The Domestic segment is comprised of our operations in all states,\ndistricts and territories of the U.S. and our Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy\nBusiness, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen and Home, TechLiquidators and\nYardbird and the domain names bestbuy.com, currenthealth.com, lively.com, techliquidators.com and yardbird.com. All of our former\nstores in Mexico were closed as of the end of the first quarter of fiscal 2022, and our International segment is comprised of all\noperations in Canada under the brand names Best Buy, Best Buy Mobile and Geek Squad and the domain name bestbuy.ca.\nIn fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd. (“Current Health”) and Two Peaks, LLC d/b/a Yardbird\nFurniture (“Yardbird”).\nOperations\nOur Domestic and International segments are managed by leadership teams responsible for all areas of the business. Both segments\noperate an omnichannel platform that allows customers to come to us online, visit our stores or invite us into their homes.\nDevelopment of merchandise and service offerings, pricing and promotions, procurement and supply chain, online and mobile\napplication operations, marketing and advertising and labor deployment across all channels are centrally managed. In addition, support\ncapabilities (for example, human resources, finance, information technology and real estate management) operate from our corporate\nheadquarters. We also have field operations that support retail, services and in-home teams from our corporate headquarters and\nregional locations. Our retail stores have procedures for inventory management, asset protection, transaction processing, customer\nrelations, store administration, product sales and services, staff training and merchandise display that are largely standardized. All\nstores generally operate under standard procedures with a degree of flexibility for store management to address certain local market\ncharacteristics. While day-to-day operations of our stores are led by store management, more strategic decisions regarding, for\nexample, store locations, format, category assortment and fulfillment strategy are addressed at a market or regional level.\nOur Best Buy Health business has a dedicated leadership team and operations team. The Best Buy Health leadership team manages\nthe day-to-day affairs of all aspects of its business, while receiving support from certain Best Buy enterprise capabilities.\nMerchandise and Services\nOur Domestic and Internati",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_cash_flow",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow 2233m",
      "golden_context": "Page 62:\n\nYear Ended December 31,\n2021 2020 2019\n(dollars in millions, except per share data)\nNet revenues $10,788 $9,437 $7,726\nBase business revenues (a) $8,018 $6,714 $7,726\nCOVID-19 testing revenues $2,770 $2,723 $—\nDIS revenues $10,494 $9,139 $7,405\nRevenue per requisition change (1.6)% 16.2% (1.3)%\nRequisition volume change 16.5% 6.6% 4.3%\nOrganic requisition volume change 13.6% 4.5% 3.1%\nDS revenues $294 $298 $321\nIncome from continuing operations attributable to\nQuest Diagnostics $1,995 $1,431 $838\nDiluted earnings per share from continuing\noperations $15.55 $10.47 $6.13\nNet cash provided by operating activities $2,233 $2,005 $1,243\n(a) Excludes COVID-19 testing.\nThe impact that the COVID-19 pandemic had on our DIS revenues, including requisition volume and revenue per\nrequisition are discussed further below under \"Impact of COVID-19\" and \"Results of Operations\".\nFor further discussion of the year-over-year changes for the year ended December 31, 2021 compared to the year\nended December 31, 2020, see \"Results of Operations\" below.\nImpact of COVID-19\nAs a novel strain of coronavirus (COVID-19) continues to impact the economy of the United States and other\ncountries around the world, we are committed to being a part of the coordinated public and private sector response to this\nunprecedented challenge. We have made substantial investments to expand and maintain the amount of COVID-19 testing\navailable to the country. We have been effectively managing challenges in the global supply chain; and, at this point, we have\nsufficient supplies to conduct our business.\nDuring 2020 and 2021, our testing volume and revenues were materially impacted by the COVID-19 pandemic.\nBeginning in March 2020, we experienced a material decline in base testing volume (which excludes COVID-19\ntesting) due to the COVID-19 pandemic. The decrease in base",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_company_type",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 2:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended December 31, 2021\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission File Number 001-12215\nQuest Diagnostics Incorporated\nDelaware 16-1387862\n(State of Incorporation) 500 Plaza Drive\nSecaucus, NJ 07094\n(973) 520-2700\n(I.R.S. Employer Identification Number)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock, $.01 par value DGX New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes X No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes No X\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days.\nYes X No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files).\nYes X No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_key_financials",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 10788m, operating cash flow 2233m",
      "golden_context": "Page 62:\n\nYear Ended December 31,\n2021 2020 2019\n(dollars in millions, except per share data)\nNet revenues $10,788 $9,437 $7,726\nBase business revenues (a) $8,018 $6,714 $7,726\nCOVID-19 testing revenues $2,770 $2,723 $—\nDIS revenues $10,494 $9,139 $7,405\nRevenue per requisition change (1.6)% 16.2% (1.3)%\nRequisition volume change 16.5% 6.6% 4.3%\nOrganic requisition volume change 13.6% 4.5% 3.1%\nDS revenues $294 $298 $321\nIncome from continuing operations attributable to\nQuest Diagnostics $1,995 $1,431 $838\nDiluted earnings per share from continuing\noperations $15.55 $10.47 $6.13\nNet cash provided by operating activities $2,233 $2,005 $1,243\n(a) Excludes COVID-19 testing.\nThe impact that the COVID-19 pandemic had on our DIS revenues, including requisition volume and revenue per\nrequisition are discussed further below under \"Impact of COVID-19\" and \"Results of Operations\".\nFor further discussion of the year-over-year changes for the year ended December 31, 2021 compared to the year\nended December 31, 2020, see \"Results of Operations\" below.\nImpact of COVID-19\nAs a novel strain of coronavirus (COVID-19) continues to impact the economy of the United States and other\ncountries around the world, we are committed to being a part of the coordinated public and private sector response to this\nunprecedented challenge. We have made substantial investments to expand and maintain the amount of COVID-19 testing\navailable to the country. We have been effectively managing challenges in the global supply chain; and, at this point, we have\nsufficient supplies to conduct our business.\nDuring 2020 and 2021, our testing volume and revenues were materially impacted by the COVID-19 pandemic.\nBeginning in March 2020, we experienced a material decline in base testing volume (which excludes COVID-19\ntesting) due to the COVID-19 pandemic. The decrease in base",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_revenue",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Net revenues 10788m",
      "golden_context": "Page 62:\n\nYear Ended December 31,\n2021 2020 2019\n(dollars in millions, except per share data)\nNet revenues $10,788 $9,437 $7,726\nBase business revenues (a) $8,018 $6,714 $7,726\nCOVID-19 testing revenues $2,770 $2,723 $—\nDIS revenues $10,494 $9,139 $7,405\nRevenue per requisition change (1.6)% 16.2% (1.3)%\nRequisition volume change 16.5% 6.6% 4.3%\nOrganic requisition volume change 13.6% 4.5% 3.1%\nDS revenues $294 $298 $321\nIncome from continuing operations attributable to\nQuest Diagnostics $1,995 $1,431 $838\nDiluted earnings per share from continuing\noperations $15.55 $10.47 $6.13\nNet cash provided by operating activities $2,233 $2,005 $1,243\n(a) Excludes COVID-19 testing.\nThe impact that the COVID-19 pandemic had on our DIS revenues, including requisition volume and revenue per\nrequisition are discussed further below under \"Impact of COVID-19\" and \"Results of Operations\".\nFor further discussion of the year-over-year changes for the year ended December 31, 2021 compared to the year\nended December 31, 2020, see \"Results of Operations\" below.\nImpact of COVID-19\nAs a novel strain of coronavirus (COVID-19) continues to impact the economy of the United States and other\ncountries around the world, we are committed to being a part of the coordinated public and private sector response to this\nunprecedented challenge. We have made substantial investments to expand and maintain the amount of COVID-19 testing\navailable to the country. We have been effectively managing challenges in the global supply chain; and, at this point, we have\nsufficient supplies to conduct our business.\nDuring 2020 and 2021, our testing volume and revenues were materially impacted by the COVID-19 pandemic.\nBeginning in March 2020, we experienced a material decline in base testing volume (which excludes COVID-19\ntesting) due to the COVID-19 pandemic. The decrease in base",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_revenue_growth",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 10788m, prior year 9437m",
      "golden_context": "Page 62:\n\nYear Ended December 31,\n2021 2020 2019\n(dollars in millions, except per share data)\nNet revenues $10,788 $9,437 $7,726\nBase business revenues (a) $8,018 $6,714 $7,726\nCOVID-19 testing revenues $2,770 $2,723 $—\nDIS revenues $10,494 $9,139 $7,405\nRevenue per requisition change (1.6)% 16.2% (1.3)%\nRequisition volume change 16.5% 6.6% 4.3%\nOrganic requisition volume change 13.6% 4.5% 3.1%\nDS revenues $294 $298 $321\nIncome from continuing operations attributable to\nQuest Diagnostics $1,995 $1,431 $838\nDiluted earnings per share from continuing\noperations $15.55 $10.47 $6.13\nNet cash provided by operating activities $2,233 $2,005 $1,243\n(a) Excludes COVID-19 testing.\nThe impact that the COVID-19 pandemic had on our DIS revenues, including requisition volume and revenue per\nrequisition are discussed further below under \"Impact of COVID-19\" and \"Results of Operations\".\nFor further discussion of the year-over-year changes for the year ended December 31, 2021 compared to the year\nended December 31, 2020, see \"Results of Operations\" below.\nImpact of COVID-19\nAs a novel strain of coronavirus (COVID-19) continues to impact the economy of the United States and other\ncountries around the world, we are committed to being a part of the coordinated public and private sector response to this\nunprecedented challenge. We have made substantial investments to expand and maintain the amount of COVID-19 testing\navailable to the country. We have been effectively managing challenges in the global supply chain; and, at this point, we have\nsufficient supplies to conduct our business.\nDuring 2020 and 2021, our testing volume and revenues were materially impacted by the COVID-19 pandemic.\nBeginning in March 2020, we experienced a material decline in base testing volume (which excludes COVID-19\ntesting) due to the COVID-19 pandemic. The decrease in base",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000332_segments",
      "report_id": "ID_000332",
      "company_name": "Quest Diagnostics",
      "year": 2021,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "The Company's DIS business is the only reportable segment. The Company is the world's leading provider of diagnostic information services.",
      "golden_context": "Page 121:\n\nNESS SEGMENT INFORMATION\nThe Company's DIS business is the only reportable segment based on the manner in which the Chief Executive\nOfficer, who is the Company's chief operating decision maker (\"CODM\"), assesses performance and allocates resources across\nthe organization. The DIS business provides diagnostic information services to a broad range of customers, including patients,\nclinicians, hospitals, IDNs, health plans, employers, ACOs, and DCEs. The Company is the world's leading provider of\ndiagnostic information services, which includes providing information and insights based on the industry-leading menu of\nroutine, non-routine and advanced clinical testing and anatomic pathology testing, and other diagnostic information services.\nThe DIS business accounted for greater than 95% of net revenues in 2021, 2020 and 2019.\nAll other operating segments include the Company's DS businesses, which consist of its risk assessment services and\nhealthcare information technology businesses. The Company's DS businesses are the leading provider of risk assessment\nservices for the life insurance industry and offer healthcare organizations and clinicians robust information technology\nsolutions.\nAs of December 31, 2021, substantially all of the Company’s services were provided within the United States, and\nsubstantially all of the Company’s assets were located within the United States.\nThe following table is a summary of segment information for the years ended December 31, 2021, 2020 and 2019.\nSegment asset information is not presented since it is not used by the CODM at the operating segment level. Operating\nearnings (loss) of each segment represents net revenues less directly identifiable expenses to arrive at operating income (loss)\nfor the segment. General corporate activities included in the table below are comprised of general management and\nadministrative corporate expenses, amortization and impairment of intangibles assets and other operating income and expenses,\nnet of certain general corporate activity costs that are allocated to the DIS and DS businesses. The accounting policies of the\nsegments are the same as those of the Company as set forth in Note 2.\n2021 2020 2019\nNet revenues:\nDIS business All other operating segments Total net revenues $ 10,494 $ 9,139 $ 7,405\n294 298 321\n$ 10,788 $ 9,437 $ 7,726\nOperating earnings (loss):\nDIS business $ 2,646 $ 2,201 $ 1,298\nAll other operating segments",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_cash_flow",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1718m, investing: -543m, -1732m",
      "golden_context": "Page 75:\n\nLiquidity and Capital Resources\n2022 2021 $ Change\nNet cash provided by operating activities Net cash (used in) provided by investing activities Net cash used in financing activities Net change in cash and cash equivalents and restricted cash (dollars in millions)\n$ 1,718 $ 2,233 $ (515)\n(543) 21 (564)\n(1,732) (2,540) 808\n$ (557) $ (286) $ (271)\nCash and Cash Equivalents\nCash and cash equivalents consist of cash and highly-liquid short-term investments. Cash and cash equivalents as of\nDecember 31, 2022 and 2021 totaled $315 million and $872 million, respectively.\nAs of December 31, 2022, approximately 10% of our $315 million of consolidated cash and cash equivalents were\nheld outside of the United States.\nCash Flows from Operating Activities\nNet cash provided by operating activities for the year ended December 31, 2022 was $1,718 million, and decreased\n$515 million compared to the prior year primarily as a result of:\n• lower operating income in 2022 as compared to 2021; partially offset by\n• a $426 million decrease in income tax payments in 2022 as compared to 2021.\nDays sales outstanding (\"DSO\"), a measure of billing and collection efficiency, was 47 days as of December 31, 2022\nand 48 days as of December 31, 2021.\nCash Flows from Investing Activities\nNet cash used in investing activities for the year ended December 31, 2022 was $543 million, compared to net cash\nprovided by investing activities of $21 million for the year ended December 31, 2021. This $564 million change in cash (used\nin) provided by investing activities was primarily a result of $755 million of net cash proceeds received in 2021 from the sale of\nour 40% ownership interest in Q2 Solutions, partially offset by a $187 million decrease in net cash paid for acquisitions.\nCash Flows from Financing Activities",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_company_type",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 2:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended December 31, 2022\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission File Number 001-12215\nQuest Diagnostics Incorporated\nDelaware 16-1387862\n(State of Incorporation) 500 Plaza Drive\nSecaucus, NJ 07094\n(973) 520-2700\n(I.R.S. Employer Identification Number)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock, $.01 par value DGX New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes X No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes No X\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days.\nYes X No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files).\nYes X No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_key_financials",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "revenues 9883m, operating income 1428m, net income attributable to Quest Diagnostics 946m",
      "golden_context": "Page 69:\n\npaired.\nResults of Operations\nFor a comparison of results of operations for the year ended December 31, 2021 compared to December 31, 2020,\nalong with the results of operations for the year ended December 31, 2020, see \"Item 7 - Management's Discussion and\nAnalysis of Financial Condition and Result of Operations\" of our Annual Report on Form 10-K for the year ended\nDecember 31, 2021. See \"Available Information.\"\nBasis of Presentation\nOur DIS business currently represents our one reportable business segment. The DIS business for the years ended\nDecember 31, 2022 and 2021 accounted for greater than 95% of our consolidated net revenues. Our other operating segments\nconsist of our DS businesses. For further details regarding our business segment information, see Note 20 to the audited\nconsolidated financial statements.\nResults of Operations\nThe following table sets forth certain results of operations data for the periods presented:\n2022 2021 $ Change % Change\n(dollars in millions, except per share data)\nNet revenues:\nDIS business DS businesses Total net revenues $ 9,609 $ 10,494 $ (885) (8.4) %\n274 294 (20) (7.0)\n$ 9,883 $ 10,788 $ (905) (8.4) %\nOperating costs and expenses and other operating income:\nCost of services $ 6,450 $ 6,579 $ (129) (2.0) %\nSelling, general and administrative 1,874 1,727 147 8.5\nAmortization of intangible assets 120 103 17 15.6\nOther operating expense (income), net 11 (2) 13 NM\nTotal operating costs and expenses, net Operating income $ 8,455 $ 8,407 $ 48 0.6 %\n$ 1,428 $ 2,381 $ (953) (40.0) %\n65\nTable of Contents\n$ (138) $ (151) $ 13 (8.6) %\n(55) 369 (424) NM\n$ (193) $ 218 $ (411) NM\nOther income (expense):\nInterest expense, net Other (expense) income, net Total non-operating (expense) income, net Income tax expense Effective income tax rate $ (264) $ (597) $ 333 (55.8) %\n21.4 % 23.0 %\nEquity in earnings of equity method investees, net of taxes $ 44 $ 78 $ (34) (44.7) %\nNet income attributable to Quest Diagnostics $ 946 $ 1,995 $ (1,049) (52.6) %\nDiluted earnings per share attributable to Quest Diagnostics’\ncommon stockholders $ 7.97 $ 15.55 $ (7.58) (48.7) %\nNM - Not Meaningful\nThe following table sets forth certain results of operations data as a percentage of net revenues for the periods\npresented:\n2022 2021\nNet revenues:\nDIS business Total net revenues 97.2 % 97.3 %\nDS businesses 2.8 2.7\n100.0 % 100.0 %\n65.3 % 61.0 %\n19.0 16.0\n1.1 1.0\n0.1 (0.1)\n85.5 % 77.9 %\nOperating costs and expenses and other operating ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_revenue",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "revenues 9883m",
      "golden_context": "Page 69:\n\npaired.\nResults of Operations\nFor a comparison of results of operations for the year ended December 31, 2021 compared to December 31, 2020,\nalong with the results of operations for the year ended December 31, 2020, see \"Item 7 - Management's Discussion and\nAnalysis of Financial Condition and Result of Operations\" of our Annual Report on Form 10-K for the year ended\nDecember 31, 2021. See \"Available Information.\"\nBasis of Presentation\nOur DIS business currently represents our one reportable business segment. The DIS business for the years ended\nDecember 31, 2022 and 2021 accounted for greater than 95% of our consolidated net revenues. Our other operating segments\nconsist of our DS businesses. For further details regarding our business segment information, see Note 20 to the audited\nconsolidated financial statements.\nResults of Operations\nThe following table sets forth certain results of operations data for the periods presented:\n2022 2021 $ Change % Change\n(dollars in millions, except per share data)\nNet revenues:\nDIS business DS businesses Total net revenues $ 9,609 $ 10,494 $ (885) (8.4) %\n274 294 (20) (7.0)\n$ 9,883 $ 10,788 $ (905) (8.4) %\nOperating costs and expenses and other operating income:\nCost of services $ 6,450 $ 6,579 $ (129) (2.0) %\nSelling, general and administrative 1,874 1,727 147 8.5\nAmortization of intangible assets 120 103 17 15.6\nOther operating expense (income), net 11 (2) 13 NM\nTotal operating costs and expenses, net Operating income $ 8,455 $ 8,407 $ 48 0.6 %\n$ 1,428 $ 2,381 $ (953) (40.0) %\n65\nTable of Contents\n$ (138) $ (151) $ 13 (8.6) %\n(55) 369 (424) NM\n$ (193) $ 218 $ (411) NM\nOther income (expense):\nInterest expense, net Other (expense) income, net Total non-operating (expense) income, net Income tax expense Effective income tax rate $ (264) $ (597) $ 333 (55.8) %\n21.4 % 23.0 %\nEquity in earnings of equity method investees, net of taxes $ 44 $ 78 $ (34) (44.7) %\nNet income attributable to Quest Diagnostics $ 946 $ 1,995 $ (1,049) (52.6) %\nDiluted earnings per share attributable to Quest Diagnostics’\ncommon stockholders $ 7.97 $ 15.55 $ (7.58) (48.7) %\nNM - Not Meaningful\nThe following table sets forth certain results of operations data as a percentage of net revenues for the periods\npresented:\n2022 2021\nNet revenues:\nDIS business Total net revenues 97.2 % 97.3 %\nDS businesses 2.8 2.7\n100.0 % 100.0 %\n65.3 % 61.0 %\n19.0 16.0\n1.1 1.0\n0.1 (0.1)\n85.5 % 77.9 %\nOperating costs and expenses and other operating ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_revenue_growth",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 9883m, prior year 10494m",
      "golden_context": "Page 69:\n\npaired.\nResults of Operations\nFor a comparison of results of operations for the year ended December 31, 2021 compared to December 31, 2020,\nalong with the results of operations for the year ended December 31, 2020, see \"Item 7 - Management's Discussion and\nAnalysis of Financial Condition and Result of Operations\" of our Annual Report on Form 10-K for the year ended\nDecember 31, 2021. See \"Available Information.\"\nBasis of Presentation\nOur DIS business currently represents our one reportable business segment. The DIS business for the years ended\nDecember 31, 2022 and 2021 accounted for greater than 95% of our consolidated net revenues. Our other operating segments\nconsist of our DS businesses. For further details regarding our business segment information, see Note 20 to the audited\nconsolidated financial statements.\nResults of Operations\nThe following table sets forth certain results of operations data for the periods presented:\n2022 2021 $ Change % Change\n(dollars in millions, except per share data)\nNet revenues:\nDIS business DS businesses Total net revenues $ 9,609 $ 10,494 $ (885) (8.4) %\n274 294 (20) (7.0)\n$ 9,883 $ 10,788 $ (905) (8.4) %\nOperating costs and expenses and other operating income:\nCost of services $ 6,450 $ 6,579 $ (129) (2.0) %\nSelling, general and administrative 1,874 1,727 147 8.5\nAmortization of intangible assets 120 103 17 15.6\nOther operating expense (income), net 11 (2) 13 NM\nTotal operating costs and expenses, net Operating income $ 8,455 $ 8,407 $ 48 0.6 %\n$ 1,428 $ 2,381 $ (953) (40.0) %\n65\nTable of Contents\n$ (138) $ (151) $ 13 (8.6) %\n(55) 369 (424) NM\n$ (193) $ 218 $ (411) NM\nOther income (expense):\nInterest expense, net Other (expense) income, net Total non-operating (expense) income, net Income tax expense Effective income tax rate $ (264) $ (597) $ 333 (55.8) %\n21.4 % 23.0 %\nEquity in earnings of equity method investees, net of taxes $ 44 $ 78 $ (34) (44.7) %\nNet income attributable to Quest Diagnostics $ 946 $ 1,995 $ (1,049) (52.6) %\nDiluted earnings per share attributable to Quest Diagnostics’\ncommon stockholders $ 7.97 $ 15.55 $ (7.58) (48.7) %\nNM - Not Meaningful\nThe following table sets forth certain results of operations data as a percentage of net revenues for the periods\npresented:\n2022 2021\nNet revenues:\nDIS business Total net revenues 97.2 % 97.3 %\nDS businesses 2.8 2.7\n100.0 % 100.0 %\n65.3 % 61.0 %\n19.0 16.0\n1.1 1.0\n0.1 (0.1)\n85.5 % 77.9 %\nOperating costs and expenses and other operating ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000333_segments",
      "report_id": "ID_000333",
      "company_name": "Quest Diagnostics",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "The Company's DIS business is the only reportable segment The Company is the world's leading provider of diagnostic information services",
      "golden_context": "Page 121:\n\ner, the Company is essentially self-insured for a significant portion of these claims. Reserves for such\nmatters, including those associated with both asserted and incurred but not reported claims, are established on an undiscounted\nbasis by considering actuarially determined losses based upon the Company's historical and projected loss experience. Such\nreserves totaled $169 million and $159 million as of December 31, 2022 and December 31, 2021, respectively. Management\nbelieves that established reserves and present insurance coverage are sufficient to cover currently estimated exposures.\n20. BUSINESS SEGMENT INFORMATION\nThe Company's DIS business is the only reportable segment based on the manner in which the Chief Executive\nOfficer, who is the Company's chief operating decision maker (\"CODM\"), assesses performance and allocates resources across\nthe organization. The DIS business provides diagnostic information services to a broad range of customers, including patients,\nclinicians, hospitals, IDNs, health plans, employers, consumers, and ACOs. The Company is the world's leading provider of\ndiagnostic information services, which includes providing information and insights based on an industry-leading menu of\nroutine, non-routine and advanced clinical testing and anatomic pathology testing, and other diagnostic information services.\nThe DIS business accounted for greater than 95% of net revenues in 2022, 2021 and 2020.\nAll other operating segments include the Company's DS businesses, which consist of its risk assessment services and\nhealthcare information technology businesses. The Company's DS businesses are the leading provider of risk assessment\nservices for the life insurance industry and offer healthcare organizations and clinicians robust information technology\nsolutions.\nAs of December 31, 2022, substantially all of the Company’s services were provided within the United States, and\nsubstantially all o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_cash_flow",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1272m, investing: -1061m, financing: 160m",
      "golden_context": "Page 83:\n\nQUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nFOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021\n(in millions)\n2023 2022 2021\n$ 908 $ 1,015 $ 2,080\nCash flows from operating activities:\nNet income Adjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 439 437 408\nProvision for credit losses 1 3 4\nDeferred income tax (benefit) provision (49) 1 (57)\nStock-based compensation expense 77 77 79\nGain on disposition of joint venture — — (314)\nOther, net 41 66 (54)\nChanges in operating assets and liabilities:\nAccounts receivable (15) 246 81\nAccounts payable and accrued expenses (55) (149) 35\nIncome taxes payable (2) (31) (20)\nOther assets and liabilities, net (73) 53 (9)\nNet cash provided by operating activities 1,272 1,718 2,233\nCash flows from investing activities:\nBusiness acquisitions, net of cash acquired (611) (144) (331)\nProceeds from disposition of joint venture — — 755\nCapital expenditures (408) (404) (403)\n(Increase) decrease in investments and other assets, net (42) 5 —\nNet cash (used in) provided by investing activities (1,061) (543) 21\nCash flows from financing activities:\nProceeds from borrowings 2,592 — —\nRepayments of debt (1,844) (2) (2)\nPurchases of treasury stock (275) (1,408) (2,199)\nExercise of stock options 72 123 129\nEmployee payroll tax withholdings on stock issued under stock-based compensation\nplans (28) (28) (22)\nDividends paid (314) (305) (309)\nDistributions to noncontrolling interest partners (57) (73) (99)\nOther financing activities, net 14 (39) (38)\nNet cash provided by (used in) financing activities 160 (1,732) (2,540)\nNet change in cash and cash equivalents and restricted cash 371 (557) (286)\nCash and cash equivalents and restricted cash, beginning of year 315 872 1,158\nCash and cash equivalents and restricted cash, end of year $ 686 $ 315 $ 872",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_company_type",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 2:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, DC 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year Ended December 31, 2023\nOr\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to __________\nCommission File Number 001-12215\nQuest Diagnostics Incorporated\nDelaware 16-1387862\n(State of Incorporation) 500 Plaza Drive\nSecaucus, NJ 07094\n(973) 520-2700\n(I.R.S. Employer Identification Number)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock, $.01 par value DGX New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes X No\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes No X\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days.\nYes X No\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files).\nYes X No\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_key_financials",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net revenues 9252m, operating income 1262m, net income 908m, earnings per share attributable to Quest Diagnostics' common stockholders basic 7.59",
      "golden_context": "Page 81:\n\nQUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021\n(in millions, except per share data)\n2023 2022 2021\nNet revenues $ 9,252 $ 9,883 $ 10,788\nOperating costs and expenses and other operating income:\nCost of services 6,199 6,450 6,579\nSelling, general and administrative 1,642 1,874 1,727\nAmortization of intangible assets 108 120 103\nOther operating expense (income), net 41 11 (2)\nTotal operating costs and expenses, net 7,990 8,455 8,407\nOperating income 1,262 1,428 2,381\nOther income (expense):\nInterest expense, net Other income (expense), net Total non-operating (expense) income, net (132) (193) 218\n(152) (138) (151)\n20 (55) 369\nIncome before income taxes and equity in earnings of equity method\ninvestees 1,130 1,235 2,599\nIncome tax expense (248) (264) (597)\nEquity in earnings of equity method investees, net of taxes 26 44 78\nNet income 908 1,015 2,080\nLess: Net income attributable to noncontrolling interests 54 69 85\nNet income attributable to Quest Diagnostics $ 854 $ 946 $ 1,995\nEarnings per share attributable to Quest Diagnostics’ common\nstockholders:\nBasic Diluted $ 7.59 $ 8.10 $ 15.85\n$ 7.49 $ 7.97 $ 15.55",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_revenue",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Net revenues 9252m",
      "golden_context": "Page 81:\n\nQUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021\n(in millions, except per share data)\n2023 2022 2021\nNet revenues $ 9,252 $ 9,883 $ 10,788\nOperating costs and expenses and other operating income:\nCost of services 6,199 6,450 6,579\nSelling, general and administrative 1,642 1,874 1,727\nAmortization of intangible assets 108 120 103\nOther operating expense (income), net 41 11 (2)\nTotal operating costs and expenses, net 7,990 8,455 8,407\nOperating income 1,262 1,428 2,381\nOther income (expense):\nInterest expense, net Other income (expense), net Total non-operating (expense) income, net (132) (193) 218\n(152) (138) (151)\n20 (55) 369\nIncome before income taxes and equity in earnings of equity method\ninvestees 1,130 1,235 2,599\nIncome tax expense (248) (264) (597)\nEquity in earnings of equity method investees, net of taxes 26 44 78\nNet income 908 1,015 2,080\nLess: Net income attributable to noncontrolling interests 54 69 85\nNet income attributable to Quest Diagnostics $ 854 $ 946 $ 1,995\nEarnings per share attributable to Quest Diagnostics’ common\nstockholders:\nBasic Diluted $ 7.59 $ 8.10 $ 15.85\n$ 7.49 $ 7.97 $ 15.55",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_revenue_growth",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues 9252m, prior year 9883m",
      "golden_context": "Page 81:\n\nQUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nFOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021\n(in millions, except per share data)\n2023 2022 2021\nNet revenues $ 9,252 $ 9,883 $ 10,788\nOperating costs and expenses and other operating income:\nCost of services 6,199 6,450 6,579\nSelling, general and administrative 1,642 1,874 1,727\nAmortization of intangible assets 108 120 103\nOther operating expense (income), net 41 11 (2)\nTotal operating costs and expenses, net 7,990 8,455 8,407\nOperating income 1,262 1,428 2,381\nOther income (expense):\nInterest expense, net Other income (expense), net Total non-operating (expense) income, net (132) (193) 218\n(152) (138) (151)\n20 (55) 369\nIncome before income taxes and equity in earnings of equity method\ninvestees 1,130 1,235 2,599\nIncome tax expense (248) (264) (597)\nEquity in earnings of equity method investees, net of taxes 26 44 78\nNet income 908 1,015 2,080\nLess: Net income attributable to noncontrolling interests 54 69 85\nNet income attributable to Quest Diagnostics $ 854 $ 946 $ 1,995\nEarnings per share attributable to Quest Diagnostics’ common\nstockholders:\nBasic Diluted $ 7.59 $ 8.10 $ 15.85\n$ 7.49 $ 7.97 $ 15.55",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000334_segments",
      "report_id": "ID_000334",
      "company_name": "Quest Diagnostics",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "The Company's DIS business is the only reportable segment \nThe DIS business provides diagnostic information services to a broad range of customers within its primary customer channels - physicians,\nhospitals, and patients and consumers\nAll other operating segments include the Company's DS businesses, which consist of its risk assessment services and healthcare information technology businesses",
      "golden_context": "Page 120:\n\nther exposures. The Company's insurance coverage limits its maximum exposure on\nindividual claims; however, the Company is essentially self-insured for a significant portion of these claims. Reserves for such\nmatters, including those associated with both asserted and incurred but not reported claims, are established on an undiscounted\nbasis by considering actuarially determined losses based upon the Company's historical and projected loss experience. Such\nreserves totaled $173 million and $169 million as of December 31, 2023 and December 31, 2022, respectively. Management\nbelieves that established reserves and present insurance coverage are sufficient to cover currently estimated exposures.\n20. BUSINESS SEGMENT INFORMATION\nThe Company's DIS business is the only reportable segment based on the manner in which the Chief Executive\nOfficer, who is the Company's CODM, assesses performance and allocates resources across the organization. The DIS business\nprovides diagnostic information services to a broad range of customers within its primary customer channels - physicians,\nhospitals, and patients and consumers. The DIS business accounted for greater than 95% of net revenues in 2023, 2022 and\n2021.\nAll other operating segments include the Company's DS businesses, which consist of its risk assessment services and\nhealthcare information technology businesses. The Company's DS businesses offer solutions for insurers and offer solutions for\nhealthcare providers and payers.\nAs of December 31, 2023, substantially all of the Company’s services were provided within the United States, and\nsubstantially all of the Company’s assets were located within the United States.\nF-43\nTable of Contents\nQUEST DIAG",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_cash_flow",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3840m, \ninvesting: 58m, \nfinancing: -2731m",
      "golden_context": "Page 48:\n\nTYSON FOODS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nThree years ended October 2, 2021\nin millions\n2021 2020 2019\nCash Flows From Operating Activities:\nNet income $ 3,060 $ 2,071 $ 1,993\nAdjustments to reconcile net income to cash provided by operating activities:\nDepreciation 934 900 819\nAmortization 280 292 279\nDeferred income taxes (125) 18 77\nGain on dispositions of businesses (784) — (17)\nImpairment of assets 60 48 94\nStock-based compensation expense 91 89 77\nOther, net (57) (124) (20)\n(Increase) decrease in accounts receivable (508) 191 (226)\n(Increase) decrease in inventories (567) 86 (157)\nIncrease (decrease) in accounts payable 351 (64) (55)\nIncrease (decrease) in income taxes payable/receivable 421 62 (254)\nIncrease (decrease) in interest payable (5) (41) 47\nNet changes in other operating assets and liabilities 689 346 (144)\nCash Provided by Operating Activities 3,840 3,874 2,513\nCash Flows From Investing Activities:\nAdditions to property, plant and equipment (1,209) (1,199) (1,259)\nPurchases of marketable securities (72) (105) (64)\nProceeds from sale of marketable securities 70 87 63\nAcquisitions, net of cash acquired — — (2,462)\nProceeds from sale of businesses 1,188 29 170\nAcquisition of equity investments (44) (183) —\nOther, net 125 (52) 88\nCash Provided by (Used for) Investing Activities 58 (1,423) (3,464)\nCash Flows From Financing Activities:\nProceeds from issuance of debt 585 1,609 4,634\nPayments on debt (2,632) (1,212) (3,208)\nBorrowings on revolving credit facility — 1,210 1,135\nProceeds from issuance of commercial paper — 14,272 17,722\nPayments on revolving credit facility — (1,280) (17,327)\nRepayments of commercial paper (1,065)\n— (15,271) Purchases of Tyson Class A common stock (67) (207) (252)\nDividends (636) (601) (537)\nStock options exercised 41 30 99\nOther, net (22) (18) (30)\nCash Provided by (Used for) Financing Activities (2,731) (1,468) 1,171\nEffect of Exchange Rate Change on Cash 4 (1) (6)\nIncrease in Cash and Cash Equivalents and Restricted Cash 1,171 982 214\nCash and Cash Equivalents and Restricted Cash at Beginning of Year 1,466 484 270\nCash and Cash Equivalents and Restricted Cash at End of Year 2,637 1,466 484\nLess: Restricted Cash at End of Year 130 46 —\nCash and Cash Equivalents at End of Year $ 2,507 $ 1,420 $ 484\nSee accompanying Notes to Consolidated Financial Statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_company_type",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended October 2, 2021\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\n001-14704\n(Commission File Number)\n______________________________________________\nTYSON FOODS, INC.\n(Exact name of registrant as specified in its charter)\n______________________________________________\nDelaware 71-0225165\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n2200 West Don Tyson Parkway,\nSpringdale, Arkansas 72762-6999\n(Address of principal executive offices) (Zip Code)\n(479) 290-4000\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock Par Value $0.10 Trading Symbol TSN Securities Registered Pursuant to Section 12(g) of the Act: Not Applicable\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be subm",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_key_financials",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "net income 3060m",
      "golden_context": "Page 48:\n\nTYSON FOODS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nThree years ended October 2, 2021\nin millions\n2021 2020 2019\nCash Flows From Operating Activities:\nNet income $ 3,060 $ 2,071 $ 1,993\nAdjustments to reconcile net income to cash provided by operating activities:\nDepreciation 934 900 819\nAmortization 280 292 279\nDeferred income taxes (125) 18 77\nGain on dispositions of businesses (784) — (17)\nImpairment of assets 60 48 94\nStock-based compensation expense 91 89 77\nOther, net (57) (124) (20)\n(Increase) decrease in accounts receivable (508) 191 (226)\n(Increase) decrease in inventories (567) 86 (157)\nIncrease (decrease) in accounts payable 351 (64) (55)\nIncrease (decrease) in income taxes payable/receivable 421 62 (254)\nIncrease (decrease) in interest payable (5) (41) 47\nNet changes in other operating assets and liabilities 689 346 (144)\nCash Provided by Operating Activities 3,840 3,874 2,513\nCash Flows From Investing Activities:\nAdditions to property, plant and equipment (1,209) (1,199) (1,259)\nPurchases of marketable securities (72) (105) (64)\nProceeds from sale of marketable securities 70 87 63\nAcquisitions, net of cash acquired — — (2,462)\nProceeds from sale of businesses 1,188 29 170\nAcquisition of equity investments (44) (183) —\nOther, net 125 (52) 88\nCash Provided by (Used for) Investing Activities 58 (1,423) (3,464)\nCash Flows From Financing Activities:\nProceeds from issuance of debt 585 1,609 4,634\nPayments on debt (2,632) (1,212) (3,208)\nBorrowings on revolving credit facility — 1,210 1,135\nProceeds from issuance of commercial paper — 14,272 17,722\nPayments on revolving credit facility — (1,280) (17,327)\nRepayments of commercial paper (1,065)\n— (15,271) Purchases of Tyson Class A common stock (67) (207) (252)\nDividends (636) (601) (537)\nStock options exercised 41 30 99\nOther, net (22) (18) (30)\nCash Provided by (Used for) Financing Activities (2,731) (1,468) 1,171\nEffect of Exchange Rate Change on Cash 4 (1) (6)\nIncrease in Cash and Cash Equivalents and Restricted Cash 1,171 982 214\nCash and Cash Equivalents and Restricted Cash at Beginning of Year 1,466 484 270\nCash and Cash Equivalents and Restricted Cash at End of Year 2,637 1,466 484\nLess: Restricted Cash at End of Year 130 46 —\nCash and Cash Equivalents at End of Year $ 2,507 $ 1,420 $ 484\nSee accompanying Notes to Consolidated Financial Statements",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_revenue",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "47049m",
      "golden_context": "Page 27:\n\non $ 3,047 $ 2,061\nNet income attributable to Tyson - per diluted share 8.34 5.64\n2021 – Included the following items:\n• $626 million pretax, or ($1.31) per diluted share, related to the recognition of legal contingency accruals.\n• $784 million pretax, or $1.40 per diluted share, related to the gain on the sale of our pet treats business.\n• $34 million pretax, or $0.07 per diluted share, from a defined benefit plan gain.\n• $17 million pretax, or ($0.04) per diluted share, of production facilities fire costs, net of insurance proceeds.\n• $27 million pretax, or ($0.06) per diluted share, related to the relocation of a production facility in China.\n2020 – Included the following items:\n• $75 million pretax, or ($0.16) per diluted share, of restructuring and related charges.\n• $65 million pretax, or $0.14 per diluted share, related to the additional week in fiscal 2020.\n• $116 million pretax, or $0.24 per diluted share, due to gain from pension plan terminations.\nSUMMARY OF RESULTS\nSales in millions\n2021 2020 2019\nSales $ 47,049 $ 43,185 $ 42,405\nChange in sales volume (2.8) % 0.7 %\nChange in average sales price 13.0 % 1.1 %\nSales growth 8.9 % 1.8 %\n2021 vs. 2020 –\n• Sales Volume – Sales were negatively impacted by a decrease in sales volume across each of our segments, which accounted\nfor a decrease of $1,190 million, due in part to the impacts of a challenging labor environment as well as the impact of an\nadditional week in fiscal 2020.\n• Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of\n$5,599 million. The increase in average sales price was primarily attributable to favorable product mix and the pass through\nof increased raw material costs.\n• The above change in average sales price for fiscal 2021 excludes a $545 million reduction of Sales from the recognition of\nlegal contingency accruals.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_revenue_growth",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "8.9% growth",
      "golden_context": "Page 27:\n\non $ 3,047 $ 2,061\nNet income attributable to Tyson - per diluted share 8.34 5.64\n2021 – Included the following items:\n• $626 million pretax, or ($1.31) per diluted share, related to the recognition of legal contingency accruals.\n• $784 million pretax, or $1.40 per diluted share, related to the gain on the sale of our pet treats business.\n• $34 million pretax, or $0.07 per diluted share, from a defined benefit plan gain.\n• $17 million pretax, or ($0.04) per diluted share, of production facilities fire costs, net of insurance proceeds.\n• $27 million pretax, or ($0.06) per diluted share, related to the relocation of a production facility in China.\n2020 – Included the following items:\n• $75 million pretax, or ($0.16) per diluted share, of restructuring and related charges.\n• $65 million pretax, or $0.14 per diluted share, related to the additional week in fiscal 2020.\n• $116 million pretax, or $0.24 per diluted share, due to gain from pension plan terminations.\nSUMMARY OF RESULTS\nSales in millions\n2021 2020 2019\nSales $ 47,049 $ 43,185 $ 42,405\nChange in sales volume (2.8) % 0.7 %\nChange in average sales price 13.0 % 1.1 %\nSales growth 8.9 % 1.8 %\n2021 vs. 2020 –\n• Sales Volume – Sales were negatively impacted by a decrease in sales volume across each of our segments, which accounted\nfor a decrease of $1,190 million, due in part to the impacts of a challenging labor environment as well as the impact of an\nadditional week in fiscal 2020.\n• Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of\n$5,599 million. The increase in average sales price was primarily attributable to favorable product mix and the pass through\nof increased raw material costs.\n• The above change in average sales price for fiscal 2021 excludes a $545 million reduction of Sales from the recognition of\nlegal contingency accruals.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000335_segments",
      "report_id": "ID_000335",
      "company_name": "Tyson Foods",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beef, Pork, Chicken and Prepared Foods",
      "golden_context": "Page 3:\n\nr their distributors, live markets, international export companies and domestic\ndistributors who serve restaurants, foodservice operations such as plant and school cafeterias, convenience stores, hospitals and other\nvendors. Additionally, sales to the military and a portion of sales to international markets are made through independent brokers and\ntrading companies.\nAs part of our commitment to innovation and growth, we have a subsidiary focused on investing in companies developing\nbreakthrough technologies, business models and products to sustainably feed a growing world population. Tyson New Ventures, LLC\nis used to broaden our exposure to innovative, new forms of protein and ways of sustainably producing food to complement the\nCompany's continuing investments in innovation in our core Beef, Pork, Chicken and Prepared Foods businesses.\nFINANCIAL INFORMATION OF SEGMENTS\nWe operate in four reportable segments: Beef, Pork, Chicken and Prepared Foods. International/Other primarily includes our foreign\noperations in Australia, China, Malaysia, Mexico, the Netherlands, South Korea and Thailand, third-party merger and integration costs\nand corporate overhead related to Tyson New Ventures, LLC. The contribution of each segment to net sales and operating income\n(loss), and the identifiable assets attributable to each segment, are set forth in Part II, Item 8, Notes to Consolidated Financial\nStatements, Note 18: Segment Reporting.\nDESCRIPTION OF SEGMENTS\nBeef\nBeef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal\nmeat cuts and case-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators,\nhotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food\nprocessors, as well as to international export markets. This segment also includes sales from specialty products such as hides and\nvariety meats, as well as logistics operations to move products through the supply chain.\nPork\nPork includes our operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and\ncase-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains\nand noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as\nto international export markets. This segment also includes our live swine group, related specialty product processing activities and\nlogistics operations to move products through the supply chain.\n2\nChicken\nChicken includes our domestic operations",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_cash_flow",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating:  2'687m, \ninvesting:  -1'935m, \nfinancing:  -2'323m",
      "golden_context": "Page 50:\n\nTYSON FOODS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nThree years ended October 1, 2022\nin millions\n2022 2021 2020\nCash Flows From Operating Activities:\nNet income $ 3,249 $ 3,060 $ 2,071\nAdjustments to reconcile net income to cash provided by operating activities:\nDepreciation 945 934 900\nAmortization 257 280 292\nDeferred income taxes 264 (125) 18\nGain on disposition of business — (784) —\nImpairment of assets 34 60 48\nStock-based compensation expense 93 91 89\nOther, net (51) (57) (124)\n(Increase) decrease in accounts receivable (176) (508) 191\n(Increase) decrease in inventories (1,195) (567) 86\nIncrease (decrease) in accounts payable 302 351 (64)\nIncrease (decrease) in income taxes payable/receivable (580) 421 62\nIncrease (decrease) in interest payable (13) (5) (41)\nNet changes in other operating assets and liabilities (442) 689 346\nCash Provided by Operating Activities 2,687 3,840 3,874\nCash Flows From Investing Activities:\nAdditions to property, plant and equipment (1,887) (1,209) (1,199)\nPurchases of marketable securities (35) (72) (105)\nProceeds from sale of marketable securities 34 70 87\nProceeds from sale of businesses — 1,188 29\nAcquisition of equity investments (177) (44) (183)\nOther, net 130 125 (52)\nCash Provided by (Used for) Investing Activities (1,935) 58 (1,423)\nCash Flows From Financing Activities:\nProceeds from issuance of debt 103 585 1,609\nPayments on debt (1,191) (2,632) (1,212)\nBorrowings on revolving credit facility — — 1,210\nPayments on revolving credit facility — — (1,280)\nProceeds from issuance of commercial paper — — 14,272\nRepayments of commercial paper — — (15,271)\nPurchases of Tyson Class A common stock (702) (67) (207)\nDividends (653) (636) (601)\nStock options exercised 126 41 30\nOther, net (6) (22) (18)\nCash Used for Financing Activities (2,323) (2,731) (1,468)\nEffect of Exchange Rate Change on Cash (35) 4 (1)\n(Decrease) Increase in Cash and Cash Equivalents and Restricted Cash (1,606) 1,171 982\nCash and Cash Equivalents and Restricted Cash at Beginning of Year 2,637 1,466 484\nCash and Cash Equivalents and Restricted Cash at End of Year 1,031 2,637 1,466\nLess: Restricted Cash at End of Year — 130 46\nCash and Cash Equivalents at End of Year $ 1,031 $ 2,507 $ 1,420\nSee accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_company_type",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended October 1, 2022\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\n001-14704\n(Commission File Number)\n______________________________________________\nTYSON FOODS, INC.\n(Exact name of registrant as specified in its charter)\n______________________________________________\nDelaware 71-0225165\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n2200 West Don Tyson Parkway,\nSpringdale, Arkansas 72762-6999\n(Address of principal executive offices) (Zip Code)\n(479) 290-4000\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Class A Common Stock Par Value $0.10 Trading Symbol TSN Securities Registered Pursuant to Section 12(g) of the Act: Not Applicable\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such short",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_key_financials",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Sales 53282m, sales growth 13.2%",
      "golden_context": "Page 27:\n\nelated charges, pretax $ 66\nin millions\nTotal estimated\n2022 charges Estimated future charges 2022 Program charges\nBeef $ 16 $ 58 $ 74\nPork 5 25 30\nChicken 6 2 8\nPrepared Foods 36 135 171\nInternational/Other 3 7 10\nTotal Restructuring and related charges, pretax $ 66 $ 227 $ 293\nSUMMARY OF RESULTS\nSales in millions\n2022 2021 2020\nSales $ 53,282 $ 47,049 $ 43,185\nChange in sales volume (0.3) % (2.8) %\nChange in average sales price 12.3 % 13.0 %\nSales growth 13.2 % 8.9 %\n26\n2022 vs. 2021 –\n• Sales Volume – Sales were negatively impacted by a decrease in sales volume, which accounted for a decrease of $121\nmillion, driven by decreased volumes in our Pork and Prepared Foods segments and impacts associated with the challenging\nlabor environment and continued supply chain constraints, partially offset by an increase in sales volume in our Chicken\nsegment.\n• Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of\n$5,809 million. The incr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_revenue",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Sales 53282m",
      "golden_context": "Page 27:\n\nelated charges, pretax $ 66\nin millions\nTotal estimated\n2022 charges Estimated future charges 2022 Program charges\nBeef $ 16 $ 58 $ 74\nPork 5 25 30\nChicken 6 2 8\nPrepared Foods 36 135 171\nInternational/Other 3 7 10\nTotal Restructuring and related charges, pretax $ 66 $ 227 $ 293\nSUMMARY OF RESULTS\nSales in millions\n2022 2021 2020\nSales $ 53,282 $ 47,049 $ 43,185\nChange in sales volume (0.3) % (2.8) %\nChange in average sales price 12.3 % 13.0 %\nSales growth 13.2 % 8.9 %\n26\n2022 vs. 2021 –\n• Sales Volume – Sales were negatively impacted by a decrease in sales volume, which accounted for a decrease of $121\nmillion, driven by decreased volumes in our Pork and Prepared Foods segments and impacts associated with the challenging\nlabor environment and continued supply chain constraints, partially offset by an increase in sales volume in our Chicken\nsegment.\n• Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of\n$5,809 million. The incr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_revenue_growth",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "sales growth 13.2%",
      "golden_context": "Page 27:\n\nelated charges, pretax $ 66\nin millions\nTotal estimated\n2022 charges Estimated future charges 2022 Program charges\nBeef $ 16 $ 58 $ 74\nPork 5 25 30\nChicken 6 2 8\nPrepared Foods 36 135 171\nInternational/Other 3 7 10\nTotal Restructuring and related charges, pretax $ 66 $ 227 $ 293\nSUMMARY OF RESULTS\nSales in millions\n2022 2021 2020\nSales $ 53,282 $ 47,049 $ 43,185\nChange in sales volume (0.3) % (2.8) %\nChange in average sales price 12.3 % 13.0 %\nSales growth 13.2 % 8.9 %\n26\n2022 vs. 2021 –\n• Sales Volume – Sales were negatively impacted by a decrease in sales volume, which accounted for a decrease of $121\nmillion, driven by decreased volumes in our Pork and Prepared Foods segments and impacts associated with the challenging\nlabor environment and continued supply chain constraints, partially offset by an increase in sales volume in our Chicken\nsegment.\n• Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of\n$5,809 million. The incr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000336_segments",
      "report_id": "ID_000336",
      "company_name": "Tyson Foods",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beef, Pork, Chicken and Prepared Foods",
      "golden_context": "Page 3:\n\nsors and others.\nWe produce a wide range of fresh, value-added, frozen and refrigerated food products. Our products are marketed and sold primarily\nby our sales staff to grocery retailers, grocery wholesalers, meat distributors, warehouse club stores, military commissaries, industrial\nfood processing companies, chain restaurants or their distributors, live markets, international export companies and domestic\ndistributors who serve restaurants, foodservice operations such as plant and school cafeterias, convenience stores, hospitals and other\nvendors. Additionally, sales to the military and a portion of sales to international markets are made through independent brokers and\ntrading companies.\nAs part of our commitment to innovation and growth, we have a subsidiary focused on investing in companies developing\nbreakthrough technologies, business models and products to sustainably feed a growing world population. Tyson New Ventures, LLC\nis used to broaden our exposure to innovative, new forms of protein and ways of sustainably producing food to complement the\nCompany’s continuing investments in innovation in our core Beef, Pork, Chicken and Prepared Foods businesses.\nFINANCIAL INFORMATION OF SEGMENTS\nWe operate in four reportable segments: Beef, Pork, Chicken and Prepared Foods. We measure segment profit as operating income\n(loss). International/Other primarily includes our foreign operations in Australia, China, Malaysia, Mexico, the Netherlands, South\nKorea and Thailand, third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC. The\ncontribution of each segment to net sales and operating income (loss), and the identifiable assets attributable to each segment, are set\nforth in Part II, Item 8, Notes to Consolidated Financial Statements, Note 17: Segment Reporting.\nDESCRIPTION OF SEGMENTS\nBeef\nBeef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal\nmeat cuts and case-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators,\nhotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food\nprocessors, as well as to international export markets. This segment also includes sales from specialty products such as hides and\nvariety meats, as well as logistics operations to move products through the supply chain.\nPork\nPork includes our operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and\ncase-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains\nand noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as\nto international export markets. This segment also includes our live swine group, related specialty product processing activities and\nlogistics operations to move products through the supply chain.\n2\nChicken\nChicken includes our domestic operations related to raising and processin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_cash_flow",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1752m, financing: 88m, investing: -2299m",
      "golden_context": "Page 52:\n\nTYSON FOODS, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nin millions\nfiscal year ended\nSeptember 30, 2023 October 1, 2022 October 2, 2021\nCash Flows From Operating Activities:\nNet income (loss) $ (649) $ 3,249 $ 3,060\nAdjustments to reconcile net income to cash provided by operating activities:\nDepreciation 1,100 945 934\nAmortization 239 257 280\nDeferred income taxes (183) 264 (125)\nImpairment of goodwill 781\n—\n—\nGain on disposition of business —\n—\n(784)\nImpairments and disposals of assets 101 34 60\nStock-based compensation expense 61 93 91\nOther, net 115 (51) (57)\n(Increase) decrease in accounts receivable 136 (176) (508)\n(Increase) decrease in inventories 175 (1,195) (567)\nIncrease (decrease) in accounts payable 47 302 351\nIncrease (decrease) in income taxes payable/receivable 108 (580) 421\nIncrease (decrease) in interest payable —\n(13) (5)\nNet changes in other operating assets and liabilities (279) (442) 689\nCash Provided by Operating Activities 1,752 2,687 3,840\nCash Flows From Investing Activities:\nAdditions to property, plant and equipment (1,939) (1,887) (1,209)\nPurchases of marketable securities (34) (35) (72)\nProceeds from sale of marketable securities 32 34 70\nProceeds from sale of businesses —\n—\n1,188\nAcquisitions, net of cash acquired (262) —\n—\nAcquisition of equity investments (115) (177) (44)\nOther, net 19 130 125\nCash Provided by (Used for) Investing Activities (2,299) (1,935) 58\nCash Flows From Financing Activities:\nProceeds from issuance of debt 1,130 103 585\nPayments on debt (603) (1,191) (2,632)\nProceeds from issuance of commercial paper 7,693\n—\n—\nRepayments of commercial paper (7,103) —\n—\nPurchases of Tyson Class A common stock (354) (702) (67)\nDividends (670) (653) (636)\nStock options exercised 11 126 41\nOther, net (16) (6) (22)\nCash Provided by (Used for) Financing Activities 88 (2,323) (2,731)\nEffect of Exchange Rate Change on Cash 1 (35) 4\n(Decrease) Increase in Cash and Cash Equivalents and Restricted Cash (458) (1,606) 1,171\nCash and Cash Equivalents and Restricted Cash at Beginning of Year 1,031 2,637 1,466\nCash and Cash Equivalents and Restricted Cash at End of Year 573 1,031 2,637\nLess: Restricted Cash at End of Year —\n—\n130\nCash and Cash Equivalents at End of Year $ 573 $ 1,031 $ 2,507\nSee accompanying Notes to Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_company_type",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended September 30, 2023\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\n001-14704\n(Commission File Number)\n______________________________________________\nTYSON FOODS, INC.\n(Exact name of registrant as specified in its charter)\n______________________________________________\nDelaware 71-0225165\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n2200 West Don Tyson Parkway,\nSpringdale, Arkansas 72762-6999\n(Address of principal executive offices) (Zip Code)\n(479) 290-4000\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Name of Each Exchange on Which Registered\nClass A Common Stock Par Value $0.10 TSN New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: Not Applicable\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes\n☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an\nemerging growth company. See definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_key_financials",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net income attributable to Tyson: -648m, sales decreased to 52.9bn, operating loss of 395m, 781m goodwill impairment charges",
      "golden_context": "Page 26:\n\nporate overhead related to Tyson New Ventures, LLC. For further description of the business, refer to Part I, Item\n1, Business.\nOVERVIEW\nFiscal year\nWe utilize a 52- or 53-week accounting period ending on the Saturday closest to September 30. The Company’s accounting cycle resulted in a 52-week year for\nfiscal 2023, 2022 and 2021.\nGeneral\nSales decreased slightly to $52.9 billion in fiscal 2023 as compared to fiscal 2022, largely due to decreased sales volumes in our Beef and Pork segments and\nlower average sales price in our Chicken and Pork segments, partially offset by increased sales volumes in our Chicken segment. We incurred an operating loss\nof $395 million in fiscal 2023 as compared to operating income of $4,410 million fiscal 2022, as we experienced lower operating income in all our segments\nother than the Prepared Foods segment. In fiscal 2023, our operating income was impacted by $781 million of goodwill impairment charges, $322 million of\nplant closure charges, $156 million of legal contingency accruals, $124 million of restructuring and related charges, $17 million of product line discontinuation\ncharges, and benefited by $53 million of insurance proceeds, net of costs incurred, related to fires at our production facilities and $19 million related to the\nrelocation of a production facility in China. In fiscal 2022, our results were impacted by $66 million of restructuring and related charges and $62 million of\ninsurance proceeds, net of costs incurred related to fires at our production facilities.\nMarket Environment\nAccording to the USDA, domestic protein production (beef, pork, chicken and turkey) decreased slightly in fiscal 2023 compared to fiscal 2022. All segments\nexperienced inflation in operating costs, especially in labor and certain materials, however, the rate of inflation started to decrease and protein prices began to\nlevel off. We continue to pursue recovery of increased input costs through pricing. Additionally, the conflict between Ukraine and Russia has led to economic\nsanctions against Russia and certain regions of Ukraine and Belarus. As of September 30, 2023, the impact of this conflict has not had a material direct impact\non our consolidated financial performance. However, the conflict is still ongoing and there are many risks and uncertainties in relation to the conflict that are\noutside of our control. Furthermore, the conflict in the Middle East escalated in October 2023 creating economic and political uncertainty within the region. If\nthese conflicts escalate further, impact additional regions or countries, or additional economic sanctions are imposed, it could have a material impact on our\nbusiness operations and financial performance. The Beef segment experienced reduced supply of market-ready cattle and increased live cattle costs. The Pork\nsegment experienced sufficient supply and reduced live hog costs, but was negatively impacted by softening global demand. The Chicken segment experienced\nincreased feed ingredient and other input costs along with excess domestic supply impacts to sales pricing. The Prepared Foods segment experienced decreased\nraw material costs primarily due to lower meat \n\nPage 30:\n\ns on equity investments due to observable price changes in fiscal 2022.\nEffective Tax Rate\n2023 2022\n4.3 % 21.7 %\nThe percentage impacts on the effective tax rate were greater in fiscal 2023 due to the level of pretax income (loss) in fiscal 2023 compared to fiscal 2022.\nAdditionally, tax benefits increased the effective tax rate on a pretax loss in fiscal 2023 and decreased the effective tax rate on pretax income in fiscal 2022.\n2023 – The effective tax rate is lower than the statutory rate due to a $781 million non-deductible goodwill impairment, partially offset by income tax\ncredits and a $26 million benefit from the remeasurement of deferred income taxes, primarily due to legislation decreasing state tax rates enacted in\nfiscal 2023.\n2022 – The effective tax rate includes a $36 million benefit from the remeasurement of deferred income taxes, primarily due to legislation decreasing state\ntax rates enacted in fiscal 2022.\nNet Income (Loss) Attributable to Tyson Net income (loss) attributable to Tyson Net income (loss) attributable to Tyson - per diluted share in millions, except per share data\n2023 2022\n$ (648) $ 3,238\n(1.87) 8.92\n2023 – Included the following items:\n• $757 million pretax, or ($2.13) per diluted share, of goodwill impairment charges (non-tax deductible) net of $24 million associated with Net Income\n(Loss) Attributable to Noncontrolling Interests.\n• $322 million pretax, or ($0.67) per diluted share, of charges related to plant closures.\n• $156 million pretax, or ($0.33) per diluted share, related to the recognition of legal contingency accruals.\n• $124 million pretax, or ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_revenue",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "sales 52881m",
      "golden_context": "Page 28:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended September 30, 2023\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\n001-14704\n(Commission File Number)\n______________________________________________\nTYSON FOODS, INC.\n(Exact name of registrant as specified in its charter)\n______________________________________________\nDelaware 71-0225165\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n2200 West Don Tyson Parkway,\nSpringdale, Arkansas 72762-6999\n(Address of principal executive offices) (Zip Code)\n(479) 290-4000\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Name of Each Exchange on Which Registered\nClass A Common Stock Par Value $0.10 TSN New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: Not Applicable\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes\n☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an\nemerging growth company. See definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_revenue_growth",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "sales decline -0.8%",
      "golden_context": "Page 28:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended September 30, 2023\n☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\n001-14704\n(Commission File Number)\n______________________________________________\nTYSON FOODS, INC.\n(Exact name of registrant as specified in its charter)\n______________________________________________\nDelaware 71-0225165\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n2200 West Don Tyson Parkway,\nSpringdale, Arkansas 72762-6999\n(Address of principal executive offices) (Zip Code)\n(479) 290-4000\n(Registrant’s telephone number, including area code)\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol Name of Each Exchange on Which Registered\nClass A Common Stock Par Value $0.10 TSN New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: Not Applicable\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes\n☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an\nemerging growth company. See definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in\nRule 12b-2 of the Exchange Act.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000337_segments",
      "report_id": "ID_000337",
      "company_name": "Tyson Foods",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Beef, Pork, Chicken and Prepared Foods",
      "golden_context": "Page 4:\n\ns and domestic distributors who serve restaurants, foodservice operations such as plant and school\ncafeterias, convenience stores, hospitals and other vendors. Additionally, sales to the military and a portion of sales to international markets are made through\nindependent brokers and trading companies.\nAs part of our commitment to innovation and growth, we have a subsidiary focused on investing in companies developing breakthrough technologies, business\nmodels and products to sustainably feed a growing world population. Tyson New Ventures, LLC is used to broaden our exposure to innovative, new forms of\nprotein and ways of sustainably producing food to complement the Company’s continuing investments in innovation in our core Beef, Pork, Chicken and\nPrepared Foods businesses.\nFINANCIAL INFORMATION OF SEGMENTS\nWe operate in four reportable segments: Beef, Pork, Chicken and Prepared Foods. We measure segment profit as operating income (loss). International/Other\nprimarily includes our foreign operations in Australia, China, Malaysia, Mexico, the Netherlands, South Korea, Thailand and the Kingdom of Saudi Arabia,\nthird-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC. The contribution of each segment to net sales and\noperating income (loss), and the identifiable assets attributable to each segment, are set forth in Part II, Item 8, Notes to Consolidated Financial Statements, Note\n17: Segment Reporting.\nDESCRIPTION OF SEGMENTS\nBeef\nBeef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready\nproducts. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice\nestablishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also\nincludes sales from specialty products such as hides and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_cash_flow",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "cash flow from operations of 2.2bn",
      "golden_context": "Page 4-6:\n\n behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation\nand dedication to excellence.\nThe entire Steel Dynamics team delivered an outstanding\nperformance during 2021. Our strategic growth and market\npositioning over the last several years were integral to\nour performance. We achieved numerous milestones and\nperformed at the top of our industry both operationally\nand financially.\nRECORD OPERATING INCOME\n$1,722\n$1,067\n$987\n$847\n2017\n2018\n2020\nOn almost every measure, our 2021 performance was a\nrecord year. Our steel and steel fabrication operations\nachieved record product pricing and demand, increasing\n2021 revenues to a record $18.4 billion. Each of our three\nprimary operating platforms achieved record annual\nearnings, resulting in record consolidated operating income\nof $4.3 billion and record net income of $3.2 billion.\n2019\nMillions of Dollars\n3.2B\nRecord 2021 Net Income\n$4,301\n2021\n1\nWe generated record cash flow from operations of $2.2 billion\nand record EBITDA of $4.6 billion during 2021. We ended\n2021 with strong liquidity of $2.4 billion, while at the same\ntime meaningfully growing our business through significant\norganic growth investments, maintaining a positive cash\ndividend profile and executing on our share repurchase\nprogram. We have a firm foundation for our continued\nlong-term, strategic growth and ongoing value creation.\nOur performance is a testament to the passion, commitment\nand spirit of excellence that drives our teams. Across the\ncompany, our teams achieved best in-class performance,\nwhile maintaining a focus to keep each other healthy and\nsafe. I am proud to work alongside each of them.\nOUR RESOURCES\nOur commitment to all aspects of sustainability is embedded\nin our founding principles—valuing our people, our partners,\nour communities and our environment. These strategic\nprinciples drive long-term value creation for all of us.\nThe health and safety of our people is our number\none value and primary focus. Nothing surpasses the\nimportance of each individual team member. Safety is\nan integral part of our culture, and we must collectively\nensure every person is personally engaged in sustaining\na safe workplace for themselves, their team members and\ntheir families.\nWe are also committed to operating our business in an\nenvironmentally responsible manner and have been since\nour founding. We only use electric arc furnace (EAF)\ntechnology—which emits a fraction of the greenhouse\ngases (GHG) and uses a fraction of the energy of\ntraditional steelmaking. We have always been, and continue\nto be, a leader in the production of sustainable, lower-\ncarbon emission steel products. We encourage the use of\nnew technologies and processes to reduce our impact on\nthe environment, including a strategic focus on carbon\nemissions mitigation with a goal for our steel mills to be\ncarbon neutral by 2050. Our sustainability strategy is an\nongoing journey, and we plan to use our entrepreneurial,\ninnovative spirit to continue to be a leader in the industry.\nOUR OPERATIONS\nOur performance was outstanding on a number of key\nmeasures, including operating margin, EBITDA margin,\nreturn on invested capital and for our steel operations,\nprofitability per steel ton shipped. Our entrepreneurial\nculture is at the core of our success and is driven\nby our extensive performance-based compensation\nphilosophy for those on the plant floor through those in\nsenior leadership. Team members are passionate about\ndelivering quality products and excellent service to our\ncustomers. Our common goal of consistently achieving\nexcellence in all we do is reflected in the esprit de corps\nEBITDA MARGIN1\n14%\n9%\n6%\n17%\n11%\n7%\n12%\n8%\n3%\n12%\n7%\n-2%\n25%\n23%\n12%\n2017\n2018 2019 2020 2021\nSteel Dynamics\nPeer Group Average2\nPeer Group Low2\n1\n_x0007_ _x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation and amortization (excludes non-cash asset\nimpairments). See the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n²\n_x0007_ _x0007_ Peer group consists of Nucor, AK Steel: 2017 to 2019, Cleveland Cliffs: 2020 to 2021, US Steel and Commercial\nMetals Company (CMC). Source: Respective SEC filings. CMC data for annual periods ended November 30.\n2\n2021 STEEL OPERATIONS END MARKETS\n(Based on 2021 Steel Shipments)\n5% 4%\n6%\n7%\n49%\n12%\n17%\nthat permeates our company. Whether implementing\ninnovative technology in our manufacturing processes or\nensuring we consistently exceed customer expectations,\nour teams vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record annual 2021 steel\nshipments of 11.2 million tons. The domestic steel industry\nbenefited from a steady improvement in underlying steel\ndemand and lower finished steel imports, as economies\naround the world recovered from the lower pandemic-\nrelated activity. Coupled with our own strategic growth\ninitiatives, we increased profit margins and volume during\nthe year, resulting in record steel operating income of\n$4.4 billion, far surpassing the $1.9 billion previous record\nin 2018.\nOur steel mills operated at 91% of production capability,\ncompared to the domestic steel industry, which operated\nat only 81%. We consistently realize higher production\nutilization than our peers, as a result of our diversified\nproduct portfolio and end markets, emphasis on higher\nvalue-added steels, unique supply-chain offerings, consistent\ncustomer focus and vertically connected businesses.\n2021 ANNUAL REPORT\nConstruction-Related\nOther Manufacturing\nAutomotive\nTransportation & Rail\nAg, Equipment & Mining\nNon-Energy Pipe & Tube\nEnergy\n11.2M\nRecord 11.2M Tons of Steel Shipped in 2021\nSTEEL FABRICATION\nOur steel fabrication operations achieved record annual\nshipments and operating income, as non-residential\nconstruction demand continued to improve during 2021.\nThe team maintained a strong market position, as a result\nof superior customer service, a national geographic\nservice capability and a highly engineered complementary\nproduct mix.\nOperating income for our steel fabrication platform\nincreased to a record $365 million in 2021—an amazing\nperformance in a rising steel cost environment. The\ncircular connection between our steel and steel fabrication\noperations provides a natural hedge in periods of declining\nsteel pricing.\nMETALS RECYCLING\nOur metals recycling platform also had an outstanding\nperformance, as they continued to work synergistically with\nour steel mills to ensure the supply of low-cost, high-quality\nraw materials, internally supplying 3.6 million tons (or 42%\nof our needs) of ferrous material in 2021. Supported by\nimproved domestic steel production, the team achieved\nrecord 2021 operating income of $182 million.\n3\nCURRENT KEY STRATEGIC GROWTH INITIATIVES\nWe continue to position our company for the future through optimization of existing operations,\norganic investments and transactional growth. During 2021, we executed several key initiatives to\nsupport our strategic growth and profitability strategies.\n› We are excited about our 3.0-million-ton\nSouthwest-Sinton Flat Roll Division (Sinton Steel\nMill), which currently includes a galvanizing line\n(with Galvalume® capability) and a paint line,\nwith plans to add two additional lines. The state-\nof-the-art facility is designed to have product\ncapabilities beyond that of any existing EAF\nflat roll steel producers, competing even more",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_company_type",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 27:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nCommission File Number 0-21719\nSteel Dynamics, Inc.\n(Exact name of registrant as specified in its charter)\nIndiana 35-1929476\n(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)\n7575 West Jefferson Blvd, Fort Wayne, IN (Address of principal executive offices) 46804\n(Zip Code)\nRegistrant’s telephone number, including area code: (260) 969-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Name of each exchange on which registered\nCommon Stock voting, $0.0025 par value STLD NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No □\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No □\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit such files). Yes ☒ No □\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller\nreporting company,’’ and ‘‘emerging growth company’’ in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer □ Non-accelerated filer □ Smaller reporting company □\nEmerging growth company □\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered\npublic accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes □ No ☒\nThe aggregate market value of the voting stock held by non-affiliates of the registrant computed by reference to the price at which the\ncommon equity was last sold as of June 30, 2021, was approximately $8.7 billion. Registrant has no non-voting shares. For purposes\nof this calculation, shares of common stock held by directors, officers and 5% stockholders known to the registrant have been deemed\nto be owned by affiliates, but this should not be construed as an admission that any such person possesses the power, direct or\nindirect, to direct or cause the direction of the management or policies of the registrant or that such person is controlled by or under\ncommon control with the registrant.\nAs of February 18, 2022, Registrant had outstanding 191,299,162 shares of common stock.\nDOCUMENTS INCORPORATED BY REFERENCE",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_key_financials",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 18.4bn, operating income 4.3bn record net income of 3.2bn, cash flow from operations of 2.2bn, EBITDA 4.6bn",
      "golden_context": "Page 4-6:\n\n behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation\nand dedication to excellence.\nThe entire Steel Dynamics team delivered an outstanding\nperformance during 2021. Our strategic growth and market\npositioning over the last several years were integral to\nour performance. We achieved numerous milestones and\nperformed at the top of our industry both operationally\nand financially.\nRECORD OPERATING INCOME\n$1,722\n$1,067\n$987\n$847\n2017\n2018\n2020\nOn almost every measure, our 2021 performance was a\nrecord year. Our steel and steel fabrication operations\nachieved record product pricing and demand, increasing\n2021 revenues to a record $18.4 billion. Each of our three\nprimary operating platforms achieved record annual\nearnings, resulting in record consolidated operating income\nof $4.3 billion and record net income of $3.2 billion.\n2019\nMillions of Dollars\n3.2B\nRecord 2021 Net Income\n$4,301\n2021\n1\nWe generated record cash flow from operations of $2.2 billion\nand record EBITDA of $4.6 billion during 2021. We ended\n2021 with strong liquidity of $2.4 billion, while at the same\ntime meaningfully growing our business through significant\norganic growth investments, maintaining a positive cash\ndividend profile and executing on our share repurchase\nprogram. We have a firm foundation for our continued\nlong-term, strategic growth and ongoing value creation.\nOur performance is a testament to the passion, commitment\nand spirit of excellence that drives our teams. Across the\ncompany, our teams achieved best in-class performance,\nwhile maintaining a focus to keep each other healthy and\nsafe. I am proud to work alongside each of them.\nOUR RESOURCES\nOur commitment to all aspects of sustainability is embedded\nin our founding principles—valuing our people, our partners,\nour communities and our environment. These strategic\nprinciples drive long-term value creation for all of us.\nThe health and safety of our people is our number\none value and primary focus. Nothing surpasses the\nimportance of each individual team member. Safety is\nan integral part of our culture, and we must collectively\nensure every person is personally engaged in sustaining\na safe workplace for themselves, their team members and\ntheir families.\nWe are also committed to operating our business in an\nenvironmentally responsible manner and have been since\nour founding. We only use electric arc furnace (EAF)\ntechnology—which emits a fraction of the greenhouse\ngases (GHG) and uses a fraction of the energy of\ntraditional steelmaking. We have always been, and continue\nto be, a leader in the production of sustainable, lower-\ncarbon emission steel products. We encourage the use of\nnew technologies and processes to reduce our impact on\nthe environment, including a strategic focus on carbon\nemissions mitigation with a goal for our steel mills to be\ncarbon neutral by 2050. Our sustainability strategy is an\nongoing journey, and we plan to use our entrepreneurial,\ninnovative spirit to continue to be a leader in the industry.\nOUR OPERATIONS\nOur performance was outstanding on a number of key\nmeasures, including operating margin, EBITDA margin,\nreturn on invested capital and for our steel operations,\nprofitability per steel ton shipped. Our entrepreneurial\nculture is at the core of our success and is driven\nby our extensive performance-based compensation\nphilosophy for those on the plant floor through those in\nsenior leadership. Team members are passionate about\ndelivering quality products and excellent service to our\ncustomers. Our common goal of consistently achieving\nexcellence in all we do is reflected in the esprit de corps\nEBITDA MARGIN1\n14%\n9%\n6%\n17%\n11%\n7%\n12%\n8%\n3%\n12%\n7%\n-2%\n25%\n23%\n12%\n2017\n2018 2019 2020 2021\nSteel Dynamics\nPeer Group Average2\nPeer Group Low2\n1\n_x0007_ _x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation and amortization (excludes non-cash asset\nimpairments). See the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n²\n_x0007_ _x0007_ Peer group consists of Nucor, AK Steel: 2017 to 2019, Cleveland Cliffs: 2020 to 2021, US Steel and Commercial\nMetals Company (CMC). Source: Respective SEC filings. CMC data for annual periods ended November 30.\n2\n2021 STEEL OPERATIONS END MARKETS\n(Based on 2021 Steel Shipments)\n5% 4%\n6%\n7%\n49%\n12%\n17%\nthat permeates our company. Whether implementing\ninnovative technology in our manufacturing processes or\nensuring we consistently exceed customer expectations,\nour teams vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record annual 2021 steel\nshipments of 11.2 million tons. The domestic steel industry\nbenefited from a steady improvement in underlying steel\ndemand and lower finished steel imports, as economies\naround the world recovered from the lower pandemic-\nrelated activity. Coupled with our own strategic growth\ninitiatives, we increased profit margins and volume during\nthe year, resulting in record steel operating income of\n$4.4 billion, far surpassing the $1.9 billion previous record\nin 2018.\nOur steel mills operated at 91% of production capability,\ncompared to the domestic steel industry, which operated\nat only 81%. We consistently realize higher production\nutilization than our peers, as a result of our diversified\nproduct portfolio and end markets, emphasis on higher\nvalue-added steels, unique supply-chain offerings, consistent\ncustomer focus and vertically connected businesses.\n2021 ANNUAL REPORT\nConstruction-Related\nOther Manufacturing\nAutomotive\nTransportation & Rail\nAg, Equipment & Mining\nNon-Energy Pipe & Tube\nEnergy\n11.2M\nRecord 11.2M Tons of Steel Shipped in 2021\nSTEEL FABRICATION\nOur steel fabrication operations achieved record annual\nshipments and operating income, as non-residential\nconstruction demand continued to improve during 2021.\nThe team maintained a strong market position, as a result\nof superior customer service, a national geographic\nservice capability and a highly engineered complementary\nproduct mix.\nOperating income for our steel fabrication platform\nincreased to a record $365 million in 2021—an amazing\nperformance in a rising steel cost environment. The\ncircular connection between our steel and steel fabrication\noperations provides a natural hedge in periods of declining\nsteel pricing.\nMETALS RECYCLING\nOur metals recycling platform also had an outstanding\nperformance, as they continued to work synergistically with\nour steel mills to ensure the supply of low-cost, high-quality\nraw materials, internally supplying 3.6 million tons (or 42%\nof our needs) of ferrous material in 2021. Supported by\nimproved domestic steel production, the team achieved\nrecord 2021 operating income of $182 million.\n3\nCURRENT KEY STRATEGIC GROWTH INITIATIVES\nWe continue to position our company for the future through optimization of existing operations,\norganic investments and transactional growth. During 2021, we executed several key initiatives to\nsupport our strategic growth and profitability strategies.\n› We are excited about our 3.0-million-ton\nSouthwest-Sinton Flat Roll Division (Sinton Steel\nMill), which currently includes a galvanizing line\n(with Galvalume® capability) and a paint line,\nwith plans to add two additional lines. The state-\nof-the-art facility is designed to have product\ncapabilities beyond that of any existing EAF\nflat roll steel producers, competing even more",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_revenue",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "18.4bn ",
      "golden_context": "Page 4-6:\n\n behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation\nand dedication to excellence.\nThe entire Steel Dynamics team delivered an outstanding\nperformance during 2021. Our strategic growth and market\npositioning over the last several years were integral to\nour performance. We achieved numerous milestones and\nperformed at the top of our industry both operationally\nand financially.\nRECORD OPERATING INCOME\n$1,722\n$1,067\n$987\n$847\n2017\n2018\n2020\nOn almost every measure, our 2021 performance was a\nrecord year. Our steel and steel fabrication operations\nachieved record product pricing and demand, increasing\n2021 revenues to a record $18.4 billion. Each of our three\nprimary operating platforms achieved record annual\nearnings, resulting in record consolidated operating income\nof $4.3 billion and record net income of $3.2 billion.\n2019\nMillions of Dollars\n3.2B\nRecord 2021 Net Income\n$4,301\n2021\n1\nWe generated record cash flow from operations of $2.2 billion\nand record EBITDA of $4.6 billion during 2021. We ended\n2021 with strong liquidity of $2.4 billion, while at the same\ntime meaningfully growing our business through significant\norganic growth investments, maintaining a positive cash\ndividend profile and executing on our share repurchase\nprogram. We have a firm foundation for our continued\nlong-term, strategic growth and ongoing value creation.\nOur performance is a testament to the passion, commitment\nand spirit of excellence that drives our teams. Across the\ncompany, our teams achieved best in-class performance,\nwhile maintaining a focus to keep each other healthy and\nsafe. I am proud to work alongside each of them.\nOUR RESOURCES\nOur commitment to all aspects of sustainability is embedded\nin our founding principles—valuing our people, our partners,\nour communities and our environment. These strategic\nprinciples drive long-term value creation for all of us.\nThe health and safety of our people is our number\none value and primary focus. Nothing surpasses the\nimportance of each individual team member. Safety is\nan integral part of our culture, and we must collectively\nensure every person is personally engaged in sustaining\na safe workplace for themselves, their team members and\ntheir families.\nWe are also committed to operating our business in an\nenvironmentally responsible manner and have been since\nour founding. We only use electric arc furnace (EAF)\ntechnology—which emits a fraction of the greenhouse\ngases (GHG) and uses a fraction of the energy of\ntraditional steelmaking. We have always been, and continue\nto be, a leader in the production of sustainable, lower-\ncarbon emission steel products. We encourage the use of\nnew technologies and processes to reduce our impact on\nthe environment, including a strategic focus on carbon\nemissions mitigation with a goal for our steel mills to be\ncarbon neutral by 2050. Our sustainability strategy is an\nongoing journey, and we plan to use our entrepreneurial,\ninnovative spirit to continue to be a leader in the industry.\nOUR OPERATIONS\nOur performance was outstanding on a number of key\nmeasures, including operating margin, EBITDA margin,\nreturn on invested capital and for our steel operations,\nprofitability per steel ton shipped. Our entrepreneurial\nculture is at the core of our success and is driven\nby our extensive performance-based compensation\nphilosophy for those on the plant floor through those in\nsenior leadership. Team members are passionate about\ndelivering quality products and excellent service to our\ncustomers. Our common goal of consistently achieving\nexcellence in all we do is reflected in the esprit de corps\nEBITDA MARGIN1\n14%\n9%\n6%\n17%\n11%\n7%\n12%\n8%\n3%\n12%\n7%\n-2%\n25%\n23%\n12%\n2017\n2018 2019 2020 2021\nSteel Dynamics\nPeer Group Average2\nPeer Group Low2\n1\n_x0007_ _x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation and amortization (excludes non-cash asset\nimpairments). See the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n²\n_x0007_ _x0007_ Peer group consists of Nucor, AK Steel: 2017 to 2019, Cleveland Cliffs: 2020 to 2021, US Steel and Commercial\nMetals Company (CMC). Source: Respective SEC filings. CMC data for annual periods ended November 30.\n2\n2021 STEEL OPERATIONS END MARKETS\n(Based on 2021 Steel Shipments)\n5% 4%\n6%\n7%\n49%\n12%\n17%\nthat permeates our company. Whether implementing\ninnovative technology in our manufacturing processes or\nensuring we consistently exceed customer expectations,\nour teams vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record annual 2021 steel\nshipments of 11.2 million tons. The domestic steel industry\nbenefited from a steady improvement in underlying steel\ndemand and lower finished steel imports, as economies\naround the world recovered from the lower pandemic-\nrelated activity. Coupled with our own strategic growth\ninitiatives, we increased profit margins and volume during\nthe year, resulting in record steel operating income of\n$4.4 billion, far surpassing the $1.9 billion previous record\nin 2018.\nOur steel mills operated at 91% of production capability,\ncompared to the domestic steel industry, which operated\nat only 81%. We consistently realize higher production\nutilization than our peers, as a result of our diversified\nproduct portfolio and end markets, emphasis on higher\nvalue-added steels, unique supply-chain offerings, consistent\ncustomer focus and vertically connected businesses.\n2021 ANNUAL REPORT\nConstruction-Related\nOther Manufacturing\nAutomotive\nTransportation & Rail\nAg, Equipment & Mining\nNon-Energy Pipe & Tube\nEnergy\n11.2M\nRecord 11.2M Tons of Steel Shipped in 2021\nSTEEL FABRICATION\nOur steel fabrication operations achieved record annual\nshipments and operating income, as non-residential\nconstruction demand continued to improve during 2021.\nThe team maintained a strong market position, as a result\nof superior customer service, a national geographic\nservice capability and a highly engineered complementary\nproduct mix.\nOperating income for our steel fabrication platform\nincreased to a record $365 million in 2021—an amazing\nperformance in a rising steel cost environment. The\ncircular connection between our steel and steel fabrication\noperations provides a natural hedge in periods of declining\nsteel pricing.\nMETALS RECYCLING\nOur metals recycling platform also had an outstanding\nperformance, as they continued to work synergistically with\nour steel mills to ensure the supply of low-cost, high-quality\nraw materials, internally supplying 3.6 million tons (or 42%\nof our needs) of ferrous material in 2021. Supported by\nimproved domestic steel production, the team achieved\nrecord 2021 operating income of $182 million.\n3\nCURRENT KEY STRATEGIC GROWTH INITIATIVES\nWe continue to position our company for the future through optimization of existing operations,\norganic investments and transactional growth. During 2021, we executed several key initiatives to\nsupport our strategic growth and profitability strategies.\n› We are excited about our 3.0-million-ton\nSouthwest-Sinton Flat Roll Division (Sinton Steel\nMill), which currently includes a galvanizing line\n(with Galvalume® capability) and a paint line,\nwith plans to add two additional lines. The state-\nof-the-art facility is designed to have product\ncapabilities beyond that of any existing EAF\nflat roll steel producers, competing even more",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_revenue_growth",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "18409m currently, 9601m in the prior year",
      "golden_context": "Page 26:\n\n Millennium Building Systems | Salem, Virginia\nSELECTED FINANCIAL DATA\n(Millions of dollars, except share amounts) Net Sales Operating Income Net Income Attributable to SDI Net Income per Diluted Share Cash Flow from Operations Capital Investments Net Debt (long-term debt including current portion less cash\nand short-term investments)\nShares Outstanding (thousands) Dividends Declared per Share ADJUSTED EBITDA AND FREE CASH FLOW\nRECONCILIATION (Millions of dollars)\nNet Income (Loss) Income Taxes (Benefit) Net Interest Expense Depreciation Amortization Non-controlling Interests EBITDA Unrealized (Gains)/Losses Inventory Valuation Equity-based Compensation Asset Impairment Charges\nRefinancing Charges\nAdjusted EBITDA Less Capital Investments Free Cash Flow 24\n2011 $ 266 158 172 177 40 13 $ 826 2017 $ 9,539 $ 1,067 $ 813 $ 3.36 $ 739 $ 165 $ 1,353 237,397 $ 0.62 2012 2013 $ 142 62 154 $ 164 99 123 180 36 21 $ 595 192 32 26 $ 636 (4) 17 -\n-\n(3) 9 6 12 8\n2018 $ 11,822 $ 1,722 $ 1,258 $ 5.35 $ 1,415 $ 239 $ 1,320 225,272 $ 0.75 2014 2015 $ 92 73 135 $ (145) (97) 153 229 28 65 $ 622 263 25 15 $ 214 5 (5) 2019 2020 $ 10,465 $ 9,601 $ 987 $ 847 $ 671 $ 551 $ 3.04 $ 2.59 $ 1,396 $ 987 $ 452 $ 1,198 $ 1,091 $ 1,790 214,503 210,914 $ 0.96 $ 1.00 2016 2017 2018 2019 $ 360 $ 806 $ 1,256 $ 678 204 129 364 197 141 124 104 99 261 265 283 286 29 29 28 30 22 7 3 $ 1,017 $ 1,360 $ 2,038 (7) $ 1,283 3 1 5 (6) 1 3 30 120\n34 -\n3 3 3\n40 -\n-\n2 1 43 -\n2021\n$ 18,409\n$ 4,301\n$ 3,214\n$ 15.56\n$ 2,204\n$ 1,006\n$ 1,912\n194,998\n$ 1.04\n2020 2021\n$ 571 $ 3,247\n135 85 291 29 (13) 962\n56\n312\n29\n(33)\n$ 1,098 $ 4,573\n3 2 16 -\n3 2\n7 10 23 213 -\n28 29 429 49 17\n3 8\n(2)\n2 6\n51\n-\n-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000338_segments",
      "report_id": "ID_000338",
      "company_name": "Steel Dynamics",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "steel operations, metals recycling operations, and steel fabrication operations",
      "golden_context": "Page 39:\n\nSegments\nWe have three reporting segments: steel operations, metals recycling operations, and steel fabrication\noperations. Refer to Notes 1 and 13 in the notes to consolidated financial statements in Part II, Item 8 of this\nForm 10-K for additional segment information.\nSteel Operations Segment\nSteel operations consist of our EAF steel mills, producing steel from ferrous scrap and scrap substitutes,\nutilizing continuous casting, automated rolling mills and numerous steel coating and processing lines. Our\nsteel operations sell directly to end-users, steel fabricators, and service centers. These products are used in\nnumerous industry sectors, including the construction, automotive, manufacturing, transportation, heavy and\nagriculture equipment, and pipe and tube (including OCTG) markets. Our steel operations accounted for 72%,\n74% and 76% of our consolidated net sales during 2021, 2020 and 2019, respectively. We currently are\npredominantly a domestic steel company, with exported sales representing 4% of our steel segment net sales\nduring 2021, 2020, and 2019.\nOur steel operations consist primarily of steelmaking and numerous coating operations. In 2021, we had\napproximately 8.4 million tons of flat roll steel annual shipping capacity, comprised of 6.4 million tons of flat\nroll steel capacity at our Butler and Columbus Flat Roll Divisions. We have an additional 2.0 million tons of\nflat roll steel shipping capacity through The Techs and our Heartland Flat Roll Division, as well as\ndistribution of metallic coated and pre-painted products through United Steel Supply (USS). Once fully\noperational, the Southwest-Sinton Flat Roll Division will add 3.0 million tons of annual flat roll steel shipping\ncapacity. We have annual flat roll galvanizing capability (including Southwest-Sinton Flat Roll Division in late\n2021) of 4.7 million tons and painting capability (including Southwest-Sinton Flat Roll Division in late 2021)\nof 1.5 million tons. We also have approximately 4.4 million tons of long product steel capacity at our long\nproducts divisions.\nCapacities represent manufacturing capabilities based on steel mill configuration and related employee\nsupport. These capacities do not represent expected volumes in a given year. In addition, estimates of steel\nmill capacity are highly dependent on the specific product mix manufactured. Each of our steel mills can and\ndo roll many different types and sizes of products; therefore, our capacity estimates assume a typical product\nmix.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000339_cash_flow",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "4.5bn cash flow from operations",
      "golden_context": "Page 3:\n\nFROM MARK\nD. MILLETT\nCO-FOUNDER, CHAIRMAN, AND CEO\nOn behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities,\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation,\nand dedication to excellence. The entire\nSteel Dynamics team delivered a record\nperformance during 2022. Our strategic\ngrowth and market positioning over the\nRecord Operating Income\n$5,092\n$4,301\n$1,722\n$987 $847\n2018\n$3.9B\nRecord 2022\nNet Income\n2019 2020\n2021 2022\nMillions of Dollars\nlast number of years were fundamental\nto our current performance. We\nachieved numerous milestones and\nperformed at the top of our industry,\nboth operationally and financially.\nOn most every measure, 2022 was\na record year. Our steel and steel\nfabrication operations achieved\nrecord shipments, increasing 2022\nconsolidated revenues to a record\n$22.3 billion. We expanded profit\nmargins within our steel fabrication\noperations and achieved record\nannual consolidated operating\nincome of $5.1 billion and record net\nincome of $3.9 billion.\nWe generated record cash flow from\noperations of $4.5 billion, and record\nadjusted EBITDA of $5.5 billion during\n2022. We ended 2022 with record\nliquidity of $3.4 billion, while at the\nsame time meaningfully growing our\nbusiness through significant organic\ngrowth investments, maintaining a\npositive cash dividend profile, and\nexecuting on our share repurchase\nprogram. We have a firm foundation\nfor our continued long-term, strategic\ngrowth, and ongoing value creation.\nOur performance is truly a testament\nto the passion, commitment, and\nspirit of excellence that drive our\nteams. Across the company, our teams\nachieved best-in-class performance,\nwhile keeping each other healthy and\nsafe. I am proud to work alongside\neach of them.\nOUR RESOURCES\nOur commitment to all aspects of\nsustainability is embedded in our\nfounding principles—valuing our\npeople, our partners, our communities,\nand our environment. These strategic\nprinciples drive long-term value\ncreation for all of us.\n2\n2022 Annual Report\nThe health and safety of our people\nis our number one value and\nprimary focus. Nothing surpasses the\nimportance of each individual team\nmember. Safety is an integral part of\nour culture, and we must collectively\nensure every person is personally\nengaged in sustaining a safe workplace\nfor themselves, their team members,\nand their families.\nWe are also committed to operating\nour business in an environmentally\nresponsible manner and have been\nsince our founding. Our steel mills\nproduce steel exclusively utilizing\nelectric arc furnace (EAF) technology,\nwhich uses recycled ferrous scrap\nas the primary raw material. This\nmethod of steelmaking has a much\nlower environmental impact when\ncompared to traditional steelmaking\ntechnology. With our EAF steelmaking,\nNorth American recycling business,\nand circular manufacturing model,\nSteel Dynamics is already a leader in\nthe production of lower-carbon steel\nproducts within the global industry.\nWe continue to encourage the\nresearch and use of new technologies\nand processes to further reduce our\nimpact on the environment, including\na strategic focus on lowering carbon\nemissions with a goal for our steel\nmills to be carbon neutral by 2050.\nOur sustainability and decarbonization\nstrategy is an ongoing journey, and\nwe plan to use our entrepreneurial,\ninnovative spirit to continue to be a\nleader in the industry.\nOUR OPERATIONS\nWe once again achieved best-in-class\nindustry performance on a number\nof key business measures, including\noperating margin, EBITDA margin,\nreturn on invested capital, and for\nour steel operations, profitability per\nsteel ton shipped. Our entrepreneurial\nculture is at the core of our success and\nis driven by our extensive performance-\nbased compensation philosophy for\nthose on the plant floor through those\nin senior leadership. Team members\nare passionate about delivering quality\nproducts and excellent service to\nour customers. Our common goal of\nconsistently achieving excellence in all\nEBITDA Margin1\n25%\nOutstanding Industry Performance\n25%\n17%\n12% 12%\n2018\n2019 2020 2021 2022\nSteel Dynamics Peer Group Average2 Peer Group Low2\n1\n_x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation, and amortization (excludes non-cash asset impairments).\nSee the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n² _x0007_ Peer group consists of Nucor, AK Steel: 2018 to 2019, Cleveland Cliffs: 2020 to 2022, US Steel, and Commercial Metals Company (CMC).\nSource: Respective SEC filings. CMC data for annual periods ended November 30.\nSteel Operations End Markets\n(Based on 2022 Steel Shipments)\n12.2M\nRecord Steel\nTons Shipped\nConstruction-Related 49%\nOther Manufacturing 17%\nAutomotive 10%\nTransportation & Rail 8%\nEnergy 6%\nAg. Equipment & Mining 6%\nNon-Energy Pipe & Tube 4%\nwe do is reflected in the esprit de corps\nthat permeates our company. Whether\ndriving toward industry-leading safety\nperformance, implementing innovative\ntechnology in our manufacturing\nprocesses, or ensuring we consistently\nexceed customer expectations, our team\nmembers vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record\nannual 2022 steel shipments of 12.2\nmillion tons. Our steel processing and\nconversion locations, along with our\nfabrication platform, transferred over\n1.7 million tons of steel internally, or\n14% of our total 2022 steel shipments,\nsupporting our steel mills by providing\na powerful utilization lever.\nThe domestic steel industry benefited\nfrom steady steel consumption and\nstrong pricing through most of 2022,\nbut as customers began to destock\ninventories, flat rolled steel prices\ndeclined in the second half, before\nfirming at the end of the year. Coupled\nwith our strategic growth initiatives,\nwe achieved strong profit margins\nand volume during the year, resulting\nin historically strong steel operating\nincome of $3.1 billion, representing our\nsecond best year.\n3\nOur steel mills operated at 92% of\ncapability, compared to the domestic\nsteel industry rate of 78%. We\nconsistently realize higher production\nutilization than our peers, as a result\nof our diversified product portfolio\nand end markets, emphasis on higher\nvalue-added steels, unique supply-chain\nofferings, consistent customer focus,\nand vertically connected businesses.\nSTEEL FABRICATION\nOur steel fabrication operations\nachieved record annual shipments and\noperating income, as non-residential\nconstruction demand continued to\ngrow during 2022. The team excels\nas a result of superior customer\nservice, a national geographic service\ncapability, and a highly engineered\ncomplementary product mix.\nOperating income for our steel\nfabrication platform increased to a\nrecord $2.4 billion in 2022. Our vertical\nmanufacturing model provides a\nnatural hedge to steel price volatility.\nMETALS RECYCLING\nOur metals recycling platform also\nhad a strong performance, as they\ncontinued to work synergistically with\nour steel mills to ensure the supply of\nlow-cost, high-quality raw materials,\ninternally supplying almost 3.5 million\ntons of ferrous material in 2022. The\nteam’s continued focus on efficiency\ngains yielded sustainable positive\nresults, although earnings decreased\nduring the year as ferrous scrap prices\ndeclined throughout m",
      "eval_correct_all_info_there": null,
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    },
    {
      "unique_key": "ID_000339_company_type",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 23:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nCommission File Number 0-21719\nSteel Dynamics, Inc.\n(Exact name of registrant as specified in its charter)\nIndiana 35-1929476\n(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)\n7575 West Jefferson Blvd, Fort Wayne, IN 46804\n(Zip Code)\nRegistrant’s telephone number, including area code: (260) 969-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock voting, $0.0025 par value NASDAQ Global Select Market\n(Address of principal executive offices) Trading Symbol Name of each exchange on which registered\nSTLD Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No □\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No □\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files). Yes ☒ No □\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting\ncompany,’’ and ‘‘emerging growth company’’ in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer □ Non-accelerated filer □ Smaller reporting company □\nEmerging growth company □\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. □\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). □\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes □ No ☒\nThe aggregate market value of the voting stock held by non-affiliates of the registrant computed by reference to the price at which the\ncommon equity was last sold as of June 30, 2022, was approximately $8.5 billion. Registrant has no non-voting shares. For purposes of\nthis calculation, shares of common stock held by directors, officers and 5% stockholders known to the registrant have been deemed to be\nowned by affiliates, but this should not be construed as an admission that any such person possesses the power, direct or indirect, to\ndirect or cause the direction of the management or policies of the registrant or that such person is controlled by or under common control\nwith the registrant.\nAs of February 21, 2023, Registrant had outstanding 171,577,705 shares of common stock.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of registrant’s definitive proxy statement referenced in Part III, Items 10 through 14 of this report, to be f",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000339_key_financials",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "22.3bn consolidated revenues, operating income of 5.1bn, net income 3.9bn",
      "golden_context": "Page 3:\n\nFROM MARK\nD. MILLETT\nCO-FOUNDER, CHAIRMAN, AND CEO\nOn behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities,\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation,\nand dedication to excellence. The entire\nSteel Dynamics team delivered a record\nperformance during 2022. Our strategic\ngrowth and market positioning over the\nRecord Operating Income\n$5,092\n$4,301\n$1,722\n$987 $847\n2018\n$3.9B\nRecord 2022\nNet Income\n2019 2020\n2021 2022\nMillions of Dollars\nlast number of years were fundamental\nto our current performance. We\nachieved numerous milestones and\nperformed at the top of our industry,\nboth operationally and financially.\nOn most every measure, 2022 was\na record year. Our steel and steel\nfabrication operations achieved\nrecord shipments, increasing 2022\nconsolidated revenues to a record\n$22.3 billion. We expanded profit\nmargins within our steel fabrication\noperations and achieved record\nannual consolidated operating\nincome of $5.1 billion and record net\nincome of $3.9 billion.\nWe generated record cash flow from\noperations of $4.5 billion, and record\nadjusted EBITDA of $5.5 billion during\n2022. We ended 2022 with record\nliquidity of $3.4 billion, while at the\nsame time meaningfully growing our\nbusiness through significant organic\ngrowth investments, maintaining a\npositive cash dividend profile, and\nexecuting on our share repurchase\nprogram. We have a firm foundation\nfor our continued long-term, strategic\ngrowth, and ongoing value creation.\nOur performance is truly a testament\nto the passion, commitment, and\nspirit of excellence that drive our\nteams. Across the company, our teams\nachieved best-in-class performance,\nwhile keeping each other healthy and\nsafe. I am proud to work alongside\neach of them.\nOUR RESOURCES\nOur commitment to all aspects of\nsustainability is embedded in our\nfounding principles—valuing our\npeople, our partners, our communities,\nand our environment. These strategic\nprinciples drive long-term value\ncreation for all of us.\n2\n2022 Annual Report\nThe health and safety of our people\nis our number one value and\nprimary focus. Nothing surpasses the\nimportance of each individual team\nmember. Safety is an integral part of\nour culture, and we must collectively\nensure every person is personally\nengaged in sustaining a safe workplace\nfor themselves, their team members,\nand their families.\nWe are also committed to operating\nour business in an environmentally\nresponsible manner and have been\nsince our founding. Our steel mills\nproduce steel exclusively utilizing\nelectric arc furnace (EAF) technology,\nwhich uses recycled ferrous scrap\nas the primary raw material. This\nmethod of steelmaking has a much\nlower environmental impact when\ncompared to traditional steelmaking\ntechnology. With our EAF steelmaking,\nNorth American recycling business,\nand circular manufacturing model,\nSteel Dynamics is already a leader in\nthe production of lower-carbon steel\nproducts within the global industry.\nWe continue to encourage the\nresearch and use of new technologies\nand processes to further reduce our\nimpact on the environment, including\na strategic focus on lowering carbon\nemissions with a goal for our steel\nmills to be carbon neutral by 2050.\nOur sustainability and decarbonization\nstrategy is an ongoing journey, and\nwe plan to use our entrepreneurial,\ninnovative spirit to continue to be a\nleader in the industry.\nOUR OPERATIONS\nWe once again achieved best-in-class\nindustry performance on a number\nof key business measures, including\noperating margin, EBITDA margin,\nreturn on invested capital, and for\nour steel operations, profitability per\nsteel ton shipped. Our entrepreneurial\nculture is at the core of our success and\nis driven by our extensive performance-\nbased compensation philosophy for\nthose on the plant floor through those\nin senior leadership. Team members\nare passionate about delivering quality\nproducts and excellent service to\nour customers. Our common goal of\nconsistently achieving excellence in all\nEBITDA Margin1\n25%\nOutstanding Industry Performance\n25%\n17%\n12% 12%\n2018\n2019 2020 2021 2022\nSteel Dynamics Peer Group Average2 Peer Group Low2\n1\n_x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation, and amortization (excludes non-cash asset impairments).\nSee the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n² _x0007_ Peer group consists of Nucor, AK Steel: 2018 to 2019, Cleveland Cliffs: 2020 to 2022, US Steel, and Commercial Metals Company (CMC).\nSource: Respective SEC filings. CMC data for annual periods ended November 30.\nSteel Operations End Markets\n(Based on 2022 Steel Shipments)\n12.2M\nRecord Steel\nTons Shipped\nConstruction-Related 49%\nOther Manufacturing 17%\nAutomotive 10%\nTransportation & Rail 8%\nEnergy 6%\nAg. Equipment & Mining 6%\nNon-Energy Pipe & Tube 4%\nwe do is reflected in the esprit de corps\nthat permeates our company. Whether\ndriving toward industry-leading safety\nperformance, implementing innovative\ntechnology in our manufacturing\nprocesses, or ensuring we consistently\nexceed customer expectations, our team\nmembers vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record\nannual 2022 steel shipments of 12.2\nmillion tons. Our steel processing and\nconversion locations, along with our\nfabrication platform, transferred over\n1.7 million tons of steel internally, or\n14% of our total 2022 steel shipments,\nsupporting our steel mills by providing\na powerful utilization lever.\nThe domestic steel industry benefited\nfrom steady steel consumption and\nstrong pricing through most of 2022,\nbut as customers began to destock\ninventories, flat rolled steel prices\ndeclined in the second half, before\nfirming at the end of the year. Coupled\nwith our strategic growth initiatives,\nwe achieved strong profit margins\nand volume during the year, resulting\nin historically strong steel operating\nincome of $3.1 billion, representing our\nsecond best year.\n3\nOur steel mills operated at 92% of\ncapability, compared to the domestic\nsteel industry rate of 78%. We\nconsistently realize higher production\nutilization than our peers, as a result\nof our diversified product portfolio\nand end markets, emphasis on higher\nvalue-added steels, unique supply-chain\nofferings, consistent customer focus,\nand vertically connected businesses.\nSTEEL FABRICATION\nOur steel fabrication operations\nachieved record annual shipments and\noperating income, as non-residential\nconstruction demand continued to\ngrow during 2022. The team excels\nas a result of superior customer\nservice, a national geographic service\ncapability, and a highly engineered\ncomplementary product mix.\nOperating income for our steel\nfabrication platform increased to a\nrecord $2.4 billion in 2022. Our vertical\nmanufacturing model provides a\nnatural hedge to steel price volatility.\nMETALS RECYCLING\nOur metals recycling platform also\nhad a strong performance, as they\ncontinued to work synergistically with\nour steel mills to ensure the supply of\nlow-cost, high-quality raw materials,\ninternally supplying almost 3.5 million\ntons of ferrous material in 2022. The\nteam’s continued focus on efficiency\ngains yielded sustainable positive\nresults, although earnings decreased\nduring the year as ferrous scrap prices\ndeclined throughout m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000339_revenue",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "22.3bn consolidated revenues",
      "golden_context": "Page 3:\n\nFROM MARK\nD. MILLETT\nCO-FOUNDER, CHAIRMAN, AND CEO\nOn behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities,\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation,\nand dedication to excellence. The entire\nSteel Dynamics team delivered a record\nperformance during 2022. Our strategic\ngrowth and market positioning over the\nRecord Operating Income\n$5,092\n$4,301\n$1,722\n$987 $847\n2018\n$3.9B\nRecord 2022\nNet Income\n2019 2020\n2021 2022\nMillions of Dollars\nlast number of years were fundamental\nto our current performance. We\nachieved numerous milestones and\nperformed at the top of our industry,\nboth operationally and financially.\nOn most every measure, 2022 was\na record year. Our steel and steel\nfabrication operations achieved\nrecord shipments, increasing 2022\nconsolidated revenues to a record\n$22.3 billion. We expanded profit\nmargins within our steel fabrication\noperations and achieved record\nannual consolidated operating\nincome of $5.1 billion and record net\nincome of $3.9 billion.\nWe generated record cash flow from\noperations of $4.5 billion, and record\nadjusted EBITDA of $5.5 billion during\n2022. We ended 2022 with record\nliquidity of $3.4 billion, while at the\nsame time meaningfully growing our\nbusiness through significant organic\ngrowth investments, maintaining a\npositive cash dividend profile, and\nexecuting on our share repurchase\nprogram. We have a firm foundation\nfor our continued long-term, strategic\ngrowth, and ongoing value creation.\nOur performance is truly a testament\nto the passion, commitment, and\nspirit of excellence that drive our\nteams. Across the company, our teams\nachieved best-in-class performance,\nwhile keeping each other healthy and\nsafe. I am proud to work alongside\neach of them.\nOUR RESOURCES\nOur commitment to all aspects of\nsustainability is embedded in our\nfounding principles—valuing our\npeople, our partners, our communities,\nand our environment. These strategic\nprinciples drive long-term value\ncreation for all of us.\n2\n2022 Annual Report\nThe health and safety of our people\nis our number one value and\nprimary focus. Nothing surpasses the\nimportance of each individual team\nmember. Safety is an integral part of\nour culture, and we must collectively\nensure every person is personally\nengaged in sustaining a safe workplace\nfor themselves, their team members,\nand their families.\nWe are also committed to operating\nour business in an environmentally\nresponsible manner and have been\nsince our founding. Our steel mills\nproduce steel exclusively utilizing\nelectric arc furnace (EAF) technology,\nwhich uses recycled ferrous scrap\nas the primary raw material. This\nmethod of steelmaking has a much\nlower environmental impact when\ncompared to traditional steelmaking\ntechnology. With our EAF steelmaking,\nNorth American recycling business,\nand circular manufacturing model,\nSteel Dynamics is already a leader in\nthe production of lower-carbon steel\nproducts within the global industry.\nWe continue to encourage the\nresearch and use of new technologies\nand processes to further reduce our\nimpact on the environment, including\na strategic focus on lowering carbon\nemissions with a goal for our steel\nmills to be carbon neutral by 2050.\nOur sustainability and decarbonization\nstrategy is an ongoing journey, and\nwe plan to use our entrepreneurial,\ninnovative spirit to continue to be a\nleader in the industry.\nOUR OPERATIONS\nWe once again achieved best-in-class\nindustry performance on a number\nof key business measures, including\noperating margin, EBITDA margin,\nreturn on invested capital, and for\nour steel operations, profitability per\nsteel ton shipped. Our entrepreneurial\nculture is at the core of our success and\nis driven by our extensive performance-\nbased compensation philosophy for\nthose on the plant floor through those\nin senior leadership. Team members\nare passionate about delivering quality\nproducts and excellent service to\nour customers. Our common goal of\nconsistently achieving excellence in all\nEBITDA Margin1\n25%\nOutstanding Industry Performance\n25%\n17%\n12% 12%\n2018\n2019 2020 2021 2022\nSteel Dynamics Peer Group Average2 Peer Group Low2\n1\n_x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation, and amortization (excludes non-cash asset impairments).\nSee the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n² _x0007_ Peer group consists of Nucor, AK Steel: 2018 to 2019, Cleveland Cliffs: 2020 to 2022, US Steel, and Commercial Metals Company (CMC).\nSource: Respective SEC filings. CMC data for annual periods ended November 30.\nSteel Operations End Markets\n(Based on 2022 Steel Shipments)\n12.2M\nRecord Steel\nTons Shipped\nConstruction-Related 49%\nOther Manufacturing 17%\nAutomotive 10%\nTransportation & Rail 8%\nEnergy 6%\nAg. Equipment & Mining 6%\nNon-Energy Pipe & Tube 4%\nwe do is reflected in the esprit de corps\nthat permeates our company. Whether\ndriving toward industry-leading safety\nperformance, implementing innovative\ntechnology in our manufacturing\nprocesses, or ensuring we consistently\nexceed customer expectations, our team\nmembers vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record\nannual 2022 steel shipments of 12.2\nmillion tons. Our steel processing and\nconversion locations, along with our\nfabrication platform, transferred over\n1.7 million tons of steel internally, or\n14% of our total 2022 steel shipments,\nsupporting our steel mills by providing\na powerful utilization lever.\nThe domestic steel industry benefited\nfrom steady steel consumption and\nstrong pricing through most of 2022,\nbut as customers began to destock\ninventories, flat rolled steel prices\ndeclined in the second half, before\nfirming at the end of the year. Coupled\nwith our strategic growth initiatives,\nwe achieved strong profit margins\nand volume during the year, resulting\nin historically strong steel operating\nincome of $3.1 billion, representing our\nsecond best year.\n3\nOur steel mills operated at 92% of\ncapability, compared to the domestic\nsteel industry rate of 78%. We\nconsistently realize higher production\nutilization than our peers, as a result\nof our diversified product portfolio\nand end markets, emphasis on higher\nvalue-added steels, unique supply-chain\nofferings, consistent customer focus,\nand vertically connected businesses.\nSTEEL FABRICATION\nOur steel fabrication operations\nachieved record annual shipments and\noperating income, as non-residential\nconstruction demand continued to\ngrow during 2022. The team excels\nas a result of superior customer\nservice, a national geographic service\ncapability, and a highly engineered\ncomplementary product mix.\nOperating income for our steel\nfabrication platform increased to a\nrecord $2.4 billion in 2022. Our vertical\nmanufacturing model provides a\nnatural hedge to steel price volatility.\nMETALS RECYCLING\nOur metals recycling platform also\nhad a strong performance, as they\ncontinued to work synergistically with\nour steel mills to ensure the supply of\nlow-cost, high-quality raw materials,\ninternally supplying almost 3.5 million\ntons of ferrous material in 2022. The\nteam’s continued focus on efficiency\ngains yielded sustainable positive\nresults, although earnings decreased\nduring the year as ferrous scrap prices\ndeclined throughout m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000339_revenue_growth",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "22.3bn consolidated revenues, prior year 18409m",
      "golden_context": "Page 3:\n\nFROM MARK\nD. MILLETT\nCO-FOUNDER, CHAIRMAN, AND CEO\nOn behalf of everyone at Steel\nDynamics, I thank our loyal\ncustomers, vendors, communities,\nand shareholders for their continued\nsupport of our company. My heartfelt\nthanks to our extraordinary team\nmembers for your passion, innovation,\nand dedication to excellence. The entire\nSteel Dynamics team delivered a record\nperformance during 2022. Our strategic\ngrowth and market positioning over the\nRecord Operating Income\n$5,092\n$4,301\n$1,722\n$987 $847\n2018\n$3.9B\nRecord 2022\nNet Income\n2019 2020\n2021 2022\nMillions of Dollars\nlast number of years were fundamental\nto our current performance. We\nachieved numerous milestones and\nperformed at the top of our industry,\nboth operationally and financially.\nOn most every measure, 2022 was\na record year. Our steel and steel\nfabrication operations achieved\nrecord shipments, increasing 2022\nconsolidated revenues to a record\n$22.3 billion. We expanded profit\nmargins within our steel fabrication\noperations and achieved record\nannual consolidated operating\nincome of $5.1 billion and record net\nincome of $3.9 billion.\nWe generated record cash flow from\noperations of $4.5 billion, and record\nadjusted EBITDA of $5.5 billion during\n2022. We ended 2022 with record\nliquidity of $3.4 billion, while at the\nsame time meaningfully growing our\nbusiness through significant organic\ngrowth investments, maintaining a\npositive cash dividend profile, and\nexecuting on our share repurchase\nprogram. We have a firm foundation\nfor our continued long-term, strategic\ngrowth, and ongoing value creation.\nOur performance is truly a testament\nto the passion, commitment, and\nspirit of excellence that drive our\nteams. Across the company, our teams\nachieved best-in-class performance,\nwhile keeping each other healthy and\nsafe. I am proud to work alongside\neach of them.\nOUR RESOURCES\nOur commitment to all aspects of\nsustainability is embedded in our\nfounding principles—valuing our\npeople, our partners, our communities,\nand our environment. These strategic\nprinciples drive long-term value\ncreation for all of us.\n2\n2022 Annual Report\nThe health and safety of our people\nis our number one value and\nprimary focus. Nothing surpasses the\nimportance of each individual team\nmember. Safety is an integral part of\nour culture, and we must collectively\nensure every person is personally\nengaged in sustaining a safe workplace\nfor themselves, their team members,\nand their families.\nWe are also committed to operating\nour business in an environmentally\nresponsible manner and have been\nsince our founding. Our steel mills\nproduce steel exclusively utilizing\nelectric arc furnace (EAF) technology,\nwhich uses recycled ferrous scrap\nas the primary raw material. This\nmethod of steelmaking has a much\nlower environmental impact when\ncompared to traditional steelmaking\ntechnology. With our EAF steelmaking,\nNorth American recycling business,\nand circular manufacturing model,\nSteel Dynamics is already a leader in\nthe production of lower-carbon steel\nproducts within the global industry.\nWe continue to encourage the\nresearch and use of new technologies\nand processes to further reduce our\nimpact on the environment, including\na strategic focus on lowering carbon\nemissions with a goal for our steel\nmills to be carbon neutral by 2050.\nOur sustainability and decarbonization\nstrategy is an ongoing journey, and\nwe plan to use our entrepreneurial,\ninnovative spirit to continue to be a\nleader in the industry.\nOUR OPERATIONS\nWe once again achieved best-in-class\nindustry performance on a number\nof key business measures, including\noperating margin, EBITDA margin,\nreturn on invested capital, and for\nour steel operations, profitability per\nsteel ton shipped. Our entrepreneurial\nculture is at the core of our success and\nis driven by our extensive performance-\nbased compensation philosophy for\nthose on the plant floor through those\nin senior leadership. Team members\nare passionate about delivering quality\nproducts and excellent service to\nour customers. Our common goal of\nconsistently achieving excellence in all\nEBITDA Margin1\n25%\nOutstanding Industry Performance\n25%\n17%\n12% 12%\n2018\n2019 2020 2021 2022\nSteel Dynamics Peer Group Average2 Peer Group Low2\n1\n_x0007_ EBITDA is calculated as earnings before interest, taxes, depreciation, and amortization (excludes non-cash asset impairments).\nSee the reconciliation to GAAP net income for Steel Dynamics in the appendix to this presentation.\n² _x0007_ Peer group consists of Nucor, AK Steel: 2018 to 2019, Cleveland Cliffs: 2020 to 2022, US Steel, and Commercial Metals Company (CMC).\nSource: Respective SEC filings. CMC data for annual periods ended November 30.\nSteel Operations End Markets\n(Based on 2022 Steel Shipments)\n12.2M\nRecord Steel\nTons Shipped\nConstruction-Related 49%\nOther Manufacturing 17%\nAutomotive 10%\nTransportation & Rail 8%\nEnergy 6%\nAg. Equipment & Mining 6%\nNon-Energy Pipe & Tube 4%\nwe do is reflected in the esprit de corps\nthat permeates our company. Whether\ndriving toward industry-leading safety\nperformance, implementing innovative\ntechnology in our manufacturing\nprocesses, or ensuring we consistently\nexceed customer expectations, our team\nmembers vigorously pursue excellence.\nSTEEL\nOur steel operations achieved record\nannual 2022 steel shipments of 12.2\nmillion tons. Our steel processing and\nconversion locations, along with our\nfabrication platform, transferred over\n1.7 million tons of steel internally, or\n14% of our total 2022 steel shipments,\nsupporting our steel mills by providing\na powerful utilization lever.\nThe domestic steel industry benefited\nfrom steady steel consumption and\nstrong pricing through most of 2022,\nbut as customers began to destock\ninventories, flat rolled steel prices\ndeclined in the second half, before\nfirming at the end of the year. Coupled\nwith our strategic growth initiatives,\nwe achieved strong profit margins\nand volume during the year, resulting\nin historically strong steel operating\nincome of $3.1 billion, representing our\nsecond best year.\n3\nOur steel mills operated at 92% of\ncapability, compared to the domestic\nsteel industry rate of 78%. We\nconsistently realize higher production\nutilization than our peers, as a result\nof our diversified product portfolio\nand end markets, emphasis on higher\nvalue-added steels, unique supply-chain\nofferings, consistent customer focus,\nand vertically connected businesses.\nSTEEL FABRICATION\nOur steel fabrication operations\nachieved record annual shipments and\noperating income, as non-residential\nconstruction demand continued to\ngrow during 2022. The team excels\nas a result of superior customer\nservice, a national geographic service\ncapability, and a highly engineered\ncomplementary product mix.\nOperating income for our steel\nfabrication platform increased to a\nrecord $2.4 billion in 2022. Our vertical\nmanufacturing model provides a\nnatural hedge to steel price volatility.\nMETALS RECYCLING\nOur metals recycling platform also\nhad a strong performance, as they\ncontinued to work synergistically with\nour steel mills to ensure the supply of\nlow-cost, high-quality raw materials,\ninternally supplying almost 3.5 million\ntons of ferrous material in 2022. The\nteam’s continued focus on efficiency\ngains yielded sustainable positive\nresults, although earnings decreased\nduring the year as ferrous scrap prices\ndeclined throughout m\n\nPage 22:\n\ncted Financial Data\n(Millions of dollars, except share amounts) Net Sales Operating Income Net Income Attributable to SDI Net Income per Diluted Share Cash Flow from Operations Capital Investments Net Debt (long-term debt including current portion less\ncash and short-term investments)\nShares Outstanding (thousands) Dividends Declared per Share Adjusted EBITDA and Free\nCash Flow Reconciliation\n(Millions of dollars) Net Income (Loss) Income Taxes (Benefit) Net Interest Expense Depreciation Amortization Non-Controlling Interests 2011 $ 266 158 172 177 40 13 2012 $ 142 62 154 180 36 21 EBITDA Unrealized (Gains)/Losses Inventory Valuation Equity-Based Compensation Asset Impairment Charges Refinancing Charges $ 826 $ 595 (4) (3) 9 6 17 12 - 8 - 3 Adjusted EBITDA Less Capital Investments $ 848 167 $ 621 224 Free Cash Flow $ 681 $ 397 2018 $ 11,822 $ 1,722 $ 1,258 $ 5.35 $ 1,415 $ 239 $ 1,320 $ 225,272 $ 0.75 2013 2014 $ 164 $ 92 99 73 123 135 192 229 32 28 26 65 $ 636 $ 622 5 (5) 7 10 16 23 - 213 2 - $ 666 187 $ 863 112 $ 479 $ 751 2019 $ 10,465 $ 987 $ 671 $ 3.04 $ 1,396 $ 452 $ 1,091 $ 214,503 $ 0.96 2020 $ 9,601 $ 847 $ 551 $ 2.59 $ 987 $ 1,198 $ 1,790 $ 210,914 $ 1.00 2021 $ 18,409 $ 4,301 $ 3,214 $ 15.56 $ 2,204 $ 1,006 $ 1,912 $ 194,998 $ 1.04 2022\n$ 22,261\n$ 5,092\n$ 3,863\n$ 20.92\n$ 4,460\n$ 909\n$ 857\n$ 172,936\n$ 1.36\n2015 $ (145) (97) 153 263 25 15 2016 $ 360 204 141 261 29 22 2017 2018 $ 806 $ 1,256 129 124 265 29 364 104 283 28 7 3 2019 $ 678 197 99 286 30 (7) 2020 $ 571 135 85 291 29 (13) 2021 $ 3,247 962 56 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000339_segments",
      "report_id": "ID_000339",
      "company_name": "Steel Dynamics",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "steel operations, metals recycling operations, and steel fabrication operations",
      "golden_context": "Page 35:\n\nSegments\nWe have three reporting segments: steel operations, metals recycling operations, and steel fabrication\noperations. Refer to Notes 1 and 13 in the notes to consolidated financial statements in Part II, Item 8 of this\nForm 10-K for additional segment information.\nSteel Operations Segment\nSteel operations consist of our EAF steel mills, producing steel from ferrous scrap and scrap substitutes,\nutilizing continuous casting, automated rolling mills and numerous steel coating and processing lines. Our\nsteel operations sell directly to end-users, steel fabricators, and service centers. These products are used in\nnumerous industry sectors, including the construction, automotive, manufacturing, transportation, heavy and\nagriculture equipment, and pipe and tube (including OCTG) markets. Our steel operations accounted for 65%,\n72% and 74% of our consolidated net sales during 2022, 2021 and 2020, respectively. We currently are\npredominantly a domestic steel company, with exported sales representing 5% of our steel segment net sales\nduring 2022, and 4% during 2021 and 2020.\nOur steel operations consist primarily of steelmaking and numerous coating operations. In 2022, we had\napproximately 9.4 million tons of flat roll steel annual shipping capacity. We have an additional 2.0 million\ntons of flat roll steel shipping capacity through The Techs and our Heartland Flat Roll Division, as well as\ndistribution of metallic coated and pre-painted products through United Steel Supply (USS). We have annual\nflat roll galvanizing capability of 4.7 million tons and painting capability of 1.5 million tons. We also have\napproximately 4.6 million tons of long product steel capacity at our long products divisions.\nCapacities represent manufacturing capabilities based on steel mill configuration and related employee\nsupport. These capacities do not represent expected volumes in a given year. In addition, estimates of steel\nmill capacity are highly dependent on the specific product mix manufactured. Each of our steel mills can and\ndo roll many different types and si",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_cash_flow",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Free cash flow 2bn",
      "golden_context": "Page 26:\n\nSelected Financial Data\n(Millions of dollars, except share amounts) Net Sales Operating Income Net Income Attributable to SDI Net Income per Diluted Share Cash Flow from Operations Capital Investments Net Debt (long-term debt including current portion\nless cash and short-term investments)\nShares Outstanding (thousands) Dividends Declared per Share 2019 $ 10,465 $ 987 $ 671 $ 3.04 $ 1,396 $ 452 $ 1,091 214,503 $ 0.96 2020 $ 9,601 $ 847 $ 551 $ 2.59 $ 987 $ 1,198 $ 1,790 210,914 $ 1.00 2021 $ 18,409 $ 4,301 $ 3,214 $ 15.56 $ 2,204 $ 1,006 $ 1,912 194,998 $ 1.04 2022 $ 22,261 $ 5,092 $ 3,863 $ 20.92 $ 4,460 $ 909 $ 857 172,936 $ 1.36 2023\n$ 18,795\n$ 3,151\n$ 2,451\n$ 14.64\n$ 3,520\n$ 1,658\n$ 990\n160,018\n$ 1.70\nAdjusted EBITDA and Free Cash\nFlow Reconciliation\n(Millions of dollars) Net Income (Loss) Income Taxes (Benefit) Net Interest Expense (Income) Depreciation Amortization 2011 $ 266 158 172 177 40 2012 $ 142 62 154 180 36 2013 $ 164 99 123 192 32 2014 $ 92 73 135 229 28 2015 $ (145) (97) 153 263 25 2019 $ 678 197 99 286 30 2020 $ 571 135 85 291 29 2021 $ 3,247 962 56 312 29 2022 $ 3,879 1,142 62 350 28 2023\n$ 2,467\n752\n(35)\n397\n34\nEBITDA Unrealized (Gains)/Losses Equity-Based Compensation Asset Impairment Charges Refinancing Charges $ 813 $ 574 (4) (3) 17 12 - 8 - 3 $ 610 $ 557 5 (5) 16 23 - 213 2 - $ 199 29 429 $ 1,290 3 3 43 3 3 $ 1,111 $ 4,606 2 (2) 49 80 - 17 8 - $ 5,461 $ 3,615\n1 (12)\n69 60\n- - -\n- -\nAdjusted EBITDA Less Capital Investments $ 826 167 $ 594 224 $ 633 187 $ 788 112 $ 663 115 $ 1,339 452 $ 1,187 1,198 $ 4,684 1,006 $ 5,531 909 $ 3,663\n1,658\nFree Cash Flow $ 659 $ 370 $ 446 $ 676 $ 548 $ 887 $ (11) $ 3,678 $ 4,622 $ 2,005\nNote Regarding Non-GAAP Financial Measures\nThe company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_company_type",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 27:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nCommission File Number 0-21719\nSteel Dynamics, Inc.\n(Exact name of registrant as specified in its charter)\nIndiana 35-1929476\n(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)\n7575 West Jefferson Blvd, Fort Wayne, IN 46804\n(Zip Code)\nRegistrant’s telephone number, including area code: (260) 969-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock voting, $0.0025 par value NASDAQ Global Select Market\n(Address of principal executive offices) Trading Symbol Name of each exchange on which registered\nSTLD Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No □\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No □\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant\nto Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files). Yes ☒ No □\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting\ncompany,’’ and ‘‘emerging growth company’’ in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer □ Non-accelerated filer □ Smaller reporting company □\nEmerging growth company □\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. □\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). □\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes □ No ☒\nThe aggregate market value of the voting stock held by non-affiliates of the registrant computed by reference to the price at which the\ncommon equity was last sold as of June 30, 2023, was approximately $12.1 billion. Registrant has no non-voting shares. For purposes of\nthis calculation, shares of common stock held by directors, officers and 5% stockholders known to the registrant have been deemed to be\nowned by affiliates, but this should not be construed as an admission that any such person possesses the power, direct or indirect, to\ndirect or cause the direction of the management or policies of the registrant or that such person is c",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_key_financials",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "18.8bn revenue, 2.5bn net income, 3.5bn operating cash flow",
      "golden_context": "Page 3-6:\n\n30 Years\nof Strategic\nGrowth\nFounded in 1993, Steel Dynamics began as a steel company.\nToday, we are a leading lower-carbon emissions metals\nsolutions company, providing diversified high-quality products\nand enhanced supply-chain solutions. We are one of the largest\nand most diversified domestic steel producers, steel joist and\ndeck manufacturers, and metals recyclers in North America,\nwith best-in-class operating and financial metrics, including\nan average three-year return on invested capital of 32%—the\nhighest among the S&P 500® Index materials companies.\nGlobally, we have the fifth largest market capitalization in the\nsteel industry.\nSustainability is a part of our long-term value creation, and we are\ncommitted to our people, our communities, and our environment.\nOur unique, entrepreneurial culture and dedicated team have\ngiven rise to industry-first innovations, value-added products,\nand supply-chain solutions. We are grateful to our team members\nfor their commitment to operating safely and creating long-term\nvalue for all those involved with our company.\nTo our exceptional team, customers, vendors, shareholders,\nand communities, thank you for joining us on this incredible\njourney. We look forward to another 30 years of creating\npossibilities together.\n$18.8B\n2023 Revenue\n$2.5B\n2023 Net Income\n$3.5B\n2023 Operating Cash Flow\nFortune 200 Company\nS&P 500® Index Member\nInvestment Grade Ratings\nONE OF THE\nWORLD’S MOST\nADMIRED\nCOMPANIES\nONE OF\nAMERICA’S MOST\nTRUSTED\nCOMPANIES\nONE OF\nAMERICA’S BEST\nEMPLOYERS\nFOR VETERANS\nONE OF\nAMERICA’S BEST\nEMPLOYERS\nFOR WOMEN\nFORTUNE\n2023\nNEWSWEEK\n2023\nFORBES\n2023\nFORBES\n2023\nA Steel Company\nEvolved into a\nLeading Lower-Carbon\nEmissions Metals\nSolutions Company.\nNorth America\n2023\n7\nEAF Steel Mills\n12.6K\nTeam Members\n16M Tons\nSteel Shipping Capacity\n▶ Butler Flat Roll Division\nLargest Metals Recycler\nin North America\n2\nIndiana\n1993\n1\nEAF Steel Mill\nUnder Construction\n3\nTeam Members\n4th\nLargest Steel\nProducer in\nNorth America\n9\nSteel Processing\nOperations\n7\nSteel Fabrication\nOperations\n15\nFlat Roll Steel\nCoating Lines\n70+\nMetals Recycling\nOperations\n1\nCopper Rod and\nWire Operation\nContinued Growth\n2023+\n+4\nFlat Roll Coating Lines\n+1\nAluminum Flat Rolled Products Mill\n+2\nRecycled Aluminum Slab Centers\n+1\nBiocarbon Production Facility\n3\n“Our People Drive\nOur Success.”\nMark D. Millett\nCo-Founder, Chairman, and CEO\n4\n002\nA Letter from\nMark D. Millett\nCo-Founder, Chairman, and CEO\n$2.5B\n2023 Net Income\nbillion. We maintained our positive dividend profile, increasing\nthe cash dividend 25% per share in the first quarter of 2023,\nreturning $1.7 billion to our shareholders in the form of both\ncash dividends and share repurchases in 2023. We believe we\nare uniquely positioned to execute meaningful strategic growth\ninitiatives, while also continuing to return meaningful capital to\nshareholders and maintaining investment grade credit metrics.\nOn behalf of everyone at Steel Dynamics, I thank our loyal\ncustomers, vendors, communities, and shareholders for their\ncontinued support of our company. In particular, my heartfelt\nthanks to our extraordinary team members for their passion,\ninnovation, and commitment to excellence. The entire Steel\nDynamics team delivered another exceptional performance during\n2023. Our strategic growth and market positioning over the last\nseveral years, combined with our superior operating culture, were\nfundamental to our achieving numerous significant operational\nand financial milestones. Most gratifying was completing our best\nsafety year, with the lowest recordable incident rate ever. I want\nto applaud and congratulate all of our team members for the\nmonumental effort put forth to achieve this.\nIn 2023, we achieved revenues of $18.8 billion, representing\nour second-best year, and operating income of $3.2 billion,\nwith adjusted EBITDA of $3.7 billion.\nWe generated cash flow from operations of $3.5 billion during\n2023, ending the year with strong liquidity of $3.5 billion. We\nmade significant investments in our operations and our new\naluminum growth platform with capital expenditures of $1.7\nStrong Operating Income\n$5,092\n$4,301\n$3,151$3,151\n$987 $847\n2019 2020 2021 2022 2023\nMillions of Dollars\n5\n002\nOur Resources\nOur commitment to all aspects of sustainability is embedded in\nour founding principles—valuing our people, our partners, our\ncommunities, and our environment. These strategic principles\ndrive long-term value creation for all of us.\nThe health, safety, and welfare of our people is our number one\nvalue and primary focus. Nothing surpasses the importance\nof each individual team member. Safety is an integral part of\nour culture, and we strive to collectively ensure every person\nis personally engaged in sustaining a safe workplace for\nthemselves, their team members, and their families.\nWe are also committed to operating our business in an\nenvironmentally responsible manner and have been since\nour founding. Our steel mills produce steel exclusively utilizing\nelectric arc furnace (EAF) technology, which uses recycled\nferrous scrap as the primary raw material. This method of\nsteelmaking has a much lower environmental impact when\ncompared to traditional steelmaking technology. With our EAF\nsteelmaking, North American recycling business, and circular\nmanufacturing model, Steel Dynamics is already a leader in the\nproduction of lower-carbon steel products within the global\nindustry. We continue to encourage the research and use of\nnew technologies and processes to further reduce our impact\non the environment, including a strategic focus on lowering\ncarbon emissions with a goal for our steel mills to be carbon\nneutral by 2050.\nOur sustainability and decarbonization strategy is an ongoing\njourney, and we plan to use our entrepreneurial, innovative spirit\nto continue to be a leader in the industry.\nOur Operations\nThe team achieved a strong performance on a number of\nkey business measures, including operating margin, EBITDA\nmargin, and return on invested capital. Our entrepreneurial\nculture is a core element of our success and is driven by our\nextensive performance-based compensation philosophy\nutilized throughout the company at all levels. Team members\nare passionate about delivering quality products and excellent\nservice to our customers. Whether driving toward industry-\nleading safety performance, implementing innovative\ntechnologies, or ensuring we consistently exceed customer\nexpectations, our team members vigorously pursue excellence.\nSteel\nThe domestic steel industry benefited from steady steel\nconsumption, low customer inventories, and strong pricing in\n2023. Coupled with the exe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_revenue",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "18.8bn revenue",
      "golden_context": "Page 26:\n\nSelected Financial Data\n(Millions of dollars, except share amounts) Net Sales Operating Income Net Income Attributable to SDI Net Income per Diluted Share Cash Flow from Operations Capital Investments Net Debt (long-term debt including current portion\nless cash and short-term investments)\nShares Outstanding (thousands) Dividends Declared per Share 2019 $ 10,465 $ 987 $ 671 $ 3.04 $ 1,396 $ 452 $ 1,091 214,503 $ 0.96 2020 $ 9,601 $ 847 $ 551 $ 2.59 $ 987 $ 1,198 $ 1,790 210,914 $ 1.00 2021 $ 18,409 $ 4,301 $ 3,214 $ 15.56 $ 2,204 $ 1,006 $ 1,912 194,998 $ 1.04 2022 $ 22,261 $ 5,092 $ 3,863 $ 20.92 $ 4,460 $ 909 $ 857 172,936 $ 1.36 2023\n$ 18,795\n$ 3,151\n$ 2,451\n$ 14.64\n$ 3,520\n$ 1,658\n$ 990\n160,018\n$ 1.70\nAdjusted EBITDA and Free Cash\nFlow Reconciliation\n(Millions of dollars) Net Income (Loss) Income Taxes (Benefit) Net Interest Expense (Income) Depreciation Amortization 2011 $ 266 158 172 177 40 2012 $ 142 62 154 180 36 2013 $ 164 99 123 192 32 2014 $ 92 73 135 229 28 2015 $ (145) (97) 153 263 25 2019 $ 678 197 99 286 30 2020 $ 571 135 85 291 29 2021 $ 3,247 962 56 312 29 2022 $ 3,879 1,142 62 350 28 2023\n$ 2,467\n752\n(35)\n397\n34\nEBITDA Unrealized (Gains)/Losses Equity-Based Compensation Asset Impairment Charges Refinancing Charges $ 813 $ 574 (4) (3) 17 12 - 8 - 3 $ 610 $ 557 5 (5) 16 23 - 213 2 - $ 199 29 429 $ 1,290 3 3 43 3 3 $ 1,111 $ 4,606 2 (2) 49 80 - 17 8 - $ 5,461 $ 3,615\n1 (12)\n69 60\n- - -\n- -\nAdjusted EBITDA Less Capital Investments $ 826 167 $ 594 224 $ 633 187 $ 788 112 $ 663 115 $ 1,339 452 $ 1,187 1,198 $ 4,684 1,006 $ 5,531 909 $ 3,663\n1,658\nFree Cash Flow $ 659 $ 370 $ 446 $ 676 $ 548 $ 887 $ (11) $ 3,678 $ 4,622 $ 2,005\nNote Regarding Non-GAAP Financial Measures\nThe company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_revenue_growth",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "18.8bn revenue, 22bn in the prior year",
      "golden_context": "Page 26:\n\nSelected Financial Data\n(Millions of dollars, except share amounts) Net Sales Operating Income Net Income Attributable to SDI Net Income per Diluted Share Cash Flow from Operations Capital Investments Net Debt (long-term debt including current portion\nless cash and short-term investments)\nShares Outstanding (thousands) Dividends Declared per Share 2019 $ 10,465 $ 987 $ 671 $ 3.04 $ 1,396 $ 452 $ 1,091 214,503 $ 0.96 2020 $ 9,601 $ 847 $ 551 $ 2.59 $ 987 $ 1,198 $ 1,790 210,914 $ 1.00 2021 $ 18,409 $ 4,301 $ 3,214 $ 15.56 $ 2,204 $ 1,006 $ 1,912 194,998 $ 1.04 2022 $ 22,261 $ 5,092 $ 3,863 $ 20.92 $ 4,460 $ 909 $ 857 172,936 $ 1.36 2023\n$ 18,795\n$ 3,151\n$ 2,451\n$ 14.64\n$ 3,520\n$ 1,658\n$ 990\n160,018\n$ 1.70\nAdjusted EBITDA and Free Cash\nFlow Reconciliation\n(Millions of dollars) Net Income (Loss) Income Taxes (Benefit) Net Interest Expense (Income) Depreciation Amortization 2011 $ 266 158 172 177 40 2012 $ 142 62 154 180 36 2013 $ 164 99 123 192 32 2014 $ 92 73 135 229 28 2015 $ (145) (97) 153 263 25 2019 $ 678 197 99 286 30 2020 $ 571 135 85 291 29 2021 $ 3,247 962 56 312 29 2022 $ 3,879 1,142 62 350 28 2023\n$ 2,467\n752\n(35)\n397\n34\nEBITDA Unrealized (Gains)/Losses Equity-Based Compensation Asset Impairment Charges Refinancing Charges $ 813 $ 574 (4) (3) 17 12 - 8 - 3 $ 610 $ 557 5 (5) 16 23 - 213 2 - $ 199 29 429 $ 1,290 3 3 43 3 3 $ 1,111 $ 4,606 2 (2) 49 80 - 17 8 - $ 5,461 $ 3,615\n1 (12)\n69 60\n- - -\n- -\nAdjusted EBITDA Less Capital Investments $ 826 167 $ 594 224 $ 633 187 $ 788 112 $ 663 115 $ 1,339 452 $ 1,187 1,198 $ 4,684 1,006 $ 5,531 909 $ 3,663\n1,658\nFree Cash Flow $ 659 $ 370 $ 446 $ 676 $ 548 $ 887 $ (11) $ 3,678 $ 4,622 $ 2,005\nNote Regarding Non-GAAP Financial Measures\nThe company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000340_segments",
      "report_id": "ID_000340",
      "company_name": "Steel Dynamics",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "steel operations (including warehousing operations previously included in ‘‘Other’’), metals recycling operations, steel fabrication operations, and our new aluminum operations",
      "golden_context": "Page 39:\n\nSegments\nIn the fourth quarter 2023, we changed our reportable segments, consistent with how we currently\nmanage the business, which include steel operations (including warehousing operations previously included in\n‘‘Other’’), metals recycling operations, steel fabrication operations, and our new aluminum operations.\nSegment information provided within this Form 10-K has been recast for all prior periods presented,\nconsistent with the current reportable segment presentation. Refer to Notes 1 and 13 in the notes to\nconsolidated financial statements in Part II, Item 8 of this Form 10-K for additional segment information.\nSteel Operations Segment\nSteel operations consist of our EAF steel mills, producing steel from ferrous scrap and scrap substitutes,\nutilizing continuous casting, automated rolling mills and numerous steel coating, processing lines and\nwarehouse operations. Our steel operations sell directly to end-users, steel fabricators, and service centers.\nThese products are used in numerous industry sectors, including the construction, automotive, manufacturing,\ntransportation, heavy and agriculture equipment, energy, and pipe and tube (including OCTG) markets. Our\nsteel operations accounted for 67%, 65% and 72% of our consolidated net sales during 2023, 2022 and 2021,\nrespectively. We are predominantly a domestic steel company with growing sales in Mexico. Exported sales\nrepresented 8%, 5%, and 4% of our steel segment net sales during 2023, 2022 and 2021, respectively.\nOur steel operations consist primarily of steelmaking and numerous coating operations. In 2023, we had\napproximately 9.4 million tons of flat roll steel annual production capacity. We have an additional 2.0 million\ntons of flat roll steel processing capacity through The Techs and our Heartland Flat Roll Division, as well as\ndistribution of metallic coated and pre-painted products through United Steel Supply (USS). We have annual\nflat roll galvanizing capability of 4.8 million tons and painting capability of 1.5 million tons. We also have\napproximately 4.6 million tons of long product steel capacity at our long products divisions.\nCapacities represent manufacturing capabilities based on steel mill configuration and related team\nmember support. These capacities do not represent expected volumes in a given year. In addition, estimates of\nsteel mill capacity are highly dependent on the specific product mix manufactured. Each of our steel mills can\nand do roll many different types and sizes of products; therefore, our capacity estimates assume a typical\nproduct mix.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_cash_flow",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1945.4m, investing: -709.2m, financing: -1391m",
      "golden_context": "Page 47:\n\nOMNICOM GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nYear Ended December 31,\n2021 2020 2019\nCash Flows from Operating Activities:\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization of right-of-use assets . . . . . . . . . . . . . . . . . . . . . . . . . . Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amortization of net deferred gain on interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . Share-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on disposition of subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . COVID-19 repositioning costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nOther, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Increase in operating capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Cash Provided By Operating Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash Flows from Investing Activities:\nCapital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisition of businesses and interests in affiliates, net of cash acquired . . . . . . . . . . . . . Proceeds from disposition of subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of investments and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Cash Used In Investing Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash Flows from Financing Activities:\nProceeds from borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repayment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Change in short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid to common shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repurchases of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from stock plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisition of additional noncontrolling interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid to noncontrolling interest shareholders . . . . . . . . . . . . . . . . . . . . . . . . . Payment of contingent purchase price obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Cash Used In Financing Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Effect of foreign exchange rate changes on cash and cash equivalents . . . . . . . . . . . . . . . . . Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and Cash Equivalents at the Beginning of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and Cash Equivalents at the End of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,507.6 $ 1,020.8 $ 1,435.9\n132.1 80.0 (8.8) 84.7 (50.5) 39.8 160.5 139.5 147.7\n83.1 83.8\n(8.1) (14.8)\n70.8 72.5\n— —\n— 277.9 —\n109.7 5.8\n30.9 125.1\n1,945.4 1,724.6 1,856.0\n(665.8) (160.0) 114.1 2.5 (75.4) (67.1) 3.2 3.2 (102.2)\n(10.0)\n79.4\n1.9\n(709.2) (136.1) (30.9)\n1,221.3 (1,250.0) 6.4 (592.3) (527.3) 9.1 (21.9) (113.1) (22.6) (100.6) 1,186.6 (600.0) (5.6) (562.7) (222.0) 4.1 (22.3) (95.5) (31.2) (59.8) 1,112.4\n(900.0)\n2.0\n(564.3)\n(610.2)\n6.5\n(51.4)\n(97.3)\n(64.6)\n(55.1)\n(1,391.0) (408.4) (1,222.0)\n(128.9) 114.7 50.2\n(283.7) 5,600.5 1,294.8 4,305.7 653.3\n3,652.4\n$ 5,316.8 $ 5,600.5 $ 4,305.7",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_company_type",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2021\nCommission File Number: 1-10551\nName of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nOMNICOM GROUP INC.\n(Exact name of registrant as specified in its charter)\nNew York\n(State or other jurisdiction of\n13-1514814\n(I.R.S. Employer Identification No.)\nincorporation or organization)\n280 Park Avenue, New York, NY\n(Address of principal executive offices)\n10017\n(Zip Code)\nRegistrant’s telephone number, including area code: (212) 415-3600\nTitle of each class Common Stock, $0.15 Par Value 0.800% Senior Notes due 2027 1.400% Senior Notes due 2031 2.250% Senior Notes due 2033 Securities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbols OMC OMC/27 OMC/31 OMC/33 Securities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file\nsuch reports) and (2) has been subject to such filing requirements for the past 90 days.\nYes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files).\nYes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_key_financials",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue 14289.4m, EBITA 2277.9m, operating profit 2197.9m",
      "golden_context": "Page 21:\n\nWe use EBITA and EBITA Margin as additional operating performance measures that exclude the non-cash amortization\nexpense of intangible assets, which primarily consists of amortization of intangible assets arising from acquisitions. We define\nEBITA as earnings before interest, taxes and amortization of intangible assets, and EBITA Margin as EBITA divided by revenue.\nEBITA and EBITA Margin are non-GAAP financial measures. We believe that EBITA and EBITA Margin are useful measures for\ninvestors to evaluate the performance of our business. Non-GAAP financial measures should not be considered in isolation from, or\nas a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP financial measures reported by us\nmay not be comparable to similarly titled amounts reported by other companies.\nThe following table reconciles the U.S. GAAP financial measure of net income\n-\nOmnicom Group Inc. to EBITA and EBITA\nMargin for the periods presented (in millions):\nYear Ended December 31,\n2021 2020\n$ 1,407.8 99.8 $ 945.4\n75.4\n1,507.6 7.5 488.7 1,020.8\n(6.8)\n381.7\n1,988.8 236.4 27.3 1,409.3\n221.8\n32.3\n2,197.9 80.0 1,598.8\n83.1\n$ 2,277.9 $ 1,681.9\nNet Income\n-\nOmnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income Attributed To Noncontrolling Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (Loss) From Equity Method Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Tax Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Before Income Taxes and Income (Loss) From Equity Method Investments . . . . . . . . . . . . Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add back: Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Earnings before interest, taxes and amortization of intangible assets (“EBITA”) . . . . . . . . . . . . . . . . Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITA Margin - % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,289.4 $ 2,277.9 15.9% $13,171.1\n$ 1,681.9\n12.8%\nRevenue\nIn 2021, our revenue increased $1,118.3 million, or 8.5%, compared to 2020. Changes in foreign exchange rates increased\nrevenue 2.2%, acquisition revenue, net of disposition revenue, reduced revenue 3.9%, and organic growth increased revenue\n10.2%. The reduction in acquisition revenue, net of disposition revenue, reflects the sale of ICON in the second quarter of 2021.\nIn 2021, our business experienced a recovery from the negative effects of the COVID-19 pandemic in all our disciplines and\nregional markets as compared to 2020. The negative effects from the pandemic did not significantly impact our major markets\nand businesses until late in the first quarter of 2020. As a result, the improvement in revenue in 2021 versus the prior year was\ndriven by the recovery in the second, third and fourth quarters of 2021 as compared to the prior year. The change in revenue\nacross our principal regional markets were: North America increased $132.6 million, Europe increased $611.9 million, Asia-Pacific\nincreased $292.7 million and Latin America increased $20.7 million. In North America, improved organic revenue growth in\nthe United States and Canada was partially of\n\nPage 7:\n\nnds for marketing effectiveness and efficiency, they tend to continue to consolidate their business within\none or a small number of service providers in the pursuit of a single engagement covering all consumer touch points. We have\nstructured our business around these trends. We believe that our key client matrix organization structure approach to collaboration\nand integration of our services and solutions provides a competitive advantage to our business in the past and we expect this to\ncontinue over the medium and long term. Our key client matrix organization structure facilitates superior client management\nand allows for greater integration of the services required by the world’s largest brands. Our overarching strategy is to continue\nto use our virtual client networks to grow our business relationships with our largest clients by serving them across our networks,\ndisciplines and geographies.\nAs the impact of the COVID-19 pandemic on the global economy moderated, we experienced improvement in our business\nin 2021 as compared to 2020. In 2021, revenue increased $1,118.3 million, or 8.5%, compared to 2020. The increase in revenue\nprimarily reflects increased client spending in all our disciplines and across all our geographic areas compared to the prior year and\nthe strengthening of most foreign currencies, primarily the British Pound and the Euro, against the U.S. Dollar. The increase in\nrevenue year-over-year was impacted by a reduction in acquisition revenue, net of disposition revenue, primarily due to the sale of a\nspecialty media business in the second quarter of 2021.\nGlobal economic conditions may continue to be volatile as long as the COVID-19 pandemic remains a public health threat.\nWe expect global economic performance and the performance of our businesses to vary by geography and discipline until the\nimpact of the COVID-19 pandemic on the global economy subsides.\nWe continually evaluate our portfolio of businesses to identify areas for investment and acquisition opportunities, as well as\nto identify non-strategic or underperforming businesses for disposition. For information about our acquisitions and dispositions,\nsee Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A, - Acquisitions\nand Goodwill and Notes 5 and 13, respectively, to the consolidated financial statements. In the three years ended December 31,\n2021, none of our acquisitions or dispositions, individually or in the aggregate, was material to our results of operations or\nfinancial position.\nThe various components of our business, including revenue by discipline and geographic area, and material factors that\naffected us in 2021, are discussed in the MD&A.\nOur Clients\nOur clients operate in virtually every sector of the global economy. In many cases, multiple agencies or networks serve\ndifferent brands, product groups or both within the same client. For example, in 2021 our largest client represented 3.2% of\nrevenue and was served by approximately 110 of our agencies. Our 100 largest clients, many of which represent the largest global\nmarketers, represented approximately 54% of revenue and were each served, on average, by approximately 52 of our agencies.\nGovernment Regulations\nWe are subject to various local, state and federal laws and regulations in the countries in which we conduct business.\nCompliance with these laws and regulations in the normal course of business did not have a material effect on our business, results\nof operations or financial position. Additional information regarding the impact of government regulations on our business is\nincluded in Item 1A. Risk Factors\n-\nRegulatory Risks.\nHuman Capital Resources/Environmental, S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_revenue",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue 14289.4m",
      "golden_context": "Page 21:\n\nWe use EBITA and EBITA Margin as additional operating performance measures that exclude the non-cash amortization\nexpense of intangible assets, which primarily consists of amortization of intangible assets arising from acquisitions. We define\nEBITA as earnings before interest, taxes and amortization of intangible assets, and EBITA Margin as EBITA divided by revenue.\nEBITA and EBITA Margin are non-GAAP financial measures. We believe that EBITA and EBITA Margin are useful measures for\ninvestors to evaluate the performance of our business. Non-GAAP financial measures should not be considered in isolation from, or\nas a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP financial measures reported by us\nmay not be comparable to similarly titled amounts reported by other companies.\nThe following table reconciles the U.S. GAAP financial measure of net income\n-\nOmnicom Group Inc. to EBITA and EBITA\nMargin for the periods presented (in millions):\nYear Ended December 31,\n2021 2020\n$ 1,407.8 99.8 $ 945.4\n75.4\n1,507.6 7.5 488.7 1,020.8\n(6.8)\n381.7\n1,988.8 236.4 27.3 1,409.3\n221.8\n32.3\n2,197.9 80.0 1,598.8\n83.1\n$ 2,277.9 $ 1,681.9\nNet Income\n-\nOmnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income Attributed To Noncontrolling Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (Loss) From Equity Method Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Tax Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Before Income Taxes and Income (Loss) From Equity Method Investments . . . . . . . . . . . . Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add back: Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Earnings before interest, taxes and amortization of intangible assets (“EBITA”) . . . . . . . . . . . . . . . . Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITA Margin - % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,289.4 $ 2,277.9 15.9% $13,171.1\n$ 1,681.9\n12.8%\nRevenue\nIn 2021, our revenue increased $1,118.3 million, or 8.5%, compared to 2020. Changes in foreign exchange rates increased\nrevenue 2.2%, acquisition revenue, net of disposition revenue, reduced revenue 3.9%, and organic growth increased revenue\n10.2%. The reduction in acquisition revenue, net of disposition revenue, reflects the sale of ICON in the second quarter of 2021.\nIn 2021, our business experienced a recovery from the negative effects of the COVID-19 pandemic in all our disciplines and\nregional markets as compared to 2020. The negative effects from the pandemic did not significantly impact our major markets\nand businesses until late in the first quarter of 2020. As a result, the improvement in revenue in 2021 versus the prior year was\ndriven by the recovery in the second, third and fourth quarters of 2021 as compared to the prior year. The change in revenue\nacross our principal regional markets were: North America increased $132.6 million, Europe increased $611.9 million, Asia-Pacific\nincreased $292.7 million and Latin America increased $20.7 million. In North America, improved organic revenue growth in\nthe United States and Canada was partially of\n\nPage 7:\n\nnds for marketing effectiveness and efficiency, they tend to continue to consolidate their business within\none or a small number of service providers in the pursuit of a single engagement covering all consumer touch points. We have\nstructured our business around these trends. We believe that our key client matrix organization structure approach to collaboration\nand integration of our services and solutions provides a competitive advantage to our business in the past and we expect this to\ncontinue over the medium and long term. Our key client matrix organization structure facilitates superior client management\nand allows for greater integration of the services required by the world’s largest brands. Our overarching strategy is to continue\nto use our virtual client networks to grow our business relationships with our largest clients by serving them across our networks,\ndisciplines and geographies.\nAs the impact of the COVID-19 pandemic on the global economy moderated, we experienced improvement in our business\nin 2021 as compared to 2020. In 2021, revenue increased $1,118.3 million, or 8.5%, compared to 2020. The increase in revenue\nprimarily reflects increased client spending in all our disciplines and across all our geographic areas compared to the prior year and\nthe strengthening of most foreign currencies, primarily the British Pound and the Euro, against the U.S. Dollar. The increase in\nrevenue year-over-year was impacted by a reduction in acquisition revenue, net of disposition revenue, primarily due to the sale of a\nspecialty media business in the second quarter of 2021.\nGlobal economic conditions may continue to be volatile as long as the COVID-19 pandemic remains a public health threat.\nWe expect global economic performance and the performance of our businesses to vary by geography and discipline until the\nimpact of the COVID-19 pandemic on the global economy subsides.\nWe continually evaluate our portfolio of businesses to identify areas for investment and acquisition opportunities, as well as\nto identify non-strategic or underperforming businesses for disposition. For information about our acquisitions and dispositions,\nsee Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A, - Acquisitions\nand Goodwill and Notes 5 and 13, respectively, to the consolidated financial statements. In the three years ended December 31,\n2021, none of our acquisitions or dispositions, individually or in the aggregate, was material to our results of operations or\nfinancial position.\nThe various components of our business, including revenue by discipline and geographic area, and material factors that\naffected us in 2021, are discussed in the MD&A.\nOur Clients\nOur clients operate in virtually every sector of the global economy. In many cases, multiple agencies or networks serve\ndifferent brands, product groups or both within the same client. For example, in 2021 our largest client represented 3.2% of\nrevenue and was served by approximately 110 of our agencies. Our 100 largest clients, many of which represent the largest global\nmarketers, represented approximately 54% of revenue and were each served, on average, by approximately 52 of our agencies.\nGovernment Regulations\nWe are subject to various local, state and federal laws and regulations in the countries in which we conduct business.\nCompliance with these laws and regulations in the normal course of business did not have a material effect on our business, results\nof operations or financial position. Additional information regarding the impact of government regulations on our business is\nincluded in Item 1A. Risk Factors\n-\nRegulatory Risks.\nHuman Capital Resources/Environmental, S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_revenue_growth",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "8.5% revenue growth",
      "golden_context": "Page 7:\n\nnds for marketing effectiveness and efficiency, they tend to continue to consolidate their business within\none or a small number of service providers in the pursuit of a single engagement covering all consumer touch points. We have\nstructured our business around these trends. We believe that our key client matrix organization structure approach to collaboration\nand integration of our services and solutions provides a competitive advantage to our business in the past and we expect this to\ncontinue over the medium and long term. Our key client matrix organization structure facilitates superior client management\nand allows for greater integration of the services required by the world’s largest brands. Our overarching strategy is to continue\nto use our virtual client networks to grow our business relationships with our largest clients by serving them across our networks,\ndisciplines and geographies.\nAs the impact of the COVID-19 pandemic on the global economy moderated, we experienced improvement in our business\nin 2021 as compared to 2020. In 2021, revenue increased $1,118.3 million, or 8.5%, compared to 2020. The increase in revenue\nprimarily reflects increased client spending in all our disciplines and across all our geographic areas compared to the prior year and\nthe strengthening of most foreign currencies, primarily the British Pound and the Euro, against the U.S. Dollar. The increase in\nrevenue year-over-year was impacted by a reduction in acquisition revenue, net of disposition revenue, primarily due to the sale of a\nspecialty media business in the second quarter of 2021.\nGlobal economic conditions may continue to be volatile as long as the COVID-19 pandemic remains a public health threat.\nWe expect global economic performance and the performance of our businesses to vary by geography and discipline until the\nimpact of the COVID-19 pandemic on the global economy subsides.\nWe continually evaluate our portfolio of businesses to identify areas for investment and acquisition opportunities, as well as\nto identify non-strategic or underperforming businesses for disposition. For information about our acquisitions and dispositions,\nsee Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A, - Acquisitions\nand Goodwill and Notes 5 and 13, respectively, to the consolidated financial statements. In the three years ended December 31,\n2021, none of our acquisitions or dispositions, individually or in the aggregate, was material to our results of operations or\nfinancial position.\nThe various components of our business, including revenue by discipline and geographic area, and material factors that\naffected us in 2021, are discussed in the MD&A.\nOur Clients\nOur clients operate in virtually every sector of the global economy. In many cases, multiple agencies or networks serve\ndifferent brands, product groups or both within the same client. For example, in 2021 our largest client represented 3.2% of\nrevenue and was served by approximately 110 of our agencies. Our 100 largest clients, many of which represent the largest global\nmarketers, represented approximately 54% of revenue and were each served, on average, by approximately 52 of our agencies.\nGovernment Regulations\nWe are subject to various local, state and federal laws and regulations in the countries in which we conduct business.\nCompliance with these laws and regulations in the normal course of business did not have a material effect on our business, results\nof operations or financial position. Additional information regarding the impact of government regulations on our business is\nincluded in Item 1A. Risk Factors\n-\nRegulatory Risks.\nHuman Capital Resources/Environmental, S",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000341_segments",
      "report_id": "ID_000341",
      "company_name": "Omnicom",
      "year": 2021,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "One operating segment",
      "golden_context": "Page 59:\n\n . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Early redemption payments and other fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pension and other interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $167.3 43.4 35.3 (9.6) $178.6 14.1 38.0 (8.9) $185.7\n14.1\n53.2\n(8.7)\n$236.4 $221.8 $244.3\n8. Segment Reporting\nOur branded agency networks operate in the advertising, marketing and corporate communications services industry, and\nare organized into agency networks, virtual client networks, regional reporting units and operating groups or practice areas.\nOur networks, virtual client networks and agencies increasingly share clients and provide clients with integrated services. The\nmain economic components of each agency are employee compensation and related costs and direct service costs and occupancy\nand other costs which include rent and occupancy costs, technology costs and other overhead expenses. Therefore, given these\nsimilarities, we aggregate our operating segments, which are our agency networks, into one reporting segment. In June 2021, we\ncombined certain practice areas into a new reporting unit that primarily comprises the Omnicom Public Relations Group and\nassigned a segment manager to that reporting unit. As a result, the number of operating segments increased from five to six.\nThe agency networks’ regional reporting units comprise three principal regions: the Americas, EMEA and Asia-Pacific.\nThe regional reporting units monitor the performance and are responsible for the agencies in their region. Agencies within\nthe regional reporting units serve similar clients in similar industries and in many cases the same clients and have similar\neconomic characteristics.\nRevenue and long-lived assets and goodwill by geographic region were (in millions):\nAmericas EMEA Asia-Pacific\nDecember 31, 2021\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 31, 2020\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 31, 2019\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000342_cash_flow",
      "report_id": "ID_000342",
      "company_name": "Omnicom",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "operating: 926.5m, investing: -380.9m, financing: -1362m",
      "golden_context": "Page 47:\n\nOMNICOM GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nYear Ended December 31,\n2022 2021 2020\nCash Flows from Operating Activities:\nNet income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization of right-of-use assets . . . . . . . . . . . . . . . . . . . . . . . Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amortization of net deferred (gain) loss on interest rate swaps . . . . . . . . . . . . . . . . Share-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Non-cash charges related to the effects of the war in Ukraine . . . . . . . . . . . . . . . . . Gain on disposition of subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nCOVID-19 repositioning costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nOther, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Increase (decrease) in operating capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Cash Provided By Operating Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash Flows from Investing Activities:\nCapital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisition of businesses and interests in affiliates, net of cash acquired . . . . . . . . . . . Proceeds from disposition of subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nProceeds (purchases) from sale of investments and other . . . . . . . . . . . . . . . . . . . . . . Net Cash Used In Investing Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash Flows from Financing Activities:\nProceeds from borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nRepayment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nChange in short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid to common shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repurchases of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from stock plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acquisition of additional noncontrolling interests . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends paid to noncontrolling interest shareholders . . . . . . . . . . . . . . . . . . . . . . . Payment of contingent purchase price obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . Other, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Cash Used In Financing Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Effect of foreign exchange rate changes on cash and cash equivalents . . . . . . . . . . . . . . . Net Increase (Decrease) in Cash and Cash Equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and Cash Equivalents at the Beginning of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash and Cash Equivalents at the End of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $_x0008_ 1,403.8 $_x0008_ 1,507.6 $_x0008_ 1,020.8\n139.1 80.3 5.4 81.7 65.8 (5.6) (844.0) 132.1 139.5\n80.0 83.1\n(8.8) (8.1)\n84.7 70.8\n— —\n— (50.5) —\n— — 277.9\n39.8 109.7\n160.5 30.9\n926.5 1,945.4 1,724.6\n(78.2) (276.8) (25.9) (665.8) (160.0) — 114.1 3.2\n2.5 (75.4)\n(67.1)\n3.2\n(380.9) (709.2) (136.1)\n8.9 (581.1) (611.4) 17.4 (20.8) (79.5) (32.6) (62.9) — 1,221.3 1,186.6\n— (1,250.0) (600.0)\n6.4 (5.6)\n(592.3) (562.7)\n(527.3) (222.0)\n9.1 4.1\n(21.9) (22.3)\n(113.1) (95.5)\n(22.6) (31.2)\n(100.6) (59.8)\n(1,362.0) (1,391.0) (408.4)\n(218.6) (128.9) 114.7\n(1,035.0) 5,316.8 (283.7) 5,600.5 1,294.8\n4,305.7\n$_x0008_ 4,281.8 $_x0008_ 5,316.8 $_x0008_ 5,600.5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000342_company_type",
      "report_id": "ID_000342",
      "company_name": "Omnicom",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2022\nCommission File Number: 1-10551\nOMNICOM GROUP INC.\n(Exact name of registrant as specified in its charter)\nNew York\n(State or other jurisdiction of\n13-1514814\n(I.R.S. Employer Identification No.)\nincorporation or organization)\n280 Park Avenue, New York, NY\n(Address of principal executive offices)\n10017\n(Zip Code)\nRegistrant’s telephone number, including area code: (212) 415-3600\nTitle of each class Common Stock, $0.15 Par Value 0.800% Senior Notes due 2027 1.400% Senior Notes due 2031 2.250% Senior Notes due 2033 Securities Registered Pursuant to Section 12(b) of the Act:\nTrading Symbols OMC OMC/27 OMC/31 OMC/33 Securities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes  No \nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes  No \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file\nsuch reports) and (2) has been subject to such filing requirements for the past 90 days.\nYes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be\nsubmitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files).\nYes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller\nreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer  Non-accelerated filer \nSmaller reporting company  Emerging growth company \nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period\nfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000342_revenue",
      "report_id": "ID_000342",
      "company_name": "Omnicom",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "14289.1m",
      "golden_context": "Page 20:\n\nRESULTS OF OPERATIONS - 2022 Compared to 2021 (in millions):\nYear Ended December 31,\n2022 2021\n$14,289.1 $14,289.4\n10,325.9 10,402.0\n1,168.6 1,148.2\n113.4 —\n— (50.5)\n11,607.9 11,499.7\n378.5 379.7\n219.4 212.1\n12,205.8 12,091.5\n2,083.3 14.6% 208.6 70.7 2,197.9\n15.4%\n236.4\n27.3\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Expenses:\nSalary and service costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Occupancy and other costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Charges arising from the effects of the war in Ukraine. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on disposition of subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nCost of services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Selling, general and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Margin % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Before Income Taxes and Income From Equity Method Investments . . . . . . . . . . . . . . . . . . Income Tax Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income From Equity Method Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income Attributed To Noncontrolling Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income - Omnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Non-GAAP Financial Measures\nWe use EBITA and EBITA Margin as additional operating performance measures that exclude the non-cash amortization\nexpense of intangible assets, which primarily consists of amortization of intangible assets arising from acquisitions. We define\nEBITA as earnings before interest, taxes and amortization of intangible assets, and EBITA Margin as EBITA divided by revenue.\nEBITA and EBITA Margin are non-GAAP financial measures. We believe that EBITA and EBITA Margin are useful measures for\ninvestors to evaluate the performance of our business. Non-GAAP financial measures should not be considered in isolation from, or\nas a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP financial measures reported by us\nmay not be comparable to similarly titled amounts reported by other companies.\nThe following table reconciles the U.S. GAAP financial measure of net income - Omnicom Group Inc. to EBITA and EBITA\nMargin for the periods presented (in millions):\n1,945.4 546.8 5.2 1,988.8\n488.7\n7.5\n1,403.8 87.3 1,507.6\n99.8\n$ 1,316.5 $ 1,407.8\nYear Ended December 31,\n2022 2021\nNet Income - Omnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000342_revenue_growth",
      "report_id": "ID_000342",
      "company_name": "Omnicom",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "14289.1m, prior year 14289.4m",
      "golden_context": "Page 20:\n\nRESULTS OF OPERATIONS - 2022 Compared to 2021 (in millions):\nYear Ended December 31,\n2022 2021\n$14,289.1 $14,289.4\n10,325.9 10,402.0\n1,168.6 1,148.2\n113.4 —\n— (50.5)\n11,607.9 11,499.7\n378.5 379.7\n219.4 212.1\n12,205.8 12,091.5\n2,083.3 14.6% 208.6 70.7 2,197.9\n15.4%\n236.4\n27.3\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Expenses:\nSalary and service costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Occupancy and other costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Charges arising from the effects of the war in Ukraine. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on disposition of subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nCost of services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Selling, general and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating Margin % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Before Income Taxes and Income From Equity Method Investments . . . . . . . . . . . . . . . . . . Income Tax Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income From Equity Method Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income Attributed To Noncontrolling Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net Income - Omnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Non-GAAP Financial Measures\nWe use EBITA and EBITA Margin as additional operating performance measures that exclude the non-cash amortization\nexpense of intangible assets, which primarily consists of amortization of intangible assets arising from acquisitions. We define\nEBITA as earnings before interest, taxes and amortization of intangible assets, and EBITA Margin as EBITA divided by revenue.\nEBITA and EBITA Margin are non-GAAP financial measures. We believe that EBITA and EBITA Margin are useful measures for\ninvestors to evaluate the performance of our business. Non-GAAP financial measures should not be considered in isolation from, or\nas a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP financial measures reported by us\nmay not be comparable to similarly titled amounts reported by other companies.\nThe following table reconciles the U.S. GAAP financial measure of net income - Omnicom Group Inc. to EBITA and EBITA\nMargin for the periods presented (in millions):\n1,945.4 546.8 5.2 1,988.8\n488.7\n7.5\n1,403.8 87.3 1,507.6\n99.8\n$ 1,316.5 $ 1,407.8\nYear Ended December 31,\n2022 2021\nNet Income - Omnicom Group Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000342_segments",
      "report_id": "ID_000342",
      "company_name": "Omnicom",
      "year": 2022,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "One reporting segment",
      "golden_context": "Page 59:\n\nInterest expense is composed of (in millions):\nYear Ended December 31,\n2022 2021 2020\nLong-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Early redemption payments and other fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pension and other interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest rate and cross currency swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $164.7 4.6 35.8 3.5 $167.3 43.4 35.3 (9.6) $178.6\n14.1\n38.0\n(8.9)\n$208.6 $236.4 $221.8\n8. Segment Reporting\nOur branded agency networks operate in the advertising, marketing and corporate communications services industry, and\nare organized into agency networks, virtual client networks, regional reporting units and operating groups or practice areas.\nOur networks, virtual client networks and agencies increasingly share clients and provide clients with integrated services. The\nmain economic components of each agency are employee compensation and related costs and direct service costs and occupancy\nand other costs which include rent and occupancy costs, technology costs and other overhead expenses. Therefore, given these\nsimilarities, we aggregate our operating segments, which are our agency networks, into one reporting segment.\nThe agency networks’ regional reporting units comprise three principal regions: the Americas, EMEA and Asia-Pacific.\nThe regional reporting units monitor the performance and are responsible for the agencies in their region. Agencies within the\nregional reporting units serve similar clients in similar industries and in many cases the same clients and have similar economic\ncharacteristics.\nRevenue and long-lived assets and goodwill by geographic region were (in millions):\nAmericas EMEA Asia-Pacific\nDecember 31, 2022\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,185.0 7,727.0 $4,357.2 3,315.2 $1,746.9\n757.2\nDecember 31, 2021\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,005.8 7,629.2 $4,487.2 3,615.5 $1,796.4\n689.0\nDecember 31, 2020\nRevenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-lived assets and goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,852.5 7,610.9 $3,814.9 3,142.3 $1,503.7\n665.1\n9. Equity Method Investments\nIncome (loss) from our equity method investments was $5.2 million, $7.5 million and $(6.8) million in 2022, 2021 and\n2020, respectively. At December 31, 2022 and 2021, our proportionate share in the net assets of the equity method investments\nwas $18.3 million and $26.0 million, respectively. Equity method investments are not material to our results of operations or\nfinancial posit",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_cash_flow",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1421.9m, investing: 79.1m, financing: -1387.8m",
      "golden_context": "Page 49:\n\nOMNICOM GROUP INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions)\nYear Ended December 31,\n2023 2022 2021\nCash Flows from Operating Activities:\nNet income $_x0008_ 1,473.2 $_x0008_ 1,403.8 $_x0008_ 1,507.6\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization of right-of-use assets 130.8 139.1 132.1\nAmortization of intangible assets 80.3 80.3 80.0\nAmortization of net deferred loss (gain) on interest rate swaps 5.3 5.4 (8.8)\nShare-based compensation 84.8 81.7 84.7\nReal estate and other repositioning costs 191.5— —\nGain on disposition of subsidiary (78.8)— (50.5)\nNon-cash charges related to the effects of the war in Ukraine— 65.8 —\nOther, net (2.3) (5.6) 39.8\nIncrease (decrease) in operating capital (462.9) (844.0) 160.5\nNet Cash Provided By Operating Activities 1,421.9 926.5 1,945.4\nCash Flows from Investing Activities:\nCapital expenditures (78.4) (78.2) (665.8)\nAcquisition of businesses and interests in affiliates, net of cash acquired Maturity (purchase) of short-term investments Proceeds from disposition of subsidiaries and other (93.3) (276.8) (160.0)\n60.8 (61.4) —\n190.0 35.5 116.6\nNet Cash Provided By (Used In) Investing Activities 79.1 (380.9) (709.2)\nCash Flows from Financing Activities:\nProceeds from borrowings— — 1,221.3\nRepayment of debt— — (1,250.0)\nChange in short-term debt (8.7) 8.9 6.4\nDividends paid to common shareholders (562.7) (581.1) (592.3)\nRepurchases of common stock (570.8) (611.4) (527.3)\nProceeds from stock plans 35.6 17.4 9.1\nAcquisition of additional noncontrolling interests (87.6) (20.8) (21.9)\nDividends paid to noncontrolling interest shareholders (70.9) (79.5) (113.1)\nPayment of contingent purchase price obligations (67.7) (32.6) (22.6)\nOther, net (55.0) (62.9) (100.6)\nNet Cash Used In Financing Activities (1,387.8) (1,362.0) (1,391.0)\nEffect of foreign exchange rate changes on cash and cash equivalents 37.0 (218.6) (128.9)\nNet Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents at the Beginning of Year 150.2 (1,035.0) (283.7)\n4,281.8 5,316.8 5,600.5\nCash and Cash Equivalents at the End of Year $_x0008_ 4,432.0 $_x0008_ 4,281.8 $_x0008_ 5,316.8",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_company_type",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2023\nCommission File Number: 1-10551\nOMNICOM GROUP INC.\n(Exact name of registrant as specified in its charter)\n13-1514814\n(I.R.S. Employer Identification No.)\n10017\n(Zip Code)\nName of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York\n(State or other jurisdiction of\nincorporation or organization)\n280 Park Avenue, New York, NY\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: (212) 415-3600\nSecurities Registered Pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbols Common Stock, $0.15 Par Value OMC 0.800% Senior Notes due 2027 OMC/27 1.400% Senior Notes due 2031 OMC/31 2.250% Senior Notes due 2033 OMC/33 Securities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  No \nNo \nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and\n(2) has been subject to such filing requirements for the past 90 days. Yes  No \nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of the chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes  No \nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer  Accelerated filer  Non-accelerated filer \nSmaller reporting company  Emerging growth company \nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. \nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. \nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). \nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  No \nThe aggregate market value of the voting and non-voting common stock held by non-affiliates as of June 30, 2023 was $18,548,799,047. As\nof February 1, 2024, there were 197,992,717 shares of Omnicom Group Inc. Common Stock outstanding.\nPortions of the Omnicom Group Inc. Definitive Proxy Statement for the Annual Meeting of Shareholders scheduled to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_key_financials",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "14692.2m, net income Omnicom Group inc. 1391.4m, EBITA 2185m",
      "golden_context": "Page 17:\n\n in the region. The strengthening of most currencies, especially the Mexican Peso and\nBrazilian Real, partially offset by the weakening of the Argentine Peso against the U.S. Dollar, increased revenue in 2023\ncompared to 2022.\nIn Asia-Pacific, organic revenue for 2023 increased compared to 2022 across most major markets in the region,\nespecially China, India, Australia, and Japan, and was led by our media business in our Advertising & Media discipline and\nour Experiential discipline. The organic revenue growth was partially offset by the weakening of certain foreign currencies\nagainst the U.S. Dollar period to period, especially the Australian Dollar, Japanese Yen, and Chinese Renminbi.\nThe changes in worldwide revenue in 2023, compared to 2022, in our fundamental disciplines were: Advertising &\nMedia increased $457.3 million, Precision Marketing increased $46.9 million, Commerce & Branding increased $5.6 million,\nExperiential increased $15.8 million, Execution & Support decreased $189.1 million, Public Relations increased\n$26.2 million, and Healthcare increased $40.4 million.\nA summary of our full year consolidated results of operations period-over-period is as follows:\n2023 2022\n$\nChange\n%\nChange\nRevenue Operating Income2,3 Interest expense, net Net Income\n-\nOmnicom Group Inc.2,3 Net Income per Share\n-\n$_x0008_ 14,692.2 $_x0008_ 14,289.1 $_x0008_ 403.1 2.8 %\n$_x0008_ 2,104.7 $_x0008_ 2,083.3 $_x0008_ 21.4 1.0 %\nOperating Margin2,3 14.3 % 14.6 % (0.3)%\n$_x0008_ 111.8 $_x0008_ 137.9 $_x0008_ (26.1) (18.9)%\n$_x0008_ 1,391.4 $_x0008_ 1,316.5 $_x0008_ 74.9 5.7 %\nOmnicom Group Inc.: Diluted2,3 $_x0008_ 6.91 $_x0008_ 6.36 $_x0008_ 0.55 8.6 %\nEBITA1,2,3 $_x0008_ 2,185.0 $_x0008_ 2,163.6 $_x0008_ 21.4 1.0 %\nEBITA Margin1,2,3 14.9 % 15.1 % (0.2)%\n1) Reconciliation of Non-GAAP Financial Measures on page 26.\n2) For the year ended December 31, 2023, operating expenses included real estate operating lease impairment charges, severance, and\nother exit costs of $191.5 million ($145.5 million after tax) related to repositioning actions we took in the first and second quarters of\n2023 to reduce our real estate requirements, rebalance our workforce, and consolidate operations in certain markets (see Note 13 to the\nconsolidated financial statements). In addition, in the second quarter of 2023, we recorded a gain of $78.8 million ($55.9 million after\ntax) on disposition of certain of our research businesses in the Execution & Support discipline (see Note 14 to the consolidated financial\nstatements). Included in the fourth quarter of 2023 within selling, general and administrative expenses are acquisition transaction costs of\n$14.5 million, primarily related to the purchase of Flywheel Digital in January 2024 (see Note 5 to the consolidated financial statements).\nThe net aggregate impact of these items on Operating Income for the year ended December 31, 2023 was a reduction of $127.2 million\n($102.6 million after tax). The net aggregate effect of these items for the year ended December 31, 2023 to diluted net income per\nshare - Omnicom Group Inc. was a decrease of $0.50 (see Notes 13 and 14 to the consolidated financial statements).\n3) For December 31, 2022, operating expenses included $113.4 million of charges recorded in the first quarter of 2022, as well as\nan additional net income tax charge of $4.8 million, related to the disposition of our businesses in Russia, which reduced net\nincome - Omnicom Group Inc. by $118.2 million and diluted net income per share - Omnicom Group Inc. by $0.57 (see Note 15 to the\nconsolidated financial statements).\n12\nCRITICAL ACCOUNTING ESTIMATES\nThe following summary of our critical accounting policies provides a better understanding of our financial statements\nand the related discussion in this MD&A. We believe that the following policies may involve a higher degree of judgment\nand complexity in their application than most of our accounting policies and represent the critical accounting policies used in\nthe preparation of our financial statements. Readers are encouraged to consider this summary together with our consolidated\nfinancial statements and the related notes, including Note 2, for a more complete understanding of the critical accounting\npolicies discussed below.\nEstimates\nWe prepare our financial statements in conformity with U.S. GAAP",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_revenue",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "14692.2m",
      "golden_context": "Page 17:\n\n in the region. The strengthening of most currencies, especially the Mexican Peso and\nBrazilian Real, partially offset by the weakening of the Argentine Peso against the U.S. Dollar, increased revenue in 2023\ncompared to 2022.\nIn Asia-Pacific, organic revenue for 2023 increased compared to 2022 across most major markets in the region,\nespecially China, India, Australia, and Japan, and was led by our media business in our Advertising & Media discipline and\nour Experiential discipline. The organic revenue growth was partially offset by the weakening of certain foreign currencies\nagainst the U.S. Dollar period to period, especially the Australian Dollar, Japanese Yen, and Chinese Renminbi.\nThe changes in worldwide revenue in 2023, compared to 2022, in our fundamental disciplines were: Advertising &\nMedia increased $457.3 million, Precision Marketing increased $46.9 million, Commerce & Branding increased $5.6 million,\nExperiential increased $15.8 million, Execution & Support decreased $189.1 million, Public Relations increased\n$26.2 million, and Healthcare increased $40.4 million.\nA summary of our full year consolidated results of operations period-over-period is as follows:\n2023 2022\n$\nChange\n%\nChange\nRevenue Operating Income2,3 Interest expense, net Net Income\n-\nOmnicom Group Inc.2,3 Net Income per Share\n-\n$_x0008_ 14,692.2 $_x0008_ 14,289.1 $_x0008_ 403.1 2.8 %\n$_x0008_ 2,104.7 $_x0008_ 2,083.3 $_x0008_ 21.4 1.0 %\nOperating Margin2,3 14.3 % 14.6 % (0.3)%\n$_x0008_ 111.8 $_x0008_ 137.9 $_x0008_ (26.1) (18.9)%\n$_x0008_ 1,391.4 $_x0008_ 1,316.5 $_x0008_ 74.9 5.7 %\nOmnicom Group Inc.: Diluted2,3 $_x0008_ 6.91 $_x0008_ 6.36 $_x0008_ 0.55 8.6 %\nEBITA1,2,3 $_x0008_ 2,185.0 $_x0008_ 2,163.6 $_x0008_ 21.4 1.0 %\nEBITA Margin1,2,3 14.9 % 15.1 % (0.2)%\n1) Reconciliation of Non-GAAP Financial Measures on page 26.\n2) For the year ended December 31, 2023, operating expenses included real estate operating lease impairment charges, severance, and\nother exit costs of $191.5 million ($145.5 million after tax) related to repositioning actions we took in the first and second quarters of\n2023 to reduce our real estate requirements, rebalance our workforce, and consolidate operations in certain markets (see Note 13 to the\nconsolidated financial statements). In addition, in the second quarter of 2023, we recorded a gain of $78.8 million ($55.9 million after\ntax) on disposition of certain of our research businesses in the Execution & Support discipline (see Note 14 to the consolidated financial\nstatements). Included in the fourth quarter of 2023 within selling, general and administrative expenses are acquisition transaction costs of\n$14.5 million, primarily related to the purchase of Flywheel Digital in January 2024 (see Note 5 to the consolidated financial statements).\nThe net aggregate impact of these items on Operating Income for the year ended December 31, 2023 was a reduction of $127.2 million\n($102.6 million after tax). The net aggregate effect of these items for the year ended December 31, 2023 to diluted net income per\nshare - Omnicom Group Inc. was a decrease of $0.50 (see Notes 13 and 14 to the consolidated financial statements).\n3) For December 31, 2022, operating expenses included $113.4 million of charges recorded in the first quarter of 2022, as well as\nan additional net income tax charge of $4.8 million, related to the disposition of our businesses in Russia, which reduced net\nincome - Omnicom Group Inc. by $118.2 million and diluted net income per share - Omnicom Group Inc. by $0.57 (see Note 15 to the\nconsolidated financial statements).\n12\nCRITICAL ACCOUNTING ESTIMATES\nThe following summary of our critical accounting policies provides a better understanding of our financial statements\nand the related discussion in this MD&A. We believe that the following policies may involve a higher degree of judgment\nand complexity in their application than most of our accounting policies and represent the critical accounting policies used in\nthe preparation of our financial statements. Readers are encouraged to consider this summary together with our consolidated\nfinancial statements and the related notes, including Note 2, for a more complete understanding of the critical accounting\npolicies discussed below.\nEstimates\nWe prepare our financial statements in conformity with U.S. GAAP",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_revenue_growth",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "14692.2m, prior year 14289.1m",
      "golden_context": "Page 17:\n\n in the region. The strengthening of most currencies, especially the Mexican Peso and\nBrazilian Real, partially offset by the weakening of the Argentine Peso against the U.S. Dollar, increased revenue in 2023\ncompared to 2022.\nIn Asia-Pacific, organic revenue for 2023 increased compared to 2022 across most major markets in the region,\nespecially China, India, Australia, and Japan, and was led by our media business in our Advertising & Media discipline and\nour Experiential discipline. The organic revenue growth was partially offset by the weakening of certain foreign currencies\nagainst the U.S. Dollar period to period, especially the Australian Dollar, Japanese Yen, and Chinese Renminbi.\nThe changes in worldwide revenue in 2023, compared to 2022, in our fundamental disciplines were: Advertising &\nMedia increased $457.3 million, Precision Marketing increased $46.9 million, Commerce & Branding increased $5.6 million,\nExperiential increased $15.8 million, Execution & Support decreased $189.1 million, Public Relations increased\n$26.2 million, and Healthcare increased $40.4 million.\nA summary of our full year consolidated results of operations period-over-period is as follows:\n2023 2022\n$\nChange\n%\nChange\nRevenue Operating Income2,3 Interest expense, net Net Income\n-\nOmnicom Group Inc.2,3 Net Income per Share\n-\n$_x0008_ 14,692.2 $_x0008_ 14,289.1 $_x0008_ 403.1 2.8 %\n$_x0008_ 2,104.7 $_x0008_ 2,083.3 $_x0008_ 21.4 1.0 %\nOperating Margin2,3 14.3 % 14.6 % (0.3)%\n$_x0008_ 111.8 $_x0008_ 137.9 $_x0008_ (26.1) (18.9)%\n$_x0008_ 1,391.4 $_x0008_ 1,316.5 $_x0008_ 74.9 5.7 %\nOmnicom Group Inc.: Diluted2,3 $_x0008_ 6.91 $_x0008_ 6.36 $_x0008_ 0.55 8.6 %\nEBITA1,2,3 $_x0008_ 2,185.0 $_x0008_ 2,163.6 $_x0008_ 21.4 1.0 %\nEBITA Margin1,2,3 14.9 % 15.1 % (0.2)%\n1) Reconciliation of Non-GAAP Financial Measures on page 26.\n2) For the year ended December 31, 2023, operating expenses included real estate operating lease impairment charges, severance, and\nother exit costs of $191.5 million ($145.5 million after tax) related to repositioning actions we took in the first and second quarters of\n2023 to reduce our real estate requirements, rebalance our workforce, and consolidate operations in certain markets (see Note 13 to the\nconsolidated financial statements). In addition, in the second quarter of 2023, we recorded a gain of $78.8 million ($55.9 million after\ntax) on disposition of certain of our research businesses in the Execution & Support discipline (see Note 14 to the consolidated financial\nstatements). Included in the fourth quarter of 2023 within selling, general and administrative expenses are acquisition transaction costs of\n$14.5 million, primarily related to the purchase of Flywheel Digital in January 2024 (see Note 5 to the consolidated financial statements).\nThe net aggregate impact of these items on Operating Income for the year ended December 31, 2023 was a reduction of $127.2 million\n($102.6 million after tax). The net aggregate effect of these items for the year ended December 31, 2023 to diluted net income per\nshare - Omnicom Group Inc. was a decrease of $0.50 (see Notes 13 and 14 to the consolidated financial statements).\n3) For December 31, 2022, operating expenses included $113.4 million of charges recorded in the first quarter of 2022, as well as\nan additional net income tax charge of $4.8 million, related to the disposition of our businesses in Russia, which reduced net\nincome - Omnicom Group Inc. by $118.2 million and diluted net income per share - Omnicom Group Inc. by $0.57 (see Note 15 to the\nconsolidated financial statements).\n12\nCRITICAL ACCOUNTING ESTIMATES\nThe following summary of our critical accounting policies provides a better understanding of our financial statements\nand the related discussion in this MD&A. We believe that the following policies may involve a higher degree of judgment\nand complexity in their application than most of our accounting policies and represent the critical accounting policies used in\nthe preparation of our financial statements. Readers are encouraged to consider this summary together with our consolidated\nfinancial statements and the related notes, including Note 2, for a more complete understanding of the critical accounting\npolicies discussed below.\nEstimates\nWe prepare our financial statements in conformity with U.S. GAAP",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000343_segments",
      "report_id": "ID_000343",
      "company_name": "Omnicom",
      "year": 2023,
      "country": "US",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "One reporting segment",
      "golden_context": "Page 61:\n\nnse\nYear Ended December 31,\n2023 2022 2021\nLong-term debt Fees and early redemption payments Pension and other interest Interest rate and cross currency swaps $_x0008_ 165.1 $_x0008_ 164.7 $_x0008_ 167.3\n4.8 4.6 43.4\n50.5 35.8 35.3\n(1.9) 3.5 (9.6)\nInterest Expense $_x0008_ 218.5 $_x0008_ 208.6 $_x0008_ 236.4\n8. Segment Reporting\nOur branded agency networks operate in the advertising, marketing and corporate communications services industry, and\nare organized into agency networks, virtual client networks, regional reporting units and operating groups or practice areas.\nOur networks, virtual client networks and agencies increasingly share clients and provide clients with integrated services. The\nmain economic components of each agency are employee compensation and related costs, direct service costs and occupancy\nand other costs which include rent and occupancy costs, technology costs and other overhead expenses. Therefore, given these\nsimilarities, we aggregate our six operating segments, which are our agency networks, into one reporting segment.\nThe agency networks’ regional reporting units comprise three principal regions: the Americas, EMEA and Asia-Pacific.\nThe regional reporting units monitor the performance and are responsible for the agencies in their region. Agencies within the\nregional reporting units serve similar clients in similar industries and in many cases the same clients and have similar economic\ncharacteristics.\nRevenue and long-lived assets and goodwill by geographic region:\nAmericas EMEA Asia-Pacific\nDecember 31, 2023\nDecember 31, 2022\nRevenue Long-lived assets and goodwill Revenue Long-lived assets and goodwill December 31, 2021\nRevenue Long-lived assets and goodwill 9. Equity Method Investments\n$_x0008_ 8,337.8 $_x0008_ 4,576.5 $_x0008_ 1,777.9\n7,749.5 3,523.3 730.8\n$_x0008_ 8,185.0 $_x0008_ 4,357.2 $_x0008_ 1,746.9\n7,727.0 3,315.2 757.2\n$_x0008_ 8,005.8 $_x0008_ 4,487.2 $_x0008_ 1,796.4\n7,629.2 3,615.5 689.0\nIncome from our equity method investments was $5.2 million in each of 2023 and 2022 and $7.5 million in 2021. At",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_cash_flow",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1760m, investing: -1639m, financing: -894m",
      "golden_context": "Page 32:\n\ne the present value of future obligations and expenses, salary inflation rates, mortality rates and other\nassumptions. The company believes the accounting estimates related to its pension plans are critical accounting estimates because several\nof the company’s defined benefit plans have significant asset and liability balances, and because the assumptions used are highly\nsusceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted\nbenefit changes. These assumptions do not change during the company’s fiscal year unless a remeasurement event occurs in one of the\nplans, such as a significant settlement. The assumptions used in accounting for the company’s defined benefit plans and how they have\nchanged over time, as well as the sensitivity of the plans to changes in their related assumptions, can be found in Note 17 to the\nconsolidated financial statements within Item 8 of this annual report.\nFINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES\nCash Flows and Capital Expenditures\nOur primary sources of liquidity are cash provided by operating activities and external borrowings. We believe that cash flows from\noperating activities and cash provided by short-term, long-term and committed revolver borrowings, when necessary, will be sufficient to\nmeet our ongoing operating requirements, scheduled principal and interest payments on debt, dividend payments, anticipated share\nrepurchases and anticipated capital expenditures. The following table summarizes our cash flows:\n($ in millions) Years Ended December 31,\n2021 2020 2019\nCash flows provided by (used in) operating activities $ 1,760 $ 1,432 $ 1,548\nCash flows provided by (used in) investing activities (1,639) (1,181) (422)\nCash flows provided by (used in) financing activities (894) (602) (46)\nCash flows provided by operating activities were $1,760 million in 2021, primarily driven by net earnings, depreciation and amortization of\n$700 million, business consolidation and other costs of $142 million and working capital inflows of $120 million, partially offset by\npension contributions of $207 million. In comparison to the same period in 2020, and after adjusting for the impact of capital expenditures,\nour working capital movements reflect an increase in days sales outstanding of 11 days in 2021, an increase in inventory days on hand of 5\ndays in 2021 and an increase in days payable outstanding of 19 days in 2021, all of which reflect increased aluminum prices during 2021.\nCash outflows from investing activities were $1,639 million in 2021 predominantly driven by $1.7 billion in capital expenditures, partially\noffset by $110 million received for the sale of our minority-owned investment in South Korea.\n32",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_company_type",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D. C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-07349\nBall Corporation\nState of Indiana 35-0160610\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n9200 West 108th Circle\nWestminster, Colorado 80021\n(Address of registrant’s principal executive office) (Zip Code)\nRegistrant’s telephone number, including area code: (303) 469-3131\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, without par value Trading Symbol BLL Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO\n◻\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES\n◻ NO ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ⌧ NO\n◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.\nYES ☒ NO\n◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions\nof “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ⌧ Accelerated filer ◻ Non-accelerated filer ◻ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section\n404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒\nThe aggregate market value of voting stock held by non-affiliates of the registrant was $26.5 billion based upon the closing market price and common shares outstanding as of June 30, 2021.\nNumber of shares and rights outstanding as of the latest practicable date.\nClass Common Stock, without par value Outstanding at February 14, 2022\n321,495,737 shares\nDOCUMENTS INCORPORATED BY REFERENCE\n1. Proxy statement to be filed with the Commission within 120 days after December 31, 2021, to the extent indicated in Part III.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_key_financials",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "13811m, earnings before taxes 1008m, net earnings 878m, EPS basic 2.69",
      "golden_context": "Page 40:\n\nConsolidated Statements of Earnings\nBall Corporation\nYears Ended December 31,\n($ in millions, except per share amounts) 2021 2020 2019\n$ 13,811 $ 11,781 $ 11,474\nNet sales Costs and expenses\nCost of sales (excluding depreciation and amortization) (11,085) (9,323) (9,203)\nDepreciation and amortization (700) (668) (678)\nSelling, general and administrative (593) (525) (417)\nBusiness consolidation and other activities (142) (262) (244)\n(12,520) (10,778) (10,542)\nEarnings before interest and taxes 1,291 1,003 932\nInterest expense (270) (275) (317)\nDebt refinancing and other costs (13) (41) (7)\nTotal interest expense (283) (316) (324)\nEarnings before taxes 1,008 687 608\nTax (provision) benefit (156) (99) (71)\nEquity in results of affiliates, net of tax 26 (6) (1)\nNet earnings 878 582 536\nNet (earnings) loss attributable to noncontrolling interests — 3 30\nNet earnings attributable to Ball Corporation $ 878 $ 585 $ 566\nEarnings per share:\nBasic $ 2.69 $ 1.79 $ 1.71\nDiluted $ 2.65 $ 1.76 $ 1.66\nWeighted average shares outstanding: (000s)\nBasic 325,989 326,260 331,102\nDiluted 331,615 332,815 340,121\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_revenue",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "13811m",
      "golden_context": "Page 40:\n\nConsolidated Statements of Earnings\nBall Corporation\nYears Ended December 31,\n($ in millions, except per share amounts) 2021 2020 2019\n$ 13,811 $ 11,781 $ 11,474\nNet sales Costs and expenses\nCost of sales (excluding depreciation and amortization) (11,085) (9,323) (9,203)\nDepreciation and amortization (700) (668) (678)\nSelling, general and administrative (593) (525) (417)\nBusiness consolidation and other activities (142) (262) (244)\n(12,520) (10,778) (10,542)\nEarnings before interest and taxes 1,291 1,003 932\nInterest expense (270) (275) (317)\nDebt refinancing and other costs (13) (41) (7)\nTotal interest expense (283) (316) (324)\nEarnings before taxes 1,008 687 608\nTax (provision) benefit (156) (99) (71)\nEquity in results of affiliates, net of tax 26 (6) (1)\nNet earnings 878 582 536\nNet (earnings) loss attributable to noncontrolling interests — 3 30\nNet earnings attributable to Ball Corporation $ 878 $ 585 $ 566\nEarnings per share:\nBasic $ 2.69 $ 1.79 $ 1.71\nDiluted $ 2.65 $ 1.76 $ 1.66\nWeighted average shares outstanding: (000s)\nBasic 325,989 326,260 331,102\nDiluted 331,615 332,815 340,121\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_revenue_growth",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "13811m, 11781m prior year",
      "golden_context": "Page 40:\n\nConsolidated Statements of Earnings\nBall Corporation\nYears Ended December 31,\n($ in millions, except per share amounts) 2021 2020 2019\n$ 13,811 $ 11,781 $ 11,474\nNet sales Costs and expenses\nCost of sales (excluding depreciation and amortization) (11,085) (9,323) (9,203)\nDepreciation and amortization (700) (668) (678)\nSelling, general and administrative (593) (525) (417)\nBusiness consolidation and other activities (142) (262) (244)\n(12,520) (10,778) (10,542)\nEarnings before interest and taxes 1,291 1,003 932\nInterest expense (270) (275) (317)\nDebt refinancing and other costs (13) (41) (7)\nTotal interest expense (283) (316) (324)\nEarnings before taxes 1,008 687 608\nTax (provision) benefit (156) (99) (71)\nEquity in results of affiliates, net of tax 26 (6) (1)\nNet earnings 878 582 536\nNet (earnings) loss attributable to noncontrolling interests — 3 30\nNet earnings attributable to Ball Corporation $ 878 $ 585 $ 566\nEarnings per share:\nBasic $ 2.69 $ 1.79 $ 1.71\nDiluted $ 2.65 $ 1.76 $ 1.66\nWeighted average shares outstanding: (000s)\nBasic 325,989 326,260 331,102\nDiluted 331,615 332,815 340,121\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000344_segments",
      "report_id": "ID_000344",
      "company_name": "Ball Corporation",
      "year": 2021,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Beverage packaging, North and Central America\nBeverage packaging, EMEA\nBeverage packaging, South America\nAerospace\nOther",
      "golden_context": "Page 55:\n\n3. Business Segment Information\nBall’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the four\nreportable segments outlined below.\n55\nTable of Contents\nBall Corporation\nNotes to the Consolidated Financial Statements\nBeverage packaging, North and Central America: Consists of operations in the U.S., Canada and Mexico that manufacture and sell\naluminum beverage containers throughout those countries.\nBeverage packaging, EMEA: Consists of operations in numerous countries throughout Europe, including Russia, as well as Egypt and\nTurkey, that manufacture and sell aluminum beverage containers throughout those regions.\nBeverage packaging, South America: Consists of operations in Brazil, Argentina, Paraguay and Chile that manufacture and sell aluminum\nbeverage containers throughout most of South America.\nAerospace: Consists of operations that manufacture and sell aerospace and other related products and provide services used in the defense,\ncivil space and commercial space industries.\nAs presented in the tables below, Other consists of a non-reportable operating segment (beverage packaging, other) that manufactures and\nsells aluminum beverage containers in India, Saudi Arabia and throughout the Asia Pacific region; a non-reportable operating segment that\nmanufactures and sells extruded aluminum aerosol containers, recloseable aluminum bottles across multiple consumer categories and\naluminum slugs (aerosol packaging) throughout North America, South America, Europe, and Asia; a non-reportable operating segment that\nmanufactures and sells aluminum cups (aluminum cups); undistributed corporate expenses; intercompany eliminations and other business\nactivities.\nThe accounting policies of the segments are the same as those used in the consolidated financial statements, as discussed in Note 1. The\ncompany also has investments in operations in Guatemala, Panama, the U.S. and Vietnam that are accounted for under the equity method of\naccounting and, accordingly, those results are not included in segment sales or earnings. During 2021, Ball sold its minority-owned\ninvestment in South Korea. In January 2022, Ball sold its remaining equity method investment in Ball Metalpack. Refer to Note 4 for\nadditional details.\nMajor Customers\nNet sales to major customers, as a perc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_cash_flow",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 301m, investing: -786m, financing: 485m",
      "golden_context": "Page 33:\n\nrds completion, total revenues in our aerospace segment are subject to uncertainty due to the total amount that will be paid by the\ncustomer giving rise to variable consideration. The primary types of variable consideration present in the company’s contracts are cost\nreimbursements, performance award fees, incremental funding and finalization of government rates. The company’s accounting policy\naround revenue recognition in its aerospace segment and further details of estimates used in revenue recognition in its aerospace segment\ncan be found in Note 1 and Note 5, respectively, to the consolidated financial statements within Item 8 of this annual report.\nDefined Benefit Pension Plans\nThe company has defined benefit plans which require management to make assumptions relating to the long-term rate of return on plan\nassets, discount rates used to determine the present value of future obligations and expenses, salary inflation rates, mortality rates and other\nassumptions. The company believes the accounting estimates related to its pension plans are critical accounting estimates because several\nof the company’s defined benefit plans have significant asset and liability balances, and because the assumptions used are highly\nsusceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted\nbenefit changes. These assumptions do not change during the company’s fiscal year unless a remeasurement event occurs in one of the\nplans, such as a significant settlement. The assumptions used in accounting for the company’s defined benefit plans and how they have\nchanged over time, as well as the sensitivity of the plans to changes in their related assumptions, can be found in Note 17 to the\nconsolidated financial statements within Item 8 of this annual report.\nFINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES\nCash Flows and Capital Expenditures\nOur primary sources of liquidity are cash provided by operating activities and external borrowings. We believe that cash flows from\noperating activities and cash provided by short-term, long-term and committed revolver borrowings, when necessary, will be sufficient to\nmeet our ongoing operating requirements, scheduled principal and interest payments on debt, dividend payments, anticipated share\nrepurchases and anticipated capital expenditures. The following table summarizes our cash flows:\n($ in millions) Years Ended December 31,\n2022 2021 2020\nCash flows provided by (used in) operating activities $ 301 $ 1,760 $ 1,432\nCash flows provided by (used in) investing activities (786) (1,639) (1,181)\nCash flows provided by (used in) financing activities 485 (894) (602)\nCash flows provided by operating activities were $301 million in 2022, primarily driven by net earnings of $732 million, depreciation and\namortization of $672 million and business consolidation and other costs of $71 million, partially offset by working capital outflows of $924\nmillion and pension contributions of $124 million. In comparison to the same period in 2021, and after adjusting for the impact of capital\nexpenditures, our working capital movements reflect an increase in days sales outstanding of 7 days in 2022, an increase in inventory days\non hand of 14 days in 2022 and a decrease in days payable outstanding of 6 days in 2022.\nCash outflows from investing activities were $786 million in 2022 predominantly driven by $1.65 billion in capital expenditures, partially\noffset by $455 million net cash received for the sale of our Russian aluminum beverage packaging business, net of the cash on the disposed\nbusiness, and $298 million received for the for the sale of our remaining 49 percent owned equity in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_company_type",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D. C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-07349\nBall Corporation\nState of Indiana 35-0160610\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n9200 West 108th Circle\nWestminster, Colorado 80021\n(Address of registrant’s principal executive office) (Zip Code)\nRegistrant’s telephone number, including area code: (303) 469-3131\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, without par value Trading Symbol BALL Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO\n◻\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES\n◻ NO ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period\nthat the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ⌧ NO\n◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. YES ☒\nNO\n◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ⌧ Accelerated filer ◻ Non-accelerated filer ◻ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant\nto Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the\nSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued\nfinancial statements. ◻\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the\nrelevant recovery period pursuant to §240.10D-1(b). ◻\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒\nThe aggregate market value of voting stock held by non-affiliates of the registrant was $21.6 billion based upon the closing market price and common shares outstanding as of June 30, 2022.\nNumber of shares and rights outstanding as of the latest practicable date.\nClass Common Stock, without par value Outstanding at February 16, 2023\n314,424,560 shares\nDOCUMENTS INCORPORATED BY REFERENCE\n1. Proxy statement to be filed with the Commission within 120 days after December 31, 2022, to the extent indicated in Part III.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_key_financials",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 15349m, \nnet earnings attributable \nto Ball Corporation: 719m\n\n",
      "golden_context": "Page 28:\n\nanagement’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s Annual Report\non Form 10-K for the year ended December 31, 2021, as filed on February 16, 2021, for a comparison of our 2021 results of operations to\nthe 2020 results.\nGlobal Economic Environment\nIn 2022 data indicated a sharp rise in inflation in the regions where we operate. Current and future inflationary effects may continue to be\nimpacted by, among other things, supply chain disruptions, governmental stimulus or fiscal policies, changes in interest rates, and changing\ndemand for certain goods and services as recovery from the COVID-19 pandemic continues. We cannot predict with any certainty the\nimpact that rising interest rates, a global or any regional recession, or higher inflation may have on our customers or suppliers. Additionally,\nwe are unable to predict the potential effects that any resurgence of COVID-19, its variants or any future pandemic, or the continuation or\nescalation of the military conflict between Russia and Ukraine, and related sanctions or market disruptions, may have on our business. It\nremains uncertain how long any of these conditions may last or how severe any of them may become.\nConsolidated Sales and Earnings\n($ in millions) Years Ended December 31,\n2022 2021 2020\nNet sales $ 15,349 $ 13,811 $ 11,781\nNet earnings attributable to Ball Corporation 719 878 585\nNet earnings attributable to Ball Corporation as a % of net sales 5 % 6 % 5 %\nSales in 2022 were $1,538 million higher compared to 2021 primarily due to the pass through of higher aluminum prices and the delayed\nrecoverability of inflationary costs, partially offset by currency translation.\nNet earnings attributable to Ball Corporation in 2022 were $159 million lower than 2021 primarily due to increased manufacturing and\ninflationary costs and net charges from the impairment of Russian long-lived assets and the gain from the sale of Ball’s Russian aluminum\nbeverage packaging business, partially offset by the gain on sale of our remaining equity investment in Ball Metalpack, lower pension\nsettlement charges in 2022 than in 2021 and lower depreciation expense. In 2023 we expect to improve year-over-year results through fixed\ncost savings from rightsizing production and the contractual recovery of 2022 inflationary costs.\nCost of Sales (Excluding Depreciation and Amortization)\nCost of sales, excluding depreciation and amortization, was $12,766 million in 2022 compared to $11,085 million in 2021. These amounts\nrepresented 83 percent and 80 percent of consolidated net sales for the years ended 2022 and 2021, respectively. The increase year-over-\nyear is primarily due to higher manufacturing costs, general inflationary cost pressures and global supply chain transportation disruptions.\nTo mitigate these recent cost trend",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_revenue",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 15349m",
      "golden_context": "Page 28:\n\nanagement’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s Annual Report\non Form 10-K for the year ended December 31, 2021, as filed on February 16, 2021, for a comparison of our 2021 results of operations to\nthe 2020 results.\nGlobal Economic Environment\nIn 2022 data indicated a sharp rise in inflation in the regions where we operate. Current and future inflationary effects may continue to be\nimpacted by, among other things, supply chain disruptions, governmental stimulus or fiscal policies, changes in interest rates, and changing\ndemand for certain goods and services as recovery from the COVID-19 pandemic continues. We cannot predict with any certainty the\nimpact that rising interest rates, a global or any regional recession, or higher inflation may have on our customers or suppliers. Additionally,\nwe are unable to predict the potential effects that any resurgence of COVID-19, its variants or any future pandemic, or the continuation or\nescalation of the military conflict between Russia and Ukraine, and related sanctions or market disruptions, may have on our business. It\nremains uncertain how long any of these conditions may last or how severe any of them may become.\nConsolidated Sales and Earnings\n($ in millions) Years Ended December 31,\n2022 2021 2020\nNet sales $ 15,349 $ 13,811 $ 11,781\nNet earnings attributable to Ball Corporation 719 878 585\nNet earnings attributable to Ball Corporation as a % of net sales 5 % 6 % 5 %\nSales in 2022 were $1,538 million higher compared to 2021 primarily due to the pass through of higher aluminum prices and the delayed\nrecoverability of inflationary costs, partially offset by currency translation.\nNet earnings attributable to Ball Corporation in 2022 were $159 million lower than 2021 primarily due to increased manufacturing and\ninflationary costs and net charges from the impairment of Russian long-lived assets and the gain from the sale of Ball’s Russian aluminum\nbeverage packaging business, partially offset by the gain on sale of our remaining equity investment in Ball Metalpack, lower pension\nsettlement charges in 2022 than in 2021 and lower depreciation expense. In 2023 we expect to improve year-over-year results through fixed\ncost savings from rightsizing production and the contractual recovery of 2022 inflationary costs.\nCost of Sales (Excluding Depreciation and Amortization)\nCost of sales, excluding depreciation and amortization, was $12,766 million in 2022 compared to $11,085 million in 2021. These amounts\nrepresented 83 percent and 80 percent of consolidated net sales for the years ended 2022 and 2021, respectively. The increase year-over-\nyear is primarily due to higher manufacturing costs, general inflationary cost pressures and global supply chain transportation disruptions.\nTo mitigate these recent cost trend",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_revenue_growth",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 15349m, prior year 13811m",
      "golden_context": "Page 28:\n\nanagement’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s Annual Report\non Form 10-K for the year ended December 31, 2021, as filed on February 16, 2021, for a comparison of our 2021 results of operations to\nthe 2020 results.\nGlobal Economic Environment\nIn 2022 data indicated a sharp rise in inflation in the regions where we operate. Current and future inflationary effects may continue to be\nimpacted by, among other things, supply chain disruptions, governmental stimulus or fiscal policies, changes in interest rates, and changing\ndemand for certain goods and services as recovery from the COVID-19 pandemic continues. We cannot predict with any certainty the\nimpact that rising interest rates, a global or any regional recession, or higher inflation may have on our customers or suppliers. Additionally,\nwe are unable to predict the potential effects that any resurgence of COVID-19, its variants or any future pandemic, or the continuation or\nescalation of the military conflict between Russia and Ukraine, and related sanctions or market disruptions, may have on our business. It\nremains uncertain how long any of these conditions may last or how severe any of them may become.\nConsolidated Sales and Earnings\n($ in millions) Years Ended December 31,\n2022 2021 2020\nNet sales $ 15,349 $ 13,811 $ 11,781\nNet earnings attributable to Ball Corporation 719 878 585\nNet earnings attributable to Ball Corporation as a % of net sales 5 % 6 % 5 %\nSales in 2022 were $1,538 million higher compared to 2021 primarily due to the pass through of higher aluminum prices and the delayed\nrecoverability of inflationary costs, partially offset by currency translation.\nNet earnings attributable to Ball Corporation in 2022 were $159 million lower than 2021 primarily due to increased manufacturing and\ninflationary costs and net charges from the impairment of Russian long-lived assets and the gain from the sale of Ball’s Russian aluminum\nbeverage packaging business, partially offset by the gain on sale of our remaining equity investment in Ball Metalpack, lower pension\nsettlement charges in 2022 than in 2021 and lower depreciation expense. In 2023 we expect to improve year-over-year results through fixed\ncost savings from rightsizing production and the contractual recovery of 2022 inflationary costs.\nCost of Sales (Excluding Depreciation and Amortization)\nCost of sales, excluding depreciation and amortization, was $12,766 million in 2022 compared to $11,085 million in 2021. These amounts\nrepresented 83 percent and 80 percent of consolidated net sales for the years ended 2022 and 2021, respectively. The increase year-over-\nyear is primarily due to higher manufacturing costs, general inflationary cost pressures and global supply chain transportation disruptions.\nTo mitigate these recent cost trend",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000345_segments",
      "report_id": "ID_000345",
      "company_name": "Ball Corporation",
      "year": 2022,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "(1) beverage packaging, North and Central America; (2) beverage packaging, Europe, Middle East and Africa (beverage packaging, EMEA); (3) beverage packaging, South America and (4) aerospace. ",
      "golden_context": "Page 8:\n\n other operating metrics. We also communicate company information through news releases, executive communications, digital\nsignage and our weekly Ball eNews through the new BallConnect intranet, which are available to all employees. We have many\nrecognition-oriented awards throughout our company, including our corporate and divisional awards of excellence, the Living Well Cup\nand global operations plant sustainability awards. We conduct regular company-wide engagement surveys, as well as periodic pulse\nsurveys, which have generally indicated high levels of engagement and trust in Ball’s leadership, key strategies and initiatives.\nTotal Rewards\nWe have steadily upgraded our total rewards function over the past decade with the ongoing objective of acquiring, rewarding and retaining\nthe best talent by providing total rewards that are competitive and performance based. Our compensation programs, including our long-\nstanding EV A® based incentive plans, reflect our commitment to a pay-for-performance philosophy that drives shareholder value. Total\ndirect compensation is positioned in a competitive range of the applicable market median in each jurisdiction, differentiated based on\ntenure, skills and performance, and designed to attract and retain the best talent.\nHealth, Safety and Wellness\nThe health, safety and wellness of all employees is a top priority at Ball. Our environmental, health and safety function and our operations\nexecutives partner to consistently reinforce policies and procedures that are designed to reduce workplace risks and ensure safe methods of\nplant production, including through regular training and reporting on injuries and lost-time incidents. Over the past 15 years, we have\nsponsored a variety of health and wellness programs designed to enhance the physical and mental well-being of our employees around the\nworld. During 2020, the company expanded access to its existing Employee Assistance Program (EAP) to our entire global workforce. The\nEAP provides employees and their families access to mental health, stress management and other support resources essential to navigating\nlife changes and challenges.\nAdditional information on our human capital programs can be found in the Ball Corporation Combined Report, which is available at\nwww.ball.com/sustainability.\nOur Reportable Segments\nBall Corporation reports its financial performance in four reportable segments: (1) beverage packaging, North and Central America; (2)\nbeverage packaging, Europe, Middle East and Africa (beverage packaging, EMEA); (3) beverage packaging, South America and\n(4) aerospace. Ball also has investments in the U.S., Guatemala, Panama and Vietnam that are accounted for using the equity method of\naccounting and, accordingly, those results are not included in segment sales or earnings. Additional financial information related to each of\nour segments is included in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and in Note\n3 to the consolidated financial statements within Item 8 of this Annual Report on Form 10-K (annual report).\nBeverage Packaging, North and Central America, Segment\nBeverage packaging, North and Central America, is Ball’s largest segment, accounting for 44 percent of consolidated net sales in 2022.\nAluminum beverage containers are primarily sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks\nand other beverages.\nAluminum beverage containers and ends are produced at 18 manufacturing facilities in the U.S., one in Canada and two in Mexico. The\nbeverage packaging, North and Central America, segment also includes interests in three investments that are accounted for using the\nequity method. In the third quarter of 2022, Ball announced the permanent closure of its aluminum beverage can manufacturing facilities in\nPhoenix, Arizona, and St. Paul, Minnesota. The Phoenix facility ceased production in the fourth quarter of 2022, and the St. Paul facility\nceased production in the first quarter of 2023.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_cash_flow",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1863m, investing: -1053m, financing: -662",
      "golden_context": "Page 32:\n\nunder fixed-price long-term contracts in the aerospace segment are primarily recognized using percentage-of-completion accounting\nunder the cost-to-cost method. The company believes the accounting estimates related to revenue recognition in its aerospace segment are\ncritical accounting estimates because they are highly reliant upon estimation throughout the segment’s contracts with its customers. The\nrecognition of revenue requires significant estimation on the part of management, including estimating techniques to project revenues and\ncosts at completion and various assumptions and projections related to the outcome of future events, and evaluation of estimates of total\ncontract revenue, total contract cost, and extent of progress toward completion. Aside from estimation of total contract cost and progress\ntowards completion, total revenues in our aerospace segment are subject to uncertainty due to the total amount that will be paid by the\ncustomer giving rise to variable consideration. The primary types of variable consideration present in the company’s contracts are cost\nreimbursements, performance award fees, incremental funding and finalization of government rates. The company’s accounting policy\naround revenue recognition in its aerospace segment and further details of estimates used in revenue recognition in its aerospace segment\ncan be found in Note 1 and Note 5, respectively, to the consolidated financial statements within Item 8 of this annual report.\nDefined Benefit Pension Plans\nThe company has defined benefit plans which require management to make assumptions relating to the long-term rate of return on plan\nassets, discount rates used to determine the present value of future obligations and expenses, salary inflation rates, mortality rates and other\nassumptions. The company believes the accounting estimates related to its pension plans are critical accounting estimates because several\nof the company’s defined benefit plans have significant asset and liability balances, and because the assumptions used are highly\nsusceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted\nbenefit changes. These assumptions do not change during the company’s fiscal year unless a remeasurement event occurs in one of the\nplans, such as a significant settlement. The assumptions used in accounting for the company’s defined benefit plans and how they have\nchanged over time, as well as the sensitivity of the plans to changes in their related assumptions, can be found in Note 17 to the\nconsolidated financial statements within Item 8 of this annual report.\nFINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES\nCash Flows and Capital Expenditures\nOur primary sources of liquidity are cash provided by operating activities and external borrowings. We believe that cash flows from\noperating activities and cash provided by short-term, long-term and committed revolver borrowings, when necessary, will be sufficient to\nmeet our ongoing operating requirements, scheduled principal and interest payments on debt, dividend payments, anticipated share\nrepurchases and anticipated capital expenditures. The following table summarizes our cash flows:\n($ in millions) Years Ended December 31,\n2023 2022 2021\nCash flows provided by (used in) operating activities $ 1,863 $ 301 $ 1,760\nCash flows provided by (used in) investing activities (1,053) (786) (1,639)\nCash flows provided by (used in) financing activities (662) 485 (894)\nCash flows provided by operating activities were $1,863 million in 2023, primarily driven by net earnings of $711 million, depreciation and\namortization of $686 million, working capital inflows of $360 million and business consolidation and other costs of $153 million. On\nFebruary 16, 2024, the company completed the divestiture of the aerospace business. We currently estimate a cash tax of $1.0 billion to be\nrecorded as a cash outflow from operations in 2024. See Note 4 for further details. In an elevated interest rate environment, payment terms\nwith our customers and vendors become a more important element of total mix of information used to negotiate our contract terms. At\nDecember 31, 2023, days sales outstanding, net of factored receivables, was 62 days; therefore, a change of one day in days sales\noutstanding will impact cash flows provided by (used in) operating activities by $38 million. At December 31, 2023, days payable\noutstanding was 118 days; therefore, a change of one day in days payable outstanding will impact cash flows provided by (used in)\noperating activities by $30 million. At December 31, 2023, days inventory outstanding was",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_company_type",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D. C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-07349\nBall Corporation\nState of Indiana 35-0160610\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n9200 West 108th Circle\nWestminster, Colorado 80021\n(Address of registrant’s principal executive office) (Zip Code)\nRegistrant’s telephone number, including area code: (303) 469-3131\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, without par value Trading Symbol BALL Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO\n◻\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES\n◻ NO ⌧\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period\nthat the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ⌧ NO\n◻\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. YES ☒\nNO\n◻\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ⌧ Accelerated filer ◻ Non-accelerated filer ◻ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant\nto Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the\nSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued\nfinancial statements. ◻\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the\nrelevant recovery period pursuant to §240.10D-1(b). ◻\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒\nThe aggregate market value of voting stock held by non-affiliates of the registrant was $18.33 billion based upon the closing market price and common shares outstanding as of June 30, 2023.\nNumber of shares and rights outstanding as of the latest practicable date.\nClass Common Stock, without par value Outstanding at February 15, 2024\n315,642,486 shares\nDOCUMENTS INCORPORATED BY REFERENCE\n1. Proxy statement to be filed with the Commission within 120 days after December 31, 2023, to the extent indicated in Part III.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_key_financials",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 14029m, earnings before taxes: 814m",
      "golden_context": "Page 61:\n\nTable of Contents\nBall Corporation\nNotes to the Consolidated Financial Statements\nSummary of Business by Segment\nYears Ended December 31,\n($ in millions) 2023 2022 2021\nNet sales\nBeverage packaging, North and Central America $ 5,963 $ 6,696 $ 5,856\nBeverage packaging, EMEA 3,395 3,854 3,509\nBeverage packaging, South America 1,960 2,108 2,016\nAerospace 1,967 1,977 1,911\nReportable segment sales 13,285 14,635 13,292\nOther 744 714 519\nNet sales $ 14,029 $ 15,349 $ 13,811\nComparable operating earnings\nBeverage packaging, North and Central America $ 710 $ 642 $ 681\nBeverage packaging, EMEA 354 358 452\nBeverage packaging, South America 266 275 348\nAerospace 219 170 169\nReportable segment comparable operating earnings 1,549 1,445 1,650\nReconciling items\nOther (a) 12 (25) (65)\nBusiness consolidation and other activities (153) (71) (142)\nAmortization of acquired intangibles (135) (135) (152)\nEarnings before interest and taxes 1,273 1,214 1,291\nInterest expense (459) (312) (270)\nDebt refinancing and other costs — (18) (13)\nTotal interest expense (459) (330) (283)\nEarnings before taxes $ 814 $ 884 $ 1,008\n(a) Includes undistributed corporate expenses, net, of $74 million, $82 million and $72 million for the years ended December 2023, 2022\nand 2021, respectively.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_revenue",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net sales 14029m",
      "golden_context": "Page 27:\n\nd a material impact. Other factors that did not have a material impact, but that are significant to understand the results, are\nqualitatively described.\nRefer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s Annual Report\non Form 10-K for the year ended December 31, 2022, as filed on February 21, 2023, for a comparison of our 2022 results of operations to\nthe 2021 results.\nGlobal Economic Environment\nRecent data has indicated continued high inflation in the regions where we operate. Current and future inflationary effects may continue to\nbe impacted by, among other things, supply chain disruptions, governmental stimulus or fiscal and monetary policies, changes in interest\nrates, and changing demand for certain goods and services. We cannot predict with any certainty the impact that rising interest rates, a\nglobal or any regional recession, or higher inflation may have on our customers or suppliers. Additionally, we are unable to predict the\npotential effects that any future pandemic, or the continuation or escalation of global conflicts, including the conflict between Russia and\nUkraine and the rising instability in the Middle East, and related sanctions or market disruptions, may have on our business. It remains\nuncertain how long any of these conditions may last or how severe any of them may become.\nConsolidated Sales and Earnings\n($ in millions) Years Ended December 31,\n2023 2022 2021\nNet sales $ 14,029 $ 15,349 $ 13,811\nNet earnings attributable to Ball Corporation 707 719 878\nNet earnings attributable to Ball Corporation as a % of net sales 5 % 5 % 6 %\nSales in 2023 were $1,320 million lower compared to 2022 primarily due to a $554 million decrease from the 2022 sale of the Russian\naluminum beverage packaging business, a $514 million decrease from lower volumes and a $305 million decrease from lower sales prices\nresulting mainly from lower aluminum prices net of the annual pass-through of inflationary costs.\nNet earnings attributable to Ball Corporation in 2023 were $12 million lower compared to 2022 primarily due to an $129 million increase\nin interest expense, an $124 million decrease from lower volumes, an $86 million decrease from the 2022 sale of the Russian aluminum\nbeverage packaging business and an $82 million increase in business consolidation costs and other activities, partially offset by an $184\nmillion increase from higher sales prices resulting mainly from the annual pass-through of inflationary costs net of current year inflation,\n$80 million of cost savings from rightsizing production, a $49 million increase from contract mix and operational performance in the\naerospace segment and a $36 million decrease in the income tax provision.\nCost of Sales (Excluding Depreciation and Amortization)\nCost of sales, excluding depreciation and amortization, was $11,359 million in 2023 compared to $12,766 million in 2022. These amounts\nrepresented 81 percent and 83 percent of consolidated net sales for the years ended 2023 and 2022, respectively. The decrease year-over-\nyear is primarily due to lower manufacturing costs, including lower aluminum costs of $1.29 billion, and lower freight expenses of $176\nmillion. We took actions to normalize inventory levels and reduce fixed and variable costs in 2023 that improved financial results.\nDepreciation and Amortization\nDepreciation and amortization expense was $686 million in 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_revenue_growth",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 14029m, prior year 15349m",
      "golden_context": "Page 27:\n\nd a material impact. Other factors that did not have a material impact, but that are significant to understand the results, are\nqualitatively described.\nRefer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s Annual Report\non Form 10-K for the year ended December 31, 2022, as filed on February 21, 2023, for a comparison of our 2022 results of operations to\nthe 2021 results.\nGlobal Economic Environment\nRecent data has indicated continued high inflation in the regions where we operate. Current and future inflationary effects may continue to\nbe impacted by, among other things, supply chain disruptions, governmental stimulus or fiscal and monetary policies, changes in interest\nrates, and changing demand for certain goods and services. We cannot predict with any certainty the impact that rising interest rates, a\nglobal or any regional recession, or higher inflation may have on our customers or suppliers. Additionally, we are unable to predict the\npotential effects that any future pandemic, or the continuation or escalation of global conflicts, including the conflict between Russia and\nUkraine and the rising instability in the Middle East, and related sanctions or market disruptions, may have on our business. It remains\nuncertain how long any of these conditions may last or how severe any of them may become.\nConsolidated Sales and Earnings\n($ in millions) Years Ended December 31,\n2023 2022 2021\nNet sales $ 14,029 $ 15,349 $ 13,811\nNet earnings attributable to Ball Corporation 707 719 878\nNet earnings attributable to Ball Corporation as a % of net sales 5 % 5 % 6 %\nSales in 2023 were $1,320 million lower compared to 2022 primarily due to a $554 million decrease from the 2022 sale of the Russian\naluminum beverage packaging business, a $514 million decrease from lower volumes and a $305 million decrease from lower sales prices\nresulting mainly from lower aluminum prices net of the annual pass-through of inflationary costs.\nNet earnings attributable to Ball Corporation in 2023 were $12 million lower compared to 2022 primarily due to an $129 million increase\nin interest expense, an $124 million decrease from lower volumes, an $86 million decrease from the 2022 sale of the Russian aluminum\nbeverage packaging business and an $82 million increase in business consolidation costs and other activities, partially offset by an $184\nmillion increase from higher sales prices resulting mainly from the annual pass-through of inflationary costs net of current year inflation,\n$80 million of cost savings from rightsizing production, a $49 million increase from contract mix and operational performance in the\naerospace segment and a $36 million decrease in the income tax provision.\nCost of Sales (Excluding Depreciation and Amortization)\nCost of sales, excluding depreciation and amortization, was $11,359 million in 2023 compared to $12,766 million in 2022. These amounts\nrepresented 81 percent and 83 percent of consolidated net sales for the years ended 2023 and 2022, respectively. The decrease year-over-\nyear is primarily due to lower manufacturing costs, including lower aluminum costs of $1.29 billion, and lower freight expenses of $176\nmillion. We took actions to normalize inventory levels and reduce fixed and variable costs in 2023 that improved financial results.\nDepreciation and Amortization\nDepreciation and amortization expense was $686 million in 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000346_segments",
      "report_id": "ID_000346",
      "company_name": "Ball Corporation",
      "year": 2023,
      "country": "US",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "(1) beverage packaging, North and Central America; (2) beverage packaging, Europe, Middle East and Africa (beverage packaging, EMEA); (3) beverage packaging, South America and (4) aerospace",
      "golden_context": "Page 8:\n\nare in business success and be rewarded through a variety of compensation opportunities reflective of their individual potential and\ncontributions. Total direct compensation is positioned in a competitive range of the applicable market median in each jurisdiction,\ndifferentiated based on tenure, skills, and performance, and designed to attract and retain the best talent.\nHealth, Safety and Wellness\nThe health, safety and wellness of all employees is a top priority at Ball. Our environmental, health and safety function and our operations\nexecutives partner to consistently reinforce policies and procedures that are designed to reduce workplace risks and ensure safe methods of\nplant production, including through regular training and reporting on injuries and lost-time incidents. We sponsor a variety of health and\nwellness programs designed to enhance the physical and mental well-being of our employees around the world. In addition, the Employee\nAssistance Program provides employees and their families access to mental health, stress management and other support resources essential\nto navigating life changes and challenges.\nAdditional information on our human capital programs can be found in the Ball Corporation Combined Annual and Sustainability Report,\nwhich is available at www.ball.com/sustainability.\nOur Reportable Segments\nBall Corporation reports its financial performance in four reportable segments: (1) beverage packaging, North and Central America; (2)\nbeverage packaging, Europe, Middle East and Africa (beverage packaging, EMEA); (3) beverage packaging, South America and\n(4) aerospace. Ball also has investments in the U.S., Guatemala, Panama and Vietnam that are accounted for using the equity method of\naccounting and, accordingly, those results are not included in segment sales or earnings. Additional financial information related to each of\nour segments is included in Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations, and in Note 3\nto the consolidated financial statements within Item 8 of this Annual Report on Form 10-K (annual report).\nBeverage Packaging, North and Central America, Segment\nBeverage packaging, North and Central America, is Ball’s largest segment, accounting for 43 percent of consolidated net sales in 2023.\nAluminum beverage containers are primarily sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks\nand other beverages.\nAluminum beverage containers and ends are produced at 17 manufacturing facilities in the U.S., one in Canada and two in Mexico. The\nbeverage packaging, North and Central America, segment also includes interests in three investments that are accounted for using the\nequity method. Ball permanently ceased production at its aluminum beverage can",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_cash_flow",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 613.6m, investing: -390.7m, financing: -222.2",
      "golden_context": "Page 35:\n\nasonal cash usage in the first quarter of 2021 and drew on our revolving credit facility to fund our operations.\nThis cash usage reversed in the second quarter of 2021 as the seasonality of our businesses peaked and generated significant cash\nto fund our operations. In the second half of 2021, we funded our operations using our continued strong cash flow and our\nrevolving credit facility.\nEnd-user demand for pool and certain pumping equipment follows warm weather trends and historically has been at seasonal\nhighs from April to August. The magnitude of the sales spike has historically been partially mitigated by employing some\nadvance sale “early buy” programs (generally including extended payment terms and/or additional discounts). Demand for\nresidential and agricultural water systems is also impacted by weather patterns, particularly by temperature, heavy flooding and\ndroughts.\nIn 2021, we completed the acquisitions of KBI and Pleatco for total consideration of approximately $83.1 million and\n$254.6 million, respectively, in cash, net of cash acquired. We funded the purchase price for these acquisitions with cash on hand\nand borrowings under our revolving credit facility.\nSummary of Cash Flows\nCash flows from continuing operations were as follows:\nYears ended December 31\nIn millions 2021 2020 2019\nCash provided by (used for):\nOperating activities $ 613.6 $ 574.2 $ 345.2\nInvesting activities (390.7) (117.9) (331.9)\nFinancing activities (222.2) (435.9) (17.1)\nOperating activities\nIn 2021, net cash provided by operating activities of continuing operations primarily reflects net income from continuing\noperations of $633.5 million, net of non-cash depreciation and amortization. Additionally, we had a cash outflow of $20.8 million\nas a result of changes in net working capital, primarily due to increased sales demand and inflationary impacts leading to higher\naccounts receivable, inventory, accounts payable and other current liabilities balances.\nIn 2020, net cash provided by operating activities of continuing operations primarily reflects net income from continuing\noperations of $432.2 million, net of non-cash depreciation and amortization. Additionally, we had a cash inflow of $109.5 million\nas a result of changes in net working capital, primarily the result of accounts receivables collections and reduced accounts\nreceivables due to the pool business early buy program shipments with extended payment terms moving from the fourth quarter of\n2020 into 2021 due to continued strong demand.\nInvesting activities\nNet cash used for investing activities of continuing operations in 2021 primarily reflects capital expenditures of $60.2 million and\ncash paid for acquisitions of $338.5 million in our Consumer Solutions and Industrial & Flow Technologies reporting segments,\nnet of cash acquired.\nNet cash used for investing activities of continuing operations in 2020 primarily reflects capital expenditures of $62.2 million and\ncash paid for acquisitions of $58.0 million in our Consumer Solutions reporting segment, net of cash acquired.\nFinancing activities\nIn 2021, net cash used for financing activities primarily relates to repayment of $103.8 million of senior notes, $150.0 million of\nshare repurchases, dividend payments of $133.0 million and payments upon maturity of cross currency swaps of $14.7 million,\npartially offset by net borrowings of revolving long-term debt of $158.9 million.\nIn 2020, net cash used for financing activities primarily relates to repayment of com",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_company_type",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 4:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the Fiscal Year Ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nCommission file number 001-11625\nPentair plc\n(Exact name of Registrant as specified in its charter)\nIreland 98-1141328\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification number)\nRegal House, 70 London Road, Twickenham, London, TW13QS United Kingdom\nName of each exchange on which registered\nNew York Stock Exchange\nYes ☑\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 44-74-9421-6154\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary Shares, nominal value $0.01 per share Trading Symbol(s) PNR Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2\nof the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting\ncompany ☐\nEmerging growth\ncompany ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☑\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_key_financials",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 3764.8m, operating income 636.9m, income from continuing operations before income taxes 626.8m",
      "golden_context": "Page 30:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2021 2020 2019\n2021 vs\n2020\n2020 vs\n2019\nNet sales $ 3,764.8 $ 3,017.8 $ 2,957.2 24.8 % 2.0 %\nCost of goods sold 2,445.6 1,960.2 1,905.7 24.8 % 2.9 %\nGross profit 1,319.2 1,057.6 1,051.5 24.7 % 0.6 %\n% of net sales 35.0 % 35.0 % 35.6 % — pts (0.6) pts\nSelling, general and administrative 596.4 520.5 540.1 14.6 % (3.6) %\n% of net sales 15.8 % 17.2 % 18.3 % (1.4) pts (1.1) pts\nResearch and development 85.9 75.7 78.9 13.5 % (4.1) %\n% of net sales 2.3 % 2.5 % 2.7 % (0.2) pts (0.2) pts\nOperating income 636.9 461.4 432.5 38.0 % 6.7 %\n% of net sales 16.9 % 15.3 % 14.6 % 1.6 pts 0.7 pts\n(Gain) loss on sale of businesses (1.4) 0.1 (2.2) N.M. N.M.\nNet interest expense 12.5 23.9 30.1 (47.7) % (20.6) %\nOther (income) expense (1.0) 5.3 (2.9) N.M. N.M.\nIncome from continuing operations before income taxes 626.8 432.1 407.5 45.1 % 6.0 %\nProvision for income taxes 70.8 75.0 45.8 (5.6) % 63.8 %\nEffective tax rate 11.3 % 17.4 % 11.2 % (6.1) pts 6.2 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2021 vs 2020 2020 vs 2019\nVolume 16.3 % 0.4 %\nPrice 4.6 0.9\nCore growth 20.9 1.3\nAcquisition 2.6 0.5\nCurrency 1.3 0.2\nTotal 24.8 % 2.0 %\nThe 24.8 percent increase in consolidated net sales in 2021 from 2020 was primarily the result of:\n• volume increase in our Consumer Solutions segment mainly driven by continued robust demand in our pool and water\ntreatment businesses;\n• volume increase in our Industrial & Flow Technologies segment primarily driven by strong demand in the residential and\nirrigation flow businesses as well as increased demand and recovery in ou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_revenue",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "net sales 3764.8m",
      "golden_context": "Page 30:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2021 2020 2019\n2021 vs\n2020\n2020 vs\n2019\nNet sales $ 3,764.8 $ 3,017.8 $ 2,957.2 24.8 % 2.0 %\nCost of goods sold 2,445.6 1,960.2 1,905.7 24.8 % 2.9 %\nGross profit 1,319.2 1,057.6 1,051.5 24.7 % 0.6 %\n% of net sales 35.0 % 35.0 % 35.6 % — pts (0.6) pts\nSelling, general and administrative 596.4 520.5 540.1 14.6 % (3.6) %\n% of net sales 15.8 % 17.2 % 18.3 % (1.4) pts (1.1) pts\nResearch and development 85.9 75.7 78.9 13.5 % (4.1) %\n% of net sales 2.3 % 2.5 % 2.7 % (0.2) pts (0.2) pts\nOperating income 636.9 461.4 432.5 38.0 % 6.7 %\n% of net sales 16.9 % 15.3 % 14.6 % 1.6 pts 0.7 pts\n(Gain) loss on sale of businesses (1.4) 0.1 (2.2) N.M. N.M.\nNet interest expense 12.5 23.9 30.1 (47.7) % (20.6) %\nOther (income) expense (1.0) 5.3 (2.9) N.M. N.M.\nIncome from continuing operations before income taxes 626.8 432.1 407.5 45.1 % 6.0 %\nProvision for income taxes 70.8 75.0 45.8 (5.6) % 63.8 %\nEffective tax rate 11.3 % 17.4 % 11.2 % (6.1) pts 6.2 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2021 vs 2020 2020 vs 2019\nVolume 16.3 % 0.4 %\nPrice 4.6 0.9\nCore growth 20.9 1.3\nAcquisition 2.6 0.5\nCurrency 1.3 0.2\nTotal 24.8 % 2.0 %\nThe 24.8 percent increase in consolidated net sales in 2021 from 2020 was primarily the result of:\n• volume increase in our Consumer Solutions segment mainly driven by continued robust demand in our pool and water\ntreatment businesses;\n• volume increase in our Industrial & Flow Technologies segment primarily driven by strong demand in the residential and\nirrigation flow businesses as well as increased demand and recovery in ou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_revenue_growth",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 3764.8m, prior year 3017.8m",
      "golden_context": "Page 30:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2021 2020 2019\n2021 vs\n2020\n2020 vs\n2019\nNet sales $ 3,764.8 $ 3,017.8 $ 2,957.2 24.8 % 2.0 %\nCost of goods sold 2,445.6 1,960.2 1,905.7 24.8 % 2.9 %\nGross profit 1,319.2 1,057.6 1,051.5 24.7 % 0.6 %\n% of net sales 35.0 % 35.0 % 35.6 % — pts (0.6) pts\nSelling, general and administrative 596.4 520.5 540.1 14.6 % (3.6) %\n% of net sales 15.8 % 17.2 % 18.3 % (1.4) pts (1.1) pts\nResearch and development 85.9 75.7 78.9 13.5 % (4.1) %\n% of net sales 2.3 % 2.5 % 2.7 % (0.2) pts (0.2) pts\nOperating income 636.9 461.4 432.5 38.0 % 6.7 %\n% of net sales 16.9 % 15.3 % 14.6 % 1.6 pts 0.7 pts\n(Gain) loss on sale of businesses (1.4) 0.1 (2.2) N.M. N.M.\nNet interest expense 12.5 23.9 30.1 (47.7) % (20.6) %\nOther (income) expense (1.0) 5.3 (2.9) N.M. N.M.\nIncome from continuing operations before income taxes 626.8 432.1 407.5 45.1 % 6.0 %\nProvision for income taxes 70.8 75.0 45.8 (5.6) % 63.8 %\nEffective tax rate 11.3 % 17.4 % 11.2 % (6.1) pts 6.2 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2021 vs 2020 2020 vs 2019\nVolume 16.3 % 0.4 %\nPrice 4.6 0.9\nCore growth 20.9 1.3\nAcquisition 2.6 0.5\nCurrency 1.3 0.2\nTotal 24.8 % 2.0 %\nThe 24.8 percent increase in consolidated net sales in 2021 from 2020 was primarily the result of:\n• volume increase in our Consumer Solutions segment mainly driven by continued robust demand in our pool and water\ntreatment businesses;\n• volume increase in our Industrial & Flow Technologies segment primarily driven by strong demand in the residential and\nirrigation flow businesses as well as increased demand and recovery in ou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000347_segments",
      "report_id": "ID_000347",
      "company_name": "Pentair",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Consumer Solutions and Industrial & Flow Technologies",
      "golden_context": "Page 6:\n\nrowth in our core businesses and strategic initiatives;\n• Accelerate digital, innovation, technology and environmental, social and governance (“ESG”) investments;\n• Expedite growth and drive margin expansion through our transformation program;\n• Utilize Win Right values and the Pentair Integrated Management System (“PIMS”) consisting of lean enterprise, growth\nand talent management to drive sustained and consistent performance.\nHISTORY AND DEVELOPMENT\nWe are an Irish public limited company that was formed in 2014. We are the successor to Pentair Ltd., a Swiss corporation\nformed in 2012, and Pentair, Inc., a Minnesota corporation formed in 1966 and our wholly-owned subsidiary, under the Securities\nExchange Act of 1934, as amended (the “Exchange Act”). Although our jurisdiction of organization is Ireland, we manage our\naffairs so that we are centrally managed and controlled in the United Kingdom (the “U.K.”) and therefore have our tax residency\nin the U.K.\nOur registered principal office is located at Regal House, 70 London Road, Twickenham, London, TW13QS United Kingdom.\nOur management office in the United States (“U.S.”) is located at 5500 Wayzata Boulevard, Suite 900, Golden Valley,\nMinnesota.\nBUSINESS AND PRODUCTS\nPentair is comprised of two reportable business segments: Consumer Solutions and Industrial & Flow Technologies. The\nfollowing is a brief description of each of the Company’s reportable segments and business activities.\nConsumer Solutions\nThe Consumer Solutions segment designs, manufactures and sells energy-efficient residential and commercial pool equipment\nand accessories, and commercial and residential water treatment products and systems. Residential and commercial pool\nequipment and accessories include pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment\nand pool accessories. Water treatment products and systems include pressure tanks, control valves, activated carbon products,\nconventional filtration products, and point-of-entry and point-of-use systems. Applications for our pool business’s products\ninclude residential and commercial pool maintenance, repair, renovation, service and construction. Our water treatment products\nand systems are used in residential whole home water filtration, drinking water filtration and water softening solutions in addition\nto commercial total water management and filtration in food service operations. The primary focus of this segment is business-to-\nconsumer.\nFor the fiscal year ended December 31, 2021, our pool business comprised 65% of the Consumer Solutions sales. The pool\nbusiness is a leader in North American pool equipment, serving a market that is primarily replacement. The other 35% of sales\nwere from the water treatment businesses, which sell residential and commercial components, residential systems and commercial\nsystems.\nConsumer Solutions brand names include Everpure, Ken’s ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_cash_flow",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operatings: 363.3m, investing: -1582.8m, financing: 1232.7m",
      "golden_context": "Page 51-52:\n\nPentair plc and Subsidiaries\nConsolidated Statements of Cash Flows\nYears ended December 31\nIn millions 2022 2021 2020\nOperating activities\nNet income $ 480.9 $ 553.0 $ 358.6\nLoss (income) from discontinued operations, net of tax 2.3 3.0 (1.5)\nAdjustments to reconcile net income from continuing operations to net cash provided by\noperating activities of continuing operations\nEquity income of unconsolidated subsidiaries (1.8) (0.3) (1.4)\nDepreciation 54.1 51.2 46.7\nAmortization 52.5 26.3 28.4\n(Gain) loss on sale of businesses (0.2) (1.4) 0.1\nDeferred income taxes (44.8) (9.0) 4.6\nShare-based compensation 24.9 29.8 20.3\nAsset impairment and write-offs 25.6 — 2.7\nAmortization of bridge financing debt issuance costs 9.0 — —\nPension and other post-retirement (income) expense (12.2) 2.8 12.2\nPension and other post-retirement contributions (8.8) (9.4) (8.4)\n(Gain) loss on sale of assets (2.3) 0.7 0.3\nChanges in assets and liabilities, net of effects of business acquisitions\nAccounts receivable 30.4 (142.0) 148.3\nInventories (187.0) (121.4) (29.1)\nOther current assets (16.5) (12.3) (2.3)\nAccounts payable (56.9) 114.2 (81.9)\nEmployee compensation and benefits (35.2) 24.5 42.5\nOther current liabilities 46.5 116.2 32.0\nOther non-current assets and liabilities 3.8 (12.3) 2.1\nNet cash provided by operating activities of continuing operations 364.3 613.6 574.2\nNet cash used for operating activities of discontinued operations (1.0) (0.4) (0.6)\nNet cash provided by operating activities 363.3 613.2 573.6\nInvesting activities\nCapital expenditures (85.2) (60.2) (62.2)\nProceeds from sale of property and equipment 4.1 3.9 0.1\nProceeds from sale of businesses, net — 1.4 —\nAcquisitions, net of cash acquired (1,580.9) (338.5) (58.0)\nSettlement of net investment hedges 78.9 — —\nOther 0.3 2.7 2.2\nNet cash used for investing activities (1,582.8) (390.7) (117.9)\nFinancing activities\nNet borrowings (repayments) of revolving long-term debt 124.5 159.4 (117.5)\nProceeds from long-term debt 1,391.3 — —\nRepayment of long-term debt (88.3) (103.8) (74.0)\nDebt issuance costs (15.8) (2.3) —\nShares issued to employees, net of shares withheld (2.7) 22.2 32.9\nRepurchases of ordinary shares (50.0) (150.0) (150.2)\nDividends paid (138.6) (133.0) (127.1)\nReceipts (payments) upon the settlement of cross currency swaps 12.3 (14.7) —\nNet cash provided by (used for) financing activities 1,232.7 (222.2) (435.9)\nEffect of exchange rate changes on cash and cash equivalents 1.2 12.1 (20.2)\nChange in cash and cash equivalents 14.4 12.4 (0.4)\nCash and cash equivalents, beginning of year 94.5 82.1 82.5\nCash and cash equivalents, end of year $ 108.9 $ 94.5 $ 82.1\nSupplemental disclosure of cash flow information:\nCash paid for interest, net $ 57.0 $ 29.9 $ 41.0\nCash paid for income taxes, net 122.6 71.8 67.7\nSee accompanying notes to consolidated financial statements.\n45\nPentair plc and Subsidiaries\nConsolidated Statements of Changes in Equity\nIn millions\nOrdinary shares Additional\npaid-in\nNumber Amount\ncapital\nRetained\nearnings\nAccumulated\nother\ncomprehensive\nincome (loss) Total\nBalance - December 31, 2019 168.3 $ 1.7 $ 1,777.7 $ 401.0 $ (226.5) $ 1,953.9\nNet income — — — 358.6 — 358.6\nOther comprehensive income, net of tax — — — — 19.2 19.2\nDividends declared — — — (128.4) — (128.4)\nShare repurchases (3.7) — (150.2) — — (150.2)\nExercise of options, net of shares tendered for\npayment 1.3 — 37.6 — — 37.6\nIssuance of restricted shares, net of cancellations 0.3 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (4.7) — — (4.7)\nShare-based compensation — — 20.3 — — 20.3\nBalance - December 31, 2020 166.1 $ 1.7 $ 1,680.7 $ 631.2 $ (207.3) $ 2,106.3\nNet income — — — 553.0 — 553.0\nOther comprehensive loss, net of tax — — — — (6.6) (6.6)\nDividends declared — — — (132.8) — (132.8)\nShare repurchases (2.1) — (150.0) — — (150.0)\nExercise of options, net of shares tendered for\npayment 0.9 — 30.1 — — 30.1\nIssuance of restricted shares, net of cancellations 0.3 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (7.9) — — (7.9)\nShare-based compensation — — 29.8 — — 29.8\nBalance - December 31, 2021 165.1 $ 1.7 $ 1,582.7 $ 1,051.4 $ (213.9) $ 2,421.9\nNet income — — — 480.9 — 480.9\nOther comprehensive loss, net of tax — — — — (25.1) (25.1)\nDividends declared — — — (141.8) — (141.8)\nShare repurchases (1.0) — (50.0) — — (50.0)\nExercise of options, net of shares tendered for\npayment 0.1 — 3.6 — — 3.6\nIssuance of restricted shares, net of cancellations 0.4 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (6.3) — — (6.3)\nShare-based compensation — — 24.9 — — 24.9\nBalance - December 31, 2022 164.5 $ 1.7 $ 1,554.9 $ 1,390.5 $ (239.0) $ 2,708.1\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_company_type",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 5:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the Fiscal Year Ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nCommission file number 001-11625\nPentair plc\n(Exact name of Registrant as specified in its charter)\nIreland 98-1141328\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification number)\nRegal House, 70 London Road, Twickenham, London, TW13QS United Kingdom\nName of each exchange on which registered\nNew York Stock Exchange\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 44-74-9421-6154\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary Shares, nominal value $0.01 per share Trading Symbol(s) PNR Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2\nof the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any\nof the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nAggregate market value of voting and non-voting common equity held by non-affiliates of the Registrant, based on the cl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_key_financials",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 4121.8m, income 767.7m",
      "golden_context": "Page 9:\n\nNEW SEGMENTATION\nEffective January 1, 2023, we reorganized our reporting segments to reflect how we are managing our business beginning in\n2023. We believe the new alignment into three segments, Pool, Water Solutions and Industrial & Flow Technologies, will help us\naccelerate our efforts to improve customer experiences, differentiate our products and drive profitability for our shareholders.\nAs part of this reorganization, the legacy Consumer Solutions segment was divided into a Pool segment and a Water Solutions\nsegment. The Industrial & Flow Technologies segment remains the same. All segment information presented throughout this\nAnnual Report on Form 10-K, with the exception of the table below, was prepared based on the reporting segments in place\nduring 2022.\nThe below table presents net sales and segment income under the revised reporting segments (Pool, Water Solutions, and\nIndustrial & Flow Technologies) for the years ended December 31, 2022, 2021 and 2020.\nDecember 31\nIn millions 2022 2021 2020\nNet Sales\nPool $ 1,632.7 $ 1,572.0 $ 1,123.5\nWater Solutions 986.8 769.9 619.4\nIndustrial & Flow Technologies 1,500.8 1,421.4 1,273.6\nOther 1.5 1.5 1.3\nConsolidated $ 4,121.8 $ 3,764.8 $ 3,017.8\nSegment income (loss)\nPool $ 462.1 $ 452.7 $ 321.4\nWater Solutions 149.0 101.7 97.7\nIndustrial & Flow Technologies 242.3 213.3 164.6\nOther (85.7) (81.8) (66.1)\nConsolidated $ 767.7 $ 685.9 $ 517.6\nINFORMATION REGARDING ALL REPORTABLE SEGMENTS\nResearch and development\nWe conduct research and development activities primarily in our own facilities. These efforts consist mostly of the development\nof new products, product applications and manufacturing processes.\nRaw materials\nThe principal materials we use in manufacturing our products are mild steel, stainless steel, electronic components (including\ndrives and motors), plastics (resins, fiberglass, epoxies), copper and paint (powder and liquid). In addition to the purchase of raw\nmaterials, we purchase some finished goods for distribution for resale.\nWe purchase the materials we use in various manufacturing processes on the open market, and the majority are available through\nmultiple sources. Supplier capabilities were stressed in 2022 and 2021 compared to previous years as a result of various degrees\nof supply chain challenges, including reduced labor availability and increased ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_revenue",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 4121.8m",
      "golden_context": "Page 9:\n\nNEW SEGMENTATION\nEffective January 1, 2023, we reorganized our reporting segments to reflect how we are managing our business beginning in\n2023. We believe the new alignment into three segments, Pool, Water Solutions and Industrial & Flow Technologies, will help us\naccelerate our efforts to improve customer experiences, differentiate our products and drive profitability for our shareholders.\nAs part of this reorganization, the legacy Consumer Solutions segment was divided into a Pool segment and a Water Solutions\nsegment. The Industrial & Flow Technologies segment remains the same. All segment information presented throughout this\nAnnual Report on Form 10-K, with the exception of the table below, was prepared based on the reporting segments in place\nduring 2022.\nThe below table presents net sales and segment income under the revised reporting segments (Pool, Water Solutions, and\nIndustrial & Flow Technologies) for the years ended December 31, 2022, 2021 and 2020.\nDecember 31\nIn millions 2022 2021 2020\nNet Sales\nPool $ 1,632.7 $ 1,572.0 $ 1,123.5\nWater Solutions 986.8 769.9 619.4\nIndustrial & Flow Technologies 1,500.8 1,421.4 1,273.6\nOther 1.5 1.5 1.3\nConsolidated $ 4,121.8 $ 3,764.8 $ 3,017.8\nSegment income (loss)\nPool $ 462.1 $ 452.7 $ 321.4\nWater Solutions 149.0 101.7 97.7\nIndustrial & Flow Technologies 242.3 213.3 164.6\nOther (85.7) (81.8) (66.1)\nConsolidated $ 767.7 $ 685.9 $ 517.6\nINFORMATION REGARDING ALL REPORTABLE SEGMENTS\nResearch and development\nWe conduct research and development activities primarily in our own facilities. These efforts consist mostly of the development\nof new products, product applications and manufacturing processes.\nRaw materials\nThe principal materials we use in manufacturing our products are mild steel, stainless steel, electronic components (including\ndrives and motors), plastics (resins, fiberglass, epoxies), copper and paint (powder and liquid). In addition to the purchase of raw\nmaterials, we purchase some finished goods for distribution for resale.\nWe purchase the materials we use in various manufacturing processes on the open market, and the majority are available through\nmultiple sources. Supplier capabilities were stressed in 2022 and 2021 compared to previous years as a result of various degrees\nof supply chain challenges, including reduced labor availability and increased ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_revenue_growth",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 4121.8m, prior year 3764.8m",
      "golden_context": "Page 9:\n\nNEW SEGMENTATION\nEffective January 1, 2023, we reorganized our reporting segments to reflect how we are managing our business beginning in\n2023. We believe the new alignment into three segments, Pool, Water Solutions and Industrial & Flow Technologies, will help us\naccelerate our efforts to improve customer experiences, differentiate our products and drive profitability for our shareholders.\nAs part of this reorganization, the legacy Consumer Solutions segment was divided into a Pool segment and a Water Solutions\nsegment. The Industrial & Flow Technologies segment remains the same. All segment information presented throughout this\nAnnual Report on Form 10-K, with the exception of the table below, was prepared based on the reporting segments in place\nduring 2022.\nThe below table presents net sales and segment income under the revised reporting segments (Pool, Water Solutions, and\nIndustrial & Flow Technologies) for the years ended December 31, 2022, 2021 and 2020.\nDecember 31\nIn millions 2022 2021 2020\nNet Sales\nPool $ 1,632.7 $ 1,572.0 $ 1,123.5\nWater Solutions 986.8 769.9 619.4\nIndustrial & Flow Technologies 1,500.8 1,421.4 1,273.6\nOther 1.5 1.5 1.3\nConsolidated $ 4,121.8 $ 3,764.8 $ 3,017.8\nSegment income (loss)\nPool $ 462.1 $ 452.7 $ 321.4\nWater Solutions 149.0 101.7 97.7\nIndustrial & Flow Technologies 242.3 213.3 164.6\nOther (85.7) (81.8) (66.1)\nConsolidated $ 767.7 $ 685.9 $ 517.6\nINFORMATION REGARDING ALL REPORTABLE SEGMENTS\nResearch and development\nWe conduct research and development activities primarily in our own facilities. These efforts consist mostly of the development\nof new products, product applications and manufacturing processes.\nRaw materials\nThe principal materials we use in manufacturing our products are mild steel, stainless steel, electronic components (including\ndrives and motors), plastics (resins, fiberglass, epoxies), copper and paint (powder and liquid). In addition to the purchase of raw\nmaterials, we purchase some finished goods for distribution for resale.\nWe purchase the materials we use in various manufacturing processes on the open market, and the majority are available through\nmultiple sources. Supplier capabilities were stressed in 2022 and 2021 compared to previous years as a result of various degrees\nof supply chain challenges, including reduced labor availability and increased ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000348_segments",
      "report_id": "ID_000348",
      "company_name": "Pentair",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Pool, Water Solutions and\nIndustrial & Flow Technologies",
      "golden_context": "Page 7:\n\nelbilt, Inc. (“Welbilt”) and certain other assets, rights, and properties, and assumed certain liabilities,\ncomprising Welbilt’s Manitowoc Ice business (“Manitowoc Ice”), for approximately $1.6 billion in cash.\nOur registered principal office is located at Regal House, 70 London Road, Twickenham, London, TW13QS United Kingdom.\nOur management office in the United States (“U.S.”) is located at 5500 Wayzata Boulevard, Suite 900, Golden Valley,\nMinnesota.\nBUSINESS AND PRODUCTS\nThe following is a brief description of each of the Company’s 2022 reportable segments and business activities. Effective January\n1, 2023, we reorganized our segments, going from two segments to three with the three segments being Pool, Water Solutions and\nIndustrial & Flow Technologies. The discussions below that speak to historical periods refer to the prior segments, while\nstatements about present and future periods refer to the businesses underlying those segments and carry forward with those\nbusinesses (including our customers, seasonality and competition) in their re-segmented form. Additional information regarding\nthis re-segmentation is found below under the section titled “New Segmentation.”\nConsumer Solutions\nThe Consumer Solutions segment designs, manufactures and sells energy-efficient residential and commercial pool equipment\nand accessories, and commercial and residential water treatment products and systems. Residential and commercial pool\nequipment and accessories include pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment\nand pool accessories. Water treatment products and systems include pressure tanks, control valves, activated carbon products,\ncommercial ice machines, conventional filtration products, and point-of-entry and point-of-use systems. Applications for our pool\nbusiness’s products include residential and commercial pool maintenance, repair, renovation, service and construction. Our water\ntreatment products and systems are used in residential whole home water filtration, drinking water filtration and water softening\nsolutions in addition to commercial total water management and filtration in food service operations. In addition, our water\nsolutions business also provides installation and preventative services for water management solutions for commercial operators.\nThe primary focus of this segment is business-to-consumer.\nFor the fiscal year ended December 31, 2022, our pool business comprised approximately 60% of the Consumer Solutions sales.\nThe pool business is a leader in North American pool equipment, serving an end market that is primarily replacement. The other\n1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_cash_flow",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 619.2m, investing: -85.4m, financing: -468.1m",
      "golden_context": "Page 53:\n\nPentair plc and Subsidiaries\nConsolidated Statements of Cash Flows\nYears ended December 31\nIn millions 2023 2022 2021\nOperating activities\nNet income $ 622.7 $ 480.9 $ 553.0\nLoss from discontinued operations, net of tax 0.2 2.3 3.0\nAdjustments to reconcile net income from continuing operations to net cash provided by\noperating activities of continuing operations\nEquity income of unconsolidated subsidiaries (2.8) (1.8) (0.3)\nDepreciation 59.5 54.1 51.2\nAmortization 55.3 52.5 26.3\nGain on sale of businesses — (0.2) (1.4)\nDeferred income taxes (92.5) (44.8) (9.0)\nShare-based compensation 29.1 24.9 29.8\nAsset impairment and write-offs 7.9 25.6 —\nAmortization of bridge financing debt issuance costs — 9.0 —\nPension and other post-retirement expense (benefit) 12.1 (12.2) 2.8\nPension and other post-retirement contributions (8.7) (8.8) (9.4)\n(Gain) loss on sale of assets (3.4) (2.3) 0.7\nChanges in assets and liabilities, net of effects of business acquisitions\nAccounts receivable (24.4) 30.4 (142.0)\nInventories 109.6 (187.0) (121.4)\nOther current assets (29.1) (16.5) (12.3)\nAccounts payable (75.1) (56.9) 114.2\nEmployee compensation and benefits 17.2 (35.2) 24.5\nOther current liabilities (59.5) 46.5 116.2\nOther non-current assets and liabilities 2.7 3.8 (12.3)\nNet cash provided by operating activities of continuing operations 620.8 364.3 613.6\nNet cash used for operating activities of discontinued operations (1.6) (1.0) (0.4)\nNet cash provided by operating activities 619.2 363.3 613.2\nInvesting activities\nCapital expenditures (76.0) (85.2) (60.2)\nProceeds from sale of property and equipment 5.6 4.1 3.9\nProceeds from sale of businesses, net — — 1.4\nAcquisitions, net of cash acquired (0.6) (1,580.9) (338.5)\n(Payments) receipts upon the settlement of net investment hedges (18.5) 78.9 —\nOther 4.1 0.3 2.7\nNet cash used for investing activities (85.4) (1,582.8) (390.7)\nFinancing activities\nNet (repayments) borrowings of revolving long-term debt (320.0) 124.5 159.4\nProceeds from long-term debt — 1,391.3 —\nRepayment of long-term debt (12.5) (88.3) (103.8)\nDebt issuance costs — (15.8) (2.3)\nShares issued to employees, net of shares withheld 9.6 (2.7) 22.2\nRepurchases of ordinary shares — (50.0) (150.0)\nDividends paid (145.2) (138.6) (133.0)\nReceipts (payments) upon the settlement of cross currency swaps — 12.3 (14.7)\nNet cash (used for) provided by financing activities (468.1) 1,232.7 (222.2)\nEffect of exchange rate changes on cash and cash equivalents (4.3) 1.2 12.1\nChange in cash and cash equivalents 61.4 14.4 12.4\nCash and cash equivalents, beginning of year 108.9 94.5 82.1\nCash and cash equivalents, end of year $ 170.3 $ 108.9 $ 94.5\nSupplemental disclosure of cash flow information:\nCash paid for interest, net $ 146.4 $ 57.0 $ 29.9\nCash paid for income taxes, net 120.0 122.6 71.8\nSee accompanying notes to consolidated financial statements.\n48\nPentair plc and Subsidiaries\nConsolidated Statements of Changes in Equity\nIn millions\nOrdinary shares Additional\npaid-in\nNumber Amount\ncapital\nRetained\nearnings\nAccumulated\nother\ncomprehensive\nloss Total\nBalance - December 31, 2020 166.1 $ 1.7 $ 1,680.7 $ 631.2 $ (207.3) $ 2,106.3\nNet income — — — 553.0 — 553.0\nOther comprehensive loss, net of tax — — — — (6.6) (6.6)\nDividends declared — — — (132.8) — (132.8)\nShare repurchases (2.1) — (150.0) — — (150.0)\nExercise of options, net of shares tendered for\npayment 0.9 — 30.1 — — 30.1\nIssuance of restricted shares, net of cancellations 0.3 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (7.9) — — (7.9)\nShare-based compensation — — 29.8 — — 29.8\nBalance - December 31, 2021 165.1 $ 1.7 $ 1,582.7 $ 1,051.4 $ (213.9) $ 2,421.9\nNet income — — — 480.9 — 480.9\nOther comprehensive loss, net of tax — — — — (25.1) (25.1)\nDividends declared — — — (141.8) — (141.8)\nShare repurchases (1.0) — (50.0) — — (50.0)\nExercise of options, net of shares tendered for\npayment 0.1 — 3.6 — — 3.6\nIssuance of restricted shares, net of cancellations 0.4 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (6.3) — — (6.3)\nShare-based compensation — — 24.9 — — 24.9\nBalance - December 31, 2022 164.5 $ 1.7 $ 1,554.9 $ 1,390.5 $ (239.0) $ 2,708.1\nNet income — — — 622.7 — 622.7\nOther comprehensive loss, net of tax — — — — (5.4) (5.4)\nDividends declared — — — (147.0) — (147.0)\nExercise of options, net of shares tendered for\npayment 0.4 — 18.3 — — 18.3\nIssuance of restricted shares, net of cancellations 0.5 — — — — —\nShares surrendered by employees to pay taxes (0.1) — (8.7) — — (8.7)\nShare-based compensation — — 29.1 — — 29.1\nBalance - December 31, 2023 165.3 $ 1.7 $ 1,593.6 $ 1,866.2 $ (244.4) $ 3,217.1\nSee accompanying notes to consolidated financial statements.\n49",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_company_type",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 4:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF\n1934\nFor the Fiscal Year Ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nCommission file number 001-11625\nPentair plc\n(Exact name of Registrant as specified in its charter)\nIreland 98-1141328\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification number)\nRegal House, 70 London Road, Twickenham, London, TW13QS United Kingdom\nName of each exchange on which registered\nNew York Stock Exchange\n(Address of principal executive offices)\nRegistrant’s telephone number, including area code: 44-74-9421-6154\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Ordinary Shares, nominal value $0.01 per share Trading Symbol(s) PNR Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging\ngrowth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2\nof the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or\nrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing\nreflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any\nof the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nAggregate market value of voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of $64.60 per share as\nreported on the New York Stock Exchange on June 30, 2023 (the last business day of Registrant’s most recently completed second quarter): $10,553,275,633.\nThe number of shares outstanding of Registrant’s only class of common stock on December 31, 2023 was 165,334,513.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_key_financials",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Net sales 4104.5m, gross profit: 1519.2m, operating income: 739.2m",
      "golden_context": "Page 31:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2023 2022 2021\n2023 vs 2022 2022 vs 2021\nNet sales $ 4,104.5 $ 4,121.8 $ 3,764.8 (0.4) % 9.5 %\nCost of goods sold 2,585.3 2,757.2 2,445.6 (6.2) % 12.7 %\nGross profit 1,519.2 1,364.6 1,319.2 11.3 % 3.4 %\n% of net sales 37.0 % 33.1 % 35.0 % 3.9 pts (1.9) pts\nSelling, general and administrative 680.2 677.1 596.4 0.5 % 13.5 %\n% of net sales 16.6 % 16.4 % 15.8 % 0.2 pts 0.6 pts\nResearch and development 99.8 92.2 85.9 8.2 % 7.3 %\n% of net sales 2.4 % 2.2 % 2.3 % 0.2 pts (0.1) pts\nOperating income 739.2 595.3 636.9 24.2 % (6.5) %\n% of net sales 18.0 % 14.4 % 16.9 % 3.6 pts (2.5) pts\nGain on sale of businesses — (0.2) (1.4) N.M. N.M.\nNet interest expense 118.3 61.8 12.5 N.M. N.M.\nOther expense (income) 2.0 (16.9) (1.0) N.M. N.M.\nIncome from continuing operations before income taxes 618.9 550.6 626.8 12.4 % (12.2) %\n(Benefit) provision for income taxes (4.0) 67.4 70.8 N.M. (4.8) %\nEffective tax rate (0.6) % 12.2 % 11.3 % (12.8) pts 0.9 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2023 vs 2022 2022 vs 2021\nVolume (11.3) % (7.1) %\nPrice 6.4 13.3\nCore growth (4.9) 6.2\nAcquisition/Divestiture 4.4 5.5\nCurrency 0.1 (2.2)\nTotal (0.4) % 9.5 %\nThe 0.4 percent decrease in consolidated net sales in 2023 from 2022 was primarily the result of:\n• decreased sales volume in our residential business within our Flow segment compared to the prior year;\n• decreased sales volume in our residential business within our Water Solutions segment driven by lower demand\ncompared to the prior year and certain business exits announced in the second half of 2022; and\n• decreased sales volume in our Pool segment primarily due to higher channel inventory and lower demand compared to\nthe prior year.\nThis decrease was partially offset by:\n• increased selling prices to mitigate a rise in inflatio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_revenue",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Net sales 4104.5m",
      "golden_context": "Page 31:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2023 2022 2021\n2023 vs 2022 2022 vs 2021\nNet sales $ 4,104.5 $ 4,121.8 $ 3,764.8 (0.4) % 9.5 %\nCost of goods sold 2,585.3 2,757.2 2,445.6 (6.2) % 12.7 %\nGross profit 1,519.2 1,364.6 1,319.2 11.3 % 3.4 %\n% of net sales 37.0 % 33.1 % 35.0 % 3.9 pts (1.9) pts\nSelling, general and administrative 680.2 677.1 596.4 0.5 % 13.5 %\n% of net sales 16.6 % 16.4 % 15.8 % 0.2 pts 0.6 pts\nResearch and development 99.8 92.2 85.9 8.2 % 7.3 %\n% of net sales 2.4 % 2.2 % 2.3 % 0.2 pts (0.1) pts\nOperating income 739.2 595.3 636.9 24.2 % (6.5) %\n% of net sales 18.0 % 14.4 % 16.9 % 3.6 pts (2.5) pts\nGain on sale of businesses — (0.2) (1.4) N.M. N.M.\nNet interest expense 118.3 61.8 12.5 N.M. N.M.\nOther expense (income) 2.0 (16.9) (1.0) N.M. N.M.\nIncome from continuing operations before income taxes 618.9 550.6 626.8 12.4 % (12.2) %\n(Benefit) provision for income taxes (4.0) 67.4 70.8 N.M. (4.8) %\nEffective tax rate (0.6) % 12.2 % 11.3 % (12.8) pts 0.9 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2023 vs 2022 2022 vs 2021\nVolume (11.3) % (7.1) %\nPrice 6.4 13.3\nCore growth (4.9) 6.2\nAcquisition/Divestiture 4.4 5.5\nCurrency 0.1 (2.2)\nTotal (0.4) % 9.5 %\nThe 0.4 percent decrease in consolidated net sales in 2023 from 2022 was primarily the result of:\n• decreased sales volume in our residential business within our Flow segment compared to the prior year;\n• decreased sales volume in our residential business within our Water Solutions segment driven by lower demand\ncompared to the prior year and certain business exits announced in the second half of 2022; and\n• decreased sales volume in our Pool segment primarily due to higher channel inventory and lower demand compared to\nthe prior year.\nThis decrease was partially offset by:\n• increased selling prices to mitigate a rise in inflatio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_revenue_growth",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 4104.5m, prior year 4123.8m",
      "golden_context": "Page 31:\n\nCONSOLIDATED RESULTS OF OPERATIONS\nThe consolidated results of operations were as follows:\nYears ended December 31 % / point change\nIn millions 2023 2022 2021\n2023 vs 2022 2022 vs 2021\nNet sales $ 4,104.5 $ 4,121.8 $ 3,764.8 (0.4) % 9.5 %\nCost of goods sold 2,585.3 2,757.2 2,445.6 (6.2) % 12.7 %\nGross profit 1,519.2 1,364.6 1,319.2 11.3 % 3.4 %\n% of net sales 37.0 % 33.1 % 35.0 % 3.9 pts (1.9) pts\nSelling, general and administrative 680.2 677.1 596.4 0.5 % 13.5 %\n% of net sales 16.6 % 16.4 % 15.8 % 0.2 pts 0.6 pts\nResearch and development 99.8 92.2 85.9 8.2 % 7.3 %\n% of net sales 2.4 % 2.2 % 2.3 % 0.2 pts (0.1) pts\nOperating income 739.2 595.3 636.9 24.2 % (6.5) %\n% of net sales 18.0 % 14.4 % 16.9 % 3.6 pts (2.5) pts\nGain on sale of businesses — (0.2) (1.4) N.M. N.M.\nNet interest expense 118.3 61.8 12.5 N.M. N.M.\nOther expense (income) 2.0 (16.9) (1.0) N.M. N.M.\nIncome from continuing operations before income taxes 618.9 550.6 626.8 12.4 % (12.2) %\n(Benefit) provision for income taxes (4.0) 67.4 70.8 N.M. (4.8) %\nEffective tax rate (0.6) % 12.2 % 11.3 % (12.8) pts 0.9 pts\nN.M. Not Meaningful\nNet sales\nThe components of the consolidated net sales change were as follows:\n2023 vs 2022 2022 vs 2021\nVolume (11.3) % (7.1) %\nPrice 6.4 13.3\nCore growth (4.9) 6.2\nAcquisition/Divestiture 4.4 5.5\nCurrency 0.1 (2.2)\nTotal (0.4) % 9.5 %\nThe 0.4 percent decrease in consolidated net sales in 2023 from 2022 was primarily the result of:\n• decreased sales volume in our residential business within our Flow segment compared to the prior year;\n• decreased sales volume in our residential business within our Water Solutions segment driven by lower demand\ncompared to the prior year and certain business exits announced in the second half of 2022; and\n• decreased sales volume in our Pool segment primarily due to higher channel inventory and lower demand compared to\nthe prior year.\nThis decrease was partially offset by:\n• increased selling prices to mitigate a rise in inflatio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000349_segments",
      "report_id": "ID_000349",
      "company_name": "Pentair",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Flow, Water Solutions and Pool",
      "golden_context": "Page 6:\n\n public limited company that was formed in 2014. We are the successor to Pentair Ltd., a Swiss corporation\nformed in 2012, and Pentair, Inc., a Minnesota corporation formed in 1966 and our wholly-owned subsidiary, under the Securities\nExchange Act of 1934, as amended (the “Exchange Act”). Although our jurisdiction of organization is Ireland, we manage our\naffairs so that we are centrally managed and controlled in the United Kingdom (the “U.K.”) and therefore have our tax residency\nin the U.K.\nIn July 2022, as part of our Water Solutions reporting segment, we acquired the issued and outstanding equity securities of certain\nsubsidiaries of Welbilt, Inc. (“Welbilt”) and certain other assets, rights, and properties, and assumed certain liabilities, comprising\nWelbilt’s Manitowoc Ice business (“Manitowoc Ice”), for approximately $1.6 billion in cash.\nOur registered principal office is located at Regal House, 70 London Road, Twickenham, London, TW13QS United Kingdom.\nOur management office in the United States (“U.S.”) is located at 5500 Wayzata Boulevard, Suite 900, Golden Valley,\nMinnesota.\nBUSINESS AND PRODUCTS\nPentair is comprised of three reportable business segments: Flow, Water Solutions and Pool. The following is a brief description\nof each of the Company’s reportable segments and business activities.\nFlow\nThe Flow segment (formerly named the Industrial & Flow Technologies segment) delivers water where it is needed, when it is\nneeded, more efficiently and transforms waste into value. This segment designs, manufactures and sells a variety of fluid\ntreatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater\nreuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer\npumps, turbine pumps, solid handling pumps, and agricultural spray nozzles, while serving the global residential, commercial and\nindustrial markets. These products and systems are used in a range of applications, including fluid delivery, ion exchange,\ndesalination, food and beverage, separation technologies for the oil and gas industry, residential and municipal wells, water\ntreatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural\nirrigation and crop spray.\nFor the fiscal year ended December 31, 2023, our residential and irrigation flow businesses, which sell pumps focused on\nresidential and agriculture, comprised approximately 39% of Flow sales. Another approximately 27% of Flow sales were from the\ncommercial & infrastructure flow businesses, which sell larger pumps focused on fire suppression, wastewater and flood control.\nThe remaining approximately 34% of Flow s",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_cash_flow",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 773m, investing: -790m, financing: -441m",
      "golden_context": "Page 49:\n\ns, and corporate debt securities; we have the ability to hold such restricted investments until\nmaturity. All of our unrestricted investments are classified as current assets.\nCash Flow Activities\nOur cash flows are summarized as follows:\nYear Ended December 31,\n2022 2021 Change\n(In millions)\nNet cash provided by operating activities $ 773 $ 2,119 $ (1,346)\nNet cash used in investing activities (790) (1,653) 863\nNet cash used in financing activities (441) (183) (258)\nNet (decrease) increase in cash, cash equivalents, and restricted cash\nand cash equivalents $ (458) $ 283 $ (741)\nOperating Activities\nWe typically receive capitation payments monthly, in advance of payments for medical claims; however, government\npayors may adjust their payment schedules, positively or negatively impacting our reported cash flows from\noperating activities in any given period. For example, government payors may delay our premium payments, or they\nmay prepay the following month’s premium payment.\nNet cash provided by operations was $773 million in 2022, compared with $2,119 million in 2021. The $1,346\nmillion decrease in 2022 cash flow was mainly due to the net impact of timing differences in government receivables\nand payables, including larger risk adjustment payments made in 2022 for the Marketplace 2021 plan year and\npayment for Medicaid minimum MLR and risk corridor settlements related to prior plan years.\nInvesting Activities\nNet cash used in investing activities was $790 million in 2022, compared with $1,653 million in 2021, an increase in\nyear-over-year cash flow of $863 million. This change in cash flow was primarily due to the net impact of proceeds\nand purchases of investments. In 2022 and 2021, we funded acquisitions in the amounts of $134 million and $129\nmillion, respectively.\nFinancing Activities\nNet cash used in financing activities was $441 million in 2022, compared with $183 million in 2021, a decrease in\nyear-over-year cash flow of $258 million. In 2022, cash outflows included common stock purchases of $400 million\nand $54 million for common stock withheld to settle employee tax obligations. In 2021, cash inflows included $740\nmillion from the issuance of the 3.875% Notes due 2032, and cash outflows included $723 million in repayment of\nthe 5.375% Notes due 2022, common stock purchases of $128 million and $53 million for common stock withheld to\nsettle employee tax obligations. Additionally, we paid $20 million in each of 2022 and 2021 to settle contingent\nconsideration liabilities relating to our Kentucky Passport acquisition that closed in 2020.\nFINANCIAL CONDITION\nWe believe that our cash resources, borrowing capacity available under our Credit Agreement as discussed further\nbelow in “Future Sources and Uses of Liquidity—Future Sources,” and internally generated funds will be sufficient to\nsupport our operations, regulatory requirements, debt repayment obligations and capital expenditures for at least\nthe next 12 months.\nOn a consolidated basis, as of December 31, 2022, our working capital was $3.2 billion compared with $3.0 billion\nas of December 31, 2021. At December 31, 2022, our cash and investments amounted to $7.7 billion, compared\nwith $7.9 billion of cash and investments at December 31, 2021. A ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_company_type",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nCommission File Number 1-31719\nMOLINA HEALTHCARE, INC.\n(Exact name of registrant as specified in its charter)\nTitle of Each Class Common Stock, $0.001 Par Value Delaware 13-4204626\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n200 Oceangate, Suite 100, Long Beach, California 90802\n(Address of principal executive offices)\n(562) 435-3666\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) MOH Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_key_financials",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Premium revenue 30883m, diluted GAAP net income per share 13.55, diluted adjusted net income per share 17.92",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.3 million\nmembers as of December 31, 2022. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n90%\nMedicaid\n80%\nMedicaid\n'18\n'19\n'20\n'21\n'22\n7%\nMarketplace\n3%\nMedicare\nHistorical Highlights\nPremium Revenue\n($ Millions)\n17,612\n'18\n16,208\n'19\n'20\n'21\n'22\n8%\nMarketplace\n12%\nMedicare\nDiluted GAAP Net Income\nper Share\n$10.61\n$11.47\nDiluted Adjusted Net\nIncome per Share1\n$11.74\n$11.57\n18,299\n$11.23\n$10.67\n26,855\n$11.25\n30,883\n$13.55\n'18\n'19\n'20\n'21\n'22\n1 See the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\n$13.54\n$17.92\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 3, 2023, at 10:00 a.m. Eastern Time live via th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_revenue",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "Premium revenue 30883m",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.3 million\nmembers as of December 31, 2022. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n90%\nMedicaid\n80%\nMedicaid\n'18\n'19\n'20\n'21\n'22\n7%\nMarketplace\n3%\nMedicare\nHistorical Highlights\nPremium Revenue\n($ Millions)\n17,612\n'18\n16,208\n'19\n'20\n'21\n'22\n8%\nMarketplace\n12%\nMedicare\nDiluted GAAP Net Income\nper Share\n$10.61\n$11.47\nDiluted Adjusted Net\nIncome per Share1\n$11.74\n$11.57\n18,299\n$11.23\n$10.67\n26,855\n$11.25\n30,883\n$13.55\n'18\n'19\n'20\n'21\n'22\n1 See the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\n$13.54\n$17.92\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 3, 2023, at 10:00 a.m. Eastern Time live via th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_revenue_growth",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "Premium revenue 30883m, prior year 26855m",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.3 million\nmembers as of December 31, 2022. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n90%\nMedicaid\n80%\nMedicaid\n'18\n'19\n'20\n'21\n'22\n7%\nMarketplace\n3%\nMedicare\nHistorical Highlights\nPremium Revenue\n($ Millions)\n17,612\n'18\n16,208\n'19\n'20\n'21\n'22\n8%\nMarketplace\n12%\nMedicare\nDiluted GAAP Net Income\nper Share\n$10.61\n$11.47\nDiluted Adjusted Net\nIncome per Share1\n$11.74\n$11.57\n18,299\n$11.23\n$10.67\n26,855\n$11.25\n30,883\n$13.55\n'18\n'19\n'20\n'21\n'22\n1 See the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\n$13.54\n$17.92\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 3, 2023, at 10:00 a.m. Eastern Time live via th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000351_segments",
      "report_id": "ID_000351",
      "company_name": "Molina Healthcare",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other",
      "golden_context": "Page 11:\n\nal Revenue $ 31,974 $ 27,771\nMedical Care Ratio (“MCR”) (1) 88.0% 88.3%\nNet Income $ 792 $ 659\nNet Income per Diluted Share $ 13.55 $ 11.25\n_______________________\n(1) Medical care ratio represents medical care costs as a percentage of premium revenue.\nOUR SEGMENTS\nWe currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other.\nThe Medicaid, Medicare, and Marketplace segments represent the government-funded or sponsored programs\nunder which we offer managed healthcare services. The Other segment, which is insignificant to our consolidated\nresults of operations, includes long-term services and supports consultative services in Wisconsin.\nRefer to Notes to Consolidated Financial Statements, Note 16, “Segments,” for further information, including\nsegment revenue and profit information.\nMolina Healthcare, Inc. 2022 Form 10-K | 3\nSEGMENT MEMBERSHIP\nThe following table summarizes our membership by segment as of the dates indicated:\nAs of December 31,\n2022 2021\nMedicaid 4,754,000 4,329,000\nMedicare 156,000 142,000\nMarketplace 348,000 728,000\nTotal 5,258,000 5,199,000\nSEGMENT PREMIUM REVENUE\nThe following table presents our conso",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_cash_flow",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1662m, investing: -744m, financing: -58m",
      "golden_context": "Page 64:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n2023 2022 2021\n(In millions)\nOperating activities:\nNet income $ 1,091 $ 792 $ 659\nAdjustments to reconcile net income to net cash provided by operating\nactivities:\nDepreciation and amortization 171 176 131\nDeferred income taxes (31) (66) (24)\nShare-based compensation 115 103 72\nLoss on debt repayment — — 25\nImpairment — 208 —\nOther, net 2 8 33\nChanges in operating assets and liabilities, net of the effect of acquisitions:\nReceivables (778) (95) (415)\nPrepaid expenses and other current assets (69) (124) (19)\nMedical claims and benefits payable 580 153 471\nAmounts due government agencies 196 (428) 1,046\nAccounts payable, accrued liabilities and other 328 55 138\nDeferred revenue 59 (11) (5)\nIncome taxes (2) 2 7\nNet cash provided by operating activities 1,662 773 2,119\nInvesting activities:\nPurchases of investments (1,433) (1,913) (2,713)\nProceeds from sales and maturities of investments 772 1,398 1,329\nNet cash paid in business combinations (3) (134) (129)\nPurchases of property, equipment and capitalized software (84) (91) (77)\nOther, net 4 (50) (63)\nNet cash used in investing activities (744) (790) (1,653)\nFinancing activities:\nCommon stock purchases — (400) (128)\nCommon stock withheld to settle employee tax obligations (60) (54) (53)\nContingent consideration liabilities settled — (20) (20)\nProceeds from senior notes offerings, net of issuance costs — — 740\nRepayment of senior notes — — (723)\nOther, net 2 33 1\nNet cash used in financing activities (58) (441) (183)\nNet increase (decrease) in cash and cash equivalents, and restricted cash\nand cash equivalents 860 (458) 283\nCash and cash equivalents, and restricted cash and cash equivalents at\nbeginning of period 4,048 4,506 4,223\nCash and cash equivalents, and restricted cash and cash equivalents at end\nof period $ 4,908 $ 4,048 $ 4,506\nSee accompanying notes.\nMolina Healthcare, Inc. 2023 Form 10-K | 56\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(continued)\nYear Ended December 31,\n2023 2022 2021\n(In millions)\nSupplemental cash flow information:\nCash paid during the period for:\nIncome taxes, net $ 405 $ 340 $ 235\nInterest $ 108 $ 108 $ 127\nSee accompanying notes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_company_type",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFOR THE FISCAL YEAR ENDED DECEMBER 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________\nCommission File Number 1-31719\nMOLINA HEALTHCARE, INC.\n(Exact name of registrant as specified in its charter)\nTitle of Each Class Common Stock, $0.001 Par Value Delaware 13-4204626\n(State or other jurisdiction of (I.R.S. Employer\nincorporation or organization) Identification No.)\n200 Oceangate, Suite 100, Long Beach, California 90802\n(Address of principal executive offices)\n(562) 435-3666\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) MOH Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_key_financials",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Premium revenue 32529m, diluted GAAP net income per share 18.77, diluted adjusted net income per share 20.88",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.0 million\nmembers as of December 31, 2023. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n91%\nMedicaid\n81%\nMedicaid\n6%\nMarketplace\n3%\nMedicare\nHistorical Highlights\n6%\nMarketplace\n13%\nMedicare\nPremium Revenue\n($ Millions)\n16,208\n18,299\nDiluted GAAP Net Income\nper Share\n$11.47\n$11.23\nDiluted Adjusted Net\nIncome per Share\n$11.57\n$10.67\n'19\n'20\n'21\n'22\n'23\n26,855\n30,883\n32,529\n'19\n'20\n'21\n'22\n'23\n$11.25\n$13.55\n$18.77\n'19\n'20\n'21\n'22\n'23\n$13.54\n$17.92\n$20.88\nSee the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 1, 2024, at 10:00 a.m. Eastern Time live via the\ninternet at www.virtualshareholdermeeting.com/MOH2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_revenue",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "32529m",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.0 million\nmembers as of December 31, 2023. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n91%\nMedicaid\n81%\nMedicaid\n6%\nMarketplace\n3%\nMedicare\nHistorical Highlights\n6%\nMarketplace\n13%\nMedicare\nPremium Revenue\n($ Millions)\n16,208\n18,299\nDiluted GAAP Net Income\nper Share\n$11.47\n$11.23\nDiluted Adjusted Net\nIncome per Share\n$11.57\n$10.67\n'19\n'20\n'21\n'22\n'23\n26,855\n30,883\n32,529\n'19\n'20\n'21\n'22\n'23\n$11.25\n$13.55\n$18.77\n'19\n'20\n'21\n'22\n'23\n$13.54\n$17.92\n$20.88\nSee the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 1, 2024, at 10:00 a.m. Eastern Time live via the\ninternet at www.virtualshareholdermeeting.com/MOH2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_revenue_growth",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "32529m, prior year 30883m",
      "golden_context": "Page 2:\n\nCompany Profile\nMolina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and\nMedicare programs and through the state insurance marketplaces. Molina Healthcare served approximately 5.0 million\nmembers as of December 31, 2023. For more information about Molina Healthcare, please visit molinahealthcare.com.\nLine of Business Profile\nMembership by Line of Business Premium by Line of Business\n91%\nMedicaid\n81%\nMedicaid\n6%\nMarketplace\n3%\nMedicare\nHistorical Highlights\n6%\nMarketplace\n13%\nMedicare\nPremium Revenue\n($ Millions)\n16,208\n18,299\nDiluted GAAP Net Income\nper Share\n$11.47\n$11.23\nDiluted Adjusted Net\nIncome per Share\n$11.57\n$10.67\n'19\n'20\n'21\n'22\n'23\n26,855\n30,883\n32,529\n'19\n'20\n'21\n'22\n'23\n$11.25\n$13.55\n$18.77\n'19\n'20\n'21\n'22\n'23\n$13.54\n$17.92\n$20.88\nSee the reconciliation of GAAP to Adjusted Net Income per Share on Page A3\nAnnual Meeting\nThe annual meeting of stockholders will be held on Wednesday, May 1, 2024, at 10:00 a.m. Eastern Time live via the\ninternet at www.virtualshareholdermeeting.com/MOH2024.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000352_segments",
      "report_id": "ID_000352",
      "company_name": "Molina Healthcare",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other",
      "golden_context": "Page 11:\n\nPremium Revenue $ 32,529 $ 30,883\nTotal Revenue $ 34,072 $ 31,974\nMedical Care Ratio (“MCR”) (1) 88.1% 88.0%\nNet Income $ 1,091 $ 792\nNet Income per Diluted Share $ 18.77 $ 13.55\n_______________________\n(1) Medical care ratio represents medical care costs as a percentage of premium revenue.\nOUR SEGMENTS\nWe currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other.\nThe Medicaid, Medicare, and Marketplace segments represent the government-funded or sponsored programs\nunder which we offer managed healthcare services. The Other segment, which is insignificant to our consolidated\nresults of operations, includes long-term services and supports consultative services in Wisconsin.\nRefer to Notes to Consolidated Financial Statements, Note 16, “Segments,” for further information, including\nsegment revenue and profit information.\nMolina Healthcare, Inc. 2023 Form 10-K | 3\nSEGMENT MEMBERSHIP\nThe following table summarizes our membership by segment as of the dates indicated:\nAs of December 31,\n2023 2022\nMedicaid 4,542,000 4,754,000\nMedicare 172,000 156,000\nMarketplace 281,000 348,000\nTotal 4,995,000 5,258,000\nSEGMENT PREMIUM REVENUE\nThe following table presents our consolidated premium revenue by segment for the periods indicated:\nYear Ended December 31,\n2023 2022\n(In millions)\nMedicaid $ 26,327 $ 24,827\nMedicare 4,179 3,795\nMarketplace 2,023 2,261\nTotal $ 32,529 $ 30,883\nMISSION\nWe improve the health and lives of our members by delivering high-quality healthcare.\nVISION\nWe will distinguish ourselves as the low-cost, most effective and reliable health plan delivering government-\nsponsored care.\nSTRATEGY\nOur long-term growth strategy remains unchanged, as we continue to be a pure-play government-sponsored\nhealthcare business, which provides us with opportunities to compete in high-growth, synergistic market segments\nwith attractive and sustaina",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_cash_flow",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 750.5m, investing: -203.5m, financing: -447.7m",
      "golden_context": "Page 52:\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n2021 2020 2019\n(In millions)\nCash flows from operating activities\nNet income $ 492.8 $ 390.6 $ 514.5\nAdjustments to reconcile net income to net cash provided by operating\nactivities:\nDepreciation expense 41.3 39.7 39.4\nAmortization expense 138.6 157.8 167.8\nDeferred income taxes (26.9) (52.9) (220.2)\nStock-based compensation 122.6 83.0 75.0\nDivestitures (gain) loss, net (43.9) (12.2) (12.4)\nOther, net 19.2 42.4 10.1\n(Increase) decrease in assets:\nAccounts receivable, net (9.0) (14.0) (96.0)\nInventories (72.9) (5.0) (21.3)\nOther current and non-current assets (30.2) 2.5 11.0\nIncrease (decrease) in liabilities:\nAccounts payable 60.3 (15.7) 14.5\nAccrued compensation and benefits 54.1 34.9 (46.4)\nDeferred revenue 27.4 65.7 148.2\nOther current and non-current liabilities (22.9) (44.8) 0.8\nNet cash provided by operating activities 750.5 672.0 585.0\nCash flow from investing activities:\nAcquisitions of businesses, net of cash acquired (236.1) (201.9) (220.8)\nPurchases of property and equipment (46.1) (56.8) (69.0)\nNet proceeds from sale of businesses 67.3 27.5 0.5\nNet proceeds from sale of property and equipment 20.8 0.4 0.4\nOther, net (9.4) (1.0) 13.6\nNet cash used in investing activities (203.5) (231.8) (275.3)\nCash flows from financing activities:\nIssuance of common stock, net of tax withholdings (15.1) 10.0 29.1\nRepurchase of common stock (180.0) (81.6) (179.8)\nProceeds from debt and revolving credit lines 198.9 1,173.8 1,195.4\nPayments on debt and revolving credit lines (449.9) (1,486.0) (1,322.9)\nOther, net (1.6) (16.5) (14.4)\nNet cash used in financing activities (447.7) (400.3) (292.6)\nEffect of exchange rate changes on cash and cash equivalents (11.3) 8.6 (0.4)\nNet increase in cash and cash equivalents 88.0 48.5 16.7\nCash and cash equivalents - beginning of year 237.7 189.2 172.5\nCash and cash equivalents - end of year $ 325.7 $ 237.7 $ 189.2\nSupplemental cash flow disclosure:\nCash paid for income taxes, net $ 98.3 $ 59.0 $ 63.1\nCash paid for interest $ 61.8 $ 71.8 $ 79.2\nSee accompanying Notes to the Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_company_type",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-14845\nTRIMBLE INC.\n(Exact name of Registrant as specified in its charter)\nDelaware 94-2802192\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n935 Stewart Drive, Sunnyvale, CA\n(Address of principal executive offices)\n94085\n(Zip Code)\nRegistrant’s telephone number, including area code: (408) 481-8000\nTitle of each class Common Stock, $0.001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nTRMB NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes ☒ No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.\nLarge Accelerated Filer ☒ Accelerated Filer ☐\nNon-accelerated Filer ☐ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_key_financials",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Total revenue 3659.1m, gross margin 2034.7m, operating income 561m",
      "golden_context": "Page 36:\n\neview intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of\nthose assets may not be recoverable based on their future cash flows. The estimated future cash flows are primarily based on\nassumptions about expected future operating performance.\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2021 2020 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,247.5 $ 1,828.0 $ 419.5 23 %\nService 649.4 644.8 4.6 1 %\nSubscription 762.2 674.9 87.3 13 %\nTotal revenue $ 3,659.1 $ 3,147.7 $ 511.4 16 %\nGross margin 2,034.7 1,754.9 279.8 16 %\nGross margin as a % of revenue 55.6 % 55.8 %\nOperating income 561.0 419.8 141.2 34 %\nOperating income as a % of revenue 15.3 % 13.3 %\nDiluted earnings per share $ 1.94 $ 1.55 $ 0.39 25 %\nNon-GAAP revenue (1) $ 3,659.4 $ 3,152.0 $ 507.4 16 %\nNon-GAAP operating income (1) 857.0 719.6 137.4 19 %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 23.4 % 22.8 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.23 $ 0.43 19 %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,409.1 $ 1,295.8 $ 113.3 9 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this Annual\nReport on Form 10-K for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2021 was December 31, 2021. Both\n2021 and 2020 were 52–week years.\nYear 2021 Compared with Year 2020\nRevenue\nDespite supply constraints and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_revenue",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Total revenue 3659.1m",
      "golden_context": "Page 36:\n\neview intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of\nthose assets may not be recoverable based on their future cash flows. The estimated future cash flows are primarily based on\nassumptions about expected future operating performance.\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2021 2020 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,247.5 $ 1,828.0 $ 419.5 23 %\nService 649.4 644.8 4.6 1 %\nSubscription 762.2 674.9 87.3 13 %\nTotal revenue $ 3,659.1 $ 3,147.7 $ 511.4 16 %\nGross margin 2,034.7 1,754.9 279.8 16 %\nGross margin as a % of revenue 55.6 % 55.8 %\nOperating income 561.0 419.8 141.2 34 %\nOperating income as a % of revenue 15.3 % 13.3 %\nDiluted earnings per share $ 1.94 $ 1.55 $ 0.39 25 %\nNon-GAAP revenue (1) $ 3,659.4 $ 3,152.0 $ 507.4 16 %\nNon-GAAP operating income (1) 857.0 719.6 137.4 19 %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 23.4 % 22.8 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.23 $ 0.43 19 %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,409.1 $ 1,295.8 $ 113.3 9 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this Annual\nReport on Form 10-K for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2021 was December 31, 2021. Both\n2021 and 2020 were 52–week years.\nYear 2021 Compared with Year 2020\nRevenue\nDespite supply constraints and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_revenue_growth",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenue 3659.1m, prior year: 3147.7m",
      "golden_context": "Page 36:\n\neview intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of\nthose assets may not be recoverable based on their future cash flows. The estimated future cash flows are primarily based on\nassumptions about expected future operating performance.\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2021 2020 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,247.5 $ 1,828.0 $ 419.5 23 %\nService 649.4 644.8 4.6 1 %\nSubscription 762.2 674.9 87.3 13 %\nTotal revenue $ 3,659.1 $ 3,147.7 $ 511.4 16 %\nGross margin 2,034.7 1,754.9 279.8 16 %\nGross margin as a % of revenue 55.6 % 55.8 %\nOperating income 561.0 419.8 141.2 34 %\nOperating income as a % of revenue 15.3 % 13.3 %\nDiluted earnings per share $ 1.94 $ 1.55 $ 0.39 25 %\nNon-GAAP revenue (1) $ 3,659.4 $ 3,152.0 $ 507.4 16 %\nNon-GAAP operating income (1) 857.0 719.6 137.4 19 %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 23.4 % 22.8 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.23 $ 0.43 19 %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,409.1 $ 1,295.8 $ 113.3 9 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this Annual\nReport on Form 10-K for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2021 was December 31, 2021. Both\n2021 and 2020 were 52–week years.\nYear 2021 Compared with Year 2020\nRevenue\nDespite supply constraints and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000353_segments",
      "report_id": "ID_000353",
      "company_name": "Trimble",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Buildings and Infrastructure, Geospatial, Resources and Utilities, and\nTransportation",
      "golden_context": "Page 9:\n\ndelivered sustainability for our customers, and we envision more opportunities to deliver\nexpanded carbon reductions and other sustainability benefits, such as water management in agriculture and utilities, for\nour customers through our Connect and Scale and the other strategies we have described.\nOur focus on these growth drivers has led over time to growth in revenue and profitability and an increasingly diversified\nbusiness model. As our solutions have expanded, our go-to-market model has also evolved, with a balanced mix between\ndirect, distribution, and OEM customers, as well as an increasing number of enterprise-level customer relationships.\nBusiness Segments and Markets\nOur segments are distinguished by the markets they serve. Each segment consists of businesses that are responsible for product\ndevelopment, marketing, sales, strategy, and financial performance. We report our financial performance, including revenue\nand operating income, based on four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and\nTransportation. For further financial information about our segments, see Note 5 to the Consolidated Financial Statements in\nthis Annual Report on Form 10-K.\nBuildings and Infrastructure\nThe Buildings and Infrastructure segment primarily serves customers working in architecture, engineering, construction, and\noperations and maintenance. Within this segment, our most substantial product portfolios are focused on building construction\nand civil engineering and construction.\nBuilding Construction. Our building construction portfolio of solutions for the residential, commercial, and industrial building\nindustry spans the entire life cycle of a building and is used by construction owners, architects, designers, general contractors,\nsub-contractors, and engineers. These solutions serve to improve productivity and to enhance data sharing and collaboration\nacross different teams and stakeholders to help keep projects within cost, time, and quality targets. The suite of technologies\nand solutions we provide to the building industry includes program management solutions for construction owners including\nsoftware for 3D conceptual design and modeling; BIM software that is used in design, engineering, and construction; enterprise\nresource planning, project management, and project collaboration for general contractors; advanced integrated site layout and\nmeasurement systems; cost estimating; scheduling; and project controls solutions for contractors. The suite also includes\napplications for sub-contractors and construction trades such as steel, concrete, and mechanical, electrical and plumbing; project\ncoordination; and capital program planning and management. In addition, our Trimble Connect collaboration platform\nstreamlines customer workflows and enables interoperability between Trimble’s and other providers' solutions. These solutions\nfor the building industry serve to automate, streamline, and transform work processes across the building construction industry.\nOur solutions provide customer benefits such as reduced costs, reduced waste and re-work, increased worker safety and\nefficiencies, faster project completion times, improved information flow, better decision making, enhanced quality control, and\nmultiple sustainability benefits for our customers.\nDuring 2021, we announced new developments in several of our software offerings, including: (i) the release of Tekla 2021\nStructural BIM software solutions, which include new software features and enhancements to power data-driven, collaborative,\nand connected workflows across all project phases, (ii) the introduction of Trimble Construction OneTM, a connected, cloud-\nbased construction management platform, (iii) the formation of a strategic partnership with Microsoft to drive digital\ntransformation across industries, and (iv) collaboration with One Click LCA to add an embodied carbon assessment tool into\nTekla Structures to help customers understand the carbon from the materials they use and help them optimize among early\ndesign choices.\nCivil Engineering and Construction. Our civil engineering and construction portfolio spans the lifecycle of civil infrastructure\nassets from feasibility and capital budgeting, to planning and design, to construction, through to long-term operation and\nmaintenance. Our solutions serve the key industry stakeholders including the asset owners or clients, design engineers,\nconsultants, contractors, sub-contractors, and suppliers. Our technological suite is employed across the entire project life cycle\nto improve productivity, reduce was",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000354_company_type",
      "report_id": "ID_000354",
      "company_name": "Trimble",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 30, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-14845\nTRIMBLE INC.\n(Exact name of Registrant as specified in its charter)\nDelaware 94-2802192\n(State or other jurisdiction of\n(I.R.S. Employer\nincorporation or organization)\nIdentification No.)\n10368 Westmoor Dr, Westminster, CO\n(Address of principal executive offices)\n80021\n(Zip Code)\nRegistrant’s telephone number, including area code: (720) 887-6100\nTitle of each class Common Stock, $0.001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nTRMB NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes ☒ No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.\nLarge Accelerated Filer ☒ Accelerated Filer ☐\nNon-accelerated Filer ☐ Smaller Reporting Company ☐\nEmerging Growth Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000354_key_financials",
      "report_id": "ID_000354",
      "company_name": "Trimble",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Total revenue 3676.3m, prior year 3659.1m, gross margin 2105.6m, diluted EPS 1.8",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2022 2021 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,152.0 $ 2,247.5 $ (95.5) (4) %\nService 641.3 649.4 (8.1) (1) %\nSubscription 883.0 762.2 120.8 16 %\nTotal revenue $ 3,676.3 $ 3,659.1 $ 17.2 — %\nGross margin 2,105.6 2,034.7 70.9 3 %\nGross margin as a % of revenue 57.3 % 55.6 %\nOperating income 510.9 561.0 (50.1) (9) %\nOperating income as a % of revenue 13.9 % 15.3 %\nDiluted earnings per share $ 1.80 $ 1.94 $ (0.14) (7) %\nNon-GAAP revenue (1) $ 3,676.3 $ 3,659.4 $ 16.9 — %\nNon-GAAP operating income (1) 841.5 857.0 (15.5) (2) %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 22.9 % 23.4 %\nNon-GAAP diluted earnings per share (1) $ 2.64 $ 2.66 $ (0.02) (1) %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,603.7 $ 1,409.1 $ 194.6 14 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2022 was December 30, 2022. Both\n2022 and 2021 were 52–week years.\nYear 2022 Compared with Year 2021\nRevenue\n2022\nChange versus 2021 % Change\nChange in total revenue — %\nAcquisitions 1 %\nDivestitures (4) %\nForeign currency exchange (4) %\nOrganic revenue growth - total revenue 7 %\nAlthough organic revenue increased for fiscal 2022, it decelerated in the second half of the year due to slowing demand in some\nof our end markets and reductions in dealer inventory levels as a result of improved product lead times and macroeconomic\nconcerns. Additionally, Geospatial had unusually strong hardware sales in the previous year. Throughout the year, software\nand subscription sales were strong in buildings businesses in Buildings and Infrastructure, and to a lesser extent, positioning\nservices in Resources and U",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000354_revenue",
      "report_id": "ID_000354",
      "company_name": "Trimble",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Total revenue 3676.3m",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2022 2021 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,152.0 $ 2,247.5 $ (95.5) (4) %\nService 641.3 649.4 (8.1) (1) %\nSubscription 883.0 762.2 120.8 16 %\nTotal revenue $ 3,676.3 $ 3,659.1 $ 17.2 — %\nGross margin 2,105.6 2,034.7 70.9 3 %\nGross margin as a % of revenue 57.3 % 55.6 %\nOperating income 510.9 561.0 (50.1) (9) %\nOperating income as a % of revenue 13.9 % 15.3 %\nDiluted earnings per share $ 1.80 $ 1.94 $ (0.14) (7) %\nNon-GAAP revenue (1) $ 3,676.3 $ 3,659.4 $ 16.9 — %\nNon-GAAP operating income (1) 841.5 857.0 (15.5) (2) %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 22.9 % 23.4 %\nNon-GAAP diluted earnings per share (1) $ 2.64 $ 2.66 $ (0.02) (1) %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,603.7 $ 1,409.1 $ 194.6 14 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2022 was December 30, 2022. Both\n2022 and 2021 were 52–week years.\nYear 2022 Compared with Year 2021\nRevenue\n2022\nChange versus 2021 % Change\nChange in total revenue — %\nAcquisitions 1 %\nDivestitures (4) %\nForeign currency exchange (4) %\nOrganic revenue growth - total revenue 7 %\nAlthough organic revenue increased for fiscal 2022, it decelerated in the second half of the year due to slowing demand in some\nof our end markets and reductions in dealer inventory levels as a result of improved product lead times and macroeconomic\nconcerns. Additionally, Geospatial had unusually strong hardware sales in the previous year. Throughout the year, software\nand subscription sales were strong in buildings businesses in Buildings and Infrastructure, and to a lesser extent, positioning\nservices in Resources and U",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000354_revenue_growth",
      "report_id": "ID_000354",
      "company_name": "Trimble",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenue 3676.3m, prior year 3659.1m",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2022 2021 Dollar Change % Change\n(In millions)\nRevenue:\nProduct $ 2,152.0 $ 2,247.5 $ (95.5) (4) %\nService 641.3 649.4 (8.1) (1) %\nSubscription 883.0 762.2 120.8 16 %\nTotal revenue $ 3,676.3 $ 3,659.1 $ 17.2 — %\nGross margin 2,105.6 2,034.7 70.9 3 %\nGross margin as a % of revenue 57.3 % 55.6 %\nOperating income 510.9 561.0 (50.1) (9) %\nOperating income as a % of revenue 13.9 % 15.3 %\nDiluted earnings per share $ 1.80 $ 1.94 $ (0.14) (7) %\nNon-GAAP revenue (1) $ 3,676.3 $ 3,659.4 $ 16.9 — %\nNon-GAAP operating income (1) 841.5 857.0 (15.5) (2) %\nNon-GAAP operating income as a % of Non-GAAP revenue (1) 22.9 % 23.4 %\nNon-GAAP diluted earnings per share (1) $ 2.64 $ 2.66 $ (0.02) (1) %\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,603.7 $ 1,409.1 $ 194.6 14 %\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2022 was December 30, 2022. Both\n2022 and 2021 were 52–week years.\nYear 2022 Compared with Year 2021\nRevenue\n2022\nChange versus 2021 % Change\nChange in total revenue — %\nAcquisitions 1 %\nDivestitures (4) %\nForeign currency exchange (4) %\nOrganic revenue growth - total revenue 7 %\nAlthough organic revenue increased for fiscal 2022, it decelerated in the second half of the year due to slowing demand in some\nof our end markets and reductions in dealer inventory levels as a result of improved product lead times and macroeconomic\nconcerns. Additionally, Geospatial had unusually strong hardware sales in the previous year. Throughout the year, software\nand subscription sales were strong in buildings businesses in Buildings and Infrastructure, and to a lesser extent, positioning\nservices in Resources and U",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000354_segments",
      "report_id": "ID_000354",
      "company_name": "Trimble",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation",
      "golden_context": "Page 10:\n\nglobal supply chains, in alignment with our Connect and Scale strategy. We believe the acquisition will\nadvance our sustainability strategy by reducing under-utilized carrier capacity and “empty miles” and increase our\ninternational footprint and long-term Transportation opportunities.\nWe also formed a strategic venture fund in 2021 (“Trimble Ventures”). With this fund, we expect to invest up to $200\nmillion in early- to growth-stage companies that can accelerate innovation and effectively bring new solutions to our\ncustomers and the industries that we serve and would give us an early, inside look and stake in emerging business and\ntechnology solutions. To date, we have invested a total of $20.5 million in early stage companies.\n• Sustainability. The global economy is experiencing a fundamental shift toward sustainability driven through broad\nstakeholder engagement, with a focus on decarbonization. Historically, through delivering productivity and efficiency\ngains, Trimble products have delivered sustainability for our customers, and we envision more opportunities to deliver\nexpanded carbon reductions and other sustainability benefits, such as water management in agriculture and utilities.\nOur focus on these growth drivers has led over time to growth in revenue and profitability and an increasingly diversified\nbusiness model. As our solutions have expanded, our go-to-market model has also evolved, with a balanced mix between\ndirect, distribution, and OEM customers, as well as an increasing number of enterprise-level customer relationships.\nBusiness Segments and Markets\nOur segments are distinguished by the markets they serve. Each segment consists of businesses that are responsible for product\ndevelopment, marketing, sales, strategy, and financial performance. We report our financial performance, including revenue\nand operating income, based on four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and\nTransportation. For further financial information about our segments, see Note 6 “Reporting Segment and Geographic\nInformation” of this report.\nBuildings and Infrastructure\nThe Buildings and Infrastructure segment primarily serves customers working in architecture, engineering, construction, design,\nasset management, operations, and maintenance. Within this segment, our most substantial product portfolios are focused on\nbuilding and civil engineering construction, design, capital planning, and asset management.\nBuilding Construction. Our building construction portfolio of solutions for the residential, commercial, and industrial building\nindustry spans the entire lifecycle of a building and is used by construction owners, architects, designers, general contractors,\nsub-contractors, and engineers. These solutions serve to improve productivity and to enhance data sharing and collaboration\nacross different teams and stakeholders to help keep projects within cost, time, and quality targets. The suite of technologies\nand solutions we provide to the building industry includes program management solutions for construction owners including\nsoftware for 3D conceptual design and modeling; BIM software that is used in design, engineering, and construction; enterprise\nresource planning, project management, and project collaboration for general contractors; and advanced integrated site layout\nand measurement systems, cost estimating, scheduling, and project controls solutions for contractors. The suite also includes\napplications for sub-contractors and construction trades such as steel, concrete, and mechanical, electrical and plumbing; project\ncoordination; and capital program planning and management. In addition, our Trimble Connect collaboration platform\nstreamlines customer workflows and enables interoperability between Trimble’s and other providers' solutions. These solutions\nfor the building industry serve to au",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_cash_flow",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 597.1m, investing: -2068.1m, financing: 1431.5m",
      "golden_context": "Page 54:\n\nTRIMBLE INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions) 2023 2022 2021\nCash flow from operating activities:\nNet income $ 311.3 $ 449.7 $ 492.8\nAdjustments to reconcile net income to net cash provided by\noperating activities:\nDepreciation expense 38.3 40.2 41.3\nAmortization expense 212.3 131.6 138.6\nDeferred income taxes (104.6) (40.0) (26.9)\nStock-based compensation 145.4 120.4 122.6\nDivestitures gain, net (9.2) (99.0) (43.9)\nOther, net 11.6 41.7 19.2\n(Increase) decrease in assets:\nAccounts receivable, net (36.4) (55.4) (9.0)\nInventories 67.6 (113.5) (72.9)\nOther current and non-current assets (67.2) (46.3) (30.2)\nIncrease (decrease) in liabilities:\nAccounts payable (12.4) (24.8) 60.3\nAccrued compensation and benefits 20.8 (54.2) 54.1\nDeferred revenue 26.0 108.6 27.4\nIncome taxes payable (4.0) (38.3) (2.9)\nOther current and non-current liabilities (2.4) (29.5) (20.0)\nNet cash provided by operating activities 597.1 391.2 750.5\nCash flow from investing activities:\nAcquisitions of businesses, net of cash acquired (2,088.9) (373.5) (236.1)\nPurchases of property and equipment (42.0) (43.2) (46.1)\nNet proceeds from divestitures 17.0 215.4 67.3\nOther, net 45.8 (25.0) 11.4\nNet cash used in investing activities (2,068.1) (226.3) (203.5)\nCash flow from financing activities:\nIssuance of common stock, net of tax withholdings 6.7 (13.6) (15.1)\nRepurchases of common stock (100.0) (394.7) (180.0)\nProceeds from debt and revolving credit lines 3,847.1 814.8 198.9\nPayments on debt and revolving credit lines (2,292.9) (590.2) (449.9)\nOther, net (29.4) (15.3) (1.6)\nNet cash provided by (used in) financing activities 1,431.5 (199.0) (447.7)\nEffect of exchange rate changes on cash and cash equivalents 7.4 (20.6) (11.3)\nNet (decrease) increase in cash and cash equivalents (32.1) (54.7) 88.0\nCash and cash equivalents - beginning of period 271.0 325.7 237.7\nCash and cash equivalents - end of period (1) $ 238.9 $ 271.0 $ 325.7\nSupplemental cash flow disclosure:\nCash paid for income taxes, net $ 168.0 $ 197.3 $ 98.3\nCash paid for interest $ 133.7 $ 73.1 $ 61.8\n(1) Includes $9.1 million of cash and cash equivalents classified as held for sale as of December 29, 2023.\nSee accompanying Notes to the Consolidated Financial Statements.\n48\nTable of Contents\nIndex to Financial Statements\nNOTES TO CONSOLIDATED FINANCIAL STATEMEN",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_company_type",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the fiscal year ended December 29, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-14845\nTRIMBLE INC.\n(Exact name of Registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n94-2802192\n(I.R.S. Employer Identification Number)\n10368 Westmoor Drive, Westminster, CO 80021\n(Address of principal executive offices) (Zip Code)\n(720) 887-6100\n(Registrant’s telephone number, including area code)\nTitle of each class Common Stock, $0.001 par value Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nTRMB NASDAQ Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act: NONE\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.\nYes ☒ No ☐\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),\nand (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_key_financials",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Total revenue 3798.7m, gross margin 2332.8m, operating income: 448.8m, diluted EPS 1.25",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2023 2022 Dollar Change % Change\n(In millions, except per share amounts)\nRevenue:\nProduct $ 1,771.7 $ 1,986.1 $ (214.4) (11)%\nSubscription and services 2,027.0 1,690.2 336.8 20%\nTotal revenue $ 3,798.7 $ 3,676.3 $ 122.4 3%\nGross margin $ 2,332.8 $ 2,105.6 $ 227.2 11%\nGross margin as a % of revenue 61.4 % 57.3 %\nOperating income $ 448.8 $ 510.9 $ (62.1) (12)%\nOperating income as a % of revenue 11.8 % 13.9 %\nDiluted earnings per share $ 1.25 $ 1.80 $ (0.55) (31)%\nNon-GAAP operating income (1) $ 934.7 $ 841.5 $ 93.2 11%\nNon-GAAP operating income as a % of revenue(1) 24.6 % 22.9 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.64 $ 0.02 1%\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,982.3 $ 1,603.7 $ 378.6 24%\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2023 was December 29, 2023. Both\n2023 and 2022 were 52–week years. 2024 will be a 53-week year.\nYear 2023 Compared with Year 2022\nRevenue\n2023\nChange versus 2022 % Change\nProduct Subscription and\nServices Total Revenue\nChange in Revenue (11) % 20 % 3 %\nAcquisitions — % 9 % 4 %\nDivestitures (3) % (2) % (2) %\nOrganic growth (8) % 13 % 1 %\nOrganic total revenue was up 1%. Organic subscription and services revenue was up primarily due to strong growth in\nsubscription and software term licenses in Buildings and Infrastructure, and to a lesser extent, positioning services in Resources\nand Utilities, and enterprise and MAPS in Transportation. Organic product revenue decreased due to reductions in dealer\ninventory levels as a result of improved product lead times and reduced end user demand. These decreases impacted sales in\nBuildings and Infrastructure, Geospatial, and Resources and Utilities.\nGross Margin\nGross margin and gross margin as a percentage of revenue increased due to an increased mix of higher margin software and\nsubscription sales including organic growth and the Transporeon acquisition, and declines in hardware sales, as well as lower\nsupply chain costs.\nOperating Income\nOperating income decreased slightly primarily due to increased operating expense, partially offset by revenue and gross margin\nexpansion. Operating expense increased due to the Transporeon acquisition, higher research and development, and general and\nadministrative costs, includ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_revenue",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "total revenue 3798.7m",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2023 2022 Dollar Change % Change\n(In millions, except per share amounts)\nRevenue:\nProduct $ 1,771.7 $ 1,986.1 $ (214.4) (11)%\nSubscription and services 2,027.0 1,690.2 336.8 20%\nTotal revenue $ 3,798.7 $ 3,676.3 $ 122.4 3%\nGross margin $ 2,332.8 $ 2,105.6 $ 227.2 11%\nGross margin as a % of revenue 61.4 % 57.3 %\nOperating income $ 448.8 $ 510.9 $ (62.1) (12)%\nOperating income as a % of revenue 11.8 % 13.9 %\nDiluted earnings per share $ 1.25 $ 1.80 $ (0.55) (31)%\nNon-GAAP operating income (1) $ 934.7 $ 841.5 $ 93.2 11%\nNon-GAAP operating income as a % of revenue(1) 24.6 % 22.9 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.64 $ 0.02 1%\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,982.3 $ 1,603.7 $ 378.6 24%\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2023 was December 29, 2023. Both\n2023 and 2022 were 52–week years. 2024 will be a 53-week year.\nYear 2023 Compared with Year 2022\nRevenue\n2023\nChange versus 2022 % Change\nProduct Subscription and\nServices Total Revenue\nChange in Revenue (11) % 20 % 3 %\nAcquisitions — % 9 % 4 %\nDivestitures (3) % (2) % (2) %\nOrganic growth (8) % 13 % 1 %\nOrganic total revenue was up 1%. Organic subscription and services revenue was up primarily due to strong growth in\nsubscription and software term licenses in Buildings and Infrastructure, and to a lesser extent, positioning services in Resources\nand Utilities, and enterprise and MAPS in Transportation. Organic product revenue decreased due to reductions in dealer\ninventory levels as a result of improved product lead times and reduced end user demand. These decreases impacted sales in\nBuildings and Infrastructure, Geospatial, and Resources and Utilities.\nGross Margin\nGross margin and gross margin as a percentage of revenue increased due to an increased mix of higher margin software and\nsubscription sales including organic growth and the Transporeon acquisition, and declines in hardware sales, as well as lower\nsupply chain costs.\nOperating Income\nOperating income decreased slightly primarily due to increased operating expense, partially offset by revenue and gross margin\nexpansion. Operating expense increased due to the Transporeon acquisition, higher research and development, and general and\nadministrative costs, includ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_revenue_growth",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "total revenue 3798.7m, prior year 3676.3m",
      "golden_context": "Page 38:\n\nRESULTS OF OPERATIONS\nOverview\nThe following table shows revenue by category, gross margin and gross margin as a percentage of revenue, operating income\nand operating income as a percentage of revenue, diluted earnings per share, and annualized recurring revenue compared for the\nperiods indicated:\n2023 2022 Dollar Change % Change\n(In millions, except per share amounts)\nRevenue:\nProduct $ 1,771.7 $ 1,986.1 $ (214.4) (11)%\nSubscription and services 2,027.0 1,690.2 336.8 20%\nTotal revenue $ 3,798.7 $ 3,676.3 $ 122.4 3%\nGross margin $ 2,332.8 $ 2,105.6 $ 227.2 11%\nGross margin as a % of revenue 61.4 % 57.3 %\nOperating income $ 448.8 $ 510.9 $ (62.1) (12)%\nOperating income as a % of revenue 11.8 % 13.9 %\nDiluted earnings per share $ 1.25 $ 1.80 $ (0.55) (31)%\nNon-GAAP operating income (1) $ 934.7 $ 841.5 $ 93.2 11%\nNon-GAAP operating income as a % of revenue(1) 24.6 % 22.9 %\nNon-GAAP diluted earnings per share (1) $ 2.66 $ 2.64 $ 0.02 1%\nAnnualized Recurring Revenue (“ARR”) (1) $ 1,982.3 $ 1,603.7 $ 378.6 24%\n(1) Refer to “Supplemental Disclosure of Non-GAAP Financial Measures and Annualized Recurring Revenue” of this report for definitions.\nBasis of Presentation\nWe use a 52–53 week fiscal year ending on the Friday nearest to December 31, which for 2023 was December 29, 2023. Both\n2023 and 2022 were 52–week years. 2024 will be a 53-week year.\nYear 2023 Compared with Year 2022\nRevenue\n2023\nChange versus 2022 % Change\nProduct Subscription and\nServices Total Revenue\nChange in Revenue (11) % 20 % 3 %\nAcquisitions — % 9 % 4 %\nDivestitures (3) % (2) % (2) %\nOrganic growth (8) % 13 % 1 %\nOrganic total revenue was up 1%. Organic subscription and services revenue was up primarily due to strong growth in\nsubscription and software term licenses in Buildings and Infrastructure, and to a lesser extent, positioning services in Resources\nand Utilities, and enterprise and MAPS in Transportation. Organic product revenue decreased due to reductions in dealer\ninventory levels as a result of improved product lead times and reduced end user demand. These decreases impacted sales in\nBuildings and Infrastructure, Geospatial, and Resources and Utilities.\nGross Margin\nGross margin and gross margin as a percentage of revenue increased due to an increased mix of higher margin software and\nsubscription sales including organic growth and the Transporeon acquisition, and declines in hardware sales, as well as lower\nsupply chain costs.\nOperating Income\nOperating income decreased slightly primarily due to increased operating expense, partially offset by revenue and gross margin\nexpansion. Operating expense increased due to the Transporeon acquisition, higher research and development, and general and\nadministrative costs, includ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000355_segments",
      "report_id": "ID_000355",
      "company_name": "Trimble",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation",
      "golden_context": "Page 9:\n\nompanies through our venture fund and through strategic formation of joint ventures. In September 2023, we\nsigned a definitive agreement to contribute our Trimble precision agriculture (“Trimble Ag”) business, excluding certain\nGlobal Navigation Satellite System (“GNSS”) and guidance technologies, to a JV with AGCO, of which we will retain a\n15% ownership stake. Trimble and AGCO’s shared vision is to create a global leader in mixed fleet smart farming and\nautonomy solutions that delivers on our collective strategy to better serve farmers with factory fit and aftermarket\napplications in the mixed fleet precision agriculture market. The proposed transaction is expected to close in the first\nhalf of 2024.\n• Sustainability. The global economy is experiencing a fundamental shift toward sustainability driven through broad\nstakeholder engagement, with a focus on decarbonization. Historically, through delivering productivity and efficiency\ngains, Trimble products have delivered sustainability for our customers, and we envision more opportunities to deliver\nexpanded carbon reductions and other sustainability benefits, such as water management in agriculture and utilities.\nOur focus on these growth drivers has led over time to growth in revenue and profitability and an increasingly diversified\nbusiness model. As our solutions have expanded, our go-to-market model has also evolved, with a balanced mix between\ndirect, distribution, and OEM customers, as well as an increasing number of enterprise-level customer relationships.\nBusiness Segments and Markets\nOur segments are distinguished by the markets they serve. Each segment consists of businesses that are responsible for product\ndevelopment, marketing, sales, strategy, and financial performance. We report our financial performance, including revenue\nand operating income, based on four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and\nTransportation. For further financial information about our segments, see Note 7 “Reporting Segment and Geographic\nInformation” of this report.\nBuildings and Infrastructure\nThe Buildings and Infrastructure segment primarily serves customers working in architecture, engineering, construction, design,\nasset management, operations, and maintenance. Within this segment, our most substantial product portfolios are focused on\nbuilding and civil engineering construction, design, capital planning, and asset management.\nBuilding Construction. Our building construction portfolio of solutions for the residential, commercial, and industrial building\nindustry spans the entire lifecycle of a building and is used by construction owners, architects, designers, general contractors,\nsub-contractors, and engineers. These solutions serve to improve productivity and to enhance data sharing and collaboration\nacross different teams and stakeholders to help keep projects within cost, time, and quality targets. The suite of technologies\nand solutions we provide to the building industry includes program management solutions for construction owners including\nsoftware for 3D conceptual design and modeling; BIM software that is used in design, engineering, and construction; enterprise\nresource planning, project management, and project collaboration for general contractors; and advanced integrated site layout\nand measurement systems, cost estimating, scheduling, and project controls solutions for contractors. The suite also includes\napplications for sub-contractors and construction trades such as steel, concrete, and Mechanical, Electrical and Plumbing\n(“MEP”); project coordination; and capital program planning and management. In addition, our Trimble Connect collaboration\nplatform streamlines customer workflows and enables interoperability between Trimble’s and other providers’ solutions. These\nsolutions for the building industry serve to automate, streamline, and transform work processes across the building construction\nindustry. Our solutions provide customer benefits such as reduced costs, reduced waste and re-work, increased worker safety\nand efficiencies, faster project completion times, improved information flow, better decision making, enhanced quality control,\nand multiple sustainability benefits for our customers.\nDuring 2023, we announced a number of new developments including: (i) new versions of our Tekla Structure software for\nimproved user experience such as extended collaboration with BIM model data; (ii) new AI features in Sketchup such as AI-\npowered image search capabilities to access 3D models on 3D Warehouse, as well as generative AI utilizing text prompts to\nconvert a SketchUp 3D model to a rendered image in seconds with SketchUp Diffusion; (iii) new MEP products including\nFabrication Smart Tools for use with native Autodesk users; and (iv) AI ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_cash_flow",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2183987k, investing: -2989146k, financing: 5831k",
      "golden_context": "Page 95:\n\nW. R. BERKLEY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n(In thousands) 2021 2020 2019\nCASH FROM OPERATING ACTIVITIES:\nNet income to common stockholders $ 1,022,490 $ 530,670 $ 681,944\nAdjustments to reconcile net income to net cash from operating activities:\nNet investment gains (90,632) (103,000) (120,703)\nDepreciation and amortization 129,682 135,065 113,387\nNoncontrolling interests 8,525 2,315 2,041\nInvestment funds (220,015) (54,253) (69,194)\nStock incentive plans 46,680 49,658 49,274\nChange in:\nArbitrage trading account (268,649) (67,943) (26,553)\nPremiums and fees receivable (364,395) (173,618) (189,151)\nReinsurance accounts (433,644) (313,525) (165,898)\nDeferred policy acquisition costs (121,663) (38,691) (20,057)\nCurrent income taxes (43,890) 49,021 (12,530)\nDeferred income taxes 7,630 (34,057) 7,130\nReserves for losses and loss expenses 1,635,774 1,176,049 612,254\nUnearned premiums 786,627 415,956 301,355\nOther 89,467 43,039 (19,506)\nNet cash from operating activities 2,183,987 1,616,686 1,143,793\nCASH FLOWS (USED IN) FROM INVESTING ACTIVITIES:\nProceeds from sale of fixed maturity securities 1,842,139 3,832,555 2,093,271\nProceeds from sale of equity securities 126,980 114,763 79,963\nDistributions from (contributions to) investment funds 101,050 (3,042) 194,663\nProceeds from maturities and prepayments of fixed maturity securities 6,067,230 3,864,327 2,933,980\nPurchase of fixed maturity securities (10,716,748) (7,551,591) (5,352,886)\nPurchase of equity securities (464,645) (253,031) (172,978)\nReal estate sold (purchased) Change in loans receivable Net additions to property, furniture and equipment (66,634) (38,171) (60,457)\nChange in balances due from security brokers Net cash (used in) from investing activities (2,989,146) 119,696 (424,871)\nCASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:\nNet proceeds from issuance of debt Repayment and redemption of debt (27,421) (17,983) 1,034,107 (355,736) (122,426) 178,934 1,467 (26,515) 741,637 (84,147) 3,481\n2,844\n290,974\n(308,191)\n(18,225)\n(504,952) (652,751) (456,360)\nCash dividends to common stockholders Purchase of common treasury shares 166,886 (146,752)\n(346,357) Other, net Net cash from (used in) financing activities 5,831 (397,843) (513,193)\nNet impact on cash due to change in foreign exchange rates Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of year (45,162) (4,195) 2,372,366 (56,225) 10,117 1,023,710 (21,391)\n379\n817,602\n(803,523) 1,348,656 206,108\nCash and cash equivalents at end of year $ 1,568,843 $ 2,372,366 $ 1,023,710\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_company_type",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 29:\n\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the transition period from ______ to ______.\nCommission file number 1-15202\nW. R. BERKLEY CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 22-1867895\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n475 Steamboat Road Greenwich, CT 06830\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (203) 629-3000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.20 per share 5.700% Subordinated Debentures due 2058 5.100% Subordinated Debentures due 2059 4.250% Subordinated Debentures due 2060 4.125% Subordinated Debentures due 2061 WRB WRB-PE WRB-PF WRB-PG WRB-PH Securities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_key_financials",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Total revenues 9.5bn, investments (market value): 22.2bn, gross premiums written: 10.7bn",
      "golden_context": "Page 7:\n\neveral years have begun to achieve\nscale and contribute to the profitability of\nour enterprise. As we build new businesses,\nit takes several years for each of them to\nachieve profitability. We are pleased that the\nhardening market has helped accelerate that\npace. We are optimistic that 2022 will continue\nto show improvement in all of our recent\nstart-ups. Our business strategy has focused\non starting new enterprises rather than buying\nother people’s business. We recognize this\nslower process has a cost of delayed returns,\nbut the benefit in return makes it worthwhile.\nWe continue to believe this is the best\nstrategy for us.\nInvestments are a key element in determining\nthe profitability of an insurance company\n$7.7\nand 2021 was a good year for our Company.\n$7.7\nDuring this period of low interest rates, we\ntook steps to lower our risk by shortening the\n$7.9\nduration of our portfolio and maintaining the\n$8.1\nquality at AA-. We took these actions because\nwe were concerned about inflation and the\n$9.5\nconcomitant risks that it brought to the asset\nside of our balance sheet. This decision\nreduced investment income in the short\nterm, but we were convinced the decision\nwould be the appropriate one.\n$11.7\nOur insurance business generated approximately\n$2.2 billion of operating cash flow that\n$12.0\nwe needed to invest. We invested in real estate\n$12.6\nand investment funds, while improving liquidity\nwith an increasingly cash-like portfolio given\n$13.8\nour expectation of an inflationary period. We\n$15.4\nhad substantial realized gains from the sale\nof properties in our real estate portfolio in\nFlorida and New York, since we felt this was a\ngood opportunity to take advantage of the\ncurrent market. All of our private equity funds\nTO OUR SHAREHOLDERS\nTotal Revenues\n(dollars in billions)\n2017\n2018\n2019\n2020\n2021\n$7.7\n$7.7\n$7.9\n$8.1\n$9.5\nInvestments\n2017\nMarket Value (dollars in billions)\n2018\n2017\n2019\n2018\n2020\n2019\n2021\n2020\n2021\n$11.7\n$12.0\n$17.5\n$12.6\n$17.7\n$13.8\n$18.5\n$18.5\n$15.4\n$22.2\nRECORD GROSS AND NET\nPREMIUMS WRITTEN\n2017\n$5.5\n2018\n2019\n$10.7B\n$5.5\n$6.1\n2020\n$6.3\n2021\n& $8.9B",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_revenue",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total revenues: 9.5bn",
      "golden_context": "Page 7:\n\neveral years have begun to achieve\nscale and contribute to the profitability of\nour enterprise. As we build new businesses,\nit takes several years for each of them to\nachieve profitability. We are pleased that the\nhardening market has helped accelerate that\npace. We are optimistic that 2022 will continue\nto show improvement in all of our recent\nstart-ups. Our business strategy has focused\non starting new enterprises rather than buying\nother people’s business. We recognize this\nslower process has a cost of delayed returns,\nbut the benefit in return makes it worthwhile.\nWe continue to believe this is the best\nstrategy for us.\nInvestments are a key element in determining\nthe profitability of an insurance company\n$7.7\nand 2021 was a good year for our Company.\n$7.7\nDuring this period of low interest rates, we\ntook steps to lower our risk by shortening the\n$7.9\nduration of our portfolio and maintaining the\n$8.1\nquality at AA-. We took these actions because\nwe were concerned about inflation and the\n$9.5\nconcomitant risks that it brought to the asset\nside of our balance sheet. This decision\nreduced investment income in the short\nterm, but we were convinced the decision\nwould be the appropriate one.\n$11.7\nOur insurance business generated approximately\n$2.2 billion of operating cash flow that\n$12.0\nwe needed to invest. We invested in real estate\n$12.6\nand investment funds, while improving liquidity\nwith an increasingly cash-like portfolio given\n$13.8\nour expectation of an inflationary period. We\n$15.4\nhad substantial realized gains from the sale\nof properties in our real estate portfolio in\nFlorida and New York, since we felt this was a\ngood opportunity to take advantage of the\ncurrent market. All of our private equity funds\nTO OUR SHAREHOLDERS\nTotal Revenues\n(dollars in billions)\n2017\n2018\n2019\n2020\n2021\n$7.7\n$7.7\n$7.9\n$8.1\n$9.5\nInvestments\n2017\nMarket Value (dollars in billions)\n2018\n2017\n2019\n2018\n2020\n2019\n2021\n2020\n2021\n$11.7\n$12.0\n$17.5\n$12.6\n$17.7\n$13.8\n$18.5\n$18.5\n$15.4\n$22.2\nRECORD GROSS AND NET\nPREMIUMS WRITTEN\n2017\n$5.5\n2018\n2019\n$10.7B\n$5.5\n$6.1\n2020\n$6.3\n2021\n& $8.9B",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_revenue_growth",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total revenues: 9.5bn, prior year 8.1bn",
      "golden_context": "Page 7:\n\neveral years have begun to achieve\nscale and contribute to the profitability of\nour enterprise. As we build new businesses,\nit takes several years for each of them to\nachieve profitability. We are pleased that the\nhardening market has helped accelerate that\npace. We are optimistic that 2022 will continue\nto show improvement in all of our recent\nstart-ups. Our business strategy has focused\non starting new enterprises rather than buying\nother people’s business. We recognize this\nslower process has a cost of delayed returns,\nbut the benefit in return makes it worthwhile.\nWe continue to believe this is the best\nstrategy for us.\nInvestments are a key element in determining\nthe profitability of an insurance company\n$7.7\nand 2021 was a good year for our Company.\n$7.7\nDuring this period of low interest rates, we\ntook steps to lower our risk by shortening the\n$7.9\nduration of our portfolio and maintaining the\n$8.1\nquality at AA-. We took these actions because\nwe were concerned about inflation and the\n$9.5\nconcomitant risks that it brought to the asset\nside of our balance sheet. This decision\nreduced investment income in the short\nterm, but we were convinced the decision\nwould be the appropriate one.\n$11.7\nOur insurance business generated approximately\n$2.2 billion of operating cash flow that\n$12.0\nwe needed to invest. We invested in real estate\n$12.6\nand investment funds, while improving liquidity\nwith an increasingly cash-like portfolio given\n$13.8\nour expectation of an inflationary period. We\n$15.4\nhad substantial realized gains from the sale\nof properties in our real estate portfolio in\nFlorida and New York, since we felt this was a\ngood opportunity to take advantage of the\ncurrent market. All of our private equity funds\nTO OUR SHAREHOLDERS\nTotal Revenues\n(dollars in billions)\n2017\n2018\n2019\n2020\n2021\n$7.7\n$7.7\n$7.9\n$8.1\n$9.5\nInvestments\n2017\nMarket Value (dollars in billions)\n2018\n2017\n2019\n2018\n2020\n2019\n2021\n2020\n2021\n$11.7\n$12.0\n$17.5\n$12.6\n$17.7\n$13.8\n$18.5\n$18.5\n$15.4\n$22.2\nRECORD GROSS AND NET\nPREMIUMS WRITTEN\n2017\n$5.5\n2018\n2019\n$10.7B\n$5.5\n$6.1\n2020\n$6.3\n2021\n& $8.9B",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000356_segments",
      "report_id": "ID_000356",
      "company_name": "WR Berkley",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Insurance and Reinsurance & Monoline Excess",
      "golden_context": "Page 34:\n\nART I\nITEM 1. BUSINESS\nW. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in\ntwo segments of the property casualty insurance business:\n• Insurance - predominantly commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines throughout the\nUnited States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and\nAustralia.\n• Reinsurance & Monoline Excess - reinsurance business on a facultative and treaty basis, primarily in the United States, the United Kingdom, Continental\nEurope, Australia, the Asia-Pacific region and South Africa, as well as operations that solely retain risk on an excess basis.\nOur two reporting segments are each composed of individual businesses that serve a market defined by geography, products, services or industry served. Each of\nour businesses is positioned close to its customer base and participates in a niche market requiring specialized knowledge. This strategy of decentralized operations\nallows each of our businesses to identify and respond quickly and effectively to changing market conditions and specific customer needs, while capitalizing on the\nbenefits of centralized capital, investment and reinsurance management, and corporate actuarial, financial, enterprise risk management and legal staff support.\nOur business approach is focused on meeting the needs of our customers, maintaining a high quality balance sheet, and allocating capital to our best\nopportunities. New businesses are started when opportunities are identified and when the right talent and expertise are found to lead a business. Of our 56\nbusinesses, 49 have been organized and developed internally and seven have been added through acquisition.\nNet premiums written, as reported based on United States generally accepted accounting principles (“GAAP”), for each of our reporting segments for each of the\npast three years were as follows:\nYear Ended December 31,\n(In thousands) 2021 2020 2019\nInsurance $ 7,743,814 $ 6,347,101 $ 6,086,009\nNet premiums written:\n1,119,053 915,336 777,490\nReinsurance & Monoline Excess Total $ 8,862,867 $ 7,262,437 $ 6,863,499\nPercentage of net premiums written:\nInsurance 87.4 % 87.4 % 88.7 %\nReinsurance & Monoline Excess 12.6 Total 100.0 % 100.0 % 100.0 %\n12.6 11.3\nThirty of our insurance company subsidiaries are rated by A.M. Best Company, Inc. (\"A.M. Best\") and have financial strength ratings of A+ (Superior) (the\nsecond highest rating out of 15 possible ratings). A.M. Best's ratings are based upon factors of concern to policyholders, insurance agents and brokers and are not\ndirected toward the protection of investors. A.M. Best states: “A Best's Financial Strength Rating (FSR) is an independent opinion of an insurer's financial strength\nand ability to meet its ongoing insurance policy and contract obligations. An FSR is not assigned to specific insurance policies or contracts and does not address\nany other risk.” A.M. Best reviews its ratings on a periodic basis, and its ratings of the Company's subsidiaries are therefore subject to change.\nOur twenty-four insurance co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_cash_flow",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -120302k, investing: 319730k, financing: -779943k",
      "golden_context": "Page 161:\n\n R. Berkley Corporation\nCondensed Financial Information of Registrant, Continued\nStatements of Cash Flows (Parent Company)\nYear Ended December 31,\n(In thousands) 2022 2021 2020\nCash flow (used in) from operating activities:\nNet income $ 1,381,062 $ 1,022,490 $ 530,670\nAdjustments to reconcile net income to net cash from operating activities:\nNet investment gains Depreciation and amortization Equity in undistributed earnings of subsidiaries Tax payments received from subsidiaries Federal income taxes provided by subsidiaries on a separate return basis Stock incentive plans (1,007) (1,474) (3,580)\n4,281 18,761 15,133\n(1,511,478) (763,367) (135,535)\n321,682 328,851 165,495\n(414,660) (294,731) (188,489)\n49,411 48,440 49,599\nChange in:\nFederal income taxes (40,746) (22,017) 32,069\nOther assets 3,163 (33,319) 1,220\nOther liabilities 87,100 (11,758) 3,964\nAccrued investment income 890 755 836\nNet cash (used in) from operating activities (120,302) 292,631 471,382\nCash from (used in) investing activities:\nProceeds from sales of fixed maturity securities 543,549 402,046 414,802\nProceeds from maturities and prepayments of fixed maturity securities 83,134 654,134 258,413\nCost of purchases of fixed maturity securities (109,289) (1,071,823) (747,713)\nChange in loans receivable (16,249) (18,227) (20,023)\nInvestments in and advances to subsidiaries, net (171,062) (1,411) (100,704)\nChange in balance due to security broker (10,289) 10,487 (245)\nNet additions to real estate, furniture & equipment (432) (1,496) (81)\nOther, net 368 95 103\nNet cash from (used in) investing activities 319,730 (26,195) (195,448)\nCash (used in) from financing activities:\nNet proceeds from issuance of senior notes (914) 1,029,579 736,609\nRepayment and redemption of debt (426,503) (400,000) (650,000)\nPurchase of common treasury shares (94,140) (122,426) (346,357)\nCash dividends to common stockholders (235,192) (355,736) (84,147)\nOther, net (23,194) (30,776) (24,880)\nNet cash (used in) from financing activities (779,943) 120,641 (368,775)\nNet (decrease) increase in cash and cash equivalents (580,515) 387,077 (92,841)\nCash and cash equivalents at beginning of year 684,037 296,960 389,801\nCash and cash equivalents at end of year $ 103,522 $ 684,037 $ 296,960\n________________\nSee Report of Independent Registered Public Accounting Firm and note to condensed financial information.\n126",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_company_type",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 36:\n\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the transition period from\nto\n.\n______\n______\nCommission file number 1-15202\nW. R. BERKLEY CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 22-1867895\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)\n475 Steamboat Road Greenwich, CT 06830\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (203) 629-3000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.20 per share 5.700% Subordinated Debentures due 2058 5.100% Subordinated Debentures due 2059 4.250% Subordinated Debentures due 2060 4.125% Subordinated Debentures due 2061 WRB WRB-PE WRB-PF WRB-PG WRB-PH New York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for\nthe past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_key_financials",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 11.2bn, investments: 22.9bn, underwriting income: 1.0bn, net income: 1.4bn",
      "golden_context": "Page 9:\n\nTO OUR\nSHAREHOLDERS\nTO TA L R E V E N U E S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$7.7\n$7.9\n$8.1\n$9.5\nI N V E ST M E N T S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$17.7\n$18.5\n$18.5\nR ECO R D\nU N D E RW R I T I N G I N CO M E\n$1.0B\nR ECO R D N E T I N CO M E\n$1.4B\n7 W. R. Berkley Corporation\n$11.2\n$22.2\n$22.9\nThese outcomes are the result of the effort and\ncommitment of our team. They do not just happen.\nIt starts with us examining our view of the economy\nand the world. Social trends are an important\npart of this process as\nwell as financial trends.\n“\n_x0007_ These\noutcomes are\nthe result of\nthe effort and\ncommitment of\nour team. They\ndo not just\nhappen.”\nUnfortunately, historically,\nour industry has spent\nmost of its time looking\nbackward. By looking at\nfinancial statements, we\nare focused on the rearview\nmirror rather than looking\nout the front windshield\nand extrapolating into\nthe future. While we pay\nattention to the past, each of our businesses and\neveryone at the holding company is looking forward\nin assessing the accuracy of our past prognostications,\nall in order to better understand, anticipate, and plan\nfor the future. The cornerstone of our structure is\nthat each of our businesses does this from its own\nunique perspective. As the industry has become\nless uniform in its cyclicality and has become more\nstatistically driven by line of business, the benefits\nof the expertise in our decentralized model have\nbecome even more important.\nWe do not only examine our business by line. We also\nlook at how all the various external factors interact\nwith that specific line of business in each industry\nor specialty niche that we serve. Accordingly, we\ncarefully note how trends interact with each line of\nbusiness’s prior reserves in order to be sure that what\nwe see in the rearview mirror is an accurate portrayal\nof what was actually happening.\nWe take this data, our knowledge and experience,\nand begin to build our strategic plan. We always\nstart with our risk-adjusted return goal of 15%. This\ntarget is what we think is an appropriate return to our\nshareholders. It is made up of underwriting profits,\ninvestment income, and investmen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_revenue",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "11.2bn",
      "golden_context": "Page 9:\n\nTO OUR\nSHAREHOLDERS\nTO TA L R E V E N U E S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$7.7\n$7.9\n$8.1\n$9.5\nI N V E ST M E N T S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$17.7\n$18.5\n$18.5\nR ECO R D\nU N D E RW R I T I N G I N CO M E\n$1.0B\nR ECO R D N E T I N CO M E\n$1.4B\n7 W. R. Berkley Corporation\n$11.2\n$22.2\n$22.9\nThese outcomes are the result of the effort and\ncommitment of our team. They do not just happen.\nIt starts with us examining our view of the economy\nand the world. Social trends are an important\npart of this process as\nwell as financial trends.\n“\n_x0007_ These\noutcomes are\nthe result of\nthe effort and\ncommitment of\nour team. They\ndo not just\nhappen.”\nUnfortunately, historically,\nour industry has spent\nmost of its time looking\nbackward. By looking at\nfinancial statements, we\nare focused on the rearview\nmirror rather than looking\nout the front windshield\nand extrapolating into\nthe future. While we pay\nattention to the past, each of our businesses and\neveryone at the holding company is looking forward\nin assessing the accuracy of our past prognostications,\nall in order to better understand, anticipate, and plan\nfor the future. The cornerstone of our structure is\nthat each of our businesses does this from its own\nunique perspective. As the industry has become\nless uniform in its cyclicality and has become more\nstatistically driven by line of business, the benefits\nof the expertise in our decentralized model have\nbecome even more important.\nWe do not only examine our business by line. We also\nlook at how all the various external factors interact\nwith that specific line of business in each industry\nor specialty niche that we serve. Accordingly, we\ncarefully note how trends interact with each line of\nbusiness’s prior reserves in order to be sure that what\nwe see in the rearview mirror is an accurate portrayal\nof what was actually happening.\nWe take this data, our knowledge and experience,\nand begin to build our strategic plan. We always\nstart with our risk-adjusted return goal of 15%. This\ntarget is what we think is an appropriate return to our\nshareholders. It is made up of underwriting profits,\ninvestment income, and investmen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_revenue_growth",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "11.2bn, prior year 9.5bn",
      "golden_context": "Page 9:\n\nTO OUR\nSHAREHOLDERS\nTO TA L R E V E N U E S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$7.7\n$7.9\n$8.1\n$9.5\nI N V E ST M E N T S\n(dollars in billions)\n2 0 1 8\n2 0 1 9\n2 0 2 0\n2 0 2 1\n2 0 2 2\n$17.7\n$18.5\n$18.5\nR ECO R D\nU N D E RW R I T I N G I N CO M E\n$1.0B\nR ECO R D N E T I N CO M E\n$1.4B\n7 W. R. Berkley Corporation\n$11.2\n$22.2\n$22.9\nThese outcomes are the result of the effort and\ncommitment of our team. They do not just happen.\nIt starts with us examining our view of the economy\nand the world. Social trends are an important\npart of this process as\nwell as financial trends.\n“\n_x0007_ These\noutcomes are\nthe result of\nthe effort and\ncommitment of\nour team. They\ndo not just\nhappen.”\nUnfortunately, historically,\nour industry has spent\nmost of its time looking\nbackward. By looking at\nfinancial statements, we\nare focused on the rearview\nmirror rather than looking\nout the front windshield\nand extrapolating into\nthe future. While we pay\nattention to the past, each of our businesses and\neveryone at the holding company is looking forward\nin assessing the accuracy of our past prognostications,\nall in order to better understand, anticipate, and plan\nfor the future. The cornerstone of our structure is\nthat each of our businesses does this from its own\nunique perspective. As the industry has become\nless uniform in its cyclicality and has become more\nstatistically driven by line of business, the benefits\nof the expertise in our decentralized model have\nbecome even more important.\nWe do not only examine our business by line. We also\nlook at how all the various external factors interact\nwith that specific line of business in each industry\nor specialty niche that we serve. Accordingly, we\ncarefully note how trends interact with each line of\nbusiness’s prior reserves in order to be sure that what\nwe see in the rearview mirror is an accurate portrayal\nof what was actually happening.\nWe take this data, our knowledge and experience,\nand begin to build our strategic plan. We always\nstart with our risk-adjusted return goal of 15%. This\ntarget is what we think is an appropriate return to our\nshareholders. It is made up of underwriting profits,\ninvestment income, and investmen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000357_segments",
      "report_id": "ID_000357",
      "company_name": "WR Berkley",
      "year": 2022,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Insurance and Reinsurance & Monoline Excess",
      "golden_context": "Page 41:\n\nPART I\nITEM 1. BUSINESS\nW. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide\nin two segments of the property casualty insurance business:\n• Insurance - Our Insurance business underwrite predominantly commercial insurance business, including excess and surplus lines, admitted lines and\nspecialty personal lines throughout the United States, as well as insurance business in Asia, Australia, Canada, Continental Europe, Mexico,\nScandinavia, South America and the United Kingdom.\n• Reinsurance & Monoline Excess - Our Reinsurance businesses provide facultative and treaty reinsurance in the United States, as well as in the Asia\nPacific region, Australia, Continental Europe, South Africa and the United Kingdom. Monoline Excess businesses retain risk solely on an excess basis.\nOur two reporting segments are each composed of individual businesses that serve a market defined by geography, products, services or industry served.\nEach of our businesses is positioned close to its customer base and participates in a niche market requiring specialized knowledge. This strategy of\ndecentralized operations allows each of our businesses to identify and respond quickly and effectively to changing market conditions and specific customer\nneeds, while capitalizing on the benefits of centralized capital, investment and reinsurance management, and corporate actuarial, financial, enterprise risk\nmanagement and legal staff support.\nOur business approach is focused on meeting the needs of our customers, maintaining a high quality balance sheet, and allocating capital to our best\nopportunities. New businesses are started when opportunities are identified and when the right talent and expertise are found to lead a business. Of our 59\nbusinesses, 52 have been organized and developed internally and seven have been added through acquisition.\nNet premiums written, as reported based on United States generally accepted accounting principles (“GAAP”), for each of our reporting segments for each\nof the past three years were as follows:\nYear Ended December 31,\n(In thousands) 2022 2021 2020\nNet premiums written:\nInsurance $ 8,784,146 $ 7,743,814 $ 6,347,101\nReinsurance & Monoline Excess 1,219,924 1,119,053 915,336\nTotal $ 10,004,070 $ 8,862,867 $ 7,262,437\nPercentage of net premiums written:\nInsurance 87.8 % 87.4 % 87.4 %\nReinsurance & Monoline Excess 12.2 12.6 12.6\nTotal 100.0 % 100.0 % 100.0 %\nThirty-two of our insurance company subsidiaries are rated by A.M. Best Company, Inc. (\"A.M. Best\") and have financial strength ratings of A+\n(Superior) (the second highest rating out of 15 possible ratings). A.M. Best's ratings are based upon factors of concern to policyholders, insurance agents and\nbrokers and are not directed toward the protection of investors. A.M. Best states: “A Best's Financial Strength Rating (FSR) is an independent opinion of an\ninsurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. An FSR is not assigned to specific insurance policies or\ncontracts and does not address any other risk.\n” A.M. Best reviews its ratings on a periodic basis, and its ratings of the Company's subsidiaries are therefore\nsubject to change.\nOur twenty-three insurance company subsidiaries rated by Standard & Poor's (“S&P”) have financial strength ratings of A+ (the seventh highest rating\nout of twenty-seven possible ratings).\nOur Moody's financial strength ratings are A1 for Berkley Insurance Company, Berkley Regional Insurance Company and Admiral Insurance Company\n(the fifth highest rating out of twenty-one possible ratings",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_cash_flow",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 2929238k, investing: -1'961'964k, financing: -1'062'495k",
      "golden_context": "Page 99:\n\nW. R. BERKLEY CORPORATION AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n(In thousands) 2023 2022 2021\nCASH FROM OPERATING ACTIVITIES:\nNet income to common stockholders $ 1,381,359 $ 1,381,062 $ 1,022,490\nAdjustments to reconcile net income to net cash from operating activities:\nNet investment gains (47,042) (202,397) (90,632)\nDepreciation and (accretion) amortization (20,861) 55,872 129,682\nNoncontrolling interests 2,487 3,892 8,525\nInvestment funds (16,743) (145,099) (220,015)\nStock incentive plans 51,000 49,411 46,680\nChange in:\nArbitrage trading account (54,213) (53,291) (268,649)\nPremiums and fees receivable (334,178) (268,171) (364,395)\nReinsurance accounts (306,017) (266,307) (433,644)\nDeferred policy acquisition costs (99,387) (88,844) (121,663)\nCurrent income taxes 52,451 (3,534) (43,890)\nDeferred income taxes (26,691) (64,712) 7,630\nReserves for losses and loss expenses 1,715,076 1,684,254 1,635,774\nUnearned premiums 617,535 466,590 786,627\nOther 14,462 19,878 89,467\nNet cash from operating activities 2,929,238 2,568,604 2,183,987\nCASH FLOWS USED IN INVESTING ACTIVITIES:\nProceeds from sale of fixed maturity securities 1,011,195 797,948 1,842,139\nProceeds from sale of equity securities 318,852 82,319 126,980\n(Contributions to) distributions from investment funds (19,904) 24,623 101,050\nProceeds from maturities and prepayments of fixed maturity securities 3,506,903 4,891,179 6,067,230\nPurchase of fixed maturity securities (6,664,763) (8,036,680) (10,716,748)\nPurchase of equity securities (80,454) (340,482) (464,645)\nReal estate (purchased) sold (2,074) (45,920) 166,886\nChange in loans receivable (29,719) (83,212) (27,421)\nNet additions to property, furniture and equipment (53,080) (52,684) (66,634)\nChange in balances due from security brokers (33,929) 14,337 (17,983)\nCash received in connection with business disposition 96,567 906,789 —\nPayment for business purchased, net of cash acquired (11,558) (49,572) —\nNet cash used in investing activities (1,961,964) (1,891,355) (2,989,146)\nCASH FLOWS (USED IN) FROM FINANCING ACTIVITIES:\nNet (payments) proceeds from issuance of debt (974) (3,309) 1,034,107\nRepayment of senior notes and other debt — (426,503) (504,952)\nCash dividends to common stockholders (501,456) (235,192) (355,736)\nPurchase of common treasury shares (537,163) (94,140) (122,426)\nOther, net (22,902) (12,848) (45,162)\nNet cash (used in) from financing activities (1,062,495) (771,992) 5,831\nNet impact on cash due to change in foreign exchange rates 9,070 (24,754) (4,195)\nNet decrease in cash and cash equivalents (86,151) (119,497) (803,523)\nCash and cash equivalents at beginning of year 1,449,346 1,568,843 2,372,366\nCash and cash equivalents at end of year $ 1,363,195 $ 1,449,346 $ 1,568,843\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_company_type",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 31:\n\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n(Mark One)\nOF 1934\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the transition period from ______ to ______.\nCommission file number 1-15202\nW. R. BERKLEY CORPORATION\n(Exact name of registrant as specified in its charter)\nDelaware 22-1867895\n(State or other jurisdiction of\n(I.R.S. Employer Identification Number)\nincorporation or organization)\n475 Steamboat Road Greenwich, CT 06830\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (203) 629-3000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $.20 per share WRB 5.700% Subordinated Debentures due 2058 WRB-PE 5.100% Subordinated Debentures due 2059 WRB-PF 4.250% Subordinated Debentures due 2060 WRB-PG 4.125% Subordinated Debentures due 2061 WRB-PH Securities registered pursuant to Section 12(g) of the Act:\nNone\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_key_financials",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Total revenues 12'142'938k, net premiums written 10'954'467k, net income per common share basic 5.1, return on equity 20.5%",
      "golden_context": "Page 6:\n\nSelected\nfinancial data\nIn thousands, except per share data\nYears ended December 31, 2 019 2 02 0 2 02 1 2 022 2 02 3\nTotal Revenues $7,902,200 $8,098,932 $9,455,486 $11,166,498 $ 12,142,938\nNet Premiums Written 6,863,499 7,262,437 8,862,867 10,004,070 10,954,467\nNet Investment Income 645,614 583,821 671,618 779,185 1,052,835\nNet Investment Gains 123,467 103,000 90,632 202,397 47,042\nInsurance Service Fees 92,680 88,777 93,857 110,544 106,485\nNet Income to Common Stockholders 681,944 530,670 1,022,490 1,381,062 1,381,359\nNet Income Per Common Share\nBasic $2.38 $1.89 $3.69 $4.99 $5.10\nDiluted 2.35 1.87 3.66 4.94 5.05\nReturn on Equity 12.5% 8.7% 16.2% 20.8% 20.5%\nAt Year End\nTotal Assets $26,643,428 $28,606,913 $32,086,414 $33,861,099 $37,202,015\nTotal Investments 18,473,674 18,481,767 22,171,814 22,859,646 25,279,504\nReserves for Losses and Loss Expenses 12,583,249 13,784,430 15,390,888 17,011,223 18,739,652\nCommon Stockholders’ Equity 6,074,939 6,310,802 6,653,011 6,748,332 7,455,431\nCommon Shares Outstanding 275,118 266,738 265,171 264,546 256,545\nCommon Stockholders’ Equity Per Share 22.08 23.66 25.09 25.51 29.06\nPer share data and common shares outstanding have been adjusted for the 3-for-2 common stock splits effected on April 2, 2019 and March 23, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_revenue",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "total revenues 12142938k",
      "golden_context": "Page 6:\n\nSelected\nfinancial data\nIn thousands, except per share data\nYears ended December 31, 2 019 2 02 0 2 02 1 2 022 2 02 3\nTotal Revenues $7,902,200 $8,098,932 $9,455,486 $11,166,498 $ 12,142,938\nNet Premiums Written 6,863,499 7,262,437 8,862,867 10,004,070 10,954,467\nNet Investment Income 645,614 583,821 671,618 779,185 1,052,835\nNet Investment Gains 123,467 103,000 90,632 202,397 47,042\nInsurance Service Fees 92,680 88,777 93,857 110,544 106,485\nNet Income to Common Stockholders 681,944 530,670 1,022,490 1,381,062 1,381,359\nNet Income Per Common Share\nBasic $2.38 $1.89 $3.69 $4.99 $5.10\nDiluted 2.35 1.87 3.66 4.94 5.05\nReturn on Equity 12.5% 8.7% 16.2% 20.8% 20.5%\nAt Year End\nTotal Assets $26,643,428 $28,606,913 $32,086,414 $33,861,099 $37,202,015\nTotal Investments 18,473,674 18,481,767 22,171,814 22,859,646 25,279,504\nReserves for Losses and Loss Expenses 12,583,249 13,784,430 15,390,888 17,011,223 18,739,652\nCommon Stockholders’ Equity 6,074,939 6,310,802 6,653,011 6,748,332 7,455,431\nCommon Shares Outstanding 275,118 266,738 265,171 264,546 256,545\nCommon Stockholders’ Equity Per Share 22.08 23.66 25.09 25.51 29.06\nPer share data and common shares outstanding have been adjusted for the 3-for-2 common stock splits effected on April 2, 2019 and March 23, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_revenue_growth",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "total revenues 12142938k, prior year 11'166'498k",
      "golden_context": "Page 6:\n\nSelected\nfinancial data\nIn thousands, except per share data\nYears ended December 31, 2 019 2 02 0 2 02 1 2 022 2 02 3\nTotal Revenues $7,902,200 $8,098,932 $9,455,486 $11,166,498 $ 12,142,938\nNet Premiums Written 6,863,499 7,262,437 8,862,867 10,004,070 10,954,467\nNet Investment Income 645,614 583,821 671,618 779,185 1,052,835\nNet Investment Gains 123,467 103,000 90,632 202,397 47,042\nInsurance Service Fees 92,680 88,777 93,857 110,544 106,485\nNet Income to Common Stockholders 681,944 530,670 1,022,490 1,381,062 1,381,359\nNet Income Per Common Share\nBasic $2.38 $1.89 $3.69 $4.99 $5.10\nDiluted 2.35 1.87 3.66 4.94 5.05\nReturn on Equity 12.5% 8.7% 16.2% 20.8% 20.5%\nAt Year End\nTotal Assets $26,643,428 $28,606,913 $32,086,414 $33,861,099 $37,202,015\nTotal Investments 18,473,674 18,481,767 22,171,814 22,859,646 25,279,504\nReserves for Losses and Loss Expenses 12,583,249 13,784,430 15,390,888 17,011,223 18,739,652\nCommon Stockholders’ Equity 6,074,939 6,310,802 6,653,011 6,748,332 7,455,431\nCommon Shares Outstanding 275,118 266,738 265,171 264,546 256,545\nCommon Stockholders’ Equity Per Share 22.08 23.66 25.09 25.51 29.06\nPer share data and common shares outstanding have been adjusted for the 3-for-2 common stock splits effected on April 2, 2019 and March 23, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000358_segments",
      "report_id": "ID_000358",
      "company_name": "WR Berkley",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Insurance and Reinsurance & Monoline Excess",
      "golden_context": "Page 37:\n\nPART I\nITEM 1. BUSINESS\nW. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the\nUnited States and operates worldwide in two segments of the property casualty insurance business:\n• Insurance - Our Insurance businesses underwrite predominantly commercial insurance business, including excess and\nsurplus lines, admitted lines and specialty personal lines throughout the United States, as well as insurance business in\nAsia, Australia, Canada, Continental Europe, Mexico, Scandinavia, South America and the United Kingdom.\n• Reinsurance & Monoline Excess - Our Reinsurance businesses provide facultative and treaty reinsurance in the United\nStates, as well as in the Asia Pacific region, Australia, Continental Europe, South Africa and the United Kingdom.\nMonoline Excess businesses retain risk solely on an excess basis.\nOur two reporting segments are each composed of individual businesses that serve a market defined by geography,\nproducts, services or industry served. Each of our businesses is positioned close to its customer base and participates in a niche\nmarket requiring specialized knowledge. This strategy of decentralized operations allows each of our businesses to identify and\nrespond quickly and effectively to changing market conditions and specific customer needs, while capitalizing on the benefits\nof centralized capital, investment and reinsurance management, and corporate actuarial, financial, enterprise risk management\nand legal staff support.\nOur business approach is focused on meeting the needs of our customers, maintaining a high quality balance sheet, and\nallocating capital to our best opportunities. New businesses are started when opportunities are identified and when the right\ntalent and expertise are found to lead a business. Of our 60 businesses, 53 have been organized and developed internally and\nseven have been added through acquisition.\nNet premiums written, as reported based on United States generally accepted accounting principles (“GAAP”), for\neach of our reporting segments for each of the past three years were as follows:\nYear Ended December 31,\n(In thousands) 2023 2022 2021\nNet premiums written:\nInsurance $ 9,657,121 $ 8,784,146 $ 7,743,814\nReinsurance & Monoline Excess 1,297,346 1,219,924 1,119,053\nTotal $ 10,954,467 $ 10,004,070 $ 8,862,867\nPercentage of net premiums written:\nInsurance 88.2 % 87.8 % 87.4 %\nReinsurance & Monoline Excess 11.8 12.2 12.6\nTotal 100.0 % 100.0 % 100.0 %\nThirty-two of our insurance company subsidiaries are rated by A.M. Best Company, Inc. (\"A.M. Best\") and have\nfinancial strength ratings of A+ (Superior) (the second highest rating out of 15 possible ratings). A.M. Best's ratings are based\nupon factors of concern to policyholders, insurance agents and brokers and are not directed toward the protection of investors.\nA.M. Best states: “A Best's Financial Strength Rating (FSR) is an independent opinion of an insurer's financial strength and\nability to meet its ongoing insurance policy and contract obligations. An FSR is not assigned to specific insurance policies or\ncontracts and does not address any other risk.” A.M. Best reviews its ratings on a periodic basis, and its ratings of the\nCompany's subsidiaries are therefore subject to change.\nOur twenty-three insurance company subsidiaries rated by Standard & Poor's (“S&P”) have financial strength ratings of\nA+ (the fifth highest rating out of twenty-seven possible ratings).\nOur Moody's financial strength ratings are A1 for Berkley Insurance Company, Berkley Regional Insurance Company\nand Admiral Insurance Company (the fifth highest rating out of twenty-one possible ratings).\nOur twenty-five insurance company subsidiaries rated by Fitch Ratings (\"Fitch\") have insurer financial strength ratings\nof AA- (the fourth highest rating out of twenty-seven possible ratings).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_cash_flow",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: 122'955k, investing: -58'016k, financing: -44'440k",
      "golden_context": "Page 63:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended June 30,\n2021 2020 2019\nOPERATING ACTIVITIES:\nNet income $ 111,865 $ 84,308 $ 71,918\nReconciliation of net income to net cash (used in) provided by operating activities:\nDepreciation and amortization 28,185 28,472 24,202\nStock-based compensation expense 28,549 20,189 21,184\n(Recoveries of) Allowance for doubtful accounts (820) (3,081) 7,058\nProvision for excess and obsolete inventories 6,805 18,373 32,946\nOther (1,044) 1,364 733\nImpairment of investments — — 2,661\nShare of (income) loss from equity investee (173) (2,402) 2,721\nForeign currency exchange loss (gain) 2,482 1,008 (313)\nDeferred income taxes, net (8,390) (13,772) (17,100)\nChanges in operating assets and liabilities:\nAccounts receivable, net (including changes in related party balances of $34, $4,727 and $(10,357)\nin fiscal years 2021, 2020 and 2019, respectively) (59,325) (7,023) 85,027\nInventories (196,271) (199,683) 119,314\nPrepaid expenses and other assets (including changes in related party balances of $(3,957), $1,511\nand $2,714 in fiscal years 2021, 2020 and 2019, respectively) Accounts payable (including changes in related party balances of $(2,272), $12,559 and $(18,001)\nin fiscal years 2021, 2020 and 2019, respectively) (5,291) (29,869) 8,410\n189,309 59,889 (173,410)\nIncome taxes payable 8,041 (8,321) 5,831\nAccrued liabilities (including changes in related party balances of $2,322, $5,670 and $(7,858) in\nfiscal years 2021, 2020 and 2019, respectively) 24,705 27,865 11,456\nDeferred revenue INVESTING ACTIVITIES:\nPurchases of property, plant and equipment (including payments to related parties of $7,347, $4,386 and\n$4,472 in fiscal years 2021, 2020 and 2019, respectively) Proceeds from sale of investment in a privately-held company Net cash used in investing activities 350 (58,016) (58,016) (44,338) (24,849)\n— 750 —\n(1,452) (43,588) 59,800\nOther long-term liabilities (including changes in related party balances of $(1,699), $(1,301) and\n$(500) in fiscal years 2021, 2020 and 2019, respectively) (4,220) (8,001) 116\nNet cash provided by (used in) operating activities 122,955 (30,334) 262,554\n(24,849)\nFINANCING ACTIVITIES:\nProceeds from borrowings, net of debt issuance costs 127,059 164,791 41,760\nRepayment of debt (60,629) (159,191) (67,700)\nNet repayment on asset-backed revolving line of credit, net of costs — (1,116) (65,945)\nPayment of other fees for debt financing (561) (650) (625)\nProceeds from exercise of stock options 28,387 28,343 —\nChanges in obligations under capital leases 25 (138) (267)\nPayment of withholding tax on vesting of restricted stock units (8,721) (8,243) (3,051)\nStock repurchases (130,000) — —\nNet cash (used in) provided by financing activities (44,440) 23,796 (95,828)\nEffect of exchange rate fluctuations on cash 560 376 (119)\nNet increase (decrease) in cash, cash equivalents, and restricted cash 21,059 (49,750) 141,758\nCash, cash equivalents and restricted cash at beginning of year 212,390 262,140 120,382\nCash, cash equivalents and restricted cash at end of year $ 233,449 $ 212,390 $ 262,140\nSupplemental disclosure of cash flow information:\nCash paid for interest $ 1,948 $ 2,172 $ 3,861\nCash paid for taxes, net of refunds $ 2,914 $ 43,317 $ 23,604\nNon-cash investing and financing activities:\nUnpaid property, plant and equipment purchases (including due to related parties of $400, $2,223 and\n$1,609 as of June 30, 2021, 2020 and 2019, respectively) Equipment purchased under capital leases $ 9,003 $ 3,258 $ 12,051 $ — $ 9,232\n$ —\nContribution of certain technology rights to equity investee $ — $ — $ 3,000\n55\n\nPage 60:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2021 2020 2019\nNet sales (including related party sales of $79,018, $85,759, and $69,906 in\nfiscal years 2021, 2020 and 2019, respectively) $ 3,557,422 $ 3,339,281 $ 3,500,360\nCost of sales (including related party purchases of $239,558, $283,056, and\n$276,843 in fiscal years 2021, 2020 and 2019, respectively) 3,022,884 2,813,071 3,004,838\nGross profit 534,538 526,210 495,522\nOperating expenses:\nResearch and development 224,369 221,478 179,907\nSales and marketing 85,683 85,137 77,154\nGeneral and administrative 100,539 133,941 141,228\nTotal operating expenses 410,591 440,556 398,289\nIncome from operations 123,947 85,654 97,233\nOther (expense) income, net (2,834) 1,410 (1,020)\nInterest expense (2,485) (2,236) (6,690)\nIncome before income tax provision 118,628 84,828 89,523\nIncome tax provision (6,936) (2,922) (14,884)\nShare of income (loss) from equity investee, net of taxes 173 2,402 (2,721)\nNet income $ 111,865 $ 84,308 $ 71,918\nNet income per common share:\nBasic $ 2.19 $ 1.65 $ 1.44\nDiluted $ 2.09 $ 1.60 $ 1.39\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,157 50,987 49,917\nDiluted 53,507 52,838 51,716\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_company_type",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n__________________________________________________________________________\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT\nOF 1934\nFor the fiscal year ended June 30, 2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the transition period from to\nCommission File Number 001-33383\n__________________________________________________________________________\nSuper Micro Computer, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 77-0353939\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n980 Rock Avenue\nSan Jose, CA 95131\n(Address of principal executive offices, including zip code)\n(408) 503-8000\n(Registrant’s telephone number, including area code)\n__________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol SMCI Name of each exchange on which registered\nNASDAQ Global Select Market\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required\nto submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_key_financials",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "net income 111865k, gross profit: 534538k, net income per common share basic: 2.19",
      "golden_context": "Page 63:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended June 30,\n2021 2020 2019\nOPERATING ACTIVITIES:\nNet income $ 111,865 $ 84,308 $ 71,918\nReconciliation of net income to net cash (used in) provided by operating activities:\nDepreciation and amortization 28,185 28,472 24,202\nStock-based compensation expense 28,549 20,189 21,184\n(Recoveries of) Allowance for doubtful accounts (820) (3,081) 7,058\nProvision for excess and obsolete inventories 6,805 18,373 32,946\nOther (1,044) 1,364 733\nImpairment of investments — — 2,661\nShare of (income) loss from equity investee (173) (2,402) 2,721\nForeign currency exchange loss (gain) 2,482 1,008 (313)\nDeferred income taxes, net (8,390) (13,772) (17,100)\nChanges in operating assets and liabilities:\nAccounts receivable, net (including changes in related party balances of $34, $4,727 and $(10,357)\nin fiscal years 2021, 2020 and 2019, respectively) (59,325) (7,023) 85,027\nInventories (196,271) (199,683) 119,314\nPrepaid expenses and other assets (including changes in related party balances of $(3,957), $1,511\nand $2,714 in fiscal years 2021, 2020 and 2019, respectively) Accounts payable (including changes in related party balances of $(2,272), $12,559 and $(18,001)\nin fiscal years 2021, 2020 and 2019, respectively) (5,291) (29,869) 8,410\n189,309 59,889 (173,410)\nIncome taxes payable 8,041 (8,321) 5,831\nAccrued liabilities (including changes in related party balances of $2,322, $5,670 and $(7,858) in\nfiscal years 2021, 2020 and 2019, respectively) 24,705 27,865 11,456\nDeferred revenue INVESTING ACTIVITIES:\nPurchases of property, plant and equipment (including payments to related parties of $7,347, $4,386 and\n$4,472 in fiscal years 2021, 2020 and 2019, respectively) Proceeds from sale of investment in a privately-held company Net cash used in investing activities 350 (58,016) (58,016) (44,338) (24,849)\n— 750 —\n(1,452) (43,588) 59,800\nOther long-term liabilities (including changes in related party balances of $(1,699), $(1,301) and\n$(500) in fiscal years 2021, 2020 and 2019, respectively) (4,220) (8,001) 116\nNet cash provided by (used in) operating activities 122,955 (30,334) 262,554\n(24,849)\nFINANCING ACTIVITIES:\nProceeds from borrowings, net of debt issuance costs 127,059 164,791 41,760\nRepayment of debt (60,629) (159,191) (67,700)\nNet repayment on asset-backed revolving line of credit, net of costs — (1,116) (65,945)\nPayment of other fees for debt financing (561) (650) (625)\nProceeds from exercise of stock options 28,387 28,343 —\nChanges in obligations under capital leases 25 (138) (267)\nPayment of withholding tax on vesting of restricted stock units (8,721) (8,243) (3,051)\nStock repurchases (130,000) — —\nNet cash (used in) provided by financing activities (44,440) 23,796 (95,828)\nEffect of exchange rate fluctuations on cash 560 376 (119)\nNet increase (decrease) in cash, cash equivalents, and restricted cash 21,059 (49,750) 141,758\nCash, cash equivalents and restricted cash at beginning of year 212,390 262,140 120,382\nCash, cash equivalents and restricted cash at end of year $ 233,449 $ 212,390 $ 262,140\nSupplemental disclosure of cash flow information:\nCash paid for interest $ 1,948 $ 2,172 $ 3,861\nCash paid for taxes, net of refunds $ 2,914 $ 43,317 $ 23,604\nNon-cash investing and financing activities:\nUnpaid property, plant and equipment purchases (including due to related parties of $400, $2,223 and\n$1,609 as of June 30, 2021, 2020 and 2019, respectively) Equipment purchased under capital leases $ 9,003 $ 3,258 $ 12,051 $ — $ 9,232\n$ —\nContribution of certain technology rights to equity investee $ — $ — $ 3,000\n55\n\nPage 60:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2021 2020 2019\nNet sales (including related party sales of $79,018, $85,759, and $69,906 in\nfiscal years 2021, 2020 and 2019, respectively) $ 3,557,422 $ 3,339,281 $ 3,500,360\nCost of sales (including related party purchases of $239,558, $283,056, and\n$276,843 in fiscal years 2021, 2020 and 2019, respectively) 3,022,884 2,813,071 3,004,838\nGross profit 534,538 526,210 495,522\nOperating expenses:\nResearch and development 224,369 221,478 179,907\nSales and marketing 85,683 85,137 77,154\nGeneral and administrative 100,539 133,941 141,228\nTotal operating expenses 410,591 440,556 398,289\nIncome from operations 123,947 85,654 97,233\nOther (expense) income, net (2,834) 1,410 (1,020)\nInterest expense (2,485) (2,236) (6,690)\nIncome before income tax provision 118,628 84,828 89,523\nIncome tax provision (6,936) (2,922) (14,884)\nShare of income (loss) from equity investee, net of taxes 173 2,402 (2,721)\nNet income $ 111,865 $ 84,308 $ 71,918\nNet income per common share:\nBasic $ 2.19 $ 1.65 $ 1.44\nDiluted $ 2.09 $ 1.60 $ 1.39\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,157 50,987 49,917\nDiluted 53,507 52,838 51,716\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_revenue",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "net sales 3557422k",
      "golden_context": "Page 60:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2021 2020 2019\nNet sales (including related party sales of $79,018, $85,759, and $69,906 in\nfiscal years 2021, 2020 and 2019, respectively) $ 3,557,422 $ 3,339,281 $ 3,500,360\nCost of sales (including related party purchases of $239,558, $283,056, and\n$276,843 in fiscal years 2021, 2020 and 2019, respectively) 3,022,884 2,813,071 3,004,838\nGross profit 534,538 526,210 495,522\nOperating expenses:\nResearch and development 224,369 221,478 179,907\nSales and marketing 85,683 85,137 77,154\nGeneral and administrative 100,539 133,941 141,228\nTotal operating expenses 410,591 440,556 398,289\nIncome from operations 123,947 85,654 97,233\nOther (expense) income, net (2,834) 1,410 (1,020)\nInterest expense (2,485) (2,236) (6,690)\nIncome before income tax provision 118,628 84,828 89,523\nIncome tax provision (6,936) (2,922) (14,884)\nShare of income (loss) from equity investee, net of taxes 173 2,402 (2,721)\nNet income $ 111,865 $ 84,308 $ 71,918\nNet income per common share:\nBasic $ 2.19 $ 1.65 $ 1.44\nDiluted $ 2.09 $ 1.60 $ 1.39\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,157 50,987 49,917\nDiluted 53,507 52,838 51,716\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_revenue_growth",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 3557422k, prior year: 3339281k",
      "golden_context": "Page 60:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2021 2020 2019\nNet sales (including related party sales of $79,018, $85,759, and $69,906 in\nfiscal years 2021, 2020 and 2019, respectively) $ 3,557,422 $ 3,339,281 $ 3,500,360\nCost of sales (including related party purchases of $239,558, $283,056, and\n$276,843 in fiscal years 2021, 2020 and 2019, respectively) 3,022,884 2,813,071 3,004,838\nGross profit 534,538 526,210 495,522\nOperating expenses:\nResearch and development 224,369 221,478 179,907\nSales and marketing 85,683 85,137 77,154\nGeneral and administrative 100,539 133,941 141,228\nTotal operating expenses 410,591 440,556 398,289\nIncome from operations 123,947 85,654 97,233\nOther (expense) income, net (2,834) 1,410 (1,020)\nInterest expense (2,485) (2,236) (6,690)\nIncome before income tax provision 118,628 84,828 89,523\nIncome tax provision (6,936) (2,922) (14,884)\nShare of income (loss) from equity investee, net of taxes 173 2,402 (2,721)\nNet income $ 111,865 $ 84,308 $ 71,918\nNet income per common share:\nBasic $ 2.19 $ 1.65 $ 1.44\nDiluted $ 2.09 $ 1.60 $ 1.39\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,157 50,987 49,917\nDiluted 53,507 52,838 51,716\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000359_segments",
      "report_id": "ID_000359",
      "company_name": "Super Micro Computer",
      "year": 2021,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "One operating segment: develops and provides high performance server solutions based upon an innovative, modular and open-standard architecture. ",
      "golden_context": "Page 98:\n\ncontribution was $0.7 million, $0.6 million, and $0.5 million, respectively.\nThe Company contributes to a defined contribution pension plan administered by the government of Taiwan that\ncovers all eligible employees within Taiwan. Pension plan benefits are based primarily on participants’ compensation and years\nof service credited as specified under the terms of Taiwan’s plan. The funding policy is consistent with the local requirements of\nTaiwan. The Company's obligation is limited to the contributions made to the pension plan. The Company has no control over\nthe investment strategy of the assets of the government administered pension plan. For the fiscal years ended June 30, 2021,\n2020 and 2019, the Company’s contribution was $2.5 million, $1.9 million and $1.6 million, respectively.\nThe Company has a defined benefit pension plan under the R.O.C. Labor Standards Law for certain employees of\nSuper Micro Computer, Inc. Taiwan that provides benefits based on an employee’s length of service and average monthly salary\nfor the six-month period prior to retirement. The Company contributes an amount equal to 2% of salaries paid each month to\nthe pension fund (the “Fund”), which is administered by the Labor Pension Fund Supervisory Committee (the “Committee”)\nand deposited in the Committee’s name in the Bank of Taiwan. Before the end of each year, the Company assesses the balance\nin the Fund. If the amount of the balance in the Fund is inadequate to pay retirement benefits for eligible employees in the next\nyear, the Company is required to fund the difference in one appropriation that should be made before the end of March 31 of the\nnext year. The Fund is operated and managed by the government’s designated authorities. As such, the Company does not have\nany right to intervene in the investments of the Fund. For the fiscal year ended June 30, 2021, the Company recorded a pension\nexpense of $1.0 million. For the fiscal years ended June 30, 2020 and 2019, the Company’s pension expense was immaterial.\nNote 18. Segment Reporting\nThe Company operates in one operating segment that develops and provides high performance server solutions based\nupon an innovative, modular and open-standard architecture. The Company’s chief operating decision maker is the Chief\nExecutive Officer.\nThe following is a summary of property, plant and equipment, net (in thousands):\nJune 30,\n2021 2020\nLong-lived assets:\nUnited States $ 180,143 $ 178,812\nAsia 91,640 51,605\nEurope 2,930 3,368\n$ 274,713 $ 233,785\nThe Company’s revenue is presented on a disaggregated basis in Note 3, “Revenue” by type of product and by\ngeographical market.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_cash_flow",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating: -440801k, investing: -46282k, financing: 522871k",
      "golden_context": "Page 72:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended June 30,\n2022 2021 2020\nOPERATING ACTIVITIES:\nNet income $ 285,163 $ 111,865 $ 84,308\nReconciliation of net income to net cash (used in) provided by operating activities:\nDepreciation and amortization 32,471 28,185 28,472\n28,549 20,189\nStock-based compensation expense Recovery of allowance for doubtful accounts (840) (820) (3,081)\nProvision for excess and obsolete inventories Other Share of income from equity investee 32,816 15,090 368 (1,206) 6,805 (1,044) (173) 18,373\n1,364\n(2,402)\nForeign currency exchange (gain) loss (13,747) 2,482 1,008\nDeferred income taxes, net (6,817) (8,390) (13,772)\nChanges in operating assets and liabilities:\nAccounts receivable, net (including changes in related party balances of $280,\n$34 and $4,727 in fiscal years 2022, 2021 and 2020, respectively) (371,598) (59,325) (7,023)\nInventories (519,732) (196,271) (199,683)\nPrepaid expenses and other assets (including changes in related party balances\nof $(575), $(3,969) and $1,511 in fiscal years 2022, 2021 and 2020,\nrespectively) (28,794) (5,291) (29,869)\nAccounts payable (including changes in related party balances of $17,259,\n$(2,272) and $12,559 in fiscal years 2022, 2021 and 2020, respectively) 50,145 189,309 59,889\nIncome taxes payable 29,002 8,041 (8,321)\nAccrued liabilities (including changes in related party balances of $148,\n$2,322 and $5,670 in fiscal years 2022, 2021 and 2020, respectively) 35,891 24,705 27,865\nDeferred revenue 31,544 (1,452) 350\nOther long-term liabilities (including changes in related party balances of\n$499, $(1,699) and $(1,301) in fiscal years 2022, 2021 and 2020, respectively) (10,557) (4,220) (8,001)\nNet cash provided by (used in) operating activities (440,801) 122,955 (30,334)\nINVESTING ACTIVITIES:\n(45,182) (1,100) — —\nProceeds from sale of investment in a privately-held company — — 750\nNet cash used in investing activities (46,282) FINANCING ACTIVITIES:\nProceeds from borrowings Repayment of debt Net repayment on asset-backed revolving line of credit, net of costs Purchases of property, plant and equipment (including payments to related parties of\n$4,818, $7,347 and $4,386 in fiscal years 2022, 2021 and 2020, respectively) Investment in a privately-held company (58,016) (58,016) — — (44,338)\n(43,588)\n(1,116)\n(650)\n28,343\n(138)\n1,153,317 127,059 164,791\n(640,695) (60,629) (159,191)\nPayment of other fees for debt financing Proceeds from exercise of stock options, net of taxes Changes in obligations under capital leases (592) 20,994 (72) (561) 28,387 25 Payment of withholding tax on vesting of restricted stock units Stock repurchases (10,081) (8,721) (8,243)\n— (130,000) —\nNet cash (used in) provided by financing activities 522,871 (44,440) 23,796\nEffect of exchange rate fluctuations on cash (678) 560 376SMCI | 2022 Form 10-K | 63\nNet increase (decrease) in cash, cash equivalents, and restricted cash 35,110 21,059 (49,750)\nCash, cash equivalents and restricted cash at beginning of year 233,449 212,390 262,140\nCash, cash equivalents and restricted cash at end of year $ 268,559 $ 233,449 $ 212,390\nSupplemental disclosure of cash flow information:\nCash paid for interest $ 5,492 $ 1,948 $ 2,172\nCash paid for taxes, net of refunds $ 19,690 $ 2,914 $ 43,317\nNon-cash investing and financing activities:\nUnpaid property, plant and equipment purchases (including due to related parties\nof $689, $400 and $2,223 as of June 30, 2022, 2021 and 2020, respectively) $ 7,825 $ 9,003 $ 12,051\nRight of use (\"ROU\") assets obtained in exchange for operating lease\ncommitments $ 11,151 $ 3,258 $ —\nSee accompanying notes to consolidated financial statemen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_company_type",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n______________________________________________________________________\nForm 10-K\n______________________________________________________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from___________to___________\nCommission File Number 001-33383\n______________________________________________________________________\nSuper Micro Computer, Inc.\n(Exact name of registrant as specified in its charter)\n______________________________________________________________________\nDelaware 77-0353939\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n980 Rock Avenue\nSan Jose, CA 95131\n(Address of principal executive offices, including zip code)\n(408) 503-8000\n(Registrant’s telephone number, including area code)\n__________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol Common Stock, $0.001 par value per share SMCI Securities registered pursuant to section 12(g) of the Act: None\nName of each exchange on which registered\nNASDAQ Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this cha",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_key_financials",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Net income 285163k, gross profit 800m, gross margin 15.4%",
      "golden_context": "Page 57:\n\nost of sales primarily consists of the costs to manufacture our products, including the costs of materials, contract\nmanufacturing, shipping, personnel expenses, including salaries, benefits, stock-based compensation and incentive bonuses,\nequipment and facility expenses, warranty costs and inventory excess and obsolescence provisions. The primary factors that\nimpact our cost of sales are the mix of products sold and cost of materials, which include purchased parts and material costs,\nshipping costs, salary and benefits and overhead costs related to production. Cost of sales as a percentage of net sales may increase\nover time if decreases in average selling prices are not offset by corresponding decreases in our costs. Our cost of sales as a\npercentage of net sales is also impacted by the extent to which we are able to efficiently utilize our expanding manufacturing\ncapacity. Because we generally do not have long-term fixed supply agreements, our cost of sales is subject to change based on\nthe cost of materials and market conditions. As a result, our cost of sales as a percentage of net sales in any period can increase\ndue to significant component price increases resulting from component shortages.\nWe use several suppliers and contract manufacturers to design and manufacture subsystems in accordance with our\nspecifications, with most final assembly and testing predominantly performed at our manufacturing facilities in the same region\nwhere our products are sold. We work with Ablecom, one of our key contract manufacturers and also a related party to optimize\nmodular designs for our chassis and certain of other components. We also outsource to Compuware, also a related party, a portion\nof our design activities and a significant part of our manufacturing of components, particularly power supplies. Our purchases of\nproducts from Ablecom and Compuware combined represented 8.3%, 7.8% and 10.1% of our cost of sales for fiscal years 2022,\n2021 and 2020, respectively. For further details on our dealings with related parties, see Part II, Item 8, Note 12, “Related Party\nTransactions.”\nCost of sales and gross margin for fiscal years 2022, 2021 and 2020, are as follows (dollars in millions):\nYears Ended June 30, 2022 over 2021 Change 2021 over 2020 Change\n2022 2021 2020 $ % $ %\nCost of sales $ 4,396.1 $ 3,022.9 $ 2,813.1 $ 1,373.2 45.4 % $ 209.8 7.5 %\nGross profit 800.0 534.5 526.2 265.5 49.7 % 8.3 1.6 %\nGross margin 15.4 % 15.0 % 15.8 % 0.4 % (0.8)%\nFiscal Year 2022 Compared with Fiscal Year 2021\nThe year-over-year increase in cost of sales was primarily attributed to an increase of $1,262.6 million in costs of\nmaterials and contract manufacturing expenses primarily related to the increase in net sales volume, a $54.9 million increase in\nfreight charges, a $23.6 million increase in overhead costs, a $18.9 million increase due to lower cost recovery of cost paid in\nprior periods, a $8.3 million increase in excess and obsolete inventory charges and a $4.9 million increase in other cost of sales.\nSMCI | 2022 \n\nPage 72:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\nYears Ended June 30,\n2022 2021 2020\nOPERATING ACTIVITIES:\nNet income $ 285,163 $ 111,865 $ 84,308\nReconciliation of net income to net cash (used in) provided by operating activities:\nDepreciation and amortization 32,471 28,185 28,472\n28,549 20,189\nStock-based compensation expense Recovery of allowance for doubtful accounts (840) (820) (3,081)\nProvision for excess and obsolete inventories Other Share of income from equity investee 32,816 15,090 368 (1,206) 6,805 (1,044) (173) 18,373\n1,364\n(2,402)\nForeign currency exchange (gain) loss (13,747) 2,482 1,008\nDeferred income taxes, net (6,817) (8,390) (13,772)\nChanges in operating assets and liabilities:\nAccounts receivable, net (including changes in related party balances of $280,\n$34 and $4,727 in fiscal years 2022, 2021 and 2020, respectively) (371,598) (59,325) (7,023)\nInventories (519,732) (196,271) (199,683)\nPrepaid expenses and other assets (including changes in related party balances\nof $(575), $(3,969) and $1,511 in fiscal years 2022, 2021 and 2020,\nrespectively) (28,794) (5,291) (29,869)\nAccounts payable (including changes in related party balances of $17,259,\n$(2,272) and $12,559 in fiscal years 2022, 2021 and 2020, respectively) 50,145 189,309 59,889\nIncome taxes payable 29,002 8,041 (8,321)\nAccrued liabilities (including changes in related party balances of $148,\n$2,322 and $5,670 in fiscal years 2022, 2021 and 2020, respectively) 35,891 24,705 27,865\nDeferred revenue 31,544 (1,452) 350\nOther long-term liabilities (including changes in related party balances of\n$499, $(1,699) and $(1,301) in fiscal years 2022, 2021 and 2020, respectively) (10,557) (4,220) (8,001)\nNet cash provided by (used in) operating activities (440,801) 122,955 (30,334)\nINVESTING ACTIVITIES:\n(45,182) (1,100) — —\nProceeds from sale of investment in a privately-held company — — 750\nNet cash used in investing activities (46,282) FINANCING ACTIVITIES:\nProceeds from borrowings Repayment of debt Net repayment on asset-backed revolving line of credit, net of costs Purchases of property, plant and equipment (including payments to related parties of\n$4,818, $7,347 and $4,386 in fiscal years 2022, 2021 and 2020, respectively) Investment in a privately-held company (58,016) (58,016) — — (44,338)\n(43,588)\n(1,116)\n(650)\n28,343\n(138)\n1,153,317 127,059 164,791\n(640,695) (60,629) (159,191)\nPayment of other fees for debt financing Proceeds from exercise of stock options, net of taxes Changes in obligations under capital leases (592) 20,994 (72) (561) 28,387 25 Payment of withholding tax on vesting of restricted stock units Stock repurchases (10,081) (8,721) (8,243)\n— (130,000) —\nNet cash (used in) provided by financing activities 522,871 (44,440) 23,796\nEffect of exchange rate fluctuations on cash (678) 560 376SMCI | 2022 Form 10-K | 63\nNet increase (decrease) in cash, cash equivalents, and restricted cash 35,110 21,059 (49,750)\nCash, cash equivalents and restricted cash at beginning of year 233,449 212,390 262,140\nCash, cash equivalents and restricted cash at end of year $ 268,559 $ 233,449 $ 212,390\nSupplemental disclosure of cash flow information:\nCash paid for interest $ 5,492 $ 1,948 $ 2,172\nCash paid for taxes, net of refunds $ 19,690 $ 2,914 $ 43,317\nNon-cash investing and financing activities:\nUnpaid property, plant and equipment purchases (including due to related parties\nof $689, $400 and $2,223 as of June 30, 2022, 2021 and 2020, respectively) $ 7,825 $ 9,003 $ 12,051\nRight of use (\"ROU\") assets obtained in exchange for operating lease\ncommitments $ 11,151 $ 3,258 $ —\nSee accompanying notes to consolidated financial statemen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_revenue",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "net sales 5196099k",
      "golden_context": "Page 69:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2022 2021 2020\nNet sales (including related party sales of $147,091, $79,018, and $85,759 in\nfiscal years 2022, 2021 and 2020, respectively) $ 5,196,099 $ 3,557,422 $ 3,339,281\nCost of sales (including related party purchases of $371,076, $239,558, and\n$288,271 in fiscal years 2022, 2021 and 2020, respectively) 4,396,098 3,022,884 2,813,071\nGross profit 800,001 534,538 526,210\nOperating expenses:\nResearch and development 272,273 224,369 221,478\nSales and marketing 90,126 85,683 85,137\nGeneral and administrative 102,435 100,539 133,941\nTotal operating expenses 464,834 410,591 440,556\nIncome from operations 335,167 123,947 85,654\nOther income (expense), net 8,079 (2,834) 1,410\nInterest expense (6,413) (2,485) (2,236)\nIncome before income tax provision 336,833 118,628 84,828\nIncome tax provision (52,876) (6,936) (2,922)\nShare of income from equity investee, net of taxes 1,206 173 2,402\nNet income $ 285,163 $ 111,865 $ 84,308\nNet income per common share:\nBasic $ 5.54 $ 2.19 $ 1.65\nDiluted $ 5.32 $ 2.09 $ 1.60\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,478 51,157 50,987\nDiluted 53,615 53,507 52,838\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_revenue_growth",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 5196099k, prior year 3557422k",
      "golden_context": "Page 69:\n\nSUPER MICRO COMPUTER, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share amounts)\nYears Ended June 30,\n2022 2021 2020\nNet sales (including related party sales of $147,091, $79,018, and $85,759 in\nfiscal years 2022, 2021 and 2020, respectively) $ 5,196,099 $ 3,557,422 $ 3,339,281\nCost of sales (including related party purchases of $371,076, $239,558, and\n$288,271 in fiscal years 2022, 2021 and 2020, respectively) 4,396,098 3,022,884 2,813,071\nGross profit 800,001 534,538 526,210\nOperating expenses:\nResearch and development 272,273 224,369 221,478\nSales and marketing 90,126 85,683 85,137\nGeneral and administrative 102,435 100,539 133,941\nTotal operating expenses 464,834 410,591 440,556\nIncome from operations 335,167 123,947 85,654\nOther income (expense), net 8,079 (2,834) 1,410\nInterest expense (6,413) (2,485) (2,236)\nIncome before income tax provision 336,833 118,628 84,828\nIncome tax provision (52,876) (6,936) (2,922)\nShare of income from equity investee, net of taxes 1,206 173 2,402\nNet income $ 285,163 $ 111,865 $ 84,308\nNet income per common share:\nBasic $ 5.54 $ 2.19 $ 1.65\nDiluted $ 5.32 $ 2.09 $ 1.60\nWeighted-average shares used in calculation of net income per common share:\nBasic 51,478 51,157 50,987\nDiluted 53,615 53,507 52,838\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000360_segments",
      "report_id": "ID_000360",
      "company_name": "Super Micro Computer",
      "year": 2022,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "The Company operates in one operating segment that develops and provides high performance server solutions based upon an innovative, modular and open-standard architecture",
      "golden_context": "Page 116:\n\nnvestment strategy of the assets of the government administered pension plan. For the fiscal years ended June 30, 2022, 2021\nand 2020, the Company’s contribution was $3.4 million, $2.5 million and $1.9 million, respectively.\nThe Company has a defined benefit pension plan under the R.O.C. Labor Standards Law for certain employees of Super\nMicro Computer, Inc. Taiwan that provides benefits based on an employee’s length of service and average monthly salary for the\nsix-month period prior to retirement. The Company contributes an amount equal to 2% of salaries paid each month to the pension\nfund (the “Fund”), which is administered by the Labor Pension Fund Supervisory Committee (the “Committee”) and deposited\nin the Committee’s name in the Bank of Taiwan. Before the end of each year, the Company assesses the balance in the Fund. If\nthe amount of the balance in the Fund is inadequate to pay retirement benefits for eligible employees in the next year, the Company\nis required to fund the difference in one appropriation that should be made before the end of March 31 of the next year. The Fund\nis operated and managed by the government’s designated authorities. As such, the Company does not have any right to intervene\nin the investments of the Fund. For the fiscal years ended June 30, 2022 and 2021, the Company recorded a pension expense of\n$0.4 million and $1.0 million, respectively. For the fiscal year ended June 30, 2020, the Company’s pension expense was\nimmaterial.\nNote 17. Segment Reporting\nThe Company operates in one operating segment that develops and provides high performance server solutions based\nupon an innovative, modular and open-standard architecture. The Company’s chief operating decision maker is the Chief\nExecutive Officer.\nThe following is a summary of property, plant and equipment, net (in thousands):\nJune 30,\n2022 2021\nLong-lived assets:\nUnited States $ 180,846 $ 180,143\nAsia 102,241 91,640\nEurope 2,885 2,930\n$ 285,972 $ 274,713\nThe Company’s revenue is presented on a disaggregated basis in Note 3, “Revenue” by type of product and by\ngeographical market.\nSMCI | 2022 Form 10-K | 107\nItem 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure\nNone.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_cash_flow",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 663.6m, investing: -39.5m, financing: -448.3m",
      "golden_context": "Page 56:\n\nOur key cash flow metrics were as follows (dollars in millions):\nYears Ended June 30, 2023 2022 2021\n2023 over\n2022\n2022 over\n2021\nNet cash provided by (used in) operating activities $ 663.6 $ (440.8) $ 123.0 $ 1,104.4 $ (563.8)\nNet cash used in investing activities $ (39.5) $ (46.3) $ (58.0) $ 6.8 $ 11.7\nNet cash (used in) provided by financing activities $ (448.3) $ 522.9 $ (44.4) $ (971.2) $ 567.3\nNet increase in cash, cash equivalents and restricted cash $ 172.4 $ 35.1 $ 21.1 $ 137.3 $ 14.0\nOperating Activities\nNet cash provided by operating activities increased by $1,104.4 million for fiscal year 2023 as compared to fiscal year\n2022. The increase was primarily due to an increase in net cash provided from net working capital of $796.7 million, a $354.8\nmillion increase in net income due to the increase in sales of our products and solutions, a $21.6 million increase in stock-based\ncompensation expense as a result of an increase in the cost of equity awards, a $11.1 million decrease in unrealized gain due to\ncurrency fluctuation, and a $6.4 million increase in other non-cash items. These changes are offset by an increase of $86.2\nmillion in deferred income taxes primarily due to increase in capitalized research and development costs.\nNet cash provided by operating activities decreased by $563.8 million for fiscal year 2022 as compared to fiscal year\n2021. The decrease was primarily due to an increase in net cash required for net working capital of $739.6 million to meet\ncustomer demand, support expected business growth and mitigate supply chain risk as a result of the COVID-19 pandemic\nenvironment and a $16.2 million decrease in unrealized gain and loss. These decreases are partially offset by increases in\nprovision for excess and obsolete inventories of $8.3 million, depreciation and amortization expense of $4.3 million, stock-\nbased compensation expense of $4.3 million and net income of $173.3 million. Since the beginning of the COVID-19 pandemic\nand the accompanying supply chain disruptions our management decided to increase our holdings of all components of our\ninventory (finished goods, work in process and purchased parts and raw materials). This decision reflected our belief that we\nhad opportunities to increase our net sales if we could mitigate the risk of being unable to satisfy customer demand because of\nthese supply chain disruptions, including longer lead times. We expect disruption of the supply chain and longer lead times to\ncontinue for the foreseeable future and therefore expect to continue to carry larger amounts of inventory than we would if the\nsupply chain were functioning more normally and predictably.\nInvesting Activities\nNet cash used in investing activities was $39.5 million, $46.3 million and $58.0 million for fiscal years 2023, 2022 and\n2021, respectively, as we invested in our Green Computing Park in San Jose to expand our manufacturing capacity and office,\nexpanded our Bade Facility in Taiwan and made purchases of property, plant and equipment.\nFinancing Activities\nNet cash used in financing act",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_company_type",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 7:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n______________________________________________________________________\nForm 10-K\n______________________________________________________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from___________to___________\nCommission File Number 001-33383\n______________________________________________________________________\nSuper Micro Computer, Inc.\n(Exact name of registrant as specified in its charter)\n______________________________________________________________________\nDelaware 77-0353939\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n980 Rock Avenue\nSan Jose, CA 95131\n(Address of principal executive offices, including zip code)\n(408) 503-8000\n(Registrant’s telephone number, including area code)\n__________________________________________________________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.001 par value per share Trading Symbol SMCI Name of each exchange on which registered\nNASDAQ Global Select Market\nSecurities registered pursuant to section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required\nto submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated file",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_key_financials",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Cost of sales 5840.5m, gross profit: 1283m, gross margin: 18%",
      "golden_context": "Page 52:\n\nost of sales and gross margin for fiscal years 2023, 2022 and 2021, are as follows (dollars in millions):\nYears Ended June 30, 2023 over 2022 Change 2022 over 2021 Change\n2023 2022 2021 $ % $ %\nCost of sales $ 5,840.5 $ 4,396.1 $ 3,022.9 $ 1,444.4 32.9 % $ 1,373.2 45.4 %\nGross profit 1,283.0 800.0 534.5 483.0 60.4 % 265.5 49.7 %\nGross margin 18.0 % 15.4 % 15.0 % 2.6 % 0.4 %\nFiscal Year 2023 Compared with Fiscal Year 2022\nThe year-over-year increase in cost of sales was primarily attributed to an increase of $1,379.6 million in costs of\nmaterials and contract manufacturing expenses primarily related to the increased shipments of our products and solutions, a\n$59.2 million increase in overhead costs which includes labor costs attributed to increase of operation activities, a $36.6 million\nincrease in inventory reserves, and a $13.6 million increase in other cost of sales partially offset by a $44.6 million decrease in\nfreight charges due to a reduced need to expedite shipments due to disruptions in the supply chain caused by the COVID-19\npandemic.\nThe year-over-year increase in the gross margin percentage was primarily due to favorable product and customer mix\nand lower other cost of goods sold as a percentage of sales, based on higher volumes.\nFiscal Year 2022 Compared with Fiscal Year 2021\nThe year-over-year increase in cost of sales was primarily attributed to an increase of $1,262.6 million in costs of\nmaterials and contract manufacturing expenses primarily related to the increase in net sales volume, a $54.9 million increase in\nfreight charges, a $23.6 million increase in overhead costs, a $18.9 million increase due to lower cost recovery of cost paid in\nprior periods, a $8.3 million increase in excess and obsolete inventory charges and a $4.9 million increase in other cost of sales.\nThe year-over-year increase in the gross margin percentage was primarily due to sales prices increases, product and\ncustomer mix and higher capitalization of manufacturing overhead due to higher inventory levels, offset by higher costs from\nfreight, overhead, other cost of sales, excess and obsolete inventory charges, and lower recovery of costs from prior periods.\nSince the start of the COVID-19 pandemic, we have experienced an increase in costs of sales, logistics costs as well as direct\nlabor costs as we incentivized our employees. This increase in costs negatively impacts our gross margin, and we expect these\nhigher costs to continue for the duration of the COVID-19 pandemic.\nOperating Expenses\nResearch and development expenses consist of personnel expenses, including salaries, benefits, stock-based\ncompensation and incentive bonuses, and related expenses for our research and development personnel, as well as product\ndevelopment costs such as materials and supplies, consulting services, third-party testing services and equipment and facility\nexpenses related to our research and development activities. All research and development costs are expensed as incurred. We\noccasionally receive non-recurring engineering (\"NRE\") funding from certain suppliers and customers for joint development.\nUnder these arrangements, we are reimbursed for certain research and development costs that we incur as part of the joint\ndevelopment efforts with our suppliers and customers",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_revenue",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "7123482k",
      "golden_context": "Page 79:\n\nminable fair values in the amount of $1.7 million and $1.2 million as of June 30, 2023, and 2022, respectively. The\nCompany accounts for these investments at cost minus impairment, if any, plus or minus changes from observable price\nchanges in orderly transactions for the identical or similar investments by the same issuer. During the years ended June 30,\n2023 and 2022, the Company did not record any upward or downward adjustments to the carrying values of the non-marketable\nequity securities related to observable price changes. The Company also did not record any impairment to the carrying values of\nthe non-marketable equity securities during fiscal year 2023, 2022 and 2021.\nNote 3. Revenue\nDisaggregation of Revenue\nThe Company disaggregates revenue by type of product and geographical market in order to depict the nature, amount,\nand timing of revenue and cash flows. Service revenues, which are less than 10%, are not a significant component of total\nrevenue and are aggregated within the respective categories.\nThe following is a summary of net sales by product type (in thousands):\nYears Ended June 30,\n2023 2022 2021\nServer and storage systems $ 6,569,814 $ 4,463,833 $ 2,790,305\nSubsystems and accessories 553,668 732,266 767,117\nTotal $ 7,123,482 $ 5,196,099 $ 3,557,422\nServer and storage systems constitute an assembly and integration of subsystems and accessories, and related services.\nSubsystems and accessories are comprised of serverboards, chassis and accessories.\nSMCI | 2023 Form 10-K | 70\nSUPER MICRO COMPUTER, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)\nInternational net sales are based on the country and geographical region to which the products were shipped. The\nfollowing is a summary of net sales by geograp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_revenue_growth",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "7123482k, prior year: 5196099k",
      "golden_context": "Page 79:\n\nminable fair values in the amount of $1.7 million and $1.2 million as of June 30, 2023, and 2022, respectively. The\nCompany accounts for these investments at cost minus impairment, if any, plus or minus changes from observable price\nchanges in orderly transactions for the identical or similar investments by the same issuer. During the years ended June 30,\n2023 and 2022, the Company did not record any upward or downward adjustments to the carrying values of the non-marketable\nequity securities related to observable price changes. The Company also did not record any impairment to the carrying values of\nthe non-marketable equity securities during fiscal year 2023, 2022 and 2021.\nNote 3. Revenue\nDisaggregation of Revenue\nThe Company disaggregates revenue by type of product and geographical market in order to depict the nature, amount,\nand timing of revenue and cash flows. Service revenues, which are less than 10%, are not a significant component of total\nrevenue and are aggregated within the respective categories.\nThe following is a summary of net sales by product type (in thousands):\nYears Ended June 30,\n2023 2022 2021\nServer and storage systems $ 6,569,814 $ 4,463,833 $ 2,790,305\nSubsystems and accessories 553,668 732,266 767,117\nTotal $ 7,123,482 $ 5,196,099 $ 3,557,422\nServer and storage systems constitute an assembly and integration of subsystems and accessories, and related services.\nSubsystems and accessories are comprised of serverboards, chassis and accessories.\nSMCI | 2023 Form 10-K | 70\nSUPER MICRO COMPUTER, INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)\nInternational net sales are based on the country and geographical region to which the products were shipped. The\nfollowing is a summary of net sales by geograp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000361_segments",
      "report_id": "ID_000361",
      "company_name": "Super Micro Computer",
      "year": 2023,
      "country": "US",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "The Company operates in one operating segment that develops and provides high performance server solutions based upon an innovative, modular and open-standard architecture. The Company’s chief operating decision maker is the Chief Executive Officer.",
      "golden_context": "Page 107:\n\n's obligation is limited to the contributions made to the contribution plan. Investment risk and investment rewards are\nassumed by the employees and not by the Company. For the fiscal years ended June 30, 2023, 2022 and 2021, the Company’s\nmatching contribution was $0.9 million, $0.8 million, and $0.7 million, respectively.\nThe Company contributes to a defined contribution pension plan administered by the government of Taiwan that\ncovers all eligible employees within Taiwan. Pension plan benefits are based primarily on participants’ compensation and years\nof service credited as specified under the terms of Taiwan’s plan. The funding policy is consistent with the local requirements\nof Taiwan. The Company's obligation is limited to the contributions made to the pension plan. The Company has no control\nover the investment strategy of the assets of the government administered pension plan. For the fiscal years ended June 30,\n2023, 2022 and 2021, the Company’s contribution was $3.6 million, $3.4 million and $2.5 million, respectively.\nThe Company has a defined benefit pension plan under the R.O.C. Labor Standards Law for certain employees of\nSuper Micro Computer, Inc. Taiwan that provides benefits based on an employee’s length of service and average monthly\nsalary for the six-month period prior to retirement. The Company contributes an amount equal to 2% of salaries paid each\nmonth to the pension fund (the “Fund”), which is administered by the Labor Pension Fund Supervisory Committee (the\n“Committee”) and deposited in the Committee’s name in the Bank of Taiwan. Before the end of each year, the Company\nassesses the balance in the Fund. If the amount of the balance in the Fund is inadequate to pay retirement benefits for eligible\nemployees in the next year, the Company is required to fund the difference in one appropriation that should be made before the\nend of March 31 of the next year. The Fund is operated and managed by the government’s designated authorities. As such, the\nCompany does not have any right to intervene in the investments of the Fund. For the fiscal years ended June 30, 2023, 2022\nand 2021, the Company recorded a pension expense of $(0.1) million, $0.4 million and $1.0 million, respectively.\nNote 14. Segment Reporting\nThe Company operates in one operating segment that develops and provides high performance server solutions based\nupon an innovative, modular and open-standard architecture. The Company’s chief operating decision maker is the Chief\nExecutive Officer.\nThe following is a summary of property, plant and equipment, net (in thousands):\nJune 30,\n2023 2022\nLong-lived assets:\nUnited States $ 183,485 $ 180,846\nAsia 104,094 102,241\nEurope 2,661 2,885\n$ 290,240 $ 285,972\nThe Company’s revenue is presented on a disaggregated basis in Part II, Item 8, Note 3, “Revenue” by type of product\nand by geographical market.\nSMCI | 2023 Form 10-K | 98",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_cash_flow",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 894'967k, \ninvesting: -253'586k, \nfinancing: -546'398k",
      "golden_context": "Page 74:\n\nMid-America Apartments, L.P.\nConsolidated Statements of Cash Flows\nYears ended December 31, 2021, 2020 and 2019\n(Dollars in thousands)\n2021 2020 2019\nCash flows from operating activities:\nNet income $ 550,702 $ 264,015 $ 366,618\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 534,415 511,678 497,790\nGain on sale of depreciable real estate assets (220,428) (9) (80,988)\nGain on sale of non-depreciable real estate assets (811) (1,024) (12,047)\nLoss (gain) on embedded derivative in preferred shares 4,560 (2,562) (17,886)\nStock compensation expense 16,665 14,329 13,654\nAmortization of debt issuance costs, discounts and premiums 5,652 4,960 5,778\nGain from unconsolidated limited partnerships, net of distributions received (51,713) (4,577) (3,882)\nNet change in operating accounts and other operating activities 55,925 37,139 12,383\nNet cash provided by operating activities 894,967 823,949 781,420\nCash flows from investing activities:\nPurchases of real estate and other assets (46,028) (56,965) (105,106)\nCapital improvements and other (279,635) (225,506) (190,204)\nDevelopment costs (231,642) (201,435) (112,893)\nDistributions from real estate joint venture 497 349 507\nContributions to affiliates (4,669) (5,349) (5,391)\nProceeds from disposition of real estate assets 307,891 4,175 174,814\nNet cash used in investing activities (253,586) (484,731) (238,273)\nCash flows from financing activities:\nProceeds from revolving credit facility — 255,000 565,000\nRepayments of revolving credit facility — (255,000) (1,105,000)\nNet (payments of) proceeds from commercial paper (172,000) 102,000 70,000\nProceeds from notes payable 594,423 447,593 1,059,289\nPrincipal payments on notes payable (467,153) (441,108) (657,619)\nPayment of deferred financing costs (5,940) (4,217) (14,274)\nDistributions paid on common units (485,898) (473,598) (453,682)\nDistributions paid on preferred units (3,688) (3,688) (3,688)\nNet change in other financing activities Net cash used in financing activities (6,142) (1,126) 15,695\n(546,398) (374,144) (524,279)\nNet increase (decrease) in cash, cash equivalents and restricted cash 94,983 (34,926) 18,868\n35,615 70,541 51,673\n$ 130,598 $ 35,615 $ 70,541\nCash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Consolidated\nBalance Sheets:\nReconciliation of cash, cash equivalents and restricted cash:\nCash and cash equivalents $ 54,302 $ 25,198 $ 20,476\nRestricted cash 76,296 10,417 50,065\nTotal cash, cash equivalents and restricted cash $ 130,598 $ 35,615 $ 70,541\nSupplemental information:\nInterest paid $ 158,630 $ 165,098 $ 169,743\nIncome taxes paid 2,543 2,549 2,546\nNon-cash transactions:\nAccrued construction in progress $ 15,123 $ 19,625 $ 9,298\nInterest capitalized 9,720 6,912 2,889\nSee accompanying notes to consolidated financial statements.\nF-16",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_company_type",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 9:\n\nES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from\nto\n__________\n___________\nCommission File Number 001-12762 (Mid-America Apartment Communities, Inc.)\nCommission File Number 333-190028-01 (Mid-America Apartments, L.P.)\nMID-AMERICA APARTMENT COMMUNITIES, INC.\nMID-AMERICA APARTMENTS, L.P.\n(Exact name of registrant as specified in its charter)\nTennessee (Mid-America Apartment Communities, Inc.) Tennessee (Mid-America Apartments, L.P.) 62-1543816\n(State or other jurisdiction of incorporation or organization) 62-1543819\n(I.R.S. Employer Identification No.)\n6815 Poplar Avenue, Suite 500, Germantown, Tennessee, 38138\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (901) 682-6600\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class\nTrading\nSymbol(s) Common Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.) 8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share (Mid-America Apartment Communities, Inc.) MAA MAA*I Name of each exchange on which registered\nNew York Stock Exchange\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nMid-America Apartment Communities, Inc.\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\nMid-America Apartment Communities, Inc. ☒\nMid-America Apartments, L.P. ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nThe aggregate market value of the 81,749,318 shares of common stock of Mid-America Apartment Communities, Inc. held by non-affiliates was approximately $13.8 billion based\non the closing price of $168.42 as reported on the New York Stock Exchange on June 30, 2021. This calculation excludes shares of common stock held by the registrant’s officers and directors\nand each person known by the registrant to beneficially own more than 5% of the registrant’s outstanding shares, as such persons may be deemed to be affiliates. This determination of affiliate\nstatus should not be deemed conclusive for any other purpose. As of February 14, 2022, there were 115,341,027 shares of Mid-America Apartment Communities, Inc. common stock\noutstanding.\nThere is no public trading market for the partnership units of Mid-America Apartments, L.P. As a result, an aggregate market value of the partnership units of Mid-America\nApartments, L.P. cannot be determined.\nDocuments Incorporated by Reference\nPortions of the proxy statement for the annual shareholders meeting of Mid-America Apartment Communities, I",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_key_financials",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "revenues: 1778082k, net income: 550702k, earnings per common share basic - net income available for MAA common shareholders 4.62",
      "golden_context": "Page 66:\n\nid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2021, 2020 and 2019\n(Dollars in thousands, except per share data)\n2021 2020 2019\nRevenues:\nRental and other property revenues Expenses:\n$ 1,778,082 $ 1,677,984 $ 1,641,017\nOperating expenses, excluding real estate taxes and insurance 404,288 387,966 377,453\nReal estate taxes and insurance 266,877 252,505 235,392\nDepreciation and amortization 533,433 510,842 496,843\nTotal property operating expenses 1,204,598 1,151,313 1,109,688\nProperty management expenses 55,732 52,300 55,011\nGeneral and administrative expenses 52,884 46,858 43,845\nInterest expense 156,881 167,562 179,847\nGain on sale of depreciable real estate assets (220,428) (9) (80,988)\nGain on sale of non-depreciable real estate assets (811) (1,024) (12,047)\nOther non-operating income (33,902) (4,857) (22,999)\nIncome before income tax expense 563,128 265,841 368,660\nIncome tax expense (13,637) (3,327) (3,696)\nIncome from continuing operations before real estate joint venture activity 549,491 262,514 364,964\nIncome from real estate joint venture 1,211 1,501 1,654\nNet income 550,702 264,015 366,618\nNet income attributable to noncontrolling interests 16,911 9,053 12,807\nNet income available for shareholders 533,791 254,962 353,811\nDividends to MAA Series I preferred shareholders 3,688 3,688 3,688\nNet income available for MAA common shareholders $ 530,103 $ 251,274 $ 350,123\nEarnings per common share - basic:\nNet income available for MAA common shareholders $ 4.62 $ 2.20 $ 3.07\nEarnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.61 $ 2.19 $ 3.07\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_revenue",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1778082k",
      "golden_context": "Page 66:\n\nid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2021, 2020 and 2019\n(Dollars in thousands, except per share data)\n2021 2020 2019\nRevenues:\nRental and other property revenues Expenses:\n$ 1,778,082 $ 1,677,984 $ 1,641,017\nOperating expenses, excluding real estate taxes and insurance 404,288 387,966 377,453\nReal estate taxes and insurance 266,877 252,505 235,392\nDepreciation and amortization 533,433 510,842 496,843\nTotal property operating expenses 1,204,598 1,151,313 1,109,688\nProperty management expenses 55,732 52,300 55,011\nGeneral and administrative expenses 52,884 46,858 43,845\nInterest expense 156,881 167,562 179,847\nGain on sale of depreciable real estate assets (220,428) (9) (80,988)\nGain on sale of non-depreciable real estate assets (811) (1,024) (12,047)\nOther non-operating income (33,902) (4,857) (22,999)\nIncome before income tax expense 563,128 265,841 368,660\nIncome tax expense (13,637) (3,327) (3,696)\nIncome from continuing operations before real estate joint venture activity 549,491 262,514 364,964\nIncome from real estate joint venture 1,211 1,501 1,654\nNet income 550,702 264,015 366,618\nNet income attributable to noncontrolling interests 16,911 9,053 12,807\nNet income available for shareholders 533,791 254,962 353,811\nDividends to MAA Series I preferred shareholders 3,688 3,688 3,688\nNet income available for MAA common shareholders $ 530,103 $ 251,274 $ 350,123\nEarnings per common share - basic:\nNet income available for MAA common shareholders $ 4.62 $ 2.20 $ 3.07\nEarnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.61 $ 2.19 $ 3.07\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_revenue_growth",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1778082k, prior year: 1677984k",
      "golden_context": "Page 66:\n\nid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2021, 2020 and 2019\n(Dollars in thousands, except per share data)\n2021 2020 2019\nRevenues:\nRental and other property revenues Expenses:\n$ 1,778,082 $ 1,677,984 $ 1,641,017\nOperating expenses, excluding real estate taxes and insurance 404,288 387,966 377,453\nReal estate taxes and insurance 266,877 252,505 235,392\nDepreciation and amortization 533,433 510,842 496,843\nTotal property operating expenses 1,204,598 1,151,313 1,109,688\nProperty management expenses 55,732 52,300 55,011\nGeneral and administrative expenses 52,884 46,858 43,845\nInterest expense 156,881 167,562 179,847\nGain on sale of depreciable real estate assets (220,428) (9) (80,988)\nGain on sale of non-depreciable real estate assets (811) (1,024) (12,047)\nOther non-operating income (33,902) (4,857) (22,999)\nIncome before income tax expense 563,128 265,841 368,660\nIncome tax expense (13,637) (3,327) (3,696)\nIncome from continuing operations before real estate joint venture activity 549,491 262,514 364,964\nIncome from real estate joint venture 1,211 1,501 1,654\nNet income 550,702 264,015 366,618\nNet income attributable to noncontrolling interests 16,911 9,053 12,807\nNet income available for shareholders 533,791 254,962 353,811\nDividends to MAA Series I preferred shareholders 3,688 3,688 3,688\nNet income available for MAA common shareholders $ 530,103 $ 251,274 $ 350,123\nEarnings per common share - basic:\nNet income available for MAA common shareholders $ 4.62 $ 2.20 $ 3.07\nEarnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.61 $ 2.19 $ 3.07\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000362_segments",
      "report_id": "ID_000362",
      "company_name": "Mid America Apartments",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same Store and Non-Same Store and Other",
      "golden_context": "Page 37:\n\nt limited to, those under the heading “Risk Factors” in this Annual Report on Form 10-K.\nMAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or\nREIT. We own, operate, acquire and selectively develop apartment communities primarily located in the Southeast, Southwest and\nMid-Atlantic regions of the United States. As of December 31, 2021, we owned and operated 290 apartment communities (which does\nnot include development properties under construction) through the Operating Partnership and its subsidiaries, and we had an\nownership interest in one apartment community through an unconsolidated real estate joint venture and had six development\ncommunities under construction. In addition, as of December 31, 2021, 33 of our apartment communities included retail components.\nOur apartment communities, including development communities under construction, were located across 16 states and the District of\nColumbia as of December 31, 2021.\nWe report in two segments, Same Store and Non-Same Store and Other. Our Same Store segment represents those apartment\ncommunities that have been owned and stabilized for at least 12 months as of the first day of the calendar year. Our Non-Same Store\nand Other segment includes recently acquired communities, communities being developed or in lease-up, communities identified for\ndisposition, communities that have incurred a significant casualty loss and stabilized communities that do not meet the requirements to\nbe Same Store communities. Also included in our Non-Same Store and Other segment are non-multifamily activities. Additional\ninformation regarding the composition of our segments is included in Note 13 to the consolidated financial statements included in this\nAnnual Report on Form 10-K.\nOverview\nFor the year ended December 31, 2021, net income available for MAA common shareholders was $530.1 million as\ncompared to $251.3 million for the year ended December 31, 2020. Results for the year ended December 31, 2021 included $221.2\nmillion of gains related to the sale of real estate assets and $40.9 million of gain, net of tax, related to our investments in\nunconsolidated limited partnerships. Results for the year ended December 31, 2020 included $1.0 million of gains related to the sale\nof real estate assets and $4.8 million of gain, net of tax, related to our investments in unconsolidated limited partnerships. Revenues\nfor the year ended December 31, 2021 increased 6.0% as compared to the year ended December 31, 2020, driven by a 5.5% increase\nin our Same Store segment. Property operating expenses, excluding depreciation and amortization, for the year ended December 31,\n2021 increased by 4.8% as compared to the year ended December 31, 2020, driven by a 4.4% increase in our Same Store segment.\nThe primary drivers of these changes are discussed in the “Results of Operations” section.\nTrends\nDuring the year ended December 31, 2021, revenue growth for our Same Store segment continued to be primarily driven by\ngrowth in average effective rent per unit. The average effective rent per unit for our Same Store segment continued to increase from\nthe prior year, up 5.2% for the year ended December 31, 2021 as compared to the year ended December 31, 2020. Average effective\nrent per unit represents the average of gross rent amounts, after the effect of leasing concessions, for occupied apartment units plus\nprevalent market rates asked for unoccupied apartment units, divided by the total number of units. Leasing concessions represent\ndiscounts to the current market rate. We believe average effective rent per unit is a helpful measurement in evaluating average pricing;\nhowever, it does not represent actual rental revenue collected per unit. In addition, for the year ended December 31, 2021, average\nphysical occupancy for our Same Store segment was 96.1%, as compared to 95.6% for the year ended year ended December 31,\n2020. Average physical occupancy is a measurement of the total number of our apartment units that are occupied by residents, and it\nrepresents the average of the daily physical occupancy for the period.\nAn important part of our portfolio strategy is to maintain diversity of markets, submarkets, product types and price points in\nthe Southeast, Southwest and Mid-Atlantic regions of the United States. This diversity tends to mitigate exposure to economic issues\nin any one geographic market or area. We believe that a well-balanced portfolio, including both urban and suburban locations, with a\nbroad range of monthly rent price points, will perform well in economic up cycles as well as better weather economic down cycles.\nThrough our investment in 36 defined markets, we are diversified across markets, urban and suburban submarkets, and a variety of\nproduct types and monthly rent price points.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_cash_flow",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1058479k, investing: -405236k, financing: -722770k",
      "golden_context": "Page 64:\n\nMid-America Apartment Communities, Inc.\nConsolidated Statements of Cash Flows\nYears ended December 31, 2022, 2021 and 2020\n(Dollars in thousands)\n2022 2021 2020\nCash flows from operating activities:\nNet income $ 654,776 $ 550,702 $ 264,015\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 544,004 534,415 511,678\nGain on sale of depreciable real estate assets (214,762) (220,428) (9)\nGain on sale of non-depreciable real estate assets (809) (811) (1,024)\nLoss (gain) on embedded derivative in preferred shares 21,107 4,560 (2,562)\nStock compensation expense 18,798 16,665 14,329\nAmortization of debt issuance costs, discounts and premiums 6,064 5,652 4,960\nLoss (gain) on investments 45,357 (51,713) (5,608)\nNet change in operating accounts and other operating activities (16,056) 55,925 38,170\nNet cash provided by operating activities 1,058,479 894,967 823,949\nCash flows from investing activities:\nPurchases of real estate and other assets (271,428) (46,028) (56,965)\nCapital improvements and other (296,176) (279,635) (225,506)\nDevelopment costs (172,124) (231,642) (201,435)\nDistributions from real estate joint venture 538 497 349\nContributions to affiliates (13,849) (4,669) (5,349)\nProceeds from real estate asset dispositions 320,491 293,071 2,618\nProceeds from insurance recoveries 27,312 14,820 1,557\nNet cash used in investing activities (405,236) (253,586) (484,731)\nCash flows from financing activities:\nProceeds from revolving credit facility — — 255,000\nRepayments of revolving credit facility — — (255,000)\nNet proceeds from (payments of) commercial paper 20,000 (172,000) 102,000\nProceeds from notes payable — 594,423 447,593\nPrincipal payments on notes payable (126,401) (467,153) (441,108)\nPayment of deferred financing costs (5,516) (5,940) (4,217)\nDistributions to noncontrolling interests (14,927) (15,497) (16,243)\nDividends paid on common shares (539,605) (470,401) (457,355)\nDividends paid on preferred shares (3,688) (3,688) (3,688)\nAcquisition of noncontrolling interests (43,070) — —\nNet change in other financing activities (9,563) (6,142) (1,126)\nNet cash used in financing activities (722,770) (546,398) (374,144)\nNet (decrease) increase in cash, cash equivalents and restricted cash (69,527) 94,983 (34,926)\nCash, cash equivalents and restricted cash, beginning of period 130,598 35,615 70,541\nCash, cash equivalents and restricted cash, end of period $ 61,071 $ 130,598 $ 35,615\nThe following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Consolidated Balance Sheets:\nReconciliation of cash, cash equivalents and restricted cash at period end:\nCash and cash equivalents $ 38,659 $ 54,302 $ 25,198\nRestricted cash 22,412 76,296 10,417\nTotal cash, cash equivalents and restricted cash $ 61,071 $ 130,598 $ 35,615\nSupplemental information:\nInterest paid $ 157,497 $ 158,630 $ 165,098\nIncome taxes paid 3,490 2,543 2,549\nNon-cash transactions:\nConversion of OP Units to shares of common stock $ 2,118 $ 43,292 $ 502\nAccrued construction in progress 16,484 15,123 19,625\nInterest capitalized 8,728 9,720 6,912\nSee accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_company_type",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 10:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to ___________\nCommission File Number 001-12762 (Mid-America Apartment Communities, Inc.)\nCommission File Number 333-190028-01 (Mid-America Apartments, L.P.)\nMID-AMERICA APARTMENT COMMUNITIES, INC.\nMID-AMERICA APARTMENTS, L.P.\n(Exact name of registrant as specified in its charter)\nTennessee (Mid-America Apartment Communities, Inc.) Tennessee (Mid-America Apartments, L.P.) 62-1543816\n(State or other jurisdiction of incorporation or organization) 62-1543819\n(I.R.S. Employer Identification No.)\n6815 Poplar Avenue, Suite 500, Germantown, Tennessee, 38138\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (901) 682-6600\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class\nTrading\nSymbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.) 8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share (Mid-America Apartment Communities, Inc.) MAA MAA*I New York Stock Exchange\nNew York Stock Exchange\nLarge accelerated filer ☒ Mid-America Apartments, L.P.\nAccelerated filer ☐ Securities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for\nsuch shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this\nchapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the\ndefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nMid-America Apartment Communities, Inc.\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting\nstandards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under\nSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\nMid-America Apartment Communities, Inc. ☒\nMid-America Apartments, L.P. ☐\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error\nto previously issued financial statements.\nMid-America Apartment Communities, Inc. ☐\nMid-America Apartments, L.P. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive\nofficers during the relevant recovery period pursuant to §240.10D-1(b).\nMid-America Apartment Communities, Inc. ☐\nMid-America Apartments, L.P. ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nThe aggregate market value of the 79,918,312 shares of common stock of Mid-America Apartment Communities, Inc. held by non-affiliates was approximately $14.0 billion based\non the closing price of $174.67 as reported on the New York Stock Exchange on June 30, 2022. This calculation excludes shares of common stock held by the registrant’s officers and directors\nand each person known by the registrant to beneficially own more than 5% of the registrant’s outstanding shares, as such persons may be deemed to be affiliates. This determination of affiliate\nstatus should not be deemed conclusive for any other purpose. As of February 9, 2023, there were 116,598,821 shares of Mid-America Apartment Communities, Inc. common stock\noutstanding.\nThere is no public trading market for the partnership units of Mid-America Apartments, L.P. As a result, an aggregate market value of the partnership units of Mid-America\nApartments, L.P. cannot be determined.\nDocuments Incorporated by Reference\nPortions of the proxy statement for the annual shareholders meeting of Mid-America Apartment Communities, Inc. to be held on May 16, 2023 are incorporated by reference into\nPart III of this report. We expect to file our proxy statement within 120 days after December 31, 2022.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_key_financials",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 2019866k, net income 654778k, earnings per common unit basic net income available for MAALP common unitholders: 5.49",
      "golden_context": "Page 66:\n\nMid-America Apartments, L.P.\nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021 and 2020\n(Dollars in thousands, except per unit data)\n2022 Revenues:\nRental and other property revenues $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 435,108 Real estate taxes and insurance 288,586 Depreciation and amortization 542,998 Total property operating expenses 1,266,692 Property management expenses 65,463 General and administrative expenses 58,833 Interest expense 154,747 Gain on sale of depreciable real estate assets (214,762) Gain on sale of non-depreciable real estate assets (809) Other non-operating expense (income) 42,713 Income before income tax benefit (expense) 646,989 Income tax benefit (expense) 6,208 Income from continuing operations before real estate joint venture activity 653,197 Income from real estate joint venture 1,579 Net income 654,776 Net loss attributable to noncontrolling interests (293) Net income available for MAALP unitholders 655,069 Distributions to MAALP preferred unitholders 3,688 Net income available for MAALP common unitholders $ 651,381 Earnings per common unit - basic:\nNet income available for MAALP common unitholders $ 5.49 Earnings per common unit - diluted:\nNet income available for MAALP common unitholders $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_revenue",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Revenues: 2019866k",
      "golden_context": "Page 66:\n\nMid-America Apartments, L.P.\nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021 and 2020\n(Dollars in thousands, except per unit data)\n2022 Revenues:\nRental and other property revenues $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 435,108 Real estate taxes and insurance 288,586 Depreciation and amortization 542,998 Total property operating expenses 1,266,692 Property management expenses 65,463 General and administrative expenses 58,833 Interest expense 154,747 Gain on sale of depreciable real estate assets (214,762) Gain on sale of non-depreciable real estate assets (809) Other non-operating expense (income) 42,713 Income before income tax benefit (expense) 646,989 Income tax benefit (expense) 6,208 Income from continuing operations before real estate joint venture activity 653,197 Income from real estate joint venture 1,579 Net income 654,776 Net loss attributable to noncontrolling interests (293) Net income available for MAALP unitholders 655,069 Distributions to MAALP preferred unitholders 3,688 Net income available for MAALP common unitholders $ 651,381 Earnings per common unit - basic:\nNet income available for MAALP common unitholders $ 5.49 Earnings per common unit - diluted:\nNet income available for MAALP common unitholders $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_revenue_growth",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 2019866k, prior year 1778082k",
      "golden_context": "Page 66:\n\nMid-America Apartments, L.P.\nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021 and 2020\n(Dollars in thousands, except per unit data)\n2022 Revenues:\nRental and other property revenues $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 435,108 Real estate taxes and insurance 288,586 Depreciation and amortization 542,998 Total property operating expenses 1,266,692 Property management expenses 65,463 General and administrative expenses 58,833 Interest expense 154,747 Gain on sale of depreciable real estate assets (214,762) Gain on sale of non-depreciable real estate assets (809) Other non-operating expense (income) 42,713 Income before income tax benefit (expense) 646,989 Income tax benefit (expense) 6,208 Income from continuing operations before real estate joint venture activity 653,197 Income from real estate joint venture 1,579 Net income 654,776 Net loss attributable to noncontrolling interests (293) Net income available for MAALP unitholders 655,069 Distributions to MAALP preferred unitholders 3,688 Net income available for MAALP common unitholders $ 651,381 Earnings per common unit - basic:\nNet income available for MAALP common unitholders $ 5.49 Earnings per common unit - diluted:\nNet income available for MAALP common unitholders $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000363_segments",
      "report_id": "ID_000363",
      "company_name": "Mid America Apartments",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same Store and Non-Same Store and Other",
      "golden_context": "Page 38:\n\nagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nThe following discussion analyzes the financial condition and results of operations of both MAA and the Operating\nPartnership, of which MAA is the sole general partner and in which MAA owned a 97.3% interest as of December 31, 2022. MAA\nconducts all of its business through the Operating Partnership and its various subsidiaries. This discussion should be read in\nconjunction with the consolidated financial statements and notes thereto included in this Annual Report on Form 10-K. This\ndiscussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results, performance or\nachievements may differ materially from those expressed or implied by such forward-looking statements as a result of many factors,\nincluding, but not limited to, those under the heading “Risk Factors” in this Annual Report on Form 10-K.\nMAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or\nREIT. We own, operate, acquire and selectively develop apartment communities primarily located in the Southeast, Southwest and\nMid-Atlantic regions of the United States. As of December 31, 2022, we owned and operated 290 apartment communities (which does\nnot include development properties under construction) through the Operating Partnership and its subsidiaries, and had an ownership\ninterest in one apartment community through an unconsolidated real estate joint venture. In addition, as of December 31, 2022, we had\nsix development communities under construction, and 34 of our apartment communities included retail components. Our apartment\ncommunities, including development communities under construction, were located across 16 states and the District of Columbia as of\nDecember 31, 2022.\nWe report in two segments, Same Store and Non-Same Store and Other. Our Same Store segment represents those apartment\ncommunities that have been owned and stabilized for at least 12 months as of the first day of the calendar year. Our Non-Same Store\nand Other segment includes recently acquired communities, communities being developed or in lease-up, communities identified for\ndisposition, communities that have incurred a significant casualty loss and stabilized communities that do not meet the requirements to\nbe Same Store communities. Also included in our Non-Same Store and Other segment are non-multifamily activities and storm related\nexpenses related to hurricanes. Additional information regarding the composition of our segments is included in Note 13 to the\nconsolidated financial statements included in this Annual Report on Form 10-K.\nOverview\nFor the year ended December 31, 2022, net income available for MAA common shareholders was $633.7 million as\ncompared to $530.1 million for the year ended December 31, 2021. Results for the year ended December 31, 2022 included $215.6\nmillion of gain related to the sale of real estate assets and $29.9 million in net casualty gain primarily due to winter storm Uri, partially\noffset by $35.8 million of non-cash loss, net of tax, from investments and $21.1 million of non-cash loss related to the fair value\nadjustment of the embedded derivative in the MAA Series I preferred shares. Results for the year ended December 31, 2021 included\n$221.2 million of gain related to the sale of real estate assets and $40.9 million of non-cash gain, net of tax, from investments.\nRevenues for the year ended December 31, 2022 increased 13.6% as compared to the year ended December 31, 2021, driven by a\n13.5% increase in our Same Store segment. Property operating expenses, excluding depreciation and amortization, for the year ended\nDecember 31, 2022 increased by 7.8% as compared to the year ended December 31, 2021, driven by a 7.6% increase in our Same\nStore segment. The primary drivers of these changes are discussed in the “Results of Operations” section.\nTrends\nDuring the year ended December 31, 2022, revenue Same unit is a helpful measurement in evaluating average pricing;\nper unit.\ngrowth for our growth in average effective rent per unit. The average effective rent per unit the prior year, up 14.6% for the year ended December 31, 2022 as compared rent per unit represents the average of gross rent amounts, after the effect of prevalent market rates asked for unoccupied apartment units, divided by the discounts to the current market rate. We believe average effective rent per however, it does not represent actual rental revenue collected Store segment continued to be primarily driven by\nfor our Same Store segment continued to increase from\nto the year ended December 31, 2021. Average effective\nleasing concessions, for occupied apartment units plus\ntotal number of units. Leasing concessions represent\nFor the year ended December 31, 2022, a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_cash_flow",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1'137'187k, \ninvesting:  -775'262k, \nfinancing:  -367'905k",
      "golden_context": "Page 71:\n\nMid-America Apartment Communities, Inc.\nConsolidated Statements of Cash Flows\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands)\n2023 2022 2021\nCash flows from operating activities:\nNet income $ 567,831 $ 654,776 $ 550,702\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 565,857 544,004 534,415\nLoss (gain) on sale of depreciable real estate assets 62 (214,762) (220,428)\nGain on sale of non-depreciable real estate assets (54) (809) (811)\n(Gain) loss on embedded derivative in preferred shares (18,528) 21,107 4,560\nStock compensation expense 15,699 18,798 16,665\nAmortization of debt issuance costs, discounts and premiums 5,909 6,064 5,652\n(Gain) loss on investments (4,449) 45,357 (51,713)\nNet change in operating accounts and other operating activities 4,860 (16,056) 55,925\nNet cash provided by operating activities 1,137,187 1,058,479 894,967\nCash flows from investing activities:\nPurchases of real estate and other assets (223,453) (271,428) (46,028)\nCapital improvements and other (341,224) (296,176) (279,635)\nDevelopment costs (198,152) (172,124) (231,642)\nDistributions from real estate joint venture 312 538 497\nContributions to affiliates (16,636) (13,849) (4,669)\nProceeds from real estate asset dispositions 2,946 320,491 293,071\nNet proceeds from insurance recoveries 945 27,312 14,820\nNet cash used in investing activities (775,262) (405,236) (253,586)\nCash flows from financing activities:\nNet proceeds from (payments of) commercial paper 475,000 20,000 (172,000)\nProceeds from notes payable — — 594,423\nPrincipal payments on notes payable (353,861) (126,401) (467,153)\nPayment of deferred financing costs (2) (5,516) (5,940)\nDistributions to noncontrolling interests (17,671) (14,927) (15,497)\nDividends paid on common shares (651,717) (539,605) (470,401)\nDividends paid on preferred shares (3,688) (3,688) (3,688)\nProceeds from issuances of common shares 205,070 1,083 645\nAcquisition of noncontrolling interests (15,757) (43,070) —\nNet change in other financing activities (5,279) (10,646) (6,787)\nNet cash used in financing activities (367,905) (722,770) (546,398)\nNet (decrease) increase in cash, cash equivalents and restricted cash (5,980) (69,527) 94,983\nCash, cash equivalents and restricted cash, beginning of period 61,071 130,598 35,615\nCash, cash equivalents and restricted cash, end of period $ 55,091 $ 61,071 $ 130,598\nThe following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Consolidated Balance Sheets:\nReconciliation of cash, cash equivalents and restricted cash at period end:\nCash and cash equivalents $ 41,314 $ 38,659 $ 54,302\nRestricted cash 13,777 22,412 76,296\nTotal cash, cash equivalents and restricted cash $ 55,091 $ 61,071 $ 130,598\nSupplemental information:\nInterest paid $ 157,566 $ 157,497 $ 158,630\nIncome taxes paid 4,002 3,490 2,543\nNon-cash transactions:\nDistributions on common shares/ units declared and accrued $ 176,162 $ 166,103 $ 128,916\nAccrued construction in progress 23,345 16,484 15,123\nInterest capitalized 12,376 8,728 9,720\nConversion of OP Units to shares of common stock 1,092 2,118 43,292",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_company_type",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 11:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from __________ to ___________\nCommission File Number 001-12762 (Mid-America Apartment Communities, Inc.)\nCommission File Number 333-190028-01 (Mid-America Apartments, L.P.)\nMID-AMERICA APARTMENT COMMUNITIES, INC.\nMID-AMERICA APARTMENTS, L.P.\n(Exact name of registrant as specified in its charter)\nTennessee (Mid-America Apartment Communities, Inc.) Tennessee (Mid-America Apartments, L.P.) 62-1543816\n(State or other jurisdiction of incorporation or organization) 62-1543819\n(I.R.S. Employer Identification No.)\n6815 Poplar Avenue, Suite 500, Germantown, Tennessee, 38138\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code: (901) 682-6600\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class\nTrading\nSymbol(s) Name of each exchange on which registered\nCommon Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.) 8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share (Mid-America Apartment Communities, Inc.) MAA MAA*I New York Stock Exchange\nNew York Stock Exchange\nLarge accelerated filer ☒ Mid-America Apartments, L.P.\nAccelerated filer ☐ Securities registered pursuant to Section 12(g) of the Act: None.\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such\nshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during\nthe preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nMid-America Apartment Communities, Inc. Yes ☒ No ☐\nMid-America Apartments, L.P. Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of\n“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nMid-America Apartment Communities, Inc.\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nLarge accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards\nprovided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b)\nof the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\nMid-America Apartment Communities, Inc. ☒\nMid-America Apartments, L.P. ☐\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to\npreviously issued financial statements.\nMid-America Apartment Communities, Inc. ☐\nMid-America Apartments, L.P. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive o_xffff_cers\nduring the relevant recovery period pursuant to §240.10D-1(b).\nMid-America Apartment Communities, Inc. ☐\nMid-America Apartments, L.P. ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\nMid-America Apartment Communities, Inc. Yes ☐ No ☒\nMid-America Apartments, L.P. Yes ☐ No ☒\nThe aggregate market value of the 70,492,194 shares of common stock of Mid-America Apartment Communities, Inc. held by non-affiliates was approximately $10.7 billion based on the\nclosing price of $151.86 as reported on the New York Stock Exchange on June 30, 2023. This calculation excludes shares of common stock held by the registrant’s officers and directors and each person\nknown by the registrant to beneficially own more than 5% of the registrant’s outstanding shares, as such persons may be deemed to be affiliates. This determination of affiliate status should not be\ndeemed conclusive for any other purpose. As of February 6, 2024, there were 116,715,633 shares of Mid-America Apartment Communities, Inc. common stock outstanding.\nThere is no public trading market for the partnership units of Mid-America Apartments, L.P. As a result, an aggregate market value of the partnership units of Mid-America Apartments,\nL.P. cannot be determined.\nDocuments Incorporated by Reference\nPortions of the proxy statement for the annual shareholders meeting of Mid-America Apartment Communities, Inc. to be held on May 21, 2024 are i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_key_financials",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income: 567831k, earnings per common share basic net income available for MAA common sahreholders: 4.71",
      "golden_context": "Page 68:\n\nMid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands, except per share data)\n2023 2022 Revenues:\nRental and other property revenues $ 2,148,468 $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 461,540 435,108 Real estate taxes and insurance 306,601 288,586 Depreciation and amortization 565,063 542,998 Total property operating expenses 1,333,204 1,266,692 Property management expenses 67,784 65,463 General and administrative expenses 58,578 58,833 Interest expense 149,234 154,747 Loss (gain) on sale of depreciable real estate assets 62 (214,762) Gain on sale of non-depreciable real estate assets (54) (809) Other non-operating (income) expense (31,185) 42,713 Income before income tax (expense) benefit 570,845 646,989 Income tax (expense) benefit (4,744) 6,208 Income from continuing operations before real estate joint venture activity 566,101 653,197 Income from real estate joint venture 1,730 1,579 Net income 567,831 654,776 Net income attributable to noncontrolling interests 15,025 17,340 Net income available for shareholders 552,806 637,436 Dividends to MAA Series I preferred shareholders 3,688 3,688 Net income available for MAA common shareholders $ 549,118 $ 633,748 Earnings per common share - basic:\nNet income available for MAA common shareholders $ 4.71 $ 5.49 Earnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.71 $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_revenue",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Revenues: 2148468k",
      "golden_context": "Page 68:\n\nMid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands, except per share data)\n2023 2022 Revenues:\nRental and other property revenues $ 2,148,468 $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 461,540 435,108 Real estate taxes and insurance 306,601 288,586 Depreciation and amortization 565,063 542,998 Total property operating expenses 1,333,204 1,266,692 Property management expenses 67,784 65,463 General and administrative expenses 58,578 58,833 Interest expense 149,234 154,747 Loss (gain) on sale of depreciable real estate assets 62 (214,762) Gain on sale of non-depreciable real estate assets (54) (809) Other non-operating (income) expense (31,185) 42,713 Income before income tax (expense) benefit 570,845 646,989 Income tax (expense) benefit (4,744) 6,208 Income from continuing operations before real estate joint venture activity 566,101 653,197 Income from real estate joint venture 1,730 1,579 Net income 567,831 654,776 Net income attributable to noncontrolling interests 15,025 17,340 Net income available for shareholders 552,806 637,436 Dividends to MAA Series I preferred shareholders 3,688 3,688 Net income available for MAA common shareholders $ 549,118 $ 633,748 Earnings per common share - basic:\nNet income available for MAA common shareholders $ 4.71 $ 5.49 Earnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.71 $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_revenue_growth",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 2148468k, prior year: 2019866k",
      "golden_context": "Page 68:\n\nMid-America Apartment Communities, Inc.\nConsolidated Statements of Operations\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands, except per share data)\n2023 2022 Revenues:\nRental and other property revenues $ 2,148,468 $ 2,019,866 Expenses:\nOperating expenses, excluding real estate taxes and insurance 461,540 435,108 Real estate taxes and insurance 306,601 288,586 Depreciation and amortization 565,063 542,998 Total property operating expenses 1,333,204 1,266,692 Property management expenses 67,784 65,463 General and administrative expenses 58,578 58,833 Interest expense 149,234 154,747 Loss (gain) on sale of depreciable real estate assets 62 (214,762) Gain on sale of non-depreciable real estate assets (54) (809) Other non-operating (income) expense (31,185) 42,713 Income before income tax (expense) benefit 570,845 646,989 Income tax (expense) benefit (4,744) 6,208 Income from continuing operations before real estate joint venture activity 566,101 653,197 Income from real estate joint venture 1,730 1,579 Net income 567,831 654,776 Net income attributable to noncontrolling interests 15,025 17,340 Net income available for shareholders 552,806 637,436 Dividends to MAA Series I preferred shareholders 3,688 3,688 Net income available for MAA common shareholders $ 549,118 $ 633,748 Earnings per common share - basic:\nNet income available for MAA common shareholders $ 4.71 $ 5.49 Earnings per common share - diluted:\nNet income available for MAA common shareholders $ 4.71 $ 5.48 See accompanying notes to consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000364_segments",
      "report_id": "ID_000364",
      "company_name": "Mid America Apartments",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Same Store and Non-Same Store and Other",
      "golden_context": "Page 43:\n\nment’s Discussion and Analysis of Financial Condition and Results of Operations.\nThe following discussion analyzes the financial condition and results of operations of both MAA and the Operating\nPartnership, of which MAA is the sole general partner and in which MAA owned a 97.4% interest as of December 31, 2023. MAA\nconducts all of its business through the Operating Partnership and its various subsidiaries. This discussion should be read in\nconjunction with the consolidated financial statements and notes thereto included in this Annual Report on Form 10-K. This\ndiscussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results, performance or\nachievements may differ materially from those expressed or implied by such forward-looking statements as a result of many factors,\nincluding, but not limited to, those under the heading “Risk Factors” in this Annual Report on Form 10-K.\nMAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or\nREIT. We own, operate, acquire and selectively develop apartment communities primarily located in the Southeast, Southwest and\nMid-Atlantic regions of the U.S. As of December 31, 2023, we owned and operated 290 apartment communities (which does not\ninclude development communities under construction) through the Operating Partnership and its subsidiaries, and had an ownership\ninterest in one apartment community through an unconsolidated real estate joint venture. In addition, as of December 31, 2023, we had\nfive development communities under construction, and 34 of our apartment communities included retail components. Our apartment\ncommunities, including development communities under construction, were located across 16 states and the District of Columbia as of\nDecember 31, 2023.\nWe report in two segments, Same Store and Non-Same Store and Other. Our Same Store segment represents those apartment\ncommunities that have been owned and stabilized for at least 12 months as of the first day of the calendar year. Our Non-Same Store\nand Other segment includes recently acquired communities, communities being developed or in lease-up, communities that have been\ndisposed of or identified for disposition, communities that have incurred a significant casualty loss and stabilized communities that do\nnot meet the requirements to be Same Store communities. Also included in our Non-Same Store and Other segment are non-\nmultifamily activities and storm related expenses related to hurricanes. Additional information regarding the composition of our\nsegments is included in Note 13 to the consolidated financial statements included in this Annual Report on Form 10-K.\nOverview\nFor the year ended December 31, 2023, net income available for MAA common shareholders was $549.1 million as\ncompared to $633.7 million for the year ended December 31, 2022. Results for the year ended December 31, 2023 included $18.5\nmillion of non-cash gain related to the fair value adjustment of the embedded derivative in the MAA Series I preferred shares and $3.5\nmillion of non-cash gain, net of tax, from investments. Results for the year ended December 31, 2022 included $215.6 million of gain\nrelated to the sale of real estate assets and $29.9 million in net casualty gain primarily due to winter storm Uri, partially offset by\n$35.8 million of non-cash loss, net of tax, from investments and $21.1 million of non-cash loss related to the fair value adjustment of\nthe embedded derivative in the MAA Series I preferred shares. Revenues for the year ended December 31, 2023 increased 6.4% as\ncompared to the year ended December 31, 2022, driven by a 6.2% increase in our Same Store segment. Property operating expenses,\nexcluding depreciation and amortization, for the year ended December 31, 2023 increased by 6.1% as compared to the year ended\nDecember 31, 2022, driven by a 6.5% increase in our Same Store segment. The primary drivers of these changes are discussed in the\n“Results of Operations” section.\nTrends\nDuring the our Same continued to be primarily driven by\nunit is average pricing;\nStore year ended December 31, 2023, revenue growth for growth in average effective ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_cash_flow",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 555226k, investing: -135992k, financing: -322711k",
      "golden_context": "Page 45:\n\nSummary of Cash Flows\nThe table below, for the periods indicated, provides selected cash flow information:\nYears ended August 31,\n(in thousands) 2021 2020 $ Change % Change\nNet cash provided by operating activities $ 555,226 $ 505,840 $ 49,386 9.8 %\nNet cash used in investing activities (135,992) (73,632) (62,360) 84.7 %\nNet cash used in financing activities (322,711) (218,075) (104,636) 48.0 %\nEffect of exchange rate changes on cash and cash equivalents (263) 11,673 (11,936) (102.3)%\nNet increase in cash and cash equivalents $ 96,260 $ 225,806 $ (129,546) (57.4)%\nCash and cash equivalents aggregated to $681.9 million as of August 31, 2021, compared with $585.6 million as of August 31, 2020. Our cash and cash\nequivalents increased $96.3 million during the twelve months ended August 31, 2021, primarily due to inflows of $555.2 million from net cash provided by\noperating activities and $64.2 million in proceeds from the exercise of employee stock options, partially offset by cash outflows of $264.7 million in share\nrepurchases, $117.9 million in dividend payments, $58.1 million for the acquisition of businesses and $61.3 million of capital expenditures.\nOur cash and cash equivalents are held in numerous locations throughout the world, with $266.9 million within the Americas, $369.3 million within EMEA\n(predominantly within the UK, Germany, and France) and the remaining $45.8 million within Asia Pacific (predominantly within the Philippines and India)\nas of August 31, 2021. We intend to reinvest substantially all of our accumulated undistributed foreign earnings, except in instances where repatriation\nwould result in minimal additional tax. As a result of the U.S. Tax Cuts and Jobs Act (\"TCJA\"), we believe that the income tax impact if such earnings\nwere repatriated would be minimal.\nOperating\nFor fiscal 2021, net cash provided by operating activities was $555.2 million compared with $505.8 million for fiscal 2020, an increase of $49.4 million.\nThis increase was primarily driven by higher net income and the timing of tax payments in certain jurisdictions, partially offset by certain working capital\nchanges, inclusive of increases in variable compensation accruals.\nInvesting\nFor fiscal 2021, net cash used in investing activities was $136.0 million, representing a $62.4 million increase from the prior year. This increase was\nmainly due to the acquisition of businesses, primarily related to the acquisition of TVL for approximately $41.9 million in cash, net of cash acquired, and a\n$16.3 million decrease in capital expenditures.\nFinancing\nFor fiscal 2021, net cash used by financing activities was $322.7 million, representing a $104.6 million increase in cash outflows compared with the prior\nyear. Financing activities were impacted by a $65.1 million increase in share repurchases, a $31.3 million decrease in proceeds from employee stock\nplans, and an increase of $7.5 million in dividend payments.\nFree Cash Flow\nWe define free cash flow, a non-GAAP financial measure, as cash provided by operating activities less purchases of property, equipment, leasehold\nimprovements and capitalized internal use software. We present free cash flow solely as a supplemental disclosure to provide useful information to\ninvestors about the amount of cash generated by the business after necessary capital expenditures. We consider free cash flow to be a liquidity measure\nthat provides useful information to management and investors about the amount of cash generated by the business after necessary capital expenditures.\nThe following table reconciles our net ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_company_type",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 2:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nForm 10-K\n☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended August 31, 2021\n☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\nCommission File Number: 1-11869\nFACTSET RESEARCH SYSTEMS INC.\n(Exact name of Registrant as specified in its charter)\nDelaware 13-3362547\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n45 Glover Avenue, Norwalk, Connecticut 06850\n(Address of principal executive office, including zip code)\nRegistrant’s telephone number, including area code: (203) 810-1000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.01 Par Value Trading Symbols(s) Name of each exchange on which registered\nFDS New York Stock Exchange\nNASDAQ Global Select Market\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes x No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes o No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes x No o\nIndicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit\nsuch files). Yes x No o\nIndicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will\nnot be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K\nor any amendment to this Form 10-K. o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nemerging growth company. See the definitions of \"large accelerated filer,\n\" \"accelerated filer,\n\" \"smaller reporting company\" and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new\nor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. x\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No x\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant based upon the closing price of a share of the\nregistrant’s common stock on February 26, 2021, the last business day of the registrant’s most recently completed second fiscal quarter, as reported by\nthe New York Stock Exchange on that date, was $11,494,529,303.\nAs of October 15, 2021, there were 37,640,632 shares of the registrant's common stock outstanding.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_key_financials",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "revenue 1591445k, operating income: 474041k, net income: 399590k, diluted EPS 10.36",
      "golden_context": "Page 37:\n\nf Contents\nemployee headcount at August 31, 2021, 7,080 were located in Asia Pacific, 2,439 were located in the Americas and 1,373 were located in EMEA.\nResults of Operations\nFor an understanding of the significant factors that influenced our performance during fiscal 2021 and 2020, the following discussion should be read in\nconjunction with the Consolidated Financial Statements and related Notes included in Item 8. of this Annual Report on Form 10-K.\nThe following table summarizes the results of operations for the periods described:\nYears ended August 31,\n(in thousands, except per share data) 2021 2020 $ Change % Change\nRevenue $ 1,591,445 $ 1,494,111 $ 97,334 6.5 %\nCost of services $ 786,400 $ 695,446 $ 90,954 13.1 %\nSelling, general and administrative $ 331,004 $ 359,005 $ (28,001) (7.8) %\nOperating income $ 474,041 $ 439,660 $ 34,381 7.8 %\nNet income $ 399,590 $ 372,938 $ 26,652 7.1 %\nDiluted earnings per common share $ 10.36 $ 9.65 $ 0.71 7.4 %\nDiluted weighted average common shares 38,570 38,646\nRevenue\nRevenue increased 6.5% to $1.6 billion in fiscal 2021, compared with $1.5 billion from the same period in the prior year. The increase in revenue was\nlargely attributed to increased sales to existing clients, followed by new client sales and existing client price increases, partially offset by existing client\ncancellations. Revenue increased across all our segments, primarily from the Americas, followed by EMEA and Asia Pacific, driven by increased revenue\nin all our workflow solutions, mainly in Analytics & Trading, CTS, and Research, compared with the prior year. Organic revenue increased to $1.6 billion\nfor the fiscal year ended 2021, a 6.3% increase over the prior year period. (Refer to Item 7. Results of Operations, Non-GAAP Financial Measures in the\nMD&A of this Annual Report on Form 10-K for further discussion on organic revenue).\nThe revenue growth of 6.5% was composed of organic revenue growth of 6.3%, a 30 basis point increase from foreign currency exchange rate\nfluctuations, partially offset by a 10 basis point decrease from deferred revenue fair value adjustments from purchase accounting and acquisition-related\nrevenue.\nRevenue by Segment\nYears ended August 31,\n(in thousands) 2021 2020 $ Change % Change\nAmericas $ 1,008,046 $ 943,649 $ 64,397 6.8 %\n% of revenue 63.3 % 63.2 %\nEMEA $ 427,700 $ 406,498 $ 21,202 5.2 %\n% of revenue 26.9 % 27.2 %\nAsia Pacific $ 155,699 $ 143,964 $ 11,735 8.2 %\n% of revenue 9.8 % 9.6 %\nConsolidated Revenue $ 1,591,445 $ 1,494,111 $ 97,334 6.5 %\nAmericas revenue increased 6.8% to $1,008.0 million in fiscal 2021, compared with $943.6 million from the same period in the prior year. The increase in\nrevenue was largely attributed to increased sales to existing clients, followed by new client sales and existing client price increases, partially offset by\nexisting client cancellations. This revenue growth was mainly due to increased sales in all of our workflow solutions, primarily in Analytics & Trading and\nCTS. The revenue growth of 6.8% was due to",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_revenue",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "1.6bn",
      "golden_context": "Page 33:\n\neinvest in higher return products.\n• Driving a growth mindset: Recruiting, training and empowering a diverse and operationally efficient workforce to drive sustainable growth. To\ndrive a more performance-based culture, we are investing in talent who can create leading technological solutions, efficiently execute our go-to-\nmarket strategy and achieve our growth targets.\nAt the center of our strategy is the relentless focus on our clients and their FactSet experience. We want to be a trusted partner and service provider,\noffering hyper-personalized digital products for clients to research ideas, uncover relevant insights, and leverage cognitive computing to help get the most\nout of their data and analytics. Additionally, we continually evaluate business opportunities such as acquisitions and partnerships to help us expand our\ncapabilities and competitive differentiators across the investment portfolio lifecycle.\nWe are focused on growing our global business in three segments: the Americas, EMEA and Asia Pacific. We believe this geographical strategic\nalignment helps us better manage our resources, target our solutions and interact with our clients. We further execute on our growth strategy by offering\ndata, products, and analytical applications within our three workflow solutions: Research & Advisory; Analytics & Trading; and CTS.\nFiscal 2021 Year in Review\nRevenue for the fiscal year 2021 was $1.6 billion, an increase of 6.5% from the prior year. Revenue increased across our operating segments, primarily\nin the Americas, followed by EMEA and Asia Pacific, supported by increased revenue from each of our workflow solutions, mainly in Analytics & Trading,\nfollowed by CTS and Wealth. Revenue also grew due to the benefit from our annual price increase. The revenue growth of 6.5% was primarily attributed\nto organic revenue growth, which excludes the effects of acquisitions and dispositions completed in the last 12 months, changes in foreign currency rates\nin all periods presented and the deferred revenue fair value adjustments from purchase accounting (Refer to Results of Operations, Non-GAAP Financial\nMeasures in this MD&A for further discussion on organic revenue).\nOperating income increased 7.8% and diluted earnings per share (\"EPS\") increased 7.4% compared with the prior year. This increase in operating\nincome and EPS was primarily driven by revenue growth of 6.5%, a decrease in non-compensatory employee related expenses, an impairment of an\ninvestment that occurred in fiscal 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_revenue_growth",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "6.5% growth",
      "golden_context": "Page 33:\n\neinvest in higher return products.\n• Driving a growth mindset: Recruiting, training and empowering a diverse and operationally efficient workforce to drive sustainable growth. To\ndrive a more performance-based culture, we are investing in talent who can create leading technological solutions, efficiently execute our go-to-\nmarket strategy and achieve our growth targets.\nAt the center of our strategy is the relentless focus on our clients and their FactSet experience. We want to be a trusted partner and service provider,\noffering hyper-personalized digital products for clients to research ideas, uncover relevant insights, and leverage cognitive computing to help get the most\nout of their data and analytics. Additionally, we continually evaluate business opportunities such as acquisitions and partnerships to help us expand our\ncapabilities and competitive differentiators across the investment portfolio lifecycle.\nWe are focused on growing our global business in three segments: the Americas, EMEA and Asia Pacific. We believe this geographical strategic\nalignment helps us better manage our resources, target our solutions and interact with our clients. We further execute on our growth strategy by offering\ndata, products, and analytical applications within our three workflow solutions: Research & Advisory; Analytics & Trading; and CTS.\nFiscal 2021 Year in Review\nRevenue for the fiscal year 2021 was $1.6 billion, an increase of 6.5% from the prior year. Revenue increased across our operating segments, primarily\nin the Americas, followed by EMEA and Asia Pacific, supported by increased revenue from each of our workflow solutions, mainly in Analytics & Trading,\nfollowed by CTS and Wealth. Revenue also grew due to the benefit from our annual price increase. The revenue growth of 6.5% was primarily attributed\nto organic revenue growth, which excludes the effects of acquisitions and dispositions completed in the last 12 months, changes in foreign currency rates\nin all periods presented and the deferred revenue fair value adjustments from purchase accounting (Refer to Results of Operations, Non-GAAP Financial\nMeasures in this MD&A for further discussion on organic revenue).\nOperating income increased 7.8% and diluted earnings per share (\"EPS\") increased 7.4% compared with the prior year. This increase in operating\nincome and EPS was primarily driven by revenue growth of 6.5%, a decrease in non-compensatory employee related expenses, an impairment of an\ninvestment that occurred in fiscal 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000365_segments",
      "report_id": "ID_000365",
      "company_name": "Factset",
      "year": 2021,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Americas, EMEA and Asia Pacific",
      "golden_context": "Page 7:\n\ng investment research, portfolio construction and analysis, trade execution, performance measurement, risk management,\nand reporting across the investment lifecycle.\nWe provide financial data and market intelligence on securities, companies and industries to enable our clients to research investment ideas, as well as\noffering them the capabilities to analyze, monitor and manage their portfolios. We combine dedicated client service with open and flexible technology\nofferings, such as a configurable desktop and mobile platform, comprehensive data feeds, cloud-based digital solutions, and application programming\ninterfaces (\"APIs\"). Our revenue is primarily derived from subscriptions to our products and services such as workstations, portfolio analytics, and market\ndata.\nWe advance our industry by comprehensively understanding our clients’ workflows, solving their most complex challenges, and helping them achieve\ntheir goals. By providing them with the leading open content and analytics platform, an expansive universe of concorded data they can trust, next-\ngeneration workflow support designed to help them grow and see their next best action, and the industry’s most committed service specialists, FactSet\nputs our clients in a position to outperform.\nWe are focused on growing our business through three reportable segments (\"segments\"): the Americas, EMEA and Asia Pacific. Refer to Note 19,\nSegment Information, in the Notes to the Consolidated Financial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for further\ndiscussion. Within each of our segments, we primarily deliver insight and information through our three workflow solutions: Research & Advisory;\nAnalytics & Trading; and Content & Technology (\"CTS\").\nCorporate History\nFactSet was founded in 1978 and has been publicly traded since June 1996. We are dual listed on the New York Stock Exchange (\"NYSE\") and the\nNASDAQ Stock Market (\"NASDAQ\") under the symbol \"FDS\"\n. Fiscal 2021 marked our 43rd year of operations and, while much has changed in both\nmarkets and technology, our focus has always been to provide best-in-class products and exceptional client service.\nBusiness Strategy\nClient needs and market dynamics continue to evolve at an accelerated pace with an increasing demand for differentiated, personalized, and connected\ndata, an ongoing shift to multi-asset class investing, and cost rationalization, as the shift from active to passive investing continues. Clients are seeking\nnew cloud-based solutions that enable self-service and automation, open and flexible systems, and increased efficiencies when integrating and managing\ndata as part of their own broader digital transformations.\nFactSet’s strategy focuses on building the leading open content and analytics platform that delivers differentiated advantages for our clients’ success – in\nkeeping with our purpose of enabling the investment community to see more, think bigger and do their best work. We want to be the trusted partner of\nchoice for clients, to anticipate their needs and provide them with the most innovative solutions to make them more efficient. This includes transforming\nthe way our clients discover, decide, and act on an opportunity using our digital platform; purposefully increasing our pace and speed to market by\nstreamlining how we work; and investing in our future workforce. To execute on our strategy, we plan on the following:\n• Growing our digital platform: Scaling up our content refinery by providing the most comprehensive and connected inventory of industry,\nproprietary, and third-party data for the financial community, including granular data for key industry verticals, private companies, wealth, and\nenvironmental social a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_cash_flow",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operations: 645573k, investing: -95393k, financing: -632024k",
      "golden_context": "Page 48:\n\nata and, to a lesser extent, third-party software providers. Hosting services support our hybrid cloud strategy, the majority of\nwhich rely on third-party hosting providers. Data is an integral component of the value we provide to our clients, and our\ncommitments to third-party software providers mainly include internal-use software licenses.\nWe also have contractual obligations related to our lease liabilities and outstanding debt. Refer to Note 11, Leases and Note 12,\nDebt in the Notes to the Consolidated Financial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for\ninformation regarding lease commitments and outstanding debt obligations, respectively.\nSummary of Cash Flows\nAs of August 31, 2023, Cash and cash equivalents were $425.4 million, compared with $503.3 million as of August 31, 2022.\nOur cash and cash equivalents are held in numerous locations throughout the world, with $165.4 million in the Americas,\n$148.4 million in EMEA (predominantly in the UK) and the remaining $111.6 million in Asia Pacific (predominantly in India\nand the Philippines) as of August 31, 2023. As of August 31, 2023, we had approximately $204.0 million of undistributed\nforeign earnings. We permanently reinvest all foreign undistributed earnings, except in jurisdictions where earnings can be\nrepatriated substantially free of tax. It is not practicable to determine the deferred tax liability that would be payable if these\nearnings were repatriated to the U.S.\nThe table below provides selected cash flow information:\nYears ended August 31,\n(dollar amounts in thousands) 2023 2022 $ Change % Change\nNet cash provided by operating activities $ 645,573 $ 538,277 $ 107,296 19.9 %\nNet cash provided by (used in) investing activities (95,393) (2,033,675) 1,938,282 (95.3) %\nNet cash provided by (used in) financing activities (632,024) 1,339,234 (1,971,258) (147.2) %\nEffect of exchange rate changes on cash and cash equivalents 4,015 (22,428) 26,443 (117.9) %\nNet increase (decrease) in cash and cash equivalents $ (77,829) $ (178,592) $ 100,763 (56.4) %\nOperating\nFor fiscal 2023, net cash provided by operating activities was $645.6 million, which included net income of $468.2 million,\nnon-cash charges of $194.6 million and a net cash outflow of $17.2 million to support working capital requirements. The non-\ncash charges were primarily driven by $105.4 million of depreciation and amortization, $62.0 million of stock-based\ncompensation expense and $32.3 million from amortization of lease ROU assets, partially offset by $31.1 million in deferred\nincome taxes. The net cash outflow in working capital was primarily due to an increase in accounts receivable driven by sales\nand the timing of client payments and cash outflows for lease payments, partially offset by an increase in net taxes payable due\nto an out-of-period adjustment related to an ongoing review and analysis of certain tax positions and timing of tax payments in\ncertain jurisdictions.\nFor fiscal 2022, net cash provided by operating activities was $538.3 million, which included net income of $396.9 million,\nnon-cash charges of $241.3 million and net cash outflow of $99.9 million to support working capital requirements. The non-\ncash charges were primarily driven by $86.7 million of depreciation and amortization, $64.3 million in asset impairment\ncharges, $56.0 million of stock-based compensation expense and $43.0 million from amortization of lease ROU assets. The net\ncash outflow in working capital was primarily driven by cash outflows for lease payments and an increase in accounts\nreceivable driven by sales and the timing of client payments.\nInvesting\nFor fiscal 2023, net cash used in investing activities was $95.4 mi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_company_type",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended August 31, 2023\n☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from to\nCommission File Number: 1-11869\nFACTSET RESEARCH SYSTEMS INC.\n(Exact name of registrant as specified in its charter)\nDelaware 13-3362547\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n45 Glover Avenue, Norwalk, Connecticut 06850\n(Address of principal executive offices, including zip code)\nRegistrant’s telephone number, including area code: (203) 810-1000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbols(s) Name of each exchange on which registered\nCommon Stock, $0.01 Par Value FDS New York Stock Exchange LLC\nThe Nasdaq Stock Market\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes x No o\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes o No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the\nregistrant was required to submit such files). Yes x No o\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or emerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller\nreporting company\" and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_key_financials",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "net income 468.2m, 2.1bn revenues",
      "golden_context": "Page 35:\nFiscal 2023 in Review\nRevenues for fiscal 2023 were $2.1 billion, an increase of 13.1% from the prior year. Revenues increased in all our segments,\nprimarily in the Americas, and, to a lesser extent, EMEA and Asia Pacific. This increase in revenues was supported by higher\nsales in each of our workflow solutions, primarily in CTS (driven by inorganic revenues from CGS), followed by Analytics &\nTrading and Research & Advisory. Organic revenues contributed to 8.2% of our growth during fiscal 2023, compared with the\nprior year. Refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,\nNon-GAAP Financial Measures, of this Annual Report on Form 10-K for a reconciliation between revenues and organic\nrevenues.\nAs of August 31, 2023, organic annual subscription value (\"Organic ASV\") plus Professional Services totaled $2.2 billion, an\nincrease of 7.1% over the prior year. Organic ASV increased in all our segments, with the majority of the increase related to the\nAmericas and, to a lesser extent, EMEA and Asia Pacific. This increase was driven by additional sales in our workflow\nsolutions, primarily in Analytics & Trading, followed by CTS and Research & Advisory. Refer to Part II, Item 7. Management's\nDiscussion and Analysis of Financial Condition and Results of Operations, Annual Subscription Value, of this Annual Report\non Form 10-K for the definitions of Organic ASV and Organic ASV plus Professional Services.\nOperating income for fiscal 2023 was $629.2 million, an increase of 32.3% compared with the prior year. Operating margin\nincreased in fiscal 2023 to 30.2%, compared with 25.8% for fiscal 2022. Operating margin increased primarily due to growth in\nrevenues and, when expressed as a percentage of revenues, a decrease in asset impairment charges, employee compensation\ncosts, professional fees, data costs and occupancy costs, partially offset by higher royalty fees and amortization of intangible\nassets.\nNet income for fiscal 2023 was $468.2 million, an increase of 18.0% from the prior year. Diluted earnings per common share\n(\"Diluted EPS\") increased 17.5% compared with the prior year. This increase in net income and Diluted EPS was primarily due\nto higher operating income, partially offset by an increase in the provision for income taxes and an increase in interest expense\nas a result of higher outstanding debt compared to the prior year.\nOur clients and users reached new highs of 7,921 and 189,972, respectively, in fiscal 2023. We returned $315.3 million to\nstockholders in the form of share repurchases and dividends paid during fiscal 2023.\nAs of August 31, 2023, our employee count was 12,237, up 9.2% compared to the prior year, due to an increase in net new\nemployees of 12.4% in Asia Pacific, 3.6% in the Americas and 1.9% in EMEA.\nWe garnered multiple awards in fiscal 2023, with honors noted for research, risk, performance, trading and wealth management.\nFactSet was honored by more than thirty industry awards and rankings reports, including winning “Trading Tech’s Best Cloud-\nBased Market Data Delivery Solution.”\nCUSIP Global Services Acquisition\nOn March 1, 2022, we completed our acquisition of CGS for a cash price of $1.932 billion, inclusive of working capital\nadjustments. We acquired CGS to expand our critical role in the global capital markets. Revenues from CGS are recognized\nbased on geographic business activities in accordance with how our operating segments are currently aligned. During fiscal\n2023, CGS functioned as part of the CTS workflow solution.\nThe purchase price for the CGS acquisition was financed from the net proceeds of the issuance of the Senior Notes and\nborrowings under the 2022 Credit Facilities. Refer to Note 6, Acquisitions and Note 12, Debt in the Notes to the Consolidated\nFinancial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for more information on these defined\nterms as well as our acquisition of CGS, the Senior Notes and the ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_revenue",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "2.1bn",
      "golden_context": "Page 35:\nFiscal 2023 in Review\nRevenues for fiscal 2023 were $2.1 billion, an increase of 13.1% from the prior year. Revenues increased in all our segments,\nprimarily in the Americas, and, to a lesser extent, EMEA and Asia Pacific. This increase in revenues was supported by higher\nsales in each of our workflow solutions, primarily in CTS (driven by inorganic revenues from CGS), followed by Analytics &\nTrading and Research & Advisory. Organic revenues contributed to 8.2% of our growth during fiscal 2023, compared with the\nprior year. Refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,\nNon-GAAP Financial Measures, of this Annual Report on Form 10-K for a reconciliation between revenues and organic\nrevenues.\nAs of August 31, 2023, organic annual subscription value (\"Organic ASV\") plus Professional Services totaled $2.2 billion, an\nincrease of 7.1% over the prior year. Organic ASV increased in all our segments, with the majority of the increase related to the\nAmericas and, to a lesser extent, EMEA and Asia Pacific. This increase was driven by additional sales in our workflow\nsolutions, primarily in Analytics & Trading, followed by CTS and Research & Advisory. Refer to Part II, Item 7. Management's\nDiscussion and Analysis of Financial Condition and Results of Operations, Annual Subscription Value, of this Annual Report\non Form 10-K for the definitions of Organic ASV and Organic ASV plus Professional Services.\nOperating income for fiscal 2023 was $629.2 million, an increase of 32.3% compared with the prior year. Operating margin\nincreased in fiscal 2023 to 30.2%, compared with 25.8% for fiscal 2022. Operating margin increased primarily due to growth in\nrevenues and, when expressed as a percentage of revenues, a decrease in asset impairment charges, employee compensation\ncosts, professional fees, data costs and occupancy costs, partially offset by higher royalty fees and amortization of intangible\nassets.\nNet income for fiscal 2023 was $468.2 million, an increase of 18.0% from the prior year. Diluted earnings per common share\n(\"Diluted EPS\") increased 17.5% compared with the prior year. This increase in net income and Diluted EPS was primarily due\nto higher operating income, partially offset by an increase in the provision for income taxes and an increase in interest expense\nas a result of higher outstanding debt compared to the prior year.\nOur clients and users reached new highs of 7,921 and 189,972, respectively, in fiscal 2023. We returned $315.3 million to\nstockholders in the form of share repurchases and dividends paid during fiscal 2023.\nAs of August 31, 2023, our employee count was 12,237, up 9.2% compared to the prior year, due to an increase in net new\nemployees of 12.4% in Asia Pacific, 3.6% in the Americas and 1.9% in EMEA.\nWe garnered multiple awards in fiscal 2023, with honors noted for research, risk, performance, trading and wealth management.\nFactSet was honored by more than thirty industry awards and rankings reports, including winning “Trading Tech’s Best Cloud-\nBased Market Data Delivery Solution.”\nCUSIP Global Services Acquisition\nOn March 1, 2022, we completed our acquisition of CGS for a cash price of $1.932 billion, inclusive of working capital\nadjustments. We acquired CGS to expand our critical role in the global capital markets. Revenues from CGS are recognized\nbased on geographic business activities in accordance with how our operating segments are currently aligned. During fiscal\n2023, CGS functioned as part of the CTS workflow solution.\nThe purchase price for the CGS acquisition was financed from the net proceeds of the issuance of the Senior Notes and\nborrowings under the 2022 Credit Facilities. Refer to Note 6, Acquisitions and Note 12, Debt in the Notes to the Consolidated\nFinancial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for more information on these defined\nterms as well as our acquisition of CGS, the Senior Notes and the ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_revenue_growth",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "13.1% growth",
      "golden_context": "Page 35:\nFiscal 2023 in Review\nRevenues for fiscal 2023 were $2.1 billion, an increase of 13.1% from the prior year. Revenues increased in all our segments,\nprimarily in the Americas, and, to a lesser extent, EMEA and Asia Pacific. This increase in revenues was supported by higher\nsales in each of our workflow solutions, primarily in CTS (driven by inorganic revenues from CGS), followed by Analytics &\nTrading and Research & Advisory. Organic revenues contributed to 8.2% of our growth during fiscal 2023, compared with the\nprior year. Refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,\nNon-GAAP Financial Measures, of this Annual Report on Form 10-K for a reconciliation between revenues and organic\nrevenues.\nAs of August 31, 2023, organic annual subscription value (\"Organic ASV\") plus Professional Services totaled $2.2 billion, an\nincrease of 7.1% over the prior year. Organic ASV increased in all our segments, with the majority of the increase related to the\nAmericas and, to a lesser extent, EMEA and Asia Pacific. This increase was driven by additional sales in our workflow\nsolutions, primarily in Analytics & Trading, followed by CTS and Research & Advisory. Refer to Part II, Item 7. Management's\nDiscussion and Analysis of Financial Condition and Results of Operations, Annual Subscription Value, of this Annual Report\non Form 10-K for the definitions of Organic ASV and Organic ASV plus Professional Services.\nOperating income for fiscal 2023 was $629.2 million, an increase of 32.3% compared with the prior year. Operating margin\nincreased in fiscal 2023 to 30.2%, compared with 25.8% for fiscal 2022. Operating margin increased primarily due to growth in\nrevenues and, when expressed as a percentage of revenues, a decrease in asset impairment charges, employee compensation\ncosts, professional fees, data costs and occupancy costs, partially offset by higher royalty fees and amortization of intangible\nassets.\nNet income for fiscal 2023 was $468.2 million, an increase of 18.0% from the prior year. Diluted earnings per common share\n(\"Diluted EPS\") increased 17.5% compared with the prior year. This increase in net income and Diluted EPS was primarily due\nto higher operating income, partially offset by an increase in the provision for income taxes and an increase in interest expense\nas a result of higher outstanding debt compared to the prior year.\nOur clients and users reached new highs of 7,921 and 189,972, respectively, in fiscal 2023. We returned $315.3 million to\nstockholders in the form of share repurchases and dividends paid during fiscal 2023.\nAs of August 31, 2023, our employee count was 12,237, up 9.2% compared to the prior year, due to an increase in net new\nemployees of 12.4% in Asia Pacific, 3.6% in the Americas and 1.9% in EMEA.\nWe garnered multiple awards in fiscal 2023, with honors noted for research, risk, performance, trading and wealth management.\nFactSet was honored by more than thirty industry awards and rankings reports, including winning “Trading Tech’s Best Cloud-\nBased Market Data Delivery Solution.”\nCUSIP Global Services Acquisition\nOn March 1, 2022, we completed our acquisition of CGS for a cash price of $1.932 billion, inclusive of working capital\nadjustments. We acquired CGS to expand our critical role in the global capital markets. Revenues from CGS are recognized\nbased on geographic business activities in accordance with how our operating segments are currently aligned. During fiscal\n2023, CGS functioned as part of the CTS workflow solution.\nThe purchase price for the CGS acquisition was financed from the net proceeds of the issuance of the Senior Notes and\nborrowings under the 2022 Credit Facilities. Refer to Note 6, Acquisitions and Note 12, Debt in the Notes to the Consolidated\nFinancial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for more information on these defined\nterms as well as our acquisition of CGS, the Senior Notes and the ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000367_segments",
      "report_id": "ID_000367",
      "company_name": "Factset",
      "year": 2023,
      "country": "US",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Americas, EMEA and Asia Pacific",
      "golden_context": "Page 9:\n\ness based on our detailed understanding of our clients’ workflows, which helps us to solve their most\ncomplex challenges. We provide financial data and market intelligence on securities, companies, industries and people to enable\nour clients to research investment ideas, as well as to analyze, monitor and manage their portfolios. Our on- and off-platform\nsolutions span the investment life cycle of investment research, portfolio construction and analysis, trade execution,\nperformance measurement, risk management and reporting. We provide open and flexible technology offerings, including a\nconfigurable desktop and mobile platform, comprehensive data feeds, cloud-based digital solutions and application\nprogramming interfaces (\"APIs\"). Our CUSIP Global Services (\"CGS\") business supports security master files relied on by the\ninvestment industry for critical front, middle and back-office functions. Our platform and solutions are supported by our\ndedicated client service team.\nWe operate our business through three reportable segments (\"segments\"): the Americas, EMEA and Asia Pacific. Refer to Note\n18, Segment Information, in the Notes to the Consolidated Financial Statements included in Part II, Item 8. of this Annual\nReport on Form 10-K for further discussion. For each of our segments, we execute our strategy through three workflow\nsolutions: Research & Advisory; Analytics & Trading; and Content & Technology Solutions (\"CTS\"). CGS operates as part of\nCTS.\nCorporate History\nFactSet was founded in 1978 and has been publicly traded since June 1996. We are dual-listed on the New York Stock\nExchange (\"NYSE\") and the NASDAQ Stock Market (\"NASDAQ\") under the symbol \"FDS\". FactSet has been a member of\nthe S&P 500 since December 2021.\nBusiness Strategy\nOur strategy is to build the leading open content and analytics platform and powerful enterprise solutions that deliver a\ndifferentiated advantage for our clients’ success. By offering personalized digital products, we strive to be a trusted partner and\nservice provider, delivering relevant insights and research ideas tailored to our clients' specific business models.\nTo execute our strategy, we have outlined the following key initiatives:\n• Expanding our Digital Platform: We are scaling up our content refinery to provide a comprehensive inventory of\nindustry, proprietary and third-party data. This includes granular data for key industry verticals, real-time data, fund\ndata and sustainable finance. Through an open ecosystem of cloud-based data and analytics, we aim to offer flexible\nsolutions and content accessible through various delivery methods. In addition, we are working to expand our use of\nartificial intelligence to drive efficiencies for our clients, with anticipated initiatives including automation of tasks and\nintegration of natural language queries. We believe that our breadth of high-quality, connected content will be a critical\nraw material for large language models.\n• Ensuring Execution Excellence: Innovation and collaboration are at the core of our approach. We employ technology\nto accelerate content collection, data connectivity and the development of summaries and themes. Our sales force is\ncommitted to enhancing price realization, productivity, efficiency and improved client outcomes. We are also\noptimizing operations and managing expenses to improve returns on our investments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_cash_flow",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3631m, investing: -1864m, financing: -1892m",
      "golden_context": "Page 52:\n\nebt and Access to Liquidity\nTotal debt as a percent of total capitalization (excluding noncontrolling interests) decreased to 48% at June 30, 2021 from 61%\nat June 30, 2020, primarily due to the increase in total equity reflecting an increase in net earnings, partially offset by a higher\ntreasury stock balance. Also contributing to the decrease was a decrease in total debt, primarily due to the fiscal 2021\nrepayments of the $750 million outstanding under our $1,500 million revolving credit facility and the $450 million aggregate\nprincipal amount of our 1.70% Senior Notes due May 10, 2021, partially offset by the March 2021 issuance of $600 million\naggregate principal amount of our 1.950% Senior Notes due March 15, 2031.\nFor further information regarding our current and long-term debt and available financing, see Item 8. Financial Statements and\nSupplementary Data – Note 11 – Debt.\nCash Flows\nYear Ended June 30\n(In millions) 2021 2020\nNet cash provided by operating activities $ 3,631 $ 2,280\nNet cash used for investing activities $ (1,864) $ (1,698)\nNet cash provided by (used for) financing activities $ (1,892) $ 1,461\nThe change in net cash flows from operations reflected higher earnings before taxes, excluding non-cash items, as well as the\nimprovement in working capital. The improvement in working capital was primarily due to other accrued liabilities, including\nan increase in accrued employee incentive compensation and the settlement of foreign currency forward contracts, and accounts\npayable, partially offset by the unfavorable change in accounts receivable due primarily to the increase in net sales.\nThe change in net cash flows used for investing activities primarily reflected the settlement of net investment hedges, which is\noffset by the improvement in other accrued liabilities discussed above. Net cash used for investing activities in fiscal 2021 and\nfiscal 2020 included cash paid, net of cash acquired, in connection with the acquisition of additional shares in DECIEM and the\nacquisition of Have & Be, respectively.\nThe change in net cash flows from financing activities primarily reflected lower proceeds relating to the issuance of long-term\ndebt (the November 2019 and April 2020 issuances in fiscal 2020, compared to the March 2021 issuance in fiscal 2021), the\nfiscal 2021 repayment of borrowings under our revolving credit facility, partially offset by lower treasury stock repurchases.\nSee Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Financial Condition of\nthe Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020 for the fiscal 2020 to fiscal 2019\ncomparative discussions.\nDividends\nFor a summary of quarterly cash dividends declared per share on our Class A and Class B Common Stock during the year\nended June 30, 2021 and through August 20, 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_company_type",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-14064\nThe Estée Lauder Companies Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 11-2408943\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n767 Fifth Avenue, New York, New York (Address of principal executive offices) 10153\n(Zip Code)\nRegistrant’s telephone number, including area code 212-572-4200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading\nSymbol(s)\nName of each exchange on which registered\nClass A Common Stock, $.01 par value EL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90\ndays. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange\nAct.\nLarge accelerated filer ☒ Accelerated filer ☐\nNon-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s voting common equity held by non-affiliates of the registrant was approximately $61 billion at December 31, 2020 (the last\nbusiness day of the registrant’s most recently completed second quarter).*\nAt August 20, 2021, 233,045,213 shares of the registrant’s Class A Common Stock, $.01 par value, and 128,242,029 shares of the registrant’s Class B Common Stock, $.01\npar value, were outstanding.\nDocuments Incorporated by Reference\nDocument Where Incorporated\nPart III\n* Calculated by excluding all shares held by executive officers and directors of registrant and certain trusts without conceding that all such persons are\n“affiliates” of registrant for purposes of the Federal securities laws.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_key_financials",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales 16215m, operating income 2618m, net cash provided by operating activities: 3631m",
      "golden_context": "Page 29:\n\ntem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.\nRESULTS OF OPERATIONS\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories,\nwhich are distributed in approximately 150 countries and territories. The following table is a comparative summary of operating\nresults for fiscal 2021, 2020 and 2019 and reflects the basis of presentation described in Item 8. Financial Statements and\nSupplementary Data – Note 2 – Summary of Significant Accounting Policies and Note 22 – Segment Data and Related\nInformation for all periods presented. Products and services that do not meet our definition of skin care, makeup, fragrance and\nhair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2021 2020 2019\nNET SALES\nBy Product Category:\nSkin Care $ 9,484 $ 7,382 $ 6,551\nMakeup 4,203 4,794 5,860\nFragrance 1,926 1,563 1,802\nHair Care 571 515 584\nOther 45 40 69\n16,229 14,294 14,866\nReturns associated with restructuring and other activities (14) — (3)\nNet sales $ 16,215 $ 14,294 $ 14,863\nBy Region(1):\nThe Americas $ 3,797 $ 3,794 $ 4,741\nEurope, the Middle East & Africa 6,946 6,262 6,452\nAsia/Pacific 5,486 4,238 3,673\n16,229 14,294 14,866\nReturns associated with restructuring and other activities (14) — (3)\nNet sales $ 16,215 $ 14,294 $ 14,863\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 3,036 $ 2,125 $ 1,925\nMakeup (384) (1,438) 438\nFragrance 215 17 140\nHair Care (19) (19) 39\nOther (2) 4 12\n2,846 689 2,554\nCharges associated with restructuring and other activities (228) (83) (241)\nOperating income $ 2,618 $ 606 $ 2,313\nBy Region(1):\nThe Americas $ 518 $ (1,044) $ 672\nEurope, the Middle East & Africa 1,335 997 1,153\nAsia/Pacific 993 736 729\n2,846 689 2,554\nCharges associated with restructuring and other activities (228) (83) (241)\nOperating income $ 2,618 $ 606 $ 2,313\n(1) The net sales from our travel retail business are included in the Europe, the Middle East & Africa region, with the exception of the net sales\nof Dr. Jart+ in the travel retail channel that are reflected in Korea in the Asia/Pacific region. Operating inc\n\nof our travel retail business, which are primarily centralized in The Americas region, and resulted in a change to\nthe royalty structure of the travel retail business to reflect the value created in The Americas region. Accordingly, the fiscal\n2019 operating income of The Americas was increased, with a corresponding decrease in Europe, the Middle East & Africa, by\n$866 million, to conform with the fiscal 2021 and 2020 methodology and presentation.\nThe following table presents certain consolidated earnings data as a percentage of net sales:\nYear Ended June 30\n2021 2020 2019\nNet sales 100.0 % 100.0 % 100.0 %\nCost of sales 23.6 24.8 22.8\nGross profit 76.4 75.2 77.2\nOperating expenses:\nSelling, general and administrative 57.8 60.4 59.6\nRestructuring and other charges 1.3 0.5 1.4\nGoodwill impairment 0.3 5.7 0.5\nImpairment of other intangible and long-lived assets 0.8 4.3 0.1\nTotal operating expenses 60.2 70.9 61.6\nOperating income 16.1 4.2 15.6\nInterest expense 1.1 1.1 0.9\nInterest income and investment income, net 0.3 0.3 0.4\nOther components of net periodic benefit cost (0.1) — —\nOther income, net 5.2 3.9 0.4\nEarnings before income taxes 20.5 7.3 15.5\nProvision for income taxes (2.8) (2.4) (3.4)\nNet earnings 17.7 4.9 12.1\nNet earnings attributable to noncontrolling interests (0.1) (0.1) (0.1)\nNet loss attributable to redeemable noncontrolling interest — — —\nNet earnings attributable to The Estée Lauder Companies Inc. 17.7 % 4.8 % 12.0 %\nNot adjusted for differences caused by rounding\nWe continually introduce new products, support new and established products through advertising, merchandising and sampling\nand phase out existing products that no longer meet the needs of our consumers or our objectives. The economics of\ndeveloping, producing, launching, supporting and discontinuing products impact our sales and operating performance each\nperiod. The introduction of new products may have some cannibalizing effect on sales of existing products, which we take into\naccount in our business planning.\nNon-GAAP Financial Measures\nWe use certain non-GAAP financial measures, among other financial measures, to evaluate our operating performance, which\nrepresent the manner in which we conduct and view our business. Management believes that excluding certain items that are\nnot comparable from period to period helps\n\nPage 52:\n\nnd Access to Liquidity\nTotal debt as a percent of total capitalization (excluding noncontrolling interests) decreased to 48% at June 30, 2021 from 61%\nat June 30, 2020, primarily due to the increase in total equity reflecting an increase in net earnings, partially offset by a higher\ntreasury stock balance. Also contributing to the decrease was a decrease in total debt, primarily due to the fiscal 2021\nrepayments of the $750 million outstanding under our $1,500 million revolving credit facility and the $450 million aggregate\nprincipal amount of our 1.70% Senior Notes due May 10, 2021, partially offset by the March 2021 issuance of $600 million\naggregate principal amount of our 1.950% Senior Notes due March 15, 2031.\nFor further information regarding our current and long-term debt and available financing, see Item 8. Financial Statements and\nSupplementary Data – Note 11 – Debt.\nCash Flows\nYear Ended June 30\n(In millions) 2021 2020\nNet cash provided by operating activities $ 3,631 $ 2,280\nNet cash used for investing activities $ (1,864) $ (1,698)\nNet cash provided by (used for) financing activities $ (1,892) $ 1,461\nThe change in net cash flows from operations reflected higher earnings before taxes, excluding non-cash items, as well as the\nimprovement in working capital. The improvement in working capital was primarily due to other accrued liabilities, including\nan increase in accrued employee incentive compensation and the settlement of foreign currency forward contracts, and accounts\npayable, partially offset by the unfavorable change in accounts receivable due primarily to the increase in net sales.\nThe change in net cash flows used for investing activities primarily reflected the settlement of net investment hedges, which is\noffset by the improvement in other accrued liabilities discussed above. Net cash used for investing activities in fiscal 2021 and\nfiscal 2020 included cash paid, net of cash acquired, in connection with the acquisition of additional shares in DECIEM and the\nacquisition of Have & Be, respectively.\nThe change in net cash flows from financing activities primarily reflected lower proceeds relating to the issuance of long-term\ndebt (the November 2019 and April 2020 issuances in fiscal 2020, compared to the March 2021 issuance in fiscal 2021), the\nfiscal 2021 repayment of borrowings under our revolving credit facility, partially offset by lower treasury stock repurchases.\nSee Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Financial Condition of\nthe Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020 for the fiscal 2020 to fiscal 2019\ncomparative discussions.\nDividends\nFor a summary of quarterly cash dividends declared per share on our Class A and Class B Common Stock during the year\nended June 30, 202",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_revenue",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "net sales 16215m",
      "golden_context": "Page 147:\n\nTHE ESTÉE LAUDER COMPANIES INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nYear Ended June 30\n(In millions) 2021 2020 2019\nPRODUCT CATEGORY DATA\nNet sales:\nSkin Care $ 9,484 $ 7,382 $ 6,551\nMakeup 4,203 4,794 5,860\nFragrance 1,926 1,563 1,802\nHair Care 571 515 584\nOther 45 40 69\n16,229 14,294 14,866\nReturns associated with restructuring and other activities (14) — (3)\nNet sales $ 16,215 $ 14,294 $ 14,863\nDepreciation and amortization:\nSkin Care $ 330 $ 268 $ 202\nMakeup 210 242 257\nFragrance 78 71 69\nHair Care 31 28 26\nOther 2 2 3\n$ 651 $ 611 $ 557\nOperating income (loss) before charges associated with restructuring\nand other activities:\nSkin Care $ 3,036 $ 2,125 $ 1,925\nMakeup (384) (1,438) 438\nFragrance 215 17 140\nHair Care (19) (19) 39\nOther (2) 4 12\n2,846 689 2,554\nReconciliation:\nCharges associated with restructuring and other activities (228) (83) (241)\nInterest expense (173) (161) (133)\nInterest income and investment income, net 51 48 58\nOther components of net periodic benefit cost (12) (4) (2)\nOther income, net 847 557 71\nEarnings before income taxes $ 3,331 $ 1,046 $ 2,307",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_revenue_growth",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 16215m, prior year 14294m",
      "golden_context": "Page 147:\n\nTHE ESTÉE LAUDER COMPANIES INC.\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nYear Ended June 30\n(In millions) 2021 2020 2019\nPRODUCT CATEGORY DATA\nNet sales:\nSkin Care $ 9,484 $ 7,382 $ 6,551\nMakeup 4,203 4,794 5,860\nFragrance 1,926 1,563 1,802\nHair Care 571 515 584\nOther 45 40 69\n16,229 14,294 14,866\nReturns associated with restructuring and other activities (14) — (3)\nNet sales $ 16,215 $ 14,294 $ 14,863\nDepreciation and amortization:\nSkin Care $ 330 $ 268 $ 202\nMakeup 210 242 257\nFragrance 78 71 69\nHair Care 31 28 26\nOther 2 2 3\n$ 651 $ 611 $ 557\nOperating income (loss) before charges associated with restructuring\nand other activities:\nSkin Care $ 3,036 $ 2,125 $ 1,925\nMakeup (384) (1,438) 438\nFragrance 215 17 140\nHair Care (19) (19) 39\nOther (2) 4 12\n2,846 689 2,554\nReconciliation:\nCharges associated with restructuring and other activities (228) (83) (241)\nInterest expense (173) (161) (133)\nInterest income and investment income, net 51 48 58\nOther components of net periodic benefit cost (12) (4) (2)\nOther income, net 847 557 71\nEarnings before income taxes $ 3,331 $ 1,046 $ 2,307",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000368_segments",
      "report_id": "ID_000368",
      "company_name": "Estee Lauder",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "One operating segment",
      "golden_context": "Page 146:\n\ncab1e for fiscal 2019 only.\nNOTE 22 – SEGMENT DATA AND RELATED INFORMATION\nReportable operating segments include components of an enterprise about which separate financial information is available that\nis evaluated regularly by the chief operating decision maker (the “Chief Executive”) in deciding how to allocate resources and\nin assessing performance. As a result of the similarities in the manufacturing, marketing and distribution processes for all of the\nCompany’s products, much of the information provided in the consolidated financial statements is similar to, or the same as,\nthat reviewed on a regular basis by the Chief Executive. Although the Company operates in one business segment, beauty\nproducts, management also evaluates performance on a product category basis. While the Company’s results of operations are\nalso reviewed on a consolidated basis, the Chief Executive reviews data segmented on a basis that facilitates comparison to\nindustry statistics. Accordingly, net sales, depreciation and amortization, and operating income are available with respect to the\nmanufacture and distribution of skin care, makeup, fragrance, hair care and other products. These product categories meet the\ndefinition of operating segments and, accordingly, additional financial data are provided below. The “other” segment includes\nthe sales and related results of ancillary products and services that do not fit the definition of skin care, makeup, fragrance and\nhair care. Product category performance is measured based upon net sales before returns associated with restructuring and other\nactivities, and earnings before income taxes, other components of net periodic benefit cost, interest expense, interest income and\ninvestment income, net, other income, net and charges associated with restructuring and other activities. Returns and charges\nassociated with restructuring and other activities are not allocated to the Company's product categories or geographic regions\nbecause they are centrally directed and controlled, are not included in internal measures of product category or geographic\nregion performance and result from activities that are deemed Company-wide initiatives to redesign, resize and reorganize\nselect areas of the business.\nDuring fiscal 2020, changes were made to reflect certain Leading Beauty Forward enhancements made to the capabilities and\ncost structure of the Company’s travel retail business, which are primarily centralized in The Americas region, and resulted in a\nchange to the royalty structure of the travel retail business to reflect the value created in The Americas region. Accordingly, the\nfiscal 2019 operating income of The Americas was",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_cash_flow",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 3040m, investing: -945m, financing: -3036m",
      "golden_context": "Page 57:\n\nthe issuance of long-term debt and committed and uncommitted credit lines provided by banks and other lenders in the United States and abroad. At\nJune 30, 2022, we had cash and cash equivalents of $3,957 million compared with $4,958 million at June 30, 2021. Our cash and cash equivalents are\nmaintained at a number of financial institutions. To mitigate the risk of uninsured balances, we select financial institutions based on their credit ratings and\nfinancial strength, and we perform ongoing evaluations of these institutions to limit our concentration risk exposure.\nBased on past performance and current expectations, we believe that cash on hand, cash generated from operations, available credit lines and access to\ncredit markets will be adequate to support seasonal working capital needs, currently planned business operations, information technology enhancements,\ncapital expenditures, acquisitions, dividends, stock repurchases, restructuring initiatives, commitments and other contractual obligations on both a near-\nterm and long-term basis.\nThe TCJA resulted in the Transition Tax on unrepatriated earnings of our foreign subsidiaries and changed the tax law in ways that present opportunities\nto repatriate cash without additional U.S. federal income tax. As a result, we changed our indefinite reinvestment assertion related to certain foreign\nearnings, and we continue to analyze the indefinite reinvestment assertion on our remaining applicable foreign earnings. We do not believe that continuing\nto reinvest our foreign earnings impairs our ability to meet our domestic debt or working capital obligations. If these reinvested earnings were repatriated\ninto the United States as dividends, we would be subject to state income taxes and applicable foreign taxes in certain jurisdictions.\nThe effects of inflation have not been significant to our overall operating results in recent years, however we are mindful of increasing inflationary\npressures. Generally, we have been able to introduce new products at higher prices, increase prices and implement other operating efficiencies to\nsufficiently offset cost increases.\nCredit Ratings\nChanges in our credit ratings will likely result in changes in our borrowing costs. Our credit ratings also impact the cost of our revolving credit\nfacility. Downgrades in our credit ratings may reduce our ability to issue commercial paper and/or long-term debt and would likely increase the relative\ncosts of borrowing. A credit rating is not a recommendation to buy, sell, or hold securities, is subject to revision or withdrawal at any time by the assigning\nrating organization, and should be evaluated independently of any other rating. As of August 17, 2022, our long-term debt is rated A+ with a stable outlook\nby Standard & Poor’s and A1 with a stable outlook by Moody’s.\nDebt and Access to Liquidity\nTotal debt as a percent of total capitalization (excluding noncontrolling interests) increased to 49% at June 30, 2022 from 48% at June 30, 2021.\nFor further information regarding our current and long-term debt and available financing, see Item 8. Financial Statements and Supplementary Data –\nNote 11 – Debt.\nCash Flows\nYear Ended June 30\n(In millions) 2022 2021\nNet cash provided by operating activities $ 3,040 $ 3,631\nNet cash used for investing activities $ (945) $ (1,864)\nNet cash used for financing activities $ (3,036) $ (1,892)\nThe change in net cash flows provided by operations reflected higher working capital needs to support growth and to mitigate the global supply chain\nchallenges, as well as higher cash paid for taxes, partially offset by higher earnings before taxes, excluding non-cash items.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_company_type",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-14064\nThe Estée Lauder Companies Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 11-2408943\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n767 Fifth Avenue, New York, New York 10153\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code 212-572-4200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading\nName of each exchange on which registered\nClass A Common Stock, $.01 par value Symbol(s)\nEL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nEmerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s voting common equity held by non-affiliates of the registrant was approximately $ 86 billion at December 31, 2021 (the last business day\nof the registrant’s most recently completed second quarter).\n*\nAt August 17, 2022, 231,361,571 shares of the registrant’s Class A Common Stock, $.01 par value, and 125,542,029 shares of the registrant’s Class B Common Stock, $.01 par\nvalue, were outstanding.\nDocuments Incorporated by Reference\nDocument Where Incorporated\nProxy Statement for Annual Meeting of\nStockholders to be held November 18, 2022 Part III\n* Calculated by excluding all shares held by executive officers and directors of registrant and certain trusts without conceding that all such persons are “affiliates” of\nregistrant for purposes of the Federal securities laws.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_key_financials",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "net sales 17737m, operating income: 3170m, operating income 3170m",
      "golden_context": "Page 33:\n\nm 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2022, 2021 and 2020 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2022 2021 2020\nNET SALES\nBy Product Category:\nSkin Care $ 9,886 $ 9,484 $ 7,382\nMakeup 4,667 4,203 4,794\nFragrance 2,508 1,926 1,563\nHair Care 631 571 515\nOther 49 45 40\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\n$ 17,737 $ 16,215 $ 14,294\nNet sales (1)\nBy Region :\nThe Americas $ 4,623 $ 3,797 $ 3,794\nEurope, the Middle East & Africa 7,681 6,946 6,262\nAsia/Pacific 5,437 5,486 4,238\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\nNet sales $ 17,737 $ 16,215 $ 14,294\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 2,753 $ 3,036 $ 2,125\nMakeup 133 (384) (1,438)\nFragrance 456 215 17\nHair Care (28) (19) (19)\nOther — (2) 4\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\n$ 3,170 $ 2,618 $ 606\nOperating income (1)\nBy Region :\nThe Americas $ 1,159 $ 518 $ (1,044)\nEurope, the Middle East & Africa 1,360 1,335 997\nAsia/Pacific 795 993 736\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\nOperating income $ 3,170 $ 2,618 $ 606\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_revenue",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "net sales 17737m, prior year 16215m",
      "golden_context": "Page 33:\n\nm 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2022, 2021 and 2020 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2022 2021 2020\nNET SALES\nBy Product Category:\nSkin Care $ 9,886 $ 9,484 $ 7,382\nMakeup 4,667 4,203 4,794\nFragrance 2,508 1,926 1,563\nHair Care 631 571 515\nOther 49 45 40\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\n$ 17,737 $ 16,215 $ 14,294\nNet sales (1)\nBy Region :\nThe Americas $ 4,623 $ 3,797 $ 3,794\nEurope, the Middle East & Africa 7,681 6,946 6,262\nAsia/Pacific 5,437 5,486 4,238\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\nNet sales $ 17,737 $ 16,215 $ 14,294\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 2,753 $ 3,036 $ 2,125\nMakeup 133 (384) (1,438)\nFragrance 456 215 17\nHair Care (28) (19) (19)\nOther — (2) 4\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\n$ 3,170 $ 2,618 $ 606\nOperating income (1)\nBy Region :\nThe Americas $ 1,159 $ 518 $ (1,044)\nEurope, the Middle East & Africa 1,360 1,335 997\nAsia/Pacific 795 993 736\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\nOperating income $ 3,170 $ 2,618 $ 606\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_revenue_growth",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 17737m",
      "golden_context": "Page 33:\n\nm 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2022, 2021 and 2020 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2022 2021 2020\nNET SALES\nBy Product Category:\nSkin Care $ 9,886 $ 9,484 $ 7,382\nMakeup 4,667 4,203 4,794\nFragrance 2,508 1,926 1,563\nHair Care 631 571 515\nOther 49 45 40\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\n$ 17,737 $ 16,215 $ 14,294\nNet sales (1)\nBy Region :\nThe Americas $ 4,623 $ 3,797 $ 3,794\nEurope, the Middle East & Africa 7,681 6,946 6,262\nAsia/Pacific 5,437 5,486 4,238\n17,741 16,229 14,294\nReturns associated with restructuring and other activities (4) (14) —\nNet sales $ 17,737 $ 16,215 $ 14,294\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 2,753 $ 3,036 $ 2,125\nMakeup 133 (384) (1,438)\nFragrance 456 215 17\nHair Care (28) (19) (19)\nOther — (2) 4\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\n$ 3,170 $ 2,618 $ 606\nOperating income (1)\nBy Region :\nThe Americas $ 1,159 $ 518 $ (1,044)\nEurope, the Middle East & Africa 1,360 1,335 997\nAsia/Pacific 795 993 736\n3,314 2,846 689\nCharges associated with restructuring and other activities (144) (228) (83)\nOperating income $ 3,170 $ 2,618 $ 606\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000369_segments",
      "report_id": "ID_000369",
      "company_name": "Estee Lauder",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 145:\n\n during the year for income taxes $ 163 $ 166 $ 153\n$ 760 $ 664 $ 537\nNon-cash investing and financing activities:\nProperty, plant and equipment accrued but unpaid $ 106 $ 97 $ 39\nPurchase price payable - shares purchased from noncontrolling interests $ 38 $ — $ —\nPurchase price payable - DECIEM stock option $ — $ 103 $ —\nPurchase price refund receivable $ — $ — $ 32\nNOTE 22 – SEGMENT DATA AND RELATED INFORMATION\nReportable operating segments include components of an enterprise about which separate financial information is available that is evaluated regularly by\nthe chief operating decision maker (the “Chief Executive”) in deciding how to allocate resources and in assessing performance. As a result of the\nsimilarities in the manufacturing, marketing and distribution processes for all of the Company’s products, much of the information provided in the\nconsolidated financial statements is similar to, or the same as, that reviewed on a regular basis by the Chief Executive. Although the Company operates in\none business segment, beauty products, management also evaluates performance on a product category basis. While the Company’s results of\noperations are also reviewed on a consolidated basis, the Chief Executive reviews data segmented on a basis that facilitates comparison to industry\nstatistics. Accordingly, net sales, depreciation and amortization, and operating income are available with respect to the manufacture and distribution of\nskin care, makeup, fragrance, hair care and other products. These product categories meet the definition of operating segments and, accordingly,\nadditional financial data are provided below. The “other” segment includes the sales and related results of ancillary products and services that do not fit\nthe definition of skin care, makeup, fragrance and hair care. Product category performance is measured based upon net sales before returns associated\nwith restructuring and other activities, and earnings before income taxes, other components of net periodic benefit cost, interest expense, interest income\nand investment income, net, other income, net and charges associated with restructuring and other activities. Returns and charges associated with\nrestructuring and other activities are not allocated to the Company's product categories or geographic regions because they are centrally directed and\ncontrolled, are not included in internal measures of product category or geographic region performance and result from activities that are deemed\nCompany-wide initiatives to redesign, resize and reorganize select areas of the business.\nThe accounting policies for the Company’s reportable segments are substantially the same as those described in the summary of significant accounting\npolicies, except for depreciation and amortization charges, which are allocated, primarily, based upon net sales. The assets and liabilities of the Company\nare managed centrally and are reported internally in the same manner as th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_cash_flow",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1731m, investing: -3217m, financing: 1590m",
      "golden_context": "Page 55:\n\nFINANCIAL CONDITION\nLIQUIDITY AND CAPITAL RESOURCES\nOverview\nOur principal sources of funds historically have been cash flows from operations, borrowings pursuant to our commercial paper program, borrowings from\nthe issuance of long-term debt and committed and uncommitted credit lines provided by banks and other lenders in the United States and abroad. At\nJune 30, 2023, we had cash and cash equivalents of $4,029 million compared with $3,957 million at June 30, 2022. Our cash and cash equivalents are\nmaintained at a number of financial institutions. To mitigate the risk of uninsured balances, we select financial institutions based on their credit ratings and\nfinancial strength, and we perform ongoing evaluations of these institutions to limit our concentration risk exposure. During the fourth quarter of fiscal\n2023, we temporarily reduced our holdings of bank deposits and increased our allocation of government money market funds, due to stresses in the global\nbanking system.\nBased on past performance and current expectations, we believe that cash on hand, cash generated from operations, available credit lines and access to\ncredit markets will be adequate to support seasonal working capital needs, currently planned business operations, information technology enhancements,\ncapital expenditures, acquisitions, dividends, stock repurchases, restructuring initiatives, commitments and other contractual obligations on both a near-\nterm and long-term basis.\nThe TCJA resulted in the Transition Tax on unrepatriated earnings of our foreign subsidiaries and changed the tax law in ways that present opportunities\nto repatriate cash without additional U.S. federal income tax. As a result, we changed our indefinite reinvestment assertion related to certain foreign\nearnings. As explained in further detail in Item 8. Financial Statements and Supplementary Data – Note 9 – Income Taxes , during the fiscal 2023 fourth\nquarter, we changed our assertion regarding our ability and intent to indefinitely reinvest undistributed earnings from certain foreign subsidiaries. We\ncontinue to analyze the indefinite reinvestment assertion on our remaining applicable foreign earnings. We do not believe that continuing to reinvest these\nremaining applicable foreign earnings impairs our ability to meet our domestic debt or working capital obligations. If these reinvested earnings were\nrepatriated into the United States as dividends, we would be subject to state income taxes and applicable foreign taxes in certain jurisdictions.\nInflation impacted our operating results during fiscal 2023 and we expect it to continue. Generally, we have plans to introduce new products at higher\nprices, increase prices and implement other operating efficiencies which we expect to offset some of these cost increases.\nCredit Ratings\nChanges in our credit ratings will likely result in changes in our borrowing costs. Our credit ratings also impact the cost of our revolving credit\nfacility. Downgrades in our credit ratings may reduce our ability to issue commercial paper and/or long-term debt and would likely increase the relative\ncosts of borrowing. A credit rating is not a recommendation to buy, sell, or hold securities, is subject to revision or withdrawal at any time by the assigning\nrating organization, and should be evaluated independently of any other rating. As of August 11, 2023, our long-term debt is rated A+ with a negative\noutlook by Standard & Poor’s and A1 with a stable outlook by Moody’s.\nDebt and Access to Liquidity\nTotal debt as a percent of total capitalization (excluding noncontrolling interests) increased to 59% at June 30, 2023 from 49% at June 30, 2022, primarily\ndue to the increase in total debt, reflecting the financing of our acquisition of the TOM FORD brand, including the issuance of commercial paper primarily\nin the second half of fiscal 2023, and the issuance of Senior Notes in May 2023.\nFor further information regarding our current and long-term debt and available financing, see Item 8. Financial Statements and Supplementary Data –\nNote 11 – Debt.\nCash Flows\nYear Ended June 30\n(In millions) 2023 2022\nNet cash provided by operating activities $ 1,731 $ 3,040\nNet cash used for investing activities $ (3,217) $ (945)\nNet cash provided by (used for) financing activities $ 1,590 $ (3,036)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_company_type",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 4:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(Mark One)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended June 30, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 1-14064\nThe Estée Lauder Companies Inc.\n(Exact name of registrant as specified in its charter)\nDelaware 11-2408943\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n767 Fifth Avenue, New York, New York 10153\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code 212-572-4200\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading\nName of each exchange on which registered\nClass A Common Stock, $.01 par value Symbol(s)\nEL New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐\nEmerging growth company ☐\nNon-accelerated filer ☐ Smaller reporting company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of\nan error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the registrant’s voting common equity held by non-affiliates of the registrant was approximately $ 57 billion at December 30, 2022 (the last business day\nof the registrant’s most recently completed second quarter).\n*\nAt August 11, 2023, 232,148,786 shares of the registrant’s Class A Common Stock, $.01 par value, and 125,542,029 shares of the registrant’s Class B Common Stock, $.01 par\nvalue, were outstanding.\nDocuments Incorporated by Reference\nDocument Where Incorporated\nProxy Statement for Annual Meeting of\nStockholders to be held November 17, 2023 Part III\n* Calculated by excluding all shares held by executive officers and directors of registrant and certain trusts without conceding that all such persons are “affiliates” of registrant for\npurposes of the Federal securities laws",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_key_financials",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "net sales 15910m, operating income: 1509m",
      "golden_context": "Page 33:\n\ntem 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2023, 2022 and 2021 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2023 2022 2021\nNET SALES\nBy Product Category:\nSkin Care $ 8,202 $ 9,886 $ 9,484\nMakeup 4,516 4,667 4,203\nFragrance 2,512 2,508 1,926\nHair Care 653 631 571\nOther 54 49 45\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\n$ 15,910 $ 17,737 $ 16,215\nNet sales (1)\nBy Region :\nThe Americas $ 4,518 $ 4,623 $ 3,797\nEurope, the Middle East & Africa 6,225 7,681 6,946\nAsia/Pacific 5,194 5,437 5,486\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\nNet sales $ 15,910 $ 17,737 $ 16,215\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 1,204 $ 2,753 $ 3,036\nMakeup (22) 133 (384)\nFragrance 440 456 215\nHair Care (34) (28) (19)\nOther 6 — (2)\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\n$ 1,509 $ 3,170 $ 2,618\nOperating income (1)\nBy Region :\nThe Americas $ (73) $ 1,159 $ 518\nEurope, the Middle East & Africa 843 1,360 1,335\nAsia/Pacific 824 795 993\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\nOperating income $ 1,509 $ 3,170 $ 2,618\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asia/Pacific region. Operating income attributable to the travel retail sales included in Europe, the Middle East &\nAfrica is included in that region and in The Americas.\n\nPage 34:\n\nThe following table presents certain consolidated earnings data as a percentage of net sales:\nYear Ended June 30\n2023 2022 2021\nNet sales Cost of sales 100.0 % 100.0 % 100.0 %\n28.7 24.3 23.6\nGross profit 71.3 75.7 76.4\nOperating expenses:\nSelling, general and administrative 60.2 55.7 57.8\nRestructuring and other charges 0.3 0.8 1.3\nGoodwill impairment — — 0.3\nImpairment of other intangible and long-lived assets 1.3 1.4 0.8\nTotal operating expenses 61.8 57.9 60.2\nOperating income 9.5 17.9 16.1\nInterest expense 1.6 0.9 1.1\nInterest income and investment income, net 0.8 0.2 0.3\nOther components of net periodic benefit cost (0.1) — 0.1\nOther income, net — — 5.2\nEarnings before income taxes 8.8 17.1 20.5\nProvision for income taxes 2.4 3.5 2.8\nNet earnings 6.3 13.6 17.7\nNet earnings attributable to noncontrolling interests — — (0.1)\nNet loss (earnings) attributable to redeemable noncontrolling interest — (0.1) —\nNet earnings attributable to The Estée Lauder Companies Inc.\n6.3 % 13.5 % 17.7 %\nNot adjusted for differences caused by rounding\nPeriod-over-period changes in our net sales are generally attributable to the impacts from (i) pricing on our base portfolio, including changes in mix and\nthose due to strategic pricing actions, (ii) volume, including changes driven by the impact of new product innovation, (iii) acquisitions and/or divestitures,\nand/or (iv) foreign currency translation. The percentages disclosed for these impacts are calculated on an individual basis.\nThe net sales impact from pricing consists of changes in list prices, due to strategic pricing actions, and mix shifts within and among product categories,\ngeographic regions, brands and distribution channels. The prices at which we sell our products vary by brand, distribution channel (e.g., wholesale or\ndirect-to-consumer) and may also vary by country. Our brands and products cover a broad array of pricing tiers. Prices of skin care and fragrance products\nare typically higher than makeup and hair care products.\nNew product innovation includes the introduction of new products, as well as changes related to existing products or where they are sold, including\nreformulations, regional expansion, repackaging and sets. A product is considered \"new innovation\" for the twelve-month period following the initial\nshipment date. Our innovation is",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_revenue",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "net sales 15910m",
      "golden_context": "Page 33:\n\ntem 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2023, 2022 and 2021 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2023 2022 2021\nNET SALES\nBy Product Category:\nSkin Care $ 8,202 $ 9,886 $ 9,484\nMakeup 4,516 4,667 4,203\nFragrance 2,512 2,508 1,926\nHair Care 653 631 571\nOther 54 49 45\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\n$ 15,910 $ 17,737 $ 16,215\nNet sales (1)\nBy Region :\nThe Americas $ 4,518 $ 4,623 $ 3,797\nEurope, the Middle East & Africa 6,225 7,681 6,946\nAsia/Pacific 5,194 5,437 5,486\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\nNet sales $ 15,910 $ 17,737 $ 16,215\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 1,204 $ 2,753 $ 3,036\nMakeup (22) 133 (384)\nFragrance 440 456 215\nHair Care (34) (28) (19)\nOther 6 — (2)\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\n$ 1,509 $ 3,170 $ 2,618\nOperating income (1)\nBy Region :\nThe Americas $ (73) $ 1,159 $ 518\nEurope, the Middle East & Africa 843 1,360 1,335\nAsia/Pacific 824 795 993\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\nOperating income $ 1,509 $ 3,170 $ 2,618\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asia/Pacific region. Operating income attributable to the travel retail sales included in Europe, the Middle East &\nAfrica is included in that region and in The Americas.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_revenue_growth",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 15910m, prior year 17737m (net sales decreased 10%)",
      "golden_context": "Page 33:\n\ntem 7. RESULTS OF OPERATIONS\nManagement’s Discussion and Analysis of Financial Condition and Results of Operations.\nWe manufacture, market and sell beauty products including those in the skin care, makeup, fragrance and hair care categories, which are distributed in\napproximately 150 countries and territories. The following table is a comparative summary of operating results for fiscal 2023, 2022 and 2021 and reflects\nthe basis of presentation described in Item 8. Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies and\nNote 22 – Segment Data and Related Information for all periods presented. Products and services that do not meet our definition of skin care, makeup,\nfragrance and hair care have been included in the “other” category.\nYear Ended June 30\n(In millions) 2023 2022 2021\nNET SALES\nBy Product Category:\nSkin Care $ 8,202 $ 9,886 $ 9,484\nMakeup 4,516 4,667 4,203\nFragrance 2,512 2,508 1,926\nHair Care 653 631 571\nOther 54 49 45\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\n$ 15,910 $ 17,737 $ 16,215\nNet sales (1)\nBy Region :\nThe Americas $ 4,518 $ 4,623 $ 3,797\nEurope, the Middle East & Africa 6,225 7,681 6,946\nAsia/Pacific 5,194 5,437 5,486\n15,937 17,741 16,229\nReturns associated with restructuring and other activities (27) (4) (14)\nNet sales $ 15,910 $ 17,737 $ 16,215\nOPERATING INCOME (LOSS)\nBy Product Category:\nSkin Care $ 1,204 $ 2,753 $ 3,036\nMakeup (22) 133 (384)\nFragrance 440 456 215\nHair Care (34) (28) (19)\nOther 6 — (2)\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\n$ 1,509 $ 3,170 $ 2,618\nOperating income (1)\nBy Region :\nThe Americas $ (73) $ 1,159 $ 518\nEurope, the Middle East & Africa 843 1,360 1,335\nAsia/Pacific 824 795 993\n1,594 3,314 2,846\nCharges associated with restructuring and other activities (85) (144) (228)\nOperating income $ 1,509 $ 3,170 $ 2,618\n(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, with the exception of net sales of Dr.Jart+ in the\ntravel retail channel that are reflected in Korea in the Asia/Pacific region. Operating income attributable to the travel retail sales included in Europe, the Middle East &\nAfrica is included in that region and in The Americas.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000370_segments",
      "report_id": "ID_000370",
      "company_name": "Estee Lauder",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "one reportable segment",
      "golden_context": "Page 147:\n\nn-cash investing and financing activities:\nCapitalized interest and asset retirement obligations incurred $ 13 $ 6 $ 3\nDeferred consideration payable $ 300 $ 38 $ —\nProperty, plant and equipment accrued but unpaid $ 246 $ 106 $ 97\nNOTE 22 – SEGMENT DATA AND RELATED INFORMATION\nReportable operating segments include components of an enterprise about which separate financial information is available that is evaluated regularly by\nthe chief operating decision maker (the “Chief Executive”) in deciding how to allocate resources and in assessing performance. As a result of the\nsimilarities in the manufacturing, marketing and distribution processes for all of the Company’s products, much of the information provided in the\nconsolidated financial statements is similar to, or the same as, that reviewed on a regular basis by the Chief Executive. Although the Company operates in\none business segment, beauty products, management also evaluates performance on a product category basis. While the Company’s results of\noperations are also reviewed on a consolidated basis, the Chief Executive reviews data segmented on a basis that facilitates comparison to industry\nstatistics. Accordingly, net sales, depreciation and amortization, and operating income are available with respect to the manufacture and distribution of\nskin care, makeup, fragrance, hair care and other products. These product categories meet the definition of operating segments and, accordingly,\nadditional financial data are provided below. The other segment includes the sales and related results of ancillary products and services that do not fit the\ndefinition of skin care, makeup, fragrance and hair care, including royalty revenue associated with the license of the TOM FORD trademark as discussed\nin Note 14 - Revenue Recognition. Product category performance is measured based upon net sales before returns associated with restructuring and\nother activities, and earnings before income taxes, other components of net periodic benefit cost, interest expense, interest income and investment\nincome, net, other income, net and charges associated with restructuring and other activities. Returns and charges associated with restructuring and other\nactivities are not allocated to the Company's product categories or geographic regions because they are centrally directed and controlled, are not included\nin internal measures of product category or geographic region performance and result from activities that are deemed Company-wide initiatives to\nredesign, resize and reorganize select areas of the business.\nThe accounting policies for the Company’s reportable segments are substantially the same as those described in the summary of significant accounting\npolicies, except for depreciation and amortization charges, which are allocated, primarily, based upon net sales. The assets and liabilities of the Company\nare managed centrally and are reported internally in the same manner as the consolidated financial statements; thus, no additional information is\nproduced for the Chief Executive or included herein.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_cash_flow",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1008.6m, investing: -187.8m, financing: -84.3m",
      "golden_context": "Page 68:\n\nSnap-on Incorporated – Consolidated Statements of Cash Flows\n(Amounts in millions) 2020 2019 2018\nOperating activities:\nNet earnings $ 646.4 $ 711.2 $ 696.2\nAdjustments to reconcile net earnings to net cash provided (used) by operating activities:\nDepreciation 73.3 70.1 68.8\nAmortization of other intangibles 23.4 22.3 25.3\nProvision for losses on finance receivables 54.6 49.9 57.5\nProvision for losses on non-finance receivables 22.7 18.3 12.8\nStock-based compensation expense 19.5 23.8 27.2\nDeferred income tax provision (benefit) (8.2) 34.2 13.7\nLoss on sales of assets 1.4 0.9 0.5\nSettlement of treasury lock 1.4 — —\nLoss on early extinguishment of debt — — 7.8\nChanges in operating assets and liabilities, net of effects of acquisitions:\nTrade and other accounts receivable 47.9 (15.7) (47.7)\nContract receivables (29.9) (20.9) (30.9)\nInventories 34.2 (97.0) (38.6)\nPrepaid and other assets 8.5 (22.2) 10.4\nAccounts payable 17.8 (2.6) 27.5\nAccruals and other liabilities 95.6 (97.7) (66.0)\nNet cash provided by operating activities 1,008.6 674.6 764.5\nInvesting activities:\nAdditions to finance receivables (835.0) (841.9) (865.6)\nCollections of finance receivables 750.3 754.3 747.7\nCapital expenditures (65.6) (99.4) (90.9)\nAcquisitions of businesses, net of cash acquired (41.5) (38.6) (3.0)\nDisposals of property and equipment 1.8 1.7 0.7\nOther 2.2 1.8 0.9\nNet cash used by investing activities (187.8) (222.1) (210.2)\nFinancing activities:\nProceeds from issuance of long-term debt 489.9 — 395.4\nRepayments of long-term debt — — (457.8)\nRepayments of notes payable — — (16.8)\nNet increase (decrease) in other short-term borrowings (187.2) 17.6 21.7\nCash dividends paid (243.3) (216.6) (192.0)\nPurchases of treasury stock (174.3) (238.4) (284.1)\nProceeds from stock purchase and option plans 55.8 51.4 55.5\nOther (25.2) (23.4) (24.1)\nNet cash used by financing activities (84.3) (409.4) (502.2)\nEffect of exchange rate changes on cash and cash equivalents 2.4 0.5 (3.2)\nIncrease in cash and cash equivalents 738.9 43.6 48.9\nCash and cash equivalents at beginning of year 184.5 140.9 92.0\nCash and cash equivalents at end of year $ 923.4 $ 184.5 $ 140.9\nSupplemental cash flow disclosures:\nCash paid for interest Net cash paid for income taxes $ (49.8) $ (46.3) $ (51.5)\n(188.4) (191.2) (188.0)\nSee Notes to Consolidated Financial Statements.\n66 SNAP-ON INCORPORATED",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_company_type",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended January 2, 2021, or\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number 1-7724\nSnap-on Incorporated\n(Exact name of registrant as specified in its charter)\nDelaware 39-0622040\n(State of incorporation) (I.R.S. Employer Identification No.)\n2801 80th Street Kenosha Wisconsin (Address of principal executive offices) 53143\n(Zip code)\nName of each exchange on which registered\nNew York Stock Exchange\nTitle of each class Common Stock, $1.00 par value (262) 656-5200\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) SNA Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past\n90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging\ngrowth company. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the\nExchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.\n☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of voting and non-voting common equity held by non-affiliates (excludes 710,101 shares held by directors and executive officers)\ncomputed by reference to the price ($133.56) at which common equity was last sold as of the last business day of the registrant’s most recently completed second\nfiscal quarter (June 26, 2020) was $7.2 billion.\nThe number of shares of Common Stock ($1.00 par value) of the registrant outstanding as of February 5, 2021, was 54,203,094 shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPart III of this Annual Report on Form 10-K incorporates by reference certain information that will be set forth in Snap-on’s Proxy Statement, which is expected to first\nbe mailed to shareholders on or about March 12, 2021, prepared for the Annual Meeting of Shareholders scheduled for April 29, 2021.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_key_financials",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 3592.5m, gross profit 1748.5m, operating earnings 880.5m, net earnings: 646.4m",
      "golden_context": "Page 28:\n\ntem 6: Selected Financial Data\nThe selected financial data presented below has been derived from, and should be read in conjunction with, the respective historical consolidated\nfinancial statements of the company, including the notes thereto, and “Part II, Item 7: Management’s Discussion and Analysis of Financial Condition and\nResults of Operations.\n”\nFive-year Data\n(Amounts in millions, except per share data) 2020 2019 2018 2017 2016\nResults of Operations\nNet sales $ 3,592.5 $ 3,730.0 $ 3,740.7 $ 3,686.9 $ 3,430.4\nGross profit 1,748.5 1,844.0 1,870.0 1,825.9 1,710.4\nOperating expenses 1,116.6 1,127.6 1,144.0 1,161.3 1,048.0\nOperating earnings before financial services 631.9 716.4 726.0 664.6 662.4\nFinancial services revenue 349.7 337.7 329.7 313.4 281.4\nFinancial services expenses 101.1 91.8 99.6 95.9 82.7\nOperating earnings from financial services 248.6 245.9 230.1 217.5 198.7\nOperating earnings 880.5 962.3 956.1 882.1 861.1\nInterest expense 54.0 49.0 50.4 52.4 52.2\nEarnings before income taxes and equity earnings 835.2 922.1 909.9 821.9 801.4\nIncome tax expense 189.1 211.8 214.4 250.9 244.3\nEarnings before equity earnings 646.1 710.3 695.5 571.0 557.1\nEquity earnings, net of tax 0.3 0.9 0.7 1.2 2.5\nNet earnings 646.4 711.2 696.2 572.2 559.6\nNet earnings attributable to noncontrolling interests (19.4) (17.7) (16.3) (14.5) (13.2)\nNet earnings attributable to Snap-on 627.0 693.5 679.9 557.7 546.4\nFinancial Position\nCash and cash equivalents $ 923.4 $ 184.5 $ 140.9 $ 92.0 $ 77.6\nTrade and other accounts receivable – net 640.7 694.6 692.6 675.6 598.8\nFinance receivables – net (current) 530.2 530.1 518.5 505.4 472.5\nContract receivables – net (current) 112.5 100.7 98.3 96.8 88.1\nInventories – net 746.5 760.4 673.8 638.8 530.5\nProperty and equipment – net 526.2 521.5 495.1 484.4 425.2\nLong-term finance receivables – net 1,136.3 1,103.5 1,074.4 1,039.2 934.5\nLong-term contract receivables – net 374.7 360.1 344.9 322.6 286.7\nTotal assets 6,557.3 5,693.5 5,373.1 5,249.1 4,723.2\nNotes payable and current maturities of long-term debt 268.5 202.9 186.3 433.2 301.4\nAccounts payable 222.9 198.5 201.1 178.2 170.9\nLong-term debt 1,182.1 946.9 946.0 753.6 708.8\nTotal debt 1,450.6 1,149.8 1,132.3 1,186.8 1,010.2\nTotal shareholders’ equity attributable to Snap-on 3,824.9 3,409.1 3,098.8 2,953.9 2,617.2\nCommon Share Summary\nWeighted-average shares outstanding – diluted 54.8 55.9 57.3 58.6 59.4\nNet earnings per share attributable to Snap-on:\nBasic Diluted $ 11.55 $ 12.59 $ 12.08 $ 9.72 $ 9.40\n11.44 12.41 11.87 9.52 9.20\nCash dividends paid per share 4.47 3.93 3.41 2.95 2.54\nShareholders’ equity per basic share 70.44 61.87 55.04 51.46 45.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_revenue",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 3592.5m",
      "golden_context": "Page 28:\n\ntem 6: Selected Financial Data\nThe selected financial data presented below has been derived from, and should be read in conjunction with, the respective historical consolidated\nfinancial statements of the company, including the notes thereto, and “Part II, Item 7: Management’s Discussion and Analysis of Financial Condition and\nResults of Operations.\n”\nFive-year Data\n(Amounts in millions, except per share data) 2020 2019 2018 2017 2016\nResults of Operations\nNet sales $ 3,592.5 $ 3,730.0 $ 3,740.7 $ 3,686.9 $ 3,430.4\nGross profit 1,748.5 1,844.0 1,870.0 1,825.9 1,710.4\nOperating expenses 1,116.6 1,127.6 1,144.0 1,161.3 1,048.0\nOperating earnings before financial services 631.9 716.4 726.0 664.6 662.4\nFinancial services revenue 349.7 337.7 329.7 313.4 281.4\nFinancial services expenses 101.1 91.8 99.6 95.9 82.7\nOperating earnings from financial services 248.6 245.9 230.1 217.5 198.7\nOperating earnings 880.5 962.3 956.1 882.1 861.1\nInterest expense 54.0 49.0 50.4 52.4 52.2\nEarnings before income taxes and equity earnings 835.2 922.1 909.9 821.9 801.4\nIncome tax expense 189.1 211.8 214.4 250.9 244.3\nEarnings before equity earnings 646.1 710.3 695.5 571.0 557.1\nEquity earnings, net of tax 0.3 0.9 0.7 1.2 2.5\nNet earnings 646.4 711.2 696.2 572.2 559.6\nNet earnings attributable to noncontrolling interests (19.4) (17.7) (16.3) (14.5) (13.2)\nNet earnings attributable to Snap-on 627.0 693.5 679.9 557.7 546.4\nFinancial Position\nCash and cash equivalents $ 923.4 $ 184.5 $ 140.9 $ 92.0 $ 77.6\nTrade and other accounts receivable – net 640.7 694.6 692.6 675.6 598.8\nFinance receivables – net (current) 530.2 530.1 518.5 505.4 472.5\nContract receivables – net (current) 112.5 100.7 98.3 96.8 88.1\nInventories – net 746.5 760.4 673.8 638.8 530.5\nProperty and equipment – net 526.2 521.5 495.1 484.4 425.2\nLong-term finance receivables – net 1,136.3 1,103.5 1,074.4 1,039.2 934.5\nLong-term contract receivables – net 374.7 360.1 344.9 322.6 286.7\nTotal assets 6,557.3 5,693.5 5,373.1 5,249.1 4,723.2\nNotes payable and current maturities of long-term debt 268.5 202.9 186.3 433.2 301.4\nAccounts payable 222.9 198.5 201.1 178.2 170.9\nLong-term debt 1,182.1 946.9 946.0 753.6 708.8\nTotal debt 1,450.6 1,149.8 1,132.3 1,186.8 1,010.2\nTotal shareholders’ equity attributable to Snap-on 3,824.9 3,409.1 3,098.8 2,953.9 2,617.2\nCommon Share Summary\nWeighted-average shares outstanding – diluted 54.8 55.9 57.3 58.6 59.4\nNet earnings per share attributable to Snap-on:\nBasic Diluted $ 11.55 $ 12.59 $ 12.08 $ 9.72 $ 9.40\n11.44 12.41 11.87 9.52 9.20\nCash dividends paid per share 4.47 3.93 3.41 2.95 2.54\nShareholders’ equity per basic share 70.44 61.87 55.04 51.46 45.05\n\n\n\nPage 29:\n\n\nSummary of Consolidated Performance\nConsolidated net sales of $4,492.8 million in 2022 increased $240.8 million, or 5.7%, from 2021 levels, reflecting a $357.2\nmillion, or 8.7%, organic gain and $8.5 million of acquisition-related sales, partially offset by $124.9 million of unfavorable\nforeign currency translation.\nOperating earnings before financial services of $941.2 million in 2022 increased $89.7 million, or 10.5%, compared to $851.5\nmillion in 2021. As a percentage of net sales, operating earnings before financial services of 20.9% compared to 20.0% last\nyear.\nOperating earnings of $1,207.2 million in 2022 increased $83.7 million, or 7.4%, compared to $1,123.5 million last year. As a\npercentage of revenues (net sales plus financial services revenue), operating earnings of 24.9% compared to 24.4% last year.\nNet earnings attributable to Snap-on in 2022 of $911.7 million, or $16.82 per diluted share, increased $91.2 million, or $1.90\nper diluted share, from 2021 levels. Net earnings attributable to Snap-on in 2021 were $820.5 million, or $14.92 per diluted\nshare.\nSummary of Segment Performance\nThe Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial\ncustomers worldwide, including customers in the aerospace, natural resources, government and military, power generation,\ntransportation and technical education market segments (collectively, “critical industries”), primarily through direct and\ndistributor channels. Segment net sales of $1,399.2 million in 2022 decreased $7.1 million, or 0.5%, from 2021 levels,\nreflecting a $60.8 million, or 4.5%, organic sales increase, more than offset by $67.9 million of unfavorable currency\ntranslation. The organic growth primarily reflects a double-digit gain in the segment’s specialty tools business, a high single-\ndigit increase in the segment’s Asia Pacific operations, and low single-digit gains in the segment’s European-based hand tools\nbusiness and in sales to customers in critical industries, despite lower activity with the military. Operating earnings of $197.6\nmillion in 2022, including $8.6 million of unfavorable foreign currency effects, decreased $12.3 million, or 5.9%, compared to\n$209.9 million in 2021.\nThe Commercial & Industrial Group intends to continue building on the following strategic priorities in 2023:\n• Expanding our business with existing customers and reaching new customer",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_revenue_growth",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 3592.5m, prior year: 3730m",
      "golden_context": "Page 28:\n\ntem 6: Selected Financial Data\nThe selected financial data presented below has been derived from, and should be read in conjunction with, the respective historical consolidated\nfinancial statements of the company, including the notes thereto, and “Part II, Item 7: Management’s Discussion and Analysis of Financial Condition and\nResults of Operations.\n”\nFive-year Data\n(Amounts in millions, except per share data) 2020 2019 2018 2017 2016\nResults of Operations\nNet sales $ 3,592.5 $ 3,730.0 $ 3,740.7 $ 3,686.9 $ 3,430.4\nGross profit 1,748.5 1,844.0 1,870.0 1,825.9 1,710.4\nOperating expenses 1,116.6 1,127.6 1,144.0 1,161.3 1,048.0\nOperating earnings before financial services 631.9 716.4 726.0 664.6 662.4\nFinancial services revenue 349.7 337.7 329.7 313.4 281.4\nFinancial services expenses 101.1 91.8 99.6 95.9 82.7\nOperating earnings from financial services 248.6 245.9 230.1 217.5 198.7\nOperating earnings 880.5 962.3 956.1 882.1 861.1\nInterest expense 54.0 49.0 50.4 52.4 52.2\nEarnings before income taxes and equity earnings 835.2 922.1 909.9 821.9 801.4\nIncome tax expense 189.1 211.8 214.4 250.9 244.3\nEarnings before equity earnings 646.1 710.3 695.5 571.0 557.1\nEquity earnings, net of tax 0.3 0.9 0.7 1.2 2.5\nNet earnings 646.4 711.2 696.2 572.2 559.6\nNet earnings attributable to noncontrolling interests (19.4) (17.7) (16.3) (14.5) (13.2)\nNet earnings attributable to Snap-on 627.0 693.5 679.9 557.7 546.4\nFinancial Position\nCash and cash equivalents $ 923.4 $ 184.5 $ 140.9 $ 92.0 $ 77.6\nTrade and other accounts receivable – net 640.7 694.6 692.6 675.6 598.8\nFinance receivables – net (current) 530.2 530.1 518.5 505.4 472.5\nContract receivables – net (current) 112.5 100.7 98.3 96.8 88.1\nInventories – net 746.5 760.4 673.8 638.8 530.5\nProperty and equipment – net 526.2 521.5 495.1 484.4 425.2\nLong-term finance receivables – net 1,136.3 1,103.5 1,074.4 1,039.2 934.5\nLong-term contract receivables – net 374.7 360.1 344.9 322.6 286.7\nTotal assets 6,557.3 5,693.5 5,373.1 5,249.1 4,723.2\nNotes payable and current maturities of long-term debt 268.5 202.9 186.3 433.2 301.4\nAccounts payable 222.9 198.5 201.1 178.2 170.9\nLong-term debt 1,182.1 946.9 946.0 753.6 708.8\nTotal debt 1,450.6 1,149.8 1,132.3 1,186.8 1,010.2\nTotal shareholders’ equity attributable to Snap-on 3,824.9 3,409.1 3,098.8 2,953.9 2,617.2\nCommon Share Summary\nWeighted-average shares outstanding – diluted 54.8 55.9 57.3 58.6 59.4\nNet earnings per share attributable to Snap-on:\nBasic Diluted $ 11.55 $ 12.59 $ 12.08 $ 9.72 $ 9.40\n11.44 12.41 11.87 9.52 9.20\nCash dividends paid per share 4.47 3.93 3.41 2.95 2.54\nShareholders’ equity per basic share 70.44 61.87 55.04 51.46 45.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000371_segments",
      "report_id": "ID_000371",
      "company_name": "Snap-on",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "(i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services",
      "golden_context": "Page 6:\n\nkets its products and brands worldwide through multiple sales distribution channels in more than 130 countries. Snap-on’s largest\ngeographic markets include the United States, Europe, Canada and Asia Pacific. Snap-on reaches its customers through the company’s franchised,\ncompany-direct, distributor and internet channels.\nThe company began with the development of the original Snap-on interchangeable socket set in 1920 and subsequently pioneered mobile tool distribution\nin the automotive repair market, where well-stocked vans sell to professional vehicle technicians at their place of business. Today, Snap-on defines its\nvalue proposition more broadly, extending its reach “beyond the garage” to deliver a broad array of unique solutions that make work easier for serious\nprofessionals performing critical tasks. The company’s “coherent growth” strategy focuses on developing and expanding its professional customer base in\nits legacy automotive market, as well as in adjacent markets, additional geographies and other areas, including in critical industries, where the cost and\npenalties for failure can be high. In addition to its coherent growth strategy, Snap-on is committed to its “Value Creation Processes”\n– a set of strategic\nprinciples and processes designed to create value and employed in the areas of (i) safety; (ii) quality; (iii) customer connection; (iv) innovation; and\n(v) rapid continuous improvement (“RCI”). Snap-on’s RCI initiatives employ a structured set of tools and processes across multiple businesses and\ngeographies intended to eliminate waste and improve operations. Savings from Snap-on’s RCI initiatives reflect benefits from a wide variety of ongoing\nefficiency, productivity and process improvements, including savings generated from product design cost reductions, improved manufacturing line set-up\nand change-over practices, lower-cost sourcing initiatives and facility consolidations.\nSnap-on’s primary customer segments include: (i) commercial and industrial customers, including professionals in critical industries and emerging\nmarkets; (ii) professional vehicle repair technicians who purchase products through the company’s mobile tool distribution network; and (iii) other\nprofessional customers related to vehicle repair, including owners and managers of independent and original equipment manufacturer (“OEM”) dealership\nservice and repair shops (“OEM dealerships”). Snap-on’s Financial Services customer segment includes: (i) franchisees’ customers, principally serving\nvehicle repair technicians, and Snap-on customers who require financing for the purchase or lease of tools and diagnostics and equipment products on an\nextended-term payment plan; and (ii) franchisees who require financing options for vehicle and business needs.\nSnap-on’s business segments are based on the organization structure used by management for making operating and investment decisions and for\nassessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair\nSystems & Information Group; and (iv) Financial Services. The Commercial & Industrial Group consists of business operations serving a broad range of\nindustrial and commercial customers worldwide, including customers in the aerospace, natural resources, government, power generation, transportation\nand technical education market segments (collectively,\n“critical industries”), primarily through direct and distributor channels. The Snap-on Tools Group\nconsists of business operations primarily serving vehicle service and repair technicians through the company’s worldwide mobile tool distribution channel.\nThe Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers worldwide, primarily owners\nand managers of independent repair shops and OEM dealerships, through direct and distributor channels. Financial Services consists of the business\noperations of Snap-on Credit LLC (“SOC”), the company’s financial services business in the United States, and Snap-on’s other financial services\nsubsidiaries in those international markets where Snap-on has franchise operations. See Note 20 to the Consolidated Financial Statements for\ninformation on business segments and foreign operations.\nSnap-on evaluates the performance of its operating segments based on segment revenues, including both external and intersegment net sales, and\nsegment operating earnings. Snap-on accounts for intersegment sales and transfers based primarily on standard costs with reasonable mark-ups\nestablished between the segments. Identifiable assets by segment are those assets used in the respective reportable segment’s operations. Corporate\nassets consist of cash and cash equivalents (excluding cash held at Financial Services), deferred income taxes and certain other assets. Intersegment\namounts are eliminated to arrive at Snap-on’s consolidated financial results.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_cash_flow",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating activities of $675.2 million\n\n\n investing activities of $206.2 million\n \n \n \n \n financing activities of $485.0 million ",
      "golden_context": "Page 44:\n\nOperating Activities\nNet cash provided by operating activities of $675.2 million in 2022 decreased $291.4 million from $966.6 million in 2021. The\n$291.4 million decrease is primarily due to a $354.5 million change in net operating assets and liabilities, partially offset by a\n$92.5 million increase in net earnings.\nDepreciation expense was $71.5 million in 2022 and $75.6 million in 2021. Amortization expense was $28.7 million in 2022\nand $29.2 million in 2021. See Note 6 and Note 7 to the Consolidated Financial Statements for information on property and\nequipment, goodwill and other intangible assets.\nInvesting Activities\nNet cash used by investing activities of $206.2 million in 2022 included additions to finance receivables of $955.8 million,\npartially offset by collections of $826.9 million. Net cash used by investing activities of $290.4 million in 2021 included\nadditions to finance receivables of $878.1 million, partially offset by collections of $854.2 million. Finance receivables are\ncomprised of extended-term installment payment contracts to both technicians and independent shop owners (i.e., franchisees’\ncustomers) to enable them to purchase tools, diagnostics, and equipment products on an extended-term payment plan, with\naverage payment terms of approximately four years.\nNet cash used by investing activities in 2022 also included $0.5 million of cash provided by acquisitions. Net cash used by\ninvesting activities in 2021 included $199.7 million for the acquisitions of Dealer-FX, AutoCrib Germany and Pradines. See\nNote 3 to the Consolidated Financial Statements for information about acquisitions.\nCapital expenditures in 2022 and 2021 totaled $84.2 million and $70.1 million, respectively. Capital expenditures in both years\nincluded continued investments related to the company’s execution of its strategic Value Creation Processes. The company also\ninvested in: (i) new product, efficiency, safety and cost reduction initiatives that are intended to expand and improve its\nmanufacturing and distribution capabilities worldwide; (ii) new production and machine tooling to enhance manufacturing\noperations, as well as ongoing replacements of manufacturing and distribution equipment, particularly in the United States; and\n(iii) the ongoing enhancement of the company’s global enterprise resource planning (ERP) management information systems.\nSnap-on believes that its cash generated from operations, as well as its available cash on hand and funds available from its\ncredit facilities will be sufficient to fund the company’s capital expenditure requirements in 2023.\n\nPage 55:\n\nNet cash used by financing activities of $485.0 million in 2022 included net proceeds from other short-term borrowings of $1.6\nmillion. Net cash used by financing activities of $818.8 million in 2021 included the $250.0 million repayment of the 2021\nNotes at maturity and net proceeds from other short-term borrowings of $3.3 million.\nProceeds from stock purchase and option plan exercises totaled $55.0 million in 2022 and $162.4 million in 2021. In 2022,\nSnap-on repurchased 899,000 shares of its common stock for $198.1 million under its previously announced share repurchase\nprograms. As of 2022 year end, Snap-on had remaining availability to repurchase up to an additional $362.4 million in common\nstock pursuant to its Board’s authorizations. Snap-on repurchased 1,943,900 shares of its common stock for $431.3 million in\n2021. The repurchase of Snap-on common stock to offset dilution related to equity plan issuances or for other corporate\npurposes is at the company’s discretion, subject to prevailing financial and market conditions. Snap-on believes that its cash\ngenerated from operations, available cash on hand, and funds available from its credit facilities, will be sufficient to fund the\ncompany’s additional share repurchases, if any.\nSnap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939. Cash dividends paid in\n2022 and 2021 totaled $313.1 million and $275.8 million, respectively. On November 4, 2022, the company announced that its\nBoard increased the quarterly cash dividend by 14.1% to $1.62 per share ($6.48 per share annualized). Quarterly dividends in\n2022 were $1.62 per share in the fourth quarter and $1.42 per share in the first three quarters ($5.88 per share for the year).\nQuarterly dividends in 2021 were $1.42 per share in the fourth quarter and $1.23 per share in the first three quarters ($5.11 per\nshare for the year).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_company_type",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 30:\n\nSNAP-ON INCORPORATED\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_key_financials",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales $4,492.8m, operating earnings $1,207.2m, net earnings $911.7m, diluted EPS $16.8",
      "golden_context": "Page 39:(Amounts in millions) Operations* Financial Services\n2022 2021 2020 2022 2021 2020\nNet sales $ 4,492.8 $ 4,252.0 $ 3,592.5 $ — $ — $ —\nCost of goods sold (2,311.7) (2,141.2) (1,844.0) — — —\nGross profit 2,181.1 2,110.8 1,748.5 — — —\nOperating expenses (1,239.9) (1,259.3) (1,116.6) — — —\nOperating earnings before financial services 941.2 851.5 631.9 — — —\nFinancial services revenue — — — 349.7 349.7 349.Financial services expenses — — — (83.7) (77.7) (101.Operating earnings from financial services — — — 266.0 272.0 248.Operating earnings 941.2 851.5 631.9 266.0 272.0 248.Interest expense (47.1) (53.0) (53.8) — (0.1) (0.Intersegment interest income (expense) – net 59.3 57.1 68.5 (59.3) (57.1) (68.Other income (expense) – net 42.3 16.4 8.5 0.2 0.1 0.Earnings before income taxes and equity\nearnings 995.7 872.0 655.1 206.9 214.9 180.Income tax expense (215.6) (193.3) (142.7) (53.1) (53.7) (46.Earnings before equity earnings 780.1 678.7 512.4 153.8 161.2 133.Financial services – net earnings attributable to\nSnap-on 153.8 161.2 133.7 — — —\nEquity earnings, net of tax — 1.5 0.3 — — —\nNet earnings 933.9 841.4 646.4 153.8 161.2 133.Net earnings attributable to noncontrolling\ninterests (22.2) (20.9) (19.4) — — —\nNet earnings attributable to Snap-on $ 911.7 $ 820.5 $ 627.0 $ 153.8 $ 161.2 $ 133.\n\n\n\nPage 112: \n\nNote 20: Segments\nSnap-on’s business segments are based on the organization structure used by management for making operating and investment\ndecisions and for assessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group;\n(ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial &\nIndustrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide,\nincluding customers in the aerospace, natural resources, government and military, power generation, transportation and\ntechnical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The\nSnap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the\ncompany’s multi-national mobile tool distribution channel. The Repair Systems & Information Group consists of business\noperations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair\nshops and OEM dealerships, through direct and distributor channels. Financial Services consists of the business operations of\nSnap-on’s finance subsidiaries.\nSnap-on evaluates the performance of its operating segments based on segment revenues, including both external and\nintersegment net sales, and segment operating earnings. Snap-on accounts for intersegment sales and transfers based primarily\non standard costs with reasonable mark-ups established between the segments. Identifiable assets by segment are those assets\nused in the respective reportable segment’s operations. Corporate assets consist of cash and cash equivalents (excluding cash\nheld at Financial Services), deferred income taxes and certain other assets. Intersegment amounts are eliminated to arrive at\nSnap-on’s consolidated financial results.\nSnap-on does not have any single customer or government that represents 10% or more of its revenues in any of the indicated\nperiods.\nFinancial Data by Segment:\n(Amounts in millions) 2022 2021 2020\nNet sales:\nCommercial & Industrial Group $ 1,399.2 $ 1,406.3 $ 1,234.6\nSnap-on Tools Group 2,072.0 1,938.6 1,643.9\nRepair Systems & Information Group 1,666.9 1,503.1 1,238.2\nSegment net sales 5,138.1 4,848.0 4,116.7\nIntersegment eliminations (645.3) (596.0) (524.2)\nTotal net sales 4,492.8 4,252.0 3,592.5\nFinancial Services revenue 349.7 349.7 349.7\nTotal revenues $ 4,842.5 $ 4,601.7 $ 3,942.2\nOperating earnings:\nCommercial & Industrial Group $ 197.6 $ 209.9 $ 153.7\nSnap-on Tools Group 458.7 411.1 267.7\nRepair Systems & Information Group 393.3 348.6 298.0\nFinancial Services 266.0 272.0 248.6\nSegment operating earnings 1,315.6 1,241.6 968.0\nCorporate (108.4) (118.1) (87.5)\nOperating earnings 1,207.2 1,123.5 880.5\nInterest expense (47.1) (53.1) (54.0)\nOther income (expense) – net 42.5 16.5 8.7\nEarnings before income taxes and equity earnings $ 1,202.6 $ 1,086.9 $ 835.2\n\n\nPage 114:\n\nProducts and Services: Snap-on derives net sales from a broad line of products and complementary services that are grouped\ninto three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product\ncategory includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and\nmanagement systems product category includes handheld and computer-based diagnostic products, service and repair\ninformation products, diagnostic software solutions, electronic parts catalogs, business management systems and services,\npoint-of-sale systems, integrated systems for vehicle service shops, OEM purchasing facilitation services, and warranty\nmanagement systems and analytics to help OEM dealerships manage and track performance. The equipment product category\nincludes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle\nservice shop equipment by offering training programs as well as after-sales support for its customers. Through its financial\nservices businesses, Snap-on also derives revenue from various financing programs designed to facilitate the sales of its\nproducts and support its franchise business. Further product line information is not presented as it is not practicable to do so.\nThe following table shows the consolidated net sales and revenues of these product groups in the last three years:\n(Amounts in millions) 2022 2021 2020\nNet sales:\nTools $ 2,399.4 $ 2,343.0 $ 1,984.7\nDiagnostics, information and management systems 942.4 892.5 783.8\nEquipment 1,151.0 1,016.5 824.0\nTotal net sales 4,492.8 4,252.0 3,592.5\nFinancial services revenue 349.7 349.7 349.7\nTotal revenues $ 4,842.5 $ 4,601.7 $ 3,942.2\n\n\nPage 72:\n\n\nThe following table represents external net sales disaggregated by customer type:\n2022\nCommercial & Snap-on Repair Systems\nIndustrial Tools & Information Financial Snap-on\n(Amounts in millions) Group Group Group Services Eliminations Incorporated\nNet sales:\nVehicle service professionals $ 90.8 $ 2,072.0 $ 1,362.5 $ — $ — $ 3,525.3\nAll other professionals 967.5 — — — — 967.5\nExternal net sales 1,058.3 2,072.0 1,362.5 — — 4,492.8\nIntersegment net sales 340.9 — 304.4 — (645.3) —\nTotal net sales 1,399.2 2,072.0 1,666.9 — (645.3) 4,492.8\nFinancial services revenue — — — 349.7 — 349.7\nTotal revenue $ 1,399.2 $ 2,072.0 $ 1,666.9 $ 349.7 $ (645.3) $ 4,842.5\n2021\nCommercial & Snap-on Repair Systems\nIndustrial Tools & Information Financial Snap-on\n(Amounts in millions) Group Group Group Services Eliminations Incorporated\nNet sales:\nVehicle service professionals $ 99.9 $ 1,938.6 $ 1,217.8 $ — $ — $ 3,256.3\nAll other professionals 995.7 — — — — 995.7\nExternal net sales 1,095.6 1,938.6 1,217.8 — — 4,252.0\nIntersegment net sales 310.7 — 285.3 — (596.0) —\nTotal net sales 1,406.3 1,938.6 1,503.1 — (596.0) 4,252.0\nFinancial services revenue — — — 349.7 — 349.7\nTotal revenue $ 1,406.3 $ 1,938.6 $ 1,503.1 $ 349.7 $ (596.0) $ 4,601.7\nNature of goods and services: Snap-on derives net sales from a broad line of products and complementary services that are\ngrouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools\nproduct category includes hand tools, power tools, tool storage products and other similar products. The diagnostics,\ninformation and management systems product category includes handheld and computer-based diagnostic products, service and\nrepair information products, diagnostic software solutions, electronic parts catalogs, business management systems and\nservices, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer (“OEM”)\npurchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair\nshops (“OEM dealerships”) manage and track performance. The equipment product category includes solutions for the service\nof vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by\noffering training programs as well as after-sales support to its customers. Through its financial services businesses, Snap-on\nderives revenue from various financing programs designed to facilitate the sales of its products and support its franchise\nbusiness.\nApproximately 90% of Snap-on’s net sales are products sold at a point in time through ship-and-bill performance obligatio\n\n\n\nPage 71:\n\n\nThe following table represents external net sales disaggregated by geography, based on the customers’ billing addresses:\n2022\nCommercial & Snap-on Repair Systems\nIndustrial Tools & Information Financial Snap-on\n(Amounts in millions) Group Group Group Services Eliminations Incorporated\nNet sales:\nNorth America* $ 498.3 $ 1,840.3 $ 1,046.1 $ — $ — $ 3,384.7\nEurope 284.9 137.9 227.5 — — 650.3\nAll other 275.1 93.8 88.9 — — 457.8\nExternal net sales 1,058.3 2,072.0 1,362.5 — — 4,492.8\nIntersegment net sales 340.9 — 304.4 — (645.3) —\nTotal net sales 1,399.2 2,072.0 1,666.9 — (645.3) 4,492.8\nFinancial services revenue — — — 349.7 — 349.7\nTotal revenue $ 1,399.2 $ 2,072.0 $ 1,666.9 $ 349.7 $ (645.3) $ 4,842.5\n2021\nCommercial & Snap-on Repair Systems\nIndustrial Tools & Information Financial Snap-on\n(Amounts in millions) Group Group Group Services Eliminations Incorporated\nNet sales:\nNorth America* $ 494.9 $ 1,680.0 $ 896.1 $ — $ — $ 3,071.0\nEurope 325.5 164.7 249.7 — — 739.9\nAll other 275.2 93.9 72.0 — — 441.1\nExternal net sales 1,095.6 1,938.6 1,217.8 — — 4,252.0\nIntersegment net sales 310.7 — 285.3 — (596.0) —\nTotal net sales 1,406.3 1,938.6 1,503.1 — (596.0) 4,252.0\nFinancial services revenue — — — 349.7 — 349.7\nTotal revenue $ 1,406.3 $ 1,938.6 $ 1,503.1 $ 349.7 $ (596.0) $ 4,601.7\n\n\nPage 61:\n\n\nSnap-on Incorporated – Consolidated Statements of Earnings\n(Amounts in millions, except per share data) 2022 2021 2020\n$ 4,492.8 $ 4,252.0 $ 3,592.5\nCost of goods sold (2,311.7) (2,141.2) (1,844.0)\nNet sales Gross profit 2,181.1 2,110.8 1,748.5\nOperating expenses (1,239.9) (1,259.3) (1,116.6)\nOperating earnings before financial services 941.2 851.5 631.9\nFinancial services revenue 349.7 349.7 349.7\nFinancial services expenses (83.7) (77.7) (101.1)\nOperating earnings from financial services 266.0 272.0 248.6\nOperating earnings 1,207.2 1,123.5 880.5\nInterest expense (47.1) (53.1) (54.0)\nOther income (expense) – net 42.5 16.5 8.7\nEarnings before income taxes and equity earnings 1,202.6 1,086.9 835.2\nIncome tax expense (268.7) (247.0) (189.1)\nEarnings before equity earnings 933.9 839.9 646.1\nEquity earnings, net of tax — 1.5 0.3\nNet earnings 933.9 841.4 646.4\nNet earnings attributable to noncontrolling interests (22.2) (20.9) (19.4)\nNet earnings attributable to Snap-on Incorporated $ 911.7 $ 820.5 $ 627.0\nNet earnings per share attributable to Snap-on Incorporated:\nBasic $ 17.14 $ 15.22 $ 11.55\nDiluted 16.82 14.92 11.44\nWeighted-average shares outstanding:\nBasic 53.2 53.9 54.3\nEffect of dilutive securities 1.0 1.1 0.5\nDiluted 54.2 55.0 54.8\n\n\nPage 31:\n\n\n(Amounts in millions) 2022 2021 Change\nNet sales $ 4,492.8 100.0 % $ 4,252.0 100.0 % $ 240.8 5.7 %\nCost of goods sold (2,311.7) (51.5) % (2,141.2) (50.4) % (170.5) (8.0) %\nGross profit 2,181.1 48.5 % 2,110.8 49.6 % 70.3 3.3 %\nOperating expenses (1,239.9) (27.6) % (1,259.3) (29.6) % 19.4 1.5 %\nOperating earnings before financial services 941.2 20.9 % 851.5 20.0 % 89.7 10.5 %\nFinancial services revenue 349.7 100.0 % 349.7 100.0 % — —\nFinancial services expenses (83.7) (23.9) % (77.7) (22.2) % (6.0) (7.7) %\nOperating earnings from financial services 266.0 76.1 % 272.0 77.8 % (6.0) (2.2) %\nOperating earnings 1,207.2 24.9 % 1,123.5 24.4 % 83.7 7.4 %\nInterest expense (47.1) (1.0) % (53.1) (1.2) % 6.0 11.3 %\nOther income (expense) – net 42.5 0.9 % 16.5 0.4 % 26.0 NM\nEarnings before income taxes and equity\nearnings 1,202.6 24.8 % 1,086.9 23.6 % 115.7 10.6 %\nIncome tax expense (268.7) (5.5) % (247.0) (5.3) % (21.7) (8.8) %\nEarnings before equity earnings 933.9 19.3 % 839.9 18.3 % 94.0 11.2 %\nEquity earnings, net of tax — — 1.5 — (1.5) NM\nNet earnings 933.9 19.3 % 841.4 18.3 % 92.5 11.0 %\nNet earnings attributable to noncontrolling\ninterests (22.2) (0.5) % (20.9) (0.5) % (1.3) (6.2) %",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_revenue",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "$4,492.8 million",
      "golden_context": "Net sales of $4,492.8 million in 2022 increased $240.8 million, or 5.7%, from 2021 levels, reflecting a $357.2 million, or 8.7%,\norganic gain and $8.5 million of acquisition-related sales, partially offset by $124.9 million of unfavorable foreign currency\ntranslation.\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_revenue_growth",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "5.7%",
      "golden_context": "Page 3:\n\nOur performance in 2022 was once again encouraging as\nit reflects our ongoing and upward operating momentum,\nand confirms the resilience of our markets in the continued\nturbulence. Net sales of $4,492.8 million, the highest in our\nlong history, increased $240.8 million, or 5.7%, including\na $357.2 million, or 8.7%, organic sales1 gain and $8.5\nmillion of acquisition-related sales, partially offset by $124.9\nmillion of unfavorable foreign currency translation. With\nrespect to our end markets, sales in our automotive repair\nsector were robust, and our industrial sector was strong but\nsomewhat attenuated by lower activity with the military.\nFrom a geographic perspective, growth was mixed, with\nsignificant gains in North America, but lower year-over-yea\n\nPage 31:\n\nNet sales of $4,492.8 million in 2022 increased $240.8 million, or 5.7%, from 2021 levels, reflecting a $357.2 million, or 8.7%,\norganic gain and $8.5 million of acquisition-related sales, partially offset by $124.9 million of unfavorable foreign currency\ntranslation.\n\nPage 29:\n\nConsolidated net sales of $4,492.8 million in 2022 increased $240.8 million, or 5.7%, from 2021 levels, reflecting a $357.2\nmillion, or 8.7%, organic gain and $8.5 million of acquisition-related sales, partially offset by $124.9 million of unfavorable\nforeign currency translation.\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000372_segments",
      "report_id": "ID_000372",
      "company_name": "Snap-on",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Four segments: \n\n\nCommercial & Industrial Group, \n\n\nSnap-on Tools Group, \n\n\nRepair Systems & Information Group, \n\n\nFinancial Services",
      "golden_context": "Page 113: \n\nFinancial Data by Segment (continued):\n(Amounts in millions) 2022 2021\nAssets:\nCommercial & Industrial Group $ 1,245.8 $ 1,209.3\nSnap-on Tools Group 912.9 791.4\nRepair Systems & Information Group 1,678.1 1,624.3\nFinancial Services 2,242.7 2,163.6\nTotal assets from reportable segments 6,079.5 5,788.6\nCorporate 972.9 1,039.7\nElimination of intersegment receivables (79.6) (68.6)\nTotal assets $ 6,972.8 $ 6,759.7\n(Amounts in millions) 2022 2021 2020\nCapital expenditures:\nCommercial & Industrial Group $ 26.0 $ 24.3 $ 20.3\nSnap-on Tools Group 35.0 27.1 24.2\nRepair Systems & Information Group 18.3 15.4 14.7\nFinancial Services 1.1 0.8 0.8\nTotal from reportable segments 80.4 67.6 60.0\nCorporate 3.8 2.5 5.6\nTotal capital expenditures $ 84.2 $ 70.1 $ 65.6\nDepreciation and amortization:\nCommercial & Industrial Group $ 26.1 $ 28.2 $ 25.1\nSnap-on Tools Group 29.3 31.2 32.7\nRepair Systems & Information Group 40.1 40.9 34.6\nFinancial Services 0.9 0.9 0.7\nTotal from reportable segments 96.4 101.2 93.1\nCorporate 3.8 3.6 3.6\nTotal depreciation and amortization $ 100.2 $ 104.8 $ 96.7\nRevenues by geographic region:*\nUnited States $ 3,465.4 $ 3,153.0 $ 2,772.3\nEurope 723.3 808.5 677.5\nAll other 653.8 640.2 492.4\nTotal revenues $ 4,842.5 $ 4,601.7 $ 3,942.2\n(Amounts in millions) 2022 2021\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_cash_flow",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1154.2m, investing: -331.8m, finaincing: -572.9m",
      "golden_context": "Page 43:\n\nf $1,235.5 million in 2023 represented an increase of $82.4 million, or 7.1%, from 2022 levels. Operating earnings from\nfinancial services of $270.5 million in 2023 compared to $266.0 million last year.\nFinancial Services intends to focus on the following strategic priorities in 2024:\n• Delivering financial products and services that attract and sustain profitable franchisees and support Snap-on’s\nstrategies for expanding market coverage and penetration;\n• Improving productivity levels and ensuring high quality in all financial products and processes through the use of RCI\ninitiatives; and\n• Maintaining healthy portfolio performance levels.\nCash Flows\nNet cash provided by operating activities of $1,154.2 million in 2023 compared to $675.2 million in 2022. The $479.0 million\nincrease is primarily due to a $352.9 million change in net operating assets and liabilities, and a $100.7 million increase in net\nearnings.\nNet cash used by investing activities of $331.8 million in 2023 included additions to finance receivables of $1,029.0 million,\nwhich were partially offset by collections of $833.5 million, as well as a use of cash of $42.6 million for the acquisitions of\nMountz and SAVTEQ. Net cash used by investing activities of $206.2 million in 2022 included additions to finance receivables\nof $955.8 million, partially offset by collections of $826.9 million, as well as $0.5 million of cash provided by acquisitions.\nCapital expenditures in 2023 and 2022 totaled $95.0 million and $84.2 million, respectively. Capital expenditures in both years\nincluded continued investments related to the company’s execution of its strategic growth initiatives and Value Creation\nProcesses around safety, quality, customer connection, innovation and RCI.\nNet cash used by financing activities of $572.9 million in 2023 included $355.6 million for dividend payments to shareholders,\n$294.7 million for the repurchase of 1,126,000 shares of Snap-on’s common stock, and net repayments of other short-term\nborrowings of $1.7 million. These amounts were partially offset by $113.6 million of proceeds from stock purchase plan and\nstock option exercises. Net cash used by financing activities of $485.0 million in 2022 included $313.1 million for dividend\npayments to shareholders and $198.1 million for the repurchase of 899,000 shares of Snap-on’s common stock. These amounts\nwere partially offset by $55.0 million of proceeds from stock purchase plan and stock option exercises and net proceeds from\nother short-term borrowings of $1.6 million.\n2023 ANNUAL REPORT",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_company_type",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Incorporated",
      "golden_context": "Page 13:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 30, 2023, or\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nCommission File Number 1-7724\nSnap-on Incorporated\n(Exact name of registrant as specified in its charter)\nDelaware 39-0622040\n(State of incorporation) (I.R.S. Employer Identification No.)\n2801 80th Street Kenosha Wisconsin (Address of principal executive offices) 53143\n(Zip code)\nTitle of each class Common Stock, $1.00 par value (262) 656-5200\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nSNA New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐\nSmaller reporting company ☐ Emerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of voting and non-voting common equity held by non-affiliates (excludes 954,861 shares held by directors and\nexecutive officers) computed by reference to the price ($288.19) at which common equity was last sold as of the last business day of the\nregistrant’s most recently completed second fiscal quarter (July 1, 2023) was $15.0 billion.\nThe number of shares of Common Stock ($1.00 par value) of the registrant outstanding as of February 9, 2024, was 52,713,542 shares.\nDOCUMENTS INCORPORATED BY REFERENCE\nPart III of this Annual Report on Form 10-K incorporates by reference certain information that will be set forth in Snap-on’s Proxy Statement,\nwhich is expected to first be mailed to shareholders on or about March 12, 2024, prepared for the Annual Meeting of Shareholders scheduled",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_key_financials",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net sales of 4730.2m, diluted EPS 18.76",
      "golden_context": "Page 5:\n\nSnap-on is rooted in the critical. We make work easier,\noffering solutions for essential tasks where the penalties\nfor failure are high. We connect with our customers,\nworking men and women, developing further advantages\nin our products, meeting the needs of rapidly changing\nworkplaces. And, we enable the makers and fixers who\nperform day in and day out to move the world forward...\na focus that continues to be of particular and essential\nrelevance in the circumstances of today.\nIn 2023, we again demonstrated our diverse and abundant\nopportunities, confirmed the resilience of our markets, and\nhighlighted the considerable capabilities of our experienced\nteam to overcome the demands of a varied environment.\nDespite the economic uncertainties, regional conflicts, and\na dynamic global supply chain, we believe Snap-on is firmly\npositioned to engage the turbulence and to rise on a steady\nupward trajectory into the future by leveraging the power of our\nadvantages...our formidable array of innovative products, our\nstrong brand position, and our challenge-tested teams... and\nby enabling our ability to improve day by day, authored\nby kaizen, by technology, and by training.\nSince our founding in 1920, our principal value-creating\nmechanism has been to observe work and translate the\ninsights gained into creative solutions that make essential\ntasks easier. Opportunities to leverage this approach, both\nwithin and beyond vehicle repair, are embodied in our\nrunways for growth: enhance the franchise network; expand\nwith repair shop owners and managers; extend to critical\nindustries, and build in emerging markets. In 2023, we\ncontinued investing in each of these strategically decisive\nareas, positioning Snap-on for ongoing growth, increasing\nprofitability, and rising prosperity for years to come.\nAt the same time, we’re enabled by our runways for\nimprovement, applying our Snap-on Value Creation\nProcesses, a suite of principles we use every day in the areas\nof safety, quality, customer connection, innovation, and\nrapid continuous improvement (RCI). The contributions of\nthese efforts were evident in many ways throughout 2023.\nFor example, we again received recognition for a number of\nour new products, earning awards from both Motor Magazine\nand Professional Tool & Equipment News, reflecting our\nstrong commitment to customer connection and exhibiting\nour ability to convert the associated insights into winning\ninnovations. On another note, since it was established in\n2005, Snap-on’s RCI framework, a structured set of tools\nused across the company to eliminate waste and improve\noperations, has contributed significantly in advancing our\noperating margin. Over these last 18 years, our operating\nmargin before financial services has improved by a total of\n1,550 basis points, or approximately 85 basis points, on\naverage, per year.\nWe were encouraged by our 2023 performance as it reflects\nour upward momentum and aligns with our longer-term\nexpectations of mid single-digit annual sales growth and\nongoing increases in profitability. Net sales of $4,730.2\nmillion reflected an increase from 2022 levels of $237.4\nmillion, or 5.3%, including a $250.7 million, or 5.6%, organic\nsales¹ gain. With respect to our end markets, sales in our\nindustrial sector were robust, and activity in our automotive\nrepair sector was strong, despite being attenuated by lower\n¹ Organic sales in a non-GAAP financial measure that excludes acquisition-related sales and the impact of foreign currency translation.\n3\noverall growth in our franchise business. From a geographic\nperspective, sales gains in North America and Europe were\ngenerally in line with the total growth of the company, while\nsomewhat lower year-over-year volumes in Asia were offset by\nhigher progress in other rest-of-world markets. During the\nyear, many geographies, including those in Europe, recovered\nfrom the protracted effects of COVID. At the same time,\ncertain markets in Asia, including China, continued to be\nafflicted by economic and political turbulence. Over the year,\nhowever, having navigated the operational and geographical\ndifferences, our collective business demonstrated clear\nmomentum along a sustained upward trend.\nWith respect to profitability, increased activity and the\noperating improvement driven by our Snap-on Value Creation\nProcesses delivered diluted earnings per share of $18.76, up\n11.5% from 2022. Operating margin before financial services\nof 22.0% represented an improvement of 110 basis points\nfrom 20.9% in 2022, with the benefits of higher sales volumes\nand pricing actions, along with lower material costs and RCI,\novercoming increased personnel and other expenses. The\noverall company operating margin, including financial services,\nof 25.7% in 2023 compared to 24.9% last year.\nOur Commercial & Industrial (C&I) Group serves a broad\nrange of customers, including professionals in critical\nindustries and emerging markets, primarily through direct\nand distributor channels. Net sales of $1,458.3 million\nrepresented an increase of 4.2% as compared to 2022,\nreflecting a $69.7 million, or 5.0%, organic gain, $5.5\nmillion of acquisition-related sales, and $16.1 million\nof unfavorable foreign currency translation. The organic\nincrease primarily reflects gains in sales to customers in\ncritical industries. The group’s operating margin of 15.5%,\nincluding 40 basis points of unfavorable currency,\nrepresented an increase of 140 basis points from the\n14.1% registered last year.\nThe operating environment for C&I, which has our largest\ninternational presence, has generally improved, despite\ncontinued economic and political challenges across its\ngeographies. Our business with customers in critical\nindustries was particularly robust in 2023. Sales to the\nUnited States (U.S.) military were strong, and volumes in\nthe U.S. and international aviation, technical education,\nand heavy duty sectors were also up over last year. Further,\nthe significant growth was enabled by our broadening product\nlines in this arena and by our effective capacity expansion\nin our complex kitting operation. Outside of the critical\nindustries business, volumes on a more-localized level\nwere mixed. For our European-based hand tools business,\nsales were higher in Spain and the United Kingdom,\n4\nbut down in Germany and the Nordic countries, resulting\nin sales levels that were essentially flat versus last year.\nIn our Asia Pacific operations, economic turbulence in China,\na weakened yen in Japan, and recovery in India created a\nvarying landscape.\nIn November 2023, we acquired Mountz, Inc., a leading\ndeveloper, manufacturer, and ma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_revenue",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales of 4730.2m",
      "golden_context": "Page 5:\n\nSnap-on is rooted in the critical. We make work easier,\noffering solutions for essential tasks where the penalties\nfor failure are high. We connect with our customers,\nworking men and women, developing further advantages\nin our products, meeting the needs of rapidly changing\nworkplaces. And, we enable the makers and fixers who\nperform day in and day out to move the world forward...\na focus that continues to be of particular and essential\nrelevance in the circumstances of today.\nIn 2023, we again demonstrated our diverse and abundant\nopportunities, confirmed the resilience of our markets, and\nhighlighted the considerable capabilities of our experienced\nteam to overcome the demands of a varied environment.\nDespite the economic uncertainties, regional conflicts, and\na dynamic global supply chain, we believe Snap-on is firmly\npositioned to engage the turbulence and to rise on a steady\nupward trajectory into the future by leveraging the power of our\nadvantages...our formidable array of innovative products, our\nstrong brand position, and our challenge-tested teams... and\nby enabling our ability to improve day by day, authored\nby kaizen, by technology, and by training.\nSince our founding in 1920, our principal value-creating\nmechanism has been to observe work and translate the\ninsights gained into creative solutions that make essential\ntasks easier. Opportunities to leverage this approach, both\nwithin and beyond vehicle repair, are embodied in our\nrunways for growth: enhance the franchise network; expand\nwith repair shop owners and managers; extend to critical\nindustries, and build in emerging markets. In 2023, we\ncontinued investing in each of these strategically decisive\nareas, positioning Snap-on for ongoing growth, increasing\nprofitability, and rising prosperity for years to come.\nAt the same time, we’re enabled by our runways for\nimprovement, applying our Snap-on Value Creation\nProcesses, a suite of principles we use every day in the areas\nof safety, quality, customer connection, innovation, and\nrapid continuous improvement (RCI). The contributions of\nthese efforts were evident in many ways throughout 2023.\nFor example, we again received recognition for a number of\nour new products, earning awards from both Motor Magazine\nand Professional Tool & Equipment News, reflecting our\nstrong commitment to customer connection and exhibiting\nour ability to convert the associated insights into winning\ninnovations. On another note, since it was established in\n2005, Snap-on’s RCI framework, a structured set of tools\nused across the company to eliminate waste and improve\noperations, has contributed significantly in advancing our\noperating margin. Over these last 18 years, our operating\nmargin before financial services has improved by a total of\n1,550 basis points, or approximately 85 basis points, on\naverage, per year.\nWe were encouraged by our 2023 performance as it reflects\nour upward momentum and aligns with our longer-term\nexpectations of mid single-digit annual sales growth and\nongoing increases in profitability. Net sales of $4,730.2\nmillion reflected an increase from 2022 levels of $237.4\nmillion, or 5.3%, including a $250.7 million, or 5.6%, organic\nsales¹ gain. With respect to our end markets, sales in our\nindustrial sector were robust, and activity in our automotive\nrepair sector was strong, despite being attenuated by lower\n¹ Organic sales in a non-GAAP financial measure that excludes acquisition-related sales and the impact of foreign currency translation.\n3\noverall growth in our franchise business. From a geographic\nperspective, sales gains in North America and Europe were\ngenerally in line with the total growth of the company, while\nsomewhat lower year-over-year volumes in Asia were offset by\nhigher progress in other rest-of-world markets. During the\nyear, many geographies, including those in Europe, recovered\nfrom the protracted effects of COVID. At the same time,\ncertain markets in Asia, including China, continued to be\nafflicted by economic and political turbulence. Over the year,\nhowever, having navigated the operational and geographical\ndifferences, our collective business demonstrated clear\nmomentum along a sustained upward trend.\nWith respect to profitability, increased activity and the\noperating improvement driven by our Snap-on Value Creation\nProcesses delivered diluted earnings per share of $18.76, up\n11.5% from 2022. Operating margin before financial services\nof 22.0% represented an improvement of 110 basis points\nfrom 20.9% in 2022, with the benefits of higher sales volumes\nand pricing actions, along with lower material costs and RCI,\novercoming increased personnel and other expenses. The\noverall company operating margin, including financial services,\nof 25.7% in 2023 compared to 24.9% last year.\nOur Commercial & Industrial (C&I) Group serves a broad\nrange of customers, including professionals in critical\nindustries and emerging markets, primarily through direct\nand distributor channels. Net sales of $1,458.3 million\nrepresented an increase of 4.2% as compared to 2022,\nreflecting a $69.7 million, or 5.0%, organic gain, $5.5\nmillion of acquisition-related sales, and $16.1 million\nof unfavorable foreign currency translation. The organic\nincrease primarily reflects gains in sales to customers in\ncritical industries. The group’s operating margin of 15.5%,\nincluding 40 basis points of unfavorable currency,\nrepresented an increase of 140 basis points from the\n14.1% registered last year.\nThe operating environment for C&I, which has our largest\ninternational presence, has generally improved, despite\ncontinued economic and political challenges across its\ngeographies. Our business with customers in critical\nindustries was particularly robust in 2023. Sales to the\nUnited States (U.S.) military were strong, and volumes in\nthe U.S. and international aviation, technical education,\nand heavy duty sectors were also up over last year. Further,\nthe significant growth was enabled by our broadening product\nlines in this arena and by our effective capacity expansion\nin our complex kitting operation. Outside of the critical\nindustries business, volumes on a more-localized level\nwere mixed. For our European-based hand tools business,\nsales were higher in Spain and the United Kingdom,\n4\nbut down in Germany and the Nordic countries, resulting\nin sales levels that were essentially flat versus last year.\nIn our Asia Pacific operations, economic turbulence in China,\na weakened yen in Japan, and recovery in India created a\nvarying landscape.\nIn November 2023, we acquired Mountz, Inc., a leading\ndeveloper, manufacturer, and ma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_revenue_growth",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "5.3% growth",
      "golden_context": "Page 5:\n\nSnap-on is rooted in the critical. We make work easier,\noffering solutions for essential tasks where the penalties\nfor failure are high. We connect with our customers,\nworking men and women, developing further advantages\nin our products, meeting the needs of rapidly changing\nworkplaces. And, we enable the makers and fixers who\nperform day in and day out to move the world forward...\na focus that continues to be of particular and essential\nrelevance in the circumstances of today.\nIn 2023, we again demonstrated our diverse and abundant\nopportunities, confirmed the resilience of our markets, and\nhighlighted the considerable capabilities of our experienced\nteam to overcome the demands of a varied environment.\nDespite the economic uncertainties, regional conflicts, and\na dynamic global supply chain, we believe Snap-on is firmly\npositioned to engage the turbulence and to rise on a steady\nupward trajectory into the future by leveraging the power of our\nadvantages...our formidable array of innovative products, our\nstrong brand position, and our challenge-tested teams... and\nby enabling our ability to improve day by day, authored\nby kaizen, by technology, and by training.\nSince our founding in 1920, our principal value-creating\nmechanism has been to observe work and translate the\ninsights gained into creative solutions that make essential\ntasks easier. Opportunities to leverage this approach, both\nwithin and beyond vehicle repair, are embodied in our\nrunways for growth: enhance the franchise network; expand\nwith repair shop owners and managers; extend to critical\nindustries, and build in emerging markets. In 2023, we\ncontinued investing in each of these strategically decisive\nareas, positioning Snap-on for ongoing growth, increasing\nprofitability, and rising prosperity for years to come.\nAt the same time, we’re enabled by our runways for\nimprovement, applying our Snap-on Value Creation\nProcesses, a suite of principles we use every day in the areas\nof safety, quality, customer connection, innovation, and\nrapid continuous improvement (RCI). The contributions of\nthese efforts were evident in many ways throughout 2023.\nFor example, we again received recognition for a number of\nour new products, earning awards from both Motor Magazine\nand Professional Tool & Equipment News, reflecting our\nstrong commitment to customer connection and exhibiting\nour ability to convert the associated insights into winning\ninnovations. On another note, since it was established in\n2005, Snap-on’s RCI framework, a structured set of tools\nused across the company to eliminate waste and improve\noperations, has contributed significantly in advancing our\noperating margin. Over these last 18 years, our operating\nmargin before financial services has improved by a total of\n1,550 basis points, or approximately 85 basis points, on\naverage, per year.\nWe were encouraged by our 2023 performance as it reflects\nour upward momentum and aligns with our longer-term\nexpectations of mid single-digit annual sales growth and\nongoing increases in profitability. Net sales of $4,730.2\nmillion reflected an increase from 2022 levels of $237.4\nmillion, or 5.3%, including a $250.7 million, or 5.6%, organic\nsales¹ gain. With respect to our end markets, sales in our\nindustrial sector were robust, and activity in our automotive\nrepair sector was strong, despite being attenuated by lower\n¹ Organic sales in a non-GAAP financial measure that excludes acquisition-related sales and the impact of foreign currency translation.\n3\noverall growth in our franchise business. From a geographic\nperspective, sales gains in North America and Europe were\ngenerally in line with the total growth of the company, while\nsomewhat lower year-over-year volumes in Asia were offset by\nhigher progress in other rest-of-world markets. During the\nyear, many geographies, including those in Europe, recovered\nfrom the protracted effects of COVID. At the same time,\ncertain markets in Asia, including China, continued to be\nafflicted by economic and political turbulence. Over the year,\nhowever, having navigated the operational and geographical\ndifferences, our collective business demonstrated clear\nmomentum along a sustained upward trend.\nWith respect to profitability, increased activity and the\noperating improvement driven by our Snap-on Value Creation\nProcesses delivered diluted earnings per share of $18.76, up\n11.5% from 2022. Operating margin before financial services\nof 22.0% represented an improvement of 110 basis points\nfrom 20.9% in 2022, with the benefits of higher sales volumes\nand pricing actions, along with lower material costs and RCI,\novercoming increased personnel and other expenses. The\noverall company operating margin, including financial services,\nof 25.7% in 2023 compared to 24.9% last year.\nOur Commercial & Industrial (C&I) Group serves a broad\nrange of customers, including professionals in critical\nindustries and emerging markets, primarily through direct\nand distributor channels. Net sales of $1,458.3 million\nrepresented an increase of 4.2% as compared to 2022,\nreflecting a $69.7 million, or 5.0%, organic gain, $5.5\nmillion of acquisition-related sales, and $16.1 million\nof unfavorable foreign currency translation. The organic\nincrease primarily reflects gains in sales to customers in\ncritical industries. The group’s operating margin of 15.5%,\nincluding 40 basis points of unfavorable currency,\nrepresented an increase of 140 basis points from the\n14.1% registered last year.\nThe operating environment for C&I, which has our largest\ninternational presence, has generally improved, despite\ncontinued economic and political challenges across its\ngeographies. Our business with customers in critical\nindustries was particularly robust in 2023. Sales to the\nUnited States (U.S.) military were strong, and volumes in\nthe U.S. and international aviation, technical education,\nand heavy duty sectors were also up over last year. Further,\nthe significant growth was enabled by our broadening product\nlines in this arena and by our effective capacity expansion\nin our complex kitting operation. Outside of the critical\nindustries business, volumes on a more-localized level\nwere mixed. For our European-based hand tools business,\nsales were higher in Spain and the United Kingdom,\n4\nbut down in Germany and the Nordic countries, resulting\nin sales levels that were essentially flat versus last year.\nIn our Asia Pacific operations, economic turbulence in China,\na weakened yen in Japan, and recovery in India created a\nvarying landscape.\nIn November 2023, we acquired Mountz, Inc., a leading\ndeveloper, manufacturer, and ma",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000373_segments",
      "report_id": "ID_000373",
      "company_name": "Snap-on",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "(i) commercial and industrial customers, including professionals in critical\nindustries and in emerging markets; (ii) professional vehicle repair technicians who purchase products through the company’s\nmultinational mobile tool distribution network; and (iii) other professional customers related to vehicle repair, including owners\nand managers of independent service and repair shops, as well as original equipment manufacturer (“OEM”) dealership service\nand repair shops (“OEM dealerships”).",
      "golden_context": "Page 16-17:\n\n United States, Europe, Canada and Asia Pacific.\nThe company began with the development of the original Snap-on interchangeable socket set and subsequently pioneered\nmobile tool distribution in the automotive repair market, where well-stocked vans sell to professional vehicle technicians at\ntheir place of business. Today, Snap-on defines its value proposition more broadly, extending its reach “beyond the garage” to\ndeliver a broad array of unique solutions that make work easier for serious professionals. The company’s “coherent growth”\nstrategy focuses on developing and expanding its professional customer base in its legacy automotive market, as well as in\nadjacent markets, additional geographies and other areas, including in critical industries, where the cost and penalties for failure\ncan be high. In addition to its coherent growth strategy, Snap-on is committed to its “Value Creation Processes” – a set of\nstrategic principles and processes designed to create value and employed in the areas of (i) safety; (ii) quality; (iii) customer\nconnection; (iv) innovation; and (v) rapid continuous improvement (“RCI”). Snap-on’s RCI initiatives employ a structured set\nof tools and processes across multiple businesses and geographies intended to eliminate waste and improve operations. Savings\nfrom Snap-on’s RCI initiatives reflect benefits from a wide variety of ongoing efficiency, productivity and process\nimprovements, including savings generated from product design cost reductions, improved manufacturing line set-up and\nchange-over practices, lower-cost sourcing initiatives and facility consolidations.\n4 SNAP-ON INCORPORATED\nSnap-on’s primary customer segments include: (i) commercial and industrial customers, including professionals in critical\nindustries and in emerging markets; (ii) professional vehicle repair technicians who purchase products through the company’s\nmultinational mobile tool distribution network; and (iii) other professional customers related to vehicle repair, including owners\nand managers of independent service and repair shops, as well as original equipment manufacturer (“OEM”) dealership service\nand repair shops (“OEM dealerships”). Snap-on’s Financial Services customer segment includes: (i) franchisees’ customers,\nprincipally serving vehicle repair technicians, and Snap-on customers who require financing for the purchase or lease of tools,\ndiagnostics, and equipment products on an extended-term payment plan; and (ii) franchisees who require financing options for\nvehicle and business needs.\nSnap-on’s business segments are based on the organization structure used by management for making operating and investment\ndecisions and for assessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group;\n(ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial &\nIndustrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide,\nincluding customers in the aerospace, natural resources, government and military, power generation, transportation and\ntechnical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The\nSnap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the\ncompany’s multinational mobile tool distribution channel. The Repair Systems & Information Group consists of business\noperations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair\nshops and OEM dealerships, through direct and distributor channels. Financial Services consists of the business operations of\nSnap-on Credit LLC (“SOC”), the company’s financial services business in the United States, and Snap-on’s other financial\nservices subsidiaries in those international markets where Snap-on has franchise operations. See Note 19 to the Consolidated\nFinancial Statements for information on business segments and foreign operations.\nSnap-on evaluates the performance of its operating segments based on segment revenues and segment operating earnings. The\nSnap-on Tools Group segment revenues include external net sales, while the Commercial & Industrial Group and the Repair\nSystems & Information Group segment revenues include both external and intersegment net sales. Snap-on accounts for\nintersegment net sales and tr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_cash_flow",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1667m, investing: 313m, financing: -1086m",
      "golden_context": "Page 51:\n\nunsecured, senior obligations of ours and have substantially identical terms and covenants to the Existing Cimarex Notes (before giving effect to the\namendments referred to in the immediately preceding sentence), which we believe are customary for senior, unsecured notes issued by companies of similar size and\ncredit quality as compared to us. The New Coterra Notes consist of $706 million aggregate principal amount of 4.375% Senior Notes due 2024, $687 million aggregate\nprincipal amount of 3.90% Senior Notes due 2027 and $433 million aggregate principal amount of 4.375% Senior Notes due 2029.\nOur debt is currently rated as investment grade by the three leading rating agencies. In determining our debt ratings, the agencies consider a number of qualitative\nand quantitative items including, but not limited to, current commodity prices, our liquidity position, our asset quality and reserve mix, debt levels, cost structure and\ngrowth plans. Credit ratings are not recommendations to buy, sell, or hold securities and may be subject to revision or withdrawal at any time by the assigning rating\nagency. There are no “rating triggers” in any of our debt agreements that would accelerate the scheduled maturities should our debt rating fall below a certain level.\nHowever, a change in our debt rating could impact our interest rate on any borrowings under our revolving credit facility and our ability to economically access debt\nmarkets in the future and could trigger the requirement to post credit support under various agreements, which could reduce the borrowing capacity under our revolving\ncredit facility.\nAt December 31, 2021, we were in compliance with all financial covenants for both our revolving credit facility and senior notes. Refer to Note 4 of the Notes to\nthe Consolidated Financial Statements, “Debt and Credit Agreements,” for further details regarding financial covenants.\nAs market conditions warrant and subject to our contractual restrictions, liquidity position and other factors, we may from time to time seek to repurchase or retire\nour outstanding debt through cash purchases and/or exchanges for other debt or equity securities in open market transactions, privately negotiated transactions, by tender\noffer or otherwise. Any such cash repurchases by us may be funded by cash on hand or incurring new debt. The amounts involved in any such transactions, individually\nor in the aggregate, may be material.\nCash Flows\nOur cash flows from operating activities, investing activities and financing activities are as follows:\nYear Ended December 31,\n(In millions) 2021 2020 2019\nCash flows provided by operating activities $ 1,667 $ 778 $ 1,445\nCash flows provided by (used in) investing activities 313 (584) (543)\nCash flows used in financing activities (1,086) (256) (690)\nOperating Activities. Operating cash flow fluctuations are substantially driven by changes in commodity prices, production volumes and operating expenses.\nCommodity prices have historically been volatile, primarily as a result of supply and demand for oil and natural gas, pipeline infrastructure constraints, basis\ndifferentials, inventory storage levels, seasonal influences and other factors. In addition, fluctuations in cash flow may result in an increase or decrease in our capital\nexpenditures.\nOn October 1, 2021, we and Cimarex completed the Merger. Although we expect to achieve certain general and administrative expense synergies over the long-\nterm through cost savings, in the near-term we will incur certain Merger-related restructuring cost cash outflows ranging from $100 million to $110 million. These\npayments will primarily relate to workforce reductions and the associated employee severance benefits, and the acceleration of employee benefits that were triggered by\nthe Merger.\nOur working capital is substantially influenced by the variables discussed above and fluctuates based on the timing and amount of borrowings and repayments\nunder our revolving credit facility, repayments of debt, the timing of cash collections and payments on our trade accounts receivable and payable, respectively, payment\nof dividends, repurchases of our securities and changes in the fair value of our commodity derivative activity. From time to time, our working capital will reflect a\ndeficit, while at other times it will reflect a surplus. This fluctuation is not unusual. At December 31, 2021 and 2020, we had a working capital surplus of $916 million\nand $26 million, respectively. We believe we have adequate liquidity and availability under our revolving credit facility to meet our working capital requirements over\nthe next 12 months.\nNet cash provided by operating activities in 2021 increased by $889 million compared to 2020. This increase was primarily due to higher natural gas, oil and NGL\nrevenue, partially offset by higher operating expenses, higher cash paid on derivative settlements and unfavorable changes in working capital and other assets and\nliabilities. The increase in natural gas,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_company_type",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D. C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nCommission file number 1-10447\nCOTERRA ENERGY INC.\n(Exact name of registrant as specified in its charter)\nDelaware 04-3072771\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification Number)\nThree Memorial City Plaza,\n840 Gessner Road, Suite 1400, Houston, Texas 77024\n(Address of principal executive offices including ZIP code)\n(281) 589-4600\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading Symbol(s) Name of each exchange on which registered\nCommon Stock, par value $0.10 per share CTRA New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth\n☐\ncompany\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of Common Stock, par value $.10 per share (“Common Stock”), held by non-affiliates as of the last business day of registrant's most recently\ncompleted second fiscal quarter (based upon the closing sales price on the New York Stock Exchange on June 30, 2021) was approximately $6.9 billion.\nAs of February 24, 2022, there were 813,757,948 shares of Common Stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Proxy Statement for the Annual Meeting of Stockholders to be held April 29, 2022 are incorporated by reference into Part III of this report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_key_financials",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 3449m, net income: 1158m, EPS basic: 2.3",
      "golden_context": "Page 71:\n\nCOTERRA ENERGY INC.\nCONSOLIDATED STATEMENT OF OPERATIONS\nYear Ended December 31,\n(In millions, except per share amounts) 2021 2020 2019\nOPERATING REVENUES\nNatural gas $ 2,798 $ 1,405 $ 1,985\nOil 616 — —\nNGL 243 — —\n(Loss) gain on derivative instruments (221) 61 81\nOther 13 — —\n3,449 1,466 2,066\nOPERATING EXPENSES\nDirect operations 156 73 77\nTransportation, processing and gathering 663 571 575\nTaxes other than income 83 14 17\nExploration 18 15 20\nDepreciation, depletion and amortization 693 391 406\nGeneral and administrative 270 106 95\n1,883 1,170 1,190\nEarnings on equity method investments — — 81\nLoss on sale of assets (2) — (1)\nINCOME FROM OPERATIONS 1,564 296 956\nInterest expense, net 62 54 55\nOther expense — — 1\nIncome before income taxes 1,502 242 900\nIncome tax expense 344 41 219\nNET INCOME $ 1,158 $ 201 $ 681\nEarnings per share\nBasic $ 2.30 $ 0.50 $ 1.64\nDiluted $ 2.29 $ 0.50 $ 1.63\nWeighted-average common shares outstanding\nBasic 503 399 416\nDiluted 504 401 418\nThe accompanying notes are an integral part of these consolidated financial statements.\n\nPage 58:\n\nRESULTS OF OPERATIONS\n2021 and 2020 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) 2021 2020 Amount Percent\nNatural gas $ 2,798 $ 1,405 $ 1,393 99 %\nOil 616 — 616 N/A\nNGL 243 — 243 N/A\n(Loss) gain on derivative instruments (221) 61 (282) (462)%\nOther 13 — 13 N/A\n$ 3,449 $ 1,466 $ 1,983 135 %\nProduction Revenues\nOur production revenues vary from year to year and are derived from sales of our oil, natural gas and NGL production. Our 2021 production revenues were\nsubstantially increased due to the Merger, which significantly expanded our operations to include the Permian and Anadarko Basins. Increases or decreases in our\nrevenues, profitability and future production growth are highly dependent on the commodity prices we receive. Commodity prices are market driven and we expect\nfuture prices to be volatile due to supply and demand factors, pipeline capacity, seasonality and geopolitical, economic and other factors.\nBelow is a discussion of our production revenue, price and volume variances.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease)\n2021 2020 Amount Percent\n(In millions)\nVolume variance (Bcf) 911.1 857.7 53.4 6 % $ 164\nPrice variance ($/Mcf) $ 3.07 $ 1.64 $ 1.43 87 % 1,229\nTotal $ 1,393\nNatural gas revenues increased $1.4 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in production\nwas primarily driven by an increase in fourth quarter production due to the Merger.\nOil Revenues\nOil revenues increased $616 million primarily due to the Merger.\nNGL Revenues\nNGL revenues increased $243 million primarily due to the Merger.\n(Loss) Gain on Derivative Instruments\nNet gains and losses on our derivative instruments are a function of fluctuations in the underlying commodity index prices as compared to the contracted prices\nand the monthly cash settlements (if any) of the instruments. We have elected not to designate our derivatives as hedging instruments for accounting purposes and,\ntherefore, we do not apply hedge accounting treatment to our derivative instruments. Consequently, changes in the fair value of our derivative instruments and cash\nsettlements on the instruments are included as a component of operating revenues as either a net gain or loss on derivative instruments. Cash settlements of our contracts\nare included in cash flows from operating activities ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_revenue",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Operating revenues: 3449m",
      "golden_context": "Page 58:\n\nRESULTS OF OPERATIONS\n2021 and 2020 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) 2021 2020 Amount Percent\nNatural gas $ 2,798 $ 1,405 $ 1,393 99 %\nOil 616 — 616 N/A\nNGL 243 — 243 N/A\n(Loss) gain on derivative instruments (221) 61 (282) (462)%\nOther 13 — 13 N/A\n$ 3,449 $ 1,466 $ 1,983 135 %\nProduction Revenues\nOur production revenues vary from year to year and are derived from sales of our oil, natural gas and NGL production. Our 2021 production revenues were\nsubstantially increased due to the Merger, which significantly expanded our operations to include the Permian and Anadarko Basins. Increases or decreases in our\nrevenues, profitability and future production growth are highly dependent on the commodity prices we receive. Commodity prices are market driven and we expect\nfuture prices to be volatile due to supply and demand factors, pipeline capacity, seasonality and geopolitical, economic and other factors.\nBelow is a discussion of our production revenue, price and volume variances.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease)\n2021 2020 Amount Percent\n(In millions)\nVolume variance (Bcf) 911.1 857.7 53.4 6 % $ 164\nPrice variance ($/Mcf) $ 3.07 $ 1.64 $ 1.43 87 % 1,229\nTotal $ 1,393\nNatural gas revenues increased $1.4 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in production\nwas primarily driven by an increase in fourth quarter production due to the Merger.\nOil Revenues\nOil revenues increased $616 million primarily due to the Merger.\nNGL Revenues\nNGL revenues increased $243 million primarily due to the Merger.\n(Loss) Gain on Derivative Instruments\nNet gains and losses on our derivative instruments are a function of fluctuations in the underlying commodity index prices as compared to the contracted prices\nand the monthly cash settlements (if any) of the instruments. We have elected not to designate our derivatives as hedging instruments for accounting purposes and,\ntherefore, we do not apply hedge accounting treatment to our derivative instruments. Consequently, changes in the fair value of our derivative instruments and cash\nsettlements on the instruments are included as a component of operating revenues as either a net gain or loss on derivative instruments. Cash settlements of our contracts\nare included in cash flows from operating activities ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_revenue_growth",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues: 3449m, prior year 1466m",
      "golden_context": "Page 58:\n\nRESULTS OF OPERATIONS\n2021 and 2020 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) 2021 2020 Amount Percent\nNatural gas $ 2,798 $ 1,405 $ 1,393 99 %\nOil 616 — 616 N/A\nNGL 243 — 243 N/A\n(Loss) gain on derivative instruments (221) 61 (282) (462)%\nOther 13 — 13 N/A\n$ 3,449 $ 1,466 $ 1,983 135 %\nProduction Revenues\nOur production revenues vary from year to year and are derived from sales of our oil, natural gas and NGL production. Our 2021 production revenues were\nsubstantially increased due to the Merger, which significantly expanded our operations to include the Permian and Anadarko Basins. Increases or decreases in our\nrevenues, profitability and future production growth are highly dependent on the commodity prices we receive. Commodity prices are market driven and we expect\nfuture prices to be volatile due to supply and demand factors, pipeline capacity, seasonality and geopolitical, economic and other factors.\nBelow is a discussion of our production revenue, price and volume variances.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease)\n2021 2020 Amount Percent\n(In millions)\nVolume variance (Bcf) 911.1 857.7 53.4 6 % $ 164\nPrice variance ($/Mcf) $ 3.07 $ 1.64 $ 1.43 87 % 1,229\nTotal $ 1,393\nNatural gas revenues increased $1.4 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in production\nwas primarily driven by an increase in fourth quarter production due to the Merger.\nOil Revenues\nOil revenues increased $616 million primarily due to the Merger.\nNGL Revenues\nNGL revenues increased $243 million primarily due to the Merger.\n(Loss) Gain on Derivative Instruments\nNet gains and losses on our derivative instruments are a function of fluctuations in the underlying commodity index prices as compared to the contracted prices\nand the monthly cash settlements (if any) of the instruments. We have elected not to designate our derivatives as hedging instruments for accounting purposes and,\ntherefore, we do not apply hedge accounting treatment to our derivative instruments. Consequently, changes in the fair value of our derivative instruments and cash\nsettlements on the instruments are included as a component of operating revenues as either a net gain or loss on derivative instruments. Cash settlements of our contracts\nare included in cash flows from operating activities ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000374_segments",
      "report_id": "ID_000374",
      "company_name": "Coterra",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "The Company operates in one segment, oil and natural gas development, exploration and production. ",
      "golden_context": "Page 75:\n\nNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS\n1. Summary of Significant Accounting Policies\nBasis of Presentation and Nature of Operations\nCoterra Energy Inc. and its subsidiaries (“Coterra” or the “Company”) are engaged in the development, exploration and production of oil, natural gas and NGLs\nexclusively within the continental U.S. The Company's exploration and development activities are concentrated in areas with known hydrocarbon resources, which are\nconducive to multi-well, repeatable drilling programs.\nThe Company operates in one segment, oil and natural gas development, exploration and production. The Company's oil and gas properties are managed as a\nwhole rather than through discrete operating segments. Operational information is tracked by geographic area; however, financial performance is assessed as a single\nenterprise and not on a geographic basis. Allocation of resources is made on a project basis across the Company's entire portfolio without regard to geographic areas.\nThe consolidated financial statements include the accounts of the Company and its subsidiaries after eliminating all significant intercompany balances and\ntransactions. Certain reclassifications have been made to prior year statements to conform with the current year presentation. These reclassifications have no impact on\npreviously reported stockholders' equity, net income or cash flows.\nThe Company (formerly known as Cabot Oil & Gas Corporation) and Cimarex Energy Co. (“Cimarex”) completed a merger transaction on October 1, 2021 (the\n“Merger”), pursuant to an agreement entered into by the Company and Cimarex (the “Merger Agreement”). Upon the effectiveness of the Merger, each eligible share of\nCimarex common stock was automatically converted into the right to receive 4.0146 shares of the Company’s common stock. The transaction has been accounted for\nusing the acquisition method of accounting, with the Company being treated as the accounting acquirer. Refer to Note 2, “Acquisitions,” for further information.\nAdditionally, on October 1, 2021, Cabot Oil & Gas Corporation changed its name to Coterra Energy Inc.\nRecently Issued and Adopted Accounting Pronouncements\nConvertible Instruments. In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06,\nDebt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for\nConvertible Instruments and Contracts in an Entity’s Own Equity (\"ASU 2020-06\"), which simplifies the accounting for convertible instruments by removing the\nseparation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, a convertible\ndebt instrument will be accounted for as a single liability measured at its amortized cost. ASU 2020-06 also requires the application of the if-converted method for\ncalculating diluted earnings per share for all convertible instruments and the treasury stock method will no longer be available. For public companies, the guidance is\neffective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted in the first quarter of 2021. The\nCompany elected to adopt the guidance in ASU 2020-06 as of October 1, 2021. The adoption of ASU 2020-06 did not have any effect on the Company’s financial\npositions, results of operations or cash flows; however, it modified certain disclosures, which were not material.\nSignificant Accounting Policies\nCash and Cash Equivalents\nThe Company considers all highly liquid short-term investments with a maturity of three months or less and deposits in money market funds that are readily\nconvertible to cash to be cash equivalents. Cash and cash equivalents were primarily concentrated in four financial institutions at December 31, 2021. The Company\nperiodically assesses the financial condition of its financial institutions and considers any possible credit risk to be minimal.\nFrom time to time, the Company may be in the position of a book overdraft in which outstanding checks exceed cash and cash equivalents. The Company\nclassifies book overdrafts in accounts payable in the Consolidated Balance Sheet, and classifies the change in accounts payable associated with book overdrafts as an\noperating activity in the Consolidated Statement of Cash Flows. There was no book overdraft within accounts payable as of December 31, 2021 and 2020.\n75",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_cash_flow",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 5456m, investing: -1674m, financing: -4145m",
      "golden_context": "Page 42:\n\nCash Flows\nOur cash flows from operating activities, investing activities and financing activities are as follows:\nYear Ended December 31,\n(In millions) 2022 2021 2020\nCash flows provided by operating activities $ 5,456 $ 1,667 $ 778\nCash flows (used in) provided by investing activities (1,674) 313 (584)\nCash flows used in financing activities (4,145) (1,086) (256)\nOperating Activities. Net cash provided by operating activities in 2022 increased by $3.8 billion compared to 2021. This increase was primarily due to higher\nnet income as a result of higher natural gas, oil and NGL revenue, partially offset by higher operating expenses, higher cash paid on derivative settlements and\nunfavorable changes in working capital and other assets and liabilities. The increase in natural gas, oil and NGL revenue was primarily due to increased production\nas a result of the Merger and an overall increase in commodity prices. Average oil and natural gas prices increased by $18.86 per Bbl and $2.27 per Mcf,\nrespectively, and average NGL prices decreased $0.60 per Bbl in 2022 compared to 2021.\nOn October 1, 2021, we and Cimarex completed the Merger. Although we expect to achieve certain general and administrative expense synergies over the\nlong-term through cost savings, in the near-term we will continue to incur certain severance costs related to the Merger, which in total are expected to range from\n$100 million to $110 million. These payments will primarily relate to workforce reductions and the associated employee severance benefits. As of December 31,\n2022, we have incurred approximately $96 million of employee severance benefits.\nRefer to “Results of Operations” for additional information relative to commodity price, production and operating expense fluctuations. We are unable to\npredict future commodity prices and, as a result, cannot provide any assurance about future levels of net cash provided by operating activities.\nInvesting Activities. Cash flows used in investing activities increased by $2.0 billion from 2021 to 2022. The increase was primarily due to $982 million of\nhigher capital expenditures as a result of our expanded operations after the Merger and $1.0 billion of cash held by Cimarex that was subsequently reflected on our\nbalance sheet after consummation of the Merger in 2021.\nFinancing Activities. Cash flows used in financing activities increased by $3.1 billion from 2021 to 2022. The increase was due to $1.3 billion of higher share\nrepurchases during 2022, $1.2 billion of higher dividend payments in 2022 compared to 2021, and $686 million higher net repayments of debt. These increases were\npartially offset by $89 million lower tax withholding payments related to share-based awards that vested as a result of the Merger.\nRevolving Credit Facility\nWe had $1.5 billion of capacity on our revolving credit facility at December 31, 2022. The revolving credit facility is scheduled to mature in April 2024,\nsubject to extension up to one year if certain conditions are met. Our revolving credit facility bears interest at a margin above rates offered by certain designated\nbanks in the London interbank market or at a margin above the overnight federal funds rate or prime rates by certain designated banks in the U.S. Additionally, our\nrevolving credit facility includes certain customary covenants, including a covenant limiting our borrowing capacity based on our leverage ratio. Our revolving\ncredit facility also requires us to maintain a leverage ratio of no more than 3.0 to 1.0 until such time as we have no other debt outstanding that has a financial\nmaintenance covenant based on a leverage ratio, and thereafter requires us to maintain a ratio of total debt to total capitalization of no more than 65 percent. At\nDecember 31, 2022, we were in compliance with all financial covenants for our revolving credit facility, and had no borrowings outstanding under our revolving\ncredit facility. Refer to Note 4 of the Notes to the Consolidated Financial Statements,\n“Long-Term Debt and Credit Agreements,\n” for further details regarding the\ninterest rate on future borrowings under the revolving credit facility and our leverage ratio.\nCertain Restrictive Covenants\nOur ability to incur debt, incur liens, pay dividends, repurchase or redeem our equity interests, redeem our senior notes, make certain types of investments,\nenter into mergers, sell assets, enter into",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_company_type",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D. C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nCommission file number 1-10447\nCOTERRA ENERGY INC.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n04-3072771\n(I.R.S. Employer\nIdentification Number)\nThree Memorial City Plaza,\n840 Gessner Road, Suite 1400, Houston, Texas 77024\n(Address of principal executive offices including ZIP code)\n(281) 589-4600\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.10 per share Trading Symbol(s) CTRA Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth\n☐\ncompany\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the\ncorrection of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the\nregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of Common Stock, par value $0.10 per share (“Common Stock”), held by non-affiliates as of the last business day of registrant’s most recently\ncompleted second fiscal quarter (based upon the closing sales price on the New York Stock Exchange on June 30, 2022) was approximately $20.2 billion.\nAs of February 24, 2023, there were 768,258,911 shares of Common Stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Proxy Statement for the Annual Meeting of Stockholders to be held May 4, 2023 are incorporated by reference into Part III of this report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_key_financials",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 9051m, net income: 4065m, EPS basic 5.09",
      "golden_context": "Page 60:\n\nCOTERRA ENERGY INC.\nCONSOLIDATED STATEMENT OF OPERATIONS\nYear Ended December 31,\n(In millions, except per share amounts) 2022 2021 2020\nOPERATING REVENUES\nNatural gas $ 5,469 $ 2,798 $ 1,405\nOil 3,016 616\n—\nNGL 964 243\n—\n(Loss) gain on derivative instruments (463) (221) 61\nOther 65 13\n—\n9,051 3,449 1,466\nOPERATING EXPENSES\nDirect operations 460 156 73\nTransportation, processing and gathering 955 663 571\nTaxes other than income 366 83 14\nExploration 29 18 15\nDepreciation, depletion and amortization 1,635 693 391\nGeneral and administrative 396 270 106\n3,841 1,883 1,170\nLoss on sale of assets (1) (2) —\nINCOME FROM OPERATIONS 5,209 1,564 296\nInterest expense, net 70 62 54\nGain on debt extinguishment (28) —\n—\nOther (income) expense (2) —\n—\nIncome before income taxes 5,169 1,502 242\nIncome tax expense 1,104 344 41\nNET INCOME $ 4,065 $ 1,158 $ 201\nEarnings per share\nBasic Diluted $ 5.09 $ 2.30 $ 0.50\n$ 5.08 $ 2.29 $ 0.50\nWeighted-average common shares outstanding\nBasic 796 503 399\nDiluted 799 504 401\nThe accompanying notes are an integral part of these consolidated financial statements.\n60\n\nPage 48:\n\nRESULTS OF OPERATIONS\n2022 and 2021 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) Natural gas Oil NGL Other 2022 2021 Amount Percent\n$ 5,469 $ 2,798 $ 2,671 95 %\n3,016 616 2,400 390 %\n964 243 721 297 %\nLoss on derivative instruments (463) (221) (242) 110 %\n65 13 52 400 %\n$ 9,051 $ 3,449 $ 5,602 162 %\nProduction Revenues\nOur production revenues are derived from sales of our oil, natural gas and NGL production. Our 2022 production revenues were substantially higher due to the\nMerger, which significantly expanded our operations and related production to include the Permian and Anadarko Basins. Increases or decreases in our revenues,\nprofitability and future production growth are highly dependent on the commodity prices we receive, which we expect to fluctuate due to supply and demand factors,\nand the availability of transportation, seasonality and geopolitical, economic and other factors.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (Bcf) 1,024.3 911.1 113.2 12 % $ 348\nPrice variance ($/Mcf) $ 5.34 $ 3.07 $ 2.27 74 % 2,323\nTotal\n$ 2,671\nNatural gas revenues increased $2.7 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in\nproduction was primarily related to properties acquired in the Merger, which significantly expanded our operations, partially offset by lower production related to\nthe timing of our drilling and completion activities in the Marcellus Shale.\nOil Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 31.9 8.1 23.8 294% $ 1,799\nPrice variance ($/Bbl) $ 94.47 $ 75.61 $ 18.86 25% 601\nTotal\n$ 2,400\nOil revenues increased $2.4 billion primarily due to our expanded operations and related production after the Merger and higher oil prices.\nNGL Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 28.7 7.1 21.6 304 % $ 738\nPrice variance ($/Bbl) $ 33.58 $ 34.18 $ (0.60) (2)% (17)\nTotal\n$ 721\nNGL revenues increased $721 million prima",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_revenue",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Revenues: 9051m",
      "golden_context": "Page 48:\n\nRESULTS OF OPERATIONS\n2022 and 2021 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) Natural gas Oil NGL Other 2022 2021 Amount Percent\n$ 5,469 $ 2,798 $ 2,671 95 %\n3,016 616 2,400 390 %\n964 243 721 297 %\nLoss on derivative instruments (463) (221) (242) 110 %\n65 13 52 400 %\n$ 9,051 $ 3,449 $ 5,602 162 %\nProduction Revenues\nOur production revenues are derived from sales of our oil, natural gas and NGL production. Our 2022 production revenues were substantially higher due to the\nMerger, which significantly expanded our operations and related production to include the Permian and Anadarko Basins. Increases or decreases in our revenues,\nprofitability and future production growth are highly dependent on the commodity prices we receive, which we expect to fluctuate due to supply and demand factors,\nand the availability of transportation, seasonality and geopolitical, economic and other factors.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (Bcf) 1,024.3 911.1 113.2 12 % $ 348\nPrice variance ($/Mcf) $ 5.34 $ 3.07 $ 2.27 74 % 2,323\nTotal\n$ 2,671\nNatural gas revenues increased $2.7 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in\nproduction was primarily related to properties acquired in the Merger, which significantly expanded our operations, partially offset by lower production related to\nthe timing of our drilling and completion activities in the Marcellus Shale.\nOil Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 31.9 8.1 23.8 294% $ 1,799\nPrice variance ($/Bbl) $ 94.47 $ 75.61 $ 18.86 25% 601\nTotal\n$ 2,400\nOil revenues increased $2.4 billion primarily due to our expanded operations and related production after the Merger and higher oil prices.\nNGL Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 28.7 7.1 21.6 304 % $ 738\nPrice variance ($/Bbl) $ 33.58 $ 34.18 $ (0.60) (2)% (17)\nTotal\n$ 721\nNGL revenues increased $721 million prima",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_revenue_growth",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 9051m, prior year: 3449m",
      "golden_context": "Page 48:\n\nRESULTS OF OPERATIONS\n2022 and 2021 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) Natural gas Oil NGL Other 2022 2021 Amount Percent\n$ 5,469 $ 2,798 $ 2,671 95 %\n3,016 616 2,400 390 %\n964 243 721 297 %\nLoss on derivative instruments (463) (221) (242) 110 %\n65 13 52 400 %\n$ 9,051 $ 3,449 $ 5,602 162 %\nProduction Revenues\nOur production revenues are derived from sales of our oil, natural gas and NGL production. Our 2022 production revenues were substantially higher due to the\nMerger, which significantly expanded our operations and related production to include the Permian and Anadarko Basins. Increases or decreases in our revenues,\nprofitability and future production growth are highly dependent on the commodity prices we receive, which we expect to fluctuate due to supply and demand factors,\nand the availability of transportation, seasonality and geopolitical, economic and other factors.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (Bcf) 1,024.3 911.1 113.2 12 % $ 348\nPrice variance ($/Mcf) $ 5.34 $ 3.07 $ 2.27 74 % 2,323\nTotal\n$ 2,671\nNatural gas revenues increased $2.7 billion primarily due to significantly higher natural gas prices combined with higher production. The increase in\nproduction was primarily related to properties acquired in the Merger, which significantly expanded our operations, partially offset by lower production related to\nthe timing of our drilling and completion activities in the Marcellus Shale.\nOil Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 31.9 8.1 23.8 294% $ 1,799\nPrice variance ($/Bbl) $ 94.47 $ 75.61 $ 18.86 25% 601\nTotal\n$ 2,400\nOil revenues increased $2.4 billion primarily due to our expanded operations and related production after the Merger and higher oil prices.\nNGL Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2022 2021 Amount Percent\nmillions)\nV olume variance (MMBbl) 28.7 7.1 21.6 304 % $ 738\nPrice variance ($/Bbl) $ 33.58 $ 34.18 $ (0.60) (2)% (17)\nTotal\n$ 721\nNGL revenues increased $721 million prima",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000375_segments",
      "report_id": "ID_000375",
      "company_name": "Coterra",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "We operate in one segment, oil and natural gas development, exploration and production, in the continental U.S.",
      "golden_context": "Page 6:\n\nPART I\nITEMS 1 and 2. BUSINESS AND PROPERTIES\nCoterra Energy Inc. (“Coterra,\n” “our,\n” “we” and “us”) is an independent oil and gas company engaged in the development, exploration and production of oil,\nnatural gas and NGLs. Our assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable development\nprograms. We operate in one segment, oil and natural gas development, exploration and production, in the continental U.S.\nOur headquarters is located in Houston, Texas. We also maintain regional offices in Pittsburgh, Pennsylvania, Midland, Texas, and Tulsa, Oklahoma, as well as\nfield offices near our operations.\nOn October 1, 2021, we completed a merger transaction (the “Merger”) with Cimarex. Cimarex is an oil and gas exploration and production company with\noperations in Texas, New Mexico and Oklahoma. Under the terms of the merger agreement relating to the Merger (the “Merger Agreement”), and subject to certain\nexceptions specified in the Merger Agreement, each eligible share of Cimarex common stock was converted into the right to receive 4.0146 shares of our common\nstock at closing. As a result of the completion of the Merger, we issued approximately 408.2 million shares of common stock to Cimarex stockholders (excluding\nshares that were awarded in replacement of certain previously outstanding Cimarex restricted share awards). Additionally, on October 1, 2021, we changed our name\nto Coterra Energy Inc.\nOperational information set forth in this Annual Report on Form 10-K does not include the activity of Cimarex for periods prior to the completion of the\nMerger.\nSTRATEGY\nCoterra is a premier U.S.\n-focused exploration and production company. We embrace innovation, technology and data, as we work to create value for our\ninvestors and the communities where we operate. We believe the following strategic priorities will help drive value creation and long-term success.\nGenerate Sustainable Returns. Our premier assets across multiple basins provide commodity diversification and strong cash flow generation through the\ncommodity price cycles that, combined with our disciplined capital investment, give us the confidence in our ability to provide returns to our stockholders that we\nbelieve to be sustainable. Demonstrating our confidence in our business model, we increased our annual base dividend on our common stock to $0.50 per share\nfollowing the consummation of the Merger, followed by an increase in February 2022 to $0.60 per share and an additional increase in February 2023 to $0.80 per\nshare. From October 1, 2021 through our recent February 2023 dividend announcement, we will have returned approximately $3.2 billion to stockholders through\nour base, variable and special dividends. Furthermore, consistent with our returns-focused strategy, in February 2022, our Board of Directors approved a $1.25\nbillion share repurchase program, which was used to repurchase 48 million shares of our common stock, and was fully utilized by December 31, 2022. In February\n2023, our Board of Directors approved a new share repurchase program which authorizes the purchase of up to $2.0 billion of our common stock. During 2022, we\nreturned $4.06 per share to stockholders via dividend payments and share repurchases. Coterra remains committed to returning 50 percent or more of our free cash\nflow to our stockholders through our base dividend, share repurchase program, and/or a variable dividend.\nDisciplined Capital Allocation Across Top-Tier Position. We believe our asset portfolio offers scale, capital optionality and low break-even investment options.\nWe anticipate our drilling inventory will be developed over the coming decades at the current run-rate. We are committed to maintaining a disciplined capital\ninvestment strategy and using technology and innovation to maximize capital efficiency and operational execution. We believe that having three operating areas of\nscale, the Permian Basin, Marcellus Shale and Anadarko Basin, offers diversity of geography, commodity and revenue streams to allocate our capital, which should\nsupport strong and stable cash flow generation through commodity price cycles. During 2022, we invested 31 percent of our cash flow from operations in our\ndrilling program and in 2023 expect to invest approximately 50 percent of our estimated cash flow from operations, based on current strip prices.\nMaintain Financial ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_cash_flow",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3658m, investing: -2059, financing: -1317m",
      "golden_context": "Page 39:\n\nCash Flows\nOur cash flows from operating activities, investing activities and financing activities are as follows:\nYear Ended December 31,\n(In millions) 2023 2022 2021\nCash flows provided by operating activities $ 3,658 $ 5,456 $ 1,667\nCash flows (used in) provided by investing activities (2,059) (1,674) 313\nCash flows used in financing activities (1,317) (4,145) (1,086)\nOperating Activities. Operating cash flow fluctuations are substantially driven by changes in commodity prices, production volumes and operating expenses.\nCommodity prices have historically been volatile, primarily as a result of supply and demand for oil and natural gas, pipeline infrastructure constraints, basis\ndifferentials, inventory storage levels, seasonal influences and geopolitical, economic and other factors. In addition, fluctuations in cash flow may result in an\nincrease or decrease in our capital expenditures.\nNet cash provided by operating activities in 2023 decreased by $1.8 billion compared to 2022. This decrease was primarily due to lower net income as a result\nof lower natural gas, oil and NGL revenue due to lower commodity prices, partially offset by higher production. This decrease was partially offset by lower\noperating costs, higher cash received on derivative settlements and a larger contribution from changes in working capital and other assets and liabilities.\nRefer to “Results of Operations” for additional information relative to commodity price, production and operating expense fluctuations. We are unable to\npredict future commodity prices and, as a result, cannot provide any assurance about future levels of net cash provided by operating activities.\nInvesting Activities. Cash flows used in investing activities increased by $385 million from 2022 to 2023. The increase was primarily due to $389 million of\nhigher capital expenditures due to our increased capital budget for 2023 compared to 2022 .\nFinancing Activities. Cash flows used in financing activities decreased by $2.8 billion from 2022 to 2023. The decrease was primarily due to $1.1 billion of\nlower dividend payments and $845 million of lower common stock repurchases during 2023, and $874 million net repayments of debt in 2022.\n2022 and 2021 Compared. For information on the comparison of operating, investing, and financing cash flows for the year ended December 31, 2022\ncompared to the year ended December 31, 2021, refer to Financial Condition (Cash Flows) included in the Coterra Energy Inc. Annual Report on Form 10-K for the\nyear ended December 31, 2022, which information in incorporated by reference herein.\nRevolving Credit Agreement\nWe had $1.5 billion of borrowing capacity under our revolving credit agreement at December 31, 2023. The revolving credit agreement is scheduled to mature\nin March 2028 and can be extended for additional one-year periods on up to two occasions upon the agreement of lenders holding at least 50 percent of the\ncommitments under the credit agreement and us. Borrowings under our revolving credit agreement bear interest at a rate per annum equal to, at our option, (i) either\na term secured overnight financing rate (“SOFR”) plus a 0.10 percent credit spread adjustment for all tenors or (ii) a base rate, in each case plus an interest rate\nmargin which ranges from 0 to 75 basis points for base rate loans and 100 to 175 basis points for term SOFR loans based on our credit rating. Our revolving credit\nagreement includes certain customary covenants, including the maintenance of a maximum leverage ratio of no more than 3.0 to 1.0 as of the last day of any fiscal\nquarter. At such time as we have no other debt in a principal amount in excess of $75 million outstanding that has a financial maintenance covenant based on a\nsubstantially similar leverage ratio, in lieu of such maximum leverage ratio covenant, the revolving credit agreement will instead require us to maintain a ratio of\ntotal debt to total capitalization of no more than 65 percent. At December 31, 2023, we were in compliance with all financial covenants for our revolving credit\nagreement. Refer to Note 4 of the Notes to the Consolidated Financial Statements,\n“Long-Term Debt and Credit Agreements,\n” for further details regarding the\ninterest rate on future borrowings under the revolving credit agreement and our leverage ratio.\nCertain Restrictive Covenants\nOur ability to incur debt, incur lie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_company_type",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D. C. 20549\nFORM 10-K\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)\nOF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nCommission file number 1-10447\nCOTERRA ENERGY INC.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of\nincorporation or organization)\n04-3072771\n(I.R.S. Employer\nIdentification Number)\nThree Memorial City Plaza,\n840 Gessner Road, Suite 1400, Houston, Texas 77024\n(Address of principal executive offices including ZIP code)\n(281) 589-4600\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, par value $0.10 per share Trading Symbol(s) CTRA Name of each exchange on which registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth\n☐\ncompany\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the\ncorrection of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the\nregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of Common Stock, par value $0.10 per share (“Common Stock”), held by non-affiliates as of the last business day of registrant’s most recently\ncompleted second fiscal quarter (based upon the closing sales price on the New York Stock Exchange on June 30, 2023) was approximately $18.8 billion.\nAs of February 21, 2024, there were 751,847,432 shares of Common Stock outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the Proxy Statement for the Annual Meeting of Stockholders to be held May 1, 2024 are incorporated by reference into Part III of this report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_key_financials",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "net income 1625m, EPS basic: 2.14",
      "golden_context": "Page 56:\n\nCOTERRA ENERGY INC.\nCONSOLIDATED STATEMENT OF OPERATIONS\nYear Ended December 31,\n(In millions, except per share amounts) 2023 2022 2021\nOPERATING REVENUES\nNatural gas $ 2,292 $ 5,469 $ 2,798\nOil 2,667 3,016 616\nNGL 644 964 243\nGain (loss) on derivative instruments 230 (463) (221)\nOther 81 65 13\n5,914 9,051 3,449\nOPERATING EXPENSES\nDirect operations 562 460 156\nGathering, processing and transportation 975 955 663\nTaxes other than income 283 366 83\nExploration 20 29 18\nDepreciation, depletion and amortization 1,641 1,635 693\nGeneral and administrative 291 396 270\n3,772 3,841 1,883\nGain (loss) on sale of assets 12 (1) (2)\nINCOME FROM OPERATIONS 2,154 5,209 1,564\nInterest expense 73 80 62\nInterest income (47) (10) —\nGain on debt extinguishment —\n(28) —\nOther income —\n(2) —\nIncome before income taxes 2,128 5,169 1,502\nIncome tax expense 503 1,104 344\nNET INCOME $ 1,625 $ 4,065 $ 1,158\nEarnings per share\nBasic Diluted $ 2.14 $ 5.09 $ 2.30\n$ 2.13 $ 5.08 $ 2.29\nWeighted-average common shares outstanding\nBasic 756 796 503\nDiluted 760 799 504\nThe accompanying notes are an integral part of these consolidated financial statements.\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_revenue",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "5914m",
      "golden_context": "Page 42:\n\nRESULTS OF OPERATIONS\n2023 and 2022 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) 2023 2022 Amount Percent\nNatural gas $ 2,292 $ 5,469 $ (3,177) (58)%\nOil 2,667 3,016 (349) (12)%\nNGL 644 964 (320) (33)%\nGain (loss) on derivative instruments 230 (463) 693 (150)%\nOther 81 65 16 25 %\n$ 5,914 $ 9,051 $ (3,137) (35)%\nProduction Revenues\nOur production revenues are derived from sales of our oil, natural gas and NGL production. Increases or decreases in our revenues, profitability and future\nproduction growth are highly dependent on the commodity prices we receive, which we expect to fluctuate due to supply and demand factors, and the availability of\ntransportation, seasonality and geopolitical, economic and other factors.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (Bcf) 1,052.7 1,024.3 28.4 3 % $ 152\nPrice variance ($/Mcf) $ 2.18 $ 5.34 $ (3.16) (59)% (3,329)\nTotal\n$ (3,177)\nNatural gas revenues decreased $3.2 billion primarily due to significantly lower natural gas prices, partially offset by higher production. The increase in\nproduction was related to higher production in the Marcellus Shale, Permian Basin and Anadarko Basin.\nOil Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (MMBbl) 35.1 31.9 3.2 10% $ 302\nPrice variance ($/Bbl) $ 75.97 $ 94.47 $ (18.50) (20)% (651)\nTotal\n$ (349)\nOil revenues decreased $349 million primarily due to lower oil prices, offset by higher production mainly in the Permian Basin.\nNGL Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (MMBbl) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_revenue_growth",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "5914m, prior year 9051m",
      "golden_context": "Page 42:\n\nRESULTS OF OPERATIONS\n2023 and 2022 Compared\nOperating Revenues\nYear Ended December 31, Variance\n(In millions) 2023 2022 Amount Percent\nNatural gas $ 2,292 $ 5,469 $ (3,177) (58)%\nOil 2,667 3,016 (349) (12)%\nNGL 644 964 (320) (33)%\nGain (loss) on derivative instruments 230 (463) 693 (150)%\nOther 81 65 16 25 %\n$ 5,914 $ 9,051 $ (3,137) (35)%\nProduction Revenues\nOur production revenues are derived from sales of our oil, natural gas and NGL production. Increases or decreases in our revenues, profitability and future\nproduction growth are highly dependent on the commodity prices we receive, which we expect to fluctuate due to supply and demand factors, and the availability of\ntransportation, seasonality and geopolitical, economic and other factors.\nNatural Gas Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (Bcf) 1,052.7 1,024.3 28.4 3 % $ 152\nPrice variance ($/Mcf) $ 2.18 $ 5.34 $ (3.16) (59)% (3,329)\nTotal\n$ (3,177)\nNatural gas revenues decreased $3.2 billion primarily due to significantly lower natural gas prices, partially offset by higher production. The increase in\nproduction was related to higher production in the Marcellus Shale, Permian Basin and Anadarko Basin.\nOil Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (MMBbl) 35.1 31.9 3.2 10% $ 302\nPrice variance ($/Bbl) $ 75.97 $ 94.47 $ (18.50) (20)% (651)\nTotal\n$ (349)\nOil revenues decreased $349 million primarily due to lower oil prices, offset by higher production mainly in the Permian Basin.\nNGL Revenues\nYear Ended December 31, Variance Increase (Decrease) (In\n2023 2022 Amount Percent\nmillions)\nV olume variance (MMBbl) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000376_segments",
      "report_id": "ID_000376",
      "company_name": "Coterra",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "We operate in one segment, oil and natural gas development, exploration and production, in the continental U.S.",
      "golden_context": "Page 6:\n\nART I\nITEMS 1 and 2. BUSINESS AND PROPERTIES\nCoterra Energy Inc. (“Coterra,\n” the “Company,\n” “our,\n” “we” and “us”) is an independent oil and gas company engaged in the development, exploration and\nproduction of oil, natural gas and NGLs. Our assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable\ndevelopment programs. We operate in one segment, oil and natural gas development, exploration and production, in the continental U.S.\nOur headquarters is located in Houston, Texas. We also maintain regional offices in Pittsburgh, Pennsylvania, Midland, Texas, and Tulsa, Oklahoma, as well as\nfield offices near our operations.\nSTRATEGY\nCoterra is a premier U.S.\n-focused exploration and production company. We embrace innovation, technology and data, as we work to create value for our\ninvestors and the communities where we operate. We believe the following strategic priorities will help drive value creation and long-term success.\nGenerate Sustainable Returns. Our premier assets across multiple basins provide commodity diversification and strong cash flow generation through the\ncommodity price cycles that, combined with our disciplined capital investment, give us confidence in our ability to provide returns to our stockholders that we\nbelieve to be sustainable. Demonstrating our continued confidence in our business model, since the consummation of the merger with Cimarex Energy Co.\n(“Cimarex”) through December 31, 2023, we have increased our annual base dividend $0.36 per share, or 82 percent, on our common stock to $0.80 per share and\nhave returned over $3.5 billion to stockholders through dividends. In February 2024, our Board of Directors increased our annual base dividend to $0.84 per share.\nSince our initial share repurchase program, which began in early 2022, we have repurchased 65 million shares for $1.7 billion, at a weighted average share price of\n$25.75 per share. As of December 31, 2023, we had $1.6 billion remaining on our current $2.0 billion share repurchase program. In total, since the consummation of\nthe merger with Cimarex, we have returned $5.2 billion to stockholders through dividends and share repurchases and have retired $874 million of debt. We remain\ncommitted to returning 50 percent or more of our annual free cash flow to our stockholders through dividends and our share repurchase program, while maintaining\nour industry-leading balance sheet.\nDisciplined Capital Allocation Across Top-Tier Position. Our asset portfolio offers scale, capital optionality and low break-even investment options. We anticipate\nour drilling inventory will be developed over the next 15 to 20 years. We are committed to maintaining a disciplined capital investment strategy and using\ntechnology and innovation to maximize capital efficiency and create value for stockholders. With operations in the Permian Basin, Marcellus Shale, and Anadarko\nBasin, our asset portfolio is both commodity and geographically diversified, allowing for capital allocation flexibility that may prove opportunistic in navigating\ncommodity price cycles. During 2023 and 2022, we invested 57 percent and 31 percent, respectively, of our cash flow from operations in our drilling program, and\nin 2024 we expect to invest approximately 50 percent of our estimated cash flow from operations, based on recent strip prices.\nMaintain Financial Strength. Maintaining an industry-leading balance sheet with significant financial flexibility is imperative in a cyclical industry exposed to\ncommodity price volatility. Our asset base, revenue diversity, low-cost structure and strong balance sheet provide us with the flexibility to thrive across various\ncommodity price environments. With a year-end 2023 cash balance of $956 million and $1.5 billion of unused commitments under our revolving credit agreement,\nwe believe we are well positioned to maintain our balance sheet strength.\nFocus on Safe, Responsible and Sustainable Operations. Responsible development of oil and natural gas resources provides opportunity for a bright future, one\nbuilt through technology and innovation that offers prosperity for communities around the world. Our focus on operational excellence is based on making our\noperations more environmentally and socially sustainable. We actively implement technology across our operations from the design phase to equipment\nimprovements to limit our methane emissions and flaring activity. Safety of our employees and contractors is paramount. We empower all employees and\ncontra",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_cash_flow",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 907660k, investing: -1159558k, financing: 658988k",
      "golden_context": "Page 80:\n\ntanding Debt Securities or Loans\nAs market conditions warrant, we may from time to time seek to purchase our outstanding debt or debt\nsecurities that we may issue in the future, in privately negotiated or open market transactions, by tender offer or\notherwise. Subject to any applicable limitations contained in the agreements governing our indebtedness, any\npurchases made by us may be funded by the use of cash on our consolidated balance sheet or the incurrence of\nnew secured or unsecured debt, including borrowings under our Credit Facility. The amounts involved in any\nsuch purchase transactions, individually or in the aggregate, may be material. Any such purchases may be with\nrespect to a substantial amount of a particular class or series of debt, with the attendant reduction in the trading\nliquidity of such class or series. In addition, any such purchases made at prices below the “adjusted issue price”\n(as defined for United States federal income tax purposes) may result in taxable cancellation of indebtedness\nincome to us, which amounts may be material, and in related adverse tax consequences to us.\nCash Flows\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nThe following table summarizes our cash flows for the years ended December 31, 2021 and 2020:\nFor the Years\nEnded December 31,\n30.3%\n551.3%\n($ in thousands) 2021 2020 $ Change % Change\nNet cash provided by operating\nactivities . . . . . . . . . . . . . . . . . . . . . . . . $ 907,660 $ 696,712 $ 210,948 Net cash used in investing activities . . . . . (1,159,558) (425,156) (734,402) (172.7)%\nNet cash provided by (used in) financing\nactivities . . . . . . . . . . . . . . . . . . . . . . . . 658,988 (146,033) 805,021 Change in cash, cash equivalents, and\nrestricted cash . . . . . . . . . . . . . . . . . . . . . . . . $ 407,090 $ 125,523 $ 281,567 224.3%\nOperating Activities\nOur cash flows provided by operating activities depend on numerous factors, including the occupancy level\nof our homes, the rental rates achieved on our leases, the collection of rent from our residents, and the amount of\nour operating and other expenses. Net cash provided by operating activities was $907.7 million and\n$696.7 million for the years ended December 31, 2021 and 2020, respectively, an increase of 30.3%. The\nincrease in cash provided by operating activities was driven by improved operational profitability, including an\n$148.2 million in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_company_type",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nTitle of each class Name of each exchange on which registered\nCommon stock, $0.01 par value New York Stock Exchange\nFor the transition period from to\nCommission File Number 001-38004\nInvitation Homes Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 90-0939055\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n1717 Main Street, Suite 2000\n(Address of principal executive offices) Dallas, Texas 75201\n(Zip Code)\n(972)421-3600\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) INVH Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Í No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ‘ No Í\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes Í No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit\nsuch files). Yes Í No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nan emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer Í Non-Accelerated Filer ‘ Accelerated Filer ‘\nSmaller Reporting Company ‘\nEmerging Growth Company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. Í\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No Í\nAs of June 30, 2021, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately\n$21.1 billion (based upon the closing sale price of the common stock on that date on the New York Stock Exchange).\nAs of February 18, 2022, there were 607,652,169 shares of common stock, par value $0.01 per share, outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nItems 10, 11, 12, 13, and 14 of Part III incorporate information by reference from the registrant’s definitive proxy statement relating to its 2022\nannual meeting of stockholders (the “2022 Proxy Statement”) to be filed with the Securities and Exchange Commission within 120 days after the\nclose of the registrant’s fiscal year to which this report relates.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_key_financials",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "Revenues 1'996'615k, \nnet income 262'776k, \nEBITDA 1'180'085k, \nadjusted EBITDA re 1'171'185k",
      "golden_context": "Page 84:\n\no net income or loss or any other measure of financial performance presented in accordance with\nGAAP. Our EBITDA, EBITDAre, and Adjusted EBITDAre may not be comparable to the EBITDA, EBITDAre,\nand Adjusted EBITDAre of other companies due to the fact that not all companies use the same definitions of\nEBITDA, EBITDAre, and Adjusted EBITDAre. Accordingly, there can be no assurance that our basis for\ncomputing these non-GAAP measures is comparable with that of other companies.\nThe following table presents a reconciliation of net income (as determined in accordance with GAAP) to\nEBITDA, EBITDAre, and Adjusted EBITDAre for each of the periods indicated:\n(1) (2) (3) For the Years Ended December 31,\n($ in thousands) 2021 2020 2019\nNet income available to common stockholders . . . . . . . . $ 261,098 $ 195,764 $ 145,068\nNet income available to participating securities . . . . . 327 448 Non-controlling interests . . . . . . . . . . . . . . . . . . . . . . . 1,351 1,237 Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322,661 353,923 Interest expense in unconsolidated joint ventures . . . . 1,209 — —\nDepreciation and amortization . . . . . . . . . . . . . . . . . . 592,135 552,530 395\n1,648\n367,173\n533,719\nDepreciation and amortization of investments in\nunconsolidated joint ventures . . . . . . . . . . . . . . . . . EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . . . . . . 1,304 1,180,085 (60,008) — —\n1,103,902 1,048,003\n(54,594) (96,336)\nImpairment on depreciated real estate investments . . 650 4,578 14,210\nNet gain on sale of investments in unconsolidated\njoint ventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EBITDAre. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Share-based compensation expense(1)\n. . . . . . . . . . . . . Merger and transaction-related expenses(2) . . . . . . . . . Severance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Casualty (gains) losses, net . . . . . . . . . . . . . . . . . . . . . (1,050) — —\n1,119,677 1,053,886 965,877\n27,170 17,090 18,158\n— — 4,347\n1,057 601 8,465\n8,026 (3,882) 4,533\n(Gains) losses on investments in equity securities,\nnet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other, net(3)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,420 5,835 (29,723) 86 (6,480)\n(5,120)\nAdjusted EBITDAre. . . . . . . . . . . . . . . . . . . . . . . . . . . . . For the years ended December 31, 2021, 2020, and 2019, $5,427, $3,511, and $3,075 was recorded in\nproperty management expense, respectively, and $21,743, $13,579, and $15,083 was recorded in general\nand administrative expense, respectively.\nIncludes merger and transaction-related expenses included within general and administrative.\nIncludes interest income and other miscellaneous income and expenses.\n$1,171,185 $1,038,058 $ 989,780\nNet Operating Income\nNOI is a non-GAAP measure often used to evaluate the performance of real estate companies. We define\nNOI for an identified population of homes as rental revenues and other property income less property operating\nand maintenance expense (which consists primarily of property taxes, insurance, HOA fees (when applicable),\nmarket-level personnel expenses, utility expenses, repairs and maintenance, and property administration). NOI\nexcludes: interest expense; depreciation and amortization; property management expense; general and\nadministrative expense; impairment and other; gain on sale of property, net of tax; (gains) losses on investments\nin equity securities, net; other i\n\nPage 71:\n\nResults of Operations\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2021 and 2020:\nFor the Years\nEnded December 31,\n1,996,615 1,822,828 173,787 9.5%\n($ in thousands) 2021 2020 $ Change % Change\nRevenues:\nRental revenues and other property income . . . $1,991,722 $1,822,828 $168,894 9.3%\nJoint venture management fees . . . . . . . . . . . . . 4,893 — 4,893 N/M\nTotal revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expenses:\nProperty operating and maintenance . . . . . . . . . 706,162 680,543 25,619 3.8%\nProperty management expense . . . . . . . . . . . . . 71,597 58,613 12,984 22.2%\nGeneral and administrative . . . . . . . . . . . . . . . . 75,815 63,305 12,510 19.8%\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . 322,661 353,923 (31,262) (8.8)%\nDepreciation and amortization . . . . . . . . . . . . . . 592,135 552,530 39,605 7.2%\nImpairment and other . . . . . . . . . . . . . . . . . . . . . 8,676 696 7,980 N/M\nTotal expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9%\nGains (losses) on investments in equity\nsecurities, net . . . . . . . . . . . . . . . . . . . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . Income (loss) from investments in\nunconsolidated joint ventures . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 262,776 1,777,046 1,709,610 67,436 (9,420) (5,835) 60,008 (1,546) 29,723 (86) 54,594 (39,143) (5,749) 5,414 N/M\nN/M\n9.9%\n$ 197,449 — (1,546) N/M\n$ 65,327 33.1%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_revenue",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "Revenues 1'996'615k",
      "golden_context": "Page 71:\n\nResults of Operations\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2021 and 2020:\nFor the Years\nEnded December 31,\n1,996,615 1,822,828 173,787 9.5%\n($ in thousands) 2021 2020 $ Change % Change\nRevenues:\nRental revenues and other property income . . . $1,991,722 $1,822,828 $168,894 9.3%\nJoint venture management fees . . . . . . . . . . . . . 4,893 — 4,893 N/M\nTotal revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expenses:\nProperty operating and maintenance . . . . . . . . . 706,162 680,543 25,619 3.8%\nProperty management expense . . . . . . . . . . . . . 71,597 58,613 12,984 22.2%\nGeneral and administrative . . . . . . . . . . . . . . . . 75,815 63,305 12,510 19.8%\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . 322,661 353,923 (31,262) (8.8)%\nDepreciation and amortization . . . . . . . . . . . . . . 592,135 552,530 39,605 7.2%\nImpairment and other . . . . . . . . . . . . . . . . . . . . . 8,676 696 7,980 N/M\nTotal expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9%\nGains (losses) on investments in equity\nsecurities, net . . . . . . . . . . . . . . . . . . . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . Income (loss) from investments in\nunconsolidated joint ventures . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 262,776 1,777,046 1,709,610 67,436 (9,420) (5,835) 60,008 (1,546) 29,723 (86) 54,594 (39,143) (5,749) 5,414 N/M\nN/M\n9.9%\n$ 197,449 — (1,546) N/M\n$ 65,327 33.1%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_revenue_growth",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues 1'996'615k, \nprior year: 1'822'828k",
      "golden_context": "Page 71:\n\nResults of Operations\nYear Ended December 31, 2021 Compared to Year Ended December 31, 2020\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2021 and 2020:\nFor the Years\nEnded December 31,\n1,996,615 1,822,828 173,787 9.5%\n($ in thousands) 2021 2020 $ Change % Change\nRevenues:\nRental revenues and other property income . . . $1,991,722 $1,822,828 $168,894 9.3%\nJoint venture management fees . . . . . . . . . . . . . 4,893 — 4,893 N/M\nTotal revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expenses:\nProperty operating and maintenance . . . . . . . . . 706,162 680,543 25,619 3.8%\nProperty management expense . . . . . . . . . . . . . 71,597 58,613 12,984 22.2%\nGeneral and administrative . . . . . . . . . . . . . . . . 75,815 63,305 12,510 19.8%\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . 322,661 353,923 (31,262) (8.8)%\nDepreciation and amortization . . . . . . . . . . . . . . 592,135 552,530 39,605 7.2%\nImpairment and other . . . . . . . . . . . . . . . . . . . . . 8,676 696 7,980 N/M\nTotal expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9%\nGains (losses) on investments in equity\nsecurities, net . . . . . . . . . . . . . . . . . . . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . Income (loss) from investments in\nunconsolidated joint ventures . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 262,776 1,777,046 1,709,610 67,436 (9,420) (5,835) 60,008 (1,546) 29,723 (86) 54,594 (39,143) (5,749) 5,414 N/M\nN/M\n9.9%\n$ 197,449 — (1,546) N/M\n$ 65,327 33.1%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000377_segments",
      "report_id": "ID_000377",
      "company_name": "Invitation Homes",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties. ",
      "golden_context": "Page 26-27:\n\nand Regulations Regarding Privacy and Data Protection\nWe are subject to a variety of laws and regulations that involve matters such as privacy, data protection,\ncontent, consumer protection, and other matters. For example, the California Consumer Privacy Act and the\nNevada Privacy Law, which took effect in January 2020, establish certain transparency rules and create new data\nprivacy rights for users, including more ability to control how their data is shared with third parties. See Part I.\nItem 1A. “Risk Factors — Risks Related to Our Business and Industry — Our business is subject to laws and\nregulations regarding privacy, data protection, consumer protection, and other matters.” Many of these laws\nand regulations are subject to change and uncertain interpretation, and could result in claims, changes to our\nbusiness practices, monetary penalties, or other harm to our business and results of operations.\nSegment Reporting\nOperating segments are defined as components of an enterprise for which discrete financial information is\navailable that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate\nresources and in assessing performance. Our CODM is the Chief Executive Officer.\n22\nUnder the provisions of ASC 280, Segment Reporting, we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties. The\nCODM evaluates operating performance and allocates resources on a total portfolio basis. The CODM utilizes\nnet operating income (“NOI”) as the primary measure to evaluate performance of the total portfolio. The\naggregation of individual homes constitutes the total portfolio. Decisions regarding acquisitions and dispositions\nof homes are made at the individual home level with a focus on accretive growth in high-growth locations where\nwe have greater scale and density.\nREIT Qualification\nWe have elected to qualify as a REIT for United States federal income tax purposes. So long as we qualify\nas a REIT, we generally will not be subject to United States federal income tax on net taxable income that we\ndistribute annually to our stockholders. To qualify as a REIT for United States federal income tax purposes, we\nmust continually satisfy tests concerning, among other things, the real estate qualification of sources of our\nincome, the composition and values of our assets, the amounts we distribute to our stockholders, and the diversity\nof ownership of our stock. To comply with REIT requirements, we may need to forego otherwise attractive\nopportunities and limit our ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_cash_flow",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1'023'587k, \ninvesting: -814'413k, \nfinancing: -574'105k",
      "golden_context": "Page 76:\n\nrm liquidity requirements consist primarily of funds necessary to pay for the acquisition of, and\nnon-recurring capital expenditures for, our homes, and principal and interest payments of our indebtedness. We\nintend to satisfy our long-term liquidity needs through cash provided by operations, long-term secured and\nunsecured borrowings, the issuance of debt and equity securities, and property dispositions. As a REIT, we are\nrequired to distribute to our stockholders at least 90% of our taxable income, excluding net capital gain, on an\nannual basis. Therefore, as a general matter, it is unlikely that we will be able to retain substantial cash balances\nfrom our annual taxable income that could be used to meet our liquidity needs. Instead, we will need to meet\nthese needs from external sources of capital and amounts, if any, by which our cash flow generated from\noperations exceeds taxable income.\nCash Flows\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nThe following table summarizes our cash flows for the years ended December 31, 2022 and 2021:\nFor the Years\nEnded December 31,\n($ in thousands) 2022 2021 $ Change % Change\nNet cash provided by operating\nactivities . . . . . . . . . . . . . . . . . . . . . . $1,023,587 $ 907,660 $ 115,927 Net cash used in investing activities . . (814,413) (1,159,558) 345,145 29.8%\nNet cash provided by (used in)\nfinancing activities . . . . . . . . . . . . . . (574,105) 658,988 (1,233,093) Change in cash, cash equivalents, and\nrestricted cash . . . . . . . . . . . . . . . . . . . . . . $ (364,931) $ 407,090 $ (772,021) 12.8%\n(187.1)%\n(189.6)%\n72\nOperating Activities\nOur cash flows provided by operating activities depend on numerous factors, including the occupancy level\nof our homes, the rental rates achieved on our leases, the collection of rent from our residents, and the amount of\nour operating and other expenses. Net cash provided by operating activities was $1,023.6 million and\n$907.7 million for the years ended December 31, 2022 and 2021, respectively, an increase of 12.8%. The\nincrease in cash provided by operating activities is primarily due to (1) improved operational profitability,\nincluding a $161.3 million increase in total revenues net of property operating and maintenance expense from\nperiod to period, partially offset by (2) a net $35.1 million use of cash between periods from changes in operating\nassets and liab",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_company_type",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nTitle of each class Name of each exchange on which registered\nCommon stock, $0.01 par value New York Stock Exchange\nFor the transition period from to\nCommission File Number 001-38004\nInvitation Homes Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 90-0939055\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n1717 Main Street, Suite 2000\n(Address of principal executive offices) Dallas, Texas 75201\n(Zip Code)\n(972)421-3600\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) INVH Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Í No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ‘ No Í\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes Í No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit\nsuch files). Yes Í No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nan emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer Í Non-Accelerated Filer ‘ Accelerated Filer ‘\nSmaller Reporting Company ‘\nEmerging Growth Company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. Í\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in\nthe filling reflect the correction of an error to previously issued financials statements. ‘\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ‘\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No Í\nAs of June 30, 2022, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately\n$21.7 billion (based upon the closing sale price of the common stock on that date on the New York Stock Exchange).\nAs of February 20, 2023, there were 611,411,460 shares of common stock, par value $0.01 per share, outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nItems 10, 11, 12, 13, and 14 of Part III incorporate information by reference from the registrant’s definitive proxy statement relating to its 2023\nannual meeting of stockholders (the “2023 Proxy Statement”) to be filed with the Securities and Exchange Commission within 120 days after the\nclose of the registrant’s fiscal year to which this report relates.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_key_financials",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "revenues 2'238'121k, \nnet income 384'799k",
      "golden_context": "Page 70:\n\nResults of Operations\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2022 and 2021:\nFor the Years\nEnded December 31,\n2022 2021 $ Change % Change\n2,238,121 1,996,615 241,506 786,351 87,936 74,025 304,092 638,114 28,697 706,162 71,597 75,815 322,661 592,135 8,676 80,189 16,339 (1,790) (18,569) 45,979 20,021 ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . $2,226,641 $1,991,722 $ 234,919 11.8%\nManagement fee revenues . . . . . . . . . . . . . . . . . . . . . . . 11,480 4,893 6,587 Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134.6%\n12.1%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Losses on investments in equity securities, net . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . . . . . . . Losses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919,215 1,777,046 142,169 (3,939) (11,261) 90,699 (9,606) (9,420) (5,835) 60,008 (1,546) $ 384,799 $ 262,776 $ 122,023 11.4%\n22.8%\n(2.4)%\n(5.8)%\n7.8%\n230.8%\n8.0%\n5,481 58.2%\n(5,426) (93.0)%\n30,691 51.1%\n(8,060) (521.3)%\n46.4%\nPortfolio Information\nAs of December 31, 2022 and 2021, we owned 83,113 and 82,381 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2022 and 2021, we acquired 1,423 and 2,938 homes,\nrespectively, and sold 691 and 734 homes, respectively. During the years ended December 31, 2022 and 2021,\nwe owned an average of 82,929 and 80,901 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods, and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2022, our Same Store portfolio consisted of 74,646 single-family rental homes.\nRevenues\nFor the years ended December 31, 2022 and 2021, total revenues were $2,238.1 million and\n$1,996.6 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor the years ended December 31, 2022 and 2021, total portfolio rental revenues and other property income\ntotaled $2,226.6 millio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_revenue",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "revenues 2'238'121k",
      "golden_context": "Page 70:\n\nResults of Operations\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2022 and 2021:\nFor the Years\nEnded December 31,\n2022 2021 $ Change % Change\n2,238,121 1,996,615 241,506 786,351 87,936 74,025 304,092 638,114 28,697 706,162 71,597 75,815 322,661 592,135 8,676 80,189 16,339 (1,790) (18,569) 45,979 20,021 ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . $2,226,641 $1,991,722 $ 234,919 11.8%\nManagement fee revenues . . . . . . . . . . . . . . . . . . . . . . . 11,480 4,893 6,587 Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134.6%\n12.1%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Losses on investments in equity securities, net . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . . . . . . . Losses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919,215 1,777,046 142,169 (3,939) (11,261) 90,699 (9,606) (9,420) (5,835) 60,008 (1,546) $ 384,799 $ 262,776 $ 122,023 11.4%\n22.8%\n(2.4)%\n(5.8)%\n7.8%\n230.8%\n8.0%\n5,481 58.2%\n(5,426) (93.0)%\n30,691 51.1%\n(8,060) (521.3)%\n46.4%\nPortfolio Information\nAs of December 31, 2022 and 2021, we owned 83,113 and 82,381 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2022 and 2021, we acquired 1,423 and 2,938 homes,\nrespectively, and sold 691 and 734 homes, respectively. During the years ended December 31, 2022 and 2021,\nwe owned an average of 82,929 and 80,901 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods, and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2022, our Same Store portfolio consisted of 74,646 single-family rental homes.\nRevenues\nFor the years ended December 31, 2022 and 2021, total revenues were $2,238.1 million and\n$1,996.6 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor the years ended December 31, 2022 and 2021, total portfolio rental revenues and other property income\ntotaled $2,226.6 millio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_revenue_growth",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 2'238'121k, \nprior year: 1'996'615k",
      "golden_context": "Page 70:\n\nResults of Operations\nYear Ended December 31, 2022 Compared to Year Ended December 31, 2021\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2022 and 2021:\nFor the Years\nEnded December 31,\n2022 2021 $ Change % Change\n2,238,121 1,996,615 241,506 786,351 87,936 74,025 304,092 638,114 28,697 706,162 71,597 75,815 322,661 592,135 8,676 80,189 16,339 (1,790) (18,569) 45,979 20,021 ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . $2,226,641 $1,991,722 $ 234,919 11.8%\nManagement fee revenues . . . . . . . . . . . . . . . . . . . . . . . 11,480 4,893 6,587 Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134.6%\n12.1%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Losses on investments in equity securities, net . . . . . . . Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of property, net of tax . . . . . . . . . . . . . . . . Losses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919,215 1,777,046 142,169 (3,939) (11,261) 90,699 (9,606) (9,420) (5,835) 60,008 (1,546) $ 384,799 $ 262,776 $ 122,023 11.4%\n22.8%\n(2.4)%\n(5.8)%\n7.8%\n230.8%\n8.0%\n5,481 58.2%\n(5,426) (93.0)%\n30,691 51.1%\n(8,060) (521.3)%\n46.4%\nPortfolio Information\nAs of December 31, 2022 and 2021, we owned 83,113 and 82,381 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2022 and 2021, we acquired 1,423 and 2,938 homes,\nrespectively, and sold 691 and 734 homes, respectively. During the years ended December 31, 2022 and 2021,\nwe owned an average of 82,929 and 80,901 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods, and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2022, our Same Store portfolio consisted of 74,646 single-family rental homes.\nRevenues\nFor the years ended December 31, 2022 and 2021, total revenues were $2,238.1 million and\n$1,996.6 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor the years ended December 31, 2022 and 2021, total portfolio rental revenues and other property income\ntotaled $2,226.6 millio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000378_segments",
      "report_id": "ID_000378",
      "company_name": "Invitation Homes",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties. ",
      "golden_context": "Page 25:\n\nts for users, including more ability to control how their data is shared with third parties. See Part I.\nItem 1A. “Risk Factors — Risks Related to Our Business and Industry — Our business is subject to laws and\nregulations regarding privacy, data protection, consumer protection, and other matters.” Many of these laws\nand regulations are subject to change and uncertain interpretation, and could result in claims, changes to our\nbusiness practices, monetary penalties, or other harm to our business and results of operations.\nSegment Reporting\nOperating segments are defined as components of an enterprise for which discrete financial information is\navailable that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate\nresources and in assessing performance. Our CODM is the Chief Executive Officer.\nUnder the provisions of ASC 280, Segment Reporting, we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties. The\nCODM evaluates operating performance and allocates resources on a total portfolio basis. The CODM utilizes\nnet operating income (“NOI”) as the primary measure to evaluate performance of the total portfolio.\nREIT Qualification\nWe have elected to qualify as a REIT for United States federal income tax purposes. So long as we qualify\nas a REIT, we generally will not be subject to United States federal income tax on net taxable income that we\n21\ndistribute annually to our stockholders. To qualify as a REIT for United States federal income tax purposes, we\nmust continually satisfy tests concerning, among other things, the real estate qualification of sources of our\nincome, the composition and values of our assets, the amounts we distribute to our stockholders, and the diversity\nof ownership of our stock. To comply with REIT requirements, we may need to forego otherwise attractive\nopportunities and limit our expansion opportunities and the manner in which we conduct our operations.\nWebsite and Availability of SEC filings\nWe file annual, quarterly, and current reports, proxy statements, and other information with the SEC. Our\nSEC filings are available to the public over the Internet at the SEC’s website at https://www.sec.gov.\nWe maintain an internet site at INVH.com, where we make our annual reports on Form 10-K, quarterly\nreports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant\nto Section 13(a) or 15(d) of the Exchange Act available free of charge as soon as reasonably practicable after\nthey are filed with or furnished to the SEC. Our website and the information contained on or through that site are\nnot incorporated into this Annual Report on Form 10-K. We use our website INVH.com as a channel of\ndistribution of material company information. For example, financial and other material information regarding\nour company is routinely posted on and accessible at INVH.com. Accordingly, investors should monitor the\nwebsite, in addition to following our press releases, SEC filings, and public conference calls and webcasts. In\naddition, you ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_cash_flow",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1'107'088k, \ninvesting: -773'552k, \nfinancing: 110'021k",
      "golden_context": "Page 77:\n\nhibits and Financial Statements of — Notes to Consolidated Financial Statements” for additional information\nabout our investments in unconsolidated joint ventures.\nOverall macroeconomic conditions, including rising inflation, bank failures, and interest rates, may\nnegatively impact our operating cash flow such that we are unable to make required debt service payments,\nwhich would result in an event of default for any debt instrument under whose loan agreement such payments\nwere not made. Specifically, the collateral within individual borrower entities may underperform, resulting in\ncash flow shortfalls for debt service while consolidated cash flows are sufficient to fund our operations. If an\nevent of default occurs for a specific mortgage loan or for our secured term loan, our loan agreements provide\ncertain remedies, including our ability to fund shortfalls from consolidated cash flow; and such an event of\ndefault would not result in an immediate acceleration of the loan.\nOur real estate assets are illiquid in nature. A timely liquidation of assets may not be a viable source of short-\nterm liquidity should a cash flow shortfall arise, and we may need to source liquidity from other financing sources,\nsuch as the Revolving Facility which had undrawn balances of $1,000.0 million as of December 31, 2023.\nOur long-term liquidity requirements consist primarily of funds necessary to pay for the acquisition of, and\nnon-recurring capital expenditures for, our homes, and principal and interest payments of our indebtedness. We\nintend to satisfy our long-term liquidity needs through cash provided by operations, long-term secured and\nunsecured borrowings, the issuance of debt and equity securities, and property dispositions. As a REIT, we are\nrequired to distribute to our stockholders at least 90% of our taxable income, excluding net capital gain, on an\nannual basis. Therefore, as a general matter, it is unlikely that we will be able to retain substantial cash balances\nfrom our annual taxable income that could be used to meet our liquidity needs. Instead, we will need to meet\nthese needs from external sources of capital and amounts, if any, by which our cash flow generated from\noperations exceeds taxable income.\nCash Flows\nYear Ended December 31, 2023 Compared to Year Ended December 31, 2022\nThe following table summarizes our cash flows for the years ended December 31, 2023 and 2022:\nFor the Years\nEnded December 31,\n8.2%\n119.2%\n($ in thousands) 2023 2022 $ Change % Change\nNet cash provided by operating\nactivities . . . . . . . . . . . . . . . . . . . . . . . . . $1,107,088 $1,023,587 $ 83,501 Net cash used in investing activities . . . . . (773,552) (814,413) 40,861 5.0%\nNet cash provided by (used in) financing\nactivities . . . . . . . . . . . . . . . . . . . . . . . . . 110,021 (574,105) 684,126 Change in cash, cash equivalents, and restricted\ncash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 443,557 $ (364,931) $808,488 221.5%\nOperating Activities\nOur cash flows provided by operating activities depend on numerous factors, including the occupancy level\nof our homes, the rental rates achieved on our leases, the collection of rent from our residents, and the amount of\nour operating and other expenses. Net cash provided by operating activities was $1,107.1 million and\n$1,023.6 million for the years ended December 31, 2023 and 2022, respectively, an increase of 8.2%. The\nincrease in cash provided by operating activities is primarily due to improved operational profitability, including\na $100.2 m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_company_type",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nÍ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE\nACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934\nTitle of each class Name of each exchange on which registered\nCommon stock, $0.01 par value New York Stock Exchange\nFor the transition period from to\nCommission File Number 001-38004\nInvitation Homes Inc.\n(Exact name of registrant as specified in its charter)\nMaryland 90-0939055\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n1717 Main Street, Suite 2000\n(Address of principal executive offices) Dallas, Texas 75201\n(Zip Code)\n(972) 421-3600\n(Registrant’s telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) INVH Securities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Í No ‘\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ‘ No Í\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such\nfiling requirements for the past 90 days. Yes Í No ‘\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405\nof Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit\nsuch files). Yes Í No ‘\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or\nan emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act.\nLarge Accelerated Filer Í Non-Accelerated Filer ‘ Accelerated Filer ‘\nSmaller Reporting Company ‘\nEmerging Growth Company ‘\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that\nprepared or issued its audit report. Í\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in\nthe filling reflect the correction of an error to previously issued financials statements. ‘\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ‘\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No Í\nAs of June 30, 2023, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately\n$21.1 billion (based upon the closing sale price of the common stock on that date on the New York Stock Exchange).\nAs of February 20, 2024, there were 611,958,239 shares of common stock, par value $0.01 per share, outstanding.\nDOCUMENTS INCORPORATED BY REFERENCE\nItems 10, 11, 12, 13, and 14 of Part III incorporate information by reference from the registrant’s definitive proxy statement relating to its 2024\nannual meeting of stockholders (the “2024 Proxy Statement”) to be filed with the Securities and Exchange Commission within 120 days after the\nclose of the registrant’s fiscal year to which this report relates.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_key_financials",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "revenues: 2432278k, net income 521028k",
      "golden_context": "Page 71:\n\nResults of Operations\nYear Ended December 31, 2023 Compared to Year Ended December 31, 2022\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2023 and 2022:\nFor the Years\nEnded December 31,\n2023 2022 $ Change % Change\n$2,418,631 13,647 $2,226,641 11,480 $ 191,990 2,167 2,432,278 2,238,121 194,157 880,335 95,809 82,344 333,457 674,287 8,596 786,351 87,936 74,025 304,092 638,114 28,697 93,984 7,873 8,319 29,365 36,173 (20,101) ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . . . Management fee revenues . . . . . . . . . . . . . . . . . . . . . . . . . Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6%\n18.9%\n8.7%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,074,828 1,919,215 Gains (losses) on investments in equity securities, net . . . 350 (3,939) 4,289 108.9%\nOther, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,435) Gain on sale of property, net of tax . . . . . . . . . . . . . . . . . . 183,540 8,826 92,841 12.0%\n9.0%\n11.2%\n9.7%\n5.7%\n(70.0)%\n8.1%\n78.4%\n102.4%\nLosses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,877) (8,271) Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86.1)%\n35.4%\n155,613 (11,261) 90,699 (9,606) $ 521,028 $ 384,799 $ 136,229 Portfolio Information\nAs of December 31, 2023 and 2022, we owned 84,567 and 83,113 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2023 and 2022, we acquired 2,877 and 1,423 homes,\nrespectively, and sold 1,423 and 691 homes, respectively. During the years ended December 31, 2023 and 2022,\nwe owned an average of 83,722 and 82,929 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2023, our Same Store portfolio consisted of 75,775 single-family rental homes.\nRevenues\nFor the years ended December 31, 2023 and 2022, total revenues were $2,432.3 million and\n$2,238.1 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_revenue",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "revenues: 2432278k",
      "golden_context": "Page 71:\n\nResults of Operations\nYear Ended December 31, 2023 Compared to Year Ended December 31, 2022\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2023 and 2022:\nFor the Years\nEnded December 31,\n2023 2022 $ Change % Change\n$2,418,631 13,647 $2,226,641 11,480 $ 191,990 2,167 2,432,278 2,238,121 194,157 880,335 95,809 82,344 333,457 674,287 8,596 786,351 87,936 74,025 304,092 638,114 28,697 93,984 7,873 8,319 29,365 36,173 (20,101) ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . . . Management fee revenues . . . . . . . . . . . . . . . . . . . . . . . . . Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6%\n18.9%\n8.7%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,074,828 1,919,215 Gains (losses) on investments in equity securities, net . . . 350 (3,939) 4,289 108.9%\nOther, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,435) Gain on sale of property, net of tax . . . . . . . . . . . . . . . . . . 183,540 8,826 92,841 12.0%\n9.0%\n11.2%\n9.7%\n5.7%\n(70.0)%\n8.1%\n78.4%\n102.4%\nLosses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,877) (8,271) Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86.1)%\n35.4%\n155,613 (11,261) 90,699 (9,606) $ 521,028 $ 384,799 $ 136,229 Portfolio Information\nAs of December 31, 2023 and 2022, we owned 84,567 and 83,113 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2023 and 2022, we acquired 2,877 and 1,423 homes,\nrespectively, and sold 1,423 and 691 homes, respectively. During the years ended December 31, 2023 and 2022,\nwe owned an average of 83,722 and 82,929 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2023, our Same Store portfolio consisted of 75,775 single-family rental homes.\nRevenues\nFor the years ended December 31, 2023 and 2022, total revenues were $2,432.3 million and\n$2,238.1 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_revenue_growth",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "revenues: 2'432'278k, prior year: 2'238'121k",
      "golden_context": "Page 71:\n\nResults of Operations\nYear Ended December 31, 2023 Compared to Year Ended December 31, 2022\nThe following table sets forth a comparison of the results of operations for the years ended December 31,\n2023 and 2022:\nFor the Years\nEnded December 31,\n2023 2022 $ Change % Change\n$2,418,631 13,647 $2,226,641 11,480 $ 191,990 2,167 2,432,278 2,238,121 194,157 880,335 95,809 82,344 333,457 674,287 8,596 786,351 87,936 74,025 304,092 638,114 28,697 93,984 7,873 8,319 29,365 36,173 (20,101) ($ in thousands) Revenues:\nRental revenues and other property income . . . . . . . . . . . . Management fee revenues . . . . . . . . . . . . . . . . . . . . . . . . . Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6%\n18.9%\n8.7%\nExpenses:\nProperty operating and maintenance . . . . . . . . . . . . . . . . . Property management expense . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . Impairment and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,074,828 1,919,215 Gains (losses) on investments in equity securities, net . . . 350 (3,939) 4,289 108.9%\nOther, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,435) Gain on sale of property, net of tax . . . . . . . . . . . . . . . . . . 183,540 8,826 92,841 12.0%\n9.0%\n11.2%\n9.7%\n5.7%\n(70.0)%\n8.1%\n78.4%\n102.4%\nLosses from investments in unconsolidated joint\nventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,877) (8,271) Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86.1)%\n35.4%\n155,613 (11,261) 90,699 (9,606) $ 521,028 $ 384,799 $ 136,229 Portfolio Information\nAs of December 31, 2023 and 2022, we owned 84,567 and 83,113 single-family rental homes, respectively,\nin our total portfolio. During the years ended December 31, 2023 and 2022, we acquired 2,877 and 1,423 homes,\nrespectively, and sold 1,423 and 691 homes, respectively. During the years ended December 31, 2023 and 2022,\nwe owned an average of 83,722 and 82,929 single-family rental homes, respectively.\nWe believe presenting information about the portion of our total portfolio that has been fully operational for\nthe entirety of both a given reporting period and its prior year comparison period provides investors with\nmeaningful information about the performance of our comparable homes across periods and about trends in our\norganic business. To do so, we provide information regarding the performance of our Same Store portfolio.\nAs of December 31, 2023, our Same Store portfolio consisted of 75,775 single-family rental homes.\nRevenues\nFor the years ended December 31, 2023 and 2022, total revenues were $2,432.3 million and\n$2,238.1 million, respectively. Set forth below is a discussion of changes in the individual components of total\nrevenues.\nFor th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000379_segments",
      "report_id": "ID_000379",
      "company_name": "Invitation Homes",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties.",
      "golden_context": "Page 23:\n\ncluding without limitation, use, operation and maintenance of our properties. Certain of our properties are\nsubject to the rules of the various HOAs where such properties are located. HOA rules and regulations are\ncommonly referred to as “covenants, conditions and restrictions,” or CC&Rs, and typically consist of various\nrestrictions or guidelines regarding use and maintenance of the property, including, among others, landscaping\nstandards, noise restrictions, or guidelines as to how many cars may be parked on the property.\nBroker Licensure\nWe own internal brokerages to serve the states in which we operate and utilize in-market leasing experience\nspecialists to drive an end-to-end resident experience that achieves our occupancy, revenue, and retention goals\nwhile facilitating enjoyment of a worry-free leasing lifestyle. Our internal brokerages are subject to numerous\nfederal, state, and local laws and regulations that govern the licensure of real estate agents and brokers and\naffiliate brokers and set forth standards for, and prohibitions on, the conduct of real estate brokers. Such\nstandards and prohibitions include, among others, those relating to fiduciary and agency duties, administration of\ntrust funds, collection of commissions, and advertising and consumer disclosures, as well as compliance with\nfederal, state, and local laws and programs for providing housing to low-income families. Under applicable state\nlaw, we generally have a duty to supervise and are responsible for the conduct of our internal brokerages.\nEnvironmental Matters\nAs a current or prior owner of real estate, we are subject to various federal, state, and local environmental\nlaws, regulations, and ordinances, and we could be liable to third parties as a result of environmental\ncontamination or noncompliance at our properties, even if we no longer own such properties. We are not aware\nof any environmental matters that would have a material adverse effect on our financial position. See Part I.\nItem 1A. “Risk Factors — Legal and Regulatory Related Risks — Contingent or unknown liabilities could\nadversely affect our financial condition, cash flows, and operating results.”\nLaws and Regulations Regarding Privacy and Data Protection\nWe are subject to a variety of laws and regulations that involve matters such as privacy, data protection,\ncontent, consumer protection, and other matters. For example, the California Consumer Privacy Act and the\nNevada Privacy Law, which took effect in January 2020, establish certain transparency rules and create new data\nprivacy rights for users, including more ability to control how their data is shared with third parties. See Part I.\nItem 1A. “Risk Factors — Risks Related to Information Technology, Cybersecurity, and Data Protection — Our\nbusiness is subject to laws and regulations regarding privacy, data protection, consumer protection, and other\nmatters. Many of these laws and regulations are subject to change and uncertain interpretation, and could\nresult in claims, changes to our business practices, monetary penalties, or otherwise harm our business.”\nSegment Reporting\nOperating segments are defined as components of an enterprise for which discrete financial information is\navailable that is evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to\nallocate resources and in assessing performance. Our CODM is the Chief Executive Officer.\nUnder the provisions of ASC 280, Segment Reporting, we have determined that we have one reportable\nsegment related to acquiring, renovating, leasing, and operating single-family homes as rental properties. The\nCODM evaluates operating performance and allocates resources on a total portfolio basis. The CODM utilizes\nnet operating income (“NOI”) as the primary measure to evaluate performance of the total portfolio.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_cash_flow",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 84m, investing: 14m, financing: 605.5m",
      "golden_context": "Page 38:\n\nevent the conversion is settled in cash, to provide a source of cash to settle a portion of our cash payment obligation) in the event that at the time of\nconversion our stock price exceeds the conversion price under the Convertible Senior Notes. The Capped Calls have an initial strike price of $335.90 per\nshare and cover 3.5 million shares of our common stock.\nAdditional information regarding our debt is provided in Note 12 to the consolidated financial statements.\nSummary of Cash Flows\nYears Ended December 31,\n(in millions) 2020 2019\nCash provided by (used in):\nOperating activities $ 84.0 $ 98.4\nInvesting activities 14.0 (73.6)\nFinancing activities 605.5 73.5\nEffect of exchange rate changes on cash 4.8 1.5\nNet increase in cash and cash equivalents $ 708.3 $ 99.8\nOperating Activities\nNet cash provided by operating activities of $84.0 million in 2020 was primarily attributable to net income, as adjusted for depreciation and amortization,\nnon-cash interest, and stock-based compensation, and a $63.4 million working capital cash outflow. The working capital outflow was driven by a $50.5\nmillion increase in inventories, a $32.2 million increase in prepaid expenses and other assets and a $15.6 million increase in accounts receivable,\npartially offset by a $27.8 million increase in accrued expenses and other liabilities, primarily driven by manufacturing operations costs associated with\nthe addition of our new contract manufacturer, as well as an increase in pharmacy rebates due to growth in the pharmacy channel. The increase in\ninventories was primarily driven by a planned inventory build associated with the further roll out of Omnipod DASH and an increase in work in progress\ninventory due to additional capacity from our new contract manufacturer. The increase in prepaid expenses and other assets was primarily driven by an\nincrease in software licenses due to head count additions, and an increase in software-as-a-service to support our strategic initiatives. The increase in\naccounts receivable was primarily driven by revenue growth.\nNet cash provided by operating activities of $98.4 million in 2019 was primarily attributable to net income, as adjusted for non-cash interest, stock-based\ncompensation, depreciation and amortization, partially offset by a $19.7 million working capital cash outflow. The working capital outflow was driven by a\n$30.2 million increase in inventories and a $22.0 million increase in prepaid expenses and other assets, offset by a $25.6 million increase in accounts\npayable and a $17.7 million increase in accrued expenses and other liabilities, primarily driven by timing of payments. The increase in inventories was\nprimarily due to an increase in raw materials and finished goods related to the startup of our U.S. manufacturing plant and an increase in work-in-process\nto support demand for our product. The increase in prepaid expenses and other assets was primarily driven by an increase in operating lease assets\nresulting from new leases entered into during the year and an increase in deferred commissions.\nInvesting Activities\nNet cash provided by investing activities was $14.0 million in 2020, compared with net cash used in investing activities of $73.6 million in 2019.\nCapital Spending—Capital expenditures were $129.0 million in 2020 and primarily related to equipment to increase our manufacturing capacity. Capital\nexpenditures were $163.7 million in 2019 and primarily related to the construction of our manufacturing and corporate headquarters facility in Acton,\nMassachusetts. We expect capital expenditures for 2021 to increase compared with 2020 as we continue to expand manufacturing capacity to support\nour growth and the launch of Omnipod 5. We expect to fund our capital expenditures using a combination of existing cash and investments as well as\ncash generated from operations.\nPurchases and Sales of Investments—During 2020, net sales of marketable securities were $180.5 million, compared with net purchases of marketable\nsecurities of $97.3 million for 2019. The increase in net sales of marketable securities was driven by a shift in a portion of our investment portfolio to\ninvestments that are classified as cash equivalents in order to satisfy future cash needs.\nAcquisition of Intangible Assets—In 2020, following the resolution of a purchase price contingency associated with our 2018 acquisition of customer\nrelationships from a former European distributor, we paid the distributor an additional $36.2 million for a total purchase price of $41.2 million. We had\npreviously paid the distributor $3.8 million in 2019 and the remainder in 2018.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_company_type",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 3:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2020\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-33462\nINSULET CORPORATION\n(Exact name of Registrant as specified in its charter)\nDelaware 04-3523891\n(State or Other Jurisdiction of\nIncorporation or Organization)\n(I.R.S. Employer\nIdentification No.)\n100 Nagog Park Acton Massachusetts 01720\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s telephone number, including area code: ( 978) 600-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered\nCommon Stock, $0.001 Par Value Per Share PODD The NASDAQ Stock Market, LLC\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No\n¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes\n¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past\n90 days. Yes x No\n¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No\n¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the\ndefinitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filerx Non-accelerated filer\n¨\nAccelerated filer\n¨ Smaller reporting company ☐\nEmerging growth company☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.\n¨\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over\nfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit\nreport. ☒\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the common stock held by non-affiliates of the registrant computed by reference to the last reported sale price of the Common Stock as\nreported on The NASDAQ Global Market on June 30, 2020 was approximately $12.7 billion.\nThe number of shares of common stock outstanding as of February 18, 2021 was 66,080,324.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe registrant intends to file a proxy statement pursuant to Regulation 14A within 120 days of the end of the fiscal year ended December 31, 2020. Portions of such\nproxy statement are incorporated by reference into Part III of this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_key_financials",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net income 6.8m, adjusted EBITDA: 146.1m",
      "golden_context": "Page 37:\n\nAdjusted EBITDA\nThe table below presents reconciliations of Adjusted EBITDA, a non-GAAP financial measure, to net income, the most directly comparable financial\nmeasure prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”):\nYears Ended December 31,\n(in millions) 2020 2019\nNet income $ 6.8 $ 11.6\nInterest expense, net 45.1 27.7\nIncome tax expense 2.9 2.9\n(1)\nDepreciation and amortization 55.4 27.9\n(2)\nStock-based compensation 35.9 28.7\nLoss on extinguishment of debt — 8.7\nAdjusted EBITDA $ 146.1 $ 107.5\n(1)\nThe year ended December 31, 2020 includes $14.6 million of cumulative amortization expense associated with customer relationships that were\nacquired on July 1, 2018. For more information see Note 13 to the consolidated financial statements.\n(2)\nThe year ended December 31, 2020 includes $7.3 million of stock-based compensation expense related to a company-wide 20th anniversary equity\ngrant, a significant portion of which immediately vested.\nNon-GAAP Financial Measures\nManagement uses the following non-GAAP financial measures:\nConstant currency revenue growth represents the change in revenue between current and prior year periods using a constant currency, the exchange\nrate in effect during the applicable prior year period. We present constant currency revenue growth because we believe it provides meaningful\ninformation regarding our results on a consistent and comparable basis. Management uses this non-GAAP financial measure, in addition to financial\nmeasures in accordance with GAAP , to evaluate our operating results. It is also one of the performance metrics that determines management incentive\ncompensation.\nAdjusted EBITDA represents net income (loss) plus net interest expense, income tax expense (benefit), depreciation and amortization, stock-based\ncompensation and other significant unusual items, as applicable. We present Adjusted EBITDA because management uses it as a supplemental measure\nin assessing our operating performance, and we believe that it is helpful to investors, and other interested parties as a measure of our comparative\noperating performance from period to period. Adjusted EBITDA is a commonly used measure in determining business value and we use it internally to\nreport results.\nThese non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in\naccordance with GAAP . In addition, the above definitions may differ from similarly titled measures used by others. Non-GAAP financial measures exclude\nthe effect of items that increase or decrease our reported results of operations; accordingly, we strongly encourage investors to review our consolidated\nfinancial statements in their entirety.\nLiquidity and Capital Resources\nAs of December 31, 2020, we had $907.2 million in cash and cash equivalents and $40.4 million of investments in marketable securities. We believe that\nour current liquidity will be sufficient to meet our projected operating, investing and debt service requirements for at least the next twelve months.\nConvertible Debt\nTo finance our o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_revenue",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "904.4m",
      "golden_context": "Page 35:\n\nsis and Results of Operations in our Form 10-K for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission on\nFebruary 26, 2020.\nComparison of the Years Ended December 31, 2020 and December 31, 2019\nRevenue\nYears Ended December 31,\n(In millions) 2020 2019 % Change Currency Impact Constant Currency\n(1)\nU.S. Omnipod $ 526.9 $ 420.4 25.3 % — % 25.3 %\nInternational Omnipod 308.0 253.1 21.7 % 1.8 % 19.9 %\nTotal Omnipod 834.9 673.5 24.0 % 0.7 % 23.3 %\nDrug Delivery 69.5 64.7 7.4 % — % 7.4 %\nTotal $ 904.4 $ 738.2 22.5 % 0.6 % 21.9 %\n(1)\nConstant currency revenue growth is a non-GAAP financial measure which should be considered supplemental to, and not a substitute for, our\nreported financial results prepared in accordance with GAAP. See “Management’s Use of Non-GAAP Measures.\n”\nTotal revenue for 2020 increased $166.2 million, or 22.5%, to $904.4 million, compared with $738.2 million in 2019. Constant currency revenue growth of\n21.9% was primarily driven by higher volume and, to a lesser extent, favorable sales channel mix. The COVID-19 pandemic negatively impacted global\nnew customer starts throughout 2020, largely beginning in the second quarter. We expect our revenues in 2021 to continue to be impacted by the global\npandemic's effect on both 2020 and 2021 new customer starts, particularly in our international markets.\nU.S. Omnipod\nU.S. Omnipod revenue for 2020 increased $106.5 million, or 25.3%, to $526.9 million, compared with $420.4 million in 2019. This increase was primarily\ndue to higher volumes driven by growing our customer base and, to a lesser extent, an increase due to growth through the pharmacy channel, where\nPods have a higher average selling price due in part to the fact that we offer the PDM for no charge. In 2021, we expect strong Omnipod revenue growth\ndriven by continued market penetration and volume growth of Omnipod DASH, primarily in the pharmacy channel. We expect this revenue growth to be\npartially offset by the impact of lower new customer starts in 2020 stemming from COVID-19.\nInternational Omnipod\nInternational Omnipod revenue for 2020 increased $54.9 million, or 21.7%, to $308.0 million, compared with $253.1 million in 2019. Excluding the 1.8%\nfavorable impact of currency exchange, the remaining 19.9% increase was primarily due to higher volumes as we continue to expand awareness and\naccess to the Omnipod. Similar to in the U.S., in 2021, we expect higher International Omnipod revenue due to continued volume growth and market\npenetration aided by the full launch of Omnipod DASH throughout our international markets and our virtual training capabilities. We expect this revenue\ngrowth to be partially offset by the impact of lower new customer starts in 2020 stemming from COVID-19 and continued lockdowns in Europe.\nDrug Delivery\nDrug Delivery revenue for 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_revenue_growth",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "904.4m, prior year 738.2m",
      "golden_context": "Page 35:\n\nsis and Results of Operations in our Form 10-K for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission on\nFebruary 26, 2020.\nComparison of the Years Ended December 31, 2020 and December 31, 2019\nRevenue\nYears Ended December 31,\n(In millions) 2020 2019 % Change Currency Impact Constant Currency\n(1)\nU.S. Omnipod $ 526.9 $ 420.4 25.3 % — % 25.3 %\nInternational Omnipod 308.0 253.1 21.7 % 1.8 % 19.9 %\nTotal Omnipod 834.9 673.5 24.0 % 0.7 % 23.3 %\nDrug Delivery 69.5 64.7 7.4 % — % 7.4 %\nTotal $ 904.4 $ 738.2 22.5 % 0.6 % 21.9 %\n(1)\nConstant currency revenue growth is a non-GAAP financial measure which should be considered supplemental to, and not a substitute for, our\nreported financial results prepared in accordance with GAAP. See “Management’s Use of Non-GAAP Measures.\n”\nTotal revenue for 2020 increased $166.2 million, or 22.5%, to $904.4 million, compared with $738.2 million in 2019. Constant currency revenue growth of\n21.9% was primarily driven by higher volume and, to a lesser extent, favorable sales channel mix. The COVID-19 pandemic negatively impacted global\nnew customer starts throughout 2020, largely beginning in the second quarter. We expect our revenues in 2021 to continue to be impacted by the global\npandemic's effect on both 2020 and 2021 new customer starts, particularly in our international markets.\nU.S. Omnipod\nU.S. Omnipod revenue for 2020 increased $106.5 million, or 25.3%, to $526.9 million, compared with $420.4 million in 2019. This increase was primarily\ndue to higher volumes driven by growing our customer base and, to a lesser extent, an increase due to growth through the pharmacy channel, where\nPods have a higher average selling price due in part to the fact that we offer the PDM for no charge. In 2021, we expect strong Omnipod revenue growth\ndriven by continued market penetration and volume growth of Omnipod DASH, primarily in the pharmacy channel. We expect this revenue growth to be\npartially offset by the impact of lower new customer starts in 2020 stemming from COVID-19.\nInternational Omnipod\nInternational Omnipod revenue for 2020 increased $54.9 million, or 21.7%, to $308.0 million, compared with $253.1 million in 2019. Excluding the 1.8%\nfavorable impact of currency exchange, the remaining 19.9% increase was primarily due to higher volumes as we continue to expand awareness and\naccess to the Omnipod. Similar to in the U.S., in 2021, we expect higher International Omnipod revenue due to continued volume growth and market\npenetration aided by the full launch of Omnipod DASH throughout our international markets and our virtual training capabilities. We expect this revenue\ngrowth to be partially offset by the impact of lower new customer starts in 2020 stemming from COVID-19 and continued lockdowns in Europe.\nDrug Delivery\nDrug Delivery revenue for 2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000380_segments",
      "report_id": "ID_000380",
      "company_name": "Insulet",
      "year": 2020,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "one reportable segment",
      "golden_context": "Page 55:\n\nNote 3. Segment and Geographic Data\nThe Company operates under one reportable segment. Operating segments are defined as components of an enterprise for which separate financial\ninformation is available that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an\nindividual segment and in assessing performance of the segment. The Company has concluded that its Chief Executive Officer (“CEO”) is the CODM as\nthe CEO is the ultimate decision maker for key operating",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_cash_flow",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "operating: 119m, \ninvesting: -191.1m, \nfinancing: -40.3m",
      "golden_context": "Page 37:\n\nt also contains other customary covenants, none of which are considered restrictive to our operations. Additionally, we have a seven year term loan, which matures\nin 2028, that contains covenants restricting or limiting our ability to incur additional indebtedness, make asset dispositions, create or permit liens, sell, transfer or\nexchange assets, guarantee certain indebtedness, and make acquisitions and other investments. Additional information regarding our debt is provided in Note 15 to\nthe consolidated financial statements.\nWe believe that our current liquidity will be sufficient to meet our projected operating, investing, and debt service requirements for at least the next twelve months.\nSummary of Cash Flows\nYears Ended December 31,\n(in millions) 2022 2021\nCash provided by (used in):\nOperating activities $ 119.0 $ (68.1)\nInvesting activities (191.1) (82.7)\nFinancing activities (40.3) 40.7\nEffect of exchange rate changes on cash (4.3) (5.5)\nNet decrease in cash, cash equivalents, and restricted cash $ (116.7) $ (115.6)\nOperating Activities\nNet cash provided by operating activities of $119.0 million in 2022 was primarily attributable to net income, as adjusted for depreciation and amortization and stock-\nbased compensation expense, partially offset by a $2.5 million working capital cash outflow. The working capital outflow was driven by a $36.8 million increase in\nprepaid expenses and other assets, a $51.8 million increase in accounts receivable, and a $49.1 million increase in inventories, partially offset by a $137.6 million\nincrease in accrued expenses and other liabilities. The increase in prepaid expenses and other assets was primarily driven by an increase in cloud computing\nimplementation costs. The increase in accounts receivable was primarily due to an increase in sales in the U.S. pharmacy channel, which has longer payment terms,\npartially offset by a decrease in unbilled accounts receivable related to lower production volumes of our Drug Delivery product. The increase in inventories was\nprimarily driven by a planned inventory build to satisfy demand. Finally, the increase in accrued expenses and other liabilities was primarily driven by the voluntary\nMDCs issued for our Omnipod DASH PDMs and Omnipod 5 Controllers, an increase in rebates due to growth in the pharmacy channel and an increase in\ncompensation costs due to higher incentive compensation achievement and head count additions.\nNet cash used in operating activities of $68.1 million in 2021 was primarily attributable to net income, as adjusted for depreciation and amortization, loss on\nextinguishment of debt, non-cash interest, and stock-based compensation expense, partially offset by a $263.6 million working capital cash outflow. The working\ncapital outflow was driven by a $154.4 million increase in inventories, a $71.3 million increase in accounts receivable and a $46.7 million increase in prepaid\nexpenses and other assets, partially offset by a $24.4 million increase in accrued expenses and other liabilities. The increase in inventories was primarily driven by a\nplanned inventory build to satisfy demand and the addition of our third highly automated manufacturing line. The increase in accounts receivable was primarily due\nto an increase in sales in the U,S. pharmacy channel, which has longer payment terms. The increase in prepaid expenses and other assets was primarily driven by an\nincrease in cloud computing implementation costs. Finally, the increase in accrued expenses and other liabilities was primarily driven by an increase in rebates due\nto growth in the pharmacy channel and higher compensation costs due to an increase in both incentive compensation achievement and head count.\nInvesting Activities\nWe had $191.1 million of net cash used in investing activities in 2022, compared with $82.7 million in 2021.\nCapital Spending—Capital expenditures were $122.9 million and $111.9 million in 2022 and 2021, respectively, and primarily related to the purchase of equipment\nto increase our manufacturing capacity. We expect capital expenditures for 2023 to decrease compared with 2022 given our significant investments to build capacity\nin 2022, including acceleration of some of our spending on machinery and equipment for our new Malaysia manufacturing facility that is under construction. We\nexpect to fund our capital expenditures using existing cash.\nInvestments in Developed Software—Investments in developed software were $12.9 million and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_company_type",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-33462\nINSULET CORPORATION\n(Exact name of Registrant as specified in its charter)\nDelaware 04-3523891\n(State or Other Jurisdiction of\nIncorporation or Organization)\n(I.R.S. Employer\nIdentification No.)\n100 Nagog Park Acton Massachusetts 01720\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s telephone number, including area code: (978) 600-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $0.001 Par Value Per Share Trading Symbol(s) PODD Name of Each Exchange on Which Registered\nThe NASDAQ Stock Market, LLC\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer x Non-accelerated filer ¨\nAccelerated filer ¨ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\nThe aggregate market value of the common stock held by non-affiliates of the registrant computed by reference to the last reported sale price of the Common Stock as reported on The\nNASDAQ Global Market on June 30, 2022 was approximately $15.1 billion.\nThe number of shares of common stock outstanding as of February 16, 2023 was 69,542,257.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe registrant intends to file a proxy statement pursuant to Regulation 14A within 120 days of the end of the fiscal year ended December 31, 2022. Portions of such proxy statement\nare incorporated by reference into Part III of this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_key_financials",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net income 4.6m, adjusted EBITDA: 224.8m",
      "golden_context": "Page 35:\n\nItems\nInterest Expense, Net\nInterest expense, net for 2022 decreased $34.5 million, or 56.4%, to $26.7 million, compared with $61.2 million in 2021. This decrease was primarily driven by the\nadoption of Accounting Standards Update 2020-06, Accounting for Convertible Debt Instruments and Contracts in an Entity's Own Equity (“ASU 2020-06”), which\neliminated most of the non-cash interest expense associated with our convertible notes. Refer to Recently Adopted Accounting Standard in Note 2 to our\nconsolidated financial statements for additional information.\nLoss on Extinguishment of Debt\nDuring 2021, we incurred a $42.4 million loss on extinguishment of debt related to the repurchase and conversion of all of our outstanding 1.375% Notes. Refer to\nNote 15 to our consolidated financial statements for additional information.\nOther Expense, Net\nOther expense, net for 2022 decreased $0.8 million to $1.1 million, compared with $1.9 million in 2021. The decrease was primarily driven by an increase in\nunrealized foreign currency gains, which was partially offset by realized foreign currency losses.\nIncome Tax Expense\nIncome tax expense was $5.2 million on pre-tax income of $9.8 million for 2022 and $3.7 million on pre-tax income of $20.5 million for 2021. Our effective tax rate\nwas 53.4% and 18.2% for 2022 and 2021, respectively. The increase in our effective tax rate was primarily driven by a decrease in pre-tax income in the U.S. where\nwe have net operating loss carryforwards to reduce taxable profits and a full valuation allowance against deferred tax assets. Refer to Note 22 to our consolidated\nfinancial statements for additional information on our income tax expense.\nAdjusted EBITDA\nThe table below presents reconciliations of Adjusted EBITDA, a non-GAAP financial measure, to net income, the most directly comparable financial measure\nprepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”):\nYears Ended December 31,\n(in millions) 2022 2021\nNet income $ 4.6 $ 16.8\nInterest expense, net 26.7 61.2\nIncome tax expense 5.2 3.7\nDepreciation and amortization 63.2 57.4\nStock-based compensation expense 38.6 34.4\n(1)\nV oluntary MDCs 57.9\n—\n(2)\nLegal costs 25.2\n—\n(3)\nCEO transition costs 3.4\n—\n(4)\nLoss on extinguishment of debt —\n42.4\nAdjusted EBITDA $ 224.8 $ 215.9\n(1)\nRepresents net charge recorded for the estimated costs associated with the voluntary MDCs. Refer to Note 13 to our consolidated financial statements for\nadditional information.\n(2)\nIncludes a $20.0 million charge to settle patent infringement litigation with Roche, associated legal fees, and a $3.6 million charge to settle a contract dispute.\nRefer to Note 17 to our consolidated financial statements for additional information.\n(3)\nRepresents costs associated with the retirement and advisory services of our former chief executive officer, including $2.3 million of accelerated stock-based\ncompensation expense.\n(4)\nRelates to the repurchase and conversion of all of our",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_revenue",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "1305.3m",
      "golden_context": "Page 33:\n\nResults of Operations\nThe discussion of our results of operations for 2020 has been omitted from this Form 10-K but can be found in Item 7. Management’s Discussion and Analysis and\nResults of Operations in our Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission on February 24, 2022.\nFactors Affecting Operating Results\nOur Pods are intended to be used continuously for up to three days and then be replaced with a new disposable Pod. We recently achieved a milestone of 360,000\nestimated global customers using Omnipod, including over 100,000 U.S. customers using the Omnipod 5. As we grow our customer base, we expect to generate an\nincreasing portion of our revenues through recurring sales of our disposable Pods, which provides recurring revenue. Our recurring revenue business model,\nalongside the Omnipod System’s unique patented design enables us to provide pump therapy at a low or no up-front investment in regions where reimbursement\nallows for it. Our pay-as-you-go pricing model also reduces the risk to third-party payors.\nDuring 2022, we issued two voluntary MDCs, one in October for our Omnipod DASH PDM related to its battery and the other in November for our Omnipod 5\nController related to the charging port and cable. In addition to the estimated liability we recorded in 2022, we have a performance obligation to replace Omnipod\nDASH PDMs and Omnipod 5 Controllers sold subsequent to the MDC issuances, which is expected to negatively impact gross margins and net income in 2023,\nmost notably in the first half of the year.\nWe have also experienced and expect to continue to experience challenges stemming from the global supply chain disruption that began during the coronavirus\npandemic (“COVID-19”); however, to date we have been able to successfully mitigate this disruption and ensure uninterrupted supply to our customers by\nincreasing our inventory levels and taking other measures. While our mitigation efforts and inflation have and are expected to continue to negatively impact gross\nmargins and net income in 2023, we intend to continue to work to improve productivity to help offset these costs.\nComparison of the Years Ended December 31, 2022 and December 31, 2021\nRevenue\nYears Ended December 31,\nCurrency\n(In millions) 2022 2021 % Change\nImpact Constant Currency\n(1)\nU.S. Omnipod $ 884.8 $ 651.5 35.8 % —\n% 35.8 %\nInternational Omnipod 363.0 359.9 0.9 % (11.2)% 12.1 %\nTotal Omnipod 1,247.8 1,011.4 23.4 % (3.6)% 27.0 %\nDrug Delivery 57.5 87.4 (34.2)% —\n% (34.2)%\nTotal $ 1,305.3 $ 1,098.8 18.8 % (3.4)% 22.2 %\n(1)\nConstant currency revenue growth is a non-GAAP financial measure which should be considered supplemental to, and not a substitute for, our reported financial results prepared in\naccordance with GAAP. See “Management’s Use of Non-GAAP Measures.”\nTotal revenue for 2022 increased $206.5 million, or 18.8%, to $1,305.3 million, compared with $1,098.8 million in 2021. Constant currency revenue growth of\n22.2% was primarily driven by higher volume and, to a lesser extent, favorable sales channel mix.\nU.S. Omnipod\nU.S. Omnipod revenue for 2022 increased $233.3 million, or 35.8%, to $884.8 million, compared with $651.5 million in 2021. This increase was primarily due to\nhigher Omnipod 5 and Omnipod DASH volumes driven by growing our customer base and, to a lesser extent, growth through the pharmacy channel, where Pods\nhave a higher average selling price due in part to the fact that we offer the PDM/Controller for no charge. Existing customer conversions to Omnipod 5 also\ncontributed to the revenue increase as some users fill both their starter kit and their first month of refills simultaneously.\nU.S. Omnipod revenue for 2022 includes $249.9 million of related party revenue, compared with $58.2 million in 2021. The $191.7 million increase primarily\nresulted from a shift in certain revenues from one distributor to another as we worked to extend our reach through the pharmacy channel. Additional information\nregarding our related party transactions is provided in Note 5 to our consolidated financial statements.\nIn 2023, we expect strong Omnipod revenue growth driven by continued volume growth of Omnipod 5 in the pharmacy channel, continued adoption of Omnipod\nDASH, and the benefits of our recurring revenue model.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_revenue_growth",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "1305.3m, prior year: 1098.8m",
      "golden_context": "Page 33:\n\nResults of Operations\nThe discussion of our results of operations for 2020 has been omitted from this Form 10-K but can be found in Item 7. Management’s Discussion and Analysis and\nResults of Operations in our Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission on February 24, 2022.\nFactors Affecting Operating Results\nOur Pods are intended to be used continuously for up to three days and then be replaced with a new disposable Pod. We recently achieved a milestone of 360,000\nestimated global customers using Omnipod, including over 100,000 U.S. customers using the Omnipod 5. As we grow our customer base, we expect to generate an\nincreasing portion of our revenues through recurring sales of our disposable Pods, which provides recurring revenue. Our recurring revenue business model,\nalongside the Omnipod System’s unique patented design enables us to provide pump therapy at a low or no up-front investment in regions where reimbursement\nallows for it. Our pay-as-you-go pricing model also reduces the risk to third-party payors.\nDuring 2022, we issued two voluntary MDCs, one in October for our Omnipod DASH PDM related to its battery and the other in November for our Omnipod 5\nController related to the charging port and cable. In addition to the estimated liability we recorded in 2022, we have a performance obligation to replace Omnipod\nDASH PDMs and Omnipod 5 Controllers sold subsequent to the MDC issuances, which is expected to negatively impact gross margins and net income in 2023,\nmost notably in the first half of the year.\nWe have also experienced and expect to continue to experience challenges stemming from the global supply chain disruption that began during the coronavirus\npandemic (“COVID-19”); however, to date we have been able to successfully mitigate this disruption and ensure uninterrupted supply to our customers by\nincreasing our inventory levels and taking other measures. While our mitigation efforts and inflation have and are expected to continue to negatively impact gross\nmargins and net income in 2023, we intend to continue to work to improve productivity to help offset these costs.\nComparison of the Years Ended December 31, 2022 and December 31, 2021\nRevenue\nYears Ended December 31,\nCurrency\n(In millions) 2022 2021 % Change\nImpact Constant Currency\n(1)\nU.S. Omnipod $ 884.8 $ 651.5 35.8 % —\n% 35.8 %\nInternational Omnipod 363.0 359.9 0.9 % (11.2)% 12.1 %\nTotal Omnipod 1,247.8 1,011.4 23.4 % (3.6)% 27.0 %\nDrug Delivery 57.5 87.4 (34.2)% —\n% (34.2)%\nTotal $ 1,305.3 $ 1,098.8 18.8 % (3.4)% 22.2 %\n(1)\nConstant currency revenue growth is a non-GAAP financial measure which should be considered supplemental to, and not a substitute for, our reported financial results prepared in\naccordance with GAAP. See “Management’s Use of Non-GAAP Measures.”\nTotal revenue for 2022 increased $206.5 million, or 18.8%, to $1,305.3 million, compared with $1,098.8 million in 2021. Constant currency revenue growth of\n22.2% was primarily driven by higher volume and, to a lesser extent, favorable sales channel mix.\nU.S. Omnipod\nU.S. Omnipod revenue for 2022 increased $233.3 million, or 35.8%, to $884.8 million, compared with $651.5 million in 2021. This increase was primarily due to\nhigher Omnipod 5 and Omnipod DASH volumes driven by growing our customer base and, to a lesser extent, growth through the pharmacy channel, where Pods\nhave a higher average selling price due in part to the fact that we offer the PDM/Controller for no charge. Existing customer conversions to Omnipod 5 also\ncontributed to the revenue increase as some users fill both their starter kit and their first month of refills simultaneously.\nU.S. Omnipod revenue for 2022 includes $249.9 million of related party revenue, compared with $58.2 million in 2021. The $191.7 million increase primarily\nresulted from a shift in certain revenues from one distributor to another as we worked to extend our reach through the pharmacy channel. Additional information\nregarding our related party transactions is provided in Note 5 to our consolidated financial statements.\nIn 2023, we expect strong Omnipod revenue growth driven by continued volume growth of Omnipod 5 in the pharmacy channel, continued adoption of Omnipod\nDASH, and the benefits of our recurring revenue model.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000381_segments",
      "report_id": "ID_000381",
      "company_name": "Insulet",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "One operating segment",
      "golden_context": "Page 55:\n\nNote 3. Segment and Geographic Data\nThe Company operates under one reportable segment. Operating segments are defined as components of an enterprise for which separate financial information is\navailable that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an individual segment and in\nassessing performance of the segment. The Company has concluded that its Chief Executive Officer (“CEO”) is the CODM as the CEO is the ultimate decision\nmaker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations,\nand assessments are performed by the CODM using consolidated financial information, as the Company’s current product offering primarily consists of the\nOmnipod System and drug delivery device based on the Omnipod platform.\nGeographic information about revenue, based on customer location, is as follows:\nYears Ended December 31,\n(in millions) 2022 2021 2020\nUnited States (1)\nTotal $ 942.3 $ 738.9 $ 596.4\nInternational 363.0 359.9 308.0\n$",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_cash_flow",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 145.7m, investing: -119.4m, financing: -13.6m",
      "golden_context": "Page 37:\n\nbt-to-total capital ratio Net debt-to-total capital ratio $ 704.2 $ 674.7\n$ 49.4 $ 27.5\n$ 1,366.4 $ 1,374.3\n$ 1,415.8 $ 1,401.8\n$ 732.7 $ 476.4\n66 % 75 %\n33 % 39 %\nConvertible Debt\nTo finance our operations and global expansion, we have periodically issued convertible senior notes, which are convertible into our common stock. As of\nDecember 31, 2023, the following notes were outstanding:\nPrincipal Outstanding\nIssuance Date Coupon\n(in millions) Due Date Conversion Rate\n(1)\nConversion Price\nper Share of Common Stock\nSeptember 2019 0.375% $ 800.0 September 2026 4.4105 $226.73\n(1)\nPer $1,000 face value of notes.\nIn connection with the issuance of the 0.375% Convertible Senior Notes (“0.375% Notes”), we purchased capped call options (“Capped Calls”) on our common\nstock. By entering into the Capped Calls, we expect to reduce the potential dilution to our common stock (or, in the event the conversion is settled in cash, to\nprovide a source of cash to settle a portion of our cash payment obligation) in the event that at the time of conversion our stock price exceeds the conversion price\nunder the 0.375% Notes. The Capped Calls have an initial strike price of $335.90 per share and cover 3.5 million shares of our common stock.\nCredit Agreement\nWe have a $300 million senior secured revolving credit facility (the “Revolving Credit Facility”), which expires in 2028. At December 31, 2023, no amount was\noutstanding under the Revolving Credit Facility. The Revolving Credit Facility contains a covenant to maintain a specified leverage ratio under certain conditions\nwhen there are amounts outstanding under the facility. It also contains other customary covenants, none of which are considered restrictive to our operations.\nAdditionally, we have a seven year term loan, which matures in 2028, that contains covenants restricting or limiting our ability to incur additional indebtedness,\nmake asset dispositions, create or permit liens, sell, transfer or exchange assets, guarantee certain indebtedness, and make acquisitions and other investments.\nAdditional information regarding our debt is provided in Notes 16 and 26 to the consolidated financial statements.\nWe believe that our current liquidity will be sufficient to meet our projected operating, investing, and debt service requirements for at least the next twelve months.\nSummary of Cash Flows\nYears Ended December 31,\n(in millions) 2023 2022\nCash provided by (used in):\nOperating activities $ 145.7 $ 119.0\nInvesting activities (119.4) (191.1)\nFinancing activities (13.6) (40.3)\nEffect of exchange rate changes on cash 1.8 (4.3)\nNet increase (decrease) in cash, cash equivalents, and restricted cash $ 14.5 $ (116.7)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_company_type",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number 001-33462\nINSULET CORPORATION\n(Exact name of Registrant as specified in its charter)\nDelaware 04-3523891\n(State or Other Jurisdiction of\nIncorporation or Organization)\n(I.R.S. Employer\nIdentification No.)\n100 Nagog Park Acton Massachusetts 01720\n(Address of Principal Executive Offices) (Zip Code)\nRegistrant’s telephone number, including area code: (978) 600-7000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common Stock, $0.001 Par Value Per Share Trading Symbol(s) PODD Name of Each Exchange on Which Registered\nThe NASDAQ Stock Market, LLC\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer x Non-accelerated filer ¨\nAccelerated filer ¨ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of\nan error to previously issued financial statements. ¨\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ¨\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nThe aggregate market value of the common stock held by non-affiliates of the registrant computed by reference to the last reported sale price of the Common Stock as reported on\nThe NASDAQ Global Market on June 30, 2023 was approximately $20.1 billion.\nThe number of shares of common stock outstanding as of February 15, 2024 was 69,925,730.\nDOCUMENTS INCORPORATED BY REFERENCE\nThe registrant intends to file a proxy statement pursuant to Regulation 14A within 120 days of the end of the fiscal year ended December 31, 2023. Portions of such proxy statement\nare incorporated by reference into Part III of this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_key_financials",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Net income 206.3m, adjusted EBITDA 329.2m",
      "golden_context": "Page 36:\n\njusted EBITDA\nThe table below presents reconciliations of Adjusted EBITDA, a non-GAAP financial measure, to net income, the most directly comparable financial measure\nprepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”):\nYears Ended December 31,\n(in millions) 2023 2022\nNet income $ 206.3 $ 4.6\nInterest expense, net 7.6 26.7\nIncome tax expense 8.3 5.2\nDepreciation and amortization 72.8 63.2\nStock-based compensation expense 48.3 38.6\nV oluntary medical device corrections (1)\n(11.5) 57.9\nUnrealized gains on investments (2)\n(2.6) —\n(3)\nLegal costs —\n25.2\n(4)\nCEO transition costs —\n3.4\nAdjusted EBITDA $ 329.2 $ 224.8\n(1)\nRepresents net (income) expense resulting from estimated costs associated with the voluntary MDC notices issued in the fourth quarter of 2022 and adjustments to those costs,\nwhich is included in cost of revenue. Refer to Note 14 to our consolidated financial statements for additional information.\n(2)\nRepresents non-operating gains related to fair value adjustments of strategic debt and equity investments.\n(3)\nIncludes a $20.0 million charge to settle patent infringement litigation with Roche, associated legal fees, and a $3.6 million charge to settle a contract dispute. Refer to Note 19 to\nour consolidated financial statements for additional information.\n(4)\nRepresents costs associated with the retirement and advisory services of our former chief executive officer, including $2.3 million of accelerated stock-based compensation\nexpense.\nNon-GAAP Financial Measures\nManagement uses the following non-GAAP financial measures:\nConstant currency revenue growth represents the change in revenue between current and prior year periods using the exchange rate in effect during the applicable\nprior year period. We present constant currency revenue growth because we believe it provides meaningful information regarding our results on a consistent and\ncomparable basis. Management uses this non-GAAP financial measure, in addition to financial measures in accordance with GAAP, to evaluate our operating\nresults. It is also one of the performance metrics that determines management incentive compensation.\nAdjusted EBITDA represents net income plus net interest expense, income tax expense, depreciation and amortization, stock-based compensation expense and\nother significant transactions or events, such as legal settlements, medical device corrections, gains (losses) on investments, and loss on extinguishment of debt,\nwhich affect the period-to-period comparability of our operating performances, as applicable. We present Adjusted EBITDA because management uses it as a\nsupplemental measure in assessing our operating performance, and we believe that it is helpful to investors, and other interested parties as a measure of our\ncomparative operating performance from period to period. Adjusted EBITDA is a commonly used measure in determining business value and we use it internally to\nreport results.\nThese non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with\nGAAP. In addition, the above definitions may differ from similarly",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_revenue",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "1697.1m",
      "golden_context": "Page 56:\n\ntion resulting from the derecognition of the embedded conversion feature and debt issuance costs bifurcated to equity, a $60.6 million decrease to the opening\nbalance of accumulated deficit representing the cumulative interest expense recognized related to the amortization of the bifurcated conversion option and debt\nissuance costs, and a $147.1 million increase in long-term debt resulting from the derecognition of the discount associated with the embedded conversion feature,\noffset by the remaining debt issuance costs reclassified out of equity. In addition, the Company wrote-off the related deferred tax liabilities with a corresponding\nadjustment to the valuation allowance, resulting in no net impact to the cumulative adjustment recorded to accumulated deficit. Adoption of this standard had no\nimpact on the Company’s diluted earnings per share as the Company historically calculated earnings per share using the if-converted method.\nReference Rate Reform—ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Reporting and ASU 2021-01,\nReference Rate Reform (Topic 848) – Scope allow companies to elect optional expedients and exceptions for applying U.S. GAAP to contracts, hedging\nrelationships, and other transactions affected by reference rate reform (e.g., discontinuation of the London Interbank Offered Rate (“LIBOR”)) if certain criteria are\nmet. During the fourth quarter of 2022, the Company elected to apply optional expedients for contract modifications to all eligible debt instruments and hedging\nrelationships affected by the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”). Accordingly, the Company did not have to assess whether\nthe contract modification should be accounted for as a debt extinguishment. Additionally, the Company was not required to dedesignate hedging relationships when\nthe contractual terms changed. The adoption of these standards had no impact on our consolidated financial statements.\nNote 3. Segment and Geographic Data\nThe Company operates under one reportable segment. Operating segments are defined as components of an enterprise for which separate financial information is\navailable that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an individual segment and\nin assessing performance of the segment. The Company has concluded that its Chief Executive Officer (“CEO”) is the CODM as the CEO is the ultimate decision\nmaker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations,\nand assessments are performed by the CODM using consolidated financial information, as the Company’s current product offering primarily consists of the\nOmnipod platform and drug delivery device based on the Omnipod platform.\nGeographic information about revenue, based on customer location, is as follows:\nYears Ended December 31,\n(in millions) 2023 2022 2021\nU.S. Total revenue $ 1,287.0 $ 942.3 $ 738.9\nInternational 410.1 363.0 359.9\n$ 1,697.1 $ 1,305.3 $ 1,098.8\nGeographic information about long-lived assets, net, excluding goodwill and other intangible assets is as follows:\nAs of December 31,\n(in millions) 2023 2022\nU.S. $ 461.3 $ 453.2\nChina 82.0 87.6\nMalaysia 113.7 51.6\nOther 7.9 7.5\nTotal long-lived assets, net $ 664.9 $ 599.9\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_revenue_growth",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "1697.1m, prior year: 1305.3m",
      "golden_context": "Page 56:\n\ntion resulting from the derecognition of the embedded conversion feature and debt issuance costs bifurcated to equity, a $60.6 million decrease to the opening\nbalance of accumulated deficit representing the cumulative interest expense recognized related to the amortization of the bifurcated conversion option and debt\nissuance costs, and a $147.1 million increase in long-term debt resulting from the derecognition of the discount associated with the embedded conversion feature,\noffset by the remaining debt issuance costs reclassified out of equity. In addition, the Company wrote-off the related deferred tax liabilities with a corresponding\nadjustment to the valuation allowance, resulting in no net impact to the cumulative adjustment recorded to accumulated deficit. Adoption of this standard had no\nimpact on the Company’s diluted earnings per share as the Company historically calculated earnings per share using the if-converted method.\nReference Rate Reform—ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Reporting and ASU 2021-01,\nReference Rate Reform (Topic 848) – Scope allow companies to elect optional expedients and exceptions for applying U.S. GAAP to contracts, hedging\nrelationships, and other transactions affected by reference rate reform (e.g., discontinuation of the London Interbank Offered Rate (“LIBOR”)) if certain criteria are\nmet. During the fourth quarter of 2022, the Company elected to apply optional expedients for contract modifications to all eligible debt instruments and hedging\nrelationships affected by the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”). Accordingly, the Company did not have to assess whether\nthe contract modification should be accounted for as a debt extinguishment. Additionally, the Company was not required to dedesignate hedging relationships when\nthe contractual terms changed. The adoption of these standards had no impact on our consolidated financial statements.\nNote 3. Segment and Geographic Data\nThe Company operates under one reportable segment. Operating segments are defined as components of an enterprise for which separate financial information is\navailable that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an individual segment and\nin assessing performance of the segment. The Company has concluded that its Chief Executive Officer (“CEO”) is the CODM as the CEO is the ultimate decision\nmaker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations,\nand assessments are performed by the CODM using consolidated financial information, as the Company’s current product offering primarily consists of the\nOmnipod platform and drug delivery device based on the Omnipod platform.\nGeographic information about revenue, based on customer location, is as follows:\nYears Ended December 31,\n(in millions) 2023 2022 2021\nU.S. Total revenue $ 1,287.0 $ 942.3 $ 738.9\nInternational 410.1 363.0 359.9\n$ 1,697.1 $ 1,305.3 $ 1,098.8\nGeographic information about long-lived assets, net, excluding goodwill and other intangible assets is as follows:\nAs of December 31,\n(in millions) 2023 2022\nU.S. $ 461.3 $ 453.2\nChina 82.0 87.6\nMalaysia 113.7 51.6\nOther 7.9 7.5\nTotal long-lived assets, net $ 664.9 $ 599.9\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000382_segments",
      "report_id": "ID_000382",
      "company_name": "Insulet",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "one reportable segment",
      "golden_context": "Page 56:\n\ntion resulting from the derecognition of the embedded conversion feature and debt issuance costs bifurcated to equity, a $60.6 million decrease to the opening\nbalance of accumulated deficit representing the cumulative interest expense recognized related to the amortization of the bifurcated conversion option and debt\nissuance costs, and a $147.1 million increase in long-term debt resulting from the derecognition of the discount associated with the embedded conversion feature,\noffset by the remaining debt issuance costs reclassified out of equity. In addition, the Company wrote-off the related deferred tax liabilities with a corresponding\nadjustment to the valuation allowance, resulting in no net impact to the cumulative adjustment recorded to accumulated deficit. Adoption of this standard had no\nimpact on the Company’s diluted earnings per share as the Company historically calculated earnings per share using the if-converted method.\nReference Rate Reform—ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Reporting and ASU 2021-01,\nReference Rate Reform (Topic 848) – Scope allow companies to elect optional expedients and exceptions for applying U.S. GAAP to contracts, hedging\nrelationships, and other transactions affected by reference rate reform (e.g., discontinuation of the London Interbank Offered Rate (“LIBOR”)) if certain criteria are\nmet. During the fourth quarter of 2022, the Company elected to apply optional expedients for contract modifications to all eligible debt instruments and hedging\nrelationships affected by the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”). Accordingly, the Company did not have to assess whether\nthe contract modification should be accounted for as a debt extinguishment. Additionally, the Company was not required to dedesignate hedging relationships when\nthe contractual terms changed. The adoption of these standards had no impact on our consolidated financial statements.\nNote 3. Segment and Geographic Data\nThe Company operates under one reportable segment. Operating segments are defined as components of an enterprise for which separate financial information is\navailable that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an individual segment and\nin assessing performance of the segment. The Company has concluded that its Chief Executive Officer (“CEO”) is the CODM as the CEO is the ultimate decision\nmaker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations,\nand assessments are performed by the CODM using consolidated financial information, as the Company’s current product offering primarily consists of the\nOmnipod platform and drug delivery device based on the Omnipod platform.\nGeographic information about revenue, based on customer location, is as follows:\nYears Ended December 31,\n(in millions) 2023 2022 2021\nU.S. Total revenue $ 1,287.0 $ 942.3 $ 738.9\nInternational 410.1 363.0 359.9\n$ 1,697.1 $ 1,305.3 $ 1,098.8\nGeographic information about long-lived assets, net, excluding goodwill and other intangible assets is as follows:\nAs of December 31,\n(in millions) 2023 2022\nU.S. $ 461.3 $ 453.2\nChina 82.0 87.6\nMalaysia 113.7 51.6\nOther 7.9 7.5\nTotal long-lived assets, net $ 664.9 $ 599.9\n56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_cash_flow",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "738.6m operating cash flow",
      "golden_context": "Page 71:\n\nHighlights: 2021 vs. 2020\n• Gross margin increased to 67% of net sales compared with 63% in fiscal 2020\n• Operating income increased by 62% to $505.8 million from $311.8 million\n• Interest expense decreased to $23.1 million from $36.8 million due to lower average debt balances and lower interest rates\n• Diluted earnings per share increased by 1,131% to $59.16 from $4.81\n• Operating cash flow increased by 52% to $738.6 million from $486.6 million.\nSelected Statistical Information – Percentage of Net Sales\n2021 vs. 2020\n% Change in\nYears Ended October 31, 2021 2020\nAbsolute Values\nNet sales 100 % 100 % 20 %\nCost of sales 33 % 37 % 8 %\nGross profit 67 % 63 % 27 %\nSelling, general and administrative expense 41 % 41 % 22 %\nResearch and development expense 3 % 4 % (1)%\nAmortization of intangibles 5 % 6 % 6 %\nOperating income 17 % 13 % 62 %\nCooperVision Net Sales\nThe contact lens market has t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_company_type",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________\nFORM 10-K\n________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED OCTOBER 31, 2021\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE TRANSITION PERIOD FROM TO\nCOMMISSION FILE NO. 001-08597\n________________________\nTHE COOPER COMPANIES, INC.\n(Exact name of registrant as specified in its charter)\n________________________\nDelaware 94-2657368\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6101 Bollinger Canyon Road,\nSuite 500\nSan Ramon, California, 94583\n(Address of principal executive offices) (Zip Code)\n(925) 460-3600\n(Registrant’s telephone number, including area code)\n________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $.10 par value Trading Symbol COO Name of each exchange on which registered\nThe New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒\nNo ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth\ncompany. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_key_financials",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "operating income 505.8m, diluted EPS 59.16, operating cash flow 738.6m",
      "golden_context": "Page 71:\n\nHighlights: 2021 vs. 2020\n• Gross margin increased to 67% of net sales compared with 63% in fiscal 2020\n• Operating income increased by 62% to $505.8 million from $311.8 million\n• Interest expense decreased to $23.1 million from $36.8 million due to lower average debt balances and lower interest rates\n• Diluted earnings per share increased by 1,131% to $59.16 from $4.81\n• Operating cash flow increased by 52% to $738.6 million from $486.6 million.\nSelected Statistical Information – Percentage of Net Sales\n2021 vs. 2020\n% Change in\nYears Ended October 31, 2021 2020\nAbsolute Values\nNet sales 100 % 100 % 20 %\nCost of sales 33 % 37 % 8 %\nGross profit 67 % 63 % 27 %\nSelling, general and administrative expense 41 % 41 % 22 %\nResearch and development expense 3 % 4 % (1)%\nAmortization of intangibles 5 % 6 % 6 %\nOperating income 17 % 13 % 62 %\nCooperVision Net Sales\nThe contact lens market has t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_revenue",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 2922.5m",
      "golden_context": "Page 92:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2021 2020 2019\nNet sales $ 2,922.5 $ 2,430.9 $ 2,653.4\nCost of sales 966.7 896.1 896.6\nGross profit 1,955.8 1,534.8 1,756.8\nSelling, general and administrative expense 1,211.2 992.5 996.2\nResearch and development expense 92.7 93.3 86.7\nAmortization of intangibles 146.1 137.2 145.8\nImpairment of intangibles — — 0.4\nGain on sale of an intangible — — (19.0)\nOperating income 505.8 311.8 546.7\nInterest expense 23.1 36.8 68.0\nOther (income) expense, net (8.8) 8.5 1.3\nIncome before income taxes 491.5 266.5 477.4\nProvision for income taxes (Note 6) (2,453.2) 28.1 10.7\nNet income 2,944.7 238.4 466.7\nNet income attributable to Cooper stockholders $ 2,944.7 $ 238.4 $ 466.7\nEarnings per share (Note 7)\nBasic Diluted $ 59.80 $ 4.85 $ 9.44\n$ 59.16 $ 4.81 $ 9.33\nNumber of shares used to compute earnings per share:\nBasic 49.2 49.1 49.4\nDiluted 49.8 49.6 50.0\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_revenue_growth",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 2922.5m, prior year 2430.9m",
      "golden_context": "Page 92:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2021 2020 2019\nNet sales $ 2,922.5 $ 2,430.9 $ 2,653.4\nCost of sales 966.7 896.1 896.6\nGross profit 1,955.8 1,534.8 1,756.8\nSelling, general and administrative expense 1,211.2 992.5 996.2\nResearch and development expense 92.7 93.3 86.7\nAmortization of intangibles 146.1 137.2 145.8\nImpairment of intangibles — — 0.4\nGain on sale of an intangible — — (19.0)\nOperating income 505.8 311.8 546.7\nInterest expense 23.1 36.8 68.0\nOther (income) expense, net (8.8) 8.5 1.3\nIncome before income taxes 491.5 266.5 477.4\nProvision for income taxes (Note 6) (2,453.2) 28.1 10.7\nNet income 2,944.7 238.4 466.7\nNet income attributable to Cooper stockholders $ 2,944.7 $ 238.4 $ 466.7\nEarnings per share (Note 7)\nBasic Diluted $ 59.80 $ 4.85 $ 9.44\n$ 59.16 $ 4.81 $ 9.33\nNumber of shares used to compute earnings per share:\nBasic 49.2 49.1 49.4\nDiluted 49.8 49.6 50.0\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000383_segments",
      "report_id": "ID_000383",
      "company_name": "Cooper",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CooperVision and CooperSurgical",
      "golden_context": "Page 132:\n\naluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under ASC 450,\nContingencies. Legal fees are expensed as incurred.\nNote 13. Business Segment Information\nThe Company discloses information about its operating segments, which were established based on the way that management organizes\nsegments within the Company for making operating decisions and assessing financial performance. The Company's two operating segments\nare described below.\n• CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of\nproducts for contact lens wearers, featuring advanced materials and optics. CooperVision designs its products to solve vision\nchallenges such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues, with a broad collection of spherical, toric and\nmultifocal contact lenses.\n• CooperSurgical. Competes in the general health care market with a focus on advancing the health of women, babies and families\nthrough a diversified portfolio of products and services focusing on women's health and fertility.\nCooper uses operating income, as presented in our financial reports, as the primary measure of segment profitability. We do not allocate costs\nfrom corporate functions to segment operating income. Items below operating income are not considered when measuring the profitability of\na segment. We use the same accounting policies to generate segment results as we do for our consolidated results.\nTotal net sales include sales to customers as reported in our Consolidated Statements of Income and sales between geographic areas that are\npriced at terms that allow for a reasonable profit for the seller. Operating income (loss) is total net sales less cost of sales, selling, general and\nadministrative expenses, research and development expenses, amortization and intangible impairments. Corporate operating loss is\nprincipally corporate headquarters expense. Interest expense, and other income and expenses are not allocated to individual segments.\nNo customer accounted for 10% or more of our consolidated net revenue in the fiscal 2021, 2020 and 2019.\nIdentifiable assets are those used in continuing operations except cash and cash equivalents, which we include as corporate assets. Long-lived\nassets are net property, plant and equipment.\nThe following table presents a summary of our business segment net sales:\n(In millions) 2021 2020 2019\nCooperVision net sales by category:\nToric lens $ 697.5 $ 598.2 $ 620.0\nMultifocal lens 238.6 197.0 202.9\nSingle-use sphere lens 616.3 529.0 568.2\nNon single-use sphere, other 599.6 518.8 581.8\nTotal CooperVision net sales",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_cash_flow",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 692.4m, investing: -1831.2m, financing: 1193.7m",
      "golden_context": "Page 62:\n\nCAPITAL RESOURCES AND LIQUIDITY\nWorking capital at October 31, 2022 and October 31, 2021, was $253.4 million and $733.2 million, respectively. The decrease in working capital is primarily due to\nan increase in accounts payable as a result of timing of payment to vendors, and an increase in short-term debt due to the 364-day term loan agreement entered into\nduring fiscal 2022. See Note 5. Financing Arrangements for further information.\nThe $43.1 million increase in inventories was primarily due to higher sales, and the buildup of inventory for future product launches.\nCash Flow\n($ in millions) 2022 2021 2020\nOperating activities $ 692.4 $ 738.6 $ 486.6\nInvesting activities (1,831.2) (450.3) (364.5)\nFinancing activities 1,193.7 (311.4) (95.5)\nEffect of exchange rate changes on cash, cash equivalents, restricted\ncash and restricted cash equivalents (12.9) 2.9 0.7\nIncrease (decrease) in cash, cash equivalents, restricted cash and\n$ 42.0 $ (20.2) $ 27.3\nrestricted cash equivalents\nOperating cash flow\nCash provided by operating activities in fiscal 2022 was lower than cash provided by operating activities in fiscal 2021, primarily due to settlement of contingent\nconsideration of $52.3 million.\nInvesting Cash Flow\nCash used in investing activities in fiscal 2022 was higher than cash used in investing activities in fiscal 2021, primarily attributable to $1.6 billion cash paid, net of\ncash acquired, for the Generate acquisition, partially offset by $52.1 million proceeds from the sale of a 50% interest in SGV . See Note 3. Acquisitions and Joint\nVenture for further information.\nFinancing Cash Flow\nCash was provided by financing activities in fiscal 2022 compared to used in financing activities in fiscal 2021, primarily due to a decrease in repayments of long-\nterm debt obligations by $854.5 million, and net proceeds from short-term debt of $329.3 million in fiscal 2022, compared to net repayments of short-term debt\nobligations of $321.3 million in fiscal 2021.\nThe following is a summary of the maximum commitments and the net amounts available to us under different credit facilities as of October 31, 2022:\nOutstanding\nBorrowings\nOutstanding\nLetters of Credit\nTotal Amount\nAvailable Maturity Date\n(In millions) Facility Limit\nRevolving Credit:\n2020 Revolving Credit $ 1,290.0 $ —",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_company_type",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________\nFORM 10-K\n________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED OCTOBER 31, 2022\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE TRANSITION PERIOD FROM TO\nCOMMISSION FILE NO. 001-08597\n________________________\nTHE COOPER COMPANIES, INC.\n(Exact name of registrant as specified in its charter)\n________________________\nDelaware 94-2657368\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6101 Bollinger Canyon Road,\nSuite 500\nSan Ramon, California, 94583\n(Address of principal executive offices) (Zip Code)\n(925) 460-3600\n(Registrant’s telephone number, including area code)\n________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $.10 par value Trading Symbol COO Name of each exchange on which registered\nThe New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒\nNo ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth\ncompany. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised\nfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_key_financials",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net sales 3308.4m, gross profit 2139.6m, operating income 507.6m, net income 385.8m, EPS basic 7.83",
      "golden_context": "Page 68:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2022 2021 2020\nNet sales $ 3,308.4 $ 2,922.5 $ 2,430.9\nCost of sales 1,168.8 966.7 896.1\nGross profit 2,139.6 1,955.8 1,534.8\nSelling, general and administrative expense 1,342.2 1,211.2 992.5\nResearch and development expense 110.3 92.7 93.3\nAmortization of intangibles 179.5 146.1 137.2\nOperating income 507.6 505.8 311.8\nInterest expense 57.3 23.1 36.8\nOther (income) expense, net (25.0) (8.8) 8.5\nIncome before income taxes 475.3 491.5 266.5\nProvision for income taxes (Note 6) 89.5 (2,453.2) 28.1\nNet income $ 385.8 $ 2,944.7 $ 238.4\nEarnings per share (Note 7)\nBasic $ 7.83 $ 59.80 $ 4.85\nDiluted $ 7.76 $ 59.16 $ 4.81\nNumber of shares used to compute earnings per share:\nBasic 49.3 49.2 49.1\nDiluted 49.7 49.8 49.6\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_revenue",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 3308.4m",
      "golden_context": "Page 68:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2022 2021 2020\nNet sales $ 3,308.4 $ 2,922.5 $ 2,430.9\nCost of sales 1,168.8 966.7 896.1\nGross profit 2,139.6 1,955.8 1,534.8\nSelling, general and administrative expense 1,342.2 1,211.2 992.5\nResearch and development expense 110.3 92.7 93.3\nAmortization of intangibles 179.5 146.1 137.2\nOperating income 507.6 505.8 311.8\nInterest expense 57.3 23.1 36.8\nOther (income) expense, net (25.0) (8.8) 8.5\nIncome before income taxes 475.3 491.5 266.5\nProvision for income taxes (Note 6) 89.5 (2,453.2) 28.1\nNet income $ 385.8 $ 2,944.7 $ 238.4\nEarnings per share (Note 7)\nBasic $ 7.83 $ 59.80 $ 4.85\nDiluted $ 7.76 $ 59.16 $ 4.81\nNumber of shares used to compute earnings per share:\nBasic 49.3 49.2 49.1\nDiluted 49.7 49.8 49.6\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_revenue_growth",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 3308.4m, prior year 2922.5m",
      "golden_context": "Page 68:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2022 2021 2020\nNet sales $ 3,308.4 $ 2,922.5 $ 2,430.9\nCost of sales 1,168.8 966.7 896.1\nGross profit 2,139.6 1,955.8 1,534.8\nSelling, general and administrative expense 1,342.2 1,211.2 992.5\nResearch and development expense 110.3 92.7 93.3\nAmortization of intangibles 179.5 146.1 137.2\nOperating income 507.6 505.8 311.8\nInterest expense 57.3 23.1 36.8\nOther (income) expense, net (25.0) (8.8) 8.5\nIncome before income taxes 475.3 491.5 266.5\nProvision for income taxes (Note 6) 89.5 (2,453.2) 28.1\nNet income $ 385.8 $ 2,944.7 $ 238.4\nEarnings per share (Note 7)\nBasic $ 7.83 $ 59.80 $ 4.85\nDiluted $ 7.76 $ 59.16 $ 4.81\nNumber of shares used to compute earnings per share:\nBasic 49.3 49.2 49.1\nDiluted 49.7 49.8 49.6\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000384_segments",
      "report_id": "ID_000384",
      "company_name": "Cooper",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CooperVision and CooperSurgical",
      "golden_context": "Page 98:\n\note 11. Contingencies\nThe Company is involved in various lawsuits, claims and other legal matters from time to time that arise in the ordinary course of conducting business, including\nmatters involving our products, intellectual property, supplier relationships, distributors, competitor relationships, employees and other matters. The Company does\nnot believe that the ultimate resolution of these proceedings or claims pending against it could have a material adverse effect on its financial condition or results of\noperations. At each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably\nestimable under ASC 450, Contingencies. Legal fees are expensed as incurred.\nNote 12. Business Segment Information\nThe Company discloses information about its operating segments, which were established based on the way that management organizes segments within the\nCompany for making operating decisions and assessing financial performance. The Company's two operating segments are described below.\n• CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of products for contact lens\nwearers, featuring advanced materials and optics.\n• CooperSurgical. Competes in the general health care market with a focus on advancing the health of women, babies and families through a diversified\nportfolio of products and services focusing on women's health and fertility.\nThe Company uses operating income, as presented in our financial reports, as the primary measure of segment profitability. The Company does not allocate costs\nfrom corporate functions to segment operating income. The Company uses the same accounting policies to generate segment results as it does for consolidated\nresults.\nNo customers accounted for 10% or more of our consolidated net revenue in fiscal 2022, 2021 and 2020.\nTotal identifiable assets are those used in continuing operations except cash and cash equivalents, which the Company includes as corporate assets.\n98",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_cash_flow",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating 607.5m, investing: -449m, financing: -173.9m",
      "golden_context": "Page 50:\n\nCAPITAL RESOURCES AND LIQUIDITY\nWorking capital at October 31, 2023 and October 31, 2022, was $735.9 million and $253.4 million, respectively. The increase in working capital was primarily due to\nrepayment of the 364-day term loan during fiscal 2023 and an increase in inventories. See Note 5. Financing Arrangements for further information.\nCash Flow\n($ in millions) 2023 2022 2021\nOperating activities $ 607.5 $ 692.4 $ 738.6\nInvesting activities (449.0) (1,831.2) (450.3)\nFinancing activities (173.9) 1,193.7 (311.4)\nEffect of exchange rate changes on cash, cash equivalents, restricted\ncash and restricted cash equivalents (2.3) (12.9) 2.9\n(Decrease) increase in cash, cash equivalents, restricted cash and\n$ (17.7) $ 42.0 $ (20.2)\nrestricted cash equivalents\nOperating Cash Flow\nCash provided by operating activities in fiscal 2023 decreased compared to fiscal 2022, primarily due to the payment of a $45 million termination fee under an asset\npurchase agreement and net changes in operating capital, partially offset by net changes in other non-cash items.\nThe $45.0 million termination fee under an asset purchase agreement related to Cook Medical’s reproductive health business was accrued for during the second quarter\nof fiscal 2023 and paid on August 9, 2023. See Note 3. Acquisitions and Joint Venture for further information on the termination fee.\nInvesting Cash Flow\nCash used in investing activities in fiscal 2023 was lower than cash used in investing activities in fiscal 2022, primarily attributable to $1.6 billion cash paid, net of cash\nacquired, for the Generate acquisition in fiscal 2022. The decrease in cash used for acquisitions was partially offset by an increase in purchases of property, plant and\nequipment.\nFinancing Cash Flow\nCash used in financing activities in fiscal 2023 was primarily due to repayments of $338.0 million on the 2021 364-day term loan, partially offset by $172.6 million of\nfunds drawn on the 2020 Revolving Credit.\nCash provided by financing activities in fiscal 2022 was primarily d",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_company_type",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\n________________________\nFORM 10-K\n________________________\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE FISCAL YEAR ENDED OCTOBER 31, 2023\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFOR THE TRANSITION PERIOD FROM TO\nCOMMISSION FILE NO. 001-08597\n________________________\nTHE COOPER COMPANIES, INC.\n(Exact name of registrant as specified in its charter)\n________________________\nDelaware 94-2657368\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6101 Bollinger Canyon Road,\nSuite 500\nSan Ramon, California, 94583\n(Address of principal executive offices) (Zip Code)\n(925) 460-3600\n(Registrant’s telephone number, including area code)\n________________________\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $.10 par value Trading Symbol COO Name of each exchange on which registered\nNasdaq Global Select Market\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\n________________________\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405\nof this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company.\nSee definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_key_financials",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "NEt sales 3593.2m, gross profit 2357.9m, operating income 533.1m, net income 294.2m, EPS basic 5.94",
      "golden_context": "Page 57:\n\nHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2023 2022 2021\nNet sales $ 3,593.2 $ 3,308.4 $ 2,922.5\nCost of sales 1,235.3 1,168.8 966.7\nGross profit 2,357.9 2,139.6 1,955.8\nSelling, general and administrative expense 1,501.2 1,342.2 1,211.2\nResearch and development expense 137.4 110.3 92.7\nAmortization of intangibles 186.2 179.5 146.1\nOperating income 533.1 507.6 505.8\nInterest expense 105.3 57.3 23.1\nOther expense (income) 14.9 (25.0) (8.8)\nIncome before income taxes 412.9 475.3 491.5\nProvision for income taxes (Note 6) 118.7 89.5 (2,453.2)\nNet income $ 294.2 $ 385.8 $ 2,944.7\nEarnings per share (Note 7)\nBasic $ 5.94 $ 7.83 $ 59.80\nDiluted $ 5.91 $ 7.76 $ 59.16\nNumber of shares used to compute earnings per share:\nBasic 49.5 49.3 49.2\nDiluted 49.8 49.7 49.8\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_revenue",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "3593.2m",
      "golden_context": "Page 57:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2023 2022 2021\nNet sales $ 3,593.2 $ 3,308.4 $ 2,922.5\nCost of sales 1,235.3 1,168.8 966.7\nGross profit 2,357.9 2,139.6 1,955.8\nSelling, general and administrative expense 1,501.2 1,342.2 1,211.2\nResearch and development expense 137.4 110.3 92.7\nAmortization of intangibles 186.2 179.5 146.1\nOperating income 533.1 507.6 505.8\nInterest expense 105.3 57.3 23.1\nOther expense (income) 14.9 (25.0) (8.8)\nIncome before income taxes 412.9 475.3 491.5\nProvision for income taxes (Note 6) 118.7 89.5 (2,453.2)\nNet income $ 294.2 $ 385.8 $ 2,944.7\nEarnings per share (Note 7)\nBasic $ 5.94 $ 7.83 $ 59.80\nDiluted $ 5.91 $ 7.76 $ 59.16\nNumber of shares used to compute earnings per share:\nBasic 49.5 49.3 49.2\nDiluted 49.8 49.7 49.8\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_revenue_growth",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "3593.2m, prior year 3308.4m",
      "golden_context": "Page 57:\n\nTHE COOPER COMPANIES, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears Ended October 31,\n(In millions, except for earnings per share) 2023 2022 2021\nNet sales $ 3,593.2 $ 3,308.4 $ 2,922.5\nCost of sales 1,235.3 1,168.8 966.7\nGross profit 2,357.9 2,139.6 1,955.8\nSelling, general and administrative expense 1,501.2 1,342.2 1,211.2\nResearch and development expense 137.4 110.3 92.7\nAmortization of intangibles 186.2 179.5 146.1\nOperating income 533.1 507.6 505.8\nInterest expense 105.3 57.3 23.1\nOther expense (income) 14.9 (25.0) (8.8)\nIncome before income taxes 412.9 475.3 491.5\nProvision for income taxes (Note 6) 118.7 89.5 (2,453.2)\nNet income $ 294.2 $ 385.8 $ 2,944.7\nEarnings per share (Note 7)\nBasic $ 5.94 $ 7.83 $ 59.80\nDiluted $ 5.91 $ 7.76 $ 59.16\nNumber of shares used to compute earnings per share:\nBasic 49.5 49.3 49.2\nDiluted 49.8 49.7 49.8\nThe accompanying notes are an integral part of these Consolidated Financial Statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000385_segments",
      "report_id": "ID_000385",
      "company_name": "Cooper",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "CooperVision and CooperSurgical",
      "golden_context": "Page 7:\n\nOVERVIEW\nThe Cooper Companies, Inc. (Cooper, we or the Company), is a global medical device company with a mission to improve lives one person at a time. We partner with\nhealth care providers worldwide to improve patient outcomes and deliver practice-building resources and training. By listening closely to the healthcare providers and\npatients, we fulfill the needs of today while focusing on the opportunities of tomorrow through innovation and strategic investment.\nCooper operates through two business segments, CooperVision and CooperSurgical. Our two business segments elevate standards of care with products and services in\nthe fields of vision, fertility and women’s health. For financial information relating to these business segments, refer to Note 12. Business Segment Information in\nItem 8. Financial Statements and Supplementary Data of this Annual Report.\nCooperVision is a global manufacturer providing products for contact lens wearers. CooperVision develops, manufactures and markets a broad range of single-use, two-\nweek and monthly contact lenses, featuring advanced materials and optics. CooperVision designs its products to address vision challenges such as astigmatism,\npresbyopia and myopia with a broad collection of spherical, toric and multifocal contact lenses. CooperVision offers contact lenses in materials like silicone hydrogel\nAquaform technology. CooperVision also manufactures and markets myopia management products, including the internally developed MiSight 1 day lens, as well as\nother specialty eyecare products such as orthokeratology (ortho-k) and scleral lenses. In November 2019, the MiSight 1 day lens became the first and only product\napproved by the United States Food and Drug Administration (FDA) for slowing the progression of myopia in children aged 8-12 at the initiation of treatment, and in\nAugust 2021, CooperVision received Chinese National Medical Products Administration (NMPA) approval for use of the MiSight 1 day lens in China. CooperVision’s\nmajor manufacturing and distribution facilities are located in Belgium, Costa Rica, Hungary, Puerto Rico, the United Kingdom and the United States, with other smaller\nfacilities in multiple locations around the world.\nCooperSurgical offers a broad array of products and services focused on fertility and women's health. We categorize CooperSurgical product sales based on the point of\nhealth care delivery, which includes: products used in medical offices, ambulatory surgical centers and hospitals primarily by Obstetricians/Gynecologists (OB/GYN);\nand fertility products and services used primarily in fertility clinics. Our portfolio encompasses more than 600 products and services. Our medical devices are used in\ngynecology and obstetrics, including but not limited to contraception and labor and delivery as well as cord blood and cord storage services. Our fertility portfolio\nencompasses medical devices supporting the in vitro fertilization (IVF) cycle, egg and sperm donation, cryopreservation, and genomic services (including genetic\ntesting). CooperSurgical has established its market presence and distribution system by developing products and acquiring companies, products and services that\ncomplement its business model. CooperSurgical's major manufacturing, cryostorage and distribution facilities are located in Costa Rica, the Netherlands, the United\nKingdom and the United States, with other smaller facilities in multiple locations around the world.\nSEGMENT INFORMATION\nCooperVision\nCooperVision competes in the worldwide soft contact lens market and services three primary regions: the Americas, EMEA (Europe, Middle East and Africa) and Asia\nPacific. The two major product categories of contact lenses sold by CooperVision are:\n• Spherical lenses, including lenses that correct near- and farsightedness uncomplicated by more complex visual defects, myopia management lenses, which slow the\nprogression of and correct myopia in age-appropriate children, and other specialty lenses.\n• Toric and multifocal lenses, including lenses that, in addition to correcting near- and farsightedness, address more complex visual defects such as astigmatism,\nmyopia and presbyopia by adding optical properties of cylinder and axis, which correct for irregularities in the shape of the cornea.\nIn order to achieve a comfortable and healthier lens wearing experience, products are sold with recommended wearing and replacement schedules, often referred to as\nmodalities, with the primary modalities being single-use lenses designed for one-day use and frequent replacement (FRP) lenses designed for two-week and monthly\nreplacement. CooperVision offers spherical, toric, multifocal and toric multifocal lens products in most modalities and in a wide range of lens parameters.\n7",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_cash_flow",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: -944m, investing: -721m, financing: 6154m",
      "golden_context": "Page 81:\n\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n2022 2021 2020\n(In millions)\nCash fl f f ows fr f f om operating activities fr\nf f om continuing operations:\nNet loss fr f f om continuing operations .................................................................................... $ (1,541) $ (1,469) $ (1,900)\nAdjustments to reconcile net loss to net cash used in operating activities:\nDepreciation and amortization ...............................................................................\n1,036 1,041 997\nAmortization of leasehold interests in land ............................................................\n55 56 55\nAmortization of defe\nf f rred fi\nf f nancing costs and original issue discount ...................\n57 52 43\nChange in fa f f ir value of derivative asset/ t t liabi\na lity....................................................\n1 (1) —\nPaid-in-kind interest income................................................................................... (15) — —\nLoss on modifi f f cation or early retirement of debt ...................................................\n— 137 —\nLoss on disposal or impairment of assets ...............................................................\n7 16 39\nStock-based compensation expense .......................................................................\n39 22 22\nProvision for f f credit losses ......................................................................................\n15 3 86\nForeign exchange (gain) loss.................................................................................. (10) 34 (20)\nDefe f f rred income taxes............................................................................................ (2) (45) 24\nIncome tax impact related to gain on sale of Las Vegas Operations...................... (750) — —\nChanges in operating assets and liabi a lities:\nAccounts receivabl a e....................................................................................... (78) 43 339\nOther assets....................................................................................................\n2 (5) 14\nAccounts payabl\na e...........................................................................................\n11 (11) (42)\nOther liabi a lities ..............................................................................................\n229 (116) (848)\nNet cash used in operating activities fr f f om continuing operations ................................. Cash fl f f ows fr f f om investing activities fr\nf f om continuing operations:\nCapi a tal expenditur t es............................................................................................................. (651) (828) (1,227)\nProceeds fr f f om disposal of property and equipment.............................................................\n9 7 1\nAcquisition of intangible assets and other ........................................................................... (129) (11) —\nProceeds fr f f om loan receivabl\na e .............................................................................................\n50 — —\nNet cash used in investing activities fr\nf f om continuing operations ................................ (721) (832) (1,226)\nCash fl f f ows fr f f om fi f f nancing activities fr\nf f om continuing operations:\nProceeds fr f f om exercise of stock options..............................................................................\n— 19 24\nTax withholding on vesting of equity awards...................................................................... (1) — —\nDividends paid and noncontrolling interest payments.........................................................\n— — (911)\nProceeds fr f f om long-term debt..............................................................................................\n1,200 2,702 1,945\nRepayments of long-term debt............................................................................................. (66) (1,867) (467)\nPayments of fi f f nancing costs................................................................................................. (11) (38) (31)\nMake-whole premium on early extinguishment of debt ......................................................\n— (131) —\nTransactions with discontinued operations .......................................................................... 5,032 178 (205)\nNet cash generated fr\nf f om fi\nf f nancing activities fr f f om continuing operations .................... Cash fl f f ows fr f f om discontinued operations:\nNet cash generated fr\nf f om (used in) operating activities........................................................\n149 258 (121)\nNet cash generated fr\nf f om (used in) investing activities ........................................................ 4,883 (63) (103)\nNet cash provided (to) by continuing operations and (used in) fi\nf f nancing activities............ (5,032) (179) 205\nNet cash generated fr\nf f om (used in) discontinued operations.........................................\n— 16 (19)\nEff f f e f f ct of exchange rate on cash, cash equivalents and restricted cash and cash\nequivalents....................................................................................................................... 22 (16) (24)\nIncrease (decrease) in cash, cash equivalents and restricted cash and cash equivalents...... Cash, cash equivalents and restricted cash and cash equivalents at beginning of year .......\nCash, cash equivalents and restricted cash and cash equivalents at end of year.................. Less: cash and cash equivalents at end of period for f f discontinued operations ....................\nf f\nCash, cash equivalents and restricted cash and cash equivalents at end of period for\ncontinuing operations ...................................................................................................... $ 6,436 $ 1,870 $ 2,098\n(944) (1,191)\n863 (243) 6,154 355\n4,511 (212) (2,105)\n1,925 2,137 4,242\n6,436 1,925 2,137\n— (55) (39)\n79\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)\nYear Ended December 31,\n2022 2021 2020\n(In millions)\nSupplemental disclosure of cash fl f f ow infor f f mation:\nCash payments for f f interest, net of amounts capi\na talized ................................................... $ 614 $ 591 $ 419\nCash payments for f f taxes, net of refunds f f ........................................................................... $ 649 $ 86 $ 196\nChanges in construc r r tion payabl\na es..................................................................................... $ (38) $ (109) $ 17\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_company_type",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corp.",
      "golden_context": "Page 3:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fi f f scal year ended December 31, 2022\nor\nNSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period fr f f om Commission fi f f le number 001-32373\n☐ TRA R R to\nTitle of Each Class Common Stock ($0.001 par value) LAS VEGAS SANDS CORP.\n(Exact name of registrant as specifi f f ed in its charter)\nNevada 27-0099920\n(St ( ( ate or other juris\ni i diction of\nincorpor\nr ation or organi\nr z\ni i ation)\n(I ( ( R I I S Em E E pl m oyer\nIde I I ntif\ni i\nN N\nf f cation No.)\n5500 Haven Street\nLas Vegas, Nevada 89119\n(A ( ( ddress of pr\nf f incipal\ni ex e e ecutive off\nf f i f f ces)\ns (Z ( ( i\nZ Z p\ni Cod\nC C e\nd d ) e\nRegistrant's telephone number, including area code:\n(702) 923-9000\nSecurities registered pursuant to Section 12(b) of the Act:\ng y Trading Symbol\nLVS Name of Each Exchange on Which Registered\ng g\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defi f f ned in Rul\nR R e 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to fi f f le reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has fi f f led all reports required to be fi f f led by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for f f such shorter period that the registrant was required to fi f f le such reports); and (2) has been subj b ect to such\nfi f f ling requirements for f f the past 90 days. Yes ☒ No ☐\nr r Indicate by check mark whether the registrant has submitted electronically every\nR R Rul\ne 405 of Regulation S-T (§ 232.405 of this chapt a er) during the preceding 12 months (or for f f Interactive Data File required to be submitted pursuant to\nsuch shorter period that the registrant was required to\nsubmit such fi\nf f les). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated fi\nf f ler, an accelerated fi f f ler, a non-accelerated fi f f ler, smaller reporting company, or\nan emerging growth company. See the defi f f nitions of \"large accelerated fi f f ler,\n\" \"accelerated fi\nf f ler,\n\" \"smaller reporting company,\n\" and \"emerging growth\nR R company\" in Rul\ne 12b-2 of the Exchange Act. (Check one):\nLarge Accelerated Filer ☒ Accelerated Filer ☐ Emerging Growth Company ☐\nNon-Accelerated Filer ☐ Smaller Reporting Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for f f complying with\nany new or revised fi f f nancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has fi f f led a report on and attestation to its management’s assessment of the eff f f e f f ctiveness of its\ninternal control over fi f f nancial reporting under Section 404(b) of the Sarba r nes-Oxley Act (15 U.S.C. 7262(b)) by the registered publ u ic accounting fi f f rm\nthat prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the fi f f nancial statements of the registrant included\nin the fi\nf f ling refl f f ect the correction of an error to previously issued fi f f nancial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery r r analysis of incentive-based compensation\nreceived by any of the registrant's executive off f f i f f cers during the relevant recovery r r period pursuant to § 240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defi f f ned in Rul\nR R e 12b-2 of the Act). Yes ☐ No ☒\nAs of June 30, 2022, the last business day of the registrant's most recently completed secon",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_key_financials",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "operating loss -792m, net income attributable to Las Vegas Sands Corp: 1832m",
      "golden_context": "Page 78:\n\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERA R R TIONS\nYear Ended December 31,\n2022 2021 2020\n(In millions, except per share data)\nRevenues:\nCasino................................................................................................ $ 2,627 $ 2,892 $ 2,041\nRooms ...............................................................................................\n469 415 280\nFood and beverage ............................................................................\n301 199 156\nMall ...................................................................................................\n580 649 381\nConvention, retail and other ..............................................................\n133 79 82\nNet revenues.............................................................................................. 4,110 4,234 2,940\nOperating expenses:\nCasino................................................................................................\n1,792 2,068 1,585\nRooms ...............................................................................................\n173 164 136\nFood and beverage ............................................................................\n319 244 236\nMall ...................................................................................................\n73 65 59\nConvention, retail and other ..............................................................\n103 85 103\nProvision for f f credit losses .................................................................\n15 3 86\nGeneral and administrative................................................................\n936 831 798\nCorpor r r ate...........................................................................................\n235 211 168\nPre-opening .......................................................................................\n13 19 19\nDevelopment .....................................................................................\n143 109 18\nDepreciation and amortization ..........................................................\n1,036 1,041 997\nAmortization of leasehold interests in land.......................................\n55 56 55\nLoss on disposal or impairment of assets..........................................\n9 27 73\n4,902 4,923 4,333\nOperating loss............................................................................................ (792) (689) (1,393)\nOther income (expense):\nInterest income ..................................................................................\n116 4 21\nInterest expense, net of amounts capi a talized..................................... (702) (621) (523)\nOther income (expense) .................................................................... (9) (31) 19\nLoss on modifi f f cation or early retirement of debt..............................\n— (137) —\nLoss fr f f om continuing operations befor f f e income taxes.............................. (1,387) (1,474) (1,876)\nIncome tax (expense) benefi f f t .................................................................... (154) 5 (24)\nNet loss fr f f om continuing operations ......................................................... (1,541) (1,469) (1,900)\nDiscontinued operations:...........................................................................\nIncome (loss) fr f f om operations of discontinued operations, net of\ntax .................................................................................................... 46 193 (243)\nGain on disposal of discontinued operations, net of tax ...................\n2,861 — —\nAdjustment to gain on disposal of discontinued operations, net of\ntax .................................................................................................... (9) — —\nIncome (loss) fr f f om discontinued operations, net of tax ............................\nNet income (loss) ......................................................................................\n1,357 (1,276) (2,143)\nNet loss attributabl\na e to noncontrolling interests fr f f om continuing\noperations ................................................................................................ 475 315 458\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ......................... $ 1,832 $ (961) $ (1,685)\nEarnings (loss) per share - basic and diluted:\nLoss fr f f om continuing operations....................................................... $ (1.40) $ (1.51) $ (1.89)\nIncome (loss) fr f f om discontinued operations, net of tax ....................\n3.80 0.25 (0.32)\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ................. $ Weighted average shares outstanding:\nBasic and diluted ...............................................................................\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.\n2,898 193 (243)\n2.40 $ (1.26) $ (2.21)\n764 764 764\n76\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)\nYear Ended December 31,\n2022 2021 2020\n(In millions)\nNet income (loss) ...................................................................................... $ 1,357 $ (1,276) $ (2,143)\nCurrency translation adjustment................................................................ 14 (51) 37\nCash fl f f ow hedge fa f f ir value adjustment ..................................................... (3) (4) —\nTotal comprehensive income (loss)........................................................... 1,368 (1,331) (2,106)\nComprehensive loss attributabl a e to noncontrolling interests .................... 479 319 453\nComprehensive income (loss) attributabl a e to Las Vegas Sands Corp. r r ..... $ 1,847 $ (1,012) $ (1,653)\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_revenue",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "4110m",
      "golden_context": "Page 78:\n\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERA R R TIONS\nYear Ended December 31,\n2022 2021 2020\n(In millions, except per share data)\nRevenues:\nCasino................................................................................................ $ 2,627 $ 2,892 $ 2,041\nRooms ...............................................................................................\n469 415 280\nFood and beverage ............................................................................\n301 199 156\nMall ...................................................................................................\n580 649 381\nConvention, retail and other ..............................................................\n133 79 82\nNet revenues.............................................................................................. 4,110 4,234 2,940\nOperating expenses:\nCasino................................................................................................\n1,792 2,068 1,585\nRooms ...............................................................................................\n173 164 136\nFood and beverage ............................................................................\n319 244 236\nMall ...................................................................................................\n73 65 59\nConvention, retail and other ..............................................................\n103 85 103\nProvision for f f credit losses .................................................................\n15 3 86\nGeneral and administrative................................................................\n936 831 798\nCorpor r r ate...........................................................................................\n235 211 168\nPre-opening .......................................................................................\n13 19 19\nDevelopment .....................................................................................\n143 109 18\nDepreciation and amortization ..........................................................\n1,036 1,041 997\nAmortization of leasehold interests in land.......................................\n55 56 55\nLoss on disposal or impairment of assets..........................................\n9 27 73\n4,902 4,923 4,333\nOperating loss............................................................................................ (792) (689) (1,393)\nOther income (expense):\nInterest income ..................................................................................\n116 4 21\nInterest expense, net of amounts capi a talized..................................... (702) (621) (523)\nOther income (expense) .................................................................... (9) (31) 19\nLoss on modifi f f cation or early retirement of debt..............................\n— (137) —\nLoss fr f f om continuing operations befor f f e income taxes.............................. (1,387) (1,474) (1,876)\nIncome tax (expense) benefi f f t .................................................................... (154) 5 (24)\nNet loss fr f f om continuing operations ......................................................... (1,541) (1,469) (1,900)\nDiscontinued operations:...........................................................................\nIncome (loss) fr f f om operations of discontinued operations, net of\ntax .................................................................................................... 46 193 (243)\nGain on disposal of discontinued operations, net of tax ...................\n2,861 — —\nAdjustment to gain on disposal of discontinued operations, net of\ntax .................................................................................................... (9) — —\nIncome (loss) fr f f om discontinued operations, net of tax ............................\nNet income (loss) ......................................................................................\n1,357 (1,276) (2,143)\nNet loss attributabl\na e to noncontrolling interests fr f f om continuing\noperations ................................................................................................ 475 315 458\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ......................... $ 1,832 $ (961) $ (1,685)\nEarnings (loss) per share - basic and diluted:\nLoss fr f f om continuing operations....................................................... $ (1.40) $ (1.51) $ (1.89)\nIncome (loss) fr f f om discontinued operations, net of tax ....................\n3.80 0.25 (0.32)\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ................. $ Weighted average shares outstanding:\nBasic and diluted ...............................................................................\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.\n2,898 193 (243)\n2.40 $ (1.26) $ (2.21)\n764 764 764\n76\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)\nYear Ended December 31,\n2022 2021 2020\n(In millions)\nNet income (loss) ...................................................................................... $ 1,357 $ (1,276) $ (2,143)\nCurrency translation adjustment................................................................ 14 (51) 37\nCash fl f f ow hedge fa f f ir value adjustment ..................................................... (3) (4) —\nTotal comprehensive income (loss)........................................................... 1,368 (1,331) (2,106)\nComprehensive loss attributabl a e to noncontrolling interests .................... 479 319 453\nComprehensive income (loss) attributabl a e to Las Vegas Sands Corp. r r ..... $ 1,847 $ (1,012) $ (1,653)\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_revenue_growth",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "4110m, prior year 4234m",
      "golden_context": "Page 78:\n\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERA R R TIONS\nYear Ended December 31,\n2022 2021 2020\n(In millions, except per share data)\nRevenues:\nCasino................................................................................................ $ 2,627 $ 2,892 $ 2,041\nRooms ...............................................................................................\n469 415 280\nFood and beverage ............................................................................\n301 199 156\nMall ...................................................................................................\n580 649 381\nConvention, retail and other ..............................................................\n133 79 82\nNet revenues.............................................................................................. 4,110 4,234 2,940\nOperating expenses:\nCasino................................................................................................\n1,792 2,068 1,585\nRooms ...............................................................................................\n173 164 136\nFood and beverage ............................................................................\n319 244 236\nMall ...................................................................................................\n73 65 59\nConvention, retail and other ..............................................................\n103 85 103\nProvision for f f credit losses .................................................................\n15 3 86\nGeneral and administrative................................................................\n936 831 798\nCorpor r r ate...........................................................................................\n235 211 168\nPre-opening .......................................................................................\n13 19 19\nDevelopment .....................................................................................\n143 109 18\nDepreciation and amortization ..........................................................\n1,036 1,041 997\nAmortization of leasehold interests in land.......................................\n55 56 55\nLoss on disposal or impairment of assets..........................................\n9 27 73\n4,902 4,923 4,333\nOperating loss............................................................................................ (792) (689) (1,393)\nOther income (expense):\nInterest income ..................................................................................\n116 4 21\nInterest expense, net of amounts capi a talized..................................... (702) (621) (523)\nOther income (expense) .................................................................... (9) (31) 19\nLoss on modifi f f cation or early retirement of debt..............................\n— (137) —\nLoss fr f f om continuing operations befor f f e income taxes.............................. (1,387) (1,474) (1,876)\nIncome tax (expense) benefi f f t .................................................................... (154) 5 (24)\nNet loss fr f f om continuing operations ......................................................... (1,541) (1,469) (1,900)\nDiscontinued operations:...........................................................................\nIncome (loss) fr f f om operations of discontinued operations, net of\ntax .................................................................................................... 46 193 (243)\nGain on disposal of discontinued operations, net of tax ...................\n2,861 — —\nAdjustment to gain on disposal of discontinued operations, net of\ntax .................................................................................................... (9) — —\nIncome (loss) fr f f om discontinued operations, net of tax ............................\nNet income (loss) ......................................................................................\n1,357 (1,276) (2,143)\nNet loss attributabl\na e to noncontrolling interests fr f f om continuing\noperations ................................................................................................ 475 315 458\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ......................... $ 1,832 $ (961) $ (1,685)\nEarnings (loss) per share - basic and diluted:\nLoss fr f f om continuing operations....................................................... $ (1.40) $ (1.51) $ (1.89)\nIncome (loss) fr f f om discontinued operations, net of tax ....................\n3.80 0.25 (0.32)\nNet income (loss) attributabl a e to Las Vegas Sands Corp. r r ................. $ Weighted average shares outstanding:\nBasic and diluted ...............................................................................\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.\n2,898 193 (243)\n2.40 $ (1.26) $ (2.21)\n764 764 764\n76\nLAS VEGAS SANDS CORP. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)\nYear Ended December 31,\n2022 2021 2020\n(In millions)\nNet income (loss) ...................................................................................... $ 1,357 $ (1,276) $ (2,143)\nCurrency translation adjustment................................................................ 14 (51) 37\nCash fl f f ow hedge fa f f ir value adjustment ..................................................... (3) (4) —\nTotal comprehensive income (loss)........................................................... 1,368 (1,331) (2,106)\nComprehensive loss attributabl a e to noncontrolling interests .................... 479 319 453\nComprehensive income (loss) attributabl a e to Las Vegas Sands Corp. r r ..... $ 1,847 $ (1,012) $ (1,653)\nThe accompanying notes are an integral part of these consolidated fi\nf f nancial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000387_segments",
      "report_id": "ID_000387",
      "company_name": "Las Vegas Sands",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "The Venetian Macao; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao; and the Sands Macao. Our operating segment in Singapore is Marina Bay Sands.",
      "golden_context": "Page 46:\n\nn statements in this \"Management's Discussion and Analysis of Financial Condition and Results of\nOperations\" are for f f ward-looking statements. See \"Special Note Regarding Forward-Looking Statements.\n\"\nOverview\nWe view each of our Integrated Resorts as an operating segment. Our operating segments in Macao consist of\nThe Venetian Macao; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao; and\nthe Sands Macao. Our operating segment in Singapor\na e is Marina Bay Sands.\nOn Februa r r ry r r 23, 2022, we closed on the sale of our Las Vegas real property and operations, including The\nf f\nVenetian Resort Las Vegas and the Sands Expo and Convention Center (the “Las Vegas Operations”), for\n$6.25 billion (the “Las Vegas Sale”). At closing, we received appr a oximately $5.05 billion in cash proceeds, befor f f e\ntransaction costs and working capi a tal adjustments of $77 million, a $1.20 billion seller fi f f nancing loan and\nrecognized a gain on disposal of $3.60 billion, befor f f e income tax expense of $750 million, during the year ended\nDecember 31, 2022.\nDuring 2022, we achieved milestones in advancing several of our strategic objectives. We were awarded a\nnew 10-year gaming concession for f f the operation of casino games of chance in Macao under the Concession entered\ninto with the Macao government. We completed our key development project in Macao with the conversion of\nSands Cotai Central into The Londoner Macao, in which the Londoner Arena and the expansion of the Shoppes at\nLondoner were completed during the fi f f rst half of 2022. We began renovations at Marina Bay Sands, to provide\nworld-class suites in Tower 1 and Tower 2, and welcomed the retur t n of Marina Bay Sands to normal operating\nconditions in the second half of 2022 with the removal of various COVID-19 restrictions. We also continued to\nstrengthen our balance sheet with the completion of the sale of the Las Vegas Operations.\nCOVID-19 Pandemic Update\nhile visitation to Macao remains substantially below pre-COVID-19 pandemic levels, the Macao\ngovernment's policy regarding the management of COVID-19 and general travel restrictions has adjusted in line\nwith changes in policy in mainland China in late December 2022 and early January r r 2023. Currently, visitors fr f f om\nmainland China, Hong Kong and Taiwan may enter Macao, subject to them holding the appr a opriate travel\ndocuments, without having to present any proof of COVID-19 testing. Arrivals fr f f om for f f eign countries must provide\nproof of a negative COVID-19 nucl",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_cash_flow",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3227m, \ninvesting: -1254m, \nfinancing: -3188",
      "golden_context": "Page 61:\n\nar Ended December 31, 2022 Compared to the Year Ended December 31, 2021\nA discussion of changes in our results of operations between 2022 and 2021 has been omitted from this Form\n10-K and can be found in “Item 7 — Management's Discussion and Analysis of Financial Condition and Results of\nOperations — Year Ended December 31, 2022 Compared to the Year Ended December 31, 2021” of the Company's\nAnnual Report on Form 10-K for the fiscal year ended December 31, 2022.\nLiquidity and Capital Resources\nCash Flows — Summary\nOur cash flows consisted of the following:\nYear Ended December 31,\n2023 2022\n(In millions)\n3,227 $ Net cash generated from (used in) operating activities from continuing operations. $ (944)\nCash flows from investing activities from continuing operations:\nCapital expenditures........................................................................................... (1,017) (651)\nProceeds from disposal of property and equipment........................................... 3 9\nAcquisition of intangible assets and other ......................................................... (240) (129)\nProceeds from seller loan...................................................................................\n— 50\nNet cash used in investing activities from continuing operations............................. (1,254) (721)\nCash flows from financing activities from continuing operations:\nProceeds from exercise of stock options............................................................ 4 —\nTax withholding on vesting of equity awards.................................................... (2) (1)\nRepurchase of common stock ............................................................................ (505) —\nDividends paid ................................................................................................... (305) —\nProceeds from long-term debt............................................................................\n— 1,200\nRepayments of long-term debt........................................................................... (2,069) (66)\nPayments of financing costs............................................................................... (32) (11)\nUnsettled forward contract for purchase of noncontrolling interest .................. (250) —\nOther................................................................................................................... (29) —\nTransaction with discontinued operations..........................................................\n— 5,032\nNet cash generated from (used in) financing activities from continuing operations. $ (3,188) $ 6,154\nA discussion of changes in cash flows between 2022 and 2021 has been omitted from this Form 10-K and can\nbe found in “Item 7 — Management's Discussion and Analysis of Financial Condition and Results of Operations —\nLiquidity and Capital Resources” of the Company's Annual Report on Form 10-K for the fiscal year ended\nDecember 31, 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_company_type",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corp.",
      "golden_context": "Page 3:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission file number 001-32373\nTitle of Each Class Common Stock ($0.001 par value) LAS VEGAS SANDS CORP.\n(Exact name of registrant as specified in its charter)\nNevada 27-0099920\n(State or other jurisdiction of\nincorporation or organization)\n(IRS Employer\nIdentification No.)\n5420 S. Durango Dr.\nLas Vegas, Nevada 89113\n(Address of principal executive offices) (Zip Code)\nRegistrant's telephone number, including area code:\n(702) 923-9000\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol LVS Name of Each Exchange on Which Registered\nNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☐\nNo ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such\nfiling requirements for the past 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to\nsubmit such files). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or\nan emerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth\ncompany\" in Rule 12b-2 of the Exchange Act. (Check one):\nLarge Accelerated Filer ☒ Accelerated Filer ☐ Emerging Growth Company ☐\nNon-Accelerated Filer ☐ Smaller Reporting Company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm\nthat prepared or issued its audit report. ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included\nin the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant's executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of June 30, 2023, the last business day of the registrant's most recently completed second fiscal quarter, the aggregate market value of the\nregistrant's common stock held by non-affiliates of the registrant was $19,205,929,006 based on the closing sale price on that date as reported on the\nNew York Stock Exchange.\nThe Company had 753,621,428 shares of common stock outstanding as of January 31, 2024.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the definitive Proxy Statement to be used in connection with the registrant's 2024 Annual Meeting of Stockholders are incorporated into\nPart III (Item 10 through Item 14) of this Annual Report on Form 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_key_financials",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "net revenues 10'372m, \noperating income 2.31bn, \nnet income of 1.43bn\n\n",
      "golden_context": "Page 51:\n\nYear Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nSummary Financial Results\nWe continued to see positive financial results for the year ended December 31, 2023, due to the lift of\nCOVID-19 restrictions in Macao beginning in late December 2022 and the elimination of most pandemic-related\nrestrictions in Singapore in April 2022. Macao visitation from mainland China increased 273.1% compared to the\nyear ended December 31, 2022 due to relaxed general travel restrictions. Singapore visitation increased 115.8% as\ncompared to the year ended December 31, 2022 due to the elimination of all remaining pandemic restrictions in\nFebruary 2023 and an 83% increase in airlift passenger movement compared to the year ended December 31, 2022.\nNet revenues for the year ended December 31, 2023 were $10.37 billion, compared to $4.11 billion for the\nyear ended December 31, 2022. Operating income was $2.31 billion for the year ended December 31, 2023,\ncompared to an operating loss of $792 million for the year ended December 31, 2022. Net income from continuing\noperations was $1.43 billion for the year ended December 31, 2023, compared to a net loss of $1.54 billion for the\nyear ended December 31, 2022.\nOperating Revenues\nOur net revenues consisted of the following:\nYear Ended December 31,\n2023 2022\nPercent\nChange\n(Dollars in millions)\nCasino .................................................................................................. $ 7,522 $ 2,627 186.3 %\nRooms.................................................................................................. 1,204 469 156.7 %\nFood and beverage...............................................................................\n584 301 94.0 %\nMall......................................................................................................\n767 580 32.2 %\nConvention, retail and other ................................................................\n295 133 121.8 %\nTotal net revenues................................................................................ $ 10,372 $ 4,110 152.4 %\nConsolidated net revenues were $10.37 billion for the year ended December 31, 2023, an increase of $6.26\nbillion compared to $4.11 billion for the year ended December 31, 2022, primarily driven by an increase of\n$4.93 billion at our Macao operations. The increase at our Macao operations was due to increased visitation as\nCOVID-19 restrictions were lifted in Macao and the surrounding region in late December 2022 and early January\n2023. In addition, an increase of $1.33 billion at Marina Bay Sands was primarily due to increased visitation from\nthe reopening of borders and elimination of all remaining pandemic-related restrictions in February 2023 and an\nincrease in airlift passenger movement in 2023.\nNet casino revenues increased $4.90 billion compared to the year ended December 31, 2022. The increase was\ndriven by a $3.89 billion increase at our Macao operations due to increased visitation across our properties resulting\nin increased table games and slot volumes, partially offset by a decrease in table games win percentages. Casino\nrevenues at Marina Bay Sands increased by $1.0 billion due to increased table games and slot volumes, partially\noffset by a decrease in slot hold percentage. The lift of COVID-19 restrictions in Macao beginning in late December\n2022 and elimination of restrictions in Singapore in February 2023 and an increase in airlift passenger movement in\n2023 led to increased visitation and table games and slot volume",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_revenue",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "10372m",
      "golden_context": "Page 51:\n\nYear Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nSummary Financial Results\nWe continued to see positive financial results for the year ended December 31, 2023, due to the lift of\nCOVID-19 restrictions in Macao beginning in late December 2022 and the elimination of most pandemic-related\nrestrictions in Singapore in April 2022. Macao visitation from mainland China increased 273.1% compared to the\nyear ended December 31, 2022 due to relaxed general travel restrictions. Singapore visitation increased 115.8% as\ncompared to the year ended December 31, 2022 due to the elimination of all remaining pandemic restrictions in\nFebruary 2023 and an 83% increase in airlift passenger movement compared to the year ended December 31, 2022.\nNet revenues for the year ended December 31, 2023 were $10.37 billion, compared to $4.11 billion for the\nyear ended December 31, 2022. Operating income was $2.31 billion for the year ended December 31, 2023,\ncompared to an operating loss of $792 million for the year ended December 31, 2022. Net income from continuing\noperations was $1.43 billion for the year ended December 31, 2023, compared to a net loss of $1.54 billion for the\nyear ended December 31, 2022.\nOperating Revenues\nOur net revenues consisted of the following:\nYear Ended December 31,\n2023 2022\nPercent\nChange\n(Dollars in millions)\nCasino .................................................................................................. $ 7,522 $ 2,627 186.3 %\nRooms.................................................................................................. 1,204 469 156.7 %\nFood and beverage...............................................................................\n584 301 94.0 %\nMall......................................................................................................\n767 580 32.2 %\nConvention, retail and other ................................................................\n295 133 121.8 %\nTotal net revenues................................................................................ $ 10,372 $ 4,110 152.4 %\nConsolidated net revenues were $10.37 billion for the year ended December 31, 2023, an increase of $6.26\nbillion compared to $4.11 billion for the year ended December 31, 2022, primarily driven by an increase of\n$4.93 billion at our Macao operations. The increase at our Macao operations was due to increased visitation as\nCOVID-19 restrictions were lifted in Macao and the surrounding region in late December 2022 and early January\n2023. In addition, an increase of $1.33 billion at Marina Bay Sands was primarily due to increased visitation from\nthe reopening of borders and elimination of all remaining pandemic-related restrictions in February 2023 and an\nincrease in airlift passenger movement in 2023.\nNet casino revenues increased $4.90 billion compared to the year ended December 31, 2022. The increase was\ndriven by a $3.89 billion increase at our Macao operations due to increased visitation across our properties resulting\nin increased table games and slot volumes, partially offset by a decrease in table games win percentages. Casino\nrevenues at Marina Bay Sands increased by $1.0 billion due to increased table games and slot volumes, partially\noffset by a decrease in slot hold percentage. The lift of COVID-19 restrictions in Macao beginning in late December\n2022 and elimination of restrictions in Singapore in February 2023 and an increase in airlift passenger movement in\n2023 led to increased visitation and table games and slot volume",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_revenue_growth",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "10372m, prior year: 4110m",
      "golden_context": "Page 51:\n\nYear Ended December 31, 2023 Compared to the Year Ended December 31, 2022\nSummary Financial Results\nWe continued to see positive financial results for the year ended December 31, 2023, due to the lift of\nCOVID-19 restrictions in Macao beginning in late December 2022 and the elimination of most pandemic-related\nrestrictions in Singapore in April 2022. Macao visitation from mainland China increased 273.1% compared to the\nyear ended December 31, 2022 due to relaxed general travel restrictions. Singapore visitation increased 115.8% as\ncompared to the year ended December 31, 2022 due to the elimination of all remaining pandemic restrictions in\nFebruary 2023 and an 83% increase in airlift passenger movement compared to the year ended December 31, 2022.\nNet revenues for the year ended December 31, 2023 were $10.37 billion, compared to $4.11 billion for the\nyear ended December 31, 2022. Operating income was $2.31 billion for the year ended December 31, 2023,\ncompared to an operating loss of $792 million for the year ended December 31, 2022. Net income from continuing\noperations was $1.43 billion for the year ended December 31, 2023, compared to a net loss of $1.54 billion for the\nyear ended December 31, 2022.\nOperating Revenues\nOur net revenues consisted of the following:\nYear Ended December 31,\n2023 2022\nPercent\nChange\n(Dollars in millions)\nCasino .................................................................................................. $ 7,522 $ 2,627 186.3 %\nRooms.................................................................................................. 1,204 469 156.7 %\nFood and beverage...............................................................................\n584 301 94.0 %\nMall......................................................................................................\n767 580 32.2 %\nConvention, retail and other ................................................................\n295 133 121.8 %\nTotal net revenues................................................................................ $ 10,372 $ 4,110 152.4 %\nConsolidated net revenues were $10.37 billion for the year ended December 31, 2023, an increase of $6.26\nbillion compared to $4.11 billion for the year ended December 31, 2022, primarily driven by an increase of\n$4.93 billion at our Macao operations. The increase at our Macao operations was due to increased visitation as\nCOVID-19 restrictions were lifted in Macao and the surrounding region in late December 2022 and early January\n2023. In addition, an increase of $1.33 billion at Marina Bay Sands was primarily due to increased visitation from\nthe reopening of borders and elimination of all remaining pandemic-related restrictions in February 2023 and an\nincrease in airlift passenger movement in 2023.\nNet casino revenues increased $4.90 billion compared to the year ended December 31, 2022. The increase was\ndriven by a $3.89 billion increase at our Macao operations due to increased visitation across our properties resulting\nin increased table games and slot volumes, partially offset by a decrease in table games win percentages. Casino\nrevenues at Marina Bay Sands increased by $1.0 billion due to increased table games and slot volumes, partially\noffset by a decrease in slot hold percentage. The lift of COVID-19 restrictions in Macao beginning in late December\n2022 and elimination of restrictions in Singapore in February 2023 and an increase in airlift passenger movement in\n2023 led to increased visitation and table games and slot volume",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000388_segments",
      "report_id": "ID_000388",
      "company_name": "Las Vegas Sands",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "The Venetian Macao; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao; and Sands Macao. In Singapore, our operating segment is Marina Bay Sands.",
      "golden_context": "Page 6:\n\nished to, the SEC and are also available at the SEC's web site address at www.sec.gov.\nInvestors and others should note we announce material financial information using our investor relations\nwebsite (https://investor.sands.com), our company website, SEC filings, investor events, news and earnings releases,\npublic conference calls and webcasts. We use these channels to communicate with our investors and the public\nabout our company, our products and services, and other issues.\nIn addition, we post certain information regarding SCL, a subsidiary of LVSC with ordinary shares listed on\nThe Stock Exchange of Hong Kong Limited, from time to time on our company website and our investor relations\nwebsite. It is possible the information we post regarding SCL could be deemed to be material information.\nThe contents of these websites are not intended to be incorporated by reference into this Annual Report on\nForm 10-K or in any other report or document we file or furnish with the SEC, and any reference to these websites\nare intended to be inactive textual references only.\nThis Annual Report on Form 10-K contains certain forward-looking statements. See “Item 7 — Management's\nDiscussion and Analysis of Financial Condition and Results of Operations — Special Note Regarding Forward-\nLooking Statements.”\nOur principal operating and developmental activities occur in two geographic areas: Macao and Singapore.\nManagement reviews the results of operations for each of its operating segments, which generally are our Integrated\nResorts. In Macao, our operating segments are: The Venetian Macao; The Londoner Macao; The Parisian Macao;\nThe Plaza Macao and Four Seasons Macao; and Sands Macao. In Singapore, our operating segment is Marina Bay\nSands. Additionally, prior to its sale, our operating segment in the United States was The Venetian Resort Las\nVegas and the Sands Expo and Convention Center (together, the “Las Vegas Operating Properties”) through\nFebruary 22, 2022, which has been disclosed as a discontinued operation. We also review construction and\ndevelopment activities for our primary projects under development, in addition to our reportable segments noted\nabove. We also have ferry operations and various other operations that are ancillary to our Macao properties\n(collectively, “Ferry Operations and Other”).\nStrengths and Strategies\nWe believe we have a number of strengths that differentiate our business from our competitors, including:\nDiversified, high quality Integrated Resort offerings with substantial non-gaming amenities. Our\nIntegrated Resorts feature non-gaming attractions and amenities including world-class entertainment, expansive\nretail offerings and market-leading MICE facilities. These attractions and amenities enhance the appeal of our\nIntegrated Resorts, contributing to visitation, length of stay and customer spending at our resorts. The broad appeal\nof our market-leading Integrated Resort offerings in our various markets enables us to serve the widest array of\ncustomer segments in each market.\nSubstantial and diversified cash flow from existing operations. Our Integrated Resorts in Macao and\nSingapore have contributed 54% and 46%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_cash_flow",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 905259k, investing: -397397k, financing: -533265",
      "golden_context": "Page 59:\n\nomparison of Year Ended December 31, 2020 to the Year Ended December 31, 2019\nFor the comparison of the years ended December 31, 2020 and December 31, 2019, refer to Part II, Item 7\n‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ on Form 10-K for\nthe fiscal year ended December 31, 2020, filed with the SEC on February 19, 2021 under the subheading\n‘‘Comparison of Year Ended December 31, 2020 to the Year Ended December 31, 2019.’’\nLiquidity and Capital Resources\nThe following table sets forth the Company’s cash flows for 2021, 2020 and 2019 ($ in thousands):\nFor the year ended December 31,\n2021 2020 2019\nCash flow provided by (used in):\nOperating activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 905,259 $ 803,108 $ 919,079\n$(397,397) $(416,900) $(527,691)\n$(533,265) $(383,261) $(461,689)\n49\nEssex’s business is operated primarily through the Operating Partnership. Essex issues public equity from time to\ntime, but does not otherwise generate any capital itself or conduct any business itself, other than incurring certain\nexpenses from operating as a public company which are fully reimbursed by the Operating Partnership. Essex\nitself does not hold any indebtedness, and its only material asset is its ownership of partnership interests of the\nOperating Partnership. Essex’s principal funding requirement is the payment of dividends on its common stock\nand preferred stock. Essex’s sole source of funding for its dividend payments is distributions it receives from the\nOperating Partnership.\nAs of December 31, 2021, Essex owned a 96.6% general partner interest and the limited partners owned the\nremaining 3.4% interest in the Operating Partnership.\nThe liquidity of Essex is dependent on the Operating Partnership’s ability to make sufficient distributions to\nEssex. The primary cash requirement of Essex is its payment of dividends to its stockholders. Essex also\nguarantees some of the Operating Partnership’s debt, as discussed further in Notes 7 and 8 to our consolidated\nfinancial statements included in Part IV, Item 15 of this Annual Report on Form 10-K. If the Operating\nPartnership fails to fulfill certain of its debt requirements, which trigger Essex’s guarantee obligations, then Essex\nwill be required to fulfill its cash payment commitments under such guarantees. However, Essex’s only\nsignificant asset is its investment in the Operating Partnership.\nFor Essex to maintain its qualification as a REIT, it ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_company_type",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(MARK ONE)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\n001-13106 (Essex Property Trust, Inc.)\n333-44467-01 (Essex Portfolio, L.P.)\n(Commission File Number)\nESSEX PROPERTY TRUST, INC.\nESSEX PORTFOLIO, L.P.\n(Exact name of Registrant as Specified in its Charter)\nCalifornia (Essex Portfolio, L.P.)\n(State or Other Jurisdiction of Incorporation or Organization) Maryland (Essex Property Trust, Inc.)\n1100 Park Place, Suite 200\nSan Mateo, California 94403\n77-0369576 (Essex Property Trust, Inc.)\n77-0369575 (Essex Portfolio, L.P.)\n(I.R.S. Employer Identification Number)\nTitle of each class (Address of Principal Executive Offices including Zip Code)\n(650) 655-7800\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nCommon Stock, $.0001 par value\n(Essex Property Trust, Inc.)\nESS New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nEssex Property Trust, Inc. Yes ☒ No □ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nEssex Property Trust, Inc. Yes □ No ☒ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_key_financials",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "net income 515691k, basic net income available to common unitholders: 7.51",
      "golden_context": "Page 86:\n\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears ended December 31, 2021, 2020, and 2019\n(Dollars in thousands, except per unit and unit amounts)\n2021 2020 2019\nRevenues:\nRental and other property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . . . . $ 1,431,418 9,138 $ 1,486,150 9,598 $ 1,450,628\n9,527\n1,440,556 1,495,748 1,460,155\nExpenses:\nProperty operating, excluding real estate taxes . . . . . . . . . . . . . . . . . . Real estate taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs. . . . . . . . . . . . . . . Impairment loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241,357\n155,170\n34,067\n483,750\n54,262\n168\n7,105\n264,892 263,389 180,367 177,011 36,188 34,573 520,066 525,497 51,838 65,388 203 1,591 — 1,825 1,053,554 1,069,274 975,879\n142,993 64,967 (3,164)\nGain (loss) on sale of real estate and land . . . . . . . . . . . . . . . . . . . . . Earnings from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred tax expense on unrealized gain on unconsolidated\nco-investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Loss) gain on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interest . . . . . . . . . . . . . . . Net income available to common unitholders. . . . . . . . . . . . . . . . . Per unit data:\nBasic:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529,995 (203,125) 10,774 98,744 111,721 (15,668) (19,010) 2,260 491,441 (220,633) 10,733 40,999 66,512 (1,531) (22,883) 234,694 481,112\n(217,339)\n8,446\n46,298\n112,136\n(1,457)\n3,717\n31,535\n515,691 (9,946) 599,332 (10,550) 464,448\n(9,819)\n$ 505,745 $ 588,782 $ 454,629\n$ 7.51 $ 8.69 $ 6.67\n67,340,856 67,750,665 68,140,900\n$ 7.51 $ 8.69 $ 6.66\n67,378,265 67,861,590 68,239,933",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_revenue",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "revenues 1440556k",
      "golden_context": "Page 86:\n\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears ended December 31, 2021, 2020, and 2019\n(Dollars in thousands, except per unit and unit amounts)\n2021 2020 2019\nRevenues:\nRental and other property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . . . . $ 1,431,418 9,138 $ 1,486,150 9,598 $ 1,450,628\n9,527\n1,440,556 1,495,748 1,460,155\nExpenses:\nProperty operating, excluding real estate taxes . . . . . . . . . . . . . . . . . . Real estate taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs. . . . . . . . . . . . . . . Impairment loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241,357\n155,170\n34,067\n483,750\n54,262\n168\n7,105\n264,892 263,389 180,367 177,011 36,188 34,573 520,066 525,497 51,838 65,388 203 1,591 — 1,825 1,053,554 1,069,274 975,879\n142,993 64,967 (3,164)\nGain (loss) on sale of real estate and land . . . . . . . . . . . . . . . . . . . . . Earnings from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred tax expense on unrealized gain on unconsolidated\nco-investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Loss) gain on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interest . . . . . . . . . . . . . . . Net income available to common unitholders. . . . . . . . . . . . . . . . . Per unit data:\nBasic:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529,995 (203,125) 10,774 98,744 111,721 (15,668) (19,010) 2,260 491,441 (220,633) 10,733 40,999 66,512 (1,531) (22,883) 234,694 481,112\n(217,339)\n8,446\n46,298\n112,136\n(1,457)\n3,717\n31,535\n515,691 (9,946) 599,332 (10,550) 464,448\n(9,819)\n$ 505,745 $ 588,782 $ 454,629\n$ 7.51 $ 8.69 $ 6.67\n67,340,856 67,750,665 68,140,900\n$ 7.51 $ 8.69 $ 6.66\n67,378,265 67,861,590 68,239,933",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_revenue_growth",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "revenues 1440556k, prior year 1495748k",
      "golden_context": "Page 86:\n\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears ended December 31, 2021, 2020, and 2019\n(Dollars in thousands, except per unit and unit amounts)\n2021 2020 2019\nRevenues:\nRental and other property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . . . . $ 1,431,418 9,138 $ 1,486,150 9,598 $ 1,450,628\n9,527\n1,440,556 1,495,748 1,460,155\nExpenses:\nProperty operating, excluding real estate taxes . . . . . . . . . . . . . . . . . . Real estate taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs. . . . . . . . . . . . . . . Impairment loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241,357\n155,170\n34,067\n483,750\n54,262\n168\n7,105\n264,892 263,389 180,367 177,011 36,188 34,573 520,066 525,497 51,838 65,388 203 1,591 — 1,825 1,053,554 1,069,274 975,879\n142,993 64,967 (3,164)\nGain (loss) on sale of real estate and land . . . . . . . . . . . . . . . . . . . . . Earnings from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred tax expense on unrealized gain on unconsolidated\nco-investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Loss) gain on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interest . . . . . . . . . . . . . . . Net income available to common unitholders. . . . . . . . . . . . . . . . . Per unit data:\nBasic:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted:\nNet income available to common unitholders. . . . . . . . . . . . . . . . . Weighted average number of common units outstanding during\nthe year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529,995 (203,125) 10,774 98,744 111,721 (15,668) (19,010) 2,260 491,441 (220,633) 10,733 40,999 66,512 (1,531) (22,883) 234,694 481,112\n(217,339)\n8,446\n46,298\n112,136\n(1,457)\n3,717\n31,535\n515,691 (9,946) 599,332 (10,550) 464,448\n(9,819)\n$ 505,745 $ 588,782 $ 454,629\n$ 7.51 $ 8.69 $ 6.67\n67,340,856 67,750,665 68,140,900\n$ 7.51 $ 8.69 $ 6.66\n67,378,265 67,861,590 68,239,933",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000389_segments",
      "report_id": "ID_000389",
      "company_name": "Essex Property Trust",
      "year": 2021,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Southern California, Northern California and Seattle Metro",
      "golden_context": "Page 125:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nDecember 31, 2021, 2020, and 2019\n(15) Segment Information\nThe Company’s segment disclosures present the measure used by the chief operating decision makers for\npurposes of assessing each segment’s performance. The Company’s chief operating decision makers are\ncomprised of several members of its executive management team who use net operating income (‘‘NOI’’) to\nassess the performance of the business for the Company’s reportable operating segments. NOI represents total\nproperty revenues less direct property operating expenses.\nThe executive management team generally evaluates the Company’s operating performance geographically. The\nCompany defines its reportable operating segments as the three geographical regions in which its communities\nare located: Southern California, Northern California and Seattle Metro.\nExcluded from segment revenues and NOI are management and other fees from affiliates and interest and other\nincome. Non-segment revenues and NOI included in the following schedule also consist of revenues generated\nfrom commercial properties and properties that have been sold. Other non-segment assets include items such as\nreal estate under development, co-investments, real estate held for sale, cash and cash equivalents, marketable\nsecurities, notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2021, 2020, and 2019 ($ in thousands):\nYears Ended December 31,\n2021 2020 2019\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Impairment loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain (loss) on sale of real estate and land . . . . . . . . . . . . . . . . . . Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Deferred tax expense on unrealized gain on unconsolidated\nco-investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Loss) gain on early retirement of debt, net . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 588,381 584,034 239,839 19,164 $ 566,553 604,348 243,900 71,349 $ 593,253\n557,139\n243,060\n57,176\n$1,431,418 $1,486,150 $1,450,628\n$ 408,207 401,862 160,954 15,136 $ 391,095 431,124 166,847 56,684 $ 423,177\n412,706\n172,601\n45,617\n986,159 9,138 (36,188) (520,066) (51,838) (203) 142,993 (203,125) 10,774 98,744 111,721 1,045,750 9,598 (34,573) (525,497) (65,388) (1,591) — (1,825) 64,967 (220,633) 10,733 40,999 66,512 (15,668) (19,010) 2,260 (1,531) (22,883) 234,694 1,054,101\n9,527\n(34,067)\n(483,750)\n(54,262)\n(168)\n(7,105)\n(3,164)\n(217,339)\n8,446\n46,298\n112,136\n(1,457)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_cash_flow",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "operating: 975649k, investing: 145958k, financing: -1137564k",
      "golden_context": "Page 52:\n\nn The Village at Toluca Lake community in the second quarter of 2021.\nComparison of Year Ended December 31, 2021 to the Year Ended December 31, 2020\nFor the comparison of the years ended December 31, 2021 and December 31, 2020, refer to Part II, Item 7\n‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ on Form 10-K for\nthe fiscal year ended December 31, 2021, filed with the SEC on February 25, 2022 under the subheading\n‘‘Comparison of Year Ended December 31, 2021 to the Year Ended December 31, 2020.’’\nLiquidity and Capital Resources\nThe following table sets forth the Company’s cash flows for 2022, 2021 and 2020 ($ in thousands):\nFor the year ended December 31,\n2022 2021 2020\n$ 975,649 $ 905,259 $ 803,108\n$ 145,958 $(397,397) $(416,900)\n$(1,137,564) $(533,265) Cash flow provided by (used in):\nOperating activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Essex’s business is operated primarily through the Operating Partnership. Essex issues public equity from time to\ntime, but does not otherwise generate any capital itself or conduct any business itself, other than incurring certain\nexpenses from operating as a public company which are fully reimbursed by the Operating Partnership. Essex\nitself does not hold any indebtedness, and its only material asset is its ownership of partnership interests of the\nOperating Partnership. Essex’s principal funding requirement is the payment of dividends on its common stock.\nEssex’s sole source of funding for its dividend payments is distributions it receives from the Operating\nPartnership.\n$(383,261)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_company_type",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(MARK ONE)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\n001-13106 (Essex Property Trust, Inc.)\n333-44467-01 (Essex Portfolio, L.P.)\n(Commission File Number)\nESSEX PROPERTY TRUST, INC.\nESSEX PORTFOLIO, L.P.\n(Exact name of Registrant as Specified in its Charter)\nCalifornia (Essex Portfolio, L.P.)\n(State or Other Jurisdiction of Incorporation or Organization) Maryland (Essex Property Trust, Inc.)\n1100 Park Place, Suite 200\nSan Mateo, California 94403\n77-0369576 (Essex Property Trust, Inc.)\n77-0369575 (Essex Portfolio, L.P.)\n(I.R.S. Employer Identification Number)\nTitle of each class (Address of Principal Executive Offices including Zip Code)\n(650) 655-7800\n(Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of each exchange on which registered\nCommon Stock, $.0001 par value\n(Essex Property Trust, Inc.)\nESS New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nEssex Property Trust, Inc. Yes ☒ No □ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nEssex Property Trust, Inc. Yes □ No ☒ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days.\nEssex Property Trust, Inc. Yes ☒ No □ Essex Portfolio, L.P. Yes ☒ No □",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_key_financials",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "revenues 1595675k, total net operating income 1128406k, net income 432985k",
      "golden_context": "Page 117:\n\notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2022, 2021, and 2020 ($ in thousands):\nYears Ended December 31,\n2022 2021 2020\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Impairment loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Deferred tax benefit (expense) on unconsolidated\nco-investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 652,742 639,138 271,248 32,547 $ 580,305 584,034 239,839 27,240 $ 558,839\n604,348\n243,900\n79,063\n$1,595,675 $1,431,418 $1,486,150\n$ 464,023 445,763 191,476 27,144 $ 402,608 401,870 160,959 20,745 $ 385,766\n431,047\n166,806\n61,919\n1,128,406 11,139 (40,704) (539,319) (56,577) (2,132) 94,416 (204,798) 7,907 (19,040) 26,030 986,182 9,138 (36,211) (520,066) (51,838) (203) — — 142,993 (203,125) 10,774 98,744 111,721 10,236 (2) 17,423 (15,668) (19,010) 2,260 1,045,538\n9,598\n(34,361)\n(525,497)\n(65,388)\n(1,591)\n(1,825)\n64,967\n(220,633)\n10,733\n40,999\n66,512\n(1,531)\n(22,883)\n234,694\n$ 432,985 $ 515,691 $ 599,332",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_revenue",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1595675k",
      "golden_context": "Page 117:\n\notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2022, 2021, and 2020 ($ in thousands):\nYears Ended December 31,\n2022 2021 2020\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Impairment loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Deferred tax benefit (expense) on unconsolidated\nco-investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 652,742 639,138 271,248 32,547 $ 580,305 584,034 239,839 27,240 $ 558,839\n604,348\n243,900\n79,063\n$1,595,675 $1,431,418 $1,486,150\n$ 464,023 445,763 191,476 27,144 $ 402,608 401,870 160,959 20,745 $ 385,766\n431,047\n166,806\n61,919\n1,128,406 11,139 (40,704) (539,319) (56,577) (2,132) 94,416 (204,798) 7,907 (19,040) 26,030 986,182 9,138 (36,211) (520,066) (51,838) (203) — — 142,993 (203,125) 10,774 98,744 111,721 10,236 (2) 17,423 (15,668) (19,010) 2,260 1,045,538\n9,598\n(34,361)\n(525,497)\n(65,388)\n(1,591)\n(1,825)\n64,967\n(220,633)\n10,733\n40,999\n66,512\n(1,531)\n(22,883)\n234,694\n$ 432,985 $ 515,691 $ 599,332",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_revenue_growth",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1595675k, prior year 1431418k",
      "golden_context": "Page 117:\n\notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2022, 2021, and 2020 ($ in thousands):\nYears Ended December 31,\n2022 2021 2020\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Impairment loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Deferred tax benefit (expense) on unconsolidated\nco-investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 652,742 639,138 271,248 32,547 $ 580,305 584,034 239,839 27,240 $ 558,839\n604,348\n243,900\n79,063\n$1,595,675 $1,431,418 $1,486,150\n$ 464,023 445,763 191,476 27,144 $ 402,608 401,870 160,959 20,745 $ 385,766\n431,047\n166,806\n61,919\n1,128,406 11,139 (40,704) (539,319) (56,577) (2,132) 94,416 (204,798) 7,907 (19,040) 26,030 986,182 9,138 (36,211) (520,066) (51,838) (203) — — 142,993 (203,125) 10,774 98,744 111,721 10,236 (2) 17,423 (15,668) (19,010) 2,260 1,045,538\n9,598\n(34,361)\n(525,497)\n(65,388)\n(1,591)\n(1,825)\n64,967\n(220,633)\n10,733\n40,999\n66,512\n(1,531)\n(22,883)\n234,694\n$ 432,985 $ 515,691 $ 599,332",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000390_segments",
      "report_id": "ID_000390",
      "company_name": "Essex Property Trust",
      "year": 2022,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Southern California, Northern California and Seattle Metro.",
      "golden_context": "Page 117:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nDecember 31, 2022, 2021, and 2020\n(15) Segment Information\nThe Company’s segment disclosures present the measure used by the chief operating decision makers for\npurposes of assessing each segment’s performance. The Company’s chief operating decision makers are\ncomprised of several members of its executive management team who use net operating income (‘‘NOI’’) to\nassess the performance of the business for the Company’s reportable operating segments. NOI represents total\nproperty revenues less direct property operating expenses.\nThe executive management team generally evaluates the Company’s operating performance geographically. The\nCompany defines its reportable operating segments as the three geographical regions in which its communities\nare located: Southern California, Northern California and Seattle Metro.\nExcluded from segment revenues and NOI are management and other fees from affiliates and interest and other\nincome. Non-segment revenues and NOI included in the following schedule also consist of revenues generated\nfrom commercial properties and properties that have been sold. Other non-segment assets include items such as\nreal estate under development, co-investments, real estate held for sale, cash and cash equivalents, marketable\nsecurities, notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2022, 2021, and 2020 ($ in thousands):\nYears Ended December 31,\n2022 2021 2020\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Impairment loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Deferred tax benefit (expense) on unconsolidated\nco-investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 652,742 639,138 271,248 32,547 $ 580,305 584,034 239,839 27,240 $ 558,839\n604,348\n243,900\n79,063\n$1,595,675 $1,431,418 $1,486,150\n$ 464,023 445,763 191,476 27,144 $ 402,608 401,870 160,959 20,745 $ 385,766\n431,047\n166,806\n61,919\n1,128,406 11,139 (40,704) (539,319) (56,577) (2,132) 94,416 (204,798) 7,907 (19,040) 26,030 986,182 9,138 (36,211) (520,066) (51,838) (203) — — 142,993 (203,125) 10,774 98,744 111,721 10,236 (2) 17,423 (15,668) (19,010) 2,260 1,045,538\n9,598\n(34,361)\n(525,497)\n(65,388)\n(1,591)\n(1,825)\n64,967\n(220,633)\n10,733\n40,999\n66,512\n(1,531)\n(22,883)\n234,694\n$ 432,985 $ 515,691 $ 599,332",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_cash_flow",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 980064k, investing: -145140k, financing: -477271k",
      "golden_context": "Page 52:\n\n022, primarily due to borrowing on the $300.0 million unsecured term loan in April 2023, the $298.0 million of\n10-year secured loans closed in July 2023, and higher average interest rates resulting in an increase in interest\nexpense of $16.3 million. Additionally, there was a $1.4 million decrease in capitalized interest in 2023, due to a\ndecrease in development activity as compared to the same period in 2022. These increases in interest expense\nwere partially offset by regular principal payments and various debts that matured or were paid off, primarily due\nto the pay down of the $300.0 million of senior unsecured notes due May 1, 2023 and decreased borrowing on\nthe Company’s unsecured lines of credit during and after 2022, which resulted in a decrease in interest expense\nof $9.6 million for 2023.\nInterest and other (loss) income increased by $65.3 million or 343.7% to income of $46.3 million in 2023\ncompared to a loss of $19.0 million in 2022, primarily due to increases of $55.6 million in realized and\nunrealized gains on marketable securities, $7.3 million in marketable securities and other income, and\n$3.7 million in insurance reimbursements, legal settlements, and other, driven by a legal settlement claim.\nEquity income from co-investments decreased by $15.4 million or 59.2% to $10.6 million in 2023 compared to\n$26.0 million in 2022, primarily due to a decrease of $17.1 million in co-investment promote income, an\nincrease of $31.6 million in impairment losses from unconsolidated co-investments offset by an increase of\n$39.7 million in equity income from non-core co-investments.\nComparison of Year Ended December 31, 2022 to the Year Ended December 31, 2021\nFor the comparison of the years ended December 31, 2022 and December 31, 2021, refer to Part II, Item 7\n‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ on Form 10-K for\nthe fiscal year ended December 31, 2022, filed with the SEC on February 23, 2023 under the subheading\n‘‘Comparison of Year Ended December 31, 2022 to the Year Ended December 31, 2021.’’\nLiquidity and Capital Resources\nThe following table sets forth the Company’s cash flows for 2023, 2022 and 2021 ($ in thousands):\nFor the year ended December 31,\n2023 2022 2021\nCash flow provided by (used in):\nOperating activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 980,064 $ 975,649 $ 905,259\n$(145,140) $ 145,958 $(397,397)\n$(477,271) $(1,137,564) $(533,265)\n42\nEssex’s business is operated primarily through the Operating Partnership. Essex issues public equity from time to\ntime, but does not otherwise generate any capital itself or conduct any business itself, other than incurring certain\nexpenses from operating as a public company which are fully reimbursed by the Operating Partnership.\nEssex itself does not hold any indebtedness, and its only material asset is its ownership of partnership interests of\nthe Operating Partnership. Essex’s principal funding requirement is the payment of dividends on its common\nstock. Essex’s sole source of funding for its dividend payments is distributions it receives from the Operating\nPartnership.\nAs of December 31, 2023, Essex owned a 96.6% general partner interest and the limited partners owned the\nremaining 3.4% interest in the Operating Partnership.\nThe liquidity of Essex is dependent on the Operating Partnership’s ability to make sufficient distributions to\nEssex. The primary cash requirement of Essex is its payment of dividends to its stockholders. Essex also\nguarantees some of the Operating Partnership’s debt, as discussed further in Notes 7 and 8 to our consolidated\nfinancial statements included in Part IV, Item 15 of this Annual Report on Form 10-K. If the Operating\nPartnership fails to fulfill certain of its debt requirements, which trigger Essex’s guarantee obligations, then Essex\nwill be required to fulfill its cash payment commitments under such guarantees. However, Essex’s only\nsignificant asset is its investment in the Operating Partnership.\nFor Essex to maintain its qualification as a REIT, it must pay dividends to its stockholders aggregating annually\nat least 90% of its REIT taxable income, excluding net capital gains. While historically Essex has satisfied this\ndistribution requirement by making cash distributions to its stockholders, it may choose to satisfy this\nrequirement by making distributions of other property, including, in limited circumstances, Essex’s own stock. As\na result of this distribution requirement, the Operating Partnership cannot rely on retained earnings to fund its\nongoing operations to the same extent that other companies whose parent companies are not REITs can. Essex\nmay need to continue to raise capital in the equity markets to fund the Operating Partnership’s working capital\nneeds, acquisitions and developments.\nAt December 31, 2023, the Company had $391.7 million of unrestricted cash and cash equivalents and\n$87.8 million in marketable securities. The Company believes that cash flows generated by its operations,\nexisting cash and cash equivalents, marketable securities balances and availability under existing lines of credit\nare sufficient to meet all of its anticipated cash needs during 2024. Additionally, the capital markets continue to\nbe available and the Company is able to generate cash from the disposition of real estate assets to finance\nadditional cash flow needs, including continued development and select acquisitions. In the event that economic\ndisruptions occur, the Company may further utilize other resources such as its cash reserves, lines of credit, or\ndecreased investment in redevelopment activiti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_company_type",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "company_type",
      "golden_answer": "Inc. and L.P.",
      "golden_context": "Page 6:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n(MARK ONE)\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\n001-13106 (Essex Property Trust, Inc.)\n333-44467-01 (Essex Portfolio, L.P.)\n(Commission File Number)\nESSEX PROPERTY TRUST, INC.\nESSEX PORTFOLIO, L.P.\n(Exact name of Registrant as Specified in its Charter)\nCalifornia (Essex Portfolio, L.P.)\n(State or Other Jurisdiction of Incorporation or Organization) (Registrant’s Telephone Number, Including Area Code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Maryland (Essex Property Trust, Inc.)\n1100 Park Place, Suite 200\nSan Mateo, California 94403\n77-0369576 (Essex Property Trust, Inc.)\n77-0369575 (Essex Portfolio, L.P.)\n(I.R.S. Employer Identification Number)\n(Address of Principal Executive Offices including Zip Code)\n(650) 655-7800\nTitle of each class Name of each exchange on which registered\nCommon Stock, $.0001 par value\n(Essex Property Trust, Inc.)\nESS New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nEssex Property Trust, Inc. Yes ☒ No □ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nEssex Property Trust, Inc. Yes □ No ☒ Essex Portfolio, L.P. Yes □ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such\nreports), and (2) has been subject to such filing requirements for the past 90 days.\nEssex Property Trust, Inc. Yes ☒ No □ Essex Portfolio, L.P. Yes ☒ No",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_key_financials",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "key_financials",
      "golden_answer": "total net operating income 1172785k, net income 430708k",
      "golden_context": "Page 115:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nDecember 31, 2023, 2022, and 2021\n(15) Segment Information\nThe Company’s segment disclosures present the measure used by the chief operating decision makers for\npurposes of assessing each segment’s performance. The Company’s chief operating decision makers are\ncomprised of several members of its executive management team who use net operating income (‘‘NOI’’) to\nassess the performance of the business for the Company’s reportable operating segments. NOI represents total\nproperty revenues less direct property operating expenses.\nThe executive management team generally evaluates the Company’s operating performance geographically. The\nCompany defines its reportable operating segments as the three geographical regions in which its communities\nare located: Southern California, Northern California and Seattle Metro.\nExcluded from segment revenues and NOI are management and other fees from affiliates and interest and other\nincome. Non- segment revenues and NOI included in the following schedule also consist of revenues generated\nfrom commercial properties and properties that have been sold. Other non-segment assets include items such as\nreal estate under development, co- investments, real estate held for sale, cash and cash equivalents, marketable\nsecurities, notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2023, 2022, and 2021 ($ in thousands):\nYears Ended December 31,\n2023 2022 2021\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Casualty loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Tax (expense) benefit on unconsolidated co-investments . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 682,116 666,836 282,092 27,220 $ 646,252 639,306 271,248 38,869 $ 574,129\n584,034\n239,839\n33,416\n$1,658,264 $1,595,675 $1,431,418\n$ 483,013 464,949 201,228 23,595 $ 459,762 445,933 191,476 31,235 $ 398,576\n401,870\n160,959\n24,777\n1,172,785 1,128,406 11,131 11,139 (45,872) (40,704) (548,438) (539,319) (63,474) (56,577) (595) (2,132) (433) 59,238 94,416 (212,905) (204,798) 3,148 7,907 46,259 (19,040) 10,561 26,030 (697) 10,236 — (2) — 17,423 $ 430,708 $ 432,985 986,182\n9,138\n(36,211)\n(520,066)\n(51,838)\n(203)\n— —\n142,993\n(203,125)\n10,774\n98,744\n111,721\n(15,668)\n(19,010)\n2,260\n$ 515,691",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_revenue",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue",
      "golden_answer": "1669395k",
      "golden_context": "Page 72:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands, except per share and share amounts)\n2023 2022 2021\nRevenues:\nRental and other property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . $ 1,658,264 11,131 $ 1,595,675 11,139 $ 1,431,418\n9,138\n1,669,395 1,606,814 1,440,556\nExpenses:\nProperty operating, excluding real estate taxes . . . . . . . . . . . . . . . Real estate taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Casualty loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 299,672 185,807 45,872 548,438 63,474 595 433 283,351 183,918 40,704 539,319 56,577 2,132 264,869\n180,367\n36,211\n520,066\n51,838\n203\n— —\n1,144,291 1,106,001 1,053,554\n59,238 94,416 142,993\n584,342 595,229 (212,905) (204,798) 3,148 7,907 46,259 (19,040) 10,561 26,030 (697) 10,236 — (2) — 17,423 430,708 (24,883) 529,995\n(203,125)\n10,774\n98,744\n111,721\n(15,668)\n(19,010)\n2,260\n432,985 (24,670) Gain on sale of real estate and land . . . . . . . . . . . . . . . . . . . . . . . . . . Earnings from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments . . . . . . . . . . . . . . . . . . . . . . . . . . Tax (expense) benefit on unconsolidated co-investments . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interest . . . . . . . . . . . . . . . Net income available to common stockholders . . . . . . . . . . . . . $ 405,825 $ 408,315 $ 488,554\nPer share data:\nBasic:\nNet income available to common stockholders . . . . . . . . . . . . . $ 6.32 $ 6.27 $ 7.51\nWeighted average number of shares outstanding during the\nyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted:\nNet income available to common stockholders . . . . . . . . . . . . . $ 6.32 $ 6.27 $ 7.51\nWeighted average number of shares outstanding during the\nyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 515,691\n(27,137)\n64,252,232 65,079,764 65,051,465\n64,253,385 65,098,186 65,088,874",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_revenue_growth",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "revenue_growth",
      "golden_answer": "1669395k, prior year 1606814k",
      "golden_context": "Page 72:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nConsolidated Statements of Income\nYears ended December 31, 2023, 2022 and 2021\n(Dollars in thousands, except per share and share amounts)\n2023 2022 2021\nRevenues:\nRental and other property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . $ 1,658,264 11,131 $ 1,595,675 11,139 $ 1,431,418\n9,138\n1,669,395 1,606,814 1,440,556\nExpenses:\nProperty operating, excluding real estate taxes . . . . . . . . . . . . . . . Real estate taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Casualty loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 299,672 185,807 45,872 548,438 63,474 595 433 283,351 183,918 40,704 539,319 56,577 2,132 264,869\n180,367\n36,211\n520,066\n51,838\n203\n— —\n1,144,291 1,106,001 1,053,554\n59,238 94,416 142,993\n584,342 595,229 (212,905) (204,798) 3,148 7,907 46,259 (19,040) 10,561 26,030 (697) 10,236 — (2) — 17,423 430,708 (24,883) 529,995\n(203,125)\n10,774\n98,744\n111,721\n(15,668)\n(19,010)\n2,260\n432,985 (24,670) Gain on sale of real estate and land . . . . . . . . . . . . . . . . . . . . . . . . . . Earnings from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments . . . . . . . . . . . . . . . . . . . . . . . . . . Tax (expense) benefit on unconsolidated co-investments . . . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income attributable to noncontrolling interest . . . . . . . . . . . . . . . Net income available to common stockholders . . . . . . . . . . . . . $ 405,825 $ 408,315 $ 488,554\nPer share data:\nBasic:\nNet income available to common stockholders . . . . . . . . . . . . . $ 6.32 $ 6.27 $ 7.51\nWeighted average number of shares outstanding during the\nyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diluted:\nNet income available to common stockholders . . . . . . . . . . . . . $ 6.32 $ 6.27 $ 7.51\nWeighted average number of shares outstanding during the\nyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 515,691\n(27,137)\n64,252,232 65,079,764 65,051,465\n64,253,385 65,098,186 65,088,874",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000391_segments",
      "report_id": "ID_000391",
      "company_name": "Essex Property Trust",
      "year": 2023,
      "country": "US",
      "industry": "Real Estate",
      "question_type": "segments",
      "golden_answer": "Southern California, Northern California and Seattle Metro",
      "golden_context": "Page 115:\n\nESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES\nESSEX PORTFOLIO, L.P. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS\nDecember 31, 2023, 2022, and 2021\n(15) Segment Information\nThe Company’s segment disclosures present the measure used by the chief operating decision makers for\npurposes of assessing each segment’s performance. The Company’s chief operating decision makers are\ncomprised of several members of its executive management team who use net operating income (‘‘NOI’’) to\nassess the performance of the business for the Company’s reportable operating segments. NOI represents total\nproperty revenues less direct property operating expenses.\nThe executive management team generally evaluates the Company’s operating performance geographically. The\nCompany defines its reportable operating segments as the three geographical regions in which its communities\nare located: Southern California, Northern California and Seattle Metro.\nExcluded from segment revenues and NOI are management and other fees from affiliates and interest and other\nincome. Non- segment revenues and NOI included in the following schedule also consist of revenues generated\nfrom commercial properties and properties that have been sold. Other non-segment assets include items such as\nreal estate under development, co- investments, real estate held for sale, cash and cash equivalents, marketable\nsecurities, notes and other receivables, and prepaid expenses and other assets.\nThe revenues and NOI for each of the reportable operating segments are summarized as follows for the years\nended December 31, 2023, 2022, and 2021 ($ in thousands):\nYears Ended December 31,\n2023 2022 2021\nRevenues:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total property revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income:\nSouthern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Northern California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seattle Metro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other real estate assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . Management and other fees from affiliates . . . . . . . . . . . . . . . . . . Corporate-level property management expenses . . . . . . . . . . . . . . Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Expensed acquisition and investment related costs . . . . . . . . . . . . Casualty loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale of real estate and land. . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total return swap income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest and other income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity income from co-investments. . . . . . . . . . . . . . . . . . . . . . . . Tax (expense) benefit on unconsolidated co-investments . . . . . . . Loss on early retirement of debt, net . . . . . . . . . . . . . . . . . . . . . . . Gain on remeasurement of co-investment . . . . . . . . . . . . . . . . . . . Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 682,116 666,836 282,092 27,220 $ 646,252 639,306 271,248 38,869 $ 574,129\n584,034\n239,839\n33,416\n$1,658,264 $1,595,675 $1,431,418\n$ 483,013 464,949 201,228 23,595 $ 459,762 445,933 191,476 31,235 $ 398,576\n401,870\n160,959\n24,777\n1,172,785 1,128,406 11,131 11,139 (45,872) (40,704) (548,438) (539,319) (63,474) (56,577) (595) (2,132) (433) 59,238 94,416 (212,905) (204,798) 3,148 7,907 46,259 (19,040) 10,561 26,030 (697) 10,236 — (2) — 17,423 $ 430,708 $ 432,985 986,182\n9,138\n(36,211)\n(520,066)\n(51,838)\n(203)\n— —\n142,993\n(203,125)\n10,774\n98,744\n111,721\n(15,668)\n(19,010)\n2,260\n$ 515,691",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_cash_flow",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "free cash flow 1.5bn",
      "golden_context": "Page 9:\n\nWe Deliver Value for Our\nShareowners\nWe establish advantaged\npositions in attractive\nmarket segments with safe,\nefficient manufacturing\noperations near sustainable\nfiber sources.\nFREE CASH FLOW1\n$ Billions\n$2.0\n$2.3\n$2.3\n$1.7\nFCF = $1.5\n$1.5\n$1.6\n$1.3\n$0.8\n$0.8\n2017\nFree Cash Flow 2018\n2019\nCash to Shareowners\n(dividends, share repurchases)\n2020\n2021\n12\nConsecutive years\nof value-creating\nreturns\nADJUSTED DEBT TO EBITDA (TARGET 2.5–2.8X)1\n$ Billions\n3.3x\n$2.0\n2.8x\n$1.8\n2.9x\n$1.6\n2.9x\n$1.1\n$11.2\n$10.7\n$9.8\n2.3x\n$0.4\n$8.1\n$5.6\n2017\n2018\n2019\nPension Gap Balance Sheet Debt Op. Leases\n2020\n20212\nANNUALIZED DIVIDEND Dollars Per Share 2017\n2018\nADJUSTED RETURN ON INVESTED CAPITAL1\n5-Year Average 10% ROIC\n9.9%\n13.2%\n2017\n2018\n2019\n20192\n2020\n20202\n$1.90\n$2.00\n$2.05\n$2.05\n$1.853\n9.6%\n7.4%\n9.8%\n2022 WACC4 7%\n1: Data is inclusive of our former global papers business, which became a standalone, publicly traded company on October 1, 2021, and our former\nKwidzyn, Poland pulp and paper mill which was sold on August 6, 2021, except where indicated.\n2: Restated to exclude global printing papers business and sale of our pulp and paper mill in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_company_type",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 15:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\n12/31/2021\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from - to -\nCommission File No. 1-3157\nINTERNATIONAL PAPER COMPANY\n(Exact name of registrant as specified in its charter)\nNew York 13-0872805\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6400 Poplar Avenue\nMemphis, Tennessee\n(Address of principal executive offices)\n38197\n(Zip Code)\nRegistrant's telephone number, including area code: 901 419-9000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Shares IP New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ý No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ¨ No ý\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ý No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ý No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company\n☒ ☐ ☐ ☐ ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ý\nThe aggregate market value of the Company’s outstanding common stock held by non-affiliates of the registrant, computed by reference to the\nclosing price as reported on the New York Stock Exchange, as of the last business day of the registrant’s most recently completed second fiscal\nquarter (June 30, 2021) was approximately $23,888,254,007.\nThe number of shares outstanding of the Company’s common stock as of February 11, 2022 was 376,364,434.\nDocuments incorporated by reference:\nPortions of the registrant’s proxy statement filed within 120 days of the close of the registrant’s fiscal",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_key_financials",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "free cash flow 1.5bn, adjusted debt to ebitda 2.3x, adjusted ROIC: 9.8%",
      "golden_context": "Page 9:\n\nWe Deliver Value for Our\nShareowners\nWe establish advantaged\npositions in attractive\nmarket segments with safe,\nefficient manufacturing\noperations near sustainable\nfiber sources.\nFREE CASH FLOW1\n$ Billions\n$2.0\n$2.3\n$2.3\n$1.7\nFCF = $1.5\n$1.5\n$1.6\n$1.3\n$0.8\n$0.8\n2017\nFree Cash Flow 2018\n2019\nCash to Shareowners\n(dividends, share repurchases)\n2020\n2021\n12\nConsecutive years\nof value-creating\nreturns\nADJUSTED DEBT TO EBITDA (TARGET 2.5–2.8X)1\n$ Billions\n3.3x\n$2.0\n2.8x\n$1.8\n2.9x\n$1.6\n2.9x\n$1.1\n$11.2\n$10.7\n$9.8\n2.3x\n$0.4\n$8.1\n$5.6\n2017\n2018\n2019\nPension Gap Balance Sheet Debt Op. Leases\n2020\n20212\nANNUALIZED DIVIDEND Dollars Per Share 2017\n2018\nADJUSTED RETURN ON INVESTED CAPITAL1\n5-Year Average 10% ROIC\n9.9%\n13.2%\n2017\n2018\n2019\n20192\n2020\n20202\n$1.90\n$2.00\n$2.05\n$2.05\n$1.853\n9.6%\n7.4%\n9.8%\n2022 WACC4 7%\n1: Data is inclusive of our former global papers business, which became a standalone, publicly traded company on October 1, 2021, and our former\nKwidzyn, Poland pulp and paper mill which was sold on August 6, 2021, except where indicated.\n2: Restated to exclude global printing papers business and sale of our pulp and paper mill in",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_revenue",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "net sales 19363m",
      "golden_context": "Page 12:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2021 2020\nFINANCIAL SUMMARY\nNet Sales $ 19,363 $ 17,565\nBusiness Segment Operating Profit 1,635 (a) 1,539 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity Earnings 999 (b) 329 (e)\nNet Earnings 1,754 (b-c) 482 (e-f)\nNet Earnings Attributable to Noncontrolling Interests 2 (d)—\nNet Earnings Attributable to International Paper Company 1,752 (b-d) 482 (e-f)\nTotal Assets 25,243 31,718\nTotal Shareholders’ Equity Attributable to International Paper Company 9,082 7,854\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.50 $ 1.23\nDiluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.47 $ 1.22\nCash Dividends 2.0000 2.0500\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,997 9,437\nShares Outstanding at December 31 378.6 393.1\nAverage Common Shares Outstanding 389.4 393.0\nAverage Common Shares Outstanding – Assuming Dilution 392.4 395.7\n(a) (b) (c) (d) (e) (f) See the comparison of net earnings (loss) from continuing operations attributable to International Paper Company to its total business\nsegment operating profit on page 25 and the operating profit table on page 89 for details of operating profit by business segment.\nIncludes pre-tax restructuring and other charges of $509 million including charges of $461 million for debt extinguishment costs, $29 million\nfor severance related to our Building a Better IP initiative, $12 million for severance related to the optimization of our EMEA Packaging\nbusiness and $7 million for other items. Also included is a gain of $204 million related to the monetization of our equity investment\nin Graphic Packaging, a charge of $32 million related to the fair value adjustment of our investment in Sylvamo Corporation, a loss of\n$21 million related to the impairment of real estate, a charge of $10 million for environmental remediation reserve adjustments, a gain of\n$7 million related to the sale of our EMEA Packaging business in Turkey, income of $5 million for a legal reserve adjustment and a charge\nof $14 million for other costs.\nIncludes a gain of $344 million related to the sale of our Kwidzyn, Poland mill, a charge of $92 million for costs associated with the spin-off\nof our Printing Papers business, a gain of $65 million related to the sale of our La Mirada, California distribution center, income of $37 million\nfor the accrual of a foreign value-added tax credit, including interest, which transferred to Sylvamo Corporation effective with the spin-off on\nOctober 1, 2021 and tax expense of $24 million for foreign and state taxes associated with the spin-off of our Printing Papers business.\nIncludes the allocation of income to noncontrolling interest of $1 million associated with the sale of our EMEA Packaging business in Turkey.\nIncludes pre-tax restructuring and other charges, net of $195 million including a charge of $196 million for debt extinguishment costs\nand income of $1 million for other items. Also included is a ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_revenue_growth",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 19363m, prior year: 17565m",
      "golden_context": "Page 12:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2021 2020\nFINANCIAL SUMMARY\nNet Sales $ 19,363 $ 17,565\nBusiness Segment Operating Profit 1,635 (a) 1,539 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity Earnings 999 (b) 329 (e)\nNet Earnings 1,754 (b-c) 482 (e-f)\nNet Earnings Attributable to Noncontrolling Interests 2 (d)—\nNet Earnings Attributable to International Paper Company 1,752 (b-d) 482 (e-f)\nTotal Assets 25,243 31,718\nTotal Shareholders’ Equity Attributable to International Paper Company 9,082 7,854\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.50 $ 1.23\nDiluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.47 $ 1.22\nCash Dividends 2.0000 2.0500\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,997 9,437\nShares Outstanding at December 31 378.6 393.1\nAverage Common Shares Outstanding 389.4 393.0\nAverage Common Shares Outstanding – Assuming Dilution 392.4 395.7\n(a) (b) (c) (d) (e) (f) See the comparison of net earnings (loss) from continuing operations attributable to International Paper Company to its total business\nsegment operating profit on page 25 and the operating profit table on page 89 for details of operating profit by business segment.\nIncludes pre-tax restructuring and other charges of $509 million including charges of $461 million for debt extinguishment costs, $29 million\nfor severance related to our Building a Better IP initiative, $12 million for severance related to the optimization of our EMEA Packaging\nbusiness and $7 million for other items. Also included is a gain of $204 million related to the monetization of our equity investment\nin Graphic Packaging, a charge of $32 million related to the fair value adjustment of our investment in Sylvamo Corporation, a loss of\n$21 million related to the impairment of real estate, a charge of $10 million for environmental remediation reserve adjustments, a gain of\n$7 million related to the sale of our EMEA Packaging business in Turkey, income of $5 million for a legal reserve adjustment and a charge\nof $14 million for other costs.\nIncludes a gain of $344 million related to the sale of our Kwidzyn, Poland mill, a charge of $92 million for costs associated with the spin-off\nof our Printing Papers business, a gain of $65 million related to the sale of our La Mirada, California distribution center, income of $37 million\nfor the accrual of a foreign value-added tax credit, including interest, which transferred to Sylvamo Corporation effective with the spin-off on\nOctober 1, 2021 and tax expense of $24 million for foreign and state taxes associated with the spin-off of our Printing Papers business.\nIncludes the allocation of income to noncontrolling interest of $1 million associated with the sale of our EMEA Packaging business in Turkey.\nIncludes pre-tax restructuring and other charges, net of $195 million including a charge of $196 million for debt extinguishment costs\nand income of $1 million for other items. Also included is a ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000392_segments",
      "report_id": "ID_000392",
      "company_name": "International Paper",
      "year": 2021,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Packaging and Global Cellulose Fibers",
      "golden_context": "Page 18:\n\nPART I.\nITEM 1. BUSINESS\nGENERAL\nInternational Paper Company (the \"Company\" or\n\"International Paper\", which may also be referred to\nas \"we\" or \"us\") is a global producer of renewable\nfiber-based packaging and pulp products with\nmanufacturing operations in North America, Latin\nAmerica, Europe and North Africa. We are a New\nYork corporation, incorporated in 1941 as the\nsuccessor to the New York corporation of the same\nname organized in 1898. You can learn more about\nus by visiting our website at\nwww.internationalpaper.com.\nIn the United States, at December 31, 2021, the\nCompany operated 24 pulp and packaging mills, 163\nconverting and packaging plants, 16 recycling plants\nand three bag facilities. Production facilities at\nDecember 31, 2021 in Canada, Europe, North Africa\nand Latin America included four pulp and packaging\nmills, 37 converting and packaging plants, and two\nrecycling plants. We operate a printing and packaging\nproducts distribution business principally through six\nbranches in Asia. Substantially all of our businesses\nhave experienced, and are likely to continue to\nexperience, cycles relating to industry capacity and\ngeneral economic conditions.\nFor management and financial reporting purposes,\nour businesses are separated into two segments:\nIndustrial Packaging and Global Cellulose Fibers.\nA description of these business segments can be\nfound on pages 28 and 29 of Item 7. Management’s\nDiscussion and Analysis of Financial Condition and\nResults of Operations. The Company’s equity interest\nin Ilim S.A. (\"Ilim\") is also a separate reportable\nindustry segment.\nOn October 1, 2021, we completed the previously\nannounced spin-off of our Printing Papers business\nalong with certain mixed-use coated paperboard and\npulp businesses in North America, France and Russia\ninto a standalone, publicly traded company, Sylvamo\nCorporation. See discussion on page 27 of Item 7.\nManagement's Discussion and Analysis of Financial\nCondition and Results of Operations and in Note 8\nDivestitures and Impairments of Businesses on page\n61 to 63 of Item 8. Financial Statements and\nSupplementary Data.\nFrom 2017 through 2021, International Paper’s\ncapital spending approximated $5.5 billion, excluding\nmergers and acquisitions. These expenditures reflect\nour continuing efforts to use our capital strategically\nto improve product quality and environmental\nperformance, as well as lower costs, maintain\nreliability of operations and strategic capital for\ncapacity expansion. Capital spending in 2021 was\napproximately $549 million and is expected to be\napproximately $1.1 billion in 2022. You can find more\ninformation about capital spending on pages 33 to 34\nof Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations.\nDiscussions of acquisitions can be found on page 32\nof Item 7. Management’s Discussion and Analysis of\nFinancial Condition and Results of Operations.\nYou can find discussions of restructuring charges and\nother special items on pages 28 of Item 7.\nManagement’s Discussion and Analysis of Financial\nCondition and Results of Operations.\nOur strategic framework, The IP Way Forward,\nensures that our business strategy delivers\nsustainable outcomes for all of our stakeholders –\nemployees, customers, suppliers, communities,\ngovernmental and non-governmental organizations\nand shareholders – for generations to come. Our\napproach to sustainability considers our entire value\nchain, from focusing on sourcing raw materials\nresponsibly and working safely, to making renewable,\nrecyclable products and providing a market for\nrecovered products. To help inform and prioritize the\nfocus of our sustainability strategy, we have engaged\nwith internal and external stakeholders using a variety\nof methods, assessed key issues and associated\nrisks and opportunities, and incorporated\nenvironmental, social and governance (ESG)\nconsiderations into our processes. Additionally, in\n2020, we established our Vision 2030 goals with the\npurpose of promoting healthy and abundant forests,\nthriving people and communities, sustainable\noperations and renewable solutions. Certain of the\ngoals are discussed in more detail below.\nThroughout this Annual Report on Form 10-K, we\n“incorporate by reference” certain information in parts\nof other documents filed with the Securities and\nExchange Commission (\"SEC\"). The SEC permits us\nto disclose important information by referring to it in\nthat manner. Please refer to such information. Our\nannual reports on Form 10-K, quarterly reports on\nForm 10-Q, current reports on Form 8-K and proxy\nstatements, along with all other reports and any\namendments thereto filed with or furnished to the\nSEC, are publicly available free of charge on the\nInvestor Relations section of our website at\nwww.internationalpaper.com as soon as reasonably\npracticable after we electronically file such material\nwith, or furnish it to, the SEC. Our internet address is",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_cash_flow",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "free cash flow 1.2bn",
      "golden_context": "Page 9:\n\nWe Deliver Value for Our Shareowners\nWe establish advantaged positions to serve in attractive market segments with\nsafe, efficient manufacturing operations near sustainable fiber sources.\nAdjusted Return On Invested Capital¹\n5-Year Average | 11% ROIC | 2022 WACC² 8%\nFree Cash Flow¹\nFree Cash Flow Cash to Shareowners (dividends, share repurchases)\n$2.3B\n$2.3B\n2018\n2019\n2020\n2021\n2022\n13.2%\n$1.7B\n$1.9B\n7.7%\n10.8%\n10.9%\n10.8%\nAnnualized Dividend (Dollars Per Share)\n$1.5B\n$1.6B\n$1.2B\n$1.5B\n$1.3B\n$0.8B\n2018\n2019\n2020\n2021\n2022\n¹ Historical data is inclusive of our Ilim joint venture, our former global\npapers business, which became a standalone, publicly traded company\non October 1, 2021, and our former Kwidzyn, Poland pulp and paper mill\nwhich was sold on August 6, 2021.\n² Weighted Average Cost of Capital\n3 Annualized dividend adjusted by 10% following spin-off of papers business.\n2018\n2019\n2020\n2021\n2022\nAdjusted Debt to EBITDA¹\n(Target 2.5–2.8x)\n$2.00\n$2.05\n$2.05\n$1.85 3\n$1.85\nPension Gap Balance Sheet Debt\n2.8x\n$10.7\n2.9x\n$9.8 2.9x\n$8.1\n2.4x\n$5.6\n2.1x\n$5.6\n$1.8\n$1.6 $1.1 $0.4\n$0.3\n2018 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_company_type",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\n12/31/2022\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from - to -\nCommission File No. 1-3157\nINTERNATIONAL PAPER COMPANY\n(Exact name of registrant as specified in its charter)\nNew York 13-0872805\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6400 Poplar Avenue\nMemphis, Tennessee\n(Address of principal executive offices)\n38197\n(Zip Code)\nRegistrant's telephone number, including area code: 901 419-9000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Shares IP New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ý No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ¨ No ý\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ý No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ý No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company\n☒ ☐ ☐ ☐ ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ý\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included\nin the filing reflect the correction of an error to previously issued financial statements. ¨\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_key_financials",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "ROIC: 10.8%, adjusted Debt to EBITDA: 2.1x, free cash flow: 1.2bn",
      "golden_context": "Page 9:\n\nWe Deliver Value for Our Shareowners\nWe establish advantaged positions to serve in attractive market segments with\nsafe, efficient manufacturing operations near sustainable fiber sources.\nAdjusted Return On Invested Capital¹\n5-Year Average | 11% ROIC | 2022 WACC² 8%\nFree Cash Flow¹\nFree Cash Flow Cash to Shareowners (dividends, share repurchases)\n$2.3B\n$2.3B\n2018\n2019\n2020\n2021\n2022\n13.2%\n$1.7B\n$1.9B\n7.7%\n10.8%\n10.9%\n10.8%\nAnnualized Dividend (Dollars Per Share)\n$1.5B\n$1.6B\n$1.2B\n$1.5B\n$1.3B\n$0.8B\n2018\n2019\n2020\n2021\n2022\n¹ Historical data is inclusive of our Ilim joint venture, our former global\npapers business, which became a standalone, publicly traded company\non October 1, 2021, and our former Kwidzyn, Poland pulp and paper mill\nwhich was sold on August 6, 2021.\n² Weighted Average Cost of Capital\n3 Annualized dividend adjusted by 10% following spin-off of papers business.\n2018\n2019\n2020\n2021\n2022\nAdjusted Debt to EBITDA¹\n(Target 2.5–2.8x)\n$2.00\n$2.05\n$2.05\n$1.85 3\n$1.85\nPension Gap Balance Sheet Debt\n2.8x\n$10.7\n2.9x\n$9.8 2.9x\n$8.1\n2.4x\n$5.6\n2.1x\n$5.6\n$1.8\n$1.6 $1.1 $0.4\n$0.3\n2018 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_revenue",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "21161m",
      "golden_context": "Page 13:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2022 2021\nFINANCIAL SUMMARY\nNet Sales $21,161 $19,363\nBusiness Segment Operating Profit 1,848 (a) 1,635 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity\nEarnings 1,511 (b) 999 (d)\nNet Earnings 1,504 (b-c) 1,754 (d-e)\nNet Earnings Attributable to Noncontrolling Interests— 2 (f)\nNet Earnings Attributable to International Paper Company 1,504 (b-c) 1,752 (d-f)\nTotal Assets 23,940 25,243\nTotal Shareholders’ Equity Attributable to International Paper Company 8,497 9,082\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.14 $ 4.50\nDiluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.10 $ 4.47\nCash Dividends 1.8500 2.0000\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,638 8,997\nShares Outstanding at December 31 350.3 378.6\nAverage Common Shares Outstanding 363.5 389.4\nAverage Common Shares Outstanding – Assuming Dilution 367.0 392.4\n(a) (b) (c) (d) See the comparison of net earnings (loss) from continuing operations attributable to International\nPaper Company to its total business segment operating profit on page 27 and the operating profit\ntable on page 90 for details of operating profit by business segment.\nIncludes net pre-tax restructuring charges of $89 million including a charge of $93 million for debt\nextinguishment costs and other income of $4 million. Also included is a charge of $76 million related\nto the impairment of goodwill in our EMEA Packaging business, a net gain of $65 million related to the\nmonetization of our investment in Sylvamo Corporation, a charge of $63 million for environmental\nremediation reserve adjustments, a charge of $58 million for interest related to the previously\nannounced settlement of the timber monetization restructuring tax matter, a charge of $11 million for a\nlitigation reserve, income of $15 million for a legal settlement, a loss of $10 million for the foreign\ncurrency cumulative translation adjustment related t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_revenue_growth",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "21161m, prior year 19363m",
      "golden_context": "Page 13:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2022 2021\nFINANCIAL SUMMARY\nNet Sales $21,161 $19,363\nBusiness Segment Operating Profit 1,848 (a) 1,635 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity\nEarnings 1,511 (b) 999 (d)\nNet Earnings 1,504 (b-c) 1,754 (d-e)\nNet Earnings Attributable to Noncontrolling Interests— 2 (f)\nNet Earnings Attributable to International Paper Company 1,504 (b-c) 1,752 (d-f)\nTotal Assets 23,940 25,243\nTotal Shareholders’ Equity Attributable to International Paper Company 8,497 9,082\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.14 $ 4.50\nDiluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 4.10 $ 4.47\nCash Dividends 1.8500 2.0000\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,638 8,997\nShares Outstanding at December 31 350.3 378.6\nAverage Common Shares Outstanding 363.5 389.4\nAverage Common Shares Outstanding – Assuming Dilution 367.0 392.4\n(a) (b) (c) (d) See the comparison of net earnings (loss) from continuing operations attributable to International\nPaper Company to its total business segment operating profit on page 27 and the operating profit\ntable on page 90 for details of operating profit by business segment.\nIncludes net pre-tax restructuring charges of $89 million including a charge of $93 million for debt\nextinguishment costs and other income of $4 million. Also included is a charge of $76 million related\nto the impairment of goodwill in our EMEA Packaging business, a net gain of $65 million related to the\nmonetization of our investment in Sylvamo Corporation, a charge of $63 million for environmental\nremediation reserve adjustments, a charge of $58 million for interest related to the previously\nannounced settlement of the timber monetization restructuring tax matter, a charge of $11 million for a\nlitigation reserve, income of $15 million for a legal settlement, a loss of $10 million for the foreign\ncurrency cumulative translation adjustment related t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000393_segments",
      "report_id": "ID_000393",
      "company_name": "International Paper",
      "year": 2022,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Packaging and Global Cellulose Fibers",
      "golden_context": "Page 21:\n\nPART I.\nITEM 1. BUSINESS\nGENERAL\nInternational Paper Company (the \"Company\" or\n\"International Paper\", which may also be referred to\nas \"we\" or \"us\") is a global producer of renewable\nfiber-based packaging and pulp products with\nmanufacturing operations in North America, Latin\nAmerica, Europe and North Africa. We are a New\nYork corporation, incorporated in 1941 as the\nsuccessor to the New York corporation of the same\nname organized in 1898. You can learn more about\nus by visiting our website at\nwww.internationalpaper.com.\nIn the United States, at December 31, 2022, the\nCompany operated 24 pulp and packaging mills, 164\nconverting and packaging plants, 16 recycling plants\nand three bag facilities. Production facilities at\nDecember 31, 2022 in Canada, Europe, North Africa\nand Latin America included four pulp and packaging\nmills, 37 converting and packaging plants, and two\nrecycling plants. We operate a printing and packaging\nproducts distribution business principally through six\nbranches in Asia. Substantially all of our businesses\nhave experienced, and are likely to continue to\nexperience, cycles relating to industry capacity and\ngeneral economic conditions.\nFor management and financial reporting purposes,\nour businesses are separated into two segments:\nIndustrial Packaging and Global Cellulose Fibers. A\ndescription of these business segments can be found\non pages 31 and 32 of Item 7. Management’s\nDiscussion and Analysis of Financial Condition and\nResults of Operations.\nThe Company recently announced it has reached an\nagreement to sell its equity investment in Ilim S.A.\n(\"Ilim\"), and has also received from the same\npurchaser an indication of interest to purchase its\nequity investment in JSC Ilim Group (\"Ilim Group\"\ntogether with Ilim, the Ilim joint venture). As a result,\nall current and historical results of the Ilim investment\nreportable segment are presented as Discontinued\nOperations, net of taxes. See discussion in Note 11 -\nEquity Method Investments on page 66 through 68 of\nItem 8. Financial Statements and Supplementary\nData.\nFrom 2018 through 2022, International Paper’s\ncapital spending approximated $5.0 billion, excluding\nmergers and acquisitions. These expenditures reflect\nour continuing efforts to use our capital strategically\nto improve product quality and environmental\nperformance, as well as lower costs, maintain\nreliability of operations and deploy strategic capital for\ncapacity expansion. Capital spending in 2022 was\napproximately $931 million and is expected to be\napproximately $1.0 billion to $1.2 billion in 2023. You\ncan find more information about capital spending on\npages 35 and 36 of Item 7. Management’s Discussion\nand Analysis of Financial Condition and Results of\nOperations.\nDiscussions of acquisitions can be found in Note 7\nAcquisitions on page 62 of Item 8. Financial\nStatements and Supplementary Data.\nYou can find discussions of restructuring charges and\nother special items on page 31 of Item 7.\nManagement’s Discussion and Analysis of Financial\nCondition and Results of Operations.\nOur strategic framework, The IP Way Forward,\nensures that our business strategy delivers\nsustainable outcomes for all of our stakeholders –\nemployees, customers, suppliers, communities,\ngovernmental and non-governmental organizations\nand shareholders – for generations to come. Our\napproach to sustainability considers our entire value\nchain, from focusing on sourcing raw materials\nresponsibly and working safely, to making renewable,\nrecyclable products and providing a market for\nrecovered products. To help inform and prioritize the\nfocus of our sustainability strategy, we have engaged\nwith internal and external stakeholders using a variety\nof methods, assessed key issues and associated\nrisks and opportunities, and incorporated\nenvironmental, social and governance (ESG)\nconsiderations into our processes. Additionally, in\n2020, we established our Vision 2030 goals with the\npurpose of promoting healthy and abundant forests,\nthriving people and communities, sustainable\noperations and renewable solutions. Certain of the\ngoals are discussed in more detail below.\nThroughout this Annual Report on Form 10-K, we\n“incorporate by reference” certain information in parts\nof other documents filed with the Securities and\nExchange Commission (\"SEC\"). The SEC permits us\nto disclose important information by referring to it in\nthat manner. Please refer to such information. Our\nannual reports on Form 10-K, quarterly reports on\nForm 10-Q, current reports o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_cash_flow",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 1833m, investing: -668m, financing: -866m",
      "golden_context": "Page 74:\n\nThe accompanying notes are an integral part of these financial statements.\n53\nCONSOLIDATED STATEMENT OF CASH FLOWS\nIn millions for the years ended December 31 2023 2022 2021\nOPERATING ACTIVITIES\nNet earnings (loss) $ 288 $ 1,504 $ 1,754\nDepreciation, amortization, and cost of timber harvested 1,432 1,040 1,210\nDeferred income tax provision (benefit), net (156) (773) (291)\nRestructuring and other charges, net 99 89 509\nPeriodic pension (income) expense, net 94 (116) (112)\nNet (gains) losses on mark to market investments — (65) 32\nNet (gains) losses on sales and impairments of businesses — 76 (358)\nNet (gains) losses on sales and impairments of equity method investments 153 543 (205)\nNet (gains) losses on sales of fixed assets — — (86)\nEquity method dividends received 13 204 159\nEquity (earnings) losses, net (108) (291) (313)\nOther, net 20 108 157\nChanges in current assets and liabilities\nAccounts and notes receivable 255 (59) (596)\nContract assets 48 (103) (49)\nInventories 73 (162) (263)\nAccounts payable and accrued liabilities (402) 110 519\nInterest payable (19) 41 (32)\nOther 43 28 (5)\nCASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES 1,833 2,174 2,030\nINVESTMENT ACTIVITIES\nInvested in capital projects, net of insurance recoveries (1,141) (931) (549)\nAcquisitions, net of cash acquired — — (80)\nProceeds from sales of equity method investments, net of transaction costs 472 — 908\nProceeds from sales of businesses, net of cash divested — — 827\nProceeds from exchange of equity securities — 311 —\nProceeds from settlement of Variable Interest Entities — — 4,850\nProceeds from sale of fixed assets 4 13 101\nOther (3) (1) (3)\nCASH PROVIDED BY (USED FOR) INVESTMENT ACTIVITIES (668) (608) 6,054\nFINANCING ACTIVITIES\nRepurchases of common stock and payments of restricted stock tax withholding (218) (1,284) (839)\nIssuance of debt 783 1,011 1,512\nReduction of debt (780) (1,017) (2,509)\nChange in book overdrafts (8) 1 65\nDividends paid (642) (673) (780)\nReduction of Variable Interest Entity loans — — (4,220)\nDistribution to Sylvamo Corporation — — (130)\nNet debt tender premiums paid — (89) (456)\nOther (1) (3) (18)\nCASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES (866) (2,054) (7,375)\nEffect of Exchange Rate Changes on Cash 10 (3) (9)\nChange in Cash and Temporary Investments 309 (491) 700\nCash and Temporary Investments\nBeginning of the period 804 1,295 595\nEnd of the period $ 1,113 $ 804 $ 1,295\nThe accompanying notes are an integral part of these financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_company_type",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Company",
      "golden_context": "Page 17:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWASHINGTON, D.C. 20549\nFORM 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended\n12/31/2023\nor\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from - to -\nCommission File No. 1-3157\nINTERNATIONAL PAPER COMPANY\n(Exact name of registrant as specified in its charter)\nNew York 13-0872805\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n6400 Poplar Avenue\nMemphis, Tennessee\n(Address of principal executive offices)\n38197\n(Zip Code)\nRegistrant's telephone number, including area code: 901 419-9000\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Trading symbol(s) Name of each exchange on which registered\nCommon Shares IP New York Stock Exchange\nSecurities Registered Pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ý No ¨\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ¨ No ý\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of\n1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to\nsuch filing requirements for the past 90 days. Yes ý No ¨\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was\nrequired to submit such files). Yes ý No ¨\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and\n\"emerging growth company\" in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company\n☒ ☐ ☐ ☐ ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with\nany new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. o\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its\ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting\nfirm that prepared or issued its audit report. ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ý\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included\nin the filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based\ncompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ¨",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_key_financials",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "net sales 18916m, net earnings: 288m, diluted EPS: 0.82",
      "golden_context": "Page 15:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2023 2022\nFINANCIAL SUMMARY\nNet Sales $ 18,916 $ 21,161\nBusiness Segment Operating Profit 1,249 (a) 1,848 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity Earnings 382 (b) 1,511 (d)\nNet Earnings 288 (b-c) 1,504 (d-e)\nTotal Assets 23,261 23,940\nTotal Shareholders’ Equity Attributable to International Paper Company 8,355 8,497\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders Diluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 0.83 $ 4.14\n$ 0.82 $ 4.10\nCash Dividends 1.8500 1.8500\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,236 8,638\nShares Outstanding at December 31 346.0 350.3\nAverage Common Shares Outstanding 346.9 363.5\nAverage Common Shares Outstanding – Assuming Dilution 349.1 367.0\n(a) (b) (c) (d) (e) See the comparison of net earnings (loss) from continuing operations attributable to International Paper Company to its total business segment operating profit on\npage 31 and the operating profit table on page 91 for details of operating profit by business segment.\nIncludes net pre-tax restructuring charges of $118 million for costs associated with the permanent closure of our containerboard mill in Orange, Texas and the\npermanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills and pre-tax income of $19 million for the revision of\nseverance estimates related to our Build a Better IP initiative. Also included is a charge of $422 million for accelerated depreciation associated with the permanent\nclosure of our containerboard mill in Orange, Texas and the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida\nmills, charges of $36 million for environmental remediation reserve adjustments and income of $3 million for interest associated with the previously announced\nsettlement of the timber monetization restructuring tax matter.\nIncludes a charge of $135 million for impairment and transaction costs related to our former equity method investment in the Ilim joint venture, a charge of $18\nmillion for the other-than-temporary impairment of an equity method investment, a tax benefit of $23 million related to the settlement of tax audits and tax expense\nof $4 million related to internal legal entity restructuring.\nIncludes net pre-tax restructuring charges of $89 million including a charge of $93 million for debt extinguishment costs and other income of $4 million. Also\nincluded is a charge of $76 million related to the impairment of goodwill in our EMEA Packaging business, a net gain of $65 million related to the monetization\nof our investment in Sylvamo Corporation, a charge of $63 million for environmental remediation reserve adjustments, a charge of $58 million for interest related\nto the previously announced settlement of the timber monetization restructuring tax matter, a charge of $11 million for a litigation reserve, income of $15 million\nfor a legal settlement, a loss of $10 million for the foreign currency cumulative translation adjustment related to the sale of an equity method investment and a\ncharge of $6 million for other costs.\nIncludes a charge of $533 million for the impairment of our equity method investment in connection with our announced plan to sell our interest in the Ilim joint\nventure, a tax benefit of $604 million related to the previously announced settlement of the timber monetization restructuring tax matter, a tax benefit of $66\nmillion related to the tax-free exchange of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_revenue",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "18916m",
      "golden_context": "Page 15:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2023 2022\nFINANCIAL SUMMARY\nNet Sales $ 18,916 $ 21,161\nBusiness Segment Operating Profit 1,249 (a) 1,848 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity Earnings 382 (b) 1,511 (d)\nNet Earnings 288 (b-c) 1,504 (d-e)\nTotal Assets 23,261 23,940\nTotal Shareholders’ Equity Attributable to International Paper Company 8,355 8,497\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders Diluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 0.83 $ 4.14\n$ 0.82 $ 4.10\nCash Dividends 1.8500 1.8500\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,236 8,638\nShares Outstanding at December 31 346.0 350.3\nAverage Common Shares Outstanding 346.9 363.5\nAverage Common Shares Outstanding – Assuming Dilution 349.1 367.0\n(a) (b) (c) (d) (e) See the comparison of net earnings (loss) from cont",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_revenue_growth",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "18916m, prior year: 21161m",
      "golden_context": "Page 15:\n\nFINANCIAL HIGHLIGHTS\nIn millions, except per share amounts, at December 31 2023 2022\nFINANCIAL SUMMARY\nNet Sales $ 18,916 $ 21,161\nBusiness Segment Operating Profit 1,249 (a) 1,848 (a)\nEarnings from Continuing Operations Before Income Taxes and Equity Earnings 382 (b) 1,511 (d)\nNet Earnings 288 (b-c) 1,504 (d-e)\nTotal Assets 23,261 23,940\nTotal Shareholders’ Equity Attributable to International Paper Company 8,355 8,497\nPER SHARE OF COMMON STOCK\nBasic Earnings Per Share Attributable to International Paper Company\nCommon Shareholders Diluted Earnings Per Share Attributable to International Paper Company\nCommon Shareholders $ 0.83 $ 4.14\n$ 0.82 $ 4.10\nCash Dividends 1.8500 1.8500\nSHAREHOLDER PROFILE\nShareholders of Record at December 31 8,236 8,638\nShares Outstanding at December 31 346.0 350.3\nAverage Common Shares Outstanding 346.9 363.5\nAverage Common Shares Outstanding – Assuming Dilution 349.1 367.0\n(a) (b) (c) (d) (e) See the comparison of net earnings (loss) from continuing operations attributable to International Paper Company to its total business segment operating profit on\npage 31 and the operating profit table on page 91 for details of operating profit by business segment.\nIncludes net pre-tax restructuring charges of $118 million for costs associated with the permanent closure of our containerboard mill in Orange, Texas and the\npermanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills and pre-tax income of $19 million for the revision of\nseverance estimates related to our Build a Better IP initiative. Also included is a charge of $422 million for accelerated depreciation associated with the permanent\nclosure of our containerboard mill in Orange, Texas and the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida\nmills, charges of $36 million for environmental remediation reserve adjustments and income of $3 million for interest associated with the previously announced\nsettlement of the timber monetization restructuring tax matter.\nIncludes a charge of $135 million for impairment and transaction costs related to our former equity method investment in the Ilim joint venture, a charge of $18\nmillion for the other-than-temporary impairment of an equity method investment, a tax benefit of $23 million related to the settlement of tax audits and tax expense\nof $4 million related to internal legal entity restructuring.\nIncludes net pre-tax restructuring charges of $89 million including a charge of $93 million for debt extinguishment costs and other income of $4 million. Also\nincluded is a charge of $76 million related to the impairment of goodwill in our EMEA Packaging business, a net gain of $65 million related to the monetization\nof our investment in Sylvamo Corporation, a charge of $63 million for environmental remediation reserve adjustments, a charge of $58 million for interest related\nto the previously announced settlement of the timber monetization restructuring tax matter, a charge of $11 million for a litigation reserve, income of $15 million\nfor a legal settlement, a loss of $10 million for the foreign currency cumulative translation adjustment related to the sale of an equity method investment and a\ncharge of $6 million for other costs.\nIncludes a charge of $533 million for the impairment of our equity method investment in connection with our announced plan to sell our interest in the Ilim joint\nventure, a tax benefit of $604 million related to the previously announced settlement of the timber monetization restructuring tax matter, a tax benefit of $66\nmillion related to the tax-free exchange of",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000394_segments",
      "report_id": "ID_000394",
      "company_name": "International Paper",
      "year": 2023,
      "country": "US",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Industrial Packaging and Global Cellulose Fibers",
      "golden_context": "Page 21:\n\nITEM 1. BUSINESS\nGENERAL\nInternational Paper Company (the \"Company,\"\n\"International Paper\" or \"IP\", which may also be\nreferred to as \"we\" or \"us\") is a global producer of\nrenewable fiber-based packaging and pulp products\nwith manufacturing operations in North America, Latin\nAmerica, Europe and North Africa. We are a New\nYork corporation, incorporated in 1941 as the\nsuccessor to the New York corporation of the same\nname organized in 1898. You can learn more about\nus by visiting our website at\nwww.internationalpaper.com.\nIn the United States, at December 31, 2023, the\nCompany operated 23 pulp and packaging mills, 162\nconverting and packaging plants, 16 recycling plants\nand three bag facilities. Production facilities at\nDecember 31, 2023 in Canada, Europe, North Africa\nand Latin America included four pulp and packaging\nmills, 37 converting and packaging plants, and two\nrecycling plants. We operate a packaging products\ndistribution business principally through six branches\nin Asia. Substantially all of our businesses have\nexperienced, and are likely to continue to experience,\ncycles relating to industry capacity and general\neconomic conditions.\nWe are guided by our core values. We do the right\nthings, in the right ways, for the right reasons, all of\nthe time – this is The IP Way. Our overarching values\nare safety, ethics, and stewardship.\n• Safety – Above all, we care about people. We\nlook out for each other to ensure everyone\nreturns home safely each day.\n• Ethics – We act honestly and operate with\nintegrity and respect. We promote a culture of\nopenness and accountability.\n• Stewardship – We are responsible stewards\nof people and communities, natural resources\nand capital. We strive to leave everything in\nbetter shape for future generations.\n• Think the Customer – We will deliver on Our\nCustomer Promise to do the right things for\nour customers, at every moment, in every\nexperience.\n• Include and Engage – We strive to build a\nculture in which each employee feels a sense\nof belonging and experiences an environment\nin which to do their best work every day.\nFor management and financial reporting purposes,\nour businesses are separated into two segments:\nIndustrial Packaging and Global Cellulose Fibers. A\ndescription of these business segments can be found\non pages 35 and 36 of Item 7. Management’s\nDiscussion and Analysis of Financial Condition and\nResults of Operations.\nOn September 18, 2023, we completed the previously\nannounced sale of our 50% equity interest in Ilim S.A.\n(\"Ilim\"), which was a joint venture that operated a pulp\nand paper business in Russia and has subsidiaries\nincluding Ilim Group. We also completed the sale of\nall of our Ilim Group shares (constituting a 2.39%\nstake) and divested other non-material residual\ninterests associated with Ilim. Following the\ncompleted sales, we no longer have an interest in Ilim\nor any of its subsidiaries, and no longer have any\ninvestments in Russia. As a result, all current and\nhistorical results of the Ilim investment reportable\nsegment are presented as Discontinued Operations,\nnet of taxes. See discussion in Note 11 - Equity\nMethod Investments on pages 69 and 70 of Item 8.\nFinancial Statements and Supplementary Data.\nFollowing our public announcement on October 18,\n2023, the Company permanently closed its\ncontainerboard mill in Orange, Texas on December 4,\n2023 and permanently ceased production on two of\nits pulp machines at its Riegelwood, North Carolina\nand Pensacola, Florida mills on December 11, 2023.\nThe mill closure resulted in pre-tax non-cash asset\nwrite-off and accelerated depreciation charges of\napproximately $347 million and pre-tax cash\nseverance and other shutdown charges of\napproximately $81 million. The machine shutdowns\nresulted in pre-tax non-cash asset write-off and\naccelerated depreciation charges of approximately\n$75 million and pre-tax cash severance and other\nshutdown charges of approximately $37 million. The\nCompany recorded these charges in the fourth\nquarter of 2023.\nFrom 2019 through 2023, International Paper’s\ncapital spending approximated $4.6 billion, excluding\nmergers and acquisitions. These expenditures reflect\nour continuing efforts to use our capital strategically\nto improve product quality and environmental\nperformance, as well as lower costs, maintain\nreliability of operations and deploy strategic capital for\ncapacity expansion. Capital spending in 2023 was\napproximately $1.1 billion and is expected to be\napproximately $800 million to $1.0 billion in 2024. You\ncan find more information about capital spending on\npage 39 of Item 7. Management’s Discussion and\nAnalysis of Financial Condition and Results of\nOperations.\nDiscussions of acquisitions can be found in Note 7\nAcquisitions on page 65 of Item 8. Financial\nStatements and Supplementary Data.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_cash_flow",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1743549k, investing: -1344640k, financing: -780112k",
      "golden_context": "Page 40:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYear Ended December 31,\n(in thousands) 2021 2020 2019\nCash flows from operating activities:\nNet income $ 1,725,416 $ 313,537 $ 221,809\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 547,352 116,566 100,038\nAmortization of debt discount, premium and issuance costs 3,869 3,508 3,880\nLoss on extinguishment of debt 3,027 6,700 8,189\nDeferred income taxes (34,573) 16,614 50,994\nStock-based compensation expense 31,486 17,022 12,239\nNet gain on sales of assets and asset impairments (32,421) (1,067) (949)\nChanges in assets and liabilities, net of assets acquired and liabilities assumed:\nReceivables (453,911) (246,912) 45,687\nInventories (282,165) (220,101) 44,202\nContract assets (103,326) (12,631) (2,898)\nOther current assets (33,489) (19,743) 4,674\nOther assets and liabilities (1,155) 50,370 1,611\nAccounts payable 191,885 160,947 4,070\nAccrued liabilities 91,419 55,361 7,004\nContract liabilities 90,135 19,896 3,496\nNet cash provided by operating activities 1,743,549 260,067 504,046\nCash flows from investing activities:\nCash used for acquisitions, net of cash acquired (1,206,471) (32,643) (92,855)\nProceeds from divestiture of business 76,162 — —\nPurchases of property, plant and equipment (227,891) (112,082) (112,870)\nProceeds from sale of property, plant and equipment 13,560 8,500 6,545\nNet cash used in investing activities (1,344,640) (136,225) (199,180)\nCash flows from financing activities:\nBorrowings under revolving credit facility 3,125,000 891,000 1,040,000\nRepayments under revolving credit facility (2,612,000) (843,000) (1,192,000)\nProceeds from long-term debt and other loans 1,000,000 895,625 478,375\nRepayments of long-term debt and other loans (554,677) (618,542) (610,834)\nPayments of debt extinguishment costs (4,950) (22,686) (2,301)\nPayments of loan costs (19,450) (13,800) (8,618)\nExercise of stock options 726 1,424 4,873\nRepurchase of common stock (1,714,761) (4,153) (10,392)\nNet cash (used in) provided by financing activities (780,112) 285,868 (300,897)\nNet change in cash and cash equivalents (381,203) 409,710 3,969\nCash and cash equivalents at beginning of period 423,806 14,096 10,127\nCash and cash equivalents at end of period $ 42,603 $ 423,806 $ 14,096\nSupplemental disclosures of cash flow information:\nCash paid for interest (1) $ 105,570 $ 110,600 $ 100,354\nCash paid for income taxes 633,060 43,400 18,107\nSupplemental disclosures of non-cash activities:\nNon-cash consideration for the BMC Merger $ 3,658,362 $ — $ —\nAccrued purchases of property, plant and equipment 8,052 1,962 3,378\nRight-of-use assets obtained in exchange for operating lease obligations 64,939 42,606 86,373\nAssets acquired under finance lease obligations 1,644 16,964 16,462\nAmounts accrued for repurchases of common stock 51,545 — —\n(1) Includes $5.0 million, $22.7 million and $2.3 million of debt extinguishment costs paid in 2021, 2020, and 2019, respectively,\nclassified as financing outflows above and discussed more fully in Note 8.\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_company_type",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2021\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-40620\nBUILDERS FIRSTSOURCE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 52-2084569\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n2001 Bryan Street, Suite 1600\nDallas, Texas 75201\n(Address of principal executive offices) (Zip Code)\nRegistrant’s telephone number, including area code:\n(214) 880-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common stock, par value $0.01 per share Trading Symbol(s) BLDR Securities registered pursuant to Section 12(g) of the Act:\nNone\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nYes ☑ No ☐\nLarge accelerated filer ☑ Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding\n12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§\n232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth\ncompany. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nSmaller reporting\ncompany ☐\nAccelerated filer ☐ Non-accelerated filer ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant as of June 30, 2021 was approxima",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_key_financials",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 19893856k, net income 1725416k, net income per share basic 8.55",
      "golden_context": "Page 37:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts) 2021 2020 2019\nNet sales $ 19,893,856 $ 8,558,874 $ 7,280,431\nCost of sales 14,042,900 6,336,290 5,303,602\nGross margin 5,850,956 2,222,584 1,976,829\nSelling, general and administrative expenses 3,463,532 1,678,730 1,584,523\nIncome from operations 2,387,424 543,854 392,306\nInterest expense, net 135,877 135,688 109,551\nIncome before income taxes 2,251,547 408,166 282,755\nIncome tax expense 526,131 94,629 60,946\nNet income $ 1,725,416 $ 313,537 $ 221,809\nNet income per share:\nBasic Diluted $ 8.55 $ 2.69 $ 1.92\n$ 8.48 $ 2.66 $ 1.90\nWeighted average common shares:\nBasic 201,839 116,611 115,713\nDiluted 203,470 117,917 117,025\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_revenue",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 19893856k",
      "golden_context": "Page 37:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts) 2021 2020 2019\nNet sales $ 19,893,856 $ 8,558,874 $ 7,280,431\nCost of sales 14,042,900 6,336,290 5,303,602\nGross margin 5,850,956 2,222,584 1,976,829\nSelling, general and administrative expenses 3,463,532 1,678,730 1,584,523\nIncome from operations 2,387,424 543,854 392,306\nInterest expense, net 135,877 135,688 109,551\nIncome before income taxes 2,251,547 408,166 282,755\nIncome tax expense 526,131 94,629 60,946\nNet income $ 1,725,416 $ 313,537 $ 221,809\nNet income per share:\nBasic Diluted $ 8.55 $ 2.69 $ 1.92\n$ 8.48 $ 2.66 $ 1.90\nWeighted average common shares:\nBasic 201,839 116,611 115,713\nDiluted 203,470 117,917 117,025\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_revenue_growth",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 19893856k, prior year: 8558874k",
      "golden_context": "Page 37:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts) 2021 2020 2019\nNet sales $ 19,893,856 $ 8,558,874 $ 7,280,431\nCost of sales 14,042,900 6,336,290 5,303,602\nGross margin 5,850,956 2,222,584 1,976,829\nSelling, general and administrative expenses 3,463,532 1,678,730 1,584,523\nIncome from operations 2,387,424 543,854 392,306\nInterest expense, net 135,877 135,688 109,551\nIncome before income taxes 2,251,547 408,166 282,755\nIncome tax expense 526,131 94,629 60,946\nNet income $ 1,725,416 $ 313,537 $ 221,809\nNet income per share:\nBasic Diluted $ 8.55 $ 2.69 $ 1.92\n$ 8.48 $ 2.66 $ 1.90\nWeighted average common shares:\nBasic 201,839 116,611 115,713\nDiluted 203,470 117,917 117,025\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000395_segments",
      "report_id": "ID_000395",
      "company_name": "Builders FirstSource",
      "year": 2021,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Supplier and manufacturer of building materials, manufactured components and construction services. One reportable segment.",
      "golden_context": "Page 3:\n\nWe are a leading supplier and manufacturer of building materials, manufactured components and construction services to professional homebuilders,\nsub-contractors, remodelers and consumers. The Company operates approximately 565 locations in 42 states across the United States, which are internally\norganized into geographic operating divisions. Due to the similar economic characteristics, categories of products, distribution methods and customers, our\noperating divisions are aggregated into one reportable segment.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_cash_flow",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 3599231k, investing: -957479k, financing: -2603910k",
      "golden_context": "Page 39:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYear Ended December 31,\n(in thousands) 2022 2021 2020\nCash flows from operating activities:\nNet income $ 2,749,369 $ 1,725,416 $ 313,537\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 497,140 547,352 116,566\nAmortization of debt discount, premium and issuance costs 4,837 3,869 3,508\nLoss on extinguishment of debt 27,387 3,027 6,700\nDeferred income taxes (92,461 ) (34,573 ) 16,614\nStock-based compensation expense 31,337 31,486 17,022\nBad debt expense 38,921 20,451 4,720\nNet gain on sales of assets and asset impairments (1,965 ) (32,421 ) (1,067 )\nChanges in assets and liabilities, net of assets acquired and liabilities assumed:\nReceivables 381,223 (474,362 ) (251,632 )\nInventories 271,889 (282,165 ) (220,101 )\nContract assets 24,051 (103,326 ) (12,631 )\nOther current assets 15,173 (33,489 ) (19,743 )\nOther assets and liabilities 15,189 (1,155 ) 50,370\nAccounts payable (314,004 ) 191,885 160,947\nAccrued liabilities (15,766 ) 91,419 55,361\nContract liabilities\n(33,089 )\n90,135\n19,896\nNet cash provided by operating activities\n3,599,231\n1,743,549\n260,067\nCash flows from investing activities:\nCash used for acquisitions, net of cash acquired (628,014 ) (1,206,471 ) (32,643 )\nProceeds from divestiture of business\n—\n76,162\n—\nPurchases of property, plant and equipment (340,152 ) (227,891 ) (112,082 )\nProceeds from sale of property, plant and equipment\n10,687\n13,560\n8,500\nNet cash used in investing activities\n(957,479 )\n(1,344,640 )\n(136,225 )\nCash flows from financing activities:\nBorrowings under revolving credit facility 5,881,000 3,125,000 891,000\nRepayments under revolving credit facility (6,205,000 ) (2,612,000 ) (843,000 )\nProceeds from long-term debt and other loans 1,001,500 1,000,000 895,625\nRepayments of long-term debt and other loans (616,222 ) (554,677 ) (618,542 )\nPayments of debt extinguishment costs (20,672 ) (4,950 ) (22,686 )\nPayments of loan costs (16,797 ) (19,450 ) (13,800 )\nExercise of stock options 589 726 1,424\nRepurchase of common stock\n(2,628,308 )\n(1,714,761 )\n(4,153 )\nNet cash (used in) provided by financing activities\n(2,603,910 )\n(780,112 )\n285,868\nNet change in cash and cash equivalents 37,842 (381,203 ) 409,710\nCash and cash equivalents at beginning of period\n42,603\n423,806\n14,096\nCash and cash equivalents at end of period\n$ 80,445\n$ 42,603\n$ 423,806\nSupplemental disclosures of cash flow information:\nCash paid for interest $ 169,390 $ 105,570 $ 110,600\nCash paid for income taxes 936,424 633,060 43,400\nSupplemental disclosures of non-cash activities:\nNon-cash consideration for the BMC Merger $ —\n$ 3,658,362 $ —\nAccrued purchases of property, plant and equipment 10,797 8,052 1,962\nRight-of-use assets obtained in exchange for operating lease obligations 100,843 64,939 42,606\nAssets acquired under finance lease obligations\n—\n1,644 16,964\nAmounts accrued for repurchases of common stock 44,447 51,545\n—\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_company_type",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-40620\nBUILDERS FIRSTSOURCE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 52-2084569\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n2001 Bryan Street, Suite 1600\nDallas, Texas\n(Address of principal executive offices) 75201\n(Zip Code)\nRegistrant’s telephone number, including area code:\n(214) 880-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common stock, par value $0.01 per share Trading Symbol(s) BLDR Securities registered pursuant to Section 12(g) of the Act:\nNone\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑\nAccelerated filer ☐\nNon-accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction\nof an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant as of June 30, 2022 was approximately $8,478.4 million based on the closing\nprice per share on that date of $53.70 as reported on the New York Stock Exchange.\nThe number of shares of the registrant’s common stock, par value $0.01, outstanding as of Feb 23, 2023 was 138,012,302.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the registrant’s definitive proxy statement for its annual meeting of stockholders to be held on June 14, 2023 are incorporated by reference into Part II and Part III of this\nForm 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_key_financials",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net income 2749369k, net income per share: 16.98",
      "golden_context": "Page 46:\n\nNet Income per Common Share\nNet income per common share, or earnings per share (“EPS”), is calculated in accordance with the Earnings per Share topic of the Codification, which\nrequires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period.\nDiluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common\nshares.\nThe table below presents the calculation of basic and diluted EPS for the years ended December 31:\n2022\nNumerator:\nNet income Years Ended December 31,\n2021\n(in thousands, except per share amounts)\n2020\n$ 2,749,369 $ 1,725,416 $ 313,537\nDenominator:\nWeighted average shares outstanding, basic 161,960 201,839 116,611\nDilutive effect of options and RSUs\nWeighted average shares outstanding, diluted\n1,521\n163,481\n1,631\n203,470\n1,306\n117,917\nNet income per share:\nBasic\nDiluted\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n$ 2.69\n$ 2.66\nAntidilutive and contingent RSUs excluded from diluted EPS\n99\n225\n291Net Income per Common Share\nNet income per common share, or earnings per share (“EPS”), is calculated in accordance with the Earnings per Share topic of the Codification, which\nrequires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period.\nDiluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common\nshares.\nThe table below presents the calculation of basic and diluted EPS for the years ended December 31:\n2022\nNumerator:\nNet income Years Ended December 31,\n2021\n(in thousands, except per share amounts)\n2020\n$ 2,749,369 $ 1,725,416 $ 313,537\nDenominator:\nWeighted average shares outstanding, basic 161,960 201,839 116,611\nDilutive effect of options and RSUs\nWeighted average shares outstanding, diluted\n1,521\n163,481\n1,631\n203,470\n1,306\n117,917\nNet income per share:\nBasic\nDiluted\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n$ 2.69\n$ 2.66\nAntidilutive and contingent RSUs excluded from diluted EPS\n99\n225\n291",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_revenue",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "22726418k",
      "golden_context": "Page 37:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts)\n2022 2021 2020\nNet sales $ 22,726,418 $ 19,893,856 $ 8,558,874\nCost of sales 14,982,039 14,042,900 6,336,290\nGross margin 7,744,379 5,850,956 2,222,584\nSelling, general and administrative expenses 3,974,173 3,463,532 1,678,730\nIncome from operations 3,770,206 2,387,424 543,854\nInterest expense, net 198,373 135,877 135,688\nIncome before income taxes 3,571,833 2,251,547 408,166\nIncome tax expense 822,464 526,131 94,629\nNet income\n$ 2,749,369\n$ 1,725,416\n$ 313,537\nNet income per share:\nBasic\nDiluted\nWeighted average common shares:\nBasic\nDiluted\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n$ 2.69\n$ 2.66\n161,960\n163,481\n201,839\n203,470\n116,611\n117,917\nThe accompanying notes are an integral part of these consolidated financial statemen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_revenue_growth",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "22726418k, 19893856k",
      "golden_context": "Page 37:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENT OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts)\n2022 2021 2020\nNet sales $ 22,726,418 $ 19,893,856 $ 8,558,874\nCost of sales 14,982,039 14,042,900 6,336,290\nGross margin 7,744,379 5,850,956 2,222,584\nSelling, general and administrative expenses 3,974,173 3,463,532 1,678,730\nIncome from operations 3,770,206 2,387,424 543,854\nInterest expense, net 198,373 135,877 135,688\nIncome before income taxes 3,571,833 2,251,547 408,166\nIncome tax expense 822,464 526,131 94,629\nNet income\n$ 2,749,369\n$ 1,725,416\n$ 313,537\nNet income per share:\nBasic\nDiluted\nWeighted average common shares:\nBasic\nDiluted\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n$ 2.69\n$ 2.66\n161,960\n163,481\n201,839\n203,470\n116,611\n117,917\nThe accompanying notes are an integral part of these consolidated financial statemen",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000396_segments",
      "report_id": "ID_000396",
      "company_name": "Builders FirstSource",
      "year": 2022,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "supplier and manufacturer of building materials, manufactured components and construction services. One reportable segment",
      "golden_context": "Page 3:\n\ntem 1. Business\nCAUTIONARY STATEMENT\nStatements in this report and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements\nabout expected market share gains, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies\nfor the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned\nnot to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst\ncommunities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. All forward-looking statements are\nbased upon currently available information and the Company’s current assumptions, expectations and projections about future events. Forward-looking\nstatements are by nature inherently uncertain, and actual results or events may differ materially from the results or events described in the forward-looking\nstatements as a result of many factors. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of\nnew information, future events or otherwise. Any forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control\nor may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the forward-\nlooking statements, including risks or uncertainties related to the Company’s other acquisitions, the Company’s growth strategies, including gaining market share\nand its digital strategies, or the Company’s revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber\nprices and the economy, including labor and supply shortages. The Company may not succeed in addressing these and other risks. Further information regarding\nthe risk factors that could affect our financial and other results are included as Item 1A of this annual report on Form 10-K and may also be described from time\nto time in the other reports the Company files with the Securities and Exchange Commission (“SEC”). Consequently, all forward-looking statements in this\nreport are qualified by the factors, risks and uncertainties contained therein.\nOVERVIEW\nWe are a leading supplier and manufacturer of building materials, manufactured components and construction services to professional homebuilders, sub-\ncontractors, remodelers and consumers. The Company operates 569 locations in 42 states across the United States, which are internally organized into\ngeographic operating divisions. Due to the similar economic characteristics, categories of products, distribution methods and customers, our operating divisions\nare aggregated into one reportable segment.\nWe offer an integrated solution to our customers by providing manufacturing, supply and installation of a full range of structural and related building\nproducts. Our manufactured products include our factory-built roof and floor trusses, wall panels, vinyl windows, custom millwork and trim, as well as\nengineered wood that we design, cut, and assemble specifically for each home. We also assemble interior and exterior doors into pre-hung units. Additionally, we\nsupply our customers with a broad offering of professional grade building products not manufactured by us, such as dimensional lumber and lumber sheet goods\nand various window, door and millwork lines. Our full range of construction-related services include professional installation, turn-key framing and shell\nconstruction, spanning all of our product categories. Further, through our Paradigm subsidiary, we offer software solutions and services for the building products\nindustry.\nBuilders FirstSource, Inc. is a Delaware corporation formed in 1998 as BSL Holdings, Inc. On October 13, 1999, our name changed to Builders\nFirstSource, Inc. Our common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “BLDR”\n.\nOUR INDUSTRY\nWe operate in the professional segment (“Pro Seg",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_cash_flow",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Cash provided by operating activities was 2.3bn, investing: -668293k, financing: -1652868k",
      "golden_context": "Page 32:\n\nFlows\nA discussion regarding our consolidated cash flows for the year ended December 31, 2023, compared to the year ended December 31, 2022, is presented\nbelow. A discussion regarding our consolidated cash flows for the year ended December 31, 2022, compared to the year ended December 31, 2021, can be found\nunder Item 7 of Part II of our Annual Report on Form 10-K filed with the SEC on February 28, 2023.\n2023 Compared with 2022\nCash provided by operating activities was $2.3 billion in 2023 compared to cash provided by operating activities of $3.6 billion in 2022. The decrease in\ncash provided by operating activities was largely the result of a decrease in net income in 2023 of $1.2 billion.\nFor the year ended December 31, 2023, compared to the prior year ended December 31, 2022, the Company used cash to invest $0.3 billion less,\nprimarily due to $0.4 billion less spent on acquisitions, offset by $0.1 billion more as a net investment in property, plant and equipment.\nCash used in financing activities was $1.7 billion in 2023 which consisted primarily of $1.8 billion in repurchases of common stock, partially offset by\n$0.2 billion in net borrowings on the Revolving facility. Cash used in financing activities was $2.6 billion for 2022 which consisted primarily of $2.6 billion in\nrepurchases of common stock, $0.6 billion to redeem the outstanding 6.75% senior secured notes due 2027 (“2027 notes”), and net paydowns on the Revolving\nfacility of $0.3 billion, offset by net proceeds from the issuance of $0.7 billion of 6.375% senior unsecured notes due 2032 (“6.375% 2032 notes”) and the\nissuance $0.3 billion of 4.25% senior unsecured notes due 2032 (“4.25% 2032 notes,\n” and together with the 6.375% 2032 notes, the “2032 notes”).\nThese transactions are described in Note 8 to the consolidated financial statements included in Item 8 of this annual report on Form 10-K.\nCapital Expenditures\nCapital expenditures vary depending on prevailing business factors, including current and anticipated market conditions. Historically, capital\nexpenditures have, for the most part, remained at relatively low levels in comparison to the operating cash flows generated during the corresponding periods. We\nexpect our 2024 capital expenditures to be in the range of $400 million to $500 million primarily related to rolling stock, equipment and facility expansion and\nimprovements to support our operations.\n\nPage 40:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYear Ended December 31,\n(in thousands) 2023 2022 2021\nCash flows from operating activities:\nNet income $ 1,540,555 $ 2,749,369 $ 1,725,416\nAdjustments to reconcile net income to net cash provided by operating activities:\nDepreciation and amortization 558,275 497,140 547,352\nAmortization of debt discount, premium and issuance costs 4,685 4,837 3,869\nLoss on extinguishment of debt 728 27,387 3,027\nDeferred income taxes (102,461 ) (92,461 ) (34,573 )\nStock-based compensation expense 48,522 31,337 31,486\nCredit loss expense (11,488 ) 38,921 20,451\nNon-cash net gain on assets (7,072 ) (1,965 ) (32,421 )\nChanges in assets and liabilities, net of assets acquired and liabilities assumed:\nReceivables (12,641 ) 381,223 (474,362 )\nInventories 231,457 271,889 (282,165 )\nContract assets 18,023 24,051 (103,326 )\nOther current assets 10,941 15,173 (33,489 )\nOther assets and liabilities (5,311 ) 15,189 (1,155 )\nAccounts payable 75,750 (314,004 ) 191,885\nAccrued liabilities (9,704 ) (15,766 ) 91,419\nContract liabilities (33,387 ) (33,089 ) 90,135\nNet cash provided by operating activities 2,306,872 3,599,231 1,743,549\nCash flows from investing activities:\nCash used for acquisitions, net of cash acquired (238,673 ) (628,014 ) (1,206,471 )\nProceeds from divestiture of business\n—\n—\n76,162\nPurchases of property, plant and equipment (476,335 ) (340,152 ) (227,891 )\nProceeds from sale of property, plant and equipment 46,715 10,687 13,560\nNet cash used in investing activities (668,293 ) (957,479 ) (1,344,640 )\nCash flows from financing activities:\nBorrowings under revolving credit facility 5,128,000 5,881,000 3,125,000\nRepayments under revolving credit facility (4,928,000 ) (6,205,000 ) (2,612,000 )\nProceeds from long-term debt and other loans\n—\n1,001,500 1,000,000\nRepayments of long-term debt and other loans (4,221 ) (616,222 ) (554,677 )\nPayments of debt extinguishment costs\n—\n(20,672 ) (4,950 )\nPayments of loan costs (1,897 ) (16,797 ) (19,450 )\nExercise of stock options 659 589 726\nRepurchase of common stock (1,847,409 ) (2,628,308 ) (1,714,761 )\nNet cash used in financing activities (1,652,868 ) (2,603,910 ) (780,112 )\nNet change in cash and cash equivalents (14,289 ) 37,842 (381,203 )\nCash and cash equivalents at beginning of period 80,445 42,603 423,806\nCash and cash equivalents at end of period\n$ 66,156 $ 80,445\n$ 42,603\nSupplemental disclosures of cash flow information:\nCash paid for interest $ 186,497 $ 169,390 $ 105,570\nCash paid for income taxes 578,734 936,424 633,060\nSupplemental disclosures of non-cash activities:\nNon-cash consideration for the BMC Merger $ —\n$ —\n$ 3,658,362\nAccrued purchases of property, plant and equipment 9,322 10,797 8,052\nRight-of-use assets obtained in exchange for operating lease obligations 104,512 100,843 64,939\nAmounts accrued for repurchases of common stock 16,988 44,447 51,545\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_company_type",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2023\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from to\nCommission File Number: 001-40620\nBUILDERS FIRSTSOURCE, INC.\n(Exact name of registrant as specified in its charter)\nDelaware 52-2084569\n(State or other jurisdiction of\nincorporation or organization)\n(I.R.S. Employer\nIdentification No.)\n6031 Connection Drive, Suite 400\nIrving, Texas\n(Address of principal executive offices) 75039\n(Zip Code)\nRegistrant’s telephone number, including area code:\n(214) 880-3500\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Common stock, par value $0.01 per share Trading Symbol(s) BLDR Securities registered pursuant to Section 12(g) of the Act:\nNone\nName of Each Exchange on Which Registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12\nmonths (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of\nthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company,\n” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial\naccounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting\nunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction\nof an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑\nThe aggregate market value of the registrant’s common stock held by non-affiliates of the registrant as of June 30, 2023, was approximately $16.7 billion based on the closing price\nper share on that date of $136.00 as reported on the New York Stock Exchange.\nThe number of shares of the registrant’s common stock, par value $0.01, outstanding as of February 15, 2024, was 121,940,068.\nDOCUMENTS INCORPORATED BY REFERENCE\nPortions of the registrant’s definitive proxy statement for its annual meeting of stockholders to be held on June 4, 2024, are incorporated by reference into Part II and Part III of this\nForm 10-K.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_key_financials",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 17097330k, net income 1540555k, net income per share basic: 12.06",
      "golden_context": "Page 38:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts)\n2023 2022 2021\nNet sales $ 17,097,330 $ 22,726,418 $ 19,893,856\nCost of sales\n11,084,996 14,982,039 14,042,900\nGross margin 6,012,334 7,744,379 5,850,956\nSelling, general and administrative expenses\n3,836,015 3,974,173 3,463,532\nIncome from operations 2,176,319 3,770,206 2,387,424\nInterest expense, net\n192,115 198,373 135,877\nIncome before income taxes 1,984,204 3,571,833 2,251,547\nIncome tax expense\n443,649 822,464 526,131\nNet income\n$ 1,540,555\n$ 2,749,369\n$ 1,725,416\nNet income per share:\nBasic\nDiluted\nWeighted average common shares:\nBasic\nDiluted\n$ 12.06\n$ 11.94\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n127,777 161,960 201,839\n128,998 163,481 203,470\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_revenue",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 17097330k",
      "golden_context": "Page 38:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts)\n2023 2022 2021\nNet sales $ 17,097,330 $ 22,726,418 $ 19,893,856\nCost of sales\n11,084,996 14,982,039 14,042,900\nGross margin 6,012,334 7,744,379 5,850,956\nSelling, general and administrative expenses\n3,836,015 3,974,173 3,463,532\nIncome from operations 2,176,319 3,770,206 2,387,424\nInterest expense, net\n192,115 198,373 135,877\nIncome before income taxes 1,984,204 3,571,833 2,251,547\nIncome tax expense\n443,649 822,464 526,131\nNet income\n$ 1,540,555\n$ 2,749,369\n$ 1,725,416\nNet income per share:\nBasic\nDiluted\nWeighted average common shares:\nBasic\nDiluted\n$ 12.06\n$ 11.94\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n127,777 161,960 201,839\n128,998 163,481 203,470\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_revenue_growth",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 17097330k, prior year: 22726418k",
      "golden_context": "Page 38:\n\nBUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\nYears Ended December 31,\n(in thousands, except per share amounts)\n2023 2022 2021\nNet sales $ 17,097,330 $ 22,726,418 $ 19,893,856\nCost of sales\n11,084,996 14,982,039 14,042,900\nGross margin 6,012,334 7,744,379 5,850,956\nSelling, general and administrative expenses\n3,836,015 3,974,173 3,463,532\nIncome from operations 2,176,319 3,770,206 2,387,424\nInterest expense, net\n192,115 198,373 135,877\nIncome before income taxes 1,984,204 3,571,833 2,251,547\nIncome tax expense\n443,649 822,464 526,131\nNet income\n$ 1,540,555\n$ 2,749,369\n$ 1,725,416\nNet income per share:\nBasic\nDiluted\nWeighted average common shares:\nBasic\nDiluted\n$ 12.06\n$ 11.94\n$ 16.98\n$ 16.82\n$ 8.55\n$ 8.48\n127,777 161,960 201,839\n128,998 163,481 203,470\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000397_segments",
      "report_id": "ID_000397",
      "company_name": "Builders FirstSource",
      "year": 2023,
      "country": "US",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": " supplier and manufacturer of building materials, manufactured components and construction services ",
      "golden_context": "Page 3:\n\nItem 1. Business\nCAUTIONARY STATEMENT\nStatements in this report and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements\nabout expected market share gains, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies\nfor the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are\ncautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor\nand analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. All forward-looking\nstatements are based upon currently available information and the Company’s current assumptions, expectations and projections about future events. Forward-\nlooking statements are by nature inherently uncertain, and actual results or events may differ materially from the results or events described in the forward-\nlooking statements as a result of many factors. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a\nresult of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s\ncontrol or may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the\nforward-looking statements, including risks or uncertainties related to the Company’s acquisitions, the Company’s growth strategies, including gaining market\nshare and its digital strategies, or the Company’s revenues and operating results being highly dependent on, among other things, the homebuilding industry,\nlumber prices and macroeconomic trends, including interest rates and potential labor and supply shortages. The Company may not succeed in addressing these\nand other risks. Further information regarding the risk factors that could affect our financial and other results are included as Item 1A of this annual report on\nForm 10-K and may also be described from time to time in the other reports the Company files with the Securities and Exchange Commission (“SEC”).\nConsequently, all forward-looking statements in this report are qualified by the factors, risks and uncertainties contained therein.\nOVERVIEW\nWe are a leading supplier and manufacturer of building materials, manufactured components and construction services to professional homebuilders, sub-\ncontractors, remodelers and consumers. The Company operates approximately 570 locations in 43 states across the United States (“U.S.\n”), which are internally\norganized into geographic operating divisions. Due to the similar economic characteristics, categories of products, distribution methods and customers, our\noperating divisions are aggregated into one reportable segment.\nWe offer an integrated solution to our customers by providing manufacturing, supply and installation of a full range of structural and related building\nproducts. Our manufactured products include our factory-built roof and floor trusses, wall panels, vinyl windows, custom millwork and trim, as well as\nengineered wood that we design, cut, and assemble specifically for each home. We also assemble interior and exterior doors into pre-hung units. Additionally,\nwe supply our customers with a broad offering of professional grade building products not manufactured by us, such as dimensional lumber and lumber sheet\ngoods and various window, door and millwork lines along with other specialty building products. Our full range of construction-related services include\nprofessional installation, turn-key framing and shell construction, spanning all of our product categories. Further, through our Paradigm subsidiary, we offer\nsoftware solutions and services for the building products industry.\nBuilders FirstSource, Inc. is a Delaware corporation formed in 1998 as BSL Holdings, Inc. On October 13, 1999, our name changed to Builders\nFirstSource, Inc. Our common stock trades on the New York Stock Exchange (“NYSE”) under the symbol ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_cash_flow",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1955.9m, investing: -1652.2m, financing: -1322.2m",
      "golden_context": "Page 84:\n\nLABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In Millions)\nYears Ended December 31,\n2022 2021 2020\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet earnings $ 1,280.6 $ 2,379.5 $ 1,557.0\nAdjustments to reconcile net earnings to net cash provided by operating activities:\nDepreciation and amortization 633.9 745.1 624.7\nStock compensation 144.1 153.7 111.7\nOperating lease right-of-use asset expense 194.4 194.9 200.3\nGoodwill and other asset impairments 271.5\n—\n462.1\nDeferred income taxes 18.3 (75.9) (47.0)\nOther, net 16.5 (24.0) 83.4\nChange in assets and liabilities (net of effects of acquisitions and divestitures):\n(Increase) decrease in accounts receivable Increase in unbilled services (Increase) decrease in inventory Increase in prepaid expenses and other Increase (decrease) in accounts payable Increase in deferred revenue Increase (decrease) in accrued expenses and other Net cash provided by operating activities 15.9 222.0 (913.4)\n(100.0) (179.2) (42.5)\n(45.5) 2.8 (196.6)\n(256.9) (68.2) (5.4)\n307.1 (10.2) (5.3)\n35.3 45.0 48.4\n(559.3) (275.9) 257.9\n1,955.9 3,109.6 2,135.3\nCASH FLOWS FROM INVESTING ACTIVITIES:\nCapital expenditures (481.9) (460.4) (381.7)\nPurchase of investments (17.4) (27.8) (40.1)\nProceeds from sale of assets 1.4 87.3 42.1\nProceeds from sale or distribution of investments 5.2 13.2 1.0\nProceeds from exit from swaps 2.9\n—\n3.1\nProceeds from sale of business 1.6\n—\n—\nAcquisition of businesses, net of cash acquired (1,164.0) (496.9) (267.6)\nNet cash used for investing activities (1,652.2) (884.6) (643.2)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nProceeds from senior note offerings —\n1,000.0\n—\nPayments on senior notes —\n(1,000.0) (412.2)\nPayments on term loan —\n(375.0) —\nProceeds from revolving credit facilities 787.4\n—\n151.7\nPayments on revolving credit facilities (787.4) —\n(151.7)\nNet share settlement tax payments from issuance of stock to employees (50.6) (47.4) (34.5)\nNet proceeds from issuance of stock to employees 50.6 51.7 55.9\nDividends paid (195.2) —\n—\nPurchase of common stock (1,100.0) (1,668.5) (100.0)\nOther (27.0) (26.6) (26.6)\nNet cash used for financing activities (1,322.2) (2,065.8) (517.4)\nEffect of exchange rate changes on cash and cash equivalents (24.2) (7.3) 8.6\nNet increase (decrease) in cash and cash equivalents (1,042.7) 151.9 983.3\nCash and cash equivalents at beginning of period 1,472.7 1,320.8 337.5\nCash and cash equivalents at end of period $ 430.0 $ 1,472.7 $ 1,320.8\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_company_type",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n[☒] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended December 31, 2022\nor\n[☐] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from\nto\n______\n______\nCommission file number - 1-11353\nLABORATORY CORPORATION OF AMERICA HOLDINGS\n(Exact name of registrant as specified in its charter)\nDelaware 13-3757370\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n358 South Main Street\nBurlington, North Carolina 27215\n(Address of principal executive offices) (Zip Code)\n(Registrant's telephone number, including area code) 336-229-1127\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.10 par value Securities registered pursuant to Section 12(g) of the Act: None\nTrading Symbol LH Name of exchange on which registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [X] No [ ].\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes [ ] No [X].\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes [X] No [ ].\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ].\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting com",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_key_financials",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenues 14876.8m, gross profit: 4385.1m, operating income 1773.9m, basic earnings per common share 14.05",
      "golden_context": "Page 15:\n\nThe Company's Business\nDue primarily to a decrease in COVID-19 testing, the Company experienced a reduction in revenues and other key financial metrics in 2022. However, by the\nend of the year, the Company saw accelerated revenue growth in Dx, continued strong underlying fundamentals in DD and margin expansion.\nIn Millions, Except Per Share Data Years Ended December 31,\n2022 2021\nRevenues $ 14,876.8 $ 16,120.9\nGross profit Operating income Net earnings attributable to Laboratory Corporation of America Holdings Cash flows from operating activities Basic earnings per common share Diluted earnings per common share $ 4,385.1 $ 5,624.3\n$ 1,773.9 $ 3,259.5\n$ 1,279.1 $ 2,377.3\n$ 1,955.9 $ 3,109.6\n$ 14.05 $ 24.60\n$ 13.97 $ 24.39\nThe Company reports its business in two segments, Dx and DD. In 2022, Dx and DD contributed 61% and 39%, respectively, of revenues to the Company, and\nin 2021 contributed 64% and 36%, respectively. Nearly all of Dx’s revenues are generated in the U.S., with a smaller portion in Canada and a relatively small\namount in the rest of the world. DD’s revenues are nearly evenly split between the U.S. and the rest of the world, with approximately 48% derived from the U.S.\nand approximately 52% from other countries. Although this allocation of revenues provides some protection from economic shifts in any one country, it is still\nheavily tilted towards the U.S. As a result, the Company continues to actively explore new and expanded business opportunities outside the U.S. to further\ndiversify its sources of revenues. The Company's revenues by segment payers/customer groups and by geography for the years ended December 31, 2022, 2021\nand 2020 are as follows:\nFor the Year Ended\nDece",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_revenue",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "14876.8m",
      "golden_context": "Page 15:\n\nThe Company's Business\nDue primarily to a decrease in COVID-19 testing, the Company experienced a reduction in revenues and other key financial metrics in 2022. However, by the\nend of the year, the Company saw accelerated revenue growth in Dx, continued strong underlying fundamentals in DD and margin expansion.\nIn Millions, Except Per Share Data Years Ended December 31,\n2022 2021\nRevenues $ 14,876.8 $ 16,120.9\nGross profit Operating income Net earnings attributable to Laboratory Corporation of America Holdings Cash flows from operating activities Basic earnings per common share Diluted earnings per common share $ 4,385.1 $ 5,624.3\n$ 1,773.9 $ 3,259.5\n$ 1,279.1 $ 2,377.3\n$ 1,955.9 $ 3,109.6\n$ 14.05 $ 24.60\n$ 13.97 $ 24.39\nThe Company reports its business in two segments, Dx and DD. In 2022, Dx and DD contributed 61% and 39%, respectively, of revenues to the Company, and\nin 2021 contributed 64% and 36%, respectively. Nearly all of Dx’s revenues are generated in the U.S., with a smaller portion in Canada and a relatively small\namount in the rest of the world. DD’s revenues are nearly evenly split between the U.S. and the rest of the world, with approximately 48% derived from the U.S.\nand approximately 52% from other countries. Although this allocation of revenues provides some protection from economic shifts in any one country, it is still\nheavily tilted towards the U.S. As a result, the Company continues to actively explore new and expanded business opportunities outside the U.S. to further\ndiversify its sources of revenues. The Company's revenues by segment payers/customer groups and by geography for the years ended December 31, 2022, 2021\nand 2020 are as follows:\nFor the Year Ended\nDece",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_revenue_growth",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "14876.8m, prior year 16120.9m",
      "golden_context": "Page 15:\n\nThe Company's Business\nDue primarily to a decrease in COVID-19 testing, the Company experienced a reduction in revenues and other key financial metrics in 2022. However, by the\nend of the year, the Company saw accelerated revenue growth in Dx, continued strong underlying fundamentals in DD and margin expansion.\nIn Millions, Except Per Share Data Years Ended December 31,\n2022 2021\nRevenues $ 14,876.8 $ 16,120.9\nGross profit Operating income Net earnings attributable to Laboratory Corporation of America Holdings Cash flows from operating activities Basic earnings per common share Diluted earnings per common share $ 4,385.1 $ 5,624.3\n$ 1,773.9 $ 3,259.5\n$ 1,279.1 $ 2,377.3\n$ 1,955.9 $ 3,109.6\n$ 14.05 $ 24.60\n$ 13.97 $ 24.39\nThe Company reports its business in two segments, Dx and DD. In 2022, Dx and DD contributed 61% and 39%, respectively, of revenues to the Company, and\nin 2021 contributed 64% and 36%, respectively. Nearly all of Dx’s revenues are generated in the U.S., with a smaller portion in Canada and a relatively small\namount in the rest of the world. DD’s revenues are nearly evenly split between the U.S. and the rest of the world, with approximately 48% derived from the U.S.\nand approximately 52% from other countries. Although this allocation of revenues provides some protection from economic shifts in any one country, it is still\nheavily tilted towards the U.S. As a result, the Company continues to actively explore new and expanded business opportunities outside the U.S. to further\ndiversify its sources of revenues. The Company's revenues by segment payers/customer groups and by geography for the years ended December 31, 2022, 2021\nand 2020 are as follows:\nFor the Year Ended\nDece",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000398_segments",
      "report_id": "ID_000398",
      "company_name": "Labcorp",
      "year": 2022,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "The Company reports its business in two segments, Dx and DD",
      "golden_context": "Page 15:\n\ne year, the Company saw accelerated revenue growth in Dx, continued strong underlying fundamentals in DD and margin expansion.\nIn Millions, Except Per Share Data Years Ended December 31,\n2022 2021\nRevenues $ 14,876.8 $ 16,120.9\nGross profit Operating income Net earnings attributable to Laboratory Corporation of America Holdings Cash flows from operating activities Basic earnings per common share Diluted earnings per common share $ 4,385.1 $ 5,624.3\n$ 1,773.9 $ 3,259.5\n$ 1,279.1 $ 2,377.3\n$ 1,955.9 $ 3,109.6\n$ 14.05 $ 24.60\n$ 13.97 $ 24.39\nThe Company reports its business in two segments, Dx and DD. In 2022, Dx and DD contributed 61% and 39%, respectively, of revenues to the Company, and\nin 2021 contributed 64% and 36%, respectively. Nearly all of Dx’s revenues are generated in the U.S., with a smaller portion in Canada and a relatively small\namount in the rest of the world. DD’s revenues are nearly evenly split between the U.S. and the rest of the world, with approximately 48% derived from the U.S.\nand approximately 52% from other countries. Although this allocation of revenues provides some protection from economic shifts in any one country, it is still\nheavily tilted towards the U.S. As a result, the Company continues to actively explore new and expanded business opportunities outside the U.S. to further\ndiversify its sources of revenues. The Company's revenues by segment payers/customer groups and by geography for the years ended December 31, 2022, 2021\nand 2020 are as follows:\nFor the Year Ended\nDecember 31, 2022\nNorth\nAmerica Europe Other Total\nFor the Year Ended\nDecember 31, 2021\nNorth\nAmerica Europe Other Total\nFor the Year Ended\nDecember 31, 2020\nNorth\nAmerica Europe Other Total\nPayer/Customer\nDx\nClients 18 % —\n% —\n% 18 % 17 % —\n% —\n% 17 % 20 % —\n% —\n% 20 %\nPatients 6 % —\n% —\n% 6 % 6 % —\n% —\n% 6 % 6 % —\n% —\n% 6 %\nMedicare and\nMedicaid 6 % —\n% —\n% 6 % 7 % —\n% —\n% 7 % 7 % —\n% —\n% 7 %\nThird party 31 % —\nTotal Dx revenues\nby payer 61 % ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_cash_flow",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "cash_flow",
      "golden_answer": "Operating:  1'327.7m, \ninvesting: -1'171.5m, \nFinancing:    -59.3m\n\n",
      "golden_context": "Page 86:\n\nCASH FLOWS FROM OPERATING ACTIVITIES:\nNet earnings Earnings from discontinued operations $ 419.2 $ 1,280.6 $ 2,379.5\n(38.8) (277.1) (181.9)\nAdjustments to reconcile net earnings to net cash provided by operating activities:\nDepreciation and amortization 577.3 537.2 577.0\nStock compensation 128.7 116.8 132.9\nOperating lease right-of-use asset expense 168.0 172.5 164.0\nGoodwill and other asset impairments 349.0 261.7\n—\nDeferred income taxes (78.1) 26.3 (37.3)\nOther, net 38.9 23.0 (34.1)\nChange in assets and liabilities (net of effects of acquisitions and divestitures):\n(Increase) decrease in accounts receivable (Increase) decrease in unbilled services (Increase) decrease in inventory Increase in prepaid expenses and other Increase (decrease) in accounts payable Increase in deferred revenue Decrease in accrued expenses and other Net cash provided by continuing operating activities Net cash provided by discontinued operating activities Net cash provided by operating activities (103.8) 46.5 267.4\n28.5 (23.4) (41.1)\n(0.7) (45.5) 2.8\n(25.8) (244.1) (41.5)\n(42.4) 285.4 (5.3)\n105.5 67.8 3.8\n(323.2) (462.9) (339.9)\n1,202.3 1,764.8 2,846.3\n125.4 191.1 263.3\n1,327.7 1,955.9 3,109.6\nCASH FLOWS FROM INVESTING ACTIVITIES:\nCapital expenditures (453.6) (429.3) (421.5)\nPurchase of investments (29.0) (17.4) (27.8)\nProceeds from sale of assets 0.6 1.4 87.3\nProceeds from sale or distribution of investments 6.7 5.2 13.2\nProceeds from exit from swaps —\n2.9\n—\nProceeds from sale of business —\n1.6\n—\nAcquisition of businesses, net of cash acquired (671.5) (1,164.0) (496.9)\nNet cash used for continuing investing activities (1,146.8) (1,599.6) (845.7)\nNet cash used for discontinued investing activities (24.7) (52.6) (38.9)\nNet cash used for investing activities (1,171.5) (1,652.2) (884.6)\nCASH FLOWS FROM FINANCING ACTIVITIES:\nProceeds from senior note offerings —\n—\n1,000.0\nPayments on senior notes (300.0) —\n(1,000.0)\nPayments on term loan —\n—\n(375.0)\nProceeds from revolving credit facilities 2,488.2 787.4\n—\nPayments on revolving credit facilities (2,488.2) (787.4) —\nNet share settlement tax payments from issuance of stock to employees (39.8) (50.6) (47.5)\nNet proceeds from issuance of stock to employees 54.4 50.6 51.7\nDividends paid (254.0) (195.2) —\nPurchase of common stock (1,000.0) (1,100.0) (1,668.5)\nOther (19.6) (27.0) (26.5)\nNet cash used for continuing financing activities (1,559.0) (1,322.2) (2,065.8)\nNet cash provided by discontinued financing activities 1,499.7\n—\n—\nNet cash used for financing activities (59.3) (1,322.2) (2,065.8)\nEffect of exchange rate changes on cash and cash equivalents 9.9 (24.2) (7.3)\nNet increase (decrease) in cash and cash equivalents 106.8 (1,042.7) 151.9\nCash and cash equivalents at beginning of period 430.0 1,472.7 1,320.8\nLess cash and cash equivalents of discontinued operations at the end of the period —\n109.4 91.3\nCash and cash equivalents at end of period $ 536.8 $ 320.6 $ 1,381.4\nThe accompanying notes are an integral part of these consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_company_type",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\n[☒] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the fiscal year ended December 31, 2023\nor\n[☐] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the transition period from\nto\n______\n______\nCommission file number - 1-11353\nLABORATORY CORPORATION OF AMERICA HOLDINGS\n(Exact name of registrant as specified in its charter)\nDelaware 13-3757370\n(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)\n358 South Main Street\nBurlington, North Carolina 27215\n(Address of principal executive offices) (Zip Code)\n(Registrant's telephone number, including area code) 336-229-1127\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each class Common Stock, $0.10 par value Securities registered pursuant to Section 12(g) of the Act: None\nTrading Symbol LH Name of exchange on which registered\nNew York Stock Exchange\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [X] No [ ].\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes [ ] No [X].\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934\nduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing\nrequirements for the past 90 days. Yes [X] No [ ].\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\nYes [X] No [ ].\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of “large accelerated filer,\n” “accelerated filer,\n” “smaller reporting company”\n, and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\nLarge accelerated filer ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_key_financials",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 12161.6m, gross profit 3364.9m, operating income: 725.6m, net earnings: 419.2m, basic earnings per common share: 4.8",
      "golden_context": "Page 83:\n\nLABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In Millions, Except Per Share Data)\nYears Ended December 31,\n2023 2022 2021\nRevenues $ 12,161.6 $ 11,863.9 $ 13,136.1\nCost of revenues 8,796.7 8,155.0 8,143.7\nGross profit 3,364.9 3,708.9 4,992.4\nSelling, general and administrative expenses 2,021.4 1,763.1 1,690.3\nAmortization of intangibles and other assets 219.8 193.6 229.5\nGoodwill and other asset impairments 349.0 261.7\n—\nRestructuring and other charges 49.1 54.0 24.0\nOperating income 725.6 1,436.5 3,048.6\nOther income (expense):\nInterest expense (199.6) (179.8) (211.8)\nInvestment income 28.8 7.5 8.8\nEquity method (loss) income, net (1.4) 5.4 26.5\nOther, net 15.5 (32.2) 15.5\nEarnings from continuing operations before income taxes 568.9 1,237.4 2,887.6\nProvision for income taxes 188.5 233.9 690.0\nEarnings from continuing operations 380.4 1,003.5 2,197.6\nEarnings from discontinued operations, net of tax 38.8 277.1 181.9\nNet earnings 419.2 1,280.6 2,379.5\nLess: Net earnings attributable to the noncontrolling interest (1.2) (1.5) (2.2)\nNet earnings attributable to Laboratory Corporation of America Holdings $ 418.0 $ 1,279.1 $ 2,377.3\nBasic earnings per common share:\nBasic earnings per common share continuing operations $ 4.35 $ 11.00 $ 22.71\nBasic earnings per common share discontinued operations $ 0.45 $ 3.04 $ 1.88\nBasic earnings per common share $ 4.80 $ 14.05 $ 24.60\nDiluted earnings per common share:\nDiluted earnings per common share continuing operations $ 4.33 $ 10.94 $ 22.52\nDiluted earnings per common share discontinued operations $ 0.44 $ 3.03 $ 1.87\nDiluted earnings per common share $ 4.77 $ 13.97 $ 24.39",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_revenue",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue",
      "golden_answer": "12161.6m",
      "golden_context": "Page 83:\n\nLABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In Millions, Except Per Share Data)\nYears Ended December 31,\n2023 2022 2021\nRevenues $ 12,161.6 $ 11,863.9 $ 13,136.1\nCost of revenues 8,796.7 8,155.0 8,143.7\nGross profit 3,364.9 3,708.9 4,992.4\nSelling, general and administrative expenses 2,021.4 1,763.1 1,690.3\nAmortization of intangibles and other assets 219.8 193.6 229.5\nGoodwill and other asset impairments 349.0 261.7\n—\nRestructuring and other charges 49.1 54.0 24.0\nOperating income 725.6 1,436.5 3,048.6\nOther income (expense):\nInterest expense (199.6) (179.8) (211.8)\nInvestment income 28.8 7.5 8.8\nEquity method (loss) income, net (1.4) 5.4 26.5\nOther, net 15.5 (32.2) 15.5\nEarnings from continuing operations before income taxes 568.9 1,237.4 2,887.6\nProvision for income taxes 188.5 233.9 690.0\nEarnings from continuing operations 380.4 1,003.5 2,197.6\nEarnings from discontinued operations, net of tax 38.8 277.1 181.9\nNet earnings 419.2 1,280.6 2,379.5\nLess: Net earnings attributable to the noncontrolling interest (1.2) (1.5) (2.2)\nNet earnings attributable to Laboratory Corporation of America Holdings $ 418.0 $ 1,279.1 $ 2,377.3\nBasic earnings per common share:\nBasic earnings per common share continuing operations $ 4.35 $ 11.00 $ 22.71\nBasic earnings per common share discontinued operations $ 0.45 $ 3.04 $ 1.88\nBasic earnings per common share $ 4.80 $ 14.05 $ 24.60\nDiluted earnings per common share:\nDiluted earnings per common share continuing operations $ 4.33 $ 10.94 $ 22.52\nDiluted earnings per common share discontinued operations $ 0.44 $ 3.03 $ 1.87\nDiluted earnings per common share $ 4.77 $ 13.97 $ 24.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_revenue_growth",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "revenue_growth",
      "golden_answer": "12161.6m, prior year: 11863.9m",
      "golden_context": "Page 83:\n\nLABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In Millions, Except Per Share Data)\nYears Ended December 31,\n2023 2022 2021\nRevenues $ 12,161.6 $ 11,863.9 $ 13,136.1\nCost of revenues 8,796.7 8,155.0 8,143.7\nGross profit 3,364.9 3,708.9 4,992.4\nSelling, general and administrative expenses 2,021.4 1,763.1 1,690.3\nAmortization of intangibles and other assets 219.8 193.6 229.5\nGoodwill and other asset impairments 349.0 261.7\n—\nRestructuring and other charges 49.1 54.0 24.0\nOperating income 725.6 1,436.5 3,048.6\nOther income (expense):\nInterest expense (199.6) (179.8) (211.8)\nInvestment income 28.8 7.5 8.8\nEquity method (loss) income, net (1.4) 5.4 26.5\nOther, net 15.5 (32.2) 15.5\nEarnings from continuing operations before income taxes 568.9 1,237.4 2,887.6\nProvision for income taxes 188.5 233.9 690.0\nEarnings from continuing operations 380.4 1,003.5 2,197.6\nEarnings from discontinued operations, net of tax 38.8 277.1 181.9\nNet earnings 419.2 1,280.6 2,379.5\nLess: Net earnings attributable to the noncontrolling interest (1.2) (1.5) (2.2)\nNet earnings attributable to Laboratory Corporation of America Holdings $ 418.0 $ 1,279.1 $ 2,377.3\nBasic earnings per common share:\nBasic earnings per common share continuing operations $ 4.35 $ 11.00 $ 22.71\nBasic earnings per common share discontinued operations $ 0.45 $ 3.04 $ 1.88\nBasic earnings per common share $ 4.80 $ 14.05 $ 24.60\nDiluted earnings per common share:\nDiluted earnings per common share continuing operations $ 4.33 $ 10.94 $ 22.52\nDiluted earnings per common share discontinued operations $ 0.44 $ 3.03 $ 1.87\nDiluted earnings per common share $ 4.77 $ 13.97 $ 24.3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000399_segments",
      "report_id": "ID_000399",
      "company_name": "Labcorp",
      "year": 2023,
      "country": "US",
      "industry": "Health Care",
      "question_type": "segments",
      "golden_answer": "The Company is organized under two segments, consisting of Diagnostics Laboratories (Dx), which includes routine testing and specialty/esoteric testing,\nand Biopharma Laboratory Services (BLS), consisting of Early Development Research Laboratories and Central Laboratory Services.",
      "golden_context": "Page 9:\n\nItem 1. BUSINESS\nLabcorp ®\n(Labcorp or the Company) is a global leader of innovative and comprehensive laboratory services that provides vital information to help\ndoctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. By leveraging its unparalleled diagnostics and\ndrug development capabilities, the Company provides insights and accelerates innovations to improve health and improve lives. With more than 67,000\nemployees, the Company serves clients in more than 100 countries.\nThe Company is organized under two segments, consisting of Diagnostics Laboratories (Dx), which includes routine testing and specialty/esoteric testing,\nand Biopharma Laboratory Services (BLS), consisting of Early Development Research Laboratories and Central Laboratory Services. The Company's\nstrength in science, technology, and innovation, as well as its global scale, enable it to play a leading role in advancing healthcare across the globe. The\nCompany worked on 90% of the new drugs approved by the FDA in 2023 and performed more than 600 million tests for patients around the world.\nThe significant reach, breadth, and advancement of the Company's offerings have resulted in Base Business revenue growth of 11.8% from 2022 through\n2023 and 7.2% versus 2019 CAGR. Base Business includes the Company's business operations except for COVID-19 PCR and antibody testing (COVID-19\nTesting).\nFor the period ended December 31, 2023, the Company generated revenues of $12,161.6 million, diluted earnings per share from continuing operations of\n$4.33, and had a total operating cash flow from continuing operations of 1,202.3 million.\nThe Company believes that science, technology, and innovation drive its continued success, differentiate the Company, and are foundational to its future.\nThey are critical to the Company's ability to carry out its mission to improve health and improve lives.\nSpin-off of Fortrea Holdings Inc.\nOn June 30, 2023, the Company completed the previously announced separation (spin-off) of its former clinical development and commercialization\nservices (CDCS) business, Fortrea Holdings Inc. (Fortrea).\nThe spin-off of Fortrea was achieved throu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_cash_flow",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 493m, \ninvesting: -3'039m, \nfinancing: -272m",
      "golden_context": "Page 65:\n\nObligations Arising Out of a Variable Interest in an Unconsolidated Entity\nVariable interest in Equity investments — As of December 31, 2021, NRG has several investments with an ownership\ninterest percentage of 50% or less in energy and energy-related entities that are accounted for under the equity method of\naccounting. Ivanpah is considered a variable interest entity for which NRG is not the primary beneficiary.\nNRG's pro-rata share of non-recourse debt held by unconsolidated affiliates was approximately $535 million as of\nDecember 31, 2021. This indebtedness may restrict the ability of these subsidiaries to issue dividends or distributions to NRG.\nSee also Item 15 — Note 17, Investments Accounted for by the Equity Method and Variable Interest Entities, to the\nConsolidated Financial Statements for additional discussion.\nCash Flow Discussion\n2021 compared to 2020\nThe following table reflects the changes in cash flows for the comparative years:\nYear ended December 31,\n(In millions) 2021 2020 Change\nNet cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 493 $ 1,837 $ (1,344)\nNet cash used by investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,039) (494) (2,545)\nNet cash (used)/provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (272) 2,204 (2,476)\n64\nNet Cash (Used)/Provided By Operating Activities\nChanges to net cash (used)/provided by operating activities were driven by:\n(In millions)\nDecrease in working capital related to accounts receivable primarily driven by milder weather in 2020, the\nimpact of Winter Storm Uri and additional early settlement of capacity obligations in 2021 . . . . . . . . . . . . . . . . . $ (1,232)\nDecrease in operating income adjusted for other non-cash items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,235)\nChanges in cash collateral in support of risk management activities due to change in commodity prices . . . . . . . 670\nIncrease in working capital related to accounts payable primarily driven by increases in gas purchases and\nbilateral physical settlements driven by price and volume in ERCOT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 532\nDecrease in working capital related to inventory due to replenishing natural gas inventory at significantly higher\nprices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (88)\nOther changes in working capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9\n$ (1,344)\nNet Cash (Used)/Provided By Investing Activities\nChanges to net cash (used)/provided by investing activities were driven by:\n(In millions)\nIncrease in cash paid for acquisitions of assets primarily for Direct Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (3,275)\nIncrease in proceeds from sale of assets primarily due to the fossil generating assets and Agua Caliente . . . . . . . 749\nDecrease in capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39)\nIncrease in proceeds from sales of investments in nuclear decommissioning trust fund securities, net of\npurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12\nIncrease in sales of emissions allowances, net of purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2)\n$ (2,545)\nNet Cash (Used)/Provided By Financing Activities\nChanges in net cash (used)/provided by financing activities were driven by:\n(In millions)\nDecrease in proceeds from issuance of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (2,134)\nIncrease in payments of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,526)\nIncrease in net receipts from settlement of acquired derivatives 945\nDecrease in payments for share repurchase activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181\nIncrease in proceeds from Revolving Credit Facility and Receivables Securitization Facilities 83\nIncrease in payments of dividends to common stockholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (24)\nOther . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1)\n$ (2,476)\nNOLs, Deferred Tax Assets and Uncertain Tax Position Implications\nFor the year ended December 31, 2021, the Company had domestic pre-tax book income of $2.8 billion and foreign pre-\ntax book income of $100 million. For the year ended December 31, 2021, the Company utilized U.S. federal NOLs of\n$1.6 billion due to current year taxable income. As of December 31, 2021, the Company has cumulative U.S. federal NOL\ncarryforwards of $8.4 billion, of which $11 million were generated prior to Tax Cuts and Jobs Act and will begin expiring in\n2031 and cumulative state NOL carryforwards of $5.2 billion for financial statement purposes. NRG also has cumulative\nforeign NOL carryforwards of $383 million, which do not have an expiration date. In addition to the above NOLs, NRG has a\n$20 million indefinite carryforward for interest deductions, as well as $384 million of tax credits to be utilized in future years.\nAs a result of the Company's tax position, including the utilization of federal and state NOLs, and based on current forecasts,\nthe Company anticipates income tax payments, due to federal, state and foreign jurisdictions, of up to $58 million in 2022.\n65\nThe Company has $13 million of tax effected uncertain federal and state tax benefits for which the Company has recorded\na non-current tax liability of $14 million (including accrued interest) until such final resolution with the related taxing authority.\nThe Company is no longer subject to U.S. federal income tax examinations for years prior to 2018. With few exceptions,\nstate and Canadian income tax examinations are no longer open for years before 2013.\nGuarantor Financial Information\nAs of December 31, 2021, the Company's outstanding registered senior notes consisted of $375 million of the 2027 Senior\nNotes and $821 million of the 2028 Senior Notes, as shown in Note 13, Long-term Debt and Finance Leases. These Senior\nNotes are guaranteed by certain of NRG's current and future 100% owned domestic subsidiaries, or guarantor subsidiaries (the\n“Guarantors”). See Exhibit 22.1 for a listing of the Guarantors. These guarantees are both joint and several.\nNRG conducts much of its business through and derives much of its income from its subsidiaries. Therefore, the\nCompany's ability to make required payments with respect to its indebtedness and other obligations depends on the financial\nresults and condition of its subsidiaries and NRG's ability to receive funds from its subsidiaries. There are no restrictions on the\nability of any of the Guarantors to transfer funds to NRG. Other subsidiaries of the Company do not guarantee the registered\ndebt securities of either NRG Energy, Inc. or the Guarantors (such subsidiaries are referred to as the “Non-Guarantors”). The\nNon-Guarantors include all of NRG's foreign subsidiaries and certain domestic subsidiaries.\nThe tables below present summarized financial information of NRG Energy, Inc. and the Guarantors in accordance with\nRule 3-10 under the SEC's Regulation S-X. The financial information may not necessarily be indicative of results of operations\nor financial position of NRG Energy, Inc. and the Guarantors in accordance with U.S. GAAP.\nThe following table presents the summarized statement of operations:\n(In millions)\nFor the Year Ended\nDecember 31, 2021(a)\nOperating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,679\nOperating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,753\nTotal other expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (467)\nIncome from continuing operations before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,286\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,633\n(a) Intercompany transactions with Non-Guarantors include operating revenue of $42 million, cost of operations of $(235) million and selling, general and\nadministrative of $108 million\nThe following table presents the summarized balance sheet information:\n(In millions)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_company_type",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year ended December 31, 2021.\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition period from to .\nCommission file No. 001-15891\nNRG Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n910 Louisiana Street, Houston, Texas\n(Address of principal executive offices)\n(713) 537-3000\n(Registrant's telephone number, including area code)\nTitle of Each Class Common Stock, par value $0.01 Securities registered pursuant to Section 12(b) of the Act:\nTrading Symbol(s) Name of Exchange on Which Registered\nNRG New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act:\nNone\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging\ngrowth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in Rule 12b-2\nof the Exchange Act.\nLarge Accelerated Filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared\nor issued its audit report ☒\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of the last business day of the most recently completed second fiscal quarter, the aggregate market value of the common stock of the registrant\nheld by non-affiliates was approximately $8,611,281,553 based on the closing sale price of $40.30 as reported on the New York Stock Exchange.\nIndicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.\nClass Outstanding at February 24, 2022\nCommon Stock, par value $0.01 per share 242,153,239\nDocuments Incorporated by Reference:\nPortions of the Registrant's definitive Proxy Statement relating to its 2022 Annual Meeting of Stockholders\nare incorporated by reference into Part III of this Annual Report on Form 10-K",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_key_financials",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "operating revenues: 26989m, operating income: 3341m, net income: 2187",
      "golden_context": "Page 49:\n\nConsolidated Results of Operations for the years ended December 31, 2021 and 2020\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2021 2020 Change\nOperating Revenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,561 $ 7,460 $ 16,101\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,215 539 676\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 775 680 95\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (164) 95 (259)\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30) — (30)\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,632 319 1,313\nTotal operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,989 9,093 17,896\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,844 851 (993)\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 19,766 4,069 (15,697)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (2,880) 214 3,094\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 43 5 (38)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,370 1,129 (241)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339 272 (67)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,482 6,540 (13,942)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 785 435 (350)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 544 75 (469)\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,293 810 (483)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 698 108 (590)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 93 23 (70)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,895 7,991 (15,904)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247 3 244\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,341 1,105 2,236\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 17 17 —\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (18) 18\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 67 (4)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (77) (9) (68)\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (485) (401) (84)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (482) (344) (138)\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,859 761 2,098\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 672 251 421\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,187 $ 510 $ 1,677\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 3.84 $ 2.08 85 %\n(a) (b) (c) Includes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as operating revenues less cost of fuel,\npurchased energy and other costs of sales, mark-to-marke",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_revenue",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "26'989m",
      "golden_context": "Page 49:\n\nConsolidated Results of Operations for the years ended December 31, 2021 and 2020\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2021 2020 Change\nOperating Revenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,561 $ 7,460 $ 16,101\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,215 539 676\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 775 680 95\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (164) 95 (259)\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30) — (30)\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,632 319 1,313\nTotal operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,989 9,093 17,896\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,844 851 (993)\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 19,766 4,069 (15,697)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (2,880) 214 3,094\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 43 5 (38)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,370 1,129 (241)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339 272 (67)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,482 6,540 (13,942)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 785 435 (350)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 544 75 (469)\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,293 810 (483)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 698 108 (590)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 93 23 (70)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,895 7,991 (15,904)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247 3 244\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,341 1,105 2,236\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 17 17 —\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (18) 18\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 67 (4)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (77) (9) (68)\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (485) (401) (84)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (482) (344) (138)\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,859 761 2,098\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 672 251 421\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,187 $ 510 $ 1,677\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 3.84 $ 2.08 85 %\n(a) (b) (c) Includes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as operating revenues less cost of fuel,\npurchased energy and other costs of sales, mark-to-market for economic hedging activities, contract and emission credit\namortization and depreciation and amortization.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_revenue_growth",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "26'989m, prior year: 9'093m",
      "golden_context": "Page 49:\n\nConsolidated Results of Operations for the years ended December 31, 2021 and 2020\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2021 2020 Change\nOperating Revenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,561 $ 7,460 $ 16,101\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,215 539 676\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 775 680 95\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (164) 95 (259)\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30) — (30)\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,632 319 1,313\nTotal operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,989 9,093 17,896\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,844 851 (993)\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 19,766 4,069 (15,697)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (2,880) 214 3,094\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 43 5 (38)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,370 1,129 (241)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339 272 (67)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,482 6,540 (13,942)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 785 435 (350)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 544 75 (469)\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,293 810 (483)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 698 108 (590)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 93 23 (70)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,895 7,991 (15,904)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247 3 244\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,341 1,105 2,236\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 17 17 —\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (18) 18\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 67 (4)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (77) (9) (68)\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (485) (401) (84)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (482) (344) (138)\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,859 761 2,098\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 672 251 421\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,187 $ 510 $ 1,677\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 3.84 $ 2.08 85 %\n(a) (b) (c) Includes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as operating revenues less cost of fuel,\npurchased energy and other costs of sales, mark-to-market for economic hedging activities, contract and emission credit\namortization and depreciation and amortization.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000400_segments",
      "report_id": "ID_000400",
      "company_name": "NRG",
      "year": 2021,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Texas, East, West/Services/Other, Corporate activities.\n\nThe Company’s core business is the sale of electricity and natural gas to residential, commercial and industrial and wholesale customers, supported by the Company's wholesale generation.",
      "golden_context": "Page 144:\n\nConvertible Senior Notes were convertible, under certain circumstances, into the Company’s common stock, cash or\ncombination thereof (at NRG's option). There was no dilutive effect for the Convertible Senior Notes due to the Company’s\nexpectation, as of such dates, to settle the liability in cash. On February 22, 2022, the Company irrevocably elected to eliminate\nthe right to settle conversions only in shares of the Company's common stock, such that any conversion after such date will be\nsettled in cash or a combination of cash and the Company's common stock.\nThe reconciliation of NRG's basic income per share to diluted income per share is shown in the following table:\nYear Ended December 31,\n(In millions, except per share amounts) 2021 2020 2019\nBasic income per share attributable to NRG Energy, Inc;\nNet income attributable to NRG Energy, Inc. common stockholders . . . . . . . . . . $ 2,187 $ 510 $ 4,438\nWeighted average number of common shares outstanding-basic . . . . . . . . . . . . . . . . . . . . 245 245 262\nIncome per weighted average common share — basic . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8.93 $ 2.08 $ 16.94\nDiluted income per share attributable to NRG Energy, Inc;\nNet income attributable to NRG Energy, Inc. common stockholders . . . . . . . . . . $ 2,187 $ 510 $ 4,438\nWeighted average number of common shares outstanding-basic . . . . . . . . . . . . . . . . . . . . 245 245 262\nIncremental shares attributable to the issuance of equity compensation (treasury stock\nmethod) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1 2\nWeighted average number of common shares outstanding-diluted . . . . . . . . . . . . . . . . . . . 245 246 264\nIncome per weighted average common share — diluted . . . . . . . . . . . . . . . . . . . . . . . . . $ 8.93 $ 2.07 $ 16.81\nAs of December 31, 2021, 2020 and 2019 the Company had an insignificant number of outstanding equity instruments\nthat are anti-dilutive and were not included in the computation of the Company’s diluted income per share.\nNote 19 — Segment Reporting\nThe Company’s segment structure reflects how management makes financial decisions and allocates resources. The\nCompany manages its operations based on the combined results of the retail and wholesale generation businesses with a\ngeographical focus.\nNRG's chief operating decision maker, its chief executive officer, evaluates the performance of its segments based on\noperational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA,\nfree cash flow and capital for allocation, as well as net income/(loss) and net income/(loss) attributable to NRG Energy, Inc.\nThe acquired operations of Direct Energy are integrated into the existing NRG segment structure. Domestic customer and\nmarket operations are combined into the corresponding geographical segments of Texas, East and West/Services/Other. The\nWest/Services/Other segment includes activity related to the Canadian operations as well as the services businesses.\n144\nIn February 2019, the Company completed the sale and deconsolidation of the South Central Portfolio and Carlsbad.\nRefer to Note 4, Acquisitions, Discontinued Operations and Dispositions, for further discussion.\nThe Company had no customer that comprised more than 10% of the Company's consolidated revenues during the years\nended December 31, 2021, 2020 and 2019.\nIntersegment sales are accounted for at market.\nFor the Year Ended December 31, 2021\n(In millions) \n\n\nPage 9:\n\nvery, and additional ERCOT default recovery.\nBusiness Overview\nThe Company’s core business is the sale of electricity and natural gas to residential, commercial and industrial and\nwholesale customers, supported by the Company's wholesale generation. NRG manages its operations based on the combined\nresults of the retail and wholesale generation businesses with a geographical focus.\nThe Company's business is segmented as follows:\n• Texas, which includes all activity related to customer, plant and market operations in Texas;\n• East, which includes all activity related to customer, plant and market operations in the East;\n• West/Services/Other, which primarily includes the following assets and activities: (i) all activity related to customer,\nplant and market operations in the West and Canada, (ii) the services businesses, (iii) activity related to the\nCottonwood facility, (iv) the remaining renewables activity, including the Company’s equity method investment in\nIvanpah Master Holdings, LLC, and (v) activity related to the Company’s equity method investment for the Gladstone\npower plant in Australia; and\n• Corporate activities.\n8\nAs of December 31, 2021, in Texas, the Company’s generation supply is fully integrated with its retail load. In the East,\nthe Company’s retail load is more dispersed throughout the region and not fully integrated with the Company’s generation\nsupply due to the locations of its power plants in that region. In the West/Services/Other, the Company’s business is primarily\nserving retail load and services customers.\nThe Company’s integrated model consis",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_cash_flow",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 360m, investing: -332m, financing: 1043m",
      "golden_context": "Page 65:\n\nimary beneficiary. See also Item 15 — Note 17, Investments Accounted for by the Equity Method and Variable Interest\nEntities, to the Consolidated Financial Statements for additional discussion. NRG's pro-rata share of non-recourse debt was\napproximately $478 million as of December 31, 2022. This indebtedness may restrict the ability of these subsidiaries to issue\ndividends or distributions to NRG.\nCash Flow Discussion\n2022 compared to 2021\nThe following table reflects the changes in cash flows for the comparative years:\nYear ended December 31,\n(In millions) 2022 2021 Change\nCash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 360 $ 493 $ (133)\nCash used by investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (332) (3,039) 2,707\nCash provided/(used) by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,043 (272) 1,315\nCash provided by operating activities\nChanges to cash (used)/provided by operating activities were driven by:\n(In millions)\nDecrease in operating income adjusted for other non-cash items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (1,161)\nIncrease due to receipt of uplift securitization proceeds from ERCOT in 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 689\nIncrease in working capital primarily attributable to the impact of higher market prices on accounts payable,\npartially offset by a decrease working capital related to higher priced natural gas inventory and accounts\nreceivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300\nChanges in cash collateral in support of risk management activities due to change in commodity prices . . . . . . . 99\nOther changes in working capital primarily driven by lower personnel costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (60)\n$ (133)\nCash used by investing activities\nChanges to cash provided/(used) by investing activities were driven by:\n(In millions)\nIncrease as a result of less cash paid for acquisitions of assets primarily for Direct Energy in 2021 . . . . . . . . . . . $ 3,497\nDecrease in proceeds from sale of assets primarily due to the prior year's sales of the fossil generating assets and\nAgua Caliente . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (721)\nIncrease in capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (98)\nIncrease due to fewer purchases of investments in nuclear decommissioning trust fund securities, net of sales . . 35\nDecrease in sales of emissions allowances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_company_type",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year ended December 31, 2022.\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition period from to .\nCommission file No. 001-15891\nNRG Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n41-1724239\n(I.R.S. Employer Identification No.)\n910 Louisiana Street, Houston, Texas\n(Address of principal executive offices)\n77002\n(Zip Code)\n(713) 537-3000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Exchange on Which Registered\nCommon Stock, par value $0.01 NRG New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in\nRule 12b-2 of the Exchange Act.\nLarge Accelerated Filer ☒ Non-accelerated filer ☐ Accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared\nor issued its audit report ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in\nthe filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of the last business day of the most recently completed second fiscal quarter, the aggregate market value of the common stock of the registrant\nheld by non-affiliates was approximately $6,461,030,777 based on the closing sale price of $38.17 as reported on the New York Stock Exchange.\nIndicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.\nClass Outstanding at February 15, 2023\nCommon Stock, par value $0.01 per share 229,774,238\nDocuments Incorporated by Reference:\nPortions of the Registrant's definitive Proxy Statement relating to its 2023 Annual Meeting of Stockholders\nare incorporated by reference into Part III of this Annual Report on Form 10-K",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_key_financials",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 31'543m, \noperating income: 2'018m, \nnet income: 1'221m",
      "golden_context": "Page 48:\n\nConsolidated Results of Operations for the years ended December 31, 2022 and 2021\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2022 2021(a) Change\nRevenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 29,722 $ 23,561 $ 6,161\nEnergy revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250 1,215 35\nCapacity revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 775 (503)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (83) (164) 81\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39) (30) (9)\nOther revenues(b)(c)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 421 1,632 (1,211)\nTotal revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,543 26,989 4,554\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919 1,840 (79)\nPurchased energy and other cost of sales(d)\n. . . . . . . . . . . . . . . . . . . . . . . . 24,984 19,770 (5,214)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (1,331) (2,880) (1,549)\nContract and emissions credit amortization(d)\n. . . . . . . . . . . . . . . . . . . . . . 111 43 (68)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,352 1,370 18\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 339 (72)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,446 20,482 (6,964)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 634 785 151\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 544 338\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,228 1,293 65\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 698 687\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 52 93 41\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,577 23,895 (5,682)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 247 (195)\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,018 3,341 (1,323)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 6 17 (11)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 63 (7)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (77) 77\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (417) (485) 68\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (355) (482) 127\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,663 2,859 (1,196)\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442 672 (230)\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,221 $ 2,187 $ (966)\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 6.64 $ 3.84 73 %\n(a) (b) (c) (d) Includes the impact of Winter Storm Uri\nIncludes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as revenues less cost of fuel, purchased\nenergy and other costs of sales, mark-to-market",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_revenue",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Revenues: 31'543m",
      "golden_context": "Page 48:\n\nConsolidated Results of Operations for the years ended December 31, 2022 and 2021\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2022 2021(a) Change\nRevenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 29,722 $ 23,561 $ 6,161\nEnergy revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250 1,215 35\nCapacity revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 775 (503)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (83) (164) 81\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39) (30) (9)\nOther revenues(b)(c)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 421 1,632 (1,211)\nTotal revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,543 26,989 4,554\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919 1,840 (79)\nPurchased energy and other cost of sales(d)\n. . . . . . . . . . . . . . . . . . . . . . . . 24,984 19,770 (5,214)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (1,331) (2,880) (1,549)\nContract and emissions credit amortization(d)\n. . . . . . . . . . . . . . . . . . . . . . 111 43 (68)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,352 1,370 18\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 339 (72)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,446 20,482 (6,964)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 634 785 151\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 544 338\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,228 1,293 65\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 698 687\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 52 93 41\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,577 23,895 (5,682)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 247 (195)\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,018 3,341 (1,323)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 6 17 (11)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 63 (7)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (77) 77\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (417) (485) 68\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (355) (482) 127\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,663 2,859 (1,196)\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442 672 (230)\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,221 $ 2,187 $ (966)\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 6.64 $ 3.84 73 %\n(a) (b) (c) (d) Includes the impact of Winter Storm Uri\nIncludes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as revenues less cost of fuel, purchased\nenergy and other costs of sales, mark-to-market",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_revenue_growth",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 31'543m, prior year: 23'561m",
      "golden_context": "Page 48:\n\nConsolidated Results of Operations for the years ended December 31, 2022 and 2021\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions, except otherwise noted) 2022 2021(a) Change\nRevenues\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 29,722 $ 23,561 $ 6,161\nEnergy revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250 1,215 35\nCapacity revenue(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 775 (503)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (83) (164) 81\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39) (30) (9)\nOther revenues(b)(c)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 421 1,632 (1,211)\nTotal revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,543 26,989 4,554\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,919 1,840 (79)\nPurchased energy and other cost of sales(d)\n. . . . . . . . . . . . . . . . . . . . . . . . 24,984 19,770 (5,214)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . (1,331) (2,880) (1,549)\nContract and emissions credit amortization(d)\n. . . . . . . . . . . . . . . . . . . . . . 111 43 (68)\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,352 1,370 18\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 339 (72)\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,446 20,482 (6,964)\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 634 785 151\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 544 338\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,228 1,293 65\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 698 687\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 52 93 41\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,577 23,895 (5,682)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 247 (195)\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,018 3,341 (1,323)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 6 17 (11)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 63 (7)\nLoss on debt extinguishment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (77) 77\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (417) (485) 68\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (355) (482) 127\nIncome Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,663 2,859 (1,196)\nIncome tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442 672 (230)\nNet Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,221 $ 2,187 $ (966)\nBusiness Metrics\nAverage natural gas price — Henry Hub ($/MMBtu) . . . . . . . . . . . . . . . . . $ 6.64 $ 3.84 73 %\n(a) (b) (c) (d) Includes the impact of Winter Storm Uri\nIncludes realized gains and losses from financially settled transactions\nIncludes trading gains and losses and ancillary revenues\nIncludes amortization of SO2 and NOx credits and excludes amortization of RGGI credits\nGross Margin\nThe Company calculates gross margin in order to evaluate operating performance as revenues less cost of fuel, purchased\nenergy and other costs of sales, mark-to-market",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000401_segments",
      "report_id": "ID_000401",
      "company_name": "NRG",
      "year": 2022,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Texas, East, West/Services/Other, Corporate activities.\n\nThe Company’s core business is the sale of electricity and natural gas to residential, commercial and industrial and wholesale customers, supported by the Company's wholesale generation.",
      "golden_context": "Page 8:\n\nptimization of the Company's core power and natural gas sales, as well as integrated solution sales within its core\nnetwork in both power and home services. The planned acquisition of Vivint announced in December 2022 will be the primary\ngrowth vehicle to achieve this plan.\nBusiness Overview\nThe Company’s core business is the sale of electricity and natural gas to residential, commercial and industrial and\nwholesale customers, supported by the Company's wholesale generation. NRG manages its operations based on the combined\nresults of the retail and wholesale generation businesses with a geographical focus.\nThe Company's business is segmented as follows:\n• Texas, which includes all activity related to customer, plant and market operations in Texas, other than Cottonwood;\n• East, which includes all activity related to customer, plant and market operations in the East;\n• West/Services/Other, which primarily includes the following assets and activities: (i) all activity related to customer,\nplant and market operations in the West and Canada, (ii) the services businesses, (iii) activity related to the\nCottonwood facility, (iv) the remaining renewables activity, including the Company’s equity method investment in\nIvanpah Master Holdings, LLC, and (v) activity related to the Company’s equity method investment for the Gladstone\npower plant in Australia; and\n• Corporate activities.\nIn Texas, the Company’s generation supply is fully integrated with its retail load. The integrated model provides the\nadvantage of being able to supply a portion of the Company’s retail customers with electricity from the Company’s assets,\nwhich reduces the need to sell electricity to and buy electricity from other institutions and intermediaries, resulting in stable\nearnings and cash flows, lower transaction costs and less credit exposure. The integrated model also results in a reduction in\nactual and contingent collateral through offsetting transactions, thereby reducing transactions with third parties.\nThe Company’s integrated model consists of three core functions: Customer Operations, Market Operations and Plant\nOperations, which directly support each other in each geographic region.\nCustomer Operations\nCustomer Operations is responsible for growing and retaining the customer base and delivering an outstanding customer\nexperience. This includes acquisition and retention of all of NRG’s residential, small commercial, government and commercial\n& industrial customers. NRG employs a multi-brand strategy that leverages a wide array of sales and partnership channels,\ndirect face-to-face sales channels, call centers, websites, and brokers. Go-to-market activities include market strategy planning\nand development, product innovation, offer design, campaign execution, marketing and creative services, and selling. Customer\nportfolio maintenance and retention activities include fulfillment, billing, payment processing, collections, customer service,\nissue resolution, and contract renewals. NRG provides energy and related services at either fixed, indexed or month-to-month\nprices. Home customers typically contract for terms ranging from one month to five years, while Business contracts are often\nbetween one year and five years in length. Throughout all Customer Operations activities, the customer experience is kept at the\nforefront to inform decision-making and optimize retention, while creating supporters and advocates for NRG’s brands in the\nmarket. Following the expansion of the customer base with the acquisition of Direct Energy in 2021, Customer Operations now\ncomprises three end-use customer facing teams: NRG Home, which serves residential customers, NRG Business, which serves\nbusiness customers, and NRG Services, which primarily includes the services businesses acquired.\nProduct Offerings\nNRG sells a variety of products to residential and small commercial customers, including retail electricity and energy\nmanagement, natural gas, home security, line and surge protection products, HVAC installation, repair and maintenance, home\nprotection products, carbon offsets, back-up power stations, portable power, portable solar and portable lighting. Home and\nServices customers make purchase decisions based on a variety of factors, including price, incentive, customer service, brand,\ninnovative offers/features and referrals from friends and family. Through its broad range of service offerings and value\npropositions, NRG is able to attract, retain, and increase the value of its customer relationships. NRG's brands are recognized\nfor exemplary customer service, innovative smart energy and technology product offerings, and environmentally-friendly\nsolutions.\nThe Company provides power and na",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_cash_flow",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "operating: -221m, investing: -910m, financing: -400m",
      "golden_context": "Page 64:\n\n—Note 27, Guarantees.\nObligations Arising Out of a Variable Interest in an Unconsolidated Entity\nVariable interest in Equity investments — NRG's investment in Ivanpah is a variable interest entity for which NRG is not\nthe primary beneficiary. See also Item 15 — Note 17, Investments Accounted for by the Equity Method and Variable Interest\nEntities, to the Consolidated Financial Statements for additional discussion. NRG's pro-rata share of non-recourse debt was\napproximately $461 million as of December 31, 2023. This indebtedness may restrict the ability of Ivanpah to issue dividends\nor distributions to NRG.\nCash Flow Discussion\n2023 compared to 2022\nThe following table reflects the changes in cash flows for the comparative years:\nYear ended December 31,\n(In millions) 2023 2022 Change\nCash (used)/provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (221) $ 360 $ (581)\nCash used by investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (910) (332) (578)\nCash (used)/provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (400) 1,043 (1,443)\nCash (used)/provided by operating activities\nChanges to cash (used)/provided by operating activities were driven by:\n(In millions)\nIncrease in operating income adjusted for other non-cash items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,892\nChanges in cash collateral in support of risk management activities due to change in commodity prices . . . . . . . (2,702)\nDecrease due to receipt of uplift securitization proceeds from ERCOT in 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . (689)\nDecrease in working capital primarily driven by Vivint Smart Home capitalized contract costs partially offset by\ndeferred revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (361)\nIncrease in working capital related to accrued personnel costs primarily due to the Company's annual incentive\nplan reflecting financial outperformance for 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188\nIncrease in working capital related to accounts receivable and inventory primarily due to lower gas and power\nmarket pricing coupled ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_company_type",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 1:\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nForm 10-K\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Fiscal Year ended December 31, 2023.\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the Transition period from to .\nCommission file No. 001-15891\nNRG Energy, Inc.\n(Exact name of registrant as specified in its charter)\nDelaware\n(State or other jurisdiction of incorporation or organization)\n41-1724239\n(I.R.S. Employer Identification No.)\n910 Louisiana Street, Houston, Texas\n(Address of principal executive offices)\n77002\n(Zip Code)\n(713) 537-3000\n(Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of Each Class Trading Symbol(s) Name of Exchange on Which Registered\nCommon Stock, par value $0.01 NRG New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during\nthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the\npast 90 days. Yes ☒ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such\nfiles). Yes ☒ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an\nemerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in\nRule 12b-2 of the Exchange Act.\nLarge Accelerated Filer ☒ Non-accelerated filer ☐ Accelerated filer ☐\nSmaller reporting company ☐\nEmerging growth company ☐\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any\nnew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\nIndicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal\ncontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared\nor issued its audit report ☒\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in\nthe filing reflect the correction of an error to previously issued financial statements. ☐\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒\nAs of the last business day of the most recently completed second fiscal quarter, the aggregate market value of the common stock of the registrant\nheld by non-affiliates was approximately $6,266,747,422 based on the closing sale price of $37.39 as reported on the New York Stock Exchange.\nIndicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.\nClass Outstanding at February 1, 2024\nCommon Stock, par value $0.01 per share 208,021,012\nDocuments Incorporated by Reference:\nPortions of the Registrant's definitive Proxy Statement relating to its 2024 Annual Meeting of Stockholders\nare incorporated by reference into Part III of this Annual Report on Form 10-K",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_key_financials",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 28823m, operating income: 384m, net income: -202m",
      "golden_context": "Page 48:\n\nonsolidated Results of Operations for the years ended December 31, 2023 and 2022\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions) 2023 2022 Change\nRevenue\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27,467 $ 29,722 $ (2,255)\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 553 1,250 (697)\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 272 (75)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 144 (83) 227\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32) (39) 7\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 494 421 73\nTotal revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,823 31,543 (2,720)\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 992 1,919 927\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 20,647 24,984 4,337\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 3,007 (1,331) (4,338)\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 93 111 18\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,397 1,352 (45)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 390 411 21\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,526 27,446 920\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,127 634 (493)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 206 180\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,968 1,228 (740)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 11 (240)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 119 52 (67)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,017 29,577 (440)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,578 52 1,526\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 384 2,018 (1,634)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 16 6 10\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (102) — (102)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 56 (9)\nGain on debt extinguishment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 — 109\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (667) (417) (250)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (597) (355) (242)\n(Loss)/Income Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . (213) 1,663 (1,876)\nIncome tax (benefit)/expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11) 442 (453)\nNet (Loss)/Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_revenue",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Revenue: 28823m",
      "golden_context": "Page 48:\n\nonsolidated Results of Operations for the years ended December 31, 2023 and 2022\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions) 2023 2022 Change\nRevenue\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27,467 $ 29,722 $ (2,255)\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 553 1,250 (697)\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 272 (75)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 144 (83) 227\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32) (39) 7\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 494 421 73\nTotal revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,823 31,543 (2,720)\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 992 1,919 927\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 20,647 24,984 4,337\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 3,007 (1,331) (4,338)\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 93 111 18\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,397 1,352 (45)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 390 411 21\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,526 27,446 920\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,127 634 (493)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 206 180\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,968 1,228 (740)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 11 (240)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 119 52 (67)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,017 29,577 (440)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,578 52 1,526\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 384 2,018 (1,634)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 16 6 10\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (102) — (102)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 56 (9)\nGain on debt extinguishment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 — 109\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (667) (417) (250)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (597) (355) (242)\n(Loss)/Income Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . (213) 1,663 (1,876)\nIncome tax (benefit)/expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11) 442 (453)\nNet (Loss)/Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_revenue_growth",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 28823m, prior year 29722m",
      "golden_context": "Page 48:\n\nonsolidated Results of Operations for the years ended December 31, 2023 and 2022\nThe following table provides selected financial information for the Company:\nYear Ended December 31,\n(In millions) 2023 2022 Change\nRevenue\nRetail revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27,467 $ 29,722 $ (2,255)\nEnergy revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 553 1,250 (697)\nCapacity revenue(a)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 272 (75)\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 144 (83) 227\nContract amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32) (39) 7\nOther revenues(a)(b)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 494 421 73\nTotal revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,823 31,543 (2,720)\nOperating Costs and Expenses\nCost of fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 992 1,919 927\nPurchased energy and other cost of sales(c)\n. . . . . . . . . . . . . . . . . . . . . . . . 20,647 24,984 4,337\nMark-to-market for economic hedging activities . . . . . . . . . . . . . . . . . . . 3,007 (1,331) (4,338)\nContract and emissions credit amortization(c)\n. . . . . . . . . . . . . . . . . . . . . . 93 111 18\nOperations and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,397 1,352 (45)\nOther cost of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 390 411 21\nCost of operations (excluding depreciation and amortization shown\nbelow) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,526 27,446 920\nDepreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,127 634 (493)\nImpairment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 206 180\nSelling, general and administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . 1,968 1,228 (740)\nProvision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 11 (240)\nAcquisition-related transaction and integration costs . . . . . . . . . . . . . . . . 119 52 (67)\nTotal operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,017 29,577 (440)\nGain on sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,578 52 1,526\nOperating Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 384 2,018 (1,634)\nOther Income/(Expense)\nEquity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . 16 6 10\nImpairment losses on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (102) — (102)\nOther income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 56 (9)\nGain on debt extinguishment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 — 109\nInterest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (667) (417) (250)\nTotal other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (597) (355) (242)\n(Loss)/Income Before Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . (213) 1,663 (1,876)\nIncome tax (benefit)/expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11) 442 (453)\nNet (Loss)/Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000402_segments",
      "report_id": "ID_000402",
      "company_name": "NRG",
      "year": 2023,
      "country": "US",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Texas, East, West/Services/Other, Corporate activities.\n\nThe Company’s core business is the sale of electricity and natural gas to residential, commercial and industrial and wholesale customers, supported by the Company's wholesale generation.",
      "golden_context": "Page 8:\n\nivint Smart Home, a leading smart home platform company; (ii) portfolio optimization, including the sale of the\nCompany’s 44% equity interest in STP for $1.7 billion; and (iii) disciplined capital allocation through the execution of $1.2\nbillion in share repurchases and $1.4 billion in debt reduction.\nBusiness Overview\nThe Company’s core businesses are the sale of electricity and natural gas to residential, commercial and industrial and\nwholesale customers, supported by the Company's wholesale electric generation, as well as the sale of smart home products and\nservices. NRG manages its electricity and natural gas operations based on the combined results of the retail and wholesale\ngeneration businesses with a geographical focus. Vivint Smart Home operations are reported within the Vivint Smart Home\nsegment.\nThe Company's business is segmented as follows:\n• Texas, which includes all activity related to customer, plant and market operations in Texas, other than Cottonwood;\n• East, which includes all activity related to customer, plant and market operations in the East;\n• West/Services/Other, which primarily includes the following assets and activities: (i) all activity related to customer,\nplant and market operations in the West and Canada, (ii) the Services businesses, (iii) activity related to the\nCottonwood facility and other investments;\n• Vivint Smart Home; and\n• Corporate activities.\nIn Texas, the Company’s generation supply is fully integrated with its retail load. This integrated model provides the\nadvantage of being able to supply a portion of the Company’s retail customers with electricity from the Company’s assets,\nwhich reduces the need to sell electricity to, and buy electricity from, other institutions and intermediaries, resulting in more\nstable earnings and cash flows, lower transaction costs and less credit exposure. The integrated model also results in a reduction\nin actual and contingent collateral through offsetting transactions, thereby reducing transactions with third parties.\nThe integrated model consists of three core functions in each geographic segment above: Customer Operations, Market\nOperations and Plant Operations.\nCustomer Operations\nCustomer Operations is responsible for growing and retaining the customer base and delivering an outstanding customer\nexperience. This includes acquisition and retention of all of NRG’s residential, small commercial, commercial and industrial,\nand government customers. NRG employs a multi-brand strategy that leverages a wide array of sales and partnership channels,\ndirect face-to-face sales channels, call centers, websites, and brokers. Go-to-market activities include market strategy planning\nand development, product innovation, offer design, campaign execution, marketing and creative services, and selling. Customer\nportfolio maintenance and retention activities include fulfillment, billing, payment processing, collections, customer service,\nissue resolution, and contract renewals. NRG provides energy and related services at either fixed, indexed or month-to-month\nprices. Home customers typically contract for terms ranging from one month to five years, while Business contracts are often\nbetween one year and five years in length. Throughout all Customer Operations activities, the customer experience is kept at the\nforefront to inform decision-making and optimize retention, while creating supporters and advocates for NRG’s brands in the\nmarket. Customer Operations comprises three end-use customer facing teams: NRG Home, which serves residential customers,\nNRG Business, which serves business customers, and NRG Services, which primarily includes the Services businesses.\nProduct Offerings\nNRG sells a variety of products to residential and small commercial customers, including retail electricity and energy\nmanagement, natural gas, line and surge protection products, HVAC installation, repair and maintenance, home protection\nproducts, carbon offsets, back-up power stations, portable power, portable solar and portable lighting. Home and Services\ncustomers make purchase decisions bas",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_cash_flow",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Net cash flows from operating activities 64bn\nnet cash flows from investment activities: -5.6bn\nnet cash flows from financing activities: -27bn",
      "golden_context": "Page 9:\n\nThirdly, the new business performance is remarkable. The Company has achieved a total operating\nproceeds of CNY 109.46 billion, an increase of 11.71% year-on-year; the total profit is CNY 74.53\nbillion, a year-on-year increase of 12.59%; the net profit attributable to the owner of the parent\ncompany is CNY 52.46 billion, with a year-on-year increase of 12.34%. All indicators have\nmaintained double-digit growth, and the comprehensive strength of the Company has once again\nreached a new level.\n5.1Main business analysis\nA.Analysis of accounting item changes related to the income statement and the cash flow\nstatement\nUnit: CNY\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change (%)\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88\nOperating costs 8,983,377,809.96 8,154,001,476.28 10.17\nSales expenses 2,737,369,434.78 2,547,745,650.95 7.44\n9 / 157\nANNUAL REPORT 2021\nGeneral and administrative\nexpenses\n8,450,274,065.03 6,789,844,289.39 24.45\nFinancial expenses -934,523,406.02 -234,610,582.44 N/A\nR&D expenses 61,923,213.59 50,398,036.33 22.87\nNet cash flows from operating\nactivities\n64,028,676,147.37 51,669,068,693.03 23.92\nNet cash flows from investment\nactivities\n-1,805,227,155.72 N/A\nNet cash flows from financing\nactivities\n-26,564,141,388.96 -24,127,536,908.26 N/A\n-5,562,445,704.34 Causes for the operating proceeds change: mainly due to the increase of sales and the product\nstructure change in the reporting period.\nCauses for the operating expense change: majorly due to the sales increase, the production cost\nincrease, and the product structure change in the reporting period.\nCauses for the sales expense change: mainly due to the advertising and marketing expense increases\nfor the the Moutai-flavor series liquor in the reporting per\n\nPage 6:\n\n7. Last Years’ Key Accounting Data and Financial Indicators\n7.1 Key accounting data\nUnit: CNY\nKey accounting date 2021 2020 Change (%) 2019\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88 85,429,573,467.25\nNet profits attributable to\nshareholders of the Public\nCompany\n52,460,144,378.16 46,697,285,429.81 12.34 41,206,471,014.43\nNet profits attributable to\nshareholders of the Public\nCompany after deducting\nnon-recurring gains and\nlosses\n52,581,102,656.24 47,016,420,742.73 11.84 41,406,909,012.08\nNet cash flows from\noperating activities\n64,028,676,147.37 51,669,068,693.03 23.92 45,210,612,632.56\n31 December\n2021 31 December 2020\nChanges of\nthe Same\nPeriod(%)\n31 December\n2019\nNet assets attributable to\nshareholders of the Company\n189,539,368,797.29 161,322,735,087.56 17.49 136,010,349,875.11\nTotal assets 255,168,195,159.90 213,395,810,527.46 19.58 183,042,372,042.50\nShare capital 1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\n7.2 Key financial indicators\nKey financial indicators 2021 2020 Change (%) 2019\nBasic earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nDiluted earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nBasic earnings per share after non-recurring\ngains and losses (CNY/share)\n41.86 37.43 11.84 32.96\nWeighted average ROE (%) 29.90 31.41 -1.51 33.09\nWeighted average ROE after non-recurring 29.97 31.63 -1.66 33.25\n6 / 157\nANNUAL REPORT 2021\ngains and losses (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_company_type",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nANNUAL REPORT 2021\nStock Code: 600519 Stock Abbr.: Kweichow Moutai\nKWEICHOW MOUTAI CO., LTD.\nANNUAL REPORT 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_key_financials",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Operating proceeds 106,190,154,843.76 \nnet profits attributable to shareholders of the Public Company: 52bn\nBasic EPS: 41.76\nDiluted EPS: 41.76",
      "golden_context": "Page 6:\n\n7. Last Years’ Key Accounting Data and Financial Indicators\n7.1 Key accounting data\nUnit: CNY\nKey accounting date 2021 2020 Change (%) 2019\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88 85,429,573,467.25\nNet profits attributable to\nshareholders of the Public\nCompany\n52,460,144,378.16 46,697,285,429.81 12.34 41,206,471,014.43\nNet profits attributable to\nshareholders of the Public\nCompany after deducting\nnon-recurring gains and\nlosses\n52,581,102,656.24 47,016,420,742.73 11.84 41,406,909,012.08\nNet cash flows from\noperating activities\n64,028,676,147.37 51,669,068,693.03 23.92 45,210,612,632.56\n31 December\n2021 31 December 2020\nChanges of\nthe Same\nPeriod(%)\n31 December\n2019\nNet assets attributable to\nshareholders of the Company\n189,539,368,797.29 161,322,735,087.56 17.49 136,010,349,875.11\nTotal assets 255,168,195,159.90 213,395,810,527.46 19.58 183,042,372,042.50\nShare capital 1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\n7.2 Key financial indicators\nKey financial indicators 2021 2020 Change (%) 2019\nBasic earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nDiluted earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nBasic earnings per share after non-recurring\ngains and losses (CNY/share)\n41.86 37.43 11.84 32.96\nWeighted average ROE (%) 29.90 31.41 -1.51 33.09\nWeighted average ROE after non-recurring 29.97 31.63 -1.66 33.25\n6 / 157\nANNUAL REPORT 2021\ngains and losses (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_revenue",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Operating proceeds 106,190,154,844",
      "golden_context": "Page 9:\n\nThirdly, the new business performance is remarkable. The Company has achieved a total operating\nproceeds of CNY 109.46 billion, an increase of 11.71% year-on-year; the total profit is CNY 74.53\nbillion, a year-on-year increase of 12.59%; the net profit attributable to the owner of the parent\ncompany is CNY 52.46 billion, with a year-on-year increase of 12.34%. All indicators have\nmaintained double-digit growth, and the comprehensive strength of the Company has once again\nreached a new level.\n5.1Main business analysis\nA.Analysis of accounting item changes related to the income statement and the cash flow\nstatement\nUnit: CNY\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change (%)\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88\nOperating costs 8,983,377,809.96 8,154,001,476.28 10.17\nSales expenses 2,737,369,434.78 2,547,745,650.95 7.44\n9 / 157\nANNUAL REPORT 2021\nGeneral and administrative\nexpenses\n8,450,274,065.03 6,789,844,289.39 24.45\nFinancial expenses -934,523,406.02 -234,610,582.44 N/A\nR&D expenses 61,923,213.59 50,398,036.33 22.87\nNet cash flows from operating\nactivities\n64,028,676,147.37 51,669,068,693.03 23.92\nNet cash flows from investment\nactivities\n-1,805,227,155.72 N/A\nNet cash flows from financing\nactivities\n-26,564,141,388.96 -24,127,536,908.26 N/A\n-5,562,445,704.34 Causes for the operating proceeds change: mainly due to the increase of sales and the product\nstructure change in the reporting period.\nCauses for the operating expense change: majorly due to the sales increase, the production cost\nincrease, and the product structure change in the reporting period.\nCauses for the sales expense change: mainly due to the advertising and marketing expense increases\nfor the the Moutai-flavor series liquor in the reporting per\n\nPage 6:\n\n7. Last Years’ Key Accounting Data and Financial Indicators\n7.1 Key accounting data\nUnit: CNY\nKey accounting date 2021 2020 Change (%) 2019\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88 85,429,573,467.25\nNet profits attributable to\nshareholders of the Public\nCompany\n52,460,144,378.16 46,697,285,429.81 12.34 41,206,471,014.43\nNet profits attributable to\nshareholders of the Public\nCompany after deducting\nnon-recurring gains and\nlosses\n52,581,102,656.24 47,016,420,742.73 11.84 41,406,909,012.08\nNet cash flows from\noperating activities\n64,028,676,147.37 51,669,068,693.03 23.92 45,210,612,632.56\n31 December\n2021 31 December 2020\nChanges of\nthe Same\nPeriod(%)\n31 December\n2019\nNet assets attributable to\nshareholders of the Company\n189,539,368,797.29 161,322,735,087.56 17.49 136,010,349,875.11\nTotal assets 255,168,195,159.90 213,395,810,527.46 19.58 183,042,372,042.50\nShare capital 1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\n7.2 Key financial indicators\nKey financial indicators 2021 2020 Change (%) 2019\nBasic earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nDiluted earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nBasic earnings per share after non-recurring\ngains and losses (CNY/share)\n41.86 37.43 11.84 32.96\nWeighted average ROE (%) 29.90 31.41 -1.51 33.09\nWeighted average ROE after non-recurring 29.97 31.63 -1.66 33.25\n6 / 157\nANNUAL REPORT 2021\ngains and losses (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_revenue_growth",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Operating proceeds 106,190,154,844, prior year: 94,915,380,917",
      "golden_context": "Page 9:\n\nThirdly, the new business performance is remarkable. The Company has achieved a total operating\nproceeds of CNY 109.46 billion, an increase of 11.71% year-on-year; the total profit is CNY 74.53\nbillion, a year-on-year increase of 12.59%; the net profit attributable to the owner of the parent\ncompany is CNY 52.46 billion, with a year-on-year increase of 12.34%. All indicators have\nmaintained double-digit growth, and the comprehensive strength of the Company has once again\nreached a new level.\n5.1Main business analysis\nA.Analysis of accounting item changes related to the income statement and the cash flow\nstatement\nUnit: CNY\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change (%)\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88\nOperating costs 8,983,377,809.96 8,154,001,476.28 10.17\nSales expenses 2,737,369,434.78 2,547,745,650.95 7.44\n9 / 157\nANNUAL REPORT 2021\nGeneral and administrative\nexpenses\n8,450,274,065.03 6,789,844,289.39 24.45\nFinancial expenses -934,523,406.02 -234,610,582.44 N/A\nR&D expenses 61,923,213.59 50,398,036.33 22.87\nNet cash flows from operating\nactivities\n64,028,676,147.37 51,669,068,693.03 23.92\nNet cash flows from investment\nactivities\n-1,805,227,155.72 N/A\nNet cash flows from financing\nactivities\n-26,564,141,388.96 -24,127,536,908.26 N/A\n-5,562,445,704.34 Causes for the operating proceeds change: mainly due to the increase of sales and the product\nstructure change in the reporting period.\nCauses for the operating expense change: majorly due to the sales increase, the production cost\nincrease, and the product structure change in the reporting period.\nCauses for the sales expense change: mainly due to the advertising and marketing expense increases\nfor the the Moutai-flavor series liquor in the reporting per\n\nPage 6:\n\n7. Last Years’ Key Accounting Data and Financial Indicators\n7.1 Key accounting data\nUnit: CNY\nKey accounting date 2021 2020 Change (%) 2019\nOperating proceeds 106,190,154,843.76 94,915,380,916.72 11.88 85,429,573,467.25\nNet profits attributable to\nshareholders of the Public\nCompany\n52,460,144,378.16 46,697,285,429.81 12.34 41,206,471,014.43\nNet profits attributable to\nshareholders of the Public\nCompany after deducting\nnon-recurring gains and\nlosses\n52,581,102,656.24 47,016,420,742.73 11.84 41,406,909,012.08\nNet cash flows from\noperating activities\n64,028,676,147.37 51,669,068,693.03 23.92 45,210,612,632.56\n31 December\n2021 31 December 2020\nChanges of\nthe Same\nPeriod(%)\n31 December\n2019\nNet assets attributable to\nshareholders of the Company\n189,539,368,797.29 161,322,735,087.56 17.49 136,010,349,875.11\nTotal assets 255,168,195,159.90 213,395,810,527.46 19.58 183,042,372,042.50\nShare capital 1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\n7.2 Key financial indicators\nKey financial indicators 2021 2020 Change (%) 2019\nBasic earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nDiluted earnings per share (CNY/share) 41.76 37.17 12.34 32.80\nBasic earnings per share after non-recurring\ngains and losses (CNY/share)\n41.86 37.43 11.84 32.96\nWeighted average ROE (%) 29.90 31.41 -1.51 33.09\nWeighted average ROE after non-recurring 29.97 31.63 -1.66 33.25\n6 / 157\nANNUAL REPORT 2021\ngains and losses (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000403_segments",
      "report_id": "ID_000403",
      "company_name": "Kweichow Moutai Co",
      "year": 2021,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Liquor",
      "golden_context": "Page 10:\n\nCauses for the sales expense change: mainly due to the advertising and marketing expense increases\nfor the the Moutai-flavor series liquor in the reporting period.\nCauses for the general and administrative expense change: mainly due to employee compensation\nincrease and maintenance cost increase in the reporting period.\nCauses for the financial expense change: mainly due to the increase of commercial bank interest\nincome increase in the reporting period.\nCauses for the R&D expense change: majorly due to the increase of R&D project increases in the\nreporting period.\nCauses for the Net cash flow change from operating activities: mainly due to the increase of cash\nreceived from sales of goods and rendering of services in the reporting period.\nCauses for the Net cash flow change from investment activities: mainly due to the increase of cash\npayment used to buy certificates of deposit in the reporting period.\nCauses for Net cash flow change from financing activities: mainly caused by the increase of cash\ndividend distribution in the reporting period.\nDetailed reasons for any significant changes to the business type, profit structure or profit sources of\nthe Company in the reporting period.\n□Applicable √N/A\nB. Income and cost analysis\n√Applicable □N/A\na. Main business grouped by business segment, by product, by geographical zoning and by sales\nmodel.\nUnit: CNY\nMain business grouped by business segment\nBusiness\nsegment Operating proceeds Operating costs\nGross\nprofit\nmargin\nYoY\nChange of\noperating\nproceeds\n(%)\nYoY\nchange of\noperating\ncosts (%)\nYoY change\nof gross\nprofit margin\n(%)\nLiquor 106,059,290,342.18 8,890,990,510.7\n2\n91.62 11.85 9.99 0.14\nMain business grouped by product\n10 / 157\nANNUAL REPORT 2021\nProduct Operating proceeds Operating costs\nGross\nprofit\nmargin\nYoY\nChange of\noperating\nproceeds\n(%)\nYoY\nchange of\noperating\ncosts (%)\nYoY change\nof gross\nprofit margin\n(%)\nMoutai 93,464,512,115.94 5,577,910,539.0\n0\n94.03 10.18 9.36 0.04\nOther liquor 12,594,778,226.24 3,313,079,971.7\n2\n73.69 26.06 11.06 3.55\nMain business grouped by geographical zoning\nGeographic\nal zonging Operating proceeds Operating costs\nGross\nprofit\nmargin\nYoY\nChange of\noperating\nproceeds\n(%)\nYoY\nchange of\noperating\ncosts (%)\nYoY change\nof gross\nprofit margin\n(%)\nDomestic 103,440,817,492.55 8,649,283,176.1\n8\n91.64 11.96 9.83 0.16\nOverseas 2,618,472,849.63 241,707,334.54 90.77 7.66 15.96 -0.66\nMain business condition by sales model\nSales model Operating proceeds Operating costs\nGross\nprofit\nmargin\nYoY\nChange of\nOperating\nproceeds\n(%)\nYoY\nchange of\noperating\ncosts (%)\nYoY change\nof gross\nprofit margin\n(%)\nWholesale\nagency\n82,029,927,984.26 7,958,382,622.4\n8\n90.30 0.55 6.06 -0.50\nDirect sales 24,029,362,357.92 932,607,888.24 96.12 81.49 60.89 0.50\nb. Analysis of production volume, sales volume and inventory\n√Applicable □N/A\nMain\nproduct Unit Production\nvolume\nSales\nvolume Inventory\nYoY\nchange of\nproduction\nvolume\n(%)\nYoY\nchange of\nsales\nvolume\n(%)\nYoY change of\ninventory (%)\nLiquor Ton 84,721.17 66,438.69 260,746.17 12.72 3.72 4.62\nc. Execution situation of major acquisition contracts and major sales contracts\n□Applicable √N/A\nd. Coast Analysis Table\nUnit: CNY\nCondition by business segment\nBy\nbusines\ns\nsegmen\nt\nMain\nbreakdown\nitems of cost\nAmount in the\nreporting\nperiod\nAs %\nof\ntotal\ncost\n(%)\nAmount in the\nsame\nreporting\nperiod of\nprevious year\nAs % of\ntotal\ncost in\npreviou\ns year\n(%)\nYoY\nchang\ne (%)\nDescriptio\nn of\nreasons\nLiquor 8,890,990,510.7\n2\n100 8,083,371,418.2\n4\n100 9.99\nCondition by product\nBy\nproduct\nMain\nbreakdown\nitems of cost\nAmount in the\nreporting\nperiod\nAs %\nof\ntotal\nAmount in the\nsame\nreporting\nAs % of\ncost\nin\nYoY\nchang\ne (%)\nDescriptio\nn of\nreasons\n11 / 157\nANNUAL REPORT 2021\ncos",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_cash_flow",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Net cash flows from operating activities: 37bn, investing: -6bn, financing: -57bn",
      "golden_context": "Page 10:\n\nantly improved. The Company started the capacity expansion of Moutai and dealt with a number\nof long-delayed legacy projects. It started more than 100 scientific and technological projects.\nFifth, a hymn of “courage” was composed with the fact that the Company overcame difficulties and\nforged ahead. The Company united to overcame the difficulties together, insisted on the principle of not\nleaving the front line on account of minor wounds, and made every effort to ensure the normal operation\nof production. All posts and lines wrote a touching and unforgettable chapter of struggle.\n5.1 Main business analysis\nA. Analysis of accounting item changes related to the income statement and the cash flow statement\nUnit: CNY\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change (%)\nOperating revenue 124,099,843,771.99 106,190,154,843.76 16.87\nOperating costs 10,093,468,616.63 8,983,377,809.96 12.36\nSales expenses 3,297,724,190.94 2,737,369,434.78 20.47\nGeneral and administrative\nexpenses 9,012,191,073.63 8,450,274,065.03 6.65\nFinancial expenses -1,391,805,826.72 -934,523,406.02 N/A\nR&D expenses 135,185,680.40 61,923,213.59 118.31\nNet cash flows from operating\nactivities 64,028,676,147.37 -42.68\nNet cash flows from investment\nactivities\n-5,536,826,334.90 -5,562,445,704.34 N/A\nNet cash flows from financing\nactivities\n-57,424,528,979.83 -26,564,141,388.96 N/A\n36,698,595,830.03 Causes for the operating revenue change: mainly due to the increase of sales volume and the change of\nproduct structure in the reporting period.\nCauses for the operating expense change: majorly due to the sales increase, the production costs increase,\nand the product structure change in the reporting period.\nCauses for the sales expense change: mainly due to the advertising and marketing expense increases for\nthe Moutai-flavor series liquor in the reporting period.\nCauses for the general and administrative expense change: mainly due to the increase in trademark\nlicense fees and depreciation of fixed assets in the reporting period.\nCauses for the financial expense change: mainly due to the increase of commercial bank interest income\nincrease in the reporting period.\nCauses for the R&D expense change: majorly due to the increase of R&D project increases in the reporting\nperiod.\nCauses for the Net cash flow change from operating activities: first, the group company transferred the\nequity of Guizhou Xijiu Co., Ltd., which is no longer a member of the company’s holding subsidiary\nKweichow Moutai Group Finance Co., Ltd, resulting the customer deposits to reduce ; Second, the\ncompany's holding subsidiary, Kweichow Moutai Group Finance Co., Ltd., had a net increase in\nDeposits with other banks that cannot be withdrawn at any time in Page 6:\n\n6. Other information\nName Baker Tilly China CPAs\nOffice address Appointed\naccounting firm\n(domestic)\nBuilding 12, Foreign Language Culture and Creativity Park,\n19 Chegongzhuang West Road, Haidian District, Beijing\nName of the\nsigning\naccountant\nTong Wenguang, Liu Zonglei, Yang Shu\n7. Key Accounting Data and Financial Indicators in the past three years\n7.1 Key accounting data\nUnit: CNY\nKey accounting data 2022 2021 Change (%) 2020\nOperating revenue 124,099,843,771.99 106,190,154,843.76 16.87 94,915,380,916.72\nNet profits attributable to\nshareholders of the Public\nCompany\n62,716,443,738.27 52,460,144,378.16 19.55 46,697,285,429.81\nNet profits attributable to\nshareholders of the Public\nCompany after deducting non-\nrecurring gains and losses\n62,791,872,697.72 52,581,102,656.24 19.42 47,016,420,742.73\nNet cash flows from operating\nactivities -42.68 51,669,068,693.03\n36,698,595,830.03 64,028,676,147.37\n31 December 2022 31 December 2021\nChanges of\nthe Same\nPeriod(%)\n31 December 2020\nNet assets attributable to\nshareholders of the Company 197,506,672,396.00 189,539,368,797.29 4.20 161,322,735,087.56\nTotal assets 254,364,804,995.25 -0.31 213,395,810,527.46\nShare capital 1,256,197,800.00 1,256,197,800.00\n255,168,195,159.90 1,256,197,800.00 Note: Causes for the decrease in Net cash flows from operating activities: first, the group company\ntransferred the equity of Guizhou Xijiu Co., Ltd., which is no longer a member of the company’s holding\nsubsidiary Kweichow Moutai Group Finance Co., Ltd, resulting the customer deposits to reduce ; Second,\nthe company's holding subsidiary, Kweichow Moutai Group Finance Co., Ltd., had a net increase in\nDeposits with other banks that cannot be withdrawn at any time in the current period.\n7.2 Key financial indicators\nKey financial indicators Basic earnings per share\n(CNY/share) 2022 2021 Change (%) 2020\n49.93 41.76 19.55 37.17\nDiluted earnings per share\n(CNY/share) 49.93 41.76 19.55 37.17\nBasic earnings per share after\nnon-recurring gains and losses 49.99 41.86 19.42 37.43\n6 / 158\nANNUAL REPORT 2022\n(CNY/share)\nWeighted average ROE (%) 30.26 29.90 Increase by 0.36\npercentage point(s) 31.41\nrecurring gains and losses (%) Weighted average ROE after non-\n30.29 29.97 percentage point(s) Increase by 0.32\n31.63\n8. Differences in accounting data by domestic and overseas accounting standards\n8.1 Differences in the net profits and net assets attributable to shareholders of the company disclosed\nin the financial reports prepared under the international accounting standards and China\naccounting standards\n□Applicable √N/A\n8.2 Differences in the net profits and net assets attributable to shareholders of the Company\ndisclosed in the financial reports prepared under the overseas accounting standards and China\naccounting standards\n□Applicable √N/A\n8.3 Explanations for above accounting data differences",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_company_type",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Ltd.",
      "golden_context": "Page 1:\n\nANNUAL REPORT 2022\nStock Code: 600519 Stock Abbr.: Kweichow Moutai\nKWEICHOW MOUTAI CO., LTD.\nANNUAL REPORT 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_key_financials",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue 124bn, Net profits attributable to shareholders of the Public Company after deducting non-recurring gains and losses: 63bn, basic EPS: 49.93",
      "golden_context": "Page 6:\n\n6. Other information\nName Baker Tilly China CPAs\nOffice address Appointed\naccounting firm\n(domestic)\nBuilding 12, Foreign Language Culture and Creativity Park,\n19 Chegongzhuang West Road, Haidian District, Beijing\nName of the\nsigning\naccountant\nTong Wenguang, Liu Zonglei, Yang Shu\n7. Key Accounting Data and Financial Indicators in the past three years\n7.1 Key accounting data\nUnit: CNY\nKey accounting data 2022 2021 Change (%) 2020\nOperating revenue 124,099,843,771.99 106,190,154,843.76 16.87 94,915,380,916.72\nNet profits attributable to\nshareholders of the Public\nCompany\n62,716,443,738.27 52,460,144,378.16 19.55 46,697,285,429.81\nNet profits attributable to\nshareholders of the Public\nCompany after deducting non-\nrecurring gains and losses\n62,791,872,697.72 52,581,102,656.24 19.42 47,016,420,742.73\nNet cash flows from operating\nactivities -42.68 51,669,068,693.03\n36,698,595,830.03 64,028,676,147.37\n31 December 2022 31 December 2021\nChanges of\nthe Same\nPeriod(%)\n31 December 2020\nNet assets attributable to\nshareholders of the Company 197,506,672,396.00 189,539,368,797.29 4.20 161,322,735,087.56\nTotal assets 254,364,804,995.25 -0.31 213,395,810,527.46\nShare capital 1,256,197,800.00 1,256,197,800.00\n255,168,195,159.90 1,256,197,800.00 Note: Causes for the decrease in Net cash flows from operating activities: first, the group company\ntransferred the equity of Guizhou Xijiu Co., Ltd., which is no longer a member of the company’s holding\nsubsidiary Kweichow Moutai Group Finance Co., Ltd, resulting the customer deposits to reduce ; Second,\nthe company's holding subsidiary, Kweichow Moutai Group Finance Co., Ltd., had a net increase in\nDeposits with other banks that cannot be withdrawn at any time in the current period.\n7.2 Key financial indicators\nKey financial indicators Basic earnings per share\n(CNY/share) 2022 2021 Change (%) 2020\n49.93 41.76 19.55 37.17\nDiluted earnings per share\n(CNY/share) 49.93 41.76 19.55 37.17\nBasic earnings per share after\nnon-recurring gains and losses 49.99 41.86 19.42 37.43\n6 / 158\nANNUAL REPORT 2022\n(CNY/share)\nWeighted average ROE (%) 30.26 29.90 Increase by 0.36\npercentage point(s) 31.41\nrecurring gains and losses (%) Weighted average ROE after non-\n30.29 29.97 percentage point(s) Increase by 0.32\n31.63\n8. Differences in accounting data by domestic and overseas accounting standards\n8.1 Differences in the net profits and net assets attributable to shareholders of the company disclosed\nin the financial reports prepared under the international accounting standards and China\naccounting standards\n□Applicable √N/A\n8.2 Differences in the net profits and net assets attributable to shareholders of the Company\ndisclosed in the financial reports prepared under the overseas accounting standards and China\naccounting standards\n□Applicable √N/A\n8.3 Explanations for above accounting data differences",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_revenue",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Operating revenue 124bn",
      "golden_context": "Page 6:\n\n6. Other information\nName Baker Tilly China CPAs\nOffice address Appointed\naccounting firm\n(domestic)\nBuilding 12, Foreign Language Culture and Creativity Park,\n19 Chegongzhuang West Road, Haidian District, Beijing\nName of the\nsigning\naccountant\nTong Wenguang, Liu Zonglei, Yang Shu\n7. Key Accounting Data and Financial Indicators in the past three years\n7.1 Key accounting data\nUnit: CNY\nKey accounting data 2022 2021 Change (%) 2020\nOperating revenue 124,099,843,771.99 106,190,154,843.76 16.87 94,915,380,916.72\nNet profits attributable to\nshareholders of the Public\nCompany\n62,716,443,738.27 52,460,144,378.16 19.55 46,697,285,429.81\nNet profits attributable to\nshareholders of the Public\nCompany after deducting non-\nrecurring gains and losses\n62,791,872,697.72 52,581,102,656.24 19.42 47,016,420,742.73\nNet cash flows from operating\nactivities -42.68 51,669,068,693.03\n36,698,595,830.03 64,028,676,147.37\n31 December 2022 31 December 2021\nChanges of\nthe Same\nPeriod(%)\n31 December 2020\nNet assets attributable to\nshareholders of the Company 197,506,672,396.00 189,539,368,797.29 4.20 161,322,735,087.56\nTotal assets 254,364,804,995.25 -0.31 213,395,810,527.46\nShare capital 1,256,197,800.00 1,256,197,800.00\n255,168,195,159.90 1,256,197,800.00 Note: Causes for the decrease in Net cash flows from operating activities: first, the group company\ntransferred the equity of Guizhou Xijiu Co., Ltd., which is no longer a member of the company’s holding\nsubsidiary Kweichow Moutai Group Finance Co., Ltd, resulting the customer deposits to reduce ; Second,\nthe company's holding subsidiary, Kweichow Moutai Group Finance Co., Ltd., had a net increase in\nDeposits with other banks that cannot be withdrawn at any time in the current period.\n7.2 Key financial indicators\nKey financial indicators Basic earnings per share\n(CNY/share) 2022 2021 Change (%) 2020\n49.93 41.76 19.55 37.17\nDiluted earnings per share\n(CNY/share) 49.93 41.76 19.55 37.17\nBasic earnings per share after\nnon-recurring gains and losses 49.99 41.86 19.42 37.43\n6 / 158\nANNUAL REPORT 2022\n(CNY/share)\nWeighted average ROE (%) 30.26 29.90 Increase by 0.36\npercentage point(s) 31.41\nrecurring gains and losses (%) Weighted average ROE after non-\n30.29 29.97 percentage point(s) Increase by 0.32\n31.63\n8. Differences in accounting data by domestic and overseas accounting standards\n8.1 Differences in the net profits and net assets attributable to shareholders of the company disclosed\nin the financial reports prepared under the international accounting standards and China\naccounting standards\n□Applicable √N/A\n8.2 Differences in the net profits and net assets attributable to shareholders of the Company\ndisclosed in the financial reports prepared under the overseas accounting standards and China\naccounting standards\n□Applicable √N/A\n8.3 Explanations for above accounting data differences",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_revenue_growth",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenue 124bn, prior year: 106bn",
      "golden_context": "Page 6:\n\n6. Other information\nName Baker Tilly China CPAs\nOffice address Appointed\naccounting firm\n(domestic)\nBuilding 12, Foreign Language Culture and Creativity Park,\n19 Chegongzhuang West Road, Haidian District, Beijing\nName of the\nsigning\naccountant\nTong Wenguang, Liu Zonglei, Yang Shu\n7. Key Accounting Data and Financial Indicators in the past three years\n7.1 Key accounting data\nUnit: CNY\nKey accounting data 2022 2021 Change (%) 2020\nOperating revenue 124,099,843,771.99 106,190,154,843.76 16.87 94,915,380,916.72\nNet profits attributable to\nshareholders of the Public\nCompany\n62,716,443,738.27 52,460,144,378.16 19.55 46,697,285,429.81\nNet profits attributable to\nshareholders of the Public\nCompany after deducting non-\nrecurring gains and losses\n62,791,872,697.72 52,581,102,656.24 19.42 47,016,420,742.73\nNet cash flows from operating\nactivities -42.68 51,669,068,693.03\n36,698,595,830.03 64,028,676,147.37\n31 December 2022 31 December 2021\nChanges of\nthe Same\nPeriod(%)\n31 December 2020\nNet assets attributable to\nshareholders of the Company 197,506,672,396.00 189,539,368,797.29 4.20 161,322,735,087.56\nTotal assets 254,364,804,995.25 -0.31 213,395,810,527.46\nShare capital 1,256,197,800.00 1,256,197,800.00\n255,168,195,159.90 1,256,197,800.00 Note: Causes for the decrease in Net cash flows from operating activities: first, the group company\ntransferred the equity of Guizhou Xijiu Co., Ltd., which is no longer a member of the company’s holding\nsubsidiary Kweichow Moutai Group Finance Co., Ltd, resulting the customer deposits to reduce ; Second,\nthe company's holding subsidiary, Kweichow Moutai Group Finance Co., Ltd., had a net increase in\nDeposits with other banks that cannot be withdrawn at any time in the current period.\n7.2 Key financial indicators\nKey financial indicators Basic earnings per share\n(CNY/share) 2022 2021 Change (%) 2020\n49.93 41.76 19.55 37.17\nDiluted earnings per share\n(CNY/share) 49.93 41.76 19.55 37.17\nBasic earnings per share after\nnon-recurring gains and losses 49.99 41.86 19.42 37.43\n6 / 158\nANNUAL REPORT 2022\n(CNY/share)\nWeighted average ROE (%) 30.26 29.90 Increase by 0.36\npercentage point(s) 31.41\nrecurring gains and losses (%) Weighted average ROE after non-\n30.29 29.97 percentage point(s) Increase by 0.32\n31.63\n8. Differences in accounting data by domestic and overseas accounting standards\n8.1 Differences in the net profits and net assets attributable to shareholders of the company disclosed\nin the financial reports prepared under the international accounting standards and China\naccounting standards\n□Applicable √N/A\n8.2 Differences in the net profits and net assets attributable to shareholders of the Company\ndisclosed in the financial reports prepared under the overseas accounting standards and China\naccounting standards\n□Applicable √N/A\n8.3 Explanations for above accounting data differences",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000404_segments",
      "report_id": "ID_000404",
      "company_name": "Kweichow Moutai Co",
      "year": 2022,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Liquor",
      "golden_context": "Page 11:\n\nriod and the certificate of deposit with large amount purchased in the previous period.\nCauses for Net cash flow change from financing activities: Firstly, in December 2022, the company\nimplemented a special dividend plan to repay shareholders.\nDetailed reasons for any significant changes to the business type, profit structure or profit sources of the\nCompany in the reporting period.\n□Applicable √N/A\nB. Income and cost analysis\n√Applicable □N/A\na. Main business grouped by business segment, by product, by region and by sales model.\nUnit: CNY\nMain business grouped by business segment\nBusiness\nsegment Operating revenue Operating costs\nGross\nprofit\nmargin\nYoY\nChange\nof\noperating\nrevenue\n(%)\nYoY\nchange\nof\noperating\ncosts (%)\nYoY change of\ngross profit\nmargin (%)\nLiquor 123,772,332,348.71 9,896,113,336.80 92.00 16.70 11.30\nIncrease by\n0.38\npercentage\npoint(s)\nMain business grouped by product\nProduct Operating revenue Operating costs\nGross\nprofit\nmargin\nYoY\nChange\nof\noperating\nrevenue\n(%)\nYoY\nchange\nof\noperating\ncosts (%)\nYoY change of\ngross profit\nmargin (%)\nMoutai 107,833,685,277.94 6,265,810,909.88 94.19 15.37 12.33\nIncrease by\n0.16\npercentage\npoint(s)\nOther\nliquor 15,938,647,070.77 3,630,302,426.92 77.22 26.55 9.57\nIncrease by\n3.53\npercentage\npoint(s)\nMain business grouped by region\nRegion Operating revenue Operating costs\nGross\nprofit\nmargin\nYoY\nChange\nof\noperating\nrevenue\n(%)\nYoY\nchange\nof\noperating\ncosts (%)\nYoY change of\ngross profit\nmargin (%)\nDomestic 119,532,752,861.59 9,558,682,149.59 92.00 15.56 10.51\nIncrease by\n0.36\npercentage\npoint(s)\nOverseas 4,239,579,487.12 337,431,187.21 92.04 61.91 39.60\nIncrease by\n1.27\npercentage\npoint(s)\nMain business condition by sales model\n11 / 158",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_cash_flow",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Net cash flows from operating\nactivities 67bn, investing: -10bn, financing: -59bn",
      "golden_context": "Page 11:\n\nnghai Stock Exchange, with the number of video views ranking among the top in A-share companies.\nThe company was awarded the Best Practice for Earnings Presentation by the China Association for Public\nCompanies. During the year, the company once again implemented a special dividend, distributing a total\nof 56.55 billion yuan in cash dividends, accounting for 75.67% of the company's net profit attributable to\nshareholders in 2023. The dividend amount increased by approximately 1.8 billion yuan compared to the\nprevious year, reaching a new high, rewarding investors with practical actions.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nMonetary Unit: Yuan Currency: RMB\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 147,693,604,994.14 124,099,843,771.99 19.01\nOperating costs 11,867,273,851.78 10,093,468,616.63 17.57\nSelling and distribution expenses 4,648,613,585.82 3,297,724,190.94 40.96\nGeneral and administrative expenses 9,729,389,252.31 9,012,191,073.63 7.96\nFinancial expenses -1,789,503,701.48 -1,391,805,826.72 N/A\nResearch and development expenses 157,371,873.01 135,185,680.40 16.41\nNet cash flows from operating\nactivities 66,593,247,721.09 36,698,595,830.03 81.46\nNet cash flows from investing\nactivities\n-9,724,414,015.16 -5,536,826,334.90 N/A\nNet cash flows from financing\nactivities\n-58,889,101,991.94 -57,424,528,979.83 N/A\nReasons for the changes in operating revenue: mainly due to the increase of sales volume, the change in\nthe selling channel and product structure and the adjustment to the selling prices of main products in the\ncurrent period.\nReasons for the changes in operating costs: mainly due to the increase in sales volume and production cost\nand changes in product structure in the current period.\nReasons for changes in selling and distribution expenses: mainly due to the increase in advertising and\nmarketing fees in the current period.\nReasons for changes in general and administrative expenses: mainly due to the increase in trademark\nlicense fees and depreciation of fixed assets in the current period.\nReasons for changes in financial expenses: mainly due to the increase in the interest income from deposits\nwith commercial banks in the current per",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_company_type",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nANNUAL REPORT 2023\nStock Code: 600519 Stock Abbr.: Kweichow Moutai\nKWEICHOW MOUTAI CO., LTD.\nANNUAL REPORT 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_key_financials",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue: 148bn, net profits 75bn, net cash flows operating: 67bn, basic EPS: 59.49",
      "golden_context": "Page 6:\n\nVII. Key Accounting Data and Financial Indicators in the past three years\n(I) Key accounting data\nMonetary Unit: Yuan Currency: RMB\n2022 years\nKey accounting\ndata 2023 years\nAfter adjustment Before adjustment Year-on-\nyear\nincrease\nof\ndecrease\n(%)\n2021 years\nAfter adjustment Before adjustment\nOperating\nrevenue 147,693,604,994.14 124,099,843,771.99 124,099,843,771.99 19.01 106,190,154,843.76 106,190,154,843.76\nNet profit\nattributable to\nshareholders of\nthe listed\ncompany\n74,734,071,550.75 62,717,467,870.12 62,716,443,738.27 19.16 52,435,506,622.16 52,460,144,378.16\nNet profits\ndeducting non-\nrecurring profits\nand losses\nattributable to\nshareholders of\nthe listed\ncompany\n74,752,564,425.52 62,792,896,829.57 62,791,872,697.72 19.05 52,556,464,900.24 52,581,102,656.24\nNet cash flows\nfrom operating\nactivities\n66,593,247,721.09 36,698,595,830.03 36,698,595,830.03 81.46 64,028,676,147.37 64,028,676,147.37\nAt the end of 2022\nAt the end of 2023\nAfter adjustment Before adjustment Increase\nor\ndecrease\nat the end\nof the\ncurrent\nperiod\ncompared\nwith the\nsame\nperiod of\nthe\nprevious\nyear\nAt the end of 2021\nAfter adjustment Before adjustment\nNet assets\nattributable to\nshareholders of\nthe listed\ncompany\n215,668,571,607.43 197,480,041,239.46 197,506,672,396.00 9.21 189,511,713,508.90 189,539,368,797.29\n6 / 175\nANNUAL REPORT 2023\nTotal assets 272,699,660,092.25 254,500,826,096.02 7.15 Share capital 1,256,197,800.00 1,256,197,800.00 254,364,804,995.25 255,315,103,017.82 255,168,195,159.90\n1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\nNote: In accordance with the \"Enterprise Accounting Standards Interpretation No. 16\" issued by the\nMinistry of Finance on November 30, 2022, the relevant content regarding the accounting treatment of\n\"deferred income taxes related to assets and liabilities arising from individual transactions not applicable\nto initial recognition exemptions\" shall be implemented as of January 1, 2023. The Company has\nretroactively adjusted the relevant financial data for the comparative period, as detailed in Section 10 of\nthe financial report, specifically in Part 5, \"Important Accounting Policies and Accounting Estimates,\"\nSubsection 24, \"Changes in Important Accounting Policies and Estimates.\" The relevant financial data\nmentioned in the remainder of this annual report are all retroactively adjusted data.\n(II) Key financial indicators\n2022 Key financial indicators 2023\nAfter\nadjustment\nBefore\nadjustment\nYear-on-\nyear\nincrease\n/decrease\n(%)\n2021 years\nAfter\nadjustment\nBefore\nadjustment\nBasic earnings per share\n(RMB/share) 59.49 49.93 49.93 19.16 41.74 41.76\nDiluted earnings per share\n(RMB/share) 59.49 49.93 49.93 19.16 41.74 41.76\nBasic earnings per share\nafter deducting non-\nrecurring profits and\nlosses (RMB/share)\n59.51 49.99 49.99 19.05 41.84 41.86\nWeighted average rate of\nreturn on net assets (%) 34.19 30.26 30.26\nIncrease\nby 3.93\npercentage\npoint(s)\n29.89 29.90\nWeighted average rate of\nreturn on net assets after\ndeduction of non-\nrecurring profits or losses\n34.20 30.29 30.29\nIncrease\nby 3.91\npercentage\npoint(s)\n29.95 29.97\nDescription of the Company's main accounting data and financial indicators for the recent three years at\nthe end of the reporting period\n□Applicable √N/A\nVIII. Differences in accounting data by domestic and overseas accounting standards\n(I) Differences in the net profits and net assets attributable to shareholders of the company disclosed\nin the financial reports prepare",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_revenue",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "148bn",
      "golden_context": "Page 11:\n\nnghai Stock Exchange, with the number of video views ranking among the top in A-share companies.\nThe company was awarded the Best Practice for Earnings Presentation by the China Association for Public\nCompanies. During the year, the company once again implemented a special dividend, distributing a total\nof 56.55 billion yuan in cash dividends, accounting for 75.67% of the company's net profit attributable to\nshareholders in 2023. The dividend amount increased by approximately 1.8 billion yuan compared to the\nprevious year, reaching a new high, rewarding investors with practical actions.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nMonetary Unit: Yuan Currency: RMB\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 147,693,604,994.14 124,099,843,771.99 19.01\nOperating costs 11,867,273,851.78 10,093,468,616.63 17.57\nSelling and distribution expenses 4,648,613,585.82 3,297,724,190.94 40.96\nGeneral and administrative expenses 9,729,389,252.31 9,012,191,073.63 7.96\nFinancial expenses -1,789,503,701.48 -1,391,805,826.72 N/A\nResearch and development expenses 157,371,873.01 135,185,680.40 16.41\nNet cash flows from operating\nactivities 66,593,247,721.09 36,698,595,830.03 81.46\nNet cash flows from investing\nactivities\n-9,724,414,015.16 -5,536,826,334.90 N/A\nNet cash flows from financing\nactivities\n-58,889,101,991.94 -57,424,528,979.83 N/A\nReasons for the changes in operating revenue: mainly due to the increase of sales volume, the change in\nthe selling channel and product structure and the adjustment to the selling prices of main products in the\ncurrent period.\nReasons for the changes in operating costs: mainly due to the increase in sales volume and production cost\nand changes in product structure in the current period.\nReasons for changes in selling and distribution expenses: mainly due to the increase in advertising and\nmarketing fees in the current period.\nReasons for changes in general and administrative expenses: mainly due to the increase in trademark\nlicense fees and depreciation of fixed assets in the current period.\nReasons for changes in financial expenses: mainly due to the increase in the interest income from deposits\nwith commercial banks in the current per",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_revenue_growth",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "148bn, prior year: 124bn",
      "golden_context": "Page 11:\n\nnghai Stock Exchange, with the number of video views ranking among the top in A-share companies.\nThe company was awarded the Best Practice for Earnings Presentation by the China Association for Public\nCompanies. During the year, the company once again implemented a special dividend, distributing a total\nof 56.55 billion yuan in cash dividends, accounting for 75.67% of the company's net profit attributable to\nshareholders in 2023. The dividend amount increased by approximately 1.8 billion yuan compared to the\nprevious year, reaching a new high, rewarding investors with practical actions.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nMonetary Unit: Yuan Currency: RMB\nItem Amount in the\nreporting period\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 147,693,604,994.14 124,099,843,771.99 19.01\nOperating costs 11,867,273,851.78 10,093,468,616.63 17.57\nSelling and distribution expenses 4,648,613,585.82 3,297,724,190.94 40.96\nGeneral and administrative expenses 9,729,389,252.31 9,012,191,073.63 7.96\nFinancial expenses -1,789,503,701.48 -1,391,805,826.72 N/A\nResearch and development expenses 157,371,873.01 135,185,680.40 16.41\nNet cash flows from operating\nactivities 66,593,247,721.09 36,698,595,830.03 81.46\nNet cash flows from investing\nactivities\n-9,724,414,015.16 -5,536,826,334.90 N/A\nNet cash flows from financing\nactivities\n-58,889,101,991.94 -57,424,528,979.83 N/A\nReasons for the changes in operating revenue: mainly due to the increase of sales volume, the change in\nthe selling channel and product structure and the adjustment to the selling prices of main products in the\ncurrent period.\nReasons for the changes in operating costs: mainly due to the increase in sales volume and production cost\nand changes in product structure in the current period.\nReasons for changes in selling and distribution expenses: mainly due to the increase in advertising and\nmarketing fees in the current period.\nReasons for changes in general and administrative expenses: mainly due to the increase in trademark\nlicense fees and depreciation of fixed assets in the current period.\nReasons for changes in financial expenses: mainly due to the increase in the interest income from deposits\nwith commercial banks in the current per",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000405_segments",
      "report_id": "ID_000405",
      "company_name": "Kweichow Moutai Co",
      "year": 2023,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Liquor",
      "golden_context": "Page 13:\n\ne Operating costs\nGross\nprofit\nmargin\nYoY\nChange\nof\nOperating\nrevenue\n(%)\nYoY\nchange\nof\noperating\ncosts (%)\nYoY\nchange\nof gross\nprofit\nmargin\n(%)\nWholesale\nagency 79,986,119,397.90 8,569,360,111.66 89.29 7.52 6.82 0.07\nDirect\nsales 67,232,876,883.14 3,050,843,541.66 95.46 36.16 62.78 -0.74\n(2) Analysis of production volume, sales volume and inventory\n√Applicable □N/A\nMain\nproduct Unit Production\nvolume\nSales\nvolume Inventory\nYoY\nchange of\nproduction\nvolume\n(%)\nYoY\nchange of\nsales\nvolume\n(%)\nYoY\nchange of\ninventory\n(%)\nLiquor Ton 100,141.15 73,274.04 293,790.03 8.98 7.48 6.21\n(3) Execution situation of major acquisition contracts and major sales contracts\n□Applicable √N/A\n(4) Cost Analysis Table\nMonetary Unit: RMB\nCondition by business segment\nBy\nbusiness\nsegment\nMain\nbreakdow\nn items of\ncost\nAmount in the\nreporting\nperiod\nAs %\nof\ntotal\ncost\n(%)\nAmount in the\nsame\nreporting\nperiod of\nprevious year\nAs % of\ntotal\ncost in\npreviou\ns year\n(%)\nYoY\nchang\ne (%)\nDescriptio\nn of\nreasons\nLiquor 11,620,203,653.3\n2\n100.0\n0\n9,896,113,336.8\n0 100.00 17.42\nCondition by product\nBy\nproduc\nt\nMain\nbreakdown\nitems of cost\nAmount in the\nreporting\nperiod\nAs %\nof\ntotal\ncost\n(%)\nAmount in the\nsame\nreporting\nperiod of\nprevious year\nDirect\nmaterials\ncosts\n5,984,160,283.88 51.50 5,344,548,452.2\n4 54.00 Direct labor\ncosts 4,372,013,596.08 37.63 3,395,434,595.8\n5 34.31 Liquor\nManufacturin\ng costs 640,613,571.24 5.51 Fuels and\nenergies 351,386,305.23 3.02 Transportatio\nn costs 272,029,896.89 2.34 As % of\ncost\nin\npreviou\ns year\n(%)\n558,168,244.61 342,073,450.40 255,888,593.70 YoY\nchang\ne (%)\nDescriptio\nn of\nreasons\n11.97\n28.76\n5.64 14.77\n3.46 2.72\n2.59 6.31\nTotal 11,620",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_cash_flow",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 92bn, investing: -1.8bn, financing: -71bn",
      "golden_context": "Page 9-10:\n\nfirst liquor brand in Kantar's BrandZ Top 100 Most Valuable Brands List for seven consecutive years,\nand jumped to the second place in China's Top 100 Brands for the first time. With a Brand value of US $50.1 billion,\nit has topped the \"Brand Finance Global Spirits Brand Value List\" for the ninth time in the UK, and its brand value\nstill leads the industry.\nFifth, market value management made new achievements. For the first time, the Measures for the Management of\nMarket Value was formulated to improve the standardization of management; The company issued the dividend plan\nfor 2024-2026, established a long-term return mechanism, and effectively stabilized investors' expectations;\nLaunching the share repurchase plan for the first time, the company repurchased shares through centralized bidding\nwith its own funds, and the repurchased shares were used to cancel and reduce the registered capital of the company.\nThe repurchase amount shall not be less than 3 billion yuan (inclusive) and not more than 6 billion yuan (inclusive),\nand the company continued to practice real money to return shareholders.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nItem Amount in the\nreporting period\nMonetary Unit: Yuan Currency: RMB\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 170,899,152,276.34 147,693,604,994.14 15.71\nOperating costs 13,789,482,367.98 11,867,273,851.78 16.20\nSelling and distribution expenses 5,639,300,059.49 4,648,613,585.82 21.31\nGeneral and administrative expenses 9,315,650,060.38 9,729,389,252.31 -4.25\nFinancial expenses -1,470,219,863.34 -1,789,503,701.48 N/A\nResearch and development expenses 218,375,472.87 157,371,873.01 38.76\nNet cash flows from operating\nactivities\n92,463,692,168.43 66,593,247,721.09 38.85\nNet cash flows from investing\nactivities\n-1,785,202,630.71 -9,724,414,015.16 N/A\n9 / 193\nANNUAL REPORT 2024\nNet cash flows from financing\nactivities\nN/A\n-71,067,506,484.81 -58,889,101,991.94\nExplanation of Changes in Operating Revenue: Mainly due to the increase in sales volume of Moutai liquor and\nother series liquor in this period and the adjustment of sales price of main products of Moutai liquor.\nExplanation of Changes in Operating Costs: Mainly due to the increase in sales of Moutai liquor and other series\nliquor in this period and the increase in raw materials and labor costs.\nExplanation of Changes in Selling and Distribution Expenses: Mainly due to the increase in market expansion and\nservice fees in this period.\nExplanation of Changes in Financial Expenses: Mainly due to the decline in deposit interest rates of commercial\nbanks in the current period.\nExplanation of Changes in R&D Expenses: Mainly due to the increase in R&D projects in this period.\nExplanation of Changes in Net Cash Flow from Operating Activities: Mainly due to the increase in cash received by\nthe company from the sale of commodities in this period and the increase in funds collected by the holding\nsubsidiary Kweicho",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_company_type",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nANNUAL REPORT 2024\nStock Code: 600519 Stock Abbr.: Kweichow Moutai\nKWEICHOW MOUTAI CO., LTD.\nANNUAL REPORT 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_key_financials",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue: 171bn, Net profit attributable to\nshareholders of the listed\ncompany\n86bn\nbasic EPS: 68.64",
      "golden_context": "Page 6:\n\nted\naccounting firm\n(domestic)\nName Pan-China Certified Public Accountants (Special General Partnership)\nOffice address\n128 Xixi Road, Lingyin Street, Xihu District, Hangzhou city, Zhejiang\nProvince, China\nName of the\nsigning\naccountant\nLi Qinglong, Liang Zhengyong, Zeng Zhi\nKey accounting data Monetary Unit: Yuan Currency: RMB\n2024 years 2023 years increase or decrease(%) 2022 years\nOperating revenue 170,899,152,276.34 147,693,604,994.14 15.71 124,099,843,771.99\nNet profit attributable to\nshareholders of the listed\ncompany\n86,228,146,421.62 74,734,071,550.75 15.38 62,717,467,870.12\nNet profits deducting non-\nrecurring profits and losses\nattributable to shareholders of\nthe listed\ncompany\n86,240,905,977.42 74,752,564,425.52 15.37 62,792,896,829.57\nNet cash flows from operating\nactivities\n92,463,692,168.43 66,593,247,721.09 38.85 36,698,595,830.03\nKey accounting data At the end of 2024 At the end of 2023\nIncrease or decrease\nat the end of the\ncurrent period\nCompared with the\nsame period of the\nprevious year(%)\nAt the end of 2022\nNet assets attributable to\nshareholders of the listed\ncompany\n233,105,984,399.47 215,668,571,607.43 8.09 197,480,041,239.46\nTotal assets 298,944,579,918.70 272,699,660,092.25 9.62 254,500,826,096.02\nShare capital 1,256,197,800.00 1,256,197,800.00 1,256,197,800.00\nKey financial indicators 2024 years 2023 years\nYear-on-year\nincrease/decrease\n(%)\n2022 years\nBasic earnings per share (RMB/share) 68.64 59.49 15.38 49.93\nDiluted earnings per share (RMB/share) 68.64 59.49 15.38 49.93\nBasic earnings per share after deducting non-recurring profits and\nlosses (RMB/share) 68.65 59.51 15.37 49.99\nWeighted average rate of return on net assets (%) 36.02 34.19 Increase by 1.83\npercentage points\n30.26\nWeighted average rate of return on net assets after deduction of\nnon-recurring profits or losses\n36.03 34.20 Increase by 1.83\npercentage points\n30.29\n(II) Key financial indicators\nDescription of the Company's main accounting data and financial indicators for the recent three years at the end of\nthe reporting period\n□Applicable √N/A\nVIII. Differences in accounting data by domestic and overseas accounting standards\n(I) Differences in the net profits and net assets attributable to shareholders of the company disclosed in the\nfinancial reports prepared under the international accounting sta",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_revenue",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "171bn revenue",
      "golden_context": "Page 9-10:\n\nfirst liquor brand in Kantar's BrandZ Top 100 Most Valuable Brands List for seven consecutive years,\nand jumped to the second place in China's Top 100 Brands for the first time. With a Brand value of US $50.1 billion,\nit has topped the \"Brand Finance Global Spirits Brand Value List\" for the ninth time in the UK, and its brand value\nstill leads the industry.\nFifth, market value management made new achievements. For the first time, the Measures for the Management of\nMarket Value was formulated to improve the standardization of management; The company issued the dividend plan\nfor 2024-2026, established a long-term return mechanism, and effectively stabilized investors' expectations;\nLaunching the share repurchase plan for the first time, the company repurchased shares through centralized bidding\nwith its own funds, and the repurchased shares were used to cancel and reduce the registered capital of the company.\nThe repurchase amount shall not be less than 3 billion yuan (inclusive) and not more than 6 billion yuan (inclusive),\nand the company continued to practice real money to return shareholders.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nItem Amount in the\nreporting period\nMonetary Unit: Yuan Currency: RMB\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 170,899,152,276.34 147,693,604,994.14 15.71\nOperating costs 13,789,482,367.98 11,867,273,851.78 16.20\nSelling and distribution expenses 5,639,300,059.49 4,648,613,585.82 21.31\nGeneral and administrative expenses 9,315,650,060.38 9,729,389,252.31 -4.25\nFinancial expenses -1,470,219,863.34 -1,789,503,701.48 N/A\nResearch and development expenses 218,375,472.87 157,371,873.01 38.76\nNet cash flows from operating\nactivities\n92,463,692,168.43 66,593,247,721.09 38.85\nNet cash flows from investing\nactivities\n-1,785,202,630.71 -9,724,414,015.16 N/A\n9 / 193\nANNUAL REPORT 2024\nNet cash flows from financing\nactivities\nN/A\n-71,067,506,484.81 -58,889,101,991.94\nExplanation of Changes in Operating Revenue: Mainly due to the increase in sales volume of Moutai liquor and\nother series liquor in this period and the adjustment of sales price of main products of Moutai liquor.\nExplanation of Changes in Operating Costs: Mainly due to the increase in sales of Moutai liquor and other series\nliquor in this period and the increase in raw materials and labor costs.\nExplanation of Changes in Selling and Distribution Expenses: Mainly due to the increase in market expansion and\nservice fees in this period.\nExplanation of Changes in Financial Expenses: Mainly due to the decline in deposit interest rates of commercial\nbanks in the current period.\nExplanation of Changes in R&D Expenses: Mainly due to the increase in R&D projects in this period.\nExplanation of Changes in Net Cash Flow from Operating Activities: Mainly due to the increase in cash received by\nthe company from the sale of commodities in this period and the increase in funds collected by the holding\nsubsidiary Kweicho",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_revenue_growth",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "171bn revenue, 148bn revenue prior year",
      "golden_context": "Page 9-10:\n\nfirst liquor brand in Kantar's BrandZ Top 100 Most Valuable Brands List for seven consecutive years,\nand jumped to the second place in China's Top 100 Brands for the first time. With a Brand value of US $50.1 billion,\nit has topped the \"Brand Finance Global Spirits Brand Value List\" for the ninth time in the UK, and its brand value\nstill leads the industry.\nFifth, market value management made new achievements. For the first time, the Measures for the Management of\nMarket Value was formulated to improve the standardization of management; The company issued the dividend plan\nfor 2024-2026, established a long-term return mechanism, and effectively stabilized investors' expectations;\nLaunching the share repurchase plan for the first time, the company repurchased shares through centralized bidding\nwith its own funds, and the repurchased shares were used to cancel and reduce the registered capital of the company.\nThe repurchase amount shall not be less than 3 billion yuan (inclusive) and not more than 6 billion yuan (inclusive),\nand the company continued to practice real money to return shareholders.\n(I) Main business analysis\n1. Analysis of accounting item changes related to the income statement and the cash flow statement\nItem Amount in the\nreporting period\nMonetary Unit: Yuan Currency: RMB\nAmount in the same\nreporting period of\nlast year\nYoY Change\n(%)\nOperating revenue 170,899,152,276.34 147,693,604,994.14 15.71\nOperating costs 13,789,482,367.98 11,867,273,851.78 16.20\nSelling and distribution expenses 5,639,300,059.49 4,648,613,585.82 21.31\nGeneral and administrative expenses 9,315,650,060.38 9,729,389,252.31 -4.25\nFinancial expenses -1,470,219,863.34 -1,789,503,701.48 N/A\nResearch and development expenses 218,375,472.87 157,371,873.01 38.76\nNet cash flows from operating\nactivities\n92,463,692,168.43 66,593,247,721.09 38.85\nNet cash flows from investing\nactivities\n-1,785,202,630.71 -9,724,414,015.16 N/A\n9 / 193\nANNUAL REPORT 2024\nNet cash flows from financing\nactivities\nN/A\n-71,067,506,484.81 -58,889,101,991.94\nExplanation of Changes in Operating Revenue: Mainly due to the increase in sales volume of Moutai liquor and\nother series liquor in this period and the adjustment of sales price of main products of Moutai liquor.\nExplanation of Changes in Operating Costs: Mainly due to the increase in sales of Moutai liquor and other series\nliquor in this period and the increase in raw materials and labor costs.\nExplanation of Changes in Selling and Distribution Expenses: Mainly due to the increase in market expansion and\nservice fees in this period.\nExplanation of Changes in Financial Expenses: Mainly due to the decline in deposit interest rates of commercial\nbanks in the current period.\nExplanation of Changes in R&D Expenses: Mainly due to the increase in R&D projects in this period.\nExplanation of Changes in Net Cash Flow from Operating Activities: Mainly due to the increase in cash received by\nthe company from the sale of commodities in this period and the increase in funds collected by the holding\nsubsidiary Kweicho",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000406_segments",
      "report_id": "ID_000406",
      "company_name": "Kweichow Moutai Co",
      "year": 2024,
      "country": "CN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Liquor",
      "golden_context": "Page 10:\n\nurrent period.\nDetailed explanation of major changes in the Company's business type, profit composition or profit source\nin the current period\n□Applicable √N/A\n2. Income and cost analysis\n√Applicable □N/A\n(1) Main business grouped by business segment, by product, by region and by sales model.\nMonetary Unit: Yuan Currency: RMB\nIndustry Operating revenue Main business grouped by business segment\nOperating costs\nGross Profit\nmargin\n(%)\nIncrease Or\ndecrease in\noperating\nrevenue over\nthe previous\nyear (%)\nIncrease or\ndecrease in\noperating costs\nover the\nprevious year\n(%)\nIncrease Or\ndecrease in\ngross Profit\nmargin over\nthe previous\nyear (%)\nLiquor 170,611,838,052.02 13,629,995,812.89 92.01 15.89 17.30 -0.10\nPrimary business (by product)\nOperating costs Product Operating revenue Gross profit\nmargin (%)\nIncrease Or\ndecrease in\noperating\nrevenue over\nthe previous\nyear (%)\nIncrease Or\nDecrease in\nOperating\nCosts over\nthe previous\nyear (%)\nMoutai liquor Other\nliquor\n145,928,075,955.31 24,683,762,096.71 8,662,079,388.78 94.06 15.28 4,967,916,424.11 79.87 19.65 16.34 19.00 Increase or\ndecrease in\ngross profit\nMargin over\nthe previous\nyear (%)\n-0.06\n0.11\nRegion Operating revenue Main business grouped by region\nOperating costs Gross profit\nmargin (%)\nIncrease or\ndecrease in\nOperating\nrevenue over\nthe previous\nyear (%)\nIncrease or\ndecrease in\nOperating\ncosts over the\nPrevious year\n(%)\nDomestic 165,423,308,808.24 13,226,875,459.60 92.00 15.79 17.26 Increase Or\ndecrease in\ngross profit\nmargin over\nthe previous\nyear (%)\n-0.10\nOverseas 5,188,529,243.78 403,120,353.29 92.23 19.27 18.57 0.05\nMain business grouped by sales model\nModel of sales Opera",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_cash_flow",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 36bn, investing: -6.6bn, financing: -28bn",
      "golden_context": "Page 16:\n\nor coverage and financing channels, and strong investment, merger and acquisition, and financing\ncapabilities. In recent years, the Company insists on strategic leadership, focuses on the main\nresponsibility and main business, and actively and steadily carries out foreign investment in the fields of\nclean energy, integrated smart energy and upstream and downstream of the industrial chain, etc. The\ninvestment structure is more reasonable and the quality of investment is further optimized, and the\nCompany has the ability to contribute to the investment income in accordance with the scale of the\nCompany.\nThe Company will further leverage its credit advantages, make use of various financing tools and\nchannels, optimize the debt structure and reduce capital costs. It will proactively serve national strategies\nsuch as the Yangtze River Economic Belt,\n\"carbon emission peak\"\n,\n\"carbon neutrality\" and overall\nprotection of Yangtze River; seize major opportunities such as power system reform, mixed-ownership\nreform, clean energy transformation, and new energy development, and actively pursue industrial chain\nextension and international development. And it will grasp the good opportunities of capital market\nreform and continuous improvement of the system, actively and steadily carry out investment around the\nmain business, and carefully carry out market value management.\nV . Main Operation Conditions in the Reporting Period\nIn 2021, affected by the year-on-year drier water from the Yangtze River and the water storage of new\npower stations upstream, the generation capacity of cascade stations affiliated to the Company was\n208,322 GWh, a decrease of 18,608 GWh or 8.20% over the same period last year; The total profit was\nRMB 32,409 million, a decrease of RMB 46 million or 0.14% over the same period last year; the net\nprofit attributable to the Parent Company was RMB 26,273 million, a decrease of RMB 25 million or\n0.09% over the same period last year; The basic earnings per share was RMB 1.1553, a decrease of\nRMB 0.03 or 2.53% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem\nBalance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 55,646,253,991.83 57,783,367,039.83 -3.70\nOperating costs 21,113,077,634.36 21,149,454,266.44 -0.17\nSelling expenses 150,419,652.08 115,417,318.42 30.33\nAdministrative Expenses 1,359,765,980.97 1,292,798,651.45 5.18\nFinancial expenses 4,751,369,573.92 4,985,909,832.08 -4.70\nResearch and development\nexpenses\n39,416,834.88 39,568,009.51 -0.38\nNet cash flows from operating\nactivities\n35,732,461,733.26 41,036,864,400.40 -12.93\nNet cash flow generated in\ninvestment activities\n-6,565,209,402.80 -36,037,256,431.23 -81.78\nNet cash flows from financing\nactivities\n-28,380,741,024.38 -3,007,326,032.09 843.72\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_company_type",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\n2021 Annual Report\nCompany code: 600900 Company abbreviation: CYPC\nChina Yangtze Power Co., Ltd.\n2021 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_key_financials",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 56bn, Net profit\nattributable to\nshareholders of the\nListed Company: 26bn\nBasic EPS: 1.15",
      "golden_context": "Page 7:\n\nPrincipal accounting\ndata\n2021 2020\nIncrease &\ndecrease in this\nperiod over the\nsame period of\nlast year (%)\n2019\nOperating revenues 55,646,253,991.83 57,783,367,039.83 -3.70 49,874,086,874.95\nNet profit\nattributable to\nshareholders of the\nListed Company\n26,272,998,503.24 26,297,890,222.70 -0.09 21,543,493,635.57\nNet profit\nattributable to\nshareholders of the\nCompany net of\nnon-recurring profit\nor loss\n24,141,419,619.03 26,175,647,473.85 -7.77 21,130,274,030.69\nNet cash flows from\noperating activities\nNet assets\nattributable to\nshareholders of the\nListed Company\n35,732,461,733.26 41,036,864,400.40 -12.93 36,464,419,570.28\nEnd of 2021 End of 2020\nIncrease &\ndecrease at the\nend of this\nperiod over the\nend of the same\nperiod of last\nyear (%)\nEnd of 2019\n181,063,819,486.27 172,118,146,991.60 5.20 149,510,174,624.05\nTotal assets 328,563,281,639.20 330,827,096,559.03 -0.68 296,482,881,040.89\nPrincipal financial indexes 2021 2020\nIncrease & decrease in this period\nover the same period of last year\n(%)\n2019\nBasic earnings per share (RMB/share) 1.1553 1.1853 -2.54 0.9792\nDiluted earnings per share\n(RMB/share) 1.1553 1.1853 -2.54 0.9792\nBasic earnings per share net of\nnon-recurring profit and loss\n(RMB/share)\n1.0615 1.1798 -10.03 0.9605\nWeighted average ROE (%) 14.92 16.71 Decreased by 1.79% 14.77\nWeighted mean ROE (%) net of\nnon-recurring profits and losses\n13.71 16.63 Decreased by 2.92% 14.49",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_revenue",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Operating revenues: 55.6bn",
      "golden_context": "Page 16:\n\nor coverage and financing channels, and strong investment, merger and acquisition, and financing\ncapabilities. In recent years, the Company insists on strategic leadership, focuses on the main\nresponsibility and main business, and actively and steadily carries out foreign investment in the fields of\nclean energy, integrated smart energy and upstream and downstream of the industrial chain, etc. The\ninvestment structure is more reasonable and the quality of investment is further optimized, and the\nCompany has the ability to contribute to the investment income in accordance with the scale of the\nCompany.\nThe Company will further leverage its credit advantages, make use of various financing tools and\nchannels, optimize the debt structure and reduce capital costs. It will proactively serve national strategies\nsuch as the Yangtze River Economic Belt,\n\"carbon emission peak\"\n,\n\"carbon neutrality\" and overall\nprotection of Yangtze River; seize major opportunities such as power system reform, mixed-ownership\nreform, clean energy transformation, and new energy development, and actively pursue industrial chain\nextension and international development. And it will grasp the good opportunities of capital market\nreform and continuous improvement of the system, actively and steadily carry out investment around the\nmain business, and carefully carry out market value management.\nV . Main Operation Conditions in the Reporting Period\nIn 2021, affected by the year-on-year drier water from the Yangtze River and the water storage of new\npower stations upstream, the generation capacity of cascade stations affiliated to the Company was\n208,322 GWh, a decrease of 18,608 GWh or 8.20% over the same period last year; The total profit was\nRMB 32,409 million, a decrease of RMB 46 million or 0.14% over the same period last year; the net\nprofit attributable to the Parent Company was RMB 26,273 million, a decrease of RMB 25 million or\n0.09% over the same period last year; The basic earnings per share was RMB 1.1553, a decrease of\nRMB 0.03 or 2.53% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem\nBalance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 55,646,253,991.83 57,783,367,039.83 -3.70\nOperating costs 21,113,077,634.36 21,149,454,266.44 -0.17\nSelling expenses 150,419,652.08 115,417,318.42 30.33\nAdministrative Expenses 1,359,765,980.97 1,292,798,651.45 5.18\nFinancial expenses 4,751,369,573.92 4,985,909,832.08 -4.70\nResearch and development\nexpenses\n39,416,834.88 39,568,009.51 -0.38\nNet cash flows from operating\nactivities\n35,732,461,733.26 41,036,864,400.40 -12.93\nNet cash flow generated in\ninvestment activities\n-6,565,209,402.80 -36,037,256,431.23 -81.78\nNet cash flows from financing\nactivities\n-28,380,741,024.38 -3,007,326,032.09 843.72\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_revenue_growth",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues: 55.6bn, prior year: 58bn",
      "golden_context": "Page 16:\n\nor coverage and financing channels, and strong investment, merger and acquisition, and financing\ncapabilities. In recent years, the Company insists on strategic leadership, focuses on the main\nresponsibility and main business, and actively and steadily carries out foreign investment in the fields of\nclean energy, integrated smart energy and upstream and downstream of the industrial chain, etc. The\ninvestment structure is more reasonable and the quality of investment is further optimized, and the\nCompany has the ability to contribute to the investment income in accordance with the scale of the\nCompany.\nThe Company will further leverage its credit advantages, make use of various financing tools and\nchannels, optimize the debt structure and reduce capital costs. It will proactively serve national strategies\nsuch as the Yangtze River Economic Belt,\n\"carbon emission peak\"\n,\n\"carbon neutrality\" and overall\nprotection of Yangtze River; seize major opportunities such as power system reform, mixed-ownership\nreform, clean energy transformation, and new energy development, and actively pursue industrial chain\nextension and international development. And it will grasp the good opportunities of capital market\nreform and continuous improvement of the system, actively and steadily carry out investment around the\nmain business, and carefully carry out market value management.\nV . Main Operation Conditions in the Reporting Period\nIn 2021, affected by the year-on-year drier water from the Yangtze River and the water storage of new\npower stations upstream, the generation capacity of cascade stations affiliated to the Company was\n208,322 GWh, a decrease of 18,608 GWh or 8.20% over the same period last year; The total profit was\nRMB 32,409 million, a decrease of RMB 46 million or 0.14% over the same period last year; the net\nprofit attributable to the Parent Company was RMB 26,273 million, a decrease of RMB 25 million or\n0.09% over the same period last year; The basic earnings per share was RMB 1.1553, a decrease of\nRMB 0.03 or 2.53% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem\nBalance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 55,646,253,991.83 57,783,367,039.83 -3.70\nOperating costs 21,113,077,634.36 21,149,454,266.44 -0.17\nSelling expenses 150,419,652.08 115,417,318.42 30.33\nAdministrative Expenses 1,359,765,980.97 1,292,798,651.45 5.18\nFinancial expenses 4,751,369,573.92 4,985,909,832.08 -4.70\nResearch and development\nexpenses\n39,416,834.88 39,568,009.51 -0.38\nNet cash flows from operating\nactivities\n35,732,461,733.26 41,036,864,400.40 -12.93\nNet cash flow generated in\ninvestment activities\n-6,565,209,402.80 -36,037,256,431.23 -81.78\nNet cash flows from financing\nactivities\n-28,380,741,024.38 -3,007,326,032.09 843.72\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000407_segments",
      "report_id": "ID_000407",
      "company_name": "China Yangtze Power Co",
      "year": 2021,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Domestic hydropower industry and Other industries",
      "golden_context": "Page 17:\n\nws from operating\nactivities\n35,732,461,733.26 41,036,864,400.40 -12.93\nNet cash flow generated in\ninvestment activities\n-6,565,209,402.80 -36,037,256,431.23 -81.78\nNet cash flows from financing\nactivities\n-28,380,741,024.38 -3,007,326,032.09 843.72\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\n16 / 295\nMain businesses (by industry)\nIndustry\nOperating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n48,752,352,139.25 16,563,661,037.62 66.02 -7.81 -6.82 Decreased\nby 0.37%\nOther\nindustries\n5,887,736,575.35 3,996,643,239.96 32.12 35.57 35.99 Decreased\nby 0.21%\nMain businesses (by product)\nProduct Operating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n48,752,352,139.25 16,563,661,037.62 66.02 -7.81 -6.82 Decreased\nby 0.37%\nOther\nindustries\n5,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_cash_flow",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 31bn, investment: -4bn, financing: -28bn",
      "golden_context": "Page 18:\n\nutable to the Parent Company was RMB 21,309million, a decrease of RMB 4,964 million or\n18.89% over the same period last year; The basic earnings per share was RMB0.9370, a decrease of\nRMB 0.2183 or 18.89% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 52,060,482,557.85 55,646,253,991.83 -6.44\nOperating costs 22,232,888,528.67 21,113,077,634.36 5.30\nSelling expenses 165,177,033.72 150,419,652.08 9.81\nAdministrative Expenses 1,360,283,180.14 1,359,765,980.97 0.04\nFinancial expenses 4,091,934,992.09 4,751,369,573.92 -13.88\nResearch and development\nexpenses\n89,655,150.76 39,416,834.88 127.45\nNet cash flows from operating\nactivities\n30,912,732,230.12 35,732,461,733.26 -13.49\nNet cash flow generated in\ninvestment activities\n-4,093,091,567.88 -6,565,209,402.80 -37.65\nNet cash flows from financing\nactivities\n-27,583,928,909.24 -28,380,741,024.38 -2.81\nMain businesses (by industry)\nIndustry\nOperating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n43,598,734,825.79 16,900,658,225.9\n4 61.24 -10.57 2.03\nDecreased\nby 4.78%\nOther\nindustries\n7,241,926,790.39 4,693,176,916.70 35.19 23.00 17.43 Increased\nby 3.07%\nMain businesses (by product)\nProduct Operating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic 43,598,734,825.79 16,900,658,225.9 61.24 -10.57 2.03 Decreased\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of princ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_company_type",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nChina Yangtze Power Co., Ltd.\n2022 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_key_financials",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 52bn, Net profit\nattributable to\nshareholders of the\nListed Company: 21bn, net cash flows operating: 31bn",
      "golden_context": "Page 8:\n\nPrincipal accounting\ndata\n2022 2021\nIncrease &\ndecrease in this\nperiod over the\nsame period of\nlast year (%)\n2020\nOperating revenues 52,060,482,557.85 55,646,253,991.83 -6.44 57,783,367,039.83\nNet profit\nattributable to\nshareholders of the\nListed Company\n21,309,033,980.94 26,272,998,503.24 -18.89 26,297,890,222.70\nNet profit\nattributable to\nshareholders of the\nCompany net of\nnon-recurring profit\nor loss\nNet cash flows from\noperating activities\n21,392,344,535.58 24,141,419,619.03 -11.39 26,175,647,473.85\n30,912,732,230.12 35,732,461,733.26 -13.49 41,036,864,400.40\nEnd of 2022 End of 2021\nIncrease &\ndecrease at the\nend of this\nperiod over the\nend of the same\nperiod of last\nyear (%)\nEnd of 2020\nNet assets\nattributable to\nshareholders of the\nListed Company\n185,488,250,616.82 181,063,819,486.27 2.44 172,118,146,991.60\nTotal assets 327,268,285,047.33 328,563,281,639.20 -0.39 330,827,096,559.03\nPrincipal financial indexes 2022 2021\nIncrease & decrease in this period\nover the same period of last year\n(%)\n2020\nBasic earnings per share (RMB/share) 0.9370 1.1553 -18.89 1.1853\nDiluted earnings per share\n(RMB/share) 0.9370 1.1553 -18.89 1.1853\nBasic earnings per share net of\nnon-recurring profit and loss\n(RMB/share)\n0.9407 1.0615 -11.39 1.1798\nWeighted average ROE (%) 11.73 14.92 Decreased by 3.19% 16.71\nWeighted mean ROE (%) net of\nnon-recurring profits and losses\n11.77 13.71 Decreased by 1.94% 16.63",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_revenue",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "operating revenues: 52bn",
      "golden_context": "Page 18:\n\nutable to the Parent Company was RMB 21,309million, a decrease of RMB 4,964 million or\n18.89% over the same period last year; The basic earnings per share was RMB0.9370, a decrease of\nRMB 0.2183 or 18.89% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 52,060,482,557.85 55,646,253,991.83 -6.44\nOperating costs 22,232,888,528.67 21,113,077,634.36 5.30\nSelling expenses 165,177,033.72 150,419,652.08 9.81\nAdministrative Expenses 1,360,283,180.14 1,359,765,980.97 0.04\nFinancial expenses 4,091,934,992.09 4,751,369,573.92 -13.88\nResearch and development\nexpenses\n89,655,150.76 39,416,834.88 127.45\nNet cash flows from operating\nactivities\n30,912,732,230.12 35,732,461,733.26 -13.49\nNet cash flow generated in\ninvestment activities\n-4,093,091,567.88 -6,565,209,402.80 -37.65\nNet cash flows from financing\nactivities\n-27,583,928,909.24 -28,380,741,024.38 -2.81\nMain businesses (by industry)\nIndustry\nOperating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n43,598,734,825.79 16,900,658,225.9\n4 61.24 -10.57 2.03\nDecreased\nby 4.78%\nOther\nindustries\n7,241,926,790.39 4,693,176,916.70 35.19 23.00 17.43 Increased\nby 3.07%\nMain businesses (by product)\nProduct Operating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic 43,598,734,825.79 16,900,658,225.9 61.24 -10.57 2.03 Decreased\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of princ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_revenue_growth",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "operating revenues: 52bn, prior year: 56bn",
      "golden_context": "Page 18:\n\nutable to the Parent Company was RMB 21,309million, a decrease of RMB 4,964 million or\n18.89% over the same period last year; The basic earnings per share was RMB0.9370, a decrease of\nRMB 0.2183 or 18.89% over the same period last year.\n(I) Analysis of Main Business\n1. Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the previous\nyear\nChange\nproportion\n(%)\nOperating revenues 52,060,482,557.85 55,646,253,991.83 -6.44\nOperating costs 22,232,888,528.67 21,113,077,634.36 5.30\nSelling expenses 165,177,033.72 150,419,652.08 9.81\nAdministrative Expenses 1,360,283,180.14 1,359,765,980.97 0.04\nFinancial expenses 4,091,934,992.09 4,751,369,573.92 -13.88\nResearch and development\nexpenses\n89,655,150.76 39,416,834.88 127.45\nNet cash flows from operating\nactivities\n30,912,732,230.12 35,732,461,733.26 -13.49\nNet cash flow generated in\ninvestment activities\n-4,093,091,567.88 -6,565,209,402.80 -37.65\nNet cash flows from financing\nactivities\n-27,583,928,909.24 -28,380,741,024.38 -2.81\nMain businesses (by industry)\nIndustry\nOperating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n43,598,734,825.79 16,900,658,225.9\n4 61.24 -10.57 2.03\nDecreased\nby 4.78%\nOther\nindustries\n7,241,926,790.39 4,693,176,916.70 35.19 23.00 17.43 Increased\nby 3.07%\nMain businesses (by product)\nProduct Operating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic 43,598,734,825.79 16,900,658,225.9 61.24 -10.57 2.03 Decreased\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of princ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000408_segments",
      "report_id": "ID_000408",
      "company_name": "China Yangtze Power Co",
      "year": 2022,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Domestic hydropower industry and Other industries",
      "golden_context": "Page 18-19:\n\nMain businesses (by industry)\nIndustry\nOperating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic\nhydropower\nindustry\n43,598,734,825.79 16,900,658,225.9\n4 61.24 -10.57 2.03\nDecreased\nby 4.78%\nOther\nindustries\n7,241,926,790.39 4,693,176,916.70 35.19 23.00 17.43 Increased\nby 3.07%\nMain businesses (by product)\nProduct Operating\nrevenues\nOperating costs\nGross\nprofit\nrate\n(%)\nIncrease &\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in\nthe gross\nmargin\nover last\nyear (%)\nDomestic 43,598,734,825.79 16,900,658,225.9 61.24 -10.57 2.03 Decreased\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\n17\nhydropower\nindustry\n4 by 4.78%\nOther\nindustries\n7,241,926,790.39 4,693,176,916.70 35.19 23.00 17.43 Increased\nby 3.07%\n2022 Annual Report\n(2). Analytical statement of production and sales volume\n□ Applicable √ Inapplicable\n(3). Performance for major purchase contracts and ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_cash_flow",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 65bn, investing: -13bn, financing: -55bn",
      "golden_context": "Page 17:\n\n.513 billion yuan, an increase of 14.81%; earnings per share were 1.1132 yuan, a year-on-year increase\nof 0.1435 yuan, an increase of 14.81%.\n1. (I) Analysis of Main Business\nAnalysis of Changes in Relevant Items to Income Statement and the Statement of Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the\nprevious year\nChange proportion\n(%)\nOperating revenues 78,111,573,265.75 68,863,128,424.25 13.43\nOperating costs 32,942,554,525.43 29,524,219,483.64 11.58\nSelling expenses 192,385,627.70 172,538,067.61 11.50\nAdministrative Expenses 1,363,314,584.28 1,537,855,652.43 -11.35\nFinancial expenses 12,556,406,948.81 9,581,366,456.35 31.05\nR&D expenses 788,922,297.30 89,655,150.76 779.95\nNet cash flows from operating\nactivities\n64,718,720,441.75 43,476,502,138.14 48.86\nNet cash flows from investing\nactivities\n-12,805,985,011.19 -11,701,815,857.20 9.44\nNet cash flows from financing\nactivities\n-54,802,283,942.93 -31,568,531,116.29 73.60\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_company_type",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\n2023 Annual Report\nCompany abbreviation: CYPC\nChina Yangtze Power Co., Ltd.\n2023 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_key_financials",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 78bn, Net profit\nattributable to\nshareholders of\nthe Listed\nCompany: 27bn,\nnet cash flows from operating activities: 65bn,\nbasic EPS: 1.1132",
      "golden_context": "Page 7:\n\nVII. Principal Accounting Data and Financial Index in the Last Three Years\n(I) Principal Accounting Data\nUnit: yuan Currency: RMB\nPrincipal\naccounting data\n2023\n2022 After adjustment Before adjustment\nIncrease &\ndecrease\nin this\nperiod\nover the\nsame\nperiod of\nlast year\n(%)\n2021\nOperating\nrevenues\n78,111,573,265.75 68,863,128,424.25 52,060,482,557.85 13.43 55,646,253,991.83\nNet profit\nattributable to\nshareholders of\nthe Listed\nCompany\n27,238,970,860.70 23,725,915,960.71 21,309,033,980.94 14.81 26,272,998,503.24\nNet profit\nattributable to\nshareholders of\nthe Company\nnet of\nnon-recurring\nprofit or loss\n27,508,231,223.76 21,392,344,535.58 21,392,344,535.58 28.59 24,141,419,619.03\nNet cash flows\nfrom operating\nactivities\n64,718,720,441.75 43,476,502,138.14 30,912,732,230.12 48.86 35,732,461,733.26\nEnd of 2023\nEnd of After adjustment 2022 Before adjustment\nIncrease &\ndecrease at\nthe end of\nthis period\nover the\nend of the\nsame\nperiod of\nlast year\n(%)\nEnd of 2021\nNet assets\nattributable\nto shareholders\nof the Listed\nCompany\n201,330,025,517.69 227,672,712,353.16 185,488,250,616.82 -11.57 181,063,819,486.27\nTotal assets 571,942,544,909.29 578,453,569,418.28 327,268,285,047.33 -1.13 328,563,281,639.20\nPrincipal financial indexes 2023\nAfter\nadjustment\nBefore\nadjustment\n2022 Increase & decrease\nin this period over\nthe same period of\nlast year (%)\n2021\nBasic earnings per share\n(RMB/share) 1.1132 0.9697 0.9370 14.81 1.1553\nDiluted earnings per share\n(RMB/share) 1.1132 0.9697 0.9370 14.81 1.1553\n(II) Principal Financial Indexes\n7 / 308\nBasic earnings per share net\nof non-recurring profit and\nloss (RMB/share)\n1.1242 0.9407 0.9407 19.52 1.0615\nWeighted average ROE (%) 13.52 9.32 11.73 Increased by 4.20% 14.92\nWeighted mean ROE (%) net\nof non-recurring profits and\nlosses\n14.13 11.77 11.77 Increased by 2.36% 13.71\nQ1\n(January - March)\nQ2\n(April - June)\nQ3\n(July - September)\nQ4\n(October -\nDecember)\nOperating revenues 15,397,466,574.25 15,577,428,445.37 26,880,240,634.80 20,256,437,611.33\nNet profit attributable\nto shareholders of the\nListed Company\n3,612,922,772.00 5,269,144,988.22 12,641,778,084.74 5,715,125,015.74\nNet profit attributable\nto shareholders of the\nlisted company net of\nnon-recurring profits\nor losses\n3,570,493,979.61 4,925,929,447.43 12,959,987,709.68 6,051,820,087.04\nNet cash flows from\noperating activities",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_revenue",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "78bn",
      "golden_context": "Page 17:\n\n.513 billion yuan, an increase of 14.81%; earnings per share were 1.1132 yuan, a year-on-year increase\nof 0.1435 yuan, an increase of 14.81%.\n1. (I) Analysis of Main Business\nAnalysis of Changes in Relevant Items to Income Statement and the Statement of Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the\nprevious year\nChange proportion\n(%)\nOperating revenues 78,111,573,265.75 68,863,128,424.25 13.43\nOperating costs 32,942,554,525.43 29,524,219,483.64 11.58\nSelling expenses 192,385,627.70 172,538,067.61 11.50\nAdministrative Expenses 1,363,314,584.28 1,537,855,652.43 -11.35\nFinancial expenses 12,556,406,948.81 9,581,366,456.35 31.05\nR&D expenses 788,922,297.30 89,655,150.76 779.95\nNet cash flows from operating\nactivities\n64,718,720,441.75 43,476,502,138.14 48.86\nNet cash flows from investing\nactivities\n-12,805,985,011.19 -11,701,815,857.20 9.44\nNet cash flows from financing\nactivities\n-54,802,283,942.93 -31,568,531,116.29 73.60\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_revenue_growth",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "78bn, prior year: 69bn",
      "golden_context": "Page 17:\n\n.513 billion yuan, an increase of 14.81%; earnings per share were 1.1132 yuan, a year-on-year increase\nof 0.1435 yuan, an increase of 14.81%.\n1. (I) Analysis of Main Business\nAnalysis of Changes in Relevant Items to Income Statement and the Statement of Cash Flow\nUnit: yuan Currency: RMB\nItem Balance of this period\nAmount in the same\nperiod of the\nprevious year\nChange proportion\n(%)\nOperating revenues 78,111,573,265.75 68,863,128,424.25 13.43\nOperating costs 32,942,554,525.43 29,524,219,483.64 11.58\nSelling expenses 192,385,627.70 172,538,067.61 11.50\nAdministrative Expenses 1,363,314,584.28 1,537,855,652.43 -11.35\nFinancial expenses 12,556,406,948.81 9,581,366,456.35 31.05\nR&D expenses 788,922,297.30 89,655,150.76 779.95\nNet cash flows from operating\nactivities\n64,718,720,441.75 43,476,502,138.14 48.86\nNet cash flows from investing\nactivities\n-12,805,985,011.19 -11,701,815,857.20 9.44\nNet cash flows from financing\nactivities\n-54,802,283,942.93 -31,568,531,116.29 73.60\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000409_segments",
      "report_id": "ID_000409",
      "company_name": "China Yangtze Power Co",
      "year": 2023,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Domestic hydropower industry and Other industries",
      "golden_context": "Page 17:\n\nities\n-12,805,985,011.19 -11,701,815,857.20 9.44\nNet cash flows from financing\nactivities\n-54,802,283,942.93 -31,568,531,116.29 73.60\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2. Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\nMain businesses (by industry)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease\n&\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n69,045,614,156.02 26,947,851,396.42 60.97 12.39 8.95 Increase\n1.23%\nOther\nindustries\n8,794,693,615.64 5,912,607,285.59 32.77 21.44 25.98 Decrease\n2.42%\nMain businesses (by product)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease\n&\ndecrease\nin the\noperating\nincome\nover last\nyear (%)\nIncrease &\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\n17 / 308\nDomestic\nhydropower\nindustry\n69,045,614,156.02 26,947,851,396.42 60.97 12.39 8.95 Increase\n1.23%\nOther\nindustries\n8,794,693,615.64 5,912,607,285.59 32.77 21.44 25.98 Decrease\n2.42%\nCondition (by industry)\nIndustry Cost items\nAmount in the current\nperiod\nProportion\nof the\namount in\nthe\ncurrent\nperiod out\nof the\ntotal cost\n(%)\nAmount of the same\nperiod in the previous\nyear\nProportion\nof the\namount in\nthe same\nperiod of\nthe\nprevious\nyear out\nof the\ntotal cost\n(%)\nProportion\nof change\nin the\namount of\nthe\ncurrent\nperiod\ncompared\nwith the\nsame\nperiod in\nthe\nprevious\nyear (%)\nDomestic\nhydropower\nindustry\nDepreciation\ncost and\nvarious\nfinancial\nlevies and\ncharges\n26,947,851,396.42 54.50 24,734,015,535.29 58.38 8.95\nOther\nindustries\nMaterials\nexpense and\nlabor cost\n5,912,607,285.59 11.96 4,693,176,916.70 11.08 25.98\nMain businesses (by product)\nProduct Cost items\nAmount in the current\nperiod\nProportion\nof the\namount in\nthe\ncurrent\nperiod out\nof the\ntotal cost\n(%)\nAmount of the same\nperiod in the previous\nyear\nProportion\nof the\namount in\nthe same\nperiod of\nthe\nprevious\nyear out\nof the\ntotal cost\n(%)\nProportion\nof change\nin the\namount of\nthe\ncurrent\nperiod\ncompared\nwith the\nsame\nperiod in\nthe\nprevious\nyear (%)\nDomestic\nDepreciation\ncost and 26,947,851,396.42 54.50 24,734,015,535.29 58.38 8.95\n2023 Annual Report\n(2). Analytical statement of production and sales volume\n□ Applicable √ Inapplicable\n(3). Performance for major purchase contracts and major s",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_cash_flow",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 60bn, investing: -11bn, financing: -50bn",
      "golden_context": "Page 16:\n\nwas 38.862 billion yuan, an increase of 6.438 billion yuan year-on-year, an increase of 19.86%;\nThe net profit attributable to the parent company was 32.496 billion yuan, an increase of 5.251 billion\nyuan year-on-year, a growth of 19.28%; earnings per share was 1.3281 yuan, an increase of 0.2146 yuan\nyear-on-year, a growth of 19.28%.\n(I) Analysis of Main Business\n1、 Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\n16 / 301\nFinancial expenses 11,131,343,530.28 12,560,377,796.60 -11.38\nResearch and development\nexpenses\n890,719,278.34 788,922,297.30 12.90\nNet cash flows from operating\nactivities\n59,648,468,284.22 64,749,448,288.66 -7.88\nNet cash flows from investing\nactivities\n-10,775,203,354.20 -12,990,532,767.50 -17.05\nNet cash flows from financing\nactivities\n-50,193,750,798.14 -54,603,531,605.00 -8.08\nCYPC 2024 Annual Report\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2、 Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\nMain businesses (by industry)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease &\ndecrease in\nthe\noperating\nincome\nover last\nyear (%)\nIncrease\n&\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n74,478,717,584.20 27,921,026,583.55 62.51 7.87 3.61 Increase by\n1.54%\nOther\nindustries\n9,806,151,371.86 6,465,832,014.24 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_company_type",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nChina Yangtze Power Co., Ltd.\n2024 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_key_financials",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "key_financials",
      "golden_answer": "Operating revenues: 84bn, Net profit\nattributable to\nshareholders of\nthe Listed\nCompany: 32bn, net cash flows from operating activities: 60bn, basic EPS: 1.3281",
      "golden_context": "Page 7:\n\nVII. Principal Accounting Data and Financial Index in the Recent Three Years\n(I) Principal Accounting Data\nPrincipal\naccounting data\nUnit: yuan Currency: RMB\n2024\n2023 Increase &\nAfter adjustment Before adjustment\ndecrease in\nthis period\nover the\nsame\nperiod of\nlast year\n(%)\n2022\nOperating\nrevenues\n84,491,870,566.52 78,143,535,736.10 78,111,573,265.75 8.12 68,863,128,424.25\nNet profit\nattributable to\nshareholders of\nthe Listed\nCompany\n32,496,172,808.65 27,244,616,815.27 27,238,970,860.70 19.28 23,725,915,960.71\nNet profit\nattributable to\nshareholders of\nthe Company net\nof non-recurring\nprofit or loss\n32,507,551,977.06 27,508,231,223.76 27,508,231,223.76 18.17 21,392,344,535.58\nNet cash flows\nfrom operating\nactivities\n59,648,468,284.22 64,749,448,288.66 64,718,720,441.75 -7.88 43,476,502,138.14\nEnd of 2024\nEnd of 2023 After adjustment Before adjustment\nIncrease &\ndecrease at\nthe end of\nthis period\nover the\nend of the\nsame\nperiod of\nlast year\n(%)\nEnd of 2022\nNet assets\nattributable to\nshareholders of\nthe Listed\n210,288,410,895.97 201,453,338,461.43 201,330,025,517.69 4.39 227,672,712,353.16\nCompany\nTotal assets 566,071,979,792.34 572,938,869,543.08 571,942,544,909.29 -1.20 578,453,569,418.28\nPrincipal financial indexes 2024\n2023 Increase &\nAfter\nadjustment\nBefore\nadjustment\ndecrease in\nthis period\nover the\nsame period\nof last year\n(%)\n2022\nBasic earnings per share\n(RMB/share) 1.3281 1.1135 1.1132 19.28 0.9697\n(II) Principal Financial Indexes\n7 / 301\nDiluted earnings per share\n(RMB/share) 1.3281 1.1135 1.1132 19.28 0.9697\nBasic earnings per share net of\nnon-recurring profit and loss\n(RMB/share)\n1.3286 1.1242 1.1242 18.17 0.9407\nWeighted average ROE (%) 15.71 13.52 13.52 Increased\nby 2.19% 9.32\nWeighted mean ROE (%) net of\nnon-recurring profits and losses\n15.72 14.13 14.13 Increased\nby 1.59% 11.77\nQ1\n(January - March)\nQ2\n(April - June)\nUnit: yuan Currency: RMB\nQ3\n(July - September)\nQ4\n(October -\nDecember)\nOperating revenues 15,640,900,490.43 19,167,409,511.70 31,522,370,743.42 18,161,189,820.97\nNet profit attributable\nto shareholders of the\nListed Company\n3,966,850,824.31 7,395,474,393.44 16,662,597,995.07 4,471,249,595.83\nNet profit attributable\nto shareholders of the\nlisted company net of\nnon-recurring profits\nor losses\n3,979,448,003.79 7,390,925,921.79 16,613,907,469.39 4,523,270,582.09\nNet cash flows from\noperating activities\n12,093,344,021.00 10,890,619,902.72 24,664,359,661.46 12,000,144,699.04\nCYPC 2024 Annual Report\nDescription on major accounting data and financial indexes in past three years at the end of\nreporting period\n√ Applicable □ Inapplicable\nDuring the reporting period, the Company exper",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_revenue",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue",
      "golden_answer": "Operating revenues: 84bn ",
      "golden_context": "Page 16:\n\nwas 38.862 billion yuan, an increase of 6.438 billion yuan year-on-year, an increase of 19.86%;\nThe net profit attributable to the parent company was 32.496 billion yuan, an increase of 5.251 billion\nyuan year-on-year, a growth of 19.28%; earnings per share was 1.3281 yuan, an increase of 0.2146 yuan\nyear-on-year, a growth of 19.28%.\n(I) Analysis of Main Business\n1、 Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\n16 / 301\nFinancial expenses 11,131,343,530.28 12,560,377,796.60 -11.38\nResearch and development\nexpenses\n890,719,278.34 788,922,297.30 12.90\nNet cash flows from operating\nactivities\n59,648,468,284.22 64,749,448,288.66 -7.88\nNet cash flows from investing\nactivities\n-10,775,203,354.20 -12,990,532,767.50 -17.05\nNet cash flows from financing\nactivities\n-50,193,750,798.14 -54,603,531,605.00 -8.08\nCYPC 2024 Annual Report\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2、 Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\nMain businesses (by industry)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease &\ndecrease in\nthe\noperating\nincome\nover last\nyear (%)\nIncrease\n&\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n74,478,717,584.20 27,921,026,583.55 62.51 7.87 3.61 Increase by\n1.54%\nOther\nindustries\n9,806,151,371.86 6,465,832,014.24 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_revenue_growth",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenues: 84bn, prior year: 78bn",
      "golden_context": "Page 16:\n\nwas 38.862 billion yuan, an increase of 6.438 billion yuan year-on-year, an increase of 19.86%;\nThe net profit attributable to the parent company was 32.496 billion yuan, an increase of 5.251 billion\nyuan year-on-year, a growth of 19.28%; earnings per share was 1.3281 yuan, an increase of 0.2146 yuan\nyear-on-year, a growth of 19.28%.\n(I) Analysis of Main Business\n1、 Analysis of Changes in Items Relevant to Statements of Profit and Cash Flow\nUnit: yuan Currency: RMB\n16 / 301\nFinancial expenses 11,131,343,530.28 12,560,377,796.60 -11.38\nResearch and development\nexpenses\n890,719,278.34 788,922,297.30 12.90\nNet cash flows from operating\nactivities\n59,648,468,284.22 64,749,448,288.66 -7.88\nNet cash flows from investing\nactivities\n-10,775,203,354.20 -12,990,532,767.50 -17.05\nNet cash flows from financing\nactivities\n-50,193,750,798.14 -54,603,531,605.00 -8.08\nCYPC 2024 Annual Report\nDetailed description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2、 Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\nMain businesses (by industry)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease &\ndecrease in\nthe\noperating\nincome\nover last\nyear (%)\nIncrease\n&\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n74,478,717,584.20 27,921,026,583.55 62.51 7.87 3.61 Increase by\n1.54%\nOther\nindustries\n9,806,151,371.86 6,465,832,014.24 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000410_segments",
      "report_id": "ID_000410",
      "company_name": "China Yangtze Power Co",
      "year": 2024,
      "country": "CN",
      "industry": "Utilities",
      "question_type": "segments",
      "golden_answer": "Domestic hydropower industry and Other industries",
      "golden_context": "Page 17:\n\niled description of major changes in the Company's business type, profit composition, or source in\nthe current period\n□ Applicable √ Inapplicable\n2、 Income and Cost Analysis\n√ Applicable □ Inapplicable\n(1). Performance of principal businesses by segment, by product, by region and by sales model\nUnit: yuan Currency: RMB\nMain businesses (by industry)\nIndustry Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease &\ndecrease in\nthe\noperating\nincome\nover last\nyear (%)\nIncrease\n&\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n74,478,717,584.20 27,921,026,583.55 62.51 7.87 3.61 Increase by\n1.54%\nOther\nindustries\n9,806,151,371.86 6,465,832,014.24 34.06 11.10 9.07 Increase by\n1.22%\nMain businesses (by product)\nProduct Operating revenues Operating costs\nGross\nprofit\nrate (%)\nIncrease &\ndecrease in\nthe\noperating\nincome\nover last\nyear (%)\nIncrease\n&\ndecrease\nin the\noperating\ncost over\nlast year\n(%)\nIncrease &\ndecrease in the\ngross margin\nover last year\n(%)\nDomestic\nhydropower\nindustry\n74,478,717,584.20 27,921,026,583.55 62.51 7.87 3.61 Increase by\n1.54%\nOther\nindustries\n9,806,151,371.86 6,465,832,014.24 34.06 11.10 9.07 Increase by\n1.22%\n(2). Analytical statement of production and sales volume\n□ Applicable √ Inapplicable\n(3). Performance for major purchase contracts and major sales contracts\n□ Applicable √ Inapplicable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_cash_flow",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 145049m, investing: -103432m, financing: -40545m",
      "golden_context": "Page 36:\n\nthe associate company, China\nTower Corporation Limited (“China Tower”), was not\nsubject to tax during the period of the investment\nheld, the application of preferential policies such\nas additional tax deduction from research and\ndevelopment expenses, and some subsidiaries and\nsome branches located in the western region of\nChina enjoyed low tax rates.\nCapital Expenditure And Cash Flows\nCapital expenditure\nIn 2024, the Company actively maintained a prudent\ninvestment strategy, continuously enhanced\ni n v e s t m e n t e f f i c i e n c y , a n d a c c e l e r a t e d t h e\nenhancement and upgrade of new digital information\ninfrastructure. The Company continuously optimised\nthe layout of cloud-intelligent integrated computing\npower infrastructure and consolidated the key\nfoundation for high-quality development. At the\nsame time, the Company further deepened 5G\nco-building and co-sharing as well as 4G network\nco-sharing. Capital expenditure for the year was\nRMB93,513 million, representing a decrease of 5.4%\nfrom year 2023.\nCash flows\nIn 2024, the net increase in cash and cash equivalents\nwas RMB1,072 million.\nThe following table sets forth the cash flow position\nin 2024 and 2023:\n(RMB million, except percentage data) For the year ended 31 December\n2024 2023 Rates of change\nNet cash flow from operating activities 145,049 137,508 5.5%\nNet cash used in investing activities (103,432) (95,492) 8.3%\nNet cash used in financing activities (40,545) (33,477) 21.1%\nNet increase in cash and cash equivalents 1,072 8,539 (87.4%)\nChina Telecom Corporation Limited Annual Report 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_company_type",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\nBOUT CHINA TELECOM\nThe principal business of China Telecom Corporation\nLimited (“China Telecom” or the “Company”, a joint stock\nlimited company incorporated in the People’s Republic of\nChina with limited liability, together with its subsidiaries,\ncollectively the “Group”) is digital information services\nincluding mobile communications, wireline communications,\nsatellite communications, Internet access, cloud computing\nand computing power, Big Data, AI, quantum, ICT\nintegration, etc. The Company’s A Shares and H Shares are\nlisted on the Shanghai Stock Exchange and the Main Board\nof The Stock Exchange of Hong Kong Limited, respectively.\nCONTENTS\n002 Important Notice\nSECTION I\n003 Definitions\nSECTION II\n007 Company Profile\nSECTION III\n009 Management’s Discussion and Analysis (Report of the Directors)\n052 Recognition and Awards\nSECTION IV\n054 Corporate Governance Report\n061 Biographical Details of Current Directors,\nSenior Management and Supervisors\nSECTION V\n102 Environmental and Social Responsibilities\nSECTION VI\n106 Significant Events\nSECTION VII\n141 Changes in Shares and Information on Shareholders\nSECTION VIII\n150 Financial Reports\n150 Independent Auditor’s Report\n157 Consolidated Statement of Financial Position\n159 Consolidated Statement of Comprehensive Income\n161 Consolidated Statement ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_key_financials",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "operating revenues RMB529.4bn, increase of 3.1%. EBITDA RMB140.8bn",
      "golden_context": "Page 11:\n\n. Overall Results\nIn 2024, the Company’s operating revenues\namounted to RMB529.4 billion, representing\nan increase of 3.1% year-on-year. Of which,\nservice revenues1 amounted to RMB482.0 billion,\nr e p r e s e n t i n g a n i n c r e a s e o f 3 . 7 % y e a r - o n -\nyear. EBITDA2 amounted to RMB140.8 billion,\nrepresenting an increase of 2.9% year-on-year. Net\nprofit3 amounted to RMB33.0 billion, representing an\nincrease of 8.4% year-on-year, and the basic earnings\nper share were RMB0.36. Capital expenditure was\nRMB93.5 billion, representing a decrease of 5.4%\nyear-on-year. Free cash flow4 reached RMB22.2\nbillion, representing an increase of 70.7% year-on-\nyear.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_revenue",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "operating revenues RMB529.4bn",
      "golden_context": "Page 11:\n\n. Overall Results\nIn 2024, the Company’s operating revenues\namounted to RMB529.4 billion, representing\nan increase of 3.1% year-on-year. Of which,\nservice revenues1 amounted to RMB482.0 billion,\nr e p r e s e n t i n g a n i n c r e a s e o f 3 . 7 % y e a r - o n -\nyear. EBITDA2 amounted to RMB140.8 billion,\nrepresenting an increase of 2.9% year-on-year. Net\nprofit3 amounted to RMB33.0 billion, representing an\nincrease of 8.4% year-on-year, and the basic earnings\nper share were RMB0.36. Capital expenditure was\nRMB93.5 billion, representing a decrease of 5.4%\nyear-on-year. Free cash flow4 reached RMB22.2\nbillion, representing an increase of 70.7% year-on-\nyear.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_revenue_growth",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "operating revenues RMB529.4bn, increase of 3.1%",
      "golden_context": "Page 11:\n\n. Overall Results\nIn 2024, the Company’s operating revenues\namounted to RMB529.4 billion, representing\nan increase of 3.1% year-on-year. Of which,\nservice revenues1 amounted to RMB482.0 billion,\nr e p r e s e n t i n g a n i n c r e a s e o f 3 . 7 % y e a r - o n -\nyear. EBITDA2 amounted to RMB140.8 billion,\nrepresenting an increase of 2.9% year-on-year. Net\nprofit3 amounted to RMB33.0 billion, representing an\nincrease of 8.4% year-on-year, and the basic earnings\nper share were RMB0.36. Capital expenditure was\nRMB93.5 billion, representing a decrease of 5.4%\nyear-on-year. Free cash flow4 reached RMB22.2\nbillion, representing an increase of 70.7% year-on-\nyear.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000411_segments",
      "report_id": "ID_000411",
      "company_name": "China Telecom Corporation Limited",
      "year": 2024,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "For the years presented, management has determined\nthat the Group has one operating segment as the Group is only engaged in the integrated\ntelecommunications business. ",
      "golden_context": "Page 186:\n\n(v) (vi) The entity and the Group are members of the same group (which means that each parent,\nsubsidiary and fellow subsidiary is related to the others);\nThe entity is an associate or joint venture of the Group (or an associate or joint venture\nof a member of a group of which the Group is a member); or the Group is an associate\nor joint venture of the entity (or an associate or joint venture of a member of a group of\nwhich the entity is a member);\nThe entity and the Group are joint ventures of the same third party;\nThe entity is a joint venture of a third entity and the Group is an associate of the third\nentity; or the Group is a joint venture of a third entity and the entity is an associate of the\nthird entity;\nThe entity is controlled or jointly controlled by a person identified in (a);\nA person identified in (a)(i) has significant influence over the entity or is a member of the\nkey management personnel of the entity (or of a parent of the entity).\nClose members of the family of a person are those family members who may be expected to\ninfluence, or be influenced by, that person in their dealings with the entity.\n(l) Segment reporting\nAn operating segment is a component of an entity that engages in business activities from which\nrevenues are earned and expenses are incurred, and is identified on the basis of the internal financial\nreports that are regularly reviewed by the chief operating decision maker (“CODM”) in order to\nallocate resources and assess performance of the segment. The CODM has been identified as\nthe Executive Directors of the Company. For the years presented, management has determined\nthat the Group has one operating segment as the Group is only engaged in the integrated\ntelecommunications business. The Group’s assets located outside mainland China and operating\nrevenues derived from activities outside mainland China are less than 10% of the Group’s assets\nand operating revenues, respectively. No geographical area information has been presented as\nsuch amount is immaterial. No single external customer accounts for 10% or more of the Group’s\noperating revenues.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_cash_flow",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 137508m, investing: -95492m, financing: -33477m",
      "golden_context": "Page 35:\n\nin the associate company, China Tower Corporation\nLimited (“China Tower”), was not subject to tax during\nthe period of the investment held, the application of\npreferential policies such as additional tax deduction\nfrom research and development expenses, and some\nsubsidiaries and some branches located in the western\nregion of China enjoyed low tax rates.\nCAPITAL EXPENDITURE AND CASH\nFLOWS\nCapital expenditure\nIn 2023, in order to support the construction of 5G\nnetwork at scale and strengthen the support and\nassurance for strategic emerging businesses, the\nCompany increased the investment in cloud-network\nintegrated digital information infrastructure, proactively\ngrasped the development trends of AI and stepped up\nthe investment and building of intelligent computing\ncapabilities. At the same time, the Company further\ndeepened 5G co-building and co-sharing as well as 4G\nnetwork co-sharing, and continuously enhanced the depth\nand breadth of its 5G coverage. Capital expenditure for\nthe year was RMB98,838 million, representing an\nincrease of 6.8% from year 2022.\nCash flows\nIn 2023, the net increase in cash and cash equivalents\nwas RMB8,539 million.\nThe following table sets forth the cash flow position in\n2023 and 2022:\n(RMB million) For the year ended 31 December\n2023 2022\nNet cash flow from operating activities 137,508 136,432\nNet cash used in investing activities (95,492) (96,796)\nNet cash used in financing activities (33,477) (40,906)\nNet increase/(decrease) in cash and cash equivalents 8,539 (1,270)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_company_type",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\nABOUT CHINA TELECOM\nChina Telecom Corporation Limited (“China Telecom” or the\n“Company”, a joint stock limited company incorporated in the\nPeople’s Republic of China with limited liability, together with\nits subsidiaries, collectively the “Group”) is a leading large-\nscale integrated intelligent information services operator in the\nworld whose principal business is the provision of fundamental\ntelecommunications businesses including wireline, mobile\ncommunications and satellite communications services, value-\nadded telecommunications businesses such as Internet access\nservices, information services and other related businesses.\nThe Company’s A Shares and H Shares are listed on the\nShanghai Stock Exchange and the Main Board of The Stock\nExchange of Hong Kong Limited, respectively.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_key_financials",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "RMB513.6bn operating revenues, increase of 6.7%. EBITDA is RMB136.8bn",
      "golden_context": "Page 12:\n\n1. OVERALL RESULTS\nIn 2023, the Company’s operating revenues amounted to\nRMB513.6 billion, representing an increase of 6.7% year-\non-year. Service revenues1 amounted to RMB465.0 billion,\nrepresenting an increase of 6.9% year-on-year,\nmaintaining growth for 11 consecutive years. EBITDA2\namounted to RMB136.8 billion, representing an increase\nof 5.0% year-on-year. Net profit3 amounted to RMB30.4\nbillion, representing an increase of 10.3% year-on-year,\nand the basic earnings per share were RMB0.33. Capital\nexpenditure was RMB98.8 billion and free cash flow4\nreached RMB13.0 billion.\nOver the past three years since its A Shares listing, the\nCompany seized opportunities, upheld fundamental\nprinciples and broke new ground, and carried out\nexpansion and upgrades, successfully fulfilling its\ncommitment made during A Shares issuance, and\ncontinuously sharing new development achievements\nwith shareholders, customers and the society. Service\nrevenues maintained good growth and the compound\ngrowth rate for three years was higher than the industry\naverage. The proportion of Industrial Digitalisation within\nincremental service revenues increased by 24.5 p.p. to\nreach 70.4%. Profitability remained strong, with net\nprofit achieving double-digit growth for three consecutive\nyears. Shareholders’ return increased significantly, with\nthe dividend payout ratio increasing to over 70% within\nthree years, and the compound growth rate of dividend\nper share for three years reaching 31%, being the\nhighest in the industry. The market capitalisation\nmanagement achieved remarkable results, with its\nmarket capitalisation at the end of 2023 increasing to\n3.2 times more than that at the end of 2020.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and cash\nflow generation capabilities. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2023 of\nRMB0.090 per share (pre-tax) shall be declared.\nTogether with the 2023 interim dividend of RMB0.1432\nper share (pre-tax), which has been already distributed,\nthe full year dividend of 2023 amounts to RMB0.2332\nper share (pre-tax), and the aggregate amount of the full\nyear dividend increased by 19.0% year-on-year. This\nrepresents over 70% of the profit attributable to equity\nholders of the Company for the year, successfully\nfulfilling the profit distribution commitment made during\nthe Company’s A Shares issuance. Within three years\nfrom 2024, the profit distributed in cash will gradually\nincrease to above 75% of the profit attributable to equity\nholders of the Company for the year, striving to create\nmore value for shareholders.\n2. FULLY IMPLEMENTED\nCLOUDIFICATION AND DIGITAL\nTRANSFORMATION STRATEGY, WITH\nNEW ACHIEVEMENTS IN CORPORATE\nHIGH-QUALITY DEVELOPMENT\nIn 2023, the Company firmly seized opportunities arising\nfrom growing demands for digital transformation and\nintelligent upgrades from the economy and society, gave\nfull play to its edges in cloud-network integration and\npushed forward upgrades of digital information\ninfrastructure. Insisting on the leading role of sci-tech\ninnovation, while harnessing driving forces from reforms\nand opening up, the Company effectively stimulated the\nvitality of its talent teams, comprehensively promoted\ngreen transformation and development, continued\nsatisfying customers’ desires for a better new digital life,\nwith its customer perception and service reputation\ncontinuing to elevate. Business revenue maintained\nsteady growth and its operating capabilities were further\nstrengthened, achieving new results in corporate high-\nquality development.\n1 Service revenues are calculated based on operating revenues minus sales of mobile terminals, sales of wireline ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_revenue",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "RMB513.6bn operating revenues",
      "golden_context": "Page 12:\n\n1. OVERALL RESULTS\nIn 2023, the Company’s operating revenues amounted to\nRMB513.6 billion, representing an increase of 6.7% year-\non-year. Service revenues1 amounted to RMB465.0 billion,\nrepresenting an increase of 6.9% year-on-year,\nmaintaining growth for 11 consecutive years. EBITDA2\namounted to RMB136.8 billion, representing an increase\nof 5.0% year-on-year. Net profit3 amounted to RMB30.4\nbillion, representing an increase of 10.3% year-on-year,\nand the basic earnings per share were RMB0.33. Capital\nexpenditure was RMB98.8 billion and free cash flow4\nreached RMB13.0 billion.\nOver the past three years since its A Shares listing, the\nCompany seized opportunities, upheld fundamental\nprinciples and broke new ground, and carried out\nexpansion and upgrades, successfully fulfilling its\ncommitment made during A Shares issuance, and\ncontinuously sharing new development achievements\nwith shareholders, customers and the society. Service\nrevenues maintained good growth and the compound\ngrowth rate for three years was higher than the industry\naverage. The proportion of Industrial Digitalisation within\nincremental service revenues increased by 24.5 p.p. to\nreach 70.4%. Profitability remained strong, with net\nprofit achieving double-digit growth for three consecutive\nyears. Shareholders’ return increased significantly, with\nthe dividend payout ratio increasing to over 70% within\nthree years, and the compound growth rate of dividend\nper share for three years reaching 31%, being the\nhighest in the industry. The market capitalisation\nmanagement achieved remarkable results, with its\nmarket capitalisation at the end of 2023 increasing to\n3.2 times more than that at the end of 2020.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and cash\nflow generation capabilities. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2023 of\nRMB0.090 per share (pre-tax) shall be declared.\nTogether with the 2023 interim dividend of RMB0.1432\nper share (pre-tax), which has been already distributed,\nthe full year dividend of 2023 amounts to RMB0.2332\nper share (pre-tax), and the aggregate amount of the full\nyear dividend increased by 19.0% year-on-year. This\nrepresents over 70% of the profit attributable to equity\nholders of the Company for the year, successfully\nfulfilling the profit distribution commitment made during\nthe Company’s A Shares issuance. Within three years\nfrom 2024, the profit distributed in cash will gradually\nincrease to above 75% of the profit attributable to equity\nholders of the Company for the year, striving to create\nmore value for shareholders.\n2. FULLY IMPLEMENTED\nCLOUDIFICATION AND DIGITAL\nTRANSFORMATION STRATEGY, WITH\nNEW ACHIEVEMENTS IN CORPORATE\nHIGH-QUALITY DEVELOPMENT\nIn 2023, the Company firmly seized opportunities arising\nfrom growing demands for digital transformation and\nintelligent upgrades from the economy and society, gave\nfull play to its edges in cloud-network integration and\npushed forward upgrades of digital information\ninfrastructure. Insisting on the leading role of sci-tech\ninnovation, while harnessing driving forces from reforms\nand opening up, the Company effectively stimulated the\nvitality of its talent teams, comprehensively promoted\ngreen transformation and development, continued\nsatisfying customers’ desires for a better new digital life,\nwith its customer perception and service reputation\ncontinuing to elevate. Business revenue maintained\nsteady growth and its operating capabilities were further\nstrengthened, achieving new results in corporate high-\nquality development.\n1 Service revenues are calculated based on operating revenues minus sales of mobile terminals, sales of wireline ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_revenue_growth",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "RMB513.6bn operating revenues, increase of 6.7%",
      "golden_context": "Page 12:\n\n1. OVERALL RESULTS\nIn 2023, the Company’s operating revenues amounted to\nRMB513.6 billion, representing an increase of 6.7% year-\non-year. Service revenues1 amounted to RMB465.0 billion,\nrepresenting an increase of 6.9% year-on-year,\nmaintaining growth for 11 consecutive years. EBITDA2\namounted to RMB136.8 billion, representing an increase\nof 5.0% year-on-year. Net profit3 amounted to RMB30.4\nbillion, representing an increase of 10.3% year-on-year,\nand the basic earnings per share were RMB0.33. Capital\nexpenditure was RMB98.8 billion and free cash flow4\nreached RMB13.0 billion.\nOver the past three years since its A Shares listing, the\nCompany seized opportunities, upheld fundamental\nprinciples and broke new ground, and carried out\nexpansion and upgrades, successfully fulfilling its\ncommitment made during A Shares issuance, and\ncontinuously sharing new development achievements\nwith shareholders, customers and the society. Service\nrevenues maintained good growth and the compound\ngrowth rate for three years was higher than the industry\naverage. The proportion of Industrial Digitalisation within\nincremental service revenues increased by 24.5 p.p. to\nreach 70.4%. Profitability remained strong, with net\nprofit achieving double-digit growth for three consecutive\nyears. Shareholders’ return increased significantly, with\nthe dividend payout ratio increasing to over 70% within\nthree years, and the compound growth rate of dividend\nper share for three years reaching 31%, being the\nhighest in the industry. The market capitalisation\nmanagement achieved remarkable results, with its\nmarket capitalisation at the end of 2023 increasing to\n3.2 times more than that at the end of 2020.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and cash\nflow generation capabilities. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2023 of\nRMB0.090 per share (pre-tax) shall be declared.\nTogether with the 2023 interim dividend of RMB0.1432\nper share (pre-tax), which has been already distributed,\nthe full year dividend of 2023 amounts to RMB0.2332\nper share (pre-tax), and the aggregate amount of the full\nyear dividend increased by 19.0% year-on-year. This\nrepresents over 70% of the profit attributable to equity\nholders of the Company for the year, successfully\nfulfilling the profit distribution commitment made during\nthe Company’s A Shares issuance. Within three years\nfrom 2024, the profit distributed in cash will gradually\nincrease to above 75% of the profit attributable to equity\nholders of the Company for the year, striving to create\nmore value for shareholders.\n2. FULLY IMPLEMENTED\nCLOUDIFICATION AND DIGITAL\nTRANSFORMATION STRATEGY, WITH\nNEW ACHIEVEMENTS IN CORPORATE\nHIGH-QUALITY DEVELOPMENT\nIn 2023, the Company firmly seized opportunities arising\nfrom growing demands for digital transformation and\nintelligent upgrades from the economy and society, gave\nfull play to its edges in cloud-network integration and\npushed forward upgrades of digital information\ninfrastructure. Insisting on the leading role of sci-tech\ninnovation, while harnessing driving forces from reforms\nand opening up, the Company effectively stimulated the\nvitality of its talent teams, comprehensively promoted\ngreen transformation and development, continued\nsatisfying customers’ desires for a better new digital life,\nwith its customer perception and service reputation\ncontinuing to elevate. Business revenue maintained\nsteady growth and its operating capabilities were further\nstrengthened, achieving new results in corporate high-\nquality development.\n1 Service revenues are calculated based on operating revenues minus sales of mobile terminals, sales of wireline ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000412_segments",
      "report_id": "ID_000412",
      "company_name": "China Telecom Corporation Limited",
      "year": 2023,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "For the years presented, management has determined that the Group has one\noperating segment as the Group is only engaged in the integrated telecommunications business. ",
      "golden_context": "Page 185:\n\ny is a joint venture of a third entity and the Group is an associate of the third entity;\nor the Group is a joint venture of a third entity and the entity is an associate of the third\nentity;\n(v) The entity is controlled or jointly controlled by a person identified in (a);\n(vi) A person identified in (a)(i) has significant influence over the entity or is a member of the key\nmanagement personnel of the entity (or of a parent of the entity).\nClose members of the family of a person are those family members who may be expected to influence,\nor be influenced by, that person in their dealings with the entity.\n(l) Segment reporting\nAn operating segment is a component of an entity that engages in business activities from which\nrevenues are earned and expenses are incurred, and is identified on the basis of the internal financial\nreports that are regularly reviewed by the chief operating decision maker (“CODM”) in order to allocate\nresources and assess performance of the segment. The CODM has been identified as the Executive\nDirectors of the Company. For the years presented, management has determined that the Group has one\noperating segment as the Group is only engaged in the integrated telecommunications business. The\nGroup’s assets located outside mainland China and operating revenues derived from activities outside\nmainland China are less than 10% of the Group’s assets and operating revenues, respectively. No\ngeographical area information has been presented as such amount is immaterial. No single external\ncustomer accounts for 10% or more of the Group’s operating revenues.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_cash_flow",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 136432m, investing: -96796m, financing: -40906m",
      "golden_context": "Page 50:\n\nrk at scale and strengthen its network competitive\nadvantages, the Company proactively expanded the\ndeployments of new infrastructure such as datacentres\nand cloud, built the intelligent integrated digital\ninformation infrastructure, and expedited the construction\nof cloud-network foundation in the computing power\nera. At the same time, the Company further promoted\n5G network co-building and co-sharing as well as\n4G network co-sharing with China Unicom. Capital\nexpenditure for the year was RMB92,528 million,\nrepresenting an increase of 6.7% from year 2021.\nMobile network\n34 34.6 .6% %\nBroadband network\n20 20.1 .1% %\n29 29.3 .3% %\nIndustrial\nDigitalisation\nOperating\nsystems &\ninfrastructure\n16.0%\nCapital Expenditure\nRMB92,528 Mil\nCash flows\nThe net decrease in cash and cash equivalents for year 2022 was RMB1,270 million.\nThe following table sets forth the cash flow position in 2022 and 2021:\nFor the year ended 31 December\n(RMB million) 2022 2021\n(Restated)\nNet cash flow from operating activities 136,432 137,533\nNet cash used in investing activities (96,796) (80,288)\nNet cash used in financing activities (40,906) (7,518)\nNet (decrease)/increase in cash and cash equivalents (1,270) 49,727",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_company_type",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nABOUT\nCHINA TELECOM\nChina Telecom Corporation Limited (“China Telecom” or the\n“Company”, a joint stock limited company incorporated in the\nPeople’s Republic of China with limited liability, together with\nits subsidiaries, collectively the “Group”) is a leading large-\nscale integrated intelligent information services operator in the\nworld whose principal business is the provision of fundamental\ntelecommunications businesses including wireline and mobile\ncommunications services, value-added telecommunications\nbusinesses such as Internet access services, information\nservices and other related businesses. As at the end of 2022,\nthe Company had mobile subscribers of about 391 million\nand wireline broadband subscribers of about 181 million. The\nCompany’s A Shares and H Shares are listed on the Shanghai\nStock Exchange and the Main Board of The Stock Exchange of\nHong Kong Limited, respectively.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_key_financials",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "RMB481.4bn operating revenues (increase of 9.5%), EBITDA RMB 130.4bn",
      "golden_context": "Page 16:\n\n1. OVERALL RESULTS\nIn 2022, the Company’s operating revenues amounted\nto RMB481.4 billion, representing an increase of 9.5%\nyear-on-year. Service revenues2 amounted to RMB434.9\nbillion, representing an increase of 8.0% year-on-\nyear. Excluding the revenue impact from the disposals\nof its subsidiaries in 20213, the year-on-year growth\nrate reached 8.1%. EBITDA4 amounted to RMB130.4\nbillion, representing an increase of 5.2% year-on-year.\nNet profit5 amounted to RMB27.6 billion, representing\nan increase of 6.3% year-on-year. Excluding the one-\noff after-tax gain from the disposals of its subsidiaries\nin 20216, the year-on-year growth rate reached 12.5%.\nThe basic earnings per share were RMB0.30. Capital\nexpenditure was RMB92.5 billion and free cash flow7\nreached RMB13.2 billion.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and\ncash flow generation capabilities, while effectively\ncontrolling capital expenditure. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2022\nof RMB0.076 per share (pre-tax) shall be declared.\nTogether with the 2022 interim dividend of RMB0.120\nper share (pre-tax) which has been distributed, the full\nyear dividend of 2022 amounts to RMB0.196 per share\n(pre-tax), and the aggregate amount of the full year\ndividend represents 65% of the profit attributable to\nequity holders of the Company for the year. Within the\nthree years following the Company’s A Share Offering\nand Listing, the profit to be distributed in cash for each\nyear will gradually increase to 70% or above of the\nprofit attributable to equity holders of the Company\nfor that year, continuously creating more value to all\nshareholders.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_revenue",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "RMB481.4bn operating revenues",
      "golden_context": "Page 16:\n\n1. OVERALL RESULTS\nIn 2022, the Company’s operating revenues amounted\nto RMB481.4 billion, representing an increase of 9.5%\nyear-on-year. Service revenues2 amounted to RMB434.9\nbillion, representing an increase of 8.0% year-on-\nyear. Excluding the revenue impact from the disposals\nof its subsidiaries in 20213, the year-on-year growth\nrate reached 8.1%. EBITDA4 amounted to RMB130.4\nbillion, representing an increase of 5.2% year-on-year.\nNet profit5 amounted to RMB27.6 billion, representing\nan increase of 6.3% year-on-year. Excluding the one-\noff after-tax gain from the disposals of its subsidiaries\nin 20216, the year-on-year growth rate reached 12.5%.\nThe basic earnings per share were RMB0.30. Capital\nexpenditure was RMB92.5 billion and free cash flow7\nreached RMB13.2 billion.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and\ncash flow generation capabilities, while effectively\ncontrolling capital expenditure. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2022\nof RMB0.076 per share (pre-tax) shall be declared.\nTogether with the 2022 interim dividend of RMB0.120\nper share (pre-tax) which has been distributed, the full\nyear dividend of 2022 amounts to RMB0.196 per share\n(pre-tax), and the aggregate amount of the full year\ndividend represents 65% of the profit attributable to\nequity holders of the Company for the year. Within the\nthree years following the Company’s A Share Offering\nand Listing, the profit to be distributed in cash for each\nyear will gradually increase to 70% or above of the\nprofit attributable to equity holders of the Company\nfor that year, continuously creating more value to all\nshareholders.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_revenue_growth",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "RMB481.4bn operating revenues (increase of 9.5%)",
      "golden_context": "Page 16:\n\n1. OVERALL RESULTS\nIn 2022, the Company’s operating revenues amounted\nto RMB481.4 billion, representing an increase of 9.5%\nyear-on-year. Service revenues2 amounted to RMB434.9\nbillion, representing an increase of 8.0% year-on-\nyear. Excluding the revenue impact from the disposals\nof its subsidiaries in 20213, the year-on-year growth\nrate reached 8.1%. EBITDA4 amounted to RMB130.4\nbillion, representing an increase of 5.2% year-on-year.\nNet profit5 amounted to RMB27.6 billion, representing\nan increase of 6.3% year-on-year. Excluding the one-\noff after-tax gain from the disposals of its subsidiaries\nin 20216, the year-on-year growth rate reached 12.5%.\nThe basic earnings per share were RMB0.30. Capital\nexpenditure was RMB92.5 billion and free cash flow7\nreached RMB13.2 billion.\nThe Company attaches great importance to shareholder\nreturns and strives to enhance its profitability and\ncash flow generation capabilities, while effectively\ncontrolling capital expenditure. Taking the Company’s\nprofitability into full consideration, alongside cash flow\nlevels and capital needs for its future development, the\nBoard of Directors has decided to recommend at the\nAnnual General Meeting that a final dividend of 2022\nof RMB0.076 per share (pre-tax) shall be declared.\nTogether with the 2022 interim dividend of RMB0.120\nper share (pre-tax) which has been distributed, the full\nyear dividend of 2022 amounts to RMB0.196 per share\n(pre-tax), and the aggregate amount of the full year\ndividend represents 65% of the profit attributable to\nequity holders of the Company for the year. Within the\nthree years following the Company’s A Share Offering\nand Listing, the profit to be distributed in cash for each\nyear will gradually increase to 70% or above of the\nprofit attributable to equity holders of the Company\nfor that year, continuously creating more value to all\nshareholders.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000413_segments",
      "report_id": "ID_000413",
      "company_name": "China Telecom Corporation Limited",
      "year": 2022,
      "country": "CN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "For the years presented, management has determined that the\nGroup has one operating segment as the Group is only engaged in the integrated telecommunications\nbusiness.",
      "golden_context": "Page 215:\n\nSIGNIFICANT ACCOUNTING POLICIES (continued)\n(w) Related parties\n(a) A person, or a close member of that person’s family, is related to the Group if that person:\n(i) has control or joint control over the Group;\n(ii) has significant influence over the Group; or\n(iii) is a member of the key management personnel of the Group or the Group’s parent.\n(b) An entity is related to the Group if any of the following conditions applies:\n(i) The entity and the Group are members of the same group (which means that each\nparent, subsidiary and fellow subsidiary is related to the others);\n(ii) The entity is an associate or joint venture of the Group (or an associate or joint venture\nof a member of a group of which the Group is a member); or the Group is an associate\nor joint venture of the entity (or an associate or joint venture of a member of a group of\nwhich the entity is a member);\n(iii) The entity and the Group are joint ventures of the same third party;\n(iv) The entity is a joint venture of a third entity and the Group is an associate of the third\nentity; or the Group is a joint venture of a third entity and the entity is an associate of the\nthird entity;\n(v) The entity is controlled or jointly controlled by a person identified in (a);\n(vi) A person identified in (a)(i) has significant influence over the entity or is a member of the\nkey management personnel of the entity (or of a parent of the entity).\nClose members of the family of a person are those family members who may be expected to influence,\nor be influenced by, that person in their dealings with the entity.\n(x) Segment reporting\nAn operating segment is a component of an entity that engages in business activities from which\nrevenues are earned and expenses are incurred, and is identified on the basis of the internal financial\nreports that are regularly reviewed by the chief operating decision maker in order to allocate resources\nand assess performance of the segment. For the years presented, management has determined that the\nGroup has one operating segment as the Group is only engaged in the integrated telecommunications\nbusiness. The Group’s assets located outside mainland China and operating revenues derived from\nactivities outside mainland China are less than 10% of the Group’s assets and operating revenues,\nrespectively. No geographical area information has been presented as such amount is immaterial. No\nsingle external customer accounts for 10% or more of the Group’s operating revenues.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_cash_flow",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -34228m, investing: 234002m, financing: 29636m",
      "golden_context": "Page 51:\n\nItem 2020 2019\nCash flow from operating activities (34,228) (588,009)\nCash flow from investing activities 234,002 602,337\nCash flow from financing activities 29,636 166,667\n(IV) Analysis of the cash flow statement\nUnit: RMB million\nDuring the reporting period, the net cash outflow from operating activities was RMB34.228 billion, representing a\ndecrease of RMB553.781 billion as compared with last year, mainly due to a year-on-year increase in interbank fund\nand incremental borrowing from Central Bank.\nNet cash inflow from investing activities was RMB234.002 billion, representing a decrease of RMB368.335 billion as\ncompared with previous year, mainly due to a year-on-year increase in the increment of investment business.\nNet cash inflow from financing activities was RMB29.636 billion, representing a decrease of RMB137.031 billion as\ncompared with previous year, mainly due to the year-on-year decrease in interbank deposit business.\n(V) Analysis of loan quality\n1. Five-category loan classification\nUnit: RMB million\nItem\nDecember 31, 2020 December 31, 2019\nBalance Percentage (%) Balance Percentage (%)\nIncrease/ decrease\nin balance at\nthe end of the\nreporting period\ncompared with\nthat at the end of\nlast year (%)\nNormal 3,861,611 97.38 3,327,066 96.68 16.07\nSpecial mention 54,407 1.37 61,363 1.78 (11.34)\nSubstandard 27,827 0.70 19,741 0.57 40.96\nDoubtful 16,015 0.40 21,209 0.62 (24.49)\nLoss 5,814 0.15 12,072 0.35 (51.84)\nTotal 3,965,674 100 3,441,451 100 15.23",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_company_type",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "LTD",
      "golden_context": "Page 10:\n\nCorporate Profile and Key Financial Indicators\nI. Corporate profile\nLegal Chinese name: 兴业银行股份有限公司\n(Abbreviation: 兴业银行 )\nLegal English name: INDUSTRIAL BANK CO., LTD.\nLegal representative: Tao Yiping (performing the duties of the legal representative)\nSecretary of the Board of Directors: Chen Xinjian\nRepresentative of securities affairs: Li Dapeng\nAddress: 154 Hudong Road, Fuzhou, PRC\nTel: (86) 591-87824863\nFax: (86) 591-87842633\nEmail: irm@cib.com.cn\nRegistered address: 154 Hudong Road, Fuzhou, PRC\nAddress: 154 Hudong Road, Fuzhou, PRC\nPostal Code: 350003\nWebsite: www.cib.com.cn\nDesignated newspapers for information disclosure: China Securities Journal,\nShanghai Securities News, Securities Times, Securities Daily\nWebsite designated by CSRC for publishing annual reports: www.sse.com.cn\nLocation of annual reports filing: the Company's office of the Board of Directors",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_key_financials",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating income: 203137m, basic EPS: 3.08, cash flows from operating activities: -34228m",
      "golden_context": "Page 12:\n\nII. Key accounting data and financial indicators for last three years\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem 2020 2019 Increase/decrease in 2020\ncompared with 2019 (%) 2018\nOperating income 203,137 181,308 12.04 158,287\nProfit before tax 76,637 74,503 2.86 68,077\nNet profit attributable to the shareholders\nof the parent company 66,626 65,868 1.15 60,620\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n66,218 65,458 1.16 60,048\nBasic EPS (Yuan) 3.08 3.10 (0.65) 2.85\nDiluted EPS (Yuan) 3.08 3.10 (0.65) 2.85\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.06 3.08 (0.65) 2.82\nROA (%) 0.90 0.96 Down 0.06 percentage\npoint 0.93\nWeighted average ROE (%) 12.62 14.02 Down 1.40 percentage\npoints 14.27\nWeighted average ROE, after deduction\nof non-recurring gains and losses (%) 12.54 13.93 Down 1.39 percentage\npoints 14.13\nCost-to-income ratio (%) 24.16 26.03 Down 1.87 percentage\npoints 26.89\nCash flows from operating activities (34,228) (588,009) Negative in the same\nperiod of last year (356,099)\nNet cash flow per share from operating\nactivities (Yuan) (1.65) (28.31) Negative in the same\nperiod of last year (17.14)\nItem December\n31, 2020\nDecember\n31, 2019\nIncrease/decrease in the\nend 2020 compared with\nthe end of 2019 (%)\nDecember 31,\n2018\nTotal assets 7,894,000 7,145,681 10.47 6,711,657\nShareholders' equity attributable to the\nshareholders of the parent company 615,586 541,360 13.71 465,953\nOwners' equity attributable to the\nordinary shareholders of the parent\ncompany\n529,784 485,518 9.12 440,048\nNet assets per share attributable to the\nordinary shareholders of the parent\ncompany (Yuan)\n25.50 23.37 9.12 21.18\nNPL ratio (%) 1.25 1.54 Down 0.29 percentage\npoint 1.57\nProvision coverage ratio (%) 218.83 199.13 Up 19.70 percentage points 207.28\nProvision-to-loan ratio (%) 2.74 3.07 Down 0.33 percentage point 3.26",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_revenue",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "operating income: 203137m. As this is a bank, they do not explicitly report a unified \"revenue\" figure.",
      "golden_context": "Page 21:\n\neded 37 million, up 18.19% compared with the end of the previous year, and the\nregistered users of credit card \"Hao Xing Dong\" APP reached 21.01 million, up 66.06% compared with the end of the\nprevious year, and the conversion rate of users was continuously improved.\n2. The investment banking ecosystem was centered on the expansion of high-yield assets and the\nconstruction of a light capital model to deeply grasp the opportunities of capital market dividends. The\nCompany insisted on positioning itself as an integrator of resources in the whole market. Centering on the\ncustomers' needs for investment, financing, trading and hedging, the Company integrated various business units\nwithin the group to build an investment banking \"brothers in arms\", and united with public equity, brokerage,\ninsurance, trust, private equity, government investment funds and other institutions externally to build an\ninvestment banking \"circle of partners\", made comprehensive use of multiple investment and financing tools such\nas mergers and acquisitions, syndicated loans, bond issuance and equity investment, provided a broader range\nof capital market services to meet the full range of financial needs of customers and customers' customers and\nhelp to enhance corporate value. During the reporting period, the Company achieved revenue of RMB4.022 billion\nthrough various investment banking services (including bond underwriting, credit asset flow, financial advisory and\nconsulting, syndicated loans, entrusted loans and asset securitization, etc.), representing a year-on-year increase of\n66.60% and achieved revenue of RMB 3.560 billion from agency FICC business, representing a year-on-year increase\nof 35.00%.\nDuring the reporting period, the Company further extended its traditional business advantages in investment\nbanking and vigorously developed new businesses with the amount of customers from the non-real estate industry\nserved through various non-traditional financing instruments accounting for over 90% of the total. Among them,\nthe underwriting scale of non-financial corporate debt financing instruments was RMB654.555 billion (ranked first\nin the whole market), up 25.64% year-on-year; financial debt underwriting was RMB62.324 billion, up 206.79% year-\non-year; M&A financing placement was RMB71.277 billion, up 91.12% year-on-year; the balance of syndicated loans\nwas RMB111.85 billion, up 45.22% compared with the end of the previous year. Steady progress was made in equity\ninvestment and item earnings entered harvest period. The Company continuously expanded the circle of external\npartners, made full use of investment banking resources in the market, grasped market information at the first time,\nand attracted high-quality customers and high-quality assets. For example, it cooperated with top international\nPE institutions to jointly serve the privatization of advanced Internet platform companies, which not only achieved\nvarious innovative breakthroughs in investment banking business, but also brought broad space for commercial\nbanking services, and laid a good foundation to continue to cooperate with top institutions to participate in large-\nscale cross-border M&A in the future. The Company built the \"Xing Cai Zi\" platform to open up the whole product\nchain of \"stock, debt, loan and turnover\", cooperated with more than 150 financial institutions and transferred\nassets with a scale of RMB224.964 billion, up 49.25% year-on-year; provided high-quality assets to wealth\nmanagement, provided guarantee for increasing product yields. The Company continued to consolidate market-\nmaking capabilities and maintain the ranking as a leading market maker in bond, exchange rate and interest rate\nand take the demand for corporate exchange rate and interest rate hedging as an opportunity to promote the rapid\ngrowth of agency FICC business.\nAs at the end of the reporting period, the Group's total corporate financing (FPA) balance was RMB6.06 trillion, up\nRMB672.045 billion or 12.47% from the end ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_revenue_growth",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "operating income: 203137m, prior year: 181308m. As this is a bank, they do not explicitly report a unified \"revenue\" figure.",
      "golden_context": "Page 21:\n\neded 37 million, up 18.19% compared with the end of the previous year, and the\nregistered users of credit card \"Hao Xing Dong\" APP reached 21.01 million, up 66.06% compared with the end of the\nprevious year, and the conversion rate of users was continuously improved.\n2. The investment banking ecosystem was centered on the expansion of high-yield assets and the\nconstruction of a light capital model to deeply grasp the opportunities of capital market dividends. The\nCompany insisted on positioning itself as an integrator of resources in the whole market. Centering on the\ncustomers' needs for investment, financing, trading and hedging, the Company integrated various business units\nwithin the group to build an investment banking \"brothers in arms\", and united with public equity, brokerage,\ninsurance, trust, private equity, government investment funds and other institutions externally to build an\ninvestment banking \"circle of partners\", made comprehensive use of multiple investment and financing tools such\nas mergers and acquisitions, syndicated loans, bond issuance and equity investment, provided a broader range\nof capital market services to meet the full range of financial needs of customers and customers' customers and\nhelp to enhance corporate value. During the reporting period, the Company achieved revenue of RMB4.022 billion\nthrough various investment banking services (including bond underwriting, credit asset flow, financial advisory and\nconsulting, syndicated loans, entrusted loans and asset securitization, etc.), representing a year-on-year increase of\n66.60% and achieved revenue of RMB 3.560 billion from agency FICC business, representing a year-on-year increase\nof 35.00%.\nDuring the reporting period, the Company further extended its traditional business advantages in investment\nbanking and vigorously developed new businesses with the amount of customers from the non-real estate industry\nserved through various non-traditional financing instruments accounting for over 90% of the total. Among them,\nthe underwriting scale of non-financial corporate debt financing instruments was RMB654.555 billion (ranked first\nin the whole market), up 25.64% year-on-year; financial debt underwriting was RMB62.324 billion, up 206.79% year-\non-year; M&A financing placement was RMB71.277 billion, up 91.12% year-on-year; the balance of syndicated loans\nwas RMB111.85 billion, up 45.22% compared with the end of the previous year. Steady progress was made in equity\ninvestment and item earnings entered harvest period. The Company continuously expanded the circle of external\npartners, made full use of investment banking resources in the market, grasped market information at the first time,\nand attracted high-quality customers and high-quality assets. For example, it cooperated with top international\nPE institutions to jointly serve the privatization of advanced Internet platform companies, which not only achieved\nvarious innovative breakthroughs in investment banking business, but also brought broad space for commercial\nbanking services, and laid a good foundation to continue to cooperate with top institutions to participate in large-\nscale cross-border M&A in the future. The Company built the \"Xing Cai Zi\" platform to open up the whole product\nchain of \"stock, debt, loan and turnover\", cooperated with more than 150 financial institutions and transferred\nassets with a scale of RMB224.964 billion, up 49.25% year-on-year; provided high-quality assets to wealth\nmanagement, provided guarantee for increasing product yields. The Company continued to consolidate market-\nmaking capabilities and maintain the ranking as a leading market maker in bond, exchange rate and interest rate\nand take the demand for corporate exchange rate and interest rate hedging as an opportunity to promote the rapid\ngrowth of agency FICC business.\nAs at the end of the reporting period, the Group's total corporate financing (FPA) balance was RMB6.06 trillion, up\nRMB672.045 billion or 12.47% from the end ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000414_segments",
      "report_id": "ID_000414",
      "company_name": "Industrial Bank Co LTD",
      "year": 2020,
      "country": "CN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "The Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central region,\na total of ten segments, of which branches within the northeast and other regions, western region, central region are\npresented in a consolidated manner.",
      "golden_context": "Page 230:\n\nVIII. Segment reporting\nSenior management of the Group evaluates the operations of the Group in accordance with their economic areas of\nthe respective branches and subsidiaries. Each branch serves its local customers and few customers in other regions.\nThe Group does not deeply depend on one single external customer. Through the review of internal reports, the\nmanagement of the Group conducts performance evaluation and determines the allocation of resources. Segment\nreporting is presented in a manner consistent with the Group's internal management and reports.\nSegment accounting policies are consistent with the accounting policies of the consolidated financial statements.\nInter-segment transfer transactions are measured at the actual transaction prices.\nThe Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central region,\na total of ten segments, of which branches within the northeast and other regions, western region, central region are\npresented in a consolidated manner.\nAmong them, the northeast and other regions includes: Harbin branch, Changchun branch, Shenyang branch, Dalian\nbranch, Tianjin branch, Jinan branch, Qingdao branch, Haikou branch, Hong Kong branch and Industrial Bank\nFinancial Leasing Co., Ltd.;\nWestern region includes: Chengdu branch, Chongqing branch, Guiyang branch, Xi'an branch, Kunming branch,\nNanning branch, Urumqi branch, Lanzhou branch, Yinchuan branch, Xining branch and Lasa branch;\nCentral region includes: Hohhot branch, Shijiazhuang branch, Zhengzhou branch, Taiyuan branch, Hefei branch,\nChangsha branch, Wuhan branch and Nanchang branch.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_cash_flow",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -389771m, investing: 79654m, financing: 124588m",
      "golden_context": "Page 58:\n\nItem Unit: RMB million\n2021 2020\nCash flow from operating activities (389,771) (34,228)\nCash flow from investing activities 79,654 234,002\nCash flow from financing activities 124,588 29,636\n(IV) Analysis of the cash flow statement\nDuring the reporting period, the net cash outflow from operating activities was RMB389.771 billion, representing an\nincrease of RMB355.543 billion as compared with last year, mainly due to a year-on-year decrease in borrowing from\nCentral Bank and adjustment and optimization of business structure of trading financial assets.\nNet cash inflow from investing activities was RMB79.654 billion, representing a decrease of RMB154.348 billion as\ncompared with previous year, mainly due to a year-on-year increase in the increment of investment business.\nNet cash inflow from financing activities was RMB124.588 billion, representing an increase of RMB94.952 billion as\ncompared with previous year, mainly due to the year-on-year increase in interbank deposit business.\n(V) Analysis of loan quality\n1. Five-category loan classification\nUnit: RMB million\nItem December 31, 2021 December 31, 2020 Increase/ decrease in\nBalance Percentage (%) Balance Percentage (%)\nbalance at the end of\nthe reporting period\ncompared with that at\nthe end of last year (%)\nNormal 4,312,002 97.38 3,861,611 97.38 11.66\nSpecial mention 67,467 1.52 54,407 1.37 24.00\nSubstandard 23,461 0.53 27,827 0.70 (15.69)\nDoubtful 15,421 0.35 16,015 0.40 (3.71)\nLoss 9,832 0.22 5,814 0.15 69.11\nTotal 4,428,183 100 3,965,674 100 11.66\nAs at the end of the reporting period, the balance of the Company's NPLs stood at RMB48.714 billion, down RMB942\nmillion from the figure at the end of the year with NPL ratio of 1.10%, down 0.15 percentage point from the end of\nlast year. The balance of special mention loans was RMB67.467 billion, up RMB13.060 billion from the end of last\nyear. The proportion of the special mention loans in the total loans was 1.52%, up 0.15 percentage point from the\nend of last year. During the reporting period, credit risks in certain regions and industries continuously became\nexposed due to deleveraging in macro economy and ongoing adjustment in industrial structure. The Company\nstrengthened control of asset quality and established an asset quality control system for potential risky assets, and\nrisks were disposed of in a forward-looking manner, therefore, the balance of non-performing loan and NPL ratio\ndeclined compared with the end of last year, and asset quality remained stable.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_company_type",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "LTD",
      "golden_context": "Page 12:\n\nCorporate Profile and Key Financial Indicators\nI. Corporate profile\nLegal Chinese name: 兴业银行股份有限公司\n(Abbreviation: 兴业银行 )\nLegal English name: INDUSTRIAL BANK CO., LTD.\nII. Legal representative: Lyu Jiajin\nIII. Contact persons and details\nSecretary of the Board of Directors: Chen Xinjian\nRepresentative of securities affairs: Li Dapeng\nAddress: Industrial Bank Building, 398 Jiangbin Middle Avenue, Taijiang District, Fuzhou City, Fujian Province\nTel: (86)591-87824863\nFax: (86)591-87842633\nEmail: irm@cib.com.cn\nIV. Basic information\nRegistered address: Industrial Bank Building, 398 Jiangbin Middle Avenue, Taijiang District, Fuzhou City, Fujian\nProvince\nHistory changes in registered address of the Company:\nTaijiang District, Fuzhou City, Fujian Province\nOffice address: Industrial Bank Building, 398 Jiangbin Middle Avenue, Taijiang District, Fuzhou City, Fujian Province\nPostal Code: 350014\nWebsite: www.cib.com.cn",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_key_financials",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating income: 221236m, basic EPS: 3.77, cash flows from operating activities: -389771m",
      "golden_context": "Page 14:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem 2021 2020 Increase/decrease in 2021\ncompared with 2020 (%) 2019\nOperating income 221,236 203,137 8.91 181,308\nProfit before tax 95,310 76,637 24.37 74,503\nNet profit attributable to the shareholders\nof the parent company 82,680 66,626 24.10 65,868\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n82,206 66,218 24.14 65,458\nBasic EPS (Yuan) 3.77 3.08 22.40 3.10\nDiluted EPS (Yuan) 3.77 3.08 22.40 3.10\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.75 3.06 22.55 3.08\nROA (%) 1.02 0.90 Up 0.12 percentage point 0.96\nWeighted average ROE (%) 13.94 12.62 Up 1.32 percentage points 14.02\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 13.86 12.54 Up 1.32 percentage points 13.93\nCost-to-income ratio (%) 25.68 24.16 Up 1.52 percentage points 26.03\nCash flows from operating activities (389,771) (34,228) Negative in the same period\nof last year (588,009)\nNet cash flow per share from operating\nactivities (Yuan) (18.76) (1.65) Negative in the same period\nof last year (28.31)\nItem December\n31, 2021\nDecember\n31, 2020\nIncrease/decrease in the end\n2021 compared with the end\nof 2020 (%)\nDecember\n31, 2019\nTotal assets 8,603,024 7,894,000 8.98 7,145,681\nShareholders' equity attributable to the\nshareholders of the parent company 684,111 615,586 11.13 541,360\nOwners' equity attributable to the ordinary\nshareholders of the parent company 598,309 529,784 12.93 485,518\nNet assets per share attributable to the\nordinar y shareholders of the parent\ncompany (Yuan)\n28.80 25.50 12.93 23.37\nNPL ratio (%) 1.10 1.25 Down 0.15 percentage point 1.54\nProvision coverage ratio (%) 268.73 218.83 Up 49.90 percentage points 199.13\nProvision-to-loan ratio (%) 2.96 2.74 Up 0.22 percentage point 3.07\nNotes: 1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclosure by Companies\nOffering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net Assets and Earnings Per Share (2010\nRevision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial\nP1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the preferred shares for 2021 will be\ndistributed after approval by the general shareholders' meeting",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_revenue",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "221236m",
      "golden_context": "Page 14:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem 2021 2020 Increase/decrease in 2021\ncompared with 2020 (%) 2019\nOperating income 221,236 203,137 8.91 181,308\nProfit before tax 95,310 76,637 24.37 74,503\nNet profit attributable to the shareholders\nof the parent company 82,680 66,626 24.10 65,868\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n82,206 66,218 24.14 65,458\nBasic EPS (Yuan) 3.77 3.08 22.40 3.10\nDiluted EPS (Yuan) 3.77 3.08 22.40 3.10\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.75 3.06 22.55 3.08\nROA (%) 1.02 0.90 Up 0.12 percentage point 0.96\nWeighted average ROE (%) 13.94 12.62 Up 1.32 percentage points 14.02\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 13.86 12.54 Up 1.32 percentage points 13.93\nCost-to-income ratio (%) 25.68 24.16 Up 1.52 percentage points 26.03\nCash flows from operating activities (389,771) (34,228) Negative in the same period\nof last year (588,009)\nNet cash flow per share from operating\nactivities (Yuan) (18.76) (1.65) Negative in the same period\nof last year (28.31)\nItem December\n31, 2021\nDecember\n31, 2020\nIncrease/decrease in the end\n2021 compared with the end\nof 2020 (%)\nDecember\n31, 2019\nTotal assets 8,603,024 7,894,000 8.98 7,145,681\nShareholders' equity attributable to the\nshareholders of the parent company 684,111 615,586 11.13 541,360\nOwners' equity attributable to the ordinary\nshareholders of the parent company 598,309 529,784 12.93 485,518\nNet assets per share attributable to the\nordinar y shareholders of the parent\ncompany (Yuan)\n28.80 25.50 12.93 23.37\nNPL ratio (%) 1.10 1.25 Down 0.15 percentage point 1.54\nProvision coverage ratio (%) 268.73 218.83 Up 49.90 percentage points 199.13\nProvision-to-loan ratio (%) 2.96 2.74 Up 0.22 percentage point 3.07\nNotes: 1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclosure by Companies\nOffering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net Assets and Earnings Per Share (2010\nRevision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial\nP1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the preferred shares for 2021 will be\ndistributed after approval by the general shareholders' meeting",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_revenue_growth",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "221236m, prior year: 203137m",
      "golden_context": "Page 14:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem 2021 2020 Increase/decrease in 2021\ncompared with 2020 (%) 2019\nOperating income 221,236 203,137 8.91 181,308\nProfit before tax 95,310 76,637 24.37 74,503\nNet profit attributable to the shareholders\nof the parent company 82,680 66,626 24.10 65,868\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n82,206 66,218 24.14 65,458\nBasic EPS (Yuan) 3.77 3.08 22.40 3.10\nDiluted EPS (Yuan) 3.77 3.08 22.40 3.10\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.75 3.06 22.55 3.08\nROA (%) 1.02 0.90 Up 0.12 percentage point 0.96\nWeighted average ROE (%) 13.94 12.62 Up 1.32 percentage points 14.02\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 13.86 12.54 Up 1.32 percentage points 13.93\nCost-to-income ratio (%) 25.68 24.16 Up 1.52 percentage points 26.03\nCash flows from operating activities (389,771) (34,228) Negative in the same period\nof last year (588,009)\nNet cash flow per share from operating\nactivities (Yuan) (18.76) (1.65) Negative in the same period\nof last year (28.31)\nItem December\n31, 2021\nDecember\n31, 2020\nIncrease/decrease in the end\n2021 compared with the end\nof 2020 (%)\nDecember\n31, 2019\nTotal assets 8,603,024 7,894,000 8.98 7,145,681\nShareholders' equity attributable to the\nshareholders of the parent company 684,111 615,586 11.13 541,360\nOwners' equity attributable to the ordinary\nshareholders of the parent company 598,309 529,784 12.93 485,518\nNet assets per share attributable to the\nordinar y shareholders of the parent\ncompany (Yuan)\n28.80 25.50 12.93 23.37\nNPL ratio (%) 1.10 1.25 Down 0.15 percentage point 1.54\nProvision coverage ratio (%) 268.73 218.83 Up 49.90 percentage points 199.13\nProvision-to-loan ratio (%) 2.96 2.74 Up 0.22 percentage point 3.07\nNotes: 1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclosure by Companies\nOffering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net Assets and Earnings Per Share (2010\nRevision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial\nP1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the preferred shares for 2021 will be\ndistributed after approval by the general shareholders' meeting",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000415_segments",
      "report_id": "ID_000415",
      "company_name": "Industrial Bank Co LTD",
      "year": 2021,
      "country": "CN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "The Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central\nregion, a total of ten segments, of which branches within the northeast and other regions, western region, central\nregion are presented in a consolidated manner.",
      "golden_context": "Page 258:\n\nVIII. Segment reporting\nSenior management of the Group evaluates the operations of the Group in accordance with their economic areas\nof the respective branches and subsidiaries. Each branch serves its local customers and few customers in other\nregions. The Group does not deeply depend on one single external customer. Through the review of internal reports,\nthe management of the Group conducts performance evaluation and determines the allocation of resources.\nSegment reporting is presented in a manner consistent with the Group's internal management and reports.\nSegment accounting policies are consistent with the accounting policies of the consolidated financial statements.\nInter-segment transfer transactions are measured at the actual transaction prices.\nThe Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central\nregion, a total of ten segments, of which branches within the northeast and other regions, western region, central\nregion are presented in a consolidated manner.\nAmong them, the northeast and other regions includes: Harbin branch, Changchun branch, Shenyang branch,\nDalian branch, Tianjin branch, Jinan branch, Qingdao branch, Haikou branch, Hong Kong branch and Industrial\nBank Financial Leasing Co., Ltd.;\nWestern region includes: Chengdu branch, Chongqing branch, Guiyang branch, Xi'an branch, Kunming branch,\nNanning branch, Urumqi branch, Lanzhou branch, Yinchuan branch, Xining branch and Lasa branch;\nCentral region includes: Hohhot branch, Shijiazhuang branch, Zhengzhou branch, Taiyuan branch, Hefei branch,\nChangsha branch, Wuhan branch and Nanchang branch.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_cash_flow",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -344587m, investing: -2059m, financing: -22248m",
      "golden_context": "Page 58:\n\ntem\n2022 2021\nCash flow from operating activities\n(344,587)\n(389,771)\nCash flow from investing activities\n(2,059)\n79,654\nCash flow from financing activities\n(22,248)\n124,588",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_company_type",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 17:\n\nDefinition\nIn this report, unless the context otherwise specified, the following terms have the meanings set forth below:\nIndustrial Bank/the Company\nGroup/the Group\nIndustrial Bank Co., Ltd.\nIndustrial Bank Co., Ltd. and its subsidiaries\nCentral Bank/PBOC\nThe People's Bank of China\nCSRC\nChina Securities Regulatory Commission\nCBIRC\nChina Banking and Insurance Regulatory Commission\nKPMG Huazhen\nKPMG Huazhen LLP\nIndustrial Financial Leasing\nIndustrial Bank Financial Leasing Co., Ltd.\nIndustrial Trust\nChina Industrial International Trust Limited\nIndustrial Fund\nCIB Fund Management Co., Ltd.\nIndustrial Consumer Finance\nIndustrial Consumer Finance Co., Ltd.\nCIB Wealth Management\nCIB Wealth Management Co., Ltd.\nIndustrial Futures\nIndustrial Futures Co., Ltd.\nCIB Research\nCIB Economic Research and Consulting Co., Ltd.\nCIB FINTECH\nCIB FINTECH (Shanghai) Co., Ltd.\nIndustrial Asset Management\nChina Industrial Asset Management Co., Ltd.\nIndustrial Inclusive Technology\nIndustrial Inclusive Technology (Fujian) Co., Ltd.\nCiit Asset Management\nChina Industrial International Trust Asset Management Company Limited\nYuan\nRMB Yuan\n1. Light assets, light capital and high efficiency are the main lines of development.\n“1234” strategy system\n2. Take the strategy of “commercial bank + investment bank” as the starting point,\nand adhere to the development philosophy of “customers as the foundation,\ncommercial banking as the carrier, and investment banking as the functional\narm”.\n3. Continuously improve the capacity building of settlement banks, investment banks\nand transaction banks.\nCommercial bank +\ninvestment bank 2.0\n4. Strengthen the strategic roles of key branches, key industries, key customers and\nkey products.\nThe deepening and expansion of the strategy of “commercial bank + investment\nbank” includes the improvement of product system, coordination mechanism, risk\nmodel and evaluation mechanism.\nThree business cards\ngreen bank, wealth bank and investment bank\n“Four stabilities and four\nprogressives” strategy\nAdhere to the steady growth of sca",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_key_financials",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating income: 222374m, profit before tax: 106221, basic EPS: 4.2, net cash flow from operating activities: -344587m",
      "golden_context": "Page 20:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem\n2022 2021\nIncrease/decrease in\n2022 compared with\n2021 (%)\n2020\nOperating income\n222,374\n221,236\n0.51\n203,137\nProfit before tax\n106,221\n95,310\n11.45\n76,637\nNet profit attributable to the shareholders\nof the parent company\n91,377\n82,680\n10.52\n66,626\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n90,996\n82,206\n10.69\n66,218\nBasic EPS (Yuan)\n4.20\n3.77\n11.41\n3.08\nDiluted EPS (Yuan)\n3.87\n3.77\n2.65\n3.08\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan)\n4.18\n3.75\n11.47\n3.06\nROA (%)\n1.03\n1.02\nUp 0.01 percentage point\n0.90\nWeighted average ROE (%)\n13.85\n13.94\nDown 0.09 percentage point\n12.62\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%)\n13.79\n13.86\nDown 0.07 percentage point\n12.54\nCost-to-income ratio (%)\n29.37\n25.68\nUp 3.69 percentage points\n24.16\nNet cash flow from operating activities\n(344,587)\n(389,771)\nNegative in the same period\nof last year\n(34,228)\nNet cash flow per share from operating\nactivities (Yuan)\n(16.59)\n(18.76)\nNegative in the same period\nof last year\n(1.65)\nItem\nDecember\n31, 2022\nDecember\n31, 2021\nIncrease/decrease in the end\n2022 compared with the end\nof 2021\nDecember\n31, 2020\nTotal assets\n9,266,671\n8,603,024\n7.71\n7,894,000\nShareholders' equity attributable to the\nshareholders of the parent company\n746,187\n684,111\n9.07\n615,586\nOwners' equity attributable to the ordinary\nshareholders of the parent company\n660,385\n598,309\n10.38\n529,784\nNet assets per share attributable to the\nordinary shareholders of the parent\ncompany (Yuan)\n31.79\n28.80\n10.38\n25.50\nNPL ratio (%)\n1.09\n1.10\nDown 0.01 percentage point\n1.25\nProvision coverage ratio (%)\n236.44\n268.73\nDown 32.29 percentage points\n218.83\nProvision-to-loan ratio (%)\n2.59\n2.96\nDown 0.37 percentage point\n2.74\nNotes:\n1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclo-\nsure by Companies Offering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net\nAssets and Earnings Per Share (2010 Revision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares\n(Industrial P1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the\npreferred shares for 2022 did not paid and will be distributed after approval by the general shareholders'\nmeetin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_revenue",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Operating income: 222374m",
      "golden_context": "Page 20:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem\n2022 2021\nIncrease/decrease in\n2022 compared with\n2021 (%)\n2020\nOperating income\n222,374\n221,236\n0.51\n203,137\nProfit before tax\n106,221\n95,310\n11.45\n76,637\nNet profit attributable to the shareholders\nof the parent company\n91,377\n82,680\n10.52\n66,626\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n90,996\n82,206\n10.69\n66,218\nBasic EPS (Yuan)\n4.20\n3.77\n11.41\n3.08\nDiluted EPS (Yuan)\n3.87\n3.77\n2.65\n3.08\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan)\n4.18\n3.75\n11.47\n3.06\nROA (%)\n1.03\n1.02\nUp 0.01 percentage point\n0.90\nWeighted average ROE (%)\n13.85\n13.94\nDown 0.09 percentage point\n12.62\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%)\n13.79\n13.86\nDown 0.07 percentage point\n12.54\nCost-to-income ratio (%)\n29.37\n25.68\nUp 3.69 percentage points\n24.16\nNet cash flow from operating activities\n(344,587)\n(389,771)\nNegative in the same period\nof last year\n(34,228)\nNet cash flow per share from operating\nactivities (Yuan)\n(16.59)\n(18.76)\nNegative in the same period\nof last year\n(1.65)\nItem\nDecember\n31, 2022\nDecember\n31, 2021\nIncrease/decrease in the end\n2022 compared with the end\nof 2021\nDecember\n31, 2020\nTotal assets\n9,266,671\n8,603,024\n7.71\n7,894,000\nShareholders' equity attributable to the\nshareholders of the parent company\n746,187\n684,111\n9.07\n615,586\nOwners' equity attributable to the ordinary\nshareholders of the parent company\n660,385\n598,309\n10.38\n529,784\nNet assets per share attributable to the\nordinary shareholders of the parent\ncompany (Yuan)\n31.79\n28.80\n10.38\n25.50\nNPL ratio (%)\n1.09\n1.10\nDown 0.01 percentage point\n1.25\nProvision coverage ratio (%)\n236.44\n268.73\nDown 32.29 percentage points\n218.83\nProvision-to-loan ratio (%)\n2.59\n2.96\nDown 0.37 percentage point\n2.74\nNotes:\n1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclo-\nsure by Companies Offering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net\nAssets and Earnings Per Share (2010 Revision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares\n(Industrial P1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the\npreferred shares for 2022 did not paid and will be distributed after approval by the general shareholders'\nmeetin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_revenue_growth",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Operating income: 222374m, prior year: 221236m",
      "golden_context": "Page 20:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nItem\n2022 2021\nIncrease/decrease in\n2022 compared with\n2021 (%)\n2020\nOperating income\n222,374\n221,236\n0.51\n203,137\nProfit before tax\n106,221\n95,310\n11.45\n76,637\nNet profit attributable to the shareholders\nof the parent company\n91,377\n82,680\n10.52\n66,626\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n90,996\n82,206\n10.69\n66,218\nBasic EPS (Yuan)\n4.20\n3.77\n11.41\n3.08\nDiluted EPS (Yuan)\n3.87\n3.77\n2.65\n3.08\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan)\n4.18\n3.75\n11.47\n3.06\nROA (%)\n1.03\n1.02\nUp 0.01 percentage point\n0.90\nWeighted average ROE (%)\n13.85\n13.94\nDown 0.09 percentage point\n12.62\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%)\n13.79\n13.86\nDown 0.07 percentage point\n12.54\nCost-to-income ratio (%)\n29.37\n25.68\nUp 3.69 percentage points\n24.16\nNet cash flow from operating activities\n(344,587)\n(389,771)\nNegative in the same period\nof last year\n(34,228)\nNet cash flow per share from operating\nactivities (Yuan)\n(16.59)\n(18.76)\nNegative in the same period\nof last year\n(1.65)\nItem\nDecember\n31, 2022\nDecember\n31, 2021\nIncrease/decrease in the end\n2022 compared with the end\nof 2021\nDecember\n31, 2020\nTotal assets\n9,266,671\n8,603,024\n7.71\n7,894,000\nShareholders' equity attributable to the\nshareholders of the parent company\n746,187\n684,111\n9.07\n615,586\nOwners' equity attributable to the ordinary\nshareholders of the parent company\n660,385\n598,309\n10.38\n529,784\nNet assets per share attributable to the\nordinary shareholders of the parent\ncompany (Yuan)\n31.79\n28.80\n10.38\n25.50\nNPL ratio (%)\n1.09\n1.10\nDown 0.01 percentage point\n1.25\nProvision coverage ratio (%)\n236.44\n268.73\nDown 32.29 percentage points\n218.83\nProvision-to-loan ratio (%)\n2.59\n2.96\nDown 0.37 percentage point\n2.74\nNotes:\n1. Basic EPS and weighted average ROE were calculated based on \"Preparation Rules for Information Disclo-\nsure by Companies Offering Securities to the Public No.9 ‒ Calculation and Disclosure of Return on Net\nAssets and Earnings Per Share (2010 Revision)\".\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares\n(Industrial P1, Industrial P2 and Industrial P3) with non-cumulative dividends. The dividends of the\npreferred shares for 2022 did not paid and will be distributed after approval by the general shareholders'\nmeetin",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000416_segments",
      "report_id": "ID_000416",
      "company_name": "Industrial Bank Co LTD",
      "year": 2022,
      "country": "CN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "The Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central\nregion, a total of ten segments, of which branches within the northeast and other regions, western region, central\nregion are presented in a consolidated manner.",
      "golden_context": "Page 258:\n\n at 31 December 2022, the commission income earned from offering management services to the investors of\nthese structured entities by the Group is RMB19,266 million (As at 31 December 2021: RMB14,263 million).\n45.3 Unconsolidated structured entities sponsored by the Group during the year in\nwhich the Group does not have an interest on 31 December 2022\nUnconsolidated structured entities sponsored by the Group after 1 January 2022 but matured before 31 December\n2022 in which the Group does not have an interest were mainly the non-principal-guaranteed wealth management\nproducts.\nThe aggregated amount of the non-principal-guaranteed wealth management products sponsored and issued by\nthe Group after 1 January 2022 but matured before 31 December 2022 was RMB26,987 million (The aggregated\namount of the non-principal-guaranteed wealth management products sponsored and issued by the Group after 1\nJanuary 2021 but matured before 31 December 2021 was RMB69,263 million). As at 31 December 2022, the amount\nof fee and commission income received from such category of non-principal-guaranteed wealth management\nproducts by the Group was RMB70 million (As at 31 December 2021: RMB197 million).\nVIII.Segment reporting\nSenior management of the Group evaluates the operations of the Group in accordance with the economic areas of\nthe respective branches and subsidiaries. Each branch serves its local customers and a few customers in other\nregions. The Group does not deeply depend on one single external customer. Through the review of internal reports,\nthe management of the Group conducts performance evaluations and determines the allocation of resources.\nSegment reporting is presented in a manner consistent with the Group'S internal management and reports.\nSegment accounting policies are consistent with the accounting policies of the consolidated financial statements.\nInter-segment transfer transactions are measured at the actual transaction prices.\nThe Group includes the head office (including the head office and the operating institutions of the head office ),\nFujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, northeast and other regions, western region, central\nregion, a total of ten segments, of which branches within the northeast and other regions, western region, central\nregion are presented in a consolidated manner.\nAmong them, the northeast and other regions include: Harbin branch, Changchun branch, Shenyang branch, Dalian\nbranch, Tianjin branch, Jinan branch, Qingdao branch, Haikou branch, Hong Kong branch and Industrial Bank\nFinancial Leasing Co., Ltd.;\nWestern region includes: Chengdu branch, Chongqing branch, Guiyang branch, Xi' an branch, Kunming branch,\nNanning branch, Urumqi branch, Lanzhou branch, Yinchuan branch, Xining branch and Lasa branch;\nCentral region includes: Hohhot branch, Shijiazhuang branch, Zhengzhou branch, Taiyuan branch, Hefei branch,\nChangsha branch, Wuhan branch and Nanchang branch.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_cash_flow",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 433617m, investing: -116901m, financing: -190955m",
      "golden_context": "Page 41:\n\nItem 2023 2022\nCash flow from operating activities 433,617 (344,587)\nCash flow from investing activities (116,901) (2,059)\nCash flow from financing activities (190,955) (22,248)\nDuring the reporting period, the net cash inflow from operating activities was RMB433.617 billion, as compared with net outflow of RMB344.587 billion for the same period\nof previous year, mainly due to net decrease in cash inflows from customer deposits and deposits from banks and financial assets held for trading.\nNet cash outflow from investing activities was RMB116.901 billion, as compared with net outflow of RMB2.059 billion for the same period of previous year, mainly due to an\nincrease in cash paid for the investment.\nNet cash outflow from financing activities was RMB190.955 billion, as compared with net outflow of RMB22.248 billion for the same period of previous year, mainly due to\nthe increase in cash paid for repayment of interbank certificates of deposit.\n(V) Analysis of loan quality\n1. Five-category loan classification\nDuring the reporting period, the Company made adequate provision for loan losses in accordance with the relevant provisions of the Accounting Standards for Business\nEnterprises based on the expected credit loss model as well as quantitative parameters of risk such as the customer’s default probability and default loss rate, taking into\nconsideration macro forwarding adjustments.\n5. Income tax\nDuring the reporting period, the effective income tax rate of the Company was 7.92%. The difference between the income tax expense and the amount calculated based\non the 25% statutory tax rate is set out as follows:\nUnit: RMB million\nUnit: RMB million\nItem\nDecember 31, 2023 December 31, 2022 Balance Percentage (%) Balance Percentage (%)\nIncrease/ decrease in balance at\nthe end of the reporting period\ncompared with that at the end of\nlast year (%)\nNormal 5,317,995 97.38 4,854,384 97.42 9.55\nSpecial mention 84,449 1.55 74,015 1.49 14.10\nSubstandard 23,151 0.42 20,951 0.41 10.50\nDoubtful 11,441 0.21 20,303 0.41 (43.65)\nLoss 23,899 0.44 13,234 0.27 80.59\nItem 2023\nProfit before tax 84,329\nStatutory tax rate (%) 25\nIncome tax calculated at statutory tax rate 21,082\nEffect on tax due to adjustment on the following items:\nTax-exempt income (13,900)\nNon-deductible items 370\nAdjustment on the tax of previous years (877)\nIncome tax expense 6,675\nTotal 5,460,935 100 4,982,887 100 9.59\nAs at the end of the reporting period, the balance of the Company’s NPLs was RMB58.491 billion, up RMB4.003 billion from the end of the year with NPL ratio of 1.07%,\ndown 0.02 percentage point from the end of last year. The balance of special mention loans was RMB84.449 billion, up RMB10.434 billion from the end of last year. The\nproportion of the special mention loans in the total loans was 1.55%, up 0.06 percentage point from the end of last year. During the reporting period, credit risks in certain\nregions and industries continuously became exposed. The Company established and improved an early warning, monitoring, disposal and mitigation system for potential\nrisky projects to promote risk mitigation in key areas such as real estate, financing platforms of local government, and credit cards, enhanced professional capabilities of\nthe collection and disposal of non-performing assets, strengthened risk cost management and control, and continued to maintain asset quality stable.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_company_type",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 9:\n\nChairman’s Statement\n2023 marks the 35th anniversary of the Industrial Bank, as well as the third year for the new team to take on the baton in the\ndevelopment relay. During this period, the Industrial Bank’s total assets have successively surpassed three major milestones\nwith each of RMB1 trillion, reaching a significant threshold of RMB10 trillion; both loans and deposits have realized a growth of\nRMB1 trillion, climbing to a high of RMB5 trillion; the non-performing loan ratio has decreased from 1.25% to 1.07%, while the\nprovision coverage ratio has risen from 219% to 245%; corporate finance customers have approached an increase of close to\n500,000, with a growth rate of over 50%, and retail customers have increased by more than 20 million, ushering in an era of 100\nmillion customers. The bank has consistently held its position among the top 20 in the global banking industry, and its MSCI\nESG rating has been upgraded from ‘A’ to ‘AA’\n.\nDuring the theme education period, we recalled the message from President Xi Jinping to the people of Industrial Bank in\n2001, which deeply resonated with us. The earnest exhortation to implement the fundamental strategy of “strict governance,\nexpertise management and technology enhancement” has sounded like a powerful bell toll, echoing through the progressive\npath of Industrial Bank since the new millennium. This exhortation has also become the main theme guiding us as we go all\nout in last three years.\n—We insist on strict governance, consistently regard upholding the Party leadership and strengthening the Party building as\nour\n“root” and “soul”, actively transform “the country’s most fundamental interests” into “the bank’s priorities”, and strive to\nfight an “active battle” by “making the first move”, thereby renewing both our external image and internal ecology and vividly\nrealizing the transformation into a mainstream bank.\n—We insist on expertise management, accurately grasp the shift from the old triangular cycle of “real estate - infrastructure\n- finance\n” to the new triangular cycle of “technology - industry - finance\n”, proactively layout our strategy across the “five new\ntracks” of inclusive finance, science and technology innovation finance, energy finance, automobile finance and industrial\nzone finance, and continue to polish the “three business cards” of green bank, wealth bank and investment bank. In tandem,\nwe establish research institutes for carbon finance, financial technology and Southeast Asian studies, implement plans to\ndevelop tens of thousands of talents in both green finance and technology, and closely align our development and operation\nstrategies, ensuring that our path of transformation is swift and steady.\n—We insist on technology enhancement, having experienced a conceptual evolution from the determination of “selling iron\nand smashing pots to finance technology” to the critical understanding that “digital transformation is a battle for survival”\n,\nimplemented technological system reforms, increased investment in technological resources and intensified the cultivation of\nour technology team. Our annual investment in technology exceeds RMB8 billion, and our technology team has nearly reached\n8,000 people. We have also developed a methodological approach to advance digital transformation “at the enterprise level\nand by standardization”. The convergence of technology empowerment and innovation-driven development has accumulated\nmomentum for Digital Industrial Bank.\nThe tides of the era are surging, and the crests and troughs can flip in the blink of an eye; we cannot afford a moment of\nrelaxation and must strive to grasp certainties amid many uncertainties.\nIn face of the new era and new journey, we have seriously studied the spirit of the Central Financial Work Conference,\ndeeply understood the essence of the path of financial development with Chinese characteristics, and combining the\nearnest instructions from the beginning of the century with the transformation progress of the past three years, have further\nstrengthened our sense of direction and mission to advance high-quality development, striving to respond to the call of our\ntimes to develop China into a financial powerhouse by constructing a strong financial institution.\n—We should prioritize development foremost. Tightly focusing on the primary task of high-quality development, we\nshould integrate the “five new tracks” and “three business cards” organically with the “five major areas” of finance and the\nconstruction of the “three major projects”, treat the development of retail business as an urgent priority, consider controlling\nthe cost of liabilities as of paramount importance, accelerate the rebalancing of economy with finance, wholesale with retail,\nand assets with liabilities, serve the country’s most fundamental interests and respond to the aspirations of the people with\na more distinctive business model, and combat market volatility and navigate economic cycles with a more harmonized\nbusiness structure.\n—We should strive for efficiency in the face of risk. In an era of economic changes, risk costs have become the largest\nexpense for banks; thus, prioritizing quality equates to prioritizing efficiency. We should regard our transformation strategy\nas a series of decisive actions, knowing both what to do and what not to do, view enterprise management as a long\nmarathon, consistently maintain the general principle of seeking progress while maintaining stability, continually enhance\nour comprehensive risk management capabilities, ensure the vigilance of personnel, the control of funds, the consolidation\nof institutional firewalls, and the enhancement of institutional execution efficiency, and adhere to the bottom line of risk\nmanagement, thus ensuring the bank’s steady and sustained development.\n02 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_key_financials",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating income: 210831m, profit before tax: 84329m, basic EPS: 3.51, net cash flow operating activities: 433617m",
      "golden_context": "Page 11:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nClasses of securities The stock exchange Abbreviation Code\nA shares Shanghai Stock Exchange Industrial Bank 601166\nPreferred shares Shanghai Stock Exchange\nIndustrial P1 360005\nIndustrial P2 360012\nIndustrial P3 360032\nConvertible corporate bonds Shanghai Stock Exchange Industrial convertible bonds 113052\nVII. Other related information\nCertified public accountants firm engaged by the Company: KPMG Huazhen LLP\nOffice address: 8/F, KPMG Tower, Oriental Plaza, 1 Dongchang’an Street, Dongcheng District, Beijing, PRC\nNames of the signing accountants: Chen Sijie, Wu Zhongming\nSponsors performing continuous supervision duties: CSC Financial Co., Ltd.; China Industrial Securities Co., Ltd.\nOffice address: 11/F, Taikang Group Building, Tower 1 Yard 16, Jinghui Street, Chaoyang District, Beijing; 268 Hudong Road, Fuzhou, Fujian Province\nNames of the signing sponsors: Yan Mingqing, Pan Qingming; Wang Haisang, Zhang Yi\nContinuous supervision period: from January 14, 2022 to December 31, 2023\nThis report is prepared in both Chinese and English. Should there be any discrepancy in\ninterpretation, the Chinese version shall prevail.\nItem 2023 2022 Increase/decrease in 2023 compared\nwith 2022 (%) 2021\nOperating income 210,831 222,374 (5.19) 221,236\nProfit before tax 84,329 106,221 (20.61) 95,310\nNet profit attributable to the shareholders\nof the parent company 77,116 91,377 (15.61) 82,680\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n76,523 90,996 (15.91) 82,206\nBasic EPS (Yuan) 3.51 4.20 (16.43) 3.77\nDiluted EPS (Yuan) 3.24 3.87 (16.28) 3.77\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.48 4.18 (16.75) 3.75\nROA (%) 0.80 1.03 Down 0.23 percentage point 1.02\nWeighted average ROE (%) 10.64 13.85 Down 3.21 percentage points 13.94\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 10.55 13.79 Down 3.24 percentage points 13.86\nCost-to-income ratio (%) 29.97 29.37 Up 0.60 percentage point 25.68\nNet cash flow from operating activities 433,617 (344,587) Negative in the same period of last\nyear (389,771)\nactivities (Yuan) Net cash flow per share from operating\n20.87 (16.59) Negative in the same period of last\nyear (18.76)\nItem December 31, 2023 December 31, 2022 Increase/decrease at the end 2023\ncompared with the end of 2022 (%) December 31, 2021\nTotal assets 10,158,326 9,266,671 9.62 8,603,024\nEquity attributable to the shareholders of\nthe parent company 796,224 746,187 6.71 684,111\nOwners' equity attributable to the ordinary\nshareholders of the parent company 710,422 660,385 7.58 598,309\nNet assets per share attributable to the\no r d i n a r y s h a r e h o l d e r s o f t h e p a r e n t\ncompany (Yuan)\n34.20 31.79 7.58 28.80\nNPL ratio (%) 1.07 1.09 Down 0.02 percentage point 1.10\nProvision coverage ratio (%) 245.21 236.44 Up 8.77 percentage points 268.73\nProvision-to-loan ratio (%) 2.63 2.59 Up 0.04 percentage point 2.96\nNotes: 1. Basic EPS and weighted average ROE were calculated based on “Preparation Rules for Information Disclosure by Companies Offering Securities to the Public No.9\n‒ Calculation and Disclosure of Return on Net Assets and Earnings per Share (2010 Revision)”\n.\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial P1, Industrial P2 and Industrial P3) with",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_revenue",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "operating income: 210831m",
      "golden_context": "Page 11:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nClasses of securities The stock exchange Abbreviation Code\nA shares Shanghai Stock Exchange Industrial Bank 601166\nPreferred shares Shanghai Stock Exchange\nIndustrial P1 360005\nIndustrial P2 360012\nIndustrial P3 360032\nConvertible corporate bonds Shanghai Stock Exchange Industrial convertible bonds 113052\nVII. Other related information\nCertified public accountants firm engaged by the Company: KPMG Huazhen LLP\nOffice address: 8/F, KPMG Tower, Oriental Plaza, 1 Dongchang’an Street, Dongcheng District, Beijing, PRC\nNames of the signing accountants: Chen Sijie, Wu Zhongming\nSponsors performing continuous supervision duties: CSC Financial Co., Ltd.; China Industrial Securities Co., Ltd.\nOffice address: 11/F, Taikang Group Building, Tower 1 Yard 16, Jinghui Street, Chaoyang District, Beijing; 268 Hudong Road, Fuzhou, Fujian Province\nNames of the signing sponsors: Yan Mingqing, Pan Qingming; Wang Haisang, Zhang Yi\nContinuous supervision period: from January 14, 2022 to December 31, 2023\nThis report is prepared in both Chinese and English. Should there be any discrepancy in\ninterpretation, the Chinese version shall prevail.\nItem 2023 2022 Increase/decrease in 2023 compared\nwith 2022 (%) 2021\nOperating income 210,831 222,374 (5.19) 221,236\nProfit before tax 84,329 106,221 (20.61) 95,310\nNet profit attributable to the shareholders\nof the parent company 77,116 91,377 (15.61) 82,680\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n76,523 90,996 (15.91) 82,206\nBasic EPS (Yuan) 3.51 4.20 (16.43) 3.77\nDiluted EPS (Yuan) 3.24 3.87 (16.28) 3.77\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.48 4.18 (16.75) 3.75\nROA (%) 0.80 1.03 Down 0.23 percentage point 1.02\nWeighted average ROE (%) 10.64 13.85 Down 3.21 percentage points 13.94\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 10.55 13.79 Down 3.24 percentage points 13.86\nCost-to-income ratio (%) 29.97 29.37 Up 0.60 percentage point 25.68\nNet cash flow from operating activities 433,617 (344,587) Negative in the same period of last\nyear (389,771)\nactivities (Yuan) Net cash flow per share from operating\n20.87 (16.59) Negative in the same period of last\nyear (18.76)\nItem December 31, 2023 December 31, 2022 Increase/decrease at the end 2023\ncompared with the end of 2022 (%) December 31, 2021\nTotal assets 10,158,326 9,266,671 9.62 8,603,024\nEquity attributable to the shareholders of\nthe parent company 796,224 746,187 6.71 684,111\nOwners' equity attributable to the ordinary\nshareholders of the parent company 710,422 660,385 7.58 598,309\nNet assets per share attributable to the\no r d i n a r y s h a r e h o l d e r s o f t h e p a r e n t\ncompany (Yuan)\n34.20 31.79 7.58 28.80\nNPL ratio (%) 1.07 1.09 Down 0.02 percentage point 1.10\nProvision coverage ratio (%) 245.21 236.44 Up 8.77 percentage points 268.73\nProvision-to-loan ratio (%) 2.63 2.59 Up 0.04 percentage point 2.96\nNotes: 1. Basic EPS and weighted average ROE were calculated based on “Preparation Rules for Information Disclosure by Companies Offering Securities to the Public No.9\n‒ Calculation and Disclosure of Return on Net Assets and Earnings per Share (2010 Revision)”\n.\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial P1, Industrial P2 and Industrial P3) with",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_revenue_growth",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "operating income: 210831m, prior year: 222374m",
      "golden_context": "Page 11:\n\nVIII. Key accounting data and financial indicators of the Company\n(I) Key accounting data and financial indicators\nUnit: RMB million\nClasses of securities The stock exchange Abbreviation Code\nA shares Shanghai Stock Exchange Industrial Bank 601166\nPreferred shares Shanghai Stock Exchange\nIndustrial P1 360005\nIndustrial P2 360012\nIndustrial P3 360032\nConvertible corporate bonds Shanghai Stock Exchange Industrial convertible bonds 113052\nVII. Other related information\nCertified public accountants firm engaged by the Company: KPMG Huazhen LLP\nOffice address: 8/F, KPMG Tower, Oriental Plaza, 1 Dongchang’an Street, Dongcheng District, Beijing, PRC\nNames of the signing accountants: Chen Sijie, Wu Zhongming\nSponsors performing continuous supervision duties: CSC Financial Co., Ltd.; China Industrial Securities Co., Ltd.\nOffice address: 11/F, Taikang Group Building, Tower 1 Yard 16, Jinghui Street, Chaoyang District, Beijing; 268 Hudong Road, Fuzhou, Fujian Province\nNames of the signing sponsors: Yan Mingqing, Pan Qingming; Wang Haisang, Zhang Yi\nContinuous supervision period: from January 14, 2022 to December 31, 2023\nThis report is prepared in both Chinese and English. Should there be any discrepancy in\ninterpretation, the Chinese version shall prevail.\nItem 2023 2022 Increase/decrease in 2023 compared\nwith 2022 (%) 2021\nOperating income 210,831 222,374 (5.19) 221,236\nProfit before tax 84,329 106,221 (20.61) 95,310\nNet profit attributable to the shareholders\nof the parent company 77,116 91,377 (15.61) 82,680\nNet profit attributable to the shareholders\nof the parent company, after deduction of\nnon-recurring gains and losses\n76,523 90,996 (15.91) 82,206\nBasic EPS (Yuan) 3.51 4.20 (16.43) 3.77\nDiluted EPS (Yuan) 3.24 3.87 (16.28) 3.77\nBasic EPS, after deduction of non-recurring\ngains and losses (Yuan) 3.48 4.18 (16.75) 3.75\nROA (%) 0.80 1.03 Down 0.23 percentage point 1.02\nWeighted average ROE (%) 10.64 13.85 Down 3.21 percentage points 13.94\nWeighted average ROE, after deduction of\nnon-recurring gains and losses (%) 10.55 13.79 Down 3.24 percentage points 13.86\nCost-to-income ratio (%) 29.97 29.37 Up 0.60 percentage point 25.68\nNet cash flow from operating activities 433,617 (344,587) Negative in the same period of last\nyear (389,771)\nactivities (Yuan) Net cash flow per share from operating\n20.87 (16.59) Negative in the same period of last\nyear (18.76)\nItem December 31, 2023 December 31, 2022 Increase/decrease at the end 2023\ncompared with the end of 2022 (%) December 31, 2021\nTotal assets 10,158,326 9,266,671 9.62 8,603,024\nEquity attributable to the shareholders of\nthe parent company 796,224 746,187 6.71 684,111\nOwners' equity attributable to the ordinary\nshareholders of the parent company 710,422 660,385 7.58 598,309\nNet assets per share attributable to the\no r d i n a r y s h a r e h o l d e r s o f t h e p a r e n t\ncompany (Yuan)\n34.20 31.79 7.58 28.80\nNPL ratio (%) 1.07 1.09 Down 0.02 percentage point 1.10\nProvision coverage ratio (%) 245.21 236.44 Up 8.77 percentage points 268.73\nProvision-to-loan ratio (%) 2.63 2.59 Up 0.04 percentage point 2.96\nNotes: 1. Basic EPS and weighted average ROE were calculated based on “Preparation Rules for Information Disclosure by Companies Offering Securities to the Public No.9\n‒ Calculation and Disclosure of Return on Net Assets and Earnings per Share (2010 Revision)”\n.\n2. As at the end of the reporting period, the Company issued an aggregate of RMB56 billion preferred shares (Industrial P1, Industrial P2 and Industrial P3) with",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000417_segments",
      "report_id": "ID_000417",
      "company_name": "Industrial Bank Co LTD",
      "year": 2023,
      "country": "CN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "The Company divided its regional branches into ten segments by importance and comparability, namely, head office (including the headquarters and its affiliated\noperating units), Fujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, Northeast China and other regions, Western China and Central China.",
      "golden_context": "Page 32:\n\n(1) The Company divided its regional branches into ten segments by importance and comparability, namely, head office (including the headquarters and its affiliated\noperating units), Fujian, Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, Northeast China and other regions, Western China and Central China. The operating income and\noperating profit of each regional branch are set out as follows:\nUnit: RMB million\n3. Financial position and operating results\n(1) Changes of key financial indicators and descriptions\nUnit: RMB million\nSegment Operating income Change over previous\nyear (%) Operating profit Change over previous\nyear (%)\nHead office 81,137 (13.42) 38,164 (7.64)\nFujian 30,359 2.01 9,910 (21.93)\nBeijing 6,165 (4.46) 1,311 (14.54)\nShanghai 7,839 7.75 3,097 (16.84)\nGuangdong 10,350 (1.79) 3,227 14.88\nZhejiang 10,580 4.15 5,447 (8.91)\nJiangsu 12,390 4.84 6,447 (14.23)\nNortheast China and other regions 19,023 (1.76) 10,312 (12.60)\nWestern China 14,062 1.10 (134) (101.85)\nCentral China 18,926 (2.35) 6,359 (44.99)\nTotal 210,831 (5.19) 84,140 (20.74)\n(2) The amount, proportion and year-on-year changes of the items of operating income\nUnit: RMB million\nItem December 31, 2023 December 31,\n2022\nIncrease/decrease\nover previous year (%) Brief description\nTotal assets 10,158,326 9,266,671 9.62\nSteady growth in various asset\nbusiness and overall optimization of\nasset structure\nTotal liabilities 9,350,607 8,509,373 9.89\nSteady growth in various liability\nbusiness and overall optimization of\nliability structure\nshareholders of the parent company Shareholders’ equity attributable to the\n796,224 746,187 6.71 Transfer of net profits for the current\nperiod\nUnit: RMB million\nItem 2023 2022\nIncrease/decrease\nover the same period\nof previous year (%)\nBrief description\nOperating income 210,831 222,374 (5.19)\nYear-on-year decrease of 16.57% in net\nnon-interest income due to the impact\nof decrease in income from wealth\nmanagement fees\nNet profit attributable to the shareholders\nof the parent company 77,116 91,377 (15.61)\nDecrease in operating income; increase\nin investment in strategic key areas\nsuch as digital construction, business\ntransformation, brand and customer\ninfrastructure construction, and increase\nin the cost-to-income ratio; making\nreasonable impairment provision to\nconsolidate asset quality\nWeighted average ROE (%) 10.64 13.85 Down 3.21\npercentage points\nThe growth rate of net profit lower than\nthe growth rate of weighted average net\nassets and decline in weighted average\nROE\nItem Amount Percentage in total\noperating income (%)\nIncrease/decrease\nyear-on-year (%)\nInterest income from loans 236,281 56.42 4.80\nInterest income from placements 13,592 3.25 26.31\nInterest income from deposits in Central Bank 5,795 1.38 2.46\nInterest income from deposits in banks and other financial institutions 3,023 0.72 111.99\nInterest income from resale agreements 3,781 0.90 (4.78)\nGain and loss, and interest income from investments 112,149 26.78 5.32\nFee and commission income 33,119 7.91 (33.04)\nInterest income from financing lease 4,976 1.19 (1.15)\nOther income 6,055 1.45 201.24\nTotal 418,771 100 2.07",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_cash_flow",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 382386m, investing: -404164m, financing: -105477m",
      "golden_context": "Page 20-21:\n\n[Consolidated Statement of Cash Flows]\n(Millions of yen)\nNotes\nFY2020\n(April 1, 2019\n- March 31, 2020)\nFY2021\n(April 1, 2020\n- March 31, 2021)\nCash flows from operating activities:\nProfit before income taxes 196,288 184,011\nDepreciation and amortization 208,312 209,839\nImpairment losses 2,496 3,008\nInterest and dividends income (74,152) (72,429)\nInterest expenses 5,966 5,430\nShare of (profit) loss of investments accounted\nfor by the equity method (1,472) (1,682)\n(Increase) decrease in inventories (20,204) (20,673)\n(Increase) decrease in trade receivables and\nother receivables (55,601) (40,035)\nIncrease (decrease) in trade payables and other\npayables 24,185 73,868\nOthers (1,806) 26,205\nSubtotal 284,011 367,543\nInterest and dividends income received 74,379 72,881\nInterest expenses paid (6,036) (5,433)\nIncome taxes paid (39,154) (52,605)\nNet cash provided by operating activities 313,199 382,386\nCash flows from investing activities:\nPayments for purchases of property, plant and\nequipment (216,002) (222,360)\nProceeds from sales of property, plant and\nequipment 14,837 16,200\nPayments for purchases of investment securities (2,685) (4,455)\nProceeds from sales of investment securities 2,129 Payments for acquisition of subsidiaries' stock\nresulting in change in scope of consolidation (1,280) (714)\nPayments for loans made (844) (1,107)\nProceeds from collection of loans 1,501 1,033\nPayments for bank deposits (547,601) (929,999)\nProceeds from withdrawals of bank deposits 594,756 752,408\nPayments for transfer of businesses (5,903) (901)\nOthers (21,506) (14,269)\nNet cash used in investing activities (182,598) (404,164)\n3\n― 19 ―\n(Millions of yen)\nNotes\nFY2020\n(April 1, 2019\n- March 31, 2020)\nFY2021\n(April 1, 2020\n- March 31, 2021)\nCash flows from financing activities:\nPayments for acquisition of subsidiaries' stock\nnot resulting in change in scope of consolidation (329) (5,602)\nProceeds from sales of subsidiaries' stock not\nresulting in change in scope of consolidation 227 929\nNet increase (decrease) in short-term loans\npayable (within three months) 30 3,359 (13,507)\nProceeds from short-term loans payable\n(over three months) 30 61,759 64,349\nRepayments of short-term loans payable\n(over three months) 30 (24,620) (65,989)\nProceeds from long-term loans payable 30 183,142 182,295\nRepayments of long-term loans payable 30 (122,901) (99,189)\nProceeds from issuance of corporate bonds 30 76,255 47,038\nRepayments of corporate bonds 30 (93,896) (84,589)\nPayments for repurchase of treasury stock (9) (14)\nCash dividends paid 19 (49,677) (46,572)\nCash dividends paid to non-controlling interests (2,123) (1,627)\nOthers (38,280) (82,996)\nNet cash used in financing activities (7,094) (105,477)\nTranslation adjustments of cash and cash\nequivalents (4,502) 7,359\nNet increase (decrease) in cash and cash\nequivalents 119,003 (119,896)\nCash and cash equivalents at beginning of\nperiod 239,140 358,144\nCash and cash equivalents at end of period 5 358,144 238,248\nThe accompanying notes are an integral part of these financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_company_type",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, but \"Corporation\" is probably the correct answer. \"no answer found\" is also fine.",
      "golden_context": "Page 4:\n\nManagement's Discussion and Analysis of Financial Condition and Results of Operations\nThe following Management's Discussion and Analysis of Financial Condition and Results of Operations is based on\ninformation known to management as of June 2021.\nThis section contains projections and forward-looking statements that involve risks, uncertainties and assumptions. You\nshould be aware that certain risks and uncertainties could cause the actual results of Toyota Industries Corporation and its\nconsolidated subsidiaries to differ materially from any projections or forward-looking statements. These risks and\nuncertainties include, but are not limited to, those listed under \"Risk Information\" and elsewhere in this annual report.\nThe fiscal year ended March 31, 2021 is referred to as FY2021 and other fiscal years are referred to in a corresponding\nmanner. All references to the \"Company\" herein are to Toyota Industries Corporation on a stand-alone basis and\nreferences to \"Toyota Industries\" herein are to the Company and its 256 consolidated subsidiaries.\n1. Result of Operations\n(1) Operating Performance\nIn FY2021 (ended March 31, 2021), the global economy declined sharply due to the spread of COVID-19. However,\nthe economy has since bottomed out and begun to recover moderately thanks to factors such as the recuperating\nChinese economy and underlying economic policies in respective countries. Although negatively affected by the\ndeclaration of a state of emergency, the Japanese economy is beginning to experience a moderate recovery as a result\nof growth in exports mainly to China and robust consumer spending. In this operating environment, Toyota Industries\nundertook efforts to ensure customer trust through a priority to quality as well as flexible response to market trends.\nTotal consolidated net sales amounted to 2,118.3 billion yen, a decrease of 53.0 billion yen, or 2%, from the previous\nfiscal year.\n(2) Operating Performance Highlights by Business",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_key_financials",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 2118302m, operating profit: 118159m, profit: 141435m, EPS basic: 440.28",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2017 FY2018 FY2019 FY2020 FY2021\nNet sales (Millions of yen) 1,675,148 2,003,973 2,214,946 2,171,355 2,118,302\nOperating profit (Millions of yen) 127,345 147,445 134,684 128,233 118,159\nProfit (Millions of yen) 137,565 173,816 159,778 150,187 141,435\nProfit: attributable to owners of the parent\n(Millions of yen) 131,398 168,180 152,748 145,881 136,700\nComprehensive income (Millions of yen) 202,743 361,599 (16,789) 10,474 854,098\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,240,293 2,553,391 2,479,718 2,438,807 3,236,038\nTotal assets (Millions of yen) 4,558,212 5,258,500 5,261,174 5,279,653 6,503,986\nEquity per share: attributable to owners\nof the parent (Yen) 7,215.37 8,223.82 7,986.59 7,854.87 10,422.64\nEarnings per share－basic (Yen) 420.78 541.67 491.97 469.85 440.28\nEarnings per share－diluted (Yen) － － － － －\nRatio of equity attributable to owners\nof the parent to total assets (%) 49.15 48.56 47.13 46.19 49.75\nReturn on equity attributable to owners\nof the parent (%) 6.06 7.02 6.07 5.93 4.82\nPrice-to-earnings ratio (Times) 13.14 11.89 11.28 11.02 22.39\nNet cash provided by operating activities\n(Millions of yen) 239,094 268,567 270,306 313,199 382,386\nNet cash used in investing activities\n(Millions of yen) (86,925) (340,324) (395,000) (182,598) (404,164)\nNet cash provided by financing activities\n(Millions of yen) 789 153,303 40,467 (7,094) (105,477)\nCash and cash equivalents at end of period\n(Millions of yen) 243,685 323,830 239,140 358,144 238,248\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n52,623\n[10,995]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Net sales do not include consumption taxes.\n3. Amounts for diluted earnings per share are not presented because there are no shares with a potentially\ndilutive effect.\n4. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_revenue",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales: 2118302m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2017 FY2018 FY2019 FY2020 FY2021\nNet sales (Millions of yen) 1,675,148 2,003,973 2,214,946 2,171,355 2,118,302\nOperating profit (Millions of yen) 127,345 147,445 134,684 128,233 118,159\nProfit (Millions of yen) 137,565 173,816 159,778 150,187 141,435\nProfit: attributable to owners of the parent\n(Millions of yen) 131,398 168,180 152,748 145,881 136,700\nComprehensive income (Millions of yen) 202,743 361,599 (16,789) 10,474 854,098\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,240,293 2,553,391 2,479,718 2,438,807 3,236,038\nTotal assets (Millions of yen) 4,558,212 5,258,500 5,261,174 5,279,653 6,503,986\nEquity per share: attributable to owners\nof the parent (Yen) 7,215.37 8,223.82 7,986.59 7,854.87 10,422.64\nEarnings per share－basic (Yen) 420.78 541.67 491.97 469.85 440.28\nEarnings per share－diluted (Yen) － － － － －\nRatio of equity attributable to owners\nof the parent to total assets (%) 49.15 48.56 47.13 46.19 49.75\nReturn on equity attributable to owners\nof the parent (%) 6.06 7.02 6.07 5.93 4.82\nPrice-to-earnings ratio (Times) 13.14 11.89 11.28 11.02 22.39\nNet cash provided by operating activities\n(Millions of yen) 239,094 268,567 270,306 313,199 382,386\nNet cash used in investing activities\n(Millions of yen) (86,925) (340,324) (395,000) (182,598) (404,164)\nNet cash provided by financing activities\n(Millions of yen) 789 153,303 40,467 (7,094) (105,477)\nCash and cash equivalents at end of period\n(Millions of yen) 243,685 323,830 239,140 358,144 238,248\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n52,623\n[10,995]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Net sales do not include consumption taxes.\n3. Amounts for diluted earnings per share are not presented because there are no shares with a potentially\ndilutive effect.\n4. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_revenue_growth",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales: 2118302m, prior year: 2171355m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2017 FY2018 FY2019 FY2020 FY2021\nNet sales (Millions of yen) 1,675,148 2,003,973 2,214,946 2,171,355 2,118,302\nOperating profit (Millions of yen) 127,345 147,445 134,684 128,233 118,159\nProfit (Millions of yen) 137,565 173,816 159,778 150,187 141,435\nProfit: attributable to owners of the parent\n(Millions of yen) 131,398 168,180 152,748 145,881 136,700\nComprehensive income (Millions of yen) 202,743 361,599 (16,789) 10,474 854,098\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,240,293 2,553,391 2,479,718 2,438,807 3,236,038\nTotal assets (Millions of yen) 4,558,212 5,258,500 5,261,174 5,279,653 6,503,986\nEquity per share: attributable to owners\nof the parent (Yen) 7,215.37 8,223.82 7,986.59 7,854.87 10,422.64\nEarnings per share－basic (Yen) 420.78 541.67 491.97 469.85 440.28\nEarnings per share－diluted (Yen) － － － － －\nRatio of equity attributable to owners\nof the parent to total assets (%) 49.15 48.56 47.13 46.19 49.75\nReturn on equity attributable to owners\nof the parent (%) 6.06 7.02 6.07 5.93 4.82\nPrice-to-earnings ratio (Times) 13.14 11.89 11.28 11.02 22.39\nNet cash provided by operating activities\n(Millions of yen) 239,094 268,567 270,306 313,199 382,386\nNet cash used in investing activities\n(Millions of yen) (86,925) (340,324) (395,000) (182,598) (404,164)\nNet cash provided by financing activities\n(Millions of yen) 789 153,303 40,467 (7,094) (105,477)\nCash and cash equivalents at end of period\n(Millions of yen) 243,685 323,830 239,140 358,144 238,248\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n52,623\n[10,995]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Net sales do not include consumption taxes.\n3. Amounts for diluted earnings per share are not presented because there are no shares with a potentially\ndilutive effect.\n4. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000418_segments",
      "report_id": "ID_000418",
      "company_name": "Toyota",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automobile, Materials Handling Equipment, Textile Machinery",
      "golden_context": "Page 34:\n\n4. Segment Information\nThe operating segments reported below are the segments of Toyota Industries for which separate financial information\nis available and for which operating profit (loss) amounts are evaluated regularly by executive management in deciding\nhow to allocate resources and in assessing performance.\nThe reporting segments of Toyota Industries consist of Automobile, Materials Handling Equipment and Textile\nMachinery. The similarity of products and services are taken into account for the separation. Within the Automobile\nSegment, vehicles, engines, car air-conditioning compressors and others are included due to the similarity of their\neconomic characteristics such as net sales. The main products and services of each segment are as follows.\nSegment Main products and services of each segment\nAutomobile Vehicles, diesel and gasoline engines, car air-conditioning compressors, electronics\nparts, foundry and others\nMaterials Handling\nEquipment\nLift trucks, warehouse trucks, automated storage and retrieval systems, aerial work\nplatforms, logistics solutions, sales financing business\nTextile Machinery Weaving machinery, spinning machinery, instruments for yarn testing and cotton\nclassing\nThe accounting method of reporting segment information is based on \"3. Significant Accounting Policies\".\nSegment profit is based on operating profit.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_cash_flow",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 321bn, investing: -229.8bn, financing: -92.1bn",
      "golden_context": "Page 5:\n\n4. Cash Flows\nNet cash provided by operating activities was 321.0 billion yen in FY2022, due to posting profit before income taxes of\n246.1 billion yen. Net cash provided by operating activities decreased by 61.3 billion yen compared to that of 382.3 billion\nyen in the previous fiscal year.\nNet cash used in investing activities was 229.8 billion yen in FY2022, attributable primarily to payments for purchases of\nproperty, plant and equipment of 237.3 billion yen. Net cash used in investing activities increased by 174.3 billion yen\ncompared to that of 404.1 billion yen in the previous fiscal year.\nNet cash used in financing activities was 92.1 billion yen in FY2022, due mainly to repayments of corporate bonds of 184.0\nbillion yen. Net cash used in financing activities increased by 13.3 billion yen compared to that of 105.4 billion yen in the\nprevious fiscal year.\nAfter adding translation adjustments and cash and cash equivalents at beginning of period, cash and cash equivalents as\nof March 31, 2022 stood at 247.0 billion yen, an",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_company_type",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, but \"Corporation\" is probably the correct answer. \"no answer found\" is also fine.",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2018 FY2019 FY2020 FY2021 FY2022\nNet sales (Millions of yen) 2,003,973 2,214,946 2,171,355 2,118,302 2,705,183\nOperating profit (Millions of yen) 147,445 134,684 128,233 118,159 159,066\nProfit (Millions of yen) 173,816 159,778 150,187 141,435 185,350\nProfit: attributable to owners of the parent\n(Millions of yen) 168,180 152,748 145,881 136,700 180,306\nComprehensive income (Millions of yen) 361,599 (16,789) 10,474 854,098 751,823\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,553,391 2,479,718 2,438,807 3,236,038 3,928,513\nTotal assets (Millions of yen) 5,258,500 5,261,174 5,279,653 6,503,986 7,627,120\nEquity per share: attributable to owners\nof the parent (Yen) 8,223.82 7,986.59 7,854.87 10,422.64 12,653.04\nEarnings per share－basic (Yen) 541.67 491.97 469.85 440.28 580.73\nEarnings per share－diluted (Yen) 541.67 491.97 469.85 440.28 580.73\nRatio of equity attributable to owners\nof the parent to total assets (%) 48.56 47.13 46.19 49.75 51.51\nReturn on equity attributable to owners\nof the parent (%) 7.02 6.07 5.93 4.82 5.03\nPrice-to-earnings ratio (Times) 11.89 11.28 11.02 22.39 14.58\nNet cash provided by operating activities\n(Millions of yen) 268,567 270,306 313,199 382,386 321,085\nNet cash used in investing activities\n(Millions of yen) (340,324) (395,000) (182,598) (404,164) (229,805)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 153,303 40,467 (7,094) (105,477) (92,114)\nCash and cash equivalents at end of period\n(Millions of yen) 323,830 239,140 358,144 238,248 247,085\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_key_financials",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 2705183m, operating profit: 159066m, profit: 185350m, EPS basic: 580.73",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2018 FY2019 FY2020 FY2021 FY2022\nNet sales (Millions of yen) 2,003,973 2,214,946 2,171,355 2,118,302 2,705,183\nOperating profit (Millions of yen) 147,445 134,684 128,233 118,159 159,066\nProfit (Millions of yen) 173,816 159,778 150,187 141,435 185,350\nProfit: attributable to owners of the parent\n(Millions of yen) 168,180 152,748 145,881 136,700 180,306\nComprehensive income (Millions of yen) 361,599 (16,789) 10,474 854,098 751,823\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,553,391 2,479,718 2,438,807 3,236,038 3,928,513\nTotal assets (Millions of yen) 5,258,500 5,261,174 5,279,653 6,503,986 7,627,120\nEquity per share: attributable to owners\nof the parent (Yen) 8,223.82 7,986.59 7,854.87 10,422.64 12,653.04\nEarnings per share－basic (Yen) 541.67 491.97 469.85 440.28 580.73\nEarnings per share－diluted (Yen) 541.67 491.97 469.85 440.28 580.73\nRatio of equity attributable to owners\nof the parent to total assets (%) 48.56 47.13 46.19 49.75 51.51\nReturn on equity attributable to owners\nof the parent (%) 7.02 6.07 5.93 4.82 5.03\nPrice-to-earnings ratio (Times) 11.89 11.28 11.02 22.39 14.58\nNet cash provided by operating activities\n(Millions of yen) 268,567 270,306 313,199 382,386 321,085\nNet cash used in investing activities\n(Millions of yen) (340,324) (395,000) (182,598) (404,164) (229,805)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 153,303 40,467 (7,094) (105,477) (92,114)\nCash and cash equivalents at end of period\n(Millions of yen) 323,830 239,140 358,144 238,248 247,085\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_revenue",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 2705183m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2018 FY2019 FY2020 FY2021 FY2022\nNet sales (Millions of yen) 2,003,973 2,214,946 2,171,355 2,118,302 2,705,183\nOperating profit (Millions of yen) 147,445 134,684 128,233 118,159 159,066\nProfit (Millions of yen) 173,816 159,778 150,187 141,435 185,350\nProfit: attributable to owners of the parent\n(Millions of yen) 168,180 152,748 145,881 136,700 180,306\nComprehensive income (Millions of yen) 361,599 (16,789) 10,474 854,098 751,823\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,553,391 2,479,718 2,438,807 3,236,038 3,928,513\nTotal assets (Millions of yen) 5,258,500 5,261,174 5,279,653 6,503,986 7,627,120\nEquity per share: attributable to owners\nof the parent (Yen) 8,223.82 7,986.59 7,854.87 10,422.64 12,653.04\nEarnings per share－basic (Yen) 541.67 491.97 469.85 440.28 580.73\nEarnings per share－diluted (Yen) 541.67 491.97 469.85 440.28 580.73\nRatio of equity attributable to owners\nof the parent to total assets (%) 48.56 47.13 46.19 49.75 51.51\nReturn on equity attributable to owners\nof the parent (%) 7.02 6.07 5.93 4.82 5.03\nPrice-to-earnings ratio (Times) 11.89 11.28 11.02 22.39 14.58\nNet cash provided by operating activities\n(Millions of yen) 268,567 270,306 313,199 382,386 321,085\nNet cash used in investing activities\n(Millions of yen) (340,324) (395,000) (182,598) (404,164) (229,805)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 153,303 40,467 (7,094) (105,477) (92,114)\nCash and cash equivalents at end of period\n(Millions of yen) 323,830 239,140 358,144 238,248 247,085\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_revenue_growth",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 2705183m, prior year: 2118302m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2018 FY2019 FY2020 FY2021 FY2022\nNet sales (Millions of yen) 2,003,973 2,214,946 2,171,355 2,118,302 2,705,183\nOperating profit (Millions of yen) 147,445 134,684 128,233 118,159 159,066\nProfit (Millions of yen) 173,816 159,778 150,187 141,435 185,350\nProfit: attributable to owners of the parent\n(Millions of yen) 168,180 152,748 145,881 136,700 180,306\nComprehensive income (Millions of yen) 361,599 (16,789) 10,474 854,098 751,823\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,553,391 2,479,718 2,438,807 3,236,038 3,928,513\nTotal assets (Millions of yen) 5,258,500 5,261,174 5,279,653 6,503,986 7,627,120\nEquity per share: attributable to owners\nof the parent (Yen) 8,223.82 7,986.59 7,854.87 10,422.64 12,653.04\nEarnings per share－basic (Yen) 541.67 491.97 469.85 440.28 580.73\nEarnings per share－diluted (Yen) 541.67 491.97 469.85 440.28 580.73\nRatio of equity attributable to owners\nof the parent to total assets (%) 48.56 47.13 46.19 49.75 51.51\nReturn on equity attributable to owners\nof the parent (%) 7.02 6.07 5.93 4.82 5.03\nPrice-to-earnings ratio (Times) 11.89 11.28 11.02 22.39 14.58\nNet cash provided by operating activities\n(Millions of yen) 268,567 270,306 313,199 382,386 321,085\nNet cash used in investing activities\n(Millions of yen) (340,324) (395,000) (182,598) (404,164) (229,805)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 153,303 40,467 (7,094) (105,477) (92,114)\nCash and cash equivalents at end of period\n(Millions of yen) 323,830 239,140 358,144 238,248 247,085\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n61,152\n[11,705]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000419_segments",
      "report_id": "ID_000419",
      "company_name": "Toyota",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automobile, Materials Handling Equipment, Textile Machinery",
      "golden_context": "Page 31:\n\n4. Segment Information\nThe operating segments reported below are the segments of Toyota Industries for which separate financial information\nis available and are subject to evaluate regularly by executive management in deciding how to allocate resources and\nin assessing performance.\nThe reporting segments of Toyota Industries consist of Automobile, Materials Handling Equipment and Textile\nMachinery. The similarity of products and services are taken into account for the separation. Within the Automobile\nSegment, vehicles, engines, car air-conditioning compressors and others are included due to the similarity of their\neconomic characteristics such as net sales. The main products and services of each segment are as follows.\nSegment Main products and services of each segment\nAutomobile Vehicles, diesel and gasoline engines, foundry parts for engines, car air-conditioning\ncompressors, electronics components\nMaterials Handling\nEquipment\nLift trucks, warehouse trucks, automated storage and retrieval systems, aerial work\nplatforms, logistics solutions, sales financing business\nTextile Machinery Weaving machinery, spinning machinery, instruments for yarn testing and cotton\nclassing\nThe accounting method of reporting segment information is based on \"3. Significant Accounting Policies\".\nSegment profit is based on operating profit.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_cash_flow",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 194'964m, \ninvesting: -427'642m, \nfinancing: 183'690m",
      "golden_context": "Page 18:\n\n[Consolidated Statement of Cash Flows]\n(Millions of yen)\nNotes\nFY2022\n(April 1, 2021\n- March 31, 2022)\nFY2023\n(April 1, 2022\n- March 31, 2023)\nCash flows from operating activities:\nProfit before income taxes 246,123 262,967\nDepreciation and amortization 223,737 257,762\nImpairment losses 2,368 2,634\nInterest and dividends income (84,203) (95,424)\nInterest expenses 4,868 10,111\nShare of (profit) loss of investments accounted\nfor by the equity method (4,397) (3,311)\n(Increase) decrease in inventories (110,613) (70,207)\n(Increase) decrease in trade receivables and\nother receivables (81,246) (225,489)\nIncrease (decrease) in trade payables and other payables 93,537 29,619\nOthers 12,496 7,241\nSubtotal 302,671 175,904\nInterest and dividends income received 84,921 95,920\nInterest expenses paid (4,999) (9,919)\nIncome taxes paid (61,507) (66,940)\nNet cash provided by operating activities 321,085 194,964\nCash flows from investing activities:\nPayments for purchases of property, plant and equipment (237,371) Proceeds from sales of property, plant and equipment 16,415 (289,974)\n19,660\nPayments for purchases of investment securities (1,406) (1,624)\nProceeds from sales of investment securities 651 541\nPayments for acquisition of subsidiaries' stock\nresulting in change in scope of consolidation (14,905) (36,486)\nPayments for bank deposits (935,461) (919,474)\nProceeds from withdrawals of bank deposits 961,239 831,815\nPayments for transfer of businesses (529) (2,104)\nOthers (18,438) (29,995)\nNet cash used in investing activities (229,805) (427,642)\nCash flows from financing activities:\nNet increase (decrease) in short-term loans\npayable (within three months) 31 26,622 59,426\nProceeds from short-term loans payable\n(over three months) 31 136,079 82,054\nRepayments of short-term loans payable\n(over three months) 31 (112,363) (158,332)\nNet increase (decrease) in commercial paper 31 40,590 112,121\nProceeds from long-term loans payable 31 233,551 354,876\nRepayments of long-term loans payable 31 (180,482) (130,782)\nProceeds from issuance of corporate bonds 31 13,205 103,314\nRepayments of corporate bonds 31 (184,066) (165,036)\nRepayments of lease obligations 31 (16,453) (40,910)\nPayments for repurchase of treasury stock (18) (5)\nCash dividends paid 19 (49,676) (55,886)\nCash dividends paid to non-controlling interests (2,260) (2,674)\nOthers 3,156 25,524\n(92,114) Net cash provided by (used in) financing activities 183,690\nTranslation adjustments of cash and cash equivalents 9,671 4,632\nNet increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period 8,837 238,248 (44,353)\n247,085\nCash and cash equivalents at end of period 5 247,085 202,731\nThe accompanying notes are an integral part of these financial statements.\n― 18 ―\nNotes to Consolidated Financial Statements\n1. Reporting Entity\nToyota Industries Corporation (hereinafter, \"the Company\") is a company domiciled in Japan. The accompanying\nconsolidated financial statements comprise Toyota Industries and the Company's interests in affiliates. The businesses\nof the Toyota Industries include the manufacture and sales of automobiles, materials handling equipment, textile\nmachinery and others. The content of each business is detailed in \"4. Segment Information\".\n2. Basis of Presentation\n(1) Conformance of consolidated financial statements with IFRS\nAs the Company meets the requirements of \"Specified Company Applying Designated International Financial Reporting\nStandards\" pursuant to Article 1-2 of the Ordinance on Consolidated Financial Statements, the consolidated financial\nstatements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS)\nas permitted by the provision of Article 93 of the Ordinance.\nThe consolidated financial statements have been ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_company_type",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, but \"Corporation\" is probably the correct answer. \"no answer found\" is also fine.",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2019 FY2020 FY2021 FY2022 FY2023\nNet sales (Millions of yen) 2,214,946 2,171,355 2,118,302 2,705,183 3,379,891\nOperating profit (Millions of yen) 134,684 128,233 118,159 159,066 169,904\nProfit (Millions of yen) 159,778 150,187 141,435 185,350 198,716\nProfit: attributable to owners of the parent\n(Millions of yen) 152,748 145,881 136,700 180,306 192,861\nComprehensive income (Millions of yen) (16,789) 10,474 854,098 751,823 (26,348)\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,479,718 2,438,807 3,236,038 3,928,513 3,837,416\nTotal assets (Millions of yen) 5,261,174 5,279,653 6,503,986 7,627,120 7,821,185\nEquity per share: attributable to owners\nof the parent (Yen) 7,986.59 7,854.87 10,422.64 12,653.04 12,359.66\nEarnings per share－basic (Yen) 491.97 469.85 440.28 580.73 621.17\nEarnings per share－diluted (Yen) 491.97 469.85 440.28 580.73 621.17\nRatio of equity attributable to owners\nof the parent to total assets (%) 47.13 46.19 49.75 51.51 49.06\nReturn on equity attributable to owners\nof the parent (%) 6.07 5.93 4.82 5.03 4.97\nPrice-to-earnings ratio (Times) 11.28 11.02 22.39 14.58 11.83\nNet cash provided by operating activities\n(Millions of yen) 270,306 313,199 382,386 321,085 194,964\nNet cash used in investing activities\n(Millions of yen) (395,000) (182,598) (404,164) (229,805) (427,642)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 40,467 (7,094) (105,477) (92,114) 183,690\nCash and cash equivalents at end of period\n(Millions of yen) 239,140 358,144 238,248 247,085 202,731\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_key_financials",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 3379891m, operating profit: 169904m, profit: 198716, EPS basic: 621.17",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2019 FY2020 FY2021 FY2022 FY2023\nNet sales (Millions of yen) 2,214,946 2,171,355 2,118,302 2,705,183 3,379,891\nOperating profit (Millions of yen) 134,684 128,233 118,159 159,066 169,904\nProfit (Millions of yen) 159,778 150,187 141,435 185,350 198,716\nProfit: attributable to owners of the parent\n(Millions of yen) 152,748 145,881 136,700 180,306 192,861\nComprehensive income (Millions of yen) (16,789) 10,474 854,098 751,823 (26,348)\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,479,718 2,438,807 3,236,038 3,928,513 3,837,416\nTotal assets (Millions of yen) 5,261,174 5,279,653 6,503,986 7,627,120 7,821,185\nEquity per share: attributable to owners\nof the parent (Yen) 7,986.59 7,854.87 10,422.64 12,653.04 12,359.66\nEarnings per share－basic (Yen) 491.97 469.85 440.28 580.73 621.17\nEarnings per share－diluted (Yen) 491.97 469.85 440.28 580.73 621.17\nRatio of equity attributable to owners\nof the parent to total assets (%) 47.13 46.19 49.75 51.51 49.06\nReturn on equity attributable to owners\nof the parent (%) 6.07 5.93 4.82 5.03 4.97\nPrice-to-earnings ratio (Times) 11.28 11.02 22.39 14.58 11.83\nNet cash provided by operating activities\n(Millions of yen) 270,306 313,199 382,386 321,085 194,964\nNet cash used in investing activities\n(Millions of yen) (395,000) (182,598) (404,164) (229,805) (427,642)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 40,467 (7,094) (105,477) (92,114) 183,690\nCash and cash equivalents at end of period\n(Millions of yen) 239,140 358,144 238,248 247,085 202,731\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_revenue",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "3379891m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2019 FY2020 FY2021 FY2022 FY2023\nNet sales (Millions of yen) 2,214,946 2,171,355 2,118,302 2,705,183 3,379,891\nOperating profit (Millions of yen) 134,684 128,233 118,159 159,066 169,904\nProfit (Millions of yen) 159,778 150,187 141,435 185,350 198,716\nProfit: attributable to owners of the parent\n(Millions of yen) 152,748 145,881 136,700 180,306 192,861\nComprehensive income (Millions of yen) (16,789) 10,474 854,098 751,823 (26,348)\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,479,718 2,438,807 3,236,038 3,928,513 3,837,416\nTotal assets (Millions of yen) 5,261,174 5,279,653 6,503,986 7,627,120 7,821,185\nEquity per share: attributable to owners\nof the parent (Yen) 7,986.59 7,854.87 10,422.64 12,653.04 12,359.66\nEarnings per share－basic (Yen) 491.97 469.85 440.28 580.73 621.17\nEarnings per share－diluted (Yen) 491.97 469.85 440.28 580.73 621.17\nRatio of equity attributable to owners\nof the parent to total assets (%) 47.13 46.19 49.75 51.51 49.06\nReturn on equity attributable to owners\nof the parent (%) 6.07 5.93 4.82 5.03 4.97\nPrice-to-earnings ratio (Times) 11.28 11.02 22.39 14.58 11.83\nNet cash provided by operating activities\n(Millions of yen) 270,306 313,199 382,386 321,085 194,964\nNet cash used in investing activities\n(Millions of yen) (395,000) (182,598) (404,164) (229,805) (427,642)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 40,467 (7,094) (105,477) (92,114) 183,690\nCash and cash equivalents at end of period\n(Millions of yen) 239,140 358,144 238,248 247,085 202,731\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_revenue_growth",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "3379891m, prior year: 2705183m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2019 FY2020 FY2021 FY2022 FY2023\nNet sales (Millions of yen) 2,214,946 2,171,355 2,118,302 2,705,183 3,379,891\nOperating profit (Millions of yen) 134,684 128,233 118,159 159,066 169,904\nProfit (Millions of yen) 159,778 150,187 141,435 185,350 198,716\nProfit: attributable to owners of the parent\n(Millions of yen) 152,748 145,881 136,700 180,306 192,861\nComprehensive income (Millions of yen) (16,789) 10,474 854,098 751,823 (26,348)\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,479,718 2,438,807 3,236,038 3,928,513 3,837,416\nTotal assets (Millions of yen) 5,261,174 5,279,653 6,503,986 7,627,120 7,821,185\nEquity per share: attributable to owners\nof the parent (Yen) 7,986.59 7,854.87 10,422.64 12,653.04 12,359.66\nEarnings per share－basic (Yen) 491.97 469.85 440.28 580.73 621.17\nEarnings per share－diluted (Yen) 491.97 469.85 440.28 580.73 621.17\nRatio of equity attributable to owners\nof the parent to total assets (%) 47.13 46.19 49.75 51.51 49.06\nReturn on equity attributable to owners\nof the parent (%) 6.07 5.93 4.82 5.03 4.97\nPrice-to-earnings ratio (Times) 11.28 11.02 22.39 14.58 11.83\nNet cash provided by operating activities\n(Millions of yen) 270,306 313,199 382,386 321,085 194,964\nNet cash used in investing activities\n(Millions of yen) (395,000) (182,598) (404,164) (229,805) (427,642)\nNet cash provided by (used in) financing\nactivities (Millions of yen) 40,467 (7,094) (105,477) (92,114) 183,690\nCash and cash equivalents at end of period\n(Millions of yen) 239,140 358,144 238,248 247,085 202,731\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n64,641\n[12,625]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting\nStandards (\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatch",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000420_segments",
      "report_id": "ID_000420",
      "company_name": "Toyota",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automobile, Materials Handling Equipment, Textile Machinery",
      "golden_context": "Page 31:\n\n4. Segment Information\nThe operating segments reported below are the segments of Toyota Industries for which separate financial information\nis available and are subject to evaluate regularly by executive management in deciding how to allocate resources and\nin assessing performance.\nThe reporting segments of Toyota Industries consist of Automobile, Materials Handling Equipment and Textile\nMachinery. The similarity of products and services are taken into account for the separation. Within the Automobile\nSegment, vehicles, engines, car air-conditioning compressors and others are included due to the similarity of their\neconomic characteristics such as net sales. The main products and services of each segment are as follows.\nSegment Main products and services of each segment\nAutomobile Vehicles, diesel and gasoline engines, foundry parts for engines, car air-conditioning\ncompressors, electronics components, batteries\nMaterials Handling\nEquipment\nLift trucks, warehouse trucks, automated storage and retrieval systems, aerial work\nplatforms, logistics solutions, sales financing business\nTextile Machinery Weaving machinery, spinning machinery, instruments for yarn testing and cotton\nclassing\nThe accounting method of reporting segment information is based on \"3. Material Accounting Policies\".\nSegment profit is based on operating profit.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_cash_flow",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 443590m, investing: 47903m, financing: -209491m",
      "golden_context": "Page 18-19:\n\n[Consolidated Statement of Cash Flows]\n(Millions of yen)\nNotes\nFY2023\n(April 1, 2022\n- March 31, 2023)\nFY2024\n(April 1, 2023\n- March 31, 2024)\nCash flows from operating activities:\nProfit before income taxes 262,967 309,190\nDepreciation and amortization 257,762 284,939\nImpairment losses 2,634 5,977\nInterest and dividends income (95,424) (121,757)\nInterest expenses 10,111 16,988\nShare of (profit) loss of investments accounted\nfor by the equity method (3,311) (3,276)\n(Increase) decrease in inventories (70,207) (28,391)\n(Increase) decrease in trade receivables and\nother receivables (225,489) (82,985)\nIncrease (decrease) in trade payables and other payables 29,619 7,692\nOthers 7,241 30,083\nSubtotal 175,904 418,459\nInterest and dividends income received 95,920 122,212\nInterest expenses paid (9,919) (18,107)\nIncome taxes paid (66,940) (78,974)\n443,590\n194,964 Net cash provided by (used in) operating activities Cash flows from investing activities:\nPayments for purchases of property, plant and equipment (289,974) Proceeds from sales of property, plant and equipment 19,660 (348,926)\n28,021\nPayments for purchases of investment securities (1,624) (9,170)\nProceeds from sales of investment securities 541 241,530\nPayments for acquisition of subsidiaries' stock\nresulting in change in scope of consolidation (36,486) (7,924)\nPayments for bank deposits (919,474) (807,285)\nProceeds from withdrawals of bank deposits 831,815 995,054\nPayments for transfer of businesses (2,104) (6,290)\nOthers (29,995) (37,105)\nNet cash provided by (used in) investing activities (427,642) 47,903\nCash flows from financing activities:\nNet increase (decrease) in short-term loans\npayable (within three months) 31 59,426 (77,738)\nProceeds from short-term loans payable\n(over three months) 31 82,054 64,482\nRepayments of short-term loans payable\n(over three months) 31 (158,332) (33,130)\nNet increase (decrease) in commercial paper 31 112,121 (62,884)\nProceeds from long-term loans payable 31 354,876 165,533\nRepayments of long-term loans payable 31 (130,782) (167,058)\nProceeds from issuance of corporate bonds 31 103,314 142,470\nRepayments of corporate bonds 31 (165,036) (149,183)\nRepayments of lease liabilities 31 (40,910) (44,852)\nPayments for repurchase of treasury stock (5) (24)\nCash dividends paid 19 (55,886) (62,095)\nCash dividends paid to non-controlling interests (2,674) (3,167)\nOthers 25,524 18,156\n183,690 (209,491)\nNet cash provided by (used in) financing activities Translation adjustments of cash and cash equivalents 4,632 12,114\nNet increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period (44,353) 247,085 294,118\n202,731\nCash and cash equivalents at end of period 5 202,731 496,849\nThe accompanying notes are an integral part of these financial statements.\n― 17 ―\nNotes to Consolidated Financial Statements\n1. Reporting Entity\nToyota Industries Corporation (hereinafter, \"the Company\") is a company domiciled in Japan. The accompanying\nconsolidated financial statements comprise Toyota Industries and the Company's interests in affiliates. The businesses of\nthe Toyota Industries include the manufacture and sales of automobiles, materials handling equipment, textile machinery\nand others. The content of each business is detailed in \"4. Segment Information\".\n2. Basis of Presentation\n(1) Conformance of consolidated financial statements with IFRS\nAs the Company meets the requirements of \"Specified Company Applying Designated International Financial Reporting\nStandards\" pursuant to Article 1-2 of the Ordinance on Consolidated Financial Statements, the consolidated financial\nstatements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS)\nas permitted by the provision of Article 93 of the Ordinance.\nThe consolidated financial statements have been approved by Koichi Ito, president of the Company, on August 1, 2024.\n(2) Basis of measurement\nAs detailed in \"3. Material Accounting Policies\", Toyota Industries' consolidated financial statements have been prepared\non a historical cost basis, except for specific financial instruments and others measured at fair value.\n(3) Functional currency and presentation currency\nThe financial statements of each of Toyota Industries' entities are measured using the currency of the primary economic\nenvironment in which the entity operates (\"functional currency\"). These consolidated financial statements are presented\nin Japanese yen, which is the Company's functional currency, rounded down to the nearest million yen.\n(4) Use of estimates and judgments\nIn the preparation of the IFRS-compliant consolidated financial statements, the Company is required to make a number\nof judgments, estimates and assumptions that could have an impact on the application of accounting policies, reporting\nof revenues and expenses as well as assets and liabilities. Actual results, however, could differ from those estimates.\nEstimates and assumptions are continually reviewed. The effect of a changes in accounting estimates is recognized in\nthe reporting period in which the change wa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_company_type",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, but \"Corporation\" is probably the correct answer. \"no answer found\" is also fine.",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2020 FY2021 FY2022 FY2023 FY2024\nNet sales (Millions of yen) 2,171,355 2,118,302 2,705,183 3,379,891 3,833,205\nOperating profit (Millions of yen) 128,233 118,159 159,066 169,904 200,404\nProfit (Millions of yen) 150,187 141,435 185,350 198,716 236,854\nProfit: attributable to owners of the parent\n(Millions of yen) 145,881 136,700 180,306 192,861 228,778\nComprehensive income (Millions of yen) 10,474 854,098 751,823 (26,348) 2,285,895\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,438,807 3,236,038 3,928,513 3,837,416 6,045,759\nTotal assets (Millions of yen) 5,279,653 6,503,986 7,627,120 7,821,185 11,078,462\nEquity per share: attributable to owners\nof the parent (Yen) 7,854.87 10,422.64 12,653.04 12,359.66 19,472.48\nEarnings per share－basic (Yen) 469.85 440.28 580.73 621.17 736.86\nEarnings per share－diluted (Yen) 469.85 440.28 580.73 621.17 736.86\nRatio of equity attributable to owners\nof the parent to total assets (%) 46.19 49.75 51.51 49.06 54.57\nReturn on equity attributable to owners\nof the parent (%) 5.93 4.82 5.03 4.97 4.63\nPrice-to-earnings ratio (Times) 11.02 22.39 14.58 11.83 21.24\nNet cash provided by (used in) operating\nactivities (Millions of yen) 313,199 382,386 321,085 194,964 443,590\nNet cash provided by (used in) investing\nactivities (Millions of yen) (182,598) (404,164) (229,805) (427,642) 47,903\nNet cash provided by (used in) financing\nactivities (Millions of yen) (7,094) (105,477) (92,114) 183,690 (209,491)\nCash and cash equivalents at end of period\n(Millions of yen) 358,144 238,248 247,085 202,731 496,849\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n77,824\n[15,146]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting Standards\n(\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_key_financials",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 3833205m, operating profit: 200404m, profit: 236854, EPS basic: 736.86",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2020 FY2021 FY2022 FY2023 FY2024\nNet sales (Millions of yen) 2,171,355 2,118,302 2,705,183 3,379,891 3,833,205\nOperating profit (Millions of yen) 128,233 118,159 159,066 169,904 200,404\nProfit (Millions of yen) 150,187 141,435 185,350 198,716 236,854\nProfit: attributable to owners of the parent\n(Millions of yen) 145,881 136,700 180,306 192,861 228,778\nComprehensive income (Millions of yen) 10,474 854,098 751,823 (26,348) 2,285,895\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,438,807 3,236,038 3,928,513 3,837,416 6,045,759\nTotal assets (Millions of yen) 5,279,653 6,503,986 7,627,120 7,821,185 11,078,462\nEquity per share: attributable to owners\nof the parent (Yen) 7,854.87 10,422.64 12,653.04 12,359.66 19,472.48\nEarnings per share－basic (Yen) 469.85 440.28 580.73 621.17 736.86\nEarnings per share－diluted (Yen) 469.85 440.28 580.73 621.17 736.86\nRatio of equity attributable to owners\nof the parent to total assets (%) 46.19 49.75 51.51 49.06 54.57\nReturn on equity attributable to owners\nof the parent (%) 5.93 4.82 5.03 4.97 4.63\nPrice-to-earnings ratio (Times) 11.02 22.39 14.58 11.83 21.24\nNet cash provided by (used in) operating\nactivities (Millions of yen) 313,199 382,386 321,085 194,964 443,590\nNet cash provided by (used in) investing\nactivities (Millions of yen) (182,598) (404,164) (229,805) (427,642) 47,903\nNet cash provided by (used in) financing\nactivities (Millions of yen) (7,094) (105,477) (92,114) 183,690 (209,491)\nCash and cash equivalents at end of period\n(Millions of yen) 358,144 238,248 247,085 202,731 496,849\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n77,824\n[15,146]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting Standards\n(\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_revenue",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales: 3833205m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2020 FY2021 FY2022 FY2023 FY2024\nNet sales (Millions of yen) 2,171,355 2,118,302 2,705,183 3,379,891 3,833,205\nOperating profit (Millions of yen) 128,233 118,159 159,066 169,904 200,404\nProfit (Millions of yen) 150,187 141,435 185,350 198,716 236,854\nProfit: attributable to owners of the parent\n(Millions of yen) 145,881 136,700 180,306 192,861 228,778\nComprehensive income (Millions of yen) 10,474 854,098 751,823 (26,348) 2,285,895\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,438,807 3,236,038 3,928,513 3,837,416 6,045,759\nTotal assets (Millions of yen) 5,279,653 6,503,986 7,627,120 7,821,185 11,078,462\nEquity per share: attributable to owners\nof the parent (Yen) 7,854.87 10,422.64 12,653.04 12,359.66 19,472.48\nEarnings per share－basic (Yen) 469.85 440.28 580.73 621.17 736.86\nEarnings per share－diluted (Yen) 469.85 440.28 580.73 621.17 736.86\nRatio of equity attributable to owners\nof the parent to total assets (%) 46.19 49.75 51.51 49.06 54.57\nReturn on equity attributable to owners\nof the parent (%) 5.93 4.82 5.03 4.97 4.63\nPrice-to-earnings ratio (Times) 11.02 22.39 14.58 11.83 21.24\nNet cash provided by (used in) operating\nactivities (Millions of yen) 313,199 382,386 321,085 194,964 443,590\nNet cash provided by (used in) investing\nactivities (Millions of yen) (182,598) (404,164) (229,805) (427,642) 47,903\nNet cash provided by (used in) financing\nactivities (Millions of yen) (7,094) (105,477) (92,114) 183,690 (209,491)\nCash and cash equivalents at end of period\n(Millions of yen) 358,144 238,248 247,085 202,731 496,849\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n77,824\n[15,146]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting Standards\n(\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_revenue_growth",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales: 3833205m, prior years: 3379891m",
      "golden_context": "Page 2:\n\nFinancial Summary\nToyota Industries Corporation and its consolidated subsidiaries\n< IFRS >\nFY2020 FY2021 FY2022 FY2023 FY2024\nNet sales (Millions of yen) 2,171,355 2,118,302 2,705,183 3,379,891 3,833,205\nOperating profit (Millions of yen) 128,233 118,159 159,066 169,904 200,404\nProfit (Millions of yen) 150,187 141,435 185,350 198,716 236,854\nProfit: attributable to owners of the parent\n(Millions of yen) 145,881 136,700 180,306 192,861 228,778\nComprehensive income (Millions of yen) 10,474 854,098 751,823 (26,348) 2,285,895\nShare of equity attributable to owners\nof the parent (Millions of yen) 2,438,807 3,236,038 3,928,513 3,837,416 6,045,759\nTotal assets (Millions of yen) 5,279,653 6,503,986 7,627,120 7,821,185 11,078,462\nEquity per share: attributable to owners\nof the parent (Yen) 7,854.87 10,422.64 12,653.04 12,359.66 19,472.48\nEarnings per share－basic (Yen) 469.85 440.28 580.73 621.17 736.86\nEarnings per share－diluted (Yen) 469.85 440.28 580.73 621.17 736.86\nRatio of equity attributable to owners\nof the parent to total assets (%) 46.19 49.75 51.51 49.06 54.57\nReturn on equity attributable to owners\nof the parent (%) 5.93 4.82 5.03 4.97 4.63\nPrice-to-earnings ratio (Times) 11.02 22.39 14.58 11.83 21.24\nNet cash provided by (used in) operating\nactivities (Millions of yen) 313,199 382,386 321,085 194,964 443,590\nNet cash provided by (used in) investing\nactivities (Millions of yen) (182,598) (404,164) (229,805) (427,642) 47,903\nNet cash provided by (used in) financing\nactivities (Millions of yen) (7,094) (105,477) (92,114) 183,690 (209,491)\nCash and cash equivalents at end of period\n(Millions of yen) 358,144 238,248 247,085 202,731 496,849\nNumber of employees\n[Average number of part-time employees,\nnot included in number of employees above]\n66,478\n[12,788]\n66,947\n[11,396]\n71,784\n[12,923]\n74,887\n[14,358]\n77,824\n[15,146]\n(Notes) 1. Toyota Industries Corporation and its subsidiaries have adopted International Financial Reporting Standards\n(\"IFRS\") for the consolidated financial statements of the annual report.\n2. Diluted earnings per share is the same amount with basic earnings per share because there are no dilutive\nshares.\n3. Number of employees is the number of workers (excluding people dispatched from the Group to outside the\nGroup, but including people dispatched from outside the Group to the Group).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000421_segments",
      "report_id": "ID_000421",
      "company_name": "Toyota",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Automobile, Materials Handling Equipment, Textile Machinery",
      "golden_context": "Page 31:\n\n4. Segment Information\nThe operating segments reported below are the segments of Toyota Industries for which separate financial information\nis available and are subject to evaluate regularly by executive management in deciding how to allocate resources and in\nassessing performance.\nThe reporting segments of Toyota Industries consist of Automobile, Materials Handling Equipment and Textile Machinery.\nThe similarity of products and services are taken into account for the separation. Within the Automobile Segment,\nvehicles, engines, car air-conditioning compressors and others are included due to the similarity of their economic\ncharacteristics such as net sales. The main products and services of each segment are as follows.\nSegment Main products and services of each segment\nAutomobile Vehicles, diesel and gasoline engines, foundry parts for engines, car air-conditioning\ncompressors, electronics components, batteries\nMaterials Handling\nEquipment\nLift trucks, warehouse trucks, automated storage and retrieval systems, aerial work\nplatforms, logistics solutions, sales financing business\nTextile Machinery Weaving machinery, spinning machinery, instruments for yarn testing and cotton classing\nThe accounting method of reporting segment information is based on \"3. Material Accounting Policies\".\nSegment profit is based on operating profit.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_cash_flow",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -41537m, investing: -101323m, financing: 168291m",
      "golden_context": "Page 47:\n\nConsolidated statement of cash flows\nSubtotal 32,212 (27,280)\nInterest and dividends received 9,820 6,247\nInterest paid (3,954) (5,170)\nPayments related to fuel consumption test (1,577) (1,237)\nIncome taxes paid (17,715) (14,096)\nFor the fiscal year\nended March 31,\n2020\n(Millions of yen)\nFor the fiscal year\nended March 31,\n2021\nCash flows from operating activities\nProfit (loss) before income taxes 3,801 (298,289)\nDepreciation 74,789 65,917\nImpairment losses 2,292 107,747\nLoss (gain) on contribution of securities to retirement benefit trust (9,376)—\nLoss on COVID-19 — 2,489\nBusiness restructuring expenses — 70,286\nIncrease (decrease) in allowance for doubtful accounts (621) (1,051)\nIncrease (decrease) in retirement benefit liability 288 2,263\nInterest and dividend income (5,887) (2,443)\nInterest expenses 3,889 5,375\nForeign exchange losses (gains) 3,366 1,556\nShare of loss (profit) of entities accounted for using equity method 4,263 9,122\nGain on sales of investments in capital of subsidiaries and associates — (1,543)\nLoss (gain) on sales and retirement of non-current assets (4,354) 1,724\nDecrease (increase) in trade receivables (19,268) (7,579)\nDecrease (increase) in finance receivables 26,202 21,121\nDecrease (increase) in inventories (34,340) 44,160\nIncrease (decrease) in trade payables (49,759) (20,436)\nOther, net 36,926 (27,703)\nNet cash provided by (used in) operating activities 18,786 (41,537)\nCash flows from investing activities\nDecrease (increase) in time deposits 11,391 (11,071)\nPurchase of property, plant and equipment (111,549) (79,472)\nProceeds from sales of property, plant and equipment 13,004 2,128\nPurchase of intangible assets (17,830) (12,388)\nProceeds from sales of investment securities 457 263\nDecrease (increase) in short-term loans receivable (331) (2)\nLong-term loan advances (1,147)—\nProceeds from collection of long-term loans receivable 766 838\n_x0007_ Proceeds from sales of shares of subsidiaries resulting in change in\nscope of consolidation 3,739—\nOther, net (4,212) (1,618)\nNet cash provided by (used in) investing activities (105,712) (101,323)\nCash flows from financing activities\nIncrease (decrease) in short-term borrowings 13,624 (48,331)\nIncrease (decrease) in commercial papers 7,500 (25,800)\nProceeds from long-term borrowings 81,803 320,210\nRepayments of long-term borrowings (60,373) (70,986)\nDividends paid (29,738) (35)\nDividends paid to non-controlling interests (393) (2,864)\n_x0007_ Purchase of shares of subsidiaries not resulting in change in scope\n— (329)\nof consolidation\nOther, net (2,797) (3,572)\n9,624 (18,460) 168,291\n19,473\nNet cash provided by (used in) financing activities Effect of exchange rate change on cash and cash equivalents Net increase (decrease) in cash and cash equivalents (95,762) 44,903\nCash and cash equivalents at beginning of period 489,456 399,588\nIncrease (decrease) in cash and cash equivalents resulting from change\nin scope of consolidation 5,894 126\nCash and cash equivalents at end of period 399,588 444,619\nIntegrated Report 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_company_type",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, but \"Corporation\" is probably the correct answer. \"no answer found\" is also fine.",
      "golden_context": "Page 2:\n\n \n24\nManagement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n2\nSystem for Disclosing Information\nExtremely high High\nStakeholders’ Concern\nThis\nReport\nl Integrated Report\n• Financial and non-financial information with a\ndirect connection to the Company’ s\nmanagement strategy\n• Focus on information that is integral and concise\nl Sustainability Report\n• Sustainability (ESG) information\n• Focus on information that is comprehensive\nand continuous\n_x0097_ Sustainability Report\nhttps: //www.mitsubishi-motors.com/en/sustainability/report/\nHigh\nImpact on Management Extremely high\n_x0097_ Global Website: “Investors”\nhttps: //www.mitsubishi-motors.com/en/investors/\nForward-looking Statements\nCurrent plans, strategies, beliefs, performance outlook and other statements of Mitsubishi Motors Corporation (sometimes\nreferred to as we, the Company, Mitsubishi Motors or MMC) in this Integrated Report that are not historical facts are forward-\nlooking statements. These forward-looking statements are based on management’s beliefs and assumptions drawn from\ncurrent expectations, estimates, forecasts and projections. These expectations, estimates, forecasts and projections are\nsubject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those\nindicated in any forward-looking statement. Mitsubishi Motors Corporation, therefore, cautions readers not to place undue\nreliance on forward-looking statements. Furthermore, any forward-looking statements are subject to change as a result of\nnew information, future events or other developments.\nMITSUBISHI MOTORS CORPORATION",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_key_financials",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1455.5bn, operating profit: -95.3bn, profit attributable to owners of the parent: -312.3bn",
      "golden_context": "Page 7:\n\nprevious year, to 801,000 units, and net sales declined\n¥814.8 billion (36%), to ¥1,455.5 billion. Amid these\ncircumstances, we formulated a medium-term business\nplan called “Small but Beautiful.” In the aim of drastically\nimproving profitability, we pursued structural reforms\nbased on a policy of selection and concentration.\nWe succeeded in lowering fixed costs more\nthan expected, meeting our goal to reduce these\ncosts by more than 20% over a two-year period a\nyear ahead of schedule. Owing to our successes in\nlowering overhead and fixed costs, as well as with\nvarious structural reform activities, we narrowed\nthe operating loss to ¥95.3 billion, compared with\nthe ¥100.0 billion loss we had forecast in February\n2021. Earnings momentum bottomed out in the first\nquarter of fiscal 2020 and is recovering steadily.\nInitiatives in Fiscal 2021\nIn fiscal 2021, we will continue making a steady\neffort to implement our medium-term business\nplan, “Small but Beautiful,” to further strengthen our\nmanagement base.\nWe expect a series of measures we put in place in\nfiscal 2020 to lower fixed costs to bear fruit through-\nout fiscal 2021. At the same time, we need to make\ninvestments for growth, such as advertising expens-\nOperating Performance and Forecast\n(Billions of yen, thousands of units)\nFY2020 (Actual) FY2021 (Forecast)\nSales volume (retail) 801 967\nNet sales 1,455.5 2,080.0\nOperating profit (loss) (95.3) 40.0\nOrdinary profit (loss) (105.2) 36.0\nProfit (loss) attributable\nto owners of the parent (312.3) 15.0\nCapital Expenditures\n(Billions of yen)\n160\n120\n80\n40\n0\n69.0\n58.1\n137.7\n103.9\n99.9\n90.0\n76.4\n(FY)\n2015\n2016\n2017\n2018\n2019\n2020\n2",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_revenue",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "1455476m",
      "golden_context": "Page 44:\n\nConsolidated statement of income\n(Millions of yen)\nFor the fiscal year\nended March 31,\n2020\nFor the fiscal year\nended March 31,\n2021\nNet sales 2,270,276 1,455,476\nCost of sales 1,932,762 1,299,021\nGross profit Selling, general and administrative expenses\n337,514 156,454\nAdvertising and promotion expenses 48,407 34,891\nFreight costs Provision of allowance for doubtful accounts 51,058 484 29,112\n624\nRemuneration, salaries and allowances for directors (and other officers) 76,886 68,387\nRetirement benefit expenses 3,987 4,959\nDepreciation 18,505 14,898\nResearch and development expenses 73,826 55,990\nOther 51,570 42,912\nTotal selling, general and administrative expenses 324,726 251,776\nOperating profit (loss) 12,788 (95,321)\nNon-operating income\nInterest income 5,351 1,846\nDividend income 536 596\nForeign exchange gains — 3,784\nSubsidies for employment adjustment — 6,048\nOther 1,821 2,178\nTotal non-operating income 7,709 14,454\nNon-operating expenses\nInterest expenses 3,889 5,375\nForeign exchange losses 11,277—\nLitigation expenses 1,632 2,581\nShare of loss of entities accounted for using equity method 4,263 9,122\nOther 3,276 7,255\nTotal non-operating expenses Ordinary profit (loss) 24,341 (3,843) 24,335\n(105,203)\nExtraordinary income\nGain on sales of non-current assets 8,704 1,548\nGain on sales of investment securities 199 41\nGain on sales of shares of subsidiaries 413—\nGain on sales of investments in capital of subsidiaries and associates — 1,543\nGain on contribution of securities to retirement benefit trust Other 98 488\n9,376—\nTotal extraordinary income 18,793 3,621\nExtraordinary losses\nLoss on retirement of non-current assets 4,097 3,167\nLoss on sales of non-current assets 252 104\nImpairment losses 2,292 107,747\nCOVID-19 — 2,489\nBusiness restructuring expenses — 70,286\nForeign withholding taxes on transfer pricing taxation adjustments — 8,604\nLoss on sales of facilities Subsidiary transfer cost 1,879 2,376—\n456\nOther 250 3,850\nTotal extraordinary losses Profit (loss) before income taxes 11,147 3,801 196,707\n(298,289)\nIncome taxes - current 19,790 7,599\nIncome taxes for prior periods Income taxes - deferred — 6,067 (6,674)\n10,215\nTotal income taxes 25,857 11,139\nProfit (loss) (22,055) (309,428)\nProfit (loss) attributable to non-controlling interests 3,723 2,888\nProfit (loss) attributable to owners of parent (25,779) (312,317)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_revenue_growth",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "1455476m, prior year: 2270276m",
      "golden_context": "Page 44:\n\nConsolidated statement of income\n(Millions of yen)\nFor the fiscal year\nended March 31,\n2020\nFor the fiscal year\nended March 31,\n2021\nNet sales 2,270,276 1,455,476\nCost of sales 1,932,762 1,299,021\nGross profit Selling, general and administrative expenses\n337,514 156,454\nAdvertising and promotion expenses 48,407 34,891\nFreight costs Provision of allowance for doubtful accounts 51,058 484 29,112\n624\nRemuneration, salaries and allowances for directors (and other officers) 76,886 68,387\nRetirement benefit expenses 3,987 4,959\nDepreciation 18,505 14,898\nResearch and development expenses 73,826 55,990\nOther 51,570 42,912\nTotal selling, general and administrative expenses 324,726 251,776\nOperating profit (loss) 12,788 (95,321)\nNon-operating income\nInterest income 5,351 1,846\nDividend income 536 596\nForeign exchange gains — 3,784\nSubsidies for employment adjustment — 6,048\nOther 1,821 2,178\nTotal non-operating income 7,709 14,454\nNon-operating expenses\nInterest expenses 3,889 5,375\nForeign exchange losses 11,277—\nLitigation expenses 1,632 2,581\nShare of loss of entities accounted for using equity method 4,263 9,122\nOther 3,276 7,255\nTotal non-operating expenses Ordinary profit (loss) 24,341 (3,843) 24,335\n(105,203)\nExtraordinary income\nGain on sales of non-current assets 8,704 1,548\nGain on sales of investment securities 199 41\nGain on sales of shares of subsidiaries 413—\nGain on sales of investments in capital of subsidiaries and associates — 1,543\nGain on contribution of securities to retirement benefit trust Other 98 488\n9,376—\nTotal extraordinary income 18,793 3,621\nExtraordinary losses\nLoss on retirement of non-current assets 4,097 3,167\nLoss on sales of non-current assets 252 104\nImpairment losses 2,292 107,747\nCOVID-19 — 2,489\nBusiness restructuring expenses — 70,286\nForeign withholding taxes on transfer pricing taxation adjustments — 8,604\nLoss on sales of facilities Subsidiary transfer cost 1,879 2,376—\n456\nOther 250 3,850\nTotal extraordinary losses Profit (loss) before income taxes 11,147 3,801 196,707\n(298,289)\nIncome taxes - current 19,790 7,599\nIncome taxes for prior periods Income taxes - deferred — 6,067 (6,674)\n10,215\nTotal income taxes 25,857 11,139\nProfit (loss) (22,055) (309,428)\nProfit (loss) attributable to non-controlling interests 3,723 2,888\nProfit (loss) attributable to owners of parent (25,779) (312,317)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000422_segments",
      "report_id": "ID_000422",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Not given. Optional: Sales, manufacture, transport, maintenance, sales of parts, development, financing, leasing, rentals, investigation, testing, research, assembly",
      "golden_context": "Page 49:\n\nCapital Stock (In millions) Business Lines Percentage of Voting\nStock Holding (%) *1\nJPY 100 Automobile sales 100.0\nJPY 100 Automobile sales 100.0\nJPY 610 Automobile manufacture 100.0\nJPY 436 Automobile transport, maintenance and sales of parts 100.0\nJPY 350 Automobile development 100.0\nJPY 100 Manufacture of automobile parts 100.0\nJPY 3,000 Auto sales financing, leasing, rentals and sales, etc. 100.0\nUSD 398.8 Automobile sales 100.0\nUSD 2.0 Investigation, testing and research related to automobiles 100.0 (100.0)\nCAD 2.0 Automobile sales 100.0 (100.0)\nUSD 47.5 Automobile sales 100.0\nMXN 92.0 Automobile sales 100.0\nEUR 107.2 Automobile sales 100.0\nEUR 0.8 Investigation, testing and research related to automobiles 100.0\nEUR 6.8 Automobile sales 100.0\nAUD 1,789.9 Automobile sales 100.0\nNZD 48.0 Automobile sales 100.0\nTHB 7,000.0 Automobile assembly, sales 100.0\nTHB 20.0 Manufacturing of automobile engines and press parts 100.0 (100.0)\nPHP 1,640.0 Automobile assembly, sales 100.0\nPHP 770.0 Manufacturing of automobile transmissions 100.0\nUAD 10.0 Automobile parts sales 100.0\nMYR 20.0 Automobile parts sales 60.0\nIDR 2,200,000 Automobile assembly 51.0\nVND 410,812 Automobile assembly, sales 41.2\nJPY 60 Automobile sales 35.0\nJPY 40 Automobile sales 49.86\nJPY 58 Automobile sales 24.8\nJPY 50 Automobile sales 23.0\nJPY 60 Automobile sales 38.8\nJPY 100 Automobile parts sales 33.0 (10.0)\nJPY 10 Automobile planning and development 50.0\nEUR 30.0 Automobile sales 24.99\nCNY 1,947.0 Automobile assembly, sales 30.0\nIDR 1,300,000 Automobile sales 30.0\nCapital Stock (In millions) Business Lines Percentage of Voting\nStock Held (%)\nJPY 605,814 Automobile assembly, sales and related business 34.0\nJPY 204,447 Wholesale trade 20.0",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_cash_flow",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 118'114m\nInvesting: -69'123m\nFinancing: -10'234m",
      "golden_context": "Page 61:\n\nConsolidated statement of cash flows\nCash flows from operating activities\nProfit (loss) before income taxes\nDepreciation\nImpairment losses\nLoss on COVID-19\nBusiness restructuring expenses\nLoss related to Russian operations\nIncrease (decrease) in allowance for doubtful accounts Increase (decrease) in retirement benefit liability\nInterest and dividend income\nInterest expenses\nForeign exchange losses (gains)\nShare of loss (profit) of entities accounted for using equity method Gain on sale of investments in capital of subsidiaries and associates\nLoss (gain) on sale and retirement of non-current assets\nDecrease (increase) in trade receivables\nDecrease (increase) in finance receivables\nDecrease (increase) in inventories\nIncrease (decrease) in trade payables\nIncrease (decrease) in accounts payable - other, and accrued expenses Other, net\nSubtotal\nInterest and dividends received\nInterest paid\nIncome taxes paid\nNet cash provided by (used in) operating activities\nCash flows from investing activities\nDecrease (increase) in time deposits\nPurchase of property, plant and equipment\nProceeds from sale of property, plant and equipment Purchase of intangible assets Other, net\nNet cash provided by (used in) investing activities\nCash flows from financing activities\nIncrease (decrease) in short-term borrowings\nIncrease (decrease) in commercial papers\nProceeds from long-term borrowings\nRepayments of long-term borrowings\nDividends paid\nDividends paid to non-controlling interests\nPurchase of shares of subsidiaries not resulting in change in scope of consolidation\nOther, net\nNet cash provided by (used in) financing activities\nEffect of exchange rate change on cash and cash equivalents\nNet increase (decrease) in cash and cash equivalents\nCash and cash equivalents at beginning of period\nIncrease (decrease) in cash and cash equivalents resulting from change in scope of consolidation\nCash and cash equivalents at end of period\nFor the fiscal year ended March 31, 2021\n(298,289)\n65,917\n107,747\n2,489\n70,286\n-\n(1,051)\n2,263\n(2,443)\n5,375\n1,556\n9,122\n1,543)\n1,724\n(7,579)\n21,121\n44,160\n(20,436)\n21,630\n(50,572)\n(28,518)\n6,247\n(5,170)\n(14,096)\n(41,537)\n(11,071)\n(79,472)\n2,128\n(12,388)\n(519)\n(101,323)\n(48,331)\n(25,800)\n320,210\n(70,986)\n(35)\n(2,864)\n(329)\n(3,572)\n168,291\n19,473\n44,903\n399,588\n126\n444,619\n(Millions of yen)\nFor the fiscal year ended March 31, 2022\n94,689\n53,630\n1,451\n2,349\n(2,510)\n5,085\n(6,160)\n(8,527)\n(2,791)\n53\n37,935\n24,744\n(13,104)\n(42,322)\n(43,290)\n12,321\n122,732\n3,196\n(5,090)\n(2,723)\n118,114\n11,071\n(76,541)\n4,816\n(10,650)\n2,181\n(69,123)\n4,201\n10,500\n45,780\n(65,772)\n(21)\n(1,436)\n(3,485)\n(10,234)\n28,098\n66,854\n444,619\n-\n511,473",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_company_type",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Corporation",
      "golden_context": "Page 3:\n\nodel generated numerous customer inquiries\nand drove an increased interest in our electric vehicles.\nIn March 2022, we launched the new Airtrek , and the\nMINICAB-MiEV is scheduled for relaunch this autumn.\nBy adding three electric vehicles to our model lineup\nand providing customers with many electric vehicle\noptions, we will continue to address climate change\nand energy issues, and help achieve carbon neutrality,\nthrough the use of electrification technologies.\nPromoting Sustainability\nThe automotive industry is in the midst of a once-\nin-a-century transformation. In addition to industry\nfactors, we are being expected to make a greater\ncontribution to society in a world that is changing as\nCOVID-19 subsides. Last year, we expressed our sup-\nport for the Task Force on Climate-related Financial\nDisclosure (TCFD) recommendations. In addition to\nenhanced responses on the environmental front, we\nare working on initiatives targeting respect for human\nrights through a human rights due diligence mecha-\nnism, as well as achieving a balance between increased\nwork productivity and improved quality of life through\nfurther work style reforms. Through such moves to\nstrengthen our commitment to relationships with\nall stakeholders, including shareholders, customers,\nemployees and business partners, we will endeavor to\nearn more trust from society and our stakeholders.\nogy, SUV technology with high off-road driving perfor-\nmance and comfortable performance in functional and\nenjoyable spaces.\nStrengthening Our Lineup of Eco-Friendly\nVehicles\nTaking a long-term worldview, we will envision var-\nious scenarios and work together to make Mitsubishi\nMotors the ideal company of the future. At the same\ntime, we will ensure that our upward-trending earn-\nings recovery becomes more certain, will promote\na variety of initiatives to further refine Mitsubishi\nMotors’ uniqueness, as it has been redefined, and will\nprovide customers with safety, security and comfort\nwith the environment at the core. As a result, we aim\nto achieve sustainable growth and enhance corporate\nvalue over the medium to long term. I ask for your\nongoing support.\nDuring our current mid-term business plan, “Small but\nBeautiful,” we are working to strengthen our lineup of\neco-friendly vehicles by integrating our own propri-\netary technologies with alliance technologies. In fiscal\n2021, we focused in particular on PHEVs, sequentially\nrolling out the new Eclipse Cross PHEV model and the\nall-new Outlander PHEV model. Sales of both models\nhave been favorable, and customers have given them\nhigh marks for their strong environmental and driving\nTakao Kato\nMember of the Board\nRepresentative Executive Officer, President & CEO\nMitsubishi Motors Corporation\nIntegrated Report 2022 03\nMessage from the CFO\nWe will ensure the profit\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_key_financials",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "¥2,038.9 billion, \nOperating profit ¥87.3 billion\nOrdinary profit ¥101.0 billion  \n\nNet income ¥74.0 billion   ",
      "golden_context": "Page 55:\n\nOperational Review\nResults of Operations\nThe COVID-19 pandemic, which has continued since\n2020, has spread in repeated waves due to variant\nstrains, striking a serious blow to the supply chains\nand sales. Then from the second half of fiscal 2021,\ncost increases due to soaring material and logistics\ncosts also became apparent. In addition, geopolitical\nrisks triggered by Russia’s military invasion of Ukraine\nemerged, and the business environment surrounding\nthe MMC Group became more uncertain and changed\nday by day.\nDespite the difficulties in navigating the difficult\nbusiness environment, MMC’s earnings are on a\nrecovery track as a result of the flexible response to\nthe changing environment by the entire MMC, in addi-\ntion to many customers purchasing products such as\nall-new Outlander and all-new XPANDER.\nAs a result, full-year global sales volume was\n937,000 units, up 17% from the previous fiscal year, and\nfull-year net sales were ¥2,038.9 billion, up 40% from\nthe previous fiscal year. Operating profit recovered to\n¥87.3 billion (up ¥182.6 billion year on year) due to the\nincrease in sales volume, and the effects of curbing\nprice discounts and improving costs, in addition to\nthe tailwind from exchange rates. The operating profit\nmargin was 4.3%, an improvement of approximately\n11 percentage points from the previous fiscal year.\nOrdinary profit was ¥101.0 billion (up ¥206.2 billion year\non year), and profit attributable to owners of parent\nwas ¥74.0 billion (up ¥386.3 billion year on year).\nFinancial position\nTotal assets as of March 31, 2022 amounted to\n¥1,928.4 billion (up ¥72.1 billion from the end of the\nprevious fiscal year). Cash and deposits amounted to\n¥511.5 billion (up ¥55.8 billion from the end of the pre-\nvious fiscal year). Total liabilities amounted to ¥1,298.1\nbillion (down ¥32.9 billion from the end of the previous\nfiscal year). Of total liabilities, the interest bearing debt\nbalance was ¥480.5 billion (down ¥2.8 billion from the\nend of the previous fiscal year). Net assets as of March\nCash and Deposits/Interest-Bearing Debt\n(Billions of yen)\nCash and deposits\nInterest-bearing debt\n571.9\n556.8\n500.9\n455.7\n483.3\n511.5\n480.5\n399.6\n299.4\n228.7\n15.6\n26.6\n2016\n2017 2018\n2019 2020\n2021\n(FY)\n31, 2022 amounted to ¥630.3 billion (up ¥105.0 billion\nfrom the end of the previous fiscal year).\nCash flows\nCash flows for the current fiscal year consisted of a\nnet inflow of ¥118.1 billion from operating activities\n(up ¥159.6 billion year on year), a net outflow of ¥69.1\nbillion from investing activities (down ¥32.2 billion\nyear on year), and a net outflow of ¥10.2 billion from\nfinancing activities (down ¥178.5 billion year on year).\nIn addition, the balance of cash and cash equivalents\nat the end of the current fiscal year increased by\n¥66.9 billion from the end of the previous fiscal year\nto ¥511.5 billion, partially due to an increase of ¥28.1\nbillion from exchange differences on translation of\ncash and cash equivalents and other factors.\nFree cash flow for the current fiscal year ended up\nwith a net inflow of ¥49.0 billion (up ¥191.8 billion year\non year), due to an increase in inflow contributed by\noperating activities driven by higher sales volume.\nOverview of Cash Flow\n(FY) 2017 2018 2019 2020 2021\nShareholders’ equity ratio (%)*1 47.2 43.4 39.9 27.4 31.5\nShareholders’ equity ratio\n(fair value basis)*2 68.5 43.5 23.5 25.2 25.5\nCash flows/Interest-bearing\ndebt ratio*3 0.2 1.6 15.9 (11.6) 4.1\nInterest coverage ratio*4 34.1 38.9 4.8 (8.0) 23.2\n*1 \u0007 The shareholders’ equity ratio is shareholders’ equity divided\nby total assets.\n*2 \u0007 The shareholders’ equity ratio (fair value basis) is market\ncapitalization divided by total assets.\n*3 \u0007 The cash flows/interest-bearing debt ratio is interest-\nbearing debt divided by cash flow.\n*4 \u0007 The interest coverage ratio is cash flow divided by interest paid.\nNotes:\n1. \u0007 Each indicator is calculated from consolidated financial figures.\n2. \u0007 Market capitalization is calculated based on the number of\nissued shares excluding treasury stock.\n3. Cash flow refers to operating cash flow.\n4. \u0007 Interest-bearing debt includes all liabilities recorded on the\nconsolidated balance sheet for which interest is paid. From\nfiscal 2018, lease obligations are included in this figure.\nCash Flows\n(Billions of yen)\nCash flows from operating activities\nCash flows from investing activities\nCash flows from financing activities\n\n\nPage 54:\n\nFinancial and Non-Financial Summary\nFY2016 FY2017 FY2018 FY2019 FY2020 FY2021\nFor the year: (In billions of yen)\nNet sales 1,906.6 2,192.4 2,514.6 2,270.3 1,455.5 2,038.9\nOperating profit (loss) 5.1 98.2 111.8 12.8 (95.3) 87.3\nOrdinary profit (loss) 8.9 110.1 119.9 (3.8) (105.2) 101.0\nProfit (loss) attributable to\nowners of the parent (198.5) 1,07.6 1,32.9 (25.8) (312.3) 74.0\nSales volume (retail)\n(Thousands of units) 926 1,101 1,244 1,127 801 937\nR&D expenses 89.0 102.5 124.3 130.9 101.4 90.7\nCapital expenditures 58.1 99.9 137.7 103.9 76.4 62.7\nDepreciation 46.2 52.0 61.6 74.8 65.9 53.6\nReturn on equity (ROE) (%) (29.2) 14.6 16.1 (3.1) (48.8) 13.3\nPer share data:\b (In yen)\nEarnings per share (164.11) 72.23 89.26 (17.32) (209.88) 49.76\nDiluted earnings per share*1 — 72.20 89.18 — — 49.74\nDividends per share 10.00 17.00 20.00 10.00 0.00 0.00\nAt year-end:\b (In billions of yen)\nTotal assets Net assets 1,484.4 1,655.3 2,010.3 1,938.1 1,856.3 1,928.4\n703.5 796.6 881.2 788.4 525.3 630.3\nCash and deposits Equity ratio (%) Number of shares outstanding\n(Thousands) 556.8 571.9 500.9 399.6 455.7 511.5\nInterest-bearing debt 15.6 26.6 228.7 299.4 483.3 480.5\n46.5 47.2 43.4 39.9 27.4 31.5\n1,490,282 1,490,282 1,490,282 1,490,282 1,490,282 1,490,282\nCO2 Emissions*2\nScope 1 (direct emissions)*3 (x103t-CO2) 102 119 119 110 80 92\nScope 2 (indirect emissions)*3 (x103t-CO2) 359 436 469 416 285 319\nScope 3 (x103t-CO2 eq) 32,592 38,721 42,580 35,429 20,286 28,146\nEnergy input*2 (Primary and\nsecondary energy) (PJ) 8.3 9.9 10.2 9.5 7.0 8.2\nGenerated waste*2 (x103t) 150 162 187 202 109 143\nWithdrawn water volume*2 (x103m3) 5,606 6,727 6,211 5,915 4,420 4,640\nNumber of female managers (Persons)*4 49 58 68 74 80 94\nRatio of annual paid leave taken (%) 81.6 82.6 86.6 100.6 99.2 89.5\nAccident rate*5 0.54 0.60 0.41 0.42 0.30 0.20\nNumber of reports to or consulta-\ntions with the internal employee\nconsultation office (Instances) 153 170 194 166 112 109\n(Note) Changes in accounting methods have not been retroactively applied to previous fiscal years.\n*1 Diluted net income per share is not indicated for fiscal 2016, 2019 and 2020 because no dilutive shares existed.\n*2 Target site: 22 management target companies (Including MITSUBISHI MOTORS. As of March 31, 2022)\n*3 \u0007 CO2 emission factors are based on “Greenhouse Gas Emissions Conversion, Reporting, and Announcement System based on the Act on Promotion of\nGlobal Warming Countermeasures.”\nOverseas electric power conversion factors are provided by individual utilities. The IEA’s “CO2 Emissions from Fuel Combustion” of each year or\n“Emission Factors” are used for some locations.\n*4 As of July from 2017 to 2022\n*5 Number of accidents with or without loss of workdays per 1 million working hours\nNet Sales\n(Billions of yen)\nOperating Profit\n(Billions of yen)\n111.8\n2,514.6\n98.2\n87.3\n2,192.4\n2,270.3\n2,038.9\n1,906.6\n5.1\n12.8\n1,455.5\n-95.3\n(FY)\n54\n2016\n2017 2018\nMITSUBISHI MOTORS CORPORATION\n2019 2020\n2021\n2016\n2017 2018\n2019 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_revenue",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "2'038'909m net sales\n",
      "golden_context": "Page 58:\n\nConsolidated statement of income\nNet sales 1,455,476 2,038,909\nCost of sales 1,299,021 1,676,459\nGross profit 156,454 362,450\nTotal selling, general and administrative expenses 251,776 275,118\nOperating profit (loss) (95,321) 87,331\nTotal non-operating income 14,454 24,462\nFor the fiscal year\nended March 31,\n2021\n(Millions of yen)\nFor the fiscal year\nended March 31,\n2022\nSelling, general and administrative expenses\nAdvertising and promotion expenses 34,891 39,147\nFreight costs 29,112 49,849\nProvision of allowance for doubtful accounts 624 1,834\nRemuneration, salaries and allowances for directors (and other officers) 68,387 66,875\nRetirement benefit expenses 4,959 3,781\nDepreciation 14,898 12,715\nResearch and development expenses 55,990 57,507\nOther 42,912 43,405\nNon-operating income\nInterest income 1,846 1,942\nDividend income 596 567\nForeign exchange gains 3,784 9,241\nShare of profit of entities accounted for using equity method — 8,527\nSubsidies for employment adjustment 6,048 919\nOther 2,178 3,263\nNon-operating expenses\nInterest expenses 5,375 5,085\nLitigation expenses 2,581 1,586\nShare of loss of entities accounted for using equity method 9,122—\nFinancing expenses 1,603 1,476\nOther 5,651 2,675\nExtraordinary income\nGain on sales of non-current assets 1,548 2,858\nGain on sales of investment securities 41 99\nGain on sales of investments in capital of subsidiaries and associates 1,543 2,791\nGain on reversal of asset retirement obligations — 833\nOther 488 548\nExtraordinary losses\nLoss on retirement of non-current assets 3,167 2,887\nLoss on sales of non-current assets 104 23\nImpairment losses 107,747 1,451\nLoss related to Russian operations — 8,220\nCOVID-19 2,489—\nBusiness restructuring expenses 70,286—\nForeign withholding taxes on transfer pricing taxation adjustments 8,604—\nOther 4,306 827\nIncome taxes - current 7,599 13,362\nIncome taxes for prior periods (6,674)—\nIncome taxes - deferred 10,215 2,177\nTotal non-operating expenses 24,335 10,824\nOrdinary profit (loss) (105,203) 100,969\nTotal extraordinary income 3,621 7,131\nTotal extraordinary losses 196,707 13,411\nProfit (loss) before income taxes (298,289) 94,689\nTotal income taxes 11,139 15,539\nProfit (loss) (309,428) 79,149\nProfit (loss) attributable to non-controlling interests 2,888 5,112\nProfit (loss) attributable to owners of parent (312,317) 74,0",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_revenue_growth",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "2'038'909m net sales, prior year: 1'455'476",
      "golden_context": "Page 58:\n\nConsolidated statement of income\nNet sales 1,455,476 2,038,909\nCost of sales 1,299,021 1,676,459\nGross profit 156,454 362,450\nTotal selling, general and administrative expenses 251,776 275,118\nOperating profit (loss) (95,321) 87,331\nTotal non-operating income 14,454 24,462\nFor the fiscal year\nended March 31,\n2021\n(Millions of yen)\nFor the fiscal year\nended March 31,\n2022\nSelling, general and administrative expenses\nAdvertising and promotion expenses 34,891 39,147\nFreight costs 29,112 49,849\nProvision of allowance for doubtful accounts 624 1,834\nRemuneration, salaries and allowances for directors (and other officers) 68,387 66,875\nRetirement benefit expenses 4,959 3,781\nDepreciation 14,898 12,715\nResearch and development expenses 55,990 57,507\nOther 42,912 43,405\nNon-operating income\nInterest income 1,846 1,942\nDividend income 596 567\nForeign exchange gains 3,784 9,241\nShare of profit of entities accounted for using equity method — 8,527\nSubsidies for employment adjustment 6,048 919\nOther 2,178 3,263\nNon-operating expenses\nInterest expenses 5,375 5,085\nLitigation expenses 2,581 1,586\nShare of loss of entities accounted for using equity method 9,122—\nFinancing expenses 1,603 1,476\nOther 5,651 2,675\nExtraordinary income\nGain on sales of non-current assets 1,548 2,858\nGain on sales of investment securities 41 99\nGain on sales of investments in capital of subsidiaries and associates 1,543 2,791\nGain on reversal of asset retirement obligations — 833\nOther 488 548\nExtraordinary losses\nLoss on retirement of non-current assets 3,167 2,887\nLoss on sales of non-current assets 104 23\nImpairment losses 107,747 1,451\nLoss related to Russian operations — 8,220\nCOVID-19 2,489—\nBusiness restructuring expenses 70,286—\nForeign withholding taxes on transfer pricing taxation adjustments 8,604—\nOther 4,306 827\nIncome taxes - current 7,599 13,362\nIncome taxes for prior periods (6,674)—\nIncome taxes - deferred 10,215 2,177\nTotal non-operating expenses 24,335 10,824\nOrdinary profit (loss) (105,203) 100,969\nTotal extraordinary income 3,621 7,131\nTotal extraordinary losses 196,707 13,411\nProfit (loss) before income taxes (298,289) 94,689\nTotal income taxes 11,139 15,539\nProfit (loss) (309,428) 79,149\nProfit (loss) attributable to non-controlling interests 2,888 5,112\nProfit (loss) attributable to owners of parent (312,317) 74,0",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000423_segments",
      "report_id": "ID_000423",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "ASEAN\n\nOceania\n\nLatin America/Middle East/Africa, others\n\nChina, others\n\nJapan\n\nNorth America\n\nEurope",
      "golden_context": "Page 50:\n\nOverview of Operations by Region\nSales Volume\n| After changes in regional classifications*\n(Thousands of units)\n\n\nFY2019\nFY2020\nFY2021\nFY2021\nFY2022 (Forecast)\nASEAN\n290\n189\n250\n250\n299\nOceania\n88\n72\n97\n97\n97\nLatin America/Middle East/Africa, others\n136\n105\n147\n159\n142\nChina, others\n143\n105\n81\n81\n77\nJapan\n95\n73\n75\n75\n101\nNorth America\n160\n113\n156\n156\n166\nEurope\n215\n144\n131\n119\n56\nTotal\n1,127\n801\n937\n937\n938\nNet Sales (Billions of yen)\n\nFY2019\nFY2020\nFY2021\nFY2021\nFY2022 (Forecast)\nASEAN\n551.9\n317.7\n466.1\n466.1\n595.0\nOceania\n176.8\n173.3\n254.7\n254.7\n280.0\nLatin America/Middle East/Africa, others\n249.6\n145.3\n252.6\n275.2\n250.0\nChina, others\n41.7\n19.2\n16.7\n16.7\n15.0\nJapan\n460.5\n422.1\n393.9\n393.9\n580.0\nNorth America\n315.1\n194.6\n397.2\n397.2\n520.0\nEurope\n474.7\n183.3\n257.7\n235.1\n110.0\nTotal\n2,270.3\n1,455.5\n2,038.9\n2,038.9\n2,350.0\nOperating Profit\n(Billions of yen)\n\nFY2019\nFY2020\nFY2021\nASEAN\n636\n93\n321\nOceania\n(44)\n(74)\n286\nLatin America/Middle East/Africa, others\n40\n(114)\n127\nChina, others\n(15)\n(30)\n27\nJapan\n(126)\n(295)\n(102)\nNorth America\n(182)\n(333)\n241\nEurope\n(181)\n(200)\n(27)\nTotal\n128\n(953)\n873\n*From fiscal 2022 some countries in Europe were reclassified to Middle East/Africa, others.\nFigures for fiscal 2021 have been revised to fit this classification.\n50\nMITSUBISHI MOTORS CORPORATION\n",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_cash_flow",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating:   173.6bn, \ninvesting:   -53.1bn,\n financing:  -61.9bn",
      "golden_context": "Page 31:\n\nOverview of Cash Flow\n(FY) 2018 2019 2020 2021 2022\nShareholders’ equity ratio (%)*1 43.4 39.9 27.4 31.5 36.4\nShareholders’ equity ratio\n(fair value basis)*2 43.5 23.5 25.2 25.5 35.3\nCash flows/Interest-bearing\ndebt ratio*3 1.6 15.9 (11.6) 4.1 2.5\nInterest coverage ratio*4 38.9 4.8 (8.0) 23.2 47.9\n*1 _x0007_ The shareholders’ equity ratio is shareholders’ equity\ndivided by total assets.\n*2 _x0007_ The shareholders’ equity ratio (fair value basis) is market\ncapitalization divided by total assets.\n*3 _x0007_ The cash flows/interest-bearing debt ratio is interest-\nbearing debt divided by cash flow.\n*4 _x0007_ The interest coverage ratio is cash flow divided by interest paid.\nNotes:\n1. _x0007_ Each indicator is calculated from consolidated financial figures.\n2. _x0007_ Market capitalization is calculated based on the number of\nissued shares excluding treasury stock.\n3. Cash flow refers to operating cash flow.\n4. _x0007_ Interest-bearing debt includes all liabilities recorded on the\nconsolidated balance sheet for which interest is paid.\nCash Flows\n(Billions of yen)\nCash flows from operating activities\nCash flows from investing activities\nCash flows from financing activities\n168.3\n173.6\n146.1\n119.6\n118.1\n18.8\n9.6\n-23.2\n-10.2\n-10.2\n-41.5\n-75.0\n-75.0\n-69.1\n-69.1\n-53.1 -61.9\n-97.1\n-105.7\n-101.3\n-144.9\n-144.9\n2017\n2018 2019\n2020 2021\n2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_company_type",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly mentioned, \nbut \"Corporation\" is probably the \ncorrect answer. \n\"no answer found\" is also fine.",
      "golden_context": "Page 5:\n\nFiscal 2022 in Review\nIn fiscal 2022, as the COVID-19 vaccination rate im-\nproved and treatment drugs were developed, the risk\nof severe cases decreased. This led countries around\nthe world to refocus on easing measures to control\ninfection, and economic activity gradually returned to\nnormal. Nevertheless, a challenging business environ-\nment persisted, due to ongoing uncertainty surround-\ning the Russia–Ukraine situation, logistics disruptions,\nsoaring energy prices, and interest rate hikes aimed\nat reining in inflation.\nAgainst this backdrop, in fiscal 2022 the Mitsubishi\nMotors Group’s performance improved substantially\nyear on year. This was partly due to our implementa-\ntion of “quality-of-sales improvement activities” such\nOperating Performance and Forecast\n(Billions of yen, thousands of units)\nFY2022\n(Actual)\nFY2023\n(Forecast)\nSales volume (retail) 834 917\nNet sales 2,458.1 2,780.0\nOperating profit 190.5 170.0\nOrdinary profit 182.0 170.0\nProfit attributable to\nowners of the parent 168.7 110.0\nKentaro Matsuoka\nRepresentative Executive Officer,\nExecutive Vice President\n(CFO)\nas price enhancements and incentive controls across\nall regions, and partly thanks to favorable exchange\nrates. Our efforts helped offset the impact of vehicle\nsupply constraints, rising raw material costs, and\nincreased transportation expenses. Sales volume fell\n11% to 834,000 vehicles, but successful initiatives to\nbolster revenue per unit by increasing selling prices\nled to a 21% increase in net sales to ¥2,458.1 billion.\nOperating profit more than doubled to ¥190.5 billion,\nreaching a historic high, and the operating profit mar-\ngin rose 3.4 percentage points to 7.7%. Ordinary profit\namounted to ¥182.0 billion, and profit attributable to\nowners of the parent totaled ¥168.7 billion, affected\nby the posting of extraordinary losses related to the\nbusinesses in Russia and China.\nCapital Expenditures\n(Billions of yen)\n160\n137.7\n120\n103.9\n105.0\n99.9\n80\n76.4\n78.6\n62.7\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\n06\nMITSUBISHI MOTORS CORPORATION\nFuture Outlook\nIn March 2023, the Mitsubishi Motors Group unveiled\na new mid-term business plan, “Challenge 2025.”\nBuilding on the lean and agile business structure we\nput in place under our previous mid-term business\nplan, the new plan aims to establish a stable revenue\nbase, ensure the ability to respond flexibly to changes\nin the external environment, and step up investment\ntoward the next phase of growth. Specifically, by the\nplan’s final year in fiscal 2025, we are targeting ¥130.0\nbillion in capital expenditures and ¥150.0 billion in\nR&D spending, centering on electrification initiatives.\nDepreciation expenses will rise in line with the in-\ncrease in capital expenditures. However, by introduc-\ning new models, restoring production levels now that\nthe semiconductor supply situation has been resolved\nand securing shipping capacity, we expect to ramp\nup sales volume and simultaneously boost per-unit\nprofitability. This will enable us to effectively absorb\nother cost increases and achieve higher earnings and\nfree cash flow.\nIn fiscal 2023, the first year of our new mid-term\nbusiness plan, we have launched the Triton and the\nXforce—new models for the ASEAN market that show-\ncase Mitsubishi Motors-ness. We aim to boost sales\nvolume by further promoting sales of the Delica Mini ,\nR&D Expenses\n(Billions of yen)\n160\n120\n102.5 130.9\n124.3 118.0\n107.2\n101.4\n90.7\n80\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\nwhich got off to a strong start in Japan, and the new\nOutlander, our flagship model. In addition to leverag-\ning Mitsubishi Motors’ brand strengths, in fiscal 2023\nwe plan to continue with quality-of-sales improve-\nment activities. As a result, we anticipate net sales\nof ¥2,780.0 billion, operating profit of ¥170.0 billion,\nordinary profit of ¥170.0 billion, and profit attributable\nto owners of the parent of ¥110.0 billion.\nShareholder Returns\nWe had been unable to pay dividends since the end of\nfiscal 2019 because of negative non-consolidated dis-\ntributable income. This negative distributable income\nwas turned into a positive as of the end of fiscal 2022,\nand we had a reasonable prospect of being able to af-\nford steady dividends from fiscal 2023. Accordingly, we\nhave decided to resume year-end dividends at ¥5 per\nshare. Our fundamental policy is to maintain stable,\nlong-term dividend payments. Taking our future busi-\nness and investment plans into overall consideration,\nwe intend to pay an annual dividend of ¥10 per share\nfor fiscal 2023. We will continue to decide our dividend\npolicy with the aim of maintaining stable dividends,\nwhile carefully balancing such factors as fluctuations\nin the operating environment and the need to invest in\nfuture growth and accumulate equity capital.\nCash and Deposits/Interest-Bearing Debt\nCash and deposits\nInterest-bearing debt\n(Billions of yen)\n800\n596.0\n600\n571.9\n500.9\n483.3 511.5\n480.5\n455.7\n428.3\n399.6\n400\n299.4\n228.7\n200\n26.6\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n(Sales financing companies in Japan are included in the scope of con-\nsolidation from fiscal 2018",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_key_financials",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 2458.1bn, operating profit: 190.5bn, ordinary profit: 182.0bn",
      "golden_context": "Page 5:\n\nFiscal 2022 in Review\nIn fiscal 2022, as the COVID-19 vaccination rate im-\nproved and treatment drugs were developed, the risk\nof severe cases decreased. This led countries around\nthe world to refocus on easing measures to control\ninfection, and economic activity gradually returned to\nnormal. Nevertheless, a challenging business environ-\nment persisted, due to ongoing uncertainty surround-\ning the Russia–Ukraine situation, logistics disruptions,\nsoaring energy prices, and interest rate hikes aimed\nat reining in inflation.\nAgainst this backdrop, in fiscal 2022 the Mitsubishi\nMotors Group’s performance improved substantially\nyear on year. This was partly due to our implementa-\ntion of “quality-of-sales improvement activities” such\nOperating Performance and Forecast\n(Billions of yen, thousands of units)\nFY2022\n(Actual)\nFY2023\n(Forecast)\nSales volume (retail) 834 917\nNet sales 2,458.1 2,780.0\nOperating profit 190.5 170.0\nOrdinary profit 182.0 170.0\nProfit attributable to\nowners of the parent 168.7 110.0\nKentaro Matsuoka\nRepresentative Executive Officer,\nExecutive Vice President\n(CFO)\nas price enhancements and incentive controls across\nall regions, and partly thanks to favorable exchange\nrates. Our efforts helped offset the impact of vehicle\nsupply constraints, rising raw material costs, and\nincreased transportation expenses. Sales volume fell\n11% to 834,000 vehicles, but successful initiatives to\nbolster revenue per unit by increasing selling prices\nled to a 21% increase in net sales to ¥2,458.1 billion.\nOperating profit more than doubled to ¥190.5 billion,\nreaching a historic high, and the operating profit mar-\ngin rose 3.4 percentage points to 7.7%. Ordinary profit\namounted to ¥182.0 billion, and profit attributable to\nowners of the parent totaled ¥168.7 billion, affected\nby the posting of extraordinary losses related to the\nbusinesses in Russia and China.\nCapital Expenditures\n(Billions of yen)\n160\n137.7\n120\n103.9\n105.0\n99.9\n80\n76.4\n78.6\n62.7\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\n06\nMITSUBISHI MOTORS CORPORATION\nFuture Outlook\nIn March 2023, the Mitsubishi Motors Group unveiled\na new mid-term business plan, “Challenge 2025.”\nBuilding on the lean and agile business structure we\nput in place under our previous mid-term business\nplan, the new plan aims to establish a stable revenue\nbase, ensure the ability to respond flexibly to changes\nin the external environment, and step up investment\ntoward the next phase of growth. Specifically, by the\nplan’s final year in fiscal 2025, we are targeting ¥130.0\nbillion in capital expenditures and ¥150.0 billion in\nR&D spending, centering on electrification initiatives.\nDepreciation expenses will rise in line with the in-\ncrease in capital expenditures. However, by introduc-\ning new models, restoring production levels now that\nthe semiconductor supply situation has been resolved\nand securing shipping capacity, we expect to ramp\nup sales volume and simultaneously boost per-unit\nprofitability. This will enable us to effectively absorb\nother cost increases and achieve higher earnings and\nfree cash flow.\nIn fiscal 2023, the first year of our new mid-term\nbusiness plan, we have launched the Triton and the\nXforce—new models for the ASEAN market that show-\ncase Mitsubishi Motors-ness. We aim to boost sales\nvolume by further promoting sales of the Delica Mini ,\nR&D Expenses\n(Billions of yen)\n160\n120\n102.5 130.9\n124.3 118.0\n107.2\n101.4\n90.7\n80\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\nwhich got off to a strong start in Japan, and the new\nOutlander, our flagship model. In addition to leverag-\ning Mitsubishi Motors’ brand strengths, in fiscal 2023\nwe plan to continue with quality-of-sales improve-\nment activities. As a result, we anticipate net sales\nof ¥2,780.0 billion, operating profit of ¥170.0 billion,\nordinary profit of ¥170.0 billion, and profit attributable\nto owners of the parent of ¥110.0 billion.\nShareholder Returns\nWe had been unable to pay dividends since the end of\nfiscal 2019 because of negative non-consolidated dis-\ntributable income. This negative distributable income\nwas turned into a positive as of the end of fiscal 2022,\nand we had a reasonable prospect of being able to af-\nford steady dividends from fiscal 2023. Accordingly, we\nhave decided to resume year-end dividends at ¥5 per\nshare. Our fundamental policy is to maintain stable,\nlong-term dividend payments. Taking our future busi-\nness and investment plans into overall consideration,\nwe intend to pay an annual dividend of ¥10 per share\nfor fiscal 2023. We will continue to decide our dividend\npolicy with the aim of maintaining stable dividends,\nwhile carefully balancing such factors as fluctuations\nin the operating environment and the need to invest in\nfuture growth and accumulate equity capital.\nCash and Deposits/Interest-Bearing Debt\nCash and deposits\nInterest-bearing debt\n(Billions of yen)\n800\n596.0\n600\n571.9\n500.9\n483.3 511.5\n480.5\n455.7\n428.3\n399.6\n400\n299.4\n228.7\n200\n26.6\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n(Sales financing companies in Japan are included in the scope of con-\nsolidation from fiscal 2018",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_revenue",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "2458.1bn net sales",
      "golden_context": "Page 5:\n\nFiscal 2022 in Review\nIn fiscal 2022, as the COVID-19 vaccination rate im-\nproved and treatment drugs were developed, the risk\nof severe cases decreased. This led countries around\nthe world to refocus on easing measures to control\ninfection, and economic activity gradually returned to\nnormal. Nevertheless, a challenging business environ-\nment persisted, due to ongoing uncertainty surround-\ning the Russia–Ukraine situation, logistics disruptions,\nsoaring energy prices, and interest rate hikes aimed\nat reining in inflation.\nAgainst this backdrop, in fiscal 2022 the Mitsubishi\nMotors Group’s performance improved substantially\nyear on year. This was partly due to our implementa-\ntion of “quality-of-sales improvement activities” such\nOperating Performance and Forecast\n(Billions of yen, thousands of units)\nFY2022\n(Actual)\nFY2023\n(Forecast)\nSales volume (retail) 834 917\nNet sales 2,458.1 2,780.0\nOperating profit 190.5 170.0\nOrdinary profit 182.0 170.0\nProfit attributable to\nowners of the parent 168.7 110.0\nKentaro Matsuoka\nRepresentative Executive Officer,\nExecutive Vice President\n(CFO)\nas price enhancements and incentive controls across\nall regions, and partly thanks to favorable exchange\nrates. Our efforts helped offset the impact of vehicle\nsupply constraints, rising raw material costs, and\nincreased transportation expenses. Sales volume fell\n11% to 834,000 vehicles, but successful initiatives to\nbolster revenue per unit by increasing selling prices\nled to a 21% increase in net sales to ¥2,458.1 billion.\nOperating profit more than doubled to ¥190.5 billion,\nreaching a historic high, and the operating profit mar-\ngin rose 3.4 percentage points to 7.7%. Ordinary profit\namounted to ¥182.0 billion, and profit attributable to\nowners of the parent totaled ¥168.7 billion, affected\nby the posting of extraordinary losses related to the\nbusinesses in Russia and China.\nCapital Expenditures\n(Billions of yen)\n160\n137.7\n120\n103.9\n105.0\n99.9\n80\n76.4\n78.6\n62.7\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\n06\nMITSUBISHI MOTORS CORPORATION\nFuture Outlook\nIn March 2023, the Mitsubishi Motors Group unveiled\na new mid-term business plan, “Challenge 2025.”\nBuilding on the lean and agile business structure we\nput in place under our previous mid-term business\nplan, the new plan aims to establish a stable revenue\nbase, ensure the ability to respond flexibly to changes\nin the external environment, and step up investment\ntoward the next phase of growth. Specifically, by the\nplan’s final year in fiscal 2025, we are targeting ¥130.0\nbillion in capital expenditures and ¥150.0 billion in\nR&D spending, centering on electrification initiatives.\nDepreciation expenses will rise in line with the in-\ncrease in capital expenditures. However, by introduc-\ning new models, restoring production levels now that\nthe semiconductor supply situation has been resolved\nand securing shipping capacity, we expect to ramp\nup sales volume and simultaneously boost per-unit\nprofitability. This will enable us to effectively absorb\nother cost increases and achieve higher earnings and\nfree cash flow.\nIn fiscal 2023, the first year of our new mid-term\nbusiness plan, we have launched the Triton and the\nXforce—new models for the ASEAN market that show-\ncase Mitsubishi Motors-ness. We aim to boost sales\nvolume by further promoting sales of the Delica Mini ,\nR&D Expenses\n(Billions of yen)\n160\n120\n102.5 130.9\n124.3 118.0\n107.2\n101.4\n90.7\n80\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\nwhich got off to a strong start in Japan, and the new\nOutlander, our flagship model. In addition to leverag-\ning Mitsubishi Motors’ brand strengths, in fiscal 2023\nwe plan to continue with quality-of-sales improve-\nment activities. As a result, we anticipate net sales\nof ¥2,780.0 billion, operating profit of ¥170.0 billion,\nordinary profit of ¥170.0 billion, and profit attributable\nto owners of the parent of ¥110.0 billion.\nShareholder Returns\nWe had been unable to pay dividends since the end of\nfiscal 2019 because of negative non-consolidated dis-\ntributable income. This negative distributable income\nwas turned into a positive as of the end of fiscal 2022,\nand we had a reasonable prospect of being able to af-\nford steady dividends from fiscal 2023. Accordingly, we\nhave decided to resume year-end dividends at ¥5 per\nshare. Our fundamental policy is to maintain stable,\nlong-term dividend payments. Taking our future busi-\nness and investment plans into overall consideration,\nwe intend to pay an annual dividend of ¥10 per share\nfor fiscal 2023. We will continue to decide our dividend\npolicy with the aim of maintaining stable dividends,\nwhile carefully balancing such factors as fluctuations\nin the operating environment and the need to invest in\nfuture growth and accumulate equity capital.\nCash and Deposits/Interest-Bearing Debt\nCash and deposits\nInterest-bearing debt\n(Billions of yen)\n800\n596.0\n600\n571.9\n500.9\n483.3 511.5\n480.5\n455.7\n428.3\n399.6\n400\n299.4\n228.7\n200\n26.6\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n(Sales financing companies in Japan are included in the scope of con-\nsolidation from fiscal 2018",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_revenue_growth",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "increase of 21% in net sales",
      "golden_context": "Page 5:\n\nFiscal 2022 in Review\nIn fiscal 2022, as the COVID-19 vaccination rate im-\nproved and treatment drugs were developed, the risk\nof severe cases decreased. This led countries around\nthe world to refocus on easing measures to control\ninfection, and economic activity gradually returned to\nnormal. Nevertheless, a challenging business environ-\nment persisted, due to ongoing uncertainty surround-\ning the Russia–Ukraine situation, logistics disruptions,\nsoaring energy prices, and interest rate hikes aimed\nat reining in inflation.\nAgainst this backdrop, in fiscal 2022 the Mitsubishi\nMotors Group’s performance improved substantially\nyear on year. This was partly due to our implementa-\ntion of “quality-of-sales improvement activities” such\nOperating Performance and Forecast\n(Billions of yen, thousands of units)\nFY2022\n(Actual)\nFY2023\n(Forecast)\nSales volume (retail) 834 917\nNet sales 2,458.1 2,780.0\nOperating profit 190.5 170.0\nOrdinary profit 182.0 170.0\nProfit attributable to\nowners of the parent 168.7 110.0\nKentaro Matsuoka\nRepresentative Executive Officer,\nExecutive Vice President\n(CFO)\nas price enhancements and incentive controls across\nall regions, and partly thanks to favorable exchange\nrates. Our efforts helped offset the impact of vehicle\nsupply constraints, rising raw material costs, and\nincreased transportation expenses. Sales volume fell\n11% to 834,000 vehicles, but successful initiatives to\nbolster revenue per unit by increasing selling prices\nled to a 21% increase in net sales to ¥2,458.1 billion.\nOperating profit more than doubled to ¥190.5 billion,\nreaching a historic high, and the operating profit mar-\ngin rose 3.4 percentage points to 7.7%. Ordinary profit\namounted to ¥182.0 billion, and profit attributable to\nowners of the parent totaled ¥168.7 billion, affected\nby the posting of extraordinary losses related to the\nbusinesses in Russia and China.\nCapital Expenditures\n(Billions of yen)\n160\n137.7\n120\n103.9\n105.0\n99.9\n80\n76.4\n78.6\n62.7\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\n06\nMITSUBISHI MOTORS CORPORATION\nFuture Outlook\nIn March 2023, the Mitsubishi Motors Group unveiled\na new mid-term business plan, “Challenge 2025.”\nBuilding on the lean and agile business structure we\nput in place under our previous mid-term business\nplan, the new plan aims to establish a stable revenue\nbase, ensure the ability to respond flexibly to changes\nin the external environment, and step up investment\ntoward the next phase of growth. Specifically, by the\nplan’s final year in fiscal 2025, we are targeting ¥130.0\nbillion in capital expenditures and ¥150.0 billion in\nR&D spending, centering on electrification initiatives.\nDepreciation expenses will rise in line with the in-\ncrease in capital expenditures. However, by introduc-\ning new models, restoring production levels now that\nthe semiconductor supply situation has been resolved\nand securing shipping capacity, we expect to ramp\nup sales volume and simultaneously boost per-unit\nprofitability. This will enable us to effectively absorb\nother cost increases and achieve higher earnings and\nfree cash flow.\nIn fiscal 2023, the first year of our new mid-term\nbusiness plan, we have launched the Triton and the\nXforce—new models for the ASEAN market that show-\ncase Mitsubishi Motors-ness. We aim to boost sales\nvolume by further promoting sales of the Delica Mini ,\nR&D Expenses\n(Billions of yen)\n160\n120\n102.5 130.9\n124.3 118.0\n107.2\n101.4\n90.7\n80\n40\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n2023\nTarget\nwhich got off to a strong start in Japan, and the new\nOutlander, our flagship model. In addition to leverag-\ning Mitsubishi Motors’ brand strengths, in fiscal 2023\nwe plan to continue with quality-of-sales improve-\nment activities. As a result, we anticipate net sales\nof ¥2,780.0 billion, operating profit of ¥170.0 billion,\nordinary profit of ¥170.0 billion, and profit attributable\nto owners of the parent of ¥110.0 billion.\nShareholder Returns\nWe had been unable to pay dividends since the end of\nfiscal 2019 because of negative non-consolidated dis-\ntributable income. This negative distributable income\nwas turned into a positive as of the end of fiscal 2022,\nand we had a reasonable prospect of being able to af-\nford steady dividends from fiscal 2023. Accordingly, we\nhave decided to resume year-end dividends at ¥5 per\nshare. Our fundamental policy is to maintain stable,\nlong-term dividend payments. Taking our future busi-\nness and investment plans into overall consideration,\nwe intend to pay an annual dividend of ¥10 per share\nfor fiscal 2023. We will continue to decide our dividend\npolicy with the aim of maintaining stable dividends,\nwhile carefully balancing such factors as fluctuations\nin the operating environment and the need to invest in\nfuture growth and accumulate equity capital.\nCash and Deposits/Interest-Bearing Debt\nCash and deposits\nInterest-bearing debt\n(Billions of yen)\n800\n596.0\n600\n571.9\n500.9\n483.3 511.5\n480.5\n455.7\n428.3\n399.6\n400\n299.4\n228.7\n200\n26.6\n0\n(FY)\n2017\n2018\n2019\n2020\n2021\n2022\n(Sales financing companies in Japan are included in the scope of con-\nsolidation from fiscal 2018",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000424_segments",
      "report_id": "ID_000424",
      "company_name": "Mitsubishi Motors Corporation",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Geographic segments: \n\nASEAN & Oceania (Growth Drivers/core regions), \n\nLatin America & Middle East/Africa (Growth Investment Regions), \n\nJapan/North America/Europe/China (Advanced Technology Promotion Regions)",
      "golden_context": "Mentioned on multiple pages.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_cash_flow",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow, excl. Financial Services: 1122.2bn",
      "golden_context": "Page 28:\n\nSales and operating revenue 8,259.9 8,999.4\n+739.5 (+9%)\nOperating income 845.5 971.9\n+126.4 (+15%)\nIncome before income taxes 799.5 1,192.4\n+392.9 (+49%)\nNet income attributable to Sony Group Corporation’s stockholders 582.2 1,171.8\n+589.6 (+101%)\nOperating Cash Flow (excluding Financial Services)2 762.9 1,122.2 +359.3\nInvesting Cash Flow (excluding Financial Services)2 (363.1) (581.2) -218.1\nOperating CF + Investing CF (both excluding Financial Services)2 399.8 541.0 +141.3\nFY2020 Financial Results\nFY2020 Consolidated Financial Results\nIn the fiscal year ended March 31, 2021, consolidated\nsales and operating revenue grew 9% year on year to\n¥8,999.4 billion, while operating income grew 15% to\n¥971.9 billion. Operating income grew significantly in\nthe G&NS, EP&S and Music segments while decreasing\nsignificantly in the I&SS segment as a result of changes\nin the business environment. Profit growth was driven\nmainly by growth in Game Software and Network\nServices revenue in the G&NS segment, operational cost-\ncutting and sales mix improvement in the EP&S segment,\nand, in the Music segment, growth in Recorded Music\nstreaming revenue as well as Visual Media & Platform\nrevenue.\n(Billion yen)\nExcluding the Financial Services segment,\nconsolidated operating cash flow totaled ¥1,122.2 billion.\n1. _x0007_ The average exchange rate for the fiscal year ended March 31, 2020 was 1 USD = 108.7 JPY and 1 EUR = 120.8 JPY; that for the fiscal year ended March 31,\n2021 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY.\n2. _x0007_ Operating and investing cash flow (both excluding Financial Services) are non-GAAP financial measures, but Sony believes that they may be useful to investors.\nNote: Financial information in this report is presented in accordance with U.S. GAAP, except where otherwise expressly stated.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_company_type",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\nA Creative Entertainment Company\nwith a Solid Foundation of Technology\n©2021 Sony Pictures Entertainment Inc. All Rights Reserved.\n©Koyoharu Gotoge / SHUEISHA, Aniplex, ufotable",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_key_financials",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales and operating revenue 8999.4bn, operating income: 971.9bn, operating cash flow excl. Financial Services: 1122.2bn",
      "golden_context": "Page 28:\n\nSales and operating revenue 8,259.9 8,999.4\n+739.5 (+9%)\nOperating income 845.5 971.9\n+126.4 (+15%)\nIncome before income taxes 799.5 1,192.4\n+392.9 (+49%)\nNet income attributable to Sony Group Corporation’s stockholders 582.2 1,171.8\n+589.6 (+101%)\nOperating Cash Flow (excluding Financial Services)2 762.9 1,122.2 +359.3\nInvesting Cash Flow (excluding Financial Services)2 (363.1) (581.2) -218.1\nOperating CF + Investing CF (both excluding Financial Services)2 399.8 541.0 +141.3\nFY2020 Financial Results\nFY2020 Consolidated Financial Results\nIn the fiscal year ended March 31, 2021, consolidated\nsales and operating revenue grew 9% year on year to\n¥8,999.4 billion, while operating income grew 15% to\n¥971.9 billion. Operating income grew significantly in\nthe G&NS, EP&S and Music segments while decreasing\nsignificantly in the I&SS segment as a result of changes\nin the business environment. Profit growth was driven\nmainly by growth in Game Software and Network\nServices revenue in the G&NS segment, operational cost-\ncutting and sales mix improvement in the EP&S segment,\nand, in the Music segment, growth in Recorded Music\nstreaming revenue as well as Visual Media & Platform\nrevenue.\n(Billion yen)\nExcluding the Financial Services segment,\nconsolidated operating cash flow totaled ¥1,122.2 billion.\n1. _x0007_ The average exchange rate for the fiscal year ended March 31, 2020 was 1 USD = 108.7 JPY and 1 EUR = 120.8 JPY; that for the fiscal year ended March 31,\n2021 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY.\n2. _x0007_ Operating and investing cash flow (both excluding Financial Services) are non-GAAP financial measures, but Sony believes that they may be useful to investors.\nNote: Financial information in this report is presented in accordance with U.S. GAAP, except where otherwise expressly stated.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_revenue",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "8999.4bn",
      "golden_context": "Page 28:\n\nSales and operating revenue 8,259.9 8,999.4\n+739.5 (+9%)\nOperating income 845.5 971.9\n+126.4 (+15%)\nIncome before income taxes 799.5 1,192.4\n+392.9 (+49%)\nNet income attributable to Sony Group Corporation’s stockholders 582.2 1,171.8\n+589.6 (+101%)\nOperating Cash Flow (excluding Financial Services)2 762.9 1,122.2 +359.3\nInvesting Cash Flow (excluding Financial Services)2 (363.1) (581.2) -218.1\nOperating CF + Investing CF (both excluding Financial Services)2 399.8 541.0 +141.3\nFY2020 Financial Results\nFY2020 Consolidated Financial Results\nIn the fiscal year ended March 31, 2021, consolidated\nsales and operating revenue grew 9% year on year to\n¥8,999.4 billion, while operating income grew 15% to\n¥971.9 billion. Operating income grew significantly in\nthe G&NS, EP&S and Music segments while decreasing\nsignificantly in the I&SS segment as a result of changes\nin the business environment. Profit growth was driven\nmainly by growth in Game Software and Network\nServices revenue in the G&NS segment, operational cost-\ncutting and sales mix improvement in the EP&S segment,\nand, in the Music segment, growth in Recorded Music\nstreaming revenue as well as Visual Media & Platform\nrevenue.\n(Billion yen)\nExcluding the Financial Services segment,\nconsolidated operating cash flow totaled ¥1,122.2 billion.\n1. _x0007_ The average exchange rate for the fiscal year ended March 31, 2020 was 1 USD = 108.7 JPY and 1 EUR = 120.8 JPY; that for the fiscal year ended March 31,\n2021 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY.\n2. _x0007_ Operating and investing cash flow (both excluding Financial Services) are non-GAAP financial measures, but Sony believes that they may be useful to investors.\nNote: Financial information in this report is presented in accordance with U.S. GAAP, except where otherwise expressly stated.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_revenue_growth",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "8999.4bn, prior year: 8259.9bn",
      "golden_context": "Page 28:\n\nSales and operating revenue 8,259.9 8,999.4\n+739.5 (+9%)\nOperating income 845.5 971.9\n+126.4 (+15%)\nIncome before income taxes 799.5 1,192.4\n+392.9 (+49%)\nNet income attributable to Sony Group Corporation’s stockholders 582.2 1,171.8\n+589.6 (+101%)\nOperating Cash Flow (excluding Financial Services)2 762.9 1,122.2 +359.3\nInvesting Cash Flow (excluding Financial Services)2 (363.1) (581.2) -218.1\nOperating CF + Investing CF (both excluding Financial Services)2 399.8 541.0 +141.3\nFY2020 Financial Results\nFY2020 Consolidated Financial Results\nIn the fiscal year ended March 31, 2021, consolidated\nsales and operating revenue grew 9% year on year to\n¥8,999.4 billion, while operating income grew 15% to\n¥971.9 billion. Operating income grew significantly in\nthe G&NS, EP&S and Music segments while decreasing\nsignificantly in the I&SS segment as a result of changes\nin the business environment. Profit growth was driven\nmainly by growth in Game Software and Network\nServices revenue in the G&NS segment, operational cost-\ncutting and sales mix improvement in the EP&S segment,\nand, in the Music segment, growth in Recorded Music\nstreaming revenue as well as Visual Media & Platform\nrevenue.\n(Billion yen)\nExcluding the Financial Services segment,\nconsolidated operating cash flow totaled ¥1,122.2 billion.\n1. _x0007_ The average exchange rate for the fiscal year ended March 31, 2020 was 1 USD = 108.7 JPY and 1 EUR = 120.8 JPY; that for the fiscal year ended March 31,\n2021 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY.\n2. _x0007_ Operating and investing cash flow (both excluding Financial Services) are non-GAAP financial measures, but Sony believes that they may be useful to investors.\nNote: Financial information in this report is presented in accordance with U.S. GAAP, except where otherwise expressly stated.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000425_segments",
      "report_id": "ID_000425",
      "company_name": "Sony",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Game & Network Services, Music, Pictures, Electronics Products & Solutions, Imaging & Sensing Solutions, Financial Services",
      "golden_context": "Page 12:\n\nwords for Value Creation at Sony\nFrom the\nDream of\nSony’s\nFounders\nIn 1946, Masaru Ibuka, Akio Morita and more than twenty\nothers established the Tokyo Telecommunications Engineering\nCorporation, the predecessor of Sony, with the aim of using their\ntechnologies to contribute to society. The company began with\nJapan's first tape recorder, and went on to develop and sell products\nfor the mass market. The company was set up to “establish an ideal\nfactory that stresses a spirit of freedom and open-mindedness that\nwill, through technology, contribute to Japanese culture.”\nIn 1958, the company changed its name to Sony, as it is known\ntoday. Masaru Ibuka and Akio Morita chose a name worthy of more\nthan just an electronics manufacturer, reflecting their ambition to\ntake on challenges in new fields beyond electronic products and\nbecome a corporate group with a global presence.\nAkio Morita (left), Masaru Ibuka (right)\nFounding Prospectus\nDiversity\nOver its history of roughly 75 years, Sony has evolved\ninto a company with a diverse business portfolio and\nworkforce. Our businesses have been increasing their\nautonomy while continuing to rise to new challenges.\nBeyond pursuing steady growth, our businesses and\ntheir diverse employees are now working to create\nnew value through collaboration.\nInsurance\n6\nPictures\n8\nMusic\n8\nFY2000\nElectronics\n69\nGames\n９ ¥7,314.8\nbillion\nConsolidated Sales and Operating Revenue / Sales Composition by Segment (%)\nNote: Sales compositions exclude sales within All Other/Corporate and elimination.\nFinancial Services\n11\nPictures\n8\nFY2010\nMusic\n7\n¥7,177.6\nbillion\nGames\n12\n16\nDevices\nHome Entertainment\n& Sound\n24\n13\nImaging\nProducts\n& Solutions\n9\nMobile Products\n& Communications\nFinancial Services\n19\nImaging &\nSensing\nSolutions\n11\nFY2020\n¥8,999.4\nbillion\n21\nElectronics\nProducts &\nSolutions\n8\nPictures\n30\nGame &\nNetwork\nServices\n11\nMusic\n1950: [EP&S] Japan’s first tape recorder launched\n1954: [I&SS] Prototype of Japan’s first transistor developed\n1968: [Music] Domestic music business launched (CBS/Sony Records established)\n1979: _x0007_ [Financial Services] Financial services business launched (Sony Prudential Life\nInsurance established)\n1988: [Music] Music business taken global (CBS Records acquired)\n1989: [Pictures] Motion picture business launched (Columbia Pictures acquired)\n1993: [G&NS] Game business launched (Sony Computer Entertainment established)\n2000: [I&SS] CMOS image sensors commercialized\n2006: [EP&S] Digital single-lens reflex (DSLR) camera business launched\n2006: [G&NS] Launched PSN\n2020: _x0007_ [Financial Services] Financial services business made a wholly-owned subsidiary",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_cash_flow",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow, excl Financial Services: 813.3bn, investing cash flow, excl Financial Services: -711.1bn",
      "golden_context": "Page 28:\n\nReview of FY2021\nIn FY2021, consolidated sales and financial services revenue grew by 10% year\non year to ¥9,921.5 billion, while operating income grew by 26% to ¥1,202.3\nbillion. This increase is attributed mainly to growth in both theatrical and\nlicensing revenues from digital streaming services for new film titles and a\ngain from business transfers in the Pictures segment, an improved product\nmix in the ET&S segment, and growth in revenues from streaming services in\nthe Music segment. Excluding the Financial Services segment, consolidated\noperating cash flow totaled ¥813.3 billion.\nMeanwhile, net income attributable to Sony Group Corporation\nshareholders for the period was ¥882.2 billion, a decrease of ¥147.4 billion\ncompared with the previous fiscal year, in which there was a reversal of a\nprevious write-down of deferred tax assets amounting to ¥256.8 billion.\nNote: _x0007_ Since April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed\nthe Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any\nreclassification of businesses across segments.\nFY2021 Sales / Financial Services Revenue and Operating Income by Segment\nFY2021 Consolidated Financial Results (Billion yen)\nFY20201 FY20211 Year-on-year Change\n(+/-)\nSales and Financial Services Revenue 8,998.7 9,921.5 +922.9 (+10%)\nOperating income 955.3 1,202.3 +247.1 (+26%)\nIncome before income taxes 998.0 1,117.5 +119.5 (+12%)\nNet income attributable to Sony Group Corporation’s stockholders 1,029.6 882.2 –147.4 (–14%)\nOperating Cash Flow (excluding Financial Services)2 1,150.3 813.3 –337.0\nInvesting Cash Flow (excluding Financial Services)2 (542.2) (711.1) –169.0\nOperating CF + Investing CF (both excluding Financial Services)2 608.1 102.1 –506.0\n1. _x0007_ Average exchange rate for FY2020 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY; that for FY2021 was 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY.\n2. _x0007_ Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance with IFRS.\nHowever, Sony believes that this disclosure may be useful information to investors.\nNote: _x0007_ Sony adopted IFRS starting in quarter ended June 30, 2021, in lieu of the previously-applied generally accepted accounting principles in U.S. (U.S.\nGAAP). Results for FY2020 are also presented in accordance with IFRS (applies to all following pages).\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2020 FY2021 FY2020 FY2021\nMain Factors in Operating Income Change\nGame & Network Services 2,656.3 2,739.8 341.7 346.1 (+) Decrease in loss resulting from strategic price points for PS5TM hardware set lower than manufacturing cost\n(–) Decrease in game software sales, mainly in non-first-party titles, including add-on content\nMusic 939.9 1,116.9 184.8 210.9\n(+) Increase in Recorded Music and Music Publishing businesses’ streaming service revenues\n(+) Positive impact of exchange rates\n(–) Absence of gain recorded on partial share sales and overseas business transfer in previous fiscal year\nPictures 753.0 1,238.9 79.9 217.4\n(+) Gain from transfer of GSN Games business\n(+) Higher sales for Motion Pictures due to increased theatrical revenue for new film titles\n(+) Gain from Seinfeld licensing\nEntertainment,\nTechnology & Services 2,068.1 2,339.2 127.9 212.9 (+) Improved product mix for digital cameras and televisions\n(+) Positive impact of exchange rates\nImaging & Sensing Solutions 1,012.5 1,076.4 145.9 155.6\n(+) Increase in unit sales of image sensors for digital cameras and industrial equipment\n(+) Positive impact of exchange rates\n(–) Increased R&D and depreciation/amortization expenses\n(–) Decrease in sales of image sensors for mobile products\nFinancial Services 1,674.0 1,533.8 154.8 150.1 (–) One-time loss recorded at a subsidiary of Sony Life\n(+) Higher insurance premium revenue at Sony Life, reflecting increase in policy amount in force\nNote: _x0007_ Due to organizational changes as of April 1, 2021, from Q1 FY2021 Sony transferred some businesses and functions previously included within All Other and Corporate and elimination to the ET&S segment. On this page, sa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_company_type",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 3:\n\n©2022 Sony Pictures Entertainment, Inc. All Rights Reserved. MARVEL and all related character names: © & ™ 2022 MARVEL\nUNCHARTED: ©2022 CTMG.\n“Lifeplanner” is a registered trademark of Sony Life Insurance Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_key_financials",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales and Financial Services Revenue: 9921.5bn, operating income: 1202.3bn, operating cash flow, excl Financial Services: 813.3bn",
      "golden_context": "Page 28:\n\nReview of FY2021\nIn FY2021, consolidated sales and financial services revenue grew by 10% year\non year to ¥9,921.5 billion, while operating income grew by 26% to ¥1,202.3\nbillion. This increase is attributed mainly to growth in both theatrical and\nlicensing revenues from digital streaming services for new film titles and a\ngain from business transfers in the Pictures segment, an improved product\nmix in the ET&S segment, and growth in revenues from streaming services in\nthe Music segment. Excluding the Financial Services segment, consolidated\noperating cash flow totaled ¥813.3 billion.\nMeanwhile, net income attributable to Sony Group Corporation\nshareholders for the period was ¥882.2 billion, a decrease of ¥147.4 billion\ncompared with the previous fiscal year, in which there was a reversal of a\nprevious write-down of deferred tax assets amounting to ¥256.8 billion.\nNote: _x0007_ Since April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed\nthe Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any\nreclassification of businesses across segments.\nFY2021 Sales / Financial Services Revenue and Operating Income by Segment\nFY2021 Consolidated Financial Results (Billion yen)\nFY20201 FY20211 Year-on-year Change\n(+/-)\nSales and Financial Services Revenue 8,998.7 9,921.5 +922.9 (+10%)\nOperating income 955.3 1,202.3 +247.1 (+26%)\nIncome before income taxes 998.0 1,117.5 +119.5 (+12%)\nNet income attributable to Sony Group Corporation’s stockholders 1,029.6 882.2 –147.4 (–14%)\nOperating Cash Flow (excluding Financial Services)2 1,150.3 813.3 –337.0\nInvesting Cash Flow (excluding Financial Services)2 (542.2) (711.1) –169.0\nOperating CF + Investing CF (both excluding Financial Services)2 608.1 102.1 –506.0\n1. _x0007_ Average exchange rate for FY2020 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY; that for FY2021 was 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY.\n2. _x0007_ Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance with IFRS.\nHowever, Sony believes that this disclosure may be useful information to investors.\nNote: _x0007_ Sony adopted IFRS starting in quarter ended June 30, 2021, in lieu of the previously-applied generally accepted accounting principles in U.S. (U.S.\nGAAP). Results for FY2020 are also presented in accordance with IFRS (applies to all following pages).\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2020 FY2021 FY2020 FY2021\nMain Factors in Operating Income Change\nGame & Network Services 2,656.3 2,739.8 341.7 346.1 (+) Decrease in loss resulting from strategic price points for PS5TM hardware set lower than manufacturing cost\n(–) Decrease in game software sales, mainly in non-first-party titles, including add-on content\nMusic 939.9 1,116.9 184.8 210.9\n(+) Increase in Recorded Music and Music Publishing businesses’ streaming service revenues\n(+) Positive impact of exchange rates\n(–) Absence of gain recorded on partial share sales and overseas business transfer in previous fiscal year\nPictures 753.0 1,238.9 79.9 217.4\n(+) Gain from transfer of GSN Games business\n(+) Higher sales for Motion Pictures due to increased theatrical revenue for new film titles\n(+) Gain from Seinfeld licensing\nEntertainment,\nTechnology & Services 2,068.1 2,339.2 127.9 212.9 (+) Improved product mix for digital cameras and televisions\n(+) Positive impact of exchange rates\nImaging & Sensing Solutions 1,012.5 1,076.4 145.9 155.6\n(+) Increase in unit sales of image sensors for digital cameras and industrial equipment\n(+) Positive impact of exchange rates\n(–) Increased R&D and depreciation/amortization expenses\n(–) Decrease in sales of image sensors for mobile products\nFinancial Services 1,674.0 1,533.8 154.8 150.1 (–) One-time loss recorded at a subsidiary of Sony Life\n(+) Higher insurance premium revenue at Sony Life, reflecting increase in policy amount in force\nNote: _x0007_ Due to organizational changes as of April 1, 2021, from Q1 FY2021 Sony transferred some businesses and functions previously included within All Other and Corporate and elimination to the ET&S segment. On this page, sa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_revenue",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Sales and Financial Services Revenue: 9921.5bn",
      "golden_context": "Page 28:\n\nReview of FY2021\nIn FY2021, consolidated sales and financial services revenue grew by 10% year\non year to ¥9,921.5 billion, while operating income grew by 26% to ¥1,202.3\nbillion. This increase is attributed mainly to growth in both theatrical and\nlicensing revenues from digital streaming services for new film titles and a\ngain from business transfers in the Pictures segment, an improved product\nmix in the ET&S segment, and growth in revenues from streaming services in\nthe Music segment. Excluding the Financial Services segment, consolidated\noperating cash flow totaled ¥813.3 billion.\nMeanwhile, net income attributable to Sony Group Corporation\nshareholders for the period was ¥882.2 billion, a decrease of ¥147.4 billion\ncompared with the previous fiscal year, in which there was a reversal of a\nprevious write-down of deferred tax assets amounting to ¥256.8 billion.\nNote: _x0007_ Since April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed\nthe Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any\nreclassification of businesses across segments.\nFY2021 Sales / Financial Services Revenue and Operating Income by Segment\nFY2021 Consolidated Financial Results (Billion yen)\nFY20201 FY20211 Year-on-year Change\n(+/-)\nSales and Financial Services Revenue 8,998.7 9,921.5 +922.9 (+10%)\nOperating income 955.3 1,202.3 +247.1 (+26%)\nIncome before income taxes 998.0 1,117.5 +119.5 (+12%)\nNet income attributable to Sony Group Corporation’s stockholders 1,029.6 882.2 –147.4 (–14%)\nOperating Cash Flow (excluding Financial Services)2 1,150.3 813.3 –337.0\nInvesting Cash Flow (excluding Financial Services)2 (542.2) (711.1) –169.0\nOperating CF + Investing CF (both excluding Financial Services)2 608.1 102.1 –506.0\n1. _x0007_ Average exchange rate for FY2020 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY; that for FY2021 was 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY.\n2. _x0007_ Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance with IFRS.\nHowever, Sony believes that this disclosure may be useful information to investors.\nNote: _x0007_ Sony adopted IFRS starting in quarter ended June 30, 2021, in lieu of the previously-applied generally accepted accounting principles in U.S. (U.S.\nGAAP). Results for FY2020 are also presented in accordance with IFRS (applies to all following pages).\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2020 FY2021 FY2020 FY2021\nMain Factors in Operating Income Change\nGame & Network Services 2,656.3 2,739.8 341.7 346.1 (+) Decrease in loss resulting from strategic price points for PS5TM hardware set lower than manufacturing cost\n(–) Decrease in game software sales, mainly in non-first-party titles, including add-on content\nMusic 939.9 1,116.9 184.8 210.9\n(+) Increase in Recorded Music and Music Publishing businesses’ streaming service revenues\n(+) Positive impact of exchange rates\n(–) Absence of gain recorded on partial share sales and overseas business transfer in previous fiscal year\nPictures 753.0 1,238.9 79.9 217.4\n(+) Gain from transfer of GSN Games business\n(+) Higher sales for Motion Pictures due to increased theatrical revenue for new film titles\n(+) Gain from Seinfeld licensing\nEntertainment,\nTechnology & Services 2,068.1 2,339.2 127.9 212.9 (+) Improved product mix for digital cameras and televisions\n(+) Positive impact of exchange rates\nImaging & Sensing Solutions 1,012.5 1,076.4 145.9 155.6\n(+) Increase in unit sales of image sensors for digital cameras and industrial equipment\n(+) Positive impact of exchange rates\n(–) Increased R&D and depreciation/amortization expenses\n(–) Decrease in sales of image sensors for mobile products\nFinancial Services 1,674.0 1,533.8 154.8 150.1 (–) One-time loss recorded at a subsidiary of Sony Life\n(+) Higher insurance premium revenue at Sony Life, reflecting increase in policy amount in force\nNote: _x0007_ Due to organizational changes as of April 1, 2021, from Q1 FY2021 Sony transferred some businesses and functions previously included within All Other and Corporate and elimination to the ET&S segment. On this page, sa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_revenue_growth",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and Financial Services Revenue: 9921.5bn, prior year: 8998.7bn",
      "golden_context": "Page 28:\n\nReview of FY2021\nIn FY2021, consolidated sales and financial services revenue grew by 10% year\non year to ¥9,921.5 billion, while operating income grew by 26% to ¥1,202.3\nbillion. This increase is attributed mainly to growth in both theatrical and\nlicensing revenues from digital streaming services for new film titles and a\ngain from business transfers in the Pictures segment, an improved product\nmix in the ET&S segment, and growth in revenues from streaming services in\nthe Music segment. Excluding the Financial Services segment, consolidated\noperating cash flow totaled ¥813.3 billion.\nMeanwhile, net income attributable to Sony Group Corporation\nshareholders for the period was ¥882.2 billion, a decrease of ¥147.4 billion\ncompared with the previous fiscal year, in which there was a reversal of a\nprevious write-down of deferred tax assets amounting to ¥256.8 billion.\nNote: _x0007_ Since April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed\nthe Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any\nreclassification of businesses across segments.\nFY2021 Sales / Financial Services Revenue and Operating Income by Segment\nFY2021 Consolidated Financial Results (Billion yen)\nFY20201 FY20211 Year-on-year Change\n(+/-)\nSales and Financial Services Revenue 8,998.7 9,921.5 +922.9 (+10%)\nOperating income 955.3 1,202.3 +247.1 (+26%)\nIncome before income taxes 998.0 1,117.5 +119.5 (+12%)\nNet income attributable to Sony Group Corporation’s stockholders 1,029.6 882.2 –147.4 (–14%)\nOperating Cash Flow (excluding Financial Services)2 1,150.3 813.3 –337.0\nInvesting Cash Flow (excluding Financial Services)2 (542.2) (711.1) –169.0\nOperating CF + Investing CF (both excluding Financial Services)2 608.1 102.1 –506.0\n1. _x0007_ Average exchange rate for FY2020 was 1 USD = 106.1 JPY and 1 EUR = 123.7 JPY; that for FY2021 was 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY.\n2. _x0007_ Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance with IFRS.\nHowever, Sony believes that this disclosure may be useful information to investors.\nNote: _x0007_ Sony adopted IFRS starting in quarter ended June 30, 2021, in lieu of the previously-applied generally accepted accounting principles in U.S. (U.S.\nGAAP). Results for FY2020 are also presented in accordance with IFRS (applies to all following pages).\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2020 FY2021 FY2020 FY2021\nMain Factors in Operating Income Change\nGame & Network Services 2,656.3 2,739.8 341.7 346.1 (+) Decrease in loss resulting from strategic price points for PS5TM hardware set lower than manufacturing cost\n(–) Decrease in game software sales, mainly in non-first-party titles, including add-on content\nMusic 939.9 1,116.9 184.8 210.9\n(+) Increase in Recorded Music and Music Publishing businesses’ streaming service revenues\n(+) Positive impact of exchange rates\n(–) Absence of gain recorded on partial share sales and overseas business transfer in previous fiscal year\nPictures 753.0 1,238.9 79.9 217.4\n(+) Gain from transfer of GSN Games business\n(+) Higher sales for Motion Pictures due to increased theatrical revenue for new film titles\n(+) Gain from Seinfeld licensing\nEntertainment,\nTechnology & Services 2,068.1 2,339.2 127.9 212.9 (+) Improved product mix for digital cameras and televisions\n(+) Positive impact of exchange rates\nImaging & Sensing Solutions 1,012.5 1,076.4 145.9 155.6\n(+) Increase in unit sales of image sensors for digital cameras and industrial equipment\n(+) Positive impact of exchange rates\n(–) Increased R&D and depreciation/amortization expenses\n(–) Decrease in sales of image sensors for mobile products\nFinancial Services 1,674.0 1,533.8 154.8 150.1 (–) One-time loss recorded at a subsidiary of Sony Life\n(+) Higher insurance premium revenue at Sony Life, reflecting increase in policy amount in force\nNote: _x0007_ Due to organizational changes as of April 1, 2021, from Q1 FY2021 Sony transferred some businesses and functions previously included within All Other and Corporate and elimination to the ET&S segment. On this page, sa",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000426_segments",
      "report_id": "ID_000426",
      "company_name": "Sony",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Game & Network Services, Music, Pictures, Electronics Products & Solutions, Imaging & Sensing Solutions, Financial Services",
      "golden_context": "Page 20:\n\nKey Drivers for Creating Value\n• Creativity\n• Technology\n• Diversity\nUnder Sony’s Purpose, to “fill the world with emotion, through the power of creativity and technology,” and\nto ensure that all of its employees are on the same vector when it comes to creating value from a long-term\nperspective, Sony has established four Values that are shared by all employees: “Dreams & Curiosity,” “Diversity,”\n“Integrity & Sincerity,” and “Sustainability.”\nTo generate Kando, Sony believes that it is essential to combine the creativity of creators, engineers and\nemployees with continuously-evolving technologies, as well as to create new value organically across all\nbusiness segments by bringing together diverse employees from various business areas, united by a shared\nPurpose and Values. Sony designates creativity, technology and diversity of employees and businesses as key\ndrivers for value creation.\nElectronics\n69\nConsolidated Sales and Operating Revenue / Sales Composition by Segment (%)\nNote: Sales compositions exclude sales within All Other/Corporate and elimination.\nInsurance\n6\nFinancial Services\n11\nHome Entertainment\nPictures\n8\n& Sound\nPictures\n24\nMusic\n8\n8\nFY2000\nFY2010\nGames\n９ ¥7,314.8\nbillion\nMusic\n7\n¥7,177.6\nbillion\nGames\n12\n13\nImaging\nProducts\n& Solutions\n9\n16\nDevices\nMobile Products\n& Communications\nFinancial Services\n15\nImaging &\nSensing\nSolutions\nFY2021\n11\n¥9,921.5\nbillion\n23\nEntertainment,\nTechnology &\nServices\n13\nPictures\n27\nGame &\nNetwork\nServices\n11\nMusic\nEndeavors to Create More Value\nUnification of Value-Creation Drivers\nLooking at its business portfolio, Sony has evolved into\na corporation with strength in its diversity of businesses,\nall of which have established solid market positions. This\ncan be seen as a result of long-term effort on the strength\nof value-creation drivers. The establishment of CBS/\nSony Records Inc. in 1968 was the beginning of Sony’s\nentertainment business. This laid the foundation for the\nGroup’s strategy going forward, that is, to develop software\nand hardware as the wheels on its drive axle, and led to\nits current principle of building on its strength of business\ndiversity. The financial services segment, which is the origin\nof Sony’s direct-to-consumer operations, is working to\nincrease the value provided to customers through Sony\nGroup technology and enhanced collaboration with other\nbusiness segments, putting its Lifeplanner sales specialists,\nwho from the beginning have always embodied its core\nvalue, at the center of operations. One of the world’s\nleading game ecosystems, PlayStation®, was built on joint\ninvestment by Sony’s music and electronics segments. It is\na good example of continuous value creation unifying the\nthree value-creation drivers.\nFocused Initiatives\nSony puts weight on value-creation drivers when investing\nmanagement resources. Since the start of the third mid-\nrange plan in FY2018 strategic investment targets have\nbeen set on content IP, DTC services, technology, and\nSony-owned equities. Over the four years since FY2018,\nSony has invested more than ¥1 trillion in content IP,\nwhich is the product of creativity, and DTC as the means to\ndeliver it. Sony is reinforcing technology and HR strategies\nfor each business segment as well as the entire Group\nin accordance with the evolution of the business. Sony’s\nPeople Philosophy, redefined in 2021 as “Special You,\nDiverse Sony,” clearly states that diversity is the foundation\nof Sony.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_cash_flow",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow excl. Financial Services: 415.5bn, investing cash flow excl. Financial Services: -1032.0bn",
      "golden_context": "Page 37:\n\nFinancial Highlights\nReview of FY2022\nIn FY2022, consolidated sales and financial services revenue grew by 16% year-on-year\nto 11,539.8 billion yen, while operating income was essentially flat at 1,208.2 billion yen.\nThis increase in sales was mainly due to the impact of foreign exchange rates in all\nsegments except the Financial Services segment, as well as an increase in sales in the\nG&NS segment due to an increase in sales of PS5TM hardware. Meanwhile, operating\nincome increased to a new record high, mainly due to non-recurring factors in the\nFinancial Services segment, the positive impact of foreign exchange rates in the I&SS\nsegment, and the contribution of higher revenues from paid subscription streaming\nservices in the Music segment. These gains were partially offset by the absence of a gain\nfrom the transfer of certain business operations in the Pictures segment recorded in the\nprevious fiscal year, as well as an increase in game software development costs and\nexpenses associated with acquisitions in the G&NS segment. Excluding the Financial\nServices segment, consolidated operating cash flow totaled 415.5 billion yen.\nNet income attributable to Sony Group Corporation’s stockholders for the period was\n937.1 billion yen, an increase of 54.9 billion yen compared with the previous fiscal year.\nFY2022 Sales / Financial Services Revenue and Operating Income by Segment\nFY2022 Consolidated Financial Results\n(Billion yen)\nFY20211 FY20221 Year-on-year Change\n(+/-)\nSales and Financial Services revenue 9,921.5 11,539.8 +1,618.3 (+16%)\nOperating income 1,202.3 1,208.2 +5.9 (+0%)\nIncome before income taxes 1,117.5 1,180.3 +62.8 (+6%)\nNet income attributable to Sony Group\nCorporation’s stockholders 882.2 937.1 +54.9 (+6%)\nOperating cash flow (excluding Financial Services)2 813.3 415.5 –397.8\nInvesting cash flow (excluding Financial Services)2 (711.1) (1,032.0) –320.9\nOperating CF + Investing CF\n(both excluding Financial Services)2 102.1 (616.6) –718.7\n1. Average exchange rates were 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY for FY2021, and 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022.\n2. Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2021 FY2022 FY2021 FY2022\nMain Factors in Operating Income Change\nG&NS 2,739.8 3,644.6 346.1 250.0\n(–) Increase in costs, mainly for game software development and expenses associated with acquisitions, including Bungie\n(–) Impact of decrease in sales of non-first-party titles, including add-on content\n(+) Impact of increase in sales of first-party titles\n(+) Decrease in losses from hardware\nMusic 1,116.9 1,380.6 210.9 263.1\n(+) Positive impact of foreign exchange rates\n(+) Impact of higher sales for Recorded Music and Music Publishing from paid subscription streaming services\n(+) Impact of litigation settlements received in relation to lawsuits for Recorded Music and Music Publishing\n(–) Impact of lower sales for Visual Media & Platform\nPictures 1,238.9 1,369.4 217.4 119.3\n(–) Absence of gain from the transfer of GSN Games business in previous fiscal year\n(–) Impact of decrease in theatrical revenues for Motion Pictures and lower licensing revenues for Television Productions as previous\nfiscal year benefited from the licensing of Seinfeld\nET&S 2,339.2 2,476.0 212.9 179.5 (–) Impact of lower sales revenue in televisions due to decrease in unit sales\n(+) Impact of higher sales revenue in digital cameras due to increase in unit sales\nI&SS 1,076.4 1,402.2 155.6 212.2\n(+) Positive impact of foreign exchange rates\n(+) Impact of increase in sales of image sensors, mainly for mobile products\n(–) Increases in R&D and depreciation/amortization, as well as manufacturing expenses\nFinancial Services 1,533.8 1,454.5 150.1 223.9\n(+) Absence of loss recorded due to an unauthorized withdrawal of funds in previous fiscal year and recovery of said funds in FY2022 at\na subsidiary of Sony Life\n(+) Significant increase in profits at Sony Life due to recognition of gain on sale of real estate and accumulation of policy amount\nin force\nNote: Effective from April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed the Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any reclassification of businesses across segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_company_type",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 5:\n\nA Creative Entertainment Company\nwith a Solid Foundation of Technology\nBusiness Segment Abbreviations\nG&NS: Game & Network Services\nET&S: Entertainment, Technology & Services\nI&SS: Imaging & Sensing Solutions\n©2023 Sony Group Corporation\n©2023 Sony Pictures Entertainment. All Rights Reserved.\n©Sony Music Entertainment (Japan) Inc.\n©Sony Music Solutions Inc. All rights reserved.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_key_financials",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales and Financial Services revenue: 11539.8bn, operating income: 1208.2bn, income before income taxes: 1180.3bn, operating cash flow excl. Financial Services: 415.5bn",
      "golden_context": "Page 37:\n\nFinancial Highlights\nReview of FY2022\nIn FY2022, consolidated sales and financial services revenue grew by 16% year-on-year\nto 11,539.8 billion yen, while operating income was essentially flat at 1,208.2 billion yen.\nThis increase in sales was mainly due to the impact of foreign exchange rates in all\nsegments except the Financial Services segment, as well as an increase in sales in the\nG&NS segment due to an increase in sales of PS5TM hardware. Meanwhile, operating\nincome increased to a new record high, mainly due to non-recurring factors in the\nFinancial Services segment, the positive impact of foreign exchange rates in the I&SS\nsegment, and the contribution of higher revenues from paid subscription streaming\nservices in the Music segment. These gains were partially offset by the absence of a gain\nfrom the transfer of certain business operations in the Pictures segment recorded in the\nprevious fiscal year, as well as an increase in game software development costs and\nexpenses associated with acquisitions in the G&NS segment. Excluding the Financial\nServices segment, consolidated operating cash flow totaled 415.5 billion yen.\nNet income attributable to Sony Group Corporation’s stockholders for the period was\n937.1 billion yen, an increase of 54.9 billion yen compared with the previous fiscal year.\nFY2022 Sales / Financial Services Revenue and Operating Income by Segment\nFY2022 Consolidated Financial Results\n(Billion yen)\nFY20211 FY20221 Year-on-year Change\n(+/-)\nSales and Financial Services revenue 9,921.5 11,539.8 +1,618.3 (+16%)\nOperating income 1,202.3 1,208.2 +5.9 (+0%)\nIncome before income taxes 1,117.5 1,180.3 +62.8 (+6%)\nNet income attributable to Sony Group\nCorporation’s stockholders 882.2 937.1 +54.9 (+6%)\nOperating cash flow (excluding Financial Services)2 813.3 415.5 –397.8\nInvesting cash flow (excluding Financial Services)2 (711.1) (1,032.0) –320.9\nOperating CF + Investing CF\n(both excluding Financial Services)2 102.1 (616.6) –718.7\n1. Average exchange rates were 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY for FY2021, and 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022.\n2. Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2021 FY2022 FY2021 FY2022\nMain Factors in Operating Income Change\nG&NS 2,739.8 3,644.6 346.1 250.0\n(–) Increase in costs, mainly for game software development and expenses associated with acquisitions, including Bungie\n(–) Impact of decrease in sales of non-first-party titles, including add-on content\n(+) Impact of increase in sales of first-party titles\n(+) Decrease in losses from hardware\nMusic 1,116.9 1,380.6 210.9 263.1\n(+) Positive impact of foreign exchange rates\n(+) Impact of higher sales for Recorded Music and Music Publishing from paid subscription streaming services\n(+) Impact of litigation settlements received in relation to lawsuits for Recorded Music and Music Publishing\n(–) Impact of lower sales for Visual Media & Platform\nPictures 1,238.9 1,369.4 217.4 119.3\n(–) Absence of gain from the transfer of GSN Games business in previous fiscal year\n(–) Impact of decrease in theatrical revenues for Motion Pictures and lower licensing revenues for Television Productions as previous\nfiscal year benefited from the licensing of Seinfeld\nET&S 2,339.2 2,476.0 212.9 179.5 (–) Impact of lower sales revenue in televisions due to decrease in unit sales\n(+) Impact of higher sales revenue in digital cameras due to increase in unit sales\nI&SS 1,076.4 1,402.2 155.6 212.2\n(+) Positive impact of foreign exchange rates\n(+) Impact of increase in sales of image sensors, mainly for mobile products\n(–) Increases in R&D and depreciation/amortization, as well as manufacturing expenses\nFinancial Services 1,533.8 1,454.5 150.1 223.9\n(+) Absence of loss recorded due to an unauthorized withdrawal of funds in previous fiscal year and recovery of said funds in FY2022 at\na subsidiary of Sony Life\n(+) Significant increase in profits at Sony Life due to recognition of gain on sale of real estate and accumulation of policy amount\nin force\nNote: Effective from April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed the Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any reclassification of businesses across segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_revenue",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Sales and Financial Services revenue: 11539.8bn",
      "golden_context": "Page 37:\n\nFinancial Highlights\nReview of FY2022\nIn FY2022, consolidated sales and financial services revenue grew by 16% year-on-year\nto 11,539.8 billion yen, while operating income was essentially flat at 1,208.2 billion yen.\nThis increase in sales was mainly due to the impact of foreign exchange rates in all\nsegments except the Financial Services segment, as well as an increase in sales in the\nG&NS segment due to an increase in sales of PS5TM hardware. Meanwhile, operating\nincome increased to a new record high, mainly due to non-recurring factors in the\nFinancial Services segment, the positive impact of foreign exchange rates in the I&SS\nsegment, and the contribution of higher revenues from paid subscription streaming\nservices in the Music segment. These gains were partially offset by the absence of a gain\nfrom the transfer of certain business operations in the Pictures segment recorded in the\nprevious fiscal year, as well as an increase in game software development costs and\nexpenses associated with acquisitions in the G&NS segment. Excluding the Financial\nServices segment, consolidated operating cash flow totaled 415.5 billion yen.\nNet income attributable to Sony Group Corporation’s stockholders for the period was\n937.1 billion yen, an increase of 54.9 billion yen compared with the previous fiscal year.\nFY2022 Sales / Financial Services Revenue and Operating Income by Segment\nFY2022 Consolidated Financial Results\n(Billion yen)\nFY20211 FY20221 Year-on-year Change\n(+/-)\nSales and Financial Services revenue 9,921.5 11,539.8 +1,618.3 (+16%)\nOperating income 1,202.3 1,208.2 +5.9 (+0%)\nIncome before income taxes 1,117.5 1,180.3 +62.8 (+6%)\nNet income attributable to Sony Group\nCorporation’s stockholders 882.2 937.1 +54.9 (+6%)\nOperating cash flow (excluding Financial Services)2 813.3 415.5 –397.8\nInvesting cash flow (excluding Financial Services)2 (711.1) (1,032.0) –320.9\nOperating CF + Investing CF\n(both excluding Financial Services)2 102.1 (616.6) –718.7\n1. Average exchange rates were 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY for FY2021, and 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022.\n2. Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2021 FY2022 FY2021 FY2022\nMain Factors in Operating Income Change\nG&NS 2,739.8 3,644.6 346.1 250.0\n(–) Increase in costs, mainly for game software development and expenses associated with acquisitions, including Bungie\n(–) Impact of decrease in sales of non-first-party titles, including add-on content\n(+) Impact of increase in sales of first-party titles\n(+) Decrease in losses from hardware\nMusic 1,116.9 1,380.6 210.9 263.1\n(+) Positive impact of foreign exchange rates\n(+) Impact of higher sales for Recorded Music and Music Publishing from paid subscription streaming services\n(+) Impact of litigation settlements received in relation to lawsuits for Recorded Music and Music Publishing\n(–) Impact of lower sales for Visual Media & Platform\nPictures 1,238.9 1,369.4 217.4 119.3\n(–) Absence of gain from the transfer of GSN Games business in previous fiscal year\n(–) Impact of decrease in theatrical revenues for Motion Pictures and lower licensing revenues for Television Productions as previous\nfiscal year benefited from the licensing of Seinfeld\nET&S 2,339.2 2,476.0 212.9 179.5 (–) Impact of lower sales revenue in televisions due to decrease in unit sales\n(+) Impact of higher sales revenue in digital cameras due to increase in unit sales\nI&SS 1,076.4 1,402.2 155.6 212.2\n(+) Positive impact of foreign exchange rates\n(+) Impact of increase in sales of image sensors, mainly for mobile products\n(–) Increases in R&D and depreciation/amortization, as well as manufacturing expenses\nFinancial Services 1,533.8 1,454.5 150.1 223.9\n(+) Absence of loss recorded due to an unauthorized withdrawal of funds in previous fiscal year and recovery of said funds in FY2022 at\na subsidiary of Sony Life\n(+) Significant increase in profits at Sony Life due to recognition of gain on sale of real estate and accumulation of policy amount\nin force\nNote: Effective from April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed the Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any reclassification of businesses across segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_revenue_growth",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and Financial Services revenue: 11539.8bn, prior year: 9921.5bn",
      "golden_context": "Page 37:\n\nFinancial Highlights\nReview of FY2022\nIn FY2022, consolidated sales and financial services revenue grew by 16% year-on-year\nto 11,539.8 billion yen, while operating income was essentially flat at 1,208.2 billion yen.\nThis increase in sales was mainly due to the impact of foreign exchange rates in all\nsegments except the Financial Services segment, as well as an increase in sales in the\nG&NS segment due to an increase in sales of PS5TM hardware. Meanwhile, operating\nincome increased to a new record high, mainly due to non-recurring factors in the\nFinancial Services segment, the positive impact of foreign exchange rates in the I&SS\nsegment, and the contribution of higher revenues from paid subscription streaming\nservices in the Music segment. These gains were partially offset by the absence of a gain\nfrom the transfer of certain business operations in the Pictures segment recorded in the\nprevious fiscal year, as well as an increase in game software development costs and\nexpenses associated with acquisitions in the G&NS segment. Excluding the Financial\nServices segment, consolidated operating cash flow totaled 415.5 billion yen.\nNet income attributable to Sony Group Corporation’s stockholders for the period was\n937.1 billion yen, an increase of 54.9 billion yen compared with the previous fiscal year.\nFY2022 Sales / Financial Services Revenue and Operating Income by Segment\nFY2022 Consolidated Financial Results\n(Billion yen)\nFY20211 FY20221 Year-on-year Change\n(+/-)\nSales and Financial Services revenue 9,921.5 11,539.8 +1,618.3 (+16%)\nOperating income 1,202.3 1,208.2 +5.9 (+0%)\nIncome before income taxes 1,117.5 1,180.3 +62.8 (+6%)\nNet income attributable to Sony Group\nCorporation’s stockholders 882.2 937.1 +54.9 (+6%)\nOperating cash flow (excluding Financial Services)2 813.3 415.5 –397.8\nInvesting cash flow (excluding Financial Services)2 (711.1) (1,032.0) –320.9\nOperating CF + Investing CF\n(both excluding Financial Services)2 102.1 (616.6) –718.7\n1. Average exchange rates were 1 USD = 112.3 JPY and 1 EUR = 130.5 JPY for FY2021, and 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022.\n2. Operating cash flow (excluding Financial Services) and investing cash flow (excluding Financial Services) are not measures in accordance\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\nwith IFRS. However, Sony believes that these disclosures may be useful information to investors.\n(Billion yen)\nSales / Financial Services Revenue Operating Income\nFY2021 FY2022 FY2021 FY2022\nMain Factors in Operating Income Change\nG&NS 2,739.8 3,644.6 346.1 250.0\n(–) Increase in costs, mainly for game software development and expenses associated with acquisitions, including Bungie\n(–) Impact of decrease in sales of non-first-party titles, including add-on content\n(+) Impact of increase in sales of first-party titles\n(+) Decrease in losses from hardware\nMusic 1,116.9 1,380.6 210.9 263.1\n(+) Positive impact of foreign exchange rates\n(+) Impact of higher sales for Recorded Music and Music Publishing from paid subscription streaming services\n(+) Impact of litigation settlements received in relation to lawsuits for Recorded Music and Music Publishing\n(–) Impact of lower sales for Visual Media & Platform\nPictures 1,238.9 1,369.4 217.4 119.3\n(–) Absence of gain from the transfer of GSN Games business in previous fiscal year\n(–) Impact of decrease in theatrical revenues for Motion Pictures and lower licensing revenues for Television Productions as previous\nfiscal year benefited from the licensing of Seinfeld\nET&S 2,339.2 2,476.0 212.9 179.5 (–) Impact of lower sales revenue in televisions due to decrease in unit sales\n(+) Impact of higher sales revenue in digital cameras due to increase in unit sales\nI&SS 1,076.4 1,402.2 155.6 212.2\n(+) Positive impact of foreign exchange rates\n(+) Impact of increase in sales of image sensors, mainly for mobile products\n(–) Increases in R&D and depreciation/amortization, as well as manufacturing expenses\nFinancial Services 1,533.8 1,454.5 150.1 223.9\n(+) Absence of loss recorded due to an unauthorized withdrawal of funds in previous fiscal year and recovery of said funds in FY2022 at\na subsidiary of Sony Life\n(+) Significant increase in profits at Sony Life due to recognition of gain on sale of real estate and accumulation of policy amount\nin force\nNote: Effective from April 2022, the former Electronics Products & Solutions (EP&S) segment has been renamed the Entertainment, Technology & Services (ET&S) segment. This change has not resulted in any reclassification of businesses across segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000427_segments",
      "report_id": "ID_000427",
      "company_name": "Sony",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Game & Network Services, Music, Pictures, Electronics Products & Solutions, Imaging & Sensing Solutions, Financial Services",
      "golden_context": "Page 26:\n\nKey Drivers for Creating Value\n• Creativity\n• Technology\n• Diversity\nAlongside its Purpose, to “fill the world with emotion, through the power of creativity and\ntechnology,” Sony has designated four Values, namely “Dreams & Curiosity,” “Diversity,”\n“Integrity & Sincerity,” and “Sustainability.”\nTo generate Kando, it is essential to combine the creativity of many people, including\ncreators and Sony employees, with continuously evolving technologies. It is vital, moreover,\nthat diverse people who share Sony’s Purpose & Values work together in various businesses\nand cooperate organically among themselves to create new value that transcends\norganizational borders. Based on these principles, Sony designates creativity, technology,\nand diversity as key drivers for value creation. It is evident from its history that Sony has\nalways evolved on the strength of diversity.\nAs their respective histories show, each of Sony’s businesses began to create new value\nfollowing an acquisition or joint venture, integrating diverse corporations and human\nresources. In the Music segment, the establishment of CBS/Sony Records in 1968 opened\nConsolidated Sales and Operating Revenue / Sales Composition by Segment (%)\nNote: Sales compositions exclude sales within All Other/Corporate and elimination\nInsurance\n6\nPictures\n8\nElectronics\n69\nMusic\n8\nFY2000\nGames\n９ 7,314.8\nbillion yen\nFinancial Services\n13\nI&SS\n11\n21\nET&S\nFY2022\n11,539.8\nbillion yen\n12\nPictures\nG&NS\n31\n12\nMusic\na way for Sony to simultaneously develop software and hardware. Sony’s Pictures business\nbegan with the acquisition of Columbia Pictures Entertainment Inc., and one of the world’s\nleading game ecosystems, PlayStation®, was built on joint investment by Sony’s music\nand electronics segments. The Financial Services business, meanwhile, was the origin of\nSony’s DTC business, and through a joint venture with The Prudential Insurance Company\nof America, built a unique business model around Lifeplanner sales specialists as the core\nvalue. The ET&S segment, on which Sony was founded, enhanced its camera operation\nwith a partial transfer of assets from Konica Minolta. Similarly, the acquisition of Hawk-Eye\nbecame the foundation for the growth of Sony’s sports entertainment business. Sony\ncontinues to grow its businesses through acquisitions and investments to partner with\nproduction studios, recording labels, and technology developers. It continues to explore\nnew businesses and develop technologies Group-wide with the future in mind. In this way\nSony creates many opportunities for diverse people and business units to collaborate and\nenhance value creation through creativity and technology.\nTo fulfill its Purpose, today Sony is putting effort into further integrating value-creation\ndrivers and focusing on allocating management resources appropriately. Collaboration\nacross the Group is becoming standard practice, and efforts to build IP value through\ncross-Group utilization and promotion, as well as cross-business projects for the shared\napplication of technology, regardless of segment borders, are increasing. In its People\nPhilosophy, “Special You, Diverse Sony,” Sony clearly states that diversity is its foundation\nfor human resources, and, in this spirit, is working to train global leaders for Group-wide\nmanagement. In R&D, Sony is reinforcing programs and facilities to promote dialogue\nand cooperation among people and businesses, with technology as the starting point. In\nFY2023 Sony instituted an organizational change to enhance collaboration between Group\nheadquarters and business units.\nThe Beginnings of Sony’s Business\n1946 ET&S Company established with electronics as founding business\n1954 I&SS Prototype of Japan’s first transistor developed\n1968 Music Domestic music business launched (CBS/Sony Records established)\n1979 Financial Services Financial Services business launched (Sony Prudential Life Insurance established)\n1988 Music Music business taken global (CBS Records acquired)\n1989 Pictures Motion picture business launched (Columbia Pictures acquired)\n1993 G&NS Game business launched (Sony Computer Entertainment established)\n2015 I&SS business split out (Sony Semiconductor Solutions established)\n2021 ET&S business split out (succeeding to the “Sony Corporation” company name)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_cash_flow",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 1177.7bn, investing: -794.2bn",
      "golden_context": "Page 41:\n\nFinancial Highlights\nReview of FY2023\nConsolidated sales and financial services revenue for FY2023 totaled 13,020.8 billion yen, up\n19% compared to the previous fiscal year (“year-on-year”) and is a new record. Operating\nincome was down 7% year-on-year, and stood at 1,208.8 billion yen, marking the third\nconsecutive year for which it was over 1 trillion yen. This increase in sales can be attributed\nmainly to the effects of market fluctuations in the Financial Services segment, an increase in\nsales of non-first-party titles (G&NS), higher revenues from streaming services (Music), and\nan increase in sales of image sensors for mobile products (I&SS). Despite the positive impact\nof increase in sales, operating income was down year-on-year due to the effect of market\nfluctuations for variable life insurance and other products (Financial Services), as well as\nhigher depreciation and amortization expenses along with costs associated with the launch\nof mass production of a new image sensor (I&SS). Excluding the Financial Services segment,\nconsolidated operating cash flow totaled 1,177.8 billion yen.\nNet income was 970.6 billion yen, a decrease of 34.7 billion yen compared to the previous\nfiscal year.\nFY2023 Sales / Financial Services Revenue and Operating Income by Segment\nSales / Financial Services Revenue Operating Income\nFY2023 Consolidated Financial Results (Billion yen)\nFY20221 FY20231 Year-on-year Change\n(+/-)\nConsolidated\nSales and Financial Services revenue 10,974.4 13,020.8 +2,046.4 (+19%)\nOperating income 1,302.4 1,208.8 –93.6 (–7%)\nNet income attributable to Sony Group\nCorporation’s stockholders 1,005.3 970.6 –34.7 (–3%)\nSony excluding Financial Services2\nSales 10,102.0 11,265.0 +1,163.1 (+12%)\nOperating income 983.3 1,035.3 +52.0 (+5%)\nOperating cash flow 415.5 1,177.8 +762.4\nInvesting cash flow (1,032.0) (794.2) +237.8\n1. _x0007_ Average exchange rates were 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022, and 1 USD = 144.4 JPY and 1 EUR = 156.6 JPY for FY2023.\n2. _x0007_ Figures for Sony excluding Financial Services are not measures in accordance with IFRS. However, Sony believes that these disclosures\nmay be useful information for investors.\n(Billion yen)\nFY2022 FY2023 FY2022 FY2023\nG&NS 3,644.6 4,267.7 250.0 290.2\nMain Factors Impacting Operating Income Change\n(+) Impact of increase in sales of non-first-party titles including add-on content\n(+) Positive impact of foreign exchange rates\n(–) Increase in losses from hardware mainly due to promotions\n(–) Impact of decrease in sales of first-party titles\nMusic 1,380.6 1,619.0 263.1 301.7\n(+) Impact of higher sales for Recorded Music and Music Publishing from streaming services\n(+) Positive impact of foreign exchange rates\n(–) Increase in selling, general, and administrative expenses\nPictures 1,369.4 1,493.1 119.3 117.7 (–) Impact of higher marketing costs in support of greater number of theatrical releases\n(+) Larger number of theatrical releases and higher revenues from Crunchyroll due to growth in paid subscriptions\nET&S 2,476.0 2,453.7 179.5 187.4\n(+) Positive impact of foreign exchange rates\n(+) Reductions in operating expenses\n(–) Impact of lower unit sales of televisions\nI&SS 1,402.2 1,602.7 212.2 193.5\n(–) Increase in depreciation and amortization expenses\n(–) Increase in costs associated with launch of mass production of new image sensors for mobile products\n(+) Impact of increase in sales of image sensors for mobile products\n(+) Positive impact of foreign exchange rates\nFinancial Services 889.1 1,770.0 318.1 173.6\n(–) _x0007_ Decrease in net gains in Sony Life related to market fluctuations for variable life insurance and other products, as well as gains on\nreal-estate sales recorded in previous fiscal year\n(–) Recovery of an unauthorized withdrawal of funds at a subsidiary of Sony Life in previous fiscal year\n(+) Recording of realized and remeasurement gains resulting from transfer of a portion of shares of Sony Payment Services\nNotes: 1. Sony has adopted IFRS 17 “Insurance Contracts” (IFRS 17) from Q1 FY2023, in lieu of the previously applied IFRS 4 “Insurance Contracts” (IFRS 4). Figures for FY2022 are restated in accordance with IFRS 17 (unless otherwise specified, applies to all following pages).\n2. _x0007_ Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated. Operating income in each business segment represents operating income reported before intersegment transactions are\neliminated and excludes unallocated corporate expenses. These conditions apply to all following pages, unless otherwise specified.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_company_type",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Inc",
      "golden_context": "Page 4:\n\nusiness Segment Abbreviations\nG&NS: Game & Network Services\nET&S: Entertainment, Technology & Services\nI&SS: Imaging & Sensing Solutions\n©2023 Sony Group Corporation\n©_x0007_ 2024 Sony Pictures Entertainment. All Rights Reserved.\nMARVEL and all related character names: © & TM 2024 MARVEL.\n©Sony Music Entertainment (Japan) Inc.\n©Sony Music Solutions Inc. All rights reserved.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_key_financials",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales and Financial Services revenue: 13020.8bn, operating income: 1208.8bn, net income: 970.6bn",
      "golden_context": "Page 41:\n\nFinancial Highlights\nReview of FY2023\nConsolidated sales and financial services revenue for FY2023 totaled 13,020.8 billion yen, up\n19% compared to the previous fiscal year (“year-on-year”) and is a new record. Operating\nincome was down 7% year-on-year, and stood at 1,208.8 billion yen, marking the third\nconsecutive year for which it was over 1 trillion yen. This increase in sales can be attributed\nmainly to the effects of market fluctuations in the Financial Services segment, an increase in\nsales of non-first-party titles (G&NS), higher revenues from streaming services (Music), and\nan increase in sales of image sensors for mobile products (I&SS). Despite the positive impact\nof increase in sales, operating income was down year-on-year due to the effect of market\nfluctuations for variable life insurance and other products (Financial Services), as well as\nhigher depreciation and amortization expenses along with costs associated with the launch\nof mass production of a new image sensor (I&SS). Excluding the Financial Services segment,\nconsolidated operating cash flow totaled 1,177.8 billion yen.\nNet income was 970.6 billion yen, a decrease of 34.7 billion yen compared to the previous\nfiscal year.\nFY2023 Sales / Financial Services Revenue and Operating Income by Segment\nSales / Financial Services Revenue Operating Income\nFY2023 Consolidated Financial Results (Billion yen)\nFY20221 FY20231 Year-on-year Change\n(+/-)\nConsolidated\nSales and Financial Services revenue 10,974.4 13,020.8 +2,046.4 (+19%)\nOperating income 1,302.4 1,208.8 –93.6 (–7%)\nNet income attributable to Sony Group\nCorporation’s stockholders 1,005.3 970.6 –34.7 (–3%)\nSony excluding Financial Services2\nSales 10,102.0 11,265.0 +1,163.1 (+12%)\nOperating income 983.3 1,035.3 +52.0 (+5%)\nOperating cash flow 415.5 1,177.8 +762.4\nInvesting cash flow (1,032.0) (794.2) +237.8\n1. _x0007_ Average exchange rates were 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022, and 1 USD = 144.4 JPY and 1 EUR = 156.6 JPY for FY2023.\n2. _x0007_ Figures for Sony excluding Financial Services are not measures in accordance with IFRS. However, Sony believes that these disclosures\nmay be useful information for investors.\n(Billion yen)\nFY2022 FY2023 FY2022 FY2023\nG&NS 3,644.6 4,267.7 250.0 290.2\nMain Factors Impacting Operating Income Change\n(+) Impact of increase in sales of non-first-party titles including add-on content\n(+) Positive impact of foreign exchange rates\n(–) Increase in losses from hardware mainly due to promotions\n(–) Impact of decrease in sales of first-party titles\nMusic 1,380.6 1,619.0 263.1 301.7\n(+) Impact of higher sales for Recorded Music and Music Publishing from streaming services\n(+) Positive impact of foreign exchange rates\n(–) Increase in selling, general, and administrative expenses\nPictures 1,369.4 1,493.1 119.3 117.7 (–) Impact of higher marketing costs in support of greater number of theatrical releases\n(+) Larger number of theatrical releases and higher revenues from Crunchyroll due to growth in paid subscriptions\nET&S 2,476.0 2,453.7 179.5 187.4\n(+) Positive impact of foreign exchange rates\n(+) Reductions in operating expenses\n(–) Impact of lower unit sales of televisions\nI&SS 1,402.2 1,602.7 212.2 193.5\n(–) Increase in depreciation and amortization expenses\n(–) Increase in costs associated with launch of mass production of new image sensors for mobile products\n(+) Impact of increase in sales of image sensors for mobile products\n(+) Positive impact of foreign exchange rates\nFinancial Services 889.1 1,770.0 318.1 173.6\n(–) _x0007_ Decrease in net gains in Sony Life related to market fluctuations for variable life insurance and other products, as well as gains on\nreal-estate sales recorded in previous fiscal year\n(–) Recovery of an unauthorized withdrawal of funds at a subsidiary of Sony Life in previous fiscal year\n(+) Recording of realized and remeasurement gains resulting from transfer of a portion of shares of Sony Payment Services\nNotes: 1. Sony has adopted IFRS 17 “Insurance Contracts” (IFRS 17) from Q1 FY2023, in lieu of the previously applied IFRS 4 “Insurance Contracts” (IFRS 4). Figures for FY2022 are restated in accordance with IFRS 17 (unless otherwise specified, applies to all following pages).\n2. _x0007_ Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated. Operating income in each business segment represents operating income reported before intersegment transactions are\neliminated and excludes unallocated corporate expenses. These conditions apply to all following pages, unless otherwise specified.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_revenue",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Sales and Financial Services revenue: 13020.8bn",
      "golden_context": "Page 41:\n\nFinancial Highlights\nReview of FY2023\nConsolidated sales and financial services revenue for FY2023 totaled 13,020.8 billion yen, up\n19% compared to the previous fiscal year (“year-on-year”) and is a new record. Operating\nincome was down 7% year-on-year, and stood at 1,208.8 billion yen, marking the third\nconsecutive year for which it was over 1 trillion yen. This increase in sales can be attributed\nmainly to the effects of market fluctuations in the Financial Services segment, an increase in\nsales of non-first-party titles (G&NS), higher revenues from streaming services (Music), and\nan increase in sales of image sensors for mobile products (I&SS). Despite the positive impact\nof increase in sales, operating income was down year-on-year due to the effect of market\nfluctuations for variable life insurance and other products (Financial Services), as well as\nhigher depreciation and amortization expenses along with costs associated with the launch\nof mass production of a new image sensor (I&SS). Excluding the Financial Services segment,\nconsolidated operating cash flow totaled 1,177.8 billion yen.\nNet income was 970.6 billion yen, a decrease of 34.7 billion yen compared to the previous\nfiscal year.\nFY2023 Sales / Financial Services Revenue and Operating Income by Segment\nSales / Financial Services Revenue Operating Income\nFY2023 Consolidated Financial Results (Billion yen)\nFY20221 FY20231 Year-on-year Change\n(+/-)\nConsolidated\nSales and Financial Services revenue 10,974.4 13,020.8 +2,046.4 (+19%)\nOperating income 1,302.4 1,208.8 –93.6 (–7%)\nNet income attributable to Sony Group\nCorporation’s stockholders 1,005.3 970.6 –34.7 (–3%)\nSony excluding Financial Services2\nSales 10,102.0 11,265.0 +1,163.1 (+12%)\nOperating income 983.3 1,035.3 +52.0 (+5%)\nOperating cash flow 415.5 1,177.8 +762.4\nInvesting cash flow (1,032.0) (794.2) +237.8\n1. _x0007_ Average exchange rates were 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022, and 1 USD = 144.4 JPY and 1 EUR = 156.6 JPY for FY2023.\n2. _x0007_ Figures for Sony excluding Financial Services are not measures in accordance with IFRS. However, Sony believes that these disclosures\nmay be useful information for investors.\n(Billion yen)\nFY2022 FY2023 FY2022 FY2023\nG&NS 3,644.6 4,267.7 250.0 290.2\nMain Factors Impacting Operating Income Change\n(+) Impact of increase in sales of non-first-party titles including add-on content\n(+) Positive impact of foreign exchange rates\n(–) Increase in losses from hardware mainly due to promotions\n(–) Impact of decrease in sales of first-party titles\nMusic 1,380.6 1,619.0 263.1 301.7\n(+) Impact of higher sales for Recorded Music and Music Publishing from streaming services\n(+) Positive impact of foreign exchange rates\n(–) Increase in selling, general, and administrative expenses\nPictures 1,369.4 1,493.1 119.3 117.7 (–) Impact of higher marketing costs in support of greater number of theatrical releases\n(+) Larger number of theatrical releases and higher revenues from Crunchyroll due to growth in paid subscriptions\nET&S 2,476.0 2,453.7 179.5 187.4\n(+) Positive impact of foreign exchange rates\n(+) Reductions in operating expenses\n(–) Impact of lower unit sales of televisions\nI&SS 1,402.2 1,602.7 212.2 193.5\n(–) Increase in depreciation and amortization expenses\n(–) Increase in costs associated with launch of mass production of new image sensors for mobile products\n(+) Impact of increase in sales of image sensors for mobile products\n(+) Positive impact of foreign exchange rates\nFinancial Services 889.1 1,770.0 318.1 173.6\n(–) _x0007_ Decrease in net gains in Sony Life related to market fluctuations for variable life insurance and other products, as well as gains on\nreal-estate sales recorded in previous fiscal year\n(–) Recovery of an unauthorized withdrawal of funds at a subsidiary of Sony Life in previous fiscal year\n(+) Recording of realized and remeasurement gains resulting from transfer of a portion of shares of Sony Payment Services\nNotes: 1. Sony has adopted IFRS 17 “Insurance Contracts” (IFRS 17) from Q1 FY2023, in lieu of the previously applied IFRS 4 “Insurance Contracts” (IFRS 4). Figures for FY2022 are restated in accordance with IFRS 17 (unless otherwise specified, applies to all following pages).\n2. _x0007_ Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated. Operating income in each business segment represents operating income reported before intersegment transactions are\neliminated and excludes unallocated corporate expenses. These conditions apply to all following pages, unless otherwise specified.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_revenue_growth",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and Financial Services revenue: 13020.8bn, prior year: 10974.4bn",
      "golden_context": "Page 41:\n\nFinancial Highlights\nReview of FY2023\nConsolidated sales and financial services revenue for FY2023 totaled 13,020.8 billion yen, up\n19% compared to the previous fiscal year (“year-on-year”) and is a new record. Operating\nincome was down 7% year-on-year, and stood at 1,208.8 billion yen, marking the third\nconsecutive year for which it was over 1 trillion yen. This increase in sales can be attributed\nmainly to the effects of market fluctuations in the Financial Services segment, an increase in\nsales of non-first-party titles (G&NS), higher revenues from streaming services (Music), and\nan increase in sales of image sensors for mobile products (I&SS). Despite the positive impact\nof increase in sales, operating income was down year-on-year due to the effect of market\nfluctuations for variable life insurance and other products (Financial Services), as well as\nhigher depreciation and amortization expenses along with costs associated with the launch\nof mass production of a new image sensor (I&SS). Excluding the Financial Services segment,\nconsolidated operating cash flow totaled 1,177.8 billion yen.\nNet income was 970.6 billion yen, a decrease of 34.7 billion yen compared to the previous\nfiscal year.\nFY2023 Sales / Financial Services Revenue and Operating Income by Segment\nSales / Financial Services Revenue Operating Income\nFY2023 Consolidated Financial Results (Billion yen)\nFY20221 FY20231 Year-on-year Change\n(+/-)\nConsolidated\nSales and Financial Services revenue 10,974.4 13,020.8 +2,046.4 (+19%)\nOperating income 1,302.4 1,208.8 –93.6 (–7%)\nNet income attributable to Sony Group\nCorporation’s stockholders 1,005.3 970.6 –34.7 (–3%)\nSony excluding Financial Services2\nSales 10,102.0 11,265.0 +1,163.1 (+12%)\nOperating income 983.3 1,035.3 +52.0 (+5%)\nOperating cash flow 415.5 1,177.8 +762.4\nInvesting cash flow (1,032.0) (794.2) +237.8\n1. _x0007_ Average exchange rates were 1 USD = 135.4 JPY and 1 EUR = 140.9 JPY for FY2022, and 1 USD = 144.4 JPY and 1 EUR = 156.6 JPY for FY2023.\n2. _x0007_ Figures for Sony excluding Financial Services are not measures in accordance with IFRS. However, Sony believes that these disclosures\nmay be useful information for investors.\n(Billion yen)\nFY2022 FY2023 FY2022 FY2023\nG&NS 3,644.6 4,267.7 250.0 290.2\nMain Factors Impacting Operating Income Change\n(+) Impact of increase in sales of non-first-party titles including add-on content\n(+) Positive impact of foreign exchange rates\n(–) Increase in losses from hardware mainly due to promotions\n(–) Impact of decrease in sales of first-party titles\nMusic 1,380.6 1,619.0 263.1 301.7\n(+) Impact of higher sales for Recorded Music and Music Publishing from streaming services\n(+) Positive impact of foreign exchange rates\n(–) Increase in selling, general, and administrative expenses\nPictures 1,369.4 1,493.1 119.3 117.7 (–) Impact of higher marketing costs in support of greater number of theatrical releases\n(+) Larger number of theatrical releases and higher revenues from Crunchyroll due to growth in paid subscriptions\nET&S 2,476.0 2,453.7 179.5 187.4\n(+) Positive impact of foreign exchange rates\n(+) Reductions in operating expenses\n(–) Impact of lower unit sales of televisions\nI&SS 1,402.2 1,602.7 212.2 193.5\n(–) Increase in depreciation and amortization expenses\n(–) Increase in costs associated with launch of mass production of new image sensors for mobile products\n(+) Impact of increase in sales of image sensors for mobile products\n(+) Positive impact of foreign exchange rates\nFinancial Services 889.1 1,770.0 318.1 173.6\n(–) _x0007_ Decrease in net gains in Sony Life related to market fluctuations for variable life insurance and other products, as well as gains on\nreal-estate sales recorded in previous fiscal year\n(–) Recovery of an unauthorized withdrawal of funds at a subsidiary of Sony Life in previous fiscal year\n(+) Recording of realized and remeasurement gains resulting from transfer of a portion of shares of Sony Payment Services\nNotes: 1. Sony has adopted IFRS 17 “Insurance Contracts” (IFRS 17) from Q1 FY2023, in lieu of the previously applied IFRS 4 “Insurance Contracts” (IFRS 4). Figures for FY2022 are restated in accordance with IFRS 17 (unless otherwise specified, applies to all following pages).\n2. _x0007_ Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated. Operating income in each business segment represents operating income reported before intersegment transactions are\neliminated and excludes unallocated corporate expenses. These conditions apply to all following pages, unless otherwise specified.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000428_segments",
      "report_id": "ID_000428",
      "company_name": "Sony",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "All Other, G& NS, Music, Pictures, ET&S, I&SS, Financial Services",
      "golden_context": "Page 19:\n\nProgress with Creation Shift\nFinancial\nServices\n14%\nDevices\n12%\nSales Growth in Entertainment Businesses\n(Component ratio of total sales per segment1) (Chart 1)\nAll Other\n8%\nGame\n10%\nMusic\n6%\nFinancial\nServices\n13%\nAll Other\n1%\nPictures\n10%\nI&SS\n12%\nFY2012 FY2023\nIP&S\n10%\nG&NS\n32%\nET&S\n18%\nMusic\n12%\nHE&S\n14%\nMP&C\n17%\nPictures\n11%\nIP&S: Imaging Products & Solutions 1. Due to rounding, individual sums aren’t 100%.\nMP&C: Mobile Products & Communications Breakdown of Strategic Investment\nover Last Six Years\n(Chart 2)\nOthers\n35%\nDTC\n8% Content IP\n57%\nHE&S: Home Entertainment & Sound\nGlobal Music Production Market Sales\n(Chart 3)\n■ Digital\n■ Physical\n■ Other2\nComposition of Sales in U.S.\nMusic Production Market\n(Chart 4)\n■ New Songs3\n■ Catalog4\n73%\n60%\n2016 2017 2018 2019 2020 2021 2022 2023\nSource: IFPI\n2. Including performance rights and synchronization\n2016 2023\nSource: Luminate\n3. Titles released up to 18 months ago\n4. Titles released more than 18 months ago\nRecent Changes\nIn recent years Sony has accelerated the growth of its\nentertainment businesses. Since FY2018, when Kenichiro\nYoshida took on his role as CEO, Sony has been accelerating\nefforts to reinforce its entertainment businesses, which, driven\nby the Kando in its Purpose, move people’s hearts through\ngames, music, and pictures. The proportion of Sony’s total\nsales comprised by the entertainment businesses, consisting\nof G&NS, Music and Pictures, increased from 26% in FY2012\nto 55% in FY2023 (Chart 1). In addition to the evolution of this\nbusiness portfolio, this change can be attributed in large part\nto investment accompanying Sony’s shift of direction toward\ncreation, which places more emphasis on creators under the\nmanagement direction of “getting closer to people.” Of Sony’s\n2.4 trillion yen in total strategic investment over the past six\nyears, content IP accounts for 57%, and DTC, which delivers\ncontent IP to users, for 8%. Strategic investment related to\ncontent IP has gone mainly into acquiring corporations with\nimportant IP assets as well as IP development and production\nstudios. Including the acquisition of music catalogs and other\nexpenses, the total investment in content IP over the past six\nyears stands at roughly 1.5 trillion yen.\nSony’s creation shift is shown in its balance sheet. Intangible\nassets and goodwill as of the end of FY2023 were 4 trillion yen,\napproximately 2.9 times that of 10 years ago. Content IP like\nmusic catalogs and character rights comprises highly liquid,\nquality assets that can generate profit and cash over longer\nterms more efficiently than tangible fixed assets. Sony’s ratio of\nintangible assets to tangible fixed assets has also grown, from\na factor of 1.8 to 2.6 over ten years, illustrating the shift in asset\ncomponents.\nValue Creation on the Creative Side\nLooking at the external environment, the entertainment market\nis clearly growing with the spread of streaming services and\nthe like, and particularly the global music market has been\ngrowing (Chart 3). Within that trend the value of content IP is\nrising. While Sony previously focused on the distribution side\nof business, delivering Kando through sales of hardware and\npackaged media, today it has shifted its focus to the creative\nside of Kando.\nThis shift is present in Sony’s profit structure as well. The\nvalue of the content IP Sony acquires or creates is contributing\nmore than ever, through licensing revenue. In the Music and\nPictures segments the value of both new and older titles is\nincreasing. For example, in 2023, the share of songs in the\nUS music production market that were released more than 18\nmonths ago accounted for 73% (Chart 4). In this way, continuous\nreleases of hit content lead not only to single-year profits,\nbut to the expansion of the profit base for the future as well,\ncontributing to the sustainable growth of corporate value.\nThis is why Sony continues putting effort into the creation and\ncultivation of content IP.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_cash_flow",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "cash flows from operating activities: 793.1bn",
      "golden_context": "Page 26:\n\n\nEnvironmental\nvalue\nEconomic\nvalue\nResolve social and management issues by\nfocusing on three key areas\nEnvironment\nResilience\nSecurity & Safety\nBusiness Performance\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nNet income attributable to Hitachi, Ltd. stockholders\nOverseas revenues ratio\nCash flows from operating activities\nROIC\nPerformance by Segment\nSegment\nItem\nIT\nEnergy\nIndustry\nMobility\nSmart Life\nAutomotive\nSystems\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted Operating income / ratio\nEBIT / EBIT ratio\nROIC\n*Announced on July 30, 2021\n24 Hitachi Integrated Report 2021\nFY2019 results\n8,767.2 billion yen\n661.8 billion yen / 7.5%\n183.6 billion yen / 2.1%\n87.5 billion yen\n48 %\n560.9 billion yen\n9.4 %\nFY2019 results\n2,099. 4 billion yen\n249.4 billion yen / 11.9%\n214.4 billion yen / 10.2%\n18.4%\n399.2 billion yen\n13.5 billion yen / 3.4%\n(375.7) billion yen / (94.1)%\n6.4 %\n840.7 billion yen\n54.7 billion yen / 6.5%\n57.8 billion yen / 6.9%\n8.6 %\n1,144.4 billion yen\n92.3 billion yen / 8.1%\n112.3 billion yen / 9.8%\n11.3%\n2,1667.6 billion yen\n118.9 billion yen / 5.5%\n90.0 billion yen / 4.2%\n8.0 %\n-\nFY2020 results\n8,729.1 billion yen\n495. 1 billion yen / 5.7%\n850.2 billion yen / 9.7%\n501.66 billion yen\n52 %\n793.1 billion yen\n6.4 %\nFY2020 results\n2,048.7 billion yen\n269.4 billion yen / 13.2%\n244.8 billion yen / 12.0%\n17.8 %\n1,107.9 billion yen\n(47.7) billion yen / (4.3)%\n(55.5) billion yen/ (5.0)%\n(2.7)%\n830. 1 billion yen\n45.5 billion yen / 5.5%\n42.3 billion yen / 5.1%\n6.1 %\n1,199.6 billion yen\n74.7 billion yen / 6.2%\n129.0 billion yen / 10.8%\n8.9 %\n1,252.7 billion yen\n79.4 billion yen / 6.3%\n202.1 billion yen / 16.1%\n8.7 %\n987.5 billion yen\n34.7 billion yen / 3.5%\n4.3 billion yen / 0.4%\n3.1 %\nFY2021 forecast*\n9,500.0 billion yen\n740.0 billion yen / 7.8%\n820.0 billion yen / 8.6%\n550.0 billion yen\n750.0 billion yen\n8.3 %\nFY2021 forecast*\n2,200.0 billion yen\n263.0 billion yen / 12.0%\n246.0 billion yen / 11.2%\n12.7 %\n1,320.0 billion yen\n30.0 billion yen / 2.3%\n37.0 billion yen / 2.8%\n1.9 %\n850.0 billion yen\n69.0 billion yen / 8.1%\n59.0 billion yen / 6.9%\n8.7 %\n1,250.0 billion yen\n102.0 billion yen / 8.2%\n124.0 billion yen / 9.9%\n10.2 %\n1,000.O billion yen\n97.0 billion yen / 9.7%\n150.0 billion yen / 15.0%\n10.8 %\n1,600.0 billion yen\n97.0 billion yen / 6.1%\n76.0 billion yen / 4.8%\n6.3 %\n\n\nInputs for Promoting Strategy\nIN\nStrategy 1\n• Grow Highly Profitable Businesses\nwith Digital Technology\n• Achieve Robust Growth in the Lumada\nBusiness\n• Further Acceleration of Global Rollout\n• Hitachi's Strengths in DX for Social\nInfrastructures\n• The Chain of Value Creation and Expansion\nto Ecosystems That Initiate Cycles\n• Strengthening and Training Talent That\nDrives the Social Innovation Business\n• Examples of Value Creation through\nLumada Solutions\n• Expanding the Social Innovation Business\nby Entrenching the Value of Co-Creation\n• Creation of Social and Environmental\nValue\n• Become a Climate Change Innovator\n• Realization of a Decarbonized Society\nExpand Revenues by Accelerating the Social Innovation Business\nKPI\nRevenues of Lumada business\nLumada core business\nLumada related business\nFY2019\n1,037.0 billion yen\n593.0 billion yen\n444.0 billion yen\nFY2020\n1,110.0 billion yen\n672.0 billion yen\n438.0 billion yen\nCustomer cases\nOver 1,000\nSolution cores\nOver 85\nDigital talent\nLumada overseas revenue ratio\nReduction rate in COz emissions per unit\n(products and services) (compared with FY2010)\nReduction rate in total COz emissions\nat business sites (factories and offices)\n(compared with FY2010)\neduction rate in water use per un\nompared with FY201(\nReduction rate in waste and valuables\ngeneration per unit (compared with FY2010)\n30,000\nApprox. 40%\n35,000\nApprox. 30%\n19%\n20%\n17%\n39%\n26%\n24%\n14%\n14%\nStrategy 2\n• Hitachi's R&D\n- Value-based Innovation\n• The Strength of Hitachi's R&D\n• Strengthening R&D and Future Directions\nEnhance Global Competitiveness\nKPI\nR&D expenses to sales revenues ratio\nRatio of non-Japanese executives*\n• Further Evolution of Lumada\n• Initiatives in Intellectual Properties\nRatio of female executives*\nFY2019\n3.4%\n8.6%\n7.1%\n700\nFY2020\n3.4%\n11.6%\n10.1%\n768\nNumber of female managers\nEngagement indicator of employee survey\n• Global Human Capital that Provides\nValue to Society through the Social\nInnovation Business\n• Global Human Capital Management Strategy\n• Diversity & Inclusion\n• Target and Actions for Diversity & Inclusion\n• Framework for Global Human Capital\nManagement\n• Building Workplaces That Offer Job\nSatisfaction\n60%\n62%\n*Executive officers, Corporate officers, and Fellows\nStrategy 3\nReinforce Management System to Improve Profitability\n• Progress of ROIC Management\n• Financial and Capital Strategy\n• Capital Allocation\n• Strengthening the Management\nBase through the Standardization\nof Global Operations\nKPI\nFY2019\nFY2020\nROIC\nAdjusted operating income ratio\nOperating cash flows\nGrowth Investment\n9.4%\n6.4%\n7.5%\n5.7%\n560.9 billion yen\n793. 1 bilion yen\nApprox. 200.0 billion yen Approx. 1,700.0 billion yen\nVision\nValue Creation\nSust\ntainability\n25\n\n\nCOO Message\nCreating a Growth Story for the Next 10 Years\nwith the Lumada Business at the Core\nQ\nYou were appointed President and COO in\nJune of this year. Can you tell us about\nyour aspirations for this position?\nFor about 10 years following the financial crisis that began with\nthe collapse of Lehman Brothers, successive management teams\nimplemented drastic structural reforms to transform Hitachi into\na global company. They took a number of steps to accomplish\nthis, one of the most prominent examples was the restructuring\nof the company's business portfolio. Now that these structural\nreforms have had time to take effect and serve as the foundation\nfor growth, we are approaching a business portfolio that is well-\nequipped for future success. My mission is to create a path for\nHitachi's continued growth over the next 10 years based on this\nfoundation. This is very satisfying and meaningful work.\nBack when I was serving as CTO, Mr. Nakanishi, the former\nExecutive Chairman, communicated a strong message to me\nwhen he told me that \"the Social Innovation Business is Hitachi's\ncore.\" This stuck with me and ever since I have worked to\nexecute reforms at research laboratories worldwide to strengthen\nHitachi's innovation capabilities. First, I undertook a major change\nin direction as I prioritized creating an R&D structure close to\nsociety and the customers. Specifically, rather than using the\nconventional approach of creating products as an extension of\nfundamental research and elemental technologies, I encouraged\nan approach of identifying social issues and back-casting from\nfuture forecasts to define our key research themes. Ever since we\nbegan the Lumada business in 2016, we have invested immense\nenergy into expanding this business. Since my first encounter\nwith database research, I have been confident that data was an\nimmensely valuable resource which would be a driving force that\ncould change the world. Now that we are approaching the final\nform of the business portfolio, we will create and follow a path\nin which the Lumada business serves as a driver for Hitachi to\nachieve the next stage of growth.\nKeiji Kojima\nPresident & COO\nQ\nPlease tell us about the direction and key\ninitiatives driving the creation of the next\nMid-term Management Plan.\nTo guide future growth, we must tie the assets acquired\nthrough large-scale M&As into a comprehensive plan to\nsteadily increase corporate value. The key words in this\nregard are simplicity, digitalization, and globalization of\nmanagement.\n26 Hitachi Integrated Report 2021\n\n\nHitachi's business can be separated into three main\ncategories: IT, projects,\nand design/manufacturing.\nManagement must be simple to ensure the efficient use\nof assets characterized by different risks and\ngrowth\nmechanisms. Acting with speed is also crucial in achieving\ncontinued growth that keeps pace with changes in the world\nat large. Finally, the effective use of digital technologies in\nmanagement is key to increasing speed.\nThe structural reforms that Hitachi has implemented have\nbeen executed to achieve global growth. We are promoting\nintegration with overseas companies that have recently\njoined the Hitachi Group, including Hitachi ABB Power Grids\nand GlobalLogic, and we are making a full-scale shift toward\nmanagement from a global perspective. We are building\nan operational structure that will enable us to demonstrate\neffective Group synergies, while at the same time preserving\nthe speed and culture of a top global company. To do this,\neven as we press forward with the globalization of existing\nHead Office functions, we will further accelerate growth\nby establishing smaller global corporate functions in each\nregion to complement those Head Office functions.\nYou said that the Lumada business holds\nthe key to growth. How much progress do\nyou think has been made toward realizing\nthe future vision for this business?\nTo me, the starting point for Lumada is co-creation with\ncustomers aimed at resolving social issues. When we began\nLumada, we said that researchers would share social issues\nwith customers and undertake co-creation to resolve those\nissues, and then transfer the insight gained from these\nframeworks and systems to the business side, to provide them\nin the form of the Social Innovation Business. Up to now, we\nhave expanded co-creation-style Sl with a particular focus\non the IT sector and have used this approach to vigorously\npromote the Lumada business. The IT sector has grown to\nthe point where it currently generates about half of Hitachi's\nincome, but it only accounts for about 20% of sales. Our next\nmanagement goal is to accelerate the digitalization of project\nand design/manufacturing assets, which account for most of\nthe Hitachi Group's sales. Digitalization is moving forward in\nbusinesses that demonstrate a strong affinity with the Lumada\nbusiness,\nsuch as the Building Systems Business Unit.\nHowever, from this point onward we will go one step further,\nplacing all of Hitachi's businesses on the Lumada platform to\naccelerate growth. In addition, we need to promote full-scale\nglobalization, mainly through Hitachi Vantara, which drives the\nLumada business on a global scale. In that sense, I would\nsay that right now, we have achieved 30% or 40% of our\n\"aspirations.\"\nHitachi ABB Power Grids, which we acquired last year, is\npositioned not as a business in the Energy sector but rather\nas a core business that supports the environment, one of\nthe three fields where we can demonstrate growth through\nLumada.\nAs we move forward toward our goal of carbon\nneutrality for the Hitachi Group as a whole, Hitachi ABB Power\nGrids has an important role to play as a crosscutting business\nthat creates synergies with all sectors. GlobalLogic is similar in\nthat its business demonstrates great value and synergies with\nall sectors. We will link these newly secured resources with all\nour businesses while working to accelerate global expansion\nand growth in the Lumada business.\nVision\nMoving forward, what are the main markets\nand fields where you expect to see the most\ngrowth in the Lumada business?\nThe markets where I expect to see the most growth are\nNorth America and India. North America-particularly the\nUnited States-is investing aggressively in infrastructure,\nand various domestic industries are seeing a recovery, so l\nsee this as a growth market with huge potential. India, which\nhas become the world's largest source of digital talent, is\nalso a key area that we approach alongside North America\nas we work to expand the Lumada business. Japan also\nhas many companies that create outstanding products, so l\nthink this market has great potential as well.\nThe sectors that demonstrate the greatest growth potential\ninclude the Industry sector and the Smart Life sector,\nespecially the field of genetic engineering, which includes\nregenerative medicine and iPS cells.\nValue Creation\nSustainability\nQ\nIn closing, please tell us President\nKojima's guiding principles, and\ngive us a message for stakeholders.\nHitachi's core principle of contributing to society through\nthe power of technology remains unchanged. With\nthat in mind, I will continue my unwavering efforts to\nmaintain a bird's-eye view of all technological innovation\nas it unfolds-not only Hitachi's technologies but also\ntechnologies in completely different fields-and to\nconstantly monitor those trends. This approach has been\nshaped by my own pride as a researcher.\nI can declare without fear that we will undoubtedly\nachieve our goal of recording \"10 years of growth\"\nmoving forward, and I will embody in my actions the\nmotto \"Always follow through on your promises,\" which\nI once saw displayed at the Central Research Laboratory\nand which has become a central part of my philosophy.\nDuring this coming decade of growth, one major theme\nwill be to enhance returns to all stakeholders, including\nshareholders, investors and employees. My goal is to gain\npeople's understanding and support by communicating\nmy own thoughts on matters such as growth strategies\nand to comment on the progress of those strategies in a\ntransparent and easy-to-understand way.\nGovernance\nData\n27\n\n\nStrategy 1\nExpand Revenues by Accelerating\nthe Social Innovation Business\nUsing data to pick up on signs of change, we will create new value with customers for the next stage of society, as part of\nour efforts to achieve social innovations that increase the corporate value for customers and the quality of life for people\neverywhere. This is the essence of Lumada. Leveraging the strengths of Operational Technology (OT) x Information Technology\n(IT) × Products that Hitachi has cultivated over many years, we will accelerate the Social Innovation Business using Lumada on\na global scale.\nIn 2020, due to the COVID-19, the global business community faced a major turning point, and a variety of hidden social issues\ncame to light. Digital solutions that take full advantage of digital technologies such as Al and loT are essential in this era of the\nnew normal. By building new partnerships that transcend the boundaries of various industries, we will provide even greater value\nto society.\nGrow Highly Profitable Businesses with Digital Technology\nAchieve Robust Growth in the Lumada\nBusiness\nThe Lumada business has a high adjusted operating income\nratio (more than 10%), and revenues are increasing. We posted\nrevenues of 1.11 trillion yen in fiscal 2020 and expect 1.58\ntrillion yen in fiscal 2021. Moving forward, through integration\nwith GlobalLogic, for which the acquisition was completed\nin July 2021, we will strive to capture growth in the rapidly\nexpanding global market for digital transformation to achieve\nboth high business growth and profitability with revenues of\n3 trillion yen and adjusted operating income of 500 billion yen\nin fiscal 2025.\nIn the Lumada business, we leverage the expertise that Hitachi\nhas accumulated in the fields of OT (operation and control\ntechnologies), IT (including Al and analytics) and products\n(including industrial devices, rolling stock, and elevators, etc.)\nto provide digital solutions that resolve customers' issues and\nincrease social, environmental and economic value.\nThe Lumada business comprises the Lumada core business\nand Lumada related businesses. The \"Lumada core business\"\nis a digital solutions business that solves management and\nbusiness issues by converting customer data into value using\nLumada Business Revenues\nLumada core business\nLumada related business\n• Yoy\n1,560. bilion yen)\n+42%\n1,037.0\n444.0\n+7%\n> 1,110.0\n438.0\n680.0\n900.0\n593.0\n672.0\nFY2019\nFY2020\nFY2021 (Forecast)\nAl and other digital technologies. \"Lumada related businesses\"\nare defined as advanced products and systems businesses,\ncentered on OT and products that have prospects for synergies\nwith the Lumada core business.\nIn the railway systems business, for example, OT and product\ndata are collected through sensors installed in rolling stock,\nsignaling systems, and other elements positioned as Lumada\nrelated businesses, and these data are analyzed using the\ndigital solutions that represent the Lumada core business to\ndetect signs of failure. This enables efficient maintenance to\nprevent failures before they occur and to increase operating\nrates. In this way, digital solutions enable a shift toward high-\nvalue-added, high-profit operations in the related OT and\nProduct businesses.\nBy undertaking both the Lumada core business and Lumada\nrelated businesses while using the domain knowledge and\nassets cultivated through the five sectors and at Hitachi\nAstemo, we will deepen the integration of OT × IT x Products\nand expand these businesses.\nIn April 2021, Hitachi was authorized by the Japanese Ministry\nof Economy, Trade, and Industry as a \"DX-certified operator.\"\nIn June 2021, we received the DX Grand Prix 2021 award in\n\"Digital Transformation Brand 2021,\" which is selected by the\nMinistry of Economy, Trade, and Industry and the Tokyo Stock\nExchange. This award recognizes that Lumada has been used\nto support the acceleration of DX for customers and society,\nand that it has already tied into the rollout of\nglobal business, demonstrating that DX is\nan engine for changing entire companies. We\nsee this as the most significant recognition\nyet that Hitachi itself continues to undergo\na transformation through the Lumada\nDXS592021\nDiaital Transformation\nbusiness.\nLumada is used in a wide range of operational\nfields at Hitachi, including sales, procurement, production,\nmaintenance, and management. In fiscal 2020, there was a\ncumulative total of 257 examples of applications related to in-\nhouse IT services, more than twice the number in fiscal 2018.\nListed subsidiaries\n16%\nSmart Life\n7%\nMobility\n20%\nIndustry\n13%\nComponent ratio of\nLumada business\nrevenues by segment\nin FY2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_company_type",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 3:\n\n\nNon-financial\nReporting Scope\nPeriod:\nApril 1, 2020, to March 31, 2021\n(Certain subsequent activites and information presented after April 2021 are also included)\nHitachi, Ltd., and its consolidated subsidiaries\nCompanies:\nScope of Data:\n•Social data:\nThe scope of the data are individually described.\n• Environmental data: 872 companies (Hitachi, Ltd., and 871 consolidated subsidiaries)\nHowever, Group companies that were acquired in the middle of the\nfiscal year are not included in the scope of the environmental load data.\nFor the scope of the environmental load data associated with Hitachi's\nbusiness operations, Hitachi, Ltd., and consolidated subsidiaries\nwhose environmental load comprises more than 90%* of the total,\nexcluding the Group companies mentioned above.\n*Based on calculations by Hitachi, Ltd.\nAccounting Standard:\nUnless otherwise noted, this report is prepared in accordance with U.S,\nGAAP through fiscal 2013 and with the International Financial\nReporting Standards (IFRS) from fiscal 2014.\nValue Creation Story\nIntegrated Report\nSustainability/ESG Information\n•Sustainability Report\n•Corporate Governance Report*\n•Sustainability Website\nhttps://www.hitachi.com/sustainability/\nInvestor Information\n• Annual Securities Report*\n•Financial Statements*\n•Business Report*\nCor terato snagement Plan)\n•Investor Relations Website\nhttps://www.hitachi.com/IR-e/\nComprehensiveness\nFinancial\n*Statutory disclosure/Timely disclosure\nContact\nHitachi, Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_key_financials",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 8729.1bn, EBIT 850.2bn, net income 501.6bn, cash flow operating: 793.1bn",
      "golden_context": "Page 26:\n\n\nEnvironmental\nvalue\nEconomic\nvalue\nResolve social and management issues by\nfocusing on three key areas\nEnvironment\nResilience\nSecurity & Safety\nBusiness Performance\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nNet income attributable to Hitachi, Ltd. stockholders\nOverseas revenues ratio\nCash flows from operating activities\nROIC\nPerformance by Segment\nSegment\nItem\nIT\nEnergy\nIndustry\nMobility\nSmart Life\nAutomotive\nSystems\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted Operating income / ratio\nEBIT / EBIT ratio\nROIC\n*Announced on July 30, 2021\n24 Hitachi Integrated Report 2021\nFY2019 results\n8,767.2 billion yen\n661.8 billion yen / 7.5%\n183.6 billion yen / 2.1%\n87.5 billion yen\n48 %\n560.9 billion yen\n9.4 %\nFY2019 results\n2,099. 4 billion yen\n249.4 billion yen / 11.9%\n214.4 billion yen / 10.2%\n18.4%\n399.2 billion yen\n13.5 billion yen / 3.4%\n(375.7) billion yen / (94.1)%\n6.4 %\n840.7 billion yen\n54.7 billion yen / 6.5%\n57.8 billion yen / 6.9%\n8.6 %\n1,144.4 billion yen\n92.3 billion yen / 8.1%\n112.3 billion yen / 9.8%\n11.3%\n2,1667.6 billion yen\n118.9 billion yen / 5.5%\n90.0 billion yen / 4.2%\n8.0 %\n-\nFY2020 results\n8,729.1 billion yen\n495. 1 billion yen / 5.7%\n850.2 billion yen / 9.7%\n501.66 billion yen\n52 %\n793.1 billion yen\n6.4 %\nFY2020 results\n2,048.7 billion yen\n269.4 billion yen / 13.2%\n244.8 billion yen / 12.0%\n17.8 %\n1,107.9 billion yen\n(47.7) billion yen / (4.3)%\n(55.5) billion yen/ (5.0)%\n(2.7)%\n830. 1 billion yen\n45.5 billion yen / 5.5%\n42.3 billion yen / 5.1%\n6.1 %\n1,199.6 billion yen\n74.7 billion yen / 6.2%\n129.0 billion yen / 10.8%\n8.9 %\n1,252.7 billion yen\n79.4 billion yen / 6.3%\n202.1 billion yen / 16.1%\n8.7 %\n987.5 billion yen\n34.7 billion yen / 3.5%\n4.3 billion yen / 0.4%\n3.1 %\nFY2021 forecast*\n9,500.0 billion yen\n740.0 billion yen / 7.8%\n820.0 billion yen / 8.6%\n550.0 billion yen\n750.0 billion yen\n8.3 %\nFY2021 forecast*\n2,200.0 billion yen\n263.0 billion yen / 12.0%\n246.0 billion yen / 11.2%\n12.7 %\n1,320.0 billion yen\n30.0 billion yen / 2.3%\n37.0 billion yen / 2.8%\n1.9 %\n850.0 billion yen\n69.0 billion yen / 8.1%\n59.0 billion yen / 6.9%\n8.7 %\n1,250.0 billion yen\n102.0 billion yen / 8.2%\n124.0 billion yen / 9.9%\n10.2 %\n1,000.O billion yen\n97.0 billion yen / 9.7%\n150.0 billion yen / 15.0%\n10.8 %\n1,600.0 billion yen\n97.0 billion yen / 6.1%\n76.0 billion yen / 4.8%\n6.3 %\n\n\nInputs for Promoting Strategy\nIN\nStrategy 1\n• Grow Highly Profitable Businesses\nwith Digital Technology\n• Achieve Robust Growth in the Lumada\nBusiness\n• Further Acceleration of Global Rollout\n• Hitachi's Strengths in DX for Social\nInfrastructures\n• The Chain of Value Creation and Expansion\nto Ecosystems That Initiate Cycles\n• Strengthening and Training Talent That\nDrives the Social Innovation Business\n• Examples of Value Creation through\nLumada Solutions\n• Expanding the Social Innovation Business\nby Entrenching the Value of Co-Creation\n• Creation of Social and Environmental\nValue\n• Become a Climate Change Innovator\n• Realization of a Decarbonized Society\nExpand Revenues by Accelerating the Social Innovation Business\nKPI\nRevenues of Lumada business\nLumada core business\nLumada related business\nFY2019\n1,037.0 billion yen\n593.0 billion yen\n444.0 billion yen\nFY2020\n1,110.0 billion yen\n672.0 billion yen\n438.0 billion yen\nCustomer cases\nOver 1,000\nSolution cores\nOver 85\nDigital talent\nLumada overseas revenue ratio\nReduction rate in COz emissions per unit\n(products and services) (compared with FY2010)\nReduction rate in total COz emissions\nat business sites (factories and offices)\n(compared with FY2010)\neduction rate in water use per un\nompared with FY201(\nReduction rate in waste and valuables\ngeneration per unit (compared with FY2010)\n30,000\nApprox. 40%\n35,000\nApprox. 30%\n19%\n20%\n17%\n39%\n26%\n24%\n14%\n14%\nStrategy 2\n• Hitachi's R&D\n- Value-based Innovation\n• The Strength of Hitachi's R&D\n• Strengthening R&D and Future Directions\nEnhance Global Competitiveness\nKPI\nR&D expenses to sales revenues ratio\nRatio of non-Japanese executives*\n• Further Evolution of Lumada\n• Initiatives in Intellectual Properties\nRatio of female executives*\nFY2019\n3.4%\n8.6%\n7.1%\n700\nFY2020\n3.4%\n11.6%\n10.1%\n768\nNumber of female managers\nEngagement indicator of employee survey\n• Global Human Capital that Provides\nValue to Society through the Social\nInnovation Business\n• Global Human Capital Management Strategy\n• Diversity & Inclusion\n• Target and Actions for Diversity & Inclusion\n• Framework for Global Human Capital\nManagement\n• Building Workplaces That Offer Job\nSatisfaction\n60%\n62%\n*Executive officers, Corporate officers, and Fellows\nStrategy 3\nReinforce Management System to Improve Profitability\n• Progress of ROIC Management\n• Financial and Capital Strategy\n• Capital Allocation\n• Strengthening the Management\nBase through the Standardization\nof Global Operations\nKPI\nFY2019\nFY2020\nROIC\nAdjusted operating income ratio\nOperating cash flows\nGrowth Investment\n9.4%\n6.4%\n7.5%\n5.7%\n560.9 billion yen\n793. 1 bilion yen\nApprox. 200.0 billion yen Approx. 1,700.0 billion yen\nVision\nValue Creation\nSust\ntainability\n25\n\n\nCOO Message\nCreating a Growth Story for the Next 10 Years\nwith the Lumada Business at the Core\nQ\nYou were appointed President and COO in\nJune of this year. Can you tell us about\nyour aspirations for this position?\nFor about 10 years following the financial crisis that began with\nthe collapse of Lehman Brothers, successive management teams\nimplemented drastic structural reforms to transform Hitachi into\na global company. They took a number of steps to accomplish\nthis, one of the most prominent examples was the restructuring\nof the company's business portfolio. Now that these structural\nreforms have had time to take effect and serve as the foundation\nfor growth, we are approaching a business portfolio that is well-\nequipped for future success. My mission is to create a path for\nHitachi's continued growth over the next 10 years based on this\nfoundation. This is very satisfying and meaningful work.\nBack when I was serving as CTO, Mr. Nakanishi, the former\nExecutive Chairman, communicated a strong message to me\nwhen he told me that \"the Social Innovation Business is Hitachi's\ncore.\" This stuck with me and ever since I have worked to\nexecute reforms at research laboratories worldwide to strengthen\nHitachi's innovation capabilities. First, I undertook a major change\nin direction as I prioritized creating an R&D structure close to\nsociety and the customers. Specifically, rather than using the\nconventional approach of creating products as an extension of\nfundamental research and elemental technologies, I encouraged\nan approach of identifying social issues and back-casting from\nfuture forecasts to define our key research themes. Ever since we\nbegan the Lumada business in 2016, we have invested immense\nenergy into expanding this business. Since my first encounter\nwith database research, I have been confident that data was an\nimmensely valuable resource which would be a driving force that\ncould change the world. Now that we are approaching the final\nform of the business portfolio, we will create and follow a path\nin which the Lumada business serves as a driver for Hitachi to\nachieve the next stage of growth.\nKeiji Kojima\nPresident & COO\nQ\nPlease tell us about the direction and key\ninitiatives driving the creation of the next\nMid-term Management Plan.\nTo guide future growth, we must tie the assets acquired\nthrough large-scale M&As into a comprehensive plan to\nsteadily increase corporate value. The key words in this\nregard are simplicity, digitalization, and globalization of\nmanagement.\n26 Hitachi Integrated Report 2021\n\n\nHitachi's business can be separated into three main\ncategories: IT, projects,\nand design/manufacturing.\nManagement must be simple to ensure the efficient use\nof assets characterized by different risks and\ngrowth\nmechanisms. Acting with speed is also crucial in achieving\ncontinued growth that keeps pace with changes in the world\nat large. Finally, the effective use of digital technologies in\nmanagement is key to increasing speed.\nThe structural reforms that Hitachi has implemented have\nbeen executed to achieve global growth. We are promoting\nintegration with overseas companies that have recently\njoined the Hitachi Group, including Hitachi ABB Power Grids\nand GlobalLogic, and we are making a full-scale shift toward\nmanagement from a global perspective. We are building\nan operational structure that will enable us to demonstrate\neffective Group synergies, while at the same time preserving\nthe speed and culture of a top global company. To do this,\neven as we press forward with the globalization of existing\nHead Office functions, we will further accelerate growth\nby establishing smaller global corporate functions in each\nregion to complement those Head Office functions.\nYou said that the Lumada business holds\nthe key to growth. How much progress do\nyou think has been made toward realizing\nthe future vision for this business?\nTo me, the starting point for Lumada is co-creation with\ncustomers aimed at resolving social issues. When we began\nLumada, we said that researchers would share social issues\nwith customers and undertake co-creation to resolve those\nissues, and then transfer the insight gained from these\nframeworks and systems to the business side, to provide them\nin the form of the Social Innovation Business. Up to now, we\nhave expanded co-creation-style Sl with a particular focus\non the IT sector and have used this approach to vigorously\npromote the Lumada business. The IT sector has grown to\nthe point where it currently generates about half of Hitachi's\nincome, but it only accounts for about 20% of sales. Our next\nmanagement goal is to accelerate the digitalization of project\nand design/manufacturing assets, which account for most of\nthe Hitachi Group's sales. Digitalization is moving forward in\nbusinesses that demonstrate a strong affinity with the Lumada\nbusiness,\nsuch as the Building Systems Business Unit.\nHowever, from this point onward we will go one step further,\nplacing all of Hitachi's businesses on the Lumada platform to\naccelerate growth. In addition, we need to promote full-scale\nglobalization, mainly through Hitachi Vantara, which drives the\nLumada business on a global scale. In that sense, I would\nsay that right now, we have achieved 30% or 40% of our\n\"aspirations.\"\nHitachi ABB Power Grids, which we acquired last year, is\npositioned not as a business in the Energy sector but rather\nas a core business that supports the environment, one of\nthe three fields where we can demonstrate growth through\nLumada.\nAs we move forward toward our goal of carbon\nneutrality for the Hitachi Group as a whole, Hitachi ABB Power\nGrids has an important role to play as a crosscutting business\nthat creates synergies with all sectors. GlobalLogic is similar in\nthat its business demonstrates great value and synergies with\nall sectors. We will link these newly secured resources with all\nour businesses while working to accelerate global expansion\nand growth in the Lumada business.\nVision\nMoving forward, what are the main markets\nand fields where you expect to see the most\ngrowth in the Lumada business?\nThe markets where I expect to see the most growth are\nNorth America and India. North America-particularly the\nUnited States-is investing aggressively in infrastructure,\nand various domestic industries are seeing a recovery, so l\nsee this as a growth market with huge potential. India, which\nhas become the world's largest source of digital talent, is\nalso a key area that we approach alongside North America\nas we work to expand the Lumada business. Japan also\nhas many companies that create outstanding products, so l\nthink this market has great potential as well.\nThe sectors that demonstrate the greatest growth potential\ninclude the Industry sector and the Smart Life sector,\nespecially the field of genetic engineering, which includes\nregenerative medicine and iPS cells.\nValue Creation\nSustainability\nQ\nIn closing, please tell us President\nKojima's guiding principles, and\ngive us a message for stakeholders.\nHitachi's core principle of contributing to society through\nthe power of technology remains unchanged. With\nthat in mind, I will continue my unwavering efforts to\nmaintain a bird's-eye view of all technological innovation\nas it unfolds-not only Hitachi's technologies but also\ntechnologies in completely different fields-and to\nconstantly monitor those trends. This approach has been\nshaped by my own pride as a researcher.\nI can declare without fear that we will undoubtedly\nachieve our goal of recording \"10 years of growth\"\nmoving forward, and I will embody in my actions the\nmotto \"Always follow through on your promises,\" which\nI once saw displayed at the Central Research Laboratory\nand which has become a central part of my philosophy.\nDuring this coming decade of growth, one major theme\nwill be to enhance returns to all stakeholders, including\nshareholders, investors and employees. My goal is to gain\npeople's understanding and support by communicating\nmy own thoughts on matters such as growth strategies\nand to comment on the progress of those strategies in a\ntransparent and easy-to-understand way.\nGovernance\nData\n27\n\n\nStrategy 1\nExpand Revenues by Accelerating\nthe Social Innovation Business\nUsing data to pick up on signs of change, we will create new value with customers for the next stage of society, as part of\nour efforts to achieve social innovations that increase the corporate value for customers and the quality of life for people\neverywhere. This is the essence of Lumada. Leveraging the strengths of Operational Technology (OT) x Information Technology\n(IT) × Products that Hitachi has cultivated over many years, we will accelerate the Social Innovation Business using Lumada on\na global scale.\nIn 2020, due to the COVID-19, the global business community faced a major turning point, and a variety of hidden social issues\ncame to light. Digital solutions that take full advantage of digital technologies such as Al and loT are essential in this era of the\nnew normal. By building new partnerships that transcend the boundaries of various industries, we will provide even greater value\nto society.\nGrow Highly Profitable Businesses with Digital Technology\nAchieve Robust Growth in the Lumada\nBusiness\nThe Lumada business has a high adjusted operating income\nratio (more than 10%), and revenues are increasing. We posted\nrevenues of 1.11 trillion yen in fiscal 2020 and expect 1.58\ntrillion yen in fiscal 2021. Moving forward, through integration\nwith GlobalLogic, for which the acquisition was completed\nin July 2021, we will strive to capture growth in the rapidly\nexpanding global market for digital transformation to achieve\nboth high business growth and profitability with revenues of\n3 trillion yen and adjusted operating income of 500 billion yen\nin fiscal 2025.\nIn the Lumada business, we leverage the expertise that Hitachi\nhas accumulated in the fields of OT (operation and control\ntechnologies), IT (including Al and analytics) and products\n(including industrial devices, rolling stock, and elevators, etc.)\nto provide digital solutions that resolve customers' issues and\nincrease social, environmental and economic value.\nThe Lumada business comprises the Lumada core business\nand Lumada related businesses. The \"Lumada core business\"\nis a digital solutions business that solves management and\nbusiness issues by converting customer data into value using\nLumada Business Revenues\nLumada core business\nLumada related business\n• Yoy\n1,560. bilion yen)\n+42%\n1,037.0\n444.0\n+7%\n> 1,110.0\n438.0\n680.0\n900.0\n593.0\n672.0\nFY2019\nFY2020\nFY2021 (Forecast)\nAl and other digital technologies. \"Lumada related businesses\"\nare defined as advanced products and systems businesses,\ncentered on OT and products that have prospects for synergies\nwith the Lumada core business.\nIn the railway systems business, for example, OT and product\ndata are collected through sensors installed in rolling stock,\nsignaling systems, and other elements positioned as Lumada\nrelated businesses, and these data are analyzed using the\ndigital solutions that represent the Lumada core business to\ndetect signs of failure. This enables efficient maintenance to\nprevent failures before they occur and to increase operating\nrates. In this way, digital solutions enable a shift toward high-\nvalue-added, high-profit operations in the related OT and\nProduct businesses.\nBy undertaking both the Lumada core business and Lumada\nrelated businesses while using the domain knowledge and\nassets cultivated through the five sectors and at Hitachi\nAstemo, we will deepen the integration of OT × IT x Products\nand expand these businesses.\nIn April 2021, Hitachi was authorized by the Japanese Ministry\nof Economy, Trade, and Industry as a \"DX-certified operator.\"\nIn June 2021, we received the DX Grand Prix 2021 award in\n\"Digital Transformation Brand 2021,\" which is selected by the\nMinistry of Economy, Trade, and Industry and the Tokyo Stock\nExchange. This award recognizes that Lumada has been used\nto support the acceleration of DX for customers and society,\nand that it has already tied into the rollout of\nglobal business, demonstrating that DX is\nan engine for changing entire companies. We\nsee this as the most significant recognition\nyet that Hitachi itself continues to undergo\na transformation through the Lumada\nDXS592021\nDiaital Transformation\nbusiness.\nLumada is used in a wide range of operational\nfields at Hitachi, including sales, procurement, production,\nmaintenance, and management. In fiscal 2020, there was a\ncumulative total of 257 examples of applications related to in-\nhouse IT services, more than twice the number in fiscal 2018.\nListed subsidiaries\n16%\nSmart Life\n7%\nMobility\n20%\nIndustry\n13%\nComponent ratio of\nLumada business\nrevenues by segment\nin FY2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_revenue",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenues: 8729.1bn",
      "golden_context": "Page 26:\n\n\nEnvironmental\nvalue\nEconomic\nvalue\nResolve social and management issues by\nfocusing on three key areas\nEnvironment\nResilience\nSecurity & Safety\nBusiness Performance\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nNet income attributable to Hitachi, Ltd. stockholders\nOverseas revenues ratio\nCash flows from operating activities\nROIC\nPerformance by Segment\nSegment\nItem\nIT\nEnergy\nIndustry\nMobility\nSmart Life\nAutomotive\nSystems\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted Operating income / ratio\nEBIT / EBIT ratio\nROIC\n*Announced on July 30, 2021\n24 Hitachi Integrated Report 2021\nFY2019 results\n8,767.2 billion yen\n661.8 billion yen / 7.5%\n183.6 billion yen / 2.1%\n87.5 billion yen\n48 %\n560.9 billion yen\n9.4 %\nFY2019 results\n2,099. 4 billion yen\n249.4 billion yen / 11.9%\n214.4 billion yen / 10.2%\n18.4%\n399.2 billion yen\n13.5 billion yen / 3.4%\n(375.7) billion yen / (94.1)%\n6.4 %\n840.7 billion yen\n54.7 billion yen / 6.5%\n57.8 billion yen / 6.9%\n8.6 %\n1,144.4 billion yen\n92.3 billion yen / 8.1%\n112.3 billion yen / 9.8%\n11.3%\n2,1667.6 billion yen\n118.9 billion yen / 5.5%\n90.0 billion yen / 4.2%\n8.0 %\n-\nFY2020 results\n8,729.1 billion yen\n495. 1 billion yen / 5.7%\n850.2 billion yen / 9.7%\n501.66 billion yen\n52 %\n793.1 billion yen\n6.4 %\nFY2020 results\n2,048.7 billion yen\n269.4 billion yen / 13.2%\n244.8 billion yen / 12.0%\n17.8 %\n1,107.9 billion yen\n(47.7) billion yen / (4.3)%\n(55.5) billion yen/ (5.0)%\n(2.7)%\n830. 1 billion yen\n45.5 billion yen / 5.5%\n42.3 billion yen / 5.1%\n6.1 %\n1,199.6 billion yen\n74.7 billion yen / 6.2%\n129.0 billion yen / 10.8%\n8.9 %\n1,252.7 billion yen\n79.4 billion yen / 6.3%\n202.1 billion yen / 16.1%\n8.7 %\n987.5 billion yen\n34.7 billion yen / 3.5%\n4.3 billion yen / 0.4%\n3.1 %\nFY2021 forecast*\n9,500.0 billion yen\n740.0 billion yen / 7.8%\n820.0 billion yen / 8.6%\n550.0 billion yen\n750.0 billion yen\n8.3 %\nFY2021 forecast*\n2,200.0 billion yen\n263.0 billion yen / 12.0%\n246.0 billion yen / 11.2%\n12.7 %\n1,320.0 billion yen\n30.0 billion yen / 2.3%\n37.0 billion yen / 2.8%\n1.9 %\n850.0 billion yen\n69.0 billion yen / 8.1%\n59.0 billion yen / 6.9%\n8.7 %\n1,250.0 billion yen\n102.0 billion yen / 8.2%\n124.0 billion yen / 9.9%\n10.2 %\n1,000.O billion yen\n97.0 billion yen / 9.7%\n150.0 billion yen / 15.0%\n10.8 %\n1,600.0 billion yen\n97.0 billion yen / 6.1%\n76.0 billion yen / 4.8%\n6.3 %\n\n\nInputs for Promoting Strategy\nIN\nStrategy 1\n• Grow Highly Profitable Businesses\nwith Digital Technology\n• Achieve Robust Growth in the Lumada\nBusiness\n• Further Acceleration of Global Rollout\n• Hitachi's Strengths in DX for Social\nInfrastructures\n• The Chain of Value Creation and Expansion\nto Ecosystems That Initiate Cycles\n• Strengthening and Training Talent That\nDrives the Social Innovation Business\n• Examples of Value Creation through\nLumada Solutions\n• Expanding the Social Innovation Business\nby Entrenching the Value of Co-Creation\n• Creation of Social and Environmental\nValue\n• Become a Climate Change Innovator\n• Realization of a Decarbonized Society\nExpand Revenues by Accelerating the Social Innovation Business\nKPI\nRevenues of Lumada business\nLumada core business\nLumada related business\nFY2019\n1,037.0 billion yen\n593.0 billion yen\n444.0 billion yen\nFY2020\n1,110.0 billion yen\n672.0 billion yen\n438.0 billion yen\nCustomer cases\nOver 1,000\nSolution cores\nOver 85\nDigital talent\nLumada overseas revenue ratio\nReduction rate in COz emissions per unit\n(products and services) (compared with FY2010)\nReduction rate in total COz emissions\nat business sites (factories and offices)\n(compared with FY2010)\neduction rate in water use per un\nompared with FY201(\nReduction rate in waste and valuables\ngeneration per unit (compared with FY2010)\n30,000\nApprox. 40%\n35,000\nApprox. 30%\n19%\n20%\n17%\n39%\n26%\n24%\n14%\n14%\nStrategy 2\n• Hitachi's R&D\n- Value-based Innovation\n• The Strength of Hitachi's R&D\n• Strengthening R&D and Future Directions\nEnhance Global Competitiveness\nKPI\nR&D expenses to sales revenues ratio\nRatio of non-Japanese executives*\n• Further Evolution of Lumada\n• Initiatives in Intellectual Properties\nRatio of female executives*\nFY2019\n3.4%\n8.6%\n7.1%\n700\nFY2020\n3.4%\n11.6%\n10.1%\n768\nNumber of female managers\nEngagement indicator of employee survey\n• Global Human Capital that Provides\nValue to Society through the Social\nInnovation Business\n• Global Human Capital Management Strategy\n• Diversity & Inclusion\n• Target and Actions for Diversity & Inclusion\n• Framework for Global Human Capital\nManagement\n• Building Workplaces That Offer Job\nSatisfaction\n60%\n62%\n*Executive officers, Corporate officers, and Fellows\nStrategy 3\nReinforce Management System to Improve Profitability\n• Progress of ROIC Management\n• Financial and Capital Strategy\n• Capital Allocation\n• Strengthening the Management\nBase through the Standardization\nof Global Operations\nKPI\nFY2019\nFY2020\nROIC\nAdjusted operating income ratio\nOperating cash flows\nGrowth Investment\n9.4%\n6.4%\n7.5%\n5.7%\n560.9 billion yen\n793. 1 bilion yen\nApprox. 200.0 billion yen Approx. 1,700.0 billion yen\nVision\nValue Creation\nSust\ntainability\n25\n\n\nCOO Message\nCreating a Growth Story for the Next 10 Years\nwith the Lumada Business at the Core\nQ\nYou were appointed President and COO in\nJune of this year. Can you tell us about\nyour aspirations for this position?\nFor about 10 years following the financial crisis that began with\nthe collapse of Lehman Brothers, successive management teams\nimplemented drastic structural reforms to transform Hitachi into\na global company. They took a number of steps to accomplish\nthis, one of the most prominent examples was the restructuring\nof the company's business portfolio. Now that these structural\nreforms have had time to take effect and serve as the foundation\nfor growth, we are approaching a business portfolio that is well-\nequipped for future success. My mission is to create a path for\nHitachi's continued growth over the next 10 years based on this\nfoundation. This is very satisfying and meaningful work.\nBack when I was serving as CTO, Mr. Nakanishi, the former\nExecutive Chairman, communicated a strong message to me\nwhen he told me that \"the Social Innovation Business is Hitachi's\ncore.\" This stuck with me and ever since I have worked to\nexecute reforms at research laboratories worldwide to strengthen\nHitachi's innovation capabilities. First, I undertook a major change\nin direction as I prioritized creating an R&D structure close to\nsociety and the customers. Specifically, rather than using the\nconventional approach of creating products as an extension of\nfundamental research and elemental technologies, I encouraged\nan approach of identifying social issues and back-casting from\nfuture forecasts to define our key research themes. Ever since we\nbegan the Lumada business in 2016, we have invested immense\nenergy into expanding this business. Since my first encounter\nwith database research, I have been confident that data was an\nimmensely valuable resource which would be a driving force that\ncould change the world. Now that we are approaching the final\nform of the business portfolio, we will create and follow a path\nin which the Lumada business serves as a driver for Hitachi to\nachieve the next stage of growth.\nKeiji Kojima\nPresident & COO\nQ\nPlease tell us about the direction and key\ninitiatives driving the creation of the next\nMid-term Management Plan.\nTo guide future growth, we must tie the assets acquired\nthrough large-scale M&As into a comprehensive plan to\nsteadily increase corporate value. The key words in this\nregard are simplicity, digitalization, and globalization of\nmanagement.\n26 Hitachi Integrated Report 2021\n\n\nHitachi's business can be separated into three main\ncategories: IT, projects,\nand design/manufacturing.\nManagement must be simple to ensure the efficient use\nof assets characterized by different risks and\ngrowth\nmechanisms. Acting with speed is also crucial in achieving\ncontinued growth that keeps pace with changes in the world\nat large. Finally, the effective use of digital technologies in\nmanagement is key to increasing speed.\nThe structural reforms that Hitachi has implemented have\nbeen executed to achieve global growth. We are promoting\nintegration with overseas companies that have recently\njoined the Hitachi Group, including Hitachi ABB Power Grids\nand GlobalLogic, and we are making a full-scale shift toward\nmanagement from a global perspective. We are building\nan operational structure that will enable us to demonstrate\neffective Group synergies, while at the same time preserving\nthe speed and culture of a top global company. To do this,\neven as we press forward with the globalization of existing\nHead Office functions, we will further accelerate growth\nby establishing smaller global corporate functions in each\nregion to complement those Head Office functions.\nYou said that the Lumada business holds\nthe key to growth. How much progress do\nyou think has been made toward realizing\nthe future vision for this business?\nTo me, the starting point for Lumada is co-creation with\ncustomers aimed at resolving social issues. When we began\nLumada, we said that researchers would share social issues\nwith customers and undertake co-creation to resolve those\nissues, and then transfer the insight gained from these\nframeworks and systems to the business side, to provide them\nin the form of the Social Innovation Business. Up to now, we\nhave expanded co-creation-style Sl with a particular focus\non the IT sector and have used this approach to vigorously\npromote the Lumada business. The IT sector has grown to\nthe point where it currently generates about half of Hitachi's\nincome, but it only accounts for about 20% of sales. Our next\nmanagement goal is to accelerate the digitalization of project\nand design/manufacturing assets, which account for most of\nthe Hitachi Group's sales. Digitalization is moving forward in\nbusinesses that demonstrate a strong affinity with the Lumada\nbusiness,\nsuch as the Building Systems Business Unit.\nHowever, from this point onward we will go one step further,\nplacing all of Hitachi's businesses on the Lumada platform to\naccelerate growth. In addition, we need to promote full-scale\nglobalization, mainly through Hitachi Vantara, which drives the\nLumada business on a global scale. In that sense, I would\nsay that right now, we have achieved 30% or 40% of our\n\"aspirations.\"\nHitachi ABB Power Grids, which we acquired last year, is\npositioned not as a business in the Energy sector but rather\nas a core business that supports the environment, one of\nthe three fields where we can demonstrate growth through\nLumada.\nAs we move forward toward our goal of carbon\nneutrality for the Hitachi Group as a whole, Hitachi ABB Power\nGrids has an important role to play as a crosscutting business\nthat creates synergies with all sectors. GlobalLogic is similar in\nthat its business demonstrates great value and synergies with\nall sectors. We will link these newly secured resources with all\nour businesses while working to accelerate global expansion\nand growth in the Lumada business.\nVision\nMoving forward, what are the main markets\nand fields where you expect to see the most\ngrowth in the Lumada business?\nThe markets where I expect to see the most growth are\nNorth America and India. North America-particularly the\nUnited States-is investing aggressively in infrastructure,\nand various domestic industries are seeing a recovery, so l\nsee this as a growth market with huge potential. India, which\nhas become the world's largest source of digital talent, is\nalso a key area that we approach alongside North America\nas we work to expand the Lumada business. Japan also\nhas many companies that create outstanding products, so l\nthink this market has great potential as well.\nThe sectors that demonstrate the greatest growth potential\ninclude the Industry sector and the Smart Life sector,\nespecially the field of genetic engineering, which includes\nregenerative medicine and iPS cells.\nValue Creation\nSustainability\nQ\nIn closing, please tell us President\nKojima's guiding principles, and\ngive us a message for stakeholders.\nHitachi's core principle of contributing to society through\nthe power of technology remains unchanged. With\nthat in mind, I will continue my unwavering efforts to\nmaintain a bird's-eye view of all technological innovation\nas it unfolds-not only Hitachi's technologies but also\ntechnologies in completely different fields-and to\nconstantly monitor those trends. This approach has been\nshaped by my own pride as a researcher.\nI can declare without fear that we will undoubtedly\nachieve our goal of recording \"10 years of growth\"\nmoving forward, and I will embody in my actions the\nmotto \"Always follow through on your promises,\" which\nI once saw displayed at the Central Research Laboratory\nand which has become a central part of my philosophy.\nDuring this coming decade of growth, one major theme\nwill be to enhance returns to all stakeholders, including\nshareholders, investors and employees. My goal is to gain\npeople's understanding and support by communicating\nmy own thoughts on matters such as growth strategies\nand to comment on the progress of those strategies in a\ntransparent and easy-to-understand way.\nGovernance\nData\n27\n\n\nStrategy 1\nExpand Revenues by Accelerating\nthe Social Innovation Business\nUsing data to pick up on signs of change, we will create new value with customers for the next stage of society, as part of\nour efforts to achieve social innovations that increase the corporate value for customers and the quality of life for people\neverywhere. This is the essence of Lumada. Leveraging the strengths of Operational Technology (OT) x Information Technology\n(IT) × Products that Hitachi has cultivated over many years, we will accelerate the Social Innovation Business using Lumada on\na global scale.\nIn 2020, due to the COVID-19, the global business community faced a major turning point, and a variety of hidden social issues\ncame to light. Digital solutions that take full advantage of digital technologies such as Al and loT are essential in this era of the\nnew normal. By building new partnerships that transcend the boundaries of various industries, we will provide even greater value\nto society.\nGrow Highly Profitable Businesses with Digital Technology\nAchieve Robust Growth in the Lumada\nBusiness\nThe Lumada business has a high adjusted operating income\nratio (more than 10%), and revenues are increasing. We posted\nrevenues of 1.11 trillion yen in fiscal 2020 and expect 1.58\ntrillion yen in fiscal 2021. Moving forward, through integration\nwith GlobalLogic, for which the acquisition was completed\nin July 2021, we will strive to capture growth in the rapidly\nexpanding global market for digital transformation to achieve\nboth high business growth and profitability with revenues of\n3 trillion yen and adjusted operating income of 500 billion yen\nin fiscal 2025.\nIn the Lumada business, we leverage the expertise that Hitachi\nhas accumulated in the fields of OT (operation and control\ntechnologies), IT (including Al and analytics) and products\n(including industrial devices, rolling stock, and elevators, etc.)\nto provide digital solutions that resolve customers' issues and\nincrease social, environmental and economic value.\nThe Lumada business comprises the Lumada core business\nand Lumada related businesses. The \"Lumada core business\"\nis a digital solutions business that solves management and\nbusiness issues by converting customer data into value using\nLumada Business Revenues\nLumada core business\nLumada related business\n• Yoy\n1,560. bilion yen)\n+42%\n1,037.0\n444.0\n+7%\n> 1,110.0\n438.0\n680.0\n900.0\n593.0\n672.0\nFY2019\nFY2020\nFY2021 (Forecast)\nAl and other digital technologies. \"Lumada related businesses\"\nare defined as advanced products and systems businesses,\ncentered on OT and products that have prospects for synergies\nwith the Lumada core business.\nIn the railway systems business, for example, OT and product\ndata are collected through sensors installed in rolling stock,\nsignaling systems, and other elements positioned as Lumada\nrelated businesses, and these data are analyzed using the\ndigital solutions that represent the Lumada core business to\ndetect signs of failure. This enables efficient maintenance to\nprevent failures before they occur and to increase operating\nrates. In this way, digital solutions enable a shift toward high-\nvalue-added, high-profit operations in the related OT and\nProduct businesses.\nBy undertaking both the Lumada core business and Lumada\nrelated businesses while using the domain knowledge and\nassets cultivated through the five sectors and at Hitachi\nAstemo, we will deepen the integration of OT × IT x Products\nand expand these businesses.\nIn April 2021, Hitachi was authorized by the Japanese Ministry\nof Economy, Trade, and Industry as a \"DX-certified operator.\"\nIn June 2021, we received the DX Grand Prix 2021 award in\n\"Digital Transformation Brand 2021,\" which is selected by the\nMinistry of Economy, Trade, and Industry and the Tokyo Stock\nExchange. This award recognizes that Lumada has been used\nto support the acceleration of DX for customers and society,\nand that it has already tied into the rollout of\nglobal business, demonstrating that DX is\nan engine for changing entire companies. We\nsee this as the most significant recognition\nyet that Hitachi itself continues to undergo\na transformation through the Lumada\nDXS592021\nDiaital Transformation\nbusiness.\nLumada is used in a wide range of operational\nfields at Hitachi, including sales, procurement, production,\nmaintenance, and management. In fiscal 2020, there was a\ncumulative total of 257 examples of applications related to in-\nhouse IT services, more than twice the number in fiscal 2018.\nListed subsidiaries\n16%\nSmart Life\n7%\nMobility\n20%\nIndustry\n13%\nComponent ratio of\nLumada business\nrevenues by segment\nin FY2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_revenue_growth",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 8729.1bn, prior year: 8767.2bn",
      "golden_context": "Page 26:\n\n\nEnvironmental\nvalue\nEconomic\nvalue\nResolve social and management issues by\nfocusing on three key areas\nEnvironment\nResilience\nSecurity & Safety\nBusiness Performance\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nNet income attributable to Hitachi, Ltd. stockholders\nOverseas revenues ratio\nCash flows from operating activities\nROIC\nPerformance by Segment\nSegment\nItem\nIT\nEnergy\nIndustry\nMobility\nSmart Life\nAutomotive\nSystems\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted operating income / ratio\nEBIT / EBIT ratio\nROIC\nRevenues\nAdjusted Operating income / ratio\nEBIT / EBIT ratio\nROIC\n*Announced on July 30, 2021\n24 Hitachi Integrated Report 2021\nFY2019 results\n8,767.2 billion yen\n661.8 billion yen / 7.5%\n183.6 billion yen / 2.1%\n87.5 billion yen\n48 %\n560.9 billion yen\n9.4 %\nFY2019 results\n2,099. 4 billion yen\n249.4 billion yen / 11.9%\n214.4 billion yen / 10.2%\n18.4%\n399.2 billion yen\n13.5 billion yen / 3.4%\n(375.7) billion yen / (94.1)%\n6.4 %\n840.7 billion yen\n54.7 billion yen / 6.5%\n57.8 billion yen / 6.9%\n8.6 %\n1,144.4 billion yen\n92.3 billion yen / 8.1%\n112.3 billion yen / 9.8%\n11.3%\n2,1667.6 billion yen\n118.9 billion yen / 5.5%\n90.0 billion yen / 4.2%\n8.0 %\n-\nFY2020 results\n8,729.1 billion yen\n495. 1 billion yen / 5.7%\n850.2 billion yen / 9.7%\n501.66 billion yen\n52 %\n793.1 billion yen\n6.4 %\nFY2020 results\n2,048.7 billion yen\n269.4 billion yen / 13.2%\n244.8 billion yen / 12.0%\n17.8 %\n1,107.9 billion yen\n(47.7) billion yen / (4.3)%\n(55.5) billion yen/ (5.0)%\n(2.7)%\n830. 1 billion yen\n45.5 billion yen / 5.5%\n42.3 billion yen / 5.1%\n6.1 %\n1,199.6 billion yen\n74.7 billion yen / 6.2%\n129.0 billion yen / 10.8%\n8.9 %\n1,252.7 billion yen\n79.4 billion yen / 6.3%\n202.1 billion yen / 16.1%\n8.7 %\n987.5 billion yen\n34.7 billion yen / 3.5%\n4.3 billion yen / 0.4%\n3.1 %\nFY2021 forecast*\n9,500.0 billion yen\n740.0 billion yen / 7.8%\n820.0 billion yen / 8.6%\n550.0 billion yen\n750.0 billion yen\n8.3 %\nFY2021 forecast*\n2,200.0 billion yen\n263.0 billion yen / 12.0%\n246.0 billion yen / 11.2%\n12.7 %\n1,320.0 billion yen\n30.0 billion yen / 2.3%\n37.0 billion yen / 2.8%\n1.9 %\n850.0 billion yen\n69.0 billion yen / 8.1%\n59.0 billion yen / 6.9%\n8.7 %\n1,250.0 billion yen\n102.0 billion yen / 8.2%\n124.0 billion yen / 9.9%\n10.2 %\n1,000.O billion yen\n97.0 billion yen / 9.7%\n150.0 billion yen / 15.0%\n10.8 %\n1,600.0 billion yen\n97.0 billion yen / 6.1%\n76.0 billion yen / 4.8%\n6.3 %\n\n\nInputs for Promoting Strategy\nIN\nStrategy 1\n• Grow Highly Profitable Businesses\nwith Digital Technology\n• Achieve Robust Growth in the Lumada\nBusiness\n• Further Acceleration of Global Rollout\n• Hitachi's Strengths in DX for Social\nInfrastructures\n• The Chain of Value Creation and Expansion\nto Ecosystems That Initiate Cycles\n• Strengthening and Training Talent That\nDrives the Social Innovation Business\n• Examples of Value Creation through\nLumada Solutions\n• Expanding the Social Innovation Business\nby Entrenching the Value of Co-Creation\n• Creation of Social and Environmental\nValue\n• Become a Climate Change Innovator\n• Realization of a Decarbonized Society\nExpand Revenues by Accelerating the Social Innovation Business\nKPI\nRevenues of Lumada business\nLumada core business\nLumada related business\nFY2019\n1,037.0 billion yen\n593.0 billion yen\n444.0 billion yen\nFY2020\n1,110.0 billion yen\n672.0 billion yen\n438.0 billion yen\nCustomer cases\nOver 1,000\nSolution cores\nOver 85\nDigital talent\nLumada overseas revenue ratio\nReduction rate in COz emissions per unit\n(products and services) (compared with FY2010)\nReduction rate in total COz emissions\nat business sites (factories and offices)\n(compared with FY2010)\neduction rate in water use per un\nompared with FY201(\nReduction rate in waste and valuables\ngeneration per unit (compared with FY2010)\n30,000\nApprox. 40%\n35,000\nApprox. 30%\n19%\n20%\n17%\n39%\n26%\n24%\n14%\n14%\nStrategy 2\n• Hitachi's R&D\n- Value-based Innovation\n• The Strength of Hitachi's R&D\n• Strengthening R&D and Future Directions\nEnhance Global Competitiveness\nKPI\nR&D expenses to sales revenues ratio\nRatio of non-Japanese executives*\n• Further Evolution of Lumada\n• Initiatives in Intellectual Properties\nRatio of female executives*\nFY2019\n3.4%\n8.6%\n7.1%\n700\nFY2020\n3.4%\n11.6%\n10.1%\n768\nNumber of female managers\nEngagement indicator of employee survey\n• Global Human Capital that Provides\nValue to Society through the Social\nInnovation Business\n• Global Human Capital Management Strategy\n• Diversity & Inclusion\n• Target and Actions for Diversity & Inclusion\n• Framework for Global Human Capital\nManagement\n• Building Workplaces That Offer Job\nSatisfaction\n60%\n62%\n*Executive officers, Corporate officers, and Fellows\nStrategy 3\nReinforce Management System to Improve Profitability\n• Progress of ROIC Management\n• Financial and Capital Strategy\n• Capital Allocation\n• Strengthening the Management\nBase through the Standardization\nof Global Operations\nKPI\nFY2019\nFY2020\nROIC\nAdjusted operating income ratio\nOperating cash flows\nGrowth Investment\n9.4%\n6.4%\n7.5%\n5.7%\n560.9 billion yen\n793. 1 bilion yen\nApprox. 200.0 billion yen Approx. 1,700.0 billion yen\nVision\nValue Creation\nSust\ntainability\n25\n\n\nCOO Message\nCreating a Growth Story for the Next 10 Years\nwith the Lumada Business at the Core\nQ\nYou were appointed President and COO in\nJune of this year. Can you tell us about\nyour aspirations for this position?\nFor about 10 years following the financial crisis that began with\nthe collapse of Lehman Brothers, successive management teams\nimplemented drastic structural reforms to transform Hitachi into\na global company. They took a number of steps to accomplish\nthis, one of the most prominent examples was the restructuring\nof the company's business portfolio. Now that these structural\nreforms have had time to take effect and serve as the foundation\nfor growth, we are approaching a business portfolio that is well-\nequipped for future success. My mission is to create a path for\nHitachi's continued growth over the next 10 years based on this\nfoundation. This is very satisfying and meaningful work.\nBack when I was serving as CTO, Mr. Nakanishi, the former\nExecutive Chairman, communicated a strong message to me\nwhen he told me that \"the Social Innovation Business is Hitachi's\ncore.\" This stuck with me and ever since I have worked to\nexecute reforms at research laboratories worldwide to strengthen\nHitachi's innovation capabilities. First, I undertook a major change\nin direction as I prioritized creating an R&D structure close to\nsociety and the customers. Specifically, rather than using the\nconventional approach of creating products as an extension of\nfundamental research and elemental technologies, I encouraged\nan approach of identifying social issues and back-casting from\nfuture forecasts to define our key research themes. Ever since we\nbegan the Lumada business in 2016, we have invested immense\nenergy into expanding this business. Since my first encounter\nwith database research, I have been confident that data was an\nimmensely valuable resource which would be a driving force that\ncould change the world. Now that we are approaching the final\nform of the business portfolio, we will create and follow a path\nin which the Lumada business serves as a driver for Hitachi to\nachieve the next stage of growth.\nKeiji Kojima\nPresident & COO\nQ\nPlease tell us about the direction and key\ninitiatives driving the creation of the next\nMid-term Management Plan.\nTo guide future growth, we must tie the assets acquired\nthrough large-scale M&As into a comprehensive plan to\nsteadily increase corporate value. The key words in this\nregard are simplicity, digitalization, and globalization of\nmanagement.\n26 Hitachi Integrated Report 2021\n\n\nHitachi's business can be separated into three main\ncategories: IT, projects,\nand design/manufacturing.\nManagement must be simple to ensure the efficient use\nof assets characterized by different risks and\ngrowth\nmechanisms. Acting with speed is also crucial in achieving\ncontinued growth that keeps pace with changes in the world\nat large. Finally, the effective use of digital technologies in\nmanagement is key to increasing speed.\nThe structural reforms that Hitachi has implemented have\nbeen executed to achieve global growth. We are promoting\nintegration with overseas companies that have recently\njoined the Hitachi Group, including Hitachi ABB Power Grids\nand GlobalLogic, and we are making a full-scale shift toward\nmanagement from a global perspective. We are building\nan operational structure that will enable us to demonstrate\neffective Group synergies, while at the same time preserving\nthe speed and culture of a top global company. To do this,\neven as we press forward with the globalization of existing\nHead Office functions, we will further accelerate growth\nby establishing smaller global corporate functions in each\nregion to complement those Head Office functions.\nYou said that the Lumada business holds\nthe key to growth. How much progress do\nyou think has been made toward realizing\nthe future vision for this business?\nTo me, the starting point for Lumada is co-creation with\ncustomers aimed at resolving social issues. When we began\nLumada, we said that researchers would share social issues\nwith customers and undertake co-creation to resolve those\nissues, and then transfer the insight gained from these\nframeworks and systems to the business side, to provide them\nin the form of the Social Innovation Business. Up to now, we\nhave expanded co-creation-style Sl with a particular focus\non the IT sector and have used this approach to vigorously\npromote the Lumada business. The IT sector has grown to\nthe point where it currently generates about half of Hitachi's\nincome, but it only accounts for about 20% of sales. Our next\nmanagement goal is to accelerate the digitalization of project\nand design/manufacturing assets, which account for most of\nthe Hitachi Group's sales. Digitalization is moving forward in\nbusinesses that demonstrate a strong affinity with the Lumada\nbusiness,\nsuch as the Building Systems Business Unit.\nHowever, from this point onward we will go one step further,\nplacing all of Hitachi's businesses on the Lumada platform to\naccelerate growth. In addition, we need to promote full-scale\nglobalization, mainly through Hitachi Vantara, which drives the\nLumada business on a global scale. In that sense, I would\nsay that right now, we have achieved 30% or 40% of our\n\"aspirations.\"\nHitachi ABB Power Grids, which we acquired last year, is\npositioned not as a business in the Energy sector but rather\nas a core business that supports the environment, one of\nthe three fields where we can demonstrate growth through\nLumada.\nAs we move forward toward our goal of carbon\nneutrality for the Hitachi Group as a whole, Hitachi ABB Power\nGrids has an important role to play as a crosscutting business\nthat creates synergies with all sectors. GlobalLogic is similar in\nthat its business demonstrates great value and synergies with\nall sectors. We will link these newly secured resources with all\nour businesses while working to accelerate global expansion\nand growth in the Lumada business.\nVision\nMoving forward, what are the main markets\nand fields where you expect to see the most\ngrowth in the Lumada business?\nThe markets where I expect to see the most growth are\nNorth America and India. North America-particularly the\nUnited States-is investing aggressively in infrastructure,\nand various domestic industries are seeing a recovery, so l\nsee this as a growth market with huge potential. India, which\nhas become the world's largest source of digital talent, is\nalso a key area that we approach alongside North America\nas we work to expand the Lumada business. Japan also\nhas many companies that create outstanding products, so l\nthink this market has great potential as well.\nThe sectors that demonstrate the greatest growth potential\ninclude the Industry sector and the Smart Life sector,\nespecially the field of genetic engineering, which includes\nregenerative medicine and iPS cells.\nValue Creation\nSustainability\nQ\nIn closing, please tell us President\nKojima's guiding principles, and\ngive us a message for stakeholders.\nHitachi's core principle of contributing to society through\nthe power of technology remains unchanged. With\nthat in mind, I will continue my unwavering efforts to\nmaintain a bird's-eye view of all technological innovation\nas it unfolds-not only Hitachi's technologies but also\ntechnologies in completely different fields-and to\nconstantly monitor those trends. This approach has been\nshaped by my own pride as a researcher.\nI can declare without fear that we will undoubtedly\nachieve our goal of recording \"10 years of growth\"\nmoving forward, and I will embody in my actions the\nmotto \"Always follow through on your promises,\" which\nI once saw displayed at the Central Research Laboratory\nand which has become a central part of my philosophy.\nDuring this coming decade of growth, one major theme\nwill be to enhance returns to all stakeholders, including\nshareholders, investors and employees. My goal is to gain\npeople's understanding and support by communicating\nmy own thoughts on matters such as growth strategies\nand to comment on the progress of those strategies in a\ntransparent and easy-to-understand way.\nGovernance\nData\n27\n\n\nStrategy 1\nExpand Revenues by Accelerating\nthe Social Innovation Business\nUsing data to pick up on signs of change, we will create new value with customers for the next stage of society, as part of\nour efforts to achieve social innovations that increase the corporate value for customers and the quality of life for people\neverywhere. This is the essence of Lumada. Leveraging the strengths of Operational Technology (OT) x Information Technology\n(IT) × Products that Hitachi has cultivated over many years, we will accelerate the Social Innovation Business using Lumada on\na global scale.\nIn 2020, due to the COVID-19, the global business community faced a major turning point, and a variety of hidden social issues\ncame to light. Digital solutions that take full advantage of digital technologies such as Al and loT are essential in this era of the\nnew normal. By building new partnerships that transcend the boundaries of various industries, we will provide even greater value\nto society.\nGrow Highly Profitable Businesses with Digital Technology\nAchieve Robust Growth in the Lumada\nBusiness\nThe Lumada business has a high adjusted operating income\nratio (more than 10%), and revenues are increasing. We posted\nrevenues of 1.11 trillion yen in fiscal 2020 and expect 1.58\ntrillion yen in fiscal 2021. Moving forward, through integration\nwith GlobalLogic, for which the acquisition was completed\nin July 2021, we will strive to capture growth in the rapidly\nexpanding global market for digital transformation to achieve\nboth high business growth and profitability with revenues of\n3 trillion yen and adjusted operating income of 500 billion yen\nin fiscal 2025.\nIn the Lumada business, we leverage the expertise that Hitachi\nhas accumulated in the fields of OT (operation and control\ntechnologies), IT (including Al and analytics) and products\n(including industrial devices, rolling stock, and elevators, etc.)\nto provide digital solutions that resolve customers' issues and\nincrease social, environmental and economic value.\nThe Lumada business comprises the Lumada core business\nand Lumada related businesses. The \"Lumada core business\"\nis a digital solutions business that solves management and\nbusiness issues by converting customer data into value using\nLumada Business Revenues\nLumada core business\nLumada related business\n• Yoy\n1,560. bilion yen)\n+42%\n1,037.0\n444.0\n+7%\n> 1,110.0\n438.0\n680.0\n900.0\n593.0\n672.0\nFY2019\nFY2020\nFY2021 (Forecast)\nAl and other digital technologies. \"Lumada related businesses\"\nare defined as advanced products and systems businesses,\ncentered on OT and products that have prospects for synergies\nwith the Lumada core business.\nIn the railway systems business, for example, OT and product\ndata are collected through sensors installed in rolling stock,\nsignaling systems, and other elements positioned as Lumada\nrelated businesses, and these data are analyzed using the\ndigital solutions that represent the Lumada core business to\ndetect signs of failure. This enables efficient maintenance to\nprevent failures before they occur and to increase operating\nrates. In this way, digital solutions enable a shift toward high-\nvalue-added, high-profit operations in the related OT and\nProduct businesses.\nBy undertaking both the Lumada core business and Lumada\nrelated businesses while using the domain knowledge and\nassets cultivated through the five sectors and at Hitachi\nAstemo, we will deepen the integration of OT × IT x Products\nand expand these businesses.\nIn April 2021, Hitachi was authorized by the Japanese Ministry\nof Economy, Trade, and Industry as a \"DX-certified operator.\"\nIn June 2021, we received the DX Grand Prix 2021 award in\n\"Digital Transformation Brand 2021,\" which is selected by the\nMinistry of Economy, Trade, and Industry and the Tokyo Stock\nExchange. This award recognizes that Lumada has been used\nto support the acceleration of DX for customers and society,\nand that it has already tied into the rollout of\nglobal business, demonstrating that DX is\nan engine for changing entire companies. We\nsee this as the most significant recognition\nyet that Hitachi itself continues to undergo\na transformation through the Lumada\nDXS592021\nDiaital Transformation\nbusiness.\nLumada is used in a wide range of operational\nfields at Hitachi, including sales, procurement, production,\nmaintenance, and management. In fiscal 2020, there was a\ncumulative total of 257 examples of applications related to in-\nhouse IT services, more than twice the number in fiscal 2018.\nListed subsidiaries\n16%\nSmart Life\n7%\nMobility\n20%\nIndustry\n13%\nComponent ratio of\nLumada business\nrevenues by segment\nin FY2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000429_segments",
      "report_id": "ID_000429",
      "company_name": "Hitachi",
      "year": 2021,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Others, Hitachi Metals, Hitachi Construction Machinery, Automotive Systems, Smart Life, IT, Energy, Industry, Mobility",
      "golden_context": "Page 16:\n\n\nSustainability\nGovernance\n13\n\n\nBusiness of the Hitachi Group\nOur 2021 Mid-term Management Plan, launched in April 2019, focuses on simultaneously improving social, environmental,\nand economic value, and establishes five business sectors (IT, Energy, Industry, Mobility, and Smart Life) for the creation of\nsocial innovation. From April 2021, the Automotive Systems business (Hitachi Astemo) was made independent from the Smart\nLife sector, as we undertake business with the goal of creating further value through the six segments. Through solutions that\nleverage know-how in social infrastructure businesses and technologies, where Hitachi has been active for many years, and\nwhich combine Lumada with Hitachi's knowledge in each segment, we will contribute to improving people's quality of life and\nincreasing value for customer companies.\nRevenues\nComposition ratio (%)\nAdjusted Operating Income\nComposition ratio (%)\nOthers\n5%\nHitachi Metals\n8%\nHitachi Construction\nMachinery\n8%\nIT\n21%\nHitachi Metals\n(1)%\nHitachi Construction Machinery\n6%\nAutomotive\nSystems\n7%\nOthers\n4%\nAutomotive\nSystems\n10%\nRevenues\nby segment\n·8,729.1\nSmart Life\n16%\nEnergy\n12%\nAdjusted operating\nincome by segment\n·495.1 billion\n(FY2020)\nIT\n53%\nSmart Life\n14%\nIndustry\n9%\nMobility\n15%\nMobility\n13%\nIndustry\n9%\nEnergy\n(9)%\nRevenues by Region\nComposition ratio (%)\nRevenues/Adjusted Operating Income Ratio/\nNet Income\nEurope\n11%\n·1.013.4 billion\nRevenues (billion yen)\n-•- Adjusted operating income ratio (%)\nNet income attributable to Hitachi, Ltd. stockholders (billion yen)\n(billion yen)\n(%)\n10,000\n9,162.2\n9,368.6\n10\n9,480.6\n9,500.0\nASEAN, India\nand others\n10%\n·850.3 billion\nNorth America\n13%\n·1,117.5 billion\n8,767.2 8,729.1\n800\n8\n07.5\n07.8\n8.0\nOverseas\nrevenues ratio\n52%\nChina\n(FY2020)\n12%\n·1,043.2 billion\n7.6\n600\n06.4\n400\n© 5.7\n501.6\n6\n550.0\n4\n362.9\nJapan\n48%\n·4,154.8 billion\n200\n231.2\n222.5\n2\n87.5\nOther Areas\n6%\n·549.7 billion\nFY2016 FY2017 FY2018 FY2019 FY2020 FY2021\n(Forecast)*\n*Announced on July 30, 2021\n14 Hitachi Integrated Report 2021\n\n\nMain products and services\n• Digital solutions (Consulting, software,\ncloud services, system integration,\ncontrol systems)\n• IT products (Storage, servers)\n• ATMs\nMain products and services\n• Energy solutions\n(Power grids, nuclear, renewable\nenergy, thermal)\nVision\nEnergy\nValue Creation\nMobility\n- LUMADA\nRevenues of\nLumada Business\n·1,110.0 billion\n(FY2020)\nIndustry\nMain products and services\n• Building systems\n(Elevators, escalators)\n• Railway systems\nMain products and services\nIndustry & distribution\nsolutions\nWater & environment\nsolutions\nl Industrial machinery\nSustainability\nAutomotive Systems\nMain products and services\n• Powertrain, chassis,\nadvanced driver assistance,\nmotorcycle systems\nSmart Life\nMain products and services\n• Smart life & eco-friendly systems\n(Home appliances, air-conditioning systems)\n• Measurement & analysis systems\n(Medical and bio, semiconductors, industry)\nHitachi Construction\nMachinery\nListed subsidiary\nOwnership percentage of voting rights: 51.5%\nMain products and services\n• Hydraulic excavators\nWheel loaders\n• Mining machinery\nMaintenance and services\nI Construction solutions\n• Mine management systems\nHitachi\nMetals\nListed subsidiary\nNote: Scheduled to be\nsold by\nthe end of fiscal 2021\nOwnership percentage of voting rights: 53.4%\nMain products and services\n• Specialty steel products\nI Functional components and equipment\n• Magnetic materials\nand power electronics materials\n• Wires, cables, and related products\n15\n\n\nHitachi's Global Business Portfolio\nOverseas revenues account for 52% of total revenues for Hitachi, which strives to be a global leader in the Social Innovation\nBusiness. By combining Lumada with the global business portfolio that has been built up in each region and business, Hitachi\nwill further accelerate its global rollout and expand the value created and realized through the Social Innovation Business on a\nglobal scale.\nRailway\nAutomotive",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_cash_flow",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flows: approx. 2100bn",
      "golden_context": "Page 7:\n\n\n3. Promoted globalization\n• Relocated the railway systems business headquarters\n• Introduced Global Performance Management aimed\nat enhancing the use of global human capital\nMid-term Management Plan 2021 (FY2019-2021)\nRealized Social Innovations with Digitalization, Built a Platform for Global Growth\n(billion yen)\nChallenges\n• Business growth through expansion of\nco-creation with Lumada as a core\n• Completing business portfolio revisions\n• Improving capital efficiency\nMid-term Management\nPlan 2021 targets\n(as announced in April 2021)\nFiscal 2021\nresults\nRevenue\n9,500.0\n10,264.6\nPerformance targets and results\nAlthough targets at the start of fiscal\n2019 were revised due to the COVID-19\npandemic in 2020, revenue expanded,\nprofitability was maintained and operating\ncash flows were generated, and net income\nattributable to Hitachi, Ltd. stockholders\nreached an all-time high.\nAdjusted operating\nincome/ratio\n740.0 / 7.8%\n738.2 / 7.2%\nNet income attributable to\nHitachi, Ltd. stockholders\n550.0\n583.4\nOperating cash flows\n(FY2019-2021 cumulative total)\nOver 2,100\nApprox. 2,100\nROIC\n8.3%\n7.7%\nAchievements\n1. Launched the digital business platform and achieved growth\n• Launched the Lumada Solution Hub and Lumada\nAlliance Program\n• Expanded Lumada business revenue from 1.1 trillion\nyen to 1.6 trillion yen\n2. Enhanced efforts toward digital and environmental growth\n• 2019: Acquired JR Automation\n• 2020: Made Hitachi High-Tech a wholly owned\nsubsidiary Established Hitachi ABB Power\nGrids (now Hitachi Energy)\n• 2021: Established Hitachi Astemo\nAcquired GlobalLogic\nTransferred the diagnostic imaging-related business\nParticipated in COP26 as a principal partner\nMid-term Management Plan 2018 (FY2016-2018)\nStrengthened the Social Innovation Business Leveraging Digital Technologies\nChallenges\n• Speeding up management to rapidly respond to changes in market environments\n• Launching a platform for digital growth\n• Addressing low-profit businesses to improve profitability\nAchievements\n1. Transitioned away from a product-based company\n4. Executed ongoing business reviews\nsystem to a three-level structure comprising\n• Divestiture and deconsolidation of listed\nfrontline, platform, and product tiers\nsubsidiaries\n• Accelerated decision-making with the introduction\nDivestiture of Hitachi Koki and Clarion\nof a business unit system\nSold a part of shares in Hitachi Transport\n2. Strengthened the global frontline\nSystem, Hitachi Capital, and Hitachi Kokusai\n• Bolstered global frontline operations through\nElectric\nacquisitions (Ansaldo STS, Sullair)\n• Reduced/Withdrew from low-profit businesses\n3. Expanded the digital solutions business with Lumada\nsuch as the information and telecommunications\n• Launched Lumada\nequipment business and the overseas EPC\n• Established Hitachi Vantara to deliver digital solutions\nbusiness\n• Lumada business revenue grew to 1 trillion yen\n3. Reinforced and improved the business foundation\nby resolving management issues\n• Made progress in reviewing the capital policies\nof listed subsidiaries\n• Divestiture of Hitachi Chemical and Hitachi Metals*\n• Sale of a part of shares in Hitachi Construction\nMachinery and Hitachi Transport System*\n• Responded to management issues\n• Settled with Mitsubishi Heavy Industries on\nSouth Africa projects\n• Withdrew business operations on the UK nuclear\npower stations construction project\n• Promoted diversity, increased digital talent, and\nenhanced risk management\n*Scheduled for completion during fiscal 2022\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n7\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nPromoting Sustainable Management\n2019\nCommenced operation of the\nHitachi Internal Carbon Pricing\n(HICP) system\n2020\nSet the target of achieving\ncarbon neutrality at Hitachi business sites\nby fiscal 2030\n2018\nAnnounced endorsement of Task Force on Climate-related\nFinancial Disclosures (TCFD) recommendations\nEnvironment\n2016\nFormulated Hitachi Environmental\nInnovation 2050\nSocial\nЯ\n2021\nSet the target of achieving\ncarbon neutrality throughout the\nentire value chain by fiscal 2050\n2022\nSet the target of contributing to COz emission reductions\nthrough business (100 million metric tons in fiscal 2024)\nGovernance\n2013\nFormulated Hitachi Group\nHuman Rights Policy, Launched\n2019\nHuman Rights Due Diligence (HRDD) initiative\n• Instituted the Hitachi Group\n2011\nGlobal Procurement Code,\nIntroduced global\nEnhanced digital talent\nHR management\n2003\nShifted to a company with\ncommittees\n(currently a company with a\nnominating committee, etc.)\n2016\nPromoted workstyle\nreforms\n2017\nSet diversity\ntargets\n2021\nSet Diversity,\nEquity and Inclusion\n(DEI) targets\nRatio of female and non-Japanese executive\nand corporate officers\nFY2024: 15% each FY2030: 30% each\n2010\nEnhancement of interactions with Capital Markets\nHitachi IR Day was launched\n2012\nIncreased number\n2016\nof independent\ndirectors, including\nnon-Japanese\ndirectors\n2000\n2010\nEnhanced dissemination\nof information about\nmedium- to long-term\nsustainable growth\n2020\n2021\nIntroduced evaluation system\nthat considers environmental value\ninto short-term incentive compensation for executive officers\n2030\n2050\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\n8\nGlobal Business Overview\nBusiness of the Hitachi Group\nIn April 2022, Hitachi formulated the Mid-term Management Plan 2024 targeting further global advances and growth in the Social Innovation Business based on three pillars of growth: digital, green and innovation.\nTo increase management efficiency and speed, we simplified our structure, grouping together businesses with similar characteristics organized into three sectors: Digital Systems & Services (DSS), Green Energy\n& Mobility (GEM) and Connective Industries (CI). Together with customers, we will resolve social issues leveraging a business structure that includes the Automotive Systems Business (Hitachi Astemo).\n• Digital Systems & Services\nMain products and services\nO Front Business: IT and digital systems in mission-critical fields\nsuch as financial institutions, public offices, municipalities and\nsocial infrastructure\n• IT Services: DX solutions and services\n© Services & Platforms: Designs, digital engineering, data\nanalytics, cloud services and IT products\nOthers\n4%\nHitachi Metals\n9%\nHitachi Construction\nMachinery\n9%\nAutomotive\nSystems Business\n15%\nConnective Industries\nDigital Systems &\nServices\n20%\nRevenue\n10,264.6\nbillion yen\n(FY2021)\nMain products and services\n© Urban Group: Elevators, escalators and building services,\nhome appliances, air-conditioning systems\n© Advanced Technologies Group: Healthcare (clinical chemistry\nand immunochemistry analyzers, automated cell culture\nequipment, particle therapy system, etc.), measurement and\nanalysis (semiconductor metrology/inspection equipment,\nelectron microscopes, etc.)\n© Industry Group: Industry & distribution solutions, robotics\nSI, water supply and sewage, utilities solutions, industrial\nequipment\nGreen Energy & Mobility\nMain products and services\n• Energy solutions (power grids, nuclear, renewable and\ndistributed power sources)\n© Railway systems (rolling stock, signals, controls, services\nand maintenance, smart mobility, turnkey)\nSource: Aibel\nGreen Energy &\nMobility\nConnective Industries\n18%\n25%\nOthers\n3%\nHitachi Metals\nDigital Systems &\n4%\nServices\nHitachi Construction\nMachinery\n33%\n12%\nAdjusted EBITA\nAutomotive\nSystems Business\n855.3\n7%\nbillion yen\nGreen Energy &\nConnective\n(FY2021)\nIndustries\nMobility\n11%\n30%\nNotes:\n1 Figures based on new segment classifications applied from fiscal 2022 onward.\n2 Hitachi Construction Machinery was deconsolidated on August 23, 2022. Hitachi Metals is\nscheduled to be removed from the scope of consolidation in March 2023.\n3 Adjusted EBITA = Adjusted operating income - acquisition-related amortization + equity in\nearnings (losses) of affiliates\nAutomotive Systems Business\nMain products and services\n© Powertrains, chassis, advanced driver assistance, motorcycle\nsystems\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nGlobal Business OvervieW (As of March 31, 2022)\nOverseas revenues account for 59% of total revenues for Hitachi.\nBy combining Lumada with global business portfolios built up in each region and business, Hitachi will further accelerate its global rollout\nand expand the value created and realized through the Social Innovation Business on a global scale.\n• Digital Systems & Services\n• Green Energy & Mobility\n• Connective Industries\n• Automotive Systems Business\n| Others (Including Hitachi Construction Machinery, Hitachi Metals)\nChina\nNumber of\nemployees\nApprox. 51,000\nNumber of\nsubsidiaries\n136\nPower\nGrids BU\nRevenues\n1,331.6\nbillion yen\nComponent ratio\n13%\nBuilding\nSystems BU\nHitachi High-Tech\nJapan\nNumber of\nemployees\nApprox. 157,000\nBuilding\nSystems BU\nRevenues\n4,187.0\nbillion yen\nComponent ratio\n41%\nHitachi\nGlobal Life\nSolutions\n9\nNumber of\nsubsidiaries\n158\n& Energy BI\nIndustry Group\nNorth America\nNumber of\nemployees\nApprox. 28,000\nNumber of\nsubsidiaries\n97\nRevenues\n1,555.1\nbillion yen\nComponent ratio\n15%\nPower\nGrids BU\nRailway\nSystems BU\nIndustry Group\nHitachi High-Tech\nOther areas\nNumber of employees\nApprox. 20,000\nHitachi High-Tech\nNumber of subsidiaries\nRevenues\n115\n708.1 billion yen\nEurope\nNumber of\nemployees\nApprox. 43,000\nRevenues\n1,299.4\nbillion yen\nComponent ratio\n13%\nNumber of\nsubsidiaries\n148\nPower\nGrids BU\nRailway\nSystems BÚ\nASEAN, India, and other areas\nNumber of\nNumber of\nemployees\nsubsidiaries\nApprox. 70,000\n200\nRevenues\n1,183.2\nbillion ven\nComponent ratio\n11%\nPower\nGrids BU\nRailway\nSystems BU\nHitachi High-Tech\n• 19 customer\nco-creation centers\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n10\nCFO Message\nCEO Message\nHitachi is Constantly Growing Thanks to\nOur Employees and Technology\nAccelerating Transformation Through\nMode Change for Growth\nHitachi is finishing up a decade-long structural reform and has begun moving towards\nsincere growth. I was determined when I became CEO in April 2022, during the launch of the\nMid-term Management Plan 2024, to take the baton and continue Hitachi's transformation,\nemphasizing the history and values assembled by Hitachi since its founding.\nWe will continue to build a Hitachi that is always changing thanks to our employees and\ntechnology while also reconfirming our DNA of transformation that has led us to continue\nrestructuring in accordance with social changes.\nPresident & CEO\nKeiji Kojima\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nCEO Message\nThe Story of Collaborative Value Creation with Stakeholders\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n11\nCFO Message\nI Reconfirmation of History and Values for the Next Decade\nSince its establishment in 1910, Hitachi has grown together with the development of society and the economy, operating under a foundational\nMission set by founder Namihei Odaira: \"Contribute to society through the development of superior, original technology and products.\" With this\nguiding principle, we have resolved issues facing society through the development of technologies and products that support social infrastructure.\nAs a student, I visited Hitachi's Central Research Laboratory in Tokyo for the first time. I remember being impressed that Hitachi appreciated\ntechnology above all else, which made me decide to begin my career with the company as a researcher. I was heavily involved in database\nresearch during that time and once again realized the company's unique attitude towards valued technology. Hitachi's culture of superior\nperformance and unparalleled functionality inspires me to never compromise. Hitachi has continued to grow while championing the ideas\npassed down from those who came before us. We proudly continue developing new technologies and pioneering services that support social\ninfrastructure —that is, enhancing people's lives.\nHitachi is also an organization that can cope with social changes and continuously transform without fear. Our vision of being a Social Innovation\nBusiness as promoted by previous CEOs enabled us to come out of the red following the global financial crisis. To avoid future financial issues,\nwe shifted back to the true DNA of Hitachi and continue to seek transformation and strategize to solve future social issues. Lumada is a great\nsymbol of this as it was launched in 2016 to offer solutions that deal with the shift towards digitalization in society that we are experiencing today.\nThe Lumada concept started when I was CTO in 2014, when it was predicted that the Internet of Things would be the next big social trend.\nWe created a business model framework that offers value by collaborating with customers and leveraging Hitachi's rich IT and OT (operational\ntechnologies) expertise and technologies. We called this system, inspired by the wisdom of Silicon Valley's cutting-edge people, \"Lumada.\" In\naddition to data analytics and the knowledge of Al specialists, we also incorporated cultural anthropology, experience design and a variety of\nther viewpoints to construct the concept of \"people (customers).\" Hitachi's Lumada was finally launched in 2016, not only as a system to rur\napplications or software on platforms but also as a framework for co-creation too. In addition to expanding the Social Innovation Business, Hitach\ntook on the challenge of making a major transformation over the past decade and growing the Lumada business since 2016.\nI believe there is a great resemblance between Hitachi and a tree that is constantly evolving. Hitachi's\nbiggest strength is its ability to grow and transform to continuously solve social issues. In order for\nthe tree to continue to grow without weakening, we must change our business, shedding light on\nHitachi's branches and leaves, similar to the strategy we followed over the past decade. We have gone\nthrough that pruning. What kind of fruit will this tree produce? What sort of buds will become part of the\nnew trunk? Instead of creating finite products that cannot be altered, Hitachi consistently co-creates\nsolutions alongside society to meet current needs and improve quality of life. Hitachi's legacy is defined\nby the fruit— or results— of that tree. I believe it is vital for this tree to change forms along the way and\nfor Hitachi to continue taking on new challenges.\n• Hitachi's Central Research\nLaboratory\nstablished as a priman\nesearch laboratory in 194\nThrough its establishment,\ncomprehensive basic research\non electron microscopes and\nmore was strengthened from the\nstudy of prior developments and\nimprovements directly linked to\nproducts and further progress\nwas made in developing new\nproducts.\n• Lumada\n> P.24\n• Experience Design\nDesigning around the user's\nexperience value (experience).\nHitachi's Design Thinking\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nThe Value Creation Process\nBusiness Strategies\nSustainability\nMid-term Management Plan 2024\nCorporate Governance\nHuman Resources Strategies\nData\nFinancial Strategies\n12\nCFO Message\nI The Mid-term Management Plan 2021 Has Ended and the Groundwork for Growth over the Last Decade is Complete\nThe emergence of COVID-19 greatly affected social and economic activity worldwide during the three years between fiscal 2019 and 2021 in\nthe Mid-term Management Plan 2021. Since the second half of 2021, there have been shortages of semiconductors and the costs of materials\nhave skyrocketed. In 2022, the prices of resources, including crude oil and natural gas, have kept increasing due to the Russia-Ukraine situation,\nwhich exposed us to new geopolitical risks.\nThe major social and economic changes caused by COVID-19 also affected Hitachi's management. Nonetheless, we were able to achieve\nan adjusted operating income ratio of 7.2% in fiscal 2021. Under these conditions, Hitachi has set the goal of achieving a sustain",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_company_type",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 4:\n\n\n•Corporate Strategy\n(Mid-term Management Plan)\n•Investor Relations Website\nComprehensiveness\n*Statutory disclosure/timely disclosure\nReporting Scope Period: Fiscal 2021 (April 1, 2021-March 31, 2022)\nNote: Includes activities and other information occurring after April 1. 2022.\nCompanies: Hitachi, Ltd. and its consolidated subsidiaries\nAccounting Standard: Unless otherwise noted, this report is prepared ir\naccordance with U.S. GAAP through fiscal 2013 and\nwith the International Financial Reporting Standards\nDisclaimer Regarding Forward-looking Statements\nCertain statements regarding the future of the company set forth in this Report may constitute\n\"forward-looking statements,\" such as \"plan,\" \"forecast,\" \"target,\" and \"strategy.\" Although\nforward-looking statements contained in this report are based upon what the company has\ndetermined to be reasonable assumptions at the time of disclosure, actual performance and\nother results may differ materially from those anticipated in such statements.\n[ Website Information\nAbout the Hitachi Group\nJapanese https://www.hitachi.co.jp/\nEnglish\nhttps://www.hitachi.com/\nInvestor Relations\nEnglish https://www.hitachi.com/\nIR-e/\nSustainability\nJapanese https://www.hitachi.co.jp/\nsustainability/\nEnglish https://www.hitachi.com/\nsustainability/\n\n\nHitachi Integrated Report 2022\nEditorial Policy\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n3\nMessage to Stakeholders\nMessage to Stakeholders\n- On the Release of the Integrated Report\nHITACHI\nInspire the Next\nCreating Value through Dialogue and\nCo-Creation with Stakeholders,\nWith Our Employees as the Driving Force\nSince its founding in 1910, Hitachi has continued to grow and\ndevelop with society, the economy, and customers. For more\nthan 110 years, Hitachi has faced countless difficulties. However,\nwe have continued to transform ourselves to create value\nthrough co-creation with a diverse range of stakeholders.\nIn this Hitachi Integrated Report, we will showcase our sustained\nefforts, explain our vision and showcase the value Hitachi\nprovides to society. We hope this report gives our stakeholders\na better understanding of Hitachi's vision and creates value by\nencouraging further dialogue.\nIn the Mid-term Management Plan 2024, announced in April\n2022, we declared a mode change for growth focused on\nsupporting people's quality of life with data and technology that\nsolves social challenges, fostering a fully sustainable society. We\nare committed to further promoting Hitachi's Social Innovation\nBusiness. With planning, Hitachi can determine new business\nopportunities that should be undertaken now and in the mid to\nlong term to create a better, sustainable future. On a global scale,\nthe environment is reaching the limit of its ability to accommodate\nsafe living for humans (planetary boundaries). Recent changes to\nworkstyles and the diversification of personal values have made\nwellbeing (physical, mental, and social) a vital part of how we\nchoose to live and work. Helping to maintain a society that does\nnot exceed planetary boundaries while realizing wellbeing is\nthe path forward for Hitachi. Hitachi also practices sustainable\nmanagement which positions sustainability as the core of its\nbusiness strategy and implements measures to strengthen\nthe management foundation to facilitate global growth. More\nthan 300,000 members of the Hitachi Group will combine their\nstrengths to achieve a sustainable society and deliver value to\ncustomers and other respected stakeholders.\nThis report will describe Hitachi's future vision, management, and\nbusiness strategies under the Mid-term Management Plan 2024.\nIn addition, the report highlights the measures Hitachi is following\nto achieve a sustainable society. We have also clarified six critical\nissues in sustainable management in light of global initiatives\nand the expectations and needs of stakeholders. These issues\nalong with the business strategies described in the Mid-term\nManagement Plan, will be further discussed at meetings of the\nSenior Executive Committee and Board of Directors.\nWe understand the external environment has become\nincreasingly complex and diverse. The pandemic has made\nthe future difficult to predict, while climate change continues\nto cause a surge in natural disasters, and social divisions are\nleading to more political instability. However, we sincerely hope\nthis report will help you appreciate the progress Hitachi has\nmade and value the company's strategic, long-term growth.\nAs CEO, I can attest to the accuracy of the information described\nin this report and guarantee that it has been reviewed and\napproved among the directors and executive officers. As you\nread this report, please share your honest feedback with the\nHitachi management team. I hope that the Hitachi Integrated\nReport 2022 will help promote a deeper understanding of\nHitachi's value creation story and serve as an incentive for future\ndialogue and creating value with all stakeholders.\nPresident & CEO Keiji Kojima\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\n4\nGlobal Business Overview\nHitachi's History as a Corporate Citizenship with Innovation\nSince its establishment, Hitachi has operated under the Mission \"Contribute to society\nthrough the development of superior, original technology and products.\" In accordance with\nthis Mission, we have resolved issues facing society through the development of technologies\nand products that support social infrastructures. The Social Innovation Business creates new\nvalue for society by offering a combination of the OT (operational technology), IT (information\ntechnology), and products cultivated over Hitachi's 110-year history. Through this business,\nwe strive to improve people's quality of life and contribute to achieving a sustainable society.\nOriginally set by Hitachi founder Namihei Odaira, the Mission has been carefully passed on\nto generations of employees and stakeholders throughout the company's history. The Values\nreflect the Hitachi Founding Spirit, which was shaped by the achievements of our company\npredecessors as they worked hard to fulfill Hitachi's Mission. The Vision has been created\nbased on the Mission and Values. It is an expression of what the Hitachi Group aims to\nbecome in the future as it advances to its next stage of growth. The Mission, Values, and\nVision are made to be shared in a simple concept: Hitachi Group Identity.\nHistory of Hitachi, Ltd.\n1910\n1920\n1930\n1940\nHitachi Group Identity\nThe mission that Hitachi\naspires to fulfill in society\nThe values crucial to\nthe Hitachi Group in\naccomplishing its mission\nWhat the Hitachi Group\naims to become\nin the future\n1950\nMISSION\nVALUES\nVISION\nContribute to society through the development of\nsuperior, original technology and products\nHitachi Founding Spirit:\nHarmony, Sincerity, Pioneering Spirit\nHitachi delivers innovations that answer\nsociety's challenges. With our talented\nteam and proven experience in global\nmarkets, we can inspire the world.\n1960\n1970\n1980\nFive-horsepower\ninduction motor\nUrban infrastructure\ndevelopment\nEpisode 1\nIn 1910, Namihei Odaira founded\nHitachi, Ltd. with the aspiration of\ncontributing to society through the\ndevelopment of machine industry\nin Japan by manufacturing electric\nHitachi Founder\nSogyo Koya\nmachines on his own.\nNamihei Odaira\n(Hitachi's first factory)\nHitachi has developed and provided numerous products while enhancing its\ntechnological capabilities by strengthening testing and research, and the founder's\naspiration to contribute to society has been steadfastly inherited by Hitachi employees.\nProduction of trains for the\nTokaido Shinkansen\nEpisode 2\nContribution to reconstruction\nafter the Great Kanto Earthquake\nIn 1923, the Great Kanto Earthquake wrought unprecedented damage\nacross the Tokyo metropolitan area. Although Hitachi's Kameido\nWorks was partially destroyed, Namihei Odaira indicated \"our top\npriority is reconstruction of the Keihin area, the head of Japan.\" Every\neffort was made to rebuild infrastructure by increasing the production\nand supply of products necessary for the restoration of power supply\ninfrastructure in the Tokyo metropolitan area. The name Hitachi\nbecame widely known throughout Japan for its technological prowess\nin transformer equipment and transformers.\nLaunch of operations\nat the Shimane Nuclear\nPower Station\nDevelopment and supply of\nlarge-scale computers\nEpisode 3\nDevelopment and supply of\nlarge-scale computers\nIn the late 1950s, Hitachi participated in the development of the MARS-1\nseat reservation system for Japan National Railways (now JR Group).\nThe objective was to systematize seat reservations, which at the time\nwere done manually, enhancing convenience for users. However,\ndevelopment involved a variety of hardships. In 1959, we completed the\ncomputer that would become the central processor for this system, and\nin 1960, we succeeded in developing terminals for installation in stations.\nThe seat reservation system for limited express trains was launched\nthroughout Japan and has continued to evolve to the present day.\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\nGlobal Business Overview\n5\n1990\n2000\nDevelopment of virtual\nstorage technology\nDelivered high-speed\ntrain to the\nUnited Kingdom\n2010\nEpisode 4\nProvision of intercity express\ntrains to the United Kingdom,\nbirthplace of the railroad\nIn 2009, Hitachi became the first Japanese manufacturer to provide\nrolling stocks to the United Kingdom with the delivery of 174 train cars\n(Class 395), which commenced commercial operations that same year.\nIn 2017, 866 train cars (Class 800) were delivered and commenced\ncommercial operations on intercity express trains connecting London\nwith destinations in northern and western UK. In 2021, Hitachi received\nan order for the design, build and maintenance of next-generation\nhigh-speed rail in the UK. This serves as a testament to the more than\n20 years Hitachi has spent building its brand in the UK.\n2020\nSocial Innovation Business\nDeveloping more advanced social\ninfrastructures by combining\nexpertise in OT, IT, and products\nÖ-LUMADA\nPerformance\nBillion yen)\n12,000\n9,000\n600",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_key_financials",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 10264.6bn, adjusted operating income: 738.2bn, net income: 583.4bn, operating cash flows: approx 2100bn",
      "golden_context": "Page 7:\n\n\n3. Promoted globalization\n• Relocated the railway systems business headquarters\n• Introduced Global Performance Management aimed\nat enhancing the use of global human capital\nMid-term Management Plan 2021 (FY2019-2021)\nRealized Social Innovations with Digitalization, Built a Platform for Global Growth\n(billion yen)\nChallenges\n• Business growth through expansion of\nco-creation with Lumada as a core\n• Completing business portfolio revisions\n• Improving capital efficiency\nMid-term Management\nPlan 2021 targets\n(as announced in April 2021)\nFiscal 2021\nresults\nRevenue\n9,500.0\n10,264.6\nPerformance targets and results\nAlthough targets at the start of fiscal\n2019 were revised due to the COVID-19\npandemic in 2020, revenue expanded,\nprofitability was maintained and operating\ncash flows were generated, and net income\nattributable to Hitachi, Ltd. stockholders\nreached an all-time high.\nAdjusted operating\nincome/ratio\n740.0 / 7.8%\n738.2 / 7.2%\nNet income attributable to\nHitachi, Ltd. stockholders\n550.0\n583.4\nOperating cash flows\n(FY2019-2021 cumulative total)\nOver 2,100\nApprox. 2,100\nROIC\n8.3%\n7.7%\nAchievements\n1. Launched the digital business platform and achieved growth\n• Launched the Lumada Solution Hub and Lumada\nAlliance Program\n• Expanded Lumada business revenue from 1.1 trillion\nyen to 1.6 trillion yen\n2. Enhanced efforts toward digital and environmental growth\n• 2019: Acquired JR Automation\n• 2020: Made Hitachi High-Tech a wholly owned\nsubsidiary Established Hitachi ABB Power\nGrids (now Hitachi Energy)\n• 2021: Established Hitachi Astemo\nAcquired GlobalLogic\nTransferred the diagnostic imaging-related business\nParticipated in COP26 as a principal partner\nMid-term Management Plan 2018 (FY2016-2018)\nStrengthened the Social Innovation Business Leveraging Digital Technologies\nChallenges\n• Speeding up management to rapidly respond to changes in market environments\n• Launching a platform for digital growth\n• Addressing low-profit businesses to improve profitability\nAchievements\n1. Transitioned away from a product-based company\n4. Executed ongoing business reviews\nsystem to a three-level structure comprising\n• Divestiture and deconsolidation of listed\nfrontline, platform, and product tiers\nsubsidiaries\n• Accelerated decision-making with the introduction\nDivestiture of Hitachi Koki and Clarion\nof a business unit system\nSold a part of shares in Hitachi Transport\n2. Strengthened the global frontline\nSystem, Hitachi Capital, and Hitachi Kokusai\n• Bolstered global frontline operations through\nElectric\nacquisitions (Ansaldo STS, Sullair)\n• Reduced/Withdrew from low-profit businesses\n3. Expanded the digital solutions business with Lumada\nsuch as the information and telecommunications\n• Launched Lumada\nequipment business and the overseas EPC\n• Established Hitachi Vantara to deliver digital solutions\nbusiness\n• Lumada business revenue grew to 1 trillion yen\n3. Reinforced and improved the business foundation\nby resolving management issues\n• Made progress in reviewing the capital policies\nof listed subsidiaries\n• Divestiture of Hitachi Chemical and Hitachi Metals*\n• Sale of a part of shares in Hitachi Construction\nMachinery and Hitachi Transport System*\n• Responded to management issues\n• Settled with Mitsubishi Heavy Industries on\nSouth Africa projects\n• Withdrew business operations on the UK nuclear\npower stations construction project\n• Promoted diversity, increased digital talent, and\nenhanced risk management\n*Scheduled for completion during fiscal 2022\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n7\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nPromoting Sustainable Management\n2019\nCommenced operation of the\nHitachi Internal Carbon Pricing\n(HICP) system\n2020\nSet the target of achieving\ncarbon neutrality at Hitachi business sites\nby fiscal 2030\n2018\nAnnounced endorsement of Task Force on Climate-related\nFinancial Disclosures (TCFD) recommendations\nEnvironment\n2016\nFormulated Hitachi Environmental\nInnovation 2050\nSocial\nЯ\n2021\nSet the target of achieving\ncarbon neutrality throughout the\nentire value chain by fiscal 2050\n2022\nSet the target of contributing to COz emission reductions\nthrough business (100 million metric tons in fiscal 2024)\nGovernance\n2013\nFormulated Hitachi Group\nHuman Rights Policy, Launched\n2019\nHuman Rights Due Diligence (HRDD) initiative\n• Instituted the Hitachi Group\n2011\nGlobal Procurement Code,\nIntroduced global\nEnhanced digital talent\nHR management\n2003\nShifted to a company with\ncommittees\n(currently a company with a\nnominating committee, etc.)\n2016\nPromoted workstyle\nreforms\n2017\nSet diversity\ntargets\n2021\nSet Diversity,\nEquity and Inclusion\n(DEI) targets\nRatio of female and non-Japanese executive\nand corporate officers\nFY2024: 15% each FY2030: 30% each\n2010\nEnhancement of interactions with Capital Markets\nHitachi IR Day was launched\n2012\nIncreased number\n2016\nof independent\ndirectors, including\nnon-Japanese\ndirectors\n2000\n2010\nEnhanced dissemination\nof information about\nmedium- to long-term\nsustainable growth\n2020\n2021\nIntroduced evaluation system\nthat considers environmental value\ninto short-term incentive compensation for executive officers\n2030\n2050\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\n8\nGlobal Business Overview\nBusiness of the Hitachi Group\nIn April 2022, Hitachi formulated the Mid-term Management Plan 2024 targeting further global advances and growth in the Social Innovation Business based on three pillars of growth: digital, green and innovation.\nTo increase management efficiency and speed, we simplified our structure, grouping together businesses with similar characteristics organized into three sectors: Digital Systems & Services (DSS), Green Energy\n& Mobility (GEM) and Connective Industries (CI). Together with customers, we will resolve social issues leveraging a business structure that includes the Automotive Systems Business (Hitachi Astemo).\n• Digital Systems & Services\nMain products and services\nO Front Business: IT and digital systems in mission-critical fields\nsuch as financial institutions, public offices, municipalities and\nsocial infrastructure\n• IT Services: DX solutions and services\n© Services & Platforms: Designs, digital engineering, data\nanalytics, cloud services and IT products\nOthers\n4%\nHitachi Metals\n9%\nHitachi Construction\nMachinery\n9%\nAutomotive\nSystems Business\n15%\nConnective Industries\nDigital Systems &\nServices\n20%\nRevenue\n10,264.6\nbillion yen\n(FY2021)\nMain products and services\n© Urban Group: Elevators, escalators and building services,\nhome appliances, air-conditioning systems\n© Advanced Technologies Group: Healthcare (clinical chemistry\nand immunochemistry analyzers, automated cell culture\nequipment, particle therapy system, etc.), measurement and\nanalysis (semiconductor metrology/inspection equipment,\nelectron microscopes, etc.)\n© Industry Group: Industry & distribution solutions, robotics\nSI, water supply and sewage, utilities solutions, industrial\nequipment\nGreen Energy & Mobility\nMain products and services\n• Energy solutions (power grids, nuclear, renewable and\ndistributed power sources)\n© Railway systems (rolling stock, signals, controls, services\nand maintenance, smart mobility, turnkey)\nSource: Aibel\nGreen Energy &\nMobility\nConnective Industries\n18%\n25%\nOthers\n3%\nHitachi Metals\nDigital Systems &\n4%\nServices\nHitachi Construction\nMachinery\n33%\n12%\nAdjusted EBITA\nAutomotive\nSystems Business\n855.3\n7%\nbillion yen\nGreen Energy &\nConnective\n(FY2021)\nIndustries\nMobility\n11%\n30%\nNotes:\n1 Figures based on new segment classifications applied from fiscal 2022 onward.\n2 Hitachi Construction Machinery was deconsolidated on August 23, 2022. Hitachi Metals is\nscheduled to be removed from the scope of consolidation in March 2023.\n3 Adjusted EBITA = Adjusted operating income - acquisition-related amortization + equity in\nearnings (losses) of affiliates\nAutomotive Systems Business\nMain products and services\n© Powertrains, chassis, advanced driver assistance, motorcycle\nsystems\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nGlobal Business OvervieW (As of March 31, 2022)\nOverseas revenues account for 59% of total revenues for Hitachi.\nBy combining Lumada with global business portfolios built up in each region and business, Hitachi will further accelerate its global rollout\nand expand the value created and realized through the Social Innovation Business on a global scale.\n• Digital Systems & Services\n• Green Energy & Mobility\n• Connective Industries\n• Automotive Systems Business\n| Others (Including Hitachi Construction Machinery, Hitachi Metals)\nChina\nNumber of\nemployees\nApprox. 51,000\nNumber of\nsubsidiaries\n136\nPower\nGrids BU\nRevenues\n1,331.6\nbillion yen\nComponent ratio\n13%\nBuilding\nSystems BU\nHitachi High-Tech\nJapan\nNumber of\nemployees\nApprox. 157,000\nBuilding\nSystems BU\nRevenues\n4,187.0\nbillion yen\nComponent ratio\n41%\nHitachi\nGlobal Life\nSolutions\n9\nNumber of\nsubsidiaries\n158\n& Energy BI\nIndustry Group\nNorth America\nNumber of\nemployees\nApprox. 28,000\nNumber of\nsubsidiaries\n97\nRevenues\n1,555.1\nbillion yen\nComponent ratio\n15%\nPower\nGrids BU\nRailway\nSystems BU\nIndustry Group\nHitachi High-Tech\nOther areas\nNumber of employees\nApprox. 20,000\nHitachi High-Tech\nNumber of subsidiaries\nRevenues\n115\n708.1 billion yen\nEurope\nNumber of\nemployees\nApprox. 43,000\nRevenues\n1,299.4\nbillion yen\nComponent ratio\n13%\nNumber of\nsubsidiaries\n148\nPower\nGrids BU\nRailway\nSystems BÚ\nASEAN, India, and other areas\nNumber of\nNumber of\nemployees\nsubsidiaries\nApprox. 70,000\n200\nRevenues\n1,183.2\nbillion ven\nComponent ratio\n11%\nPower\nGrids BU\nRailway\nSystems BU\nHitachi High-Tech\n• 19 customer\nco-creation centers\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n10\nCFO Message\nCEO Message\nHitachi is Constantly Growing Thanks to\nOur Employees and Technology\nAccelerating Transformation Through\nMode Change for Growth\nHitachi is finishing up a decade-long structural reform and has begun moving towards\nsincere growth. I was determined when I became CEO in April 2022, during the launch of the\nMid-term Management Plan 2024, to take the baton and continue Hitachi's transformation,\nemphasizing the history and values assembled by Hitachi since its founding.\nWe will continue to build a Hitachi that is always changing thanks to our employees and\ntechnology while also reconfirming our DNA of transformation that has led us to continue\nrestructuring in accordance with social changes.\nPresident & CEO\nKeiji Kojima\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nCEO Message\nThe Story of Collaborative Value Creation with Stakeholders\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n11\nCFO Message\nI Reconfirmation of History and Values for the Next Decade\nSince its establishment in 1910, Hitachi has grown together with the development of society and the economy, operating under a foundational\nMission set by founder Namihei Odaira: \"Contribute to society through the development of superior, original technology and products.\" With this\nguiding principle, we have resolved issues facing society through the development of technologies and products that support social infrastructure.\nAs a student, I visited Hitachi's Central Research Laboratory in Tokyo for the first time. I remember being impressed that Hitachi appreciated\ntechnology above all else, which made me decide to begin my career with the company as a researcher. I was heavily involved in database\nresearch during that time and once again realized the company's unique attitude towards valued technology. Hitachi's culture of superior\nperformance and unparalleled functionality inspires me to never compromise. Hitachi has continued to grow while championing the ideas\npassed down from those who came before us. We proudly continue developing new technologies and pioneering services that support social\ninfrastructure —that is, enhancing people's lives.\nHitachi is also an organization that can cope with social changes and continuously transform without fear. Our vision of being a Social Innovation\nBusiness as promoted by previous CEOs enabled us to come out of the red following the global financial crisis. To avoid future financial issues,\nwe shifted back to the true DNA of Hitachi and continue to seek transformation and strategize to solve future social issues. Lumada is a great\nsymbol of this as it was launched in 2016 to offer solutions that deal with the shift towards digitalization in society that we are experiencing today.\nThe Lumada concept started when I was CTO in 2014, when it was predicted that the Internet of Things would be the next big social trend.\nWe created a business model framework that offers value by collaborating with customers and leveraging Hitachi's rich IT and OT (operational\ntechnologies) expertise and technologies. We called this system, inspired by the wisdom of Silicon Valley's cutting-edge people, \"Lumada.\" In\naddition to data analytics and the knowledge of Al specialists, we also incorporated cultural anthropology, experience design and a variety of\nther viewpoints to construct the concept of \"people (customers).\" Hitachi's Lumada was finally launched in 2016, not only as a system to rur\napplications or software on platforms but also as a framework for co-creation too. In addition to expanding the Social Innovation Business, Hitach\ntook on the challenge of making a major transformation over the past decade and growing the Lumada business since 2016.\nI believe there is a great resemblance between Hitachi and a tree that is constantly evolving. Hitachi's\nbiggest strength is its ability to grow and transform to continuously solve social issues. In order for\nthe tree to continue to grow without weakening, we must change our business, shedding light on\nHitachi's branches and leaves, similar to the strategy we followed over the past decade. We have gone\nthrough that pruning. What kind of fruit will this tree produce? What sort of buds will become part of the\nnew trunk? Instead of creating finite products that cannot be altered, Hitachi consistently co-creates\nsolutions alongside society to meet current needs and improve quality of life. Hitachi's legacy is defined\nby the fruit— or results— of that tree. I believe it is vital for this tree to change forms along the way and\nfor Hitachi to continue taking on new challenges.\n• Hitachi's Central Research\nLaboratory\nstablished as a priman\nesearch laboratory in 194\nThrough its establishment,\ncomprehensive basic research\non electron microscopes and\nmore was strengthened from the\nstudy of prior developments and\nimprovements directly linked to\nproducts and further progress\nwas made in developing new\nproducts.\n• Lumada\n> P.24\n• Experience Design\nDesigning around the user's\nexperience value (experience).\nHitachi's Design Thinking\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nThe Value Creation Process\nBusiness Strategies\nSustainability\nMid-term Management Plan 2024\nCorporate Governance\nHuman Resources Strategies\nData\nFinancial Strategies\n12\nCFO Message\nI The Mid-term Management Plan 2021 Has Ended and the Groundwork for Growth over the Last Decade is Complete\nThe emergence of COVID-19 greatly affected social and economic activity worldwide during the three years between fiscal 2019 and 2021 in\nthe Mid-term Management Plan 2021. Since the second half of 2021, there have been shortages of semiconductors and the costs of materials\nhave skyrocketed. In 2022, the prices of resources, including crude oil and natural gas, have kept increasing due to the Russia-Ukraine situation,\nwhich exposed us to new geopolitical risks.\nThe major social and economic changes caused by COVID-19 also affected Hitachi's management. Nonetheless, we were able to achieve\nan adjusted operating income ratio of 7.2% in fiscal 2021. Under these conditions, Hitachi has set the goal of achieving a sustain",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_revenue",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenue: 10264.6bn",
      "golden_context": "Page 7:\n\n\n3. Promoted globalization\n• Relocated the railway systems business headquarters\n• Introduced Global Performance Management aimed\nat enhancing the use of global human capital\nMid-term Management Plan 2021 (FY2019-2021)\nRealized Social Innovations with Digitalization, Built a Platform for Global Growth\n(billion yen)\nChallenges\n• Business growth through expansion of\nco-creation with Lumada as a core\n• Completing business portfolio revisions\n• Improving capital efficiency\nMid-term Management\nPlan 2021 targets\n(as announced in April 2021)\nFiscal 2021\nresults\nRevenue\n9,500.0\n10,264.6\nPerformance targets and results\nAlthough targets at the start of fiscal\n2019 were revised due to the COVID-19\npandemic in 2020, revenue expanded,\nprofitability was maintained and operating\ncash flows were generated, and net income\nattributable to Hitachi, Ltd. stockholders\nreached an all-time high.\nAdjusted operating\nincome/ratio\n740.0 / 7.8%\n738.2 / 7.2%\nNet income attributable to\nHitachi, Ltd. stockholders\n550.0\n583.4\nOperating cash flows\n(FY2019-2021 cumulative total)\nOver 2,100\nApprox. 2,100\nROIC\n8.3%\n7.7%\nAchievements\n1. Launched the digital business platform and achieved growth\n• Launched the Lumada Solution Hub and Lumada\nAlliance Program\n• Expanded Lumada business revenue from 1.1 trillion\nyen to 1.6 trillion yen\n2. Enhanced efforts toward digital and environmental growth\n• 2019: Acquired JR Automation\n• 2020: Made Hitachi High-Tech a wholly owned\nsubsidiary Established Hitachi ABB Power\nGrids (now Hitachi Energy)\n• 2021: Established Hitachi Astemo\nAcquired GlobalLogic\nTransferred the diagnostic imaging-related business\nParticipated in COP26 as a principal partner\nMid-term Management Plan 2018 (FY2016-2018)\nStrengthened the Social Innovation Business Leveraging Digital Technologies\nChallenges\n• Speeding up management to rapidly respond to changes in market environments\n• Launching a platform for digital growth\n• Addressing low-profit businesses to improve profitability\nAchievements\n1. Transitioned away from a product-based company\n4. Executed ongoing business reviews\nsystem to a three-level structure comprising\n• Divestiture and deconsolidation of listed\nfrontline, platform, and product tiers\nsubsidiaries\n• Accelerated decision-making with the introduction\nDivestiture of Hitachi Koki and Clarion\nof a business unit system\nSold a part of shares in Hitachi Transport\n2. Strengthened the global frontline\nSystem, Hitachi Capital, and Hitachi Kokusai\n• Bolstered global frontline operations through\nElectric\nacquisitions (Ansaldo STS, Sullair)\n• Reduced/Withdrew from low-profit businesses\n3. Expanded the digital solutions business with Lumada\nsuch as the information and telecommunications\n• Launched Lumada\nequipment business and the overseas EPC\n• Established Hitachi Vantara to deliver digital solutions\nbusiness\n• Lumada business revenue grew to 1 trillion yen\n3. Reinforced and improved the business foundation\nby resolving management issues\n• Made progress in reviewing the capital policies\nof listed subsidiaries\n• Divestiture of Hitachi Chemical and Hitachi Metals*\n• Sale of a part of shares in Hitachi Construction\nMachinery and Hitachi Transport System*\n• Responded to management issues\n• Settled with Mitsubishi Heavy Industries on\nSouth Africa projects\n• Withdrew business operations on the UK nuclear\npower stations construction project\n• Promoted diversity, increased digital talent, and\nenhanced risk management\n*Scheduled for completion during fiscal 2022\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n7\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nPromoting Sustainable Management\n2019\nCommenced operation of the\nHitachi Internal Carbon Pricing\n(HICP) system\n2020\nSet the target of achieving\ncarbon neutrality at Hitachi business sites\nby fiscal 2030\n2018\nAnnounced endorsement of Task Force on Climate-related\nFinancial Disclosures (TCFD) recommendations\nEnvironment\n2016\nFormulated Hitachi Environmental\nInnovation 2050\nSocial\nЯ\n2021\nSet the target of achieving\ncarbon neutrality throughout the\nentire value chain by fiscal 2050\n2022\nSet the target of contributing to COz emission reductions\nthrough business (100 million metric tons in fiscal 2024)\nGovernance\n2013\nFormulated Hitachi Group\nHuman Rights Policy, Launched\n2019\nHuman Rights Due Diligence (HRDD) initiative\n• Instituted the Hitachi Group\n2011\nGlobal Procurement Code,\nIntroduced global\nEnhanced digital talent\nHR management\n2003\nShifted to a company with\ncommittees\n(currently a company with a\nnominating committee, etc.)\n2016\nPromoted workstyle\nreforms\n2017\nSet diversity\ntargets\n2021\nSet Diversity,\nEquity and Inclusion\n(DEI) targets\nRatio of female and non-Japanese executive\nand corporate officers\nFY2024: 15% each FY2030: 30% each\n2010\nEnhancement of interactions with Capital Markets\nHitachi IR Day was launched\n2012\nIncreased number\n2016\nof independent\ndirectors, including\nnon-Japanese\ndirectors\n2000\n2010\nEnhanced dissemination\nof information about\nmedium- to long-term\nsustainable growth\n2020\n2021\nIntroduced evaluation system\nthat considers environmental value\ninto short-term incentive compensation for executive officers\n2030\n2050\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\n8\nGlobal Business Overview\nBusiness of the Hitachi Group\nIn April 2022, Hitachi formulated the Mid-term Management Plan 2024 targeting further global advances and growth in the Social Innovation Business based on three pillars of growth: digital, green and innovation.\nTo increase management efficiency and speed, we simplified our structure, grouping together businesses with similar characteristics organized into three sectors: Digital Systems & Services (DSS), Green Energy\n& Mobility (GEM) and Connective Industries (CI). Together with customers, we will resolve social issues leveraging a business structure that includes the Automotive Systems Business (Hitachi Astemo).\n• Digital Systems & Services\nMain products and services\nO Front Business: IT and digital systems in mission-critical fields\nsuch as financial institutions, public offices, municipalities and\nsocial infrastructure\n• IT Services: DX solutions and services\n© Services & Platforms: Designs, digital engineering, data\nanalytics, cloud services and IT products\nOthers\n4%\nHitachi Metals\n9%\nHitachi Construction\nMachinery\n9%\nAutomotive\nSystems Business\n15%\nConnective Industries\nDigital Systems &\nServices\n20%\nRevenue\n10,264.6\nbillion yen\n(FY2021)\nMain products and services\n© Urban Group: Elevators, escalators and building services,\nhome appliances, air-conditioning systems\n© Advanced Technologies Group: Healthcare (clinical chemistry\nand immunochemistry analyzers, automated cell culture\nequipment, particle therapy system, etc.), measurement and\nanalysis (semiconductor metrology/inspection equipment,\nelectron microscopes, etc.)\n© Industry Group: Industry & distribution solutions, robotics\nSI, water supply and sewage, utilities solutions, industrial\nequipment\nGreen Energy & Mobility\nMain products and services\n• Energy solutions (power grids, nuclear, renewable and\ndistributed power sources)\n© Railway systems (rolling stock, signals, controls, services\nand maintenance, smart mobility, turnkey)\nSource: Aibel\nGreen Energy &\nMobility\nConnective Industries\n18%\n25%\nOthers\n3%\nHitachi Metals\nDigital Systems &\n4%\nServices\nHitachi Construction\nMachinery\n33%\n12%\nAdjusted EBITA\nAutomotive\nSystems Business\n855.3\n7%\nbillion yen\nGreen Energy &\nConnective\n(FY2021)\nIndustries\nMobility\n11%\n30%\nNotes:\n1 Figures based on new segment classifications applied from fiscal 2022 onward.\n2 Hitachi Construction Machinery was deconsolidated on August 23, 2022. Hitachi Metals is\nscheduled to be removed from the scope of consolidation in March 2023.\n3 Adjusted EBITA = Adjusted operating income - acquisition-related amortization + equity in\nearnings (losses) of affiliates\nAutomotive Systems Business\nMain products and services\n© Powertrains, chassis, advanced driver assistance, motorcycle\nsystems\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nGlobal Business OvervieW (As of March 31, 2022)\nOverseas revenues account for 59% of total revenues for Hitachi.\nBy combining Lumada with global business portfolios built up in each region and business, Hitachi will further accelerate its global rollout\nand expand the value created and realized through the Social Innovation Business on a global scale.\n• Digital Systems & Services\n• Green Energy & Mobility\n• Connective Industries\n• Automotive Systems Business\n| Others (Including Hitachi Construction Machinery, Hitachi Metals)\nChina\nNumber of\nemployees\nApprox. 51,000\nNumber of\nsubsidiaries\n136\nPower\nGrids BU\nRevenues\n1,331.6\nbillion yen\nComponent ratio\n13%\nBuilding\nSystems BU\nHitachi High-Tech\nJapan\nNumber of\nemployees\nApprox. 157,000\nBuilding\nSystems BU\nRevenues\n4,187.0\nbillion yen\nComponent ratio\n41%\nHitachi\nGlobal Life\nSolutions\n9\nNumber of\nsubsidiaries\n158\n& Energy BI\nIndustry Group\nNorth America\nNumber of\nemployees\nApprox. 28,000\nNumber of\nsubsidiaries\n97\nRevenues\n1,555.1\nbillion yen\nComponent ratio\n15%\nPower\nGrids BU\nRailway\nSystems BU\nIndustry Group\nHitachi High-Tech\nOther areas\nNumber of employees\nApprox. 20,000\nHitachi High-Tech\nNumber of subsidiaries\nRevenues\n115\n708.1 billion yen\nEurope\nNumber of\nemployees\nApprox. 43,000\nRevenues\n1,299.4\nbillion yen\nComponent ratio\n13%\nNumber of\nsubsidiaries\n148\nPower\nGrids BU\nRailway\nSystems BÚ\nASEAN, India, and other areas\nNumber of\nNumber of\nemployees\nsubsidiaries\nApprox. 70,000\n200\nRevenues\n1,183.2\nbillion ven\nComponent ratio\n11%\nPower\nGrids BU\nRailway\nSystems BU\nHitachi High-Tech\n• 19 customer\nco-creation centers\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n10\nCFO Message\nCEO Message\nHitachi is Constantly Growing Thanks to\nOur Employees and Technology\nAccelerating Transformation Through\nMode Change for Growth\nHitachi is finishing up a decade-long structural reform and has begun moving towards\nsincere growth. I was determined when I became CEO in April 2022, during the launch of the\nMid-term Management Plan 2024, to take the baton and continue Hitachi's transformation,\nemphasizing the history and values assembled by Hitachi since its founding.\nWe will continue to build a Hitachi that is always changing thanks to our employees and\ntechnology while also reconfirming our DNA of transformation that has led us to continue\nrestructuring in accordance with social changes.\nPresident & CEO\nKeiji Kojima\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nCEO Message\nThe Story of Collaborative Value Creation with Stakeholders\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n11\nCFO Message\nI Reconfirmation of History and Values for the Next Decade\nSince its establishment in 1910, Hitachi has grown together with the development of society and the economy, operating under a foundational\nMission set by founder Namihei Odaira: \"Contribute to society through the development of superior, original technology and products.\" With this\nguiding principle, we have resolved issues facing society through the development of technologies and products that support social infrastructure.\nAs a student, I visited Hitachi's Central Research Laboratory in Tokyo for the first time. I remember being impressed that Hitachi appreciated\ntechnology above all else, which made me decide to begin my career with the company as a researcher. I was heavily involved in database\nresearch during that time and once again realized the company's unique attitude towards valued technology. Hitachi's culture of superior\nperformance and unparalleled functionality inspires me to never compromise. Hitachi has continued to grow while championing the ideas\npassed down from those who came before us. We proudly continue developing new technologies and pioneering services that support social\ninfrastructure —that is, enhancing people's lives.\nHitachi is also an organization that can cope with social changes and continuously transform without fear. Our vision of being a Social Innovation\nBusiness as promoted by previous CEOs enabled us to come out of the red following the global financial crisis. To avoid future financial issues,\nwe shifted back to the true DNA of Hitachi and continue to seek transformation and strategize to solve future social issues. Lumada is a great\nsymbol of this as it was launched in 2016 to offer solutions that deal with the shift towards digitalization in society that we are experiencing today.\nThe Lumada concept started when I was CTO in 2014, when it was predicted that the Internet of Things would be the next big social trend.\nWe created a business model framework that offers value by collaborating with customers and leveraging Hitachi's rich IT and OT (operational\ntechnologies) expertise and technologies. We called this system, inspired by the wisdom of Silicon Valley's cutting-edge people, \"Lumada.\" In\naddition to data analytics and the knowledge of Al specialists, we also incorporated cultural anthropology, experience design and a variety of\nther viewpoints to construct the concept of \"people (customers).\" Hitachi's Lumada was finally launched in 2016, not only as a system to rur\napplications or software on platforms but also as a framework for co-creation too. In addition to expanding the Social Innovation Business, Hitach\ntook on the challenge of making a major transformation over the past decade and growing the Lumada business since 2016.\nI believe there is a great resemblance between Hitachi and a tree that is constantly evolving. Hitachi's\nbiggest strength is its ability to grow and transform to continuously solve social issues. In order for\nthe tree to continue to grow without weakening, we must change our business, shedding light on\nHitachi's branches and leaves, similar to the strategy we followed over the past decade. We have gone\nthrough that pruning. What kind of fruit will this tree produce? What sort of buds will become part of the\nnew trunk? Instead of creating finite products that cannot be altered, Hitachi consistently co-creates\nsolutions alongside society to meet current needs and improve quality of life. Hitachi's legacy is defined\nby the fruit— or results— of that tree. I believe it is vital for this tree to change forms along the way and\nfor Hitachi to continue taking on new challenges.\n• Hitachi's Central Research\nLaboratory\nstablished as a priman\nesearch laboratory in 194\nThrough its establishment,\ncomprehensive basic research\non electron microscopes and\nmore was strengthened from the\nstudy of prior developments and\nimprovements directly linked to\nproducts and further progress\nwas made in developing new\nproducts.\n• Lumada\n> P.24\n• Experience Design\nDesigning around the user's\nexperience value (experience).\nHitachi's Design Thinking\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nThe Value Creation Process\nBusiness Strategies\nSustainability\nMid-term Management Plan 2024\nCorporate Governance\nHuman Resources Strategies\nData\nFinancial Strategies\n12\nCFO Message\nI The Mid-term Management Plan 2021 Has Ended and the Groundwork for Growth over the Last Decade is Complete\nThe emergence of COVID-19 greatly affected social and economic activity worldwide during the three years between fiscal 2019 and 2021 in\nthe Mid-term Management Plan 2021. Since the second half of 2021, there have been shortages of semiconductors and the costs of materials\nhave skyrocketed. In 2022, the prices of resources, including crude oil and natural gas, have kept increasing due to the Russia-Ukraine situation,\nwhich exposed us to new geopolitical risks.\nThe major social and economic changes caused by COVID-19 also affected Hitachi's management. Nonetheless, we were able to achieve\nan adjusted operating income ratio of 7.2% in fiscal 2021. Under these conditions, Hitachi has set the goal of achieving a sustain",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_revenue_growth",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 10264.6bn, prior year: 9500bn",
      "golden_context": "Page 7:\n\n\n3. Promoted globalization\n• Relocated the railway systems business headquarters\n• Introduced Global Performance Management aimed\nat enhancing the use of global human capital\nMid-term Management Plan 2021 (FY2019-2021)\nRealized Social Innovations with Digitalization, Built a Platform for Global Growth\n(billion yen)\nChallenges\n• Business growth through expansion of\nco-creation with Lumada as a core\n• Completing business portfolio revisions\n• Improving capital efficiency\nMid-term Management\nPlan 2021 targets\n(as announced in April 2021)\nFiscal 2021\nresults\nRevenue\n9,500.0\n10,264.6\nPerformance targets and results\nAlthough targets at the start of fiscal\n2019 were revised due to the COVID-19\npandemic in 2020, revenue expanded,\nprofitability was maintained and operating\ncash flows were generated, and net income\nattributable to Hitachi, Ltd. stockholders\nreached an all-time high.\nAdjusted operating\nincome/ratio\n740.0 / 7.8%\n738.2 / 7.2%\nNet income attributable to\nHitachi, Ltd. stockholders\n550.0\n583.4\nOperating cash flows\n(FY2019-2021 cumulative total)\nOver 2,100\nApprox. 2,100\nROIC\n8.3%\n7.7%\nAchievements\n1. Launched the digital business platform and achieved growth\n• Launched the Lumada Solution Hub and Lumada\nAlliance Program\n• Expanded Lumada business revenue from 1.1 trillion\nyen to 1.6 trillion yen\n2. Enhanced efforts toward digital and environmental growth\n• 2019: Acquired JR Automation\n• 2020: Made Hitachi High-Tech a wholly owned\nsubsidiary Established Hitachi ABB Power\nGrids (now Hitachi Energy)\n• 2021: Established Hitachi Astemo\nAcquired GlobalLogic\nTransferred the diagnostic imaging-related business\nParticipated in COP26 as a principal partner\nMid-term Management Plan 2018 (FY2016-2018)\nStrengthened the Social Innovation Business Leveraging Digital Technologies\nChallenges\n• Speeding up management to rapidly respond to changes in market environments\n• Launching a platform for digital growth\n• Addressing low-profit businesses to improve profitability\nAchievements\n1. Transitioned away from a product-based company\n4. Executed ongoing business reviews\nsystem to a three-level structure comprising\n• Divestiture and deconsolidation of listed\nfrontline, platform, and product tiers\nsubsidiaries\n• Accelerated decision-making with the introduction\nDivestiture of Hitachi Koki and Clarion\nof a business unit system\nSold a part of shares in Hitachi Transport\n2. Strengthened the global frontline\nSystem, Hitachi Capital, and Hitachi Kokusai\n• Bolstered global frontline operations through\nElectric\nacquisitions (Ansaldo STS, Sullair)\n• Reduced/Withdrew from low-profit businesses\n3. Expanded the digital solutions business with Lumada\nsuch as the information and telecommunications\n• Launched Lumada\nequipment business and the overseas EPC\n• Established Hitachi Vantara to deliver digital solutions\nbusiness\n• Lumada business revenue grew to 1 trillion yen\n3. Reinforced and improved the business foundation\nby resolving management issues\n• Made progress in reviewing the capital policies\nof listed subsidiaries\n• Divestiture of Hitachi Chemical and Hitachi Metals*\n• Sale of a part of shares in Hitachi Construction\nMachinery and Hitachi Transport System*\n• Responded to management issues\n• Settled with Mitsubishi Heavy Industries on\nSouth Africa projects\n• Withdrew business operations on the UK nuclear\npower stations construction project\n• Promoted diversity, increased digital talent, and\nenhanced risk management\n*Scheduled for completion during fiscal 2022\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n7\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nPromoting Sustainable Management\n2019\nCommenced operation of the\nHitachi Internal Carbon Pricing\n(HICP) system\n2020\nSet the target of achieving\ncarbon neutrality at Hitachi business sites\nby fiscal 2030\n2018\nAnnounced endorsement of Task Force on Climate-related\nFinancial Disclosures (TCFD) recommendations\nEnvironment\n2016\nFormulated Hitachi Environmental\nInnovation 2050\nSocial\nЯ\n2021\nSet the target of achieving\ncarbon neutrality throughout the\nentire value chain by fiscal 2050\n2022\nSet the target of contributing to COz emission reductions\nthrough business (100 million metric tons in fiscal 2024)\nGovernance\n2013\nFormulated Hitachi Group\nHuman Rights Policy, Launched\n2019\nHuman Rights Due Diligence (HRDD) initiative\n• Instituted the Hitachi Group\n2011\nGlobal Procurement Code,\nIntroduced global\nEnhanced digital talent\nHR management\n2003\nShifted to a company with\ncommittees\n(currently a company with a\nnominating committee, etc.)\n2016\nPromoted workstyle\nreforms\n2017\nSet diversity\ntargets\n2021\nSet Diversity,\nEquity and Inclusion\n(DEI) targets\nRatio of female and non-Japanese executive\nand corporate officers\nFY2024: 15% each FY2030: 30% each\n2010\nEnhancement of interactions with Capital Markets\nHitachi IR Day was launched\n2012\nIncreased number\n2016\nof independent\ndirectors, including\nnon-Japanese\ndirectors\n2000\n2010\nEnhanced dissemination\nof information about\nmedium- to long-term\nsustainable growth\n2020\n2021\nIntroduced evaluation system\nthat considers environmental value\ninto short-term incentive compensation for executive officers\n2030\n2050\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nSustainability\nCorporate Governance\nData\n8\nGlobal Business Overview\nBusiness of the Hitachi Group\nIn April 2022, Hitachi formulated the Mid-term Management Plan 2024 targeting further global advances and growth in the Social Innovation Business based on three pillars of growth: digital, green and innovation.\nTo increase management efficiency and speed, we simplified our structure, grouping together businesses with similar characteristics organized into three sectors: Digital Systems & Services (DSS), Green Energy\n& Mobility (GEM) and Connective Industries (CI). Together with customers, we will resolve social issues leveraging a business structure that includes the Automotive Systems Business (Hitachi Astemo).\n• Digital Systems & Services\nMain products and services\nO Front Business: IT and digital systems in mission-critical fields\nsuch as financial institutions, public offices, municipalities and\nsocial infrastructure\n• IT Services: DX solutions and services\n© Services & Platforms: Designs, digital engineering, data\nanalytics, cloud services and IT products\nOthers\n4%\nHitachi Metals\n9%\nHitachi Construction\nMachinery\n9%\nAutomotive\nSystems Business\n15%\nConnective Industries\nDigital Systems &\nServices\n20%\nRevenue\n10,264.6\nbillion yen\n(FY2021)\nMain products and services\n© Urban Group: Elevators, escalators and building services,\nhome appliances, air-conditioning systems\n© Advanced Technologies Group: Healthcare (clinical chemistry\nand immunochemistry analyzers, automated cell culture\nequipment, particle therapy system, etc.), measurement and\nanalysis (semiconductor metrology/inspection equipment,\nelectron microscopes, etc.)\n© Industry Group: Industry & distribution solutions, robotics\nSI, water supply and sewage, utilities solutions, industrial\nequipment\nGreen Energy & Mobility\nMain products and services\n• Energy solutions (power grids, nuclear, renewable and\ndistributed power sources)\n© Railway systems (rolling stock, signals, controls, services\nand maintenance, smart mobility, turnkey)\nSource: Aibel\nGreen Energy &\nMobility\nConnective Industries\n18%\n25%\nOthers\n3%\nHitachi Metals\nDigital Systems &\n4%\nServices\nHitachi Construction\nMachinery\n33%\n12%\nAdjusted EBITA\nAutomotive\nSystems Business\n855.3\n7%\nbillion yen\nGreen Energy &\nConnective\n(FY2021)\nIndustries\nMobility\n11%\n30%\nNotes:\n1 Figures based on new segment classifications applied from fiscal 2022 onward.\n2 Hitachi Construction Machinery was deconsolidated on August 23, 2022. Hitachi Metals is\nscheduled to be removed from the scope of consolidation in March 2023.\n3 Adjusted EBITA = Adjusted operating income - acquisition-related amortization + equity in\nearnings (losses) of affiliates\nAutomotive Systems Business\nMain products and services\n© Powertrains, chassis, advanced driver assistance, motorcycle\nsystems\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nData\nHistory of Hitachi\nLooking Back on Past Mid-term Management Plans\nPromoting Sustainable Management\nBusiness of the Hitachi Group\nGlobal Business Overview\nGlobal Business OvervieW (As of March 31, 2022)\nOverseas revenues account for 59% of total revenues for Hitachi.\nBy combining Lumada with global business portfolios built up in each region and business, Hitachi will further accelerate its global rollout\nand expand the value created and realized through the Social Innovation Business on a global scale.\n• Digital Systems & Services\n• Green Energy & Mobility\n• Connective Industries\n• Automotive Systems Business\n| Others (Including Hitachi Construction Machinery, Hitachi Metals)\nChina\nNumber of\nemployees\nApprox. 51,000\nNumber of\nsubsidiaries\n136\nPower\nGrids BU\nRevenues\n1,331.6\nbillion yen\nComponent ratio\n13%\nBuilding\nSystems BU\nHitachi High-Tech\nJapan\nNumber of\nemployees\nApprox. 157,000\nBuilding\nSystems BU\nRevenues\n4,187.0\nbillion yen\nComponent ratio\n41%\nHitachi\nGlobal Life\nSolutions\n9\nNumber of\nsubsidiaries\n158\n& Energy BI\nIndustry Group\nNorth America\nNumber of\nemployees\nApprox. 28,000\nNumber of\nsubsidiaries\n97\nRevenues\n1,555.1\nbillion yen\nComponent ratio\n15%\nPower\nGrids BU\nRailway\nSystems BU\nIndustry Group\nHitachi High-Tech\nOther areas\nNumber of employees\nApprox. 20,000\nHitachi High-Tech\nNumber of subsidiaries\nRevenues\n115\n708.1 billion yen\nEurope\nNumber of\nemployees\nApprox. 43,000\nRevenues\n1,299.4\nbillion yen\nComponent ratio\n13%\nNumber of\nsubsidiaries\n148\nPower\nGrids BU\nRailway\nSystems BÚ\nASEAN, India, and other areas\nNumber of\nNumber of\nemployees\nsubsidiaries\nApprox. 70,000\n200\nRevenues\n1,183.2\nbillion ven\nComponent ratio\n11%\nPower\nGrids BU\nRailway\nSystems BU\nHitachi High-Tech\n• 19 customer\nco-creation centers\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n10\nCFO Message\nCEO Message\nHitachi is Constantly Growing Thanks to\nOur Employees and Technology\nAccelerating Transformation Through\nMode Change for Growth\nHitachi is finishing up a decade-long structural reform and has begun moving towards\nsincere growth. I was determined when I became CEO in April 2022, during the launch of the\nMid-term Management Plan 2024, to take the baton and continue Hitachi's transformation,\nemphasizing the history and values assembled by Hitachi since its founding.\nWe will continue to build a Hitachi that is always changing thanks to our employees and\ntechnology while also reconfirming our DNA of transformation that has led us to continue\nrestructuring in accordance with social changes.\nPresident & CEO\nKeiji Kojima\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nCEO Message\nThe Story of Collaborative Value Creation with Stakeholders\nMateriality\nValue Creation\nBusiness Strategies\nSustainability\nCorporate Governance\nThe Value Creation Process\nMid-term Management Plan 2024\nHuman Resources Strategies\nData\nFinancial Strategies\n11\nCFO Message\nI Reconfirmation of History and Values for the Next Decade\nSince its establishment in 1910, Hitachi has grown together with the development of society and the economy, operating under a foundational\nMission set by founder Namihei Odaira: \"Contribute to society through the development of superior, original technology and products.\" With this\nguiding principle, we have resolved issues facing society through the development of technologies and products that support social infrastructure.\nAs a student, I visited Hitachi's Central Research Laboratory in Tokyo for the first time. I remember being impressed that Hitachi appreciated\ntechnology above all else, which made me decide to begin my career with the company as a researcher. I was heavily involved in database\nresearch during that time and once again realized the company's unique attitude towards valued technology. Hitachi's culture of superior\nperformance and unparalleled functionality inspires me to never compromise. Hitachi has continued to grow while championing the ideas\npassed down from those who came before us. We proudly continue developing new technologies and pioneering services that support social\ninfrastructure —that is, enhancing people's lives.\nHitachi is also an organization that can cope with social changes and continuously transform without fear. Our vision of being a Social Innovation\nBusiness as promoted by previous CEOs enabled us to come out of the red following the global financial crisis. To avoid future financial issues,\nwe shifted back to the true DNA of Hitachi and continue to seek transformation and strategize to solve future social issues. Lumada is a great\nsymbol of this as it was launched in 2016 to offer solutions that deal with the shift towards digitalization in society that we are experiencing today.\nThe Lumada concept started when I was CTO in 2014, when it was predicted that the Internet of Things would be the next big social trend.\nWe created a business model framework that offers value by collaborating with customers and leveraging Hitachi's rich IT and OT (operational\ntechnologies) expertise and technologies. We called this system, inspired by the wisdom of Silicon Valley's cutting-edge people, \"Lumada.\" In\naddition to data analytics and the knowledge of Al specialists, we also incorporated cultural anthropology, experience design and a variety of\nther viewpoints to construct the concept of \"people (customers).\" Hitachi's Lumada was finally launched in 2016, not only as a system to rur\napplications or software on platforms but also as a framework for co-creation too. In addition to expanding the Social Innovation Business, Hitach\ntook on the challenge of making a major transformation over the past decade and growing the Lumada business since 2016.\nI believe there is a great resemblance between Hitachi and a tree that is constantly evolving. Hitachi's\nbiggest strength is its ability to grow and transform to continuously solve social issues. In order for\nthe tree to continue to grow without weakening, we must change our business, shedding light on\nHitachi's branches and leaves, similar to the strategy we followed over the past decade. We have gone\nthrough that pruning. What kind of fruit will this tree produce? What sort of buds will become part of the\nnew trunk? Instead of creating finite products that cannot be altered, Hitachi consistently co-creates\nsolutions alongside society to meet current needs and improve quality of life. Hitachi's legacy is defined\nby the fruit— or results— of that tree. I believe it is vital for this tree to change forms along the way and\nfor Hitachi to continue taking on new challenges.\n• Hitachi's Central Research\nLaboratory\nstablished as a priman\nesearch laboratory in 194\nThrough its establishment,\ncomprehensive basic research\non electron microscopes and\nmore was strengthened from the\nstudy of prior developments and\nimprovements directly linked to\nproducts and further progress\nwas made in developing new\nproducts.\n• Lumada\n> P.24\n• Experience Design\nDesigning around the user's\nexperience value (experience).\nHitachi's Design Thinking\n\n\nHitachi Integrated Report 2022\nCEO Message\nIntroduction\nThe Story of Collaborative Value Creation with Stakeholders\nWhat's Hitachi\nMateriality\nValue Creation\nThe Value Creation Process\nBusiness Strategies\nSustainability\nMid-term Management Plan 2024\nCorporate Governance\nHuman Resources Strategies\nData\nFinancial Strategies\n12\nCFO Message\nI The Mid-term Management Plan 2021 Has Ended and the Groundwork for Growth over the Last Decade is Complete\nThe emergence of COVID-19 greatly affected social and economic activity worldwide during the three years between fiscal 2019 and 2021 in\nthe Mid-term Management Plan 2021. Since the second half of 2021, there have been shortages of semiconductors and the costs of materials\nhave skyrocketed. In 2022, the prices of resources, including crude oil and natural gas, have kept increasing due to the Russia-Ukraine situation,\nwhich exposed us to new geopolitical risks.\nThe major social and economic changes caused by COVID-19 also affected Hitachi's management. Nonetheless, we were able to achieve\nan adjusted operating income ratio of 7.2% in fiscal 2021. Under these conditions, Hitachi has set the goal of achieving a sustain",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000430_segments",
      "report_id": "ID_000430",
      "company_name": "Hitachi",
      "year": 2022,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Digital Systems & Services, Green Energy & Mobility, Connective Industries, Automotive Systems Business, Hitachi Construction Machinery Co. Ltd., Hitachi Metals, Other",
      "golden_context": "Page 106:\n\n 2022\nIntroduction\n10-year Financial Data\n5-year Non-financial Data\nWhat's Hitachi\nSegment Highlights\nValue Creation\nCorporate Data and Stock Information\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n103\n10-year Financial Data\n> Annual Securities Report https://www.hitachi.com/IR-e/library/stock/hit_sr_fy2021_4_en.pdf\nFY2015\nFor the year:\nRevenues\nAdjusted operating income\nAdjusted EBITA\nEBIT\nEBITDA\nNet income attributable to Hitachi, Ltd. stockholders\nEarnings per share attributable to Hitachi, Ltd\nstockholders, basic (yen)\nstockho ers, dive at routale to Hitachi, Lid.\nNet cash provided by operating activities\nNet cash used in investing activities\nFree cash flows\nCore free cash flows\nNet cash provided by (used in) financing activities\nCapital expenditures (Property, plant and equipment)\nDepreciation (Property, plant and equipment)\nR&D expenditures\nTotal assets\nProperty, plant and equipment\nTotal Hitachi, Ltd. stockholders' equity\nInterest-bearing debt\nFY2012\nFY2013\nU.S. GAAP (through FY2013)\n9,041,071\n9,563,791\n422,028\n538,288\nFY2014\nIFRS (from FY2014)\n9,774,930\n641,325\n358,015\n585,662\n175,326\n37.28\n36.29\n583,508\n(553,457)\n30,051\n45,702\n(180,445)\n742,537\n300,664\n341,310\n9,809,230\n2,279,964\n2,082,560\n2,370,079\n264,975\n54.86\n54.85\n439,406\n(491,363)\n(51,957)\n(186,042)\n32,968\n849,877\n329,833\n351,426\n11,016,899\n2,342,091\n2,651,241\n2,823,049\n10,034,305\n634,869\n534,059\n531,003\n217,482\n45.04\n45.00\n451,825\n(612,545)\n(160,720)\n(176,448)\n233,206\n431,201\n350,783\n334,814\n12,433,727\n2,472,497\n2,942,281\n3,557,356\n172,155\n35.65\n35.62\n812,226\n(730,799)\n81,427\n113,371\n(26,467)\n528,551\n366,547\n333,730\n12,551,005\n2,500,226\n2,735,078\n3,604,455\nAdjusted operating income ratio\nROIC\nReturn on equity (ROE)\nReturn on assets (ROA)\nD/E ratio (Including non-controlling interests) (times)\nTotal Hitachi, Ltd. stockholders' equity ratio\nBefore share consolidation\n4.7\n9.1\n2.5\n0.75\n21.2\n10.0\n5.6\n11.2\n3.5\n0.73\n24.1\n10.5\nDividend per share (yen)\nAfter share consolidation\nDividend payout ratio\n26.8\n19.1\nNote 1: Terminology differs under U.S. GAAP and IFS for the following line items (U.S. GAAP/FRS)\n• Sales/Revenues\n• Operating income/Adjusted operating income\nNet income attributable to shareholders/Net income attributable to Hitachi, Ltd. stockholder\nNet income per share attributable to Hitachi, Ltd. stockholders, basic/Earnings per share attributable\nHitachi, Ltd. stockholders, basic\n• Net income per share attributable to Hitachi, Ltd. stockholders, diluted/Earnings per share attributable to\nHitachi, Ltd. stockholders, diluted\n• Stockholders' equity/ Total Hitachi, Ltd. stockholders' equity\nFY2016\n9,162,264\n587,309\n475,182\n231,261\n47.90\n47.88\n629,582\n(337,955)\n291,627\n100,215\n(209,536)\n377,545\n302,757\n323,963\n9,663,917\n1,998,411\n2,967,085\n1,176,603\n6.4\n-\n8.1\n3.0\n0.29\n30.7\n13.0\nFY2017\n9,368,614\n714,630\n644,257\n362,988\n375.93\n375.60\n727,168\n(474,328)\n252,840\n283,593\n(321,454)\n374,901\n265,413\n332,920\n10,106,603\n2,124,827\n3,278,024\n1,050,294\nFY2018\n9,480,619\n754,976\n513,906\n885,318\n222,546\n230.47\n230.25\n610,025\n(162,872)\n447,153\n136,079\n(320,426)\n414,798\n271,682\n323,145\n9,626,592\n1,956,685\n3,262,603\n1,004,771\nFY2019\n8,767,263\n661,883\n183,614\n619,001\n87,596\n90.71\n90.60\n560,920\n(525,826)\n35,094\n135,441\n2,837\n399,643\n342,450\n293,799\n9,930,081\n2,165,311\n3,159,986\n1,485,042\nFY2020\n8,729,196\n495,180\n609,107\n850,287\n1,343,067\n501,613\n519.29\n518.51\n793,128\n(458,840)\n334,288\n419,848\n(184,838)\n359,897\n345,201\n293,571\n11,852,853\n2,408,887\n3,525,502\n2,397,356\nMillions of ye\nFY202\n10,264,602\n738,236\n855,380\n850,951\n1,392,840\n583,470\n603.75\n602.96\n729,943\n(1,048,866)\n(318,923)\n290,082\n202,739\n388,747\n382,922\n317,383\n13,887,502\n2,478,901\n4,341,836\n3,126,712\n6.6\n-\n7.8\n2.9\n0.83\n23.7\n12.0\n6.3\n-\n6.1\n2.4\n0.87\n21.8\n12.0\n7.6\n11.6\n5.0\n0.23\n32.4\n15.0\n8.0\n8.5\n6.8\n3.3\n0.23\n33.9\n7.5\n9.4\n2.7\n1.3\n0.35\n31.8\n5.7\n6.4\n15.0\n4.8\n0.54\n29.7\n7.2\n7.7\n14.8\n5.2\n0.58\n31.3\n75.0\n90.0\n95.0\n105.0\n125.0\n26.6\n33.7\n27.1\n20.0\n39.1\n104.8\n20.2\n20.7\nNote 2: To represent actual management conditions more appropriately, adjusted operating income is presented as revenues less selling, general and administrative\nexpenses, as well as cost of sales.\n3: Adjusted EBITA = Adjusted operating income + Acquisition-related amortization + Share of profits(losses) of investments accounted for using the equity method.\n4: \"Core free cash flows\" are cash flows presented as free cash flows excluding cash flows from M&A and asset sales, etc.\n: On October 1, 2018, the company completed the share consolidation of every five shares into one share for its common stock. The figures for basic ar\nluted earnings per share attributable to Hitachi, Ltd. stockholders are calculated on the assumption that the company conducted this consolidation at t\nbeginning of the previous fiscal year.\n6: ROA (Return on assets) = Net income / Total Assets (Average between the end of current fiscal year and the end of previous fiscal year) × 100\n\n\nHitachi Integrated Report 2022\nIntroduction\n10-year Financial Data\n5-year Non-financial Data\nWhat's Hitachil\nSegment Highlights\nValue Creation\nCorporate Data and Stock Information\nBusiness Strategies\nSustainability\nCorporate Governance\nData\n104\n5-year Non-financial Data\nHuman Capital\nFY2017\nFY2018\nNumber of employees\nHitachi Group\n307,275\n295,941\nHitachi, Ltd.\n34,925\nAverage service (years)*\nHitachi Group\n14.9\n33,490\n15.1\nTurnover ratio (%) 1*2'3\nHitachi Group\n5.5\n6.3\nercentage of Positive Responses t\nmployee Engagement Questions*4 (Hitachi Grou\nGlobal average (%)\n58\n60\nBy region (%)\nJapan\nOverseas\nDigital Talent*5 (Hitachi Group)\nGlobal (persons)\nBy region\nJapan\nOverseas\nDiversity, Equity and Inclusion*2\nRatio of female employees (%)*1 Hitachi Group\nRatio of female managers\n(%/persons) *1*6\nHitachi Group\nRatio of female managers\n(%/persons) *6\nHitachi, Ltd.\n18.2\n7.3\n(3,325)\n4.2\n(577)\n18.8\n8.3\n(3,975)\n4.8\n(635)\n> Hitachi Sustainability Report https://www.hitachi.com/sustainability/download/pdf/en_sustainability2022.pdf\nFY2019\n301,056\n31,442\n15.0\n5.2\nFY2020\n350,864\n29,850\n13.6\n4.3\nFY2021\n368,247\n29,485\n13.5\n7.5\n60\n-\n62\n-\n65\n56\n80\napprox.\n30,000\napprox.\n19,000\napprox.\n11,000\napprox.\n35,000\napprox.\n23,000\napprox.\n12,000\napprox.\n67,000\napprox.\n29,000\napprox.\n38,000\n19.4\n8.9\n(4,302)\n5.5\n(700)\n19.1\n9.5\n(4,641)\n6.5\n(768)\n20.2\n9.8\n(4,762)\n6.8\n(785)\nRatios of Female and Non-Japanese\nExecutives (Hitachi, Ltd.)\nNumber of female executives\nRatio of female executives (%)\nNumber of non-Japanese executives\nRatio of non-Japanese executives (%)\nJune 2018\n2\n2.6\n5\n6.4\nJune 2019\nJuly 2020\nJune 2021\nJune 2022\n5\n7\n9\n5.0\n7\n8.8\n7.1\n10.1\n12.2\n6\n8\n13\n8.6\n11.6\n17.6\nNote: Executive Officers and Corporate Officers\nScope of Data]\n*1 Approximately 50,000 manufacturing workers not registered in the employee database and approximately 35,000 employees of some\nnewly consolidated companies are not included.\n*2 The figures are based on enrolled employees with employment contract including those seconded from Hitachi Group to other\ncompanies and those taking leave, and excluding those seconded from other companies to Hitachi Group (as of March 31).\n*3 Figures include only voluntary resignations.\n*4 In fiscal 2021, the structure of questions measuring employee engagement was revised. In fiscal 2021, employee engagement will be\nbased on four points: sense of pride in working at Hitachi; whether employees can recommend Hitachi as a wonderful place to work;\njob satisfaction and sense of accomplishment; and motivation to continue working at Hitachi for the foreseeable future, calculated from\n*5 Disclosed starting in fiscal 2019. Human capital with any of the 12 capabilities necessary for digital business, such as data science and\nsecurity, are defined as digital talent. The digital talent figure is the human capital total within each capability (total number of persons).\n*6 Rising numbers of female managers in part reflect improved coverage of our human capital databases.\nSafety Figures (Occurrence rate) 7\"8 (Hitachi Group)\n2017\nNorth America\n24.33\nLatin America\n1.62\nEurope\n10.82\nIndia\n1.44\nChina\n1.53\nAsia (excluding India, China and Japan)\n4.41\nOceania\n24.41\nAfrica\n9.93\nOutside Japan total\n7.42\nJapan\n1.85\nGlobal total\n4.22\n2018\n27.96\n0.44\n6.08\n1.44\n1.46\n3.34\n21.94\n11.76\n7.43\n1.64\n4.20\n2019\n20.76\n0.57\n4.78\n1.63\n1.17\n2.63\n29.07\n9.72\n5.78\n1.53\n3.45\n2020\n18.98\n2.12\n3.09\n1.07\n1.12\n1.55\n12.95\n25.37\n4.90\n1.34\n2.89\n2021\n18.46\n1.69\n3.71\n0.53\n1.06\n1.30\n5.32\n1.43\n3.80\n1.20\n2.69\nOccupational Health and Safety\n(Hitachi Group*9, includes contractors)\nNumber of fatal accidents*8\n4\n5\n3\n2\n[Scope of Data]\n*7 Occurrence rate is the rate of workplace accidents per 1,000 directly contracted employees resulting in fatality or worktime loss of one day or more\n*8 January to December each year\n*9 Includes contractors\nSustainable Procurement Activities (Hitachi Group) FY2017 FY2018\nFY2019 FY2020\nFY2021\nSustainability monitoring (companies)\n[Human rights)2,524*10\n131\nSustainability audits (companies)\n18\nSustainability procurement seminars (companies)\n65\n345\n24\n126\n291\n271\n[Environment 708*10\n19\n59\n27\n25\n450\n359\n*10 Sustainability monitoring in fiscal 2021 was focused on human rights and environmental risk assessment.\nEnvironment\nReduction rate in COz emissions per unit from\nproducts and services (base: FY2010)*11 (%)\nCOz emissions at business sites\n(factories and offices) (kt-COz)\nTotal water use (million m')\nWaste and valuables generation (kt)\nAtmospheric emissions of chemical substances (t)\n-\n5,433\n38.54\n1,356\n4,472\n-\n4,973\n37.02\n1,384\n4,389\n19\n4,374\n36.41\n1,302\n3,882\n20\n3,296\n26.35\n1,061\n2,373\n28\n3,384\n25.61\n1,111\n2,499\n*11 New indicator established in fiscal 2019\n[Scope of Data]\nHitachi, Ltd. and consolidated subsidiaries.\nlumber of companies: FY2017: 880; FY2018: 804; FY2019: 815; FY2020: 872; FY2021: 85-\nlata on the environmental load from operations applies to business sites with a large environmental load that are classified as category A\nAll Group business sites are classified into one of three categories: A, B, or C, based on the Criteria for Classification of Environment\nlanagement established by Hitachi, and the most suitable management is then conducted for each in accordance with the respective lev\nof environmental risk. (see page 2 of Hitachi Sustainability Report 2022)\n\n\nHitachi Integrated Report 2022\nIntroduction\nWhat's Hitachi\nValue Creation\nBusiness Strategies\n10-year Financial Data\n5-year Non-financial Data\nSegment Highlights\nCorporate Data and Stock Information\nSegment Highlights\nHitachi Group Business Operation Framework (As of April 2022)\nTo further advance the Social Innovation Business and achieve growth centered on the\nthemes of digital, green and innovation, on April 1, 2022, Hitachi revised its business operation\nframework into three segments comprising Digital Systems & Services, Green Energy & Mobility\nand Connective Industries, as well as Hitachi Astemo.\nDigital Systems & Services\nGreen Energy & Mobility\nConnective Industries\nAutomotive Systems Business\nFinancial Institutions Business Unit\nSocial Infrastructure Systems Business Unit\nServices & Platforms Business Unit\nHitachi Systems\nHitachi Solutions\nNuclear Energy Business Unit\nEnergy Business Unit\nPower Grids Business Unit\nRailway Systems Business Unit\nIndustrial Digital Business Unit\nWater & Environment Business Unit\nBuilding Systems Business Unit\nHitachi Industrial Products, Ltd.\nHitachi Industrial Equipment Systems Co., Ltd.\nHitachi Global Life Solutions, Inc.\nHitachi High-Tech Corporation\nHitachi Astemo\n-Hitachi Construction Machinery Co., Ltd.\nHitachi Metals, Ltd.\nSegment\nBusiness Unit\nMain Group Companies\nListed Company\nSustainability\nCorporate Governance\nData\n105\nRevenues, Adjusted EBITA and EBITDA by Business Segment\nBusiness Segment\nDigital Systems\n& Services\nGreen Energy\n& Mobility\nConnective Industries\nAutomotive Systems\nBusiness\nHitachi Construction\nMachinery Co., Ltd.\nHitachi Metals\nOthers\nCorporate items\n& Eliminations\nTotal\nRevenues\nFY2021\n2,153.6\n2,051.0\n2,752.8\n1,597.7\n1,024.9\n942.7\n456.3\n(714.6)\n1,0264.6\nFY2022\n2,290.0\n2,300.0\n2,770.0\n1,800.0\n430.0\n570.0\n460.0\n(770.0)\n9,850.0\nAdjusted EBITA\nFY2021\nFY2022\n281.4\n92.3\n257.8\n62.3\n100.1\n30.7\n23.6\n7.0\n855.3\n300.0\n159.0\n296.0\n92.0\n36.0\n27.0\n17.0\n(82.0)\n845.0\n*Fiscal 2022 outlook is as of July 29, 2022.\nPlease refer to the following URLs for details on performance by division and performance by former division.\nhttps://www.hitachi.com/New/cnews/month/2022/04/220428/2021_Ansup.pdf\nhttps://www.hitachi.com/New/cnews/month/2022/07/220729/2022_1Qsup.pdf\nBillions of yen\nEBITDA",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_cash_flow",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flows: 827'045m\nInvesting: 151'063m\nFinancing: -1'142'966m",
      "golden_context": "Page 49:\n\n\nCorporate Data and Stock Information\n10-year Financial Data\nAnnual Securities Report Information for Shareholders and Investors (Financial Information) [\nFor the year:\nRevenues\nAdjusted operating income\nAdjusted EBITA\nEBIT\nEBITDA\nNet income attributable to Hitachi, Ltd. stockholders\nEarnings per share attributable to Hitachi, Ltd. stockholders, basic (yen)\nNet cash provided by operating activities\nNet cash used in investing activities\nNet cash provided by (used in) financing activities\nCore free cash flows\nCore free cash flows per share, basic (yen)\nCapital investment (Tangible fixed assets and investment property)\nDepreciation (Tangible fixed assets and investment property)\nR&D expenditures\nTotal assets\nProperty, plant and equipment\nTotal Hitachi, Ltd. stockholders' equity\nInterest-bearing debt\nFY2013\nFY2014\nU.S. GAAP (through FY2013)\nIFRS (from FY2014)\n9,563,791\n9,774,930\n538,288\n641,325\nFY2015\nFY2016\nFY2017\nFY2018\nFY2019\nFY2020\nFY2021\nMillions of yer\nFY2022\n10,034,305\n634,869\n9,162,264\n587,309\n9,368,614\n714,630\n9,480,619\n754,976\n585,662\n534,059\n531,003\n475,182\n644,257\n264,975\n54.86\n439,406\n(491,363)\n32,968\n(186,042)\n(38.52)\n849,877\n329,833\n351,426\n11,016,899\n2,342,091\n2,651,241\n2,823,049\n217,482\n45.04\n451,825\n(612,545)\n233,206\n(176,448)\n(36.54)\n431,201\n350,783\n334,814\n12,433,727\n2,472,497\n2,942,281\n3,557,356\n172,155\n35.65\n812,226\n(730,799)\n(26,467)\n113,371\n23.48\n528,551\n366,547\n333,730\n12,551,005\n2,500,226\n2,735,078\n3,604,455\n231,261\n47.90\n629,582\n(337,955)\n(209,536)\n100,215\n20.76\n377,545\n302,757\n323,963\n9,663,917\n1,998,411\n2,967,085\n1,176,603\n362,988\n375.93\n727,168\n(474,328)\n(321,454)\n283,593\n293.70\n374,901\n265,413\n332,920\n10,106,603\n2,124,827\n3,278,024\n1,050,294\n513,906\n885,318\n222,546\n230.47\n610,025\n(162,872)\n(320,426)\n136,079\n140.92\n414,798\n271,682\n323,145\n9,626,592\n1,956,685\n3,262,603\n1,004,771\n8,767,263\n661,883\n-\n183,614\n619,001\n87,596\n90.71\n560,920\n(525,826)\n2,837\n135,441\n140.25\n399,643\n342,450\n293,799\n9,930,081\n2,165,311\n3,159,986\n1,485,042\n8,729,196\n495,180\n609,107\n850,287\n1,343,067\n501,613\n519.29\n793,128\n(458,840)\n(184,838)\n419,848\n434.64\n359,897\n345,201\n293,571\n11,852,853\n2,408,887\n3,525,502\n2,397,356\n10,264,602\n738,236\n855,380\n850,951\n1,392,840\n583,470\n603.75\n729,943\n(1,048,866)\n202,739\n290,082\n300.16\n388,747\n382,922\n317,383\n13,887,502\n2,478,901\n4,341,836\n3,126,712\n10,881,150\n748,144\n884,606\n845,632\n1,373,468\n649,124\n684.55\n827,045\n151,063\n(1,142,966)\n416,460\n439.19\n349,756\n358,412\n316,280\n12,501,414\n1,700,471\n4,942,854\n2,213,348\nAdjusted EBITA ratio\nReturn on invested capital (ROIC)\nReturn on equity (ROE)\nReturn on assets (ROA)\nD/E ratio (Including non-controlling interests) (times)\nTotal Hitachi, Ltd. stockholders' equity ratio\nTotal shareholder return (millions of yen)\n11.2\n3.5\n0.73\n24.1\n50,710\n7.8\n2.9\n0.83\n23.7\n57,944\nincluding Share buybacks (millions of yen)\nDividend per share (yen)\n10.5\nDividend payout ratio\n19.1\n12.0\n26.6\nNotes 1 Terminology differs under U.S. GAAP and IFRS for the following line items (U.S. GAAP/FRS)\n• Sales/Revenues • Operating income/Adjusted operating income\n• Net income attributable to shareholders/Net income attributable to Hitachi, Ltd. stockholders\n• Net income per share attributable to Hitachi, Ltd. stockholders, basic/Eamings per share attributable to Hitachi, Ltd. stockholders, basic\n• Stockholders' equity/Total Hitachi, Ltd. stockholders' equity\n2 Adjusted operating income is presented as revenues less selling, general and administrative expenses, as well as cost of sales.\n6.1\n2.4\n0.87\n21.8\n57,939\n12.0\n33.7\n-\n-\n8.1\n3.0\n0.29\n30.7\n62,764\n11.6\n5.0\n0.23\n32.4\n72,416\n-\n8.5\n6.8\n3.3\n0.23\n33.9\n86,905\n-\n9.4\n2.7\n1.3\n0.35\n31.8\n91,792\n6.4\n15.0\n4.8\n0.54\n29.7\n101,517\n8.3\n7.7\n14.8\n5.2\n0.58\n31.3\n120,905\n8.1\n7.6\n14.0\n5.3\n0.41\n39.5\n336,593\n199,999\n13.0\n75.0\n90.0\n95.0\n105\n125\n145\n27.1\n20.0\n39.1\n104.8\n20.2\n20.7\n21.0\n3 Adjusted EBITA = Adjusted operating income + Acquisition-related amortization + Share of profits (losses) of investments accounted for using the equity method\n4 \"Core free cash flows\" are net cash provided by operating activities minus capital expenditures.\n5 On October 1, 2018, the company completed the share consolidation of every five shares into one share for its common stock. Basic earnings per share attributable\no Hitachi, Ltd. stockholders, basic core free cash flows per share and dividend per share are calculated on the assumption that the company conducted thi\nonsolidation at the beginning of the previous fiscal yea\n6 ROA (Return on assets) = Net income / Total Assets (Average between the end of current fiscal year and the end of previous fiscal year) X 100\n\n\nIntroduction\nValue Creation\nTransformation\nBusiness Strategies\nGovernance\nPast Mid-term Management Plans\n10-year Financial Data\n5-year Non-financial Data\nCorporate Data and Stock Information\n5-year Non-financial Data\nHuman Capital\nNumber of employees\nFY2018\nHitachi Group\n295,941\nHitachi, Ltd.\nAverage service (years)*'\n33,490\nHitachi Group\n15.1\nTurnover ratio (%) *1*293\nHitachi Group\n6.3\nPercentage of Positive Responses to Employee Engagement Questions* (Hitachi Group)\nGlobal average (%)\n60\nFY2019\n301,056\n31,442\n15.0\n5.2\n60\nFY2020\n350,864\n29,850\n13.6\n4.3\n62\nFY2021\n368,247\n29,485\n13.5\n7.5\nBy region (%)\nJapan\nOverseas\n65\n56\n80\nFY2022\n322,525\n28,672\n12.6\n8.5\n69.5\n61.2\n82.3\nDigital Talent\"S (Hitachi Group)\nGlobal (persons)\nBy region\nJapan\nOverseas\n30,000\n19,000\n11,000\n35,000\n23,000\n12,000\n67,000\n29,000\n38,000\n83,000\n42,000\n41,000\nDiversity, Equity and Inclusion\nRatio of female employees (%)*1*2 Hitachi Group\nRatio of female managers\n(%/persons) *1+2+6*7\nHitachi Group\nRatio of female managers\nHitachi, Ltd.\n(%/persons) *6*g\nRatios of Female and Non-Japanese\nExecutives* (Hitachi, Ltd.)\nNumber of female executives\nRatio of female executives (%)\nNumber of non-Japanese executives\nRatio of non-Japanese executives (%)\n18.8\n8.3\n(3,975)\n4.8\n(635)\n19.4\n8.9\n(4,302)\n5.5\n(700)\n19.1\n9.5\n(4,641)\n6.5\n(768)\n20.2\n9.8\n(4,762)\n6.8\n(785)\n22.3\n13.0\n(8,461)\n7.4\n(826)\nJune 2019\nJuly 2020\n5.0\n8.8\n7.1\n6\n8.6\nJune 2021\nJune 2022\nJune 2023\n7\n9\n10.1\n12.2\n11.4\n8\n13\n16\n11.6\n17.6\n20.3\n* Executive Officers and Corporate Officers\n[Scope of Data)\n*1 Approximately 20,000 manufacturing workers not registered in the employee database and approximately 8,000 employees of some newly\nconsolidated companies are not Included.\n*2 The figures are based on enrolled employees with employment contracts including those seconded from the Hitachi Group to other companies and\nthose taking leave, and excluding those seconded from other companies to the Hitachi Group (as of March 31).\n*3 Figures include only voluntary resignations.\n*4 Questions change slightly each year. Above figures are not adjusted for changes in questions. In fiscal 2022, the composition of questions measuring\nemployee engagement was revised. The percentage was calculated from the average of the percentage of positive responses to the following\nfour questions: pride in working for Hitachi; whether it is a great place to work that one would recommend to others: job satisfaction and sense of\naccomplishment; and desire to continue working for Hitachi for the foreseeable future.\n*5 Disclosure initiated in fiscal 2019. We define digital talent as those who possess any of the 12 capabilities required for digital business, including\ndesign thinking, data science, and security. The number of digital talent is the total number of persons under each capability (total number of people,\nin thousands).\n*6 The increase in the number and percentage of female managers over time reflects improved coverage of our human capital databases and changes\nin the number of consolidated companies.\n*7 Figure does not include subsidiaries with unregistered employees at certain grades (positions).\n*8 The figures are based on the number of employees including those seconded from Hitachi Group to other companies, those taking leave, and those\nseconded from other companies to Hitachi Group (as of March 31). Figures for fiscal 2021 exclude those seconded from other companies to Hitachi Group.\nData\nHitachi Integrated Report 2023\n50\nSustainability Report\nOccurrence Rate (TRIFR*9*10)\n(Hitachi Group)\nGlobal total\nCY2018\n-\nJapan\nAsia (excluding Japan)\nThe Americas\n-\n-\nEurope\nOccupational Health and Safety (Hitachi Group*11)\nNumber of fatal accidents*10\nCY2019\n0.37\n0.17\n0.30\n1.66\n0.53\nCY2020\n0.29\n0.14\n0.17\n1.54\n0.45\nCY2021\n0.28\n0.12\n0.12\n1.36\n0.38\nFY2021\n0.27\n0.12\n0.11\n1.20\n0.45\nFY2022\n0.26\n0.14\n0.09\n1.10\n0.39\n5\n3\n2\n2\n5\n*g TRIFR: Total Recordable Injury Frequency Rate (number of deaths and injuries per 200,000 working hours)\n*10 The number for each year is the number from January to December up to fiscal 2020. The counting period for the total recordable injury frequency\nrate (TRIFR) and the number of fatal accidents changed to numbers from April to March from fiscal 2021, after safety targets in the Mid-term\nManagement Plan 2024 were set.\n*11 Includes contractors\nSustainable Procurement Activities\n(Hitachi Group)\nFY2018\nFY2019\nFY2020\nSustainability monitoring (companies)\n345\n291\nFY2021\n[Human rights\n2,524*12\nFY2022\n271\n1,374*13\nSustainability audits (companies)\n24\nSustainability procurement seminars (companies)\n126\n19\n59\n27\n450\n25\n359\n12 Sustainability monitoring in fiscal 2021 was focused on human rights and environmental risk assessmen\n13 Sustainability monitoring in fiscal 2022 was focused on environment, labor and human rights, sustainable procurement, and ethic\n*14 Including the number of companies audited by Hitachi Energy beginning fiscal 2022\n128-14\n520\nEnvironment (Hitachi Group)\nCOz emissions at business sites\n(factories and offices) (kt-COz)\nWaste and valuables generation (kt)\nWater Usage (million m')\nAtmospheric emissions of chemical\nsubstances (kt)\n4,973\n1,384\n37.02\n4.35\n4,374\n1,302\n36.41\n3.88\nCO2 Avoided Emissions through Products and Services: Target\n3,296\n1,061\n26.35\n2.37\n3,384\n1,111\n26.03\n2.50\n1,538\n356\n14.56\n1.09\n100 million metric tons / year (FY2024)\nForecast\n126.1 million metric tons / year*\n* 3-year average during the Mid-term Management Plan 2024\n(Scope of Data]\nData on the \"Environment (Hitachi Group)\" applies to business sites with a large environmental load that are classified as category A.-\n* All Group business sites are classified into one of three categories: A, B, or C, based on the Criteria for Classification of Environmental Management\nestablished by Hitachi, and the most suitable management is then conducted for each in accordance with the respective level of environmental risk. (See\npage 2 of Hitachi Sustainablity Report 2023. (3)\n\n\nIntroduction|\nValue Creation\nTransformation\nBusiness Strategies\nPast Mid-term Management Plans\n10-year Financial Data\n5-year Non-financial Data\nCorporate Data and Stock Information\nGovernance\nData\nHitachi Integrated Report 2023\n51\nCorporate Data and Stock Information (As of March 31, 2023)\n• Corporate Name\nHitachi, Ltd.\n(Kabushiki Kaisha Hitachi Seisakusho)\n• URL\nhttps://www.hitachi.com/\n• Head Office\n6-6, Marunouchi 1-chome, Chiyoda-ku,\nTokyo 100-8280, Japan\n• Founded\n1910 (Incorporated in 1920)\n• Capital Stock\n462,817 million yen\n• Number of Employees (consolidated)\n322,525\n• Number of Shares Issued\n(common stock, including treasury stock)\n938,083,077\n• Number of Shareholders\n276,429\n• Administrator of Shareholders' Register\nTokyo Securities Transfer Agent Co., Ltd.\n3-11, Kanda Nishiki-cho, Chiyoda-ku,\nTokyo 101-0054, Japan\n• Stock Exchange Listings\nTokyo, Nagoya\n• Accounting Auditor\nErnst & Young ShinNihon LLC\n• Contact\nHitachi, Ltd.\nTEL: +81-3-3258-1111\n• 10 Largest Shareholders\nShare ownership Shareholding ratio\nName\n(shares)\n(%)*2\nThe Master Trust Bank of Japan, Ltd. (Trust Account)\n170,613,800\n18.20\nCustody Bank of Japan, Ltd. (Trust Account)\n62,533,350\n6.67\nState Street Bank and Trust Company 505223\n24,766,482\n2.64\nGOVERNMENT OF NORWAY\n24,582,891\n2.62\nNippon Life Insurance Company\n20,000,099\n2.13\nHitachi Employees' Shareholding Association\n19,674,086\n2.10\nSSBTC CLIENT OMNIBUS ACCOUNT\n19,566,283\n2.09\nNATS CUMCO*1\n17,331,942\n1.85\nState Street Bank West Client - Treaty 505234\n17,147,487\n1.83\nJP Morgan Chase Bank 385632\n14,748.517\n*I NATS CUMCO is the nominee name of the depositary bank, Citibank, N.A., for the aggregate of the company's\nAmerican Depositary Receipts (ADRs) holders.\n*2 Treasury stock (510,830 shares) is not included in the shareholding ratio calculation.\n• Ratings\nRating Company\nStandard & Poor's (S&P)\nMoody's Japan K.K. (Moody's)\nRating and Investment Information, Inc. (R&I)\nLong-term\nA3\nAA-\n(As of August 2023)\nShort-term\nA-1\nP-2\na-1+\n• Assurance\nTo enhance the reliability of the information it discloses, Hitachi uses a combined assurance model that\nincludes assurance obtained from executives and fr",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_company_type",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Hitachi, Ltd",
      "golden_context": "Page 5:\n\nporting Scope\nPeriod: Fiscal 2022 (April 1, 2022–March 31, 2023)\nNote: Includes activities and other information occurring after April 1, 2023.\nCompanies: Hitachi, Ltd., and its consolidated subsidiaries\nAccounting Standard: Unless otherwise noted, this report is prepared in accordance\nwith U.S. GAAP through fiscal 2013 and with the International\nFinancial Reporting Standards (IFRS) from fiscal 2014.\nDisclaimer Regarding Forward-looking Statements\nCertain statements regarding the future of the company set forth in this Report might constitute\n“forward-looking statements,” such as “plan,” “forecast,” “target,” and “strategy.” Although forward-\nlooking statements contained in this report are based upon what the company has determined to be\nreasonable assumptions at the time of disclosure, actual performance ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_key_financials",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenues 7638.2bn, EBITA 724.8bn, net income 641.7bn, EPS 676",
      "golden_context": "Page 6:\n\nBusiness of the Hitachi Group\nTo become a global leader in the Social Innovation Business, Hitachi has strengthened its business portfolio. The three global trends of “Digital,” “Green,” “Connective” present remarkable\nopportunities for expansion. The core concept of Hitachi’s business sectors—Digital Systems & Services, Green Energy & Mobility and Connective Industries is to align assets with each trend’s\nhigh affinity.\nThe three business sectors work as One Hitachi to solve social issues and achieve sustainable growth with Lumada’s Customer Co-creation Framework.\nBusiness Composition*1 Financial Results*1\nOthers\n5%\nDigital Systems &\nServices\n29%\nOthers\n2%\nDigital Systems &\nServices\n39%\nConnective\nIndustries\n36%\nConnective\nIndustries\n41%\nRevenues\nAdj. EBITA / Margin\nNet income\n(attributable to Hitachi, Ltd. stockholders)\n7,638.2\n724.8\n641.7\nbillion yen\nbillion yen/\nbillion yen\n9.5%\nLumada Business\nRevenues\nLumada Business\nAdj. EBITA Margin*2\nEPS*3\n1,960.0\nbillion yen\nApprox. 14%\n676yen\nRevenues\n7,638.2\nbillion yen\nAdj. EBITA\n724.8\nbillion yen\n(FY2022) (FY2022)\nGreen Energy &\nMobility\n30%\nGreen Energy &\nMobility\n18%\nDigital Systems &\nServices (DSS)\nGreen Energy &\nMobility (GEM)\nConnective\nIndustries (CI)\n•\n•\n•\n•\n•\n•\nCloud Services Platforms BU\nDigital Engineering BU\nFinancial Institutions BU\nSocial Infrastructure Systems BU\nHitachi Systems\nHitachi Solutions\n•\n•\n•\n•\nNuclear Energy BU\nPower Grids BU\nHitachi Power Solutions\nRailway Systems BU\n•\n•\n•\n•\n•\n•\n•\nBuilding Systems BU\nHitachi Global Life Solutions\nHitachi High-Tech\nIndustrial Digital BU\nWater & Environment BU\nHitachi Industrial Products\nHitachi Industrial Equipment\nSystems\n*1 Figures are for the continuing consolidated business (three sectors), excluding Hitachi Metals and Hitachi Construction\nMachinery, which were deconsolidated in FY2022, and Hitachi Astemo, which is scheduled to be deconsolidated in FY2023.\nThe figures on this page are FY2022 results.\nBU: Business Unit\n*2 Adj. EBITA for the Lumada business includes equity method profits of Hitachi Construction Machinery.\n*3 The weighted average number of shares for calculating the (basic) earnings per share is 948,247,986 shares.\nRevenues by Region*1\n■ Digital Systems & Services ■ Green Energy & Mobility\n■ Connective Industries ■ Others\nNorth\nAmerica\nRevenues\n1,044.5\nbillion yen\nComponent ratio\n14%\nEurope\nChina\nRevenues\nRevenues\n1,252.9\n953.8\nbillion yen\nbillion yen\nComponent ratio Component ratio\n16%\n13%\nASEAN・\nIndia\nJapan\nRevenues\nRevenues\n717.7\n3,228.6\nbillion yen\nbillion yen\nComponent ratio Component ratio\n9%\n42%\nOther areas: revenues 440.7 billion yen, component ratio 6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_revenue",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenues 7638.2bn",
      "golden_context": "Page 6:\n\nBusiness of the Hitachi Group\nTo become a global leader in the Social Innovation Business, Hitachi has strengthened its business portfolio. The three global trends of “Digital,” “Green,” “Connective” present remarkable\nopportunities for expansion. The core concept of Hitachi’s business sectors—Digital Systems & Services, Green Energy & Mobility and Connective Industries is to align assets with each trend’s\nhigh affinity.\nThe three business sectors work as One Hitachi to solve social issues and achieve sustainable growth with Lumada’s Customer Co-creation Framework.\nBusiness Composition*1 Financial Results*1\nOthers\n5%\nDigital Systems &\nServices\n29%\nOthers\n2%\nDigital Systems &\nServices\n39%\nConnective\nIndustries\n36%\nConnective\nIndustries\n41%\nRevenues\nAdj. EBITA / Margin\nNet income\n(attributable to Hitachi, Ltd. stockholders)\n7,638.2\n724.8\n641.7\nbillion yen\nbillion yen/\nbillion yen\n9.5%\nLumada Business\nRevenues\nLumada Business\nAdj. EBITA Margin*2\nEPS*3\n1,960.0\nbillion yen\nApprox. 14%\n676yen\nRevenues\n7,638.2\nbillion yen\nAdj. EBITA\n724.8\nbillion yen\n(FY2022) (FY2022)\nGreen Energy &\nMobility\n30%\nGreen Energy &\nMobility\n18%\nDigital Systems &\nServices (DSS)\nGreen Energy &\nMobility (GEM)\nConnective\nIndustries (CI)\n•\n•\n•\n•\n•\n•\nCloud Services Platforms BU\nDigital Engineering BU\nFinancial Institutions BU\nSocial Infrastructure Systems BU\nHitachi Systems\nHitachi Solutions\n•\n•\n•\n•\nNuclear Energy BU\nPower Grids BU\nHitachi Power Solutions\nRailway Systems BU\n•\n•\n•\n•\n•\n•\n•\nBuilding Systems BU\nHitachi Global Life Solutions\nHitachi High-Tech\nIndustrial Digital BU\nWater & Environment BU\nHitachi Industrial Products\nHitachi Industrial Equipment\nSystems\n*1 Figures are for the continuing consolidated business (three sectors), excluding Hitachi Metals and Hitachi Construction\nMachinery, which were deconsolidated in FY2022, and Hitachi Astemo, which is scheduled to be deconsolidated in FY2023.\nThe figures on this page are FY2022 results.\nBU: Business Unit\n*2 Adj. EBITA for the Lumada business includes equity method profits of Hitachi Construction Machinery.\n*3 The weighted average number of shares for calculating the (basic) earnings per share is 948,247,986 shares.\nRevenues by Region*1\n■ Digital Systems & Services ■ Green Energy & Mobility\n■ Connective Industries ■ Others\nNorth\nAmerica\nRevenues\n1,044.5\nbillion yen\nComponent ratio\n14%\nEurope\nChina\nRevenues\nRevenues\n1,252.9\n953.8\nbillion yen\nbillion yen\nComponent ratio Component ratio\n16%\n13%\nASEAN・\nIndia\nJapan\nRevenues\nRevenues\n717.7\n3,228.6\nbillion yen\nbillion yen\nComponent ratio Component ratio\n9%\n42%\nOther areas: revenues 440.7 billion yen, component ratio 6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_revenue_growth",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 10264.6bn, prior year: 9500bn",
      "golden_context": "Page 50:\n\n(Billions of yen)\nMid-term Management\nPlan 2021 targets\n(as announced in April 2021)\nFY2021\nresults\nRevenue 9,500.0 10,264.6\nAdjusted operating\nincome/ratio 740.0 / 7.8% 738.2 / 7.2%\nNet income attributable to\nHitachi, Ltd. stockholders 550.0 583.4\nOperating cash flows\n(FY2019–2021 cumulative total) Over 2,100 Approx. 2,100\nROIC 8.3% 7.7%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000431_segments",
      "report_id": "ID_000431",
      "company_name": "Hitachi",
      "year": 2023,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Digital Systems & Services, Green Energy & Mobility, Connective Industries, Other",
      "golden_context": "Page 6:\n\nBusiness of the Hitachi Group\nTo become a global leader in the Social Innovation Business, Hitachi has strengthened its business portfolio. The three global trends of “Digital,” “Green,” “Connective” present remarkable\nopportunities for expansion. The core concept of Hitachi’s business sectors—Digital Systems & Services, Green Energy & Mobility and Connective Industries is to align assets with each trend’s\nhigh affinity.\nThe three business sectors work as One Hitachi to solve social issues and achieve sustainable growth with Lumada’s Customer Co-creation Framework.\nBusiness Composition*1 Financial Results*1\nOthers\n5%\nDigital Systems &\nServices\n29%\nOthers\n2%\nDigital Systems &\nServices\n39%\nConnective\nIndustries\n36%\nConnective\nIndustries\n41%\nRevenues\nAdj. EBITA / Margin\nNet income\n(attributable to Hitachi, Ltd. stockholders)\n7,638.2\n724.8\n641.7\nbillion yen\nbillion yen/\nbillion yen\n9.5%\nLumada Business\nRevenues\nLumada Business\nAdj. EBITA Margin*2\nEPS*3\n1,960.0\nbillion yen\nApprox. 14%\n676yen\nRevenues\n7,638.2\nbillion yen\nAdj. EBITA\n724.8\nbillion yen\n(FY2022) (FY2022)\nGreen Energy &\nMobility\n30%\nGreen Energy &\nMobility\n18%\nDigital Systems &\nServices (DSS)\nGreen Energy &\nMobility (GEM)\nConnective\nIndustries (CI)\n•\n•\n•\n•\n•\n•\nCloud Services Platforms BU\nDigital Engineering BU\nFinancial Institutions BU\nSocial Infrastructure Systems BU\nHitachi Systems\nHitachi Solutions\n•\n•\n•\n•\nNuclear Energy BU\nPower Grids BU\nHitachi Power Solutions\nRailway Systems BU\n•\n•\n•\n•\n•\n•\n•\nBuilding Systems BU\nHitachi Global Life Solutions\nHitachi High-Tech\nIndustrial Digital BU\nWater & Environment BU\nHitachi Industrial Products\nHitachi Industrial Equipment\nSystems\n*1 Figures are for the continuing consolidated business (three sectors), excluding Hitachi Metals and Hitachi Construction\nMachinery, which were deconsolidated in FY2022, and Hitachi Astemo, which is scheduled to be deconsolidated in FY2023.\nThe figures on this page are FY2022 results.\nBU: Business Unit\n*2 Adj. EBITA for the Lumada business includes equity method profits of Hitachi Construction Machinery.\n*3 The weighted average number of shares for calculating the (basic) earnings per share is 948,247,986 shares.\nRevenues by Region*1\n■ Digital Systems & Services ■ Green Energy & Mobility\n■ Connective Industries ■ Others\nNorth\nAmerica\nRevenues\n1,044.5\nbillion yen\nComponent ratio\n14%\nEurope\nChina\nRevenues\nRevenues\n1,252.9\n953.8\nbillion yen\nbillion yen\nComponent ratio Component ratio\n16%\n13%\nASEAN・\nIndia\nJapan\nRevenues\nRevenues\n717.7\n3,228.6\nbillion yen\nbillion yen\nComponent ratio Component ratio\n9%\n42%\nOther areas: revenues 440.7 billion yen, component ratio 6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_cash_flow",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Core free cash flows: 571467m",
      "golden_context": "Page 47:\n\n10-Year Financial Data Annual Securities Report Information for Shareholders and Investors (Financial Information)\nmillion yen\nFor the year: IFRS\nFY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023\nRevenues 9,774,930 10,034,305 9,162,264 9,368,614 9,480,619 8,767,263 8,729,196 10,264,602 10,881,150 9,728,716\nAdjusted operating income 641,325 634,869 587,309 714,630 754,976 661,883 495,180 738,236 748,144 755,816\nAdjusted EBITAー ー ー ー ー ー 609,107 855,380 884,606 918,184\nEBIT 534,059 531,003 475,182 644,257 513,906 183,614 850,287 850,951 845,632 857,942\nEBITDAー ー ー ー 885,318 619,001 1,343,067 1,392,840 1,373,468 1,310,702\nNet income attributable to Hitachi, Ltd. stockholders 217,482 172,155 231,261 362,988 222,546 87,596 501,613 583,470 649,124 589,896\nEarnings per share attributable to Hitachi, Ltd. stockholders, basic (yen) 45.04 35.65 47.90 375.93 230.47 90.71 519.29 603.75 684.55 634.57\nNet cash provided by operating activities 451,825 812,226 629,582 727,168 610,025 560,920 793,128 729,943 827,045 956,612\nNet cash used in investing activities (612,545) (730,799) (337,955) (474,328) (162,872) (525,826) (458,840) (1,048,866) 151,063 (131,543)\nNet cash provided by (used in) financing activities 233,206 (26,467) (209,536) (321,454) (320,426) 2,837 (184,838) 202,739 (1,142,966) (1,024,907)\nCore free cash flows (176,448) 113,371 100,215 283,593 136,079 135,441 419,848 290,082 416,460 571,467\nCore free cash flows per share, basic (CFPS) (yen) (36.54) 23.48 20.75 293.70 140.92 140.25 434.64 300.16 439.19 614.74\nCapital investment (Tangible fixed assets and investment property) 431,201 528,551 377,545 374,901 414,798 399,643 359,897 388,747 349,756 315,891\nDepreciation (Tangible fixed assets and investment property) 350,783 366,547 302,757 265,413 271,682 342,450 345,201 382,922 358,412 280,306\nR&D expenditures 334,814 333,730 323,963 332,920 323,145 293,799 293,571 317,383 316,280 290,145\nTotal assets 12,433,727 12,551,005 9,663,917 10,106,603 9,626,592 9,930,081 11,852,853 13,887,502 12,501,414 12,221,284\nProperty, plant and equipment 2,472,497 2,500,226 1,998,411 2,124,827 1,956,685 2,165,311 2,408,887 2,478,901 1,700,471 1,221,842\nTotal Hitachi, Ltd. stockholders’ equity 2,942,281 2,735,078 2,967,085 3,278,024 3,262,603 3,159,986 3,525,502 4,341,836 4,942,854 5,703,705\nInterest-bearing debt 3,557,356 3,604,455 1,176,603 1,050,294 1,004,771 1,485,042 2,397,356 3,126,712 2,213,348 1,180,022\nAdjusted EBITA marginー ー ー ー ー ー 7.0 8.3 8.1 9.4\nReturn on invested capital (ROIC)ー ー ー ー 8.5 9.4 6.4 7.7 7.6 8.7\nReturn on equity (ROE) 7.8 6.1 8.1 11.6 6.8 2.7 15.0 14.8 14.0 11.1\nReturn on assets (ROA) 2.9 2.4 3.0 5.0 3.3 1.3 4.8 5.2 5.3 5.1\nD/E ratio (Including non-controlling interests) (times) 0.83 0.87 0.29 0.23 0.23 0.35 0.54 0.58 0.41 0.20\nTotal Hitachi, Ltd. stockholders’ equity ratio 23.7 21.8 30.7 32.4 33.9 31.8 29.7 31.3 39.5 46.7\nTotal shareholder return (million yen) 57,944 57,939 62,764 72,416 86,905 91,792 101,517 120,905 336,593 266,805\nincluding share buybacks (million yen) 0 0 0 0 0 0 0 0 199,999 99,999\nDividend per share (yen) 12.0 12.0 13.0 75.0 90.0 95.0 105 125 145 180\nDividend payout ratio 26.6 33.7 27.1 20.0 39.1 104.8 20.2 20.7 21.0 28.3\nNotes:1. Adjusted operating income is presented as revenues less selling, general and administrative expenses, as well as cost of sales.\n2. Adjusted EBITA = Adjusted operating income + Acquisition-related amortization + Share of profits (losses) of investments accounted\nfor using the equity method.\n3. “Core free cash flows” are net cash provided by operating activities minus capital expenditures.\n4. On October 1, 2018, the Company completed the share consolidation of every five shares into one share for its common stock. Basic earnings per share\nattributable to Hitachi, Ltd. stockholders, basic core free cash flows per share, and dividend per share are calculated on the assumption that the Company\nconducted this consolidation at the beginning of the previous fiscal year.\n5. On July 1, 2024, the Company executed a 5-for-1 split of its common stock.\n6. ROA (Return on assets) = Net income / Total assets (Average between the end of current fiscal year and the end of previous fiscal year) × 100",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_company_type",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 3:\n\nReporting Scope\nPeriod: Fiscal 2023 (April 1, 2023–March 31, 2024)\nNote: Includes activities and other information occurring after April 1, 2024.\nCompanies: Hitachi, Ltd., and its consolidated subsidiaries\nAccounting Standard: Unless otherwise noted, this report is prepared in accordance\nwith U.S. GAAP through fiscal 2013 and with the International\nFinancial Reporting Standards (IFRS) from fiscal 2014.\nDisclaimer Regarding Forward-looking Statements\nCertain statements regarding the future of the Company set forth in this Report might constitute\n“forward-looking statements,” such as “plan,” “forecast,” “target,” and “strategy.” Although forward-\nlooking statements contained in this report are based upon what the Company has determined to be\nreasonable assumptions at the time of disclosure, actual performance and other results could differ\nmaterially from those anticipated in such statements.\n*All company names and product names are the trademarks or registered trademarks of their\nrespective companies.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_key_financials",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Adj. EBITA 867.4bn, net income: 589.8bn, EPS 634",
      "golden_context": "Page 4:\n\nHitachi at a Glance\nFinancial Indicators (FY2023)\nFigures shown below each KPI are the change compared with FY2022.\nRevenues*1\nAdj. EBITA / Adj. EBITA margin*1\n8,564.3 billion yen\n867.4 /\nbillion yen 10.1%\n+12%\n+142.6 /\nbillion yen +0.6\npts\n(59.2)billion yen\nLumada business\nRevenues\n2,334.0billion yen\nAdj. EBITA margin\nApprox.15%\nBusiness Composition Revenues by Region\nDigital Systems &\nServices\nOthers\n6%\n28%\nOthers\n1%\nDigital Systems &\nServices\n39%\nNorth\nAmerica\nRevenues\nComponent\nratio\n15%\n8,564.3\nbillion yen\nAdj. EBITA\n867.4\nbillion yen\nConnective\nIndustries\n33%\nChina\nComponent\nratio\n11%\nNet income\n(attributable to Hitachi, Ltd.\nstockholders)\n589.8billion yen\nEPS*2\n634yen\nCore FCF\n571.4billion yen\nROIC\n8.7%\n(50)yen\n+155.0billion yen\n+1.1pts\nEurope\nJapan\nGreen Energy &\nMobility\n33%\nConnective\nIndustries\n37%\nGreen Energy &\nMobility\n23%\nASEAN・\nIndia\nComponent\nratio\n17%\nComponent\nratio\n9%\nOthers\nComponent\nratio\n41%\nComponent\nratio\n7%\nDigital Systems &\nServices\nGreen Energy &\nMobility\nConnective\nIndustries\nOthers\nSustainability Management Indicators (FY2023)\nCO2 avoided emissions\n(three-year average from FY2022 to FY2024)\n153million\nmetric tons\nReduction rate of\ntotal CO2*3\n(compared with FY2010)\n74%\nDigital talent\n95,000\n*1 Figures shown reflect the three sectors of Hitachi (excluding Hitachi Astemo), derived by deducting the equity method earnings of Hitachi\nAstemo and pre-equity-method consolidated figures of subsidiaries from the consolidated totals.\n*2 Calculated based on the number of shares before the stock split (effective July 1, 2024)\nEngagement\nscore\n68.6\nPercentage of\nwomen officers*4\n(as of June 2024)\n11.8%\n*3 Total CO2 reduction rate at business sites (factories and offices)\n*4 Ratios of women and non-Japanese Executive Officers and corporate officers\nRatio of non-Japanese\nexecutives*4\n(as of June 2024)\n25.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_revenue",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "8564.3bn",
      "golden_context": "Page 4:\n\nHitachi at a Glance\nFinancial Indicators (FY2023)\nFigures shown below each KPI are the change compared with FY2022.\nRevenues*1\nAdj. EBITA / Adj. EBITA margin*1\n8,564.3 billion yen\n867.4 /\nbillion yen 10.1%\n+12%\n+142.6 /\nbillion yen +0.6\npts\n(59.2)billion yen\nLumada business\nRevenues\n2,334.0billion yen\nAdj. EBITA margin\nApprox.15%\nBusiness Composition Revenues by Region\nDigital Systems &\nServices\nOthers\n6%\n28%\nOthers\n1%\nDigital Systems &\nServices\n39%\nNorth\nAmerica\nRevenues\nComponent\nratio\n15%\n8,564.3\nbillion yen\nAdj. EBITA\n867.4\nbillion yen\nConnective\nIndustries\n33%\nChina\nComponent\nratio\n11%\nNet income\n(attributable to Hitachi, Ltd.\nstockholders)\n589.8billion yen\nEPS*2\n634yen\nCore FCF\n571.4billion yen\nROIC\n8.7%\n(50)yen\n+155.0billion yen\n+1.1pts\nEurope\nJapan\nGreen Energy &\nMobility\n33%\nConnective\nIndustries\n37%\nGreen Energy &\nMobility\n23%\nASEAN・\nIndia\nComponent\nratio\n17%\nComponent\nratio\n9%\nOthers\nComponent\nratio\n41%\nComponent\nratio\n7%\nDigital Systems &\nServices\nGreen Energy &\nMobility\nConnective\nIndustries\nOthers\nSustainability Management Indicators (FY2023)\nCO2 avoided emissions\n(three-year average from FY2022 to FY2024)\n153million\nmetric tons\nReduction rate of\ntotal CO2*3\n(compared with FY2010)\n74%\nDigital talent\n95,000\n*1 Figures shown reflect the three sectors of Hitachi (excluding Hitachi Astemo), derived by deducting the equity method earnings of Hitachi\nAstemo and pre-equity-method consolidated figures of subsidiaries from the consolidated totals.\n*2 Calculated based on the number of shares before the stock split (effective July 1, 2024)\nEngagement\nscore\n68.6\nPercentage of\nwomen officers*4\n(as of June 2024)\n11.8%\n*3 Total CO2 reduction rate at business sites (factories and offices)\n*4 Ratios of women and non-Japanese Executive Officers and corporate officers\nRatio of non-Japanese\nexecutives*4\n(as of June 2024)\n25.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_revenue_growth",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "12% growth",
      "golden_context": "Page 4:\n\nHitachi at a Glance\nFinancial Indicators (FY2023)\nFigures shown below each KPI are the change compared with FY2022.\nRevenues*1\nAdj. EBITA / Adj. EBITA margin*1\n8,564.3 billion yen\n867.4 /\nbillion yen 10.1%\n+12%\n+142.6 /\nbillion yen +0.6\npts\n(59.2)billion yen\nLumada business\nRevenues\n2,334.0billion yen\nAdj. EBITA margin\nApprox.15%\nBusiness Composition Revenues by Region\nDigital Systems &\nServices\nOthers\n6%\n28%\nOthers\n1%\nDigital Systems &\nServices\n39%\nNorth\nAmerica\nRevenues\nComponent\nratio\n15%\n8,564.3\nbillion yen\nAdj. EBITA\n867.4\nbillion yen\nConnective\nIndustries\n33%\nChina\nComponent\nratio\n11%\nNet income\n(attributable to Hitachi, Ltd.\nstockholders)\n589.8billion yen\nEPS*2\n634yen\nCore FCF\n571.4billion yen\nROIC\n8.7%\n(50)yen\n+155.0billion yen\n+1.1pts\nEurope\nJapan\nGreen Energy &\nMobility\n33%\nConnective\nIndustries\n37%\nGreen Energy &\nMobility\n23%\nASEAN・\nIndia\nComponent\nratio\n17%\nComponent\nratio\n9%\nOthers\nComponent\nratio\n41%\nComponent\nratio\n7%\nDigital Systems &\nServices\nGreen Energy &\nMobility\nConnective\nIndustries\nOthers\nSustainability Management Indicators (FY2023)\nCO2 avoided emissions\n(three-year average from FY2022 to FY2024)\n153million\nmetric tons\nReduction rate of\ntotal CO2*3\n(compared with FY2010)\n74%\nDigital talent\n95,000\n*1 Figures shown reflect the three sectors of Hitachi (excluding Hitachi Astemo), derived by deducting the equity method earnings of Hitachi\nAstemo and pre-equity-method consolidated figures of subsidiaries from the consolidated totals.\n*2 Calculated based on the number of shares before the stock split (effective July 1, 2024)\nEngagement\nscore\n68.6\nPercentage of\nwomen officers*4\n(as of June 2024)\n11.8%\n*3 Total CO2 reduction rate at business sites (factories and offices)\n*4 Ratios of women and non-Japanese Executive Officers and corporate officers\nRatio of non-Japanese\nexecutives*4\n(as of June 2024)\n25.0%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000432_segments",
      "report_id": "ID_000432",
      "company_name": "Hitachi",
      "year": 2024,
      "country": "JP",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Green Energy & Mobility, Connective Industries, Digital Systems & Services",
      "golden_context": "Page 13:\n\nThe Value Creation Process\nOur Advantages and\nResources\nSustainable Growth\nin the Social Innovation Business\nGlobal and diverse organization*1\nand human capital\nDEI promotion for diverse human resources\nCompensation structure supporting growth mindset\nGlobal top-tier board\nIncreasing\nCorporate Value\nG\nCreative Value\nSupport people’s quality of life\nwith data and technology\nthat fosters a sustainable society\nPlanetary\nBoundaries\nProtect the earth\nwhile maintaining\nsocial infrastructure\nSociety\nOverseas employee ratio\nRatio of women executive\nand corporate officers\nRatio of non-Japanese executive\nand corporate officers\nDigital talent\nEngagement score\n58%\n12%\n25%\n95,000\n68.6\nGlobal assets capturing technology trends\nThree business segments matching trends\nFour strategic cross-sector functions\nOverseas regional headquarters\ncapturing global markets\nb\nu\ns\ni\nn\ne\ns\ns\nT\nh\nr\ne\ne\ns\ne\ng\nm\ne\nn\nt\ns\nE\nn\ne\nr\ng\ny\n&\nr\ne\ne\nn\nM\no\nb\ni\nl\ni\nt\ny\nMarketing &\nsales\nFour\nstrategic\ncross-sector\nfunctions\nInnovation\nEvolving\nGovernance\nWellbeing\nA society where\nevery individual is\ncomfortable and active\nPeople\nGlobal asset ratio*2\n70%\nInnovating technologies\nBackcast corporate R&D\nthat develops the next Lumada solutions\nStart-up investments\nGreen\ns\nr\nv i\ne\nc\nD\ni g\ni t\na\nl\nS\ny\nt e\ns\nm s & Innovating\nTechnologies and\nBusiness Models\nDigital\nC\no\nn\nn\ne\nc\nt\ni\nv\ne\nStrengthening\nthe Portfolio\nI\nn\nd\nu\ns\nt\nr\ni\ne\ns\nContribute to customers’\ndecarbonization\n153.0 million metric tons/year*3\nLumada drives growth\nby contributing to DX/GX\nR&D investments*1\nInvestments in start-ups\n290.1 billion yen\n$600M in total\nunder management\nS e\nUnique business model\nLumada’s customer co-creation framework\nOne Hitachi framework that enables\napproach to global customers\nMateriality\nRevenues growth (YoY)*4\n+12%\nAdj. EBITA margin*4\n10.1%\nLumada revenues ratio 27%\nAdj. EBITA margin\nApprox.15%\nEPS*5\n634 yen\nCFPS*5\n614 yen\nTotal shareholder return\n186.9%\n(past three years)\nLumada use cases (cumulative)\nSolutions (cumulative)\nLumada Innovation Hub Tokyo*1\nNumber of visitors\nCollaborative creation\ncases with customers\nAlliance program partners\n1,409\n221\n21,000\n130\n70\nEnvironment Resilience Safety &\nSecurity Quality of Life Business\nwith Integrity\nDEI\nResilient organization\nCorporate governance Risk management\nMission Contribute to society through the development of superior,\noriginal technology and products.\n*1 The figures described on this page are FY2023 performance\n*2 FY2021\n*3 Three-year average during the period of the Mid-term Management\nPlan 2024 (forecast)\n*4 Figures shown reflect the three sectors of Hitachi (excluding Hitachi\nAstemo), derived by deducting the equity method earnings of Hitachi\nAstemo and pre-equity-method consolidated figures of subsidiaries\nfrom the consolidated totals.\n*5 Calculated based on the number of shares before the stock split\n(effective July 1, 2024)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_cash_flow",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "net cash provided operating: 152208m, investing: 61387m, financing: -61311m",
      "golden_context": "Page 4-5:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 74th 2014 75th 2015 76th 2016 77th 2017 78th\n2018\nNet sales (Millions of yen)\n(Millions of dollars)\n¥571,726 ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 USD 9,959\nOperating profit (loss)\n(Millions of yen)\n(Millions of dollars)\n(46,425) 24,770 32,881 29,362 177,557 1,675\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n6,086 70,530 28,790 50,364 199,356 1,880\nProfit (loss) attributable to\nowners of parent\n(Millions of yen)\n(Millions of dollars)\n(23,222) 41,843 16,505 102,574 139,590 1,316\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n17,971 59,373 (3,689) 104,525 134,090 1,265\nNet assets (Millions of yen)\n(Millions of dollars) 1,118,438 1,167,556 1,160,901 1,250,972 1,323,574 12,486\nTotal assets (Millions of yen)\n(Millions of dollars) 1,306,410 1,352,944 1,296,902 1,468,978 1,633,748 15,412\nNet assets per share (Yen)\n(Dollars) 9,447.00 9,862.52 9,662.73 10,412.59 10,980.45 103.58\nProfit (loss) per share (Yen)\n(Dollars) (183.59) 353.49 137.40 853.87 1,162.30 10.96\nDiluted profit per share (Yen)\n(Dollars)\n– – – –\n―\n–\nCapital adequacy ratio\n(%) 85.60 86.29 89.50 85.15 80.74 –\nReturn on equity (ROE)\n(%) – 3.66 1.42 8.51 10.86 –\nPrice earnings ratio (PER)\n(Times) – 50.00 116.45 30.26 40.32 –\nNet cash provided by (used in)\noperating activities\n(Millions of yen)\n(Millions of dollars)\n(23,114) 60,293 55,190 19,101 152,208 1,435\nNet cash provided by (used in)\ninvesting activities\n(Millions of yen)\n(Millions of dollars)\n(20,084) (105,394) (71,740) 69,518 61,387 579\nNet cash provided by (used in)\nfinancing activities\n(Millions of yen)\n(Millions of dollars)\n(127,163) (11,916) (2,996) (14,435) (61,311) (578)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥341,266 ¥281,539 ¥258,095 ¥330,974 ¥484,480 USD 4,570\nNumber of employees\n[Separately, average number of\ntemporary employees] (Persons)\n5,213\n[717]\n5,120\n[667]\n5,064\n[633]\n5,166\n[622]\n5,501\n[529]\n–\n[–]\n(Notes) 1. Net sales do not include consumption taxes.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\n3.\n“Return on equity” and “Price earnings ratio” for the 74th fiscal year are not noted because the Company recorded net loss attributable to owners of parent in the 74th fiscal year.\n- 2 -\n2. Description of business\nIn the field of home entertainment, Nintendo Co., Ltd., its subsidiaries and associates (composed of 26 subsidiaries\nand five associates as of March 31, 2018), primarily engage in the development, manufacture and sale of\nentertainment products. Nintendo’s major products are categorized into computer-enhanced “dedicated video game\nplatforms,\n” playing cards, Karuta and other products. “Dedicated video game platforms” are defined as hardware\nand software for the handheld systems and home consoles developed by Nintendo Co., Ltd. and its subsidiaries and\nassociates, manufactured by Nintendo Co., Ltd. and distributed primarily by its subsidiaries and associates in\nJapanese and overseas markets.\nThe positions of Nintendo Co., Ltd. and its main subsidiaries and associates are described below. Segment\ninformation is omitted as Nintendo operates as a single business segment.\n- Development\nNintendo Co., Ltd., Nintendo Technology Development Inc., Nintendo Software Technology Corporation, Retro\nStudios, Inc., Nintendo European Research and Development SAS, iQue (China) Ltd., ND CUBE Co., Ltd., 1-UP\nStudio Inc., MONOLITH SOFTWARE INC., Mario Club Co., Ltd.\n- Manufacture\nNintendo Co., Ltd.\n- Sale\nNintendo Co., Ltd., Nintendo of America Inc., Nintendo of Canada Ltd., Nintendo of Europe GmbH, Nintendo\nFrance S.A.R.L., Nintendo Benelux B.V., Nintendo Ibérica, S.A., Nintendo Australia Pty Limited, Nintendo RU\nLLC., Nintendo of Korea Co., Ltd., Nintendo (Hong Kong) Limited, Nintendo Sales Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_company_type",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2018\nfor the fiscal year ended March 31, 2018\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_key_financials",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 1055682m, operating profit: 177557m, net cash operating: 152208m",
      "golden_context": "Page 4-5:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 74th 2014 75th 2015 76th 2016 77th 2017 78th\n2018\nNet sales (Millions of yen)\n(Millions of dollars)\n¥571,726 ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 USD 9,959\nOperating profit (loss)\n(Millions of yen)\n(Millions of dollars)\n(46,425) 24,770 32,881 29,362 177,557 1,675\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n6,086 70,530 28,790 50,364 199,356 1,880\nProfit (loss) attributable to\nowners of parent\n(Millions of yen)\n(Millions of dollars)\n(23,222) 41,843 16,505 102,574 139,590 1,316\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n17,971 59,373 (3,689) 104,525 134,090 1,265\nNet assets (Millions of yen)\n(Millions of dollars) 1,118,438 1,167,556 1,160,901 1,250,972 1,323,574 12,486\nTotal assets (Millions of yen)\n(Millions of dollars) 1,306,410 1,352,944 1,296,902 1,468,978 1,633,748 15,412\nNet assets per share (Yen)\n(Dollars) 9,447.00 9,862.52 9,662.73 10,412.59 10,980.45 103.58\nProfit (loss) per share (Yen)\n(Dollars) (183.59) 353.49 137.40 853.87 1,162.30 10.96\nDiluted profit per share (Yen)\n(Dollars)\n– – – –\n―\n–\nCapital adequacy ratio\n(%) 85.60 86.29 89.50 85.15 80.74 –\nReturn on equity (ROE)\n(%) – 3.66 1.42 8.51 10.86 –\nPrice earnings ratio (PER)\n(Times) – 50.00 116.45 30.26 40.32 –\nNet cash provided by (used in)\noperating activities\n(Millions of yen)\n(Millions of dollars)\n(23,114) 60,293 55,190 19,101 152,208 1,435\nNet cash provided by (used in)\ninvesting activities\n(Millions of yen)\n(Millions of dollars)\n(20,084) (105,394) (71,740) 69,518 61,387 579\nNet cash provided by (used in)\nfinancing activities\n(Millions of yen)\n(Millions of dollars)\n(127,163) (11,916) (2,996) (14,435) (61,311) (578)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥341,266 ¥281,539 ¥258,095 ¥330,974 ¥484,480 USD 4,570\nNumber of employees\n[Separately, average number of\ntemporary employees] (Persons)\n5,213\n[717]\n5,120\n[667]\n5,064\n[633]\n5,166\n[622]\n5,501\n[529]\n–\n[–]\n(Notes) 1. Net sales do not include consumption taxes.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\n3.\n“Return on equity” and “Price earnings ratio” for the 74th fiscal year are not noted because the Company recorded net loss attributable to owners of parent in the 74th fiscal year.\n- 2 -\n2. Description of business\nIn the field of home entertainment, Nintendo Co., Ltd., its subsidiaries and associates (composed of 26 subsidiaries\nand five associates as of March 31, 2018), primarily engage in the development, manufacture and sale of\nentertainment products. Nintendo’s major products are categorized into computer-enhanced “dedicated video game\nplatforms,\n” playing cards, Karuta and other products. “Dedicated video game platforms” are defined as hardware\nand software for the handheld systems and home consoles developed by Nintendo Co., Ltd. and its subsidiaries and\nassociates, manufactured by Nintendo Co., Ltd. and distributed primarily by its subsidiaries and associates in\nJapanese and overseas markets.\nThe positions of Nintendo Co., Ltd. and its main subsidiaries and associates are described below. Segment\ninformation is omitted as Nintendo operates as a single business segment.\n- Development\nNintendo Co., Ltd., Nintendo Technology Development Inc., Nintendo Software Technology Corporation, Retro\nStudios, Inc., Nintendo European Research and Development SAS, iQue (China) Ltd., ND CUBE Co., Ltd., 1-UP\nStudio Inc., MONOLITH SOFTWARE INC., Mario Club Co., Ltd.\n- Manufacture\nNintendo Co., Ltd.\n- Sale\nNintendo Co., Ltd., Nintendo of America Inc., Nintendo of Canada Ltd., Nintendo of Europe GmbH, Nintendo\nFrance S.A.R.L., Nintendo Benelux B.V., Nintendo Ibérica, S.A., Nintendo Australia Pty Limited, Nintendo RU\nLLC., Nintendo of Korea Co., Ltd., Nintendo (Hong Kong) Limited, Nintendo Sales Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_revenue",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales: 1055682m",
      "golden_context": "Page 4-5:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 74th 2014 75th 2015 76th 2016 77th 2017 78th\n2018\nNet sales (Millions of yen)\n(Millions of dollars)\n¥571,726 ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 USD 9,959\nOperating profit (loss)\n(Millions of yen)\n(Millions of dollars)\n(46,425) 24,770 32,881 29,362 177,557 1,675\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n6,086 70,530 28,790 50,364 199,356 1,880\nProfit (loss) attributable to\nowners of parent\n(Millions of yen)\n(Millions of dollars)\n(23,222) 41,843 16,505 102,574 139,590 1,316\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n17,971 59,373 (3,689) 104,525 134,090 1,265\nNet assets (Millions of yen)\n(Millions of dollars) 1,118,438 1,167,556 1,160,901 1,250,972 1,323,574 12,486\nTotal assets (Millions of yen)\n(Millions of dollars) 1,306,410 1,352,944 1,296,902 1,468,978 1,633,748 15,412\nNet assets per share (Yen)\n(Dollars) 9,447.00 9,862.52 9,662.73 10,412.59 10,980.45 103.58\nProfit (loss) per share (Yen)\n(Dollars) (183.59) 353.49 137.40 853.87 1,162.30 10.96\nDiluted profit per share (Yen)\n(Dollars)\n– – – –\n―\n–\nCapital adequacy ratio\n(%) 85.60 86.29 89.50 85.15 80.74 –\nReturn on equity (ROE)\n(%) – 3.66 1.42 8.51 10.86 –\nPrice earnings ratio (PER)\n(Times) – 50.00 116.45 30.26 40.32 –\nNet cash provided by (used in)\noperating activities\n(Millions of yen)\n(Millions of dollars)\n(23,114) 60,293 55,190 19,101 152,208 1,435\nNet cash provided by (used in)\ninvesting activities\n(Millions of yen)\n(Millions of dollars)\n(20,084) (105,394) (71,740) 69,518 61,387 579\nNet cash provided by (used in)\nfinancing activities\n(Millions of yen)\n(Millions of dollars)\n(127,163) (11,916) (2,996) (14,435) (61,311) (578)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥341,266 ¥281,539 ¥258,095 ¥330,974 ¥484,480 USD 4,570\nNumber of employees\n[Separately, average number of\ntemporary employees] (Persons)\n5,213\n[717]\n5,120\n[667]\n5,064\n[633]\n5,166\n[622]\n5,501\n[529]\n–\n[–]\n(Notes) 1. Net sales do not include consumption taxes.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\n3.\n“Return on equity” and “Price earnings ratio” for the 74th fiscal year are not noted because the Company recorded net loss attributable to owners of parent in the 74th fiscal year.\n- 2 -\n2. Description of business\nIn the field of home entertainment, Nintendo Co., Ltd., its subsidiaries and associates (composed of 26 subsidiaries\nand five associates as of March 31, 2018), primarily engage in the development, manufacture and sale of\nentertainment products. Nintendo’s major products are categorized into computer-enhanced “dedicated video game\nplatforms,\n” playing cards, Karuta and other products. “Dedicated video game platforms” are defined as hardware\nand software for the handheld systems and home consoles developed by Nintendo Co., Ltd. and its subsidiaries and\nassociates, manufactured by Nintendo Co., Ltd. and distributed primarily by its subsidiaries and associates in\nJapanese and overseas markets.\nThe positions of Nintendo Co., Ltd. and its main subsidiaries and associates are described below. Segment\ninformation is omitted as Nintendo operates as a single business segment.\n- Development\nNintendo Co., Ltd., Nintendo Technology Development Inc., Nintendo Software Technology Corporation, Retro\nStudios, Inc., Nintendo European Research and Development SAS, iQue (China) Ltd., ND CUBE Co., Ltd., 1-UP\nStudio Inc., MONOLITH SOFTWARE INC., Mario Club Co., Ltd.\n- Manufacture\nNintendo Co., Ltd.\n- Sale\nNintendo Co., Ltd., Nintendo of America Inc., Nintendo of Canada Ltd., Nintendo of Europe GmbH, Nintendo\nFrance S.A.R.L., Nintendo Benelux B.V., Nintendo Ibérica, S.A., Nintendo Australia Pty Limited, Nintendo RU\nLLC., Nintendo of Korea Co., Ltd., Nintendo (Hong Kong) Limited, Nintendo Sales Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_revenue_growth",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales: 1055682m, prior year: 489095m",
      "golden_context": "Page 4-5:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 74th 2014 75th 2015 76th 2016 77th 2017 78th\n2018\nNet sales (Millions of yen)\n(Millions of dollars)\n¥571,726 ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 USD 9,959\nOperating profit (loss)\n(Millions of yen)\n(Millions of dollars)\n(46,425) 24,770 32,881 29,362 177,557 1,675\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n6,086 70,530 28,790 50,364 199,356 1,880\nProfit (loss) attributable to\nowners of parent\n(Millions of yen)\n(Millions of dollars)\n(23,222) 41,843 16,505 102,574 139,590 1,316\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n17,971 59,373 (3,689) 104,525 134,090 1,265\nNet assets (Millions of yen)\n(Millions of dollars) 1,118,438 1,167,556 1,160,901 1,250,972 1,323,574 12,486\nTotal assets (Millions of yen)\n(Millions of dollars) 1,306,410 1,352,944 1,296,902 1,468,978 1,633,748 15,412\nNet assets per share (Yen)\n(Dollars) 9,447.00 9,862.52 9,662.73 10,412.59 10,980.45 103.58\nProfit (loss) per share (Yen)\n(Dollars) (183.59) 353.49 137.40 853.87 1,162.30 10.96\nDiluted profit per share (Yen)\n(Dollars)\n– – – –\n―\n–\nCapital adequacy ratio\n(%) 85.60 86.29 89.50 85.15 80.74 –\nReturn on equity (ROE)\n(%) – 3.66 1.42 8.51 10.86 –\nPrice earnings ratio (PER)\n(Times) – 50.00 116.45 30.26 40.32 –\nNet cash provided by (used in)\noperating activities\n(Millions of yen)\n(Millions of dollars)\n(23,114) 60,293 55,190 19,101 152,208 1,435\nNet cash provided by (used in)\ninvesting activities\n(Millions of yen)\n(Millions of dollars)\n(20,084) (105,394) (71,740) 69,518 61,387 579\nNet cash provided by (used in)\nfinancing activities\n(Millions of yen)\n(Millions of dollars)\n(127,163) (11,916) (2,996) (14,435) (61,311) (578)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥341,266 ¥281,539 ¥258,095 ¥330,974 ¥484,480 USD 4,570\nNumber of employees\n[Separately, average number of\ntemporary employees] (Persons)\n5,213\n[717]\n5,120\n[667]\n5,064\n[633]\n5,166\n[622]\n5,501\n[529]\n–\n[–]\n(Notes) 1. Net sales do not include consumption taxes.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\n3.\n“Return on equity” and “Price earnings ratio” for the 74th fiscal year are not noted because the Company recorded net loss attributable to owners of parent in the 74th fiscal year.\n- 2 -\n2. Description of business\nIn the field of home entertainment, Nintendo Co., Ltd., its subsidiaries and associates (composed of 26 subsidiaries\nand five associates as of March 31, 2018), primarily engage in the development, manufacture and sale of\nentertainment products. Nintendo’s major products are categorized into computer-enhanced “dedicated video game\nplatforms,\n” playing cards, Karuta and other products. “Dedicated video game platforms” are defined as hardware\nand software for the handheld systems and home consoles developed by Nintendo Co., Ltd. and its subsidiaries and\nassociates, manufactured by Nintendo Co., Ltd. and distributed primarily by its subsidiaries and associates in\nJapanese and overseas markets.\nThe positions of Nintendo Co., Ltd. and its main subsidiaries and associates are described below. Segment\ninformation is omitted as Nintendo operates as a single business segment.\n- Development\nNintendo Co., Ltd., Nintendo Technology Development Inc., Nintendo Software Technology Corporation, Retro\nStudios, Inc., Nintendo European Research and Development SAS, iQue (China) Ltd., ND CUBE Co., Ltd., 1-UP\nStudio Inc., MONOLITH SOFTWARE INC., Mario Club Co., Ltd.\n- Manufacture\nNintendo Co., Ltd.\n- Sale\nNintendo Co., Ltd., Nintendo of America Inc., Nintendo of Canada Ltd., Nintendo of Europe GmbH, Nintendo\nFrance S.A.R.L., Nintendo Benelux B.V., Nintendo Ibérica, S.A., Nintendo Australia Pty Limited, Nintendo RU\nLLC., Nintendo of Korea Co., Ltd., Nintendo (Hong Kong) Limited, Nintendo Sales Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000433_segments",
      "report_id": "ID_000433",
      "company_name": "Nintendo",
      "year": 2018,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s business is engaged in one segment of the broad entertainment field",
      "golden_context": "Page 9:\n\nfinancial reporting purposes.\n(2) Risks around business activities\n• Fluctuation of market environment and competition against other companies\nNintendo’s business is engaged in one segment of the broad entertainment field. However, its business can be\naffected by trends in other segments of the entertainment field. If consumer preferences shift to other forms of\nentertainment, the video game market may shrink. The emergence of new competitors resulting from\ntechnological innovation could have a detrimental impact as well.\nIn the video game industry, it may become even more difficult to be profitable due to large investments\nrequired in research and development, and marketing. In addition, competition may intensify with large-scale\ncompanies doing business in the same industry or in other segments of the entertainment field. As a result,\nNintendo may experience difficulty in maintaining or expanding its market share as well as sustaining\nprofitability.\nFurthermore, Nintendo may face rapid structural changes or the imposition of new laws and regulations and,\nif unable to adapt to such changes, be affected in terms of its business and performance.\n• Development of new products\nAlthough Nintendo continuously makes efforts to develop innovative and attractive products in the field of\ncomputer entertainment, the development process is complicated and includes many uncertainties. The\nvarious risks involved are as follows:\na. Despite the substantial costs and time needed for development of software for dedicated video game\nplatforms and applications for smart device gaming services, there is no guarantee that all new products\nand services will be accepted by consumers due to ever shifting consumer preferences. Also, development\nof certain products may be suspended or aborted.\nb. While development of hardware is time-consuming, with technology continuously advancing, the\nC",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_cash_flow",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 170529m, investing: 45353m, financing: -109037m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 75th 2015 76th 2016 77th 2017 78th 2018 79th\n2019\nNet sales (Millions of yen)\n(Millions of dollars) ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 USD 10,914\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n24,770 32,881 29,362 177,557 249,701 2,270\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n70,530 28,790 50,364 199,356 277,355 2,521\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n41,843 16,505 102,574 139,590 194,009 1,763\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n59,373 (3,689) 104,525 134,090 200,341 1,821\nNet assets (Millions of yen)\n(Millions of dollars) 1,167,556 1,160,901 1,250,972 1,323,574 1,414,798 12,861\nTotal assets (Millions of yen)\n(Millions of dollars) 1,352,944 1,296,902 1,468,452 1,633,474 1,690,304 15,366\nNet assets per share (Yen)\n(Dollars) 9,862.52 9,662.73 10,412.59 10,980.45 11,833.91 107\nProfit per share (Yen)\n(Dollars)\n353.49 137.40 853.87 1,162.30 1,615.51 14\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 86.29 89.50 85.15 80.75 83.40 -\nReturn on equity (ROE)\n(%) 3.66 1.42 8.51 10.86 14.22 -\nPrice earnings ratio (PER)\n(Times) 50.00 116.45 30.26 40.32 19.54 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n60,293 55,190 19,101 152,208 170,529 1,550\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(105,394) (71,740) 69,518 61,387 45,353 412\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(11,916) (2,996) (14,435) (61,311) (109,037) (991)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥281,539 ¥258,095 ¥330,974 ¥484,480 ¥585,378 USD 5,321\nNumber of employees (Persons) 5,120 5,064 5,166 5,501 5,944 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_company_type",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2019\nfor the fiscal year ended March 31, 2019\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_key_financials",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 1200560m, operating profit: 249701m, ordinary profit: 277355m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 75th 2015 76th 2016 77th 2017 78th 2018 79th\n2019\nNet sales (Millions of yen)\n(Millions of dollars) ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 USD 10,914\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n24,770 32,881 29,362 177,557 249,701 2,270\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n70,530 28,790 50,364 199,356 277,355 2,521\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n41,843 16,505 102,574 139,590 194,009 1,763\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n59,373 (3,689) 104,525 134,090 200,341 1,821\nNet assets (Millions of yen)\n(Millions of dollars) 1,167,556 1,160,901 1,250,972 1,323,574 1,414,798 12,861\nTotal assets (Millions of yen)\n(Millions of dollars) 1,352,944 1,296,902 1,468,452 1,633,474 1,690,304 15,366\nNet assets per share (Yen)\n(Dollars) 9,862.52 9,662.73 10,412.59 10,980.45 11,833.91 107\nProfit per share (Yen)\n(Dollars)\n353.49 137.40 853.87 1,162.30 1,615.51 14\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 86.29 89.50 85.15 80.75 83.40 -\nReturn on equity (ROE)\n(%) 3.66 1.42 8.51 10.86 14.22 -\nPrice earnings ratio (PER)\n(Times) 50.00 116.45 30.26 40.32 19.54 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n60,293 55,190 19,101 152,208 170,529 1,550\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(105,394) (71,740) 69,518 61,387 45,353 412\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(11,916) (2,996) (14,435) (61,311) (109,037) (991)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥281,539 ¥258,095 ¥330,974 ¥484,480 ¥585,378 USD 5,321\nNumber of employees (Persons) 5,120 5,064 5,166 5,501 5,944 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_revenue",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "1200560m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 75th 2015 76th 2016 77th 2017 78th 2018 79th\n2019\nNet sales (Millions of yen)\n(Millions of dollars) ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 USD 10,914\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n24,770 32,881 29,362 177,557 249,701 2,270\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n70,530 28,790 50,364 199,356 277,355 2,521\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n41,843 16,505 102,574 139,590 194,009 1,763\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n59,373 (3,689) 104,525 134,090 200,341 1,821\nNet assets (Millions of yen)\n(Millions of dollars) 1,167,556 1,160,901 1,250,972 1,323,574 1,414,798 12,861\nTotal assets (Millions of yen)\n(Millions of dollars) 1,352,944 1,296,902 1,468,452 1,633,474 1,690,304 15,366\nNet assets per share (Yen)\n(Dollars) 9,862.52 9,662.73 10,412.59 10,980.45 11,833.91 107\nProfit per share (Yen)\n(Dollars)\n353.49 137.40 853.87 1,162.30 1,615.51 14\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 86.29 89.50 85.15 80.75 83.40 -\nReturn on equity (ROE)\n(%) 3.66 1.42 8.51 10.86 14.22 -\nPrice earnings ratio (PER)\n(Times) 50.00 116.45 30.26 40.32 19.54 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n60,293 55,190 19,101 152,208 170,529 1,550\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(105,394) (71,740) 69,518 61,387 45,353 412\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(11,916) (2,996) (14,435) (61,311) (109,037) (991)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥281,539 ¥258,095 ¥330,974 ¥484,480 ¥585,378 USD 5,321\nNumber of employees (Persons) 5,120 5,064 5,166 5,501 5,944 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_revenue_growth",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "1200560m, prior year: 1055682m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 75th 2015 76th 2016 77th 2017 78th 2018 79th\n2019\nNet sales (Millions of yen)\n(Millions of dollars) ¥549,780 ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 USD 10,914\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n24,770 32,881 29,362 177,557 249,701 2,270\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n70,530 28,790 50,364 199,356 277,355 2,521\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n41,843 16,505 102,574 139,590 194,009 1,763\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n59,373 (3,689) 104,525 134,090 200,341 1,821\nNet assets (Millions of yen)\n(Millions of dollars) 1,167,556 1,160,901 1,250,972 1,323,574 1,414,798 12,861\nTotal assets (Millions of yen)\n(Millions of dollars) 1,352,944 1,296,902 1,468,452 1,633,474 1,690,304 15,366\nNet assets per share (Yen)\n(Dollars) 9,862.52 9,662.73 10,412.59 10,980.45 11,833.91 107\nProfit per share (Yen)\n(Dollars)\n353.49 137.40 853.87 1,162.30 1,615.51 14\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 86.29 89.50 85.15 80.75 83.40 -\nReturn on equity (ROE)\n(%) 3.66 1.42 8.51 10.86 14.22 -\nPrice earnings ratio (PER)\n(Times) 50.00 116.45 30.26 40.32 19.54 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n60,293 55,190 19,101 152,208 170,529 1,550\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(105,394) (71,740) 69,518 61,387 45,353 412\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(11,916) (2,996) (14,435) (61,311) (109,037) (991)\nCash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\n¥281,539 ¥258,095 ¥330,974 ¥484,480 ¥585,378 USD 5,321\nNumber of employees (Persons) 5,120 5,064 5,166 5,501 5,944 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000434_segments",
      "report_id": "ID_000434",
      "company_name": "Nintendo",
      "year": 2019,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s business is engaged in one segment of the broad entertainment field.",
      "golden_context": "Page 9:\n\nd below are the various risks that could significantly affect Nintendo’s operating results, share price and\nfinancial condition. However, unpredictable risks may exist other than the risks set forth herein.\nNote that matters pertaining to the future presented herein are determined by Nintendo as of the end of the fiscal\nyear ended March 31, 2019.\n(1) Risks around economic environment\n• Fluctuation in foreign exchange rates\nNintendo distributes its products globally with overseas sales accounting for more than 70% of its total sales.\nThe majority of monetary transactions are made in local currencies. In order to reduce the influence of\nfluctuations in foreign exchange rates, we have implemented measures such as increasing purchases in US\ndollars; however, it is difficult to eliminate the risks completely. In addition, the Company holds a substantial\namount of assets in foreign currencies. Thus, fluctuations in foreign exchange rates have a strong influence\nnot only when accounts in foreign currencies are converted to Japanese yen but also when they are revaluated\nfor financial reporting purposes.\n(2) Risks around business activities\n• Fluctuation of market environment and competition against other companies\nNintendo’s business is engaged in one segment of the broad entertainment field. However, its business can be\naffected by trends in other segments of the entertainment field. If consumer preferences shift to other forms of\nentertainment, the video game market may shrink. The emergence of new competitors resulting from\ntechnological innovation could have a detrimental impact as well.\nIn the video game industry, it may become even more difficult to be profitable due to large investments\nrequired in research and development, and marketing. In addition, competition may intensify with large-scale\ncompanies doing business in the same industry or in other segments of the entertainment field. As a result,\nNintendo may experience difficulty in maintaining or expanding its market share as well as sustaining\nprofitability.\nFurthermore, Nintendo may face rapid structural changes or the imposition of new laws and regulations and,\nif unable to adapt to such changes, be affected in terms of its business and performance.\n• Development of new products\nAlthough Nintendo continuously makes efforts to develop unique and attractive products in the field of\ncomputer entertainment, the development process is complicated and includes many uncertainties. The\nvarious risks involved are as follows:\na. Despite the substantial costs and time needed for development of software for dedicated video game\nplatforms and applications for smart-device gaming services, there is no guarantee that all new products\nand services will be accepted by consumers due to ever shifting consumer preferences. Also, development\nof certain products may be suspended or aborted.\nb. While development of hardware is time-consuming, with technology continuously advancing, the\nCompany may not be able to equip technologies required for entertainment. Furthermore, delays of\nhardware launches could adversely affect market share.\nc. Due to the nature of Nintendo products and services, it may become difficult to develop, sell or launch the\nproducts and services as planned and the original plan could differ to a large extent.\n• Product valuation and adequate inventory procurement\nProducts in the video game",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_cash_flow",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 347753m, investing: -188433m, financing: -111031m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 76th 2016 77th 2017 78th 2018 79th 2019 80th\n2020\nNet sales (Millions of yen)\n(Millions of dollars) ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 USD 12,115\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n32,881 29,362 177,557 249,701 352,370 3,262\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n28,790 50,364 199,356 277,355 360,461 3,337\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n16,505 102,574 139,590 194,009 258,641 2,394\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n(3,689) 104,525 134,090 200,341 236,490 2,189\nNet assets (Millions of yen)\n(Millions of dollars) 1,160,901 1,250,972 1,323,574 1,414,798 1,540,900 14,267\nTotal assets (Millions of yen)\n(Millions of dollars) 1,296,902 1,468,452 1,633,474 1,690,304 1,934,087 17,908\nNet assets per share (Yen)\n(Dollars) 9,662.73 10,412.59 10,980.45 11,833.91 12,933.51 119\nProfit per share (Yen)\n(Dollars) 137.40 853.87 1,162.30 1,615.51 2,171.20 20\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 89.50 85.15 80.75 83.40 79.66 -\nReturn on equity (ROE)\n(%) 1.42 8.51 10.86 14.22 17.53 -\nPrice earnings ratio (PER)\n(Times) 116.45 30.26 40.32 19.54 19.16 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n55,190 19,101 152,208 170,529 347,753 3,219\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(71,740) 69,518 61,387 45,353 (188,433) (1,744)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(2,996) (14,435) (61,311) (109,037) (111,031) (1,028)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥258,095 ¥330,974 ¥484,480 ¥585,378 ¥621,402 USD 5,753\n(Millions of dollars)\nNumber of employees (Persons) 5,064 5,166 5,501 5,944 6,200 (Notes) 1. -\nNet sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_company_type",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2020\nfor the fiscal year ended March 31, 2020\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_key_financials",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1308519m, operating profit: 352370m, ordinary profit: 360461m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 76th 2016 77th 2017 78th 2018 79th 2019 80th\n2020\nNet sales (Millions of yen)\n(Millions of dollars) ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 USD 12,115\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n32,881 29,362 177,557 249,701 352,370 3,262\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n28,790 50,364 199,356 277,355 360,461 3,337\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n16,505 102,574 139,590 194,009 258,641 2,394\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n(3,689) 104,525 134,090 200,341 236,490 2,189\nNet assets (Millions of yen)\n(Millions of dollars) 1,160,901 1,250,972 1,323,574 1,414,798 1,540,900 14,267\nTotal assets (Millions of yen)\n(Millions of dollars) 1,296,902 1,468,452 1,633,474 1,690,304 1,934,087 17,908\nNet assets per share (Yen)\n(Dollars) 9,662.73 10,412.59 10,980.45 11,833.91 12,933.51 119\nProfit per share (Yen)\n(Dollars) 137.40 853.87 1,162.30 1,615.51 2,171.20 20\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 89.50 85.15 80.75 83.40 79.66 -\nReturn on equity (ROE)\n(%) 1.42 8.51 10.86 14.22 17.53 -\nPrice earnings ratio (PER)\n(Times) 116.45 30.26 40.32 19.54 19.16 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n55,190 19,101 152,208 170,529 347,753 3,219\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(71,740) 69,518 61,387 45,353 (188,433) (1,744)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(2,996) (14,435) (61,311) (109,037) (111,031) (1,028)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥258,095 ¥330,974 ¥484,480 ¥585,378 ¥621,402 USD 5,753\n(Millions of dollars)\nNumber of employees (Persons) 5,064 5,166 5,501 5,944 6,200 (Notes) 1. -\nNet sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_revenue",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales: 1308519m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 76th 2016 77th 2017 78th 2018 79th 2019 80th\n2020\nNet sales (Millions of yen)\n(Millions of dollars) ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 USD 12,115\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n32,881 29,362 177,557 249,701 352,370 3,262\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n28,790 50,364 199,356 277,355 360,461 3,337\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n16,505 102,574 139,590 194,009 258,641 2,394\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n(3,689) 104,525 134,090 200,341 236,490 2,189\nNet assets (Millions of yen)\n(Millions of dollars) 1,160,901 1,250,972 1,323,574 1,414,798 1,540,900 14,267\nTotal assets (Millions of yen)\n(Millions of dollars) 1,296,902 1,468,452 1,633,474 1,690,304 1,934,087 17,908\nNet assets per share (Yen)\n(Dollars) 9,662.73 10,412.59 10,980.45 11,833.91 12,933.51 119\nProfit per share (Yen)\n(Dollars) 137.40 853.87 1,162.30 1,615.51 2,171.20 20\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 89.50 85.15 80.75 83.40 79.66 -\nReturn on equity (ROE)\n(%) 1.42 8.51 10.86 14.22 17.53 -\nPrice earnings ratio (PER)\n(Times) 116.45 30.26 40.32 19.54 19.16 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n55,190 19,101 152,208 170,529 347,753 3,219\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(71,740) 69,518 61,387 45,353 (188,433) (1,744)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(2,996) (14,435) (61,311) (109,037) (111,031) (1,028)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥258,095 ¥330,974 ¥484,480 ¥585,378 ¥621,402 USD 5,753\n(Millions of dollars)\nNumber of employees (Persons) 5,064 5,166 5,501 5,944 6,200 (Notes) 1. -\nNet sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_revenue_growth",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales: 1308519m, prior year: 1200560m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 76th 2016 77th 2017 78th 2018 79th 2019 80th\n2020\nNet sales (Millions of yen)\n(Millions of dollars) ¥504,459 ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 USD 12,115\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n32,881 29,362 177,557 249,701 352,370 3,262\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n28,790 50,364 199,356 277,355 360,461 3,337\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n16,505 102,574 139,590 194,009 258,641 2,394\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n(3,689) 104,525 134,090 200,341 236,490 2,189\nNet assets (Millions of yen)\n(Millions of dollars) 1,160,901 1,250,972 1,323,574 1,414,798 1,540,900 14,267\nTotal assets (Millions of yen)\n(Millions of dollars) 1,296,902 1,468,452 1,633,474 1,690,304 1,934,087 17,908\nNet assets per share (Yen)\n(Dollars) 9,662.73 10,412.59 10,980.45 11,833.91 12,933.51 119\nProfit per share (Yen)\n(Dollars) 137.40 853.87 1,162.30 1,615.51 2,171.20 20\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 89.50 85.15 80.75 83.40 79.66 -\nReturn on equity (ROE)\n(%) 1.42 8.51 10.86 14.22 17.53 -\nPrice earnings ratio (PER)\n(Times) 116.45 30.26 40.32 19.54 19.16 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n55,190 19,101 152,208 170,529 347,753 3,219\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(71,740) 69,518 61,387 45,353 (188,433) (1,744)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(2,996) (14,435) (61,311) (109,037) (111,031) (1,028)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥258,095 ¥330,974 ¥484,480 ¥585,378 ¥621,402 USD 5,753\n(Millions of dollars)\nNumber of employees (Persons) 5,064 5,166 5,501 5,944 6,200 (Notes) 1. -\nNet sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000435_segments",
      "report_id": "ID_000435",
      "company_name": "Nintendo",
      "year": 2020,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "single operating segment",
      "golden_context": "Page 73:\n\nSegment information, etc.\nSegment information\nThe main business of Nintendo is developing, manufacturing, and distributing handheld and home console hardware\nsystems and related software. Development and manufacturing of products for worldwide use are primarily done by\nthe Company while distribution is done mainly by local subsidiaries. Nintendo operates as a single operating segment\nwith single distribution channel and market for Nintendo’s products and with each major subsidiary solely responsible\nfor distributing. Decision for allocation of the management resources and evaluation of business results are made on\na company-wide basis, not based on a product category or region basis. Therefore, segment information is omitted.\nRelated information\nPrevious fiscal year (From April 1, 2018 to March 31, 2019)\n1. Information about products and services\n(Millions of yen)\nNintendo 3DS Platform Nintendo Switch Platform Other Total\nSales to third parties 63,035 1,027,937 109,586 1,200,560\n2. Information by geographic areas\n(1) Net sales\n(Note) Net sales are categorized by country or region based on the location of the customer.\n(Millions of yen)\nJapan\nThe Americas\nfrom U.S.\nEurope ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_cash_flow",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 612106m, investing: -136533m, financing: -194938m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 77th 2017 78th 2018 79th 2019 80th 2020 81st\n2021\nNet sales (Millions of yen)\n(Millions of dollars) ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 USD 15,990\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n29,362 177,557 249,701 352,370 640,634 5,823\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n50,364 199,356 277,355 360,461 678,996 6,172\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n102,574 139,590 194,009 258,641 480,376 4,367\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n104,525 134,090 200,341 236,490 527,951 4,799\nNet assets (Millions of yen)\n(Millions of dollars) 1,250,972 1,323,574 1,414,798 1,540,900 1,874,614 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,468,452 1,633,474 1,690,304 1,934,087 2,446,918 22,244\nNet assets per share (Yen)\n(Dollars) 10,412.59 10,980.45 11,833.91 12,933.51 15,734.79 143\nProfit per share (Yen)\n(Dollars) 853.87 1,162.30 1,615.51 2,171.20 4,032.60 36\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 85.15 80.75 83.40 79.66 76.60 -\nReturn on equity (ROE)\n(%) 8.51 10.86 14.22 17.53 28.13 -\nPrice earnings ratio (PER)\n(Times) 30.26 40.32 19.54 19.16 15.33 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n19,101 152,208 170,529 347,753 612,106 5,564\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n69,518 61,387 45,353 (188,433) (136,533) (1,241)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(14,435) (61,311) (109,037) (111,031) (194,938) (1,772)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥330,974 ¥484,480 ¥585,378 ¥621,402 ¥932,079 USD 8,473\n(Millions of dollars)\nNumber of employees (Persons) 5,166 5,501 5,944 6,200 6,574 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_company_type",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2021\nfor the fiscal year ended March 31, 2021\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_key_financials",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1758910m, operating profit: 640634m, ordinary profit: 678996m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 77th 2017 78th 2018 79th 2019 80th 2020 81st\n2021\nNet sales (Millions of yen)\n(Millions of dollars) ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 USD 15,990\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n29,362 177,557 249,701 352,370 640,634 5,823\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n50,364 199,356 277,355 360,461 678,996 6,172\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n102,574 139,590 194,009 258,641 480,376 4,367\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n104,525 134,090 200,341 236,490 527,951 4,799\nNet assets (Millions of yen)\n(Millions of dollars) 1,250,972 1,323,574 1,414,798 1,540,900 1,874,614 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,468,452 1,633,474 1,690,304 1,934,087 2,446,918 22,244\nNet assets per share (Yen)\n(Dollars) 10,412.59 10,980.45 11,833.91 12,933.51 15,734.79 143\nProfit per share (Yen)\n(Dollars) 853.87 1,162.30 1,615.51 2,171.20 4,032.60 36\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 85.15 80.75 83.40 79.66 76.60 -\nReturn on equity (ROE)\n(%) 8.51 10.86 14.22 17.53 28.13 -\nPrice earnings ratio (PER)\n(Times) 30.26 40.32 19.54 19.16 15.33 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n19,101 152,208 170,529 347,753 612,106 5,564\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n69,518 61,387 45,353 (188,433) (136,533) (1,241)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(14,435) (61,311) (109,037) (111,031) (194,938) (1,772)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥330,974 ¥484,480 ¥585,378 ¥621,402 ¥932,079 USD 8,473\n(Millions of dollars)\nNumber of employees (Persons) 5,166 5,501 5,944 6,200 6,574 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_revenue",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 1758910m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 77th 2017 78th 2018 79th 2019 80th 2020 81st\n2021\nNet sales (Millions of yen)\n(Millions of dollars) ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 USD 15,990\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n29,362 177,557 249,701 352,370 640,634 5,823\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n50,364 199,356 277,355 360,461 678,996 6,172\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n102,574 139,590 194,009 258,641 480,376 4,367\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n104,525 134,090 200,341 236,490 527,951 4,799\nNet assets (Millions of yen)\n(Millions of dollars) 1,250,972 1,323,574 1,414,798 1,540,900 1,874,614 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,468,452 1,633,474 1,690,304 1,934,087 2,446,918 22,244\nNet assets per share (Yen)\n(Dollars) 10,412.59 10,980.45 11,833.91 12,933.51 15,734.79 143\nProfit per share (Yen)\n(Dollars) 853.87 1,162.30 1,615.51 2,171.20 4,032.60 36\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 85.15 80.75 83.40 79.66 76.60 -\nReturn on equity (ROE)\n(%) 8.51 10.86 14.22 17.53 28.13 -\nPrice earnings ratio (PER)\n(Times) 30.26 40.32 19.54 19.16 15.33 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n19,101 152,208 170,529 347,753 612,106 5,564\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n69,518 61,387 45,353 (188,433) (136,533) (1,241)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(14,435) (61,311) (109,037) (111,031) (194,938) (1,772)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥330,974 ¥484,480 ¥585,378 ¥621,402 ¥932,079 USD 8,473\n(Millions of dollars)\nNumber of employees (Persons) 5,166 5,501 5,944 6,200 6,574 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_revenue_growth",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 1758910m, prior year: 1308519m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year Fiscal year ended March 31 77th 2017 78th 2018 79th 2019 80th 2020 81st\n2021\nNet sales (Millions of yen)\n(Millions of dollars) ¥489,095 ¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 USD 15,990\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n29,362 177,557 249,701 352,370 640,634 5,823\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n50,364 199,356 277,355 360,461 678,996 6,172\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n102,574 139,590 194,009 258,641 480,376 4,367\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n104,525 134,090 200,341 236,490 527,951 4,799\nNet assets (Millions of yen)\n(Millions of dollars) 1,250,972 1,323,574 1,414,798 1,540,900 1,874,614 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,468,452 1,633,474 1,690,304 1,934,087 2,446,918 22,244\nNet assets per share (Yen)\n(Dollars) 10,412.59 10,980.45 11,833.91 12,933.51 15,734.79 143\nProfit per share (Yen)\n(Dollars) 853.87 1,162.30 1,615.51 2,171.20 4,032.60 36\nDiluted profit per share (Yen)\n(Dollars) - - - - - -\nCapital adequacy ratio\n(%) 85.15 80.75 83.40 79.66 76.60 -\nReturn on equity (ROE)\n(%) 8.51 10.86 14.22 17.53 28.13 -\nPrice earnings ratio (PER)\n(Times) 30.26 40.32 19.54 19.16 15.33 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n19,101 152,208 170,529 347,753 612,106 5,564\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n69,518 61,387 45,353 (188,433) (136,533) (1,241)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(14,435) (61,311) (109,037) (111,031) (194,938) (1,772)\nCash and cash equivalents at\nend of period (Millions of yen)\n¥330,974 ¥484,480 ¥585,378 ¥621,402 ¥932,079 USD 8,473\n(Millions of dollars)\nNumber of employees (Persons) 5,166 5,501 5,944 6,200 6,574 -\n(Notes) 1. Net sales do not include consumption taxes. 2. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares. 3. Effective beginning the 79th fiscal year, the Company has adopted the “Partial Amendments to Accounting Standard\nfor Tax Effect Accounting, etc. (Accounting Standards Board of Japan (ASBJ) Guidance No.28 of February 16,\n2018).” The accounting standard has been retrospectively applied to the major management indicators for the 78th\nfiscal year and earlier.\n- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000436_segments",
      "report_id": "ID_000436",
      "company_name": "Nintendo",
      "year": 2021,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s business is engaged in one segment of the broad entertainment field",
      "golden_context": "Page 11:\n\nNintendo's financial position, operating results and cash flows could be adversely affected.\nIn order to reduce the influence of fluctuations in foreign exchange rates, Nintendo purchases in foreign\ncurrencies on an ongoing basis.\n(2) Risks around business activities\n• Fluctuation of market environment and competition against other companies\nNintendo’s business is engaged in one segment of the broad entertainment field. However, its business can be\naffected by trends in other segments of the entertainment field. If consumer preferences shift to other forms of\nentertainment, the video game market may shrink. The emergence of new competitors resulting from\ntechnological innovation could have a detrimental impact as well.\nIn the video game industry, it may become even more difficult to be profitable due to large investments required\nin research and development, and marketing. In addition, competition may intensify with large-scale companies\ndoing business in the same industry or in other segments of the entertainment field. Furthermore, if Nintendo is\nunable to adapt to rapid structural changes or other changes, its financial position, operating results and cash\nflows could be adversely affected.\nAs an entertainment company that creates smiles, the Company group aims to offer its unique and original brand\nof play that anyone and everyone can intuitively enjoy. To enable unique entertainment experiences, we place\nour dedicated video game platform business – integrating both hardware and software – at the center of\neverything we do, and work to provide new and original products and services for people everywhere. To\ncontinue growing our core business, the Company group’s fundamental strategy is to expand the number of\npeople who have access to Nintendo IP. To this end, we seek to broaden the touch points of Nintendo IP with\nconsumers in areas beyond dedicated video game platforms and create opportunities for more people to become\ninterested in gaming experiences. In addition, we work to develop a long-term relationship with each of our\nconsumers through Nintendo Account.\n• Development of new products\nDespite the substantial costs and time needed for development of software for dedicated video game platforms\nand applications for smart-device gaming services, there is no guarantee that all new products and services will\nbe accepted by consumers due to ever shifting preferences.\nAs development of hardware is time-consuming, with technology continuously advancing, the Company may\nnot be able to prepare technologies required for entertainment. Furthermore, delays of hardware launches could\nadversely affect market share.\nFurthermore, due to the nature of Nintendo products and services, it may become difficult to develop, sell or\nlaunch the products and services as planned, development may be suspended or aborted, and the original plan\ncould differ to a large extent.\nIn the field of computer entertainment, the development process is complicated and includes many uncertainties;\ntherefore, if Nintendo is unable to deal with the above risks, its financial position, operating results and cash\nflows could be ad",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_cash_flow",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 289661m, investing: 93699m, financing: -337010m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 78th 79th 80th 81st 82nd\nFiscal year ended March 31 2018 2019 2020 2021 2022\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 USD 14,011\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n177,557 249,701 352,370 640,634 592,760 4,898\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n199,356 277,355 360,461 678,996 670,813 5,543\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n139,590 194,009 258,641 480,376 477,691 3,947\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n134,090 200,341 236,490 527,951 530,498 4,384\nNet assets (Millions of yen)\n(Millions of dollars) 1,323,574 1,414,798 1,540,900 1,874,614 2,069,310 17,101\nTotal assets (Millions of yen)\n(Millions of dollars) 1,633,474 1,690,304 1,934,087 2,446,918 2,662,384 22,003\nNet assets per share (Yen)\n(Dollars) 10,980.45 11,833.91 12,933.51 15,734.79 17,635.60 145\nProfit per share (Yen)\n(Dollars) 1,162.30 1,615.51 2,171.20 4,032.60 4,046.69 33\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 80.75 83.40 79.66 76.60 77.71 -\nReturn on equity (ROE)\n(%) 10.86 14.22 17.53 28.13 24.23 -\nPrice earnings ratio (PER)\n(Times) 40.32 19.54 19.16 15.33 15.24 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n152,208 170,529 347,753 612,106 289,661 2,393\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n61,387 45,353 (188,433) (136,533) 93,699 774\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(61,311) (109,037) (111,031) (194,938) (337,010) (2,785)\n¥484,480 ¥585,378 ¥621,402 ¥932,079 ¥1,022,718 USD 8,452\n5,944 6,200 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,501 6,574 6,717 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_company_type",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd.",
      "golden_context": "Page 1:\n\nAnnual Report 2022\nfor the fiscal year ended March 31, 2022\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_key_financials",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1695344m, operating profit: 592760m, ordinary profit: 670813m, operating: 289661m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 78th 79th 80th 81st 82nd\nFiscal year ended March 31 2018 2019 2020 2021 2022\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 USD 14,011\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n177,557 249,701 352,370 640,634 592,760 4,898\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n199,356 277,355 360,461 678,996 670,813 5,543\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n139,590 194,009 258,641 480,376 477,691 3,947\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n134,090 200,341 236,490 527,951 530,498 4,384\nNet assets (Millions of yen)\n(Millions of dollars) 1,323,574 1,414,798 1,540,900 1,874,614 2,069,310 17,101\nTotal assets (Millions of yen)\n(Millions of dollars) 1,633,474 1,690,304 1,934,087 2,446,918 2,662,384 22,003\nNet assets per share (Yen)\n(Dollars) 10,980.45 11,833.91 12,933.51 15,734.79 17,635.60 145\nProfit per share (Yen)\n(Dollars) 1,162.30 1,615.51 2,171.20 4,032.60 4,046.69 33\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 80.75 83.40 79.66 76.60 77.71 -\nReturn on equity (ROE)\n(%) 10.86 14.22 17.53 28.13 24.23 -\nPrice earnings ratio (PER)\n(Times) 40.32 19.54 19.16 15.33 15.24 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n152,208 170,529 347,753 612,106 289,661 2,393\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n61,387 45,353 (188,433) (136,533) 93,699 774\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(61,311) (109,037) (111,031) (194,938) (337,010) (2,785)\n¥484,480 ¥585,378 ¥621,402 ¥932,079 ¥1,022,718 USD 8,452\n5,944 6,200 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,501 6,574 6,717 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_revenue",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 1695344m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 78th 79th 80th 81st 82nd\nFiscal year ended March 31 2018 2019 2020 2021 2022\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 USD 14,011\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n177,557 249,701 352,370 640,634 592,760 4,898\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n199,356 277,355 360,461 678,996 670,813 5,543\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n139,590 194,009 258,641 480,376 477,691 3,947\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n134,090 200,341 236,490 527,951 530,498 4,384\nNet assets (Millions of yen)\n(Millions of dollars) 1,323,574 1,414,798 1,540,900 1,874,614 2,069,310 17,101\nTotal assets (Millions of yen)\n(Millions of dollars) 1,633,474 1,690,304 1,934,087 2,446,918 2,662,384 22,003\nNet assets per share (Yen)\n(Dollars) 10,980.45 11,833.91 12,933.51 15,734.79 17,635.60 145\nProfit per share (Yen)\n(Dollars) 1,162.30 1,615.51 2,171.20 4,032.60 4,046.69 33\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 80.75 83.40 79.66 76.60 77.71 -\nReturn on equity (ROE)\n(%) 10.86 14.22 17.53 28.13 24.23 -\nPrice earnings ratio (PER)\n(Times) 40.32 19.54 19.16 15.33 15.24 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n152,208 170,529 347,753 612,106 289,661 2,393\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n61,387 45,353 (188,433) (136,533) 93,699 774\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(61,311) (109,037) (111,031) (194,938) (337,010) (2,785)\n¥484,480 ¥585,378 ¥621,402 ¥932,079 ¥1,022,718 USD 8,452\n5,944 6,200 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,501 6,574 6,717 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_revenue_growth",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 1695344m, prior year: 1758910m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 78th 79th 80th 81st 82nd\nFiscal year ended March 31 2018 2019 2020 2021 2022\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,055,682 ¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 USD 14,011\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n177,557 249,701 352,370 640,634 592,760 4,898\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n199,356 277,355 360,461 678,996 670,813 5,543\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n139,590 194,009 258,641 480,376 477,691 3,947\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n134,090 200,341 236,490 527,951 530,498 4,384\nNet assets (Millions of yen)\n(Millions of dollars) 1,323,574 1,414,798 1,540,900 1,874,614 2,069,310 17,101\nTotal assets (Millions of yen)\n(Millions of dollars) 1,633,474 1,690,304 1,934,087 2,446,918 2,662,384 22,003\nNet assets per share (Yen)\n(Dollars) 10,980.45 11,833.91 12,933.51 15,734.79 17,635.60 145\nProfit per share (Yen)\n(Dollars) 1,162.30 1,615.51 2,171.20 4,032.60 4,046.69 33\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 80.75 83.40 79.66 76.60 77.71 -\nReturn on equity (ROE)\n(%) 10.86 14.22 17.53 28.13 24.23 -\nPrice earnings ratio (PER)\n(Times) 40.32 19.54 19.16 15.33 15.24 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n152,208 170,529 347,753 612,106 289,661 2,393\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n61,387 45,353 (188,433) (136,533) 93,699 774\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(61,311) (109,037) (111,031) (194,938) (337,010) (2,785)\n¥484,480 ¥585,378 ¥621,402 ¥932,079 ¥1,022,718 USD 8,452\n5,944 6,200 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,501 6,574 6,717 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000437_segments",
      "report_id": "ID_000437",
      "company_name": "Nintendo",
      "year": 2022,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s business is engaged in one segment of the broad entertainment field",
      "golden_context": "Page 11:\n\nNintendo’s business is engaged in one segment of the broad entertainment field",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_cash_flow",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating: 322843m, investing: 111507m, financing: -290973m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 79th 80th 81st 82nd 83rd\nFiscal year ended March 31 2019 2020 2021 2022 2023\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 USD 12,042\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n249,701 352,370 640,634 592,760 504,375 3,792\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n277,355 360,461 678,996 670,813 601,070 4,519\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n194,009 258,641 480,376 477,691 432,768 3,253\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n200,341 236,490 527,951 530,498 486,661 3,659\nNet assets (Millions of yen)\n(Millions of dollars) 1,414,798 1,540,900 1,874,614 2,069,310 2,266,466 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,690,304 1,934,087 2,446,918 2,662,384 2,854,284 21,460\nNet assets per share (Yen)\n(Dollars)\n1,183.39 1,293.35 1,573.48 1,763.56 1,946.55 14\nProfit per share (Yen)\n(Dollars)\n161.55 217.12 403.26 404.67 371.41 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 83.40 79.66 76.60 77.71 79.40 -\nReturn on equity (ROE)\n(%) 14.22 17.53 28.13 24.23 19.96 -\nPrice earnings ratio (PER)\n(Times) 19.54 19.16 15.33 15.24 13.82 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n170,529 347,753 612,106 289,661 322,843 2,427\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n45,353 (188,433) (136,533) 93,699 111,507 838\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(109,037) (111,031) (194,938) (337,010) (290,973) (2,187)\n¥585,378 ¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 USD 8,981\n6,200 6,574 3. Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,944 6,717 7,317 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net assets per share and profit per share are calculated based on the assumption that the stock split was implemented at the beginning of the 79th fiscal year.- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_company_type",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2023\nfor the fiscal year ended March 31, 2023\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_key_financials",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1601677m, operating profit: 504375m, ordinary profit: 601070m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 79th 80th 81st 82nd 83rd\nFiscal year ended March 31 2019 2020 2021 2022 2023\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 USD 12,042\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n249,701 352,370 640,634 592,760 504,375 3,792\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n277,355 360,461 678,996 670,813 601,070 4,519\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n194,009 258,641 480,376 477,691 432,768 3,253\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n200,341 236,490 527,951 530,498 486,661 3,659\nNet assets (Millions of yen)\n(Millions of dollars) 1,414,798 1,540,900 1,874,614 2,069,310 2,266,466 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,690,304 1,934,087 2,446,918 2,662,384 2,854,284 21,460\nNet assets per share (Yen)\n(Dollars)\n1,183.39 1,293.35 1,573.48 1,763.56 1,946.55 14\nProfit per share (Yen)\n(Dollars)\n161.55 217.12 403.26 404.67 371.41 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 83.40 79.66 76.60 77.71 79.40 -\nReturn on equity (ROE)\n(%) 14.22 17.53 28.13 24.23 19.96 -\nPrice earnings ratio (PER)\n(Times) 19.54 19.16 15.33 15.24 13.82 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n170,529 347,753 612,106 289,661 322,843 2,427\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n45,353 (188,433) (136,533) 93,699 111,507 838\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(109,037) (111,031) (194,938) (337,010) (290,973) (2,187)\n¥585,378 ¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 USD 8,981\n6,200 6,574 3. Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,944 6,717 7,317 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net assets per share and profit per share are calculated based on the assumption that the stock split was implemented at the beginning of the 79th fiscal year.- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_revenue",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "net sales 1601677m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 79th 80th 81st 82nd 83rd\nFiscal year ended March 31 2019 2020 2021 2022 2023\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 USD 12,042\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n249,701 352,370 640,634 592,760 504,375 3,792\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n277,355 360,461 678,996 670,813 601,070 4,519\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n194,009 258,641 480,376 477,691 432,768 3,253\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n200,341 236,490 527,951 530,498 486,661 3,659\nNet assets (Millions of yen)\n(Millions of dollars) 1,414,798 1,540,900 1,874,614 2,069,310 2,266,466 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,690,304 1,934,087 2,446,918 2,662,384 2,854,284 21,460\nNet assets per share (Yen)\n(Dollars)\n1,183.39 1,293.35 1,573.48 1,763.56 1,946.55 14\nProfit per share (Yen)\n(Dollars)\n161.55 217.12 403.26 404.67 371.41 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 83.40 79.66 76.60 77.71 79.40 -\nReturn on equity (ROE)\n(%) 14.22 17.53 28.13 24.23 19.96 -\nPrice earnings ratio (PER)\n(Times) 19.54 19.16 15.33 15.24 13.82 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n170,529 347,753 612,106 289,661 322,843 2,427\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n45,353 (188,433) (136,533) 93,699 111,507 838\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(109,037) (111,031) (194,938) (337,010) (290,973) (2,187)\n¥585,378 ¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 USD 8,981\n6,200 6,574 3. Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,944 6,717 7,317 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net assets per share and profit per share are calculated based on the assumption that the stock split was implemented at the beginning of the 79th fiscal year.- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_revenue_growth",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "net sales 1601677m, prior year: 1695344m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 79th 80th 81st 82nd 83rd\nFiscal year ended March 31 2019 2020 2021 2022 2023\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,200,560 ¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 USD 12,042\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n249,701 352,370 640,634 592,760 504,375 3,792\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n277,355 360,461 678,996 670,813 601,070 4,519\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n194,009 258,641 480,376 477,691 432,768 3,253\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n200,341 236,490 527,951 530,498 486,661 3,659\nNet assets (Millions of yen)\n(Millions of dollars) 1,414,798 1,540,900 1,874,614 2,069,310 2,266,466 17,041\nTotal assets (Millions of yen)\n(Millions of dollars) 1,690,304 1,934,087 2,446,918 2,662,384 2,854,284 21,460\nNet assets per share (Yen)\n(Dollars)\n1,183.39 1,293.35 1,573.48 1,763.56 1,946.55 14\nProfit per share (Yen)\n(Dollars)\n161.55 217.12 403.26 404.67 371.41 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 83.40 79.66 76.60 77.71 79.40 -\nReturn on equity (ROE)\n(%) 14.22 17.53 28.13 24.23 19.96 -\nPrice earnings ratio (PER)\n(Times) 19.54 19.16 15.33 15.24 13.82 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n170,529 347,753 612,106 289,661 322,843 2,427\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n45,353 (188,433) (136,533) 93,699 111,507 838\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(109,037) (111,031) (194,938) (337,010) (290,973) (2,187)\n¥585,378 ¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 USD 8,981\n6,200 6,574 3. Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 5,944 6,717 7,317 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (which ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n“Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net assets per share and profit per share are calculated based on the assumption that the stock split was implemented at the beginning of the 79th fiscal year.- 2 -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000438_segments",
      "report_id": "ID_000438",
      "company_name": "Nintendo",
      "year": 2023,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s core business is engaged in one segment of the broader entertainment field. ",
      "golden_context": "Page 15:\n\nn order to reduce the influence of fluctuations in foreign exchange rates, Nintendo purchases in foreign\ncurrencies on an ongoing basis.\n(2) Risks around business activities\n• Fluctuation of market environment and competition against other companies\nNintendo’s core business is engaged in one segment of the broader entertainment field. However, its business\nis also affected by a variety of other entertainment trends. If consumer preferences shift to other forms of\nentertainment, the video game market may shrink. The emergence of new competitors resulting from\ntechnological innovation could have a significant impact as well. In the video game industry, it may become\neven more difficult to be profitable due to large investments required in research and development and\nmarketing. In addition, competition may intensify with large-scale companies doing business in the same\nindustry or in other segments of the entertainment industry. Furthermore, if Nintendo is unable to adapt to rapid\nstructural changes or other changes, its financial position, operating results and cash flows could be adversely\naffected.\nAs an entertainment company that creates smiles, the Company group aims to offer its unique and original brand\nof play that anyone and everyone can intuitively enjoy. To enable unique entertainment experiences, we place\nour dedicated video game platform business – integrating both hardware and software – at the center of\neverything we do, and work to provide new and original products and services for people everywhere. To\ncontinue growing our core business, the Company group’s fundamental strategy is to expand the number of\npeople who have access to Nintendo IP. To this end, we seek to broaden the touch points of Nintendo IP with\nconsumers in areas beyond dedicated video game platforms and create opportunities for more people to become\ninterested in gaming experiences. In addition, we work to develop a long-term relationship with each of our\nconsumers through Nintendo Account.\n• Development of new products\nDespite the substantial costs and time needed for development of software for dedicated video game platforms\nand applications for smart-device gaming services, there is no guarantee that all new products and services will\nbe accepted by consumers due to ever shifting preferences. As development of hardware is time-consuming,\nwith technology continuously advancing, Nintendo may not be able to readily acquire technologies required for\nentertainment. Furthermore, delays of product launches could adversely affect market share.\nIn addition, due to the nature of Nintendo products and services, it may be difficult to develop products and\nservices as planned in some cases, making it impossible to sell or launch the products and services as planned.\nMoreover, development may be suspended or aborted, and the original plan could differ to a large extent.\nIn the field of computer entertainment, the development process is complicated and includes many uncertainties;\ntherefore, if Nintendo is unable to deal with the above risks, its financial position, operating results and cash\nflows could be adversely affected.\nNintendo continuously strives to develop unique and attractive new products.\n• Product valuation and adequate inventory procurement\nGiven that general products in the video game industry have relatively short life cycles, and are significantly\nimpacted by consumer preferences as well as seasonality, excess inventory and obsolete inventory could have\nan adverse effect on Nintendo’s financial position, operating results and cash flows.\nBusiness opportunities could be missed if supply to the marke",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_cash_flow",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "operating:  462'097m, \ninvesting: -630'632m,\nfinancing: -236'958m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 80th 81st 82nd 83rd 84th\nFiscal year ended March 31 2020 2021 2022 2023 2024\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 ¥1,671,865 USD 11,071\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n352,370 640,634 592,760 504,375 528,941 3,502\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n360,461 678,996 670,813 601,070 680,497 4,506\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n258,641 480,376 477,691 432,768 490,602 3,249\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n236,490 527,951 530,498 486,661 573,849 3,800\nNet assets (Millions of yen)\n(Millions of dollars) 1,540,900 1,874,614 2,069,310 2,266,466 2,604,998 17,251\nTotal assets (Millions of yen)\n(Millions of dollars) 1,934,087 2,446,918 2,662,384 2,854,284 3,151,394 20,870\nNet assets per share (Yen)\n(Dollars) 1,293.35 1,573.48 1,763.56 1,946.55 2,236.45 14\nProfit per share (Yen)\n(Dollars)\n217.12 403.26 404.67 371.41 421.39 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 79.66 76.60 77.71 79.40 82.62 -\nReturn on equity (ROE)\n(%) 17.53 28.13 24.23 19.96 20.15 -\nPrice earnings ratio (PER)\n(Times) 19.16 15.33 15.24 13.82 19.45 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n347,753 612,106 289,661 322,843 462,097 3,060\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(188,433) (136,533) 93,699 111,507 (630,632) (4,176)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(111,031) (194,938) (337,010) (290,973) (236,958) (1,569)\n¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 ¥853,432 USD 5,651\n6,574 6,717 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 6,200 7,317 7,724 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n3. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net- 2 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_company_type",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nAnnual Report 2024\nfor the fiscal year ended March 31, 2024\nNintendo Co., Ltd.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_key_financials",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net sales 1671865m, operating profit: 528941m, ordinary profit: 680497m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 80th 81st 82nd 83rd 84th\nFiscal year ended March 31 2020 2021 2022 2023 2024\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 ¥1,671,865 USD 11,071\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n352,370 640,634 592,760 504,375 528,941 3,502\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n360,461 678,996 670,813 601,070 680,497 4,506\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n258,641 480,376 477,691 432,768 490,602 3,249\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n236,490 527,951 530,498 486,661 573,849 3,800\nNet assets (Millions of yen)\n(Millions of dollars) 1,540,900 1,874,614 2,069,310 2,266,466 2,604,998 17,251\nTotal assets (Millions of yen)\n(Millions of dollars) 1,934,087 2,446,918 2,662,384 2,854,284 3,151,394 20,870\nNet assets per share (Yen)\n(Dollars) 1,293.35 1,573.48 1,763.56 1,946.55 2,236.45 14\nProfit per share (Yen)\n(Dollars)\n217.12 403.26 404.67 371.41 421.39 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 79.66 76.60 77.71 79.40 82.62 -\nReturn on equity (ROE)\n(%) 17.53 28.13 24.23 19.96 20.15 -\nPrice earnings ratio (PER)\n(Times) 19.16 15.33 15.24 13.82 19.45 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n347,753 612,106 289,661 322,843 462,097 3,060\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(188,433) (136,533) 93,699 111,507 (630,632) (4,176)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(111,031) (194,938) (337,010) (290,973) (236,958) (1,569)\n¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 ¥853,432 USD 5,651\n6,574 6,717 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 6,200 7,317 7,724 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n3. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net- 2 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_revenue",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net sales 1671865m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 80th 81st 82nd 83rd 84th\nFiscal year ended March 31 2020 2021 2022 2023 2024\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 ¥1,671,865 USD 11,071\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n352,370 640,634 592,760 504,375 528,941 3,502\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n360,461 678,996 670,813 601,070 680,497 4,506\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n258,641 480,376 477,691 432,768 490,602 3,249\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n236,490 527,951 530,498 486,661 573,849 3,800\nNet assets (Millions of yen)\n(Millions of dollars) 1,540,900 1,874,614 2,069,310 2,266,466 2,604,998 17,251\nTotal assets (Millions of yen)\n(Millions of dollars) 1,934,087 2,446,918 2,662,384 2,854,284 3,151,394 20,870\nNet assets per share (Yen)\n(Dollars) 1,293.35 1,573.48 1,763.56 1,946.55 2,236.45 14\nProfit per share (Yen)\n(Dollars)\n217.12 403.26 404.67 371.41 421.39 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 79.66 76.60 77.71 79.40 82.62 -\nReturn on equity (ROE)\n(%) 17.53 28.13 24.23 19.96 20.15 -\nPrice earnings ratio (PER)\n(Times) 19.16 15.33 15.24 13.82 19.45 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n347,753 612,106 289,661 322,843 462,097 3,060\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(188,433) (136,533) 93,699 111,507 (630,632) (4,176)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(111,031) (194,938) (337,010) (290,973) (236,958) (1,569)\n¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 ¥853,432 USD 5,651\n6,574 6,717 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 6,200 7,317 7,724 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n3. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net- 2 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_revenue_growth",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales 1671865m, prior year: 1601677m",
      "golden_context": "Page 4:\n\nInformation on the Company\nI. Overview of the Company\n1. Key financial data and trends\nConsolidated financial data\nFiscal year 80th 81st 82nd 83rd 84th\nFiscal year ended March 31 2020 2021 2022 2023 2024\nNet sales (Millions of yen)\n(Millions of dollars)\n¥1,308,519 ¥1,758,910 ¥1,695,344 ¥1,601,677 ¥1,671,865 USD 11,071\nOperating profit\n(Millions of yen)\n(Millions of dollars)\n352,370 640,634 592,760 504,375 528,941 3,502\nOrdinary profit\n(Millions of yen)\n(Millions of dollars)\n360,461 678,996 670,813 601,070 680,497 4,506\nProfit attributable to owners of\nparent\n(Millions of yen)\n(Millions of dollars)\n258,641 480,376 477,691 432,768 490,602 3,249\nComprehensive income\n(Millions of yen)\n(Millions of dollars)\n236,490 527,951 530,498 486,661 573,849 3,800\nNet assets (Millions of yen)\n(Millions of dollars) 1,540,900 1,874,614 2,069,310 2,266,466 2,604,998 17,251\nTotal assets (Millions of yen)\n(Millions of dollars) 1,934,087 2,446,918 2,662,384 2,854,284 3,151,394 20,870\nNet assets per share (Yen)\n(Dollars) 1,293.35 1,573.48 1,763.56 1,946.55 2,236.45 14\nProfit per share (Yen)\n(Dollars)\n217.12 403.26 404.67 371.41 421.39 2\nDiluted profit per share (Yen)\n(Dollars)\n- - - - - -\nCapital adequacy ratio\n(%) 79.66 76.60 77.71 79.40 82.62 -\nReturn on equity (ROE)\n(%) 17.53 28.13 24.23 19.96 20.15 -\nPrice earnings ratio (PER)\n(Times) 19.16 15.33 15.24 13.82 19.45 -\nCash flows from operating\nactivities\n(Millions of yen)\n(Millions of dollars)\n347,753 612,106 289,661 322,843 462,097 3,060\nCash flows from investing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(188,433) (136,533) 93,699 111,507 (630,632) (4,176)\nCash flows from financing\nactivities\n(Millions of yen)\n(Millions of dollars)\n(111,031) (194,938) (337,010) (290,973) (236,958) (1,569)\n¥621,402 ¥932,079 ¥1,022,718 ¥1,194,569 ¥853,432 USD 5,651\n6,574 6,717 Cash and cash equivalents at\nend of period (Millions of yen)\n(Millions of dollars)\nNumber of employees (Persons) 6,200 7,317 7,724 -\n(Notes) 1. Effective from the beginning of the 82nd fiscal year (ended March 31, 2022), the Company has adopted the\n“Accounting Standard for Revenue Recognition, etc. (Accounting Standards Board of Japan (ASBJ) Statement No.\n29 of March 31, 2020).” The accounting standard has been applied to the major management indicators for the 82nd\nfiscal year onward.\n2.\n3. “Diluted profit per share” is not noted because the Company has not issued any dilutive shares.\nThe Company enacted a 10-for-1 stock split of its common stock with an effective date of October 1, 2022. Net- 2 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000439_segments",
      "report_id": "ID_000439",
      "company_name": "Nintendo",
      "year": 2024,
      "country": "JP",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Nintendo’s core business is engaged in one segment of the broader entertainment field. ",
      "golden_context": "Page 16:\n\nFluctuation in foreign exchange rates\nNintendo distributes its products globally with sales outside of Japan accounting for more than 70% of its total\nsales, and the majority of monetary transactions are made in local currencies. In addition, the Company holds a\nsubstantial amount of assets in foreign currencies. Fluctuations in foreign exchange rates have a strong influence\nnot only when accounts in foreign currencies are converted to yen-denominated assets but also when they are\nrevaluated for financial reporting purposes. Therefore, if there are significant fluctuations in foreign exchange\nrates, Nintendo’s financial position, operating results and cash flows could be adversely affected.\nIn order to reduce the influence of fluctuations in foreign exchange rates, Nintendo purchases in foreign\ncurrencies on an ongoing basis.\n(2) Risks around business activities\n• Fluctuation of market environment and competition against other companies\nNintendo’s core business is engaged in one segment of the broader entertainment field. However, its business\nis also affected by a variety of other entertainment trends. If consumer preferences shift to other forms of\nentertainment, the video game market may shrink. The emergence of new competitors resulting from\ntechnological innovation could have a significant impact as well. In the video game industry, it may become\neven more difficult to be profitable due to large investments required in research and development and\nmarketing. In addition, competition may intensify with large-scale companies doing business in the same\nindustry or in other segments of the entertainment industry. Furthermore, if Nintendo is unable to adapt to rapid\nstructural changes or other changes, its financial position, operating results and cash flows could be adversely\naffected.\nAs an entertainment company that creates smiles, the Company group aims to offer its unique and original brand\nof play that anyone and everyone can intuitively enjoy. To enable unique entertainment experiences, we place\nour dedicated video game platform business - integrating both hardware and software - at the center of\neverything we do, and work to provide new and original products and services for people everywhere. Moreover,\nto continue invigorating our core business, the Company group’s fundamental strategy is to expand the number\nof people who have access to Nintendo IP. To this end, we seek to broaden the touch points of Nintendo IP with\nconsumers in areas beyond dedicated video game platforms and create opportunities for more people to become\ninterested in gaming experiences. In addition, we work to maintain a long-term relationship with each of our\nconsumers through Nintendo Account as a way to connect these initiatives.\n• Development of new products, etc.\nDespite the substantial costs and time needed for the planning and development of software for dedicated video\ngame platforms, applications for smart-device gaming services, and visual content, there is no guarantee that\nall new products and services will be accepted by consumers due to ever shifting preferences. As development\nof hardware is time-consuming, with technology continuously advancing, Nintendo may not be able to readily\nacquire technologies required for entertainment. Furthermore, delays of product launches could adversely affect\nmarket share.\nIn addition, due to the nature of Nintendo products and services, it may be difficult to develop products and\nservices as planned in some cases, making it impossible to sell or launch the products and services as planned.\nMoreover, development may be suspended or aborted, and the original plan could differ to a large extent.\nIn the field of entertainment, the development process is complicated and includes many uncertainties; therefore,\nif Nintendo is unable to deal with the above risks, its financial position, operating results and cash flows could\nbe adversely affected.\nNintendo continuously strives to develop unique and attractive new products.\n• Product valuation and adequate inventory procurement\nGiven that general products in the video game industry have relatively short life cycles, and are significantly\nimpacted by consumer preferences as well as seasonality, excess inventory and obsolete inventory could have\nan adverse effect on Nintendo’s financial position, operating results and cash flows.\nBusiness opportunities could be missed if supply to the market falls short of the necessary quantity due to\ndifficulties in accurately forecasting demand. At Nintendo, projected production is conducted and sales of\ndownloadable versions of software are promoted in order to guarantee supply based on forecasted demand.\n- 14 -\n(3) • Dependency on outside manufacturers\nNintendo commissions outside companies to produce key components and assemble finished products. In the\nevent one or more of these outside companies go bankrupt, Nintendo may have difficulty procuring key\ncomponents or manufacturing its products. In addition, suppliers may be unable to provide necessary\ncomponents on a timely basis. A shortage of key components could cause issues such as marginal decline due\nto higher costs, shortage of products and quality control issues. These issues may impair the relationship\nbetween Nintendo and consumers. Furthermore, as many suppliers’ production facilities are located outside\nJapan, a decline in local public safety, natural disasters, epidemics or any other incidents, or other issues specific\nto the area could interrupt production and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_cash_flow",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow 39949 crore ",
      "golden_context": "Page 21:\n\nancial Highlights\nRevenue Trend\nCAGR 10.2%\nOperating Profit Trend\n25.6% 25.9% 25.3%\n24.8% 24.6%\n123,104\n146,463\n156,949\n164,177\n191,754\n30,502\n37,450\n38,580\n42,481\n48,453\nFY 2018\nFY 2019\nFY 2020\nFY 2021\nFY 2022\nFY 2018\nFY 2019\n(` crore)\n(` crore)\nFY 2020\nFY 2021*\nOperating Profit\nFY 2022\nOperating Margin\nOCF and Cash Conversion\n97.1%\n25,067\n100.1%\n90.9%\n28,593\n32,369\n116.2%\n38,802\n104.2%\n39,949\nFY 2018\nFY 2019\nFY 2020\nFY 2021*\nFY 2022\n(` crore)\nOperating Cash Flow (OCF) OCF to Net Profit Ratio Cash Usage#\nShareholder Distribution\nCapex\nAcquisitions, etc.\nInvested Funds\n7.5%\n# Cash usage for the period FY 2018 to FY 2022\n1.8%\n0.2%\n90.5%\n* Excluding provision towards legal claim\nEarnings per share ^\nCAGR 9.2%\n67.10\n83.05\n86.19\n89.27\n103.62\nFY 2018\n(Amount in `) FY 2019\nFY 2020\nFY 2021*\nFY 2022\n^ Earnings per share is adjusted for bonus issue\n11,377\n16,000\n13,148\n16,000\n14,055\n17,840\n92.6% 98.6%\n106.0%\nShareholder Payouts\n101.5%\n14,147\n19,726\n15,818#\n22,192\n99.2%\nFY 2018 FY 2019 FY 2020 FY 2021* FY 2022\nSpecial\nDividend Buyback\nShareholder Payout ratio\nDividend\nincluding\n(Including special dividend\ntax\nand buyback, including tax)\n(` crore) # includes proposed final dividend\n\nPage 7:\n\nDear Stakeholder,\nThe past couple of years have been a period of\nintense action and reflection. We have seen a\nglobal pandemic, geopolitical tensions, supply chain\ndisruptions, the rise of cryptocurrency and many other\npublic and private upheavals. As the dust settles, and a\nclearer picture of the world ahead emerges, I believe\nwe are standing at the threshold of a period of great\nopportunity and growth.\nIn the face of widespread change, your company has\nshown remarkable resilience and adaptability, coming\nout stronger than ever, after catastrophic events like\nthe global financial crisis or the pandemic.\nIn FY 2022, your company crossed a milestone of\n$25 billion in revenues, experiencing strong growth\nof 15.9%, adding an all-time high incremental\nrevenues of $3.5 billion. Even more satisfyingly, this\ngrowth has come with an industry-leading operating\nmargin of 25.3%. Since the start of the last decade,\nthe company has grown over four times, comfortably\noutperforming its largest global competitors. This\ngrowth is the source of our energy and vibrancy,\nreflected in the 17.7% growth in market value to\n`13,83,427 crore in the past year.\nThe change in technology consumption reflects\nthe prevailing trends in the economy. Recent events\nhave accelerated digital adoption, put the spotlight\non supply chain resilience and added urgency to the\nsustainability imperative. Each of these represents an\nopportunity that can contribute towards the growth\nof not just your company, but of the ecosystem as a\nwhole.\nDigital transformation is now an integral part of the\nfunctioning of enterprises, governments and societies.\nYour company continues to play a critical role in\nthis transformation, helping clients embrace new\ntechnologies, initially to cope with the crisis, and since\nthen, to innovate at scale and grow their businesses.\nAs a fitness enthusiast, I can tell you that the only\nway to transform in the long term is by strengthening\none’s core. It is no different for organizations. We work\nwith large enterprises to simplify their technology\nlandscape and strengthen their core by building\na cloud-based digital foundation and embedding\nintelligent automation into their operations so they\ncan focus on building memorable experiences for their\ncustomers.\nArtificial intelligence and data are key differentiators for\nenterprises today. TCS helps its customers stay ahead\nof the game by investing in research and innovation,\ntapping the intellectual capital within the organization\nand also of our ecosystem through our Co-Innovation\nNetwork which includes leading academic institutions\nand start-ups working on cutting-edge technologies.\nOur insights and foresight are also crystallized in the\nform of AI-powered products and platforms that give\ncustomers actionable intelligence.\nAnother area that is a priority for me at the Tata group\nis sustainability and integrating that into business\ndecision-making and business models. Your company\nis partnering with clients in taking up community\ninitiatives jointly, in sharing best practices around\ndiversity and inclusion, and importantly, in helping\nthem achieve their sustainability objectives using\ntechnology. In addition to reducing its own carbon\nfootprint in its journey to be net zero by 2030, your\ncompany is helping the world’s largest corporations\nin developing and executing their sustainability\nroadmaps, deploying its portfolio of intellectual\nproperty and services to help them track their\nemissions, reduce their carbon footprint and get closer\nto their net zero goals.\nThe supply chain upheavals during the past couple\nof years are driving a shift towards rebalancing\nand resilience. As companies seek real-time data\nto transform their supply chains, AI and predictive\nanalytics help capture insights and react to changing\nconditions—from widescale disruptions to individual\ncustomer complaints. Your company is helping\nLetter from the Chairman | 7\ncompanies reconfigure their supply chains in many\nways, including rolling out connected logistics to\nefficiently manage business disruption and ensure that\nthey can serve their customers and stakeholders on\ntime.\nI strongly believe that technology is at its most\ntransformational when combined with the strength\nof human capital. In FY 2022, our employee strength\ngrew to 592,195 with a record net addition of\n103,546 employees. You will be proud of the way\nyour company supported its employees and their\nfamilies in dealing with the pandemic, including\norganizing what was perhaps the largest vaccination\ndrive in corporate India for employees and families of\nnot just TCS, but also of its extended ecosystem of\npartners and other group companies.\nIn turn, our employees have shown remarkable\nresilience, loyalty and tenacity in ensuring that our\ncustomers are not impacted, despite significant\npersonal challenges. I salute their spirit.\nOur purpose is anchored in the well-being of all our\nstakeholders, and the communities we operate in are\nvery important stakeholders for us. Drawing from the\nlegacy of the Tata group, we work closely with our\ncommunities to create equitable, inclusive pathways\nfor all, especially women, youth and marginalized\ngroups.\nWe leverage four forms of capital - Intellectual,\nTechnological, Human, and Financial - to bridge\nthe opportunity gap for people and communities.\nOur primary focus areas are education, skilling,\nemployment, and entrepreneurship. Additionally, we\ninvest in basic health and wellness, water sanitation\nand hygiene, conservation, and disaster relief efforts.\nSince 2015, your company has invested $634 million\nin its community initiatives and empowered millions\nof people globally, primarily underserved students,\nminorities, youth, women and elders, to be literate,\nhealthy, educated, digitally skilled, become rural\nentrepreneurs and gain employment.\nAs we look ahead to the future, we go back to a\nkey pillar of our strategy – customer centricity. Our\norganization structure, our investments in new\ncapabilities and intellectual property, our delivery\nmodels and contracting structures have all been\nshaped by our clients’ needs. Our new organization\nstructure is designed to make every client continue\nto feel deeply valued, and to leverage TCS’ rich set of\ncapabilities and contextual knowledge to transform,\ngrow and build better futures. With scale and by\nsteadily expanding its transformation capabilities, TCS\nis moving from pursuing opportunities, to shaping\nthose opportunities in the years ahead.\nI look forward to sharing with you more milestones\nin this journey in the coming years. On behalf of the\nBoard of Directors of Tata Consultancy Services,\nI want to thank you for your continued trust,\nconfidence, and support.\nWarm regards,\nN Chandrasekaran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_company_type",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 46:\n\ntice is hereby given that the twenty-seventh\nAnnual General Meeting of Tata Consultancy\nServices Limited will be held on Thursday,\nJune 9, 2022 at 3:30 p.m. (IST) through Video\nConferencing (“VC”)/Other Audio Visual Means\n(“OAVM”) to transact the following business:\n1. To receive, consider and adopt:\na. the Audited Standalone Financial\nStatements of the Company for the\nfinancial year ended March 31, 2022,\ntogether with the Reports of the Board of\nDirectors and the Auditors thereon; and\n2. 3. 4. b. the Audited Consolidated Financial\nStatements of the Company for the\nfinancial year ended March 31, 2022,\ntogether with the Report of the Auditors\nthereon.\nTo confirm the payment of Interim Dividends on\nEquity Shares and to declare a Final Dividend on\nEquity Shares for the financial year 2021-22.\nTo appoint",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_key_financials",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "25bn revenues, 15.9% growth, EPS 103.62, operating profit: 48453 crore",
      "golden_context": "Page 21:\n\nancial Highlights\nRevenue Trend\nCAGR 10.2%\nOperating Profit Trend\n25.6% 25.9% 25.3%\n24.8% 24.6%\n123,104\n146,463\n156,949\n164,177\n191,754\n30,502\n37,450\n38,580\n42,481\n48,453\nFY 2018\nFY 2019\nFY 2020\nFY 2021\nFY 2022\nFY 2018\nFY 2019\n(` crore)\n(` crore)\nFY 2020\nFY 2021*\nOperating Profit\nFY 2022\nOperating Margin\nOCF and Cash Conversion\n97.1%\n25,067\n100.1%\n90.9%\n28,593\n32,369\n116.2%\n38,802\n104.2%\n39,949\nFY 2018\nFY 2019\nFY 2020\nFY 2021*\nFY 2022\n(` crore)\nOperating Cash Flow (OCF) OCF to Net Profit Ratio Cash Usage#\nShareholder Distribution\nCapex\nAcquisitions, etc.\nInvested Funds\n7.5%\n# Cash usage for the period FY 2018 to FY 2022\n1.8%\n0.2%\n90.5%\n* Excluding provision towards legal claim\nEarnings per share ^\nCAGR 9.2%\n67.10\n83.05\n86.19\n89.27\n103.62\nFY 2018\n(Amount in `) FY 2019\nFY 2020\nFY 2021*\nFY 2022\n^ Earnings per share is adjusted for bonus issue\n11,377\n16,000\n13,148\n16,000\n14,055\n17,840\n92.6% 98.6%\n106.0%\nShareholder Payouts\n101.5%\n14,147\n19,726\n15,818#\n22,192\n99.2%\nFY 2018 FY 2019 FY 2020 FY 2021* FY 2022\nSpecial\nDividend Buyback\nShareholder Payout ratio\nDividend\nincluding\n(Including special dividend\ntax\nand buyback, including tax)\n(` crore) # includes proposed final dividend\n\nPage 7:\n\nDear Stakeholder,\nThe past couple of years have been a period of\nintense action and reflection. We have seen a\nglobal pandemic, geopolitical tensions, supply chain\ndisruptions, the rise of cryptocurrency and many other\npublic and private upheavals. As the dust settles, and a\nclearer picture of the world ahead emerges, I believe\nwe are standing at the threshold of a period of great\nopportunity and growth.\nIn the face of widespread change, your company has\nshown remarkable resilience and adaptability, coming\nout stronger than ever, after catastrophic events like\nthe global financial crisis or the pandemic.\nIn FY 2022, your company crossed a milestone of\n$25 billion in revenues, experiencing strong growth\nof 15.9%, adding an all-time high incremental\nrevenues of $3.5 billion. Even more satisfyingly, this\ngrowth has come with an industry-leading operating\nmargin of 25.3%. Since the start of the last decade,\nthe company has grown over four times, comfortably\noutperforming its largest global competitors. This\ngrowth is the source of our energy and vibrancy,\nreflected in the 17.7% growth in market value to\n`13,83,427 crore in the past year.\nThe change in technology consumption reflects\nthe prevailing trends in the economy. Recent events\nhave accelerated digital adoption, put the spotlight\non supply chain resilience and added urgency to the\nsustainability imperative. Each of these represents an\nopportunity that can contribute towards the growth\nof not just your company, but of the ecosystem as a\nwhole.\nDigital transformation is now an integral part of the\nfunctioning of enterprises, governments and societies.\nYour company continues to play a critical role in\nthis transformation, helping clients embrace new\ntechnologies, initially to cope with the crisis, and since\nthen, to innovate at scale and grow their businesses.\nAs a fitness enthusiast, I can tell you that the only\nway to transform in the long term is by strengthening\none’s core. It is no different for organizations. We work\nwith large enterprises to simplify their technology\nlandscape and strengthen their core by building\na cloud-based digital foundation and embedding\nintelligent automation into their operations so they\ncan focus on building memorable experiences for their\ncustomers.\nArtificial intelligence and data are key differentiators for\nenterprises today. TCS helps its customers stay ahead\nof the game by investing in research and innovation,\ntapping the intellectual capital within the organization\nand also of our ecosystem through our Co-Innovation\nNetwork which includes leading academic institutions\nand start-ups working on cutting-edge technologies.\nOur insights and foresight are also crystallized in the\nform of AI-powered products and platforms that give\ncustomers actionable intelligence.\nAnother area that is a priority for me at the Tata group\nis sustainability and integrating that into business\ndecision-making and business models. Your company\nis partnering with clients in taking up community\ninitiatives jointly, in sharing best practices around\ndiversity and inclusion, and importantly, in helping\nthem achieve their sustainability objectives using\ntechnology. In addition to reducing its own carbon\nfootprint in its journey to be net zero by 2030, your\ncompany is helping the world’s largest corporations\nin developing and executing their sustainability\nroadmaps, deploying its portfolio of intellectual\nproperty and services to help them track their\nemissions, reduce their carbon footprint and get closer\nto their net zero goals.\nThe supply chain upheavals during the past couple\nof years are driving a shift towards rebalancing\nand resilience. As companies seek real-time data\nto transform their supply chains, AI and predictive\nanalytics help capture insights and react to changing\nconditions—from widescale disruptions to individual\ncustomer complaints. Your company is helping\nLetter from the Chairman | 7\ncompanies reconfigure their supply chains in many\nways, including rolling out connected logistics to\nefficiently manage business disruption and ensure that\nthey can serve their customers and stakeholders on\ntime.\nI strongly believe that technology is at its most\ntransformational when combined with the strength\nof human capital. In FY 2022, our employee strength\ngrew to 592,195 with a record net addition of\n103,546 employees. You will be proud of the way\nyour company supported its employees and their\nfamilies in dealing with the pandemic, including\norganizing what was perhaps the largest vaccination\ndrive in corporate India for employees and families of\nnot just TCS, but also of its extended ecosystem of\npartners and other group companies.\nIn turn, our employees have shown remarkable\nresilience, loyalty and tenacity in ensuring that our\ncustomers are not impacted, despite significant\npersonal challenges. I salute their spirit.\nOur purpose is anchored in the well-being of all our\nstakeholders, and the communities we operate in are\nvery important stakeholders for us. Drawing from the\nlegacy of the Tata group, we work closely with our\ncommunities to create equitable, inclusive pathways\nfor all, especially women, youth and marginalized\ngroups.\nWe leverage four forms of capital - Intellectual,\nTechnological, Human, and Financial - to bridge\nthe opportunity gap for people and communities.\nOur primary focus areas are education, skilling,\nemployment, and entrepreneurship. Additionally, we\ninvest in basic health and wellness, water sanitation\nand hygiene, conservation, and disaster relief efforts.\nSince 2015, your company has invested $634 million\nin its community initiatives and empowered millions\nof people globally, primarily underserved students,\nminorities, youth, women and elders, to be literate,\nhealthy, educated, digitally skilled, become rural\nentrepreneurs and gain employment.\nAs we look ahead to the future, we go back to a\nkey pillar of our strategy – customer centricity. Our\norganization structure, our investments in new\ncapabilities and intellectual property, our delivery\nmodels and contracting structures have all been\nshaped by our clients’ needs. Our new organization\nstructure is designed to make every client continue\nto feel deeply valued, and to leverage TCS’ rich set of\ncapabilities and contextual knowledge to transform,\ngrow and build better futures. With scale and by\nsteadily expanding its transformation capabilities, TCS\nis moving from pursuing opportunities, to shaping\nthose opportunities in the years ahead.\nI look forward to sharing with you more milestones\nin this journey in the coming years. On behalf of the\nBoard of Directors of Tata Consultancy Services,\nI want to thank you for your continued trust,\nconfidence, and support.\nWarm regards,\nN Chandrasekaran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_revenue",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "25bn revenues",
      "golden_context": "Page 7:\n\nDear Stakeholder,\nThe past couple of years have been a period of\nintense action and reflection. We have seen a\nglobal pandemic, geopolitical tensions, supply chain\ndisruptions, the rise of cryptocurrency and many other\npublic and private upheavals. As the dust settles, and a\nclearer picture of the world ahead emerges, I believe\nwe are standing at the threshold of a period of great\nopportunity and growth.\nIn the face of widespread change, your company has\nshown remarkable resilience and adaptability, coming\nout stronger than ever, after catastrophic events like\nthe global financial crisis or the pandemic.\nIn FY 2022, your company crossed a milestone of\n$25 billion in revenues, experiencing strong growth\nof 15.9%, adding an all-time high incremental\nrevenues of $3.5 billion. Even more satisfyingly, this\ngrowth has come with an industry-leading operating\nmargin of 25.3%. Since the start of the last decade,\nthe company has grown over four times, comfortably\noutperforming its largest global competitors. This\ngrowth is the source of our energy and vibrancy,\nreflected in the 17.7% growth in market value to\n`13,83,427 crore in the past year.\nThe change in technology consumption reflects\nthe prevailing trends in the economy. Recent events\nhave accelerated digital adoption, put the spotlight\non supply chain resilience and added urgency to the\nsustainability imperative. Each of these represents an\nopportunity that can contribute towards the growth\nof not just your company, but of the ecosystem as a\nwhole.\nDigital transformation is now an integral part of the\nfunctioning of enterprises, governments and societies.\nYour company continues to play a critical role in\nthis transformation, helping clients embrace new\ntechnologies, initially to cope with the crisis, and since\nthen, to innovate at scale and grow their businesses.\nAs a fitness enthusiast, I can tell you that the only\nway to transform in the long term is by strengthening\none’s core. It is no different for organizations. We work\nwith large enterprises to simplify their technology\nlandscape and strengthen their core by building\na cloud-based digital foundation and embedding\nintelligent automation into their operations so they\ncan focus on building memorable experiences for their\ncustomers.\nArtificial intelligence and data are key differentiators for\nenterprises today. TCS helps its customers stay ahead\nof the game by investing in research and innovation,\ntapping the intellectual capital within the organization\nand also of our ecosystem through our Co-Innovation\nNetwork which includes leading academic institutions\nand start-ups working on cutting-edge technologies.\nOur insights and foresight are also crystallized in the\nform of AI-powered products and platforms that give\ncustomers actionable intelligence.\nAnother area that is a priority for me at the Tata group\nis sustainability and integrating that into business\ndecision-making and business models. Your company\nis partnering with clients in taking up community\ninitiatives jointly, in sharing best practices around\ndiversity and inclusion, and importantly, in helping\nthem achieve their sustainability objectives using\ntechnology. In addition to reducing its own carbon\nfootprint in its journey to be net zero by 2030, your\ncompany is helping the world’s largest corporations\nin developing and executing their sustainability\nroadmaps, deploying its portfolio of intellectual\nproperty and services to help them track their\nemissions, reduce their carbon footprint and get closer\nto their net zero goals.\nThe supply chain upheavals during the past couple\nof years are driving a shift towards rebalancing\nand resilience. As companies seek real-time data\nto transform their supply chains, AI and predictive\nanalytics help capture insights and react to changing\nconditions—from widescale disruptions to individual\ncustomer complaints. Your company is helping\nLetter from the Chairman | 7\ncompanies reconfigure their supply chains in many\nways, including rolling out connected logistics to\nefficiently manage business disruption and ensure that\nthey can serve their customers and stakeholders on\ntime.\nI strongly believe that technology is at its most\ntransformational when combined with the strength\nof human capital. In FY 2022, our employee strength\ngrew to 592,195 with a record net addition of\n103,546 employees. You will be proud of the way\nyour company supported its employees and their\nfamilies in dealing with the pandemic, including\norganizing what was perhaps the largest vaccination\ndrive in corporate India for employees and families of\nnot just TCS, but also of its extended ecosystem of\npartners and other group companies.\nIn turn, our employees have shown remarkable\nresilience, loyalty and tenacity in ensuring that our\ncustomers are not impacted, despite significant\npersonal challenges. I salute their spirit.\nOur purpose is anchored in the well-being of all our\nstakeholders, and the communities we operate in are\nvery important stakeholders for us. Drawing from the\nlegacy of the Tata group, we work closely with our\ncommunities to create equitable, inclusive pathways\nfor all, especially women, youth and marginalized\ngroups.\nWe leverage four forms of capital - Intellectual,\nTechnological, Human, and Financial - to bridge\nthe opportunity gap for people and communities.\nOur primary focus areas are education, skilling,\nemployment, and entrepreneurship. Additionally, we\ninvest in basic health and wellness, water sanitation\nand hygiene, conservation, and disaster relief efforts.\nSince 2015, your company has invested $634 million\nin its community initiatives and empowered millions\nof people globally, primarily underserved students,\nminorities, youth, women and elders, to be literate,\nhealthy, educated, digitally skilled, become rural\nentrepreneurs and gain employment.\nAs we look ahead to the future, we go back to a\nkey pillar of our strategy – customer centricity. Our\norganization structure, our investments in new\ncapabilities and intellectual property, our delivery\nmodels and contracting structures have all been\nshaped by our clients’ needs. Our new organization\nstructure is designed to make every client continue\nto feel deeply valued, and to leverage TCS’ rich set of\ncapabilities and contextual knowledge to transform,\ngrow and build better futures. With scale and by\nsteadily expanding its transformation capabilities, TCS\nis moving from pursuing opportunities, to shaping\nthose opportunities in the years ahead.\nI look forward to sharing with you more milestones\nin this journey in the coming years. On behalf of the\nBoard of Directors of Tata Consultancy Services,\nI want to thank you for your continued trust,\nconfidence, and support.\nWarm regards,\nN Chandrasekaran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_revenue_growth",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "growth of 15.9%",
      "golden_context": "Page 7:\n\nDear Stakeholder,\nThe past couple of years have been a period of\nintense action and reflection. We have seen a\nglobal pandemic, geopolitical tensions, supply chain\ndisruptions, the rise of cryptocurrency and many other\npublic and private upheavals. As the dust settles, and a\nclearer picture of the world ahead emerges, I believe\nwe are standing at the threshold of a period of great\nopportunity and growth.\nIn the face of widespread change, your company has\nshown remarkable resilience and adaptability, coming\nout stronger than ever, after catastrophic events like\nthe global financial crisis or the pandemic.\nIn FY 2022, your company crossed a milestone of\n$25 billion in revenues, experiencing strong growth\nof 15.9%, adding an all-time high incremental\nrevenues of $3.5 billion. Even more satisfyingly, this\ngrowth has come with an industry-leading operating\nmargin of 25.3%. Since the start of the last decade,\nthe company has grown over four times, comfortably\noutperforming its largest global competitors. This\ngrowth is the source of our energy and vibrancy,\nreflected in the 17.7% growth in market value to\n`13,83,427 crore in the past year.\nThe change in technology consumption reflects\nthe prevailing trends in the economy. Recent events\nhave accelerated digital adoption, put the spotlight\non supply chain resilience and added urgency to the\nsustainability imperative. Each of these represents an\nopportunity that can contribute towards the growth\nof not just your company, but of the ecosystem as a\nwhole.\nDigital transformation is now an integral part of the\nfunctioning of enterprises, governments and societies.\nYour company continues to play a critical role in\nthis transformation, helping clients embrace new\ntechnologies, initially to cope with the crisis, and since\nthen, to innovate at scale and grow their businesses.\nAs a fitness enthusiast, I can tell you that the only\nway to transform in the long term is by strengthening\none’s core. It is no different for organizations. We work\nwith large enterprises to simplify their technology\nlandscape and strengthen their core by building\na cloud-based digital foundation and embedding\nintelligent automation into their operations so they\ncan focus on building memorable experiences for their\ncustomers.\nArtificial intelligence and data are key differentiators for\nenterprises today. TCS helps its customers stay ahead\nof the game by investing in research and innovation,\ntapping the intellectual capital within the organization\nand also of our ecosystem through our Co-Innovation\nNetwork which includes leading academic institutions\nand start-ups working on cutting-edge technologies.\nOur insights and foresight are also crystallized in the\nform of AI-powered products and platforms that give\ncustomers actionable intelligence.\nAnother area that is a priority for me at the Tata group\nis sustainability and integrating that into business\ndecision-making and business models. Your company\nis partnering with clients in taking up community\ninitiatives jointly, in sharing best practices around\ndiversity and inclusion, and importantly, in helping\nthem achieve their sustainability objectives using\ntechnology. In addition to reducing its own carbon\nfootprint in its journey to be net zero by 2030, your\ncompany is helping the world’s largest corporations\nin developing and executing their sustainability\nroadmaps, deploying its portfolio of intellectual\nproperty and services to help them track their\nemissions, reduce their carbon footprint and get closer\nto their net zero goals.\nThe supply chain upheavals during the past couple\nof years are driving a shift towards rebalancing\nand resilience. As companies seek real-time data\nto transform their supply chains, AI and predictive\nanalytics help capture insights and react to changing\nconditions—from widescale disruptions to individual\ncustomer complaints. Your company is helping\nLetter from the Chairman | 7\ncompanies reconfigure their supply chains in many\nways, including rolling out connected logistics to\nefficiently manage business disruption and ensure that\nthey can serve their customers and stakeholders on\ntime.\nI strongly believe that technology is at its most\ntransformational when combined with the strength\nof human capital. In FY 2022, our employee strength\ngrew to 592,195 with a record net addition of\n103,546 employees. You will be proud of the way\nyour company supported its employees and their\nfamilies in dealing with the pandemic, including\norganizing what was perhaps the largest vaccination\ndrive in corporate India for employees and families of\nnot just TCS, but also of its extended ecosystem of\npartners and other group companies.\nIn turn, our employees have shown remarkable\nresilience, loyalty and tenacity in ensuring that our\ncustomers are not impacted, despite significant\npersonal challenges. I salute their spirit.\nOur purpose is anchored in the well-being of all our\nstakeholders, and the communities we operate in are\nvery important stakeholders for us. Drawing from the\nlegacy of the Tata group, we work closely with our\ncommunities to create equitable, inclusive pathways\nfor all, especially women, youth and marginalized\ngroups.\nWe leverage four forms of capital - Intellectual,\nTechnological, Human, and Financial - to bridge\nthe opportunity gap for people and communities.\nOur primary focus areas are education, skilling,\nemployment, and entrepreneurship. Additionally, we\ninvest in basic health and wellness, water sanitation\nand hygiene, conservation, and disaster relief efforts.\nSince 2015, your company has invested $634 million\nin its community initiatives and empowered millions\nof people globally, primarily underserved students,\nminorities, youth, women and elders, to be literate,\nhealthy, educated, digitally skilled, become rural\nentrepreneurs and gain employment.\nAs we look ahead to the future, we go back to a\nkey pillar of our strategy – customer centricity. Our\norganization structure, our investments in new\ncapabilities and intellectual property, our delivery\nmodels and contracting structures have all been\nshaped by our clients’ needs. Our new organization\nstructure is designed to make every client continue\nto feel deeply valued, and to leverage TCS’ rich set of\ncapabilities and contextual knowledge to transform,\ngrow and build better futures. With scale and by\nsteadily expanding its transformation capabilities, TCS\nis moving from pursuing opportunities, to shaping\nthose opportunities in the years ahead.\nI look forward to sharing with you more milestones\nin this journey in the coming years. On behalf of the\nBoard of Directors of Tata Consultancy Services,\nI want to thank you for your continued trust,\nconfidence, and support.\nWarm regards,\nN Chandrasekaran",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000440_segments",
      "report_id": "ID_000440",
      "company_name": "Tata Consultancy Services",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Banking, Financial Services and Insurance; Communication, Media and Technology; Retail and Consumer Business; Manufacturing; Life Sciences and Healthcare; Other",
      "golden_context": "Page 118:\n\nIndustry Vertical Segment Revenue\nFY 2022\n(FY 2021)\n` crore\nYoY\nRevenue\nGrowth\n%\nKey Spending Areas Segment Margin\nFY 2022\n(FY 2021)\n%\nBanking, Financial Services and\nInsurance\n75,126\n(65,634)\n14.5 •\n•\n•\n•\nCustomer journey transformation, ecosystem strategies for new\nproducts and services, fintech adoption.\nSustainability and climate change initiatives.\nRegulatory: New credit risk and operational risk mandates, controls\nmanagement, consent order management and strategic framework\nfor risk and finance management.\nTechnology: Cloud adoption, cyber security, IT estate rationalization,\ncore platform simplification, agile and DevOps adoption.\n26.9\n(28.5)\nCommunication, Media and\nTechnology\n31,874\n(27,077)\n17.7 •\n•\n•\n•\n5G and fiber rollout, network virtualization.\nData and analytics, cloud enablement, product and platform\nengineering.\nM&A, divestitures, business simplification.\nOperating model resilience, cost optimization.\n29.9\n(29.6)\nSegment revenues, year on year growth, a brief commentary and segment margins are provided below:\nIntegrated Annual Report 2021-22 Management Discussion and Analysis | 118\nIndustry Vertical Segment Revenue\nFY 2022\n(FY 2021)\n` crore\nYoY\nRevenue\nGrowth\n%\nKey Spending Areas Segment Margin\nFY 2022\n(FY 2021)\n%\nRetail and Consumer Business 30,715\n(25,589)\n20.0 •\n•\n•\nSeamless and Unified Customer experience across channels, hyper\npersonalization, last-mile delivery, marketplace, payments.\nSupply chain transformation for speed and visibility.\nEmployee experience, automation, application and data\nmodernization, cloud migration, cost optimization.\n27.8\n(27.9)\nManufacturing 18,610\n(15,950)\n16.7 •\n•\n•\n•\nIT infrastructure modernization, cloud enablement, cybersecurity.\nPlant safety, remote asset management, energy efficiency and\ndecarbonization.\nSupply chain resilience, process resilience.\nUtilities invested in connected ecosystems, smart grids and front-end\ndigital investments to enhance customer experience.\n30.1\n(28.1)\nLife Sciences and Healthcare 20,462\n(16,968)\n20.6 •\nCOVID-19 initiatives, connected labs, clinical trials, connected\ninstruments, digital surgery and health.\n30.0\n(31.0)\nOthers 14,967\n(12,959)\n15.5 •\n•\nDigital marketing and analytics, mergers, acquisitions and divestitures,\ndigital workplace transformation, ERP modernization, cloud\ntransformation, intelligent automation, data democratization, analytics\nand insights, cyber security.\nIT operating model transformation, Agile & DevOps, vendor\nconsolidation.\n20.6\n(22.9)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_cash_flow",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "operating cash flow: 41965 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 12.9%\n146,463\nFY\n2019\n(₹ crore) 156,949\nFY\n2020\n164,177\nFY\n2021\n191,754\nFY\n2022\n225,458\nFY\n2023\nEarnings per share\nCAGR 11.4%\n83.05\nFY\n2019\n(Amount in ₹)\n86.19\nFY\n2020\n89.27\nFY\n2021*\n103.62\nFY\n2022\n115.19\nFY\n2023\n1.0%\n7.6%\nCash Usage# Invested Funds\nAcquisitions etc\nCapex\nShareholder Distribution\n# Cash usage for the period\nFY 2019 to FY 2023\n*Excluding provision towards legal claim\n0.2%\n91.2%\nOperating Profit Trend\n25.6%\n24.6%\n25.9% 25.3%\n24.1%\n37,450\nFY\n2019\n(₹ crore)\n38,580\nFY\n2020\n42,481\nFY\n2021*\n48,453\nFY\n2022\n54,237\nFY\n2023\nOperating Profit\nOperating Margin\nOCF and Cash Conversion\n100.1%\n90.9%\n116.2% 104.2%\n99.6%\n28,593\nFY\n2019\n(₹ crore)\n32,369\nFY\n2020\n38,802\nFY\n2021*\n39,949\nFY\n2022\n41,965\nFY\n2023\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\nShareholder Payouts\n98.6%\n92.6%\n101.5% 99.2% 99.8%\n13,148\n16,000\n14,055\n17,840\n14,147\n19,726\n15,818\n22,192\n17,563#\n24,516\nFY\n2019\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\nDividend Special Dividend Buyback including tax\nShareholder Payout ratio (Including special dividend\nand buyback, including tax)\n# includes proposed final dividend\n(₹ crore)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_company_type",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 35:\n\nNotice\nNotice is hereby given that the twenty-eighth Annual General\nMeeting of Tata Consultancy Services Limited will be held\non Thursday, June 29, 2023, at 3:30 p.m. (IST) through Video\nConferencing (“VC”)/Other Audio Visual Means (“OAVM”) to\ntransact the following business:\nOrdinary Business\n1. To receive, consider and adopt\na. the Audited Standalone Financial Statements of the\nCompany for the financial year ended March 31, 2023,\ntogether with the Reports of the Board of Directors\nand the Auditors thereon; and\nb. the Audited Consolidated Financial Statements of the\nCompany for the financial year ended March 31, 2023,\ntogether with the Report of the Auditors thereon.\n2. To confirm the payment of Interim Dividends (including a\nspecial dividend) on Equity Shares and to declare a Final\nDividend on Equity Shares for the financial year 2022-23.\n3. To appoint a director in place of Aarthi Subramanian\n(DIN 07121802), who retires by rotation and, being eligible,\noffers herself for re-appointment.\nSpecial Business\n4. 5. Appointment of K Krithivasan as Director of the Company\nTo consider and, if thought fit, to pass the following\nresolution as an Ordinary Resolution:\n“RESOLVED that K Krithivasan (DIN 10106739), who\nwas appointed by the Board of Directors, based on the\nrecommendation of the Nomination and Remuneration\nCommittee, as an Additional Director of the Company\nwith effect from June 1, 2023 and who holds office up to\nthe date of this Annual General Meeting of the Company\nin terms of Section 161(1) and any other applicable\nprovisions, if any, of the Companies Act, 2013 (“Act”)\n(including any modification and re-enactment thereof), and\nArticle 73 of the Article of Association of the Company, and\nwho is eligible for appointment and has consented to act\nas a Director of the Company and in respect of whom the\nCompany has received a notice in writing from a Member\nunder Section 160(1) of the Act proposing his candidature\nfor the office of Director of the Company, be and is hereby\nappointed as a Director of the Company, not liable to retire\nby rotation.”\n_x0007_ Appointment of K Krithivasan as Chief Executive Officer\nand Managing Director of the Company\nTo consider and, if thought fit, to pass the following\nresolution as an Ordinary Resolution:\n“RESOLVED that pursuant to the provisions of Sections\n196, 197, 203 and other applicable provisions, if any, of the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_key_financials",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenues 225458 crore, operating profit 54237 crore, EPS 115.19, operating cash flow 41965 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 12.9%\n146,463\nFY\n2019\n(₹ crore) 156,949\nFY\n2020\n164,177\nFY\n2021\n191,754\nFY\n2022\n225,458\nFY\n2023\nEarnings per share\nCAGR 11.4%\n83.05\nFY\n2019\n(Amount in ₹)\n86.19\nFY\n2020\n89.27\nFY\n2021*\n103.62\nFY\n2022\n115.19\nFY\n2023\n1.0%\n7.6%\nCash Usage# Invested Funds\nAcquisitions etc\nCapex\nShareholder Distribution\n# Cash usage for the period\nFY 2019 to FY 2023\n*Excluding provision towards legal claim\n0.2%\n91.2%\nOperating Profit Trend\n25.6%\n24.6%\n25.9% 25.3%\n24.1%\n37,450\nFY\n2019\n(₹ crore)\n38,580\nFY\n2020\n42,481\nFY\n2021*\n48,453\nFY\n2022\n54,237\nFY\n2023\nOperating Profit\nOperating Margin\nOCF and Cash Conversion\n100.1%\n90.9%\n116.2% 104.2%\n99.6%\n28,593\nFY\n2019\n(₹ crore)\n32,369\nFY\n2020\n38,802\nFY\n2021*\n39,949\nFY\n2022\n41,965\nFY\n2023\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\nShareholder Payouts\n98.6%\n92.6%\n101.5% 99.2% 99.8%\n13,148\n16,000\n14,055\n17,840\n14,147\n19,726\n15,818\n22,192\n17,563#\n24,516\nFY\n2019\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\nDividend Special Dividend Buyback including tax\nShareholder Payout ratio (Including special dividend\nand buyback, including tax)\n# includes proposed final dividend\n(₹ crore)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_revenue",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "revenue: 225458 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 12.9%\n146,463\nFY\n2019\n(₹ crore) 156,949\nFY\n2020\n164,177\nFY\n2021\n191,754\nFY\n2022\n225,458\nFY\n2023\nEarnings per share\nCAGR 11.4%\n83.05\nFY\n2019\n(Amount in ₹)\n86.19\nFY\n2020\n89.27\nFY\n2021*\n103.62\nFY\n2022\n115.19\nFY\n2023\n1.0%\n7.6%\nCash Usage# Invested Funds\nAcquisitions etc\nCapex\nShareholder Distribution\n# Cash usage for the period\nFY 2019 to FY 2023\n*Excluding provision towards legal claim\n0.2%\n91.2%\nOperating Profit Trend\n25.6%\n24.6%\n25.9% 25.3%\n24.1%\n37,450\nFY\n2019\n(₹ crore)\n38,580\nFY\n2020\n42,481\nFY\n2021*\n48,453\nFY\n2022\n54,237\nFY\n2023\nOperating Profit\nOperating Margin\nOCF and Cash Conversion\n100.1%\n90.9%\n116.2% 104.2%\n99.6%\n28,593\nFY\n2019\n(₹ crore)\n32,369\nFY\n2020\n38,802\nFY\n2021*\n39,949\nFY\n2022\n41,965\nFY\n2023\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\nShareholder Payouts\n98.6%\n92.6%\n101.5% 99.2% 99.8%\n13,148\n16,000\n14,055\n17,840\n14,147\n19,726\n15,818\n22,192\n17,563#\n24,516\nFY\n2019\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\nDividend Special Dividend Buyback including tax\nShareholder Payout ratio (Including special dividend\nand buyback, including tax)\n# includes proposed final dividend\n(₹ crore)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_revenue_growth",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "revenue: 225458 crore, prior year: 191754 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 12.9%\n146,463\nFY\n2019\n(₹ crore) 156,949\nFY\n2020\n164,177\nFY\n2021\n191,754\nFY\n2022\n225,458\nFY\n2023\nEarnings per share\nCAGR 11.4%\n83.05\nFY\n2019\n(Amount in ₹)\n86.19\nFY\n2020\n89.27\nFY\n2021*\n103.62\nFY\n2022\n115.19\nFY\n2023\n1.0%\n7.6%\nCash Usage# Invested Funds\nAcquisitions etc\nCapex\nShareholder Distribution\n# Cash usage for the period\nFY 2019 to FY 2023\n*Excluding provision towards legal claim\n0.2%\n91.2%\nOperating Profit Trend\n25.6%\n24.6%\n25.9% 25.3%\n24.1%\n37,450\nFY\n2019\n(₹ crore)\n38,580\nFY\n2020\n42,481\nFY\n2021*\n48,453\nFY\n2022\n54,237\nFY\n2023\nOperating Profit\nOperating Margin\nOCF and Cash Conversion\n100.1%\n90.9%\n116.2% 104.2%\n99.6%\n28,593\nFY\n2019\n(₹ crore)\n32,369\nFY\n2020\n38,802\nFY\n2021*\n39,949\nFY\n2022\n41,965\nFY\n2023\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\nShareholder Payouts\n98.6%\n92.6%\n101.5% 99.2% 99.8%\n13,148\n16,000\n14,055\n17,840\n14,147\n19,726\n15,818\n22,192\n17,563#\n24,516\nFY\n2019\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\nDividend Special Dividend Buyback including tax\nShareholder Payout ratio (Including special dividend\nand buyback, including tax)\n# includes proposed final dividend\n(₹ crore)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000441_segments",
      "report_id": "ID_000441",
      "company_name": "Tata Consultancy Services",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Banking, Financial Services and Insurance (BFSI), Communication, Media and Technology (CMT), Retail and Consumer Business, Life\nSciences and Healthcare, Manufacturing and Others.",
      "golden_context": "Page 86:\n\ngraphic footprint covers North America, Latin America,\nthe United Kingdom, Continental Europe, Asia Pacific, India and\nMiddle-East Africa.\nTCS considers industry verticals as its primary go-to-market\nbusiness segments. The key vertical clusters are: Banking,\nFinancial Services and Insurance (BFSI), Communication, Media\nand Technology (CMT), Retail and Consumer Business, Life\nSciences and Healthcare, Manufacturing and Others.\nStrategy for Sustainable Growth3\nCustomer-centricity is at the heart of TCS’ strategy,\norganization structure and investment decisions. TCS’\ncustomer-centric worldview helps spot trends early, embrace\nbusiness opportunities by making the right investments and\nmitigating risk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_cash_flow",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating cash flow: 45097 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 10.5%\nOperating Profit Trend\n25.9% 25.3%\n24.6%\n24.1% 24.6%\n156,949\n164,177\n191,754\n225,458\n240,893\n38,580\n42,481\n48,453\n54,237\n59,311\nFY\n2020\nFY\n2021\n(₹ crore)\nEarnings per share\nCAGR 9.0%\nFY\n2022\nFY\n2023\nFY\n2024\nFY\n2020\nFY\n2021*\nFY\n2022\n(₹ crore)\nOCF and Cash Conversion\n116.2%\n100.1%\nFY\n2023\nFY\n2024*\nOperating Profit\nOperating Margin\n104.2%\n99.6% 96.8%\n86.19\n89.27\n103.62\n115.19\n127.74\n32,369\n38,802\n39,949\n41,965\n45,097\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\n(Amount in ₹)\nCash Usage for the last 20 years #\nShareholder Distribution\nInvested Funds\n11.2%\nCapex\n4 10.1%\nM&A\n1.2%\n# For the period FY 2005 to FY 2024\nFY\n2024*\n77.5%\nFY\n2020\nFY\n2021*\n(₹ crore) Shareholder Payouts\n100%+\nAverage\nPayout\nover last\n5 years\n101.5%\nFY\n2022\nFY\n2023\nFY\n2024*\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\n101.8%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_company_type",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 35:\n\nNotice\nNotice\n35\nNotice is hereby given that the twenty-nineth Annual General\nMeeting of Tata Consultancy Services Limited (“Company” or\n“TCS”) will be held on Friday, May 31, 2024, at 3.00 p.m. (IST)\nthrough Video Conferencing (“VC”)/Other Audio Visual Means\n(“OAVM”) to transact the following business:\nOrdinary Business\n1. To receive, consider and adopt\na. the Audited Standalone Financial Statements of the\nCompany for the financial year ended March 31, 2024,\ntogether with the Reports of the Board of Directors\nand the Auditors thereon; and\nb. the Audited Consolidated Financial Statements of the\nCompany for the financial year ended March 31, 2024,\ntogether with the Report of the Auditors thereon.\n2. To confirm the payment of Interim Dividends (including\na special dividend) on Equity Shares and to declare a\nFinal Dividend on Equity Shares for the financial year 2023-24.\n3. To appoint a Director in place of N Chandrasekaran\n(DIN 00121863), who retires by rotation and being eligible,\noffers himself for re-appointment.\nSpecial Business\n4. To approve existing as well as new material related party\ntransactions with identified subsidiaries of Promoter\nCompany and/ or their subsidiaries\nTo consider and if thought fit, to pass the following\nresolution as an Ordinary Resolution:\n“RESOLVED that pursuant to the provisions of Regulation\n23(4) of the Securities and Exchange Board of India (Listing\nObligations and Disclosure Requirements) Regulations,\n2015 (“SEBI Listing Regulations”), as amended from time to\ntime, the applicable provisions of the Companies Act, 2013\n(“Act”) read with Rules made thereunder, other applicable\nlaws/statutory provisions, if any, (including any statutory\nmodification(s) or amendment(s) or re-enactment(s)\nthereof, for the time being in force), the Company’s\nPolicy on Related Party Transactions, and subject to\nsuch approval(s), consent(s), permission(s) as may be\nnecessary from time to time and basis the approval and\nrecommendation of the Audit Committee and the Board of\nDirectors of the Company, the approval of the Members of\nthe Company be and is hereby accorded to the Company\nto enter/continue to enter into Material Related Party\nTransaction(s)/ Contract(s)/Arrangement(s)/Agreement(s)\n(whether by way of an individual transaction or transaction\ntaken together or series of transactions or otherwise)\nwith identified subsidiaries of Promoter Company and/\nor their subsidiaries, related parties falling within the\ndefinition of ‘Related Party’ under Section 2(76) of the Act\nand Regulation 2(1)(zb) of the SEBI Listing Regulations,\nduring financial year 2024-25 on such material terms and\nconditions as detailed in the explanatory statement to\nthis Resolution and as may be mutually agreed between\nIntegrated Annual Report 2023-24\nrelated parties and the Company, such that the maximum\nvalue of the Related Party Transactions with such parties,\nin aggregate, does not exceed value as specified in the\nexplanatory statement to this resolution, provided that\nthe said transaction(s)/Contract(s)/Arrangement(s)/\nAgreement(s) shall be carried out in the ordinary course of\nbusiness and at arm’s length basis.’’\n“RESOLVED FURTHER that the Board of Directors of the\nCompany (herein",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_key_financials",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "EPS 127.74, revenue 240893 crore. Revenue growth 6.8%. ",
      "golden_context": "Page 8:\n\nter from the CEO1\nDear Stakeholder,\nIt is my privilege to be writing to you from this desk as we near\n20 years to our listing since August 25, 2004. Over the last two\ndecades, your company’s Revenue and Net Profits have grown\nat a compounded annual growth rate of over 18% each.\nIt has been almost a full year since my transition as CEO,\nand I am happy to report that it has been a very stable and\nseamless experience for all our stakeholders. During this\nperiod, we refocused on our industry and technology expertise,\nemphasized and refreshed the core values that define who we\nare as a company, and doubled down on customer centricity\nand employee empathy.\nWe had a strong finish to the fiscal year FY 2024, with revenue\nfor the year at ₹240,893 crore. This is, a growth of 6.8% over\nthe previous year (3.4% in constant currency). Demand for\nour services showed remarkable resilience as macroeconomic\nuncertainties and geopolitical volatilities continued in major\nmarkets through the year.\nThis growth came with an industry leading operating margin of\n24.6%2\n. More importantly we exited the year with a quarterly\noperating margin of 26% in Q4, demonstrating our commitment\nto the margin band of 26% to 28%. Our Net Margin was at\n19.3%2\n.\nThe Earnings Per Share was at ₹127.742\n, a growth of 10.9% over\nthe prior year.\nAmong the Business Segments, Manufacturing grew 10.6%, Life\nSciences and Healthcare grew 8.7%, Banking, Financial Services\nand Insurance grew 5.6%, Consumer Business grew 4.9%,\nCommunication, Media and Technology grew 4.6%, while Others\ngrew 14.5% (YoY in reported currency).\nAmong geographies, growth was led by emerging markets: Latin\nAmerica grew 21.1%, India grew 20.3%, Middle East & Africa\ngrew 14.8% while Asia Pacific grew 4.0%. The UK grew 17.7%,\nContinental Europe grew 6.5%. North America grew 2.3% (YoY in\nreported currency).\nWe are seeing strong deal momentum across markets resulting\nin double-digit growth in our TCV of US$ 42.7 billion, which\nreflects our deepening partnership with our clients and gives us\noptimism for the medium to long term growth outlook.\nIn keeping with our capital allocation policy of returning\nsubstantial free cashflow to shareholders, the Board has\nrecommended a final dividend of ₹28 per share, bringing the\ntotal dividend for the year to ₹73 per share. The company also\nsuccessfully completed its fifth buyback program, distributing\n₹17,000 crore to shareholders. For the full year, the company’s\nshareholder payout was ₹47,445 crore, which will be our largest\npayout to date. Our average shareholder payout has been more\nthan 100% during the last 5 years.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_revenue",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "revenue: 240893 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 10.5%\nOperating Profit Trend\n25.9% 25.3%\n24.6%\n24.1% 24.6%\n156,949\n164,177\n191,754\n225,458\n240,893\n38,580\n42,481\n48,453\n54,237\n59,311\nFY\n2020\nFY\n2021\n(₹ crore)\nEarnings per share\nCAGR 9.0%\nFY\n2022\nFY\n2023\nFY\n2024\nFY\n2020\nFY\n2021*\nFY\n2022\n(₹ crore)\nOCF and Cash Conversion\n116.2%\n100.1%\nFY\n2023\nFY\n2024*\nOperating Profit\nOperating Margin\n104.2%\n99.6% 96.8%\n86.19\n89.27\n103.62\n115.19\n127.74\n32,369\n38,802\n39,949\n41,965\n45,097\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\n(Amount in ₹)\nCash Usage for the last 20 years #\nShareholder Distribution\nInvested Funds\n11.2%\nCapex\n4 10.1%\nM&A\n1.2%\n# For the period FY 2005 to FY 2024\nFY\n2024*\n77.5%\nFY\n2020\nFY\n2021*\n(₹ crore) Shareholder Payouts\n100%+\nAverage\nPayout\nover last\n5 years\n101.5%\nFY\n2022\nFY\n2023\nFY\n2024*\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\n101.8%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_revenue_growth",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "revenue: 240893 crore, prior year: 225458 crore",
      "golden_context": "Page 17:\n\nRevenue Trend\nCAGR 10.5%\nOperating Profit Trend\n25.9% 25.3%\n24.6%\n24.1% 24.6%\n156,949\n164,177\n191,754\n225,458\n240,893\n38,580\n42,481\n48,453\n54,237\n59,311\nFY\n2020\nFY\n2021\n(₹ crore)\nEarnings per share\nCAGR 9.0%\nFY\n2022\nFY\n2023\nFY\n2024\nFY\n2020\nFY\n2021*\nFY\n2022\n(₹ crore)\nOCF and Cash Conversion\n116.2%\n100.1%\nFY\n2023\nFY\n2024*\nOperating Profit\nOperating Margin\n104.2%\n99.6% 96.8%\n86.19\n89.27\n103.62\n115.19\n127.74\n32,369\n38,802\n39,949\n41,965\n45,097\nFY\n2020\nFY\n2021*\nFY\n2022\nFY\n2023\n(Amount in ₹)\nCash Usage for the last 20 years #\nShareholder Distribution\nInvested Funds\n11.2%\nCapex\n4 10.1%\nM&A\n1.2%\n# For the period FY 2005 to FY 2024\nFY\n2024*\n77.5%\nFY\n2020\nFY\n2021*\n(₹ crore) Shareholder Payouts\n100%+\nAverage\nPayout\nover last\n5 years\n101.5%\nFY\n2022\nFY\n2023\nFY\n2024*\nOperating Cash Flow (OCF)\nOCF to Net Profit Ratio\n101.8%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000442_segments",
      "report_id": "ID_000442",
      "company_name": "Tata Consultancy Services",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Manufacturing; Life Sciences and Healthcare; Banking, Financial Services and Insurance; Consumer Business; Communication, Media and Technology; Others",
      "golden_context": "Page 8:\n\nter from the CEO1\nDear Stakeholder,\nIt is my privilege to be writing to you from this desk as we near\n20 years to our listing since August 25, 2004. Over the last two\ndecades, your company’s Revenue and Net Profits have grown\nat a compounded annual growth rate of over 18% each.\nIt has been almost a full year since my transition as CEO,\nand I am happy to report that it has been a very stable and\nseamless experience for all our stakeholders. During this\nperiod, we refocused on our industry and technology expertise,\nemphasized and refreshed the core values that define who we\nare as a company, and doubled down on customer centricity\nand employee empathy.\nWe had a strong finish to the fiscal year FY 2024, with revenue\nfor the year at ₹240,893 crore. This is, a growth of 6.8% over\nthe previous year (3.4% in constant currency). Demand for\nour services showed remarkable resilience as macroeconomic\nuncertainties and geopolitical volatilities continued in major\nmarkets through the year.\nThis growth came with an industry leading operating margin of\n24.6%2\n. More importantly we exited the year with a quarterly\noperating margin of 26% in Q4, demonstrating our commitment\nto the margin band of 26% to 28%. Our Net Margin was at\n19.3%2\n.\nThe Earnings Per Share was at ₹127.742\n, a growth of 10.9% over\nthe prior year.\nAmong the Business Segments, Manufacturing grew 10.6%, Life\nSciences and Healthcare grew 8.7%, Banking, Financial Services\nand Insurance grew 5.6%, Consumer Business grew 4.9%,\nCommunication, Media and Technology grew 4.6%, while Others\ngrew 14.5% (YoY in reported currency).\nAmong geographies, growth was led by emerging markets: Latin\nAmerica grew 21.1%, India grew 20.3%, Middle East & Africa\ngrew 14.8% while Asia Pacific grew 4.0%. The UK grew 17.7%,\nContinental Europe grew 6.5%. North America grew 2.3% (YoY in\nreported currency).\nWe are seeing strong deal momentum across markets resulting\nin double-digit growth in our TCV of US$ 42.7 billion, which\nreflects our deepening partnership with our clients and gives us\noptimism for the medium to long term growth outlook.\nIn keeping with our capital allocation policy of returning\nsubstantial free cashflow to shareholders, the Board has\nrecommended a final dividend of ₹28 per share, bringing the\ntotal dividend for the year to ₹73 per share. The company also\nsuccessfully completed its fifth buyback program, distributing\n₹17,000 crore to shareholders. For the full year, the company’s\nshareholder payout was ₹47,445 crore, which will be our largest\npayout to date. Our average shareholder payout has been more\nthan 100% during the last 5 years.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_cash_flow",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 952.68, investing: -461.3, financing: -1505.14 (in lakhs)",
      "golden_context": "Page 19-20:\n\nStatement of Cash Flow\n(` in lakhs)\nFor the year ended\nMarch 31, 2025\nFor the year ended\nMarch 31, 2024\nCASH FLOWS FROM OPERATING ACTIVITIES\nProfit for the year Adjustments for:\nDepreciation and amortisation expenses Bad debts and advances written off, allowance on trade receivables and\nadvances (net)\nNet gain on disposal of property, plant and equipment Net gain on disposal / fair valuation of investments Interest income Finance costs Operating profit before working capital changes Net Change in:\nInventories Trade receivables\nBilled Unbilled Loans and Other financial assets Other assets Trade payables Unearned and deferred revenue Other financial liabilities Other liabilities and provisions Cash flows generated from operations Taxes paid (net of refunds) Net cash flows generated from operating activities CASH FLOWS FROM INVESTING ACTIVITIES\nBank deposits placed Inter-corporate deposits placed\nPurchase of investments Payment for purchase of property, plant and equipment Payment for purchase of intangible assets Proceeds from bank deposits Proceeds from disposal / redemption of investments Proceeds from disposal of property, plant and equipment Interest received Net cash flows generated from / (used in) investing activities 3,314.18 289.68 168.55 0.00 (543.56) (457.71) 0.64 3,251.37\n214.96\n39.00\n(11.37)\n(344.21)\n(412.62)\n1.62\n2,771.78 7.33 (1,037.61) 82.77 410.09 (13.19) 741.76 (15.76) (877.45) (108.38) 2,738.75\n0.03\n1,881.19\n(139.85)\n(199.75)\n(172.19)\n(609.03)\n(14.87)\n2,906.60\n164.83\n1,961.34 (1,008.66) 6,555.71\n(920.56)\n952.68 5,635.15\n(6,900.00) 0.00 (22,350.00) (143.46) (139.48) 5,700.00 22,932.30 0.00 439.34 (6,698.00)\n1,000.00\n(14,600.00)\n(241.08)\n(111.96)\n4,998.00\n12,190.11\n11.37\n363.50\n(461.30) (3,088.06)\nBack to content\nSubsidiary Financials 2024-25\n1.16\nAPTOnline Limited\n(` in lakhs)\nFor the year ended\nMarch 31, 2025\nFor the year ended\nMarch 31, 2024\nCASH FLOWS FROM FINANCING ACTIVITIES\nInterest paid Dividend paid Net cash flows used in financing activities Net change in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year (refer Note 6(c)) (0.64) (1,504.50) (1.62)\n(973.50)\n(1,505.14) (975.12)\n(1,013.76) 2,341.09 1,571.97\n769.12\n1,327.33 2,341.09\nNOTES FORMING PART OF THE FINANCIAL STATEMENTS 1-23",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_company_type",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 21:\n\nart of the Financial Statements\n1) Corporate information\nAPTOnline Limited (“formerly APOnline Limited”) was incorporated on September 25, 2002 and is jointly promoted by\nTata Consultancy Services Limited (TCS) and Andhra Pradesh Technology Services Limited (APTS), a corporation wholly\nowned by the Government of Andhra Pradesh (GOAP). The Company carries on the business of development, maintenance\nand management of the APONLINE portal for providing web-based services by Government to citizen, Government to\nbusiness and other portfolio services of Government.\nThe state of Telangana was carved out of the State of Andhra Pradesh, pursuant to Andhra Pradesh Reorganisation\nAct, 2014. Presently, the Company continues to serve both the states of Telangana and Andhra Pradesh.\nThe Company is unlisted public limited company incorporated and domiciled in India. The address of its registered office\nis Synergy Park (Non-SEZ Campus), Sarayu, SGA-Z4, Gachibowli, Hyderabad-500032. Tata Consultancy Services Limited\n(‘TCS’), the holding company, owns 89% of the Company’s equity share capital. Tata Sons Pvt Limited is the ultimate parent\ncompany.\nThe name of the Company has been changed from APOnline Limited to APTOnline Limited with effect from April 2, 2016.\nThe Board of Directors approved the financial statements for the year ended March 31, 2025 and authorised for issue on\n12th May 2025.\n2) Statement of compliance\nThese financial statements have been prepared in accordance with the Indian Accounting Standards (referred to as\n“Ind AS”) as prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards)\nRules as amended from time to time.\n3) Basis of prep",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_key_financials",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue from operations: 16716.1, profit: 2454.6 (in lakhs)",
      "golden_context": "Page 17:\n\nStatement of Profit and Loss\n(` in lakhs)\nNote Year ended\nMarch 31, 2025\nYear ended\nMarch 31, 2024\n10 11 12(a) 12(b) 12(c) 13 12(d) 783.84\n17,748.37 17,190.00\n2,896.88 10,094.94 230.08 7.33 0.64 289.68 914.64 2,802.58\n9,874.51\n325.08\n0.03\n1.62\n214.96\n719.85\n14,434.19 13,938.63\nRevenue from operations 9 16,716.10 16,406.16\n1,032.27 Other income TOTAL INCOME Expenses:\nEmployee benefits expenses Direct costs Purchases of stock-in-trade Changes in inventories of stock-in-trade Finance costs Depreciation and amortisation expense Other expenses TOTAL EXPENSES PROFIT BEFORE TAX Tax expense:\nCurrent tax Deferred tax TOTAL TAX EXPENSE PROFIT FOR THE YEAR OTHER COMPREHENSIVE INCOME (OCI) Items that will not be reclassified subsequently to profit or loss:\nRemeasurement of defined employee benefit plans Income-tax on items that will not be reclassified subsequently\nto profit or loss\nTOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) TOTAL COMPREHENSIVE INCOME FOR THE YEAR Earnings per equity share :- Basic and diluted (`) Weighted average number of equity shares NOTES FORMING PART OF THE FINANCIAL STATEMENTS 14 14 3,314.18 910.78 (51.20) 859.58 3,251.37\n810.64\n25.92\n836.56\n2,454.60 2,414.81\n2,454.60 (45.91) 11.56 2,414.81\n(11.71)\n2.95\n(34.35) (8.76)\n2,420.25 2,406.05\n15 1-23\n138.68 1,770,000 136.43\n1,770,000\nAs per our report of even date attached For K B J & ASSOCIATES\nChartered Accountants\nFirm’s registration number : 114934W\nKaushik B. Joshi\nProprietor\nMembership number : 048889\nMumbai\nDate: 12th May 2025\nFor and on behalf of the Board\nG S Lakshmi Narayanan\nDirector\nDIN:07982712\nDate: 12th May 2025\nV Rajanna\nDirector\nDIN:01280277\nBack to content\nSubsidiary Financials 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_revenue",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue: 16716.1 lakhs",
      "golden_context": "Page 17:\n\nStatement of Profit and Loss\n(` in lakhs)\nNote Year ended\nMarch 31, 2025\nYear ended\nMarch 31, 2024\n10 11 12(a) 12(b) 12(c) 13 12(d) 783.84\n17,748.37 17,190.00\n2,896.88 10,094.94 230.08 7.33 0.64 289.68 914.64 2,802.58\n9,874.51\n325.08\n0.03\n1.62\n214.96\n719.85\n14,434.19 13,938.63\nRevenue from operations 9 16,716.10 16,406.16\n1,032.27 Other income TOTAL INCOME Expenses:\nEmployee benefits expenses Direct costs Purchases of stock-in-trade Changes in inventories of stock-in-trade Finance costs Depreciation and amortisation expense Other expenses TOTAL EXPENSES PROFIT BEFORE TAX Tax expense:\nCurrent tax Deferred tax TOTAL TAX EXPENSE PROFIT FOR THE YEAR OTHER COMPREHENSIVE INCOME (OCI) Items that will not be reclassified subsequently to profit or loss:\nRemeasurement of defined employee benefit plans Income-tax on items that will not be reclassified subsequently\nto profit or loss\nTOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) TOTAL COMPREHENSIVE INCOME FOR THE YEAR Earnings per equity share :- Basic and diluted (`) Weighted average number of equity shares NOTES FORMING PART OF THE FINANCIAL STATEMENTS 14 14 3,314.18 910.78 (51.20) 859.58 3,251.37\n810.64\n25.92\n836.56\n2,454.60 2,414.81\n2,454.60 (45.91) 11.56 2,414.81\n(11.71)\n2.95\n(34.35) (8.76)\n2,420.25 2,406.05\n15 1-23\n138.68 1,770,000 136.43\n1,770,000\nAs per our report of even date attached For K B J & ASSOCIATES\nChartered Accountants\nFirm’s registration number : 114934W\nKaushik B. Joshi\nProprietor\nMembership number : 048889\nMumbai\nDate: 12th May 2025\nFor and on behalf of the Board\nG S Lakshmi Narayanan\nDirector\nDIN:07982712\nDate: 12th May 2025\nV Rajanna\nDirector\nDIN:01280277\nBack to content\nSubsidiary Financials 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_revenue_growth",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 16716.1 lakhs, prior year: 16406.16 lakhs",
      "golden_context": "Page 17:\n\nStatement of Profit and Loss\n(` in lakhs)\nNote Year ended\nMarch 31, 2025\nYear ended\nMarch 31, 2024\n10 11 12(a) 12(b) 12(c) 13 12(d) 783.84\n17,748.37 17,190.00\n2,896.88 10,094.94 230.08 7.33 0.64 289.68 914.64 2,802.58\n9,874.51\n325.08\n0.03\n1.62\n214.96\n719.85\n14,434.19 13,938.63\nRevenue from operations 9 16,716.10 16,406.16\n1,032.27 Other income TOTAL INCOME Expenses:\nEmployee benefits expenses Direct costs Purchases of stock-in-trade Changes in inventories of stock-in-trade Finance costs Depreciation and amortisation expense Other expenses TOTAL EXPENSES PROFIT BEFORE TAX Tax expense:\nCurrent tax Deferred tax TOTAL TAX EXPENSE PROFIT FOR THE YEAR OTHER COMPREHENSIVE INCOME (OCI) Items that will not be reclassified subsequently to profit or loss:\nRemeasurement of defined employee benefit plans Income-tax on items that will not be reclassified subsequently\nto profit or loss\nTOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) TOTAL COMPREHENSIVE INCOME FOR THE YEAR Earnings per equity share :- Basic and diluted (`) Weighted average number of equity shares NOTES FORMING PART OF THE FINANCIAL STATEMENTS 14 14 3,314.18 910.78 (51.20) 859.58 3,251.37\n810.64\n25.92\n836.56\n2,454.60 2,414.81\n2,454.60 (45.91) 11.56 2,414.81\n(11.71)\n2.95\n(34.35) (8.76)\n2,420.25 2,406.05\n15 1-23\n138.68 1,770,000 136.43\n1,770,000\nAs per our report of even date attached For K B J & ASSOCIATES\nChartered Accountants\nFirm’s registration number : 114934W\nKaushik B. Joshi\nProprietor\nMembership number : 048889\nMumbai\nDate: 12th May 2025\nFor and on behalf of the Board\nG S Lakshmi Narayanan\nDirector\nDIN:07982712\nDate: 12th May 2025\nV Rajanna\nDirector\nDIN:01280277\nBack to content\nSubsidiary Financials 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000443_segments",
      "report_id": "ID_000443",
      "company_name": "Tata Consultancy Services",
      "year": 2025,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "1) Banking, Financial Services and Insurance 2) Others such as Retail and Consumer Business, Manufacturing,\nTelecom, Media and entertainment, Hi-tech.",
      "golden_context": "Page 246:\n\notes forming part of the financial statements\n18 SEGMENT INFORMATION\nOperating segments are defined as components of an enterprise for which discrete financial information is available\nthat is evaluated regularly by the chief operating decision maker, in deciding how to allocate resources and assessing\nperformance. The Group’s chief operating decision maker is the Chief Executive Officer and Managing Director.\nThe Company has identified business segments (industry practice) as reportable segments. The business segments\ncomprise: 1) Banking, Financial Services and Insurance 2) Others such as Retail and Consumer Business, Manufacturing,\nTelecom, Media and entertainment, Hi-tech.\nRevenue and expenses directly attributable to segments are reported under each reportable segment. Expenses which are\nnot directly identifiable to each reporting segment have been allocated on the basis of associated revenue of the segment\nand manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as\nunallocable expenses.\nThe assets and liabilities of the Company are used interchangeably amongst segments. Allocation of such assets and\nliabilities is not practicable and any forced allocation would not result in any meaningful segregation. Hence assets and\nliabilities have not been identified to any of the reportable segments.\nSummarised segment information for the year ended March 31, 2025 is as follows:\nYear ended March 31, 2025\n(` in lakhs)\nParticulars Business segments\nBanking,\nFinancial Services\nand Insurance\n121,137 20,331 Others Total\n9,616 763 130,753\n21,094\n3,259\n17,835\n3,869\nRevenue Segment result Total Unallocable expenses ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_cash_flow",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "324487 Mn free cash flow",
      "golden_context": "Page 65:\n\nLiquidity & Funding and Ratings\nAs on March 31, 2022, the Company had cash and cash\nequivalents of `60,959 Mn and short-term investments\nof `8,614 Mn. During the year ended March 31, 2022,\nthe Company generated operating free cash flow of\n`324,487 Mn. The consolidated net debt, excluding lease\nobligations, stood at `1,235,439 Mn as on March 31,\n2022 compared to `1,155,124 Mn as on March 31, 2021.\nConsolidated net debt for the Company, including the impact\nof leases, stood at `1,603,073 Mn as on March 31, 2022. The\nNet Debt-EBITDA ratio (USD terms LTM), including the impact\nof leases as on March 31, 2022 was 2.70x as compared to\n3.26x as on March 31, 2021. The Net Debt-Equity ratio was\n2.41x as on March 31, 2022 as compared to 2.52x as on\nMarch 31, 2021.\n› During the year, Airtel successfully completed application\nmoney leg of Rights Issue of upto `209,874 Mn with a\nsubscription of approx. 1.44x, overbid by both public and\npromoter/promoter group. Airtel allotted 392,287,662\nRights Equity Shares to the eligible applicants, with `133.75\nper share paid on application and balance to be paid in\ntwo more additional calls as maybe decided by the Board/\nCommittee of the Board of the Company from time to time.\n› Airtel and Google to partner to help grow India’s digital\necosystem: Google is to invest upto $1 Bn in partnership\nwith Airtel as part of its Google for India Digitization\nFund. The deal includes an investment of $700 Mn to\nacquire 1.28% ownership in Airtel and upto $300 Mn\ntowards potential multi-year commercial agreements.\nThe partnership will focus on enabling affordable access\nt",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_company_type",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nCUSTOMER OBSESSED\nIntegrated Report and Annual Financial Statements 2021-22\nBharti Airtel Limited\nKey highlights FY 2021-22",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_key_financials",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 1165469Mn, EBITDA 581103Mn",
      "golden_context": "Page 2:\n\nKey highlights FY 2021-22\nFinancial\nConsolidated\nD1,165,469 Mn\nRevenue\n16%\nD581,103 Mn\nEBITDA\n26%\nCUSTOMER OBSESSED.\nStandalone\nD706,419 Mn\nFUTURE READY. FUTURE READY.\nD355,984 Mn\nRevenue\nEBITDA\n10%\n24%\nD209,874 Mn*\nRaised through Rights Issue\n*25% already received as application money\nHighest ever\nConsolidated revenue\nUpto $1 Bn\nAnnounced investments by Google\nIndia’s\nfirst 5G\ntrial in 700 MHz band\nrural trial\ncloud gaming\nexperience\nD243,336 Mn\nPrepayment of deferred\nspectrum liabilities\nCRISIL AA+/Stable\nUpgraded long-term credit rating\nCustomer Base\n491.26 Mn\nAirtel customer base\n+4% YoY\n326.04 Mn\nMobile Services (India)\n+1% YoY\n17.56 Mn\nDigital TV Services\n-1% YoY\n4.48 Mn\nHomes Services\n+46% YoY\n128.43 Mn\nAfrica\n+9% YoY\nIf there is one defining trait that\nhas marked us out in the crowd,\nit is our complete obsession\nwith the customer. Be it the\nbeginning of a normal working\nday at Airtel, or the seeding\nof an idea that translates into\nmomentous change for the\nindustry, our starting point is\nalways the customer.\nWe aspire to create a compelling experience for our\ncustomers across all our services and touch points, and\neliminate anything that compromises its delivery.\nThis has been the reason we have channelled our\nattention to adopting technologies and creating\ninfrastructure that support and sustain our high-speed\nnetwork, ringing in innovations that delight our customers\nand creating teams that understand customer needs.\nThis has made us a top global communications solutions\nprovider, ready to lead the digital future from the front.\nOur focused investments in technology, spectrum and\ninfrastructure in India have created a digital superhighway\nthrough which greater change and prosperity are now\nreaching the people of the nation.\nOn the back of our core strengths around Data,\nDistribution, Payments and Network, we have been\nmaking significant progress in building a strong digital\necosystem, which has now started to move the needle in\nterms of the revenue contribution.\nOnce again, our customer obsession has been our\nlodestar for these changes. We began early, retracing\nthe customer journey to understand their preferences\nand conveniences in order to launch a bouquet of digital\nservices that give our customers a differentiated digital\nexperience, and ensure a superior customer lifetime value.\nOur flywheel of digital services, be it the Airtel Payments\nBank, Wynk Music, Airtel Ads, Airtel IQ or Nxtra by Airtel,\nhold out unique value proposition for the customer and\nare now mature enough to be counted as unicorns in their\nown right. In all this, our focus has been on giving our\ncustomers an omni-channel presence; our One customer\nOne Airtel is an initiative in that direction.\nWe have not stopped with that. Post building India’s first\ncommercial 4G network, we are now cementing India’s\ndigital highways by leading the sector on 5G. Working with\nour partners, we have already tested and demonstrated\nthe 5G readiness of our network, and held several\nuse case demonstrations for our retail and enterprise\ncustomers. They can use the network to create new\nbusiness models of tomorrow.\nOur customer obsession, which has led us on to expand\nARPUs and develop steady revenue streams, is backed\nby a robust balance sheet and a leaner capital structure.\nTimely fundraise, high-cost debt prepayment and\nstrategic monetisation of assets keep us well capitalised\nfor our growth journey.\nWith our infrastructure, adoption of futuristic\ntechnologies, innovative and differentiated solutions\nand an overarching sustainability vision, we are\nfuture ready to deliver sustained value for our\ncustomers and stakeholders as ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_revenue",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue: 1165469Mn",
      "golden_context": "Page 2:\n\nKey highlights FY 2021-22\nFinancial\nConsolidated\nD1,165,469 Mn\nRevenue\n16%\nD581,103 Mn\nEBITDA\n26%\nCUSTOMER OBSESSED.\nStandalone\nD706,419 Mn\nFUTURE READY. FUTURE READY.\nD355,984 Mn\nRevenue\nEBITDA\n10%\n24%\nD209,874 Mn*\nRaised through Rights Issue\n*25% already received as application money\nHighest ever\nConsolidated revenue\nUpto $1 Bn\nAnnounced investments by Google\nIndia’s\nfirst 5G\ntrial in 700 MHz band\nrural trial\ncloud gaming\nexperience\nD243,336 Mn\nPrepayment of deferred\nspectrum liabilities\nCRISIL AA+/Stable\nUpgraded long-term credit rating\nCustomer Base\n491.26 Mn\nAirtel customer base\n+4% YoY\n326.04 Mn\nMobile Services (India)\n+1% YoY\n17.56 Mn\nDigital TV Services\n-1% YoY\n4.48 Mn\nHomes Services\n+46% YoY\n128.43 Mn\nAfrica\n+9% YoY\nIf there is one defining trait that\nhas marked us out in the crowd,\nit is our complete obsession\nwith the customer. Be it the\nbeginning of a normal working\nday at Airtel, or the seeding\nof an idea that translates into\nmomentous change for the\nindustry, our starting point is\nalways the customer.\nWe aspire to create a compelling experience for our\ncustomers across all our services and touch points, and\neliminate anything that compromises its delivery.\nThis has been the reason we have channelled our\nattention to adopting technologies and creating\ninfrastructure that support and sustain our high-speed\nnetwork, ringing in innovations that delight our customers\nand creating teams that understand customer needs.\nThis has made us a top global communications solutions\nprovider, ready to lead the digital future from the front.\nOur focused investments in technology, spectrum and\ninfrastructure in India have created a digital superhighway\nthrough which greater change and prosperity are now\nreaching the people of the nation.\nOn the back of our core strengths around Data,\nDistribution, Payments and Network, we have been\nmaking significant progress in building a strong digital\necosystem, which has now started to move the needle in\nterms of the revenue contribution.\nOnce again, our customer obsession has been our\nlodestar for these changes. We began early, retracing\nthe customer journey to understand their preferences\nand conveniences in order to launch a bouquet of digital\nservices that give our customers a differentiated digital\nexperience, and ensure a superior customer lifetime value.\nOur flywheel of digital services, be it the Airtel Payments\nBank, Wynk Music, Airtel Ads, Airtel IQ or Nxtra by Airtel,\nhold out unique value proposition for the customer and\nare now mature enough to be counted as unicorns in their\nown right. In all this, our focus has been on giving our\ncustomers an omni-channel presence; our One customer\nOne Airtel is an initiative in that direction.\nWe have not stopped with that. Post building India’s first\ncommercial 4G network, we are now cementing India’s\ndigital highways by leading the sector on 5G. Working with\nour partners, we have already tested and demonstrated\nthe 5G readiness of our network, and held several\nuse case demonstrations for our retail and enterprise\ncustomers. They can use the network to create new\nbusiness models of tomorrow.\nOur customer obsession, which has led us on to expand\nARPUs and develop steady revenue streams, is backed\nby a robust balance sheet and a leaner capital structure.\nTimely fundraise, high-cost debt prepayment and\nstrategic monetisation of assets keep us well capitalised\nfor our growth journey.\nWith our infrastructure, adoption of futuristic\ntechnologies, innovative and differentiated solutions\nand an overarching sustainability vision, we are\nfuture ready to deliver sustained value for our\ncustomers and stakeholders as ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_revenue_growth",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Growth: 16%",
      "golden_context": "Page 2:\n\nKey highlights FY 2021-22\nFinancial\nConsolidated\nD1,165,469 Mn\nRevenue\n16%\nD581,103 Mn\nEBITDA\n26%\nCUSTOMER OBSESSED.\nStandalone\nD706,419 Mn\nFUTURE READY. FUTURE READY.\nD355,984 Mn\nRevenue\nEBITDA\n10%\n24%\nD209,874 Mn*\nRaised through Rights Issue\n*25% already received as application money\nHighest ever\nConsolidated revenue\nUpto $1 Bn\nAnnounced investments by Google\nIndia’s\nfirst 5G\ntrial in 700 MHz band\nrural trial\ncloud gaming\nexperience\nD243,336 Mn\nPrepayment of deferred\nspectrum liabilities\nCRISIL AA+/Stable\nUpgraded long-term credit rating\nCustomer Base\n491.26 Mn\nAirtel customer base\n+4% YoY\n326.04 Mn\nMobile Services (India)\n+1% YoY\n17.56 Mn\nDigital TV Services\n-1% YoY\n4.48 Mn\nHomes Services\n+46% YoY\n128.43 Mn\nAfrica\n+9% YoY\nIf there is one defining trait that\nhas marked us out in the crowd,\nit is our complete obsession\nwith the customer. Be it the\nbeginning of a normal working\nday at Airtel, or the seeding\nof an idea that translates into\nmomentous change for the\nindustry, our starting point is\nalways the customer.\nWe aspire to create a compelling experience for our\ncustomers across all our services and touch points, and\neliminate anything that compromises its delivery.\nThis has been the reason we have channelled our\nattention to adopting technologies and creating\ninfrastructure that support and sustain our high-speed\nnetwork, ringing in innovations that delight our customers\nand creating teams that understand customer needs.\nThis has made us a top global communications solutions\nprovider, ready to lead the digital future from the front.\nOur focused investments in technology, spectrum and\ninfrastructure in India have created a digital superhighway\nthrough which greater change and prosperity are now\nreaching the people of the nation.\nOn the back of our core strengths around Data,\nDistribution, Payments and Network, we have been\nmaking significant progress in building a strong digital\necosystem, which has now started to move the needle in\nterms of the revenue contribution.\nOnce again, our customer obsession has been our\nlodestar for these changes. We began early, retracing\nthe customer journey to understand their preferences\nand conveniences in order to launch a bouquet of digital\nservices that give our customers a differentiated digital\nexperience, and ensure a superior customer lifetime value.\nOur flywheel of digital services, be it the Airtel Payments\nBank, Wynk Music, Airtel Ads, Airtel IQ or Nxtra by Airtel,\nhold out unique value proposition for the customer and\nare now mature enough to be counted as unicorns in their\nown right. In all this, our focus has been on giving our\ncustomers an omni-channel presence; our One customer\nOne Airtel is an initiative in that direction.\nWe have not stopped with that. Post building India’s first\ncommercial 4G network, we are now cementing India’s\ndigital highways by leading the sector on 5G. Working with\nour partners, we have already tested and demonstrated\nthe 5G readiness of our network, and held several\nuse case demonstrations for our retail and enterprise\ncustomers. They can use the network to create new\nbusiness models of tomorrow.\nOur customer obsession, which has led us on to expand\nARPUs and develop steady revenue streams, is backed\nby a robust balance sheet and a leaner capital structure.\nTimely fundraise, high-cost debt prepayment and\nstrategic monetisation of assets keep us well capitalised\nfor our growth journey.\nWith our infrastructure, adoption of futuristic\ntechnologies, innovative and differentiated solutions\nand an overarching sustainability vision, we are\nfuture ready to deliver sustained value for our\ncustomers and stakeholders as ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000444_segments",
      "report_id": "ID_000444",
      "company_name": "Bharti Airtel",
      "year": 2022,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Mobile Services, Home Services, Digital TV Services, Airtel Business",
      "golden_context": "Page 4:\n\napitals\nFinancial Capital\nPage 64\nManufactured Capital\nPage 68\nIntellectual Capital\nPage 78\nHuman Capital\nPage 82\nSocial & Relationship Capital\nPage 96\nNatural Capital\nPage 106\nForward-looking statements\nSome information in this report may contain forward-looking\nstatements which include statements regarding Company’s\nexpected financial position and results of operations, business plans\nand prospects etc. and are generally identified by forward-looking\nwords such as “believe,” “plan,” “anticipate,” “continue,” “estimate,”\n“expect,” “may,” “will” or other similar words. Forward-looking\nstatements are dependent on assumptions or basis underlying\nsuch statements. We have chosen these assumptions or basis in\ngood faith, and we believe that they are reasonable in all material\nrespects. However, we caution that actual results, performances\nor achievements could differ materially from those expressed or\nimplied in such forward-looking statements. We undertake no\nobligation to update or revise any forward-looking statement,\nwhether as a result of new information, future events, or otherwise.\nFair usage of third-party trademarks\nAll third-party trademarks referenced by Bharti Airtel Limited herein\nremain the property of their respective owners. Any references\nby Airtel to any third-party trademarks in this report, is merely\nbeing used to identify the corresponding engagement that Airtel\nhas entered into with the brand/trademark owners and shall be\nconsidered fair use under trademark law.\nSunil Bharti Mittal\nChairman\nGopal Vittal\nManaging Director & CEO\n4 Bharti Airtel Limited\nIntegrated Report and Annual Financial Statements 2021-22\nOur Stakeholders\nCustomers\nInvestors\nSuppliers\nEmployees\nBusiness Segments\nMobile Services Digital TV Services Channel Partners\nNetwork Partners\nRegulatory Bodies\nCommunity/NGOs\nHomes Services\nAirtel Business",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_cash_flow",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 435'826m, investing: -300063m, financing: -125004m",
      "golden_context": "Page 256-257:\n\n\nStandalone Statement of Cash Flows\n(All amounts are in millions of Indian Rupee)\nCash flows from operating activities\nProfit / (loss) before tax\nAdjustments for:\nDepreciation and amortisation expenses\nFinance costs\nInterest income\nDividend income\nNet gain on derivative financial instruments\nNet gain on fair value through profit or loss (FVTPL) investments\nExceptional items (net)\nProfit on sale of property, plant and equipment\nEmployee share - based payment expense\nProvision for doubtful debts / bad debts written off\nOther non - cash items\nOperating cash flows before changes in assets and liabilities\nChanges in assets and liabilities\nTrade receivables\nTrade payables\ninventoried\nProvisions\nOther financial and non-financial liabilities\nOther financial and non-financial assets\nNet cash generated from operations before tax\nIncome tax (paid) / refund - net\nNet cash generated from operating activities (a)\nCash flows from investing activities\nPurchase of property, plant and equipment and capital-work-in-proqress\nProceeds from sale of property, plant and equipment\nPurchase of intangible assets and intangible assets under development\nPayment towards spectrum (including deferred payment liability)*\nProceeds from sale of spectrum\nProceeds from sale of business (refer note 4 (v))\n(Purchase) / sale of current investments (net)\nPurchase of non-current investments\nInvestment in subsidiaries, associates and joint venture\nLoan given to subsidiaries\nLoan repayment by subsidiaries and joint venture\nDividend received\nInterest received\nNet cash used in investing activities (b)\nFor the year ended\nMarch 31, 2023\nMarch 31, 2022#\n12,693\n263,550\n143,973\n(2,499)\n(15,181)\n(3,502)\n(1,987)\n42,764\n(61)\n961\n2,741\n797\n444,249\n3,738\n(11,033)\n(20)\n3,422\n6,138\n(8,778)\n437,716\n(1,890)\n435,826\n(161,738)\n827\n(2,826)\n(83,124)\n(25,238)\n(253)\n(11,832)\n(47,908)\n15,668\n15,181\n1,180\n(300,063)\n(42,557)\n243,298\n131,557\n(1,428)\n(450)\n(87)\n(975)\n9,702\n(243)\n617\n1,737\n1,145\n342,316\n1,688\n14,720\n(113)\n3,764\n(2,372)\n4,206\n364,209\n3,335\n367,544\n(167,367)\n890\n(6,778)\n(174,442)\n10,048\n663\n31,195\n(89)\n(26,535)\n(56,050)\n54,940\n450\n1,378\n(331,697)\n256\nBharti Airtel Limited\nCorporate Overview\nManagement Discussion & Analysis\nStatutory Reports\nFinancial Statements\nStandalone Statement of Cash Flows\n(All amounts are in millions of Indian Rupee)\nFor the year ended\nMarch 31, 2023\nMarch 31, 2022#\nCash flows from financing activities\nNet Proceeds for issue of shares (refer note 4(ii) and 4(vii))\nProceeds from borrowings\nRepayment of borrowings\nPayment of lease liabilities\n(Repayment of) / Proceeds from short-term borrowings (net)\nInterest and other finance charges paid\nProceeds from exercise of share options\nDividend paid to shareholders\nDividend paid\nNet cash used in financing activities (c)\nNet increase / (decrease) in cash and cash equivalents during the year\n(a+b+c)\nAdd: Cash and cash equivalents as at the beginning of the year\nCash and cash equivalents as at the end of the year (refer note 14)\n52,242\n57,383\n(68,124)\n(44,499)\n(69,501)\n(34,878)\n3\n(16,984)\n(646)\n(125,004)\n10,759\n3,102\n13,861\n52,226\n106,613\n(111,389)\n(49,845)\n64,824\n(204.427)\n(898)\n(42,889)\n(7,042)\n10,144\n3,102\n#Refer note 4(i)\n*Cash flows towards spectrum acquisitions are based on the timing of payouts to Department of Telecommunications ('DoT') (viz. upfront / deferred).\nThe above Statement of Cash Flows has been prepared under the 'indirect method' as set out in Ind AS 7 'Statement of Cash\nFlows'.\nPlease refer note 36(1)(vi), for reconciliation of liabilities whose cash flow movements are disclosed as part of financing\nactivities in the Statement of Cash Flows.\nPlease refer note 36(1)(vii) for non-cash investing and financing transactions that are excluded from Statement of Cash Flows.\nThe accompanying notes 1 to 43 form an integral part of these Standalone Financial Statements.\nAs per our report of even date\nFor and on behalf of the Board of Directors of Bharti Airtel Limited\nFor Deloitte Haskins & Sells LLP\nChartered Accountants\n(Firm's Registration No. 117366W /W-100018)\nVijay Agarwal\nPartner\nMembership No. 094468\nSunil Bharti Mittal\nChairman\nDIN: 00042491\nGopal Vittal\nManaging Director & CEO\nDIN: 02291778\nDate: May 16, 2023\nPlace: New Delhi\nSoumen Ray\nChief Financial Officer\n(India & South Asia)\nPankaj Tewari\nCompany Secretary\nIntegrated Report and Annual Financial Statements 2022-23\n257\n\n\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\n1. Corporate information\nBharti Airtel Limited ('the Company') is domiciled and\nincorporated in India as a public limited company listed\non the National Stock Exchange of India Limited and the\nBSE Limited. The registered office of the Company is\nsituated at Airtel Center, Plot no. 16, Udyog Vihar, Phase\n- IV, Gurugram - 122 015, Haryana, India.\nThe Company is principally engaged in provision of\ntelecommunication services in India. The details as\nto the services provided by the Company are further\nprovided in note 23.\n2. Summary of significant accounting policies\nBasis of preparation\nThese Standalone Financial Statements ('Financial\nStatements') have been prepared to comply in all material\nrespects with the Indian Accounting Standards ('Ind AS')\nas notified by the Ministry of Corporate Affairs ('MCA')\nunder Section 133 of the Companies Act, 2013 ('Act'),\nread together with Rule 3 of the Companies (Indian\nAccounting Standards) Rules, 2015 (as amended from\ntime to time) and other accounting principles generally\naccepted in India.\nThe Financial Statements are approved for issue by the\nCompany's Board of Directors on May 16, 2023.\nThe Financial Statements are based on the classification\nprovisions contained in Ind AS 1, 'Presentation of Financial\nStatements' and Division Il of Schedule III (as amended)\nto the Act. Further, for the purpose of clarity, various\nitems are aggregated in the Standalone Balance Sheet\n('Balance Sheet') and, Standalone Statement of Profit\nand Loss ('Statement of Profit and Loss'). Nonetheless,\nthese items are disaggregated separately in the notes to\nthe Financial Statements, where applicable or required.\nAll the amounts included in the Financial Statements\nare reported in millions of Indian Rupee ('Rupee' or 'F')\nand are rounded off to the nearest million, except per\nshare data and unless stated otherwise. Further, due to\nrounding off, certain amounts are appearing as 'O'.\nThe preparation of the said Financial Statements\nrequires the use of certain critical accounting estimates\nand judgements. It also requires the management\nto exercise judgement in the process of applying the\nCompany's accounting policies. The areas where\nestimates are significant to the Financial Statements.\nor areas involving a higher degree of judgement or\ncomplexity, are disclosed in note 3.\nThe accounting policies, as set out in the following\nparagraphs of this note, have been consistently applied,\nby the Company, to all the periods presented in the said\nFinancial Statements, except in case of adoption of any\nnew standards and amendments during the year.\nTo provide more reliable and relevant information about\nthe effect of certain items in the Balance Sheet and\nStatement of Profit and Loss, the Company has changed\nthe classification of certain items.\nNew amendments adopted during the year\nAmendments to Ind AS\nMCA vide notification\nG.S.R.\n255(E) dated\nMarch 23, 2022 has issued the Companies (Indian\nAccounting Standards) Amendment Rules, 2022 which\namends following Ind AS (as applicable to the Company):\n• Ind AS 103, Business Combinations\n• Ind AS 109, Financial Instruments\n• Ind AS 16, Property, Plant and Equipment\n• Ind AS 37, Provisions, Contingent Liabilities and\nContingent Assets\nThe amendments are applicable for annual periods\nbeginning on or after April 1, 2022, however, these do\nnot have material impact on the Financial Statements\nof the Company.\nAmendments to Ind AS issued but not yet\neffective\nMCA vide notification no. G.S.R. 242(E) dated\nMarch 31, 2023 has issued the Companies (Indian\nAccounting Standards) Amendment Rules, 2023 which\namends following Ind AS (as applicable to the Company):\n• Ind AS 102, Share-based Payments\n• Ind AS 103, Business Combinations\n• Ind AS 107. Financial Instruments: Disclosures\n• Ind AS 109, Financial Instruments\n• Ind AS 115, Revenue from Contracts with Customers\n• Ind AS 1, Presentation of Financial Statements\n• Ind AS 12, Income Taxes\n• Ind AS 8, Accounting Policies, Changes in Accounting\nEstimates and Errors\n• Ind AS 34, Interim Financial Reporting\nThe amendments are applicable for annual periods\nbeginning on or after April 1, 2023. The Company\nhas evaluated the amendments and the impact is not\nexpected to be material.\n258\nBharti Airtel Limited\nCorporate Overview\nManagement Discussion & Analysis\nStatutory Reports\nFinancial Statements\n=\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\n2.1 Basis of measurement\nThe Financial Statements have been prepared on the\naccrual and going concern basis, and the historical\ncost convention except where the Ind AS requires a\ndifferent accounting treatment. The principal variations\nfrom the historical cost convention relate to financial\ninstruments classified as FVTPL or fair value through\nother comprehensive income ('FVTOCI) (refer note\n2.9(b)) and liability for cash-settled awards (refer note\n2.15) - which are measured at fair value.\nFair value measurement\nFair value is the price at the measurement date, at which\nan asset can be sold or a liability can be transferred, in\nan orderly transaction between market participants. The\nCompany's accounting policies require, measurement of\ncertain financial instruments at fair values (either on a\nrecurring or non-recurring basis).\nThe Company is required to classify the fair valuation\nmethod of the financial / non-financial assets and\nliabilities, either measured or disclosed at fair value in\nthe Financial Statements, using a three level fair-value-\nhierarchy (which reflects the significance of inputs\nused in the measurement). Accordingly, the Company\nuses valuation techniques that are appropriate in\nthe circumstances and for which sufficient data is\navailable to measure fair value, maximising the use of\nrelevant observable inputs and minimising the use of\nunobservable inputs.\nhe three levels of the fair-value-hierarchy ar\ndescribed below\nLevel 1: Quoted (unadjusted) prices for identical assets\nor liabilities in active markets\nLevel 2: Significant inputs to the fair value measurement\nare directly or indirectly observable\nLevel 3: Significant inputs to the fair value measurement\nare unobservable.\n2.2 Business combinations\nThe Company accounts for business combinations using\nthe acquisition method of accounting. Accordingly, the\nidentifiable assets acquired and the liabilities assumed\nof the business are recorded at their acquisition date\nfair values (except certain assets and liabilities which are\nrequired to be measured as per the applicable standard).\nThe consideration transferred for the acquisition of a\nbusiness is aggregation of the fair values of the assets\ntransferred, the liabilities incurred and the equity\ninterests issued by the Company in exchange for control\nof the business.\nThe consideration transferred also includes the\nfair value of any asset or liability resulting from a\ncontingent consideration arrangement. Any contingent\nconsideration transferred is recognised at fair value at\nthe acquisition date. Contingent consideration classified\nas an asset or liability is subsequently measured at\nfair value with changes in fair value recognised in\nStatement of Profit and Loss. Contingent consideration\nthat is classified as equity is not re-measured and its\nsubsequent settlement is accounted for within equity.\nAcquisition-related costs are expensed in the period in\nwhich the costs are incurred.\nIf the initial accounting for a business combination\nis incomplete as at the reporting date in which the\ncombination occurs, the identifiable assets and liabilities\nacquired in a business combination are measured at\ntheir provisional fair values at the date of acquisition.\nSubsequently adjustments to the provisional values\nare made retrospectively within the measurement\nperiod, if new information is obtained about facts and\ncircumstances that existed as of the acquisition date\nand, if known, would have affected the measurement of\nthe amounts recognised as of that date or would have\nresulted in the recognition of those assets and liabilities\nas of that date; otherwise the adjustments are recorded\nin the period in which they occur.\nA contingent liability recognised in a business\ncombination is initially measured at its fair value.\nSubsequent to initial recognition, it is measured at the\nhigher of:\n(i)\nthe amount that would be recognised in accordance\nwith Ind AS 37, 'Provisions, Contingent Liabilities\nand Contingent Assets', and\n(i)\nthe amount initially recognised less, where\nappropriate, cumulative amortisation recognised\nin accordance with Ind AS 115 'Revenue from\nContracts with Customers.\n2.3 Common control transactions",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_company_type",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nIntegrated Report and Annual Financial Statements 2022-23\nBharti Airtel Limited\nCUSTOMER OBSESSEDTECHNOLOGY DRIV",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_key_financials",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue 1391448 Mn, EBITDA 717330 Mn",
      "golden_context": "Page 2:\n\nHighlights of FY 2022-23\nFinancial\nConsolidated\nC1,391,448 Mn\nRevenue\n19%\nC717,330 Mn\nEBITDA\n23%\nC83,459 Mn\nNet profit\n96%\nStandalone\nC847,201 Mn\nRevenue\n20%\nC441,477 Mn\nEBITDA\n25%\nCustomer 375.34 Mn\nIndia\n140.05 Mn\nAfrica\n55.57 Mn\nBangladesh\n3.05 Mn\nSri Lanka\nESG\nLow Risk\nImproved Sustainalytics Ratings\n‘BBB’ to ‘A’\nUpgrade in MSCI Ratings\n‘C’ to ‘B’\nUpgrade in CDP Ratings\n Y-o-Y growth\nCUSTOMER OBSESSED\nTECHNOLOGY DRIVEN\nAt Airtel, our vision for a connected,\nshared future lies at the convergence\nof our unbridled customer obsession\nand our relentless pursuit of\ntechnological innovation. It creates a\nsymphony of unparalleled connectivity,\nconvenience and experience while\nenhancing our competitive edge in a\ndynamic world.\nBe it through our cutting-edge digital services and\nsolutions, premiumisation strategy or extensive\nnetwork infrastructure, we are winning together with\nour customers. This reflected in our all-time-high market\nshares across businesses, strong balance sheet and\nhealthy operating cash generation.\nWe are committed to building a robust and extensive\nnetwork infrastructure that supports seamless\nconnectivity. We have deployed the globally recognised\nnon-standalone network architecture to rapidly rollout our\n5G services, ensuring exceptional coverage, lowest total\ncost of ownership and reduced environmental impact.\nOur ‘One Airtel’ transport strategy has catalysed the fiber\nrollout planning and is bringing immense efficiencies.\nIn FY 2022-23, we recorded the highest-ever network\nsite additions, exponential fiber rollout and continued\nbroadband BTS additions. We are harnessing the\npower of our robust platform-based architecture and\nstate-of-the-art capabilities to construct a seamlessly\ninterconnected digital ecosystem, which plays an\ninstrumental role in propelling our digital flywheel forward.\nWe welcome you to experience the difference, as we\nbuild a sustainable future of connectivity together\nwith our customers, powered by technology.\nContents\nCorporate\nOverview\nAbout the Report 04\nAirtel at a Glance 06\nGeographic Presence 08\nChairman’s Message 12\nFrom the MD and CEO’s Desk 14\nBoard of Directors 16\nValue Creation\nValue Creation Model 38\nOperating Context 40\nMateriality Assessment and\nStakeholder Engagement 42\nESG Approach 50\nRisk and Mitigation Framework 52\nPerformance\nDuring the Year\nKey Performance Indicators 24\nSegment-wise Performance 26\nQuarterly Strategic Progress 30\nAwards and Accolades 34\nCorporate Social Responsibility 62\nCapitals\nFinancial Capital 72\nManufactured Capital 78\nIntellectual Capital 86\nHuman Capital 88\nSocial and Relationship Capital 98\nNatural Capital 104\nGRI Content Index 115\nAssurance Statement 118\nManagement Discussion & Analysis 120\nStatutory Reports 146\nFinancial Statements 240",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_revenue",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue 1391448 Mn",
      "golden_context": "Page 2:\n\nHighlights of FY 2022-23\nFinancial\nConsolidated\nC1,391,448 Mn\nRevenue\n19%\nC717,330 Mn\nEBITDA\n23%\nC83,459 Mn\nNet profit\n96%\nStandalone\nC847,201 Mn\nRevenue\n20%\nC441,477 Mn\nEBITDA\n25%\nCustomer 375.34 Mn\nIndia\n140.05 Mn\nAfrica\n55.57 Mn\nBangladesh\n3.05 Mn\nSri Lanka\nESG\nLow Risk\nImproved Sustainalytics Ratings\n‘BBB’ to ‘A’\nUpgrade in MSCI Ratings\n‘C’ to ‘B’\nUpgrade in CDP Ratings\n Y-o-Y growth\nCUSTOMER OBSESSED\nTECHNOLOGY DRIVEN\nAt Airtel, our vision for a connected,\nshared future lies at the convergence\nof our unbridled customer obsession\nand our relentless pursuit of\ntechnological innovation. It creates a\nsymphony of unparalleled connectivity,\nconvenience and experience while\nenhancing our competitive edge in a\ndynamic world.\nBe it through our cutting-edge digital services and\nsolutions, premiumisation strategy or extensive\nnetwork infrastructure, we are winning together with\nour customers. This reflected in our all-time-high market\nshares across businesses, strong balance sheet and\nhealthy operating cash generation.\nWe are committed to building a robust and extensive\nnetwork infrastructure that supports seamless\nconnectivity. We have deployed the globally recognised\nnon-standalone network architecture to rapidly rollout our\n5G services, ensuring exceptional coverage, lowest total\ncost of ownership and reduced environmental impact.\nOur ‘One Airtel’ transport strategy has catalysed the fiber\nrollout planning and is bringing immense efficiencies.\nIn FY 2022-23, we recorded the highest-ever network\nsite additions, exponential fiber rollout and continued\nbroadband BTS additions. We are harnessing the\npower of our robust platform-based architecture and\nstate-of-the-art capabilities to construct a seamlessly\ninterconnected digital ecosystem, which plays an\ninstrumental role in propelling our digital flywheel forward.\nWe welcome you to experience the difference, as we\nbuild a sustainable future of connectivity together\nwith our customers, powered by technology.\nContents\nCorporate\nOverview\nAbout the Report 04\nAirtel at a Glance 06\nGeographic Presence 08\nChairman’s Message 12\nFrom the MD and CEO’s Desk 14\nBoard of Directors 16\nValue Creation\nValue Creation Model 38\nOperating Context 40\nMateriality Assessment and\nStakeholder Engagement 42\nESG Approach 50\nRisk and Mitigation Framework 52\nPerformance\nDuring the Year\nKey Performance Indicators 24\nSegment-wise Performance 26\nQuarterly Strategic Progress 30\nAwards and Accolades 34\nCorporate Social Responsibility 62\nCapitals\nFinancial Capital 72\nManufactured Capital 78\nIntellectual Capital 86\nHuman Capital 88\nSocial and Relationship Capital 98\nNatural Capital 104\nGRI Content Index 115\nAssurance Statement 118\nManagement Discussion & Analysis 120\nStatutory Reports 146\nFinancial Statements 240",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_revenue_growth",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "19% growth",
      "golden_context": "Page 2:\n\nHighlights of FY 2022-23\nFinancial\nConsolidated\nC1,391,448 Mn\nRevenue\n19%\nC717,330 Mn\nEBITDA\n23%\nC83,459 Mn\nNet profit\n96%\nStandalone\nC847,201 Mn\nRevenue\n20%\nC441,477 Mn\nEBITDA\n25%\nCustomer 375.34 Mn\nIndia\n140.05 Mn\nAfrica\n55.57 Mn\nBangladesh\n3.05 Mn\nSri Lanka\nESG\nLow Risk\nImproved Sustainalytics Ratings\n‘BBB’ to ‘A’\nUpgrade in MSCI Ratings\n‘C’ to ‘B’\nUpgrade in CDP Ratings\n Y-o-Y growth\nCUSTOMER OBSESSED\nTECHNOLOGY DRIVEN\nAt Airtel, our vision for a connected,\nshared future lies at the convergence\nof our unbridled customer obsession\nand our relentless pursuit of\ntechnological innovation. It creates a\nsymphony of unparalleled connectivity,\nconvenience and experience while\nenhancing our competitive edge in a\ndynamic world.\nBe it through our cutting-edge digital services and\nsolutions, premiumisation strategy or extensive\nnetwork infrastructure, we are winning together with\nour customers. This reflected in our all-time-high market\nshares across businesses, strong balance sheet and\nhealthy operating cash generation.\nWe are committed to building a robust and extensive\nnetwork infrastructure that supports seamless\nconnectivity. We have deployed the globally recognised\nnon-standalone network architecture to rapidly rollout our\n5G services, ensuring exceptional coverage, lowest total\ncost of ownership and reduced environmental impact.\nOur ‘One Airtel’ transport strategy has catalysed the fiber\nrollout planning and is bringing immense efficiencies.\nIn FY 2022-23, we recorded the highest-ever network\nsite additions, exponential fiber rollout and continued\nbroadband BTS additions. We are harnessing the\npower of our robust platform-based architecture and\nstate-of-the-art capabilities to construct a seamlessly\ninterconnected digital ecosystem, which plays an\ninstrumental role in propelling our digital flywheel forward.\nWe welcome you to experience the difference, as we\nbuild a sustainable future of connectivity together\nwith our customers, powered by technology.\nContents\nCorporate\nOverview\nAbout the Report 04\nAirtel at a Glance 06\nGeographic Presence 08\nChairman’s Message 12\nFrom the MD and CEO’s Desk 14\nBoard of Directors 16\nValue Creation\nValue Creation Model 38\nOperating Context 40\nMateriality Assessment and\nStakeholder Engagement 42\nESG Approach 50\nRisk and Mitigation Framework 52\nPerformance\nDuring the Year\nKey Performance Indicators 24\nSegment-wise Performance 26\nQuarterly Strategic Progress 30\nAwards and Accolades 34\nCorporate Social Responsibility 62\nCapitals\nFinancial Capital 72\nManufactured Capital 78\nIntellectual Capital 86\nHuman Capital 88\nSocial and Relationship Capital 98\nNatural Capital 104\nGRI Content Index 115\nAssurance Statement 118\nManagement Discussion & Analysis 120\nStatutory Reports 146\nFinancial Statements 240",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000445_segments",
      "report_id": "ID_000445",
      "company_name": "Bharti Airtel",
      "year": 2023,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Mobile Services, Home Services, Digital TV Services, Airtel Business",
      "golden_context": "Page 5:\n\nOur business segments\n Mobile Services\n Digital TV Services\n Home Services  Airtel Business\n17\nCountries of presence\nQ\nu\na\nl\ni\nt\ny\nC\nu\ns\nt\no\nm\ne\nr\ns\nB\nr\ni\nl\nl\ni\na\nn\nt\nE\nx\np\ne\nr\ni\ne\nn\nc\ne\n500 Mn+\nCustomers\nAmong\nTop 3*\nGlobal rank in terms of\nconsolidated mobile\nconnections\n21,575\nTotal employees globally\nP e o p l e\n:\nO\nn\ne\nA\ni\nr\nt\ne\nl\nW\na\nr\no\nn\nW\na\ns\nt\ne\nOur strategic\npriorities\nS\ne\nr\nv\ni\nc\ne\ns\na\nt\nS\nc\na\nl\ne\nM\ni\nc\nr\no\nm\na\nr\nk\ne\nt\ni\nn\ng\n95.9",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_cash_flow",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 532'088m, investing: -348'768m, financing: -191'837m",
      "golden_context": "Page 282+283:\n\n\nStandalone Statement of Cash Flows\n(All amounts are in millions of Indian Rupee)\nCash flows from operating activities\nPront netore tax\nAdjustments for:\nDepreciation and amortisation expenses\nFinance costs\nInterest income\nDividend income\nNet loss / (gain) on derivative financial instruments\nNet gain on fair value through profit or loss (FVTPL) investments\nExceptional items (net)\nProfit / (Loss) on sale of property, plant and equipment\nEmployee share based payment expense\nProvision for doubtful debts / bad debts written off\nOther non - cash items\nOperating cash flows before changes in assets and liabilities\nChanges in assets and liabilities\nTrade receivabled\nTrade payables\nInventories\nProvisions\nOther financial and non-financial liabilities\nOther financial and non-financial assets\nNet cash generated from operations before tax\nIncome tax refund /(paid) - (net)\nNet cash generated from operating activities (a)\nCash flows from investing activities\nPurchase of property, plant and equipment and capital-work-in-progress\nProceeds from sale of property, plant and equipment\nPurchase of intanaible assets and intangible assets under develooment\nPayment towards spectrum (including deferred payment liability)*\nProceeds from sale / (purchase) of current investments (net)\nPurchase of non-current investments\nProceeds from sale of non-current investments\nNet proceeds from sale of investment in subsidiary (refer note 4(iv))\nInvestment in subsidiary\nInvestment in associate and joint venture\nLoan aiven to subsidiaries\nLoan renavment ov subsidiaries\nDividend received\nInteract received\nNet cash used in investing activities (b)\nFor the year ended\nMarch 31, 2024\nMarch 31, 2023\n71,161\n291,085\n143,246\n(7,409)\n(525)\n267\n(1,871)\n12,763\n832\n2,535\n1,053\n513,144\n(6,187)\n8,094\n14,366\n12,189\n(12,896)\n528,710\n3,378\n532,088\n(262,354)\n1,113\n(4,260)\n(119,432)\n28,630\n(230)\n69\n144,402\n(144,578)\n(300)\n(20,116)\n20,119\n525\n7,644\n(348,768)\n12,693\n263,550\n143,973\n(2,499)\n(15,181)\n(3,502)\n(1,987)\n42,764\n(61)\n961\n2,741\n797\n444,249\n3.738\n(11,033)\n(20)\n3,422\n6,138\n(8,778)\n437,716\n(1,890)\n435,826\n(161,738)\n827\n(2,826)\n(83,124)\n(25,238)\n(253)\n(11,832)\n(47,908)\n15,668\n15,181\n1,180\n(300,063)\n282\nBharti Airtel Limited\nOverview and\nPerformance\nManagement Discussion\n& Analysis\nStatutory\nReports\nFinancial\nStatements\nStandalone Statement of Cash Flows\n(All amounts are in millions of Indian Rupee)\nFor the year ended\nMarch 31, 2024\nMarch 31, 2023\nCash flows from financing activities\nNet Proceeds from issue of shares (refer note 4(v))\nProceeds from borrowings\nRepayment of borrowings\nPayment of lease liabilities\nProceeds from / (repayment of) of short-term borrowings (net)\nInterest and other finance charges paid*\n3,077\n(40,300)\n(46,620)\n14,576\n(99,813)\n52,242\n57,383\n(68,124)\n(44,499)\n(69,501)\n(34,878)\nProceeds from exercise of share options\nDividend paid to sharenolders\n(22,763)\nDividend paid\nNet cash used in financing activities (c)\n(191,837)\nNet (decrease) / increase in cash and cash equivalents during the year (a+b+c)\n(8,517)\nAdd: Cash and cash equivalents as at the beginning of the year\n13,861\nCash and cash equivalents as at the end of the year (refer note 14)\n5,344\n(16,984)\n(646)\n(125,004)\n10,759\n3,102\n13,861\n*Cash flows towards spectrum acquisitions are based on the timing of payouts to Department of Telecommunications ('DoT') (viz. upfront /\ndeferred/ prepaid).\n#Includes payment of interest towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.\nThe atove Statement of Cash Flows has been prepared under the indirect method\" as set out in ind AS Statement of\nPlease refer note 36(1) (vi), for reconciliation of liabilities whose cash flow movements are disclosed as part of financin\nctivities in the Statement of Cash Flow\nPlease refer note 36(1)(vil, for non-cash investing and financing transactions that are excluded from Statement of Cash Flows.\nThe accompanying notes 1 to 45 form an integral part of these Standalone Financial Statements.\nAs per our report of even date\nFor and on behalf of the Board of Directors of Bharti Airtel Limited\nFor Deloitte Haskins & Sells LLP\nChartered Accountants\n(Firm's Registration No: 117366W/W-100018)\nVijay Agarwal\nPartner\nMembership No: 094468\nDate: May 14, 2024\nPlace: Gurugram, India\nSunil Bharti Mittal\nChairman\nDIN: 00042491\nPlace: London, United Kingdom\nSoumen Ray\nChief Financial Officer\n(India and South Asia)\nPlace: Gurugram, India\nGopal Vittal\nManaging Director & CEO\nDIN: 02291778\nPlace: Gurugram, India\nPompany secretary\nPlace: Gurugram, India\nIntegrated Report and Annual Financial Statements 2023-24 | 283\n\n\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\n1. Corporate information\nBharti\nAirtel\nLimited ('the\nCompany') (CIN:\nL74899HR1995PLC095967) is domiciled\nand\nincorporated in India as a public limited company listed\non the National Stock Exchange of India Limited and\nthe BSE Limited. The registered office of the Company\nis situated at Airtel Center, Plot no. 16, Udyog Vihar,\nPhase - IV, Gurugram - 122015, Haryana, India.\nThe Company is principally engaged in provision of\ntelecommunication services in India. The details as\nto the services provided by the Company are further\nprovided in note 23.\n2. Summary of material accounting policies\n2.1 Basis of preparation\nThese Standalone Financial Statements ('Financial\nStatements') have been prepared to comply in all\nmaterial respects with the Indian Accounting Standards\n('Ind AS') as notified by the Ministry of Corporate Affairs\n('MCA') under section 133 of the Companies Act, 2013\n('Act'), read together with Rule 3 of the Companies\n(Indian Accounting Standards) Rules, 2015 (as amended\nfrom time to time) and other accounting principles\ngenerally accepted in India.\nThe Financial Statements are approved for issue by the\nCompany's Board of Directors on May 14, 2024.\nThe Financial Statements are based on the classification\nprovisions contained in Ind AS 1, 'Presentation of\nFinancial Statements' and Division Il of Schedule III\n(as amended) to the Act. Further, for the purpose of\nclarity, various items are aggregated in the Standalone\nBalance Sheet ('Balance Sheet') and Standalone\nStatement of Profit and Loss (*Statement of Profit and\nLoss'). Nonetheless, these items are disaggregated\nseparately in the notes to the Financial Statements,\nwhere applicable or required.\nAll the amounts included in the Financial Statements\nare reported in millions of Indian Rupee ('Rupee' or 'F')\nand are rounded off to the nearest million, except per\nshare data and unless stated otherwise. Further, due to\nrounding off, certain amounts are appearing as 'O:\nThe preparation of the said Financial Statements\nrequires the use of certain critical accounting estimates\nand judgements. It also requires the management to\nexercise judgement in the process of applying the\nCompany's accounting policies. The areas where\nestimates are significant to the Financial Statements,\nor areas involving a higher degree of judgement or\ncomplexity. are disclosed in note 3.\nThe accounting policies, as set out in the following\nparagraphs of this note, have been consistently applied,\nby the Company, to all the periods presented in the said\nFinancial Statements, except in case of adoption of any\nnew standards and amendments during the year.\nTo provide more reliable and relevant information about\nthe effect of certain items in the Balance Sheet and\nStatement of Profit and Loss, the Company has changed\nthe classification of certain items.\nAmendments to Ind AS\nNew amendments adopted during the year\nMCA vide\nnotification no.\nG.S.R. 242(E) dated\nMarch 31, 2023 has issued the Companies (Indian\nAccounting Standards) Amendment Rules, 2023 which\namends following Ind AS (as applicable to the Company):\n• Ind AS 102, Share-based Payments\n• Ind AS 103, Business Combinations\n• Ind AS 107, Financial Instruments: Disclosures\n• Ind AS 109, Financial Instruments\n• Ind AS 115, Revenue from Contracts with Customers\n• Ind AS 1, Presentation of Financial Statements\n• Ind AS 12, Income Taxes\n• Ind AS 8, Accounting Policies, Changes in Accounting\nEstimates and Errors\n• Ind AS 34, Interim Financial Reporting\nThe amendments are applicable for annual periods\nbeginning on or after April 1, 2023, however these do\nnot have material impact on the financial statement of\nthe company.\nAmendments to Ind AS issued but not yet effective\nMCA notifies new standards or\namendments\nto the existing\nstandards\nunder\nCompanies\n(Indian Accounting Standards) Rules as issued\nfrom time to time. For the year ended March 31, 2024,\nMCA has not notified any new standards or amendments\nto the existing standards applicable to the Company.\n2.2 Basis of measurement\nThe Financial Statements have been prepared on the\naccrual and going concern basis, and the historical cost\nconvention except where the Ind AS requires a different\naccounting treatment. The principal variations from the\nhistorical cost convention relate to financial instruments\nclassified as fair value through profit or loss ('FVTPL)\nor fair value through other comprehensive income\n('FVTOCI') (refer note 2.10(b)) which are measured at\nfair value.\n284\nBharti Airtel Limited\nOverview and\nPerformance\nManagement Discussion\n& Analysis\nStatutory\nReports\nFinancial\nStatements\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\nFair value measurement\nFair value is the price at the measurement date, at which\nan asset can be sold or a liability can be transferred, in an\norderly transaction between market participants. The\nCompany's accounting policies require, measurement\nof certain financial instruments at fair values (either on\na recurring or non-recurring basis).\nThe Company is required to classify the fair valuation\nmethod of the financial / non-financial assets and\nliabilities, either measured or disclosed at fair value in\nthe Financial Statements, using a three level fair-value-\nhierarchy (which reflects the significance of inputs\nused in the measurement). Accordingly, the Company\nuses valuation techniques that are appropriate in\nthe circumstances and for which sufficient data is\navailable to measure fair value, maximising the use of\nrelevant observable inputs and minimising the use of\nunobservable inputs.\nThe three levels of the fair-value-hierarchy are\ndescribed below:\nLevel 1: Quoted (unadjusted) prices for identical assets\nor liabilities in active markets\nLevel 2: Significant inputs to the fair value measurement\nare directly or indirectly observable\nLevel 3: Significant inputs to the fair value measurement\nare unobservable\n2.3 Business combinations\nThe Company accounts for business combinations using\nthe acquisition method of accounting. Accordingly, the\nidentifiable assets acquired and the liabilities assumed\nof the business are recorded at their acquisition date\nfair values (except certain assets and liabilities which\nare required to be measured as per the applicable\nstandard). The consideration transferred for the\nacquisition of a business is aggregation of the fair values\nof the assets transferred, the liabilities incurred and the\nequity interests issued by the Company in exchange for\ncontrol of the business.\nThe consideration transferred also includes the\nfair value of any asset or liability resulting from a\ncontingent consideration arrangement. Any contingent\nconsideration transferred is recognised at fair value at\nthe acquisition date. Contingent consideration classified\nas an asset or liability is subsequently measured at\nfair value with changes in fair value recognised in\nStatement of Profit and Loss. Contingent consideration\nthat is classified as equity is not re-measured and its\nsubsequent settlement is accounted for within equity.\nAcquisition-related costs are expensed in the period in\nwhich the costs are incurred.\nIf the initial accounting for a business combination\nis incomplete as at the reporting date in which the\ncombination occurs, the identifiable assets and liabilities\nacquired in a business combination are measured at\ntheir provisional fair values at the date of acquisition.\nSubsequently adjustments to the provisional values\nare made retrospectively within the measurement\nperiod, if new information is obtained about facts and\ncircumstances that existed as of the acquisition date\nand, if known, would have affected the measurement of\nthe amounts recognised as of that date or would have\nresulted in the recognition of those assets and liabilities\nas of that date; otherwise the adjustments are recorded\nin the period in which they occur.\nA contingent liability recognised in a business\ncombination is initially measured at its fair value.\nSubsequent to initial recognition, it is measured at the\nhigher of:\nthe amount that would be recognised in accordance\nwith Ind AS 37, 'Provisions, Contingent Liabilities\nand Contingent Assets', and\n(ii)\nthe amount initially recognised less, where\nappropriate, cumulative amortisation recognised\nin accordance with Ind AS 115 'Revenue from\nContracts with Customers'.\n2.4 Common control transactions\nTransactions arising from transfers of assets / liabilities,\ninterest in entities or businesses between entities\nthat are under the common control, are accounted\nat their carrying amounts. The difference, between\nany consideration paid / received and the aggregate\ncarrying amounts of assets / liabilities and interests in\nentities acquired / disposed (other than impairment, if\nany), is recorded in capital reserve / retained earnings /\ncommon control reserve, as applicable.\n2.5 Foreign currency transactions\nFunctional and presentation currency\nThe Financial Statements are presented in Indian Rupee\nwhich is the functional and presentation currency of\nthe Company.\nb)\nTransactions and balances\nTransactions in foreign currencies are initially recorded\nin the relevant functional currency at the exchange rate\nprevailing at the date of the transaction.\nMonetary assets and liabilities denominated in foreign\ncurrencies are translated into the functional currency at\nthe closing exchange rate prevailing as at the reporting\ndate with the resulting foreign exchange differences,\nIntegrated Report and Annual Financial Statements 2023-24\n285\n\n\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\non subsequent re-statement / settlement, recognised\nin the Statement of Profit and Loss. Non-monetary\nassets and liabilities denominated in foreign currencies\nare translated into the functional currency using the\nexchange rate prevalent, at the date of initial recognition\n(in case they are measured at historical cost) or at the\ndate when the fair value is determined (in case they are\nmeasured at fair value) - the resulting foreign exchange\ndifference, on subsequent re-statement / settlement,\nrecognised in the Statement of Profit and Loss, except\nto the extent that it relates to items recognised in the\nother comprehensive income ('OCI) or directly in equity.\nThe equity items denominated in foreign currencies are\ntranslated at historical cost.\n2.6 Current versus non-current classification\nThe Company presents assets and liabilities in the balance\nsheet based on current / non-current classification.\nDeferred tax assets and liabilities, and all other assets\nand liabilities which are not current (as discussed in the\nbelow paragraphs) are classified as non-current assets\nand liabilities.\nAn asset is classified as current when it is expected\nto be realised or intended to be sold or consumed in\nnormal operating cycle, held primarily for the purpose\nof trading, expected to be realised within twelve months\nafter the reporting period, or cash or cash equivalent\nunless restricted from being exchanged or used to\nsettle a liability for at least twelve months after the\nreporting period.\nA liability is classified as current when it is expected to\nbe settled in normal operating cycle, it is held primarily\nfor the purpose of trading, it is due to be settled within\ntwelve months after the reporting period, or there is no\nunconditional right to defer the settlement of the liability\nfor at least twelve months after the reporting period.\nSeparated embedded derivatives are classified basis the\nhost contract.\n2.7 Property, plant and equipment ('PPE')\nAn item is recognised as an asset, if and only if, it is\nprobable that the future economic benefits associated\nwith the item will flow to the Company and its cost\ncan be measured reliably. PPE are initially recognised\nat cost. The initial cost of PPE comprises its purchase\nprice (including non-refundable duties and taxes but\nexcluding any trade discounts and rebates), assets\nretirement obligations and any directly attributable\ncost of bringing the asset to its working condition and\nlocation for its intended use. Further, it includes assets\ninstalled on the premises of customers as the associated\nrisks, rewards and control remain with the Company.\nSubsequent to initial recognition, PPE are stated at cost\nless accumulated depreciation and impairment losses,\nif any. When significant parts of PPE are required to be\nreplaced at regular intervals, the Company recognises\nsuch parts as separate component of assets. When\nan item of PPE is replaced, then its carrying amount\nis derecognised from the Balance Sheet and cost of\nthe new item of PPE is recognised. Further, in case the\nreplaced part was not being depreciated separately,\nthe cost of the replacement is used as an indication to\ndetermine the cost of the replaced part at the time it\nwas acquired.\nCost of assets not ready for intended use, as on the\nBalance Sheet date, is shown as capital work-in-\nprogress, advances given towards acquisition of PPE\noutstanding at each Balance Sheet date are disclosed\nunder other non-current assets.\nThe expenditures that are incurred after the item of\nPPE has been available for use such as repairs and\nmaintenance, are normally charged to the Statement\nof Profit and Loss in the period in which such costs\nare incurred. However, in situations where the said\nexpenditure can be measured reliably and is probable\nthat future economic benefits associated with it will flow\nto the Company, it is included in the asset's carrying\nvalue or as a separate asset, as appropriate.\nDepreciation on PPE is computed using the straight-\nline method over the estimated useful lives. The\nmanagement basis its past experience and technical\nassessment has estimated the useful lives, which is at\nvariance with the life prescribed in Part C of Schedule I|\nto the Act and has accordingly, depreciated the assets\nover such useful lives. Freehold land is not depreciated\nas it has an unlimited useful life. The Company has\nestablished the estimated range of useful lives for\ndifferent categories of PPE as follows:\nCategories\nBuildings\nBuilding on leased land\nLeasehold improvements\nYears\n20\nLease term or 20 years,\nwhichever is less\nLease term or 20 years,\nwhichever is less\nPlant and equipment\nNetwork equipment (including\npassive infrastructure)\nCustomer premise equipments\nComputers and servers\nFurniture & fixtures and office\nequioments\nVehicles\n3-25\n3-5\n3-5\n2-5\n3 - 5\nThe useful lives, residual values and depreciation\nmethod of PPE are reviewed, and adjusted appropriately,\nat least as at each financial year end so as to ensure that\n286\nBharti Airtel Limited\nOverview and\nPerformance\nManagement Discussion\nYAnaivsis\nStatutory\nReports\nFinancial\nStatements\nNotes to Standalone Financial Statements\n(All amounts are in millions of Indian Rupee; unless stated otherwise)\nthe method and period of depreciation are consistent\nwith the expected pattern of economic benefits from\nthese assets. The effect of any change in the estimated\nuseful lives, residual values and / or depreciation\nmethod are accounted prospectively, and accordingly\nthe depreciation is calculated over the PPE's remaining\nrevised useful life. The cost and the accumulated\ndepreciation for PPE sold, scrapped, retired or otherwise\ndisposed off are derecognised from the Balance Sheet\nand the resulting gains / losses are included in the\nStatement of Profit and Loss within other income /\nother expenses.\n2.8 Intangible assets\nIntangible assets are recognised when the Company\ncontrols the asset, it is probable that future economic\nbenefits attributed to the asset will flow to the Company\nand the cost of the asset can be measured reliably.\nGoodwill represents the cost of the acquired business\nin excess of the fair value of identifiable net assets\npurchased (refer note 2.3). Goodwill is not amortised;\nhowever it is tested annually for impairment and\nwhenever there is an indication that the CGU may be\nimpaired (refer note 2.9), and carried at cost less any\naccumulated impairment losses. The gains / (losses) on\nthe disposal of a CGU include the carrying amount of\ngoodwill relating to the CGU sold (in case goodwill has\nbeen allocated to group of CGUs; it is determined on the\nbasis of the relative fair value of operations sold).\nThe intangible assets that are acquired in a business\ncombination are recognised at its fair value. Other\nintangible assets are initially recognised at cost. Those\nassets having finite useful life are carried at cost less\naccumulated amortisation and impairment",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_company_type",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nCUSTOMER OBSESSED\nDIGITALLY DRIVEN\nIntegrated Report and Annual Financial Statements 2023-24\nBharti Airtel Limited",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_key_financials",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "1499824 Mn revenues, 790458 Mn EBITDA",
      "golden_context": "Page 2:\n\nKey highlights FY 2023-24\nFinancial\nConsolidated\nC1,499,824 Mn\nRevenue\n8%\nC74,670 Mn\nNet profit\n11%\nStandalone\nC941,198 Mn\nRevenue\n11%\nC49,882 Mn\nNet profit\nCustomers\n406.3 Mn\nIndia\n58.1 Mn\nBangladesh\nESG\nWinner\nGolden Peacock Award for\nSustainability 2023\nS&P Global\n2024 Sustainability\nYearbook Member\nY-o-Y growth Y-o-Y degrowth\nC790,458 Mn\nEBITDA\n10%\nC510,867 Mn\nEBITDA\n16%\n152.7 Mn\nAfrica\n2.9 Mn\nSri Lanka\nB\nMaintained CDP Rating\nCustomer obsessed\nDigitally driven\nAt Airtel, we are at the forefront of technological advancements, with\ncustomer obsession at the center of everything.\nOur superfast and seamless connectivity, riding on a solid\ndigital foundation, enables us to win quality customers\nfor life.\nWe expanded our network at a remarkable pace with the\nlargest ever deployment of network sites and optic fiber\nrollout across the country, offering unmatched connectivity\nthat elevates lives and transforms enterprises. By staying\nconsistent with our strategy, integrating technology,\nand razor-sharp execution, we sustained industry-\nleading growth.\nWe are building digital platforms and digital tools,\nleveraging data science to deliver simplified customer\njourneys, drive efficiency, and raise the bar on service\nquality. Our data-driven approach allows us to deliver\nwell-crafted solutions, reliable services that enrich\neveryday life.\nBy integrating cutting-edge technologies, strengthening\nour networks, and prioritising sustainability, we are pushing\nthe boundaries of innovation to stay ahead in digital\nadoption. We have developed scalable platforms in-house\nwith potential to extend them to other telcos around\nthe world.\nAll of this is done by embedding sustainability at the\ncore, with accelerated adoption of renewable sources\nof energy at our network sites, data centres and across\nour operations. Financial prudence and operational\nexcellence is the foundation for our robust balance sheet,\npositioning us to channelise investments for future\ngrowth opportunities.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_revenue",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "1499824 Mn",
      "golden_context": "Page 2:\n\nKey highlights FY 2023-24\nFinancial\nConsolidated\nC1,499,824 Mn\nRevenue\n8%\nC74,670 Mn\nNet profit\n11%\nStandalone\nC941,198 Mn\nRevenue\n11%\nC49,882 Mn\nNet profit\nCustomers\n406.3 Mn\nIndia\n58.1 Mn\nBangladesh\nESG\nWinner\nGolden Peacock Award for\nSustainability 2023\nS&P Global\n2024 Sustainability\nYearbook Member\nY-o-Y growth Y-o-Y degrowth\nC790,458 Mn\nEBITDA\n10%\nC510,867 Mn\nEBITDA\n16%\n152.7 Mn\nAfrica\n2.9 Mn\nSri Lanka\nB\nMaintained CDP Rating\nCustomer obsessed\nDigitally driven\nAt Airtel, we are at the forefront of technological advancements, with\ncustomer obsession at the center of everything.\nOur superfast and seamless connectivity, riding on a solid\ndigital foundation, enables us to win quality customers\nfor life.\nWe expanded our network at a remarkable pace with the\nlargest ever deployment of network sites and optic fiber\nrollout across the country, offering unmatched connectivity\nthat elevates lives and transforms enterprises. By staying\nconsistent with our strategy, integrating technology,\nand razor-sharp execution, we sustained industry-\nleading growth.\nWe are building digital platforms and digital tools,\nleveraging data science to deliver simplified customer\njourneys, drive efficiency, and raise the bar on service\nquality. Our data-driven approach allows us to deliver\nwell-crafted solutions, reliable services that enrich\neveryday life.\nBy integrating cutting-edge technologies, strengthening\nour networks, and prioritising sustainability, we are pushing\nthe boundaries of innovation to stay ahead in digital\nadoption. We have developed scalable platforms in-house\nwith potential to extend them to other telcos around\nthe world.\nAll of this is done by embedding sustainability at the\ncore, with accelerated adoption of renewable sources\nof energy at our network sites, data centres and across\nour operations. Financial prudence and operational\nexcellence is the foundation for our robust balance sheet,\npositioning us to channelise investments for future\ngrowth opportunities.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_revenue_growth",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "8% growth",
      "golden_context": "Page 2:\n\nKey highlights FY 2023-24\nFinancial\nConsolidated\nC1,499,824 Mn\nRevenue\n8%\nC74,670 Mn\nNet profit\n11%\nStandalone\nC941,198 Mn\nRevenue\n11%\nC49,882 Mn\nNet profit\nCustomers\n406.3 Mn\nIndia\n58.1 Mn\nBangladesh\nESG\nWinner\nGolden Peacock Award for\nSustainability 2023\nS&P Global\n2024 Sustainability\nYearbook Member\nY-o-Y growth Y-o-Y degrowth\nC790,458 Mn\nEBITDA\n10%\nC510,867 Mn\nEBITDA\n16%\n152.7 Mn\nAfrica\n2.9 Mn\nSri Lanka\nB\nMaintained CDP Rating\nCustomer obsessed\nDigitally driven\nAt Airtel, we are at the forefront of technological advancements, with\ncustomer obsession at the center of everything.\nOur superfast and seamless connectivity, riding on a solid\ndigital foundation, enables us to win quality customers\nfor life.\nWe expanded our network at a remarkable pace with the\nlargest ever deployment of network sites and optic fiber\nrollout across the country, offering unmatched connectivity\nthat elevates lives and transforms enterprises. By staying\nconsistent with our strategy, integrating technology,\nand razor-sharp execution, we sustained industry-\nleading growth.\nWe are building digital platforms and digital tools,\nleveraging data science to deliver simplified customer\njourneys, drive efficiency, and raise the bar on service\nquality. Our data-driven approach allows us to deliver\nwell-crafted solutions, reliable services that enrich\neveryday life.\nBy integrating cutting-edge technologies, strengthening\nour networks, and prioritising sustainability, we are pushing\nthe boundaries of innovation to stay ahead in digital\nadoption. We have developed scalable platforms in-house\nwith potential to extend them to other telcos around\nthe world.\nAll of this is done by embedding sustainability at the\ncore, with accelerated adoption of renewable sources\nof energy at our network sites, data centres and across\nour operations. Financial prudence and operational\nexcellence is the foundation for our robust balance sheet,\npositioning us to channelise investments for future\ngrowth opportunities.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000446_segments",
      "report_id": "ID_000446",
      "company_name": "Bharti Airtel",
      "year": 2024,
      "country": "IN",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Mobile Services, Home Services, Digital TV Services, Airtel Business",
      "golden_context": "Page 15:\n\nSegmental Performance\nSteady Progress\nMobile services (India)\nWe provide a wide array of services, including post-paid,\nprepaid, roaming, internet, and a range of value-added\nservices. Utilising our expansive distribution network\nof 1.2 million outlets, we extend our reach across 7,918\ncensus and 809,051 non-census towns and villages\nthroughout India, encompassing over 96.1% of the\ncountry's population. Our diverse offerings include\nhigh-speed internet access, mobile TV, video calls, live-\nstreaming videos, gaming, and seamless HD and 4K\nvideo streaming. These services are possible through\nour expansive network with 318,171 network towers and\n931,854 mobile broadband base stations. Additionally, the\nCompany has extensive nationwide long-distance optic\nfiber infrastructure.\n(D Mn)\n12.02% 16.67%\nRevenue EBITDA\n759,246\n850,488\n400,751\n467,551\n26 Bharti Airtel Limited Home services\nWe provide fixed-line telephone and broadband\nservices to households in 1,290 cities across\nIndia, collaborating with the Local Cable\nOperators (LCOs) to expand our reach. We offer\nhigh-speed broadband, offering speeds of up to\n1 Gbps, guaranteeing swift internet connections\nalongside dependable voice services.\n(D Mn)\nFY 2022-23 FY 2023-24 Y-o-Y growth 22.80% 21.41%\nRevenue EBITDA\n40,472\n49,701\n20,495\n24,883\nOverview and\nPerformance\nManagement Discussion\n& Analysis\nStatutory\nReports\nFinancial\nStatements\nDigital TV services\nOur Direct-To-Home (DTH) platform offers a broad\nspectrum of digital TV services, encompassing\nboth standard and high definition (HD) options\nequipped with 3D capabilities and immersive Dolby\nsurround sound. Airtel Xstream, our innovative\nsolution, serves as a viable alternative to Smart\nTVs, granting users access to OTT channels and TV\nchannels directly on their regular TV via an in-built\nChromecast Play feature. It offers an extensive\nselection of 725 channels, including 94 HD\nchannels (including 1 HD SVOD service), 64 SVOD\nservices, 4 international channels, and 4 interactive\nservices, together with 22+ OTT apps. We have\nrecently added aha, Sun NXT, ALT Balaji, Fan Code,\nand Play Flix.\n(D Mn)\n3.39% -1.11%\nRevenue EBITDA\n29,450\n30,448\n17,344\n17,152\nAirtel business\nAs India’s premier and trusted provider of ICT services,\nwe offer a diverse range of solutions tailored to the\nneeds of enterprises, governments, carriers, and small to\nmedium-sized businesses. In the realm of connectivity,\nour offerings include fixed-line voice solutions (PRIs),\ndata connectivity, and a variety of options such as MPLS,\nVoIP, and SIP trunking. Additionally, our comprehensive\nconferencing solutions encompass voice, video, and web\nconferencing. Our cloud portfolio further enhances our\noffice solutions suite, featuring storage, compute services,\nMicrosoft Office 365, Shopify-based e-commerce packages,\nand CRM packages, all available on a flexible pay-as-you-\ngo model. Beyond this, our offerings extend to network\nintegration, CPaaS, IoT, managed services, enterprise\nmobility applications, and digital media solutions.\nAt the Airtel Business division, we prioritise a streamlined\ncustomer experience through a unified approach\nencompassing billing systems, support, and personalised\ninterfaces. Through our global services, we facilitate voice\nand data connectivity worldwide, including international\ntoll-free services and SMS hubbing. Leveraging strategically\nlocated submarine cables and a satellite network, we ensure\nseamless global connectivity, even in the most remote areas.\nOur expansive global network covers over 400,000 Rkms\nspanning across 50+ countries and five continents.\n(D Mn)\n185,931\n208,209\n73,821\n82,012\nRevenue EBITDA\n11.98%\n11.10%\nFY 2022-23 FY 2023-24 Y-o-Y growth Y-o-Y de-growth\nIntegrated Report and Annual Financial Statements 2023-",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_cash_flow",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "free cash flow 22803 crore",
      "golden_context": "Page 21:\n\nDifferentiated cloud services and large deal momentum drive Infosys’ highest annual\ngrowth in a decade. Our ESG Vision 2030 and ambitions continue to drive value for\nall our stakeholders.\nRevenues (in ` crore)\n1,21,641\n21.1% growth Y-o-Y\n19.7% CC growth Y-o-Y\nFree cash flows (in ` crore) (1)\n22,803\n3.6% growth Y-o-Y\nFCF conversion at 103%\nof net profit\nTotal shareholder return\n41.6%\nGenerated higher returns\nthan market\nOperating margin\n23.0%\nRobust operating margin\nConsolidated cash and investments\n(in ` crore) (2)\n37,419\nContinue to maintain strong\nliquidity position\nBasic earnings per share\n(par value of `5 each)\n52.52\n15.2% growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n57.0%\n41.2% CC growth Y-o-Y (basis US$)\nReturn on equity\n29.1%\nImproved by 1.7%\nover the last fiscal\nDividend per share (in `)\n31.0\n14.8% growth Y-o-Y\nCarbon neutrality\nFresh college graduates hired\nCarbon offset programs\nCarbon neutral\n84,782\n1,84,000\nfor 3 years\nGlobally\nRural families continue to benefit\nfrom our carbon offset programs\nin a row\nScope 1, 2 and 3 emissions\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows prepared\n(2)\nunder IFRS.\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, compulsorily\nconvertible debentures and others\nKey trends\nLarge deal TCV\n(Total contract value in US$ billion)\n9.5\nSustained momentum in\nlarge deal wins\nDigital skilling\n4.8 million\nPeople are a part of our digital\nskilling initiatives\nNumber of US$ 100 million+ clients\n38\nIncrease of 6 clients Y-o-Y\nWomen employees\n39.6%\nSteady progress towards gender\ndiversity goals\nIn ` crore, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 1,21,641 1,00,472 90,791 82,675 70,522\nNet profit (1)(2) 22,110 19,351 16,594 15,404 16,029\nBasic earnings per share (in `) (1) 52.52 45.61 38.97 35.44 35.53\nMarket capitalization 8,02,162 5,82,880 2,73,214 3,24,448 2,47,198\nIn US$ million, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 16,311 13,561 12,780 11,799 10,939\nNet profit (1)(2) 2,963 2,613 2,331 2,199 2,486\nBasic earnings per share (in US$) (1) 0.70 0.62 0.55 0.51 0.55\nTech for Good\n80 million+\nPeople empowered through our Tech for Good solutions in e-governance,\neducation and healthcare\nMarket capitalization 104,706 79,760 34,966 47,614 19,493\nNotes:\n(1)\nBased on IFRS consolidated financial statements\n(2)\nAttributable to owners of the Company",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_company_type",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 360:\n\nAGM Mode Participation through video-conferencing Helpline number for VC participation Webcast and transcripts Final dividend record date Final dividend payment date Information of tax on final dividend 2021-22 Cut-off date for e-voting E-voting start time and date E-voting end time and date E-voting website of NSDL Name, address and contact details of e-voting service\nprovider\nName, address and contact details of Registrar and\nTransfer Agent\nInfosys Limited ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_key_financials",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "121641 revenues crore, free cash flows 22803 crore, 23% operating margin",
      "golden_context": "Page 21:\n\nDifferentiated cloud services and large deal momentum drive Infosys’ highest annual\ngrowth in a decade. Our ESG Vision 2030 and ambitions continue to drive value for\nall our stakeholders.\nRevenues (in ` crore)\n1,21,641\n21.1% growth Y-o-Y\n19.7% CC growth Y-o-Y\nFree cash flows (in ` crore) (1)\n22,803\n3.6% growth Y-o-Y\nFCF conversion at 103%\nof net profit\nTotal shareholder return\n41.6%\nGenerated higher returns\nthan market\nOperating margin\n23.0%\nRobust operating margin\nConsolidated cash and investments\n(in ` crore) (2)\n37,419\nContinue to maintain strong\nliquidity position\nBasic earnings per share\n(par value of `5 each)\n52.52\n15.2% growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n57.0%\n41.2% CC growth Y-o-Y (basis US$)\nReturn on equity\n29.1%\nImproved by 1.7%\nover the last fiscal\nDividend per share (in `)\n31.0\n14.8% growth Y-o-Y\nCarbon neutrality\nFresh college graduates hired\nCarbon offset programs\nCarbon neutral\n84,782\n1,84,000\nfor 3 years\nGlobally\nRural families continue to benefit\nfrom our carbon offset programs\nin a row\nScope 1, 2 and 3 emissions\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows prepared\n(2)\nunder IFRS.\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, compulsorily\nconvertible debentures and others\nKey trends\nLarge deal TCV\n(Total contract value in US$ billion)\n9.5\nSustained momentum in\nlarge deal wins\nDigital skilling\n4.8 million\nPeople are a part of our digital\nskilling initiatives\nNumber of US$ 100 million+ clients\n38\nIncrease of 6 clients Y-o-Y\nWomen employees\n39.6%\nSteady progress towards gender\ndiversity goals\nIn ` crore, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 1,21,641 1,00,472 90,791 82,675 70,522\nNet profit (1)(2) 22,110 19,351 16,594 15,404 16,029\nBasic earnings per share (in `) (1) 52.52 45.61 38.97 35.44 35.53\nMarket capitalization 8,02,162 5,82,880 2,73,214 3,24,448 2,47,198\nIn US$ million, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 16,311 13,561 12,780 11,799 10,939\nNet profit (1)(2) 2,963 2,613 2,331 2,199 2,486\nBasic earnings per share (in US$) (1) 0.70 0.62 0.55 0.51 0.55\nTech for Good\n80 million+\nPeople empowered through our Tech for Good solutions in e-governance,\neducation and healthcare\nMarket capitalization 104,706 79,760 34,966 47,614 19,493\nNotes:\n(1)\nBased on IFRS consolidated financial statements\n(2)\nAttributable to owners of the Company",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_revenue",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "121641 cr revenues",
      "golden_context": "Page 8:\n\nInfosys at a glance Employees\n3,14,015\nNo. of employees\nRevenues\nI1,21,641 cr\nTotal\nGlobal footprint\n1\n6\n7\n3\n9\n4\n5\n2\n8\nApproaching\nStrategy\nIntroduction Delivering\nStatutory\nFinancial\nvalue creation\nreview\nvalue Governance BRSR\nreports\nstatements\nInfosys at a glance\nInfosys at a glance\nClients\nOur solutions are classified as digital and core.\nYear 2021-22\n39.6%\nUS$ 100 million+ 38\nDigital\nUS$ 50 million+ 64\nWomen employees Experience Accelerate\nUS$ 10 million+ 275\nInsight Assure\nUS$ 1 million+ 853\n57.0%\nDigital\nInnovate\nCore\n54 countries\nApplication management services Infrastructure management services\nProprietary application development services Traditional enterprise application implementation\nIndependent validation solutions Support and integration services\nProduct engineering and management Business process management\n10\n11\n12\n14\nInfosys Cobalt™ is a set of services, solutions, and platforms for enterprises to accelerate their\ncloud journey.\nKey products and platforms\nRevenue by geography\nInnovation hubs and design studios\nNorth America\nEurope\nRest of the World\nIndia\n1. Hartford\n1. Hartford\n61.7%\n24.8%\n10.6%\n2.9%\n2. Richardson\n2. Richardson\n3. Indianapolis\n4. Raleigh\n5. Phoenix\n5. Phoenix\n13\n6. Providence\n6. Providence\n11. Düsseldorf\n11. Düsseldorf\n7. San Francisco\n7. San Francisco\n12. Bucharest\n12. Bucharest\n8. Houston\n8. Houston\n13. Melbourne\n13. Melbourne\n9. Malvern\n9. Malvern\n14. Shanghai\n14. Shanghai\n10. London\n10. London\nInfosys Cyber Next\nInfosys Applied AI",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_revenue_growth",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "21.1% growth",
      "golden_context": "Page 21:\n\nDifferentiated cloud services and large deal momentum drive Infosys’ highest annual\ngrowth in a decade. Our ESG Vision 2030 and ambitions continue to drive value for\nall our stakeholders.\nRevenues (in ` crore)\n1,21,641\n21.1% growth Y-o-Y\n19.7% CC growth Y-o-Y\nFree cash flows (in ` crore) (1)\n22,803\n3.6% growth Y-o-Y\nFCF conversion at 103%\nof net profit\nTotal shareholder return\n41.6%\nGenerated higher returns\nthan market\nOperating margin\n23.0%\nRobust operating margin\nConsolidated cash and investments\n(in ` crore) (2)\n37,419\nContinue to maintain strong\nliquidity position\nBasic earnings per share\n(par value of `5 each)\n52.52\n15.2% growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n57.0%\n41.2% CC growth Y-o-Y (basis US$)\nReturn on equity\n29.1%\nImproved by 1.7%\nover the last fiscal\nDividend per share (in `)\n31.0\n14.8% growth Y-o-Y\nCarbon neutrality\nFresh college graduates hired\nCarbon offset programs\nCarbon neutral\n84,782\n1,84,000\nfor 3 years\nGlobally\nRural families continue to benefit\nfrom our carbon offset programs\nin a row\nScope 1, 2 and 3 emissions\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows prepared\n(2)\nunder IFRS.\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, compulsorily\nconvertible debentures and others\nKey trends\nLarge deal TCV\n(Total contract value in US$ billion)\n9.5\nSustained momentum in\nlarge deal wins\nDigital skilling\n4.8 million\nPeople are a part of our digital\nskilling initiatives\nNumber of US$ 100 million+ clients\n38\nIncrease of 6 clients Y-o-Y\nWomen employees\n39.6%\nSteady progress towards gender\ndiversity goals\nIn ` crore, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 1,21,641 1,00,472 90,791 82,675 70,522\nNet profit (1)(2) 22,110 19,351 16,594 15,404 16,029\nBasic earnings per share (in `) (1) 52.52 45.61 38.97 35.44 35.53\nMarket capitalization 8,02,162 5,82,880 2,73,214 3,24,448 2,47,198\nIn US$ million, except per equity share data FY 2022 FY 2021 FY 2020 FY 2019 FY 2018\nRevenues (1) 16,311 13,561 12,780 11,799 10,939\nNet profit (1)(2) 2,963 2,613 2,331 2,199 2,486\nBasic earnings per share (in US$) (1) 0.70 0.62 0.55 0.51 0.55\nTech for Good\n80 million+\nPeople empowered through our Tech for Good solutions in e-governance,\neducation and healthcare\nMarket capitalization 104,706 79,760 34,966 47,614 19,493\nNotes:\n(1)\nBased on IFRS consolidated financial statements\n(2)\nAttributable to owners of the Company",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000447_segments",
      "report_id": "ID_000447",
      "company_name": "Infosys",
      "year": 2022,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Financial Services, Retail, Communication, Energy, Utilities, Resources and Services, Manufacturing, Hi-Tech, Life Sciences, All other segments",
      "golden_context": "Page 85:\n\non expenses\nThe general and administration expenses on standalone and\nconsolidated basis have reduced as a percentage of revenue\nduring fiscal 2022 to 4.6% from 5.3% in fiscal 2021, and 5.3%\nduring fiscal 2022 from 5.8% in fiscal 2021, respectively, mainly on\naccount of a decrease in employee benefit costs, communication\ncosts, repairs and maintenance partially offset by increase in\nconsulting and professional expenses.\n3. Other income and finance cost\nOther income primarily includes income from investments gain /\nloss on investments, foreign exchange gain / loss on forward and\noptions contracts and foreign exchange gain / loss on translation\nof other assets and liabilities. In the current year, the Company\nreceived ` 1,218 crore of dividend from its subsidiary, which is\nreflected in the Standalone financial statements.\nInterest income in fiscal 2022 has declined as compared to\nfiscal 2021 primarily due to a decrease in yield on investments\nand decrease in investable base. We use foreign exchange\nBusiness segments – Consolidated\nforward and options contracts to hedge our exposure against\nmovements in foreign exchange rates. Finance cost is on\naccount of leases. The lease payments are discounted using the\ninterest rate implicit in the lease or, if not readily determinable,\nusing the incremental borrowing rates in the country of\ndomicile of these leases.\n4. Provision for tax\nWe have provided for our tax liability both in India and overseas.\nThe applicable Indian corporate statutory tax rate for both the\nyears ended March 31, 2022, and March 31, 2021 is 34.94%.\nEffective tax rate is generally influenced by various factors,\nincluding differential tax rates, non-deductible expenses, exempt\nnon-operating income, overseas taxes, benefits from SEZ units,\ntax reversals and provisions pertaining to prior periods primarily\non account of adjudication of certain disputed matters in favor\nof the Company and upon filing of tax return across various\njurisdictions and other tax deductions.\n5. Segmental profitability\nThe Company’s operations predominantly relate to providing\nend-to-end business solutions to enable clients to enhance\nperformance of their business. Business segments of the\nCompany are primarily enterprises in Financial Services\nand Insurance; enterprises in Manufacturing; enterprises in\nRetail, Consumer Packaged Goods and Logistics; enterprises\nin the Energy, Utilities, Resources and Services; enterprises\nin Communication, Telecom OEM and Media; enterprises in\nHi‑Tech; enterprises in Life Sciences and Healthcare; and all other\nsegments. All other segments represent the operating segments\nof businesses in India, Japan, China, Infosys Public Services and\nother enterprises in public services. This is discussed in detail\nin Note 2.26 to the Consolidated financial statements in this\nIntegrated Annual Report.\nin ` crore\nParticulars Financial\nServices\nRetail Communication Energy, Utilities,\nResources and Services\nManufacturing Hi-Tech Life\nSciences\nAll other\nsegments\nTotal\nSegmental revenues\n2022 38,902 17,734 15,182 14,484 13,336 10,036 8,517 3,450 1,21,641\n2021 32,583 14,745 12,628 12,539 9,447 8,560 6,870 3,100 1,00,472\nGrowth % 19.4 20.3 20.2 15.5 41.2 17.2 24.0 11.3 21.1\nSegmental operating income\n2022 10,314 6,130 3,372 4,225 2,408 2,495 2,308 167 31,491\n2021 8,946 5,117 2,795 3,552 2,563 2,454 2,156 306 27,889\nGrowth % 15.3 19.8 20.6 18.9 (6.0) 1.7 10.4 (45.4) 12.9\nSegmental operating margin (%)\n2022 26.5 34.6 22.2 29.2 18.1 24.9 27.9 4.8 25.9\n2021 27.5 34.7 22.1 28.3 27.1 28.7 31.4 9.9 27.8\n118\nInfosys Integrated Annual Report 2021-22",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_cash_flow",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "20443 cr  free cash",
      "golden_context": "Page 15:\n\nInfosys achieved industry-\nleading revenue growth of\n15.4% with healthy operating\nmargin of 21.0% for fiscal\n2023. Our ESG Vision 2030 and\nambitions continue to drive\nvalue for all our stakeholders.\nWomen employees\n39.4%\nSteady progress towards\ngender diversity goals\nRevenues\n₹ 1,46,767cr\n20.7% growth Y-o-Y\n15.4% CC growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n62.2%\n25.6% CC growth Y-o-Y\nOperating margin\n21.0%\nRobust operating margin\nBasic earnings per share\n(par value of ₹ 5 each)\n57.63\n9.7% growth Y-o-Y\nConsolidated cash and\ninvestments(2)\n₹ 31,286cr\nContinue to main strong\nliquidity position\nBuyback completed\n₹ 9,300cr\nat an average price of ₹ 1,539.06\nReturn on equity\n31.2%\nImproved by 2.1% over\nthe last fiscal\nFree cash(1)\n₹ 20,443cr\nFCF conversion at 84.8% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n$9.8b\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\nDividend per share (in ₹)\n34.0\n9.7% growth Y-o-Y\n75\nStrong client metrics with increase\nof 11 clients Y-o-Y\nTech for Good\n114mn +\nDigital skilling\n8.5mn\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nCarbon offset programs\n2,40,000+\nRural families continue to benefit\nPeople are a part of our digital\nskilling initiatives\nCarbon neutrality\nCarbon neutral for\n4 years in a row\nScope 1, 2 and 3 emissions~50,000\nFresh graduates hired globally\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows\nprepared under IFRS.\n(2)\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, and others.\nKey trends\nMarket capitalization 72,351 104,706 79,760 34,966 47,614\nNotes:\n(1)\n(2)\nBased on IFRS consolidated financial statements\nAttributable to owners of the Company\n28 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_company_type",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 356:\n\ner matters. Generally, these forward-looking statements can be identified by the use of forward-looking terminology\nsuch as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘seek’, ‘should’ and similar expressions. Those statements\ninclude, among other things, risks and uncertainties relating to the execution of our business strategy, increased competition for talent,\nincrease in wages, investments to reskill our employees, hybrid work model, economic uncertainties, technological disruption, complex\nand evolving regulatory landscape, including immigration regulation changes, ESG vision, Capital Allocation Policy and expectations\nconcerning our market position, future operations, margins, profitability, liquidity, capital resources and corporate actions.\nThese statements are subject to known and unknown risks, uncertainties and other factors, which may cause actual results or outcomes\nto differ materially from those implied by the forward-looking statements. Important factors that may cause actual results or outcomes\nto differ from those implied by the forward-looking statements include, but are not limited to, those discussed in the “Outlook, risks\nand concerns” section in this Annual Report, and are discussed in detail in our Form 20-F filed with the U.S. Securities and Exchange\nCommission. In the light of these and other uncertainties, you should not conclude that the results or outcomes referred to in any of the\nforward-looking statements will be achieved. All forward-looking statements included in this Annual Report are based on information\nand estimates available to us on the date hereof, and we do not undertake any obligation to update these forward-looking statements\nunless required to do so by law.\nCreative concept and design by Communication Design Group, Infosys Limited.\n© 2023 Infosys Limited, Bengaluru, India. Infosys acknowledges the proprietary rights in the trademarks and product names of other companies mentioned in this report.\nInfosys Integrated Annual Report 2022-23",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_key_financials",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "146767 cr revenues, operating margin 21%, 31.2% return on equity, 31286 cr consolidated cash and investments",
      "golden_context": "Page 15:\n\nInfosys achieved industry-\nleading revenue growth of\n15.4% with healthy operating\nmargin of 21.0% for fiscal\n2023. Our ESG Vision 2030 and\nambitions continue to drive\nvalue for all our stakeholders.\nWomen employees\n39.4%\nSteady progress towards\ngender diversity goals\nRevenues\n₹ 1,46,767cr\n20.7% growth Y-o-Y\n15.4% CC growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n62.2%\n25.6% CC growth Y-o-Y\nOperating margin\n21.0%\nRobust operating margin\nBasic earnings per share\n(par value of ₹ 5 each)\n57.63\n9.7% growth Y-o-Y\nConsolidated cash and\ninvestments(2)\n₹ 31,286cr\nContinue to main strong\nliquidity position\nBuyback completed\n₹ 9,300cr\nat an average price of ₹ 1,539.06\nReturn on equity\n31.2%\nImproved by 2.1% over\nthe last fiscal\nFree cash(1)\n₹ 20,443cr\nFCF conversion at 84.8% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n$9.8b\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\nDividend per share (in ₹)\n34.0\n9.7% growth Y-o-Y\n75\nStrong client metrics with increase\nof 11 clients Y-o-Y\nTech for Good\n114mn +\nDigital skilling\n8.5mn\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nCarbon offset programs\n2,40,000+\nRural families continue to benefit\nPeople are a part of our digital\nskilling initiatives\nCarbon neutrality\nCarbon neutral for\n4 years in a row\nScope 1, 2 and 3 emissions~50,000\nFresh graduates hired globally\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows\nprepared under IFRS.\n(2)\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, and others.\nKey trends\nMarket capitalization 72,351 104,706 79,760 34,966 47,614\nNotes:\n(1)\n(2)\nBased on IFRS consolidated financial statements\nAttributable to owners of the Company\n28 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_revenue",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "146767 cr revenues",
      "golden_context": "Page 15:\n\nInfosys achieved industry-\nleading revenue growth of\n15.4% with healthy operating\nmargin of 21.0% for fiscal\n2023. Our ESG Vision 2030 and\nambitions continue to drive\nvalue for all our stakeholders.\nWomen employees\n39.4%\nSteady progress towards\ngender diversity goals\nRevenues\n₹ 1,46,767cr\n20.7% growth Y-o-Y\n15.4% CC growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n62.2%\n25.6% CC growth Y-o-Y\nOperating margin\n21.0%\nRobust operating margin\nBasic earnings per share\n(par value of ₹ 5 each)\n57.63\n9.7% growth Y-o-Y\nConsolidated cash and\ninvestments(2)\n₹ 31,286cr\nContinue to main strong\nliquidity position\nBuyback completed\n₹ 9,300cr\nat an average price of ₹ 1,539.06\nReturn on equity\n31.2%\nImproved by 2.1% over\nthe last fiscal\nFree cash(1)\n₹ 20,443cr\nFCF conversion at 84.8% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n$9.8b\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\nDividend per share (in ₹)\n34.0\n9.7% growth Y-o-Y\n75\nStrong client metrics with increase\nof 11 clients Y-o-Y\nTech for Good\n114mn +\nDigital skilling\n8.5mn\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nCarbon offset programs\n2,40,000+\nRural families continue to benefit\nPeople are a part of our digital\nskilling initiatives\nCarbon neutrality\nCarbon neutral for\n4 years in a row\nScope 1, 2 and 3 emissions~50,000\nFresh graduates hired globally\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows\nprepared under IFRS.\n(2)\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, and others.\nKey trends\nMarket capitalization 72,351 104,706 79,760 34,966 47,614\nNotes:\n(1)\n(2)\nBased on IFRS consolidated financial statements\nAttributable to owners of the Company\n28 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_revenue_growth",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "20.7% growth",
      "golden_context": "Page 15:\n\nInfosys achieved industry-\nleading revenue growth of\n15.4% with healthy operating\nmargin of 21.0% for fiscal\n2023. Our ESG Vision 2030 and\nambitions continue to drive\nvalue for all our stakeholders.\nWomen employees\n39.4%\nSteady progress towards\ngender diversity goals\nRevenues\n₹ 1,46,767cr\n20.7% growth Y-o-Y\n15.4% CC growth Y-o-Y\nDigital revenues\n(as a % of total revenue)\n62.2%\n25.6% CC growth Y-o-Y\nOperating margin\n21.0%\nRobust operating margin\nBasic earnings per share\n(par value of ₹ 5 each)\n57.63\n9.7% growth Y-o-Y\nConsolidated cash and\ninvestments(2)\n₹ 31,286cr\nContinue to main strong\nliquidity position\nBuyback completed\n₹ 9,300cr\nat an average price of ₹ 1,539.06\nReturn on equity\n31.2%\nImproved by 2.1% over\nthe last fiscal\nFree cash(1)\n₹ 20,443cr\nFCF conversion at 84.8% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n$9.8b\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\nDividend per share (in ₹)\n34.0\n9.7% growth Y-o-Y\n75\nStrong client metrics with increase\nof 11 clients Y-o-Y\nTech for Good\n114mn +\nDigital skilling\n8.5mn\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nCarbon offset programs\n2,40,000+\nRural families continue to benefit\nPeople are a part of our digital\nskilling initiatives\nCarbon neutrality\nCarbon neutral for\n4 years in a row\nScope 1, 2 and 3 emissions~50,000\nFresh graduates hired globally\nNote:\n(1)\nFree cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows\nprepared under IFRS.\n(2)\nComprise cash and cash equivalents, current and non-current investments excluding investments in unquoted equity and preference shares, and others.\nKey trends\nMarket capitalization 72,351 104,706 79,760 34,966 47,614\nNotes:\n(1)\n(2)\nBased on IFRS consolidated financial statements\nAttributable to owners of the Company\n28 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000448_segments",
      "report_id": "ID_000448",
      "company_name": "Infosys",
      "year": 2023,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Financial Services and Insurance; enterprises in Manufacturing; enterprises in Retail, Consumer Packaged Goods and Logistics; enterprises in the Energy, Utilities, Resources and Services; enterprises in Communication, Telecom OEM and Media; enterprises in Hi‑Tech; enterprises in Life Sciences and Healthcare; and all other segments",
      "golden_context": "Page 77:\n\novided for our tax liability both in India and overseas.\nThe applicable Indian corporate statutory tax rate for both the\nyears ended March 31, 2023, and March 31, 2022 is 34.94%.\nEffective tax rate is generally influenced by various factors,\nincluding differential tax rates, non-deductible expenses,\nexempt non-operating income, overseas taxes, benefits from\nSEZ units, tax reversals and provisions pertaining to prior periods\nprimarily on account of adjudication of certain disputed matters,\nfiling of tax return and completion of assessments, across\nvarious jurisdictions.\nBusiness segments – Consolidated\n5. Segmental profitability\nThe Company’s operations predominantly relate to providing\nend-to-end business solutions to enable clients to enhance\nperformance of their business. Business segments of the\nCompany are primarily enterprises in Financial Services\nand Insurance; enterprises in Manufacturing; enterprises in\nRetail, Consumer Packaged Goods and Logistics; enterprises\nin the Energy, Utilities, Resources and Services; enterprises\nin Communication, Telecom OEM and Media; enterprises in\nHi‑Tech; enterprises in Life Sciences and Healthcare; and all other\nsegments. All other segments represent the operating segments\nof businesses in India, Japan, China, Infosys Public Services and\nother enterprises in public services. This is discussed in detail\nin Note 2.26 to the Consolidated financial statements in this\nIntegrated Annual Report.\n(In ₹ crore)\nParticulars Financial\nServices\nRetail Communication Energy, Utilities,\nResources and\nServices\nManufacturing Hi-Tech Life\nSciences\nAll other\nsegments\nTotal\nSegmental revenues\n2023 43,763 21,204 18,086 18,539 19,035 11,867 10,085 4,188 1,46,767\n2022 38,902 17,734 15,182 14,484 13,336 10,036 8,517 3,450 1,21,641\nGrowth (%) 12.5 19.6 19.1 28.0 42.7 18.2 18.4 21.4 Segmental operating income\n2023 10,843 6,396 3,759 5,155 3,113 2,959 2,566 339 35,130\n2022 10,314 6,130 3,372 4,225 2,408 2,495 2,380 167 31,491\nGrowth (%) 5.1 4.3 11.5 22.0 29.3 18.6 7.8 103.0 Segmental operating margin (%)\n2023 24.8 30.2 20.8 27.8 16.4 24.9 25.4 8.1 2022 26.5 34.6 22.2 29.2 18.1 24.9 27.9 4.8 25.9\n20.7\n11.6\n23.9\nThe following graph sets forth our revenue by geography:\n90,724 (61.8%)\n14,507 (9.9%)\n3,861 (2.6%)\n37,675 (25.7%)\n75,058 (61.7%)\n12,869 (10.6%)\n3,585 (2.9%)\n30,129 (24.8%)\n(In ₹ crore)\nTotal\n1,46,767\nTotal\n1,21,641\n2023 2022\n6. Liquidity\nOur principal source of liquidity are cash and cash equivalents\nand cash flow that we generate from operations. We have no\noutstanding borrowings. We believe our working capital is\nsufficient for our requirements.\nOur growth has been financed largely through cash\ngenerated from operations.\nOur cash flows are robust. Our operating cash flows have\ndecreased in fiscal 2023 as compared to fiscal 2022 mainly\non account of outflow in working capital and hi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_cash_flow",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "23865 cr free cash",
      "golden_context": "Page 15:\n\nPerformance overview\nBusiness highlights\n85% of free cash flow for fiscal 2020 to fiscal 2024 returned to shareholders in line with the\nCapital Allocation Policy.\nRevenues\n₹ 1,53,670 cr\n4.7% growth Y-o-Y\n1.4% CC growth Y-o-Y\nBasic earnings per share\n(par value of ₹ 5 each)\n63.39\n10.0% growth Y-o-Y\nConsolidated cash and\ninvestments(1)\n₹ 39,005 cr\nContinue to main strong\nliquidity position\nDividend per share(2) (in ₹)\n46.0\n35.3% growth Y-o-Y\nOperating margin\n20.7%\nRobust operating margin\nReturn on equity(3)\n32.1%\nImproved by 0.9% over\nthe last fiscal\nFree cash(4)\n₹ 23,865 cr\nFCF conversion at 90.9% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n17.7\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\n83\nStrong client metrics with increase\nof 8 clients Y-o-Y\nTech for Good\n119 mn +\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nWomen employees\n39.3%\nSteady progress towards\ngender diversity goals\nKey trends\nCarbon offset programs\n2,64,000+\nRural families continue to benefit\nIn ₹ crore, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 1,53,670 1,46,767 1,21,641 1,00,472 90,791\nNet profit*# 26,233 24,095 22,110 19,351 16,594\nBasic earnings per share (in ₹)* 63.39 57.63 52.52 45.61 38.97\nMarket capitalization 6,21,821 5,92,394 8,02,162 5,82,880 2,73,214\nIn US$ million, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 18,562 18,212 16,311 13,561 12,780\nNet profit*# 3,167 2,981 2,963 2,613 2,331\nBasic earnings per share (in ₹)* 0.77 0.71 0.70 0.62 0.55\nCarbon neutrality\nCarbon neutral for\n5 years in a row\nScope 1, 2 and 3 emissions Digital skilling\n11.75mn\nPeople are a part of our digital\nskilling initiatives\nMarket capitalization 74,425 72,351 104,706 79,760 34,966\nNotes:\n*\nBased on IFRS consolidated financial statements\n#\nAttributable to owners of the Company\n28\n2,50,000+\nAI Aware employees\nNote:\n(1)\nComprise cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares, and others.\n(2)\nDividend includes special dividend of `8.00 per share.\n(3)\nAs per the consolidated financial statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_company_type",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 351:\n\nInfosys\t2023\tIN\t#N/A",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_key_financials",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "153670 cr revenues, basic EPS: 63.39, 20.7% operating margin: 32.1% return on equity",
      "golden_context": "Page 15:\n\nPerformance overview\nBusiness highlights\n85% of free cash flow for fiscal 2020 to fiscal 2024 returned to shareholders in line with the\nCapital Allocation Policy.\nRevenues\n₹ 1,53,670 cr\n4.7% growth Y-o-Y\n1.4% CC growth Y-o-Y\nBasic earnings per share\n(par value of ₹ 5 each)\n63.39\n10.0% growth Y-o-Y\nConsolidated cash and\ninvestments(1)\n₹ 39,005 cr\nContinue to main strong\nliquidity position\nDividend per share(2) (in ₹)\n46.0\n35.3% growth Y-o-Y\nOperating margin\n20.7%\nRobust operating margin\nReturn on equity(3)\n32.1%\nImproved by 0.9% over\nthe last fiscal\nFree cash(4)\n₹ 23,865 cr\nFCF conversion at 90.9% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n17.7\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\n83\nStrong client metrics with increase\nof 8 clients Y-o-Y\nTech for Good\n119 mn +\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nWomen employees\n39.3%\nSteady progress towards\ngender diversity goals\nKey trends\nCarbon offset programs\n2,64,000+\nRural families continue to benefit\nIn ₹ crore, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 1,53,670 1,46,767 1,21,641 1,00,472 90,791\nNet profit*# 26,233 24,095 22,110 19,351 16,594\nBasic earnings per share (in ₹)* 63.39 57.63 52.52 45.61 38.97\nMarket capitalization 6,21,821 5,92,394 8,02,162 5,82,880 2,73,214\nIn US$ million, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 18,562 18,212 16,311 13,561 12,780\nNet profit*# 3,167 2,981 2,963 2,613 2,331\nBasic earnings per share (in ₹)* 0.77 0.71 0.70 0.62 0.55\nCarbon neutrality\nCarbon neutral for\n5 years in a row\nScope 1, 2 and 3 emissions Digital skilling\n11.75mn\nPeople are a part of our digital\nskilling initiatives\nMarket capitalization 74,425 72,351 104,706 79,760 34,966\nNotes:\n*\nBased on IFRS consolidated financial statements\n#\nAttributable to owners of the Company\n28\n2,50,000+\nAI Aware employees\nNote:\n(1)\nComprise cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares, and others.\n(2)\nDividend includes special dividend of `8.00 per share.\n(3)\nAs per the consolidated financial statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_revenue",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "153670 cr revenues",
      "golden_context": "Page 15:\n\nPerformance overview\nBusiness highlights\n85% of free cash flow for fiscal 2020 to fiscal 2024 returned to shareholders in line with the\nCapital Allocation Policy.\nRevenues\n₹ 1,53,670 cr\n4.7% growth Y-o-Y\n1.4% CC growth Y-o-Y\nBasic earnings per share\n(par value of ₹ 5 each)\n63.39\n10.0% growth Y-o-Y\nConsolidated cash and\ninvestments(1)\n₹ 39,005 cr\nContinue to main strong\nliquidity position\nDividend per share(2) (in ₹)\n46.0\n35.3% growth Y-o-Y\nOperating margin\n20.7%\nRobust operating margin\nReturn on equity(3)\n32.1%\nImproved by 0.9% over\nthe last fiscal\nFree cash(4)\n₹ 23,865 cr\nFCF conversion at 90.9% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n17.7\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\n83\nStrong client metrics with increase\nof 8 clients Y-o-Y\nTech for Good\n119 mn +\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nWomen employees\n39.3%\nSteady progress towards\ngender diversity goals\nKey trends\nCarbon offset programs\n2,64,000+\nRural families continue to benefit\nIn ₹ crore, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 1,53,670 1,46,767 1,21,641 1,00,472 90,791\nNet profit*# 26,233 24,095 22,110 19,351 16,594\nBasic earnings per share (in ₹)* 63.39 57.63 52.52 45.61 38.97\nMarket capitalization 6,21,821 5,92,394 8,02,162 5,82,880 2,73,214\nIn US$ million, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 18,562 18,212 16,311 13,561 12,780\nNet profit*# 3,167 2,981 2,963 2,613 2,331\nBasic earnings per share (in ₹)* 0.77 0.71 0.70 0.62 0.55\nCarbon neutrality\nCarbon neutral for\n5 years in a row\nScope 1, 2 and 3 emissions Digital skilling\n11.75mn\nPeople are a part of our digital\nskilling initiatives\nMarket capitalization 74,425 72,351 104,706 79,760 34,966\nNotes:\n*\nBased on IFRS consolidated financial statements\n#\nAttributable to owners of the Company\n28\n2,50,000+\nAI Aware employees\nNote:\n(1)\nComprise cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares, and others.\n(2)\nDividend includes special dividend of `8.00 per share.\n(3)\nAs per the consolidated financial statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_revenue_growth",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "4.7% growth",
      "golden_context": "Page 15:\n\nPerformance overview\nBusiness highlights\n85% of free cash flow for fiscal 2020 to fiscal 2024 returned to shareholders in line with the\nCapital Allocation Policy.\nRevenues\n₹ 1,53,670 cr\n4.7% growth Y-o-Y\n1.4% CC growth Y-o-Y\nBasic earnings per share\n(par value of ₹ 5 each)\n63.39\n10.0% growth Y-o-Y\nConsolidated cash and\ninvestments(1)\n₹ 39,005 cr\nContinue to main strong\nliquidity position\nDividend per share(2) (in ₹)\n46.0\n35.3% growth Y-o-Y\nOperating margin\n20.7%\nRobust operating margin\nReturn on equity(3)\n32.1%\nImproved by 0.9% over\nthe last fiscal\nFree cash(4)\n₹ 23,865 cr\nFCF conversion at 90.9% of net profit\nLarge deal TCV\n(Total contract value in US$ billion)\n17.7\nSustained momentum in large\ndeal wins continues\nNumber of US$ 50 million + clients\n83\nStrong client metrics with increase\nof 8 clients Y-o-Y\nTech for Good\n119 mn +\nLives empowered via our Tech for\nGood solutions in e-governance,\neducation and healthcare\nWomen employees\n39.3%\nSteady progress towards\ngender diversity goals\nKey trends\nCarbon offset programs\n2,64,000+\nRural families continue to benefit\nIn ₹ crore, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 1,53,670 1,46,767 1,21,641 1,00,472 90,791\nNet profit*# 26,233 24,095 22,110 19,351 16,594\nBasic earnings per share (in ₹)* 63.39 57.63 52.52 45.61 38.97\nMarket capitalization 6,21,821 5,92,394 8,02,162 5,82,880 2,73,214\nIn US$ million, except per equity share data FY 2024 FY 2023 FY 2022 FY 2021 FY 2020\nRevenues* 18,562 18,212 16,311 13,561 12,780\nNet profit*# 3,167 2,981 2,963 2,613 2,331\nBasic earnings per share (in ₹)* 0.77 0.71 0.70 0.62 0.55\nCarbon neutrality\nCarbon neutral for\n5 years in a row\nScope 1, 2 and 3 emissions Digital skilling\n11.75mn\nPeople are a part of our digital\nskilling initiatives\nMarket capitalization 74,425 72,351 104,706 79,760 34,966\nNotes:\n*\nBased on IFRS consolidated financial statements\n#\nAttributable to owners of the Company\n28\n2,50,000+\nAI Aware employees\nNote:\n(1)\nComprise cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares, and others.\n(2)\nDividend includes special dividend of `8.00 per share.\n(3)\nAs per the consolidated financial statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000449_segments",
      "report_id": "ID_000449",
      "company_name": "Infosys",
      "year": 2024,
      "country": "IN",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Financial Services and Insurance; enterprises in Manufacturing; enterprises in Retail, Consumer Packaged Goods and Logistics; enterprises in the Energy, Utilities, Resources and Services; enterprises in Communication, Telecom OEM and Media; enterprises in Hi‑Tech; enterprises in Life Sciences and Healthcare; and all other segments. ",
      "golden_context": "Page 72:\n\n March 31, 2023 is 34.94%.\nEffective tax rate is generally influenced by various factors,\nincluding differential tax rates, non-deductible expenses,\nexempt non-operating income, overseas taxes, benefits from\nSEZ units, tax reversals and provisions pertaining to prior periods\nprimarily on account of adjudication of certain disputed matters,\nfiling of tax return and completion of assessments, across\nvarious jurisdictions.\nProvision for tax includes net tax reversal of ₹38 crore on\naccount of orders received under Sections 250 and 254 of\nthe Income-tax Act, 1961, from the income tax authorities in\nBusiness segments – Consolidated\nIndia for certain assessment years. These orders confirmed the\nCompany's position with respect to tax treatment of certain\ncontentious matters and upon resolution of the disputes , an\namount aggregating to ₹1,628 crore has been reduced from\ncontingent liabilities.\n5. Segmental profitability\nThe Company’s operations predominantly relate to providing\nend-to-end business solutions to enable clients to enhance\nperformance of their business. Business segments of the\nCompany are primarily enterprises in Financial Services\nand Insurance; enterprises in Manufacturing; enterprises in\nRetail, Consumer Packaged Goods and Logistics; enterprises\nin the Energy, Utilities, Resources and Services; enterprises\nin Communication, Telecom OEM and Media; enterprises in\nHi‑Tech; enterprises in Life Sciences and Healthcare; and all other\nsegments. All other segments represent the operating segments\nof businesses in India, Japan, China, Infosys Public Services\nand other enterprises in public services. This is discussed in\ndetail in Note 2.26 to the Consolidated financial statement in this\nIntegrated Annual Report.\n(In ₹ crore)\nParticulars Financial\nServices\nRetail Communication Energy, Utilities,\nResources and\nServices\nManufacturing Hi-Tech Life\nSciences\nAll other\nsegments\nTotal\nSegmental revenues\n2024 42,158 22,504 17,991 20,035 22,298 12,411 11,515 4,758 1,53,670\n2023 43,763 21,204 18,086 18,539 19,035 11,867 10,085 4,188 1,46,767\nGrowth (%) (3.7) 6.1 (0.5) 8.1 17.1 4.6 14.2 13.6 4.7\nSegmental operating income\n2024 9,324 6,882 3,688 5,523 4,197 3,153 2,898 760 36,425\n2023 10,843 6,396 3,759 5,155 3,113 2,959 2,566 339 35,130\nGrowth (%) (14.0) 7.6 (1.9) 7.1 34.8 6.6 12.9 124.2 3.7\nSegmental operating margin (%)\n2024 22.1 30.6 20.5 27.6 18.8 25.4 25.2 16.0 23.7\n2023 24.8 30.2 20.8 27.8 16.4 24.9 25.4 8.1 23.9\nThe following graph sets forth our revenue by geography:\n(In ₹ crore)\n2024 2023\n92,411\n15,111\n3,881\n42,267\n(60.1%)\n(9.8%)\n(2.5%)\n(27.6%)\nTotal\n1,53,670\n90,724\n14,507\n3,861\n37,675\n(61.8%)\n(9.9%)\n(2.6%)\n(25.7%)\nTotal\n1,46,767\nOverall segment profitability has decreased primarily on account\nof the increase in employee compensation, higher cost of third-\nparty items bought for service delivery to clients as part of deals,\na one-off impact arising from contract renegotiation / rescoping\nand cyber impact largely offset by benefit from Project Maximus\nthrough improved utilization, decrease in cost of technical sub-\ncontractors etc., and currency benefits.\n6. Liquidity\nOur principal source of liquidity are cash and cash equivalents\nand cash flow that we generate from operations. We have no\noutstanding borrowings. We believe our working capital is\nsufficient for our requirements.\nOur growth has been financed largely through cash",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_cash_flow",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 5572306.96 lakhs, investing: -5418587.24 lakhs, financing: 0",
      "golden_context": "Page 369:\n\n01 Name of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\nàmpßV Ed§ ^wJVmZ boIm\nRECEIPT AND PAYMENTS ACCOUNT\n31 _mM©, 2021 H mo Hw b ì`dgm` go g§~§{YV ZH X àdmh {ddaU\nCASH FLOW STATEMENT AS AT 31ST MARCH, 2021 IN RESPECT OF TOTAL BUSINESS\n(` bmIm| _|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\nn{aMmbZ J{V{d{Y`m| go ZH X àdmh:\nCash Flows from the operating activities:\n1 nm°{bgrYmaHm| go àmßV àr{_`_, {Og_o A{J«_ àm{ßV`m± em{_b h|\nPremium received from policyholders, including advance receipts\n2 AÝ` àm{ßV`m±\nOther recei1pts\n3 nwZ:~r_mHVm©Am| Hmo ^wJVmZ, H{_eZ Ed§ Xmdm| go ewÜX\nPayments to the re-insurers, net of commissions and claims/ Benefits\n4 gh ~r_mH§nZr`mo Hmo ^wJVmZ, Xmdm|/bm^ go ewÜX\nPayments to co-insurers, net of claims / benefit recovery\n5 Xmdm|/bm^ Hm ^wJVmZ\nPayments of claims/benefits\n6 H{_eZ Am¡a Xbmbr Hm ^wJVmZ\nPayments of commission and brokerage\n7 AÝ` n{aMmbZ ì``m| Hm ^wJVmZ\nPayments of other operating expenses\n8 àma§{^H Ed§ nwd©-Amnao{Qd ì``\nPreliminary and pre-operative expenses\n9 O_m, A{J«_ Am¡a ñQm\\ FU\nDeposits, advances and staff loans\n10 Am`Ha Hm ^wJVmZ (ewÜX)\nIncome taxes paid (Net)\n11 godmHa/OrgQr Hm ^wJVmZ\nService tax/ GST paid\n12 AgmYmaU _Xm| go nwd© ZHX àdmh\nCash flows before extraordinary items\n13 AgmYmaU g§MmbZ go ZHX àdmh ({ddaU Xo)\nCash flow from extraordinary operations (give break-up)\nn{aMmbZ J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from operating activities:\n40753470.81 37599412.23\n59950.49 146897.74\n(4904.62) (3147.99)\n0.00 0.00\n(28529648.07) (24630580.78)\n(2184439.10) (2135509.36)\n(2872522.32) (2294403.54)\n0.00 0.00\n(470441.84) (72091.20)\n(943002.75) (770546.03)\n(236155.65) (363162.43)\n5572306.96 7476868.64\n0.00 0.00\n5572306.96 7476868.64\n\nPage 370:\n\nàmpßV Ed§ ^wJVmZ boIm\nRECEIPT AND PAYMENTS ACCOUNT\n31 _mM©, 2021 H mo Hw b ì`dgm` go g§~§{YV ZH X àdmh {ddaU\nCASH FLOW STATEMENT AS AT 31ST MARCH, 2021 IN RESPECT OF TOTAL BUSINESS\n{Zdoe J{V{d{Y`m| go ZH X àdmh:\nCash flows from investing activities:\n14 AMb g§n{ËV`m| Hr IarX\nPurchase of fixed assets\n15 AMb g§n{ËV`m| Hr {~H«r go àm{ßV`m±\nProceeds from sale of fixed assets\n16 {Zdem| Hr IarX\nPurchases of investments\n17 {dV{aV FU (^wJVmZ go ewÜX)\nLoans disbursed (Net of Repayments)\n18 {Zdem| Hr {~H«r\nSales of investments\n19 {Ham`m/ã`mO/bm^m§e àmßV\nRents/Interests/ Dividends received\n20 _wÐm ~mOma CnHaUm| Am¡a Vab å`wMwAb \\§S (ewÜX) _| {Zdoe\nInvestments in money market instruments and in liquid mutual funds (Net)\n21 {Zdoem| g| g§~§{YV ì``\nExpenses related to investments\n{Zdoe J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from investing activities {dËVr` J{V{d{Y`m| go ZH X àdmh:\nCash flows from financing activities:\nEbAmB©gr ({g§Jmnwa) _| n«XËV A§enw§Or\n0.00 5235.00\nCapital infusion to LIC (Singapore) Pte ltd\nHO© boZo go àm{ßV`m± / Proceeds from borrowing HO© Hm ^wJVmZ / Repayments of borrowing 0.00 0.00\nã`mO/bm^m§e Hm ^wJVmZ / Interest/dividends paid 0.00 0.00\n0.00 (266059.55)\n{dËVr` J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from financing activities\nZHX Am¡a ZHX Ho g_Vwë` ewÜX na {dXoer _wÐm Xam| Hm à^md\nEffect of foreign exchange rates on cash and cash equivalents, net\nZHX Am¡a ZHX Ho g_Vwë` _| {Zdb d¥{ÜX\nNet Increase in cash & cash equivalents\ndf© Ho àm§a^ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the beginning of the year\ndf© Ho AV§ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the end of the year\n(5418587.24) (8576259.00)\n0.00 (260824.55)\n17305.64 4055.63\n171025.36 (1356159.27)\n2862370.70 4218529.97\n3033396.06 2862370.70\n368\ndt\n64 th\ndm{f©H [anmoQ©\nANNUAL REPORT\nh_mar Cg VmarI dmbr [anmoQ>© Ho$ AZwgma\nAs per our report of even date\nIÊSo>dmb O¡Z E§S> H§$. Ho$ {bE\nFor Khandelwal Jain & Co.\nChartered Accountants\nF.R.N. / 105049W\ne¡boe emh (nmQ>©Za)\nShailesh Shah (Partner)\ng.H«$./M.No.033632\nPlace : Mumbai\nAma. Or. EZ. àmB©g E§S> H§$. Ho$ {bE\nFor R. G. N. Price & Co.\nChartered Accountants\nF.R.N/ 002785S\nE. Ama. nmW©gmaWr (nmQ>©Za)\nA. R. Parthasarathy (Partner)\ng.H«$./M. No. 205702\nPlace : Chennai\nEg Ho$ H$nya E§S> H§$. Ho$ {bE\nFor S.K. Kapoor & Co.\nE~rE_ E§S> Agmo{gEQ²g EbEbnr Ho$ {bE\nChartered Accountants\nFor abm & associates LLP\nF.R.N./000745C\nChartered Accountants\ndr ~r qgh (nmQ>©Za)\nF.R.N./105016W/W-100015\nV. B. Singh (Partner)\nApídZ ~r. _moM} (nmQ>©Za)\ng.H«$./M.No. 073124\nAshwin B. Morche (Partner)\nPlace : Kanpur\ng.H«$./M.No./104126\nPlace : Belgaum\nEg. Eb N>mOo‹S> E§S> H§$. EbEbnr\nHo$ {bE\nFor S. L. Chhajed & Co. LLP\nChartered Accountants\nF.R.N./000709C/C400277\ndrOrV ~¡X_wWm (nmQ>©Za)\nVijit Baidmutha (Partner)\ng.H«$./M.No. 406044\nPlace : Bhopal\n~mQ>br~m°` E§S> nwamo{hV Ho$ {bE\nFor Batliboi & Purohit\nChartered Accountants\nF.R.N./101048W\nnamJ h§JoH$a (nmQ>©Za)\nParag Hangekar (Partner)\ng.H«$./M.No./110096\nPlace : Mumbai\nQ>mo‹S>r Vwëg`mZ E§S> H§$. Ho$ {bE\nFor Todi Tulsyan & Co.\nChartered Accountants\nF.R.N./002180C\ngwerb Hw$_ma Vwëg`mZ (nmQ>©Za)\nSushil Kumar Tulsyan (\nPartner )\ng.H«$./M.No./075899\nPlace : Patna\nao E§S> ao Ho$ {bE\nFor Ray & Ray\nChartered Accountants\nF.R.N./301072E\nZ~{ZVm Kmof (nmQ>©Za)\nNabanita Ghosh (Partner)\ng.H«$./M.No. 058477\nPlace : Kolkata\nE Ama E§S> H§$. Ho$ {bE\nFor A R & Co.\nChartered Accountants\nF.R.N./002744C\nndZ Ho$. Jmo`b (nmQ>©Za)\nPawan K. Goel (Partner)\ng.H«$./M.No. 072209\nPlace : Chennai\nam__y{V© (EZ) E§S> H§$nZr Ho$ {bE\nFor Ramamoorthy (N) &Co.\nChartered Accountants\nF.R.N./002899S\ngwaoÝÐZmW ^maVr (nmQ>©Za)\nSurendranath Bharathi (\nPartner )\ng.H«$./M.No.023837\nPlace : Hyderabad\nE_. Ama. Hw$_ma\nM. R. Kumar\namO Hw$_ma\nRaj Kumar\n{gÕmW© _hmpÝV\nSiddhartha Mohanty\nXodoe lrdmñVdm\nDevesh Srivastava\new^m§Jr g§. gmo_U\nShubhangi S. Soman\n{XZoe n§V\nDinesh Pant\nAÜ`j\nChairman\nà~§Y {ZXoeH$\nManaging Director\n}\n{ZJ_ Ho$ gXñ`\nMembers of the Corporation\nH$m`©H$mar {ZXoeH$ ({dÎm Ed§ boIm)\nExective Directior (F&A)\n{Z`wº$ ~r_m§H$H$\nAppointed Actuar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_company_type",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No explicit legal form mentioned",
      "golden_context": "Page 207:\n\nFORM A- BS\nName of the Insurer: Life Insurance Corporation of India\nRegistration No. : 512 Dated 01.01.2001\nBALANCE SHEET AS AT 31ST MARCH, 2021\nMmby df©\nCurrent Year\nHw$b\nTotal\n{nN>bo df©\nPrevious Year\nJ¡a-g§~Õ ì¶dgm¶\nNon-linked Business\n^maV ‘|\nIn India\n^maV Ho$ ~mha\nOut of India\ng§~Õ ì¶dgm¶\nLinked Business Hw$b\n^maV ‘|\n^maV Ho$ ~mha\nTotal\nIn India\nOut of India\n10000.00 10000.00 0.00 0.00 0.00 10000.00\n622499.77 34262.18 27937.92 0.00 0.00 62200.10\n3569.45 0.00 1752.59 0.00 0.00 1752.59\n636069.22 44262.18 29690.51 0.00 0.00 73952.69\n0.00 0.00",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_key_financials",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "net total income: 682205 crore, total premium income: 402844.35 crore",
      "golden_context": "Page 165:\n\nSUMMARISED RESULTS (CONTD.)\nINCOME 2020-2021 2019-2020\n(` In crore) (` In crore)\nIndividual Assurance\nFirst Year Premium 27576.15 29356.08\nPercentage Increase over Previous Year -6.06 10.42\nRenewal Premium 210094.39 192738.91\nSingle Premium & Consideration for Annuities Granted 28291.76 22021.02\nIndividual Pension Schemes\nFirst Year Premium 3.96 23.71\nRenewal Premium 576.64 620.26\nConsideration for Annuities Granted 0.00 8.48\nGroup Schemes\nGroup Insurance Premium 39183.96 31833.56\nGroup Superannuation Premium 95723.58 101711.44\nLINKED BUSINESS PREMIUM 1393.91 749.10\nTotal Premium Income 402844.35 379062.56\nPercentage Increase over Previous Year 6.27 12.42\nIncome from Investments (including capital gain) 272690.16 234187.31\nMiscellaneous 599.51 1475.09\nTotal Income 676134.02 614718.85\nVariation due to change in Fair Value of linked Business(unit fund) 6070.98 1164.09\nNet Total Income 682205.00 615882.94\n*Previous year figures regrouped wherever necessar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_revenue",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "19847.15 crore",
      "golden_context": "Page 159:\n\nOutstanding Loan as on 31.03.2021 ` 2,32,003 Crore + 10% 14%\nTotal Income for the year 2020-21 ` 19,847.15 Crore + 1% 9%\nNet Profit for the year 2020-21 ` 2,734.34 Crore +14% 9%\nNet worth as on 31.03.2021 20,316.53 Crore\nDividend declared 425%\nb) LIC MUTUAL FUND ASSET MANAGEMENT LIMITED\nLIC Mutual Fund (the “Mutual Fund”) has been constituted as a trust on 20.04.1989 in accordance with the provisions of the Indian\nTrusts Act with LIC of India as the Sponsor, the LIC Mutual Fund Trustee Private Ltd. as the Trustee and LIC Mutual Fund Asset\nManagement Ltd as the Investment Manager to LIC Mutual Fund. The shareholders of LIC Mutual Fund Asset Management are LIC\nof India, LIC Housing Finance Ltd., GIC Housing Finance Ltd., and Union Bank of India.\nAs of 31st March, 2021 LIC Mutual Fund was managing 25 schemes. During the year 2020-21, the AMC has mobilized gross sales\nof ` 1,57,506 Crore from all live schemes. The total number of investors as on 31.03.2021 stood at 4,32,654. Average Assets under\nManagement (AAUM) was ` 16,927 Crore for the last quarter of 2020-21 and it ranked 20th in terms of AAUM amongst Mutual\nFund Industry.\nWith a network of 182 Investor service centers, 29 Area Offices and 151 Sales Team, LIC MF is present in more than 200 locations\nspread over length and breadth of the country. LIC MF has one of the widest distribution networks comprising Mutual Fund\nDistributors, National Distribut",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_revenue_growth",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Growth 1%",
      "golden_context": "Page 159:\n\nOutstanding Loan as on 31.03.2021 ` 2,32,003 Crore + 10% 14%\nTotal Income for the year 2020-21 ` 19,847.15 Crore + 1% 9%\nNet Profit for the year 2020-21 ` 2,734.34 Crore +14% 9%\nNet worth as on 31.03.2021 20,316.53 Crore\nDividend declared 425%\nb) LIC MUTUAL FUND ASSET MANAGEMENT LIMITED\nLIC Mutual Fund (the “Mutual Fund”) has been constituted as a trust on 20.04.1989 in accordance with the provisions of the Indian\nTrusts Act with LIC of India as the Sponsor, the LIC Mutual Fund Trustee Private Ltd. as the Trustee and LIC Mutual Fund Asset\nManagement Ltd as the Investment Manager to LIC Mutual Fund. The shareholders of LIC Mutual Fund Asset Management are LIC\nof India, LIC Housing Finance Ltd., GIC Housing Finance Ltd., and Union Bank of India.\nAs of 31st March, 2021 LIC Mutual Fund was managing 25 schemes. During the year 2020-21, the AMC has mobilized gross sales\nof ` 1,57,506 Crore from all live schemes. The total number of investors as on 31.03.2021 stood at 4,32,654. Average Assets under\nManagement (AAUM) was ` 16,927 Crore for the last quarter of 2020-21 and it ranked 20th in terms of AAUM amongst Mutual\nFund Industry.\nWith a network of 182 Investor service centers, 29 Area Offices and 151 Sales Team, LIC MF is present in more than 200 locations\nspread over length and breadth of the country. LIC MF has one of the widest distribution networks comprising Mutual Fund\nDistributors, National Distribut",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000450_segments",
      "report_id": "ID_000450",
      "company_name": "Life Insurance Corporation of India",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Individual Assurances, General Annuities, Pensions, Non Linked Health, United Linked Business, Group Insurance Business",
      "golden_context": "Page 111:\n\ns. As a result, there has been steady growth of New Business from these areas. The New Business from rural\nareas amounts to Sum Assured of ` 91,961.61 crore under 45,00,369 Policies representing 21.45 % and 15.69 % share of Policies\nand Sum Assured respectively completed during the Financial Year 2020-21. The definition of rural/social sector is as approved\nby IRDAI.\nII. BUSINESS IN-FORCE IN VARIOUS SEGMENTS\na) Individual Assurances:-\nThe business in-force under Individual Assurance portfolio for the last three years is given in Table No. 3A\nb) General Annuities:-\nThe business in-force under General Annuity portfolio for the last three years is given in Table No. 3A.\nc) Pensions:-\nThe business in-force under Pension portfolio for the last three years is given in Table No. 3A.\nd) Non Linked Health:-\nThe business in-force under Non Linked Health portfolio for the current and last years is given in Table No.3A.\ne) Unit Linked Business:-\nThe business in-force under Unit Linked portfolio for the last three years is given in Table No.3A.\nf) Group Insurance Business:-\nThe business in force under Group Insurance Portfolio including Linked Business, for last three years is given in Table No. 3B.\n5. CAPITAL REDEMPTION AND ANNUITY CERTAIN BUSINESS\nAs on March 31, 2021, Annuity Certain Policies numbering 363 were in force for an amount of annuity per annum of ` 106.00 lakh.\nThere were 6,954 Capital Redemption policies in force for a sum assured of ` 16,490.28 lakh.\n6. STATUTORY STATEMENTS REGARDING POLICIES\nThe statements in the form “DD” prescribed under Insurance Act, 1938 have been included in Table No. 4\n7. ORGANIZATIONAL SET UP\nOffices in India\nAs on 31.03.2021, there were 8 Zonal Offices located at Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Kanpur, Bhopal and\nPatna. There were 113",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_cash_flow",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: -378253.58, investing: 1209879.77, financing: 0 (all in lakhs)",
      "golden_context": "Page 580:\n\naU H$s g§»¶m 512 VWm VmarI … 01.01.2001 Name of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\n31 _mM©, 2022 H$mo g_má df© Ho$ {bE ^maVr` OrdZ ~r_m {ZJ_ H$m g_o{H$V ZH$X àdmh {ddaU\nCONSOLIDATED CASH FLOW STATEMENT OF LICI FOR THE YEAR ENDED MARCH 31, 2022\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\n29821.43 (8379.32)\n(2330631.04) (2203335.38)\n(4279890.80) (4212343.68)\n71392.74 1853606.11\n(737432.84) 1117550.88\n578\nn{aMmbZ J{V{d{Y`m| go ZH X àdmh:\nCash Flows from the operating activities:\nnm°{bgrYmaHm| go àmßV àr{_`_, {Og_o A{J«_ àm{ßV`m± em{_b h|\nPremium received from policyholders, including advance receipts 42904655.44 40677459.86\nAÝ` àm{ßV`m±\nOther receipts 92971.63 259046.00\nnwZ… ~r_mH$Vm©Am| Hmo ^wJVmZ, H _reZ Ed§ Xmdm|/bm^ go ewÜX\nPayments to the reinsurers, net of commission and claims / benefit Xmdm|/bm^m| Hm ^wJVmZ\nPayments of claims/benefits (35855746.28) (29182121.42)\nH{_eZ Am¡a Xbmbr Hm ^wJVmZ\nPayments of commission and brokerage AÝ` n{aMmbZ ì``m| Hm ^wJVmZ\nPayments of other operating expenses O_m, A{J«_ Am¡a ñQm\\ FU\nDeposits, advances and staff loans Am`Ha Hm ^wJVmZ (ewÜX)\nIncome taxes paid (Net) godmHa/OrgQr Hm ^wJVmZ\nService tax/ GST paid AgmYmaU _Xm| go nwd© ZHX àdmh\nCash flows before extraordinary items AgmYmaU g§MmbZ go ZHX àdmh ({ddaU Xo)\nCash flow from extraordinary operations (give break-up) 0.00 0.00\nn{aMmbZ J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from operating activities: {Zdoe J{V{d{Y`m| go ZH X àdmh:\nCash flows from investing activities:\nAMb g§n{ËV`m| Hr IarX\nPurchase of fixed assets AMb g§n{ËV`m| Hr {~H«r go àm{ßV`m±\nProceeds from sale of fixed assets {Zdem| Hr IarX\nPurchases of investments (42778114.95) (49955544.84)\n{dV{aV FU (^wJVmZ go ewÜX)\nLoans disbursed (Net of Repayments) (273393.80) (241279.23)\n(378253.58) 8060203.82\n(378253.58) 8060203.82\n(71693.87) (107606.55)\n62028.51 723899.30\n(97125.99) 11848912.38\nJeeR\nJeeef<e&keÀ efjHeesì&\n65 Annual Report\nth\n1209879.77 14879231.11\n0.00 (25612546.75)\n43210.63 (34554.02)\n874836.82 (2707665.84)\n3611767.85 6319433.69\n4486604.67 3611767.85\n{Zdem| Hr {~H«r\nSales of investments 19038811.20 27480732.25\n{Ham`m/ã`mO/bm^m§e àmßV\nRents/Interests/ Dividends received 25055974.87 24888838.57\n{Zdoe J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from investing activities {dËVr` J{V{d{Y`m| go ZH X àdmh:\nCash flows from financing activities:\nHO© Hm ^wJVmZ\nRepayments of borrowing 0.00 (25340993.31)\nã`mO/bm^m§e Hm ^wJVmZ\nInterest/dividends paid 0.00 (271553.44)\n{dËVr` J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from financing activities ZHX Am¡a ZHX Ho g_Vwë` ewÜX na {dXoer _wÐm Xam| Hm à^md\nEffect of foreign exchange rates on cash and cash equivalents, net ZHX Am¡a ZHX Ho g_Vwë` _| {Zdb d¥{ÜX\nNet Increase in cash & cash equivalents df© Ho àm§a^ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the beginning of the year df© Ho AV§ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the end of the year ZmoQ>: Ad{Y Ho$ A§V _| ZH$X Am¡a ZH$X g_Vwë` Ho$ KQ>H$\nNote: Components of Cash and Cash Equivalent at the end of the period\nhmW _| ZH$X Am¡a MoH$\nCash and cheques in hand ~¢H$ O_m\nBank Balances 2080179.57 1797798.10\ngmd{Y O_m\nFixed Deposits 803338.55 746091.58\n_wÐm ~mµOma {dboI\nMoney Market Instruments 1157874.38 694010.69\n_mJ© àmofñV YZ Am¡a AÝ`\nRemittance in Transit and others Hw$b ZH$X Am¡a ZH$X g_Vwë`\nTotal Cash and Cash Equivalents nceejer Gme leejerKe Jeeueer efjHeesì& kesÀ Devegmeej\nAs per our report of even date\nyeeìueeryee@³e Sb[ Hegjesefnle kesÀ efueS meveoer uesKeeJeÀej\nFor Batliboi & Purohit\nChartered Accountants\n(FRN: 101048W)\nyees[& JeÀer Deesj mes\nOn behalf of the Board\nAܶj\nChairperson\nmJeleb$e efveosMeJeÀ\nIndependent Director\njceve nbieskeÀj (Heeì&vej)\nRaman Hangekar (Partner)\nme. ¬eÀ. 030615\n{Z¶wº$ ~r‘m§H$H$\nAppointed Actuary\ncegbcyeF& ë 30 ceF&, 2022\nMumbai: 30th May, 2022\n399522.27 337249.76\n45689.90 36617.72\n4486604.67 3611767.85\nkeÀe³e&keÀejer efveosMekeÀ ({dÎm Ed§ boIm)\nExective Directors (F&A)\nà~§Y {ZXoeH$\nManaging Director\ncegK³e efJeÊeer³e DeefOeJeÀejer\nChief Financial Officer\nJebÀHeveer meef®eJe\nCompany Secretary\n579\nJeeR\nJeeef<e&keÀ efjHeesì&\n65 Annual Report\nth\nAZwgyMr - 1 SCHEDULE - 1 àr{_`_ A{O©V ({Zdb)\nPREMIUM EARNED (NET)\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCurrent Year\n{nNbm df©\nPrevious Year\n1 àW‘ dfu¶ àr{‘¶‘\nFirst year Premiums 3687852.36 3434099.52\n2 nadVu àr{‘¶‘\nRenewal Premiums 23042499.04 22032758.63\n3 EH$b àr{‘¶‘ Am¡a grEOr\nSingle Premiums & CAG 16281329.32 15118222.00\nHw$b àr{‘¶‘\nTOTAL PREMIUM 43011680.72 40585080.15\nàr{‘¶‘ Am¶ {b{IV ì¶dgm¶ go\nPremium Income from business written:\n1 ^maV ‘|\n2 ^maV Ho$ ~mha\nHw$b àr{‘¶‘\n------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- -------------------------------\nIn India 42760777.87 40288813.57\nOutside India 250902.85 296266.58\nTotal Premium 43011680.72 40585080.15",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_company_type",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned. It is not necessary to provide a legal form as I did not find a legal form during labeling.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_key_financials",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "EPS basics: 6.39, EPS diluted: 6.39",
      "golden_context": "Page 347:\n\nÌ H$mo AJ«o{fV bm^\nProfit carried forward to the Balance Sheet 401433.30 -\n*à{V eo`a CnmO©Z - _yb (₹) AZwgyMr 15E H$r {Q>ßnUr (gr) 24 XoI|\n*Earning per Share- Basics (₹ ) refer Note (C) 24 of Schedule 15A *à{V eo`a CnmO©Z - Ý`yZrH¥$V (₹) AZwgyMr 15E H$r {Q>ßnUr (gr) 33 XoI|\n*Earning per Share- Diluted (₹ ) refer Note (C) 24 of Schedule 15A eo`a H$m A§{H$V _yë` (₹)\n6.39 4.59\n6.39 4.59\nNominal Value of Share (₹ ) 10.00 10.00\nnceejer Gme leejerKe Jeeueer efjHeesì& kesÀ Devegmeej\nAs per our report of even date\nDeej. peer. Sve. He´eF&me Sb[ kebÀ. kesÀ efueS\nFor R. G. N. Price & Co.\nChartered Accountants\nF.R.N.: 002785S\nS. Deej. HeeLe&meejLeer (Heeì&vej)\nA. R. Parthasarathy (Partner)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_revenue",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total income: 7,21,102.57",
      "golden_context": "Page 5: \n\n\n1,74,152\nLives\n7,86,69,269\nBUSINESS\nIN FORCE\nAchievement from 01.04.2021 to 31.03.2022:\nVolume\n36,270\nNo. of Schemes\nMarket Share\n89.07%\nNo. of Schemes\n319.30 Lakh\nNo. of Lives\nPENSION\nAND GROUP\nBUSINESS\nConventional\nBusiness\n14.80%\nMarket Share\n1,43,\n1,938.59 Cr\nNew Business Premium\nIncome\n76.16%\nMarket Share\nS.A\n(In crore)\n22,76,341.63\nFund Size\n(In crore)\n8,52,227.10\nTotal\nPremium\nIncome\n(in Crore)\nTotal\nPolicy\nBenefits Paid\n(In Crore)\n1,50,795.97\n1,16,061.80\nLIC\nTHE NINE OF IN SANGE\nLIC PROFILE\n2021-2022\n\n\nTotal Number of\nClaims Settled\n267.23 lacs\nTotal Amount of 192568.54 Crs.\nClaims Paid\nCLAIM SETTLEMENT\nPERFORMANCE 2021-22\n(Individual Claims Only with 10 & MICRO)\nPercentage of Maturity\nClaims Paid\nPercentage of Death\nClaims Paid\n90.99\n98.76\nTotal Income\n7,21,102.57\nOTHER PERFORMANCE\nPARAMETERS\n(Rs.in Crs) F.Y.2021-22\nTotal Assets\n42,30,616.95\nTotal Premium Income\n4,27,419.22\nTotal Life Fund\n37,35,759.72\nPayment\nto Policyholders\n3,57,464.90\nPRODUCT DEVELOPMENT\nAt the end of the financial year 2021-22,\nwe have 33 plans for sale under Individual\nBusiness. The products satisty the different\nneeds of various segments of the society.\nThe various categories being Endowment,\nTerm Assurance, Children, Pension, Micro\nInsurance, Health Insurance, Unit linked\ntype plans etc\nLIC\nWENNSUEANCE COMAOSATION CY INETE\nLIC PROFILE\n2021-2022\n\n\nL89\nLZ9\n8L9\n098\nр Від Меню\n828\n808\nKh nk ce nha binnh mae kee\n90L\n86\n29\nTalà 2Le\n9L\n1A BIE\n6\nВірнІє\n-à bap-\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n515) tn Annual Repori\n553\n570\n573\n576\n578\n580\n5\n\n\n55.. Annual Report\n@ LIC\nHE IS URANCE CORPORATION OF MOLL\n-INDEX -\nCorporate Overview\nLIC at a glance\nCorporate Chronicle\nChairperson's Message\nStatutory Reports\nManagement Discussion and Analysis\nDirectors' Report\n• Corporate Governance Report\n• Secretarial Audit Report\n• Business Responsibility & Sustainability Report\nFINANCIAL STATEMENTS\n• Standalone:\n* Independent auditors Report and certificate\nBalance sheet\n/ Revenue Account\nv Profit & Loss Account\n* Schedule 1 to 15, 15A, B, C\n(Annexure -1 - Segmental balance sheet and Revenue Account)\nReceipts & Payments Account\nFinancials of CRAC Business\nManagement Report\n155\n159\n163\n203\n215\n246\n254\n303\n328\n335\n344\n350\n518\n521\n537\n6\n\n\nA LIC\nTE INSURANCE CORPORATION OF THOU\n• Consolidated:\nIndependent Auditor's Report\nBalance Sheet\nRevenue Account\nProfit and Loss Account\nReceipts & Payments Account\nSchedules 1 to 15, 15A, B, C\nSignificant Accounting Policies and Notes\nADDITIONAL INFORMATION\nEmbedded Value Report\nGlossary of Terms\na15)tn Annual Repori\n553\n570\n573\n576\n578\n580\n720\n728\n\n\n65 in Annual Report\n* LIC\nHE IS URANCE CORPORATION OF MOL\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n65 ch Annual Repor\n98\n96\n965\n•\n1979\nден ДВе щ зі НЕ •\n\n\nOT\n•\n•\n•\n• TOOZ\n666T\n•\nL66T\n966T\n966T\n• +66T\n•\n866T\n•\n686T\n886T\n•\n986T\n\n\nII\nHẠNH Ke Lat Tn•\nbl l.\nTàn l sC Tnh LaSIE •\nh b b Tôn Ci •\nt fab fle tie\nHoda lenuuy \"C9\n\n\nozoZ\n6TOZ\n810Z\n•\n•\nLTOZ\nHodad lenuuy 4@\n\n\nL9 0062\n98t+820t\nL8016681\n86 886292\n180814\n29L8999\n(4 22 2)\n88 862091\nt80299L2\n09696+9\n22-1207 be 2pJ\nGh MAN HE L CHI CH Tallah DIEL\nBANE KKI\n(A\n\n\n5)5)tn Annual Report\n35572\n4084832.7\n541492\n98.74%\n14\n* LIC\nHE IS URANCE CORPORATION OF MOL\n31523\n3676178.8\n95605\n98.62%\n\n\n© LIC\nTE INSURANCE CORPORATION OF THOU\n55ih Annual Repor\n15\n\n\n16\nB C T C\nh t Ch t C C TC T\nM M C C T B tN C C CCT MG\nC CY C CHAN, C CE C TC CA T C CA CN MA\nf t C B d l ts t\nt tee taii Ci t M C, 1\nMC T MA T MC CM T,H , M, M\nV LIC\nAHE MAS URANCE CORPORATION OF TMOE\n55 ch Annual Report\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n1.\n2.\n3.\n4.\n5.\n6.\n2017-18\n2018-19 (3d 311RS)\n2019-20 (2nd 37R$)\n2020-21(1st 37R$)\n2021-22 (413)\n2020-21a\n2019-20#\n2018-19*\n2017-18\n22.17%\n19.57%\n20.34%\n19.29%\n2021-22\n2020-21\n2019-20\n2018-19\n2017-18\n13.3 (31<≤)\n7.2\n5.8\n5.8\n65 ch Annual Repor\n6.8\n6.5\n3.7\n(-) 6.6\n8.7\n28.24 %\n29.87 %\n31.75 %\n32.07%\n2018-19\n11.0\n1.4\n4.2\n0.4\n1.1\n1.9\n2.1\n4.1\n7.1\n2019-20\n11.0\n1.4\n4.2\n0.4\n1.3\n1.5\n2.2\n3.2\n7.8\n6.9 (37R≤)\n9.2 (978)\n4.6\n3.4\n3.5\n17\n\n\n65mh Annual Repor\n@ LIC\nSHE INSURANCE CORPORATION OF MOT\n42,00668\n18\n\n\nSllte\nnon-lite\n-#total\n19\n2001-02\n2002-03\n2003-04|\n2005-06\n2006-07\n2007-08\n2008-09\n2009-10\n2010-11\n2011-12\n2012-13\n2013-14\n2014-15\n2015-16\n2016-17\n2017-18\n2018-19\n2019-20\n2020-21\nInsurance Penetration in India\n4.4 .20\nN 17.464.75\nAE INSURANCE CORP ORATION OF THOM\nG LIC\n55 ch Annual Repor\n\n\n@ LIC\n55 in Annual Report\nInsurance Density in India\n100\n60\n20\n10209\n-Life\n3333\nD\nM (!!\nще\n20\n\n\n21\nl t t ể C DTT TIR, CO 1S MN\nCỬ C CR\nTE\nB t t m c tnn t tn t t t, t, t h t t t\ncn T CI C C CA\n•Oth Annual Repol\n© LIC\nAE INSURANCE CORP ORATION OF THOM\n\n\n05ih Annual Report\nc518\n54965\n1.\n2\n3\n4.\n5.\n6.\n7.\n8\n31.03.2021\n46,449\n11,045\n24,42,607\n3,54,855\n52.49,271\n14,24,551\n4,58,614\n3,77,398\n22\n& LIC\nHE IS URANCE CORPORATION OF MOL\n31.03.2020\n38,585\n11,080\n24,55,042\n3,18,043\n46.56,346\n11,25,528\n4,51,475\n3,50,038\n20.38\n-0.32\n-0.51\n11.57\n12.73\n26.57\n1.58\n7.82\n\n\nTE INSURANCE CORPORATION OF THOU\n05th Annual Repor\nC48,6 ,404.08\n23\n\n\n5)55 th Annual Repor\nĐ LIC\nAHE MAS URANCE CORPORATION OF TMOE\n171.08\n2.64\n35.34\n0.16\n7.96\n217.18\n44,545.63\n1,599.37\n8,208.48\n200.11\n267.68\n54,821.27\ntalbe b d en\nđt c h hh c dấ c t th tit\n191810\nt t t t t t t h tC t Ti M N\n24\n\n\n* LIC\nSE INSURANCE CORPORATION OF THOU\n59,79,505\n27.53%\n1,403\n15,102.26\n27.61%\n3.54\n36,298 ₴ |\n65h Annual Repor\n5,79,962\n2.67%\n1226\n1,714.63\n3.14%\n3.63\n25\n\n\n55)in Annual Report\n11,40,540 ₴П1\ngoal\n2021-22\n371\n1,582\n42,614\n33,328\n52,021\n36,672\n15,340\n1,81,928\n26\n2020-21\n331\n1,484\n42,444\n33,362\n53,688\n40,377-\n16,678\n1,88,364\n& LIC\nHE IS URANCE CORPORATION OF TMOT\n1,53,808 1 др Б\n2019-20\n287\n1,124\n40,932\n32,363\n54,358\n42,524\n16,335\n1,87,923\n\n\n© LIC\nTE INSURANCE CORPORATION OF THOU\n55 ch Annual Repor\n27\n\n\n55 kh Annual Repor\n2019-20\n2020-21\n2021-22\n206.66\n222.76\n256.47\n1,42,350.76\n1,61,031.20\n2,02,083.84\n3, 33737\n28\n87.66\n89.83\n91.09\n9.32\n11.47\n15.72\n17,419.57\n24,195.01\n36,597.52\n& LIC\nSHE INSURANCE CORPORATION OF MOT\n95.44\n98.27\n98.50\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n.19\n6655 Anu Report\n4.49\n29\n\n\n•\n•\n30\n55 r Annual Report\n.03.022\n2.93\n855\n@ LIC\nHE IS URANCE CORPORATION OF TMOT\n33.51\n\n\n31\nв!\n006't\nthe be t toe le bot lee Want ta tall Joe\nLIC\nTE INSURANCE CORPORATION OF THOU\n\n\n0) 5th Annual Repor\n1,14,444\n17,459\n973\n22\n1,32,898\n9.\n32\n1,14,444\n17,459\n973\n22\n1,32,898\n0\n0\n* LIC\nHE IS URANCE CORPORATION OF MOL\n1,11,492\n16,963\n958\n22\n1.29.435\n97.42%\n97.16%\n98.46%\n100%\n97.39%\n\n\n33\nCI t C M C C CI C, T C TI T T TN\nCIN CE\nM CHDA ME!\nC ĐấtD Ch T C C C S C S T, C C\nMee Te Ta lE taTW Code t C CE C T MRT\nLIC\nPHE INSURANCE CORPORATION OF THOT\n\n\nTIN\nTIN\nGHE ThE\nTIN\nTIN\nTIN\nTIN\nLette tak\n822\n292\nLDE\n262\n29t\nÇ82\n619\n09T\n80T\nVLI\n96\nTIN\nTa Sie Ca\nL86'T\n6Lt2\n18L2\n182'7\nBLtZ\nSZV7\n272'2\n616'T\nELV'I\n286\nt68\n6\nDE\nLIS'TI\n909'9T\nt2t'9I\n999'vL\n9ES E\nOSE'ZI\nSSS'6\nL68'9\nSSS't\n919'2\nL8T\nEpIK\n22-I202\nIZ-O202\n0Z-6102\n61-8102\n8L-LTOZ\nLI-9TOZ\n9T-9TOZ\nSI-+TOZ\ntI-ETOZ\nET-ZLOZ\nZI-LLOZ\nIL-OLOZ\nO1-6002\n60-8002\n80-L002\nL0-9002\n90-gooz\nTell Tell PleasiK\n\n\n« LIC\nTE INSURANCE CORPORATION OF THOU\n1,08,987 2|\n05ch Annual Repor\n31,074\n20,560\n52,402\n1,04,036\n7,191\n1,191\n15,712\n24,074\n35\n\n\n5)5)tn Annual Report\n« LIC\nSHE INSURANCE CORPORATION OF MOT\n•\n•\n36\n\n\n* LIC\nSE INSURANCE CORPORATION OF THOU\nна На Н\nJth Annual Repor\n2020-21\n8, 423\n43,235\n9,711\n3, 584\n394\n48\n679\n66,074\n8, 218\n2021-22\n3, 779\n63, 111\n31, 564\n2. 339\n395\n232\n1.095\n1, 02, 515\n22, 932\n\n\n0) 5in Annual Repor\nV LIC\nHE MASURANCE CORPORATION OF IMEL\nC C B C T\n58,756 (56.45%)\n31.03.2021 аФ\n24,967\n2, 14,491\n2, 39,458\n80,180\n7,05,728\n7, 85,908\n31.3.2022 7Ф\n1,05,147\n9, 20,219\n10, 25,366\n333373\nbek\nt te TTe Me\n38\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n•Oth Annual Repor\n:\ni)\nii)\niv)\n16. 77/71.f:\ni)\nii)\nfi)\niv)\ni)\niv)\nv)\n39\n\n\nOt\nM DWE K LE\n5573\n(!n\n\n\nIt\nC L ThE CaLLER\nI SS T T AT 172337\n\n\n65ch Annual Repor\n@ LIC\nHE IS URANCE CORPORATION OF TMOT\n7357\n42\n\n\nhe male m\nTE INSURANCE CORPORATION OF THOU\ntic\n3174\n43\n\n\nlet look\nTo let\n•\n•\n\n\n© LIC\nTE INSURANCE CORPORATION OF THOU\n65ih Annual Report\nIntegrity Pact\n3777357\n22. IPO:\n314, 202 +28,85,569.04\n45\n\n\n46\nbojlk\n(13I31E\nblojlale\nM CE HUREL SalabRe SAIR\nce t C Th C T Ử TN CO\nD LIC\nHE MAS URA NCE CORPORATION OF TMOL\na) 5in Annual Repor\n\n\nL$\nt ti to c\n(ii)\nC T CEE GR MINNEY\nTb\nщщ thCh h b con l mee ni!\nte t c e t w ti!\nChh C tg t tt de le te ta\nC C h C T C M H\n1g gl tạạк hạjin bạh\nAE INSURANCE CORPORATION OF TNOM\nĐ LIC\n\n\n55)in Annual Report\n@ LIC\nHE IS URANCE CORPORATION OF TMOT\n5)\n48\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n55th Annual Repor\n49\n\n\n•\n50\n55th Annual Repor\n13. 251, 120\n19,953.02\n+ 8%\n+0.53%\n- 16%\n& LIC\nSHE INSURANCE CORPORATION OF MOT\nCAGR 5 HIC\n11%\n7%\n4%\n22,832.77\n425%\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\nя.\ni)\nii)\niii)\niv)\nv)\ni)\nii)\niii)\niv)\nv)\nvi)\nvii)\n5th Annual Repol\n36.3989\n32.3897\n30.2792\n23.9937\n18.5570\n9.66%\n9.64%\n10.12%\n9.75%\n9.48%\n28.9780\n22.5008\n23.6743\n24.2270\n21.3980\n24.0289\n15.0663\n10.9396\n13.02%\n9.78%\n10.42%\n10.79%\n9.21%\n10.68%\n7.79%\n5.68%\n51\n\n\n65 ch Annual Repor\n« LIC\nSHE INSURANCE CORPORATION OF MOT\n3 373 1328\nФ\n•\n20522)\n52\n\n\nLIC\nTE INSURANCE CORPORATION OF THOU\n•Oth Annual Repor\nLEAH 1KE -\n24|h212 -\n2,33,134",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_revenue_growth",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "premiums: 42741921.21, prior year: 40284434.43",
      "golden_context": "Page 337:\n\n$m°‘© E-AmaE FORM A - RA\n~r‘mH$Vm© H$m Zm‘ … ^maVr¶ OrdZ ~r‘m {ZJ‘ Name of the Insurer: Life Insurance Corporation of India\nn§OrH$aU H$s g§»¶m 512 VWm VmarI … 01.01.2001 Registration No. 512 Dated: 01.01.2001\n31 ‘mM©, 2022 H$mo g‘má df© Ho$ {bE ñQ¢>S>AbmoZ amOñd ImVm\nnm°{bgrYmaH$m| H$m ImVm (VH$ZrH$r ImVm)\nSTANDALONE REVENUE ACCOUNT FOR YEAR ENDED MARCH 31, 2022\nPolicyholders' Account (Technical Account)\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nAZwgy{M\nSchedule\n31 ‘mM©, 2022 H$mo\ng‘má df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2022\n31 ‘mM©, 2021 H$mo\ng‘má df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2021\nA{O©V ewÕ àr{‘¶‘ / Premiums earned - net\n(H$) {à{‘¶‘\n(a) Premium 1 42802497.15 40328655.48\n(I) nwZ~u‘m A§VaU\n(b) Reinsurance ceded (60575.94) (44221.05)\n(J) nwZ~u‘m ñdrH$ma\n(c) Reinsurance accepted - -\nCn-¶moJ / Sub-Total 42741921.21 40284434.43\n{Zdoe go Am¶ / Income from Investments\n(H$) ã¶mO, bm^m§e Ed§ {H$am¶m, Hw$b\n(a) Interest, Dividends & Rent - Gross 25260799.36 23446140.73\n(I) {Zdoe Hr {~H«$s / ‘moMZ na bm^\n(b) Profit on sale/redemption of investments 4977679.23 4453482.77\n(J) ({Zdoe Hr {dH«$s / ‘moMZ na hm{Z)\n(c) (Loss on sale/redemption of investments) (937690.65) (630607.47)\n(K) nwZ‘y©ë¶mH§$Z/ghr ‘yë¶ n[adV©Z na A§VaU/bm^*\n(d) Transfer/Gain on revaluation/change in fair value* (11342.60) 607098.45\n(L>) Aݶ Am¶\n(e) Other Income\n(i) dmng {bIr JB© am{e¶m± Amounts written back 695.87 664.97\n(ii) ‹\n{d{dY àm{á¶m± Sundry Receipts 77252.04 58809.55\nA§eYmaH$m| Ho$ ImVo go AÝ` Ho$ {bE ¶moJXmZ\nContribution from Shareholders' Account towards others 942.45 475.97\nHw$b (H$)/ TOTAL (A) 72110256.91 68220499.40\nH$‘reZ / Commission 2 2317145.53 2216991.70\n~r‘m ì¶dgm¶ go g§~§{YV n[aMmbZ IM©\nOperating Expenses related to Insurance Business 3 3889067.80 3498444.08\n{Z{Y n«~§YZ n«^ma Ed§ AÝ` n«^ma na dñVw Ed§ godm H$a\nGST on Fund Management charges & other charges 9076.44 9322.22\ng§{X½Y F$Umo§ Ho$ {bE n«mdYmZ\nProvisions for Doubtful debts (129895.22) 895853.09\nH$amYmZ Ho$ {bE n«mdYmZ\nProvisions for taxation 787862.94 798776.03\nn«mdYmZ (H$amYmZ Ho$ A{V{aŠV)\nProvisions (other than taxation)\n335\nJeeR\nJeeef<e&keÀ efjHeesì&\n65 Annual Report\nth\n{ddaU\nParticulars\nAZwgy{M\nSchedule\n31 ‘mM©, 2022 H$mo\ng‘má df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2022\n31 ‘mM©, 2021 H$mo\ng‘má df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000451_segments",
      "report_id": "ID_000451",
      "company_name": "Life Insurance Corporation of India",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Participating Life Individual, Participating Pension Individual, Participating Annuity Individual, Non\nParticipating Life (Individual & Group), Non Participating Pension (Individual & Group), Non Participating Annuity\nIndividual, Non Participating Variable individual, Non Participating Health individual, Non Participating Unit\nLinked",
      "golden_context": "Page 391:\n\nntal Reporting:\na) Identification of Segments:\nBased on the primary segments identified under IRDA (preparation of Financial statements and auditors’ report\nof insurance Companies) regulations 2002 (‘the regulations’) read with Accounting Standard 17 on “segmental\nreporting” notified under section 133 of the Companies act 2013 and rules there under, the Corporation has\nclassified and disclosed segmental information separately for shareholders and policyholders. Accordingly the\nCorporation has prepared the Revenue Account and the Balance Sheet for the primary business segments\nnamely Participating Life Individual, Participating Pension Individual, Participating Annuity Individual, Non\nParticipating Life (Individual & Group), Non Participating Pension (Individual & Group), Non Participating Annuity\nIndividual, Non Participating Variable individual, Non Participating Health individual, Non Participating Unit\nLinked. The Corporation operates in various geographical segments.\nb) Basis of allocation of expenditure to various segments of business:\nOperating Expenses relating to life insurance business are allocated to Non-Linked Participating, Non-Linked Non-\nParticipating, General Annuities, Pensions, Health, Group Business and Unit Linked Business on the basis of:\na. Expenses which are directly identifiable to the respective lines of business have been allocated to these\nlines of business on actual basis, and\nb. Other expenses which are not directly identifiable to the respective lines of business are allocated out of\nthe common pool on the following basis or a combination of these:\ni. Number of policies\nii. T otal premium income\niii. Sum assured\nAllocation of common expenses among various lines of business is based on the approved expense policy\nof the Corporation.\n21.\nLeases:\na) Operating Lease: Leases where the lessor effectively retains substantially all the risks and benefits of ownership\nover the lease term are classified as operating lease. Operating lease rentals are recognized as an expense over\nthe lease period on a straight-line basis.\nWhere the Corporation is the lessor, Assets subject to operating leases are included in fixed assets. Lease\nincome is recognized in the Revenue/Profit and Loss Account on a straight-line basis over the lease term. Costs,\nincluding depreciation are recognised as expenses in the Revenue/ Profit and Loss Account.\nb) Finance Lease: Leases under which the Corporation assumes substantially all the risks and the rewards of\nownership of the asset are classified as finance lease. Such leased asset acquired are capitalised at fair value of\nthe asset or present value of the minimum lease rental payment at the inception of the lease, whichever is lower.\n22. Funds for future appropriations:\nFor Non- linked Participating business, the balance in the funds for future appropriations account represents funds,\nthe allocation of which, either to participating ‘Policy Holders’ or to ‘Shareholders’, has not been determined at\nthe Balance Sheet date. Transfers to and from the fund reflect the excess or deficit of income over expenses and\nappropriations in each accounting period arising in the Corporation’s ‘Policy holders’ fund. In respect of participating\npolicies any allocation to the policyholder wou",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_cash_flow",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 54,51,850.70, investing: -54,47,152.69, financing: -94,859.1 (in lakhs)",
      "golden_context": "Page 587:\n\n~r‘mH$Vm© H$m Zm‘ … ^maVr¶ OrdZ ~r‘m {ZJ‘ n§OrH$aU H$s g§»¶m 512 VWm VmarI … 01.01.2001 Name of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\n31 _mM©, 2023 H$mo g_má df© Ho$ {bE ^maVr` OrdZ ~r_m {ZJ_ H$m g_o{H$V ZH$X àdmh {ddaU\nCONSOLIDATED CASH FLOW STATEMENT OF LICI FOR THE YEAR ENDED MARCH 31, 2023\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\nn{aMmbZ J{V{d{Y`m| go ZH X àdmh:\nCash Flows from the operating activities:\nnm°{bgrYmaHm| go àmßV àr{_`_, {Og_o A{J«_ àm{ßV`m± em{_b h|\nPremium received from policyholders, including advance receipts 4,75,71,130.78 4,29,04,655.44\nAÝ` àm{ßV`m±\nOther receipts 7,79,950.73 92,971.63\nnwZ… ~r_mH$Vm©Am| Hmo ^wJVmZ, H _reZ Ed§ Xmdm|/bm^ go ewÜX\nPayments to the reinsurers, net of commission and claims / benefit (3,83,976.25) 29,821.43\nXmdm|/bm^m| Hm ^wJVmZ\nPayments of claims/benefits (3,50,47,852.69) (3,58,55,746.28)\nH$_reZ Am¡a Xbmbr Hm ^wJVmZ\nPayments of commission and brokerage (25,26,102.03) (23,30,631.04)\nAÝ` n{aMmbZ ì``m| Hm ^wJVmZ\nPayments of other operating expenses (52,96,664.27) (42,79,890.80)\nO_m, A{J«_ Am¡a ñQm\\ FU\nDeposits, advances and staff loans 17,038.44 71,392.74\nAm`Ha Hm {a\\§S /(^wJVmZ)\nNet Income taxes refund /(paid) 5,82,531.41 (7,37,432.84)\ngodmHa/OrgQr Hm ^wJVmZ\nService tax/ GST paid (2,44,205.42) (2,73,393.86)\nAgmYmaU _Xm| go nyd© ZHX àdmh\nCash flows before extraordinary items 54,51,850.70 (3,78,253.58)\nAgmYmaU g§MmbZ go ZHX àdmh ({ddaU Xo)\nCash flow from extraordinary operations (give break-up) 0.00 0.00\nn{aMmbZ J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from operating activities: {Zdoe J{V{d{Y`m| go ZH X àdmh:\nCash flows from investing activities:\nAMb g§n{ËV`m| Hr IarX\nPurchase of fixed assets (88,647.03) (71,693.87)\nAMb g§n{ËV`m| Hr {~H«r go àm{ßV`m±\nProceeds from sale of fixed assets 34,436.27 62,028.51\n{Zdem| Hr IarX\nPurchases of investments (5,43,73,937.50) (4,27,78,114.95)\n{dV{aV FU (^wJVmZ go ewÜX)\nLoans disbursed (Net of Repayments) (4,02,958.21) (97,125.99)\n{Zdem| Hr {~H«r\nSales of investments 2,24,90,806.24 1,90,38,811.20\n{Ham`m/ã`mO/bm^m§e àmßV\nRents/Interests/ Dividends received 2,68,93,147.54 2,50,55,974.87\n{Zdoe J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from investing activities 54,51,850.70 (3,78,253.58)\n(54,47,152.69) 12,09,879.77\n585\nR\n66th\nJee\nJeeef<e&keÀ efjHeesì& 2022-23\nAnnual Report 2022-23\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\n1,62,370.26 43,210.63\n72,209.17 8,74,836.82\n44,86,604.67 36,11,767.85\n45,58,813.84 44,86,604.67\n3,96,089.07 3,99,522.27\n19,23,664.31 20,80,179.57\n7,75,987.99 8,03,338.55\n14,60,557.86 11,57,874.38\n2,514.61 45,689.90\n45,58,813.84 44,86,604.67\n{dËVr` J{V{d{Y`m| go ZH X àdmh:\nCash flows from financing activities:\nHO© Hm ^wJVmZ\nRepayments of borrowing 0.00 0.00\nã`mO/bm^m§e Hm ^wJVmZ\nInterest/dividends paid (94,859.10) 0.00\n{dËVr` J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from financing activities (94,859.10) 0.00\nZHX Am¡a ZHX Ho g_Vwë` ewÜX na {dXoer _wÐm Xam| Hm à^md\nEffect of foreign exchange rates on cash and cash equivalents, net ZHX Am¡a ZHX Ho g_Vwë` _| {Zdb d¥{ÜX\nNet Increase in cash and cash equivalents df© Ho àm§a^ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the beginning of the year df© Ho AV§ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the end of the year ZmoQ>: Ad{Y Ho$ A§V _| ZH$X Am¡a ZH$X g_Vwë` Ho$ KQ>H$\nNote: Components of Cash and Cash Equivalent at the end of the period\nhmW _| ZH$X Am¡a MoH$ /Cash and cheques in hand ~¢H$ O_m* /Bank Balances* gmd{Y O_m/ Fixed Deposits _wÐm ~mµOma {dboI / Money Market Instruments _mJ© àmofñV YZ Am¡a AÝ` / Remittance in Transit and others Hw$b ZH$X Am¡a ZH$X g_Vwë` / Total Cash and Cash Equivalents *Bank Balances includes Unclaimed Dividend of ₹15.86 Lakhs\nThe above Receipts and Payments Account has been prepared as prescribed by Insurance Regulatory and Development Authority (Preparation\nof financial statements and auditor's report of insurance companies) Regulations, 2002 under the Direct method in accordance with Accounting\nStandard 3 Cash Flow Statements.\n* yeQkeÀ yewueWme ceW ©he³es 15.86 ueeKe keÀe DemJeeefcekeÀ ueeYeebMe Meeefceue nw~\nGhejesÊeÀ he´eeqhle³eeb Deewj Yegieleeve Keelee yeercee efve³eecekeÀ Deewj efJekeÀeme he´eefOekeÀjCe (efJeÊeer³e efJeJejCeeW keÀer lew³eejer Deewj yeercee kebÀheefve³eeW keÀer uesKeehejer#ekeÀeW keÀer efjheesì&) efJeefve³ece, 2002 Üeje uesKeebkeÀve ceevekeÀ 3\nvekeÀoer he´Jeen efJeJejCe kesÀ Devegmeej he´l³e#e he×efle kesÀ lenle lew³eej efkeÀ³ee ie³ee nw~\nnceejer Gme leejerKe Jeeueer efjHeesì& kesÀ Devegmeej\nAs per our report of even date\nefveosMeJeÀ ceb[ue JeÀer Deesj mes\nOn behalf of the Board\nyeeìueeryee@³e Sb[ hegjesefnle kesÀ efueS\nFor Batliboi & Purohit\nmeveoer uesKeekeÀej\nChartered Accountants\n(FRN: 101048W)\nefme×eLe& ceesnbleer\nSiddhartha Mohanty\nDeO³e#e\nChairperson\n(DIN: 08058830)\nhejeie nbieskeÀj (Heeì&vej)\nParag Hangekar (Partner)\nM.No. 110096\nefceveer DeeF&he\nhe´yebOe efveosMekeÀ\nMini Ipe\nManaging Director\n(DIN: 07791184)\nheJeve Deie´Jeeue\nkebÀheveer meef®eJe\nPawan Agrawal\nCompany Secretary\nSce. heer. efJepe³e kegÀceej\nM.P. Vijay Kumar\nmJeleb$e efveosMekeÀ\nIndependent Director\n(DIN: 05170323)\nefovesMe heble\nefve³egÊeÀ yeerceebkeÀkeÀ\nDinesh Pant\nAppointed Actuary\nmegveerue Deie´Jeeue\ncegK³e efJeÊeer³e DeefOekeÀejer\nSunil Agrawal\nChief Financial Officer\nPlace : Mumbai\nDate: 24.05.2023\n586\nR\n66th\nJee\nJeeef<e&keÀ efjHeesì& 2022-23\nAnnual Report 2022-23\nAZwgyMr - 1 SCHEDULE - 1 àr{_`_ A{O©V ({Zdb)\nPREMIUM EARNED (NET)\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCurrent Year\n{nNbm df©\nPrevious Year\n1 àW‘ dfu¶ àr{‘¶‘\nFirst year Premiums 39,26,898.52 36,87,852.36\n2 nadVu àr{‘¶‘\nRenewal Premiums 2,43,87,042.77 2,30,42,499.04\n3 EH$b àr{‘¶‘ Am¡a grEOr\nSingle Premiums & CAG 1,93,49,337.87 1,62,81,329.32\nHw$b àr{‘¶‘\nTOTAL PREMIUM 4,76,63,279.16 4,30,11,680.72\nàr{‘¶‘ Am¶ {b{IV ì¶dgm¶ go\nPremium Income from business written:\n1 ^maV ‘|\n2 ^maV Ho$ ~mha\nHw$b àr{‘¶‘\n------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- -------------------------------",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_company_type",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned. It is not necessary to provide a legal form as I did not find a legal form during labeling.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_key_financials",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "No. of policies: 204.65 lacs , market share (policies): 71.76%, first year premium income (Rs. in Cr): 2,31,899.17",
      "golden_context": "Page 4:\n\nCollaboration\nCommitment\nDiscipline\nEmpowerment\nSensitivity\nExcellence\n\n\nLIC\n66 Annual Report 202-23\nNo. of Policies\n(in lacs)\nFirst Year Premium\nIncome (Rs. in Cr)\nNEW BUSINESS (COMPOSITE)\nDURING THE YEAR 2022-23\nMarket Share\n(Policies)\nMarket Share\n(FY Premium)\n• Excluding Business procured under Pradhan Mantri Vaya Vandana Yojana\n• Market Share as per IRDAl Statement\nPRADHAN MANTRI VAYA\nVANDANA YOJANA 2022-23\nNo. of Policies 1,26,569\nFPI (Rs. in Cr) 11,445.15\n2\nPENSION AND GROUP BUSINESS\n(Conventional Business)\n36,118\nNo. of Schemes\name\nSha\n85.29%\nNo. of Schemes\nAchievement\nfrom\n01.04.2022 to\n31.03.2023\nVolum\n366.22 Lakh\nNo. of Lives\n1,73,259.86 Cr\nNew Business Premium Income\nMark\n76.65%\nNew Business Premium Income\nTotal\nPremium\nIncome\n(in Crore)\n1,81,241.27\nTotal\nPolicy\nBenefits Paid\n(In Crore)\n1,27,169.81\nLives\n8,80,82,079\nS.A\n(Rs. in Cr)\n23,92,820.85\nSchemes\n1,77,307\nBUSINESS\nIN FORCE\nLives covered under Pradhan Mantri\nJeevan Jyoti Bima Yojana (PMJJBY) - 2,00,34,659\nFund Size\n(Rs. in Cr)\n9,97,078.35\n(S2)\nLIC\nPROFILE\n2022-2023\n\n\n66 in Annual Report 2022-23\nLIC\nLIFE INSURANCE CORPORATION OF INDIA\nPayment to\nPolicyholders\n3,42,576.75\nTotal Premium\nIncome\n4,74,004.61\nTotal Life Fund\n40,81,326.41\nTotal Income\n7,88,043.28\nPERFORMANCE\nPARAMETERS\n(Rs.in Crs) F.Y.2022-23\nTotal Assets\n45,50,571.73\nCLAIM SETTLEMENT PERFORMANCE 2022-23\n(INDIVIDUAL, IO, MICRO & P&GS)\nlotal Number of\nClaims settled\n225.51 Lacs\nClaims paid\nClaima paunt of 2,09,938.63\nCr\nPercentage of Maturity\nClaims Paid\n92.65\nPercentage of Death\nClaims Paid\n98.60\n(2)\nLIC\nPR@OFILE\n2022-2023\n3\n\n\nLIC\nLIFE INSURANCE CORPORATION OF INDIA\n66 afte Rue 2022-23\nh | Annual Report 2022-2:\nTHIS PAGE INTENTIONALLY LEFT BLANK\nTHIS PAGE INTENTIONALLY LEFT BLANK\n\n\n66g aif4a frie 2022-2\nh | Annual Report 2022-2\nLIC\nfar /Table of Contents\n6\n10\n12\n17\n55\n72\n111\n119\nCorporate Overview\n• LIC - The Journey\nFrom the Chairperson's Desk\nBoard Member's Profile\nStatutory Reports\n• Management Discussion and Analysis\nBoard's Report\nCorporate Governance Report\nSecretarial Audit Report\nBusiness Responsibility & Sustainability Report\nFiNAncIaL STATeMeNTS\n/ Summarised Results\n/ Standalone:\n• / Consolidated:\nADDITIONAL INFORMATION\nEmbedded Value Report\nGlossary of Terms\n157\n162\n164\n169\n204\n220\n259\n267\n303\n318\n559\n718\n720\n5\n\n\nLIC\n66th Anual Report 207223\n• | Annual Report 2022-23\n1956\n•\n1957\n1960\n1961\n•\n•\n•\n1962\n1963\n•\n•\n1965\n•\n•\n1970 •\n1971\n1972\n1978\n•\n1979\n1980\n•\n•\n6\n\n\n661n\n0-23\nAnnual Report 2022-23\nLEE INSURANCE CORPORATION OF INDI\n1981\n•\n•\n1982\n1986\n1987\n•\n1988\n1989\n•\n1993\n1994\n1995\n1997\n•\n•\n2000\n2001\n•\n•\n•\n•\n•\n2002 •\n2003\n•\n•\n7\n\n\n8\n+I0z\n800Z\n•\nLOOZ\nІнні 1 (кНа? доШОк шВек прІдА нва •\n• 900z\n•\nt-zzoz pla se m99\n017\n\n\n0-23\nAnnual Report 2022-23\nLIC\nLIFE INSURANCE CORPORATION OF INDI,\n2016\n2017\n2019\n2020\n2021\n9\n\n\n10\n&К IHE\nC Ch C CN CC C C TR T T\nt ba\nPBL HE\nTt t t th t th tà t t, th t, t t , t t t\njzblbltlle\nF HOC LE IBIEalE\n56 l anfites fcie 2022-23\nth | Annual Report 2022-2:\nLIC\n\n\nal Jolest\nart due le ballet\nHo Balt\n017\n\n\nmhch bichegiees\n1₴\n87-7207 Plbd Seljlle\n199\nZL\nh C Ci C\nĐ Đ0 1\nIO BE LILE\nl lb\nHb t Mobe t fibE Belala ten fe\n(C T T C CR C\nLIC\n\n\nEL\nHd bolkle fo\nIa l2 Hbln\nTễ Ch Ca PO\nT T C TÀ C Bà C:\nC TINIE\n1₴à\nlàbk lop tel\nc th h c cn t cin m\nmek t mn tnt minel ys\nIa le\nlt flalldl Lat\nWal\nue C Cn n # tlng Ke hà\nC t C m ce th\nEZ-ZZ0z Plhd Sllle\n$99\n\n\n17 18\nEz-2Z0 Plad Selle\n\n\nSL\nN C C T C L C\n(7007-7661 в на рі Н\nPHEl Le\n(77\nInte Haya By>llt\nEZ-ZZ0z Plhd Sllle\n$99\n\n\n87-7707 Plbe sallle\n$99\n9L\nHesla\nBEK ba\nВірне СВОКіВ КО\n017\n\n\nLL\nsAle (L)\n\n\nLIC\n1.\n2.\n3.\n4.\n5.\n6.\n18\nat\n2018-19\n2021-22(2H 374S)\n2022-23 (54745)\n2021-22@\n2020-21#\n2019-20*\n2018-19\nTRA GA\n19.68\n22.36\n19.13\n20.34\n2019-20\n11.7\n1.4\n4.2\n0.4\n1.3\n1.8\n2.2\n3.9\n7.9\n56 і атча чт 2022-23\nth | Annual Report 2022-2:\n6.5\n3.9\n(-) 5.8\n9.1\n7.0\n30.15\n28.82\n29.55\n31.75\n2020-21\n15.5\n6.3\n0.5\n1.6\n2.6\n2.5\n4.0\n11.5\n\n\ntệ C C CHE T T T\n08.04.2022\n04.05.2022\n08.06.2022\n05.08.2022\n30.09.2022\n07.12.2022\n08.02.2023\n4.00\n4.40\n4.90\n5.40\n5.90\n6.25\n6.50\n3.35\n3.35\n3.35\n3.35\n3.35\n3.35\n3.35\nt t T t P\nBe B HI Le\nt t t t t t t t me con\n3.75\n4.15\n4.65\n5.15\n5.65\n6.00\n6.25\nTIE NSURANCE CORPORATION OF INDIA\n4.25\n4.65\n5.15\n5.65\n6.15\n6.50\n6.75\n4.00\n4.50\n4.50\n4.50\n4.50\n4.50\n4.50\n19\n\n\n17\n661\nAnnual Report 2022-23\nC đẢấn Ch C t t t , t n T\n17,36 B g\nđộ t c t c t d thes\n20\n\n\n1Z\n1 7 9 1373 2677 732\nщ ще нр и коз 1д 1110\nTHE SURANCE CORPORATION OF INDIA\n56 214 Rч 2022-21\nth Annual Report 2022-2:\n\n\nLIC\n66 th\n1 a14 2022-23\nAnnual Report 2022-23\n\n\n56ã at 2022-2:\nth | Annual Report 2022-2:\n162.83\n3.12\n34.97\n0.13\n3.24\n204.29\nTHE SURANCE CORPORATION OF INDIA\n47,286.98\n2,019.90\n9,115.01\n75.48\n164.74\n58,662.11\n23\n\n\n017\n56a afa frie 2022-2:\nth Annual Report 2022-2\n24\n\n\n56 214 Rчl 2022-2\nh Annual Report 2022-2\nLIC\nLIFE INSURANCE CORPORATION OF INDIA\nHEYYAT 49 2022-23\n375\n1,472\n43,415\n33,949\n50,959\n35,834\n15,525\n1,81,529\n2008:\n25\n\n\nLIC\n% A2B\n76.16% 21 1\nC D (TCN NI\n26\n32,000\n36,118\n(0.42)\n112.87\n55,31,747\n7,64,097\n34,97,006\n3,40,00,000\n3,66,22,375\n14.57\n107.71\n66$| Anua Ripor 202223\n15,359.23\n2,553.01\n9,115.01\nNB (\n1,10,000.00\n1,73,259.88\n20.37\n157.51\nT (2 a 4)\n1,20,000.00\n1,81,562.51\n20.16\n151.30\n2022-23\n39,054.94\n1,92,960.65\n2,41,989.02\n4,74,004.61\n3,14,048.03\n7,88,052.64\n36,397.39\n2021-22\n36,615.35\n1,62,282.83\n2,28,521.03\n4,27,419.21\n2,93,683.36\n7,21,102.57\n4,043.12\n2022-23\n56,682.00\n43,97,204.59\n5,82,243.00\n1.87\n2021-22\n50,390.00\n40,84,600.65\n5,41,492.00\n1.85\n\n\n73573\nme te ta be to talald o\n02099\n+ C 18 088\n%L6' €\n\n\n8.\n28\n2022-23\n2021-22\n2020-21\n214.80\n256.47\n222.76\n2022-23\n2021-22\n2020-21\n10.71\n15.72\n11.47\n1,85,927.55\n2,02,083.84\n1,61,031.20\n24,006.09\n36,597.52\n24,195.01\nAnnual Report 2022-23\n92.65\n91.09\n89.83\n94.39\n92.46\n90.86\n98.60\n98.50\n98.27\n96.13\n96.56\n96.34\n\n\n56 214 Rчl 2022-21\nth | Annual Report 2022-2:\nLIFE NSURANCE CORPORATION OF TINGHA\naf\n2022-23\n2021-22\n2020-21\n22,526\n77,222\n4,397\n560.35\n2,112.43\n151.23\nIhaala\n22,526\n77,222\n4,397\nLàyla\n560.35\n2,112.43\n151.23\nthank\n100.00\n100.00\n100.00\n100.00\n100.00\n100.00\nthan Maplate tha t bl\n62\n\n\n0€\n1p 2ht\nKhalt H\nHey\"\n\n\nLE\nSA TILE\n* aples by\nLIFE INSURANCE CORPORATION OF IND\n•\nMa te\nl me 1 be i thil thalt t top o\nріше заднь\n56đ affa Rule 2022-2\nth Annual Report 2022-2\n\n\nLIC\n56g 2149 Rчl 2022-2\nh | Annual Report 2022-2\nmunina k gabin\nAle\nlilk\nchilata\n81,515\n6,000\n736\n2\n88,253\n81,515\n6,000\n736\n2\n88,253\n0\n0\nWalt ht st\nale depj\n80,407\n5,431\n636\n2\n86,476\n% KE H/₴\n98.64%\n90.52%\n86.41%\n100.00%\n97.99%\n32\n\n\nLIFE INSURANCE CORPORATION OF INDI\n33\n\n\n66đ\nAnnual Report 2022-23\nbaLDE®\n34\n\n\n56 214 Rч 2022-21\nh Annual Report 2022-2:\n31.03.2022 ₫1\n63,16,174\n79,300+\n48,800+\n54,000+\n# les\nT t tace\nHunt\nb che la.\nHEN GUANCE CORPORATION OF ANDIA\n62,56,371\n+007*66\n97,500+\n87,200+\n30,329\n19,005\n49,129\n98,463\n7,085\n1,142\n14,930\n23,157\n35\n\n\n36\nWalley\n199\n1 a14 2022-23\nAnnual Report 2022-23\n017\n\n\n56a alias Rid 2022-2\nth Annual Report 2022-2\nLEE INSURANCE CORPORATION OF INDIA\n2021-22\n3,779\n63,111\n31,564\n2,339\n395\n232\n1,095\n1,02,515\n22,932\n11,960\n2022-23\n3,942\n59,978\n37,945\n3,278\n313\n780\n1,450\n1,07686\n22,946\n41,369\na 2022-23 ₫ 7 Golden Peacock National Training Award - 2023 vall €\nC S C\n37\n\n\n88\nlàt ee meenn lue thelalde lalltlala se\nI Ital:\nM C CỬ CAN C NE P T CN\n•\nTh Ma DEE\nEha-lie Walld l\nLL\nOL\nSINỆ\n6\nbIat \"S0\n9\n9\n17\n\n\nNỆ N Ta Than Tà tie Lafitg Le\nU m C t C C C C Ch Ct Cán Cừ T T C C C C TX\nLetl Ibt- thela\nt t t\nb cn t te\nn th t\ntl\nleti te Siete de\nMe cn due m mag mn m thf mb mat l due bajae bike fel \"boyak bipee\nInl Hbyja\nEz-zz0 Plhà Sllle :\n*99\n\n\nLIC\n66*\nAnnual Report 2022-23\nnassessment\n40\n\n\n666% Annual Repon 202-23\nLIC\nLIFE INSURANCE CORPORATION OF INDE\n-\n-\nLt\n\n\n42\nỆ\nm d l mnê ba gh l al hal ba\nT T, C, T T N NI C\nM t C T T Th 1,1, C,\nM Cl\nAnnual Report 2022-23\n$99\n17\n\n\n56 214 Rчl 2022-21\nth Annual Report 2022-2:\nLIC\nLIFE INSURANCE CORPORATION OF INDE\nCruption free India for\n43\n\n\nhI 1, 7, 6 408\n66172\n44\n\n\n56à 214 Rчl 2022-21\nth | Annual Report 2022-2:\n2022-23\n77\nEZL\nKIB\n2022-23\n2,517\nLEE INSURANCE CORPORATION DE INDIA\n(elas) 2\n145.51\n18.49\n59.03\n10.03\n45\n\n\nLIC\n25,047₫\n31.03.2023 A G - 822.674.20 2x15\n46\n56đ afa frid 2022-23\nth | Annual Report 2022-2:\nCAR 5 AlC\n+9.53%\n+13.64%\n+26.40%\n24,674.98 41\n425% (31.03.2023)\n9%\n7%\n4%\n\n\n56đ affa Rule 2022-2\nh Annual Report 2022-2\n(05)\n(0)\n81,514.17\n1,48,680.29\n1,439.19\n2,936.13\n3,297.20\n2,103.46\n3,835.15\n109.98\n66.34\n152.811\n8,917.03\n12.70\n1.43\n182.97\n2,53,248.85\nLIC\nLIFE INSURANCE CORPORATION OF INDIA\n9.2929%\n9.2403%\n9.6382%\n9.2334%\n11.9222%\n9.1237%\n9.8643%\n9.9665%\n8.5918%\n10.1018%\n8.8092%\n7.4726%\n6.1033%\n6.8829%\n47\n\n\nLIC\n- %)\n48\n66 th\n1 a14 2022-23\nAnnual Report 2022-23\n31 ЧТЕ 2023 4)\n2,55,499\n1,35,455\n53.02%\n1,72,042\n53,442\n1,18,600\n31:69\n\n\n66* Anul Repo1 202-23\ntl pel\nLÊn Le\n•\nlithee solel Miy label\nh N T\nLIC\nLIE INSURANCE CORPORATION OF INDI,\n24,942\n20,570\n4,372\n16,206\n9,139\n7,067\n11,431\n8,736\n3,498\n1,593\n3,645\nIe 870Z Jalle l8\n20.44%\n18.08%\n49\n\n\n86-2702 Play Style 1\nHey\"\n017\n\n\n51\n→ ta de ladiesle\nBhale\nMen ten halla hea\nLEE INSURANCE CORPORATION OF INDIA\n56a alias Rid 2022-2\n\n\nLIC\n66 th\nTa4 ME 2022-23\nAnnual Report 2022-23\n52\n\n\nt t th td C Ga\nl ylà\ntl c ble i\nhalle talf\n(u)\nhalle\nIhle Hbyja\ni-a p een ie99\n\n\n54\nwww.licindia.in - RT| Centre - RTI Page - Disclosures Sr. No. XIII\n199\n017\n\n\n56 214 Rч 2022-21\nth | Annual Report 2022-2\nB B T LIE\nlàbl\nHE SILE\n19:\n2022-23\n39,054.94\n1,92,960.65\n2,41,989.02\n4,74.004.61\n3,14,048.03\n7,88,052.64\n36,397.39\n2022-23\n56,682.00\n43,97,204.59\n5,82,243.00\n1.87\nLEE INSURANCE CORPORATION OF INDI\n2021-22\n36,615.35\n1,62,282.83\n2,28,521.03\n4,21419.21\n2,93,683.36\n7,21,102.57\n4,043.12\n2021-22\n50,390.00\n40,84,600.65\n5,41,492.00\n1.85\n6.67%\n18.90%\n5.90%\n10.90%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_revenue",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total premium: 4,76,63,279.16",
      "golden_context": "Page 587:\n\nSCHEDULE - 1\nPREMIUM EARNED (NET)\nfaaru\nParticulars\n2\n3\n1\n2\nFirst year Premiums\nRenewal Premiums\nSingle Premiums & CAG\nTOTAL PREMIUM\nPremium Income from business written:\nIn India\nOutside India\nTotal Premium\n리성이다\nCurrent Year\n39,26,898.52\n2,43,87,042.77\n1,93,49,337.87\n4,76,63,279.16\n4,74,26,335.98\n2,36,943.18\n4,76,63,279.16\nR in lakhs)\nfs 다\nPrevious Year\n36,87,852.36\n2,30,42,499.04\n1,62,81,329.32\n4,30,11,680.72\n4,27,60,777.87\n2,50,902.85\n4,30,11,680.72",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_revenue_growth",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total premium: 4,76,63,279.16, prior year: 4,30,11,680.72 (in lakhs)",
      "golden_context": "Page 587:\n\n~r‘mH$Vm© H$m Zm‘ … ^maVr¶ OrdZ ~r‘m {ZJ‘ n§OrH$aU H$s g§»¶m 512 VWm VmarI … 01.01.2001 Name of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\n31 _mM©, 2023 H$mo g_má df© Ho$ {bE ^maVr` OrdZ ~r_m {ZJ_ H$m g_o{H$V ZH$X àdmh {ddaU\nCONSOLIDATED CASH FLOW STATEMENT OF LICI FOR THE YEAR ENDED MARCH 31, 2023\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\nn{aMmbZ J{V{d{Y`m| go ZH X àdmh:\nCash Flows from the operating activities:\nnm°{bgrYmaHm| go àmßV àr{_`_, {Og_o A{J«_ àm{ßV`m± em{_b h|\nPremium received from policyholders, including advance receipts 4,75,71,130.78 4,29,04,655.44\nAÝ` àm{ßV`m±\nOther receipts 7,79,950.73 92,971.63\nnwZ… ~r_mH$Vm©Am| Hmo ^wJVmZ, H _reZ Ed§ Xmdm|/bm^ go ewÜX\nPayments to the reinsurers, net of commission and claims / benefit (3,83,976.25) 29,821.43\nXmdm|/bm^m| Hm ^wJVmZ\nPayments of claims/benefits (3,50,47,852.69) (3,58,55,746.28)\nH$_reZ Am¡a Xbmbr Hm ^wJVmZ\nPayments of commission and brokerage (25,26,102.03) (23,30,631.04)\nAÝ` n{aMmbZ ì``m| Hm ^wJVmZ\nPayments of other operating expenses (52,96,664.27) (42,79,890.80)\nO_m, A{J«_ Am¡a ñQm\\ FU\nDeposits, advances and staff loans 17,038.44 71,392.74\nAm`Ha Hm {a\\§S /(^wJVmZ)\nNet Income taxes refund /(paid) 5,82,531.41 (7,37,432.84)\ngodmHa/OrgQr Hm ^wJVmZ\nService tax/ GST paid (2,44,205.42) (2,73,393.86)\nAgmYmaU _Xm| go nyd© ZHX àdmh\nCash flows before extraordinary items 54,51,850.70 (3,78,253.58)\nAgmYmaU g§MmbZ go ZHX àdmh ({ddaU Xo)\nCash flow from extraordinary operations (give break-up) 0.00 0.00\nn{aMmbZ J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from operating activities: {Zdoe J{V{d{Y`m| go ZH X àdmh:\nCash flows from investing activities:\nAMb g§n{ËV`m| Hr IarX\nPurchase of fixed assets (88,647.03) (71,693.87)\nAMb g§n{ËV`m| Hr {~H«r go àm{ßV`m±\nProceeds from sale of fixed assets 34,436.27 62,028.51\n{Zdem| Hr IarX\nPurchases of investments (5,43,73,937.50) (4,27,78,114.95)\n{dV{aV FU (^wJVmZ go ewÜX)\nLoans disbursed (Net of Repayments) (4,02,958.21) (97,125.99)\n{Zdem| Hr {~H«r\nSales of investments 2,24,90,806.24 1,90,38,811.20\n{Ham`m/ã`mO/bm^m§e àmßV\nRents/Interests/ Dividends received 2,68,93,147.54 2,50,55,974.87\n{Zdoe J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from investing activities 54,51,850.70 (3,78,253.58)\n(54,47,152.69) 12,09,879.77\n585\nR\n66th\nJee\nJeeef<e&keÀ efjHeesì& 2022-23\nAnnual Report 2022-23\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCURRENT YEAR\n{nN>bo df©\nPREVIOUS YEAR\n1,62,370.26 43,210.63\n72,209.17 8,74,836.82\n44,86,604.67 36,11,767.85\n45,58,813.84 44,86,604.67\n3,96,089.07 3,99,522.27\n19,23,664.31 20,80,179.57\n7,75,987.99 8,03,338.55\n14,60,557.86 11,57,874.38\n2,514.61 45,689.90\n45,58,813.84 44,86,604.67\n{dËVr` J{V{d{Y`m| go ZH X àdmh:\nCash flows from financing activities:\nHO© Hm ^wJVmZ\nRepayments of borrowing 0.00 0.00\nã`mO/bm^m§e Hm ^wJVmZ\nInterest/dividends paid (94,859.10) 0.00\n{dËVr` J{V{d{Y`m| go ewÜX ZH X àdmh:\nNet cash flow from financing activities (94,859.10) 0.00\nZHX Am¡a ZHX Ho g_Vwë` ewÜX na {dXoer _wÐm Xam| Hm à^md\nEffect of foreign exchange rates on cash and cash equivalents, net ZHX Am¡a ZHX Ho g_Vwë` _| {Zdb d¥{ÜX\nNet Increase in cash and cash equivalents df© Ho àm§a^ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the beginning of the year df© Ho AV§ _| ZHX Ed§ ZHX g_Vwë`\nCash and cash equivalents at the end of the year ZmoQ>: Ad{Y Ho$ A§V _| ZH$X Am¡a ZH$X g_Vwë` Ho$ KQ>H$\nNote: Components of Cash and Cash Equivalent at the end of the period\nhmW _| ZH$X Am¡a MoH$ /Cash and cheques in hand ~¢H$ O_m* /Bank Balances* gmd{Y O_m/ Fixed Deposits _wÐm ~mµOma {dboI / Money Market Instruments _mJ© àmofñV YZ Am¡a AÝ` / Remittance in Transit and others Hw$b ZH$X Am¡a ZH$X g_Vwë` / Total Cash and Cash Equivalents *Bank Balances includes Unclaimed Dividend of ₹15.86 Lakhs\nThe above Receipts and Payments Account has been prepared as prescribed by Insurance Regulatory and Development Authority (Preparation\nof financial statements and auditor's report of insurance companies) Regulations, 2002 under the Direct method in accordance with Accounting\nStandard 3 Cash Flow Statements.\n* yeQkeÀ yewueWme ceW ©he³es 15.86 ueeKe keÀe DemJeeefcekeÀ ueeYeebMe Meeefceue nw~\nGhejesÊeÀ he´eeqhle³eeb Deewj Yegieleeve Keelee yeercee efve³eecekeÀ Deewj efJekeÀeme he´eefOekeÀjCe (efJeÊeer³e efJeJejCeeW keÀer lew³eejer Deewj yeercee kebÀheefve³eeW keÀer uesKeehejer#ekeÀeW keÀer efjheesì&) efJeefve³ece, 2002 Üeje uesKeebkeÀve ceevekeÀ 3\nvekeÀoer he´Jeen efJeJejCe kesÀ Devegmeej he´l³e#e he×efle kesÀ lenle lew³eej efkeÀ³ee ie³ee nw~\nnceejer Gme leejerKe Jeeueer efjHeesì& kesÀ Devegmeej\nAs per our report of even date\nefveosMeJeÀ ceb[ue JeÀer Deesj mes\nOn behalf of the Board\nyeeìueeryee@³e Sb[ hegjesefnle kesÀ efueS\nFor Batliboi & Purohit\nmeveoer uesKeekeÀej\nChartered Accountants\n(FRN: 101048W)\nefme×eLe& ceesnbleer\nSiddhartha Mohanty\nDeO³e#e\nChairperson\n(DIN: 08058830)\nhejeie nbieskeÀj (Heeì&vej)\nParag Hangekar (Partner)\nM.No. 110096\nefceveer DeeF&he\nhe´yebOe efveosMekeÀ\nMini Ipe\nManaging Director\n(DIN: 07791184)\nheJeve Deie´Jeeue\nkebÀheveer meef®eJe\nPawan Agrawal\nCompany Secretary\nSce. heer. efJepe³e kegÀceej\nM.P. Vijay Kumar\nmJeleb$e efveosMekeÀ\nIndependent Director\n(DIN: 05170323)\nefovesMe heble\nefve³egÊeÀ yeerceebkeÀkeÀ\nDinesh Pant\nAppointed Actuary\nmegveerue Deie´Jeeue\ncegK³e efJeÊeer³e DeefOekeÀejer\nSunil Agrawal\nChief Financial Officer\nPlace : Mumbai\nDate: 24.05.2023\n586\nR\n66th\nJee\nJeeef<e&keÀ efjHeesì& 2022-23\nAnnual Report 2022-23\nAZwgyMr - 1 SCHEDULE - 1 àr{_`_ A{O©V ({Zdb)\nPREMIUM EARNED (NET)\n(` bmIm| ‘|)\n(` in lakhs)\n{ddaU\nParticulars\nMmby df©\nCurrent Year\n{nNbm df©\nPrevious Year\n1 àW‘ dfu¶ àr{‘¶‘\nFirst year Premiums 39,26,898.52 36,87,852.36\n2 nadVu àr{‘¶‘\nRenewal Premiums 2,43,87,042.77 2,30,42,499.04\n3 EH$b àr{‘¶‘ Am¡a grEOr\nSingle Premiums & CAG 1,93,49,337.87 1,62,81,329.32\nHw$b àr{‘¶‘\nTOTAL PREMIUM 4,76,63,279.16 4,30,11,680.72\nàr{‘¶‘ Am¶ {b{IV ì¶dgm¶ go\nPremium Income from business written:\n1 ^maV ‘|\n2 ^maV Ho$ ~mha\nHw$b àr{‘¶‘\n------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- -------------------------------",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000452_segments",
      "report_id": "ID_000452",
      "company_name": "Life Insurance Corporation of India",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Participating Life Individual, Participating Pension Individual, Participating Annuity Individual, Non Participating Life (Individual &\nGroup), Non Participating Pension (Individual & Group), Non Participating Annuity Individual, Non Participating Variable\nindividual, Non Participating Health individual, Non Participating Unit Linked and Capital Redemption and Annuity\nCertain Business (CRAC)",
      "golden_context": "Page 405:\n\nequity shares.\n20. Segmental Reporting:\na) Identification of Segments:\nBased on the primary segments identified under IRDA (preparation of Financial statements and auditors’ report of\ninsurance Companies) regulations 2002 (‘the regulations’) read with Accounting Standard 17 on “segmental reporting”\nnotified under section 133 of the Companies act 2013 and rules there under, the Corporation has classified and\ndisclosed segmental information separately for shareholders and policyholders. Accordingly the Corporation has\nprepared the Revenue Account and the Balance Sheet for the primary business segments namely Participating\nLife Individual, Participating Pension Individual, Participating Annuity Individual, Non Participating Life (Individual &\nGroup), Non Participating Pension (Individual & Group), Non Participating Annuity Individual, Non Participating Variable\nindividual, Non Participating Health individual, Non Participating Unit Linked and Capital Redemption and Annuity\nCertain Business (CRAC). The Corporation operates in various geographical segments.\nb) Basis of allocation of expenditure to various segments of business:\nOperating Expenses relating to life insurance business are allocated to Non-Linked Participating, Non-Linked Non-\nParticipating, General Annuities, Pension",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_cash_flow",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 28484.36, investing: -27702.65, financing: -4427.2 (in crore)",
      "golden_context": "Page 377:\n\n~r‘mH$Vm© H$m Zm‘ … ^maVr¶ OrdZ ~r‘m {ZJ‘\nn§OrH$aU H$s g§»¶m 512 VWm VmarI … 01.01.2001\nName of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\nñQ>¢S>AbmoZ àm{á Ed§ ^wJVmZ ImVm 31 ‘mM©, 2024\nSTANDALONE RECEIPT AND PAYMENTS ACCOUNT FOR THE YEAR ENDED MARCH 2024\n31 ‘mM©, 2024 H$mo Hw$b ì¶dgm¶ go g§~§{YV ZH$X àdmh {ddaU\nCASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2024\nIN RESPECT OF TOTAL BUSINESS\n31 ‘mM©, 2024 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2024\n(` H$amo‹S> ‘|)\n(` in Crore)\n31 ‘mM©, 2023 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2023\n(140.26) (173.53)\n{ddaU\nParticulars\nn{aMmbZ J{V{d{Y`m| go ZH$X àdmh:\nCash Flows from the operating activities:\nnm°{bgrYmaH$m| go àmßV àr{_`_, {Og_o A{J«_ àm{ßV`m± em{_b h¢\nPremium received from policyholders, including advance receipts 4,75,797.74 4,73,770.67\nAÝ` àm{ßV`m±\nOther receipts 6,955.77 7,648.54\nnwZ… ~r_mH$Vm©Am| H$mo ^wJVmZ, H$_reZ Ed§ Xmdm|/bm^ go ewÜX\nPayments to the re-insurers, net of commissions and claims/ Benefits Xmdm|/bm^m| H$m ^wJVmZ\nPayments of claims/benefits (3,89,546.77) (3,47,296.28)\nH$_reZ Am¡a Xbmbr H$m ^wJVmZ\nPayments of commission and brokerage (26,331.03) (25,144.69)\nAÝ` n{aMmbZ ì``m| H$m ^wJVmZ\nPayments of other operating expenses (41,292.43) (52,770.67)\nO_m, A{J«_ Am¡a ñQm\\ FU\nDeposits, advances and staff loans (420.37) 167.49\n0.00 0.00\newÕ Am¶H$a YZdmngr (^wJVmZ)\nNet Income taxes refund/ (paid) 5,860.00 5,954.97\ngodmH$a/OrgQr H$m ^wJVmZ\nService tax/ GST paid (2,398.29) (2,438.48)\nAgmYmaU _Xm| go nyd© ZH$X àdmh\nCash flows before extraordinary items 28,484.36 59,718.02\nAgmYmaU g§MmbZ go ZH$X àdmh ({ddaU Xo)\nCash flow from extraordinary operations (give break-up)\nn{aMmbZ J{V{d{Y`m| go ewÜX ZH$X àdmh:\nNet cash flow from operating activities 28,484.36 59,718.02\n{Zdoe J{V{d{Y`m| go ZH$X àdmh:\nCash flows from investing activities:\n375\n31 ‘mM©, 2024 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2024\n{ddaU\nParticulars\n(` H$amo‹S> ‘|)\n(` in Crore)\n31 ‘mM©, 2023 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2023\nAMb g§n{ËV`m| H$s IarX\nPurchase of fixed assets (961.49) (885.53)\nAMb g§n{ËV`m| H$s {~H«$s go àm{ßV`m±\nProceeds from sale of fixed assets\n447.03 341.99\n{Zdoem| H$s IarX\nPurchases of investments (5,71,027.80) (5,42,491.33)\n{dV{aV FU (nwZ©^wJVmZ go ewÕ)\nLoans disbursed (Net of Repayments) (3,684.37) (3,744.79)\n{Zdoem| H$s {~H«$s\nSales of investments 2,55,745.58 2,20,844.28\n{H$am`m/ã`mO/bm^m§e àmßV\nRents/Interests/ Dividends received 2,91,778.40 2,67,739.28\n{Zdoe J{V{d{Y`m| go ewÜX ZH$X àdmh:\nNet cash flow from investing activities (27,702.65) (58,196.10)\n{dËVr` J{V{d{Y`m| go ZH$X àdmh:\nCash flows from financing activities:\nH$O© boZo go àm{á¶m±\nProceeds from borrowing\n0.00 0.00\nH$O© H$m ^wJVmZ\nRepayments of borrowing\n0.00 0.00\nã`mO/bm^m§e H$m ^wJVmZ\nInterest/dividends paid\n(4,427.20) (948.59)\n{dËVr` J{V{d{Y`m| go ewÜX ZH$X àdmh:\nNet cash flow from financing activities\n(4,427.20) (948.59)\nZH$X Am¡a ZH$X Ho g_Vwë` na {dXoer _wÐm Xam| H$m à^md (ewÕ)\nEffect of foreign exchange rates on cash and cash equivalents, net\n(88.09) 296.80\nZH$X Am¡a ZH$X Ho g_Vwë` _| {Zdb d¥{ÜX\nNet increase in cash and cash equivalents:\n(3,733.58) 870.12\ndf© Ho àm§a^ _| ZH$X Ed§ ZH$X g_Vwë`\nCash and cash equivalents at the beginning of the period\n38,445.11 37,574.99\ndf© Ho AV§ _| ZH$X Ed§ ZH$X g_Vwë`\nCash and cash equivalents at the end of the period\n34,711.53 38,445.11\nZmoQ>: Ad{Y Ho$ A§V _| ZH$X Am¡a ZH$X g_Vwë` Ho$ KQ>H$\nNote: Components of Cash and Cash Equivalent at the end of the period\n376\n{ddaU\nParticulars\n31 ‘mM©, 2024 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2024\nhmW _| ZH$X Am¡a MoH$ / Cash and cheques in hand 3,363.57 (` H$amo‹S> ‘|)\n(` in Crore)\n31 ‘mM©, 2023 H$mo\ng‘mßV df© Ho$ {bE\nFor the Year ended\nMarch 31, 2023\n3,960.78\n~¢H$ O_m* / Bank Balances 21,593.17 18,526.90\ngmd{Y O_m / Fixed Deposits 2,325.93 1,336.01\n_wÐm ~mµOma {dboI / Money Market Instruments 5,659.16 14,596.27\n_mJ© àmofñV YZ Am¡a AÝ` / Remittance in Transit and Others 1,769.70 25.15\nHw$b ZH$X Am¡a ZH$X g_Vwë` / Total Cash and Cash Equivalents 34,711.53 38,445.11\nh‘mar Cg VmarI dmbr [anmoQ>© Ho$ AZwgma\nAs per our report of even date\n~mQ>br~m°¶ E§S> nwamo{hV Ho$ {bE\nFor Batliboi & Purohit\ngZXr boImH$ma\nChartered Accountants\n(FRN: 101048W)\nMmoH$er E§S> MmoH$er EbEbnr Ho$ {bE\nFor Chokshi & Chokshi LLP\ngZXr boImH$ma\nChartered Accountants\n(FRN:101872W/ W100045)\n{ZXoeH$ ‘§S>b H$s Amoa go\nOn behalf of the Board\n{gÕmW© ‘moh§Vr\nSiddhartha Mohanty\nAܶj\nChairperson\n(DIN: 08058830)\nnamJ h§JoH$a (nmQ>©Za)\nParag Hangekar (Partner)\nM.No. 110096\n{dZrV g³goZm (nmQ>©Za)\nVineet Saxena (Partner)\nM.No. 100770\nE‘. nr. {dO¶ Hw$‘ma\nM.P. Vijay Kumar\nAܶj boIm narjm g{‘{V\nEd§ ñdV§Ì {ZXoeH$\nChairperson of Audit\nCommittee and\nIndependent Director\n(DIN: 05170323)\n{XZoe n§V\n{Z¶w³V ~r‘m§H$H$\nDinesh Pant\nAppointed Actuary\nAma Xþa¡ñdm{‘ à~§Y {ZXoeH$\nR. Doraiswamy\nManaging Director\n(DIN: 10358884)\ngwZrb AJ«dmb\n‘w»¶ {dËVr¶ A{YH$mar\nSunil Agrawal",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_company_type",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioned. It is not necessary to provide a legal form as I did not find a legal form during labeling.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_key_financials",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "No. of policies (in lacs): 204.3, first year premium in Cr: 2,22,522.99, marked share (policies): 69.91%",
      "golden_context": "Page 4:\n\nNo. of Policies\n(in lacs)\n204.30\nFirst Year Premium\n(₹ in Cr)\n2,22,522.99\nNEW BUSINESS (COMPOSITE)\nDURING THE YEAR 2023-24\nMarket Share\n(Policies)\n69.91%\nMarket Share\n(First Year Premium)\n58.87%\n• Market Share as per IRDAI Statement •\nComposite = (Individual + Group Business)\nPENSION AND GROUP BUSINESS\n(Conventional Business)\nAchievement from\n01.04.2023 to 31.03.2024\nVolume\n37,332\nNo. of Schemes\nMarket\nShare\n81.76%\nNo. of Schemes\n414.18 Lakh\nVolume\nNo. of Lives\nVolume\n₹\n1,64,925.88 Cr\nNew Business Premium Income\nMarket\nShare\n72.30%\nNew Business Premium Income\nTotal Premium Income\n₹\n( In Crore)\n1,71,619.77\nTotal Policy Benefits Paid\n(₹ In Crore )\n1,55,804.21\nBUSINESS IN F",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_revenue",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Premium: 4,75,751.92",
      "golden_context": "Page 4:\n\nNo. of Policies\n(in lacs)\n204.30\nFirst Year Premium\n(₹ in Cr)\n2,22,522.99\nNEW BUSINESS (COMPOSITE)\nDURING THE YEAR 2023-24\nMarket Share\n(Policies)\n69.91%\nMarket Share\n(First Year Premium)\n58.87%\n• Market Share as per IRDAI Statement •\nComposite = (Individual + Group Business)\nPENSION AND GROUP BUSINESS\n(Conventional Business)\nAchievement from\n01.04.2023 to 31.03.2024\nVolume\n37,332\nNo. of Schemes\nMarket\nShare\n81.76%\nNo. of Schemes\n414.18 Lakh\nVolume\nNo. of Lives\nVolume\n₹\n1,64,925.88 Cr\nNew Business Premium Income\nMarket\nShare\n72.30%\nNew Business Premium Income\nTotal Premium Income\n₹\n( In Crore)\n1,71,619.77\nTotal Policy Benefits Paid\n(₹ In Crore )\n1,55,804.21\nBUSINESS IN F",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_revenue_growth",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Premium: 4,75,751.92, prior year: 4,74,669.13 (in crore)",
      "golden_context": "Page 362:\n\n$m‘© E-AmaE FORM A - RA\n~r‘mH$Vm© H$m Zm‘ … ^maVr¶ OrdZ ~r‘m {ZJ‘\nn§OrH$aU H$s g§»¶m 512 VWm VmarI … 01.01.2001\nName of the Insurer: Life Insurance Corporation of India\nRegistration No. 512 Dated: 01.01.2001\n31 _mM©, 2024 H$mo g‘mßV df© Ho$ {bE ñQ>¢S>AbmoZ amOñd ImVm\n(Hw$b ì¶dgm¶ Ho$ g§~§Y ‘|)\nnm°{bgrYmaH$m| H$m ImVm (VH$ZrH$s ImVm)\nSTANDALONE REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2024\nIN RESPECT OF TOTAL BUSINESS\nPolicyholders’ Account (Technical Account)\n{ddaU\nParticulars\nA{O©V ewÕ àr{‘¶‘ / Premiums earned - net\n(H$) àr{_`_\n(a) Premium\nAZwgyMr\nSchedule\n31 ‘mM©, 2024 H$mo\ng‘mßV df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2024\n(` H$amo‹S> ‘|)\n(` in Crore)\n31 ‘mM©, 2023 H$mo\ng‘mßV df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2023\n1 4,75,751.92 4,74,668.13\n(I) nwZ~u‘m A§VaU\n(b) Reinsurance ceded (682.34) (663.53)\n(J) nwZ~u‘m ñdrH$ma\n(c) Reinsurance accepted\n0.00 0.00\n4,75,069.58 4,74,004.60\n{Zdoe go Am¶ / Income from Investments\n(H$) ã¶mO, bm^m§e Ed§ {H$am¶m, gH$b\n(a) Interest, Dividends & Rent - Gross 2,96,321.99 2,73,684.95\n(I) {Zdoe H$s {~H«$s / ‘moMZ na bm^\n(b) Profit on sale/redemption of investments 67,010.48 49,463.19\n(J) ({Zdoe H$s {~H«$s / ‘moMZ na hm{Z)\n(c) (Loss on sale/redemption of investments) (3,255.66) (14,823.86)\n(K) nwZ‘y©ë¶mH§$Z/ghr ‘yë¶ n[adV©Z na A§VaU/bm^*\n(d) Transfer/Gain on revaluation/change in fair value* 3,867.11 (1,934.16)\nAݶ Am¶ / Other Income\n(i) dmng {bIr JB© am{e / Amounts written back 7,704.63 3.96\n(ii) {d{dY àm{á`m§ / Sundry Receipts 6,943.73 7,644.59\nA§eYmaH$m| Ho$ ImVo go AÝ` Ho$ {bE ¶moJXmZ / Contribution from\nShareholder's A/c\n(H$) n«~§YZ Ho$ A{V{a³V ì`` Ho$ {bE\n(a) Towards Excess Expenses of Management\n12.98 9.36\n(I) Aݶ\n(b) Others\n0.00 0.00\nHw$b (H$) / TOTAL (A) 8,53,674.84 7,88,052.63\nH$‘reZ / Commission 2 25,959.12 25,093.58\n~r‘m ì¶dgm¶ go g§~§{YV n[aMmbZ IM© / Operating Expenses\nrelated to Insurance Business\n3 48,121.68 48,632.41\n{Z{Y n«~§YZ n«^ma Ed§ AÝ` n«^ma na dñVw Ed§ godm H$a\nGST on Fund Management charges & other charges\n134.38 109.48\n360\n{ddaU\nParticulars\ng§{X½Y F$Umo§ Ho$ {bE n«mdYmZ / Provisions for doubtful debts AZwgyMr\nSchedule\n31 ‘mM©, 2024 H$mo\ng‘mßV df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2024\n(1,011.48) (` H$amo‹S> ‘|)\n(` in Crore)\n31 ‘mM©, 2023 H$mo\ng‘mßV df© Ho$ {bE\nFOR THE YEAR ENDED\nMARCH 31, 2023\n(1,942.01)\nH$amYmZ Ho$ {bE n«mdYmZ / Provisions for taxation 5,825.16 5,242.84\nn«mdYmZ (H$amYmZ Ho$ A{V{aŠV) /\nProvisions (other than taxation)\n(H$) {Zdoe Ho$ _yë` (ewÕ) _o§ H$_r Ho$ {bE\n(a) For diminution in the value of investments (Net) (1,940.84) (760.21)\n(I) g§{X½Y F$UnÌ Ed§ ~§YnÌ Ho$ {bE n«mdYmZ\n(b) Provision for doubtful Debentures & Bonds\n32.88 (12,144.39)\nHw$b (I) / TOTAL (B) 77,120.90 64,231.70\nAXm {H$`m J`m bm^ (ewÕ) / Benefits paid (Net) 4 3,85,949.15 3,39,312.67\nAXm {H$`m J`m A§V{a_ ~moZg / Interim Bonuses Paid 2,860.18 3,264.08\nOrdZ nm°{b{g`mo§ Ho$ g§~§Y _o§ Xm{`Ëd _yë`m§H$Z _o§ n{adV©Z\nChange in valuation of liability against life policies in force\n(H$) gH$b** /\n(a) Gross** 3,44,076.78 3,41,002.04\n(I) nwZ~r©_m _o§ A§V{aV am{e\n(b) (Amount ceded in Reinsurance)\n0.00 0.00\n(J) nwZ~r©_m _o§ ñdrH¥$V am{e\n(c) Amount accepted in Reinsurance\n0.00 0.00\ng~§Õ Xo`VmAmo§ Ho$ n«mdYmZ _o§ A§VaU\nTransfer to Provision for Linked Liabilities 8,716.85 2,273.41\n~§X H$aZo {Z{Y`mo§ H$mo A§VaU\nTransfer to Funds for Discontinued Fund\n231.42 97.49\n^{dî` Ho$ {d{Z`moJ Ho$ {bE {Z{Y - g§~ÜX ì`dgm`\nTransfer to Funds for future appropriation- Link Business\n11.02 9.81\nHw$b (J) / TOTAL (C) 7,41,845.40 6,85,959.50\nA{Yeof/(KmQm) (K)=(H$)-(I)-(J)\nSURPLUS/(DEFICIT) (D) = (A)-(B)-(C) 34,708.54 37,861.43\nA§eYmaH$mo Ho$ ImVo go hñVm§V{aV am{e (J¡a VH$ZrH$r ImVm)\nAmount transferred From Shareholder's Account\n(Non Technical Account)\n2,598.45 261.87\n{d{Z`moOZ Ho$ {bE CnbãY am{e\nAMOUNT AVAILABLE FOR APPROPRIATION 37,306.99 38,123.30\n{d{Z`moOZ / APPROPRIATIONS\neo`aYmaH$mo§ Ho$ boIm _o§ A§VaU /\nTransfer to Shareholders' Account 40,021.96 36,048.87\nAÝ` Ama{jV {Z{Y`mo§ _o§ A§VaU$ / Transfer to Other Reserves 0.00 0.00\n^mdr {d{Z`moOZ Ho$ {bE {Z{Y`mo§ H$m A§VaU /\nBalance being Funds for Future Appropriations (2,714.97) 2,074.43\nHw$b (K) / TOTAL (D) 37,306.99 38,123.30\n* àm{YH$aU Ûmam {d{Z{X©ï ‘mZXÊS>mo Ho$ AZwgma ‘mZm hþAm àm߶ bm^ Xem©Vm h¡&\n* Represents the deemed realised gain as per norms specified by the Authority.\n** ~moZg Am~§Q>Z Ho$ ~mX J{UVr¶ Ama{jV {Z{Y Xem©Vm h¡&\n** Represents Mathematical Reserves after allocation of bonus.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000453_segments",
      "report_id": "ID_000453",
      "company_name": "Life Insurance Corporation of India",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Participating\nLife Individual, Participating Pension Individual, Participating Annuity Individual, Non Participating Life (Individual\n& Group), Non Participating Pension (Individual & Group), Non Participating Annuity Individual, Non Participating\nVariable individual, Non Participating Health individual, Non Participating Unit Linked and Capital Redemption and\nAnnuity Certain Business (CRAC)",
      "golden_context": "Page 423:\n\n20. Segmental Reporting:\na) Identification of Segments:\nBased on the primary segments identified under IRDA (preparation of Financial statements and auditors’ report\nof insurance Companies) regulations 2002 (‘the regulations’) read with Accounting Standard 17 on “segmental\nreporting” notified under section 133 of the Companies act 2013 and rules there under, the Corporation has classified\nand disclosed segmental information separately for shareholders and policyholders. Accordingly the Corporation\nhas prepared the Revenue Account and the Balance Sheet for the primary business segments namely Participating\nLife Individual, Participating Pension Individual, Participating Annuity Individual, Non Participating Life (Individual\n& Group), Non Participating Pension (Individual & Group), Non Participating Annuity Individual, Non Participating\nVariable individual, Non Participating Health individual, Non Participating Unit Linked and Capital Redemption and\nAnnuity Certain Business (CRAC). The Corporation operates in various geographical segments.\nb) Basis of allocation of expenditure to various segments of business:\nOperating Expenses relating to life insurance business after adjusting for expenses attributable to Shareholders\nAccount and are allocated to various lines of Business such as Non-Linked Participating, Non-Linked Non-Participating,\nGeneral Annuities, Pensions, Health, Group Business and Unit Linked Business on the basis of:\na. Expenses which are directly identifiable to the respective lines of business have been allocated to these lines of\nbusiness on actua",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_cash_flow",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 4,312.28, investing: 424.26, financing: -4,027.44 (in crore)",
      "golden_context": "Page 124:\n\nStatement of Cash Flows\nParticulars (I) Operating activities\nProfit before tax Adjustments for:\nInterest income Depreciation and amortisation Impairment on financial instruments Net loss on disposal of property, plant and equipment Finance costs Share based payment to employees Net gain on fair value changes Service fees for management of assigned portfolio of loans Dividend income Cash inflow from interest on loans Cash inflow from service asset Cash outflow towards finance costs Cash generated from operation before working capital changes Working capital changes\n(Increase)/decrease in trade receivables (Increase)/decrease in loans (Increase)/decrease in other financial assets (Increase)/decrease in other non-financial assets Increase/(decrease) in trade payables Increase/(decrease) in other payables Increase/(decrease) in other financial liabilities Increase/(decrease) in provisions Increase/(decrease) in other non-financial liabilities Income tax paid (net of refunds) Net cash generated from/(used in) operating activities (I) 122\n34th Annual Report 2020-21\n(H In Crore)\nFor the year ended 31 March\n2021 2020\n5,362.88 6,808.13\n(20,419.10) (20,668.15)\n302.25 270.70\n5,721.28 3,805.15\n6.41 1.80\n7,446.39 7,857.55\n111.39 93.71\n(527.72) (460.47)\n(59.55) (53.32)\n- (0.64)\n(2,055.77) (2,345.54)\n18,498.14 20,617.76\n50.10 53.53\n(7,428.48) (7,105.65)\n9,063.99 11,220.10\n137.64 (99.33)\n(3,680.82) (22,133.46)\n(135.12) 28.96\n(34.97) (46.31)\n39.83 89.37\n11.62 (39.18)\n78.61 (1,055.84)\n23.57 (19.54)\n108.45 51.90\n(3,451.19) (23,223.43)\n(1,300.52) (2,107.00)\n4,312.28 (14,110.33)\nCarried forward 4,312.28 (14,110.33)\nStandalone Financial Statements\nCorporate Overview Financial Statements\nStatutory Reports\n2-7 8-104 105-323\nStatement of Cash Flows (Contd.)\n(H In Crore)\nFor the year ended 31 March\nParticulars 2021 2020\nBrought forward 4,312.28 (14,110.33)\n(II) Investing activities\nPurchase of property, plant and equipment (124.41) (369.22)\nProceeds from sale of property, plant and equipment and intangible assets 9.83 6.09\nPurchase of intangible assets (116.30) (106.90)\nPurchase of intangible assets under development and capital work-in-progress (51.06) -\nPurchase of investments measured under amortised cost (500.00) -\nProceeds from sale of investments measured under amortised cost 20.32 33.39\nPurchase of investments measured under FVOCI (3,004.37) (2,246.45)\nProceeds from sale of investments measured under FVOCI 2,082.54 826.09\nPurchase of investments measured under FVTPL (212,917.51) (387,261.18)\nProceeds from sale of investments measured under FVTPL 214,980.43 381,111.79\nPurchase of equity investments designated under FVOCI - (150.00)\nDividend received - 0.64\nInterest received on investments 194.79 123.21\nInvestment in subsidiaries (150.00) (1,600.00)\nNet cash generated from/(used in) investing activities (II) 424.26 (9,632.54)\n(III) Financing activities\nIssue of equity share capital (including securities premium) 103.21 8,568.04\nShare option cost recovered from subsidiary 20.42 -\nShare issue expenses - (45.06)\nDividends paid (2.74) (943.28)\nDividend distribution tax paid - (195.20)\nPayment of lease liability (78.67) (62.04)\nDeposits received (net) 4,246.41 7,987.91\nDebt securities issued (net) 1,622.50 2,135.17\nBorrowings other than debt securities issued/(repaid), net (9,709.85) 6,731.86\nSubordinated debts repaid (net) (228.72) -\nNet cash generated from/(used in) financing activities (III) (4,027.44) 24,177.40\nNet increase in cash and cash equivalents (I+II+III) 709.10 434.53\nCash and cash equivalents at the beginning of the year 674.53 240.00\nCash and cash equivalents at the end of the year 1,383.63 674.53\nThe above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 ‘Statement of Cash Flows’.\nComponents of cash and cash equivalents are disclosed in note no. 5.\nAs per our report of even date On behalf of the Board of Directors\nFor S R B C & CO LLP\nChartered Accountants Sandeep Jain Sanjiv Bajaj\nICAI Firm registration number: 324982E/E300003 Chief Financial Officer Chairman\nper Vaibhav Kumar Gupta\nPartner\nMembership number: 213935\nR Vijay Rajeev Jain\nPune: 27 April 2021 Company Secretary Managing Director",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_company_type",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 8:\n\nBAJAJ FINANCE LIMITED\n34th Annual Report 2020-21\nThird, we carefully looked at each business and function and applied a ‘zero-based\nbudgeting’ framework to streamline processes and eliminate unnecessary costs.\nFourth, we examined and calibrated the risk profiles of each business of the\nCompany to ensure conservatism in new loan bookings.\nFifth, we took a conscious call to make large and sensible provisions. Thanks to a\nfinancially conservative approach that has been a cornerstone of your Company, we\ncould afford an increase in loan losses and provisions from ` 1,501 crore in FY2019\nto ` 3,929 crore in FY2020 to ` 5,969 crore in the current year, and yet generate\nreasonable profits for the shareholders.\nSixth, as the first wave started to abate, your Company accelerated its business\nrapidly by focusing on customers less susceptible to the economic consequences\nof the pandemic.\nSeventh, believing in the dictum, “Never let a crisis go to waste”, your Company\nutilised this crisis to rapidly accelerate the transformational journey it had embarked\nupon in the third quarter of FY2020.\nAll these are given in considerable detail in the chapter on Management Discussion and\nAnalysis. I urge you to read it carefully.\nI have always been proud of your Company’s leadership",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_key_financials",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Loan losses and provisions grew by 52%, profit before tax decreased by 18% to 5,992 crore, profit after tax reduced by 16% to 4,420 crore, total income increased by 1% to 26,683 crore",
      "golden_context": "Page 9:\n\nLoan losses and provisions grew by 52% to ` 5,969 crore.\nProfit before tax decreased by 18% to ` 5,992 crore.\nProfit after tax reduced by 16% to ` 4,420 crore.\nBajaj Finance’s capital adequacy ratio as of 31 March 2021 was 28.31%, which\ncontinued to be well above the RBI norms. Tier I adequacy was 25.11%.\nRahul Bajaj, the founder Chairman of your Company, has decided to retire as a director.\nHe has been a beacon to all of us, and your Board has unanimously decided to have\nhim as Chairman Emeritus. On your behalf, allow me to offer him our heartfelt\nthanks for his long leadership.\nAmidst the second COVID-19 wave, it is difficult to predict what the first and second\nquarter of FY2022 will bring. \n\nPage 8:\n\nn in considerable detail in the chapter on Management Discussion and\nAnalysis. I urge you to read it carefully.\nI have always been proud of your Company’s leadership and employees, and their ability\nto consistently deliver superlative achievements over the past decade.\nIn these incredibly difficult times, I am truly proud of how Bajaj Finance’s team led by\nRajeev Jain, the Managing Director, seamlessly worked together through incredibly\nlong hours to navigate through this crisis. It helped in delivering reasonable results for\nFY2021 and creating a strong platform for the post COVID-19 world. Let me share some\nof the highlights.\nNumber of new loans booked in FY2021 was 16.88 million.\nThe Company’s customer franchise grew by 14% to 48.6 million.\nDespite COVID-19, assets under management (AUM) increased by 4% to\n` 152,947 crore.\nTotal income increased by 1% to ` 26,683 crore.\nNet interest income (NII) rose by 2% to ` 17,269 crore.\nTotal operating expenses (opex) reduced by 6% to ` 5,308 crore. Consequently,\nopex to NII improved to 30.7% from 33.5% in FY2020.\nPre-impairment operating profit increased by 6% to ` 11,961 crore.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_revenue",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total income 23,546.33 (in crore)",
      "golden_context": "Page 120:\n\nStatement of Profit and Loss\nParticulars Revenue from operations\nInterest income Fees and commission income Net gain on fair value changes Sale of services Other operating income Total revenue from operations Other income Total income Expenses\nFinance costs Fees and commission expense Impairment on financial instruments Employee benefits expense Depreciation and amortisation expenses Other expenses Total expenses Profit before tax Tax expense\nCurrent tax Deferred tax (credit)/charge Total tax expense Profit after tax Other comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement losses on defined benefit plans Tax impact on above Changes in fair value of fair value through OCI (FVOCI) equity instruments Tax impact on above Items that will be reclassified to profit or loss in subsequent periods:\nChanges in fair value of FVOCI debt securities Tax impact on above Cash flow hedge reserve Tax impact on above Total other comprehensive income for the year (net of tax) Total comprehensive income for the year 118\nNote No. 26 27 28 29 30 31 32 33 34 35 13 36 12 34th Annual Report 2020-21\n(H In Crore)\nFor the year ended 31 March\n2021 2020\n20,419.10 20,668.15\n2,362.79 2,489.89\n527.72 460.47\n59.55 53.32\n163.00 150.70\n23,532.16 23,822.53\n14.17 11.62\n23,546.33 23,834.15\n7,446.39 7,857.55\n1,301.56 1,104.79\n5,721.28 3,805.15\n2,242.42 2,293.44\n302.25 270.70\n1,169.55 1,694.39\n18,183.45 17,026.02\n5,362.88 6,808.13\n1,470.70 2,079.96\n(63.33) (152.95)\n1,407.37 1,927.01\n3,955.51 4,881.12\n(34.12) (29.53)\n8.59 4.02\n30.87 (92.10)\n(16.17) 23.18\n(41.73) 49.82\n10.50 (12.42)\n(21.24) (75.68)\n5.35 19.05\n(57.95) (113.66)\n3,897.56 4,767.46\nStandalone Financial Statements\nCorporate Overview Financial Statements\nStatutory Reports\n2-7 8-104 105-323\nStatement of Profit and Loss (Contd.)\nFor the year ended 31 March\nParticulars Note No. 2021 2020\nEarnings per share: 37\n(Nominal value per share I 2)\nBasic (I) 65.85 83.25\nDiluted (I) 65.33 82.60\nSummary of significant accounting policies 3\nThe accompanying notes are an integral part of the financial statements\nAs per our report of even date On behalf of the Board of Directors\nFor S R B C & CO LLP\nChartered Accountants Sandeep Jain Sanjiv Bajaj\nICAI Firm registration number: 324982E/E300003 Chief Financial Officer Chairman\nper Vaibhav Kumar Gupta\nPartner\nMembership number: 213935\nR Vijay Rajeev Jain\nPune: 27 April 2021 Company Secretary Managing Director",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_revenue_growth",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total income 23,546.33, prior year: 23,834.15 (in crore)",
      "golden_context": "Page 120:\n\nStatement of Profit and Loss\nParticulars Revenue from operations\nInterest income Fees and commission income Net gain on fair value changes Sale of services Other operating income Total revenue from operations Other income Total income Expenses\nFinance costs Fees and commission expense Impairment on financial instruments Employee benefits expense Depreciation and amortisation expenses Other expenses Total expenses Profit before tax Tax expense\nCurrent tax Deferred tax (credit)/charge Total tax expense Profit after tax Other comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement losses on defined benefit plans Tax impact on above Changes in fair value of fair value through OCI (FVOCI) equity instruments Tax impact on above Items that will be reclassified to profit or loss in subsequent periods:\nChanges in fair value of FVOCI debt securities Tax impact on above Cash flow hedge reserve Tax impact on above Total other comprehensive income for the year (net of tax) Total comprehensive income for the year 118\nNote No. 26 27 28 29 30 31 32 33 34 35 13 36 12 34th Annual Report 2020-21\n(H In Crore)\nFor the year ended 31 March\n2021 2020\n20,419.10 20,668.15\n2,362.79 2,489.89\n527.72 460.47\n59.55 53.32\n163.00 150.70\n23,532.16 23,822.53\n14.17 11.62\n23,546.33 23,834.15\n7,446.39 7,857.55\n1,301.56 1,104.79\n5,721.28 3,805.15\n2,242.42 2,293.44\n302.25 270.70\n1,169.55 1,694.39\n18,183.45 17,026.02\n5,362.88 6,808.13\n1,470.70 2,079.96\n(63.33) (152.95)\n1,407.37 1,927.01\n3,955.51 4,881.12\n(34.12) (29.53)\n8.59 4.02\n30.87 (92.10)\n(16.17) 23.18\n(41.73) 49.82\n10.50 (12.42)\n(21.24) (75.68)\n5.35 19.05\n(57.95) (113.66)\n3,897.56 4,767.46\nStandalone Financial Statements\nCorporate Overview Financial Statements\nStatutory Reports\n2-7 8-104 105-323\nStatement of Profit and Loss (Contd.)\nFor the year ended 31 March\nParticulars Note No. 2021 2020\nEarnings per share: 37\n(Nominal value per share I 2)\nBasic (I) 65.85 83.25\nDiluted (I) 65.33 82.60\nSummary of significant accounting policies 3\nThe accompanying notes are an integral part of the financial statements\nAs per our report of even date On behalf of the Board of Directors\nFor S R B C & CO LLP\nChartered Accountants Sandeep Jain Sanjiv Bajaj\nICAI Firm registration number: 324982E/E300003 Chief Financial Officer Chairman\nper Vaibhav Kumar Gupta\nPartner\nMembership number: 213935\nR Vijay Rajeev Jain\nPune: 27 April 2021 Company Secretary Managing Director",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000454_segments",
      "report_id": "ID_000454",
      "company_name": "Bajaj Finance",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "single reportable segment i.e. financing, since the nature of the loans are exposed to similar\nrisk and return profiles hence they are collectively operating under a single segment.",
      "golden_context": "Page 169:\n\n(basic) (I) (A/B) 65.85 83.25\nEarning per share (diluted) (I) (A/C) 65.33 82.60\n38 Segment Information\nThe Company operates in a single reportable segment i.e. financing, since the nature of the loans are exposed to similar\nrisk and return profiles hence they are collectively operating under a single segment. The Company operates in a single\ngeographical segment i.e. domestic.\n39 Transfer of financial assets that are derecognised in their entirety where the Company has\ncontinuing involvement\nThe Company has not transferred an",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_cash_flow",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -23'794.56 (crore), \ninvesting: 3806.50 (crore), \nfinancing: 21'514.93 (crore)\n",
      "golden_context": "Page 156:\n\nStandalone Statement of Cash Flows\n(₹ in crore)\nFor the year ended 31 March\nParticulars 2022 2021\n(I) Operating activities\nProfit before tax 8,586.39 5,362.88\nAdjustments for:\nInterest income (23,728.58) (20,419.10)\nDepreciation and amortisation 354.91 302.25\nImpairment on financial instruments 4,622.06 5,721.28\nNet loss on disposal of property, plant and equipment and intangible assets 24.10 6.41\nFinance costs 7,573.13 7,446.39\nShare based payment expenses 141.80 111.39\nNet gain on fair value changes (260.43) (527.72)\nService fees for management of assigned portfolio of loans Dividend income (₹ 30,750, Previous year ₹ Nil) -\n(2,730.00) (2,055.77)\nCash inflow from interest on loans 24,088.20 18,498.14\nCash inflow from service asset Cash outflow towards finance costs Cash generated from operation before working capital changes (59.55)\n14,959.60 (6,442.14) (7,354.82)\n(43.38) 9,137.65\n43.54 50.10\nWorking capital changes\n(Increase)/decrease in trade receivables (323.23) 148.02\n(Increase)/decrease in loans (36,508.06) (3,680.82)\n(Increase)/decrease in other financial assets 22.73 (134.90)\n(Increase)/decrease in other non-financial assets (24.60) (2.07)\nIncrease/(decrease) in trade payables 96.27 29.25\nIncrease/(decrease) in other payables 110.26 11.62\nIncrease/(decrease) in other financial liabilities 74.43 125.44\nIncrease/(decrease) in provisions 21.38 23.57\nIncrease/(decrease) in other non-financial liabilities 116.00 28.70\n(36,414.82) (3,451.19)\nIncome tax paid (net of refunds) (2,339.34) (1,300.52)\nNet cash generated from/(used in) operating activities (I) (23,794.56) 4,385.94\nCarried forward (23,794.56) 4,385.94\n156\nStandalone Financial Statements Corporate Overview Statutory Reports Financial Statements\nStandalone Statement of Cash Flows (Contd.)\n(₹ in crore)\nFor the year ended 31 March\nParticulars 2022 2021\nBrought forward (23,794.56) 4,385.94\n(II) Investing activities\nPurchase of property, plant and equipment and capital work-in-progress (349.95) (131.48)\nSale of property, plant and equipment 17.38 9.83\nPurchase of intangible assets and intangible assets under development (246.81) (160.29)\nPurchase of investments measured under amortised cost (9,466.94) (500.00)\nSale of investments measured under amortised cost 4,879.41 20.32\nPurchase of investments measured under FVOCI (3,291.40) (3,004.37)\nSale of investments measured under FVOCI 2,083.84 2,082.54\nPurchase of investments measured under FVTPL (189,911.56) (212,917.51)\nSale of investments measured under FVTPL 200,408.38 214,980.43\nPurchase of equity investments designated under FVOCI (283.16) -\nDividend received (₹ 30,750, Previous year ₹ Nil) -\nInterest received on investments 367.31 194.79\nInvestment in subsidiaries (400.00) (150.00)\nNet cash generated from investing activities (II) 3,806.50 424.26\n(III) Financing activities\nIssue of equity share capital (including securities premium) Share based payment recovered from subsidiary 19.42 20.42\nDividends paid (602.63) (2.74)\nPayment of lease liability (93.97) (78.67)\nDeposits received (net) 4,274.07 4,172.75\nShort term borrowing availed (net) Long term borrowing availed Long term borrowing repaid (10,966.18) (26,790.46)\nNet cash generated from/(used in) financing activities (III) 103.21\n21,514.93 3,049.76 1,045.73\n25,661.54 17,416.82\n172.92 (4,112.94)\nNet increase in cash and cash equivalents (I+II+III) 1,526.87 697.26\nCash and cash equivalents at the beginning of the year 1,371.79 674.53\nCash and cash equivalents at the end of the year 2,898.66 1,371.79\n• The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 'Statement of Cash Flows'.\n• Components of cash and cash equivalents are disclosed in note no. 5.\nAs per our report of even date On behalf of the Board of Directors\nFor Deloitte Haskins & Sells For G.M. Kapadia & Co\nChartered Accountants Chartered Accountants Sandeep Jain Sanjiv Bajaj\nFirm registration number: 302009E Firm registration number: 104767W Chief Financial Officer Chairman\nSanjiv V. Pilgaonkar Rajen Ashar R Vijay Rajeev Jain\nPartner Partner Company Secretary Managing Director\nMembership number: 039826 Membership number: 048243\nPune: 26 April 2022\n157\nBAJAJ FINANCE LIMITED BAJAJ FINANCE LIMITED 35th Annual Report 2021-22\n35th Annual Report 2021-22\nNotes to standalone financial statements for the year ended 31 March 2022\n1 Corporate information\nBajaj Finance Ltd. (‘the Company’, 'BFL') (Corporate ID No.: L65910MH1987PLC042961) is a company limited\nby shares, incorporated on 25 March 1987 and domiciled in India. The shares of the Company are listed on\nthe Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), India. The Company is mainly\nengaged in the business of lending. BFL has a diversified lending portfolio across retail, SME and commercial\ncustomers with a significant presence in urban and rural India. It also accepts public and corporate deposits\nand offers variety of financial services products to its customers. The Company has its registered office at\nAkurdi, Pune, Maharashtra (India). and its principal place of business at 4th floor, Bajaj Finserv Corporate\nOffice, Pune, Maharashtra (India). The parent of the Company is Bajaj Finserv Ltd.\nThe Company is a deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of\nIndia (RBI) since 5 March 1998, with registration no. A-13.00243 and classified as NBFC-Investment and Credit\nCompany (NBFC-ICC) pursuant to circular DNBR (PD) CC.No.097/03.10.001/2018-19 dated 22 February 2019.\nFinancial statements were subject to review and recommendation of Audit Committee and approval of Board\nof Directors. On 26 April 2022, Board of Directors of the Company approved and recommended the financial\nstatements for consideration and adoption by the shareholders in its Annual General Meeting.\n2 Basis of preparation\nThe financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) as\nprescribed in the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and\nnotified under section 133 of the Companies Act, 2013 (the Act) along with other relevant provisions of the Act,\nthe Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company\nand Deposit taking Company (Reserve Bank) Directions, 2016 (‘the NBFC Master Directions’), notification for\nImplementation of Indian Accounting Standards issued by RBI vide circular RBI/2019-20/170 DOR(NBFC).CC.PD.\nNo.109/22.10.106/2019-20 dated 13 March 2020 (‘RBI notification for Implementation of Ind AS’) and other\napplicable RBI circulars/notifications. The Company uses accrual basis of accounting except in case of significant\nuncertainties [Refer note no. 3.1(i) and 3.1(iii)(a)].\nThe standalone financial statements are presented in Indian Rupee (₹), which is also the functional currency\nof the Company, in denomination of crore with rounding off to two decimals as permitted by Schedule III to\nthe Act. The standalone financial statements have been prepared on a historical cost basis, except for certain\nfinancial instruments that are measured at fair value.\nThe financial statements are prepared on a going concern basis as the Management is satisfied that the\nCompany shall be able to continue its business for the foreseeable future and no material uncertainty\nexists that may cast significant doubt on the going concern assumption. In making this assessment, the\nManagement has considered a wide range of information relating to present and future conditions, including\nfuture projections of profitability, cash flows and capital resources. The COVID-19 pandemic has not affected\nthe going concern assumption of the Company.\n2.1 Presentation of financial statements\nThe Company presents its Balance Sheet in the order of liquidity.\nThe Company prepares and present its Balance Sheet, the Statement of Profit and Loss and the\nStatement of Changes in Equity in the format prescribed by Division III of Schedule III to the Act.\nThe Statement of Cash Flows has been prepared and presented as per the requirements of Ind AS 7\n'Statement of Cash Flows'.\nThe Company generally reports financial assets and financial liabilities on a gross basis in the Balance\nSheet. They are offset and reported net only where Ind AS specifically permits the same or it has an\nunconditional legally enforceab",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_company_type",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 5:\n\nBAJAJ FINANCE LIMITED 35th Annual Report 2021-22\nCORPORATE INFORMATION\nBoard of Directors\nAudit Committee\nSanjiv Bajaj\nChairman\nLate Rahul Bajaj\nChairman Emeritus\n(up to 12 February 2022)\nDipak Poddar\n(up to 31 March 2022)\nRanjan Sanghi\n(up to 30 April 2022)\nD J Balaji Rao\nDr. Gita Piramal\n(up to 30 April 2022)\nDr. Omkar Goswami\n(up to 9 July 2021)\nDr. Naushad Forbes\nAnami N Roy\nPramit Jhaveri\n(from 1 August 2021)\nRadhika Haribhakti\n(from 1 May 2022)\nMadhur Bajaj\nRajiv Bajaj\nRajeev Jain\nManaging Director\nAnami N Roy\nChairman\nDr. Naushad Forbes\nPramit Jhaveri\nSanjiv Bajaj\nStakeholders Relationship Committee\nDr. Gita Piramal\nChairperson\n(up to 30 April 2022)\nD J Balaji Rao\nChairman\n(from 1 May 2022)\nRanjan Sanghi\n(up to 30 April 2022)\nRadhika Haribhakti\n(from 1 May 2022)\nSanjiv Bajaj\nNomination and\nRemuneration Committee\nAnami N Roy\nChairman\nRanjan Sanghi\n(up to 30 April 2022)\nRadhika Haribhakti\n(from 1 May 2022)\nSanjiv Bajaj\nCorporate Social Re",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_key_financials",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Number of new loans booked was 24.7m, AUM increased by 29% to 197,452 crore, total income increased by 19% to 31640 crore",
      "golden_context": "Page 19:\n\ne consolidated performance highlights for FY2022 are given below.\nConsolidated Performance Highlights, FY2022\n•\nNumber of new loans booked was 24.7 million.\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\nCustomer franchise grew by 19% to 57.6 million.\nAssets under management (AUM) increased by 29% to ₹ 197,452 crore.\nCore AUM (net of short-term IPO financing receivable) increased by 26% to ₹ 192,087 crore.\nTotal income increased by 19% to ₹ 31,640 crore.\nNet interest income (NII) rose by 27% to ₹ 21,892 crore.\nTotal operating expenses (Opex) grew by 43% to ₹ 7,585 crore.\nOpex to NII stood at 34.6%.\nPre-impairment operating profit increased by 20% to ₹ 14,307 crore.\nImpairment on financial instruments decreased by 20% to ₹ 4,803 crore.\nProfit before tax (PBT) increased by 59% to ₹ 9,504 crore.\nProfit after tax (PAT) increased by 59% to ₹ 7,028 crore.\nCapital adequacy ratio as of 31 March 2022 was 27.22%, Tier I adequacy was 24.75%, which is well\nabove the RBI norms.\nResilience and agility are deeply embedded in BFL’s culture. These cultural anchors have enabled BFL to\nmake swift and calibrated changes to its risk and debt management practices to regain business momentum\nwhile maintaining strong vigil on portfolio quality and adapting to changing customer preferences of post\npandemic world.\nWith the strong financial position, well provisioned balance sheet, omnichannel business strategy and strong\nentry momentum into FY2023, the Company is optimistic about its growth prospects in FY2023.\nOmnichannel Strategy\nBFL is one of the larg",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_revenue",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total income: 23546.33 (in crore)",
      "golden_context": "Page 152:\n\nStandalone Statement of Profit and Loss\n(₹ in crore)\nFor the year ended 31 March\nParticulars Note No. 2022 2021\nInterest income 26 23,728.58 20,419.10\nFees and commission income 27 2,940.06 2,362.79\nRevenue from operations\n27,864.28 23,532.16\nNet gain on fair value changes 28 260.43 527.72\nSale of services 29 43.38 59.55\nOther operating income 30 891.83 163.00\nTotal revenue from operations Other income 31 7.20 14.17\nTotal income 27,871.48 23,546.33\nExpenses\nFinance costs 32 7,573.13 7,446.39\nFees and commission expense 33 1,765.78 1,301.56\nImpairment on financial instruments 34 4,622.06 5,721.28\nEmployee benefits expense 35 3,221.88 2,242.42\nDepreciation and amortisation expenses 13 354.91 302.25\nOther expenses 36 1,747.33 1,169.55\nTotal expenses 19,285.09 18,183.45\nProfit before tax 8,586.39 5,362.88\nTax expense\nCurrent tax 2,242.00 1,470.70\nDeferred tax (credit)/charge (6.10) (63.33)\nTotal tax expense 12 2,235.90 1,407.37\nProfit after tax 6,350.49 3,955.51\nOther comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement gains/(losses) on defined benefit plans (4.30) (34.12)\nTax impact on above 1.08 8.59\nChanges in fair value of fair value through OCI (FVOCI) equity instruments (4.36) 30.87\nTax impact on above (2.78) (16.17)\nItems that will be reclassified to profit or loss in subsequent periods:\nChanges in fair value of FVOCI debt securities Tax impact on above 5.86 10.50\nCash flow hedge reserve Tax impact on above Total other comprehensive income for the year (net of tax) (23.26) (57.95)\n(21.06) 5.35\n(41.73)\n34.86 83.68 (21.24)\nTotal comprehensive income for the year 6,385.35 3,897.56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_revenue_growth",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total income: 23546.33, prior year: 27871.48 (crore)",
      "golden_context": "Page 152:\n\nStandalone Statement of Profit and Loss\n(₹ in crore)\nFor the year ended 31 March\nParticulars Note No. 2022 2021\nInterest income 26 23,728.58 20,419.10\nFees and commission income 27 2,940.06 2,362.79\nRevenue from operations\n27,864.28 23,532.16\nNet gain on fair value changes 28 260.43 527.72\nSale of services 29 43.38 59.55\nOther operating income 30 891.83 163.00\nTotal revenue from operations Other income 31 7.20 14.17\nTotal income 27,871.48 23,546.33\nExpenses\nFinance costs 32 7,573.13 7,446.39\nFees and commission expense 33 1,765.78 1,301.56\nImpairment on financial instruments 34 4,622.06 5,721.28\nEmployee benefits expense 35 3,221.88 2,242.42\nDepreciation and amortisation expenses 13 354.91 302.25\nOther expenses 36 1,747.33 1,169.55\nTotal expenses 19,285.09 18,183.45\nProfit before tax 8,586.39 5,362.88\nTax expense\nCurrent tax 2,242.00 1,470.70\nDeferred tax (credit)/charge (6.10) (63.33)\nTotal tax expense 12 2,235.90 1,407.37\nProfit after tax 6,350.49 3,955.51\nOther comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement gains/(losses) on defined benefit plans (4.30) (34.12)\nTax impact on above 1.08 8.59\nChanges in fair value of fair value through OCI (FVOCI) equity instruments (4.36) 30.87\nTax impact on above (2.78) (16.17)\nItems that will be reclassified to profit or loss in subsequent periods:\nChanges in fair value of FVOCI debt securities Tax impact on above 5.86 10.50\nCash flow hedge reserve Tax impact on above Total other comprehensive income for the year (net of tax) (23.26) (57.95)\n(21.06) 5.35\n(41.73)\n34.86 83.68 (21.24)\nTotal comprehensive income for the year 6,385.35 3,897.56",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000455_segments",
      "report_id": "ID_000455",
      "company_name": "Bajaj Finance",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "No separate reportable segments.",
      "golden_context": "Page 206:\n\n8 Segment Information\n104.63 65.33\nNotes to standalone financial statements for the year ended 31 March 2022 (Contd.)\n37 Earnings per share (EPS)\nBasic EPS is calculated in accordance with Ind AS 33 'Earnings per share' by dividing the profit for the year\nattributable to equity holders of the Company by the weighted average number of equity shares outstanding\nduring the year.\nDiluted EPS is calculated by dividing the profit attributable to equity holders of the Company by the weighted\naverage number of equity shares outstanding during the year plus the weighted average number of equity\nshares that would be issued on conversion of all the dilutive potential equity shares into equity shares\nof the Company.\nThe following reflects the income and share data used in the basic and diluted EPS computations:\nFor the year ended 31 March\nThe Company is engaged primarily in the business of financing and accordingly there are no separate\nreportable segments as per Ind AS 108 'Operating Segment'.\n39 Transfer of financial assets that are derecognised in their entirety where the Company has\ncontinuing involvement\nThe Company has not transferred any assets that are derecognised in their entirety where the Company\ncontinues",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_cash_flow",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -27331.01, investing: -12371.55, financing: 38020.98 (crore)",
      "golden_context": "Page 199:\n\nStandalone Statement of Cash Flows\n(C in crore)\nFor the year ended 31 March\nParticulars 2023 2022\nProfit before tax 13,881.51 8,586.39\nInterest income (30,141.84) (23,736.06)\nDepreciation and amortisation 443.77 354.91\n(I) Operating activities\nAdjustments for:\n3,066.46 4,622.06\n(207.85) (260.42)\nImpairment on financial instruments Net loss on disposal of property, plant and equipment and intangible assets Finance costs 9,285.23 7,578.58\nShare based payment expenses 197.08 141.80\nService fees for management of assigned portfolio of loans Net gain on fair value changes 12.65 (29.17) 24.10\n(43.38)\nDividend income (C 31,125, Previous year C 30,750)\n(3,492.16) (2,732.02)\nCash inflow from interest on loans 29,884.69 24,110.29\nCash inflow from service asset 61.28 53.06\nCash outflow towards finance costs (9,953.33) (6,483.60)\nCash generated from operation before working capital changes 16,500.48 14,947.73\n(2,100.31) (25.69)\n(Increase)/decrease in loans (38,436.92) (36,609.62)\n(Increase)/decrease in other financial assets (69.54) 99.82\n(Increase)/decrease in other non-financial assets 45.18 (24.60)\nIncrease/(decrease) in trade payables 202.46 84.41\nWorking capital changes\n(Increase)/decrease in bank balances other than cash and cash equivalents (Increase)/decrease in trade receivables (40,265.03) (36,464.05)\n(3,566.46) (2,339.34)\n(27,331.01) (23,855.66)\n(80.41) (323.23)\nIncome tax paid (net of refunds) Increase/(decrease) in other payables 245.90 122.12\nIncrease/(decrease) in other financial liabilities 45.47 75.36\nIncrease/(decrease) in provisions 58.90 21.38\nIncrease/(decrease) in other non-financial liabilities (175.76) 116.00\nNet cash used in operating activities (I) Sale of property, plant and equipment 15.63 17.38\nPurchase of investments measured at amortised cost (148.72) (9,466.94)\n(II) Investing activities\nPurchase of property, plant and equipment and capital work-in-progress Purchase of intangible assets and intangible assets under development Proceeds from liquidation of investments measured at amortised cost Purchase of investments classified as FVOCI Proceeds from liquidation of investments classified as FVOCI Purchase of investments classified as FVTPL Proceeds from liquidation of investments classified as FVTPL (449.23) (375.97) 5,107.14 10,900.36 247,971.31 (349.95)\n(246.81)\n4,879.41\n2,083.84\n200,402.37\n(283.16)\n(21,272.49) (3,291.40)\n(252,102.38) (189,905.59)\nPurchase of equity investments designated under FVOCI- Dividend received (C 31,125, Previous year C 30,750)\n575.54 367.31\nInvestment in associate (92.74)-\nInterest received on investments Net cash (used in)/generated from investing activities (II) (12,371.55) 3,806.46\nInvestment in subsidiaries (2,500.00) (400.00)\n198 36th Annual Report 2022-23\nCorporate\nOverview\nStatutory\nReports\nFinancial\nStatements\nStandalone Statement of Cash Flows (Contd.)\n(C in crore)\nFor the year ended 31 March\nParticulars 2023 2022\n(III) Financing activities\nIssue of equity share capital (including securities premium) 158.12 172.92\nShare based payment recovered from subsidiary 26.67 19.22\nDividends paid (1,206.86) (602.63)\nPayment of lease liability (126.91) (93.97)\nDeposits received (net) 13,897.54 4,273.68\nShort term borrowing availed (net) 10,855.49 3,049.76\nLong term borrowing availed 40,153.15 26,243.58\nLong term borrowing repaid (25,736.22) (11,512.22)\nNet cash generated from financing activities (III) 38,020.98 21,550.34\nNet increase/(decrease) in cash and cash equivalents (I+II+III) (1,681.58) 1,501.14\nCash and cash equivalents at the beginning of the year 2,872.93 1,371.79\nCash and cash equivalents at the end of the year 1,191.35 2,872.93\n- The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 ‘Statement of Cash Flows’.\nComponents of cash and cash equivalents\n(C in crore)\nAs at 31 March\nParticulars 2023 2022\nCash and cash equivalents comprises of\nCash on hand 59.07 53.72\nBalance with banks:\nIn current accounts 1,132.28 561.20\nIn fixed deposits (with original maturity of 3 months or less) - 2,258.01\n1,191.35 2,872.93\nAs per our report of even date On behalf of the Board of Directors\nFor Deloitte Haskins & Sells For G.M. Kapadia & Co. Rajeev Jain Chartered Accountants Chartered Accountants Managing Director Chairman\nFirm’s registration number: 302009E Firm’s registration number: 104767W DIN - 01550158 Sanjiv Bajaj\nDIN - 00014615\nSanjiv V. Pilgaonkar Rajen Ashar Sandeep Jain Anami N Roy\nPartner\nMembership number: 039826\nPartner\nChief Financial Officer Membership number: 048243\nChairman - Audit\nCommittee\nDIN - 01361110\nPune: 26 April 2023 R Vijay\nCompany Secretary\nStandalone Financial Statements\n199\nNotes to standalone financial statements for the year ended 31 March 2023\n1 Corporate information\nBajaj Finance Ltd. (‘the Company’, 'BFL') (Corporate ID No.: L65910MH1987PLC042961) is a company\nlimited by shares, incorporated on 25 March 1987 and domiciled in India. The shares of the Company are\nlisted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), India. The Company\nis mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME\nand commercial customers with a significant presence in urban and rural India. It also accepts public and\ncorporate deposits and offers a variety of financial services products to its customers. The Company has\nits registered office at Akurdi, Pune Maharashtra, India and its principal place of business at 4th floor, Bajaj\nFinserv Corporate Office, Pune, Maharashtra (India). The parent of the Company is Bajaj Finserv Ltd.\nThe Company is a deposit taking non-banking financial company (NBFC) registered with the Reserve Bank\nof India (RBI) since 5 March 1998, with Registration No. A-13.00243 and classified as NBFC-Investment\nand Credit Company (NBFC-ICC) pursuant to circular DNBR (PD) CC.No.097/03.10.001/2018-19 dated 22\nFebruary 2019. Under the scale based regulations for NBFCs, the Company has been classified as NBFC-\nUL (upper layer) by the RBI vide press release dated 30 September 2022.\nFinancial statements were subject to review and recommendation of the Audit Committee and approval\nof the Board of Directors. On 26 April 2023, the Board of Directors of the Company approved and\nrecommended the financial statements for consideration and adoption by the shareholders in its Annual\nGeneral Meeting.\n2 Basis of preparation\nThe financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS)\nas prescribed in the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time\nand notified under section 133 of the Companies Act, 2013 (the Act) along with other relevant provisions of\nthe Act, the updated Master Direction – Non-Banking Financial Company – Systemically Important Non-\nDeposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 (‘the NBFC Master\nDirections’), notification for Implementation of Indian Accounting Standards issued by RBI vide circular\nRBI/2019-20/170 DOR(NBFC).CC.PD.No.109/22.10.106/2019-20 dated 13 March 2020 (‘RBI notification for\nImplementation of Ind AS’) and other applicable RBI circulars/notifications. The Company uses accrual\nbasis of accounting in preparation of financial statements (other than Statement of Cash flows) except in\ncase of significant uncertainties [Refer note no. 3.1(i) and 3.1(iii)(a)].\nThe standalone financial statements are presented in Indian Rupee (INR), which is also the functional\ncurrency of the Company, in denomination of crore with rounding off to two decimals as permitted by\nSchedule III to the Act except where otherwise indicated. The standalone financial statements have been\nprepared on a historical cost basis, except for certain financial instruments that are measured at fair value.\nThe financial statements are prepared on a going concern basis as the Management is satisfied that the\nCompany shall be able to continue its business for the foreseeable future and no material uncertainty\nexists that may cast significant doubt on the going concern assumption. In making this assessment,\nthe Management has considered a wide range of information relating to present and future conditions,\nincluding future projections of profitability, cash flows and capital resources.\n2.1 Presentation of financial statements\nThe Company presents its Balance Sheet in the order of liquidity.\nThe Company prepares and presents its Balance Sheet, the Statement of Profit and Loss and the\nStatement of Changes in Equity in the format prescribed by Division III of Schedule III to the Act. The\nStatement of Cash Flows has been prepared and presented as per the requirements of Ind AS 7 'Statement\nof Cash Flows'.\nThe Company generally reports financial assets and financial liabilities on a gross basis in the Balance\nSheet. They are offset and reported net only where it has legally enforceable right to offset the recognised\namounts and the Company intends to either settle on a net basis or to realise the asset and settle the\nliability simultaneously as permitted by Ind AS. Similarly, the Company offsets incomes and expenses and\nreports the same on a net basis where the netting off reflects the substance of the transaction or other\nevents as permitted by Ind AS.\n200 36th Annual Report 2022-23\nCorporate\nOverview\nStatutory\nReports\nFinancial\nStatements\nNotes to standalone financial statements for the year ended 31 March 2023 (Contd.)\n2 Basis of preparation (Contd.)\nCritical accounting estimates and judgements\nThe preparation of the Company’s financial statements requires Management to make use of estimates\nand judgements. In view of the inherent uncertainties and a level of subjectivity involved in measurement\nof items, it is possible that the outcomes in the subsequent financial years could differ from the\nManagement’s estimates and judgements. Accounting estimates and judgements are used in various line\nitems in the financial statements for e.g.:\n•\n•\n•\n•\n•\nBusiness model assessment [Refer note no. 3.4(i)(a) and 9]\nFair value of financial instruments (Refer note no. 3.15, 46)\nImpairment of financial assets [Refer note no. 3.4(i), 9 and 47]\nProvisions and contingent liabilities (Refer note no. 3.10 and 41)\nProvision for tax expenses (Refer note no. 3.6)\n3 Summary of significant accounting policies\nThis note provides a list of the significant accounting policies adopted in the preparation of these\nfinancial statements. These policies have been consistently applied to all the years presented, unless\notherwise stated.\n3.1 Income\n(i) Interest income\nThe Company recognises interest income using effective interest rate (EIR) on all financial assets\nsubsequently measured under amorti",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_company_type",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nABOUT BAJAJ FINANCE\nBajaj Finance Ltd. is one of India’s leading and most diversified\nfinancial services companies.\nAt the heart of our business lies innovation and financial inclusion. Over the last 16 years, Bajaj\nFinance has enabled India’s growing mass affluent and middle-class population access to all\nkinds of financial services to realise their dreams. Since inception, the company has leveraged\ntechnology to launch 22 product lines and 46 product variants for retail, MSME and commercial\nconsumers, with major product innovations such as EMI card and Flexi.\nCustomers\n69.1 million\nLocat",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_key_financials",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "247,379 Core AUM, 11,508 crore profit after tax, 28,846 crore net interest income (crore)",
      "golden_context": "Page 5:\n\nFY2023 WAS AN EXCELLENT YEAR\nFOR BAJAJ FINANCE\nFinancial snapshot\nE 247,379 crore\n29% Y0Y\nE 11,508 crore\n64% Y0Y\n24.97%\n16-year CAGR 36%\n16-year CAGR 52%\nas of 31 March 2023\nCore AUM\nProfit after Tax Capital adequacy ratio\n29.6 million 20% E 28,846 crore\n32%\n0.94%\nBest ever\nNew loans booked Net Interest Income Gross NPA\nBusiness highlights\nNew customers\nTech-driven EMI Card franchise\n11.6 million\nHighest ever customer\nfranchise addition\n35.5 million\nNet users on digital app\nplatform\n42 million\ncards in force (CIF)\nEMI Card franchise\nCredit Rating\nAAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA,\nA1+ for short-term borrowing from CRISIL, India Ratings and ICRA, and\nAAA/Stable for fixed deposit program from CRISIL and ICRA.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_revenue",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total income: 35,686.57 crore",
      "golden_context": "Page 195:\n\nStandalone Statement of Profit and Loss\n(C in crore)\nFor the year ended 31 March\nParticulars Note No. 2023 2022\nRevenue from operations\nInterest income 25 30,141.84 23,736.06\nFees and commission income 26 4,203.96 2,940.62\nNet gain on fair value changes 27 207.85 260.42\nSale of services 28 29.17 43.38\nOther operating income 29 1,098.38 891.83\nTotal revenue from operations 35,681.20 27,872.31\nOther income 30 5.37 6.81\nTotal income 35,686.57 27,879.12\nExpenses\nFinance costs 31 9,285.23 7,578.58\nFees and commission expense 32 1,934.38 1,782.37\nImpairment on financial instruments 33 3,066.46 4,622.06\nEmployee benefits expense 34 4,573.08 3,224.53\nDepreciation and amortisation expenses 13 443.77 354.91\nOther expenses 35 2,502.14 1,730.28\nTotal expenses 21,805.06 19,292.73\nProfit before tax 13,881.51 8,586.39\nTax expense\nCurrent tax 3,593.00 2,242.00\nDeferred tax (credit)/charge (1.23) (6.10)\nTotal tax expense 12 3,591.77 2,235.90\nProfit after tax 10,289.74 6,350.49\nOther comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement gains/(losses) on defined benefit plans (33.32) (4.30)\nTax impact on above 8.38 1.08\n_x0007_ Changes in fair value of fair value through OCI (FVOCI) equity\ninstruments (13.99) (4.36)\nTax impact on above 3.73 (2.78)\nItems that will be reclassified to profit or loss:\nChanges in fair value of FVOCI debt securities (11.27) (23.26)\nTax impact on above 2.84 5.86\nCash flow hedge reserve 22.16 83.68\nTax impact on above (5.58) (21.06)\nTotal other comprehensive income for the year (net of tax) (27.05) 34.86\nTotal comprehensive income for the year 10,262.69 6,385.35",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_revenue_growth",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total income: 35,686.57 crore, prior years: 27879.12 crore",
      "golden_context": "Page 195:\n\nStandalone Statement of Profit and Loss\n(C in crore)\nFor the year ended 31 March\nParticulars Note No. 2023 2022\nRevenue from operations\nInterest income 25 30,141.84 23,736.06\nFees and commission income 26 4,203.96 2,940.62\nNet gain on fair value changes 27 207.85 260.42\nSale of services 28 29.17 43.38\nOther operating income 29 1,098.38 891.83\nTotal revenue from operations 35,681.20 27,872.31\nOther income 30 5.37 6.81\nTotal income 35,686.57 27,879.12\nExpenses\nFinance costs 31 9,285.23 7,578.58\nFees and commission expense 32 1,934.38 1,782.37\nImpairment on financial instruments 33 3,066.46 4,622.06\nEmployee benefits expense 34 4,573.08 3,224.53\nDepreciation and amortisation expenses 13 443.77 354.91\nOther expenses 35 2,502.14 1,730.28\nTotal expenses 21,805.06 19,292.73\nProfit before tax 13,881.51 8,586.39\nTax expense\nCurrent tax 3,593.00 2,242.00\nDeferred tax (credit)/charge (1.23) (6.10)\nTotal tax expense 12 3,591.77 2,235.90\nProfit after tax 10,289.74 6,350.49\nOther comprehensive income (OCI)\nItems that will not be reclassified to profit or loss:\nRemeasurement gains/(losses) on defined benefit plans (33.32) (4.30)\nTax impact on above 8.38 1.08\n_x0007_ Changes in fair value of fair value through OCI (FVOCI) equity\ninstruments (13.99) (4.36)\nTax impact on above 3.73 (2.78)\nItems that will be reclassified to profit or loss:\nChanges in fair value of FVOCI debt securities (11.27) (23.26)\nTax impact on above 2.84 5.86\nCash flow hedge reserve 22.16 83.68\nTax impact on above (5.58) (21.06)\nTotal other comprehensive income for the year (net of tax) (27.05) 34.86\nTotal comprehensive income for the year 10,262.69 6,385.35",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000456_segments",
      "report_id": "ID_000456",
      "company_name": "Bajaj Finance",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "One reportable segment",
      "golden_context": "Page 245:\n\nWeighted average number of equity shares for diluted earnings per share 607,044,727 606,966,459\nEarning per share (basic) (C) (A/B) 170.37 105.39\nEarning per share (diluted) (C) (A/C) 169.51 104.63\n37 Segment Information\n_x0007_ The Company is engaged primarily in the business of financing and accordingly there are no separate reportable\nsegments as per Ind AS 108 dealing with Operating Segment.\n38 Transfer of financial assets that are derecognised in their entirety where the Company\nhas continuing involvement\n_x0007_ The Company has not transferred any assets that are derecognised in their entirety where the Company\ncontinues to have continuing involvement.\n39 Revenue from contracts with customers\n(C in crore)\nFor the year ended 31 March\nPar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_cash_flow",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: -54337.69, investing: -7762.87, financing: 64774.36 (crore)",
      "golden_context": "Page 225:\n\nStandalone Statement of Cash Flows\n(C in crore)\nFor the year ended 31 March\nParticulars 2024 2023\nProfit before tax 17,053.08 13,881.51\nAdjustments for:\n(I) Operating activities\n4,572.19 3,066.46\nInterest income (40,782.76) (30,141.84)\nDepreciation and amortisation expenses 629.13 443.77\nImpairment on financial instruments Net loss on disposal of property, plant and equipment and intangible assets Finance costs 13,843.44 9,285.23\nShare based payment expenses Net gain on fair value changes (138.85) (207.85)\nService fees for management of assigned portfolio of loans 11.76 (24.05) 12.65\n(29.17)\n237.66 197.08\nDividend income (C 30,225, Previous year C 31,125)\n(4,598.40) (3,492.16)\nCash inflow from interest on loans 38,732.89 29,884.69\nCash inflow from service asset 49.58 61.28\nCash outflow towards finance cost (12,424.79) (9,948.25)\nCash generated from operation before working capital changes 21,759.28 16,505.56\n(3,210.56) (2,071.67)\n(Increase)/decrease in trade receivables (193.89) (80.41)\n(Increase)/decrease in loans (68,567.63) (38,436.92)\nWorking capital changes\n(Increase)/decrease in bank balances other than cash and cash equivalents 48.21 202.46\n(Increase)/decrease in other financial assets 6.08 (69.54)\n(Increase)/decrease in other non-financial assets (33.39) 45.18\nIncrease/(decrease) in trade payables 111.46 245.90\nIncrease/(decrease) in other financial liabilities 99.55 40.35\nIncrease/(decrease) in other payables (71,542.09) (40,241.51)\nIncrease/(decrease) in provisions 71.13 58.90\nIncrease/(decrease) in other non-financial liabilities 126.95 (175.76)\nIncome tax paid (net of refunds) (4,554.88) (3,566.46)\nNet cash used in operating activities (I) (54,337.69) (27,302.41)\n(II) Investing activities\nPurchase of property, plant and equipment and capital work-in-progress (568.25) (449.23)\nPurchase of intangible assets and intangible assets under development (414.13) (375.97)\nSale of property, plant and equipment and intangible assets Purchase of investments measured at amortised cost (289.76) (148.72)\nProceeds from liquidation of investments measured at amortised cost Purchase of investments classified as FVOCI (23,310.68) (21,272.49)\nProceeds from liquidation of investments classified as FVOCI Purchase of investments classified as FVTPL (72,737.52) (252,102.38)\nProceeds from liquidation of investments classified as FVTPL 35.51 61.95 15,231.80 73,887.55 15.63\n5,107.14\n10,900.36\n247,971.31\nDividend received (C 30,225, Previous year C 31,125)\n808.13 546.88\nInvestment in associates (267.47) (92.74)\nInterest received on investments Net cash used in investing activities (II) (7,762.87) (12,400.21)\nInvestment in subsidiaries (200.00) (2,500.00)\n226 37th Annual Report 2023-24\nCorporate\nOverview\nStatutory\nReports\nFinancial\nStatements\nStandalone Statement of Cash Flows (Contd.)\nParticulars 2024 2023\n(III) Financing activities\nIssue of equity share capital (including securities premium) 9,067.17 158.12\nIssue of share warrants 297.21 Share based payment recovered from subsidiaries 30.57 26.67\nShare issue expenses (34.54) Dividends paid (1,814.58) (1,206.86)\nPayment of lease liability (155.44) (126.91)\nDeposits received (net) 14,751.88 13,897.60\nShort term borrowing availed (net) 16,355.94 10,855.49\nLong term borrowing availed 48,834.19 40,153.15\nLong term borrowing repaid (22,558.04) (25,736.22)\nNet cash generated from financing activities (III) 64,774.36 38,021.04\nNet increase/(decrease) in cash and cash equivalents (I+II+III) 2,673.80 (1,681.58)\nCash and cash equivalents at the beginning of the year 1,191.35 2,872.93\n(C in crore)\nFor the year ended 31 March\n-\n-\nCash and cash equivalents at the end of the year 3,865.15 1,191.35\n- The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 'Statement of Cash Flows'.\n- The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 'Statement of Cash Flows'.\n- _x0007_ Cash receipt and payment for borrowings in which the turnover is quick, the amounts are large, and the maturities are short are defined\nas short term borrowings and shown on net basis. Such items include commercial papers, cash credit, overdraft facility, working capital\ndemand loan and triparty repo dealing and settlement. All other borrowings are considered as long term borrowings.\ndemand loan and triparty repo dealing and settlement. All other borrowings are considered as long term borrowings.\nComponents of cash and cash equivalents\n(C in crore)\nAs at 31 March\nParticulars 2024 2023\nCash and cash equivalents comprises of\nCash on hand 58.84 59.07\nBalance with banks in current accounts 3,806.31 1,132.28\n3,865.15 1,191.35\nAs per our report of even date On behalf of the Board of Directors\nFor Deloitte Haskins & Sells For G.M. Kapadia & Co. Rajeev Jain Chartered Accountants Chartered Accountants Managing Director Chairman\nFirm's registration number: 302009E Firm's registration number: 104767W DIN - 01550158 Sanjiv Bajaj\nDIN - 00014615\nSanjiv V. Pilgaonkar Rajen Ashar Sandeep Jain Anami N Roy\nPartner Partner Chief Financial Officer Chairman - Audit\nMembership number: 039826 Membership number: 048243\nCommittee\nDIN - 01361110\nPune: 25 April 2024 R Vijay\nCompany Secretary\nStandalone Financial Statements\n227\nNotes to standalone financial statements for the year ended 31 March 2024\n1 Corporate information\nBajaj Finance Ltd. (‘the Company’, 'BFL') (Corporate ID No.: L65910MH1987PLC042961), a subsidiary of\nBajaj Finserv Ltd., is a company limited by shares, incorporated on 25 March 1987 and domiciled in India.\nThe shares of the Company are listed on the Bombay Stock Exchange (BSE) and the National Stock\nExchange (NSE), India. The Company is mainly engaged in the business of lending. BFL has a diversified\nlending portfolio across retail, SME and commercial customers with a significant presence in urban and\nrural India. It also accepts public and corporate deposits and offers a variety of financial services products\nto its customers. The Company has its registered office at Akurdi, Pune, Maharashtra, India and its principal\nplace of business at 4th floor, Bajaj Finserv Corporate Office, Pune, Maharashtra (India).\nThe Company is a Deposit taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank\nof India (RBI) since 5 March 1998, with Registration No. A-13.00243 and classified as NBFC-Investment\nand Credit Company (NBFC-ICC) pursuant to circular DNBR (PD) CC.No.097/03.10.001/2018-19 dated 22\nFebruary 2019. Since 30 September 2022, the Company has been classified as NBFC-UL (upper layer) by\nthe RBI as part of its 'Scale Based Regulation'.\nFinancial statements were subject to review and recommendation of the Audit Committee and approval\nof the Board of Directors. On 25 April 2024, the Board of Directors of the Company approved and\nrecommended the financial statement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_company_type",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nB A J A J F I N A N C E LIMITED",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_key_financials",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "AUM 330,615 crore, 14,451 profit after tax  (crore), 0.37% Net NPA",
      "golden_context": "Page 4:\n\nFY2024 HIGHLIGHTS: OUR YEAR IN REVIEW\nFinancial Omnipresence metrics\nE 330,615 crore\nAUM\nE 14,451 crore\nProfit after Tax\n34%\n52.41 million\nNet Bajaj Finserv app installs\n26%\n198,250+\nActive distribution points\n4,145\nLocations\nE 60,151 crore\nDeposits\n35%\nNet NPA Gross NPA 0.37%\n0.85%\nBest ever\nBest ever\nY0Y Growth\n24.78 million\nUPI handles\nE 11,700 crore\nPersonal loans disbursed on\nBajaj Finserv app\nSocial\nEnvironment\n99,000+\nYouth skilled for employment\nand enterprise\n19,000+\nBeneficiaries of Women Empowerment\nprogrammes\n4.92+ lakh\nBeneficiaries of child health, education and\nprotection projects\n100\nMicrofinance branches opening\n626.8 kilowatt\nCapacity of solar panels installed\n~3.45 lakh\nSaplings planted\n20 E-Vehicles\nIntroduced for inter-office shuttle services\n54,000+ E-Vehicles\nFinanced\nFY2024 Highlights: Our Year in Review\n03",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_revenue",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Net total income: 36258 crore",
      "golden_context": "Page 7:\n\nuss NBFCs. NBFCs have become key players in India's financial sector, supplementing banks\nby filling the credit gap for under-served segments and Micro, Small, and Medium Enterprises (MSMEs).\nWith a deep understanding of local markets and a strong drive for innovation, NBFCs have advanced credit\ndissemination, offering customised products and services at a reasonable cost. NBFC sector AUM is estimated\nat US$ 326 billion as of FY2023, reflecting their increasing role in meeting the needs of growing India. This\nperformance shows the sector's strength and its vital contribution to India's economic growth.\nYour Company had yet another strong year exhibited in superior financial results. In FY2024:\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\nCustomer franchise grew by 21% to 83.64 million\nNumber of new loans booked was 36.20 million\nNumber of customers on Bajaj Finserv App was 52.41 million\nAssets under management (AUM) increased by 34% to ` 330,615 crore\nNet interest income (NII) increased by 29% to ` 29,582 crore\nNet total income (NTI) increased by 26% to ` 36,258 crore\nTotal operating expenses (Opex) grew by 22% to ` 12,325 crore\nOpex to Net Total Income (NTI) stood at 34%\nPre-impairment operating profit increased by 28% to ` 23,933 crore\nImpairment on financial instruments increased by 45% to ` 4,631 crore\nProfit before tax (PBT) increased by 24% to ` 19,310 crore\nProfit after tax (PAT) increased by 26% to ` 14,451 crore\nCapital adequacy ratio as on 31 March 2024 was 22.52%, Tier-I adequacy was 21.51% including CET1\nratio of 21.32% which are well above the RBI norms.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_revenue_growth",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Increase of 26%",
      "golden_context": "Page 7:\n\nuss NBFCs. NBFCs have become key players in India's financial sector, supplementing banks\nby filling the credit gap for under-served segments and Micro, Small, and Medium Enterprises (MSMEs).\nWith a deep understanding of local markets and a strong drive for innovation, NBFCs have advanced credit\ndissemination, offering customised products and services at a reasonable cost. NBFC sector AUM is estimated\nat US$ 326 billion as of FY2023, reflecting their increasing role in meeting the needs of growing India. This\nperformance shows the sector's strength and its vital contribution to India's economic growth.\nYour Company had yet another strong year exhibited in superior financial results. In FY2024:\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\nCustomer franchise grew by 21% to 83.64 million\nNumber of new loans booked was 36.20 million\nNumber of customers on Bajaj Finserv App was 52.41 million\nAssets under management (AUM) increased by 34% to ` 330,615 crore\nNet interest income (NII) increased by 29% to ` 29,582 crore\nNet total income (NTI) increased by 26% to ` 36,258 crore\nTotal operating expenses (Opex) grew by 22% to ` 12,325 crore\nOpex to Net Total Income (NTI) stood at 34%\nPre-impairment operating profit increased by 28% to ` 23,933 crore\nImpairment on financial instruments increased by 45% to ` 4,631 crore\nProfit before tax (PBT) increased by 24% to ` 19,310 crore\nProfit after tax (PAT) increased by 26% to ` 14,451 crore\nCapital adequacy ratio as on 31 March 2024 was 22.52%, Tier-I adequacy was 21.51% including CET1\nratio of 21.32% which are well above the RBI norms.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000457_segments",
      "report_id": "ID_000457",
      "company_name": "Bajaj Finance",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "The Company is engaged primarily in the business of financing and accordingly there are no separate reportable\nsegments as per Ind AS 108 'Operating Segment'.",
      "golden_context": "Page 267:\n\n(A) Net profit attributable to equity shareholders (C in crore) 12,644.11 10,289.74\n(B) Weighted average number of equity shares for basic earnings per share 610,032,743 603,976,750\nEffect of dilution:\nEmployee stock options 2,350,306 3,067,977\n(C) Weighted average number of equity shares for diluted earnings per share 612,383,049 607,044,727\nEarning per share (basic) (C) (A/B) 207.27 170.37\nEarning per share (diluted) (C) (A/C) 206.47 169.51\n37 Segment information\n_x0007_ The Company is engaged primarily in the business of financing and accordingly there are no separate reportable\nsegments as per Ind AS 108 'Operating Segment'.\n268 37th Annual Report 2023-24\nCorporate\nOverview\nStatutory\nReports\nFinancial\nStatements\nNotes to standalone finan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_cash_flow",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -349.56, investing: 659.42, financing: -460.04 (all in lakh)",
      "golden_context": "Page 70:\n\nCash Flow Statement for the year ended 31st March, 2021\n2020 - 21 2019 - 20\nA: CASH FLOW FROM OPERATING ACTIVITIES\nNet Profit before Tax as per Statement of Profit and Loss Adjusted for:\nDepreciation and Amortisation Expense 13 01.61 Net Gain on Financial Assets (1 39.21) Interest Income (14 08.75) Dividend Income ( 22.73) 8 07.69 (` in Lakh)\n9 26.01\n14 03.94\n(1 58.12)\n(14 08.75)\n( 22.36)\n(2 69.08) (1 85.29)\n5 38.61 7 40.72\n(6 37.33) ( 98.72) (3 49.56) B: C: Operating Profit before Working Capital Changes\nAdjusted for:\nTrade and Other Receivables 3 41.70 Inventories 7.12 Trade and Other Payables (9 86.15) Cash Generated from/ (used in) Operations Taxes Paid (Net) (2 50.84) Net Cash flow from / (used in) Operating Activities* CASH FLOW FROM INVESTING ACTIVITIES\nProceeds from disposal of Property, Plant and Equipment and Intangible\nAssets - Purchase of Investments (7 72.06) Proceeds from Sale of Investments - Interest received 14 08.75 Dividend Income 22.73 Net Cash flow from Investing Activities CASH FLOW FROM FINANCING ACTIVITIES\nDividend Paid (Including Dividend Distribution Tax) Net Cash flow used in Financing Activities Net (Decrease) / Increase in Cash and Cash Equivalents Opening Balance of Cash and Cash Equivalents Closing Balance of Cash and Cash Equivalents (Refer Note ”7”) * Includes amount spent in cash towards Corporate Social Responsibility is ₹ 30 lakh (Previous year ₹ 35 Lakh)\n(10 92.36)\n31.03\n8 12.72\n(2 48.61)\n4 92.11\n(3 63.84)\n1 28.27\n3.43\n(51 30.00)\n42 37.62\n14 08.75\n22.36\n6 59.42 5 42.16\n(4 60.04) (5 56.89)\n(4 60.04) (5 56.89)\n(1 50.18) 2 67.33 1 13.55\n1 53.78\n1 17.15 2 67.33\nAs per our Report of even date For D T S & Associates LLP Chartered Accountants\nFirm Registration No: 142412W/W100595 For and on behalf of the board\nMahesh K. Kamdar Chairman\nChandra Raj Mehta\nSandeep H. Junnarkar Directors\nSaurabh Pamecha Bhama Krishnamurthy\nPartner A. Siddharth\nMembership No: 126551\nDate : April 14, 2021 Dilip V. Dherai Executive Director\nShailesh Dholakia Company Secretary\nKrimesh Divecha Chief Financial Officer\n69\nReliance Industrial Infrastructure Limited\nNotes to the Standalone Financial Statement for the year ended 31st March, 2021\nA. CORPORATE INFORMATION\nReliance Industrial Infrastructure Limited (“the Company”) is a listed entity incorporated in India, having its registered office at NKM\nInternational House, 5th Floor, 178 Backbay Reclamation, Behind LIC Yogakshema Building, Babubhai Chinai Road, Mumbai - 400 020,\nIndia.\nThe Company is mainly engaged in “Infrastructure and Support Services Activities” catering to Indian Customers.\nB. SIGNIFICANT ACCOUNTING POLICIES\nB.1 BASIS OF PREPARATION AND PRESENTATION\nThe Financial Statements have been prepared on the historical cost basis except for following assets and liabilities which have been\nmeasured at fair value amount:\n(i) Certain financial assets and liabilities.\n(ii) Defined benefit plans - plan assets.\nThe Financial Statements of the Company have been prepared to comply with the Indian Accounting standards (‘Ind AS’), including\nthe rules notified under the relevant provisions of the Companies Act, 2013.\nThe Company’s Financial Statements are presented in Indian Rupees (₹), which is its functional currency and all values are rounded to\nthe nearest lakh (₹ 00,000) except when otherwise indicated.\nB.2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES\n(a) Current and Non-Current Classification\nThe Company presents assets and liabilities in the Balance Sheet ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_company_type",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\nReliance Industrial Infrastructure Limited\nCompany Information\nBoard of Directors\nMahesh K. Kamdar Non-Executive Chairman\nChandra Raj Mehta Independent Director\nSandeep H. Junnarkar Independent Director\nA. Siddharth Non-Executive Director\nBhama Krishnamurthy (Smt.) Independent Director\nDilip V. Dherai Executive Director\nChief Financial Officer\nKrimesh Divecha\nAuditors\nD T S & Associates LLP\nBankers\nHDFC Bank Limited\nCanara Bank (Syndicate Bank merged with Canara Bank)\nAudit Committee\nChandra Raj Mehta Chairman\nA. Siddharth\nBhama Krishnamurthy (Smt.)\nNomination and Remuneration Committee\nChandra Raj Mehta Chairman\nSandeep H. Junnarkar\nBhama Krishnamurthy (Smt.)\nStakeholders Relationship Committee\nChandra Raj Mehta Chairman\nMahesh K. Kamdar\nSandeep H. Junnarkar\nA. Siddharth\nCorporate Social Responsibility Committee\nChandra Raj Mehta Chairman\nA. Siddharth\nBhama Krishnamurthy (Smt.)\nCompany Secretary and Compliance Officer\nShailesh Dholakia\nRegistered Office\nNKM International House, 5th Floor,\n178 Backbay Reclamation,\nBehind LIC Yogakshema Building,\nBabubhai Chinai Road,\nMumbai - 400 020, India\nCIN : L60300MH1988PLC049019\nWebsite : www.riil.in\nE-mail : investor_relations@riil.in\nTel. : +91 22 4477 9053\nFax : +91 22 4477 9052\nShare Transfer Agent\nKFin Technologies Private Limite+",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_key_financials",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Profit before tax: 1002.54 lakh, comprehensive income: 15572.66 lakh",
      "golden_context": "Page 39:\n\nBoard’s Report\nDear Members,\nThe Board of Directors present the Company’s Thirty Third Annual Report and the Company’s audited Financial Statements for the financial\nyear ended March 31, 2021.\nFinancial Results\nThe Company’s financial performance (standalone and consolidated) for the year ended March 31, 2021 is summarised below:\n(` in lakh)\nSTANDALONE CONSOLIDATED\n2020-21 2019-20 2020-21 2019-20\nProfit before Tax 807.69 926.01 1002.54 1104.15\nLess:\n- Current Tax 402.75 454.53 402.75 454.53\n- Deferred Tax (365.15) 37.60 (321.22) 133.31 (365.15) 37.60 (321.22) 133.31\nProfit for the Year 770.09 792.70 964.94 970.84\nAdd: Other Comprehensive Income 3655.53 (465.13) 3655.53 (465.13)\nTotal Comprehensive Income for the year 4425.62 327.57 4620.47 505.71\nAdd: Balance in Retained Earnings Account\n8317.19 8835.73 11705.19 12045.58\n(including Other Comprehensive income)\nSub-Total 12742.81 9163.30 16325.66 12551.29\nLess: Appropriation\nTransferred to General Reserve 300.00 300.00 300.00 300.00\nDividend paid on Equity Shares 453.00 453.00 453.00 453.00\nTax on Dividend on Equity Shares- 753.00 93.11 846.11- 753.00 93.11 846.11\nClosing Balance (including Other\nComprehensive income) 11989.81 8317.19 15572.66 11705.18\nFigures in brackets represent deductions\nDividend\nThe Board of Directors has recommended a dividend of ₹ 3/- (Three\nRupees only) per equity share of ₹ 10/- (Ten Rupees) each fully paid-\nup of the Company for the financial year ended March 31, 2021 (last\nyear ₹ 3/- per equity share of ₹ 10/- each fully paid-up). Dividend\nis subject to approval of members at the ensuing Annual General\nMeeting and shall be subject to deduction of income tax a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_revenue",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Revenue from operations: 5431.4 lakh",
      "golden_context": "Page 68-89:\n\nAnnual Report 2020-21\nStatement of Profit and Loss for the year ended 31st March, 2021\n(` in Lakh)\nNotes 2020-21 2019-20\nINCOME\nIncome from Services 64 09.07 95 21.59\nLess: GST Recovered 9 77.67 15 41.95\nRevenue from Operations 18 54 31.40 79 79.64\nOther Income 19 15 77.64 15 94.83\nTotal Income 70 09.04 95 74.47\nEXPENSES\nEmployee Benefits Expense 20 11 32.96 22 17.68\nDepreciation and Amortisation Expense 1 13 01.61 14 03.94\nOther Expenses 21 37 66.78 50 26.84\nTotal Expenses 62 01.35 86 48.46\nProfit Before Tax 8 07.69 9 26.01\n37.60 1 33.31\nTax Expenses\nCurrent Tax 9.1 4 02.75 4 54.53\nDeferred Tax 13 (3 65.15) (3 21.22)\nProfit for the Year 7 70.09 7 92.70\nOther Comprehensive Income\ni) Items that will not be reclassified to profit or loss\nGain/ (Loss) on Equity Investments at fair value through Other\n32 45.66 (8 85.19)\nComprehensive Income\nRemeasurement of Defined Benefit Plan 3 21.42 ( 19.56)\nii) Income tax relating to items that will not be reclassified to\nProfit or Loss (4 52.20) 1 06.19\niii) Items that will be reclassified to profit or loss\nGain/ (Loss) on debt investments at fair value through Other\n7 03.09 4 34.69\nComprehensive Income\niv) Income tax relating to items that will be reclassified to Profit\nor Loss (1 62.44) (1 01.26)\nTotal Other Comprehensive Income for the year (Net of Tax) Total Comprehensive Income for the year Earnings per equity share of face value of ` 10 each\nBasic and Diluted (in `) 22 5.10 5.25\nSignificant Accounting Policies\nSee accompanying Notes to the Financial Statement 1 to 32\n36 55.53 (4 65.13)\n44 25.62 3 27.57\nAs per our Report of even date For D T S & Associates LLP Chartered Accountants\nFirm Registration No: 142412W/W100595 For and on behalf of the board\nMahesh K. Kamdar Chairman\nChandra Raj Mehta\nSandeep H. Junnarkar Directors\nSaurabh Pamecha Bhama Krishnamurthy\nPartner A. Siddharth\nMembership No: 126551\nDate : April 14, 2021 Dilip V. Dherai Executive Director\nShailesh Dholakia Company Secretary\nKrimesh Divecha Chief Financial Officer\n67\nReliance Industrial Infrastructure Limited\nStatement of Changes in Equity for the year ended 31st March, 2021\nA. Equity Share Capital (` in Lakh)\nBalance as at\n1st April, 2019\nChanges\nduring\nthe year\n2019-20\nBalance as at\n31st March 2020\nChanges during\nthe year 2020-21\nBalance as at\n31st March, 2021\n15 10.00 - 15 10.00 - 15 10.00\nB. Other Equity (` in Lakh)\nParticulars Balance as at Total\nComprehensive\nincome for the\nyear\nTransfer to /\n(from) Retained\nEarnings\nDividend Tax on\nDividend\nBalance as at\nAs on 31st March, 2020 1st April, 2019 FY 2019-20 31st March, 2020\nReserves and Surplus\nCapital Reserve 29 52.96 - - - - 29 52.96\nSecurities Premium 9 60.00 - - - - 9 60.00\nGeneral Reserve 196 00.00 - 300.00 - - 199 00.00\nRetained Earnings 44 58.45 7 92.70 (300.00) (4 53.00) ( 93.11) 44 05.04\nOther Comprehensive Income\nEquity Instruments through OCI 44 40.97 (8 85.19) - - - 35 55.78\nRemeasurement of Defined Benefit Plan ( 49.45) 86.63 - - - 37.18\nDebt Instruments through OCI ( 14.24) 3 33.43 - - - 3 19.19\nTotal 323 48.69 3 27.57 - (4 53.00) ( 93.11) 321 30.15\n(` in Lakh)\nAs on 31st March, 2021 1st April, 2020 FY 2020-21 31st March, 2021\nReserves and Surplus\nCapital Reserve 29 52.96 - - - - 29 52.96\nSecurities Premium 9 60.00 - - - - 9 60.00\nGeneral Reserve 199 00.00 - 300.00 - - 202 00.00\nRetained Earnings 44 05.04 7 70.09 (300.00) (453.00) - 44 22.13\nOther Comprehensive Income\nEquity Instruments through OCI 35 55.78 32 45.66 - - - 68 01.44\nRemeasurement of Defined Benefit Plan 37.18 (1 30.78) - - - ( 93.60)\nDebt Instruments through OCI 3 19.19 5 40.65 - - - 8 59.84\nTotal 321 30.15 44 25.62 - (4 53.00) - 361 02.77\nAs per our Report of even date For D T S & Associates LLP Chartered Accountants\nFirm Registration No: 142412W/W100595 For and on behalf of the board\nMahesh K. Kamdar Chairman\nChandra Raj Mehta\nSandeep H. Junnarkar Directors\nSaurabh Pamecha Bhama Krishnamurthy\nPartner A. Siddharth\nMembership No: 126551\nDate : April 14, 2021 Dilip V. Dherai Executive Director\nShailesh Dholakia Company Secretary\nKrimesh Divecha Chief Financial Officer",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_revenue_growth",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue from operations: 5431.4 lakh, prior year 7979.64 lakh",
      "golden_context": "Page 68-89:\n\nAnnual Report 2020-21\nStatement of Profit and Loss for the year ended 31st March, 2021\n(` in Lakh)\nNotes 2020-21 2019-20\nINCOME\nIncome from Services 64 09.07 95 21.59\nLess: GST Recovered 9 77.67 15 41.95\nRevenue from Operations 18 54 31.40 79 79.64\nOther Income 19 15 77.64 15 94.83\nTotal Income 70 09.04 95 74.47\nEXPENSES\nEmployee Benefits Expense 20 11 32.96 22 17.68\nDepreciation and Amortisation Expense 1 13 01.61 14 03.94\nOther Expenses 21 37 66.78 50 26.84\nTotal Expenses 62 01.35 86 48.46\nProfit Before Tax 8 07.69 9 26.01\n37.60 1 33.31\nTax Expenses\nCurrent Tax 9.1 4 02.75 4 54.53\nDeferred Tax 13 (3 65.15) (3 21.22)\nProfit for the Year 7 70.09 7 92.70\nOther Comprehensive Income\ni) Items that will not be reclassified to profit or loss\nGain/ (Loss) on Equity Investments at fair value through Other\n32 45.66 (8 85.19)\nComprehensive Income\nRemeasurement of Defined Benefit Plan 3 21.42 ( 19.56)\nii) Income tax relating to items that will not be reclassified to\nProfit or Loss (4 52.20) 1 06.19\niii) Items that will be reclassified to profit or loss\nGain/ (Loss) on debt investments at fair value through Other\n7 03.09 4 34.69\nComprehensive Income\niv) Income tax relating to items that will be reclassified to Profit\nor Loss (1 62.44) (1 01.26)\nTotal Other Comprehensive Income for the year (Net of Tax) Total Comprehensive Income for the year Earnings per equity share of face value of ` 10 each\nBasic and Diluted (in `) 22 5.10 5.25\nSignificant Accounting Policies\nSee accompanying Notes to the Financial Statement 1 to 32\n36 55.53 (4 65.13)\n44 25.62 3 27.57\nAs per our Report of even date For D T S & Associates LLP Chartered Accountants\nFirm Registration No: 142412W/W100595 For and on behalf of the board\nMahesh K. Kamdar Chairman\nChandra Raj Mehta\nSandeep H. Junnarkar Directors\nSaurabh Pamecha Bhama Krishnamurthy\nPartner A. Siddharth\nMembership No: 126551\nDate : April 14, 2021 Dilip V. Dherai Executive Director\nShailesh Dholakia Company Secretary\nKrimesh Divecha Chief Financial Officer\n67\nReliance Industrial Infrastructure Limited\nStatement of Changes in Equity for the year ended 31st March, 2021\nA. Equity Share Capital (` in Lakh)\nBalance as at\n1st April, 2019\nChanges\nduring\nthe year\n2019-20\nBalance as at\n31st March 2020\nChanges during\nthe year 2020-21\nBalance as at\n31st March, 2021\n15 10.00 - 15 10.00 - 15 10.00\nB. Other Equity (` in Lakh)\nParticulars Balance as at Total\nComprehensive\nincome for the\nyear\nTransfer to /\n(from) Retained\nEarnings\nDividend Tax on\nDividend\nBalance as at\nAs on 31st March, 2020 1st April, 2019 FY 2019-20 31st March, 2020\nReserves and Surplus\nCapital Reserve 29 52.96 - - - - 29 52.96\nSecurities Premium 9 60.00 - - - - 9 60.00\nGeneral Reserve 196 00.00 - 300.00 - - 199 00.00\nRetained Earnings 44 58.45 7 92.70 (300.00) (4 53.00) ( 93.11) 44 05.04\nOther Comprehensive Income\nEquity Instruments through OCI 44 40.97 (8 85.19) - - - 35 55.78\nRemeasurement of Defined Benefit Plan ( 49.45) 86.63 - - - 37.18\nDebt Instruments through OCI ( 14.24) 3 33.43 - - - 3 19.19\nTotal 323 48.69 3 27.57 - (4 53.00) ( 93.11) 321 30.15\n(` in Lakh)\nAs on 31st March, 2021 1st April, 2020 FY 2020-21 31st March, 2021\nReserves and Surplus\nCapital Reserve 29 52.96 - - - - 29 52.96\nSecurities Premium 9 60.00 - - - - 9 60.00\nGeneral Reserve 199 00.00 - 300.00 - - 202 00.00\nRetained Earnings 44 05.04 7 70.09 (300.00) (453.00) - 44 22.13\nOther Comprehensive Income\nEquity Instruments through OCI 35 55.78 32 45.66 - - - 68 01.44\nRemeasurement of Defined Benefit Plan 37.18 (1 30.78) - - - ( 93.60)\nDebt Instruments through OCI 3 19.19 5 40.65 - - - 8 59.84\nTotal 321 30.15 44 25.62 - (4 53.00) - 361 02.77\nAs per our Report of even date For D T S & Associates LLP Chartered Accountants\nFirm Registration No: 142412W/W100595 For and on behalf of the board\nMahesh K. Kamdar Chairman\nChandra Raj Mehta\nSandeep H. Junnarkar Directors\nSaurabh Pamecha Bhama Krishnamurthy\nPartner A. Siddharth\nMembership No: 126551\nDate : April 14, 2021 Dilip V. Dherai Executive Director\nShailesh Dholakia Company Secretary\nKrimesh Divecha Chief Financial Officer",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000458_segments",
      "report_id": "ID_000458",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2021,
      "country": "IN",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "The Company is mainly engaged in ‘Infrastructure and Support Services Activities’ catering to Indian customers. All the activities of\nthe Company revolve around this main business. Accordingly, the Company has only one identifiable segment reportable under Ind\nAS 108 “Operating Segment”. ",
      "golden_context": "Page 125:\n\nthat a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing\nfinancial loss to the company. It arises from cash and cash equivalents, derivative financial instruments, deposits from financial\ninstitutions and principally from credit exposures to customers relating to outstanding receivables. The Company deals with\nhighly rated counterparties.\nThe Audited Financial Statements of Foreign Associate have been prepared in accordance with the International Financial Reporting\nStandards. The differences in accounting policies of the Company and its associate are not material and there are no material\ntransactions from 1st January, 2021 to 31st March, 2021 in respect of associate having financial year ended 31st December, 2020.\nThe Company is mainly engaged in ‘Infrastructure and Support Services Activities’ catering to Indian customers. All the activities of\nthe Company revolve around this main business. Accordingly, the Company has only one identifiable segment reportable under Ind\nAS 108 “Operating Segment”. The Executive Director (the Chief Operational Decision Maker as defined in Ind AS 108 – Operating\nSegments) monitors the operating results of the entity’s business for the purpose of making decisions about resource allocation and\nperformance assessment.\nRevenue of ₹ 52 96.86 lakh ( Previous Year ₹ 60 29.78 lakh) arose from Sale of Services to Reliance Industries Limited (Entity exercising\nsignificant influence, the largest customer). Revenue of ₹ NIL ( Previous Year ₹ 9 50.00 lakh) arose from Sale of Services to Reliance\nCorporate IT Park Limited and Revenue of ₹ NIL ( Previous Year ₹ 9 50.00 lakh) arose from Sale of Services to Reliance Projects &\nProperty Management Services Limited (Formerly Reliance Digital Platform & Project Services Limited). No other single customer\ncontributed 10% or more to the Company’s revenue for both FY 2020-21 and FY 2019-20.\nDETAILS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED DURING THE YEAR\nCOVERED UNDER SECTION 186 (4) OF THE COMPANIES ACT, 2013\ni) Loans given ₹ NIL (Previous Year ₹ NIL)\nii) Investments made are given under respective heads\niii) Guarantees given and Securities provide",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_cash_flow",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "operating: 67,491, investing: -45,315, financing: -6,035 (all in crore9",
      "golden_context": "Page 158:\n\nStatement of Cash Flow\nFor the year ended 31st March, 2022\nCorporate\nOverview\nManagement\nReview\nGovernance\nFinancial\nStatements\nStandalone\n(` in crore)\nChange in Liability Arising from Financing Activities\n2021-22 2020-21\n(` in crore)\nA. 1st April, 2021 Cash flow Foreign exchange movement / Others 31st March, 2022\nPremium on buy back of debentures 380 194\nCash Flow from Operating Activities\nNet Profit Before Tax as per Statement of Profit and Loss (After Exceptional item\nand Tax thereon) 46,786 27,212\nAdjusted for:\nBorrowing - Non-Current (including current maturities) (Refer Note 16) 1,88,546 (6,623) 3,242 1,85,165\nBorrowing - Current (Refer Note 21) 33,152 (23,754) - 9,398\nProvision for Impairment in value of investment (Net)- (16)\n2,21,698 (30,377) 3,242 1,94,563\n(Profit) / Loss on Sale / Discard of Property, Plant and Equipment (Net) 80-\n1,920 (1,238)\nDepreciation / Amortisation and Depletion Expense 10,276 9,199\n(` in crore)\nInterest Income # (12,390) (11,065)\nFinance costs 9,123 16,211\nOperating Profit before Working Capital Changes 55,134 33,186\nTrade and Other Receivables (12,639) 2,781\nInventories (9,337) 1,365\nB. 1st April, 2020 Cash flow Foreign exchange movement/ Others ^ 31st March, 2021\n^ Others includes short-term loans of ` 10,707 crore, refinanced into Long Term Loan.\nAs per our Report of even date\nFor D T S & Associates LLP\nChartered Accountants\n(Registration No.\n142412W/ W100595)\nFor S R B C & CO LLP\nChartered Accountants\n(Registration No.\n324982E/E300003)\nT P Ostwal\nPartner\nMembership No. 030848\nVikas Kumar Pansari\nPartner\nMembership No. 093649\nDate: May 06, 2022\nEffect of Exchange Rate Change Net Gain on Financial Assets # (765) (2,866)\nExceptional Item (Net of taxes)- (4,304)\nBorrowing - Non-Current (including current maturities) (Refer Note 16) 2,38,700 (53,526) 3,372 1,88,546\nDividend Income (276) (141)\nBorrowing - Current (Refer Note 21) 59,899 (18,078) (8,669) 33,152\n2,98,599 (71,604) (5,297) 2,21,698\nAdjusted for:\nTrade and Other Payables Net Cash Flow from / (Used in) Operating Activities * Cash Flow from Investing Activities\nExpenditure on Property, Plant and Equipment and Intangible Assets Proceeds from disposal of Property, Plant and Equipment and Intangible Assets 35,796 (36,154)\n30 1,147\n956 1,33,647\nCash Generated from Operations 68,954 1,178\nTaxes Paid (Net) (1,463) (1,690)\n67,491 (512)\n(18,149) (21,755)\nAlok Agarwal\nChief Financial Officer\nSrikanth Venkatachari\nJoint Chief Financial Officer\nSavithri Parekh\nCompany Secretary\nRepayment of Capex Liabilities transferred from RJIL (5) (27,743)\nInvestments in Subsidiaries (37,574) (16,147)\nDisposal of Investments in Subsidiaries For and on behalf of the Board\nM.D. Ambani Chairman and\nN.R. Meswani\nH.R. Meswani\nP.M.S. Prasad\nP.K. Kapil\nManaging Director\nExecutive Directors\nNita M. Ambani\nProf. Dipak C. Jain\nDr. R.A. Mashelkar\nAdil Zainulbhai\nRaminder Singh Gujral\nDr. Shumeet Banerji\nArundhati Bhattacharya\nHis Excellency Yasir Othman H. Al Rumayyan\nK.V. Chowdary\nNon-Executive\nDirectors\nPurchase of Other Investments (5,21,980) (4,32,492)\n5,02,224 4,34,074\nInterest Income 5,955 10,706\n22,952 (7,321)\nNet Cash Flow (Used in) / from Investing Activities Proceeds from Sale of Financial Assets Loans (given) / repaid (net) – Subsidiaries, Associates, Joint Ventures and Others 74,257\nDividend Income from Subsidiaries / Associates 275 141\nDividend Income from Others 1-\n(45,315) C. Proceeds from Issue of Equity Share Capital 5 5\nNet Proceeds from Rights Issue 39,762 13,210\nPayment of Lease Liabilities (109) (53)\nDividends Paid (4,297) (3,921)\nCash Flow from Financing Activities\nProceeds from Borrowings - Non-Current (including current maturities) Repayment of Borrowings - Non-Current (including current maturities) Borrowings - Current (Net) Net Cash Flow (Used in) Financing Activities Closing Balance of Cash and Cash Equivalents (Refer Note No. 9) 29,916 32,765\n(36,539) (86,291)\n(23,754) (18,078)\n(6,035) (76,657)\n21,714 5,573\n# Other than Financial Services Segment.\n* Includes amount spent in cash towards Corporate Social Responsibility of ` 813 crore (Previous Year ` 922 crore).\nInterest Paid (11,019) (14,294)\nNet Increase/(Decrease) in Cash and Cash Equivalents 16,141 (2,912)\nOpening Balance of Cash and Cash Equivalents 5,573 8,485\n312 313\nReliance Industries Limited\nIntegrated Annual Report 2021-22\nNotes\nto the Standalone Financial Statements for the year ended 31st March, 2022\nCorporate\nOverview\nManagement\nReview\nGovernance\nFinancial\nStatements\n-\nIt is held primarily for the purpose of trading;\n- It is due to be settled within twelve months after\nthe reporting period, or\n- There is no unconditional right to defer the\nsettlement of the liability for at least twelve\nmonths after the reporting period.\nThe Company classifies all other liabilities\nas non-current.\nDeferred tax assets and liabilities are classified as\nnon-current assets and liabilities.\n(b) Property, Plant and Equipment\nProperty, Plant and Equipment are stated at cost, net\nof recoverable taxes, trade discount and rebates less\naccumulated depreciation and impairment losses,\nif any. Such cost includes purchase price, borrowing\ncost and any cost directly attributable to bringing\nthe assets to its working condition for its intended\nuse, net charges on foreign exchange contracts and\nadjustments arising from exchange rate variations\nattributable to the assets. In case of land the\nCompany has availed fair value as deemed cost on\nthe date of transition to Ind AS.\nSubsequent costs are included in the asset’s carrying\namount or recognised as a separate asset, as\nappropriate, only when it is probable that future\neconomic benefits associated with the item will flow\nto the entity and the cost can be measured reliably.\nProperty, Plant and Equipment which are significant\nto the total cost of that item of Property, Plant and\nEquipment and having different useful life are\naccounted separately.\nOther Indirect Expenses incurred relating to\nproject, net of income earned during the project\ndevelopment stage prior to its intended use, are\nconsidered as pre-operative expenses and disclosed\nunder Capital Work-in-Progress.\nDepreciation on Property, Plant and Equipment\nis provided using written down value method on\ndepreciable amount except in case of certain assets\nof Oil to Chemicals segment which are depreciated\nusing straight line method. Depreciation is provided\nbased on useful life of the assets as prescribed in\nSchedule II to the Companies Act, 2013 except in\nrespect of the following assets, where useful life is\ndifferent than those prescribed in Schedule II;\nStandalone\nSubsequent costs are included in the asset’s\ncarrying amount or recognised as a separate asset,\nas appropriate, only when it is probable that future\neconomic benefits associated with the item will flow\nto the entity and the cost can be measured reliably.\nOther Indirect Expenses incurred relating to\nproject, net of income earned during the project\ndevelopment stage prior to its intended use,\nare considered as pre-operative expenses\nand disclosed under Intangible Assets\nUnder Development.\nGains or losses arising from derecognition of an\nIntangible Asset are measured as the difference\nbetween the net disposal proceeds and the\ncarrying amount of the asset and are recognised\nin the Statement of Profit and Loss when the asset\nis derecognised. The Company’s intangible assets\ncomprises assets with finite useful life which are\namortised on a straight-line basis over the period of\ntheir expected useful life.\nA summary of amortisation/depletion policies\napplied to the Company’s Intangible Assets to the\nextent of depreciable amount is as follows:\nParticular Amortisation / Depletion\nTechnical\nKnow-How\nOver the useful life of the\nunderlying assets ranging from 5\nyears to 35 years.\nComputer\nSoftware Over a period of 5 years.\nA. Corporate Information\nReliance Industries Limited (“the Company”) is a listed\nentity incorporated in India. The registered office of the\nCompany is located at 3rd Floor, Maker Chambers IV, 222,\nNariman Point, Mumbai - 400 021, India.\nThe Company is engaged in activities spanning\nacross hydrocarbon exploration and production, Oil to\nchemicals, retail, digital services and financial services.\nB. Significant Accounting Policies:\nB.1 Basis of Preparation and Presentation\nThe Financial Statements have been prepared\non the historical cost basis except for following\nassets and liabilities which have been measured at\nfair value amount:\ni) Certain Financial Assets and Liabilities (including",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_company_type",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\nReliance Industries Limited (RIL)\nis a Fortune 500 company\nand the largest private sector\ncorporation in India.\nWith a strongly integrated energy business and\nthe most expansive digital and retail footprint in\nthe country, RIL is India’s largest corporate value\ncreator and the highest valued company.\nRIL has always strived to positively touch lives\nand empower society. Inspired by its ethos\nof We Care, RIL has been driving inclusion,\ndemocratising connectivity and caring for the\ncommunity and environment.\nIndia’s largest company\nBY MARKET CAPITALISATION\n`17,81,841 crore\nBY REVENUE\n`7,92,756 crore\nBY NET PROFIT\n`67,845 crore\nOne of the highest contributors\nto India's economic growth\nEXPORTS\n`2,54,970 crore\nCOMMUNITY DEVELOPMENT\n`1,186 crore\nCSR contribution\nEMPLOYMENT CREATION\n2,32,822\nNew jobs created\nNote: All figures are as on/for the year ended March 31, 2022\nCorporate Overview\n2\nReliance at a Glance\n4 Stakeholder Value-creation\n6 Key Performance Indicators\n8 Chairman and Managing\nDirector's Statement\n14 We Care for an Inclusive\nEcosystem\n16 We Care for Digital\nTransformation\n18 We Care for Sustainable\nValue Creation\n20 We Care for a Greener Planet\n24 COVID-19 Response\n26 Board of Directors",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_key_financials",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 7,92,756 crore, 67845 net profit crore",
      "golden_context": "Page 2:\n\ncommunity and environment.\nIndia’s largest company\nBY MARKET CAPITALISATION\n`17,81,841 crore\nBY REVENUE\n`7,92,756 crore\nBY NET PROFIT\n`67,845 crore\nOne of the highest contributors\nto India's economic growth\nEXPORTS\n`2,54,970 crore\nCOMMUNITY DEVELOPMENT\n`1,186 crore\nCSR contribution\nEMPLOYMENT CREATION\n2,32,822\nNew jobs created\nNote: All figures are as on/for the year ended Marc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_revenue",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "7,92,756 crore",
      "golden_context": "Page 5:\n\nKey Performance Indicators\nDelivering on all Fronts\nCorporate\nOverview\nManagement\nReview\nGovernance\nFinancial\nStatements\nFinancial\nREVENUE\nPROFIT AFTER TAX\nEARNINGS PER SHARE\nDIVIDEND PER SHARE\nConsumer Business Metrics\n(Includes Retail and Digital Services business)\nEBITDA OF\nCONSUMER BUSINESS\nSHARE OF CONSUMER\nBUSINESS IN SEGMENT\nEBITDA\nREGISTERED\nCUSTOMER BASE\n- RELIANCE RETAIL\nDATA TRAFFIC\n47.0%\n`7,92,756 crore\n7,92,756\n6,59,997\n5,39,238\nFY 2019-20\nFY 2020-21\nFY 2021-22\nNET WORTH\n26.2%\n`67,845 crore\n67,845\n53,739\n39,880\nFY 2019-20\nFY 2020-21\nFY 2021-22\nBOOK VALUE PER SHARE\n20.5%\n`92.0\n92.0\n76.4\n63.1\nFY 2019-20\nFY 2020-21\nFY 2021-22\nDEBT EQUITY RATIO\n`8\n7\n8\n6.5\nFY 2019-20\nFY 2020-21\nFY 2021-22\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n`52,691 crore\n52,691\n43,877\n33,043\nFY 2019-20 FY 2020-21 FY 2021-22\nESG\nHSE EXPENDITURE\n44.4 %\n35.9\n49.5\n44.4\n24%\n193 million\n193\n156\n125\n91.4 billion GBs\n91.4\n62.5\n48.4\nFY 2019-20 FY 2020-21 FY 2021-22\nFY 2019-20 FY 2020-21 FY 2021-22\nCUMULATIVE REACH\nFY 2019-20 FY 2020-21 FY 2021-22\nPERSON-HOURS OF\nTRAINING IMPARTED\n17.7%\n`6,45,127 crore\n6,45,127\n5,48,156\n3,71,569\nFY 2019-20\nFY 2020-21\nFY 2021-22\nMARKET CAPITALISATION*\n6.1%\n`1,152.1\n1,086.4 1,152.1\n708.5\n0.75\n0.34\n0.36\n0.34\nFY 2019-20\nFY 2020-21\nFY 2021-22\nFY 2019-20\nFY 2020-21\nFY 2021-22\n`17,81,841 crore\n*as on March 31, 2022\n(` in crore)\n`1,88,012 crore\n1,88,012\n1,35,468\n1,15,461\nFY 2019-20\nFY 2020-21\nFY 2021-22\n17,81,841\n`798 crore\n798",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_revenue_growth",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "47% revenue growth",
      "golden_context": "Page 5:\n\nKey Performance Indicators\nDelivering on all Fronts\nCorporate\nOverview\nManagement\nReview\nGovernance\nFinancial\nStatements\nFinancial\nREVENUE\nPROFIT AFTER TAX\nEARNINGS PER SHARE\nDIVIDEND PER SHARE\nConsumer Business Metrics\n(Includes Retail and Digital Services business)\nEBITDA OF\nCONSUMER BUSINESS\nSHARE OF CONSUMER\nBUSINESS IN SEGMENT\nEBITDA\nREGISTERED\nCUSTOMER BASE\n- RELIANCE RETAIL\nDATA TRAFFIC\n47.0%\n`7,92,756 crore\n7,92,756\n6,59,997\n5,39,238\nFY 2019-20\nFY 2020-21\nFY 2021-22\nNET WORTH\n26.2%\n`67,845 crore\n67,845\n53,739\n39,880\nFY 2019-20\nFY 2020-21\nFY 2021-22\nBOOK VALUE PER SHARE\n20.5%\n`92.0\n92.0\n76.4\n63.1\nFY 2019-20\nFY 2020-21\nFY 2021-22\nDEBT EQUITY RATIO\n`8\n7\n8\n6.5\nFY 2019-20\nFY 2020-21\nFY 2021-22\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n`52,691 crore\n52,691\n43,877\n33,043\nFY 2019-20 FY 2020-21 FY 2021-22\nESG\nHSE EXPENDITURE\n44.4 %\n35.9\n49.5\n44.4\n24%\n193 million\n193\n156\n125\n91.4 billion GBs\n91.4\n62.5\n48.4\nFY 2019-20 FY 2020-21 FY 2021-22\nFY 2019-20 FY 2020-21 FY 2021-22\nCUMULATIVE REACH\nFY 2019-20 FY 2020-21 FY 2021-22\nPERSON-HOURS OF\nTRAINING IMPARTED\n17.7%\n`6,45,127 crore\n6,45,127\n5,48,156\n3,71,569\nFY 2019-20\nFY 2020-21\nFY 2021-22\nMARKET CAPITALISATION*\n6.1%\n`1,152.1\n1,086.4 1,152.1\n708.5\n0.75\n0.34\n0.36\n0.34\nFY 2019-20\nFY 2020-21\nFY 2021-22\nFY 2019-20\nFY 2020-21\nFY 2021-22\n`17,81,841 crore\n*as on March 31, 2022\n(` in crore)\n`1,88,012 crore\n1,88,012\n1,35,468\n1,15,461\nFY 2019-20\nFY 2020-21\nFY 2021-22\n17,81,841\n`798 crore\n798",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000459_segments",
      "report_id": "ID_000459",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2022,
      "country": "IN",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "O2C, Retail, Digital services, Oil and gas, Others",
      "golden_context": "Page 26:\n\nment Review\nREVENUE CONTRIBUTION\n(%)\n0.8\n8.3\n11.4\n56.8\n22.7\nO2C\n_x0007_ Retail\nDigital services\nOil and gas\nOthers\nRetail\nPerformance Update\nReliance Retail continues to rapidly\ngrow in scale on the back of new store\nexpansion and favourable product\nmix resulting in high operating\nleverage. The business continues to\nprovide unmatched value proposition\nand improve customer experience\nacross all store formats.\nRetail revenues grew by 26.7% Y-o-Y\nto `1,99,749 crore, segment EBITDA\ngrew by 26.2% to `12,423 crore. Despite\nchallenges posed by the pandemic,\nReliance Retail further consolidated its\nleadership position and continued to\nbe India’s largest, most profitable and\nfastest growing retailer.\nAll time high revenues were recorded\nin fashion & lifestyle and grocery\nconsumption baskets with strong\n(` in crore)\nDigital Services\n(` in crore)\nFY 2021-22 FY 2020-21 FY 2019-20\nValue of Services 1,00,161 90,287 69,605\nRevenue from operations 85,117 76,642 59,407\nEBITDA 40,268 34,035 23,348\nFY 2021-22 EBITDA Margin (%)* 47.3 44.4 39.3\nValue of Sales and Services 1,99,749 1,57,702 1,63,029\nRevenue from operations 1,75,015 1,39,136 1,46,365\nFY 2020-21 FY 2019-20\n*EBITDA Margin is calculated on revenue from operations\ngrowth momentum in consumer\nelectronics. Overall a well rounded\ngrowth driven by highest ever\nstore sales and sustained growth\nmomentum in digital and new\ncommerce channels.\nReliance Retail continued to invest in\nnetwork and infrastructure expansion\nas well as strengthening its Digital\nand New Commerce capabilities.\n•\nThe total store count stood at 15,196\ncovering 41.6 million sq.ft. at the\nend of the year\n•\nMerchant partners grew 3x Y-o-Y\nwhile digital commerce orders\ngrew 2.5x Y-o-Y. The registered\ncustomer base now stands at 193\nmillion, a growth of 24% Y-o-Y\n•\nWhile the pandemic has disrupted\nlivelihoods, Reliance Retail added\nover 1,50,000 jobs to the economy,\nwhile ensuring health and safety\nof all its employees and their\nfamilies. This included vaccination\nfor all eligible employees and their",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_cash_flow",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "operating: 48050 crore, investing: -584 crore, financing: -7369 crore",
      "golden_context": "Page 165:\n\nSTATEMENT OF CASH FLOW\nFor the year ended 31st March, 2023\n(C in crore)\nChange in Liability Arising from Financing Activities\n2022-23 2021-22\n(C in crore)\nBorrowing - Non-Current (including current maturities)\n(Refer Note 16)\n1,85,165 (15,992) 10,278 1,79,451\nBorrowing - Current (Refer Note 21) 9,398 27,696 (722) 36,372\n1,94,563 11,704 9,556 2,15,823\n1st April, 2022 Cash flow Foreign exchange\nmovement/Others 31st March, 2023\n(C in crore)\n1st April, 2021 Cash flow Foreign exchange\nmovement/ Others 31st March, 2022\nBorrowing - Non-Current (including current maturities)\n(Refer Note 16)\n1,88,546 (6,623) 3,242 1,85,165\nBorrowing - Current (Refer Note 21) 33,152 (23,754) - 9,398\n2,21,698 (30,377) 3,242 1,94,563\nAs per our Report of even date\nFor Deloitte Haskins & Sells LLP\nChartered Accountants\n(Registration No.\n117366W /W-100018)\nFor Chaturvedi & Shah LLP\nChartered Accountants\n(Registration No.\n101720W/W-100355)\nSrikanth Venkatachari\nChief Financial Officer\nAbhijit A. Damle\nPartner\nMembership No. 102912\nDate: July 21, 2023\nSandesh Ladha\nPartner\nMembership No. 047841\nSavithri Parekh\nCompany Secretary\nFor and on behalf of the Board\nM.D. Ambani\nDIN: 00001695\nN.R. Meswani H.R. Meswani\nDIN: 00001620 DIN: 00001623\nP.M.S. Prasad\nDIN: 00012144\nNita M. Ambani Adil Zainulbhai\nDIN: 03115198 DIN: 06646490\nRaminder Singh Gujral Dr. Shumeet Banerji\nDIN: 07175393 DIN: 02787784\nArundhati Bhattacharya\nDIN: 02011213\nHis Excellency Yasir Othman H. Al Rumayyan\nDIN: 09245977\nK.V. Chowdary K.V. Kamath\nDIN: 08485334 DIN: 00043501\nChairman and\nManaging Director\nExecutive Directors\n48,050 67,491\nA. Cash Flow from Operating Activities\nNet Profit Before Tax as per Statement of Profit and Loss (After Exceptional item\nand Tax thereon)\nContinuing Operations 54,133 45,396\nDiscontinued Operations 1,439 1,390\nAdjusted for:\nPremium on buy back of debentures 33 380\nLoss on Sale / Discard of Property, Plant and Equipment and Intangible Assets (Net) 33 80\nDepreciation / Amortisation and Depletion Expense of Continuing Operations 10,118 10,264\nDepreciation / Amortisation and Depletion Expense of Discontinued Operations 13 12\nEffect of Exchange Rate Change (3,174) 1,920\nNet Loss / (Gain) on Financial Assets # 1,116 (765)\nDividend Income # (92) (276)\nInterest Income # (11,060) (12,390)\nFinance costs # 12,626 9,123\nOperating Profit before Working Capital Changes 65,185 55,134\nAdjusted for:\nTrade and Other Receivables 3,508 (12,639)\nInventories (3,003) (9,337)\nTrade and Other Payables (12,725) 35,796\nCash Generated from Operations 52,965 68,954\nTaxes Paid (Net) (4,915) (1,463)\nNet Cash Flow from Operating Activities* B. Cash Flow from Investing Activities\nExpenditure on Property, Plant and Equipment and Intangible Assets (28,573) (18,154)\nProceeds from disposal of Property, Plant and Equipment and Intangible Assets 146 30\nInvestments in Subsidiaries (59,983) (37,574)\nDisposal of Investments in Subsidiaries 213 956\nPurchase of Other Investments (2,19,404) (5,21,980)\nProceeds from Sale of Financial Assets 2,78,222 5,02,224\nLoans (given) / repaid (net) – Subsidiaries, Associates, Joint Ventures and Others 19,069 22,952\nInterest Income # 9,634 5,955\nDividend Income from Subsidiaries / Associates # 92 275\nDividend Income from Others- 1\nNet Cash Used in Investing Activities (584) (45,315)\nC. Cash Flow From Financing Activities\nProceeds from Issue of Equity Share Capital- @ 5\nNet Proceeds from Rights Issue 40 39,762\nPayment of Lease Liabilities (77) (109)\nProceeds from Borrowings - Non-Current (including current maturities) 4,260 29,916\nRepayment of Borrowings - Non-Current (including current maturities) (20,252) (36,539)\nBorrowings - Current (Net) 27,696 (23,754)\nDividends Paid (5,083) (4,297)\nInterest Paid # (13,953) (11,019)\nNet Cash Used in Financing Activities (7,369) (6,035)\nNet Increase in Cash and Cash Equivalents 40,097 16,141\nOpening Balance of Cash and Cash Equivalents 21,714 5,573\nLess: On Demerger (Refer Note 44.1) 5,000-\nClosing Balance of Cash and Cash Equivalents (Refer Note No. 9) 56,811 21,714\nNon-Executive\nDirectors\n# Other than Financial Services Segment.\n* Includes amount spent in cash towards Corporate Social Responsibility of C 744 crore (Previous Year C 813 crore).\n@ C 10,00,000\n326 327\nReliance Industries Limited Integrated Annual Report 2022-23\nCorporate Overview Management Review Governance Financial Statements\nStandalone\nParticular Depreciation\nFixed Bed Catalyst (useful\nlife: 2 years or more)\nFixed Bed Catalyst (useful\nlife: up to 2 years)\nPlant and Machinery (useful\nlife: 25 to 50 years)\nBuildings (Useful life : 30 to\n65 years)\nOver its useful life as\ntechnically assessed\n100% depreciated in the\nyear of addition\nOver its useful life as\ntechnically assessed\nOver its useful life as\ntechnically assessed\n(d) Intangible Assets\nIntangible Assets are stated at cost of acquisition\nnet of recoverable taxes, trade discount and\nrebates less accumulated amortisation/depletion\nand impairment losses, if any. Such cost includes\npurchase price, borrowing costs, and any cost\ndirectly attributable to bringing the asset to\nits working condition for the intended use,\nnet charges on foreign exchange contracts\nand adjustments arising from exchange rate\nvariations attributable to the Intangible Assets.\nSubsequent costs are included in the asset’s\ncarrying amount or recognised as a separate\nasset, as appropriate, only when it is probable\nthat future economic benefits associated with the\nitem will flow to the entity and the cost can be\nmeasured reliably.\nOther Indirect Expenses incurred relating\nto project, net of income earned during\nthe project development stage prior to its\nintended use, are considered as pre-operative\nexpenses and disclosed under Intangible Assets\nUnder Development.\nGains or losses arising from derecognition of an\nIntangible Asset are measured as the difference\nbetween the net disposal proceeds and the\ncarrying amount of the asset and are recognised\nin the Statement of Profit and Loss when the\nasset is derecognised. The Company’s intangible\nassets comprises assets with finite useful life\nwhich are amortised on a straight-line basis over\nthe period of their expected useful life.\nA summary of amortisation/depletion policies\napplied to the Company’s Intangible Assets to\nthe extent of depreciable amount is as follows:\nNOTES\nto the Standalone Financial Statements for the year ended 31st March, 2023\nA. Corporate Information\nReliance Industries Limited (“the Company”) is a listed\nentity incorporated in India. The registered office of\nthe Company is located at 3rd Floor, Maker Chambers\nIV, 222, Nariman Point, Mumbai - 400 021, India.\nThe Company is engaged in activities spanning\nacross hydrocarbon exploration and production, Oil to\nChemicals, Retail and Digital Services.\nB. Significant Accounting Policies:\nB.1 Basis of Preparation and Presentation\nThe Financial Statements have been prepared on\nthe historical cost basis except for following assets\nand liabilities which have been measured at fair\nvalue amount:\ni) Certain Financial Assets and Liabilities (including\nderivative instruments),\nii) Defined Benefit Plans – Plan Assets and\niii) Equity settled Share Based Payments\nThe Financial Statements of the Company have\nbeen prepared to comply with the Indian Accounting\nstandards (‘Ind AS’), including the rules notified under\nthe relevant provisions of the Companies Act, 2013,\n(as amended from time to time) and Presentation and\ndisclosure requirements of Division II of Schedule III to\nthe Companies Act, 2013, (Ind AS Compliant Schedule\nIII) as amended from time to time.\nThe Company’s Financial Statements are presented in\nIndian Rupees (C), which is also its functional currency\nand all values are rounded to the nearest crore\n(C00,00,000), except when otherwise indicated.\nB.2 Summary of Significant Accounting\nPolicies\n(a) Current and Non-Current Classification\nThe Company presents assets and liabilities\nin the Balance Sheet based on Current/\nNon‑Current classification.\nAn asset is treated as Current when it is –\n- Expected to be realised or intended to be\nsold or consumed in normal operating cycle;\n-\nHeld primarily for the purpose of trading;\n- Expected to be realised within twelve\nmonths after the reporting period, or\n- Cash or cash equivalent unless restricted\nfrom being exchanged or used to settle a\nliability for at least twelve months after the\nreporting period.\nAll other assets are classified as non-current.\nA liability is current when:\n- It is expected to be settled in normal\noperating cycle;\n- It is held primarily for the purpose of trading;\n- It is due to be settled within twelve months\nafter the reporting period, or\n- There is no unconditional right to defer the\nsettlement of the liability for at least twelve\nmonths after the reporting period.\nThe Company classifies all other liabilities as\nnon‑current.\nDeferred tax assets and liabilities are classified as\nnon-current assets and liabilities.\n(b) Property, Plant and Equipment\nProperty, Plant and Equipment are stated at\ncost, net of recoverable taxes, trade discount\nand rebates less accumulated depreciation and\nimpairment losses, if any. Such cost includes\npurchase price, borrowing cost and any cost\ndirectly attributable to bringing the assets to\nits working condition for its intended use, net\ncharges on foreign exchange contracts and\nadjustments arising from exchange rate variations\nattributable to the assets. In case of land the\nCompany has availed fair value as deemed cost\non the date of transition to Ind AS.\nSubsequent costs are included in the asset’s\ncarrying amount or recognised as a separate\nasset, as appropriate, only when it is probable\nthat future economic benefits associated with the\nitem will flow to the entity and the cost can be\nmeasured reliably.\nProperty, Plant and Equipment which are\nsignificant to the total cost of that item of\nProperty, Plant and Equipment and having\ndifferent useful life are accounted separately.\nOther Indirect Expenses incurred relating to\nproject, net of income earned during the project\ndevelopment stage prior to its intended use,\nare considered as pre-operative expenses and\ndisclosed under Capital Work-in-Progress.\nDepreciation on Property, Plant and Equipment\nis provided using written down value method\non depreciable amount except in case of certain\nassets of Oil to Chemicals and Other segment\nwhich are depreciated using straight line method.\nDepreciation is provided based on useful life of\nthe assets as prescribed in Schedule II to the\nCompanies Act, 2013 except in respect of the\nfollowing assets, where useful life is different\nthan those prescribed in Schedule II;\nThe residual values, useful lives and methods of\ndepreciation of Property, Plant and Equipment\nare reviewed at each financial year end and\nadjusted prospectively, if appropriate.\nGains or losses arising from derecognition of a\nProperty, Plant and Equipment are measured as\nthe difference between the net disposal proceeds\nand the carrying amount of the asset and are\nrecognised in the Statement of Profit and Loss\nwhen the asset is derecognised.\n(c) Leases\nThe Company, as a lessee, recognises a\nright‑of‑use asset and a lease liability for its\nleasing arrangements, if the contract conveys the\nright to control the use of an identified asset.\nThe contract conveys the right to control the\nuse of an identified asset, if it involves the use\nof an identified asset and the Company has\nsubstantially all of the economic benefits from\nuse of the asset and has right to direct the use\nof the identified asset. The cost of the right-of-\nuse asset shall comprise of the amount of the\ninitial measurement of the lease liability adjusted\nfor any lease payments",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_company_type",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\nReliance Industries Limited (RIL) is a Fortune Global 500 company and the\nlargest private sector corporation in India. Over the last four decades, Reliance\nhas emerged as one of India’s most valuable, stakeholder-centric organisations.\nIt has built important assets for India, innovating and investing for a better future\nfor all Indians. The one unifying thread that runs through everything we have\naccomplished at Reliance is the spirit of Care and Empathy.\nIndia’s largest company\nby\nContributing\nmeaningfully to India’s\neconomic growth\nProud champion\nof Make In India\nMARKET CAPITALISATION*\nH17,72,456 CRORE\nEXPORTS\nH3,40,048 CRORE\nFORTUNE GLOBAL 500\n#88\nREVENUE\nH9,74,864 CRORE\nNEW HIRES\n2,62,558\nFORBES BEST EMPLOYER\n#20\nNET PROFIT\nH73,670 CRORE\nCSR CONTRIBUTION\nH1,271 CRORE\nAmong the largest private sector\ninvestor in capital assets in India → PAGE 42\n→ PAGE 210\n* Market Capitalisation is as on July 20, 2023, ex-demerger of financial services undertaking post price discovery thereof\nNote 1: All figures are as on/for the year ended March 31, 2023\nNote 2: All figures for FY 2022-23 are excluding financial services\nAbout this Report\nThe Reliance Integrated Annual Report has been prepared in alignment with\nthe Integrated Reporting <IR> Framework laid down by the Value Reporting\nFoundation (VRF). In preparation of the Report, GRI Standards, National\nVoluntary Guidelines (NVGs), United Nations Sustainable Development Goals\n(UN SDGs) and 13 other frameworks were referenced. The Report outlines RIL’s\ncommitment to stakeholder value creation, and defines the actions taken and\noutcomes achieved for its stakeholders.\nAttending the 46th AGM Online\nRIL invites the participation of all\nshareh",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_key_financials",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Revenue 9,74,864 crore, net profit 73670 crore",
      "golden_context": "Page 2:\n\nance’s success is\na reflection of India’s\ncapabilities, the talent of her\npeople, and the potential of\nher entrepreneurs, engineers,\nmanagers and workers.\nShri Dhirubhai H. Ambani\nFounder Chairman\nReliance Industries Limited (RIL) is a Fortune Global 500 company and the\nlargest private sector corporation in India. Over the last four decades, Reliance\nhas emerged as one of India’s most valuable, stakeholder-centric organisations.\nIt has built important assets for India, innovating and investing for a better future\nfor all Indians. The one unifying thread that runs through everything we have\naccomplished at Reliance is the spirit of Care and Empathy.\nIndia’s largest company\nby\nContributing\nmeaningfully to India’s\neconomic growth\nProud champion\nof Make In India\nMARKET CAPITALISATION*\nH17,72,456 CRORE\nEXPORTS\nH3,40,048 CRORE\nFORTUNE GLOBAL 500\n#88\nREVENUE\nH9,74,864 CRORE\nNEW HIRES\n2,62,558\nFORBES BEST EMPLOYER\n#20\nNET PROFIT\nH73,670 CRORE\nCSR CONTRIBUTION\nH1,271 CRORE\nAmong the largest private sector\ninvestor in capital assets in India → PAGE 42\n→ PAGE 210\n* Market Capitalisation is as on July 20, 2023, ex-demerger of financial services undertaking post price discovery thereof\nNote 1: All figures are as on/for the year ended March 31, 2023\nNote 2: All figures for FY 2022-23 are excluding financial services\nAbout this Report\nThe Reliance Integrated Annual Report has been prepared in alignment with\nthe Integrated Reporting <IR> Framework laid down by the Value Reporting\nFoundation (VRF). In preparation of the Report, GRI Standards, National\nVoluntary Guidelines (NVGs), United Nations Sustainable Development Goals\n(UN SDGs) and 13 other frameworks were referenced. The Report outlines RIL’s\ncommitment to stakeholder value creation, and defines the actions taken and\noutcomes achieved for its stakeholders.\nAttending the 46th AGM Online\nRIL invites the participation of all\nshareholders at its 46th Annual\nGeneral Meeting (AGM), to be\nheld on August 28, 2023.\nClick here to join.\nTABLE OF CONTENTS\nCorporate Overview\n2 Reliance at a Glance\n4 Stakeholder Value-Creation\n6 Key Performance Indicators\n8 _x0007_ Chairman and Managing\nDirector’s Statement\n_x0007_ Integrated Approach to\nSustainable Growth\n150 _x0007_ Integrated Approach to\nESG Governance\n152 _x0007_ Accelerating Progress\nTowards a Net Carbon\nZero Future\n157 Reliance’s Approach\nto TCFD\n160 _x0007_ Maximising Shared Value\n164 _x0007_ Understanding the\nMaterial Issues\n170 _x0007_ Driving ESG Growth\nin Reliance\n172 N Natural Capital\n184 H Human Capital\n196 M Manufactured Capital\n202 I Intellectual Capital\n210 S\n_x0007_ Social and\nRelationship Capital\n224 _x0007_ Independent Assurance on\nSustainability Disclosures\nGovernance\n228 _x0007_ Corporate\nGovernance Report\n278 Board’s Report\nFinancial Statements\n308 Standalone\n402 Consolidated\n12 _x0007_ We Serve – Fulfilling\nAspirations of a New India\n14 _x0007_ We Connect – Ushering in\nthe Next Phase of India’s\nDigital Revolution\n16 _x0007_ We Energise – Accelerating\nthe Green Transformation\n18 _x0007_ We Entertain – Disrupting\nthe World of Storytelling\n20 We Include – Empowering\nIndia Together\n22 _x0007_ We Enrich – A Haven for Art\nand Culture\n24 Board of Directors\n26 Key Corporate Actions\n28 Value-Creation Model\n30 Strategy\n32 ESG\n34 Startup Ecosystem\n38 10-Year Financial Highlights\nManagement Discussion\nand Analysis\n42 _x0007_ Financial Performance\nand Review\nBusiness Overview\nRetail\nDigital\nServices\nMedia and\nEntertainment\n→ PAGE 50\n→ PAGE 66\n→ PAGE 80\nOil to\nChemicals\nOil and Gas\nE&P\nNew Energy\n→ PAGE 94\n→ PAGE 116\n→ PAGE 126\n130 Risk and Governance\n144 Awards and Recognition\nOur Reporting Suite 2022-23\nOur Annual Reporting suite brings together the financial, non-financial, risk, and sustainability performance for the year.\nEthical\nAccountable\nHuman Rights\nTransparent\nResponsible\nRespect\nSafe\nWell-being\nProtect\nSustainable\nInclusive\nRestore\nEngaged\nEquitable\nResponsive\nWe Care\nFor a connected, prosperous and shared future\nAs the Amrut kaal unfolds, India\nwill witness an unprecedented\nexplosion in economic growth\nand opportunities. From a\n3 trillion-dollar economy,\nIndia will grow to become a\n40 trillion-dollar economy\nby 2047.\nShri Mukesh D. Ambani\nChairman and Managing Director\n→\nOnline Integrated Annual Report\nClick here\nBusiness Responsibility & Sustainability Report 2022-23\n→\nBusiness Responsibility &\nSustainability Report (BRSR)#\nClick here\nFinancial Inclusion\nNurture\nPreparedness\nClimate Resilience\nRelief\nDisease Management\nExcel\nWell-being\nSkilling\nRescue\nIncome Generation\nPrevention and Cure\nTraining\nCulture\nSocial Cohesion\nLivelihood Building\nCorporate Social Responsibility Report 2022-23\nWe Care\nFor a connected, prosperous and shared future",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_revenue",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Revenue 9,74,864 crore",
      "golden_context": "Page 5:\n\ncaling New Horizons\nFINANCIAL METRICS\nREVENUE\n(` crore)\n↗ 23.6%\nPROFIT AFTER TAX\n(` crore)\nE S G METRICS\nNUMBER OF PATENTS GRANTED\n↗ 11.3%\nMARKET CAPITALISATION\n(` crore)\n141\nHSE EXPENDITURE\n(` crore)\nH9,74,864 CRORE\nH73,670 CRORE\nH15,77,093 CRORE\n9,74,864\n73,670\nFY 2022-23\nFY 2022-23 FY 2022-23\n7,88,743\n66,184\nFY 2021-22\nFY 2021-22 FY 2021-22\n5,39,238\n53,739\n15,77,093\n17,81,841\n13,15,998\nFY 2020-21\nFY 2020-21 FY 2020-21\nStrong revenue growth led by high energy prices\nand robust growth in consumer businesses.\nRecord net profit led by strong operating\nperformance partially offset by higher\nfinance cost, depreciation and taxes.\nNote: Market Capitalisation as on July 20, 2023,\nex-demerger of financial services undertaking post\nprice discovery thereof is J17,72,456 crore\nEARNINGS PER SHARE\nDIVIDEND PER SHARE\n(`)\n↗ 9.5%\n(`)\n↗ 12.5%\nREGISTERED CUSTOMER BASE\nRELIANCE RETAIL\n(million)\n↗ 29%\nH98.0\nH9\n98.0 9\nFY 2022-23 FY 2022-23\n89.5 8\nFY 2021-22 FY 2021-22\n76.4 7\nFY 2020-21 FY 2020-21\nStrong operating performance with all businesses\ncontributing to earnings growth.\nNET WORTH\n(` crore)\n↗ 3.7%\nConsistent track record of increasing dividend\nyear on year.\nBOOK VALUE PER SHARE\n(`)\nH987 CRORE\nFY 2022-23\nFY 2021-22\nFY 2020-21\nCUMULATIVE REACH OF\nRELIANCE FOUNDATION\n(crore people)\n987\n798\n592\n249\n193\n156\n113.3 BILLION GBs\nFY 2022-23\nFY 2021-22\nFY 2020-21\nO2C EXPORTS\n(` crore)\n113.3\n91.4\n62.5\n249 MILLION\nFY 2022-23\nFY 2021-22\nFY 2020-21\nDATA TRAFFIC\n↘ 8.2% ↗ 24%\n(billion GBs)\nH6,68,880 CRORE\nH1,058\n6,68,880\nFY 2022-23 FY 2022-23\n6,45,127\nFY 2021-22 FY 2021-22\n5,48,156\nFY 2020-21\n1,058\n1,152\n1,086\nFY 2020-21\nHigher retained earnings led to Y-o-Y increase in\nnet worth.\nDecrease in book value per share due to demerger\nof Financial Services undertaking.\nDEBT EQUITY RATIO\nCONTRIBUTION TO NATIONAL EXCHEQUER\n(` crore)\n0.44\nH1,77,173 CRORE\n0.44 1,77,173\nFY 2022-23 FY 2022-23\n0.34 1,88,012\nFY 2021-22 FY 2021-22\n0.36 1,35,468\nFY 2020-21\nFY 2020-21\n175.3 BCFe\n3,39,811\n175.3\nFY 2022-23\n2,54,766\n160.2\nFY 2021-22\n1,45,143\nThe debt to equity ratio impacted by higher debt\nmainly due to working capital and translation\nimpact on foreign currency liabilities.\nRIL retained its position as one of the India’s\nlargest taxpayer and also the leading contributor\nof customs and excise duty in the private sector.\n126.6\nFY 2020-21\n6 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_revenue_growth",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue growth 23.6%",
      "golden_context": "Page 5:\n\ncaling New Horizons\nFINANCIAL METRICS\nREVENUE\n(` crore)\n↗ 23.6%\nPROFIT AFTER TAX\n(` crore)\nE S G METRICS\nNUMBER OF PATENTS GRANTED\n↗ 11.3%\nMARKET CAPITALISATION\n(` crore)\n141\nHSE EXPENDITURE\n(` crore)\nH9,74,864 CRORE\nH73,670 CRORE\nH15,77,093 CRORE\n9,74,864\n73,670\nFY 2022-23\nFY 2022-23 FY 2022-23\n7,88,743\n66,184\nFY 2021-22\nFY 2021-22 FY 2021-22\n5,39,238\n53,739\n15,77,093\n17,81,841\n13,15,998\nFY 2020-21\nFY 2020-21 FY 2020-21\nStrong revenue growth led by high energy prices\nand robust growth in consumer businesses.\nRecord net profit led by strong operating\nperformance partially offset by higher\nfinance cost, depreciation and taxes.\nNote: Market Capitalisation as on July 20, 2023,\nex-demerger of financial services undertaking post\nprice discovery thereof is J17,72,456 crore\nEARNINGS PER SHARE\nDIVIDEND PER SHARE\n(`)\n↗ 9.5%\n(`)\n↗ 12.5%\nREGISTERED CUSTOMER BASE\nRELIANCE RETAIL\n(million)\n↗ 29%\nH98.0\nH9\n98.0 9\nFY 2022-23 FY 2022-23\n89.5 8\nFY 2021-22 FY 2021-22\n76.4 7\nFY 2020-21 FY 2020-21\nStrong operating performance with all businesses\ncontributing to earnings growth.\nNET WORTH\n(` crore)\n↗ 3.7%\nConsistent track record of increasing dividend\nyear on year.\nBOOK VALUE PER SHARE\n(`)\nH987 CRORE\nFY 2022-23\nFY 2021-22\nFY 2020-21\nCUMULATIVE REACH OF\nRELIANCE FOUNDATION\n(crore people)\n987\n798\n592\n249\n193\n156\n113.3 BILLION GBs\nFY 2022-23\nFY 2021-22\nFY 2020-21\nO2C EXPORTS\n(` crore)\n113.3\n91.4\n62.5\n249 MILLION\nFY 2022-23\nFY 2021-22\nFY 2020-21\nDATA TRAFFIC\n↘ 8.2% ↗ 24%\n(billion GBs)\nH6,68,880 CRORE\nH1,058\n6,68,880\nFY 2022-23 FY 2022-23\n6,45,127\nFY 2021-22 FY 2021-22\n5,48,156\nFY 2020-21\n1,058\n1,152\n1,086\nFY 2020-21\nHigher retained earnings led to Y-o-Y increase in\nnet worth.\nDecrease in book value per share due to demerger\nof Financial Services undertaking.\nDEBT EQUITY RATIO\nCONTRIBUTION TO NATIONAL EXCHEQUER\n(` crore)\n0.44\nH1,77,173 CRORE\n0.44 1,77,173\nFY 2022-23 FY 2022-23\n0.34 1,88,012\nFY 2021-22 FY 2021-22\n0.36 1,35,468\nFY 2020-21\nFY 2020-21\n175.3 BCFe\n3,39,811\n175.3\nFY 2022-23\n2,54,766\n160.2\nFY 2021-22\n1,45,143\nThe debt to equity ratio impacted by higher debt\nmainly due to working capital and translation\nimpact on foreign currency liabilities.\nRIL retained its position as one of the India’s\nlargest taxpayer and also the leading contributor\nof customs and excise duty in the private sector.\n126.6\nFY 2020-21\n6 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000460_segments",
      "report_id": "ID_000460",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2023,
      "country": "IN",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "The Group has four principal operating and reporting segments; viz. Oil To Chemicals (O2C), Oil and Gas, Retail and Digital Services Financial services segment has been demerged w.e.f 31st March 2023. (Refer Note 44).",
      "golden_context": "Page 247:\n\nto the Consolidated Financial Statements for the year ended 31st March, 2023\n39. Segment Information\nDigital Services.\nThe Group has four principal operating and reporting segments; viz. Oil To Chemicals (O2C), Oil and Gas, Retail and\nFinancial services segment has been demerged w.e.f 31st March 2023. (Refer Note 44).\nThe accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following\nadditional policies for segment reporting.\na) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment.\nRevenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have\nbeen disclosed as “Unallocable”.\nb) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Investments, tax related\nassets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as\n“Unallocable”.\n(I) Primary Segment Information\n(C in crore)\n2021-22 O2C ** Oil and Gas Retail ** Digital\nServices\nFinancial\nServices ** Others Unallocable Total\n(C in crore)\n2022-23 1 Segment Revenue\nExternal Turnover 4,99,662 4,962 1,95,654 27,090 - 61,375 - 7,88,743\nInter Segment Turnover 1,237 2,530 4,073 73,076 - 6,751 - -\nValue of Sales and Services\n(Revenue) *\n5,00,899 7,492 1,99,727 1,00,166 - 68,126 - 7,88,743\nLess: GST Recovered 20,580 10 24,734 15,044 - 10,740 - 71,108\nRevenue from Operations\n(Net of GST)\n4,80,319 7,482 1,74,993 85,122 - 57,386 - 7,17,635\n2 Segment Result before\nInterest and Taxes\n45,194 2,879 10,198 25,150 - 5,196 (5,619) 82,998\nFinance Cost (14,584)\nInterest Income 10,904\nProfit Before Tax and\nExceptional Items\n79,318\nExceptional Item (Net of Tax)\n(Refer Note 31)\n2,836\nProfit Before Tax 82,154\nCurrent Tax (2,837)\nDeferred Tax (13,133)\nProfit after Tax (before adjustment\nfor Non-Controlling Interest) from\ncontinuing operations\nProfit after Tax (before\nadjustment for Non-Controlling\nInterest) from discontinued\noperations\nShare of (Profit) / Loss transferred\nto Non-Controlling Interest\nProfit after Tax (after adjustment\nfor Non-Controlling Interest)\n3 Other Information\nSegment Assets 3,64,426 34,938 1,24,736 3,71,800 1,08,597 1,61,068 3,34,100 14,99,665\nSegment Liabilities 59,230 10,899 36,031 1,17,914 190 24,395 12,51,006 14,99,665\nCapital Expenditure 7,913 5,520 29,873 36,864 46 13,606 5,650 99,472\nSpectrum - - - 45,880 - - - 45,880\nDepreciation/ Amortisation and\nDepletion Expense\n7,528 2,578 2,225 15,118 - 1,942 391 29,782\n* Total Value of Sales and Services is after elimination of inter segment turnover of C 87,667 crore.\n** Segment results includes Interest income / Other Income pertaining to the respective segments.\n(II) Inter segment pricing are at Arm’s length basis.\n(III) As per Indian Accounting Standard 108 - Operating Segments, the Company has reported segment information on\nconsolidated basis including businesses conducted through its subsidiaries.\n(IV) * Total Value of Sales and Services is after elimination of inter segment turnover of C 1,04,934 crore.\n** Segment results includes Interest income / Other Income pertaining to the respective segments.\nThe reportable segments are further described below:\n- The Oil to Chemicals business includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited,\naviation fuel and bulk wholesale marketing. It includes breadth of portfolio spanning transportation fuels, polymers,\npolyesters and elastomers. The deep and unique integration of O2C business includes world-class assets comprising\nRefinery Off-Gas Cracker, Aromatics, Gasification, multi-feed and gas crackers along with downstream manufacturing\nfacilities, logistics and supply-chain infrastructure.\n490 491\nReliance Industries Limited Integrated Annual Report 2022-23\nO2C ** Oil and Gas Retail ** Digital\nServices Others Unallocable Total\n1 Segment Revenue\nExternal Turnover 5,93,319 10,578 2,55,457 35,758 79,752 - 9,74,864\nInter Segment Turnover 1,331 5,930 4,937 84,033 8,703 - -\nValue of Sales and Services (Revenue) * 5,94,650 16,508 2,60,394 1,19,791 88,455 - 9,74,864\nLess: GST Recovered 23,425 14 29,443 17,830 12,841 - 83,553\nRevenue from\nOperations (Net of GST)\n2 Segment Result before\nInterest and Taxes\n5,71,225 16,494 2,30,951 1,01,961 75,614 - 8,91,311\n53,883 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_cash_flow",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 73998 crore, investing: -38292 crore, financing: -27465 crore",
      "golden_context": "Page 3:\n\nEmpowering Every Indian, Every Day\nFinancial Metrics\nRetail\nPage 15\nProfit & Loss\nREVENUE\n(C crore) 2.6%\n₹10,00,122 Crore\nUS$ 119.9 Billion\nFY 2023-24 FY 2022-23 FY 2021-22 10,00,122 9,74,864 7,88,743 Strong revenue growth, supported\nby continued growth momentum\nin consumer businesses and\nupstream business.\nIndia’s foremost retailer with industry-leading reach, revenue, and profitability\noperating an integrated network of stores and digital commerce platforms.\nConsumption Baskets\nPROFIT AFTER TAX\n(C crore) 7.3%\n₹79,020 Crore\nUS$ 9.5 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n79,020\n73,670\n66,184\nRecord net profit, led by strong\noperational performance across\nall businesses.\nEARNINGS PER SHARE\n(C) 5.0%\n₹102.9\nFY 2023-24\nFY 2022-23\nFY 2021-22\n102.9\n98.0\n89.5\nStrong operating performance,\nwith all businesses contributing to\nearnings growth.\nConsumer Electronics, Grocery, Fashion and Lifestyle and Connectivity\nDigital Services\nIndia’s premier digital services provider, catering to over 480 million subscribers\nwith the most extensive fixed-mobile converged platform, and digital solutions.\nEcosystem Platforms\nConnectivity and Cloud, Digital Commerce, Media/Gaming, Education,\nAgriculture, eGovernance, and Healthcare\nMedia and Entertainment\nBalance Sheet\nNET WORTH\n(C crore) 11.1%\n₹7,42,922 Crore\nUS$ 89.1 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n7,42,922\n6,68,880\n6,45,127\nHigher retained earnings led to Y-o-Y\nincrease in net worth.\nA media powerhouse, captivating millions nationwide daily through its\nomni‑channel presence.\nNews, Entertainment, Sports, Content Production\nTelevision, OTT, Digital platforms, Cinemas, and On-ground Events\nValuation Metric\nBOOK VALUE PER SHARE\n(C) 10.9%\n₹1,173\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,173\n1,058\n1,152\nBook value per share increased year\non year due to increase in reserves\nand surplus.\nREVENUE 17.8%\n₹3,06,848 Crore\nUS$ 36.8 Billion\nEBITDA 28.4%\n₹23,082 Crore\nUS$ 2.8 Billion\nPage 18\nREVENUE 11.0%\n₹1,32,938 Crore\nUS$ 15.9 Billion\nEBITDA 12.7%\n₹56,697 Crore\nUS$ 6.8 Billion\nPage 21\nREVENUE 49.0%\n₹10,826 Crore\nUS$ 1.3 Billion\nEBITDA 86.0%\n₹33 Crore\nUS$ 4 Million\nPage 24\nREVENUE 5.0%\n₹5,64,749 Crore\nUS$ 67.7 Billion\nEBITDA 0.5%\n₹62,393 Crore\nUS$ 7.5 Billion\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n(C crore)\n₹1,86,440 Crore\nUS$ 22.4 Billion\nPage 27\nREVENUE 48.0%\n₹24,439 Crore\nUS$ 2.9 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,86,440\n1,77,173\n1,88,012\nEBITDA 48.6%\n₹20,191 Crore\nUS$ 2.4 Billion\nRIL retained its position as one of\nIndia’s largest corporate tax-payer,\nand also the leading contributor of\nindirect taxes in the private sector.\nNew Energy Page 29\nBuilding the world’s most modular, large-scale, affordable, and modern Green\nEnergy business – crucial to RIL’s Net Carbon Zero goal by 2035.\nNote: All Revenue and EBITDA figures are for the year ended March 31, 2024\n2 3\nReliance Industries Limited Integrated Annual Report 2023-24\nDEBT EQUITY RATIO\n(times)\n0.41\nFY 2023-24\nFY 2022-23\nFY 2021-22\nDecrease in debt to equity ratio\ndue to lower debt and growth in\nretained earnings.\n0.41\n0.44\n0.34\nCURRENT RATIO\n(times)\n1.18\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1.18\n1.07\n1.34\nCurrent ratio rose due to decreased\nshort-term borrowings and increased\ncash, signalling improved liquidity.\nOil to Chemicals\nA global leader in Oil to Chemicals operations, delivering high-spec fuels and\nmaterials, focused on enhancing integration and producing premium chemicals\nand green materials.\nProducts\nTransportation Fuels and Dow",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_company_type",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 142:\n\n38. Segment Information\nThe Group has four principal operating and reporting segments; viz. Oil To Chemicals (O2C), Oil and Gas, Retail and Digital Services.\nFinancial Services segment has been demerged w.e.f 31st March 2023. (Refer Note 43).\nThe accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following\nadditional policies for segment reporting.\na) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment.\nRevenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been\ndisclosed as “Unallocable”.\nb) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Investments, tax related\nassets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as\n“Unallocable”.\n(I) Primary Segment Information\n(C in crore)\n2023-24 Trade Payables\nBorrowings\nHedged Items\n(C in crore)\nParticulars Nominal Value Changes in\nFair Value Hedge Reserve Line Item in\nBalance Sheet\nAs at 31st March, 2024\nForeign Currency Risk\nHighly Probable Forecasted Exports 1,62,954 2,777 (15,564) Other Equity\nForeign Currency Borrowings 30,412 265 (119) Non-current\nBorrowings\nInterest accrued but not due on Foreign\n21 - (0) Other Financial\nCurrency Borrowings\nLiabilities\nFuture Interest liability on Foreign Currency\n229 - (1) Other Financial\nBorrowings\nLiabilities\nInterest Rate Risk\nBorrowings 4,003 71 (51) Other Equity\nAs at 31st March, 2023\nForeign Currency Risk\nHighly Probable Forecasted Exports 1,45,921 11,029 (14,566) Other Equity\n79,020\nC. Movement in Cash Flow Hedge\n(C in crore)\nSr.\nNo. Particulars 2023-24 O2C ** Oil and Gas Retail ** Digital\nServices Others Unallocable Total\n1 Segment Revenue\nExternal Turnover 5,63,608 18,341 3,02,835 41,663 73,675 - 10,00,122\nInter Segment Turnover 1,141 6,098 4,013 91,275 6,841 - -\nValue of Sales and Services (Revenue) * 5,64,749 24,439 3,06,848 1,32,938 80,516 - 10,00,122\nLess: GST Recovered 20,842 108 33,717 19,763 11,220 - 85,650\nRevenue from Operations (Net of GST) 5,43,907 24,331 2,73,131 1,13,175 69,296 - 9,14,472\n2 Segment Result before\n53,617 14,831 17,498 33,124 1,387 (2,187) 1,18,270\nInterest and Taxes\nFinance Cost (23,118)\nInterest Income 9,575\nProfit Before Tax 1,04,727\nCurrent Tax",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_key_financials",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "REvenue 10,00,122 crore, profit after tax 79,020 crore, EPS 102.9",
      "golden_context": "Page 3:\n\nReliance at a Glance\nEmpowering Every Indian, Every Day\nFinancial Metrics\nRetail\nPage 15\nProfit & Loss\nREVENUE\n(C crore) 2.6%\n₹10,00,122 Crore\nUS$ 119.9 Billion\nFY 2023-24 FY 2022-23 FY 2021-22 10,00,122 9,74,864 7,88,743 Strong revenue growth, supported\nby continued growth momentum\nin consumer businesses and\nupstream business.\nIndia’s foremost retailer with industry-leading reach, revenue, and profitability\noperating an integrated network of stores and digital commerce platforms.\nConsumption Baskets\nPROFIT AFTER TAX\n(C crore) 7.3%\n₹79,020 Crore\nUS$ 9.5 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n79,020\n73,670\n66,184\nRecord net profit, led by strong\noperational performance across\nall businesses.\nEARNINGS PER SHARE\n(C) 5.0%\n₹102.9\nFY 2023-24\nFY 2022-23\nFY 2021-22\n102.9\n98.0\n89.5\nStrong operating performance,\nwith all businesses contributing to\nearnings growth.\nConsumer Electronics, Grocery, Fashion and Lifestyle and Connectivity\nDigital Services\nIndia’s premier digital services provider, catering to over 480 million subscribers\nwith the most extensive fixed-mobile converged platform, and digital solutions.\nEcosystem Platforms\nConnectivity and Cloud, Digital Commerce, Media/Gaming, Education,\nAgriculture, eGovernance, and Healthcare\nMedia and Entertainment\nBalance Sheet\nNET WORTH\n(C crore) 11.1%\n₹7,42,922 Crore\nUS$ 89.1 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n7,42,922\n6,68,880\n6,45,127\nHigher retained earnings led to Y-o-Y\nincrease in net worth.\nA media powerhouse, captivating millions nationwide daily through its\nomni‑channel presence.\nNews, Entertainment, Sports, Content Production\nTelevision, OTT, Digital platforms, Cinemas, and On-ground Events\nValuation Metric\nBOOK VALUE PER SHARE\n(C) 10.9%\n₹1,173\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,173\n1,058\n1,152\nBook value per share increased year\non year due to increase in reserves\nand surplus.\nREVENUE 17.8%\n₹3,06,848 Crore\nUS$ 36.8 Billion\nEBITDA 28.4%\n₹23,082 Crore\nUS$ 2.8 Billion\nPage 18\nREVENUE 11.0%\n₹1,32,938 Crore\nUS$ 15.9 Billion\nEBITDA 12.7%\n₹56,697 Crore\nUS$ 6.8 Billion\nPage 21\nREVENUE 49.0%\n₹10,826 Crore\nUS$ 1.3 Billion\nEBITDA 86.0%\n₹33 Crore\nUS$ 4 Million\nPage 24\nREVENUE 5.0%\n₹5,64,749 Crore\nUS$ 67.7 Billion\nEBITDA 0.5%\n₹62,393 Crore\nUS$ 7.5 Billion\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n(C crore)\n₹1,86,440 Crore\nUS$ 22.4 Billion\nPage",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_revenue",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Revenue 10,00,122 crore",
      "golden_context": "Page 70:\n\nStatement of Cash Flow\nFor the year ended 31st March, 2024\n2023-24 2022-23\nA. B. C. (C in crore)\nCash Flow from Operating Activities\nNet Profit Before Tax as per Statement of Profit and Loss\nContinuing Operations 55,273 54,118\nDiscontinued Operations - 1,439\nAdjusted for:\nPremium on buy back of debentures - 33\nLoss on Sale / Discard of Property, Plant and Equipment and Intangible Assets (Net) Depreciation / Amortisation and Depletion Expense of Continuing Operations 113 17,690 33\n11,167\nDepreciation / Amortisation and Depletion Expense of Discontinued Operations - 13\nEffect of Exchange Rate Change (1,307) (3,174)\nNet (Gain) / Loss on Financial Assets (372) 1,116#\nDividend Income (59) (92)#\nInterest Income (9,349) (10,975)#\nFinance costs 13,430 12,633#\nOperating Profit before Working Capital Changes 75,419 66,311\nAdjusted for:\nTrade and Other Receivables 9,930 (3,068)\nInventories (344) (2,938)\nTrade and Other Payables (1,761) (36)\nCash Generated from Operations 83,244 60,269\nTaxes Paid (Net) (9,246) (4,929)\nNet Cash Flow from Operating Activities * 73,998 55,340\nCash Flow from Investing Activities\nExpenditure on Property, Plant and Equipment and Intangible Assets (34,258) (29,324)\nProceeds from disposal of Property, Plant and Equipment and Intangible Assets 62 146\nInvestments in Subsidiaries and Joint Ventures (40,506) (59,983)\nDisposal of Investments in Subsidiaries 4,305 213\nPurchase of Other Investments (3,75,590) (2,19,404)\nProceeds from Sale of Financial Assets 3,94,803 2,78,222\nLoans repaid – Subsidiaries, Associates, Joint Ventures and Others 2,975 12,573\nInterest Income 9,858 9,640#\nDividend Income from Subsidiaries / Associates 59 92#\nNet Cash Used in Investing Activities Cash Flow From Financing Activities\nProceeds from Issue of Equity Share Capital @ - -\nNet Proceeds from Rights Issue 7 40\nPayment of Lease Liabilities (98) (77)\nProceeds from Borrowings - Non-Current (including current maturities) 38,592 4,260\nRepayment of Borrowings - Non-Current (including current maturities) (23,930) (20,252)\nBorrowings - Current (Net) (19,074) 27,696\nDividend Paid (6,089) (5,083)\nInterest Paid (16,873) (13,953)#\nNet Cash Used in Financing Activities Net Increase in Cash and Cash Equivalents 8,241 40,146\nOpening Balance of Cash and Cash Equivalents 61,007 21,714\nAdd: On Merger (Refer Note 42.1)- 4,147\nLess: On Demerger (Refer Note 42.2)- 5,000\nClosing Balance of Cash and Cash Equivalents (Refer Note 9) 69,248 61,007\nChange in Liability Arising from Financing Activities\n(C in crore)\n1st April, 2023 Cash flow Foreign exchange\nmovement/Others 31st March, 2024\nBorrowing - Non-Current (including current maturities)\n(Refer Note 16)\n1,85,165 (15,992) 10,278 1,79,451\nBorrowing - Current (Refer Note 21) 9,398 27,696 (722) 36,372\n1,94,563 11,704 9,556 2,15,823\nAs per our Report of even date\nFor Deloitte Haskins & Sells LLP\nChartered Accountants\n(Registration No.\n117366W/W-100018)\nAbhijit A. Damle\nPartner\nMembership No. 102912\nDate: April 22, 2024\nBorrowing - Non-Current (including current maturities)\n(Refer Note 16)\n1,79,451 14,662 379 1,94,492\nBorrowing - Current (Refer Note 21) 36,372 (19,074) - 17,298\n2,15,823 (4,412) 379 2,11,790\n(C in crore)\n1st April, 2022 Cash flow Foreign exchange\nmovement/Others 31st March, 2023\nFor and on behalf of the Board\nM.D. Ambani\nDIN: 00001695\nN.R. Meswani H.R. Meswani\nDIN: 00001620 DIN: 00001623\nP.M.S. Prasad\nDIN: 00012144\nAkash M. Ambani Isha M. Ambani\nDIN: 06984194 DIN: 06984175\nAnant M. Ambani Raminder Singh Gujral\nDIN: 07945702 DIN: 07175393\nDr. Shumeet Banerji Arundhati Bhattacharya\nDIN: 02787784 DIN: 02011213\nK.V. Chowdary K.V. Kamath\nDIN: 08485334 DIN: 00043501\nHaigreve Khaitan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_revenue_growth",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue growth of 2.6%",
      "golden_context": "Page 3:\n\nEmpowering Every Indian, Every Day\nFinancial Metrics\nRetail\nPage 15\nProfit & Loss\nREVENUE\n(C crore) 2.6%\n₹10,00,122 Crore\nUS$ 119.9 Billion\nFY 2023-24 FY 2022-23 FY 2021-22 10,00,122 9,74,864 7,88,743 Strong revenue growth, supported\nby continued growth momentum\nin consumer businesses and\nupstream business.\nIndia’s foremost retailer with industry-leading reach, revenue, and profitability\noperating an integrated network of stores and digital commerce platforms.\nConsumption Baskets\nPROFIT AFTER TAX\n(C crore) 7.3%\n₹79,020 Crore\nUS$ 9.5 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n79,020\n73,670\n66,184\nRecord net profit, led by strong\noperational performance across\nall businesses.\nEARNINGS PER SHARE\n(C) 5.0%\n₹102.9\nFY 2023-24\nFY 2022-23\nFY 2021-22\n102.9\n98.0\n89.5\nStrong operating performance,\nwith all businesses contributing to\nearnings growth.\nConsumer Electronics, Grocery, Fashion and Lifestyle and Connectivity\nDigital Services\nIndia’s premier digital services provider, catering to over 480 million subscribers\nwith the most extensive fixed-mobile converged platform, and digital solutions.\nEcosystem Platforms\nConnectivity and Cloud, Digital Commerce, Media/Gaming, Education,\nAgriculture, eGovernance, and Healthcare\nMedia and Entertainment\nBalance Sheet\nNET WORTH\n(C crore) 11.1%\n₹7,42,922 Crore\nUS$ 89.1 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n7,42,922\n6,68,880\n6,45,127\nHigher retained earnings led to Y-o-Y\nincrease in net worth.\nA media powerhouse, captivating millions nationwide daily through its\nomni‑channel presence.\nNews, Entertainment, Sports, Content Production\nTelevision, OTT, Digital platforms, Cinemas, and On-ground Events\nValuation Metric\nBOOK VALUE PER SHARE\n(C) 10.9%\n₹1,173\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,173\n1,058\n1,152\nBook value per share increased year\non year due to increase in reserves\nand surplus.\nREVENUE 17.8%\n₹3,06,848 Crore\nUS$ 36.8 Billion\nEBITDA 28.4%\n₹23,082 Crore\nUS$ 2.8 Billion\nPage 18\nREVENUE 11.0%\n₹1,32,938 Crore\nUS$ 15.9 Billion\nEBITDA 12.7%\n₹56,697 Crore\nUS$ 6.8 Billion\nPage 21\nREVENUE 49.0%\n₹10,826 Crore\nUS$ 1.3 Billion\nEBITDA 86.0%\n₹33 Crore\nUS$ 4 Million\nPage 24\nREVENUE 5.0%\n₹5,64,749 Crore\nUS$ 67.7 Billion\nEBITDA 0.5%\n₹62,393 Crore\nUS$ 7.5 Billion\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n(C crore)\n₹1,86,440 Crore\nUS$ 22.4 Billion\nPage 27\nREVENUE 48.0%\n₹24,439 Crore\nUS$ 2.9 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,86,440\n1,77,173\n1,88,012\nEBITDA 48.6%\n₹20,191 Crore\nUS$ 2.4 Billion\nRIL retained its position as one of\nIndia’s largest corporate tax-payer,\nand also the leading contributor of\nindirect taxes in the private sector.\nNew Energy Page 29\nBuilding the world’s most modular, large-scale, affordable, and modern Green\nEnergy business – crucial to RIL’s Net Carbon Zero goal by 2035.\nNote: All Revenue and EBITDA figures are for the year ended March 31, 2024\n2 3\nReliance Industries Limited Integrated Annual Report 2023-24\nDEBT EQUITY RATIO\n(times)\n0.41\nFY 2023-24\nFY 2022-23\nFY 2021-22\nDecrease in debt to equity ratio\ndue to lower debt and growth in\nretained earnings.\n0.41\n0.44\n0.34\nCURRENT RATIO\n(times)\n1.18\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1.18\n1.07\n1.34\nCurrent ratio rose due to decreased\nshort-term borrowings and increased\ncash, signalling improved liquidity.\nOil to Chemicals\nA global leader in Oil to Chemicals operations, delivering high-spec fuels and\nmaterials, focused on enhancing integration and producing premium chemicals\nand green materials.\nProducts\nTransportation Fuels and Dow",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000461_segments",
      "report_id": "ID_000461",
      "company_name": "Reliance Industrial Infrastructure",
      "year": 2024,
      "country": "IN",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "Oil To Chemicals (O2C), Oil and Gas, Retail and Digital Services. Financial Services ",
      "golden_context": "Page 3:\n\nEmpowering Every Indian, Every Day\nFinancial Metrics\nRetail\nPage 15\nProfit & Loss\nREVENUE\n(C crore) 2.6%\n₹10,00,122 Crore\nUS$ 119.9 Billion\nFY 2023-24 FY 2022-23 FY 2021-22 10,00,122 9,74,864 7,88,743 Strong revenue growth, supported\nby continued growth momentum\nin consumer businesses and\nupstream business.\nIndia’s foremost retailer with industry-leading reach, revenue, and profitability\noperating an integrated network of stores and digital commerce platforms.\nConsumption Baskets\nPROFIT AFTER TAX\n(C crore) 7.3%\n₹79,020 Crore\nUS$ 9.5 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n79,020\n73,670\n66,184\nRecord net profit, led by strong\noperational performance across\nall businesses.\nEARNINGS PER SHARE\n(C) 5.0%\n₹102.9\nFY 2023-24\nFY 2022-23\nFY 2021-22\n102.9\n98.0\n89.5\nStrong operating performance,\nwith all businesses contributing to\nearnings growth.\nConsumer Electronics, Grocery, Fashion and Lifestyle and Connectivity\nDigital Services\nIndia’s premier digital services provider, catering to over 480 million subscribers\nwith the most extensive fixed-mobile converged platform, and digital solutions.\nEcosystem Platforms\nConnectivity and Cloud, Digital Commerce, Media/Gaming, Education,\nAgriculture, eGovernance, and Healthcare\nMedia and Entertainment\nBalance Sheet\nNET WORTH\n(C crore) 11.1%\n₹7,42,922 Crore\nUS$ 89.1 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n7,42,922\n6,68,880\n6,45,127\nHigher retained earnings led to Y-o-Y\nincrease in net worth.\nA media powerhouse, captivating millions nationwide daily through its\nomni‑channel presence.\nNews, Entertainment, Sports, Content Production\nTelevision, OTT, Digital platforms, Cinemas, and On-ground Events\nValuation Metric\nBOOK VALUE PER SHARE\n(C) 10.9%\n₹1,173\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,173\n1,058\n1,152\nBook value per share increased year\non year due to increase in reserves\nand surplus.\nREVENUE 17.8%\n₹3,06,848 Crore\nUS$ 36.8 Billion\nEBITDA 28.4%\n₹23,082 Crore\nUS$ 2.8 Billion\nPage 18\nREVENUE 11.0%\n₹1,32,938 Crore\nUS$ 15.9 Billion\nEBITDA 12.7%\n₹56,697 Crore\nUS$ 6.8 Billion\nPage 21\nREVENUE 49.0%\n₹10,826 Crore\nUS$ 1.3 Billion\nEBITDA 86.0%\n₹33 Crore\nUS$ 4 Million\nPage 24\nREVENUE 5.0%\n₹5,64,749 Crore\nUS$ 67.7 Billion\nEBITDA 0.5%\n₹62,393 Crore\nUS$ 7.5 Billion\nCONTRIBUTION TO\nNATIONAL EXCHEQUER\n(C crore)\n₹1,86,440 Crore\nUS$ 22.4 Billion\nPage 27\nREVENUE 48.0%\n₹24,439 Crore\nUS$ 2.9 Billion\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1,86,440\n1,77,173\n1,88,012\nEBITDA 48.6%\n₹20,191 Crore\nUS$ 2.4 Billion\nRIL retained its position as one of\nIndia’s largest corporate tax-payer,\nand also the leading contributor of\nindirect taxes in the private sector.\nNew Energy Page 29\nBuilding the world’s most modular, large-scale, affordable, and modern Green\nEnergy business – crucial to RIL’s Net Carbon Zero goal by 2035.\nNote: All Revenue and EBITDA figures are for the year ended March 31, 2024\n2 3\nReliance Industries Limited Integrated Annual Report 2023-24\nDEBT EQUITY RATIO\n(times)\n0.41\nFY 2023-24\nFY 2022-23\nFY 2021-22\nDecrease in debt to equity ratio\ndue to lower debt and growth in\nretained earnings.\n0.41\n0.44\n0.34\nCURRENT RATIO\n(times)\n1.18\nFY 2023-24\nFY 2022-23\nFY 2021-22\n1.18\n1.07\n1.34\nCurrent ratio rose due to decreased\nshort-term borrowings and increased\ncash, signalling improved liquidity.\nOil to Chemicals\nA global leader in Oil to Chemicals operations, delivering high-spec fuels and\nmaterials, focused on enhancing integration and producing premium chemicals\nand green materials.\nProducts\nTransportation Fuels and Dow",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_cash_flow",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Cash from operations: 11,000+ cr",
      "golden_context": "Page 3:\n\nAt a Glance\nAs India’s largest fast moving consumer goods Company,\nwe are driven by our purpose to make sustainable living commonplace.\nOver 85 years of heritage\nMore than nine out of ten Indian\nhouseholds use one or more of\nour products on any given day\n~4,500\nDistributors\nStrong brands with purpose\nOur 50+ brands help people feel good,\nlook good and get more out of life\n_x0007_ Read more about our brands and consumers on\npages 22 to 25\n14\nBrands in India’s Top 100\nMost Trusted Brands 2020\nPowered by our people Our purposeful and inclusive culture\nattracts the best talent\nRead more about our people on pages on 26 to 27\n42/58\nGender balance in\nmanagement (female/male) (a)\nUsing our scale for good\nWe have an ambitious sustainability\nagenda which is delivering\nsignificant impact\nRead more about the planet & society on pages 31 to 33\n100%\nRenewable grid electricity\n~8mn\nStores sell our products\n~ 1, 150\nSuppliers\n14\nBrands with turnover\nof over K1,000 crores\n12\nYears consecutive\nEmployer of Choice\n>154mn\nPeople reached cumulatively\nthrough our Water Sanitation\nand Hygiene initiatives (c)\nOur Financial Highlights (Standalone*)\nOur Three Divisions\nTurnover\nK45,311cr\n2019-20: L38,273cr\nReported\nTurnover Growth\n18%\n2019-20: 2%\nNet Profit Growth\n18%\n2019-20: 12%\nHome Care\nBeauty & Personal Care\nFoods & Refreshment\nEarnings Per Share\nK33.85\n2019-20: L31.13\nCash from\nOperations\nK11,000+cr\n2019-20: L9,500+cr\nDividend Per Share\nK40.50\n(Includes special dividend of L 9.50)\n2019-20: L25\nWhat we stand for:\nTo make people’s homes a better\nworld, and to make our\nworld a better home.\nOur largest categories:\nFabric Solutions,\nHome and Hygiene\nA selection of our brands:\nSurf excel, Wheel, Rin,\nVim and Sunlight\nWhat we stand for:\nWe believe in beauty that cares for\npeople, society and our planet.\nOur largest categories:\nSkin Cleansing,\nSkin Care, Hair Care\nA selection of our brands:\nLifebuoy, Glow & Lovely, Dove,\nPond’s, Clinic Plus, Lakmé,\nLux and Closeup\nWhat we stand for:\nTo make brands that not only taste\nand feel good, but that are a force\nfor good.\nOur largest categories:\nTea, Health Food\nDrinks and Coffee\nA selection of our brands: Brooke\nBond, Horlicks, BRU, Boost, Kissan,\nKnorr and Kwality Wall’s\nRevenue – K 13,959 crores\nEBIT – K 2,773 crores\nRevenue – K 17,964 crores\nEBIT – K 5,127 crores\nRevenue – K 13,204 crores\nEBIT – K 2,189 crores\n(a) excluding nutrition business* Including impact of merger of GlaxoSmithkline Consumer Healthcare Limited (GSK CH) and acquisition of ‘VWash’ (b) by end of financial year 2019-20 (C) up to December 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_company_type",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "LImited",
      "golden_context": "Page 1:\n\nurpose-led,\nfuture-fit\nHindustan Unilever Limited\nIntegrated Annual Report 2020-21",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_key_financials",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "45311 cr turnover, EPS: 33.85, cash from operations: 11,000+ cr",
      "golden_context": "Page 3:\n\nAt a Glance\nAs India’s largest fast moving consumer goods Company,\nwe are driven by our purpose to make sustainable living commonplace.\nOver 85 years of heritage\nMore than nine out of ten Indian\nhouseholds use one or more of\nour products on any given day\n~4,500\nDistributors\nStrong brands with purpose\nOur 50+ brands help people feel good,\nlook good and get more out of life\n_x0007_ Read more about our brands and consumers on\npages 22 to 25\n14\nBrands in India’s Top 100\nMost Trusted Brands 2020\nPowered by our people Our purposeful and inclusive culture\nattracts the best talent\nRead more about our people on pages on 26 to 27\n42/58\nGender balance in\nmanagement (female/male) (a)\nUsing our scale for good\nWe have an ambitious sustainability\nagenda which is delivering\nsignificant impact\nRead more about the planet & society on pages 31 to 33\n100%\nRenewable grid electricity\n~8mn\nStores sell our products\n~ 1, 150\nSuppliers\n14\nBrands with turnover\nof over K1,000 crores\n12\nYears consecutive\nEmployer of Choice\n>154mn\nPeople reached cumulatively\nthrough our Water Sanitation\nand Hygiene initiatives (c)\nOur Financial Highlights (Standalone*)\nOur Three Divisions\nTurnover\nK45,311cr\n2019-20: L38,273cr\nReported\nTurnover Growth\n18%\n2019-20: 2%\nNet Profit Growth\n18%\n2019-20: 12%\nHome Care\nBeauty & Personal Care\nFoods & Refreshment\nEarnings Per Share\nK33.85\n2019-20: L31.13\nCash from\nOperations\nK11,000+cr\n2019-20: L9,500+cr\nDividend Per Share\nK40.50\n(Includes special dividend of L 9.50)\n2019-20: L25\nWhat we stand for:\nTo make people’s homes a better\nworld, and to make our\nworld a better home.\nOur largest categories:\nFabric Solutions,\nHome and Hygiene\nA selection of our brands:\nSurf excel, Wheel, Rin,\nVim and Sunlight\nWhat we stand for:\nWe believe in beauty that cares for\npeople, society and our planet.\nOur largest categories:\nSkin Cleansing,\nSkin Care, Hair Care\nA selection of our brands:\nLifebuoy, Glow & Lovely, Dove,\nPond’s, Clinic Plus, Lakmé,\nLux and Closeup\nWhat we stand for:\nTo make brands that not only taste\nand feel good, but that are a force\nfor good.\nOur largest categories:\nTea, Health Food\nDrinks and Coffee\nA selection of our brands: Brooke\nBond, Horlicks, BRU, Boost, Kissan,\nKnorr and Kwality Wall’s\nRevenue – K 13,959 crores\nEBIT – K 2,773 crores\nRevenue – K 17,964 crores\nEBIT – K 5,127 crores\nRevenue – K 13,204 crores\nEBIT – K 2,189 crores\n(a) excluding nutrition business* Including impact of merger of GlaxoSmithkline Consumer Healthcare Limited (GSK CH) and acquisition of ‘VWash’ (b) by end of financial year 2019-20 (C) up to December 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_revenue",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "45311 cr turnover",
      "golden_context": "Page 3:\n\nAt a Glance\nAs India’s largest fast moving consumer goods Company,\nwe are driven by our purpose to make sustainable living commonplace.\nOver 85 years of heritage\nMore than nine out of ten Indian\nhouseholds use one or more of\nour products on any given day\n~4,500\nDistributors\nStrong brands with purpose\nOur 50+ brands help people feel good,\nlook good and get more out of life\n_x0007_ Read more about our brands and consumers on\npages 22 to 25\n14\nBrands in India’s Top 100\nMost Trusted Brands 2020\nPowered by our people Our purposeful and inclusive culture\nattracts the best talent\nRead more about our people on pages on 26 to 27\n42/58\nGender balance in\nmanagement (female/male) (a)\nUsing our scale for good\nWe have an ambitious sustainability\nagenda which is delivering\nsignificant impact\nRead more about the planet & society on pages 31 to 33\n100%\nRenewable grid electricity\n~8mn\nStores sell our products\n~ 1, 150\nSuppliers\n14\nBrands with turnover\nof over K1,000 crores\n12\nYears consecutive\nEmployer of Choice\n>154mn\nPeople reached cumulatively\nthrough our Water Sanitation\nand Hygiene initiatives (c)\nOur Financial Highlights (Standalone*)\nOur Three Divisions\nTurnover\nK45,311cr\n2019-20: L38,273cr\nReported\nTurnover Growth\n18%\n2019-20: 2%\nNet Profit Growth\n18%\n2019-20: 12%\nHome Care\nBeauty & Personal Care\nFoods & Refreshment\nEarnings Per Share\nK33.85\n2019-20: L31.13\nCash from\nOperations\nK11,000+cr\n2019-20: L9,500+cr\nDividend Per Share\nK40.50\n(Includes special dividend of L 9.50)\n2019-20: L25\nWhat we stand for:\nTo make people’s homes a better\nworld, and to make our\nworld a better home.\nOur largest categories:\nFabric Solutions,\nHome and Hygiene\nA selection of our brands:\nSurf excel, Wheel, Rin,\nVim and Sunlight\nWhat we stand for:\nWe believe in beauty that cares for\npeople, society and our planet.\nOur largest categories:\nSkin Cleansing,\nSkin Care, Hair Care\nA selection of our brands:\nLifebuoy, Glow & Lovely, Dove,\nPond’s, Clinic Plus, Lakmé,\nLux and Closeup\nWhat we stand for:\nTo make brands that not only taste\nand feel good, but that are a force\nfor good.\nOur largest categories:\nTea, Health Food\nDrinks and Coffee\nA selection of our brands: Brooke\nBond, Horlicks, BRU, Boost, Kissan,\nKnorr and Kwality Wall’s\nRevenue – K 13,959 crores\nEBIT – K 2,773 crores\nRevenue – K 17,964 crores\nEBIT – K 5,127 crores\nRevenue – K 13,204 crores\nEBIT – K 2,189 crores\n(a) excluding nutrition business* Including impact of merger of GlaxoSmithkline Consumer Healthcare Limited (GSK CH) and acquisition of ‘VWash’ (b) by end of financial year 2019-20 (C) up to December 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_revenue_growth",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "45311 cr turnover, prior year: 38273 cr",
      "golden_context": "Page 3:\n\nAt a Glance\nAs India’s largest fast moving consumer goods Company,\nwe are driven by our purpose to make sustainable living commonplace.\nOver 85 years of heritage\nMore than nine out of ten Indian\nhouseholds use one or more of\nour products on any given day\n~4,500\nDistributors\nStrong brands with purpose\nOur 50+ brands help people feel good,\nlook good and get more out of life\n_x0007_ Read more about our brands and consumers on\npages 22 to 25\n14\nBrands in India’s Top 100\nMost Trusted Brands 2020\nPowered by our people Our purposeful and inclusive culture\nattracts the best talent\nRead more about our people on pages on 26 to 27\n42/58\nGender balance in\nmanagement (female/male) (a)\nUsing our scale for good\nWe have an ambitious sustainability\nagenda which is delivering\nsignificant impact\nRead more about the planet & society on pages 31 to 33\n100%\nRenewable grid electricity\n~8mn\nStores sell our products\n~ 1, 150\nSuppliers\n14\nBrands with turnover\nof over K1,000 crores\n12\nYears consecutive\nEmployer of Choice\n>154mn\nPeople reached cumulatively\nthrough our Water Sanitation\nand Hygiene initiatives (c)\nOur Financial Highlights (Standalone*)\nOur Three Divisions\nTurnover\nK45,311cr\n2019-20: L38,273cr\nReported\nTurnover Growth\n18%\n2019-20: 2%\nNet Profit Growth\n18%\n2019-20: 12%\nHome Care\nBeauty & Personal Care\nFoods & Refreshment\nEarnings Per Share\nK33.85\n2019-20: L31.13\nCash from\nOperations\nK11,000+cr\n2019-20: L9,500+cr\nDividend Per Share\nK40.50\n(Includes special dividend of L 9.50)\n2019-20: L25\nWhat we stand for:\nTo make people’s homes a better\nworld, and to make our\nworld a better home.\nOur largest categories:\nFabric Solutions,\nHome and Hygiene\nA selection of our brands:\nSurf excel, Wheel, Rin,\nVim and Sunlight\nWhat we stand for:\nWe believe in beauty that cares for\npeople, society and our planet.\nOur largest categories:\nSkin Cleansing,\nSkin Care, Hair Care\nA selection of our brands:\nLifebuoy, Glow & Lovely, Dove,\nPond’s, Clinic Plus, Lakmé,\nLux and Closeup\nWhat we stand for:\nTo make brands that not only taste\nand feel good, but that are a force\nfor good.\nOur largest categories:\nTea, Health Food\nDrinks and Coffee\nA selection of our brands: Brooke\nBond, Horlicks, BRU, Boost, Kissan,\nKnorr and Kwality Wall’s\nRevenue – K 13,959 crores\nEBIT – K 2,773 crores\nRevenue – K 17,964 crores\nEBIT – K 5,127 crores\nRevenue – K 13,204 crores\nEBIT – K 2,189 crores\n(a) excluding nutrition business* Including impact of merger of GlaxoSmithkline Consumer Healthcare Limited (GSK CH) and acquisition of ‘VWash’ (b) by end of financial year 2019-20 (C) up to December 2020",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000462_segments",
      "report_id": "ID_000462",
      "company_name": "Hindustan Unilever Limited",
      "year": 2021,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Home Care, Beauty & Personal Care, Foods & Refreshment, Others",
      "golden_context": "Page 6:\n\n Hindustan Unilever Limited Our Performance The benefits that our vision and strategy deliver, translate\ninto growth-oriented performance for shareholders and the\nsociety at large.\nSEGMENTAL PERFORMANCE IN 2020-21 NON-FINANCIAL PERFORMANCE*\nSegmental Revenue (%)\nHome Care 30\nBeauty & Personal Care 39\nFoods & Refreshment 29\nOthers 2\nSegmental Results (%)\nMANUFACTURING\n2020: 91%\n2019: 85%\nReduction in CO2 emissions (kg/tonne of\nproduction) in our manufacturing operations\ncompared to 2008 baseline\n2020: 54%\n2019: 58%\nReduction in water consumption (m3/tonne of\nproduction) in our manufacturing operations\ncompared to 2008 baseline\n2020: 59%\n2019: 63%\nReduction in total waste (kg/tonne of\nproduction) generated from factories\ncompared to 2008 baseline\nHome Care 27\nBeauty & Personal Care 50\nFoods & Refreshment 21\nOthers 2\nFINANCIAL PERFORMANCE IN 2020-21\nBETTER LIVELIHOODS\n2020: ~1,36,000\n2019: ~1,20,000\nShakti Entrepreneurs empowered\nNET REVENUE\nL45,996 crores\nComparable Domestic\nconsumer business\ngrew by 6%, underlying\nvolume growth 3%\nEBITDA\nL11,324 crores\nEarning Before Interest\nTax Depreciation and\nAmortisation (EBITDA)\nincreased by 18% vs\nlast year.\nEPS (BASIC)\nL33.85\nLast year’s basic EPS:\nK31.13 per share\nCASH FROM OPERATIONS\nL11,000+ crores\nCash from operations\nwas up K1,554 crores\nover the previous year\nSUSTAINABLE SOURCING\n2020: 67%\n2019: 78%\nTea sourced from sustainable\nsources for Unilever brands\nHEALTH AND WELLBEING\n2020: >154 million\n2019: >152 million\nPeople reached cumulatively through our Water,\nSanitation and Hygiene (WASH) initiatives\n*Our non-financial performance is up to December 2020\n(except when mentioned otherwise)\nIntegrated Annual Report 2020-21 9\nFinancial Performance\nOverview\nStandalone (` crores)\nStatement of Profit & Loss Account 2018-19 2019-20 2020-21\nOther Income (includes other operating income) 1,228 1,245 1,198\nGross Sales 37,660 38,273 45,311\nFinance Cost (28) (106) (108)\nProfit Before Taxation@ 8,749 9,289 10,717\nProfit After Taxation@ 6,080 6,743 7,963\nEarnings Per Share of `1 27.89 31.13 33.85\nDividend Per Share of `1 22.00 25.00 40.50$\n@Before Exceptional items\n$Includes Special Dividend\nBalance Sheet 2018-19 2019-20 2020-21\n3,688 5,017 4,321\nProperty, Plant and Equipment and Intangible Assets 4,716 5,569 51,650\nInvestments 2,949 1,500 2,995\nCash and Other Bank Balances Net Assets (Current and Non–Current) (3,694) (4,055) (11,532)\n7,659 8,031 47,434\nShare Capital 216 216 235\nOther Equity 7,443 7,815 47,199\n7,659 8,031 47,434\nKey Ratios and EVA 2018-19 2019-20 2020-21\nEBITDA (% of Gross Sales) 22.9 25.1 25.0\nFixed Asset Turnover (No. of Times) 8.0 6.9 0.9\nPAT@/Gross Sales (%) 16.1 17.6 17.6\nReturn on Capital Employed (%) 131.2 128.5 22.9*\n90.5 92.0 17.0*\n5,291 6,085 3,810*\nReturn on Net Worth (%) Economic Value Added (EVA) (` crores) @ Before Exceptional items *Opening balances adjusted for GSK CH merger\nReturn on Net Worth, Return on Capital Employed and Economic Value Added have dropped in financial year 2020-21 on account of\nincrease in shareholders’ equity pursuant to the merger of GSK CH\nOthers 2018-19 2019-20 2020-21\n1,708 2,298 2,431\n3,69,688 4,97,514 5,71,133\nHUL Share Price on BSE (Per Share of `1)* Market Capitalisation (` crores) *Based on year-end closing prices quoted on BSE Limited\nInformation on 10 years record of Financial Performance is avail",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_cash_flow",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "operating: 8,964 crores, investing: -1,732 crores, financing: -7,984 crores",
      "golden_context": "Page 73:\n\nStandalone Statement of Cash Flows\nfor the year ended 31st March, 2022\nProfit before tax 11,739 10,490\nDepreciation and amortisation expenses 1,040 1,069\nGovernment grant accrued (net) - 13\nContingent consideration true up for business combination (9) (22)\nFinance income (207) (350)\nDividend income (131) (102)\nInterest expense 98 108\nProvision for expenses on employee stock options (1) (2)\nProfit on sale of brand rights (29) -\nMark-to-market (gain)/ loss on derivative financial instruments (1) 25\n(Increase)/decrease in Non-Current Assets 2 1\n(Increase)/decrease in Current Assets (257) (395)\n(Increase)/decrease in Inventories (737) (472)\nIncrease/(decrease) in Non-Current Liabilities 92 30\n(All amounts in ` crores, unless otherwise stated) Year ended\n31st March, 2022\nA CASH FLOWS FROM OPERATING ACTIVITIES:\nAdjustments for:\n(Profit) / loss on sale of property, plant and equipment Other non operating income - Fair value (gain)/loss on investments Inventory written off net of Provision/(write back) for Inventory Bad debts/assets written off net of Provision/(write back) Cash generated from operations before working capital changes Adjustments for:\nTaxes paid (net of refunds) Net cash flows generated from operating activities - [A] B CASH FLOWS FROM INVESTING ACTIVITIES:\nPurchase of intangible assets Purchase of current investments Sale proceeds of current investments Loans given to subsidiaries Year ended\n31st March, 2021\n(99) (57)\n(55) (61)\n145 (17) 195\n74\n12,473 11,380\n(2,720) (2,367)\n8,964 8,957\n(3) (3,422)\n(47,928) (38,450)\n47,173 37,076\n(436) (180)\nInvestment in term deposits (having original maturity of more than 3 months) Redemption/maturity of term deposits (having original maturity of more than 3 months) (3,619) 3,582 (2,375)\n6,139\nNet cash flows used in investing activities - [B] (1,732) (1,367)\nIncrease/(decrease) in Current Liabilities 111 780\nCash flows generated from operations 11,684 11,324\nPurchase of property, plant and equipment (916) (629)\nSale proceeds of property, plant and equipment 146 97\nSale proceeds of intangible assets (brand rights) 29 -\nInvestment in subsidiary (300) (60)\nContingent consideration paid on business combination (41) (33)\nStamp duty on issue of equity shares - (44)\nLoans repaid by subsidiaries 284 126\nLoans given to others (4) -\nInvestment in non-current deposits with banks (1) -\nRedemption of non-current deposits with banks - 1\nInterest received 171 285\nDividend received from subsidiaries 130 101\nDividend received from others 1 1\n142 Financial Statements\n(All amounts in ` crores, unless otherwise stated)\nYear ended\n31st March, 2021\nYear ended\n31st March, 2022\nDividends paid (7,519) (8,811)\nPrincipal payment of lease liabilities (388) (383)\nC CASH FLOWS FROM FINANCING ACTIVITIES:\n0 0\nInterest paid on lease liabilities (75) (81)\nInterest paid other than on lease liabilities (2) (5)\nProceeds from share allotment under employee stock options/ performance share\nschemes\nNet cash flows used in financing activities - [C] (7,984) (9,280)\nNet decrease in cash and cash equivalents - [A+B+C] (752) (1,690)\n3,130\nAdd: Cash acquired under Business Combination - 300\nAdd: Cash and cash equivalents at the beginning of the year 1,740 Cash and cash equivalents at the end of the year (refer note 13) 988 1,740\nNote: The above Standalone Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, ‘Statement of Cash Flows’.\nThe accompanying notes 1 to 50 are an integral part of these standalone financial statements\nAs per our report of even date attached For and on behalf of Board of Directors\nFor B S R & Co. LLP Chartered Accountants\nFirm’s Registration No. 101248W/W - 100022\nSanjiv Mehta Managing Director and\nChief Executive Officer\n[DIN: 06699923]\nRitesh Tiwari\nExecutive Director, Finance & IT\nand Chief Financial Officer\n[DIN: 05349994]\nAniruddha Godbole Kalpana Morparia Dev Bajpai\nPartner Chairperson - Audit Committee Executive Director, Legal & Corporate\nMembership No. 105149 [DIN: 00046081] Affairs and Company Secretary\nMembership No. FCS 3354\nRavishankar A [DIN: 00050516]\nGroup Controller\nMumbai: 27th April, 2022\nMumbai: 27th April, 2022 143\nHindustan Unilever Limited | Integrated Annual Report 2021-22 Notes\nto the standalone financial statements for the year ended 31st March, 2022\nNOTE 1 COMPANY INFORMATION\nHindustan Unilever Limited (the ‘Company’) is a public\nlimited company domiciled in India with its registered office\nlocated at Unilever House, B.D. Sawant Marg, Chakala,\nAndheri (East), Mumbai 400 099. The Company is listed\non the Bombay Stock Exchange (BSE) and the National\nStock Exchange (NSE). The Company is in the Fast moving\nconsumer goods (FMCG) business comprising primarily\nof Home Care, Beauty & Personal Care and Foods &\nRefreshment segments. The Company has manufacturing\nfacilities across the country and sells primarily in India.\nNOTE 2 BASIS OF PREPARATION, MEASUREMENT\nAND SIGNIFICANT ACCOUNTING POLICIES\n2.1 Basis of Preparation and Measurement\n(a) Basis of preparation\nThese financial statements have been prepared in\naccordance with the Indian Accounting Standards\n(hereinafter referred to as the ‘Ind AS’) as notified by\nMinistry of Corporate Affairs pursuant to Section 133\nof the Companies Act, 2013 read with Rule 3 of the\nCompanies (Indian Accounting Standards) Rules, 2015\nas amended from time to time.\nThe standalone financial statements have been\nprepared on accrual and going concern basis.\nThe accounting policies are applied consistently\nto all the periods presented in the standalone\nfinancial statements.\nAll assets and liabilities have been classified as\ncurrent or non-current as per the Company’s normal\noperating cycle, paragraph 66 and 69 of Ind AS 1 and\nother criteria as set out in the Division II of Schedule III\nto the Companies Act, 2013.\nAn asset is treated as current when it is\na. b. c. d. Expected to be realised or intended to be sold or\nconsumed in normal operating cycle:\nHeld primarily for the purpose of trading;\nExpected to be realised within twelve months\nafter the reporting period; or\nCash or cash equivalent unless restricted from\nbeing exchanged or used to settle a liability for\nat least twelve months after the reporting period.\nAll other assets are classified as non-current.\nA liability is treated as current when\na. It is expected to be settled in normal\noperating cycle;\n(All amounts in ` crores, unless otherwise stated) b. c. d. It is held primarily for the purpose of trading;\nIt is due to be settled within twelve months after\nthe reporting period; or\nThere is no unconditional right to defer the\nsettlement of the liability for at least twelve\nmonths after the reporting period.\nAll other liabilities are classified as non-current.\nBased on the nature of products and the time\nbetween acquisition of assets for processing and\ntheir realisation in cash and cash equivalents, the\nCompany has ascertained its operating cycle as\n12 months for the purpose of current or non-current\nclassification of assets and liabilities. Deferred tax\nassets and liabilities are classified as non-current\nassets and liabilities.\nThe standalone financial statements are presented\nin Indian National Rupee (INR), the functional\ncurrency of the Company. Items included in the\nstandalone financial statements of the Company are\nrecorded using the currency of the primary economic\nenvironment in which the Company operates (the\n‘functional currency’). Foreign currency transactions\nare translated into the functional currency using\nexchange rates at the date of the transaction. Foreign\nexchange gains and losses from settlement of these\ntransactions are recognised in the standalone\nstatement of profit and loss. Foreign currency\ndenominated monetary assets and liabilities are\ntranslated into functional currency at exchange rates\nin effect at the balance sheet date, the gain or loss\narising from such translations are recognised in the\nstandalone statement of profit and loss.\nThe expenses in standalone statement of profit and\nloss are net of reimbursements (individually not\nmaterial) received from Group Companies.\nThe Company has decided to round off the figures to\nthe nearest crores. Transactions and balances with\nvalues below the rounding off norm adopted by the\nCompany have been reflected as “0” in the relevant\nnotes to these financial statements.\nThe standalone financial statements of the Company\nfor the year ended 31st March, 2022 were approved for\nissue in accordance with the resolution of the Board of\nDirectors on 27th April, 2022.\n(b) Basis of measurement\nThese financial statements are prepared under the\nhistorical cost convention except for certain class of\n144 2.2 2.3 Financial Statements\nfinancial assets/ liabilities, share based payments\nand net liability for defined benefit plans that are\nmeasured at fair value.\nThe accounting policies adopted are the same\nas those which were applied for the previous\nfinancial year.\nKey Accounting Estimates and Judgements\nThe preparation of standalone financial statements\nrequires management to make judgments, estimates\nand assumptions in the application of accounting\npolicies that affect the reported amounts of assets,\nliabilities, income and expenses. Actual results may\ndiffer from these estimates. Continuous evaluation\nis done on the estimation and judgments based on\nhistorical experience and other factors, including\nexpectations of future events that are believed to be\nreasonable. Revisions to accounting estimates are\nrecognised prospectively.\nInformation about critical judgments in applying\naccounting policies, as well as estimates and\nassumptions that have the most significant effect\nto the carrying amounts of assets and liabilities\nwithin the next financial year, are included in the\nfollowing notes:\na. Measurement of defined benefit obligations\n– Note 39\nb. c. d. e. Measurement and likelihood of occurrence of\nprovisions and contingencies - Notes 21 and 24\nRecognition of deferred tax assets –Note 9\nKey assumptions used in discounted cash flow\nprojections - Note 41\nImpairment of Goodwill and Intangible assets\n- Note 4\nf. Indefinite useful life of certain intangible assets\n– Note 4\ng. Measurement of Right of Use Asset and Lease\nliabilities – Note 3 and Note 19\nAmendments to Schedule III of the Companies\nAct, 2013\nMinistr y of Corporate Af fairs (MCA) issued\nnotifications dated 24th March, 2021 to amend\nSchedule III of the Companies Act, 2013 to enhance\nthe disclosures required to be made by the Company\nin its financial statements. These amendments are\napplicable to the Company for the financial year\n(All amounts in ` crores, unless otherwise stated)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_company_type",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nPurpose-led,\nfuture-fit\nHindustan Unilever Limited\nIntegrated Annual Report 2021-22",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_key_financials",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Turnover: 50,336 crores, EBIT: 11,478 crores, EPS: 37.53",
      "golden_context": "Page 9:\n\nOur Performance\nFinancials\nSegmental Revenue (%)\nHome Care 30%\nRevenue EBIT\nBeauty & Personal Care 39%\nFoods & Refreshment 29%\nOthers 2%\nStandalone\nSegmental Results (%)\nHome Care 27%\nBeauty & Personal Care 50%\nFoods & Refreshment 21%\nOthers 2%\nHUL won AIMA’s 8th Business\nResponsibility Summit & Project\nExcellence Contest & Awards in the\nCovid-19 category\nHUL was named\n‘No. 1 Employer\nacross Sectors at\nall B-schools’ as\nper InsideIIM’s\n2021 brand\nperception study\nHUL emerged as the\n‘No. 1 Dream Company to Work For\n2021’ as part of the Dare2Compete\nsurvey, co-powered by Forbes India\nand CRISIL Limited\n‘Outstanding\nCompany of the\nYear’ by CNBC\nTV18 at the\n17th India Business\nLeader Awards 2021\nNo. 1 Employer\nacross sectors as per\nInsideIIM’s 2021 brand\nperception study\nHUL’s factory in\nDapada recognised by\nWorld Economic Forum\nas ‘Advanced 4th\nIndustrial lighthouse’\nStatement of Profit & Loss Account Turnover 50,336 45,311 38,273\nOther Income (includes other operating income) 1,250 1,198 1,245\nFinance Cost (98) (108) (106)\nEarnings Before Interest and Taxes (EBIT) 11,478 10,312 8,667\n2021-22 (` in crores)\n2020-21 2019-20\n+ includes Special Dividend\nProfit Before Taxation 11,773 10,717 9,289\nProfit After Taxation (PAT) 8,818 7,954 6,738\nEarnings Per Share 37.53 33.85 31.13\nDividend Per Share 34.00 40.50+ 25.00\nBalance Sheet 2021-22 (` in crores)\n2020-21 2019-20\nProperty, Plant and Equipment 6,714 6,409 5,138\nIntangible Assets 45,221 45,241 431\nHUL received the ‘Sustainable\nFactory of the Year Award’ for its\nPondicherry HPC Factory at the 12th\nedition of Frost & Sullivan and TERI’s\nSustainability 4.0 Awards 2021\nHUL was recognised as a champion\nin ‘Leading Practices in Diversity\n& Inclusion’ at the PeopleFirst HR\nExcellence Awards 2021\nHUL was recognised as\na champion in Leading\nPractices in Pandemic\nResponse at the PeopleFirst HR\nExcellence Awards 2021\nHUL won PeopleStrong’s\nNew Code of\nWork Award 2021\nOther Assets 17,802 16,466 14,033\nTotal Assets 69,737 68,116 19,602\nShare Capital 235 235 216\nOther Equity 48,525 47,199 7,815\nOther Liabilities 20,977 20,682 11,571\nTotal Equity and Liabilities 69,737 68,116 19,602\nKey Ratios and EVA EBITDA (% of Turnover) 24.8 25.0 25.1\nFixed Asset Turnover (No. of Times) 1.0 0.9 6.9\nPeople with Purpose Thrive\nPAT/Turnover (%) 17.5 17.6 17.6\n2021-22 2020-21 2019-20\n*Opening balances adjusted for GSK CH merger\nReturn on Capital Employed (%) 107.8 113.0 103.4\nOperating profit margin (%) 22.8 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_revenue",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Turnover: 50,336 crores",
      "golden_context": "Page 9:\n\nOur Performance\nFinancials\nSegmental Revenue (%)\nHome Care 30%\nRevenue EBIT\nBeauty & Personal Care 39%\nFoods & Refreshment 29%\nOthers 2%\nStandalone\nSegmental Results (%)\nHome Care 27%\nBeauty & Personal Care 50%\nFoods & Refreshment 21%\nOthers 2%\nHUL won AIMA’s 8th Business\nResponsibility Summit & Project\nExcellence Contest & Awards in the\nCovid-19 category\nHUL was named\n‘No. 1 Employer\nacross Sectors at\nall B-schools’ as\nper InsideIIM’s\n2021 brand\nperception study\nHUL emerged as the\n‘No. 1 Dream Company to Work For\n2021’ as part of the Dare2Compete\nsurvey, co-powered by Forbes India\nand CRISIL Limited\n‘Outstanding\nCompany of the\nYear’ by CNBC\nTV18 at the\n17th India Business\nLeader Awards 2021\nNo. 1 Employer\nacross sectors as per\nInsideIIM’s 2021 brand\nperception study\nHUL’s factory in\nDapada recognised by\nWorld Economic Forum\nas ‘Advanced 4th\nIndustrial lighthouse’\nStatement of Profit & Loss Account Turnover 50,336 45,311 38,273\nOther Income (includes other operating income) 1,250 1,198 1,245\nFinance Cost (98) (108) (106)\nEarnings Before Interest and Taxes (EBIT) 11,478 10,312 8,667\n2021-22 (` in crores)\n2020-21 2019-20\n+ includes Special Dividend\nProfit Before Taxation 11,773 10,717 9,289\nProfit After Taxation (PAT) 8,818 7,954 6,738\nEarnings Per Share 37.53 33.85 31.13\nDividend Per Share 34.00 40.50+ 25.00\nBalance Sheet 2021-22 (` in crores)\n2020-21 2019-20\nProperty, Plant and Equipment 6,714 6,409 5,138\nIntangible Assets 45,221 45,241 431\nHUL received the ‘Sustainable\nFactory of the Year Award’ for its\nPondicherry HPC Factory at the 12th\nedition of Frost & Sullivan and TERI’s\nSustainability 4.0 Awards 2021\nHUL was recognised as a champion\nin ‘Leading Practices in Diversity\n& Inclusion’ at the PeopleFirst HR\nExcellence Awards 2021\nHUL was recognised as\na champion in Leading\nPractices in Pandemic\nResponse at the PeopleFirst HR\nExcellence Awards 2021\nHUL won PeopleStrong’s\nNew Code of\nWork Award 2021\nOther Assets 17,802 16,466 14,033\nTotal Assets 69,737 68,116 19,602\nShare Capital 235 235 216\nOther Equity 48,525 47,199 7,815\nOther Liabilities 20,977 20,682 11,571\nTotal Equity and Liabilities 69,737 68,116 19,602\nKey Ratios and EVA EBITDA (% of Turnover) 24.8 25.0 25.1\nFixed Asset Turnover (No. of Times) 1.0 0.9 6.9\nPeople with Purpose Thrive\nPAT/Turnover (%) 17.5 17.6 17.6\n2021-22 2020-21 2019-20\n*Opening balances adjusted for GSK CH merger\nReturn on Capital Employed (%) 107.8 113.0 103.4\nOperating profit margin (%) 22.8 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_revenue_growth",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Turnover: 50,336 crores, prior year: 45,311 crores",
      "golden_context": "Page 9:\n\nOur Performance\nFinancials\nSegmental Revenue (%)\nHome Care 30%\nRevenue EBIT\nBeauty & Personal Care 39%\nFoods & Refreshment 29%\nOthers 2%\nStandalone\nSegmental Results (%)\nHome Care 27%\nBeauty & Personal Care 50%\nFoods & Refreshment 21%\nOthers 2%\nHUL won AIMA’s 8th Business\nResponsibility Summit & Project\nExcellence Contest & Awards in the\nCovid-19 category\nHUL was named\n‘No. 1 Employer\nacross Sectors at\nall B-schools’ as\nper InsideIIM’s\n2021 brand\nperception study\nHUL emerged as the\n‘No. 1 Dream Company to Work For\n2021’ as part of the Dare2Compete\nsurvey, co-powered by Forbes India\nand CRISIL Limited\n‘Outstanding\nCompany of the\nYear’ by CNBC\nTV18 at the\n17th India Business\nLeader Awards 2021\nNo. 1 Employer\nacross sectors as per\nInsideIIM’s 2021 brand\nperception study\nHUL’s factory in\nDapada recognised by\nWorld Economic Forum\nas ‘Advanced 4th\nIndustrial lighthouse’\nStatement of Profit & Loss Account Turnover 50,336 45,311 38,273\nOther Income (includes other operating income) 1,250 1,198 1,245\nFinance Cost (98) (108) (106)\nEarnings Before Interest and Taxes (EBIT) 11,478 10,312 8,667\n2021-22 (` in crores)\n2020-21 2019-20\n+ includes Special Dividend\nProfit Before Taxation 11,773 10,717 9,289\nProfit After Taxation (PAT) 8,818 7,954 6,738\nEarnings Per Share 37.53 33.85 31.13\nDividend Per Share 34.00 40.50+ 25.00\nBalance Sheet 2021-22 (` in crores)\n2020-21 2019-20\nProperty, Plant and Equipment 6,714 6,409 5,138\nIntangible Assets 45,221 45,241 431\nHUL received the ‘Sustainable\nFactory of the Year Award’ for its\nPondicherry HPC Factory at the 12th\nedition of Frost & Sullivan and TERI’s\nSustainability 4.0 Awards 2021\nHUL was recognised as a champion\nin ‘Leading Practices in Diversity\n& Inclusion’ at the PeopleFirst HR\nExcellence Awards 2021\nHUL was recognised as\na champion in Leading\nPractices in Pandemic\nResponse at the PeopleFirst HR\nExcellence Awards 2021\nHUL won PeopleStrong’s\nNew Code of\nWork Award 2021\nOther Assets 17,802 16,466 14,033\nTotal Assets 69,737 68,116 19,602\nShare Capital 235 235 216\nOther Equity 48,525 47,199 7,815\nOther Liabilities 20,977 20,682 11,571\nTotal Equity and Liabilities 69,737 68,116 19,602\nKey Ratios and EVA EBITDA (% of Turnover) 24.8 25.0 25.1\nFixed Asset Turnover (No. of Times) 1.0 0.9 6.9\nPeople with Purpose Thrive\nPAT/Turnover (%) 17.5 17.6 17.6\n2021-22 2020-21 2019-20\n*Opening balances adjusted for GSK CH merger\nReturn on Capital Employed (%) 107.8 113.0 103.4\nOperating profit margin (%) 22.8 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000463_segments",
      "report_id": "ID_000463",
      "company_name": "Hindustan Unilever Limited",
      "year": 2022,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Home Care, Beauty & Personal Care, Foods & Refreshment, Others",
      "golden_context": "Page 9:\n\nOur Performance\nFinancials\nSegmental Revenue (%)\nHome Care 30%\nRevenue EBIT\nBeauty & Personal Care 39%\nFoods & Refreshment 29%\nOthers 2%\nStandalone\nSegmental Results (%)\nHome Care 27%\nBeauty & Personal Care 50%\nFoods & Refreshment 21%\nOthers 2%\nHUL won AIMA’s 8th Business\nResponsibility Summit & Project\nExcellence Contest & Awards in the\nCovid-19 category\nHUL was named\n‘No. 1 Employer\nacross Sectors at\nall B-schools’ as\nper InsideIIM’s\n2021 brand\nperception study\nHUL emerged as the\n‘No. 1 Dream Company to Work For\n2021’ as part of the Dare2Compete\nsurvey, co-powered by Forbes India\nand CRISIL Limited\n‘Outstanding\nCompany of the\nYear’ by CNBC\nTV18 at the\n17th India Business\nLeader Awards 2021\nNo. 1 Employer\nacross sectors as per\nInsideIIM’s 2021 brand\nperception study\nHUL’s factory in\nDapada recognised by\nWorld Economic Forum\nas ‘Advanced 4th\nIndustrial lighthouse’\nStatement of Profit & Loss Account Turnover 50,336 45,311 38,273\nOther Income (includes other operating income) 1,250 1,198 1,245\nFinance Cost (98) (108) (106)\nEarnings Before Interest and Taxes (EBIT) 11,478 10,312 8,667\n2021-22 (` in crores)\n2020-21 2019-20\n+ includes Special Dividend\nProfit Before Taxation 11,773 10,717 9,289\nProfit After Taxation (PAT) 8,818 7,954 6,738\nEarnings Per Share 37.53 33.85 31.13\nDividend Per Share 34.00 40.50+ 25.00\nBalance Sheet 2021-22 (` in crores)\n2020-21 2019-20\nProperty, Plant and Equipment 6,714 6,409 5,138\nIntangible Assets 45,221 45,241 431\nHUL received the ‘Sustainable\nFactory of the Year Award’ for its\nPondicherry HPC Factory at the 12th\nedition of Frost & Sullivan and TERI’s\nSustainability 4.0 Awards 2021\nHUL was recognised as a champion\nin ‘Leading Practices in Diversity\n& Inclusion’ at the PeopleFirst HR\nExcellence Awards 2021\nHUL was recognised as\na champion in Leading\nPractices in Pandemic\nResponse at the PeopleFirst HR\nExcellence Awards 2021\nHUL won PeopleStrong’s\nNew Code of\nWork Award 2021\nOther Assets 17,802 16,466 14,033\nTotal Assets 69,737 68,116 19,602\nShare Capital 235 235 216\nOther Equity 48,525 47,199 7,815\nOther Liabilities 20,977 20,682 11,571\nTotal Equity and Liabilities 69,737 68,116 19,602\nKey Ratios and EVA EBITDA (% of Turnover) 24.8 25.0 25.1\nFixed Asset Turnover (No. of Times) 1.0 0.9 6.9\nPeople with Purpose Thrive\nPAT/Turnover (%) 17.5 17.6 17.6\n2021-22 2020-21 2019-20\n*Opening balances adjusted for GSK CH merger\nReturn on Capital Employed (%) 107.8 113.0 103.4\nOperating profit margin (%) 22.8 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_cash_flow",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 9,626 crores, investing: -1,062 crores, financing: -8,966 crores",
      "golden_context": "Page 206:\n\nStandalone Statement of Cash Flows\nfor the year ended 31st March, 2023\n(All amounts in ₹ crores, unless otherwise stated)\nYear ended\n31st March, 2023\nYear ended\n31st March, 2022\nA CASH FLOWS FROM OPERATING ACTIVITIES:\nProfit before tax 13,079 11,739\nAdjustments for:\nDepreciation and amortisation expenses 1,045 1,040\n(Profit) / loss on sale of property, plant and equipment (102) (99)\nContingent consideration true up for business combination (2) (9)\nFinance income (425) (207)\nDividend income (118) (131)\nOther non operating income - Fair value (gain)/loss on investments (97) (55)\nInterest expense 101 98\nProvision for expenses on employee stock options - (1)\nProfit on sale of brand rights (60) (29)\nInventory written off net of Provision/(write back) for Inventory 176 145\nBad debts/assets written off net of Provision/(write back) (34) (17)\nTransaction cost on acquisition 2 -\nMark-to-market (gain)/ loss on derivative financial instruments (8) (1)Adjustments for:\n(Increase)/decrease in Non-Current Assets (13) 2\n(Increase)/decrease in Current Assets (1,099) (257)\n(Increase)/decrease in Inventories (332) (737)\nIncrease/(decrease) in Non-Current Liabilities (115) 92\nIncrease/(decrease) in Current Liabilities 696 111\nCash flows generated from operations 12,694 11,684\n(3,068) (2,720)\n9,626 8,964\nPurchase of property, plant and equipment (1,023) (916)\nSale proceeds of property, plant and equipment 120 146\nPurchase of intangible assets (18) (3)\nTaxes paid (net of refunds) Net cash flows generated from operating activities - [A] B CASH FLOWS FROM INVESTING ACTIVITIES:\n(22,561) (47,928)\n23,363 47,173\nSale proceeds of intangible assets (brand rights) 60 29\nInvestment in subsidiary (264) (300)\nTransaction cost on acquisition (2) -\nInvestment in Joint Venture (70) -\nContingent consideration paid on business combination (40) (41)\nPurchase of current investments Sale proceeds of current investments Loans given to subsidiaries (493) (436)\nLoans repaid by subsidiaries 678 284\nLoans given to others (1) (4)\nInvestment in term deposits (having original maturity of more than 3 months) (3,627) (3,619)\nRedemption/maturity of term deposits (having original maturity of more than 3 months) HINDUSTAN UNILEVER LIMITED\nStandalone Statement of Cash Flows\nfor the year ended 31st March, 2023\n(All amounts in ₹ crores, unless otherwise stated)\nYear ended\n31st March, 2023\nYear ended\n31st March, 2022\nA CASH FLOWS FROM OPERATING ACTIVITIES:\nProfit before tax 13,079 11,739\nAdjustments for:\nDepreciation and amortisation expenses 1,045 1,040\n(Profit) / loss on sale of property, plant and equipment (102) (99)\nContingent consideration true up for business combination (2) (9)\nFinance income (425) (207)\nDividend income (118) (131)\nOther non operating income - Fair value (gain)/loss on investments (97) (55)\nInterest expense 101 98\nProvision for expenses on employee stock options - (1)\nProfit on sale of brand rights (60) (29)\nInventory written off net of Provision/(write back) for Inventory 176 145\nBad debts/assets written off net of Provision/(write back) (34) (17)\nTransaction cost on acquisition 2 -\nMark-to-market (gain)/ loss on derivative financial instruments (8) (1)\nCash Generated from operations before working capital changes 13,557 12,473\nnvestment in non-current deposits with banks - (1)\nInterest received 273 171\nDividend received from subsidiaries 116 130\nDividend received from others 2 1\nNet cash flows used in investing activities - [B] 3,582\n(1,062) 2,425 (1,732)\n\n\nC CASH FLOWS FROM FINANCING ACTIVITIES:\nDividends paid (8,459) (7,519)\nPrincipal payment of lease liabilities (431) (388)\nInterest paid on lease liabilities (76) (75)\nInterest paid other than on lease liabilities - (2)\nProceeds from share allotment under employee stock options/ performance share\n- 0\nschemes\nNet cash flows used in financing activities - [C] (8,966) (7,984)\nNet decrease in cash and cash equivalents - [A+B+C] (402) (752)\nAdd: Cash and cash equivalents at the beginning of the year 988 1,740\nCash and cash equivalents at the end of the year (refer note 13) 586 988\nNote: The above Standalone Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, 'Statement of Cash Flows'.\nThe accompanying notes 1 to 50 are an integral part of these standalone financial statements\nAs per our report of even date attached For and on behalf of Board of Directors\nFor B S R & Co. LLP Chartered Accountants\nFirm's Registration No. 101248W/W - 100022\nSanjiv Mehta Ritesh Tiwari\nManaging Director\nExecutive Director, Finance & IT and Chief\nand Chief Executive Officer\nFinancial Officer\n[DIN: 06699923] [DIN: 05349994]\nAniruddha Godbole Kalpana Morparia Dev Bajpai\nPartner Chairperson - Audit Committee Executive Director, Legal & Corporate\nMembership No. 105149 [DIN: 00046081] Affairs and Company Secretary\nMembership No. FCS 3354\n[DIN: 000505",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_company_type",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\ny of facts and information, the Board of\nDirectors and Management of the Company have reviewed the\nIntegrated Annual Report. Further, the Board of Directors confirms\nthat the Integrated Annual Report, taken as a whole, is fair,\nbalanced and provides necessary information to stakeholders\non the Company’s performance, business model, and strategy,\ntogether with a description of the material risks and opportunities.\nForward-looking Statement\nStatements in this Integrated Annual Report, particularly\nthose that relate to the Management Discussion and Analysis,\ndescribing the Company’s objectives, projections, estimates and\nexpectations, generally identified by words such as ‘may’, ‘believe’,\n‘outlook’, ‘plan’, ‘anticipate’, ‘continue’, ‘estimate’, and ‘expect’,\nmay constitute forward-looking statements within the meaning of\napplicable laws and regulations. Such statements are necessarily\ndependent on projection and trends and constitute our current\nexpectations based on reasonable assumptions. However, the\nactual results might differ from those expressed or implied in such\nforward-looking statements due to risks, uncertainties, and other\nexternal factors.\nReporting Element Status of Assurance\nFinancial Information\n- Standalone and\nConsolidated Financial\nStatements\nAudited by Independent\nAuditors M/s. B S R & Co. LLP,\nChartered Accountants\nNon-Financial Performance\n(a) _x0007_ Business\nResponsibility and\nSustainability Report\n(BRSR)\nOur key non-financial indicators\nhave been assured by Price\nWaterhouse Chartered Accountants\nLLP in accordance with International\nStandard on Assurance\nEngagements (ISAE) 3000 (Revised)\nAssurance Engagements other\nthan Audits or Reviews of Historical\nFinancial Information and ISAE 3410\nAssurance Engagements, issued\nby the International Auditing and\nAssurance Standards Board (IAASB).\nThe scope and basis of assurance\nhave been described in the\nAssurance Statement issued by Price\nWaterhouse Chartered Accountants\nLLP which forms a part of the BRSR.\n(b) _x0007_ HUL Compass ESG Goals Our Compass sustainability\nperformance is a subset of\nUnilever PLC’s reported Compass\nsustainability performance, in\nrespect of which independent\nlimited assurance on certain\nmetrics has been provided by\nPricewaterhouseCoopers LLP, in\naccordance with ISAE 3000 (Revised),\nISAE 3410 and Institute of Chartered\nAccountants in England & Wales\nCode of Ethics as applicable.\nDetails are available at\nhttps://www.unilever.com/\nplanet-and-society/sustainability-\nreporting-centre/independent-\nassurance/\n(c) _x0007_ Compliance with\nconditions of Corporate\nGovernance as\nstipulated under the\nListing Regulations\nCertificate from M/s. B S R & Co.,\nLLP, Chartered Accountants,\nStatutory Auditors\n(d) _x0007_ Compliance with the\nCompanies Act, 2013\napplicable Rules made\nunder the Act and\nListing Regulations\nCertificate from\nM/s. S. N. Ananthasubramanian\n& Co., Company Secretaries,\nSecretarial Auditors\nOther non-financial\nperformance information\nInternally reviewed and assured by\nthe Management of the Company.\nMateriality Determination\nThis Integrated Annual Report provides fair and balanced\ninformation about the relevant matters that substantively\naffect the Company’s ability to create value both positively and\nnegatively, including risks and opportunities and favourable and\nunfavourable performance or prospects. To identify material\ninformation or matters, we have taken a holistic perspective by\nregularly engaging with the various key stakeholders.\nNote:\nYou can find more information about Hindustan Unilever Limited\nat www.hul.co.in.\nFind more information about HUL Compass ESG Goals: https://www.\nhul.co.in/planet-and-society/\nIntegrated Annual Report along with other related documents can\nbe downloaded: https://www.hul.co.in/investor-relations/annual-\nreports/",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_key_financials",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "turnover 58,154cr, 16% growth in turnover, 9,962 cr profit after tax",
      "golden_context": "Page 5:\n\n#1\nEmployer of choice1\n>2.6 Tn litres\nWater potential created4\nL58,154 Cr\nTurnover\n16% YoY Growth\n40%\nGender balance2\n97%\nReduction in CO2 emissions\nper tonne of production5\nL9,962 Cr\nProfit after tax\n13% YoY Growth\nOne of the Best\nOrganisations for\nwomen in 2022 and 20233\n~9 Mn\nPeople reached through our\ncommunity development\ninitiative – Prabhat\nL39\nDividend per share\n15",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_revenue",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "58,154 cr",
      "golden_context": "Page 5:\n\nur people\nPlanet and\nsociety\nShareholders\n#1\nEmployer of choice1\n>2.6 Tn litres\nWater potential created4\nL58,154 Cr\nTurnover\n16% YoY Growth\n40%\nGender balance2\n97%\nReduction in CO2 emissions\nper tonne of production5\nL9,962 Cr\nProfit after tax\n13% YoY Growth\nOne of the Best\nOrganisations for\nwomen in 2022 and 20233\n~9 Mn\nPeople reached through our\ncommunity development\ninitiative – Prabhat\nL39\nDividend per share\n15%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_revenue_growth",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "16% growth",
      "golden_context": "Page 5:\n\nur people\nPlanet and\nsociety\nShareholders\n#1\nEmployer of choice1\n>2.6 Tn litres\nWater potential created4\nL58,154 Cr\nTurnover\n16% YoY Growth\n40%\nGender balance2\n97%\nReduction in CO2 emissions\nper tonne of production5\nL9,962 Cr\nProfit after tax\n13% YoY Growth\nOne of the Best\nOrganisations for\nwomen in 2022 and 20233\n~9 Mn\nPeople reached through our\ncommunity development\ninitiative – Prabhat\nL39\nDividend per share\n15%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000464_segments",
      "report_id": "ID_000464",
      "company_name": "Hindustan Unilever Limited",
      "year": 2023,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Home Care, Beauty and Personal Care, Foods and Refreshment, Others",
      "golden_context": "Page 24:\n\nTotal Equity and Liabilities 71,825 69,737 68,116\nKey Ratios and EVA EBITDA (% of Turnover) 23.4 24.8 25.0\nFixed Asset Turnover (No. of Times) 1.1 1.0 0.9\nPAT/Turnover (%) 17.1 17.5 17.6\n2022-23 2021-22 2020-21\n*Opening balances adjusted for GSK CH merger\nReturn on Capital Employed (ROCE) (%) 101.9 107.8 113.0\nReturn On Net Worth (RONW) (%) 20.1 18.6 17.0*\nEconomic Value Added (EVA) (₹ in crores) 4,435 4,435 3,810*\nOthers 2022-23 2021-22 2020-21\nHUL Share Price on BSE (Per Share of ₹1)# 2,559 2,049 2,431\nMarket Capitalisation (₹ in crores) 6,01,202 4,81,396 5,71,133\n#Based on year-end closing prices quoted on BSE Limited\nHINDUSTAN UNILEVER LIMITED\nTurnover\nK58,154 cr\nEBITDA PAT\n16% 13%\n9%\nK13,632 cr K9,962 cr\nK42.4EPS 13% 9%\nCash from operations ROCE\nK12,694 cr 102%\nYoY Growth\n(₹ in crores)\nStatement of Profit & Loss Account 2022-23 2021-22 2020-21\nTurnover 58,154 50,336 45,311\nOther Income (includes other operating income) 1,630 1,250 1,198\nEarnings Before Interest and Taxes (EBIT) 12,602 11,478 10,312\nEarnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) 13,632 12,503 11,324\nProfit Before Taxation (PBT) 13,079 11,739 10,490\nProfit After Taxation (PAT) 9,962 8,818 7,954\nEarnings Per Share of ₹1 (EPS) 42.40 37.53 33.85\nDividend Per Share of ₹1 39.00 34.00 40.50+\n+ includes Special Dividend\nSegmental Performance in FY 2022-23 Segmental Revenue\nHome Care 21,230\nRevenue EBIT\nBeauty and Personal Care 21,831\nFoods and Refreshment 14,876\nOthers 1,207\n(₹ in crores)\nSegmental Results (EBIT)\nHome Care 3,875\nBeauty and Personal Care 5,597\nFoods and Refreshment 2,662\nOthers 468",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_cash_flow",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "15,179 cr cash from operations, EPS: 43.05",
      "golden_context": "Page 10:\n\nat we depend on... What we do...\nFinancial Capital ₹50,973 Cr\nNet worth\nFunds generated from our operations and\nfinancing activities that we utilise to deliver\nlong-term sustainable growth and value\ncreation to our stakeholders.\n₹15,179 Cr\nCash from\noperations\n1\nConsumer Insights\nWe track changing consumer\nsentiment through our People Data\nCentre, combining social listening\nwith traditional consumer research.\nNatural Capital Integrating sustainability into our\nbusiness strategy, we are continuously\nworking towards our ESG goals to lead\nchange and make a positive difference\nto people and planet.\n96%\nRenewable energy\nconsumed1\n74%\nRecyclable and\nreusable plastics\nHuman Capital Our driven and talented people are\ninstrumental in achieving our purpose; we\nare committed to upskilling our workforce\nto create a future-ready workforce.\n19,000+\nPeople1,2\n1,00,000+\nHours training\n2\nInnovation\nOur marketing and R&D tea\n\nPage 28:\n\nFinancial Highlights (Standalone)\nFY 2023-24\nTurnover\n₹59,579 Cr\nEBITDA Margin PAT\n23.8% ₹10,114 Cr\n₹43.05EPS Cash from Operations\n₹15,179 Cr\nROCE\n96.3%\n(₹ in crores)\nSegmental Results (EBIT)\nHome Care 4,033\nBeauty and Personal Care 5,802\nFoods and Refreshment 2,851\nOthers 407\nSegmental Revenue\nHome Care 21,900\nRevenue EBIT\nBeauty and Personal Care 22,165\nFoods and Refreshment 15,292\nOthers 1,112\nLong-term Track Record\nTurnover (₹ in crores)\n28,947\n32,086\n33,856\n32,929\n58,154\n59,579",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_company_type",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 4:\n\nHINDUSTAN UNILEVER LIMITED",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_key_financials",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "EBITDA margin remained at 23.8%",
      "golden_context": "Page 26:\n\nc thrusts - growing our core through\nUnmissable Brand Superiority, driving market-\nmaking, reshaping our portfolio into premium\nspaces and strengthening leadership in channels\nof the future. We remained focused on driving\noperational excellence and continued to build back\nour gross margins whilst stepping up investment in\nbrands and long-term capabilities.\nOur turnover was ₹59,579 crores with an Underlying\nSales Growth of 3% and Underlying Volume Growth\nof 2%. We saw a Gross Margin improvement of 430\nbps in the full year and crossed the milestone of\n₹10,000 crore Net Profit. EBITDA margin remained\nhealthy at 23.8% with an increase of 40 bps YoY.\nProfit After Tax before exceptional items (PAT bei)\nand EPS was up 4% and 2% respectively. The Board\nof Directors proposed a final dividend of ₹24 per\nshare, subject to approval of shareholders at the\nAGM. Together with interim dividend of ₹18 per\nshare, the total dividend for the year amounts to\n₹42 per share, an increase of 8% vs FY 2022-23.\nIn our Beauty and Personal Care business, we\nled significant transformation across our iconic\nbrands with refreshed products, packaging and\ncommunication. We advanced on our journey\nto transform our portfolio towards high growth\nspaces. Lakmē, our local jewel, further elevated\nits credentials with impactful launches like the\nMultiSlayer Face Sticks and the revolutionary Invisible\nSunstick. In Skin Cleansing, our bodywash portfolio\ngrew in high double-digits. In Skin Care, sun care\nand light moisturisers witnessed a similar success\nstory, with the premium portfolio continuing to grow\nstrongly. In Hair Care, our premium brands Dove\nand TRESemmé continued to grow steadily, while\nClinic Plus crossed the ₹2,000 crore turnover mark. In\nour journey to becoming the ‘beauty shapers of the\ncountry’, we unveiled the Beauty Collective. Through\nthis, we aim to strengthen beauty partnerships with\ne-Commerce and Modern Trade customers.\nIn Home Care, we witnessed volume growth\npowered by big strides in our brand superiority\njourney. We continued to drive market development\nthrough home trials and build premium formats\nsuch as liquids. In Vim liquids, for instance, we\nimproved our product formulation, sharpened the\nproposition further, and modified the packaging\nto make it more aspirational & ergonomical. As a\nresult, Vim liquids saw robust volume growth with\nsignificant penetration gains in over a decade and\nmaintained its position as the market leader in\nthe segment. In Surf excel liquid, we launched a\nnew winning proposition of ‘removes tough dried\nstains first time in the machine’. We saw growth in\nboth Fabric Wash and Household Care, with our\npremium portfolio leading this growth.\nWith consumers increasingly looking for products\nthat provide nutritional, long-term benefits, under\nour Foods and Refreshment business, we further\nstrengthened our adult nutrition drinks portfolio\nby building condition awareness, from diabetes\nto women’s health to bone strength. In Horlicks,\nwe sharpened and fortified the proposition of\n‘Taller, Stronger, Sharper’ through precise and\nfocused communications, packaging redesign\nand promotions. The brand saw improvement\nin penetration, market share and brand power.\nIn Tea, Brooke Bond Red Label extended its\nflagship ‘Swad Apnepan Ka’ campaign that\nreflects the brand’s proposition of ‘bringing\npeople together’. In its latest rendition, the brand\nattempts an un-stereotypical portrayal of persons\nwith disabilities. Ice Cream launched multiple\ninnovations such as the Feast Crackle that took our\npartnership to co-create ice creams with Cadbury\nfurther. In Coffee, to cater to a rising coffee culture\nin India, we continued to premiumise our portfolio.\nFor instance, we launched a range of flavoured\ncoffee under Bru Gold. Similarly, Knorr launched\nKorean noodles in popular flavours, Kimchi and\nJjajangmyeon, in the on-trend innovation space.\nIn a transforming distribution la",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_revenue",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Turnover of 59,579 cr",
      "golden_context": "Page 7:\n\n#1\nEmployer of Choice1\n42%\nGender diversity at\nmanagerial positions2\n1,00,000 hrs +\nOf training & upskilling\nemployees\n>3.2 Tn litres\nWater potential created3\n58%\nReduction in total waste generated from\nfactories (kg/tonne of production)2,4\n~10 Mn\nPeople reached through our community\ndevelopment initiative – Prabhat\nPlanet\nand\nSociety\nShareholders\n₹59,579 Cr\nTurnover\n₹10,114 Cr\nPAT\n₹42\nDividend Per Share",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_revenue_growth",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Sales growth of about 3% per year",
      "golden_context": "Page 26:\n\nc thrusts - growing our core through\nUnmissable Brand Superiority, driving market-\nmaking, reshaping our portfolio into premium\nspaces and strengthening leadership in channels\nof the future. We remained focused on driving\noperational excellence and continued to build back\nour gross margins whilst stepping up investment in\nbrands and long-term capabilities.\nOur turnover was ₹59,579 crores with an Underlying\nSales Growth of 3% and Underlying Volume Growth\nof 2%. We saw a Gross Margin improvement of 430\nbps in the full year and crossed the milestone of\n₹10,000 crore Net Profit. EBITDA margin remained\nhealthy at 23.8% with an increase of 40 bps YoY.\nProfit After Tax before exceptional items (PAT bei)\nand EPS was up 4% and 2% respectively. The Board\nof Directors proposed a final dividend of ₹24 per\nshare, subject to approval of shareholders at the\nAGM. Together with interim dividend of ₹18 per\nshare, the total dividend for the year amounts to\n₹42 per share, an increase of 8% vs FY 2022-23.\nIn our Beauty and Personal Care business, we\nled significant transformation across our iconic\nbrands with refreshed products, packaging and\ncommunication. We advanced on our journey\nto transform our portfolio towards high growth\nspaces. Lakmē, our local jewel, further elevated\nits credentials with impactful launches like the\nMultiSlayer Face Sticks and the revolutionary Invisible\nSunstick. In Skin Cleansing, our bodywash portfolio\ngrew in high double-digits. In Skin Care, sun care\nand light moisturisers witnessed a similar success\nstory, with the premium portfolio continuing to grow\nstrongly. In Hair Care, our premium brands Dove\nand TRESemmé continued to grow steadily, while\nClinic Plus crossed the ₹2,000 crore turnover mark. In\nour journey to becoming the ‘beauty shapers of the\ncountry’, we unveiled the Beauty Collective. Through\nthis, we aim to strengthen beauty partnerships with\ne-Commerce and Modern Trade customers.\nIn Home Care, we witnessed volume growth\npowered by big strides in our brand superiority\njourney. We continued to drive market development\nthrough home trials and build premium formats\nsuch as liquids. In Vim liquids, for instance, we\nimproved our product formulation, sharpened the\nproposition further, and modified the packaging\nto make it more aspirational & ergonomical. As a\nresult, Vim liquids saw robust volume growth with\nsignificant penetration gains in over a decade and\nmaintained its position as the market leader in\nthe segment. In Surf excel liquid, we launched a\nnew winning proposition of ‘removes tough dried\nstains first time in the machine’. We saw growth in\nboth Fabric Wash and Household Care, with our\npremium portfolio leading this growth.\nWith consumers increasingly looking for products\nthat provide nutritional, long-term benefits, under\nour Foods and Refreshment business, we further\nstrengthened our adult nutrition drinks portfolio\nby building condition awareness, from diabetes\nto women’s health to bone strength. In Horlicks,\nwe sharpened and fortified the proposition of\n‘Taller, Stronger, Sharper’ through precise and\nfocused communications, packaging redesign\nand promotions. The brand saw improvement\nin penetration, market share and brand power.\nIn Tea, Brooke Bond Red Label extended its\nflagship ‘Swad Apnepan Ka’ campaign that\nreflects the brand’s proposition of ‘bringing\npeople together’. In its latest rendition, the brand\nattempts an un-stereotypical portrayal of persons\nwith disabilities. Ice Cream launched multiple\ninnovations such as the Feast Crackle that took our\npartnership to co-create ice creams with Cadbury\nfurther. In Coffee, to cater to a rising coffee culture\nin India, we continued to premiumise our portfolio.\nFor instance, we launched a range of flavoured\ncoffee under Bru Gold. Similarly, Knorr launched\nKorean noodles in popular flavours, Kimchi and\nJjajangmyeon, in the on-trend innovation space.\nIn a transforming distribution la",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000465_segments",
      "report_id": "ID_000465",
      "company_name": "Hindustan Unilever Limited",
      "year": 2024,
      "country": "IN",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Home Care, Beauty and Personal Care, Foods and Refreshment, Others",
      "golden_context": "Page 28:\n\nFinancial Highlights (Standalone)\nFY 2023-24\nTurnover\n₹59,579 Cr\nEBITDA Margin PAT\n23.8% ₹10,114 Cr\n₹43.05EPS Cash from Operations\n₹15,179 Cr\nROCE\n96.3%\n(₹ in crores)\nSegmental Results (EBIT)\nHome Care 4,033\nBeauty and Personal Care 5,802\nFoods and Refreshment 2,851\nOthers 407\nSegmental Revenue\nHome Care 21,900\nRevenue EBIT\nBeauty and Personal Care 22,165\nFoods and Refreshment 15,292\nOthers 1,112\nLong-term Track Record\nTurnover (₹ in crores)\n28,947\n32,086\n33,856\n32,929\n58,154\n59,579\n5",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_cash_flow",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 414,947,862k, investing: -11,201,692k, financing: -73,811,141k",
      "golden_context": "Page 101:\n\nCash Flow Statement\nFor the year ended March 31, 2021\n` in ‘000\nYear ended\n31-Mar-21\nCash flow from / (used in) operating activities\nProfit before income tax Adjustments for :\n(Increase) / decrease in investments (Increase) / decrease in advances Increase / (decrease) in deposits (Increase) / decrease in other assets Increase / (decrease) in other liabilities and provisions Year ended\n31-Mar-20\n416,589,837 366,071,513\nDepreciation on fixed assets 13,024,133 11,958,533\n(Profit) / loss on revaluation of investments 14,853,243 7,021,095\nAmortisation of premium on held to maturity investments 7,654,693 5,014,137\n(Profit) / loss on sale of fixed assets (15,407) 83,208\nProvision / charge for non performing assets 116,499,658 93,523,605\nProvision for standard assets and contingencies 42,694,827 30,515,777\nDividend from subsidiaries (4,830,434) (4,237,182)\n606,470,550 509,950,686\nAdjustments for :\n(525,406,084) (999,216,055)\n(1,509,246,390) (1,836,404,567)\n1,875,579,261 2,243,613,663\n100,182,759 (71,801,285)\n(6,756,511) 91,939,987\n414,947,862 (166,897,750)\n(16,173,763) (15,468,752)\nProceeds from sale of fixed assets 141,637 182,351\nDividend from subsidiaries 4,830,434 4,237,182\nNet cash flow used in investing activities (11,201,692) (11,049,219)\nCash flow (used in) / from financing activities\n17,600,995 18,486,821\nRedemption of Tier II capital bonds (11,050,000) -\n(80,362,136) 275,434,134\n- (65,403,089)\n(73,811,141) 228,517,866\nEffect of exchange fluctuation on translation reserve (1,418,252) 2,139,891\n328,516,777 52,710,788\n866,187,180 813,476,392\n540,823,585 (61,917,571)\nDirect taxes paid (net of refunds) (125,875,723) (104,980,179)\nNet cash flow from / (used in) operating activities Cash flows from / (used in) investing activities\nPurchase of fixed assets Proceeds from issue of share capital, net of issue expenses Increase / (decrease) in other borrowings Dividend paid during the year (including tax on dividend) Net cash flow (used in) / from financing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents as at April 1st Cash and cash equivalents as at March 31st 1,194,703,957 866,187,180\nAs per our report of even date For MSKA & Associates\nChartered Accountants\nICAI Firm Registration Number: 105047W\nSwapnil Kale\nPartner\nMembership Number: 117812\nMumbai, April 17, 2021 198\nFor and on behalf of the Board\nUmesh Chandra Sarangi\nIndependent Director\nKaizad Bharucha\nExecutive Director\nSantosh Haldankar\nCompany Secretary\nSashidhar Jagdishan\nManaging Director & CEO\nSrinivasan Vaidyanathan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_company_type",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 2:\n\nSemi-Urban and\nRural (SURU)\nExpanded semi-urban and\nrural presence further by\nincreasing banking channel\nnetworks across India\nNon-financial\nTotal Banking Outlets**\n21,360\nCSR Expenditure*\n`634.91 Cr\nLives Impacted through CSR Initiatives**\n8.5 Cr+\n* During 2020-21 ** As on March 31, 2021\nHDFC Bank Limited | Integrated Annual Report 2020-21",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_key_financials",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Basic EPS: 56.58, net profit: 31,116.5 crore",
      "golden_context": "Page 5:\n\nCreating value\nfor our stakeholders\nAt HDFC Bank, we work\nrelentlessly towards\ncreating long-term value\nfor our shareholders\nand society at large. We\nprovide holistic banking\nsolutions that fulfill their\nneeds and expectations.\nWe offer our employees\na fair and inclusive\nworking environment, as\nwell as contribute to the\nwell-being of the local\ncommunities. Robust\nfinancial performance\nenables a platform for\nenvironmental and social\nresponsibility.\nCustomers\nWe cater to a diverse customer\nbase with evolving financial needs.\nOur customers are individuals,\nlarge and mid-corporates, financial\ninstitutions, Governments, PSUs,\nMSMEs, farmers, wholesalers and\ntraders. We focus on increasing\nthe depth of engagement, which\nleads to transformational customer\njourneys.\nGovernments/\nRegulatory Bodies\nAs one of India’s largest and\nsystemically important banks, we\ncollaborate with the Government\nin myriad ways to bring the vast\nunbanked and under-banked\npopulation into the economic\nmainstream. We are not just a\nresponsible taxpayer complying\nwith applicable regulations, but\nare also an enabler for delivering\nsocial schemes and benefits.\nCommunity\nWe are driving holistic, sustainable\ncommunity development\nprogrammes for empowering the\nless-privileged sections of society\nin India.\nEmployees\nWe aspire to be the employer of\nchoice and promote an inclusive\nand meritocratic culture that\nensures engagement, progress\nand care. We have also been\ncertified as a ‘Great Place to Work’\nfor 2020.\nInvestors\nWe provide transparent, regular\ndisclosures to the investor\ncommunity to help them make\ninformed decisions. We also\nregularly engage with research\nanalysts, both on Buy-side and\nSell-side, to provide detailed\ninformation on our performance.\nGrowth in Total Advances**\nContribution to Exchequer**\nCSR beneficiaries*\nEmployee strength*\nNet Interest Margin**\n14.0%\nDomestic Retail Advances*\n`5,27,586 Crore\nMerchant Acceptance Points*\n21.34 Lakh\n`40,018.60 Crore\nTotal Number of BCs in\npartnership with CSCs*\n15,556\n8.5 Crore+\nImpact via Sustainable\nLivelihood Initiative (SLI)*\n1.29 Crore\nhouseholds\nCumulative renewable energy\ncapacity financed\n2,945 MW\n1,20,093\nEmployee expenses**\n`10,364.79 Crore\n4.1%\nReturn on Capital**\n16.6%\nBasic Earnings per Share**\n`56.58\nNet Profit**\n`31,116.5 Crore",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_revenue",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "90,084.46 crore",
      "golden_context": "Page 58:\n\n0 Year Financial Highlights\nStatutory Reports and\nFinancial Statements\n2011-2012 2012-2013 2013-2014 2014-2015 Interest income 27,874.19 35,064.87 41,135.53 48,469.91 Interest expense 14,989.58 19,253.75 22,652.90 26,074.23 Net interest income 12,884.61 15,811.12 18,482.63 22,395.68 Other income 5,783.62 6,852.62 7,919.64 8,996.34 Net revenues 18,668.23 22,663.74 26,402.28 31,392.02 Operating costs 9,277.64 11,236.11 12,042.20 13,987.55 Operating result 9,390.59 11,427.63 14,360.08 17,404.47 Provisions and contingencies 1,877.44 1,677.01 1,588.03 2,075.75 Loan loss provisions 1,091.77 1,234.21 1,632.58 1,723.58 Others 785.67 442.80 (44.56) 352.17 Profit before tax 7,513.15 9,750.62 12,772.05 15,328.72 Provision for taxation 2,346.08 3,024.34 4,293.67 5,112.80 Profit after tax 5,167.07 6,726.28 8,478.38 10,215.92 Funds :\nDeposits 2,46,706.45 2,96,246.98 3,67,337.48 4,50,795.65 Subordinated debt 11,105.65 16,586.75 16,643.05 16,254.90 Stockholders’ equity 29,924.37 36,214.15 43,478.63 62,009.42 Working funds 3,45,248.26 4,21,327.31 4,91,599.50 5,95,695.13 Loans 1,95,420.03 2,39,720.64 3,03,000.27 3,65,495.04 Investments 89,967.10 1,11,303.21 1,00,111.88 1,56,833.82 Key Ratios :\nEarnings per share (`) * 11.06 14.24 17.74 21.08 Return on average networth 18.37% 20.07% 20.88% 20.36% Tier 1 capital ratio 11.60% 11.08% 11.77% 13.66% Total capital ratio 16.52% 16.80% 16.07% 16.79% Dividend per share (`) * 2.15 2.75 3.43 4.00 Dividend payout ratio 22.70% 22.77% 22.68% 23.62% Book value per share as at March 31 (`) * 63.76 76.10 90.62 123.70 Market price per share as at March 31 (`) ** 259.93 312.68 374.40 511.35 Price to earnings ratio 23.51 21.95 21.11 24.26 ` Crore\n2015-2016 2016-17 2017-18 2018-19 2019-20 2020-21\n60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23\n32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66\n27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57\n10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89\n38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46\n16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63\n21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83\n2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85\n2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19\n591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66\n18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98\n6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46\n12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52\n5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22\n15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00\n72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83\n7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52\n4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63\n1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29\n24.42 28.59 33.88 39.33 48.01 56.58\n17.97% 18.04% 18.22% 16.30% 16.76% 16.60%\n13.22% 12.79% 13.25% 15.78% 17.23% 17.56%\n15.53% 14.55% 4.75 5.50 14.82% 6.50 17.11% 7.50 18.52% 18.79%\n*** 6.50***\n23.51% 23.32% 23.26% 23.36% *** 11.54%***\n143.74 174.56 204.80 273.94 311.83 369.54\n535.58 721.28 964.50 1,159.45 861.90 1,493.65\n21.93 25.23 28.47 29.48 17.95 26.40",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_revenue_growth",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "90,084.46 crore, prior year: 79,447.07 crore",
      "golden_context": "Page 58:\n\n0 Year Financial Highlights\nStatutory Reports and\nFinancial Statements\n2011-2012 2012-2013 2013-2014 2014-2015 Interest income 27,874.19 35,064.87 41,135.53 48,469.91 Interest expense 14,989.58 19,253.75 22,652.90 26,074.23 Net interest income 12,884.61 15,811.12 18,482.63 22,395.68 Other income 5,783.62 6,852.62 7,919.64 8,996.34 Net revenues 18,668.23 22,663.74 26,402.28 31,392.02 Operating costs 9,277.64 11,236.11 12,042.20 13,987.55 Operating result 9,390.59 11,427.63 14,360.08 17,404.47 Provisions and contingencies 1,877.44 1,677.01 1,588.03 2,075.75 Loan loss provisions 1,091.77 1,234.21 1,632.58 1,723.58 Others 785.67 442.80 (44.56) 352.17 Profit before tax 7,513.15 9,750.62 12,772.05 15,328.72 Provision for taxation 2,346.08 3,024.34 4,293.67 5,112.80 Profit after tax 5,167.07 6,726.28 8,478.38 10,215.92 Funds :\nDeposits 2,46,706.45 2,96,246.98 3,67,337.48 4,50,795.65 Subordinated debt 11,105.65 16,586.75 16,643.05 16,254.90 Stockholders’ equity 29,924.37 36,214.15 43,478.63 62,009.42 Working funds 3,45,248.26 4,21,327.31 4,91,599.50 5,95,695.13 Loans 1,95,420.03 2,39,720.64 3,03,000.27 3,65,495.04 Investments 89,967.10 1,11,303.21 1,00,111.88 1,56,833.82 Key Ratios :\nEarnings per share (`) * 11.06 14.24 17.74 21.08 Return on average networth 18.37% 20.07% 20.88% 20.36% Tier 1 capital ratio 11.60% 11.08% 11.77% 13.66% Total capital ratio 16.52% 16.80% 16.07% 16.79% Dividend per share (`) * 2.15 2.75 3.43 4.00 Dividend payout ratio 22.70% 22.77% 22.68% 23.62% Book value per share as at March 31 (`) * 63.76 76.10 90.62 123.70 Market price per share as at March 31 (`) ** 259.93 312.68 374.40 511.35 Price to earnings ratio 23.51 21.95 21.11 24.26 ` Crore\n2015-2016 2016-17 2017-18 2018-19 2019-20 2020-21\n60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23\n32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66\n27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57\n10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89\n38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46\n16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63\n21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83\n2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85\n2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19\n591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66\n18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98\n6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46\n12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52\n5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22\n15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00\n72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83\n7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52\n4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63\n1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29\n24.42 28.59 33.88 39.33 48.01 56.58\n17.97% 18.04% 18.22% 16.30% 16.76% 16.60%\n13.22% 12.79% 13.25% 15.78% 17.23% 17.56%\n15.53% 14.55% 4.75 5.50 14.82% 6.50 17.11% 7.50 18.52% 18.79%\n*** 6.50***\n23.51% 23.32% 23.26% 23.36% *** 11.54%***\n143.74 174.56 204.80 273.94 311.83 369.54\n535.58 721.28 964.50 1,159.45 861.90 1,493.65\n21.93 25.23 28.47 29.48 17.95 26.40",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000466_segments",
      "report_id": "ID_000466",
      "company_name": "HDFC Bank",
      "year": 2021,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Wholesale banking, Retail banking, Treasury",
      "golden_context": "Page 15:\n\nur Business Segments\nEngines of growth\nWholesale banking\nThis business focuses on\ninstitutional customers such as:\n•\n•\n•\n•\n•\nLarge corporates including MNCs\nPublic Sector Enterprises\nEmerging corporates\nBusiness banking/SMEs\nInfrastructure finance groups\nProducts and services\n•\nWorking capital facilities\n•\nTerm lending\n•\nProject finance\n•\nDebt capital markets\n•\nMergers and acquisitions\n•\nTrade credit\n•\nSupply chain financing\n•\nForex and derivatives\n•\nCash management services\n•\nWholesale deposits\n•\nLetters of credit and guarantees\n•\nCustodial services\n•\nCorrespondent banking\n#Y-O-Y\n26\nDomestic Wholesale Advances\n`5,83,925 Crore\n21.7%#\nOf the Bank’s total Domestic Advances\n(as per Basel II classification)\n53%\nOur edge\n•\nFull service ‘One Stop Shop’ for\ncorporates\n•\nMarket leader in cash management\nservices\n•\nProminent position in large corporate,\nemerging corporate and SME space\nStatutory Reports and\nFinancial Statements\nRetail banking\nThis business caters to:\n•\nIndividual borrowers\n•\nSalaried and professional\nborrowers\n•\nMicro & small sized businesses\n•\nExtremely small businesses like\nkirana stores\n•\nSelf-Help Groups (SHGs)\n•\nNon-resident Indians (NRIs)\nProducts and services\n•\nAuto loans\n•\nCredit, Debit and Prepaid cards\n•\nPersonal loans\n•\nHome loans\n•\nGold loans\n•\nMortgages\n•\nCommercial vehicles finance\n•\nRetail business banking\n•\nSavings account\n•\nCurrent account\n•\nFixed and recurring deposits\n•\nCorporate salary accounts\n•\nAgri and tractor loans\n•\nSHG loans\n•\nKisan Gold Card\n•\nDistribution of mutual funds, life, general\nand health insurance\n•\nHealthcare finance\n•\nOffshore loans to NRIs\n•\nNRI deposits\n•\nSmall-ticket working capital loans\n•\nBusiness loans\n•\nTwo-wheeler loans\n•\nLoans against securities\nDomestic Retail Advances\n`5,27,586 Crore\n6.7%#\nOf the Bank’s total Domestic Advances\n(as per Basel II classification)\n47%\nDomestic Retail Deposits\n`10,64,684 Crore\n21.1%#\nOur edge\n•\nDominant presence in the payments\nbusiness\n•\nStrong product proposition for NRIs through\nbranches in India and overseas\n•\nMarket leader in almost every asset category\nwith best-in-class portfolio quality\n•\nPioneer and strong player in the digital loan\nmarketplace\nTreasury\nThe Treasury is the custodian\nof the Bank’s cash/liquid assets\nand manages its investments\nin securities and other market\ninstruments. It manages the\nliquidity and interest rate risks\non the balance sheet and is also\nresponsible for meeting statutory\nreserve requirements.\nRevenue from Forex and\nDerivative transactions\n# Y-O-Y\nProducts and services\n•\nForeign exchange and derivatives\n•\nSolutions on hedging strategies\n•\nTrade solutions – domestic and cross\nborder\n•\nBullion\n•\nDebt capital markets\n•\nEquities\n•\nResearch Reports and commentary on\nmarkets and currencies\n•\nAsset liability management\n•\nStatutory reserve\n`2,438.4 Crore\n13.16%#\nOur edge\n•\nSolutions for non-residents, hedging\nneeds in Indian markets\n•\nIntegrated trade ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_cash_flow",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -142,087,221k, investing: -12,915,956k, financing: 481,917,491k",
      "golden_context": "Page 219:\n\nCash Flow Statement\nFor the year ended March 31, 2022\n` in '000\nYear ended\nMarch 31, 2022\nYear ended\nMarch 31, 2021\nCash flows from operating activities:\nProfit before income tax 490,154,792 416,589,837\nAdjustments for:\nDepreciation on fixed assets 15,998,039 13,024,133\n(Profit) / loss on revaluation of investments (15,463,977) 14,853,243\nAmortisation of premium on held to maturity investments 8,213,244 7,654,693\n(Profit) / loss on sale of fixed assets 33,388 (15,407)\nProvision / charge for non performing assets 106,334,842 116,499,658\nProvision for standard assets and contingencies 49,569,684 42,694,827\nDividend from subsidiaries (8,308,954) (4,830,434)\nEmployee Stock Options Expense 3,259,696 -\n649,790,754 606,470,550\nAdjustments for:\nIncrease in investments (121,951,685) (525,406,084)\nIncrease in advances (2,466,388,983) (1,509,246,390)\nIncrease in deposits 2,241,572,192 1,875,579,261\n(Increase) / decrease in other assets (380,235,846) 100,182,759\nIncrease / (decrease) in other liabilities and provisions 75,178,971 (6,756,511)\n(2,034,597) 540,823,585\nDirect taxes paid (net of refunds) (140,052,624) (125,875,723)\nNet cash flows (used in) / from operating activities (142,087,221) 414,947,862\nCash flows from investing activities:\nPurchase of fixed assets (21,407,866) (16,173,763)\nProceeds from sale of fixed assets 182,956 141,637\nDividend from subsidiaries 8,308,954 4,830,434\nNet cash flow used in investing activities Cash flows from financing activities:\nProceeds from issue of share capital, net of issue expenses 26,097,614 17,600,995\nProceeds from issue of Additional Tier I capital bonds 81,627,500 -\nRedemption of Tier II capital bonds (36,500,000) (11,050,000)\nNet proceeds / (repayments) in other borrowings Dividend paid during the year Net cash flow from / (used in) financing activities Effect of exchange fluctuation on translation reserve Net increase in cash and cash equivalents (11,201,692)\n1,650,973 328,565,287 446,616,337 481,917,491 (12,915,956) 328,516,777\n(80,362,136)\n(35,923,960) -\n(73,811,141)\n(1,418,252)\nCash and cash equivalents as at April 1st 1,194,703,957 866,187,180\nCash and cash equivalents as at March 31st 1,523,269,244 1,194,703,957\nAs per our report of even date For and on behalf of the Board\nFor MSKA & Associates For M M Nissim & Co LLP Atanu Chakraborty Umesh Chandra Sarangi\nChartered Accountants Chartered Accountants Part Time Chairman of the Board Independent Director\nICAI Firm Registration Number:\nICAI Firm Registration Number:\n105047W\n107122W/W100672 M. D. Ranganath Malay Patel\nIndependent Director Independent Director\nSwapnil Kale Sanjay Khemani Lily Vadera Sashidhar Jagdishan\nPartner Partner Independent Director Managing Director & CEO\nMembership Number: 117812 Membership Number: 044577\nKaizad Bharucha Srinivasan Vaidyanathan\nExecutive Director Chief Financial Officer\nSantosh Haldankar\nCompany Secretary",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_company_type",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 5:\n\n among others.\nPG 16\nHuman\nCapital\nOur people and culture are\nfundamental to our success.\nTheir collective knowledge,\ndiverse skill sets and deep\nexperience constitute\nour human capital. Our\npeople enable us to stay\nagile, adapt to changing\ntimes, innovate and deliver\ncompetitive solutions.\nPG 80\nIntellectual\nCapital\nOur Digital and Enterprise\nFactory along with our\nhybrid cloud strategy\nenables us to serve our\ncustomers and other\nstakeholders efficiently. The\nknowledge and expertise\nincorporated within our\nsystems, processes and\nprocedures and the equity\nbuilt in the HDFC Bank\nbrand, constitute our\nintellectual capital.\nPG 78\nEmployees\nInvestors\nSuppliers\nSocial &\nRelationship Capital\nWe take a holistic approach\nto sustainable value creation\nby nurturing our long-\nstanding relationships with\nour stakeholders. We are\ncognisant of the role we\nplay as a Bank in nation-\nbuilding and contribute\nresponsibly to the economy.\nThe way we manage our\nstakeholder expectations\nconstitutes our social and\nrelationship capital.\nPG 94\nManufactured\nCapital\nOur pan-India distribution\nnetwork of banking\noutlets, corporate offices,\nATMs and other customer\ntouch points, facilitates\nour engagement with\ncustomers, people,\nthe society and other\nstakeholders and forms the\ncore of our manufactured\ncapital. It also covers our\nrobust IT infrastructure and\ndata centres.\nPG 6\nNatural\nCapital\nThe use of natural resources\nin our operations and the\ndelivery of our products\nand services constitute\nour natural capital. Natural\nresources include energy\nand water consumed, waste\ngenerated and the impact\nof our business activities\non the climate and the\nenvironment.\nPG 56\nHDFC Bank Limited Integrated Annual Report 2021-22",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_key_financials",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "total deposits 15,59,217 cr, total advances 13,68,821 cr, net interest income 72,010 cr, total income 1,57,263 cr",
      "golden_context": "Page 23:\n\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\nOutputs\nProducts\nTotal Deposits\n`15,59,217 Cr\n16.8%\nTotal Advances\nOutcomes\nFinancial capital\n· Net Revenue: `1,01,519 Cr\n· Net Profit after tax:\n`36,961 Cr\n· Return on Asset: 2.03%\n· Return on Equity: 16.9%\n· Cost-to-income ratio: 36.9%\nUN SDGs#\n· Capital Adequacy Ratio:\n18.9%\n· GNPA: 1.17%\n· Net NPA: 0.32%\n`13,68,821 Cr\n20.8%\nShare of Digital in\ntotal transactions\nHuman capital\n· Net Additions: 21,486\n· Women in workforce: 21.7%\n(Excludes sales officers and\nother non-supervisory staff)\n· Employee engagement\nscore: 83%\n· Profit per employee:\n~H28 Lakh\n· Employee Cost: H12,032 Cr\n~93%\nNet Interest Income\n`72,010 Cr\n11%\nTotal Income\nIntellectual capital\n· Brand Value: $ 35.60 Billion^\n· Strengthening of core and\ncreation of digital stack\n· Attracted market-leading\nskills in areas such as data\nanalytics, IT, equities and\nadvisory solutions\n· 1,400 Number of internal\nAPIs published increased by\n50% plus over last 2 years\n· Average Customer uptime at\n99.94%\n`1,57,263 Cr\n7.7%\nTotal Direct (CBDT)\nand Indirect taxes\n(GST & CBIC)\ncollected for the Govt.\nSocial & relationship capital\n· BU Net Promoter Score:** 60\n· Customer Additions:\n92 Lakh+\n· MSCI ESG Ratings\nAssessment: AA*\n· CSR Beneficiaries:\n9.6 Cr+\n· Shareholder base: ~21 lakh\n· Certified as a Great Place to\nWork® Organisation.\n`6,33,582.37 Cr\nLong term objectives\n· Increase customer base\n· Operational efficiency\n· Expand footprint\n· Omnichannel experience\n· Healthy asset quality\n· Access low cost funds\nNatural capital\n· Loan proposals screened\nand approved through the\nSEMS framework: 861\n· Trees planted so far:\n17.69 Lakh+\n· Water Conservation\nstructures developed\n10,500+\n· Cumulative Underwritten\nWind & Solar (cumulative\ncapacity 5,860 MW)\nunderwritten amount:\n`14,839 Cr\n· Solar lights installed 41,810+\nInformation\ntechnology Risk\nCyber security\nand data Risks\nManufactured capital\n· Total Banking Outlets and\nbranches: 21,683 and\n6,342 respectively\n· Cities/towns covered: 3,188\n· ATM + cash withdrawal/\ndeposit machine: 18,130\n· Total Business\nCorrespondents: 15,341\n# For a complete list of SDGs impacted\nthrough our social & relationship capital,\nplease refer Page 95\n^ As per Kantar BrandZ Most Valu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_revenue",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "1,01,519.49 crore",
      "golden_context": "Page 118:\n\n10 Year Financial Highlights\nContinuing our growth journey\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\n` Crore\n2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22\nInterest income 35,064.87 41,135.53 48,469.91 60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23 1,27,753.12\nInterest expense 19,253.75 22,652.90 26,074.23 32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66 55,743.53\nNet interest income 15,811.12 18,482.63 22,395.68 27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57 72,009.59\nOther income 6,852.62 7,919.64 8,996.34 10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89 29,509.90\nNet revenues 22,663.74 26,402.28 31,392.02 38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46 1,01,519.49\nOperating costs 11,236.11 12,042.20 13,987.55 16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63 37,442.19\nOperating result 11,427.63 14,360.08 17,404.47 21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83 64,077.30\nProvisions and contingencies : 1,677.01 1,588.03 2,075.75 2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85 15,061.83\nLoan loss provisions 1,234.21 1,632.58 1,723.58 2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19 10,119.38\nOthers 442.80 (44.56) 352.17 591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66 4,942.45\nProfit before tax 9,750.62 12,772.05 15,328.72 18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98 49,015.47\nProvision for taxation 3,024.34 4,293.67 5,112.80 6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46 12,054.12\nProfit after tax 6,726.28 8,478.38 10,215.92 12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52 36,961.35\nFunds :\nDeposits 2,96,246.98 3,67,337.48 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44\nSubordinated debt 16,586.75 16,643.05 16,254.90 15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00 21,795.25\nStockholders’ equity 36,214.15 43,478.63 62,009.42 72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94\nWorking funds 4,21,327.31 4,91,599.50 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05\nLoans 2,39,720.64 3,03,000.27 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93\nInvestments 1,11,303.21 1,00,111.88 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69\nKey Ratios :\nEarnings per share (`)1 14.24 17.74 21.08 24.42 28.59 33.88 39.33 48.01 56.58 66.80\nReturn on equity 20.07% 20.88% 20.36% 17.97% 18.04% 18.22% 16.30% 16.76% 16.60% 16.90%\nTier 1 capital ratio 11.08% 11.77% 13.66% 13.22% 12.79% 13.25% 15.78% 17.23% 17.56% 17.87%\nTotal capital ratio 16.80% 16.07% 16.79% 15.53% 14.55% 14.82% 17.11% 18.52% 18.79% 18.90%\nDividend per share (`)1 2.75 3.43 4.00 4.75 5.50 6.50 7.50 Nil 3 6.504 15.505\nDividend payout ratio 22.77% 22.68% 23.62% 23.51% 23.32% 23.26% 23.36% NA 3 11.54%4 23.28%5\nBook value per share as at March 31 (`)1 76.10 90.62 123.70 143.74 174.56 204.80 273.94 311.83 369.54 432.95\nMarket price per share as at March 31 (`)2 312.68 374.40 511.35 535.58 721.28 964.50 1,159.45 861.90 1,493.65 1,470.35\nPrice to earnings ratio 21.95 21.11 24.26 21.93 25.23 28.47 29.48 17.95 26.40 22.01\n` 1 Cr = ` 10 Million\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of\n` 2 each into two equity shares of nominal value of ` 1 each\n2\nSource : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3\nBasis RBI notifications dated April 17, 2020 and December 4, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_revenue_growth",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "1,01,519.49 crore, prior year: 90,084.46 crore",
      "golden_context": "Page 118:\n\n10 Year Financial Highlights\nContinuing our growth journey\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\n` Crore\n2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22\nInterest income 35,064.87 41,135.53 48,469.91 60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23 1,27,753.12\nInterest expense 19,253.75 22,652.90 26,074.23 32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66 55,743.53\nNet interest income 15,811.12 18,482.63 22,395.68 27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57 72,009.59\nOther income 6,852.62 7,919.64 8,996.34 10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89 29,509.90\nNet revenues 22,663.74 26,402.28 31,392.02 38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46 1,01,519.49\nOperating costs 11,236.11 12,042.20 13,987.55 16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63 37,442.19\nOperating result 11,427.63 14,360.08 17,404.47 21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83 64,077.30\nProvisions and contingencies : 1,677.01 1,588.03 2,075.75 2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85 15,061.83\nLoan loss provisions 1,234.21 1,632.58 1,723.58 2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19 10,119.38\nOthers 442.80 (44.56) 352.17 591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66 4,942.45\nProfit before tax 9,750.62 12,772.05 15,328.72 18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98 49,015.47\nProvision for taxation 3,024.34 4,293.67 5,112.80 6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46 12,054.12\nProfit after tax 6,726.28 8,478.38 10,215.92 12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52 36,961.35\nFunds :\nDeposits 2,96,246.98 3,67,337.48 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44\nSubordinated debt 16,586.75 16,643.05 16,254.90 15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00 21,795.25\nStockholders’ equity 36,214.15 43,478.63 62,009.42 72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94\nWorking funds 4,21,327.31 4,91,599.50 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05\nLoans 2,39,720.64 3,03,000.27 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93\nInvestments 1,11,303.21 1,00,111.88 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69\nKey Ratios :\nEarnings per share (`)1 14.24 17.74 21.08 24.42 28.59 33.88 39.33 48.01 56.58 66.80\nReturn on equity 20.07% 20.88% 20.36% 17.97% 18.04% 18.22% 16.30% 16.76% 16.60% 16.90%\nTier 1 capital ratio 11.08% 11.77% 13.66% 13.22% 12.79% 13.25% 15.78% 17.23% 17.56% 17.87%\nTotal capital ratio 16.80% 16.07% 16.79% 15.53% 14.55% 14.82% 17.11% 18.52% 18.79% 18.90%\nDividend per share (`)1 2.75 3.43 4.00 4.75 5.50 6.50 7.50 Nil 3 6.504 15.505\nDividend payout ratio 22.77% 22.68% 23.62% 23.51% 23.32% 23.26% 23.36% NA 3 11.54%4 23.28%5\nBook value per share as at March 31 (`)1 76.10 90.62 123.70 143.74 174.56 204.80 273.94 311.83 369.54 432.95\nMarket price per share as at March 31 (`)2 312.68 374.40 511.35 535.58 721.28 964.50 1,159.45 861.90 1,493.65 1,470.35\nPrice to earnings ratio 21.95 21.11 24.26 21.93 25.23 28.47 29.48 17.95 26.40 22.01\n` 1 Cr = ` 10 Million\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of\n` 2 each into two equity shares of nominal value of ` 1 each\n2\nSource : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3\nBasis RBI notifications dated April 17, 2020 and December 4, ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000467_segments",
      "report_id": "ID_000467",
      "company_name": "HDFC Bank",
      "year": 2022,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Treasury, retail banking, wholesale banking, other banking business, unallocated",
      "golden_context": "Page 281:\n\n26. Segment reporting\nBusiness segments\nBusiness segments have been identified and reported taking into account, the target customer profile, the nature of products\nand services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines\nprescribed by RBI. The Bank operates in the following segments:\na) Treasury\nThe treasury segment primarily consists of net interest earnings from the Bank’s investment portfolio, money market\nborrowing and lending, gains or losses on investment operations and on account of trading in foreign exchange and\nderivative contracts.\nb) Retail banking\nThe retail banking segment serves retail customers through the Bank’s branch network and other channels. This segment\nraises deposits from customers and provides loans and other services to customers with the help of specialist product\ngroups. Exposures are classified under retail banking taking into account the status of the borrower (orientation criterion),\nthe nature of product, granularity of the exposure and the quantum thereof.\nRevenues of the retail banking segment are derived from interest earned on retail loans, interest earned from other\nsegments for surplus funds placed with those segments, subvention received from dealers and manufacturers, fees from\nservices rendered, foreign exchange earnings on retail products, etc. Expenses of this segment primarily comprise interest\nexpense on deposits, commission paid to retail assets sales agents, infrastructure and premises expenses for operating\nthe branch network and other delivery channels, personnel costs, other direct overheads and allocated expenses of\nspecialist product groups, processing units and support groups.\n284\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\nc) Wholesale banking\nThe wholesale banking segment provides loans, non-fund facilities and transaction services to large corporates, emerging\ncorporates, public sector units, government bodies, financial institutions and medium scale enterprises. Revenues of the\nwholesale banking segment consist of interest earned on loans made to customers, interest / fees earned on the cash\nfloat arising from transaction services, earnings from trade services and other non-fund facilities and also earnings from\nforeign exchange and derivative transactions on behalf of customers. The principal expenses of the segment consist of\ninterest expense on funds borrowed from external sources and other internal segments, premises expenses, personnel\ncosts, other direct overheads and allocated expenses of delivery channels, specialist product groups, processing units\nand support groups.\nd) Other banking business\nThis segment includes income from parabanking activities such as credit cards, debit cards, third party product distribution,\nprimary dealership business and the associated costs.\ne) Unallocated\nAll items which are reckoned at an enterprise level are classified under this segment. This includes capital and reserves,\ndebt classified as Tier 1 or Tier 2 capital and other unallocable assets and liabilities such as deferred tax, prepaid expenses,\netc.\nSegment revenue includes earnings from external customers plus earnings from funds transferred to other segments.\nSegment result includes revenue less interest expense less operating expense and provisions, if any, for that segment.\nSegment-wise income and expenses include certain allocations. Interest income is charged by a segment that provides\nfunding to another segment, based on yields benchmarked to an internally approved yield curve or at a certain agreed\ntransfer price rate. Transaction charges are levied by the retail banking segment to the wholesale banking segment for\nthe use by its customers of the retail banking segment’s branch network or other delivery channels. Segment capital\nemployed represents the net assets in that segment.\nGeographic segments\nThe geographic segments of the Bank are categorised as domestic operations and foreign operations. Domestic operations\ncomprise branches in India and foreign operations comprise branches outside India.\nSegment reporting for the year ended March 31, 2022 is given below:\nBusiness segments:\n(` crore)\nSr.\nNo. Particulars Treasury Retail\nbanking\nWholesale\nbanking\nOther banking\noperations\nTotal\n1 Segment revenue 34,385.12 115,189.91 66,482.93 21,496.22 237,554.18\n2 Unallocated revenue (12.18)\n3 Less: Inter-segment revenue 80,278.99\n4 Income from operations (1) +\n(2) - (3)\n157,263.01\n5 Segment results 8,939.51 9,223.24 25,053.01 7,386.51 50,602.27\n6 Unallocated expenses 1,586.79\n7 Income tax expense (including\ndeferred tax)\n12,054.12\n8 Net profit (5) - (6) - (7) 36,961.36\n9 Segment assets 551,767.34 619,468.20 808,136.61 76,591.09 2,055,963.24\n10 Unallocated assets 12,571.81\n11 Total assets (9) + (10) 2,068,535.05\n12 Segment liabilities 77,273.63 1,292,339.74 413,825.31 5,994.76 1,789,433.44\n13 Unallocated liabilities 39,008.67\n14 Total liabilities (12) + (13) 1,828,442.11\nHDFC Bank Limited Integrated Annual Report 2021-22 285\nSchedules to the Financial Statements\nFor the year ended March 31, 2022\nSr.\nNo. Particulars Treasury Retail\nbanking\nWholesale\nbanking\nOther banking\noperations\nTotal\n15 Capital employed (9) - (12)\n(Segment assets - Segment\nliabilities)\n474,493.71 (672,871.54) 394,311.30 70,596.33 266,529.80\n16 Unallocated (10) - (13) (26,436.86)\n17 Total (15) + (16) 240,092.94\n18 Capital expenditure 24.69 2,393.81 229.00 148.63 2,796.13\n19 Depreciation 40.48 1,295.47 149.27 114.58 1,599.80\n20 Provisions for non - performing\nassets / others*\n(14.52) 9,932.56 1,954.52 3,180.87 15,053.43\n21 Unallocated other provisions* 8.40\n* Represents material non-cash charge other than depreciation and taxation.\nGeographic segments:\n(` crore)\nParticulars Domestic International\nRevenue 156,402.92 860.09\nAssets 2,010,500.52 58,034.53\nCapital expenditure 2,795.71 0.42\nSegment reporting for the year ended March 31, 2021 is given below:\nBusiness segments:\n(` crore)\nSr.\nNo. Particulars Treasury Retail\nbanking\nWholesale\nbanking\nOther banking\noperations\nTotal\n1 Segment revenue 32,337.67 110,210.21 57,154.30 19,937.53 219,639.71\n2 Unallocated revenue 30.82\n3 Less: Inter-segment revenue 73,607.41\n8 Net profit (5) - (6) - (7) 4 Income from operations\n(1) + (2) - (3)\n7 Income tax expense (including\ndeferred tax)\n15 146,063.12\n5 Segment results 9,030.50 10,574.80 17,437.54 6,207.14 43,249.98\n6 Unallocated expenses 1,590.99\n10,542.46\n31,116.53\n9 Segment assets 519,641.74 521,997.22 628,731.57 67,116.08 1,737,486.61\n10 Unallocated assets 9,383.91\n11 Total assets (9) + (10) 1,746,870.52\n12 Segment liabilities 76,276.60 1,096,217.82 338,115.31 5,857.65 1,516,467.38\n13 Unallocated liabilities 26,682.31\n14 Total liabilities (12) + (13) 1,543,149.69\n16 Unallocated (10) - (13) 17 Total (15) + (16) Capital employed (9) - (12)\n(Segment assets - Segment\nliabilities)\n20 Provisions for non - performing\nassets / others*\n443,365.14 (574,220.60) 290,616.26 61,258.43 221,019.23\n(17,298.40)\n203,720.83\n18 Capital expenditure 24.93 1,527.55 139.94 99.72 1,792.14\n19 Depreciation 36.74 1,047.40 118.18 100.09 1,302.41\n(16.82) 10,157.54 2,279.02 3,251.95 15,671.69\n21 Unallocated other provisions* 31.16\n* Represents material non-cash charge other than depreciation and taxation.\n286\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\nGeographic segments:\n(` crore)\nParticulars Domestic International\nRevenue 145,131.15 931.97\nAssets 1,703,283.63 43,586.89\nCapital expenditure ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_cash_flow",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 273,134,078k, investing: -24,288,813k, financing: 161,219,226k",
      "golden_context": "Page 225.\n\nCash Flow Statement\nFor the year ended March 31, 2023\n` in '000\nYear ended\nMarch 31, 2023\nYear ended\nMarch 31, 2022\nCash flows from operating activities:\nProfit before income tax 584,853,016 490,154,792\nAdjustments for:\nDepreciation on fixed assets 22,424,793 15,998,039\n(Profit) / loss on revaluation of investments 5,458,202 (15,463,977)\nAmortisation of premium on held to maturity investments 8,511,961 8,213,244\n(Profit) / loss on sale of fixed assets (82,875) 33,388\nProvision / charge for non performing assets 117,873,839 106,334,842\nProvision for standard assets and contingencies 1,322,746 49,569,684\nDividend from subsidiaries (8,109,753) (8,308,954)\nEmployee Stock Options / Units expense 7,488,973 3,259,696\n739,740,902 649,790,754\nAdjustments for:\nIncrease in investments (633,308,892) (121,951,685)\nIncrease in advances (2,435,526,411) (2,466,388,983)\nIncrease in deposits 3,241,772,063 2,241,572,192\nIncrease in other assets (594,093,460) (380,235,846)\nIncrease in other liabilities and provisions 109,307,200 75,178,971\n427,891,402 (2,034,597)\nDirect taxes paid (net of refunds) (154,757,324) (140,052,624)\nNet cash flows from / (used in) operating activities 273,134,078 (142,087,221)\nCash flows from investing activities:\nPurchase of fixed assets (32,804,687) (21,407,866)\nProceeds from sale of fixed assets 406,121 182,956\nDividend from subsidiaries 8,109,753 8,308,954\nNet cash flow used in investing activities (24,288,813) (12,915,956)\nCash flows from financing activities:\nProceeds from issue of share capital, net of issue expenses 34,158,331 26,097,614\nProceeds from issue of Tier 1 and Tier 2 capital bonds 230,000,000 81,627,500\nRedemption of Tier 1 and Tier 2 capital bonds (114,770,000) (36,500,000)\nIncrease in other borrowings 97,876,082 446,616,337\nDividend paid during the year (86,045,187) (35,923,960)\nNet cash flow from financing activities 161,219,226 481,917,491\nEffect of exchange fluctuation on translation reserve 4,317,096 1,650,973\nNet increase in cash and cash equivalents 414,381,587 328,565,287\nCash and cash equivalents as at April 1st (Schedule 6 + 7) 1,523,269,244 1,194,703,957\nCash and cash equivalents as at the year end (Schedule 6 + 7) 1,937,650,831 1,523,269,244\nAs per our report of even date For and on behalf of the Board\nFor M M Nissim & Co llp For Price Waterhouse llp Chartered Accountants Chartered Accountants Atanu Chakraborty Part-time Chairman of the Board Independent Director\nUmesh Chandra Sarangi\nICAI Firm Registration Number: ICAI Firm Registration Number:\n107122W/W100672 301112E/E300264 M. D. Ranganath Sandeep Parekh\nIndependent Director Independent Director\nSanjay Khemani Sharad Vasant\nPartner Partner Sanjiv SacharLily Vadera\nMembership Number: 044577 Membership Number: 101119 Independent Director Independent Director\nSashidhar Jagdishan Renu Karnad\nManaging Director & CEO Non-Executive Director\nKaizad Bharucha Srinivasan Vaidyanathan\nExecutive Director ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_company_type",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 3:\n\n. We\nprioritise customer needs and strive\nto ensure that each interaction leaves\na positive and lasting impression,\nstrengthening our bond with\ncustomers.\nSupporting businesses\nRecognising that businesses are\nthe backbone of the economy, we\nactively support their growth and\ndevelopment. Through tailored\nsolutions, expert advice, and\nextensive industry knowledge, we\nhelp businesses flourish.\nTaking banking to the\nunbanked\nBeyond serving the existing customer\nbase, the Bank is dedicated to take\nbanking to the unbanked population\nand bring financial inclusion to the\nless privileged sections of society.\nThrough various initiatives and\npartnerships, we extend our services\nto remote areas and economically\ndisadvantaged communities.\nBy providing access to banking\nfacilities, loans, and financial\nliteracy programmes, we empower\nindividuals and communities, helping\nthem overcome financial barriers and\nbuild a more secure future.\nEnabling Smart Banking\nWe are at the forefront of enabling\nsmart banking. Embracing digital\ninnovation, the Bank offers a\ncomprehensive suite of online and\nmobile banking services, which\nmake banking convenient, secure,\nand accessible anytime, anywhere.\nFrom mobile payments to seamless\nfund transfers and personalised\nfinancial management tools, we, at\nHDFC Bank, ensure that customers\nhave cutting-edge solutions at their\nfingertips.\nEmpowering communities\nAs a responsible corporate\ncitizen, the Bank goes beyond\nits role in the financial sector and\nactively contributes to community\ndevelopment. Through Corporate\nSocial Responsibility (CSR) initiatives,\nwe focus on education, healthcare,\nenvironmental sustainability, and skill\ndevelopment. By collaborating with\nNGOs, Government bodies, and local\ncommunities, HDFC Bank works\ntowards creating a positive impact on\nsociety, nurturing future leaders, and\nfostering sustainable development.\nUpholding highest standards\nWhile we create an unmatched\nexperience for our customers and\ncontribute to social upliftment,\nwe conduct business in a manner\nthat ensures ethical practices,\ntransparency, and accountability. It\ninvolves considering the interests\nof all stakeholders, including\ncustomers, employees, shareholders,\nthe Government and the wider\ncommunity.\nContributing to Nation\nbuilding\nHDFC Bank's responsible leadership\nis characterised by its unwavering\ndedication to delivering superior\ncustomer service, expanding\nfinancial access to the unbanked,\nsupporting businesses for growth,\nenabling smart banking, empowering\ncommunities, and contributing to the\nNation's development.\nWith a vision for a bigger and brighter future, HDFC Bank will continue to Lead Responsibly,\ndrive positive change and create value for all stakeholders.\nHDFC Bank Limited Integrated Annual Report 2022-23 1",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_key_financials",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "EPS: 79.3, profit after tax: 44,109 cr, deposits: 18,83,395 (in cr)",
      "golden_context": "Page 4:\n\nOur Performance\nBalance Sheet Size\n(K Cr)\n24,66,081\n+19.2%\nEarnings Per Share\n(K)\n79.3\n+18.6%\nAdvances\n(K Cr)\n16,00,586\n+16.9%\nDividend Per Share\n(K)\n19.0*\n*Proposed\n2\nProfit After Tax\n(K Cr)\n44,109\n+19.3%\nDeposits\n(K Cr)\n18,83,395\n+20.8%\nReturn On Equity\n(%)\n17.4\n+50 bps\nReturn on Assets\n(Average) (%)\n2.07\n12\n14\n22\n28\nWhat’s Inside\nChairman's Message\nWe stand at the cusp of a New Era\nMessage from the\nMD & CEO\nThe merger perhaps could not have\nbeen better timed\nBusiness Segments\nCatering to the diverse needs of our\ncustomers through a wid",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_revenue",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "net revenues: 1,18,057.05",
      "golden_context": "Page 152:\n\nProgressing on our journey\nC Crore\n2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23\nInterest income 41,135.53 48,469.91 60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23 1,27,753.12 1,61,585.54\nInterest expense 22,652.90 26,074.23 32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66 55,743.53 74,743.32\nNet interest income 18,482.63 22,395.68 27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57 72,009.59 86,842.22\nOther income 7,919.64 8,996.34 10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89 29,509.90 31,214.83\nNet revenues 26,402.28 31,392.02 38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46 1,01,519.49 1,18,057.05\nOperating costs 12,042.20 13,987.55 16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63 37,442.19 47,652.08\nOperating result 14,360.08 17,404.47 21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83 64,077.30 70,404.97\nProvisions and contingencies 1,588.03 2,075.75 2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85 15,061.83 11,919.66\nLoan loss provisions 1,632.58 1,723.58 2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19 10,119.38 11,783.25\nOthers (44.56) 352.17 591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66 4,942.45 136.41\nProfit before tax 12,772.05 15,328.72 18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98 49,015.47 58,485.31\nProvision for taxation 4,293.67 5,112.80 6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46 12,054.12 14,376.60\nProfit after tax 8,478.38 10,215.92 12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52 36,961.35 44,108.71\nFunds :\nDeposits 3,67,337.48 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44 18,83,394.65\nSubordinated debt 16,643.05 16,254.90 15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00 21,795.25 33,956.00\nStockholders’ equity 43,478.63 62,009.42 72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94 2,80,199.01\nWorking funds 4,91,599.50 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05 24,66,081.47\nLoans 3,03,000.27 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93 16,00,585.90\nInvestments 1,00,111.88 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69 5,17,001.43\nKey Ratios :\nEarnings per share (C)1 17.74 21.08 24.42 28.59 33.88 39.33 48.01 56.58 66.80 79.25\nReturn on equity Tier 1 capital ratio 11.77% 13.66% 13.22% 12.79% Total capital ratio 16.07% 16.79% 15.53% 14.55% 20.88% 20.36% 17.97% 18.04% C1 Crore = C10 Million\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of C2 each into two equity\nshares of nominal value of C1 each\n2Source : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3\n_x0007_ Basis RBI notifications dated April 17, 2020 and December 4, 2020\n4\n_x0007_ Basis RBI notification dated April 22, 2021\n5\n_x0007_ Proposed\n18.22% 16.30% 16.76% 16.60% 16.90% 17.39%\n13.25% 15.78% 17.23% 17.56% 17.87% 17.13%\n14.82% 17.11% 18.52% 18.79% 18.90% 19.26%\nDividend per share (C)1 3.43 4.00 4.75 5.50 6.50 7.50 Nil3 6.504 15.50 19.005\nDividend payout ratio 22.68% 23.62% 23.51% 23.32% 23.26% 23.36% NA3 11.54%4 23.28% 24.07%5\nBook value per share as at March 31 (C)1 90.62 123.70 143.74 174.56 204.80 273.94 311.83 369.54 432.95 502.17\nMarket price per share as at March 31 (C)2 374.40 511.35 535.58 721.28 964.50 1,159.45 861.90 1,493.65 1,470.35 1,609.55\nPrice to earnings ratio 21.11 24.26 21.93 25.23 28.47 29.48 17.95 26.40 22.01 20.31",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_revenue_growth",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "net revenues: 1,18,057.05, prior year: 1,01,519.49",
      "golden_context": "Page 152:\n\nProgressing on our journey\nC Crore\n2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23\nInterest income 41,135.53 48,469.91 60,221.45 69,305.96 80,241.35 98,972.05 1,14,812.65 1,20,858.23 1,27,753.12 1,61,585.54\nInterest expense 22,652.90 26,074.23 32,629.93 36,166.74 40,146.49 50,728.83 58,626.40 55,978.66 55,743.53 74,743.32\nNet interest income 18,482.63 22,395.68 27,591.52 33,139.22 40,094.86 48,243.22 56,186.25 64,879.57 72,009.59 86,842.22\nOther income 7,919.64 8,996.34 10,751.72 12,296.49 15,220.31 17,625.87 23,260.82 25,204.89 29,509.90 31,214.83\nNet revenues 26,402.28 31,392.02 38,343.24 45,435.71 55,315.17 65,869.09 79,447.07 90,084.46 1,01,519.49 1,18,057.05\nOperating costs 12,042.20 13,987.55 16,979.69 19,703.32 22,690.36 26,119.37 30,697.53 32,722.63 37,442.19 47,652.08\nOperating result 14,360.08 17,404.47 21,363.55 25,732.39 32,624.81 39,749.72 48,749.54 57,361.83 64,077.30 70,404.97\nProvisions and contingencies 1,588.03 2,075.75 2,725.61 3,593.30 5,927.49 7,550.08 12,142.39 15,702.85 15,061.83 11,919.66\nLoan loss provisions 1,632.58 1,723.58 2,133.63 3,145.30 4,910.43 6,394.11 9,083.32 11,450.19 10,119.38 11,783.25\nOthers (44.56) 352.17 591.98 448.00 1,017.06 1,155.97 3,059.07 4,252.66 4,942.45 136.41\nProfit before tax 12,772.05 15,328.72 18,637.94 22,139.09 26,697.32 32,199.64 36,607.15 41,658.98 49,015.47 58,485.31\nProvision for taxation 4,293.67 5,112.80 6,341.71 7,589.43 9,210.57 11,121.50 10,349.84 10,542.46 12,054.12 14,376.60\nProfit after tax 8,478.38 10,215.92 12,296.23 14,549.66 17,486.75 21,078.14 26,257.31 31,116.52 36,961.35 44,108.71\nFunds :\nDeposits 3,67,337.48 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44 18,83,394.65\nSubordinated debt 16,643.05 16,254.90 15,090.45 13,182.00 21,107.00 18,232.00 18,232.00 17,127.00 21,795.25 33,956.00\nStockholders’ equity 43,478.63 62,009.42 72,677.77 89,462.38 1,06,295.03 1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94 2,80,199.01\nWorking funds 4,91,599.50 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05 24,66,081.47\nLoans 3,03,000.27 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93 16,00,585.90\nInvestments 1,00,111.88 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69 5,17,001.43\nKey Ratios :\nEarnings per share (C)1 17.74 21.08 24.42 28.59 33.88 39.33 48.01 56.58 66.80 79.25\nReturn on equity Tier 1 capital ratio 11.77% 13.66% 13.22% 12.79% Total capital ratio 16.07% 16.79% 15.53% 14.55% 20.88% 20.36% 17.97% 18.04% C1 Crore = C10 Million\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of C2 each into two equity\nshares of nominal value of C1 each\n2Source : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3\n_x0007_ Basis RBI notifications dated April 17, 2020 and December 4, 2020\n4\n_x0007_ Basis RBI notification dated April 22, 2021\n5\n_x0007_ Proposed\n18.22% 16.30% 16.76% 16.60% 16.90% 17.39%\n13.25% 15.78% 17.23% 17.56% 17.87% 17.13%\n14.82% 17.11% 18.52% 18.79% 18.90% 19.26%\nDividend per share (C)1 3.43 4.00 4.75 5.50 6.50 7.50 Nil3 6.504 15.50 19.005\nDividend payout ratio 22.68% 23.62% 23.51% 23.32% 23.26% 23.36% NA3 11.54%4 23.28% 24.07%5\nBook value per share as at March 31 (C)1 90.62 123.70 143.74 174.56 204.80 273.94 311.83 369.54 432.95 502.17\nMarket price per share as at March 31 (C)2 374.40 511.35 535.58 721.28 964.50 1,159.45 861.90 1,493.65 1,470.35 1,609.55\nPrice to earnings ratio 21.11 24.26 21.93 25.23 28.47 29.48 17.95 26.40 22.01 20.31",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000468_segments",
      "report_id": "ID_000468",
      "company_name": "HDFC Bank",
      "year": 2023,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Wholesale banking, Retail banking, Treasury",
      "golden_context": "Page 23-24:\n\nBusiness Segments\nCatering to diverse\ncustomer needs\nWholesale Banking The Wholesale Banking business of HDFC Bank caters\nto a wide range of clients including Large Corporates,\nMultinational Corporations, Public Sector Enterprises,\nEmerging Corporates, and Business Banking/SMEs.\nThe Bank provides a comprehensive range of financial\nproducts and services such as loans, deposits,\npayments, collections, tax solutions, trade finance,\ncash management solutions, and even corporate\ncards. Through our products and services, we aim\nto act as a one-stop shop for various business\nneeds of customers in this segment. The Bank also\noffers customised solutions to cater to the specific\nrequirements of customers, along with providing\ndedicated relationship managers who serve as a\nsingle point of contact for all banking needs. With its\nextensive experience in serving the wholesale segment,\nHDFC Bank has built a strong reputation for delivering\nquality and reliable services to its customers.\nOur offerings\nLoans and Deposits\nWorking capital facilities, term lending, project finance,\nsupply chain financing, export finance, trade credit and\nwholesale deposits.\nInvestment Banking\nCapital finance through debt/equity capital markets,\nmergers & acquisitions, IPOs, private equity, venture\ncapital fund raising, loan syndication and customised\nsolutions.\nOther Banking Products and Services\nForex & derivatives, custodial services, cash\nmanagement services, letters of credit, guarantees and\ncorrespondent banking.\n22\nRetail Banking\nHDFC Bank's Retail business is dedicated to serving\nindividuals, salaried professionals, micro and small-\nsized businesses such as kirana stores, Self Help\nGroups (SHGs), and Non-Resident Indians (NRIs).\nThe Bank's goal is to create and customise products\nand services that meet the unique needs of this\nsegment. Key products and services offered include\nsavings and current accounts, loans for personal\nand business needs, credit and debit cards, digital\nwallets, insurance products, investment products\nand remittance services. The Bank strives to provide\na seamless and convenient customer experience\nthrough digital solutions such as MobileBanking,\nNetBanking, and ChatBot support.\nLoan products\nPersonal, auto, home, gold, two-wheeler, small-ticket\nworking capital, offshore, agri and tractor, healthcare\nfinance, commercial vehicle & equipment finance,\ninfrastructure finance and loan against securities.\nAccounts and Deposits\nSavings, Current and Corporate Salary Accounts, NRI\nDeposits, Fixed and Recurring Deposits\nOther products and services\nCredit, Debit and Prepaid Cards, Digital Wallets, Wealth\nManagement Solutions, Kisan Gold Card.\nA distributor of Mutual Funds, Life, General and Health\nInsurance.\nOverview\nIntroduction to\nHDFC Bank\nOur\nPerformance\nHow We\nCreate Value\nOur\nStrategy\nResponsible\nBusiness\nStatutory Reports and\nFinancial Statements\nTreasury\nThe Treasury department is responsible for\nsafeguarding the Bank's cash and liquid assets, as\nwell as handling its investments in securities and other\nmarket instruments. It manages the balance sheet's\nliquidity and interest rate risks and ensures compliance\nwith statutory reserve requirements. It manages the\ntreasury needs of customers and earns a fee income\ngenerated from transactions customers undertake with\nyour Bank, while managing their foreign exchange and\ninterest rate risks.\nServices offered to customers\nForeign exchange and derivatives’ transactions,\nsolutions on hedging strategies, trade solutions –\ndomestic and cross border, bullion demands and\nothers.\nKey functions performed\nManages the asset liability of the Bank, maintains\na portfolio of Government securities in line with\nregulatory norms of RBI and others, manages the\nliquidity and interest rate risks on the balance sheet,\nand is also responsible for meeting statutory reserve\nrequirements.\nOur Edge\nWe are the Preferred Banker of Choice\nacross segments and this is enabled\nby:\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\n•\nDelivery of best-in-class services\nthrough customised solutions,\nproducts and through optimum use\nof technology\nStrong product proposition for\nNRIs through branches in India and\noverseas\nMarket leader in almost every asset\ncategory with best-in-class portfolio\nquality\nPioneer and strong player in the\ndigital loan marketplace\nProviding customers with a product\nsuite across all asset classes for\n'optimal asset allocation' depending\non clients’ risk profiles and goals\nStrong presence in Payments\nBusiness\nBeing a market leader in Cash\nManagement Services\nOpen architecture, best-in-class\nportfolio quality and regular portfolio\nrebalancing\nRobust Risk Management practices\nacross all businesses and activities\nSolutions for non-residents hedging\nneeds in Indian markets\nIntegrated trade and treasury\nsolution for customers\nPrimary dealer for Government\nsecurities",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_cash_flow",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 350,149,646k, investing: 70,941,730k, financing: -222,369,351k",
      "golden_context": "Page 288-290:\n\nS TA N D A L O N E C A S H F L O W For the year ended March 31, 2024\nS TAT E M E N T\nYear ended\nMarch 31, 2024\n(` in ‘000)\nYear ended\nMarch 31, 2023\nCash flows from operating activities:\nProfit before income tax 708,953,051 584,853,016\nAdjustments for:\nDepreciation on fixed assets 28,100,988 22,424,793\n(Profit) / loss on revaluation of investments (9,434,922) 5,458,202\nAmortisation of premium on held to maturity investments 8,449,479 8,511,961\nProfit on sale of fixed assets (738,174) (82,875)\nProfit on sale of investment in subsidiary (73,414,237) -\nProvision / charge for non performing assets 107,748,189 117,873,839\nFloating provisions 109,000,000 -\nProvision for standard assets and contingencies 18,173,261 1,322,746\nDividend from subsidiaries (13,323,911) (8,109,753)\nEmployee Stock Options / Units expense 15,474,040 7,488,973\n898,987,764 739,740,902\nAdjustments for:\nIncrease in investments (548,336,186) (633,308,892)\nIncrease in advances (2,894,442,171) (2,435,526,411)\nIncrease in deposits 3,391,324,138 3,241,772,063\nIncrease in other assets (292,254,127) (594,093,460)\n(Decrease) / Increase in other liabilities and provisions (6,692,396) 109,307,200\n548,587,022 427,891,402\nDirect taxes paid (net of refunds) (198,437,376) (154,757,324)\nNet cash flows from operating activities 350,149,646 273,134,078\nCash flows from investing activities:\nPurchase of fixed assets (38,348,940) (32,804,687)\nProceeds from sale of fixed assets 960,042 406,121\nProceeds from sale of investment in subsidiary (net) 95,006,717 -\nDividend from subsidiaries 13,323,911 8,109,753\nNet cash flow from / (used in) investing activities 70,941,730 (24,288,813)\nCash flows from financing activities:\nProceeds from exercise of convertible equity warrants 31,928,121 -\nProceeds from issue of share capital other than warrants 52,497,323 34,158,331\n2 9 2\nHDFC Bank Limited\nS TA N D A L O N E C A S H F L O W For the year ended March 31, 2024\nS TAT E M E N T\nYear ended\nMarch 31, 2024\nProceeds from issue of Tier 1 and Tier 2 capital instruments (` in ‘000)\nYear ended\nMarch 31, 2023\n- 230,000,000\nRedemption of Tier 1 and Tier 2 capital instruments- (Decrease) / Increase in other borrowings (222,750,573) 97,876,082\nDividend paid during the year Net cash flow (used in) / from financing activities (114,770,000)\n(222,369,351) (84,044,222) (86,045,187)\n161,219,226\nEffect of fluctuation in foreign currency translation reserve 1,012,629 4,317,096\nNet increase in cash and cash equivalents 199,734,654 414,381,587\nCash and cash equivalents at the beginning of the year 1,937,650,831 1,523,269,244\nCash and cash equivalents acquired on amalgamation 54,088,696 -\nCash and cash equivalents at the end of the year 2,191,474,181 1,937,650,831\nCash and cash equivalents include Cash and balances with Reserve Bank of India and Balances with banks and money at call and short notice\n(Refer Schedule 6 and Schedule 7).\nAs per our report of even date For and on behalf of the Board\nFor M M Nissim & Co LLP For Price Waterhouse LLP Atanu Chakraborty Sashidhar Jagdishan\nChartered Accountants Chartered Accountants Part-time Chairman of the Board Managing Director & CEO\nICAI Firm Registration Number: ICAI Firm Registration Number:\n107122W/W100672 301112E/E300264 Kaizad Bharucha Sandeep Parekh\nDeputy Managing Director Independent Director\nSanjay Khemani Sharad Vasant\nPartner Partner Sunita Maheshwari Lily Vadera\nMembership Number: 044577 Membership Number: 101119 Independent Director Independent Director\nHarsh Kumar Bhanwala Bhavesh Zaveri\nIndependent Director Executive Director\nV. S. Rangan Renu Karnad\nExecutive Director Non-Executive Director\nKeki Mistry Srinivasan Vaidyanathan\nNon-Executive Director Chief Financial Officer\nMumbai, April 20, 2024 Santosh Haldankar\nCompany Secretary\nIntegrated Annual Report 2023-24 2 9 3\nS C H E D U L E S S C H E D U L E S T O T O T H E T H E S TA N D A L O N E F I N A N C I A L As at March 31, 2024\nFor the year ended March 31, 2024\nB A L A N C E S TAT E M E N T S\nS H E E T\nSCHEDULE 1 - CAPITAL\nSchedule As at\nMarch 31, 2024\n(` in ‘000)\nAs at\nMarch 31, 2023\nAuthorised capital\n11,90,61,00,000 (31 March, 2023: 6,50,00,00,000) Equity Shares of ` 1/- each 11,906,100 6,500,000\nIssued, subscribed and paid-up capital\n7,59,69,10,662 (31 March, 2023: 5,57,97,42,786) Equity Shares of ` 1/- each 7,596,911 5,579,743\nTotal 7,596,911 5,579,743\nSCHEDULE 2 - RESERVES AND SURPLUS\nSchedule As at\nMarch 31, 2024\n(` in ‘000)\nAs at\nMarch 31, 2023\nI Statutory Reserve\nOpening balance 626,280,835 516,009,081\nAdditions on amalgamation 18 (1) 80,557,280 -\nAdditions during the year 18 (5) 152,030,697 110,271,754\nTotal 858,868,812 626,280,835\nII General Reserve\nOpening balance 248,677,940 204,569,238\nAdditions on amalgamation 18 (1) 229,023,281 -\nAdditions during the year 18 (5) 60,825,698 44,108,702\nTotal 538,526,919 248,677,940\nIII Share Premium\nOpening balance 665,394,291 631,191,682\nAdditions on amalgamation 18 (1) 517,288,313 -\nAdditions during the year 87,850,318 34,202,609\nTotal 1,270,532,922 665,394,291\nIV Special Reserve\nOpening balance 5,000,000 -\nAdditions on amalgamation 18 (1) 227,681,815 -\nAdditions during the year 18 (5) 30,000,000 5,000,000\nTotal 262,681,815 5,000,000\nV Amalgamation Reserve - I\nOpening balance 10,635,564 10,635,564\nAdditions / (deductions) during the year - -\nTotal 18 (5) 10,635,564 10,635,564\n2 9 4\nHDFC Bank Limited\nOverview Introduction Our Performance How We Create Value Our Strategy Responsible Business Statutory Reports and\nFinancial Statements\nSchedule As at\nMarch 31, 2024\n(` in ‘000)\nAs at\nMarch 31, 2023\nVI Amalgamation Reserve - II\nOpening balance - -\nAdditions / (deductions) on amalgamation 18 (1) (139,470,590) -\nTotal 18 (5) (139,470,590) -\nVII Capital Reserve\nOpening balance 56,275,415 56,229,288\nAdditions on amalgamation 18 (1) 414 -\nAdditions during the year 18 (5) 41,665,955 46,127\nTotal 97,941,784 56,275,415\nVIII Investment Reserve Account\nOpening balance- 2,947,976\nAdditions during the year 18 (5) 5,294,222 1,077,231\nDeductions during the year - (4,025,207)\nTotal 5,294,222 -\nIX\nInvestment Fluctuation Reserve\nOpening balance 37,010,000 36,190,000\nAdditions on amalgamation 18 (1) 9,530,000 -\nAdditions during the year 18 (5) 3,780,000 820,000\nTotal 50,320,000 37,010,000\nX\nForeign Currency Translation Reserve\nOpening balance 7,788,451 3,471,355\nAdditions during the year 1,012,629 4,317,096\nTotal 18 (5) 8,801,080 7,788,451\nXI\nCash Flow Hedge Reserve\nOpening balance (922,314) (976,777)\nAdditions on amalgamation ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_company_type",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 6:\n\nainability Report (BRSR), BRSR\nCore and United Nations Sustainable\nDevelopment Goals (UN SDGs). The Bank\nis committed to the improvement of data\nquality, continuous adoption of evolving\nguidance against reporting standards\nand learning from industry practices. This\nendeavor has prompted some necessary\nrestatements to the historical data shared\nin the report. Significant restatements\nare highlighted and explained in the\nnotes accompanying the relevant KPIs,\nproviding stakeholders with detailed\ninformation about the reasons for and\nimplications of these adjustments.\nMateriality and Scope\nThis report includes information which is\nmaterial to all stakeholders of the Bank\nand provides an overview of its business\nand related activities. The report discloses\nmatters that substantially impact or affect\nthe Bank’s ability to create value and\ncould influence decisions of providers of\nfinancial capital. In FY23, we conducted\na materiality assessment in accordance\nwith the updated GRI Standards 2021. In\nFY24, the material matters thus identified\nwere reviewed and refreshed to integrate\nthe concept of double materiality. These\nreprioritised matters now represent topics\nwhich are not only relevant with respect to\ntheir financial significance to our business\nbut also in terms of potential impacts on\nthe planet and the society. For GRI topics\nand relevant disclosures, please refer\nto the GRI Content Index, provided in\nthe report.\nRead more on pg. 38\nReporting Boundary\nThe non-financial information in this\nreport covers the activities and progress\nof the Bank on a standalone basis.\nDuring the financial year 23-24 erstwhile\nHDFC Investments Limited (\"eHDFC\nInvestments\") and erstwhile HDFC\nHoldings Limited (\"eHDFC Holdings\"),\nmerged with and into erstwhile Housing\nDevelopment Finance Corporation\nLimited (“eHDFC Limited”) and thereafter\neHDFC Limited merged with and into\nHDFC Bank Limited , thus the non-\nfinancial information of the Bank for the\nyear ended March 31, 2024 includes the\ninformation from the operations of eHDFC\nLimited, eHDFC Investments and eHDFC\nHoldings for the period from July 01,\n2023 to March 31, 2024.The report covers\ninformation pertaining to the period from\nApril 1, 2023 to March 31, 2024.\nFurther, in order to ensure consistency\nand completeness of the non-financial\ninformation, the Bank has adopted certain\nmethodologies/assumptions with respect\nto scope 1 emissions, which are different\nthan those adopted in the previous\nfinancial year and appropriate notes have\nbeen given to explain the same under the\n‘Environment’ section.\nAs a result of the merger and changes\nas mentioned above, the non-financial\ninformation of the Bank for the year ended\nMarch 31, 2024 is not comparable with\nthat of the previous financial year.\nThe last year report was published for the\nperiod April 1, 2022 to March 31, 2023.\nThe Integrated Report for FY23 can be\naccessed here\nAssurance Statement\nReasonable assurance on BRSR Core\nKPIs and limited assurance on the\nIdentified Sustainability Information in\nthe BRSR & Integrated Annual Report\nrespectively has been provided by Price\nWaterhouse LLP, in accordance with the\nStandard on Sustainability Assurance\nEngagements 3000 “Assurance\nEngagements on Sustainability\nInformation” and the Standard on\nAssurance Engagements 3410\n“Assurance Engagements on Greenhouse\nGas Statements”, both issued by the\nSustainability Reporting Standards Board\nof the ICAI and the International Standard\non Assurance Engagement (“ISAE”) 3000\n(Revised) “Assurance Engagements\nother than Audits or Reviews of Historical\nFinancial Information” and the ISAE 3410\n“Assurance Engagements on Greenhouse\nGas Statements”. The assurance reports\nattached contains details of the subject\nmatter, criteria, procedures performed,\nand reasonable assurance opinion\nand limited assurance conclusion,\nas applicable.\nResponsibility Statement\nThe content of this report has been\nreviewed by the Senior Management of\nthe Bank and is reviewed and approved\nby the Board of Directors to ensure\naccuracy, completeness and relevance\nof the information presented in line with\nthe principles and requirements of the\nIntegrated Reporting <IR> Framework.\nGovernance over Integrated\nReporting Process\nThe FY24 Integrated Annual Report\nreflects a rigorous organisation-wide\nprocess, overseen by the Group\nExecutives and the Board, showcasing\nthe organisation’s integrated thinking. Led\nby the Group CFO, the report draws from\nextensive discussions across multiple\nfunctions, board minutes & discussions\nand aligns with the Integrated Reporting\nFramework. Following multiple drafts\nand reviews, the final approval process,\nconducted by the CFO and Senior\nManagement, ensures accuracy before\npresentation to the Board of Directors.\n0 4\nHDFC Bank Limited",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_key_financials",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "deposits: 23,79,786 cr, profit after tax: 60,812 cr, EPS: 85.8",
      "golden_context": "Page 5:\n\nOur Performance\nBalance Sheet Size (K Cr)\n36,17,623\n46.7%\nProfit After Tax (K Cr)\n60,812\n37.9%\nEarnings Per Share (K)\n85.8\n8.2%\nDeposits (K Cr)\n23,79,786\n26.4%\nAdvances (K Cr)\n24,84,862\n55.2%\nReturn On Equity (%)\n16.1\nDividend Per Share (K)\n19.5^\nReturn on Assets\n(Average) (%)\n1.98\nCost to Income\nRatio (%)\n40.2\n^Proposed\nNote: The figures for the year ended March 31, 2024 include the operations of erstwhile HDFC Limited which amalgamated with and into HDFC Bank\non July 01, 2023 and hence the comparisons with the previous periods have to be looked at in light of the same.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_revenue",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Net revenues: 1,57,773.48 crore",
      "golden_context": "Page 197:\n\n1 0 Y E A R F I N A N C I A L H I G H L I G H T S\nUnparalleled Progress\n2014-15 2015-16 2016-17 2017-18 Interest income 48,469.91 60,221.45 69,305.96 80,241.35 Interest expense 26,074.23 32,629.93 36,166.74 40,146.49 Net interest income 22,395.68 27,591.52 33,139.22 40,094.86 Other income 8,996.34 10,751.72 12,296.49 15,220.31 Net revenues 31,392.02 38,343.24 45,435.71 55,315.17 Operating costs 13,987.55 16,979.69 19,703.32 22,690.36 Operating result 17,404.47 21,363.55 25,732.39 32,624.81 Provisions and contingencies 2,075.75 2,725.61 3,593.30 5,927.49 Loan loss provisions 1,723.58 2,133.63 3,145.30 4,910.43 Others 352.17 591.98 448.00 1,017.06 Profit before tax 15,328.72 18,637.94 22,139.09 26,697.32 Provision for taxation 5,112.80 6,341.71 7,589.43 9,210.57 Profit after tax 10,215.92 12,296.23 14,549.66 17,486.75 Funds :\nDeposits 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 Subordinated debt 16,254.90 15,090.45 13,182.00 21,107.00 Stockholders’ equity 62,009.42 72,677.77 89,462.38 1,06,295.03 Working funds 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 Loans 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 Investments 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 Key Ratios :\nEarnings per share (H)1 21.08 24.42 28.59 33.88 Return on equity 20.36% 17.97% 18.04% 18.22% Tier 1 capital ratio 13.66% 13.22% 12.79% 13.25% Total capital ratio 16.79% 15.53% 14.55% 14.82% Dividend per share (H)1 4.00 4.75 5.50 6.50 Dividend payout ratio 23.62% 23.51% 23.32% 23.26% Book value per share as at March 31 (H)1 123.70 143.74 174.56 204.80 Market price per share as at March 31 (H)2 511.35 535.58 721.28 964.50 Price to earnings ratio 24.26 21.93 25.23 28.47 H 1 Crore = H 10 Million\nThe figures for the year ended March 31, 2024 include the operations of erstwhile HDFC Ltd which amalgamated with and into HDFC Bank on July\n01, 2023 and hence the comparisons with the previous periods have to be looked at in light of the same\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of H 2 each into two\nequity shares of nominal value of H 1 each\n2 Source : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3 Basis RBI notifications dated April 17, 2020 and December 4, 2020\n4 Basis RBI notification dated April 22, 2021\n5 Proposed\n2 0 0\nHDFC Bank Limited Overview Introduction Our Performance How We Create Value Our Strategy Responsible Business Statutory Reports and\nFinancial Statements\nH Crore\n2018-19 2019-20 2020-21 2021-22 2022-23 2023-24\n98,972.05 1,14,812.65 1,20,858.23 1,27,753.12 1,61,585.54 2,58,340.58\n50,728.83 58,626.40 55,978.66 55,743.53 74,743.32 1,49,808.10\n48,243.22 56,186.25 64,879.57 72,009.59 86,842.22 1,08,532.48\n17,625.87 23,260.82 25,204.89 29,509.90 31,214.83 49,241.00\n65,869.09 79,447.07 90,084.46 1,01,519.49 1,18,057.05 1,57,773.48\n26,119.37 30,697.53 32,722.63 37,442.19 47,652.08 63,386.02\n39,749.72 48,749.54 57,361.83 64,077.30 70,404.97 94,387.46\n7,550.08 12,142.39 15,702.85 15,061.83 11,919.66 23,492.15\n6,394.11 9,083.32 11,450.19 10,119.38 11,783.25 10,764.66\n1,155.97 3,059.07 4,252.66 4,942.45 136.41 12,727.49\n32,199.64 36,607.15 41,658.98 49,015.47 58,485.31 70,895.31\n11,121.50 10,349.84 10,542.46 12,054.12 14,376.60 10,083.03\n21,078.14 26,257.31 31,116.52 36,961.35 44,108.71 60,812.28\n9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44 18,83,394.65 23,79,786.28\n18,232.00 18,232.00 17,127.00 21,795.25 33,956.00 34,079.50\n1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94 2,80,199.01 4,40,245.81\n12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05 24,66,081.47 36,17,623.09\n8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93 16,00,585.90 24,84,861.52\n2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69 5,17,001.43 7,02,414.96\n39.33 48.01 56.58 66.80 79.25 85.83\n16.30% 16.76% 16.60% 16.90% 17.39% 16.10%\n15.78% 17.23% 17.56% 17.87% 17.13% 16.79%\n17.11% 18.52% 18.79% 18.90% 19.26% 18.80%\n7.50 Nil3 6.504 15.50 19.00 19.505\n23.36% NA3 11.54%4 23.28% 24.07% 24.38%5\n273.94 311.83 369.54 432.95 502.17 579.51\n1,159.45 861.90 1,493.65 1,470.35 1,609.55 1,447.90\n29.48 17.95 26.40 22.01 20.31 16.87",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_revenue_growth",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenues: 1,57,773.48 crore, prior year: 1,18,057.05 crore",
      "golden_context": "Page 197:\n\n1 0 Y E A R F I N A N C I A L H I G H L I G H T S\nUnparalleled Progress\n2014-15 2015-16 2016-17 2017-18 Interest income 48,469.91 60,221.45 69,305.96 80,241.35 Interest expense 26,074.23 32,629.93 36,166.74 40,146.49 Net interest income 22,395.68 27,591.52 33,139.22 40,094.86 Other income 8,996.34 10,751.72 12,296.49 15,220.31 Net revenues 31,392.02 38,343.24 45,435.71 55,315.17 Operating costs 13,987.55 16,979.69 19,703.32 22,690.36 Operating result 17,404.47 21,363.55 25,732.39 32,624.81 Provisions and contingencies 2,075.75 2,725.61 3,593.30 5,927.49 Loan loss provisions 1,723.58 2,133.63 3,145.30 4,910.43 Others 352.17 591.98 448.00 1,017.06 Profit before tax 15,328.72 18,637.94 22,139.09 26,697.32 Provision for taxation 5,112.80 6,341.71 7,589.43 9,210.57 Profit after tax 10,215.92 12,296.23 14,549.66 17,486.75 Funds :\nDeposits 4,50,795.65 5,46,424.19 6,43,639.66 7,88,770.64 Subordinated debt 16,254.90 15,090.45 13,182.00 21,107.00 Stockholders’ equity 62,009.42 72,677.77 89,462.38 1,06,295.03 Working funds 5,95,695.13 7,40,796.07 8,63,840.19 10,63,934.32 Loans 3,65,495.04 4,64,593.96 5,54,568.20 6,58,333.09 Investments 1,56,833.82 1,95,836.29 2,14,463.34 2,42,200.24 Key Ratios :\nEarnings per share (H)1 21.08 24.42 28.59 33.88 Return on equity 20.36% 17.97% 18.04% 18.22% Tier 1 capital ratio 13.66% 13.22% 12.79% 13.25% Total capital ratio 16.79% 15.53% 14.55% 14.82% Dividend per share (H)1 4.00 4.75 5.50 6.50 Dividend payout ratio 23.62% 23.51% 23.32% 23.26% Book value per share as at March 31 (H)1 123.70 143.74 174.56 204.80 Market price per share as at March 31 (H)2 511.35 535.58 721.28 964.50 Price to earnings ratio 24.26 21.93 25.23 28.47 H 1 Crore = H 10 Million\nThe figures for the year ended March 31, 2024 include the operations of erstwhile HDFC Ltd which amalgamated with and into HDFC Bank on July\n01, 2023 and hence the comparisons with the previous periods have to be looked at in light of the same\n1\n_x0007_ Figures for the years prior to 2019-2020 have been adjusted to reflect the effect of split of equity shares from nominal value of H 2 each into two\nequity shares of nominal value of H 1 each\n2 Source : NSE (prices for years prior to 2019-2020 have been divided by two to reflect the sub-division of shares)\n3 Basis RBI notifications dated April 17, 2020 and December 4, 2020\n4 Basis RBI notification dated April 22, 2021\n5 Proposed\n2 0 0\nHDFC Bank Limited Overview Introduction Our Performance How We Create Value Our Strategy Responsible Business Statutory Reports and\nFinancial Statements\nH Crore\n2018-19 2019-20 2020-21 2021-22 2022-23 2023-24\n98,972.05 1,14,812.65 1,20,858.23 1,27,753.12 1,61,585.54 2,58,340.58\n50,728.83 58,626.40 55,978.66 55,743.53 74,743.32 1,49,808.10\n48,243.22 56,186.25 64,879.57 72,009.59 86,842.22 1,08,532.48\n17,625.87 23,260.82 25,204.89 29,509.90 31,214.83 49,241.00\n65,869.09 79,447.07 90,084.46 1,01,519.49 1,18,057.05 1,57,773.48\n26,119.37 30,697.53 32,722.63 37,442.19 47,652.08 63,386.02\n39,749.72 48,749.54 57,361.83 64,077.30 70,404.97 94,387.46\n7,550.08 12,142.39 15,702.85 15,061.83 11,919.66 23,492.15\n6,394.11 9,083.32 11,450.19 10,119.38 11,783.25 10,764.66\n1,155.97 3,059.07 4,252.66 4,942.45 136.41 12,727.49\n32,199.64 36,607.15 41,658.98 49,015.47 58,485.31 70,895.31\n11,121.50 10,349.84 10,542.46 12,054.12 14,376.60 10,083.03\n21,078.14 26,257.31 31,116.52 36,961.35 44,108.71 60,812.28\n9,23,140.93 11,47,502.29 13,35,060.22 15,59,217.44 18,83,394.65 23,79,786.28\n18,232.00 18,232.00 17,127.00 21,795.25 33,956.00 34,079.50\n1,49,206.32 1,70,986.03 2,03,720.83 2,40,092.94 2,80,199.01 4,40,245.81\n12,44,540.69 15,30,511.26 17,46,870.52 20,68,535.05 24,66,081.47 36,17,623.09\n8,19,401.22 9,93,702.88 11,32,836.63 13,68,820.93 16,00,585.90 24,84,861.52\n2,93,116.07 3,91,826.66 4,43,728.29 4,55,535.69 5,17,001.43 7,02,414.96\n39.33 48.01 56.58 66.80 79.25 85.83\n16.30% 16.76% 16.60% 16.90% 17.39% 16.10%\n15.78% 17.23% 17.56% 17.87% 17.13% 16.79%\n17.11% 18.52% 18.79% 18.90% 19.26% 18.80%\n7.50 Nil3 6.504 15.50 19.00 19.505\n23.36% NA3 11.54%4 23.28% 24.07% 24.38%5\n273.94 311.83 369.54 432.95 502.17 579.51\n1,159.45 861.90 1,493.65 1,470.35 1,609.55 1,447.90\n29.48 17.95 26.40 22.01 20.31 16.87",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000469_segments",
      "report_id": "ID_000469",
      "company_name": "HDFC Bank",
      "year": 2024,
      "country": "IN",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Wholesle banking, retail banking, treasury",
      "golden_context": "Page 29:\n\nB U S I N E S S S E G M E N T S\nCatering to a\nDiverse Customer Base\nWholesale Banking\nThe Wholesale Banking Business of\nHDFC Bank serves a diverse clientele\nincluding Large Corporates, Multinational\nCorporations, Government, Public Sector\nEnterprises, Emerging Corporates and\nBusiness Banking/SMEs. Offering a wide\narray of financial products and services\nsuch as loans, deposits, payments,\ncollections, tax solutions, trade finance,\ncash management solutions and\ncorporate cards, the Bank aims to be a\none-stop shop for catering to the diverse\nbusiness needs of customers in this\nsegment. We provide tailored solutions\nto meet specific customer requirements.\nWith extensive experience in serving\nthe Wholesale Segment, HDFC Bank\nhas earned a strong reputation for\ndelivering quality and reliable services\nto its customers. Post-merger, the\nBank inherited the realty finance\nbusiness. It has commenced offering\nConstruction Finance facilities to mainly\nwell established borrowers with a strong\ntrack record. This business largely\ncovers the rental discounting business as\nwell as construction finance.\nRetail Banking\nHDFC Bank's Retail Business caters\nto a varied client base which includes\nIndividuals, salaried professionals,\nsmall businesses like kirana stores,\nand Non-Resident Indians (NRIs). The\nBank's objective is to develop and tailor\nproducts and services that address\nthe distinct requirements of these\ncustomers. Among the offerings are\nSavings and Current Accounts, various\nloan options for personal and business\nneeds, Credit and Debit Cards, Digital\nWallets, Insurance and Investment\nProducts and Remittance Services. Post\nthe merger, we have expanded our suite\nto include housing finance across various\nsegments. We combine our physical and\ndigital capabilities with sound expertise\nto ensure a smooth and convenient\ncustomer experience.\nTreasury\nThe Treasury department is responsible\nfor managing the Bank's liquidity\nrequirements, as well as handling its\ninvestments in securities and other\nmarket instruments. It manages the\nbalance sheet's liquidity and interest\nrate risks and ensures compliance\nwith statutory reserve requirements.\nIt also manages the treasury needs\nof customers and earns a fee income\ngenerated from transactions customers\nundertake with your Bank, while\nmanaging their foreign exchange and\ninterest rate risks.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_cash_flow",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 3909m, investing: -2781m, financing: -1,661m",
      "golden_context": "Page 148:\n\nINANCIAL STATEMENTS\nCONSOLIDATED STATEMENT OF CASH FLOWS\nUS$m Notes\nYear ended\n31 December\n2021\nYear ended\n31 December\n2020\n(7,434) (8,510)\n3,909 2,357\nCASH FLOWS FROM OPERATING ACTIVITIES\nProfit before tax 8,468 7,270\nAdjustments for:\nFinancial investments (22,637) (26,100)\nInsurance and investment contract liabilities, and deferred\nacquisition and origination costs 17,953 23,159\nObligations under repurchase agreements 31 (102) (280)\nReinsurance commission related to acquisition of subsidiaries– (131)\nOther non-cash operating items, including investment income and\nthe effect of exchange rate changes on certain operating items Operating cash items:\nInterest received 7,410 7,054\nDividends received 1,129 961\nInterest paid (47) (39)\nTax paid (831) (1,027)\nNet cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES\nPayments for intangible assets 15 (640) (254)\nDistribution or dividend from associates 16– 3\nPayments for increase in interest of joint ventures 16 (27) (9)\nPrepayment for investment in an associate 24 (1,865)–\nProceeds from sales of investment property and property,\nplant and equipment 17, 18 5–\nPayments for investment property and property, plant and equipment 17, 18 (238) (120)\nAcquisition of subsidiaries, net of cash acquired 5 (16) (839)\nNet cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES\nIssuances of medium-term notes and securities 30 2,079 2,792\nRedemption of medium-term notes 30 (1,002)–\nProceeds from other borrowings 30 1,959 934\nRepayment of other borrowings 30 (1,959) (934)\nCapital contributions from non-controlling interest 11–\nAcquisition of non-controlling interests– (3)\nPayments for lease liabilities(1) (170) (180)\nInterest paid on medium-term notes and securities (303) (225)\nDividends paid during the year (2,175) (2,002)\nPurchase of shares held by employee share-based trusts (106) (16)\nShares issued under share option scheme and agency share purchase plan 5 26\nNet cash (used in)/provided by financing activities (1,661) 392\nNet (decrease)/increase in cash and cash equivalents (533) 1,530\nCash and cash equivalents at beginning of the financial year 5,393 3,753\nEffect of exchange rate changes on cash and cash equivalents (165) 110\nCash and cash equivalents at end of the financial year Note:\n(1) The total cash outflow for leases for the year ended 31 December 2021 was US$176m (2020: US$187m).\n(2,781) (1,219)\n4,695 5,393\n146\nAIA GROUP LIMITED\nCONSOLIDATED STATEMENT OF CASH FLOWS\nCash and cash equivalents in the above consolidated statement of cash flows can be further analysed as follows:\nUS$m Cash and cash equivalents in the consolidated statement of financial position Bank overdrafts Cash and cash equivalents in the consolidated statement of cash flows OVERVIEW\nNote\nAs at\n31 December\n2021\nAs at\n31 December\n2020\n26 4,989 5,619\n(294) 4,695 (226)\n5,393\nFINANCIAL AND OPERATING REVIEW\nCORPORATE GOVERNANCE\nFINANCIAL STATEMENTS\nADDITIONAL INFORMATION",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_company_type",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nAIA GROUP LIMITED\nSTOCK CODE 1299\nLIVING OUR友邦保險控股有限公司\nPURPOSE\nANNUAL\nREPORT\n2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_key_financials",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Operating profit after tax: 6409m, total weighted premium income: 36,859m",
      "golden_context": "Page 12:\n\nOVERVIEW\nOVERVIEW\n2021 RESULTS AT-A-GLANCE\nVALUE OF NEW BUSINESS(1)(7)\nUS$ MILLIONS\n4,500\n4,154\n3,955\n4,000\n3,500\n3,366\n3,206\n3,000\n2,765\n2,500\n2,000\n1,500\n1,000\n500\n0\n2017\n2018 2019 2020\n2021\nOPERATING PROFIT AFTER TAX(3)(8) US$ MILLIONS\n7,000\n6,409\n5,942\n6,000\n5,689\n5,298\n5,000\n4,635\n4,000\n3,000\n2,000\n1,000\n0\n2017\n2018 2019 2020\n2021\nEV EQUITY(5)\nUS$ MILLIONS\n80,000\n75,001\n70,000\n67,185\n63,905\n60,000\n56,203\n52,429\n50,000\n40,000\n30,000\n20,000\n10,000\n0\n2017\n2018 2019 2020\n2021\nANNUALISED NEW PREMIUMS(2)(7)\nUS$ MILLIONS\n7,000\n6,510\n6,585\n6,000\n5,624\n5,219\n5,647\n5,000\n4,000\n3,000\n2,000\n1,000\n0\n2017\n2018 2019 2020\n2021\nTOTAL WEIGHTED PREMIUM INCOME(4)\nUS$ MILLIONS\n40,000\n36,859\n35,408\n35,000\n34,002\n30,543\n30,000\n26,393\n25,000\n20,000\n15,000\n10,000\n5,000\n0\n2017\n2018 2019 2020\n2021\nTOTAL ASSETS AND TOTAL LIABILITIES(8)\nUS$ BILLIONS\n350\n340\n326\n300\n284\n279\n262\n250\n230\n229\n219\n200\n190\n175\n150\n100\n50\n0\n2017\n2018 2019 2020\n2021\nTOTAL ASSETS TOTAL LIABILITIES\n010\nAIA GROUP LIMITED\nOVERVIEW\n2021 BREAKDOWN BY MARKET SEGMENT\nVALUE OF NEW BUSINESS(1)(6)\n8%\n10%\n14%\n30%\n17%\n21%\nANNUALISED NEW PREMIUMS(2)\n25%\n9%\n10%\n25%\n19%\n12%\nOPERATING PROFIT AFTER TAX(3)\n12%\n6%\n11%\n15%\nTOTAL WEIGHTED PREMIUM INCOME(4)\n22%\n34%\n21%\n7%\n9%\n12%\n19%\n32%\nMAINLAND CHINA HONG KONG THAILAND SINGAPORE MALAYSIA OTHER MARKETS\nNotes:\n(1) Value of new business (VONB) is the present value, measured at the\npoint of sale, of projected after-tax statutory profits emerging in the\nfuture from new business sold in the period less the cost of holding\nthe required capital in excess of regulatory reserves to support this\nbusiness.\n(2) (3) (4) (5) (6) Annualised new premiums (ANP) is a measure of new business\nactivity that is calculated as the sum of 100 per cent of annualised\nfirst year premiums and 10 per cent of single premiums, before\nreinsurance ceded.\nOperating profit after tax (OPAT) is shown after non-controlling\ninterests.\nTotal weighted premium income (TWPI) consists of 100 per cent of\nrenewal premiums, 100 per cent of first year premiums and 10 per\ncent of single premiums, before reinsurance ceded.\nEmbedded value (EV) is an actuarially determined estimate of the\neconomic value of a life insurance business based on a particular\nset of assumptions as to future experience, excluding any economic\nvalue attributable to future new business. EV Equity is the total of\nembedded value, goodwill and other intangible assets, after allowing\nfor taxes.\nBased on local statutory basis, before unallocated Group Office\nexpenses and deduction of the amount attributable to non-controlling\ninterests, VONB by segment includes pension business.\n(7) (8) From 2019 onwards, ANP and VONB for Other Markets include\nthe results from our 49 per cent shareholding in Tata AIA Life\nInsurance Company Limited (Tata AIA Life). ANP and VONB for\n2018 and before have not been restated and do not include any\ncontribution from Tata AIA Life. The VONB for the Group from\n2019 onwards excludes the VONB attributable to non-controlling\ninterests. VONB for 2018 and before have not been restated\nand are reported before deducting the amount attributable to\nnon-controlling interests, as previously disclosed. The IFRS results\nof Tata AIA Life are accounted for using the equity method. The\nresults of Tata AIA Life are accounted for on a one quarter lag\nbasis in AIA’s consolidated results. For clarity, TWPI does not\ninclude any contribution from Tata AIA Life.\nAIA’s IFRS accounting treatment for the recognition and\nmeasurement of insurance contract liabilities of Hong Kong\nparticipating business has been refined to reflect expected\nchanges to policyholder bonuses. Comparative information has\nbeen adjusted for 2019. Comparative information for 2018 and\nprior years has not been restated.\nFINANCIAL STATEMENTS\nCORPORATE GOVERNANCE\nFINANCIAL AND OPERATING REVIEW\nOVERVIEW\nADDITIONAL INFORMATION\nANNUAL REPORT 2021 011\nOVERVIEW\nCHAIRMAN’S STATEMENT\nAIA IS DEEPLY ROOTED WITHIN ASIA AND OUR GROWTH STRATEGY\nIS FULLY ALIGNED WITH ITS VAST POTENTIAL AND EVOLVING NEEDS.\nDESPITE THE PROFOUND GLOBAL CHALLENGES FROM THE ONGOING\nCOVID-19 PANDEMIC, I AM INCREDIBLY PROUD OF HOW OUR COLLEAGUES\nHAVE RESPONDED WITH DEDICATION AND CARE F",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_revenue",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "total revenue: 47,525m",
      "golden_context": "Page 142:\n\nFINANCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nUS$m Notes\nYear ended\n31 December\n2021\nYear ended\n31 December\n2020\n32,381 36,865\n(2,326) (2,126)\nREVENUE\nPremiums and fee income 6 37,123 35,780\nPremiums ceded to reinsurers (2,679) (2,452)\nNet premiums and fee income 34,444 33,328\nInvestment return 10 12,748 16,707\nOther operating revenue 10 333 324\nTotal revenue 47,525 50,359\nEXPENSES\nInsurance and investment contract benefits Insurance and investment contract benefits ceded Net insurance and investment contract benefits 30,055 34,739\nCommission and other acquisition expenses 4,597 4,402\nOperating expenses 3,031 2,695\nFinance costs 357 292\nOther expenses 1,006 944\nTotal expenses 11 39,046 43,072\nProfit before share of losses from associates and joint ventures Share of losses from associates and joint ventures Profit before tax 8,468 7,270\nTax expense 12 (991) (1,491)\nNet profit 7,477 5,779\nNet profit attributable to:\nShareholders of AIA Group Limited 7,427 5,779\nNon-controlling interests 50–\nEARNINGS PER SHARE (US$)\nBasic 13 0.62 0.48\nDiluted 13 0.61 0.48",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_revenue_growth",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "total revenue: 47,525m, prior year: 50,359m",
      "golden_context": "Page 142:\n\nFINANCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nUS$m Notes\nYear ended\n31 December\n2021\nYear ended\n31 December\n2020\n32,381 36,865\n(2,326) (2,126)\nREVENUE\nPremiums and fee income 6 37,123 35,780\nPremiums ceded to reinsurers (2,679) (2,452)\nNet premiums and fee income 34,444 33,328\nInvestment return 10 12,748 16,707\nOther operating revenue 10 333 324\nTotal revenue 47,525 50,359\nEXPENSES\nInsurance and investment contract benefits Insurance and investment contract benefits ceded Net insurance and investment contract benefits 30,055 34,739\nCommission and other acquisition expenses 4,597 4,402\nOperating expenses 3,031 2,695\nFinance costs 357 292\nOther expenses 1,006 944\nTotal expenses 11 39,046 43,072\nProfit before share of losses from associates and joint ventures Share of losses from associates and joint ventures Profit before tax 8,468 7,270\nTax expense 12 (991) (1,491)\nNet profit 7,477 5,779\nNet profit attributable to:\nShareholders of AIA Group Limited 7,427 5,779\nNon-controlling interests 50–\nEARNINGS PER SHARE (US$)\nBasic 13 0.62 0.48\nDiluted 13 0.61 0.48",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000470_segments",
      "report_id": "ID_000470",
      "company_name": "AIA Group",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Mainland China, Hong Kong, Thailand, Singapore, Malaysia, Other MArkets, optional: Group Corporate Centre",
      "golden_context": "Page 32:\n\nINANCIAL AND OPERATING REVIEW\nGROUP CHIEF FINANCIAL OFFICER’S REVIEW\nIFRS PROFIT\nOPAT(1) by Segment\nUS$ millions, unless otherwise stated 2021 2020\nYoY\nCER\nYoY\nAER\nMainland China 1,371 1,220 4% 12%\nHong Kong 2,143 2,059 4% 4%\nThailand 960 987 (1)% (3)%\nSingapore 723 621 13% 16%\nMalaysia 392 326 17% 20%\nOther Markets 784 687 10% 14%\nGroup Corporate Centre 36 42 n/m n/m\nTotal 6,409 5,942 6% 8%\nNote:\n(1) Attributable to shareholders of the Company only, excluding non-controlling interests.\nOur high-quality, recurring sources of earnings and the proactive management of our growing in-force portfolio\nunderpinned a 6 per cent increase in OPAT to US$6,409 million and a 0.6 pps increase in operating margin to 17.5\nper cent. Successive cohorts of new business are the primary driver of our OPAT growth as VONB translates into\nearnings over time. OPAT growth was 9 per cent after normalising for the exceptional claims experience during the\nCOVID-19 pandemic and excluding the impact of withholding tax for AlA China post subsidiarisation.\nMainland China reported 4 per cent growth in OPAT as strong underlying business growth was partly offset by the\nimpact of withholding tax following subsidiarisation and the normalisation of m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_cash_flow",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "operating: 9,867m, investing: -817m, financing: -4,786m",
      "golden_context": "Page 157-158:\n\nFINANCIAL STATEMENTS\nCONSOLIDATED STATEMENT OF CASH FLOWS\nUS$m Notes\nYear ended\n31 December\n2022\nYear ended\n31 December\n2021\n9,867 3,909\nCASH FLOWS FROM OPERATING ACTIVITIES\nProfit before tax 491 8,468\nAdjustments for:\nFinancial investments 14,024 (22,637)\nInsurance and investment contract liabilities, and deferred\nacquisition and origination costs (4,252) 17,953\nObligations under repurchase agreements 30 186 (102)\nOther non-cash operating items, including investment income and\nthe effect of exchange rate changes on certain operating items (8,440) (7,434)\nOperating cash items:\nInterest received 7,381 7,410\nDividends received 1,204 1,129\nInterest paid (47) (47)\nTax paid (680) (831)\nNet cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES\nPayments for intangible assets 14 (386) (640)\nDistribution or dividend from an associate 1–\nPayments for increase in interest of joint ventures 15 (11) (27)\nPrepayment for investment in an associate 23– (1,865)\nProceeds from sales of investment property and property,\nplant and equipment 16, 17 7 5\nPayments for investment property and property, plant and equipment 16, 17 (157) (238)\nAcquisition of subsidiaries, net of cash acquired (271) (16)\nNet cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES\nIssuances of medium-term notes and securities 29 1,818 2,079\nRedemption of medium-term notes 29 (165) (1,002)\nProceeds from other borrowings 29 1,364 1,959\nRepayment of other borrowings 29 (1,364) (1,959)\nCapital contribution from non-controlling interests– 11\nPayments for lease liabilities(1) (168) (170)\nInterest paid on medium-term notes and securities (330) (303)\nDividends paid during the year (2,279) (2,175)\nShare buy-back (3,570)–\nPurchase of shares held by employee share-based trusts (103) (106)\nShares issued under share option scheme and agency share purchase plan 11 5\nNet cash used in financing activities Net increase/(decrease) in cash and cash equivalents 4,264 (533)\nCash and cash equivalents at beginning of the financial year Effect of exchange rate changes on cash and cash equivalents 4,695 (193) 5,393\n(165)\nCash and cash equivalents at end of the financial year Note:\n(1) The total cash outflow for leases for the year ended 31 December 2022 was US$170m (2021: US$176m).\n(817) (2,781)\n(4,786) (1,661)\n8,766 4,695\nOVERVIEW\nFINANCIAL AND OPERATING REVIEW\nCORPORATE GOVERNANCE\nFINANCIAL STATEMENTS\nADDITIONAL INFORMATION\nANNUAL REPORT 2022\n155\nFINANCIAL STATEMENTS\nCash and cash equivalents in the above consolidated statement of cash flows can be further analysed as follows:\nUS$m Notes\nAs at\n31 December\n2022\nAs at\n31 December\n2021\n8,969 4,989\nCash and cash equivalents in the consolidated statement of financial position 25, 45 Bank overdrafts (203) (294)\nCash and cash equivalents in the consolidated statement of cash flows 8,766 4,695",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_company_type",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nAIA GROUP LIMITED\n友邦保險控股有限公司\nSTOCK CODE 1299",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_key_financials",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "value of new business 3,092m, annualised new premiums: 5,407m, operating profit after tax: 6,370m",
      "golden_context": "Page 16:\n\n2022 RESULTS AT-A-GLANCE\n4,154\n3,955\n2,765\nVALUE OF NEW BUSINESS(1)(7)\nUS$ MILLIONS\n4,500\n4,000\n3,500\n3,000\n2,500\n2,000\n1,500\n1,000\n500\n0\n6,510\n6,585\n3,366\n5,219\n5,647\n3,092\nANNUALISED NEW PREMIUMS(2)(7)\nUS$ MILLIONS\n7,000\n6,000\n5,000\n4,000\n3,000\n2,000\n1,000\n0\n5,407\n2018 2019 2020 2021\n2022\n2018 2019 2020 2021\n2022\n6,409\n5,942\n5,689\n5,298\nOPERATING PROFIT AFTER TAX(3)(8) US$ MILLIONS\n7,000\n6,000\n5,000\n4,000\n3,000\n2,000\n1,000\n0\n6,370\n34,002\n35,408\n36,859\n36,176\n30,543\nTOTAL WEIGHTED PREMIUM INCOME(4)\nUS$ MILLIONS\n40,000\n35,000\n30,000\n25,000\n20,000\n15,000\n10,000\n5,000\n0\n2018\n2019 2020 2021\n2022\n2018 2019 2020 2021\n2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_revenue",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "total revenue: 19,110m",
      "golden_context": "Page 151:\n\nINANCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nUS$m Notes\nYear ended\n31 December\n2022\nYear ended\n31 December\n2021\nREVENUE\nPremiums and fee income 5 36,519 37,123\nPremiums ceded to reinsurers (2,607) (2,679)\nNet premiums and fee income 33,912 34,444\nInvestment return 9 (15,156) 12,748\nOther operating revenue 9 354 333\nTotal revenue 19,110 47,525\nEXPENSES\nInsurance and investment contract benefits 12,158 32,381\nInsurance and investment contract benefits ceded (2,194) (2,326)\nNet insurance and investment contract benefits 9,964 30,055\nCommission and other acquisition expenses 4,016 4,597\nOperating expenses 3,251 3,031\nFinance costs 394 357\nOther expenses 962 1,006\nTotal expenses 10 18,587 39,046\nProfit before share of losses from associates and joint ventures 523 8,479\nShare of losses from associates and joint ventures (32) (11)\nProfit before tax 491 8,468\nTax expense 11 (171) (991)\nNet profit 320 7,477\nNet profit attributable to:\nShareholders of AIA Group Limited 282 7,427\nNon-controlling interests 38 50\nEARNINGS PER SHARE (US$)\nBasic 12 0.02 0.62\nDiluted 12 0.02 0.61",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_revenue_growth",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "total revenue: 19,110m, prior year: 47,525m",
      "golden_context": "Page 151:\n\nINANCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nUS$m Notes\nYear ended\n31 December\n2022\nYear ended\n31 December\n2021\nREVENUE\nPremiums and fee income 5 36,519 37,123\nPremiums ceded to reinsurers (2,607) (2,679)\nNet premiums and fee income 33,912 34,444\nInvestment return 9 (15,156) 12,748\nOther operating revenue 9 354 333\nTotal revenue 19,110 47,525\nEXPENSES\nInsurance and investment contract benefits 12,158 32,381\nInsurance and investment contract benefits ceded (2,194) (2,326)\nNet insurance and investment contract benefits 9,964 30,055\nCommission and other acquisition expenses 4,016 4,597\nOperating expenses 3,251 3,031\nFinance costs 394 357\nOther expenses 962 1,006\nTotal expenses 10 18,587 39,046\nProfit before share of losses from associates and joint ventures 523 8,479\nShare of losses from associates and joint ventures (32) (11)\nProfit before tax 491 8,468\nTax expense 11 (171) (991)\nNet profit 320 7,477\nNet profit attributable to:\nShareholders of AIA Group Limited 282 7,427\nNon-controlling interests 38 50\nEARNINGS PER SHARE (US$)\nBasic 12 0.02 0.62\nDiluted 12 0.02 0.61",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000471_segments",
      "report_id": "ID_000471",
      "company_name": "AIA Group",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Mainland China, Hong Kong, Thailand, Singapore, Malaysia, Other Markets  (optional: Group Corporate Centre)",
      "golden_context": "Page 17:\n\nOVERVIEW\n2022 BREAKDOWN BY MARKET SEGMENT\nVALUE OF NEW BUSINESS(1)(6)\n9%\n10%\n13%\n17%\n27%\n24%\nANNUALISED NEW PREMIUMS(2)\n26%\n8%\n10%\n24%\n20%\n12%\nOPERATING PROFIT AFTER TAX(3)\n12%\n22%\n6%\n12%\n13%\n35%\nTOTAL WEIGHTED PREMIUM INCOME(4)\n20%\n7%\n10%\n21%\n31%\n11%\nMAINLAND CHINA HONG KONG THAILAND SINGAPORE MALAYSIA OTHER MARKETS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_cash_flow",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 10,919m, investing: -2,137m, financing: -6,069m",
      "golden_context": "Page 164:\n\nFINANCIAL STATEMENTS\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYear ended\n31 December\n2023\nYear ended\n31 December\n2022\nUS$m Notes (restated)\n10,919 9,867\nCash flows from operating activities\nProfit before tax 4,564 4,054\nAdjustments for:\nFinancial investments (9,435) 31,199\nInsurance contracts 15,772 (23,413)\nReinsurance contracts held (269) (78)\nInvestment contracts (2,718) (1,492)\nObligations under repurchase agreements 27 1,739 186\nOther non-cash operating items, including investment income and\nthe effect of exchange rate changes on certain operating items (7,008) (8,312)\nOperating cash items:\nInterest received 7,486 7,246\nDividends received 1,663 1,204\nInterest paid (82) (47)\nTax paid (793) (680)\nNet cash provided by operating activities Cash flows from investing activities\nPayments for intangible assets 14 (326) (386)\nDistribution or dividend from an associate 15 1 1\nPayments for increase in interest of joint ventures (68) (11)\nProceeds from sales of investment property and property,\nplant and equipment 16, 17– 7\nPayments for investment property and property, plant and equipment 16, 17 (1,420) (157)\nAcquisition/disposal of subsidiaries and disposal group held for sale,\nnet of cash acquired/disposed of (324) (271)\nNet cash used in investing activities Cash flows from financing activities\nIssuances of medium-term notes and securities 26 996 1,818\nRedemption of medium-term notes 26 (500) (165)\nProceeds from other borrowings 26 150 1,364\nRepayment of other borrowings 26 (114) (1,364)\nCapital contribution from non-controlling interests 2–\nPayments for lease liabilities(1) (150) (168)\nInterest paid on medium-term notes and securities (394) (330)\nDividends paid during the year (2,312) (2,279)\nShare buy-back (3,637) (3,570)\nPurchase of shares held by employee share-based trusts (115) (103)\nShares issued under share option scheme and agency share purchase plan 5 11\nNet cash used in financing activities (2,137) (817)\n(6,069) (4,786)\n162 AIA GROUP LIMITED\nCONSOLIDATED STATEMENT OF CASH FLOWS\nYear ended\n31 December\n2023\nYear ended\n31 December\n2022\nUS$m (restated)\nNet increase in cash and cash equivalents Cash and cash equivalents at beginning of the financial year Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at end of the financial year 2,713 4,264\n8,766 4,695\n(29) (193)\n11,450 8,766\nNote:\n(1) The total cash outflow for leases for the year ended 31 December 2023 was US$157m (2022: US$170m).\nCash and cash equivalents in the above consolidated statement of cash flows can be further analysed as follows:\nUS$m Cash and cash equivalents in the consolidated statement of financial position Bank overdrafts Cash and cash equivalents in the consolidated statement of cash flows Notes As at\n31 December\n2023\nAs at\n31 December\n2022\n(restated)\n22, 42 11,525 (75) 11,450 8,969\n(203)\n8,766",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_company_type",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nAIA GROUP LIMITED\n友邦保險控股有限公司\nSTOCK CODES\n1299 (HKD COUNTER)\n81299 (RMB COUNTER)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_key_financials",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Annualised new premiums: 7,650m, operating profit after tax: 6,213m, total weighted premium income: 37,939m",
      "golden_context": "Page 12:\n\nOVERVIEW\n2023 RESULTS AT-A-GLANCE\n4,154\n3,366\n2,765\nVALUE OF NEW BUSINESS(1)\nUS$ MILLIONS\n4,500\n4,000\n3,500\n3,000\n2,500\n2,000\n1,500\n1,000\n500\n0\n4,034\n6,585\n3,092\n5,647\n5,219\n5,407\nANNUALISED NEW PREMIUMS(2)\nUS$ MILLIONS\n8,000\n7,000\n6,000\n5,000\n4,000\n3,000\n2,000\n1,000\n0\n7,650\n2019 2020 2021 2022\n2023\n2019 2020 2021 2022\n2023\nOPERATING PROFIT AFTER TAX(3)(7) US$ MILLIONS\n7,000\n6,000\n5,689\n5,000\n4,000\n3,000\n2,000\n1,000\n0\n37,939\n6,409\n6,421\n5,942 6,213\nTOTAL WEIGHTED PREMIUM INCOME(4)\nUS$ MILLIONS\n40,000\n36,859\n35,408 36,176\n35,000\n34,002\n30,000\n25,000\n20,000\n15,000\n10,000\n5,000\n0\n2019\n2020 2021 2022\n2023\n2019 2020 2021 2022\n2023\n63,905\nEV EQUITY(5)\nUS$ MILLIONS\n80,000\n70,000\n60,000\n50,000\n40,000\n30,000\n20,000\n10,000\n0\n75,001\n71,202\n67,185 70,153\n326\n284\n340\n279 286\n270\n262\n245\n229\n225\nTOTAL ASSETS AND TOTAL LIABILITIES(7)\nUS$ BILLIONS\n350\n300\n250\n200\n150\n100\n50\n0\n2019 2020 2021 2022\n2023\n2019 2020 2021 2022\nTOTAL ASSETS TOTAL LIABILITIES",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_revenue",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Insurance revenue 17,514m",
      "golden_context": "Page 158:\n\nCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nYear ended\n31 December\n2023\nUS$m Notes (restated)\nYear ended\n31 December\n2022\nInsurance revenue 8, 24 17,514 16,319\nInsurance service expenses 10, 24 (12,078) (10,434)\nNet expenses from reinsurance contracts held 24 (345) (419)\nInsurance service result 5,091 5,466\nInterest revenue on 9\nFinancial assets not measured at fair value through profit or loss 4,062 3,837\nFinancial assets measured at fair value through profit or loss 3,758 3,430\nOther investment return 9 4,941 (38,647)\nNet impairment loss on financial assets 9 (195) (233)\nInvestment return 9 12,566 (31,613)\nNet finance (expenses)/income from insurance contracts 9 (10,456) 30,957\nNet finance income from reinsurance contracts held 9 65 67\nMovement in investment contract liabilities 9, 25 (572) 1,106\nMovement in third-party interests in consolidated investment funds 9 (56) 34\nNet investment result 9 1,547 551\nFee income 114 138\nOther operating revenue 294 301\nOther expenses 10 (1,752) (1,896)\nOther finance costs 10 (463) (385)\nProfit before share of losses from associates and joint ventures 4,831 4,175\nShare of losses from associates and joint ventures (267) (121)\nProfit before tax 4,564 4,054\nTax expense 11 (783) (689)\nNet profit 3,781 3,365\nNet profit attributable to:\nShareholders of AIA Group Limited 3,764 3,331\nNon-controlling interests 17 34\nEarnings per share (US$)\nBasic 12 0.33 0.28\nDiluted 12 0.33 0.28",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_revenue_growth",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Insurance revenue 17,514m, prior year: 16,319m",
      "golden_context": "Page 158:\n\nCIAL STATEMENTS\nCONSOLIDATED INCOME STATEMENT\nYear ended\n31 December\n2023\nUS$m Notes (restated)\nYear ended\n31 December\n2022\nInsurance revenue 8, 24 17,514 16,319\nInsurance service expenses 10, 24 (12,078) (10,434)\nNet expenses from reinsurance contracts held 24 (345) (419)\nInsurance service result 5,091 5,466\nInterest revenue on 9\nFinancial assets not measured at fair value through profit or loss 4,062 3,837\nFinancial assets measured at fair value through profit or loss 3,758 3,430\nOther investment return 9 4,941 (38,647)\nNet impairment loss on financial assets 9 (195) (233)\nInvestment return 9 12,566 (31,613)\nNet finance (expenses)/income from insurance contracts 9 (10,456) 30,957\nNet finance income from reinsurance contracts held 9 65 67\nMovement in investment contract liabilities 9, 25 (572) 1,106\nMovement in third-party interests in consolidated investment funds 9 (56) 34\nNet investment result 9 1,547 551\nFee income 114 138\nOther operating revenue 294 301\nOther expenses 10 (1,752) (1,896)\nOther finance costs 10 (463) (385)\nProfit before share of losses from associates and joint ventures 4,831 4,175\nShare of losses from associates and joint ventures (267) (121)\nProfit before tax 4,564 4,054\nTax expense 11 (783) (689)\nNet profit 3,781 3,365\nNet profit attributable to:\nShareholders of AIA Group Limited 3,764 3,331\nNon-controlling interests 17 34\nEarnings per share (US$)\nBasic 12 0.33 0.28\nDiluted 12 0.33 0.28",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000472_segments",
      "report_id": "ID_000472",
      "company_name": "AIA Group",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Mainland China, Hong Kong, Thailand, Singapore, Malaysia, Other Markets",
      "golden_context": "Page 13:\n\nOVERVIEW\n2023 BREAKDOWN BY MARKET SEGMENT\nVALUE OF NEW BUSINESS(1)(6)\n7%\n9%\n17%\n10%\n24%\n33%\nANNUALISED NEW PREMIUMS(2)\n6%\n8%\n18%\n10%\n26%\n32%\nOPERATING PROFIT AFTER TAX(3)\n5%\n11%\n15%\n9%\n25%\n35%\nTOTAL WEIGHTED PREMIUM INCOME(4)\n7%\n10%\n18%\n12%\n23%\n30%\nMAINLAND CHINA HONG KONG THAILAND SINGAPORE MALAYSIA OTHER MARKETS(8)\nNotes:\n(1) Value of new business (VONB) is the present value, measured at the\npoint of sale, of projected after-tax statutory profits emerging in the\nfuture from new business sold in the period less the cost of holding\nthe required capital in excess of regulatory reserves to support this\nbusiness.\n(2) (3) (4) (5) Annualised new premiums (ANP) is a measure of new business\nactivity that is calculated as the sum of 100 per cent of annualised\nfirst year premiums and 10 per cent of single premiums, before\nreinsurance ceded.\nOperating profit after tax (OPAT) is shown after non-controlling\ninterests.\nTotal weighted premium income (TWPI) consists of 100 per cent of\nrenewal premiums, 100 per cent of first year premiums and 10 per\ncent of single premiums, before reinsurance ceded.\nEmbedded value (EV) is an actuarially determined estimate of the\neconomic value of a life insurance business based on a particular set\nof assumptions as to future experience, excluding any economic\nvalue attributable to future new business. EV Equity is the total of\nembedded value, goodwill and other intangible assets, after allowing\nfor taxes.\n(6) (7) (8) Based on local statutory basis, before unallocated Group Office\nexpenses and deduction of the amount attributable to non-\ncontrolling interests.\nFrom 2022 onwards, the financial information is presented after the\nadoption of IFRS 9 and IFRS 17, and amendment to IAS 16, unless\notherwise stated. The financial information for 2021 and prior\nperiods are presented before the above-mentioned change.\nANP and VONB for Other Markets include the results from our 49 per\ncent shareholding in Tata AIA Life Insurance Company Limited (Tata\nAIA Life). ANP and VONB do not include any contribution from our\n24.99 per cent shareholding in China Post Life Insurance Co., Ltd.\n(China Post Life). The IFRS results of Tata AIA Life and China Post\nLife are accounted for using the equity method. The results of Tata\nAIA Life and China Post Life are accounted for on a one-quarter-lag\nbasis in AIA’s consolidated results. The results of China Post Life\nstarting from the completion of the investment on 11 January 2022\nare accounted for in AIA’s consolidated results. For clarity, TWPI\ndoes not include any contribution from Tata AIA Life and China Post\nLife.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_cash_flow",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 12340m, investing: 2276m, financing: -12669m",
      "golden_context": "Page 132:\n\nConsolidated Statement of Cash Flows\nFor the year ended 31 December 2021\nNote\n2021\n$m\n2020\n$m\n(1,557) 2,813\n12,340 14,769\n(1,070) (1,351)\n3,276 (5,850)\n(349) (160)\nCash flows from principal operating activities\nNet cash inflow from principal operating activities 47(a) 13,897 11,956\nCash flows from other operating activities\nNet (payments to)/redemption from external fund managers for (purchases)/\nsales of financial assets measured at fair value through profit or loss Net cash inflow from operating activities Cash flows from investing activities\nPayments for purchases of fixed assets and intangible assets Net decrease/(increase) in financial assets of Corporate Funds:\nDecrease/(increase) in time deposits with original maturities\nmore than three months Proceeds received upon maturity of financial assets measured at\namortised cost (excluding time deposits) 810 207\nPayments for purchases of financial assets measured at amortised cost\n(excluding time deposits) (429) (384)\nPayments for financial assets measured at fair value through profit or loss Interest received from financial assets measured at fair value through\nother comprehensive income 38 56\nNet cash inflow/(outflow) from investing activities 2,276 (7,482)\nCash flows from financing activities\nPurchases of shares for Share Award Scheme (681) (31)\nPayments of other finance costs Dividends paid to shareholders of HKEX (72) (87)\n(11,527) (6,983)\nLease payments 47(b), 47(c)\n– Capital elements (310) (284)\n– Interest elements (79) (89)\nNet cash outflow from financing activities Net increase/(decrease) in cash and cash equivalents 1,947 (187)\nCash and cash equivalents at 1 Jan 10,442 10,603\nExchange differences on cash and cash equivalents 9 26\nCash and cash equivalents at 31 Dec Analysis of cash and cash equivalents\nCash on hand and balances and deposits with banks and\nshort-term investments of Corporate Funds 21 12,900 10,753\nLess: C ash reserved for supporting Skin-in-the-Game and\ndefault fund credits of clearing houses 21(b) (502) (311)\n(12,669) (7,474)\n12,398 10,442\n12,398 10,442\nThe notes on pages 131 to 214 are an integral part of these consolidated financial statements.\n(a) “Cash flows from principal operating activities” is a non-Hong Kong Financial Reporting Standard (non-HKFRS)\nmeasure used by management for monitoring cash flows of the Group (defined in note 1) and represents the cash\nflows generated from the trading and clearing operations of the four exchanges and five clearing houses and ancillary\nservices of the Group. This non-HKFRS measure may not be comparable to similar measures presented by other\ncompanies. Cash flows from principal operating activities and cash flows from other operating activities together\nrepresent cash flows from operating activities as defined by Hong Kong Accounting Standard (HKAS) 7: Statement of\nCash Flows.\n130 HKEX Annual Report 2021\nNotes to the Consolidated Financial Statements\n1. General Information\nHong Kong Exchanges and Clearing Limited (HKEX or the Company) and its subsidiaries (collectively, the Group)\nown and operate the only stock exchange and futures exchange in Hong Kong and their related clearing houses, a\nclearing house for clearing over-the-counter derivatives contracts in Hong Kong, an exchange and a clearing house\nfor the trading and clearing of base, ferrous and precious metals futures and options contracts operating in the\nUnited Kingdom (UK), and a commodity trading platform in the Mainland.\nHKEX is a limited company incorporated and domiciled in Hong Kong. The address of its registered office is 8th\nFloor, Two Exchange Square, 8 Connaught Place, Central, Hong Kong.\nThese consolidated financial statements were approved for issue by the Board of Directors (Board) on 24 February\n2022.\n2. Principal Accounting Policies\nApart from the accounting policies presented within the corresponding notes to the consolidated financial\nstatements, other principal accounting policies applied in the preparation of these consolidated financial\nstatements are set out below. These policies have been consistently applied to all the years presented, unless\notherwise stated.\n(a) Statement of compliance\nThese consolidated financial statements have been prepared in accordance with Hong Kong Financial\nReporting Standards (HKFRSs) issued by the Hong Kong Institute of Certified Public Accountants (HKICPA),\nand accounting principles generally accepted in Hong Kong. These consolidated financial statements also\ncomply with the applicable disclosure requirements of the Rules Governing the Listing of Securities on The\nStock Exchange of Hong Kong Limited (Main Board Listing Rules) and the applicable requirements of the\nHong Kong Companies Ordinance (Chapter 622).\n(b) Basis of preparation\nThese consolidated financial statements have been prepared under the historical cost convention, as\nmodified by the revaluation of certain financial assets and financial liabilities measured at fair value.\nThe preparation of consolidated financial statements requires the use of certain critical accounting estimates,\nand requires management to exercise its judgement when applying the Group’s accounting policies. Areas\ninvolving significant estimates and judgement are disclosed in note 3.\nAdoption of new/revised HKFRSs\nIn 2021, the Group has adopted the following amendment to HKFRSs which is pertinent to the Group’s\noperations:\nAmendments to HKFRS 16 Leases: COVID-19-Related Rent Concessions1\n1 Effective for accounting periods beginning on or after 1 June 2020\nThe adoption of the amendment did not have any financial impact on the Gro",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_company_type",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 224:\n\nHong Kong Exchanges\nand Clearing Limited\n8/F, Two Exchange Square\n8 Connaught Place, Central, Hong Kong\nT (852) 2522 1122 F (852) 2295 3106\ninfo@hkex.com.hk\nhkexgroup.com | hkex.com.hk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_key_financials",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenue and other income of 20950m, EBITDA 16269m, Basic EPS: 9.91",
      "golden_context": "Page 10:\n\nFinancial Highlights\nRevenue and other income\nOperating expenses\n+9%\n2021 revenue and other income of $20,950 million,\nup 9 per cent against the previous record set in\n2020\n•\n•\nCore business revenue up 10 per cent compared\nwith 2020, reflecting higher trading and clearing\nfees driven by record Headline ADT\nStock Connect revenue and other income reached\na record high of $2,724 million, up 41 per cent\nagainst 2020, accounting for 13 per cent of Group\ntotal revenue and other income\n•\nNet investment income from Corporate Funds\ndown 16 per cent compared with 2020, reflecting\nreduced interest income and lower fair value gains\nof collective investment schemes\n+2%\nOperating expenses up 2 per cent compared with\n2020, attributable to higher IT costs and marketing\nexpenses\nEBITDA\nProfit Attributable to Shareholders\n+11%\nEBITDA1 up 11 per cent compared with 2020 at\n$16,269 million, with EBITDA margin1 at 78 per\ncent, 1 per cent higher than 2020\n+9%\nIn 2021, there was a one-off deferred tax charge on\nacquired LME intangible assets of $160 million\narising from the approval of the change in the UK\nstatutory corporate tax rate from 19 per cent to 25\nper cent, effective April 2023\nProfit attributable to shareholders up 9 per cent, to\na record high of $12,535 million\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation, depreciation and\namortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on EBITDA divided by revenue and other\nincome less transaction-related expenses.\n8 HKEX Annual Report 2021\nKey Financials\n2021\n$m\n2020\n$m Change\nRevenue and other income\nCore business revenue HKEX Foundation donation income Net investment income of Corporate Funds 20,103 18,242 10%\n139 106 31%\n708 842 (16%)\n20,950 19,190 9%\nOperating expenses 4,529 4,439 2%\nEBITDA 16,269 14,641 11%\nProfit attributable to shareholders 12,535 11,505 9%\nCapital expenditure 1,127 1,388 (19%)\nBasic earnings per share $9.91 $9.11 9%\nFirst interim dividend per share $4.69 $3.71 26%\nSecond interim dividend per share $4.18 $4.46 (6%)\n$8.87 $8.17 9%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2021 2020 Change\nADT of equity products traded on the Stock Exchange 2\n($bn) 146.6 * 110.9 32%\nADT of DWs, CBBCs and warrants traded on the Stock\nExchange ($bn) 20.1 18.6 8%\nADT traded on the Stock Exchange 2,3\n(Headline ADT) ($bn) 166.7 * 129.5 29%\nADT of Northbound Trading of Stock Connect 2 (RMBbn) 120.1 * 91.3 32%\nADT of Southbound Trading of Stock Connect 2 ($bn) 41.7 * 24.4 71%\nADV 4 of derivatives contracts traded on the Futures\nExchange (’000 contracts) 538 612 (12%)\nADV of stock options contracts traded on the\nStock Exchange (’000 contracts) 637 * 526 21%\nChargeable ADV 4,5 of metals contracts traded\non the LME (’000 lots) 547 571 (4%)\nADT of Northbound Bond Connect (RMBbn) 26.6 * 19.8 34%\n*\nNew record high in 2021\n2 Includes buy and sell trades under Stock Connect\n3 ADT of Southbound Trading is included within Headline ADT.\n4 In prior years, ADV of derivatives contracts traded on the Futures Exchange and ADV of metals contracts traded on the LME were\ncalculated based on total number of contracts traded divided by total number of trading days during the period. From 2021 onwards, the\ncalculation is revised to the sum of ADV of the individual products. Comparative figures have been restated throughout this Annual Report\nto conform with the revised calculation.\n5 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\nStrategic and Financial Highlights\n9\nRevenue and Other Income\n$20,950 million\n+9%\n$m\n20,950\n20,950\n19,190\n19,190\n21000\n21000\n21000\n21000\n16800\n16800\n16800\n16800\n12600\n12600\n12600\n12600\n8400\n8400\n8400\n8400\n4200\n4200\n4200\n4200\n0\n0\n0\n0\n20,950\n20,950\n19,190\n19,190\n15,867 16,311\n15,867 16,311\n15,867 16,311\n15,867 16,311\n13,180\n13,180\n13,180\n13,180\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\nProfit Attributable to Shareholders\n$12,535 million\n+9%\n$m\n13000\n13000\n12,535\n12,535\n13000\n13000\n11,505\n11,505\n12,535\n12,535\n11,505\n11,505\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n7800\n7800\n7,404\n7,404\n7800\n7800\n7,404\n7,404\n5200\n5200\n5200\n5200\n2600\n2600\n2600\n2600\n0\n0\n0\n0\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n10 HKEX Annual Report 2021\nEBITDA\n$16,269 million\n+11%\n$m\n16,269\n16,269\n14,641\n14,641\n17000\n17000\n17000\n17000\n13600\n13600\n13600\n13600\n10200\n10200\n10200\n10200\n6800\n6800\n6800\n6800\n3400\n3400\n3400\n3400\n0\n0\n0\n0\n16,269\n16,269\n14,641\n14,641\n11,757 12,263\n11,757 12,263\n11,757 12,263\n11,757 12,263\n9,614\n9,614\n9,614\n9,614\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_revenue",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Revenue and other income of 20950m",
      "golden_context": "Page 10:\n\nFinancial Highlights\nRevenue and other income\nOperating expenses\n+9%\n2021 revenue and other income of $20,950 million,\nup 9 per cent against the previous record set in\n2020\n•\n•\nCore business revenue up 10 per cent compared\nwith 2020, reflecting higher trading and clearing\nfees driven by record Headline ADT\nStock Connect revenue and other income reached\na record high of $2,724 million, up 41 per cent\nagainst 2020, accounting for 13 per cent of Group\ntotal revenue and other income\n•\nNet investment income from Corporate Funds\ndown 16 per cent compared with 2020, reflecting\nreduced interest income and lower fair value gains\nof collective investment schemes\n+2%\nOperating expenses up 2 per cent compared with\n2020, attributable to higher IT costs and marketing\nexpenses\nEBITDA\nProfit Attributable to Shareholders\n+11%\nEBITDA1 up 11 per cent compared with 2020 at\n$16,269 million, with EBITDA margin1 at 78 per\ncent, 1 per cent higher than 2020\n+9%\nIn 2021, there was a one-off deferred tax charge on\nacquired LME intangible assets of $160 million\narising from the approval of the change in the UK\nstatutory corporate tax rate from 19 per cent to 25\nper cent, effective April 2023\nProfit attributable to shareholders up 9 per cent, to\na record high of $12,535 million\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation, depreciation and\namortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on EBITDA divided by revenue and other\nincome less transaction-related expenses.\n8 HKEX Annual Report 2021\nKey Financials\n2021\n$m\n2020\n$m Change\nRevenue and other income\nCore business revenue HKEX Foundation donation income Net investment income of Corporate Funds 20,103 18,242 10%\n139 106 31%\n708 842 (16%)\n20,950 19,190 9%\nOperating expenses 4,529 4,439 2%\nEBITDA 16,269 14,641 11%\nProfit attributable to shareholders 12,535 11,505 9%\nCapital expenditure 1,127 1,388 (19%)\nBasic earnings per share $9.91 $9.11 9%\nFirst interim dividend per share $4.69 $3.71 26%\nSecond interim dividend per share $4.18 $4.46 (6%)\n$8.87 $8.17 9%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2021 2020 Change\nADT of equity products traded on the Stock Exchange 2\n($bn) 146.6 * 110.9 32%\nADT of DWs, CBBCs and warrants traded on the Stock\nExchange ($bn) 20.1 18.6 8%\nADT traded on the Stock Exchange 2,3\n(Headline ADT) ($bn) 166.7 * 129.5 29%\nADT of Northbound Trading of Stock Connect 2 (RMBbn) 120.1 * 91.3 32%\nADT of Southbound Trading of Stock Connect 2 ($bn) 41.7 * 24.4 71%\nADV 4 of derivatives contracts traded on the Futures\nExchange (’000 contracts) 538 612 (12%)\nADV of stock options contracts traded on the\nStock Exchange (’000 contracts) 637 * 526 21%\nChargeable ADV 4,5 of metals contracts traded\non the LME (’000 lots) 547 571 (4%)\nADT of Northbound Bond Connect (RMBbn) 26.6 * 19.8 34%\n*\nNew record high in 2021\n2 Includes buy and sell trades under Stock Connect\n3 ADT of Southbound Trading is included within Headline ADT.\n4 In prior years, ADV of derivatives contracts traded on the Futures Exchange and ADV of metals contracts traded on the LME were\ncalculated based on total number of contracts traded divided by total number of trading days during the period. From 2021 onwards, the\ncalculation is revised to the sum of ADV of the individual products. Comparative figures have been restated throughout this Annual Report\nto conform with the revised calculation.\n5 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\nStrategic and Financial Highlights\n9\nRevenue and Other Income\n$20,950 million\n+9%\n$m\n20,950\n20,950\n19,190\n19,190\n21000\n21000\n21000\n21000\n16800\n16800\n16800\n16800\n12600\n12600\n12600\n12600\n8400\n8400\n8400\n8400\n4200\n4200\n4200\n4200\n0\n0\n0\n0\n20,950\n20,950\n19,190\n19,190\n15,867 16,311\n15,867 16,311\n15,867 16,311\n15,867 16,311\n13,180\n13,180\n13,180\n13,180\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\nProfit Attributable to Shareholders\n$12,535 million\n+9%\n$m\n13000\n13000\n12,535\n12,535\n13000\n13000\n11,505\n11,505\n12,535\n12,535\n11,505\n11,505\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n7800\n7800\n7,404\n7,404\n7800\n7800\n7,404\n7,404\n5200\n5200\n5200\n5200\n2600\n2600\n2600\n2600\n0\n0\n0\n0\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n10 HKEX Annual Report 2021\nEBITDA\n$16,269 million\n+11%\n$m\n16,269\n16,269\n14,641\n14,641\n17000\n17000\n17000\n17000\n13600\n13600\n13600\n13600\n10200\n10200\n10200\n10200\n6800\n6800\n6800\n6800\n3400\n3400\n3400\n3400\n0\n0\n0\n0\n16,269\n16,269\n14,641\n14,641\n11,757 12,263\n11,757 12,263\n11,757 12,263\n11,757 12,263\n9,614\n9,614\n9,614\n9,614\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_revenue_growth",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "9% revenue growth",
      "golden_context": "Page 10:\n\nFinancial Highlights\nRevenue and other income\nOperating expenses\n+9%\n2021 revenue and other income of $20,950 million,\nup 9 per cent against the previous record set in\n2020\n•\n•\nCore business revenue up 10 per cent compared\nwith 2020, reflecting higher trading and clearing\nfees driven by record Headline ADT\nStock Connect revenue and other income reached\na record high of $2,724 million, up 41 per cent\nagainst 2020, accounting for 13 per cent of Group\ntotal revenue and other income\n•\nNet investment income from Corporate Funds\ndown 16 per cent compared with 2020, reflecting\nreduced interest income and lower fair value gains\nof collective investment schemes\n+2%\nOperating expenses up 2 per cent compared with\n2020, attributable to higher IT costs and marketing\nexpenses\nEBITDA\nProfit Attributable to Shareholders\n+11%\nEBITDA1 up 11 per cent compared with 2020 at\n$16,269 million, with EBITDA margin1 at 78 per\ncent, 1 per cent higher than 2020\n+9%\nIn 2021, there was a one-off deferred tax charge on\nacquired LME intangible assets of $160 million\narising from the approval of the change in the UK\nstatutory corporate tax rate from 19 per cent to 25\nper cent, effective April 2023\nProfit attributable to shareholders up 9 per cent, to\na record high of $12,535 million\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation, depreciation and\namortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on EBITDA divided by revenue and other\nincome less transaction-related expenses.\n8 HKEX Annual Report 2021\nKey Financials\n2021\n$m\n2020\n$m Change\nRevenue and other income\nCore business revenue HKEX Foundation donation income Net investment income of Corporate Funds 20,103 18,242 10%\n139 106 31%\n708 842 (16%)\n20,950 19,190 9%\nOperating expenses 4,529 4,439 2%\nEBITDA 16,269 14,641 11%\nProfit attributable to shareholders 12,535 11,505 9%\nCapital expenditure 1,127 1,388 (19%)\nBasic earnings per share $9.91 $9.11 9%\nFirst interim dividend per share $4.69 $3.71 26%\nSecond interim dividend per share $4.18 $4.46 (6%)\n$8.87 $8.17 9%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2021 2020 Change\nADT of equity products traded on the Stock Exchange 2\n($bn) 146.6 * 110.9 32%\nADT of DWs, CBBCs and warrants traded on the Stock\nExchange ($bn) 20.1 18.6 8%\nADT traded on the Stock Exchange 2,3\n(Headline ADT) ($bn) 166.7 * 129.5 29%\nADT of Northbound Trading of Stock Connect 2 (RMBbn) 120.1 * 91.3 32%\nADT of Southbound Trading of Stock Connect 2 ($bn) 41.7 * 24.4 71%\nADV 4 of derivatives contracts traded on the Futures\nExchange (’000 contracts) 538 612 (12%)\nADV of stock options contracts traded on the\nStock Exchange (’000 contracts) 637 * 526 21%\nChargeable ADV 4,5 of metals contracts traded\non the LME (’000 lots) 547 571 (4%)\nADT of Northbound Bond Connect (RMBbn) 26.6 * 19.8 34%\n*\nNew record high in 2021\n2 Includes buy and sell trades under Stock Connect\n3 ADT of Southbound Trading is included within Headline ADT.\n4 In prior years, ADV of derivatives contracts traded on the Futures Exchange and ADV of metals contracts traded on the LME were\ncalculated based on total number of contracts traded divided by total number of trading days during the period. From 2021 onwards, the\ncalculation is revised to the sum of ADV of the individual products. Comparative figures have been restated throughout this Annual Report\nto conform with the revised calculation.\n5 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\nStrategic and Financial Highlights\n9\nRevenue and Other Income\n$20,950 million\n+9%\n$m\n20,950\n20,950\n19,190\n19,190\n21000\n21000\n21000\n21000\n16800\n16800\n16800\n16800\n12600\n12600\n12600\n12600\n8400\n8400\n8400\n8400\n4200\n4200\n4200\n4200\n0\n0\n0\n0\n20,950\n20,950\n19,190\n19,190\n15,867 16,311\n15,867 16,311\n15,867 16,311\n15,867 16,311\n13,180\n13,180\n13,180\n13,180\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021\nProfit Attributable to Shareholders\n$12,535 million\n+9%\n$m\n13000\n13000\n12,535\n12,535\n13000\n13000\n11,505\n11,505\n12,535\n12,535\n11,505\n11,505\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n10400\n10400\n9,312\n9,312\n9,391\n9,391\n7800\n7800\n7,404\n7,404\n7800\n7800\n7,404\n7,404\n5200\n5200\n5200\n5200\n2600\n2600\n2600\n2600\n0\n0\n0\n0\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n2017\n2017\n2018\n2018\n2019\n2019\n2020\n2020\n2021\n2021\n10 HKEX Annual Report 2021\nEBITDA\n$16,269 million\n+11%\n$m\n16,269\n16,269\n14,641\n14,641\n17000\n17000\n17000\n17000\n13600\n13600\n13600\n13600\n10200\n10200\n10200\n10200\n6800\n6800\n6800\n6800\n3400\n3400\n3400\n3400\n0\n0\n0\n0\n16,269\n16,269\n14,641\n14,641\n11,757 12,263\n11,757 12,263\n11,757 12,263\n11,757 12,263\n9,614\n9,614\n9,614\n9,614\n2017 2018 2019 2020 2021\n2017 2018 2019 2020 2021",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000473_segments",
      "report_id": "ID_000473",
      "company_name": "HKEX",
      "year": 2021,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Cash, Equity and Financial Derivatives, Commodities, Post Trade, Technology",
      "golden_context": "Page 137:\n\nOperating Segments\nAccounting Policy\nOperating segments are reported in a manner consistent with the internal management reports that are used\nto make strategic decisions provided to the chief operating decision-maker. The chief operating decision-\nmaker, who is responsible for allocating resources and assessing performance of the operating segments, is\nthe Chief Executive Officer of HKEX. Information relating to segment assets and liabilities is not disclosed as\nsuch information is not regularly reported to the chief operating decision-maker.\nThe accounting policies of the reportable segments are the same as the Group’s accounting policies.\nTaxation charge/credit is not allocated to reportable segments.\nThe Group has five reportable segments (“Corporate Items” is not a reportable segment). The segments are\nmanaged separately as each segment offers different products and services and requires different information\ntechnology systems and marketing strategies.\nThe operations in each of the Group’s reportable segments are as follows:\nThe Cash segment covers all equity products traded on the Cash Market platforms of The Stock Exchange of\nHong Kong Limited (Stock Exchange), the Shanghai Stock Exchange and the Shenzhen Stock Exchange through\nShanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (Stock Connect), sales of market\ndata relating to these products and other related activities. The major sources of revenue of the segment are\ntrading fees, trading tariffs, listing fees of equity products and market data fees.\nThe Equity and Financial Derivatives segment refers to derivatives products traded on the Stock Exchange and\nHong Kong Futures Exchange Limited (Futures Exchange) and other related activities. These include the provision\nand maintenance of trading platforms for a range of equity and financial derivatives products, such as stock and\nequity index futures and options, derivative warrants (DWs), callable bull/bear contracts (CBBCs) and warrants, and\nsales of related market data. The major sources of revenue are trading fees, trading tariffs, listing fees of derivatives\nproducts and market data fees.\nThe Commodities segment refers to the operations of The London Metal Exchange (LME), which operates an\nexchange in the UK for the trading of base, ferrous and precious metals futures and options contracts, and the\noperations of Qianhai Mercantile Exchange Co., Ltd. (QME), the commodity trading platform in the Mainland. It also\ncovers the commodities contracts traded on the Futures Exchange. The major sources of revenue of the segment\nare trading fees of commodity products, commodity market data fees and fees from ancillary operations.\nThe Post Trade segment refers to the operations of the five clearing houses, which are responsible for clearing,\nsettlement and custodian activities of the exchanges of the Group and Northbound trades under Stock Connect,\nand clearing and settlement of over-the-counter derivatives contracts. Its principal sources of revenue are derived\nfrom providing clearing, settlement, depository, custody and nominee services and net investment income earned\non the Margin Funds and Clearing House Funds.\nThe Technology segment refers to all services in connection with providing users with access to the platform and\ninfrastructure of the Group, and services provided by BayConnect Technology Company Limited (BayConnect). Its\nmajor sources of revenue are network, terminal user, data line and software sub-license fees and hosting services\nfees.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_cash_flow",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 14956m, investing: -1700m, financing: -10373m",
      "golden_context": "Page 139-141:\n\nConsolidated Statement of Cash Flows\nFor the year ended 31 December 2022\nNote\n2022\n$m\n2021\n$m\n1,894 (1,557)\n14,956 12,340\n(1,284) (1,070)\n(451) 3,276\n(512) (429)\n(349)\nCash flows from principal operating activities\nNet cash inflow from principal operating activities 47(a) 13,062 13,897\nCash flows from other operating activities\nNet redemption from/(payments to) external fund managers for sales/\n(purchases) of financial assets measured at fair value through profit or loss Net cash inflow from operating activities Cash flows from investing activities\nPayments for purchases of fixed assets and intangible assets Net (increase)/decrease in financial assets of Corporate Funds:\n(Increase)/decrease in time deposits with original maturities\nmore than three months Proceeds received upon maturity of financial assets measured\nat amortised cost (excluding time deposits) 316 810\nPayments for purchases of financial assets measured at amortised\ncost (excluding time deposits) Payments for financial assets measured at fair value through profit or loss– Interest received from financial assets measured at fair value through other\ncomprehensive income 207 38\nDividend received from a joint venture 24–\nNet cash (outflow)/inflow from investing activities (1,700) 2,276\nCash flows from financing activities\nPurchases of shares for Share Award Scheme Payments of other finance costs Dividends paid to shareholders of HKEX Lease payments 47(b), 47(c)\n– Capital elements (309) (310)\n– Interest elements (68) (79)\nCapital injection by non-controlling interests to a subsidiary 85–\nNet cash outflow from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at 1 Jan 2,883 1,947\n12,398 10,442\nExchange differences on cash and cash equivalents (23) 9\nCash and cash equivalents at 31 Dec Analysis of cash and cash equivalents\nCash on hand and balances and deposits with banks and\nshort-term investments of Corporate Funds 21 15,952 12,900\nLess: Cash reserved for supporting Skin-in-the-Game and\ndefault fund credits of clearing houses 21(b) (694) (502)\n(350) (681)\n(66) (72)\n(9,665) (11,527)\n(10,373) (12,669)\n15,258 12,398\n15,258 12,398\nThe notes on pages 136 to 220 are an integral part of these consolidated financial statements.\n(a) “Cash flows from principal operating activities” is a non-Hong Kong Financial Reporting Standard (non-HKFRS)\nmeasure used by management for monitoring cash flows of the Group (defined in note 1) and represents the cash\nflows generated from the trading and clearing operations of the four exchanges and five clearing houses and\nancillary services of the Group. This non-HKFRS measure may not be comparable to similar measures presented\nby other companies. Cash flows from principal operating activities and cash flows from other operating activities\ntogether represent cash flows from operating activities as defined by Hong Kong Accounting Standard (HKAS) 7:\nStatement of Cash Flows.\n135\nNotes to the Consolidated Financial Statements\n1. General Information\nHong Kong Exchanges and Clearing Limited (HKEX or the Company) and its subsidiaries (collectively, the Group)\nown and operate the only stock exchange and futures exchange in Hong Kong and their related clearing houses, a\nclearing house for clearing over-the-counter derivatives contracts in Hong Kong, an exchange and a clearing house\nfor the trading and clearing of base and ferrous metals futures and options contracts operating in the United\nKingdom (UK), and a commodity trading platform in the Mainland.\nHKEX is a limited company incorporated and domiciled in Hong Kong. The address of its registered office is 8th\nFloor, Two Exchange Square, 8 Connaught Place, Central, Hong Kong.\nThese consolidated financial statements were approved for issue by the Board of Directors (Board) on 23 February\n2023.\n2. Principal Accounting Policies\nApart from the accounting policies presented within the corresponding notes to the consolidated financial\nstatements, other principal accounting policies applied in the preparation of these consolidated financial\nstatements are set out below. These policies have been consistently applied to all the years presented, unless\notherwise stated.\n(a) Statement of compliance\nThese consolidated financial statements have been prepared in accordance with Hong Kong Financial\nReporting Standards (HKFRSs) issued by the Hong Kong Institute of Certified Public Accountants (HKICPA),\nand accounting principles generally accepted in Hong Kong. These consolidated financial statements also\ncomply with the applicable disclosure requirements of the Rules Governing the Listing of Securities on The\nStock Exchange of Hong Kong Limited (Main Board Listing Rules) and the applicable requirements of the\nHong Kong Companies Ordinance (Chapter 622).\n(b) Basis of preparation\nThese consolidated financial statements have been prepared under the historical cost convention, as\nmodified by the revaluation of certain financial assets and financial liabilities measured at fair value.\nThe preparation of consolidated financial statements requires the use of certain critical accounting estimates,\nand requires management to exercise its judgement when applying the Group’s accounting policies. Areas\ninvolving significant estimates and judgement are disclosed in note 3.\n136 HKEX Annual Report 2022\n2. Principal Accounting Policies (continued)\n(b) Basis of preparation (continued)\nAdoption of new/revised HKFRSs\nIn 2022, the Group has adopted the following amendments to HKFRSs which are pertinent to the Group’s\noperations:\nAmendments to HKAS 16 Amendments to HKAS 37 Amendments to HKFRS 3 Amendments to HKFRS 16 Property, Plant and Equipment: Proceeds before Intended Use2\nProvisions, Contingent Liabilities and Contingent Assets: Onerous\nContracts – Cost of Fulfilling a Contract2\nBusiness Combinations: Reference to the Conceptual Framework2\nLeases: COVID-19-Related Rent Concessions beyond 30 June\n20211\nAnnual Improvements to HKFRSs\n2018 – 2020:\nAmendments to HKFRS 9 Financial Instruments: Fees in the “10 per cent” Test for\nDerecognition of Financial Liabilities2\nLeases: Lease Incentives2\nAmendments to Illustrative\nExamples accompanying\nHKFRS 16\n1 Effective for accounting periods beginning on or after 1 April 2021\n2 Effective for accounting periods beginning on or after 1 January 2022\n2 Effective for accounting periods beginning on or after 1 January 2022\nThe adoption of these amendments did not have any financial impact on the Group.\nNew/revised HKFRSs issued before 31 December 2022 but not yet effective and not early adopted\nThe Group has not applied the following amendments to HKFRSs which were issued before 31 December\n2022 and are pertinent to its operations but not yet effective:\nPresentation of Financial Statements: Classification of Liabilities as\nPresentation of Financial Statements: Non-current Liabilities with\nPresentation of Financial Statements: Disclosure of Accounting\nAccounting Policies, Changes in Accounting Estimates and Errors:\nIncome Taxes: Deferred Tax related to Assets and Liabilities arising\n1 Effective for accounting periods beginning on or after 1 January 2023\n2 Effective for accounting periods beginning on or after 1 January 2024\n2 Effective for accounting periods beginning on or after 1 January 2024\nThe adoption of the amendments to HKFRSs would not have any financial impact on the Group.\nThere are no other new/revised HKFRSs not yet effective that are expected to have any financial impact on\nthe Group.\nAmendments to HKAS 1 Current or Non-current2\nAmendments to HKAS 1 Covenants2\nAmendments to HKAS 1 Policies1\nAmendments \n2. Principal Accounting Policies (continued)\n(c) Basis of consolidation\nSubsidiaries are entities (including structured entities) over which the Group has control. Subsidiaries are\nfully consolidated from the date on which control is transferred to the Group. They are deconsolidated from\nthe date that control ceases. All material intra-group transactions and balances have been eliminated on\nconsolidation.\nAccounting policies of subsidiaries have been aligned on consolidation to ensure consistency with the\npolicies adopted by the Group.\n(d) Impairment of non-financial assets\nAssets with an indefinite useful life, which include interests in joint ventures, goodwill and tradenames, are\nnot subject to amortisation but are tested at least annually for impairment. Assets subject to amortisation\nare reviewed for impairment whenever there is any indication that the carrying amount may not be\nrecoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds\nits recoverable amount (i.e., the higher of an asset’s fair value less costs to sell and value-in-use). Such\nimpairment losses are recognised in the consolidated income statement. An impairment loss other than\ngoodwill is reversed if the circumstances and events leading to the impairment cease to exist.\n(e) Foreign currency translation\n(i) Functional and presentation currency\nItems included in the financial statements of each of the Group’s entities are measured using the\ncurrency of the primary economic environment in which the entity operates (the functional currency).\nThe consolidated financial statements are presented in Hong Kong Dollar (HKD), which is the\nCompany’s functional and presentation currency.\n(ii) Transactions and balances\nForeign currency transactions are translated into the functional currency using the exchange\nrates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the\nsettlement of such transactions and from the translation at year-end exchange rates of monetary\nassets and liabilities denominated in foreign currencies are recognised in the consolidated income\nstatement. They are deferred in hedging reserve under equity if they relate to qualifying cash flow\nhedges (note 44(a)).\nTranslation differences on non-monetary financial assets that are classified as financial assets\nmeasured at fair value through profit or loss are reported as part of the fair value gain or loss.\n(iii) Group companies\nThe results and financial position of each of the Group’s entities that have a non-HKD functional\ncurrency are translated into HKD as follows:\n• Assets and liabilities (including goodwill and fair value adjustments arising on the acquisition of\nforeign subsidiaries) for each statement of financial position presented are translated at the closing\nrate at the end of the reporting period;\n• Income and expenses for each income statement are translated at the exchange rates approximating\nthe foreign exchange rates ruling at the dates of the transactions; and\n• All resulting currency translation differences are recognised in other comprehensive income in the\nexchange reserve under equity.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_company_type",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 232:\n\nHong Kong Exchanges and\nClearing Limited\n8/F, Two Exchange Square,\n8 Connaught Place, Central, Hong Kong\nT (852) 2522 1122 info@hkex.com.hk\nF (852) 2295 3106\nhkexgroup.com | hkex.com.hk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_key_financials",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenue and other income 18456m, EBITDA was 13185m, basic EPS: 7.96",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other income\nOperating Expenses\n-12%\n2022 revenue and other income of $18,456 million\nwas 12 per cent lower than the record 2021\n•\n•\nCore business revenue was down 9 per cent against\n2021, reflecting reduced trading and clearing fees\nfrom lower Headline ADT and Stock Connect\nNorthbound ADT, and lower depository fees and\nlisting fees. This was partly offset by the increase in\nnet investment income from Margin Funds and\nhigher trading fees from the Derivatives Market\nNet investment loss on Corporate Funds was $48\nmillion (2021: income of $708 million), as the\nExternal Portfolio had net fair value losses of $486\nmillion in 2022 (2021: gains of $364 million), partly\noffset by higher investment income from internally-\nmanaged Corporate Funds\n+12%\nOperating expenses were 12 per cent higher than\n2021, attributable to higher staff costs and\nprofessional fees\nEBITDA\nProfit Attributable to Shareholders\n-19%\nEBITDA1 was 19 per cent lower than 2021 at $13,185\nmillion, with EBITDA margin at 72 per cent, 6 per\ncent lower than 2021\n-20%\nProfit attributable to shareholders was $10,078\nmillion, 20 per cent lower than the record 2021\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses.\n08 HKEX Annual Report 2022\nKey Financials\n2022\n$m\n2021\n$m Change\nRevenue and other income\nCore business revenue 18,374 20,103 (9%)\nHKEX Foundation donation income 130 139 (6%)\nNet investment (loss)/income of Corporate Funds (48) 708 N/A\n18,456 20,950 (12%)\nOperating expenses 5,095 4,529 12%\nEBITDA 13,185 16,269 (19%)\nProfit attributable to shareholders 10,078 12,535 (20%)\nCapital expenditure 1,184 1,127 5%\nBasic earnings per share $7.96 $9.91 (20%)\nFirst interim dividend per share $3.45 $4.69 (26%)\nSecond interim dividend per share $3.69 $4.18 (12%)\n$7.14 $8.87 (20%)\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2022 2021 Change\nADT of equity products traded on the Stock Exchange 1 ($bn) 109.0 146.6 (26%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange\n($bn) 15.9 20.1 (21%)\nADT traded on the Stock Exchange 1, 2 (Headline ADT) ($bn) 124.9 166.7 (25%)\nADT of Northbound Trading of Stock Connect 1 (RMBbn) 100.4 120.1 (16%)\nADT of Southbound Trading of Stock Connect 1 ($bn) 31.7 41.7 (24%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 715\n4 538 33%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 588 637 (8%)\nChargeable ADV 3 of metals contracts traded on the LME\n(’000 lots) 506 547 (7%)\nADT of Northbound Bond Connect (RMBbn) 32.2\n4 26.6 21%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_revenue",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "18456m revenue and other income",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other income\nOperating Expenses\n-12%\n2022 revenue and other income of $18,456 million\nwas 12 per cent lower than the record 2021\n•\n•\nCore business revenue was down 9 per cent against\n2021, reflecting reduced trading and clearing fees\nfrom lower Headline ADT and Stock Connect\nNorthbound ADT, and lower depository fees and\nlisting fees. This was partly offset by the increase in\nnet investment income from Margin Funds and\nhigher trading fees from the Derivatives Market\nNet investment loss on Corporate Funds was $48\nmillion (2021: income of $708 million), as the\nExternal Portfolio had net fair value losses of $486\nmillion in 2022 (2021: gains of $364 million), partly\noffset by higher investment income from internally-\nmanaged Corporate Funds\n+12%\nOperating expenses were 12 per cent higher than\n2021, attributable to higher staff costs and\nprofessional fees\nEBITDA\nProfit Attributable to Shareholders\n-19%\nEBITDA1 was 19 per cent lower than 2021 at $13,185\nmillion, with EBITDA margin at 72 per cent, 6 per\ncent lower than 2021\n-20%\nProfit attributable to shareholders was $10,078\nmillion, 20 per cent lower than the record 2021\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses.\n08 HKEX Annual Report 2022\nKey Financials\n2022\n$m\n2021\n$m Change\nRevenue and other income\nCore business revenue 18,374 20,103 (9%)\nHKEX Foundation donation income 130 139 (6%)\nNet investment (loss)/income of Corporate Funds (48) 708 N/A\n18,456 20,950 (12%)\nOperating expenses 5,095 4,529 12%\nEBITDA 13,185 16,269 (19%)\nProfit attributable to shareholders 10,078 12,535 (20%)\nCapital expenditure 1,184 1,127 5%\nBasic earnings per share $7.96 $9.91 (20%)\nFirst interim dividend per share $3.45 $4.69 (26%)\nSecond interim dividend per share $3.69 $4.18 (12%)\n$7.14 $8.87 (20%)\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2022 2021 Change\nADT of equity products traded on the Stock Exchange 1 ($bn) 109.0 146.6 (26%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange\n($bn) 15.9 20.1 (21%)\nADT traded on the Stock Exchange 1, 2 (Headline ADT) ($bn) 124.9 166.7 (25%)\nADT of Northbound Trading of Stock Connect 1 (RMBbn) 100.4 120.1 (16%)\nADT of Southbound Trading of Stock Connect 1 ($bn) 31.7 41.7 (24%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 715\n4 538 33%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 588 637 (8%)\nChargeable ADV 3 of metals contracts traded on the LME\n(’000 lots) 506 547 (7%)\nADT of Northbound Bond Connect (RMBbn) 32.2\n4 26.6 21%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_revenue_growth",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "-12% revenue decline (revenue and other income)",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other income\nOperating Expenses\n-12%\n2022 revenue and other income of $18,456 million\nwas 12 per cent lower than the record 2021\n•\n•\nCore business revenue was down 9 per cent against\n2021, reflecting reduced trading and clearing fees\nfrom lower Headline ADT and Stock Connect\nNorthbound ADT, and lower depository fees and\nlisting fees. This was partly offset by the increase in\nnet investment income from Margin Funds and\nhigher trading fees from the Derivatives Market\nNet investment loss on Corporate Funds was $48\nmillion (2021: income of $708 million), as the\nExternal Portfolio had net fair value losses of $486\nmillion in 2022 (2021: gains of $364 million), partly\noffset by higher investment income from internally-\nmanaged Corporate Funds\n+12%\nOperating expenses were 12 per cent higher than\n2021, attributable to higher staff costs and\nprofessional fees\nEBITDA\nProfit Attributable to Shareholders\n-19%\nEBITDA1 was 19 per cent lower than 2021 at $13,185\nmillion, with EBITDA margin at 72 per cent, 6 per\ncent lower than 2021\n-20%\nProfit attributable to shareholders was $10,078\nmillion, 20 per cent lower than the record 2021\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses.\n08 HKEX Annual Report 2022\nKey Financials\n2022\n$m\n2021\n$m Change\nRevenue and other income\nCore business revenue 18,374 20,103 (9%)\nHKEX Foundation donation income 130 139 (6%)\nNet investment (loss)/income of Corporate Funds (48) 708 N/A\n18,456 20,950 (12%)\nOperating expenses 5,095 4,529 12%\nEBITDA 13,185 16,269 (19%)\nProfit attributable to shareholders 10,078 12,535 (20%)\nCapital expenditure 1,184 1,127 5%\nBasic earnings per share $7.96 $9.91 (20%)\nFirst interim dividend per share $3.45 $4.69 (26%)\nSecond interim dividend per share $3.69 $4.18 (12%)\n$7.14 $8.87 (20%)\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2022 2021 Change\nADT of equity products traded on the Stock Exchange 1 ($bn) 109.0 146.6 (26%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange\n($bn) 15.9 20.1 (21%)\nADT traded on the Stock Exchange 1, 2 (Headline ADT) ($bn) 124.9 166.7 (25%)\nADT of Northbound Trading of Stock Connect 1 (RMBbn) 100.4 120.1 (16%)\nADT of Southbound Trading of Stock Connect 1 ($bn) 31.7 41.7 (24%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 715\n4 538 33%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 588 637 (8%)\nChargeable ADV 3 of metals contracts traded on the LME\n(’000 lots) 506 547 (7%)\nADT of Northbound Bond Connect (RMBbn) 32.2\n4 26.6 21%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000474_segments",
      "report_id": "ID_000474",
      "company_name": "HKEX",
      "year": 2022,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Cash, Equity and Financial Derivatives, Commodities, Post Trade, Technology",
      "golden_context": "Page 144:\n\n4. Operating Segments\nAccounting Policy\nOperating segments are reported in a manner consistent with the internal management reports that\nare used to make strategic decisions provided to the chief operating decision-maker. The chief operating\ndecision-maker, who is responsible for allocating resources and assessing performance of the operating\nsegments, is the Chief Executive Officer of HKEX. Information relating to segment assets and liabilities is\nnot disclosed as such information is not regularly reported to the chief operating decision-maker.\nThe accounting policies of the reportable segments are the same as the Group’s accounting policies.\nTaxation charge/credit is not allocated to reportable segments.\nThe Group has five reportable segments (“Corporate Items” is not a reportable segment). The segments are\nmanaged separately as each segment offers different products and services and requires different information\ntechnology systems and marketing strategies.\nThe operations in each of the Group’s reportable segments are as follows:\nThe Cash segment covers all equity products traded on the Cash Market platforms of The Stock Exchange of\nHong Kong Limited (Stock Exchange), the Shanghai Stock Exchange and the Shenzhen Stock Exchange through\nShanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (Stock Connect), sales of market\ndata relating to these products and other related activities. The major sources of revenue of the segment are\ntrading fees, trading tariffs, listing fees of equity products and market data fees.\nThe Equity and Financial Derivatives segment refers to derivatives products traded on the Stock Exchange and\nHong Kong Futures Exchange Limited (Futures Exchange) and other related activities. These include the provision\nand maintenance of trading platforms for a range of equity and financial derivatives products, such as stock and\nequity index futures and options, derivative warrants (DWs), callable bull/bear contracts (CBBCs) and warrants,\nand sales of related market data. The major sources of revenue are trading fees, trading tariffs, listing fees of\nderivatives products and market data fees.\nThe Commodities segment refers to the operations of The London Metal Exchange (LME), which operates an\nexchange in the UK for the trading of base, ferrous and precious metals futures and options contracts, and the\noperations of Qianhai Mercantile Exchange Co., Ltd. (QME), the commodity trading platform in the Mainland.\nIt also covers the commodities contracts traded on the Futures Exchange. The major sources of revenue of the\nsegment are trading fees of commodity products, commodity market data fees and fees from ancillary operations.\nThe Post Trade segment refers to the operations of the five clearing houses, which are responsible for clearing,\nsettlement and custodian activities of the exchanges of the Group and Northbound trades under Stock Connect,\nand clearing and settlement of over-the-counter derivatives contracts. Its principal sources of revenue are derived\nfrom providing clearing, settlement, depository, custody and nominee services and net investment income earned\non the Margin Funds and Clearing House Funds.\nThe Technology segment refers to all services in connection with providing users with access to the platform and\ninfrastructure of the Group, and services provided by BayConnect Technology Company Limited (BayConnect). Its\nmajor sources of revenue are network, terminal user, data line and software sub-license fees and hosting services\nfees.\n140 HKEX Annual Report 2022\n4. Operating Segments (continued)\nCentral income (including net investment income of Corporate Funds and HKEX Foundation donation income) and\ncentral costs (including costs of central support functions that provide services to all operating segments, HKEX\nFoundation charitable donations and other costs not directly related to any operating segment) are included as\n“Corporate Items”.\nThe chief operating decision-maker assesses the performance of the operating segments principally based on their\nEBITDA (defined below).\nEBITDA is defined as earnings before interest expenses and other finance costs, taxation, depreciation\nand amortisation. It excludes the Group’s share of results of the joint ventures and other non-recurring\ncosts. EBITDA is a non-HKFRS measure used by management for monitoring business performance. It\nmay not be comparable to similar measures presented by other companies.\nAn analysis by operating segment of the Group’s EBITDA, profit before taxation and other selected financial\ninformation (including analysis of revenue by timing of revenue recognition) for the year, is set out as follows:\n2022\nCash\n$m\nEquity and\nFinancial\nDerivatives\n$m\nCommodities\n$m\nPost\nTrade\n$m\nTechnology\n$m\nCorporate\nItems\n$m\nGroup\n$m\nTiming of revenue recog",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_cash_flow",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 11500m, investing: -6290m, financing: -11250m",
      "golden_context": "Page 141:\n\nConsolidated Statement of Cash Flows\nFor the year ended 31 December 2023\nNote\n2023\n$m\n2022\n$m\nCash flows from principal operating activities\nNet cash inflow from principal operating activities (non–HKFRS measure) 47(a) 11,294 13,062\nCash flows from other operating activities\nNet redemption from external fund managers for sales of financial assets\nmeasured at fair value through profit or loss 206 1,894\nNet cash inflow from operating activities 11,500 14,956\nCash flows from investing activities\nPayments for purchases of fixed assets and intangible assets (1,386) (1,284)\nNet (increase)/decrease in financial assets of Corporate Funds:\nIncrease in time deposits with original maturities more than three months (4,810) (451)\nProceeds received upon maturity of financial assets measured at amortised cost\n(excluding time deposits) 502 316\nPayments for purchases of financial assets measured at amortised cost\n(excluding time deposits) (1,460) (512)\nInterest received from long–term debt securities classified as financial assets\nmeasured at amortised cost 37–\nInterest received from debt securities measured at fair value through other\ncomprehensive income 806 207\nDividend received from a joint venture 21 24\nNet cash outflow from investing activities (6,290) (1,700)\nCash flows from financing activities\nPurchases of shares for Share Award Scheme (448) (350)\nPayments of other finance costs (69) (66)\nDividends paid to shareholders of HKEX (10,316) (9,665)\nLease payments 47(b),47(c)\n– Capital elements (307) (309)\n– Interest elements (59) (68)\nCapital injection by non–controlling interests to a subsidiary– 85\nPayment for written put options exercised by non–controlling interests 39 (51)–\nNet cash outflow from financing activities (11,250) (10,373)\nNet (decrease)/increase in cash and cash equivalents (6,040) 2,883\nCash and cash equivalents at 1 Jan 15,258 12,398\nExchange differences on cash and cash equivalents (6) (23)\nCash and cash equivalents at 31 Dec 9,212 15,258\nAnalysis of cash and cash equivalents\nCash, bank balances and short–term investments of Corporate Funds 21 10,286 15,952\nLess: Ca sh reserved for supporting Skin-in-the-Game and default fund credits\nof clearing houses 21(b) (1,074) (694)\n9,212 15,258\nThe notes on pages 138 to 220 are an integral part of these consolidated financial statements.\n(a) “Cash flows from principal operating activities” is a non–Hong Kong Financial Reporting Standard (non–HKFRS)\nmeasure used by management for monitoring cash flows of the Group (defined in note 1) and represents the cash\nflows generated from the trading and clearing operations of the four exchanges and five clearing houses and\nancillary services of the Group. This non–HKFRS measure may not be comparable to similar measures presented\nby other companies. Cash flows from principal operating activities and cash flows from other operating activities\ntogether represent cash flows from operating activities as defined by Hong Kong Accounting Standard (HKAS) 7:\nStatement of Cash Flows.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_company_type",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 232:\n\nHong Kong Exchanges and\nClearing Limited\n8/F, Two Exchange Square,\n8 Connaught Place, Central, Hong Kong\nT (852) 2522 1122 info@hkex.com.hk\nF (852) 2295 3106\nhkexgroup.com | hkex.com.hk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_key_financials",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Revenue and other income: 20516m, EBITDA: 14828m, profit attributable to shareholders was 11862m, basic earnings per share: 9.37",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other Income Operating Expenses\n+11% +7%\nRevenue and other income and profit in 2023 were\nsecond best on record, after exceptional 2021\nOperating expenses were 7 per cent higher than\n2022, attributable to higher staff costs and IT costs\n2023 revenue and other income was $20,516 million,\n11 per cent higher than 2022\n•\nCore business revenue was up 3 per cent against\n2022, attributable to record net investment\nincome from Margin Funds and Clearing House\nFunds; and increase in LME trading and clearing\nfees in 2023. The increase was partly offset by\nlower trading and clearing fees from lower\nHeadline ADT and lower listing fees\n•\nNet investment income from Corporate Funds\nwas $1,487 million (2022: loss of $48 million),\ndriven by net fair value gains on the External\nPortfolio of $421 million (2022: losses of $486\nmillion) and higher investment income from\ninternally-managed Corporate Funds, partly offset\nby the non-recurring losses on valuation of the\nGroup’s unlisted equity investments of $246\nmillion\nEBITDA1 Profit Attributable to Shareholders\n+12% +18%\nEBITDA\n1 was 12 per cent higher than 2022, at\n$14,828 million, with EBITDA margin\n1 percentage point higher than 2022\nProfit attributable to shareholders was $11,862\n1 at 73 per cent,\nmillion, 18 per cent higher than 2022\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2023\nKey Financials\n2023\n$m\n2022\n$m Change\nRevenue and other income\nCore business revenue 18,941 18,374 3%\nDonation income of HKEX Foundation 88 130 (32%)\nNet investment income/(loss) of Corporate Funds 1,487 (48) N/A\nOperating expenses 20,516 18,456 11%\n5,441 5,095 7%\nEBITDA (non-HKFRS measure) 14,828 13,185 12%\nProfit attributable to shareholders 11,862 10,078 18%\nCapital expenditure 1,381 1,184 17%\nBasic earnings per share $9.37 $7.96 18%\nFirst interim dividend per share $4.50 $3.45 30%\nSecond interim dividend per share $3.91 $3.69 6%\n$8.41 $7.14 18%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2023 2022 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 93.2 109.0 (14%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 15.9 (26%)\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 105.0 124.9 (16%)\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 108.3 100.4 8%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 31.1 31.7 (2%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 7424 715 4%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 612 588 4%\nChargeable ADV\n3 of metals contracts traded on the LME\n(’000 lots) 562 506 11%\nADT of Northbound Bond Connect (RMBbn) 40.04 32.2 24%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\n4 New record high in 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_revenue",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Revenue and other income: 20516m",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other Income Operating Expenses\n+11% +7%\nRevenue and other income and profit in 2023 were\nsecond best on record, after exceptional 2021\nOperating expenses were 7 per cent higher than\n2022, attributable to higher staff costs and IT costs\n2023 revenue and other income was $20,516 million,\n11 per cent higher than 2022\n•\nCore business revenue was up 3 per cent against\n2022, attributable to record net investment\nincome from Margin Funds and Clearing House\nFunds; and increase in LME trading and clearing\nfees in 2023. The increase was partly offset by\nlower trading and clearing fees from lower\nHeadline ADT and lower listing fees\n•\nNet investment income from Corporate Funds\nwas $1,487 million (2022: loss of $48 million),\ndriven by net fair value gains on the External\nPortfolio of $421 million (2022: losses of $486\nmillion) and higher investment income from\ninternally-managed Corporate Funds, partly offset\nby the non-recurring losses on valuation of the\nGroup’s unlisted equity investments of $246\nmillion\nEBITDA1 Profit Attributable to Shareholders\n+12% +18%\nEBITDA\n1 was 12 per cent higher than 2022, at\n$14,828 million, with EBITDA margin\n1 percentage point higher than 2022\nProfit attributable to shareholders was $11,862\n1 at 73 per cent,\nmillion, 18 per cent higher than 2022\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2023\nKey Financials\n2023\n$m\n2022\n$m Change\nRevenue and other income\nCore business revenue 18,941 18,374 3%\nDonation income of HKEX Foundation 88 130 (32%)\nNet investment income/(loss) of Corporate Funds 1,487 (48) N/A\nOperating expenses 20,516 18,456 11%\n5,441 5,095 7%\nEBITDA (non-HKFRS measure) 14,828 13,185 12%\nProfit attributable to shareholders 11,862 10,078 18%\nCapital expenditure 1,381 1,184 17%\nBasic earnings per share $9.37 $7.96 18%\nFirst interim dividend per share $4.50 $3.45 30%\nSecond interim dividend per share $3.91 $3.69 6%\n$8.41 $7.14 18%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2023 2022 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 93.2 109.0 (14%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 15.9 (26%)\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 105.0 124.9 (16%)\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 108.3 100.4 8%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 31.1 31.7 (2%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 7424 715 4%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 612 588 4%\nChargeable ADV\n3 of metals contracts traded on the LME\n(’000 lots) 562 506 11%\nADT of Northbound Bond Connect (RMBbn) 40.04 32.2 24%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\n4 New record high in 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_revenue_growth",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue and other income growth: 11%",
      "golden_context": "Page 12:\n\nFinancial Highlights\nAnnual Results\nRevenue and Other Income Operating Expenses\n+11% +7%\nRevenue and other income and profit in 2023 were\nsecond best on record, after exceptional 2021\nOperating expenses were 7 per cent higher than\n2022, attributable to higher staff costs and IT costs\n2023 revenue and other income was $20,516 million,\n11 per cent higher than 2022\n•\nCore business revenue was up 3 per cent against\n2022, attributable to record net investment\nincome from Margin Funds and Clearing House\nFunds; and increase in LME trading and clearing\nfees in 2023. The increase was partly offset by\nlower trading and clearing fees from lower\nHeadline ADT and lower listing fees\n•\nNet investment income from Corporate Funds\nwas $1,487 million (2022: loss of $48 million),\ndriven by net fair value gains on the External\nPortfolio of $421 million (2022: losses of $486\nmillion) and higher investment income from\ninternally-managed Corporate Funds, partly offset\nby the non-recurring losses on valuation of the\nGroup’s unlisted equity investments of $246\nmillion\nEBITDA1 Profit Attributable to Shareholders\n+12% +18%\nEBITDA\n1 was 12 per cent higher than 2022, at\n$14,828 million, with EBITDA margin\n1 percentage point higher than 2022\nProfit attributable to shareholders was $11,862\n1 at 73 per cent,\nmillion, 18 per cent higher than 2022\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2023\nKey Financials\n2023\n$m\n2022\n$m Change\nRevenue and other income\nCore business revenue 18,941 18,374 3%\nDonation income of HKEX Foundation 88 130 (32%)\nNet investment income/(loss) of Corporate Funds 1,487 (48) N/A\nOperating expenses 20,516 18,456 11%\n5,441 5,095 7%\nEBITDA (non-HKFRS measure) 14,828 13,185 12%\nProfit attributable to shareholders 11,862 10,078 18%\nCapital expenditure 1,381 1,184 17%\nBasic earnings per share $9.37 $7.96 18%\nFirst interim dividend per share $4.50 $3.45 30%\nSecond interim dividend per share $3.91 $3.69 6%\n$8.41 $7.14 18%\nDividend payout ratio 90% 90% –\nKey Market Statistics\n2023 2022 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 93.2 109.0 (14%)\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 15.9 (26%)\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 105.0 124.9 (16%)\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 108.3 100.4 8%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 31.1 31.7 (2%)\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 7424 715 4%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 612 588 4%\nChargeable ADV\n3 of metals contracts traded on the LME\n(’000 lots) 562 506 11%\nADT of Northbound Bond Connect (RMBbn) 40.04 32.2 24%\n1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades) and other non-chargeable trades.\n4 New record high in 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000475_segments",
      "report_id": "ID_000475",
      "company_name": "HKEX",
      "year": 2023,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Cash, Equity and Financial Derivatives, Commodities, Data and Connectivity",
      "golden_context": "Page 146:\n\n4. Operating Segments (continued)\nThe operations in each of the Group’s reportable segments after reorganisation are as follows:\nThe Cash segment covers all equity products traded on the Cash Market platforms of The Stock Exchange of Hong\nKong Limited (Stock Exchange) and those traded through Shanghai–Hong Kong Stock Connect and Shenzhen–\nHong Kong Stock Connect (Stock Connect); the clearing, settlement and custodian activities relating to these\nproducts and any other related activities. The major sources of revenue of the segment are trading fees, clearing\nand settlement fees, listing fees, depository, custody and nominee services fees and net investment income\nearned on the Margin Funds and Clearing House Funds relating to these products.\nThe Equity and Financial Derivatives segment refers to derivatives products traded on the Stock Exchange and\nHong Kong Futures Exchange Limited (Futures Exchange); the clearing, settlement and custodian activities\nrelating to these products and over–the–counter (OTC) derivatives contracts and other related activities. These\ninclude the provision and maintenance of trading and clearing platforms for a range of equity and financial\nderivatives products, such as stock and equity index futures and options, derivative warrants (DWs), callable bull/\nbear contracts (CBBCs) and warrants, and OTC derivatives contracts. The major sources of revenue are trading\nfees and trading tariffs, clearing and settlement fees, listing fees, depository, custody and nominee services fees\nand net investment income earned on the Margin Funds and Clearing House Funds relating to these products.\nThe Commodities segment refers to the operations of The London Metal Exchange (LME), which operates a global\nexchange in the UK, for the trading of base and ferrous metals futures and options contracts and the operations\nof its clearing house, LME Clear Limited (LME Clear). It also covers the operations of Qianhai Mercantile Exchange\nCo., Ltd. (QME), the commodity trading platform in Mainland China, and the commodities contracts traded on the\nFutures Exchange. The major sources of revenue of the segment are trading fees and clearing and settlement fees\nof commodity products, commodity market data fees, net investment income earned on the Margin Funds and\nClearing House Funds relating to these products, and fees for ancillary operations.\nThe Data and Connectivity segment covers sales of market data relating to the Hong Kong Cash and Derivatives\nMarkets, all services in connection with providing users with access to the platform and infrastructure of the Group\nand services provided by BayConnect Technology Company Limited (BayConnect). Its major sources of revenue\nare market data fees, network, terminal user, data line and software sub–license fees and hosting services fees.\n“Corporate Items” is not a business segment but comprises central income (including net investment income\nof Corporate Funds and donation income of HKEX Foundation Limited (HKEX Foundation)) and central costs\n(including costs of central support functions that provide services to all operating segments, HKEX Foundation\ncharitable donations and other costs not directly related to any operating segments).\nComparative figures have been restated to conform to the current year’s presentation.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_cash_flow",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 12774m, investing: 3194m, financing: -11261m",
      "golden_context": "Page 146:\n\nConsolidated Statement of Cash Flows\nFor the year ended 31 December 2024\nNote\n2024\n$m\n2023\n$m\n(9) 206\n12,774 11,500\n(1,604) (1,386)\nCash flows from principal operating activities\nNet cash inflow from principal operating activities (non-HKFRS measure) 47(a) 12,783 11,294\nCash flows from other operating activities\nNet (payments to)/redemption from external fund managers for (purchases)/sales\nof financial assets measured at fair value through profit or loss Net cash inflow from operating activities Cash flows from investing activities\nPayments for purchases of fixed assets and intangible assets Net decrease/(increase) in financial assets of Corporate Funds:\nDecrease/(increase) in time deposits with original maturities more than three\nmonths 11,034 (4,810)\nIncrease in debt securities with remaining maturities within twelve months upon\nacquisition (short-term debt securities) (4,173)–\nProceeds received upon maturity of debt securities with remaining maturities\nmore than twelve months upon acquisition (long-term debt securities)– 502\nPayments for purchases of long-term debt securities (3,055) (1,460)\nInterest received from long-term debt securities 967 843\nDividend received from a joint venture 25 21\nNet cash inflow/(outflow) from investing activities 3,194 (6,290)\nCash flows from financing activities\nPurchases of shares for Share Award Scheme Payments of other finance costs Dividends paid to shareholders of HKEX Lease payments 47(b),47(c)\n– Capital elements (255) (307)\n– Interest elements (55) (59)\nPayment for written put options exercised by non-controlling interests 39– Net cash outflow from financing activities Net increase/(decrease) in cash and cash equivalents 4,707 (6,040)\nCash and cash equivalents at 1 Jan 9,212 15,258\nExchange differences on cash and cash equivalents (9) (6)\nCash and cash equivalents at 31 Dec Analysis of cash and cash equivalents\nCash, bank balances and short-term investments of Corporate Funds 21 15,045 10,286\nLess: Ca sh reserved for supporting Skin-in-the-Game and default fund credits of\nclearing houses 21(b) (1,135) (1,074)\n(481) (448)\n(54) (69)\n(10,416) (10,316)\n(51)\n(11,261) (11,250)\n13,910 9,212\n13,910 9,212\nThe notes on pages 145 to 230 are an integral part of these consolidated financial statements.\n(a) “Cash flows from principal operating activities” is a non-Hong Kong Financial Reporting Standard (non-HKFRS)\nmeasure used by management for monitoring cash flows of the Group (defined in note 1) and represents the cash\nflows generated from the trading and clearing operations of the four exchanges and five clearing houses and\nancillary services of the Group. This non-HKFRS measure may not be comparable to similar measures presented\nby other companies. Cash flows from principal operating activities and cash flows from other operating activities\ntogether represent cash flows from operating activities as defined by Hong Kong Accounting Standard (HKAS) 7\nStatement of Cash Flows.\n144 HKEX Annual Report 2024\nNotes to the Consolidated Financial Statements\n1. General Information\nHong Kong Exchanges and Clearing Limited (HKEX or the Company) and its subsidiaries (collectively, the Group)\nown and operate the only stock exchange and futures exchange in Hong Kong and their related clearing houses, a\nclearing house for clearing over-the-counter derivatives contracts in Hong Kong, an exchange and a clearing house\nfor the trading and clearing of base and ferrous metals futures and options contracts operating in the United\nKingdom (UK), and a commodity trading platform in the Mainland.\nHKEX is a limited company incorporated and domiciled in Hong Kong. The address of its registered office is 8th\nFloor, Two Exchange Square, 8 Connaught Place, Central, Hong Kong.\nThese consolidated financial statements were approved for issue by the Board of Directors (Board) on 27 February\n2025.\n2. Material Accounting Policies\nApart from the accounting policies presented within the corresponding notes to the consolidated financial\nstatements, other material accounting policies applied in the preparation of these consolidated financial\nstatements are set out below. These accounting policies have been consistently applied to all the years presented,\nunless otherwise stated.\n(a) Statement of compliance\nThese consolidated financial statements have been prepared in accordance with Hong Kong Financial\nReporting Standards (HKFRSs) issued by the Hong Kong Institute of Certified Public Accountants (HKICPA),\nand accounting principles generally accepted in Hong Kong. These consolidated financial statements also\ncomply with the applicable disclosure requirements of the Rules Governing the Listing of Securities on The\nStock Exchange of Hong Kong Limited (Main Board Listing Rules) and the applicable requirements of the\nHong Kong Companies Ordinance (Chapter 622).\n(b) Basis of preparation\nThese consolidated financial statements comprise the financial statements of the Company and its\nsubsidiaries and the Group’s interests in joint ventures.\nThese consolidated financial statements have been prepared under the historical cos",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_company_type",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 240:\n\nHong Kong Exchanges\nand Clearing Limited\n8/F, Two Exchange Square,\n8 Connaught Place, Central, Hong Kong\nT (852) 2522 1122 F (852) 2295 3106\ninfo@hkex.com.hk\nhkexgroup.com | hkex.com.hk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_key_financials",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "22374m revenue and other income, EBITDA: 16281m, profit attributable to shareholders: 13050m",
      "golden_context": "Page 10-11:\n\nFinancial Highlights\nAnnual Results\nHKEX reported the Group’s best ever revenue and other income and profit in 2024.\nRevenue and Other Income Operating Expenses\n+9% +6%\n2024 revenue and other income was $22,374 million,\n9 per cent higher than 2023:\n•\n•\nOperating expenses were 6 per cent higher than\n2023, attributable to higher staff costs and IT costs,\npartly offset by lower professional fees incurred for,\nCore business revenue was up 9 per cent against\nand the partial recovery of legal fees relating to, the\n2023, attributable to increases in trading and\nevents in the nickel market in 2022.\nclearing fees from higher volumes across the\nCash, Derivatives and Commodities Markets, as\nwell as the LME fee increment. This was partly\noffset by lower net investment income from\nMargin Funds.\nNet investment income from Corporate Funds\nwas $1,748 million, up 18 per cent compared with\n2023, mainly due to lower losses on valuation of\nthe Group’s unlisted equity investments (2024:\n$62 million; 2023: $253 million).\nEBITDA1 Profit Attributable to Shareholders\n+10% +10%\nEBITDA\n1 of $16,281 million was 10 per cent higher\nProfit attributable to shareholders was $13,050\nthan 2023, with EBITDA margin\n1 at 74 per cent,\nmillion, 10 per cent higher than 2023.\n1 percentage point higher than 2023.\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2024\nKey Financials\n2024\n$m\n2023\n$m Change\nRevenue and other income\nCore business revenue 20,559 18,941 9%\nDonation income of HKEX Foundation 67 88 (24%)\nNet investment income of Corporate Funds 1,748 1,487 18%\n22,374 20,516 9%\nOperating expenses 5,761 5,441 6%\nEBITDA (non-HKFRS measure) 16,281 14,828 10%\nProfit attributable to shareholders 13,050 11,862 10%\nCapital expenditure 1,517 1,381 10%\nBasic earnings per share $10.32 $9.37 10%\nFirst interim dividend per share $4.36 $4.50 (3%)\nSecond interim dividend per share $4.90 $3.91 25%\n$9.26 $8.41 10%\n2024 2023 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 120.0 93.2 29%\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 11.8 0%\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 131.8 105.0 26%\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 150.1\n4 108.3 39%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 48.2\n4 31.1 55%\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 830\n4 742 12%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 720\n4 612 18%\n3 of metals contracts traded on the LME\n664 562 18%\nADT of Northbound Bond Connect (RMBbn) 41.6\n4 40.0 4%\nDividend payout ratio 90% 90% –\nKey Market Statistics\nChargeable ADV\n(’000 lots) 1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades).\n4 New record high in 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_revenue",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "22374m revenue and other income",
      "golden_context": "Page 10-11:\n\nFinancial Highlights\nAnnual Results\nHKEX reported the Group’s best ever revenue and other income and profit in 2024.\nRevenue and Other Income Operating Expenses\n+9% +6%\n2024 revenue and other income was $22,374 million,\n9 per cent higher than 2023:\n•\n•\nOperating expenses were 6 per cent higher than\n2023, attributable to higher staff costs and IT costs,\npartly offset by lower professional fees incurred for,\nCore business revenue was up 9 per cent against\nand the partial recovery of legal fees relating to, the\n2023, attributable to increases in trading and\nevents in the nickel market in 2022.\nclearing fees from higher volumes across the\nCash, Derivatives and Commodities Markets, as\nwell as the LME fee increment. This was partly\noffset by lower net investment income from\nMargin Funds.\nNet investment income from Corporate Funds\nwas $1,748 million, up 18 per cent compared with\n2023, mainly due to lower losses on valuation of\nthe Group’s unlisted equity investments (2024:\n$62 million; 2023: $253 million).\nEBITDA1 Profit Attributable to Shareholders\n+10% +10%\nEBITDA\n1 of $16,281 million was 10 per cent higher\nProfit attributable to shareholders was $13,050\nthan 2023, with EBITDA margin\n1 at 74 per cent,\nmillion, 10 per cent higher than 2023.\n1 percentage point higher than 2023.\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2024\nKey Financials\n2024\n$m\n2023\n$m Change\nRevenue and other income\nCore business revenue 20,559 18,941 9%\nDonation income of HKEX Foundation 67 88 (24%)\nNet investment income of Corporate Funds 1,748 1,487 18%\n22,374 20,516 9%\nOperating expenses 5,761 5,441 6%\nEBITDA (non-HKFRS measure) 16,281 14,828 10%\nProfit attributable to shareholders 13,050 11,862 10%\nCapital expenditure 1,517 1,381 10%\nBasic earnings per share $10.32 $9.37 10%\nFirst interim dividend per share $4.36 $4.50 (3%)\nSecond interim dividend per share $4.90 $3.91 25%\n$9.26 $8.41 10%\n2024 2023 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 120.0 93.2 29%\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 11.8 0%\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 131.8 105.0 26%\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 150.1\n4 108.3 39%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 48.2\n4 31.1 55%\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 830\n4 742 12%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 720\n4 612 18%\n3 of metals contracts traded on the LME\n664 562 18%\nADT of Northbound Bond Connect (RMBbn) 41.6\n4 40.0 4%\nDividend payout ratio 90% 90% –\nKey Market Statistics\nChargeable ADV\n(’000 lots) 1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades).\n4 New record high in 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_revenue_growth",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "9% revenue and other income growth",
      "golden_context": "Page 10-11:\n\nFinancial Highlights\nAnnual Results\nHKEX reported the Group’s best ever revenue and other income and profit in 2024.\nRevenue and Other Income Operating Expenses\n+9% +6%\n2024 revenue and other income was $22,374 million,\n9 per cent higher than 2023:\n•\n•\nOperating expenses were 6 per cent higher than\n2023, attributable to higher staff costs and IT costs,\npartly offset by lower professional fees incurred for,\nCore business revenue was up 9 per cent against\nand the partial recovery of legal fees relating to, the\n2023, attributable to increases in trading and\nevents in the nickel market in 2022.\nclearing fees from higher volumes across the\nCash, Derivatives and Commodities Markets, as\nwell as the LME fee increment. This was partly\noffset by lower net investment income from\nMargin Funds.\nNet investment income from Corporate Funds\nwas $1,748 million, up 18 per cent compared with\n2023, mainly due to lower losses on valuation of\nthe Group’s unlisted equity investments (2024:\n$62 million; 2023: $253 million).\nEBITDA1 Profit Attributable to Shareholders\n+10% +10%\nEBITDA\n1 of $16,281 million was 10 per cent higher\nProfit attributable to shareholders was $13,050\nthan 2023, with EBITDA margin\n1 at 74 per cent,\nmillion, 10 per cent higher than 2023.\n1 percentage point higher than 2023.\n1 For the purposes of this Annual Report, EBITDA is defined as earnings before interest expenses and other finance costs, taxation,\ndepreciation and amortisation. It excludes the Group’s share of results of the joint ventures. EBITDA margin is calculated based on\nEBITDA divided by revenue and other income less transaction-related expenses. EBITDA and EBITDA margin are non-HKFRS measures\nused by management for monitoring business performance and may not be comparable to similar measures presented by other\ncompanies.\n08 HKEX Annual Report 2024\nKey Financials\n2024\n$m\n2023\n$m Change\nRevenue and other income\nCore business revenue 20,559 18,941 9%\nDonation income of HKEX Foundation 67 88 (24%)\nNet investment income of Corporate Funds 1,748 1,487 18%\n22,374 20,516 9%\nOperating expenses 5,761 5,441 6%\nEBITDA (non-HKFRS measure) 16,281 14,828 10%\nProfit attributable to shareholders 13,050 11,862 10%\nCapital expenditure 1,517 1,381 10%\nBasic earnings per share $10.32 $9.37 10%\nFirst interim dividend per share $4.36 $4.50 (3%)\nSecond interim dividend per share $4.90 $3.91 25%\n$9.26 $8.41 10%\n2024 2023 Change\nADT of equity products traded on the Stock Exchange\n1 ($bn) 120.0 93.2 29%\nADT of DWs, CBBCs and warrants traded on the Stock Exchange ($bn) 11.8 11.8 0%\nADT traded on the Stock Exchange\n1,2 (Headline ADT) ($bn) 131.8 105.0 26%\nADT of Northbound Trading of Stock Connect\n1 (RMBbn) 150.1\n4 108.3 39%\nADT of Southbound Trading of Stock Connect\n1 ($bn) 48.2\n4 31.1 55%\nADV of derivatives contracts traded on the Futures Exchange\n(’000 contracts) 830\n4 742 12%\nADV of stock options contracts traded on the Stock Exchange\n(’000 contracts) 720\n4 612 18%\n3 of metals contracts traded on the LME\n664 562 18%\nADT of Northbound Bond Connect (RMBbn) 41.6\n4 40.0 4%\nDividend payout ratio 90% 90% –\nKey Market Statistics\nChargeable ADV\n(’000 lots) 1 Includes buy and sell trades under Stock Connect\n2 ADT of Southbound Trading is included within Headline ADT.\n3 Chargeable ADV excludes administrative trades (Admin Trades).\n4 New record high in 2024",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000476_segments",
      "report_id": "ID_000476",
      "company_name": "HKEX",
      "year": 2024,
      "country": "HK",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Cash, Equity and Financial Derivatives, Commodities, Data and Connectivity",
      "golden_context": "Page 151:\n\n4. Operating Segments\nAccounting Policy\nOperating segments are reported in a manner consistent with the internal management reports that\nare used to make strategic decisions provided to the chief operating decision-maker. The chief operating\ndecision-maker, who is responsible for allocating resources and assessing performance of the operating\nsegments, is the Chief Executive Officer of HKEX. Information relating to segment assets and liabilities is\nnot disclosed as such information is not regularly reported to the chief operating decision-maker.\nThe accounting policies of the reportable segments are the same as the Group’s accounting policies.\nTaxation charge/credit is not allocated to reportable segments.\nThe operations in each of the Group’s reportable segments are as follows:\nThe Cash segment covers all equity products traded on the Cash Market platforms of The Stock Exchange of Hong\nKong Limited (Stock Exchange) and those traded through Shanghai-Hong Kong Stock Connect and Shenzhen-\nHong Kong Stock Connect (Stock Connect); the clearing, settlement and custodian activities relating to these\nproducts and any other related activities. The major sources of revenue of the segment are trading fees, clearing\nand settlement fees, listing fees, depository, custody and nominee services fees and net investment income\nearned on the Margin Funds and Clearing House Funds relating to these products.\nThe Equity and Financial Derivatives segment refers to derivatives products traded on the Stock Exchange and\nHong Kong Futures Exchange Limited (Futures Exchange); the clearing, settlement and custodian activities\nrelating to these products and over-the-counter (OTC) derivatives contracts and other related activities. These\ninclude the provision and maintenance of trading and clearing platforms for a range of equity and financial\nderivatives products, such as stock and equity index futures and options, derivative warrants (DWs), callable bull/\nbear contracts (CBBCs) and warrants, and OTC derivatives contracts. The major sources of revenue are trading\nfees and trading tariffs, clearing and settlement fees, listing fees, depository, custody and nominee services fees\nand net investment income earned on the Margin Funds and Clearing House Funds relating to these products.\nThe Commodities segment refers to the operations of The London Metal Exchange (LME), which operates a global\nexchange in the UK, for the trading of base and ferrous metals futures and options contracts and the operations\nof its clearing house, LME Clear Limited (LME Clear). It also covers the operations of Qianhai Mercantile Exchange\nCo., Ltd. (QME), the commodity trading platform in Mainland China, and the commodities contracts traded on the\nFutures Exchange. The major sources of revenue of the segment are trading fees and clearing and settlement fees\nof commodity products, commodity market data fees, net investment income earned on the Margin Funds and\nClearing House Funds relating to these products, and fees for ancillary operations.\nThe Data and Connectivity segment covers sales of market data relating to the Hong Kong Cash and Derivatives\nMarkets, all services in connection with providing users with access to the platform and infrastructure of the Group\nand services provided by BayConnect Technology Company Limited (BayConnect). Its major sources of revenue\nare market data fees, network, terminal user, data line and software sub-license fees and hosting services fees.\n“Corporate Items” is not a business segment but comprises central income (including net investment income\nof Corporate Funds and donation income of HKEX Foundation Limited (HKEX Foundation)) and central costs\n(including costs of central support functions that provide services to all operating segments, HKEX Foundation\ncharitable donations and other costs not directly related to any operating segments).",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_cash_flow",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -3487213k, investing: 4584698k, financing: -2410015k",
      "golden_context": "Page 120-122:\n\nCONSOLIDATED CASH FLOW STATEMENT\nFor the year ended 31 December 2021\nNote 2021 HK$’000 2020\nHK$’000\n32(a) Cash flows from operating activities\nCash used in operations (3,274,964) Hong Kong profits tax paid (56,769) Mainland China tax and Macau complementary tax paid (74,154) Interest paid (81,326) (73,003)\n(7,418,491)\n(21,377)\n(118,467)\nNet cash used in operating activities (3,487,213) (7,631,338)\nCash flows from investing activities\nPurchase of property, plant and equipment 32(b) Purchase of intangible assets Proceeds from disposal of property, plant and equipment Return of capital from investments in joint ventures– Increase in advances to joint ventures and associated companies (Increase)/decrease in deferred receivable Decrease in finance lease receivable Purchase of financial assets Proceeds from redemption/disposal of financial assets Interest received (6,907,668) (23,093) 5,115 (10,545) (578) 21,254 (1,243,318) 10,889,043 862,670 Decrease in short-term bank deposits with maturity over three months,\nshort-term pledged deposits and long-term bank deposits Dividends received from joint ventures 614,866 376,952 Dividends received from listed and unlisted investments– (5,772,299)\n(24,719)\n1,342\n26,837\n(43,018)\n3,190\n300\n(1,161,267)\n7,453,627\n1,071,344\n7,485,876\n430,156\n30,725\nNet cash from investing activities 4,584,698 9,502,094\nCash flows from financing activities\nIssue of new shares Shares repurchased by the trustee New bank loans Repayment of bank loans 32(c) 32(c) Principal elements of lease payments 32(c) Decrease in loan from non-controlling interests Dividends paid to non-controlling interests Dividends paid to shareholders 566,788 223,556\n(19,030) (36,800)\n8,550,000 10,260,180\n(11,368,816) (1,621,596)\n(53,350) (52,455)\n(7,325)–\n(78,282) (53,546)\n13– (1,950,596)\nNet cash (used in)/from financing activities (2,410,015) 6,768,743\n8,639,499\n6,248,151\nNet (decrease)/increase in cash and cash equivalents (1,312,530) Cash and cash equivalents at beginning of year 14,907,498 Translation differences 11,775 19,848\nCash and cash equivalents at end of year 25 13,606,743 14,907,498\n119 GALAXY ENTERTAINMENT GROUP LIMITED\n•\nANNUAL REPORT 2021\nCONSOLIDATED STATEMENT OF CHANGES IN EQUITY\nFor the year ended 31 December 2021\nEquity\nShares held\nattributable\nNon-\nShare\ncapital\nfor share\nto owners of\ncontrolling\naward scheme Reserves\nthe Company\ninterests Total\nHK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000\nAt 1 January 2020 22,433,674 (6) 51,153,725 73,587,393 567,486 74,154,879\nComprehensive income\n(Loss)/profit for the year – – (3,973,078) (3,973,078) 59,835 (3,913,243)\nOther comprehensive (loss)/income\nChange in fair value of financial assets at fair value\nthrough other comprehensive income – – (912,670) (912,670) – (912,670)\nTranslation differences of subsidiaries – – 82,265 82,265 24,429 106,694\nShare of translation differences of joint ventures – – 105,900 105,900 15,197 121,097\nTotal other comprehensive (loss)/income, net of tax – – (724,505) (724,505) 39,626 (684,879)\nTotal comprehensive (loss)/income for the year – – (4,697,583) (4,697,583) 99,461 (4,598,122)\nTransactions with equity holders\nDividends paid to non-controlling interests – – – – (53,546) (53,546)\nShare award scheme – shares issued to the trustee 31 (31) – – – –\nShare award scheme – shares purchased by the trustee – (36,800) – (36,800) – (36,800)\nShares vested pursuant to share award scheme 83,171 36,817 (119,988) – – –\nIssue of shares upon exercise of share options 291,612 – (68,056) 223,556 – 223,556\nFair value of share awards granted – – 122,591 122,591 – 122,591\nFair value of share options granted – – 175,220 175,220 – 175,220\nSpecial dividends (note 13) – – (1,950,596) (1,950,596) – (1,950,596)\n22,808,488 (20) 44,615,313 67,423,781 613,401 68,037,182\nAt 31 December 2020 Comprehensive income\nProfit for the year– – 1,326,231 1,326,231 106,127 1,432,358\nOther comprehensive (loss)/income\nChange in fair value of financial assets at fair value\nthrough other comprehensive income– – (1,137,012) (1,137,012) – (1,137,012)\nTranslation differences of subsidiaries– – 24,645 24,645 6,148 30,793\nShare of translation differences of joint ventures– – 33,233 33,233 3,691 36,924\nTotal other comprehensive (loss)/income, net of tax– – (1,079,134) (1,079,134) 9,839 (1,069,295)\nAt 31 December 2021 Total comprehensive income for the year– – 247,097 247,097 115,966 363,063\nTransactions with equity holders\nReturn of capital to non-controlling interests– – – – (24) (24)\nDividends paid to non-controlling interests– – – – (78,282) (78,282)\nShare award scheme – shares purchased by the trustee – (19,030) – (19,030) – (19,030)\nShares vested pursuant to share award scheme 54,179 19,040 (73,219) – – –\nIssue of shares upon exercise of share options 735,400 – (168,612) 566,788 – 566,788\nFair value of share awards granted– – 80,451 80,451 – 80,451\nFair value of share options granted– – 125,592 125,592 – 125,592\n23,598,067 (10) 44,826,622 68,424,679 651,061 69,075,740\n120 GALAXY ENTERTAINMENT GROUP LIMITED\n•\nANNUAL REPORT 2021\nNOTES TO THE CONSOLIDATED\nFINANCIAL STATEMENTS\n1. GENERAL INFORMATION\nGalaxy Entertainment Group Limited (“GEG” or the “Company”) is a limited liability company incorporated in Hong\nKong and has its listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”). The address of its\nregistered office and principal place of business is 22nd Floor, Wing On Centre, 111 Connaught Road Central, Hong\nKong.\nThe principal activities of the Company and its subsidiaries (together the “Group”) are operation in casino games of\nchance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and\ndistribution of construction materials in Hong Kong, Macau and Mainland China.\nThese consolidated financial statements have been approved for issue by the Board of Directors on 23 February 2022.\n2. BASIS OF PREPARATION AND ACCOUNTING POLICIES\nThe consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting\nStandards (“HKFRS”) issued by the Hong Kong Institute of Certified Public Accountants under the historical cost\nconvention as modified by the revaluation of certain financial assets and financial liabilities, which are carried at fair\nvalues.\nThe preparation of consolidated financial statements in conformity with HKFRS requires the use of certain critical\naccounting estimates. It also requires management to exercise its judgment in the process of applying the accounting\npolicies of the Group. The areas involving a higher degree of judgment or complexity, or areas where assumptions and\nestimates are significant to the consolidated financial statements, are disclosed in note 5 below.\n(a) The adoption of amended standards\nIn 2021, the Group adopted the following amended standards which are relevant to its operations.\nHKAS 39, HKFRS 4, HKFRS 7, HKFRS 9, and HKFRS 16\n(Amendments)\nInterest Rate Benchmark Reform – Phase 2\nIn addition, the Group has early adopted the following amendment to the accounting standard for the accounting\nperiod commencing 1 January 2021:\nHKFRS 16 (Amendment) Covid-19-Related Rent Concessions beyond\n30 June 2021\nThe Group has assessed the impact of the adoption of these amended standards and considered that there was no\nsignificant impact on the Group’s results and financial position.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_company_type",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\n樂集團有限公司\nGalaxy Entertainment Group Limited\nStock Code: 27\n2021\nA N N U A L R E P O R T",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_key_financials",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Revenue of 19.7bn, Adj. EBITDA 3.5bn, net profit attributable to shareholders: 1.3bn",
      "golden_context": "Page 10:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$19.7 billion, increased 53% year-on-year\n•\nAdjusted EBITDA of HK$3.5 billion versus HK$(1.0) billion in 2020\n•\nNet profit attributable to shareholders (“NPAS”) of HK$1.3 billion versus\nHK$(4.0) billion in 2020 including HK$283 million of non-recurring and other\ncharges in 2021\n•\nAdjusted NPAS of HK$1.6 billion after adjusting for non-recurring and other\ncharges\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$253 million in 2021. In addition, the Group experienced\na one-off expense reversal benefit of HK$0.2 billion, Normalized Adjusted\nEBITDA was HK$3.1 billion versus HK$(1.1) billion in 2020\n•\nAs of 31 December 2021, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$33.4 billion and net cash (including bank\ndeposits and liquid investments) of HK$27.0 billion. Total debt was HK$6.4\nbillion primarily reflects ongoing treasury yield management initiatives where\ninterest income on cash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$13.3 billion, increased 71% year-on-year\n•\nAdjusted EBITDA of HK$2.9 billion versus HK$(0.9) billion in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$207 million in 2021. Normalized Adjusted EBITDA was\nHK$2.7 billion versus HK$(1.0) billion in 2020\n•\nHotel occupancy for 2021 across the five hotels was 47%\n•\nNon-gaming revenue of HK$2.4 billion, increased 77% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$3.3 billion, increased 47% year-on-year\n• Adjusted EBITDA of HK$374 million versus HK$(275) million in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$46 million in 2021. Normalized Adjusted EBITDA was\nHK$328 million versus HK$(283) million in 2020\n•\nHotel occupancy for 2021 was 65%\n• Non-gaming revenue of HK$162 million, increased 37% year-on-year\n•\nBROADWAY MACAU™\nNet Revenue of HK$57 million, decreased 39% year-on-year\n•\nAdjusted EBITDA of HK$(84) million versus HK$(162) million in 2020\n•\nThere was no luck impact on Adjusted EBITDA in 2021\n•\nHotel occupancy for 2021 was 6% due to the fact that the hotel’s\noperations were suspended for the majority of the year\n•\nNon-gaming revenue of HK$57 million, decreased 21% year-on-year\n09\nGALAXY ENTERTAINMENT GROUP LIMITED\n•\nANNUAL REPORT 2021\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nContinue to make ongoing progressive enhancements to our resorts to\nensure that they remain competitive and appealing to our guests\n•\nCotai Phases 3 & 4 – Phase 3 is effectively completed and our efforts are\nfirmly focused on the development of Phase 4. Phases 3 & 4 have a strong\nfocus on non-gaming, primarily targeting Meetings, Incentives, Conferences\nand Events (MICE), entertainment, family facilities and also include gaming\n•\nWill align the opening of Raffles at Galaxy Macau with prevailing market\nconditions, followed by the opening of Galaxy International Convention\nCenter and Andaz Macau, and proceeding with the construction of\nremaining phases\n•\nFuture development opportunities – Continue to pursue our Hengqin\nproject as well as expanding our focus into Mainland China with a particular\nemphasis on the Greater Bay Area\n•\nInternational – Continuously exploring opportunities in overseas markets",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_revenue",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Revenue of 19.7bn",
      "golden_context": "Page 10:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$19.7 billion, increased 53% year-on-year\n•\nAdjusted EBITDA of HK$3.5 billion versus HK$(1.0) billion in 2020\n•\nNet profit attributable to shareholders (“NPAS”) of HK$1.3 billion versus\nHK$(4.0) billion in 2020 including HK$283 million of non-recurring and other\ncharges in 2021\n•\nAdjusted NPAS of HK$1.6 billion after adjusting for non-recurring and other\ncharges\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$253 million in 2021. In addition, the Group experienced\na one-off expense reversal benefit of HK$0.2 billion, Normalized Adjusted\nEBITDA was HK$3.1 billion versus HK$(1.1) billion in 2020\n•\nAs of 31 December 2021, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$33.4 billion and net cash (including bank\ndeposits and liquid investments) of HK$27.0 billion. Total debt was HK$6.4\nbillion primarily reflects ongoing treasury yield management initiatives where\ninterest income on cash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$13.3 billion, increased 71% year-on-year\n•\nAdjusted EBITDA of HK$2.9 billion versus HK$(0.9) billion in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$207 million in 2021. Normalized Adjusted EBITDA was\nHK$2.7 billion versus HK$(1.0) billion in 2020\n•\nHotel occupancy for 2021 across the five hotels was 47%\n•\nNon-gaming revenue of HK$2.4 billion, increased 77% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$3.3 billion, increased 47% year-on-year\n• Adjusted EBITDA of HK$374 million versus HK$(275) million in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$46 million in 2021. Normalized Adjusted EBITDA was\nHK$328 million versus HK$(283) million in 2020\n•\nHotel occupancy for 2021 was 65%\n• Non-gaming revenue of HK$162 million, increased 37% year-on-year\n•\nBROADWAY MACAU™\nNet Revenue of HK$57 million, decreased 39% year-on-year\n•\nAdjusted EBITDA of HK$(84) million versus HK$(162) million in 2020\n•\nThere was no luck impact on Adjusted EBITDA in 2021\n•\nHotel occupancy for 2021 was 6% due to the fact that the hotel’s\noperations were suspended for the majority of the year\n•\nNon-gaming revenue of HK$57 million, decreased 21% year-on-year\n09\nGALAXY ENTERTAINMENT GROUP LIMITED\n•\nANNUAL REPORT 2021\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nContinue to make ongoing progressive enhancements to our resorts to\nensure that they remain competitive and appealing to our guests\n•\nCotai Phases 3 & 4 – Phase 3 is effectively completed and our efforts are\nfirmly focused on the development of Phase 4. Phases 3 & 4 have a strong\nfocus on non-gaming, primarily targeting Meetings, Incentives, Conferences\nand Events (MICE), entertainment, family facilities and also include gaming\n•\nWill align the opening of Raffles at Galaxy Macau with prevailing market\nconditions, followed by the opening of Galaxy International Convention\nCenter and Andaz Macau, and proceeding with the construction of\nremaining phases\n•\nFuture development opportunities – Continue to pursue our Hengqin\nproject as well as expanding our focus into Mainland China with a particular\nemphasis on the Greater Bay Area\n•\nInternational – Continuously exploring opportunities in overseas markets",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_revenue_growth",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "53% growth",
      "golden_context": "Page 10:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$19.7 billion, increased 53% year-on-year\n•\nAdjusted EBITDA of HK$3.5 billion versus HK$(1.0) billion in 2020\n•\nNet profit attributable to shareholders (“NPAS”) of HK$1.3 billion versus\nHK$(4.0) billion in 2020 including HK$283 million of non-recurring and other\ncharges in 2021\n•\nAdjusted NPAS of HK$1.6 billion after adjusting for non-recurring and other\ncharges\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$253 million in 2021. In addition, the Group experienced\na one-off expense reversal benefit of HK$0.2 billion, Normalized Adjusted\nEBITDA was HK$3.1 billion versus HK$(1.1) billion in 2020\n•\nAs of 31 December 2021, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$33.4 billion and net cash (including bank\ndeposits and liquid investments) of HK$27.0 billion. Total debt was HK$6.4\nbillion primarily reflects ongoing treasury yield management initiatives where\ninterest income on cash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$13.3 billion, increased 71% year-on-year\n•\nAdjusted EBITDA of HK$2.9 billion versus HK$(0.9) billion in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$207 million in 2021. Normalized Adjusted EBITDA was\nHK$2.7 billion versus HK$(1.0) billion in 2020\n•\nHotel occupancy for 2021 across the five hotels was 47%\n•\nNon-gaming revenue of HK$2.4 billion, increased 77% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$3.3 billion, increased 47% year-on-year\n• Adjusted EBITDA of HK$374 million versus HK$(275) million in 2020\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$46 million in 2021. Normalized Adjusted EBITDA was\nHK$328 million versus HK$(283) million in 2020\n•\nHotel occupancy for 2021 was 65%\n• Non-gaming revenue of HK$162 million, increased 37% year-on-year\n•\nBROADWAY MACAU™\nNet Revenue of HK$57 million, decreased 39% year-on-year\n•\nAdjusted EBITDA of HK$(84) million versus HK$(162) million in 2020\n•\nThere was no luck impact on Adjusted EBITDA in 2021\n•\nHotel occupancy for 2021 was 6% due to the fact that the hotel’s\noperations were suspended for the majority of the year\n•\nNon-gaming revenue of HK$57 million, decreased 21% year-on-year\n09\nGALAXY ENTERTAINMENT GROUP LIMITED\n•\nANNUAL REPORT 2021\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nContinue to make ongoing progressive enhancements to our resorts to\nensure that they remain competitive and appealing to our guests\n•\nCotai Phases 3 & 4 – Phase 3 is effectively completed and our efforts are\nfirmly focused on the development of Phase 4. Phases 3 & 4 have a strong\nfocus on non-gaming, primarily targeting Meetings, Incentives, Conferences\nand Events (MICE), entertainment, family facilities and also include gaming\n•\nWill align the opening of Raffles at Galaxy Macau with prevailing market\nconditions, followed by the opening of Galaxy International Convention\nCenter and Andaz Macau, and proceeding with the construction of\nremaining phases\n•\nFuture development opportunities – Continue to pursue our Hengqin\nproject as well as expanding our focus into Mainland China with a particular\nemphasis on the Greater Bay Area\n•\nInternational – Continuously exploring opportunities in overseas markets",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000477_segments",
      "report_id": "ID_000477",
      "company_name": "Galaxy Entertainment Group",
      "year": 2021,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "gaming and entertainment segment and the construction materials segment",
      "golden_context": "Page 147:\n\n7. SEGMENT INFORMATION\nThe Board of Directors is responsible for allocating resources, assessing performance of the operating segment and\nmaking strategic decisions, based on a measurement of adjusted earnings/(loss) before interest, tax, depreciation,\namortisation and certain items (the “Adjusted EBITDA”). This measurement basis of Adjusted EBITDA excludes the\neffects of non-recurring income and expenditure from the operating segments, such as pre-opening expenses,\ndonation and sponsorship, gain/loss on disposal and write-off of certain property, plant and equipment, and\nimpairment charge when the impairment is the result of an isolated, non-recurring event. The Adjusted EBITDA also\nexcludes taxation of joint ventures and associated companies, the effects of share option expenses and share award\nexpenses.\nIn accordance with the internal financial reporting and operating activities of the Group, the reportable segments are\nthe gaming and entertainment segment and the construction materials segment. Corporate and treasury management\nrepresents corporate level activities including central treasury management and administrative function. During the\nyear, the Group reclassified its certain cash and cash equivalents and other bank deposits under corporate and\ntreasury management segment to better reflect the nature of the transactions. The comparative figures in the respective\nsegments have been reclassified to conform with the presentation.\nThe reportable segments derive their revenue from the operations in casino games of chance or games of other forms,\nprovision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction\nmaterials in Hong Kong, Macau and Mainland China.\nThere are no sales or trading transaction between the operating segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_cash_flow",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -3091892k, investing: 3035413k, financing: -43381k",
      "golden_context": "Page 124:\n\nCONSOLIDATED CASH FLOW STATEMENT\nFor the year ended 31 December 2022\nNote 2022 HK$’000 2021\nHK$’000\n34(a) Cash flows from operating activities\nCash used in operations (2,882,847) Hong Kong profits tax paid (23,709) Mainland China tax and Macau complementary tax paid (72,825) Interest paid (112,511) (81,326)\n(3,274,964)\n(56,769)\n(74,154)\nNet cash used in operating activities (3,091,892) (3,487,213)\nCash flows from investing activities\nPurchase of property, plant and equipment 34(b) Purchase of intangible assets Proceeds from disposal of property, plant and equipment Decrease/(increase) in advances to joint ventures and associated\ncompanies Increase in deferred receivable Decrease in finance lease receivable Purchase of financial assets Proceeds from redemption/disposal of financial assets Interest received Decrease in short-term bank deposits with maturity over three months,\nshort-term pledged deposits and long-term bank deposits Dividends received from joint ventures Dividends received from listed and unlisted investments (5,062,701) (14,537) 61,980 13,190 (11,436) 31,328 (1,154,080) 3,235,977 1,102,445 (6,907,668)\n(23,093)\n5,115\n(10,545)\n(578)\n21,254\n(1,243,318)\n10,889,043\n862,670\n4,469,160 614,866\n354,511 376,952\n9,576–\nNet cash from investing activities 3,035,413 4,584,698\nCash flows from financing activities\nIssue of new shares Shares repurchased by the trustee New bank loans Repayment of bank loans 34(c) 34(c) Principal elements of lease payments 34(c) Decrease in loan from non-controlling interests Dividends paid to non-controlling interests Dividends paid to shareholders Net cash used in financing activities 256,228 566,788\n(16,862) (19,030)\n11,077,148 8,550,000\n(9,938,568) (11,368,816)\n(52,862) (53,350)\n(17,102) (7,325)\n(43,797) (78,282)\n14 (1,307,566)–\n(1,312,530)\n14,907,498\n(43,381) (2,410,015)\nNet decrease in cash and cash equivalents (99,860) Cash and cash equivalents at beginning of year 13,606,743 Translation differences (11,094) 11,775\nCash and cash equivalents at end of year 27 13,495,789 13,606,743\n123 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nCONSOLIDATED STATEMENT OF CHANGES IN EQUITY\nFor the year ended 31 December 2022\nEquity\nShares held\nattributable\nfor share\nto owners\nNon-\nShare\ncapital\naward\nof the\ncontrolling\nscheme Reserves\nCompany\ninterests Total\nHK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000\nAt 1 January 2021 22,808,488 (20) 44,615,313 67,423,781 613,401 68,037,182\nComprehensive income\nProfit for the year – – 1,326,231 1,326,231 106,127 1,432,358\nOther comprehensive (loss)/income\nChange in fair value of financial assets at fair value\nthrough other comprehensive income – – (1,137,012) (1,137,012) – (1,137,012)\nTranslation differences of subsidiaries – – 24,645 24,645 6,148 30,793\nShare of translation differences of joint ventures – – 33,233 33,233 3,691 36,924\nTotal other comprehensive (loss)/income, net of tax – – (1,079,134) (1,079,134) 9,839 (1,069,295)\nTotal comprehensive income for the year – – 247,097 247,097 115,966 363,063\nTransactions with equity holders\nReturn of capital to non-controlling interests – – – – (24) (24)\nDividends paid to non-controlling interests – – – – (78,282) (78,282)\nShare award scheme – shares purchased by the trustee – (19,030) – (19,030) – (19,030)\nShares vested pursuant to share award scheme 54,179 19,040 (73,219) – – –\nIssue of shares upon exercise of share options 735,400 – (168,612) 566,788 – 566,788\nFair value of share awards granted – – 80,451 80,451 – 80,451\nFair value of share options granted – – 125,592 125,592 – 125,592\n23,598,067 (10) 44,826,622 68,424,679 651,061 69,075,740\nAt 31 December 2021 Comprehensive income\nLoss for the year– – (3,433,770) (3,433,770) (14,407) (3,448,177)\nOther comprehensive income/(loss)\nChange in fair value of financial assets at fair value\nthrough other comprehensive income– – 30,082 30,082 – 30,082\nTranslation differences of subsidiaries– – (84,268) (84,268) (23,736) (108,004)\nShare of translation differences of joint ventures– – (135,777) (135,777) (17,731) (153,508)\nTotal other comprehensive loss, net of tax– – (189,963) (189,963) (41,467) (231,430)\nAt 31 December 2022 Total comprehensive loss for the year– – (3,623,733) (3,623,733) (55,874) (3,679,607)\nTransactions with equity holders\nInjection of capital to non-controlling interests– – – – 39 39\nDividends paid to non-controlling interests– – – – (43,797) (43,797)\nShare award scheme – shares issued to the trustee 12 (12) – – – –\nShare award scheme – shares purchased by the trustee– (16,862) – (16,862) – (16,862)\nShares vested pursuant to share award scheme 68,034 16,873 (84,907) – – –\nIssue of shares upon exercise of share options 302,051 – (45,823) 256,228 – 256,228\nFair value of share awards granted– – 87,780 87,780 – 87,780\nFair value of share options granted– – 93,410 93,410 – 93,410\nSpecial dividends (note 14)– – (1,307,566) (1,307,566) – (1,307,566)\n23,968,164 (11) 39,945,783 63,913,936 551,429 64,465,365",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_company_type",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 4:\n\nGALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nCORPORATE INFORMATION\nCHAIRMAN\nDr. Lui Che Woo, GBM, MBE, JP, LLD, DSSc, DBA\nDEPUTY CHAIRMAN\nMr. Francis Lui Yiu Tung\nEXECUTIVE DIRECTORS\nMr. Joseph Chee Ying Keung\nMrs. Paddy Tang Lui Wai Yu, BBS, JP\nNON-EXECUTIVE DIRECTORS\nDr. Charles Cheung Wai Bun, JP\nMr. Michael Victor Mecca\nINDEPENDENT NON-EXECUTIVE DIRECTORS\nMr. James Ross Ancell\nDr. William Yip Shue Lam, LLD\nProfessor Patrick Wong Lung Tak, BBS, JP\nEXECUTIVE BOARD\nDr. Lui Che Woo, GBM, MBE, JP, LLD, DSSc, DBA\nMr. Francis Lui Yiu Tung\nMr. Joseph Chee Ying Keung\nMrs. Paddy Tang Lui Wai Yu, BBS, JP\nAUDIT COMMITTEE\nMr. James Ross Ancell (Chairman)\nDr. William Yip Shue Lam, LLD\nProfessor Patrick Wong Lung Tak, BBS, JP\nDr. Charles Cheung Wai Bun, JP\nREMUNERATION COMMITTEE\nDr. William Yip Shue Lam, LLD (Chairman)\nMr. Francis Lui Yiu Tung\nProfessor Patrick Wong Lung Tak, BBS, JP\nNOMINATION COMMITTEE\nDr. William Yip Shue Lam, LLD (Chairman)\nMr. Francis Lui Yiu Tung\nProfessor Patrick Wong Lung Tak, BBS, JP\nCORPORATE GOVERNANCE COMMITTEE\nMr. Francis Lui Yiu Tung (Chairman)\nMr. James Ross Ancell\nProfessor Patrick Wong Lung Tak, BBS, JP\nDr. Charles Cheung Wai Bun, JP\nCOMPANY SECRETARY\nMrs. Jenifer Sin Li Mei Wah",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_key_financials",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenue of 11.5bn, Adjusted EBITDA -0.6bn, net profit attributable to shareholders: -3.4bn",
      "golden_context": "Page 9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$11.5 billion, decreased 42% year-on-year\n•\nAdjusted EBITDA of HK$(0.6) billion versus HK$3.5 billion in 2021\n•\nNet profit attributable to shareholders (“NPAS”) of HK$(3.4) billion versus\nHK$1.3 billion in 2021\n•\nAdjusted NPAS of HK$(2.3) billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$(0.5) billion versus HK$3.2 billion in 2021\n•\nAs of 31 December 2022, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$26.4 billion and net cash (include liquid\ninvestments) of HK$18.9 billion. Debt was HK$7.5 billion primarily reflects\nongoing treasury yield management initiatives where interest income on\ncash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$7.4 billion, decreased 44% year-on-year\n•\nAdjusted EBITDA of HK$0.3 billion, decreased 90% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$0.3 billion versus HK$2.7 billion in 2021\n•\nHotel occupancy for 2022 across the five hotels was 31%\n•\nNon-gaming revenue of HK$1.9 billion, decreased 24% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$1.0 billion, decreased 68% year-on-year\n•\nAdjusted EBITDA of HK$(0.5) billion versus HK$0.4 billion in 2021\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2022\n•\nHotel occupancy for 2022 was 38%\n•\nNon-gaming revenue of HK$103 million, decreased 36% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS AND CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$(62) million, versus HK$(84)\nmillion in 2021\n•\nCity Clubs: Adjusted EBITDA of HK$(21) million, versus HK$62 million in\n2021\n•\nConstruction Materials Division: Adjusted EBITDA of HK$566 million, down\n42% year-on-year\n08 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Scheduled to open GICC, Galaxy Arena and Raffles at\nGalaxy Macau in Q2 2023\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMeetings, Incentives, Conferences and Events (MICE), entertainment,\nfamily facilities and also includes gaming",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_revenue",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenue of 11.5bn",
      "golden_context": "Page 9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$11.5 billion, decreased 42% year-on-year\n•\nAdjusted EBITDA of HK$(0.6) billion versus HK$3.5 billion in 2021\n•\nNet profit attributable to shareholders (“NPAS”) of HK$(3.4) billion versus\nHK$1.3 billion in 2021\n•\nAdjusted NPAS of HK$(2.3) billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$(0.5) billion versus HK$3.2 billion in 2021\n•\nAs of 31 December 2022, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$26.4 billion and net cash (include liquid\ninvestments) of HK$18.9 billion. Debt was HK$7.5 billion primarily reflects\nongoing treasury yield management initiatives where interest income on\ncash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$7.4 billion, decreased 44% year-on-year\n•\nAdjusted EBITDA of HK$0.3 billion, decreased 90% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$0.3 billion versus HK$2.7 billion in 2021\n•\nHotel occupancy for 2022 across the five hotels was 31%\n•\nNon-gaming revenue of HK$1.9 billion, decreased 24% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$1.0 billion, decreased 68% year-on-year\n•\nAdjusted EBITDA of HK$(0.5) billion versus HK$0.4 billion in 2021\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2022\n•\nHotel occupancy for 2022 was 38%\n•\nNon-gaming revenue of HK$103 million, decreased 36% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS AND CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$(62) million, versus HK$(84)\nmillion in 2021\n•\nCity Clubs: Adjusted EBITDA of HK$(21) million, versus HK$62 million in\n2021\n•\nConstruction Materials Division: Adjusted EBITDA of HK$566 million, down\n42% year-on-year\n08 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Scheduled to open GICC, Galaxy Arena and Raffles at\nGalaxy Macau in Q2 2023\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMeetings, Incentives, Conferences and Events (MICE), entertainment,\nfamily facilities and also includes gaming",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_revenue_growth",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "42% growth",
      "golden_context": "Page 9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$11.5 billion, decreased 42% year-on-year\n•\nAdjusted EBITDA of HK$(0.6) billion versus HK$3.5 billion in 2021\n•\nNet profit attributable to shareholders (“NPAS”) of HK$(3.4) billion versus\nHK$1.3 billion in 2021\n•\nAdjusted NPAS of HK$(2.3) billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$(0.5) billion versus HK$3.2 billion in 2021\n•\nAs of 31 December 2022, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$26.4 billion and net cash (include liquid\ninvestments) of HK$18.9 billion. Debt was HK$7.5 billion primarily reflects\nongoing treasury yield management initiatives where interest income on\ncash holdings exceeds corresponding borrowing costs\nGALAXY MACAU™\n•\nNet Revenue of HK$7.4 billion, decreased 44% year-on-year\n•\nAdjusted EBITDA of HK$0.3 billion, decreased 90% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$33 million in 2022. Normalized Adjusted EBITDA\nwas HK$0.3 billion versus HK$2.7 billion in 2021\n•\nHotel occupancy for 2022 across the five hotels was 31%\n•\nNon-gaming revenue of HK$1.9 billion, decreased 24% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$1.0 billion, decreased 68% year-on-year\n•\nAdjusted EBITDA of HK$(0.5) billion versus HK$0.4 billion in 2021\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2022\n•\nHotel occupancy for 2022 was 38%\n•\nNon-gaming revenue of HK$103 million, decreased 36% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS AND CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$(62) million, versus HK$(84)\nmillion in 2021\n•\nCity Clubs: Adjusted EBITDA of HK$(21) million, versus HK$62 million in\n2021\n•\nConstruction Materials Division: Adjusted EBITDA of HK$566 million, down\n42% year-on-year\n08 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Scheduled to open GICC, Galaxy Arena and Raffles at\nGalaxy Macau in Q2 2023\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMeetings, Incentives, Conferences and Events (MICE), entertainment,\nfamily facilities and also includes gaming",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000478_segments",
      "report_id": "ID_000478",
      "company_name": "Galaxy Entertainment Group",
      "year": 2022,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "gaming and entertainment segment and the construction materials segment",
      "golden_context": "Page 151:\n\n8. SEGMENT INFORMATION\nThe Board of Directors is responsible for allocating resources, assessing performance of the operating segment\nand making strategic decisions, based on a measurement of adjusted (loss)/earnings before interest, tax,\ndepreciation, amortisation and certain items (the “Adjusted EBITDA”). This measurement basis of Adjusted EBITDA\nexcludes the effects of non-recurring income and expenditure from the operating segments, such as pre-opening\nexpenses, donation and sponsorship, foreign exchange gain or loss, fair value change on financial assets at fair\nvalue through profit or loss, gain or loss on disposal and write-off of certain property, plant and equipment and\nintangible assets, and impairment charge when the impairment is the result of an isolated, non-recurring event.\nThe Adjusted EBITDA also excludes taxation of joint ventures and associated companies, the effects of share\noption expenses and share award expenses.\nIn accordance with the internal financial reporting and operating activities of the Group, the reportable segments\nare the gaming and entertainment segment and the construction materials segment. Corporate and treasury\nmanagement represents corporate level activities including central treasury management and administrative function.\nThe reportable segments derive their revenue from the operations in casino games of chance or games of other\nforms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of\nconstruction materials in Hong Kong, Macau and Mainland China.\nThere are no sales or trading transaction between the operating segments.\n150 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2022\nNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS\n8. SEGMENT INFORMATION (Continued)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_cash_flow",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 11593841k, investing: -10674800k, financing: -7807565k",
      "golden_context": "Page 72:\n\nCONSOLIDATED CASH FLOW STATEMENT\nFor the year ended 31 December 2023\nNote 2023 HK$’000 2022\nHK$’000\nCash flows from operating activities\nCash generated from/(used in) operations 34(a) Hong Kong profits tax paid Mainland China tax and Macau complementary tax paid 11,663,166 (34,445) (34,880) (2,882,847)\n(23,709)\n(72,825)\nNet cash generated from/(used in) operating activities 11,593,841 (2,979,381)\nCash flows from investing activities\nPurchase of property, plant and equipment 34(b) Purchase of intangible assets Proceeds from disposal of property, plant and equipment Proceeds from disposal of subsidiaries Investment in joint ventures Decrease in advances to joint ventures and associated companies Increase in deferred receivable Increase in deposit paid for other non-current assets Decrease in finance lease receivable Purchase of financial assets Proceeds from redemption of financial assets Interest received (5,959,366) (5,062,701)\n(58,918) (14,537)\n273 61,980\n93,898 –\n(944,240)–\n12,231 13,190\n(12,658) (11,436)\n(26,064)–\n– 31,328\n(117,763) (1,154,080)\n2,336,381 3,235,977\n818,351 1,102,445\n(Increase)/decrease in short-term bank deposits with maturity over\nthree months, short-term pledged bank deposits (7,017,724) Dividends received from joint ventures 167,259 4,469,160\n354,511\nDividends received from listed investments 33,540 9,576\nNet cash (used in)/generated from investing activities (10,674,800) 3,035,413\nCash flows from financing activities\nIssue of new shares Sale of shares by the trustee Shares purchased by the trustee New bank loans 34(c) Repayment of bank loans 34(c) Interest paid 34(c) Principal and interest elements of lease payments 34(c) Principal and interest elements of Macau gaming concession payment 34(c) Decrease in loan from non-controlling interests– Dividends paid to non-controlling interests Return of capital to non-controlling interests 36,868 256,228\n16,519 –\n(25,828) (16,862)\n2,876,263 11,077,148\n(9,307,699) (9,938,568)\n(137,385) (109,008)\n(79,461) (56,365)\n(267,948)–\n(17,102)\n(44,789) (43,797)\n(322)–\nDividends paid to shareholders 14 (873,783) (1,307,566)\nNet decrease in cash and cash equivalents (6,888,524) Cash and cash equivalents at beginning of year 13,495,789 (99,860)\n13,606,743\nTranslation differences (8,091) (11,094)\nNet cash used in financing activities (7,807,565) (155,892)\nCash and cash equivalents at end of year 27 6,599,174 13,495,789\n71 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2023\nCONSOLIDATED STATEMENT OF CHANGES IN EQUITY\nFor the year ended 31 December 2023\nShares held\nEquity\nfor share\nattributable to\nNon-\nShare\ncapital\naward\nowners of the\ncontrolling\nscheme Reserves\nCompany\ninterests Total\nHK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000\nAt 1 January 2022 23,598,067 (10) 44,826,622 68,424,679 651,061 69,075,740\nComprehensive income\nLoss for the year – – (3,433,770) (3,433,770) (14,407) (3,448,177)\nOther comprehensive income/(loss)\nChange in fair value of financial assets at fair value\nthrough other comprehensive income – – 30,082 30,082 – 30,082\nTranslation differences of subsidiaries – – (84,268) (84,268) (23,736) (108,004)\nShare of translation differences of joint ventures – – (135,777) (135,777) (17,731) (153,508)\nTotal other comprehensive loss, net of tax – – (189,963) (189,963) (41,467) (231,430)\nTotal comprehensive loss for the year – – (3,623,733) (3,623,733) (55,874) (3,679,607)\nTransactions with equity holders\nInjection of capital to non-controlling interests – – – – 39 39\nDividends paid to non-controlling interests – – – – (43,797) (43,797)\nShare award scheme – shares issued to the trustee 12 (12) – – – –\nShare award scheme – shares purchased by the trustee – (16,862) – (16,862) – (16,862)\nShares vested pursuant to share award scheme 68,034 16,873 (84,907) – – –\nIssue of shares upon exercise of share options 302,051 – (45,823) 256,228 – 256,228\nFair value of share awards granted – – 87,780 87,780 – 87,780\nFair value of share options granted – – 93,410 93,410 – 93,410\nSpecial dividends (note 14) – – (1,307,566) (1,307,566) – (1,307,566)\n23,968,164 (11) 39,945,783 63,913,936 551,429 64,465,365\nAt 31 December 2022 Comprehensive income\nProfit for the year– – 6,827,956 6,827,956 46,020 6,873,976\nOther comprehensive income/(loss)\nChange in fair value of financial assets at fair value\nthrough other comprehensive income– – 538,319 538,319 – 538,319\nTranslation differences of subsidiaries – – (7,382) (7,382) (8,901) (16,283)\nShare of translation differences of joint ventures– – (11,129) (11,129) (1,683) (12,812)\nTotal other comprehensive income/(loss), net of tax– – 519,808 519,808 (10,584) 509,224\nAt 31 December 2023 Total comprehensive income for the year– – 7,347,764 7,347,764 35,436 7,383,200\nTransactions with equity holders\nReturn of capital to non-controlling interests– – – – (322) (322)\nDisposal of a subsidiary– – ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_company_type",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\n銀 河 娛 樂 集 團 有 限 公 司\nGalaxy Entertainment Group Limited\nStock Code: 27\n2023 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_key_financials",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Net revenue: 35.7bn, Adjusted EBITDA: 10bn, net profit attributable to shareholders 6.8bn",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$35.7 billion, up 211% year-on-year\n•\nAdjusted EBITDA of HK$10.0 billion versus HK$(0.6) billion in 2022\n•\nNet profit attributable to shareholders (“NPAS”) of HK$6.8 billion versus\nHK$(3.4) billion in 2022\n•\nAdjusted NPAS of HK$7.5 billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$10.1 billion versus HK$(520) million in 2022\n•\nAs of 31 December 2023, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$25.0 billion and net cash of HK$23.5\nbillion. Debt was HK$1.5 billion\n•\nPaid a special dividend of HK$0.20 per share on 27 October 2023 and\nannounced a special dividend of HK$0.30 per share payable on or about\n26 April 2024\nGALAXY MACAU™\n•\nNet Revenue of HK$27.7 billion, up 274% year-on-year\n•\nAdjusted EBITDA of HK$9.1 billion, versus HK$295 million in 2022\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$9.3 billion, up 2,739% year-on-year\n•\nHotel occupancy for 2023 across the seven hotels was 87%\n•\nNon-gaming revenue of HK$4.8 billion, up 159% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$4.6 billion, up 343% year-on-year\n•\nAdjusted EBITDA of HK$1.3 billion versus HK$(0.5) billion in 2022\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2023\n•\nHotel occupancy for 2023 was 99%\n•\nNon-gaming revenue of HK$490 million, up 376% year-on-year\nDIVISION\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\n•\nBroadway Macau™: Adjusted EBITDA of HK$(36) million, versus HK$(62)\nmillion in 2022\n•\nCity Clubs: Adjusted EBITDA of HK$15 million, versus HK$(21) million in\n2022\n•\nConstruction Materials Division: Adjusted EBITDA of HK$698 million, up\n23% year-on-year\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Opened GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMICE, entertainment, family facilities and also includes gaming\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2023\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2022 2023\nRevenues:\nNet Gaming 6,566 27,290\nNon-gaming 2,021 5,396\nConstruction Materials 2,887 2,998\nTotal Net Revenue 11,474 35,684\nAdjusted EBITDA (553) 9,955\nGaming Statistics1\n(HK$’m) 2022 2023\nRolling Chip Volume2 31,157 117,660\nWin Rate % 3.0% 2.9%\nWin 923 3,447\nMass Table Drop3 23,685 107,531\nWin Rate % 26.1% 24.6%\nWin 6,188 26,486\nElectronic Gaming Volume 11,679 50,884\nWin Rate % 3.5% 3.5%\nWin 405 1,780\nTotal GGR Win4 7,516 31,713\nKey Financial Metrics\n2022 2023\nNet (Loss)/Profit Attributable To Shareholders (HK$’m) (3,434) 6,828\n(Loss)/Earnings Per Share (HK cents) (78.7) 156.2\nTotal Assets (HK$’m) 80,961 87,215\nCash and Liquid Investments (HK$’m) 26,380 24,986\nDebt (HK$’m) 7,505 1,453\nShare Price on 31 December (HK$) 51.6 43.75\nMarket Capitalization (HK$’m) 225,436 191,344\n1 Gaming statistics are presented before deducting commission and incentives.\n2 Reflects sum of junket VIP and inhouse premium direct.\n3 Mass table drop includes the amount of table drop plus cash chips purchased at the cage.\n4 Total GGR win includes gaming win from City Clubs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_revenue",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Net revenue: 35.7bn",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$35.7 billion, up 211% year-on-year\n•\nAdjusted EBITDA of HK$10.0 billion versus HK$(0.6) billion in 2022\n•\nNet profit attributable to shareholders (“NPAS”) of HK$6.8 billion versus\nHK$(3.4) billion in 2022\n•\nAdjusted NPAS of HK$7.5 billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$10.1 billion versus HK$(520) million in 2022\n•\nAs of 31 December 2023, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$25.0 billion and net cash of HK$23.5\nbillion. Debt was HK$1.5 billion\n•\nPaid a special dividend of HK$0.20 per share on 27 October 2023 and\nannounced a special dividend of HK$0.30 per share payable on or about\n26 April 2024\nGALAXY MACAU™\n•\nNet Revenue of HK$27.7 billion, up 274% year-on-year\n•\nAdjusted EBITDA of HK$9.1 billion, versus HK$295 million in 2022\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$9.3 billion, up 2,739% year-on-year\n•\nHotel occupancy for 2023 across the seven hotels was 87%\n•\nNon-gaming revenue of HK$4.8 billion, up 159% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$4.6 billion, up 343% year-on-year\n•\nAdjusted EBITDA of HK$1.3 billion versus HK$(0.5) billion in 2022\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2023\n•\nHotel occupancy for 2023 was 99%\n•\nNon-gaming revenue of HK$490 million, up 376% year-on-year\nDIVISION\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\n•\nBroadway Macau™: Adjusted EBITDA of HK$(36) million, versus HK$(62)\nmillion in 2022\n•\nCity Clubs: Adjusted EBITDA of HK$15 million, versus HK$(21) million in\n2022\n•\nConstruction Materials Division: Adjusted EBITDA of HK$698 million, up\n23% year-on-year\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Opened GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMICE, entertainment, family facilities and also includes gaming\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2023\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2022 2023\nRevenues:\nNet Gaming 6,566 27,290\nNon-gaming 2,021 5,396\nConstruction Materials 2,887 2,998\nTotal Net Revenue 11,474 35,684\nAdjusted EBITDA (553) 9,955\nGaming Statistics1\n(HK$’m) 2022 2023\nRolling Chip Volume2 31,157 117,660\nWin Rate % 3.0% 2.9%\nWin 923 3,447\nMass Table Drop3 23,685 107,531\nWin Rate % 26.1% 24.6%\nWin 6,188 26,486\nElectronic Gaming Volume 11,679 50,884\nWin Rate % 3.5% 3.5%\nWin 405 1,780\nTotal GGR Win4 7,516 31,713\nKey Financial Metrics\n2022 2023\nNet (Loss)/Profit Attributable To Shareholders (HK$’m) (3,434) 6,828\n(Loss)/Earnings Per Share (HK cents) (78.7) 156.2\nTotal Assets (HK$’m) 80,961 87,215\nCash and Liquid Investments (HK$’m) 26,380 24,986\nDebt (HK$’m) 7,505 1,453\nShare Price on 31 December (HK$) 51.6 43.75\nMarket Capitalization (HK$’m) 225,436 191,344\n1 Gaming statistics are presented before deducting commission and incentives.\n2 Reflects sum of junket VIP and inhouse premium direct.\n3 Mass table drop includes the amount of table drop plus cash chips purchased at the cage.\n4 Total GGR win includes gaming win from City Clubs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_revenue_growth",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "211% growth",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nNet Revenue of HK$35.7 billion, up 211% year-on-year\n•\nAdjusted EBITDA of HK$10.0 billion versus HK$(0.6) billion in 2022\n•\nNet profit attributable to shareholders (“NPAS”) of HK$6.8 billion versus\nHK$(3.4) billion in 2022\n•\nAdjusted NPAS of HK$7.5 billion after adjusting for non-recurring and\nother charges\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$10.1 billion versus HK$(520) million in 2022\n•\nAs of 31 December 2023, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$25.0 billion and net cash of HK$23.5\nbillion. Debt was HK$1.5 billion\n•\nPaid a special dividend of HK$0.20 per share on 27 October 2023 and\nannounced a special dividend of HK$0.30 per share payable on or about\n26 April 2024\nGALAXY MACAU™\n•\nNet Revenue of HK$27.7 billion, up 274% year-on-year\n•\nAdjusted EBITDA of HK$9.1 billion, versus HK$295 million in 2022\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$162 million in 2023. Normalized Adjusted EBITDA\nwas HK$9.3 billion, up 2,739% year-on-year\n•\nHotel occupancy for 2023 across the seven hotels was 87%\n•\nNon-gaming revenue of HK$4.8 billion, up 159% year-on-year\nSTARWORLD MACAU\n•\nNet Revenue of HK$4.6 billion, up 343% year-on-year\n•\nAdjusted EBITDA of HK$1.3 billion versus HK$(0.5) billion in 2022\n•\nThere was no luck impact on StarWorld Macau Adjusted EBITDA in 2023\n•\nHotel occupancy for 2023 was 99%\n•\nNon-gaming revenue of HK$490 million, up 376% year-on-year\nDIVISION\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\n•\nBroadway Macau™: Adjusted EBITDA of HK$(36) million, versus HK$(62)\nmillion in 2022\n•\nCity Clubs: Adjusted EBITDA of HK$15 million, versus HK$(21) million in\n2022\n•\nConstruction Materials Division: Adjusted EBITDA of HK$698 million, up\n23% year-on-year\nDEVELOPMENT UPDATE\n•\nCotai Phase 3 – Opened GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4. Phase 4 has a strong focus on non-gaming, primarily targeting\nMICE, entertainment, family facilities and also includes gaming\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2023\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2022 2023\nRevenues:\nNet Gaming 6,566 27,290\nNon-gaming 2,021 5,396\nConstruction Materials 2,887 2,998\nTotal Net Revenue 11,474 35,684\nAdjusted EBITDA (553) 9,955\nGaming Statistics1\n(HK$’m) 2022 2023\nRolling Chip Volume2 31,157 117,660\nWin Rate % 3.0% 2.9%\nWin 923 3,447\nMass Table Drop3 23,685 107,531\nWin Rate % 26.1% 24.6%\nWin 6,188 26,486\nElectronic Gaming Volume 11,679 50,884\nWin Rate % 3.5% 3.5%\nWin 405 1,780\nTotal GGR Win4 7,516 31,713\nKey Financial Metrics\n2022 2023\nNet (Loss)/Profit Attributable To Shareholders (HK$’m) (3,434) 6,828\n(Loss)/Earnings Per Share (HK cents) (78.7) 156.2\nTotal Assets (HK$’m) 80,961 87,215\nCash and Liquid Investments (HK$’m) 26,380 24,986\nDebt (HK$’m) 7,505 1,453\nShare Price on 31 December (HK$) 51.6 43.75\nMarket Capitalization (HK$’m) 225,436 191,344\n1 Gaming statistics are presented before deducting commission and incentives.\n2 Reflects sum of junket VIP and inhouse premium direct.\n3 Mass table drop includes the amount of table drop plus cash chips purchased at the cage.\n4 Total GGR win includes gaming win from City Clubs.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000479_segments",
      "report_id": "ID_000479",
      "company_name": "Galaxy Entertainment Group",
      "year": 2023,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "gaming and entertainment segment and the construction materials segment",
      "golden_context": "Page 102:\n\n8. SEGMENT INFORMATION\nThe Board of Directors is responsible for allocating resources, assessing performance of the operating segment\nand making strategic decisions, based on a measurement of adjusted earnings/(loss) before interest, tax,\ndepreciation, amortisation and certain items (the “Adjusted EBITDA”). This measurement basis of Adjusted EBITDA\nexcludes the effects of non-recurring income and expenditure from the operating segments, such as pre-opening\nexpenses, donation and sponsorship, foreign exchange gain or loss, fair value change on financial assets at fair\nvalue through profit or loss, gain or loss on disposal and write-off of property, plant and equipment, intangible\nassets and subsidiaries, and impairment charge when the impairment is the result of an isolated, non-recurring\nevent. The Adjusted EBITDA also excludes taxation of joint ventures and associated companies, the effects of\nshare option expenses and share award expenses.\nIn accordance with the internal financial reporting and operating activities of the Group, the reportable segments\nare the gaming and entertainment segment and the construction materials segment. Corporate and treasury\nmanagement represents corporate level activities including central treasury management and administrative function.\nThe reportable segments derive their revenue from the operations in casino games of chance or games of other\nforms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of\nconstruction materials in Hong Kong, Macau and Mainland China.\nThere are no sales or trading transaction between the operating segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_cash_flow",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 11550263k, investing: -4746999k, financing: -1976113k",
      "golden_context": "Page 76:\n\nCONSOLIDATED CASH FLOW STATEMENT\nFor the year ended 31 December 2024\nNote 2024 HK$’000 2023\nHK$’000\nCash flows from operating activities\nCash generated from operations Hong Kong profits tax paid Mainland China tax and Macau complementary tax paid 33(a) 11,713,501 (63,468) (99,770) 11,663,166\n(34,445)\n(34,880)\nNet cash generated from operating activities 11,550,263 11,593,841\nCash flows from investing activities\nPurchase of property, plant and equipment 33(b) Purchase of intangible assets Proceeds from disposal of property, plant and equipment Proceeds from disposal of subsidiaries– Proceeds from disposal of a joint venture Investment in an associated company Investment in a joint venture Decrease in advances to joint ventures and associated companies– Increase in deferred receivables Increase in deposit paid for other non-current assets Purchase of financial assets Proceeds from redemption of financial assets Interest received (4,828,078) (5,959,366)\n(40,120) (58,918)\n5,825 273\n93,898\n32,647–\n(5,191)–\n(33) (944,240)\n12,231\n(32,084) (12,658)\n(13,065) (26,064)\n(4,190,103) (117,763)\n3,534,664 2,336,381\n978,213 818,351\nIncrease in short-term bank deposits with maturity over\nthree months, short-term pledged bank deposits (305,528) Dividends received from joint ventures 59,127 (7,017,724)\n167,259\nDividends received from listed investments 56,727 33,540\nNet cash used in investing activities (4,746,999) (10,674,800)\nCash flows from financing activities\nIssue of new shares– 36,868\nSale of shares by the trustee– 16,519\nShares purchased by the trustee (18,142) (25,828)\nIncrease in loan from a joint venture 6,479–\nIncrease in loan from a non-controlling interest 4,380–\nNew bank loans 33(c) 2,507,288 2,876,263\nRepayment of bank loans 33(c) (515,731) (9,307,699)\nInterest paid 33(c) (47,232) (137,385)\nPrincipal and interest elements of lease payments 33(c) (91,384) (79,461)\nPrincipal and interest elements of Macau gaming concession payment 33(c) (268,880) (267,948)\nDividends paid to non-controlling interests (56,673) (44,789)\nReturn of capital to non-controlling interests– (322)\nDividends paid to shareholders 14 (3,496,218) (873,783)\nNet cash used in financing activities (1,976,113) (7,807,565)\nNet increase/(decrease) in cash and other cash equivalents 4,827,151 Cash and other cash equivalents at beginning of year 6,599,174 (6,888,524)\n13,495,789\nTranslation differences (8,611) (8,091)\nCash and other cash equivalents at end of year 26 11,417,714 6,599,174\n75 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nCONSOLIDATED STATEMENT OF CHANGES IN EQUITY\nFor the year ended 31 December 2024\nShares held\nEquity\nfor share\nattributable to\nNon-\nShare\ncapital\naward\nowners of the\ncontrolling\nscheme Reserves\nCompany\ninterests Total\nHK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000\nAt 1 January 2023 23,968,164 (11) 39,945,783 63,913,936 551,429 64,465,365\nComprehensive income\nProfit for the year – – 6,827,956 6,827,956 46,020 6,873,976\nOther comprehensive income/(loss)\nChange in fair value of financial assets at fair value\nthrough other comprehensive income – – 538,319 538,319 – 538,319\nTranslation differences of subsidiaries – – (7,382) (7,382) (8,901) (16,283)\nShare of translation differences of joint ventures – – (11,129) (11,129) (1,683) (12,812)\nTotal other comprehensive income/(loss), net of tax – – 519,808 519,808 (10,584) 509,224\nTotal comprehensive income for the year – – 7,347,764 7,347,764 35,436 7,383,200\nTransactions with equity holders\nReturn of capital to non-controlling interests – – – – (322) (322)\nDisposal of subsidiaries – – – – 8,582 8,582\nDividends paid to non-controlling interests – – – – (44,789) (44,789)\nAcquisition of non-controlling interest – – 92,417 92,417 (92,417) –\nShare award scheme – shares issued to the trustee 39 (39) – – – –\nShare award scheme – shares purchased by the trustee – (25,828) – (25,828) – (25,828)\nShare award scheme – sale of shares by the trustee 16,516 3 – 16,519 – 16,519\nShares vested pursuant to share award scheme 71,144 25,842 (96,986) – – –\nIssue of shares upon exercise of share options 47,895 – (11,027) 36,868 – 36,868\nFair value of share awards granted – – 138,012 138,012 – 138,012\nFair value of share options granted – – 113,267 113,267 – 113,267\nSpecial dividends (note 14) – – (873,783) (873,783) – (873,783)\n24,103,758 (33) 46,655,447 70,759,172 457,919 71,217,091\nAt 31 December 2023 Comprehensive income\nProfit for the year– – 8,759,247 8,759,247 55,157 8,814,404\nOther comprehensive loss\nChange in fair value of financial assets at fair value\nthrough other comprehensive income– – (221,320) (221,320) – (221,320)\nTranslation differences of subsidiaries– – (62,288) (62,288) (7,111) (69,399)\nShare of translation differences of joint ventures and an\nassociated company– – (36,180) (36,180) (3,632) (39,812)\nTotal other comprehensive loss, net of tax– – (319,788) (319,788) (10,743) (330,531)\nAt 31 December 2024 Total comprehensive income for the year– – 8,439,459 8,439,459 44,414 8,483,873\nTransactions with equity holders\nDividends paid to non-controlling interests– – – – (56,673) (56,673)\nTransactions with non-controlling interests– – – – 180 180\nShare award scheme – shares issued to the trustee 13 (13) – – – –\nShare award scheme – shares purchased by the trustee– (18,142) – (18,142) – (18,142)\nShares vested pursuant to share award scheme 149,962 18,164 (168,126) – – –\nFair value of share awards granted– – 133,491 133,491 – 133,491\nFair value of share options granted– – 127,882 127,882 – 127,882\nSpecial and interim dividends (note 14)– – (3,496,218) (3,496,218) – (3,496,218)\n24,253,733 (24) 51,691,935 75,945,644 445,840 76,391,484\n76 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nNOTES TO THE CONSOLIDATED\nFINANCIAL STATEMENTS\n1. GENERAL INFORMATION\nGalaxy Entertainment Group Limited (“GEG” or the “Company”) is a limited liability company incorporated in\nHong Kong and has its listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”). The\naddress of its registered office and principal place of business is 22nd Floor, Wing On Centre, 111 Connaught\nRoad Central, Hong Kong.\nThe principal activities of the Company and its subsidiaries (together the “Group”) are operation in casino games\nof chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture,\nsale and distribution of construction materials in Hong Kong, Macau and Mainland China.\nThese consolidated financial statements have been approved for issue by the Board of Directors on 27 February\n2025.\n2. MACAU GAMING CONCESSION\nGaming in Macau is administered by the Government of the Macau Special Administrative Region (the “Macau\nGovernment”) through concession awarded, of which the Company’s principal subsidiary, Galaxy Casino, S.A.\n(“GCSA”) is one of Concessionaires.\nOn 16 December 2022, the Macau Government and GCSA entered into a new gaming concession contract\n(the “Gaming Concession Contract”) for a term of 10 years, from 1 January 2023 to 31 December 2032. On\n30 December 2022, separate contracts for the reversion of casinos and related assets for gaming business to\nthe Macau Government (the “Reversion of Property Contract”) were signed by the Group. The casino areas of\nGalaxy Macau, StarWorld and Broadway held by subsidiaries of GEG, together with the revertible gaming assets\nheld by GCSA are to be reverted to the Macau Government without compensation and the Macau Government\ntemporarily handed over to the Group for its continuing use in gaming operations during the 10-year term of the\nGaming Concession Contract. As the control and the economic benefits of these casino areas and gaming assets\nwill be continuously retained by the Group and with the assumption of the subsequent successful retention and\ntendering of the gaming concession, GCSA will continue to recognise these casino areas and gaming assets as\nright-of-use assets and property, plant and equipment and depreciate their carrying amounts over their estimated\nremaining useful lives.\nOn 1 January 2023, GCSA recognised an intangible asset and corresponding financial liability included in “Macau\ngaming concession payable” and “Creditors and accruals”, representing the right to conduct games of chance\nin Macau and the unconditional obligation to make payments under the Gaming Concession Contract and the\nReversion of Property Contract. As at 31 December 2024, the net book value of intangible asset recorded as\nHK$2.17 billion while non-current and current portion of the financial liability recorded as HK$2.24 billion and\nHK$0.27 billion respectively.\nGCSA committed to invest MOP33.75 billion (approximately HK$32.76 billion), which includes MOP32.85 billion\n(approximately HK$31.89 billion) in non-gaming facilities and activities and MOP0.90 billion (approximately\nHK$0.87 billion) on gaming, primarily investing in the tourism and entertainment sectors that will be spent, over\nthe span of the Gaming Concession Contract, to support the Macau Government’s objectives to further develop\nand diversify Macau’s economy and attract more overseas visitors. The abovementioned committed investment\nincludes MOP5.40 billion (approximately HK$5.24 billion) further commitment triggered by the investment increasing\nmechanism of the investment plan.\n77 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS\n3. BASIS OF PREPARATION AND ACCOUNTING POLICIES\nThe consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting\nStandards (“HKFRS”) issued by the Hong Kong Institute of Certified Public Accountants under the historical cost\nconvention as modified by the revaluation of certain financial assets and financial liabilities, which are carried at\nfair values.\n(a) The preparation of consolidated financial statements in conformity with HKFRS requires the use of certain critical\naccounting estimates. It also requires management to exercise its judgment in the process of applying the\naccounting policies of the Group. The areas involving a higher degree of judgment or complexity, or areas where\nassumptions and estimates are significant to the consolidated financial statements, are disclosed in note 6 below.\nThe adoption of amended standards and interpretation\nIn 2024, the Group adopted the following amended standards and interpretation which are relevant to its operations.\nHKAS 1 (Amendments) HKAS 1 (Amendments) HKAS 7 and HKFRS 7 (Amendments) HKFRS 16 (Amendments) HK-Int 5 (2020) Classification of Liabilities as Current or Non-current\nNon-current Liabilities with Covenants\nSupplier Finance Arrangements\nLease Liability in a Sale and Leaseback\nPresentation of Financial Statements – Classification by the Borrower\nof a Term Loan that Contains a Repayment on Demand Clause\n(b) The Group has assessed the impact of the adoption of these amended standards and interpretation and considered\nthat there was no significant impact on the Group’s results and financial position.\nNew standards and amendments to existing standards and interpretation that are not yet effective\nNew standards and amendments\nEffective for\naccounting periods\nbeginning on or after\nHKAS 7, HKFRS 1, HKFRS 7, HKFRS 9\nand HKFRS 10\nHKAS 21 and HKFRS 1 (Amendments) HKFRS 9 and HKFRS 7 (Amendments) HKFRS 10 and HKAS 28 (Amendments) HKFRS 18 HKFRS 19 HK-Int 5 (Amendments) Annual Improvements to HKFRS Accounting\nStandards – Volume 11\nLack of Exchangeability Classification and Measurement of Financial\nInstruments\nSale or Contribution of Assets between an\nInvestor and its Associate or Joint Venture\nPresentation and Disclosure in Financial\nStatements\nSubsidiaries without Public Accountability:\nDisclosures\nPresentation of Financial Statements –\nClassification by the Borrower of a Term\nLoan that Contains a Repayment on\nDemand Clause\n1 January 2026\n1 January 2025\n1 January 2026\nTo be determined\n1 January 2027\n1 January 2027\n1 January 2027\n78 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS\n3. (b) BASIS OF PREPARATION AND ACCOUNTING POLICIES (",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_company_type",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 4:\n\nGALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nRECOGNITION OF THE LATE\nDR. LUI CHE WOO’S\nLEADERSHIP AND VISION\nChairman\nGEG “GLOBALLY\nDr. Lui Che Woo\nGBM, MBE, JP, LLD, DSSc, DBA\nRECOGNIZED AS ASIA’S\nLEADING GAMING\nAND ENTERTAINMENT\nCORPORATION”\n1929-2024\nFebruary 2002\nGalaxy Casino, S.A. is chosen over\n18 American, European and Asian\ncorporations to receive a gaming\nconcession from the Macau SAR\nGovernment.\nJuly 2005\nGEG becomes the first gaming operator\nto be listed on the Hong Kong Stock\nExchange.\nOctober 2006\nGEG opens its first flagship entertainment\ncomplex, StarWorld Hotel.\nMay 2011\nGalaxy MacauTM Phase 1 holds its grand\nopening, positioned to be Macau’s first\nAsian Centric integrated resort and offers\n2,200 rooms, suites and villas, and a\nGrand Resort Deck with the world’s\nlargest skytop wave pool.\nJune 2013\nGEG becomes a constituent of the Hang\nSeng Index.\nJuly 2014\nDr. Lui Che Woo announces a HK$1.3\nbillion endowment for the establishment\nof the Galaxy Entertainment Group\nFoundation.\nMay 2015\nGalaxy MacauTM Phase 2 and the\nrebranded Broadway MacauTM hold their\ngrand opening, doubling GEG’s footprint\nof the resort in Cotai to 1.1 million square\nmeters, bringing its total hotel room\ncapacity to approximately 4,000 rooms\nand suites, with an expanded Grand\nResort Deck featuring the world’s longest\nskytop aquatic adventure ride at 575\nmeters, the Galaxy Promenade which\nfeatures over 200 luxury and lifestyle retail\nbrands and over 120 food & beverage\noutlets.\nJuly 2015\nGEG announces a strategic minority\ninvestment in Societe Anonyme des Bains\nde Mer et du Cercle des Etrangers a\nMonaco (“Monte-Carlo SBM”) and in 2017\nformally established a strategic partnership\nwith Monte-Carlo SBM.\nJuly 2020\nAs of July 2020, GEG’s contributions\nto support various pandemic prevention\nand control efforts in Mainland China and\nMacau, including donations and other\nforms of support, have amounted to\nMOP200 million.\nDecember 2022\nGalaxy Casino, S.A. is awarded a new\nconcession for operation of casinos by the\nMacau SAR Government, effective from\nJanuary 1, 2023 to December ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_key_financials",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Group net revenue of 43.4bn, adjusted EBITDA of 12.2bn, net profit: 8.8bn",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nGroup Net Revenue of HK$43.4 billion, up 22% year-on-year\n•\nGroup Adjusted EBITDA of HK$12.2 billion, up 22% year-on-year\n•\nGroup Net Profit Attributable to Shareholders (“NPAS”) of HK$8.8 billion,\nup 28% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$157 million in 2024. Normalized Adjusted EBITDA\nwas HK$12.3 billion, up 22% year-on-year\n•\nAs of 31 December 2024, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$31.3 billion and the net position was\nHK$27.1 billion after debt of HK$4.2 billion\n•\nGEG paid two dividends totaled HK$0.80 per share in 2024 and the Board\nrecommends a final dividend of HK$0.50 per share payable in June 2025\nGALAXY MACAU™\n•\nNet Revenue of HK$34.5 billion, up 24% year-on-year\n•\nAdjusted EBITDA of HK$10.8 billion, up 18% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$212 million in 2024. Normalized Adjusted EBITDA\nwas HK$11.0 billion, up 18% year-on-year\n•\nHotel occupancy for 2024 across the seven hotels was 98%\n•\nNon-gaming revenue of HK$5.7 billion, up 18% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$5.3 billion, up 15% year-on-year\n•\nAdjusted EBITDA of HK$1.6 billion, up 24% year-on-year\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$55 million in 2024. Normalized Adjusted EBITDA was\nHK$1.5 billion, up 20% year-on-year\n•\nHotel occupancy for 2024 was 100%\n•\nNon-gaming revenue of HK$536 million, up 9% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$24 million, versus HK$(36)\nmillion in 2023\n•\nCity Clubs: Adjusted EBITDA of HK$14 million, down 7% year-on-year\n•\nConstruction Materials Division: Adjusted EBITDA of HK$857 million, up\n23% year-on-year\n•\nDEVELOPMENT UPDATE\nCapella at Galaxy Macau is targeted to open in mid-2025\n•\nCotai Phase 3 – Ramping up GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4 which has a strong focus on non-gaming, primarily targeting\nentertainment, family facilities and also includes gaming\n•\nInternational – Continuously exploring opportunities in overseas markets\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2023 2024\nRevenues:\nNet Gaming 27,290 33,826\nNon-gaming 5,396 6,425\nConstruction Materials 2,998 3,181\nTotal Net Revenue 35,684 43,432\nAdjusted EBITDA 9,955 12,188\nGaming Statistics1\n(HK$’m) 2023 2024\nRolling Chip Volume2 117,660 180,879\nWin Rate % 2.9% 2.9%\nWin 3,447 5,329\nMass Table Drop3 107,531 127,823\nWin Rate % 24.6% 25.9%\nWin 26,486 33,112\nElectronic Gaming Volume 50,884 95,380\nWin Rate % 3.5% 2.8%\nWin 1,780 2,704\nTotal GGR Win4 31,713 41,145\nKey Financial Metrics\n2023 2024\nNet Profit Attributable To Shareholders (HK$’m) 6,828 8,759\nEarnings Per Share (HK cents) 156.2 200.3\nTotal Assets (HK$’m) 87,215 94,578\nCash and Liquid Investments (HK$’m) 24,986 31,333\nDebt (HK$’m) 1,453 4,179\nShare Price on 31 December (HK$) 43.75 33.00\nMarket Capitalization (HK$’m) 191,344 144,372",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_revenue",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Group net revenue of 43.4bn",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nGroup Net Revenue of HK$43.4 billion, up 22% year-on-year\n•\nGroup Adjusted EBITDA of HK$12.2 billion, up 22% year-on-year\n•\nGroup Net Profit Attributable to Shareholders (“NPAS”) of HK$8.8 billion,\nup 28% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$157 million in 2024. Normalized Adjusted EBITDA\nwas HK$12.3 billion, up 22% year-on-year\n•\nAs of 31 December 2024, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$31.3 billion and the net position was\nHK$27.1 billion after debt of HK$4.2 billion\n•\nGEG paid two dividends totaled HK$0.80 per share in 2024 and the Board\nrecommends a final dividend of HK$0.50 per share payable in June 2025\nGALAXY MACAU™\n•\nNet Revenue of HK$34.5 billion, up 24% year-on-year\n•\nAdjusted EBITDA of HK$10.8 billion, up 18% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$212 million in 2024. Normalized Adjusted EBITDA\nwas HK$11.0 billion, up 18% year-on-year\n•\nHotel occupancy for 2024 across the seven hotels was 98%\n•\nNon-gaming revenue of HK$5.7 billion, up 18% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$5.3 billion, up 15% year-on-year\n•\nAdjusted EBITDA of HK$1.6 billion, up 24% year-on-year\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$55 million in 2024. Normalized Adjusted EBITDA was\nHK$1.5 billion, up 20% year-on-year\n•\nHotel occupancy for 2024 was 100%\n•\nNon-gaming revenue of HK$536 million, up 9% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$24 million, versus HK$(36)\nmillion in 2023\n•\nCity Clubs: Adjusted EBITDA of HK$14 million, down 7% year-on-year\n•\nConstruction Materials Division: Adjusted EBITDA of HK$857 million, up\n23% year-on-year\n•\nDEVELOPMENT UPDATE\nCapella at Galaxy Macau is targeted to open in mid-2025\n•\nCotai Phase 3 – Ramping up GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4 which has a strong focus on non-gaming, primarily targeting\nentertainment, family facilities and also includes gaming\n•\nInternational – Continuously exploring opportunities in overseas markets\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2023 2024\nRevenues:\nNet Gaming 27,290 33,826\nNon-gaming 5,396 6,425\nConstruction Materials 2,998 3,181\nTotal Net Revenue 35,684 43,432\nAdjusted EBITDA 9,955 12,188\nGaming Statistics1\n(HK$’m) 2023 2024\nRolling Chip Volume2 117,660 180,879\nWin Rate % 2.9% 2.9%\nWin 3,447 5,329\nMass Table Drop3 107,531 127,823\nWin Rate % 24.6% 25.9%\nWin 26,486 33,112\nElectronic Gaming Volume 50,884 95,380\nWin Rate % 3.5% 2.8%\nWin 1,780 2,704\nTotal GGR Win4 31,713 41,145\nKey Financial Metrics\n2023 2024\nNet Profit Attributable To Shareholders (HK$’m) 6,828 8,759\nEarnings Per Share (HK cents) 156.2 200.3\nTotal Assets (HK$’m) 87,215 94,578\nCash and Liquid Investments (HK$’m) 24,986 31,333\nDebt (HK$’m) 1,453 4,179\nShare Price on 31 December (HK$) 43.75 33.00\nMarket Capitalization (HK$’m) 191,344 144,372",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_revenue_growth",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "22% growth",
      "golden_context": "Page 8-9:\n\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\n•\nGroup Net Revenue of HK$43.4 billion, up 22% year-on-year\n•\nGroup Adjusted EBITDA of HK$12.2 billion, up 22% year-on-year\n•\nGroup Net Profit Attributable to Shareholders (“NPAS”) of HK$8.8 billion,\nup 28% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$157 million in 2024. Normalized Adjusted EBITDA\nwas HK$12.3 billion, up 22% year-on-year\n•\nAs of 31 December 2024, balance sheet remains liquid and healthy with\ncash and liquid investments of HK$31.3 billion and the net position was\nHK$27.1 billion after debt of HK$4.2 billion\n•\nGEG paid two dividends totaled HK$0.80 per share in 2024 and the Board\nrecommends a final dividend of HK$0.50 per share payable in June 2025\nGALAXY MACAU™\n•\nNet Revenue of HK$34.5 billion, up 24% year-on-year\n•\nAdjusted EBITDA of HK$10.8 billion, up 18% year-on-year\n•\nPlayed unlucky in gaming operations which decreased Adjusted EBITDA\nby approximately HK$212 million in 2024. Normalized Adjusted EBITDA\nwas HK$11.0 billion, up 18% year-on-year\n•\nHotel occupancy for 2024 across the seven hotels was 98%\n•\nNon-gaming revenue of HK$5.7 billion, up 18% year-on-year\n•\nSTARWORLD MACAU\nNet Revenue of HK$5.3 billion, up 15% year-on-year\n•\nAdjusted EBITDA of HK$1.6 billion, up 24% year-on-year\n•\nPlayed lucky in gaming operations which increased Adjusted EBITDA by\napproximately HK$55 million in 2024. Normalized Adjusted EBITDA was\nHK$1.5 billion, up 20% year-on-year\n•\nHotel occupancy for 2024 was 100%\n•\nNon-gaming revenue of HK$536 million, up 9% year-on-year\n•\nBROADWAY MACAU™, CITY CLUBS and CONSTRUCTION MATERIALS\nDIVISION\nBroadway Macau™: Adjusted EBITDA of HK$24 million, versus HK$(36)\nmillion in 2023\n•\nCity Clubs: Adjusted EBITDA of HK$14 million, down 7% year-on-year\n•\nConstruction Materials Division: Adjusted EBITDA of HK$857 million, up\n23% year-on-year\n•\nDEVELOPMENT UPDATE\nCapella at Galaxy Macau is targeted to open in mid-2025\n•\nCotai Phase 3 – Ramping up GICC, Galaxy Arena, Raffles at Galaxy Macau\nand Andaz Macau\n•\nCotai Phase 4 – Our efforts are firmly focused on the development of\nPhase 4 which has a strong focus on non-gaming, primarily targeting\nentertainment, family facilities and also includes gaming\n•\nInternational – Continuously exploring opportunities in overseas markets\n07 GALAXY ENTERTAINMENT GROUP LIMITED • ANNUAL REPORT 2024\nFINANCIAL & OPERATIONAL HIGHLIGHTS\nGROUP\nKey Financial Data\n(HK$’m) 2023 2024\nRevenues:\nNet Gaming 27,290 33,826\nNon-gaming 5,396 6,425\nConstruction Materials 2,998 3,181\nTotal Net Revenue 35,684 43,432\nAdjusted EBITDA 9,955 12,188\nGaming Statistics1\n(HK$’m) 2023 2024\nRolling Chip Volume2 117,660 180,879\nWin Rate % 2.9% 2.9%\nWin 3,447 5,329\nMass Table Drop3 107,531 127,823\nWin Rate % 24.6% 25.9%\nWin 26,486 33,112\nElectronic Gaming Volume 50,884 95,380\nWin Rate % 3.5% 2.8%\nWin 1,780 2,704\nTotal GGR Win4 31,713 41,145\nKey Financial Metrics\n2023 2024\nNet Profit Attributable To Shareholders (HK$’m) 6,828 8,759\nEarnings Per Share (HK cents) 156.2 200.3\nTotal Assets (HK$’m) 87,215 94,578\nCash and Liquid Investments (HK$’m) 24,986 31,333\nDebt (HK$’m) 1,453 4,179\nShare Price on 31 December (HK$) 43.75 33.00\nMarket Capitalization (HK$’m) 191,344 144,372",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000480_segments",
      "report_id": "ID_000480",
      "company_name": "Galaxy Entertainment Group",
      "year": 2024,
      "country": "HK",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "gaming and entertainment segment and the construction materials segment",
      "golden_context": "Page 104:\n\n8. SEGMENT INFORMATION\nThe Board of Directors is responsible for allocating resources, assessing performance of the operating segment\nand making strategic decisions, based on a measurement of adjusted earnings/(loss) before interest, tax,\ndepreciation, amortisation and certain items (the “Adjusted EBITDA”). This measurement basis of Adjusted EBITDA\nexcludes the effects of non-recurring income and expenditure from the operating segments, such as pre-opening\nexpenses, foreign exchange gain or loss, fair value change on financial assets at fair value through profit or loss,\nand others which mainly include donation and sponsorship, gain or loss on disposal and write-off of property,\nplant and equipment, intangible assets and subsidiaries, impairment charge when the impairment is the result of\nan isolated, non-recurring event, and other expenses which are non-recurring in nature. The Adjusted EBITDA\nalso excludes taxation of joint ventures and associated companies, the effects of share option expenses and\nshare award expenses.\nIn accordance with the internal financial reporting and operating activities of the Group, the reportable segments\nare the gaming and entertainment segment and the construction materials segment. Corporate and treasury\nmanagement represents corporate level activities including central treasury management and administrative function.\nThe reportable segments derive their revenue from the operations in casino games of chance or games of other\nforms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of\nconstruction materials in Hong Kong, Macau and Mainland China.\nThere are no sales or trading transaction between the operating segments.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_cash_flow",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "No cash flow mentioend, but the cash balances are mentioned: Cash and cash equivalents current: 4,003,106,659,402, prior year cash: 7,443,016,968,348 ",
      "golden_context": "Page 32:\n\nonsolidated S t a t e m e n t\no f Financial P o s i t i o n\nAs of December 31, 2021\nAs of December 31, 2020\nAs of December 31, 2019\nKorea Exchange and Its Subsidiaries (Unit: KRW)\nA c c o u n t s 2021 2020 2019\nI. Current Assets 10,475,921, 184,333 11,035,345,011,068 7,084,685,099,020\n1. Cash and cash equivalents 4,003,106,659,402 7,443,016,968,348 4,307,372,463,816\n2. Current financial assets 6,371,100,261,583 3,503,786,812,454 2,695,919,747,590\n3. Accounts and other receivables 78,256,033,584 70,001,385,245 69,483,307,942\n4. Inventories 672,055,844 669,324,695 640,285,865\n5. Current and non-financial assets 22,786,173,920 17,870,520,326 11,269,293,807\nI. Non-current Assets 1,977,589,497,985 1,895,103,424,504 2,119,292,884,973\n1. Non-current financial assets 1,025,815,749,585 853,500,802,082 1,264,858,603,421\n2. Non-current accounts and other receivables 63,540,603,936 60,964,483,080 55,226,283,760\n3. Property, plants and equipment 679,349,256,931 654,682,789,817 499,845,404,544\n4. Investment properties 46,729,196,342 45,590,980,854 161,438,260,876\n5. Intangible assets other than goodwill 77,372,533,457 71,342,664,325 79,313,841,434\n6. Investment in associates and joint ventures 78,297,770,583 208,841,311,895 58,272,039,273\n7. Non-current and non-financial assets 224,492,326 180,392,451 338,451,665\n8. Deferred tax assets 6,259,894,825\nTotal Assets 12,453,510,682,318 12,930,448,435,572 9,203,977,983,993\nI. Current Liabilities 3,638,042,162,166 3,976,286,861,077 2,460,528,589,719\n1. Accounts and other payables 97,224,715,087 119,801,083,886 107,750,294,783\n2. Current financial liabilities 2,284,433,759 983,006,896\n3. Current tax liabilities 142,972,551,898 68,549,987,199 14,283,876,617\n4. Current provisions 2,741,034,249\n5. Current and non-financial liabilities 3,392,819,427,173 3,787,935,789,992 2,337,511,411,423\nI . Non-current Liabilities 5,206,025.683,737 5,688,576,536,878 3,714,165,057,220\n1. Non-current accounts and other payables 8,254,780,867 10,328,886,615 10,343,849,939\n2. Non-current financial liabilities 4,734,246,998,030 5,219,068,430,086 3,306,420,599,536\n3. Employee benefits liabilities 46,988,417,938 39,613,065,735 34,959,737,023\n4. Deferred tax liabilities 99,024,353,659 105,579,094,133 91,574,173,179\n5. Non-current provisions 242,361,295,490 242,361,295,490 200,000,000,000\n6. Non-current and non-financial liabilities 75,149,837,753 71,625,764,819 70,866,697,543\nTo t a l Liabilities 8,844,067,845,903 9,664,863,397,955 6,174,693,646,939\nI. Equity attributable to owners of parent company 3,167,643,013,037 2,854,145,407,844 2,646,587,345,234\n1. Contributed capital 299,618,474,884 299,618,474,884 299,618,474,884\n2. Retained eamings 2,759,793,116,255 2,472,212,895,558 2,269,683,518,132\n3. Other equity elements 108,231,421,898 82,314,037,402 77,285,352,218\nI. Non-controlling interests 441,799,823,378 411,439,629,773 382,696,991,820\nTotal Equity\n3,609,442,836,415 3,029,284,337,054\n3,265,585,037,617\n3 0 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nConsolidated S t a t e m e n t\no f I n c o m e\nFor the year ended December 31, 2021\nFor the year ended December 31, 2020\nKorea Exchange and Its Subsidiaries Accounts 2021\n2020\n(Unit: KRW)\nI . Operating Revenue 1,349,336,811,124 978,354,913,900\n1. Revenue of market fees 657,751,802,714 423,728,636,802\n2. Revenue of securities deposit fees 367,918,546,910 269,242,312,976\n3. Revenue of market information & IT 308,834,567,761 266,964,214,390\n4. Revenue of rent and others 14,831,893,739 18,419,749,732\nII. Operating Expenses 763,956,387,218 671,889,834,887\n1. Salaries 285,207,004,816 275,940,857,157\n2. Retirement benefits expense 59,776,663,175 34,156,382,898\n3. Employ benefits expense 21,245,093,263 18,906,665,444\n4. Depreciation 44,708,976,620 37,051,725,032\n5. Amortization of intangible assets 17,566,082,023 17,216,488,930\n6. Depreciation of investment properties 786,983,836 1,275,986,504\n7. Bad debt expense 180,320,708\n8. Commission 102,937,903,387 244,989,194\n86,149,973,434\n9. Advertising expense 4,998,586,058 4,620,292,249\n10. Training expense 9,767,219,362 8,574,529,007\n1. Rent expense 2,901,146,244 1,994,811,367\n12. Taxes and dues 34,786,961,547 30,795,306,809\n13 Utility 8,189,251,823 8,235,299,235\n14. Ordinary research and development expense 16,581,820\n15. System operating expense 138,800,487,075 117,354,310,759\n16. Others 32,103,707,281 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_company_type",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly given.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_key_financials",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "742.9bn in operating revenue, profits 279bn",
      "golden_context": "Page 11:\n\nIn 2021, as the trading value of the Korean capital market increased significantly\ncompared to the previous year due to continued massive liquidity supply caused by th\n:OVID-19 crisis and the impact of a surge in IPOs, the KRX posted KRW 742.8 billion i\noperating revenue, up KRW 245.9 billion (49.5 percent) from the previous year. Its operat\ning expenses increased by KRW 40.1 billion (13.4 percent) to KRW 339.1 billior\nyear-on-year, while its profit increased by KRW 101.3 billion (57 percent) from a year earlier 1\nRW 279 billion on a higher operating revenue\nPerformance\nb y Sector\nO KOSPI Market\nThe Korea Composite Stock Price Index (KOSPI) ended its final trading session in 2021 at\n2,997 points, up 3.6 percent from the previous year, the market capitalization of KOSPI\nincreased 421.2 percent from the previous year to a record high of KRW 17.2 trillion.\nThe KRX overhauled the market-making system in order to enhance investor receptive-\nness, and devised measures for improvement including the non-application of volatility\ninterruptions on newly listed stocks. Furthermore, on May 3, 2021, the KRX partially\nresumed the short-selling of KOSPI 200 and KOSDAQ 150 stocks that had been banned for\n14 months (from March 16, 2020 to April 30, 2021) in response to sharp falls in stock\nprices amid the spread of COVID-19, reinforced the systems related to covered short-sell-\ning and simulated trading and improved individual investors' access to short-selling.\nThrough these efforts, the KRX laid the foundation for improving market participants'\nnegative perception of short-selling and the market-making system, and contributed to\nthe rapid identification of reasonable prices for newly listed stocks. In addition, the KRX\nreviewed and prepared for the improvement of trading systems in connection with the\nestablishment of a next-generation trading system so as to create advanced trading\ninfrastructure, and strived to formulate measures to build an algorithmic trading manage-\ntransaction costs.\nthe KRX expanded the personnel pool of the System Improvement Council with the\nadoption of the open hearing system and enhanced the system to collect market partici",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_revenue",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "742.9bn in operating revenue",
      "golden_context": "Page 11:\n\nIn 2021, as the trading value of the Korean capital market increased significantly\ncompared to the previous year due to continued massive liquidity supply caused by th\n:OVID-19 crisis and the impact of a surge in IPOs, the KRX posted KRW 742.8 billion i\noperating revenue, up KRW 245.9 billion (49.5 percent) from the previous year. Its operat\ning expenses increased by KRW 40.1 billion (13.4 percent) to KRW 339.1 billior\nyear-on-year, while its profit increased by KRW 101.3 billion (57 percent) from a year earlier 1\nRW 279 billion on a higher operating revenue\nPerformance\nb y Sector\nO KOSPI Market\nThe Korea Composite Stock Price Index (KOSPI) ended its final trading session in 2021 at\n2,997 points, up 3.6 percent from the previous year, the market capitalization of KOSPI\nincreased 421.2 percent from the previous year to a record high of KRW 17.2 trillion.\nThe KRX overhauled the market-making system in order to enhance investor receptive-\nness, and devised measures for improvement including the non-application of volatility\ninterruptions on newly listed stocks. Furthermore, on May 3, 2021, the KRX partially\nresumed the short-selling of KOSPI 200 and KOSDAQ 150 stocks that had been banned for\n14 months (from March 16, 2020 to April 30, 2021) in response to sharp falls in stock\nprices amid the spread of COVID-19, reinforced the systems related to covered short-sell-\ning and simulated trading and improved individual investors' access to short-selling.\nThrough these efforts, the KRX laid the foundation for improving market participants'\nnegative perception of short-selling and the market-making system, and contributed to\nthe rapid identification of reasonable prices for newly listed stocks. In addition, the KRX\nreviewed and prepared for the improvement of trading systems in connection with the\nestablishment of a next-generation trading system so as to create advanced trading\ninfrastructure, and strived to formulate measures to build an algorithmic trading manage-\ntransaction costs.\nthe KRX expanded the personnel pool of the System Improvement Council with the\nadoption of the open hearing system and enhanced the system to collect market partici",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_revenue_growth",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Growth of 49.5%",
      "golden_context": "Page 11:\n\nIn 2021, as the trading value of the Korean capital market increased significantly\ncompared to the previous year due to continued massive liquidity supply caused by th\n:OVID-19 crisis and the impact of a surge in IPOs, the KRX posted KRW 742.8 billion i\noperating revenue, up KRW 245.9 billion (49.5 percent) from the previous year. Its operat\ning expenses increased by KRW 40.1 billion (13.4 percent) to KRW 339.1 billior\nyear-on-year, while its profit increased by KRW 101.3 billion (57 percent) from a year earlier 1\nRW 279 billion on a higher operating revenue\nPerformance\nb y Sector\nO KOSPI Market\nThe Korea Composite Stock Price Index (KOSPI) ended its final trading session in 2021 at\n2,997 points, up 3.6 percent from the previous year, the market capitalization of KOSPI\nincreased 421.2 percent from the previous year to a record high of KRW 17.2 trillion.\nThe KRX overhauled the market-making system in order to enhance investor receptive-\nness, and devised measures for improvement including the non-application of volatility\ninterruptions on newly listed stocks. Furthermore, on May 3, 2021, the KRX partially\nresumed the short-selling of KOSPI 200 and KOSDAQ 150 stocks that had been banned for\n14 months (from March 16, 2020 to April 30, 2021) in response to sharp falls in stock\nprices amid the spread of COVID-19, reinforced the systems related to covered short-sell-\ning and simulated trading and improved individual investors' access to short-selling.\nThrough these efforts, the KRX laid the foundation for improving market participants'\nnegative perception of short-selling and the market-making system, and contributed to\nthe rapid identification of reasonable prices for newly listed stocks. In addition, the KRX\nreviewed and prepared for the improvement of trading systems in connection with the\nestablishment of a next-generation trading system so as to create advanced trading\ninfrastructure, and strived to formulate measures to build an algorithmic trading manage-\ntransaction costs.\nthe KRX expanded the personnel pool of the System Improvement Council with the\nadoption of the open hearing system and enhanced the system to collect market partici",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000481_segments",
      "report_id": "ID_000481",
      "company_name": "Korea Exchange",
      "year": 2021,
      "country": "KR",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "KOSPI Market, KOSDAQ Market, Derivatives Market, Clearing and Settlement, Commodity Market, Market Oversight, International Business, Sustainable Management, Information Business and IT",
      "golden_context": "Page 10-17:\n\npenses increased by KRW 40.1 billion (13.4 percent) to KRW 339.1 billior\nyear-on-year, while its profit increased by KRW 101.3 billion (57 percent) from a year earlier 1\nRW 279 billion on a higher operating revenue\nPerformance\nb y Sector\nO KOSPI Market\nThe Korea Composite Stock Price Index (KOSPI) ended its final trading session in 2021 at\n2,997 points, up 3.6 percent from the previous year, the market capitalization of KOSPI\nincreased 421.2 percent from the previous year to a record high of KRW 17.2 trillion.\nThe KRX overhauled the market-making system in order to enhance investor receptive-\nness, and devised measures for improvement including the non-application of volatility\ninterruptions on newly listed stocks. Furthermore, on May 3, 2021, the KRX partially\nresumed the short-selling of KOSPI 200 and KOSDAQ 150 stocks that had been banned for\n14 months (from March 16, 2020 to April 30, 2021) in response to sharp falls in stock\nprices amid the spread of COVID-19, reinforced the systems related to covered short-sell-\ning and simulated trading and improved individual investors' access to short-selling.\nThrough these efforts, the KRX laid the foundation for improving market participants'\nnegative perception of short-selling and the market-making system, and contributed to\nthe rapid identification of reasonable prices for newly listed stocks. In addition, the KRX\nreviewed and prepared for the improvement of trading systems in connection with the\nestablishment of a next-generation trading system so as to create advanced trading\ninfrastructure, and strived to formulate measures to build an algorithmic trading manage-\ntransaction costs.\nthe KRX expanded the personnel pool of the System Improvement Council with the\nadoption of the open hearing system and enhanced the system to collect market partici\n0 8 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nPerformance\nby Sector\nscreening of growth companies. Moreover, it revamped the listing process to shorten the\nperiod from public offering to listing for the formation of stable prices for newly listec\nompanies and provided practical guidelines on listing eligibility reviews to ensure thei\nconsistency as a means to provide support for the normalization of companies and protect\nIn terms of the management and disclosure of listed companies, the KRX encouraged the\nfaithful fulfillment of corporate disclosure obligations by rationalizing the deliberation of\nsanctions on bad faith disclosures, increasing incentives for corporations with excellent\ndisclosure, and providing non-face-to-face education and investor relations (IR) support for\nlisted corporations. In order to promote English disclosure and streamline the disclosure\ninformation management system, the KRX expanded English disclosure support services\nby expanding translation support services for English disclosures by listed companies,\nevaluating and selecting professional translators, and improving standards for selecting\ncorporations with excellent English disclosure, while creating a road map for establishing a\nnext-generation listing and disclosure system. Furthermore, the KRX designed a model to\nidentify companies that require intensive management through case analyses in order to\nboost the monitoring of companies at risk of insolvency, developed a system to predict and\nmonitor listed corporations at risk of insolvency, and mapped out a system to improve and\ninspect its working procedures to facilitate the intensive inspection of the fulfillment\nstatus of timely disclosure obligations and stable market measures pertaining to trading\nsuspensions and guides.\nThe KRX is working out measures to increase autonomy in the operation of active ETFs in\nconcert with relevant industries and the financial authorities in an effort to promote public\noffering funds in the securitized product market, and is expected to overhaul relevant\nsystems in order to launch new income-oriented ETFs in the first half of 2022. Moreover,\nto reflect various market needs, it developed new ETPs including new industrial themed\nproducts (digital, Green New Deal, ESG and self-indexing products), asset allocation\nproducts (target date funds, all weather funds and multi-asset ENs), alternative invest\nment-type products and those focused on smal number of overseas stocks. In terms of\nmarket promotion and investor education, the KRX held the Global ETP Conference, an\nannual event that had been suspended after the outbreak of COVID-19, as part of its\nonline and offline marketing and education activities, produced YouTube advertisements\nto replenish the demand for overseas direct investment and promote pension ETF invest\nnents, and delivered key information and matters to be noted concerning ETF invest\nand managed by product, the KRX mapped out a plan to establish an integrated informa\ntion platform for DLSs and a system for classifying exchange-traded and OTC DLSs, as wel\n한 국 거 래 소\nKOREA EXCHANGE 0 9\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\npercent), thereby leading to the qualitative improvement of the markets.\nIn terms of the bond market, the KRX improved its systems and infrastructure in order to\ninvigorate the government bond market, and laid the foundation for the steady growth of\nthe bond market by promoting green bonds. First of all, it pushed for the improvement of\nthe primary dealer evaluation system in the inter-dealer market for government bonds, the\nexpansion of the government bond lineup, and the improvement of the market access\nmethods, while also preparing a plan to reshuffle the bond market-making system.\nThrough these efforts, the KRX gained a foothold to generate long-term growth momen-\ntum for the domestic government bond market in response to the growing influence of the\ngovernment bond market in the wake of the government's active fiscal policy. Meanwhile,\nthe KRX participated in a public-private partnership project to revitalize green bonds, and\nmade efforts to protect investors by expanding the provision of information on SRI bonds\nand presenting measures to improve the SRI bond market management system. In\naddition, the KRX formulated measures to improve the listing and disclosure systems for\ndomestic and foreign bonds in line with changes in the internal and external environments.\nAs part of these efforts, the KRX laid the groundwork for the sustainable development of\nthe bond market by expanding product diversity through the introduction of short-term\n(two-year) government bonds, establishing a phased roadmap for the introduction of a\ndedicated network for the government bond market (I/F) and the improvement of the\nmarket-making system, and implementing a rational improvement of the quotation unit. In\naddition, the KRX recorded KRW 159.6 trillion in terms of outstanding amount of SRI bonds\nlisted in 2021, up 94 percent from KRW 82.1 trillion in 2020 by inducing the timely submis-\nsion of SRI bond financing reports, improving the follow-up management system, and\nexpanding the one-stop information service for dedicated segments.\nsessions.\n1 0 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nSecuritized Major Indicators of the KOSPI Market in 2021 的 的 的 所 能 例 的 叫 助 叫 的 腳 眼 好 好 跳 你 ⽐ 倒 a w\n良 鳶 菖 壑 感 营 卣\nPerformance\nby Sector\nIndicators 2020 2 0 2 1 Change(%)\nKOSPI (points) 2,873.47 2,977.65 +3.6\nKOSPI 200 (points) 389.29 +1.3\nAverage daily trading volume (milion shares) 895.0\nTurnover of listed stocks frequency) 40\nEquity market 122\nYeaty amount (KRWilin) 3,025\nNew Number of corporations 14\nlistings Amuntof IPOs (KRWtilion) 3\nMarket capitalization (KRW trillion) 1,981\nETF\nAverage daily trading value (KRW 100 milin) 38,433 423.5\nNumber of isues 468\n+13.9\nMarket capitalization (KRitilion) 521 +42.0\nAverage daily trading value (KRW 100 milion) 930 A52.4\nproduct ETN Numberof sees 190 +42.1\nmarket Market capitalization (KRWitilion) 76 +158\nELW\nAverage daily trading value (KRW 100 milion) 1,532 +62\nNumber of issues 3,350 +13.2\nMarket capitalization (KRWtilion) 48.9 476.9\nAverage daily trading value (KRW trillion) 86 4314\nBond market\nAmount listed (KRW trillion) 2047 +8,9\nNew listings of SRI bonds (KRW trillion) 58.9 +47.4\n@ KOSDAQ Market\nThe KOSDAQ market closed 2021 at 1,033.98 points, up 65.56 points (6.8 percent) from\nthe end of the previous year but having lost some of its gains due to the spread of the\nOmicron variant of COVID-19 and confirmation of tapering by the U.S. Federal Reserve,\nafter hitting a record high of 1,060.00 points for the year in August thanks to all-time high\nrecords in the U.S. stock markets and expectations for the expanded distribution of\nCOVID-19 vaccines. The market capitalization rose 15.7 percent year-on-year to close at\nKRW 446.3 trillion, reaching the highest point as of the end of the year. In addition, the\naverage daily trading value expanded by 10.2 percent vear-on-vear to reach an all-time\nhigh of KRW 11.9 trillion, reaffirming the KOSDAQ market's fundamental role as a platform\nfor innovative growth.\nThe KRX improved systems in order to facilitate the listings of excellent companies with\nhigh growth potential. First of all, it set up a foothold for large innovative companies such\nas unicorns to enter the KOSDAQ marketin a timely manner and raise capital by streamlining the\n한 국 거 래 소\nCORA EXCHANGE 1 1\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\nspecial tech listing track for companies that have been proven to perform well in the\nSPAC), in addition to the existing method in which the SPAC continues as the survivin\nntity after the merger, the KRX approved the new method of forcing the SPAC int\nethods in consideration of needs including business difficulties while still making use\ne advantages of a prompt and convenient listing via an SPAC. Moreover, the KRX carri\nout a complete overhaul of the complex and obscure existing listing rules for KOSDAQ tc\nsignificantly improve their users' access to and understanding of the rules, thereby\nenhancing customer services. As a result of revamping the KRX's institutional and proce-\ndural systems to be able to select companies with growth potential and facilitate their\nsmooth entry into the capital market, the number of KOSDAQ-listed companies surpassed\n1,500 in 13 years and seven months after reaching the milestone of 1,000 companies in\nOctober 2007.\nThe KRX improved the faithfulness of disclosure information by assessing the operational\nstatus of the disclosure guidelines considering the distinct characteristics of the pharma-\nceutical and bio industries and reflecting improvements. In particular, in order to support\nthe establishment of an efficient disclosure system at small and medium-sized enterprises\n(SMEs) and innovative companies with weak disclosure capabilities, the KRX partnered\nwith an outside accounting firm t o expand consulting services to diagnose t h e disclosure\nsystem on a company-wide level and suggest measures for improvement (for 25 compa-\nnies in 2020 and 89 companies in 2021), In addition, to enhance transparency in the\nfinancial information of listed corporations, the KRX provided support for the rational\nupgrade of internal control capabilities in line with the business realities of listed SMEs by\nproviding consulting on how to set up an internal accounting management system (for 68\ncompanies in 2021) and staff training.\nWith respect to the KONEX market, the KRX announced a set of measures to revitalize the\nmarket in cooperation with the Financial Services Commission (FSC), thereby establishing\na foothold for a rebound. As a result, the KRX will ease the financial requirements for the\nfast-track transition to KOSDAQ and introduce a new route for KONEX-to-KOSDAQ listings\nso that KONEX-listed firms can transition to KOSDAQ more easily. Furthermore, the KRX\nwil alleviate the burdens of designated advisors who play a pivotal role in KONEX listings\nby reducing the liquidity provision duty of designated advisors as well as the mandatory\nand atolidetie mind or of tier that has ben pret the eidesos res,\nentering the KONEX market, thereby boosting access to investment. While extending its\n1 2 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT\nAUDIT REPORT\nBusiness Performance\nMajor Indicators of the KOSDAQ and KONEX Markets in 2021 Indicators 2020 2021 Change(%)\nKOSDAQ (points) 968.42 1,033.98 +6.8\nNumber of listed corporations 1,468 1,532 +4.4\nAverage daily trading volume (milion shares) 1,631.7 1,755.6 +7.5\nTrading Average day amount (KWilin 10.8 11.9 +10.2\nKOSDAQ\nvalue 2,682.2 2,941.6 +9.7\nNew Number of corporations (excluding SPACS) 84 90 +7.1\nlisting Amount of IPOs (KRW trillion) 2.6 3.6 +38.5\nMarket capitalization (KRW trillion) 385.6 446.3 +15.7\nNumber of delistings 23 36 +56.5\nMarket capitalization (KRW trillion) 5.6 5.2 47.9\nNumber of listed corporations 143 131 48,4\nAverage daily trading volume (thousand shares) 640.1 689.2 +7.7\nKONEX\nAverage daily trading value (KRW 100 million) 51.8 74.1 +43.1\nFund raised (KRW 100 million) 2,272 5,348 +135.4\nNumber of company transfers to KOSDAQ 12 13 +8.3\nPerformance\nby Sector\n3 Derivatives Market\nThe average daily trading volume of the derivatives market increased 4.4 percent from the\nproviding risk management tools.\ndividual stock futures, one option and one ETF futures. In addition, as the Korean government\nlesignated RfRs as a major indicator of financial transactions, the KRX established the\nprices, improving the method of calculating theoretical prices for the KOSPI 200 Weekly\nOptions and upgrading the omnibus account system for foreign investors, and laid the\nfoundation for introducing systems and infrastructure at a standard equivalent to those in\nadvanced markets.\nWith respect to the operation of the market-making system, the KRX established\nstandards for selecting and terminating market-maker products as well as a system for\n한 국 거 래 소\nCOREA EXCHANGE 1 3\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\nIn addition, the KRX opened an after-hours market for KOSPI 200 futures linked to Eurex\nin Germany and USD futures in order to enhance the convenience of risk management and\nprovide new investment opportunities during the night session for domestic and foreign\ninvestors, and reflected regular market systems, including participation in the operation of\nthe omnibus accounts for foreign investors, in linked markets. The KRX is also continuously\nstriving to increase global investors' access to derivatives markets by promoting the\nmarketing of the aforementioned nighttime Eurex-linked market and publishing English\nnotices on systemic changes in the domestic derivatives market.\nMajor Indicators of the Derivatives Market in 2021\n3\nO C S\nI n s t r u m e n t s\nAverage daily trading volume\n(number of contracts) (number of contracts)\nOpen interest\n2 0 2 0 2 0 2 1 KOSPI 2001) 365,135 277,346 Change (%)|\n스 2 4 . 0\n2 0 2 0\n365,199\n2021\n292,403\nChange (%)\nД19.9\nMini KOSPI 200 158,700 138,536 A12.7 123,571 69,628 A43.7\nKOSDAQ 150 92,713 60,437 스 3 4 . 8 261,882 226,539 A13.5\nKRX 300 315 542 +72.1 1,020 768 A24.7\nStock 4,543,292 4,939,181 +8.7 5,323,211 6,455,661 +21.3\n3-year govemment bond 121,624 147,873 +21.6 361,353 351,017 A2.9\n71,247 68,103 14,4 148,318 746,323\n135,256 18,8\nUSD!) 425,502 399,672 46.1\n885,602 +18.7\nYen 2,435 1,175 451.7 16,898 8,569 A 4 9 Euro 3,534 3,255 47.9 30,358 30,348 40.1\nYuan 33 15 154.5 157 139 Д 11.5\nOthers? 4,330 12,210 +182.0 2,391 3,577 +49.6\nKOSPI 200ª)\n3,089,094 +1.0 2,188,511 2,111,885 A3.5\nMini KOSPI 200 3,058,946\n55,447 152,788 +175.6 148,649 309,991 +108.5\nKOSDAQ 150 1,444 3,367 +133.2 3,120 3,668 +17.6\nStock 18,691 79,561 +325.7 70,157 134,794 +92.1\nUSD-\nTotal 8,810,206 9,200,557 +4.4 9,778,126 11,001,432 +12.5\n1 4 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\n4 Clearing and Settlement Performance\nby Sector\nthe annual trading value of KRW 9,797.4291 trilion, and the annual value of settlements\nin the Exchange-traded Derivatives Market registered around KRW 33.7036 trillion, offset\nby 99.8 percent from the annual trading value of KRW 16,689.7821 trillion, demonstrating\nthe KRX's significant contribution to the stable operation of the markets. On top of that,\nthe scale of clearing and settlement for OTC products has continued to grow since the KRX\nlaunched mandatory OTC clearing services for KRW interest rate swaps in 2014. As a\nresult, in 2021, the registration amount of obligation assumption for KRW interest rate\nswaps recorded KRW 864 trillion, and the clearing balance reached KRW 1,728 trillion, a 10\npercent increase year on year.\nSince it launched the Clearing Division in April 2021 to strengthen the independence and\nexpertise of clearing and settlement business, the KRX has pushed ahead with the enactment\nof the \"Clearing Business Regulation\" which incorporates both Exchange-traded Securities\nand Derivatives markets. Furthermore, the KRX has laid the foundation for the OTC derivatives\ncompression service, and reformed the OTC clearing service system in line with the changes in\nthe global benchmark rates, such as the cessation of LIBOR.\nIn particular, the KRX has adopted the minimum margin requirement for the Exchange-traded\nmarkets and modified the calculation method of member margin rates in the securities\nmarket to swiftly cope with rapid changes in the market, including Covid-19. Moreover, the\nKRX has developed a principal component analysis (PCA) methodology to diversify OTC\nstress testing scenarios, and devised measures for the expansion of settlement resources\nin preparation for a large-scale default, and for the OTC auction framework to close out the\nposition of a defaulting member in a reliable manner, advancing the risk management\nframework and infrastructure of the Exchange-traded Securities, Derivatives and OTC\nDerivatives markets.\nFurthermore, the KRX has established a risk management verification system and validated the\nadequacy of the relevant models through external consulting services to become better\naligned with the international standards, including the Principles for Financial Market\nInfrastructures (PFMI) and European Market Infrastructure Regulation (EMIR). The KRX has\nreviewed the scale of CCP liquidity resources and credit lines for the stable operation of\nCCP and made ceaseless efforts to enhance its capability to respond to default by regularly\nconducting comprehensive fire-drills for both Exchange-traded and OTC markets.\n5 Commodity Market\nThe average daily trading volume and value of the KRX petroleum market hit a record high\nin 2021. The trading volume and value increased 10.6 percent and 33.2 percent, respectively,\nfrom the previous year to 25.76 million liters and KRW 3 billion due to factors such\n한 국 거 래 소\nCOREA EXCHANGE 1 5\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\nas rising oil prices. Considering the changes in the petroleum industry, the KRX improved\nts trading system in a market-friendly manner by reducing the lot size unit for auctic\ncom the previous 20,000 to 4,000 liters and deferring the product shipping deadline t\none business day. It also adopted its own incentives to promote competition among\nvarious participants.\nThe average daily trading volume and value of the KRX gold market rose 8.0 percent and\ntrust products, which will provide investors with tools to respond to increasing uncertain-\nties in the financial market and broaden the investor base for gold, as well as differentiated\nadvertising marketing and joint marketing among securities companies to increase OTC\ntrading. In addition, the KRX sought to expand the market by providing liquidity and\nsecuring sufficient products to be supplied to the market through the improvement of the\nliquidity provider (LP) system and the attraction of gold bullion suppliers.\nThe average daily trading volume and value of the KRX emissions trading market were\n104,313 tons and KRW 2.4 billion, respectively. The trading volume increased 23.5\npercent year-on-year, whereas the trading value slightly decreased by 2.5 percent from\nthe previous year in the aftermath of the carbon prices drop in the first half of the year.\nThe KRX additionally recruited three securities companies as market makers to increase\nmarket liquidity and ensure the stability of supply and demand. It also allowed securities\ncompanies, in addition to the existing business entities to which emission permits have\nbeen allocated, to manage their own assets in the emissions trading market, and as a\nresult, 20 securities companies have participated in the market under the improved\nsystem since December 21, 2021. In line with the third phase of South Korea's emissions\ntrading scheme between 2021 and 2025, the KRX pushed ahead with the development of\nan overall plan to introduce the brokerage of allocated business entities and individual\ninvestors, and a system for business cooperation with related organizations, aiming to lay\nthe foundation for the efficient implementation of environmental policies by the govern\nment as well as the qualitative growth of the market.\nMajor Indicators of the Commodity Market in 2021\nIndicators 2020 2021 Change (%)\nKRX petroleum market\nAverage daly trading volume (10 thousand iters) 2,328 2,576 +10.6\nAverage daly trading value (KRmilion) 24,773 32,997 +33.2\nKRX gold marke\nAverage daily trading volume (gram) 105,649 114,096 +8.0\nAverage daily trading value (KW milion) 7,263 7,588 +4.5\nEmissions trading market Average daily trading volume (ton) 84,492 104,313 +23.5\nAverage daily trading value (KW milion) 2,503 2,441 A2.5\nM a r k e t Oversight\nIn terms of market oversight, the KRX performs autonomous regulatory duties including\nthe prevention of unfair trading, conflict resolution, market oversight and investigation,\n16 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nPerformance\nby Sector\nFirst, the KRX expanded the dedicated task force and built a short-selling monitoring and\ndetection system with the aim of uncovering illegal short-selling activities as well as\ndiscouraging unfair trades committed through short-selling. Specifically, it strictly\nmonitored and examined abnormal stock issues and whether any member companies\ncommitted illicit short-selling, through an integrated control center with the capacity to\nidentify the short-selling status at a single glance. In addition, the KRX endeavored to gain\ninvestors' trust toward short-selling by amending related regulations, including reinforcing\nthe duty of supervising member companies' short-selling activities and further developing\noversight methods in response to diverse forms of illegal short-selling activities.\nSecond, to strengthen the Market Oversight Commission's capability to curb unfair trade\npractices, the KRX improved the existing regulatory system and conducted research on\nthe adoption of advanced market oversight methods. It clarified standards for imposing\nmember disciplinary fines and improved the methods of intensifying and alleviating\nmember penalties, with the aim of upholding its member companies' rights and interests.\nIn addition, the KRX intensified its role in preventing unfair trading by enhancing the\nmarket alert and preventive action request systems. Furthermore, the KRX studied and\nanalyzed tools and measures to prevent cross trading in other countries in order to estab-\nlish a rational plan for domestic market participants. It also conducted research on methods\nto improve the market oversight capability by using the methodology of big data analytics\nin order to utilize online market information for market oversight in the future.\nThird, the KRX is also dedicating itself to protecting investors in response to a sharp rise in\nindividual investors and the spread of unfair trading activities through online tools includ-\ning social media. Considering the recent changes in the market environment, it reorganized\nFifth, the KRX undertook intensified investigations into high-profile issues to detect unfair\ntrading activities earlier and take necessary action, and expanded its investigation capability\n한 국 거 래 소\nCOREA EXCHANGE 1 7\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\nthrough internal and external information sharing, education, and system improvement. In\nLastly, the KRX enhanced the member-centered prevention system to minimize damage\nfrom unfair trading activities following the sharp rise of new and individual investors. In\n2021, it conducted probationary inspection on the monitoring, detection, and action of 43\ncompanies as well as the order method identification data of all members, and published\n\"The Improvement Plan for Example Monitoring Standards\" including the reinforcement of\nmembers' responsibilities and monitoring efficiency so that members may voluntarily\nimprove their internal controls.\nAl of these activities represent the KRX's utmost efforts to stay ahead of rapid market\nchanges and proactively respond to increasingly advanced unfair trading activities,\nthereby ensuring the constant reliability of the capital market. It issued 2,542 market\nalerts on stocks showing a sharp rise in their share price or concentrated trading in a small\nnumber of accounts so that investors could recognize risk in advance. To prevent unfair\ntrade, it implemented 6,496 preventive measures on trading accounts suspected of\nmarket manipulations, such as bogus quotes, wash trading, and excessive market price\ninvolvement, and reported 109 suspicious stocks after investigation to the Financial\nServices Commission (FSC). For its member companies, the KRX carried out 96 inspections\non spots and derivatives and 184 inspections on short-selling, and identified 54 violations\nand took the necessary disciplinary actions.\nMajor Indicators of Market Oversight in 2021\nI n d i c a t o r s 2 0 2 0 2 0 2 1 Change(%)\nMarket alerts 7,846 2,542 467.6\nMarket alerts\n(no, of cases)\nTrading suspensions 89 57 436.0\n(no. of cases) Preventive measures?) 4,987 6,496 +30.3\nMarket monitoring\nStocks on watch list?) 259 194 Д 25.1\nInvestigations 174 170 д 2.3\nNotifications to FSC 112 109 42.7\nInvestigation (no, of cases)\nFraud 23 456.5\nMarket manipulation 33 13 4606\nUndisclosed 51 ㄲ +510\nNo. of inspections on spots and derivatives 151 96\nMember inspection\n(no. of cases)s)\nNo. of inspections on short-selling 184\nDisciplinary actions on spots and derivatives*) 46\nDisciplinary actions on short-seling*) 56\n. . . .\n1) Includes the spot market (KOSPI, KOSDAQ) and the derivatives market.\n2) n-depth analysis of prices, trade volume, trading patterns and other information to determine referral for investigation\n3) Since 2021, the inspection function has ben split into spots & derivatives and short-selling.\n4) Caution/warning, demand for improvement, disciplinary fines (member disciplinary fines, summary penalties), etc.\n1 8 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT\nAUDIT REPORT\nBusiness Performance\n• International Business Performance\nby Sector\nquality for relevant maintenance services. In order to provide stable services to customers,\nthe KRX actively utilized online channels such as video conferencing as well as the global\ncustomer management system on its website in performing projects and dealing with\nmaintenance issues. In addition to IT export projects, the KRX discussed the promotion of\ncredit assistance programs, including education and consulting projects with government\naid a g e n c i e s s u c h a s t h e Korea International Cooperation A g e n c y (KOICA) a n d international\norganizations such as the European Bank for Reconstruction and Development (EBRD)\nSuch projects presented useful opportunities for the KRX to expand the Korean model of\ncapital markets abroad and to lay the foundation for a future IT export environment.\nMeanwhile, the KRX has been participating in the policy-making processes of global\nfinancial authorities through activities at a number of international organizations. For\nexample, it held the directorship of the World Federation of Exchanges (WFE), which\nrepresents about 70 capital markets worldwide, and also became the chair organization of\nthe Asian and Oceanian Stock Exchanges Federation (AOSEF), a representative federation\nof stock exchanges located in the Asia-Pacific region. In particular, it has been making an\nongoing effort to forge a consensus on sustainable finance, placing high value on environ-\nmental, social and governance (ESG) factors while maintaining close relationships with the\nUN Sustainable Stock Exchange (SSE) Initiative, UN Global Compact, and International\nOrganization of Securities Commissions (IOSCO). At the same time, the KRX is establishing\nan organization-wide foundation for international cooperation in response to intensifying\nglobal competition by forming a global network that enables the timely utilization of\npotential for strategic cooperation with major exchanges such as the New York Stock\nExchange (NYSE), the Shanghai Stock Exchange (SSE), and the Hong Kong Exchanges and\nClearing Limited (HKEX) as needed.\n& Sustainable Management\nInterest and expectations toward corporate social responsibility are higher than ever. The\n‹RX is not only faithfully fulfilling its duties in the capital market but carrying out various\nactivities to achieve sustainable management as a social enterprise\nOperang is ostra of arecois inco postine owed mines and anded termeeting\nresults on its website. Important management issues are also announced on the website\nto enhance transparency and bridge the information gap of stakeholders. Through the KRX\nHappy Foundation established in 2011, the KRX has been carrying out social contribution\nactivities in a broad range of sectors from financial education and human resource development\nto social welfare and overseas cooperation.\nTo promote socially responsible investment as the capital market operator, the KRX has\npeen announcing a series of environmental, social and governance (ESG) indices\n한 국 거 래 소\nCORA EXCHANGE 1 9\nKRX ANNUAL REPORT 2021\nBusiness Performance\nPerformance\nby Sector\n9 Information Business and IT\nIn the index business sector, the KRX endeavored to grow as an index provider that leads\nmarket trends through the timely development and stable management of indices in line\nwith market needs. As part of the Korea-China capital market cooperation promoted by the\ngovernment, the KRX and China Securities Index Co. (CSI) jointly developed three stock\nindices, which allow simultaneous investments in both countries' markets. It also launched\nthree KRX Climate Change Indices to promote a carbon-neutral society through the capital\nmarket and spread the ESG investment culture in Korea. In addition, the KRX developed\ntwo KRX K-New Deal Conservative Balanced Indices and two KRX K-New Deal Leverage\nIndices to facilitate the Korean New Deal. It also launched KOSPI 200 and KOSDAQ 150\nTop 10 indices in a timely manner by reflecting investment trends. To invigorate the ETN\nmarket and lay the foundation for its steady growth, the KRX developed four new\nrepresentative futures indices for ETNs. Furthermore, it continued to develop a next-gen-\neration index management system for the stable management of rapidly-growing indices,\ngathered various opinions from industries to be highly responsive to the ever-changing\nmarket environment, and also carried out index remodeling to boost the marketability of\nindices. As a result, 42 new contracts were concluded in 2021 and ETPs worth KRW 1.5\ntrillion were listed (as of the end of December 2021), contributing to the advancement of\nthe capital market and the revitalization of the ETP market.\nIn the information business sector, the KRX conducted promotions for foreign information\nproviders with the aim of expanding the basis for sales of market quote information and\nattracting new customers. Through the promotions, the KRX attracted three foreigr\ninformation vendors as customers to enhance international investors' access to the\nKorean market and expand their points of contact with potential customers. In addition, it\nintensified support for listed companies' IR activities by improving the market quote\ninformation service by, for example, providing both stock quotes and disclosure informa-\ninformation to start-ups as part of the effort to support the financial technology (Fintech)\ninformation dispersed among the KRX website, the short-selling portal, and the Securities\nMarket Information Library of Exchange (SMILE), and providing a one-stop search service\nfor data users. To enhance data consistency, it also developed management systems such\nas the comprehensive data dictionary, data lineage, and monitoring system, thus ensuring\n/stematic data quality management. In 2021, the number of companies using the KR)\narket quote information stood at 521 in total and its sales revenue from the mark\n2 0 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nquote service amounted to around KRW 84 billion, up 18.8 percent compared to the\nprevious year.\nPerformance\nby Sector\nwith IT security breaches by reinforcing its capacity to prevent, manage, and respond t\nberattacks. In addition, the KRX is promoting the establishment of its next generatio\neffort to proactively overhaul the current outmoded market systems and stay ahead of\nregulatory and institutional changes. Through this system, the KRX will provide customers\nwith a world-leading investment environment such as a separate matching engine for\neach product type, shortened recovery time, standardized infrastructure technologies, and\nextensible infrastructure. In addition, the Trade Repository (TR) system has been estab-\nlished and operated to establish a new infrastructure environment for financial markets\nthat ensures a transparent OTC derivatives market and enhances the financial authorities'\ncapacity to manage various crises. The integrated information data center was successful-\nly operated, providing a unified information data platform to organize and diversify\ninformation businesses, including data sales.\nThe KRX will make ceaseless efforts to provide a stable investment environment and\nachieve the qualitative growth of the Korean capital market through continuous invest\nment and technological innovation in its IT infrastructure.\n한 국 거 래 소 2 1\nKOREA EXCHANGE\nKRX ANNUAL REPORT 2021\nBusiness Performance a n d\nFinancial Position i n t h e P a s t T h r e e Ye a r s\nBusines\nPerformance\n(Summary of\nStatement of\nIncome)\n(Unit KRW 10 milion)\nAccounts 2021 2020 2019\n1. Operating revenue 7,428 4,969 3,862\nOperating profit & loss\nII. Operating expenses 3,391 2,990 3,021\nIII. Operating income 4,037 1,979 841\nIV. Other income 399 319 309\nV. Other expenses 1,207 572 134\non-operatin\nrofit & los\nVI. Financial income 1,225 1,476 1,287\nVI. Financial expenses 658 821 675\nVIL. Profit before tax 3,796 2,381 1,628\nIX. Income Tax Expenses 1,006 604 387\nX. Profit for the year 2,790 1,777 1,241\n*Prepared in accordance with K-IFRS\nFinancial\nPosition\n(Summary of\nStatement of\nFinancial\nPosition)\n(Unit: KRW 10 milion)\nAccounts 2021 2020 2 0 1 9\nI. Current assets 59,145 62,577 39,304\nI. Non-current assets 22,142 20,687 22,648\nTotal assets 81,287 83,264 61,952\nI. Current liabilities 2,045 1,710 1,272\nII. Non-current liabilities 51,746 56,424 36,866\nTotal liabilities 53,791 58,134 38,138\nI . Contributed capital 2,996\n2.996 2,996\nI. Retained earnings 23,385 21,282 20,001\nI. Other equity elements 1.115 852 817\nTotal equity 27,496 25,130 23,814\n* Prepared in accordance with K-IFRS\n2 2 K R X\nK O R E A E X C H A N G E BUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nUpcoming Challenges\nPlease see the Mesage from the CEO and the Business Performance sections.\n한 국 거 래 소 2 3\nKOREA EXCHANGE\nKRX ANNUAL REPORT 2021\nDirectors a n d Auditor\nComposition of\nDirectors and\nAuditor\nCategory\nName Position Responsibilities\nByungdoo Sohn Chairman & CEO Overall supervision\nHoe Jeong Standing member\nKim A",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_cash_flow",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "No cash flows given, only the cash balances: Cash and cash equivalents: 2,546,341,545,021, prior year:  2,756,213,537,937 ",
      "golden_context": "Page 36:\n\n Cash and cash equivalents 2,546,341,545,021 2,756,213,537,937 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_company_type",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly given.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_key_financials",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "590.6bn operating revenue, profits 301.4bn",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview\nIn 2022, as the trading value of the Korean capital market significantly decreased\ncompared to the previous year due to the impact of reduced market liquidity caused by the\naccelerated monetary tightening in the U.S., the KRX posted KRW 590.6 billion in\noperating revenue, down KRW 152.2 billion (20.5 percent) from the previous year. Its\noperating expenses decreased by KRW 10.9 billion (3.2 percent) year-on-year to KRW\n328.2 billion, while its profit increased by KRW 22.4 billion (8.0 percent) from a year earlier\nto KRW 3014 bilion due to the decrease in income tax expenses as a result of the revised\ntax law, despite the decline in operating revenue.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_revenue",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "590.6bn operating revenue",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview\nIn 2022, as the trading value of the Korean capital market significantly decreased\ncompared to the previous year due to the impact of reduced market liquidity caused by the\naccelerated monetary tightening in the U.S., the KRX posted KRW 590.6 billion in\noperating revenue, down KRW 152.2 billion (20.5 percent) from the previous year. Its\noperating expenses decreased by KRW 10.9 billion (3.2 percent) year-on-year to KRW\n328.2 billion, while its profit increased by KRW 22.4 billion (8.0 percent) from a year earlier\nto KRW 3014 bilion due to the decrease in income tax expenses as a result of the revised\ntax law, despite the decline in operating revenue.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_revenue_growth",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "-20.5% decline",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview\nIn 2022, as the trading value of the Korean capital market significantly decreased\ncompared to the previous year due to the impact of reduced market liquidity caused by the\naccelerated monetary tightening in the U.S., the KRX posted KRW 590.6 billion in\noperating revenue, down KRW 152.2 billion (20.5 percent) from the previous year. Its\noperating expenses decreased by KRW 10.9 billion (3.2 percent) year-on-year to KRW\n328.2 billion, while its profit increased by KRW 22.4 billion (8.0 percent) from a year earlier\nto KRW 3014 bilion due to the decrease in income tax expenses as a result of the revised\ntax law, despite the decline in operating revenue.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000482_segments",
      "report_id": "ID_000482",
      "company_name": "Korea Exchange",
      "year": 2022,
      "country": "KR",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "KOSPI Market, KOSDAQ Market, Derivatives Market, Clearing and Settlement, Commodity Market, Market Oversight, Global Business, Sustainable Management, Information Business and IT",
      "golden_context": "Page 10-26:\n\nPerformance\nby Sector\nO KOSPI Market\nThe Korea Composite Stock Price Index (KOSPI) ended its final trading session in 2022 at\n2,236 points, down 24.9 percent from the previous year; the market capitalization of\nKOSPI reached KRW 1,767 trillion, down 19.8 percent year-on-year; and the average daily\ntrading value reached KRW 9.0 trillion, down 41.6 percent year-on-year. The amount of\nIPOs decreased by 21.5 percent from the previous year to KRW 13.5 trillion.\nIn terms of corporate listings, LG Energy Solution Ltd. recorded the highest amount of a\nstrengthen responsible management by executives. The KRX also strengthened the\n0 8 KRX\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nqualitative review to determine whether a listed parent company has implemented\nmeasures to protect its shareholders when its split-off subsidiary is listed. In addition, in an\nattempt to ease the burden on companies and protect investors, it improved the criteria for\ndesignating administrative issues and delisting by converting the grounds for\nfinance-related formality review delisting to grounds for listing maintenance review and\nby expanding the grounds for filing an objection against delisting. Furthermore, it\nformulated specific criteria for qualitative ESG review to support the establishment of ESG\nfor investor protection.\nIn terms of the management and disclosures of listed companies, even amid the difficulties\ncaused by the COVID-19 pandemic, the KRX operated the disclosure system without a\nhitch by implementing distributed work place, while bridging the information gap and\nestablishing a culture of timely and faithful disclosures by inspecting the fulfillment of\ntimely disclosure obligations, selecting corporations with excellent disclosure, and\nproviding incentives. While maintaining communication channels between listed\ncompanies and investors by holding online investor relations (IR), the KRX endeavored to\novercome the limitations of non-face-to-face communication through meetings for\ndisclosure officers, workshops for disclosure staffs, and on-site training for listed\ncompanies in line with the transition to the \"living with Covid-19\" policy. The KRX conducted\nc o n s u l t a t i o n s o n t h e e s t a b l i s h m e n t o f a n e x t - g e n e r a t i o n listing a n d disclosure s y s t e m a n d\nmapped out a future blueprint for a sustainable listing and disclosure system that can keep\npace with the rapid development and quantitative expansion of the capital market. To\nmeet the growing demand for investment information in English in line with the enhanced\nglobal status of the Korean market, the KRX continuously expanded English translation\nsupport services for the disclosures of listed companies, and took the lead in resolving the\nissue of the Korea discount by establishing a cooperative system for Al-based automatic\nEnglish translation of disclosures and drawing up comprehensive support measures to\npromote English-language disclosures.\nThe KRX ETP Market developed and introduced various new products to meet diversified\ninvestment demands. In order to make investment opportunities available to our valued\ninvestors, the KRX ETF Market introduced a diverse range of ETFs including Maturity Term\nETFs and Target Date ETFs, and listed the ETFs whose underlying indices were co-devel-\noped by the KRX and the CSI(China Securities Index). Since the creation of a new team\nspecializing ETF listing review, a total of 139 new ETFs were listed in a timely manner.\nAlso, the ETN Market did develop new products such as +0.5X, +1.5X leveraged ETNs as\nwell as up to +3X bond-type ENs. A total of 121 ENs were listed including those ETNs\nsatisfying niche market demands of Busan Expo ETN, Web 3.0 ETN and Green Energy ETN.\nAs a result of these efforts in ETP Markets, as of the end of 2022, the Net Asset Value of\nthe ETF Market grew by 6.1 percent to KRW 78.5 trillion and the Total Indicative Value of\nthe ETN Market increased by 10.5 percent from the previous year to KRW 9.7 trillion. In\naddition, the number of listed ETFs and ENs was 666 and 366, respectively, up 133 and\n96 from a year earlier, showing tremendous growth. Meanwhile, in terms of market\npromotion and investor education, the KRX successfully held the Global ETP Conference to\ncommemorate the 20th anniversary of the ETF market, operated educational channels\nsuch as Naver Post and KakaoTalk Plus Friend, and revised its investor guidebook, \"Smart\nAsset Management ETFs and ETNs\", in an attempt to deliver information on ETP products\nPerformance\nby Sector\n한 국 거 래 소\nC O R E A E X C H A N G\n0 9\n• KRX ANNUAL REPORT 202\nBusiness Performance\nPerformance\nby Sector\nin an investor-friendly manner. Moreover, it launched the Integrated Information Platform\nfor Derivative-Combined Securities (TIP Platform, https://tip.krx.co.kr) in October 2022 to\nenhance investor protection by providing easily-understandable information on\non-exchange ETN and ELW as wel as off-exchange ELS and DLS. Anyone who wants to\naccess to such information on those securities would find key investment information\nsuch as security classification and risk level indicators on the TIP Platform.\nIn 2022, the total amount listed on the bond market was KRW 2,350 trillion, up 5.3 percent\nfrom the previous year, while the total listings of socially responsible investment (SRI)\nbonds amounted to KRW 198.6 trillion, up 24.4 percent during the same period. However,\ndue to factors such as global interest rate hikes and the liquidity crunch, the average daily\ntrading value in 2022 was KRW 3.9 trillion, down 33.8 percent from a year earlier, while\ntotal new listings amounted to KRW 698.1 trillion, down 6.5 percent year-on-year, and\nnew listings of SRI bonds decreased by 33.8 percent to KRW 57.5 trillion. Meanwhile, in\nterms of systems and infrastructure, the KRX mapped out a plan to switch to an exclusive\nnetwork for the market infrastructure of the Korean Treasury Bond (KTB) market so as to\nenhance market access and broaden the market base by improving the infrastructure of\nthe KTB market. Through these efforts, the KRX laid a foundation for the advancement of\nthe KTB market, such as automating the submission of market-making quotes and\nreinvigorating algorithmic trading and spot-futures-linked trading. In addition, the KRX\noverhauled the priority of quotes in the License & Permit Bond Market (KRX LPB) to\nfacilitate the smooth sale of LPBs and strengthened the purchasing base by expanding the\nquantity limit on bid quotations per class of outstanding LPB dealers. Moreover, it\nproactively adopted sustainability-linked bonds (SLBs), which are actively being issued\nparticularly in Europe where the ESG industry is thriving, as SRI bonds. By doing so, it\ncontributed to the sustainable management of corporations through the issuance of SRI\nbonds and provided investors with more options by expanding the lineup of SRI bonds that\nare relatively free from greenwashing.\nIn terms of ESG disclosures, the KRX revamped the ESG Portal, a comprehensive ESG\nreports submitted by 345 listed companies and took necessary measures, including\nrequest for corrective disclosure, to raise awareness of corporate governance report\ndisclosure, while establishing improvement measures for the disclosure system of\ncorporate governance reports with a focus on computerizing report submission,\nmanagement, and inspection, thereby laying the foundation for reducing the burden of\norporate governance report disclosure for the companies listed on the Korean mark\nastly, it also actively carried out activities to enhance awareness of ESG, such as holdir\nthe KRX ESG Forum 2022.\n1 0 K R X\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nMajor Indicators of the KOSPI Market in 2022 Performance\nIndicators 2021 2022 Change(%)\nby Sector\nKOSPI (points) 2,977.65 2,236.40 스 2 4 9\nKOSPI 200 (points) 394.19 291.10 4262\nAverage daily trading volume (million shares) 1,039.5 595.1 142.7\nTurnover of listed stocks (frequency) 4.4 23 스 4 7 1\nEquity\nm a r k e t Trading Average daly amount (KRW trilon) 15.4 9.0 스 4 1 . 6\nvalue Yeaty amount KWilin 3,825 2,216 A421\nNew Number of corporations\nlistings Amountof IPOs (KWtilion)\n28 10 4643\n172 135 2 1 5\nMarket capitalization (KRW trillion) 2203 1,767 A 1 9 8\nETF\nAverage daily trading value (KRW 10 milin) 29,389 27,828 45.3\nNumber of issues 533 666 +25.0\nMarket capitalization (KRWtilion) 74.0 78.5 +6.1\nSecuritized Average daily trading value (KRW 100 milion) 443 1,516 +242.0\nproduct market ETN Number of issues 270 366 +35.6\nMarket capitalization (KRW tilion) 8.8 9.7 +10.5\nAverage daily trading value (KRW 10 milion) 1,627 1,283 1211\nELW Numberof issues\n3,109 A180\nMarket capitalization (KRW tilion) 3,793\n11.3 11.7 +4.0\nBond Average daily trading value (KRW trillion) 5.9 3.9 A 3 3 8\nmarket Outstanding amount listed (KRW trillion) 2231 2,350 +5.3\nOutstanding amount listed of SRI bonds (KRW tilion) 159.6 1986 +24.4\n2 KOSDAQ Market\nThe KOSDAQ market closed 2022 at 679.29 points, down 34.3 percent from the end of\nthe previous year on the back of a slight rebound amid expectations of the U.S. Federal\nReserve's policy shift and inflows of foreign purchases, after hitting a record low of 651.59\npoints for the year on October 13 during the continued downward trend caused by\nexternal factors such as the acceleration of U.S. monetary tightening and the emergence\nof geopolitical risks related to the Russia-Ukraine conflict. The market capitalization\ndeclined 29.3 percent year-on-year to close at KRW 315.5 trillion, while the average daily\ntrading value decreased by 41.9 percent year-on-year to reach KRW 6.9 trillion.\nWith the aim to enhance the attractiveness of the listings in the KOSDAQ market and\nfacilitate the influx of new investors such as institutions and foreigners, the KRX\nintroduced a segment system to select noteworthy companies with outstanding financial\nperformance, market valuation, and corporate governance to be designated as \"KOSDAQ\nGlobal Companies,\" subsequently designating a total of 51 companies as \"KOSDAQ Global\n한 국 거 래 소\nA EXCHANGI 1 1\n• KRX ANNUAL REPORT 202\nB u s i n e s s P e r f o r m a n c e\nPerformance\nby Sector\nSegment Companies.\" The KRX strengthened the visibility of the selected companies as\nblue-chip companies that represent the KOSDAQ by separately providing segment-related\ninvestment information through the market data system and dedicated websites. The\nKRX also overhauled the delisting system to ensure that decisions on delisting are made in\nsufficient consideration of a company's potential for business turnaround and that the\ndamage to investors is minimized. First, the KRX converted finance-related formal grounds\nfor delisting, such as sales not up to standards and capital impairment, into grounds for\nlisting maintenance review, which allows for the decision on delisting to be made in\nconsideration of various factors such as the sustainability of the business and\nmanagement stability, rather than a company's past performance. The KRX also improved\nthe system with regard to previously-unappealable grounds such as a failure to submit\nperiodic reports and trading volumes not up to standards by allowing appeals and\nopportunities for improvement, thereby ensuring the resolution of delisting grounds and\nthe normalization of business. In addition, the KRX revised the delisting requirements that\nimposed high burdens on listed companies in comparison to their effectiveness in terms of\nprotecting investors, by the removal of grounds for listing maintenance review such as\nfive consecutive years of operating losses and two consecutive years of modified opinions\nin the internal accounting control. Moreover, the KRX changed the frequency for the\ndesignation of issues for administration and the application criteria for delisting based on\ncapital impairment and other delisting factors from semi-annual to annual.\nThe KRX also improved the disclosure system to enhance the diversity and faithfulness of\ndisclosure information of KOSDAQ-listed corporations. As a first step, the KRX prepared a\nroadmap for the introduction of a corporate governance report disclosure system on the\nKOSDAQ market, in line with the global trend of ESG responsible investment and the\nimprovement of corporate governance on the KOSDAQ market. The KRX improved the\nfaithfulness of disclosure information by assessing the operational status of the disclosure\nguidelines in consideration of the distinct characteristics of the pharmaceutical and bio\nindustries and formulating improvement measures. The KRX also provided continuous\nsupport for KOSDAQ-listed corporations to strengthen their disclosure capabilities. In order\nthe KRX strengthened the internal information control system and supported th\nprovision of specialized practical training on the internal accounting management syster\nWith respect to the KONEX market, the KRX arranged a set of measures to revitalize the\nmarket in cooperation with the Financial Services Commission (FSC), thereby establishing\na foothold for a rebound. As a result, the KRX eased the financial requirements for the\nfast-track transition to KOSDAQ and introduced a new route for KONEX-tO-KOSDAQ\n1 2 KRX®\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nlistings so that KONEX-listed companies can transition to KOSDAQ more easily.\nFurthermore, the KRX alleviated the burdens of designated advisors who play a pivotal\nrole in KONEX listings by reducing the liquidity provision duty of designated advisors as\nwell as the mandatory period for designated advisors to file disclosure reports on behalf of\nne listed companies, and abolished the minimum deposit requirement that had preclude\nvestors from entering the KONEX market, thereby improving investment accessibilit\nWhile extending its incubating functions for the KONEX market by providing KONEX-listed\ncompanies with consulting services on the internal accounting management system, the\ndisclosure system, and the transfer listing to the KOSDAQ market (with 18, 16, and 13\ncompanies receiving consultation for each system, respectively), the KRX endeavored to\nprotect investors by constantly providing investment information including active support\nfor online and offline IR activities and the publication of company analysis reports.\nIn addition, the KRX established the \"KONEX Market Development Forum\" with the aim to\nexplore measures for the sustainable development of the KONEX market and strengthen\ncommunication with the market (the first forum was held on December 6, 2022), and\nconducted a range of activities to promote vitalization measures and attract promising\ncompanies to list on the KONEX market, such as holding meetings for investment banks\n(IB) and venture capitalists (VC) and company briefings. The KRX also improved the system\nto facilitate listings, such as through the streamlining of listing application documents and\nthe easing of requirements for recognizing the investment price of VCs and others as the\nappraisal price for initial listing. As a result, despite the overall downturn in the stock\nKONEX market finally saw an increase after a continued decline for the past several years.\nMajor Indicators of t h e KOSDAQ and KONEX Markets in 2022\nPerformance\nby Sector\nIndicators 2 0 2 1 2022 Change(%)\nKOSDAQ (points) 1,033.98 679.29 A34.3\nNumber of listed corporations 1,532 1,611 +5.2\nAverage daily trading volume (milion shares) 1,755.6 1,033.5 441.1\nTrading Average daily amount (KRWilion) 11.9 6.9 441.9\nKOSDAQ\nvalue Yearly amount (KRW tillion) 2,941.6 1,707.7 441.9\nNew Number of corporations (excluding SPACs) 91 84 7 . 6\nlisting Amount of IPOs (KWtillin) 3.6 3.0 416.7\nMarket capitalization (KRW trillion) 446.3 315.5 129.3\nNumber of delistings 36 37 +2.8\nMarket capitalization (KRW trillion) 5.2 3.9 A24.3\nNumber of listed corporations 131 132 +0.8\nAverage daily trading volume (thousand shares) 689.2 451.7 134.5\nKONEX Average daily trading value (KRW 10 milion) 74.1 22.4 469.8\nFund raised (KRW 100 milion) 5,348 2,778 148.1\nNumber of newly-listed corporations 14 +100.0\nNumber of company transfers to KOSDAQ 13 6 453.9\n한 국 거 래 소\nOREA EXCHANGI 1 3\n1 KRX ANNUAL REPORT 202\nBusiness Performance\nPerformance\nby Sector\n3 Derivatives Market\nThe average daily trading volume of the derivatives market declined 9.1 percent from the\nprevious year to 8.37 million contracts, while the average daily open interest was 9.64\nmilion contracts, down 12.4 percent compared to the previous year. By product, the\nvolume of US dollar futures increased due to fluctuations in the Korean won-U.S. dollar\nexchange rate, while the trading volume of single stock futures decreased\nThe Derivatives Market Division endeavored to provide diverse risk management tools to\nmarket participants, even in challenging market conditions. The KRX launched a risk\nmanagement instrument in the short-term interest rate market through the introduction\nof 3-month Korea Overnight Financing Repo Rate(KOFR) futures (March 2022) and\nadditionally listed 20 issues of single stock futures and 5 issues of single stock options\n(July 2022) under high trading demand from investors. The KRX also listed the KOSPI 200\nWeekly Options on the nighttime Eurex-linked market (March 2022) to strengthen its risk\nmanagement function over price fluctuations during the night session, while planning its\nown nighttime market with the establishment of a nighttime market opening task force.\nFurthermore, it actively promoted the introduction of emission credit futures in line with\nthe government's carbon neutrality policy and the introduction of ultra long-term\ngovernment bond futures to strengthen risk management in the long-term interest rate\nmarket.\nThe KRX made significant achievements in terms of enhancing market stability in\nresponse to the spread of algorithmic trading. It established a high-speed algorithmic\ntrader pre-registration system and measures to strengthen member risk management, as\nwell as introducing and planning to implement systems in line with global advanced\nmarkets, such as mass order cancellation and self-match prevention. In relation to the\nmarket-making system, the KRX laid the foundation for the stable operation of the system\nby extending the sunset date for the exemption of market makers from securities\ncompetition among market makers through the operation of a promotion and demotion\nsystem among market-maker groups to strengthen the liquidity supply function.\nThe KRX also made active efforts in terms of education and promotional activities to\nexpand the investment base in the derivatives market. Through the utilization of a range\nof communication channels such as social networking services and metaverses, the KRX\nincreased the familiarity of Generation MZ as future potential investors towards\nderivatives, and contributed to the nurturing of financial talent by supporting the\nsecond-term activities of \"KRX FutureStar,\" a study group on derivatives led by university\nstudents in Busan. Furthermore, the KRX conducted seminars and one-on-one sales\nactivities for global institutional investors, and participated in a number of overseas\nderivatives conferences to raise awareness of the KRX derivatives market and attract\ninvestors.\n1 4 KRX\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nMajor Indicators of the Derivatives Market in 2022\nAverage daily trading volume\nI n s t r u m e n t s (number of contracts)\n2021 2 0 2 2 Change (%)\nKOSPI 200 277,346 302,211 +9.0\nMini KOSPI 200 138,536 108,262 A21,9\nKOSDAQ 150 60,437 90,847 +50.3\nKRX 300 542 289 446.7\nF U t\nStock 4,939,181 3,663,603 425.8\n3-year govemment bond 147,873 155,065 +4.,9\n\" 10-year government bond 68,103 64,765 44.9\nUSD 399,672 513,381 +28.5\nYen 1,175 1,337 +13.8\nEuro 3,255 3,235\n40.6\nYuan 15\n17 +13.3\nOthers\") 12,210 22,438 +83.8\nS U 0 - 7 0 O\nKOSPI 2002) 3,089,094 3,363,437 +8.9\nMini KOSPI 200 152,788 153,427 +0.4\nKOSDAQ 150 3,367 2,802 416,8\nStock 79,561 147,982 +86.0\nTotal?) 9,200,557 8,366,760 49.1\n1) Others include sector and volatility, etc.\n2) Including weekly options\n3) Calculated by dividing the yearly trading volume by the number of trading days per year.\nOpen interest\n(number of contracts)\n2021 2022 Change (%)\n292,403 340,799 +16.6\n69,628 80,332 +15.4\n226,539 256,609 +13.3\n768 587 423.6\n6,455,661 4,496,452 430.3\n351,017\n320,425\n48.7\n135,256\n130,949\n43.2\n885,602 849,098 44.1\n8,569 7,781 49.2\n30,348 27,248 410.2\n139 124 410.8\n3.577 10,437 +191.8\n2,111,885 2,472,602 +17.1\n309,991 346,592 +11.8\n3,668 4,380 +19.4\n134,794 330,452 +145.2\n11,001,432 9,640,114 412.4\nPerformance\nby Sector\n* Clearing and Settlement\nThe KRX, as the CCP of the Exchange-traded Securities, Derivatives, and OTC derivatives\nmarkets, has greatly contributed to the stabilization of the Korean capital markets by\nreducing settlement risk. As of 2022, annual settlements in the Exchange-traded\nSecurities Market registered around KRW 691.5829 trillion, offset by 89.3 percent from\nthe annual trading value of KRW 6,439.6900 trillion, and the annual value of settlements\nin the Exchange-traded Derivatives Market registered around KRW 36.5652 trillion, offset\nby 99.8 percent from the annual trading value of KRW 15,141.2364 trillion, demonstrating\nthe KRX's significant contribution to the stable operation of the markets. In addition, the\nscale of clearing and settlement for OTC products has continued to grow since the KRX\nlaunched mandatory OTC clearing services for KRW interest rate swaps in 2014. As a\nresult, in 2022, the registration amount of obligation assumption for KRW interest rate\nswaps recorded KRW 1,200 trillion, and the clearing balance reached KRW 1,838 trillion, a\n5.3 percent increase year-on-year.\n한 국 거 래 소 1 5\n• KRX ANNUAL REPORT 202\nB u s i n e s s P e r f o r m a n c e\nPerformance\nby Sector\nSince the launch of the Clearing Division in April 2021 to strengthen the independence and\nexpertise of clearing and settlement business, the KRX has undertaken various efforts to\nexpand the scope of clearing and settlement services and to enhance the operational\nstability and efficiency of the services. As part of such efforts, the KRX has pushed ahead\nwith the enactment of the \"Clearing Business Regulation\" that incorporates both\nExchange-traded Securities and Derivatives markets, while formulating an integrated\nclearing and settlement system in preparation for the introduction of the ATS. With the\nintroduction of the OTC derivatives compression service, the KRX made the service\navailable twice in the first and second halves of 2022, respectively, and also revamped the\nOTC clearing service system in line with the changes in the global benchmark rates, such\nas the cessation of LIBOR.\nTo enhance the precision of member margin calculation for the securities market, the KRX\nprepared a plan to reform its margin system by introducing a portfolio VaR methodology\nand margin requirements associated with liquidity risk premiums, and established and\noperated a testbed to inspect and evaluate the impacts of new systems in advance. In\naddition, as a CCP, the KRX strengthened the implementation base for credit lines to\nimprove its responsiveness to liquidity shortages, while devising measures to quickly\nliquidate settlement resources and expand additional qualifying liquidity resources,\nthereby improving risk management systems in both exchange-traded and OTC markets to\nensure stable CCP operations. To enhance its ability as a CCP to ensure reliable\nsettlements, the KRX improved its position disposal procedures in both the exchange-traded\nmarkets and the OTC auction framework in the event of defaults. It also has made\nceaseless efforts to enhance its capability as a CCP to respond to critical conditions by\nstrengthening its response capabilities against defaults through the implementation of\ncomprehensive crisis response drills on a regular basis for both exchange-traded and OTC\nmarkets.\nFurthermore, based on the results of external consulting services on the risk management\nmodel verification methodology, the KRX devised a plan to improve its verification system\nand independently conducted a comprehensive model validation test. In line with changes\nin the EU regulatory framework, the KRX obtained recertification as a qualified third-coun-\ntry CCP from ESMA, the EU financial market regulator, while submitting a separate applica-\ntion to the Bank of England for a qualified CCP certification in response to the introduction\nof the UK's own certification process for third-country CCPs in the wake of Brexit.\n5 Commodity Market\nThe average daily trading volume of the KRX petroleum market decreased by 12.8 percent\nfrom the previous year to 22.47 million liters, while the average daily trading value\nincreased by 9.7 percent year-on-year to KRW 36.2 billion. Despite the decrease in trading\n1 6 KRX\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nvolume caused by the Russia-Ukraine War and supply instability, the trading value reached\na record high due to rise in oil prices. In addition, with the aim of creating a more\nmarket-friendly environment, the KRX added products subject to temperature correction,\nwhich are highly popular among participants, while implementing its own incentive system\nto promote competition among various participants.\nThe average daily trading volume and value of the KRX gold market declined year-on-year\nby 28.6 percent and 19.8 percent, respectively, to 81.4 kg and KRW 6.1 bilion. Although\nthe investment demand for gold temporarily contracted due to factors such as the\nincrease in benchmark interest rates and the strong dollar, the KRX pushed for a variety of\nonline and offline promotions and joint marketing with securities companies to broaden\nthe investor base for gold as a safe asset to hedge growing uncertainties in the financial\nmarkets and generate new trading demand. It also sought to expand the market by\nrevising the LP(Liquidity provider) system to ensure proactive liquidity provision and\nenrolling financial investment business entities and precious metal business entities as\nn e w members.\nThe average daily trading volume of the KRX emissions trading market increased by 1.1\npercent year-on-year to 105,428 tons, whereas the average daily trading value decreased\nby 4.8 percent from the previous year to KRW 2.3 billion in the aftermath of the price drop\nin emission permits in the second half of the year. In an effort to increase liquidity and\nensure the stability of supply and demand in the emissions trading market, the KRX\nincreased the holding limit of emission permits held by market makers from the previous 1\nmillion tons to 1.5 million tons and designated two additional securities companies as\nmarket makers. To encourage the participation of securities companies and expand their\npurchasing power, the KRX also raised the holding limit of emission permits in their\nproprietary accounts from the previous 200,000 tons to 500,000 tons. In line with the\nthird phase of South Korea's emissions trading scheme between 2021 and 2025, the KRX\npushed ahead with the development of an overal plan to introduce the brokerage of\nbusiness entities eligible for allocation and individual investors, and a system for business\ncooperation with related organizations, aiming to lay the foundation for the efficient\nimplementation of environmental policies by the government as wel as the qualitative\ngrowth of the market.\nMajor Indicators of the Commodity Market in 2022\nPerformance\nby Sector\nIndicators 2021 2022 Change (%)\nKenatoleum Average daily trading volume (10 thousand liters) 2,576 2.247 Д12.8\nAverage daily trading value (KRW milion) 32,997 36,191 +9.7\nRX gol nark\nAverage daily trading volume (gram) 114,096 81,409 Д 28.6\nAverage daily trading value (KRW milion) 7,588 6,085 Д 19.8\nEmissions trading\nm a r k e t\nAverage daily trading volume (ton) 104,313 105,428 +1.1\nAverage daily trading value (KRW million) 2,441 2,323 14.8\n한 국 거 래 소\nO R E A E X C H A N G 1 7\n1 KRX ANNUAL REPORT 202\nBusiness Performance\nPerformance\nby Sector\nM a r k e t Oversight\nIn terms of market oversight, the KRX performs autonomous regulatory duties including\nthe prevention of unfair trading, dispute mediation, market surveillance and investigation\nand member inspection, with an aim to foster a culture of sound investment in the capital\nmarket.\nIn recent years, unfair trading has become increasingly complex in its patterns and covert\nthe restoration of fairness and trust in the capital market as a national task in addition to\nspecific measures. In 2022, the Market Oversight Commission strengthened its investor\nprotection activities in line with the government's measures and introduced more\nsophisticated techniques for market oversight through continuous research and\ndevelopment. The KRX also focused on the restoration of investor confidence by\nenhancing its capabilities to respond to emerging forms of unfair trading, while bolstering\nits monitoring and inspection of short-selling activities.\nThe following section describes major achievements in the market oversight sector in\n2022.\nFirst, the Market Oversight Commission strengthened its prevention capabilities to\nblock unfair transactions proactively. As the scale of unfair transactions expands, the\nprevention of such unfair trading is becoming increasingly important, as well as their\npost-detection handling. In 2022, the KRX overhauled the Market Oversight Commission's\nsystems for requesting preventive measures with a view to intensifying the prevention\neffect. With respect to accounts that showed habitual and repetitive unhealthy trading\npatterns, the KRX strengthened its preventive actions to ensure that such accounts are\nnot used for further illegal trading, and cooperated with the financial authorities to\nestablish restrictions on the participation of unfair traders in the capital market. In recent\nyears, market volatility has escalated noticeably due to COVID-19 and the Russia-Ukraine\nWar. As a result, the trading volume of the domestic stock market has increased\nsignificantly, and market participants have become more diversified. In order to respond to\nSecond, the KRX strengthened support for listed companies to voluntarily establish an\nnaterial nonpublic information (MNPI). It also established a new integrated website that\nprovides various internal control support services for listed companies, including unfai\n1 8 K R X\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nThird, the KRX is continuously enhancing its market oversight capability to prevent and\nJetect unfair trading practices. In 2022, the KRX improved its detection system to\nintensively screen stocks and accounts with a high likelihood of unfair trading, while\nPerformance\nby Sector\nissues to enhance the effectiveness of bringing investor attention to issues with\nabnormally soaring prices. The KRX ensured market integrity by conducting intensive\nplanned monitoring on stocks that areassociated with social issues, such as\npolitically-themed stocks and corporate-linked fraudulent transactions. Furthermore, in\nline with the increasing proportion of algorithmic trading in the domestic financial market,\nthe KRX upgraded its high-frequency algorithmic analysis tool to actively respond to the\npossibility of algorithm-based unfair trading.\nFourth, the KRX conducted intensive and planned investigations to identify cases that\ncould become social issues at an early stage and promptly notify relevant parties upon\ndetecting any suspected cases. In particular, as the number of fraudulent transactions\ninvolving investment funds sharply increased, the KRX analyzed the status of investment\nfunds engaging in listed companies and derived important investigation points, based on\nwhich the KRX conducted preemptive planned investigations into stock issues involving\ninvestment funds. Furthermore, the KRX refined its investigation analysis tools to\neffectively prove allegations of unfair transactions by improving the system for analyzing\nabnormal quotes, as well as the calculation methodology for estimating trading profits\nThe KRX has also dedicated efforts to fostering expert investigators by sharing bes\npractices of investigations and offering training programs to investigative personnel.\nFifth, the KRX enhanced the intraday process of its monitoring and detecting system for\nshort-selling. As part of such efforts, the KRX established a surveillance system to monitor\nillicit short-selling at al times, not only by the exchange but also by the member companies\nthemselves, through the development and operation of an \"intraday automatic alarm\nsystem,\" allowing suspected short-selling abnormalities to also be reported to each\nmember company's system in real time upon their detection in the exchange system. The\nKRX also improved the current short-selling monitoring process to systematize a series of\nprocesses including the selection of targets subject to inspection and the submission of\ntheir balance information. In addition, the KRX laid a more systematic foundation for\nshort-selling monitoring by creating the \"Short-Selling Practice Guidelines,\" which\nsummarizes practical cases accumulated through short-selling inspection, as well as\ninstructions for determining suspected cases.\nThe Market Oversight Commission has been making various efforts to establish fairness\nand trust in the market. The KRX has revamped the entire market oversight process,\ncreating a more systematic system for proactive prevention and reactive detection. In\naddition, it has worked to promote a self-regulatory environment that encourages market\nparticipants to actively engage in preventing unfair trading practices, by increasing the\nnember companies' autonomy in monitoring and urging listed companies to strengther\n¡heir internal controls voluntarily. The market oversight division of the KRX will continue to\nclosely coordinate with relevant organizations, including the financial authorities, in order\nto thoroughly address unfair trading in the capital market.\n한 국 거 래 소 1 9\n1 KRX ANNUAL REPORT 202\nBusiness Performance\nPerformance\nby Sector\nIndicators 2021 2022 Change(%)\nMa order\nMarket alerts 2,542 A 2 0 . 4\nMate roaring A 3 1 . 6\nPreventive measures? Trading suspensions 6,496 57\nA 1 5 . 6\nStocks on watchis?) 194 121 437.6\nInvestigations 170 176 +3.5\nNotifications to FSC 109 105 A3.7\nInvestigation Fraud 10 2 +120.0\n(no. of cases) Market Manipulation 18 +38.5\nUndisclosed 56 스 2 7 3\nOthers 9\nNo. of inspections on spots and derivatives 119 +24.0\nMember inspection No. of inspections on short seling\"\n(no. of cases) | Disciplinary actions on spots and derivatives *)\n598 465.5\n46\n119.6\nDisciplinary actions on short-selling) 13 +62.5\nMajor Indicators of Market Oversight in 2022\n8 1 % 6 u E\n跳 K ⽐ a n\nL E\n1) Includes the spot market (KOSPI, KOSDAQ) and the derivatives market.\n2) In-depth analysis of prices, trade volume, trading paterns and other information to determine referal for investigation.\n3) Changes in the criteria for counting the number of inspections on short-seling\n(before: by account/issue/date → after: by member company)\n4) Caution/warning, demand for improvement, disciplinary fines (member disciplinary fines, summary penalties), etc.\n• Global Business\nThe KRX has strived to improve its business management system to solidify the\nCooperation Agency (KOICA) and international organizations such as the European Bank\nfor Reconstruction and Development (EBRD). Such projects have presented opportunities\nfor the KRX to expand the Korean capital market model abroad and to promote KRX IT\nexport business.\nThe Korea Exchange, as a leading capital market in Asia, serves as a director of WFE (World\nFederation of Exchanges) and the chair of AOSEF (Asian and Oceanian Stock Exchange:\nFederation), contributing to the policy-making and stable operation of global capita\n2 0 K R X\nBUSINESS REPORT\nFINANCIAL REPORT AUDIT REPORT\n•\nBusiness Performance\nThe Korea Exchange closely collaborate with international organizations such as UN SE\n(United Nations Sustainable Stock Exchanges), UN Global Compact, IFC, and UN Women to\nsupport and promote the UN's SDGs (Sustainable Development Goals) through sustainable\nfinance. Furthermore, the Korea Exchange has established strategic cooperation with\nforeign governments and exchanges by signing MOUs on capital market developments,\naiming to secure future growth engines. It has also formed a bilateral strategic partnership\nwith China to promote the capital market linkage between Korea and China.\nPerformance\nby Sector\n8 Sustainable Management\nSustainable management has become more important than ever as an essential\ncomponent of future business strategies, beyond simply comprising an aspect of corporate\nsocial responsibility. The KRX is not only faithfully fulfilling its duties towards the capital\nmarket but carrying out various activities to achieve sustainable management as a social\nenterprise.\nThe KRX ensures transparency in its corporate governance by independently forming and\noperating its board of directors and posting board minutes and shareholder meeting\nresults on its website. In addition, it voluntarily announces important management issues\non its website to enhance transparency and bridge the information gap of stakeholders.\nTo promote socially responsible investment as the capital market operator, the KRX has\nbeen announcing a series of Environmental, Social and Governance (ESG) indices\ncomprised of stocks representing the three sectors, and as of 2022, it has released 11 ESG\nindices. In order to support the expansion of sustainable management among listed\ncompanies, the KRX established the guidelines on ESG information disclosure in 2021, and\nit has been constantly reinforcing the responsibility of listed companies to publicly disclose\ninformation. To enhance investor convenience, the KRX also launched an ESG information\nplatform that provides a one-stop service for the ESG information of listed companies,\nthereby contributing to heightened awareness toward ESG in the economic and social\nsectors. Through the KRX Happy Foundation established in 2011, the KRX has been\ncarrying out social contribution activities in a broad range of sectors from financial\neducation and human resource development to social welfare and overseas cooperation.\nThe KRX will make ceaseless efforts to take the lead in promoting sustainable\nmanagement and establishing the ESG investment culture in Korea.\n9 Information Business and IT\nIn the index business sector, the KRX is striving to improve the competitiveness of the\nindex business by expanding the scope of the business and diversifying revenue streams.\nAs part of these efforts, the KRX developed the KRX/S&P ESG Dividend Opportunities\n국 거 래 2 1\n• KRX ANNUAL REPORT 202\nB u s i n e s s P e r f o r m a n c e\nPerformance\nby Sector\nIndex in cooperation with overseas index providers, and released four KRX FactSet\nThematic Indices to support the development of new businesses for future growth. It also\nnewly launched four leveraged or inversed futures indices calculated by TWAP method for\nmarket representative futures to enhance the vitality of the ETN market and meet the\nliverse investment needs of investors based on individual investment propensity.\nddition, the KRX developed two KRX REITs Top 10 Indices to pursue stable divider\nincome in response to the high interest rate and inflationary environment, as well as the\nKRX Gold Spot Leverage Index to meet investment needs for safe assets and reinvigorate\nthe domestic gold market. The KRX also commissioned an external audit to evaluate\nauditing agency, certifying that the KRX operates an index management system in\nconsistent with the international standards. Furthermore, it improved the stability and\nefficiency of index management by standardizing index calculation methods and\nexpanding the scope of automation for index maintenance actions. As a result, 65 new\ncontracts were concluded in 2 0 2 2 and ETPs worth KRW 9 7 0 billion were listed (as of the\nend of December 2022), contributing the advancement of the capital market and\nrevitalization of the ETP market.\nIn the information sector, the KRX improved its information usage policy to meet global\nstandards with the aim of enhancing customer convenience in the use of market quote\ninformation. The KRX established new information usage licenses for financial products\nfor trading, such as contracts for difference, which is a new product area, and signed\ncontracts with 13 financial investment companies. It also offered a revised pricing system\nfor information products for the purpose of non-display use to reflect customer needs and\nusage status in line with global standards. In addition, as a result of its continuous\nmarketing efforts to expand the basis for sales of market quote information, the KRX saw\na 20.9-percent increase in overseas sales from the previous year. Accordingly, the share of\noverseas sales in total sales rose by 6.1 percentage points year-on-year to 43.5 percent,\nsignificantly bolstering the stability of information business revenue. Meanwhile, in a bid\nto improve overseas investors' access to capital market information in Korea, it launched\nEnglish-language services for the Market Data System, which provides a one-stop search\nanalysis information products. It also established a user-centric data distribution channe\ny providing API services for market quote and stock information at no cost to the publi\nThrough the KRX Financial Big Data Idea Contest, it discovered new data content and\nservices and promoted the value of the data that it produces and sells to general investors,\nthereby broadening the basis for sales of market data.\nIn the IT sector, the KRX endeavored to create a stable trading system environment by\nimplementing timely reflections of changes in the market system, such as reinforcing the\ndesignation system for overheated short-selling issues and opening the KOSPI 200\n2 2 KRX\nBUSINESS REPORT FINANCIAL REPORT AUDIT REPORT\nBusiness Performance\nrespond to cybersecurity threats by jointly conducting security incident response drills Performance\nby Sector\nenvironment by providing advanced market-level risk management measures for\nhigh-speed algorithmic traders.\nThe KRX will make ceaseless efforts to provide a stable investment environment and\nachieve the qualitative growth of the Korean capital market through continuous\ninvestment and technological innovation in its IT infrastructure.\n한 국 거 래 소 2 3\n• KRX ANNUAL REPORT 202\nB u s i n e s s P e r f o r m a n c e a n d\nFinancial P o s i t i o n i n t h e P a s t T h r e e Ye a r s\nBusines\nPerformance\n(Summary of\nStatement of\nIncome)\n(Unit: KRW 100 milion)\nA c c o u n t s 2022 2021 2 0 2 0\nI . Operating revenue 5,906 7,428 4,969\nOperating profit & loss\nNon-operating\nI . Operating expenses 3,282 3,391 2,990\nI. Operating income 2,624 4,037 1,979\nIV. Other income 751 399 319\nV. Other expenses 187 1,207 572\nprofit & loss\nVI. Financial income 1,424 1,225 1,476\nVI. Financial expenses 1,852 658 821\nVI. Profit before tax 2,760 3,796 2,381\nIX. Income tax expense (254) 1,006 604\nX. Profit for the year 3,014 2,790 1,777\n*Prepared in accordance with K-IFRS\n(Unit: KRW 10 milion)\nFinancial\nPosition\n(Summary of\nStatement of\nFinancial\nPosition)\nAccounts 2022 2021 2020\nI. Current assets 57,081 59,145 22,142\n62,577\nI. Non-current assets 23,634\n20,687\nTotal assets 80,715 81,287 83,264\nI . Current liabilities 1,701 2,045 1,710\nI. Non-current liabilities 49,347 51,746 56,424\nTotal liabilities 51,048 53,791 58,134\nI . Contributed capital 2,996 2,996 2,996\nI. Retained earnings 25,437 23,385 21,282\nII. Other equity elements 1,234 1,115 852\nTotal equity 29,667 27,496 25,130\n*Prepared in accordance with K-IFRS\n2 4 KRX\nBUSINESS REPORT\nFINANCIAL REPORT AUDIT REPORT\n•\nUpcoming Challenges\nPlease se t h e Mesage from the ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_cash_flow",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "No cash flow given, but the current and prior cash balances:\n Cash and cash equivalents 4,904,286,117,436, prior year: 5,186,952,508,248 ",
      "golden_context": "Page 38:\n\n Cash and cash equivalents 4,904,286,117,436 5,186,952,508,248 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_company_type",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form explicitly given.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_key_financials",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "645.4bn in operating revenue, profit: 325.8bn",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview In 2023, the KRX posted KRW 645.4 billion in operating revenue, up KRW 54.8 billion (9.3\npercent) from the previous year, due to the increase in its trading fee revenue. Its profit\nincreased by KRW 24.4 billion (8.1 percent) from a year earlier to KRW 325.8 billion, as its\nnon-operating revenue also rose as a result of greater fund management revenue caused\nby rising stock prices and interest rates.\nPerformance\nby Sector\n• KOSPI Market\nThe KOSPI Market Division opens and operates not only the KOSPI Market but also the\nexchange-traded bond market for government, municipal, and corporate bonds and the\nsecuritized product market for ETFs, ENs, and ELWs.\nThe stock market showed a robust recovery as the Korea Composite Stock Price Index\n(KOSPI) ended its final trading session in 2023 at 2,655 points, up 18.7 percent from the\nprevious year, while the market capitalization of KOSPI reached KRW 2,126 trillion, up\n20.3 percent year-on-year. The average daily trading value, an indicator of the stock\nmarket's vitality, amounted to KRW 9.6 trillion, up 6.7 percent year-on-year. With respect\nto the stock market, in 2023, the KRX implemented the following tasks with a focus on\nimproving the fundamental structure of the domestic stock market for its rebound.\nFirst, the KRX continued its efforts to strengthen market competitiveness to respond to\nthe new competitive environment, including the launch of the Alternative Trading System",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_revenue",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "645.4bn in operating revenue",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview In 2023, the KRX posted KRW 645.4 billion in operating revenue, up KRW 54.8 billion (9.3\npercent) from the previous year, due to the increase in its trading fee revenue. Its profit\nincreased by KRW 24.4 billion (8.1 percent) from a year earlier to KRW 325.8 billion, as its\nnon-operating revenue also rose as a result of greater fund management revenue caused\nby rising stock prices and interest rates.\nPerformance\nby Sector\n• KOSPI Market\nThe KOSPI Market Division opens and operates not only the KOSPI Market but also the\nexchange-traded bond market for government, municipal, and corporate bonds and the\nsecuritized product market for ETFs, ENs, and ELWs.\nThe stock market showed a robust recovery as the Korea Composite Stock Price Index\n(KOSPI) ended its final trading session in 2023 at 2,655 points, up 18.7 percent from the\nprevious year, while the market capitalization of KOSPI reached KRW 2,126 trillion, up\n20.3 percent year-on-year. The average daily trading value, an indicator of the stock\nmarket's vitality, amounted to KRW 9.6 trillion, up 6.7 percent year-on-year. With respect\nto the stock market, in 2023, the KRX implemented the following tasks with a focus on\nimproving the fundamental structure of the domestic stock market for its rebound.\nFirst, the KRX continued its efforts to strengthen market competitiveness to respond to\nthe new competitive environment, including the launch of the Alternative Trading System",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_revenue_growth",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "9.3% growth",
      "golden_context": "Page 10:\n\nBusiness Performance\nOverview In 2023, the KRX posted KRW 645.4 billion in operating revenue, up KRW 54.8 billion (9.3\npercent) from the previous year, due to the increase in its trading fee revenue. Its profit\nincreased by KRW 24.4 billion (8.1 percent) from a year earlier to KRW 325.8 billion, as its\nnon-operating revenue also rose as a result of greater fund management revenue caused\nby rising stock prices and interest rates.\nPerformance\nby Sector\n• KOSPI Market\nThe KOSPI Market Division opens and operates not only the KOSPI Market but also the\nexchange-traded bond market for government, municipal, and corporate bonds and the\nsecuritized product market for ETFs, ENs, and ELWs.\nThe stock market showed a robust recovery as the Korea Composite Stock Price Index\n(KOSPI) ended its final trading session in 2023 at 2,655 points, up 18.7 percent from the\nprevious year, while the market capitalization of KOSPI reached KRW 2,126 trillion, up\n20.3 percent year-on-year. The average daily trading value, an indicator of the stock\nmarket's vitality, amounted to KRW 9.6 trillion, up 6.7 percent year-on-year. With respect\nto the stock market, in 2023, the KRX implemented the following tasks with a focus on\nimproving the fundamental structure of the domestic stock market for its rebound.\nFirst, the KRX continued its efforts to strengthen market competitiveness to respond to\nthe new competitive environment, including the launch of the Alternative Trading System",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000483_segments",
      "report_id": "ID_000483",
      "company_name": "Korea Exchange",
      "year": 2023,
      "country": "KR",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "KOSPI Market, KOSDAQ Market, Derivatives Market, Clearing and Settlement, Commodity Market, Market Oversight, Global Business, Sustainable Management, Information Business and IT",
      "golden_context": "Page 11-30 (context to long to fully insert here):\n\n• KOSPI Market\nThe KOSPI Market Division opens and operates not only the KOSPI Market but also the\nexchan\n\n@ KOSDAQ Market\nThe KOSDAQ market closed 2023 at 866.57 points, up 27.5 percent from the end of the\nprevious year. Th\n\nD e r i v a t i v e s Market\nThe average daily tradin\n\n* Clearing and Settlement\nThe KRX, as the CCP for the\n\nFund deposits\nTotal\n23,040 25,819 +121\n5 Commodity Market\nThe average daily trading volume of the KRX petroleum market increased by 2.0 percent\nfrom the previous year to 22.93 milion liters, while the average daily trading value\ndecreased by 10.7 percent year-on-year to KRW 32.3 billion due to fuel tax cuts.\nConsidering that market participants are limited to oil business operators and that the KRX\npetroleum market is\n\n© Market Oversight\nIn terms of market oversight, the KRX performs autonomous regulatory duties including\nthe prevention of\n\nNotice of attention/waming demand for improvement, disciplinary fines (member disciplinary fines, summary penalties), etc.\n• Global Business\nThe KRX has strived to improve its business management system to solidify the\nsoundness of its global system export business, which it has been carrying out for the past\n15 years. Through these efforts, the KRX sought to increase sales and reduce risks in its\nsystem export business, and successfully renewed its maintenance service contracts\n(with Thailand, Malaysi\n\necure future growth engines. Furthermore, to support and promote the UN SDGs\nPerformance by Sector\nspeaker and attending the 28th Conference of the Parties to the UN Framework\nConvention on Climate Change (COP28) in December 2023.\n8 Sustainable Management\nSustainable management has become more important than ever as an essential\ncomponent of future business strategies, beyond simply comprising an aspect of corporate\nsocial responsibility. As a capital ma\n\nsustainable management and establishing the ESG investment culture in Korea\n9 Information Business and IT\nIn the index business sector, the KRX is striving ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_cash_flow",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 65105448m, investing: -33047763m, financing: -23991033m",
      "golden_context": "Page 63-64:\n\nSamsung Electronics Co., Ltd. and its subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions of Korean won, in thousands of US dollars (Note 2.29))\nFor the years ended December 31,\nNotes 2021 2020 2021 2020\nKRW KRW USD USD\nOperating activities\nProfit for the year Adjustments 39,907,450 26,407,832 34,881,111 23,081,768\n27 49,055,633 41,618,554 42,877,081 36,376,702\nChanges in assets and liabilities arising\nfrom operating activities 27 (16,286,884) 122,424 (14,235,553) 107,005\nCash generated from operations Interest received Interest paid Dividends received Income tax paid 72,676,199 68,148,810 63,522,639 59,565,475\n1,406,706 2,220,209 1,229,532 1,940,574\n(434,441) (555,321) (379,723) (485,378)\n299,033 243,666 261,370 212,976\n(8,842,049) (4,770,355) (7,728,394) (4,169,530)\nNet cash from operating activities 65,105,448 65,287,009 56,905,424 57,064,117\nInvesting activities\nNet decrease (increase) in short-term financial instruments 10,917,128 (20,369,616) 9,542,117 (17,804,065)\nNet decrease (increase) in short-term financial assets\nat amortized cost (336,959) 184,104 (294,519) 160,916\nNet decrease in short-term financial assets at fair value\nthrough profit or loss 30,694 1,704,512 26,828 1,489,829\nDisposal of long-term financial instruments 10,216,082 12,184,301 8,929,368 10,649,690\nAcquisition of long-term financial instruments (6,981,810) (8,019,263) (6,102,452) (7,009,238)\nDisposal of financial assets at amortized cost - 1,023,117 - 894,256\nDisposal of financial assets at fair value\nthrough other comprehensive income 2,919,888 32,128 2,552,128 28,081\nAcquisition of financial assets at fair value\nthrough other comprehensive income (1,121,201) (245,497) (979,986) (214,577)\nDisposal of financial assets at fair value through profit or loss 350,212 39,746 306,103 34,740\nAcquisition of financial assets at fair value\nthrough profit or loss (208,262) (84,184) (182,031) (73,581)\nDisposal of investment in associates and joint ventures 19,169 - 16,755 -\nAcquisition of investment in associates and joint ventures (47,090) (83,280) (41,159) (72,791)\nDisposal of property, plant and equipment 358,284 376,744 313,158 329,293\nAcquisition of property, plant and equipment (47,122,106) (37,592,034) (41,187,082) (32,857,321)\nDisposal of intangible assets 1,752 7,027 1,531 6,142\nAcquisition of intangible assets (2,706,915) (2,679,779) (2,365,979) (2,342,261)\nCash outflow from business combinations (5,926) (49,420) (5,180) (43,196)\nCash inflow from sale of assets-held-for-sale 661,168 - 577,894 -\nCash inflow (outflow) from other investing activities 8,129 (57,197) 7,105 (49,993)\nNet cash used in investing activities (33,047,763) (53,628,591) (28,885,401) (46,874,076)\nThe above consolidated statements of cash flows should be read in conjunction with the accompanying notes.\nSamsung Electronics Business Report 63 / 386\nSamsung Electronics Co., Ltd. and its subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions of Korean won, in thousands of US dollars (Note 2.29))\nNotes For the years ended December 31,\n2021 2020 2021 2020\nKRW KRW USD USD\nFinancing activities\nNet increase(decrease) in short-term borrowings 27 (2,616,943) 2,191,186 (2,287,339) 1,915,206\nIncrease in long-term borrowings 27 58,279 14,495 50,939 12,669\nRepayment of debentures and long-term borrowings 27 (894,749) (864,947) (782,055) (756,007)\nDividends paid (20,510,350) (9,676,760) (17,927,074) (8,457,973)\nNet decrease (increase) in non-controlling interests (27,270) 8,187 (23,835) 7,156\nNet cash used in financing activities (23,991,033) (8,327,839) (20,969,364) (7,278,949)\nReclassification to assets held-for-sale 32 139 (139) 121 (121)\nEffect of foreign exchange rate changes 1,582,046 (833,861) 1,382,787 (728,836)\nNet increase (decrease) in cash and cash equivalents 9,648,837 2,496,579 8,433,567 2,182,135\nCash and cash equivalents\nBeginning of the year 29,382,578 26,885,999 25,681,845 23,499,710\nEnd of the year 39,031,415 29,382,578 34,115,412 25,681,845\nThe above consolidated statements of cash flows should be read in conjunction with the accompanying notes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_company_type",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nSAMSUNG ELECTRONICS Co., Ltd.\n2021 Business Report\nFor the year ended December 31, 2021\nCertain statements in the document, other than purely historical information, including estimates, projections, statements relating to our business\nplans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.”\nForward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual\nresults to differ materially from the forward-looking statements. A detailed discussion of risks and uncertainties that could cause actual results and\nevents to differ materially from such forward-looking statements is included in our financial reports available on our website.\nSee, also, 『Note on Forward-Looking Statements』 in preamble of 『IV. Management Discussion and Analysis 』",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_key_financials",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Operating profit 51,633.9bn\nRevenue 279604.8bn",
      "golden_context": "  Jan-Dec 2021                                                                                                                                                                                                                   \n  Jan-Dec 2020                                                                                                                                                                                                                   \n  Revenue                                                                                                                                                                                                                        \n  279,604,799                                                                                                                                                                                                                    \n  236,806,988                                                                                                                                                                                                                    \n  Operating profit                                                                                                                                                                                                               \n  51,633,856                                                                                                                                                                                                                     \n  35,993,876                                                                                                                                                                                                                     \n  Profit for the period                                                                                                                                                                                                          \n  39,907,450                                                                                                                                                                                                                     \n  26,407,832                                                                                                                                                                                                                     \n  - Owners of the parent company                                                                                                                                                                                                 \n  39,243,791                                                                                                                                                                                                                     \n  26,090,846                                                                                                                                                                                                                     \n  - Non-controlling interests                                                                                                                                                                                                    \n  663,659                                                                                                                                                                                                                        \n  316,986                                                                                                                                                                                                                        \n  Basic earnings per share (KRW)                                                                                                                                                                                                 \n  5,777                                                                                                                                                                                                                          \n  Diluted earnings per share (KRW)                                                                                                                                                                                               \n  5,777                                                                                                                                                                                                                          \n  3,841                                                                                                                                                                                                                          \n  3,841                                                                                                                                                                                                                          \n  Data shown in conformity with K-IFRS.  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_revenue",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue 279604.8bn",
      "golden_context": "Page 23:\n\n☞ See 『1. Subsidiaries subject to consolidated accounting (detailed)』 in 『XII. Appendix』 for more details about\nsubsidiaries.\nThe Company recorded total revenue of KRW 279,604.8 billion as of end year, an increase of 18.1% year-on-year. Major\ncustomers (listed in alphabetical order) included Apple, Best Buy, Deutsche Telekom, Supreme Electronics and Verizon.\n2. Key products and services\nA. Revenue\nSEC is involved in the production and sales of finished products, including TVs, refrigerators, washers, air conditioners,\nHHPs and components such as semiconductors (DRAM, NAND Flash, mobile APs) and display panels. Through Harman,\nthe Company also produces and sells products such as digital cockpits and telematics.\nIn 2021, CE reported revenue of KRW 55,832.4 billion (20% of total net sales) and IM reported revenue of KRW\n109,251.4 billion (39.1%). DS contributed approximately 44.7% of revenue, reporting KRW 94,158.6 billion (33.7%) by\nSemiconductor business and 31,712.5 billion (11.3%) by DP business. The Harman Division reported net sales of KRW\n10,039.9 billion (3.6%).\n(KRW 100 mil)\nDivision Major products Revenue Portion\nCE TVs, monitors, refrigerators, washing machines, air conditioners, etc. 558,324 20.0%\nIM HHPs, network systems, computers, etc. 1,092,514 39.1%\nDS\nSemiconductor DRAM, NAND flash, mobile APs, etc. 941,586 33.7%\nDP OLED smartphone panels, LCD TV panels, LCD monitor panels, etc. 317,125 11.3%\nOthers Overlapping internal transactions within Division -7,821 -0.3%\nDS total 1,250,890 44.7%\nHarman Digital cockpit, telematics, speakers, etc. 100,399 3.6%\nOthers Overlapping internal transactions between Divisions -206,079 -7.4%\nTotal 2,796,048 100.0%\nIncludes inter-divisional transactions.\n☞ See 『4. Sales and long-term contracts』 for sales by each product.\nB. Average selling price changes\nIn 2021, the ASP of TVs increased approximately 32% and that of HHPs increased approximately 6% year-on-year. The\nASP of memory products fell by approximately 3% year-on-year, and display panel (OLED panels for smartphones) ASP\ndecreased approximately 4%. The ASP of digital cockpits declined approximately 7% year-on-year.\n3. Production materials and production facilities\nA. Key production materials\nFor the CE Division, key materials include display panels, which are supplied by CSOT and other companies. For the IM\nDivision, key materials include camera modules and mobile AP, which are supplied by Semco, Qualcomm and others. For\nthe DS Division, key materials include Wafer, chemicals, FPCAs, windows with suppliers including SK Siltron, Soulbrain,\nBH, Apple, etc. For the Harman division, key materials include SoC (syste",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_revenue_growth",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "growth of 18.1%",
      "golden_context": "Page 23:\n\n☞ See 『1. Subsidiaries subject to consolidated accounting (detailed)』 in 『XII. Appendix』 for more details about\nsubsidiaries.\nThe Company recorded total revenue of KRW 279,604.8 billion as of end year, an increase of 18.1% year-on-year. Major\ncustomers (listed in alphabetical order) included Apple, Best Buy, Deutsche Telekom, Supreme Electronics and Verizon.\n2. Key products and services\nA. Revenue\nSEC is involved in the production and sales of finished products, including TVs, refrigerators, washers, air conditioners,\nHHPs and components such as semiconductors (DRAM, NAND Flash, mobile APs) and display panels. Through Harman,\nthe Company also produces and sells products such as digital cockpits and telematics.\nIn 2021, CE reported revenue of KRW 55,832.4 billion (20% of total net sales) and IM reported revenue of KRW\n109,251.4 billion (39.1%). DS contributed approximately 44.7% of revenue, reporting KRW 94,158.6 billion (33.7%) by\nSemiconductor business and 31,712.5 billion (11.3%) by DP business. The Harman Division reported net sales of KRW\n10,039.9 billion (3.6%).\n(KRW 100 mil)\nDivision Major products Revenue Portion\nCE TVs, monitors, refrigerators, washing machines, air conditioners, etc. 558,324 20.0%\nIM HHPs, network systems, computers, etc. 1,092,514 39.1%\nDS\nSemiconductor DRAM, NAND flash, mobile APs, etc. 941,586 33.7%\nDP OLED smartphone panels, LCD TV panels, LCD monitor panels, etc. 317,125 11.3%\nOthers Overlapping internal transactions within Division -7,821 -0.3%\nDS total 1,250,890 44.7%\nHarman Digital cockpit, telematics, speakers, etc. 100,399 3.6%\nOthers Overlapping internal transactions between Divisions -206,079 -7.4%\nTotal 2,796,048 100.0%\nIncludes inter-divisional transactions.\n☞ See 『4. Sales and long-term contracts』 for sales by each product.\nB. Average selling price changes\nIn 2021, the ASP of TVs increased approximately 32% and that of HHPs increased approximately 6% year-on-year. The\nASP of memory products fell by approximately 3% year-on-year, and display panel (OLED panels for smartphones) ASP\ndecreased approximately 4%. The ASP of digital cockpits declined approximately 7% year-on-year.\n3. Production materials and production facilities\nA. Key production materials\nFor the CE Division, key materials include display panels, which are supplied by CSOT and other companies. For the IM\nDivision, key materials include camera modules and mobile AP, which are supplied by Semco, Qualcomm and others. For\nthe DS Division, key materials include Wafer, chemicals, FPCAs, windows with suppliers including SK Siltron, Soulbrain,\nBH, Apple, etc. For the Harman division, key materials include SoC (syste",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000484_segments",
      "report_id": "ID_000484",
      "company_name": "Samsung",
      "year": 2021,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "As of the reporting date, the operating segments are comprised of CE, IM, DS (Semiconductor\nand DP), Harman, and others.",
      "golden_context": "Page 136:\n\n29. Segment Information\n(A) Operating segment information\nThe chief operating decision-maker has been identified as the Management Committee. The Company determines operating\nsegments based on the units reported to the Management Committee. The Management Committee reviews the operating profits of\neach operating segment in order to assess the performance and to make strategic decisions regarding the allocation of resources to\nthe segments.\nSales revenue consists mostly of product sales. The operating segments are product-based and are identified based on the internal\norganization and revenue streams. As of the reporting date, the operating segments are comprised of CE, IM, DS (Semiconductor\nand DP), Harman, and others.\nThe segment information for each reporting period is prepared after allocating the intercompany reconciliations to depreciation,\namortization of intangible assets and operating profits. Total assets and liabilities of each operating segment are excluded from the\ndisclosure as these have not been provided regularly to the Management Committee.\n(1) For the year ended December 31, 2021\nDS\n(In millions of\nKorean won) CE IM\nTotal1\nSemi-\nconductor DP\nHarman Total1\nNet revenue 55,832,435 109,251,383 125,089,024 94,158,569 31,712,526 10,039,922 279,604,799\nDepreciation 668,356 739,774 28,353,128 22,826,329 5,504,216 311,237 31,285,209\nAmortization 74,182 1,264,152 1,179,743 930,002 239,821 229,772 2,962,152\nOperating profit 3,645,721 13,647,575 33,734,199 29,199,292 4,457,365 599,097 51,633,856\n(2) 1 Other operating segments are not separately disclosed.\nFor the year ended December 31, 2020\nDS\n(In millions of\nKorean won) CE IM\nTotal1\nSemi-\nconductor DP\nHarman Total1\nNet revenue 48,173,324 99,587,493 103,036,146 72,857,803 30,585,715 9,183,748 236,806,988\nDepreciation 582,929 855,573 24,330,737 18,124,847 6,183,077 264,928 27,115,735\nAmortization 76,270 1,394,396 1,321,305 1,053,892 257,446 233,518 3,219,881\nOperating profit 3,561,536 11,472,671 21,120,231 18,804,970 2,236,919 55,518 35,993,876\n1 Other operating segments are not separately disclosed.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_cash_flow",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 62181346m, investing: -31602804m, financing: -19390049m",
      "golden_context": "Page 62-63:\n\nSamsung Electronics Co., Ltd. and its subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions of Korean won, in thousands of US dollars (Note 2.29))\nFor the years ended December 31,\nNotes 2022 2021 2022 2021\nKRW KRW USD USD\nOperating activities\nProfit for the year Adjustments Changes in assets and liabilities arising\nfrom operating activities 55,654,077 39,907,450 43,104,320 30,908,490\n27 33,073,439 49,055,633 25,615,519 37,993,797\n27 (16,998,948) (16,286,884) (13,165,758) (12,614,262)\nCash generated from operations Interest received Interest paid Dividends received Income tax paid 71,728,568 72,676,199 55,554,081 56,288,025\n2,136,795 1,406,706 1,654,957 1,089,500\n(714,543) (434,441) (553,417) (336,476)\n529,421 299,033 410,039 231,602\n(11,498,895) (8,842,049) (8,905,943) (6,848,204)\nNet cash from operating activities 62,181,346 65,105,448 48,159,717 50,424,447\nInvesting activities\nNet decrease in short-term financial instruments 15,214,321 10,917,128 11,783,556 8,455,362\nNet decrease (increase) in short-term financial assets\nat amortized cost 3,050,104 (336,959) 2,362,319 (260,976)\nNet decrease in short-term financial assets at fair value\nthrough profit or loss 11,677 30,694 9,044 23,773\nDisposal of long-term financial instruments 8,272,909 10,216,082 6,407,403 7,912,399\nAcquisition of long-term financial instruments (4,393,754) (6,981,810) (3,402,981) (5,407,442)\nDisposal of financial assets at fair value\nthrough other comprehensive income 496,090 2,919,888 384,224 2,261,466\nAcquisition of financial assets at fair value\nthrough other comprehensive income (37,687) (1,121,201) (29,189) (868,375)\nDisposal of financial assets at fair value through profit or loss 166,315 350,212 128,812 271,241\nAcquisition of financial assets at fair value\nthrough profit or loss (158,244) (208,262) (122,561) (161,300)\nDisposal of investment in associates and joint ventures 13,233 19,169 10,249 14,846\nAcquisition of investment in associates and joint ventures (907,958) (47,090) (703,217) (36,471)\nDisposal of property, plant and equipment 217,878 358,284 168,747 277,492\nAcquisition of property, plant and equipment (49,430,428) (47,122,106) (38,284,077) (36,496,272)\nDisposal of intangible assets 23,462 1,752 18,171 1,357\nAcquisition of intangible assets (3,696,304) (2,706,915) (2,862,803) (2,096,517)\nCash outflow from business combinations (31,383) (5,926) (24,306) (4,590)\nCash inflow from sale of assets-held-for-sale - 661,168 - 512,077\nCash inflow (outflow) from other investing activities (413,035) 8,129 (319,897) 6,296\nNet cash used in investing activities (31,602,804) (33,047,763) (24,476,506) (25,595,633)\nThe above consolidated statements of changes in equity should be read in conjunction with the accompanying notes.\nSamsung Electronics Business Report 62 / 413\nSamsung Electronics Co., Ltd. and its subsidiaries\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In millions of Korean won, in thousands of US dollars (Note 2.29))\nFor the years ended December 31,\nNotes 2022 2021 2022 2021\nKRW KRW USD USD\nFinancing activities\nNet decrease in short-term borrowings 27 (8,339,149) (2,616,943) (6,458,706) (2,026,833)\nIncrease in long-term borrowings 27 271,997 58,279 210,663 45,137\nRepayment of debentures and long-term borrowings 27 (1,508,465) (894,749) (1,168,313) (692,987)\nDividends paid (9,814,426) (20,510,350) (7,601,315) (15,885,353)\nNet decrease in non-controlling interests (6) (27,270) (5) (21,121)\nNet cash used in financing activities (19,390,049) (23,991,033) (15,017,676) (18,581,157)\nReclassification to assets held-for-sale - 139 - 108\nEffect of foreign exchange rate changes (539,198) 1,582,046 (417,611) 1,225,300\nNet increase in cash and cash equivalents 10,649,295 9,648,837 8,247,924 7,473,065\nCash and cash equivalents\nBeginning of the year 39,031,415 29,382,578 30,229,997 22,756,932\nEnd of the year 49,680,710 39,031,415 38,477,921 30,229,997",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_company_type",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nSAMSUNG ELECTRONICS Co., Ltd.\n2022 Business Report\nFor the year ended December 31, 2022",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_key_financials",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 3022314 KRW 100 mil, net income: 55654077 KRW mil",
      "golden_context": "Page 243:\n\nSamsung Electronics’ total assets in 2022 were KRW 448.4245 trillion, an increase of KRW 21.8033 trillion (5.1%) from\nthe previous year. The increase is mainly attributable to inventories, which increased by KRW 10.8035 trillion, and to an\nincrease in tangible assets caused by facility investments worth KRW 18.1168 trillion for the semiconductor and DP\nbusinesses.\nTotal liabilities were KRW 93.6749 trillion, a decrease of KRW 28.0463 trillion (23.0%) from the previous year. This\nincludes a decrease of KRW 9.7723 trillion (11.1%) in current liabilities and a decrease of KRW 18.2740 trillion (54.4%)\nin non-current liabilities. The changes are attributable to the KRW 8.5405 trillion and KRW 18.0869 trillion decreases in\nshort-term borrowings and deferred income tax liabilities, respectively.\nTotal equity was KRW 354.7496 trillion, an increase of KRW 49.8497 trillion (16.3%) from the previous year. Retained\nearnings grew by KRW 44.8816 trillion year-on-year from net income of KRW 54.7300 trillion and dividends of KRW\n9.8094 trillion. Other components of equity increased by KRW 4.0668 trillion due to factors such as the overseas operations\ntranslation difference.\nIn terms of financial ratios, the Company maintained a sound financial structure as the capital adequacy ratio increased by\n7.6%pts from the previous year to 79.1% and the debt-to-equity ratio decreased by 13.5%pts from the previous year to\n26.4%.\nB. Performance\n(KRW mil)\nClassification 2022 2021 Increase/decrease Change\nSales 302,231,360 279,604,799 22,626,561 8.1%\nCost of sales 190,041,770 166,411,342 23,630,428 14.2%\nGross profit 112,189,590 113,193,457 -1,003,867, -0.9%\nSelling and administrative\nexpenses 68,812,960 61,559,601 7,253,359 11.8%\nOperating profit 43,376,630 51,633,856 -8,257,226 -16.0%\nOther income 1,962,071 2,205,695 -243,624 -11.0%\nOther expenses 1,790,176 2,055,971 -265,795 -12.9%\nGain on valuation using the\nequity method of accounting 1,090,643 729,614 361,029 49.5%\nFinancial income 20,828,995 8,543,187 12,285,808 143.8%\nFinancial expenses 19,027,689 7,704,554 11,323,135 147.0%\nIncome before income tax\nexpense 46,440,474 53,351,827 -6,911,353 -13.0%\nIncome tax expense -9,213,603 13,444,377 -22,657,980 -168.5%\nNet income 55,654,077 39,907,450 15,746,627 39.5%\nEquity attributable to owners\nof the parent 54,730,018 39,243,791 15,486,227 39.5%\nNon-controlling interests 924,059 663,659 260,400 39.2%\nPresented in accordance with K-IFRS.\nIf the agenda item related to the approval of financial statements is rejected or adjusted at the AGM, the details will be published in future reports.\nIn 2022, revenue increased year-on-year by KRW 22.6266 trillion (8.1%) to an all-time annual high of KRW 302.2314\ntrillion, driven by expanding sales of premium products, such as Neo QLED TV, Bespoke, and flagship smartphones, as\nSamsung Electronics Business Report 243 / 41",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_revenue",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue: 3022314 KRW 100 mil",
      "golden_context": "Page 22:\n\nts include SSEC (Suzhou) and semiconductor production facilities are located in SCS (Xian) among others.\nThe Company' recorded total revenue of KRW 302,231.4 billion as of the year end, is an increase of 8.1% year-on-year.\nMajor customers (listed in alphabetical order) included Apple, Best Buy, Deutsche Telekom, Qualcomm and Verizon.\n2. Key products and services\nA. Revenue\nSEC is involved in the production and sales of finished products, including TVs, refrigerators, washers, air conditioners,\nHHPs and components such as semiconductors (DRAM, NAND Flash, mobile APs) and display panels. Through Harman,\nthe Company also produces and sells products such as digital cockpits and telematics.\nIn 2022, reported revenue was KRW 182,489.7 billion (60.4% of total net sales) for DX; KRW 98,455.3 billion (32.6%) for\nDS; KRW 34,382.6 billion (11.4%) for SDC; and KRW 13,213.7 billion (4.4%) for Harman.\n(KRW 100 mil)\nOrganization Major products Revenue Portion\nDX Division TVs, monitors, refrigerators, washing machines, air conditioners,\nHHPs, network systems, computers, etc. 1,824,897 60.4%\nDS Division DRAM, NAND flash, mobile APs, etc. 984,553 32.6%\nSDC OLED smartphone panels, etc. 343,826 11.4%\nHarman Digital cockpit, telematics, speakers, etc. 132,137 4.4%\nOthers Overlapping internal transactions between Divisions -263,099 -8.8%\nTotal 3,022,314 100.0%\nIncludes inter-divisional transactions.\n☞ See 『4. Revenue and long-term contracts』 for information by each product.\nB. Average selling price changes\nIn 2022, TV ASP decreased approximately 7% and HHP ASP increased approximately 5% year-on-year. Memory-product\nASP fell approximately 17% year-on-year, and display panel (OLED panels for smartphones) ASP increased approximately\n20%. The ASP of digital cockpits declined approximately 0.5% year-on-year.\n3. Production materials and production facilities\nA. Key production materials\nFor the DX Division, key materials include mobile AP and camera modules, which are supplied by Qualcomm, Semco, etc.,\nand display panels for TVs and monitors, which are supplied by CSOT, etc. For the DS Division, key materials include\nchemicals and wafers, supplied by Soulbrain, SK Siltron, etc., and for SDC, key materials include FPCAs and windows,\nwith suppliers such as BH, Apple, etc. For Harman, key materials include SoC (system-on-chip) products and memory\nproducts for in-vehicle solutions, which are supplied by Nvidia, Arrow, etc.\n(KRW 100 mil)\nOrganization Type of\npurchase Item Specific usage Pu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_revenue_growth",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 3022314 KRW 100 mil, prior year: 279604799 KRW 100 mil",
      "golden_context": "Page 243:\n\nSamsung Electronics’ total assets in 2022 were KRW 448.4245 trillion, an increase of KRW 21.8033 trillion (5.1%) from\nthe previous year. The increase is mainly attributable to inventories, which increased by KRW 10.8035 trillion, and to an\nincrease in tangible assets caused by facility investments worth KRW 18.1168 trillion for the semiconductor and DP\nbusinesses.\nTotal liabilities were KRW 93.6749 trillion, a decrease of KRW 28.0463 trillion (23.0%) from the previous year. This\nincludes a decrease of KRW 9.7723 trillion (11.1%) in current liabilities and a decrease of KRW 18.2740 trillion (54.4%)\nin non-current liabilities. The changes are attributable to the KRW 8.5405 trillion and KRW 18.0869 trillion decreases in\nshort-term borrowings and deferred income tax liabilities, respectively.\nTotal equity was KRW 354.7496 trillion, an increase of KRW 49.8497 trillion (16.3%) from the previous year. Retained\nearnings grew by KRW 44.8816 trillion year-on-year from net income of KRW 54.7300 trillion and dividends of KRW\n9.8094 trillion. Other components of equity increased by KRW 4.0668 trillion due to factors such as the overseas operations\ntranslation difference.\nIn terms of financial ratios, the Company maintained a sound financial structure as the capital adequacy ratio increased by\n7.6%pts from the previous year to 79.1% and the debt-to-equity ratio decreased by 13.5%pts from the previous year to\n26.4%.\nB. Performance\n(KRW mil)\nClassification 2022 2021 Increase/decrease Change\nSales 302,231,360 279,604,799 22,626,561 8.1%\nCost of sales 190,041,770 166,411,342 23,630,428 14.2%\nGross profit 112,189,590 113,193,457 -1,003,867, -0.9%\nSelling and administrative\nexpenses 68,812,960 61,559,601 7,253,359 11.8%\nOperating profit 43,376,630 51,633,856 -8,257,226 -16.0%\nOther income 1,962,071 2,205,695 -243,624 -11.0%\nOther expenses 1,790,176 2,055,971 -265,795 -12.9%\nGain on valuation using the\nequity method of accounting 1,090,643 729,614 361,029 49.5%\nFinancial income 20,828,995 8,543,187 12,285,808 143.8%\nFinancial expenses 19,027,689 7,704,554 11,323,135 147.0%\nIncome before income tax\nexpense 46,440,474 53,351,827 -6,911,353 -13.0%\nIncome tax expense -9,213,603 13,444,377 -22,657,980 -168.5%\nNet income 55,654,077 39,907,450 15,746,627 39.5%\nEquity attributable to owners\nof the parent 54,730,018 39,243,791 15,486,227 39.5%\nNon-controlling interests 924,059 663,659 260,400 39.2%\nPresented in accordance with K-IFRS.\nIf the agenda item related to the approval of financial statements is rejected or adjusted at the AGM, the details will be published in future reports.\nIn 2022, revenue increased year-on-year by KRW 22.6266 trillion (8.1%) to an all-time annual high of KRW 302.2314\ntrillion, driven by expanding sales of premium products, such as Neo QLED TV, Bespoke, and flagship smartphones, as\nSamsung Electronics Business Report 243 / 41",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000485_segments",
      "report_id": "ID_000485",
      "company_name": "Samsung",
      "year": 2022,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "DX, DS, SDC, Harman, and\nothers",
      "golden_context": "Page 134:\n\n29. Segment Information\n(A) Operating segment information\nThe chief operating decision-maker has been identified as the Management Committee. The Company determines operating segments\nbased on the units reported to the Management Committee. The Management Committee reviews the operating profits of each\noperating segment in order to assess the performance and to make strategic decisions regarding the allocation of resources to the\nsegments.\nSales revenue consists mostly of product sales. The operating segments are product-based and are identified based on the internal\norganization and revenue streams. As of the reporting date, the operating segments are comprised of DX, DS, SDC, Harman, and\nothers.\nThe segment information for each reporting period is prepared after allocating the intercompany reconciliations to depreciation,\namortization of intangible assets and operating profits. Total assets and liabilities of each operating segment are excluded from the\ndisclosure as these have not been provided regularly to the Management Committee.\n(1) For the year ended December 31, 2022\n(In millions of Korean won) DX DS SDC Harman Total1\nNet revenue 182,489,720 98,455,270 34,382,619 13,213,694 302,231,360\nDepreciation 2,520,708 28,196,959 4,768,498 331,342 35,952,098\nAmortization 1,678,572 809,270 237,182 211,549 3,155,561\nOperating profit 12,746,074 23,815,810 5,952,973 880,548 43,376,630\n1 Other operating segments are not separately disclosed.\nNet revenue by major product for the year ended December 31, 2022 are as follows:\n(In millions of Korean won) Image devices Mobile devices Memory Display panels Total1\nNet revenue 33,279,488 115,425,375 68,534,930 34,382,619 302,231,360\n1 Other products are not separately disclosed.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_cash_flow",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 44137427m, investing: -16922817m, financing: -8593059m",
      "golden_context": "Page 64-65:\n\nE. Consolidated Statements of Cash Flows\n(In millions of Korean won, in thousands of US dollars (Note 2.18))\nFor the years ended December 31,\nNotes 2023 2022 2023 2022\nKRW KRW USD USD\nOperating activities\nProfit for the year 15,487,100 55,654,077 11,857,333 42,610,233\nAdjustments 27 36,519,534 33,073,439 27,960,321 25,321,899\nChanges in assets and liabilities arising\nfrom operating activities 27 (5,458,745) (16,998,948) (4,179,359) (13,014,844)\nCash generated from operations 46,547,889 71,728,568 35,638,295 54,917,288\nInterest received 4,786,010 2,136,795 3,664,296 1,635,987\nInterest paid (844,691) (714,543) (646,718) (547,073)\nDividends received 269,169 529,421 206,083 405,339\nIncome tax paid (6,620,950) (11,498,895) (5,069,175) (8,803,859)\nNet cash from operating activities 44,137,427 62,181,346 33,792,781 47,607,682\nNet cash used in investing activities Investing activities\nNet decrease in short-term financial instruments 39,421,565 15,214,321 30,182,192 11,648,486\nNet decrease (increase) in short-term financial\nassets at amortized cost (195,616) 3,050,104 (149,769) 2,335,240\nNet decrease in short-term financial assets at\nfair value through profit or loss 2,718 11,677 2,081 8,940\nDisposal of long-term financial instruments 4,565,426 8,272,909 3,495,411 6,333,958\nAcquisition of long-term financial instruments (5,307,770) (4,393,754) (4,063,769) (3,363,974)\nDisposal of financial assets at fair value\nthrough other comprehensive income 6,521,568 496,090 4,993,085 379,820\nAcquisition of financial assets at fair value\nthrough other comprehensive income (124,488) (37,687) (95,311) (28,854)\nDisposal of financial assets at fair value through profit\nor loss 63,962 166,315 48,971 127,335\nAcquisition of financial assets at fair value\nthrough profit or loss (130,459) (158,244) (99,883) (121,156)\nDisposal of investment in associates and joint\nventures 33,457 13,233 25,616 10,132\nAcquisition of investment in associates and joint\nventures (78,690) (907,958) (60,247) (695,157)\nDisposal of property, plant and equipment 98,341 217,878 75,292 166,813\nAcquisition of property, plant and equipment (57,611,292) (49,430,428) (44,108,728) (37,845,242)\nDisposal of intangible assets 11,744 23,462 8,992 17,963\nAcquisition of intangible assets (2,922,875) (3,696,304) (2,237,830) (2,829,988)\nCash outflow from business combinations (356,511) (31,383) (272,954) (24,028)\nCash outflow from other investing activities (913,897) (413,035) (699,705) (316,230)\nSamsung Electronics Business Report 64 / 396\n(16,922,817) (31,602,804) (12,956,556) (24,195,942)\nFor the years ended December 31,\nNotes 2023 2022 2023 2022\nKRW KRW USD USD\nFinancing activities\nNet increase (decrease) in short-term borrowings 27 2,145,400 (8,339,149) 1,642,575 (6,384,673)\nIncrease in long-term borrowings 27 354,712 271,997 271,577 208,248\nRepayment of debentures and long-term borrowings 27 (1,219,579) (1,508,465) (933,742) (1,154,921)\nDividends paid (9,864,474) (9,814,426) (7,552,502) (7,514,184)\nNet decrease in non-controlling interests (9,118) (6) (6,981) (4)\nNet cash used in financing activities (8,593,059) (19,390,049) (6,579,073) (14,845,534)\nReclassification to assets held-for-sale 33 (14,153) - (10,836) -\nEffect of foreign exchange rate changes 792,785 (539,198) 606,977 (412,822)\nNet increase in cash and cash equivalents 19,400,183 10,649,295 14,853,293 8,153,384\nCash and cash equivalents\nBeginning of the year 49,680,710 39,031,415 38,036,865 29,883,483\nEnd of the year 69,080,893 49,680,710 52,890,158 38,036,867",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_company_type",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Ltd.",
      "golden_context": "Page 1:\n\nSAMSUNG ELECTRONICS Co., Ltd.\n2023 Business Report\nFor the year ended December 31, 2023",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_key_financials",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 258935494m, operating profit: 6566976m",
      "golden_context": "Page 128:\n\n For the year ended December 31, 2023\n(In millions of Korean won) DX DS SDC Harman\nIntercompany\nreconciliations Total(*)\nRevenue 169,992,337 66,594,471 30,975,373 14,388,454 (23,015,141) 258,935,494\nDepreciation 2,524,199 29,371,056 3,108,935 327,572 - 35,532,411\nAmortization 1,721,938 754,901 222,045 200,896 - 3,134,148\nOperating profit 14,384,705 (14,879,458) 5,566,478 1,173,702 - 6,566,976",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_revenue",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue: 258935494m",
      "golden_context": "Page 128:\n\n For the year ended December 31, 2023\n(In millions of Korean won) DX DS SDC Harman\nIntercompany\nreconciliations Total(*)\nRevenue 169,992,337 66,594,471 30,975,373 14,388,454 (23,015,141) 258,935,494\nDepreciation 2,524,199 29,371,056 3,108,935 327,572 - 35,532,411\nAmortization 1,721,938 754,901 222,045 200,896 - 3,134,148\nOperating profit 14,384,705 (14,879,458) 5,566,478 1,173,702 - 6,566,976",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_revenue_growth",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Decrease of 14.3%",
      "golden_context": "Page 24:\n\nThere are 32 subsidiaries in Asia (ex China), including SESP (Singapore), SEAU (Australia), SEPCO (Philippines), and\nSME (Malaysia), which are responsible for regional sales. In addition, we operate numerous production sites including SEV\nand SEVT (Vietnam) for smartphones, SEHC (Vietnam) for TVs, SDV (Vietnam) for display panels, and SIEL (India) for\nmultiple products.\nWe operate 30 subsidiaries in China, including SCIC (Beijing) and SEHK (Hong Kong) for the sales of finished products\nin those regions; and SSS (Shanghai) and SSCX (Xian) for semiconductor and display panel sales. Production sites for\nfinished products include SSEC (Suzhou) and semiconductor production facilities are located in SCS (Xian) among others.\nThe Company in 2023 recorded total revenue of KRW 258,935.5 billion, a decrease of 14.3% year-on-year. Major customers\n(listed in alphabetical order) included Apple, Best Buy, Deutsche Telekom, Qualcomm, and Verizon.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000486_segments",
      "report_id": "ID_000486",
      "company_name": "Samsung",
      "year": 2023,
      "country": "KR",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "DX, DS, SDC, Harman, and\nothers",
      "golden_context": "Page 128:\n\n29. Segment Information\n(A) Operating segment information\nThe chief operating decision-maker has been identified as the Management Committee. The Company determines operating segments\nbased on the segment information reported to the Management Committee. The Management Committee reviews the operating profits\nof each operating segment in order to evaluate the performance and to make strategic decisions regarding the allocation of resources\nto each segment.\nRevenue consists mostly of product sales. The operating segments are product-based and are identified based on the internal\norganization and revenue streams. As of the reporting date, the operating segments are comprised of DX, DS, SDC, Harman, and\nothers.\nThe segment information including depreciation, amortization and operating profits is prepared after adjusting intercompany\ntransactions. Total assets and liabilities of each operating segment are excluded from the disclosure as these have not been provided\nregularly to the Management Committee.\n(1) For the year ended December 31, 2023\n(In millions of Korean won) DX DS SDC Harman\nIntercompany\nreconciliations Total(*)\nRevenue 169,992,337 66,594,471 30,975,373 14,388,454 (23,015,141) 258,935,494\nDepreciation 2,524,199 29,371,056 3,108,935 327,572 - 35,532,411\nAmortization 1,721,938 754,901 222,045 200,896 - 3,134,148\nOperating profit 14,384,705 (14,879,458) 5,566,478 1,173,702 - 6,566,976\n(*) Other operating segments are not separately disclosed.\nRevenue by major product for the year ended December 31, 2022 are as follows:\n(In millions of Korean won)\nTV, monitor, and\nother\nSmartphone and\nother Memory Display panels Total(*)\nRevenue 30,375,193 108,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_cash_flow",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 762061398k, investing: 151732601k, financing: -92559416k",
      "golden_context": "Page 13:\n\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nNote s 2021 2020\nCash flows from operating activities\nProfit for the period W (814,227,962) W (431,445,898)\nAdjustments 1,669,141,261 359,202,540\nCash generated from operations 3 7 854,913,299 (72,243,358)\nInterest received 16,901,380 30,901,062\nInterest paid (110,083,307) (137,053,971)\nDividends received 34,280 34,280\nIncome taxes refund (paid) 295,746 (21,637,830)\nNet cash provided by (used in) operating activities 762,061,398 (199,999,817)\nCash flows from investing activities\nProceeds from collection of short-term financial assets 403,200,000 593,916,220\nProceeds from collection of short-term other receivables - 428,400\nProceeds from collection of long-term financial assets 452 2,021\nProceeds from collection of long-term other receivables 5,315,962 3,314,581\nProceeds from disposal of property, plant and equipment 12,469,277 7,448,098\nProceeds from disposal of intangible assets 2,526,016 54,338\nProceeds from disposal of non-current assets held for sale - 6,911,777\nAcquisition of short-term financial assets - (578,946,200)\nAcquisition of short-term other receivables - (4,658,800)\nAcquisition of investment in associates - (946,000)\nAcquisition of long-term financial assets - (2,100)\nAcquisition of long-term other receivables (6,588,941) (4,727,636)\nAcquisition of Investment properties - (17,008)\nAcquisition of property, plant and equipment (243,969,800) (226,249,451)\nAcquisition of intangible assets (21,220,365) (9,860,679)\nCash flows from business transfer - 12,291,176\nNet cash provided by (used in) investing activities 151,732,601 (201,041,263)\nCash flows from financing activities\nCapital increase 1,068,422,903 Increase in short-term financial liabilities 991,522,103 2,204,233,405\nIncrease in long-term financial liabilities 1,235,155,000 2,307,122,000\nRepayment of financial liabilities (3,378,319,040)\n(3,771,638,365\nRepayment of lease liabilities (9,340,382) (9,560,585)\nNet cash provided by (used in) financing activities (92,559,416) 730,156,455\nEffects of exchange rate changes on cash and cash\nequivalents 1,333,829 (7,925,800)\nNet increase in cash and cash equivalents 822,568,412 321,189,575\nCash and cash equivalents at January 1 1,314,823,009 993,633,434\nCash and cash equivalents at December 31 W 2,137,391,421 W 1,314,823,009\nSee accompanying notes to the consolidated financial statement s .\n5\n-\n)\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n1. Reporting Entity\n(1) Description of the controlling company\nHyundai Heavy Industries Co., Ltd. (the “Parent company”) was newly established by spin-off from the\nKorea Shipbuilding & Offshore Engineering Co., Ltd. (before the spin-off, its name was Hyundai Heavy\nIndustries Co., Ltd., and it became a surviving entity after spin-off) on June 1, 2019 and is engaged in the\nmanufacture and sale of ships, offshore structures, plants, engines and other products. It was listed on the\nKorea Exchange in September 2021. The Parent company’s head office is located in Ulsan. As of December\n31, 2021, the Parent company’s major stockholder is the Korea Shipbuilding & Offshore Engineering Co.,\nLtd. (79.7%).\n(2) Consolidated subsidiary\nDetails of the consolidated subsidiary as of December 31, 2021 and 2020 is summarized as follows:\nOwnership (%)\nCompany Main business Location\nFiscal\nyear end\nDecembe\nr 31,\n2021\nDecember\n31, 2020\nHyundai Heavy Industries Free Zone\nEnterprise (*) Industrial plant construction Nigeria December 100.00 100.00\n(*) During the year ended December 31, 2020, it was newly established in Nigeria to carry out local\nconstruction work.\n(3) Condensed financial information of the consolidated subsidiary\nCondensed financial information of consolidated subsidiary as of and for the year December 31, 2021 and\nthe year ended December 31, 2020 is summarized as follows:\n(In millions of won)\nCompany Period/Year Assets Liabilities Equity Sales Profit\nTotal\ncomprehensive loss\nHyundai Heavy\nIndustries Free Zone\nEnterprise\n2021.12.3\n1\n2020.12.3\n1\nW 669 11 658 7,578 551 556\nW 395 293 102 2,120 17 (19)\n(4) Non-controlling interests\nThere is no non-controlling interests of the subsidiary as of December 31, 2021 and December 31, 2020.\n2. Basis of Preparation\nHyundai Heavy Industries Co., Ltd. and its subsidiary (the “Group”)`s consolidated financial statements have\nbeen prepared in accordance ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_company_type",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "Ltd.",
      "golden_context": "Page 1:\n\nHyundai Heavy Industries Co., Ltd.\nand its Subsidiary\nConsolidated financial statements\nfor the year ended December 31, 2021\nwith the independent auditor’s report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_key_financials",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales: 8311275924k, gross profit: -209208672k, profit: -814227962k, EPS: -10713",
      "golden_context": "Page 11:\n\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nW (814,227,962) W (431,445,898)\nNote s 2021 2020\nSales Cost of sales 24,29,30,42 W 8,311,275,924 W 8,312,009,823\n10,24,32,42 8,520,484,596 7,837,882,674\nGross profit (209,208,672) 474,127,149\nSelling, general and administrative expenses 31,32,38 591,054,105 441,618,088\nOperating profit (800,262,777) 32,509,061\nFinance income 24,33,38 514,057,441 762,180,290\nFinance costs 24,33,38 999,733,145 780,590,122\nOther non-operating income 24,34 471,302,460 88,958,743\nOther non-operating expenses 24,34 296,165,988 643,170,420\nLoss on valuation of equity method (646,157) -\nProfit before income tax (1,111,448,166) (540,112,448)\nIncome tax expense 3 5 (297,220,204) (108,666,550)\nProfit for the period Other comprehensive income (loss) Items that are or may be reclassified subsequently to\nprofit or loss after tax:\nGain (loss) on valuation of derivatives W 7,717,898 W 244,179\nOverseas operation translation gains (losses) 4,926 (35,219)\nTotal items that are or may be reclassified\nsubsequently to profit or loss after tax 7,722,824 208,960\nItems that will not be reclassified subsequently to\nprofit or loss after tax:\nChanges in financial assets measured at FVOCI (41,861) -\nActuarial gains (28,635,576) 31,048,904\nRevaluation of property, plant and equipment - 138,065,213\nTotal items that will not be reclassified subsequently to\nprofit or loss after tax Other comprehensive income (loss) for the period,\nnet of income tax Total comprehensive income (loss) for the period Earnings per share\nBasic earnings per share (In won) 3 6 W (10,713) W (6,096)\n2 4 ,2 7 ,38\n(28,677,437) 169,114,117\n(20,954,613) 169,323,077\nW (835,182,575) W (262,122,821)\nSee accompanying notes to the consolidated financial statement s\n3\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings(accum\nulated deficit) Total equity\nBalance at January 1, 2020 Total comprehensive income (loss) for the\nperiod:\nW 353,865,580 W 4,639,942,059 W (1,411,000) W 735,432,323 W (104,921,520) W 5,622,907,442\nProfit (loss) for the period - - - - (431,445,898) (431,445,898)\nGain (loss) on valuation of derivatives - - - 244,179 - 244,179\nActuarial gains and losses - - - - 31,048,904 31,048,904\nRevaluation of property, plant and equipment - - - 138,065,213 - 138,065,213\nOverseas operation translation gains (losses) - - - (35,219) - (35,219)\nOther\nReclassification of revaluation surplus - - - (233,264) 233,264 -\nBalance at December 31, 2020 W 353,865,580 W 4,639,942,059 W (1,411,000) W 873,473,232 W (505,085,250) W 5,360,784,621\nBalance at January 1, 2021 W 353,865,580 4,639,942,059 (1,411,000) 873,473,232 (505,085,250) 5,360,784,621\nTotal comprehensive income (loss) for the\nperiod:\nProfit for the period - - - - (814,227,962) (814,227,962)\nChanges in financial assets measured at Fair\nvalue through other comprehensive income. - - - (41,861) - (41,861)\nGain (loss) on valuation of derivatives - - - 7,717,898 - 7,717,898\nActuarial gains and losses - - - - (28,635,576) (28,635,576)\nOverseas operation translation gains (losses) - - - 4,926 - 4,926\nTransactions with owners of the company,\nrecognized directly in equity:\nCapital increase 90,000,000 978,422,903 - - - 1,068,422,903\nOther\nCapital surplus transfer - (2,500,000,000) - - 2,500,000,000 -\nRevaluation of financial assets measured at\nFair value through other income. - - - 489,527 (489,527) -\nRevaluation of property, plant and equipment - - - (156,106) 156,106 -\nBalance at December 31, 2021 W 443,865,580 3,118,364,962 (1,411,000) 881,487,616 1,151,717,791 5,594,024,949\nSee accompanying notes to the consolidated financial stateme nt s .\n4\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nNote s 2021 2020\nCash flows from operating activities\nProfit for the period W (814,227,962) W (431,445,898)\nAdjustments 1,669,141,261 359,202,540\nCash generated from operations 3 7 854,913,299 (72,243,358)\nInterest received 16,901,380 30,901,062\nInterest paid (110,083,307) (137,053,971)\nDividends received 34,280 34,280\nIncome taxes refund (paid) 295,746 (21,637,830)\nNet cash provided by (used in) operating activities 762,061,398 (199,999,817)\nCash flows from investing activities\nProceeds from collection of short-term financial assets 403,200,000 593,916,220\nProceeds from collection of short-term other receivables - 428,400\nProceeds from collection of long-term financial assets 452 2,021\nProceeds from collection of long-term other receivables 5,315,962 3,314,581\nProceeds from disposal of property, plant and equipment 12,469,277 7,448,098\nProceeds from disposal of intangible assets 2,526,016 54,338\nProceeds from disposal of non-current assets held for sale - 6,911,777\nAcquisition of short-term financial assets - (578,946,200)\nAcquisition of short-term other receivables - (4,658,800)\nAcquisition of investment in associates - (946,000)\nAcquisition of long-term financial assets - (2,100)\nAcquisition of long-term other receivables (6,588,941) (4,727,636)\nAcquisition of Investment properties - (17,008)\nAcquisition of property, plant and equipment (243,969,800) (226,249,451)\nAcquisition of intangible assets (21,220,365) (9,860,679)\nCash flows from business transfer - 12,291,176\nNet cash provided by (used in) investing activities 151,732,601 (201,041,263)\nCash flows from financing activities\nCapital increase 1,068,422,903 Increase in short-term financial liabilities 991,522,103 2,204,233,405\nIncrease in long-term financial liabilities 1,235,155,000 2,307,122,000\nRepayment of financial liabilities (3,378,319,040)\n(3,771,638,365\nRepayment of lease liabilities (9,340,382) (9,560,585)\nNet cash provided by (used in) financing activities (92,559,416) 730,156,455\nEffects of exchange rate changes on cash and cash\nequivalents 1,333,829 (7,925,800)\nNet increase in cash and cash equivalents 822,568,412 321,189,575\nCash and cash equivalents at January 1 1,314,823,009 993,633,434\nCash and cash equivalents at December 31 W 2,137,391,421 W 1,314,823,009\nSe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_revenue",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "Sales: 8311275924k",
      "golden_context": "Page 11:\n\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nW (814,227,962) W (431,445,898)\nNote s 2021 2020\nSales Cost of sales 24,29,30,42 W 8,311,275,924 W 8,312,009,823\n10,24,32,42 8,520,484,596 7,837,882,674\nGross profit (209,208,672) 474,127,149\nSelling, general and administrative expenses 31,32,38 591,054,105 441,618,088\nOperating profit (800,262,777) 32,509,061\nFinance income 24,33,38 514,057,441 762,180,290\nFinance costs 24,33,38 999,733,145 780,590,122\nOther non-operating income 24,34 471,302,460 88,958,743\nOther non-operating expenses 24,34 296,165,988 643,170,420\nLoss on valuation of equity method (646,157) -\nProfit before income tax (1,111,448,166) (540,112,448)\nIncome tax expense 3 5 (297,220,204) (108,666,550)\nProfit for the period Other comprehensive income (loss) Items that are or may be reclassified subsequently to\nprofit or loss after tax:\nGain (loss) on valuation of derivatives W 7,717,898 W 244,179\nOverseas operation translation gains (losses) 4,926 (35,219)\nTotal items that are or may be reclassified\nsubsequently to profit or loss after tax 7,722,824 208,960\nItems that will not be reclassified subsequently to\nprofit or loss after tax:\nChanges in financial assets measured at FVOCI (41,861) -\nActuarial gains (28,635,576) 31,048,904\nRevaluation of property, plant and equipment - 138,065,213\nTotal items that will not be reclassified subsequently to\nprofit or loss after tax Other comprehensive income (loss) for the period,\nnet of income tax Total comprehensive income (loss) for the period Earnings per share\nBasic earnings per share (In won) 3 6 W (10,713) W (6,096)\n2 4 ,2 7 ,38\n(28,677,437) 169,114,117\n(20,954,613) 169,323,077\nW (835,182,575) W (262,122,821)\nSee accompanying notes to the consolidated financial statement s\n3\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings(accum\nulated deficit) Total equity\nBalance at January 1, 2020 Total comprehensive income (loss) for the\nperiod:\nW 353,865,580 W 4,639,942,059 W (1,411,000) W 735,432,323 W (104,921,520) W 5,622,907,442\nProfit (loss) for the period - - - - (431,445,898) (431,445,898)\nGain (loss) on valuation of derivatives - - - 244,179 - 244,179\nActuarial gains and losses - - - - 31,048,904 31,048,904\nRevaluation of property, plant and equipment - - - 138,065,213 - 138,065,213\nOverseas operation translation gains (losses) - - - (35,219) - (35,219)\nOther\nReclassification of revaluation surplus - - - (233,264) 233,264 -\nBalance at December 31, 2020 W 353,865,580 W 4,639,942,059 W (1,411,000) W 873,473,232 W (505,085,250) W 5,360,784,621\nBalance at January 1, 2021 W 353,865,580 4,639,942,059 (1,411,000) 873,473,232 (505,085,250) 5,360,784,621\nTotal comprehensive income (loss) for the\nperiod:\nProfit for the period - - - - (814,227,962) (814,227,962)\nChanges in financial assets measured at Fair\nvalue through other comprehensive income. - - - (41,861) - (41,861)\nGain (loss) on valuation of derivatives - - - 7,717,898 - 7,717,898\nActuarial gains and losses - - - - (28,635,576) (28,635,576)\nOverseas operation translation gains (losses) - - - 4,926 - 4,926\nTransactions with owners of the company,\nrecognized directly in equity:\nCapital increase 90,000,000 978,422,903 - - - 1,068,422,903\nOther\nCapital surplus transfer - (2,500,000,000) - - 2,500,000,000 -\nRevaluation of financial assets measured at\nFair value through other income. - - - 489,527 (489,527) -\nRevaluation of property, plant and equipment - - - (156,106) 156,106 -\nBalance at December 31, 2021 W 443,865,580 3,118,364,962 (1,411,000) 881,487,616 1,151,717,791 5,594,024,949\nSee accompanying notes to the consolidated financial stateme nt s .\n4\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nNote s 2021 2020\nCash flows from operating activities\nProfit for the period W (814,227,962) W (431,445,898)\nAdjustments 1,669,141,261 359,202,540\nCash generated from operations 3 7 854,913,299 (72,243,358)\nInterest received 16,901,380 30,901,062\nInterest paid (110,083,307) (137,053,971)\nDividends received 34,280 34,280\nIncome taxes refund (paid) 295,746 (21,637,830)\nNet cash provided by (used in) operating activities 762,061,398 (199,999,817)\nCash flows from investing activities\nProceeds from collection of short-term financial assets 403,200,000 593,916,220\nProceeds from collection of short-term other receivables - 428,400\nProceeds from collection of long-term financial assets 452 2,021\nProceeds from collection of long-term other receivables 5,315,962 3,314,581\nProceeds from disposal of property, plant and equipment 12,469,277 7,448,098\nProceeds from disposal of intangible assets 2,526,016 54,338\nProceeds from disposal of non-current assets held for sale - 6,911,777\nAcquisition of short-term financial assets - (578,946,200)\nAcquisition of short-term other receivables - (4,658,800)\nAcquisition of investment in associates - (946,000)\nAcquisition of long-term financial assets - (2,100)\nAcquisition of long-term other receivables (6,588,941) (4,727,636)\nAcquisition of Investment properties - (17,008)\nAcquisition of property, plant and equipment (243,969,800) (226,249,451)\nAcquisition of intangible assets (21,220,365) (9,860,679)\nCash flows from business transfer - 12,291,176\nNet cash provided by (used in) investing activities 151,732,601 (201,041,263)\nCash flows from financing activities\nCapital increase 1,068,422,903 Increase in short-term financial liabilities 991,522,103 2,204,233,405\nIncrease in long-term financial liabilities 1,235,155,000 2,307,122,000\nRepayment of financial liabilities (3,378,319,040)\n(3,771,638,365\nRepayment of lease liabilities (9,340,382) (9,560,585)\nNet cash provided by (used in) financing activities (92,559,416) 730,156,455\nEffects of exchange rate changes on cash and cash\nequivalents 1,333,829 (7,925,800)\nNet increase in cash and cash equivalents 822,568,412 321,189,575\nCash and cash equivalents at January 1 1,314,823,009 993,633,434\nCash and cash equivalents at December 31 W 2,137,391,421 W 1,314,823,009\nSe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_revenue_growth",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "Sales: 8311275924k, prior year: 8312009823k",
      "golden_context": "Page 11:\n\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nW (814,227,962) W (431,445,898)\nNote s 2021 2020\nSales Cost of sales 24,29,30,42 W 8,311,275,924 W 8,312,009,823\n10,24,32,42 8,520,484,596 7,837,882,674\nGross profit (209,208,672) 474,127,149\nSelling, general and administrative expenses 31,32,38 591,054,105 441,618,088\nOperating profit (800,262,777) 32,509,061\nFinance income 24,33,38 514,057,441 762,180,290\nFinance costs 24,33,38 999,733,145 780,590,122\nOther non-operating income 24,34 471,302,460 88,958,743\nOther non-operating expenses 24,34 296,165,988 643,170,420\nLoss on valuation of equity method (646,157) -\nProfit before income tax (1,111,448,166) (540,112,448)\nIncome tax expense 3 5 (297,220,204) (108,666,550)\nProfit for the period Other comprehensive income (loss) Items that are or may be reclassified subsequently to\nprofit or loss after tax:\nGain (loss) on valuation of derivatives W 7,717,898 W 244,179\nOverseas operation translation gains (losses) 4,926 (35,219)\nTotal items that are or may be reclassified\nsubsequently to profit or loss after tax 7,722,824 208,960\nItems that will not be reclassified subsequently to\nprofit or loss after tax:\nChanges in financial assets measured at FVOCI (41,861) -\nActuarial gains (28,635,576) 31,048,904\nRevaluation of property, plant and equipment - 138,065,213\nTotal items that will not be reclassified subsequently to\nprofit or loss after tax Other comprehensive income (loss) for the period,\nnet of income tax Total comprehensive income (loss) for the period Earnings per share\nBasic earnings per share (In won) 3 6 W (10,713) W (6,096)\n2 4 ,2 7 ,38\n(28,677,437) 169,114,117\n(20,954,613) 169,323,077\nW (835,182,575) W (262,122,821)\nSee accompanying notes to the consolidated financial statement s\n3\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings(accum\nulated deficit) Total equity\nBalance at January 1, 2020 Total comprehensive income (loss) for the\nperiod:\nW 353,865,580 W 4,639,942,059 W (1,411,000) W 735,432,323 W (104,921,520) W 5,622,907,442\nProfit (loss) for the period - - - - (431,445,898) (431,445,898)\nGain (loss) on valuation of derivatives - - - 244,179 - 244,179\nActuarial gains and losses - - - - 31,048,904 31,048,904\nRevaluation of property, plant and equipment - - - 138,065,213 - 138,065,213\nOverseas operation translation gains (losses) - - - (35,219) - (35,219)\nOther\nReclassification of revaluation surplus - - - (233,264) 233,264 -\nBalance at December 31, 2020 W 353,865,580 W 4,639,942,059 W (1,411,000) W 873,473,232 W (505,085,250) W 5,360,784,621\nBalance at January 1, 2021 W 353,865,580 4,639,942,059 (1,411,000) 873,473,232 (505,085,250) 5,360,784,621\nTotal comprehensive income (loss) for the\nperiod:\nProfit for the period - - - - (814,227,962) (814,227,962)\nChanges in financial assets measured at Fair\nvalue through other comprehensive income. - - - (41,861) - (41,861)\nGain (loss) on valuation of derivatives - - - 7,717,898 - 7,717,898\nActuarial gains and losses - - - - (28,635,576) (28,635,576)\nOverseas operation translation gains (losses) - - - 4,926 - 4,926\nTransactions with owners of the company,\nrecognized directly in equity:\nCapital increase 90,000,000 978,422,903 - - - 1,068,422,903\nOther\nCapital surplus transfer - (2,500,000,000) - - 2,500,000,000 -\nRevaluation of financial assets measured at\nFair value through other income. - - - 489,527 (489,527) -\nRevaluation of property, plant and equipment - - - (156,106) 156,106 -\nBalance at December 31, 2021 W 443,865,580 3,118,364,962 (1,411,000) 881,487,616 1,151,717,791 5,594,024,949\nSee accompanying notes to the consolidated financial stateme nt s .\n4\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 2020\n(In thousands of won)\nNote s 2021 2020\nCash flows from operating activities\nProfit for the period W (814,227,962) W (431,445,898)\nAdjustments 1,669,141,261 359,202,540\nCash generated from operations 3 7 854,913,299 (72,243,358)\nInterest received 16,901,380 30,901,062\nInterest paid (110,083,307) (137,053,971)\nDividends received 34,280 34,280\nIncome taxes refund (paid) 295,746 (21,637,830)\nNet cash provided by (used in) operating activities 762,061,398 (199,999,817)\nCash flows from investing activities\nProceeds from collection of short-term financial assets 403,200,000 593,916,220\nProceeds from collection of short-term other receivables - 428,400\nProceeds from collection of long-term financial assets 452 2,021\nProceeds from collection of long-term other receivables 5,315,962 3,314,581\nProceeds from disposal of property, plant and equipment 12,469,277 7,448,098\nProceeds from disposal of intangible assets 2,526,016 54,338\nProceeds from disposal of non-current assets held for sale - 6,911,777\nAcquisition of short-term financial assets - (578,946,200)\nAcquisition of short-term other receivables - (4,658,800)\nAcquisition of investment in associates - (946,000)\nAcquisition of long-term financial assets - (2,100)\nAcquisition of long-term other receivables (6,588,941) (4,727,636)\nAcquisition of Investment properties - (17,008)\nAcquisition of property, plant and equipment (243,969,800) (226,249,451)\nAcquisition of intangible assets (21,220,365) (9,860,679)\nCash flows from business transfer - 12,291,176\nNet cash provided by (used in) investing activities 151,732,601 (201,041,263)\nCash flows from financing activities\nCapital increase 1,068,422,903 Increase in short-term financial liabilities 991,522,103 2,204,233,405\nIncrease in long-term financial liabilities 1,235,155,000 2,307,122,000\nRepayment of financial liabilities (3,378,319,040)\n(3,771,638,365\nRepayment of lease liabilities (9,340,382) (9,560,585)\nNet cash provided by (used in) financing activities (92,559,416) 730,156,455\nEffects of exchange rate changes on cash and cash\nequivalents 1,333,829 (7,925,800)\nNet increase in cash and cash equivalents 822,568,412 321,189,575\nCash and cash equivalents at January 1 1,314,823,009 993,633,434\nCash and cash equivalents at December 31 W 2,137,391,421 W 1,314,823,009\nSe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000487_segments",
      "report_id": "ID_000487",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2021,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Shipbuilding; Offshore, Industrial Plant and Engineering; Engine and Machinery; Others",
      "golden_context": "Page 74:\n\n0. Operating Segments\n(i) (ii) (iii) (iv) The Group has the following four strategic divisions, which are its reportable segments. These strategic\noperating units offer different products and services and are managed separately because they require\ndifferent technology and marketing strategies. The chief executive officer (CEO) reviews internal reports of\neach strategic operating unit at least quarterly.\nShipbuilding: Manufacturing and sale of VLCCs, containerships, P/C ships, LNG carriers, warships, ship’s\ncontrol panel(*) and others\nOffshore, Industrial Plant and Engineering: Manufacturing and installation of offshore facilities, floating\nunits, power plants, and processing equipment\nEngine and Machinery: Manufacturing and sale of engines for ships, diesel power plants, industrial and\nmarine pumps and hydraulic machinery\nOthers: Operating performing arts center, leisure sports facilities and others\n(*) The Group has transferred ship’s digital control business to Hyundai Global Service Co., Ltd., a related\nparty, for the period ended December 31, 2020 (See Note 43).\n72\n66\nSales\nInterGroup\nsales\nOperating\nProfit (loss)\nProfit (Loss)\nfor the period\nDepreciation,\namortization(*)\nW 6,320,638 426,740 - (298) (192,071) (169,261) (169,980) (189,748) 128,064\n23,433\n1,491,725 - 132,618 113,264 53,770\n72,471 - (571,549) (567,764) 34,096\n(298) 298 - - W 8,311,276 - (800,263) (814,228) 239,363\n(In millions of won) 2020\nSales\nInterGroup\nsales\nOperating\nProfit (loss)\nProfit (Loss)\nfor the period\nDepreciation,\namortization(*)\nW 5,877,136 - 175,523 (25,230) 123,316\n896,979 (291) (97,681) (290,283) 41,318\n1,472,784 - 131,883 92,826 52,751\n65,402 - (177,216) (208,759) 34,926\n(291) 291 - - W 8,312,010 - 32,509 (431,446) 252,311\nHyundai Heavy Industries Co., Ltd. and its Subsidiary\nNotes to the Consolidated Financial Statements\nFor the twelve-month periods ended December 31, 2021 and 20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_cash_flow",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 65688912k, investing: -523977860k, financing: -941812287k",
      "golden_context": "Page 12-13:\n\nHYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Cash Flows\nFor the years ended December 31, 2022 and 2021\n(In thousands of won)\nNote 2022 2021\nCash flows from operating activities\nLoss for the year W (350,075,802) (814,133,265)\nAdjustments 456,070,392 1,668,901,592\nCash generated from operations 38 105,994,590 854,768,327\nInterest received 41,090,669 16,901,380\nInterest paid (76,706,938) (110,083,307)\nDividends received 37,708 34,280\nIncome taxes refund (paid) (4,727,117) 295,746\nNet cash provided by operating activities 65,688,912 761,916,426\nCash flows from investing activities\nProceeds from collection of short-term financial assets 746,299,513 403,200,000\nProceeds from collection of short-term other receivables 5,666,035 Proceeds from collection of long-term financial assets 6,000 452\nProceeds from collection of long-term other receivables 151,655 5,315,962\nProceeds from sales of property, plant and equipment 12,796,136 12,469,277\nProceeds from sales of intangible assets 500,000 2,526,016\nProceeds from sales of non-current assets held for sale 4,719,315 Acquisition of short-term financial assets (755,040,653) Acquisition of investments in subsidiary and associate (29,000,000) Proceeds from sales of investments in subsidiary and associate 165,115 Acquisition of long-term other receivables (4,469,669) (6,588,941)\nAcquisition of property, plant and equipment (476,532,164) (243,962,261)\nAcquisition of intangible assets (29,239,143) (21,220,365)\nNet cash provided by (used in) investing activities (523,977,860) 151,740,140\nCash flows from financing activities\nCapital increase - 1,068,422,903\nProceeds from short-term financial liabilities 621,413,028 991,522,103\nProceeds from long-term financial liabilities 365,490,000 1,235,155,000\nRepayment of financial liabilities (1,919,105,866) (3,378,319,040)\nRepayment of lease liabilities (9,609,449) (9,340,382)\nNet cash used in financing activities (941,812,287) (92,559,416)\nEffects of exchange rate changes on cash and cash equivalents (13,775,202) 1,359,130\nNet increase (decrease) in cash and cash equivalents (1,413,876,437) 822,456,280\nCash and cash equivalents at January 1 2,137,125,639 1,314,669,359\nCash and cash equivalents at December 31 W 723,249,202 2,137,125,639\nSee accompanying notes to the separate financial statements.\n10\n-\n-\n-\n-\n-\nHYUNDAI HEAVY INDUSTRIES CO., LTD.\nNotes to the Separate Financial Statements\nFor the years ended December 31, 2022 and 2021\n1. Reporting Entity\nHyundai Heavy Industries Co., Ltd. (the “Company”) was newly established through a split-off from Korea\nShipbuilding & Offshore Engineering Co., Ltd. (known as Hyundai Heavy Industries Co., Ltd. before split-off,\nexisting entity) on June 1, 2019 (inception date) and is engaged in the manufacture and sale of ships,\noffshore structures, plants, engines and other products. The Company was listed on the Korea Exchange in\nSeptember 2021. The Company’s head office is located in Ulsan. As of December 31, 2022, the\nCompany’s major stockholder is the Korea Shipbuilding & Offshore Engineering Co., Ltd. (78.0%).\n2. Basis of Preparation\nThe separate financial statements have been prepared in accordance with Korean International Financial\nReporting Standards (“K-IFRS”), as prescribed in Article 5, Clause 1 of the Act on External Audit of Stock\nCompanies, Etc. of the Republic of Korea.\nThese financial statements are separate financial statements in accordance with K-IFRS No.1027, ‘Separate\nFinancial Statements’ presented by a parent, an investor in an associate or a venture in a jointly controlled\nentity, in which the investments are accounted for on the basis of the direct equity interest rather than on\nthe basis of the reported results and net assets of the investees.\nThe separate financial statements were authorized for issue by the Board of Directors on February 7 , 2023\nand will be submitted for approval to the stockholder’s meeting to be held on March 28, 2023.\n(1) Basis of measurement\nThe separate financial statements have been prepared on a historical cost basis except for the following\nmaterial items in the statement of financial position:\n Derivative financial instruments measured at fair value\n Financial assets measured at FVTPL measured at fair value\n Financial assets measured at FVOCI measured at fair value\n Lands measured at fair value\n Liabilities for defined benefit plans recognized at the net of the total present value of defined benefit\nobligations less the fair value of plan assets\n(2) Functional and presentation currency\nThe separate financial statements are prepared and presented in Korean won, which is the Company’s\nfunctional currency and the currency of the primary economic environment in which the Company operates.\nThe company’s financial statements are prepared and presented in Korean won, which is the Company’s\nfunctional currency and presentation currency.\n(3) Use of estimates and judgments\nThe preparation of the separate financial statements in conformity with K-IFRS requires management to\nmake judgments, estimates and assumptions that affect the application of accounting policies and the\nreported amounts of assets, liabilities, income and expenses. Actual results may differ from these\nestimates.\nEstimates and underlying assumptions are review",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_company_type",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 1:\n\nHYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Financial Statements\nDecember 31, 2022\n(With Independent Auditors’ Report Thereon)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_key_financials",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "sales 9065348m, operating profit: -286797m, profit: -350076m",
      "golden_context": "Page 78:\n\nming arts center, leisure sports facilities and others.\n(1) The financial performance of each reportable segment for the years ended December 31, 2022 and 2021 is\nas follows:\n(In millions of won) 2022\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2022 is included.\n(In millions of won) 2021\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2021 is included.\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,467,204 (123,567) (48,225) 135,578\n785,281 (152,570) (175,442) 22,908\n1,734,899 173,201 153,219 62,447\n77,964 (183,861) (279,628) 32,233\nW 9,065,348 (286,797) (350,076) 253,166\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,320,638 (192,071) (169,980) 128,064\n419,162 (169,617) (189,653) 23,428\n1,491,725 132,618 113,264 53,770\n72,471 (571,549) (567,764) 34,096\nW 8,303,996 (800,619) (814,133) 239,358",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_revenue",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "sales 9065348m",
      "golden_context": "Page 78:\n\nming arts center, leisure sports facilities and others.\n(1) The financial performance of each reportable segment for the years ended December 31, 2022 and 2021 is\nas follows:\n(In millions of won) 2022\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2022 is included.\n(In millions of won) 2021\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2021 is included.\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,467,204 (123,567) (48,225) 135,578\n785,281 (152,570) (175,442) 22,908\n1,734,899 173,201 153,219 62,447\n77,964 (183,861) (279,628) 32,233\nW 9,065,348 (286,797) (350,076) 253,166\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,320,638 (192,071) (169,980) 128,064\n419,162 (169,617) (189,653) 23,428\n1,491,725 132,618 113,264 53,770\n72,471 (571,549) (567,764) 34,096\nW 8,303,996 (800,619) (814,133) 239,358",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_revenue_growth",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "sales 9065348m, prior year: 8303996m",
      "golden_context": "Page 78:\n\nming arts center, leisure sports facilities and others.\n(1) The financial performance of each reportable segment for the years ended December 31, 2022 and 2021 is\nas follows:\n(In millions of won) 2022\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2022 is included.\n(In millions of won) 2021\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2021 is included.\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,467,204 (123,567) (48,225) 135,578\n785,281 (152,570) (175,442) 22,908\n1,734,899 173,201 153,219 62,447\n77,964 (183,861) (279,628) 32,233\nW 9,065,348 (286,797) (350,076) 253,166\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,320,638 (192,071) (169,980) 128,064\n419,162 (169,617) (189,653) 23,428\n1,491,725 132,618 113,264 53,770\n72,471 (571,549) (567,764) 34,096\nW 8,303,996 (800,619) (814,133) 239,358",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000488_segments",
      "report_id": "ID_000488",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2022,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Shipbuilding; Offshore, Industrial Plant and Engineering; Engine and Machinery; Others",
      "golden_context": "Page 78:\n\nHYUNDAI HEAVY INDUSTRIES CO., LTD.\nNotes to the Separate Financial Statements\nFor the years ended December 31, 2022 and 2021\n31. Operating Segments\nThe Company has the following four strategic divisions, which are its reportable segments. These\nstrategic operating units offer different products and services and are managed separately because they\nrequire different technology and marketing strategies. The chief executive officer (CEO) reviews internal\nreports of each strategic operating unit at least quarterly.\n(i) Shipbuilding: Manufacturing and sale of VLCCs, containerships, P/C ships, LNG carriers, warships and\n(ii) (iii) (iv) others\nOffshore, Industrial Plant and Engineering: Manufacturing and installation of offshore facilities, floating\nunits, co-generating power plants, and processing equipment\nEngine and Machinery: Manufacturing and sale of engines for ships, diesel power plants, industrial and\nmarine pumps and hydraulic machinery\nOthers: Operating performing arts center, leisure sports facilities and others.\n(1) The financial performance of each reportable segment for the years ended December 31, 2022 and 2021 is\nas follows:\n(In millions of won) 2022\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2022 is included.\n(In millions of won) 2021\nShipbuilding Offshore and Industrial Plant Engineering Engine and Machinery Others (*) Depreciation on the right-of-use assets for the year ended December 31, 2021 is included.\nSales\nOperating\nprofit (loss)\nProfit (Loss)\nfor the year\nDepreciation\nand\namortization(*)\nW 6,467,204 (123,567) (48,225) 135,578\n785,281 (152,570) (175,442) 22,908\n1,734,899 173,201 153,219 62,447\n77,964 (183,861) (279,628) 32,233\nW 9,065,348 (286,797)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_cash_flow",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 180633124k, investing: -499009139k, financing: 502795602k",
      "golden_context": "Page 12:\n\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Cash Flows\nFor the years ended December 31, 2023 and 2022\n(In thousands of won)\nNote 2023 2022\nCash flows from operating activities\nProfit (loss) for the year W 21,329,458 (350,075,802)\nAdjustments 229,774,844 456,070,392\nCash generated from operations 39 251,104,302 105,994,590\nInterest received 47,931,597 41,090,669\nInterest paid (115,960,281) (76,706,938)\nDividends received 20,568 37,708\nIncome taxes refund (paid) (2,463,062) (4,727,117)\nNet cash provided by operating activities 180,633,124 65,688,912\nCash flows from investing activities\nProceeds from collection of short-term financial assets 161,000,000 746,299,513\nProceeds from collection of short-term other receivables - 5,666,035\nProceeds from collection of long-term financial assets - 6,000\nProceeds from collection of long-term other receivables 2,114,047 151,655\nProceeds from sales of property, plant and equipment 9,952,748 12,796,136\nProceeds from sales of intangible assets - 500,000\nProceeds from sales of non-current assets held for sale - 4,719,315\nIncrease in cash from business transfers 857,404 Acquisition of short-term financial assets (131,000,000) (755,040,653)\nAcquisition of investments in subsidiary and associate (41,418,513) (29,000,000)\nProceeds from sales of investments in subsidiary and associate - 165,115\nAcquisition of long-term financial assets (1,007,959) Acquisition of long-term other receivables (164,977) (4,469,669)\nAcquisition of property, plant and equipment (461,784,185) (476,532,164)\nAcquisition of intangible assets (34,365,704) (29,239,143)\nDecrease in cash from business transfers (3,192,000) Net cash used in investing activities (499,009,139) (523,977,860)\nCash flows from financing activities\nProceeds from short-term financial liabilities 878,475,914 621,413,028\nProceeds from long-term financial liabilities 1,520,610,000 365,490,000\nRepayment of financial liabilities (1,882,523,741) (1,919,105,866)\nRepayment of lease liabilities (13,766,571) (9,609,449)\nNet cash provided (used in) financing activities 502,795,602 (941,812,287)\nEffects of exchange rate changes on cash and cash equivalents (7,475,077) (13,775,202)\nNet increase (decrease) in cash and cash equivalents 176,944,510 (1,413,876,437)\nCash and cash equivalents at January 1 723,249,202 2,137,125,639\nCash and cash equivalents at December 31 W 900,193,712 723,249,202\nSee accompanying notes to the separate financial statements.\n10\n-\n-\n-\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nNotes to the Separate Financial Statements\nFor the years ended December 31, 2023 and 2022\n1. Reporting Entity\nHD Hyundai Heavy Industries Co., Ltd. (the “Company”) was newly established through a split-off from HD\nKorea Shipbuilding & Offshore Engineering Co., Ltd. (known as Hyundai Heavy Industries Co., Ltd. before\nsplit-off, existing entity) on June 1, 2019 (inception date) and is engaged in the manufacture and sale of\nships, offshore structures, plants, engines and other products. The Company was listed on the Korea\nExchange in September 2021. The Company’s head office is located in Ulsan. As of December 31, 2023,\nthe Company’s major stockholder is the HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (78.0%).\n2. Basis of Preparation\nThe separate financial statements have been prepared in accordance with Korean International Financial\nReporting Standards (“K-IFRS”), as prescribed in Article 5, Clause 1 of the Act on External Audit of Stock\nCompanies, Etc. of the Republic of Korea.\nThese financial statements are separate financial statements in accordance with K-IFRS No.1027, ‘Separate\nFinancial Statements’ presented by a parent, an investor in an associate or a venture in a jointly controlled\nentity, in which the investments are accounted for on the basis of the direct equity interest rather than on\nthe basis of the reported results and net assets of the investees.\nThe separate financial statements were authorized for issue by the Board of Directors on February 6, 2024\nand will be submitted for approval to the stockholder’s meeting to be held on March 26, 2024.\n(1) Basis of measurement\nThe separate financial statements have been prepared on a historical cost basis except for the following\nmaterial items in the statement of financial position:\n Derivative financial instruments measured at fair value\n Financial assets measured at FVTPL measured at fair value\n Financial assets measured a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_company_type",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 1:\n\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Financial Statements\nDecember 31, 2023 and 2022\n(With Independent Auditors’ Report Thereon)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_key_financials",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "key_financials",
      "golden_answer": "Sales: 11'957'982'952k, gross profit: 648'513'651k, operating profit: 177'805'976k",
      "golden_context": "Page 10:\n\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Comprehensive Loss\nFor the years ended December 31, 2023 and 2022\n(In thousands of won, except per share information)\n21,329,458 (350,075,802)\nNote 2023 2022\nSales 26,31,32,40,44 W 11,957,982,952 9,065,348,185\nCost of sales 10,26,34,40,44 11,309,469,301 8,902,373,908\nGross profit 648,513,651 162,974,277\nSelling, general and administrative expenses 33,34,40 470,707,675 449,771,525\nOperating profit (loss) 177,805,976 (286,797,248)\nFinance income 26,35,40 627,736,808 1,139,051,565\nFinance costs 26,35,40 1,123,425,805 1,591,454,391\nOther non-operating income 26,36,40 579,095,017 812,607,188\nOther non-operating expenses 26,36,40 231,201,855 492,902,079\nProfit (loss) before income tax 30,010,141 (419,494,965)\nIncome tax expense (benefit) 37 8,680,683 (69,419,163)\nProfit (loss) for the year Other comprehensive income (loss) 26,29,40\nItems that are or may be reclassified subsequently to\nprofit or loss:\nEffective portion of changes in fair value of cash flow\nhedges (10,298,671) 525,597\nTotal items that are or may be reclassified\nsubsequently to profit or loss Items that will not be reclassified to profit or loss:\nChanges in fair value of financial assets measured at\nFVOCI (63) (186)\nActuarial gains and losses (95,215,051) 43,307,734\nRevaluation of property, plant and equipment 739,261 2,227,649\nTotal items that will not be reclassified to profit or loss Other comprehensive income (loss) for the year, net\nof income tax (104,774,524) 46,060,794\nTotal comprehensive loss for the year Earnings (loss) per share\nBasic earnings (loss) per share (In won) 38 W 240 (3,943)\n(10,298,671) 525,597\n(94,475,853) 45,535,197\nW (83,445,066) (304,015,008)\nSee accompanying notes to the separate financial statements.\n8\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Changes in Equity\nFor the years ended December 31, 2023 and 2022\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings Total equity\nBalance at January 1, 2022 W 443,865,580 3,118,364,962 (1,411,000) 881,517,909 1,151,795,836 5,594,133,287\nTotal comprehensive income (loss) for\nthe year\nLoss for the year - - - - (350,075,802) (350,075,802)\nChanges in fair value of financial assets\nmeasured at FVOCI -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_revenue",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue",
      "golden_answer": "sales: 11957982952k",
      "golden_context": "Page 10:\n\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Comprehensive Loss\nFor the years ended December 31, 2023 and 2022\n(In thousands of won, except per share information)\n21,329,458 (350,075,802)\nNote 2023 2022\nSales 26,31,32,40,44 W 11,957,982,952 9,065,348,185\nCost of sales 10,26,34,40,44 11,309,469,301 8,902,373,908\nGross profit 648,513,651 162,974,277\nSelling, general and administrative expenses 33,34,40 470,707,675 449,771,525\nOperating profit (loss) 177,805,976 (286,797,248)\nFinance income 26,35,40 627,736,808 1,139,051,565\nFinance costs 26,35,40 1,123,425,805 1,591,454,391\nOther non-operating income 26,36,40 579,095,017 812,607,188\nOther non-operating expenses 26,36,40 231,201,855 492,902,079\nProfit (loss) before income tax 30,010,141 (419,494,965)\nIncome tax expense (benefit) 37 8,680,683 (69,419,163)\nProfit (loss) for the year Other comprehensive income (loss) 26,29,40\nItems that are or may be reclassified subsequently to\nprofit or loss:\nEffective portion of changes in fair value of cash flow\nhedges (10,298,671) 525,597\nTotal items that are or may be reclassified\nsubsequently to profit or loss Items that will not be reclassified to profit or loss:\nChanges in fair value of financial assets measured at\nFVOCI (63) (186)\nActuarial gains and losses (95,215,051) 43,307,734\nRevaluation of property, plant and equipment 739,261 2,227,649\nTotal items that will not be reclassified to profit or loss Other comprehensive income (loss) for the year, net\nof income tax (104,774,524) 46,060,794\nTotal comprehensive loss for the year Earnings (loss) per share\nBasic earnings (loss) per share (In won) 38 W 240 (3,943)\n(10,298,671) 525,597\n(94,475,853) 45,535,197\nW (83,445,066) (304,015,008)\nSee accompanying notes to the separate financial statements.\n8\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Changes in Equity\nFor the years ended December 31, 2023 and 2022\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings Total equity\nBalance at January 1, 2022 W 443,865,580 3,118,364,962 (1,411,000) 881,517,909 1,151,795,836 5,594,133,287\nTotal comprehensive income (loss) for\nthe year\nLoss for the year - - - - (350,075,802) (350,075,802)\nChanges in fair value of financial assets\nmeasured at FVOCI -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_revenue_growth",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "revenue_growth",
      "golden_answer": "sales: 11957982952k, prior year: 9065348185k",
      "golden_context": "Page 10:\n\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Comprehensive Loss\nFor the years ended December 31, 2023 and 2022\n(In thousands of won, except per share information)\n21,329,458 (350,075,802)\nNote 2023 2022\nSales 26,31,32,40,44 W 11,957,982,952 9,065,348,185\nCost of sales 10,26,34,40,44 11,309,469,301 8,902,373,908\nGross profit 648,513,651 162,974,277\nSelling, general and administrative expenses 33,34,40 470,707,675 449,771,525\nOperating profit (loss) 177,805,976 (286,797,248)\nFinance income 26,35,40 627,736,808 1,139,051,565\nFinance costs 26,35,40 1,123,425,805 1,591,454,391\nOther non-operating income 26,36,40 579,095,017 812,607,188\nOther non-operating expenses 26,36,40 231,201,855 492,902,079\nProfit (loss) before income tax 30,010,141 (419,494,965)\nIncome tax expense (benefit) 37 8,680,683 (69,419,163)\nProfit (loss) for the year Other comprehensive income (loss) 26,29,40\nItems that are or may be reclassified subsequently to\nprofit or loss:\nEffective portion of changes in fair value of cash flow\nhedges (10,298,671) 525,597\nTotal items that are or may be reclassified\nsubsequently to profit or loss Items that will not be reclassified to profit or loss:\nChanges in fair value of financial assets measured at\nFVOCI (63) (186)\nActuarial gains and losses (95,215,051) 43,307,734\nRevaluation of property, plant and equipment 739,261 2,227,649\nTotal items that will not be reclassified to profit or loss Other comprehensive income (loss) for the year, net\nof income tax (104,774,524) 46,060,794\nTotal comprehensive loss for the year Earnings (loss) per share\nBasic earnings (loss) per share (In won) 38 W 240 (3,943)\n(10,298,671) 525,597\n(94,475,853) 45,535,197\nW (83,445,066) (304,015,008)\nSee accompanying notes to the separate financial statements.\n8\nHD HYUNDAI HEAVY INDUSTRIES CO., LTD.\nSeparate Statements of Changes in Equity\nFor the years ended December 31, 2023 and 2022\n(In thousands of won)\nCommon\nstock\nCapital\nsurplus\nCapital\nadjustments\nAccumulated\nother\ncomprehensive\nincome\nRetained\nearnings Total equity\nBalance at January 1, 2022 W 443,865,580 3,118,364,962 (1,411,000) 881,517,909 1,151,795,836 5,594,133,287\nTotal comprehensive income (loss) for\nthe year\nLoss for the year - - - - (350,075,802) (350,075,802)\nChanges in fair value of financial assets\nmeasured at FVOCI -",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000489_segments",
      "report_id": "ID_000489",
      "company_name": "Hyundai Heavy Industries Co",
      "year": 2023,
      "country": "KR",
      "industry": "Consumer Discretionary",
      "question_type": "segments",
      "golden_answer": "Shipbuilding; Offshore, Industrial Plant and Engineering; Engine and Machinery; Others",
      "golden_context": "Page 64:\n\n32. Operating Segments\n(i) (ii) The Company has the following four strategic divisions, which are its reportable segments. These\nstrategic operating units offer different products and services and are managed separately because they\nrequire different technology and marketing strategies. The chief executive officer (CEO) reviews internal\nreports of each strategic operating unit at least quarterly.\nShipbuilding: Manufacturing and sale of VLCCs, containerships, P/C ships, LNG carriers, warships and\n(iii) (iv) others\nOffshore, Industrial Plant and Engineering: Manufacturing and installation of offshore facilities, floating\nunits, co-generating power plants, and processing equipment\nEngine and Machinery: Manufacturing and sale of engines for ships, diesel power plants, industrial and\nmarine pumps and hydraulic machinery\nOthers: Operating performing arts center, leisure sports facilities and others.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_cash_flow",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -209'227'414k\nInvesting:  -14'779'442k\nFinancing: -24'961'605k",
      "golden_context": "Page 396:\n\nON HAI PRECISION INDUSTRY CO., LTD.\nParent Company Only Statements of Cash Flows\nDecember 31, 2021 and 2020\nUnit: Expressed in thousands of New Taiwan Dollars\nNotes 2021 2020\nCASH FLOWS FROM OPERATING ACTIVITIES\nProfit before tax $ 154,330,726 $ 114,025,251\nAdjustments\nAdjustments to reconcile profit(loss)\nEffect of foreign exchange on foreign\ncurrency cash ( 148,265 ) ( 167,481 )\nDepreciation expense 6 (23) 453,547 458,899\nAmortization expense 6 (23) 377,814 347,786\nLoss on expected credit impairment 12 (2) ( 1,310,383 ) 1,017,112\nGain on disposal or retirement of property,\n6 (22)\nplant and equipment\n( 30,210 ) ( 30,505 )\nNet (Gain) loss on financial assets or\n6 (22)\nliabilities measured at fair value through profit or\nloss\n6,394,642 4,950,322\nShare of profit or loss of associates and joint\n6 (7)\nventures accounted for under the equity method\n( 127,570,302 ) ( 71,884,083 )\nValuation of long-term loans in foreign\ncurrency - 32,472\nInterest expense 6 (25) 2,239,223 2,955,602\nInterest income 6 (21) ( 294,831 ) ( 847,867 )\nDividend income ( 58,433 ) -\nChanges in operating assets and liabilities\nChanges in operating assets, net\nFinancial assets mandatorily measured at\nfair value through profit or loss ( 6,907,286 ) ( 4,543,895 )\nNotes receivable ( 2,261 ) 10,252\nAccounts receivable ( 203,576,920 ) 67,534,666\nAccounts receivable – related parties 85,475,225 ( 73,765,660 )\nOther receivables 299,143 290,462\nInventory 2,906,984 15,598,657\nPrepayments ( 169,773 ) ( 14,473 )\nChanges in operating liabilities, net\nAccounts payable ( 32,960,810 ) 44,915,487\nAccounts payable – related parties ( 82,824,930 ) 140,001,342\nOther payables ( 2,877,404 ) ( 77,861,715 )\nUnearned revenue 1,539,467 3,603,385\nOther current liabilities 1,265,103 4,001,655\nProvisions for liabilities - current ( 79,638 ) ( 291,065 )\nAccrued pension liabilities ( 32,540 ) ( 33,919 )\nCash inflow (outflow) generated from operating\nactivities ( 203,562,112 ) 170,302,687\nIncome taxes paid ( 5,665,302 ) ( 7,021,501 )\nCash inflow (outflow) generated from\noperating activities, net ( 209,227,414 ) 163,281,186\n(Continued)\n\n\nHON HAI PRECISION INDUSTRY CO., LTD.\nParent Company Only Statements of Cash Flows\nDecember 31, 2021 and 2020\nUnit: Expressed in thousands of New Taiwan Dollars\nNotes 2021 2020\nCASH FLOWS FROM INVESTING ACTIVITIES\nAcquisition of investments accounted for under\n6(7)\nthe equity method\n( $ 7,627,005 ) ( $ 13,277,607 )\nAcquisition of property, plant and equipment 6 (28) ( 2,935,280 ) ( 470,260 )\nDecrease (increase) in other assets 23,547 ( 169,143 )\nOther receivables - related parties 5,109,325 22,182,739\nDecrease (increase) in financial assets at amortized\ncost - current 3,000,000 ( 3,000,000 )\nAcquisition of financial assets measured at\namortized cost - increase in non-current ( 27,400 ) -\nDisposal of property, plant and equipment 6 (28) 96,230 44,804\nDecrease in receivables arising from purchase of\nraw materials on behalf of others ( 14,989,028 ) 110,138,809\nInterest received 283,764 844,961\nDividend received 2,286,405 21,586,132\nReturn of capital from investments accounted for\n6 (7)\nusing equity method\n- 5,721,800\nCash inflow generated from investing\nactivities, net ( 14,779,442 ) 143,602,235\nCASH FLOWS FROM FINANCING ACTIVITIES\nIncrease in short-term loans 6(28) 27,060,715 943,655\nIncrease (decrease) in short-term notes and bills\n6(28)\npayables\n( 16,300,000 ) 8,700,000\nIssuance of corporate bonds 6(28) 59,135,638 33,050,000\nRepayments of corporate bonds 6(28) ( 23,700,000 ) ( 27,100,000 )\nRedemption of overseas corporate bonds 6(28) - ( 1,817,558 )\nRepayments of long-term loans 6(28) ( 13,500,000 ) ( 6,574,507 )\nCash dividends paid 6(18) ( 55,451,962 ) ( 58,224,561 )\nInterest Paid ( 2,119,632 ) ( 2,724,823 )\nRepayment of leasing principal 6(28) ( 86,364 ) ( 101,406 )\nCash outflow generated from financing\nactivities, net ( 24,961,605 ) ( 53,849,200 )\nEffects of foreign exchange rates 148,265 167,481\nIncrease (decrease) in cash and cash equivalents ( 248,820,196 ) 253,201,702\nCash and cash equivalents, beginning of period 283,147,770 29,946,068\nCash and cash equivalents, end of period $ 34,327,574 $ 283,147,770\nThe accompanying notes are an integral part of these parent company only financial statements.\nPlease refer to it as well.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_company_type",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "LTD",
      "golden_context": "Page 2:\n\nTHIS IS A TRANSLATION OF THE 2021 ANNUAL REPORT (THE “ANNUAL REPORT”) OF HON HAI\nPRECISION INDUSTRY CO., LTD. (THE “COMPANY”). THIS TRANSLATION IS INTENDED FOR\nREFERENCE ONLY AND NOTHING ELSE, THE COMPANY HEREBY DISCLAIMS ANY AND ALL\nLIABILITIES WHATSOEVER FOR THE TRANSLATION. THE CHINESE TEXT OF THE ANNUAL\nREPORT SHALL GOVERN ANY AND ALL MATTERS RELATED TO THE INTERPRETATION OF THE\nSUBJECT MATTER STATED HEREIN.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_key_financials",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue: 5994173882k, gross profit: 362127046k, net operating income: 148959492k",
      "golden_context": "Page 147:\n\nConcise Consolidated Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nFinancial Information for the Most Recent 5 Years\nItem\n2017 2018 2019 2020 2021\nOperating Revenue 4,706,736,09\n6\n5,293,803,02\n2\n5,342,810,99\n5\n5,358,023,06\n5\n5,994,173,882\nGross Profit (Loss) from\nOperations\n303,006,947 332,029,904 315,868,425 302,918,723 362,127,046\nNet Operating Income 112,570,431 136,146,875 114,896,886 110,827,448 148,959,492\nNon-Operating Income and\nExpenses\n70,302,192 34,104,567 48,981,061 34,644,786 44,612,251\nProfit (Loss) from\nContinuing Operations\nBefore Tax\n182,872,623 170,251,442 163,877,947 145,472,234 193,571,743\nProfit (Loss) from\nContinuing Operations\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nLoss from Discontinuing\nOperations\n- - - - -\nOther comprehensive\nincome, net\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nTotal comprehensive\nincome\n(56,392,558) (28,938,481) (44,620,309) 7,172,540 (3,911,702)\nProfit (loss), attributable to\nowners of parent\n78,981,970 100,896,944 87,564,779 121,498,127 149,911,339\nProfit (loss), attributable to\nnon-controlling interests\n138,734,401 129,065,105 115,308,736 101,794,807 139,320,332\nComprehensive income,\nattributable to owners of\nparent\n(3,359,873) 770,320 16,876,352 12,530,780 14,502,709\nComprehensive income,\nattributable to non-\ncontrolling interests\n78,641,529 103,120,437 74,706,141 112,236,799 138,007,616\nBasic earnings per share\n(Note)\n340,441 (2,223,493) 12,858,638 9,261,328 11,903,723\nOther comprehensive\nincome, net\n8.01 8.03 8.32 7.34 10.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_revenue",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Operating revenue: 5994173882k",
      "golden_context": "Page 147:\n\nConcise Consolidated Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nFinancial Information for the Most Recent 5 Years\nItem\n2017 2018 2019 2020 2021\nOperating Revenue 4,706,736,09\n6\n5,293,803,02\n2\n5,342,810,99\n5\n5,358,023,06\n5\n5,994,173,882\nGross Profit (Loss) from\nOperations\n303,006,947 332,029,904 315,868,425 302,918,723 362,127,046\nNet Operating Income 112,570,431 136,146,875 114,896,886 110,827,448 148,959,492\nNon-Operating Income and\nExpenses\n70,302,192 34,104,567 48,981,061 34,644,786 44,612,251\nProfit (Loss) from\nContinuing Operations\nBefore Tax\n182,872,623 170,251,442 163,877,947 145,472,234 193,571,743\nProfit (Loss) from\nContinuing Operations\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nLoss from Discontinuing\nOperations\n- - - - -\nOther comprehensive\nincome, net\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nTotal comprehensive\nincome\n(56,392,558) (28,938,481) (44,620,309) 7,172,540 (3,911,702)\nProfit (loss), attributable to\nowners of parent\n78,981,970 100,896,944 87,564,779 121,498,127 149,911,339\nProfit (loss), attributable to\nnon-controlling interests\n138,734,401 129,065,105 115,308,736 101,794,807 139,320,332\nComprehensive income,\nattributable to owners of\nparent\n(3,359,873) 770,320 16,876,352 12,530,780 14,502,709\nComprehensive income,\nattributable to non-\ncontrolling interests\n78,641,529 103,120,437 74,706,141 112,236,799 138,007,616\nBasic earnings per share\n(Note)\n340,441 (2,223,493) 12,858,638 9,261,328 11,903,723\nOther comprehensive\nincome, net\n8.01 8.03 8.32 7.34 10.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_revenue_growth",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenue: 5994173882k, prior year: 5358023065k",
      "golden_context": "Page 147:\n\nConcise Consolidated Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nFinancial Information for the Most Recent 5 Years\nItem\n2017 2018 2019 2020 2021\nOperating Revenue 4,706,736,09\n6\n5,293,803,02\n2\n5,342,810,99\n5\n5,358,023,06\n5\n5,994,173,882\nGross Profit (Loss) from\nOperations\n303,006,947 332,029,904 315,868,425 302,918,723 362,127,046\nNet Operating Income 112,570,431 136,146,875 114,896,886 110,827,448 148,959,492\nNon-Operating Income and\nExpenses\n70,302,192 34,104,567 48,981,061 34,644,786 44,612,251\nProfit (Loss) from\nContinuing Operations\nBefore Tax\n182,872,623 170,251,442 163,877,947 145,472,234 193,571,743\nProfit (Loss) from\nContinuing Operations\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nLoss from Discontinuing\nOperations\n- - - - -\nOther comprehensive\nincome, net\n135,374,528 129,835,425 132,185,088 114,325,587 153,823,041\nTotal comprehensive\nincome\n(56,392,558) (28,938,481) (44,620,309) 7,172,540 (3,911,702)\nProfit (loss), attributable to\nowners of parent\n78,981,970 100,896,944 87,564,779 121,498,127 149,911,339\nProfit (loss), attributable to\nnon-controlling interests\n138,734,401 129,065,105 115,308,736 101,794,807 139,320,332\nComprehensive income,\nattributable to owners of\nparent\n(3,359,873) 770,320 16,876,352 12,530,780 14,502,709\nComprehensive income,\nattributable to non-\ncontrolling interests\n78,641,529 103,120,437 74,706,141 112,236,799 138,007,616\nBasic earnings per share\n(Note)\n340,441 (2,223,493) 12,858,638 9,261,328 11,903,723\nOther comprehensive\nincome, net\n8.01 8.03 8.32 7.34 10.05",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000490_segments",
      "report_id": "ID_000490",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Hon Hai parent group, FII subgroup, FIH subgroup, Others",
      "golden_context": "Page 276:\n\n(3)\nA. The segment reports reported to the chief operating decision maker for making operating decisions for each segment is measured in a manner\nconsistent with that in the statement of comprehensive income. Thus, the reconciliation is not required.\nB. The segment information provided to the chief operating decision maker for the reportable segments is as follows:\n-\n2021 (in millions) Hon Hai parent group FII subgroup FIH subgroup Others Number of write-offs Consolidation\nExternal revenue 4,279,459 $ 1,892,259 $ $ 203,403\n$ 125,960\n506,907) ($ 5,994,174 $\nInternal revenue 78,555 14,518 47,046 15,243 ( 155,362)\nOperating revenue 4,358,014 1,906,777 250,449 141,203 ( 662,269)\n5,994,174\nDepreciation and amortisation 52,061 10,929 5,304 7,187 - 75,481\nSegment operating income (loss) 57,616 89,118 39 ( 1,446)\n3,632 148,959\n2020 (in millions) Hon Hai parent group FII subgroup FIH subgroup Others Number of write-offs Consolidation\nExternal revenue 3,596,459 $ 1,828,985 $ 233,800 $ 131,400 $ 432,621) ($ 5,358,023 $\nInternal revenue 76,971 17,867 41,042 15,999 ( 151,879)\nOperating revenue 3,673,430 1,846,852 274,842 147,399 ( 584,500)\n5,358,023\nDepreciation and amortisation 41,019 10,417 5,800 7,878 - 65,114\n( 721)\n( 8,069 110,827\n-\nSegment operating income (loss) 27,615 79,800 3,936)\nOthers: In includes other listed subsidiaries and its subsidiaries.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_cash_flow",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Cash flow from operating activities: 4129239705k",
      "golden_context": "Page 631:\n\nash flow from\noperating\nactivities (2)\nCash flow\nin/(out) (3)\nCash ending\nbalance/(shortage)\n(1)+(2)-(3)\nPlan for cash ending\nbalance shortage\nInvestment\nactivities\nFinancing\nactivities\n42,059,158 4,129,239,705 3,946,417,336 224,881,527 - -\nC. Cash Flow Analysis\n(1) Liquidity Analysis of Recent 2 Years\nVariance Analysis:\n1. Cash flow ratio: In response to the shortage of inventory in the supply chain and the impact of Covid-19 on\nfactory production at the end of the year, the inventory amount was higher than the previous year, resulting\nin cash outflow. However, the cash flow of accounts receivable generated from external sales is still\nsufficient to pay. Therefore, the cash flow ratio increased in 2022.\n2. Cash flow adequacy ratio: The increase in external investment due to the development of the 3+3 strategy\nand the increase in the aforementioned inventory level resulted in higher cash outflow in 2022. However,\ndue to the robustness of business activities of the Company in 2022, the cash inflow from operating activities\nalso increased significantly compared with that in 2021, so the cash flow allowance ratio increased.\n3. Cash reinvestment ratio: Due to the robustness of the Company's business operations in 2022, the cash\ninflow from operating activities increased significantly compared to 2021, so the cash reinvestment ratio\nincreased in 2022.\n(2) (2) Cash Flow Forecast for the Coming Year\nCash Flow Forecast for the Coming Year\nUnit: NT$ Thousand\nCash flow variance analysis for year 2023:\n1. 2. 3. Operating activities: The Company expects revenue and profit to continue to grow.\nInvestment activities: The Company expects expansion of production facilities to meet business demand.\nFinancing activities: This year, the Company expects to distribute cash dividends, borrow short-term loans,\nand propose to issue unsecured bond",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_company_type",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 2:\n\nTHIS IS A TRANSLATION OF THE 2022 ANNUAL REPORT (THE “ANNUAL REPORT”) OF HON HAI\nPRECISION INDUSTRY CO., LTD. (THE “COMPANY”). THIS TRANSLATION IS INTENDED FOR\nREFERENCE ONLY AND NOTHING ELSE, THE COMPANY HEREBY DISCLAIMS ANY AND ALL\nLIABILITIES WHATSOEVER FOR THE TRANSLATION. THE CHINESE TEXT OF THE ANNUAL\nREPORT SHALL GOVERN ANY AND ALL MATTERS RELATED TO THE INTERPRETATION OF THE\nSUBJECT MATTER STATED HEREIN.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_key_financials",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 6626997m, gross profit: 400085m, operating income: 173788m, net profit: 141483m",
      "golden_context": "Page 9:\n\nvantages, including Hon Hai. The global trend of emphasizing sustainable\ndevelopment, the Company has strengthened ESG goals and implementation on one hand; on\nthe other we also actively develop \"3+3\" sustainable business opportunities including three key\nindustries: electric vehicles, digital health, and robotics industries. With another growth axis\nbesides the ICT foundation, Hon Hai's new business has progressed rapidly in the past three\nyears, and execution has been according to plan. In the future, we will use our global niche,\nsound technology, vertical integration, and execution efficiency to work with world-class\ncustomers to truly take hold of the ICT competitive advantages in the post-pandemic era and\nthe green energy opportunities brought about by the electric vehicle industry.\nFinancial Performance\nIn 2022, we successfully overcame the disruptions and performed above expectations despite\ndisruptions caused by the pandemic and rising inflation. The annual consolidated revenue\nreached NT$6.627 trillion, an increase of NT$632.8 billion over the previous year, an increase\nof approximately 11%, and a new record high; the net profit attributable to the parent company\nwas NT$141.5 billion, and the earnings per share was NT$10.21, an increase of about 2% over\nthe previous year, and earnings per share is also a new high since 2008.\nFinancial and Profitability Analysis\nUnit: Million NTD 2018 2019 2020 2021 2022\nRevenue 5,293,803 5,342,811 5,358,023 5,994,174 6,626,997\nGross Profit 332,030 315,868 302,919 362,127 400,085\nOperating Income 136,147 114,897 110,827 148,959 173,788\nNet Profit 129,065 115,309 101,795 139,320 141,483\nEPS (Unit: NTD) 8.03 8.32 7.34 10.05 10.21\nGross Profit Margin 6.27% 5.91% 5.65% 6.04% 6.04%\nOperating Profit Margin 2.57% 2.15% 2.07% 2.49% 2.62%\nNet Profit Margin 2.44% 2.16% 1.90% 2.32% 2.13%\nDebt Ratio 60.59% 57.85% 59.88% 59.75% 60.07%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_revenue",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue: 6626997m",
      "golden_context": "Page 9:\n\nvantages, including Hon Hai. The global trend of emphasizing sustainable\ndevelopment, the Company has strengthened ESG goals and implementation on one hand; on\nthe other we also actively develop \"3+3\" sustainable business opportunities including three key\nindustries: electric vehicles, digital health, and robotics industries. With another growth axis\nbesides the ICT foundation, Hon Hai's new business has progressed rapidly in the past three\nyears, and execution has been according to plan. In the future, we will use our global niche,\nsound technology, vertical integration, and execution efficiency to work with world-class\ncustomers to truly take hold of the ICT competitive advantages in the post-pandemic era and\nthe green energy opportunities brought about by the electric vehicle industry.\nFinancial Performance\nIn 2022, we successfully overcame the disruptions and performed above expectations despite\ndisruptions caused by the pandemic and rising inflation. The annual consolidated revenue\nreached NT$6.627 trillion, an increase of NT$632.8 billion over the previous year, an increase\nof approximately 11%, and a new record high; the net profit attributable to the parent company\nwas NT$141.5 billion, and the earnings per share was NT$10.21, an increase of about 2% over\nthe previous year, and earnings per share is also a new high since 2008.\nFinancial and Profitability Analysis\nUnit: Million NTD 2018 2019 2020 2021 2022\nRevenue 5,293,803 5,342,811 5,358,023 5,994,174 6,626,997\nGross Profit 332,030 315,868 302,919 362,127 400,085\nOperating Income 136,147 114,897 110,827 148,959 173,788\nNet Profit 129,065 115,309 101,795 139,320 141,483\nEPS (Unit: NTD) 8.03 8.32 7.34 10.05 10.21\nGross Profit Margin 6.27% 5.91% 5.65% 6.04% 6.04%\nOperating Profit Margin 2.57% 2.15% 2.07% 2.49% 2.62%\nNet Profit Margin 2.44% 2.16% 1.90% 2.32% 2.13%\nDebt Ratio 60.59% 57.85% 59.88% 59.75% 60.07%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_revenue_growth",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 6626997m, prior year: 5994174m",
      "golden_context": "Page 9:\n\nvantages, including Hon Hai. The global trend of emphasizing sustainable\ndevelopment, the Company has strengthened ESG goals and implementation on one hand; on\nthe other we also actively develop \"3+3\" sustainable business opportunities including three key\nindustries: electric vehicles, digital health, and robotics industries. With another growth axis\nbesides the ICT foundation, Hon Hai's new business has progressed rapidly in the past three\nyears, and execution has been according to plan. In the future, we will use our global niche,\nsound technology, vertical integration, and execution efficiency to work with world-class\ncustomers to truly take hold of the ICT competitive advantages in the post-pandemic era and\nthe green energy opportunities brought about by the electric vehicle industry.\nFinancial Performance\nIn 2022, we successfully overcame the disruptions and performed above expectations despite\ndisruptions caused by the pandemic and rising inflation. The annual consolidated revenue\nreached NT$6.627 trillion, an increase of NT$632.8 billion over the previous year, an increase\nof approximately 11%, and a new record high; the net profit attributable to the parent company\nwas NT$141.5 billion, and the earnings per share was NT$10.21, an increase of about 2% over\nthe previous year, and earnings per share is also a new high since 2008.\nFinancial and Profitability Analysis\nUnit: Million NTD 2018 2019 2020 2021 2022\nRevenue 5,293,803 5,342,811 5,358,023 5,994,174 6,626,997\nGross Profit 332,030 315,868 302,919 362,127 400,085\nOperating Income 136,147 114,897 110,827 148,959 173,788\nNet Profit 129,065 115,309 101,795 139,320 141,483\nEPS (Unit: NTD) 8.03 8.32 7.34 10.05 10.21\nGross Profit Margin 6.27% 5.91% 5.65% 6.04% 6.04%\nOperating Profit Margin 2.57% 2.15% 2.07% 2.49% 2.62%\nNet Profit Margin 2.44% 2.16% 1.90% 2.32% 2.13%\nDebt Ratio 60.59% 57.85% 59.88% 59.75% 60.07%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000491_segments",
      "report_id": "ID_000491",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "The product segments of the Company Consumer Electronic Products, Cloud Network Products,\nComputing End-products, and Components and other product.",
      "golden_context": "Page 145:\n\nthe 2050 net zero carbon emission target, introduced renewable energy, invested in\nscientific carbon emission reduction plans, and join net zero carbon emission action\nalliance, from energy saving, emission reduction, greening, We continuously put\nefforts in recycling, green energy, etc., echoing global environmental protection\ntrends\nCore Products, Main Applications, and Manufacturing Process\nThe product segments of the Company Consumer Electronic Products, Cloud Network Products,\nComputing End-products, and Components and other product. These mainly are used in mobile\ncommunication, entertainment, computing, storage, network and other consumer or commercial\nfields. The company's production process is mainly based on EMS assembly products, and the\ndesign, component development, manufacturing and assembly, quality control testing, shipment\nand other processes are carried out in accordance with customer needs.\nStatus of Core Material Suppliers\nThe Company’s manufactured products such as connectors, foundations, and assembled products\nutilize materials such as copper, plastic pellets and auric salt, steel, and the status of suppliers are\nas below:\n1. Copper\nHave strategic alliances with several suppliers, to ensure the stability of copper supply.\n2. Plastic Pellets\nDevelop connector-specific materials with domestic and international manufacturers to\nincrease quality. Prices are negotiated annually, and leverages the Company’s economy of\nscale for bulk purchases to ensure price comp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_cash_flow",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "3836106984 cash flow from operating activities",
      "golden_context": "Page 622:\n\nd to 2022, the cash reinvestment ratio in 2023 increased.\nCash beginning\nbalance (1)\nCash flow from\noperating activities\n(2)\nProjected cash\noutflow for the\nyear (3)\nProjected cash\nsurplus (deficit)\namount (1) + (2) -\n(3)\nMeasures to make up for the\nexpected cash shortage\nInvestment\nactivities\nFinancing\nactivities\n136,500,282 3,836,106,984 3,766,526,538 206,080,728 - -\nAnalysis of changes in cash flow for the current year (2024):\n1. Operating activities: The Company expe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_company_type",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 1:\n\nHON HAI PRECISION INDUSTRY CO., LTD.\nAnnual Report\n2 0 2 3",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_key_financials",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue: 3448640952k, gross profit from operations: 43207405k, operating profit and loss: 27625107k, EPS 10.25",
      "golden_context": "Page 148:\n\n4. Concise Stand-alone Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nItem\nOperating revenue Gross Profit (Loss) from\nOperations Operating profit and loss Non-operating income and\nexpenditure Net profit before tax Financial Information for the Last Five Years\n2019 2020 2021 2022 2023\n2,849,729,987 3,060,945,666 3,643,676,647 3,803,719,085 3,448,640,952\n29,138,323 60,425,788 56,245,193 53,039,295 43,207,405\n10,676,675 43,836,907 37,110,931 35,048,940 27,625,107\n109,984,599 70,188,344 117,219,795 120,109,647 129,427,708\n120,661,274 114,025,251 154,330,726 155,158,587 157,052,815\nCurrent net profit of\ncontinuing business units 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nLoss from Discontinuing\nOperations - - - - -\nOther comprehensive\nincome, net 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nOther comprehensive\nincome of the current period\n(40,602,595) 10,441,992 (1,312,716) 9,199,949 (30,479,266)\n(net after tax)\nTotal comprehensive\nincome 74,706,141 112,236,799 138,007,616 150,682,663 111,618,942\nNet profit attributable to\nowners of the parent\n- - - - -\ncompany\nProfit (loss), attributable to\nnon-controlling interests - - - - -\nTotal comprehensive income\nattributable to owners of the\n- - - - -\nparent company\nComprehensive income,\nattributable to non-\n- - controlling interests\n- - -\nEPS (NT$) 8.32 7.34 10.05 10.21 10.25\n(2) CPAs and Their Opinions for Most Recent 5-Years\nYear 2019 2020 2021 2022 Name of CPA Yung-chien, Hsu; Chien-Hung, Chou Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Audito",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_revenue",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Operating revenue: 3448640952k",
      "golden_context": "Page 148:\n\n4. Concise Stand-alone Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nItem\nOperating revenue Gross Profit (Loss) from\nOperations Operating profit and loss Non-operating income and\nexpenditure Net profit before tax Financial Information for the Last Five Years\n2019 2020 2021 2022 2023\n2,849,729,987 3,060,945,666 3,643,676,647 3,803,719,085 3,448,640,952\n29,138,323 60,425,788 56,245,193 53,039,295 43,207,405\n10,676,675 43,836,907 37,110,931 35,048,940 27,625,107\n109,984,599 70,188,344 117,219,795 120,109,647 129,427,708\n120,661,274 114,025,251 154,330,726 155,158,587 157,052,815\nCurrent net profit of\ncontinuing business units 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nLoss from Discontinuing\nOperations - - - - -\nOther comprehensive\nincome, net 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nOther comprehensive\nincome of the current period\n(40,602,595) 10,441,992 (1,312,716) 9,199,949 (30,479,266)\n(net after tax)\nTotal comprehensive\nincome 74,706,141 112,236,799 138,007,616 150,682,663 111,618,942\nNet profit attributable to\nowners of the parent\n- - - - -\ncompany\nProfit (loss), attributable to\nnon-controlling interests - - - - -\nTotal comprehensive income\nattributable to owners of the\n- - - - -\nparent company\nComprehensive income,\nattributable to non-\n- - controlling interests\n- - -\nEPS (NT$) 8.32 7.34 10.05 10.21 10.25\n(2) CPAs and Their Opinions for Most Recent 5-Years\nYear 2019 2020 2021 2022 Name of CPA Yung-chien, Hsu; Chien-Hung, Chou Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Audito",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_revenue_growth",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Operating revenue: 3448640952k, prior year: 3803719085k",
      "golden_context": "Page 148:\n\n4. Concise Stand-alone Statement of Comprehensive Income\nUnit: NT$ Thousand\nYear\nItem\nOperating revenue Gross Profit (Loss) from\nOperations Operating profit and loss Non-operating income and\nexpenditure Net profit before tax Financial Information for the Last Five Years\n2019 2020 2021 2022 2023\n2,849,729,987 3,060,945,666 3,643,676,647 3,803,719,085 3,448,640,952\n29,138,323 60,425,788 56,245,193 53,039,295 43,207,405\n10,676,675 43,836,907 37,110,931 35,048,940 27,625,107\n109,984,599 70,188,344 117,219,795 120,109,647 129,427,708\n120,661,274 114,025,251 154,330,726 155,158,587 157,052,815\nCurrent net profit of\ncontinuing business units 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nLoss from Discontinuing\nOperations - - - - -\nOther comprehensive\nincome, net 115,308,736 101,794,807 139,320,332 141,482,714 142,098,208\nOther comprehensive\nincome of the current period\n(40,602,595) 10,441,992 (1,312,716) 9,199,949 (30,479,266)\n(net after tax)\nTotal comprehensive\nincome 74,706,141 112,236,799 138,007,616 150,682,663 111,618,942\nNet profit attributable to\nowners of the parent\n- - - - -\ncompany\nProfit (loss), attributable to\nnon-controlling interests - - - - -\nTotal comprehensive income\nattributable to owners of the\n- - - - -\nparent company\nComprehensive income,\nattributable to non-\n- - controlling interests\n- - -\nEPS (NT$) 8.32 7.34 10.05 10.21 10.25\n(2) CPAs and Their Opinions for Most Recent 5-Years\nYear 2019 2020 2021 2022 Name of CPA Yung-chien, Hsu; Chien-Hung, Chou Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Yung-chien, Hsu; Patrick Hsu Audito",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000492_segments",
      "report_id": "ID_000492",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Information and communication industry, automation equipment industry, optoelectronics industry,\nprecision machinery industry, automobile industry and consumer electronics industry, as well as related\nvarious connectors, casings, radiators, assembly products, optics, and the manufacturing, sales and service\nof network cable assembly and other products.",
      "golden_context": "Page 113:\n\n cable assembly and other products.\nIn addition to ICT product, the Company continues to expand into 3 new businesses in EV, robotics, and\ndigital health, as well as the 3 core technology fields of AI, semiconductors and new-generation\ncommunications.\nIn 2023, the Group also launched three major platforms: smart manufacturing, smart EV, and smart city,\nand announced that it will transform from a technology manufacturing service provider to a platform\nsolutions company.\n2. Proportion of business\n98% of the products are 3C electronics (Computer, Communication, Consumer Electronics). The output\nand sales volume of the recent two years can be found in the table of Production and Sales.\n3. Current products\nThe products manufactured by the Company include:\n(1) Smart Consumer Electronic Products (mainly smartphones, TVs, game consoles, etc.)\nPersonal consumer electronic products, including smart phones, feature phones, wearable devices, etc.;\nas well as smart home entertainment systems and equipment, including TVs, game consoles, set-top\nboxes, speakers, etc.\n(2) Cloud and Networking Products (mainly servers, network communications and related products):\nEnterprise and consumer network communication equipment, equipment required by cloud storage,\nincluding routers, servers, edge computing, data centers, satellite communications and other related\nequipment.\n(3) Computing Products (mainly computers, tablets, etc.):\nWork computing equipment, office and workplace computing products, including desktops, notebooks,\ntablets, office machines, printers, etc.\n(4) Components and Others Product (mainly connectors, mechanical parts, services, etc.):\nUpstream manufacturing and development of key components, technical components; including\nconnectors, precision optical components, lenses, electronic components, semiconductor products,\nautomotive electronic parts, tool/mold fixtures and mechanical equipment. Additionally, logistics,\nwarehousing, software development, healthcare services, and industrial internet integration solutions\nalso fall into this category.\n4. New products, new industries and technologies planned to be developed\nThe Company actively transforms, upgrades, and promotes the transition from brawn-intensive industries\nto brain-intensive strategies of \"F1.0, F2.0, and F3.0\". In addition to the development lights-out factories\nand automation, the Company also focuses on our defined “3+3 categories” including the three industries\nof electric vehicles, robotics, and digital health; across three applications of AI, semiconductor and next\ngeneration communications.\nAmong them, electric vehicles and semiconductors will be one of the main growth drivers of the Company\nin the future. In the development of these two industries, we will continue to expand the fields of overseas\nmarkets, components, and software, as well as the localization of operations after construction (BOL) to\ncope with the industrial trend of globalization and regionalization.\nAlso, we will continue to expand our global manufacturing with local partners to allocate the best\nresources by our innovative business model – BOL Model (Build, Operate and Localize). Hon Hai uses\nthe Contract Design and Manufacturing Service (CDMS) business model to perform professional division\nof labor. Customers can focus on product differentiation and brand building, while Hon Hai focuses on\ndesign, spare parts, and the manufacturing of vehicle",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_cash_flow",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "3165464573k operating ",
      "golden_context": "Page 135:\n\nestment ratio in 2024 decreased.\n(II) Liquidity analysis for the coming year:\nUnit: NT$ Thousand\nCash balance at the\nbeginning of\nperiod (1)\nExpected cash\ninflow from\noperating activities\nfor the year (2)\nProjected cash\noutflow for the\nyear\n(3)\nProjected cash\nsurplus (deficit)\namount (1) + (2) -\n(3)\nMeasures to make up for the\nexpected cash shortage\nInvestment\nactivities\nFinancing\nactivities\n42,756,421 3,165,464,573 3,077,258,975 130,962,019 - -\nAnalysis of changes in cash flow for the current year (2025):\n1. Business activities: The Company expects that the operating revenue and profit will\ncontinue to grow.\n2. 3. Investment activities: Expansion of production equipment in line with business needs.\nWealth management activities: The Company will distribute cash dividends, raise short-\nterm loans and issue unsecured corporate bonds in the cu",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_company_type",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "LTD.",
      "golden_context": "Page 1:\n\nHON HAI PRECISION INDUSTRY CO., LTD.\nAnnual Report\n2 0 2 4",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_key_financials",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Operating revenue: 6859615493k, operating cost: -6430669575k, gross profit: 428945918k, operating income: 200607227k",
      "golden_context": "Page  134:\n\nII. Comparative analysis of financial performance\nUnit: NT$ Thousand\nYear\nAnalysis item 2024 2023 Amount changed\nChange\npercentage\n(%)\nAnalysis\nof\nchanges\nNet Operating Revenue 6,859,615,493 6,162,221,359 697,394,134 11%\nOperating cost (6,430,669,575) (5,774,273,890) (656,395,685) 11%\nGross profit 428,945,918 387,947,469 40,998,449 11%\nOperating expenses (228,338,691) (221,418,974) (6,919,717) 3%\nOperating Income 200,607,227 166,528,495 34,078,732 20% Note 1\nNon-operating income 11,267,930 25,695,718 (14,427,788) (56%) Note 2\nIncome (loss) before\nincome taxes 211,875,157 192,224,213 19,650,944 10%\nIncome tax expense (40,195,922) (37,434,831) (2,761,091) 7%\nNet profit for the period 171,679,235 154,789,382 16,889,853 11%\nOther comprehensive\nincome\n(Loss) net of tax\n78,667,526 (34,309,007) 112,976,533 329% Note 3\nTotal comprehensive\nincome 250,346,761 120,480,375 129,866,386 108% Note 3\nNote 1: The increase in sales volume is mainly due to the increase in customer demand for products,\nwhich leads to an increase in operating income.\nNote 2: Mainly due to the decrease in foreign currency exchange gains and the decrease in offsetting\nagreements, resulting in the decrease in interest income and finance cost.\nNote 3: Cumulative translation gains arising from financial statement conversion due to exchange rate\nfluctuations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_revenue",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Operating revenue: 6859615493k",
      "golden_context": "Page  134:\n\nII. Comparative analysis of financial performance\nUnit: NT$ Thousand\nYear\nAnalysis item 2024 2023 Amount changed\nChange\npercentage\n(%)\nAnalysis\nof\nchanges\nNet Operating Revenue 6,859,615,493 6,162,221,359 697,394,134 11%\nOperating cost (6,430,669,575) (5,774,273,890) (656,395,685) 11%\nGross profit 428,945,918 387,947,469 40,998,449 11%\nOperating expenses (228,338,691) (221,418,974) (6,919,717) 3%\nOperating Income 200,607,227 166,528,495 34,078,732 20% Note 1\nNon-operating income 11,267,930 25,695,718 (14,427,788) (56%) Note 2\nIncome (loss) before\nincome taxes 211,875,157 192,224,213 19,650,944 10%\nIncome tax expense (40,195,922) (37,434,831) (2,761,091) 7%\nNet profit for the period 171,679,235 154,789,382 16,889,853 11%\nOther comprehensive\nincome\n(Loss) net of tax\n78,667,526 (34,309,007) 112,976,533 329% Note 3\nTotal comprehensive\nincome 250,346,761 120,480,375 129,866,386 108% Note 3\nNote 1: The increase in sales volume is mainly due to the increase in customer demand for products,\nwhich leads to an increase in operating income.\nNote 2: Mainly due to the decrease in foreign currency exchange gains and the decrease in offsetting\nagreements, resulting in the decrease in interest income and finance cost.\nNote 3: Cumulative translation gains arising from financial statement conversion due to exchange rate\nfluctuations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_revenue_growth",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "11% growth",
      "golden_context": "Page  134:\n\nII. Comparative analysis of financial performance\nUnit: NT$ Thousand\nYear\nAnalysis item 2024 2023 Amount changed\nChange\npercentage\n(%)\nAnalysis\nof\nchanges\nNet Operating Revenue 6,859,615,493 6,162,221,359 697,394,134 11%\nOperating cost (6,430,669,575) (5,774,273,890) (656,395,685) 11%\nGross profit 428,945,918 387,947,469 40,998,449 11%\nOperating expenses (228,338,691) (221,418,974) (6,919,717) 3%\nOperating Income 200,607,227 166,528,495 34,078,732 20% Note 1\nNon-operating income 11,267,930 25,695,718 (14,427,788) (56%) Note 2\nIncome (loss) before\nincome taxes 211,875,157 192,224,213 19,650,944 10%\nIncome tax expense (40,195,922) (37,434,831) (2,761,091) 7%\nNet profit for the period 171,679,235 154,789,382 16,889,853 11%\nOther comprehensive\nincome\n(Loss) net of tax\n78,667,526 (34,309,007) 112,976,533 329% Note 3\nTotal comprehensive\nincome 250,346,761 120,480,375 129,866,386 108% Note 3\nNote 1: The increase in sales volume is mainly due to the increase in customer demand for products,\nwhich leads to an increase in operating income.\nNote 2: Mainly due to the decrease in foreign currency exchange gains and the decrease in offsetting\nagreements, resulting in the decrease in interest income and finance cost.\nNote 3: Cumulative translation gains arising from financial statement conversion due to exchange rate\nfluctuations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000493_segments",
      "report_id": "ID_000493",
      "company_name": "Hon Hai Precision Industry Co",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "The information and communications industry, automation equipment industry,\noptoelectronics industry, precision machinery industry, automobile industry and\nconsumer electronics industry, as well as the manufacturing, sales and services of\nvarious related connectors, chassis, heat sinks, assembly products, optics and\nnetwork cable assembly products.\nIn addition to ICT product, the Company continues to expand into 3 new\nbusinesses in EV, robotics, and digital health, as well as the 3 core technology\nfields of AI, semiconductors and new-generation communications.",
      "golden_context": "Page 100:\n\nI. Business Content\n(I) Business Scope\n1. Main business activities\nThe information and communications industry, automation equipment industry,\noptoelectronics industry, precision machinery industry, automobile industry and\nconsumer electronics industry, as well as the manufacturing, sales and services of\nvarious related connectors, chassis, heat sinks, assembly products, optics and\nnetwork cable assembly products.\nIn addition to ICT product, the Company continues to expand into 3 new\nbusinesses in EV, robotics, and digital health, as well as the 3 core technology\nfields of AI, semiconductors and new-generation communications.\nIn 2023, the Group also launched three major platforms including smart\nmanufacturing, smart electric vehicles, and smart cities, and announced that it will\ntransform from a technology manufacturing service provider to a platform\nsolution company.\n2. Proportion of business\n98% of the products are 3C electronics (Computer, Communication, Consumer\nElectronics).\n3. Current products\nThe products manufactured by the Company include:\n(1) Smart Consumer Electronic Products (mainly smartphones, TVs, game\nconsoles, etc.)\nPersonal consumer electronic products, including smart phones, feature\nphones, wearable devices, etc.; as well as smart home entertainment systems\nand equipment, including TVs, game consoles, set-top boxes, speakers, etc.\n(2) Cloud and Networking Products (mainly servers, network communications\nand related products):\nEnterprise and consumer network communication equipment, equipment\nrequired by cloud storage, including routers, servers, edge computing, data\ncenters, satellite communications and other related equipment.\n(3) Computing Products (mainly computers, tablets, etc.):\nWork computing equipment, office and workplace computing products,\nincluding desktops, notebooks, tablets, office machines, printers, etc.\n(4) Components and Others Product (mainly connectors, mechanical parts,\nservices, etc.):\nUpstream manufacturing and development of key components, technical\ncomponents; including connectors, precision optical components, lenses,\nelectronic components, semiconductor products, automotive electronic parts,\ntool/mold fixtures and mechanical equipment. Additionally, logistics,\nwarehousing, software development, healthcare services, and industrial\ninternet integration solutions also fall into this category.\n4. New products, new industries and technologies planned to be developed\nThe Company actively transforms, upgrades, and promotes the transition from\nbrawn-intensive industries to brain-intensive strategies of \"F1.0, F2.0, and F3.0\".\nIn addition to the development lights-out factories and automation, the Company\nalso focuses on our defined “3+3 categories” inc",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_cash_flow",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 47094744k, investing: -28924484k, financing: -27951292k",
      "golden_context": "Page 97:\n\n Cash Flow Analysis\n3.1. Consolidated Report\nUnit: NT$ thousands\nNet Cash Provided by\nCash Balance\nNet Cash Outflows from Investing\nImpact of Foreign\nCash Balance\nRemedy for Cash Shortfall\nOperating Activities in\nDec. 31, 2020\nand Financing Activities in 2021\nExchange Ratio\nDec. 31, 2021\n(Investment & Financing Plan)\n2021\n$196,579,745 $47,094,744 $(56,875,776) $(3,094,119) $183,704,594 -\n3.1.1 Analysis of the Change in Cash Flow in 2021\nOperating activities: Net cash inflow of NT$47,094,744 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$ 28,924,484 thousand, mainly due to acquisition of property and\nequipment, and increase in refundable deposits.\nFinancing activities: Net cash outflow of NT$ 27,951,292 thousand, mainly due to distribution of cash\ndividend.\n3.1.2 Remedial Actions for Cash Shortfall\nThe Company has ample cash on-hand; remedial actions are not required.\n3.1.3 Cash Flow Projection for Next Year\nNot applicable.\n3.2. Parent Company\nUnit: NT$ thousands\nCash Balance\nNet Cash Provided by\nNet Cash Outflows from Investing and\nCash Balance\nRemedy for Cash Shortfall\nDec. 31, 2020\nOperating Activities in 2021\nFinancing Activities in 2021\nDec. 31, 2021\n(Investment & Financing Plan)\n$96,917,833 $48,779,819 $(74,348,282) $71,349,370 -\n3.2.1 Analysis of the Change in Cash Flow in 2021\nOperating activities: Net cash inflow of NT$48,779,819 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$45,655,158 thousand, mainly due to capital increase of subsidiary\nand acquisition of property and equipment.\nFinancing activities: Net cash outflow of NT$28,693,124 thousand, mainly due to distribution of cash dividend.\n3.2.2 Remedial Actions for Cash Shortfall\nThe Company has ample cash on-hand; remedial actio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_company_type",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 2:\n\nFax: +886 (0)3-578-7610\nEmail: ir@mediatek.com\nMediaTek Inc. Headquarters:\nAddress: No. 1, Dusing 1st Rd., Hsinchu Science Park, Hsinchu, 30078, Taiwan\nTel: +886 (0)3-567-0766\nMediaTek Inc. Taipei Office:\nAddress: No. 15, Lane 91, Section 1, Neihu Road, Neihu District, Taipei, 11442, Taiwan\nTel: +886 (0)2-2659-8088\nTransfer Agent:\nCompany: China Trust Commercial Bank, Transfer Agency Department\nAddress: 5F, No. 83, Sec. 1, Chungqing S. Rd., Taipei City, Taiwan, R.O.C. 100\nWebsite: https://ecorp.chinatrust.com.tw/cts/en/index.jsp\nTel: +886 (0)2-6636-5566\nIndependent Auditor:\nCompany: Ernst & Young\nAuditors: Shau-Pin Kuo and Wen-Fun Fuh\nAddress: 9F, No.333, Sec. 1, Keelung Rd., Taipei, Taiwan, R.O.C.\nTel: +886 (0)2-2757-8888\nWebsite: http://www.ey.com\nMediaTek Inc. Website:\nWebsite: http://www.mediatek.com\nMediaTek Inc. | 2021 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_key_financials",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "EPS 70.56, gross margin 46.9%.",
      "golden_context": "Page 5:\n\nareholders:\n2021 was a year full of both opportunities and challenges for global semiconductor industry.\nThe acceleration of digital transformation has driven strong demand in various markets,\nleading to supply pressures in the global semiconductor supply chain. With the joint efforts\nfrom all MediaTek employees around the world, we have reached a new milestone in 2021\nwith record high consolidated revenue and EPS. Our consolidated revenue reached NT$493.1\nbillion, with EPS more than doubled to NT$70.56. MediaTek is the 4th largest IC design\ncompany and the 7th largest semiconductor company globally, according to market research\nfirms - Topology Research Institute and Gartner Research. Besides, MediaTek’s gross margin\nand operating margin increased for the 4th consecutive year, with gross margin rising over 11\npercentage points from 35.6% in 2017 to 46.9% in 2021, and operating margin expanding\nover 17 percentage points from 4.1% in 2017 to 21.9% in 2021.\nMediaTek continues balanced development in various products, including smartphones, smart\nedge platforms and power management ICs with strong growth across the board in 2021. We\nbelieve our positive developments in financial and businesses were resulting from the\nsuccessful execution of the strategy to invest early in 5G and WiFi 6, allowing us to\nparticipate in the full product cycle. And with excellent technology competitiveness, we were\nable to expand our markets and provided more value to the customers.\nIn terms of smartphone, MediaTek is ranked 1st in 2021 in global smartphone SoC market\nshare, according to Counterpoint, a market research firm. We capture the 5G upgrade\nopportunity through our complete product portfolio, with exciting expansion into the flagship\nmarket. Our first 5G flagship SoC, Dimensity 9000, was highly recognized by the market with\nits powerful CPU and leading power consumption performance, according to major\nbenchmark indicators, and has had design-ins with multiple brands.\nAs for smart edge platforms, WiFi 6, WiFi 6E, 5G and Bluetooth 5.0 are still in the beginning\nof technology migration. With consumers’ rising demand for multimedia, MediaTek has\ndriven technology upgrades in smart TV, router, broadband application, tablet, laptop and IoT\ndevices, and will continue to expand markets and gain market share through our strong\nproduct portfolio, with multiple years of growth opportunities ahead. In terms of power IC, the\nstructural demand growth driven by accelerating technology upgrades should be able to\nsustain. MediaTek provides power management IC solutions across computing,\ncommunication, consumer, automotive and industrial fields, with automotive and industrial\ntogether accounting for nearly 10% of power IC revenue, demonstrating rapid growth.\nLooking forward, MediaTek plays a crucial and complementary role under the cloud\ncomputing trend, with enabling over 2 billion smart edge devices every year to enrich users’\ncloud connection experiences. MediaTek possesses key technologies and development\ncapabilities for smart edge platforms, such as high-performance and low-power-consumption\nCPU, GPU and APU, as well as complete and leading-edge long/short range wireless and\nwired product portfolio, including 5G, WiFi 6/7, Bluetooth and GPON. Moreover, the camera,\nimage, audio IPs developed with MediaTek’s exceptio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_revenue",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "493.1bn",
      "golden_context": "Page 5:\n\nareholders:\n2021 was a year full of both opportunities and challenges for global semiconductor industry.\nThe acceleration of digital transformation has driven strong demand in various markets,\nleading to supply pressures in the global semiconductor supply chain. With the joint efforts\nfrom all MediaTek employees around the world, we have reached a new milestone in 2021\nwith record high consolidated revenue and EPS. Our consolidated revenue reached NT$493.1\nbillion, with EPS more than doubled to NT$70.56. MediaTek is the 4th largest IC design\ncompany and the 7th largest semiconductor company globally, according to market research\nfirms - Topology Research Institute and Gartner Research. Besides, MediaTek’s gross margin\nand operating margin increased for the 4th consecutive year, with gross margin rising over 11\npercentage points from 35.6% in 2017 to 46.9% in 2021, and operating margin expanding\nover 17 percentage points from 4.1% in 2017 to 21.9% in 2021.\nMediaTek continues balanced development in various products, including smartphones, smart\nedge platforms and power management ICs with strong growth across the board in 2021. We\nbelieve our positive developments in financial and businesses were resulting from the\nsuccessful execution of the strategy to invest early in 5G and WiFi 6, allowing us to\nparticipate in the full product cycle. And with excellent technology competitiveness, we were\nable to expand our markets and provided more value to the customers.\nIn terms of smartphone, MediaTek is ranked 1st in 2021 in global smartphone SoC market\nshare, according to Counterpoint, a market research firm. We capture the 5G upgrade\nopportunity through our complete product portfolio, with exciting expansion into the flagship\nmarket. Our first 5G flagship SoC, Dimensity 9000, was highly recognized by the market with\nits powerful CPU and leading power consumption performance, according to major\nbenchmark indicators, and has had design-ins with multiple brands.\nAs for smart edge platforms, WiFi 6, WiFi 6E, 5G and Bluetooth 5.0 are still in the beginning\nof technology migration. With consumers’ rising demand for multimedia, MediaTek has\ndriven technology upgrades in smart TV, router, broadband application, tablet, laptop and IoT\ndevices, and will continue to expand markets and gain market share through our strong\nproduct portfolio, with multiple years of growth opportunities ahead. In terms of power IC, the\nstructural demand growth driven by accelerating technology upgrades should be able to\nsustain. MediaTek provides power management IC solutions across computing,\ncommunication, consumer, automotive and industrial fields, with automotive and industrial\ntogether accounting for nearly 10% of power IC revenue, demonstrating rapid growth.\nLooking forward, MediaTek plays a crucial and complementary role under the cloud\ncomputing trend, with enabling over 2 billion smart edge devices every year to enrich users’\ncloud connection experiences. MediaTek possesses key technologies and development\ncapabilities for smart edge platforms, such as high-performance and low-power-consumption\nCPU, GPU and APU, as well as complete and leading-edge long/short range wireless and\nwired product portfolio, including 5G, WiFi 6/7, Bluetooth and GPON. Moreover, the camera,\nimage, audio IPs developed with MediaTek’s exceptio",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_revenue_growth",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "prior year revenue: 322145988, current year: 493414582",
      "golden_context": "Page 206:\n\ntion of Financial Statements Originally Issued in Chinese\nMEDIATEK INC. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)\n(Amounts are expressed in thousands of New Taiwan Dollars unless otherwise stated)\n(21) Sales\nAnalysis of revenue from contracts with customers for the years ended December 31, 2021\nand 2020 is as follows:\nA. Disaggregation of revenue\nFor the years ended\nDecember 31\n2021 2020\nSale of goods $ 488,900,520 $ 317,493,721\nServices and other operating revenues 4,514,062 4,652,267\nTotal $ 493,414,582 $ 322,145,988\nRevenue recognition point:\nAt a point in time $ 491,013,293 $ 319,280,778\nSatisfies the performance obligation over time 2,401,289 2,865,210\nTotal $ 493,414,582 $ 322,145,988\nB. Contract balances\nContract liabilities - current\nDecember 31, 2021 December 31, 2020 January 1, 2020\nSales of goods $ 5,930,981 $ 11,560,361 $ 2,368,770\nServices and other\noperating revenues 437,502 132,556 324,760\nTotal $ 6,368,483 $ 11,692,917 $ 2,693,530\nThe significant changes in the Company’s balances of contract liabilities for the years\nended December 31, 2021 and 2020 are as follows:\nFor the years ended\nDecember 31\n2021 2020\nRevenue recognized during the period that was\nincluded in the beginning balance $ 11,342,427 $ 2,045,287\nIncrease in receipt in advance during the period\n(deducting the amount incurred and transferred\nto revenue during the period) $ 6,065,84",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000494_segments",
      "report_id": "ID_000494",
      "company_name": "MediaTek",
      "year": 2021,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Taiwan, Asia, Other",
      "golden_context": "Page 250:\n\n14. Segment Information\n(1) General information\nThe major sales of the Company come from multimedia and mobile phone chips and other\nintegrated circuit design products. The chief operating decision maker reviews the overall\noperating results to make decisions about resources to be allocated to and evaluates the overall\nperformance. Therefore, the Company is aggregated into a single segment.\n(3) Geographical information\nA. Net sales from external customers\nFor the years ended\nDecember 31\nTaiwan $ Asia Others Total $ 493,414,582 $ 322,145,988\n36,194,072 2021 2020\n$ 27,849,166\n450,894,697 289,943,150\n6,325,813 4,353,672\nNet sales are classified by customers’ countries.\nB. Non-current assets\nDecember 31,\n2021\nDecember 31,\n2020\nTaiwan $ 127,280,201 $ 98,981,562\nAsia 37,827,951 19,009,720\nOthers 1,577,157 1,198,446\nTotal $ 166,685,309 $ 119,189,728\nMediaTek Inc. | 2021 Annual Report F-125\nEnglish Translation of Financial Statements Originally Issued in Chinese\nMEDIATEK INC. AND SUBSIDIARIES\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)\n(Amounts are expressed in thousands of New Taiwan Dollars unless otherwise stated)\n(3) Major customers\nThere were customers accounting for at least 10% of net sales are follows:\nFor the year ended December 31, 2021\nNet sales\nCustomer A $ 70,405,72",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_cash_flow",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 144582802k, investing and financing: -193814781k",
      "golden_context": "Page 102:\n\n3. Cash Flow Analysis\n3.1. Consolidated Report\nUnit: NT$ thousands\n3.1.1 Analysis of the Change in Cash Flow in 2022\nOperating activities: Net cash inflow of NT$144,582,802 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$37,534,673 thousand, mainly due to acquisition of financial assets\nincluding bonds.\nincluding bonds.\nFinancing activities: Net cash outflow of NT$156,280,108 thousand, mainly due to distribution of cash dividend.\nFinancing activities: Net cash outflow of NT$156,280,108 thousand, mainly due to distribution of cash dividend.\n3.1.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\n3.1.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.\nCash shortfall not expected to take place.\n3.1.3 Cash Flow Projection for Next Year\nNot applicable.\nNot applicable.\n3.2. Parent Company\nUnit: NT$ thousands\nCash Balance\nNet Cash Provided by\nDec. 31, 2021\nOperating Activities in 2022\nNet Cash Outflows from Investing\nand Financing Activities in 2022\nCash Balance\nDec. 31, 2022\nRemedy for Cash Shortfall\nInvestment\nFinancing\nPlan\nPlan\n$71,349,370 $94,105,358 $(143,037,004) $22,417,724 - -\n3.2.1 Analysis of the Change in Cash Flow in 2022\nOperating activities: Net cash inflow of NT$94,105,358 thousand, mainly from operating profits.\nInvesting activities: Net cash inflow of NT$10,486,185 thousand, mainly due to capital return of investments\naccounted for using the equity method.\nFinancing activities: Net cash outflow of NT$153,523,189 thousand, mainly due to distribution of cash dividend.\nFinancing activities: Net cash outflow of NT$153,523,189 thousand, mainly due to distribution of cash dividend.\n3.2.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\n3.2.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_company_type",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 2:\n\ntek.com\nMediaTek Inc. Headquarters:\nAddress: No. 1, Dusing 1st Rd., Hsinchu Science Park, Hsinchu, 30078, Taiwan\nTel: +886 (0)3-567-0766\nMediaTek Inc. Taipei Office:\nAddress: No. 15, Lane 91, Section 1, Neihu Road, Neihu District, Taipei, 11442, Taiwan\nTel: +886 (0)2-2659-8088\nTransfer Agent:\nCompany: China Trust Commercial Bank, Transfer Agency Department\nAddress: 5F, No. 83, Sec. 1, Chungqing S. Rd., Taipei City, Taiwan, R.O.C. 100\nWebsite: https://ecorp.chinatrust.com.tw/cts/en/index.jsp\nTel: +886 (0)2-6636-5566\nIndependent Auditor:\nCompany: Ernst & Young\nAuditors: Shau-Pin Kuo and Wen-Fun Fuh\nAddress: 9F, No.333, Sec. 1, Keelung Rd., Taipei, Taiwan, R.O.C.\nTel: +886 (0)2-2757-8888\nWebsite: http://www.ey.com\nMediaTek Inc. Website:\nWebsite: http://www.mediatek.com\nMediaTek Inc. | 2022 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_key_financials",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "EPS not adjusted: 74.59, \nEPS adjusted: 74.59",
      "golden_context": "Page 54:\n\nMarket Price, Book Value, Earnings, Dividends per Common Share\nUnit: NT$ / Shares\nItem 2021\n(Distributed in 2022)\n2022\n(Distributed in 2023)\nMarket Price\nHighest 1,200 1,215\nPer Share\nLowest 752 533\n(Note1)\nAverage 951.6 787\nBook Value\nBefore Distribution 271.53 276.51\nPer Share\nAfter Distribution 198.16 200.13\nWeighted Average Shares 1,579,074,576 1,583,800,753\nEarnings\nPer Share\nNot Adjusted 70.56 74.59\nEPS\nAdjusted 70.56 74.59\nDividends\nPer Share\nCash Dividends Stock\nDividend\n73 76\nEarning Distribution - -\nCapital Distribution - -\nAccumulated Undistributed Dividend - -\nReturn on\nInvestment\nPrice/Earnings Ratio (Note2) 13.49 10.55\nPrice/Dividend Ratio (Note3) 13.04 10.36\nCash Dividend Yield (Note4) 7.67% 9.66%\nNote1: Retroactively adjusted for stock dividends and stock bonuses to employees\nNote2: Price/Earnings Ratio = Average Market Price / Earnings Per Share\nNote3: Price/Dividend Ratio = Average Market Price / Cash Dividends Per Share\nNote4: Cash Dividend Yield = Cash Dividends Per Share / Annual Average Market Price\n1.6. Dividend Policy and Status\n1.6.1 Dividend Policy\n1.6.1 Dividend Policy\nAccording to Article 24-1 of the Articles of Incorpor",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_revenue",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "548.8bn",
      "golden_context": "Page 5:\n\nDear Shareholders:\nThe global semiconductor industry went through rapid market demand changes in 2022.\nAlthough the supply chain suffered from capacity shortage in the first half of 2022, demand in\nvarious end markets turned weaker in a short period of time due to global macroeconomic\nuncertainties such as geopolitical tensions, high inflations, rate hikes, and the vast spread of\nCovid-19. This made our customers take stricter inventory control measures and lowered\ndemand for semiconductors starting from the second half of 2022. In this challenging market,\nwith the conscientiousness from all MediaTek employees, we grew our consolidated revenue\nby 11% from 2021 to NT$548.8 billion with EPS of NT$74.59, both reaching record highs.\nMediaTek’s solid execution of technology leadership and global expansion in the past few years\ncontributed to our industry-leading product mix and more diversified customer mix globally.\nThis led to our revenue growth across all three product groups, including mobile, Smart Edge\nPlatform and power IC for the 4th consecutive year, as well as our gross margin and operating\nmargin expansion for the 5th consecutive year, with gross margin rising 13.8 percentage points\nfrom 35.6% in 2017 to 49.4% in 2022, and operating margin growing 19 percentage points from\n4.1% in 2017 to 23.1% in 2022, establishing a strong operating foundation for MediaTek.\nIn terms of smartphone, MediaTek offers complete 4G and 5G platforms to enable upgrades\nfrom 4G to 5G globally, with leading global smartphone market share. In 2022, our first\nmmWave 5G SoC, Dimensity 1050, entered mass production and expanded to North America\nmarkets. Furthermore, MediaTek took another important step in the flagship market by\nlaunching 5G flagship SoC, the Dimensity 9000 series, which were highly recognized by our\ncustomers and adopted by multiple flagship models. MediaTek will continue to invest in the\nadvanced process nodes and designs to introduce more high-performance flagship SoCs to\nrelentlessly grow the flagship market share.\nAs for smart edge platforms, all wireless and wired connection products grew robustly in 2022,\nmainly driven by global market share gains. Furthermore, global upgrade trends in WiFi 6/6E,\n5G and 10GPON not only benefitted the penetration rate among various consumer electronics,\nbut also our businesses with global tier-one telecom operators including broadband, router and\nCPE, which grew strongly as we had been aggressively developing close partnership with those\ncustomers. On the development of the next generation WiFi 7, MediaTek introduced a complete\nWiFi 7 ecosystem, demonstrating our leading global position, and will continue to gain market\nshare in high-end router, notebook, wired connection and TV, welcoming new technology\nmigration cycles. In addition, consumer and enterprise ASIC, as well as automotive products\nwere welcomed by global customers in the US and Europe with significant revenue growth in\n2022 and multi-year growth opportunities ahead. In terms of power IC, MediaTek continued to\nexpand to new areas with revenue from automotive and industrial related applications more than\ndoubled in 2022.\nIn addition to pursuing operating perfo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_revenue_growth",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "11% growth",
      "golden_context": "Page 5:\n\nDear Shareholders:\nThe global semiconductor industry went through rapid market demand changes in 2022.\nAlthough the supply chain suffered from capacity shortage in the first half of 2022, demand in\nvarious end markets turned weaker in a short period of time due to global macroeconomic\nuncertainties such as geopolitical tensions, high inflations, rate hikes, and the vast spread of\nCovid-19. This made our customers take stricter inventory control measures and lowered\ndemand for semiconductors starting from the second half of 2022. In this challenging market,\nwith the conscientiousness from all MediaTek employees, we grew our consolidated revenue\nby 11% from 2021 to NT$548.8 billion with EPS of NT$74.59, both reaching record highs.\nMediaTek’s solid execution of technology leadership and global expansion in the past few years\ncontributed to our industry-leading product mix and more diversified customer mix globally.\nThis led to our revenue growth across all three product groups, including mobile, Smart Edge\nPlatform and power IC for the 4th consecutive year, as well as our gross margin and operating\nmargin expansion for the 5th consecutive year, with gross margin rising 13.8 percentage points\nfrom 35.6% in 2017 to 49.4% in 2022, and operating margin growing 19 percentage points from\n4.1% in 2017 to 23.1% in 2022, establishing a strong operating foundation for MediaTek.\nIn terms of smartphone, MediaTek offers complete 4G and 5G platforms to enable upgrades\nfrom 4G to 5G globally, with leading global smartphone market share. In 2022, our first\nmmWave 5G SoC, Dimensity 1050, entered mass production and expanded to North America\nmarkets. Furthermore, MediaTek took another important step in the flagship market by\nlaunching 5G flagship SoC, the Dimensity 9000 series, which were highly recognized by our\ncustomers and adopted by multiple flagship models. MediaTek will continue to invest in the\nadvanced process nodes and designs to introduce more high-performance flagship SoCs to\nrelentlessly grow the flagship market share.\nAs for smart edge platforms, all wireless and wired connection products grew robustly in 2022,\nmainly driven by global market share gains. Furthermore, global upgrade trends in WiFi 6/6E,\n5G and 10GPON not only benefitted the penetration rate among various consumer electronics,\nbut also our businesses with global tier-one telecom operators including broadband, router and\nCPE, which grew strongly as we had been aggressively developing close partnership with those\ncustomers. On the development of the next generation WiFi 7, MediaTek introduced a complete\nWiFi 7 ecosystem, demonstrating our leading global position, and will continue to gain market\nshare in high-end router, notebook, wired connection and TV, welcoming new technology\nmigration cycles. In addition, consumer and enterprise ASIC, as well as automotive products\nwere welcomed by global customers in the US and Europe with significant revenue growth in\n2022 and multi-year growth opportunities ahead. In terms of power IC, MediaTek continued to\nexpand to new areas with revenue from automotive and industrial related applications more than\ndoubled in 2022.\nIn addition to pursuing operating perfo",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000495_segments",
      "report_id": "ID_000495",
      "company_name": "MediaTek",
      "year": 2022,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Taiwan, Asia, Other",
      "golden_context": "Page 261-262:\n\nB. Significant direct or indirect transactions with the investee, its prices and terms of\npayment, unrealized gain or loss, and other related information which is helpful to\nunderstand the impact of investment in Mainland China on financial reports: Please refer\nto Attachment 1 and Attachment 8\nto Attachment 1 and Attachment 8\n(4) Main shareholder information\nNone.\n14. Segment Information\n(1) General information\nThe major sales of the Company come from multimedia and mobile phone chips and other\nintegrated circuit design products. The chief operating decision maker reviews the overall\noperating results to make decisions about resources to be allocated to and evaluates the\noverall performance. Therefore, the Company is aggregated into a single segment.\noverall performance. Therefore, the Company is aggregated into a single segment.\n(2) Geographical information\nA. Net sales from external customers\nFor the years ended\nDecember 31\nTaiwan Asia Others 2022 2021\n$ 33,794,698 $ 36,194,072\n507,712,143 450,894,697\n7,289,189 6,325,813\nTotal $ 548,796,030 $ 493,414,582\nNet sales are classified by customers’ countries.\nMediaTek Inc. | 2022 Annual Report F-130\nEnglish Translation of Financial Statements Originally Issued in Chinese\nMEDIATEK INC. AND SUBSIDIARIES\nNOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS-(Continued)\n(Amounts are expressed in thousands of New Taiwan Dollars unless otherwise stated)\nB. Non-current assets\nDecember 31,\n2022\nDecember 31,\n2021\nTaiwan $ 130,288,768 $ 127,280,201\nAsia 34,854,722 37,827,951\nOthers 1,812,950 1,577,157\nTotal $ 166,956,440 $ 166,685,309\n(3) Major customers\nCustomers accounting for 10% (or above) of net sales are as follows:\nFor the years ended\nCustomer A Customer B Customer C December 31\n2022 2021\n$ 71,890,831 $ 51,255,548\n66,242,678 70,405,724\n60,116,603 54,477,584\nTotal $ 198,250,112 $ 176,138,856\nMediaTek Inc. | 2022 Annual Report F",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_cash_flow",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 147143750k, investing: -9666840k",
      "golden_context": "Page 111:\n\n3. Cash Flow Analysis\n3.1. Consolidated Report\nUnit: NT$ thousands\nCash Balance\nDec. 31, 2022\n$147,502,155 3.1.1 Analysis of the Change in Cash Flow in 2023\nOperating activities: Net cash inflow of NT$166,091,322 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$28,745,701 thousand, mainly due to acquisition of financial assets\nincluding bonds.\nincluding bonds.\nFinancing activities: Net cash outflow of NT$118,569,139 thousand, mainly due to distribution of cash dividend.\nFinancing activities: Net cash outflow of NT$118,569,139 thousand, mainly due to distribution of cash dividend.\n3.1.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\n3.1.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.\nCash shortfall not expected to take place.\n3.1.3 Cash Flow Projection for Next Year\nNot applicable.\nNot applicable.\n3.2. Parent Company\nUnit: NT$ thousands\nCash Balance\nDec. 31, 2022\nNet Cash Provided by\nOperating Activities in 2023\nNet Cash Outflows from Investing\nand Financing Activities in 2023\nCash Balance\nDec. 31, 2023\nRemedy for Cash Shortfall\nInvestment\nPlan\nFinancing\nPlan\n$22,417,724 $147,143,750 $(121,585,955) $47,975,519 - -\n3.2.1 Analysis of the Change in Cash Flow in 2023\nOperating activities: Net cash inflow of NT$147,143,750 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$9,666,840 thousand, mainly due to acquisition of intangible assets,\nreal estate, and plant and equipment.\nFinancing activities: Net cash outflow of NT$111,919,115 thousand, mainly due to distribution of cash dividend.\nFinancing activities: Net cash outflow of NT$111,919,115 thousand, mainly due to distribution of cash dividend.\n3.2.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\n3.2.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.\nCash shortfall not expected to take place.\n3.2.3 Cash Flow Projection for Next Year\n3.2.3 Cash Flow Projection for Next Year\nNot applicable.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_company_type",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 2:\n\n: +886 (0)3-567-0766\nFax: +886 (0)3-578-7610\nEmail: ir@mediatek.com\nActing spokesperson:\nName: Jessie Wang\nTitle: Deputy Director, Investor Relations & Public Relations Division\nTel: +886 (0)3-567-0766\nFax: +886 (0)3-578-7610\nEmail: ir@mediatek.com\nMediaTek Inc. Headquarters:\nAddress: No. 1, Dusing 1st Rd., Hsinchu Science Park, Hsinchu, 30078, Taiwan\nTel: +886 (0)3-567-0766\nMediaTek Inc. Taipei Office:\nAddress: No. 15, Lane 91, Section 1, Neihu Road, Neihu District, Taipei, 11442, Taiwan\nTel: +886 (0)2-2659-8088\nTransfer Agent:\nCompany: China Trust Commercial Bank, Transfer Agency Department\nAddress: 5F, No. 83, Sec. 1, Chungqing S. Rd., Taipei City, Taiwan, R.O.C. 100\nWebsite: https://ecorp.chinatrust.com.tw/cts/en/index.jsp\nTel: +886 (0)2-6636-5566\nIndependent Auditor:\nCompany: Ernst & Young\nAuditors: Shau-Pin Kuo and Wen-Fun Fuh\nAddress: 9F, No.333, Sec. 1, Keelung Rd., Taipei, Taiwan, R.O.C.\nTel: +886 (0)2-2757-8888\nWebsite: http://www.ey.com\nMediaTek Inc. Website:\nWebsite: http://www.mediatek.com\nMediaTek Inc. | 2023 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_key_financials",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Net sales: 433446330k, gross profit: 207367038k, net income: 77190944k",
      "golden_context": "Page 109:\n\n\nNet Sales 548,796,030 433,446,330 (115,349,700) (21)\nOperating Costs 277,891,595 226,079,292 (51,812,303) (19)\nGross Profit 270,904,435 207,367,038 (63,537,397) (23)\nOperating Expenses 144,115,983 135,567,532 (8,548,451) Operating Income 126,788,452 71,799,506 (54,988,946) (43)\nNon-Operating Income and Expenses 8,772,791 14,982,936 6,210,145 Net Income before Income Tax 135,561,243 86,782,442 (48,778,801) (36)\nIncome Tax Expense 16,936,222 9,591,498 (7,344,724) (43)\nNet Income 118,625,021 77,190,944 (41,434,077) (35)\nOther Comprehensive Income, net of tax (9,211,006) 6,782,875 15,993,881 (174)\nTotal Comprehensive Income 109,414,015 83,973,819 (25,440,196) (23)\nNet Income Attributable to Owners of the\nParent 118,141,106 76,978,637 (41,162,469) (35)\nTotal Comprehensive Income Attributable to\n2. Operating Results\n2.1. Consolidated Report\nUnit: NT$ thousands\n(6)\n71\nOwners of the Parent 108,918,586 83,781,837 (25,136,749) (23)\nExplanation for changes that exceed 20% and reach NT$10 million between the two years:\n1) Decrease in net sales: Mainly due to customers’ inventory adjustment to reflect the decrease in end demand.\n2) Decrease in gross profit: Mainly due to changes in pricing of some products and changes in costs.\n3) Decrease in operating income, net income before income tax, income tax expense, net income, net income attributable to owners of the\nparent: Mainly due to decrease in net sales.\n4) Increase in non-operating income and expenses: Mainly due to increase in dividend income.\n5) Increase in other comprehensive income: Mainly due to increase in unrealized gains from equity investments measured at fair value through\nother comprehensive income.\n6) Decrease in total comprehensive income and total comprehensive income attributable to owners of the parent: Mainly due to the combined\nimpact of the aforementioned changes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_revenue",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Sales 433446330k",
      "golden_context": "Page 78:\n\n2. Market, Production, and Sales Outlook\n2.1. Market Analyst\n2.1.1 Major Markets\n2023\nRegion\nSales (NT$ thousands) Percentage\nExport sales 405,832,244 93.63%\nDomestic sales 27,614,086 6.37%\nTotal 433,446,330 100%\n2.1.2 Market Share\nAccording to Gartner, the worldwide semiconductor revenue was US$530 billion in 2023, with MediaTek holding\na global market share of 2.5%, ranking 13th in the industry. Additionally, TrendForce reported that MediaTek\nwas ranked 5th among global IC design houses in the third quarter of 2023.\n2.1.3 Supply and Demand Situation and Growth Potential of the Future\nA. Wireless Communications Products\nThe acceleration of digital transformation has led to a significant increase in bandwidth usage, further driving the\nupgrade of new generation network devices and equipment hardware. The development and the acceleration of\ntechnology migration of mobile communication, satellite communication, and WiFi, will help drive the wave of\ndevice replacements and boost the demand for wireless communication products. The coverage will gradually\nexpand from smartphones to other consumer electronics ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_revenue_growth",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Sales 433446330k, prior year: 548796030k",
      "golden_context": "Page 109:\n\n2. Operating Results\n2.1. Consolidated Report\nUnit: NT$ thousands\nItem 2022 2023 Change % of Change\nNet Sales 548,796,030 433,446,330 (115,349,700) (21)\nOperating Costs 277,891,595 226,079,292 (51,812,303) (19)\nGross Profit 270,904,435 207,367,038 (63,537,397) (23)\nOperating Expenses 144,115,983 135,567,532 (8,548,451) (6)\nOperating Income 126,788,452 71,799,506 (54,988,946) (43)\nNon-Operating Income and Expenses 8,772,791 14,982,936 6,210,145 71\nNet Income before Income Tax 135,561,243 86,782,442 (48,778,801) (36)\nIncome Tax Expense 16,936,222 9,591,498 (7,344,724) (43)\nNet Income 118,625,021 77,190,944 (41,434,077) (35)\nOther Comprehensive Income, net of tax (9,211,006) 6,782,875 15,993,881 (174)\nTotal Comprehensive Income 109,414,015 83,973,819 (25,440,196) (23)\nNet Income Attributable to Owners of the\nParent 118,141,106 76,978,637 (41,162,469) (35)\nTotal Comprehensive Income Attributable to\nOwners of the Parent 83,781,837 (25,136,749) 108,918,586 Explanation for changes that exceed 20% and reach NT$10 million between the two years:\n1) Decrease in net sales: Mainly due to customers’ inventory adjustment to reflect the decrease in end demand.\n2) Decrease in gross profit: Mainly due to changes in pricing of some products and changes in costs.\n3) Decrease in operating income, net income before income tax, income tax expense, net income, net income attributable to owners of the\nparent: Mainly due to decrease in net sales.\n4) Increase in non-operating income and expenses: Mainly due to increase in dividend income.\n5) Increase in other comprehensive income: Mainly due to increase in unrealized gains from equity investments measured at fair value through\nother comprehensive income.\n6) Decrease in total comprehensive income and total comprehensive income attributable to owners of the parent: Mainly due to the combined\nimpact of the aforementioned changes.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000496_segments",
      "report_id": "ID_000496",
      "company_name": "MediaTek",
      "year": 2023,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Taiwan, Asia, Others",
      "golden_context": "Page 269-270:\n\n14. Segment Information\n(1) General information\nThe major sales of the Company come from multimedia and mobile phone chips and other\nintegrated circuit design products. The chief operating decision maker reviews the overall\noperating results to make decisions about resources to be allocated to and evaluates the\noverall performance. Therefore, the Company is aggregated into a single segment.\nMediaTek Inc. | 2023 Annual Report F-129\nEnglish Translation of Financial Statements Originally Issued in Chinese\nMEDIATEK INC. AND SUBSIDIARIES\nNOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS-(Continued)\n(Amounts are expressed in thousands of New Taiwan Dollars unless otherwise stated)\n(2) Geographical information\nA. Net sales from external customers\n2023 2022\n27,614,086 $ 33,794,698\n393,288,434 507,712,143\n12,543,810 7,289,189\nFor the years ended\nDecember 31\nTaiwan $ Asia Others Total $ 433,446,330 $ 548,796,030\nNet sales are classified by customers’ countries.\nB. Non-current assets\nDecember 31,\n2023\nDecember 31,\n2022\nTaiwan $ 133,923,831 $ 130,288,768\nAsia 35,807,275 34,854,722\nOthers 1,793,117 1,812,950\nTotal $ 171,524,223 $ 166,956,440\n(3) Major customers\nCustomers accounting for 10% (or above) of net sales are as follows:\nFor the years ended\nDecember ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_cash_flow",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 156054607k, investing and financing: -126047069k",
      "golden_context": "Page 99:\n\n. Cash Flow Analysis\n3.1. Consolidated Report\nUnit: NT$ thousands\nCash Balance\nNet Cash Provided by\nNet Cash Outflows from Investing\nImpact of Foreign\nCash Balance\nRemedy for Cash Shortfall\nDec. 31, 2023\nOperating Activities in 2024\nand Financing Activities in 2024\nExchange Ratio\nDec. 31, 2024\nInvestment Plan Financing Plan\n$165,396,010 $156,054,607 $(126,047,069) $8,292,344 $203,695,892 - -\n3.1.1 Analysis of the Change in Cash Flow in 2024\nOperating activities: Net cash inflow of NT$156,054,607 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$35,927,693 thousand, mainly due to acquisition of financial assets\nincluding bonds.\nFinancing activities: Net cash outflow of NT$90,119,376 thousand, mainly due to distribution of cash dividend.\n3.1.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.\n3.1.3 Cash Flow Projection for Next Year\nNot applicable.\n3.2. Parent Company\nUnit: NT$ thousands\nCash Balance\nNet Cash Provided by Operating\nNet Cash Outflows from Investing\nCash Balance\nRemedy for Cash Shortfall\nDec. 31, 2023\nActivities in 2024\nand Financing Activities in 2024\nDec. 31, 2024\nInvestment Plan Financing Plan\n$47,975,519 $96,605,083 $(55,438,739) $89,141,863 - -\n3.2.1 Analysis of the Change in Cash Flow in 2024\nOperating activities: Net cash inflow of NT$96,605,083 thousand, mainly from operating profits.\nInvesting activities: Net cash outflow of NT$15,690,351 thousand, mainly due to acquisition of intangible assets,\nreal estate, and plant and equipment.\nFinancing activities: Net cash outflow of NT$39,748,388 thousand, mainly due to distribution of cash dividend.\n3.2.2 Remedial Actions for Cash Shortfall and Liquidity Analysis\nCash shortfall not expected to take place.\n3.2.3 Cash Flow Projection for Next Year\nNot applicable.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_company_type",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Inc.",
      "golden_context": "Page 2:\n\nTel: +886 (0)3-567-0766\nFax: +886 (0)3-578-7610\nEmail: ir@mediatek.com\nActing spokesperson:\nName: Jessie Wang\nTitle: Deputy Director, Investor Relations & Public Relations Division\nTel: +886 (0)3-567-0766\nFax: +886 (0)3-578-7610\nEmail: ir@mediatek.com\nMediaTek Inc. Headquarters:\nAddress: No. 1, Dusing 1st Rd., Hsinchu Science Park, Hsinchu, 30078, Taiwan\nTel: +886 (0)3-567-0766\nMediaTek Inc. Taipei Office:\nAddress: No. 15, Lane 91, Section 1, Neihu Road, Neihu District, Taipei, 11442, Taiwan\nTel: +886 (0)2-2659-8088\nTransfer Agent:\nCompany: China Trust Commercial Bank, Transfer Agency Department\nAddress: 5F, No. 83, Sec. 1, Chungqing S. Rd., Taipei City, Taiwan, R.O.C. 100\nWebsite: https://ecorp.chinatrust.com.tw/cts/en/index.jsp\nTel: +886 (0)2-6636-5566\nIndependent Auditor:\nCompany: Ernst & Young\nAuditors: Shau-Pin Kuo and Wen-Fun Fuh\nAddress: 9F, No.333, Sec. 1, Keelung Rd., Taipei, Taiwan, R.O.C.\nTel: +886 (0)2-2757-8888\nWebsite: http://www.ey.com\nMediaTek Inc. Website:\nWebsite: http://www.mediatek.com\nMediaTek Inc. | 2024 Annual Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_key_financials",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Net sales 530585886k, gross profit: 263385701k, net income: 107140623k",
      "golden_context": "Page 97:\n\n2. Operating Results\n2.1. Consolidated Report\nUnit: NT$ thousands\nItem 2023 2024 Change % of Change\nNet Sales 433,446,330 530,585,886 97,139,556 22\nOperating Costs 226,079,292 267,200,185 41,120,893 18\nGross Profit 207,367,038 263,385,701 56,018,663 27\nOperating Expenses 135,567,532 160,973,734 25,406,202 19\nOperating Income 71,799,506 102,411,967 30,612,461 43\nNon-Operating Income and Expenses 14,982,936 17,106,813 2,123,877 14\nNet Income before Income Tax 86,782,442 119,518,780 32,736,338 38\nIncome Tax Expense 9,591,498 12,378,157 2,786,659 29\nNet Income 77,190,944 107,140,623 29,949,679 39\nOther Comprehensive Income, net of tax 6,782,875 15,195,645 8,412,770 124\nTotal Comprehensive Income 83,973,819 122,336,268 38,362,449 46\nNet Income Attributable to Owners of the Parent 76,978,637 106,386,578 29,407,941 38\nTotal Comprehensive Income Attributable to Owners of the\nParent 83,781,837 121,555,605 37,773,768 45\nExplanation for changes that exceed 20% and reach NT$10 million between the two years:\n1) 2) 3) Increase in Net Sales: Mainly due to increase in end demand.\nIncrease in Gross Profit: Mainly due to a better product mix.\nIncrease in Operating Income, Net Income before Income Tax, Income Tax Expense, Net Income, and Net Income Attributable to Owners of the Parent:\nMainly due to increase in Net Sales.\n4) Increase in Other Comprehensive Income: Mainly due to increase in Exchange differences resulting from translating the financial statements of foreign\noperations.\n5) Increase in Total Comprehensive Income and Total Comprehensive Income Attributable to Owners of the Parent: Mainly due to the combined impact of the\naforementioned chan",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_revenue",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "530.6bn",
      "golden_context": "Page 5:\n\ne global economic environment and adjustments in customer inventory strategies. In 2024,\nafter stringent inventory control, customer inventories returned to relatively healthy levels, and\ngradual improvements in end-market demand further drove customer inventory replenishment.\nMeanwhile, due to the increase in adoption of technologies such as high-performance\ncomputing and generative AI, advancements in technology and product upgrades have\ncontinued to drive robust industry growth. In 2024, MediaTek leveraged its leading technology\nand product portfolio to fully capture market demand, achieving a year-on-year revenue growth\nof 22.4% to NT$530.6 billion, with a gross margin increase of 1.8 percentage points to 49.6%,\nan operating profit margin increase of 2.7 percentage points to 19.3%, and earnings per share\nof NT$66.92, a growth of 38% year-on-year. With the concerted efforts of all employees,\nMediaTek achieved remarkable results in 2024, demonstrating a solid market position and\nsuperior competitiveness.\nIn Mobile Phone, MediaTek maintained a leading global market share in 2024. In addition to\ncontinuously leveraging its technology advantages to support customer demand across various\nprice segments, MediaTek launched the new flagship 5G Agentic AI chip – Dimensity 9400.\nThe Dimensity 9400 continues the all-big-core CPU design, combined with advanced GPU and\nNPU, showcasing exceptional performance and power efficiency. It integrates MediaTek’s\nDimensity Agentic AI engine, upgrading traditional AI applications to Agentic AI applications\nwith reasoning capabilities, accelerating the formation of a richer AI ecosystem. Flagship\nsmartphones adopting the Dimensity 9400 have been well-received in the market, driving\nMediaTek’s overall flagship revenue to double, contributing over $2 billion in revenue in 2024.\nIn Smart Edge Platforms, various end products continued technology upgrades. For example,\nconnectivity technologies advanced to Wi-Fi 7, 5G, and 10GPON, and computing performance\nof devices such as tablets and Chromebooks continued to improve. In connectivity, MediaTek\nactively and strategically participated in stand",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_revenue_growth",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "22.4% growth",
      "golden_context": "Page 5:\n\ne global economic environment and adjustments in customer inventory strategies. In 2024,\nafter stringent inventory control, customer inventories returned to relatively healthy levels, and\ngradual improvements in end-market demand further drove customer inventory replenishment.\nMeanwhile, due to the increase in adoption of technologies such as high-performance\ncomputing and generative AI, advancements in technology and product upgrades have\ncontinued to drive robust industry growth. In 2024, MediaTek leveraged its leading technology\nand product portfolio to fully capture market demand, achieving a year-on-year revenue growth\nof 22.4% to NT$530.6 billion, with a gross margin increase of 1.8 percentage points to 49.6%,\nan operating profit margin increase of 2.7 percentage points to 19.3%, and earnings per share\nof NT$66.92, a growth of 38% year-on-year. With the concerted efforts of all employees,\nMediaTek achieved remarkable results in 2024, demonstrating a solid market position and\nsuperior competitiveness.\nIn Mobile Phone, MediaTek maintained a leading global market share in 2024. In addition to\ncontinuously leveraging its technology advantages to support customer demand across various\nprice segments, MediaTek launched the new flagship 5G Agentic AI chip – Dimensity 9400.\nThe Dimensity 9400 continues the all-big-core CPU design, combined with advanced GPU and\nNPU, showcasing exceptional performance and power efficiency. It integrates MediaTek’s\nDimensity Agentic AI engine, upgrading traditional AI applications to Agentic AI applications\nwith reasoning capabilities, accelerating the formation of a richer AI ecosystem. Flagship\nsmartphones adopting the Dimensity 9400 have been well-received in the market, driving\nMediaTek’s overall flagship revenue to double, contributing over $2 billion in revenue in 2024.\nIn Smart Edge Platforms, various end products continued technology upgrades. For example,\nconnectivity technologies advanced to Wi-Fi 7, 5G, and 10GPON, and computing performance\nof devices such as tablets and Chromebooks continued to improve. In connectivity, MediaTek\nactively and strategically participated in stand",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000497_segments",
      "report_id": "ID_000497",
      "company_name": "MediaTek",
      "year": 2024,
      "country": "TW",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "A. Design, develop, produce, manufacture and market the following products:\na. Multimedia Integrated Circuits (IC);\nb. Computer peripheral ICs;\nc. High-end digital consumer ICs;\nd. Other application specific ICs;\ne. Patent and circuit-layout licensing and services of the above-mentioned products\nB. Provide the above-mentioned products with software and hardware application design, test, maintenance,\nand technological consultation services\nC. Import and export of the above-mentioned products",
      "golden_context": "Page 63:\n\nIV. Business Activities\n1. Business Scope\n1.1. Business Scope\n1.1.1 The Main Business Activities of the Company\nA. Design, develop, produce, manufacture and market the following products:\na. Multimedia Integrated Circuits (IC);\nb. Computer peripheral ICs;\nc. High-end digital consumer ICs;\nd. Other application specific ICs;\ne. Patent and circuit-layout licensing and services of the above-mentioned products\nB. Provide the above-mentioned products with software and hardware application design, test, maintenance,\nand technological consultation services\nC. Import and export of the above-mentioned products\n1.1.2 Revenue Mix (2024)\nProduct Category IC Products Others (Note)\nRevenue Mix 98.43% 1.57%\nNote: Others include revenue from technical services and licensing fees.\n1.1.3 Products Currently Offered by the Company\nA. Mobile communication chips;\nB. WLAN (Wireless LAN) chips;\nC. Smart TV chips;\nD. Tablet and Chromebook chips;\nE. AIoT (Artificial Intelligence of Things) device chips;\nF. Smart home device chips;\nG. PON (Passive Optical Network) and xDSL chips;\nH. Bluetooth chips;\nI. GPS (Global Positioning Satellite) chips;\nJ. Consumer and enterprise ASICs;\nK. Power management and controller chips; and\nL. Automotive chips\n1.1.4 New Products Planned for Development\nA. Next generation mobile communication chips;\nB. Next generation WLAN (wireless LAN) chips;\nC. Next generation 8K and 4K smart TV chips;\nD. Next generation tablet and Chromebook chips;\nE. Next generation high-end personal computing chips;\nF. Next generation AIoT (Artificial Intelligence of Things) device chips;\nG. Next generation 10G-PON (Passive Optical Network) chips;\nH. Next generation 10G NBASE-T Ethernet physical and switch chips;\nI. Next generation enterprise AI accelerator ASICs;\nJ. Next generation power management and controller chips; and",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_cash_flow",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 159m, investing: -3218m, financing: 2450m",
      "golden_context": "Page 167:\n\nConsolidated statement of cash flows\nfor the year ended 31 March 2021\n31 March\nNotes\n2021\nUS$’m\n2020\nUS$’m\nCash flows from operating activities\nCash from operations 33 (52) (475)\nDividends received from investments and equity-accounted companies 458 382\nCash generated/(utilised in) in operating activities 406 (93)\nInterest income received 106 224\nInterest costs paid (248) (230)\nTaxation paid (105) (110)\nNet cash generated from/(utilised in) in operating activities 159 (209)\nCash flows from investing activities\nProperty, plant and equipment acquired (105) (79)\nProceeds from sale of property, plant and equipment 4 4\nIntangible assets acquired (16) (22)\nAcquisitions of subsidiaries and businesses, net of cash acquired 34 (88) (468)\nDisposals of subsidiaries and businesses 35 27 22\nAcquisition of associates 36 (276) (156)\nAdditional investment in existing associates 36 (1 484) (218)\nPartial disposals of associates 20–\nDisposal of associates 194 87\nAcquisition of joint ventures 36 (5)–\nAdditional investments in existing joint ventures 36 (127) (23)\nAcquisition of short-term investments(1) (1 208) (3 866)\nMaturity of short-term investments(1) 3 839 7 010\nLoans advanced to related parties 17 (318)–\nCash paid for other investments 11 (1 322) (30)\nAcquisition of Naspers shares 11 (2 350)–\nCash movement in other investing activities (3) 9\nNet cash (utilised in)/generated from investing activities (3 218) 2 270\nCash flows from financing activities\nRepurchase of own shares 18 (1 415)–\nProceeds from long- and short-term loans raised 21 4 593 1 300\nRepayments of long- and short-term loans 21 (155) (1 047)\nRepayments of related party loans(2) 17– (58)\nAdditional investments in existing subsidiaries(3) (270) (64)\nRepayments of capitalised lease liabilities 21 (48) (29)\nContributions made to the Naspers share trusts (79)–\nAdditional investment from non-controlling shareholders 53 127\nDividends and capital repayments to shareholders (214)–\nDistribution(4) – (215)\nOther movements in financing activities (15) 3\nNet cash generated from financing activities 2 450 17\nNet movement in cash and cash equivalents (609) Foreign exchange translation adjustments on cash and cash equivalents 22 Cash and cash equivalents at the beginning of the year 4 149 Cash and cash equivalents classified as held for sale 16– Cash and cash equivalents at the end of the year 38 3 562 Relates to short-term cash investments with maturities of more than three months from the date of acquisition. Refer to note 37.\nThe prior year includes payments on behalf of related parties amounting to US$48.2m and US$10.1m for loans advanced to related parties.\nRefer to note 17 for related party transactions and balances.\nRelates to transactions with non-controlling interest resulting in changes in effective interest of existing subsidiaries.\nRelates to distributions as a result of common control transactions. Refer to note 17.\nThe accompanying notes are an integral part of these consolidated financial statements.\nNotes to the consolidated financial statements\nfor the year ended 31 March 2021\n1. General information\nProsus N.V. (Prosus or the group) is a public company with limited liability (naamloze vennootschap)\nincorporated under Dutch law, with its registered head office located at Symphony Offices, Gustav\nMahlerplein 5, 1082 MS Amsterdam, the Netherlands (registered in the Dutch commercial register\nunder number 34099856). Prosus is a subsidiary of Naspers Limited (Naspers), a company\nincorporated in South Africa. On 11 September 2019, Prosus was listed on the Euronext Amsterdam\nstock exchange, with a secondary listing on the JSE Limited’s stock exchange and A2X markets\nin South Africa.\nThe Prosus group is a global consumer internet group and one of the largest technology investors in\nthe world.\nThe consolidated financial statements for the year ended 31 March 2021 have been authorised for\nissue by the board of directors on 19 June 2021.\n2 078\n(37)\n2 127\n(19)\n4 149\n(1)\n(2)\n(3)\n(4)\n2. Principal accounting policies\nThe principal accounting policies applied in the preparation of these consolidated financial statements\nare set out below. These accounting policies have been applied consistently to all years presented,\nunless otherwise stated.\nBasis of preparation\nThe consolidated financial statements for the year ended 31 March 2021 have been prepared in\naccordance with International Financial Reporting Standards (IFRS) as adopted by the European Union\n(IFRS-EU), as well as the Interpretations (IFRICs) of the IFRS Interpretations Committee (IFRS IC) and the\nInterpretations published by the Standing Interpretations Committee (SIC) as well as the requirements\nunder Dutch law, including Title 9 of Book 2 of the Dutch Civil Code.\nOperating segments\nThe group’s operating segments reflect the components of the group that are regularly reviewed by\nthe chief operating decision-maker (CODM) as defined in note 39 ‘Segment information’. The group\nproportionately consolidates its share of the results of its associates and joint ventures in its operating\nsegments.\nGoing concern\nThe consolidated and company financial statements are prepared on the going-concern basis.\nBased on forecasts and available cash resources, the group and company have adequate resources\nto continue operations as a going concern for the foreseeable future. As at 31 March 2021, the group\nrecorded US$4.77bn in net cash, comprising US$3.57bn of cash and cash equivalents and US$1.21bn\nin short-term cash investments. The group had US$7.89bn of interest-bearing debt (excluding capitalised\nlease liabilities) and an undrawn US$2.5bn revolving credit facility. Refer to note 18 ‘Share capital and\npremium – capital management’ for details of how the group manages its capital to safeguard its\nability to continue as a going concern.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_company_type",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "N.V.",
      "golden_context": "Page 3:\n\ndemic. From the outset we focused on ensuring\nwe safeguarded our people, maintained our ability\nto serve our customers, and protected our\nbusinesses for the long term. Throughout the\nreport we sum up how we have lived up to this\ncommitment, including the many different initiatives\nundertaken by portfolio companies.\nListing information\nProsus N.V. (Prosus) has a primary listing on\nEuronext Amsterdam (AEX:PRX) and secondary\nlistings on the JSE Limited’s stock exchange\n(XJSE:PRX) and A2X Markets (PRX.AJ) in\nJohannesburg, South Africa, and is majority-owned\nby Naspers Limited (Naspers). It also has American\nDepository Receipts (ADRs) that trade on an\nover-the-counter (OTC) basis in the United States\n(US). Prosus also has bonds listed on Euronext\nDublin (ISE). Investors are therefore able to buy and\nsell Prosus securities on sev",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_key_financials",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "revenue: 28.8bn, trading profit: 5.6bn",
      "golden_context": "  The year ended 31 March 2021 (FY21) was an extraordinary period. Despite the challenges, the group has delivered strong results across its portfolio and made good progress against its strategy. Group revenue, measured on an\n   economic-interest basis, grew 34% (33%) to US$28.8bn, a meaningful acceleration of 17pp (10pp) on the same period last year. This was driven by Ecommerce revenues which grew 46% (54%) year on year. Group trading profit    \n  grew 49% (44%) to US$5.6bn.  ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_revenue",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "28.8bn",
      "golden_context": "Page 5:\n\nfair view\nof the group.\nThe other components of the directors’ report,\nas required by article 391, can be found in the\nfollowing sections of this annual report:\n•\nGroup overview\n•\nPerformance review\n•\nGovernance\n•\nOur sustainability direction\n•\nConsolidated financial statements:\n– Note 18 Share capital and premium –\ncapital management\n– Note 40 Financial risk management\n– Note 43 Subsequent events\nDetails of the voting overview and protection\nstructure can be found on page 11.\nOn 19 June 2021, the board of directors authorised\nthe annual report for issue on 21 June 2021.\nThe annual report as presented in this report is\nsubject to adoption by the annual general\nmeeting of shareholders.\nGiven the wide geographical span of our\noperations and significant mergers and acquisitions\n(M&A) activity in ecommerce, reported earnings\nare materially impacted by foreign exchange\nmovements and the effects of acquisitions and\ndisposals. Where relevant in this report,\nadjustments have been made for these effects.\nThese adjustments (pro forma financial information)\nare quoted in brackets after the equivalent metrics\nreported under International Financial Reporting\nStandards as adopted by the European Union\n(IFRS-EU).\nA reconciliation of pro forma financial information\nto the equivalent IFRS-EU metrics is provided in\nNote 39 ‘Segment information’ on page 213 of this\nannual report.\nOperating review\nThe year ended 31 March 2021 (FY21) was an\nextraordinary period. Despite the challenges, the\ngroup has delivered strong results across its\nportfolio and made good progress against its\nstrategy. Group revenue, measured on an\neconomic-interest basis, grew 34% (33%) to\nUS$28.8bn, a meaningful acceleration of 17pp\n(10pp) on the same period last year. This was\ndriven by Ecommerce revenues which grew 46%\n(54%) year on year. Group trading profit grew 49%\n(44%) to US$5.6bn.\nSeven years ago, we set out a strategy to build\nvaluable, global consumer internet businesses. We\nfocus on high-growth markets, where our platforms\ncan provide useful products and services for\nmillions of people in their everyday lives. In recent\nyears, we have deliberately repositioned the group\nfor an increasingly online world and invested\neffectively to accelerate growth and deliver good\nreturns across our portfolio.\nOver the past 12 months, this strategy and the\nmomentum we have built has paid off. The group\nhas benefited from its online focus, its global reach,\ndiversified operations and strong financial footing.\nOur teams have also adapted well to the changing\noperating environment.\nThis has meant we have been well placed to\neffectively respond to the world’s increased\ndemand for online products and services triggered\nby Covid-19. Our businesses across online\nclassifieds, food delivery, payments and finance\ntechnology, education technology and online retail\nhave continued to serve and support their\ncustomers and communities. We have also\nidentified promising adjacencies for our existing\nbusinesses as well as new business models\nthrough our global Ventures team.\nIn FY21 our businesses grew stronger, building on\nthe momentum they had at the end of the previous\nyear. For some businesses, there was an initial\nadverse impact in the face of early lockdowns and\nrestrictions. We adapted quickly, and as restrictions\neased and the pandemic drove more people\nonline, we were ready to meet heightened\nconsumer demand with products and services that\nhelped people and their communities through\ndifficult times. At a local level, we also provided\nadditional support to our people, partners,\ncustomers, communities and in some cases,\ngovernments, to help our stakeholders respond to\nCovid-19. Separately, we enhanced our commitment\nto environmental and social issues and we are\ncarbon-neutral as a group, having offset our\nemissions for the past financial year.\nDuring the period we accelerated revenue growth,\nimproved profitability and cash generation, and\ngrew customer numbers.\nAll core Ecommerce segments made progress\nagainst their financial and strategic objectives.\nClassifieds performed well under tough\ncircumstances and recovered in the second half,\nregaining financial and operational momentum by\nfocusing on continued innovation with products that\nsupport users along their transaction journey. Food\nDelivery and Etail performed exceptionally well as\ncustomers shifted from offline to online. After an\ninitial drop in volumes in India as the country\nentered lockdown, our Payments and Fintech\nbusiness rebounded, reflected in accelerating\nvolumes. Finally, our investments in Edtech began\nto bear fruit, driven by increased adoption by\nstudents working from home.\nTencent recorded another strong financial\nperformance. We believe it remains very well\npositioned for growth. We remain committed\nlong-term investors in Tencent.\nWe are focused on building further value across\nour businesses, and see significant upside in some\nnew opportunities in which we have invested.\nNotably, in adding the autos transaction businesses\nto our Classifieds operations, a broader on-\ndemand delivery ecosystem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_revenue_growth",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "33% growth",
      "golden_context": "Page 5:\n\nfair view\nof the group.\nThe other components of the directors’ report,\nas required by article 391, can be found in the\nfollowing sections of this annual report:\n•\nGroup overview\n•\nPerformance review\n•\nGovernance\n•\nOur sustainability direction\n•\nConsolidated financial statements:\n– Note 18 Share capital and premium –\ncapital management\n– Note 40 Financial risk management\n– Note 43 Subsequent events\nDetails of the voting overview and protection\nstructure can be found on page 11.\nOn 19 June 2021, the board of directors authorised\nthe annual report for issue on 21 June 2021.\nThe annual report as presented in this report is\nsubject to adoption by the annual general\nmeeting of shareholders.\nGiven the wide geographical span of our\noperations and significant mergers and acquisitions\n(M&A) activity in ecommerce, reported earnings\nare materially impacted by foreign exchange\nmovements and the effects of acquisitions and\ndisposals. Where relevant in this report,\nadjustments have been made for these effects.\nThese adjustments (pro forma financial information)\nare quoted in brackets after the equivalent metrics\nreported under International Financial Reporting\nStandards as adopted by the European Union\n(IFRS-EU).\nA reconciliation of pro forma financial information\nto the equivalent IFRS-EU metrics is provided in\nNote 39 ‘Segment information’ on page 213 of this\nannual report.\nOperating review\nThe year ended 31 March 2021 (FY21) was an\nextraordinary period. Despite the challenges, the\ngroup has delivered strong results across its\nportfolio and made good progress against its\nstrategy. Group revenue, measured on an\neconomic-interest basis, grew 34% (33%) to\nUS$28.8bn, a meaningful acceleration of 17pp\n(10pp) on the same period last year. This was\ndriven by Ecommerce revenues which grew 46%\n(54%) year on year. Group trading profit grew 49%\n(44%) to US$5.6bn.\nSeven years ago, we set out a strategy to build\nvaluable, global consumer internet businesses. We\nfocus on high-growth markets, where our platforms\ncan provide useful products and services for\nmillions of people in their everyday lives. In recent\nyears, we have deliberately repositioned the group\nfor an increasingly online world and invested\neffectively to accelerate growth and deliver good\nreturns across our portfolio.\nOver the past 12 months, this strategy and the\nmomentum we have built has paid off. The group\nhas benefited from its online focus, its global reach,\ndiversified operations and strong financial footing.\nOur teams have also adapted well to the changing\noperating environment.\nThis has meant we have been well placed to\neffectively respond to the world’s increased\ndemand for online products and services triggered\nby Covid-19. Our businesses across online\nclassifieds, food delivery, payments and finance\ntechnology, education technology and online retail\nhave continued to serve and support their\ncustomers and communities. We have also\nidentified promising adjacencies for our existing\nbusinesses as well as new business models\nthrough our global Ventures team.\nIn FY21 our businesses grew stronger, building on\nthe momentum they had at the end of the previous\nyear. For some businesses, there was an initial\nadverse impact in the face of early lockdowns and\nrestrictions. We adapted quickly, and as restrictions\neased and the pandemic drove more people\nonline, we were ready to meet heightened\nconsumer demand with products and services that\nhelped people and their communities through\ndifficult times. At a local level, we also provided\nadditional support to our people, partners,\ncustomers, communities and in some cases,\ngovernments, to help our stakeholders respond to\nCovid-19. Separately, we enhanced our commitment\nto environmental and social issues and we are\ncarbon-neutral as a group, having offset our\nemissions for the past financial year.\nDuring the period we accelerated revenue growth,\nimproved profitability and cash generation, and\ngrew customer numbers.\nAll core Ecommerce segments made progress\nagainst their financial and strategic objectives.\nClassifieds performed well under tough\ncircumstances and recovered in the second half,\nregaining financial and operational momentum by\nfocusing on continued innovation with products that\nsupport users along their transaction journey. Food\nDelivery and Etail performed exceptionally well as\ncustomers shifted from offline to online. After an\ninitial drop in volumes in India as the country\nentered lockdown, our Payments and Fintech\nbusiness rebounded, reflected in accelerating\nvolumes. Finally, our investments in Edtech began\nto bear fruit, driven by increased adoption by\nstudents working from home.\nTencent recorded another strong financial\nperformance. We believe it remains very well\npositioned for growth. We remain committed\nlong-term investors in Tencent.\nWe are focused on building further value across\nour businesses, and see significant upside in some\nnew opportunities in which we have invested.\nNotably, in adding the autos transaction businesses\nto our Classifieds operations, a broader on-\ndemand delivery ecosystem",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000501_segments",
      "report_id": "ID_000501",
      "company_name": "Prosus",
      "year": 2021,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Classifieds OLX Group, Food Delivery, Payments and Fintech, Etail, Ventures, Social and Internet Platforms",
      "golden_context": "Page 17:\n\nWe focus on high-\ngrowth segments\nWe focus on core segments, including Classifieds, Food Delivery,\nPayments and Fintech, and Etail. Through our Ventures segment we\ninvest in the next wave of growth segments such as Edtech. We also\ninvest in key Social and Internet Platforms.\nEcommerce (global consumer internet portfolio)\nClassifieds\nOLX Group\nFood Delivery\nPayments\nand Fintech\nEtail\nVentures\nSocial and Internet\nPlatforms\nREVENUE1\nUS$1 599m\nup 18%\n_x0008_\nREVENUE_x0008_\nUS$1 486m\nup >100%\nREVENUE1\nUS$577m\nup 36%\n_x0008_\nREVENUE1\nUS$2 250m\nup 54%\n_x0008_\nREVENUE1\nUS$168m\nup 54%\n_x0008_\nREVENUE1\nUS$22 526m\nup 28%\n_x0008_\nTRADING PROFIT1\nUS$9m\ndown 14%\n_x0008_\nTRADING LOSS1\nUS$355m\nup 42%\n_x0008_\nTRADING LOSS1\nUS$68m\ndown 6%\n_x0008_\nTRADING PROFIT1\nUS$68m\nup >100%\n_x0008_\nTRADING LOSS1\nUS$48m\nup 2%\n_x0008_\nTRADING PROFIT1\nUS$6 154m\nup 29%\n_x0008_\nEMPLOYEES_x0008_\n8 754\nEMPLOYEES_x0008_\n4 126\nEMPLOYEES_x0008_\n2 980\nEMPLOYEES_x0008_\n6 567\nOur Ventures arm partners with\nentrepreneurs to build leading technology\ncompanies, with the ambition to fuel the\nnext wave of growth for the group.\nProsus also holds investments in two listed\ninternet companies: Tencent, China’s\nlargest and most-used internet services\nplatform, and Mail.ru Group, the leading\ninternet company in Russian-speaking\nmarkets.\nOur brands, OLX and Avito, including\n15 other brands, hold leading market\npositions in more than 22 countries.\nOur portfolio consists of food delivery\nbusinesses, including iFood, Delivery Hero\nand Swiggy.\nPayU is one of the largest online payment\nservices platforms in the world, with\noperations in 20 markets across Africa and\nthe Middle East, Central and Eastern\nEurope, India, Southeast Asia and Latin\nAmerica. Included in this segment are the\ngroup’s fintech and credit associates\nRemitly and ZestMoney.\neMAG is an ecommerce leader in Central\nand Eastern Europe.\n_x0008_ 8.83%\n_x0008_ 13.98%\n_x0008_ 40.06%\n_x0008_ 100%\n_x0008_ 16.86%\nIyzico_x0008_ 91.13%\n_x0008_ 20.94%\n_x0008_ 39.54%\n_x0008_ 100%\n_x0008_ 19.84%\n_x0008_ 39.07%\n_x0008_ 24.12%\n_x0008_ 15.83%\n_x0008_ 100%\n_x0008_ 62.24%\n_x0008_ 79.20%\n_x0008_ 10.57%\n_x0008_ 100%\n_x0008_ 21.10%\n_x0008_ 71.73%\n_x0008_ 93.35%\n_x0008_ 30.86%\n_x0008_ 90.72%\n_x0008_ 41.19%\n_x0008_ 100%\n_x0008_ 80.08%\n_x0008_ 12.36%\n_x0008_ 27.29%\nRead more on page 42\nRead more on page 46\n1 Presented on an economic-interest basis. Growth in local currency excluding acquisitions and disposals.\nRead more on page 52\nRead more on page 56\nRead more on page 59\nRead more on page 65\nProsus annual repor",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_cash_flow",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -605m, investing: 4392m, financing: 2403m",
      "golden_context": "Page 153:\n\nConsolidated statement of cash flows\nfor the year ended 31 March 2022\n31 March\nNotes\n2022\nUS$’m\n2021\nUS$’m\nCash flows from operating activities\nCash from operations 18 (644) (52)\nDividends received from investments and equity-accounted companies 571 458\nCash (utilised in)/generated from operating activities (73) 406\nInterest income received 38 106\nInterest costs paid (381) (248)\nTaxation paid (189) (105)\nNet cash (utilised in)/generated from operating activities (605) 159\nCash flows from investing activities\nProperty, plant and equipment acquired (212) (105)\nProceeds from sale of property, plant and equipment 8 4\nIntangible assets acquired (30) (16)\nAcquisitions of subsidiaries and businesses, net of cash 11 (1 896) (88)\nDisposals of subsidiaries and businesses 12 20 27\nAcquisition of associates 6 (1 361) (276)\nAdditional investment in existing associates 6 (1 316) (1 484)\nPartial disposals of associates 6 14 609 20\nDisposal of associates 12 194\nAcquisition of joint ventures– (5)\nAdditional investments in existing joint ventures 6 (7) (127)\nAcquisition of short-term investments1 (3 922) (1 208)\nMaturity of short-term investments1 1 211 3 839\nLoans advanced to related parties 41 (21) (318)\nCash paid for other investments 28 (1 477) (1 322)\nCash received from other investments2 85–\nAcquisition of Naspers shares3 23 (1 287) (2 350)\nCash movement in other investing activities (24) (3)\nNet cash generated from/(utilised in) investing activities 4 392 (3 218)\nCash flows from financing activities\nRepurchase of own shares 23 (4 995) (1 416)\nProceeds from issue of share capital 23 66–\nProceeds from long- and short-term loans raised 30 9 564 4 593\nRepayments of long- and short-term loans 30 (1 619) (155)\nAdditional investments in existing subsidiaries4 (148) (270)\nRepayments of capitalised lease liabilities 30 (51) (48)\nContributions made to the Naspers share trusts 41 (190) (79)\nAdditional investment from non-controlling shareholders 140 53\nDividends and capital repayments to shareholders (238) (214)\nOther movements in financing activities5 (126) (15)\nNet cash generated from financing activities 2 403 2 449\nNet movement in cash and cash equivalents 6 190 (610)\nForeign exchange translation adjustments on cash and cash equivalents (124) 23\nCash and cash equivalents at the beginning of the year 3 562 4 149\nCash and cash equivalents at the end of the year 26 9 628 3 562\n1\n2\n3\n4\n5\nRelates to short-term cash investments with maturities of more than three months from the date of acquisition. Refer to note 27.\nRelates to payments for the group’s fair value through other comprehensive income investments.\nRelates to payments for the group’s acquisition of Naspers shares included in fair value through other comprehensive income investments prior to the share exchange transaction.\nRelates to transactions with non-controlling interest resulting in changes in effective interest of existing subsidiaries.\nIncludes transaction costs relating to the Prosus share exchange of US$122.4m.\nThe accompanying notes are an integral part of these consolidated financial statements.\nProsus annual report 2022\nGroup overview Sustainability review Performance review Governance Financial statements Other information\n153\nNotes to the consolidated financial statements\nfor the year ended 31 March 2022\nAccounting framework and critical judgements\n1. Nature of operations\nProsus N.V. (Prosus or the group) is a public company with limited liability (naamloze vennootschap) incorporated under Dutch law, with\nits registered head office located at Symphony Offices, Gustav Mahlerplein 5, 1082 MS Amsterdam, the Netherlands, (registered in the\nDutch commercial register under number 34099856). Prosus is a subsidiary of Naspers Limited (Naspers), a company incorporated in\nSouth Africa. On 11 September 2019, Prosus was listed on the Euronext Amsterdam stock exchange, with a secondary listing on the\nJSE Limited’s stock exchange and A2X Markets in South Africa.\nThe Prosus group is a global consumer internet group and one of the largest technology investors in the world. Operating and\ninvesting globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people\nand enrich communities. The group is focused on building meaningful businesses in the online classifieds, payments and fintech, food\ndelivery and education technology sectors in markets including Europe, India, Russia and Brazil. Through its ventures team, Prosus\nactively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to address big societal needs.\nEvery day, millions of people use the products and services of companies that Prosus has invested in, acquired or built. The group\noperates and partners with a number of leading internet businesses across the Americas, Africa, Central and Eastern Europe, and\nAsia in sectors including online classifieds, food delivery, payments and fintech, edtech, health, etail and social and internet platforms.\nThe consolidated financial statements for the year ended 31 March 2022 have been authorised for issue by the board of directors\non 25 June 2022.\n2. Basis of preparation\nThe consolidated financial statements for the year ended 31 March 2022 have been prepared in accordance with International\nFinancial Reporting Standards (IFRS) as adopted by the European Union (IFRS-EU), as well as the Interpretations (IFRICs) of the IFRS\nInterpretations Committee (IFRS IC) and the interpretations published by the Standing Interpretations Committee (SIC) as well as the\nrequirements under Dutch law, including Title 9 of Book 2 of the Dutch Civil Code.\nThe principal accounting policies applied in the preparation of these consolidated and company financial statements have been\nconsistently applied to all years presented, unless otherwise stated.\nOperating segments\nThe group’s operating segments reflect the components of the group that are regularly reviewed by the chief operating decision-maker\n(CODM) as defined in note 21 ’Segment information’. The group proportionately consolidates its share of the results of its associates\nand joint ventures in its operating segments. From 1 April 2021, the group created a new educational technology (Edtech) segment.\nThe segment includes the results of the group’s investments in edtech which have increased significantly due to the acquisitions of\nsubsidiaries and equity-accounted investments over the years. The equity-accounted investments presented in the ’Other Ecommerce’\nsegment in prior periods have been reclassified and presented as part of the new Edtech segment.\nGoing concern\nThe consolidated and company financial statements are prepared on the going-concern basis. Based o\n\n\nPage 149:\n\nConsolidated income statement\nfor the year ended 31 March 2022\nNotes\n31 March\n2022\nUS$’m\n2021\nUS$’m\nRevenue from contracts with customers 13 6 866 5 116\nCost of providing services and sale of goods 14 (4 804) (3 455)\nSelling, general and administration expenses 14 (2 759) (2 614)\nOther gains/(losses) – net 15 (162) (87)\nOperating loss (859) (1 040)\nInterest income 16 58 83\nInterest expense 16 (403) (262)\nOther finance (loss)/income – net 16 (83) 177\nShare of equity-accounted results 9, 10 9 256 7 095\nImpairment of equity-accounted investments 9, 10 (582) (30)\nDilution gains on equity-accounted investments 9, 10 95 981\nGains on partial disposal of equity-accounted investments 9, 10 12 339 19\nNet (losses)/gains on acquisitions and disposals 17 (1 130) 309\nProfit before taxation 18 691 7 332\nTaxation 19 (97) 67\nProfit for the year 18 594 7 399\nAttributable to:\nEquity holders of the group 18 733 7 449\nNon-controlling interests (139) (50)\n18 594 7 399\nPer share information for the year (US cents)\nEarnings per ordinary share N 22 1 243 459\nDiluted earnings per ordinary share N 22 1 232 450",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_company_type",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "N.V.",
      "golden_context": "Page 2:\n\ntional, social, economic and political conditions; (e) labour disruptions and industrial\naction; and (f) the effects of both current and future litigation. The forward-looking\nstatements contained in this report apply only as of the date of the report. We are not\nunder any obligation to (and expressly disclaim any such obligation to) revise or update\nany forward-looking statements to reflect events or circumstances after the date of the\nreport or to reflect the occurrence of unanticipated events. We cannot give any assurance\nthat forward-looking statements will prove correct and investors are cautioned not to\nplace undue reliance on any forward-looking statements.\nStatement on European Single Electronic Format (ESEF)\nThis document is the PDF/printed version of the 2022 annual report of Prosus N.V. The\n2022 annual report was made publicly available pursuant to section 5:25c of the Dutch\nFinancial Supervision Act (Wet op het financieel toezicht ), and was filed with the\nNetherlands Authority for the Financial Markets in European single electronic reporting\nformat (the ESEF package).\nThe ESEF package is available on the company’s website at www.prosus.com and includes\na human-readable XHTML version of the 2022 annual report. In any case of discrepancies\nbetween this PDF version and the ESEF package, the latter prevails. The independent\nauditor’s report included in this PDF/printed version relates only to the ESE",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_key_financials",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Profit for the year: 18594m, operating profit: -859m, profit: 18594m, earnings per ordinary share: 1243 (US cents)",
      "golden_context": "Page 150:\n\nConsolidated statement of comprehensive income\nfor the year ended 31 March 2022\n149\n31 March\nNotes\n2022\nUS$’m\n2021\nUS$’m\nProfit for the year 18 594 7 399\nOther comprehensive income (OCI)\nItems that may be subsequently reclassified to profit or loss\nForeign exchange gains arising on translation of foreign operations1 1 591 1 985\nHedging reserve 20–\nRecognition of cash flow hedge (99)–\nDerecognition of cash flow hedge 119–\nShare of equity-accounted investments’ movement in OCI (813) (424)\nForeign currency translation reserve (813) (424)\nItems that may not be subsequently reclassified to profit or loss\nFair-value (losses)/gains on financial assets through OCI 28 (1 210) 669\nShare of equity-accounted investments’ movement in OCI and net asset value 9 (2 699) 6 819\nShare-based compensation reserve 1 044 548\nValuation reserve2 24 (3 743) 6 271\nTotal other comprehensive (loss)/income, net of tax, for the year (3 111) 9 049\nTotal comprehensive income for the year 15 483 16 448\nAttributable to:\nEquity holders of the group 15 566 16 460\nNon-controlling interests (83) (12)\n15 483 16 448\n1\n2\nIncludes the reclassification to the income statement of US$1.14bn relating to the loss of significant influence of VK. Refer to note 4.\nThis relates to (losses)/gains from the changes in share prices of Tencent’s listed investments carried at fair value through other comprehensive income.\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n\nPage 149:\n\nConsolidated income statement\nfor the year ended 31 March 2022\nNotes\n31 March\n2022\nUS$’m\n2021\nUS$’m\nRevenue from contracts with customers 13 6 866 5 116\nCost of providing services and sale of goods 14 (4 804) (3 455)\nSelling, general and administration expenses 14 (2 759) (2 614)\nOther gains/(losses) – net 15 (162) (87)\nOperating loss (859) (1 040)\nInterest income 16 58 83\nInterest expense 16 (403) (262)\nOther finance (loss)/income – net 16 (83) 177\nShare of equity-accounted results 9, 10 9 256 7 095\nImpairment of equity-accounted investments 9, 10 (582) (30)\nDilution gains on equity-accounted investments 9, 10 95 981\nGains on partial disposal of equity-accounted investments 9, 10 12 339 19\nNet (losses)/gains on acquisitions and disposals 17 (1 130) 309\nProfit before taxation 18 691 7 332\nTaxation 19 (97) 67\nProfit for the year 18 594 7 399\nAttributable to:\nEquity holders of the group 18 733 7 449\nNon-controlling interests (139) (50)\n18 594 7 399\nPer share information for the year (US cents)\nEarnings per ordinary share N 22 1 243 459\nDiluted earnings per ordinary share N 22 1 232 450",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_revenue",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue: 35619m",
      "golden_context": "Page 16:\n\nStrong financial performance\nRevenue1\n2022\n2021\n2020\n1 Presented on an economic-interest basis.\n35 619m\n28 756m\n21 455m\nTrading profit1\n2022\n2021\n2020\nStrong revenue1 growth\nwith profitability at the core\nof each business\nUS$35.6bn\n•\n•\n•\n+50% Ecommerce revenue growth.\n17% increase in trading profit from\nprofitable businesses.\nContinued focus on growing both\nNAV and NAV per share over the\nlong term.\nProsus FLIGHT supports\n750\nwomen and girls to acquire\nskills to participate in\nIndia’s digital economy\n•\n•\nProsus FLIGHT aims to create a\nnetwork of female graduates who\ncan become role models for other\nyoung women.\nHuman rights statement cascaded\nto all our group companies.\nNumber of AI models in production\nyear on year:\n+124%\n•\nWe develop or adopt tools and\npractices designed to check the\nquality and representativeness of\ndata and to detect bias in decisions\nbased on the models.\n5 041m\n5 615m\n3 777m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_revenue_growth",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 35619m, prior year: 28756m",
      "golden_context": "Page 16:\n\nStrong financial performance\nRevenue1\n2022\n2021\n2020\n1 Presented on an economic-interest basis.\n35 619m\n28 756m\n21 455m\nTrading profit1\n2022\n2021\n2020\nStrong revenue1 growth\nwith profitability at the core\nof each business\nUS$35.6bn\n•\n•\n•\n+50% Ecommerce revenue growth.\n17% increase in trading profit from\nprofitable businesses.\nContinued focus on growing both\nNAV and NAV per share over the\nlong term.\nProsus FLIGHT supports\n750\nwomen and girls to acquire\nskills to participate in\nIndia’s digital economy\n•\n•\nProsus FLIGHT aims to create a\nnetwork of female graduates who\ncan become role models for other\nyoung women.\nHuman rights statement cascaded\nto all our group companies.\nNumber of AI models in production\nyear on year:\n+124%\n•\nWe develop or adopt tools and\npractices designed to check the\nquality and representativeness of\ndata and to detect bias in decisions\nbased on the models.\n5 041m\n5 615m\n3 777m",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000502_segments",
      "report_id": "ID_000502",
      "company_name": "Prosus",
      "year": 2022,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Classified OLX, Food Delivery, Payments and Fintech, Edtech, Etail, Other Ecommerce, Social and Internet Platforms",
      "golden_context": "Page 6:\n\nSegment overview\nWe focus on high-growth markets and business models that we know well.\nClassifieds\nOur brand OLX, including 15 other brands, are\nsuccessful players in more than 20 core markets\nand make it easy to connect people to buy, sell\nor exchange used goods and services.\nRead more on page 55\nFood Delivery\nOur portfolio of food delivery businesses includes\niFood, Delivery Hero and Swiggy, allowing\ncustomers to place orders for their favourite food\nboth online and via apps to be conveniently\ndelivered wherever they are.\nRead more on page 59\nPayments and Fintech\nPayU is one of the largest online payment\nservices platforms in the world and a leading\npayment gateway for merchants in high-growth\nmarkets and large international companies.\nPayU operates in 20 markets and offers more\nthan 400 payment options.\nRead more on page 62\nEdtech\nWe reach 90% of the Fortune 100 companies\nacross our corporate learning companies,\nincluding Stack Overflow, Skillsoft, GoodHabitz,\nUdemy and Codecademy. In addition, we have\nbuilt a strong presence in K–12 (kindergarten\nto grade 12), with brands including Brainly\nand BYJU’S.\nRead more on page 66\nEtail\neMAG is an ecommerce leader in Central\nand Eastern Europe.\nRead more on page 69\nOther Ecommerce\nIncluded is our Ventures arm which partners with\nentrepreneurs to build prominent technology\ncompanies, with the ambition to fuel the next\nwave of growth for the group.\nRead more on page 72\nSocial and Internet Platforms\nProsus also holds an investment in Tencent,\nChina’s largest and most-used internet\nservices platform.\nRead more on page 77\nRevenue1,2\nUS$3.0bn\nup 86% (93%)\nTrading profit1,2\nUS$25m\nup >100% (down\n59%\nEmployees2\n11 375 99.00% 99.00%\n39.04% 39.85%\nRevenue1\nUS$3.0bn\nup 100% (77%)\nTrading loss1\nUS$724m\ndown >100%\n(84%)\nEmployees\n5 468\n62.54% 27.28%\n32.72%\nRevenue1\nUS$796m\nup 38% (45%)\nTrading loss1\nUS$60m\ndown 12% (13%)\nEmployees\n3 246 100% Iyzico 91.13%\n100% 22.75%\n82.60% 74.09%\n100%\nRevenue1\nUS$425m\nup >100% (55%)\nTrading loss1\nUS$117m\ndown >100%\n(>100%)\nEmployees\n663 37.55% 9.81%\n100% 12.27%\n62.30% 14.93%\n13.18% 18.46%\n42.13%\nRevenue1\nUS$2.3bn\nup 0% (3%)\nTrading loss1\nUS$34m\ndown >100%\n(>100%)\nEmployees\n8 230 79.57%\nRevenue1\nUS$378m\nup 86% (>100%)\nTrading loss1\nUS$200m\ndown <-100%\n(<-100%)\nEmployees\n1 244 13.71% 94.03%\n13.83% 22.63%\nRevenue1\nUS$25.8bn\nup 15% (16%)\nTrading profit1\nUS$6.3bn\nup 3% (4%)\n28.81%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_cash_flow",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -120m, investing: 12643m, financing: -12451m",
      "golden_context": "Page 93:\n\nConsolidated statement of cash flows\nfor the year ended 31 March 2023\n31 March\nNotes\n2023\nUS$’m\n2022\nUS$’m\nCash flows from operating activities\nCash utilised in operations 18 (349) (644)\nDividends received from equity-accounted investments 572 571\nCash generated from/(utilised in) operating activities 223 (73)\nInterest income received 315 38\nInterest costs paid (551) (381)\nTaxation paid (107) (189)\nNet cash utilised in operating activities (120) (605)\nCash flows from investing activities\nProperty, plant and equipment acquired (229) (212)\nProceeds from sale of property, plant and equipment 11 8\nIntangible assets acquired (33) (30)\nProceeds from sale of intangible assets (1)–\nAcquisitions of subsidiaries and businesses, net of cash 11 (18) (1 896)\nDisposals of subsidiaries and businesses, net of cash 12 2 055 20\nAcquisition of associates 6 (12) (1 361)\nAdditional investment in existing associates 6 (292) (1 316)\nPartial disposals of associates 6 10 613 14 609\nDisposal of associates– 12\nAdditional investments in existing joint ventures– (7)\nAcquisition of short-term investments1 (6 605) (3 922)\nMaturity of short-term investments1 3 924 1 211\nRepayment of loans/(loans advanced) to related parties 42 58 (21)\nCash paid for other investments2 6 (559) (1 477)\nCash received from other investments2 6 3 764 85\nAcquisition of Naspers shares3 23– (1 287)\nCash movement in other investing activities (33) (24)\n12 643 2 403\n72 (69) 9 628 6 190\n(124)\n3 562\n(94)–\nNet cash generated from investing activities Cash flows from financing activities\nPayments for the repurchase of own shares 23 (9 901) (4 995)\nProceeds from issue of share capital 23– 66\nProceeds from long and short-term loans raised 30 104 9 564\nRepayments of long and short-term loans 30 (56) (1 619)\nCapital restructure as a result of the share repurchase programme4 (615)–\nAdditional investments in existing subsidiaries5 (1 606) (148)\nRepayments of capitalised lease liabilities 30 (51) (51)\nContributions made to the Naspers share trusts 42 (191) (190)\nAdditional investment from non-controlling shareholders 67 140\nDividends and capital repayments to shareholders (191) (238)\nCash movements in other financing activities (11) (126)\nNet cash (utilised in)/generated from financing activities 4 392\n(12 451) Net movement in cash and cash equivalents Foreign exchange translation adjustments on cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents classified as held for sale 36 Cash and cash equivalents at the end of the year 26 9 537 9 628\n1 Relates to short-term cash investments with maturities of more than three months from the date of acquisition. Refer to note 27.\n2 Relates mainly to the group’s investments measured at fair value. Cash received from other investments includes US$54m dividends received from the JD.com\ninvestment.\n3 Relates to payments for the group’s acquisition of Naspers shares included in fair value through other comprehensive income investments prior to th",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_company_type",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "N.V.",
      "golden_context": "Page 2:\n\n annual report shall bear the meanings ascribed to them in the glossary unless context clearly states otherwise.\nAlternative performance measures\nIn presenting and discussing our performance, we use certain alternative performance measures not defined by IFRS, referred to as\nnon-IFRS-EU financial measures, alternative performance measures or APMs. Such measures include economic-interest-basis\ninformation; trading profit; adjusted EBITDA; headline earnings; core headline earnings; and growth in local currency, excluding\nacquisitions and disposals. Segmental reviews in this report are prepared showing revenue on an economic-interest basis (which\nincludes consolidated subsidiaries and a proportionate share of associated companies and joint ventures), unless otherwise stated.\nNumbers included in brackets represent the equivalent measure on the basis of growth in local currency, excluding acquisitions and\ndisposals. For a further explanation of the use of APMs, refer to about this report in the governance section.\nForward-looking statements\nThis report contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995\nconcerning our financial condition, results of operations and businesses. These forward-looking statements are subject to a number\nof risks and uncertainties, many of which are beyond our control and all of which are based on our current beliefs and expectations\nabout future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as ‘believes’,\n‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘intends’, ‘estimates’, ‘plans’, ‘assumes’ or ‘anticipates’, or associated negative, or other\nvariations or comparable terminology, or by discussions of strategy that involve risks and uncertainties. These forward-looking\nstatements and other statements contained in this report on matters that are not historical facts involve predictions.\nNo assurance can be given that such future results will be achieved. Actual events or results may differ materially as a result of risks\nand uncertainties implied in such forward-looking statements.\nA number of factors could affect our future operations and could cause those results to differ materially from those expressed in the\nforward-looking statements, including (without limitation): (a) changes to IFRS and associated interpretations, applications\nand practices as they apply to past, present and future periods; (b) ongoing and future acquisitions, changes to domestic and\ninternational business and market conditions such as exchange rate and interest rate movements; (c) changes in domestic and\ninternational regulatory and legislative environments; (d) changes to domestic and international operational, social, economic and\npolitical conditions; (e) labour disruptions and industrial action; and (f) the effects of both current and future litigation. The forward-\nlooking statements contained in this report apply only as of the date of the report. We are not under any obligation to (and\nexpressly disclaim any such obligation to) revise or update any forward-looking statements to reflect events or circumstances after\nthe date of the report or to reflect the occurrence of unanticipated events. We cannot give any assurance that forward-looking\nstatements will prove correct and investors are cautioned not to place undue reliance on any forward-looking statements.\nStatement on European Single Electronic Format (ESEF)\nThis document is the PDF/printed version of the 2023 annual report of Prosus N.V. The 2023 annual report was made publicly\navailable pursuant to section 5:25c of the Dutch Financial Supervision Act (Wet op het financieel toezicht), and was filed with the\nNetherlands Authority for the Financial Markets in European single electronic reporting format (the ESEF package).\nThe ESEF package is available on the company’s website at www.prosus.com and includes a human-readable XHTML version of the\n2023 annual report. In any case of discrepancies between this PDF version and the ESEF package, the latter prevails. The\nindependent auditor’s report included in this PDF/printed version relates only to the ESEF package.\nPROSUS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_key_financials",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue from continuing operations: 32.2bn, trading profit: 3.4bn",
      "golden_context": "Page 4:\n\nnapshot FY23\nA reduction in the holding\ncompany discount\n16 percentage points\n» Repurchased US$10.5bn Prosus and Naspers\nshares since June 2022\n» 152 797 117 ordinary shares N repurchased\n» 4 152 285 Naspers N ordinary shares\npurchased\n» NAV per share accretion1 of 4.5%\nSupport to those\nimpacted by the war in\nUkraine\n» Renounced the group’s interest in VK\n» Disposed of Avito on 14 October 2022\nfor RUB151bn (US$2.4bn) to Kismet\nCapital Group\n» We allocated US$4.5m to Tvoya Opora and\nUS$2.5m to the Kolo Charitable Foundation\nto procure medical supplies and equipment\nWe developed our climate\ntargets by applying the\nScience-based\nTargets\ninitiative’s (SBTi)\nguidance\n» Implemented actions towards absolute\nreductions of scope 1 and 2 emissions to\nzero (for Prosus corporate entities). Improved\nGHG reporting by including scope 3\n» We developed group principles and\napproaches to help our subsidiaries and\nassociates develop impactful packaging\nstrategies\nRevenue2 from continuing\noperations\nUS$32.2bn\n» 23% growth on revenue from our\nconsolidated Ecommerce business\n» Trading loss from our consolidated\nEcommerce business widened by US$95m\nCommitment to\nprofitability\n» Commitment to deliver consolidated\nEcommerce trading profit in the first half of\nFY25\nDiversity and\ninclusion training\ncascaded to all group\ncompanies\n» Employee inclusivity is core to our success as\na business\n1 NAV per-share accretion includes all per-share enhancing actions: the Prosus repurchase programme and Naspers purchase programme initiated in FY21, the\nvoluntary share exchange programme executed in FY22, the Prosus share repurchase initiated in FY22 and open-ended share repurchase programme initiated\nin FY23.\n4 PROSUS\nAnnual report 2023\nTotal taxes paid\nUS$1.1bn\n» Direct taxes levied: US$729m and indirect\ntaxes collected: US$391m\n» Prosus’ approach to tax centres around\npaying taxes in the countries where we\noperate\nProsus FLIGHT supports\n750 women and girls to\nacquire skills to participate\nin India’s digital economy\n» Prosus FLIGHT aims to create a network of\nfemale graduates who can become role\nmodels for other young women\n» Human rights statement reinforced with all\nour group companies\nCost-saving\ninitiatives\n» Reduction in corporate workforce by 30%\nand broader action to reduce other\nsignificant costs\n>500 data scientists\nnow part of the Prosus AI\ncommunity\nStrong financial performance\nRevenue2 (US$’m)\n33 968\n32 213\n28 342\n2021 2022 2023\nTrading profit2 (US$’m)\n5 468\n4 946\n3 403\n2021 2022 2023\n2 Presented on an economic-\ninterest basis from continuing\noperations.\nGroup overview Performance review Sustainability review Governance Financial statements Other information\nPROSUS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_revenue",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue from continuing operations: 32.2bn",
      "golden_context": "Page 4:\n\nnapshot FY23\nA reduction in the holding\ncompany discount\n16 percentage points\n» Repurchased US$10.5bn Prosus and Naspers\nshares since June 2022\n» 152 797 117 ordinary shares N repurchased\n» 4 152 285 Naspers N ordinary shares\npurchased\n» NAV per share accretion1 of 4.5%\nSupport to those\nimpacted by the war in\nUkraine\n» Renounced the group’s interest in VK\n» Disposed of Avito on 14 October 2022\nfor RUB151bn (US$2.4bn) to Kismet\nCapital Group\n» We allocated US$4.5m to Tvoya Opora and\nUS$2.5m to the Kolo Charitable Foundation\nto procure medical supplies and equipment\nWe developed our climate\ntargets by applying the\nScience-based\nTargets\ninitiative’s (SBTi)\nguidance\n» Implemented actions towards absolute\nreductions of scope 1 and 2 emissions to\nzero (for Prosus corporate entities). Improved\nGHG reporting by including scope 3\n» We developed group principles and\napproaches to help our subsidiaries and\nassociates develop impactful packaging\nstrategies\nRevenue2 from continuing\noperations\nUS$32.2bn\n» 23% growth on revenue from our\nconsolidated Ecommerce business\n» Trading loss from our consolidated\nEcommerce business widened by US$95m\nCommitment to\nprofitability\n» Commitment to deliver consolidated\nEcommerce trading profit in the first half of\nFY25\nDiversity and\ninclusion training\ncascaded to all group\ncompanies\n» Employee inclusivity is core to our success as\na business\n1 NAV per-share accretion includes all per-share enhancing actions: the Prosus repurchase programme and Naspers purchase programme initiated in FY21, the\nvoluntary share exchange programme executed in FY22, the Prosus share repurchase initiated in FY22 and open-ended share repurchase programme initiated\nin FY23.\n4 PROSUS\nAnnual report 2023\nTotal taxes paid\nUS$1.1bn\n» Direct taxes levied: US$729m and indirect\ntaxes collected: US$391m\n» Prosus’ approach to tax centres around\npaying taxes in the countries where we\noperate\nProsus FLIGHT supports\n750 women and girls to\nacquire skills to participate\nin India’s digital economy\n» Prosus FLIGHT aims to create a network of\nfemale graduates who can become role\nmodels for other young women\n» Human rights statement reinforced with all\nour group companies\nCost-saving\ninitiatives\n» Reduction in corporate workforce by 30%\nand broader action to reduce other\nsignificant costs\n>500 data scientists\nnow part of the Prosus AI\ncommunity\nStrong financial performance\nRevenue2 (US$’m)\n33 968\n32 213\n28 342\n2021 2022 2023\nTrading profit2 (US$’m)\n5 468\n4 946\n3 403\n2021 2022 2023\n2 Presented on an economic-\ninterest basis from continuing\noperations.\nGroup overview Performance review Sustainability review Governance Financial statements Other information\nPROSUS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_revenue_growth",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue from continuing operations: 32.2bn, prior year: 34bn",
      "golden_context": "Page 4:\n\nnapshot FY23\nA reduction in the holding\ncompany discount\n16 percentage points\n» Repurchased US$10.5bn Prosus and Naspers\nshares since June 2022\n» 152 797 117 ordinary shares N repurchased\n» 4 152 285 Naspers N ordinary shares\npurchased\n» NAV per share accretion1 of 4.5%\nSupport to those\nimpacted by the war in\nUkraine\n» Renounced the group’s interest in VK\n» Disposed of Avito on 14 October 2022\nfor RUB151bn (US$2.4bn) to Kismet\nCapital Group\n» We allocated US$4.5m to Tvoya Opora and\nUS$2.5m to the Kolo Charitable Foundation\nto procure medical supplies and equipment\nWe developed our climate\ntargets by applying the\nScience-based\nTargets\ninitiative’s (SBTi)\nguidance\n» Implemented actions towards absolute\nreductions of scope 1 and 2 emissions to\nzero (for Prosus corporate entities). Improved\nGHG reporting by including scope 3\n» We developed group principles and\napproaches to help our subsidiaries and\nassociates develop impactful packaging\nstrategies\nRevenue2 from continuing\noperations\nUS$32.2bn\n» 23% growth on revenue from our\nconsolidated Ecommerce business\n» Trading loss from our consolidated\nEcommerce business widened by US$95m\nCommitment to\nprofitability\n» Commitment to deliver consolidated\nEcommerce trading profit in the first half of\nFY25\nDiversity and\ninclusion training\ncascaded to all group\ncompanies\n» Employee inclusivity is core to our success as\na business\n1 NAV per-share accretion includes all per-share enhancing actions: the Prosus repurchase programme and Naspers purchase programme initiated in FY21, the\nvoluntary share exchange programme executed in FY22, the Prosus share repurchase initiated in FY22 and open-ended share repurchase programme initiated\nin FY23.\n4 PROSUS\nAnnual report 2023\nTotal taxes paid\nUS$1.1bn\n» Direct taxes levied: US$729m and indirect\ntaxes collected: US$391m\n» Prosus’ approach to tax centres around\npaying taxes in the countries where we\noperate\nProsus FLIGHT supports\n750 women and girls to\nacquire skills to participate\nin India’s digital economy\n» Prosus FLIGHT aims to create a network of\nfemale graduates who can become role\nmodels for other young women\n» Human rights statement reinforced with all\nour group companies\nCost-saving\ninitiatives\n» Reduction in corporate workforce by 30%\nand broader action to reduce other\nsignificant costs\n>500 data scientists\nnow part of the Prosus AI\ncommunity\nStrong financial performance\nRevenue2 (US$’m)\n33 968\n32 213\n28 342\n2021 2022 2023\nTrading profit2 (US$’m)\n5 468\n4 946\n3 403\n2021 2022 2023\n2 Presented on an economic-\ninterest basis from continuing\noperations.\nGroup overview Performance review Sustainability review Governance Financial statements Other information\nPROSUS",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000503_segments",
      "report_id": "ID_000503",
      "company_name": "Prosus",
      "year": 2023,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Food Delivery, Paymnets and Fintech, Classifieds, Edtech, Etail, Social and internet platforms, Other ecommerce: Ventures",
      "golden_context": "Page 7:\n\nSegment overview\nWe focus on high-growth markets and business models that\nwe know well.\nFood Delivery\nOur portfolio of food-delivery businesses allows\ncustomers to order their favourite food online and\nvia apps to be conveniently delivered wherever\nthey are.\nRead more on page 48.\n96.05% 29.83%\nPayments and Fintech\nPayU is an online payment services platform\nthat has processed more than US$78bn payment\nvolumes globally and is a payment gateway for\nmerchants in high-growth markets as well as large\ninternational companies.\nPayU operates on four continents, in 17 high-growth\nmarkets and offers over 300 payment options.\nRead more on page 54.\n100% 91.13%\nRevenue1\nUS$4.2bn\nup 40% (44%)\n32.83%\nTrading loss1\nUS$649m\ndown >10% (12%)\nEmployees\n5 210\n100% 21.44%\n85.37% 96.54%\nClassifieds2\nOLX serves hundreds of millions of people every\nmonth across five continents, helping people buy\nand sell cars, find housing, get jobs and buy and\nsell household goods.\nRead more on page 52.\n99.00% 37.57%\nRevenue1\nUS$1.6bn\nup 19% (42%)\nTrading loss1\nUS$156m\nup >100%\n(>100%)\nEmployees\n4 500\nRevenue1\nUS$1.1bn\nup 32% (51%)\n100%\nTrading loss1\nUS$116m\nup 93% (72%)\nEmployees\n3 447\nEdtech\nWe reach 90% of Fortune 100 companies across\nour corporate learning platforms. We also have a\nstrong presence in K–12 (kindergarten to grade 12)\nin key markets.\nRead more on page 58.\n37.25% 62.23%\n100%\nTrading loss1\nUS$258m\nup >100% (54%)\nRevenue1\nUS$545m\nup 28% (18%)\nEmployees\n859\n10 PROSUS\nAnnual report 2023\nEtail\neMAG is an ecommerce leader in Central and\nEastern Europe.\nRead more on page 62.\n80.08%\nRevenue1\nUS$2.0bn\ndown 14% (4%)\nTrading loss1\nUS$63m\nup 80% (80%)\nEmployees\n7 698\nOther ecommerce: Ventures\nIncludes our Ventures arm that partners with\nentrepreneurs to build prominent technology\ncompanies, aiming to fuel the next wave of growth\nfor the group.\nRead more on page 66.\n22.82% 10.77%\n13.83% 22.63%\n9.21% 11.36%\nRevenue1\nUS$616m\nup 63% (67%)\n8.04%\nTrading loss1\nUS$267m\nup 34% (22%)\nEmployees\n750\nSocial and internet platforms\nProsus holds an investment in Tencent, China’s\nlargest and most-used internet services platform.\nRead more on page 68.\n26.16%\nRevenue1\nUS$22.3bn\ndown 12%\n(1%)\nTrading profit1\nUS$5.1bn\ndown 19%\n(9%)\nOur group includes\nsome of the best-loved\nlocal consumer internet\ncompanies in around\n100 countries, spanning\nthe Americas to Asia,\nEurope to South Africa.\nGroup overview Performance review Sustainability review Governance Financial statements Other information\n1 Presented on an economic-interest basis from continuing operations.\n2 From 1 March 2023, following the group’s decision to exit the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_cash_flow",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1045m, investing: 209m, financing: -8116m",
      "golden_context": "Page 122:\n\nConsolidated statement of cash flows\nfor the year ended 31 March 2024\nNotes to the consolidated financial statements\nfor the year ended 31 March 2024\n31 March\n2024\nUS$’m\n2023\nUS$’m\nNotes\nCash flows from operating activities\nCash generated from/(utilised in) operations 18 134 (349)\nDividends received from equity-accounted investments 759 572\nCash generated from operating activities 893 223\nInterest income received 847 315\nInterest costs paid (557) (551)\nTaxation paid (138) (107)\nNet cash generated from/(utilised in) operating activities 1 045 (120)\nCash flows from investing activities\nProperty, plant and equipment acquired (42) (229)\nProceeds from sale of property, plant and equipment 10 11\nIntangible assets acquired (25) (33)\nProceeds from sale of intangible assets 1 (1)\nAcquisitions of subsidiaries and businesses, net of cash 11 (2) (18)\nDisposals of subsidiaries and businesses, net of cash 12 193 2 055\nAcquisition of associates 6– (12)\nAdditional investment in existing associates 6 (49) (292)\nPartial disposals of associates 6 7 256 10 613\nAcquisition of short-term investments1 (13 738) (6 605)\nMaturity of short-term investments1 6 709 3 924\nRepayment of loans/(loans advanced) to related parties 42 37 58\nCash paid for other investments2 28 (136) (559)\nCash received from other investments3 28 14 3 764\nCash movement in other investing activities (19) (33)\nNet cash generated from investing activities 209 12 643\nCash flows from financing activities\nPayments for the repurchase of own shares Proceeds from long and short-term loans raised Repayments of long and short-term loans Capital restructure as a result of the share-repurchase programme4\nAdditional investments in existing subsidiaries5 Repayments of capitalised lease liabilities Contributions made to the Naspers share trusts Additional investment from non-controlling shareholders Dividends and capital repayments to shareholders Cash movements in other financing activities Net cash utilised in financing activities Net movement in cash and cash equivalents Foreign exchange translation adjustments on cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents classified as held for sale Cash and cash equivalents at the end of the year 23 (7 277) (9 901)\n30 59 104\n30 (99) (56)\n– (615)\n(385) (1 606)\n30 (60) (51)\n42 (155) (191)\n3 67\n(199) (191)\n(3) (11)\n(8 116) (12 451)\n(6 862) 72\n(165) (69)\n9 537 9 628\n36 (350) (94)\n2 160 9 537",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_company_type",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "N.V.",
      "golden_context": "Page 77:\n\nGovernance\nIntroduction\nProsus N.V. was incorporated under the laws of the\nNetherlands in 1997 as a private limited liability\ncompany. On 16 May 2019, it was converted to a public\nlimited liability company.\nThe company is governed by Dutch corporate and\nsecurities laws, in particular the Dutch Civil Code\n(Burgerlijk Wetboek) and the Financial Supervision Act\n(Wet op het Financieel Toezicht), its articles of association\nand various internal policies approved by the board\nof directors. In addition, the Dutch Corporate Governance\nCode 2022 applies to the company. A code of business\nethics and conduct (the code) and related internal\npolicies that apply to its employees have also been\nimplemented. These documents are published\non our website.\nIn this section, the main elements of the corporate\ngovernance structure and how Prosus applies the\nprinciples and best practices of the Dutch Corporate\nGovernance Code are discussed.\nInformation required by the Dutch Decree on Corporate\nGovernance (Besluit inhoud bestuursverslag) and the\nDutch Decree on Article 10 Takeover Directive (Besluit\nartikel 10 overnamerichtlijn) is included.\nShare capital\nThe authorised share capital of Prosus totals four hundred\nand one million euros (€401 000 000), split into eight\nbillion ten million and ten thousand (8 010 010 000)\nshares, of which:\n› ten million (10 000 000) are ordinary shares A1 with\na nominal value of 5 euro cents (€0.05) each\n› ten thousand (10 000) are ordinary shares A2 with",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_key_financials",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Revenue from continuing operations: 31744m, trading profit from continuing operations: 5798m",
      "golden_context": "Page 4:\n\nStrong financial performance\nRevenue1 (US$’m)\nA diverse team of 31 people in\ndata privacy roles in 10 jurisdictions\nacross the globe\n› Prosus is a foundational supporter of the new\nAI governance professional certification\n› 40 professionals across our group are preparing\nto obtain this certification with dedicated support\nfrom the Prosus privacy office and Prosus\nAI team\nOur culture –\nConnect. Build. Thrive.\n› Refined and flattened our organisational\nstructure which better aligns with our strategy for\nsustainable growth\n› Team and culture play a critical role in achieving\nour long-term goals and reigniting our legacy\nof building and investing in exceptional\nbusinesses for sustainable returns\nTotal taxes paid\nUS$1.2bn\n› Direct taxes levied: US$845m and indirect taxes\ncollected: US$367m\n› Prosus’ approach to tax centres around paying\ntaxes in the countries where we operate\nSome 43% increase in Prosus\ndividend to free-float shareholders\n› The board recommends that holders of ordinary\nshares N receive a distribution of 10 euro cents\n› Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\nValue creation for the group in terms of\nthe share-repurchase programme:\nUS$30bn\n› Tencent’s share buyback programme should\nresult in the group increasing net asset value\nper share\n› Increase of 8.2% in NAV per share for\nshareholders since the beginning of the\nrepurchase programme\n› Ongoing repurchase programme to continue\nFabricio Bloisi appointed as\nchief executive\n› Appointed new chief executive effective\n10 July 2024\n› Reviewed and interviewed some 60 high quality\ninternal and external candidates, each with their\nown unique strengths and merits\n› Ervin Tu will take on the new role of president\nand CIO\n33 367\n31 393 31 744\n28 342\n2021 2022 2023 2024\nTrading profit1 (US$’m)\n5 798\n5 468\n5 053\n3 606\n2021 2022 2023 2024\n1 Presented on an economic-interest\nbasis from continuing operations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_revenue",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Revenue from continuing operations: 31744m",
      "golden_context": "Page 4:\n\nStrong financial performance\nRevenue1 (US$’m)\nA diverse team of 31 people in\ndata privacy roles in 10 jurisdictions\nacross the globe\n› Prosus is a foundational supporter of the new\nAI governance professional certification\n› 40 professionals across our group are preparing\nto obtain this certification with dedicated support\nfrom the Prosus privacy office and Prosus\nAI team\nOur culture –\nConnect. Build. Thrive.\n› Refined and flattened our organisational\nstructure which better aligns with our strategy for\nsustainable growth\n› Team and culture play a critical role in achieving\nour long-term goals and reigniting our legacy\nof building and investing in exceptional\nbusinesses for sustainable returns\nTotal taxes paid\nUS$1.2bn\n› Direct taxes levied: US$845m and indirect taxes\ncollected: US$367m\n› Prosus’ approach to tax centres around paying\ntaxes in the countries where we operate\nSome 43% increase in Prosus\ndividend to free-float shareholders\n› The board recommends that holders of ordinary\nshares N receive a distribution of 10 euro cents\n› Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\nValue creation for the group in terms of\nthe share-repurchase programme:\nUS$30bn\n› Tencent’s share buyback programme should\nresult in the group increasing net asset value\nper share\n› Increase of 8.2% in NAV per share for\nshareholders since the beginning of the\nrepurchase programme\n› Ongoing repurchase programme to continue\nFabricio Bloisi appointed as\nchief executive\n› Appointed new chief executive effective\n10 July 2024\n› Reviewed and interviewed some 60 high quality\ninternal and external candidates, each with their\nown unique strengths and merits\n› Ervin Tu will take on the new role of president\nand CIO\n33 367\n31 393 31 744\n28 342\n2021 2022 2023 2024\nTrading profit1 (US$’m)\n5 798\n5 468\n5 053\n3 606\n2021 2022 2023 2024\n1 Presented on an economic-interest\nbasis from continuing operations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_revenue_growth",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue from continuing operations: 31744m, prior year: 31393m",
      "golden_context": "Page 4:\n\nStrong financial performance\nRevenue1 (US$’m)\nA diverse team of 31 people in\ndata privacy roles in 10 jurisdictions\nacross the globe\n› Prosus is a foundational supporter of the new\nAI governance professional certification\n› 40 professionals across our group are preparing\nto obtain this certification with dedicated support\nfrom the Prosus privacy office and Prosus\nAI team\nOur culture –\nConnect. Build. Thrive.\n› Refined and flattened our organisational\nstructure which better aligns with our strategy for\nsustainable growth\n› Team and culture play a critical role in achieving\nour long-term goals and reigniting our legacy\nof building and investing in exceptional\nbusinesses for sustainable returns\nTotal taxes paid\nUS$1.2bn\n› Direct taxes levied: US$845m and indirect taxes\ncollected: US$367m\n› Prosus’ approach to tax centres around paying\ntaxes in the countries where we operate\nSome 43% increase in Prosus\ndividend to free-float shareholders\n› The board recommends that holders of ordinary\nshares N receive a distribution of 10 euro cents\n› Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\nValue creation for the group in terms of\nthe share-repurchase programme:\nUS$30bn\n› Tencent’s share buyback programme should\nresult in the group increasing net asset value\nper share\n› Increase of 8.2% in NAV per share for\nshareholders since the beginning of the\nrepurchase programme\n› Ongoing repurchase programme to continue\nFabricio Bloisi appointed as\nchief executive\n› Appointed new chief executive effective\n10 July 2024\n› Reviewed and interviewed some 60 high quality\ninternal and external candidates, each with their\nown unique strengths and merits\n› Ervin Tu will take on the new role of president\nand CIO\n33 367\n31 393 31 744\n28 342\n2021 2022 2023 2024\nTrading profit1 (US$’m)\n5 798\n5 468\n5 053\n3 606\n2021 2022 2023 2024\n1 Presented on an economic-interest\nbasis from continuing operations.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000504_segments",
      "report_id": "ID_000504",
      "company_name": "Prosus",
      "year": 2024,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "Social and internet platforms, Ventures, Payments and Fintech, Food Delivery, Classified, Edtech, Etail",
      "golden_context": "Page 8:\n\nSegment overview\nWe focus on high-growth markets and business models that we know well.\nStructure fit for today’s purpose\nWe have refined our organisational\nstructure into one that is fit for today’s\npurpose and our strategy for the\nlong term, which is to be an insightful\ncapital allocator and operator across\nexceptional businesses.\nSocial and internet platforms\nProsus holds an investment in Tencent, China’s largest and\nmost-used internet services platform.\nRead more on page 45.\n24.6%\nRevenue1\nUS$21.4bn\ndown 4%\n(organically up 10%)\nTrading profit1\nUS$6.2bn\nup 22% (40%)\nVentures\nOur Ventures arm partners with entrepreneurs to build prominent\ntechnology companies, aiming to fuel the next wave of growth for\nthe group.\nRead more on page 44.\nPayments and Fintech\nPayU enables business to collect digital payments across +150 online payment\nmethods, including credit cards, debit cards, wallets, QR and more. It is\na leading payment service provider in India with an emerging presence\nin south-east Asia though Red Dot Payment. PayU’s credit division helps online\nmerchants to offer buy-now/pay-later (BNPL) and other consumer credit options.\nRead more on page 37.\n22.8% 4.4%\n13.8% 22.6%\n9.2% 11.1%\n11.3%\nRevenue1\nUS$556m\ndown 10% (6%)\nTrading loss1\nUS$129m\ndown 52% (49%)\n585\nEmployees\n100% 86.4%\n100% 19.8%\n100% 100%\n100%\nRevenue1\nUS$1.3bn\nTrading loss1\nUS$59m\nEmployees\n3 553\nup 24% (39%)\ndown 49% (61%)\nFood Delivery\nOur portfolio of food-delivery businesses allows\ncustomers to order their favourite food online and via\napps for convenient delivery wherever they are.\nRead more on page 33.\n97.1% 29.3%\n32.6%\nRevenue1\nUS$4.9bn\nup 16% (19%)\nTrading loss1\nUS$158m\ndown 76% (76%)\nEmployees\n5 215\nClassifieds\nOLX serves tens of millions of people every month,\nhelping people buy and sell cars, find housing, get jobs,\nand buy and sell household goods.\nRead more on page 35.\n99.0% 37.6%\nRevenue1\nUS$951m\nup 26% (19%)\nTrading profit1\nUS$187m\nup >100%\n(>100%)\nEmployees\n2 811\nEdtech\nTo date, we have invested over US$3.9bn in\n12 businesses. Many of our edtech companies are\ndeploying GenAI technologies in their platforms\nto enhance the learning experience for their users.\nRead more on page 39.\n37.9% 100%\nRevenue1\nUS$444m\ndown 19%\n(organically up 7%)\nTrading loss1\nUS$80m\ndown 69% (44%)\nEmployees\n677\n68.9%\nEtail\neMAG is an ecommerce leader in Central and Eastern\nEurope.\nRead more on page 41.\n88.0%\nRevenue1\nUS$2.2bn\nup 14% (8%)\nTrading loss1\nUS$36m\ndown 43% (44%)\nEmployees\n8 041\nOur group includes some of\nthe best-loved local consumer\ninternet companies in around\n80 countries, spanning the\nAmericas to Asia, Europe\nto South Africa.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_cash_flow",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1920m, investing: 11875m, financing: -8739m",
      "golden_context": "Page 137:\n\nConsolidated statement of cash flows\nfor the year ended 31 March 2025\nNotes to the consolidated financial statements\nfor the year ended 31 March 2025\n136\n31 March\nNotes\nCash flows from operating activities\nCash generated from operations Dividends received from equity accounted investments 18 599 134\n1 001 759\nCash generated from operating activities 1 600 893\nInterest income received 959 847\nInterest costs paid (528) (557)\nTaxation paid (111) (138)\nNet cash generated from operating activities 2025\nUS$’m\n2024\nUS$’m\n1 920 1 045\nCash flows from investing activities\nProperty, plant and equipment acquired (83) (42)\nProceeds from sale of property, plant and equipment 3 10\nIntangible assets acquired (23) (25)\nProceeds from sale of intangible assets 1 1\nAcquisitions of subsidiaries and businesses, net of cash 11 (118) (2)\nDisposals of subsidiaries and businesses, net of cash 12 482 193\nAcquisition of associates 6 (236)–\nAdditional investment in existing associates 6 (119) (49)\nPartial disposals of associates 6 8 864 7 256\nAcquisition of short-term investments1 (23 264) (13 738)\nMaturity of short-term investments1 25 114 6 709\nRepayment of loans from related parties 42 47 37\nCash paid for other investments2 28 (263) (136)\nCash received from other investments3 28 1 506 14\nCash movement in other investing activities (36) (19)\nNet cash generated from investing activities 11 875 209\nCash flows from financing activities\nPayments for the repurchase of own shares 23 (8 420) (7 277)\nProceeds from long and short-term loans raised 30 110 59\nRepayments of long and short-term loans 30 (43) (99)\nAdditional investments in existing subsidiaries4 (64) (385)\nRepayments of capitalised lease liabilities 30 (48) (60)\nContributions made to the Naspers share trusts 42 (46) (155)\nAdditional investment from non-controlling shareholders 49 3\nDividends and capital repayments to shareholders (268) (199)\nCash movements in other financing activities (9) (3)\nNet cash utilised in financing activities (8 739) (8 116)\nNet movement in cash and cash equivalents Foreign exchange translation adjustments on cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents classified as held for sale 5 056 (95) 2 160 (6 862)\n(165)\n9 537\n36 (47) (350)\nCash and cash equivalents at the end of the year 26 7 074 2 160\n1 Relates to short-term cash investments with maturities of more than three months from the date of acquisition. Refer to note 27.\n2 Relates to the acquisition of the group’s investments measured at fair value through other comprehensive income.\n3 Relates to the disposal of the group’s investments measured at fair value through other comprehensive income, primarily the investment in Trip.co",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_company_type",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "company_type",
      "golden_answer": "N.V.",
      "golden_context": "Page 19:\n\nGeneral information\nProsus N.V. (Prosus or the group) is a public company\nwith limited liability (naamloze vennootschap)\nincorporated under Dutch law, with its registered head\noffice located at Symphony Offices, Gustav Mahlerplein 5,\n1082 MS Amsterdam, the Netherlands, (registered in the\nDutch commercial register under number 34099856).\nProsus is a subsidiary of Naspers Limited (Naspers),\na company incorporated in South Africa.\nOn 11 September 2019, Prosus was listed on the Euronext\nAmsterdam stock exchange. Prosus has secondary listings\non the JSE Limited’s stock exchange (JSE) and A2X\nMarkets in South Africa.\nThe Prosus group is a global consumer internet group\nand one of the largest technology investors in the world.\nOperating and investing in countries and markets across\nthe world with long-term growth potential, Prosus builds\nleading companies that empower people and enrich\nNico Marais\nChief financial officer\ncommunities. The group operates and partners with\nseveral leading internet businesses across Asia, Central\nand Eastern Europe, the Middle East, Americas and\nAfrica in sectors including online classifieds, food\ndelivery, payments and fintech, education, health, etail,\nand social and internet platforms.\nThis directors’ report, within the meaning of article 391\nof Book 2 of the Dutch Civil Code (article 391), includes\nthe following:\n» Operating review\n» Financial review\n» Segmental review.\nThe section operating review, including the financial\nreview and segmental review, provides information\non the developments and the results for the ye",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_key_financials",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "key_financials",
      "golden_answer": "Group revenue: 6170m, ecommerce aEBIT 443m, group aEBIT: 179m",
      "golden_context": "Page 11:\n\nStrong financial performance\nGroup revenue\n(US$’m)\nEcommerce aEBIT\n(US$'m)\n10\nRapidly expanding our\nAI impact\n» +20 000 colleagues are using Toqan, the\nProsus AI Assistant daily – averaging an 11%\nproductivity gain\n» Deployed GenAI across a wide range of use\ncases. iFood has deployed a GenAI-powered\nassistant to further support the work of customer\nservice teams, increasing customer satisfaction.\nOLX Magic creates a new buying experience\nbased on a conversational interface\nSome 100% increase in\nProsus dividend to free-float\nshareholders\n» The board recommends that holders of ordinary\nshares N receive a distribution of 20 euro cents\n(FY24:10 euro cents)\n» Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\n443\n6 170\n5 467\n4 947\n4 619\n38\n2022\n2023 2024 2025\n(381) (413)\n2022\n2023 2024 2025\nCreating value from our share-\nrepurchase programme: US$35bn\n» The share buyback programme continues to result in\nthe group increasing net asset value (NAV) per share\nwith an 11% increase since the start of the repurchase\nprogramme\n» Ongoing programme\n» Reduced free float by over 27% since initiation\nin June 2022\nStrong, experienced, focused\nmanagement team\n» Fabricio Bloisi appointed chief executive\nin July 2024\n» Stretched corporate targets have to be met for\nexecutive team incentives to be paid\nGroup aEBIT\n(US$’m)\n179\nTotal taxes paid\nUS$1.04bn\n» Direct taxes levied: US$606m and indirect taxes\ncollected: US$435m\n» Prosus’ approach to tax is to pay taxes in the\ncountries where we operate\nThe data privacy team is a diverse\nteam of 29 people of whom\n25 individuals hold a privacy\ncertification from IAPP\n» Prosus is a foundational supporter of the new\nAI governance professional certification\n» 15 internal audits with data privacy components\nwere conducted\n(537)\n2022\n(118)\n(586)\n2023 2024 2025",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_revenue",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue",
      "golden_answer": "Group revenue: 6170m, prior year: 5467m",
      "golden_context": "Page 11:\n\nStrong financial performance\nGroup revenue\n(US$’m)\nEcommerce aEBIT\n(US$'m)\n10\nRapidly expanding our\nAI impact\n» +20 000 colleagues are using Toqan, the\nProsus AI Assistant daily – averaging an 11%\nproductivity gain\n» Deployed GenAI across a wide range of use\ncases. iFood has deployed a GenAI-powered\nassistant to further support the work of customer\nservice teams, increasing customer satisfaction.\nOLX Magic creates a new buying experience\nbased on a conversational interface\nSome 100% increase in\nProsus dividend to free-float\nshareholders\n» The board recommends that holders of ordinary\nshares N receive a distribution of 20 euro cents\n(FY24:10 euro cents)\n» Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\n443\n6 170\n5 467\n4 947\n4 619\n38\n2022\n2023 2024 2025\n(381) (413)\n2022\n2023 2024 2025\nCreating value from our share-\nrepurchase programme: US$35bn\n» The share buyback programme continues to result in\nthe group increasing net asset value (NAV) per share\nwith an 11% increase since the start of the repurchase\nprogramme\n» Ongoing programme\n» Reduced free float by over 27% since initiation\nin June 2022\nStrong, experienced, focused\nmanagement team\n» Fabricio Bloisi appointed chief executive\nin July 2024\n» Stretched corporate targets have to be met for\nexecutive team incentives to be paid\nGroup aEBIT\n(US$’m)\n179\nTotal taxes paid\nUS$1.04bn\n» Direct taxes levied: US$606m and indirect taxes\ncollected: US$435m\n» Prosus’ approach to tax is to pay taxes in the\ncountries where we operate\nThe data privacy team is a diverse\nteam of 29 people of whom\n25 individuals hold a privacy\ncertification from IAPP\n» Prosus is a foundational supporter of the new\nAI governance professional certification\n» 15 internal audits with data privacy components\nwere conducted\n(537)\n2022\n(118)\n(586)\n2023 2024 2025",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_revenue_growth",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "revenue_growth",
      "golden_answer": "Group revenue: 6170m",
      "golden_context": "Page 11:\n\nStrong financial performance\nGroup revenue\n(US$’m)\nEcommerce aEBIT\n(US$'m)\n10\nRapidly expanding our\nAI impact\n» +20 000 colleagues are using Toqan, the\nProsus AI Assistant daily – averaging an 11%\nproductivity gain\n» Deployed GenAI across a wide range of use\ncases. iFood has deployed a GenAI-powered\nassistant to further support the work of customer\nservice teams, increasing customer satisfaction.\nOLX Magic creates a new buying experience\nbased on a conversational interface\nSome 100% increase in\nProsus dividend to free-float\nshareholders\n» The board recommends that holders of ordinary\nshares N receive a distribution of 20 euro cents\n(FY24:10 euro cents)\n» Holders of ordinary shares B and ordinary\nshares A1 will receive an amount per share\nequal to their economic entitlement as set out\nin the articles of association\n443\n6 170\n5 467\n4 947\n4 619\n38\n2022\n2023 2024 2025\n(381) (413)\n2022\n2023 2024 2025\nCreating value from our share-\nrepurchase programme: US$35bn\n» The share buyback programme continues to result in\nthe group increasing net asset value (NAV) per share\nwith an 11% increase since the start of the repurchase\nprogramme\n» Ongoing programme\n» Reduced free float by over 27% since initiation\nin June 2022\nStrong, experienced, focused\nmanagement team\n» Fabricio Bloisi appointed chief executive\nin July 2024\n» Stretched corporate targets have to be met for\nexecutive team incentives to be paid\nGroup aEBIT\n(US$’m)\n179\nTotal taxes paid\nUS$1.04bn\n» Direct taxes levied: US$606m and indirect taxes\ncollected: US$435m\n» Prosus’ approach to tax is to pay taxes in the\ncountries where we operate\nThe data privacy team is a diverse\nteam of 29 people of whom\n25 individuals hold a privacy\ncertification from IAPP\n» Prosus is a foundational supporter of the new\nAI governance professional certification\n» 15 internal audits with data privacy components\nwere conducted\n(537)\n2022\n(118)\n(586)\n2023 2024 2025",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000505_segments",
      "report_id": "ID_000505",
      "company_name": "Prosus",
      "year": 2025,
      "country": "NL",
      "industry": "Communication Services",
      "question_type": "segments",
      "golden_answer": "B2C, Edtech, Food Delivery, Payments, Classifieds, Corporate, Other",
      "golden_context": "Page 108:\n\neadcount by segment\nB2C\nEdtech\nFood Delivery\nPayments\nClassifieds\nCorporate\nOther\n7 559\n663\n7 180\n3 263\n2 875\n321\n298\n34%\n3%\n32%\n15%\n13%\n1.5%\n1.5%\nTotal\n22 159\n100",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_cash_flow",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 3616m, investing: -5168m, financing: -3093m",
      "golden_context": "Page 4:\n\n2. Consolidated statement of cash flows\n(in millions of euros) Note Full Year 2021 Full Year 2020\nProfit for the year 3,273 2,238\nShare of (profit)/losses of associates (84) (66)\nIncome and expenses with no effect on cash flow:\nDepreciation of property, plant and equipment Amortization of intangible assets other than goodwill 11 726 698\n10 688 512\nImpairment losses on non-current assets 34 54\nIncrease/(decrease) in provisions 21 (54) 266\nLosses/(gains) on disposals of business and assets (184) (10)\nDifference between tax paid and tax expense (38) (137)\nOther non-cash adjustments 108 96\nNet cash provided by operating activities 4,469 3,651\nDecrease/(increase) in accounts receivables (577) 326\nDecrease/(increase) in inventories and work in progress (955) (153)\n(Decrease)/increase in accounts payable 418 344\nDecrease/(increase) in other current assets and liabilities 261 267\nChange in working capital requirement (853) 784\nTOTAL I - CASH FLOWS FROM / (USED IN) OPERATING ACTIVITIES 3,616 4,435\nPurchases of property, plant and equipment 11 (543) (485)\nProceeds from disposals of property, plant and equipment 59 55\nPurchases of intangible assets 10 (333) (332)\nNet cash used by investment in operating assets (817) (762)\nAcquisitions and disposals of businesses, net of cash acquired & disposed 2 (4,231) (2,393)\nOther long-term investments 16 11\nIncrease in long-term pension assets (136) (106)\nSub-total (4,351) (2,488)\nTOTAL II - CASH FLOWS FROM / (USED IN) INVESTING ACTIVITIES (5,168) (3,250)\nIssuance of bonds 22 - 2,444\nRepayment of bonds 22 (600) (500)\nSale/(purchase) of own shares (262) (50)\nIncrease/(decrease) in other financial debt (444) 1,032\nIncrease/(decrease) of share capital 19 216 43\nTransaction with non-controlling interests * 2 (418) 1,141\nDividends paid to Schneider Electric’s shareholders 19 (1,447) (1,413)\nDividends paid to non-controlling interests (138) (112)\nTOTAL III - CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIES (3,093) 2,585\nTOTAL IV - NET FOREIGN EXCHANGE DIFFERENCE 346 (403)\nINCREASE/(DECREASE) IN NET CASH AND CASH EQUIVALENTS: I +II +III +IV (4,299) 3,367\nNet cash and cash equivalents, beginning of the year 18 6,762 3,395\nIncrease/(decrease) in cash and cash equivalents (4,299) 3,367\nNET CASH AND CASH EQUIVALENTS, END OF THE YEAR 18 2,463 6,762\n* In 2020, the Group received EUR 1,141 million of cash from AVEVA’s minority interests, following the increase of capital realized by the latter, to finance the\nacquisition of OSISoft (Note 2).\n* In 2021, transactions with non-controlling interests mainly relates to RIB Software SE (Note 2).\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_company_type",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "SE",
      "golden_context": "Page 15:\n\nh and cash equivalents\nCash and cash equivalents presented in the balance sheet consist of cash, bank accounts, term deposits of three months or less and\nmarketable securities traded on organized markets. Marketable securities are short-term, highly liquid investments that are readily con-\nvertible to known amounts of cash at maturity. They notably consist of bank deposits, commercial paper, mutual funds and equivalents.\nConsidering their nature and maturities, these instruments represent insignificant risk of changes in value and are treated as cash equiv-\nalents.\n1.18- Treasury shares\nSchneider Electric SE shares held by the parent company or by fully consolidated companies are measured at acquisition cost and de-\nducted from equity.\nGains/(losses) on the sale of own shares are canceled from consolidated",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_key_financials",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 28905m, gross profit: 11843m, adjustd EBITA: 4987m, Operating income: 4331m, profit from continuing operations before income tax: 4155m",
      "golden_context": "Page 2:\n\n1. Consolidated statement of income\n(in millions of euros except for earnings per share) Note Full Year 2021 Full Year 2020\nRevenue 3 28,905 25,159\nCost of sales (17,062) (15,003)\nGross profit 11,843 10,156\nResearch and development 4 (855) (718)\nSelling, general and administrative expenses (6,001) (5,512)\nAdjusted EBITA * 3 4,987 3,926\nOther operating income and expenses 6 (21) (210)\nRestructuring costs (225) (421)\nEBITA ** 4,741 3,295\nAmortization and impairment of purchase accounting intangibles 5 (410) (207)\nOperating income 4,331 3,088\nInterest income 4 Interest expense (99) (126)\nFinance costs, net (95) (112)\nOther financial income and expense 7 (81) (166)\nNet financial income/(loss) (176) (278)\nProfit from continuing operations before income tax 4,155 2,810\nIncome tax expense 8 (966) (638)\nShare of profit/(loss) of associates 12 84 PROFIT FOR THE YEAR 3,273 2,238\nattributable to owners of the parent 3,204 2,126\nattributable to non-controlling interests 69 Basic earnings (attributable to owners of the parent) per share (in euros per share) 19 5.76 3.84\nDiluted earnings (attributable to owners of the parent) per share (in euros per share) 19 5.67 3.81\n* Adjusted EBITA (Earnings Before Interest, Taxes, Amortization of Purchase Accounting Intangibles). Adjusted EBITA corresponds to operating profit before\n14\n66\n112\namortization and impairment of purchase accounting intangible assets, before goodwill impairment, other operating income and expenses and restructuring\ncosts.\n** EBITA (Earnings Before Interest, Taxes and Amortization of Purchase Accounting Intangibles). EBITA corresponds to operating profit before amortization and\nimpairment of purchase accounting intangible assets and before goodwill impairment.\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_revenue",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Revenue: 28905m",
      "golden_context": "Page 2:\n\n1. Consolidated statement of income\n(in millions of euros except for earnings per share) Note Full Year 2021 Full Year 2020\nRevenue 3 28,905 25,159\nCost of sales (17,062) (15,003)\nGross profit 11,843 10,156\nResearch and development 4 (855) (718)\nSelling, general and administrative expenses (6,001) (5,512)\nAdjusted EBITA * 3 4,987 3,926\nOther operating income and expenses 6 (21) (210)\nRestructuring costs (225) (421)\nEBITA ** 4,741 3,295\nAmortization and impairment of purchase accounting intangibles 5 (410) (207)\nOperating income 4,331 3,088\nInterest income 4 Interest expense (99) (126)\nFinance costs, net (95) (112)\nOther financial income and expense 7 (81) (166)\nNet financial income/(loss) (176) (278)\nProfit from continuing operations before income tax 4,155 2,810\nIncome tax expense 8 (966) (638)\nShare of profit/(loss) of associates 12 84 PROFIT FOR THE YEAR 3,273 2,238\nattributable to owners of the parent 3,204 2,126\nattributable to non-controlling interests 69 Basic earnings (attributable to owners of the parent) per share (in euros per share) 19 5.76 3.84\nDiluted earnings (attributable to owners of the parent) per share (in euros per share) 19 5.67 3.81\n* Adjusted EBITA (Earnings Before Interest, Taxes, Amortization of Purchase Accounting Intangibles). Adjusted EBITA corresponds to operating profit before\n14\n66\n112\namortization and impairment of purchase accounting intangible assets, before goodwill impairment, other operating income and expenses and restructuring\ncosts.\n** EBITA (Earnings Before Interest, Taxes and Amortization of Purchase Accounting Intangibles). EBITA corresponds to operating profit before amortization and\nimpairment of purchase accounting intangible assets and before goodwill impairment.\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_revenue_growth",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 28905m, prior year: 25159m",
      "golden_context": "Page 2:\n\n1. Consolidated statement of income\n(in millions of euros except for earnings per share) Note Full Year 2021 Full Year 2020\nRevenue 3 28,905 25,159\nCost of sales (17,062) (15,003)\nGross profit 11,843 10,156\nResearch and development 4 (855) (718)\nSelling, general and administrative expenses (6,001) (5,512)\nAdjusted EBITA * 3 4,987 3,926\nOther operating income and expenses 6 (21) (210)\nRestructuring costs (225) (421)\nEBITA ** 4,741 3,295\nAmortization and impairment of purchase accounting intangibles 5 (410) (207)\nOperating income 4,331 3,088\nInterest income 4 Interest expense (99) (126)\nFinance costs, net (95) (112)\nOther financial income and expense 7 (81) (166)\nNet financial income/(loss) (176) (278)\nProfit from continuing operations before income tax 4,155 2,810\nIncome tax expense 8 (966) (638)\nShare of profit/(loss) of associates 12 84 PROFIT FOR THE YEAR 3,273 2,238\nattributable to owners of the parent 3,204 2,126\nattributable to non-controlling interests 69 Basic earnings (attributable to owners of the parent) per share (in euros per share) 19 5.76 3.84\nDiluted earnings (attributable to owners of the parent) per share (in euros per share) 19 5.67 3.81\n* Adjusted EBITA (Earnings Before Interest, Taxes, Amortization of Purchase Accounting Intangibles). Adjusted EBITA corresponds to operating profit before\n14\n66\n112\namortization and impairment of purchase accounting intangible assets, before goodwill impairment, other operating income and expenses and restructuring\ncosts.\n** EBITA (Earnings Before Interest, Taxes and Amortization of Purchase Accounting Intangibles). EBITA corresponds to operating profit before amortization and\nimpairment of purchase accounting intangible assets and before goodwill impairment.\nThe accompanying notes are an integral part of the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000510_segments",
      "report_id": "ID_000510",
      "company_name": "Schneider Electric",
      "year": 2021,
      "country": "FR",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Energy Management, Industrial Automation, optional: Central functions  & digital costs",
      "golden_context": "Page 22:\n\nNOTE 3 Segment information\nThe Group is organized into two reporting segments as follows:\nEnergy Management leverages a complete end-to-end technology offering enabled by EcoStruxure and gathers three operating segments:\nLow Voltage, Medium Voltage and Secure Power that all share the same objective of managing efficiently and reliably the energy and\nhave similar economic characteristics. The Group’s go-to-market is oriented to address customer needs across its four end-markets of\nBuildings, Data Centers, Industry and Infrastructure, supported by a worldwide partner network.\nIndustrial Automation includes Industrial Automation and Industrial Control activities, across discrete, process & hybrid industries.\nExpenses concerning General Management that cannot be allocated to a particular segment are presented under “Central functions &\ndigital costs”.\nOperating and reporting segment data is identical to that presented to the board of directors, which has been identified as the main\ndecision-making body for allocating resources and evaluating segment performance. Performance and decisions on the allocation of\nresources are assessed by the board of directors and are mainly based on Adjusted EBITA.\nShare-based payment is presented under “Central functions & digital costs”.\nThe board of directors does not review assets and liabilities by business.\nThe same accounting principles governing the consolidated financial statements apply to segment data.\nDetails are provided in the Management Report.\n3.1- Information by reporting segment\nFull Year 2021\nOn December 31, 2021, the total backlog to be executed in more than a year amounted to EUR 640 million.\n(in millions of euros) Energy\nManagement\nIndustrial\nAutomation\nCentral functions\n& digital costs Total\nBacklog 9,088 2,688 - 11,776\nRevenue 22,179 6,726 - 28,905\nAdjusted EBITA 4,501 1,242 (756) 4,987\nAdjusted EBITA (%) 20.3% 18.5% 17.3%\n(in millions of euros) Energy\nManagement\nIndustrial\nAutomation\nCentral functions\n& digital costs Total\nBacklog 7,231 1,765 - 8,996\nRevenue 19,344 5,815 - 25,159\nAdjusted EBITA 3,634 992 (700) 3,926\nFull Year 2020\nAdjusted EBITA (%) 18.8% 17.1% On December 31, 2020, the total backlog to be executed in more than a year amounted to EUR 639 million.\n3.2- Information by region\nThe geographic regions covered by the Group are:\n• Western Europe;\n• North America (including Mexico);\n• Asia-Pacific;\n• Asia-Pacific;\n• Rest of the World (Eastern Europe, Middle Eas",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_cash_flow",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 294161k, investing: -31,919k, financing: -17,498k",
      "golden_context": "Page 52:\n\nCONSOLIDATED CASH FLOW STATEMENT\n0\nIN THOUSAND EUR\nNOTES 2022 2021\nCASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 3.4 140,742 232,354\nDividend income 37,702 38,699\nInterest income 9,508 5,493\nInterest expenses -7,188 -3,517\nAcquisitions of current financial assets (deposits of more than 3 months) 0 -100,000\nDisposals of current financial assets (deposits of more than 3 months) 225,000 Acquisitions of current financial assets (treasury investment portfolio) -325,000 -498,233\nDisposals of current financial assets (treasury investment portfolio) 406,222 50,139\nAcquisitions of other current financial assets -1,169 Disposals of other current financial assets 0 10,659\nOther current receipts 4,144 1,512\nAdministrative expenses and miscellaneous -55,058 -45,918\nNet taxes 0 485\nCash flow from operating activities 294,161 -540,681\nAcquisitions of (in)tangible assets -129 -489\nDisposals of (in)tangible assets 0 Disposals of consolidated companies 0 1,860\nInvestments in portfolio 3.1 -46,834 -131,996\nDivestments from portfolio 3.1 & 3.11 15,044 211,845\nMovements in other non-current assets 0 Cash flow from investing activities -31,919 81,220\nAcquisitions of treasury shares -76,069 -56,486\nDisposals of treasury shares 3,109 13,320\nDistribution of profit 3.5 -104,885 -101,550\nMovements in receivables from subsidiaries -14,828 -20,382\nMovements in payables to subsidiaries 175,175 -161,565\nReceipts from financial liabilities 0 694,512\nRepayments of financial liabilities 0 Cash flow from financing activities -17,498 367,849\nCASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 3.4 385,486 140,742\nNotes to the\nconsolidated financial\nstatements\n0\n15,044 -31,919 0\n0\n0\nFor Sofina, the primary revenue generator is the evolution of\nthe NAV (a non-monetary item that appears in the income\nstatement but not in the consolidated cash flow statement).\nIn this context, cash flows related to portfolio investments\nand divestments, which are not revenue generators, are\nconsidered to be part of investing activities and not of oper-\nating activities.\nIt should be remembered that the management cash flow\nstatement (in transparency) is available in point 2.1 of the\nNotes to the consolidated financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_company_type",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "SA",
      "golden_context": "Page 6:\n\nKey Indicators\nSofina SA adopted the Investment Entity status in application of IFRS 10, §27,\nwhich provides that a company, as long as it meets the definition of an Investment\nEntity, does not consolidate its subsidiaries 1. In the present Annual report, the\nfinancial statements as an Investment Entity give the fair value of Sofina SA’s\ndirect investments (in portfolio investments or in investment subsidiaries). The\nNet Asset Value (“NAV”) report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_key_financials",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Net result (share of the group): -1872m, sales and services: 16m, profit before taxes: -281m, profit: -281",
      "golden_context": "Page 73:\n\nINCOME STATEMENT\nAPPROPRIATION ACCOUNT\nSales and services Turnover Other operating income Non-recurring operating income Cost of sales and services Services and other goods Remuneration, social security and pensions Provisions for liabilities and charges Other operating charges Operating profit (+) / loss (-) Financial income Recurring financial income Income from financial assets Income from current assets Other financial income Non-recurring financial income Financial charges Recurring financial charges Debt charges Other financial charges Non-recurring financial charges Profit (+) / Loss (-) of the year before taxes Taxes Profit (+) / Loss (-) of the year Transfers from (+) / Transfers to (-) untaxed reserves Profit (+) / Loss (-) of the year available for appropriation 48 9 21 8 75 2022 16 6 10 0 42 14 24 -2 6 -26 101 78 23 356 83 273 -281 0 -281 24 -257 36\n5\n13\n6\n5\nIN MILLION EUR\n2021\n11\n3\n6\n2\n54\n14\n36\n-1\n5\n-42\n185\n54\n131\n44\n11\n33\n99\n1\n100\n18\n11\n\nPage 6:\n\nKey financial figures\nFINANCIAL STATEMENTS – OVERVIEW OF THE YEAR 2\n31/12/2022 31/12/2021\n2022 2021\nTotal assets (in million EUR) 10,198 12,085\nNet result (share of the group)\n(in million EUR) -1,872 2,593\nNet Asset Value (in million EUR) 9,313 11,354\nNet Asset Value per share\n(in EUR) 3 Net result (share of the group)\nper share (in EUR) 4 -55.85 76.99\n279.41 337.86\nThe Annual General Meeting of 5 May 2022 decided to pay a gross dividend of EUR 3.128571 per share.\nFINANCIAL FIGURES IN TRANSPARENCY 5 (IN MILLION EUR)\nKEY FIGURES IN TRANSPARENCY 31/12/2022 31/12/2021\nNet debt / (Net cash) -233 -319\nInvestment portfolio 9,062 11,063\nLoan-to-value (in %) -2.6% -2.9%\nKEY COMPREHENSIVE INCOME FIGURES IN TRANSPARENCY 2022 2021\nDividends 53 59\nNet result of the investment portfolio -1,828 2,621\nTotal comprehensive income 6 -1,869 2,596\nKEY CASH FLOW STATEMENT FIGURES IN TRANSPARENCY 2022 2021\nInvestments in portfolio -1,013 -1,284\nDivestments from portfolio 1,174 1,161\nBALANCE SHEET IN TRANSPARENCY 31/12/2022 31/12/2021\nInvestment portfolio 9,062 11,063\nSofina Direct 4,760 5,811\nLong-term minority investments 2,797 3,884\nSofina Growth 1,962 1,927\nSofina Private Funds 4,302 5,252\nNet cash 233 319\nGross cash 929 1,049\nFinancial liabilities -696 -730\nOther 18 -28\nNAV 9,313 11,354\n1. For a definition of the different terms, see the Glossary.\n2. 3. 4. 5. 6. The consolidated financial statements are presented under the Investment Entity status, in application of which direct subsidiaries of Sofina SA are\nstated at fair value, including the fair value of their equity investments and other assets and liabilitie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_revenue",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Sales and services: 16m",
      "golden_context": "Page 73:\n\nINCOME STATEMENT\nAPPROPRIATION ACCOUNT\nSales and services Turnover Other operating income Non-recurring operating income Cost of sales and services Services and other goods Remuneration, social security and pensions Provisions for liabilities and charges Other operating charges Operating profit (+) / loss (-) Financial income Recurring financial income Income from financial assets Income from current assets Other financial income Non-recurring financial income Financial charges Recurring financial charges Debt charges Other financial charges Non-recurring financial charges Profit (+) / Loss (-) of the year before taxes Taxes Profit (+) / Loss (-) of the year Transfers from (+) / Transfers to (-) untaxed reserves Profit (+) / Loss (-) of the year available for appropriation 48 9 21 8 75 2022 16 6 10 0 42 14 24 -2 6 -26 101 78 23 356 83 273 -281 0 -281 24 -257 36\n5\n13\n6\n5\nIN MILLION EUR\n2021\n11\n3\n6\n2\n54\n14\n36\n-1\n5\n-42\n185\n54\n131\n44\n11\n33\n99\n1\n100\n18\n11\n\nPage 6:\n\nKey financial figures\nFINANCIAL STATEMENTS – OVERVIEW OF THE YEAR 2\n31/12/2022 31/12/2021\n2022 2021\nTotal assets (in million EUR) 10,198 12,085\nNet result (share of the group)\n(in million EUR) -1,872 2,593\nNet Asset Value (in million EUR) 9,313 11,354\nNet Asset Value per share\n(in EUR) 3 Net result (share of the group)\nper share (in EUR) 4 -55.85 76.99\n279.41 337.86\nThe Annual General Meeting of 5 May 2022 decided to pay a gross dividend of EUR 3.128571 per share.\nFINANCIAL FIGURES IN TRANSPARENCY 5 (IN MILLION EUR)\nKEY FIGURES IN TRANSPARENCY 31/12/2022 31/12/2021\nNet debt / (Net cash) -233 -319\nInvestment portfolio 9,062 11,063\nLoan-to-value (in %) -2.6% -2.9%\nKEY COMPREHENSIVE INCOME FIGURES IN TRANSPARENCY 2022 2021\nDividends 53 59\nNet result of the investment portfolio -1,828 2,621\nTotal comprehensive income 6 -1,869 2,596\nKEY CASH FLOW STATEMENT FIGURES IN TRANSPARENCY 2022 2021\nInvestments in portfolio -1,013 -1,284\nDivestments from portfolio 1,174 1,161\nBALANCE SHEET IN TRANSPARENCY 31/12/2022 31/12/2021\nInvestment portfolio 9,062 11,063\nSofina Direct 4,760 5,811\nLong-term minority investments 2,797 3,884\nSofina Growth 1,962 1,927\nSofina Private Funds 4,302 5,252\nNet cash 233 319\nGross cash 929 1,049\nFinancial liabilities -696 -730\nOther 18 -28\nNAV 9,313 11,354\n1. For a definition of the different terms, see the Glossary.\n2. 3. 4. 5. 6. The consolidated financial statements are presented under the Investment Entity status, in application of which direct subsidiaries of Sofina SA are\nstated at fair value, including the fair value of their equity investments and other assets and liabilitie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_revenue_growth",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and services: 16m, prior year: 11",
      "golden_context": "Page 73:\n\nINCOME STATEMENT\nAPPROPRIATION ACCOUNT\nSales and services Turnover Other operating income Non-recurring operating income Cost of sales and services Services and other goods Remuneration, social security and pensions Provisions for liabilities and charges Other operating charges Operating profit (+) / loss (-) Financial income Recurring financial income Income from financial assets Income from current assets Other financial income Non-recurring financial income Financial charges Recurring financial charges Debt charges Other financial charges Non-recurring financial charges Profit (+) / Loss (-) of the year before taxes Taxes Profit (+) / Loss (-) of the year Transfers from (+) / Transfers to (-) untaxed reserves Profit (+) / Loss (-) of the year available for appropriation 48 9 21 8 75 2022 16 6 10 0 42 14 24 -2 6 -26 101 78 23 356 83 273 -281 0 -281 24 -257 36\n5\n13\n6\n5\nIN MILLION EUR\n2021\n11\n3\n6\n2\n54\n14\n36\n-1\n5\n-42\n185\n54\n131\n44\n11\n33\n99\n1\n100\n18\n11\n\nPage 6:\n\nKey financial figures\nFINANCIAL STATEMENTS – OVERVIEW OF THE YEAR 2\n31/12/2022 31/12/2021\n2022 2021\nTotal assets (in million EUR) 10,198 12,085\nNet result (share of the group)\n(in million EUR) -1,872 2,593\nNet Asset Value (in million EUR) 9,313 11,354\nNet Asset Value per share\n(in EUR) 3 Net result (share of the group)\nper share (in EUR) 4 -55.85 76.99\n279.41 337.86\nThe Annual General Meeting of 5 May 2022 decided to pay a gross dividend of EUR 3.128571 per share.\nFINANCIAL FIGURES IN TRANSPARENCY 5 (IN MILLION EUR)\nKEY FIGURES IN TRANSPARENCY 31/12/2022 31/12/2021\nNet debt / (Net cash) -233 -319\nInvestment portfolio 9,062 11,063\nLoan-to-value (in %) -2.6% -2.9%\nKEY COMPREHENSIVE INCOME FIGURES IN TRANSPARENCY 2022 2021\nDividends 53 59\nNet result of the investment portfolio -1,828 2,621\nTotal comprehensive income 6 -1,869 2,596\nKEY CASH FLOW STATEMENT FIGURES IN TRANSPARENCY 2022 2021\nInvestments in portfolio -1,013 -1,284\nDivestments from portfolio 1,174 1,161\nBALANCE SHEET IN TRANSPARENCY 31/12/2022 31/12/2021\nInvestment portfolio 9,062 11,063\nSofina Direct 4,760 5,811\nLong-term minority investments 2,797 3,884\nSofina Growth 1,962 1,927\nSofina Private Funds 4,302 5,252\nNet cash 233 319\nGross cash 929 1,049\nFinancial liabilities -696 -730\nOther 18 -28\nNAV 9,313 11,354\n1. For a definition of the different terms, see the Glossary.\n2. 3. 4. 5. 6. The consolidated financial statements are presented under the Investment Entity status, in application of which direct subsidiaries of Sofina SA are\nstated at fair value, including the fair value of their equity investments and other assets and liabilitie",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000514_segments",
      "report_id": "ID_000514",
      "company_name": "Sofina",
      "year": 2022,
      "country": "BE",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Sofina Direct, Sofina Private Funds",
      "golden_context": "Page 53:\n\nhe management cash flow statement below provides cash\nflow information in transparency for all group subsidiaries.\n-104,885 -104,885\n-101.301 -995 -102,296\n-35,000 35,000 0\nSITUATION AS AT 31 DECEMBER 2022\nCOMPREHENSIVE INCOME (2022)\nSOFINA\nDIRECT\nSOFINA\nPRIVATE\nFUNDS\nDividends 46,549 6,149 Long-term minority investments 46,427\nSofina Growth 122\nNet result of the investment portfolio -1,214,478 -613,388 Long-term minority investments -835,315\nSofina Growth -379,163\nManagement expenses Other 4 Total comprehensive income TOTAL 52,698 IN THOUSAND EUR\nRECONCILING\nITEMS\nFINANCIAL\nSTATEMENTS\n-4,560 48,138\n-1,827,866 -50,185 -1,878,051\nIN THOUSAND EUR\n(2022)\nMANAGEMENT CASH FLOW STATEMENT\nSOFINA\nDIRECT\nSOFINA\nPRIVATE\nFUNDS\nTOTAL\nGROSS CASH\nFINANCIAL\nLIABILITIES\nTOTAL\nNET CASH\nNet cash at the beginning of the year 1,048,594 -729,512 319,082\nDividends 5 46,630 6,148 52,778 52,778\nManagement expenses 6 -92,210 -92,210\nInvestments in portfolio -570,705 -442,685 -1,013,390 -1,013,390\nDivestments from portfolio 399,408 774,564 1,173,972 1,173,972\nDistribution of profit -104,885 -104,885\nOther items -101.301 -995 -102,296\nRepayment of financial liabilities -35,000 35,000 0\nNet cash at the end of the year 928,558 -695,507 233,051\nIN THOUSAND EUR\nINVESTMENT\nPORTFOLIO\nBRIDGE\n(2022)\nFAIR VALUE\nAS AT\n31/12/2021\nINVESTMENTS 7 DIVESTMENTS\nAND\nREVENUES 7\nMARKET\nIMPACT\nFX\nIMPACT\nFAIR\nVALUE\nAS AT\n31/12/2022\nVALUE\nCREATION\n% Cash Non-\ncash 9 Cash cash 9\nNon-\nSofina Direct 5,810,894 570,705 1,093 -446,038 -9,671 -1,188,487 21,361 4,759,857 -18%\nSofina Private Funds 5,252,521 442,685 2,512 -780,713 -7,362 -889,333 282,094 4,302,404 -11%\nTotal investment\n8\n-73,433 -20,468 -1,869,069 TOTAL 9,062,261 28,167 -45,266\n26,578 6,110\n0 -1,869,069\nIN THOUSAND EUR\nRECONCILING\nITEMS\nFINANCIAL\nSTATEMENTS\n-522,278 8,539,983\nportfolio 11,063,415 1,013,390 3,605 -1,226,751 -17,033 -2.077.820 303,455 9,062,261 -15%\nSITUATION AS AT 31 DECEMBER 2021\nBALANCE SHEET (31/12/2022)\nSOFINA\nDIRECT\nSOFINA\nPRIVATE\nFUNDS\nInvestment portfolio 4,759,857 4,302,404 Long-term minority investments 2,797,444\nSofina Growth 1,962,413\nNet cash Gross cash Financial liabilities (In)tangible fixed assets Other assets and liabilities 4 NAV 233,051 928,558 -695,507 9,773 8,244 9,313,329 -109,636 123,415\n-109,636 818,922\n0 -695,507\n-662 9,111\n632,576 640,820\n0 9,313,329\nCOMPREHENSIVE INCOME (2021)\nSOFINA\nDIRECT\nSOFINA\nPRIVATE\nFUNDS\nTOTAL IN THOUSAND EUR\nRECONCILING\nITEMS\nFINANCIAL\nSTATEMENTS\nDividends 52,289 6,921 59,210 -23,166 36,044\nLong-term minority investments 52,289\nSofina Growth 0\nNet result of the investment portfolio 647,579 1,973,383 2,620,962 -21,605 2,599,357\nLong-term minority investments 153,202\nSofina Growth 494,377\nManagement expenses -83,017 24,092 -58,925\nOther -1,638 20,679 19,041\nTotal comprehensive income ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_cash_flow",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "cash_flow",
      "golden_answer": "Operational cash flow: 1854m",
      "golden_context": "Page 88:\n\nolate Stores and Agribusiness in Portugal, and Health and Beauty Retail in Poland); ii. the Holding\nCompanies; and iii. Group’s consolidation adjustments.\nDetailed information by operating segments as at December 2022 and 2021\nPortugal Retail Portugal Cash &\nCarry Poland Retail Colombia Retail\nOthers,\neliminations and\nadjustments\nTotal JM\nConsolidated\n2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nNet sales and services 5,038 4,462 1,158 907 17,582 14,542 1,768 1,102 (161) (124) 25,385 20,889\nInter-segments 539 416 7 5 ‐ ‐ ‐ ‐ (545) (421) ‐ External customers 4,499 4,046 1,151 902 17,582 14,542 1,768 1,102 384 297 25,385 20,889\nOperational cash flow\n(EBITDA) 265 244 59 43 1,540 1,339 60 26 (69) (67) 1,854 1,585\nDepreciations and\namortisations (160) (152) (21) (19) (492) (476) (61) (51) (48) (47) (782) (745)\nEarnings before interest and\ntaxes (EBIT) 104 93 38 23 1,048 863 (1) (26) (117) (113) 1,071 840\nOther operating profits/losses (95) (34)\nFinancial results and gains in\ninvestments (162) (154)\nIncome tax (207) (168)\nNon-controlling interests (17) (21)\nNet result attributable to JM 590 463\nTotal assets 2,486 2,243 510 457 7,060 6,137 1,047 856 743 676 11,845 10,368\nTotal liabilities 1,969 1,726 491 448 5,800 4,965 1,026 830 (26) (132) 9,260 7,836\nInvestments in tangible and\nintangible assets 198 102 48 21 465 428 156 81 39 32 905 664\n(1) The comparative report is\n31 December of 2021\nReconciliation between EBIT and operating profit\n2022 2021\nEBIT 1,071 Other operating profits/losses (95) (34)\n‐\n840\nOperational result 976 806\nConsolidated Financial Statements 88",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_company_type",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "company_type",
      "golden_answer": "S.A.",
      "golden_context": "Page 2:\n\nEuropean Single Electronic reporting Format (ESEF) and PDF version\nThis document is the PDF/printed version of the Annual Report 2022 of Jerónimo Martins, SGPS, S.A..\nThis version has been prepared for ease of use and is not presented in the format foreseen as\nspecified in the Regulatory Technical Standards on ESEF (Delegated Regulation (EU) 2019/815). The\nofficial ESEF reporting package is available on our website at www.jeronimomartins.com. In case of\ndiscrepancies between this version and the official ESEF p",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_key_financials",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "key_financials",
      "golden_answer": "Net sales and services: 25385m, EBITDA: 1854m, net result attributable to JM: 590m",
      "golden_context": "Page 88:\n\nolate Stores and Agribusiness in Portugal, and Health and Beauty Retail in Poland); ii. the Holding\nCompanies; and iii. Group’s consolidation adjustments.\nDetailed information by operating segments as at December 2022 and 2021\nPortugal Retail Portugal Cash &\nCarry Poland Retail Colombia Retail\nOthers,\neliminations and\nadjustments\nTotal JM\nConsolidated\n2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nNet sales and services 5,038 4,462 1,158 907 17,582 14,542 1,768 1,102 (161) (124) 25,385 20,889\nInter-segments 539 416 7 5 ‐ ‐ ‐ ‐ (545) (421) ‐ External customers 4,499 4,046 1,151 902 17,582 14,542 1,768 1,102 384 297 25,385 20,889\nOperational cash flow\n(EBITDA) 265 244 59 43 1,540 1,339 60 26 (69) (67) 1,854 1,585\nDepreciations and\namortisations (160) (152) (21) (19) (492) (476) (61) (51) (48) (47) (782) (745)\nEarnings before interest and\ntaxes (EBIT) 104 93 38 23 1,048 863 (1) (26) (117) (113) 1,071 840\nOther operating profits/losses (95) (34)\nFinancial results and gains in\ninvestments (162) (154)\nIncome tax (207) (168)\nNon-controlling interests (17) (21)\nNet result attributable to JM 590 463\nTotal assets 2,486 2,243 510 457 7,060 6,137 1,047 856 743 676 11,845 10,368\nTotal liabilities 1,969 1,726 491 448 5,800 4,965 1,026 830 (26) (132) 9,260 7,836\nInvestments in tangible and\nintangible assets 198 102 48 21 465 428 156 81 39 32 905 664\n(1) The comparative report is\n31 December of 2021\nReconciliation between EBIT and operating profit\n2022 2021\nEBIT 1,071 Other operating profits/losses (95) (34)\n‐\n840\nOperational result 976 806\nConsolidated Financial Statements 88",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_revenue",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "revenue",
      "golden_answer": "Net sales and services: 25385m",
      "golden_context": "Page 88:\n\nolate Stores and Agribusiness in Portugal, and Health and Beauty Retail in Poland); ii. the Holding\nCompanies; and iii. Group’s consolidation adjustments.\nDetailed information by operating segments as at December 2022 and 2021\nPortugal Retail Portugal Cash &\nCarry Poland Retail Colombia Retail\nOthers,\neliminations and\nadjustments\nTotal JM\nConsolidated\n2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nNet sales and services 5,038 4,462 1,158 907 17,582 14,542 1,768 1,102 (161) (124) 25,385 20,889\nInter-segments 539 416 7 5 ‐ ‐ ‐ ‐ (545) (421) ‐ External customers 4,499 4,046 1,151 902 17,582 14,542 1,768 1,102 384 297 25,385 20,889\nOperational cash flow\n(EBITDA) 265 244 59 43 1,540 1,339 60 26 (69) (67) 1,854 1,585\nDepreciations and\namortisations (160) (152) (21) (19) (492) (476) (61) (51) (48) (47) (782) (745)\nEarnings before interest and\ntaxes (EBIT) 104 93 38 23 1,048 863 (1) (26) (117) (113) 1,071 840\nOther operating profits/losses (95) (34)\nFinancial results and gains in\ninvestments (162) (154)\nIncome tax (207) (168)\nNon-controlling interests (17) (21)\nNet result attributable to JM 590 463\nTotal assets 2,486 2,243 510 457 7,060 6,137 1,047 856 743 676 11,845 10,368\nTotal liabilities 1,969 1,726 491 448 5,800 4,965 1,026 830 (26) (132) 9,260 7,836\nInvestments in tangible and\nintangible assets 198 102 48 21 465 428 156 81 39 32 905 664\n(1) The comparative report is\n31 December of 2021\nReconciliation between EBIT and operating profit\n2022 2021\nEBIT 1,071 Other operating profits/losses (95) (34)\n‐\n840\nOperational result 976 806\nConsolidated Financial Statements 88",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_revenue_growth",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "revenue_growth",
      "golden_answer": "Net sales and services: 25385m, prior year: 20889m",
      "golden_context": "Page 88:\n\nolate Stores and Agribusiness in Portugal, and Health and Beauty Retail in Poland); ii. the Holding\nCompanies; and iii. Group’s consolidation adjustments.\nDetailed information by operating segments as at December 2022 and 2021\nPortugal Retail Portugal Cash &\nCarry Poland Retail Colombia Retail\nOthers,\neliminations and\nadjustments\nTotal JM\nConsolidated\n2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nNet sales and services 5,038 4,462 1,158 907 17,582 14,542 1,768 1,102 (161) (124) 25,385 20,889\nInter-segments 539 416 7 5 ‐ ‐ ‐ ‐ (545) (421) ‐ External customers 4,499 4,046 1,151 902 17,582 14,542 1,768 1,102 384 297 25,385 20,889\nOperational cash flow\n(EBITDA) 265 244 59 43 1,540 1,339 60 26 (69) (67) 1,854 1,585\nDepreciations and\namortisations (160) (152) (21) (19) (492) (476) (61) (51) (48) (47) (782) (745)\nEarnings before interest and\ntaxes (EBIT) 104 93 38 23 1,048 863 (1) (26) (117) (113) 1,071 840\nOther operating profits/losses (95) (34)\nFinancial results and gains in\ninvestments (162) (154)\nIncome tax (207) (168)\nNon-controlling interests (17) (21)\nNet result attributable to JM 590 463\nTotal assets 2,486 2,243 510 457 7,060 6,137 1,047 856 743 676 11,845 10,368\nTotal liabilities 1,969 1,726 491 448 5,800 4,965 1,026 830 (26) (132) 9,260 7,836\nInvestments in tangible and\nintangible assets 198 102 48 21 465 428 156 81 39 32 905 664\n(1) The comparative report is\n31 December of 2021\nReconciliation between EBIT and operating profit\n2022 2021\nEBIT 1,071 Other operating profits/losses (95) (34)\n‐\n840\nOperational result 976 806\nConsolidated Financial Statements 88",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000525_segments",
      "report_id": "ID_000525",
      "company_name": "Jeronimo Martins",
      "year": 2022,
      "country": "PT",
      "industry": "Consumer Staples",
      "question_type": "segments",
      "golden_answer": "Portugal Retail, Portugal Cash & Carry, Poland Retail, Colombia Retail, Others",
      "golden_context": "Page 88:\n\n3.2. Segments reporting\n✓ Accounting policies\nOperating segments are reported consistently with the internal reporting that is provided to the Governing Bodies,\nincluding the Managing Committee and the Board of Directors. Based on this report, the Governing Bodies evaluate the\nperformance of each segment and allocate the available resources.\nManagement monitors the performance of the business based on a geographical and business perspective. In\naccordance with this, the segments are defined as Portugal Retail, Portugal Cash & Carry, Poland Retail and Colombia\nRetail. Apart from these there are also other businesses but due to their low materiality they are not reported\nseparately.\nManagement evaluates the performance of segments based on Earnings Before Interest and Taxes (EBIT). This\nindicator excludes the effects of other operating profits/losses (see note 4.1).\nTransactions between segments are performed under normal market conditions, as described in note 24.1, following\nthe same accounting policies adopted by the Group when dealing with transactions with unrelated parties.\nThe identified operating segments are:\n▪ Portugal Retail: comprises the business unit of JMR (Pingo Doce supermarkets);\n▪ Portugal Cash & Carry: includes the wholesale business unit Recheio;\n▪ Poland Retail: the business unit which operates under Biedronka banner;\n▪ Colombia Retail: the business unit which operates under Ara banner;\n▪ Others, eliminations and adjustments: includes i. business units with reduced materiality (Coffee Shops,\nChocolate Stores and Agribusiness in Portugal, and Health and Beauty Retail in Poland); ii. the Holding\nCompanies; and iii. Group’s consolidation adjustments.\nDetailed information by operating segments as at December 2022 and 2021\nPortugal Retail Portugal Cash &\nCarry Poland Retail Colombia Retail\nOthers,\neliminations and\nadjustments\nTotal JM\nConsolidated\n2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021\nNet sales and services 5,038 4,462 1,158 907 17,582 14,542 1,768 1,102 (161) (124) 25,385 20,889\nInter-segments 539 416 7 5 ‐ ‐ ‐ ‐ (545) (421) ‐ External customers 4,499 4,046 1,151 902 17,582 14,542 1,768 1,102 384 297 25,385 20,889\nOperational cash flow\n(EBITDA) 265 244 59 43 1,540 1,339 60 26 (69) (67) 1,854 1,585\nDepreciations and\namortisations (160) (152) (21) (19) (492) (476) (61) (51) (48) (47) (782) (745)\nEarnings before interest and\ntaxes (EBIT) 104 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_cash_flow",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "cash_flow",
      "golden_answer": "2.2bn cash flow from operations",
      "golden_context": "Page 3:\n\n$6.62 $3.04 $19.6\nEarnings per ordinary share\nexcluding adjustments\n(Dollars per share)1\nDividends per ordinary share\n(Dollars per share)\nNet sales\n(Billions of dollars)\n$2.2\nCash flow from operations\n(Billions of dollars)\n10%\nOrganic growth\nNet income per share attributable to Eaton ordinary shareholders – diluted Adjustments1\nAcquisition and divestiture charges Restructuring program charges Intangible asset amortization expense Expected Vehicle segment warranty costs\nEarnings per ordinary share excluding adjustments1\n2021 2020 2019\n$5.34 $3.49 $5.25\n0.23 0.33 0.42\n0.15 0.42\n–\n0.90 0.67 0.67\n–\n–\n0.09\n$6.62 $4.91 $6.43\nCompany stock performance\n$250\nEaton S&P 500 Index\n$200\n$150\n$100\n$50\n$0\n2017 2018 2019 2020 2021\nThis graph compares the cumulative total return to shareholders for Eaton and the S&P 500 Index. The shareholder returns reflected on the graph assume dividends were reinvested\nas of the ex-dividend date. Source: Bloomberg\n1. Net income per share attributable to Eaton ordinary shareholders-diluted of $5.34 for 2021 was $6.62 excluding $0.23 per share expense from acquisition and divestiture charges, $0.15 per share expense from\na multi-year restructuring program Eaton decided to undertake in 2020, and $0.90 per share expense from intangible asset amortization. Net income per share attributable to Eaton ordinary shareholders-diluted of\n$3.49 for 2020 was $4.91 excluding $0.33 per share expense from acquisition and divestiture charges, $0.42 per share expense from a multi-year restructuring program, and $0.67 per share expense from intangible\nasset amortization. Net income per share attributable to Eaton ordinary shareholders-diluted of $5.25 for 2019 was $6.43 excluding $0.42 per share expense from acquisition and divestiture charges, $0.67 per share\nexpense from intangible asset amortization, and $0.09 per share expense from expected warranty costs in the Vehicle segment to correct the performance of a product that incorporated a defective part from a supp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_company_type",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "company_type",
      "golden_answer": "plc",
      "golden_context": "Page 9:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\nFORM 10-K\nAnnual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\nFor the year ended December 31, 2021\nCommission file number 000-54863\nEATON CORPORATION plc\n(Exact name of registrant as specified in its charter)\nIreland 98-1059235\n(State or other jurisdiction of incorporation or organization) Eaton House, 30 Pembroke Road, Dublin 4, Ireland (IRS Employer Identification Number)\nD04 Y0C2\n(Address of principal executive offices) (Zip Code)\n+353 1637 2900\nTitle of each class (Registrant's telephone number, including area code)\nSecurities registered pursuant to Section 12(b) of the Act:\nTrading Symbol Name of each exchange on which registered\nOrdinary shares ($0.01 par value) ETN New York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.\nYes ☑ No ☐\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\nYes ☐ No ☑\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the\nSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to\nfile such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period\nthat the registrant was required to submit such files). Yes ☑ No ☐\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,\"\n“smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_key_financials",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "key_financials",
      "golden_answer": "6.62 earnings per ordinary share excl. adjustments. 19.6bn net sales, 2.2bn cash flow from operations",
      "golden_context": "Page 3:\n\n$6.62 $3.04 $19.6\nEarnings per ordinary share\nexcluding adjustments\n(Dollars per share)1\nDividends per ordinary share\n(Dollars per share)\nNet sales\n(Billions of dollars)\n$2.2\nCash flow from operations\n(Billions of dollars)\n10%\nOrganic growth\nNet income per share attributable to Eaton ordinary shareholders – diluted Adjustments1\nAcquisition and divestiture charges Restructuring program charges Intangible asset amortization expense Expected Vehicle segment warranty costs\nEarnings per ordinary share excluding adjustments1\n2021 2020 2019\n$5.34 $3.49 $5.25\n0.23 0.33 0.42\n0.15 0.42\n–\n0.90 0.67 0.67\n–\n–\n0.09\n$6.62 $4.91 $6.43\nCompany stock performance\n$250\nEaton S&P 500 Index\n$200\n$150\n$100\n$50\n$0\n2017 2018 2019 2020 2021\nThis graph compares the cumulative total return to shareholders for Eaton and the S&P 500 Index. The shareholder returns reflected on the graph assume dividends were reinvested\nas of the ex-dividend date. Source: Bloomberg\n1. Net income per share attributable to Eaton ordinary shareholders-diluted of $5.34 for 2021 was $6.62 excluding $0.23 per share expense from acquisition and divestiture charges, $0.15 per share expense from\na multi-year restructuring program Eaton decided to undertake in 2020, and $0.90 per share expense from intangible asset amortization. Net income per share attributable to Eaton ordinary shareholders-diluted of\n$3.49 for 2020 was $4.91 excluding $0.33 per share expense from acquisition and divestiture charges, $0.42 per share expense from a multi-year restructuring program, and $0.67 per share expense from intangible\nasset amortization. Net income per share attributable to Eaton ordinary shareholders-diluted of $5.25 for 2019 was $6.43 excluding $0.42 per share expense from acquisition and divestiture charges, $0.67 per share\nexpense from intangible asset amortization, and $0.09 per share expense from expected warranty costs in the Vehicle segment to correct the performance of a product that incorporated a defective part from a supp",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_revenue",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "revenue",
      "golden_answer": "Sales were 19.6bn",
      "golden_context": "Page 5:\n\nHydraulics business, adjusted\noperating cash flow was $2.7 billion.\n• We continued to reinvest in growing the\ncompany, deploying $575 million for capital\nexpenditures and $616 million toward\nresearch and development activities.\n• For full year 2021, sales were $19.6 billion,\nreflecting 10% organic growth in a\nchallenging environment.\nAnd we delivered for our shareholders. We\nreturned $1.2 billion to our shareholders\nin the form o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_revenue_growth",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "revenue_growth",
      "golden_answer": "10% organic growth",
      "golden_context": "Page 5:\n\nHydraulics business, adjusted\noperating cash flow was $2.7 billion.\n• We continued to reinvest in growing the\ncompany, deploying $575 million for capital\nexpenditures and $616 million toward\nresearch and development activities.\n• For full year 2021, sales were $19.6 billion,\nreflecting 10% organic growth in a\nchallenging environment.\nAnd we delivered for our shareholders. We\nreturned $1.2 billion to our shareholders\nin the form o",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000528_segments",
      "report_id": "ID_000528",
      "company_name": "Eaton",
      "year": 2021,
      "country": "IE",
      "industry": "Industrials",
      "question_type": "segments",
      "golden_answer": "Electrical Americas and Electrical global, Hydraulic, Aerospace, Vehicle, eMobility",
      "golden_context": "Page 11:\n\nFinancial Statements.\nBusiness Segment Information\nInformation by business segment regarding principal products, principal markets, methods of distribution and net sales is\npresented in Note 17 of the Notes to the Consolidated Financial Statements. Additional information regarding Eaton's segments\nand business is presented below.\nElectrical Americas and Electrical Global\nPrincipal methods of competition in these segments are performance of products and systems, technology, customer service\nand support, and price. Eaton has a strong competitive position in these segments and, with respect to many products, is\nconsidered among the market leaders. In normal economic cycles, sales of these segments are historically lower in the first\nquarter and higher in the third and fourth quarters of a year. In 2021, 22% of these segments' sales were made to seven large\ncustomers of electrical products and electrical systems and services.\nHydraulics\nOn August 2, 2021, Eaton completed the sale of the Hydraulics business to Danfoss A/S, a Danish industrial company. Prior\nto the sale, the Hydraulics business was a reportable operating segment.\nAerospace\nPrincipal methods of competition in this segment are total cost of ownership, product and system performance, quality,\ndesign engineering capabilities, and timely delivery. Eaton has a strong competitive position in this segment and, with respect to\nmany products and platforms, is considered among the market leaders. In 2021, 20% of this segment's sales were made to three\nlarge original equipment manufacturers of aircraft.\nVehicle\nPrincipal methods of competition in this segment are product performance, technology, global service, and price. Eaton has\na strong competitive position in this segment and, with respect to many products, is considered among the market leaders. In\n2021, 36% of this segment's sales were made to four large original equipment manufacturers of vehicles and related\ncomponents.\neMobility\nPrincipal methods of competition in this segment are product performance, technology, global service, and price. Eaton has\na strong competitive position in this segment. In 2021, 18% of this segment's sales were made to three large original equipment\nmanufacturers of vehicles, construction equipment and related components.\n2\nInformation Concerning Eaton's Business in General\nRaw Materials\nEaton's major requirements for raw materials include iron, steel, copper, nickel, aluminum, lead, silver, gold, titanium,\nrubber, plastic, electronic components, chemicals, and fluids. Materials are purchased in various forms, such as bar stock,\nextrusions, castings, forgings, powder metal, coils, sheets, strips, stampings, plastic resins and pellets. Raw materials, as well as\nparts and other components, are purchased from many suppliers. Under normal circumstances, the Company has no difficulty\nobtaining its raw materials. However, as global economies recovered from the COVID-19 pandemic in 2021, some of our\nbusinesses were impacted by inflation and supply chain constraints, including limited availability of select materials and\ndelivery delays. During this time, we worked closely with our suppliers to manage and minimize the impact on our supply\nchain. Additional information related to the impact of supply chain constraints and inflation is presented in “Management's\nDiscussion and Analysis of Financial Condition and Results of Operations” of this Form 10-K.\nPatents and Trademarks\nEaton considers its intellectual property, including without limitation patents, trade names, domain names, trademarks,\nconfidential information, and trade secrets to be of significant value to its business as a whole. The Company's products are\nmanufactured, marketed and sold using a portfolio of patents, trademarks, licenses, and other forms of intellectual property,\nsome of which expire in the future. Eaton develops and acquires new intellectual property on an ongoing basis and considers all\nof its intellectual property to be valuable. Based on the broad scope of the Company's product lines, management believes that\nthe loss or expiration of any single intellectual property right would not have a material effect on Eaton's consolidated financial\nstatements or its business segments. The Company's policy is to file applications and obtain patents for the majority of its novel\nand innovative new products including product modifications and improvements.\nEnvironmental Contingencies\nOur comprehensive sustainability strategy is driven by our mission to improve the quality of life and the environment. We\nare committed to reducing our footprint, eliminating waste, and making the best use of natural resources. Operations of the\nCompany involve the use and disposal of certain substances regulated under environmental protection laws. Eaton continues to\nmodify processes on an ongoing, regular basis in order to reduce the impact on the environment, including the reduction or\nelimination of certain chemicals used in, and wastes generated from, operations. Compliance with laws that have been enacted\nor adopted regulating the discharge of materials into the environment, or otherwise relating to the protection of the\nenvironment, are not expected to have a material adverse effect upon capital expenditures, including expenditures for\nenvironmental control facilities, earnings or the competitive position of the Company. Compliance with future environmental\nprotection laws may require an increase in capital expenditures. Information regarding the Company's liabilities related to\nenvironmental matters is presented in Note 10 of the Notes to the Consolidated Financial Statements.\nHuman Capital Management\nEaton has approximately 86,000 employees globally. The number of persons employed by our reportable segments and\ncorporate at December 31, 2021 a",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_cash_flow",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 61044m, investing: -57348m, financing: -5928m",
      "golden_context": "Page 139:\n\nConsolidated Statements of Cash Flows\nFor the year ended\n(Millions of Canadian dollars)\nOctober 31\n2021\nOctober 31\n2020\nCash flows from operating activities\nNet income $ 16,050 $ 11,437\nAdjustments for non-cash items and others\nProvision for credit losses (753) 4,351\nDepreciation 1,276 1,333\nDeferred income taxes 581 (586)\nAmortization and impairment of other intangibles 1,316 1,315\nNet changes in investments in joint ventures and associates (127) (73)\nLosses (Gains) on investment securities (151) (218)\nLosses (Gains) on disposition of business (26) 8\nAdjustments for net changes in operating assets and liabilities\nInsurance claims and policy benefit liabilities 601 814\nNet change in accrued interest receivable and payable (509) (142)\nCurrent income taxes 1,738 18\nDerivative assets 17,947 (11,928)\nDerivative liabilities (18,488) 11,384\nTrading securities (3,164) 10,377\nLoans, net of securitizations (54,987) (45,639)\nAssets purchased under reverse repurchase agreements and securities borrowed 5,112 (6,054)\nObligations related to assets sold under repurchase agreements and securities loaned (12,030) 47,645\nObligations related to securities sold short 8,556 (5,784)\nDeposits, net of securitizations 88,876 126,826\nBrokers and dealers receivable and payable 35 2,301\nOther 9,191 (8,566)\nNet cash from (used in) operating activities 61,044 138,819\nCash flows from investing activities\nChange in interest-bearing deposits with banks Proceeds from sales and maturities of investment securities Purchases of investment securities Net acquisitions of premises and equipment and other intangibles Proceeds from dispositions 78 –\nCash used in acquisitions (40,618) (676)\n108,925 113,286\n(123,547) (149,516)\n(2,186) (2,629)\n– (22)\nNet cash from (used in) investing activities (57,348) (39,557)\nCash flows from financing activities\nIssuance of subordinated debentures 2,750 2,750\nRepayment of subordinated debentures (2,500) (3,000)\nIssue of common shares, net of issuance costs 90 70\nCommon shares purchased for cancellation – (814)\nIssue of preferred shares and other equity instruments, net of issuance costs 2,245 1,745\nRedemption of preferred shares and other equity instruments (1,475) (1,508)\nSales of treasury shares 4,763 4,778\nPurchases of treasury shares (4,743) (4,853)\nDividends paid on shares and distributions paid on other equity instruments (6,420) (6,333)\nDividends/distributions paid to non-controlling interests (3) (6)\nChange in short-term borrowings of subsidiaries (14) 13\nRepayment of lease liabilities (621) (588)\nNet cash from (used in) financing activities (5,928) (7,746)\nEffect of exchange rate changes on cash and due from banks (2,810) 1,062\nNet change in cash and due from banks Cash and due from banks at beginning of period (1) (5,042) 118,888 92,578\n26,310\nCash and due from banks at end of period (1) $ 113,846 $ 118,888\nCash flows from operating activities include:\nAmount of interest paid Amount of interest received Amount of dividends received Amount of income taxes paid $ 7,555 $ 13,058\n26,412 33,244\n2,575 2,753\n4,198 2,880\n(1) We are required to maintain balances with central banks and other regulatory authorities. The total balances were $2 billion as at October 31, 2021 (October 31, 2020 ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_company_type",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form given. Answer can be marked as correct even if no expclicit answer is given.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_key_financials",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Earnings in bn: 16.1, 18.6% return on common equity",
      "golden_context": "Page 8:\n\nShareholders\n18.6% return on\ncommon equity(1)\n,\nup from 14.2%\nin 2020\n$9.6 billion\nremainder of our\nprofit available\nto reinvest in\nfuture growth\n$4.32 dividends\ndeclared per share\n85(6)\naverage percentile ranking\non priority ESG indices\n13.7%\nrobust common equity\ntier 1 (CET1) ratio,\nup 120 bps from 2020\nFinancial performance metrics\nMedium-Term Objectives(2) 3-Year 5-Year\nDiluted EPS growth of 7%+ 10% 10%\nROE of 16%+ 16.5% 16.8%\nStrong capital ratio (CET1) 12.8% 12.1%\n40%(7)\nof profits returned to\nour shareholders\nthrough dividends\nDividend payout ratio of 40%–50% 47% 46%\nTotal shareholder return(3)\n3-Year 5-Year\nRBC 16% 13%\n$11.06\ndiluted earnings per share\n(EPS), up from $7.82 in 2020\nGlobal peer average 14% 12%\nEarnings\nnet income (C$ billion)\nRevenue by segment(4)\n(C$ billion)\n$16.1\nAnnualized Dividend\nIncrease of:\n$11.4\n6%\nFive year(5)\n8%\nTen year(5)\n$10.2\nCapital\nMarkets\n$2.2\nI&TS\n$5.6\nInsurance\n$18.3\nP&CB\n2020 2021\n$13.3\nWealth\nManagement",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_revenue",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "49693m",
      "golden_context": "Page 16:\n\nSelected financial and other highlights Table 1\n(Millions of Canadian dollars, except per share, number of and percentage amounts) 2021 2020\n2021 vs. 2020\nIncrease (decrease)\nTotal revenue $ 49,693 $ 47,181 $ 2,512 5.3%\nProvision for credit losses (PCL) (753) 4,351 (5,104) (117.3)%\nInsurance policyholder benefits, claims and acquisition expense (PBCAE) 3,891 3,683 208 5.6%\nNon-interest expense 25,924 24,758 1,166 4.7%\nIncome before income taxes 20,631 14,389 6,242 43.4%\nNet income $ 16,050 $ 11,437 $ 4,613 40.3%\nSegments – net income\nPersonal & Commercial Banking $ 7,847 $ 5,087 $ 2,760 54.3%\nWealth Management (1) 2,626 2,154 472 21.9%\nInsurance 889 831 58 7.0%\nInvestor & Treasury Services 440 536 (96) (17.9)%\nCapital Markets 4,187 2,776 1,411 50.8%\nCorporate Support (1) 61 53 8 n.m.\nNet income $ 16,050 $ 11,437 $ 4,613 40.3%\nSelected information\nEarnings per share (EPS) – basic $ 11.08 $ 7.84 $ 3.24 41.3%\n– diluted 11.06 7.82 3.24 41.4%\nReturn on common equity (ROE) (2) 18.6% 14.2% n.m. 440 bps\nAverage common equity (2) $ 84,850 $ 78,800 $ 6,050 7.7%\nNet interest margin (NIM) – on average earning assets, net (3) 1.48% 1.55% n.m. (7) bps\nPCL on loans as a % of average net loans and acceptances (0.10)% 0.63% n.m. (73) bps\nPCL on performing loans as a % of average net loans and acceptances (0.20)% 0.39% n.m. (59) bps\nPCL on impaired loans as a % of average net loans and acceptances 0.10% 0.24% n.m. (14) bps\nGross impaired loans (GIL) as a % of loans and acceptances 0.31% 0.47% n.m. (16) bps\nLiquidity coverage ratio (LCR) (4) 123% 145% n.m. (2200) bps\nNet stable funding ratio (NSFR) (5) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_revenue_growth",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "49693m, prior year: 47181m",
      "golden_context": "Page 16:\n\nSelected financial and other highlights Table 1\n(Millions of Canadian dollars, except per share, number of and percentage amounts) 2021 2020\n2021 vs. 2020\nIncrease (decrease)\nTotal revenue $ 49,693 $ 47,181 $ 2,512 5.3%\nProvision for credit losses (PCL) (753) 4,351 (5,104) (117.3)%\nInsurance policyholder benefits, claims and acquisition expense (PBCAE) 3,891 3,683 208 5.6%\nNon-interest expense 25,924 24,758 1,166 4.7%\nIncome before income taxes 20,631 14,389 6,242 43.4%\nNet income $ 16,050 $ 11,437 $ 4,613 40.3%\nSegments – net income\nPersonal & Commercial Banking $ 7,847 $ 5,087 $ 2,760 54.3%\nWealth Management (1) 2,626 2,154 472 21.9%\nInsurance 889 831 58 7.0%\nInvestor & Treasury Services 440 536 (96) (17.9)%\nCapital Markets 4,187 2,776 1,411 50.8%\nCorporate Support (1) 61 53 8 n.m.\nNet income $ 16,050 $ 11,437 $ 4,613 40.3%\nSelected information\nEarnings per share (EPS) – basic $ 11.08 $ 7.84 $ 3.24 41.3%\n– diluted 11.06 7.82 3.24 41.4%\nReturn on common equity (ROE) (2) 18.6% 14.2% n.m. 440 bps\nAverage common equity (2) $ 84,850 $ 78,800 $ 6,050 7.7%\nNet interest margin (NIM) – on average earning assets, net (3) 1.48% 1.55% n.m. (7) bps\nPCL on loans as a % of average net loans and acceptances (0.10)% 0.63% n.m. (73) bps\nPCL on performing loans as a % of average net loans and acceptances (0.20)% 0.39% n.m. (59) bps\nPCL on impaired loans as a % of average net loans and acceptances 0.10% 0.24% n.m. (14) bps\nGross impaired loans (GIL) as a % of loans and acceptances 0.31% 0.47% n.m. (16) bps\nLiquidity coverage ratio (LCR) (4) 123% 145% n.m. (2200) bps\nNet stable funding ratio (NSFR) (5) ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000540_segments",
      "report_id": "ID_000540",
      "company_name": "Royal Bank of Canada",
      "year": 2021,
      "country": "CA",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Capital Markets, P&CB, I&TS, Insurance, Wealth Management",
      "golden_context": "Page 8:\n\nRevenue by segment(4)\n(C$ billion)\n$16.1\nAnnualized Dividend\nIncrease of:\n$11.4\n6%\nFive year(5)\n8%\nTen year(5)\n$10.2\nCapital\nMarkets\n$2.2\nI&TS\n$5.6\nInsurance\n$18.3\nP&CB\n2020 2021\n$13.3\nWealth\nManagement\n(1) Refer to the Glossary for definition on page 121\n(2) A medium-term (3-5 year) objective is considered to be achieved when the performance goal is met in either a 3- or 5-year period. These objectives",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_cash_flow",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -8390m, investing: -873m, financing: -3748m",
      "golden_context": "Page 64:\n\nyear ended 30 June 2023\nFor the year ended 30 June 2023\nOrdinary Total\nOrdinary Total\nshare Retained Shareholders'\nshare Retained Shareholders'\ncapital Reserves profits Equity\ncapital Reserves profits Equity\n$M $M $M $M\n$M $M $M $M\nAs at 30 June 2021 As at 30 June 2021 38,430 38,430 3,201 3,201 30,782 30,782 72,413\n72,413\nNet profit after income tax from continuing operations Net profit after income tax from continuing operations – – – – 10,374 10,374 10,374\n10,374\nOther comprehensive (expense)/income net of income tax from\nOther comprehensive (expense)/income net of income tax from\ncontinuing operations\ncontinuing operations\n– – (3,722) (3,722) 76 76 (3,646)\n(3,646)\nTotal comprehensive income for the period\nTotal comprehensive income for the period\n– – (3,722) (3,722) 10,450 10,450 6,728\n6,728\nTransactions with equity holders in their capacity as equity holders:\nTransactions with equity holders in their capacity as equity holders:\nShare buy-back 1 Share buy-back 1 (1,937) (1,937) – – (4,534) (4,534) (6,471)\n(6,471)\nDividends paid on ordinary shares Dividends paid on ordinary shares – – – – (6,535) (6,535) (6,535)\n(6,535)\nDividend reinvestment plan (net of issue costs)\nDividend reinvestment plan (net of issue costs)\n(1) (1) – – – – Share-based payments Share-based payments – – (9) (9) – – Purchase of treasury shares Purchase of treasury shares (60) (60) – – – – (60)\n(60)\nSale and vesting of treasury shares Sale and vesting of treasury shares 59 59 – – – – 59\n59\nOther changes Other changes – – (14) (14) 14–\n14–\nAs at 30 June 2022 As at 30 June 2022 36,491 36,491 (544) (544) 30,177 30,177 66,124\n66,124\nNet profit after income tax from continuing operations\nNet profit after income tax from continuing operations\n– – – – 9,280 9,280 9,280\n9,280\nOther comprehensive expense net of income tax from continuing operations\nOther comprehensive expense net of income tax from continuing operations\n– – (1,288) (1,288) (12) (12) (1,300)\n(1,300)\nTotal comprehensive income for the period Total comprehensive income for the period – – (1,288) (1,288) 9,268 9,268 7,980\n7,980\nTransactions with equity holders in their capacity as equity holders:\nTransactions with equity holders in their capacity as equity holders:\nShare buy-back 2 Share buy-back 2 (2,533) (2,533) – – – – (2,533)\n(2,533)\nDividends paid on ordinary shares Dividends paid on ordinary shares – – – – (7,117) (7,117) (7,117)\n(7,117)\nDividend reinvestment plan (net of issue costs) Dividend reinvestment plan (net of issue costs) – – – – – – Share-based payments Share-based payments – – 5 5 – – Purchase of treasury shares\nPurchase of treasury shares\n(64) (64) – – – – (64)\n(64)\nSale and vesting of treasury shares\nSale and vesting of treasury shares\n55 55 – – – – 55\n55\nOther changes Other changes – – (11) (11) 11–\n11–\nAs at 30 June 2023 As at 30 June 2023 33,949 (1,838) 32,339 64,450\n33,949 (1,838) 32,339 64,450\nBank\nBank\n– (3,722) 76 (3,646)\n– (3,722) 10,450 6,728\n(1)\n(1)\n(9)\n(9)\n– – 9,280 9,280\n– (1,288) (12) (1,300)\n– (1,288) 9,268 7,980\n–\n–\n5\n5\n– (11) 11–\n1 On 4 October 2021, the Group announced the successful completion of its $6 billion off-market buy-back of CBA ordinary shares. 67,704,807 ordinary shares were\n1 On 4 October 2021, the Group announced the successful completion of its $6 billion off-market buy-back of CBA ordinary shares. 67,704,807 ordinary shares were\nbought back at $88.62 per share, and comprised a fully franked dividend component of $66.96 per share ($4,534 million) and a capital component of $21.66 per share\nbought back at $88.62 per share, and comprised a fully franked dividend component of $66.96 per share ($4,534 million) and a capital component of $21.66 per share\n($1,466 million). On 9 February 2022, the Group announced its intention to conduct an on-market share buy-back of up to $2 billion. As at 30 June 2022,\n($1,466 million). On 9 February 2022, the Group announced its intention to conduct an on-market share buy-back of up to $2 billion. As at 30 June 2022,\nthe Group bought back a total of 4,853,197 ordinary shares ($468 million) at an average price of $96.42. The Group recognised $3 million transaction costs in relation\nthe Group bought back a total of 4,853,197 ordinary shares ($468 million) at an \n\nPage 65:\n\nStatements of Cash Flows (continued)\nStatements of Cash Flows (continued)\nFor the year ended 30 June 2023\nFor the year ended 30 June 2023\nGroup 1,2\nGroup 1,2\nBank 1\nBank 1\n–\n–\n–\n–\nNote Note 30 Jun 23 30 Jun 23 $M $M 30 Jun 22 30 Jun 22 $M $M 30 Jun 21 30 Jun 21 $M $M 30 Jun 23 30 Jun 23 $M $M 30 Jun 22\n30 Jun 22\n$M\n$M\nCash flows from investing activities\nCash flows from investing activities\nCash outflows from acquisitions of controlled entities (net of\nCash outflows from acquisitions of controlled entities (net of\ncash acquired)– cash acquired)– – – (61)– (61)– Cash inflows from disposals of associates and joint ventures– Cash inflows from disposals of associates and joint ventures– 1,789 1,789 892– 892– 1,789\n1,789\nCash outflows from acquisitions of associates and joint ventures Cash outflows from acquisitions of associates and joint ventures (41) (41) (256) (256) (60) (60) (37) (37) (254)\n(254)\nCash inflows from disposal of controlled entities\nCash inflows from disposal of controlled entities\n(net of cash disposed of) (net of cash disposed of) 567 567 1,975 1,975 682– 682– Dividends received Dividends received 95 95 30 30 128 128 1,233 1,233 3,456\n3,456\nNet amounts received from/(paid to) controlled entities 3\nNet amounts received from/(paid to) controlled entities 3\n– – – – – – 3,292 3,292 (3,674)\n(3,674)\nProceeds from sales of property, plant and equipment\nProceeds from sales of property, plant and equipment\n74 74 108 108 57 57 41 41 76\n76\nPurchases of property, plant and equipment Purchases of property, plant and equipment (683) (683) (231) (231) (235) (235) (349) (349) (189)\n(189)\nPurchases of intangible assets Purchases of intangible assets (885) (885) (746) (746) (532) (532) (769) (769) (642)\n(642)\nNet cash (used in)/provided by investing activities Net cash (used in)/provided by investing activities (873) (873) 2,669 2,669 871 871 3,411 3,411 562\n562\nCash flows from financing activities\nCash flows from financing activities\nShare buy-backs\nShare buy-backs\n(2,533) (2,533) (6,471) (6,471) – – (2,533) (2,533) (6,471)\n(6,471)\nDividends paid (excluding Dividend Reinvestment Plan)\nDividends paid (excluding Dividend Reinvestment Plan)\n(7,117) (7,117) (6,535) (6,535) (4,132) (4,132) (7,117) (7,117) (6,535)\n(6,535)\nProceeds from issuance of debt securities Proceeds from issuance of debt securities 51,833 51,833 61,921 61,921 17,802 17,802 43,462 43,462 53,854\n53,854\nRedemption of debt securities Redemption of debt securities (49,329) (49,329) (45,879) (45,879) (49,558) (49,558) (39,641) (39,641) (41,049)\n(41,049)\n(Maturity of)/proceeds from term funding from central banks (Maturity of)/proceeds from term funding from central banks (598) (598) 2,951 2,951 50,357 50,357 (1,500)–\n(1,500)–\nPurchases of treasury shares Purchases of treasury shares (101) (101) (76) (76) (71) (71) (64) (64) (60)\n(60)\nSales of treasury shares– Sales of treasury shares– 48 48 5– 5– 50\n50\nProceeds from issuance of loan capital Proceeds from issuance of loan capital 7,665 7,665 6,815 6,815 6,791 6,791 7,673 7,673 6,832\n6,832\nRedemption of loan capital Redemption of loan capital (3,043) (3,043) (6,540) (6,540) (2,608) (2,608) (3,043) (3,043) (6,165)\n(6,165)\nPayments for the principal portion of lease liabilities Payments for the principal portion of lease liabilities (525) (525) (523) (523) (428) (428) (470) (470) (477)\n(477)\nOther– Other– – – 153– 153– Net cash (used in)/provided by financing activities Net cash (used in)/provided by financing activities (3,748) (3,748) 5,711 5,711 18,311 18,311 (3,233) (3,233) (21)\n(21)\nNet (decrease)/increase in cash and cash equivalents Net (decrease)/increase in cash and cash equivalents (13,011) (13,011) 31,620 31,620 60,494 60,494 (10,799) (10,799) 24,553\n24,553\nEffect of foreign exchange rates on cash and cash equivalents\nEffect of foreign exchange rates on cash and cash equivalents\n828 828 355 355 (465) (465) 279 279 429\n429\nCash and cash equivalents at beginning of year Cash and cash equivalents at beginning of year 119,355 119,355 87,380 87,380 27,351 27,351 109,250 109,250 84,268\n84,268\n– 153– –\n–\n–\nCash and cash equivalents at end of year Cash and cash equivalents at end of year 12.2 (b) 12.2 (b) 107,172 107,172 119,355 87,380 119,355 87,380 98,730 98,730 109,250\n109,250\n1 It should be noted that the Group does not use these accounting Statements of Cash Flows in the internal management of its liquidity positions.\n1 It should be noted that the Group does not use these accounting Statements of Cash Flows in the internal management of its liquidity positions.\n2 Comparative information includes discontinued operations. For the cash flows from discontinued operations, refer to Note 11.3.\n2 Comparative information includes discontinued operations. For the cash flows from discontinued operations, refer to Note 11.3.\n3 Amounts received from/(paid to) controlled entities are presented in line with how they are managed and settled.\n3 Amounts received from/(paid to) controlled entities are presented in line with how they are managed and settled.\nThe above Statements of Cash Flows should be read in conjunction with the accompanying notes.\n\nPage 3:\n\n2023\nhighlights\nFinancial Non-financial\n$10,188m\nStatutory NPAT\n5%\n$27,237m\nOperating income\n10%\n43.5%\nCost-to-income ratio\n2.8%\n12.2%\nCapital ratio\nCET1 (APRA, Level 2)\n70 basis points\n$4.50\nDividend per share,\nfully franked\n$10,164m\nCash net profit\nafter tax (NPAT)\n6%\nGroup cash NPAT\nby business unit\n▲ 6%\nRetail Banking Services\n$5,158m\nBusiness Banking\n$3,973m\nInstitutional Banking\nand Markets\n$1,031m\nNew Zealand\n$1,356m\n#1\nNet Promoter Score®\n(NPS) Retail, Business\nand Institutional banking\n35%\nof retail customers consider\nCBA their main financial\ninstitution (MFI)\n79%\npeople engagement\n860,000+\nshareholders,\n78% Australian owned\nTotal shareholder\nreturn (TSR)\n142% 10-year\n72% 5-year\n16% 1-year\nFinancials are presented on a continuing operations basis, except the Common Equity Tier 1 (CET1) capital ratio which includes discontinued\noperations. Comparative information has been restated. All figures relate to the full year ended 30 June 2023 and comparisons are to the year\nended 30 June 2022, except for people engagement which is as at March 2023. For data sources, see Glossary on pages 290–303.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_company_type",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form mentioend. If no excplicit legal form is given in the answer, the answer can be marked as correct. ",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_key_financials",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Statuory NPAT: 10,188m, operating income: 27,237m, cash net profit after tax (NPAT): 10,164m",
      "golden_context": "Page 3:\n\n2023\nhighlights\nFinancial Non-financial\n$10,188m\nStatutory NPAT\n5%\n$27,237m\nOperating income\n10%\n43.5%\nCost-to-income ratio\n2.8%\n12.2%\nCapital ratio\nCET1 (APRA, Level 2)\n70 basis points\n$4.50\nDividend per share,\nfully franked\n$10,164m\nCash net profit\nafter tax (NPAT)\n6%\nGroup cash NPAT\nby business unit\n▲ 6%\nRetail Banking Services\n$5,158m\nBusiness Banking\n$3,973m\nInstitutional Banking\nand Markets\n$1,031m\nNew Zealand\n$1,356m\n#1\nNet Promoter Score®\n(NPS) Retail, Business\nand Institutional banking\n35%\nof retail customers consider\nCBA their main financial\ninstitution (MFI)\n79%\npeople engagement\n860,000+\nshareholders,\n78% Australian owned\nTotal shareholder\nreturn (TSR)\n142% 10-year\n72% 5-year\n16% 1-year\nFinancials are presented on a continuing operations basis, except the Common Equity Tier 1 (CET1) capital ratio which includes discontinued\noperations. Comparative information has been restated. All figures relate to the full year ended 30 June 2023 and comparisons are to the year\nended 30 June 2022, except for people engagement which is as at March 2023. For data sources, see Glossary on pages 290–303.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_revenue",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Total operating income: 27237m",
      "golden_context": "Page 28:\n\nhigher operating expenses and\nCash NPAT\nloan impairment expense.\nthat are non-recurring in nature and not\nconsidered representative of the Group’s\nongoing financial performance.\nStatutory NPAT includes non-cash items.\n$10,164m\nFY22 $9,595m\nCash NPAT is management’s preferred\nmeasure of the Group’s financial\nperformance. It excludes non-cash items\nFor details and a reconciliation between\nstatutory and cash NPAT, refer to page 82\nin the Directors’ report.\nFY23 FY22 % change\nStatutory NPAT\n$10,188m\nFY22 $9,673m\nNet interest income 23,056 19,473 ▲ 18%\nOther operating income 4,181 5,216 ▼ 20%\nTotal operating income 27,237 24,689 ▲ 10%\nOperating expenses (11,858) (11,428) ▲ 4%\nLoan impairment (expense)/benefit (1,108) 357 ▲ lge\nNet profit before tax 14,271 13,618 ▲ 5%\nTax expense (4,107) (4,023) ▲ 2%\nNet profit after tax – cash basis 10,164 9,595 ▲ 6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_revenue_growth",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Total operating income: 27237m, prior year: 24689m",
      "golden_context": "Page 28:\n\nhigher operating expenses and\nCash NPAT\nloan impairment expense.\nthat are non-recurring in nature and not\nconsidered representative of the Group’s\nongoing financial performance.\nStatutory NPAT includes non-cash items.\n$10,164m\nFY22 $9,595m\nCash NPAT is management’s preferred\nmeasure of the Group’s financial\nperformance. It excludes non-cash items\nFor details and a reconciliation between\nstatutory and cash NPAT, refer to page 82\nin the Directors’ report.\nFY23 FY22 % change\nStatutory NPAT\n$10,188m\nFY22 $9,673m\nNet interest income 23,056 19,473 ▲ 18%\nOther operating income 4,181 5,216 ▼ 20%\nTotal operating income 27,237 24,689 ▲ 10%\nOperating expenses (11,858) (11,428) ▲ 4%\nLoan impairment (expense)/benefit (1,108) 357 ▲ lge\nNet profit before tax 14,271 13,618 ▲ 5%\nTax expense (4,107) (4,023) ▲ 2%\nNet profit after tax – cash basis 10,164 9,595 ▲ 6%",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000554_segments",
      "report_id": "ID_000554",
      "company_name": "Commbank",
      "year": 2023,
      "country": "AU",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Retail Banking Services, Business Banking, Institutional Banking and Markets, New Zealand",
      "golden_context": "Page 3:\n\n2023\nhighlights\nFinancial Non-financial\n$10,188m\nStatutory NPAT\n5%\n$27,237m\nOperating income\n10%\n43.5%\nCost-to-income ratio\n2.8%\n12.2%\nCapital ratio\nCET1 (APRA, Level 2)\n70 basis points\n$4.50\nDividend per share,\nfully franked\n$10,164m\nCash net profit\nafter tax (NPAT)\n6%\nGroup cash NPAT\nby business unit\n▲ 6%\nRetail Banking Services\n$5,158m\nBusiness Banking\n$3,973m\nInstitutional Banking\nand Markets\n$1,031m\nNew Zealand\n$1,356m\n#1\nNet Promoter Score®\n(NPS) Retail, Business\nand Institutional banking\n35%\nof retail customers consider\nCBA their main financial\ninstitution (MFI)\n79%\npeople engagement\n860,000+\nshareholders,\n78% Australian owned\nTotal shareholder\nreturn (TSR)\n142% 10-year\n72% 5-year\n16% 1-year\nFinancials are presented on a continuing operations basis, except the Common Equity Tier 1 (CET1) capital ratio which includes discontinued\noperations. Comparative information has been restated. All figures relate to the full year ended 30 June 2023 and comparisons are to the year\nended 30 June 2022, except for people engagement which is as at March 2023. For data sources, see Glossary on pages 290–303.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_cash_flow",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 7731m, investing: -1601m, financing: -2582m",
      "golden_context": "Page 64:\n\nDBS Group Holdings Ltd and its Subsidiaries\nCONSOLIDATED CASH\nFLOW STATEMENT\nfor the year ended 31 December 2021\nIn $ millions 2021 2020\nCash flows from operating activities\nProfit before tax 7,780 5,368\nAdjustments for non-cash and other items:\nAllowances for credit and other losses Depreciation of properties and other fixed assets Share of profits or losses of associates Net gain on disposal, net of write-off of properties and other fixed assets Net income from investment securities Cost of share-based payments Interest expense on subordinated term debts Interest expense on lease liabilities 52 3,066\n669 648\n(213) (61)\n13 38\n(387) (963)\n134 131\n76 64\n30 28\nProfit before changes in operating assets and liabilities 8,154 8,319\nIncrease/ (Decrease) in:\nDue to banks 598 4,246\nDeposits and balances from customers Other liabilities (16,913) 16,160\nOther debt securities and borrowings 33,162 57,164\n9,149 (14,250)\n(Increase)/ Decrease in:\nRestricted balances with central banks Government securities and treasury bills Due from banks 232 (11,465)\nBank and corporate securities Loans and advances to customers (1,189) (1,818)\n(1,168) (379)\n(3,277) (1,340)\n(35,518) (13,460)\nOther assets 15,199 (17,108)\nTax paid (698) (1,188)\nNet cash generated from operating activities (1) 7,731 24,881\nCash flows from investing activities\nDividends from associates 42 31\nCapital distribution from an associate Acquisition of interests in associates and joint ventures Proceeds from disposal of properties and other fixed assets Purchase of properties and other fixed assets Cash and cash equivalents acquired from Lakshmi Vilas Bank (LVB)– Net cash used in investing activities (2) 10–\n(1,108)–\n22 8\n(567) (547)\n93\n(1,601) (415)\nDBS Group Holdings Ltd and its Subsidiaries\nCONSOLIDATED CASH\nFLOW STATEMENT\nfor the year ended 31 December 2021\nIn $ millions 2021 2020\nCash flows from financing activities\nIssue of perpetual capital securities– Redemption of perpetual capital securities Issue of subordinated term debts Redemption of subordinated term debts Interest paid on subordinated term debts Redemption of preference shares issued by a subsidiary– Purchase of treasury shares Dividends paid to non-controlling interests– Dividends paid to shareholders of the Company, net of scrip dividends(a) Capital contribution by non-controlling interests 1,392\n(1,008)–\n1,000–\n(257)–\n(64) (66)\n(800)\n(16) (447)\n(38)\n(2,392) (2,411)\n155 1\nNet cash used in financing activities (3) (2,582) (2,369)\nExchange translation adjustments (4) 940 170\nNet change in cash and cash equivalents (1)+(2)+(3)+(4) Cash and cash equivalents at 1 January 4,488 22,267\n42,202 19,935\nCash and cash equivalents at 31 December (Note 15) 46,690 42,202\n(a) Includes distributions paid on capital securities classified as equity\n(The notes on pages 124 to 183 as well as the Risk Management section on pages 78 to 96 form part of these financial statements)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_company_type",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "Ltd",
      "golden_context": "Page 1:\n\nDBS Group Holdings Ltd",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_key_financials",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Income: 14.3bn, net profit: 6.8bn",
      "golden_context": "Page 4:\n\nBUSINESS HIGHLIGHTS\nIncome (SGD)\n14.3 billion\nTotal assets (SGD)\n686 billion\nOver\n340,000\nInstitutional Banking\nCustomers\nSUSTAINABILITY HIGHLIGHTS\nAchieved more than\n600,000 kg\nof food impact as part of reducing\nfood waste and enhancing food security\nSet aside\nSGD 100 million\nto enhance support for social enterprises\nand community causes\nEngaged in more than\n100,000 hours\nof employee volunteerism activities\nNet profit (SGD)\n6.80 billion\nOver\n33,000\nEmployees\nOver\n11.8 million\nConsumer Banking/ Wealth\nManagement Customers\nAwarded\n58 accolades\nin recognition of sustainability\nand purpose-driven efforts\nCommitted\nSGD 20.5 billion\nin sustainable financing transactions\nDisbursed record\nSGD 3 million\nthrough DBS Foundation Gra",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_revenue",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Income: 14.3bn",
      "golden_context": "Page 4:\n\nBUSINESS HIGHLIGHTS\nIncome (SGD)\n14.3 billion\nTotal assets (SGD)\n686 billion\nOver\n340,000\nInstitutional Banking\nCustomers\nSUSTAINABILITY HIGHLIGHTS\nAchieved more than\n600,000 kg\nof food impact as part of reducing\nfood waste and enhancing food security\nSet aside\nSGD 100 million\nto enhance support for social enterprises\nand community causes\nEngaged in more than\n100,000 hours\nof employee volunteerism activities\nNet profit (SGD)\n6.80 billion\nOver\n33,000\nEmployees\nOver\n11.8 million\nConsumer Banking/ Wealth\nManagement Customers\nAwarded\n58 accolades\nin recognition of sustainability\nand purpose-driven efforts\nCommitted\nSGD 20.5 billion\nin sustainable financing transactions\nDisbursed record\nSGD 3 million\nthrough DBS Foundation Gra",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_revenue_growth",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Income: 14.3bn, prior year: 14.6bn",
      "golden_context": "Page 15:\n\n(SGD million)\nConsumer\nBanking/ Wealth\nManagement\nInstitutional\nBanking\nTreasury\nMarkets Others Total\nYear 2021\nNet interest income 2,548 3,999 783 1,110 8,440\nNet fee and commission\n2,186 1,282- 56 3,524\nincome\nOther non-interest\n588 703 726 316 2,333\nincome(1)\nTotal income 5,322 5,984 1,509 1,482 14,297\nExpenses(1) 3,353 2,086 647 383 6,469\nTotal allowances 46 141 (5) (130) 52\nProfit before tax 1,923 3,757 867 1,229 7,776\nYear 2020\nNet interest income 3,339 3,995 840 902 9,076\nNet fee and commission\n1,869 1,160- 29 3,058\nincome\nOther non-interest\n559 590 596 713 2,458\nincome\nTotal income 5,767 5,745 1,436 1,644 14,592\nExpenses 3,288 1,987 634 249 6,158\nTotal allowances 456 1,485 14 1,111 3,066\n(C) Net interest income\nNet interest income declined 7% to\nSGD 8.44 billion.\nNet interest margin fell 17 basis points to\n1.45% as benchmark interest rates used\nfor pricing loans remained low and from an\nincreased deployment of surplus deposits at\nlower yields.\nIn constant-currency terms, gross loans rose\n9% or SGD 34 billion to SGD 415 billion. The\nincrease was led by an 8% or SGD 18 billion\nincrease in non-trade corporate loans led by\nSingapore and Greater China customers. Trade\nloans rose 10% or SGD 4 billion. Consumer\nloans rose 9% or SGD 10 billion from growth in\nwealth management and housing loans.\nIn constant-currency terms, deposits rose by\n7% or SGD 32 billion to SGD 502 billion. Casa\ndeposits grew SGD 41 billion, enabling more\nexpensive fixed deposits to be let go. As a\nresult, the Casa ratio rose from 73% to 76%.\nOur market share of total SGD deposits\nwas maintained.\nNet interest income – NIM\nNet interest\n1.62 1.45 margin (%)\n1.86 1.62 1.53 1.49 1.49 1.45 1.43 1.43\n2,482 2,303 2,171 2,120 2,107 2,089 2,104 2,140\nNet interest\nincome\n(SGD million)\n9,076 8,440\n2020\n2021\n1Q\n2Q\n3Q\n4Q\n1Q\n2Q\n2020 2021\n3Q\n4Q\nProfit before tax 2,023 2,273 788 284 5,368",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000560_segments",
      "report_id": "ID_000560",
      "company_name": "DBS",
      "year": 2021,
      "country": "SG",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Consumer Banking/Wealth Management, Insitutional Banking, Treasury Markets, Others",
      "golden_context": "Page 42:\n\n on page 81.\nThe sections marked by a grey line in the left margin form part of the Group’s audited\nfinancial statements. Please refer to Pillar 3 and Other Regulatory Disclosures for other\nrisk disclosures.\nMarket risk\nRisk arising from adverse changes in interest\nrates, foreign exchange rates, equity prices,\ncredit spreads and commodity prices, as well as\nrelated factors.\nRead more about this on page 88.\nLiquidity risk\nRisk that arises if DBS is unable to meet\nfinancial obligations when they are due.\nRead more about this on page 90.\nOperational risk\nRisk arising from inadequate or failed internal\nprocesses, people or systems, or from external\nevents. It includes legal risk, but excludes\nstrategic and reputational risk.\nRead more about this on page 94.\nReputational risk\nRisk that arises if our shareholder value\n(including earnings and capital) is adversely\naffected by any negative stakeholder\nperception of DBS' image. This influences\nour ability to establish new relationships or\nservices, service existing relationships and\nhave continued access to sources of funding.\nReputational risk usually occurs when the other\nrisks are poorly managed.\nRead more about this on page 96.\n2 Risk-taking and our business segments\nAs we focus on Asia's markets, we are exposed to concentration risks within the region. We manage this by diversifying our risks across industries\nand individual exposures. In addition, DBS relies on the specialist knowledge of our regional markets and industry segments to effectively assess\nour risks. The chart below provides an overview of the risks arising from our business segments. The asset size of each business segment reflects its\ncontribution to the balance sheet, and the risk-weighted assets (RWA) offer a risk-adjusted perspective.\nRefer to Note 45 to the financial statements on page 181 for more information about DBS' business segments\nSGD million Consumer\nBanking/ Wealth\nManagement\nInstitutional\nBanking Treasury Markets Others(a) Group\nAssets(b) 127,268 313,180 163,554 76,709 680,711\nRisk-weighted\nassets 50,252 220,012 44,532 27,895 342,691\n% of RWA Consumer\nBanking/ Wealth\nManagement\nInstitutional\nBanking Treasury Markets Others(a) Group\nCredit risk 83 95 53 74 86\nMarket risk 0 0 42 18 7\nOperational risk 17 8 7\n5 5 (a) Encompasses assets/ RWA from capital and balance sheet management, funding and liquidity activities, DBS Vickers Group and The I",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_cash_flow",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -1055692k, investing: -2428809k, financing: 400256k",
      "golden_context": "Page 102:\n\ntatutory corporate income tax rate in Indonesia was reduced from 25% to 22% with effect from the financial year 2020.\nIn March 2021, the Philippines reduced its corporate income tax rate from 30% to 25%, effective retroactively from July 1, 2020.\nB. Liquidity and Capital Resources\nCash Flows and Working Capital\nOur principal sources of liquidity have historically been cash generated from operating activities and proceeds from equity offerings and convertible notes\nofferings. We also receive customer deposits from our banking business.\nAs of December 31, 2020, 2021 and 2022, we had US$7.1 billion, US$10.8 billion and US$7.6 billion, respectively, in cash, cash equivalents and restricted cash.\nCash and cash equivalents consist of cash on hand, demand deposits and money market funds placed with banks and other financial institutions which are\nunrestricted as to withdrawal and use and have original maturities of three months or less. Restricted cash mainly comprise monies received that are held in escrow in\nconnection with our e-commerce business and mobile wallet in connection with our digital financial services business. Our cash, cash equivalents and restricted cash\nare primarily denominated in U.S. dollars as well as in local currencies of the markets where we operate. We believe that our cash and cash equivalents, together with\ncash generated from operating and short-term investments, will be sufficient to meet our anticipated cash needs and obligations for the next 12 months. We may also\naccess capital markets or credit facilities should we require additional working capital.\nThe following table sets forth a summary of our cash flows for the periods indicated:\nNet cash generated from (used in) operating activities Net cash used in investing activities Net cash generated from financing activities For the Year Ended December 31,\nNet increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of year(1) 7,053,393 10,838,140 7,610,384\n2020 2021 2022\n(US$ thousands)\n555,868 208,649 (1,055,692)\n(886,912) (3,767,273) (2,428,809)\n3,733,132 7,401,589 400,256\nEffect of foreign exchange rate changes on cash, cash equivalents and restricted cash 80,727 (58,218) (143,511)\n3,482,815 3,784,747 (3,227,756)\n3,570,578 7,053,393 10,838,140\n(1) As of December 31, 2022, cash and cash equivalents of US$13.2 million was included in assets held for sale within prepaid expenses and other assets.\nOperating Activities\nNet cash used in operating activities amounted to US$1.1 billion for the year ended December 31, 2022 compared to net cash generated from operating\nactivities of US$208.6 million for the year ended December 31, 2021. The principal driver of our operating cash flows is cash received from sales of our products and\nservices, including proceeds from our sales of in-game virtual items in our digital entertainment business, fees collected from customers in our e-commerce business,\ninterest received from our loan business, commissions from merchants in our digital financial services business and proceeds from direct sales of products, offset by\noperating expenses. The decrease in net cash generated from operating activities was primarily attributable to the decrease in the change in deferred revenue by\nUS$1.4 billion, decrease in the change in accrued expenses and other payables by US$584.8 million, and decrease in the change in escrow payables and advances from\ncustomers by US$487.3 million. The decrease in the change in deferred",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_company_type",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nUNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549\n_______________________\nFORM 20-F\n(Mark One)\nOR\n☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934\n☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the fiscal year ended December 31, 2022.\nOR\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nFor the transition period from ____________ to ____________\nOR\n☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\nDate of event requiring this shell company report\nCommission file number: 001-38237\nSea Limited\n(Exact name of Registrant as specified in its charter)\n_______________________\nN/A\n(Translation of Registrant’s name into English)\nCayman Islands\n(Jurisdiction of incorporation or organization)\n1 Fusionopolis Place, #17-10, Galaxis\nSingapore 138522\n(Address of principal executive offices)\nYanjun Wang, Esq.\nSea Limited\n1 Fusionopolis Place, #17-10, Galaxis\nSingapore 138522\nTel: +65 6270-8100\nE-mail: secnotice@sea.com\n(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)\nSecurities registered or to be registered pursuant to Section 12(b) of the Act:\nTrading Symbol Name of each exchange on which registered\nSE New York Stock Exchange\nTitle of each class American Depositary Shares, each representing one Class A\nordinary share\nClass A ordinary shares, par value US$0.0005 per share*\n* Not for trading, but only in connection with the listing of\nAmerican Depositary Shares on the New York Stock Exchange.\nSecurities registered or to be registered pursuant to Section 12(g) of the Act:\nNone\n(Title of Class)\nSecurities for which there is a reporting obligation pursuant to Section ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_key_financials",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "1.7bn net losses.  12449705k total revenue",
      "golden_context": "Page 11:\n\nour ability to operate and maintain our business in such markets. In the event of such restrictions, we may face additional\nlegal and regulatory compliance costs and risks, lose investments we have made and/or exit such markets, our users may develop a negative perception of us, and our\nbusiness, financial condition and results of operations could be negatively affected.\nWe have a history of net losses and we may not achieve or keep profitability in the future.\nWe had net losses of US$1.6 billion, US$2.0 billion and US$1.7 billion in 2020, 2021 and 2022, respectively. Our net losses in 2022 were primarily due to our\ninvestments in expanding our businesses, in particular our e-commerce and digital financial services businesses. In 2020, 2021 and 2022, our sales and marketing\nexpenses equaled 41.8%, 38.5% and 26.3% of our total revenue, respectively. Our operating expenses may increase as we invest in our businesses, including, among\nother things, offering user incentives, conducting marketing activities, providing new content and services, and hiring additional headcount. These efforts may be\ncostlier than we expect and our revenue may not increase sufficiently to offset these expenses.\nWhile our pivot to focus on efficiency and profitability has delivered positive total net income in the fourth quarter of 2022, we may not sustain this\nprofitability given the uncertainty in global markets and future fluctuations in our performance. We may continue to take actions and make investments that do not\ngenerate immediate positive financial returns and may result in increased operating losses or other losses in the short term with no assurance that we will eventually\nachieve the intended long-term benefits or maintain profitability. These factors, among others set out in this “Item 3. Key Information—D. Risk Factors” section, may\nnegatively affect our ability to achieve profitability in the near term, if at all.\nOur results of operations are subject to fluctuatio\n\n\n\"Page 92:\n\n operational metrics reported in the U.S. dollar to be not fully representative of the underlying business performance.\nWe believe that our diversification in geographic coverage benefits our shareholders over the long-term. We may also enter into foreign currency derivative\ntransactions to hedge potential foreign exchange risks. See “Item 3. Key Information—D. Risk Factors—Business and Operational Related Risks—Risks Applicable\nAcross Multiple Businesses—Fluctuations in foreign currency exchange rates may adversely affect our operational and financial results, which we report in U.S.\ndollars.”\nDescription of Certain Statement of Operations Items\nRevenue\nWe currently generate revenue primarily from our digital entertainment business and e-commerce business. The table below sets forth our revenue\nbreakdown.\nFor the Year Ended December 31,\n2020 2021 2022\nUS$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue\n(thousands, except for percentages)\nService revenue\nDigital Entertainment 2,015,972 46.1 4,320,013 43.4 3,877,163 31.1\nE-commerce and other services 1,777,330 40.6 4,564,617 45.8 7,463,173 60.0\nSales of goods 582,362 13.3 1,070,560 10.8 1,109,369 8.9\nTotal revenue 4,375,664 100.0 9,955,190 100.0 12,449,705 100.0\nThe table below sets forth the revenue from external customers based on the geographical locations where the services were provided or goods were sold,\nboth in absolute amount and as a percentage of total revenue for the periods indicated.\n92\"",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_revenue",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "12449705k total revenue",
      "golden_context": "Page 92:\n\n operational metrics reported in the U.S. dollar to be not fully representative of the underlying business performance.\nWe believe that our diversification in geographic coverage benefits our shareholders over the long-term. We may also enter into foreign currency derivative\ntransactions to hedge potential foreign exchange risks. See “Item 3. Key Information—D. Risk Factors—Business and Operational Related Risks—Risks Applicable\nAcross Multiple Businesses—Fluctuations in foreign currency exchange rates may adversely affect our operational and financial results, which we report in U.S.\ndollars.”\nDescription of Certain Statement of Operations Items\nRevenue\nWe currently generate revenue primarily from our digital entertainment business and e-commerce business. The table below sets forth our revenue\nbreakdown.\nFor the Year Ended December 31,\n2020 2021 2022\nUS$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue\n(thousands, except for percentages)\nService revenue\nDigital Entertainment 2,015,972 46.1 4,320,013 43.4 3,877,163 31.1\nE-commerce and other services 1,777,330 40.6 4,564,617 45.8 7,463,173 60.0\nSales of goods 582,362 13.3 1,070,560 10.8 1,109,369 8.9\nTotal revenue 4,375,664 100.0 9,955,190 100.0 12,449,705 100.0\nThe table below sets forth the revenue from external customers based on the geographical locations where the services were provided or goods were sold,\nboth in absolute amount and as a percentage of total revenue for the periods indicated.\n92",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_revenue_growth",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "12449705k total revenue, prior year: 9955190k",
      "golden_context": "Page 92:\n\n operational metrics reported in the U.S. dollar to be not fully representative of the underlying business performance.\nWe believe that our diversification in geographic coverage benefits our shareholders over the long-term. We may also enter into foreign currency derivative\ntransactions to hedge potential foreign exchange risks. See “Item 3. Key Information—D. Risk Factors—Business and Operational Related Risks—Risks Applicable\nAcross Multiple Businesses—Fluctuations in foreign currency exchange rates may adversely affect our operational and financial results, which we report in U.S.\ndollars.”\nDescription of Certain Statement of Operations Items\nRevenue\nWe currently generate revenue primarily from our digital entertainment business and e-commerce business. The table below sets forth our revenue\nbreakdown.\nFor the Year Ended December 31,\n2020 2021 2022\nUS$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue US$\nPercentage\nof Total\nRevenue\n(thousands, except for percentages)\nService revenue\nDigital Entertainment 2,015,972 46.1 4,320,013 43.4 3,877,163 31.1\nE-commerce and other services 1,777,330 40.6 4,564,617 45.8 7,463,173 60.0\nSales of goods 582,362 13.3 1,070,560 10.8 1,109,369 8.9\nTotal revenue 4,375,664 100.0 9,955,190 100.0 12,449,705 100.0\nThe table below sets forth the revenue from external customers based on the geographical locations where the services were provided or goods were sold,\nboth in absolute amount and as a percentage of total revenue for the periods indicated.\n92",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000564_segments",
      "report_id": "ID_000564",
      "company_name": "Sea Limited",
      "year": 2022,
      "country": "KY",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Digital Entertainment, E-commerce, Digital Financial Services, Other Services",
      "golden_context": "Page 100:\n\nome tax expense of US$141.6 million in 2020 and US$332.9 million in 2021. This was primarily due to corporate income tax and withholding tax\nexpenses incurred by our digital entertainment segment.\nShare of Results of Equity Investees\nWe had share of profit of equity investees of US$0.7 million in 2020 and US$5.0 million in 2021.\nNet Loss\nAs a result of the foregoing, we had net loss of US$1.6 billion in 2020 and US$2.0 billion in 2021.\nSegment Reporting\nWe have three reportable segments, namely, digital entertainment, e-commerce and digital financial services. The chief operating decision maker reviews the\nperformance of each segment based on revenue and certain key operating metrics of the operations and uses these results for the purposes of allocating resources to\nand evaluating the financial performance of each segment.\nInformation about segments during the years ended December 31, 2020, 2021 and 2022 presented were as follows:\nDigital\nEntertainment E-commerce\nFor the Year ended December 31, 2022\nDigital Financial\nOther\nServices\nServices(1)\nUnallocated\nexpenses(2) Consolidated\n(US$ thousands)\nRevenue 3,877,163 7,288,677 1,221,996 61,869 – 12,449,705\nOperating income (loss) 1,971,416 (2,013,360) (277,264) (252,162) (916,138) (1,487,508)\nNon-operating loss, net (13,025)\nIncome tax expense (168,395)\nShare of results of equity investees 11,156\nNet loss (1,65",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_cash_flow",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "cash_flow",
      "golden_answer": "No cash flow mentioned in the report.",
      "golden_context": "No context given as the cash flow is not named in the report.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_company_type",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "company_type",
      "golden_answer": "No legal form given. The answer can be marked as correct if no answer is stated.",
      "golden_context": "No context given.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_key_financials",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "key_financials",
      "golden_answer": "Net profit RM8.10bn, return on equity 9.8%, EPS: 69.7sen",
      "golden_context": "Page 9:\n\nised over RM13.6 billion in sustainable finance\n• Our community programmes benefitted 502,759 households across\nASEAN\n• The first bank in Malaysia to commit to purchase Malaysia Renewable\nEnergy Certificates, equivalent to 70% of our Malaysian operations’\nScope 2 carbon emissions\n• Retained our inclusion in the Bloomberg Gender-Equality Index for the\nfifth consecutive year\nKey Messages to Shareholders on pages 12 to 15 and Sustainability Review on\npages 108 to 114.\nHIGHLIGHTS\nOF 2021\nNet Profit*\nRM8.10 billion\nReturn on Equity\n9.8%\n* Net profit is equivalent to profit attributable to equity holders of the Bank.\nPRIORITISING EMPLOYEES’\nWELL-BEING AND SAFETY\nOur employees’ well-being remains our utmost priority, with stronger\nemphasis placed on mental health as we:\n• Introduced a Mental Health Policy\n• Certified internal Mental Health First Aiders as the first point of contact\nfor employees seeking assistance\n• Established support channels and provided educational programmes\non mental well-being\nGroup Human Capital on page 67.\nMAYBANK ANNUAL REPORT 2021\n7\nSUPPORTING STAKEHOLDERS\nTHROUGHOUT THE\nPROLONGED PANDEMIC\nIn supporting stakeholders towards recovery, the Group:\n• As at year-end, continued to extend RM69.5 billion in loan relief and\nsupport measures to the Group’s consumer and SME segments\n• Contributed RM14.0 million towards strengthening Malaysia’s healthcare\nsystem during the resurgence in infections\n• Through its Board and senior management donated RM2.27 million to\naccelerate vaccinations for vulnerable communities\n• Provided tools and assistance for children from B40 families to enable\nremote learning\n• Facilitated a hybrid work environment for our employees to ensure\ntheir safety and sustain productivity\nKey Messages to Shareholders on pages 12 to 15, Group Community Financial\nServices on page 51, Group Global Banking on page 54, Group Insurance &\nTakaful on page 57, Group Islamic Banking on page 60, Pervasively Digital on\npages 62 to 64, Group Human Capital on pages 67 to 68 and Sustainability\nReview on pages 109 to 111.\nCOMMITTED TO\nSHAREHOLDER RETURNS\nOur commitment to reward shareholders prevailed despite the prolonged\npandemic. Total dividend of 58 sen per share for FY2021 equates to a\ntotal payout of 84.5%, which continues to exceed our policy rate of 40%\nto 60%.\nKey Messages to Shareholders on pages 11 and 16 and Reflections from Our\nGroup Chief Financial Officer on page 42.\nEarnings per Share\n69.7 sen\nCET1 Capital Ratio\n16.090%\nPLACING CUSTOMERS\nFOREMOST IN EVERYTHING\nTHAT WE DO\nTo meet customers’ needs for convenience, strong service levels and\npersonalisation, we enhanced our Customer Experience (CX) framework\nto achieve Top Rated CX Group-wide. With data analytics and machine\nlearning, we hope to minimise issues from the onset and prevent recurring\ncomplaints. Our efforts have cemented our industry leadership positi",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_revenue",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "revenue",
      "golden_answer": "Net operating income: 25448.4m",
      "golden_context": "Page 39:\n\nANALYSIS OF INCOME STATEMENT FOR FY2021\nOUR STRATEGY\nFY2021\nRM million\nFY2020\nRM million YoY\nNet fund based income 19,089.0 16,650.5 14.6%\nNet fee based income 6,359.4 8,112.7 (21.6)%\nNet operating income 25,448.4 24,763.2 2.8%\nOverhead expenses (11,518.5) (11,221.9) 2.6%\nPre-provisioning operating profit (PPOP)1 13,929.9 13,541.3 2.9%\nNet impairment losses (3,229.4) (5,093.5) (36.6)%\nOperating profit 10,700.4 8,447.8 26.7%\nProfit before taxation and zakat (PBT) 10,886.6 8,657.0 25.8%\nNet Profit2 8,096.2 6,481.2 24.9%\nEPS – basic (sen) 69.7 57.7 20.8%\nFINANCIAL CAPITAL\nINTELLECTUAL CAPITAL\nNote:\n¹ Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses\n² Net Profit is equivalent to profit attributable to equity holders of the Bank\nHUMAN CAPITAL\nSUSTAINING OUR PERFORMANCE AMIDST UNEVEN ECONOMIC RECOVERY\n• The Group’s net operating income grew 2.8% YoY supported by improvement in net fund based income of 14.6% YoY, but moderated by a decline in net\nfee based income by 21.6% YoY.\n• Net fund based income growth was mainly driven by net interest margin (NIM) expansion of 22 bps YoY, as funding costs for customer deposits reduced\n38.5% YoY from the stronger growth in lower cost deposits, namely current and savings accounts (CASA) during a period of prevailing low interest rates.\nThe improvement in NIM came ahead of the Group’s guidance for expansion of 10 bps to 15 bps i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_revenue_growth",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "revenue_growth",
      "golden_answer": "Net operating income: 25448.4m, prior year: 24763.2m",
      "golden_context": "Page 39:\n\nANALYSIS OF INCOME STATEMENT FOR FY2021\nOUR STRATEGY\nFY2021\nRM million\nFY2020\nRM million YoY\nNet fund based income 19,089.0 16,650.5 14.6%\nNet fee based income 6,359.4 8,112.7 (21.6)%\nNet operating income 25,448.4 24,763.2 2.8%\nOverhead expenses (11,518.5) (11,221.9) 2.6%\nPre-provisioning operating profit (PPOP)1 13,929.9 13,541.3 2.9%\nNet impairment losses (3,229.4) (5,093.5) (36.6)%\nOperating profit 10,700.4 8,447.8 26.7%\nProfit before taxation and zakat (PBT) 10,886.6 8,657.0 25.8%\nNet Profit2 8,096.2 6,481.2 24.9%\nEPS – basic (sen) 69.7 57.7 20.8%\nFINANCIAL CAPITAL\nINTELLECTUAL CAPITAL\nNote:\n¹ Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses\n² Net Profit is equivalent to profit attributable to equity holders of the Bank\nHUMAN CAPITAL\nSUSTAINING OUR PERFORMANCE AMIDST UNEVEN ECONOMIC RECOVERY\n• The Group’s net operating income grew 2.8% YoY supported by improvement in net fund based income of 14.6% YoY, but moderated by a decline in net\nfee based income by 21.6% YoY.\n• Net fund based income growth was mainly driven by net interest margin (NIM) expansion of 22 bps YoY, as funding costs for customer deposits reduced\n38.5% YoY from the stronger growth in lower cost deposits, namely current and savings accounts (CASA) during a period of prevailing low interest rates.\nThe improvement in NIM came ahead of the Group’s guidance for expansion of 10 bps to 15 bps i",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000571_segments",
      "report_id": "ID_000571",
      "company_name": "Maybank",
      "year": 2021,
      "country": "MY",
      "industry": "Financials",
      "question_type": "segments",
      "golden_answer": "Group Community Financial Services, Group Corporate Banking  & Global Markets, Group Investment Banking, Group Asset Management, Group Insurance and Takaful",
      "golden_context": "Page 51:\n\nSEGMENTAL INFORMATION\nMAYBANK ANNUAL REPORT 2021\n49\nFINANCIAL\nPERFORMANCE\nFY 31 Dec 2021\nFY 31 Dec 2020\nANALYSIS BY GEOGRAPHICAL LOCATION\nNet Operating Income (RM’ million)\n+2.8%\n+9.4% -3.9% -3.3% -4.1%\n25,448\n24,763 23,473\n21,448\n4,256 2,735 1,546\n4,088 2,644 1,483\nNote: Total net operating\nincome includes inter-\ns e g m e n t w h i c h a r e\neliminated on consolidation\nof RM6,240 million for FY\n31 December 2021 and\nRM5,222 million for FY\n31 December 2020.\nTotal Malaysia Singapore Indonesia Other Locations\nProfit Before Taxation and Zakat (RM’ million)\n+25.8%\n10,887\n8,657\n+24.0%\n>+100%\n-24.2%\n>-100%\n13,921\n11,230\n1,835\n580\n666 505 162 - 591\nNote: Total profit before\ntaxation and zakat includes\ninter-segment which are\neliminated on consolidation\nof RM4,783 million for FY\n31 December 2021 and\nRM3,981 million for FY\n31 December 2020.\nANALYSIS BY BUSINESS SEGMENTS\nTotal Malaysia Singapore Indonesia Other Locations\n-16.7%\nNet Operating Income (RM’ million) +2.8%\n25,448\n24,763\n+8.8%\n14,053\n12,914\nGroup Global Banking\n-5.5%\n-6.6% +1.8%\n8,747\n8,173\n-3.7%\n1,528\n1,555\n1,982\n1,908\n144\n120\nNote: Total net operating\nincome includes Head\nOffice & Others of RM361\nmillion for FY 31 December\n2021 and RM552 million\nfor FY 31 December 2020.\nTotal Group Community\nFinancial Services\nGroup Corporate\nBanking & Global\nMarkets\nGroup Investment\nBanking\nGroup Asset\nManagement\nGroup Insurance\nand Takaful\nProfit Before Taxation and Zakat (RM’ million)\nGroup Global Banking\n+0.4%\n+1.6%\n+25.8% +56.9% -6.4%\n+6.7%\n>-100%\n10,887\n8,657\n5,753\n4,008\n3,667 4,071\n504\n538\n34\n-46\n996\n932\nNote: Total profit before\ntaxation and zakat includes\nHead Office & Others of\nRM361 million for FY\n31 December 2021 and\nRM552 million for FY\n31 December 2020.\nTotal Group Community\nFinancial Services\nGroup Corporate\nBanking & Global\nMarkets\nGroup Investment\nBanking\nGroup Asset\nManagement\nGroup Insurance\nand Takaful",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_cash_flow",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 1782209499, investing: -7691540069, financing: -2230590968",
      "golden_context": "Page 133-134:\n\nDelta Electronics (Thailand) Public Company Limited and its subsidiaries\nCash Flow Statement\nFor the year ended 31 December 2021\nDelta Electronics (Thailand) Public Company Limited and its subsidiaries\nCash flow statement\nFor the year ended 31 December 2021\n(Unit: Baht)\nConsolidated financial statements Separate financial statements\n2021 2020 2021 2020\nCash flows from operating activities:\nProfit before tax 6,801,044,832 7,259,437,946 6,743,296,693 7,082,019,497\nAdjustments to reconcile profit before tax to\nnet cash provided by (paid from) operating activities:\nDepreciation 2,368,453,335 2,074,517,773 1,828,271,533 1,598,359,426\nAmortisation 139,398,206 131,801,134 6,405,747 1,662,867\nRecording of allowance for expected credit losses (reversal) 20,233,707 (65,506,435) 6,302,570 27,702,114\nReduction of inventory to net realisable value (reversal) 961,491,370 8,199,938 730,896,286 (121,606,571)\nReversal of the reduction to net realisable value\nof the obsolete and damaged inventories (247,036,392) (185,762,765) (142,054,149) (148,543,957)\nIncrease in provision for long-term employee benefits 97,548,502 84,131,368 67,284,483 53,539,033\nRecording of the increase in provisions 138,443,006 38,316,878 125,407,221 34,869,958\nShare of profit from investments in associated companies - (60,845,793) - Loss on sales of invesments in associated companies - 95,125,078 - (Gain) loss from disposal/writte-off of property, plant and equipment 15,782,638 (2,232,111) 2,787,913 (2,529,852)\nLoss from write-off of other intangible assets 184,068,694 272,305 2 Impairment loss on property, plant and equipment - 388,091 - Unrealised gain on exchange (7,084,209) (35,744,272) (24,070,123) (95,955,115)\nLosses due to flooding 393,386,986 - 393,386,986 Loss from impairment of investments in subsidiary company - - 179,133,057 Interest income (54,139,848) (111,437,887) (13,788,705) (39,084,114)\nInterest expenses 4,027,724 1,167,766 332,869 13,330\nProfit from operating activities before changes in\noperating assets and liabilities 10,815,618,551 9,231,829,014 9,903,592,383 8,390,446,616\nDecrease (increase) in operating assets:\nTrade and other receivables (6,145,192,291) (4,343,980,196) (6,592,776,980) (4,958,900,207)\nInventories (8,027,682,402) (3,481,361,503) (6,023,365,072) (2,520,152,204)\nOther current assets (447,218,026) (293,524,835) (252,679,364) (127,703,710)\nOther non-current assets 11,119,922 15,105,222 (6,959,574) 137,269\nIncrease (decrease) in operating liabilities:\nTrade and other payables 5,557,237,932 6,056,588,355 4,582,652,057 5,389,054,400\nOther current liabilities 124,492,673 82,355,659 (5,780,652) 60,437,065\nProvision for long-term employee benefits (97,284,688) (87,543,418) (37,576,294) (33,002,121)\nProvisions (44,052,584) (27,317,914) (37,900,534) (22,447,248)\nOther non-current liabilities 158,785,028 65,572,118 93,890 271,203\nCash flows from operating activities 1,905,824,115 7,217,722,502 1,529,299,860 6,178,141,063\nCash received from interest income 71,738,056 99,608,269 13,788,705 39,084,114\nCash paid for interest expenses (5,891,911) (1,489,555) (332,869) (13,330)\nCash paid for corporate income tax (189,460,761) (90,909,440) (1,187,143) (1,123,617)\nNet cash flows from operating activities 1,782,209,499 7,224,931,776 1,541,568,553 6,216,088,230\n-\n-\n-\n-\n-\n-\nThe accompanying notes are an integral part of the financial statements.\n131\nAnnual Report 2021 (FORM 56-1 ONE REPORT)\nDelta Electronics (Thailand) Public Company Limited and its subsidiaries\nCash Flow Statement (continued)\nFor the year ended 31 December 2021 Delta Electronics (Thailand) Public Company Limited and its subsidiaries\nCash flow statement (continued)\nFor the year ended 31 December 2021\nConsolidated financial statements Separate financial statements\n2021 2020 2021 2020\nCash flows from investing activities:\nDecrease (increase) in deposits at bank with restrictions 13,707,592 (1,338,417) - Decrease (increase) in fixed deposits with maturity over 3 months 205,249,560 (203,733,962) - Increase in investments in subsidiary company - - (459,822) (3,030,590)\nCash received for sales of investment in associated companies - 457,140,076 - Cash paid for purchase of investment in subsidiary under\ncommon control - (462,838,498) - Acquisition of property, plant and equipment (7,780,423,542) (3,208,365,736) (5,813,141,510) (1,845,978,742)\nProceeds from disposal of property, plant and equipment 28,950,205 14,676,366 24,583,544 7,290,782\nIncrease in investment properties (451,367) (5,207,699) - Increase in land-use rights (110,131,963) - - Increase in other intangible assets (48,440,554) (199,966,000) (2,986,399) (62,741,200)\nNet cash flows used in investing activities (7,691,540,069) (3,609,633,870) (5,792,004,187) (1,904,459,750)\nCash flows from financing activities:\nCash receipt from short-term loans from financial institutions 2,109,615,036 - 2,013,241,000 Repayment of short-term loans from financial institutions (500,000,000) - (500,000,000) Cash receipt from long-term loans from related party 362,635,955 - - Payment of lease liabilities (86,482,633) (85,162,488) (1,482,748) (5,375,966)\nDividend paid (4,116,359,326) (2,245,286,905) (4,116,359,326) (2,245,286,905)\nNet cash flows used in financing activities (2,230,590,968) (2,330,449,393) (2,604,601,074) (2,250,662,871)\nIncrease in translation adjustments 863,373,009 49,705,564 - Net increase (decrease) in cash and cash equivalents\nbefore effect from currency translation (7,276,548,529) 1,334,554,077 (6,855,036,708) 2,060,965,609\nEffect from currency translation of cash and cash equivalents (33,734,286) 43,743,721 (14,791,305) 111,668,516\nNet increase (decrease) in cash and cash equivalents (7,310,282,815) 1,378,297,798 (6,869,828,013) 2,172,634,125\nCash and cash equivalents at beginning of year 13,881,848,304 12,503,550,506 8,405,730,877 6,233,096,752\nCash and cash equivalents at end of year 6,571,565,489 13,881,848,304 1,535,902,864 8,405,730,877\n- - - Supplemental disclosures of cash flows information\nNon-cash transaction\nRight-of-use assets increase under lease agreements 110,631,928 148,440,661 6,128,131 -\n(Unit: Baht)\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\n-\nThe accompanying notes are an integral part of the financial statements.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_company_type",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nDelta Electronics (Thailand) Public Company Limited",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_key_financials",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "key_financials",
      "golden_answer": "Revenue: 84318m, profit: 6703m",
      "golden_context": "Page 173:\n\n31. Segment information\nOperating segment information is reported in a manner consistent with the internal reports\nthat are regularly reviewed by the chief operating decision maker in order to make\ndecisions about the allocation of resources to the segment and assess its performance. The\nchief operating decision maker has been identified as president of the Group.\nFor management purposes, the Group is organised into business units based on its\nproducts and services and have 3 reportable segments such as: Power electronics\nsegment, Infrastructure segment and Automation segment.\nThe chief operating decision maker monitors the operating results of the business units\nseparately for the purpose of making decisions about resource allocation and assessing\nperformance. Segment performance is measured based on operating profit or loss and\ntotal assets and on a basis consistent with that used to measure operating profit or loss\nand total assets in the financial statements.\nThe basis of accounting for any transactions between reportable segments is consistent\nwith that for third party transactions.\nThe following tables present revenue and profit information regarding the Group’s\noperating segments for the years ended 31 December 2021 and 2020.\n(Unit: Million Baht)\nPower\nelectronics\nsegment 1)\nInfrastructure\nsegment 2)\nAutomation\nsegment 3) Others\nConsolidated\nfinancial\nstatements\n2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nRevenue\nSales from external\ncustomers Service income from\n61,350 44,912 19,727 15,660 1,868 1,718 49 51 82,994 62,341\nexternal customers 19 108 958 592 230 93 117 74 1,324 867\nTotal revenue 61,369 45,020 20,685 16,252 2,098 1,811 166 125 84,318 63,208\nSegment profit (loss) 5,339 5,776 Unallocated income (expenses):\n1,537 1,710 (81) (11) (872) (1,118) 5,923 6,357\nGain on exchange rate 1,018 388\nOther income 442 507\nLosses due to flooding (393) Loss on sales of investments in associated companies - (95)\nOther expenses (239) (68)\nShare of profit from investments in associated companies - 61\nFinance income 54 111\nFinance cost (4) (1)\nProfit before income tax expenses 6,801 7,260\nIncome tax expenses for the year (98) (189)\nIncome tax expenses resulting from tax assessments - (19)\nProfit for the year 6,703 7,052",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_revenue",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "revenue",
      "golden_answer": "Revenue: 84318m",
      "golden_context": "Page 173:\n\n31. Segment information\nOperating segment information is reported in a manner consistent with the internal reports\nthat are regularly reviewed by the chief operating decision maker in order to make\ndecisions about the allocation of resources to the segment and assess its performance. The\nchief operating decision maker has been identified as president of the Group.\nFor management purposes, the Group is organised into business units based on its\nproducts and services and have 3 reportable segments such as: Power electronics\nsegment, Infrastructure segment and Automation segment.\nThe chief operating decision maker monitors the operating results of the business units\nseparately for the purpose of making decisions about resource allocation and assessing\nperformance. Segment performance is measured based on operating profit or loss and\ntotal assets and on a basis consistent with that used to measure operating profit or loss\nand total assets in the financial statements.\nThe basis of accounting for any transactions between reportable segments is consistent\nwith that for third party transactions.\nThe following tables present revenue and profit information regarding the Group’s\noperating segments for the years ended 31 December 2021 and 2020.\n(Unit: Million Baht)\nPower\nelectronics\nsegment 1)\nInfrastructure\nsegment 2)\nAutomation\nsegment 3) Others\nConsolidated\nfinancial\nstatements\n2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nRevenue\nSales from external\ncustomers Service income from\n61,350 44,912 19,727 15,660 1,868 1,718 49 51 82,994 62,341\nexternal customers 19 108 958 592 230 93 117 74 1,324 867\nTotal revenue 61,369 45,020 20,685 16,252 2,098 1,811 166 125 84,318 63,208\nSegment profit (loss) 5,339 5,776 Unallocated income (expenses):\n1,537 1,710 (81) (11) (872) (1,118) 5,923 6,357\nGain on exchange rate 1,018 388\nOther income 442 507\nLosses due to flooding (393) Loss on sales of investments in associated companies - (95)\nOther expenses (239) (68)\nShare of profit from investments in associated companies - 61\nFinance income 54 111\nFinance cost (4) (1)\nProfit before income tax expenses 6,801 7,260\nIncome tax expenses for the year (98) (189)\nIncome tax expenses resulting from tax assessments - (19)\nProfit for the year 6,703 7,052",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_revenue_growth",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "revenue_growth",
      "golden_answer": "Revenue: 84318m, prior year: 63208m",
      "golden_context": "Page 173:\n\n31. Segment information\nOperating segment information is reported in a manner consistent with the internal reports\nthat are regularly reviewed by the chief operating decision maker in order to make\ndecisions about the allocation of resources to the segment and assess its performance. The\nchief operating decision maker has been identified as president of the Group.\nFor management purposes, the Group is organised into business units based on its\nproducts and services and have 3 reportable segments such as: Power electronics\nsegment, Infrastructure segment and Automation segment.\nThe chief operating decision maker monitors the operating results of the business units\nseparately for the purpose of making decisions about resource allocation and assessing\nperformance. Segment performance is measured based on operating profit or loss and\ntotal assets and on a basis consistent with that used to measure operating profit or loss\nand total assets in the financial statements.\nThe basis of accounting for any transactions between reportable segments is consistent\nwith that for third party transactions.\nThe following tables present revenue and profit information regarding the Group’s\noperating segments for the years ended 31 December 2021 and 2020.\n(Unit: Million Baht)\nPower\nelectronics\nsegment 1)\nInfrastructure\nsegment 2)\nAutomation\nsegment 3) Others\nConsolidated\nfinancial\nstatements\n2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nRevenue\nSales from external\ncustomers Service income from\n61,350 44,912 19,727 15,660 1,868 1,718 49 51 82,994 62,341\nexternal customers 19 108 958 592 230 93 117 74 1,324 867\nTotal revenue 61,369 45,020 20,685 16,252 2,098 1,811 166 125 84,318 63,208\nSegment profit (loss) 5,339 5,776 Unallocated income (expenses):\n1,537 1,710 (81) (11) (872) (1,118) 5,923 6,357\nGain on exchange rate 1,018 388\nOther income 442 507\nLosses due to flooding (393) Loss on sales of investments in associated companies - (95)\nOther expenses (239) (68)\nShare of profit from investments in associated companies - 61\nFinance income 54 111\nFinance cost (4) (1)\nProfit before income tax expenses 6,801 7,260\nIncome tax expenses for the year (98) (189)\nIncome tax expenses resulting from tax assessments - (19)\nProfit for the year 6,703 7,052",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000579_segments",
      "report_id": "ID_000579",
      "company_name": "Delta Electronics",
      "year": 2021,
      "country": "TH",
      "industry": "Information Technology",
      "question_type": "segments",
      "golden_answer": "Power electronics segment, infrastructure segment, automation segment, other",
      "golden_context": "Page 173:\n\n31. Segment information\nOperating segment information is reported in a manner consistent with the internal reports\nthat are regularly reviewed by the chief operating decision maker in order to make\ndecisions about the allocation of resources to the segment and assess its performance. The\nchief operating decision maker has been identified as president of the Group.\nFor management purposes, the Group is organised into business units based on its\nproducts and services and have 3 reportable segments such as: Power electronics\nsegment, Infrastructure segment and Automation segment.\nThe chief operating decision maker monitors the operating results of the business units\nseparately for the purpose of making decisions about resource allocation and assessing\nperformance. Segment performance is measured based on operating profit or loss and\ntotal assets and on a basis consistent with that used to measure operating profit or loss\nand total assets in the financial statements.\nThe basis of accounting for any transactions between reportable segments is consistent\nwith that for third party transactions.\nThe following tables present revenue and profit information regarding the Group’s\noperating segments for the years ended 31 December 2021 and 2020.\n(Unit: Million Baht)\nPower\nelectronics\nsegment 1)\nInfrastructure\nsegment 2)\nAutomation\nsegment 3) Others\nConsolidated\nfinancial\nstatements\n2021 2020 2021 2020 2021 2020 2021 2020 2021 2020\nRevenue\nSales from external\ncustomers Service income from\n61,350 44,912 19,727 15,660 1,868 1,718 49 51 82,994 62,341\nexternal customers 19 108 958 592 230 93 117 74 1,324 867\nTotal revenue 61,369 45,020 20,685 16,252 2,098 1,811 166 125 84,318 63,208\nSegment profit (loss) 5,339 5,776 Unallocated income (expenses):\n1,537 1,710 (81) (11) (872) (1,118) 5,923 6,357\nGain on exchange rate 1,018 388\nOther income 442 507\nLosses due to flooding (393) Loss on sales of investments in associated companies - (95)\nOther expenses (239) (68)\nShare of profit from investments in associated companies - 61\nFinance income 54 111\nFinance cost (4) (1)\nProfit before income tax expenses 6,801 7,260\nIncome tax expenses for the year (98) (189)\nIncome tax expenses resulting from tax assessments - (19)\nProfit for the year 6,703 7,052",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_cash_flow",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 322424.69 THB million, investing: -385308.23 THB million, financing: 46190.02 THB million, net increase in cash and cash equivalents: -19301.95 THB million",
      "golden_context": "Page 106:\n\n4.3.4 Statement of Cash Flows\nStatement of Cash Flows 2019\n(Audited)\nCash fl ows from operating activities\nProfi t before income taxes 155,080.48 65,116.26 219,658.19\nAdjustment of profi t before income taxes to net cash provided\nby (used in) operating activities:\nUnit: THB million\n2021\n(Audited)\nDepreciation and amortization expenses 133,204.18 139,879.64 146,789.78\nLoss on disposal of assets 31.18 318.04 121.50\n(Gain) loss on disposal of investments 221.28 (1.96) 1,153.21\nGain on change in status of investments - - (503.79)\nGain on bargain purchase (31.48) (125.06) (10,693.78)\nLoss on impairment of assets 291.12 11,907.83 13,287.04\nLoss on impairment of investment (434.02) 9.45 -\nShare of profi t from investments in joint ventures\nand associates (6,007.99) (4,177.72) (9,010.12)\nProvision for employee benefi ts 7,063.16 2,554.02 3,397.66\n(Gain) loss on exchange rates (8,259.06) (3,682.98) 18,977.89\n(Gain) loss on derivatives 3,123.61 3,605.66 (1,703.37)\nUnrealized (gain) loss on fair value of commodity contracts - 837.92 268.86\n(Gain) loss on investments measured at fair value though\nprofi t and loss - 156.28 (52.67)\n(Reversal of) expected credit loss of accounts receivable (77.02) 600.05 (1,603.92)\nWrite-off exploration assets 2,368.68 1,943.21 6,763.91\nReversal of allowance for changes in value of inventories (3,079.36) (468.65) (163.40)\nAllowance for obsolete supplies 453.01 610.67 1,437.61\nDividend income (383.03) (620.39) (457.21)\nInterest income (7,836.97) (3,933.50) (2,522.34)\nFinance costs 27,971.47 28,536.47 28,163.29\nOthers 4.46 223.81 31.23\nProfi t from operating activities before changes\nin operating assets and liabilities 303,703.70 243,289.05 413,339.57\nNet operating assets (increase) decrease 26,662.91 19,155.94 (40,266.64)\nCash received from operating activities 330,366.61 262,444.99 373,072.93\nIncome taxes paid (65,259.23) (43,853.24) (50,648.24)\nNet cash provided by operating activities 265,107.38 218,591.75 322,424.69",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_company_type",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2021\nPTT Public Company Limited",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_key_financials",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Sales and service revenue: 2258818 THB million, EBITDA: 427956 THB million, EPS: 3.79",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and PTT Group,\nnamely exploration and production, liquefi ed natural gas,\npetrochemical and refi ning, oil and retail, power and utilities,\ncoal and service businesses.\nReferences\n• Securities Registrar:\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Dindaeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor:\nRegistered Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\nEY Offi ce Limited\n193/136-137, 33rd Floor, Lake Rajada Offi ce Complex,\nRatchadaphisek Road, Klongtoey,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar:\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2324-9, 66 (0) 2128-2326-9,\n66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\n2019\n2020\n2021\nStatement of Income (THB million)\nSales and Service Revenue 2,219,739 1,615,665 2,258,818\nEarnings before Interest, Taxes, Depreciation\nand Amortization (EBITDA) 288,972 225,672 427,956\nProfi t attribute to Equity Holders of the Company 92,951 37,766 108,363\nStatement of Financial Position (THB million)\nTotal Assets 2,486,965 2,544,183 3,078,019\nTotal Liabilities 1,185,925 1,258,338 1,605,079\nNon-controlling Interests of the Subsidiaries 422,436 403,805 466,244\nEquity Attributable to Owners of the Company 878,604 882,040 1,006,696\nShares or Information about Common Shares\nIssued and Paid up Share Capital (Million Share) 28,563 28,563 28,563\nBook Value per Share (THB) 30.76 30.88 35.24\nEarnings per Share (THB) 3.20 1.32 3.79\nDividend per Share (THB) 2.00 1.00 2.00\nDividend Payout Ratio (%) 62.5 75.8 52.8\nShare Price at the End of the Period (THB) 44.00 42.50 38.00\nAverage Share Price for Full Year (THB) 46.50 37.50 38.97",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_revenue",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Sales and service revenue: 2258818 THB million",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and PTT Group,\nnamely exploration and production, liquefi ed natural gas,\npetrochemical and refi ning, oil and retail, power and utilities,\ncoal and service businesses.\nReferences\n• Securities Registrar:\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Dindaeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor:\nRegistered Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\nEY Offi ce Limited\n193/136-137, 33rd Floor, Lake Rajada Offi ce Complex,\nRatchadaphisek Road, Klongtoey,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar:\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2324-9, 66 (0) 2128-2326-9,\n66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\n2019\n2020\n2021\nStatement of Income (THB million)\nSales and Service Revenue 2,219,739 1,615,665 2,258,818\nEarnings before Interest, Taxes, Depreciation\nand Amortization (EBITDA) 288,972 225,672 427,956\nProfi t attribute to Equity Holders of the Company 92,951 37,766 108,363\nStatement of Financial Position (THB million)\nTotal Assets 2,486,965 2,544,183 3,078,019\nTotal Liabilities 1,185,925 1,258,338 1,605,079\nNon-controlling Interests of the Subsidiaries 422,436 403,805 466,244\nEquity Attributable to Owners of the Company 878,604 882,040 1,006,696\nShares or Information about Common Shares\nIssued and Paid up Share Capital (Million Share) 28,563 28,563 28,563\nBook Value per Share (THB) 30.76 30.88 35.24\nEarnings per Share (THB) 3.20 1.32 3.79\nDividend per Share (THB) 2.00 1.00 2.00\nDividend Payout Ratio (%) 62.5 75.8 52.8\nShare Price at the End of the Period (THB) 44.00 42.50 38.00\nAverage Share Price for Full Year (THB) 46.50 37.50 38.97",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_revenue_growth",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and service revenue: 2258818 THB million, prior year: 1615665 THB million",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and PTT Group,\nnamely exploration and production, liquefi ed natural gas,\npetrochemical and refi ning, oil and retail, power and utilities,\ncoal and service businesses.\nReferences\n• Securities Registrar:\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Dindaeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor:\nRegistered Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250 comprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share\n(as of December 31, 2021)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\nEY Offi ce Limited\n193/136-137, 33rd Floor, Lake Rajada Offi ce Complex,\nRatchadaphisek Road, Klongtoey,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar:\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2324-9, 66 (0) 2128-2326-9,\n66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\n2019\n2020\n2021\nStatement of Income (THB million)\nSales and Service Revenue 2,219,739 1,615,665 2,258,818\nEarnings before Interest, Taxes, Depreciation\nand Amortization (EBITDA) 288,972 225,672 427,956\nProfi t attribute to Equity Holders of the Company 92,951 37,766 108,363\nStatement of Financial Position (THB million)\nTotal Assets 2,486,965 2,544,183 3,078,019\nTotal Liabilities 1,185,925 1,258,338 1,605,079\nNon-controlling Interests of the Subsidiaries 422,436 403,805 466,244\nEquity Attributable to Owners of the Company 878,604 882,040 1,006,696\nShares or Information about Common Shares\nIssued and Paid up Share Capital (Million Share) 28,563 28,563 28,563\nBook Value per Share (THB) 30.76 30.88 35.24\nEarnings per Share (THB) 3.20 1.32 3.79\nDividend per Share (THB) 2.00 1.00 2.00\nDividend Payout Ratio (%) 62.5 75.8 52.8\nShare Price at the End of the Period (THB) 44.00 42.50 38.00\nAverage Share Price for Full Year (THB) 46.50 37.50 38.97",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000582_segments",
      "report_id": "ID_000582",
      "company_name": "PTT Public Company",
      "year": 2021,
      "country": "TH",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "Upstream: Natural gas, petroleum exploration and production, overseas investment. Downstream: international trading; petrochemical and refinery, oil, and retail.",
      "golden_context": "Page 39-40:\n\nUpstream Business Invested through PTT Group\nNatural Gas Business\nPTT operates natural gas-related businesses through its affi liates. For example, the LNG business operates LNG\nvessels, storage and regasifi cation to accommodate Thailand’s LNG import. PTT is expanding investment and business into\nthe gas value chain. The business scope to date includes development and construction of distribution pipeline systems,\ngas transportation. PTT invests through PTT Natural Gas Distribution Co., Ltd. (PTTNGD), Trans Thai-Malaysia (Thailand)\nCo., Ltd. (TTM(T)), Trans Thai-Malaysia (Malaysia) Sdn. Bhd. (TTM(M)), PTT LNG Co., Ltd. (PTTLNG) and Map Ta Phut\nAir Products Co., Ltd. (MAP).\nPetroleum Exploration and Production\nPTT has conducted petroleum exploration and production businesses via PTT Exploration and Production Plc. (PTTEP),\nwhich is PTT Group’s fl agship company in the Exploration and Production. PTTEP operates domestic and international\npetroleum E&P and invested in related businesses to prospect petroleum sources of crude oil and natural gas for\nthe purposes of ensuring Thailand’s energy security and selling petroleum outputs from domestic and regional projects, mostly\nnatural gas, primarily to the domestic market. As of December 31, 2021, PTTEP had more than 40 petroleum exploration and\nproduction projects in 15 countries including Thailand and other countries globally.\nOverseas Investment (Upstream)\nPTT has operated energy businesses overseas to fi nd new energy sources and alternative energy to reinforce Thailand’s\nenergy security and upgrade its own existing businesses by leveraging the knowledge, expertise, and experiences of its\nhuman resources as well as collaborations within its group to expand its investment outside Thailand. PTT invests overseas\nthrough PTT Energy Resources Co., Ltd. (PTTER), PTT Global Management Co., Ltd. (PTTGM) and PTT Green Energy\nPte. Ltd. (PTTGE), with all three wholly owned by PTT. In addition, there is PTT Global LNG Co., Ltd. (PTTGL) in which\nPTT and PTTEP each holds 50% shares.\nREAD\nMORE\nREAD\nMORE\nMore details on Business/ Supply/ Distribution by individual company within the Group\nin which PTT invests are available at www.investor.pttplc.com/en/downloads/annual-reports\nand on PTTEP at www.pttep.com/en/Investorrelations/Regulatorfi lings/Annualfi ling.aspx\n075\n56-1 One Report 2021\nPTT Public Company Limited\nSection 1 Business Operations and Performance\nDownstream Business Group\nPTT’s downstream business is divided into two business segments.\nDownstream Business Group Structure\nDownstream Business Group\nInternational Trading Business\n• Crude oil and condensate\n• Refi ned oil product and LNG\n• Petrochemical product, chemical and solvent\n• Derivatives\n• International Chartering\nOperated through PTT Group\n- PTT International Trading Pte. Ltd. (PTTT)\n- PTT International Trading London Ltd.\n(PTTT LDN)\n- PTT International Trading USA Inc.\n(PTTT USA)\nPetrochemical and Refinery,\nOil and Retail Business\nOperated through PTT Group\n• Petrochemical and Refi nery Business\n- PTT Global Chemical Plc. (GC)\n- Thai Oil Plc. (TOP)\n- IRPC Plc. (IRPC)\n- PTT Tank Terminal Co., Ltd. (PTT TANK)\n• Oil and Retail Business\n- PTT Oil and Retail Business Plc. (OR)\nPTT-Operated Downstream Business\nInternational Trading Business\nInternational Trading Business Unit engages in fully integrated international trading ranging from supply procurement,\nimport, export, to international trading of assorted products, namely crude oil, condensate, liquefi ed natural gas, liquefi ed\npetroleum gas, refi ned product, petrochemical, solvent, and chemical, together with price risk management (hedging)\nservices and international chartering services. Its core objective is to enhance energy security while adding value to Thailand’s\nsurplus products in parallel with trading platform expansion to all regions around the world and raising international trading\ncompetitiveness for PTT Group.\n3. Driving Business for Sustainability\n2. Risk Management\n• Olefins group of products such as Propylene,\n• Feedstock and by product such as Naphtha, Pygas\n• Liquefi ed Natural Gas (LNG)\n• Natural Gasoline (NGL)\n• Liquefi ed Petroleum Gas (LPG)\n56-1 One Report 2021\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection1\nBusiness Operations and Performance\n1. Structure and Business Operations of PTT Group\n2. Risk Management\n3. Driving Business for Sustainability\n4. Management’s Discussion and Analysis (MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n076\n56-1 One Report 2021\nPTT Public Company Limited\nThe business unit’s performance hinges on its pursuit of\ngrowth opportunities in out-out trading activities. It therefore\nformed affiliates and representative offices in trading\nhubs around the world, including Singapore, Abu Dhabi\n(the United Arab Emirates), Shanghai (China), London\n(the United Kingdom), and Houston (the United States of\nAmerica). As a result, the business unit engages trading\ntransactions with various partners covering around the\nworld. Since international trading transactions carrying high\nvalues activities, the business unit applied the risk control\nsystem employed by the world-class trading houses as its\nbest practices. In addition, a committee is in place to set\nrisk management policies, steer assorted risk management\ntasks and clearly divide the work structure and roles in\nthe system as Front-Mid-Back for checks and balances.\nDigital technology is also applied to develop systems for\noperation and transaction risk controls to enable quick\nand transparent transactions along with an effi cient audit.\nNature of Merchandises and Products\nInternational Trading Business deals in 4 categories of\nMerchandises and Products\n1) Crude oil\nCrude oil is hydrocarbon composite. Qualify of crude\noil differs depending on types of organic compounds from\nits origin and other substances, and this is one of the key\nlimitations and key consideration for refi nery. Thailand has\na number of crude oil fi elds but the quantity extracted and\nused can meet only 20% of overall demand from refi neries\nin Thailand. Therefore, it is necessary to import crude oils,\nmostly from the Middle East such as Saudi Arabia, United\nArab Emirates, Qatar, Oman, from the Far East including\nAustralia, Malaysia, Brunei, Vietnam and Indonesia, and from\nother sources in Africa, Americas.\n2) Condensate\nCondensate is natural gas that is present as gaseous\ncomponents in underground under high pressure but\nliquefi es once brought up to the surface of the earth, and it is\nconsidered as a by product of natural gas production.\nOver 60% of condensate used in Thailand is from domestic\ngas production, with the rest imported. Refi neries process\ncondensate directly or blend with crude oil for refi ning.\nProducts yielded will have the same property as those refi ned\nusing light crude.\nSection 1 Business Operations and Performance\n3) Refined Oil Product & Liquefied Natural Gas\n• Refi ned oil product such as gasoline, kerosene,\naviation fuel, gasoil, fuel oil, low sulfur waxy\nresidue.\n• Liquefi ed Natural Gas (LNG)\n4) Petrochemical Product, Chemical and Solvent\nC4 Raffi nate, Butane\n• Aromatics such as Benzene, Toluene, Mixed Xylene,\nParaxylene, Cyclohexane, Stylene Monomer\n• Chemicals such as Methyl tert-butyl e",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_cash_flow",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 191700 THB million, investing: -186690 THB million, financing: 50668 THB million",
      "golden_context": "Page 104:\n\nm TOP, IRPC and GC.\nEquity\nAs of December 31, 2022, PTT Group had total shareholders’ equity of THB 1,533,693 million, increasing by\nTHB 60,753 million or 4.1% from December 31, 2021 as PTT Group performance reported 2022 net income amounting to\nTHB 91,175 million offset with dividend payment from the operating results of the second half of 2021 amounting to\nTHB 0.80 per share and the first half of 2022 amounting to THB 1.30 per share which total amount is approximately\nTHB 60,000 million. Additionally, non-controlling interests increased by THB 14,859 million mainly from higher net income\nof subsidiaries.\nLiquidity\nFor the year-ended December 31, 2022, PTT Group liquidity had net increase in cash and cash equivalents amounting to\nTHB 27,324 million. There was cash and cash equivalents at the beginning of the period of THB 312,730 million. As a result,\ncash and cash equivalents at the end of the period was THB 340,054 million. Details of cash flow by activities are as follows:\nUnit: THB million\nCash and cash equivalents at the end of the year 340,054\nPTT Group\nNet cash provided by operating activities 191,700\nNet cash used in investing activities (186,690)\nNet cash provided by financing activities 50,668\nEffects of exchange rates on cash and cash equivalents 697\nExchange differences on translation (20,287)\nCash and cash equivalents classified as held for sale (8,764)\nNet increase in cash and cash equivalents during the year 27,324\nCash and cash equivalents at the beginning of the year 312,730\nNet cash provided by operating activities of THB 191,700 million was derived from THB 212,562 million of profit before\nincome taxes, adjusted to net cash provided by (used in) operating activities. The increase in net cash flow from operating\nactivities mainly resulted from THB 167,330 million of depreciation and amortization expenses, THB 37,091 million of finance\ncosts, THB 12,304 million of loss on impairment of assets, THB 11,649 million of loss on foreign exchange rate, THB 10,243\nmillion of loss on derivatives, THB 7,920 million of unrealized loss on fair value of commodity contracts. The decrease in net\ncash flow from operating activities mainly resulted from THB 5,849 million of share of profit from investments in joint ventures\nand associates, and the change in net operating assets resulting in the decrease in cash flow of THB 178,970 million while\nincome taxes paid of THB 85,482 million.\nNet cash used in investing activities was THB 186,690 million mainly resulted from the following:\n•\nThe cash outflow of investments in property, plant and equipment, investment property, intangible assets, and exploration\nand evaluation assets amounting to THB 171,813 million, mainly due to additional investment in exploration and\nproduction assets in G1/61 Project, G2/61 Project, Zawtika Project, Bongkot Project, and S1 Project of PTTEP, additional\ninvestment of TOP in CFP and expand the capacity of electricity and steam of TOP SPP Co., Ltd. (TOP SPP), GC’s\nOlefins I4/2 Modification project, the 7th Gas Separation Plant, Bang Pakong - South Bangkok power plant transmission\npipeline project, the 5th transmission pipeline project of PTT, GSP Logistics Management, and LNG receiving terminal\nat Nong Fab of PTT LNG Co., Ltd. (PTTLNG).\n•\nThe cash outflow of business acquisition and long-term investments amounting to THB 60,905 million, mainly from\nCATL of PTTGM, GPSC’s investment in CI Changfang and CI Xidao, as well as the purchasing additional shares in VNT\nof GC.\n•\nThe cash inflow from short-term investment in financial assets totaling THB 37,031 million, mainly from maturity of\nfixed deposits of OR and GC.\nNet cash provided by financing activities was THB 50,668 million, mainly from the following:\n•\nThe net cash inflow of short-term and long-term loans amounting to THB 171,139 million mainly from GC, PTT, TOP\nand IRPC.\n•\n•\nDividend payment amounting to THB 85,923 million mainly from PTT, PTTEP and GC.\nFinance costs paid amounting to THB 36,198 million mainly from GC, TOP, PTT and PTTEP.\nManagements of the COVID-19 Pandemic Situation\nThe COVID-19 pandemic and government measures have affected the petroleum and petrochemical businesses. PTT\nGroup has risk management in place for both short and long-term crises, and has consistently maintained the Group’s\ncompetitiveness and strength through the PTT Group Vital Center which includes the following by PTT COVID-19 Monitoring\nand Surveillance Center (Palungjai Center) manages personnel’s physical and mental safety. Stringent preventive and control\nmeasures are in place for COVID-19 infection together with regular provision of news and information along with easy access\nto the hub, including vaccination to build immunity for employees and their families by continuously monitoring the number\nof infected people and people at risk, continuously announcing measures and guidelines from relevant government agencies\nto determine measures and guidelines to prevent and reduce the risk of infection in PTT’s work areas, including compliance\nwith such universal preventions as wearing a mask at all times, washing or cleaning han",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_company_type",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\ne Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_key_financials",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Sales and Service Revenue: 3367203 THB million, EBITDA: 491288 THB million, EPS: 3.2",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and\nPTT Group, namely exploration and production, liquefied\nnatural gas, petrochemical and refining, oil and retail,\npower and utilities, coal and service businesses.\nRegistered Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\n2020\n2021\nReferences\n•\nSecurities Registrar\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Din Daeng, Din Daeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor\nEY Office Limited\n193/136-137, 33rd Floor, Lake Rajada Office Complex,\nRatchadaphisek Road, Klong Toei, Klong Toei,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2323-4,\n66 (0) 2128-2326-9, 66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\nStatement of Income (THB million)\nSales and Service Revenue Earnings before Interest,\nTaxes, Depreciation and Amortization (EBITDA) Profit attribute to Equity Holders of the Company 1,615,665 225,672 37,766 2,258,818 427,956 108,363 Statement of Financial Position (THB million)\nTotal Assets Total Liabilities Non-controlling Interests of the Subsidiaries Equity Attributable to Owners of the Company 2,544,183 1,258,338 403,805 882,040 3,071,384 1,598,444 466,244 1,006,696 Shares or Information about Common Shares\nIssued and Paid up Share Capital (Million Shares) Book Value per Share (THB) Earnings per Share (THB) Dividend per Share (THB) Dividend Payout Ratio (%) Share Price at the End of the Period (THB) Average Share Price for Full Year (THB) 28,563 30.88 1.32 1.00 75.8 42.50 37.50 28,563 35.24 3.79 2.00 52.8 38.00 38.97 2022\n3,367,203\n491,288\n91,175\n3,415,632\n1,881,939\n481,102\n1,052,591\n28,563\n36.85\n3.20\n2.00\n62.5\n33.25\n36.38",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_revenue",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Sales and Service Revenue: 3367203 THB million",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and\nPTT Group, namely exploration and production, liquefied\nnatural gas, petrochemical and refining, oil and retail,\npower and utilities, coal and service businesses.\nRegistered Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\n2020\n2021\nReferences\n•\nSecurities Registrar\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Din Daeng, Din Daeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor\nEY Office Limited\n193/136-137, 33rd Floor, Lake Rajada Office Complex,\nRatchadaphisek Road, Klong Toei, Klong Toei,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2323-4,\n66 (0) 2128-2326-9, 66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\nStatement of Income (THB million)\nSales and Service Revenue Earnings before Interest,\nTaxes, Depreciation and Amortization (EBITDA) Profit attribute to Equity Holders of the Company 1,615,665 225,672 37,766 2,258,818 427,956 108,363 Statement of Financial Position (THB million)\nTotal Assets Total Liabilities Non-controlling Interests of the Subsidiaries Equity Attributable to Owners of the Company 2,544,183 1,258,338 403,805 882,040 3,071,384 1,598,444 466,244 1,006,696 Shares or Information about Common Shares\nIssued and Paid up Share Capital (Million Shares) Book Value per Share (THB) Earnings per Share (THB) Dividend per Share (THB) Dividend Payout Ratio (%) Share Price at the End of the Period (THB) Average Share Price for Full Year (THB) 28,563 30.88 1.32 1.00 75.8 42.50 37.50 28,563 35.24 3.79 2.00 52.8 38.00 38.97 2022\n3,367,203\n491,288\n91,175\n3,415,632\n1,881,939\n481,102\n1,052,591\n28,563\n36.85\n3.20\n2.00\n62.5\n33.25\n36.38",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_revenue_growth",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and Service Revenue: 3367203 THB million, prior year: 2258818 THB million",
      "golden_context": "Page 5:\n\nFinancial Highlights\nName PTT Public Company Limited\nAbbreviation PTT\nRegistered Number 0107544000108\nType of Business\nThe Company’s operated businesses consist of natural gas,\ngas transmission, international trading, new business\nand infrastructure business; the rest are invested through\nsubsidiaries joint arrangements and associates, and\nPTT Group, namely exploration and production, liquefied\nnatural gas, petrochemical and refining, oil and retail,\npower and utilities, coal and service businesses.\nRegistered Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nIssued and Fully Paid-up Capital\nTHB 28,562,996,250\ncomprising 28,562,996,250 ordinary shares\nwhose value is THB 1 per share (as of December 31, 2022)\nHead Office\n555 Vibhavadi Rangsit Road, Chatuchak,\nBangkok 10900, Thailand\nTelephone: 66 (0) 2537-2000\nFax: 66 (0) 2537-3498-9\nWebsite: www.pttplc.com\nCorporate Communications\nTelephone: 66 (0) 2537-2150-1\nFax: 66 (0) 2537-2171\nE-mail: pttcorporatecommu@pttplc.com\nInvestor Relations\nTelephone: 66 (0) 2537-3518-9\nFax: 66 (0) 2537-3948\nE-mail: ptt-ir@pttplc.com\nOffice of the President\nTelephone: 66 (0) 2537-3855\nFax: 66 (0) 2537-3883, 66 (0) 2537-3887\nE-mail: corporatesecretary@pttplc.com\n2020\n2021\nReferences\n•\nSecurities Registrar\nThailand Securities Depository Company Limited\n93, 14th Floor, The Stock Exchange of Thailand Building,\nRatchadaphisek Road, Din Daeng, Din Daeng,\nBangkok 10400, Thailand\nTelephone: 66 (0) 2009-9999\n• Auditor\nEY Office Limited\n193/136-137, 33rd Floor, Lake Rajada Office Complex,\nRatchadaphisek Road, Klong Toei, Klong Toei,\nBangkok 10110, Thailand\nTelephone: 66 (0) 2264-9090\nFax: 66 (0) 2264-0789\n• THB Debentures Registrar\nSiam Commercial Bank Public Company Limited\nRegistration 1, Markets Operations Division,\n15th Floor, North Wing, G Tower Grand Rama IX,\n9 Rama IX Road, Huai Khwang, Huai Khwang,\nBangkok 10310, Thailand\nTelephone: 66 (0) 2128-2323-4,\n66 (0) 2128-2326-9, 66 (0) 2128-3540\nFax: 66 (0) 2128-4625\nBank of Ayudhya Public Company Limited\nSecurity Services Operations Department,\nAA Floor, 1222 Rama III Road, Bang Phongphang,\nYan Nawa, Bangkok 10120, Thailand\nTelephone: 66 (0) 2296-2000 ext. 50604\nFax: 66 (0) 2683-1302\n• Legal Consultant for Debenture Issuance\nand Sales Offering\nAllen & Overy (Thailand) Company Limited\n23rd Floor, Sindhorn Tower III, 130-132 Wireless Road,\nLumpini, Pathumwan, Bangkok 10330, Thailand\nTelephone: 66 (0) 2263-7600\nFax: 66 (0) 2263-7699\nStatement of Income (THB million)\nSales and Service Revenue Earnings before Interest,\nTaxes, Depreciation and Amortization (EBITDA) Profit attribute to Equity Holders of the Company 1,615,665 225,672 37,766 2,258,818 427,956 108,363 Statement of Financial Position (THB million)\nTotal Assets Total Liabilities Non-controlling Interests of the Subsidiaries Equity Attributable to Owners of the Company 2,544,183 1,258,338 403,805 882,040 3,071,384 1,598,444 466,244 1,006,696 Shares or Information about Common Shares\nIssued and Paid up Share Capital (Million Shares) Book Value per Share (THB) Earnings per Share (THB) Dividend per Share (THB) Dividend Payout Ratio (%) Share Price at the End of the Period (THB) Average Share Price for Full Year (THB) 28,563 30.88 1.32 1.00 75.8 42.50 37.50 28,563 35.24 3.79 2.00 52.8 38.00 38.97 2022\n3,367,203\n491,288\n91,175\n3,415,632\n1,881,939\n481,102\n1,052,591\n28,563\n36.85\n3.20\n2.00\n62.5\n33.25\n36.38",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000583_segments",
      "report_id": "ID_000583",
      "company_name": "PTT Public Company",
      "year": 2022,
      "country": "TH",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "Upstream: Petroleium exploration and production; gas; coal; downstream: oil, international trading; petrochemical and refinery; new business and infrastructure",
      "golden_context": "Page 100-103:\n\nSegmentation Performance of PTT Group\nThe details of revenue, Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) and operating income by\nsegmentation of 2022 are as follows.\nFigure 2\nSegmentation\nPerformance of\nUnit: THB million\nPTT Group Revenue EBITDA Operating Income\nGas*\n3% 1%\n12%\n3% 3%\n13%\n1% 4%\n13%\nInternational Trading*\n26%\n3%\n20%\n22%\n4%\nOil and Retail*\n4%\n5%\nExploration & Production\nPetrochemical & Refinery\n3,367,203\n491,288\n323,958\nNew Business & Infrastructure\nOthers**\n6%\n38%\n52%\n53%\nRemarks:\n14%\n* Including PTT own operation\n* Including PTT own operation\nand PTT’s affiliates\nand PTT’s affiliates\n** Including coal and others\n** Including coal and others\nUpstream Petroleum and Gas Business Group\nPetroleum Exploration and Production Business:\nPTT Exploration and Production Plc. (PTTEP)\n2021 2022\n% Inc.\n(Dec.)\nAverage selling price (USD/BOE) 43.5 53.4 22.8\nAverage sales volume (BOED) 416,141 468,130 12.5\nIn 2022, sales revenue of PTTEP was THB 331,350 million, increasing by THB 112,282 million or 51.3% from 2021 as\nthe average selling price increased by 22.8% from USD 43.5 per BOE in 2021 to USD 53.4 per BOE in 2022. In addition,\nthe average sales volume increased by 12.5% from 416,141 BOED in 2021 to 468,130 BOED in 2022 primarily from first\nproduction of G1/61 Project since the end of April 2022, full year production of Oman Block 61 Project, as well as Arthit\nProject due to higher gas nomination from buyer.\nEBITDA in 2022 was THB 253,973 million, increasing by THB 89,608 million or 54.5% from 2021 mainly due to\nan increase in sales revenue as aforementioned. However, operating expenses increased primarily from first production of\nG1/61 and G2/61 Projects, together with Malaysia Project due to higher sales volume and maintenance activities. While,\ndepreciation, depletion and amortization increased primarily from first production of G1/61 and Malaysia Projects which had\nhigher sales volume, offset with the decrease in sales volume of Bongkot Project. In addition, petroleum royalties increased\nprimarily from higher revenue from sales in Thailand and Malaysia. As a result, the operating income in 2022 was THB 171,031\nmillion, increasing by THB 76,728 million or 81.4% from 2021.\n56-1 One Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations of\nPTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information and Other Important\nInformation\nInformation\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2022\n199\n198 56-1 One Report 2022\nPTT Public Company Limited\nSection 1\n4. Management’s Discussion and Analysis (MD&A) PTT Public Company Limited\nBusiness Operations and Performance\nSection 1\nBusiness Operations and Performance\n4. Management’s Discussion and Analysis (MD&A)\nThe overall performance of Exploration and Production business increased following the increase in operating income as\naforementioned, despite income taxes increased by THB 30,767 million mainly from projects in Thailand and Oman following\nhigher earnings before tax, as well as in 2022 there were loss recognition of non-recurring items approximately THB 13,000\nmillion. While, in 2021 there were gain approximately THB 100 million (Details as the majority of non-recurring items after\ntax (PTT’s portion) table as aforementioned).\nGas Business Group\nThe details of all product sales volume from GSPs are as follows:\nUnit: ton 2021 2022\n% Inc.\n(Dec.)\nLPG 3,113,277 3,301,907 6.1\nEthane 2,181,272 1,752,287 (19.7)\nPropane 953,395 1,139,217 19.5\nNGL 617,011 504,133 (18.3)\nPentane 43,057 48,803 13.3\nTotal 6,908,012 6,746,347 (2.3)\nThe details of reference product prices of GSPs are as follows:\nUnit: USD per ton 2021 2022\n% Inc.\n(Dec.)\nLPG1/ 639 736 15.2\nLDPE2/ 1,516 1,428 (5.8)\nLLDPE2/ 1,200 1,208 0.7\nHDPE2/ 1,181 1,203 1.9\nPropane 648 737 13.7\nRemarks:\n1/ Global Gas Price (Contract Price Saudi Aramco) as a reference for selling prices of petrochemical customers, LPG calculated from\nthe proportion of Propane and Butane by 50 : 50\n2/ South East Asia - Spot Price\nIn 2022, gas business reported sales revenue of THB 708,852 million, increasing by THB 244,814 million or 52.8%. This\nresulted mainly from S&M business, the sales revenue of S&M business increased due to the higher average selling price following\npool gas price. In addition, the average selling price for industrial customers increased from the higher average fuel oil referenced\nprices as well as the implementation of new procedure which using the selling price to Small Power Producer (SPP) in the previous\nmonth as referenced price instead if the fuel oil referenced selling price below those SPP price since August 2022. However, average\nsales volume (calculated at heating value of 1,000 BTU per cubic feet) decreased by 247 MMSCFD or 5.6% from 4,437 MMSCFD\nin 2021 to 4,190 MMSCFD in 2022 mainly from lower supply of gulf gas and maintenance shutdown of some production fields\nresulted in the electrical customer sector adjustment of fuel management plan by calling the higher electricity generation from\nhydropower plants following the higher water level in 2022. Moreover, some power plants have operated with diesel instead of natural gas.\nIn addition, GSP gas utilization decreased following the turndown of GSP’s production to in line with lower output of gulf gas.\nSales revenue of GSP business rose due to the higher average selling price of almost products in accordance with\nthe higher petrochemical referenced prices despite lower GSP’s sales volume (including NGL derived from Dew Point Control\nunits) from 6,908,012 tons in 2021 to 6,746,347 tons in 2022 or decreased by 2.3%, mainly from Ethane due to major\nplanned maintenance shutdown of Ethane Separation Plant (ESP) and the turndown of GSP’s production to in line with lower\nsupply of gulf gas together with lower demand of petrochemical customer following the economic situation.\nIn addition, sales revenue of Transmission Pipeline business decreased mainly from revised gas pipeline tariff since\nAugust 2022 onwards.\nIn 2022, EBITDA of gas business was reported at THB 61,207 million, decreasing by THB 25,290 million or 29.2%.\nThe operating income was reported at THB 42,905 million, decreasing by THB 24,863 million or 36.7%. This was mainly\nfrom industrial customers as the gas cost increased following the pool gas price and the incremental costs according\nto Energy Pool Price (EPP) policy. The gas cost increased in the higher extent compared to the increase in average\nselling price, resulting in the decrease in gross margin of S&M. However, in 2022 there was the shortfall discount and\ncompensation approximately by THB 3,400 million. In 2021, there was the return of Take or Pay from Myanmar gas\nsupply offset with shortfall approximately by THB 1,000 million. Performance of NGV business also decreased from\nhigher gas cost together with NGV retail price which has been capped for the taxi in Bangkok Metropolitan Area (NGV for\nthe Giving Breath Project) at THB 13.62 per kilogram from November 1, 2021 to March 15, 2023, and the NGV retail\nprice for other vehicles have been capped at THB 15.59 per kilogram from November 16, 2021 to September 15, 2022\nand the price increased by THB 1 per kilogram to THB 16.59 per kilogram from September 16, 2022 to December 15, 2022\nand THB 17.59 per kilogram since December 16, 2022 onwards to easing Thai people’s burden on energy price. However\ngross profit of GSP business rose from higher average selling price of all products in accordance with the referenced prices\ndespite the decrease in sales volume and higher gas cost in line with higher gulf gas price.\nCoal Business\n2021 2022\n% Inc.\n(Dec.)\nNewcastle index price (USD/Ton) 137.3 360.2 > 100.0\nAverage selling price (USD/Ton) 83.0 156.4 88.4\nCash cost (USD/Ton) 49.2 74.7 51.8\nSales volume (million tons) 6.1 6.1 -\nIn 2022, sales revenue of Coal business was THB 33,599 million, increasing by THB 16,616 million or 97.8% compared\nwith 2021 mainly due to the increase in average selling price by USD 73.4 per ton or 88.4% from USD 83.0 per ton in 2021\nto USD 156.4 per ton in 2022 following the increase in Newcastle referenced price which increase more than 100.0% while\nsales volume was close to 2021 following the production plan.\nEBITDA in 2022 was THB 18,347 million, increasing by THB 11,189 million or more than 100.0% from 2021 mainly\ndue to the increase in gross profit following higher average selling price despite higher mining cost following higher coal and\nfuel prices, higher royalty rate, and the farther Over Burden distance. Operating income in 2022 was THB 16,509 million,\nincreasing by THB 11,105 million or more than 100.0% in accordance with the increase in EBITDA, resulting in an increase\nin overall performance.\n56-1 One Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations of\nPTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information and Other Important\nInformation\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2022\n200 56-1 One Report 2022\n201\nPTT Public Company Limited\nSection 1\n4. Management’s Discussion and Analysis (MD&A) PTT Public Company Limited\nBusiness Operations and Performance\nDownstream Petroleum Business Group\nOil Business Group\n% Inc.\n(Dec.)\n2021 2022\nAverage Sales Volume* (Unit: million liters) 23,145 26,846 16.0\nAverage Selling Prices (Unit: USD per barrel)\nGasoline 80.3 115.2 43.5\nAviation 75.1 126.6 68.6\nDiesel 76.0 130.6 71.8\nRemark:\n* The average sales volume of domestic oil segment only\nIn 2022, sales revenue of Oil and Retail business group was THB 791,745 million, increasing by THB 277,850 million\nor 54.1% from 2021 mostly due to higher average selling price following higher global oil price. In addition, the overall sales\nvolume increased by 3,701 million liters or 16.0% from 23,145 million liters or equivalent to 398,851 barrels per day in 2021\nto 26,846 million liters or equivalent to 462,629 barrels per day in 2022, mainly from diesel, aviation, and fuel oil, as the\nrecovery of travel sector and service sector. Additionally, sales volume of fuel oil and diesel increased from power plant sector\nwhich switched to use diesel instead of natural gas, and increased from international marine vessel sector. Non-oil business’\nrevenue increased from the increasing sales volume which resulted from expanding food and beverage stores network.\nEBITDA in 2022 was THB 20,962 million, slightly increased from 2021 by THB 155 million or 0.7% from increasing Non-oil\nbusiness’s gross margin according to higher sales and services revenue of food and beverage business as well as other retail\nbusiness. While EBITDA of Oil business decreased from lower gross margin following lower overall average gross margin per\nliter mainly from averge cost of gasoline and diesel which increases from importing the products in 4Q2022 during domestic\nmain oil refinery turnaround period. The operating income in 2022 was THB 14,614 million, decreasing by THB 285 million\nor 1.9% in line with lower EBITDA of Oil business. As a result, the overall performance of Oil and Retail business has declined\nslightly from the previous year.\nInternational Trading Business Group\nUnit: million liters % Inc.\n(Dec.)\n2021 2022\nAverage sales volume 79,134 127,082 60.6\nSection 1\nBusiness Operations and Performance\n4. Management’s Discussion and Analysis (MD&A)\nSales revenue of International Trading business in 2022 was THB 2,172,566 million, increased by THB 1,026,002 million\nor 89.5% from 2021 due to higher sales volume by 47,948 million liters or 60.6% from 79,134 million liters or equivalent\nto 1,363,694 barrels per day in 2021 to 127,082 million liters or equivalent to 2,189,968 barrels per day in 2022. This was\nmainly from the higher volume of LNG imports to fulfill lower supply of gulf gas and LPG imports as a result of higher customer\ndemand as well as higher volume of crude imports for domestic refineries following the higher demand and the higher volume\nof crude and refined product out-out tradings as a result of the economic activities recovery from the reopening of the countries\nin many regions around the world. In addition, product selling price increased following the rise in global oil prices.\nEBITDA, adjusted by the impact from foreign exchange rate and derivatives, in 2022 was THB 8,735 million, increased\nby THB 3,299 million or 60.7% primarily from the higher margin per unit of international crude and refined product following\nproduct spread as well as the increase in sales volume as aforementioned. The operating income, adjusted by the impact\nfrom foreign exchange rate and derivatives in 2022 was THB 7,781 million, increased by THB 2,549 million or 48.7%.\nPetrochemical and Refinery Business Group\n2021 2022\n% Inc.\n(Dec.)\nMarket GRM 2.9 10.7 > 100.0\nUnit: USD per barrel Inventory Gain (Loss) excl. NRV 3.3 0.0 (100.0)\nHedging Gain (Loss) (1.1) (5.8) < (100.0)\nAccounting GRM 5.1 4.9 (3.9)\nRefinery Utilization Rate (%) 95.2 94.1 (1.1)\nRemark:\n* From 3 Refineries: TOP, GC and IRPC\nUnit: USD per ton % Inc.\n(Dec.)\n2021 2022\nOlefins\nNaphtha (MOPJ) 646 785 21.5\nHDPE 1,181 1,203 1.9\nLDPE 1,516 1,428 (5.8)\nLLDPE 1,200 1,208 0.7\nPP 1,321 1,206 (8.7)\nAromatics\nCondensate 596 830 39.3\nPX (TW) 859 1,103 28.4\nPX (TW) – Condensate 263 273 3.8\nBZ 914 1,028 12.5\nBZ – Condensate 318 198 (37.7)\n56-1 One Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations of\nPTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information and Other Important\nInformation\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2022\n202 56-1 One Report 2022\n203\nPTT Public Company Limited\nSection 1\n4. Management’s Discussion and Analysis (MD&A) PTT Public Company Limited\nBusiness Operations and Performance\nSection 1\nBusiness Operations and Performance\nIn 2022, sales revenue of Petrochemical and Refining business was THB 1,473,678 million, increasing by THB 436,402\nmillion or 42.1% primarily due to Refinery business from the increase in average selling price following crude oil price, overall\nsales volume also increased following economic recovery.\nThe sales revenue of petrochemical business also increased from Olefins and Aromatics business despite the decrease in\nsales volume due to production plan adjustment aligning with market conditions and refinery major turnaround in 4Q2022.\nEBITDA of Petrochemical and Refining business in 2022 was THB 109,719 million decreasing by THB 11,014 million or\n9.1% from THB 120,733 million in 2021. There was operating income of THB 66,181 million in 2022, decreasing by\nTHB 15,607 million or 19.1% compared to THB 81,788 million in 2021 details as follows:\n•\nPetrochemical performance decreased mainly from both Olefins business and Aromatics business due to the decrease\nin most of product spread and the decrease in sales volume as aforementioned.\n•\nHowever, Refinery performance increased due to the higher Market GRM from USD 2.9 per barrel in 2021 to USD\n10.7 per barrel in 2022 mainly from the increase in most of petroleum product spreads as well as the increase of sales\nvolume. However, there is lower stock gain in this year.\nNew Business and Infrastructure Group\n% Inc.\n(Dec.)\n2021 2022\nPower Sales Volume (GWh) 20,148 21,531 6.9\nSteam Sales Volume (thousand tons) 15,090 14,509 (3.9)\nIn 2022, sales revenue of New Business and Infrastructure group was THB 148,424 million, increased by THB 67,162\nmillion or 82.6%. This was mainly from GPSC which has higher revenue of SPP power plants due to the increase in average\nelectricity and steam selling prices, together with higher EP revenue of IPP power plants due to higher dispatch sales volume\nto EGAT. In addition, PTTGM started to recognize revenue from pharmaceutical business of LOTUS since April 2022.\nEBITDA in 2022 was THB 16,392 million, decreased by THB 4,526 million or 21.6% mainly from lower gross profit of\nGPSC following lower gross profit of SPP power plants. This was due to the significant increase in natural gas and coal costs,\nresulting in a decrease of profit margin on electricity sales to industrial customers, while Ft has yet to adequately catch up\nwith the rising fuel cost. Nevertheless, IPP power plants’ gross profit improved from using diesel as alternative fuel instead\nof natural gas. In this regard, in 2022, operating income was THB 3,440 million, decreased by THB 6,742 million or 66.2%\nin accordance with lower EBITDA. As a result, the overall performance of New Business and Infrastructure group decreased\nmainly from lower performance of GPSC, despite recognized higher share of profit from Xayaburi Power Plant due to higher\nwater level compared to 2021.\n4. Management’s Discussion and Analysis (MD&A)\nThe Analysis of PTT Group Consolidated Financial Position as of December 31, 2022 Compared with\nDecember 31, 2021\nFigure 3\nThe Analysis of PTT\nGroup Consolidated\nFinancial Position\nAssets\nCash & Short-term Investment\nAR & Other Current Assets\nOthers Non-current Assets\nProperty, Plant and Equipment\nLiabilities & Equity\nOther Liabilities\nInterest-bearing Debt\n(including Current Portion)\nEquity\nUnit: THB million\n4,000,000\n3,500,000\n3,000,000\n2,500,000\n2,000,000\n1,500,000\n1,000,000\n500,000\n0\n3,415,632 3,415,632\n+11.2%\n3,071,384 352,654\n3,071,384\n688,345\n361,637\n688,208\n648,619\n493,617\n1,193,594\n949,825\n779,253\n875,440\n1,436,877\n1,499,330\n1,472,940\n1,533,693\nDec. 31,\n2021\nDec. 31,\n2022\nDec. 31,\n2021\nDec. 31,\n2022\nAssets Liabilities & Equity\nAssets\nAs of December 31, 2022, total assets of PTT Group were THB 3,415,632 million, increasing by THB 344,248 million or\n11.2% compared with December 31, 2021 from following:\n•\nCash and cash equivalents and short-term investments decreased by THB 8,983 million or 2.5% mainly from\nPTT Group’s investing activities.\n•\nAR & Other Current Assets increased by THB 194,591 million or 39.4% mainly from the following:\n•\nInventories increased by THB 51,525 million due to overall higher price and inventory level mainly from TOP, PTT,\nIRPC, GC and GPSC.\n•\nTrade accounts receivables increased by THB 22,812 million mainly from overall higher average selling price\nfollowing market price of PTT, OR and GPSC.\n•\nOther non-current assets increased by THB 96,187 million or 12.3% mainly from\n•\nLong-term investments increased by THB 43,865 million from the increased investment in associates mainly from\nGPSC’s investment in CI Changfang and CI Xidao, the purchasing additional shares in Vinythai (VNT) of GC as well\nas the increase in long-term investments in financial assets in Contemporary Amperex Technology Co., Ltd. (CATL)\nof PTTGM.\n•\n•\nRight-of-use assets increased by THB 43,664 million mainly from G1/61 Project and G2/61 Project of PTTEP.\nProperty, plant, and equipment (PPE) increased by THB 62,453 million or 4.4% mainly from PTTEP’s exploration and\nevaluation assets of G1/61 Project and G2/61 Project and TOP’s additional construction in progress of Clean Fuel\nProject (CFP).\n56-1 One Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations of\nPTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information and Other Important\nInformation\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2022\n204 56-1 One Report 2022\n205\nPTT Public Company Limited\nSection 1\n4. Management’s Discussion and Analysis (MD&A) PTT Public Company Limited\nBusiness Operations and Performance\nSection 1\nBusiness Operations and Performance\nLiabilities\nAs of December 31, 2022, PTT Group had total liabilities of THB 1,881,939 million, increasing by THB 283,495 million\nor 17.7% from December 31, 2021, mainly from the following:\n•\nOther liabilities increased by THB 39,726 million or 6.1% mainly from the increase in trade accounts payables due\nto the increase in purchasing volume and prices mainly from PTT as well as the increase in commodity derivatives\nprimarily from PTTT and the increase in provision for decommissioning costs of G1/61 Project and G2/61 Project of\nPTTEP.\n•\nInterest-bearing debt increased by THB 243,769 million or 25.7% due to the increase in long-term loans and bond by\nTHB 124,308 million mainly from GC, PTT, TOP and GPSC as well as the increase in short-term loans by THB 79,798\nmillion mainly from TOP, IRPC and GC.\nEquity\nAs of December 31, 2022, PTT Group had total shareholders’ equity of THB 1,533,693 million, increasing by\nTHB 60,753 million or 4.1% from December 31, 2021 as PTT Group performance reported 2022 net income amounting to\nTHB 91,175 million offset with dividend payment from the operating results of the second half of 2021 amounting to\nTHB 0.80 per share and the first half of 2022 amounting to THB 1.30 per share which total amount is approximately\nTHB 60,000 million. Additionally, non-controlling interests increased by THB 14,859 million mainly from higher net income\nof subsidiaries.\nLiquidity\nFor the year-ended December 31, 2022, PTT Group liquidity had net increase in cash and cash equivalents amounting to\nTHB 27,324 million. There was cash and cash equivalents at the beginning of the period of THB 312,730 million. As a result,\ncash and cash equivalents at the end of the period was THB 340,054 million. Details of cash flow by activities are as follows:\nUnit: THB million\nPTT Group\nNet cash provided by operating activities Net cash used in investing activities Net cash provided by financing activities Effects of exchange rates on cash and cash equivalents 191,700\n(186,690)\n50,668\n697\nExchange differences on translation (20,287)\nCash and cash equivalents classified as held for sale (8,764)\nNet increase in cash and cash equivalents during the year 27,324\nCash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 312,730\n340,054\n4. Management’s Discussion and Analysis (MD&A)\nNet cash provided by operating activities of THB 191,700 million was derived from THB 212,562 million of profit before\nincome taxes, adjusted to net cash provided by (used in) operating activities. The increase in net cash flow from operating\nactivities mainly resulted from THB 167,330 million of depreciation and amortization expenses, THB 37,091 million of finance\ncosts, THB 12,304 million of loss on impairment of assets, THB 11,649 million of loss on foreign exchange rate, THB 10,243\nmillion of loss on derivatives, THB 7,920 million of unrealized loss on fair value of commodity contracts. The decrease in net\ncash flow from operating activities mainly resulted from THB 5,849 million of share of profit from investments in joint ventures\nand associates, and the change in net operating assets resulting in the decrease in cash flow of THB 178,970 million while\nincome taxes paid of THB 85,482 million.\nNet cash used in investing activities was THB 186,690 million mainly resulted from the following:\n•\nThe cash outflow of investments in property, plant and equipment, investment property, intangible assets, and exploration\nand evaluation assets amounting to THB 171,813 million, mainly due to additional investment in exploration and\nproduction assets in G1/61 Project, G2/61 Project, Zawtika Project, Bongkot Project, and S1 Project of PTTEP, additional\ninvestment of TOP in CFP and expand the capacity of electricity and steam of TOP SPP Co., Ltd. (TOP SPP), GC’s\nOlefins I4/2 Modification project, the 7th Gas Separation Plant, Bang Pakong - South Bangkok power plant transmission\npipeline project, the 5th transmission pipeline project of PTT, GSP Logistics Management, and LNG receiving terminal\nat Nong Fab of PTT LNG Co., Ltd. (PTTLNG).\n•\nThe cash outflow of business acquisition and long-term investments amounting to THB 60,905 million, mainly from\nCATL of PTTGM, GPSC’s investment in CI Changfang and CI Xidao, as well as the purchasing additional shares in VNT\nof GC.\n•\nThe cash inflow from short-term investment in financial assets totaling THB 37,031 million, mainly from maturity of\nfixed deposits of OR and GC.\nNet cash provided by financing activities was THB 50,668 million, mainly from the following:\n•\nThe net cash inflow of short-term and long-term loans amounting to THB 171,139 million mainly from GC, PTT, TOP\nand IRPC.\n•\n•\nDividend payment amounting to THB 85,923 million mainly from PTT, PTTEP and GC.\nFinance costs paid amounting to THB 36,198 million mainly from GC, TOP, PTT and PTTEP.\nManagements of the COVID-19 Pandemic Situation\nThe COVID-19 pandemic and government measures have affected the petroleum and petrochemical businesses. PTT\nGroup has risk management in place for both short and long-term crises, and has consistently maintained the Group’s\ncompetitiveness and strength through the PTT Group Vital Center which includes the following by PTT COVID-19 Monitoring\nand Surveillance Center (Palungjai Center) manages personnel’s physical and mental safety. Stringent preventive and control\nmeasures are in place for COVID-19 infection together with regular provision of news and information along with easy access\nto the hub, including vaccination to build immunity for employees and their families by continuously monitoring the number\nof infected people and people at risk, continuously announcing measures and guidelines from relevant government agencies\nto determine measures and guidelines to prevent and reduce the risk of infection in PTT’s work areas, including compliance\nwith such universal preventions as wearing a mask at all times, washing or cleaning hands, maintaining social distance.\n56-1 One Report 2022\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nMilestone Achievement\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations of\nPTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information and Other Important\nInformation\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n56-1 One Report 2022\n206 56-1 One Report 2022\n207\nPTT Public Company Limited\nSection 1\n4. Management’s Discussion and Analysis (MD&A) PTT Public Company Limited\nBusiness Operations and Performance\nSection 1\nBusiness Operations and Performance\n4.2 Factors that May Impact Future Operations\n4.2.1 Factors on Environmental and Social Trend and Impact\nPTT identifies and evaluates key sustainability issues from its operational activities, products, and services that can have\na positive and negative impact on various dimensions, including the economy, environment, individuals, and human rights.\nThese issues are collected and analyzed from the value chain, internal and external factors, trends, direction, and standard\nmodification. These materiality inputs are integrated into corporate strategic planning and risk assessment procedures.\nIn 2022, climate change remains one of the key materiality issues, which is analyzed as the main input factor in the strategic\ndirection process and corporate risk management through various scenario simulations by setting Carbon Neutrality targets,\nNet Zero Emissions, and corporate long-term goals in 2030 which reflect efforts to reduce and mitigate risks, as well as increase\nbusiness opportunities from the obvious effects of climate change.\nAs for other important sustainability issues such as corporate governance, risk management, internal control and compliance,\nefficient use of resources, pollution prevention, occupational health and safety, personnel development and retention, etc.,\nPTT has clearly defined the responsible units for management with monitoring and report of performance progress to\nthe management-level committee and the Board of Directors according to the governance structure to continuously review\nefficiency and effectiveness. Further details are available under the heading “Driving Business towards Sustainability” and\nPTT’s website in “Sustainability.”\n4.2.2 Financial Support to Affiliated Companies\nAs of December 31, 2022, PTT provided the following financial support to affiliated companies.\nUnit: THB million/ USD million\nOutstanding Balance\nCurrency Amount\nAvailable\nBalance\nCompany Shareholder\nLoan\nOthers\nCompanies with lower than 100% shares\nTotal USD - - - -\nTHB - - - -\nPTT Treasury Center Co., Ltd. (PTT TCC) USD - - - -\nTHB 135,6791/ 57,428 - 77,033\nTotal USD- - - -\nTHB 135,679 57,428 - 77,033\nTotal USD - - - -\nWholly owned Company\nTHB 135,679 57,428 - 77,033\nRemark:\n1/ According to the Shareholder Loan Agreements between PTT and PTT TCC dated December 18, 2019, January 4, 2021, May 21, 2021,\nJune 22, 2021, November 23, 2021, February 28, 2022, May 27, 2022, August 15, 2022 and October 18, 2022, the total amount is\nTHB 135,679 million to support the investment of PTT Group companies.\n4. Management’s Discussion and Analysis (MD&A)\nPTT will consider providing financial support in the form of loan, capital and/or trade credit as necessary with conditions\ncomparable to the market, and for long-term benefits of PTT and PTT Group. Such a policy and practice are believed to\nstrengthen PTT Group.\nInter-Company Borrowing and Lending (ICBL)\nUnit: THB million\nSupported\nCompany\nCredit lines\nPTT can lend\nto affiliated\ncompanies\nCredit lines\nPTT can\nborrow from\naffiliated\ncompanies\nOutstanding\nbalance\nfrom PTT\nOutstanding\nbalance\nto PTT\nPTT Exploration and Production Plc. 5,000 5,000 - -\nPTT Global Chemical Plc. 10,000 3,500 - -\nThai Oil Plc. 2,100 2,100 - -\nIRPC Plc. 10,000 1,500 - -\nPTT Oil and Retail Business Plc. 2,500 1,500 - -\nGlobal Power Synergy Plc. 1,500 500 - -\nTotal 31,100 14,100 - -\nAs for affiliated companies which PTT has less t",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_cash_flow",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "operating: 382045 THB million, investing: -161245 THB million, financing: -142159 THB million",
      "golden_context": "Page 106:\n\nLiquidity\nFor the year-ended December 31, 2023, PTT Group had net increase in cash and cash equivalents amounting to\nTHB 77,080 million. There was cash and cash equivalents at the beginning of the period of THB 340,054 million. As a result,\ncash, and cash equivalents at the end of the period was THB 417,134 million. Details of cash flow by activities are as follows:\nUnit: THB million\nConsolidated Financial Statement\nNet cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effects of exchange rates on cash and cash equivalents 382,045\n(161,245)\n(142,159)\n(3,279)\nExchange differences on translation 2,019\nCash and cash equivalents classified as held for sale (301)\nNet increase in cash and cash equivalents during the period 77,080\nCash and cash equivalents at the beginning of period Cash and cash equivalents at the end of period 340,054\n417,134",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_company_type",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nThis report uses\nenvironmentally\nfriendly paper.\nSection 1\nBusiness Operations and Performance\nSection 2\nCorporate Governance\nSection 3\nFinancial Report",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_key_financials",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "sales and service revenue: 3144551 THB million, EPS: 3.92, net profit margin: 4.94",
      "golden_context": "Page 4:\n\nFinancial Highlights\n2021\n2022 2023\nStatement of Income (THB million)\nSales and service revenue 2,258,818 3,367,203 3,144,551\nEarnings before interest, taxes,\ndepreciation and amortization (EBITDA) 427,956 491,288 426,895\nProfit attribute to equity holders of the company 108,363 91,175 112,024\nStatement of (THB million)\nFinancial Position\nTotal assets 3,071,384 3,415,632 3,460,462\nTotal liabilities 1,598,444 1,881,939 1,835,486\nNon-controlling interests of the subsidiaries 466,244 481,102 503,778\nEquity attributable to owners of the company 1,006,696 1,052,591 1,121,198\nShares or Information about Common Shares\nIssued and paid up share capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 35.24 36.85 39.25\nEarnings per share (THB) 3.79 3.20 3.92\nDividend per share (THB) 2.00 2.00 2.00\nDividend payout ratio (%) 52.8 62.5 51.0\nShare price at the end of period (THB) 38.00 33.25 35.75\nFinancial Ratios\nNet profit margin (%) 6.73 3.63 4.94\nNet profit margin (only equity holders of the company) (%) 4.80 2.71 3.56\nReturn on equity (%) 11.47 8.85 10.31\nReturn on total assets (%) 5.41 3.76 4.52\nDebt to equity1/ (Times) 0.64 0.78 0.71\nNet debt2/ to equity (Times) 0.40 0.55 0.44\nNet debt2/ to EBITDA (Times) 1.37 1.71 1.67\nInterest coverage (Times) 12.54 13.25 9.41",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_revenue",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "sales and service revenue: 3144551 THB million",
      "golden_context": "Page 4:\n\nFinancial Highlights\n2021\n2022 2023\nStatement of Income (THB million)\nSales and service revenue 2,258,818 3,367,203 3,144,551\nEarnings before interest, taxes,\ndepreciation and amortization (EBITDA) 427,956 491,288 426,895\nProfit attribute to equity holders of the company 108,363 91,175 112,024\nStatement of (THB million)\nFinancial Position\nTotal assets 3,071,384 3,415,632 3,460,462\nTotal liabilities 1,598,444 1,881,939 1,835,486\nNon-controlling interests of the subsidiaries 466,244 481,102 503,778\nEquity attributable to owners of the company 1,006,696 1,052,591 1,121,198\nShares or Information about Common Shares\nIssued and paid up share capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 35.24 36.85 39.25\nEarnings per share (THB) 3.79 3.20 3.92\nDividend per share (THB) 2.00 2.00 2.00\nDividend payout ratio (%) 52.8 62.5 51.0\nShare price at the end of period (THB) 38.00 33.25 35.75\nFinancial Ratios\nNet profit margin (%) 6.73 3.63 4.94\nNet profit margin (only equity holders of the company) (%) 4.80 2.71 3.56\nReturn on equity (%) 11.47 8.85 10.31\nReturn on total assets (%) 5.41 3.76 4.52\nDebt to equity1/ (Times) 0.64 0.78 0.71\nNet debt2/ to equity (Times) 0.40 0.55 0.44\nNet debt2/ to EBITDA (Times) 1.37 1.71 1.67\nInterest coverage (Times) 12.54 13.25 9.41",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_revenue_growth",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "sales and service revenue: 3144551 THB million, prior year: 3367203 THB million",
      "golden_context": "Page 4:\n\nFinancial Highlights\n2021\n2022 2023\nStatement of Income (THB million)\nSales and service revenue 2,258,818 3,367,203 3,144,551\nEarnings before interest, taxes,\ndepreciation and amortization (EBITDA) 427,956 491,288 426,895\nProfit attribute to equity holders of the company 108,363 91,175 112,024\nStatement of (THB million)\nFinancial Position\nTotal assets 3,071,384 3,415,632 3,460,462\nTotal liabilities 1,598,444 1,881,939 1,835,486\nNon-controlling interests of the subsidiaries 466,244 481,102 503,778\nEquity attributable to owners of the company 1,006,696 1,052,591 1,121,198\nShares or Information about Common Shares\nIssued and paid up share capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 35.24 36.85 39.25\nEarnings per share (THB) 3.79 3.20 3.92\nDividend per share (THB) 2.00 2.00 2.00\nDividend payout ratio (%) 52.8 62.5 51.0\nShare price at the end of period (THB) 38.00 33.25 35.75\nFinancial Ratios\nNet profit margin (%) 6.73 3.63 4.94\nNet profit margin (only equity holders of the company) (%) 4.80 2.71 3.56\nReturn on equity (%) 11.47 8.85 10.31\nReturn on total assets (%) 5.41 3.76 4.52\nDebt to equity1/ (Times) 0.64 0.78 0.71\nNet debt2/ to equity (Times) 0.40 0.55 0.44\nNet debt2/ to EBITDA (Times) 1.37 1.71 1.67\nInterest coverage (Times) 12.54 13.25 9.41",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000584_segments",
      "report_id": "ID_000584",
      "company_name": "PTT Public Company",
      "year": 2023,
      "country": "TH",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "Upstream: Gas; Petroleum exploration and production, investment in other upstream business; Downstream: oil and retail; international trading; petrochemical and refining; new business and infrastructure",
      "golden_context": "Page 45-46:\n\nUpstream Business Invested through PTT Group\nGas-related Business\nPTT operates natural gas-related businesses through its affiliates. For example, the LNG business operates LNG vessels,\nstorage, and regasification to accommodate Thailand’s LNG import. PTT is expanding investment and business into\nthe gas value chain. The business scope to date includes the development and construction of distribution pipeline\nsystem, and gas transportation. PTT invests through PTT Natural Gas Distribution Co., Ltd. (PTTNGD), Trans\nThai-Malaysia (Thailand) Co., Ltd. (TTM(T)), Trans Thai-Malaysia (Malaysia) Sdn. Bhd. (TTM(M)), PTT LNG Co., Ltd. (PTTLNG)\nand Map Ta Phut Air Products Co., Ltd. (MAP).\nPetroleum Exploration and Production\nPTT has conducted petroleum exploration and production businesses via PTT Exploration and Production Plc. (PTTEP),\nwhich is PTT Group’s flagship company in exploration and production. PTTEP operates domestic and international petroleum\nE&P and invests in related businesses to prospect petroleum sources of crude oil and natural gas for the purposes of ensuring\nThailand’s energy security and selling petroleum outputs from domestic and regional projects, mostly natural gas, primarily\nto the domestic market. As of December 31, 2023, PTTEP had more than 50 petroleum exploration and production projects\nin 12 countries, both in Thailand and overseas.\nInvestment in Other Upstream Business\nPTT has operated energy businesses overseas to find new energy sources and alternative energy to reinforce Thailand’s\nenergy security and upgrade its own existing businesses by leveraging the knowledge, expertise, and experiences of\nits human resources as well as collaborations within PTT Group to expand its investment outside Thailand. PTT invests through\nits subsidiaries, namely PTT Energy Resources Co., Ltd. (PTTER) and PTT Green Energy Pte. Ltd. (PTTGE).\nMore details on Business/ Supply/ Distribution by\nindividual company within the Group\nin which PTT invests are available at\ninvestor.pttplc.com/en/downloads/supplementary-one-report\nREAD\nMORE\nand on PTTEP at\npttep.com/en/Investorrelations/Regulatorfilings/Annualfiling.aspx\nREAD\nMORE\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\nDownstream Business Group\nPTT’s downstream business is divided into two business segments.\nDownstream Business Group Structure\nDownstream\nBusiness Group\nInternational\nTrading Business\n• Crude Oil and Condensate\n• Refined Oil Product and LPG\n• LNG and Alternative Products\n• Petrochemical Product,\nChemical, and Solvent\n• Derivatives\n•\nInternational Chartering\nOperated through PTT Group\n-\nPTT International Trading\nPte. Ltd. (PTTT)\n-\nPTT International Trading\nLondon Ltd. (PTTT LDN)\n-\nPTT International Trading\nUSA Inc. (PTTT USA)\nPetrochemical\nand Refining,\nOil and Retail\nBusiness\nOperated through PTT Group\n•\nPetrochemical and Refining\nBusiness\n-\nPTT Global Chemical Plc.\n(GC)\n- Thai Oil Plc. (TOP)\n- IRPC Plc. (IRPC)\n- PTT Tank Terminal Co., Ltd.\n(PTT TANK)\n•\nOil and Retail Business\n-\nPTT Oil and Retail Business\nPlc. (OR)\n081\n56-1 One Report 2023\nPTT Public Company Limited\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n082\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance PTT-Operated Downstream\nBusiness\nInternational Trading Business\nInternational Trading Business Unit engages in fully\nintegrated international trading ranging from supply\nprocurement, import, and export to international trading of\nassorted products, namely crude oil, condensate, liquefied\nnatural gas, liquefied petroleum gas, refined product,\npetrochemical, solvent, and chemical, together with price\nrisk management (hedging) services and international\nchartering services. Its core objective is to enhance\nenergy security while adding value to Thailand’s surplus\nproducts in parallel with trading platform expansion to all\nregions around the world and raising international trading\ncompetitiveness for PTT Group.\nThe business unit’s performance hinges on its pursuit of\ngrowth opportunities in out-out trading activities. It\ntherefore formed affiliates and representative offices\nin trading hubs around the world, including Singapore,\nAbu Dhabi (the United Arab Emirates), Shanghai (China),\nLondon (the United Kingdom), and Houston (the United\nStates of America). As a result, the business unit engages\ntrading transactions with various partners covering around\nthe world. Since international trading transactions\ncarry high value activities, the business unit has applied\nthe risk control system employed by the world-class trading\nhouses as its best practices. In addition, a committee is in\nplace to set risk management policies, steer assorted risk\nmanagement tasks, and clearly divide the work structure\nand roles in the system as Front-Mid-Back for checks and\nbalances. Digital technology is also applied to develop\nsystems for operation and transaction risk controls to\nenable quick, transparent transactions along with an\nefficient audit, and able to support the continuous growth\nof trade with greater volume and diversity.\nNature of Merchandise and Products\nInternational Trading Business deals in 5 categories of\nMerchandise and Products:\n1. Structure and Business Operations of PTT Group\n1) Crude Oil\nCrude oil represents assorted hydrocarbon compounds.\nIts quality varies with the types of organic substances\nwhere a given crude oil originates from, along with\nassociated impurities. This is one of a constraint facing\nrefineries. Thailand has several crude oil fields, but since\nthe amount of crude oil extracted and used domestically\naccounts for only less than 20% of the total demand for\ndomestic refineries, therefore, it is necessary for Thailand\nto import crude oil. From aboard. The crude suppliers are\nprimarily from the Middle East, including Saudi Arabia, UAE,\nQatar, and Oman, and the Far East, including Malaysia,\nVietnam, Indonesia, and Australia along with other sources\nsuch as Africa and USA.\n2) Condensate\nCondensate is natural gas that is present as gaseous\ncomponents in underground under high pressure but\nliquefies once brought up to the surface of the earth, and\nit is considered as a by-products of natural gas production.\nOver 60% of condensate used in Thailand is mainly from\ndomestic gas production, with the rest imported. Refineries\nprocess condensate directly or blend with crude oil for refining.\nProducts yielded will have the same property as those refined\nusing light crude.\n3) Liquefied Natural Gas\nLiquefied natural gas (LNG) is natural gas that has been\nconverted into liquid at atmospheric pressure by reducing\nthe temperature to -160 degrees Celsius for the purpose\nof long-distance transportation by ship. The demand for\nLNG is currently increasing around the world in the energy\ntransition era because natural gas is a low-carbon\nfuel compared to coal-fired power and other types of\npetroleum.\n4) Refined Oil Product & Liquefied\nPetroleum Gas\nRefined Oil Products & Liquefied Petroleum Gas are products\nobtained from the crude oil refining process or gas separation\nprocess, consisting of\nSection 1 Business Operations and Performance • Refined oil products such as gasoline, kerosene, aviation\nfuel, gasoil, fuel oil, low sulfur waxy residue, etc.\n• Liquefied Petroleum Gas (LPG)\n• Natural Gasoline (NGL)\n5) Petrochemical Products, Chemicals\nand Solvent\nPetrochemical Products, Chemicals, and Solvent are products\nobtained from processing by heat, pressure, and chemical\nreaction with the main raw materials from oil or natural gas,\nconsisting of\n• Aromatics products such as Benzene, Toluene, Mixed\nXylene, Paraxylene, Cyclohexane, Styrene Monomer,\nCumene, Phenol, etc.\n• Olefins products such as Ethylene, Propylene, Butadiene,\nC4 Raffinate, Butane, Mono-ethylene Glycol (MEG),\nPropylene Oxide (PO), etc.\n• Feedstock & By-Product such as Naphtha, Pygas, etc.\n• Chemicals such as Methyl Tert-butyl Ether (MTBE),\nSulfuric Acid, Acetic Acid, Purified Terephthalic Acid\n(PTA), etc.\n• Solvents such as Methanol, Acetone, etc.\nProduct Distribution of International\nTrading Business\nPTT’s international trading business is divided into 4 main\naspects namely\n1) 2) 4) Crude Oil and Condensate Business\nRefined Oil Products & Liquefied Petroleum Gas\n3) Liquefied Natural Gas\nPetrochemical Products, Chemical and Solvent\n1) Crude Oil and Condensate\nThe scope of operations includes international trading\ntransactions, procurement, import, and export of crude oil\nand condensate from domestic and international sources\nto supply refineries in and outside Thailand, as well as\nseeking opportunities for the physical swap of crude oil and\ncondensate for profit and balance of the system and ensuring\nthat indigenous crude oil and condensate are consumed\neffectively.\n1. Structure and Business Operations of PTT Group\n1.1) Domestic Crude Oil\nDue to resource scarcity in Thailand which is an importer,\ncrude oil is precious and must be optimized. At present\nPTT procures domestically from various fields including\nSirikit (Phet), Kampangsaen and U-thong (BP), Sankajai,\nBuengyah and Buengmuang (North Central), Wichianburi\nand Srithep (Wichianburi), East Na-sa-noon (NSE), Arunotai,\nPattani, Jasmine, Thantawan, Benjamas, Bualuang, Manohra.\nPTT buys parts of indigenous crude from concessionaires\nand sells this portion to domestic refineries.\n1.2) International Crude Oil\nPTT procures and transports crude oil from outside\nThailand for domestic refineries together with providing\nhedging management services. PTT fully supplies crude\nand condensate according to the refinery’s demand from\nGC, TOP, and IRPC, whereas supplies part of crude and\ncondensate to Bangchak Corporation Plc. (BCP), and Star\nPetroleum Refining Plc. (SPRC). The procured volumes\nare dependent on the quality, prices, bidding, and trading\nterms offered by refineries.\nPTT procures and imports feedstock to domestic refineries,\naccounting for over 80% of their throughput needs.\nPTT also serves as PTTEP’s trading arm for the domestic\nand international crude oil trade.\nBesides supplying imported crude oil for domestic refining,\nPTT also trades crude oil overseas for out-out trading,\nprocured from producing countries worldwide, and supply\nto other countries. This could generate revenue and profits\nfrom overseas, as well as build a reputation for the country\nin the international trading platform. A comprehensive global\ntrade network will contribute to energy security in the event\nof unrest affecting some oil-exporting countries.\n083\n56-1 One Report 2023\nPTT Public Company Limited\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n084\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\n1.3) Condensate\nPTT procures and transports condensate for domestic petrochemical plants and refineries, which GC, PTT Group’s petrochemical\nflagship, serves as the foremost buyer for feedstock purposes. PTT purchases condensate from domestic concessionaires,\noperators of onshore gas fields namely Sinphuhorm and Gulf gas fields, namely Erawan, Pailin, Bongkot, and Arthit. However,\nduring the shortage of domestic condensate, PTT will import from overseas sources, for instance, Australia, Indonesia,\nPhilippines, and Malaysia, etc.\nVolume of PTT’s Crude Oil and Condensate Supply\n2021 2022 2023\n%\nDomestic crude oil Volume\n(Million\nbarrels)\n%\nVolume\n(Million\nbarrels)\n%\nVolume\n(Million\nbarrels)\n26.3 7.9 23.4 6.2 22.1 5.3\nDomestic condensate 26.8 8.0 22.8 6.0 23.2 5.5\nImported crude oil 175.2 52.3 230.9 61.0 247.4 58.9\nImported condensate 18.4 5.5 17.9 4.8 16.3 3.9\nInternationally traded crude oil\nand condensate\n88.3 26.3 83.4 22.0 111.0 26.4\nTotal 335.0 100.0 378.4 100.0 420.0 100.0\nSource: PTT\n2) Refined Oil Products & Liquefied Petroleum Gas\nPTT procures, imports, exports and trades in refined oil product, semi-refined products and LPG for the purpose of energy\nsecurity and balance under normal circumstances and emergency. It sells to PTT Group and other corporate buyers, both\ndomestically and internationally. PTT also seeks trading opportunities in the world market to generate income for the national\neconomy and fostering energy-security network worldwide. These endeavors have established PTT’s reputation in the world\narena. PTT imported LPG and basic gasoline for production of gasohol to meet domestic demands, and then exported natural\ngasoline, which is by-product of gas separation plants, as well as surplus fuels from refineries. Currently, PTT is well-positioned\nto export refined oil product to all parts of the world, with trading price in line with market mechanism.\n3) Liquefied Natural Gas\nPTT by International Trading Business Unit imports LNG from the Spot market and short-term purchase contracts\nfor Commercial and Marketing Management Business under the gas business unit and those with Shipper License\nto create energy security for the country. Along with expanding liquefied natural gas trade in the international\nmarket continuously in line with the growing demand for clean energy, International Trading Business seeks\nopportunities for LNG Reloading Cargo to increase trade opportunities to other international markets.\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\n4) Petrochemical Products, Chemical and Solvent\nPTT procures, imports, exports, and engages in out-out trading of both upstream and midstream aromatics and olefins\npetrochemical products, as well as chemicals and solvents, covering both raw materials, main products, and by-products\nfrom refineries and petrochemical plants. PTT is the main exporter of petrochemical products that exceed GC’s demand\nin the aromatics sector, such as benzene (BZ) and paraxylene (PX). In addition, PTT also increases trade opportunities\nby participating in bidding for various products from other petrochemical plants both domestically and internationally\nto generate income and profit from international trade covering all regions of the world.\nInternational Trading Support\nPTT has the support for its international trading as follows:\n1) Price risk management\n2) International chartering\n1) Price Risk Management\nThe Derivatives Trading Department is a support unit dealing with price risk management from trading transactions, refining,\nproduction, petroleum products, petrochemicals, and cargo vessels for PTT, including PTT Group by trading derivatives in\nthe derivatives market to efficiently hedge against transaction risk and product price volatility risk. Digital systems\nare introduced to capture the timing of buying and selling derivatives contracts for efficient price risk management.\n2) International Chartering\nThe International Chartering Department is a support unit for international trade by securing cargo vessels and managing\ntime charter for import, export, and trading product of PTT and PTT Group as well as external agencies both in Thailand\nand overseas. In addition, it seeks opportunities to manage the cost of vessels from co-loading products to enhance our\ncompetitiveness and end-to-end business operation.\nInternational Trading\nAs of December 31, 2023, PTT’s international trading business reported sales revenue of THB 2,032,062 million.\nVolume and Value of International Trading by Product\n2021 2022 Value\n(THB million)\nVolume\n(Million\nLiters)\nValue\n(THB million)\nVolume\n(Million\nLiters)\nValue\n(THB million)\nVolume\n(Million\nLiters)\nInternational Trading\n- Crude oil and condensate 761,374 335 1,351,138 378 1,270,205 420\n- Refined oil product and LNG 301,484 114 723,104 168 660,994 210\n- Petrochemical product 83,420 24 97,973 22 99,395 78\n- Other product 286 - 351 - 1,468 -\nTotal of International Trading 1,146,564 473 2,172,566 568 2,032,062 708\nSource: PTT (inclusive of transactions through PTT Group)\n2023\nProduct\n085\n56-1 One Report 2023\nPTT Public Company Limited\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n086\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance Downstream Business Invested\nthrough PTT Group Companies\nInternational Trading Business\nPTT invested in international trading business to undertake\nfull-fledged international trading transactions through\n3 companies which are PTT International Trading Pte. Ltd.\n(PTTT), PTT International Trading London Ltd. (PTTT LDN)\nand PTT International Trading USA Inc. (PTTT USA).\nDetails of business/ procurement/\ndistribution of each company in which\nPTT invests through its affiliates are available on\nthe website investor.pttplc.com/en/downloads/\nsupplementary-one-report\nREAD\nMORE\nPetrochemical and Refining\nand Oil and Retail Business\nPTT invests in refining business in 3 out of 6 existing\nrefineries in Thailand, with a combined capacity of\n770,000 barrels per day (BPD), accounting for 62% of\nthe national refining capacity (as of December 31, 2023)\nand integrated petrochemical business covering upstream\nto downstream, from production to distribution of fuel oil,\nupstream, midstream and downstream petrochemicals\nboth olefins and aromatics, which focus on value creation,\nincluding marine terminal and tank services. PTT procures\ncrude oil and purchases fuels and petrochemical products\npartially from PTT Group to supply both domestic and\ninternational markets. Performance of oil, petrochemical,\nand refining businesses mainly depend on economic\nsituation and spreads between crude and feedstock to\npetroleum and petrochemical products in the global market\nwhich fluctuate according to global demand and supply,\nas well as year-end inventories. For PTT Group, GC is\nthe Petrochemical Flagship, TOP is the Refinery\nFlagship, IRPC is the Integrated Petrochemical and\nRefinery Flagship, and OR is the Oil and Retail Business\n1. Structure and Business Operations of PTT Group\nFlagship. OR conducts the business of distributing\npetroleum products, retails, and other services (Non-Oil),\nboth domestic and overseas. Its business includes\ndistribution of petroleum and other products in retail and\ncommercial markets, coffee business, food and beverages,\nconvenience stores, and space management. PTT TANK\noperates the business of receiving, storing, and transferring\nof products to PTT Group. PTT exercises direct and indirect\ngovernance of its affiliates through representatives that serve\nas directors and secondment.\nPTT invested in the petrochemical and refining business,\nas well as the oil and retail business through shareholding\nin 5 companies in PTT Group as follows:\n1. PTT Global Chemical Plc. (GC)\n2. Thai Oil Plc. (TOP)\n3. IRPC Plc. (IRPC)\n4. PTT Oil and Retail Business Plc. (OR)\n5. PTT Tank Terminal Co., Ltd. (PTT TANK)\nDetails of business/ procurement/ distribution of\neach company in which PTT invests through\nits affiliates are available on the website\ninvestor.pttplc.com/en/downloads/one-report\nREAD\nMORE\nincluding additional information of\nGC: pttgcgroup.com/en/investor-relations/document/\nannual-filings\nTOP: investor.thaioilgroup.com/form_561_\none_report.html\nIRPC: irpc.co.th/annualreport_post/annual-report/\nOR: investor.pttor.com/en/document/annual-reports\nREAD\nMORE\nREAD\nMORE\nPTT Global Chemical Plc.\n(GC)\nThai Oil Plc.\n(TOP)\nREAD\nMORE\nREAD\nMORE\nIRPC Plc.\n(IRPC)\nPTT Oil and Retail Business Plc.\n(OR)\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\nNew Business and Infrastructure Group\nNew Business and Infrastructure Group was formed on October 1, 2021, as a result of organizational restructuring.\nThe objective is to steer the operation of business units and subsidiaries in line with PTT Group’s transition from legacy\nto new business in which Future Energy and Beyond will become PTT’s core business in the future. This business group\nengages in engineering-related management, construction, real estate, logistics business development related to transport\nand infrastructure, research and development (R&D) of innovations for commercialization, as well as extending digital\nadvancements and developing digital transformation to accommodate business growth.\nNew Business and Infrastructure Group operates as follows:\nStructure of New Business and Infrastructure Group\n087\nNew Business\nand Infrastructure\nGroup\n56-1 One Report 2023\nPTT Public Company Limited\nInnovation\nand New Business\nEngineering\nand Infrastructure\n•\nBusiness\nDevelopment\n•\nEngineering and\nProject Management\n• Eastern Economic\nCorridor of Innovation\n(EECi)\n• Logistics and\nInfrastructure Business\nDevelopment\nInnovation Institute\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n088\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance PTT-Operated New Business\nand Infrastructure\nInnovation and New Business\nThis segment focuses on developing new businesses,\nexploring business opportunities in new technologies\nand innovations to accommodate megatrends and groom\nPTT for entering New Businesses which is in line with\n“Powering Life with Future Energy and Beyond” vision. These\ninclude new energy businesses by investing in renewable\nenergy projects, battery related to the energy storage system\nbusiness, EV value chain business, and Hydrogen business.\nGrowth opportunities are explored in businesses other\nthan energy, such as Life Science (includes Pharmaceuticals,\nMedical Devices, and Nutrition), AI, Robotics and\nDigitalization to provide energy management services,\nand digital platforms to support other business that are\nnot currently in PTT’s business value chain. Furthermore,\nthis business unit shall regulate the investment in\nnew business development and charting direction for\nthe operation of companies within the Innovation and New\nVentures.\nEngineering and Infrastructure\nThis segment consists of engineering and project\nmanagement in engineering and construction, such as\nconstruction of gas transmission pipeline and gas separation\nplant, assets management including land, building, and\nconstruction, etc. In addition, this segment shall implement\nprojects that execute PTT’s new business strategy,\nprimarily logistics and infrastructure business that focuses\non connecting domestic and international transportation\nnetworks, as well as executing the Eastern Economic\nCorridor of Innovation Project (EECi); exploring joint\ndevelopment possibilities in various Smart City projects\nand exploring business opportunities in logistics and\ninfrastructures. All these are geared towards excellence\nin the real estate development business and integrated\nengineering services.\nInnovation Institute\nThe Institute undertakes research and development (R&D)\nof products and innovations by focusing on strengthening\ntechnologies and evolving researcher’s caliber to become\n1. Structure and Business Operations of PTT Group\nspecialists in individual aspects. All these are aimed at cost-\noptimization, productivity maximization, and commercialization\nof R&D and innovations to yield business outcomes.\nNew Business and Infrastructure\nOperated through PTT Group\nAs of December 31, 2023, the following PTT Group\ncompanies are under the supervision of the New Business\nand Infrastructure Group:\n1. 2. 3. 4. 5. Global Power Synergy Plc. (GPSC)\nDistrict Cooling System and Power Plant Co., Ltd. (DCAP)\nEnergy Complex Co., Ltd. (EnCo)\nPTT Energy Solutions Co., Ltd. (PTTES)\nPTT Digital Solutions Co., Ltd. (PTT DIGITAL)\nCurrently, the power business is a core business under\nthe New Business and Infrastructure Group. PTT Group\nhas engaged in the power business through GPSC, a Power\nFlagship company. GPSC conducts its business primarily\nin the production and distribution of electricity, steam,\nindustrial water, and other public utilities, which operates by\nitself and by investing in other companies. As of year-end\n2023, its total committed equity capacities were 9,315\nmegawatts (MW) of power generation (4,431 MW from\nconventional and 4,884 MW from renewable energy),\n2,858 tons per hour of steam, 7,026 cubic meters per hour\nof industrial water, 15,400 refrigerated tons of chilled\nwater, and 314 megawatts hour of energy storage unit.\nRenewable Energy Business operates through GPSC,\na flagship company in renewable energy business investment\nboth domestically and internationally, to achieve the goal of\n15,000 MW of power generation from renewable energy by\n2030. As of the year-end 2023, GPSC’s power generation\ncapacity from renewable energy totaled 4,884 MW.\nIn addition, PTT Group has set the strategic direction by\nmoving towards the energy business of the future and\ngrowing in new business beyond energy. In this regard,\nPTT has established new subsidiaries under the PTTGM\ngroup to execute these new businesses or New S-Curve\nbusinesses under the vision of “Powering Life with Future\nEnergy and Beyond”. The following new businesses have\nalready started their commercialization, such as;\nSection 1 Business Operations and Performance EV Value Chain Business: Arun Plus Co., Ltd. (ARUN PLUS)\noperates a fully integrated EV business recognizing\nsignificant environmental awareness and global change.\nWhile aiming to be a leader in developing and driving\nthe EV ecosystem in ASEAN, ARUN PLUS has explored EV\nmanufacturing opportunities in Thailand through business\npartnerships, providing EV air-conditioned bus services,\ndistributing EV chargers, and expanding EV charging\nstations outside gas stations, etc. Investments through\nsubsidiaries are as follows: Horizon Plus Co., Ltd. (HORIZON\nPLUS) is set up to operate EV manufacturing in Thailand\ntargeted to start its commercialization in 2025 with an initial\nproduction capacity of approximately 50,000 vehicles\nper year. EVME PLUS Co., Ltd. (EVME PLUS) is the first and\nonly fully integrated EV rental service provider\nin Thailand through the EVme application, such as EV rental\nservices, information service on charging stations,\nand maintenance stations for EVs. Aionex Co., Ltd. (Aionex)\noperates the business of manufacturing 2-wheel EVs\nto sell and provide battery swapping servicesfor 2-wheel EVs\nwith projected commercial operation in 2024. Swap and Go\nCo., Ltd. (Swap and Go) provides an infrastructure platform\nand battery-swapping network for electric motorcycles without\nwaiting for charging.\nEnergy Storage and System Related Business has\nestablished Nuovo Plus Co., Ltd. (NUOVO PLUS) to support\ninvestment in the battery value chain, accommodating\nthe EV industry according to the country’s automotive driving\npolicy, including the Energy Storage System (ESS), a system\nthat supports the storage of electric energy from renewable\nenergy and investment in related businesses. NV Gotion\nCo., Ltd., in which NUOVO PLUS holds 51% shares and\nGotion Singapore Pte. Ltd., holds 49% shares, designs,\ndevelops, inspects, manufactures, procures, and operates\nafter-sales service for battery modules and battery packs\nwith battery management system for all types of commercial\nvehicles, passenger cars, SUVs, two-wheelers and tricycles, as\nwell as energy storage system. In addition, ARUN PLUS has\ncompleted the establishment of A C Energy Solution Company\nLimited (A C Energy Solution) by early 2024, collaboration with\nContemporary Amperex Technology Co., Limited (CATL) to\nconstruct a Cell-To-Pack battery plant in Thailand to operate\nthe Cell-To-Pack battery business, with targeted commercial\noperation by 2025.\n1. Structure and Business Operations of PTT Group\nLife Science Business: Innobic (Asia) Co., Ltd. (Innobic (Asia))\nsupports investment in Life Science business such as\npharmaceuticals, food and nutrition, medical equipment\nand diagnosis, etc. The investment in this business will\nenhance PTT’s capability in life science and create added\nvalue for the country. For example, Innobic (Asia) has\npurchased common stocks of Lotus Pharmaceutical Co., Ltd.\n(LOTUS), a listed company on the Taiwan Stock Exchange,\nwhose core business is research and development (R&D),\nmanufacturing, and distribution of generic drugs that cover\nvarious therapeutic areas, especially oncology, central\nnervous system, etc. In addition, Innobic Nutrition Co., Ltd.\nis established to operate the business of dietary supplements\nand medical food. The construction of a plant-based protein\nfactory with a capacity of 3,000 tons per year, the largest\nin ASEAN, was completed in 2023.\nAI, Robotics, and Digitalization Business: Alpha Com\nCo., Ltd. (Alpha Com) serves as an investment vehicle in\nnew businesses for PTT and PTT Group, whereby new\nbusiness concepts and models can be assessed before\nactual investments. PTT Raise Co., Ltd. (PTT RAISE) supplies\nand installs robotics and automation system for industrial\ncustomers. PTT and TGES Optec Co., Ltd. (OPTEC) operate\nOne-stop Total Improving Efficiency Technology Solutions/\nServices that deploy technology to enhance the efficiency\nof industrial equipment and machinery. Mekha V Co., Ltd.\n(Mekha V) which holds shares through NEWVERSAL Co., Ltd.\n(NewVersal) is a flagship to accommodate investment\nin AI & Robotics. T-Ecosys Co., Ltd. (T-ECOSYS) operates\na digital platform business called “Industrial Digital Platform”\n(IDP) for driving industrial transformation in the Thai industry\nthrough connecting service providers with industrial users\nwho want to access the robotics technology, automation,\nand digital technology services which is the basic ecosystem\nto support the growth of the industry sector.\nLogistics & Infrastructure Business: Global Multimodal\nLogistics Co., Ltd. (GML) was established to connect all\ntransportation networks of Thailand and also seamlessly\nconnect the international transportation network. Its main\nservices include freight services (by rail, sea, land, and air),\ncold chain management, property management and asset\nrental, and real estate related to the logistics business.\nThis will help entrepreneurs increase their competitiveness\nas well as reduce their logistics costs.\n089\n56-1 One Report 2023\nPTT Public Company Limited\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n090\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance Details of business/ procurement/\ndistribution of each company in which\nPTT invests through affiliates are available on\nthe website investor.pttplc.com/en/downloads/\nsupplementary-one-report\nREAD\nMORE\nand for GPSC on gpscgroup.com/en/investor-relations/\ndownloads/one-reports\nREAD\nMORE\nOther Businesses\nPTT Treasury Center Co., Ltd. (PTT TCC) serves as a treasury\ncenter for PTT and PTT Group companies by securing Thai\nbaht and foreign currency over the long and short term to be\nlent to PTT and/or affiliates. This includes debt management,\nliquidity management, short-term and medium-term\ninvestment services, financial risk management, etc., taking\ninto account the interests of PTT and PTT Group companies.\nPTTGM acts as a holding company to support investment\nin PTT’s businesses both domestically and internationally\nor operate new businesses according to PTT’s vision and\nstrategic direction.\nFurther information concerning business/\nprocurement/ distribution of companies in which\nPTT invests through its affiliates is available on\nthe website investor.pttplc.com/en/downloads/\nsupplementary-one-report\nREAD\nMORE\n1. Structure and Business Operations of PTT Group\n1.2.3 Marketing\nand Competition\nExploration\nand Production Business\nMarketing\nPTTEP operates petroleum exploration and production\nbusiness both domestically and internationally. The target\nmarkets are both domestic and overseas where the company\ninvested. In 2023, the total sales ratio of domestic to overseas\nwas 66% : 34%. PTTEP sells its outputs from domestic\nand ASEAN primarily to the Thai market through PTT,\nthe major buyer and processor of all products. PTT then\nturns the processed products into the power sector,\npetrochemical sector, transportation sector, industry sector,\nand household sector.\nMarketing of petroleum products varies with their characteristics\nand field location which results in differentiating the market\nand sales price structures as summarized herewith.\n1) Natural gas\nDue to capital-intensive investment in developing oil and\ngas exploration business, gas sales agreements (GSAs)\nmust be agreed upon or signed between the buyer and seller\nbefore any major investment is made. GSAs are typically\nlong-term contracts, ranging from 15 to 30 years. Prices,\nvolumes, and points of sale are stipulated for each of\nthe contracts. Gas prices are mostly linked to fuel oil prices or\nDubai crude prices as well as several key economic indices\nand exchange rate to reflect the investment costs and be\ncompetitive compared with other fuels along the GSA period.\n2) Condensate and Crude Oil\nCondensate and crude oil prices are determined by their\nproperties and benchmarked with condensate prices and\ncrude oil prices of Regional Benchmark Price. Contracts are\neither short-term or long-term, and some are sold in spot\nmarkets.\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\n3) Naphtha\nPTTEP sells naphtha from its investment in the ADNOC Gas Processing Project (AGP), the largest gas processing complex\nlocated onshore of Abu Dhabi, UAE, which is sold by Abu Dhabi National Oil Company (ADNOC) and represents as a Marketing\nAgent. The selling price followed the official selling price in the region and naphtha is sold under a short-term contract.\n4) Liquefied Petroleum Gas\nPTTEP sells LPG produced from S1 Project to PTT under a long-term contract with a price in line with the government’s\npolicy and announcements of the Joint Committee on Energy Policy Administration. In addition, LPG produced by ADNOC\nGas Processing Project (AGP) is sold under a short-term contract in which the selling price refers to the official selling price\nin the region.\nCompetition\nThailand’s E&P industry is oligopolistic due to high petroleum demand compared with production, resulting from\nthe business’ relatively high investment and advanced technology required. The GSAs, especially natural gas,\nare predominantly long-term contracts coupled with take-or-pay clauses to attract new investments to the market\nand reduce the risk of investors investing in this business.\nBased on estimated data of 2023 production petroleum of PTTEP from domestic sources accounted for 72% of total domestic\nproduction\nAs of 2022-year-end, the total amount of the natural gas reserves in Thailand\nand the Malaysia-Thailand Joint Development Area (MTJDA) are as follows:\nNatural Gas\n(Billion Cubic\nFeet: bcf)\nCrude Oil\n(Million Barrels:\nMMbbl)\nCondensate\n(Million Barrels:\nMMbbl)\nProved Reserves 4,658.88 76.70 131.29\nSource: Annual Report 2022 of Department of Mineral Fuels\nIn Thailand, there are many large operators in petroleum exploration and production such as PTT Exploration and Production Plc.,\nChevron Thailand Exploration and Production Co., Ltd., Chevron Offshore (Thailand) Co., Ltd., Hess (Thailand) Co., Ltd.,\nMitsui Oil Exploration Co., Ltd. In 2023, the average production volume of domestic natural gas was at 2,192 MMSCFD,\nstable from the previous year, and crude oil production was at 69,012 BPD, decreased by 12% from the previous year.\nAdditionally, condensate production volume was at 60,668 BPD, which increased by 3% from the previous year.\nReserves\nProbable Reserves 3,627.84 94.11 132.80\nPossible Reserves 3,127.75 38.86 135.15\n091\n56-1 One Report 2023\nPTT Public Company Limited\n56-1 One Report 2023\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nAwards and Recognition\nMessage from the Board of Directors\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management’s Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n092\n56-1 One Report 2023\nPTT Public Company Limited\nSection 1 Business Operations and Performance 1. Structure and Business Operations of PTT Group\nThailand’s Petroleum Production Volume 2013 - 2023\nNatural Gas\n(MMSCFD)\nCrude Oil\n(BPD)\nCondensate\n(BPD)\n2013 4,045 149,482 91,159\nYear\n2014 4,073 138,552 94,330\n2015 3,852 152,387 95,629\n2016 3,777 163,527 94,489\n2017 3,620 141,248 98,572\n2018 3,527 129,201 99,010\n2019 3,623 125,889 102,332\n2020 3,262 117,029 84,835\n2021 3,204 97,620 79,549\n2022 2,192 78,793 58,630\n2023 2,192 69,012 60,668\nSource: Website of the Energy Policy and Planning Office, Ministry of Energy (www.eppo.go.th)\nNatural Gas Business\nIn Thailand, natural gas business is regulated by the Energy Regulatory Commission under the Energy Business Act B.E. 2550.\nIn view of the government’s policy to restructure the energy business, separating regulatory work from the energy business,\nand for the regulatory scope to cover the electricity and natural gas business for efficiency, prosperity, and adequate supply,\nthe Energy Regulatory Commission was established. As an independent regulator, the scope of ERC authority includes\nthe prevention of monopoly and protection of energy users and those affected by the energy business. The Energy\nBusiness Act B.E. 2550 was gazetted on December 10, 2007, effective from December 11, 2007 onwards.\nPTT is the sole integrated operator of natural gas business in Thailand. Currently, PTT and affiliates engaging in the\ngas business adhered to the following marketing policies:\n•\nSupply Strategy: This includes the procurement of natural gas and LNG to ensure energy security together with\ncommercial competition accommodating the policy to promote competition in natural gas business.\n•\nOperating Strategy: Maintaining operational excellence in meeting client’s needs and lay the foundation for future growth.\n•\nMarketing Strategy: Managing supply contracts with power producers to maintain market share while exploring new avenue\nto boost natural gas sales or LNG in Thailand and internationally.\n•\nPortfolio Expansion: Pursuing investment opportunities in Thailand and beyond including Gas/ LNG Business and\nNon-Gas Business.\nSection 1 Business Operations and Performance For the natural gas wholesale business, the ERC granted\nShipper License to the following 8 companies:\n1. PTT Plc.\n2. EGAT\n3. Gulf LNG Co., Ltd.\n4. B.Grimm LNG Co., Ltd.\n5. Hin Kong Power Holding Co., Ltd.\n6. EGCO Plc.\n7. PTT Global LNG Co., Ltd.\n8. SCG Chemicals Co., Ltd.\nIn 2023, PTT has continued to supply most natural gas\nand LNG from both long-term contracts and the spot market\ninto the pipeline transmission system for the country’s\nenergy security and energy cost management. Only EGAT\nimports LNG from the spot market for use in EGAT’s power\nplants, as part of the implementation of the Third Party\nAccess (TPA) policy, which allows third parties to access\ngas pipelines and LNG stations as well as promotes\ncompetition in the natural gas business under the framework\nestablished by the Ministry of Energy.\nRegarding Distribution Pipeline System, PTT remains\nthe lead player in investment and operation. Apart from\nPTT, there are other companies operating in distribution\npipeline system including PTTNGD, which engaged\nin developing and constructing distribution systems\nto transport and distribute natural gas to customers in\nindustrial zones around Bangkok and perimeter.\n1. Structure and Business Operations of PTT Group\nCurrent Natural Gas Demand\nIn 2023, natural gas supply averaged 4,430 MMSCFD\n(heat value of 1,000 BTU per cubic foot), 52% of which\ndomestic and 48% international production. The volume\nof gas supply in 2023 increased by 257 MMSCFD or 6%\nfrom 2022. Overall supply and distribution of natural gas\nincreased due to higher gas supply from gulf of Thailand.\nPTT supplied natural gas in 2023 to the following clients:\n•\nElectricity\nAveraging 2,743 MMSCFD, accounting for 62% of overall\nsales volume, a 12% increase from 2022, an average of\n2,453 MMSCFD. In this segment, supply to EGAT totaled\n793 MMSCFD, along with 753 MMSCFD to independent\npower producers and 1,197 MMSCFD to small power\nproducers.\n•\nIndustry\nAveraging 786 MMSCFD, 18% of total sales, decreased by\n4% from the 2022 sales volume of 817 MMSCFD.\n•\nTransport\nNatural gas sales in the transport sector in 2023 averaged\n136 MMSCFD, 3% of total sales, which decreased by 3%\nfrom 2022 at 140 MMSCFD.\n•\nGas Separation Plant\nThe gas usage on the gas separation plant to add value to\nnatural gas had a total volume of 783 MMSCFD, accounting\nfor 17% of total sales volume, which increased by 0.4% from\n2022 at 7",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_cash_flow",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 373240 THB million, investing: -188763 THB million, financing: -186411 THB million",
      "golden_context": "Page 5:\n\nStatement of Income\nStatement of Financial Position Unit: THB million\n2022 2023 2024\nUnit: THB million\n2022 2023 2024\nSales and service revenue 3,367,203 3,144,884 3,090,453\nEarnings before interest, taxes,\ndepreciation and amortization\n(EBITDA) 491,288 426,895 396,234\nProfit attribute to equity holders\nof the company 91,175 112,024 90,072\nSales and Service Revenue\nUnit: THB million\nTotal assets 3,415,632 3,460,462 3,438,784\nTotal liabilities 1,881,939 1,835,486 1,781,907\nShareholders’ equity\n- Equity attributable to owners\nof the company 1,052,591 1,121,198 1,149,652\n- Non-controlling interests of\nthe subsidiaries 481,102 503,778 507,225\nExploration\nand Production Business\nGas Business1/\nInternational Trading Business2/\nOil and Retail Business\nPetrochemical\nand Refining Business\nNew Business and Sustainabiity\nOthers\nNet Income\nUnit: THB million\n26%\n14%\n2%\n1% 6%\n2%\n0.2% 6%\n13%\n25%\n3,367,203 3,144,884 38%\n15%\n2022\n2023\n13%\n39%\n27%\n14%\n2%\n0.3% 6%\n3,090,453\n2024\n12%\n39%\nPTT\nExploration\nand Production Affiliates\nOil and Retail Affiliates\nPetrochemical\nand Refining Affiliates\nNew Business\nand Sustainability Affiliates\nOther Affiliates\n22%3/\n1%\n8%\n91,175\n2022\n17% 14%4/ 51%\n4%\n8%\n7%\n112,024\n2023\n22%\n45%\nRemarks:\n1/ Gas Business consists of Gas Business Unit and subsidiaries\n2/ International Trading Business consists of International Trading Business Unit and subsidiaries\n3/ In 2022, net income of other afffiliates mainly came from coal business\n4/ In 2023-2024, net income of other affilaites mainly came from PTT LNG Co., Ltd. (PTTLNG) and PTT International Trading Pte. Ltd. (PTTT)\n23%4/\n6%\n(12%)\n6%\n90,072\n2024\n20%\n57%\n56-1 One Report 2024\nPTT Public Company Limited\nShares or Information about\nCommon Shares\n2022 2023 2024\nFinancial Ratios\n2022 2023 2024\nIssued and paid up\nshare capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 36.85 39.25 40.25\nEarnings per share (THB) 3.20 3.92 3.15\nDividend per share (THB) 2.00 2.00 2.10\nDividend payout ratio (%) 63 51 67\nShare price at the end\nof period (THB) 33.25 35.75 31.75\nStatement of Financial Position Unit: THB million Net profit margin (%) 3.63 4.94 3.67\nNet profit margin (attributable to\nequity holders of the Company) (%) 2.71 3.56 2.91\nReturn on equity (%) 8.85 10.31 7.93\nReturn on total assets (%) 3.76 4.52 3.29\nDebt to equity1/ (Times) 0.78 0.71 0.67\nNet debt2/ to equity (Times) 0.55 0.44 0.40\nNet debt2/to EBITDA (Times) 1.71 1.67 1.65\nInterest coverage (Times) 13.25 9.41 8.46\nRemarks:\n1/ Debt to equity = Interest bearing debt divided by Total shareholder’s equity\n2/ Net debt = Interest bearing debt (IBD) - Cash and cash equivalents - Short-term\ninvestments in financial assets\nStatement of Cash Flows\nUnit: THB million\n3,415,632 3,460,462 3,438,784\nNet cash provided by operating activities\n2022\n2023\n191,700\n382,045\n875,439\n1,040,863\n1,499,330\n1,533,693 688,346\n1,193,593\n837,514\n1,081,739\n1,161,442\n674,044\n874,390\n1,029,737\n1,541,209\n1,624,976\n1,534,657\n1,656,877\n1,106,196\n675,711\n2024\n373,240\nNet cash used in investing activities\n2022\n2023\n2024\n(186,690)\n(161,245)\n(188,763)\nNet cash provided by (used in) financing activities\n2022\n50,668\n2023\n2024\n(142,159)\n(186,411)\nCash and cash equivalents at the beginning of year3/\n2022\n2023\n2024\n312,730\n340,054\n417,134\n2022 2023 Current Assets\nOther Non-current Assets\nProperty, Plant, and Equipment\n2024\nTrade Payable and Other Liabilities\nInterest Bearing Debt (IBD)\nShareholder's Equity\nCash and cash equivalents at the end of year3/\n2022\n2023\n2024\n340,054\n417,134\n405,139",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_company_type",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "company_type",
      "golden_answer": "Limited",
      "golden_context": "Page 1:\n\n56-1 One Report 2024\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nSustainability Performance Highlights\nCorporate Governance Highlights\nAwards and Recognition\nMessage of the Chairman and the CEO\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_key_financials",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "key_financials",
      "golden_answer": "Sales and service revenue: 3090453 THB million, EBITDA: 396234 THB million, EPS: 3.15",
      "golden_context": "Page 5:\n\nStatement of Income\nStatement of Financial Position Unit: THB million\n2022 2023 2024\nUnit: THB million\n2022 2023 2024\nSales and service revenue 3,367,203 3,144,884 3,090,453\nEarnings before interest, taxes,\ndepreciation and amortization\n(EBITDA) 491,288 426,895 396,234\nProfit attribute to equity holders\nof the company 91,175 112,024 90,072\nSales and Service Revenue\nUnit: THB million\nTotal assets 3,415,632 3,460,462 3,438,784\nTotal liabilities 1,881,939 1,835,486 1,781,907\nShareholders’ equity\n- Equity attributable to owners\nof the company 1,052,591 1,121,198 1,149,652\n- Non-controlling interests of\nthe subsidiaries 481,102 503,778 507,225\nExploration\nand Production Business\nGas Business1/\nInternational Trading Business2/\nOil and Retail Business\nPetrochemical\nand Refining Business\nNew Business and Sustainabiity\nOthers\nNet Income\nUnit: THB million\n26%\n14%\n2%\n1% 6%\n2%\n0.2% 6%\n13%\n25%\n3,367,203 3,144,884 38%\n15%\n2022\n2023\n13%\n39%\n27%\n14%\n2%\n0.3% 6%\n3,090,453\n2024\n12%\n39%\nPTT\nExploration\nand Production Affiliates\nOil and Retail Affiliates\nPetrochemical\nand Refining Affiliates\nNew Business\nand Sustainability Affiliates\nOther Affiliates\n22%3/\n1%\n8%\n91,175\n2022\n17% 14%4/ 51%\n4%\n8%\n7%\n112,024\n2023\n22%\n45%\nRemarks:\n1/ Gas Business consists of Gas Business Unit and subsidiaries\n2/ International Trading Business consists of International Trading Business Unit and subsidiaries\n3/ In 2022, net income of other afffiliates mainly came from coal business\n4/ In 2023-2024, net income of other affilaites mainly came from PTT LNG Co., Ltd. (PTTLNG) and PTT International Trading Pte. Ltd. (PTTT)\n23%4/\n6%\n(12%)\n6%\n90,072\n2024\n20%\n57%\n56-1 One Report 2024\nPTT Public Company Limited\nShares or Information about\nCommon Shares\n2022 2023 2024\nFinancial Ratios\n2022 2023 2024\nIssued and paid up\nshare capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 36.85 39.25 40.25\nEarnings per share (THB) 3.20 3.92 3.15\nDividend per share (THB) 2.00 2.00 2.10\nDividend payout ratio (%) 63 51 67\nShare price at the end\nof period (THB) 33.25 35.75 31.75\nStatement of Financial Position Unit: THB million Net profit margin (%) 3.63 4.94 3.67\nNet profit margin (attributable to\nequity holders of the Company) (%) 2.71 3.56 2.91\nReturn on equity (%) 8.85 10.31 7.93\nReturn on total assets (%) 3.76 4.52 3.29\nDebt to equity1/ (Times) 0.78 0.71 0.67\nNet debt2/ to equity (Times) 0.55 0.44 0.40\nNet debt2/to EBITDA (Times) 1.71 1.67 1.65\nInterest coverage (Times) 13.25 9.41 8.46\nRemarks:\n1/ Debt to equity = Interest bearing debt divided by Total shareholder’s equity\n2/ Net debt = Interest bearing debt (IBD) - Cash and cash equivalents - Short-term\ninvestments in financial assets\nStatement of Cash Flows\nUnit: THB million\n3,415,632 3,460,462 3,438,784\nNet cash provided by operating activities\n2022\n2023\n191,700\n382,045\n875,439\n1,040,863\n1,499,330\n1,533,693 688,346\n1,193,593\n837,514\n1,081,739\n1,161,442\n674,044\n874,390\n1,029,737\n1,541,209\n1,624,976\n1,534,657\n1,656,877\n1,106,196\n675,711\n2024\n373,240\nNet cash used in investing activities\n2022\n2023\n2024\n(186,690)\n(161,245)\n(188,763)\nNet cash provided by (used in) financing activities\n2022\n50,668\n2023\n2024\n(142,159)\n(186,411)\nCash and cash equivalents at the beginning of year3/\n2022\n2023\n2024\n312,730\n340,054\n417,134\n2022 2023 Current Assets\nOther Non-current Assets\nProperty, Plant, and Equipment\n2024\nTrade Payable and Other Liabilities\nInterest Bearing Debt (IBD)\nShareholder's Equity\nCash and cash equivalents at the end of year3/\n2022\n2023\n2024\n340,054\n417,134\n405,139",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_revenue",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue",
      "golden_answer": "Sales and service revenue: 3090453 THB million",
      "golden_context": "Page 5:\n\nStatement of Income\nStatement of Financial Position Unit: THB million\n2022 2023 2024\nUnit: THB million\n2022 2023 2024\nSales and service revenue 3,367,203 3,144,884 3,090,453\nEarnings before interest, taxes,\ndepreciation and amortization\n(EBITDA) 491,288 426,895 396,234\nProfit attribute to equity holders\nof the company 91,175 112,024 90,072\nSales and Service Revenue\nUnit: THB million\nTotal assets 3,415,632 3,460,462 3,438,784\nTotal liabilities 1,881,939 1,835,486 1,781,907\nShareholders’ equity\n- Equity attributable to owners\nof the company 1,052,591 1,121,198 1,149,652\n- Non-controlling interests of\nthe subsidiaries 481,102 503,778 507,225\nExploration\nand Production Business\nGas Business1/\nInternational Trading Business2/\nOil and Retail Business\nPetrochemical\nand Refining Business\nNew Business and Sustainabiity\nOthers\nNet Income\nUnit: THB million\n26%\n14%\n2%\n1% 6%\n2%\n0.2% 6%\n13%\n25%\n3,367,203 3,144,884 38%\n15%\n2022\n2023\n13%\n39%\n27%\n14%\n2%\n0.3% 6%\n3,090,453\n2024\n12%\n39%\nPTT\nExploration\nand Production Affiliates\nOil and Retail Affiliates\nPetrochemical\nand Refining Affiliates\nNew Business\nand Sustainability Affiliates\nOther Affiliates\n22%3/\n1%\n8%\n91,175\n2022\n17% 14%4/ 51%\n4%\n8%\n7%\n112,024\n2023\n22%\n45%\nRemarks:\n1/ Gas Business consists of Gas Business Unit and subsidiaries\n2/ International Trading Business consists of International Trading Business Unit and subsidiaries\n3/ In 2022, net income of other afffiliates mainly came from coal business\n4/ In 2023-2024, net income of other affilaites mainly came from PTT LNG Co., Ltd. (PTTLNG) and PTT International Trading Pte. Ltd. (PTTT)\n23%4/\n6%\n(12%)\n6%\n90,072\n2024\n20%\n57%\n56-1 One Report 2024\nPTT Public Company Limited\nShares or Information about\nCommon Shares\n2022 2023 2024\nFinancial Ratios\n2022 2023 2024\nIssued and paid up\nshare capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 36.85 39.25 40.25\nEarnings per share (THB) 3.20 3.92 3.15\nDividend per share (THB) 2.00 2.00 2.10\nDividend payout ratio (%) 63 51 67\nShare price at the end\nof period (THB) 33.25 35.75 31.75\nStatement of Financial Position Unit: THB million Net profit margin (%) 3.63 4.94 3.67\nNet profit margin (attributable to\nequity holders of the Company) (%) 2.71 3.56 2.91\nReturn on equity (%) 8.85 10.31 7.93\nReturn on total assets (%) 3.76 4.52 3.29\nDebt to equity1/ (Times) 0.78 0.71 0.67\nNet debt2/ to equity (Times) 0.55 0.44 0.40\nNet debt2/to EBITDA (Times) 1.71 1.67 1.65\nInterest coverage (Times) 13.25 9.41 8.46\nRemarks:\n1/ Debt to equity = Interest bearing debt divided by Total shareholder’s equity\n2/ Net debt = Interest bearing debt (IBD) - Cash and cash equivalents - Short-term\ninvestments in financial assets\nStatement of Cash Flows\nUnit: THB million\n3,415,632 3,460,462 3,438,784\nNet cash provided by operating activities\n2022\n2023\n191,700\n382,045\n875,439\n1,040,863\n1,499,330\n1,533,693 688,346\n1,193,593\n837,514\n1,081,739\n1,161,442\n674,044\n874,390\n1,029,737\n1,541,209\n1,624,976\n1,534,657\n1,656,877\n1,106,196\n675,711\n2024\n373,240\nNet cash used in investing activities\n2022\n2023\n2024\n(186,690)\n(161,245)\n(188,763)\nNet cash provided by (used in) financing activities\n2022\n50,668\n2023\n2024\n(142,159)\n(186,411)\nCash and cash equivalents at the beginning of year3/\n2022\n2023\n2024\n312,730\n340,054\n417,134\n2022 2023 Current Assets\nOther Non-current Assets\nProperty, Plant, and Equipment\n2024\nTrade Payable and Other Liabilities\nInterest Bearing Debt (IBD)\nShareholder's Equity\nCash and cash equivalents at the end of year3/\n2022\n2023\n2024\n340,054\n417,134\n405,139",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_revenue_growth",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "revenue_growth",
      "golden_answer": "Sales and service revenue: 3090453 THB million, prior year: 3144884 THB million",
      "golden_context": "Page 5:\n\nStatement of Income\nStatement of Financial Position Unit: THB million\n2022 2023 2024\nUnit: THB million\n2022 2023 2024\nSales and service revenue 3,367,203 3,144,884 3,090,453\nEarnings before interest, taxes,\ndepreciation and amortization\n(EBITDA) 491,288 426,895 396,234\nProfit attribute to equity holders\nof the company 91,175 112,024 90,072\nSales and Service Revenue\nUnit: THB million\nTotal assets 3,415,632 3,460,462 3,438,784\nTotal liabilities 1,881,939 1,835,486 1,781,907\nShareholders’ equity\n- Equity attributable to owners\nof the company 1,052,591 1,121,198 1,149,652\n- Non-controlling interests of\nthe subsidiaries 481,102 503,778 507,225\nExploration\nand Production Business\nGas Business1/\nInternational Trading Business2/\nOil and Retail Business\nPetrochemical\nand Refining Business\nNew Business and Sustainabiity\nOthers\nNet Income\nUnit: THB million\n26%\n14%\n2%\n1% 6%\n2%\n0.2% 6%\n13%\n25%\n3,367,203 3,144,884 38%\n15%\n2022\n2023\n13%\n39%\n27%\n14%\n2%\n0.3% 6%\n3,090,453\n2024\n12%\n39%\nPTT\nExploration\nand Production Affiliates\nOil and Retail Affiliates\nPetrochemical\nand Refining Affiliates\nNew Business\nand Sustainability Affiliates\nOther Affiliates\n22%3/\n1%\n8%\n91,175\n2022\n17% 14%4/ 51%\n4%\n8%\n7%\n112,024\n2023\n22%\n45%\nRemarks:\n1/ Gas Business consists of Gas Business Unit and subsidiaries\n2/ International Trading Business consists of International Trading Business Unit and subsidiaries\n3/ In 2022, net income of other afffiliates mainly came from coal business\n4/ In 2023-2024, net income of other affilaites mainly came from PTT LNG Co., Ltd. (PTTLNG) and PTT International Trading Pte. Ltd. (PTTT)\n23%4/\n6%\n(12%)\n6%\n90,072\n2024\n20%\n57%\n56-1 One Report 2024\nPTT Public Company Limited\nShares or Information about\nCommon Shares\n2022 2023 2024\nFinancial Ratios\n2022 2023 2024\nIssued and paid up\nshare capital (Million Shares) 28,563 28,563 28,563\nBook value per share (THB) 36.85 39.25 40.25\nEarnings per share (THB) 3.20 3.92 3.15\nDividend per share (THB) 2.00 2.00 2.10\nDividend payout ratio (%) 63 51 67\nShare price at the end\nof period (THB) 33.25 35.75 31.75\nStatement of Financial Position Unit: THB million Net profit margin (%) 3.63 4.94 3.67\nNet profit margin (attributable to\nequity holders of the Company) (%) 2.71 3.56 2.91\nReturn on equity (%) 8.85 10.31 7.93\nReturn on total assets (%) 3.76 4.52 3.29\nDebt to equity1/ (Times) 0.78 0.71 0.67\nNet debt2/ to equity (Times) 0.55 0.44 0.40\nNet debt2/to EBITDA (Times) 1.71 1.67 1.65\nInterest coverage (Times) 13.25 9.41 8.46\nRemarks:\n1/ Debt to equity = Interest bearing debt divided by Total shareholder’s equity\n2/ Net debt = Interest bearing debt (IBD) - Cash and cash equivalents - Short-term\ninvestments in financial assets\nStatement of Cash Flows\nUnit: THB million\n3,415,632 3,460,462 3,438,784\nNet cash provided by operating activities\n2022\n2023\n191,700\n382,045\n875,439\n1,040,863\n1,499,330\n1,533,693 688,346\n1,193,593\n837,514\n1,081,739\n1,161,442\n674,044\n874,390\n1,029,737\n1,541,209\n1,624,976\n1,534,657\n1,656,877\n1,106,196\n675,711\n2024\n373,240\nNet cash used in investing activities\n2022\n2023\n2024\n(186,690)\n(161,245)\n(188,763)\nNet cash provided by (used in) financing activities\n2022\n50,668\n2023\n2024\n(142,159)\n(186,411)\nCash and cash equivalents at the beginning of year3/\n2022\n2023\n2024\n312,730\n340,054\n417,134\n2022 2023 Current Assets\nOther Non-current Assets\nProperty, Plant, and Equipment\n2024\nTrade Payable and Other Liabilities\nInterest Bearing Debt (IBD)\nShareholder's Equity\nCash and cash equivalents at the end of year3/\n2022\n2023\n2024\n340,054\n417,134\n405,139",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000585_segments",
      "report_id": "ID_000585",
      "company_name": "PTT Public Company",
      "year": 2024,
      "country": "TH",
      "industry": "Energy",
      "question_type": "segments",
      "golden_answer": "Upstream: petroleum exploration and production; gas; Downstream: oil and retail; international trading; petrochemical and refining; new business and sustainability",
      "golden_context": "Page 105:\n\nSegmentation Performance of PTT Group\nThe details of Revenue, EBITDA and Operating Income by segmentation of 2024 are as follows:\nFigure 2\nSegmentation\nPerformance of\nPTT Group\nUnit: THB million\nREVENUE EBITDA OPERATING INCOME\n2% 0.3%\n6%(0.2%)\n6% (2%)\n12%\n16%\n3%\n21%\n14%\nGas*\nInternational Trading*\nOil and Retail*\nExploration and Production\nPetrochemical and Refining\nNew Business and Sustainability*\nOthers*\nRemarks:\n* Including PTT own operation\nand PTT’s affiliates\n27%\n6%\n1%\n4%\n1%\n5%\n3,090,453\n396,234\n210,316\n39%\n66%\n14%\n59%\nAverage sales volume (BOED2/) 462,007 488,794 5.8\nUpstream Petroleum and Gas Business Group\nPetroleum Exploration and Production Business:\nPTT Exploration and Production Plc. (PTTEP)\n2023 2024 % Inc. (Dec.)\nAverage selling price (USD/BOE1/) 48.2 46.8 (2.9)\nRemarks:\n1/ 2/ BOE: Barrels of Oil Equivalent\nBOED: Barrels of Oil Equivalent per Day\nIn 2024, sales revenue of PTTEP was THB 312,310 million, increased by THB 11,616 million or 3.9% from 2023 as the\noverall average sales volume increased by 5.8% from 462,007 BOED in 2023 to 488,794 BOED in 2024, primarily from G1/61\nProject ramped up the natural gas production to 800 MMSCFD in March 2024, together with the increase in participating\ninterest in Yadana Project following the partner’s withdrawal, effective in April 2024. Meanwhile, the overall average selling\nprice decreased by 2.9% from USD 48.2 per BOE in 2023 to USD 46.8 per BOE in 2024, due to a decline in crude oil selling\nprice following global market price, and lower gas price, primarily from G1/61 and G2/61 Projects.\n56-1 One Report 2024\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nSustainability Performance Highlights\nCorporate Governance Highlights\nAwards and Recognition\nMessage of the Chairman and the CEO\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n208 / Section 1\nBusiness Operations and Performance 4. Management Discussion and Analysis (MD&A) /56-1 One Report 2024\nPTT Public Company Limited\nUnit: Ton EBITDA in 2024 was THB 234,368 million, increased by THB 3,067 million or 1.3% from 2023 mainly due to an increase\nin sales revenue as aforementioned. Although, operating expenses increased, primarily due to higher maintenance activities\nfrom G1/61, Arthit and Malaysia Projects. However, the operating income in 2024 was THB 139,546 million, decreased by\nTHB 7,026 million or 4.8% from 2023 due to depreciation, depletion, and amortization increased primarily from G1/61 Project\ndue to higher sales volume, along with Zawtika and S1 Projects that had additional completed assets.\nThe overall performance of Exploration and Production business increased despite the decrease in operating income\nas aforementioned. As of 2023, there was a loss recognition of non-recurring items after tax of approximately THB 4,100 million.\nWhile in 2024, there was a loss of approximately THB 2,000 million (Details as per non-recurring items table). Moreover,\nincome taxes decreased mainly from projects in Thailand and Malaysia.\nGas Business Group\nThe details of all product sales volume from GSPs are as follows:\n2023 2024 % Inc. (Dec.)\nLPG 3,288,262 3,440,783 4.6\nThe details of reference product prices of GSPs are as follows:\nUnit: USD per Ton 2023 2024 LPG1/ 572 609 6.5\nEthane 1,786,823 1,773,799 (0.7)\nPropane 1,028,237 996,633 (3.1)\nNGL 500,264 571,801 14.3\nPentane 50,965 45,056 (11.6)\nTotal 6,654,551 6,828,072 2.6\nUtilization Rate (%) 75.8% 83.6% 7.8\n% Inc. (Dec.)\nLDPE2/ 1,041 1,182 13.5\nLLDPE2/ 1,014 1,026 1.2\nHDPE2/ 1,044 1,014 (2.9)\nPropane1/ 575 610 6.1\nRemarks:\n1/ 2/ Global Gas Price (Contract Price Saudi Aramco) as a reference for selling price of petrochemical customers, LPG calculated from\nthe proportion of Propane and Butane by 50 : 50\nSoutheast Asia – Spot Price\n209 / Section 1\nBusiness Operations and Performance /56-1 One Report 2024\n4. Management Discussion and Analysis (MD&A)\nPTT Public Company Limited\nIn 2024, Gas business reported sales revenue of THB 579,509 million, a decreased of THB 76,169 million or 11.6%.\nThis decline was primarily driven by a reduction in sales revenue from S&T business, as the average selling price decreased\nin line with the pool gas price which was effective since January 1, 2024 and the adjustment of natural gas supply\nmargin rate in accordance with the resolution of ERC which effective since March 1, 2024. Furthermore, the average selling\nprice to industrial customers declined in accordance with the reference price. Additionally, the average gas sales volume\n(calculated at heating value of 1,000 BTU per cubic feet) decreased by 43 MMSCFD from 4,448 MMSCFD in 2023\nto 4,405 MMSCFD in 2024 or 1.0%. The decline was mainly attributed to the LNG import by new shippers and higher\nelectricity imported from hydropower plants by power plant customers compared to previous year.\nWhile GSP business experienced an increase in sales revenue due to a rise in average selling price following most petrochemical\nreference prices. Moreover, the overall sales volume of GSP products (including NGL derived from Dew Point Control units)\nincreased from 6,654,551 tons in 2023 to 6,828,072 tons in 2024 or 2.6%. This increase was mainly driven by higher supply\nof gulf gas, from G1/61 Project, along with higher demand for LPG. Furthermore, TM business has generated an increase in\nrevenue due to higher pipeline reserved volume from GSP and power plant customers.\nIn 2024, EBITDA of Gas business was reported at THB 62,844 million, decreased by THB 3,180 million or 4.8%. The operating\nprofit was reported at THB 43,189 million, decreased by THB 2,691 million or 5.9%. This reduction was mainly due to GSP\nbusiness experiencing a decline in gross profit as a result of higher costs from the implementation of the Single Pool Gas\npolicy for gas price calculation in this year. Although the average selling price and sales volume increased as aforementioned.\nMeanwhile, NGV and S&T businesses recorded an increase in gross profit from lower gas costs following a decrease in pool\ngas price. Moreover, TM business has generated higher gross profit due to an increase in pipeline reserved volume, driven by\ncustomer demand as aforementioned. Furthermore, the performance of subsidiaries in gas business group increased mainly\nfrom PTT Natural Gas Distribution Co., Ltd. (PTTNGD) due to lower gas cost following pool gas price and higher average\nselling price following reference price.\nDownstream Petroleum Business Group\nOil and Retail Business Group\n2023 2024 Average Sales Volume* (Unit: Million liters) 27,642 26,415 (4.4)\n% Inc. (Dec.)\nAverage selling price (Unit: USD per barrel)\nGasoline 98.8 93.0 (5.9)\nJet 104.6 95.2 (9.0)\nDiesel 106.4 96.3 (9.5)\nRemark:\n* The average sales volume of domestic oil segment only\nIn 2024, sales revenue of Oil and Retail business group was THB 727,033 million, decreasing by THB 44,382 million or\n5.8% from 2023 mostly from lower average selling price following global oil price. In addition, the overall sales volume\ndecreased by 1,227 million liters or 4.4% from 27,642 million liters or equivalent to 476,347 barrels per day in 2023 to 26,415\nmillion liters or equivalent to 453,958 barrels per day in 2024, mainly from diesel and gasoline. However, Non-Oil business’\nrevenue increased from an increase in sales volume following the branch expansion.\n56-1 One Report 2024\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nSustainability Performance Highlights\nCorporate Governance Highlights\nAwards and Recognition\nMessage of the Chairman and the CEO\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n210 / Section 1\nBusiness Operations and Performance 4. Management Discussion and Analysis (MD&A) /56-1 One Report 2024\nPTT Public Company Limited\nEBITDA in 2024 was THB 18,240 million, decreased from 2023 by THB 3,163 million or 14.8% and the operating income in\n2024 was THB 10,998 million, decreased by THB 3,884 million or 26.1% from 2023, from Oil business’s lower average gross\nmargin per liter and average sales volume, mostly from diesel and gasoline. However, Non-Oil business’s EBITDA increased\nfollowing increasing gross margin.\nThe overall performance of Oil and Retail business group decreased from lower operating income as aforementioned.\nMoreover, there was loss on recognition of non-recurring items after tax of approximately THB 900 million in 2024\n(Details as per non-recurring items table), while there was no such transaction in 2023.\nInternational Trading Business Group\n2023 2024 Average sales volume 105,091 108,061 2.8\nUnit: Million liters % Inc. (Dec.)\nSales revenue of International Trading business in 2024 was THB 1,940,904 million, decreased by THB 91,159 million or\n4.5% from 2023. This decline was driven by lower product selling prices in line with reference oil prices, despite sales volume\nhas increased by 2,970 million liters or 2.8%, from 105,091 million liters or equivalent to 1,811,003 barrels per day in 2023\nto 108,061 million liters or equivalent to 1,857,097 barrels per day in 2024. This growth was driven by an increase in the\nvolume of international trading (out-out trading) of refined products and LNG, supported by the continuous expansion of the\ncustomer base in the Asian region. Meanwhile, LNG and crude oil imports declined.\nEBITDA, adjusted by the impact from foreign exchange rate and derivatives, in 2024 was THB 5,852 million, decreased by\nTHB 3,692 million or 38.7%. Additionally, the operating profit, including the adjustments in 2024 was THB 4,452 million,\ndecreased by THB 3,810 million or 46.1%. This decline was mainly due to a lower margin per unit, driven by a reduction\nin product spreads, especially LPG and petrochemical products, as well as a decrease in sales volume and lower hedging\ngains according to market conditions.\nPetrochemical and Refining Business Group\n2023 2024 Market GRM 7.5 4.5 (40.0)\nUnit: USD per barrel % Inc. (Dec.)\nInventory Gain (Loss) excl. NRV (0.6) (1.0) (66.7)\nHedging Gain (Loss) (0.4) 0.3 > 100.0\nAccounting GRM 6.5 3.8 (41.5)\nRefinery Utilization Rate* (%) 102.4% 102.0% (0.4)\nRemark:\n* From 3 Refineries: TOP, GC, and IRPC\n211 / Section 1\nBusiness Operations and Performance /56-1 One Report 2024\n4. Management Discussion and Analysis (MD&A)\nPTT Public Company Limited\nUnit: USD per Ton 2023 2024 % Inc. (Dec.)\nOlefins\nNaphtha (MOPJ) 649 674 3.9\nHDPE 1,044 1,014 (2.9)\nLDPE 1,041 1,182 13.5\nLLDPE 1,014 1,026 1.2\nPP 1,007 1,033 2.6\nAromatics\nCondensate 679 660 (2.8)\nPX (TW) 1,038 962 (7.3)\nPX (TW) – Condensate 359 302 (15.9)\nBZ 897 984 9.7\nBZ – Condensate 218 324 48.6\nIn 2024, sales revenue of Petrochemical and Refining business was THB 1,352,324 million, increased by THB 8,774 million\nor 0.7% primarily due to Petrochemical business. Sales revenue of Olefins business increased due to the increase in average\nselling price of most PE and PP as well as sales volume increased as result of higher utilization rate. Conversely, sales revenue\nof Aromatics business decreased due to lower average selling price of PX while sales volume increased from higher utilization\nrates to align with market conditions. In addition, there was a maintenance shutdown of GC’s Aromatic plants in 2023.\nHowever, Refining business’s sales revenue decreased from lower average selling price of refined product and sales volume.\nPTT Group refineries’ utilization rates decreased from 102.4% in 2023 to 102.0% in 2024 mainly due to TOP’s unplanned\nshutdown of Crude Distillation Unit 3 (CDU-3) and planned maintenance shutdown of CDU-1 together with preventive\nmaintenance shutdown of GC’s refinery.\nEBITDA of Petrochemical and Refining business in 2024 was THB 53,499 million, decreased by THB 27,141 million or 33.7%\nfrom THB 80,640 million in 2023. There was operating income of THB 6,511 million in 2024, decreased by THB 28,952\nmillion or 81.6% from THB 35,463 million in 2023, details are as follows:\n• Refinery performance decreased due to Market GRM decreased from USD 7.5 per barrel in 2023 to USD 4.5 per barrel\nin 2024 following the decrease in product spreads of diesel, jet fuel and gasoline over crude oil, as well as higher stock\nloss (there was a stock loss of USD 1.0 per barrel in 2024 versus loss of USD 0.6 per barrel in 2023) despite the decrease\nin Crude Premium.\n• Petrochemical performance increased from both Olefins and Aromatics business due to higher product spreads of Ethylene\nand BZ.\nThe overall performance of Petrochemical and Refining business in 2024 decreased compared with 2023 due to the\ndecrease in operating income as aforementioned. In addition, there was a loss on recognition of non-recurring items after\ntax of approximately THB 18,300 million in 2024, while there was a gain of THB 6,100 million in 2023 (Details as per\nnon-recurring items table). However, gain on derivatives increased.\n56-1 One Report 2024\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nSustainability Performance Highlights\nCorporate Governance Highlights\nAwards and Recognition\nMessage of the Chairman and the CEO\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n212 / Section 1\nBusiness Operations and Performance 4. Management Discussion and Analysis (MD&A) /56-1 One Report 2024\nPTT Public Company Limited\nNew Business and Sustainability Group\n2023 2024 Power sales volume (GWh) 15,089 19,223 27.4\n% Inc. (Dec.)\nSteam sales volume (Thousand tons) 13,162 13,626 3.5\nIn 2024, sales revenue of New Business and Sustainability was THB 114,202 million, increased by THB 562 million or 0.5%\nmainly from GPSC’s Independent Power Producer (IPP) power plants of which Energy Payment (EP) revenue increased from\nhigher dispatch volume to EGAT, despite the decrease in total revenue of Small Power Producer (SPP) power plants from lower\naverage electricity and steam selling prices following the decreases in fuel adjustment charge (Ft) and natural gas prices.\nEBITDA in 2024 was THB 25,248 million, increased by THB 1,912 million or 8.2% and the operating income in 2024\nwas THB 11,766 million, increased by THB 1,847 million or 18.6% mainly from higher gross profit of GPSC’s SPP\npower plants due to increases in electricity and steam sales volume, together with Ft that has better reflected the energy cost.\nThe overall performance of New Business and Sustainability in 2024 increased compared with 2023, mainly from\nthe recognition of gain on PTTGM’s non-recurring items after tax approximately THB 3,400 million in 2024, while there was\nloss of THB 500 million in 2023 (Details as per non-recurring items table). Also, the operating income increased\nas aforementioned.\nAssets\nAs of December 31, 2024, total assets of PTT Group were THB 3,438,784 million, decreased by THB 21,678 million or 0.6%\ncompared with December 31, 2023 from the followings;\n• Cash and short-term investments increased by THB 1,605 million or 0.4% primarily from short-term investment in financial\nassets of PTT Group.\n• Trade receivables and other current assets decreased by THB 53,607 million or 8.5% mainly from the followings;\n• Inventories decreased by THB 23,666 million due to lower sales volume and selling prices, mainly from TOP, GPSC,\nand GC.\n• Other current receivables decreased by THB 14,657 million mainly from PTTEP, PTT, and GC.\n• Trade receivables decreased by THB 8,422 million due to decrease in sales volume and selling prices mainly from\nPTTT and PTTT LDN.\n• Assets held for sale decreased by THB 5,931 million mainly from the divestment of AMOLH of PTTGM.\n• Other non-current assets increased by THB 36,876 million or 4.4% mainly from;\n• Long-term lending increased by THB 36,724 million mainly from an increase in long-term loans from Renewable\nEnergy Seagreen Holdco Limited (RESH) of PTTEP and PE LNG of PTT TCC.\n• Long-term investments increased by THB 5,514 million mainly from other long-term investments of PTTGM and GPSC\nas its fair value increased.\n• Deferred tax assets increased by THB 4,346 million primarily from deferred tax on prepayments for decommissioning\ncosts of PTTEP’s G1/61 Project.\n• Goodwill decreased by THB 4,823 million mainly from currency translation differences of GC.\n• Property, Plant, and Equipment (PPE) decreased by THB 6,552 million or 0.4% mainly from the disposal of LMPT2 assets\nof PTTLNG to PE LNG whose investment status had changed from subsidiary to joint venture and impairment loss on\nassets of Vencorex of GC offset with additional investments in G1/61, G2/61 and Ghasha Projects of PTTEP.\n213 / Section 1\nBusiness Operations and Performance /56-1 One Report 2024\n4. Management Discussion and Analysis (MD&A)\nPTT Public Company Limited\nThe Analysis of PTT Group Consolidated Financial Position As of December 31, 2024,\ncompared with December 31, 2023\nFigure 3\nAnalysis Financial\nStatus PTT\nand Subsidiaries\nUnit: THB million\nAssets\nCash & Short-term investment\nTrade Receivables & Other\nCurrent Assets\nOthers Non-Current Assets\nProperty, Plant and Equipment\nLiabilities & Equity\nOther Liabilities\nInterest-Bearing Debt\n(including current portion)\nEquity\n4,000,000\n3,500,000\n3,000,000\n2,500,000\n2,000,000\n1,500,000\n1,000,000\n500,000\n0\n-0.6%\n3,460,462 3,460,462\n3,438,784 3,438,784\n449,526\n451,131\n674,044\n675,711\n632,213\n578,606\n1,161,442\n1,106,196\n837,514 874,390\n1,541,209\n1,534,657\n1,624,976\n1,656,877\nDec. 31,\n2023\nDec. 31,\n2024\nDec. 31,\n2023\nDec. 31,\n2024\nAssets Liabilities & Equity\nLiabilities\nAs of December 31, 2024, PTT Group had total liabilities of THB 1,781,907 million, decreased by THB 53,579 million or\n2.9% from December 31, 2023, mainly from the followings;\n• Interest-bearing debt decreased by THB 55,246 million or 4.8% mainly from decreases in long-term borrowings by THB\n68,702 million mainly from repayments of borrowings and debentures of GC, PTT, and TOP including currency translation\ndifference. Meanwhile, long-term borrowings increased from issuances of debentures and additional borrowings taken\nof GPSC, GC, IRPC, and TOP. Short-term borrowings also increased by THB 7,910 million mainly from PTTT, TOP and\nIRPC. Lease liabilities increased by THB 5,546 million primarily from GC, and PTTEP.\n• Other liabilities increased by THB 1,667 million or 0.2% mainly from;\n• Long-term provision for decommissioning costs increased by THB 14,363 million mainly from PTTEP.\n• Liabilities classified as held for sale decreased by THB 2,865 million from the divestment of AMOLH of PTTGM.\n• Trade payables decreased by THB 3,192 million due to lower purchase volume and prices.\n• Deferred tax liabilities decreased by THB 6,276 million mainly from transferring to deferred tax assets of PTTEP’s\nG1/61 Project.\n56-1 One Report 2024\nPTT Public Company Limited\nContents\nVision, Mission and PTT Values\nPTT Information\nFinancial Highlights\nAchievement Highlights\nSustainability Performance Highlights\nCorporate Governance Highlights\nAwards and Recognition\nMessage of the Chairman and the CEO\nEconomic, Petroleum\nand Petrochemical Review and Outlook\nSection 1\nBusiness Operations and Performance\n1. Structure and Business Operations\nof PTT Group\n2. Risk Management\n3. Driving Business towards Sustainability\n4. Management Discussion and Analysis\n(MD&A)\n5. General Information\nand Other Important Information\nSection 2\nCorporate Governance\nSection 3\nFinancial Report\nAttachment\n214 / Section 1\nBusiness Operations and Performance 4. Management Discussion and Analysis (MD&A) /56-1 One Report 2024\nPTT Public Company Limited\nEquity\nAs of December 31, 2024, PTT Group had total shareholders’equity of THB 1,656,877 million increased by THB 31,901\nmillion or 2.0% from December 31, 2023 primarily from net income for the year 2024 amounting to THB 90,072 million,\noffset with dividend payment from the operating results of the second half of 2023 amounting to 1.20 baht per share and\ndividend payment from the operating results of the first half of 2024 amounting to 0.80 baht per share which total amount is\napproximately THB 57,125 million. While other components of shareholders’ equity decreased by 5,367 million mainly from\nexchange differences on translation of PTTEP and GC. Non-controlling interests increased by THB 3,447 million mainly from\nperformances of subsidiaries, offset with dividend payments during the period.\nLiquidity\nFor the year-ended December 31, 2024, PTT Group had net decrease in cash and cash equivalents amounting to THB 11,995\nmillion. There was cash and cash equivalents at the beginning of the period of THB 417,134 million. As a result, cash and\ncash equivalents at the end of the period was THB 405,139 million. Details of cash flow by activities are as follows:\nUnit: THB million\nConsolidated\nFinancial\nStatement\nNet cash provided by operating activities 373,240\nNet cash used in investing activities (188,764)\nNet cash used in financing activities (186,410)\nEffects of exchange rates on cash and cash equivalents (636)\nExchange differences on translation (9,425)\nNet decrease in cash and cash equivalents during the period (11,995)\nCash and cash equivalents at the beginning of the period 417,134\nCash and cash equivalents at the end of the period 405,139\nNet cash provided by operating activities of THB 373,240 million was derived from THB 180,678 million of profit before\nincome taxes, adjusted to net cash provided by operating activities of THB 223,865 million. The increase in cash flow from\noperating activities resulted mainly from THB 185,918 million of depreciation and amortization expenses, THB 46,821\nmillion of finance costs, THB 8,470 million of loss on impairment of assets, THB 7,406 million of loss on derivatives and\nTHB 6,668 million of share of loss from investments in joint ventures and associates. The decrease in cash flow from operating\nactivities mainly resulted from THB 18,172 million of interest income, THB 5,723 million of gain on disposal of investments,\nTHB 4,661 million of gain on disposal of assets and THB 4,487 million of unrealized gain on fair value of commodity contracts\nand the change in net operating assets resulted in the increase in cash flow of THB 42,491 million while there were income\ntaxes paid of THB 73,794 million.\n215 / Section 1\nBusiness Operations and Performance /56-1 One Report 2024\n4. Management Discussion and Analysis (MD&A)\nPTT Public Company Limited\nNet cash used in investing activities was THB 188,764 million mainly resulted from the followings;\n• The cash outflow of investments in property, plant and equipment, investment property, intangible assets, and exploration\nand evaluation assets amounting to THB 174,053 million mainly from the investment in exploration and production assets\nin G1/61, G2/61, S1, Zawtika, Seagreen Offshore Wind Farm and Ghasha Projects of PTTEP, as well as the investment in\nGSP#7, Bang Pakong-South Bangkok power plant transmission pipeline, the 5th transmission pipeline and ERP system\nprojects of PTT, investment projects of GC, and CFP of TOP.\n• The cash outflow from short-term and long-term lending amounting to 20,076 million mainly from PTTEP.\n• The increase in short-term investments in financial assets amounting to THB 18,194 million mainly from bank deposit\nand short-term investment in debt instruments of PTT, TOP and PTTEP.\n• Interests and dividends received amounting to THB 21,807 million mainly from PTTEP, GC, and PTT.\nNet cash used in financing activities was THB 186,410 million mainly from the followings;\n• Dividend payment amounting to THB 82,234 million mainly from PTT, PTTEP, and TOP.\n• The net cash outflow of short-term and long-term borrowings amounting to THB 57,494 million mainly from PTT, GC,\nand PTTEP.\n• Finance costs paid amounting to THB 42,851 million mainly from GC, PTT, and TOP.\n• Payment for treasury share of subsidiaries amounting to THB 3,869 million mainly from treasury shares of Innobic\nHong Kong Holdingco Ltd. of PTTGM.\n4.2 Factors That May Impact Future Operations\n4.2.1 Factors on Environmental and Social Trends and Impact\nPTT identifies impacts, including risks and opportunities arising from the organization’s activities, operations, products,\nand services across the value chain, which may have both positive and negative effects on stakeholders in three dimensions:\nenvironmental, social, and governance. This includes not only human rights issues, but also internal and external\nfactors such as trends, directions, and changes in relevant standards and practices. Every year, PTT conducts a comprehensive\nMateriality Assessment based on the Double Materiality principle to strategically prioritize Material Topics for systematic\nintegrated management within the organization. Previously, PTT has integrated key sustainability issues into its strategic\nplanning and risk assessment procedures. In 2024, one of the sustainability Material Topics is climate change, which has\ninvolved risk and opportunity analysis as well as impact assessment in various areas, including finance. This was done through\nthe Climate Scenario Analysis process according to the Recommendation of the Task Force on Climate-related Financial\nDisclosure (TCFD). The risk analysis during the transition to a low-carbon society period found that, in the medium term\nby 2030, PTT may be affected by carbon tax imposition and the government’s Emission Trading System (ETS). At the\nsame time, there may be positive factors",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_cash_flow",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 221854k, investing: -695834k, financing: 1134191k",
      "golden_context": "Page 147:\n\nPORAN ARUS KAS\nStatements of Cash Flow\n(dalam ribuan US$) KINERJA 2021\n(in thousands of US$)\nMANAJEMEN\nUraian 2021 2020 2019 Description\nArus Kas dari Aktivitas Operasi 221.854 388.412 238.133 Cash Flows from Operating Activities\nArus Kas dari Aktivitas Investasi (695.834) (111.604) (411.870) Cash Flows from Investing Activities\nArus Kas dari Aktivitas Pendanaan 1.134.191 (18.049) 107.181 Cash Flows from Financing Activities\nKenaikan (Penurunan) Bersih Kas dan\nSetara Kas\n660.211 258.759 (66.556) Net Increase (Decrease) in Cash\nand Cash Equivalents\nKas dan Setara Kas Awal Tahun 918.917 660.158 726.714 Cash and Cash Equivalents\nat Beginning of Year\nKas dan Setara Kas Akhir Tahun 1.579.128 918.917 660.158 Cash and Cash Equivalents\nat End of Year\nPERUSAHAAN\nANALISIS MANAJEMEN\nPERUSAHAAN\nMANUSIA\nSOSIAL PERUSAHAAN\nKas bersih yang diperoleh Perseroan dari aktivitas operasi\nberkurang 42,88% dibandingkan tahun 2020, yaitu dari\nUS$388,42 juta, menjadi US$221,85 juta. Penurunan\ntersebut disebabkan adanya peningkatan pembayaran\nkepada pemasok yang sejalan dengan peningkatan\nproduksi, pembayaran utang pajak yang lebih tinggi dan\npenurunan penerimaan dari restitusi pajak.\nKas bersih yang digunakan pada aktivitas investasi untuk\ntahun 2021 tercatat sebesar US$695,83 juta. Dibandingkan\nposisi tahun 2020 dimana kas bersih yang digunakan untuk\naktivitas investasi sebesar US$111,60 juta, terjadi kenaikan\nsebesar 523,48%. Hal itu terutama karena adanya investasi\nyang lebih tinggi pada deposito berjangka dengan jatuh\ntempo di atas tiga bulan dan pada surat berharga.\nSementar",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_company_type",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Perseroan Terbatas (PT)",
      "golden_context": "Page 1:\n\nSTRATEGIC\nPARTNERSHIP\nFOR A BETTER\nFUTURE\nKEMITRAAN STRATEGIS\nUNTUK MASA DEPAN LEBIH BAIK\nPT Chandra Asri Petrochemical Tbk\nHead Office\nWisma Barito Pacific Tower A Lantai 7\nJl. Let. Jend. S. Parman Kav. 62–63\nJakarta, 11410, Indonesia\nPhone: (62-21) 530 7950\nFax: (62-21) 530 8930\nSite Office\nChandra Asri Plant, Ciwandan Site\nJl. Raya Anyer Km. 123\nCiwandan, Cilegon\nBanten 42447, Indonesia\nPhone: (62-254) 601 501\nFax: (62-254) 601 838/843\nChandra Asri Plant, Puloampel Site\nDesa Mangunreja\nPuloampel, Serang\nBanten 42456, Indonesia\nPhone: (62-254) 57",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_key_financials",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Net revenue: 2580m, EBITDA: 356m, Net profit for the year: 152m",
      "golden_context": "Page 11:\n\nIKHTISAR\nKINERJA 2021\n2021 PERFORMANCE HIGHLIGHTS\nASPEK EKONOMI\nECONOMIC ASPECT\nMANFAAT YANG DITERIMA PERSEROAN\nBenefits Received by the Company\nPENDAPATAN BERSIH (US$ juta)\nNet Revenue (US$ million)\n2021\n2.580\n2,580\n2020\n2019\nEBITDA (US$ juta)\nEBITDA (US$ million)\n2021\n356\n356\n2020\n2019\n1.806\n1.880\n186\n180\nLABA BERSIH TAHUN BERJALAN\n(US$ juta)\nNet Profit for the Year (US$ million)\n2021\n2020\n51,5\n152\n152\n2019\n23\nMANFAAT YANG DIDISTRIBUSIKAN PERSEROAN\nBenefits Distributed by the Company\nPENYALURAN DANA ESG (US$ ribu)\nESG Funding Distribution\n(US$ thousand)\n2021\n5.010\n5,010\nPEMBAYARAN PAJAK\nPENGHASILAN (US$ juta)\nIncome Tax Payment (US$ million)\n2021\n56\n56\n2020\n2019\nPEMBAYARAN KEPADA\nPEMASOK (US$ juta)\nPayment to Supplier (US$ million)\n2021\n2.239\n2,239\n2020\n2019\n15\n54\n1.473\n1.549\nSOSIAL PERUSAHAAN\nOKSIGEN CAIR UNTUK PASIEN ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_revenue",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Net revenue: 2580m",
      "golden_context": "Page 11:\n\nIKHTISAR\nKINERJA 2021\n2021 PERFORMANCE HIGHLIGHTS\nASPEK EKONOMI\nECONOMIC ASPECT\nMANFAAT YANG DITERIMA PERSEROAN\nBenefits Received by the Company\nPENDAPATAN BERSIH (US$ juta)\nNet Revenue (US$ million)\n2021\n2.580\n2,580\n2020\n2019\nEBITDA (US$ juta)\nEBITDA (US$ million)\n2021\n356\n356\n2020\n2019\n1.806\n1.880\n186\n180\nLABA BERSIH TAHUN BERJALAN\n(US$ juta)\nNet Profit for the Year (US$ million)\n2021\n2020\n51,5\n152\n152\n2019\n23\nMANFAAT YANG DIDISTRIBUSIKAN PERSEROAN\nBenefits Distributed by the Company\nPENYALURAN DANA ESG (US$ ribu)\nESG Funding Distribution\n(US$ thousand)\n2021\n5.010\n5,010\nPEMBAYARAN PAJAK\nPENGHASILAN (US$ juta)\nIncome Tax Payment (US$ million)\n2021\n56\n56\n2020\n2019\nPEMBAYARAN KEPADA\nPEMASOK (US$ juta)\nPayment to Supplier (US$ million)\n2021\n2.239\n2,239\n2020\n2019\n15\n54\n1.473\n1.549\nSOSIAL PERUSAHAAN\nOKSIGEN CAIR UNTUK PASIEN ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_revenue_growth",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Net revenue: 2580m, prior year: 1806m",
      "golden_context": "Page 11:\n\nIKHTISAR\nKINERJA 2021\n2021 PERFORMANCE HIGHLIGHTS\nASPEK EKONOMI\nECONOMIC ASPECT\nMANFAAT YANG DITERIMA PERSEROAN\nBenefits Received by the Company\nPENDAPATAN BERSIH (US$ juta)\nNet Revenue (US$ million)\n2021\n2.580\n2,580\n2020\n2019\nEBITDA (US$ juta)\nEBITDA (US$ million)\n2021\n356\n356\n2020\n2019\n1.806\n1.880\n186\n180\nLABA BERSIH TAHUN BERJALAN\n(US$ juta)\nNet Profit for the Year (US$ million)\n2021\n2020\n51,5\n152\n152\n2019\n23\nMANFAAT YANG DIDISTRIBUSIKAN PERSEROAN\nBenefits Distributed by the Company\nPENYALURAN DANA ESG (US$ ribu)\nESG Funding Distribution\n(US$ thousand)\n2021\n5.010\n5,010\nPEMBAYARAN PAJAK\nPENGHASILAN (US$ juta)\nIncome Tax Payment (US$ million)\n2021\n56\n56\n2020\n2019\nPEMBAYARAN KEPADA\nPEMASOK (US$ juta)\nPayment to Supplier (US$ million)\n2021\n2.239\n2,239\n2020\n2019\n15\n54\n1.473\n1.549\nSOSIAL PERUSAHAAN\nOKSIGEN CAIR UNTUK PASIEN ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000590_segments",
      "report_id": "ID_000590",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2021,
      "country": "ID",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Olefins, Polyolefins, Styrene Monomer, Butadiene & by-products, Butene-1 & MTBE & by-products",
      "golden_context": "Page 139:\n\nEALISASI PRODUKSI\nProduction Realization\nIKHTISAR\nKINERJA 2021\nLAPORAN\nMANAJEMEN\nSegmen\nSegment\nProduk Sampingan\nBy-products\nVolume Produksi (KT)\nProduction Volume (KT) 2021 2020\nPerubahan (%)\nChanges (%)\nOlefins Ethylene 864 867 0,3\nPropylene 482 489 -1,6\nPy-Gas 275 272 1,1\nMixed C4 270 296 -8,0\nPolyolefins Polyethylene 692 692 0\nPolypropylene 543 589 -7,9\nStyrene Monomer 302 236 27,8\nButadiene & by-products 268 265 1,4\nButene-1 & MTBE & by-products 139 56 147,5\nJumlah Volume Produksi\n3.835 3.763 2,0\nPROFIL\nPERUSAHAAN\nPEMBAHASAN DAN\nANALISIS MANAJEMEN\nTotal Production Volume\nKINERJA PENJUALAN\nSecara volume, penjualan produk Perseroan pada tahun\n2021 mencapai 2.211 KT, menurun 0,5% dibandingkan tahun\n2020 yang sebesar 2.222 KT. Penurunan itu dikarenakan\nadanya Turn Around Maintenance di pabrik Polypropylene\nPerseroan. Namun demikian, produk Polyolefins tetap\nmenyumbangkan volume penjualan terbesar pada tahun\n2021 sama seperti pada tahun 2020.\nREALISASI PENJUALAN\nSales Realization\nSALES PERFORMANCE\nIn terms of volume, the Company’s product sales in 2021\nreached 2,211 KT, a decrease of 0.5% compared to 2020\nwhich was 2,222 KT. The decrease was due to the Turn\nAround Maintenance at the Company’s Polypropylene\nplant. However, Polyolefins products still contributed the\nlargest sales volume in 2021 as in 2020.\nTATA KELOLA\nPERUSAHAAN\nSUMBER DAYA\nMANUSIA\nSegmen\nSegment\nProduk Samping",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_cash_flow",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -249400k, investing: -290993k, financing: 365238k",
      "golden_context": "Page 146:\n\nS$2.932,47 juta. Kondisi ini disebabkan oleh rugi\nkomprehensif tahun berjalan serta pembayaran dividen tunai\ntahun berjalan.\nLaporan Arus Kas\nStatements of Cash Flows\nEQUITY\nThe Company’s total equity on December 31, 2022, was\nUS$2,809.11 million, lower by 4.21% compared to 2021 which\nwas US$2,932.47 million. This condition was caused by\ncurrent year’s comprehensive loss as well as payment of cash\ndividends in current year.\n(dalam ribuan US$)\n(in thousands of US$)\nUraian\nDescription 2022 2021 2020\nArus Kas dari Aktivitas Operasional\nCash Flows from Operating Activities (249.400) 221.854 388.412\nArus Kas dari Aktivitas Investasi\nCash Flows from Investing Activities (290.993) (695.834) (111.604)\nArus Kas dari Aktivitas Pendanaan\nCash Flows from Financing Activities 365.238 1.134.191 (18.049)\n(Penurunan) Kenaikan Bersih Kas dan Setara Kas\nNet Increase (Decrease) in Cash and Cash Equivalents (175.155) 660.211 258.759\nKas dan Setara Kas Awal Tahun\nCash and Cash Equivalents at Beginning of Year 1.579.128 918.917 660.158\nKas dan Setara Kas Akhir Tahun\nCash and Cash Equivalents at End of Year 1.403.973 1.579.128 918.917\nKas bersih Perseroan yang diperoleh dari aktivitas operasional\nberkurang 212,42% dibandingkan tahun 2021, yaitu dari\nUS$222 juta menjadi US$249,4 juta. Penyebab perubahannya\nadalah lebih tingginya pembayaran kepada pemasok, Direksi,\ndan karyawan di tahun berjalan dibandingkan 20",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_company_type",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Perseroan Terbatas (PT)",
      "golden_context": "Page 1:\n\nENHANCING,\nSTRENGTHENING, AND\nGROWING EXCELLENCE\nMeningkatkan, Memperkuat,\ndan Menumbuhkan Keunggulan\nPT Chandra Asri Petrochemical Tbk",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_key_financials",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "2384591k, gross profit: -10954k, basic EPS: -0.0021, EBITDA: 5263k",
      "golden_context": "Page 14:\n\nKHTISAR KEUANGAN 2022\n2022 FINANCIAL HIGHLIGHTS\n(dalam ribuan US$ | in thousands of US$)\nUraian 2022 2021* 2020 Description\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain\nKonsolidasian\nConsolidated Statements of Profit Loss and Other\nComprehensive Income\nPendapatan 2.384.591 2.580.425 1.806.444 Revenues\nBeban Pokok Pendapatan (2.395.545) (2.235.404) (1.641.322) Cost of Revenues\n(Rugi) Laba Bruto (10.954) 345.021 165.122 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (149.399) 151.869 51.542 (Loss) Profit for the Year\nDiatribusikan kepada\nPemilik Entitas Induk (149.538) 151.986 51.352 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (117) 190 Non-Controlling Interests\nAttributable to\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (109.418) 152.155 51.716 Total Comprehensive (Loss) Income\nfor the Year\nDiatribusikan kepada\nPemilik Entitas Induk (109.557) 152.266 51.530 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (111) 186 Non-Controlling Interests\nAttributable to\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0021) 0,0021 0,0026 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 5.263 356.185 186.683 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 4.929.871 4.993.060 3.593.707 Total Assets\nJumlah Liabilitas 2.120.765 2.060.588 1.777.538 Total Liabilities\nJumlah Ekuitas 2.809.106 2.932.472 1.816.169 Total Equity\nModal Kerja Bersih 1.673.861 1.994.591 638.332 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) -0,5 13,4 9,1 Gross Profit Margin (%)\nMarjin Laba Bersih (%) -6,3 5,9 2,9 Net Profit Margin (%)\nRasio Kas (X) 2,3 2,2 1,1 Cash Ratio (X)\nRasio Lancar (X) 3,8 3,1 1,7 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,8 0,7 1,0 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,4 0,5 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,3 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) -3,0 3,0 1,5 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) -5,3 7,4 2,9 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap\nPendapatan/Penjualan (%) -6,3 5,9 0,5 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_revenue",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Revenues: 2384591k",
      "golden_context": "Page 14:\n\nKHTISAR KEUANGAN 2022\n2022 FINANCIAL HIGHLIGHTS\n(dalam ribuan US$ | in thousands of US$)\nUraian 2022 2021* 2020 Description\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain\nKonsolidasian\nConsolidated Statements of Profit Loss and Other\nComprehensive Income\nPendapatan 2.384.591 2.580.425 1.806.444 Revenues\nBeban Pokok Pendapatan (2.395.545) (2.235.404) (1.641.322) Cost of Revenues\n(Rugi) Laba Bruto (10.954) 345.021 165.122 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (149.399) 151.869 51.542 (Loss) Profit for the Year\nDiatribusikan kepada\nPemilik Entitas Induk (149.538) 151.986 51.352 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (117) 190 Non-Controlling Interests\nAttributable to\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (109.418) 152.155 51.716 Total Comprehensive (Loss) Income\nfor the Year\nDiatribusikan kepada\nPemilik Entitas Induk (109.557) 152.266 51.530 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (111) 186 Non-Controlling Interests\nAttributable to\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0021) 0,0021 0,0026 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 5.263 356.185 186.683 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 4.929.871 4.993.060 3.593.707 Total Assets\nJumlah Liabilitas 2.120.765 2.060.588 1.777.538 Total Liabilities\nJumlah Ekuitas 2.809.106 2.932.472 1.816.169 Total Equity\nModal Kerja Bersih 1.673.861 1.994.591 638.332 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) -0,5 13,4 9,1 Gross Profit Margin (%)\nMarjin Laba Bersih (%) -6,3 5,9 2,9 Net Profit Margin (%)\nRasio Kas (X) 2,3 2,2 1,1 Cash Ratio (X)\nRasio Lancar (X) 3,8 3,1 1,7 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,8 0,7 1,0 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,4 0,5 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,3 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) -3,0 3,0 1,5 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) -5,3 7,4 2,9 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap\nPendapatan/Penjualan (%) -6,3 5,9 0,5 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_revenue_growth",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 2384591k, prior year: 2580425k",
      "golden_context": "Page 14:\n\nKHTISAR KEUANGAN 2022\n2022 FINANCIAL HIGHLIGHTS\n(dalam ribuan US$ | in thousands of US$)\nUraian 2022 2021* 2020 Description\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain\nKonsolidasian\nConsolidated Statements of Profit Loss and Other\nComprehensive Income\nPendapatan 2.384.591 2.580.425 1.806.444 Revenues\nBeban Pokok Pendapatan (2.395.545) (2.235.404) (1.641.322) Cost of Revenues\n(Rugi) Laba Bruto (10.954) 345.021 165.122 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (149.399) 151.869 51.542 (Loss) Profit for the Year\nDiatribusikan kepada\nPemilik Entitas Induk (149.538) 151.986 51.352 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (117) 190 Non-Controlling Interests\nAttributable to\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (109.418) 152.155 51.716 Total Comprehensive (Loss) Income\nfor the Year\nDiatribusikan kepada\nPemilik Entitas Induk (109.557) 152.266 51.530 Attributable to\nOwners of the Company\nDiatribusikan kepada\nKepentingan Non Pengendali 139 (111) 186 Non-Controlling Interests\nAttributable to\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0021) 0,0021 0,0026 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 5.263 356.185 186.683 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 4.929.871 4.993.060 3.593.707 Total Assets\nJumlah Liabilitas 2.120.765 2.060.588 1.777.538 Total Liabilities\nJumlah Ekuitas 2.809.106 2.932.472 1.816.169 Total Equity\nModal Kerja Bersih 1.673.861 1.994.591 638.332 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) -0,5 13,4 9,1 Gross Profit Margin (%)\nMarjin Laba Bersih (%) -6,3 5,9 2,9 Net Profit Margin (%)\nRasio Kas (X) 2,3 2,2 1,1 Cash Ratio (X)\nRasio Lancar (X) 3,8 3,1 1,7 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,8 0,7 1,0 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,4 0,5 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,3 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) -3,0 3,0 1,5 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) -5,3 7,4 2,9 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap\nPendapatan/Penjualan (%) -6,3 5,9 0,5 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000591_segments",
      "report_id": "ID_000591",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2022,
      "country": "ID",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Olefins, Polyolefins, Styrene Monomer, Butadiene, MTBE & Butene-1, Tanks and jetty rental",
      "golden_context": "Page 137:\n\nfasilitas pendukung terintegrasi termasuk jaringan pipa,\ngenerator listrik, boiler, instalasi pengolahan air, tangki\npenyimpanan, dan dermaga. Bisnis penyewaan tangki dan\ndermaga Perseroan dioperasikan anak perusahaan, yaitu PT\nRedeco Petrolin Utama (RPU).\nBerikut adalah segmen usaha Perseroan:\n•\nOlefins (Ethylene, Propylene, Pygas dan Mixed C4);\n•\nPolyolefins (Polyethylene dan Polypropylene);\n•\nStyrene Monomer;\n•\nButadiene;\n•\nMTBE & Butene-1;\n•\nPenyewaan tangki dan dermaga.\nKapasitas Produksi Pabrik\nPlant Production Capacity\nThe Company operates an integrated petrochemical complex\nlocated in Ciwandan, Cilegon in Banten Province. The\ncomplex consists of one Naphtha Cracker, three Polyethylene\ntrains, three Polypropylene trains, one Butadiene plant, one\nMTBE plant, and one Butene-1 plant.\nThe strategic location of the Company's integrated\npetrochemical complex provides easy access to major\ndomestic customers. The supply chain to customers is\nconnected directly to production facilities in Cilegon through\npipelines.\nThe Company's integrated petrochemical complex also has\ntwo Styrene Monomer plants, which are the only ones in\nIndonesia. The plants are located in Pulo Ampel, Serang,\nBanten, about 40 kilometers from the main petrochemical\ncomplex in Cilegon. The Company's petrochemical complex\nprovides integrated supporting facilities including pipelines,\npower generators, boilers, water treatment plants, storage\ntanks and jetties. The Company's tank and jetty rental business\nis operated by a subsidiary, namely PT Redeco Petrolin Utama\n(RPU).\nThe Company’s business segments are as follows:\n•\nOlefins (Ethylene, Propylene, Pygas and Mixed C4);\n•\nPolyolefins (Polyethylene and Polypropylene);\n•\nStyrene Monomer;\n•\nButadiene;\n•\nMTBE & Butene-1;\n•\nTanks and jetty rental.",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_cash_flow",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: 132175k, investing: -414281k, financing: 317930k",
      "golden_context": "Page 164:\n\nLAPORAN ARUS KAS\nSTATEMENTS OF CASH FLOW\n(dalam ribuan US$) | (in thousands of US$)\nDeskripsi\nDescription 2023 Kas bersih Chandra Asri Group dari aktivitas operasional\ntercatat sebesar US$132 juta pada tahun 2023, meningkat\n153% dari tahun 2022 yang merupakan kas yang digunakan\nsekitar US$249 juta. Peningkatan ini disebabkan oleh lebih\nrendahnya pembayaran kepada pemasok, Direksi dan\nkaryawan pada tahun berjalan dibandingkan tahun 2022.\nKas bersih yang digunakan untuk aktivitas investasi untuk\ntahun 2023 tercatat sebesar US$414 juta, lebih tinggi 42,37%\ndibandingkan tahun 2022 sebesar US$291 juta. Perubahan\ntersebut terutama disebabkan oleh aktivitas akuisisi entitas\nanak dan perusahaan asosiasi dalam tahun buku 2023.\nSedangkan kas bersih yang diperoleh dari aktivitas\npendanaan mencapai US$318 juta, turun 12,95% dibandingkan\ntahun 2022 sebesar US$365 juta. Perubahan ini terutama\ndisebabkan oleh peningkatan pembayaran beban keuangan,\npembayaran dividen tunai & peningkatan pembayaran utang\nobligasi, dikurangi dengan penurunan penerimaan utang\nbank & penarikan utang obligasi serta penerimaan investasi\npada saham entitas anak oleh kepentingan non-pengendali\nPerseroan.\n2022 2021\nArus Kas dari Aktivitas Operasional\nCash Flows from (Used in) Operating Activities 132.175 (249.400) 221.854\nArus Kas dari Aktivitas Investasi\nCash Flows Used in Investing Activities (414.281) (290.993) (695.834)\nArus Kas dari Aktivitas Pendanaan\nCash Flows from Financing Activities 317.930 365.238 1.134.191\n(Penurunan) Kenaikan Bersih Kas dan Setara Kas\nNet Increase (Decrease) in Cash and Cash Equivalents 35.824 (175.155) 660.211\nKas dan Setara Kas Awal Tahun\nCash and Cash Equivalents at Beginning of Year 1.403.973 1.579.128 918.917\nChandra Asri Group’s net cash from operational activities\nwas recorded at US$132 million in 2023, an increase of 153%\nfrom 2022, which was cash used around US$249 million. The\nincrease was due to lower payment to suppliers, the Board of\nDirectors and employees in current year compared to 2022.\nKas dan Setara Kas Akhir Tahun\nCash and Cash Equivalents at End of Year 1.439.797 1.403.973 1.579.128\nNet cash used in investing activities for 2023 was recorded at\nUS$414 million, 42.37% higher compared to 2022, which was\nUS$291 million. The changes were mainly due to acquisition\nactivities of subsidiaries and associates in fiscal year 2023.\nMeanwhile, net cash obtained from financing activities\nreached US$318 million, a 12.95% decrease compared to\n2022, which was US$365 million. The changes were mainly\ndue to higher payment for financial charges, payment of\ncash dividend & increase in payment for bonds payable,\nnetted of with the lower receipt of bank loan & bonds\npayable withdrawal and proceeds from investment in shares\nof subsidiary by Company’s non-controlling interest.\nSeiring dengan perubahan-perubahan tersebut, kas dan\nsetara kas yang dibukukan Chandra Asri Group pada akhir\ntahun mencapai US$1.440 juta. Dibandingkan dengan awal\ntahun, terjadi peningkatan sebesar 2,",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_company_type",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Perseroan Terbatas (PT)",
      "golden_context": "Page 3:\n\nSanggahan dan Batasan Tanggung Jawab\nDisclaimer and Scope of Responsibilities\nLaporan Tahunan 2023 PT Chandra Asri Pacific Tbk\n(“Chandra Asri Group”, “Perseroan”) ini disusun untuk\nmemenuhi ketentuan pelaporan hasil kinerja Perseroan\npada periode 1 Januari 2023 sampai dengan 31 Desember\n2023 kepada regulator. Laporan Tahunan ini disusun\nberdasarkan Peraturan Otoritas Jasa Keuangan No. 29/\nPOJK.04/2016 tentang Laporan Tahunan Emiten atau\nPerusahaan Publik dengan muatan konten sesuai Surat\nEdaran Otoritas Jasa Keuangan No. 16/SEOK.04/2021\ntentang Bentuk dan Isi Laporan Tahunan Emiten atau\nPerusahaan Publik.\nLaporan Tahunan ini memuat pernyataan terkait tujuan,\nkebijakan, rencana, strategi, serta realisasi kinerja\noperasional dan keuangan yang disusun berdasarkan\ndata faktual yang dapat dipertanggungjawabkan\nkebenarannya. Sedangkan, pernyataan-pernyataan\nprospektif dalam Laporan Tahunan ini dibuat berdasarkan\nberbagai asumsi mengenai kondisi terkini dan kondisi\nmendatang Perseroan, serta lingkungan bisnis yang\nterkait, sehingga dapat mengakibatkan perkembangan\naktual secara material berbeda dari yang dilaporkan. Oleh\nkarena itu, Perseroan tidak menjamin bahwa pernyataan\natau informasi prospektif tersebut menjadi dasar utama\ndalam pengambilan keputusan ataupun akan membawa\nhasil tertentu sesuai harapan.\nLaporan Tahunan ini disajikan dalam 2 (dua) bahasa,\nyaitu Bahasa Indonesia dan Bahasa Inggris yang mudah\ndibaca dan dapat diunduh di situs resmi Perseroan, yaitu:\nhttps://www.chandra-asri.com.\nThe 2023 Annual Report of PT Chandra Asri Pacific Tbk\n(later stated as the Company) is prepared in order to\ncomply with the reporting regulatory requirements to\nreport the Company’s performance for the period from\n1 January 2023 to 31 December 2023. The Annual Report\nis prepared according to Financial Services Authority\nRegulation No. 29/POJK.04/2016 on Annual Report of\nIssuers or Public Companies with the contents as outlined\nin Financial Services Authority Circular Letter No. 16/\nSEOK.04/2021 concerning the Form and Contents of\nAnnual Report of Issuers and Public Companies Reports.\nThis Annual Report contains statements about the\nCompany’s objectives, policies, plans, and strategies, as\nwell as its operational and financial results, which are\nbased on verifiable facts. Meanwhile, the forward-looking\nstatements contained in this Annual Report are based\non assumptions about the Company’s current and future\nconditions, as well as the related business environment,\nand therefore, actual developments may be materially\ndifferent from the reported information. Therefore, the\nCompany shall have no obligation to guarantee that the\naforementioned statements and information will become\nthe basis of decision-making or will produce specific\nresults as expected.\nThis Annual Report is presented in ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_key_financials",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 2159932k, gross profit: 81830k, basic EPS: -0.0005",
      "golden_context": "Page 19:\n\nIKHTISAR KEUANGAN 2023\n2023 Financial Highlights\nUraian 2023 2022 2021* Description\nLaporan Laba Rugi dan\nPenghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and\nOther Comprehensive Income\nPendapatan 2.159.932 2.384.591 2.580.425 Revenues\nBeban Pokok Pendapatan (2.078.102) (2.395.545) (2.235.404) Cost of Revenues\n(Rugi) Laba Bruto 81.830 (10.954) 345.021 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (31.547) (149.399) 151.869 (Loss) Profit for the Year\nDiatribusikan kepada Pemilik Entitas Induk (33.576) (149.538) 151.986 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 2.029 139 (117) Attributable to Non-Controlling Interests\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (34.043) (109.418) 152.155 Total Comprehensive (Loss) Income for the\nYear\nDiatribusikan kepada Pemilik Entitas Induk (36.009) (109.557) 152.266 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 1.966 139 (111) Attributable to Non-Controlling Interests\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0005) (0,0021) 0,0021 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 129.968 5.263 356.185 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 5.614.452 4.929.871 4.993.060 Total Assets\nJumlah Liabilitas 2.620.552 2.120.765 2.060.588 Total Liabilities\nJumlah Ekuitas 2.993.900 2.809.106 2.932.472 Total Equity\nModal Kerja Bersih 2.020.098 1.673.861 1.994.591 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) 3,8 (0,5) 13,4 Gross Profit Margin (%)\nMarjin Laba Bersih (%) (1,5) (6,3) 5,9 Net Profit Margin (%)\nRasio Kas (X) 1,8 2,3 2,2 Cash Ratio (X)\nRasio Lancar (X) 3,5 3,8 3,1 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,9 0,8 0,7 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,5 0,4 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,4 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) (0,6) (3,0) 3,0 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) (1,1) (5,3) 7,4 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap Pendapatan/\nPenjualan (%) (1,5) (6,3) 5,9 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_revenue",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Revenues: 2159932k",
      "golden_context": "Page 19:\n\nIKHTISAR KEUANGAN 2023\n2023 Financial Highlights\nUraian 2023 2022 2021* Description\nLaporan Laba Rugi dan\nPenghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and\nOther Comprehensive Income\nPendapatan 2.159.932 2.384.591 2.580.425 Revenues\nBeban Pokok Pendapatan (2.078.102) (2.395.545) (2.235.404) Cost of Revenues\n(Rugi) Laba Bruto 81.830 (10.954) 345.021 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (31.547) (149.399) 151.869 (Loss) Profit for the Year\nDiatribusikan kepada Pemilik Entitas Induk (33.576) (149.538) 151.986 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 2.029 139 (117) Attributable to Non-Controlling Interests\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (34.043) (109.418) 152.155 Total Comprehensive (Loss) Income for the\nYear\nDiatribusikan kepada Pemilik Entitas Induk (36.009) (109.557) 152.266 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 1.966 139 (111) Attributable to Non-Controlling Interests\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0005) (0,0021) 0,0021 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 129.968 5.263 356.185 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 5.614.452 4.929.871 4.993.060 Total Assets\nJumlah Liabilitas 2.620.552 2.120.765 2.060.588 Total Liabilities\nJumlah Ekuitas 2.993.900 2.809.106 2.932.472 Total Equity\nModal Kerja Bersih 2.020.098 1.673.861 1.994.591 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) 3,8 (0,5) 13,4 Gross Profit Margin (%)\nMarjin Laba Bersih (%) (1,5) (6,3) 5,9 Net Profit Margin (%)\nRasio Kas (X) 1,8 2,3 2,2 Cash Ratio (X)\nRasio Lancar (X) 3,5 3,8 3,1 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,9 0,8 0,7 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,5 0,4 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,4 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) (0,6) (3,0) 3,0 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) (1,1) (5,3) 7,4 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap Pendapatan/\nPenjualan (%) (1,5) (6,3) 5,9 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_revenue_growth",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 2159932k, prior year: 2384591k",
      "golden_context": "Page 19:\n\nIKHTISAR KEUANGAN 2023\n2023 Financial Highlights\nUraian 2023 2022 2021* Description\nLaporan Laba Rugi dan\nPenghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and\nOther Comprehensive Income\nPendapatan 2.159.932 2.384.591 2.580.425 Revenues\nBeban Pokok Pendapatan (2.078.102) (2.395.545) (2.235.404) Cost of Revenues\n(Rugi) Laba Bruto 81.830 (10.954) 345.021 Gross (Loss) Profit\n(Rugi) Laba Tahun Berjalan (31.547) (149.399) 151.869 (Loss) Profit for the Year\nDiatribusikan kepada Pemilik Entitas Induk (33.576) (149.538) 151.986 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 2.029 139 (117) Attributable to Non-Controlling Interests\nJumlah (Rugi) Penghasilan\nKomprehensif Tahun Berjalan (34.043) (109.418) 152.155 Total Comprehensive (Loss) Income for the\nYear\nDiatribusikan kepada Pemilik Entitas Induk (36.009) (109.557) 152.266 Attributable to Owners of the Company\nDiatribusikan kepada Kepentingan Non\nPengendali 1.966 139 (111) Attributable to Non-Controlling Interests\n(dalam US$ penuh) Laba (Rugi) Bersih per Saham Dasar\n(0,0005) (0,0021) 0,0021 Basic Earnings (Loss) per Share\n(in full US$ amount)\nEBITDA 129.968 5.263 356.185 EBITDA\nLaporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position\nJumlah Aset 5.614.452 4.929.871 4.993.060 Total Assets\nJumlah Liabilitas 2.620.552 2.120.765 2.060.588 Total Liabilities\nJumlah Ekuitas 2.993.900 2.809.106 2.932.472 Total Equity\nModal Kerja Bersih 2.020.098 1.673.861 1.994.591 Net Working Capital\nRasio Keuangan Financial Ratios\nMarjin Laba Kotor (%) 3,8 (0,5) 13,4 Gross Profit Margin (%)\nMarjin Laba Bersih (%) (1,5) (6,3) 5,9 Net Profit Margin (%)\nRasio Kas (X) 1,8 2,3 2,2 Cash Ratio (X)\nRasio Lancar (X) 3,5 3,8 3,1 Current Ratio (X)\nRasio Liabilitas terhadap Ekuitas (X) 0,9 0,8 0,7 Liability to Equity Ratio (X)\nRasio Liabilitas terhadap Aset (X) 0,5 0,4 0,5 Liability to Assets Ratio (X)\nRasio Utang terhadap Modal (X) 0,4 0,4 0,3 Debt to Capital Ratio (X)\nRasio Laba (Rugi) terhadap Aset (%) (0,6) (3,0) 3,0 Return on Assets Ratio (%)\nRasio Laba (Rugi) terhadap Ekuitas (%) (1,1) (5,3) 7,4 Return on Equity Ratio (%)\nRasio Laba (Rugi) terhadap Pendapatan/\nPenjualan (%) (1,5) (6,3) 5,9 Return on Sales Ratio (%)",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000592_segments",
      "report_id": "ID_000592",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2023,
      "country": "ID",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "Olefins, Polyolefins, Styrene Monomer, Butadiene, MTBE & Butene-1, Tanks and jetty rental",
      "golden_context": "Page 154:\n\nTINJAUAN OPERASIONAL\nPER SEGMEN USAHA\nOperational Overview per Business Segment\nPT Chandra Asri Pacific Tbk (“Chandra Asri Group”,\n“Perseroan”) menentukan segmen usaha dengan mengacu\npada Laporan Keuangan tahun 2023 yang telah diaudit oleh\nKantor Akuntan Publik Imelda dan Rekan. Mengacu pada\nlaporan tersebut, tinjauan operasional per segmen usaha\nChandra Asri Group masih berdasarkan produk, sebagai\nberikut:\n•\nOlefins (Ethylene, Propylene, Pygas dan Mixed C4);\n•\nPolyolefins (Polyethylene dan Polypropylene);\n•\nStyrene Monomer;\n•\nButadiene;\n•\nMTBE & Butene-1;\n•\nPenyewaan Tangki dan Dermaga;\n•\nListrik.\nHingga akhir tahun 2023, Chandra Asri Group terus\nmengoperasikan kompleks petrokimia terintegrasi yang\nberlokasi di Ciwandan, Cilegon, Provinsi Banten. Kompleks\ntersebut terdiri dari 1 (satu) pabrik Naphtha Cracker, 3 (tiga)\nlajur Polyethylene, 3 (tiga) lajur Polypropylene, 1 (satu) satu\npabrik Butadiene, 1 (satu) pabrik MTBE, dan 1 (satu) pabrik\nButene-1.\nPT Chandra Asri Pacific Tbk (“Chandra Asri Group”,\n“Company”) determines business segments by referring to\nthe 2023 Financial Report, which has been audited by the\nPublic Accounting Firm Imelda dan Rekan. Referring to this\nreport, the operational review per business segment of\nChandra Asri Group is still based on products, as follows:\n•\n•\n•\n•\n•\n•\n•\nOlefins (Ethylene, Propylene, Pygas and Mixed C4);\nPolyolefins (Polyethylene and Polypropylene);\nStyrene Monomer;\nButadiene;\nMTBE & Butene-1;\nTanks and Jetty Rental;\nElectricity.\nChandra Asri Group continued to operate an integrated\npetrochemical complex located in Ciwandan, Cilegon, Banten\nProvince, until the end of 2023. The complex consists of 1\n(one) Naphtha Cracker plant, 3 (three) Polyethylene trains, 3\n(three) Polypropylene trains, 1 (one) Butadiene plant, 1 (one)\nMTBE plant, and 1 (one) Butene-1 plant.\nLokasi strategis kompleks petrokimia terintegrasi Perseroan\nmenyediakan akses yang mudah ke pelanggan utama di\ndalam negeri. Rantai pasok menuju pelanggan terhubung\nlangsung dengan fasilitas produksi di Cilegon melalui jalur\npipa.\nKompleks petrokimia terintegrasi Perseroan juga memiliki\n2 (dua) pabrik Styrene Monomer, yang merupakan satu-\nsatunya pabrik Styrene Monomer di Indonesia. Pabrik ini\nThe strategic location of the Company's integrated\npetrochemical complex provides easy access to the main\ndomestic customers. The supply chain to customers is\nconnected directly to production facilities in Cilegon through\npipelines.\nThe Company's integrated petrochemical complex also has\n2 (two) Styrene Monomer plants, which are the only ones\nin Indonesia. The plants are located in Pulo Ampel, Serang,\nPT Chandra Asri Pacific Tbk Laporan Tahunan 2023 Annua",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_cash_flow",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "cash_flow",
      "golden_answer": "Operating: -158995k, investing: -76886k, financing: 162902k",
      "golden_context": "Page 172:\n\ngka panjang, liabilitas keuangan derivatif, dikurangi\ndengan penurunan pada liabilitas pajak tangguhan,\nliabilitas sewa, dan liabilitas imbalan kerja.\nEKUITAS\nTotal ekuitas Chandra Asri Group pada 31 Desember 2024\nsebesar US$2.933 juta, lebih rendah 2,04% dibandingkan\ntahun 2023 sebesar US$2.994 juta. Kondisi ini disebabkan\noleh penurunan pada cadangan lainnya dan juga penurunan\npada saldo laba yang tidak ditentukan penggunaannya\npada tahun berjalan.\nLaporan Arus Kas\nStatements of Cash Flow Meanwhile, the Company’s non-current assets reached\nUS$3,177 million, which was 14.41% higher than the\nprevious year’s US$2,777 million. This change was mainly\ndue to an increase in the Company’s investments in\nassociate entities, property, plant, and equipment, other\nnon-current assets, alongside a decrease in advances for\nthe purchase of property, plant, and equipment, derivative\nfinancial assets and right-of-use assets.\nLIABILITIES\nChandra Asri Group’s liabilities position reached US$2,726\nmillion in 2024, which puts it 4.03% higher than its\nUS$2,621 million of liabilities in 2023. This change was\nmainly due to an increase in the Company’s bank loans\nand bonds payable in the current year.\nThe current liabilities portion of the Company reached\nUS$821 million or around 30.12% of its total liabilities,\nan increase of 0,47% compared to the previous year of\nUS$817 million. This change was mainly due to an increase\nin short-term bank loans, other payables, long-term bank\nloans and bonds payable maturing within one year, as well\nas derivative financial liabilities netted off with a decrease\nin trade payables, tax payables, and customer advances.\nMeanwhile, the Company’s non-current liabilities portion\nreached US$1,905 million, or 69.88% of its total liabilities.\nThis marked an increase of 5.64% compared to the\nprevious year’s US$1,803 million. This change was due\nto an increase in long-term bank loans and derivative\nfinancial liabilities. This was also reduced by a decrease\nin deferred tax liabilities, lease liabilities, and employee\nbenefit liabilities.\nEQUITY\nChandra Asri Group’s total equity as of\n31 December 2024, was US$2,933 million. This put it\n2.04% lower than its equity of US$2,994 million in 2023.\nThis condition was caused by a decrease in other reserves,\nas well as decrease in unappropriated retained earnings in\nthe current year.\nDeskripsi\nDescription 2024 2023 (dalam ribuan US$ | in thousands of US$)\n2022\nArus Kas (Digunakan untuk) Diperoleh dari Aktivitas Operasional\nCash Flows (Used in) Provided by Operating Activities (158.995) 132.175 (249.400)\nArus Kas Digunakan untuk Aktivitas Investasi\nCash Flows Used in Investing Activities (76.886) (414.281) (290.993)\nArus Kas Diperoleh dari Aktivitas Pendanaan\nCash Flows Provided by Financing Activities 162.902 317.930 365.238\nPT Chandra Asri Pacific Tbk | Annual Report 2024 169\nUnleashing\nTransformational Growth Ikhtisar Kinerja 2024\nPerformance Highlights 2024\nMengakselerasi Pertumbuhan Transformasional\nLaporan Manajemen\nManagement Report\nProfil Perusahaan\nCompany Profile\nDeskripsi\nDescription 2024 2023 2022\n(Penurunan) Kenaikan Bersih Kas dan Setara Kas",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_company_type",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "company_type",
      "golden_answer": "Perseroan Terbatas (PT)",
      "golden_context": "Page 3:\n\nNGGAHAN DAN BATASAN\nTANGGUNG JAWAB\nDISCLAIMER AND SCOPE OF RESPONSIBILITIES\nLaporan Tahunan 2024 PT Chandra Asri Pacific Tbk\n(“Chandra Asri Group”, “Perseroan”) ini disusun untuk\nmemenuhi ketentuan pelaporan hasil kinerja Perseroan\npada periode 1 Januari 2024 sampai dengan 31\nDesember 2024 kepada regulator. Laporan Tahunan ini\ndisusun berdasarkan Peraturan Otoritas Jasa Keuangan\nNo. 29/POJK.04/2016 tentang Laporan Tahunan\nEmiten atau Perusahaan Publik dengan muatan konten\nsesuai Surat Edaran Otoritas Jasa Keuangan No. 16/\nSEOJK.04/2021 tentang Bentuk dan Isi Laporan\nTahunan Emiten atau Perusahaan Publik.\nLaporan Tahunan ini memuat pernyataan terkait tujuan,\nkebijakan, rencana, strategi, serta realisasi kinerja\noperasional dan keuangan yang disusun berdasarkan\ndata faktual yang dapat dipertanggungjawabkan\nkebenarannya. Sedangkan, pernyataan-pernyataan\nprospektif dalam Laporan Tahunan ini dibuat\nberdasarkan berbagai asumsi mengenai kondisi terkini\ndan kondisi mendatang Perseroan, serta lingkungan\nbisnis yang terkait, sehingga dapat mengakibatkan\nperkembangan aktual secara material berbeda dari\nyang dilaporkan. Oleh karena itu, Perseroan tidak\nmenjamin bahwa pernyataan atau informasi prospektif\ntersebut menjadi dasar utama dalam pengambilan\nkeputusan ataupun akan membawa hasil tertentu\nsesuai harapan.\nLaporan Tahunan ini disajikan dalam 2 (dua) bahasa,\nyaitu Bahasa Indonesia dan Bahasa Inggris yang mudah\ndibaca dan dapat diunduh di situs resmi Perseroan,\nyaitu: https://www.chandra-asri.com.\nThe 2024 Annual Report of PT Chandra Asri Pacific Tbk\n(hereinafter referred to as \"the Company\") is prepared\nto comply with the reporting regulatory requirements\nto report the Company’s performance for the period\nfrom 1 January 2024 to 31 December 2024. The\nAnnual Report is prepared in accordance to Financial\nServices Authority Regulation No. 29/POJK.04/2016\non Annual Report of Issuers or Public Companies with\nthe contents as outlined in Financial Services Authority\nCircular Letter No. 16/SEOJK.04/2021 concerning the\nForm and Contents of Annual Report of Issuers and\nPublic Companies Reports.\nThis Annual Report contains statements about the\nCompany’s objectives, policies, plans, and strategies,\nas well as its operational and financial results, which\nare based on verifiable facts. Meanwhile, the forward-\nlooking statements contained in this Annual Report are\nbased on assumptions about the Company’s current\nand future conditions, as well as the related business\nenvironment, and therefore, actual developments may\nbe materially different from the reported information.\nTherefore, the Company shall have no obligation to\nguarantee that the aforementioned statements and\ninformation will become the basis of decision-making\nor will produce spe",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_key_financials",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "key_financials",
      "golden_answer": "Revenues: 1785364k, gross profit: 48319k, basic EPS: -0.001",
      "golden_context": "Page 14:\n\nIKHTISAR\nKEUANGAN 2024\n2024 FINANCIAL HIGHLIGHTS\nDalam ribuan US$, kecuali dinyatakan lain\nIn thousands of US$, unless otherwise noted\nUraian\nDescription 2024 2023 2022\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and Other Comprehensive Income\nPendapatan\nRevenues 1.785.364 2.159.932 2.384.591\nBeban Pokok Pendapatan\nCost of Revenues (1.737.045) (2.078.102) (2.395.545)\n(Rugi) Laba Bruto\nGross (Loss) Profit 48.319 81.830 (10.954)\n(Rugi) Laba Tahun Berjalan\n(Loss) Profit for the Year (57.299) (31.547) (149.399)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (69.163) (33.576) (149.538)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 11.864 2.029 139\nJumlah (Rugi) Penghasilan Komprehensif Tahun Berjalan\nTotal Comprehensive (Loss) Income for the Year (63.106) (34.043) (109.418)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (75.171) (36.009) (109.557)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 12.065 1.966 139\nLaba (Rugi) Bersih per Saham Dasar (dalam US$ penuh)\nBasic Earnings (Loss) per Share (in full US$ amount) (0,0010) (0,0005) (0,0021)\nEBITDA 76.057 129.968 5.263\nLaporan Posisi Keuangan Konsolidasian\nConsolidated Statements of Financial Position\nJumlah Aset\nTotal Assets 5.658.866 5.614.452 4.929.871\nJumlah Liabilitas\nTotal Liabilities 2.726.123 2.620.552 2.120.765\nJumlah Ekuitas\nTotal Equity 2.932.743 2.993.900 2.809.106\nModal Kerja Bersih\nNet Working Capital 1.660.390 2.020.098 1.673.861",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_revenue",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue",
      "golden_answer": "Revenues: 1785364k",
      "golden_context": "Page 14:\n\nIKHTISAR\nKEUANGAN 2024\n2024 FINANCIAL HIGHLIGHTS\nDalam ribuan US$, kecuali dinyatakan lain\nIn thousands of US$, unless otherwise noted\nUraian\nDescription 2024 2023 2022\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and Other Comprehensive Income\nPendapatan\nRevenues 1.785.364 2.159.932 2.384.591\nBeban Pokok Pendapatan\nCost of Revenues (1.737.045) (2.078.102) (2.395.545)\n(Rugi) Laba Bruto\nGross (Loss) Profit 48.319 81.830 (10.954)\n(Rugi) Laba Tahun Berjalan\n(Loss) Profit for the Year (57.299) (31.547) (149.399)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (69.163) (33.576) (149.538)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 11.864 2.029 139\nJumlah (Rugi) Penghasilan Komprehensif Tahun Berjalan\nTotal Comprehensive (Loss) Income for the Year (63.106) (34.043) (109.418)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (75.171) (36.009) (109.557)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 12.065 1.966 139\nLaba (Rugi) Bersih per Saham Dasar (dalam US$ penuh)\nBasic Earnings (Loss) per Share (in full US$ amount) (0,0010) (0,0005) (0,0021)\nEBITDA 76.057 129.968 5.263\nLaporan Posisi Keuangan Konsolidasian\nConsolidated Statements of Financial Position\nJumlah Aset\nTotal Assets 5.658.866 5.614.452 4.929.871\nJumlah Liabilitas\nTotal Liabilities 2.726.123 2.620.552 2.120.765\nJumlah Ekuitas\nTotal Equity 2.932.743 2.993.900 2.809.106\nModal Kerja Bersih\nNet Working Capital 1.660.390 2.020.098 1.673.861",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_revenue_growth",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "revenue_growth",
      "golden_answer": "Revenues: 1785364k, prior year: 2159932k",
      "golden_context": "Page 14:\n\nIKHTISAR\nKEUANGAN 2024\n2024 FINANCIAL HIGHLIGHTS\nDalam ribuan US$, kecuali dinyatakan lain\nIn thousands of US$, unless otherwise noted\nUraian\nDescription 2024 2023 2022\nLaporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian\nConsolidated Statements of Profit Loss and Other Comprehensive Income\nPendapatan\nRevenues 1.785.364 2.159.932 2.384.591\nBeban Pokok Pendapatan\nCost of Revenues (1.737.045) (2.078.102) (2.395.545)\n(Rugi) Laba Bruto\nGross (Loss) Profit 48.319 81.830 (10.954)\n(Rugi) Laba Tahun Berjalan\n(Loss) Profit for the Year (57.299) (31.547) (149.399)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (69.163) (33.576) (149.538)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 11.864 2.029 139\nJumlah (Rugi) Penghasilan Komprehensif Tahun Berjalan\nTotal Comprehensive (Loss) Income for the Year (63.106) (34.043) (109.418)\nDiatribusikan kepada Pemilik Entitas Induk\nAttributable to Owners of the Company (75.171) (36.009) (109.557)\nDiatribusikan kepada Kepentingan Non Pengendali\nAttributable to Non-Controlling Interests 12.065 1.966 139\nLaba (Rugi) Bersih per Saham Dasar (dalam US$ penuh)\nBasic Earnings (Loss) per Share (in full US$ amount) (0,0010) (0,0005) (0,0021)\nEBITDA 76.057 129.968 5.263\nLaporan Posisi Keuangan Konsolidasian\nConsolidated Statements of Financial Position\nJumlah Aset\nTotal Assets 5.658.866 5.614.452 4.929.871\nJumlah Liabilitas\nTotal Liabilities 2.726.123 2.620.552 2.120.765\nJumlah Ekuitas\nTotal Equity 2.932.743 2.993.900 2.809.106\nModal Kerja Bersih\nNet Working Capital 1.660.390 2.020.098 1.673.861",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    },
    {
      "unique_key": "ID_000593_segments",
      "report_id": "ID_000593",
      "company_name": "Chandra Asri Petrochemical",
      "year": 2024,
      "country": "ID",
      "industry": "Materials",
      "question_type": "segments",
      "golden_answer": "1: Chemical Solutions Segment: Olefins, Polyolefins, Styrene Monomer, Butadiene, MTBE & Butene-1, 2: Infrastructure solutions segment",
      "golden_context": "Page 160:\n\nPER SEGMEN USAHA\nOPERATIONAL OVERVIEW PER BUSINESS SEGMENT\nPT Chandra Asri Pacific Tbk (“Chandra Asri Group”,\n“Perseroan”) menentukan segmen usaha dengan mengacu\npada Laporan Keuangan tahun 2024 yang telah diaudit\noleh Kantor Akuntan Publik Liana Ramon Xenia & Rekan.\nMengacu pada laporan tersebut, tinjauan operasional per\nsegmen usaha Chandra Asri Group masih berdasarkan\nproduk yang dihasilkan, sebagai berikut:\n1. Segmen Solusi Kimia\na. Olefins (Ethylene, Propylene, Pygas, dan Mixed\nC4);\nb. Polyolefins (Polyethylene dan Polypropylene);\nc. Styrene Monomer;\nd. Butadiene;\ne. MTBE & Butene-1;\n2. Segmen Solusi Infrastruktur\nSEGMEN SOLUSI KIMIA\nDi bidang solusi kimia, hingga akhir tahun 2024, Chandra\nAsri Group mengoperasikan kompleks petrokimia\nterintegrasi yang berlokasi di Ciwandan, Cilegon, Provinsi\nBanten. Kompleks tersebut terdiri dari 1 (satu) pabrik\nNaphtha Cracker, 3 (tiga) lajur Polyethylene, 3 (tiga) lajur\nPolypropylene, 1 (satu) satu pabrik Butadiene, 1 (satu)\npabrik MTBE, dan 1 (satu) pabrik Butene-1.\nLokasi strategis kompleks petrokimia terintegrasi\nPerseroan menyediakan akses yang mudah ke pelanggan\nutama di dalam negeri. Rantai pasok menuju pelanggan\nterhubung langsung dengan fasilitas produksi di Cilegon\nmelalui jalur pipa.\nKompleks petrokimia Perseroan juga menyediakan fasilitas\npendukung terintegrasi, termasuk jaringan pipa, generator\nlistrik, boiler, instalasi pengolahan air, tangki penyimpanan,\ndan dermaga.\nPerseroan juga memiliki pabrik Styrene Monomer, yang\nmerupakan satu-satunya di Indonesia. Pabrik ini berlokasi\ndi Pulo Ampel, Serang, Banten, sekitar 40 kilometer dari\nkompleks petrokimia utama di Cilegon.\nPT Chandra Asri Pacific Tbk (hereinafter referred to as\n“Chandra Asri Group” or the “Company”) has defined\nits business segments by referring to the 2024 Financial\nStatements audited by the Public Accounting Firm Liana\nRamon Xenia & Rekan. Chandra Asri Group’s operational\nreview by business segment, according to this report, is\nstill based on its following products:\n1. Chemical Solutions Segment\na. Olefins (Ethylene, Propylene, Pygas, and Mixed\nC4);\nb. Polyolefins (Polyethylene and Polypropylene);\nc. Styrene Monomer;\nd. Butadiene;\ne. MTBE & Butene-1;\n2. Infrastructure Solutions Segment\nCHEMICAL SOLUTIONS SEGMENT\nAs of the end of 2024, Chandra Asri Group’s chemical\nsolutions business operates an integrated petrochemical\ncomplex located in Ciwandan, Cilegon, Banten Province.\nThe complex comprises of 1 (one) Naphtha Cracker plant,\n3 (three) Polyethylene trains, 3 (three) Polypropylene\ntrains, 1 (one) Butadiene plant, 1 (one) MTBE plant, and 1\n(one) Butene-1 plant.\nThis integrated petrochemical complex’s strategic location\nprovides the Company with easy access to major domestic\ncustomers. Its supply chain to customers is directly\nconnected to its production facilities in Cilegon through\npipelines.\nThe petrochemical complex also provides integrated\nsupporting facilities, including pipelines, power generator,\nboilers, water treatment facility, storage tanks, and ",
      "eval_correct_all_info_there": null,
      "eval_correct_no_hallucination": null
    }
  ]
}